Daily Current Affairs: June 05, 2021

Daily Current Affairs (June 05, 2021) like many other sections is inevitable and this also helps to score in the Banking awareness, Static GK, and Financial Awareness sections. Remember, Banking Awareness, and Static Awareness Questions are asked from the General Awareness section. This will also help you to ride your preparations for the forthcoming exams.

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 Important Days

World Environment Day – 5 June

• World Environment Day is observed globally on 5 June every year. This day is observed to spread awareness about the threat to the environment due to rising pollution levels and climate change. The first World Environment Day was observed in
• Pakistan will be the global host for the 2021 World Environment Day.
• 2021 Theme: “Ecosystem Restoration”

International Day for the Fight against Illegal, Unreported and Unregulated Fishing – 5 June

• The International Day for the Fight against Illegal, Unreported and Unregulated Fishing is observed on 5 June every year to help focus attention on the small-scale fishermen and women. This day was proclaimed by the United Nations General Assembly in 2017.
• 2021 Theme: “We’re part of the solution”

National News

Union Minister Narendra Singh Tomar inaugurates Indus Best Mega Food Park at Raipur, Chhattisgarh

• Union Minister of Food Processing Industries Narendra Singh Tomar virtually inaugurated the Indus Best Mega Food Park at Raipur, Chhattisgarh.
• The Mega Food Park has been set up in over 63 acres of land at a project cost of over 145 crores. It will ensure value addition, longer shelf life for farm produce, better price realisation for farmers, excellent storage facility and will provide an alternate market for farmers in the region.

Chhattisgarh    

• Capital: Raipur
• Chief Minister: Bhupesh Baghel
• Governor: Sushri Anusuiya Uikey

Lt. Governor of Ladakh RK Mathur launches YounTab scheme for students to encourage digital learning

• Ladakh Lieutenant Governor RK Mathur has launched the YounTab scheme for students in Ladakh. He distributed tablets to the students of classes 9 to 12 as part of the first phase of the YounTab Scheme.
• A total of 12,300 students of classes 6 to 12 from government schools will benefit from the scheme.

Ladakh

• Capital: Leh
• Lieutenant Governor: Radha Krishna Mathur

The Expert Committee on Variable Capital Company headed by KP Krishnan submits its report to IFSCA

• The Expert Committee on the Variable Capital Company headed by KP Krishnan has submitted its report on the feasibility of variable capital companies in the International Financial Services Centres (IFSCA) to the Chairperson of the IFSCA Injeti Srinivas.
• The IFSCA set up this Committee to explore the potential for allowing another legal structure popularly known as a variable capital company (VCC) as an additional option through which asset managers could pool the investors’ funds.

Indian Navy’s oldest hydrographic survey ship INS Sandhayak was decommissioned after 40 years of service

• Indian Navy’s oldest hydrographic survey ship INS Sandhayak was decommissioned at the Naval Dockyard in Visakhapatnam after serving the nation for 40 years.
• The hydorgraphic survey ship has been an active participant in many significant operations, such as Operation Pawan in 1987 and Operation Rainbow in 2004.

Union Government sets up an expert panel headed by Ajit Mishra to fix minimum pay and national floor wage

• Union Ministry of Labour and Employment constituted an expert group to provide technical inputs and recommendations on the fixation of minimum wages and the national floor for minimum wages.
• The expert group was constituted for three years and is chaired by Ajit Mishra, Director of the Institute of Economic Growth.

International News

ADB and India sign an agreement to support road upgrade in Sikkim

• The Asian Development Bank (ADB) and the Government of India signed a $2.5 million project readiness financing (PRF) loan to support project preparation and design activities to upgrade major district roads in
• The loan will help improve connectivity to important towns, rural areas, and pilgrimage and tourist destinations in Sikkim.

Asian Development Bank (ADB)

• Founded: 19 December 1966
• Headquarters: Mandaluyong, Philippines
• President: Masatsugu Asakawa
• Chief Economist: Yasuyuki Sawada

