Daily Current Affairs – June 02 & 03, 2024 » raceinstitute.in

Daily Current Affairs – June 02 & 03, 2024

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Daily Current Affairs - Banking - June 02 & 03, 2024

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National News

NHAI increases highway tolls across the country by an average of 5%

  • The National Highways Authority of India (NHAI) has decided to hike tolls across the country by an average of 5 per cent effect from June 3 2024.
  • The annual revision of highway user fee, which is expected to be in the range of average 5 per cent, was earlier to come into effect on April 1.
  • There are around 855 user fee plazas on the national highway network on which user fee is levied as per the National Highways Fee (Determination of Rates and Collection) Rules, 2008.
  • Out of these, around 675 are public-funded fee plazas and 180 are operated by concessionaires.

Indian badminton maestro, Ms PV Sindhu, announced as brand ambassador for Tobacco Control

  • The Ministry of Health and Family Welfare organized an event to observe World No Tobacco Day 2024 on May 31.
  • To motivate young children and youth to steer clear of tobacco in all forms, Indian badminton maestro PV Sindhu was designated as the brand ambassador for Tobacco Control.
  • India is the first country globally to regulate anti-tobacco warnings on streaming or OTT media platforms.
  • Operational Guidelines for Establishing Tobacco Cessation Centres in Medical Institutions was also unveiled.
  • The initiative aims to educate and sensitize medical students about tobacco cessation, aligning with the guidelines set by the National Medical Commission to train graduates in holistic medicine.
  • By offering these cessation services, medical institutions aim to substantially boost quit rates among tobacco users, thereby fortifying the overall healthcare system.
  • The integration of tobacco cessation clinics into medical and other healthcare institutions will contribute to the universalization of cessation services and strengthen the health system as a whole.

India Creates World Record with 64.2 Crore Voters Participating In Lok Sabha Polls

  • India has created a world record with 2 crore voters participating in the 18th Lok Sabha Polls held in 7 phases.
  • The number is 5 times of the voters of all G7 countries – US, UK, France, Germany, Italy, Japan and Canada.
  • 2 crore women voters cast their votes which is also the highest ever in the world.

India to host global airlines in 2025

  • India will host next year’s annual gathering of the International Air Transport Association (IATA), which represents over 330 airlines worldwide.
  • Next year’s AGM will be the third time that the world’s airline leaders gather in India.
  • The country has hosted the AGM in 1983 and 1958.
  • The IATA also announced that IndiGo’s CEO, Pieter Elbers, has taken charge of the Chair of the IATA Board of Governors (BoG).
  • His one-year term begins at the conclusion of the 80th IATA Annual General Meeting in Dubai, United Arab Emirates, on 3 June.
  • He is the 82nd Chair of the IATA BoG.
  • He served earlier on the BoG between 2016 and 2022 as KLM’s President and CEO and was reappointed to the Board in 2022 shortly after he became IndiGo’s CEO.
  • He succeeds RwandAir CEO Yvonne Manzi Makolo who will continue to serve on the BoG.
  • International Air Transport Association (IATA) – 19/04/1945 (Founded) – Montreal, Canada (HQ) – Willie Walsh (Director General)

Banking and Finance

Reserve Bank of India cancels 10-year green bond auction for first time

  • Reserve Bank of India (RBI) cancelled the auction of 10-year green bonds as traders refused to pay greenium.
  • Greenium signifies the premium investors are willing to pay for green bonds because of their sustainability impact.
  • Diverging from the pattern of issuing green bonds in the latter half, the government plans to issue green bonds worth ₹12,000 crores in the first half of the current financial year.
  • The green bonds were planned to be issued in two tranches of ₹6,000 crores each for a period of 10 years.
  • Green bonds are a type of debt issued by public or private institutions to finance themselves and, unlike other credit instruments, they commit the use of the funds obtained to an environmental project or one related to climate change.
  • After the initial groundwork in 2014, India issued its first green bond in 2015.

Axis Bank, Bajaj Allianz forge strategic bancassurance partnership

  • Axis Bank and Bajaj Allianz General Insurance, a private general insurer, have entered a strategic bancassurance partnership to boost insurance penetration and financial inclusion in the country.
  • Under this Bancassurance tie-up, a comprehensive suite of Bajaj Allianz General Insurance products will be distributed through Axis Bank’s network of 5,250 plus branches.

