02nd-03rd June, 2024

1. Hyderabad is no longer the joint capital of Telangana and Andhra Pradesh
2. Listed CPSUs to pay record Rs 1.26 trillion equity dividend for FY24
3. SBI becomes the first Public sector bank (PSB) to cross an M-Cap of Rs. 8 trillion
4. Adani Group launches cobranded credit cards with ICICI Bank, enters financial services
5. China Lands Spacecraft on the Far Side of the Moon
6. Indian-American Bruhat Soma Wins National Spelling Bee
7. Real Madrid Win 15th Champions League Title
8. Nishant Dev becomes the first Indian male boxer to secure a Paris Olympics quota
9. Claudia Sheinbaum becomes the first female president of Mexico
10. Ruchira Kamboj, the first Indian woman Permanent Representative to the UN retires
11. Pawan Goenka the Chairman of IN-SPACe has made a statement that ‘India’s goal is to have $44 bn space economy by 2033’
12. Deep Tech

State News

1. Hyderabad is no longer the joint capital of Telangana and Andhra Pradesh
   • What: As of June 2, 2024, Hyderabad is no longer the joint capital of Telangana and Andhra Pradesh (AP).
   • Why: According to the Andhra Pradesh Reorganization Act of 2014, Hyderabad served as the common capital for both states (Telangana and AP) for a period not exceeding ten years after their bifurcation in 2014.
   • Tell me more:
     • However, starting from June 2, 2024, Hyderabad exclusively serves as the capital city of Telangana.
     • Telangana itself came into existence on June 2, 2014, following the passage of the AP Reorganisation bill in Parliament in February 2014.
     • Andhra’s efforts for new Capital
       • Championing decentralization and welfare-centric governance, the CM of AP, Mr. Jagan Mohan Reddy has projected Amaravati as the legislative capital, Kurnool as the judicial capital, and the port city of Visakhapatnam as the executive capital.
       • However, due to legal reasons, three capitals can’t be formed.
       • So, while the final decision for the new capital is yet to be determined, Amaravati remains the de facto capital of Andhra Pradesh for now.
         Source: Economic Times

Banking and Economy

1. Listed CPSUs to pay record Rs 1.26 trillion equity dividend for FY24
   • What: Led by a sharp surge in payouts by oil-marketing companies and public-sector lenders, including banks and Life Insurance Corporation, central public-sector undertakings (CPSUs) will payout an all-time high dividend of around Rs 1.26 trillion (1.26 lakh crores) in FY24, up 28.7 percent from around Rs 97,750 crore in FY23.
     • This includes the interim dividend paid by listed CPSUs in the first three-quarters of FY24.

   • Tell me more:
     • Government share: Nearly 60 percent of this dividend will go to the central government as the promoter’s share.
       • As a result, the central government is expected to earn Rs 76,166 crore, up 28.2 percent from the Rs 59,406 crore in FY23.
       • With this, in the last five years, dividend payment by CPSUs has increased at a compound annual growth rate (CAGR) of 19.2 percent.

     • The Interim Budget, presented in February this year, had projected dividends and profit receipts of Rs 1.54 trillion (1.54 lakh crores) from public-sector enterprises, including the RBI.
       • However, RBI alone has announced a dividend of 2.11 lakh crore in FY24 alone

2. SBI becomes the first Public sector bank (PSB) to cross an M-Cap of Rs. 8 trillion
   • What: The State Bank of India (SBI) became the first public sector bank and the seventh Indian company to cross the Rs 8 trillion market capitalization (m-cap).
     • Market capitalization is a measure of the total market value of a company’s outstanding shares.
     • It is calculated by multiplying the number of shares by the current market price of one share.

   • Tell me more:
     • Earlier, Reliance Industries, Tata Consultancy Services, HDFC Bank, Bharti Airtel, Infosys, and ICICI Bank have all attained this milestone.
     • Note: HDFC Bank and ICICI Bank are the only banks with m-cap of over Rs 8 trillion.
       Source: Business Standard

3. Adani Group launches cobranded credit cards with ICICI Bank, enters financial services
   • What: Adani Group, in collaboration with ICICI Bank, and VISA Cards has entered into the Indian financial sector by launching a co-branded credit card.
   • Tell me more:
     • The venture is integrated with the Adani One app (the super app developed by the Adani group in the year 2022)
     • The credit card operates on the Visa card and offers rewards for spending within the Adani ecosystem.
       • For services like train, flight, hotel bookings, and Adani-owned airports.
         Source: Times of India

Science and Technology

1. China Lands Spacecraft on the surface of the Moon
   • What: China successfully landed a lunar lander named Chang’e-6 on the moon’s South Pole-Aitken basin (also known as the far side of the moon)
     • So far, no other country has landed on that half of the moon.

