Daily Current Affairs June 01 & 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 June 01 & 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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June 01 & 02 | Daily Current Affairs 2024

Important Days – Daily Current Affairs June 01 & 02

1. When is Goa Statehood Day celebrated, and what is the significance of this day?
A) January 26
B) August 15
C) May 30
D) December 19
E) June 1
Answer: C) May 30

Event and Location:

• Event: Goa Statehood Day
• Location: Goa, India

Mandates and Objectives:

• Integration into Indian Union: Goa Statehood Day commemorates the integration of Goa as an official state into the Indian Union.
• Cultural Celebration: The day is celebrated with cultural events, music, dance, and showcasing of Goan cuisine to honor Goa’s rich legacy and the sacrifices made during the fight for freedom from Portuguese rule.

Important Terms Explained:

• Portuguese Colonial Rule: Goa was under Portuguese rule for over 450 years until 1961.
• Union Territory Status: Goa, along with Daman and Diu, was given union territory status in 1961.
• Statehood: In 1987, Goa was granted statehood, becoming the 25th state of India.

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2. When is World Milk Day celebrated, and what is its significance?
A) March 1
B) June 1
C) August 1
D) October 1
E) December 1
Answer: B) June 1

Event and Location:

• Event: World Milk Day
• Location: Worldwide

Mandates and Objectives:

• Recognition of Milk’s Importance: World Milk Day is observed to recognize the value of milk in our diets and economies.
• Celebration of Dairy Industry: The day celebrates the contributions of the dairy industry and aims to educate people about milk production and consumption globally.
• Global Food Significance: Initiated by the United Nations Food and Agriculture Organization (FAO) in 2001, the day highlights the importance of milk as a global food.

Important Terms Explained:

• United Nations Food and Agriculture Organization (FAO): An international organization that started World Milk Day to emphasize the significance of milk.
• Nutrition: Milk is rich in essential nutrients like calcium, protein, and vitamins, vital for healthy bones and teeth.
• Economic Importance: The dairy industry is crucial for many economies, providing jobs and livelihoods for millions.
• Cultural Value: Milk and dairy products play a significant role in traditional diets and cuisines in various cultures.
• Sustainability: Emphasis on sustainable dairy farming practices to reduce environmental impact and ensure animal welfare.

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Sports – Daily Current Affairs June 01 & 02

3. Which new governing body has the Boxing Federation of India (BFI) agreed to join, and what is its significance?
A) International Boxing Association (IBA)
B) World Boxing (WB)
C) National Boxing Association (NBA)
D) International Sports Federation (ISF)
E) Global Boxing Union (GBU)
Answer: B) World Boxing (WB)

Event and Location:

• Event: Boxing Federation of India (BFI) joins World Boxing
• Location: Chennai, India (Announcement); Bangkok, Thailand (World Olympic qualifiers)

Mandates and Objectives:

• Joining World Boxing: The BFI has agreed to join World Boxing (WB), a newly-formed governing body, following the International Olympic Committee’s (IOC) refusal to recognize the International Boxing Association (IBA).
• Tournaments Participation: Despite joining WB, BFI intends to continue participating in events organized by IBA for the benefit of the boxers and the sport.
• IOC’s Stance: The IOC has stated that National Federations affiliated with IBA will not be allowed to participate in the Olympic Games, specifically LA2028.

Important Terms Explained:

• World Boxing (WB): The new governing body formed to replace IBA after IOC’s disapproval.
• International Olympic Committee (IOC): The supreme authority of the Olympic Movement, which organizes the Olympic Games.
• International Boxing Association (IBA): The former recognized governing body for the sport of boxing, now not recognized by the IOC.
• National Olympic Committee (NOC): The body responsible for a country’s participation in the Olympic Games.

