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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India and France Hold High-Level Economic & Financial Dialogue in Aix-en-Provence

• Union Finance Minister Nirmala Sitharaman and France’s Minister of Economy, Finance, Industrial, Energy, and Digital Sovereignty Roland Lescure co-chaired the India-France Economic and Financial Dialogue (EFD) in Aix-en-Provence, France.

Key Highlights :

• The India-France Economic and Financial Dialogue (EFD) was held to strengthen the India–France Special Global Strategic Partnership through high-level discussions on economic, financial, investment, trade, and technological cooperation.
• The dialogue was held following the commitment made by Prime Minister Narendra Modi and French President Emmanuel Macron during the latter’s February 2026 visit to India.
• India and France discussed greater coordination in multilateral economic forums, including the G20 and the Paris Club, in the context of India’s association with the French G7 Presidency.
• Both Ministers exchanged views on the global economic outlook and explored ways to strengthen bilateral economic cooperation.
• A key area of discussion was India-France cooperation on Critical Minerals, aimed at enhancing economic sovereignty and strategic security.
• Both countries also discussed measures to increase cross-border investments and expand bilateral investment opportunities.
• The dialogue explored new opportunities in the high-speed railway sector, following the signing of the Declaration of Intent on Railways.
• India and France discussed proposals to strengthen connectivity between their financial industries and deepen financial sector cooperation.
• Both Ministers appreciated the contribution of the French Development Agency (AFD) towards India’s economic development and welcomed future collaborative projects.
• The two countries agreed to use the Economic and Financial Dialogue (EFD) as the primary platform for addressing economic, financial, technological, investment, and trade-related issues between the two nations.
• Both sides also agreed to explore the possibility of holding the next India-France Economic and Financial Dialogue (EFD) in 2027.

Razorpay and NPCI Bharat BillPay Limited Launch Banking Connect to Transform Mobile-First NetBanking Payments

• Razorpay, in partnership with NPCI Bharat BillPay Limited (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), launched Banking Connect, a mobile-first NetBanking solution, in Mumbai, Maharashtra.
• Banking Connect modernises NetBanking by offering unified multi-bank integration, along with QR-based and intent-driven payment flows, improving payment efficiency and customer experience.
• The platform replaces multiple bank-specific integrations and complex reconciliation processes with a single integration layer connecting merchants to multiple participating banks.
• The primary objective of Banking Connect is to enable intent-based and QR-enabled mobile payments through a unified framework for payment routing, settlement, reconciliation, and refunds.
• The solution is designed to improve transaction success rates and deliver a seamless payment experience, particularly for high-value transactions across various sectors.
• The Banking Connect ecosystem is currently supported by State Bank of India (SBI), HDFC Bank, ICICI Bank, Federal Bank, AU Small Finance Bank, and YES Bank, with additional banks expected to join.
• NPCI Bharat BillPay Limited (NBBL) is a wholly-owned subsidiary of the National Payments Corporation of India (NPCI).

Recent News :

• In May 2026, NPCI Bharat BillPay Limited (NBBL), a subsidiary of the National Payments Corporation of India (NPCI), has partnered with Juspay Technologies Private Limited with an aim to launch a unified switch and Software Development Kit (SDK) for the Banking Connect platform.

Asian Development Bank Sanctions USD 182.89 Million Loan for Karnataka Public School Transformation

• The Asian Development Bank (ADB) has approved a USD 182.89 million (Japanese Yen equivalent) loan for Karnataka to strengthen the public school system under the Strengthening Karnataka Public Schools Program.
• The programme aims to establish 500 Integrated Karnataka Public School Clusters, providing seamless education from pre-primary to secondary level.
• The initiative is expected to benefit over 1 million students, including female students and disadvantaged learners, by expanding access to high-quality education and improving academic performance.
• The programme is financed through ADB’s Results-Based Lending (RBL) mechanism and is aligned with the Government of Karnataka’s education reforms and the National Education Policy (NEP) 2020.
• It is ADB’s first large-scale support for public school transformation in India through the Results-Based Lending modality.
• The programme will strengthen teacher competencies, curriculum, assessment systems, school governance, and school management systems.
• It will promote Science, Technology, Engineering, Arts and Mathematics (STEAM) learning and introduce industry-aligned skill modules to improve students’ employability.
• The programme will integrate social inclusion, protection of women and girls, and modern life skills into the curriculum to better prepare students for higher education and future employment.
• The project aims to develop future-ready public schools, especially in underserved areas, while strengthening learning foundations and improving pathways to jobs.
• ADB’s loan will be complemented by a USD 10 million grant and a USD 25 million guarantee from the International Finance Facility for Education (IFFEd).
• IFFEd supports lower-middle-income countries by mobilising additional resources to expand access to quality education and skills development.

Recent News :

• In June 2026, The Asian Development Bank (ADB) approved a USD 42.2 million Small Expenditure Financing Facility (SEFF) to support the bamboo industry in India’s North Eastern Region (NER).

