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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Bars US-Based Proprietary Trading Firm Jane Street and Affiliates from Indian Securities Markets

• The Securities and Exchange Board of India (SEBI) has barred United States (US)-based proprietary trading firm Jane Street and its affiliates from participating in Indian securities markets.
• The ban is due to alleged manipulation in index derivatives, specifically in Bank Nifty options.
• SEBI has ordered the impounding of ₹4,844 crore in unlawful gains, to be held in an escrow account.
• The interim order, following a detailed investigation, found that Jane Street conducted aggressive, strategically timed trades in Bank Nifty component stocks and futures on expiry days.
• These trades were allegedly designed to manipulate expiry prices and benefit from large positions in index options, violating SEBI’s PFUTP (Prohibition of Fraudulent and Unfair Trade Practices) regulations.
• Jane Street earned ₹36,502 crore in net profits between January 2023 and March 2025, of which ₹4,844 crore were deemed unlawful.
• SEBI has frozen debit transactions in Jane Street’s bank accounts.
• The regulator has also barred Jane Street’s India-linked entities — including JSI Investments and Jane Street Singapore — from trading in any securities until further notice.

Recent News :

• In May 2025, SEBImandates a minimum ticket size of ₹1 crore for securitised debt instruments (SDIs) for both RBI-regulated and unregulated originators involved in securitisation activities.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Colombia and Uzbekistan Become New Members of New Development Bank Ahead of 17th BRICS Summit

• Colombia and Uzbekistan have officially joined the New Development Bank (NDB), expanding the membership of the multilateral lender known as the BRICS Bank.
• The announcement was made following the 10th meeting of the NDB's Board of Directors, ahead of the 17th BRICS Summit.
• With the addition of Colombia and Uzbekistan, the NDB's total membership has increased to 11 countries.
• Current members include:Brazil, Russia, India, China, South Africa (founding members)
• Bangladesh, United Arab Emirates, Egypt, Algeria, Colombia, and Uzbekistan.
• The NDB was established in 2015 by the BRICS nations to mobilize resources for infrastructure and sustainable development projects in BRICS and other emerging market economies and developing countries.
• The bank is headquartered in Shanghai, China.
• The NDB has an initial authorised capital of USD 100 billion, divided into one million shares with a par value of USD 100,000 each.
• Each founding BRICS country subscribed to 100,000 shares, totaling USD 10 billion each, which represents 18.98% of total subscribed capital per country.
• Among non-BRICS members, Egypt holds 2.27%, Bangladesh 1.79%, and United Arab Emirates 1.06% of the subscribed capital.

Three Public Sector Units Own 23% Stake in NSE Worth Over ₹1.3 Lakh Crore at ₹2,325 Share Price

• Three Public Sector Units (PSUs) hold a combined 23% stake in the National Stock Exchange (NSE), valued at over ₹1.3 lakh crore based on a share price of ₹2,325.
• The PSUs include: LIC (10.7% stake, ₹61,525 crore), Stock Holding Corporation of India (SHCIL) (4.4%, ₹25,300 crore), SBI (3.23%) and SBI Caps (4.33%) with a combined SBI value of approx. ₹43,470 crore.
• NSE’s current market capitalization stands at ₹5.75 lakh crore.
• NSE is the world’s largest exchange by derivative contracts traded and the seventh largest globally by market cap of listed firms (as of May 31, 2025).
• SEBI Chairman Tuhin Kanta Pandey confirmed the NSE IPO process is on track, with most paperwork completed.
• NSE has offered ₹1,388 crore as a settlement fee to SEBI, which, if accepted, will be SEBI’s largest-ever settlement.
• Acceptance of the settlement will clear the way for SEBI to issue a No-Objection Certificate (NOC), allowing NSE to file its Draft Red Herring Prospectus (DRHP) and proceed with its long-awaited IPO.

