Current Affairs 03 June 2026
National Affairs
India-Oman CEPA Comes into Force on June 01, 2026; Opens Duty-Free Access for 99.38% of Indian Exports to Oman
The India-Oman Comprehensive Economic Partnership Agreement (CEPA) officially came into force on June 1, 2026, in the presence of Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoC&I), and Issa Saleh Al Shibani, Ambassador of Oman to India, in New Delhi, Delhi.
The 1st consignments availing preferential tariff benefits — agriculture and gems and jewellery exports from Mumbai (Maharashtra), Kolkata (WB), and Chennai (TN) — were also flagged off.
| Parameter | Detail |
|---|---|
| Duty-Free Export | Oman offers 99.38% of its tariff lines (covering 98.08% of India's exports) — one of the most comprehensive market access outcomes in the Gulf region |
| Previous MFN Regime | Only 15.33% of India's exports entered Oman duty-free |
| Oman's Import Market | Nearly USD 28 billion |
| India's Liberalised Tariffs | 77.79% of total tariff lines covering 94.81% of imports from Oman |
| Services Sub-Sectors | Oman committed to 127 sub-sectors with MFN commitments in Accounting, Engineering, Medicine, IT, Education & Construction |
Mobility Under CEPA:
| Category | Maximum Stay |
|---|---|
| Business Visitors | 90 days |
| Independent Professionals | Up to 180 days |
| Intra-Corporate Transferees (ICTs) | Up to 4 years |
MoJS & ANRF Launch ₹200 Crore MAHA Water Mission to Support Water Sector Startups
The Ministry of Jal Shakti (MoJS) and the Anusandhan National Research Foundation (ANRF) jointly launched the "Missions for Advancement in High-Impact Areas (MAHA) Water Mission", a national innovation programme, during the national workshop on R&D in Water in New Delhi, Delhi.
Financial Outlay: ₹200 crore over five years; funding support of up to ₹20 crore per consortium.
Objectives: Promote innovation from laboratory to field deployment, develop scalable and localised water solutions, strengthen India's long-term water security, and foster collaboration among academia, industry, and government.
Participants: Universities, national laboratories, research organisations, startups, MSMEs, and industry partners.
Themes:
- Water Resource Assessment and Sustainable Management
- Drinking Water
- Water Quality and Ecological Health
- Water Use Efficiency and Circular Economy
- Climate Resilience and Adaptation
Union Minister Shivraj Singh Chouhan Launches Month-Long 'Khet Bachao Abhiyan' Campaign in MP
Union Minister Shivraj Singh Chouhan, MoAFW and MoRD, launched 'Khet Bachao Abhiyan' to promote sustainable agriculture, improve soil health, and raise awareness on climate-resilient farming practices, in Ramsiya village, Raisen, Madhya Pradesh (MP).
The month-long initiative commenced on June 1, 2026, and will continue until June 30, 2026.
Overview: A national campaign to reduce excessive urea use, improve soil health, and cut import dependence by addressing soil degradation and unsustainable farming.
Objective: Promotes soil-test-based balanced nutrition, green manures, organic and bio-fertilisers, and Integrated Nutrient Management (INM) through field demonstrations.
BHASHINI & DPIIT Ink MoU to Expand Multilingual Access in Investment Ecosystem
The Digital India BHASHINI Division (DIBD), under MeitY, signed an MoU with DPIIT, MoC&I, under the 'BHASHINI Seva/Sanchalan – A BHASHINI Sahayogi Program' to enhance multilingual digital capabilities across India's industry and trade ecosystem through the BHASHINI platform.
Multilingual Access: Leverages BHASHINI's AI-powered tools (translation, speech-to-text, text-to-speech) to provide investment-related information and services in all 22 Eighth Schedule languages on DPIIT platforms — reducing language barriers for entrepreneurs, startups, investors, businesses, and citizens.
Initiatives: BHASHINI Udyat, Mitra, Appmitra, and Pravakta, along with API integration and multilingual AI tools.
Capacity Building: Supports language-data contributions, awareness campaigns, capacity-building efforts, and wider adoption of multilingual AI tools.
