Daily Current Affairs June 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 June 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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June 06 | Daily Current Affairs 2024

Important Days – Daily Current Affairs June 06

1. When is UN Russian Language Day observed in 2024?
A) February 10
B) June 6
C) May 18
D) August 12
E) December 1
Answer: B) June 6

Event and Location:

• UN Russian Language Day is observed on June 6, 2024.

Mandates and Objectives:

• UN Russian Language Day was established by UNESCO in 2010 to promote the study and appreciation of the Russian language.
• The day coincides with the birthday of Aleksandr Pushkin, a prominent Russian writer considered the father of contemporary Russian literature.
• The event encourages participation in cultural activities to learn more about the Russian language and its significance.

Important Terms Explained:

• UNESCO (United Nations Educational, Scientific and Cultural Organization): A specialized agency of the United Nations aimed at promoting world peace and security through international cooperation in education, the sciences, and culture.
• Aleksandr Pushkin: A renowned Russian writer and poet born in June 1799, known for his significant contributions to Russian literature.
• Russian Language: A Slavic language and the eighth most spoken language in the world.

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Banking and Finance – Daily Current Affairs June 06

2. What new license did Arka Fincap Limited recently receive from IRDAI?
A) Investment License
B) Banking License
C) Corporate Agency License
D) Loan Disbursement License
E) Stock Trading License
Answer: C) Corporate Agency License

Event and Location:

• Arka Fincap Limited has received a Corporate Agency License from India’s Insurance Regulatory and Development Authority (IRDAI).

Mandates and Objectives:

• Arka Fincap Limited, a subsidiary of Kirloskar Oil Engines Limited (KOEL), is an NBFC that has expanded its product portfolio to include insurance distribution.
• The license allows Arka to offer insurance solutions, enhancing its existing financial solutions to meet diverse consumer needs.
• Arka Fincap aims to provide comprehensive coverage to protect customers from uncertainties and help them achieve their business objectives.

Important Terms Explained:

• IRDAI (Insurance Regulatory and Development Authority of India): The regulatory body responsible for overseeing and promoting the insurance industry in India.
• Corporate Agency License: A license that allows a company to distribute insurance products on behalf of insurers.
• NBFC (Non-Banking Financial Company): A financial institution that offers banking services without meeting the legal definition of a bank.

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3. Which banks have signed MoUs with the Ministry of Defence to onboard them as SPARSH service centres?
A) Bank of India, ICICI Bank, HDFC Bank, Central Bank of India
B) Canara Bank, Central Bank of India, Utkarsh Small Finance Bank, Yes Bank
C) Bank of India, Canara Bank, Central Bank of India, Utkarsh Small Finance Bank
D) State Bank of India, Bank of India, Central Bank of India, Axis Bank
E) Bank of Baroda, Canara Bank, Central Bank of India, Kotak Mahindra Bank
Answer: C) Bank of India, Canara Bank, Central Bank of India, Utkarsh Small Finance Bank

Event and Location:

• The Ministry of Defence (MoD) has signed Memorandums of Understanding (MoUs) with four banks to onboard them as SPARSH service centres.

Mandates and Objectives:

• The Defence Accounts Department (DAD) of the MoD has partnered with Bank of India, Canara Bank, Central Bank of India, and Utkarsh Small Finance Bank.
• These banks will onboard 1,128 branches as SPARSH service centres across India.
  SPARSH (System for Pension Administration (RAKSHA)) is a web-based system for direct pension processing for defence pensioners.
• These centres will assist pensioners with profile updates, grievance registration, digital identification, and other services.
• SPARSH services are now accessible at over 26,000 branches of 15 banks, enhancing pension management efficiency and transparency.
• The initiative provides last-mile connectivity to pensioners, especially in remote areas.
• The services will be provided free of cost, with nominal service charges borne by the DAD.

Important Terms Explained:

• SPARSH (System for Pension Administration (RAKSHA)): A web-based system for processing pension claims and crediting the pension directly into the bank accounts of defence pensioners.
• Defence Accounts Department (DAD): The department responsible for managing the financial activities of the Ministry of Defence.
• MoU (Memorandum of Understanding): An agreement between two or more parties outlining the terms and details of an understanding or partnership.