Business and Economy

Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore

  • The gross Goods and Services Tax (GST) revenue for the month of May 2024 stood at ₹1.73 lakh crore.
  • This represents a 10% year-on-year growth, driven by a strong increase in domestic transactions (up 15.3%) and slowing of imports (down 4.3%).
  • After accounting for refunds, the net GST revenue for May 2024 stands at ₹1.44 lakh crore, reflecting a growth of 6.9% compared to the same period last year.
  • Breakdown of May 2024 Collections:
  • Central Goods and Services Tax (CGST): ₹32,409 crores;
  • State Goods and Services Tax (SGST): ₹40,265 crores;
  • Integrated Goods and Services Tax (IGST): ₹87,781 crores, including ₹39,879 crores collected on imported goods;
  • Cess: ₹12,284 crores, including ₹1,076 crores collected on imported goods.
  • The gross GST collections in the FY 2024-25 till May 2024 stood at ₹3.83 lakh crores.
  • This represents an impressive 11.3% year-on-year growth, driven by a strong increase in domestic transactions (up 14.2%) and marginal increase in imports (up 1.4%).
  • After accounting for refunds, the net GST revenue in the FY 2024-25 till May 2024 stands at ₹3.36 lakh crore, reflecting a growth of 11.6% compared to the same period last year.

Agreements and MoUs signed

WMO signs MoU with FAO strengthen collaboration

  • World Meteorological Organization (WMO) Secretary-General Celeste Saulo signed a Memorandum of Understanding (MoU) with Food and Agriculture Organization (FAO) Director-General Qu Dongyu to extend and strengthen an existing partnership for another ten years.
  • The MoU covers five key areas:
  • Agro-meteorological services for climate resilient development, including early warning systems in the framework of Early Warnings for All.
  • Partnerships and policy dialogue for climate information and services across and within systems as part of integrated climate actions.
  • Inter-agency initiatives for disaster risk reduction and climate risk management.
  • Data, tools and methodologies to support weather, climate, hydrological, marine and environmental services.
  • Resource mobilization and knowledge transfer for climate-resilient development through, for instance, joint proposal development for the Green Climate Fund (GCF), the Global Environment Facility (GEF), The Adaptation Fund and various other mechanisms.
  • World Meteorological Organisation(WMO) – 23/03/1950 (Founded) – Geneva, Switzerland (HQ) – Dr Abdulla Al Mandous (President)
  • Food and Agriculture Organization of the United Nations (FAO) – 16/10/1945 (Founded) – Rome (HQ) – Qu Dongyu (Director General)

Nokia signs MoU with Gati Shakti Vishwavidyalaya to collaborate on 5G/6G communication research

  • Nokia has signed a Memorandum of Understanding (MoU) with the Gati Shakti Vishwavidyalaya (GSV) a university under the Ministry of Railways, for carrying out joint research related to 5G/6G communications in the transportation and logistics sector.
  • Both will collaborate on research opportunities in 5G/6G communications targeting air, land and sea transportation use cases, as well as standards development, smart factory/ automation, and AI/GenAI labs.
  • This MoU further reinforces industry-driven approach of the university to proactively co-work with the industry stakeholders for a Viksit Bharat.
  • Nokia – 12/05/1865 (Founded) – Espoo, Finland (HQ) – Pekka Lundmark (CEO)

Science and Technology

India to build new Antarctic research station, Maitri-II

  • India has decided to set up an Antarctic research station named Maitri-II.
  • This decision was taken during the 46th Antarctic Treaty Consultative Meeting (ATCM-46) held in Kochi, Kerala.
  • India has three research stations in Antarctica, namely Bharati, Dakshin Gangotri and Maitri.
  • In 1983, Dakshin Gangotri, India’s first scientific base station in Antarctica was established, about 2,500 kilometers from the South Pole.

