Current Affairs 6th June

National Affairs

1. NIRF: IIT Madras tops India Ranking 2023: Overall for the 5th time  

The Indian Institute of Technology (IIT) Madras (IITM) in Chennai, Tamil Nadu (TN), has topped the list for the fifth time in a row, according to the Ministry of Education (MoE)-prepared 8th edition of India Rankings (India Ranking 2023). The list is based on parameters defined by the National Institutional Ranking Framework (NIRF).

 

IITM is trailed by the Indian Establishment of Science (IISc), Bengaluru, Karnataka positioned

second and IIT Delhi at third.

 

For the eighth year in a row, IIT Madras has also topped the engineering institutes.

 

In addition, IIT Madras is ranked second best for innovation and second best among research institutions.

 

Note: The India Ranking 2023 of NIRF is the most comprehensive to date, with 13 categories.

 

About NIRF:

 

On September 29, 2015, NIRF went live after receiving approval from the Ministry of Human Resource Development (MHRD), which is now the MoE.

 

A method for ranking Indian institutions is laid out by NIRF. Teaching, Learning, and Resources, Research, Professional Practices, Graduation Outcomes, Outreach, Inclusivity, and Perception are all included in the parameters.

 

In 2016, the first edition of the India Rankings was released.

2. MNIT & NDSA signed MoU to set up India’s first-of-its-kind National Centre for Earthquake Safety of Dams 

The Malviya Public Establishment of Innovation (MNIT) in Jaipur, Rajasthan and the

Public Dam Security Authority (NDSA), Service of Jal Shakti (MoJS) had marked a

The reminder of Figuring out (the MoU) to lay out India’s first-of-its-sort Public Center

for Quake well-being of Dams which will zero in on concentrating on seismic risks, creating

new dams, and improving the insurance of existing ones.

 

In this regard, the MoJS has approved a 30 crore rupee financial grant for the establishment and operation of the centre over the next five years.

 

Key People:

Union Minister Gajendra Singh Shekhawat, MoJS, witnessed the signing of the memorandum of understanding in this regard. Kushvinder Vohra, Chairperson of the Central Water Commission (CWC); Sanjay Kumar Sibal, Chairperson of the NDSA; Narayan Prasad Padhy, director of MNIT, on May 22, 2023, at MNIT, Jaipur.

 

The National Centre for Earthquake Safety of Dams’s goal is to make India self-reliant in this field by developing indigenous expertise in addressing technology challenges related to the structural and earthquake safety of dams.

 

What is the Centre’s plan?

 

To reduce the significant threat of earthquake shaking to dam safety, the Centre will collaborate closely with dam engineers, regulators, and policymakers.

 

It will guide an investigation of select dams across the country to create and update well-being principles along with global joint efforts.

 

It will be crucial in developing new standards for dam protection.

 

Additionally, the Central Water Commission’s (CWC) earthquake safety manuals will be examined.

 

Dam Safety Act of 2021:

 

It is important to note that the Dam Safety Act of 2021 recognized the issue of major dam safety as a matter of national importance and priority beyond state borders. In order to prevent disasters, it oversees the upkeep and operation of specific dams.

 

With more than 5,500 dams in India, including 70 of public significance, the demonstration addresses the takes a chance with they present.

 

Notably, dam failure can result in the uncontrolled release of impounded water, harming people, property, and the environment.

3. Union Minister Jitendra Singh Inaugurated the ‘Lavender Festival’ in J&K; Bhaderwah Emerged as the Lavender Capital of India

The two-day “Lavender Festival” in Bhaderwah Valley, J&K, was inaugurated on June 4, 2023, by Jitendra Singh, Union Minister of Jammu and Kashmir (J&K) (Independent Charge) for Science and Technology. During the event, Jitendra Singh stated that Bhaderwah has emerged as the Lavender capital of India and a prominent Agri-Startup destination.

 

As part of the organization’s “One Week, One Lab Campaign,” the Council of Scientific and Industrial Research (CSIR) and the Indian Institute of Integrative Medicine (IIIM) organized the inauguration event.

 

Aroma Mission: CSIR

In the Bhaderwah, Doda district of J&K, CSIR-IIIM is supporting farmers in the cultivation of lavender under the CSIR-Aroma Mission, a flagship project of CSIR that has been instrumental in promoting lavender cultivation in the temperate regions of J&K. This CSIRIIIM initiative has been dubbed the “Purple Revolution” by the media.

 

The primary objective of the CSIR-Aroma Mission is to encourage the growth of agriculture-based start-ups and raise the income of small and marginal farmers.

 

Under the CSIR-Aroma Mission, CSIR-IIIM introduced lavender and provided farmers in various districts of J&K with more than 30 million free lavender plants. Key Points:

 

Lavender assortment (RRL-12) created by CSIR-IIIM in J&K is the wellspring of high-esteem, low-volume rejuvenating ointment which is profoundly pursued by the perfumery industry. In India’s temperate rain-fed regions, this variety does exceptionally well.

 

To assist farmers in processing lavender, CSIR-IIIM has set up fifty distillation units—45 fixed and five mobile—all over J&K.

 

More than 2500 farmers and young entrepreneurs from J&K have been trained by CSIR-IIIM in lavender cultivation, processing, value addition, and marketing.

 

Benefits of Growing Lavender:

 

The fruitful reception of Lavender development in the calm areas of Jammu by a lot of people little and peripheral maize ranchers has prompted the foundation of another industry around the district.

