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CURRENT AFFAIRS : BANKING & FINANCE

Reserve Bank of India Initiates 2024-25 Survey on Foreign Liabilities and Assets of Mutual Funds and Asset Management Companies

• The Reserve Bank of India (RBI) has launched the 2024-25 round of its annual survey on Foreign Liabilities and Assets (FLA) of Mutual Funds and Asset Management Companies (AMCs).
• The survey collects data on external financial liabilities and assets of mutual funds and AMCs as of end-March of the latest financial year.
• Survey results are published publicly and used for the compilation of India’s external sector statistics.
• AMCs must submit their annual FLA return online via the web portal:https://flair.rbi.org.in by July 15, 2025.
• Mutual fund companies need to fill out Survey Schedule-4, available on the RBI website under Regulatory Reporting → List of Returns → FLA MF - Survey Schedule or under Forms → Survey.
• Mutual fund companies must send the filled schedule via e-mail by July 15, 2025.
• Schedule-4 is available in both Hindi and English formats, and companies can choose either.
• The survey helps RBI monitor foreign exposure and financial stability of mutual funds and AMCs.

Recent News :

• In May 2025, The RBI is seeking approval from the Union Government to allow domestic banks and their foreign branches to lend Rupees to overseas borrowers for the first time.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Reserve Bank of India Likely to Announce 50 bps Jumbo Rate Cut to Revive Credit Growth and Tackle Uncertainty

• The Reserve Bank of India (RBI) may announce a "jumbo rate cut" of 50 basis points (bps) on June 6, 2025, during its Monetary Policy Committee (MPC) meeting to boost the credit cycle and manage uncertainties.
• The MPC meeting will be held from June 4 to June 6, 2025, headed by RBI Governor Sanjay Malhotra.
• RBI had already reduced the repo rate by 25 bps in February and April 2025, bringing the rate to 6%.
• The MPC changed its monetary policy stance from neutral to accommodative in April 2025.
• The State Bank of India (SBI) Economic Research Department expects a 50 bps rate cut in the June policy, which could result in a cumulative 100 bps cut over the cycle.
• A large rate cut is expected to reinvigorate the credit cycle.
• After the 25 bps cuts in Feb and April, many banks have reduced their repo-linked External Benchmark Lending Rates (EBLRs) by a similar amount.
• Currently, 60.2% of loans are linked to EBLR, and 35.9% are linked to Marginal Cost of Funds-based Lending Rate (MCLR).
• MCLR adjusts with a lag due to its longer reset period.
• Banks have reduced interest rates on savings accounts to a floor of 2.7% and cut fixed deposit (FD) rates by 30-70 bps since February 2025.
• The transmission of rate cuts to deposit rates is expected to be strong in upcoming quarters.
• Commercial banks' credit growth slowed to 9.8% as of May 16, 2025, compared to 19.5% growth in the previous year.

₹2,000 Notes Worth ₹6,181 Crore Yet to Be Returned; RBI Says 98.26% Already Deposited or Exchanged

• Nearly two years after the withdrawal of ₹2,000 notes by the Reserve Bank of India (RBI), currency worth ₹6,181 crore is still in circulation as of May 31, 2025.
• On May 19, 2023, RBI announced the withdrawal of ₹2,000 banknotes, which were worth ₹3.56 lakh crore at that time.
• Since the announcement, 98.26% of the ₹2,000 banknotes have been returned to the banking system.

Key Highlights :

• The ₹2,000 note was first introduced in November 2016 after the demonetisation of ₹500 and ₹1,000 notes.
• Currency in circulation (CIC), a major part of reserve money (76.9%), grew by 5.8% in 2024-25 compared to 4.1% in the previous year, partly due to the subsiding impact of the ₹2,000 note withdrawal.
• The facility to deposit or exchange ₹2,000 notes was available at all bank branches until October 7, 2023.
• Since October 9, 2023, exchange and deposit of ₹2,000 notes are possible at 19 designated RBI Issue Offices across India.
• Individuals can also send ₹2,000 notes via India Post from any post office to RBI Issue Offices for direct credit to their bank accounts.
• The ₹2,000 banknotes still remain legal tender despite the withdrawal announcement.