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4. Why was Brydon Carse handed a three-month ban by the ECB?
A) For doping violations
B) For match-fixing
C) For betting on cricket matches
D) For disciplinary issues
E) For performance-enhancing drugs
Answer: C) For betting on cricket matches

Event and Location:

• Event: Brydon Carse banned for betting breaches
• Location: England

Mandates and Objectives:

• ECB Regulations: Brydon Carse breached the England and Wales Cricket Board’s (ECB) gambling regulations by placing bets on cricket matches.
• Ban Details: Carse was banned for 16 months, with 13 months suspended, effectively sidelining him until August 28, 2024.
• Mitigating Factors: The Cricket Regulator considered Carse’s cooperation and remorse, noting his growth and understanding of responsibilities since the breach.

Important Terms Explained:

• ECB (England and Wales Cricket Board): The governing body for cricket in England and Wales, responsible for enforcing cricket regulations.
• Cricket Regulator: The body within ECB that enforces rules and regulations, including anti-corruption measures.
• Betting Integrity Rules: Professional participants in cricket (players, coaches, and support staff) are prohibited from betting on any cricket matches worldwide to maintain the sport’s integrity.

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5. When did Dinesh Karthik announce his retirement from all formats of cricket?
A) May 22, 2024
B) June 1, 2024
C) June 10, 2024
D) May 1, 2024
E) May 31, 2024
Answer: B) June 1, 2024

Event and Location:

• Event: Dinesh Karthik announces retirement from all formats of cricket
• Location: India

Mandates and Objectives:

• Retirement Announcement: Dinesh Karthik announced his retirement from all formats of cricket on June 1, 2024, days after retiring from the Indian Premier League (IPL).
• Final IPL Match: He last played for Royal Challengers Bengaluru in the IPL 2024 Eliminator on May 22, 2024.
• Career Reflection: Karthik expressed gratitude to fans, coaches, teammates, and his family for their support throughout his career.

Important Terms Explained:

• Test Matches: The longest format of cricket, with matches lasting up to five days.
• One Day Internationals (ODIs): A format of cricket with each team facing a set number of overs, usually 50.
• Twenty20 Internationals (T20Is): A format of cricket with each team facing a set number of overs, usually 20.
• Indian Premier League (IPL): A professional Twenty20 cricket league in India.

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Banking and Finance – Daily Current Affairs June 01 & 02

6. What was the gross GST revenue collection for India in May 2024?
A) ₹1.57 lakh crore
B) ₹1.73 lakh crore
C) ₹2.10 lakh crore
D) ₹1.44 lakh crore
E) ₹1.88 lakh crore
Answer: B) ₹1.73 lakh crore

Event and Location:

• Event: GST collection in May 2024
• Location: India

Mandates and Objectives:

• Gross GST Collection: The gross Goods and Services Tax (GST) revenue for May 2024 stood at ₹1.73 lakh crore.
• Year-on-Year Growth: This represents a 10% year-on-year growth compared to ₹1.57 lakh crore in May 2023.
• Net Revenue: 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.

Important Terms Explained:

• Goods and Services Tax (GST): An indirect tax used in India on the supply of goods and services.
• CGST (Central Goods and Services Tax): The tax collected by the central government on intra-state sales.
• SGST (State Goods and Services Tax): The tax collected by the state government on intra-state sales.
• IGST (Integrated Goods and Services Tax): The tax collected by the central government on inter-state sales.
• Cess: An additional tax levied on certain goods and services.

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7. What is the proposed percentage of Canara Bank’s stake in Canara HSBC Life Insurance Company that will be offloaded via an IPO?
A) 10.50%
B) 12.50%
C) 14.50%
D) 16.50%
E) 18.50%
Answer: C) 14.50%

Event and Location:

• Event: Canara Bank to offload 14.50% share in Canara HSBC Life Insurance via IPO
• Location: India

Mandates and Objectives:

• Stake Dilution: Canara Bank has approved a proposal to dilute its ownership by 14.50% in its subsidiary, Canara HSBC Life Insurance Company, through an initial public offering (IPO).
• Regulatory Approvals: The proposal is subject to approval from the Reserve Bank of India (RBI) and the Department of Financial Services, Government of India.
• IPO Process: The size, timing, and modalities of the IPO will be determined and disclosed in due course.

