Daily Current Affairs – 3rd June 2026 for Bank PO, SSC, RRB, UPSC and other competitive exam aspirants. Today’s compilation by Plutus Academy covers National News, International News, Indian and International Banking & Finance, Sports, Appointments, Resignations and Major Discoveries, sourced from PIB, RBI, ISRO, IMF, World Bank and leading newspapers (The Hindu, PIB, Reuters, AP). End the read with five exam-style MCQs to test your retention.

National News

1. Centre clears elevation of four new Supreme Court judges

The Central Government has cleared the elevation of four High Court Chief Justices and senior advocate V. Mohana as judges of the Supreme Court of India. With this, the apex court’s working strength has risen to 37 judges. The recommendations were originally made by the Supreme Court Collegium headed by Chief Justice of India Justice Surya Kant. The appointments are aimed at clearing the pendency of cases and strengthening benches handling constitutional matters.

2. RBI’s 3-day Monetary Policy Committee (MPC) meeting begins

The RBI Monetary Policy Committee, chaired by Governor Sanjay Malhotra, commenced its three-day bi-monthly meeting from 3 to 5 June 2026. The MPC resolution will be announced on 5 June 2026 at 10:00 AM IST. Economists widely expect the central bank to keep the benchmark repo rate unchanged at 5.25% for the third consecutive meeting and retain a ‘neutral’ stance, balancing inflation comfort with growth support.

3. ‘Khet Bachao Abhiyan’ rolls into Day 3

The Ministry of Agriculture & Farmers’ Welfare entered Day 3 of the month-long “Khet Bachao Abhiyan” (1–30 June 2026). The nationwide outreach focuses on balanced fertiliser use, soil-health management, sustainable farming, and reducing excess chemical fertiliser inputs. The campaign is being implemented through KVKs, ATMAs, FPOs and State Agriculture Departments.

4. India–Oman Comprehensive Economic Partnership Agreement (CEPA) enters into force

The India–Oman CEPA has officially come into effect, making India the second nation in the world—after the United States—to sign a comprehensive bilateral trade pact with the Sultanate of Oman. The agreement is expected to give Indian exports of textiles, engineering goods, pharmaceuticals and agro-products preferential duty access into the Gulf Cooperation Council (GCC) region.

5. Mission Sikkim Organics announced under MDoNER

The Ministry of Development of North-Eastern Region (MDoNER) announced the “Mission Sikkim Organics” with a ₹360 crore outlay, benefiting nearly 66,000 farming families. The package focuses on certified organic farming, cold-chain infrastructure, post-harvest management and branding of Sikkim’s organic produce in domestic and export markets.

6. Commercial LPG cylinder price hiked by ₹42

Public-sector oil marketing company Indian Oil Corporation (IOC) revised the price of the 19-kg commercial LPG cylinder upwards by ₹42 in Delhi, taking the new price to ₹3,113.50 with effect from 1 June 2026. Domestic 14.2-kg LPG cylinder prices were left unchanged.

International News

1. Israel–Lebanon hostilities continue despite ceasefire claim

Israeli military strikes on southern Lebanon killed at least eight people and damaged the Jabal Amel University Hospital in Tyre, even after US President Donald Trump claimed both sides had agreed to halt firing. According to Lebanon’s Health Ministry, Israeli strikes since March 2026 have killed more than 3,400 people and wounded over 10,000.

2. US strikes radar & drone sites in Iran; Kuwait, Bahrain on alert

The United States announced fresh strikes on Iranian radar and drone facilities after Tehran reportedly downed a US drone over the weekend. Kuwait and Bahrain said they had intercepted incoming Iranian missiles and drones aimed at Gulf targets, raising fresh concerns of a wider regional escalation.

3. Russia launches massive aerial attack on Kyiv

Russian forces launched one of the heaviest aerial barrages on Kyiv and other Ukrainian cities in recent weeks. Ukrainian officials confirmed that at least 22 civilians were killed and 138 were wounded. The attack came amid renewed Western diplomatic efforts to broker a ceasefire.

4. EU advances overhaul of migration policy

The European Union formally moved forward with a major overhaul of its migration and asylum framework, aiming to accelerate deportations of rejected asylum-seekers and establish “return hubs” / detention facilities outside EU borders. The reform follows months of debate within the European Parliament and Council.

5. Philippines & Vietnam upgrade ties to Enhanced Strategic Partnership

During Vietnamese President Tô Lâm’s state visit to Manila, the Philippines and Vietnam upgraded their bilateral relationship to an Enhanced Strategic Partnership. The two ASEAN members agreed to expand cooperation in maritime security, defence, energy and tourism amid tensions in the South China Sea.

