Daily Current Affairs June 25

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 25. 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 25 | Daily Current Affairs 2024

Banking and Finance – Daily Current Affairs June 25

1. What is the name of the new digital investment platform launched by HDFC Bank?
A) WealthSmart
B) SmartInvest
C) SmartWealth
D) WealthPro
E) WealthPlus
Answer: C) SmartWealth

Event and Location:

• Event: HDFC Bank launches digital investment platform SmartWealth
• Location: India

Mandates and Objectives:

• Launch Details:
  • Launched By: HDFC Bank
  • Platform Name: SmartWealth
  • Launch Date: June 25, 2024
• Purpose:
  • Make wealth services accessible to every Indian
  • Simplify and provide transparency in investments
• Features:
  • SmartJars: Personalized portfolio plans that can be modified or paused anytime
  • Model Portfolios: Curated investment baskets for DIY investing based on HDFC Bank’s 25 years of expertise
  • Consolidated Account Statement (CAS): Downloadable in just three clicks
  • Portfolio Rebalancing: Prompts users to adjust their investment mix in volatile market conditions
  • Portfolio Analytics: Analyzes asset distribution and alerts users to overexposure in a particular fund
• Investment Options:
  • Mutual funds
  • Fixed deposits
  • Recurring deposits
  • Future plans for insurance, sovereign gold bonds, and Public Provident Fund (PPF)

Important Terms Explained:

• SmartWealth:
  • A digital investment platform launched by HDFC Bank aimed at making investments simple and transparent for first-time investors.
• SmartJars:
  • Personalized portfolio plans within SmartWealth that can be customized or paused according to user preferences.
• Consolidated Account Statement (CAS):
  • A comprehensive statement that provides a summary of all investments, downloadable with ease.
• Portfolio Rebalancing:
  • A feature that suggests adjustments to an investment portfolio to maintain alignment with financial goals during market volatility.
• Portfolio Analytics:
  • A tool that examines asset allocation and helps mitigate risk by identifying overexposure in certain funds.

Static GK Information:

Tabular Summary:

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2. Which company has secured a corporate agent license from IRDAI to offer insurance products?
A) HDFC Microfin
B) Bandhan Bank
C) Ujjivan Microfinance
D) Muthoot Microfin
E) Bharat Financial Inclusion
Answer: D) Muthoot Microfin

Event and Location:

• Event: Muthoot Microfin secures IRDAI licence to offer insurance products
• Location: Bengaluru, India

Mandates and Objectives:

• License Details:
  • Secured By: Muthoot Microfin
  • Licensing Authority: Insurance Regulatory and Development Authority of India (IRDAI)
  • Date: June 25, 2024
• Purpose:
  • To offer tailored insurance plans to Muthoot Microfin’s customer base.
  • Enhance financial inclusion by providing insurance coverage for natural calamities, medical emergencies, and life insurance.
• Benefits:
  • Provides holistic financial security to vulnerable segments of society.
  • Facilitates better negotiation with insurance partners and customization of products for BOP customers.
  • Allows Muthoot Microfin to offer both financial and insurance solutions under one roof.
  • Augments revenue and earnings for Muthoot Microfin.
• Customer Base:
  • Muthoot Microfin serves 3.35 million customers, primarily in rural and semi-urban areas across India.

Important Terms Explained:

• IRDAI (Insurance Regulatory and Development Authority of India):
  • The regulatory body responsible for overseeing the insurance industry in India, ensuring the fair treatment of policyholders, and promoting the growth of the insurance sector.
• Corporate Agent License:
  • A license granted to a company allowing it to act as an agent for multiple insurance companies, offering a range of insurance products to its customers.
• BOP (Bottom of the Pyramid):
  • Refers to the largest, but poorest, socio-economic group. In this context, it denotes the segment of Muthoot Microfin’s customers who are in rural and semi-urban areas and are financially vulnerable.

