Daily Current Affairs Quiz 3rd June 2024

” Phonepe, a leading fintech firm, has launched secured lending products on its platform by partnering with banks, non-banking financial companies (nbfcs), and other fintech firms.• phonepe aims to create a powerful and seamless user experience in the secured loans category.• the customers can access lending solutions on the phonepe app in six major categories: mutual fund, gold, bike, car, home and loans against property, and education loan.”

” On 30th may 2024, nse indices limited, a subsidiary of national stock exchange of india limited (nse india), launched india’s 1st electric vehicle (ev) index named “nifty ev and new age automotive index”.• the index aims to track the performance of companies which are part of ev sector or engaged in the development of new-age automotive vehicles and associated technology.• the index has a base date of 2nd april 2018 and the base value of the index is 1000.• the index will be reconstituted semi-annually and rebalanced on a quarterly basis.• at present, there are 17 thematic indices on the ns, which includes nifty commodities, nifty india consumption, nifty cpse, among others.”

” On 28th may 2024, the united nations development programme (undp) and the global environment facility (gef) jointly launched a new usd 135 million blue and green islands integrated program (bgi-ip), a transformative and comprehensive initiative designed to address pressing environmental challenges faced by small island developing states (sids).• the initiative was launched during the 4th international conference on sids (sids4) held in antigua and barbuda from 27th to 30th may 2024 under the overarching theme of “charting the course toward resilient prosperity”.• this will support 15 sids, which were selected through a competitive “expressions of interest” process, representing all sids sub-regions(the caribbean, the pacific, the atlantic, the indian ocean, and the south china sea (ais)).• the 15 sids selected out of the 39 sids are belize, cape verde, comoros, cuba, maldives, mauritius, micronesia, palau, papua new guinea, saint lucia, samoa, seychelles, timor leste, trinidad & tobago, and vanuatu.”

It is the first time india has assumed the chairmanship of the colombo process since its inception in 2003 and marks a significant step in india’s efforts to enhance cooperation and address the challenges faced by

” The central council for research in ayurvedic sciences (ccras) has launched the pharma research in ayurgyan and techno innovation (pragati-2024), an initiative to shape the future of ayurveda.• the launch took place on may 28 2024, at the india habitat centre, new delhi, delhi and inaugurated by dr.vaidya rajesh kotecha, secretary of ministry of ayush.• the initiative aims to boost research and innovation in ayurveda by fostering collaboration between ccras and the ayurveda drug industry.”

” World multiple sclerosis day(world ms)2024 was observed across the globe on 30 may to raise awareness about multiple sclerosis, a long-lasting (chronic) autoimmune disease of the central nervous system (brain and spinal cord), and campaign with everyone affected by ms.• the annual observance of world ms day is coordinated by the ms international federation (msif) and its members.• the theme for world ms day 2024-2025 is “diagnosis” under the campaign name “my ms diagnosis” and the tagline is “navigating ms together“.• the 1st world ms day was observed in 2009.”

” Morgan Stanley‘s report, the 2024 Global Economic Midyear Outlook, indicates that growth in India is becoming more broad-based across both on the consumer and business spending side. The report forecasts 6.8% growth in 2024 (against the Reserve Bank of India’s (RBI) 7%), and 6.5% in 2025, and inflation is expected to stay within the 2-6% comfort zone.• Retail inflation stands at 4.83% in April 2024 (the lowest in the past 11 months), within RBI’s comfort zone (2 – 6 %) but slightly above the ideal scenario of 4%.• India’s Gross Domestic Product (GDP) growth reached 8.4% in the October-December quarter of FY 2023-24, maintaining its position as the fastest-growing major economy.• India’s GDP is ranked 5th globally, after the United States (US), China, Germany, and Japan, with an estimated value of around USD 3.7 trillion.”

” The insurance regulatory and development authority of india (irdai) has approved the appointment of sandeep batra, as chairman of the board of directors of icici prudential life insurance company limited (icici prudential life), effective from 30 june 2024.• he will replace the incumbent m s ramachandran, who is set to retire as chairman of the board on 30 june 2024, having already completed the maximum age limit of 75 years.• batra has been associated with icici group since 2000 and has been an executive director on the board of icici bank since 2018.”

” Capital small finance bank limited (csfb), india’s first small finance bank (sfb) has announced a bancassurance corporate agency partnership with icici lombard general insurance company limited (icici lombard)• this partnership enables csfb to leverage its network and customer base to distribute icici lombard’s comprehensive suite of general insurance products, including health, motor, home, travel, and rural insurance• bancassurance is an arrangement between a bank and an insurance company allowing the insurance company to sell its products to the bank’s client base.”

” Competition commission of india (cci) approved the acquisition of up to approximately 11% shareholding by south korea based shinhan bank co., ltd. in hdfc credila financial services limited (hdfc credila) by way of subscription to shares of hdfc credila.• shinhan bank is part of the shinhan financial group, a multinational bank that has been operating in india since 1996.the cci has also granted approval for matrix pharma private limited to acquire 100% stake in tianish laboratories private limited.• mudhra labs private limited, the parent company of matrix pharma, will make a partial investment in optionally convertible debentures to support the transaction.”