Daily Current Affairs – June 05 & 06, 2024
Share on facebook
Share on whatsapp
Share on twitter
Share on telegram
Share on linkedin
Share on email
Daily Current Affairs - Banking - June 05 & 06, 2024
Dear Banking Aspirants,
Prepare for the Daily Current Affairs with Veranda Race who is the pioneer in the Banking Exam Coaching. Current Affairs section is one of the important Scoring section in the Mains of many Banking Exams like SBI PO, SBI CLERK, IBPS PO, IBPS CLERK, IBPS RRB PO, IBPS RRB CLERK and multiple Insurance Exams.
Veranda Race is committed to provide Daily Current Affairs for all the days for the students who are preparing for Banking & Insurance Exams.
Check Daily for the Daily Current Affairs and also for the Quizzes to prepare for the upcoming Banking & Insurance Exams in 2023.
Download – LEGEND Monthly Current Affairs Magazine
National News
DoT Launches Initiative to Help MSMEs, Startups Embrace New Technologies
- The Department of Telecommunications (DoT) has launched a comprehensive survey to identify and address the challenges faced by Micro, Small, and Medium Enterprises (MSMEs) in adapting to new technologies.
- The survey aims to lay the groundwork for a robust ecosystem that leverage the potential of artificial intelligence (AI), the Internet of Things (IoT), cloud computing, and the integration of 5G and 6G networks.
- The 60-day survey will cover five sectors each in North and South India.
- It is designed to reveal sector-specific needs across at least ten industries, acknowledging the diverse nature of India’s MSME landscape.
Air Quality Monitoring System and Air-Pravah App unveiled on World Environment Day
- Ministry of Electronics and IT Secretary (MeitY), Krishnan inaugurated Indigenous Air Quality Monitoring System (AQ-AIMS) and launched Air-Pravah App on the occasion of World Environment Day.
- These are developed under MeitY technologies.
- It is a very cost effective solution in line with the Make in India policy, which is available in three variants depending upon the needs of industries.
- Ministry of Environment, Forest and Climate Change has mentioned that the developed system will be helpful in providing the various environmental clearances.
- Under the ‘National programme on Electronics and ICT applications in Agriculture and Environment’, the Centre for Development of Advanced Computing, Kolkata in collaboration with TeXMIN, Indian School of Mines, Dhanbad and industry partner J M Envirolab Private Limited has developed an outdoor air quality monitoring system to monitor environmental pollutants.
- The AQ-AIMS comes with the mobile application named “Air-Pravah” for real-time Air Quality Index monitoring.
- It offers quick setup, real-time data visualization, unit conversions, AQI comparison, multi-device support, data analysis tools, remote monitoring and automatic updates.
- It will be available on Android play stores.
Banking and Finance
RBI absorbs surplus liquidity aggregating ₹44,430 crore through two VRRR auctions
- The Reserve Bank of India (RBI) absorbed surplus liquidity aggregating ₹44,430 crores through two variable rate reverse repo (VRRR) auctions of three-days
- The amount was deployed by banks even as the central bank was ready to absorb a total of ₹1-lakh crore.
- In the first three-day VRRR auction for a notified amount of ₹50,000 crores.
- The central bank accepted these funds at a weighted average rate (WAR) of 6.48 percent.
- In the second three-day VRRR auction, also for a notified amount of ₹50,000 crores banks deployed funds totalling ₹2,700 crore.
- The central bank accepted these funds at a WAR of 6.49 percent.
SEBI mandates direct transfer of securities by clearing corporations to Demat accounts
- Securities and Exchange Board of India (SEBI) has made it mandatory for the clearing corporations to directly transfer the securities into DEMAT accounts of the clients.
- This will be effective from October 14,2024.
- The decision for a direct payout of securities is aimed at enhancing operational efficiency and reducing the risk to clients’ securities.
- Currently, the clearing corporation credits the pay-out of securities in the pool account of the broker, who then credits the same to the respective clients’ Demat accounts.
- This facility of direct transfer has already been available since February 1, 2001, on a voluntary basis and this has now been made mandatory.
