04th June 2021 Daily GK Update: Read Daily GK, Current Affairs for Bank Exam

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Here is the Daily GK Update of 04th June 2021 covering the following news headlines: RBI Monetary Policy, Sandhayak, Asian Development Bank, FIH world rankings, Wipro, Bharti AXA Life.

Daily GK updates are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily GK Update is the complete bag of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the GK update of 04th June 2021 to help you prepare the Current affairs part. After reading this section, you can successfully attempt Current Affairs Quiz.

Top 13 Daily GK Updates: National & International News

Here is providing below the top 13 important Daily General Knowledge GK 2021 updates with national & international news

National News

1. Union Cabinet approves MoC between India-Japan on urban development

The Union Cabinet has approved a memorandum of cooperation between India-Japan in the field of sustainable urban development.
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 be also formed to implement the programmes on cooperation under the Memorandum of Cooperation (MoC). The JWG will meet once a year.
The MoC will strengthen the technical cooperation in the field of Urban Planning, Smart Cities Development, Affordable Housing (including rental housing), Urban Flood Management, Sewerage and Waste Water Management, etc.
The best practices and key learnings will be exchanged between India and Japan in the field of Sustainable Urban Development.

Important takeaways for all competitive exams:

Japan Capital: Tokyo;
Japan Currency: Japanese yen;

International News

2. China developed a combined air defence system along LAC

China has created a combined air defence system along the Line of Actual Control (LAC). The combined air defence system has been developed with the elements of the air force and army of western theatre command.
For the first time, an integrated army air defence system has been developed by china along the western borders.
The combined air defence system has been developed for putting all assets of the army and air force under central control. Since 2017, China has increased the number of airbases and heliports near 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 virtually inaugurated the Indus Best MegaFood Park along 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 ensure value addition, a longer shelf life for farm produce, better price realization for farmers, excellent storage facility and will provide an alternate market for farmers in the region.
The Park will also provide direct and indirect employment to about 5,000 persons and benefit about 25,000 farmers in the CPC and PPC catchment areas.
The modern infrastructure for food processing created at Park will benefit the processors and consumers of Chhattisgarh and adjoining areas immensely and prove to be a big boost to the growth of the food processing sector in the State of Chhattisgarh.

Important takeaways for all competitive exams:

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

Agreement News

4. IPPB ties up with Mahindra Rural Housing Finance for cash management solution

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 cash management solution.
As part of the tie-up, IPPB will be offering cash management and collection services to MRHFL through its access points and postal service providers.
Mahindra Rural Housing Finance said in a statement, adding that with the cash management service, its customers will be able to repay their monthly or quarterly loan instalments at over 1.36 lakh post offices.
Cash management being the lifeline of business operations, IPPB with its robust network and technology platform can help corporates to manage their receivables safely, securely and seamlessly.

Important takeaways for all competitive 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 into a bancassurance partnership with Shivalik Small Finance Bank for the distribution of its life insurance products through the bank’s pan-India network of branches.
This alliance is a part of the bank’s various measures towards financial inclusion and acceleration of wealth creation for its customers.
Bharti AXA Life Insurance will offer its suite of life insurance products, including protection, health, savings and investment plans, to customers of Shivalik Small Finance Bank across its 31 branches and digital network across the country.
This alliance will enable over 4.5 lakh customers of Shivalik Bank to access the range of products offered by the company to provide financial security.

Important takeaways for all competitive exams:

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

6. ADB and India signed an agreement for road up-gradation project in Sikkim

The Asian Development Bank and the Government of India signed an agreement for financing road up-gradation project in Sikkim.
ADB will give a $2.5 million project readiness financing (PRF) loan to support projects related to upgradation of major district roads in Sikkim. It will improve the connectivity and also boost the economic activities in the state.
The project readiness nancing (PRF) will help in connecting the major district and other roads with the national and state highway network.
In 2011, the ADB-funded North Eastern State Roads Investment Program was launched to improve road connectivity in Sikkim.
The state agencies will prepare detailed engineering designs of selected sub-projects and do feasibility studies. Sikkim’s road network requires regular up-gradation due to frequent landslides and erosion.

Important takeaways for all competitive exams:

ADB is a regional development bank established in 1966;
ADB Members: 68 countries (49 members are from Asia pacific region);
ADB is headquartered in Mandaluyong, Philippines;
Masatsugu Asakawa is the current president of ADB.

