Daily Current Affairs June 07

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs June 07. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing  Daily GK Updates, Current Affairs Questions, and Monthly  current affairs pdf.

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June 07 | Daily Current Affairs 2024

Important Days – Daily Current Affairs June 07

1. What is the theme for World Food Safety Day 2024?
A) Food Safety, Everyone’s Business
B) Food Safety: Preventing Illness
C) Safe Food, Healthy Tomorrow
D) Food Safety: Prepare for the Unexpected
E) Ensuring Safe Food Practices
Answer: D) Food Safety: Prepare for the Unexpected

Event and Location:

• Event: World Food Safety Day 2024
• Date: 7th June 2024
• Global Observance: Worldwide

Mandates and Objectives:

• Objective: Highlight the importance of food safety and promote actions to prevent and manage food-borne risks.
• Aim: Educate people about food safety to prevent illnesses and deaths caused by contaminated food.

Importance:

• Ensure nutritious and safe food to promote health.
• Prevent the growth of bacteria causing severe illness.
• Raise awareness about food safety standards globally.

Important Points:

• First Observed: June 7, 2019
• Annual Deaths from Food-Borne Illnesses: Approximately 420,000 (WHO estimate)
  Organizations Involved: WHO, FAO

History:

• 2016: WHO and FAO celebrated Food Security Day.
• 2017: FAO supported the idea at its 40th session.
• 2018: World Food Security Day marked on June 7.
• 2020: World Health Assembly passed Resolution WHA 73.5 recognizing food security.

Important Terms Explained:

• Food Safety: The practice of storing, preparing, consuming, and delivering food in a way that preserves nutrition and health, preventing food-borne illnesses.
• Food-Borne Illnesses: Illnesses caused by consuming contaminated food, leading to severe health issues and deaths.

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Banking and Finance – Daily Current Affairs June 06

2. What was the key decision made by the RBI Monetary Policy Committee (MPC) in its June 2024 meeting?
A) Increase the repo rate
B) Decrease the repo rate
C) Hold the repo rate at 6.5%
D) Implement a new economic stimulus package
E) Change the policy stance to accommodative
Answer: C) Hold the repo rate at 6.5%

Event and Location:

• Event: RBI Monetary Policy Committee (MPC) Meeting
• Location: Reserve Bank of India
• Date: June 7, 2024

Mandates and Objectives:

• Objective: Maintain price stability and support economic growth.
• Policy Decision: Hold the repo rate at 6.5% for the eighth consecutive time since February 2023.
• Focus: Withdrawal of accommodative monetary policy stance to curb inflation.

Important Points:

• Growth Projection: Raised to 7.2% for FY25.
• Inflation Forecast: Retained at 4.5% for FY25.
• Foreign Exchange Reserves: Reached a high of $651.5 billion as of May 31, 2024.
• Bulk Deposit Threshold: Raised to ₹3 crore from ₹2 crore.
• New Initiatives:
  • Digital Payments Intelligence Platform: To harness advanced technologies for mitigating payment fraud risks.
  • Auto Replenishment: For balance Fastag, NCMC, and UPI-Lite wallets under the e-mandate framework.
• Next Policy Announcement: Scheduled for August 8, 2024.

Important Terms Explained:

• Repo Rate: The rate at which the RBI lends money to commercial banks.
• Withdrawal of Accommodation: A policy stance aimed at reducing the level of monetary stimulus to control inflation.
• Digital Payments Intelligence Platform: A proposed platform to enhance the detection and prevention of fraud in digital transactions.

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3. What new facility has the RBI proposed for UPI Lite wallets to promote small-value digital payments?
A) Increase daily limit to ₹5,000
B) Allow automatic replenishment
C) Reduce single payment limit to ₹200
D) Introduce cashback offers
E) Integrate with international payments
Answer: B) Allow automatic replenishment

Event and Location:

• Event: RBI’s proposal for UPI Lite wallet enhancement
• Location: Reserve Bank of India

Mandates and Objectives:

• Objective: Promote small-value digital payments and enhance user convenience.
• Proposal: Allow automatic replenishment of UPI Lite wallets.

Important Points:

• Current Limits:
  • Daily Limit: ₹2,000
  • Single Payment Limit: ₹500
  • Maximum Balance: ₹2,000
• New Facility:
  • Automatic Replenishment: Customers can set a threshold limit, and the wallet will automatically refill when the balance goes below this limit.
• Purpose: Increase the ease and adoption of UPI Lite for small-value transactions.
• Additional Integration:
  • e-Mandate Framework: Includes auto-replenishment for Fastag and National Common Mobility Card (NCMC) balances.
  • Impact: Enhances convenience for travel/mobility-related payments.