CURRENT AFFAIRS: NATIONAL NEWS

Government Extends Unified Pension Scheme (UPS) Benefits to Retired Central Government NPS Subscribers

• The Government of India has extended Unified Pension Scheme (UPS) benefits to Central Government employees who retired under the National Pension System (NPS) with at least 10 years of service on or before March 31, 2025.
• Eligible retirees or their spouses must apply by June 30, 2025 to claim the benefits.

Key Highlights :

• Eligibility Criteria: Applicable to Central Government NPS retirees and their spouses with a minimum of 10 years of qualifying service, and who retired on or before March 31, 2025.
• Application Deadline:June 30, 2025 is the last date to opt-in for UPS benefits.
• One-Time Lump Sum: Eligible retirees will receive 1/10th of the last drawn basic pay plus dearness allowance for every six months of qualifying service.
• Monthly Top-Up Pension: Provided based on the difference between the UPS payout (including DA) and the annuity received under NPS.
• Arrears with Interest: Arrears, if any, will be paid with simple interest at Public Provident Fund (PPF) rates.
• Unified Pension Scheme (UPS): Announced in January 2025, it assures 50% of the average basic pay drawn during the last 12 months as pension, offering a guaranteed pension option compared to NPS’s market-linked returns.
• National Pension System (NPS): A market-linked pension scheme introduced on January 1, 2004, for Central Government employees.

Indian Government Issues Guidelines for SPMEPCI to Boost Electric Passenger Car Manufacturing

• The Central Government has officially notified the operational guidelines for the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).
• This scheme aims to attract global electric vehicle (EV) manufacturers to invest in India by providing concessional customs duty benefits on the import of electric passenger cars and encouraging both greenfield and brownfield investments in manufacturing facilities.
• The announcement coincides with Union Minister H.D. Kumaraswamy's statement that Tesla currently prefers to open showrooms in India but is not interested in manufacturing locally.

Key Highlights :

• Scheme Name: Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).
• Incentives Offered:
  • Reduced customs duty of 15% on Completely Built Units (CBUs) with a Cost Insurance Freight (CIF) value of $35,000 or more.
  • Concessional duty benefits are valid for 5 years from the date of application approval.
• Import Quota:
  • Up to 8,000 EVs per year allowed at concessional duty, with rollover of unused quota to subsequent years.
• Investment Eligibility:
  • Expanded from initially only greenfield investments to now include brownfield investments (expansion of existing plants), addressing concerns from Indian manufacturers such as Tata Motors and Maruti Suzuki.
• Objectives of the Scheme:
  • Encourage global EV makers to establish manufacturing units in India.
  • Boost domestic EV production and promote clean, sustainable mobility.
  • Support India's vision to become a global hub for EV manufacturing.
  • Aid India’s goal to achieve net-zero emissions by 2070 and reduce fossil fuel dependency.
• Background:
  • The EV import policy was first announced in March 2024.
  • This scheme is a critical step in India’s larger environmental and industrial policy framework.
• Additional Information:
  • Union Minister for Heavy Industries: H.D. Kumaraswamy.
  • Tesla’s Position: Currently focused on showroom operations in India, with no plans for local manufacturing.

Department of Posts Launches DHRUVA: India’s National Digital Address Infrastructure

• The Department of Posts (DoP) has introduced a comprehensive policy framework for DHRUVA, a Digital Address Digital Public Infrastructure (DPI) designed to provide a unique and precise digital address for every home in India.
• This initiative aims to strengthen address management as a critical public infrastructure for improved governance and service delivery.

