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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Government Unveils Reforms to Boost Foreign Portfolio Investment and Strengthen the Government Securities Market

• The Ministry of Finance (MoF) announced a series of reforms to strengthen India's position as a global investment destination, deepen capital markets, and attract stable long-term foreign capital flows.
• The reforms aim to enhance the ease of investment for Persons Resident Outside India (PROIs) and Foreign Portfolio Investors (FPIs).
• These measures are designed to make foreign investment in Indian Equities and Government Securities (G-Secs) more accessible, efficient, and globally competitive.

Key Highlights :

• In the Union Budget FY 2026-27, the Government announced that individual Persons Resident Outside India (PROIs) will be allowed to invest in equity instruments of listed Indian companies through the Portfolio Investment Scheme (PIS).
• Earlier, the Portfolio Investment Scheme (PIS) was available only to Non-Resident Indians (NRIs) and Overseas Citizens of India (OCIs).
• The investment limit for an individual PROI under the Portfolio Investment Scheme (PIS) has been increased from 5% to 10% in any listed Indian company.
• The overall investment limit for all individual PROIs under the scheme has been increased from 10% to 24%.
• To implement these changes, the Department of Economic Affairs (DEA) is notifying the Foreign Exchange Management (Non-Debt Instruments) (Third Amendment) Rules, 2026.
• The reform will facilitate greater mobilization of foreign portfolio capital through existing onboarding systems available for NRI and OCI investors.
• Simplified onboarding procedures and reduced compliance requirements are expected to improve the Ease of Doing Business (EoDB) in India's capital markets.
• The reforms are expected to attract a broader base of relatively stable individual foreign investors and support stronger foreign inflows into Indian equity markets.
• To enhance participation by Foreign Portfolio Investors (FPIs) in Government Securities (G-Secs), the Government has expanded the scope of the Fully Accessible Route (FAR).
• Under the revised framework, newly issued Government Securities with maturities of 15 years, 30 years, and 40 years will be included under the Fully Accessible Route (FAR).
• Sovereign Green Bonds (SGrBs) issued in FAR-eligible tenors will also be included under the Fully Accessible Route (FAR).
• For FPI investments under the General Route, the Government has removed three major restrictions: Short-Term Investment Limit, Concentration Limit, and Security-Wise Investment Limit.
• The overall quantitative limit for FPI investments remains unchanged at 6% of the outstanding stock of Central Government Securities.
• The overall quantitative limit for FPI investments in State Government Securities (SGSs) remains 2% of the outstanding stock.
• The existing sub-categories of investment limits, namely General and Long-Term, will be merged into a single investment limit for both Government Securities (G-Secs) and State Government Securities (SGSs).
• These measures are expected to help develop a smoother Government Securities Yield Curve and improve market liquidity.
• The reforms aim to attract long-term institutional investors such as Pension Funds, Insurance Companies, and Sovereign Wealth Funds (SWFs).
• The Government has also decided to exempt Foreign Portfolio Investors (FPIs) from Income Tax on Interest Income and Capital Gains arising from investments in Government Securities (G-Secs).
• The tax exemption on interest income and capital gains from Government Securities will be effective from 1 April 2026.
• The exemption will apply to any interest income or capital gains earned by FPIs on or after 01.04.2026 from investments in Government Securities.
• Similar income tax exemptions have also been extended to the Bank for International Settlements (BIS) for interest and capital gains earned from investments in Government Securities.
• The initiatives are expected to broaden the investor base for both Indian Equities and Government Securities (G-Secs).
• The reforms support India's objective of attracting greater global investment into one of the world's fastest-growing major economies.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Asian Development Bank and Standard Chartered Partner to Boost Supply Chain Finance in India Through Risk-Sharing Agreements

• Asian Development Bank (ADB) and Standard Chartered Bank signed agreements to strengthen Supply Chain Finance in India through risk-sharing arrangements.
• The partnership covers both United States Dollar (USD) and Indian Rupee (INR)
• The agreements were signed in Mumbai by Bhargav Dasgupta, Vice-President of ADB, and P. D. Singh, CEO of Standard Chartered Bank India & South Asia.
• The main objective of the partnership is to address financing gaps and strengthen risk-sharing mechanisms in India's supply chain finance ecosystem.
• The partnership includes a Risk Participation Arrangement (RPA) through GIFT City to support USD-denominated transactions.
• It also includes a Partial Guarantee Facility (PGF) agreement to facilitate onshore INR transactions.
• The RPA and PGF arrangements are designed to expand access to Trade Finance and Supply Chain Finance for businesses in India.
• The partnership will support the smooth flow of both Domestic Trade and Cross-Border Trade.

Recent News :

• In May 2026,The Asian Development Bank (ADB) launched a new financing facility titled “Critical Minerals-to-Manufacturing Financing Partnership Facility” to strengthen critical minerals supply chains across Asia and the Pacific region.

About Standard Chartered Bank :

• Standard Chartered Bank is a British multinational banking and financial services company headquartered in London.
• It was formed in 1969 through the merger of the Standard Bank of British South Africa and the Chartered Bank of India, Australia and China.