Important Terms Explained:

• UPI Lite: A simplified version of the Unified Payments Interface designed for small-value transactions through an on-device wallet.
• e-Mandate Framework: A system allowing automatic, recurring transactions without fixed periodicity.

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Business and Economy – Daily Current Affairs June 07

4. What is the revised GDP growth projection for FY25 as announced by the RBI?
A) 7.0%
B) 7.1%
C) 7.2%
D) 7.3%
E) 7.4%
Answer: C) 7.2%

Event and Location:

• Event: RBI revises GDP growth projection for FY25
• Location: Reserve Bank of India

Mandates and Objectives:

• Objective: Update the real GDP growth projection and CPI inflation projection for FY25.
• Aim: Reflect the latest economic conditions and expectations.

Significance:

• Enhances understanding of the economic outlook.
• Provides guidance for economic planning and policy.

Important Points:

• Revised GDP Growth Projection: 7.2% for FY25, up from the previous 7.0%.
• Quarterly GDP Projections:
  • Q1: 7.3% (previously 7.1%)
  • Q2: 7.2% (previously 6.9%)
  • Q3: 7.3% (previously 7.0%)
  • Q4: 7.2% (previously 7.0%)
• CPI Inflation Projection for FY25: Retained at 4.5%
  • Q1: 4.9%
  • Q2: 3.8%
  • Q3: 4.6%
  • Q4: 4.5%
• Risks: Evenly balanced as per the RBI Governor, Shaktikanta Das.

Important Terms Explained:

• GDP (Gross Domestic Product): The total value of goods and services produced in a country over a specific period.
• CPI (Consumer Price Index) Inflation: A measure of the average change in prices paid by consumers for goods and services over time.
• Quarterly Projections: Economic forecasts divided into three-month periods within the fiscal year.

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Acquisitions and Mergers – Daily Current Affairs June 07

5. What significant approval did the Air India-Vistara merger receive to proceed with their integration process?
A) Approval from the Ministry of Civil Aviation
B) Approval from the Directorate General of Civil Aviation
C) Approval from the National Company Law Tribunal
D) Approval from the International Air Transport Association
E) Approval from the Ministry of Finance
Answer: C) Approval from the National Company Law Tribunal

Event and Location:

• Event: Approval of Air India-Vistara Merger
• Location: India

Mandates and Objectives:

• Objective: Merge Air India and Vistara to form India’s largest international carrier.
• Aim:
  • Increase operational efficiency by eliminating duplicities in resources and operations.
  • Integrate workforce and route networks without grounding flights.
• Consultants Involved: BCG, Sabre, Oliver Wyman.

Important Points:

• NCLT Approval: The National Company Law Tribunal (NCLT) approved the merger.
• CCI Approval: The Competition Commission of India had already approved the merger in September 2023.
• Operational Impact: Air India will become the largest international carrier in India, operating flights to five continents.
• Integration Process:
  • Gradual integration of networks, human resources, and fleet deployments.
  • Approximately 7,000 Vistara employees assessed for new positions in Air India.
  • Initial transfers include 60 non-flying employees and 120 pilots between the airlines.
• Employee Concerns: Vistara employees are concerned about clarity on future job roles.

Important Terms Explained:

• NCLT (National Company Law Tribunal): A quasi-judicial body in India that adjudicates issues relating to company law.
• CCI (Competition Commission of India): A regulatory body responsible for enforcing the Competition Act, 2002 throughout India.
• Merger: The combining of two or more companies into a single entity to enhance competitive strengths and efficiencies.

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6. What significant transaction did the Reserve Bank of India approve involving Kotak Mahindra Bank’s insurance arm?
A) Sale of 50% stake to Zurich Insurance
B) Acquisition of 70% stake by Zurich Insurance
C) Merger with another insurance company
D) Launch of a new insurance product
E) Transfer of management control to Zurich Insurance
Answer: B) Acquisition of 70% stake by Zurich Insurance

Event and Location:

• Event: RBI Approval for Zurich’s Stake Acquisition
• Location: India

Mandates and Objectives:

• Objective: Approve Zurich Insurance Company’s acquisition of a 70% stake in Kotak Mahindra General Insurance Company.
• Aim:
  • Facilitate the acquisition transaction worth Rs 5,560 crore.
  • Ensure compliance with regulatory requirements for the stake acquisition.
• Approvals: All necessary approvals have been obtained, and the transaction will proceed upon completion of other conditions.