Key Highlights :

• About DHRUVA:
  • A DPI that creates a secure, geo-coded digital address system for homes across India.
  • Enables users to share accurate address information through a standardized geo-spatial framework.
  • Recognizes address management as essential for effective governance and enhanced user experiences.
• Two Key Layers:

1. Digital Postal Index Number (DIGIPIN):
   • A 10-digit alpha-numeric code based on geographic coordinates (latitude-longitude).
   • Developed by dividing India’s territory into uniform grids of approximately 4x4 meters.
   • Provides unique location identification using geospatial data.
2. Digital Address Layer:
   • A user-centric, consent-based system built on DIGIPIN.
   • Allows users to create personalized labels linked to their DIGIPIN and descriptive address.

• Core Features:
  • Privacy and Security safeguards user data.
  • Ensures interoperability and openness across platforms.
  • Designed for scalability, transparency, accountability, and innovation.
• Benefits:
  • For Citizens: Easier access to government schemes, accurate ration delivery, and efficient emergency services.
  • For Private Sector: Improved address verification for banks, telecom, fintech, e-commerce, postal, and courier services.
  • For Governance: Enhanced logistics and delivery optimization, better service reach to remote areas, and streamlined public service delivery.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Russia Confirms Delivery of Remaining S-400 Missile Systems to India by 2026

• Russia is committed to delivering the remaining two units of the S-400 air defence system to India by 2025-26.
• The S-400 system performed very efficiently during the recent India-Pakistan tensions.
• The contract for the remaining S-400 units is on track, with deliveries expected to meet the publicly announced timelines.

Key Highlights :

• India signed a $5.43 billion deal with Russia in 2018 for five squadrons of the S-400 Triumf missile system.
• So far, three squadrons have already been delivered.
• The S-400 is a state-of-the-art air defence platform capable of engaging multiple aerial threats at long ranges.
• Russia and India are considering expanding bilateral cooperation in air defence and anti-drone systems.
• The growing threat of drones, especially during the India-Pakistan clash, has highlighted the need for counter-drone technologies.
• Russia has experience in modernising anti-drone systems, which are already part of ongoing India-Russia defence dialogue.
• The Deputy Chief of Mission, Roman Babushkin, mentioned a potential visit by Russian Foreign Minister Sergey Lavrov to India, expected soon (possibly this month).
• The ongoing India-Russia defence partnership is seen as strategically important in the current global security environment.

About Russia :

• President :Vladimir Putin
• Prime Minister :Mikhail Mishustin
• Capital :Moscow
• Currency :Ruble

CURRENT AFFAIRS: STATE NEWS

Telangana Declares Kumram Bheem Conservation Reserve to Strengthen Tiger Corridor

• The Telangana State government has established the Kumram Bheem Conservation Reserve, covering 88 square kilometres, to serve as a vital wildlife corridor connecting multiple tiger reserves and sanctuaries across central India.

Key Highlights:

• Geographical Coverage: Spanning 1492.88 sq. km across Asifabad and Kagaznagar divisions, the reserve includes parts of Kerameri, Wankidi, Asifabad, Sirpur, Koutala, Bejjur, Kagaznagar, Rebbana, Dahegaon, and Tiryani mandals. It encompasses 78 reserve forest blocks, such as Garlapet, Ada, Manikgarh East, and Manikgarh West.
• Tiger Connectivity: Serves as a crucial link between Kawal Tiger Reserve (Telangana) and Tadoba-Andhari Tiger Reserve (Maharashtra), while also connecting to Kanhargaon, Tipeshwar, Chaprala, and Indravati
• Resident and Transient Tigers: Home to resident breeding tigers, with reports of over 45 unique transient tigers using the area over the last decade.
• Carnivore Diversity: Supports leopards, wild dogs, sloth bears, wolves, hyenas, honey badgers, and jungle cats, indicating a healthy predator base.
• Prey Species: Sustains a variety of ungulates including gaur, sambar, nilgai, chital, four-horned antelope, muntjac, and Indian gazelle, essential for carnivore survival.
• Avian Biodiversity: Records over 240 bird species, notably Malabar Pied Hornbills and Long Billed Vultures, reflecting rich avifaunal diversity.

Recent Census Data:

• Tiger Census 2022: Documented at least 4 adult tigers and 3 cubs.
• Cub Births Since 2015: Five instances where three tigers collectively birthed 17 cubs.
• All India Leopard Estimation 2022: Recorded 8 leopards in the reserve.

