Daily Current Affairs in English -31 May

 Daily Current Affairs are incorporated with the important news that made the current affairs headlines for banking or other competitive exams. Daily Current Affairs is the complete bag of the important news that held all day long. One should have complete knowledge about banking terms, current affairs news, etc. So, here is the Current affairs of 31 May 2021 to help you prepare the Current affairs part.


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1-One-year extension for RAW chief Samant Goel, IB head Arvind Kumar- Research and Analysis Wing chief, Samant Kumar Goel and Intelligence Bureau head Arvind Kumar were given a one-year extension in their services.

Goel, a 1984-batch IPS officer from Punjab cadre, would continue to be the Secretary of Research and Analysis Wing (RAW) for a period one year beyond the presence tenure which ends on June 30.

Similarly, Kumar, an IPS officer of Assam and Meghalaya cadre, will continue to head the Intelligence Bureau for a period of one year after June 30.

2- B.V.R. Subrahmanyam to be new Commerce Secretary- The appointments committee of the Cabinet (ACC) has approved the appointment of B.V.R. Subrahmanyam, Chief Secretary Jammu & Kashmir as an officer on special duty in the Department of Commerce. An order issued by the Union Ministry of Personnel, Public Grievances and Pensions.

Mr Subrahmanyam is a 1987 batch IAS officer of the Chhattisgarh cadre and was sent on deputation to Jammu and Kashmir in June 2018.

He served as Chief Secretary when the State was bifurcated into two Union Territories in 2019. He is a widely experienced bureaucrat having worked in Manmohan Singh Prime Minister’s Office as Joint Secretary

3-Louvre gets its first female leader in 228 years- Historian Laurence des Cars becomes the first female president of Musée du Louvre, the world’s largest museum in Paris, France in 228 years.

She was appointed as the first female president of Musée du Louvre by the President of France, Emmanuel Macron.

Laurence des Cars, 54, is currently heading the Musée d’Orsay, the Paris landmark museum which is dedicated to 19th-century art.

On September 1, 2021, she will replace the current president, Jean-Luc Martinez, who had been heading the Orsay museum for the past eight years.

4- Tata Digital buys 64% stake in BigBasket-Tata Digital has acquired a majority stake in online grocery BigBasket, a deal that pits the country’s largest conglomerate against entrenched e-commerce players. The digital unit of the salt-to-software group didn’t disclose the financial details of the deal.

Regulatory filings showed that it has acquired around 64% stake in Supermarket Grocery Supplies that owns BigBasket.

BigBasket board had approved the deal earlier this week and Tata Digital has infused primary capital of $200 million in the egrocer at a post-money valuation of $2 billion.

5-RBI Annual Report 2021: Highlights- 

  • RBI in its semi-annual financial stability report earlier highlighted bad loan ratio of banks could rise to 13.5% under the baseline stress scenario by September 2021.
  • The Provision Coverage Ratio (PCR) of banks improved from 66.6% in March 2020 to 75.5 % by December 2020, because of prudent provisioning by banks above regulatory prescriptions on accounts availing moratorium and undergoing restructuring.
  • The capital to risk-weighted assets ratio (CRAR) of banks increased to 15.9% by December 2020, in March it was 14.8%.
  • In its report, RBI cautioned “banks being lenders will have to provide a true picture of bad loans after Supreme Court lifted the interim stay on classifying non-performing assets (NPA) in March 2021.
  • According to it, waiver of compound interest on all loan accounts opted for a moratorium during March-August 2020 would put stress on the financial health of banks.
  • The Gross NPA ratio of banks decreased from 8.2% in March 2020 to 6.8% in December 2020.
  • The Gross NPA ratio for non-banking financial institutions (NBFCs) increased from 6.8% in March to 5.7% in December 2020.
  • The capital adequacy ratio of NBFCs increased from 24.8% in December 2020 to 23.7% in March.
  • Frauds reported by banks fell by 25% in value terms in just one year to Rs 1.38 lakh crore at the end of fiscal year ended March 2021, data released by the RBI as part of it annual report showed.
  • The Reserve Bank of India on 27th May said banknotes in circulation witnessed a higher than the average increase during 2020-21, on account of precautionary holding of cash by people due to the COVID-19 pandemic, and its prolonged continuance. Value and volume of banknotes in circulation increased by 16.8% and 7.2% respectively in 2020-21
6-  US Senate confirms Christine Wormuth as first female Army secretary-
Christine Wormuth was confirmed unanimously by the Senate to be the first female secretary of the Army.

Wormuth, who led President Joe Biden’s transition team at the Pentagon, got an overwhelmingly warm reception from members of the Senate Armed Services Committee during a hearing this month.
Her confirmation sets her up as one of the more powerful officials in a defence establishment long dominated by men. She is the second woman named to a top Pentagon role by Biden. The deputy secretary of defence is Kathleen Hicks.
7- Bashar Al-Assad Re-Elected as Syrian President for 4th Term-Syrian-  President, Bashar al-Assad has been re-elected for the fourth straight 7-year term in a landslide victory, winning 95.1 per cent of the total votes cast.
The 55-year-old Assad is serving as the 19th President of Syria since 17 July 2000.
On the eve of the election, the United States, Britain, France, Germany and Italy said the poll was “neither free nor fair”, and Syria’s fragmented opposition has called it a “farce”
8- International Day of United Nations Peacekeepers: 29 May- 
  • The “International Day of United Nations Peacekeepers” is observed on May 29 annually.
  • The day is celebrated to pay tribute to all the men and women who have served and continue to serve in United Nations peacekeeping operations for their high level of professionalism, dedication, and courage and to honour the memory of those who have lost their lives in the cause of peace.
  • The day was designated by United Nations General Assembly on December 11, 2002, and first celebrated in 2003. The 2021 Theme: “The road to a lasting peace: Leveraging the power of youth for peace and security.”
9- Amnesty International Day: 28 May-
  • Amnesty International Day is observed every year on May 28, because it was on this day in 1961 that this non-governmental organization was founded in London.
  • The Amnesty International was founded on 28 May 1961 in London, following the publication of the article “The Forgotten Prisoners” in The Observer, a British newspaper, by the lawyer Peter Benenson.
  • Amnesty International is a non-governmental organization that focuses on the protection of human rights, by working to prevent abuses to human rights, fight for justice for those whose rights have been violated, expand and enforce human rights protections in international law, by lobbying governments and other powerful groups and publicizing their violations.
  • The organisation has won the 1977 Nobel Peace Prize for its “defence of human dignity against torture,” and the United Nations Prize in the Field of Human Rights in 1978.
10- IBF to be renamed as Indian Broadcasting and Digital Foundation- 
  • The Indian Broadcasting Foundation (IBF), the apex body of broadcasters, is being renamed as Indian Broadcasting and Digital Foundation (IBDF), as it expands its purview to cover digital platforms to bring all digital (OTT) players under one roof.
  • IBDF is in the process of forming a new wholly-owned subsidiary to handle all matters pertaining to digital media.
  • IBDF will also form a Self-Regulatory Body (SRB), as per the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021 as notified by the Government of India on 25th February 2021.
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