Daily Current Affairs February 06

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 February 06. 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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February 06 | Daily Current Affairs 2024

Ranking – Daily Current Affairs February 06

1. Who has been ranked first among all Indians and second globally in the Brand Guardianship Index 2024 compiled by Brand Finance?
A) Satya Nadella
B) Mukesh Ambani
C) Sundar Pichai
D) Tim Cook
E) Elon Musk
Answer: B) Mukesh Ambani

• Reliance Industries Limited (RIL) chairman and managing director Mukesh Ambani has been ranked first among all the Indians and second globally in the Brand Guardianship Index 2024 compiled by Brand Finance.
• He was ranked ahead of global corporate leaders such as Microsoft’s Satya Nadella, Sundar Pichai of Google, Apple’s Tim Cook and Tesla’s Elon Musk, as well as fellow Indians such as Tata Sons chairman N. Chandrasekaran (ranked at No.5, up from No.8 in the 2023 ranking) and Anish Shah (ranked at at No.6) of Mahindra Group, among many others.
• Brand Finance’s survey gave Mukesh Ambani a BGI score of 80.3, just below 81.6 of Huateng Ma of China-based Tencent.
• The Brand Guardianship Index is a global recognition of CEOs, who are building business value in a sustainable manner, by balancing the needs of all stakeholders – employees, investors, and the wider society.

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Banking and Finance – Daily Current Affairs February 06

2. What did the Reserve Bank of India (RBI) conduct for the first time in a single day?
A) Repo auctions
B) Overnight variable rate reverse repo (VRRR) auctions
C) Currency exchange operations
D) Bond purchases
E) Deposit rate adjustments
Answer: B) Overnight variable rate reverse repo (VRRR) auctions

• The Reserve Bank of India (RBI) conducted two overnight variable rate reverse repo (VRRR) auctions, marking the first instance of such action in a single day.
• The move aimed to reduce liquidity from the banking system, which has been largely in deficit mode for the past four months.
• The first auction received tepid demand, with banks parking Rs 27,538 crore against a notified amount of Rs 75,000 crore.
• However, the second auction saw good demand, as banks parked Rs 41,804 crore against the notified amount of Rs 50,000 crore.
• Banks parked the funds at a weighted average rate of 6.49 per cent.
• The liquidity deficit in the banking system stood at Rs 1.21 trillion on February 5, according to data by RBI. The liquidity deficit had widened to a record Rs 3.46 trillion on January 24 on the back of tax outflows.

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Business and Economy – Daily Current Affairs February 06

3. Which organizations collaborated to establish the centre of excellence?
A) National Stock Exchange (NSE) and Indian Institute of Management Bangalore (IIMB)
B) Multi Commodity Exchange (MCX) and Indian Institute of Management Ahmedabad (IIMA)
C) National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA)
D) Bombay Stock Exchange (BSE) and Indian Institute of Management Calcutta (IIMC)
E) London Metal Exchange (LME) and Indian Institute of Management Lucknow (IIML)
Answer: C) National Commodity and Derivatives Exchange (NCDEX) and Institute of Rural Management Anand (IRMA)

• Commodity exchange NCDEX’s Investor Protection Fund and Institute of Rural Management Anand (IRMA) launched a centre of excellence in Anand, Gujarat, for growth of commodity derivatives market.
• NCDEX and IRMA would collaborate to further develop the “commodities derivatives ecosystem, providing support in the areas of research, policy formation, policy advocacy, capacity building, thought leadership, product development, and leveraging synergies within the industrial and financial ecosystem.
• IRMA will spearhead efforts to enhance the scope of commodity markets through rigorous research and analysis.
• NCDEX will provide technical support and data-related assistance.
• A national workshop on strategizing the establishment of Cooperative Economic Zones (CEZs) in India was jointly organized by IRMA, NCDEX- Investor Protection Fund Trust (IPFT) and the World Cooperation Economic Forum (WCopEF).