• Management Framework: A conservation reserve management committee has been formed, led by the Kumram Bheem Asifabad District Forest Officer, with participation from panchayat sarpanches, conservation NGOs, and district veterinary, agricultural, and forest officials to oversee protection and sustainable management.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India to Build First-Ever Polar Research Vessel as GRSE Signs MoU with Norway’s Kongsberg

• Union Minister of Ports, Shipping & Waterways, Shri Sarbananda Sonowal, attended the signing of a Memorandum of Understanding (MoU) between Garden Reach Shipbuilders and Engineers Ltd. (GRSE), Kolkata and Norway’s Kongsberg, marking the beginning of India’s indigenous development of its first-ever Polar Research Vessel (PRV).

Key Highlights:

• Scientific and Strategic Milestone: The PRV will significantly enhance India’s capabilities in polar and ocean research, supporting critical studies related to climate change, marine ecosystems, and ocean exploration.
• Partnership for Advanced Maritime Technology: Under the MoU, Kongsberg will provide design expertise, and GRSE will build the vessel, reinforcing India’s ‘Make in India’ initiative and demonstrating its shipbuilding competence in complex research platforms.
• NCPOR as End-User: The vessel is being developed to meet the research requirements of the National Centre for Polar and Ocean Research (NCPOR), further advancing India's scientific presence in polar and southern ocean realms.
• India’s MAHASAGAR Vision at Global Meet: At a high-level ministerial conference on ‘Shipping & Ocean Business,’ Sonowal reaffirmed India’s “MAHASAGAR” vision (Mutual and Holistic Advancement for Security Across the Regions), an evolved form of the SAGAR initiative, aimed at inclusive maritime growth, security, and sustainability.
• Maritime Infrastructure Push Under Sagarmala 2.0: The Minister highlighted the goals of Sagarmala 2.0, focusing on port modernization, shipbuilding, ship recycling, and development of green shipping corridors, positioning India as a global maritime leader.
• Strategic Maritime Dialogue with Norwegian Shipowners: During a roundtable with the Norwegian Shipowners’ Association (NSA), Sonowal invited investments in India’s maritime sector, stressing areas such as green hydrogen, smart ports, shipbuilding, and logistics.

Key Statistics and Cooperation Proposals:

• Indian shipyards hold 11% of NSA’s current global order book.
• India ranks 2nd in global seafarer employment within the Norwegian fleet.
• 87% of Indian ship recycling yards are HKC compliant, aligning with global environmental standards.
• Digital and Green Maritime Initiatives: India proposed cooperation in digital platforms like ONOP and MAITRI and green shipping corridors, aligning with IMO’s net-zero targets.
• Purpose of Visit: The MoU signing and meetings took place during Shri Sonowal’s five-day official visit to Norway and Denmark, aimed at deepening India’s maritime ties with global leaders in the shipping sector.

India and Japan Agree to Deepen Maritime Cooperation for a Sustainable Future

• Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal held a bilateral meeting with Japan’s Vice Minister for International Affairs, Terada Yoshimichi, in Oslo, Norway, focusing on strengthening maritime ties between the two countries.

Key Highlights:

• Shipbuilding and Investment Collaboration: Discussions included Greenfield investments by Japanese shipbuilders such as Imabari Shipbuilding in Andhra Pradesh. India encouraged joint ventures with Indian shipyards to boost domestic shipbuilding capacity.
• Development of Smart Islands: Japan's expertise sought for transforming Andaman & Nicobar and Lakshadweep into Smart Islands through renewable energy, digital infrastructure, and disaster-resilient systems.
• Seafarer Training and Employment: India, with over 1.54 lakh trained seafarers, proposed structured programs for training and employing Indian seafarers in Japan's maritime sector, aiding Japan’s manpower needs.
• Port Digitisation and Green Port Initiatives: Both nations agreed to collaborate on green shipping, port digitalisation, and enhancing sustainable maritime logistics.
• Cooperation in R&D and Maritime Technology: Emphasis on next-generation ship design and sustainable maritime technologies to drive innovation and environmental conservation.
• Cultural and Strategic Ties: The partnership aligns with frameworks like Quad and Supply Chain Resilience Initiative (SCRI), aiming to enhance regional maritime security and economic integration.
• National Maritime Heritage Museum (NMHC): India invited Japan to partner in developing the NMHC at Lothal, Gujarat, as a global maritime heritage and research center.
• Upcoming Maritime Event: Japan was invited to India Maritime Week 2025 in Mumbai (27–31 October) to explore opportunities in investment, innovation, and growth.
• Bilateral Investment Goal: India aims for ₹3.2 lakh crore (5 trillion yen) investment from Japan by 2027 under its maritime vision for sustainable development.

