Daily Current Affairs July 02

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 July 02. 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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July 02 | Daily Current Affairs 2024

Important Days – Daily Current Affairs July 02

1. When is World UFO Day officially celebrated each year?
A) June 24th
B) July 2nd
C) August 15th
D) September 21st
E) October 10th
Answer: B) July 2nd

Event and Location:

• Event: World UFO Day
• Location: Globally

Mandates and Objectives:

• To bring together UFO enthusiasts.
• To raise awareness about unidentified flying objects (UFOs).
• To encourage people to think about extraterrestrial life and the vastness of the universe.

Important Terms Explained:

• Rosswell Incident:
  • An event in 1947 where an alleged alien spacecraft reportedly crashed in Rosswell, New Mexico.
  • Conspiracy theorists believe it was covered up by the US government.
• World UFO Day Organization (WUFODO):
  • An organization that declared July 2nd as the official World UFO Day to avoid confusion with the previously celebrated date of June 24th.

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Banking and Finance – Daily Current Affairs July 02

2. What is the main objective of the new draft regulations unveiled by the RBI?
A) Increase import duties
B) Simplify tax collection
C) Streamline export and import transactions
D) Promote foreign investments
E) Regulate cryptocurrency trading
Answer: C) Streamline export and import transactions

Event and Location:

• Event: RBI unveils draft regulations covering export and import transactions
• Location: India

Mandates and Objectives:

• Rationalize and streamline export and import transactions.
• Empower Authorized Dealer (AD) banks.
• Ensure timely realization of export proceeds.
• Promote ease of doing business, especially for small exporters and importers.

Important Terms Explained:

• RBI (Reserve Bank of India):
  • The central bank of India responsible for regulating the country’s monetary policy and financial system.
• AD Banks (Authorized Dealer Banks):
  • Banks authorized by the RBI to deal in foreign exchange and facilitate international trade transactions.
• Export and Import Transactions:
  • Processes involving the selling of goods and services to foreign countries (exports) and buying goods and services from foreign countries (imports).

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3. What is the name of the new forex prepaid card launched by ICICI Bank for students going abroad for higher education?
A) Student Platinum Forex Card
B) Student Titanium Forex Card
C) Student Diamond Forex Card
D) Student Sapphire Forex Card
E) Student Ruby Forex Card
Answer: D) Student Sapphiro Forex Card

Event and Location:

• Event: Launch of Student Sapphiro Forex Card
• Location: India

Mandates and Objectives:

•  Provide a forex prepaid card for students going abroad for higher education.
• Offer benefits and convenience in managing education-related expenses abroad.
• Facilitate transactions in multiple currencies without cross-currency mark-up charges.

Important Terms Explained:

• Forex Prepaid Card:
  • A card that can be preloaded with foreign currencies and used for transactions abroad.
• Cross-Currency Mark-Up Charge:
  • Additional charge levied for converting one currency to another during a transaction.
  • The Student Sapphiro Forex Card does not have this charge.

Card Features:

• Currencies: Allows loading and transacting in 15 different currencies.
• Joining Benefits: Offers up to ₹15,000 in joining benefits.
• Replacement Card: Comes with a primary and replacement card, both can be activated digitally.
• Digital Reloading: Can be reloaded using iMobile Pay and internet banking.
• Payment Solutions: Facilitates payment of tuition and daily expenses, and can be reloaded by parents from anywhere.

Key Figures:

• Niraj Tralshawala: Head of Payment Solutions, ICICI Bank
• Sujai Raina: Country Manager, Visa India

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4. Which platform has DBS Bank India partnered with to offer a pre-shipment financing solution?
A) NSE
B) BSE
C) RXIL
D) SEBI
E) IRDAI
Answer: C) RXIL

Event and Location:

• Event: Launch of pre-shipment financing solution by DBS Bank India
• Location: India

Mandates and Objectives:

• Provide pre-shipment financing to MSMEs and SMEs.
• Enhance cash flows to fulfill orders before goods are delivered.
• Support the supplier’s entire trade cycle using alternative trade lending data.

Important Terms Explained:

• Pre-Shipment Financing:
  • Funding provided to businesses before goods are shipped to buyers.
• TReDS (Trade Receivables e-Discounting System):
  • An electronic platform for facilitating the financing/discounting of trade receivables of MSMEs.
• RXIL (Receivables Exchange of India Limited):
  • A TReDS platform that DBS Bank India has partnered with for this solution.

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Business and Economy – Daily Current Affairs July 02

5. What is the net asset value (NAV) of the Bajaj Allianz Life Nifty Alpha 50 Index Fund during the New Fund Offer (NFO) period?
A) ₹5
B) ₹10
C) ₹15
D) ₹20
E) ₹25
Answer: B) ₹10

Event and Location:

• Event: Launch of Bajaj Allianz Life Nifty Alpha 50 Index Fund
• Location: India

Mandates and Objectives:

• Provide ULIP customers with potential wealth enhancement.
• Offer life insurance benefits alongside investment opportunities.
• Replicate the performance of the Nifty Alpha 50 index.