Keypersons:

• NCDEX MD & CEO, Arun Raste
• Director, IRMA, Umakant Dash

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Appointments – Daily Current Affairs February 06

4. Who replaced Pratik Pal as the Chief Executive Officer and Managing Director of Tata Digital?
A) Naveen Tahilyani
B) Ratan Tata
C) Pratik Pal
D) Cyrus Mistry
E) Noel Tata
Answer: A) Naveen Tahilyani

• The first Chief Executive Officer of Tata Digital, Pratik Pal, stepped down recently.
• Naveen Tahilyani replaced Pal as Chief Executive Officer and Manging Director of the company.
• Tahilyani is currently the CEO and Managing Director of Tata AIA Life insurance company.

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5. Who has been appointed as the new Chief Executive Officer (CEO) and Managing Director (MD) of Tata AIA Life Insurance?
A) Venkatachalam H
B) Naveen Tahilyani
C) Ratan Tata
D) Mukesh Ambani
E) Anand Mahindra
Answer: A) Venkatachalam H

• Tata AIA Life Insurance announced the appointment of Venkatachalam H as its new Chief Executive Officer (CEO) and Managing Director (MD).
• Venkatachalam will take over from incumbent Naveen Tahilyani, who moves to another role in Tata Group but will continue as a non-executive director of the insurance company.

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Awards – Daily Current Affairs February 06

6. What award did REC Limited receive at The Asset Triple A Awards for Sustainable Finance 2024?
A) Best Corporate Bond Award
B) Best Infrastructure Bond Award
C) Best Green Bond – Corporate Award
D) Best Social Impact Bond Award
E) Best Sustainability Initiative Award
Answer: C) Best Green Bond – Corporate Award

• REC Limited, a Maharatna Central Public Sector Enterprise under the Ministry of Power and a leading NBFC, has been bestowed with the prestigious Best Green Bond – Corporate Award at The Asset Triple A Awards for Sustainable Finance 2024.
• REC has received the award for issuance of $750 million USD Green Bonds in April 2023 which was also the first USD Green Bond issuance from India post India’s assumption of G20 Presidency and the largest ever Senior Green Bond Tranche by a South or South-East Asian issuer.
• The bond issue was priced at a minimum new issue premium of 7.5 bps, which was tighter than the most recent high-rated issuances from the region.
• This recognition represents a milestone in REC Limited’s dedication to support initiatives that drive positive environmental impact and foster sustainable development.

Note:

• In addition to the USD Green Bonds of USD 750 Million issued in April 2023, REC also priced its inaugural Euro-Yen Green bonds of JPY 61.1 Billion in January 2024, which was the largest Yen Bond issuance by an Indian corporate.

The Asset Triple A Awards:

• The Asset Triple A Awards are a pre-eminent recognition for those organizations that have excelled in their respective industry.
• The Asset Triple A Awards programmes are built upon a stringent methodology that is combined with a rigorous approach in selecting the best institutions and deals.
• The awards are adjudicated by The Asset’s board of editors who are regarded as the most experienced and collectively have several decades’ worth of evaluating industry awards.

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Science and Technology – Daily Current Affairs February 06

7. Who designed ABHYAS, also known as High-speed Expendable Aerial Target (HEAT)?
A) Defence Research & Development Organisation (DRDO)
B) Indian Space Research Organisation (ISRO)
C) Hindustan Aeronautics Limited (HAL)
D) Bharat Dynamics Limited (BDL)
E) Aeronautical Development Establishment (ADE)
Answer: E) Aeronautical Development Establishment (ADE)

• Defence Research & Development Organisation (DRDO) successfully carried out four flight trials of High-speed Expendable Aerial Target (HEAT), which can be used for weapon system firing practice is ready for production and export to friendly countries.
• Four flights of ABHYAS, designed by the DRDO’s Aeronautical Development Establishment (ADE) and called as ‘ABHYAS’, were successfully carried out from the Integrated Test Range, Chandipur in Odisha, from January 30 to February 2.
• HEAT will be used as an airborne object to target by missiles and other payloads during trials and pratice sessions.