Important Terms Explained:

• Initial Public Offering (IPO): The process by which a private company offers shares to the public in a new stock issuance.
• Public Sector Lender: A bank owned by the government, in this case, Canara Bank.
• Subsidiary: A company controlled by another company, in this case, Canara HSBC Life Insurance Company is a subsidiary of Canara Bank.

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8. What was the penalty amount imposed by the Reserve Bank of India (RBI) on SBM Bank (India) for non-compliance with certain regulatory norms?
A) Rs 50.50 lakh
B) Rs 88.70 lakh
C) Rs 75.30 lakh
D) Rs 100.00 lakh
E) Rs 65.40 lakh
Answer: B) Rs 88.70 lakh

Event and Location:

• Event: RBI imposes monetary penalty on SBM Bank (India)
• Location: India

Mandates and Objectives:

• Penalty Imposition: The Reserve Bank of India (RBI) imposed a penalty of Rs 88.70 lakh on SBM Bank (India) for non-compliance with certain regulatory norms.
• Licensing Conditions and Directions: The penalty was imposed due to non-compliance with licensing conditions and specific directions to stop undertaking Liberalised Remittance Scheme (LRS) transactions.
• Regulatory Compliance: The penalty reflects deficiencies in regulatory compliance by SBM Bank (India).

Important Terms Explained:

• Reserve Bank of India (RBI): The central banking institution of India, which controls the monetary policy of the Indian rupee.
• Liberalised Remittance Scheme (LRS): A scheme introduced by the RBI that allows resident individuals to remit a certain amount of money during a financial year for permitted current or capital account transactions.
• Monetary Penalty: A financial punishment imposed for non-compliance with regulations or guidelines.

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9. What is the annual return rate offered by Bank of India for the 666 Days Fixed Deposit for senior citizens?
A) 6.80%
B) 7.00%
C) 7.30%
D) 7.80%
E) 7.95%
Answer: D) 7.80%

Event and Location:

• Event: Launch of 666 Days Fixed Deposit by Bank of India
• Location: India

Mandates and Objectives:

• FD Details: The Bank of India (BOI) launched a 666 Days Fixed Deposit (FD) offering up to 7.80% annual returns for senior citizens on deposits below ₹2 crore.
• Effective Date: The revised interest rates are effective from June 1, 2024.
• Eligibility: Available to all Bank of India customers and the general public, including domestic, NRO, and NRE rupee term deposits.

Important Terms Explained:

• Fixed Deposit (FD): A financial instrument provided by banks that offers a higher interest rate than regular savings accounts, until the given maturity date.
• Senior Citizens: Individuals aged 60 years and above.
• Super Senior Citizens: Individuals aged 80 years and above, as per ClearTax.
• Premature Withdrawal: The option to withdraw funds from the FD before the maturity date, subject to terms and conditions.

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Business and Economy – Daily Current Affairs June 01 & 02

10. Which two entities collaborated to launch the NFC Soundbox, an all-in-one payment solution for merchants in India?
A) ICICI Bank and Visa
B) HDFC Bank and RuPay
C) Axis Bank and Mastercard
D) SBI and American Express
E) Kotak Mahindra Bank and PayPal
Answer: C) Axis Bank and Mastercard

Event and Location:

• Event: Launch of NFC Soundbox
• Location: India

Mandates and Objectives:

• Collaboration: Axis Bank and Mastercard have collaborated to launch the NFC Soundbox, a pioneering payment solution for the merchant community.
• Functionality: The soundbox acts as an all-in-one solution allowing users to accept Bharat QR, UPI, Tap & Pay, and Tap + Pin payments.
• Innovation: This is the first soundbox in India to support Tap + Pin payments, enabling transactions greater than ₹5000 via card instruments.