About ADB :

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

Organisation for Economic Co-operation and Development Revises India’s FY27 GDP Growth Projection Upward to 6.3%

• The Organisation for Economic Co-operation and Development (OECD) released its latest report titled “OECD Economic Outlook: Under Pressure – June 2026”.
• The OECD raised India’s GDP Growth Forecast for FY 2026-27 (FY27) by 20 basis points (bps) to 6.3%, up from its earlier estimate of 6.1% released in March 2026.
• India’s Gross Domestic Product (GDP) growth is projected at 7.6% in FY26.
• The report noted that higher energy prices are expected to influence India’s economic outlook.
• India’s GDP Growth Rate is projected to increase marginally to 6.4% in FY28.
• According to the OECD, India’s Inflation Rate is expected to rise from 2.1% in FY26 to 4.8% in FY27.
• The projected 4.8% inflation rate is lower than the OECD’s previous estimate of 5.1%.
• The increase in inflation is expected to be driven by higher food prices, higher energy prices, and currency weakness.
• The OECD projected that the Global Growth Rate will slow from 3.4% in Calendar Year 2025 (CY25) to 2.8% in Calendar Year 2026 (CY26).
• The organization retained its Global Growth Forecast for CY27 at 3.1%.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Agricultural and Processed Food Products Export Development Authority Facilitates India’s First Export of Botanical-Infused Millet Functional Foods to New Zealand

• The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated India’s first-ever export of botanical-infused ready-to-cook millet functional foods to New Zealand.
• The shipment was dispatched from Karnataka, marking a significant milestone in India's millet export journey.
• The consignment consisted of one metric tonne of value-added millet products exported by M/s Infini Agrotek LLP, Bengaluru.
• The export showcases the growing global demand for millet-based and value-added food products.
• Botanical-infused millet functional foods combine the nutritional benefits of millets with plant-based botanical ingredients to provide additional health benefits.
• These products align with global trends such as healthy eating, plant-based nutrition, functional foods, sustainable agriculture and natural ingredients.
• APEDA played a key role in facilitating market access and export promotion for the company.
• The exporter participated in several APEDA-supported international trade events, including World Food India 2025, Indus Food 2025, and Gulfood 2026,
• The export order from New Zealand was secured through networking and market outreach efforts at these international trade exhibitions.
• The initiative is expected to benefit millet farmers through higher demand, improved market access, better income opportunities, expansion of processing industries and increased rural employment.
• The development further strengthens India's position as a global supplier of innovative and value-added agricultural products.

About Agricultural and Processed Food Products Export Development Authority

• Established: 1986
• Parent Ministry: Ministry of Commerce and Industry,
• Headquarters: New Delhi,
• Chairman: Abhishek Dev

About New Zealand

• Capital: Wellington,
• Currency: New Zealand Dollar,
• Prime Minister: Christopher Luxon

Jai Prakash Narayan Bird Sanctuary Becomes India’s 100th Ramsar Site

• Jai Prakash Narayan Bird Sanctuary (Surha Tal) in Ballia district, Uttar Pradesh, has been designated as India’s 100th Ramsar Site.
• The announcement was made on World Environment Day 2026, marking a significant milestone in India’s wetland conservation efforts.
• With this recognition, the total number of Ramsar Sites in India has reached 100.
• The site was designated under the Ramsar Convention on Wetlands, an international treaty for the conservation and wise use of wetlands.
• The sanctuary, popularly known as Surha Tal, serves as an important habitat for numerous migratory and resident bird species.
• The wetland plays a crucial role in biodiversity conservation, ecological balance, water regulation and providing breeding and feeding grounds for birds.
• The inclusion of Surha Tal further strengthens India’s position among leading countries in wetland conservation.
• Recent additions to India's Ramsar List include Shekha Jheel Bird Sanctuary (99th Ramsar Site), Patna Bird Sanctuary, Chhari-Dhand, Siliserh Lake and Kopra Jalashay.

About Uttar Pradesh

• Capital: Lucknow,
• Chief Minister: Yogi Adityanath,
• Governor: Anandiben Patel

University of Liverpool Receives Approval to Establish Campus in Bengaluru

• The University of Liverpool, one of the United Kingdom’s leading universities, has received a Letter of Approval (LoA) from the Ministry of Education to establish its campus in Bengaluru, Karnataka.
• The approval marks another significant step in implementing the National Education Policy 2020, which promotes the internationalisation of higher education in India.
• The Letter of Approval was handed over by Dr. Vineet Joshi, Secretary, Department of Higher Education and Chairman of the University Grants Commission, to Professor Richard Grose, Provost of the University of Liverpool Bengaluru.
• The event was witnessed by Union Education Minister Dharmendra Pradhan, External Affairs Minister S. Jaishankar, and United Kingdom Foreign Secretary Yvette Coope.
• The campus is expected to improve access to global-quality education, enhance student mobility, strengthen international research collaboration, and boost academic competitiveness.
• The University of Liverpool had earlier received a Letter of Intent on 26 May 2025 under the University Grants Commission (Setting Up and Operation of Campuses of Foreign Higher Educational Institutions in India) Regulations, 2023.
• Before receiving the final approval, the university completed academic planning, infrastructure development, regulatory compliance requirements and operational readiness assessments.
• The establishment of the campus is expected to strengthen India–United Kingdom cooperation in education, research, innovation, technology and skill development.