Banking & Finance
RBI Annual Report 2025–26: Balance Sheet Expands by 20.6% to ₹91.97 Lakh Crore
The Reserve Bank of India (RBI) released the "Annual Report 2025–26" and presented it to the Central Government under Section 53(2) of the RBI Act, 1934.
| Parameter | FY26 | Growth |
|---|---|---|
| Balance Sheet Size | ₹91.97 lakh crore | +20.6% (₹15.72 lakh crore increase from ₹76.25 lakh crore) |
| Contingency Fund Transfer | ₹1.09 lakh crore | — |
| Domestic Investments | ₹22.59 lakh crore | +44.9% |
| Gold | ₹10.94 lakh crore | +63.8% |
| Foreign Investments | ₹52.68 lakh crore | +7.9% |
Fraud Cases:
| Parameter | FY26 | FY25 |
|---|---|---|
| Amount Involved | ₹48,021 crore | ₹32,803 crore (+46%) |
| Number of Cases | 10,114 | 23,722 (dipped) |
Economy & Business
HUL Inaugurates 3rd Fragrance R&D Hub in Mumbai, Maharashtra
Hindustan Unilever Limited (HUL), India's largest FMCG company, inaugurated its new Unilever Fragrance Hub (UFH) at the IIT Bombay campus in Mumbai, Maharashtra — the 3rd such global facility after the UK and the USA.
Developed as part of HUL's EUR 100 million investment programme for in-house, digitally-enabled fragrance creation capabilities.
| Parameter | Detail |
|---|---|
| Estimated Cost | ₹95 crore |
| Technology | Integrates consumer insights, advanced science & AI for fragrance innovation |
| Key Target | 20% reduction in product development cycles |
| R&D Impact | Expected to expand India's R&D footprint by nearly 25% in the sensory segment; supports over 30 local and premium brands |
Awards & Recognitions
Forbes World's Top 10 Richest People 2026: Elon Musk Leads Globally
Forbes released its latest World's Top 10 Richest People rankings (June 2026). Elon Musk, CEO of Tesla and SpaceX, retained the top spot since May 2024.
| Rank | Name | Company/Affiliation | Net Worth (USD) |
|---|---|---|---|
| 1 | Elon Musk | Tesla & SpaceX | $835 billion |
| 2 | Larry Page | Alphabet Inc. (Google) | $309 billion |
| 3 | Sergey Brin | Alphabet Inc. (Google) | $285 billion |
| 4 | Jeff Bezos | Amazon & Blue Origin | $277 billion |
| 5 | Larry Ellison | Oracle Corporation | $276 billion |
| 6 | Michael Dell | Dell Technologies | $260.1 billion |
| 7 | Mark Zuckerberg | Meta | $206.1 billion |
| 8 | Jensen Huang | NVIDIA | $193.7 billion |
| 9 | Bernard Arnault | LVMH | $149.1 billion |
| 10 | Steve Ballmer | Former CEO, Microsoft | $143.5 billion |
Union Minister Sarbananda Sonowal Presents 'Sagar Aankalan' Award to DPA for Best Port Performance
Deendayal Port Authority (DPA), formerly Kandla Port Trust in Kandla (Gujarat), bagged the best-performing port under the 'Handling of Container Cargo — less than 0.5 Million TEUs' category at the Sagar Aankalan — LPPI for FY25.
Presented by Union Minister Sarbananda Sonowal, MoPSW, to Nilabhra Dasgupta, Deputy Chairman of DPA, during JNPA's 37th anniversary function in Mumbai, Maharashtra.
Other Key Winners:
| Category | Winner | Location |
|---|---|---|
| Dry Bulk Cargo (5 million+ tonnes) — 1st Position | Paradip Port Authority (PPA) | Odisha |
| Liquid Bulk Cargo — Top Position | Sikka Port and Terminals Limited (SPTL) | Jamnagar, Gujarat |
| Liquid Bulk Cargo — 2nd Position (5 million+ tonnes) | Visakhapatnam Port Authority (VPA) | AP |
PPA also secured 3rd position for outstanding overall performance in handling cargo (less than 0.5 Million TEUs).