Banking and Economy

RBI revises India’s GDP growth forecast to 9.5% for FY22

• The Reserve Bank of India (RBI) had cut its projection for gross domestic product (GDP) growth for 2021–22 fiscal (FY22) to 9.5 per cent from the earlier forecast of 10.5 per cent.
• RBI also lowered Consumer Price Inflation (CPI) at 5.1 per cent in FY22 from the earlier forecast of 5.2 per cent.
• Reserve Bank of India (RBI) Governor Shaktikanta Das kept interest rates unchanged and retained an accommodative stance for the sixth consecutive time in the second bi-monthly Monetary Policy Committee (MPC) of 2021.
• Repo Rate: 4.00%
• Reverse Repo Rate: 3.35%
• Marginal Standing Facility (MSF): 4.25%
• Bank Rate : 4.25%
• Cash Reserve Ratio (CRR) : 4.00%
• Statutory Liquidity Ratio (SLR) : 18.00%

Reserve Bank of India (RBI)

• Headquarters: Mumbai, Maharashtra
• Formation: 1 April 1935
• Governor: Shaktikanta Das
• Deputy Governors: MK Jain, MD Patra, M Rajeshwar Rao and T Rabi Sankar
• Subsidiaries: Deposit Insurance and Credit Guarantee Corporation (DICGC), Bharatiya Reserve Bank Note Mudran (BRBNM)

RBI announces on-tap liquidity window of Rs. 15,000 crore for contact-intensive sectors like hotels and salons

• Reserve Bank of India (RBI) has announced a separate on-tap liquidity window of 15,000 crore for contact intensive sectors like restaurants, hotels and those involved in the tourism sector, among others.
• The tenors of this window shall be of up to three years at a rate of repo rate. The facility will be available till 31 March 2022.

HDFC Bank announces to become carbon neutral by 2031–32

• HDFC Bank has announced plans to become carbon neutral by 2031–32. As part of this initiative, the bank is looking at reducing its emissions, energy and water consumption.
• The bank will continue to incorporate and scale up the use of renewable energy in its operations. It also working on a framework for issuing green bonds.

HDFC Bank (Housing Development Finance Corporation)

• Headquarters: Mumbai, Maharashtra
• Chairman: Deepak Parekh
• MD & CEO: Sashidhar Jagdishan
• Tagline: “We understand your world”
• Established: 1994

SEBI signs an MoU with Luxembourg’s CSSF to strengthen cooperation in securities regulation

• Securities and Exchange Board of India (SEBI) has signed a Memorandum of Understanding (MoU) with Commission de Surveillance du Secteur Financier (CSSF), the supervisory authority for the financial sector of Luxembourg, for mutual cooperation and technical assistance.
• The objective of the Memorandum of Understanding (MoU) is to strengthen cross-border cooperation in the area of securities regulation.

Securities and Exchange Board of India (SEBI)

• Headquarter: Mumbai, Maharashtra
• Chairman: Ajay Tyagi
• Founded: 12 April 1992

Science and Technology

IIT Hyderabad develops nano-fibre technology-based oral tablets of Amphotericin B to treat fungal infections

• The Indian Institute of Technology (IIT) Hyderabad has developed nano-fibre based oral tablets of Amphotericin B (AmB) to treat fungal infections post COVID-19 treatment. Currently, the Amphotericin B (AmB) is available in injectable form.
• The IIT Hyderabad researchers have decided to keep the technology free of intellectual property rights and ready for technology transfer for mass production of the drug.

Appointments

Vishwavir Ahuja was re-appointment as MD and CEO of RBL Bank

• The Reserve Bank of India (RBI) has approved the appointment of Vishwavir Ahuja as the Managing Director (MD) and Chief Executive Officer (CEO) of Ratnakar Bank (RBL Bank) for one year with effect from 30 June 2021.
• Before RBL Bank, he was the Managing Director & CEO of Bank of America, India, from 2001 to 2009.

RBL Bank

• Headquarters: Mumbai, Maharashtra
• MD & CEO: Vishwavir Ahuja

Awards and Recognitions

Wipro becomes the third Indian IT firm to scale Rs. 3 trillion market capitalisation

• Wipro has touched 3 trillion in market capitalisation for the first time, becoming the third Indian IT firm to achieve the milestone after Tata Consultancy Services (TCS) and Infosys.

Sports News

Tech Mahindra ties up with FIDE for “Phygital” Global Chess League

• The International Chess Federation (FIDE) has signed a Memorandum of Understanding (MoU) with Tech Mahindra Limited to establish the “Phygital” (physical and digital) Global Chess League. It will be the only world league officially recognised by FIDE with India’s five-time former world champion Viswanathan Anand as its mentor.

FIDE (International Chess Federation)

• Headquarters: Lausanne, Switzerland
• CEO: Geoffrey D Borg
• President: Kirsan Ilyumzhinov

Daily CA June 5 One-liner:

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