CURRENT AFFAIRS : DEFENCE NEWS

ESPS Reina Sofia and ITS Antonio Marceglia Dock in Mumbai for Operational Turnaround from 26 May to 1 June 2025

• ESPS Reina Sofia (commanded by Cdr Salvador Moreno Regil, Spanish Navy) and ITS Antonio Marceglia (commanded by Cdr Alberto Bartolomeo, Italian Navy) visited Mumbai from 26 May to 01 June 2025 for an operational turnaround.
• Both ships operate under the European Union Naval Force (EUNAVFOR).
• This is the first visit to India conducted under the aegis of the European Union, following discussions between Prime Minister Narendra Modi and EU President Ursula von der Leyen.
• The visit reflects shared commitment to international peace and security.
• Rear Admiral Davide Da Pozzo, Force Commander of Operation Atalanta (EUNAVFOR), met Rear Admiral Vidyadhar Harke VSM, Chief Staff Officer (Operations), Western Naval Command, Indian Navy.
• Both sides agreed on the need for extended military cooperation and expanding avenues of cooperation between the Indian Navy and EUNAVFOR.
• Activities during the visit included Subject Matter Expert Exchanges (SMEEs) and a Table Top Exercise (TTX) to improve tactical-level cooperation at sea.
• Exchanges focused on experiences from Anti-Piracy and Anti-Smuggling operations.
• The harbour engagements set the stage for a Joint Exercise between the Indian Navy and EUNAVFOR, planned after the ships' departure from Mumbai on 01 June 2025.
• The upcoming exercise will involve ESPS Reina Sofia, ITS Antonio Marceglia, and Indian Navy ships and aircraft, aimed at improving interoperability.
• The cooperation focuses on combating non-traditional maritime threats in the Indian Ocean Region (IOR) such as piracy, smuggling, and Illegal, Unreported and Unregulated (IUU) fishing.
• Both India and the European Union share commitment to a rules-based maritime order, ensuring free and open use of international waters while respecting territorial integrity of littoral states.
• The visit supports objectives discussed during the 4th India-EU Maritime Security Dialogue held in New Delhi in March 2025.
• The engagements aim to strengthen multi-domain cooperation between India and the EU, advancing shared maritime security interests.

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

PGP ’82 Alumnus S. Padmanabhan Appointed as Chairman of Tata Chemicals

• S Padmanabhan, PGP '82 alumnus of IIM Bangalore and recipient of the Distinguished Alumni Award (2008), has been appointed Chairman of Tata Chemicals effective 30 May 2025.
• He has been associated with the Tata Group for over four decades, holding key leadership roles across various companies within the Group.
• Most recently, he served as Director at Tata Chemicals before becoming Chairman.
• Padmanabhan completed his Post Graduate Programme in Management (PGP) at IIMB with a specialization in Marketing.
• He took over as Executive Director of Operations at Tata Power Co. Ltd. in February 2008, overseeing Generation, Transmission, and Distribution businesses, including the Mumbai Licence Area and Maharashtra Projects.
• He also served as Director of Operations at Tata Power Trading Co. Ltd.
• Earlier in his career, Padmanabhan held various positions at Tata Consultancy Services (TCS) in different capacities.
• His career highlights demonstrate his extensive experience in operations and leadership within the Tata Group.

