Daily Current Affairs June 28

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 28. 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 28 | Daily Current Affairs 2024

Sports – Daily Current Affairs June 28

1. Where will India’s first Olympic-size BMX track be established?
A) Mumbai
B) Delhi
C) Bangalore
D) Chennai
E) Hyderabad
Answer: D) Chennai

Event and Location:

• Event: Establishment of India’s first Olympic-size BMX track.
• Location: Chennai, specifically at Melakottaiyur.

Mandates and Objectives:

• Authority: Sports Development Authority of Tamil Nadu (SDAT).
• Announcement By: Udhayanidhi Stalin, Minister of Sports and Youth Affairs.
• Objective: To provide a state-of-the-art facility for BMX racing and improve athlete performance through the introduction of an Athlete Management System.
• Cost: ₹12 crore.

Important Terms Explained:

• BMX Racing: A type of off-road bicycle racing where riders race around a track with jumps and obstacles.
• Athlete Management System: A system designed to monitor and enhance the performance of athletes through various metrics and data.

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Banking and Finance – Daily Current Affairs June 28

2. Which bank inaugurated a domestic retail branch at GIFT City?
A) ICICI Bank
B) HDFC Bank
C) SBI
D) Axis Bank
E) Kotak Mahindra Bank
Answer: D) Axis Bank

Event and Location:

• Event: Inauguration of a domestic retail branch.
• Location: GIFT City, Gandhinagar, Gujarat.

Mandates and Objectives:

• Authority: Axis Bank.
• Objective: To provide a wide range of banking services for retail and institutional customers.
• Services Offered:
  • Savings accounts, fixed deposits, loans, forex, trade finance, treasury solutions.
  • Seamless US Dollar ($) fixed deposits for NRI customers through the Axis Bank mobile banking application.
  • Comprehensive services for start-ups, residential projects, and other businesses within GIFT City.
  • Unique facilities like BNA (Bunch Note Acceptors) ATM machine.

Key Personnel:

• Inauguration By: Tapan Ray, MD & Group CEO, GIFT City.
• Remarks By: Ms. Arnika Dixit, President and Head – Branch Banking, Axis Bank.

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3. Which travel booking platform has expanded its partnership with PhonePe to offer flight and bus booking services?
A) MakeMyTrip
B) Cleartrip
C) Goibibo
D) Ixigo
E) Yatra
Answer: D) Ixigo

Event and Location:

• Event: Expansion of partnership between Ixigo and PhonePe.
• Location: Available to PhonePe users across India.

Mandates and Objectives:

• Companies: Ixigo and PhonePe.
• Objective: To offer a comprehensive range of travel booking services, including flights, trains, and buses on the PhonePe app.

Key Features:

• Services Integrated: Ixigo flights for flight bookings, AbhiBus for bus bookings, and ConfirmTkt for train bookings.
• User Base: Over 54 crore PhonePe users.
• Target Audience: Particularly beneficial for travelers from tier-II/III cities.
• Benefits: Simpler payment processes, exciting discounts, and offers on bookings, advanced features, and value-added services from Ixigo group.

Key Personnel:

• Aloke Bajpai: CEO of Ixigo Group.
• Sameer Nigam: Founder and CEO of PhonePe.

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4. What is the coupon rate for the 15-year infrastructure bonds issued by SBI?
A) 6.75%
B) 7.10%
C) 7.36%
D) 7.49%
E) 8.00%
Answer: C) 7.36%

Event and Location:

• Event: SBI raises Rs 10,000 crore through 15-year infrastructure bonds.
• Location: India.

Mandates and Objectives:

• Authority: State Bank of India (SBI).
• Objective: To fund infrastructure projects in sectors like power, roads, etc.
• Coupon Rate: 7.36%, representing a spread of 21 basis points (bps) over the corresponding government bond yield curve.
• Total Outstanding Bonds: After this issuance, Rs 49,718 crore.

Details of Issuance:

• Oversubscription: The issue was oversubscribed by about four times the base issue size of Rs 5,000 crore.
• Bids Received: 143 bids, indicating wide participation from provident funds, pension funds, insurance companies, mutual funds, corporates.
• Previous Issuance: A 15-year infrastructure bond was placed at a coupon of 7.49% in September 2023.