About University Grants Commission

• Established: 1956
• Headquarters: New Delhi
• Chairman: Dr. Vineet Joshi
• Parent Ministry: Ministry of Education

Food Safety and Standards Authority of India Introduces Standardized Vegan Logo for Food Products

• The Food Safety and Standards Authority of India (FSSAI) has introduced a standardized vegan logo for approved vegan food products in India.
• The logo will become mandatory from 1 July 2027 for all approved vegan food products.
• The initiative aims to provide consumers with a clear and reliable method of identifying vegan foods.
• The requirement has been introduced under the amended Food Safety and Standards (Vegan Foods) Regulations.
• All approved vegan food packages must display the logo in the prescribed format.
• The logo has been designed as a green square-framed symbol featuring a stylized letter “V” and a sprouting leaf, representing sustainability and plant-based foods.
• The logo certifies that the product is free from animal-derived ingredients, additives and processing aids.
• The initiative seeks to improve consumer confidence, transparency and informed purchasing decisions.
• It will also help prevent misleading marketing claims and establish uniform standards for vegan food labelling across India.
• The amendment introducing the mandatory logo requirement was notified on 21 May 2026, giving food businesses time to update product packaging before implementation.
• The move aligns with global best practices in food labelling and consumer protection.

About Food Safety and Standards Authority of India

• Established: 2008
• Headquarters: New Delhi
• Chairperson: Punya Salila Srivastava
• Chief Executive Officer: G Rajit Punhani

RECENT NEWS

• In a major reform aimed at improving the ease of doing business in India, the Ministry of Health and Family Welfare has approved perpetual validity for registrations and licences issued by the Food Safety and Standards Authority of India (FSSAI). 

Prime Minister Narendra Modi Inaugurates First World Yogasana Championship 2026

• Prime Minister Narendra Modi inaugurated the First World Yogasana Championship 2026 in Ahmedabad, Gujarat through a video message.
• The championship is the first international event dedicated exclusively to Yogasana and aims to establish Yogasana as a competitive sport at the global level.
• Athletes from several countries are participating in the event, showcasing skills such as flexibility, balance, discipline, endurance and technical excellence.
• The event reflects India's efforts to promote yoga beyond wellness and fitness and position it as a recognized international sporting discipline.
• The championship is being held ahead of International Day of Yoga 2026, celebrated annually on 21 June.
• Prime Minister Narendra Modi described the championship and International Day of Yoga celebrations as a "double dose of health and wellness".
• The Prime Minister expressed confidence that Yogasana could eventually find a place in major international sporting events such as the Olympic Games, Asian Games and Commonwealth Games.
• Ahmedabad, India's first United Nations Educational, Scientific and Cultural Organization World Heritage City, was chosen as the host city for the inaugural championship.
• The main event of International Day of Yoga 2026 is scheduled to be held in Kolkata, West Bengal.
• The theme of International Day of Yoga 2026 is "Yoga for Healthy Ageing", emphasizing health, mobility and mental well-being throughout life.

About International Day of Yoga

• Observed On: 21 June every year.
• Theme (2026): "Yoga for Healthy Ageing".
• First Observed: 2015

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations General Assembly Elects Five New Non-Permanent Members to the UN Security Council

• The United Nations General Assembly elected Austria, Kyrgyzstan, Portugal, Trinidad and Tobago, and Zimbabwe as Non-Permanent Members of the United Nations Security Council (UNSC).
• The election was held at the United Nations Headquarters in New York, USA.
• The newly elected countries will serve a two-year term on the 15-member United Nations Security Council (UNSC).
• Their term will begin on 1 January 2027 and continue until 31 December 2028.
• Kyrgyzstan secured its first-ever term on the UNSC since becoming a member of the United Nations in 1992.
• The five newly elected countries will replace Denmark, Greece, Pakistan, Panama, and Somalia, whose terms end on 31 December 2026.
• A total of 7 countries contested the election for 5 non-permanent UNSC seats.
• The candidates were Germany, the Philippines, Austria, Portugal, Zimbabwe, Trinidad and Tobago, and Kyrgyzstan.
• The newly elected members will join the current non-permanent members Colombia, Bahrain, Democratic Republic of the Congo (DRC), Latvia, and Liberia.
• Colombia, Bahrain, DRC, Latvia, and Liberia will continue serving on the UNSC until 31 December 2027.
• The UNSC consists of 15 members, including 5 Permanent Members and 10 Non-Permanent Members.

