12 June 2024 Current Affairs in English

Today’s Current Affairs – 12 June 2024

12 June 2024 Current Affairs refers to the latest news and events happening worldwide and are relevant to our daily lives. Staying updated with the 12 June 2024 Current Affairs is essential for students who are preparing for exams, especially competitive exams, as it forms an important part of the syllabus. The importance of the 12 June Current Affairs 2024 lies in its ability to help students enhance their general knowledge, improve their reading and comprehension skills, and develop their critical thinking abilities.

12th June Daily Current Affairs 2024

12 June 2024 Current Affairs also provides students with insights into issues such as politics, economics, and social issues that are important for their overall development as informed citizens. Regularly reading and analyzing the 12 June 2024 Current Affairs not only helps students ace their exams but also prepares them for their future roles as responsible and well-informed citizens of society.

World Day Against Child Labour 2024

World Day Against Child Labour is an annual observance held on June 12 to highlight the plight of child labourers and to promote efforts to eliminate child labour. The day was first proclaimed by the International Labour Organization (ILO) in 2002.

The official theme for World Day Against Child Labour 2024 is “Let’s act on our commitments: End Child Labour!”. This day presents a vital opportunity to raise awareness, advocate for change, and contribute towards a future free from child labour. Read the complete article here.

CCI approves the acquisition of Global Infrastructure Management, LLC by BlackRock Funding, Inc.

The Competition Commission of India (CCI) has approved the acquisition of Global Infrastructure Management, LLC by BlackRock Funding, Inc. The proposed combination relates to the acquisition of 100% of the limited liability company interests in Global Infrastructure Management, LLC (GIM) by BlackRock Funding, Inc (BFI).

BFI is a newly formed wholly owned subsidiary of BlackRock Inc.(BlackRock), with no independent activities. BlackRock is a U.S. publicly traded company active in the provision of global investment management, risk management and advisory services to institutional and retail clients around the world. BlackRock manages assets on behalf of institutional and individual investors

GIM is a global independent infrastructure fund manager, headquartered in New York City, United States. GIM and its affiliates manage certain investment funds operating under the trading name Global Infrastructure Partners (the “GIP Funds”).

CCI approves acquisition of certain equity stake of TVS Certified Private Limited by Mitsubishi Corporation

The CCI has approved the acquisition of certain equity stakes of TVS Certified Private Limited and TVS Vehicle Mobility Solution Private Limited by Mitsubishi Corporation. The Proposed Combination relates to Mitsubishi Corporation (Acquirer) acquiring an equity stake in TVS Certified Private Limited (Target 1) and TVS Vehicle Mobility Solution Private Limited (Target 2).

The Acquirer is a global integrated business enterprise that develops and operates businesses with offices and subsidiaries in 90 countries and regions and around 1,700 group companies around the world and operates across industries including natural gas, industrial materials, petroleum & chemicals, mineral resources and industrial infrastructure.

Lieutenant General Upendra Dwivedi To Be Next Chief Of Army Staff

Lieutenant General Upendra Dwivedi has been appointed as the next Chief of the Army Staff. He will take charge from 30th June. The present Chief of the Army Staff, General Manoj C Pande will demit office on 30th June. Born on 1st July 1964, Lieutenant General Upendra Dwivedi was commissioned into the Infantry (Jammu and Kashmir Rifles) of the Indian Army on 15th December 1984

During his long and distinguished service spanning nearly 40 years, he has served in different capacities. In the rank of Lieutenant General, the officer has tenanted important appointments including Director General Infantry and General Officer Commanding in Chief (Headquarters Northern Command) from 2022 to 2024, before getting appointed as the Vice Chief of the Army Staff.

TDP Chief Chandrababu Naidu Takes Oath As Andhra Pradesh CM

Telugu Desam Party supremo Chandrababu Naidu has become the 24th Chief Minister of Andhra Pradesh. Naidu has set a record for becoming the Chief Minister of the state for the maximum number of times. The Jana Sena Party (JSP) Chief Pawan Kalyan, and 24 other MLAs from the TDP, Bharatiya Janata Party (BJP), and the JSP also took oath as Cabinet ministers of Andhra Pradesh.

HDFC Bank raises FD rates by 20 basis points with effect from June 10

HDFC Bank – the largest private sector lender – has hiked retail fixed deposit rates by up to 20 bps across various buckets with effect from June 10. The move comes even if the RBI decided to keep the policy repo rate unchanged in the June review of monetary policy. The regulator, however, asked banks to re-strategize in view of the widening gap between credit and deposit growth

The highest interest rate offered by HDFC Bank is for the 18 months to less than 21 months category where the rate is 7.25%. The bank offers 7.10% for the 15 to 18 months category. In the one-year to 15-month bucket, HDFC Bank will offer 6.60%. Senior citizens will get 50 bps more than the rate offered to others.

