🔆 CURRENT AFFAIRS – 3 JUNE 2026
🔆 BANKING & FINANCE
📍 UPI Payments Launched in Cambodia ✅ Indian travellers can make payments through Cambodia’s KHQR network using UPI apps ✅ Partnership between NPCI International Payments Ltd. (NIPL) and ACLEDA Bank Plc. ✅ Creates a pathway for future two-way payment interoperability between India and Cambodia
📍 Project Shikhar Launched ✅ Joint initiative of Meesho and Bombay Stock Exchange (BSE) ✅ Helps MSMEs and digital-first businesses access capital markets ✅ Supports listing on BSE SME Platform
🔆 ECONOMY
📍 IIP Base Year Revised ✅ Index of Industrial Production (IIP) base year changed from 2011–12 to 2022–23 ✅ April 2026 IIP growth slowed to 4.9% from 5.8% a year earlier ✅ New series tracks 1,042 products across 463 item groups
📍 WPI Base Year Revised to 2022–23 ✅ Government approved revision from 2011–12 to 2022–23 ✅ New indices introduced: ✅ Output Producer Price Index (OPPI) ✅ Input Producer Price Index (IPPI) ✅ Service Producer Price Index (Service PPI) ✅ WPI to continue alongside PPI for five years before phase-out
📍 India Falls to 7th Position in Global Market Capitalisation ✅ South Korea overtook India with market cap of $5.01 trillion ✅ India’s market capitalisation stood at $4.85 trillion ✅ Factors include foreign investor selling and weak corporate earnings growth
🔆 STATES
📍 Telangana Formation Day ✅ Observed on 2 June every year ✅ Telangana became India’s 29th State on 2 June 2014 ✅ Formed after bifurcation of Andhra Pradesh ✅ K. Chandrashekar Rao founded Telangana Rashtra Samithi in 2001
🔆 NATIONAL
📍 MAHA Water Mission Launched ✅ Joint initiative of Ministry of Jal Shakti and ANRF ✅ Total outlay: ₹200 crore over five years ✅ Supports water-sector research, innovation and startups ✅ Themes include water quality, drinking water and climate resilience
🔆 INTERNATIONAL
📍 AUKUS Launches Underwater Drone Programme ✅ Joint programme launched by Australia, UK and USA ✅ Developed under AUKUS Pillar Two ✅ Focus on advanced Uncrewed Undersea Vehicles (UUVs) ✅ First delivery expected by 2027
📍 Bangladesh to Lead 81st UN General Assembly ✅ Khalilur Rahman elected President of the 81st UNGA Session ✅ Secured 99 votes out of 190 ballots cast ✅ Session begins on 8 September 2026
🔆 INDIA & THE WORLD
📍 India–Oman CEPA Comes into Force ✅ Effective from 1 June 2026 ✅ Oman grants duty-free access on 99.38% tariff lines ✅ Covers 98.08% of India’s exports to Oman ✅ One of India’s most comprehensive trade agreements in the Gulf region
🔆 AGREEMENTS & MoUs
📍 GMDC–Cambridge Partnership ✅ AI-powered Rare Earth Observatory to be established at iCEM ✅ Will track the Rare Earth Elements value chain from mine to magnet ✅ Project investment: £600,000 over two years
📍 BHASHINI and DPIIT Sign MoU ✅ Aims to expand multilingual access across India’s investment ecosystem ✅ Supports all 22 languages of the Eighth Schedule ✅ Uses AI tools such as translation, speech-to-text and text-to-speech
🔆 AWARDS & RECOGNITIONS
📍 Sagar Aankalan Award 2024–25 ✅ Deendayal Port Authority won Best Performing Port Award ✅ Category: Container Cargo Handling (Less than 0.5 Million TEUs) ✅ Formerly known as Kandla Port Trust
📍 Earth Prize 2026 ✅ Indian students Vivaan Chhawchharia, Ariana Agarwal and Avyana Mehta won the award ✅ Developed “Plas-Stick”, a biodegradable material that removes microplastics from water ✅ First Indian team to win the global award
🔆 RANKS & REPORTS
📍 Forbes Rich List – June 2026 ✅ Elon Musk remained world’s richest person ✅ Estimated net worth: USD 835 billion ✅ Larry Page and Sergey Brin ranked 2nd and 3rd respectively ✅ Jensen Huang entered Top 10 amid AI-driven semiconductor boom
🔆 IMPORTANT DAYS
📍 World Milk Day – 1 June ✅ Theme: “Celebrating Women Farmers”
🔆 DEFENCE
📍 Divyastra Mk-1 Successfully Tested ✅ Indigenous AI-powered loitering munition developed by Hoverit ✅ Designed for Intelligence, Surveillance, Reconnaissance (ISR) and precision strikes ✅ Operational trials conducted in Jodhpur
#CurrentAffairs