Daily Current Affairs 4th & 5th June, 2023

Daily Current Affairs 4 & 5 June 2023 for Banking/Insurance/SSC and other related exams.

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Maharashtra govt signs MoU with Bajaj Finserv to invest Rs 5,000 crore in Pune
The Maharashtra government has signed a Memorandum of Understanding – MoU with Bajaj Finserv in Mumbai. Under this MoU, the non-banking finance company will invest 5,000 crore rupees in Pune which is expected to create 40,000 jobs.

  • After signing the MoU, Maharashtra Deputy Chief Minister Devendra Fadnavis said that Pune is gradually becoming a hub for financial services and the latest development involving Bajaj Finserve would boost the sector. 

India’s first carbon neutral village being developed in Bhiwandi Taluka of Thane district
Union Minister of State Kapil Patil saidIndia’s first carbon neutral Village is being developed in Bhiwandi Taluka of Thane district. He said, as much as 121 tribal villages are being developed as model villages. 

  • While addressing press conference under BJP’s Maha Jansampark Abhiyan Mr. Patil said, one lakh 75 thousand farmers are taking the benefit of Pradhan Mantri Kisan Samman Yojana in Bhiwandi Lok Sabha Constituency. 

Centre appoints Commission of Inquiry to look into incidents of violence in Manipur
The Central Government has appointed a Commission of Inquiry to look into the incidents of violence in Manipur on the  third of last month. The three-member-commission will be chaired by former Chief Justice of Gauhati High Court Justice Ajai Lamba.

  • The Commission includes Retired IAS officer Himanshu Shekhar Das and retired IPS officer Aloka Prabhakar as members.
  • The Commission will probe causes and spread of the violence and riots targeting members of different communities. They will examine the sequence of events leading to, and all the facts relating to such violence and assess if there were any lapses or dereliction of duty by responsible authorities.


UAE to Host World’s Largest Conservation Conference in 2025
The United Arab Emirates (UAE) has won the bid to host the 2025 World Conservation Congress (WCC) of the International Union for Conservation of Nature (IUCN). 

  • The UAE has a long history of environmental protection, and it is home to a number of important conservation initiatives, including the Sheikh Zayed Desert Learning Center and the Al Ain Oasis.
  • The 2025 WCC will be held in Abu Dhabi from October 10-21, 2025. The event will be an opportunity for conservationists from around the world to come together and discuss the most pressing environmental challenges facing our planet.


RBI Imposes Rs. 2.20 crore Penalty on Indian Overseas Bank
The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.20 Crore (Rupees Two Crore and twenty Lakh only) on Indian Overseas Bank on June 2nd 2023 based on the order dated 29th May 2023. The penalty was imposed on grounds of contravention of the provisions of Section 17(1) of the Banking Regulation Act. 

  • The penalty was imposed due to the bank’s failure to make a minimum mandatory transfer of a sum equivalent to 25 percent of its disclosed profit and a significant divergence between the non-performing assets (NPAs) reported by the bank and those assessed during inspection.

IRDAI directs SBI Life to take over Sahara India Life Insurance business
The Insurance Regulatory and Development Authority of India (IRDAI), has taken a significant step to protect the interests of policyholders of Sahara India Life Insurance Company (SILIC).

  • SILIC, which has been facing financial and governance issues, will undergo a transfer of its life insurance business to SBI Life Insurance Company (SBI Life), one of the country’s largest life insurers.  


Max Verstappen wins Spanish Grand Prix 2023
Max Verstappen emerged victorious at the Spanish Grand Prix, clinching the pole position and extending his lead in the Formula One championship by 53 points. Red Bull’s dominance continued as they celebrated their seventh consecutive triumph of the season.

  • Lewis Hamilton, a seven-time world champion, secured the second spot for Mercedes but trailed a substantial 24.090 seconds behind Verstappen. Hamilton’s teammate, George Russell, completed the podium, marking a successful outing for the Mercedes team at Barcelona’s Circuit de Catalunya, despite the cloudy yet dry conditions.


Dennis Francis elected 78th UNGA president
Dennis Francis, a citizen of Trinidad and Tobago (TT), created history by becoming the first TT citizen to be elected as the President of the UN General Assembly (UNGA).He will serve as the 78th President of the UNGA.

  • Francis, who has served in the diplomatic service for over 40 years, was nominated on April 1 and faced no opposition in the election. 
  • He will enforce the rules of procedure, such as opening and closing debates, regulating speaking times for representatives, suspending or adjourning debates, and setting the agenda for the assembly.


Education Ministry announces NIRF ranking for 2023
The Ministry of Education announced the National Institutional Ranking Framework (NIRF) ranking for the year 2023. The Indian Institute of Technology (IIT) Madras has been declared the best educational institute under the overall category.

  • Indian Institute of Science (IISc), Bangalore got second position and Indian Institute of Technology, IIT-Delhi, awarded third position in the same category.  
  • All India Institute of Medical Science, AIIMS New Delhi was awarded the 5th position and Jawaharlal Nehru University (JNU), New Delhi got the 10th position in the overall category.
  • In the category of top ten Universities in the country, IISc, Bangalore is in First position and JNU in second position. Jamia Millia Islamia got 3rd position, Banaras Hindu University 5th position and Aligarh Muslim University bagged 9th position in this category.

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