CURRENT AFFAIRS : DEFENCE NEWS

Raksha Mantri Rajnath Singh Approves Doubling of Financial Powers for Field Commanders to Enhance Operational Efficiency

• Raksha Mantri Rajnath Singh released the revised Delegation of Financial Powers for the Defence Services on 4 June 2026.
• The Financial Powers have been enhanced by up to 100%, and in some cases by more than double.
• The revised powers aim to improve the operational efficiency of field commanders and ensure faster contract finalisation and project execution.
• Financial powers for Indigenisation and Research & Development (R&D) have been doubled to promote Aatmanirbharta in Defence.
• The move seeks to reduce dependence on Foreign Original Equipment Manufacturers (OEMs).
• The revised delegation will facilitate defence procurement worth more than ₹1.25 lakh crore through the revenue route.
• Special Financial Powers of Army, Air Force, and Naval Commanders have been significantly increased.
• The ceiling for meeting urgent operational requirements has been enhanced by 100%.
• New provisions have been introduced to promote Joint Service Procurement through the Lead Service Model.
• Several new Competent Financial Authorities (CFAs) have been introduced to decentralise procurement of Goods and Services.
• The previous Delegation of Financial Powers was last notified in 2021.
• The revision was necessitated by the expansion of force levels and increased expenditure on operations and sustenance.
• The reforms complement the Defence Procurement Manual 2025, notified in October 2025.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Neelkanth Mishra Appointed Executive Director at World Bank Headquarters by Appointments Committee of the Cabinet

• The Appointments Committee of the Cabinet (ACC) approved the appointment of Neelkanth Mishra as Executive Director at the World Bank Headquarters, Washington, D.C., USA.
• Neelkanth Mishra has been appointed for a tenure of three years from the date of assuming charge.
• He will succeed Parameswaran Iyer, a retired 1981-batch IAS officer of the Uttar Pradesh cadre.
• The ACC also approved the extension of Parameswaran Iyer’s tenure until Neelkanth Mishra assumed charge.

About Neelkanth Mishra :

• Neelkanth Mishra currently serves as Chief Economist at Axis Bank.
• He is also Head of Global Research and Whole-Time Director at Axis Capital.
• Before joining the Axis Group in 2023, he spent nearly two decades at Credit Suisse.
• At Credit Suisse, he served as Managing Director, India Strategist, and Co-Head of Equity Strategy for the Asia-Pacific Region.
• He is widely recognized as one of India’s leading economists and market strategists.
• Neelkanth Mishra has been ranked among the best analysts in India by Institutional Investor and AsiaMoney surveys.
• He is a Part-Time Member of the Economic Advisory Council to the Prime Minister.
• He also serves as Part-Time Chairperson of the Unique Identification Authority of India, the authority responsible for Aadhaar.
• He is a Part-Time Member of the Telecom Regulatory Authority of India.
• He has been associated with the 15th Finance Commission and the 16th Finance Commission.
• He has also contributed to the India Semiconductor Mission.
• He was a member of the Revenue Neutral Rate (RNR) Committee related to the Goods and Services Tax (GST).
• He also served on the Fiscal Responsibility and Budget Management (FRBM) Review Committee.
• Earlier in his career, he worked with Infosys Technologies as a Senior Technical Architect and with Hindustan Lever Limited.

D. K. Shivakumar Takes Oath as Karnataka’s 25th Chief Minister Following Siddaramaiah’s Resignation

• D. K. Shivakumar of the Indian National Congress (INC) was sworn in as the 25th Chief Minister of Karnataka after Siddaramaiah stepped down following directions from the Congress high command.
• The swearing-in ceremony was held at the Raj Bhavan, Bengaluru.
• Thawar Chand Gehlot administered the Oath of Office and Secrecy under Article 164 of the Constitution of India.
• D. K. Shivakumar represents the Kanakapura Assembly Constituency in Karnataka.
• G. Parameshwara was sworn in as the Deputy Chief Minister of Karnataka.
• Dr. G. Parameshwara previously held the Home Portfolio in the Siddaramaiah-led cabinet.
• Along with the Chief Minister and Deputy Chief Minister, 12 legislators were sworn in as Cabinet Ministers.
• Rudrappa Manappa Lamani was nominated to act as the Speaker of the Karnataka Legislative Assembly until a new Speaker is elected.
• K. Shivakumar was first elected to the Karnataka Legislative Assembly from Sathanur Constituency in 1989 at the age of 27.
• He retained the Sathanur seat in the 1994, 1999, and 2004 Assembly Elections.
• He shifted to the Kanakapura Constituency and won consecutive elections in 2008, 2013, 2018, and 2023.
• From 1990 to 1992, D.K. Shivakumar served as Minister of Prisons and Home Guards in the government led by S. Bangarappa.
• He became one of the youngest Cabinet Ministers in Karnataka during his tenure in the Bangarappa Government.

