Daily Current Affairs – 1 June 2026 covers the most important national, international, banking, finance, sports, appointments and science & technology updates of the day. This curated compilation, sourced from credible newspapers, news agencies and Government of India websites (PIB, RBI, ISRO, MEA), is specifically designed for aspirants preparing for Bank PO, SSC, RBI Grade B, NABARD, IBPS, SBI PO/Clerk and other competitive examinations. At the end of the article, attempt the 5 Multiple Choice Questions (MCQs) based on today’s news to test your preparation.

National News

1. World Milk Day Observed Across India – Theme “Celebrating Women Farmers”

World Milk Day was observed on 1 June 2026 across India and more than 100 countries worldwide. Established by the Food and Agriculture Organization (FAO) of the United Nations, the day promotes consumption of milk and dairy products and recognises the role of the dairy sector. The 2026 theme is “Celebrating Women Farmers”, recognising the central role of women in India’s dairy economy. India continues to be the world’s largest producer of milk, contributing nearly 24% of global milk production, with the National Dairy Development Board (NDDB) spearheading the “White Revolution 2.0”.

2. Cotton Import Duty Exemption Notified by Centre

The Central Government has notified full exemption from customs duty on the import of cotton with effect from 1 June 2026 to 31 October 2026. The exemption is aimed at easing raw material supply for the domestic textile industry and stabilising cotton yarn prices, while balancing the interests of cotton farmers ahead of the new kharif sowing season. The notification was issued by the Ministry of Finance (Department of Revenue).

3. Nationwide “Khet Bachao” Campaign Launched

The Government of India has launched the “Khet Bachao” (Save Farmland) Campaign, scheduled to run from 1 June to 30 June 2026 across the country. The campaign aims to create awareness about soil health, sustainable agriculture, prevention of farmland diversion and protection of agricultural land from unscientific land-use changes. The campaign is being coordinated by the Ministry of Agriculture & Farmers Welfare in collaboration with State governments and Krishi Vigyan Kendras (KVKs).

4. Padma Awards 2026 – Civil Investiture Ceremony

The Prime Minister attended the Civil Investiture Ceremony-I (Padma Awards 2026) at Rashtrapati Bhavan, New Delhi. The President of India conferred Padma Vibhushan, Padma Bhushan and Padma Shri awards on distinguished citizens for exceptional and distinguished service in fields such as art, social work, public affairs, science & engineering, trade & industry, medicine, literature & education, sports, and civil service.

International News

5. 22nd Shangri-La Dialogue Concludes in Singapore

The 22nd Shangri-La Dialogue, Asia’s premier inter-governmental security forum, concluded in Singapore. The summit, organised annually by the International Institute for Strategic Studies (IISS), was attended by defence ministers and senior officials from over 40 countries. Discussions centred on Indo-Pacific security, maritime stability in the South China Sea, AI in warfare and supply-chain resilience. The US Secretary of Defense delivered the keynote address, while India was represented at the ministerial level reiterating support for a free, open and inclusive Indo-Pacific.

6. India – Cyprus Bilateral Meeting in New Delhi

The Prime Minister of India held bilateral talks with the President of the Republic of Cyprus, Mr. Nikos Christodoulides, at Hyderabad House, New Delhi. The two leaders discussed cooperation in trade and investment, shipping, defence, digital economy and the India–Middle East–Europe Economic Corridor (IMEC). Cyprus, which assumes the Presidency of the Council of the European Union in the first half of 2026, expressed strong support for the India–EU Free Trade Agreement negotiations.

7. WHO Director-General Visits DR Congo Amid Rare Ebola Outbreak

The Director-General of the World Health Organization (WHO), Dr. Tedros Adhanom Ghebreyesus, arrived in Kinshasa, Democratic Republic of Congo, to review the response to an outbreak of a rare strain of the Ebola virus. The WHO has scaled up support including vaccines, contact tracing and field laboratories, in coordination with Africa CDC.