News related to Indian Banking and Finance

1. RBI MPC meeting (3–5 June 2026)

The Reserve Bank of India’s six-member Monetary Policy Committee began its bi-monthly review on 3 June 2026. Apart from the repo-rate decision (expected to remain at 5.25%), the MPC is expected to revisit its FY27 GDP growth projection of 6.9% and inflation outlook in light of recent commercial LPG/fuel price changes and global commodity moves.

2. SEBI’s revised margin and F&O risk norms effective

New SEBI margin and risk-management norms for the equity derivatives (F&O) segment have come into force from 1 June 2026. The framework tightens position-limit monitoring, intraday risk calculations and disclosure for retail derivative traders, in line with SEBI’s ongoing investor-protection agenda.

3. New Income-Tax rules kick in

From 1 June 2026, several updated Income-Tax provisions as notified in the Union Budget 2026-27 have come into effect, covering TDS rationalisation, updated return filing timelines and revised reporting thresholds for high-value transactions.

4. Indian Oil hikes commercial LPG price

As part of the monthly cycle, Indian Oil Corporation (IOC) increased the 19-kg commercial LPG cylinder price by ₹42 in Delhi from 1 June 2026, with proportionate revisions in Mumbai, Kolkata and Chennai. The move is expected to marginally push WPI/CPI inflation in the services basket.

5. UPI continues to dominate retail digital payments

According to NPCI data referenced by RBI, UPI transactions continued to scale in May 2026, retaining UPI’s position as the world’s largest real-time retail payment system. The data is closely tracked by the MPC as a proxy for consumption demand.

News related to International Banking and Finance

1. IMF’s global growth outlook for 2026

The International Monetary Fund (IMF), in its latest World Economic Outlook update, projected global growth at 3.1% for 2026, revised downward from the earlier 3.4% forecast. The Fund cited geopolitical conflicts, sticky services inflation and US-led trade frictions as principal drags on global activity.

2. Global public debt to approach 100% of GDP by 2028

An IMF Fiscal Monitor warning highlighted that global public debt is projected to approach 100% of GDP by 2028, straining public finances amid rising interest burdens and growing fiscal demands for defence, climate transition and ageing populations.

3. IMF emergency lending pipeline at $50 billion

IMF Managing Director Kristalina Georgieva said near-term demand for IMF emergency financing could reach USD 50 billion, while World Bank President Ajay Banga indicated USD 20–25 billion in rapid financing is being prepared for countries hit by geopolitical and climate shocks.

4. IMF & World Bank resume formal relations with Venezuela

The IMF and the World Bank announced the resumption of formal relations with Venezuela, six years after engagement was suspended in 2019. Venezuela’s interim authorities have requested access to about USD 5 billion in Special Drawing Rights (SDRs) to fund infrastructure.

5. SDR Interest Rate & Exchange Rate update

As of 1 June 2026, the IMF’s SDR interest rate stood at 2.739% with an exchange rate of 1 USD = SDR 0.730326. The SDR is a closely watched benchmark by central banks for cross-currency reserve management.

International Sports Events

1. NBA Finals 2026 tip off

The 2026 NBA Finals begin on 3 June 2026. The New York Knicks have secured their place in the Finals and await the winner of the Western Conference series between the Oklahoma City Thunder and the San Antonio Spurs, currently tied at 3-3.

2. FIFA World Cup 2026 build-up

The 2026 FIFA World Cup kicks off on 11 June 2026 and runs until 19 July 2026, hosted jointly by the United States, Canada and Mexico, featuring 48 national teams and 104 matches across 16 host cities—the first edition of the tournament with this format.

3. International friendlies dominate the pre-World-Cup window

The June international football window features heavyweight friendlies headlined by Brazil and France, with Mexico, the USA, Germany, Japan, Australia and Switzerland using the window for final tune-ups before the World Cup.

4. US Open Golf & Wimbledon dates confirmed

The US Open Golf Championship is scheduled for 18–21 June 2026, followed by the start of Wimbledon Championships on 29 June 2026, marking two of the most-watched events on the global sporting calendar.

5. Run-up to ICC Men’s T20 World Cup & Asian Games

Looking ahead, India will co-host the ICC Men’s T20 World Cup with Sri Lanka, while the 2026 Asian Games are scheduled in Aichi–Nagoya, Japan and the 2026 Commonwealth Games in Glasgow, Scotland.

Major National or International Appointments

1. Rajesh Kumar Singh takes additional charge as DRDO Chairman

Rajesh Kumar Singh (IAS), Defence Secretary, was given additional charge of Secretary, Department of Defence R&D and Chairman, DRDO, with effect from 31 May 2026, following the superannuation of Dr Samir V. Kamat.