All Indian Post Offices to Accept UPI Digital Payments at Counters by August 2025: Department of Posts

• The Department of Posts will enable all Indian post offices to accept digital payments via UPI at their counters by August 2025.
• This initiative is part of IT 2.0, a major overhaul of IT infrastructure incorporating dynamic QR code-based payment systems for faster, safer, and easier postal transactions.
• The Department of Posts has played a key role in financial inclusion through products like India Post Payments Bank (IPPB) but previously lacked digital payment acceptance at counters, limiting convenience for over 500 million consumers.
• A pilot rollout has started in the Karnataka postal circle, with successful QR-based bookings at Mysore Head Office, Bagalkot Head Office, and subordinate branches.

Finance Ministry extends deadline for choosing Unified Pension Scheme and National Pension System to September 30, 2025 from June 30, 2025  

• The Finance Ministry has extended the deadline to choose between Unified Pension Scheme (UPS) and National Pension System (NPS) to September 30, 2025, from the earlier deadline of June 30, 2025.
• The extension provides more time for central government employees to decide whether to switch to UPS or stay with NPS.
• The Unified Pension Scheme (UPS) was launched on April 1, 2025, as an alternative to NPS.
• UPS offers an assured pension payout and a lump sum payout on retirement, unlike NPS which does not guarantee assured pension payouts.
• Recently, gratuity benefits have also been extended to government employees opting for UPS.
• If the government fails to provide an option to switch to UPS, it will be assumed the employee has opted for NPS without the UPS option.

Eligibility to Choose Between NPS and UPS:

• Existing central government employees in service as of April 1, 2025.
• Central government employees who retired on or before March 31, 2025, provided:
• They served a minimum of 10 years before superannuation.
• Retired under Fundamental Rules 56(j) (not considered a penalty under Central Civil Services rules).
• The legally wedded spouse of a deceased UPS subscriber is also eligible.
• Contributions under UPS:Upon opting for UPS, the employee’s pension corpus transfers to PRAN linked to UPS.
• The government contributes 18.5% of the employee’s basic salary to the pension fund.
• The employee contributes 10% of their basic salary to the pension fund.

Gujarat Becomes India’s Third State to Surpass 1 Crore Stock Market Investors: NSE                              

• Gujarat has become the third state in India to record over 1 crore registered stock market investors, according to the National Stock Exchange (NSE)
• Gujarat has joined Maharashtra and Uttar Pradesh in crossing the one-crore investor
• Together, these three states account for 36% of the total stock market investor base in India.
• As of May 2025, India has nearly 11.5 crore registered investors.
• Region-wise investor distribution:
• North India leads with 4.2 crore investors.
• West India has 3.5 crore investors.
• South India has 2.4 crore investors.
• East India accounts for 1.4 crore investors.
• Investor growth in the last one year:
• North India: 24% increase.
• East India: 23% increase.
• South India: 22% increase.
• West India: 17% increase.
• India crossed the 9 crore investor mark in February 2024, and then added 1 crore every 5-6 months, reaching:
• 10 crore by August 2024.
• 11 crore by January 2025.
• However, from February to May 2025, the growth rate slowed down, with an average of 10.8 lakh new investors per month, compared to 19.3 lakh per month in the calendar year 2024.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Rajasthan Launches Pandit Deendayal Upadhyay Poverty-Free Village Scheme

• Rajasthan government launched the Pandit Deendayal Upadhyay Poverty-Free Village Scheme, aiming to eliminate poverty in 5,000 villages.
• The initiative focuses on financial aid and employment support to make rural families self-reliant and economically empowered.

Key Highlights:

• Financial Support to BPL Families: Selected families living below the poverty line (BPL) will receive up to ₹1 lakh to start small businesses or income-generating work.
• Assistance for SHG Women: Women in self-help groups (SHGs) will get ₹15,000 per family to enhance their income activities.
• Incentive for Families Above Poverty Line: Families that have moved above the poverty line through their own efforts will be awarded ₹21,000, directly transferred to their verified bank accounts. So far, 17,891 out of 22,400 accounts have been verified.
• ‘Atmanirbhar Parivar Cards’ Issued: These cards will be provided to families that have become self-reliant, recognizing their economic progress.

RECENT NEWS

• Rajasthan is set to join Madhya Pradesh in establishing the country’s first inter-state cheetah conservation corridor, spanning 17,000 square kilometers. The project will connect Palpur Kuno National Park and Gandhi Sagar Sanctuary in Madhya Pradesh with the Mukundara Hills Tiger Reserve in Rajasthan, creating a contiguous and protected landscape for cheetahs to thrive.

