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Daily Current Affairs 10th June 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 10th June 2023. It includes all Major National, International, Business and Sports related current affairs of 10th June 2023. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 10th June 2023 Current affairs test.


International News

1. US and UK Forge ‘Atlantic Declaration’ to Strengthen Economic Bonds

  • The United States and the United Kingdom have recently introduced a groundbreaking strategic agreement known as the “Atlantic Declaration.”
  • This pact reaffirms their enduring “special relationship” and outlines a joint initiative to address challenges posed by Russia, China, and economic instability. Instead of pursuing a post-Brexit free-trade deal, both nations have opted to promote a new green economy through extensive industrial subsidies.
  • The Atlantic Declaration primarily focuses on promoting collaboration in defense and renewable energy sectors to effectively counter China’s increasing competition. Additionally, it recognizes the necessity of addressing threats from authoritarian states, disruptive technologies, non-state actors, and global issues such as climate change.

Banking News

2. RBI Expands the Scope of TReDS, Involving Insurers as Participants

  • The Reserve Bank of India (RBI) has taken a significant step to enhance the trade receivables discounting system (TReDS) by permitting insurance companies to participate as stakeholders.
  • This move aims to improve the cash flows of Micro, Small, and Medium Enterprises (MSMEs) while also promoting transparency and competitiveness in trade receivables financing.

3. Go Digit Life Insurance Receives IRDAI Approval to Operate in India

  • Go Digit Life Insurance Limited, a company supported by Canada-based Fairfax Group and already operating in the general insurance sector, has obtained regulatory approval from the Insurance Regulatory and Development Authority of India (IRDAI) to commence its life insurance operations in India.
  • This recent approval brings the total number of insurers in the Indian life insurance sector to 26. Furthermore, Go Digit General Insurance is planning to launch an initial public offering (IPO) and has submitted the necessary documents to the Securities and Exchange Board of India (SEBI).

Appointments News

4. FSIB Announces New Leadership for GIC Re and NIC

  • The Financial Services Institution Bureau (FSIB) has chosen N Ramaswamy, General Manager of the General Insurance Corporation of India (GIC Re), as the next Chairman and MD (CMD) of the company. M Rajeswari Singh, General Manager & Director (GMD) of United India Insurance, has been selected as the CMD of the National Insurance Company (NIC).
  • Ramaswamy will serve a two-year term upon approval by the Appointments Committee of Cabinet (ACC). The post of CMD at GIC Re will become vacant after Devesh Srivastav completes his four-year tenure at the end of September when he turns 60. The NIC CMD position will be filled after Suchita Gupta departs at the end of August. FSIB has also appointed Sat Pal Bhanoo and R. Doraiswamy as new managing directors of Life Insurance Corporation.

5. V Anantharaman Appointed as Chairman of TransUnion CIBIL

  • V Anantharaman, a seasoned banker with extensive experience in the banking industry, has been named the non-executive chairman of the credit bureau TransUnion CIBIL. Anantharaman has held leadership roles in corporate and investment banking teams at renowned international firms such as Standard Chartered Bank, Credit Suisse, Deutsche Bank, and Bank of America.
  • Anantharaman holds a post-graduate diploma in business management from XLRI and a bachelor’s degree in engineering from Jadavpur University. He has also served as a senior advisor to British International Investment (formerly CDC), which is the UK’s Development Finance Institution.

Agreements News

6. IICA and RRU Sign MoU for Academic and Research Collaboration

  • An Memorandum of Understanding (MoU) has been signed between the Indian Institute of Corporate Affairs (IICA) and Rashtriya Raksha University (RRU).
  • The MoU aims to leverage the professional capabilities of IICA and RRU to enhance capacity building, education, research, and consulting in the domains of Internal Security, Financial Crimes, Law Enforcement, Corporate Frauds, and other relevant areas aligned with their mandates and objectives.
  • Additionally, the MoU facilitates the exchange of knowledge and resources between IICA and RRU for conducting research, training, and consultancy.

Ranks and Reports News

7. Mumbai Tops the List as India’s Most Expensive City for Expatriates

  • According to Mercer’s Cost of Living survey, Mumbai has been identified as the costliest city for expatriates in India. The survey analyzed 227 cities across five continents to assess the cost of living for expats.
  • Following Mumbai, New Delhi and Bengaluru secured the second and third positions, respectively, on the list.

8. India’s Internet Economy Set for $1 Trillion Growth by 2030

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  • India’s internet economy is projected to reach $1 trillion by 2030, demonstrating significant growth from its 2022 valuation of $175 billion, as reported in a joint study by Google, Temasek, and Bain & Company.
  • The report highlights that the expansion of the digital sphere is being driven by increased digital consumption in sectors such as e-commerce, online travel, food delivery, and ride-hailing.
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