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Going beyond $: India, UAE sign rupee-dirham trade pact

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he Reserve Bank Of India (RBI) and theCentral Bank of UAE decided to move further on strengthening the economic engagement between the two countries by agreeing to allow exporters and importers from either side to invoice and pay in their respective domestic currencies rupee and dirham while working on a messaging system that could be an alternative to SWIFT (Society for Worldwide Interbank Financial Telecommunication), the globally used system to remit across borders.

The second MoU dealt with Payments and Messaging Systems and includes linking the Fast Payment Systems (FPSs) Unified Payments Interface (UPI) of India with the Instant Payment Platform (IPP) of the UAE. It also envisages linking the respective payment card switches RuPay switch and UAESWITCH.

The UPI-IPP linkage will enable users in either country to make fast, convenient, safe and cost-effective cross-border funds transfers. Similarly, linking the

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respective card switches will
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facilitate the mutual acceptance of domestic cards and the processing of card transactions.

NASA sends out images of star-forming region in space

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NASA’sJames Webb Space Telescope‘s first anniversary image showcases star birth in the Rho Ophiuchi cloud complex, the closest star-forming region toEarth. The chaotic close-up captures jets bursting from young stars, impacting interstellar gas and molecular hydrogen. Some stars display the telltale shadow of a circumstellar disk, making up future planetary systems.

NASA’sJamesWebbSpaceTelescope has successfully revealed the universe in its first year of science operations, revealing a small star-forming region in the Rho Ophiuchi cloud complex. The

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telescope’s image celebrates its successful first year, revealing the universe like never before. New Webb
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image captures 390 Light-years of star-forming region, providing detailed close-up without foreground stars, revealing the nearest star-forming region.

Webb’s image depicts a region with 50 young stars, all similar in mass to the Sun or smaller. The darkest areas are densest, where thick dust cocoons protostars. The image is dominated by huge bipolar jets of molecular hydrogen, represented in red, which occur when a star bursts through its cosmic dust envelope.

INS Tabar Exercises was Held

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The INS Tabar exercise was held with the Italian Navy near Naples, Italy, as part of a continuous deployment to the

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Mediterranean

Highlights:

The exercise covered a broad range of naval operations, such as air DEFENCE procedures and Communication drills.

The exercise benefited both parties by improving interoperability and consolidating combined operations against maritime threats.

Major Indian Maritime Exercises:

SLINEX – Sri Lanka
Bongosagar and IN-BN CORPAT Bangladesh
JIMEX – Japan
Naseem-Al-Bahr – Oman
Indra – Russia
Zair-Al-Bahr – Qatar
Samudra Shakti – Indonesia
Indo-Thai CORPAT – Thailand
IMCOR – Malaysia
SIMBEX – Singapore
AUSINDEX – Australia
Malabar Exercise – Japan, and the USA

Agriculture Infrastructure Fund – Central Sector Scheme

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has approved changes to the Central Sector Scheme of financing facility under the Agriculture-notes-for-state-psc-exams”>Agriculture Infrastructure Fund’.

Highlights:

State Agencies/APMCs, National and State Federations of Cooperatives, Federations of Farmers Producers Organizations (FPOs), and Federations of Self-Help Groups are now eligible (SHGs).

Currently, the scheme allows for interest subventions on loans of up to Rs. 2 crore in a single location.

If an eligible entity other than a private sector entity (i.e., state agencies, national and state federations of cooperatives, federations of FPOs, and federations of SHGs) establishes projects in multiple locations, all such projects will now be eligible for interest subsidies of up to Rs. 2 crore.

However, a private sector entity will be limited to a maximum of 25 such projects.

For APMCs, an interest subvention of up to Rs. 2 crore will be provided for each project of different infrastructure types, such as cold storage, sorting,

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grading, and assaying units, silos, and so on, within the same market yard.

India Industrial Land Bank IILB

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The Industrial Land Bank Of India is a GIS-based portal that contains all information related to industrial , such as connectivity, infrastructure, Resources“>Natural Resources and topography, plot-level information about open spaces, activity lines, and contact information.

