Daily Current Affairs – June 3, 2026

The US Trade Representative is making waves with a proposal for tariffs targeting India and 53 additional nations, following claims that these economies haven't adequately prohibited imports linked to forced labor practices. This announcement unfolds amidst pivotal negotiations between US and Indian trade delegates over a potential bilateral agreement.

New import rules for silver are now in effect. All silver imports must go through specific government-approved channels. This includes agencies nominated by the RBI and DGFT, as well as qualified jewelers. These imports will be processed through the India International Bullion Exchange. This move follows a recent increase in import duties on gold and silver.

17 Opposition parties likely to join the meeting; all eyes on DMK, given the recent tensions with Congress for switching sides in Tamil Nadu

The bus service ‘Mukhya Mantri Sugam Parivahan Sewa’, Mr. Yadav said, would be launched in phases across Madhya Pradesh with the government planning to start the services before Rakshabandhan. 

The central provision allows companies such as OpenAI, Google or Anthropic to give the government access to their most powerful models for up to 30 days before planned release.

Lawmakers from the Nepali Congress and the Nepal Communist Party demanded that the Prime Minister clarify where exactly Nepal has encroached upon Indian territory and sought the removal of his remarks from the record.

Foreign institutional investors are net sellers in Indian equities due to global concerns, but this reflects capital reallocation, not a loss of confidence. Smart money is becoming selective, favoring businesses with strong fundamentals and growth prospects. India's structural growth drivers and domestic consumption remain attractive long-term.

MoneyGrow PMS has navigated market volatility by focusing on businesses with consistent earnings growth. The fund house identifies opportunities in financials, manufacturing, and capital markets. Despite global uncertainties, they remain optimistic about India's long-term growth story. Their strategy emphasizes identifying companies with strong EPS growth outlook, leading to outperformance.

The Supreme Court's online gaming GST judgment has also settled a years-old dispute over casino taxation, endorsing a broader tax base and strengthening the government's position in large pending tax claims.

Amazon Music India is implementing a three-tier subscription model to attract more users, including a free service with ads, an upgraded Prime experience, and a premium unlimited plan. This change reflects the growing demand for diverse music services amid increasing smartphone penetration.

It’s more important for the tournament that I get this win than thinking that it’s Magnus. Of course, it’s great to do it against Magnus, but I think winning any game at this stage of the tournament is good, says Indian Grandmaster R. Praggnanandhaa

The contracts of these players ended on Sunday and there has been uncertainty all around as the tussle between the All India Football Federation (AIFF) and the clubs continue over the future of the ISL next season.