About the Floating Financial Literacy Camp

• India’s First Floating Financial Literacy Camp was conducted as part of the launch of the initiative called “Niveshak Didi” in Jammu and Kashmir’s Srinagar.
• It was conducted among local residents around the famous Dal Lake in Srinagar.
• It focused on topics like:
• Various banking and financial products
• Importance of joining the mainstream financial services provided by various regulated entities
• Protection against various types of risks related to investments and frauds.

What is “Niveshak Didi” initiative?

• “Niveshak Didi” initiative is implemented based on the concept of “by the women, for the women”. This concept believes that women in rural regions are more comfortable sharing their queries to other women.

About IPPB

• The India Post Payments Bank (IPPB) comes under the aegis of the Department of Posts, Ministry of Communication. It is fully owned by the central government. This bank was launched on September 1, 2018 to become the most accessible, affordable and trusted bank for common man in India.

• A dance drama based on the life of Raja Rammohun Roy, who is called the father of modern Indian society, will be organized in the evening of 5th and 6th November, 2022 at Kartavya Path and India Gate (Central Vista).
• Titled ‘Yugpurush Raja Rammohun Roy’, the program is based on the theme ‘Nari Samman’, which  is being organised  by Raja Ram Mohun Roy Library Foundation.
• A one-year long celebration was launched by the Ministry of Culture, Government of India on May 22, 2022, on the occasion of the 250th birth anniversary of Raja Ram Mohan Roy, as part of the Azadi ka Amrit Mahotsav

About Raja Rammohun Roy

• Born on May 22, 1772 in Radhanagar, Bengal, Raja Rammohun Roy played a remarkable role in the religious, social and political reforms of India.
• He was the founder of Brahmo Samaj and always promoted modern and scientific approach.
• He was given the title of Raja by Akbar II, the Mughal emperor. His influence was apparent in the fields of politics, public administration, education and religion.
• He was known for his efforts to abolish the practices of satiand child marriage. Roy is considered to be the “Father of the Bengal Renaissance” by many historians.

• A seven-member National Assessment and Accreditation Council (NAAC) team today visited the Himachal Pradesh University (HPU) for physical verification of the self-study report submitted by the university.
• The team, which is headed by Arun K Pujari and includes Santa Ram Joshi, Telagam Chetty Tripura Sundari, Vijaya Bhaskar Raju K, Ajitava Raychaudhuri, Balabhim Biradar and Krishnan Krishnan, is on a three-day visit to the HPU.
• It will evaluate the performance of the university on the basis of curriculum, faculty, infrastructure, e-governance, research and patents, and best teaching practices.
• The team inspected Sanskrit, English, History, Visual Arts, Commerce, Tribal Studies, Journalism, Vocational Studies, Geography, Bio-technology, Physics, Maths, Chemistry, Hindi and Sociology departments. The assessment is based on 70 per cent self-study report and 30 per cent physical evaluation.
• After a drop in the National Institutional Ranking Framework (NIRF) last year, the HPU management had issued instructions to all the departments to fill the gaps and rectify the shortcomings to improve NAAC grading from A to A+.
• One of the reasons for which the HPU was awarded Grade A was to become the first university in the country in implementing the semester system under Rashtriya Uchchattar Shiksha Abhiyan. However, the state government and the university has reverted back to the annual examination system, creating several problems for the students and other stakeholders.

Performance criteria

• The team will evaluate the performance on the basis of curriculum, faculty, infrastructure, e-governance, research and patents, etc
• After a drop in the NIRF rank last year, the HPU instructed its departments to rectify gaps to improve grading from A to A+