It serves as a one-stop shop for all industrial infrastructure-related data.

It acts as a decision-support system for investors scouting land remotely.

It is currently integrated with Industry-based GIS systems from 17 states, allowing details on the portal to be updated in real time.

The IILB has

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planned about 4,000 industrial parks on 550,000 hectares of land and is expected to achieve pan-Indian integration by December 2021.

It is administered by the Department of Industry and Internal Trade (DPIIT).

Sonowal launches ‘Sagar Samriddhi’ to bring transparency, efficiency

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Union Minister ofPorts, Shipping andWaterways(MoPSW) and Ayush,Sarbananda Sonowallaunched the ‘Sagar Samriddhi‘ the online dredging monitoring system in order to amp up ‘Waste to Wealth’ initiative of theMinistryin Delhi.

As per the Ministry

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of Ports, Shipping and Waterways, “This system has been developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC) the technological
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arm of MoPSW. The new technology brings marked improvement against the old system of the Draft and Loading Monitor (DLM) system.

“The system will bring in synergy among multiple input reports like daily dredging reports, and the pre and post-dredging survey data before processing and producing real-time dredging reports,” they added.

Over 11% Indians diabetic, 36% have hypertension: Lancet survey shows

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The prevalence of diabetes in India is 11.4 per cent, while 35.5 per cent and 15.3 per cent of people suffer from hypertension and prediabetes respectively, according to the findings of a nationwide survey published in

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The Lancet Diabetes
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& Endocrinology journal.

The largest epidemiological study on diabetes and non-communicable diseases (NCD) estimates that in 2021, there were 101 million people with diabetes in India, 136 million with prediabetes, and 315 million had high blood pressure.

The study, conducted by the Madras Diabetes Research Foundation (MDRF) in collaboration with the Indian Council of Medical Research (Icmr) and funded by the Ministry of Health and Family Welfare, also found that the prevalence of generalised obesity and abdominal obesity in India stood at 28.6 and 39.5 per cent, respectively.

The estimate shows that 254 million people in India had generalised obesity, and 351 million had abdominal obesity in 2021.

In 2017, the team found that the prevalence of diabetes in India was around 7.5 per cent, meaning there has been an increase of over 50 per cent in the burden since then.

Among the states, Goa (26.4 per cent) had the highest prevalence of diabetes andUttar Pradesh(4.8 per cent) had the lowest, while (31.3 per cent) and Mizoram (6.8 per cent) had the highest and lowest burden of prediabetes.
Punjab (51.8 per cent) had the highest prevalence of hypertension while Meghalaya (24.3 per cent) had the highest burden, the researchers said.

US, UK forge ‘Atlantic Declaration’ to boost economic ties

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The United States and Britain announced a new strategic pact as their leaders rededicated the “special relationship” to counter Russia, China and economic instability.

An “Atlantic Declaration” adopted by the leaders aims to boost ties on defense and RENEWABLE ENERGY, in the face of growing competition from China.

On Ukraine, the US and UK governments are moving closer to offering advanced fighter jets to help Kyiv counter the Russian invasion.

Cyclone

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Biparjoy, expected to cross theGujaratcoast on June 15, is on course to become the cyclone with the longest lifespan in theArabian Sea, according to the India Meteorological Department (IMD) data.

It will also be the third cyclone to hit the western state in June since 1965,”Based on data from 1965 to 2022 for the month of June, 13 Cyclones developed over the Arabian Sea.

Of these, two crossed the Gujarat coast, one Maharashtra, one Pakistan coast, three Oman-Yemen coasts and six weakened over the sea.

The life period ofCyclone Biparjoy, which developed over the southeast Arabian Sea at 5.30 am on June 6, is about seven days and 12 hours so far.

The extremely severeCyclone Kyarrof 2019 over the Arabian Sea had a life of 9 days and 15 hours. It developed over the east-central Arabian Sea, had multiple recurvatures and weakened over the southwest Arabian Sea.