Important Terms Explained:

• Nifty Alpha 50 Index Fund:
  • A market-linked index fund that mirrors the Nifty Alpha 50 index.
  • Targets high alpha and low volatility large-cap stocks.
• ULIP (Unit-Linked Insurance Product):
  • A financial product combining life insurance with investment.
• Jensen Alpha (α):
  • Measures a stock’s performance relative to expectations based on its volatility.
  • A positive alpha indicates better-than-expected performance, while a negative alpha indicates underperformance.
• New Fund Offer (NFO):
  • The initial period during which a new fund is available for subscription.
  • NAV during NFO for Bajaj Allianz Life Nifty Alpha 50 Index Fund is ₹10.

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Appointments – Daily Current Affairs July 02

6. Who are the new Gen Z cricketers signed as brand ambassadors for Puma India?
A) Virat Kohli and Mohammed Shami
B) Kareena Kapoor Khan and Harmanpreet Kaur
C) Riyan Parag and Nitish Kumar Reddy
D) MC Mary Kom and Avani Lakhera
E) Ibrahim Ali Khan and Shanaya Kapoor
Answer: C) Riyan Parag and Nitish Kumar Reddy

Event and Location:

• Event: Puma India signs new Gen Z cricketers as brand ambassadors
• Location: India

Mandates and Objectives:

• Nurture young talent in cricket.
• Strengthen Puma’s connection with youth culture in India.

Important Terms Explained:

• Riyan Parag:
  • 22-year-old right-hand batsman from Guwahati.
  • Highest run-getter among uncapped players in a recent cricket league.
  • Part of the victorious Indian Under-19 team at the 2018 Under-19 Cricket World Cup.
• Nitish Kumar Reddy:
  • 21-year-old all-rounder from Andhra Pradesh.
  • Earned the Emerging Player title in a recent cricket league.
• Brand Ambassadors:
  • Individuals who represent and promote a brand’s products and initiatives.
• Puma India:
  • A leading sports brand known for its footwear, apparel, athleisure, and accessories.

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Defence – Daily Current Affairs July 02

7. Which state in India signed MoUs with the Ministry of Defence to establish Defence Testing Centres?
A) Maharashtra
B) Karnataka
C) Tamil Nadu
D) Gujarat
E) Rajasthan
Answer: C) Tamil Nadu

Event and Location:

• Event: Signing of MoUs to establish Defence Testing Centres
• Location: Tamil Nadu, India

Mandates and Objectives:

• Establish the country’s first three Defence Testing Centres.
  • Promote defence testing infrastructure in India.
  • Enhance the capabilities of the defence sector in Tamil Nadu.
  • Initiative: Defence Testing Infrastructure Scheme (DTIS)

Important Terms Explained:

• Memorandum of Understanding (MoU):
  • A formal agreement between two or more parties to establish a collaborative partnership.
• Defence Testing Infrastructure Scheme (DTIS):
  • A scheme aimed at creating state-of-the-art testing facilities for the defence sector to ensure high-quality standards and promote self-reliance in defence production.
• Ministry of Defence (MoD):
  • The Indian government ministry responsible for coordinating and supervising all agencies and functions related to national security and the armed forces.

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International Affairs – Daily Current Affairs July 02

8. Who is featured on the new 10,000-yen note introduced by Japan?
A) Tsuda Umeko
B) Kitasato Shibasaburo
C) Shibusawa Eiichi
D) Hideyo Noguchi
E) Natsume Soseki
Answer: C) Shibusawa Eiichi

Event and Location:

• Event: Introduction of new banknotes in Japan
• Location: Japan

Mandates and Objectives:

• Introduce new banknotes for the first time in 20 years.
• Enhance security with cutting-edge anti-counterfeiting technology.
• Make banknotes easier to read with larger fonts.

Important Terms Explained:

• Shibusawa Eiichi:
  • Featured on the new 10,000-yen note.
  • Known as the father of the modern Japanese economy.
• Tsuda Umeko:
  • Featured on the new 5,000-yen note.
  • One of the first Japanese women to study abroad in the United States.
• Kitasato Shibasaburo:
  • Featured on the new 1,000-yen note.
  • Bacteriologist who developed a cure for tetanus.
• Hologram:
  • A new kind of hologram is incorporated to prevent counterfeiting.
• Bank of Japan (BOJ):
  • Responsible for delivering the new banknotes to financial institutions.

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9. Which marathon is the latest addition to TCS’s portfolio of global running events?
A) Tokyo Marathon
B) Boston Marathon
C) Sydney Marathon
D) Berlin Marathon
E) Chicago Marathon
Answer: C) Sydney Marathon

Event and Location:

• Event: Title partnership of the Sydney Marathon by TCS
• Location: Sydney, Australia

Mandates and Objectives:

• Support Sydney Marathon’s candidature for the Abbott World Marathon Majors.
• Enhance the event’s global profile and sustainability standards.
• Leverage TCS’s experience in managing major global running events.

Important Terms Explained:

• TCS (Tata Consultancy Services):
  • An IT services and consulting company.
  • Now sponsors 14 global running events with over 600,000 runners participating.
• Abbott World Marathon Majors:
  • A series of six iconic marathons: Tokyo, Boston, London, Berlin, Chicago, and New York.
• Sydney Marathon:
  • The largest marathon in Australia.
  • Aiming to join the Abbott World Marathon Majors by meeting key criteria for two consecutive years.

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Over All Review

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