Daily Current Affairs 7th June 2024

State News

Uttarakhand Unveils India’s First Astro-Tourism Initiative

• The Uttarakhand government hosted India’s inaugural astro-tourism event, ‘Nakshatra Sabha,’ in Mussoorie, also known as the ‘Queen of Hills,’ on June 1 and 2, 2024.
• The event took place at George Everest Peak, which is renowned for its stunning views of the Doon Valley and the Himalayan mountains.

Banking News

SBI Mutual Fund Becomes First to Exceed Rs 10 Trillion in Assets Under Management

• SBI Mutual Fund (SBI MF) reached a historic milestone on Monday, becoming the first fund house in India to surpass Rs 10 trillion in assets under management (AUM).
• This achievement is attributed to the equity boom following the pandemic and increased awareness of mutual fund investments.

RBI Absorbs ₹44,430 Crore Through VRRR Auctions

• The Reserve Bank of India (RBI) conducted two variable rate reverse repo (VRRR) auctions totaling ₹44,430 crore to absorb excess liquidity from the banking system.
• Although the central bank was prepared to absorb up to ₹1 lakh crore, banks utilized only a portion of the available amount.

RBI Monetary Policy June 2024, Repo Rate Unchanged at 6.5%

• RBI Governor Shaktikanta Das announced that the Monetary Policy Committee decided to keep the policy repo rate at 6.5%, with a 4:2 majority decision.
• Consequently, the standing deposit facility (SDF) rate remains at 6.25%, while both the marginal standing facility (MSF) rate and the bank rate remain at 6.75%.

RBI Repo Rate Details:

• Policy Repo Rate: 6.50% (Unchanged)
• Standing Deposit Facility (SDF): 6.25% (Unchanged)
• Marginal Standing Facility Rate: 6.75% (Unchanged)
• Bank Rate: 6.75% (Unchanged)
• Fixed Reverse Repo Rate: 3.35% (Unchanged)
• CRR: 4.50% (Unchanged)
• SLR: 18.00% (Unchanged)

Agreements News

MeitY and UNESCO Host National Workshop on Safe, Trusted, Ethical AI

• The United Nations Educational, Scientific and Cultural Organization (UNESCO) South Asia Regional Office, in collaboration with the Ministry of Electronics and Information Technology (MeitY), Government of India, organized the National Stakeholder Workshop on Safe, Trusted, and Ethical AI at the Taj Palace Hotel, New Delhi.
• This event follows the approval of the IndiaAI Mission by the Government of India, with a significant allocation exceeding Rs 10,000 crore to enhance India’s AI ecosystem.

Muthoot Microfin and SBI Collaborate to Empower Rural Women Entrepreneurs

• Muthoot Microfin Limited has entered into a strategic co-lending partnership with the State Bank of India (SBI) to bolster financial inclusion.
• This collaboration aims to provide financial services to women entrepreneurs in rural and semi-urban areas across India.
• Both entities will co-lend to Joint Liability Groups (JLGs) involved in agriculture, allied activities, and other income-generating enterprises, with loan amounts ranging from Rs 10,000 to Rs 3,00,000.

Business News RIL to Develop Global Economic Hub in Navi Mumbai

• Reliance Industries Limited (RIL) is set to develop a global economic hub in Navi Mumbai, having secured sub-leases on approximately 3,750 acres of land for Rs 13,400 crore.
• The lease spans 43 years and is based on a memorandum of understanding signed with the Maharashtra government in 2018.

Summits and Conferences News 3rd Indian Analytical Congress Explores ‘Green Transitions’

• Analytical science, which involves the art of measurement and its interpretation, focuses on improving methods for measuring the chemical composition, structure, and morphology of both natural and man-made substances.
• The 3rd Indian Analytical Congress explored themes related to ‘Green Transitions.’

Schemes News Over 1 Lakh Farmers Voluntarily Gave Up Their PM-Kisan Benefits Last Year (2023)

• Bihar, Uttar Pradesh, and Rajasthan lead the chart of 1.16 lakh farmers who voluntarily gave up the benefits of the annual Rs 6,000 Pradhan Mantri Kisan Samman Nidhi (PM-Kisan) scheme from June 2023 to May 2024.
• The Ministry of Agriculture & Farmers Welfare introduced a module in the PM-Kisan mobile app and website last year that enables farmers to voluntarily exit the scheme.

Awards News C-DOT Wins UN WSIS Award for Disaster Resilience Technology

• The Centre for Development of Telematics (C-DOT), established on August 24, 1984, by the Government of India, is a premier telecom research and development center.
• It aims to revolutionize India’s telecom sector by developing cutting-edge technologies and products tailored to Indian conditions.

Nar Singh, Rohini Lokhande Win Dilip Bose Lifetime Achievement Award

• The All India Tennis Association (AITA) has announced the Dilip Bose Award for lifetime achievement to coach Nar Singh.
• The first award will be presented to 69-year-old Rohini Lokhande, who was a member of the national team along with Kiran Bedi, Nirupama Mankad, Susan Das, and Udaya Kumar, before she began coaching at a young age.

Science and Technology News Nvidia Surpasses Apple to Become Second Most Valuable Company

• Nvidia’s remarkable rally to record highs on Wednesday saw the artificial intelligence chipmaker’s valuation soar past the $3 trillion mark, surpassing Apple and securing its position as the world’s second most valuable company.
• This marks a significant shift from Silicon Valley’s traditional dominance by Apple, particularly since the iPhone’s launch in 2007.

Sports News Rohit Sharma Rewrites Cricket Records at 9th ICC T20 World Cup

• The Indian cricket team, led by captain Rohit Sharma, began their campaign at the 9th ICC T20 World Cup with an emphatic 8-wicket victory over Ireland.
• The match, played at the Nassau County International Cricket Stadium in New York, USA, saw Jasprit Bumrah’s exceptional bowling performance of 2 for 6 runs earn him the ‘Man of the Match’ award.

Important Days

World Food Safety Day 2024: Date, History, and Theme

• World Food Safety Day is celebrated annually on June 7th to raise awareness about the importance of food safety and promote actions to prevent, detect, and manage foodborne risks.
• This day highlights the critical role of food safety in ensuring access to safe, nutritious, and sufficient food for everyone.
• The theme for World Food Safety Day 2024 is “Food Safety: Prepare for the Unexpected.”