2. Saurabh Vijay assumes charge as CEO, UIDAI

Senior IAS officer Saurabh Vijay took charge as the Chief Executive Officer of the Unique Identification Authority of India (UIDAI) on 19 May 2026, succeeding the previous incumbent. UIDAI administers the Aadhaar ecosystem.

3. Vice Admiral Krishna Swaminathan appointed Navy Chief

Vice Admiral Krishna Swaminathan assumed office as the new Chief of the Naval Staff (CNS), taking the Indian Navy’s top job effective 9 May 2026.

4. Lt Gen NS Raja Subramani named next CDS

Lt Gen NS Raja Subramani has been appointed as India’s next Chief of Defence Staff (CDS), with formal taking-over scheduled in line with the existing CDS’s superannuation timeline.

5. Senior Advocate V. Mohana to be elevated to Supreme Court

Senior Advocate V. Mohana has been cleared by the Centre for elevation to the Supreme Court of India, alongside four High Court Chief Justices. Once she takes oath, the Supreme Court will function at a strength of 37 judges.

Resignation or Dismissal

1. Karnataka CM Siddaramaiah resigns

Karnataka Chief Minister Siddaramaiah tendered his resignation to the Governor of Karnataka, who accepted it. Deputy CM D. K. Shivakumar is widely tipped to take over as the next Chief Minister, in line with the reported Congress “rotational CM” arrangement.

2. UK Health Secretary Wes Streeting resigns

In the United Kingdom, Health Secretary Wes Streeting resigned amid the deepening Labour Party leadership crisis, joining four junior ministers and four ministerial aides who have quit the Starmer government. Over 95 Labour MPs have publicly called on Prime Minister Sir Keir Starmer to set out a departure timetable.

3. UK Foreign Office dismisses senior civil servant

UK Foreign Secretary Yvette Cooper dismissed Olly Robbins, the most senior civil servant in the Foreign, Commonwealth & Development Office (FCDO), as part of the broader churn inside the Starmer government.

4. Earlier resignation of UK PM’s Chief of Staff & Communications Director

Earlier in 2026, Morgan McSweeney, the PM’s Chief of Staff, took responsibility for a controversial appointment and resigned in February 2026. Tim Allan, Director of Communications, followed a day later.

5. Dr Samir V. Kamat superannuates from DRDO

Dr Samir V. Kamat, Secretary, Department of Defence R&D and Chairman, DRDO, demitted office on 31 May 2026 on attaining superannuation. Defence Secretary Rajesh Kumar Singh has been given additional charge until a regular successor is named.

Major Inventions and Discoveries

1. NISAR (NASA-ISRO) sends first radar images of Earth

The joint NASA-ISRO Synthetic Aperture Radar (NISAR) satellite has transmitted its first radar images of Earth’s surface as the mission approaches full science operations. NISAR will scan Earth’s land and ice surfaces twice every 12 days, using a 39-foot (12-metre) wide drum-shaped antenna—the largest reflector ever flown by NASA. It is the first Earth-observation mission for which the two agencies have co-developed hardware. ISRO’s Space Applications Centre (SAC) contributed the S-band radar, particularly sensitive to small vegetation, agriculture and grasslands.

2. NASA Artemis III crew announcement scheduled

NASA announced that it will reveal the astronauts assigned to the Artemis III lunar mission during a live event from NASA’s Johnson Space Center, Houston, on 9 June 2026, at 11:00 AM EDT. Artemis III will be the first crewed lunar landing under the Artemis programme since Apollo 17.

3. ISS research links pneumonia bacteria to long-term heart damage

Astronauts of Expedition 74 aboard the International Space Station are studying how bacteria responsible for pneumonia cause long-term damage to the heart. The team is using stem-cell-derived heart tissues to observe responses to bacterial infections in microgravity.

4. AI & cybersecurity risks to global banking flagged

Senior financial regulators warned that advanced AI models developed by major technology companies could pose systemic cybersecurity risks to the global banking system, calling for coordinated international responses, including stress-testing of AI-related risks.

5. MIT Technology Review’s 10 Breakthrough Technologies 2026

The annual MIT Technology Review’s “10 Breakthrough Technologies 2026” list this year covers innovations spanning generative AI agents, next-gen battery chemistries, GLP-1 drug pipelines, advanced geothermal energy and open small language models—widely seen as the technologies most likely to shape the year ahead.

Daily Current Affairs Quiz – 3 June 2026 (SSC / Bank PO Style)

Attempt all five questions and check your answers at the end.