About ADB :

• Formation : 19 December 1966
• Headquarters : Philippines
• President : Masato Kanda
• Members : 69 countries

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Government Launches Electronic Overseas Citizen of India (e-OCI) Card for Digital Travel Convenience

• The Government of India has launched the Electronic Overseas Citizen of India (e-OCI) Card, enabling eligible Overseas Citizen of India (OCI) cardholders to carry a secure digital version of their Overseas Citizen of India (OCI) card on their smartphones.
• The Electronic Overseas Citizen of India (e-OCI) Card can be generated and downloaded through the Official Overseas Citizen of India Services Portal by existing Overseas Citizen of India (OCI) cardholders.
• The digital card can be presented to immigration authorities, airline staff, and other authorised officials as proof of Overseas Citizen of India (OCI) status during travel.
• The initiative eliminates the need to carry the physical Overseas Citizen of India (OCI) booklet on every journey, offering greater convenience for frequent travellers.
• The Government of India has clarified that the physical Overseas Citizen of India (OCI) booklet remains fully valid, and the Electronic Overseas Citizen of India (e-OCI) Card has been introduced as an optional digital facility.
• The initiative is part of the Government's efforts to digitise citizen services and improve service delivery for the Indian diaspora.
• Key benefits of the Electronic Overseas Citizen of India (e-OCI) Card include easy digital access, faster verification during travel, reduced risk of loss or damage to physical documents, and enhanced convenience for Overseas Citizen of India (OCI) cardholders.
• The facility is available only to existing Overseas Citizen of India (OCI) cardholders with a valid Overseas Citizen of India (OCI) card and access to the Official Overseas Citizen of India Services Portal.

Uttar Pradesh Rashtriya Parivarik Labh Yojana Provides ₹30,000 Financial Assistance to Bereaved Families

• The Uttar Pradesh Rashtriya Parivarik Labh Yojana, implemented under the National Family Benefit Scheme (NFBS), provides one-time financial assistance of ₹30,000 to Below Poverty Line (BPL) families following the death of their primary earning member.
• The scheme aims to provide immediate financial support to economically weaker families facing hardship due to the loss of their sole breadwinner.
• The financial assistance is transferred directly to the Aadhaar-linked bank account of the eligible beneficiary through the Direct Benefit Transfer (DBT) mechanism.
• Applications under the scheme are accepted only through the online portal, enabling eligible families across Uttar Pradesh to apply digitally.
• To be eligible, the deceased breadwinner must have been 18–60 years of age, and the applicant must be a permanent resident of Uttar Pradesh belonging to a Below Poverty Line (BPL) family.
• The annual family income should not exceed ₹56,450 in urban areas and ₹46,080 in rural areas.
• Required documents include the death certificate, Below Poverty Line (BPL) ration card, Aadhaar card, Aadhaar-linked bank account details, domicile certificate, age proof, passport-size photograph, and registered mobile number.
• Applications are verified by the District Social Welfare Officer, who scrutinises the submitted documents and may conduct field verification before approving the financial assistance.

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kishanpur Wildlife Sanctuary, Hastinapur Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, Kaimur Wildlife Sanctuary, Bakhira Wildlife Sanctuary, Nawabganj Bird Sanctuary, Okhla Bird Sanctuary

RECENT NEWS

• The state government of the Uttar Pradesh launched the ‘Project Ganga’’, it is the transformative initiative which aimed at to expanding the high-speed internet connectivity in the rural areas of state

West Bengal Receives Geographical Indication (GI) Tags for Three Traditional Products

• West Bengal has received Geographical Indication (GI) registration for three traditional products from Hooghly district—Chandannagar's Jalbhara Sandesh, Janai's Manohara, and Balagarh's Traditional Wooden Boats (Dingi Boats).
• The Geographical Indication (GI) tags were granted by the Government of India, providing legal protection and promoting the unique identity of these products in domestic and international markets.
• Jalbhara Sandesh, one of Bengal's iconic sweets, was created in the 19th century by renowned confectioner Surya Modak and is popularly known as "Jamai Thokano Mishti".
• The sweet is distinguished by its liquid rose-flavoured syrup filling, enclosed within a sandesh resembling an ice apple kernel, giving it the name "Jalbhara", meaning "filled with liquid."
• Janai's Manohara is a traditional Bengali sweet known for its sugar-coated outer layer and soft chhena (cottage cheese) filling, prepared using a unique regional recipe.
• Balagarh's Traditional Wooden Boats (Dingi Boats) represent a 500-year-old boat-building tradition associated with the historic Saptagram Port and have long been used for trade, fishing, transportation, and river navigation.
• The Geographical Indication (GI) tags will help protect these products from imitation, preserve traditional craftsmanship, enhance market value, and create better opportunities for local artisans and producers.

About Geographical Indication (GI) Tag

• Governing Law: Geographical Indications of Goods (Registration and Protection) Act, 1999
• Administered by: Geographical Indications Registry, Chennai
• Purpose: To provide legal protection to products whose quality, reputation, or characteristics are linked to a specific geographical region.

About West Bengal:

• Chief Minister: Suvendu Adhikari
• Governor: N. Ravi
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Gorumara National Park, Singalila National Park, Neora Valley National Park, Buxa National Park
• Wildlife Sanctuaries: Senchal Wildlife Sanctuary, Buxa Wildlife Sanctuary, Raiganj Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Chintamani Kar Bird Sanctuary, Lothian Island Wildlife Sanctuary, West Sundarban Wildlife Sanctuary

RECENT NEWS

• The sate of West Bengal set to become the 36th State/Union Territory t implement the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) and it marks the significant milestone in country’ journey towards the universal health coverage. 