World Athletics signs five-year broadcasting services deal with Tata Communications

World Athletics announced a five-year global broadcasting deal with Tata Communications, making the Indian telecom major a key partner for marquee events starting with the Tokyo World Championships. The agreement aims to enhance innovation and audience engagement.

Tata Communications will be the host broadcaster for World Athletics Series events, delivering immersive coverage and custom live content across continents. Strategic initiatives include expanding the sport’s reach and supporting sustainability efforts.

Wipro launches Lab45 AI platform to boost efficiency across biz functions

Wipro announced the launch of its Lab45 artificial intelligence (AI) platform, which leverages generative AI (GenAI), machine learning (ML), and deep learning technologies to help companies increase efficiencies, transform business functions, and enable industry-specific solutions. Lab45 is Wipro’s innovation lab, and the Lab45 AI platform is available to all Wipro clients.

With over 1,000 GenAI agents and more than 10 GenAI applications, the platform claims to offer no-code and low-code pre-built applications for HR, sales, marketing, and operations functions, while also allowing for the easy creation of industry-specific GenAI agents and applications.

UGC allows universities to offer biannual admissions like foreign varsities

Indian universities and higher education institutions will now be allowed to offer admissions twice a year on lines of foreign universities with the University Grants Commission (UGC) giving a go-ahead to the plan, UGC chief Jagadesh Kumar said.

The two admission cycles will be July-August and January-February from the 2024-25 academic session.

World Bank revises India’s FY25 growth forecast to 6.6%

The World Bank on 11th June retained its growth forecast for India at 6.6% for FY25. For FY26 and FY27, the World Bank projected India’s economy to grow at 6.7% and 6.8%, respectively. In FY24, the National Statistical Office estimated gross domestic product (GDP) to have grown at 8.2%.

The Reserve Bank of India (RBI) in its latest monetary policy review last week raised its growth projection to 7.2 per cent for FY25 from 7 per cent estimated earlier. The World Bank said in India the fiscal deficit was projected to shrink relative to GDP partly because of increased revenues generated by the authorities’ efforts to broaden the tax base.

SBI launches ‘SME Digital Business Loans’, to sanction loans in 45 minutes

The country’s largest lender, State Bank of India (SBI), has floated ‘SME Digital Business Loans’ with the aim of sanctioning loans in 45 minutes.

The proposition eliminates the need for traditional credit underwriting and lengthy appraisal processes, ushering in a new era of simplicity, speed, and accessibility in MSME lending.

SBI’s outstanding SME book has risen from Rs 2.67 trillion at the end of March 2020 to Rs 4.33 trillion at the end of March 2024. The asset quality of this book has also improved, with gross non-performing assets declining from 9.43% in March 2020 to 3.75% in March 2024.

Shriram Life declares Rs 201 cr bonus in FY’24, up by 35%

Shriram Life Insurance has declared a bonus of Rs 201 crore for the financial year ending March 31, 2024, following the robust growth in premium income. The bonus payout would benefit 3.86 lakh policyholders of Shriram Life Insurance. The company’s Asset Under Management (AUM) stood at Rs 11,282 crore, up by 25% from Rs 9,012 crore recorded last financial year.

Bank of India takes 6% stake in CCIL IFSC

The State Bank of India has acquired a 6.125% share in the recently created CCIL IFSC, which is listed in the GIFT SEZ, demonstrating its commitment to the growth of the IFSC. CCIL IFSC, promoted by Clearing Corporation of India Limited (CCIL), is the proposed entity to create and run a real-time foreign currency settlement system at GIFT City.

Current Affairs 2024 Quiz

Boost your exam preparation with our Current Affairs Quiz! Perfect for UPSC, SSC, IBPS, RBI, and other competitive exams, our quizzes cover the latest events in politics, economics, technology, and more. Test your knowledge, stay updated, and improve your chances of success. Take our Current Affairs Quiz now and enhance your exam readiness! Stay informed and stay ahead with our interactive quizzes.

Daily Current Affairs 2024

Get a competitive edge in all government exams with Daily Current Affairs 2024 by Oliveboard! Tailored for exams like NABARD Grade A, RBI Grade B, SEBI Grade A, IFSCA Grade A, IBPS PO, IBPS Clerk, SBI PO and SBI Clerk, IDBI Assistant Manager, FCI, SSC CGL, SSC CHSL, LIC AAO, LIC ADO, UPSC CSE & various other exams., our daily updates keep you ahead of the curve. Stay informed about the latest events in politics, economics, technology, and beyond. With concise summaries, Oliveboard’s Daily Current Affairs helps you stay abreast of important topics and enhance your exam preparation. Stay ahead, stay informed, and increase your chances of success with Oliveboard’s Daily Current Affairs 2024!

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