Mette Frederiksen Begins Third Straight Term as Denmark’s Prime Minister

• Mette Frederiksen secured a third consecutive term as Prime Minister (PM) of Denmark after forming a new centre-left coalition government following the March 2026 parliamentary elections.
• Mette Frederiksen is the leader of the Social Democrats, Denmark's major centre-left political party.
• Before entering politics, Mette Frederiksen worked as a trade unionist, gaining experience in labour and social welfare issues.
• She was elected to the Danish Parliament (Folketing) for the first time in 2001.
• She served as Minister of Employment in 2011 under Prime Minister Helle Thorning-Schmidt.
• In 2014, she became Minister of Justice in the government of Helle Thorning-Schmidt.
• After the Social Democrats lost the 2015 Danish General Election, Mette Frederiksen became the party leader and Leader of the Opposition.
• Following the 2019 Danish General Election, the Social Democrats emerged as the largest party, leading to her appointment as Prime Minister of Denmark in June 2019.
• She headed a Social Democrat-led minority government after assuming office in 2019.
• Mette Frederiksen was re-elected as Prime Minister in 2022.
• Following the March 2026 Parliamentary Elections, she successfully formed a new centre-left coalition government, securing her third consecutive term as Prime Minister.
• Mette Frederiksen is the second woman to serve as Prime Minister of Denmark.
• She succeeded Helle Thorning-Schmidt, who was the first woman Prime Minister of Denmark.
• Mette Frederiksen remains the youngest person ever to hold the office of Prime Minister of Denmark.

About Denmark :

• Capital : Copenhagen
• Currency : Danish krone

CURRENT AFFAIRS: AWARDS AND HONOURS

Mera Yuva Bharat Receives Guinness World Records Title for Online Quiz Participation

• Mera Yuva Bharat (MY Bharat) has been awarded a Guinness World Records title for the highest number of users completing an online quiz within one week.
• The record was achieved through the Viksit Bharat Young Leaders Dialogue (VBYLD) Quiz, a nationwide youth engagement initiative.
• 390,812 participants successfully completed the full quiz during the official assessment period, setting the new world record.
• The achievement was recognized under the category “Most Users to Take an Online Quiz in One Week”.
• The Guinness World Records certificate was presented at Shram Shakti Bhawan, New Delhi.
• The event was attended by Union Minister for Youth Affairs and Sports Dr. Mansukh Mandaviya, Minister of State Raksha Nikhil Khadse, senior ministry officials and representatives of Guinness World Records.
• The quiz was conducted through the MY Bharat portal to promote awareness about Viksit Bharat@2047, encourage youth participation in nation-building, and foster leadership and civic engagement.
• The initiative witnessed participation from more than 50.42 lakh young people across all 28 States and 8 Union Territories.
• More than 8.39 lakh quiz attempts were recorded during the one-week assessment period from 25 October 2025 to 31 October 2025.
• After independent digital forensic audits, evidence verification and technical scrutiny, 390,812 participants were certified as eligible by Guinness World Records.
• The achievement highlights one of India's largest digital youth engagement initiatives.

About Ministry of Youth Affairs and Sports

• Union Minister: Dr. Mansukh Mandaviya.
• Minister of State: Raksha Nikhil Khadse

Jammu and Kashmir Bank Wins Gold Award at Finacle Innovation Awards 2026

• Jammu and Kashmir Bank Limited won the Gold Award at the Finacle Innovation Awards 2026
• The bank received the award in the category “Modern Technologies-led Innovation – Data Insights and Analytics Platform”.
• The award was presented during the Finacle India Connect 2026 event organized by Infosys Finacle in Mumbai.
• The recognition highlights the bank’s adoption of Artificial Intelligence, Machine Learning and advanced data analytics to improve operational efficiency, customer experience and decision-making.
• The award was received by Managing Director and Chief Executive Officer Amitava Chatterjee and General Manager (Strategy and Information Technology/Chief Information Officer) Mohammad Muzaffar Wani.
• The bank’s Data Insights and Analytics Platform integrates Business Intelligence, Advanced Analytics, Reporting Systems, Artificial Intelligence applications and Machine Learning models.
• The platform enables the bank to process large volumes of data and generate actionable insights for strategic and operational decision-making.
• Key applications of the platform include customer analytics, risk management, business forecasting, customer retention, operational efficiency enhancement and performance monitoring.
• The Finacle Innovation Awards 2026 received nearly 500 nominations from financial institutions, recognizing excellence in technology-driven banking transformation and innovation.

