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 Current Affairs by Kush Pandey: June 4 2024
B. Rs 21.43 trillion
C. Rs 15.33 trillion
D. Rs 13.15 trillion
E. Rs 20.45 trillion
Ans: E

Banking & Finance

1. DBS retains India GDP growth forecast at 7%
for FY24-25
 Prediction by: DBS Bank (Singapore-
headquartered)
Revision Questions
 India’s economic growth Prediction:
1. In June 2024, Canara Bank has diluted __________
 April -June 2024: 7%
stake in Canara HSBC Life Insurance via Initial Public
Offering.  2024-25: 7%
A. 14.50%  Fiscal Deficit: 5.1% in FY25 and 4.5% in FY26
B. 25%  Reserve Bank of India (RBI) announced
C. 26.12% divided: Rs 2.1 lakh crore
D. 19.11%  Budgeted Fiscal Deficit: 5.1 per cent
E. 10%  Goldman Sachs – 6.7% (FY24)
Ans: A  UN – 6.9% (FY24), 6.6% (FY25)
 Moody’s – 6.6% (FY25)
2. In June 2024, which of the following banks has
launched NFC Soundbox in association with the  India Ratings – 7.1% (FY25)
Mastercard, to enable users to accept various  OECD – 6.6%(FY25), 6.6%(FY26)
payment methods such as Bharat QR, UPI, Tap & Pay,  Fitch Rating –7% (FY25)
and Tap + Pin?  SBI – 8% (FY25)
A. ICICI Bank  World Bank – 6.6% (FY25), 6.5% (FY26)
B. Axis Bank  NCAER – over 7% (FY25)
C. Bank of India  Deloitte – 6.6% (FY25)
D. YES Bank
 NIPFP – 7.1% (FY25)
E. HDFC Bank
Ans: B  IMF – 6.8% (FY25), 6.5% (FY26)
2. Axis Bank, Bajaj Allianz forge strategic
3. India would grow at ________ in 2025, predicted by bancassurance partnership
the renowned rating agency, Moody's.  Partnership between: Axis Bank and Bajaj
A. 6.5%
Allianz
B. 6%
C. 7.1%  Type: Bancassurance
D. 6.9%  Aim: To boost insurance penetration and
E. 6.2% financial inclusion in the country.
Ans: A  Bancassurance is an insurance distribution
model where companies partner with banks
4. In June 2024, according to the Reserve Bank of to sell policies.
India (RBI), the bank credit grows at _______ in April  Recently, Federal Bank and Tata AIA Life
2024. Insurance Announce Strategic Bancassurance
A. 16.2% Partnership
B. 15.3%
C. 16.4% 3. ₹2,000 banknotes in circulation declined to
D. 15.7% ₹7,755 cr as on May 31, 2024
E. 16.6%  Context: The Reserve Bank of India informed
Ans: B that 97.82% of the ₹2,000 banknotes in
circulation as on May 19, 2023, have been
5. According to the National Payments Corporation of returned till May 31, 2024.
India (NPCI), the Unified Payment Interface (UPI)
 Only Rs 7,755 crore worth of the withdrawn
transactions clocked a new high in value by
notes are still with the public.
processing 14.04 billion transactions worth __________,
in May 2024.
A. Rs 10.25 trillion
 Current Affairs by Kush Pandey: June 4 2024
 The RBI announced the withdrawal of Rs 6. Adani One launches two variants of co-branded
2,000 denomination banknotes from credit cards with ICICI Bank
circulation on May 19, 2023.  Partnership Between: Adani One and ICICI
 The Rs 2,000 banknotes were introduced in Bank
November 2016, following the  Card network: Visa
demonetisation of the then-prevailing Rs  Reason: To launch two variants of co-branded
1000 and Rs 500 banknotes. credit cards
 Available in two variants: (1) Adani One ICICI
4. Universal Sompo launches ‘insure today for Bank Signature Credit Card and (2) Adani One
a safe tomorrow’ campaign
ICICI Bank Platinum Credit Card
 Name of Campaign: Insure today for a safe
 Cardholders can get up to 7% Adani reward
tomorrow
points on spends within the Adani Group
 Launched by: Universal Sompo General
ecosystem.
Insurance
 Aim: To raise awareness about the 7. All India Bank Employees' Association
importance of insurance in safeguarding (AIBEA) has launched the "Bank Clinic"
against unforeseen risks.  Launch of: Bank Clinic
 Universal Sompo offers motor, health,  Launched by: All India Bank Employees'
personal accident, fire, and burglary Association (AIBEA)
insurance.  Aim: To assist bank customers with grievance
 It is dedicated to ensuring comprehensive redressal amid the rapid expansion of
protection for individuals, assets, and technology and Reserve Bank of India (RBI)
businesses alike. guidelines on retail banking.
