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Daily Current Affairs 13th June, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 13th June, 2024. It includes all Major National, International, Business and Sports related current affairs of 13th June, 2024. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 13th June, 2024 Current affairs test.

National News

National Commission for Indian System of Medicine Celebrates Its 4th Foundation Day

  • The National Commission for Indian Medical Systems marked its fourth foundation day by organizing a two-day national conference titled ‘PRANA’ (Protecting Rights and Novelties in ASUS – Mind to Market for Indian System of Medicines Professionals).
  • This event was held in collaboration with the All India Council for Technical Education and the Ministry of Education’s Innovation Cell.

Universities to Offer Admissions Twice a Year

  • Starting from the 2024-25 academic session, Indian universities and higher education institutions (HEIs) will be permitted to conduct admissions twice a year, akin to the practice followed by foreign universities.
  • The two admission cycles will occur in July-August and January-February.

International News

India and UAE Introduce Local Currency Settlement System

  • India and the UAE have launched the Local Currency Settlement System (LCSS) to enhance their economic relations.
  • This system enables transactions between the two countries to be conducted in their respective local currencies Indian Rupees and UAE Dirhams—thereby reducing dependence on intermediary currencies like the US Dollar.
  • The LCSS aims to lower transaction costs and settlement times, promoting a more efficient trade environment.

Russia and Belarus Conduct Tactical Nuclear Weapons Drills

  • Amid rising tensions with the West, Russia and Belarus have initiated the second phase of their joint drills focused on tactical nuclear weapons.
  • These exercises are intended to strengthen their readiness and serve as a deterrent against Western support for Ukraine, reflecting the Kremlin’s strategic position.

Appointments News

Lt Gen Waker-Uz-Zaman Appointed Army Chief of Bangladesh

  • On June 11, Lieutenant General Waker-Uz-Zaman was appointed as Bangladesh’s next Army Chief for a three-year term, beginning on June 23. Upon taking charge, Lt Gen Zaman, aged 58, will be promoted to the rank of a four-star general.

Prem Prabhakar Named MD and CEO of SBICAP Ventures Limited

  • Prem Prabhakar has been appointed as the Managing Director and Chief Executive Officer of SBICAP Ventures Limited (SVL), effective June 4, 2024.
  • With over 24 years of experience in banking, Prabhakar transitions to SVL from the State Bank of India (SBI), where he held several senior positions including General Manager and Chief Dealer.
  • His expertise in treasury operations and strategic leadership is expected to drive SVL’s growth and improve investor relations.

Agreements News

India and UAE Launch Local Currency Settlement System

  • India and the UAE have implemented the Local Currency Settlement System (LCSS) to revolutionize their economic interactions.
  • This system facilitates transactions in Indian Rupees and UAE Dirhams, reducing reliance on the US Dollar.
  • The LCSS is expected to decrease transaction costs and settlement times, creating a more efficient trade environment.

Business News

India’s Industrial Output Slows to 4.9% in March 2024

  • In March 2024, India’s Index of Industrial Production (IIP) grew by 4.9%, reflecting a slight slowdown primarily due to a declining mining sector.
  • This growth rate is down from 5.6% in February 2024 but higher than the 1.9% recorded in March 2023.

Summits and Conferences News

PM Modi to Attend G7 Summit in Italy

  • Prime Minister Narendra Modi is set to leave for Italy on June 13 to attend the 50th G7 leaders’ summit.
  • This will be his first international trip since beginning his third term as Prime Minister.
  • Modi, accompanied by a high-level delegation, will participate in an outreach session on June 14, focusing on artificial intelligence, energy, Africa, and the Mediterranean.

Ranks and Reports News

Infosys Among Top 100 Most Valuable Global Brands

  • Infosys, a prominent information technology firm, has been recognized among the 100 most valuable global brands for the third year in a row by Kantar, a leading marketing data and analytics company, enhancing its global brand reputation.

India Ranks 129th on Global Gender Gap Index 2024

  • India has fallen two places to rank 129th on the World Economic Forum’s Global Gender Gap Index, while Iceland continues to hold the top spot.
  • Within South Asia, India ranks fifth behind Bangladesh, Nepal, Sri Lanka, and Bhutan, with Pakistan at the bottom.
  • The top five global ranks are held by Iceland, Finland, Norway, New Zealand, and Sweden, with the UK at 14th and the USA at 43rd.

Visakhapatnam Port Achieves Top 20 Ranking in World Bank’s CPPI

  • The Visakhapatnam Port Authority (VPA) has attained the 18th position in the World Bank’s Container Port Performance Index (CPPI), a significant achievement for India’s maritime industry.
  • This ranking highlights the outstanding performance of the Terminal Operator M/s. Visakha Container Terminal Pvt. Ltd. (VCTPL) in improving operational efficiency and service delivery.

Defence News

Adani Defence and EDGE Group Form Global Defence Partnership

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  • Adani Defence and Aerospace has entered into a strategic cooperation agreement with the UAE-based EDGE Group to integrate their defence and aerospace capabilities.
  • This partnership aims to combine their product portfolios to meet global and regional defence requirements, emphasizing technological advancements and bilateral cooperation.

Launch of LSAM 13 (Yard 81), Fifth Barge of Missile Cum Ammunition Project

  • The ‘Missile Cum Ammunition Barge, LSAM 13 (Yard 81)’, the fifth barge of the 08 x Missile Cum Ammunition Barge project, was launched on June 10, 2024.
  • Built by MSME Shipyard M/s SECON Engineering Projects Pvt Ltd (SEPPL) in Visakhapatnam for the Indian Navy, the launch ceremony took place at M/s Vinayaga Marine Petro Ltd, Mira Bhayandar, Maharashtra, presided over by Cmde Manish Vig, General Manager (QA), ND(Mbi).

Economy News

India’s Retail Inflation Drops to 4.75% in May

  • India’s consumer price index (CPI) inflation fell to a 12-month low of 4.75% in May 2024, down from 4.83% in April.
  • This decline continues the trend within the Reserve Bank of India’s target range of 2-6% since September 2023.
  • Rural and urban inflation rates were 5.28% and 4.15%, respectively. However, food basket inflation remained high at 8.69% in May, slightly down from 8.70% in April.
  • The Reserve Bank of India aims to maintain CPI inflation at 4%, with a 2% margin on either side, and recent projections indicate a stable outlook for the coming quarters.

Science and Technology News

Scientists Discover Smallest Great Ape

  • A new species of great ape, which lived 11 million years ago and only grew to the size of a human toddler, has been discovered by scientists.
  • Named Buronius manfredschmidi, this extinct ape species was found at the Hammerschmiede fossil site in Bavaria.

Important Days

International Albinism Awareness Day 2024: Theme and History

  • June 13th marks International Albinism Awareness Day, dedicated to raising awareness about albinism, a rare genetic condition resulting in a lack of pigmentation in the skin, hair, and eyes.
  • The theme for this year, “10 years of IAAD: A decade of collective progress,” celebrates a decade of efforts to promote understanding, acceptance, and support for individuals with albinism.

United Nations Declares 2025 as the Year of Quantum Advancements

  • The United Nations General Assembly has declared 2025 as the International Year of Quantum Science and Technology.
  • On June 7, 2024, the 193-member Assembly passed a resolution, co-sponsored by Ghana and six other countries, recognizing the importance of this revolutionary field of study.
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