About Jammu and Kashmir Bank Limited

• Headquarters: Srinagar, Jammu and Kashmir.
• Managing Director and Chief Executive Officer: Amitava Chatterjee.
• Established: 1 October 1938
• Tagline: Serving to Empower

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and United Kingdom Launch Critical Minerals Global Supply Chain Observatory

• India and the United Kingdom jointly launched the India–United Kingdom Critical Minerals Global Supply Chain Observatory (GSCO) in New Delhi.
• The initiative was launched by Union Minister of Coal and Mines G. Kishan Reddy and United Kingdom Foreign Secretary Yvette Cooper.
• The observatory aims to strengthen cooperation between the two countries in the field of critical minerals, which are essential for clean energy technologies and advanced manufacturing.
• The initiative reflects the growing strategic partnership between India and the United Kingdom in ensuring secure and resilient critical mineral supply chains.
• Critical minerals play a vital role in electric vehicle batteries, renewable energy systems, semiconductor manufacturing, defence technologies, advanced electronics and telecommunications infrastructure.
• The Global Supply Chain Observatory is a collaborative platform designed to monitor and analyse global critical mineral supply chains through data-driven research and intelligence.
• The observatory will help identify supply chain disruptions, market risks, resource availability trends, geopolitical vulnerabilities and emerging opportunities.
• The platform aims to support evidence-based decision-making by providing timely information to governments, industries and research institutions.
• The initiative has been developed through collaboration among Technology Innovation Hub on Mining (TEXMiN), Indian Institute of Technology (Indian School of Mines), Dhanbad, and the University of Cambridge.
• The observatory aligns with India's National Critical Mineral Mission, which focuses on strengthening access to minerals critical for future technologies and energy security.
• The initiative is expected to support critical mineral intelligence, policy planning, supply chain diversification, strategic resource management and long-term mineral security.

About United Kingdom

• Capital: London.
• Currency: Pound Sterling.
• Prime Minister: Keir Starmer.
• Foreign Secretary: Yvette Cooper.

West Bengal Legislative Assembly Joins National e-Vidhan Application Initiative

• The West Bengal Legislative Assembly has signed a Memorandum of Understanding (MoU) for the implementation of the National e-Vidhan Application (NeVA).
• With this, West Bengal has become the 33rd Legislature in India to join the NeVA initiative.
• The tripartite MoU was signed in the presence of Union Minister of Parliamentary Affairs Kiren Rijiju, Minister of State Arjun Ram Meghwal, Minister of State L. Murugan, and the Speaker of the West Bengal Legislative Assembly.
• NeVA is a Mission Mode Project of the Ministry of Parliamentary Affairs aimed at digitising and modernising the functioning of Parliament and State Legislatures through a common digital platform.
• The initiative supports the vision of "One Nation – One Application" and promotes paperless, transparent, efficient and citizen-centric legislative governance.
• According to the Ministry of Parliamentary Affairs, 21 Legislatures have already transitioned to fully digital functioning through the NeVA platform.
• The platform provides digital management of questions and answers, bills, notices, assurances, committee proceedings, list of business, bulletins, legislative records and House proceedings.
• NeVA enables Members of Legislative Assemblies and Legislative Councils to access legislative information anytime and anywhere.
• The platform also creates a permanent digital repository of legislative records and supports the objectives of the Digital India initiative.
• Key benefits include paperless functioning, greater transparency, faster access to information, improved record management, enhanced productivity, better citizen engagement and reduced administrative costs.

About Ministry of Parliamentary Affairs

• Union Minister: Kiren Rijiju
• Ministers of State: Arjun Ram Meghwal and L. Murugan

About West Bengal

• Capital: Kolkata
• Chief Minister: Suvendu Adhikari
• Governor: R. N. Ravi

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Fidelity Acquires 1.85% Stake in GMR Airports from GQG Partners in ₹1,906 Crore Deal

• GQG Partners, a US-based investment firm, sold a 1.85% stake in GMR Airports Limited (GAL) through Open Market Operations (OMOs).
• The total value of the transaction was approximately ₹1,906 crore.
• The stake sale was executed through GQG Partners Emerging Markets Equity Fund, an affiliate of GQG Partners.
• Under the deal, 19.50 crore equity shares of GMR Airports Limited (GAL) were sold.
• The shares represented 1.85% ownership in GMR Airports Limited.
• The transaction was carried out at an average price of ₹97.75 per share.
• The buyer in the transaction was Fidelity International Limited (FIL).
• The stake was acquired through Fidelity Investment Trust – Fidelity International Small Cap Fund, an affiliate of Fidelity International.
• The transaction was completed through block deals/open market transactions on the National Stock Exchange (NSE).
• Rajiv Jain-backed GQG Partners reduced its holding in GMR Airports Limited through this stake sale.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Dr Jitendra Singh Launches ANRF Portal for Patent Filing and Research Writing Support, Reviews Scientific Departments’ Progress

• Dr. Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, announced an ANRF-supported digital portal for researchers, students, and innovators across India.
• The newly launched portal will provide training in patent filing support and research paper writing assistance.
• The initiative aims to strengthen India’s research ecosystem by improving access to scientific writing, publication processes, and intellectual property resources.
• The announcement was made during a Joint Review Meeting of the Department of Science & Technology (DST), Department of Biotechnology (DBT), Department of Scientific and Industrial Research (DSIR), and Ministry of Earth Sciences (MoES).