News Related to Indian Banking and Finance

8. RBI Monetary Policy Committee (MPC) Meeting Scheduled 3–5 June 2026

The Reserve Bank of India (RBI) Monetary Policy Committee (MPC), chaired by Governor Shri Sanjay Malhotra, will hold its second bi-monthly monetary policy meeting of FY 2026–27 from 3 to 5 June 2026. The policy resolution will be announced on 5 June 2026. Economists widely expect the MPC to keep the repo rate unchanged at 5.25% for the third consecutive meeting and maintain a neutral stance, given that headline CPI inflation ticked up from 3.2% in February to 3.5% in April 2026 amid firmer crude oil prices. RBI’s projected real GDP growth for FY 2026–27 stands at 6.9%.

9. UPI Continues to Anchor India’s Digital Economy

The Unified Payments Interface (UPI), developed by the National Payments Corporation of India (NPCI), continues to be the world’s largest real-time payments platform. UPI now handles around 66 crore transactions per day, amounting to nearly ₹0.86 lakh crore in daily value. In March 2026, UPI recorded its highest-ever monthly volume of 2,264 crore transactions. For FY 2025–26, total UPI transactions stood at 24,162 crore — an almost 12,000-fold rise from FY 2016–17 — with transaction value at approximately ₹314 lakh crore. UPI now powers around 85% of India’s digital payment volume through 700+ participating banks.

10. New Digital Banking Customer Protection Rules from 1 July 2026

The Reserve Bank of India has notified new customer protection rules for digital banking which will come into force from 1 July 2026. The framework strengthens the limited customer liability principle for unauthorised electronic transactions, mandates faster compensation where the loss is genuine and reported within five working days, and tightens KYC norms for digital onboarding by banks and Payment System Operators (PSOs).

News Related to International Banking and Finance

11. IMF & World Bank Project Slower Global Growth, Lower Inflation in 2026

According to the latest assessments by the International Monetary Fund (IMF) and the World Bank, global headline inflation is expected to decline from an estimated 4.1% in 2025 to 3.8% in 2026 and further to 3.4% in 2027. Real per-capita income growth is projected to average around 2.8% in 2026–27, which remains insufficient to fully recover pandemic-era losses. China’s growth is projected to slow to 4.4% in 2026 due to structural headwinds, while growth in the East Asia and Pacific region is expected at 4.4% and in Latin America & Caribbean at 2.3%. IMF Managing Director Ms. Kristalina Georgieva noted that near-term demand for IMF financing could touch USD 50 billion, while World Bank President Mr. Ajay Banga indicated USD 20–25 billion in rapid financing capacity.

12. Global Risks – Trade Frictions and Financial Conditions

The IMF’s Global Financial Stability Report and World Bank’s Global Economic Prospects have flagged that risks to the global outlook remain tilted to the downside. Key risks include renewed trade frictions, tighter global financial conditions, elevated fiscal vulnerabilities, rising geopolitical tensions and climate- and public-health-related shocks.

International Sports Events

13. Roland-Garros (French Open) 2026 – Round of 16 Underway in Paris

The second Grand Slam of the year, Roland-Garros 2026 (French Open), being played from 24 May to 7 June 2026 in Paris, entered the Round of 16 stage on 1 June 2026. The day’s order of play featured men’s and women’s singles Round of 16, doubles third round and mixed doubles quarter-finals. Roland-Garros is one of the four annual Grand Slam tournaments and the only one played on clay courts.

14. FIBA 3×3 Basketball World Cup Begins in Warsaw

The FIBA 3×3 Basketball World Cup 2026 commenced on 1 June 2026 in Warsaw, Poland, and will run till 7 June 2026. The tournament features both men’s and women’s competitions and is the flagship event for the Olympic discipline of 3×3 basketball, organised by the International Basketball Federation (FIBA).

15. Rabat Diamond League – Athletics

The Rabat Diamond League athletics meet was held on 31 May 2026 in Rabat, Morocco, as part of the Wanda Diamond League 2026 season, with elite performances in sprints, throws and middle-distance events.

Major National or International Appointments

16. Sanjay Malhotra Continues as RBI Governor; MPC Meet Coming Up

Shri Sanjay Malhotra continues as the 26th Governor of the Reserve Bank of India and will chair the upcoming MPC meeting from 3–5 June 2026.