Usage of Funds:

• Purpose: To enhance long-term resources for funding infrastructure and affordable housing segments.
• Exemption: Money raised through these bonds is exempt from regulatory reserve requirements like Statutory Liquidity Ratio (SLR) and Cash Reserve Ratio (CRR).

Key Financial Information:

• Infrastructure Loans: SBI’s infrastructure loans rose by 5.72% year-on-year to Rs 3.94 trillion by the end of March 2024.
• Key Exposures: Power sector (Rs 2.04 trillion), ports and roads (Rs 1.12 trillion), telecom (Rs 30,376 crore).

Government Initiatives:

• National Infrastructure Pipeline (NIP): Targeted investments of $1.4 trillion.
• National Monetisation Pipeline (NMP): Various initiatives to strengthen the economy and ramp up infrastructure.

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Business and Economy – Daily Current Affairs June 28

5. What GDP growth rate does NCAER forecast for India in fiscal year 2024-25?
A) 5%
B) 6%
C) 7%
D) 8%
E) 9%
Answer: C) 7%

Event and Location:

• Event: NCAER’s projection of India’s GDP growth.
• Location: India.

Mandates and Objectives:

• Authority: National Council of Applied Economic Research (NCAER).
• Objective: To project India’s GDP growth for fiscal year 2024-25.
• Forecasted Growth: Over 7%, potentially nearing 7.5%.
• Driving Factors:
  • Strong domestic economic indicators.
  • Anticipated normal monsoons.
  • Favorable global conditions.
  • Robust economic activity as indicated by high-frequency data.

Economic Resilience and Growth Projections:

• Current Fiscal Year: GDP growth range projected between 6.2% and 7.2%.
• Director General: Poonam Gupta highlights the potential for growth exceeding 7%, driven by strong first-quarter performance and proactive economic policies.

Monetary and Inflation Dynamics:

• Retail Inflation: Declined to a 12-month low of 4.7% in May.
• RBI Focus: Maintaining CPI-based inflation within the targeted range of 4%.
• Monetary Policy: Stability despite food price challenges.

Sectoral Performance and Indicators:

• Key Indicators:
  • Purchasing Managers’ Index (PMI).
  • Index of Industrial Production (IIP).
  • Goods and Services Tax (GST) collections.
• Bank Credit Growth: Robust, with moderated growth in personal loans.
• Agricultural Prospects: Optimistic.

Challenges and Future Outlook:

• Global Risks: Remain subdued but present.
• Challenges: Managing food inflation, enhancing climate-resilient food supply chains.
• Policy Recommendations: Comprehensive framework to sustain economic growth amidst global and domestic dynamics.

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Awards – Daily Current Affairs June 28

6. Who won the 2024 Commonwealth Short Story Prize?
A) Arvind Adiga
B) Salman Rushdie
C) Sanjana Thakur
D) Jhumpa Lahiri
E) Vikram Seth
Answer: C) Sanjana Thakur

Event and Location:

• Event: 2024 Commonwealth Short Story Prize.
• Location: London.
• Date: June 27, 2024.

Mandates and Objectives:

• Award: Commonwealth Short Story Prize.
• Recipient: Sanjana Thakur, a 26-year-old writer from Mumbai.
• Winning Story: “Aishwarya Rai.”

Details of the Winning Story:

• Title: “Aishwarya Rai.”
• Plot: The story reimagines and reverses the traditional adoption story.
  • Main Character: Avni.
  • Setting: A small Mumbai apartment with thin walls and a small balcony.
  • Narrative: Avni chooses between potential mothers from a local shelter, facing the irony and cynicism of modern urban life.
• Writing Style: Employs brutal irony, sarcasm, cynicism, and wry humour packaged in tight prose and stanza-like paragraphs.

About Commonwealth Short Story Prize:

• Annual Award: For unpublished short fiction, administered and funded by the Commonwealth Foundation.
• Regions Covered: Africa, Asia, Canada and Europe, Caribbean, and Pacific.
• Judging Panel: One judge from each region, with all judges reading entries from all regions.
• Prizes:
  • Overall Winner: £5,000.
  • Regional Winners: £2,500 each.
  • Translation Prize: Additional prize money for translated works.

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National Affairs – Daily Current Affairs June 28

7. Which company signed an MoU with Anna University to provide skill-based training on VLSI design?
A) Infosys
B) TCS
C) HCL
D) Wipro
E) Cognizant
Answer: D) Wipro

Event and Location:

• Event: Signing of an MoU for skill-based training on VLSI design.
• Location: Anna University, Chennai.