Static GK Information:

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3. Which crypto exchange platform has launched an in-app Web3 mode, providing access to over 50,000 DeFi tokens?
A) Binance
B) CoinDCX
C) WazirX
D) Coinbase
E) Kraken
Answer: B) CoinDCX

Event and Location:

• Event: CoinDCX launches in-app Web3 mode
• Location: India

Mandates and Objectives:

• Launch Details:
  • Launched By: CoinDCX
  • Feature: In-app Web3 mode
  • Launch Date: June 25, 2024
• Purpose:
  • Streamline user experience.
  • Provide users with direct access to a wide range of DeFi tokens.
• User Base:
  • CoinDCX has 1.5 crore (15 million) users.
• Features:
  • Access: Over 50,000 DeFi tokens
  • User Experience: Enhanced, streamlined access to decentralized finance (DeFi) products.

Important Terms Explained:

• Web3:
  • Refers to the third generation of internet services, focusing on decentralization, blockchain technologies, and token-based economics.
• DeFi (Decentralized Finance):
  • Financial services built on blockchain technology that offer decentralized alternatives to traditional financial systems, such as lending, borrowing, and trading without intermediaries.

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Business and Economy – Daily Current Affairs June 25

4. What is the GDP growth estimate for India in 2024 according to DBS Group?
A) 6.8%
B) 7.0%
C) 7.1%
D) 7.3%
E) 7.4%
Answer: C) 7.1%

Event and Location:

• Event: DBS Group projects India’s GDP growth
• Location: Singapore

Mandates and Objectives:

• Growth Projections:
  • Projected By: DBS Group
  • India’s GDP Growth Estimate for 2024: 7.1%
  • GDP Growth Estimate for April-June 2024: 7.4%
• Observations:
  • GDP growth is expected to moderate from the previous quarter.
  • Despite the moderation, growth remains resilient.

Important Terms Explained:

• GDP (Gross Domestic Product):
  • The total monetary or market value of all the finished goods and services produced within a country’s borders in a specific time period, indicative of the economic health of a country.
• DBS Group:
  • A leading financial services group headquartered in Singapore, involved in consumer banking, treasury and markets, asset management, securities brokerage, and equity and debt fund-raising.

Static GK Information:

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Appointments – Daily Current Affairs June 25

5. Who has the Reserve Bank of India appointed as an additional director on the board of Bandhan Bank?
A) Chandra Shekhar Ghosh
B) Arun Kumar Singh
C) Sandeep Bakshi
D) Rajnish Kumar
E) Aditya Puri
Answer: B) Arun Kumar Singh

Event and Location:

• Event: RBI appoints retired CGM Singh on Bandhan Bank board
• Location: Kolkata, India

Mandates and Objectives:

• Appointment Details:
  • Appointed By: Reserve Bank of India (RBI)
  • Appointed Person: Arun Kumar Singh
  • Position: Additional Director on the Board of Bandhan Bank
  • Term Duration: One year, from June 24, 2024, to June 23, 2025
• Purpose:
  • Ensure a smooth leadership transition ahead of the current MD & CEO Chandra Shekhar Ghosh’s retirement.
  • Support board oversight and assist in orderly and smooth transition.

Important Terms Explained:

• RBI (Reserve Bank of India):
  • India’s central banking institution which controls the issuance and supply of the Indian rupee and manages the main payment systems.
• CGM (Chief General Manager):
  • A senior executive position in the RBI, responsible for various departments and oversight functions.
• Additional Director:
  • A director appointed to the board who is not part of the original board of directors. Typically brought in for their expertise or to fill a temporary need.
• Universal Bank:
  • A bank that offers a wide range of financial services, including commercial banking, investment banking, and other financial services.

Static GK Information:

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6. Who has been reappointed as the Managing Director and Chief Executive Officer of Aditya Birla Sun Life AMC?
A) Sanjay Kapoor
B) Rajesh Sharma
C) A Balasubramanian
D) Piyush Gupta
E) Vikram Pandit
Answer: C) A Balasubramanian

Event and Location:

• Event: Reappointment of A Balasubramanian as MD & CEO
• Location: Mumbai, India

Mandates and Objectives:

• Reappointment Details:
  • Organization: Aditya Birla Sun Life Asset Management Company (AMC)
  • Position: Managing Director and Chief Executive Officer
  • Reappointed Person: A Balasubramanian
  • Tenure: Three years from July 25, 2024
• Achievements:
  • Under his tenure, the Assets Under Management (AUM) grew by 23% to ₹3.32 lakh crore in FY24, compared to ₹2.69 lakh crore in FY21.