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4. Which organization has Muthoot Microfin partnered with for co-lending to boost rural women entrepreneurs?
A) Reserve Bank of India
B) Canara Bank
C) Punjab National Bank
D) State Bank of India
E) ICICI Bank
Answer: D) State Bank of India

Event and Location:

• Muthoot Microfin Ltd has entered into a co-lending partnership with the State Bank of India (SBI).

Mandates and Objectives:

• The partnership aims to provide loans to members of joint liability groups (JLGs) engaged in agricultural and allied activities, as well as other income-generating enterprises.
• The loan amounts will range from a minimum of ₹10,000 to a maximum of ₹3 lakh.
• This initiative is focused on boosting rural women entrepreneurs by providing them access to credit.
• Thomas Muthoot, Managing Director of Muthoot Microfin Ltd, highlighted the goal of addressing the diverse financial needs of rural women through this collaboration.
• Sadaf Sayeed, CEO of Muthoot Microfin Ltd, emphasized the ability to offer a wide range of products and services to meet the growing credit demand of women entrepreneurs cost-effectively.

Important Terms Explained:

• Co-lending: A partnership between two financial institutions to jointly provide loans to borrowers, combining resources to improve credit access and distribution.
• Joint Liability Groups (JLGs): Groups of individuals, typically from rural areas, who come together to avail credit collectively under the mutual guarantee of repaying loans.
• Muthoot Pappachan Group (Muthoot Blue): The parent organization of Muthoot Microfin, known for its diverse financial services.

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Appointments – Daily Current Affairs June 06

5. Who has been appointed as the new Chairperson of the Deendayal Port Authority?
A) S K Mehta
B) Sushil Kumar Singh
C) Rajiv Kumar
D) Piyush Goyal
E) Manoj Sinha
Answer: B) Sushil Kumar Singh

Event and Location:

• Event: Appointment of the new Chairperson of Deendayal Port Authority
• Location: India

Mandates and Objectives:

• Sushil Kumar Singh has been named as the Chairperson of the Deendayal Port Authority.
• His appointment is effective until January 31, 2027, or until further orders from the Appointments Committee of the Cabinet (ACC).
• He succeeds S K Mehta, who completed a five-year term and stepped down in April.

Important Terms Explained:

• Deendayal Port Authority: Formerly known as Kandla Port, it is India’s second biggest state-owned commercial port by volumes handled.
• Indian Railway Service of Mechanical Engineering (IRSME): A group ‘A’ central engineering service of the Indian Railways.
• Appointments Committee of the Cabinet (ACC): A committee responsible for appointments to several top posts under the Government of India.
• Public-Private-Partnership (PPP): A cooperative arrangement between the public and private sectors, typically of a long-term nature.

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6. Who has been named the new crown prince of Kuwait?
A) Sheikh Meshal Al Ahmad Al Jaber
B) Sheikh Sabah Khalid Al Sabah
C) Sheikh Jaber Al Mubarak Al Hamad
D) Sheikh Nasser Al Mohammad Al Sabah
E) Sheikh Nawaf Al Ahmad Al Jaber
Answer: B) Sheikh Sabah Khalid Al Sabah

Event and Location:

• Kuwait’s ruling emir named Sheikh Sabah Khalid Al Sabah as the new crown prince.

Mandates and Objectives:

• Sheikh Sabah Khalid Al Sabah, previously serving as prime minister and foreign minister, is the new crown prince.
• The announcement was made by the state-run KUNA news agency.
• Sheikh Meshal Al Ahmad Al Jaber, the ruling emir, did not provide further details or comments.
• Sheikh Meshal recently dissolved parliament for up to four years due to political dysfunction, which includes disputes over the welfare system.
• The impasse has prevented Kuwait from taking on debt, affecting its ability to pay public sector salaries despite its vast oil wealth.

Important Terms Explained:

• KUNA (Kuwait News Agency): The state-run news agency of Kuwait.
• Crown Prince: The next in line to the throne in a monarchy.
• Sheikhdom: A region or country ruled by a sheikh.

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7. Who has been appointed as the new President and CEO of Asirvad Micro Finance Limited?
A) V.P. Nandakumar
B) Satish Nair
C) Vastu Housing Finance Corporation Ltd.
D) Fitch Ratings
E) Manappuram Finance Limited
Answer: B) Satish Nair

Event and Location:

• Asirvad Micro Finance Limited, headquartered in Valapad, Kerala, appointed Satish Nair as its new President and CEO.