Important Terms Explained:

• NFC (Near Field Communication): A technology that enables wireless data transfer between two devices in close proximity.
• Tap & Pay: A contactless payment method where a card or device is tapped on a point-of-sale terminal.
• Bharat QR: A common QR code developed by NPCI, Mastercard, and Visa for ease of payments.
• PCI Standards: Security standards developed by the Payment Card Industry to protect card information during and after a financial transaction.

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Appointments – Daily Current Affairs June 01 & 02

11. Who is India’s first woman Permanent Representative to the United Nations who recently retired?
A) Nirupama Rao
B) Chokila Iyer
C) Ruchira Kamboj
D) Sujatha Singh
E) Meira Kumar
Answer: C) Ruchira Kamboj

Event and Location:

• Event: Retirement of India’s first woman Permanent Representative to the United Nations
• Location: United Nations, New York

Mandates and Objectives:

• Service Duration: Ruchira Kamboj retired after 35 years of service in the Indian Foreign Service (IFS).
• Positions Held: She served as the Indian envoy in Bhutan, South Africa, and UNESCO.
• UN Role: Kamboj navigated discussions at the UN during critical global conflicts, including the Russia-Ukraine and Israel-Hamas wars.

Important Terms Explained:

• Permanent Representative to the United Nations: An ambassador responsible for representing their country at the United Nations.
• Indian Foreign Service (IFS): The diplomatic service of India, responsible for representing India in international affairs.

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Science and Technology – Daily Current Affairs June 01 & 02

12. Which organization has ISRO partnered with to manufacture a 3D-printed rocket engine for the PSLV?
A) Tata Advanced Systems
B) Hindustan Aeronautics Limited (HAL)
C) Wipro 3D
D) Larsen & Toubro
E) Bharat Electronics Limited (BEL)
Answer: C) Wipro 3D

Event and Location:

• Event: ISRO and Wipro 3D partner for space exploration with 3D-printed rocket engine
• Location: India

Mandates and Objectives:

• 3D-Printed Rocket Engine: ISRO and Wipro 3D successfully manufactured a 3D-printed rocket engine, the PS4, to power the fourth stage of the Polar Satellite Launch Vehicle (PSLV).
• Additive Manufacturing: This achievement marks a paradigm shift in space manufacturing, introducing the era of additive manufacturing for space exploration.
• PSLV’s Fourth Stage (PS4): The PS4 stage is critical for precise orbital placement in missions related to remote sensing, oceanography, cartography, and disaster warning.

Important Terms Explained:

• Additive Manufacturing (AM): Also known as 3D printing, it is a process of creating a three-dimensional object by adding material layer by layer.
• Design for Additive Manufacturing (DfAM): A design process optimized for additive manufacturing techniques.
• Laser Powder Bed Fusion (LPBF): An additive manufacturing technique where a laser selectively fuses powdered material to create a solid structure.

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National Affairs – Daily Current Affairs June 01 & 02

13. Which state in India has introduced Artificial Intelligence (AI) in school curriculums for Class 7 ICT textbooks?
A) Maharashtra
B) Tamil Nadu
C) Karnataka
D) Kerala
E) Andhra Pradesh
Answer: D) Kerala

Event and Location:

• Event: Kerala introduces Artificial Intelligence in school curriculums
• Location: Kerala, India

Mandates and Objectives:

• Integration of AI: Kerala has integrated AI learning into Class 7 Information & Communication Technology (ICT) textbooks. Over 4 lakh students will be introduced to AI in the upcoming academic year.
• Curriculum Framework: The new curriculum emphasizes critical thinking, analytical skills, and problem-solving abilities, essential for holistic development. AI learning is part of this comprehensive framework.

Important Terms Explained:

• Artificial Intelligence (AI): The simulation of human intelligence processes by machines, especially computer systems.
• ICT (Information & Communication Technology): An extensional term for information technology (IT) that stresses the role of unified communications and the integration of telecommunications and computers.
• PictoBlox and Scratch Software: Visual programming tools used to teach programming, AI, and robotics.

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