Himachal Pradesh Receives Geographical Indication (GI) Tags for Eight Traditional Products

• Himachal Pradesh has received Geographical Indication (GI) registration for eight traditional products, taking the total number of GI-tagged products in the state to 17.
• The newly registered Geographical Indication (GI) products are:
• Spiti Seabuckthorn (Chharma)
• Salooni Safed Makka (White Maize)
• Chamba Metal Art
• Sirmauri Loiya (traditional woollen garment)
• Kinnauri Topi
• Sepuvadi of Mandi
• Kinnauri Apple
• Kinnauri Jewellery
• The Geographical Indication (GI) tags recognise the unique agricultural, cultural, and artisanal heritage of Himachal Pradesh and provide legal protection against unauthorised imitation.
• Geographical Indication (GI) registration is granted to products whose quality, reputation, or characteristics are linked to a specific geographical region.
• In India, Geographical Indication (GI) registration is governed by the Geographical Indications of Goods (Registration and Protection) Act, 1999.
• The new Geographical Indication (GI) registrations are expected to enhance the market value of local products, promote exports, protect traditional knowledge, and create better livelihood opportunities for farmers, artisans, and rural entrepreneurs.
• The Government of Himachal Pradesh is also pursuing Geographical Indication (GI) registration for Bhot Jau (Barley), Chamba Chukh, Plectranthus Honey, and Sirmaur Ginger.

About Himachal Pradesh:

• Chief Minister: Sukhvinder Singh Sukhu
• Governor: Kavinder Gupta
• Capital: Shimla
• National Parks: Great Himalayan National Park, Pin Valley National Park, Inderkilla National Park, Khirganga National Park, Simbalbara National Park
• Wildlife Sanctuaries: Pong Dam Lake Wildlife Sanctuary, Renuka Wildlife Sanctuary, Kalatop-Khajjiar Wildlife Sanctuary, Kibber Wildlife Sanctuary, Kais Wildlife Sanctuary, Daranghati Wildlife Sanctuary, Kugti Wildlife Sanctuary

India and Mali Launch India-Mali Forum for the Promotion of Exports

• India and Mali jointly launched the India-Mali Forum for the Promotion of Exports in Bamako, marking the first institutionalised bilateral platform to strengthen trade and commercial cooperation between the two countries.
• The two-day forum was organised under the theme "Reinforcing Trade and Strategic Partnerships" to promote collaboration in trade, investment, manufacturing, infrastructure, and strategic sectors.
• The forum was jointly organised by the Ministry of Industry and Trade of Mali, the Embassy of India in Bamako, and the Malian Agency for the Promotion of Exports (APEX-Mali).
• The Indian delegation was led by Amit Kumar, Joint Secretary (Foreign Trade–Africa), Department of Commerce, and Dr. N. Nandakumar, Ambassador of India to Mali.
• The event was presided over by Major General Abdoulaye Maïga, Prime Minister of Mali's Transition Government, and witnessed the participation of around 30 Indian business leaders.
• India-Mali bilateral trade reached US$326.61 million during Financial Year (FY) 2025–26, registering a 55% year-on-year growth over the previous financial year.
• The growth in bilateral trade has been supported by India's Duty-Free Tariff Preference (DFTP) Scheme, which provides preferential market access to Least Developed Countries (LDCs), including Mali.
• Mali's major exports to India include raw cotton, finished leather, cashew, lead, gum arabic, and sesame, while India exports pharmaceuticals, cotton fabrics, two-wheelers, three-wheelers, and bicycles to Mali.
• The forum featured Business-to-Business (B2B), Business-to-Government (B2G), and Government-to-Government (G2G) meetings to promote investments and facilitate the signing of Memorandums of Understanding (MoUs).
• Both countries identified cotton and textiles, mining and energy, agro-industry and shea processing, pharmaceuticals, and social infrastructure as priority sectors for future cooperation.
• Mali sought India's support for digitising its Certificate of Origin system and strengthening trade facilitation, while India emphasised the protection of Indian nationals and investments and requested a review of Mali's shea-nut export ban.
• Mali also announced that it will host an Investment Forum on 3–4 December 2026 to showcase investment-ready projects under its long-term development strategy, Vision Mali 2063.

About Mali

• Capital: Bamako
• Currency: West African CFA Franc (XOF)
• President (Transition): Assimi Goïta
• Prime Minister: Abdoulaye Maïga

National Commission for Women (NCW) Launches 24×7 Women Helpline 14490

• The National Commission for Women (NCW) has launched a 24×7 toll-free Women Helpline (14490) to provide immediate assistance, complaint registration, psychological counselling, and grievance redressal for women in distress.
• The helpline has been introduced as part of the Digital India initiative to improve access to institutional support through a technology-enabled platform.
• Women and girls aged 18 years and above can use the helpline to report cases related to domestic violence, harassment, workplace exploitation, dowry-related issues, abuse, and other forms of gender-based violence.
• The new helpline 14490 is integrated with the existing National Commission for Women (NCW) helpline number 7827170170, providing a simple and easily accessible contact point.
• The helpline offers digital complaint registration, immediate guidance, professional psychological counselling, referral to concerned authorities, information on government welfare schemes, and grievance redressal support.
• The service is staffed by trained psychological counsellors from leading mental health and counselling institutions to provide professional and compassionate assistance.
• Complaints received through the helpline are examined by the National Commission for Women (NCW) to determine whether they fall within its legal jurisdiction. Eligible complaints are registered, assigned a unique case number, and monitored until resolution.
• Depending on the nature of the complaint, the National Commission for Women (NCW) may coordinate with police authorities, facilitate counselling or mediation, monitor legal proceedings, or constitute an inquiry committee for serious cases.
• The National Commission for Women (NCW) will also analyse complaint trends to identify gaps in women's safety, recommend policy reforms, strengthen protection mechanisms, and support awareness and sensitisation initiatives.