- clearing corporations should provide a mechanism for trading members (TM) or clearing members (CM) to identify the unpaid securities and funded stocks under the margin trading facility.
- Securities and Exchange Board of India (SEBI) 21/02/1992(Founded)-Mumbai(HQ)-Madhabi Puri Buch(Chairman).
SEBI plans to raise basic service demat limit five-fold to ₹10 lakh
- Securities and Exchange Board of India (SEBI) has proposed to increase the threshold for basic service DEMAT account to ₹10 lakhs from ₹2 lakhs, in a bid to reduce cost of maintaining securities in demat accounts for retail investors.
- At present, an individual can hold debt securities worth up to ₹2 lakh and other than debt securities worth up to ₹2 lakhs in a single demat account to be eligible for BSDA.
Peru adopts India’s UPI technology for real-time payments
- NPCI International Payments Limited (NIPL) and the Central Reserve Bank of Peru (BCRP) have announced a landmark partnership to introduce a UPI-like real-time payments system in Peru.
- This collaboration makes Peru the first South American country to adopt the Unified Payment Interface (UPI) technology, showcasing India’s leadership in digital payments.
- National Payments Corporation of India – 2008 (Founded) – Mumbai (HQ) – Dilip Asbe (MD & CEO)
Business and Economy
Netherlands emerges as India's 3rd largest export destination in 2023-24
- The Netherlands has emerged as India’s third largest export destination after the US and UAE during 2023-24.
- The Ministry of commence announced that the country’s merchandise shipments dipped by over 3 per cent.
- The main commodities which registered healthy exports growth in the Netherlands include petroleum products ($14.29 billion), electrical goods, chemicals, and pharmaceuticals in the last fiscal.
- India’s trade surplus with the Netherlands has increased to USD 17.4 billion in the last fiscal from $13 billion in 2022-23.
- In 2021-22, the Netherlands was the fifth-largest destination for Indian exports, against the ninth-largest in 2020-21.
- The Netherlands is among India’s top trading partners in Europe, after Germany, Switzerland, the UK, and Belgium.
- It is also a major investor in India.
- During the last fiscal year, India received about USD $5 billion in foreign direct investment from the Netherlands, which was $2.6 billion in 2022-23.
- Netherlands – Amsterdam (Capital) – Euro & United States dollar (Currency) – Willem-Alexander (Monarch) – Mark Rutte (Prime Minister) – Dutch (Official Language)
Fitch Maintains India’s Rating at BBB-Stable
- Fitch Ratings has maintained its assessment of India’s Long-Term Foreign-Currency Issuer Default Rating (IDR) at ‘BBB- ‘with a Stable Outlook.
- Fitch Ratings assigned India a stable outlook, reflecting a positive assessment of the country’s economic conditions and prospects.
- According to the Fitch Ratings, India is expected to remain one of the fastest-growing economies globally, with a projected GDP growth rate of 6.9% for the fiscal year 2024.
- On inflation in FY25, the report says that RBI may cut its policy rate by 75bp in FY25.
India set for first current account surplus in 10 quarters by Q4FY24- Ind-Ra
- India Ratings and Research (Ind-Ra) projects that India’s current account balance (CAB) will achieve a surplus of approximately USD 6 billion (0.6 per cent of GDP) in the fourth quarter of the fiscal year 2024 (Q4FY24).
- This marks the first surplus since the first quarter of fiscal year 2022 (Q1FY22), a significant turnaround from the previous quarter’s deficit of $10.5 billion (1.2 per cent of GDP).
Agreements and MoUs signed
Centre to set up dedicated mental health assistance helpline for armed forces
- The Ministry of Defence signed a Memorandum of Understanding (MoU) with the Ministry of Health and Family Welfare (MoHFW) to facilitate collaboration between the two ministries in operating a special cell of Tele MANAS, at the Armed Forces Medical College in Pune, as a pilot project for two years.
- The MoU was signed by Aradhna Patnaik, AS & MD of MoHFW, and Lt General Daljit Singh, Director General of Armed Forces Medical Services.
- The special Tele-MANAS Cell was inaugurated on December 01 2023, at the Armed Forces Medical College in Pune by the Chief of Defence Staff, General Anil Chauhan.