Important Points:

• Acquisition Details:
  • Stake: 70%
  • Acquirer: Zurich Insurance Company
  • Target: Kotak Mahindra General Insurance Company
  • Value: Rs 5,560 crore
• Approval Date: June 4, 2024
• Confirmation: Kotak Mahindra Bank confirmed the receipt of all necessary approvals via an exchange filing on June 5.

Important Terms Explained:

• Stake Acquisition: The purchase of a significant percentage of a company’s shares, granting the acquirer partial ownership and control.
• RBI (Reserve Bank of India): The central banking institution of India, which regulates the monetary policy of the Indian rupee and oversees financial stability.
• Kotak Mahindra General Insurance Company: A subsidiary of Kotak Mahindra Bank providing general insurance products.

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Appointments – Daily Current Affairs June 07

7. Who recently took over as the Director General of Employees’ State Insurance Corporation (ESIC)?
A) Rajiv Kumar
B) Sanjay Malhotra
C) Kamal Kishore Soan
D) Anil Dhupar
E) Ritesh Jain
Answer: C) Kamal Kishore Soan

Event and Location:

• Event: Kamal Kishore Soan takes charge as Director General of ESIC
• Location: Ministry of Labour & Employment, India
• Date: May 31, 2024

Mandates and Objectives:

• Objective: Appoint a new Director General for ESIC to oversee its functions.
• Aim: Ensure efficient management and governance of ESIC.
• Significance: Soan’s vast experience in various departments will enhance the operations and effectiveness of ESIC.

Important Points:

• New Position: Director General, Employees’ State Insurance Corporation (ESIC)
• Previous Position: Additional Secretary and Director General, Labour Welfare in the Ministry of Labour & Employment.
• Experience:
  • Senior IAS officer from Jharkhand Cadre (Batch: 1998)
  • Governance and management experience in departments such as Land Revenue Management, District Administration, Agriculture & Cooperation, Health, Building Construction, Transport, Finance, Energy, Water Resources, Social Justice & Empowerment.

Important Terms Explained:

• ESIC (Employees’ State Insurance Corporation): A statutory social security body under the Ministry of Labour and Employment, Government of India, providing health insurance and other benefits to workers.
• IAS (Indian Administrative Service): The administrative arm of the All India Services of Government of India.

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Awards – Daily Current Affairs June 07

8. Who were the recipients of the Dilip Bose lifetime achievement award announced by the All India Tennis Association (AITA) on June 4, 2024?
A) Akhtar Ali and Nandan Bal
B) Nar Singh and Rohini Lokhande
C) Shambhavi Kshirsagar and Divya Deshmukh
D) Keerthivassan Suresh and Ankita Raina
E) Pranav Anand and Mayank Chakraborty
Answer: B) Nar Singh and Rohini Lokhande

Event and Location:

• Event: Dilip Bose lifetime achievement award announcement
• Location: National Coaches Workshop, PYC Hindu Gymkhana, Pune
• Date: 4th June 2024

Mandates and Objectives:

• Objective: Recognize and honor lifetime achievements in tennis coaching.
• Award Details: Each recipient receives the Dilip Bose award along with a cash prize of Rs. 50,000.
• Training: Professional development through the National Coaches Workshop focusing on technology and allied services in tennis.

Important Points:

• Recipients:
  • Nar Singh: 11th recipient, has served as a coach and educator.
  • Rohini Lokhande: First woman coach to receive the award, trained thousands of players.
• Previous Recipients: Includes Balram Singh, Akhtar Ali, Nandan Bal, CGK Bhupathi, Enrico Piperno, and others.
• Event Theme: Technology and allied services in tennis.
• Keynote Address: Delivered by Miguel Crespo from the International Tennis Federation (ITF).

Important Terms Explained:

• Dilip Bose Award: A prestigious recognition for lifetime achievements in tennis coaching.
• National Coaches Workshop: An event organized by AITA to provide training and development for tennis coaches.
• AITA (All India Tennis Association): Governing body for tennis in India.