Ranks and Reports News

7. Kerala retains top rank in Niti Aayog’s 3rd SDG India Index 2020-21

Kerala has retained the top rank in Niti Aayog’s 3rd edition of SDG India Index 2020-21, while Bihar has been adjudged as the worst performer.
The Index for Sustainable Development Goals (SDGs) evaluates the progress of states and union territories on social, economic and environmental parameters.
Kerala retained its rank as the top state with a score of 75.
The third rendition of India’s SDG Index was launched by Niti Aayog Vice Chairman Rajiv Kumar on 3rd June.

Important takeaways for all competitive exams:

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

8. Wipro becomes third Indian IT firm to scale Rs 3 trillion market cap

Wipro has touched Rs 3 trillion in market capitalisation for the first time, becoming the third Indian IT firm to achieve the milestone after Tata Consultancy Services and Infosys.
The company won its largest deal ever from German retailer Metro and has seen deal wins of $7.1 billion. India has a total of 13 listed firms that have crossed the Rs 3 trillion m-cap. Wipro now ranks 14th.
Reliance Industries is India’s most valued company with a market capitalisation of ₹14.05 trillion, followed 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 competitive 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 monetary policy committee of the Reserve Bank of India (RBI) headed by Governor Shaktikanta Das, has decided to keep key lending rates unchanged for the sixth consecutive time, in its June 2021 policy review meeting held between June 2 to 4, 2021.
The RBI’s Monetary Policy Committee (MPC) has decided to continue with an accommodative stance until necessary to mitigate the impact of COVID-19. The next meeting of the MPC is scheduled from August 4 to 6, 2021.

The Marginal Standing Facility (MSF) rate and bank rates remain 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 also downgraded the GDP growth forecast for FY22 to 9.5 per cent compared with 10.5 per cent earlier.
On the other hand, growth is a bigger concern. The Gross Domestic Product (GDP) contracted 7.3 per cent in FY21.
Recently, SBI economists had sharply cut their FY22 GDP growth estimates to 7.9 per cent from what was 10.4 per cent earlier.
The Reserve Bank of India Governor Shaktikanta Das announced a projection for Consumer Price Index (CPI) inflation at 5.1 per cent for FY 2021-22.
G-SAP 2.0 worth ₹1.2 lakh crore will be taken in the second quarter of FY22 to support the market.
The rupee snapped its three-day losing streak and closed 18 paise higher at 72.91 against the US dollar.

Defence News

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

Indian Navy’s hydrographic survey ship, Sandhayak would be decommissioned after serving the nation for 40 years.
The decommissioning ceremony of INS Sandhayak will be held at naval dockyard Visakhapatnam and will be a low-key event attended only by in-station officers and sailors with strict observance of COVID-19 protocols.
The ship, during its commissioned service, undertook approximately 200 major hydrographic surveys and numerous minor surveys in both east and west coasts of the country, the Andaman seas as well as in the neighbouring countries.

Sports News

11. FIH world rankings: Indian men’s team maintain 4th position

In Hockey, the Indian men’s team maintained their fourth position while the women’s team held to the ninth position in the latest International Hockey Federation world rankings.
Despite missing the European leg of the FIH Hockey Pro- League series in Great Britain, Spain and Germany in April and May, the Indian men’s team 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 observed globally on 4th June every year.
This day affirms the UN’s commitment to guard the rights of children. This day is to acknowledge the pain suffered by children throughout the planet who are the victims of physical, mental and emotional abuse.
The main aim of celebrating today is to spread the notice about the pain and sufferings faced by the victims as children.
On August 19, 1982, during an emergency session on the question of Palestine, the UN General Assembly, appalled at the amount of innocent Palestinian and Lebanese child victims of Israel’s acts of aggression, decided to commemorate 4 June of every year because of 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 passed away.
He is the country’s longest-serving prime minister with more than 18 years of tenure. He was considered the father of the Mauritian economic miracle of the 1980s.
Jugnauth held the post of Prime Minister between 1982 and 1995, then again between 2000 and 2003, and later between 2014 and 2017, before passing the torch to his son, Pravind Jugnauth, who is the current Prime Minister of Mauritius.

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