About National Commission for Women (NCW)

• Established: 1992
• Headquarters: New Delhi
• Founded under: National Commission for Women Act, 1990
• Chairperson: Vijaya Rahatkar

Unique Identification Authority of India (UIDAI) Launches Free Email ID Update Facility Through Aadhaar App

• The Unique Identification Authority of India (UIDAI) has launched a new digital facility enabling Aadhaar holders to add or update their email ID through the official Aadhaar App, eliminating the need to visit an Aadhaar Seva Kendra or enrolment centre.
• The facility became available from 1 July 2026 and will be free of cost for six months.
• The initiative aims to promote self-service Aadhaar updates and encourage residents to keep their Aadhaar details up to date.
• According to the Unique Identification Authority of India (UIDAI), over 2.5 lakh residents updated their email IDs within the first two days of the launch, indicating strong public adoption.
• The Aadhaar App also allows users to update their mobile number, address, and other eligible Aadhaar-related services digitally.
• Since its rollout, more than 40 lakh users have updated their mobile numbers, while around 10 lakh residents have updated their addresses through the Aadhaar App.
• The initiative supports the Government of India's vision of delivering citizen-centric, paperless, and digital public services by reducing physical visits to Aadhaar centres.

About Unique Identification Authority of India (UIDAI)

• Established: 2009
• Headquarters: New Delhi
• Parent Ministry: Ministry of Electronics and Information Technology (MeitY)
• Chief Executive Officer (CEO): Saurabh Vijay

RECENT NEWS

• The Unique Identification Authority of India (UIDAI) has launched its first of structured Bug Bounty Program. This program launches to further strengthen the security of the Aadhaar digital ecosystem. This initiative aims to identify potential vulnerabilities in key UIDAI digital platforms through the expertise of cybersecurity professionals.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ravi Shankar Takes Charge as Executive Director of the Reserve Bank of India

• The Reserve Bank of India (RBI) appointed Ravi Shankar as Executive Director (ED) with effect from 1 July 2026.
• As Executive Director, Ravi Shankar will oversee the Department of Statistics and Information Management (DSIM).
• Before his promotion, Ravi Shankar was serving as Adviser-In-Charge of the Department of Statistics and Information Management (DSIM).
• Ravi Shankar is a central banker and statistician with over three decades of experience at the Reserve Bank of India (RBI).
• During his RBI career, he has worked in the areas of banking statistics, corporate data, government securities markets, settlement systems, debt management, and economic analysis.
• He has also served as a member of several RBI committees and working groups dealing with macroeconomic statistics and policy-related issues.
• The Department of Statistics and Information Management (DSIM) is responsible for statistical data collection, compilation, analysis, banking and corporate statistics, surveys, and data used for monetary and financial policy analysis.

About RBI :

• Established: 1 April 1935 under the Reserve Bank of India Act, 1934, and serves as India’s central bank.
• Nationalised: 1 January 1949
• Headquarters: Mumbai, Maharashtra
• Governor: Sanjay Malhotra (26th Governor)
• Deputy Governors: Rohit Jain, Shirish Chandra Murmu, Swaminathan Janakiraman, Poonam Gupta
• Wholly Owned by RBI:
• BRBNMPL – Bharatiya Reserve Bank Note Mudran Private Limited
• DICGC – Deposit Insurance and Credit Guarantee Corporation
• ReBIT – Reserve Bank Information Technology Private Limited
• RBIH – Reserve Bank Innovation Hub
• Promoted by RBI (Now Government-owned):
• NABARD – National Bank for Agriculture and Rural Development
• NHB – National Housing Bank
• The RBI is responsible for monetary policy, currency management, and regulation of the financial system.
• The RBI organisational structure consists of 15 Executive Directors (EDs) and 1 Chief Financial Officer (CFO) overseeing key functional departments.
• Gunveer Singh was recently appointed as Executive Director (ED) of the Department of Payment and Settlement Systems (DPSS).

Bijay Kumar Mohanty Takes Over Additional Charge as Chairman and Managing Director of Indian Renewable Energy Development Agency Limited

• Bijay Kumar Mohanty, currently serving as Director (Finance) and Chief Financial Officer (CFO) of Indian Renewable Energy Development Agency Limited (IREDA), has assumed additional charge as Chairman and Managing Director (CMD) of IREDA.
• His appointment is effective from 1 July 2026 for a period of three months, following the superannuation of Pradip Kumar Das on 30 June 2026.
• Bijay Kumar Mohanty also serves on the Board of IREDA Global Green Energy Finance IFSC Limited, a wholly-owned subsidiary of IREDA.
• He has over 27 years of experience in India's power and renewable energy sector.
• During his career, he has held senior positions in REC Limited, REC Power Development and Consultancy Limited (RECPDCL), Central Electricity Supply Company of Odisha Limited (CESCO), and Grid Corporation of Odisha Limited (GRIDCO).
• His areas of expertise include project financing, financial management, accounts, treasury operations, project appraisal, execution management, and commercial & legal functions.