Prime Minister Narendra Modi Participates in 17th BRICS Summit in Brazil Focused on Global Governance and AI

• Prime Minister Narendra Modi attended the 17th BRICS Summit held in Rio de Janeiro, Brazil, from 6–7 July 2025.
• The summit emphasized reforms in global institutions, peace and security, support for the Global South, and the responsible development of Artificial Intelligence (AI).

Key Highlights:

• Call for Reform in Global Institutions: PM Modi urged the restructuring of outdated institutions like the UN Security Council, IMF, World Bank, and WTO, stating they must reflect 21st-century realities. He welcomed BRICS’ support for UN reforms in the Summit Declaration.
• Strong Stand Against Terrorism: Modi condemned terrorism, referencing the April 2025 Pahalgam attack, calling it an attack on humanity. He demanded zero tolerance and no double standards, and thanked BRICS nations for condemning the incident.
• Support for Dialogue in Global Conflicts: Addressing wars in West Asia and Europe, Modi advocated for dialogue and diplomacy, reaffirming India’s commitment to global peace efforts.
• Strengthening BRICS and Promoting AI: In the session on economic and tech cooperation, Modi proposed four key suggestions:
  • The BRICS New Development Bank should focus on country-specific, long-term projects.
  • Establish a Science and Research Repository to aid Global South nations.
  • Secure critical mineral supply chains to reduce dependence and risk.
  • Promote Responsible AI, balancing innovation and governance.
• Rio Declaration Adopted: BRICS nations signed the Rio de Janeiro Declaration, committing to global institutional reforms, peacebuilding, technological advancement, and economic-financial development.

RECENT NEWS

• India actively participated in the 9th BRICS Industry Ministers’ Meeting held in Brasília, Brazil, on 21st May 2025, under the theme “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance.” The event highlighted India’s leadership in promoting innovation, startup collaboration, and digital industrial transformation among BRICS nations.

India Launches First National Biobank at CSIR-IGIB for Advanced Health Research

• Union Minister Jitendra Singh inaugurated India’s first National Biobank at the CSIR-Institute of Genomics and Integrative Biology (IGIB), New Delhi.
• The biobank, established under the Phenome India project, aims to transform healthcare by enabling personalized and precision medicine using India’s own health and genetic data.

Key Highlights:

• Biobank to Store Diverse Data: The facility will collect and store health, genetic, and lifestyle data from 10,000 individuals across India, designed to reflect the country’s diverse population.
• Inspired by UK Biobank: While modeled on the UK Biobank, this initiative is customized for Indian health needs, helping address diseases like cancer, diabetes, heart ailments, and rare genetic conditions.
• Dr. Jitendra Singh emphasized that personalized treatment based on genetic and lifestyle factors will become a realistic healthcare model in India soon.
• Addressing India-Specific Health Risks: The Biobank will help decode hidden health risks such as central obesity, which is common in Indians but often goes unnoticed.
• CRISPR and Genomic Innovation: The Minister praised India’s progress in CRISPR-based genome editing, especially for sickle cell anaemia and liver fibrosis, and reaffirmed India's growing leadership in quantum tech, AI, and genomic medicine.
• Call for Collaboration: Dr. Singh urged for strong partnerships between scientists, government, and industry to convert research into practical healthcare solutions for India.

RECENT NEWS

• In a groundbreaking initiative toward sustainable innovation and circular economy, the CSIR-National Institute for Interdisciplinary Science and Technology (CSIR-NIIST) and the North East Centre for Technology Application and Reach (NECTAR) have signed an MoU to set up vegan leather manufacturing units in Meghalaya and other northeastern states.

Himachal Pradesh Becomes First State to Use Aadhaar-Based Face Authentication for Ration Distribution

• In a major digital governance initiative, Himachal Pradesh has become the first Indian state to implement Aadhaar-linked face recognition (FaceAuth) for ration delivery under the Public Distribution System (PDS).
• This new identity verification method started in July 2025 to improve access and reliability of ration services, especially in remote areas.

