Daily Current Affairs 7th June, 2023

Daily Current Affairs 7 June 2023 for Banking/Insurance/SSC and other related exams.

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Centre approves third revival package for BSNL with total outlay of Rs 89,047 cr
In a significant move, as part of the revival strategy, the Cabinet approved the third revival package for BSNL with a total outlay of 89 thousand 47 crore rupees. It includes an allotment of 4G and 5G spectrum for BSNL through equity infusion. The authorized capital of BSNL will be increased from one lakh 50 thousand crore rupees to two lakh ten thousand crore rupees.

  • With this revival package, BSNL will emerge as a stable telecom service provider focused on providing connectivity to the remotest parts of India. 
  • With this spectrum allotment, BSNL will be able to provide pan India 4G and 5G services, provide 4G coverage in rural and uncovered villages under various connectivity projects, provide Fixed Wireless Access FWA services for high-speed internet and provide services and spectrum for Captive Non-Public Network CNPN.

Cabinet approves increase in MSP for all mandated Kharif Crops for Marketing Season 2023-24
The Cabinet Committee on Economic Affairs (CCEA) approved an increase in Minimum Support Price, MSP, for all mandated Kharif Crops for Marketing Season 2023-24. The Cabinet has taken this decision to ensure remunerative prices to growers for their produce and to encourage crop diversification. Union Minister Piyush Goyal said this year’s increased MSP is the biggest in the last several years.

  • The increase in MSP for Kharif Crops for Marketing Season 2023-24 is in line with the Union Budget 2018-19 announcement of fixing the MSP at a level of at least 1.5 times the All-India weighted average Cost of Production, aiming at reasonably fair remuneration for the farmers.

NCERT terms those reports as misleading and factually incorrect wherein it is claimed that Evolution and Periodic Table has been dropped from NCERT books
National Council of Educational Research and Training (NCERT) has termed those reports as misleading and factually incorrect wherein it is claimed that Evolution and Periodic Table has been dropped from NCERT books.

  • NCERT said that the periodic table has not been removed from the school education curriculum but is, in fact, available in great detail in Unit 3 of Class 11th textbook – Classification of Elements and Periodicity in properties.  
  • NCERT further stated that there is a full chapter on Evolution available in chapter 6 – Evolution, of Class 12th textbook which explains the concept of Evolution and Charles Darwin’s Theory of Evolution in great detail.

BIMSTEC Centre for energy cooperation will be inaugurated in India this year: Secretary General Tenzin Lekphell
The BIMSTEC Energy Centre which will act as the Secretariat for BIMSTEC energy cooperation will be formally inaugurated in India later this year, said BIMSTEC Secretary General Tenzin Lekphell in Dhaka. 

  • Addressing the High Commissioners, Ambassadors and dignitaries at the BIMSTEC headquarter on the occasion of the 26th BIMSTEC Day programme in Dhaka Tenzin Lekphell said that  the three key components  to realise intergrid connection namely the BIMSTEC Energy Master Plan; BIMSTEC Policy for Transmission of Electricity; and the Policy for Trade, Exchange of Electricity and Tariff Mechanism – are nearing completion.


Bank of Baroda launches UPI cash withdrawal facility at ATMs
Bank of Baroda (BoB) recently announced a new way to withdraw cash via the Unified Payments Interface (UPI) in all its ATMs, as per reports. The move comes in line with the Reserve Bank of India (RBI) order to banks to offer Interoperable Cardless Cash Withdrawal (ICCW) option.

  • The new facility aims to protect people from cloning, impersonation and fraud. It generates a unique QR code for every transaction. With ATM UPI service, customers can avail of only two transactions per day per account, and at a limit of ₹5,000.


Tata Group signs Rs 13,000-crore EV battery plant deal with Gujarat
The Tata group signed an outline deal with the Gujarat government on building a lithium-ion cell factory with an investment of about Rs 13,000 crore ($1.6 billion). The move comes as India is looking to create its own electric vehicle (EV) supply chain.

  • According to sources close to the development, the decision to set up the EV battery plant at Sanand, Gujarat, was taken earlier this week at a Tata Sons board meeting.
  • Tata Motors already has a plant operational at Sanand, and has also acquired the adjoining Ford Motors’ plant. The process of integration of the two plants has begun and may take up to one year to complete.

World Bank cuts India’s GDP growth forecast for FY24 to 6.3% in latest Global Economic Prospects report 
World Bank lowers India’s Fy24 GDP growth forecast to 6.3% while boosting global outlook. 

  • According to the latest Global Economic Prospects report by the World Bank, global GDP is projected to increase by 2.1% this year. This represents an improvement from the previous forecast of 1.7% in January.
  • The World Bank revised its global growth projection for 2023 upwards, attributing it to the resilience of the US and other significant economies surpassing previous expectations. However, the institution also cautioned that higher interest rates would result in a greater-than-anticipated slowdown in the following year. 


Serbia and USA win FIBA 3×3 World Cup 2023
Serbia’s men and the United States women won the FIBA 3×3 World Cup 2023, which took place in Vienna, Austria. In the men’s category, Serbia extended their historic World Cup heroics, capturing their sixth title in just 8 editions after defeating USA (21-19) in the final. 

  • The “Maestro” Dejan Majstorovic had a game-high 7 points in the thriller against the US. Latvia defeated Brazil 22-12 to claim the bronze medal. The duo of Karlis Lasmanis and Nauris Miezis combined for 13 points in the game before Agnis Čavars scored the two to hand Latvia the victory.
  • In the women’s category, USA took home gold for the third time with a 16-12 win against last year’s champions France. Stars Hailey Van Lith and Cierra Burdick combined for 14 points to carry their side to victory.


Wrangler signs Smriti Mandhana as brand ambassador
Ace Turtle Omni Pvt Ltd., a retail company, has appointed Indian cricketer Smriti Mandhana as the brand ambassador of its Wrangler brand. The company is the exclusive licensee of the denim brand in India.

  • Mandhana had carved her niche in international women’s cricket and has captivated fans worldwide with her exceptional talent and fearless approach. Her performances on the cricket field have earned her accolades like ICC Women’s cricketer of the year two times.

Zlatan Ibrahimovic announces his retirement from football
AC Milan striker Zlatan Ibrahimovic announces his retirement from football after they played season’s final game against Hellas Verona. 

  • The Swedish player decided to conclude a trophy-laden career in which he featured for clubs such as Malmo, Ajax, Juventus, Inter, Barcelona, PSG, Manchester United and the LA Galaxy.
  • Zlatan Ibrahimovic has also bagged several league titles in Netherlands, Spain, France and Italy in 24 years of professionally playing the game.

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