- Tele MANAS is the digital extension of the District Mental Health Programme (DMHP), offering comprehensive, integrated, and inclusive 24/7 tele-mental health services.
- The initiative provides toll-free number 14416, in each State and Union Territory (UT) for easy access to mental health support.
- Currently, there are 51 operational Tele MANAS cells functioning across all 36 States and UTs, offering services in 20 different languages.
- Tele MANAS has received over 10 lakh calls and is managing more than 3,500 calls daily.
- The data indicate a significant demand for mental health services and underscores the importance of addressing mental health issues comprehensively and inclusively, particularly in specialized contexts like the Armed Forces.
Mines Ministry Signs MoU with Central TB Division Towards Elimination of Tuberculosis in the Country by 2025
- Ministry of Mines and Central TB Division of Ministry of Health & Family Welfare signed a Memorandum of Understanding in New Delhi for collaborative and convergent action towards elimination of Tuberculosis.
- This partnership aims for collaborative field actions like webinars and other awareness-building initiatives under National TB Elimination Programme by engaging the CPSEs, attached offices, subordinate offices and autonomous bodies of Ministry of Mines.
- This initiative will also help in capacity building of health functionaries of PSUs’ hospitals & health centres for specialized campaigns for eradication of TB at grass-root level.
- The MoU will forge inter-ministerial collaboration and strategic partnerships to achieve the target of Eliminating Tuberculosis (TB) in India by 2025.
MeitY in Collaboration with UNESCO Host National Workshop On Safe, Trusted, Ethical AI
- Ministry of Electronics and Information Technology in collaboration with the United Nations Education, Scientific and Cultural Organization (UNESCO) South Asia Regional Office hosted a Workshop on Safe, Trusted and Ethical Artificial Intelligence in New Delhi.
- The event was held at a crucial juncture, following the Government of India’s recent approval of the IndiaAI Mission, which has been allocated more than ₹10,000 crores, marking a significant step towards bolstering India’s AI ecosystem.
- The workshop aimed to establish a foundation for informed policy development that promotes equitable and sustainable AI adoption nationwide.
Summit & Conference
India to host IATA's annual global airlines summit after 42 years
- India will host the world’s most premier aviation event, the annual general meeting (AGM) of the International Air Transport Association (IATA)2025 after a gap of 42 years.
- This will be the third time the IATA AGM — considered one of the most significant events in the aviation industry’s calendar —has convened in Delhi, after 1958 and 1983.
- IndiGo, India’s largest airline by market share, will be the host airline of the AGM and the World Air Transport Summit, which will take place in Delhi,
Science and Technology
Indian-American Astronaut Sunita Williams Becomes First Woman to Pilot New Spacecraft On Maiden Crewed Test Flight
- Indian-Origin NASA astronaut Sunita Williams, along with Butch Wilmore, has become the first to fly to space aboard the Boeing Starliner’s in the first-ever crewed mission.
- The 59-year-old Williams created history by becoming the first woman to fly on the maiden mission of a new human-rated spacecraft.
- The crew was launched to fly aboard the United Launch Alliance’s Atlas V rocket from the Space Launch Complex-41 at the Cape Canaveral Space Force Station in Florida.
- The flight comes after several delays over the years.
- The duo will stay at the International Space Station station for about a week before returning to Earth aboard the reusable crew capsule.
- The Starliner mission aims to carry astronauts and cargo for future NASA missions to low Earth orbit.
- The first human flight was slated on May 7, but was delayed over a helium leak and later due to an issue with the ground power supply at the ULA.
- International Space Station (ISS) – 20/11/1998 (Launched)
Acquisitions and Mergers
PNB Board approves 10 percent stake dilution in Canara HSBC Life Insurance via IPO
- Punjab National Bank (PNB) announced that it has got approval from its board of directors for initiating the process to dilute 10 per cent stake in Canara HSBC Life Insurance Company by listing the insurer through an initial public offer.