About ABHYAS:

• It is designed for autonomous flying with the help of an auto pilot indigenously made by the ADE.
• It has Radar Cross Section, Visual and Infrared augmentation system required for weapon practice.
• It has a laptop-based Ground Control System with which the aircraft can be integrated and pre-flight checks, data recording during the flight, replay after the flight and post-flight analysis can be carried out

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National Affairs – Daily Current Affairs February 06

8. Where will the India Boat & Marine Show (IBMS) take place in Kochi?
A) Kochi International Airport
B) Marine Drive
C) Bolgatty Palace Event Centre
D) Fort Kochi Beach
E) Mattancherry Palace
Answer: C) Bolgatty Palace Event Centre

• Kerala’s commercial capital, Kochi will host the 6th edition of India Boat & Marine Show (IBMS), the country’s premier boating, marine, and water sports industry-related expo from February 8 to 10.
• This is the only trade show happening in the country for leisure and rescue boating, water sports tourism, and kayaking.
• The event, to be held at Bolgatty Palace Event Centre, comes in wake of the announcement made by Prime Minister Narendra Modi that a Rs 4,000 crore new ship repair and ship building facility at the Cochin Shipyard will open shortly.
• The event will not be just about boats and marine equipment, but will cover all water sports and activities.
• More than 60 exhibitors will display their products and services at the expo and around 5000 business visitors from across the region are expected to attend the expo.
• An industry pavilion will also showcase Kerala-based SMEs especially boatyards, equipment manufacturers etc will also be a special feature of this edition.
• A Vendor Development Programme will also be organised and this networking B2B meet will focus on the programme for the various PSUs including defence establishments, shipyards, ports and other agencies involved in these sectors from across the country

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9. Where will the World Government Summit (WGS) be held in Dubai?
A) Dubai Marina
B) Burj Khalifa
C) Zayed Sports City Stadium
D) Palm Jumeirah
E) Dubai Mall
Answer: C) Zayed Sports City Stadium

• The World Government Summit (WGS) is an annual global gathering that brings together world leaders, policymakers, experts, and thought leaders from various fields to discuss and address pressing global issues.
• Indian Prime Minister Narendra Modi is set to address the World Government Summit (WGS) in Dubai as the “guest of honour” on February 14.
• This marks the second time PM Modi has been invited to speak at the prestigious summit, the first being in 2018.
• The Zayed Sports City Stadium will host this grand gathering, touted as the largest diaspora event since Madison Square Garden in 2014.
• The UAE is home to a substantial Indian diaspora, numbering 3.5 million, one of the largest overseas Indian communities globally.
• On February 14, Prime Minister Modi will inaugurate the UAE’s first traditional stone temple, the BAPS Hindu Mandir in Abu Dhabi.
• The Hindu temple is symbolic of the UAE’s ethos of inclusivity and tolerance.

Note:

• PM Modi’s upcoming visit to the UAE will be his seventh since 2014.
• Previously, he visited the country twice in 2023, once each in 2022, 2019, 2018, and 2015
• UAE President Mohammed bin Zayed Al Nahyan graced the 10th Vibrant Gujarat edition in January as the chief guest.

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10. What is the main objective of the “Dhami against drugs campaign”?
A) To promote tourism in Uttarakhand
B) To improve healthcare facilities in the state
C) To address the challenges posed by drug addiction
D) To encourage entrepreneurship among youth
E) To promote cultural heritage and traditions
Answer: C) To address the challenges posed by drug addiction

• Uttarakhand Chief Minister Pushkar Singh Dhami launched the “Dhami against drugs campaign” being run by Bharatiya Janata Yuva Morcha Metropolitan Dehradun from February 5 to February 10.
• On this occasion, the Chief Minister also released T-shirts and posters related to the campaign.
• This initiative marks a significant stride in the State’s efforts to raise awareness and address the challenges posed by drug addiction.

Note:

• Uttarakhand government rapidly involve the students and colleges in a campaign to achieve the target of a “Drugs Free Uttarakhand” by the year 2025.

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Over All Review

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