Daily Current Affairs June 03

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 03. 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 03 | Daily Current Affairs 2024

Important Days – Daily Current Affairs June 03

1. When is World Bicycle Day celebrated annually?
A) June 1
B) June 2
C) June 3
D) June 4
E) June 5
Answer: C) June 3

Event and Location:

• Event: World Bicycle Day 2024
• Location: Celebrated globally

Mandates and Objectives:

• Promotion of Cycling: World Bicycle Day is celebrated to spread awareness about the benefits of cycling, encouraging people to use bicycles as a mode of transportation for a sustainable and healthy lifestyle.
• Historical Significance: Declared by the United Nations General Assembly in April 2018, thanks to the advocacy of Professor Leszek Sibilski and his sociology class.
• Health and Environmental Benefits: Cycling promotes cardiovascular health, muscle strength, and overall fitness. It is also an eco-friendly mode of transportation that reduces air pollution and traffic congestion.
• Economic and Cultural Significance: Bicycles are affordable, have low maintenance costs, and symbolize freedom, adventure, and a connection to nature.

Important Terms Explained:

• Sustainable Transport System: A system that promotes economic growth, reduces inequalities, and fights climate change, aligning with sustainable development goals.
• Professor Leszek Sibilski: A Polish-American social scientist and cycling advocate who played a key role in the establishment of World Bicycle Day.

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2. When is Telangana State Formation Day celebrated?
A) June 1
B) June 2
C) June 3
D) June 4
E) June 5
Answer: B) June 2

Event and Location:

• Event: Telangana State Formation Day
• Location: Telangana, India

Mandates and Objectives:

• Formation Date: Telangana was officially formed on June 2, 2014, becoming the 28th state of India.
• Historical Background: The region of Telangana has a rich cultural heritage and distinct identity but was part of Andhra Pradesh for many years. The demand for a separate state arose due to the feeling that the region’s development needs and cultural specificities were not being adequately addressed.
• Telangana Movement: The movement for statehood gained momentum over the years through peaceful protests and demonstrations, culminating in the passing of the Andhra Pradesh Reorganisation Act by the Indian Parliament in 2014.

Significance:

• Commemoration of Sacrifices: The day commemorates the sacrifices of those who fought for a separate Telangana state.
• Celebration of Culture: It celebrates the unique culture and heritage of Telangana.
• New Beginning: The day marks the beginning of a new era for Telangana, filled with hope and opportunities.
• Celebrations: Telangana Formation Day is marked by festivities, including the hoisting of the national flag, cultural events, parades, and speeches across the state.

Important Terms Explained:

• Andhra Pradesh Reorganisation Act: The act passed by the Indian Parliament in 2014 that led to the creation of the state of Telangana.

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3. When is International Sex Workers’ Day observed annually?
A) June 1
B) June 2
C) June 3
D) June 4
E) June 5
Answer: B) June 2

Event and Location:

• Event: International Sex Workers’ Day
• Location: Observed globally

Mandates and Objectives:

• Raising Awareness: International Sex Workers’ Day is observed on June 2 to raise awareness about the challenges and exploitation faced by sex workers worldwide.
• Advocating for Rights: The day aims to create discussion about exploitative working conditions and the lack of legal safeguards for sex workers. It also provides a platform for lobbying, policy reforms, and promoting the rights of sex workers.
• Historical Background: The inception of International Sex Workers’ Day dates back to June 2, 1975, when sex workers in Lyon, France occupied the Saint-Nizier Church to protest police crackdown and violence against them. The eight-day strike was sparked by the death of two sex workers and the government’s failure to respond.

Significance:

• Highlighting Vulnerability: The day highlights that sex workers are among the most vulnerable social groups, often facing exploitation, human rights violations, and social stigma.
• Promoting Solidarity: The celebration fosters solidarity among sex workers and encourages societal change to address the pervasive stigma and prejudice they experience.

Important Terms Explained:

• Sex Workers’ Rights: Refers to the human rights and protections that sex workers are entitled to, including safe working conditions, legal protection, and access to healthcare and financial services.

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Sports – Daily Current Affairs June 03

4. Who scored the second goal for Real Madrid in their 15th Champions League final victory?
A) Fede Valverde
B) Dani Carvajal
C) Vinicius Jr
D) Toni Kroos
E) Eduardo Camavinga
Answer: C) Vinicius Jr

Event and Location:

• Event: Real Madrid wins their 15th Champions League final
• Location: Champions League final match, location not specified in the text

Mandates and Objectives:

• Victory Achievement: Real Madrid won their 15th Champions League title, marking a historic and hard-fought victory.
• Key Moments: Vinicius Jr scored the second goal of the final, sealing the win and confirming their triumph.
• Overcoming Challenges: The season was marked by significant challenges, including injuries to key players such as Vinicius Jr, Aurelien Tchouameni, Jude Bellingham, and Eduardo Camavinga.
• Significance: Despite setbacks, Real Madrid demonstrated resilience and determination, culminating in an unbeaten Champions League season and a total of 95 points.
• Players’ Contributions: Fede Valverde, Dani Carvajal, Ferland Mendy, and Toni Kroos were pivotal in the victory, with Carvajal scoring the winning goal and matching Paco Gento’s record of six titles.