Key Highlights :

• The portal will serve as a capacity-building resource for researchers and young innovators across the country.
• The platform will provide structured support in scientific writing, publication processes, intellectual property (IP) protection, and patent-related procedures.
• The initiative is expected to improve the quality of research output, enhance innovation outcomes, and facilitate the conversion of scientific work into publications and patents.
• Rajesh S. Gokhale, Secretary of DBT, and Dr. Shivkumar Kalyanaraman, CEO of the Anusandhan National Research Foundation (ANRF), also participated in the meeting.
• ANRF (Anusandhan National Research Foundation) is supporting the newly announced digital portal.
• The initiative aims to promote cross-learning, institutional collaboration, and wider dissemination of scientific advancements.
• The review also covered departmental performance indicators such as file disposal, grievance redressal, litigation management, and expenditure monitoring.
• He recommended wider participation of scientific institutions, startups, industry representatives, students, and young innovators in ESTIC 2026.
• The Minister also encouraged stronger engagement with international experts and global thought leaders during the event.
• Discussions during the meeting covered ANRF initiatives, outreach programmes, institutional communication strategies, and the progress of various scientific programmes.
• The meeting concluded with a commitment to strengthen inter-departmental cooperation, enhance institutional capacities, and increase the societal impact of scientific research and innovation.

Technology Development Board Extends Support to Bioneemtec India for Commercialization of Green Chemistry-Based Pharmaceutical Manufacturing Technologies

• The Technology Development Board (TDB) under the Department of Science & Technology (DST) has extended support to Bioneemtec India Private Limited, Chennai for a project aimed at strengthening India's pharmaceutical manufacturing capabilities.
• The project is titled “Manufacturing of Minoxidil, Tranexamic Acid, Dequalinium Chloride, their Intermediates and Drug Liposomes.”
• The initiative focuses on commercializing indigenous green chemistry technologies for the production of critical pharmaceutical ingredients and advanced drug delivery systems.
• The project supports national objectives such as Import Substitution, Sustainable Manufacturing, and Healthcare Security.
• The project aims to establish advanced manufacturing capabilities for Pharmaceutical Intermediates, Active Pharmaceutical Ingredients (APIs), and Novel Drug Delivery Systems.
• The manufacturing process will utilize Batch Chemistry and Continuous-Flow Chemistry Technologies to improve efficiency and sustainability.
• The initiative is designed to enhance production efficiency, product quality, operational safety, and environmental sustainability.
• A major focus of the project is the commercialization of an indigenous process for manufacturing Tranexamic Acid.
• Tranexamic Acid is an important therapeutic molecule used in the treatment and management of Bleeding Disorders.
• The indigenous manufacturing process for Tranexamic Acid is based on a cost-effective and environmentally responsible synthesis route.
• The project will also support domestic production of Minoxidil and Dequalinium Chloride, along with their key intermediates.
• The project will strengthen India's Pharmaceutical Value Chain and promote self-reliance in critical drug ingredients.
• Bioneemtec India Private Limited has developed proprietary Drug Liposome APIs based on advanced Nanotechnology Platforms.
• These Liposomal Formulations are being developed for therapeutic applications in Breast Cancer and Skin Cancer Management.
• The liposomal technologies have demonstrated promising results through controlled nanoparticle characteristics and advanced drug delivery mechanisms.
• The company has initiated Intellectual Property (IP) Protection for its proprietary liposome technology.
• The project lays the foundation for future Targeted Drug Delivery Solutions and next-generation pharmaceutical innovations.
• Support from TDB will accelerate the commercialization of Green Chemistry-Based Manufacturing Technologies and advanced pharmaceutical products.

Recent News :

• In May 2026, The Technology Development Board (TDB) under the Department of Science and Technology (DST), Government of India, signed an agreement with IDT Innovation Technologies Private. Limited., Nagpur.

Technology Hub Launches Third ORBIT Space-Tech Accelerator Cohort with 13 Startups

• Startup incubator Technology Hub(T-Hub) launched the 3rd Cohort of ORBIT, the Atal Innovation Mission (AIM)-supported Atal Innovation Incubation Centre (AIC)-T-Hub Space-Tech Accelerator Programme.
• The 3rd Cohort of ORBIT inducted 13 Space-Tech Startups focused on developing innovative solutions for the Space Sector.
• With the launch of Cohort 3, ORBIT has supported a total of 36 Space-Tech Startups.
• Through its broader Space-Tech Initiatives, T-Hub has engaged with more than 100 Startups.
• The selected startups are working in advanced space domains such as Propulsion Systems, Orbital Servicing, Satellite Intelligence, Sovereign Compute, Space Energy Systems, Satellite Connectivity, and Downstream Geospatial Technologies.
• The 13 selected startups are Sanyak Space Technologies, Trishul Space, Kessler Dynamics, Velotrax, Zoove Space, Space OS, Humanity Space, Landlens, STAR Labs, Red Balloon Aerospace, Astro Voltaics, Orbit Grid, and Nibiaa Devices.
• The startups will receive specialized Mentorship, Masterclasses, and Industry Programmes.
• Guidance will be provided by Industry Experts, Investors, and former leaders of the Indian Space Research Organisation (ISRO).
• Previous ORBIT Cohorts have collectively raised nearly ₹30 Crore in funding.
• The earlier cohorts have also contributed to 18 Published Intellectual Properties (IPs).