About IREDA :

• Indian Renewable Energy Development Agency Limited (IREDA) is a Government-owned Navratna Public Sector Undertaking (PSU) functioning under the Ministry of New and Renewable Energy (MNRE).
• IREDA provides financial assistance for renewable energy projects, including solar energy, wind energy, hydropower, green hydrogen, and energy storage projects.

Former Chief Election Commissioner Rajiv Kumar Named Part-Time Chairman of HDFC Bank

• HDFC Bank Limited appointed Rajiv Kumar, former Chief Election Commissioner (CEC) of India, as its Part-Time Chairman for a period of 3 years, effective from the date of approval by the Reserve Bank of India (RBI).
• Rajiv Kumar has also been appointed as an Additional Independent Director on the Board of HDFC Bank for a 4-year term, effective from 30 June 2026.
• He will succeed Keki Mistry, who was serving as the Interim Chairman of HDFC Bank.
• Keki Mistry was appointed as Interim Chairman after Atanu Chakraborty voluntarily stepped down in March 2026, citing ethical concerns and issues inconsistent with his personal values.
• Rajiv Kumar's appointment is subject to the approval of the Reserve Bank of India (RBI).
• Before this appointment, Rajiv Kumar served as Finance Secretary to the Government of India and later as the Chief Election Commissioner (CEC), where he supervised the 2024 General Elections.
• As Finance Secretary (2017–2020), Rajiv Kumar played a key role in the merger of 10 Public Sector Banks into 4 larger banks, implemented the bank recapitalisation programme, and contributed significantly to banking sector reforms.
• The appointment reflects the practice of Indian banks appointing retired senior bureaucrats and former regulators as board chairpersons to strengthen corporate governance and regulatory oversight.
• Following Atanu Chakraborty's resignation, HDFC Bank experienced investor concerns and a decline in market value, highlighting the importance of strong governance.
• Separately, HDFC Bank appointed Puneet Sharma, an executive from Axis Bank, as its new Chief Financial Officer (CFO), effective 1 December 2026.

About HDFC Bank:

• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Sashidhar Jagdishan
• Tagline: "We understand your world"

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Bharat Petroleum Corporation Limited Completes ₹2,312 Crore Acquisition of IBV Brazil Petroleo, Becomes Sole Owner

• Bharat Petroleum Corporation Limited (BPCL), through its overseas subsidiary BPRL Ventures BV (Bharat PetroResources Limited Ventures BV), acquired the remaining 34.6% stake of Videocon Energy Brazil Limited (VEBL) in IBV Brazil Petroleo Limitada.
• With this acquisition, BPCL's shareholding in IBV Brazil Petroleo Limitada increased from 65.40% to 100%, making it a wholly owned subsidiary of BPRL Ventures BV.
• The acquisition was completed through a deal valued at ₹2,312 crore.
• The transaction was executed under the Corporate Insolvency Resolution Process (CIRP) of VOVL Limited.
• The acquisition received approvals from the Government of India (GoI) and is subject to final registration by the Brazilian authorities, in accordance with the National Company Law Tribunal (NCLT)
• IBV Brazil Petroleo Limitada holds participating interests in Brazilian oil and gas assets, including the strategically important BM-SEAL-11 concession, which is currently under development.
• The acquisition is expected to increase BPCL's annual equity production by approximately 1 million tonnes of oil equivalent (MTOE) once production commences from the BM-SEAL-11 block.
• The deal strengthens BPCL's international upstream oil and gas portfolio and expands its presence in the Brazilian energy sector.

Recent News :

• In July 2026, Bharat Petroleum Corporation Limited (BPCL), a 'Maharatna' Public Sector Undertaking (PSU) under the Ministry of Petroleum and Natural Gas (MoPNG), signed a Share Purchase Agreement (SPA) to acquire a 40% equity stake in Tiki Tar and Shell India Private Limited (TTSIPL).

About BPCL :

• Bharat Petroleum Corporation Limited (BPCL) is a 'Maharatna' Public Sector Undertaking (PSU) functioning under the Ministry of Petroleum and Natural Gas (MoPNG).
• BPCL was established in 1952 and is headquartered in Mumbai, Maharashtra.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Institute of Technology Delhi and Defence Research and Development Organisation Develop India’s First Indigenous Tactical Aerostat with 20 km Surveillance Capability

• The Indian Institute of Technology (IIT) Delhi, in collaboration with the Defence Research and Development Organisation (DRDO) and a domestic startup, developed India’s first indigenous tactical aerostat.
• The indigenous tactical aerostat is a low-cost, high-altitude, balloon-based platform capable of carrying surveillance and communication payloads with an operational coverage of up to 20 km.
• The platform is equipped with Electro-optical (EO) cameras, Infrared (IR) sensors, and communication relay systems for persistent aerial surveillance and communication support.
• Compared to drones, the tactical aerostat offers higher endurance, greater payload capacity, persistent surveillance, and extended communication support.
• The system is primarily designed for defence surveillance and has future applications in border security, disaster response, emergency communication, and civilian connectivity.
• The development strengthens India’s indigenous defence ecosystem by reducing import dependence and promoting collaboration among academia, DRDO, and startups.

