Daily Current Affairs 7 June 2024 for Banking | Insurance | SSC and other related exams.
National News
India to host IATA’s annual global airlines summit after 42 years
-> India will host the world’s most premier aviation event, the annual general meeting (AGM) of the International Air Transport Association (IATA), next year, after a gap of 42 years.
-> IndiGo, India’s largest airline by market share, will be the host airline of the AGM and the World Air Transport Summit, which will take place in Delhi between June 8 and 10, 2025, IATA announced on Monday.
-> This significant event, scheduled for June 8 to 10, will convene in Delhi, the third time the city has hosted the AGM after 1958 and 1983.
All-India Consumer Price Index Numbers For Agricultural And Rural Labourers – March & April, 2024
-> The Labour Bureau, an attached office of the M/o Labour & Employment, has been compiling All-India Consumer Price Index for Agricultural Labourers (CPI-AL) and Rural Labourers (CPI-RL) every month on the basis of retail prices collected from 600 villages spread over 20 States. The indices for the months of March, 2024 and April, 2024 are being released in this press release.
-> In March 2024, both the CPI-AL and CPI-RL increased by 1 point, reaching 1259 and 1270, respectively. In April 2024, the CPI-AL rose by 4 points to 1263, while the CPI-RL increased by 5 points to 1275.
-> The year on year inflation rates for CPI-AL and CPI-RL in March 2024 were recorded at 7.15% and 7.08%, respectively. In April 2024, the year on year inflation rates for CPI-AL and CPI-RL were registered at 7.03% and 6.96%, respectively.
Haryana Police Secures First Position In Blocking Mobile Numbers Involved In Cyber Crime
-> Haryana Police have topped the charts across the country in blocking cellphone numbers allegedly involved in cyber fraud in the first four months of this year.
-> According to the National Cyber Crime Reporting Portal, a total of 111,349 mobile numbers have been blocked by Haryana Police so far, the highest in India. This is Haryana Police’s second significant national-level achievement in cybercrime control, earning widespread praise.
-> From January 1 to May 31, 2024, Haryana Police arrested 1,668 cybercriminals. Of these, around 400 were from Haryana, while about 1,200 were apprehended in cybercrime hotspots across Assam, Rajasthan, Jharkhand, Uttar Pradesh, and other states.
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International News
India participates in ITU’s WSIS+20 Forum High-Level Event and ‘AI for Good’ Global Summit
-> Additional Secretary (Telecom) Shri Niraj Verma has highlighted that India is leading in drafting global standards for responsible and trustworthy AI, and the TEC (Standard’s body of DoT, India) has released a Standard for assessing and rating fairness in AI Systems. He also informed that TEC is now framing another Standard for assessing and rating robustness of AI systems.
-> India took over the baton of hosting WTSA 2024 in New Delhi from 15-24 October 2024 during the AI for Good Global Summit at ITU Geneva and extended a warm invitation to the foreign delegates from across the globe to attend the upcoming WTSA in New Delhi. It was followed by launch of host country website of WTSA 2024 (https://www.delhiwtsa24.in/)
India, US, Japan, South Korea & EU Launch Biopharmaceutical Alliance
-> India, South Korea, Japan, the US, and the European Union today launched an alliance to put joint efforts to build a resilient supply chain in the biopharmaceutical sector.
-> The participants emphasised the importance of a reliable and sustainable supply chain and agreed to coordinate the respective countries’ bio policies, regulations, and research and development support measures.
-> The announcement was made at the inaugural meeting of the Biopharmaceutical Alliance, held in San Diego, California, during the Bio International Convention 2024, the world’s largest biopharmaceutical exhibition.
Twelve countries sign the Zero Debris Charter
-> Twelve nations have signed the Zero Debris Charter at the European Space Agency (ESA) /EU Space Council, solidifying their commitment to the long-term sustainability of human activities in Earth orbit.
