4th June 2021 Current Affairs

GK Update of 04th  June 2021 masking the next information headlines: RBI Monetary Policy, Sandhayak, Asian Development Bank, FIH world rankings, Wipro, Bharti AXA Life.

National News

1. Union Cabinet approves MoC between India-Japan on city growth

• The Union Cabinet has authorized a memorandum of cooperation between India-Japan within the discipline of sustainable city growth.
• A Memorandum of Cooperation (MoC) on Sustainable Urban Development has been signed between the Ministry of Housing & Urban Affairs, Government of India and the Ministry of Land, Infrastructure, Transport and Tourism, Government of Japan.
• A Joint Working Group (JWG) will probably be additionally fashioned to implement the programmes on cooperation below the Memorandum of Cooperation (MoC). The JWG will meet annually.
• The MoC will strengthen the technical cooperation within the discipline of Urban Planning, Smart Cities Development, Affordable Housing (together with rental housing), Urban Flood Management, Sewerage and Waste Water Management, and so forth.
• The greatest practices and key learnings will probably be exchanged between India and Japan within the discipline of Sustainable Urban Development.

Important takeaways for all aggressive exams:

• Japan Capital: Tokyo;
• Japan Currency: Japanese yen;

International News

2. China developed a mixed air defence system alongside LAC

• China has created a mixed air defence system alongside the Line of Actual Control (LAC). The mixed air defence system has been developed with the weather of the air drive and military of western theatre command.
• For the primary time, an built-in military air defence system has been developed by china alongside the western borders.
• The mixed air defence system has been developed for placing all property of the military and air drive below central management. Since 2017, China has elevated the variety of airbases and heliports close to the LAC.

State News

3. Narendra Singh Tomar inaugurates Indus Best Mega Food Park in Chhattisgarh

• Union Minister for Food Processing Industries, Narendra Singh Tomar just about inaugurated the Indus Best MegaFood Park together with Bhupesh Baghel, Chief Minister, Chhattisgarh, and in presence of Rameswar Teli, Union Minister of State for Food Processing Industries.
• The Mega Food Park will guarantee worth addition, an extended shelf life for farm produce, higher value realization for farmers, glorious storage facility and can present an alternate marketplace for farmers within the area.
• The Park can even present direct and oblique employment to about 5,000 individuals and profit about 25,000 farmers within the CPC and PPC catchment areas.
• The trendy infrastructure for meals processing created at Park will profit the processors and customers of Chhattisgarh and adjoining areas immensely and show to be a giant increase to the expansion of the meals processing sector within the State of Chhattisgarh.

Important takeaways for all aggressive exams:

• Chief Minister of Chhattisgarh: Bhupesh Baghel; Governor: Anusuiya Uikey.

Agreement News

4. IPPB ties up with Mahindra Rural Housing Finance for money administration resolution

• Mahindra Rural Housing Finance Limited (MRHFL), a subsidiary of Mahindra and Mahindra Financial Ltd, and India Post Payments Bank (IPPB) have tied up a strategic partnership for a money administration resolution.
• As a part of the tie-up, IPPB will probably be providing money administration and assortment companies to MRHFL by way of its entry factors and postal service suppliers.
• Mahindra Rural Housing Finance stated in a press release, including that with the money administration service, its clients will be capable of repay their month-to-month or quarterly mortgage instalments at over 1.36 lakh submit workplaces.
• Cash administration being the lifeline of enterprise operations, IPPB with its sturdy community and expertise platform may help corporates to handle their receivables safely, securely and seamlessly.

Important takeaways for all aggressive exams:

• MD and CEO of India Post Payments Bank (IPPB): J Venkatramu.
• India Post Payments Bank (IPPB) Headquarters: New Delhi.

5. Bharti AXA Life in bancassurance pact with Shivalik Small Finance Bank

• Private life insurer Bharti AXA Life Insurance has entered right into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance coverage merchandise by way of the financial institution’s pan-India community of branches.
• This alliance is part of the financial institution’s numerous measures in direction of monetary inclusion and acceleration of wealth creation for its clients.
• Bharti AXA Life Insurance will supply its suite of life insurance coverage merchandise, together with safety, well being, financial savings and funding plans, to clients of Shivalik Small Finance Bank throughout its 31 branches and digital community throughout the nation.
• This alliance will allow over 4.5 lakh clients of Shivalik Bank to entry the vary of merchandise provided by the corporate to offer monetary safety.

Important takeaways for all aggressive exams:

• MD and CEO of Bharti AXA Life Insurance: Parag Raja;
• Bharti AXA Life Insurance Founded: 2005.

6. ADB and India signed an settlement for street up-gradation challenge in Sikkim

• The Asian Development Bank and the Government of India signed an settlement for financing street up-gradation challenge in Sikkim.
• ADB will give a $2.5 million challenge readiness financing (PRF) mortgage to help tasks associated to upgradation of main district roads in Sikkim. It will enhance the connectivity and likewise increase the financial actions within the state.
• The challenge readiness nancing (PRF) will assist in connecting the key district and different roads with the nationwide and state freeway community.
• In 2011, the ADB-funded North Eastern State Roads Investment Program was launched to enhance street connectivity in Sikkim.
• The state companies will put together detailed engineering designs of chosen sub-projects and do feasibility research. Sikkim’s street community requires common up-gradation on account of frequent landslides and erosion.

Important takeaways for all aggressive exams:

• ADB is a regional growth financial institution established in 1966;
• ADB Members: 68 nations (49 members are from Asia pacific area);
• ADB is headquartered in Mandaluyong, Philippines;
• Masatsugu Asakawa is the present president of ADB.