Acquisitions & Mergers
Mahindra-Manulife JV Receives MCA Approval for Incorporation of MMIL
The Ministry of Corporate Affairs (MCA) approved the incorporation of Mahindra Manulife Insurance Limited (MMIL), a 50:50 life insurance joint venture between the Mahindra Group (India) and Manulife Financial Corporation (MFC) (Canada), aimed at delivering AI-native, digitally-led insurance solutions under the vision of "Insurance for All."
| Parameter | Detail |
|---|---|
| Leadership | Suresh Agarwal appointed as MD & CEO-designate |
| Positioning | AI-native, digitally-led, customer-first insurer using AI, data-driven underwriting & digital engagement |
| Products | Savings, protection & needs-based insurance for rural, semi-urban & urban customers |
| Strategy | Combines Mahindra's distribution strength with Manulife's insurance expertise |
Science & Technology
Indian Army Tests Divyastra Mk-1 Built for Intelligence, Surveillance
The Indian Army successfully completed operational trials of the Divyastra Mk-1, an advanced indigenous AI-powered tactical loitering munition system in Jodhpur, Rajasthan.
Developed by Hoverit to strengthen intelligence, surveillance, and reconnaissance (ISR) capabilities along India's border regions.
Overview: An indigenous tactical UAV for ISR and precision strike missions.
Loitering Munition: An aerial system that loiters over an area before striking a target. Features AI and swarm capabilities for autonomous navigation, target recognition, and coordinated strikes and decoy missions.
Environment
New Species Mesalina bishnoi Discovered in Rajasthan; First Record of Genus Mesalina in India
Scientists from the Zoological Survey of India (ZSI) discovered a new lizard species, Mesalina bishnoi, near Gajner in Bikaner district, Rajasthan — the first confirmed record of the genus Mesalina in India, following field surveys in August 2025.
Named in honour of the Bishnoi community for its conservation ethos.
| Parameter | Detail |
|---|---|
| Overview | Small, fast-moving, diurnal lizard (snout-vent length ~39.2 mm); found in the Thar biogeographic province of Rajasthan |
| Identification | Greyish to olive-brown coloration with dorsolateral stripes, black markings behind the eyes & white-spotted mottled camouflage; family Lacertidae |
| Methodology | Morphological examination + mitochondrial DNA analysis; distinct evolutionary lineage within the Mesalina watsonana species complex |
| Significance | Expands India's reptile biodiversity; validates earlier unconfirmed records; highlights hidden Thar Desert biodiversity |
Sports
Indian Women's Team Wins 10 Medals Including 2 Gold at U17 Asian Wrestling Championships 2026 in Vietnam
The Under 17 (U17) Asian Wrestling Championships 2026 was held in Da Nang, Vietnam from May 28–31, 2026. The Indian Women's wrestling team secured a 100% podium finish with 10 medals (2 Gold, 3 Silver, 5 Bronze) across all 10 weight categories.
Organised by the United World Wrestling (UWW) across three disciplines — Men's Freestyle (FS), Men's Greco-Roman (GR), and Women's Wrestling (WW).
Indian Medallists (WW):
| Medal | Athlete | Weight Category |
|---|---|---|
| 🥇 Gold | Diksha | 43 kg |
| 🥇 Gold | Garima | 73 kg |
| 🥈 Silver | Nikita | 49 kg |
| 🥈 Silver | Antra | 65 kg |
| 🥈 Silver | Taniya | 69 kg |
| 🥉 Bronze | Palak | 40 kg |
| 🥉 Bronze | Anamika | 46 kg |
| 🥉 Bronze | Akshra | 53 kg |
| 🥉 Bronze | Sakshi | 57 kg |
| 🥉 Bronze | Manya | 61 kg |
Obituary
Oscar-Winning 'Star Wars' Editor Marcia Lucas Passes Away at 80
Marcia Lou Griffin (Marcia Lucas), the Academy Award-winning film editor best known for her contributions to the original Star Wars trilogy, passed away at the age of 80 in Rancho Mirage, California, USA. Born on October 4, 1945, in Modesto, California.
Profile: One of the pioneering women editors of Hollywood's New Hollywood era.
Career: Began film editing in the late 1960s; gained prominence through collaborations with filmmakers George Lucas and Martin Scorsese.
