4.5/5
Current Affairs 02nd June 2026
FOLK DANCES OF INDIA
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Andhra Pradesh: Vilasini Natyam, Bhamakalpam, Veeranatyam, Dappu, TappetaGullu, Lambadi, Dhimsa, Kolattam
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Arunachal Pradesh: Budaya, Chalo, Wancho, Pasi Kongki, Ponung, Popiro, Mask Dance, War Dance
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Assam: Bihu, Bichhua, Sattriya, Natpuja, Maharas, Kaligopal, Bagurumba, Naga Dance, Khel Gopal
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Bihar: Jata-Jatin, Bakho-Bakhen, Panwariya
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Chhattisgarh: Gaur Maria, Panthi, Raut Nacha, Pandwani, Vedmati, Kapaliki, Sua, Danda or Rahas
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Gujarat: Garba, Dandiya Raas, TippaniJuriun, Bhavai
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Goa: Tarangmel, Koli, Dekhni, Fugdi, Shigmo, Ghode, Modni, Samayi Dance, Jagar, Ranmale
1. Canara Bank Appoints Brajesh Kumar Singh as MD & CEO
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Tenure and Effective Date: Following a Government of India notification dated May 30, 2026, he assumed the role on June 1, 2026. His appointment will continue until April 30, 2029 (the date of his superannuation), or until further orders, whichever is earlier.
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Professional Background: A veteran banker with over three decades of experience, he previously served as the Executive Director of Indian Bank. Throughout his career, he has held significant roles in diverse domains, including corporate credit, retail banking, human resources, business development, and strategic operations.
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Strategic Succession: He succeeds K. Satyanarayana Raju, whose tenure as MD & CEO concluded on December 31, 2025. His appointment was recommended by the Financial Services Institutions Bureau (FSIB) and approved by the Appointments Committee of the Cabinet to provide long-term leadership stability for the bank.
Footnotes: Canara Bank's Previous MD & CEO: K. Satyanarayana Raju, HQ: Bengaluru, Estd: 1906
2. Bhavitha Mandava Named in Forbes 30 Under 30 Asia 2026
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Cinematic Discovery: Mandava’s path to fame began in October 2024 while she was a graduate student at New York University. She was spotted by a modeling scout during an ordinary commute on the New York City subway, a chance encounter that quickly propelled her into the international fashion spotlight.
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Historic Fashion Milestones: She made history in December 2025 by becoming the first Indian model to open a Chanel show, specifically the prestigious Métiersd’Art collection held at a Manhattan subway station. Her rapid ascent continued in March 2026 when she was officially named a Chanel House Ambassador, followed by her debut appearance at the Met Gala in May 2026.
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Cultural Representation: Beyond her runway success, Forbes recognized her for the inspiration she provides to young women across Asia. Mandava has spoken openly about the significance of representation in the luxury fashion industry, aiming to show young girls from similar backgrounds that they can thrive in spaces where diversity has historically been limited.
3. UPI Hits Record High in May 2026 with ₹29.90 Trillion
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Record-Breaking Figures: UPI processed a record 23.2 billion transactions in May 2026, marking the first time the platform has crossed the 23-billion mark in a single month. The total value of these transactions reached an all-time high of ₹29.90 trillion (often cited as ₹29.90 lakh crore).
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Significant Growth Trends: This performance represents a robust 19% year-on-year increase in transaction value and a 24% year-on-year increase in transaction volume. On a daily basis, the platform handled an average of 748 million transactions, underscoring its deepening integration into the daily economic lives of consumers and merchants.
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Key Drivers of Adoption: Industry experts attributed this surge to a combination of seasonal factors, including increased consumer spending during the summer travel season and high transaction activity linked to the IPL 2026.
4. South Korea overtakes India as world's sixth- largest stock market
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AI-Driven Semiconductor Boom: The primary driver for South Korea’s ascent is the explosive performance of its chip giants, Samsung Electronics and SK Hynix. As critical suppliers of High Bandwidth Memory (HBM) chips for the global artificial intelligence infrastructure, both companies have seen their valuations surge, with each recently joining the "$1 trillion valuation club."
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Contrasting Market Performance: While South Korea’s total market capitalization has soared by approximately 86% year-to-date to $5 trillion, the Indian stock market has faced headwinds, with its market cap easing to around $4.8 trillion.
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Shift in Global Rankings: This transition reflects a broader reshuffling of global equity hierarchies. Having already surpassed markets like Canada, Germany, France, and the United Kingdom earlier this year, South Korea’s climb follows a similar trajectory to Taiwan, which also overtook India in market capitalization earlier in 2026. India currently sits in the seventh position globally.