Fertiliser Association of India names Sailesh Mehta as new Chairman

• Sailesh C Mehta, Managing Director of Deepak Fertilizers and Petrochemicals Corporation Ltd (DFPCL), has been elected as the new Chairman of the Fertiliser Association of India (FAI).
• He succeeds N Suresh Krishnan, the Managing Director of Paradeep Phosphates Ltd, who was the previous Chairman of FAI.
• Sailesh Mehta has over 40 years of experience in the fertiliser and petrochemical industry.
• He also served as the Chairman of FAI (Western Region) for more than 5 years.
• Mehta is also the Chairman and Managing Director of Mahadhan Agri Tech Ltd, a subsidiary of DFPCL.

Government of India appoints Dinesh Pant and Ratnakar Patnaik as LIC Managing Directors effective June 1, 2025

• The Government of India has decided to appoint Dinesh Pant and Ratnakar Patnaik as Managing Directors (MDs) of Life Insurance Corporation of India (LIC) effective on or after June 1, 2025.
• Dinesh Pant is currently the Appointed Actuary & Executive Director (Actuarial) at LIC.
• Ratnakar Patnaik is currently the Executive Director (Investment – Front Office) and Chief Investment Officer (CIO) at LIC.

Tenure:

• Pant’s tenure as MD is until his superannuation on May 31, 2027, or until further orders, whichever is earlier.
• Patnaik’s tenure as MD is until his superannuation on March 31, 2028, or until further orders, whichever is earlier.
• The current LIC Managing Directors Jagannath Mukkavilli and Tablesh Pandey will superannuate at the end of May 2025.
• Besides the CEO & MD, LIC has a top management team comprising four Managing Directors.

Nationalist Opposition Candidate Karol Nawrocki Wins Polish Presidential Election with 50.89% of Votes

• Karol Nawrocki, a nationalist opposition candidate, won Poland’s presidential election by securing 50.89% of the vote, as per election commission data.
• Nawrocki’s win is considered a setback for the centrist government led by PM Donald Tusk, which supports a pro-European orientation.
• His victory marks a resurgence of European conservative forces, inspired by US President Donald Trump.
• Nawrocki is likely to use presidential veto powers to block Tusk's liberal policy agenda, leading to potential political gridlock.
• The Law and Justice (PiS) party, which lost power 18 months ago, had introduced controversial judicial reforms.
• These reforms were opposed by the European Union, and the EU’s top court ruled that Poland's judicial appointments did not guarantee impartiality.
• Brussels sued Poland after its Constitutional Tribunal questioned the primacy of EU law.
• Nawrocki’s rival, Rafal Trzaskowski, of the Civic Coalition (KO), had prematurely declared victory based on exit polls.
• Nawrocki, a conservative historian, was backed by PiS and portrayed the election as a referendum on Tusk’s 18-month-old government.

Government Extends Tenure of Punjab & Sind Bank MD S.K. Saha Until February 2027

• The Government has extended the tenure of Swarup Kumar Saha, Managing Director (MD)&Chief Executive Officer (CEO) of Punjab & Sind Bank by about 21 months.
• The extension goes beyond his current notified term, which was ending on June 2, 2025.
• His new tenure is extended until his superannuation date — February 28, 2027, or until further orders, whichever is earlier.
• This extension is as per the Bank’s regulatory filing.
• Swarup Kumar Saha took charge as MD & CEO of Punjab & Sind Bank on June 3, 2022.
• Prior to this, he was the Executive Director of Punjab National Bank from March 10, 2021 to June 2, 2022.

About Punjab & Sind Bank :

• Founded : 24 June 1908
• Headquarters : New Delhi, India

CURRENT AFFAIRS: SPORTS NEWS

South Africa’s Heinrich Klaasen Retires from International Cricket After 7-Year Career

• Veteran South African wicketkeeper-batter Heinrich Klaasen announced his retirement from international cricket, marking the end of a seven-year career that began in 2018.
• Renowned for his aggressive batting in white-ball formats, Klaasen had already retired from red-ball (Test) cricket in 2024.
• His final appearance was in the 2025 ICC Champions Trophy semifinal against New Zealand.