Key Highlights:

• First State to Launch FaceAuth for PDS: Himachal Pradesh is the first in India to adopt face authentication linked to Aadhaar for ration distribution, replacing older systems like fingerprints and OTPs.
• Technology Implementation: The FaceAuth system uses a smartphone camera on the Fair Price Shop (FPS) dealer’s mobile app to scan and match the beneficiary’s face with Aadhaar records.
• Reason for Transition:
  • OTP failures were common due to poor mobile network coverage, particularly in hilly regions.
  • Fingerprint mismatches occurred due to worn-out fingerprints or UIDAI system errors.
• Developed by State’s DDTG: The new system was developed by the Department of Digital Technologies and Governance (DDTG) of Himachal Pradesh to ensure a faster, easier, and more reliable PDS experience.

RECENT NEWS

• In a significant step towards supporting Himachal Pradesh’s post-disaster recovery efforts, the central government has approved ₹2,006.40 crore for reconstruction and rehabilitation in the wake of devastating floods, landslides, and cloudbursts during the 2023 monsoon.

India Ranked 4th Most Equal Country in the World-by-World Bank in 2025

• India has been ranked as the fourth most income-equal country globally in the World Bank’s 2025 report, with a Gini Index score of 25.5.
• This reflects a significant achievement in promoting income equality in a nation as large and diverse as India, and highlights the effectiveness of various poverty reduction initiatives undertaken by the government.

Key Highlights:

• Gini Index Explained: The Gini Index measures income distribution, where 0 indicates perfect equality and 100 total inequality. India’s score of 25.5 places it just behind Slovak Republic (24.1), Slovenia (24.3), and Belarus (24.4).
• Better Than Major Economies: India ranks ahead of China (35.7), the United States (41.8), and all G7 and G20 nations. In 2011, India’s score was 28.8, showing steady improvement over a decade.
• Global Coverage: The World Bank’s July 2025 report includes data from 167 countries, confirming India’s position among the most equal globally.
• Drop in Extreme Poverty: According to the Spring 2025 Poverty and Equity Brief, the percentage of people in extreme poverty dropped from 16.2% (2011–12) to 2.3% (2022–23)—a reduction of 171 million people.
• Low Poverty Under $3 Benchmark: Using the updated global poverty line of $3/day, India’s poverty rate in 2022–23 stands at 5.3%, reflecting broad-based improvement.

Key Government Schemes That Contributed:

• PM Jan Dhan Yojana: Enabled 55.69 crore bank accounts, facilitating direct benefit transfers.
• Aadhaar & DBT: With 142 crore Aadhaar cards issued, ₹3.48 lakh crore saved through targeted DBT.
• Ayushman Bharat: Provided 41.34 crore health cards, covering free treatment up to ₹5 lakh/family/year, including special coverage for those aged 70+.
• Stand-Up India: Disbursed ₹62,807 crore in loans to SC/ST and women entrepreneurs.
• PM Vishwakarma Yojana: Supported 29.95 lakh artisans with tools, training, and credit assistance.
• PMGKAY: Ensured free food grain distribution to 80.67 crore people, including during COVID-19, ensuring food security.

India Becomes World’s 4th Largest Biofuel User in 2024, Surpassing China

• India has overtaken China to become the world’s fourth-largest biofuel consumer in 2024, according to the Statistical Review of World Energy 2025.
• This marks the second consecutive year that India has stayed ahead of China in biofuel usage, reflecting the country’s strong shift towards cleaner energy sources.

Key Highlights:

• Significant Growth in Biofuel Use: India consumed 77 thousand barrels of oil equivalent per day (kbbloe/d) in 2024, marking a 40% increase from the previous year. In comparison, China used 60 kbbloe/d, with an 18% rise.
• Strong Decadal Growth: India’s biofuel consumption has increased at an average annual rate of 31.8% from 2014 to 2024, demonstrating a decade-long commitment to renewable fuels.
• Definition and Types: Biofuels include ethanol, biodiesel, and sustainable aviation fuels (SAFs)—clean fuels derived from natural sources like crops, aimed at reducing pollution and carbon emissions.
• Lag in Domestic Production: Despite higher consumption, India produced only 70 kbbloe/d of biofuel in 2024, while China produced 106 kbbloe/d. India’s production rose 27% in 2024, with a 10-year growth rate of 30.4%, but still trails China’s 2024 production surge of 31%.
• Global Biofuel Demand Hits Record: Worldwide, biofuel demand reached 2.2 million barrels/day in 2024. The Asia-Pacific region led with a 47 kbbloe/d increase, followed by North America (42 kbbloe/d).