 As part of an initiative called ‘Insurance for  It is a non-resolving advisory platform
All by 2047,’ Universal Sompo collaborated guiding customers on the remedies available
with Maruti Suzuki Insurance Broking to per RBI guidelines.
spread insurance awareness in Andhra  It serves as an additional channel alongside
Pradesh. the normal Banking Ombudsman process.
 Under the theme ‘Insure today for a safe  How does it work?
tomorrow,’ a free vehicle checkup was  Under this initiative, customers can register
provided at Krishna district in Andhra their complaints on the Bank Clinic website.
Pradesh.  Within five working days, they will receive a
 Universal Sompo: reply detailing the available remedies and
 Headquartered in Mumbai relevant RBI guidelines for their specific issue
 It is a Joint venture of Indian Bank, Indian  The goal is to ensure timely and effective
Overseas Bank, Karnataka Bank, Dabur redressal of customer issues.
Investments, and Sompo Japan Insurance Inc.  It guides customers on available remedies but
does not directly resolve queries.
5. Sebi introduces 'Saarthi 2.0' mobile app on
personal finance for investors 8. Tata AIA Life launches Midcap Momentum
 Launch of: Saarthi 2.0 (Mobile Application) Index Fund
 Launched by: SEBI (Capital Market  Launch of: Midcap Momentum Index Fund
Regulator)  Launched by: Tata AIA Life
 Aim: To simplify complex financial concepts  Aim: To invest in high-growth mid-sized
 Features: Personal finance for investors with companies in India.
comprehensive tools  It tracks a specific list of the top 50 such
 The app includes financial calculators and has companies (based on their recent
modules that introduce and explain KYC performance) within a larger group of 150
procedures, mutual funds, ETFs, buying and mid-sized companies.
selling shares on stock exchanges, investor  The New Fund Offering (NFO) window will
grievances redressal mechanism, and the remain open until June 15 at a NAV of Rs 10
Online Dispute Resolution (ODR) platform. per unit.
 Additionally, the app features a range of  Fund Composition:
videos designed to assist investors in their  80%-100% in equity and equity-related
personal finance planning. instruments,
 Current Affairs by Kush Pandey: June 4 2024
 0%-20% in cash, and money market Service, Transactional Calls
securities  Context: The Centre has introduced a new
 Fund Management Charges: numbering series, 160xxxxxxx, for service
 This is the annual fee that the fund charges to and transactional calls to help citizens
manage your investment. identify legitimate calls and reduce
 Here, it's 1.20% of your total investment unsolicited telemarketing calls.
amount per year.  Aim: To help citizens easily identify
 Risk Profile: legitimate calls and curb unsolicited voice
 This indicates how volatile the investment is. calls from telemarketers using 10-digit
 "High" risk means the fund's value has the mobile numbers.
potential to fluctuate significantly, with  Currently, the 140xxxxxxx series is allocated
chances of high returns but also high to telemarketers for promotional, service,
potential losses. and transactional calls.
 Implementation:
9. PNB partners with IIFCL to provide financing  Telecom Service Providers (TSP) are
for infrastructure projects required to ensure thorough verification of
 Partnership between: Punjab National Bank each entity before assigning a number from
(PNB) and India Infrastructure Finance the 160 series.
Company Ltd
 Entities must use these numbers solely for
 Aim: To offer long-term financial assistance service and transactional calls.
to viable infrastructure projects.
 For example, calls from financial entities such
International as RBI, SEBI, PFRDA, and IRDA will start from
1. Gautam Adani Reclaims the Title of Asia’s 1601.
Richest Person  Purpose:
 Report by: Bloomberg Billionaires Index  The introduction of the 160 series aims to
 Released date: 3rd June 2024 prevent fraudsters from deceiving consumers
 World's richest person: Bernard Arnault using regular 10-digit numbers and ensure
 Asia's richest person: Gautam Adani ($111B; that important calls are not missed.
11th rank)
2. FSSAI directs FBOs to remove claim of 100%
 Rank of Mukesh Ambani: 12th rank ($109B
Fruit Juices from the label and advertisement of
net worth) fruit juices
2. World Headed For 2.7° C Warming, Finance  Directive: All Food Business Operators
Deal Key: UN Climate Head (FBOs) to remove any claim of ‘100% fruit
 The United Nations Climate head Simon Stiell juices’ from the labels and advertisements of
has warned that the world is headed for 2.7 reconstituted fruit juices with an immediate
degrees Celsius warming. effect.