Kotak Bank gets RBI nod to sell 70 percent stake in general insurance arm to Zurich Insurance
- The Reserve Bank of India has approved Zurich Insurance Company’s proposed acquisition of 70 per cent stake in Kotak Mahindra General Insurance Company for a total consideration of approximately ₹5,560 crores.
- Shares of Kotak Mahindra Bank closed at ₹1,718.75 apiece, up 4.89 per cent over the previous close on the BSE.
- Kotak Mahindra General Insurance is a 100 per cent subsidiary of Kotak Mahindra Bank.
Appointments
Kuwait's emir names Sheikh Sabah Khalid Al Sabah as new crown prince
- Sheikh Sabah Khalid Al Sabah has set to be next new crown prince of Kuwait.
- Sheikh Sabah, 71, previously served as prime minister and as foreign minister in the country.
- The announcement offered no other details or comments from Kuwait’s ruling emir, Sheikh Meshal Al Ahmad Al Jaber.
- Sheikh Meshal, 83, recently dissolved parliament for as many as four years amid the widespread political dysfunction that’s gripped Kuwait.
- Kuwait – Kuwait City (Capital) – Kuwaiti dinar (Currency) – Sheikh Meshal al-Ahmad al-Jaber Al-Sabah (Emir) – Sheikh Mohammed Sabah al-Salem al-Sabah (Prime Minister) – Arabic (Official Language)
Justice Hima Kohli to Head Supreme Court Gender Sensitization and Internal Complaints Committee
- The Chief Justice of India has re-constituted the Supreme Court Gender Sensitization and Internal Complaints Committee.
- Accordingly, Justice Hima Kohli has been appointed as the Chairperson with Justice BV Nagarathna as a Member.
- These appointments have been made by the CJI in exercise of powers conferred by Clause 4(2) of the Gender Sensitisation & Sexual Harassment of Women at the Supreme Court of India (Prevention, Prohibition & Redressal) Regulations, 2013.
- Sukhda Pritam, Additional Registrar shall serve as the Member Secretary.
- Advocate Soumyajit Pani has been appointed as a representative of the Supreme Court Bar Association.
Ranks and Indices
QS World University Rankings 2025 IIT Bombay rises 31 places to rank 118th
- The Indian Institute of Technology, Bombay has risen significantly from its 149th rank last year to 118th rank this year in the Quacquarelli Symonds (QS) World University Rankings, with an overall score of 3 out of 100.
- This is the first time since it began participating in these rankings that IIT Bombay has been ranked within the top 150 institutions.
- Notably, 61% of Indian universities have risen in rank. The Massachusetts Institute of Technology (MIT) retained its position as the best institute in the world for the 13th consecutive year.
- IIT Delhi has also been ranked at 150 and second rank in India.
- The (IISc) Bangalore ranked fourth.
Awards and Recognitions
Poet Siddhalinga Pattanashetti chosen for Gudleppa Hallikeri Award
- The veteran writer Siddalinga Pattanashettihas been selected for the prestigious Gudleppa Hallikeri Award for 2024.
- Veeranna Chekki, senior trustee of the Gudleppa Hallikeri Memorial Foundation of Hosaritti in Haveri district.
- This is the 19th award and will be presented in honour of the birth anniversary of Gudleppa Hallikeri on June 06.
- It includes a monetary prize of ₹25,000 and a memento.
- Siddhalinga Pattanashetti becomes the 19th distinguished individual to receive this honour, as stated by Veeranna Chekki.
- Basavaraj Horatti, who is the Chairman of the Legislative Council, will be in charge of the award event.
Important Days
International Day for the Fight against Illegal, Unreported and Unregulated Fishing is observed on June 5
- International Day for the Fight against Illegal, Unreported and Unregulated Fishing is annually observed on June 05.
- In December 2017 the UN General Assembly in its annual resolution on sustainable fisheries proclaimed 5 June as the “International Day for the Fight Against Illegal, Unreported and Unregulated Fishing.”
- It was first observed in 2018.
World Environment day is observed on June 5
- World Environment day is annually observed on June 05.
- It is the biggest international day for the environment led by the United Nations Environment Programme (UNEP), and held annually since 1973.