Top Global Biofuel Consumers: The leading biofuel consumers are:

1. United States – 856 kbbloe/d
2. Brazil
3. Indonesia
4. India
5. China

CURRENT AFFAIRS: AWARDS AND HONOURS

Prime Minister Narendra Modi Honoured with ‘Key to the City of Buenos Aires’ During Historic Argentina Visit

• Prime Minister Narendra Modi received the ‘Key to the City of Buenos Aires’, marking a symbolic gesture of trust and friendship during his official two-day visit to Argentina—the first by an Indian PM in 57 years.
• The recognition highlights his efforts to strengthen India–Argentina relations.

Key Highlights:

• Ceremonial Honour: The ‘Key to the City’ was presented by Jorge Macri, Chief of the City Government of Buenos Aires, acknowledging PM Modi’s role in boosting bilateral ties.
• Tributes to Icons: PM Modi paid tribute to Mahatma Gandhi and Rabindranath Tagore by visiting their statues in Buenos Aires and honoured General Jose de San Martin, Argentina’s national hero, at Plaza San Martin.
• Bilateral Talks with President Milei:
  • Celebrated 75 years of diplomatic relations.
  • Agreed to enhance cooperation in defence, energy, agriculture, mining, and trade.
  • Argentina to supply lithium and shale gas to support India’s energy needs.
  • PM Modi urged for easier access for Indian medicines into Argentina.
  • Discussed collaboration in sports and education, and invited President Javier Milei to visit India.

Deepika Padukone Becomes First Indian Actress to Receive Hollywood Walk of Fame Star

• In a landmark moment for Indian cinema, Deepika Padukone has been selected to receive a star on the Hollywood Walk of Fame, making her the first Indian actress to be honoured with this prestigious international recognition.
• The announcement was made, in Hollywood.

Key Highlights:

• Historic Recognition: Deepika Padukone becomes the first Indian actress to receive a Hollywood Walk of Fame star, showcasing the growing influence of Indian talent on the global stage.
• Class of 2026 Honourees: She is among the 35 personalities chosen for the Walk of Fame Class of 2026, which includes Miley Cyrus, Timothee Chalamet, Emily Blunt, Rachel McAdams, Gordon Ramsay, and Marion Cotillard.
• Statement from Selection Committee: Peter Roth, Chairman of the selection committee, stated that the chosen individuals have made significant contributions to global entertainment.
• Hollywood Debut in 2017: Deepika entered Hollywood with the film ‘XXX: Return of Xander Cage’, opposite Vin Diesel, marking her debut in the international film industry.
• Global Appearances: She gained global attention with her presence at high-profile events such as the Met Gala and Cannes Film Festival, building her image as an international icon.
• Named in TIME 100 List: Deepika was included in TIME magazine’s list of 100 most influential people, further validating her global stature.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Suriname’s Parliament Elects Jennifer Geerlings-Simons as First Female President

• Suriname’s Parliament elected Jennifer Geerlings-Simons as the country’s first female President.
• She was elected unopposed by a two-thirds vote in the National Assembly after her party formed a coalition post-May elections with no clear winner.
• Geerlings-Simons leads the National Democratic Party (NDP) and will be inaugurated on July 16, 2025.
• Suriname is a Dutch-speaking South American nation with a population of over 646,000.
• The election comes as Suriname prepares for offshore oil production, expected to begin by 2028, promising an influx of wealth.
• The outgoing President, Chandrikapersad Santokhi, faced several corruption scandals and had to seek assistance from the International Monetary Fund (IMF).
• Geerlings-Simons and her Vice President Gregory Rusland pledged to stabilize the country’s finances.
• They plan to increase state revenues by improving tax collection, particularly in the small-scale gold-mining sector.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Government Likely to Accelerate Stake Sale in GIC Re and New India Assurance

