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Banking Current Affairs : 8th June 2024

Today’s Current Affairs: 8th June 2024 for SSC CGL, State SSC, RRB, Railways, Banking Exam & IBPS, etc

World Oceans Day 2024:

  • World Oceans Day is an annual global observance held on June 8th to raise awareness about the importance of the ocean and its preservation.
  • The official theme for World Oceans Day 2024 is “Catalyzing Action for Our Ocean & Climate”.

Sift Kaur Samra Bags Bronze Medal In Women’s 50m Rifle 3-Position In ISSF Rifle Pistol World Cup:

  • Women’s 50m rifle 3-positions specialist Sift Kaur Samra won a bronze medal on 7th June on the concluding day of the International Shooting Sport Federation (ISSF) World Cup Rifle/Pistol in Munich, as India ended the competition with two medals.
  • Sift shot 452.9, to give up silver by an agonizing 0.1 to China’s Han Jiayu, the reigning Air Rifle Women’s World Champion.

Raj Priy Singh (IFoS) was appointed as Director of the Department of Rural Development:

  • Raj Priy Singh (IFoS) has been selected for the appointment as Director in the Department of Rural Development under the Ministry of Rural Development.
  • According to an order issued from the Department of Personnel & Training(DoPT), Singh has been selected for the appointment under the Central Staffing Scheme (CSS) for a period with effect from the date of taking over charge

South Korea’s Mirae Asset mulls $150 mn capital infusion in Sharekhan:

  • South Korea’s financial services major Mirae Asset Capital Markets plans to infuse over $150 million into the retail broking arm Sharekhan for expansion into the wealth and portfolio management business, said sources.

Moody’s maintains stable outlooks on three Indian public sector banks:

  • Moody’s Ratings (Moody’s) on 8th June affirmed the Baa3 ratings on three Indian public sector banks — Bank of Baroda (BOB), Canara Bank, and Punjab National Bank (PNB).
  • The rating agency maintained stable outlooks on the long-term ratings of all three banks.

RBI permits automatic replenishment of UPI Lite wallet:

  • The Reserve Bank of India (RBI) on 8th June proposed a facility to allow customers to automatically replenish their UPI Lite wallets to promote small-value digital payments.
  • Currently, the UPI Lite has a daily limit of ₹2,000, while the upper limit for a single payment is ₹500.
  • UPI Lite is a simplified version of the Unified Payments Interface (UPI).

RBI nods Zurich Insurance’s Acquisition of 70% Stake in Kotak General Insurance:

  • The Reserve Bank of India (RBI) has approved Zurich Insurance Company’s acquisition of a 70% stake in Kotak Mahindra General Insurance Company for ₹5,560 crore.
  • This approval marks a crucial step in the transaction process. Kotak Mahindra Bank confirmed the RBI’s nod in an exchange filing on June 5, stating that all required approvals have been obtained

President Murmu Invites PM Modi To Form A New Government; Swearing-In June 9.

  • President Droupadi Murmu has invited Narendra Modi, as leader of the BJP’s National Democratic Alliance, to form the next union government, days after the coalition eased to victory in the 2024

Ramoji Rao, Founder of Eenadu Group & Ramoji Film City, Dies at 88:

  • Ramoji Rao, the founder of Eenadu Group and Ramoji Film City, passed away on June 8 morning in Hyderabad, Telangana. He was 88 years old.
  • He was undergoing treatment at Star Hospital in Hyderabad and breathed his last at 3:45 am today.

World Brain Tumour Day 2024 Observed on 08th June:

  • June 8, 2024, the global healthcare community observed World Brain Tumour Day to shed light on the debilitating impact of brain tumours and the need for consistent efforts in educating people and supporting those affected by this condition.

Sameer Bansal Appointed CEO of PNB MetLife:

  • PNB MetLife India Insurance has announced Sameer Bansal as its new Managing Director and Chief Executive Officer, effective from July 1, 2024.
  • Bansal, currently serving as the Chief Distribution Officer, brings over 25 years of financial services experience to his new role.