Mandates and Objectives:

• Asirvad Micro Finance Limited is the third-largest microfinance institution in India (in terms of AUM as of June 2023), providing microfinance loans to low-income women.
• The new CEO, Satish Nair, has extensive experience in the financial services sector and is expected to elevate Asirvad’s reach and contribute to its vision of financial inclusion.
• Satish Nair’s previous role was head of treasury and corporate affairs at Vastu Housing Finance Corporation Ltd.
• V.P. Nandakumar, Chairman of Asirvad, emphasized Satish’s suitability to lead the company during a period of significant growth in the microfinance sector.
• Asirvad has a presence in 22 States and 4 Union Territories in India through its network of 1,684 branches, with assets under management (AUM) of over Rs10,000 crore as of June 2023.

Important Terms Explained:

• Microfinance Institution: A financial organization that provides small loans to low-income individuals or those without access to traditional banking services.
• AUM (Assets Under Management): The total market value of the investments that a financial institution manages on behalf of its clients.
• Financial Inclusion: The effort to make financial services accessible and affordable to all individuals, particularly the underprivileged and low-income segments of society.

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Science and Technology – Daily Current Affairs June 06

8. Who is the first person to spend a cumulative 1,000 days in space?
A) Gennady Padalka
B) Frank Rubio
C) Oleg Kononenko
D) Yuri Gagarin
E) Valentina Tereshkova
Answer: C) Oleg Kononenko

Event and Location:

• Russian cosmonaut Oleg Kononenko became the first person to spend a cumulative 1,000 days in space, as announced by Russia’s space agency Roscosmos.

Mandates and Objectives:

• Oleg Kononenko, currently on a mission aboard the International Space Station (ISS), reached the record while on his fifth mission.
• His current mission to the ISS began on September 15, 2023, and is planned to end on September 23, 2024, bringing his total number of days spent in orbit to 1,110.
• Kononenko has participated in five missions to the ISS, with his first mission being Expedition 17, which launched in April 2008.
• Kononenko previously set another record in February 2024, surpassing the 878 days in space set by Gennady Padalka.
• Unlike NASA astronauts, who typically spend no longer than six months aboard the ISS, Russian cosmonauts often spend prolonged periods in space, which affects human physiology and psychology.

Important Terms Explained:

• Roscosmos: Russia’s governmental body responsible for space science and exploration.
• International Space Station (ISS): A modular space station (habitable artificial satellite) in low Earth orbit.
• Expedition 17: The 17th expedition to the International Space Station, which launched in April 2008.

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International Affairs – Daily Current Affairs June 06

9. When did banknotes featuring a portrait of King Charles enter circulation in Britain?
A) January 1, 2023
B) December 5, 2022
C) June 5, 2024
D) June 5, 2023
E) July 5, 2023
Answer: D) June 5, 2023

Event and Location:

• Banknotes featuring a portrait of King Charles entered circulation in Britain.

Mandates and Objectives:

• The new banknotes, featuring King Charles, include denominations of five, 10, 20, and 50 pounds issued by the Bank of England.
• Existing notes featuring Queen Elizabeth will continue to circulate to minimize environmental and financial impact, as per the guidance from the Royal Household.
• The design of the new banknotes remains unchanged except for the portrait of King Charles.
• Cash usage has fallen sharply in recent years, with a significant shift towards electronic payments.
• Bank of England Governor Andrew Bailey reaffirmed the commitment to providing banknotes as long as there is public demand.
• Britain passed legislation requiring banks to ensure ready access to cash.

Important Terms Explained:

• Bank of England (BoE): The central bank of the United Kingdom, responsible for issuing currency and regulating monetary policy.
• Royal Household: The official residence and administrative headquarters of the British monarch.
• British Retail Consortium: The trade association representing all forms of retailers in the UK.

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10. Where was the first meeting of the Joint Task Force on Investment (JTFI) between India and Qatar held?
A) Doha
B) Mumbai
C) New Delhi
D) Bengaluru
E) Abu Dhabi
Answer: C) New Delhi

Event and Location:

• The first meeting of the Joint Task Force on Investment (JTFI) between India and Qatar was held in New Delhi, India.