 The road to keeping it to 1.5 degrees Celsius  Directive issued by: Food Safety and
is extremely steep. Standards Authority of India (FSSAI)
 He was speaking at the Bonn Climate Change  All the FBOs have also been instructed to
Conference in Germany. exhaust all existing pre-printed packaging
 The Bonn meeting from June 3 to 13 is materials before 1st September 2024.
known as halfway to the annual climate  According to the Food Safety and
summit, also known as the 29th Conference Standards (Advertising and Claims)
of Parties, or COP29. Regulations, 2018, there is no provision for
 It is expected to set the agenda for climate making a ‘100%’ claim.
negotiations this year and will open  Such claims are misleading,
discussions on a new finance goal to replace particularly under conditions where the
the existing goal of 100 billion dollars per major ingredient of the fruit juice is water and
year. the primary ingredient, for which the claim is
 The new finance goal is meant to channel made, is present only in limited
greater funds toward urgently needed concentrations, or when the fruit juice is
climate action in developing countries. reconstituted using water and fruit
National concentrates or pulp.
1. Centre Launches New Mobile Number Series for
 Current Affairs by Kush Pandey: June 4 2024
 Additionally, if added nutritive sweeteners  Aim: To encourage consumers to install
exceed 15 gm/kg, the product must be residential solar rooftop solutions.
labelled as ‘Sweetened juice’.
2. Haryana government to launch Rs 10,000-
3. Supreme Court Reconstitutes Gender crore project to combat air pollution
Sensitisation Committee  Launch of: A project to combat air pollution
 The Supreme Court of India has reconstituted  State: Haryana
its Gender Sensitisation and Internal  Status: It will soon roll out
Complaints Committee, appointing Justice  Amount: Rs 10,000-crore
Hima Kohli as Chairperson and Justice BV  Funded by: World Bank
Nagarathna as a Member.  Tenure: 10 years
 In accordance with the Gender Sensitisation  The Haryana Clean Air Project for Sustainable
and Sexual Harassment regulations of 2013. Development will be implemented in the
MoUs state in a phased manner with the first phase
1. Japan Airline signs new codeshare pact with being implemented in the districts falling in
Indigo the National Capital Region (NCR) and
 Agreement between: Japan Airline and Indigo replication in entire state later.
 Type: Codeshare Pact  The announcement was made in a meeting of
 Codesharing allows an airline to book its the governing committee of Haryana Clean
passengers on its partner carriers and Air Project for Sustainable Development held
provide seamless travel to destinations under the chairmanship of the chief
where it has no presence. secretary.
 The two airlines will commence the pact on 3. New Blue Ant Species Discovered in Eastern
India’s domestic routes which connect to JAL- Himalayas
operated flights to and from Delhi and  Discovery of: Paraparatrechina neela (New
Bengaluru. Species)
 The planned codeshare routes which are  It is an important addition to the genus
subject to government approval are eyeing a Paraparatrechina.
schedule of winter 2024.  It is the first species of its kind to be found in
 Currently, it operates daily services between the Indian subcontinent in more than one
Tokyo Haneda – Delhi, and from Tokyo’s hundred years.
Narita to Bengaluru three times a week.  Location: Siang Valley of Arunachal Pradesh
2. School Education Department Signs MoU With  A group of entomologists from the University
National Book Trust of Florida in the USA and the Ashoka Trust for
 Signed between: School Education Research in Ecology and the Environment
Department and National Book Trust (ATREE) in Bengaluru, India
 Reason: To create an institutional framework  Paraparatrechina neela is less than 2 mm long
for the Digital Library Platform, Rashtriya e- and has a mostly shiny blue body, which
Pustakalaya. makes it different from most of the 16,724
known species of ants, which don’t usually
States have blue bodies.
1. Tata Power Solar System launches nationwide  Its head is subtriangular, has big eyes, and a
solar power drive from Jodhpur triangular jaw with five teeth.
 Name of Campaign: '#GharGharSolar, Tata
Power ke Sangh' Important Dates
 Launched by: Tata Power Solar Systems Ltd 1. World Bicycle Day 2024 observed on June 3
(TPSSL)  The idea of World Bicycle Day was proposed
 Location: Jodhpur, Rajasthan by Polish-American social scientist Professor
 The city has earned a sobriquet of Sun City Leszek Sibilski, who initiated a grassroots
Jodhpur due to the large number of sunny campaign to get the United Nations on board.
Appointments
days in a year.
1. Eminent Puppeteer Padma Maguni Kuanr
 The scheme was launched by Praveer Sinha Passes Away
CEO and MD Tata Power in the presence of  In Odisha, Padma Shri Maguni Charan Kuanr,
Deepesh Nanda, CEO & MD, TPREL. passed away.
