Daily Current Affairs for 26th June 2023

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India’s Chandrayaan-3

Why in news?

  • India’s space exploration endeavors continue to soar as the Indian Space Research Organisation (ISRO) prepares for its third lunar mission, named Chandrayaan-3.

Chandrayaan-3 To Be Launched in July | All You Need To Know About ISRO's 3rd  Lunar Exploration ExpeditionOverview

  • Building upon the achievements and lessons learned from the Chandrayaan-2 mission, Chandrayaan-3 aims to unlock new discoveries about Earth’s celestial neighbor.
  • The mission, scheduled for a mid-July launch, will retain the names of its predecessors’ iconic components: the Vikram lander and the Pragyan rover.

Mission Objectives

  • The primary objective of Chandrayaan-3 is to conduct scientific experiments and gather valuable data to enhance our understanding of the Moon.
  • By studying the lunar surface and atmosphere, scientists hope to gain insights into the Moon’s geological evolution, its composition, and its potential for supporting future human missions.

Lander: Vikram

  • The Chandrayaan-3 lander, like its predecessor, will be named Vikram in honor of Vikram Sarabhai, widely regarded as the father of the Indian space program.
  • Vikram’s design and capabilities have been refined based on the lessons learned from Chandrayaan-2.
  • It will carry a suite of advanced instruments to perform a range of experiments on the lunar surface.

Rover: Pragyan

  • Accompanying the Vikram lander is the Pragyan rover, designed to traverse the Moon’s terrain and provide valuable in-situ chemical analysis.
  • Pragyan, meaning “wisdom” in Sanskrit, represents India’s pursuit of knowledge and exploration.
  • Equipped with state-of-the-art instruments, the six-wheeled rover will investigate the lunar surface, providing crucial data for scientists to unravel the Moon’s mysteries.

The Chandrayaan-2 Setback

  • The ISRO faced disappointment during the Chandrayaan-2 mission when the Vikram lander and its rover lost contact and crashed while attempting a soft landing on the lunar surface.
  • This setback, though disheartening, has served as a valuable learning experience for Chandrayaan-3, driving the ISRO to further refine and improve the mission’s design and execution.

Mission Components

  • Radio Anatomy of Moon Bound Hypersensitive ionosphere and Atmosphere (RAMBHA): This instrument aims to study the lunar ionosphere and atmosphere, providing insights into its composition and dynamics.
  • Chandra’s Surface Thermo physical Experiment (ChaSTE): ChaSTE will analyze the thermal characteristics of the lunar surface, contributing to our understanding of its temperature distribution and thermal conductivity.
  • Instrument for Lunar Seismic Activity (ILSA): ILSA will detect and analyze seismic activities on the Moon, shedding light on its internal structure and tectonic activity.
  • LASER Retroreflector Array (LRA): LRA will enable precise measurements of the Earth-Moon distance using laser technology, aiding in precise mapping and navigation.

Rover Payloads

  • Alpha Particle X-ray Spectrometer (APXS): APXS will analyze the chemical composition of lunar rocks and soil, providing insights into their elemental makeup and geological history.
  • LASER Induced Breakdown Spectroscope (LIBS): LIBS will utilize laser-induced plasma to study the elemental composition of lunar samples, aiding in the identification of minerals and resources.

Propulsion Module Payload

  • Spectro-polarimetry of HAbitable Planet Earth (SHAPE): The propulsion module will carry SHAPE, a payload designed to study the Earth’s atmosphere and its interaction with sunlight, contributing to our understanding of habitable conditions on our home planet.


  • Chandrayaan-3 represents India’s unwavering commitment to space exploration and scientific discovery. With its suite of advanced instruments, Chandrayaan-3 aims to unravel the Moon’s secrets, provide new insights into our cosmic neighbor, and contribute to the global quest for lunar exploration.


India and Egypt

Why in news?

  • Indian Prime Minister Narendra Modi and Egyptian President Abdel Fattah Al-Sisi recently signed a pact to upgrade the bilateral relationship between their countries to a “strategic partnership.

Strategic partnership to boost India-Egypt ties- The New Indian ExpressStrengthening Bilateral Ties

  • PM Modi’s visit to Egypt marked his second meeting with President Al-Sisi in less than six months.
  • Both leaders acknowledged the importance of deepening collaboration in various sectors, laying the foundation for a stronger partnership between India and Egypt.

Recognition and Honors

  • At the Al-Ittihadiya Palace, President Al-Sisi conferred the Order of the Nile, Egypt’s highest civilian award, upon PM Modi.
  • This prestigious honor represented the 13th state award bestowed on the Indian Prime Minister
  • The recognition symbolized the warm relations and admiration that Egypt holds for India.

Memorandums of Understanding (MoUs)

  • Three MoUs were signed between the two nations to foster cooperation in key areas.
  • The fields covered by the agreements included agriculture, archaeology and antiquities, and competition law.
  • These MoUs aim to facilitate joint initiatives and exchange of expertise between India and Egypt.

Collaboration through the “India Unit”

  • Both leaders appreciated the establishment of the “India Unit” within the Egyptian Cabinet, considering it a valuable mechanism for steering bilateral collaborations.
  • This dedicated unit, set up after President Al-Sisi’s visit to India, will further enhance cooperation and serve as a platform to explore new avenues of partnership.

Cultural Exchanges and Commemoration

  • During his visit, PM paid respects at the Al-Hakim mosque, an ancient architectural marvel in Cairo.
  • He also visited the Heliopolis Commonwealth War Cemetery, honoring the sacrifices of around 4,300 Indian soldiers who fought in Egypt and Aden during World War I.
  • Additionally, he engaged with leaders of the Bohra community, emphasizing the significance of people-to-people ties between India and Egypt.


