Today's Current Affairs 4th June 2023

INTERNATIONAL

Japan, US and South Korea agree to upgrade their security relationship

Japan, the United States, and South Korea have agreed to upgrade their security relationship to enable real-time monitoring of missiles launched by North Korea.

The countries will activate the new data-sharing mechanism by the end of the year. The trilateral agreement came during a one-hour meeting in Singapore on Saturday attended by Japanese Defense Minister Hamada Yasukazu, US Defense Secretary Lloyd Austin, and South Korean Defense Minister Lee Jong-sup. The Defense Chiefs met on the sidelines of the Shangri-La Dialogue.

A joint statement released after the talks said the three condemned North Korea’s recent claimed space launch using ballistic missile technology, as it constitutes a serious violation of relevant UN Security Council resolutions. Pyongyang announced after the failed launch that it will conduct another launch soon.

NATIONAL

Tata Group to set up Rs 13,000-crore lithium-ion cell unit in Gujarat

Tata Group will set up a lithium-ion cell manufacturing facility in Gujarat through its subsidiary with an initial capacity of 20 GWh at a cost of Rs 13,000 crore,

Tata Group subsidiary Agratas Energy Storage Solutions Pvt Ltd has signed a memorandum of understanding with the Gujarat government under the new Electronics Policy (2022-28) in this regard.

In presence of Gujarat Chief Minister Bhupendra Patel the Memorandum of Understanding (MoU) was signed between the Tata Group and the Government of Gujarat.

During the signing ceremony, Patel conveyed the complete support of the state government in ensuring the success of this project. This factory will be solely dedicated to the manufacturing of lithium-ion cells, a crucial component in the production of EV batteries.

The plant is likely to reduce dependency on battery cell suppliers from countries like China and South Korea, Moreover, the establishment of this gigafactory aligns with the state's ambitious goals of achieving 50% carbon emission-free energy and 100% electric vehicle adoption by 2030.

IMPORTANT DAYS

International Day of Innocent Children Victims of Aggression

International Day of Innocent Children Victims of Aggression is celebrated on June 4 each year in a bid to lay emphasis on the rights of children and protect children around the world from incidents of violence, sexual abuse and terror.

Innocent children throughout the world fall prey to acts of terror, violence, maiming and abduction each day. International Day of Innocent Children Victims of Aggression emphasizes the commitment of the United Nations towards protecting the rights of children.

History - The idea of the International Day of Innocent Children Victims of Aggression emerged from the UN General Assembly’s emergency special session held on August 19, 1982. During the session, the assembly focused on protecting Palestinian and Lebanese children from Israeli aggression during the Lebanon war.

In a bid to protect the rights of children in Lebanon, UN General Assembly decided to organize the International Day of Innocent Children Victims of Aggression on June 4 every year.

 SUMMIT'S & MOU's

India and Maldives sign ten key pacts – MoU’s , Adding new dimensions to historic ties

Giving major impetus to their development partnership, India and the Maldives today inked ten new agreements.

The MOUs were exchanged during a ceremony held at the Maldivian Ministry of Foreign Affairs on Sunday, attended by Minister of State for External Affairs, V Muraleedharan and Maldivian Foreign Minister Abdulla Shahid.

About the MoUs - Significantly launched under India’s grant assistance, the MoUs will seek implementation of high-impact projects in 11 atolls in the Maldives while covering diverse sectors including arts, sports, education, and health.

MoU signed between the Indian Navy and the Indian Maritime University

The Indian Navy and Indian Maritime University have signed a Memorandum of Understanding (MoU) for technical collaboration. The MoU outlines the procedure for collaboration in various areas, including training, joint research and development, collaborative courses, and resolution of field level issues.

The collaboration will involve teams from the Centre of Excellence (Marine Engineering) at INS Shivaji, Lonavala, and the Indian Maritime University.

