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Daily Current Affairs – 02 July 2021


World UFO Day: 02 July

  • The World UFO Day (WUD) is held on July 2 every year globally. It is a day dedicated to the existence of Unidentified Flying Objects (UFO) by World UFO Day Organization (WUFODO).
  • WUD aims to raise awareness about the existence of UFOs and encouraging people to think about the possibility of us not being alone in the Universe.
  • Initially, the day was observed on June 24. Later, WUFODO established July 2 to commemorate the day.

World Sports Journalists Day: 02 July

  • World Sports Journalists Day is observed on July 2 every year to celebrate the services of sports journalists for the promotion of sports.
  • Th day was established in 1994 to commemorate 70th anniversary of International Sports Press Association (ISPA).
  • The ISPA was founded in London on the July 2, 1924 during the Summer Olympics in Paris.




Government keeps interest rates on Small Savings Schemes unchanged for Quarter-2 of 2021-22

  • Government of India has announced that the rate of interest on Small Savings Schemes for the second quarter (July-Sept) of 2021-22 will remain unchanged as the last quarter (April-June) of 2021-2022.
  • It must be noted hat the Government notifies the Interest rates for small savings schemes on quarterly basis.

India records current account surplus of 0.9% in FY21

  • According to the data released by the Reserve Bank of India, India reported a current account surplus of 0.9% of GDP in the FY 21. In FY 20 there was a current account deficit of 0.9%.
  • The reason for Current Account Surplus in FY21 is sharp contraction in the trade deficit to US$ 102.2 billion from US$ 157.5 billion in 2019-20.
  • Current Account Surplus/Deficit is difference between Export and Import.
    • Current Account Surplus implies that Export from India was more than Import into India.
    • Current Account Deficit implies that Import into India was more than Export from India.
  • India has seen a Current account surplus for first time in 17 years.


India Ranks 20th in Global Startup Ecosystem Index 2021, the US tops: Startup Blink report

  • India has moved up three spots to be ranked at the 20th spot among the top 100 countries in the Global Startup Ecosystem Index 2021 by Startup Blink.
  • India was at 23rd spot in 2020.
  • The US has once again retained its position as the top country while, the UK, Israel, Canada and Germany continue to be the top five countries respectively like previous year.
  • Each country is ranked based on three parameters, which are, quantity, quality and business environment. Each parameter further comprise of various elements.
  • City-Wise Ranking
    • In terms of City-wise ranking, 43 Indian cities are listed in the top 1000 globally.
    • Bengaluru (10th) is the highest ranked Indian city in the list, while New Delhi (14) and Mumbai (16) are the other Indian cities in the top 20.
    • Overall, San Francisco, United States has topped the cities list. It is followed by New York (2nd), Beijing (3rd), Los Angeles (4th), and London (5th).
  • The 2021 Global Startup Ecosystem Index ranks 1,000 cities and 100 countries worldwide, to track both momentum (quality and frequency of innovation) as well as trends within the startup ecosystem, around the world.


World Bank expands Coronavirus Vaccine Funding to $20 billion to be used through 2022

  • The World Bank has announced an additional funding of $8 billion for Covid-19 vaccines, for developing countries.
  • With this the total financing available for Covid-19 vaccine reaches $20 billion. Earlier the World Bank had announced $12 billion for the same.
  • This funding will be used over the next 18 months till 2022 end.
  • World Bank Group President David Malpass has also called on countries with surplus doses to release it for use by developing countries, and requested vaccine manufacturers to prioritise the available doses for such developing countries that urgently need them.


Flipkart launches Shopsy App, to enable Indians to start their online businesses

  • Flipkart has launched Shopsy app that will enable Indians to start their online businesses without any investment.
  • Flipkart aims to enable over 25 million online entrepreneurs by 2023 with the help of Shopsy.
  • Users of Shopsy will be able to share catalogues of a wide selection of 15 crore products offered by Flipkart sellers. These users can share catalogues with potential customers via popular social media and messaging apps, place orders on their behalf and earn commissions on the transactions.


Air Marshal Vivek Ram Chaudhari Takes Charge as Vice Chief of IAF

  • Air Marshal Vivek Ram Chaudhari has been sworn in as the new Vice Chief of Indian Air Force on July 01, 2021.
  • He succeeds Air Marshal Harjit Singh Arora, who retired from service on June 30, 2021.
  • Prior to this, Air Marshal Chaudhari was serving as commander-in-chief of the IAF’s Western Air Command (WAC).


12-Year-old Indian-Origin Abhimanyu Mishra Becomes Youngest Grand Master in Chess History

  • An Indian origin boy, Abhimanyu Mishra, who hails from New Jersey, has become the youngest-ever Grandmaster in chess on June 30, 2021.
  • Abhimanyu became the youngest GM at the of 12 years 4 months and 25 days.
  • He beat the previous record held by GM Sergey Karjakin, who became the youngest GM at 12 years and 7 months in 2002.


Filmmaker Raj Kaushal Passes Away at 49

  • The writer-director-filmmaker Raj Kaushal, who was the husband of veteran television actress Mandira Bedi, has passed away after a massive heart attack. He was 49.
  • Kaushal started his career as a copywriter and as a filmmaker, he rose to fame with three of his films in his career, namely Pyaar Mein Kabhie Kabhie, Shaadi Ka Ladoo and Anthony Kaun Hai. 
  • In 1998, he started his own advertising production company and directed over 800 commercials.
  • Raj Kaushal and Mandira married in 1999.