 

Numerous youthful business visionaries in J&K have begun limited-scope organizations through the worth expansion of Lavender oil, hydrosol, and blossoms.

 

The net yearly pay of ranchers who changed from maize to Lavender development has

expanded many folds from around Rs.40,000 to Rs.60,000 per hectare to Rs.3,50,000 to

Rs.6,00,000 per hectare.

 

In 2019, 2020, 2021, and 2022, farmers in the Bhaderwah district of the Doda district produced 300, 500, 800, and 1500 litres of lavender oil, respectively. Between 2018 and 2022, they sold lavender oil, lavender plants, and dry flowers, bringing in around Rs 5.0 crore.

4. MoE Minister Dharmendra Pradhan unveils UGC (Institutions Deemed to be Universities) Regulations, 2023

On June 2, 2023, Association Clergyman Dharmendra Pradhan, Service of Training (MoE) delivered the UGC (Organizations Considered to be Colleges) Guidelines, 2023 for the foundation of greater quality-centred considered colleges. These will outperform the UGC (Establishments Considered to be Colleges) Guidelines 2019.

 

The new Regulations, which are in line with the National Education Policy 2020, are based on the idea of a “light but tight” regulatory framework that is in the National Education Policy 2020.

 

How can these guidelines be of use to you?

 

These rules will empower the foundation of various top-notch considered to-be

colleges in a goal and straightforward way. Higher education in India will be transformed as a result of the simplified guidelines, which will encourage universities to place a higher priority on quality and excellence while also improving the research ecosystem.

UGC (Institutions Deemed to be Universities) Regulations, 2023 

 

Key Features

 

Staff Strength: The minimum number of faculty members has been raised to 150 from 100.

 

Fund for Corpus: The corpus fund requirement for private institutions has increased to Rs 25 crore from Rs 10 crore.

 

Councils of Executives: Considered colleges will currently have to lay out leader gatherings like those in focal colleges.

 

Online application, distinct institution category, eligibility for off-campus center setup, quality monitoring, adherence to statutory body rules, fee concessions and scholarships, Academic Bank of Credits implementation, transparency in prospectus availability, and record maintenance for five years are also included as eligibility criteria.

 

Quality will be prioritized in the regulations, and UGC expert committees will closely monitor monitoring.

 

The permission to start new courses or programs may be revoked if deficiencies are not addressed.

 

Foundations considered to be Colleges with the least ‘A’ grade or more or positioned from 1

to 100 in the “Colleges” class of NIRF rankings of the applicable year are qualified to set

up off-grounds focuses.

Banking and Finance

1. RBI’s Annual Report 2022-23: RBI’s Income Increased by 47.06%; PSBs Contribute Maximum Bank Fraud Amount

 

The Reserve Bank of India (RBI) released its Annual Report 2022-23 on May 30, 2023. This report is a static report that the Central Board of Directors submitted to the Central Government in accordance with Section 53(2) of the RBI Act, 1934, on the RBI’s operations for the year that ended March 31, 2023 (i.e. FY23).

 

Highlights from the Annual Report of the RBI:

 

Domestic expansion: The Indian economy is anticipated to have grown by 7.0% in real GDP in FY23, up from 9.1% in FY22, according to the second advance estimates (SAE) of national income that were released by the National Statistical Office (NSO).

 

FDI, or direct foreign investment, is The Total Foreign Direct Investment (FDI) flows into India reached a three-year low of USD 46 billion in FY23, compared to USD 58.8 billion in FY22, according to the RBI annual report.

 

Increase of 47.06 per cent in RBI’s total income in 2022-23:

 

For the fiscal year that ended on March 31, 2023, RBI’s balance sheet expanded by 2.5%. While its pay for the year expanded by 47.06% to Rs 2.35 lakh crore, the consumption expanded by 14.05% to Rs 1.48 lakh crore.

 

According to the evaluation of bank group-wise fraud cases over the previous three years, private sector banks reported the greatest number of frauds in FY23, while public sector banks continued to contribute the greatest amount to the amount of fraud.

Science and Technology

1. SpaceX Launches 22 second generation Starlink ‘V2 Mini’ satellites

From Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station in Florida, the United States of America (USA), SpaceX launched Falcon9, a two-stage rocket carrying 22 second generation starlink satellites known as “V2 Mini,” to Low-Earth Orbit (LEO) on June 4, 2023.

 

This was the third send off and arriving for this Hawk 9 first stage promoter, which already

sent off Team 6 and SES O3b mPOWER missions.

 

With more powerful phased array antennas and the use of E-band for backhaul, the Starlink satellites of the second generation can connect approximately four times more people than their predecessors.

 

SpaceX hopes to establish a global internet network with low latency and high speed using the Starlink satellite network.

2. Chinese astronauts returned to Earth after a six-month stint in the space station

Fei Junlong, Deng Qingming, and Zhang Lu, three Chinese astronauts, completed their six-month mission to construct China’s Tiangong space station on the Shenzhou-15 manned spacecraft on June 4, 2023. Shenzhou-15 landed at the Dongfeng landing site in the Inner Mongolia Autonomous Region of northern China.

 

On November 29, 2022, the manned spaceship Shenzhou-15 was launched.

 

At the Tiangong space station, they have carried out a variety of scientific experiments and spacewalks.

 

On May 30, 2023, the three astronauts Jing Haipeng, Zhu Yangzhu, and Gui Haichao boarded the spacecraft Shenzhou-16 and took their places.