17. Justice Surya Kant – 53rd Chief Justice of India

Justice Surya Kant continues to serve as the 53rd Chief Justice of India (CJI). The year 2026 is significant for the Supreme Court of India, with five sitting judges scheduled to retire between April and November 2026, opening up key vacancies in the apex court.

18. Ms. Nidhi Chhibber – CEO, NITI Aayog (Additional Charge)

Ms. Nidhi Chhibber, IAS, holds the additional charge of Chief Executive Officer (CEO) of NITI Aayog, the Government of India’s premier policy think tank.

19. UN Secretary-General Selection – Interactive Dialogues in June 2026

The United Nations General Assembly will hold interactive dialogues with candidates for the position of Secretary-General in June 2026. The five officially nominated candidates so far are: Michelle Bachelet (Chile), María Fernanda Espinosa (Ecuador), Rafael Grossi (Argentina), Rebeca Grynspan (Costa Rica) and Macky Sall (Senegal). The incumbent, Mr. António Guterres of Portugal, will complete his term on 31 December 2026, and the next Secretary-General will assume office on 1 January 2027.

Resignation or Dismissal

20. Senior Civil Services Reshuffle – Joint Secretary Level

The Appointments Committee of the Cabinet (ACC) has effected a major reshuffle at the Joint Secretary / Joint Secretary-equivalent level, covering around 21 officers across various Ministries and Departments of the Government of India. The orders involve a mix of fresh empanelment, postings, transfers and relinquishments, and were notified by the Department of Personnel and Training (DoPT).

Major Inventions and Discoveries

21. DRDO Achieves Long-Duration Scramjet Combustor Test – Boost to Hypersonic Programme

The Defence Research and Development Organisation (DRDO), through its Defence Research and Development Laboratory (DRDL), Hyderabad, has successfully conducted a long-duration scramjet combustor ground test of over 1,200 seconds. The achievement marks a major milestone for India’s hypersonic cruise missile programme and places India among a select group of countries with mature scramjet propulsion technology. Scramjet engines breathe atmospheric oxygen, making them lighter and capable of sustained speeds above Mach 5.

22. ISRO Crosses 434 Foreign Satellite Launches

The Indian Space Research Organisation (ISRO) has so far launched 434 foreign satellites from 34 countries using its PSLV and LVM3 launch vehicles — reinforcing India’s position as a reliable, low-cost launch service provider. The new Small Satellite Launch Vehicle (SSLV) launch complex is targeted for commissioning by December 2026.

23. NASA’s Nancy Grace Roman Space Telescope – Set for Launch

NASA’s Nancy Grace Roman Space Telescope is on track for launch in autumn (Northern Hemisphere) 2026. The infrared observatory will survey the cosmos for dark energy and dark matter, conduct a microlensing survey for exoplanets and complement the James Webb Space Telescope (JWST).

24. Quantum – AI Hybrid Breakthrough

Researchers have demonstrated that artificial intelligence (AI) models trained on a quantum computer show significant performance enhancement over classical-only training, accelerating progress toward practical quantum advantage. India’s National Quantum Mission (NQM), under the Department of Science and Technology (DST), continues to support indigenous quantum computing platforms, including a 25-qubit full-stack system developed under the Mission.

Important Days – 1 June 2026

• World Milk Day – Theme: “Celebrating Women Farmers”
• Global Day of Parents (observed annually on 1 June by the United Nations)

Multiple Choice Questions (MCQs) – SSC / Bank PO Pattern

Conclusion

Today’s current affairs covered a wide range of themes important for SSC, Bank PO, RBI Grade B, NABARD and IBPS examinations — including World Milk Day, RBI’s upcoming MPC meeting, UPI digital payments milestones, India’s diplomacy with Cyprus, the Shangri-La Dialogue, Roland-Garros 2026, the FIBA 3×3 Basketball World Cup, the UN Secretary-General selection process, and major science & defence breakthroughs by DRDO, ISRO and NASA. For previous daily current affairs, visit https://plutusacademy.com/current-affairs/.

Sources: Press Information Bureau (PIB), Reserve Bank of India (RBI), NPCI, ISRO, DRDO, Ministry of External Affairs (MEA), IMF, World Bank, United Nations, FAO, WHO, FIBA, Roland-Garros, The Hindu, Business Standard, Reuters, ANI.

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