Appointments

Claudia Sheinbaum Elected as First Woman President Of Mexico

  • Claudia Sheinbaum has been elected the first woman President of Mexico.
  • The country’s National Electoral Institute announced that Claudia Sheinbaum, candidate of the ruling Morena party, won the presidential elections with 58.3 to 60.7 percent of the votes.
  • Sheinbaum clinched victory by defeating her nearest rival Xochitl Galvez, who was representing a coalition of largely conservative parties.
  • Mexico – Mexico City (Capital) – Mexican peso (Currency) – Spanish (Official Language)

Automaker Stellantis appoints Shailesh Hazela as CEO, MD of India ops

  • Automaker Stellantis has appointed Shailesh Hazela as CEO and Managing Director of India operations by replacing Aditya Jairaj.
  • Stellantis operates three manufacturing plants (Ranjangaon, Hosur, Thiruvallur), an ICT hub (Hyderabad), Software Centre (Bengaluru), and two R&D centres in Chennai and Pune.
  • Stellantis – 17/01/2021 (Founded) – Hoofdorp, Netherlands (HQ)

Rajesh Chandiramani takes over as the CEO of Comviva

  • Comviva, a mobility solutions provider, announced that Rajesh Chandiramani has assumed the role of CEO and Whole-time Director, effective from June 01 2024 by replacing Manoranjan ‘Mao’ Mohapatra, who retired recently.

Sports News

India Bag 7 Medals Including 3 Gold, 3 Silver, One Bronze at 2024 Taiwan Athletics Open

  • India bagged seven medals including three golds, three silvers and one bronze medal at Taiwan Athletics Open 2024 held in
  • In Men’s 800 metres, India’s Ankesh Choudhary bagged the gold.
  • DP Manu in men’s Javelin throw clinched the gold medal.
  • Nayana James won gold at Women’s Long Jump.
  • Taiwan – Taipei City (Capital) – New Taiwan dollar (Currency) – Lai Ching-te (President) – Standard Chinese (Official Language)

Important Days

International Sex Workers' Day 2024 is observed on June 2

  • International Sex Workers’ Day is annually observed on June 2.
  • The day is observed to create awareness about the challenges and exploitation faced by sex workers worldwide.
  • In 1975, on June 2, around 100 sex workers gathered at Saint-Nizier Church in Lyon, France to start a conversation regarding the exploiting working and living conditions.
  • They also launched a media campaign to express their grievances.

World Bicycle Day 2024 is observed on June 3

  • World Bicycle Day is annually observed on June 3.
  • The day aims to promote various benefits of cycling, including strengthening education, promoting tolerance, preventing diseases, encouraging physical exercise and facilitating social inclusion.
  • The bicycle is an instrument of sustainable transportation and has a positive impact on climate.
  • The day was first observed on 2018 by United Nation General Assembly.

Defence

India joins U.S.’s Red Flag air and RIMPAC naval exercises

  • Indian Air Force (IAF) and Indian Navy are taking part in two mega multinational war games hosted by their S. counterparts.
  • The IAF has deployed Rafale fighter jets for the two-week multinational air exercise Red Flag which commenced in Alaska on May 30.
  • On the other hand, the Indian Navy is deploying the indigenous stealth frigate INS Shivalik for Ex RIMPAC (Rim of the Pacific) scheduled to be held in Hawaii from June 25 to August 2.
  • For this, the IAF has deployed eight Rafale fighters, three C-17 transport aircraft and two IL-78 mid-air refuelling aircraft.
  • India has taken part in Ex Red Flag in the past which even saw the deployment of Russian SU-30MKI fighter jets.

Daily Current Affairs - June 02 & 03, 2024 - Consolidated

  • NHAI increases highway tolls across the country by an average of 5%
  • Indian badminton maestro, Ms PV Sindhu, announced as brand ambassador for Tobacco Control
  • India Creates World Record with 64.2 Crore Voters Participating In Lok Sabha Polls
  • India to host global airlines in 2025
  • Reserve Bank of India cancels 10-year green bond auction for first time
  • Axis Bank, Bajaj Allianz forge strategic bancassurance partnership
  • Gross GST revenue collection in May 2024 stands at ₹1.73 lakh crore
  • WMO signs MoU with FAO strengthen collaboration
  • Nokia signs MoU with Gati Shakti Vishwavidyalaya to collaborate on 5G/6G communication research
  • India to build new Antarctic research station, Maitri-II
  • Claudia Sheinbaum Elected as First Woman President Of Mexico
  • Automaker Stellantis appoints Shailesh Hazela as CEO, MD of India ops
  • Rajesh Chandiramani takes over as the CEO of Comviva
  • India Bag 7 Medals Including 3 Gold, 3 Silver, One Bronze at 2024 Taiwan Athletics Open
  • International Sex Workers’ Day 2024 is observed on June 2
  • World Bicycle Day 2024 is observed on June 3
  • India joins U.S.’s Red Flag air and RIMPAC naval exercises

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