-> Twelve nations have signed the Zero Debris Charter at the European Space Agency (ESA) /EU Space Council, solidifying their commitment to the long-term sustainability of human activities in Earth orbit.
Banking & Finance
Overall banking, NBFC, MFI sector stable, RBI watchful of risks, says Governor
-> On June 7, MPC decided to keep the repo rate unchanged at 6.5 percent
-> The banking, non-banking financial services (NBFC) and microfinance (MFI) space are stable, but the Reserve Bank of India (RBI) is watchful, said Governor Shaktikanta Das.
-> “Overall, the banking, NBFC and MFI sector is stable. Whenever we see any outlier, we make it very clear and engage with them.
Arka Fincap gets IRDAI’s Corporate Agency License to offer Insurance Solutions
-> Arka Fincap Limited, an NBFC and subsidiary of Kirloskar Oil Engines Limited (KOEL), has been given a Certificate of Registration to function as a Corporate Agent (composite) by India’s Insurance Regulatory and Development Authority (IRDAI). This registration allows Arka to expand into insurance distribution, adding to its existing financial solutions portfolio to meet consumers’ diverse needs.
-> This development enables Arka Fincap to broaden its product portfolio, entering the insurance sector to capitalize on emerging opportunities while aligning with its core value of being customer-centric.
Edelweiss Tokio Life Insurance rebranded as Edelweiss Life Insurance
-> Edelweiss Tokio Life Insurance has officially rebranded itself as Edelweiss Life Insurance, marking a significant shift in its strategic direction and brand identity.
-> As part of its transformational journey, new-generation life insurance company Edelweiss Tokio Life Insurance has been rechristened as Edelweiss Life Insurance, the company said in a statement on Monday.
Business & Economy
The India Opportunity Showcased at the IPEF Clean Economy Investor Forum
-> Over 60 participants from across global investors and financial institutions & Over 15 Indian firms participated in person to attract global investors.
-> On the sidelines of the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum, the Department of Commerce and Invest India organised a meeting to showcase various investment opportunities in India.
SEBI Forms Committee to Review Clearing Corporations
-> Capital markets regulator Sebi said it has set up an ad-hoc committee chaired by Usha Thorat, who was a former Deputy Governor of the Reserve Bank of India (RBI) to review the ownership and economic structure of clearing corporations and suggest measures to ensure that clearing corporations function as resilient, independent, and neutral risk managers.
-> The 2018 report of the Committee on review of regulations and relevant circulars pertaining to Market Infrastructure Institutions (MIIs), had noted that the ownership of MIIs, should be dispersed, and should be widely held
-> The decision has been taken in the wake of the substantial growth of Indian securities markets in recent years and the importance of clearing corporations as central risk management.
Netherlands becomes India’s 3rd Largest Export Destination in 2023-24
-> The Netherlands has emerged as India’s third largest export destination after the U.S. and UAE during 2023-24, even as the country’s merchandise shipments dipped by over 3%, according to the Commerce Ministry data.
-> The Netherlands has taken major destinations such as the U.K., Hong Kong, Bangladesh and Germany.
-> The main commodities which registered healthy exports growth in the Netherlands include petroleum products (USD 14.29 billion), electrical goods, chemicals, and pharmaceuticals in the last fiscal.
SPORTS
Mohammed Siraj Bags ‘Fielder Of The Match’ Medal For Excellent Effort On Field After India’s Win Over Ireland
-> India’s star pacer Mohammed Siraj was crowned with the ‘Fielder of the Match’ medal after Men in Blue hammered Ireland by eight wickets to start their ICC T20 World Cup campaign at the Nassau County International Cricket Stadium in New York.
-> Siraj was not required to bowl his whole four-over quota as Hardik Pandya and Jasprit Bumrah shredded Ireland’s batting order. While Hardik took three wickets, Bumrah took two during his three-over performance.
APPOINTMENTS
Prof. Rakesh Mohan Joshi takes over as vice-chancellor of IIFT
