Daily Current Affairs 3rd June, 2020

Daily Current Affairs 3 June 2020 for Banking/Insurance/SSC and other related exams.


Kisan Credit Cards (KCC) campaign launched for 1.5 crore dairy farmers
The government has launched the Kisan Credit Cards campaign to benefit dairy farmers. Under the special drive, Kisan Credit Cards will be provided to 1.5 crore dairy farmers belonging to Milk Unions and Milk producing Companies within the next two months between June 1-July 31, 2020.

  • The Department of Animal Husbandry and Dairying in association with the Department of Financial Services have already circulated relevant circulars and KCC application format to all the State Milk Federation and Milk Unions to implement the same on a mission mode.

Power Minister launches pan-India Real Time Market in electricity
Union Minister of Power and New and Renewable Energy R. K. Singh launched a pan-India Real Time Market in electricity through video conference in New Delhi.

  •  This initiative has placed Indian electricity market amongst a league of few electricity markets in the world, which have real time market.
  • Real time market would be operational for every 30 minutes in a day based on double sided closed auction with uniform price.
  • The concept of “Gate Closure” has been introduced for bringing in the desired firmness in schedules during the hours of market operation. Buyers and sellers will have the option of placing buy and sell bids for each 15-minute time block.

Govt transfers over Rs 19k crore to 9.67 crore farmers under PM-KISAN during lockdown
Under the PM- KISAN scheme , during the lockdown period from 24th of March, bhave been benefited and an amount of over 19 thousand 350 crore rupees has been released so far. The government also launched  Pradhan Mantri Kisan Maan Dhan Yojana on 12th September last year to ensure payment of minimum pension of three thousand rupees per month to the eligible small and marginal farmers on attaining the age of 60 year.

  • During the period, 415 new Mandis have been integrated with National Agriculture Market e- NAM platform . With this e-NAM platform now has a total number of 1000 mandis across 18 States and 3 Union Territories.
  •  Besides, the Kisan Rath Mobile App was also launched to facilitates Farmers and Traders in identifying right mode of transportation for movement of farm produce. Under Atma Nirbhar Bharat Abhiyan, the government has announced one lakh crore rupees Agri Infrastructure Fund for farm-gate infrastructure for farmers.


Public sector banks sanction loans worth over RS 10,361 cr under ECLGS
Public sector banks have sanctioned loans worth over 10,361crore rupees under the 100 percent Emergency Credit Line Guarantee Scheme. 

  • As per the Finance Ministry, out of this, over 3,892 crore rupees have already been disbursed. These loans are sanctioned under Aatmnirbhar Bharat package.


Despite being 3rd largest startup ecosystem, India falls to 23rd spot surprisingly below these countries
According to the global innovation mapping and research company StartupBlink, which gathers local data of every country to rank their startup ecosystem based on the quality of startups, business environment coupled with the quantity, India has moved down from 17th position in 2019 to 23rd this year out of 100 countries.

  • The third-largest ecosystem – India, in terms of number of technology startups, has been ranked even behind emerging ecosystems such as Estonia, Lithuania, Brazil, Denmark etc. The ranking has been led by the US, the UK, and Israel while China has improved its rank by 13 spots to 14th position this year and Japan stood at 21st spot.
  • Moreover, among the top 100 startup cities, only four India cities were captured. Bengaluru (down by three ranks to 14th position), New Delhi (up by three spots to 15th position), Mumbai (improved by seven spots to 22nd position), and Hyderabad (falling 21 ranks to disappointing 96th position). Last year, seven cities were ranked in the top 100 list versus four this year


LVB CEO, Subramanian Sundar gets extension
The Reserve Bank of India has approved the extension of tenure for Lakshmi Vilas Bank’s MD and CEO, Subramanian Sundar by six months. This is the second extension given to Mr. Sundar who was the MD & CEO (interim) from January 1, 2020 to April 30.