Important Terms Explained:

• AUM (Assets Under Management):
  • The total market value of the investments that an asset management company manages on behalf of investors.
• AMC (Asset Management Company):
  • A company that invests pooled funds from clients into a variety of securities and assets. Aditya Birla Sun Life AMC is a prominent example in India.

Static GK Information:

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National Affairs – Daily Current Affairs June 25

7. Where is the first IDF regional dairy conference focusing on the Asia-Pacific region being held?
A) New Delhi
B) Mumbai
C) Kolkata
D) Bengaluru
E) Kochi
Answer: E) Kochi

Event and Location:

• Event: First IDF regional dairy conference focusing on Asia-Pacific
• Location: Kochi, India

Mandates and Objectives:

• Conference Details:
  • Organized By: Ministry of Fisheries, Animal Husbandry & Dairying, National Dairy Development Board (NDDB), and International Dairy Federation (IDF)
  • Duration: 3 days
  • Start Date: Wednesday (June 25, 2024)
  • Theme: “Farmer Centric Innovations in Dairying”
• Purpose:
  • Address key issues affecting the dairy sector.
  • Develop effective dairy policies.
  • Ensure sustainable livelihoods for millions of dairy farmers.
  • Provide nutritional security for consumers.
  • Promote growth in the dairy sector.
  • Minimize the environmental impact of dairying.
• Key Participants:
  • Over 1,000 delegates and participants from more than 20 countries.
  • Leaders and experts from the global dairy sector.
  • Representatives from leading global and Indian institutions.
  • Pioneers in the dairy industry.
• Focus Areas:
  • Contemporary challenges in dairying.
  • Solutions through exchange of ideas and innovations.
  • Productivity enhancement.
  • Efficiencies in milk procurement, processing, and marketing.
  • Joint ventures between organizations from different countries.

Important Terms Explained:

• IDF (International Dairy Federation):
  • An international organization that provides a platform for stakeholders in the dairy sector to collaborate and exchange ideas to promote sustainable dairy policies and practices.
• NDDB (National Dairy Development Board):
  • An institution in India that promotes, plans, and organizes the development of the dairy industry.
• CAGR (Compound Annual Growth Rate):
  • The mean annual growth rate of an investment over a specified period of time longer than one year.

Static GK Information:

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8. Which organization has the Ministry of Defence collaborated with for the design and development of a miniaturised satellite?
A) ISRO
B) DRDO
C) SpaceX
D) SpacePixxel
E) NASA
Answer: D) SpacePixxel

Event and Location:

• Event: Defence Ministry and SpacePixxel tie-up for miniaturised satellite
• Location: Bengaluru, India

Mandates and Objectives:

• Collaboration Details:
  • Collaborating Parties: Ministry of Defence (MoD) and SpacePixxel Technologies Pvt Ltd
  • Objective: Design and development of a miniaturised satellite
  • Payload Capacity: Up to 150 kg
• Initiative:
  • Initiative Name: iDEX (Innovations for Defence Excellence)
  • Significance: Marks the 350th contract under the iDEX program
• Purpose:
  • Enhance defence capabilities with advanced technology.
  • Develop miniaturised satellites capable of carrying multiple payloads.
  • Promote innovation in the defence sector.

Important Terms Explained:

• iDEX (Innovations for Defence Excellence):
  • A flagship initiative of the Ministry of Defence aimed at fostering innovation and technology development in the defence and aerospace sectors.
• Miniaturised Satellite:
  • A small satellite designed to carry out various missions, capable of accommodating multiple payloads despite its compact size.
• Payload:
  • The cargo carried by a satellite, including instruments, equipment, and other materials needed for its mission.

Static GK Information:

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