Key Highlights :

Debut & Career Span: Made his international debut in 2018, featuring in ODIs and T20Is over a 7-year career.

Test Retirement:Retired from Test cricket in 2024, focusing solely on limited-overs formats thereafter.

Final Matches:

• Last ODI: vs New Zealand, March 2025 (Champions Trophy semifinal)
• Last T20I: vs Pakistan, December 2024

ODI Career Stats:

• Matches: 60
• Runs: 2141
• Batting Average:43.69
• Strike Rate:117.05
• Centuries/Fifties: 4/11
• Highest Score:174 vs Australia (2023)

T20I Career Stats:

• Matches: 58
• Runs: 1000
• Batting Average: 23.25
• Strike Rate:141.84
• Fifties: 5
• Highest Score: 81 vs India (2022)

Women’s ODI World Cup 2025 to be Hosted by India and Sri Lanka

• The Women’s ODI World Cup 2025 is scheduled to take place from 30th September to 2nd November 2025, jointly hosted by India and Sri Lanka.
• The International Cricket Council (ICC) announced the tournament schedule in Colombo.
• This will be the 13th edition of the Women’s ODI World Cup, featuring eight teams competing across five venues in the two countries.

Key Highlights:

• Venues:
  • India: Bengaluru, Guwahati, Indore, Visakhapatnam
  • Sri Lanka: Colombo
• Participating Teams:
  • India, Australia, England, South Africa, New Zealand, Sri Lanka, Bangladesh, Pakistan
• Tournament Format:
  • The event will showcase the eight teams in a mega tournament format.
  • The final match will be held on 2nd November 2025 either in Bengaluru (India) or Colombo (Sri Lanka).

CURRENT AFFAIRS: BOOKS AND AUTHOR

India’s Political Crossroads: Revisiting Indira Gandhi’s Era Ahead of the Emergency’s 50th Anniversary

• A new book by TCA Srinivasa Raghavan, titled Indira Gandhi and the Years that Transformed India, offers a scholarly and neutral perspective on Indian politics during the 1970s, focusing particularly on the Emergency period (1975-77).
• Released on May 23, 2025, just before the 50th anniversary of the Emergency, the book re-examines the complex power struggles between India’s executive, legislature, and judiciary during Indira Gandhi’s tenure.

Key Highlights :

• Objective of the Book:
  • Provide an objective historian’s account of the Indira Gandhi years.
  • Explain the constitutional struggles among the executive, legislature, and judiciary.
  • Offer meticulous archival research to move beyond sensationalism.
• Key Themes:
  • Institutional Conflict: The 1970s marked a decade of power struggles culminating in the Emergency.
  • Political Transformation: Traces Indira Gandhi’s rise from a perceived weak leader to a dominant political figure.
  • Administrative Changes: Emphasizes governance shifts, especially influenced by Sanjay Gandhi, rather than personal leadership style.
• Historical Context:
  • The Emergency was imposed on June 26, 1975, and lifted in March 1977.
  • It was triggered by the Allahabad High Court’s verdict nullifying Indira Gandhi’s 1971 election.
  • Post-Emergency, Gandhi adopted Leftist economic policies and later promoted secularism in the 1980s.
  • Key personalities involved include P.N. Haksar, Sanjay Gandhi, Nani Palkhiwala, and A.N. Ray.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Innocent Children Victims of Aggression 2025: June 4

• On June 4^th, International Day of Innocent Children Victims of Aggression 2025 is observed all over the world as an awareness event.
• Every year on June 4th, the International Day of Innocent Children Victims of Aggression acknowledges the pain that children around the world suffer.

History

• In 1982, the International Day of Innocent Children Victims of Aggression was established on August 19.
• In 1997, U.N.O.D.C. was established. The United Nations Office on Drugs and Crime, the agency tasked with ending violence against children, was formed.
• In 2018, the Unprecedented Refugee Crisis out broke and this year marks the first time the number of people including children fleeing war, persecution, and conflict exceeds 70 million, according to the U.N. refugee agency.
• In 2019, The Case of Disappearing Human Rights Defenders appeared.
• The United Nations tracked 357 killings and 30 enforced disappearances of human rights defenders, journalists, and trade unionists in 47 countries.