About DRDO :

• Defence Research and Development Organisation (DRDO) is India’s premier military research agency.
• Established : 1958
• Headquarters : New Delhi, Delhi.
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Rajesh Kumar Singh

Ministry of Civil Aviation Clears India’s First Private PinS Satellite-Based Instrument Approach Procedure for Helicopters

• The Ministry of Civil Aviation (MoCA) approved India’s first Private Point-in-Space (PinS) Instrument Approach Procedure for helicopter operations at Undavalli Heliport, Amaravati, Andhra Pradesh.
• The PinS Instrument Approach Procedure was developed by the Airports Authority of India (AAI) and approved by the Directorate General of Civil Aviation (DGCA).
• The procedure has been developed in accordance with DGCA regulations and the International Civil Aviation Organization (ICAO) Standards and Recommended Practices (SARPs).
• Point-in-Space (PinS) is a satellite-guided instrument approach procedure designed specifically for helicopter operations.
• The system is based on Performance-Based Navigation (PBN) using the Global Navigation Satellite System (GNSS) together with India’s GAGAN (GPS Aided GEO Augmented Navigation)
• The PinS procedure enables helicopters to perform safe and precise approaches to heliports without depending on ground-based radar or Instrument Landing System (ILS)
• The system supports Instrument Flight Rules (IFR) operations, ensuring safe helicopter flights in hilly, remote, and low-visibility weather conditions.
• The procedure eliminates the need for ground-based navigation aids, making helicopter operations more efficient and accessible in difficult terrains.
• The PinS Instrument Approach Procedure will enhance services such as emergency medical services (EMS), disaster relief, tourism, offshore operations, pilgrimage services, corporate aviation, and regional connectivity.
• GAGAN (GPS Aided GEO Augmented Navigation) is India’s Satellite-Based Augmentation System (SBAS) that enhances navigation accuracy for civil aviation.

About Ministry of Civil Aviation :

• Cabinet Minister : Kinjarapu Ram Mohan Naidu
• Minister of State : Murlidhar Kisan Mohol

National Commission for Women Launches 24×7 Women Helpline 14490 for Digital Complaint Registration and Support

• National Commission for Women (NCW) is the apex statutory body established to protect, promote, and safeguard the rights and interests of women in India.
• NCW works on issues such as dowry, domestic violence, equal employment opportunities, labour exploitation, and women’s welfare and empowerment.
• To support women in distress, NCW operates the 24×7 Women Helpline – 14490, providing a Digital Complaint Registration System for women affected by violence and abuse.
• The Women Helpline – 14490 is a toll-free, easy-to-remember short code linked to the existing NCW Helpline – 7827170170.
• Women and girls aged 18 years and above can contact the 14490 Helpline to register complaints, seek immediate assistance, and receive psychological counselling.
• The helpline is staffed by trained psychological counsellors from leading mental health and counselling institutions, ensuring professional, confidential, and compassionate support.
• The NCW Women Helpline supports the vision of Digital India by providing round-the-clock digital access to complaint registration, counselling, referral services, and information on government schemes.
• The nationwide 14490 Helpline enables faster access to assistance, particularly during emergencies, making public services more accessible and citizen-centric.
• NCW analyses complaints received through the helpline to identify crime trends against women, institutional gaps, and areas requiring policy and administrative reforms.
• Complaint analysis is used to recommend corrective measures and serves as case study material for the training and sensitisation of police personnel, judicial officers, prosecutors, forensic scientists, defence lawyers, and administrative officials.
• Every complaint received by NCW is first examined to determine whether it falls within the Commission’s jurisdiction.
• Complaints covered under the NCW mandate are registered, assigned a unique case number, and processed for appropriate action, while complaints outside its jurisdiction are closed after informing the complainant.
• NCW facilitates grievance redressal by expediting and monitoring police investigations, ensuring proper implementation of statutory provisions, and promoting mediation and counselling wherever appropriate.
• In cases involving serious crimes against women, NCW constitutes an Inquiry Committee to investigate the matter comprehensively and recommend further action.

LokOS: Driving Digital Transformation of Rural Livelihoods and Self-Help Groups

• LokOS (Lok = People, OS = Operating System) is a web and mobile digital platform developed under the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM) for the end-to-end digitization of Self-Help Groups (SHGs) and their federations.

Key Highlights :