The Vice Admiral Sandeep Naithani, Chief of Materiel, and Dr. Malini V Shankar, IAS (Retd), Vice Chancellor of Indian Maritime University, signed the MoU.  The agreement aims to enhance cooperation between the Indian Navy and Indian Maritime University in areas related to maritime education, research, and resolving practical challenges faced in the field. Through this collaboration, the Indian Navy and Indian Maritime University will work together to develop and implement training programs, conduct joint research projects, and address issues specific to the maritime sector.

About: Indian Maritime University (IMU) - It is a central university in India dedicated to maritime education, training, and research. It was established through an Act of Parliament in 2008 as a teaching-cum-affiliating university. The university has its headquarters in Chennai, Tamil Nadu, and operates through its various campuses and affiliated institutes located across the country, It aims to provide quality education and training to students aspiring to pursue careers in the maritime industry, including shipping, logistics, ports, offshore sectors, and related fields.

The third meeting of the Startup20 Engagement Group held in Goa

The third meeting of the Startup20 Engagement Group, part of India's G20 presidency, took place in Goa on June 3-4, Startup20 serves as a prime opportunity to foster collaboration, exchange ideas, and shape the future of start ups and entrepreneurship on a global scale. The previous two meetings were held in Hyderabad and Gangtok, respectively.

The focal point of the meeting was to build consensus on the draft policy communique, which Startup20 recently published asking the public for feedback. The meeting will feature a startup showcase, exciting talks as part of the 'Startup20x' series, cultural experiences, and discussions on the implementation and benefits of the ideas outlined in the document.

2nd day  - The program commenced with closed-door meetings between national and international delegations and Dr. Chintan Vaishnav, Chair of Startup20, focusing on key agendas and strategic partnerships.

The second day of the Startup20 Engagement Group meeting in Goa witnessed crucial discussions and meetings aimed at strengthening collaboration and aligning efforts towards the growth and support of startups globally.

Third G20 Health Working Group meeting begins in Hyderabad

The 3rd G20 Health Working Group meeting was formally opened this morning – June 4, in Hyderabad.  Minister of State for Health Family Welfare Bharati Pravin Pawar behalf of Union Minister Dr Mansukh Mandaviya, is taking forward the agenda of the G20 Health Track under India’s Presidency. She emphasised leveraging the existing global health systems and regional health practices in a synergic manner to achieve universal health services accessible to all.

The Health Track under India’s Presidency is focused on three priorities namely, Health Emergencies Prevention, Preparedness, and Response (One Health & AMR), Access and Availability to Affordable Medical countermeasures (Vaccines, Therapeutics, and Diagnostics), and Digital Health.

Separate sessions will focus on the initiatives on Health Emergencies Prevention, Preparedness and Response and Strengthening Cooperation in Pharmaceutical Sector with Focus on Access and Availability to Safe, Effective, Quality, and Affordable Medical Countermeasures will be discussed besides bilateral meetings. In addition, the meeting will focus on Research and Development and Innovation in its side events.

BANKING AND ECONOMY

RBL Bank launches ACE Fixed Deposit Scheme with 8.5% interest

To provide better saving options for customers, RBL bank introduced its ACE Fixed Deposit scheme with an interest of up to 8.50 per cent. The new saving scheme can be taken for a tenure of 12 months to 20 years. The new scheme will provide more options for customers in terms of banks and rewards.

Under the scheme, the bank is offering 20 bps higher rate of interest, over and above the regular callable deposits (Fixed Deposit with premature withdrawal). Moreover, senior citizens and super senior citizens getting 50 bps and 75 bps higher interest rate respectively. The minimum deposit value of the FD scheme is ₹50 lakh and maximum deposit value is ₹2 crore. Investment of large amount for 1-20 years will help people in aligning their investment strategy with their long-term financial goals.

The RBL FD scheme is available for residents as well as non-residents of India. It is available for senior citizens and super senior citizens with 50 bps and 75 bps higher interest rate respectively.