Through collaborative efforts in trade, defense, culture, and other sectors, both nations aim to deepen their engagement and leverage each other’s strengths. This visit not only showcased the mutual admiration between the two leaders but also highlighted the historical and cultural connections that bind India and Egypt.


Track Outward Remittance Spending

Why in news?

  • Outward remittances hit a record high in FY22 as global economy opens up,  ET BFSI The Reserve Bank of India (RBI) is set to implement the Liberalised Remittances Scheme (LRS) from July, requiring banks to track spends on international cards and collect tax collection at source (TCS) on outward remittances.

Challenges Faced by Banks

  • Tracking International Card Spends:
  • Banks are finding it challenging to track spending on credit and debit cards used outside India, especially for outward remittances.
  • The RBI has tasked banks with the responsibility of monitoring these transactions, but the system’s implementation has been posing difficulties.
  • Accommodating Exemptions:
  • Certain exemptions related to credit and debit card usage outside India have caused confusion for banks.
  • The exemption of up to INR 7 lakh per financial year has raised questions on how to fit these exemptions into the system and ensure compliance.
  • Complexities and Lack of Clarity:
  • Thousands of low-value transactions and various exemptions make the implementation of TCS and tracking systems more challenging.
  • TCS (Tax Collection at Source) is a method of collecting tax at the time of purchase for certain goods and services. It is aimed at identifying individuals who earn a significant income but evade taxes.
  • The government has not provided clear clarifications on certain aspects, leading to uncertainties for banks.

Preparation and Readiness of Banks

System Development and Reporting:

  • Banks have been working on developing systems to track international card spends and ensure TCS compliance.
  • Assurances have been given by banking officials that the reporting system will be ready before June 30, enabling a smooth launch on July 1.

Concerns about System Reliability:

  • Banks remain cautious about the foolproof nature of the system due to the complexities involved.
  • With numerous exemptions and the involvement of the government, banks are concerned about the effectiveness and accuracy of the tracking and reporting systems.
  • LRS (Liberalized Remittance Scheme) introduced by the Reserve Bank of India in 2004 allows resident individuals, including minors, to freely remit up to USD 2,50,000 per financial year for eligible current or capital account transactions. However, corporations, partnership firms, HUFs, trusts, etc., are not eligible for this scheme.

Impact and Future Projections

Changes in Spending Behavior:

  • The imposition of 20% TCS on outward remittances is expected to impact the use of credit cards, gifting, and support for relatives abroad.
  • Indians may reduce their usage of credit cards for payments during travel outside India due to the inclusion of such transactions in the LRS limit.

Expected Revenue Generation:

  • The government estimates a significant increase in tax collection with a 20% TCS on overseas travel expenses.
  • Bankers project that the use of credit cards, gifts, and support for relatives abroad will decline, affecting the estimated revenue from TCS.


  • Indian banks are gearing up their systems to monitor and track expenditure on outward remittances, while also ensuring adherence to tax collection regulations outlined in the Liberalised Remittances Scheme. The impact of TCS on spending behavior and the projected revenue generation remain areas of concern for both banks and the government.


Exchange of Special Gifts between PM Narendra Modi and President Joe Biden

Why in news?

  • PM Modi receives the first edition of poems by Robert Frost, a highly esteemed poet and four-time Pulitzer Award winner by US president.


  • PM Modi's special gifts for Joe, Jill Biden: Sandalwood box, green diamond:  PICS | Latest News India - Hindustan Times PM Modi presents a unique gift to President Biden, honoring his wisdom and experience.
  • The gift signifies President Biden’s title of ‘Drishta Sahasrachandro’ meaning a wise man who has seen one thousand moons.
  • The gift includes a first edition copy of The Ten Principal Upanishads by Shree Purohit Swami and WB Yeats, published in 1937.
  • In return, PM Modi receives the first edition of poems by Robert Frost.

Frost’s Poetic Journey and Notable Works

  • Frost’s remarkable achievements and poetic journey are highlighted, starting from his Pulitzer Prize-winning collection ‘New Hampshire’ in 1924.
  • Notable works such as ‘Stopping by the Woods’ and ‘Fire and Ice’ are discussed, reflecting the themes of revolution and introspection prevalent during that era.
  • ‘The Road Not Taken’ from Frost’s collection ‘Collected Poems’ is examined, delving into the exploration of choices and the rewriting of personal histories.
  • Frost’s collection ‘A Further Range’ dedicated to his wife is mentioned, along with the famous poem ‘Mending Wall’ that explores boundaries and human relationships.
  • The final Pulitzer Prize-winning collection, ‘A Witness Tree’, includes Frost’s iconic poem ‘The Gift Outright’, recited at President Kennedy’s inaugural ceremony.

The Power of Frost’s Words

  • The lines from Frost’s poem ‘Stopping by the Woods on a Snowy Evening’ adorned the work-table of Prime Minister Nehru.
  • The poem’s lines were etched on a wooden plaque in the Circuit House of Dehradun, a place Nehru cherished, shortly before his passing.
  • President Kennedy admired Frost’s ability to use poetry as a means of saving power from itself.
  • The poem ‘The Gift Outright’ resonated with President Kennedy during his inaugural ceremony, reflecting America’s journey and its relationship with its land.
  • President Kennedy praised Frost for reminding people of their limitations, the richness of their existence, and the cleansing power of poetry.


  • The exchange of these first editions symbolizes the deep appreciation and mutual admiration between India and the United States. It highlights the timeless influence of poets like Yeats and Frost in inspiring and connecting people through their words.

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