Table of Contents
Daily Current Affairs 3rd June 2026 Daily GK Update
Current Affairs Quiz 2025, Daily gk updates and Current affairs play a major role in any competitive exam. so here we are providing the current affairs quiz daily for Bank, SSC, Railway and Other Government Competitive Examinations.
Here you can find Current Affairs Quiz for IBPS PO Mains, Current Affairs Quiz for IBPS RRB PO Mains, Current Affairs Quiz for IBPS RRB Clerk Mains, Current Affairs Quiz for RBI Assistant Mains, Current Affairs Quiz for RBI Grade B, and Current Affairs Quiz for SSC.
National News
India–Oman CEPA Comes into Force from 1 June 2026; Boosts Duty-Free Access for 99.38% of Indian Exports
- India and Oman officially operationalized the Comprehensive Economic Partnership Agreement (CEPA) on 1 June 2026, marking a major step in strengthening bilateral trade and economic cooperation.
- Under the agreement, Oman has provided duty-free access to 99.38% of India’s exports by value, while the concessions cover 98.08% of Oman’s tariff lines.
DPIIT and BHASHINI Sign MoU to Boost Multilingual AI and Digital Access Across India’s Investment Ecosystem
- The Digital India BHASHINI Division (DIBD) under Digital India Corporation and the Department for Promotion of Industry and Internal Trade signed an MoU under the “BHASHINI Seva/Sanchalan – A BHASHINI Sahayogi Program” to enhance multilingual digital infrastructure in India.
- The collaboration aims to enable multilingual access, governance, and service delivery across all 22 Eighth Schedule languages, integrating BHASHINI tools such as Udyat, Mitra, Appmitra, and Pravakta, along with AI-based translation APIs and language models.
- The initiative will strengthen an inclusive investment and innovation ecosystem by reducing language barriers in startup, industrial, and government services through voice-enabled, AI-driven multilingual technologies.
India Sends LoR to France for 114 Rafale Fighter Jets
- India has formally issued a Letter of Request (LoR) to France for the procurement of 114 Rafale fighter aircraft under a government-to-government (G2G) deal estimated at around ₹3.25 lakh crore.
- Dassault Rafale is a 4.5-generation multi-role fighter aircraft developed and manufactured by Dassault Aviation, and is expected to significantly enhance the Indian Air Force’s combat capabilities.
Project UDAYAK Completes 36 Years of Strengthening Strategic Infrastructure in Eastern Arunachal Pradesh
- Project UDAYAK was originally raised on 1 June 1990 as part of the restructuring of BRO to focus on infrastructure development in the far-eastern region of the country.
- The project is responsible for developing and maintaining strategic road and bridge infrastructure in eastern Arunachal Pradesh.
Banking And Financial News
GST Collections Rise to ₹1.94 Lakh Crore in May 2026
- India’s gross GST collections increased by 2% year-on-year to ₹1.94 lakh crore in May 2026, compared to ₹1.88 lakh crore collected in May 2025.
- GST revenue from domestic transactions included CGST of ₹37,397 crore, SGST of ₹45,143 crore, and IGST of ₹51,990 crore, supported by stronger goods and services activity.
- Taxable supplies of goods grew 26.9% and services grew 22.2%, indicating robust domestic demand and consumption, while GST refunds rose 2.6% to ₹27,281 crore.
GST Collection of Previous Months
- January 2026 – ₹1.93 lakh crore
- February 2026 – ₹83 Lakh Crore
- March 2026 – ₹2 lakh crore
- April 2026 – ₹2.42 lakh crore
Industrial Output Grows 4.9% in April 2026
- India’s industrial output, measured by the Index of Industrial Production (IIP), grew 4.9% in April 2026, lower than the 5.8% growth recorded in April 2025.
- The IIP base year has been revised from 2011-12 to 2022-23, and the new series expands coverage by including gas supply and water supply, sewerage & waste management activities.
- Among sectoral indices, mining and quarrying output contracted by over 5%, while the manufacturing sector grew 6.2%, slightly lower than the 6.3% growth recorded a year earlier.
UPI Sets New Record: Hits 23.2 Billion Transactions Worth ₹29.90 Lakh Crore in May 2026
- India’s Unified Payments Interface (UPI) achieved a new milestone in May 2026, recording its highest-ever monthly transaction volume and value.
- According to data released by the National Payments Corporation of India, UPI processed 23.2 billion transactions worth ₹29.90 lakh crore during the month.
- NPCI, established by the Reserve Bank of India and the Indian Banks’ Association, serves as the umbrella organization for retail payment and settlement systems in India.
IRDAI Imposes ₹1 Crore Penalty on Nissan Renault Financial Services
- The Insurance Regulatory and Development Authority of India imposed a ₹1 crore penalty on Nissan Renault Financial Services India for violations related to motor insurance service guidelines and other regulatory norms.
- The corporate agent has also been instructed to file an Action Taken Report within 90 days from the date of the order, confirming compliance with IRDAI directions.
Recent Penalties imposed on Financial Institution
- City Union Bank (₹10.10 lakh) by RBI – for non-compliance with regulatory directions
- Mintifi Finserve (₹3.10 lakh) by RBI – for non-compliance with regulatory directions
- Newa Investments (₹2.70 lakh) by RBI – for non-compliance with regulatory directions.