• DAY-NRLM is the Government of India’s flagship rural poverty alleviation programme, promoting self-employment, skilled jobs, and sustainable livelihoods for poor rural households.
• LokOS digitizes the functioning of Self-Help Groups (SHGs) and Community-Based Organizations (CBOs) by maintaining member records, profiles, savings, loans, repayments, financial transactions, livelihood records, and government scheme convergence.
• The platform reduces manual record-keeping, enables real-time transaction tracking, enhances transparency, accountability, and operational efficiency, and digitally captures nearly ₹2 lakh crore worth of SHG financial transactions annually.
• The LokOS Web Application is designed for administrators, E-bookkeepers, and transaction approvers to create, manage, and approve SHGs, Village Organizations (VOs), Cluster Level Federations (CLFs), and their members.
• The LokOS Mobile Application enables field-level recording and management of Community-Based Organization (CBO) activities, ensuring efficient data collection and monitoring.
• SHE-LEAPS (Self-Help Entrepreneur–Livelihoods and Enterprise Application for Prosperity and Sustainability) was launched on 29 June 2026 and is implemented under the LokOS platform to empower rural women entrepreneurs associated with SHGs.
• SHE-LEAPS provides a unified digital platform for enterprise creation, business management, and performance tracking, supporting both farm and non-farm enterprises.
• LokOS generates Aadhaar-linked and bank-linked digital identities for Community-Based Organizations (CBOs) and their members, strengthening digital governance.
• The platform maintains digital financial records covering savings, loans, repayments, and other financial transactions, improving financial transparency within SHGs.
• Livelihood profiling under LokOS captures beneficiary livelihood information to improve planning, monitoring, and convergence with government welfare schemes.
• Role-based administration enables user management, approvals, monitoring, and reporting from the village level to the national level.
• Real-time dashboards, analytics, and one-click reports support data-driven decision-making and effective programme implementation.
• LokOS currently covers 34 States and Union Territories, 762 districts, 7,241 blocks, 2.57 lakh Gram Panchayats, and 5.92 lakh villages across India.
• The platform digitally integrates 34,314 Cluster Level Federations (CLFs), 5.62 lakh Village Organizations (VOs), 94.16 lakh Self-Help Groups (SHGs), and over 10.03 crore SHG members.
• LokOS tracks financial assistance including ₹9,718.41 crore Revolving Fund (RF), ₹64,607.66 crore Community Investment Fund (CIF), and ₹38.34 crore Community Enterprise Fund (CEF).
• The platform plays a major role in supporting the Lakhpati Didi Initiative through beneficiary tracking, digital monitoring, and livelihood planning.
• LokOS supports the Lakhpati Didi Mission through a network of 6,611 Master Trainers, 4.09 lakh Community Resource Persons (CRPs), and 3.87 crore Potential Lakhpati Didis (PLDs).
• The platform also maintains 18.50 crore Digital Aajeevika Registers (DARs), providing a strong digital foundation for livelihood planning, monitoring, and programme implementation.

CURRENT AFFAIRS: MOUS AND AGREEMENT

ACME Group Signs Nearly US$1 Billion Green Methanol Supply Agreement with Mitsubishi Gas Chemical

• ACME Group has signed a binding long-term agreement worth nearly US$1 billion with Mitsubishi Gas Chemical (MGC), Japan, to supply 100,000 tonnes of green methanol annually from its upcoming production facility at Paradip, Odisha.
• The agreement was announced during the 16th India-Japan Annual Summit and strengthens India-Japan cooperation in clean energy, sustainable industrial development, and resilient supply chains.
• The green methanol produced by ACME Group will primarily be used as marine fuel in Japan, supporting the shipping industry's efforts to reduce greenhouse gas emissions and meet global environmental standards.
• The project is one of India's largest commercial green fuel export initiatives and provides a long-term overseas market for Indian-produced green methanol.
• Green methanol is produced by combining green hydrogen, generated using renewable energy, with captured carbon dioxide (CO₂), making it a low-carbon alternative to conventional fuels.
• Green methanol can be transported using existing shipping infrastructure, requires minimal modifications to storage facilities, and can be handled through existing fuel bunkering systems, making it a commercially viable fuel for the maritime sector.
• The fuel supplied under the agreement will comply with Renewable Fuels of Non-Biological Origin (RFNBO) standards of the European Union (EU) and future regulations of the International Maritime Organization (IMO).
• The agreement provides a long-term international buyer for India's green methanol production, supporting the objectives of the National Green Hydrogen Mission by improving project viability and reducing investment risks.
• Japan is expected to emerge as one of the world's largest importers of green fuels due to its limited domestic renewable energy resources.

CURRENT AFFAIRS: IMPORTANT DAYS

World Zoonoses Day 2026 Observed on 6 July

• World Zoonoses Day 2026 is observed globally on 6 July 2026 to raise awareness about zoonotic diseases, which are diseases that spread between animals and humans.
• The day commemorates the first successful administration of the rabies vaccine by Louis Pasteur, a French biologist and microbiologist, to Joseph Meister on 6 July 1885, after he was bitten by a rabid dog.
• The observance aims to promote awareness about the prevention, surveillance, and control of zoonotic diseases through the One Health approach, which recognises the interconnected health of humans, animals, and the environment.
• According to the World Health Organization (WHO), over 60% of known infectious diseases in humans and about 75% of emerging infectious diseases originate from animals.
• Major zoonotic diseases include Rabies, Ebola Virus Disease, Avian Influenza (Bird Flu), Swine Influenza (H1N1), Nipah Virus Disease, Anthrax, Plague, and Coronavirus Disease 2019 (COVID-19).
• Rabies remains one of the deadliest zoonotic diseases and is almost 100% fatal after the onset of symptoms, but it is completely preventable through timely vaccination.
• The day highlights the importance of vaccination, responsible animal care, disease surveillance, food safety, and collaboration between human and veterinary health sectors to reduce the risk of zoonotic disease outbreaks.