• The Union Finance Ministry is planning to dilute at least half of the required stake in New India Assurance Company and General Insurance Corporation of India (GIC Re) during FY26 to comply with SEBI’s Minimum Public Shareholding (MPS)
• Currently, the government holds 85.44% in New India Assurance and 82.4% in GIC Re.
• SEBI mandates all listed companies, including public sector insurers, to maintain a minimum 25% public shareholding under Rule 19A of the Securities Contracts (Regulation) Rules, 1957, and Regulation 38 of the SEBI (LODR) Regulations.
• Accordingly, the government must dilute 10.44% in New India Assurance and 7.4% in GIC Re.
• A phased disinvestment is planned:~5% in New India Assurance, ~3.5% in GIC Re, Targeted by end of FY26
• For LIC, the government plans to divest a 6.5% stake in tranches by May 2027, raising public shareholding to 10%.
• LIC was listed in May 2022 with an initial 3.5% stake sale.

CURRENT AFFAIRS : DEFENCE NEWS

8th Edition of Indo-French Military Exercise ‘Shakti’ Concludes After Two Weeks of Joint Training                                          

• The 8th edition of the Indo-French Joint Military Exercise ‘Shakti’ concluded after two weeks of intensive training and cooperation.
• The exercise was held from June 18 to July 1, 2025, in France, hosted by the 13th French Foreign Legion Demi-Brigade (13 DBLE).
• More than 500 personnel from various units of the French Army
• India was represented by a 90-member contingent, including a Battalion from the Jammu and Kashmir Rifles.
• The exercise was conducted in two phases:
• Phase 1: June 18–21 in Aveyron’s Monclar district.
• Phase 2: June 22–26 in Herault.
• Exercise Shakti focused on enhancing joint operational preparedness for sub-conventional combat situations under Chapter VII of the United Nations Charter.
• Training was conducted in realistic semi-urban terrain to simulate tough combat conditions.
• The exercise serves as a platform for exchanging best practices in tactics, techniques, and procedures.
• It strengthens strategic ties and mutual respect between the Indian and French armed forces.
• Other key Indo-French defence exercises include:
• Exercise Garuda (Air Forces)
• Exercise Varuna (Navies)
• Exercise Shakti (Armies)
• These exercises are held regularly and have grown in scope and complexity over the years.

Recent News :

• In May 2025, Iran and Azerbaijan launched a joint special forces exercise named “Aras-2025” running from May 18 to May 21, 2025.

About Ministry of Defence:

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

France’s Safran to Launch Hyderabad Facility for M88 Engine Maintenance of Rafale Jets

• France-based Safran Aerospace announced plans to set up a new entity, Safran Aircraft Engine Services India, in Hyderabad.
• The facility will focus on maintenance and overhaul of M88 engines used in Rafale fighter jets.
• The project is expected to create around 150 jobs by the end of next year, with potential to add 750 more jobs in later phases.
• Announcement made by Pierre Fernandez, General Manager of Safran Aerospace, after meeting Telangana Industries Minister D Sridhar Babu.
• Safran currently operates two major facilities in Hyderabad:
• Safran Electrical & Power India for manufacturing electrical harnesses for CFM LEAP engines and Dassault Rafale.
• Safran Aircraft Engines Hyderabad for producing rotating parts for the LEAP engine's low-pressure turbine.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Sets Up Its First Globally Recognised Equine Disease-Free Zone at RVC Centre, Meerut, Uttar Pradesh

