Daily Current Affairs 2nd June 2024

Daily Current Affairs 2nd June, 2024: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 2nd June, 2024. It includes all Major National, International, Business and Sports related current affairs of 2nd June, 2024. 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 2nd June, 2024 Current affairs test.

 

Banking & Finance News

Reserve Bank of India Cancels 1^st-Ever 10-Year Green Bond Auction           

• In a first, the Reserve Bank of India (RBI) cancelled the auction of 10-year green bonds as traders refused to pay greenium.
• This decision highlights the challenges in pricing and trading green bonds in the market.
• Greenium signifies the premium investors are willing to pay for green bonds because of their sustainability impact.
• It signifies the lower yield investors accept for these securities, which are aimed at financing environmentally sustainable projects.

Unified Payment Interface Network Sets New Record with 14.04 Billion   

• The Unified Payments Interface (UPI) network operated by the National Payments Corporation of India (NPCI) has set a new record by processing 04 billion transactions in May,2024 compared to 13.3 billion in April, 2024.
• By value, UPI transactions totalled ₹20.45 lakh crore in May, compared to ₹19.64 lakh crore in April.

Canara Bank to Divest 14.50% Stake in Canara HSBC Life Insurance Through Initial Public Offering        

• Canara Bank has approved the initiation of the process to dilute its 50% stake in its subsidiary, Canara HSBC Life Insurance Company Limited., through an initial public offering (IPO).

 

Reserve Bank of India Transfers 100 Tonnes of Gold from United Kingdom to Indian Vaults, 1st Time Since 1991    

• The Reserve Bank of India (RBI) has transferred around 100 tonnes or 1 lakh kilograms of gold from the United Kingdom to its vaults in India.
• This is the largest gold transfer since early 1991, and the central bank plans to move more gold in the coming months.
• Domestically, gold is stored in vaults located in the RBI’s old office building on Mumbai’s Mint Road and in
• This move will help the RBI save on storage costs previously paid to the Bank of England.

Insurance Regulatory and Development Authority of India Supports 100% Cashless Claim Settlement in Health Insurance  

• The Insurance Regulatory and Development Authority of India (IRDAI) has issued a new health insurance circular that seeks to improve services for policyholders by reducing settlement times and ensuring cashless claim processes.
• The regulator wants insurers to achieve 100% cashless claim settlement in a time-bound manner, minimising the need for reimbursement claims to exceptional circumstances.

National News

BIMSTEC-India Marine Research Network BIMReN Launched

• The Government of India has launched BIMReN (BIMSTEC-India Marine Research Network), a joint initiative of the Ministry of External Affairs (MEA) and the Bay of Bengal Programme-Inter Governmental Organization (BOBP-IGO).
• The aim is to foster sustainable development of the blue economy by connecting researchers and research institutions in BIMSTEC countries.

After Dearness Allowance, the government hikes the gratuity limit for central govt employees by 25%

• The government has decided to raise the gratuity limit for central government employees by 25%, effective January 1, 2024.
• The new limit has increased from ₹20 lakhs to ₹25 lakhs.

International News

India’s 1st Woman United Nations Representative Ruchira Kamboj Retires After 35 Years of Service     

• India’s first woman Permanent Representative to the United Nations, Ruchira Kamboj, retired after 35 years of service.
• She served as an Indian envoy in Bhutan, South Africa, and the United Nations Educational, Scientific and Cultural Organization (UNESCO).

Business News

India’s GDP Exceeds Estimates, Grows At 8.2% In FY24 And 7.8% In Q4

• India’s real GDP grew by 7.8% in the fourth quarter (January-March) of FY 2023-24, propelling the full-year growth to an impressive 8.2%.

Mous And Agreement

L&T Finance partners with PhonePe to offer home & mobility financing solutions

• Leading NBFC L&T Finance has forged a strategic partnership with FinTech major PhonePe to expand the range of financial products and offer secured lending options to customers.

Armed Forces Medical Services & IIT Hyderabad ink MoU for Collaborative Research and Training

• The Armed Forces Medical Services (AFMS) has signed a memorandum of understanding (MoU) with the Indian Institute of Technology (IIT) Hyderabad to collaborate on research and training.

Science & Technology

IIT Madras Startup Agnikul Cosmos Launches World’s First Rocket Featuring Fully 3D-Printed Engine   

• In a remarkable achievement, IIT Madras’ startup, Agnikul Cosmos, has launched the world’s first rocket with a single-piece three-dimensional (3D) printed engine.
• The rocket Agnibaan SOrTeD (SubOrbital Technological Demonstrator) is also India’s first semi-cryogenic engine-powered rocket launch that was completely designed and manufactured indigenously.

European Space Agency Launches EarthCARE Mission to Study Clouds and Aerosols in Earth’s Climate   

• Earth Cloud Aerosol and Radiation Explorer (EarthCARE) satellite, a joint mission of ESA (European Space Agency) and JAXA (Japan Aerospace Exploration Agency), has been successfully launched.
• It aims to examine the role clouds and aerosols play in reflecting incident solar radiation back to space while trapping the infrared radiation emitted from Earth’s surface.

Important Days

Telangana Formation Day 2024: June 2

• On June 2nd , Telangana Formation Day 2024 is observed by the Telangana people.
• It is a national event celebrated annually on June 2nd to celebrate the day when Telangana was formed from the state of Andhra Pradesh.