Mandates and Objectives:

• Authority: Wipro Ltd.
• Partnership: Anna University.
• Objective: To provide faculty and students with skill-based training on VLSI design.
• Training Team: Delivered by Wipro’s Talent Skilling Team.
• Additional Benefits: Internships and placement opportunities for students completing the course.
• Target Audience: Sixth and seventh semester students of the electronics department.
• Innovation Centre: Wipro plans to set up an innovation centre to offer these courses.

Important Terms Explained:

• VLSI Design: Very-Large-Scale Integration (VLSI) refers to the process of creating integrated circuits by combining thousands of transistors into a single chip.
• MoU: Memorandum of Understanding, an agreement between parties outlining mutual goals and intentions.

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8. Which companies are collaborating with Tech Mahindra to launch Project Indus LLM?
A) IBM and Microsoft
B) Google and Amazon
C) Intel and Dell Technologies
D) Apple and Nvidia
E) Oracle and HP
Answer: C) Intel and Dell Technologies

Event and Location:

• Event: Launch of Project Indus LLM.
• Location: Global rollout with initial focus on the Hindi language and its 37+ dialects.

Mandates and Objectives:

• Company: Tech Mahindra in collaboration with Intel and Dell Technologies.
• Objective: To develop an indigenous foundational model designed to converse in various Indic languages and dialects.
• Phase One: Focus on the Hindi language and its dialects.
• Technology and Infrastructure:
  • Dell Technologies: Provides high-performance computing solutions, storage, and networking capabilities.
  • Intel: Provides infrastructure solutions, including Intel Xeon Processors and OneAPI software. Utilizes Intel GaudiAI Accelerators and Intel Advanced Matrix Extensions (AMX) for AI training.
• Implementation Framework: ‘GenAI in a box’ to simplify deployment of advanced AI models for enterprises.

Key Personnel:

• Nikhil Malhotra: Global Head – Makers Lab, Tech Mahindra.
• Denise Millard: Chief Partner Officer, Dell Technologies.
• Santhosh Viswanathan: Vice President & Managing Director – India Region, Intel.

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9. Which is the second military station in India to construct a road using plastic waste?
A) Pune Military Station
B) Delhi Military Station
C) Jaipur Military Station
D) Mumbai Military Station
E) Chennai Military Station
Answer: C) Jaipur Military Station

Event and Location:

• Event: Inauguration of a plastic waste road.
• Location: Jaipur Military Station, Jaipur, Rajasthan.
• Inauguration Date: June 26, 2024.

Mandates and Objectives:

• Authority: Indian Army.
• Construction: Under the aegis of GE (South), CE Jaipur Zone, with assistance from Deep Constructions Pvt. Ltd.
• Objective: To align with the Indian Army’s policy of creating sustainable and green military stations.

Key Features:

• Length and Stretch: The road is 100 meters long, extending from Sagat Singh Road under bridge to Cubs Corner complex.
• Benefits:
  • More durable than conventional roads.
  • Less wear and tear.
  • Reduces water induction.
  • Increases sustainability.

Government Policy on Plastic Waste Roads:

• Initiation: Allowed use of plastic waste in constructing National Highways on a pilot basis in 2015.
• Expansion: By 2017, permitted mixing of 10% plastic waste with hot bitumen for road construction.
• Mandate: In 2023, mandatory use of plastic waste for constructing and repairing service roads of national highways within a 50-kilometer radius in urban-rural areas with populations of five lakh or more.

Environmental Impact:

• Helps mitigate pollution.
• Reduces discarded plastic pollution or creation of air pollutants from burning.
• Prevents blocking of seed germination in agricultural fields and ingestion by animals.

Pioneer of Plastic Roads:

• Inventor: Professor Rajagopalan Vasudevan, Thiagarajar College of Engineering, Madurai.
• Technique: Mixing plastic waste with heated bitumen and coating the mixture over stones for road construction.
• Recognition: Known as the Plastic Man of India, awarded Padma Shri in 2018.
  Success Stories:
• Cities: Chennai, Delhi, Jamshedpur, Pune, Indore, and Lucknow have adopted plastic waste road construction.
• Audit: Central Pollution Control Board (CPCB) audit confirmed durability without potholes, rutting, or ravelling after four years.

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Over All Review

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