Ranks and Reports News

7. Kerala retains high rank in Niti Aayog’s third SDG India Index 2020-21

• Kerala has retained the highest rank in Niti Aayog’s third version of SDG India Index 2020-21, whereas Bihar has been adjudged because the worst performer.
• The Index for Sustainable Development Goals (SDGs) evaluates the progress of states and union territories on social, financial and environmental parameters.
• Kerala retained its rank as the highest state with a rating of 75.
• The third rendition of India’s SDG Index was launched by Niti Aayog Vice Chairman Rajiv Kumar on third June.

Important takeaways for all aggressive exams:

• NITI Aayog Formed: 1 January 2015.
• NITI Aayog Headquarters: New Delhi.
• NITI Aayog Chairperson: Narendra Modi.

8. Wipro turns into third Indian IT agency to scale Rs 3 trillion market cap

• Wipro has touched Rs 3 trillion in market capitalisation for the primary time, changing into the third Indian IT agency to attain the milestone after Tata Consultancy Services and Infosys.
• The firm gained its largest deal ever from German retailer Metro and has seen deal wins of $7.1 billion. India has a complete of 13 listed companies which have crossed the Rs 3 trillion m-cap. Wipro now ranks 14th.
• Reliance Industries is India’s most valued firm with a market capitalisation of ₹14.05 trillion, adopted by Tata Consultancy Services Ltd and HDFC Bank with an m-cap of ₹11.58 trillion and ₹8.33 trillion, respectively.

Important takeaways for all aggressive exams:

• Chairman of Wipro Limited: Rishad Premji.
• Wipro Headquarters: Bengaluru;
• Wipro MD and CEO: Thierry Delaporte.

Economy News

9. RBI Governor Addressed On RBI Monetary Policy 2021

• The six-member financial coverage committee of the Reserve Bank of India (RBI) headed by Governor Shaktikanta Das, has determined to maintain key lending charges unchanged for the sixth consecutive time, in its June 2021 coverage overview assembly held between June 2 to 4, 2021.
• The RBI’s Monetary Policy Committee (MPC) has determined to proceed with an accommodative stance till essential to mitigate the affect of COVID-19. The subsequent assembly of the MPC is scheduled from August 4 to six, 2021.

The Marginal Standing Facility (MSF) charge and financial institution charges stay unchanged: 

• Policy Repo Rate: 4.00%
• Reverse Repo Rate: 3.35%
• Marginal Standing Facility Rate: 4.25%
• Bank Rate: 4.25%
• CRR: 4%
• SLR: 18.00%

RBI Monetary Policy Highlights & Key Decisions:

• The RBI additionally downgraded the GDP progress forecast for FY22 to 9.5 per cent in contrast with 10.5 per cent earlier. 
• On the opposite hand, progress is a much bigger concern. The Gross Domestic Product (GDP) contracted 7.3 per cent in FY21.
• Recently, SBI economists had sharply reduce their FY22 GDP progress estimates to 7.9 per cent from what was 10.4 per cent earlier.
• The Reserve Bank of India Governor Shaktikanta Das introduced a projection for Consumer Price Index (CPI) inflation at 5.1 per cent for FY 2021-22.
• G-SAP 2.0 price ₹1.2 lakh crore will probably be taken within the second quarter of FY22 to help the market.
• The rupee snapped its three-day dropping streak and closed 18 paise larger at 72.91 towards the US greenback.

Defence News

10. Navy’s Hydrographic Survey Ship Sandhayak To Be Decommissioned

• Indian Navy’s hydrographic survey ship, Sandhayak could be decommissioned after serving the nation for 40 years.
• The decommissioning ceremony of INS Sandhayak will probably be held at naval dockyard Visakhapatnam and will probably be a low-key occasion attended solely by in-station officers and sailors with strict observance of COVID-19 protocols.
• The ship, throughout its commissioned service, undertook roughly 200 main hydrographic surveys and quite a few minor surveys in each east and west coasts of the nation, the Andaman seas in addition to within the neighbouring nations.

Sports News

11. FIH world rankings: Indian males’s workforce preserve 4th place

• In Hockey, the Indian males’s workforce maintained their fourth place whereas the ladies’s workforce held to the ninth place within the newest International Hockey Federation world rankings.
• Despite lacking the European leg of the FIH Hockey Pro- League collection in Great Britain, Spain and Germany in April and May, the Indian males’s workforce maintained its fourth spot.

Important Days

12. International Day of Innocent Children Victims of Aggression: 04 June

• International Day of Innocent Children Victims of Aggression is noticed globally on 4th June yearly.
• This day affirms the UN’s dedication to protect the rights of youngsters. This day is to acknowledge the ache suffered by kids all through the planet who’re the victims of bodily, psychological and emotional abuse.
• The primary purpose of celebrating at this time is to unfold the discover in regards to the ache and sufferings confronted by the victims as kids.
• On August 19, 1982, throughout an emergency session on the query of Palestine, the UN General Assembly, appalled on the quantity of harmless Palestinian and Lebanese youngster victims of Israel’s acts of aggression, determined to commemorate 4 June of yearly due to the International Day of Innocent Children Victims of Aggression.

Obituaries News

13. Mauritius former prime minister Sir Anerood Jugnauth passes away

• The former Prime Minister and President of the Republic of Mauritius, Sir Anerood Jugnauth handed away.
• He is the nation’s longest-serving prime minister with greater than 18 years of tenure. He was thought-about the father of the Mauritian financial miracle of the Nineteen Eighties.
• Jugnauth held the submit of Prime Minister between 1982 and 1995, then once more between 2000 and 2003, and later between 2014 and 2017, earlier than passing the torch to his son, Pravind Jugnauth, who’s the present Prime Minister of Mauritius.

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