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Daily Current Affairs 4th June 2023: Your guide for daily General Knowledge Preparation

Dear Readers,

This post contains important current affairs of 4th June 2023. It includes all Major National, International, Business and Sports related current affairs of 4th 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 4th June 2023 Current affairs test.

Agreement

1. Tata to Establish India’s First Gigafactory for Lithium-Ion Cell Manufacturing

  • Tata Group has entered into a Memorandum of Understanding (MoU) with the Gujarat government to establish the first-ever gigafactory in India for manufacturing lithium-ion cells.
  • This agreement is a result of the newly introduced Electronics Policy.
  • The initial investment is estimated at 130 billion rupees.
  • The factory will have a production capacity of 20 GWh.
  • The state government is committed to promoting carbon-free, energy-efficient, and clean energy production, with a focus on electric vehicles and reducing carbon emissions.

Defense

2. Indian Navy’s Eco-Friendly Initiatives and Adoption of Green Technologies

  • The Indian Navy has initiated several environmentally friendly measures and has shared some notable efforts toward becoming a “Clean and Green Navy.”
  • Given the high energy consumption of many of its ships, submarines, and aircraft, improving energy efficiency is a top priority.
  • The Navy has commissioned solar power facilities with a total capacity of 15.87 MW, aligning with the government’s ‘Jawaharlal Nehru National Solar Mission.’

Obituaries

3. Passing of Renowned Theatre Personality Amir Raza Husain

  • The accomplished theatre actor and director, Amir Raza Husain, has passed away at the age of 66.
  • He was widely recognized for his large-scale outdoor stage productions, including “The Fifty Day War,” inspired by the Kargil War, and “The Legend of Ram.”
  • Amir Raza Husain served as the Creative Director of the Stagedoor Theatre Company, established in 1974, which has presented over 91 productions and more than 1,100 performances.
  • He was honored with the Padma Shri award in 2001 by the government for his significant contributions to the world of theatre.

Banking & Finance

4. RBI Imposes ₹2.2 Crore Penalty on Indian Overseas Bank

  • The Reserve Bank of India (RBI) has levied a monetary penalty of ₹2.2 crore on the Indian Overseas Bank due to various violations and breaches of norms.
  • This monetary penalty was imposed by the RBI using its authority under the Banking Regulation Act of 1949.
  • The RBI took this action after discovering instances of non-compliance with specific RBI directives related to income recognition, asset classification, provisioning, interest rates on deposits, and ATM security.

5. ICICI Bank Commits ₹1,200 Crore to Tata Memorial Centre

  • ICICI Bank has pledged to contribute ₹1,200 crore from its Corporate Social Responsibility (CSR) funds to support the Tata Memorial Centre (TMC).
  • The primary objective is to construct three new buildings spanning a combined area of 7.5 lakh square feet at TMC centers in Navi Mumbai (Maharashtra), Mullanpur (Punjab), and Visakhapatnam (Andhra Pradesh).
  • The ICICI Foundation for Inclusive Growth will oversee the project, with an expected completion date in 2027.

State Affairs

6. Maharashtra Government and Bajaj Finserv Collaborate on ₹5,000 Crore Investment

  • The Maharashtra government has inked an MoU with Bajaj Finserv to invest ₹5,000 crore in Pune, a move expected to create around 40,000 job opportunities.
  • The agreement was formalized between Harshdeep Kamble, the Industry Secretary of Maharashtra, and S. Sreenivasan, the Chief Financial Officer of Bajaj Finserv.
  • This development is anticipated to have a positive impact by generating new jobs and business prospects for partners, vendors, suppliers, and contractors in Pune and beyond.

Banking & Finance

7. SEBI Introduces Bond Trading Guidelines for RFQ Platform

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  • The Securities and Exchange Board of India (SEBI) has issued guidelines for corporate bond transactions through the Request for Quote (RFQ) platform by stock brokers, with implementation starting on July 1, 2023.
  • Stock brokers are required to undertake a minimum of 10% of their total secondary market trades by value in corporate bonds in that month through one-to-one or one-to-many quotes for all proprietary trades.
  • By April 2024, this percentage will be increased to 25%, aiming to enhance liquidity on the platform.

National & International Organizations

8. The Impact Ranking 2023 Reveals Top-Performing Universities

  • As per the ‘Times Higher Education Impact Rankings 2023,’ Amrita Vishwa Vidyapeetham in Coimbatore has emerged as India’s highest-ranked university.
  • Globally, the university secured the 52nd position out of 1,591 universities.
  • The top positions were claimed by Western Sydney University, followed by the University of Manchester (UK), Queen’s University (Canada), Universiti Sains Malaysia, and the University of Tasmania.
  • Amrita Vishwa Vidyapeetham was particularly recognized for its efforts in achieving the United Nations Sustainable Development Goals (UNSDGs).

Banking & Finance

9. Karbon Card Launches India’s First Mobile-Based Expense Management Card

  • Karbon Card has introduced a mobile-based expense management card for both businesses and individuals, offering uncapped cashback of up to 1%.
  • The Card ++ stands out by providing enticing cashback incentives to encourage spending.
  • It offers versatile payment options on various platforms such as Google, Amazon, Swiggy, and Ola, enhancing its appeal to users.
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