Daily CA One- Liner: June 4

• The Government of India has extended Unified Pension Scheme (UPS) benefits to Central Government employees who retired under the National Pension System (NPS) with at least 10 years of service on or before March 31, 2025
• The Central Government has officially notified the operational guidelines for the Scheme to Promote Manufacturing of Electric Passenger Cars in India
• The Department of Posts (DoP) has introduced a comprehensive policy framework for DHRUVA, a Digital Address Digital Public Infrastructure (DPI) designed to provide a unique and precise digital address for every home in India
• The Telangana State government has established the Kumram Bheem Conservation Reserve, covering 88 square kilometres, to serve as a vital wildlife corridor connecting multiple tiger reserves and sanctuaries across central India
• Union Minister of Ports, Shipping & Waterways, Shri Sarbananda Sonowal, attended the signing of a Memorandum of Understanding (MoU) between Garden Reach Shipbuilders and Engineers Ltd. (GRSE), Kolkata and Norway’s Kongsberg, marking the beginning of India’s indigenous development of its first-ever Polar Research Vessel
• Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal held a bilateral meeting with Japan’s Vice Minister for International Affairs, Terada Yoshimichi, in Oslo, Norway, focusing on strengthening maritime ties between the two countries
• Veteran South African wicketkeeper-batter Heinrich Klaasen announced his retirement from international cricket, marking the end of a seven-year career that began in 2018
• The Women’s ODI World Cup 2025 is scheduled to take place from 30th September to 2nd November 2025, jointly hosted by India and Sri Lanka
• A new book by TCA Srinivasa Raghavan, titled Indira Gandhi and the Years that Transformed India, offers a scholarly and neutral perspective on Indian politics during the 1970s, focusing particularly on the Emergency period (1975-77).
• On June 4^th, International Day of Innocent Children Victims of Aggression 2025 is observed all over the world as an awareness event.
• The Reserve Bank of India (RBI) has launched the 2024-25 round of its annual survey on Foreign Liabilities and Assets (FLA) of Mutual Funds and Asset Management Companies (AMCs).
• The Reserve Bank of India (RBI) may announce a "jumbo rate cut" of 50 basis points (bps) on June 6, 2025, during its Monetary Policy Committee (MPC) meeting to boost the credit cycle and manage uncertainties.
• Nearly two years after the withdrawal of ₹2,000 notes by the Reserve Bank of India (RBI), currency worth ₹6,181 crore is still in circulation as of May 31, 2025.
• Russia is committed to delivering the remaining two units of the S-400 air defence system to India by 2025-26.
• ESPS Reina Sofia (commanded by Cdr Salvador Moreno Regil, Spanish Navy) and ITS Antonio Marceglia (commanded by Cdr Alberto Bartolomeo, Italian Navy) visited Mumbai from 26 May to 01 June 2025 for an operational turnaround.
• S Padmanabhan, PGP '82 alumnus of IIM Bangalore and recipient of the Distinguished Alumni Award (2008), has been appointed Chairman of Tata Chemicals effective 30 May 2025.
• Sailesh C Mehta, Managing Director of Deepak Fertilizers and Petrochemicals Corporation Ltd (DFPCL), has been elected as the new Chairman of the Fertiliser Association of India (FAI).
• The Government of India has decided to appoint Dinesh Pant and Ratnakar Patnaik as Managing Directors (MDs) of Life Insurance Corporation of India (LIC) effective on or after June 1, 2025.
• Karol Nawrocki, a nationalist opposition candidate, won Poland’s presidential election by securing 50.89% of the vote, as per election commission data.
• The Government has extended the tenure of Swarup Kumar Saha, Managing Director (MD)&Chief Executive Officer (CEO) of Punjab & Sind Bank by about 21 months.