Mandates and Objectives:

• The JTFI meeting aimed to strengthen investment cooperation between India and Qatar, aligning with the vision of their respective leaderships.
• The meeting was co-chaired by Shri Ajay Seth, Secretary of the Department of Economic Affairs, Ministry of Finance, Government of India, and H.E Mohamed bin Hassen Al-Malki, Undersecretary of the Ministry of Commerce and Industry, Government of Qatar.
• The JTFI reaffirmed the commitment to enhance bilateral relations, leveraging collective potential for growth and investment opportunities across various sectors such as infrastructure, energy, technology, and innovation.
• The meeting underscored the significance of the economic relationship between India and Qatar, emphasizing shared values, objectives, and a vision for inclusive development.

Important Terms Explained:

• Joint Task Force on Investment (JTFI): A collaborative initiative between two or more countries to promote and facilitate investment opportunities and economic cooperation.
• Department of Economic Affairs: A department under the Ministry of Finance, Government of India, responsible for economic policies, budget preparation, and management of public finances.

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11. Which forum did India participate in that focuses on clean economy investments?
A) Indo-Pacific Clean Energy Summit
B) International Green Investment Forum
C) Global Climate Change Conference
D) Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum
E) Asia-Pacific Renewable Energy Symposium
Answer: D) Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum

Event and Location:

• India participated in the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in New Delhi on June 6, 2024.

Mandates and Objectives:

• The forum aimed to mobilize investments into sustainable infrastructure, climate technology, and renewable energy projects.
• The Indian delegation was led by Shri Sunil Barthwal, Secretary, Department of Commerce.
• The forum provided a platform for more than 25 Indian companies to pitch their projects to over 100 global investors.
• More than 300 participants from financial institutions, multilateral development banks, venture capital funds, project owners, entrepreneurs, and government agencies attended the event.
• Four Indian companies were shortlisted in the Sustainable Infrastructure track, and ten Indian start-ups were selected in the ClimateTech track to present their innovative ideas.
• The forum resulted in USD 23 billion in investment opportunities for sustainable infrastructure projects in the Indo-Pacific.
• The IPEF Catalytic Capital Fund was launched to support clean economy infrastructure projects in emerging and upper-middle-income economies.
• A significant agreement was signed between Sembcorp Green Hydrogen India Private Limited, Kyushu Electric, and Sojitz for the production and export of green ammonia from India to Japan.

Important Terms Explained:

• Indo-Pacific Economic Framework for Prosperity (IPEF): A collaborative initiative aimed at promoting economic cooperation and sustainable development in the Indo-Pacific region.
• Clean Economy: An economy that aims for sustainable development by minimizing environmental impact through the use of renewable energy, sustainable infrastructure, and green technologies.
• Green Hydrogen: Hydrogen produced using renewable energy sources, which is considered an environmentally friendly fuel.
• National Green Hydrogen Mission: An initiative by India to make the country a global hub for the production and export of green hydrogen and its derivatives.

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National Affairs – Daily Current Affairs June 06

12. Where will the 81st IATA Annual General Meeting (AGM) and World Air Transport Summit be held in 2025?
A) Mumbai
B) Dubai
C) Delhi
D) New York
E) London
Answer: C) Delhi

Event and Location:

• The 81st IATA Annual General Meeting (AGM) and World Air Transport Summit will be held in Delhi, India.

Mandates and Objectives:

• The 81st IATA AGM will be hosted by IndiGo in Delhi from June 8 to 10, 2025.
• This is the third time the IATA AGM will be held in Delhi, previously in 1958 and 1983.
• The decision was made at the 80th IATA AGM in Dubai.
• Willie Walsh, IATA’s Director General, emphasized India’s growth in aviation and infrastructure.
• Pieter Elbers, CEO of IndiGo, highlighted India’s economic growth and the airline’s international expansion.

Important Terms Explained:

• IATA (International Air Transport Association): A trade association representing and serving the airline industry worldwide.
• AGM (Annual General Meeting): A yearly gathering of an organization’s interested shareholders.
• IndiGo: India’s largest airline by passengers carried and fleet size, serving domestic and international routes.

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Over All Review

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