Important Terms Explained:

• ACL Injuries: Anterior Cruciate Ligament injuries, serious knee injuries that can sideline athletes for extended periods.
• Madridismo: The term describing the spirit, culture, and pride associated with Real Madrid.

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Ranking – Daily Current Affairs June 03

5. What is Gautam Adani’s net worth as of the latest report, reclaiming him the title of Asia’s richest person?
A) $100 billion
B) $105 billion
C) $109 billion
D) $111 billion
E) $115 billion
Answer: D) $111 billion

Event and Location:

• Event: Gautam Adani reclaims the title of Asia’s richest person
• Location: India

Mandates and Objectives:

• Net Worth: Gautam Adani, founder of Adani Group, has a net worth of $111 billion as per the latest report, surpassing Mukesh Ambani who has a net worth of $109 billion.
• Adani Group’s Performance: Shares of Adani Group companies surged following the announcement of expansion plans including $90 billion in capital expenditures over the next decade.
• Growth in Net Worth: Adani’s net worth has increased by 31.8% this year, though it remains lower than the $148 billion he achieved in September 2022.
• Financial Performance: The Adani Group reported a 55% surge in profit to $3.7 billion in the financial year ending March.
• Optimism for Future: Adani expressed optimism about the future, stating that the group’s best days are yet to come and highlighting extraordinary possibilities ahead.

Important Terms Explained:

• Bloomberg Billionaires Index: A daily ranking of the world’s richest people, which provides information on their net worth and wealth.
• Capital Expenditures: Funds used by a company to acquire, upgrade, and maintain physical assets such as property, industrial buildings, or equipment.

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Banking and Finance – Daily Current Affairs June 03

6. What is the primary purpose of the Saa ₹thi 2.0 app launched by SEBI?
A) To provide real-time stock market updates
B) To offer financial planning tools and educational modules for investors
C) To facilitate online banking transactions
D) To offer cryptocurrency trading
E) To track international market trends
Answer: B) To offer financial planning tools and educational modules for investors

Event and Location:

• Event: Launch of the Saa ₹thi 2.0 app by SEBI
• Location: New Delhi, India

Mandates and Objectives:

• Purpose: The Saa ₹thi 2.0 app aims to simplify complex financial concepts for investors by providing comprehensive tools and educational modules. It includes financial calculators, KYC procedures, mutual funds, ETFs, stock exchange transactions, investor grievance redressal, and an Online Dispute Resolution platform.
• User-Friendly Interface: The app has been updated to introduce a user-friendly interface that simplifies these financial concepts.
• Investor Assistance: The app features a range of videos designed to assist investors in their personal finance planning, providing unbiased, objective, and trusted investment information.
• Target Audience: The app is particularly useful for young investors who are at the beginning of their financial journey.
• Public Feedback: SEBI actively seeks public suggestions to refine and enhance the Saa ₹thi app, ensuring it keeps pace with evolving market conditions.

Important Terms Explained:

• SEBI: Securities and Exchange Board of India, the regulator for the securities market in India.
• KYC (Know Your Customer): A process by which financial institutions verify the identity, suitability, and risks involved with maintaining a business relationship.
• ETF (Exchange-Traded Fund): A type of investment fund and exchange-traded product, traded on stock exchanges much like stocks.

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7. What is the primary objective of the strategic bancassurance partnership between Axis Bank and Bajaj Allianz General Insurance?
A) To launch new insurance products
B) To boost insurance penetration and financial inclusion
C) To increase bank branch count
D) To introduce online banking services
E) To develop new digital payment solutions
Answer: B) To boost insurance penetration and financial inclusion

Event and Location:

• Event: Strategic bancassurance partnership between Axis Bank and Bajaj Allianz General Insurance
• Location: India

Mandates and Objectives:

• Boosting Insurance Penetration: The partnership aims to distribute a comprehensive suite of Bajaj Allianz General Insurance products through Axis Bank’s extensive network of over 5,250 branches, thereby enhancing insurance penetration in the country.
• Financial Inclusion: The collaboration seeks to foster financial inclusion by making insurance solutions accessible to diverse demographics, particularly in underserved communities.
• Insurance Solutions: The products include personal insurance (motor, health, home, travel) and commercial insurance (engineering, marine).
• Bancassurance Model: This model allows banks to earn commissions from the insurance company while the insurer benefits from the bank’s distribution network.
• Key Figures’ Statements: Tapan Singhel, MD & CEO of Bajaj Allianz General Insurance, and Munish Sharda, Executive Director of Axis Bank, highlighted the goal of providing exceptional service, enhancing reach, and driving awareness and adoption of insurance solutions.