CURRENT AFFAIRS: SPORTS NEWS

Indian-Origin Footballers Set to Feature in Fédération Internationale de Football Association World Cup 2026

• India failed to qualify for the FIFA World Cup 2026, finishing third in Group A during the second round of the Asian qualifiers behind Qatar and Kuwait.
• The 2026 edition marks the first FIFA World Cup to feature 48 teams, expanded from 32 teams.
• Although India will not participate, several footballers of Indian origin are set to represent their respective nations at the tournament, highlighting the growing influence of the Indian diaspora in international football.
• Sarpreet Singh is expected to represent New Zealand. Born in Wellington, his parents trace their roots to Jalandhar, Punjab. He previously played for FC Bayern Munich.
• Tahsin Mohammed Jamshid is expected to represent Qatar. Born in Doha, his family originates from Kannur, Kerala.
• Nishan Velupillay is expected to represent Australia. He has Sri Lankan Tamil and Anglo-Indian heritage and emerged through the youth system of Melbourne Victory FC.
• Samuel Moutoussamy is expected to represent Democratic Republic of the Congo. His Indo-Guadeloupean family traces its ancestry to the Tamil community.
• The FIFA World Cup has previously featured players of Indian ancestry, including Vikash Dhorasoo, who represented France at the 2006 FIFA World Cup, where France finished runners-up.
• India had qualified for the 1950 FIFA World Cup, but did not participate in the tournament.

About Fédération Internationale de Football Association

• Established: 1904
• Headquarters: Zurich, Switzerland
• President: Gianni Infantino

Daily CA One- Liner: June 6^th

• The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated India’s first-ever export of botanical-infused ready-to-cook millet functional foods to New Zealand.
• Jai Prakash Narayan Bird Sanctuary (Surha Tal) in Ballia district, Uttar Pradesh, has been designated as India’s 100th Ramsar Site.
• The University of Liverpool, one of the United Kingdom’s leading universities, has received a Letter of Approval (LoA) from the Ministry of Education to establish its campus in Bengaluru, Karnataka.
• The Food Safety and Standards Authority of India (FSSAI) has introduced a standardized vegan logo for approved vegan food products in India.
• Prime Minister Narendra Modi inaugurated the First World Yogasana Championship 2026 in Ahmedabad, Gujarat through a video message.
• Mera Yuva Bharat (MY Bharat) has been awarded a Guinness World Records title for the highest number of users completing an online quiz within one week.
• Jammu and Kashmir Bank Limited won the Gold Award at the Finacle Innovation Awards 2026.
• India and the United Kingdom jointly launched the India–United Kingdom Critical Minerals Global Supply Chain Observatory (GSCO) in New Delhi.

• The West Bengal Legislative Assembly has signed a Memorandum of Understanding (MoU) for the implementation of the National e-Vidhan Application (NeVA).
• India failed to qualify for the FIFA World Cup 2026, finishing third in Group A during the second round of the Asian qualifiers behind Qatar and Kuwait.

• The Ministry of Finance (MoF) announced a series of reforms to strengthen India's position as a global investment destination, deepen capital markets, and attract stable long-term foreign capital flows.
• Asian Development Bank (ADB) and Standard Chartered Bank signed agreements to strengthen Supply Chain Finance in India through risk-sharing arrangements.
• The Organisation for Economic Co-operation and Development (OECD) released its latest report titled “OECD Economic Outlook: Under Pressure – June 2026”.
• The United Nations General Assembly elected Austria, Kyrgyzstan, Portugal, Trinidad and Tobago, and Zimbabwe as Non-Permanent Members of the United Nations Security Council (UNSC).
• Raksha Mantri Rajnath Singh released the revised Delegation of Financial Powers for the Defence Services on 4 June 2026.
• The Appointments Committee of the Cabinet (ACC) approved the appointment of Neelkanth Mishra as Executive Director at the World Bank Headquarters, Washington, D.C., USA.
• K. Shivakumar of the Indian National Congress (INC) was sworn in as the 25th Chief Minister of Karnataka after Siddaramaiah stepped down following directions from the Congress high command.
• Mette Frederiksen secured a third consecutive term as Prime Minister (PM) of Denmark after forming a new centre-left coalition government following the March 2026 parliamentary elections.
• GQG Partners, a US-based investment firm, sold a 1.85% stake in GMR Airports Limited (GAL) through Open Market Operations (OMOs).
• Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences, announced an ANRF-supported digital portal for researchers, students, and innovators across India.
• The Technology Development Board (TDB) under the Department of Science & Technology (DST) has extended support to Bioneemtec India Private Limited, Chennai for a project aimed at strengthening India's pharmaceutical manufacturing capabilities.
• Startup incubator Technology Hub(T-Hub) launched the 3rd Cohort of ORBIT, the Atal Innovation Mission (AIM)-supported Atal Innovation Incubation Centre (AIC)-T-Hub Space-Tech Accelerator Programme.