Awards:
- Won the Academy Award for Best Film Editing for Star Wars: Episode IV – A New Hope (1978)
- Academy Award nomination for American Graffiti
- BAFTA Award nomination for Taxi Driver
Important Days at a Glance
| Date | Event | Key Theme / Significance |
|---|---|---|
| June 1 | World Milk Day (WMD) | Theme 2026: "Celebrating Women Farmers". Established in 2001 by the Food and Agriculture Organization (FAO) of the UN. First observed on 1 June 2001. June 1 chosen as many countries celebrate National Milk Day around the same time. |
| June 2 | International Sex Workers' Day | Also known as International Whores' Day. Originates from 2 June 1975, when 100+ sex workers occupied Saint-Nizier Church in Lyon, France, launching an eight-day strike against violence and police harassment. First observed on 2 June 1975. UK-based NPO Global Network of Sex Work Projects (NSWP) marks the day with the theme focused on "Access to Justice". |
Current Affairs 03 June 2026 Oneliner Question Answer
1. India-Oman CEPA came into force on which date?
Answer: 1 June 2026.
2. Under the India-Oman CEPA, what percentage of India's exports to Oman will receive duty-free access?
Answer: 98.08% of India's exports.
3. Which Union Minister was present during the implementation of the India-Oman CEPA?
Answer: Piyush Goyal.
4. Which ministry jointly launched the ₹200 crore MAHA Water Mission with ANRF?
Answer: Ministry of Jal Shakti (MoJS).
5. What is the total financial outlay of the MAHA Water Mission?
Answer: ₹200 crore.
6. What is the maximum funding available per consortium under the MAHA Water Mission?
Answer: ₹20 crore.
7. Which Union Minister launched the 'Khet Bachao Abhiyan' campaign?
Answer: Shivraj Singh Chouhan.
8. The 'Khet Bachao Abhiyan' was launched in which state?
Answer: Madhya Pradesh.
9. BHASHINI signed an MoU with which department to enhance multilingual digital access?
Answer: Department for Promotion of Industry and Internal Trade (DPIIT).
10. BHASHINI will support how many Eighth Schedule languages on DPIIT platforms?
Answer: 22 languages.
11. By what percentage did the RBI's balance sheet expand in FY26?
Answer: 20.6%.
12. What was the size of the RBI's balance sheet as of March 31, 2026?
Answer: ₹91.97 lakh crore.
13. Which FMCG company inaugurated its third global Unilever Fragrance Hub in Mumbai?
Answer: Hindustan Unilever Limited (HUL).
14. The new Unilever Fragrance Hub is located at which institution?
Answer: IIT Bombay.
15. Who topped Forbes World's Richest People List (June 2026)?
Answer: Elon Musk.
16. Who ranked second in Forbes World's Richest People List (June 2026)?
Answer: Larry Page.
17. Which port received the 'Sagar Aankalan' Award for Best Port Performance in container cargo (less than 0.5 million TEUs)?
Answer: Deendayal Port Authority (DPA).
18. Which ministry approved the incorporation of Mahindra Manulife Insurance Limited (MMIL)?
Answer: Ministry of Corporate Affairs (MCA).
19. Who was appointed as the MD and CEO-designate of Mahindra Manulife Insurance Limited?
Answer: Suresh Agarwal.
20. What is the name of the AI-powered loitering munition system successfully tested by the Indian Army?
Answer: Divyastra Mk-1.
21. Divyastra Mk-1 was developed by which company?
Answer: Hoverit.
22. Which new lizard species was discovered in Rajasthan by scientists from ZSI?
Answer: Mesalina bishnoi.
23. Mesalina bishnoi was named in honour of which community?
Answer: Bishnoi community.
24. Which country hosted the U17 Asian Wrestling Championships 2026?
Answer: Vietnam.
25. How many medals did the Indian Women's team win at the U17 Asian Wrestling Championships 2026?
Answer: 10 medals.
26. Which two Indian wrestlers won gold medals at the U17 Asian Wrestling Championships 2026?
Answer: Diksha and Garima.
27. Which Oscar-winning 'Star Wars' film editor passed away in June 2026?
Answer: Marcia Lucas.
28. World Milk Day is observed every year on which date?
Answer: 1 June.
29. What is the theme of World Milk Day 2026?
Answer: "Celebrating Women Farmers."
30. International Sex Workers' Day is observed every year on which date?
Answer: 2 June.
31. International Sex Workers' Day originated from a protest held in which city?
Answer: Lyon, France.
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