• A wreath laying ceremony was held by the Indian Army in the honour of Major Somnath, PVC (Posthumous), at Saviours of Kashmir War Memorial located at Srinagar International Airport.
• Major Somnath of the 4th Battalion, the Kumaon Regiment led ‘D’ Company of his battalion at Budgam against the raiders approaching Srinagar from North on November 3, 1947.
• Despite being heavily outnumbered and coming under heavy fire, ‘D’ Company under his leadership foiled the enemy’s advance towards Srinagar airfield during the crucial hours.
• In this decisive battle of 1947, Major Somnath along with one Junior Commissioned Officer and 20 other ranks made the supreme sacrifice, defending the motherland against all odds.
• For his ultimate courage, leadership and dedication, Major Somnath was conferred with the country’s first and highest war time gallantry award – the Param Vir Chakra – posthumously.
• On behalf of Lt General ADS Aujla, General Officer Commanding, Chinar Corps, Colonel Manoram Yadav, Officiating Commandant, Jammu and Kashmir Light Infantry Regimental Centre, laid the wreath at the Saviours of Kashmir War Memorial as a mark of respect to Major Somnath.
• Somnath Sharma was born on January 31, 1923, in a military family.
• He was the native of Dadh village in Kangra district of Himachal Pradesh.
• His father, Major General (retd) Amarnath Sharma, who headed the Army Medical Corps, set up a charitable dispensary in 1955 in memory of his son.

• The first ‘The International Day for Biosphere Reserves’, celebrated on November 3, 2022.
• The UNESCO World Network of Biosphere Reserves (WNBR) was formed in 1971.
• WNBR covers internationally designated protected areas, known as biosphere reserves, which are meant to demonstrate a balanced relationship between people and nature (e.g. encourage sustainable development).
• They are created under the Man and the Biosphere Programme (MAB).

About the biosphere reserves:

• All biosphere reserves are internationally recognised sites on land, at the coast, or in the oceans.

There are 738 biosphere reserves in 134 countries, including 22 transboundary sites. They are distributed as follows:

• 90 sites in 33 countries in Africa
• 36 sites in 14 countries in the Arab States
• 172 sites in 24 countries in Asia and the Pacific
• 308 sites in 41 countries in Europe and North America
• 132 sites in 22 countries Latin America and the Caribbean.

India has 12 internationally recognised BRs. They are as follows:

• Nilgiri
• Gulf of Mannar
• Sunderban
• Nanda Devi
• Nokrek
• Pachmarhi
• Similipal
• Achanakmar-Amarkantak
• Great Nicobar
• Agasthyamala
• Khangchendzonga
• Panna

Nomination & approval of biosphere reserves:

• Governments alone decide which areas to nominate.
• Before approval by UNESCO, the sites are externally examined.
• If approved, they will be managed based on a plan, reinforced by credibility checks while remaining under the sovereignty of their national government.

• Microsoft Corp said it would extend technology support for Ukraine free of charge through 2023, as Russia’s invasion of the country drags on.
• Microsoft said it would provide additional technology aid of nearly $100 million, bringing its total support for Ukraine to more than $400 million since the crisis started in February.
• A number of companies across Europe and North America have mobilized in offering aid to Ukrainian authorities and people.
• Earlier in June, Microsoft also said it was making substantial cuts to its business in Russia, joining a list of companies that had reduced their exposure or pulled out of the country in response to the invasion.

• Renowned women’s rights activist Ela Bhatt, the founder of SEWA (Self Employed Women’s Association), died due to age-related issues.
• Bhatt (89), a Padma Bhushan recipient, was a pioneer in the field of women’s empowerment and had received international recognition due to her work.
• Bhatt is mainly known for her work through the Self-Employed Women’s Association or SEWA, a trade union of women working in the unorganised sector, which now has two million members.
• Bhatt was born in Ahmedabad on September 7, 1933. After a short stint as a college teacher, she joined the legal department of the Textile Labour Association (TLA), one of the oldest unions of textile workers in Ahmedabad, in the 1960s.