Important Terms Explained:

• Bancassurance: An insurance distribution model where insurance companies partner with banks to sell their policies.
• Financial Inclusion: The process of ensuring access to appropriate financial products and services needed by individuals and businesses to manage their financial needs effectively.

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Business and Economy – Daily Current Affairs June 03

8. What was the record number of UPI transactions processed in May 2024?
A) 12.5 billion
B) 13.3 billion
C) 14.04 billion
D) 15.2 billion
E) 16.7 billion
Answer: C) 14.04 billion

Event and Location:

• Event: Record number of UPI transactions in May 2024
• Location: India

Mandates and Objectives:

• Record Transactions: The Unified Payments Interface (UPI) network processed 14.04 billion transactions in May 2024, setting a new record. This is an increase from 13.3 billion transactions in April 2024.
• Transaction Value: The total value of UPI transactions in May 2024 was Rs 20.45 lakh crore, compared to Rs 19.64 lakh crore in April 2024.
• Growth Rate: The average daily transaction amount in May was Rs 65,966 crore, with an average daily transaction count of 453 million, reflecting a 49% year-on-year growth.
• Stakeholder Meeting: On May 8, RBI Governor Shaktikanta Das met with key stakeholders in the UPI ecosystem to discuss strategies for expanding UPI’s reach, particularly into the rural economy.
• Exploring Additional Use Cases: Both the National Payments Corporation of India (NPCI) and the Reserve Bank of India (RBI) are exploring additional use cases for UPI and strategies to scale up UPI infrastructure and integrate potential users into the digital payments system.

Important Terms Explained:

• UPI (Unified Payments Interface): A real-time payment system developed by the National Payments Corporation of India (NPCI) facilitating inter-bank transactions.
• NPCI (National Payments Corporation of India): An organization responsible for operating retail payments and settlement systems in India.

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9. What was the growth rate of the Indian economy in the financial year 2023-24 according to NSO?
A) 7.6%
B) 7.8%
C) 8.1%
D) 8.2%
E) 9.1%
Answer: D) 8.2%

Event and Location:

• Event: Growth of the Indian Economy in FY 2023-24
• Location: India

Mandates and Objectives:

• NSO Estimate: The National Statistical Organisation (NSO) estimated that the Indian Gross Domestic Product (GDP) grew by 8.2% in the financial year 2023-24.
• Quarterly Growth Rates: The GDP growth rates for the four quarters of FY 2023-24 were 8.2% (Q1), 8.1% (Q2), 8.6% (Q3), and 7.8% (Q4).
• Comparative Growth: The GDP growth rate in 2022-23 was 7%. The growth rate for the fourth quarter of 2023-24 was 7.8%, contributing significantly to the annual growth.
• Real vs. Nominal GDP: The Real GDP in 2023-24 was estimated at Rs 173.82 lakh crore, showing an 8.2% growth, while the Nominal GDP was estimated at Rs 295.36 lakh crore, registering a 9.6% growth.
• GVA Growth Rate: The real Gross Value Added (GVA) was estimated at Rs 158.74 lakh crore with a 7.2% growth rate. The nominal GVA was estimated at Rs 267.62 lakh crore with an 8.5% growth rate.
• Sectoral Growth: The Primary sector grew by 2.1%, the Secondary sector by 9.7%, and the Tertiary sector by 7.6%.

Important Terms Explained:

• GDP (Gross Domestic Product): The total value of goods and services produced in a country during a specific period.
• Real GDP: GDP adjusted for inflation, representing the true value of goods and services at constant prices.
• Nominal GDP: GDP measured at current market prices, not adjusted for inflation.
• GVA (Gross Value Added): The measure of the value of goods and services produced in an economy, calculated as GDP minus taxes plus subsidies on products.