   • About the South Pole-Aitken Basin: It is an impact crater created more than 4 billion years ago that is 13 kilometers (8 miles) deep and has a diameter of 2,500 kilometers (1,500 miles).
   • Aim of the mission: To bring the lunar soil from the moon to the earth.
   • Tell me more:
     • Note: India’s Chandrayaan-3 mission landed on the South Pole of the Near Side of the Moon
     • About the Far side of the Moon
       • It refers to the hemisphere of the Moon that always faces away from Earth (hence also referred to as the dark side of the Moon).
       • Soviet Union’s Luna 3 spacecraft took the first photo of this side of the Moon
       • It has a thicker crust, more craters, and fewer lava plains than near side
   • A list of Countries that have successfully landed on the moon

• An impact landing is when a spacecraft reaches the Moon’s surface without any controlled descent, essentially crashing onto it.
• On the other hand, a soft landing refers to a controlled descent that results in the spacecraft touching down gently to avoid damage
  Source: CNN

Awards

1. Indian-American Bruhat Soma Wins National Spelling Bee
   • What: Bruhat Soma, a seventh-grade Indian-American student from Florida, has emerged victorious at the 2024 Scripps National Spelling Bee.
   • A spelling bee is a competition where participants are asked to spell words orally.

Source: Money Control

Sports

1. Real Madrid win its 15th Champions League Title
   • What: Football club Real Madrid has won its 15th Champions League title with a 2-0 win over Borussia Dortmund.
   • The Champions League, known as the European Cup until 1992, is the most prestigious club competition in European football. It began in the 1955-56.
   • The competition was rebranded as the Champions League in 1992-93.
   • A list of major football tournaments:

2. Nishant Dev becomes the first Indian male boxer to secure a Paris Olympics quota
   • What: Nishant Dev has become the first Indian male boxer to secure a Paris Olympics Games quota.
     • Olympic Quota: An Olympic quota is a place or slot allocated to a country or athlete for participation in the Olympic Games.
     • These quotas are designed to limit the number of athletes competing and prevent a small number of countries from dominating specific events.

   • This remarkable achievement came during the Boxing Olympic qualifiers.
     • Nishant (competing in the 71kg weight class category), after reaching the semi-finals has fixed his spot for the Paris Olympics.
   • With this achievement, Nishant joins three women qualifiers —Nikhat Zareen (50kg category), Preeti Sai Pawar (54kg category), and Lovlina Borgohain (75kg category)—who had already confirmed their berths by winning bronze medals at the 2022 Asian Games.

Source: The Times of India

Appointments

1. Claudia Sheinbaum becomes the first female president of Mexico
   • What: Claudia Sheinbaum has become Mexico’s first female president.
   • She will be replacing Andrés Manuel López Obrador, as the President of Mexico.

Source: Reuters

2. Ruchira Kamboj, the first Indian woman Permanent Representative to the UN retires
   • What: Ruchira Kamboj, India’s first woman Permanent Representative to the United Nations, has retired after an illustrious 35-year diplomatic career.
   • She became the Permanent Representative/Ambassador of India to New York in 2022.
   • What is a Permanent Representative to the United Nations
     • A permanent representative to the United Nations (sometimes called a “UN ambassador”) is the head of a country’s diplomatic mission to the United Nations.
       Source: India TV

Miscellaneous

1. Pawan Goenka the Chairman of IN-SPACe has made a statement that ‘India’s goal is to have $44 bn space economy by 2033’
   • About IN-SPACe
     • Indian National Space Promotion and Authorisation Centre (IN-SPACe) is a single-window, independent, nodal agency that functions as an autonomous agency in the Department of Space (DOS).
     • It is formed to enable and facilitate the participation of private players.
     • IN-SPACe Headquarters: Ahmedabad, Gujarat

2. Deep Tech
   • What: Deep technology, or deep tech, refers to advanced technologies based on some form of substantial scientific or engineering innovation.
   • The innovations are “deep” in that they are sophisticated, very advanced answers to complex challenges or issues.
     • Examples of deep-tech breakthroughs include genomics, robotics, nanotechnology and clean energy initiatives coming from research labs and academia.

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