‘JUNE 15 CURRENT AFFAIRS’
‘JUNE 15 CURRENT AFFAIRS’
‘JUNE 15 CURRENT AFFAIRS’
Exam Rewards presents you with daily current affairs updates that are invaluable for all your exam preparations. Today’s highlights include:
1. India's equity market has once again surpassed Hong Kong, becoming the world's fourth-largest by market capitalization. India's market value has climbed to $5.2 trillion, thanks to a 10% increase following a post-election market rally. In contrast, Hong Kong's market stands at $5.17 trillion, having dropped 5.4% from its peak this year. This development underscores India's strong economic foundations and growing investor confidence, leading to a notable shift in global market rankings.
2. India ranks as the world's second-largest emitter of nitrous oxide (N2O), a potent greenhouse gas with a much higher heat-trapping capability than carbon dioxide. In 2020, India was responsible for nearly 11% of global man-made N2O emissions, with only China contributing more at 16%. The primary source of these emissions is fertilizer use, as detailed in a global assessment of N2O emissions published in the journal Earth System Science Data on June 12.
3. ATM operators in India are pushing for a Rs 2 increase in interchange fees per transaction, pointing to financial sustainability concerns. The Confederation of ATM Industry (CATMI) has officially requested the Reserve Bank of India (RBI) and the National Payments Corporation of India (NPCI) to raise the maximum fee from Rs 21 to Rs 23 per transaction, according to the Economic Times.
4. To enhance the efficiency of dispute resolution involving government or public sector enterprises (PSEs), the Finance Ministry has introduced a ₹10 crore cap on arbitration cases. This initiative aims to address concerns about the prolonged nature of arbitration proceedings and the risk of arbitrator misconduct. Additionally, the Ministry recommends reconsidering the automatic inclusion of arbitration clauses in significant government contracts, suggesting mediation and judicial adjudication as practical alternatives.
5. The India-IORA Cruise Tourism Conference, held over two days, concluded in New Delhi on June 14. The event saw participation from officials and experts representing Indian Ocean Rim Association (IORA) member states, including Bangladesh, Kenya, Madagascar, Maldives, Mozambique, Sri Lanka, South Africa, Seychelles, and Tanzania.
6. In May, India's wholesale inflation, as indicated by the wholesale price index (WPI), rose to a 15-month peak of 2.61%, up from 1.26% in April. This increase was primarily due to an unfavorable base effect and a significant rise in food prices. The inflation rate for food items climbed to 9.82%, a stark contrast to the -3.61% recorded in May 2023.
7. Madhya Pradesh Chief Minister Mohan Yadav inaugurated a new intra-state air service on June 13, aimed at boosting tourism in the region. The initiative, dubbed 'PM Shri Paryatan Vayu Seva', took to the skies with its maiden flight from Raja Bhoj International Airport in Bhopal to Jabalpur. Operated by the Madhya Pradesh Tourism Board (MPTB), the service will utilize two aircraft to connect eight key cities across the state, including Bhopal, Indore, Jabalpur, Gwalior, Khajuraho, Ujjain, Rewa, and Singrauli.