• Rajasthan has launched an Enterprise Promotion scheme-2023 to ensure effective participation of Scheduled Castes and Scheduled Tribes in the industrial development of the state.
• The Dr. Bhimrao Ambedkar Rajasthan Dalit, Tribal Enterprise Promotion Scheme-2022 will play an effective role and the objectives of this scheme is to ensure effective participation of SC and ST in the development of non-agricultural sectors (manufacturing, service and trade) of the state, said Industries Minister Shakuntala Rawat.
• Rawat further said that it will also help in the development of skill and entrepreneurship for the deprived and weaker sections of the society and  prevent the migration to the cities by creating self-employment opportunities for the educated youths of the targeted classes.
• This scheme provides entrepreneurs with a 9% interest subsidy on loans up to Rs 25 lakh and a 7% interest subsidy on loans up to Rs 5 crore, as well as a provision for margin money of up to 25% of the project cost up to Rs 25 lakh, the Minister said.
• As a result, investors from Scheduled Castes and Tribes will be encouraged to establish new industries and conduct business in the service sector, she added.
• Under the scheme, an incubation centre costing Rs 100 crore will be set up in collaboration with DICCI and CII, in which all necessary residential training facilities will be provided to the youth of these categories, including setting up, and operating an enterprise.
• The rate of reservation payable to these categories of entrepreneurs in RIICO industrial areas has also been increased from 5 to 6 percent. Apart from this, the prescribed limit of plots to be allotted has been increased from 2000 square metres to 4000 square meters.
• According the Minister, in the Rajasthan Investment Promotion Scheme 2019, the minimum investment limit for thrust sectors has been increased to 50 percent for these entrepreneurs, so that more and more enterprises can benefit.
• Apart from all this, all types of guidance and cooperation will be provided by the Industries Department to such entrepreneurs before and during the establishment of the industry. For this, the application process will be made easy, transparent, and online. In the next 5 years, a loan of about Rs 1200 crore will be made available to the entrepreneurs.
• A resident of Rajasthan origin who belongs to the Scheduled Caste or Scheduled Tribe category and is above 18 years of age at the time of application.

• The Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, approved ₹51,875 crore subsidy for phosphatic & potassic fertilisers for the rabi season.
• “This will enable smooth availability of all P&K fertilizers to the farmers during Rabi 2022-23 (October-March) at the subsidized / affordable prices of fertilizers and support the agriculture sector. The volatility in the international prices of fertilizers and raw materials has been primarily absorbed by the Union Government,” said a, official release.
• The subsidy on P&K fertilisers, which includes support for indigenous fertiliser through freight subsidy, will be provided based on the nutrient based subsidy rates approved by the CCEA to ensure smooth availability of these fertilisers to the farmers at affordable prices.

The nutrient based subsidy scheme:

• The nutrient based subsidy scheme is being implemented since April 2010.
• Under the NBS policy, a fixed rate of subsidy (in ₹per Kg basis) is announced on nutrients namely Nitrogen (N), Phosphate (P), Potash (K) and Sulphur (S) by the government on annual basis.
• The per kilogram subsidy rates on the nutrients are converted into per tonne subsidy on the various P&K fertilisers covered under the policy.
• Government is making available fertilizers, namely Urea and 25 grades for P&K fertilizers to farmers at subsidized prices through fertilizer manufacturers/importers. The subsidy on P&K fertilizers is being governed by NBS Scheme w.e.f. 01.04.2010.
• In view of steep increase in the international prices of fertilizers & inputs i.e. Urea, DAP, MOP and Sulphur, Government has decided to absorb the increased prices by increasing subsidy on P&K fertilizers including DAP.

• In Kerala, the 15th edition of the Urban Mobility India Conference & Expo opens in Kochi tomorrow. Union Minister of Housing and Urban Affairs Hardeep Singh Puri and Kerala Chief Minister Pinarayi Vijayan will jointly inaugurate the three-day conference.
• Senior officers from the central and state governments, policymakers, Managing Directors of Metro Rail Companies, Chief Executives of transport undertakings, and international experts are participating in the conference.
• The meet will focus on the theme, ‘Azadi @ 75 — Sustainable Aatmanirbhar Urban Mobility’.
• The event lays strong emphasis on building capabilities at the state and city level to address problems associated with urban transport.
• It will also focus on designing and implementing efficient, high-quality transport system in cities.
• It will also focus on laying down guidelines for developing equitable and sustainable urban transport systems for all sections of the society.