- The Kingdom of Saudi Arabia will host World Environment Day 2024 with a focus on land restoration, desertification and drought resilience. Land restoration is a key pillar of the UN Decade on Ecosystem Restoration (2021-2030), a rallying call for the protection and revival of ecosystems all around the world, which is critical to achieve the Sustainable Development Goals.
- The Theme of World Environment day 2024 is “Land restoration, desertification and drought resilience”.
UN Russian Language Day is celebrated on June 6
- UN Russian Language Day is annually celebrated on June 6.
- The Day commemorates the birthday of the great Russian poet Alexander Pushkin.
- This Day was set by the decision of the UN Department of Public Information in 2010.
- It is the second time (first was in 2023) when the Russian Language Day is celebrated at the Organization’s Headquarters.
Defence
MoD inks MoUs with 4 banks to onboard them as 'SPARSH' service centres
- Defence Accounts Department (DAD), Ministry of Defence has signed Memoranda of Understanding (MoUs) with Bank of India, Canara Bank, Central Bank of India and Utkarsh Small Finance Bank in New Delhi to on-board them as SPARSH [System for Pension Administration (Raksha)] Service Centres across 1,128 branches of the four banks across the country.
- The System for Pension Administration (RAKSHA) or SPARSH is a web-based system for processing pension claims and crediting the pension directly into the bank accounts of defence pensioners without any external intermediary.
- The MoUs will provide last-mile connectivity to pensioners, especially in remote areas where they do not have technical wherewithal to log on to SPARSH.
- SPARSH is an initiative of the Ministry of Defence which aims to provide comprehensive solution to the defence pensioners.
- It is a fundamental change in managing defence pensions as it focuses on bringing in efficiency, responsiveness and transparency.
- SPARSH services would be available at over 26,000 branches of a total of 15 banks across the country.
- This is in addition to 199 dedicated service centres of the DAD, and more than 75 lakh common service centres across the country.
Daily Current Affairs - June 05 & 06, 2024 - Consolidated
- DoT Launches Initiative to Help MSMEs, Startups Embrace New Technologies
- Air Quality Monitoring System and Air-Pravah App unveiled on World Environment Day
- RBI absorbs surplus liquidity aggregating ₹44,430 crore through two VRRR auctions
- SEBI mandates direct transfer of securities by clearing corporations to Demat accounts
- SEBI plans to raise basic service demat limit five-fold to ₹10 lakh
- Peru adopts India’s UPI technology for real-time payments
- Netherlands emerges as India’s 3rd largest export destination in 2023-24
- Fitch Maintains India’s Rating at BBB-Stable
- India set for first current account surplus in 10 quarters by Q4FY24- Ind-Ra
- Centre to set up dedicated mental health assistance helpline for armed forces
- Mines Ministry Signs MoU with Central TB Division Towards Elimination of Tuberculosis in the Country by 2025
- MeitY in Collaboration with UNESCO Host National Workshop On Safe, Trusted, Ethical AI
- India to host IATA’s annual global airlines summit after 42 years
- Indian-American Astronaut Sunita Williams Becomes First Woman to Pilot New Spacecraft On Maiden Crewed Test Flight
- PNB Board approves 10 percent stake dilution in Canara HSBC Life Insurance via IPO
- Kotak Bank gets RBI nod to sell 70 percent stake in general insurance arm to Zurich Insurance
- Kuwait’s emir names Sheikh Sabah Khalid Al Sabah as new crown prince
- Justice Hima Kohli to Head Supreme Court Gender Sensitization and Internal Complaints Committee
- QS World University Rankings 2025 IIT Bombay rises 31 places to rank 118th
- Poet Siddhalinga Pattanashetti chosen for Gudleppa Hallikeri Award
- International Day for the Fight against Illegal, Unreported and Unregulated Fishing is observed on June 5
- World Environment day is observed on June 5
- UN Russian Language Day is celebrated on June 6
- MoD inks MoUs with 4 banks to onboard them as ‘SPARSH’ service centres
Do you wish to crack Banking Exams in 2024? - Register Now
Take your first step to your DREAM GOVERNMENT JOB
Enquire for Next Batch.