Footnotes: South Korea's President: Lee Jae Myung, PM: Kim Min-seok, Capital: Seoul
5. Admiral Krishna Swaminathan Takes Charge as 27th Chief of Naval Staff
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Transition of Command: He succeeded Admiral Dinesh Kumar Tripathi, who superannuated after 41 years of distinguished service. Prior to this appointment, Admiral Swaminathan served as the Vice Chief of the Naval Staff and the Flag Officer Commanding-in-Chief of the Western Naval Command.
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Distinguished Career: Commissioned into the Indian Navy on July 1, 1987, he is a specialist in Communication and Electronic Warfare. Throughout his nearly four-decade career, he has commanded several key naval assets, including the missile vessels INS Vidyut and INS Vinash, the missile corvette INS Kulish, the guided missile destroyer INS Mysore, and the aircraft carrier INS Vikramaditya.
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Academic and Strategic Expertise: An alumnus of the National Defence Academy and several prestigious international institutions—including the U.S. Naval War College and King’s College, London—he holds advanced academic credentials. These include an MPhil in Strategic Studies and a PhD in International Studies from Mumbai University, reflecting his deep expertise in maritime strategy and security.
Footnotes: Previous CNS: Dinesh Kumar Tripathi
6. Senior Advocate V. Mohana appointed as a Judge of Supreme Court of India
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Historic Elevation: Justice V. Mohana is only the second woman in the history of the Indian judiciary to be elevated directly from the Bar to the Supreme Court bench, following Justice Indu Malhotra’s appointment in 2018. Her inclusion brings the total number of sitting female judges in the Supreme Court to two, joining Justice B.V. Nagarathna.
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Professional Background: A distinguished legal professional, Justice Mohana graduated from Coimbatore Law College in 1988. She became an Advocate-on-Record in 1996 and was designated a Senior Advocate by the Supreme Court in 2015. Throughout her career, she has been involved in several high-profile cases, including the 2022 Karnataka hijab row and the landmark case regarding the permanent commission for women officers in the Indian Army.
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Strategic Expansion: Her appointment was part of a larger intake of five new judges—including four High Court Chief Justices—aimed at addressing the record-high pendency of cases. This expansion was facilitated by the Supreme Court (Number of Judges) Amendment Ordinance, 2026, which increased the court's sanctioned strength to 38, bringing the total number of active judges to 37.
7. UIDAI CEO Saurabh Vijay gets additional charge of CEO AI Mission
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Strategic Consolidation: The government’s decision to assign both roles to Saurabh Vijay is aimed at fostering greater synergy between India’s foundational digital identity infrastructure—Aadhaar—and the nation’s rapidly evolving sovereign artificial intelligence goals. By aligning these two critical digital pillars, the government intends to streamline secure, data-driven public service delivery across the country.
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Background and Transition: Vijay, who assumed charge as the UIDAI CEO in mid-May 2026, brings extensive experience in e-governance to the role. The India AI Mission leadership position had been vacant since the departure of former CEO Abhishek Singh, who was reassigned to head the National Testing Agency (NTA).
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Operational Focus: In his expanded capacity, Vijay will oversee the mission’s core objectives, which include scaling national computing infrastructure, fostering the development of indigenous multilingual foundational AI models, and ensuring that AI deployment remains inclusive and beneficial to citizens.
8. West Bengal Gramin Bank & Canara HSBC Life Insurance Partnered
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Expanded Financial Inclusion: The partnership aims to leverage West Bengal Gramin Bank’s extensive network across rural and semi-urban areas of West Bengal to distribute Canara HSBC Life Insurance’s suite of products. This is specifically designed to provide affordable life insurance coverage to underserved populations, aligning with broader national financial inclusion goals.
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Diverse Product Portfolio: Under this agreement, the bank's customers will gain access to a wide range of insurance solutions, including protection, savings, and retirement products. These offerings are intended to provide long-term financial security to households that may not have previously had access to comprehensive insurance planning.
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Technological Integration: The collaboration focuses on a digital-first approach to policy issuance and claims processing. By integrating the insurer's technology platforms with the bank’s existing service delivery systems, the partners aim to minimize turnaround times and ensure a seamless, paperless experience for rural customers.
WHAT HAPPENED TODAY
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Telangana Formation Day: 2ndJune
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This day honors the culmination of a decades-long movement for a separate state and serves as a major public holiday featuring cultural programs and flag-hoisting ceremonies across the state.
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