 Current Affairs by Kush Pandey: June 4 2024
 Kuanr was conferred Padma Shri by 4. Dinesh Karthik Announces Retirement from
President Droupadi Murmu last year for his Representative Cricket
lifelong contribution to the field of art for  Dinesh Karthik, the veteran wicketkeeper-
keeping alive the dying art of rod puppetry batter, announced his retirement from all
and promoting the traditional rod puppet forms of cricket.
dance.  Karthik’s international career spanned 180
games across all three formats, where he
Sports amassed 3463 runs, including a solitary Test
1. Real Madrid confirm signing of Mbappe in five- hundred and 17 half-centuries.
year deal
 The newly crowned champions of Europe, News Connector
Real Madrid, announced that they have
signed star France striker Kylian Mbappe in a  DBS = retains = India = GDP = growth =
five-year deal. forecast = at = 7% = for = FY24-25
 The monetary aspects of the deal remain a  Axis = Bank, = Bajaj = Allianz = forge =
secret and open to speculation. strategic = bancassurance = partnership
 Note:  ₹2,000 = banknotes = in = circulation =
declined = to = ₹7,755 = cr = as = on = May =
 Wembley Stadium, Real Madrid etched their
31, = 2024
name in the history books once again by
securing a record-extending 15th UEFA  Universal = Sompo = launches = ‘insure =
Champions League title. today = for = a = safe = tomorrow’ = campaign
 Sebi = introduces = 'Saarthi = 2.0' = mobile =
2. India batsman Kedar Jadhav announces app = on = personal = finance = for = investors
retirement from international cricket  Adani = One = launches = two = variants = of
 India and Maharashtra batter Kedar Jadhav, = co-branded = credit = cards = with = ICICI =
who debuted in 2014 and played 73 ODIs and Bank
9 T20Is, announced his retirement from  All = India = Bank = Employees' = Association
international cricket. = (AIBEA) = has = launched = the = "Bank =
 He is known for his association with MS Clinic"
Dhoni  Tata = AIA = Life = launches = Midcap =
 Jadhav is captaining Kolhapur Tuskers in Momentum = Index = Fund
a league, with achievements including a  PNB = partners = with = IIFCL = to = provide
notable century against England in 2017. = financing = for = infrastructure = projects
3. Indian Athletes Shine at Taiwan Athletics  Gautam = Adani = Reclaims = the = Title = of
Open 2024 = Asia’s = Richest = Person
 Nayana James, an Asian Athletics  World = Headed = For = 2.7° = C = Warming,
Championships bronze medalist, etched her = Finance = Deal = Key: = UN = Climate = Head
name in glory by clinching the gold medal in  Centre = Launches = New = Mobile = Number
the women's long jump event at the Taiwan = Series = for = Service, = Transactional =
Athletics Open 2024. Calls
 Nayana recorded an impressive distance of  FSSAI = directs = FBOs = to = remove = claim
6.43m to secure the top spot on the podium. = of = 100% = Fruit = Juices = from = the =
 Ankesh Chaudhary won the gold medal in the label = and = advertisement = of = fruit =
men’s 800m race, clocking an impressive juices
1:50.63, outpacing compatriot Somnath  Supreme = Court = Reconstitutes = Gender =
Chauhan, who claimed the silver medal. Sensitisation = Committee
 Dev Meena secured the silver medal in the  Japan = Airline = signs = new = codeshare =
men’s pole vault event with a height of 5.10m. pact = with = Indigo
 In the men’s javelin throw, DP Manu clinched  School = Education = Department = Signs =
the gold medal. MoU = With = National = Book = Trust
 Nithya Ramraj won the silver medal in the  Tata = Power = Solar = System = launches =
women’s 100m hurdles. nationwide = solar = power = drive = from =
 Vismaya VK bagged the bronze medal in the Jodhpur
women’s 400m race.
 Current Affairs by Kush Pandey: June 4 2024
 Haryana = government = to = launch = Rs =  Real = Madrid = confirm = signing = of =
10,000-crore = project = to = combat = air = Mbappe = in = five-year = deal
pollution  India = batsman = Kedar = Jadhav =
 New = Blue = Ant = Species = Discovered = in announces = retirement = from =
= Eastern = Himalayas international = cricket
 World = Bicycle = Day = 2024 = observed = on  Indian = Athletes = Shine = at = Taiwan =
= June = 3 Athletics = Open = 2024
 Claudia = Sheinbaum = Elected = As = First =  Dinesh = Karthik = Announces = Retirement =
Woman = President = Of = Mexico from = Representative = Cricket

NOTES PRO BY KUSH PANDEY

Current Affairs by Kush Pandey: June 4 2024
Current Affairs by Kush Pandey: June 4 2024
Current Affairs by Kush Pandey: June 4 2024