About World Health Organization (WHO)

• Established: 1948
• Headquarters: Geneva, Switzerland
• Director-General: Dr. Tedros Adhanom Ghebreyesus

International Day of Cooperatives 2026 Observed on 4 July

• International Day of Cooperatives 2026 was observed globally on 4 July 2026, the first Saturday of July.
• The 2026 theme is "Cooperatives for a Peaceful World", highlighting the role of cooperatives in promoting peace, social cohesion, inclusion, solidarity, and sustainable development.
• The day aims to raise awareness about the contribution of cooperatives to economic development, social justice, democratic participation, and community resilience.
• The International Cooperative Alliance (ICA) has observed the day since 1923.
• The United Nations General Assembly (UNGA) officially proclaimed the International Day of Cooperatives in 1992 through Resolution 47/90, with the first joint United Nations (UN) observance held in 1995, marking the centenary of the International Cooperative Alliance (ICA).
• The International Cooperative Alliance (ICA) was established in 1895 in London, United Kingdom, and is currently headquartered in Brussels, Belgium.
• The Committee for the Promotion and Advancement of Cooperatives (COPAC) was established in 1968 to promote and strengthen the global cooperative movement.

About International Cooperative Alliance (ICA)

• Established: 1895
• Headquarters: Brussels, Belgium
• President: Ariel Guarco
• Director General: Jeroen Douglas

Daily CA One- Liner: July 5^th & 6^th

• The Government of India has launched the Electronic Overseas Citizen of India (e-OCI) Card, enabling eligible Overseas Citizen of India (OCI) cardholders to carry a secure digital version of their Overseas Citizen of India (OCI) card on their smartphones
• The Uttar Pradesh Rashtriya Parivarik Labh Yojana, implemented under the National Family Benefit Scheme (NFBS), provides one-time financial assistance of ₹30,000 to Below Poverty Line (BPL) families following the death of their primary earning member
• West Bengal has received Geographical Indication (GI) registration for three traditional products from Hooghly district—Chandannagar's Jalbhara Sandesh, Janai's Manohara, and Balagarh's Traditional Wooden Boats (Dingi Boats).
• Himachal Pradesh has received Geographical Indication (GI) registration for eight traditional products, taking the total number of GI-tagged products in the state to 17
• India and Mali jointly launched the India-Mali Forum for the Promotion of Exports in Bamako, marking the first institutionalised bilateral platform to strengthen trade and commercial cooperation between the two countries
• The National Commission for Women (NCW) has launched a 24×7 toll-free Women Helpline (14490) to provide immediate assistance, complaint registration, psychological counselling, and grievance redressal for women in distress
• The Unique Identification Authority of India (UIDAI) has launched a new digital facility enabling Aadhaar holders to add or update their email ID through the official Aadhaar App, eliminating the need to visit an Aadhaar Seva Kendra or enrolment centre
• ACME Group has signed a binding long-term agreement worth nearly US$1 billion with Mitsubishi Gas Chemical (MGC), Japan, to supply 100,000 tonnes of green methanol annually from its upcoming production facility at Paradip, Odisha.
• Union Finance Minister Nirmala Sitharaman and France’s Minister of Economy, Finance, Industrial, Energy, and Digital Sovereignty Roland Lescure co-chaired the India-France Economic and Financial Dialogue (EFD) in Aix-en-Provence, France.
• Razorpay, in partnership with NPCI Bharat BillPay Limited (NBBL), a wholly-owned subsidiary of the National Payments Corporation of India (NPCI), launched Banking Connect, a mobile-first NetBanking solution, in Mumbai, Maharashtra.
• The Asian Development Bank (ADB) has approved a USD 182.89 million (Japanese Yen equivalent) loan for Karnataka to strengthen the public school system under the Strengthening Karnataka Public Schools Program.
• The Reserve Bank of India (RBI) appointed Ravi Shankar as Executive Director (ED) with effect from 1 July 2026.
• Bijay Kumar Mohanty, currently serving as Director (Finance) and Chief Financial Officer (CFO) of Indian Renewable Energy Development Agency Limited (IREDA), has assumed additional charge as Chairman and Managing Director (CMD) of IREDA.
• HDFC Bank Limited appointed Rajiv Kumar, former Chief Election Commissioner (CEC) of India, as its Part-Time Chairman for a period of 3 years, effective from the date of approval by the Reserve Bank of India (RBI).
• Bharat Petroleum Corporation Limited (BPCL), through its overseas subsidiary BPRL Ventures BV (Bharat PetroResources Limited Ventures BV), acquired the remaining 34.6% stake of Videocon Energy Brazil Limited (VEBL) in IBV Brazil Petroleo Limitada.
• The Indian Institute of Technology (IIT) Delhi, in collaboration with the Defence Research and Development Organisation (DRDO) and a domestic startup, developed India’s first indigenous tactical aerostat.
• The Ministry of Civil Aviation (MoCA) approved India’s first Private Point-in-Space (PinS) Instrument Approach Procedure for helicopter operations at Undavalli Heliport, Amaravati, Andhra Pradesh.
• National Commission for Women (NCW) is the apex statutory body established to protect, promote, and safeguard the rights and interests of women in India.
• LokOS (Lok = People, OS = Operating System) is a web and mobile digital platform developed under the Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY-NRLM) for the end-to-end digitization of Self-Help Groups (SHGs) and their federations.
• World Zoonoses Day 2026 is observed globally on 6 July 2026 to raise awareness about zoonotic diseases, which are diseases that spread between animals and humans
• International Day of Cooperatives 2026 was observed globally on 4 July 2026, the first Saturday of July