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Science and Technology – Daily Current Affairs June 07

9. What is the name of the new AI platform launched by TCS to facilitate the adoption of generative AI?
A) TCS AI Fusion
B) TCS AI Cloud
C) TCS AI Topaz
D) TCS AI WisdomNext
E) TCS AI FullStride
Answer: D) TCS AI WisdomNext

Event and Location:

• Event: Launch of TCS AI WisdomNext
• Location: Mumbai-headquartered Tata Consultancy Services Ltd (TCS)

Mandates and Objectives:

• Objective: Facilitate the adoption of generative AI (GenAI) at affordable costs.
• Aim: Provide unified AI and cloud solutions under one platform.
• Significance:
  • First Indian IT company to merge AI and cloud businesses into a single entity – AI.Cloud.
  • Simplify client engagement by offering AI and cloud solutions under one banner.

Important Points:

• Platform Name: TCS AI WisdomNext
• Integration: AI and cloud solutions delivered under one unit, AI.Cloud.
• Customizable Solutions: Offers clients customizable industry blueprints based on TCS’s experience across various industries.
• Client Base: 100 customers across verticals such as banking, financial services, retail, consumer goods, travel, manufacturing, life sciences, and healthcare.
• Purpose: Augmenting the ability of AI engineers to build high-quality, efficient solutions.

Important Terms Explained:

• GenAI (Generative AI): A type of artificial intelligence technology that can generate new content, such as text, images, or audio, based on input data.
• AI.Cloud: The newly-carved unit of TCS integrating AI and cloud services.
• Industry Blueprints: Pre-designed frameworks tailored to specific industries to expedite the implementation of AI solutions.

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National Affairs – Daily Current Affairs June 07

10. What is the notable feature introduced in the 18th Mumbai International Film Festival (MIFF) in 2024 to support documentary films?
A) Introduction of the Golden Conch Award
B) Introduction of the DOC Film Bazaar
C) Special screenings for visually impaired
D) Launch of a new animation section
E) Free registrations for students
Answer: B) Introduction of the DOC Film Bazaar

Event and Location:

• Event: 18th Mumbai International Film Festival (MIFF)
• Location:
  • Main Venue: FD-NFDC Complex, Mumbai
  • Parallel Screenings: Delhi (Sirifort Auditorium), Chennai (Tagore Film Centre), Pune (NFAI auditorium), Kolkata (SRFTI Auditorium)
• Dates: 15th June to 21st June, 2024

Mandates and Objectives:

• Championing Documentary Films through the DOC Film Bazaar.
• Hosting a diverse array of 314 films from 59 countries across 61 languages.
• Engaging industry luminaries in over 25 masterclasses, panel discussions, and open forums.
• Enhancing accessibility for differently-abled attendees with audio descriptions, sign language, and closed captions.
• Ensuring an inclusive environment by partnering with Svayam for full venue accessibility.

Important Terms Explained:

• DOC Film Bazaar: A platform within MIFF for documentary filmmakers to find buyers, sponsors, and collaborators. It includes curated verticals like the Co-production Market, Work-in-progress (WIP) Lab, and Viewing Room.
• Golden Conch Award: Prestigious award for the best documentary film at MIFF.
• NFDC: National Film Development Corporation, involved in organizing the MIFF and preserving film archives.
• FIPRESCI: International Federation of Film Critics, which also provides awards during the festival.

Important Points:

• Date: 15th to 21st June, 2024
• Venue: FD-NFDC Complex, Mumbai
• Record Submissions: 1018 films from 59 countries
• New Feature: DOC Film Bazaar for documentary filmmakers
• Masterclasses: 25+ industry luminaries to participate
• Accessibility: Films for visually and hearing impaired
• Jury Members: International and national film personalities

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11. What is the main objective of the MoU signed between CSC SPV and the Ministry of Agriculture & Farmer’s Welfare?
A) Increase crop insurance coverage
B) Introduce new agricultural techniques
C) Convert FPOs into CSCs
D) Promote organic farming
E) Develop new agricultural markets
Answer: C) Convert FPOs into CSCs

Event and Location:

• Event: Signing of MoU between CSC SPV and Ministry of Agriculture & Farmer’s Welfare
• Location: Delhi
• Date: 7th June 2024

Mandates and Objectives:

• Objective: Convert 10,000 Farmer Producer Organizations (FPOs) into Common Service Centres (CSCs).
• Aim: Deliver citizen-centric services through the Digital Seva Portal.
• Training: CSCs will provide training and capacity building for FPOs.
• Benefits: Increase employment opportunities in rural areas, enhance the reach of services like tele-consultation, crop insurance, e-veterinary, Kisan Credit Card, and PM Kisan schemes.