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Defence – Daily Current Affairs June 03

10. Which Indian naval vessel is participating in the RIMPAC naval exercises in Hawaii?
A) INS Vikramaditya
B) INS Kolkata
C) INS Shivalik
D) INS Trikand
E) INS Talwar
Answer: C) INS Shivalik

Event and Location:

• Event: Participation of India in U.S. Red Flag air and RIMPAC naval exercises
• Location: Alaska and Hawaii, USA

Mandates and Objectives:

• Red Flag Air Exercise: The Indian Air Force (IAF) is participating in the Red Flag air exercise held in Alaska from May 30, deploying Rafale fighter jets. This two-week advanced aerial combat training exercise aims to integrate aircrew in a multinational environment, providing realistic training in a simulated combat environment.
• RIMPAC Naval Exercise: The Indian Navy is participating in the Rim of the Pacific (RIMPAC) naval exercises held in Hawaii from June 25 to August 2. The Indian Navy has deployed the indigenous stealth frigate INS Shivalik for this mega multinational naval war game.
• Deployment Details: The IAF Rafale fighters, supported by IL-78 air-to-air refuellers and C-17 transport aircraft, took a transatlantic flight with staging halts at Greece and Portugal to reach the Eielson Air Force Base in Alaska.
• Significance: These exercises provide an opportunity for the Indian armed forces to train in a multinational environment, enhancing interoperability and readiness.

Important Terms Explained:

• Red Flag Air Exercise: A two-week advanced aerial combat training exercise held by the U.S. Air Force in Alaska, aimed at integrating aircrew in a multinational environment.
• RIMPAC (Rim of the Pacific): The world’s largest international maritime warfare exercise, held biennially in Hawaii, involving navies from around the world to promote stability and security in the Pacific region.

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International Affairs – Daily Current Affairs June 03

11. Which summit did India invite the world to participate in from 15-24 October 2024?
A) WSIS+20 Forum High-Level Event
B) AI for Good Global Summit
C) WTSA 2024
D) UNGA’s twenty-year review of WSIS
E) Leaders TalkX
Answer: C) WTSA 2024

Event and Location:

• Event: Participation of India in ITU’s WSIS+20 Forum High-Level Event and ‘AI for Good’ Global Summit
• Location: Geneva, Switzerland

Mandates and Objectives:

• Global Standards for AI: India highlighted its leadership in drafting global standards for responsible and trustworthy AI. The TEC has released a standard for assessing and rating fairness in AI systems and is now framing another standard for assessing and rating robustness in AI systems.
• International Collaboration: India emphasized the importance of harmonizing global collaborations in the AI industry to create standardized regulations and foster industry development.
• Invitation to WTSA 2024: India invited the global community to participate in the WTSA 2024 in New Delhi from 15-24 October 2024 and launched the host country website for WTSA 2024.
• Sessions and Contributions: The Indian delegation participated in various sessions discussing AI in the telecom sector, sustainable futures, AI governance, and connectivity for sustainable development, addressing the need for accessible and affordable technologies for developing countries.

Important Terms Explained:

• WSIS+20 Forum: A high-level event organized by ITU, UNESCO, UNDP, and UNCTAD, co-hosted by ITU and the Swiss Confederation, to assess global digital cooperation opportunities.
• AI for Good Global Summit: A summit aimed at showcasing how AI can be harnessed for the public good, addressing challenges, and exploring future applications.
• TEC (Telecom Engineering Centre): The standards body of the Department of Telecommunications (DoT) in India, responsible for drafting standards for AI systems.

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National Affairs – Daily Current Affairs June 03

12. Who addressed the importance of non-academic books and urged faculty members to write good books for the Rashtriya e-Pustakalaya?
A) Shri Sanjay Kumar
B) Smt. Archana Sharma Awasthi
C) Shri K. Sanjay Murthy
D) Joint Secretary, DoSE&L
E) Secretary, Ministry of Education
Answer: C) Shri K. Sanjay Murthy

Event and Location:

• Event: Signing of MoU between Department of School Education and National Book Trust
• Location: New Delhi, India

Mandates and Objectives:

• Creation of Institutional Framework: The MoU aims to establish an institutional framework for the Digital Library Platform, Rashtriya e-Pustakalaya.
• Accessibility: Ensuring that books are available round-the-clock, regardless of the geographic location of readers.
• Content Enrichment: Formation of a Content Enrichment Committee to decide on books to be included in the platform.
• Inclusion of Non-Academic Books: Emphasis on non-academic books to help children choose their future disciplines.
• Language Diversity: Aim to have over 10,000 books in more than 100 languages in the next 2-3 years.

Important Terms Explained:

• Rashtriya e-Pustakalaya: A first-of-its-kind digital library offering non-academic books for children and adolescents in over 22 languages, aiming to instill a lifelong love of reading.
• Content Enrichment Committee: A body that will decide on the books to be included in the Rashtriya e-Pustakalaya platform.
• Vasudhaiva Kutumbakam: An ancient Indian philosophy meaning “The world is one family.”

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Over All Review

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