Philemon Yang of Cameroon elected President of upcoming General Assembly Session:

  • The UN General Assembly (UNGA) on June 6, elected former Cameroonian Prime Minister Philemon Yang as president of the 79th UNGA session.
  • Yang will succeed Denis Francis of Trinidad and Tobago, president of the 78th UNGA session.

Sarabjot Singh Shines at ISSF World Cup in Munich:

  • The International Shooting Sports Federation (ISSF) World Cup, a prestigious shooting tournament, is currently underway in Munich, Germany, from May 31 to June 8, 2024.
  • Amidst the intense competition, Indian shooter Sarabjot Singh has etched his name in history by claiming India’s first medal at the event.

NaturAfrica Initiative:

  • The European Commission (EC) has removed Tanzania from the list of countries eligible for its 18 million Euro conservation grant to be launched in East Africa as part of its NaturAfrica initiative.
  • NaturAfrica initiative is a European Union (EU) program aimed at supporting biodiversity conservation in Africa through a people-centred approach.

Sticky Inflation:

  • Sticky inflation has dashed the hopes of early rate cuts with experts now pencilling in repo rate cuts by the RBI from December this year.
  • Economists expect a shallow rate cut cycle with RBI likely to lower the repo rate by 75 – 100 basis points.

Pump And Dump Scheme In The Stock Market:

  • The Securities Exchange Board of India’s (SEBI) recently slapped a fine of Rs 7.75 crore on 11 individuals for allegedly operating a ‘pump and dump’ scheme.

RBI is planning to rationalise the Guidelines for Export and Import of Goods and Services under the Foreign Exchange Management Act (FEMA), 1999.:

  • Foreign Exchange Management Act (FEMA), 1999 came into force on June 1, 2000, as a successor to the Foreign Exchange Regulation Act, or FERA, of 1973, with changing economic conditions in a post-liberalisation India.

World Wealth Report 2024:

  • The number of high-net-worth individuals (HNWI) in India increased by 12.2% in 2023 compared to 2022 as per the Capgemini Research Institute’s World Wealth Report 2024.
  • World Wealth Report 2024 is released by the Capgemini Research Institute.

Arun-III Hydro Power Project:

  • The 900 MW Arun III Hydropower Project in eastern Nepal, constructed with Indian assistance, recently achieved a significant milestone with a tunnel breakthrough.
  • Arun-III Hydro Power Project is a 900 MW run-of-the-river hydropower project being constructed on the Arun River in Sankhuwasabha District of Eastern NEPAL.

Standard Missile 6 (SM-6):

  • The US SM-6 missiles are hogging the headlines again after photographs of a US Navy F/A-18 Super Hornet appeared carrying an air-launched variant of the SM-6, or the RIM-174 missile.
  • Standard Missile 6 (SM-6) is a multi-mission missile capable of anti air warfare, terminal ballistic missile defense, and anti ship strike roles.

Role Of Nuclear Technology In Global Food Safety:

  • An International Symposium on “Safe Food for a Better Life”, jointly organised by the Food and Agriculture Organisation (FAO) and the International Atomic Energy Agency (IAEA) emphasised the importance of nuclear technologies for measuring, managing and controlling food safety.

Policy Rate Unchanged : RBI

  • The Reserve Bank of India (RBI) decided to keep the policy rate unchanged at 6.5% for the eighth consecutive time.
  • The Monetary Policy Committee (MPC) will maintain a tight control on inflation and remain watchful of elevated food inflation amid the expectation of a normal monsoon.
  • The rate increase cycle was paused in April last year after six consecutive rate hikes, totalling 250 basis points since May 2022.

Minuteman III : Intercontinental Ballistic Missile

  • The US conducted an unarmed Minuteman III intercontinental ballistic missile (ICBM) test from Vandenberg Space Force Base, California.
  • The LGM-30G Minuteman III, a solid-fueled ICBM first deployed by the USAF in the 1960s, serves as the sole land-based component of the U.S. nuclear triad.