Important Points:

• MoU Signatories: Sanjay Rakesh (MD & CEO, CSC SPV) and Faiz Ahmed Kidwai (Additional Secretary, Ministry of Agriculture)
• Chief Guest: Manoj Ahuja (Secretary, Ministry of Agriculture and Farmers Welfare)
  Service Integration: FPOs will provide services on the Digital Seva Portal.
• Government Scheme: Central Sector Scheme for the formation and promotion of 10,000 FPOs, launched in 2020.
• Economic Impact: Enhancing farmers’ incomes, reducing production costs, and leveraging economies of scale.

Important Terms Explained:

• CSC (Common Service Centres): A government initiative to provide e-services to rural and remote locations in India.
• FPO (Farmer Producer Organizations): Collectives of farmers aimed at improving their bargaining power and incomes.
• Digital Seva Portal: An online platform providing various e-governance services to citizens.
• MoU (Memorandum of Understanding): A formal agreement between two or more parties.

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12. What is the primary objective of the Nakshatra Sabha initiative launched by Uttarakhand Tourism?
A) Promote organic farming
B) Preserve the night skies
C) Develop new trekking routes
D) Increase wildlife conservation efforts
E) Launch a new festival
Answer: B) Preserve the night skies

Event and Location:

• Event: Launch of Nakshatra Sabha, India’s first astro-tourism campaign
• Location: Mussoorie, expanding to Uttarkashi, Pithoragarh, Nainital, and Chamoli in Uttarakhand
• Date: Commences in early June 2024 and continues until mid-2025

Mandates and Objectives:

• Objective: Preserve night skies, boost local economies, and offer training opportunities.
• Activities: Stargazing, solar observations, astrophotography contests, and camping.
• Goals:
  • Create an engaging platform for astronomy enthusiasts.
  • Enhance educational aspects with seminars and webinars.
  • Develop a dark sky preservation policy.
  • Provide professional training and skill development for locals.

Important Points:

• Partnership: Uttarakhand Tourism Development Board and Starscapes
• Tourism Potential: Recognized by the Secretary of Tourism for its natural beauty and hospitality sector.
• Community Involvement: Collaboration with local communities and travel partners.
• Economic Impact: Aims to boost local economies through increased tourism.

Important Terms Explained:

• Astro Tourism: Tourism focused on activities related to astronomy, such as stargazing and astrophotography.
• Preservation of Night Skies: Conservation of natural darkness by reducing light pollution to protect celestial visibility and nocturnal ecosystems.

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13. Which two bird sanctuaries from Bihar were recently added to the Ramsar Sites list, bringing India’s total to 82?
A) Kanwar Lake and Suraha Lake
B) Nagi and Nakti
C) Kabar Taal and Udaypur
D) Bhimbandh and Kusheshwar Asthan
E) Valmiki and Vikramshila
Answer: B) Nagi and Nakti

Event and Location:

• Event: Addition of Nagi and Nakti bird sanctuaries to Ramsar Sites list
• Location: Jamui District, Bihar
• Date: Announced on June 5, 2024, World Environment Day

Mandates and Objectives:

• Objective: Recognize and protect the ecological importance of Nagi and Nakti bird sanctuaries.
• Aim: Enhance bird conservation efforts and protect biodiversity.
• Significance:
  • Brings India’s total Ramsar Sites to 82, equalizing with China.
  • Recognizes the importance of these wetlands for migratory and threatened species.

Important Points:

• Nagi Bird Sanctuary (Site no. 2545):
  • Established following the construction of a dam on the Nagi River.
  • Recognized as an Important Bird and Biodiversity Area (IBA) by BirdLife International.
    Habitat for over 75 bird species, 33 fish species, and 12 aquatic plants.
  • Hosts large congregations of bar-headed geese and threatened migratory species like Baer’s pochard and steppe eagle.
• Nakti Bird Sanctuary (Site no. 2546):
  • Developed primarily for irrigation through the construction of Nakti Dam.
  • Provides habitat for over 150 species of birds, mammals, fish, aquatic plants, reptiles, and amphibians.
  • Notable for large congregations of red-crested pochard and Indian elephants.

Important Terms Explained:

• Ramsar Sites: Wetlands of international importance under the Ramsar Convention, aimed at conserving and sustainably utilizing wetlands.
• IBA (Important Bird and Biodiversity Area): Areas recognized internationally for their importance to bird conservation by BirdLife International.

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