Home » Current Affairs Date: 28 June 2022

Current Affairs Date: 28 June 2022


2nd edition of “Rishikesh Music Festival 2022”

⇒ Ministry of Culture organized the second edition of “Rishikesh Music Festival 2022” on 14th-15th May 2022 as part of Azadi ka Amrit Mahotsav.

    • This edition was organized jointly with Sangeet Natak Academy, Uttarakhand Tourism and Kutani Handpan Academy.
About Rishikesh Music Festival:
    • Rishikesh Music Festival is an annual music festival held in the Himalayan foothill area of Rishikesh, India, beside river Ganga.
    • The line-up of this festival includes a mix of established and emerging, sub-continental and global artists.
    • The main aim of Rishikesh Music Festival includes promotion of Rishikesh as a global Centre for music learning and music production, promotion of Musical Tourism in Rishikesh, showcase and document intangible cultural heritage of humanity.

India’s first 5G Test Bed

⇒ Prime Minister Shri Narendra Modi addressed a programme marking the silver jubilee celebrations of the Telecom Regulatory Authority of India (TRAI) via video conferencing on 17 May 2022. He also released a postal stamp to commemorate the occasion.

During the programme, Prime Minister launched a 5G Test Bed, developed as a multi-institute collaborative project by a total of eight institutes led by IIT Madras.
    • The other institutes that participated in the project include IIT Delhi, IIT Hyderabad, IIT Bombay, IIT Kanpur, IISc Bangalore, Society for Applied Microwave Electronics Engineering & Research (SAMEER) and Centre of Excellence in Wireless Technology (CEWiT).

» Addressing the gathering, the Prime Minister said, the self-made 5G Test Bed is an important step towards self-reliance in critical and modern technology in the telecom sector.

About 5G Test Bed:
    • The project has been developed at a cost of more than Rs.220 crore.
    • The Test Bed will enable a supportive ecosystem for Indian industry and startups which will help them validate their products, prototypes, solutions and algorithms in 5G and next generation technologies.
About TRAI:
    • TRAI was established in 1997 through the Telecom Regulatory Authority of India Act, 1997.

Various Schemes of Repco Micro Finance Limited

⇒ Union Minister of State for Home Affairs Ajay Kumar Mishra has launched New Repatriate Welfare Scheme, a deposit scheme of Repco Bank, a micro finance loan scheme and an app for Repco Micro Finance Ltd. (RFML) in Chennai in May 2022.

Repco Subhiksham:

» Repco Subhiksham, a special scheme of Fixed deposits for Senior Citizens and Super Senior Citizens to earn income from their savings. This scheme is valid upto 30 September 2022.

    • Rate Of Interest – 7.15 % (p.a) for Senior Citizens, who have completed 60 Years.
    • Rate Of Interest – 7.25 % (p.a) for Super Senior Citizens, who have completed 80 Years.
Repatriate Youth Development Scheme:

» ‘A’ class repatriate members from Myanmar or Sri Lanka and their family members are eligible for the ‘Repatriate Youth Development Scheme’.

    • Sponsorship amount shall be upto a maximum of Rs 25,000 and those aged between 18 and 35 are eligible to apply.
Repco Mahila Samriddhi Scheme:

» Repco Mahila Samriddhi Scheme meant for SHGs aims at supporting income generation activities for the underprivileged sections.

    • It will provide collateral free loan to women with household income of up to ₹3 lakh.
    • The loan amount would be between Rs 50,000 and Rs 2.5 lakh.
About Repco Bank:

Repco Bank was registered as a cooperative society under the Union Ministry of Home Affairs established in 1969 with the primary objective of rehabilitation of repatriates from Myanmar and Sri Lanka.


10th Session of the India-Oman Joint Commission Meeting

⇒ A high level multi-sectoral delegation led by Mr. Qais bin Mohammed al Yousef, Hon’ble Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman visited India from May 10-14, 2022.

    • The 48 members delegation included senior officials and business representatives from diverse areas spanning health, pharmaceuticals, mining, tourism, telecommunication, energy, shipping and real estate.
During the visit, senior officials from both the sides participated in the 10th Session of the India-Oman Joint Commission Meeting (JCM) held on 11 May 2022 in New Delhi.

The meeting was co-chaired by Shri Piyush Goyal, Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles, India, and Mr Qais bin Mohammed al Yousef, Minister of Commerce, Industry and Investment Promotion of the Sultanate of Oman.

Significant Outcomes of the 10th India-Oman JCM:
    • Fast tracking of approvals for registration of Indian pharmaceutical products already registered by USFDA, UKMHRA and EMA was agreed to during the deliberations.
    • Joint release of a Market Research Report commissioned by the Embassy of India, Muscat on Pharmaceutical sector in Oman highlighting strategies and opportunities for Indian companies in Oman in this sector.
    • Appreciation by India for the signing and ratification of International Solar Alliance Framework Agreement by Oman and for acceptance of the Green Grids/’One Sun One World One Grid’ (OSOWOG) initiative of Prime Minister Narendra Modi for connecting solar energy supply across borders.
    • Expression of commitment from both sides to facilitate trade and to comprehensively address all issues pertaining to Tariff/Non-Tariff Barriers.
    • Agreement on expeditious conclusion of all Memorandum of Understanding/Agreements under discussion, including on standards and metrology, India-Oman Double Taxation Avoidance Agreement, India-Oman Bilateral Investment Treaty, Invest Oman and Invest India, and Rupay card acceptance in Oman etc.
    • Enhance collaboration across a range of fields with particular emphasis on the 3Ts (Trade, Technology, Tourism), food & agriculture, renewable energy including Green Hydrogen and Green Ammonia, health and pharmaceuticals, mining, manufacturing, etc.

» Bilateral trade has been witnessing robust growth increasing from US$ 5.4 billion in 2020-21 to US$ 9.94 billion during 2021-2022, an impressive annual growth of 82.6%.

On 12 May, 2022, a meeting of the India-Oman Joint Business Council (JBC) was jointly organized by FICCI and Oman Chamber of Commerce and Industry.
    • The JBC witnessed participation of the Hon’ble Ministers from both sides who also addressed the gathering and interacted with the business communities of India and Oman.

Source: PIB & Other News Reports

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