- YES Bank (₹31.80 lakh) by RBI – for non-compliance with certain ‘Know Your Customer (KYC)’ provisions.
- Hinduja Housing Finance Ltd (₹1.8 lakh) – for non-compliance with RBI directions related to governance norms.
Mahindra–Manulife JV Receives Incorporation Certificate
- The Mahindra and Manulife insurance joint venture has received a Certificate of Incorporation from the Ministry of Corporate Affairs, officially establishing the new company.
- The newly formed entity, Mahindra Manulife Insurance Ltd (MMIL), has now come into existence following regulatory approval.
- The venture combines Mahindra’s strong India presence with Manulife expertise to build a customer-first, AI-driven and digitally focused life insurance business.
Appointment News
Canara Bank Appoints Brajesh Kumar Singh as Managing Director
- The Government has appointed Brajesh Kumar Singh as the Managing Director of Canara Bank. He was previously serving as Executive Director of Indian Bank.
- Singh succeeds K Satyanarayana Raju, who retired in December 2025 after attaining superannuation.
- The Appointments Committee of the Cabinet (ACC) approved his appointment until April 30, 2029, while the Financial Services Institutions Bureau had recommended his name for the post in December 2025.
About Canara Bank
- Founded – 1906
- Headquarters- Bengaluru, Karnataka
- MD & CEO – Brajesh Kumar Singh
- Tagline – Together with Can
Vice Admiral Vineet McCarty Takes Charge as ANC Chief
- Vineet McCarty assumed charge as the 20th Commander-in-Chief of the Andaman and Nicobar Command on 1 June 2026 at Sri Vijaya Puram.
- He succeeded Ajay Kochhar, who relinquished command on 25 May 2026 and later assumed the role of Vice Chief of the Naval Staff.
- Commissioned into the Indian Navy on 1 July 1989, Vice Admiral McCarty is a Gunnery and Missiles specialist with over 36 years of distinguished service in the Indian Navy.
Recent Appointments in Defence Sector
- 48th Vice Chief of the Naval Staff (VCNS) – Vice Admiral Ajay Kochhar
- Director of Central Bureau of Investigation – Praveen Sood (one year extension
- Chief of Defence Staff of India – Lieutenant General NS Raja Subramani (replace Anil Chauhan)
- Chief of the Indian Navy – Vice Admiral Krishna Swaminathan;26th; (replace Admiral Dinesh Kumar Tripathi)
Sports News
India Wins 19 Medals, Finishes 2nd at Asian U-20 Athletics Championships with Best-Ever Overseas Performance
- India delivered its best-ever overseas performance at the 22nd Asian Under-20 Athletics Championships in Hong Kong, finishing 2nd overall with 19 medals (10 Gold, 5 Silver, 4 Bronze).
- Key highlights included gold in Men’s 800m by Mogali Venkatram, gold in Women’s 4×400m relay, and a junior national record of 45.05 seconds in Women’s 4×100m relay, along with a bronze in Men’s 4×400m relay.
- A total of 48 Indian athletes (30 men and 18 women) participated in the event, which also served as a qualifier for the World U-20 Athletics Championships to be held in Eugene, USA.
| Rank | Country | Gold | Silver | Bronze | Total |
| 1 | China | 14 | 9 | 2 | 25 |
| 2 | India | 10 | 5 | 4 | 19 |
| 3 | Japan | 5 | 5 | 8 | 18 |
| 4 | UAE | 5 | 0 | 1 | 6 |
| 5 | Qatar | 3 | 4 | 3 | 10 |
Science and Tech News
India’s First DORIS Ground Beacon Installed at IIT Kanpur
- India has installed its first DORIS ground beacon at the Indian Institute of Technology Kanpur, marking an important advancement in the country’s space and Earth observation capabilities.
- DORIS (Doppler Orbitography and Radio-positioning Integrated by Satellite) is a French satellite tracking system that uses ground beacons and Doppler shift measurements to determine satellite positions with centimetre-level accuracy.
- The beacon is part of a global DORIS network that supports high-precision applications such as ocean altimetry, climate studies, sea-level monitoring, glacier tracking, and satellite orbit determination.
Important Days
3 June – World Bicycle Day
- World Bicycle Day is observed every year on 3 June to recognise the bicycle as a simple, affordable, reliable, and environmentally friendly means of transportation.
- Theme 2026 – Cycling for a Greener Future
- The day was proclaimed by the United Nations General Assembly in 2018 to promote the use of bicycles for sustainable development, health, education, and social inclusion.
Obituary News
Dhanendra Kumar, First Chairman of CCI and Former IAS Officer, Passes Away at 80
- Dhanendra Kumar, the first Chairman of the Competition Commission of India and a former IAS officer, passed away at the age of 80 in New Delhi.
- A 1968-batch IAS officer of the Haryana cadre, he also represented India as an Executive Director at the World Bank and held several key administrative positions during his distinguished career.
- Dhanendra Kumar served as Chairman and Managing Director of the Haryana State Industrial Development Corporation (HSIDC) and Principal Secretary to the Haryana Chief Minister, besides being a noted author and public policy expert.
3