  • His tenure was further extended to May 31, the bank said in a filing. The board extended his tenure till November 30 or till the appointment of the new CEO, whichever is earlier.

PM Modi appoints committee headed by Rajnath Singh for MSME loan scheme implementation: Nitin Gadkari
Prime Minister Narendra Modi has appointed a committee headed by Rajnath Singh to resolve any problem in the implementation of the Rs 3 lakh crore collateral-free loan scheme for MSMEs, said MSME Minister Nitin Gadkari.

  • In an online interaction with the members of the Pune-based Mahratta Chambers of Commerce, Industries and Agriculture (MCCIA), Gadkari asked small businesses to email him directly in case of problems faced by them in securing credit under the scheme.
  • Gadkari also said that for MSMEs to foray into the solar park sector, being a good idea would be viable if state governments reduce transmission charges. He urged small businesses to reach out to Maharashtra’s Chief Minister Uddhav Thackeray for a cut in the transmission charges.

Pradip Kumar Tripathi takes charge as Steel Secretary
Senior IAS officer Pradip Kumar Tripathi took over the charge as Secretary in the Ministry of Steel, according to an official statement.

  • Mr. Tripathi succeeds Binoy Kumar, who superannuated on May 31, 2020.
  • Prior to this, Mr. Tripathi had been posted as Special Secretary and Establishment Officer in Department of Personnel and Training (DoPT)


DRDO develops disinfection unit of PPEs and other material called Ultra Swachh
Defence Research and Development Organisation (DRDO) has developed a disinfection unit named Ultra Swachh to disinfect a wide range of materials, including Personal Protective Equipment (PPEs), electronics items, fabrics, etc.

  • Institute of Nuclear Medicine & Allied Sciences (INMAS), the Delhi-based laboratory of DRDO has developed this product with industry partner Gel Craft Healthcare, Ghaziabad.The system uses an advanced oxidative process consisting of multiple barrier disruption approaches using Ozonated Space Technology for disinfection.
  • The system is double layered with specialised Ozone sealant technology ensuring trapping of ozone for the necessary disinfection cycle. It also has a catalytic converter to ensure environment friendly exhaust i.e. only oxygen and water.


BJP Tamil Nadu former president KN Lakshmanan passes away at 90
Former two-time Tamil Nadu State BJP president K N Lakshmanan died at his home in Salem due to age-related ailments. He was 90 years.

  • In 1944, Lakshmanan joined the RSS and in 1957 started the Jana Sangh in Salem district along with nine others.
  • When the Jana Sangh became the BJP, Lakshmanan was appointed the party’s State president and held the post from 1984-89. He also held the post from 1996 to 2000. In 2001, he was elected to the State Assembly from the Mylapore constituency in Chennai.
  • From 2006 till his death, he served as a member of the BJP’s national general council. In the course of his political career, he led several agitations in Salem and other districts, even going to prison.

Former Union Minister, Congress leader P Namgyal passes away
Former Union Minister and three-time Congress MP from Ladakh, P Namgyal, passed away after brief illness in the Union Territory of Ladakh.He was 83

  • Namgyal was served the Pradesh Congress Committee in the erstwhile Jammu and Kashmir state as secretary general and vice president
  • From 1960-73 and then from 1974-80, he remained a member of the then Jammu and Kashmir Legislative Council until he got elected to seventh Lok Sabha. Four years later in 1984, he was re-elected to Lok Sabha and severed the Central government as union deputy minister between 1988-89. He was elected to the Lok Sabha third time in 1996.

Former international archer Jayantilal Nanoma passes away
International archer-turned-coach Jayantilal Nanoma died in a road accident in Rajasthan. He was 34.

  • Nanoma, an Asia Cup and Asian Grand Prix medallist in compound individual and team events in 2010.Nanoma was employed as a District Sports Officer in Dungarpur.
  •  As a coach, he produced several national and international level archers from Rajasthan.He worked as a coach with the Indian team in different overseas competitions. He received the prestigious Maharana Pratap State Sports Award.

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