Current Affairs June 2022

MeitY declares HDFC, ICICI, NPCI’s IT resources as critical information infra

MeitY declares HDFC, ICICI, NPCI’s IT resources as critical information infra

The government has declared the IT resources of ICICI Bank, HDFC Bank and UPI managing entity NPCI as ‘critical information infrastructure’, implying any harm to them can have an impact on national security and any unauthorised person accessing these resources may be jailed for up to 10 years, according to an official notification. The IT resources under CII include Core Banking

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Japan to attend NATO summit for first time in Madrid, Spain

Japan to attend NATO summit for first time in Madrid, Spain

Japanese Prime Minister, Fumio Kishida will attend North Atlantic Treaty Organization (NATO) summit, which will be held in Madrid and becomes the Japan’s first leader to join NATO summit. Sweden and Finland will also send delegations to the summit and South Korea’s new President Yoon Suk-yeol will also become the first leader from his country to join the meeting.

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Hamza Abdi Barre appointed as PM of Somalia 

Hamza Abdi Barre appointed as PM of Somalia 

Somalia’s President Hassan Sheikh Mohamud has appointed a former chairman of the Jubbaland state election commission, Hamza Abdi Barre as the Prime Minister. The 48-year-old Hamza Abdi Barre from the semi-autonomous state of Jubaland replaced Mohamed Hussein Roble. Barre served in a number of public and political roles and from 2011 to 2017 was secretary-general of the Peace and Development Party

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Ministerial meeting on GST rationalisation fails to reach agreement 

Ministerial meeting on GST rationalisation fails to reach agreement 

According to insiders, a group of state ministers working on GST rate rationalisation was unable to achieve an agreement because some members were opposed to modifications to tax slabs and rates. They stated that the Group of Ministers will provide a status report to the GST Council on the consensus reached at the Group of Minister’s previous meeting on November 20, 2021.

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Since 1980s, world’s central banks launch their most hawkish campaign 

Since 1980s, world’s central banks launch their most hawkish campaign 

Central bankers around the world are enacting what could be the most dramatic tightening of monetary policy since the 1980s, risking recessions and upsetting financial markets as they try to deal with an unexpected spike in inflation. The week began with a surprise move on Wall Street to price in a Federal Reserve rate hike of 75 basis points. Chairman Jerome

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Piyush Goyal: After several years, India able to win favourable WTO outcome

Piyush Goyal: After several years, India able to win favourable WTO outcome

Despite a strong global campaign against Indian farmers and fishermen, India was able to secure a favourable outcome at the WTO after many years, commerce and industry minister Piyush Goyal told the media after the conclusion of the 12th ministerial conference — the WTO (World Trade Organisation)‘s highest decision-making body . Piyush Goyal described the conference as a ‘outcome-oriented success’, saying

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RBI raises limit of e-mandates for transactions up to Rs 15,000 

RBI raises limit of e-mandates for transactions up to Rs 15,000 

The Reserve Bank of India (RBI) has raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and Unified Payments Interface (UPI) for recurring transactions. It implies, additional authentication will not be need for payment of Rs 15,000 per transaction. The Reserve Bank of India (RBI) has, over the past

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