• India has established its first Equine Disease-Free Compartment (EDFC), recognised globally by the World Organisation for Animal Health (WOAH) on 3rd July 2025.
• The EDFC is located at the Remount Veterinary Corps (RVC) Centre & College, Meerut Cantonment, Uttar Pradesh.
• This facility enables the international movement of Indian sport horses in line with global biosecurity and animal health standards.
• The EDFC implements robust biosecurity protocols, stringent veterinary surveillance, and international norms to allow horses to travel and compete abroad.
• It boosts India’s position in global equestrian sports, supports horse breeding, high-value equine trade, and strengthens the country’s biosecurity and disease preparedness framework.
• The compartment is declared free from several diseases:Equine Infectious Anemia, Equine Influenza, Equine Piroplasmosis, Glanders, Surra
• India has been free from African Horse Sickness since 2014.
• The achievement was made possible through coordination among:Department of Animal Husbandry and Dairying, Ministry of Defence (Directorate of Remount Veterinary Services), Equestrian Federation of India (EFI), Animal Husbandry Department, Government of Uttar Pradesh
• The EDFC complies with the WOAH Terrestrial Animal Health Code, which endorses compartmentalisation — a science-based approach maintaining animal sub-populations with distinct health status through strict biosecurity and husbandry.
• India is also applying compartmentalisation to the poultry sector by developing Highly Pathogenic Avian Influenza (HPAI) Free Compartments to ensure safe poultry exports.
• Overall, these initiatives demonstrate India’s comprehensive national strategy to strengthen biosecurity, promote export readiness, and build resilient animal health systems aligned with global standards

About Ministry of Fisheries, Animal Husbandry & Dairying :

• Cabinet Minister : Lalan Singh
• Minister of State : S. P. Singh Baghel,George Kurian

Ministry of Education’s Department of School Education & Literacy Holds National Conference on Board Equivalence and Enhancing Learning Outcomes

• The Department of School Education & Literacy (DoSE&L), Ministry of Education, organized a National Conference in New Delhi to discuss curricular and assessment equivalence across school boards and strategies to improve learning outcomes.
• A major highlight was the formal launch of the PARAKH Rashtriya Sarvekshan Dissemination Portal, which provides open access to National and State-level data on student performance.
• The PARAKH portal is expected to help States/UTs design targeted improvement plans to enhance learning outcomes and bridge skill gaps.
• The conference also emphasized the implementation of Holistic Progress Cards (HPCs) by States/UTs.
• Ready Reckoner Videos were launched to support schools and teachers in adopting child-centric, continuous evaluation methods, aiding the mainstreaming of these practices.
• Head and CEO of PARAKH : Prof. Indrani Bhaduri

About Ministry of Education :

• Cabinet Minister : Dharmendra Pradhan
• Minister of State : Sukanta Majumdar,Jayant Chaudhary

Elon Musk Forms 'America Party' Aiming to Restore Freedom

• A dispute arose between Republican President Donald Trump and his major campaign financier Elon Musk after Musk announced the formation of a new political party called the America Party.
• Musk criticized Trump’s “big, beautiful” tax-cut and spending bill, claiming it would bankrupt America.
• Musk launched the American Party to “give you back your freedom”, signaling a break from traditional party lines.
• The announcement followed Trump signing the tax bill into law on Friday, which Musk strongly opposed.
• Elon Musk, known as the world’s richest man, made his wealth through Tesla and SpaceX.
• Musk had previously spent hundreds of millions supporting Trump’s re-election and led a government efficiency department focused on reducing spending during Trump’s second term.
• Investor concerns emerged immediately, with Azoria Partners, an investment firm, postponing the listing of a Tesla exchange-traded fund (ETF).

Ananth Technologies to Roll Out India’s First Privately-Led Satellite Broadband Service                       

• Ananth Technologies, a private Indian company, has become the first in India to receive authorization from Indian National Space Promotion and Authorisation Centre (IN-SPACe) to launch broadband-from-space services by 2028.
• The company will use a locally-built geostationary (GEO) satellite to provide these services.
• This initiative enables Ananth Technologies to compete with global satcom giants like Starlink, Eutelsat OneWeb, and Amazon Kuiper.
• The planned satellite will weigh 4 tonnes and offer 100 Gbps capacity, backed by an initial investment of ₹3,000 crore, with potential expansion based on demand.
• This represents a major shift from the previous ISRO-led satellite deployment model to a private enterprise-driven approach under India’s space sector reforms.
• Unlike LEO satellites used by global competitors, GEO satellites offer broader coverage with fewer units but have higher latency.
• The Department of Telecommunications (DoT) is assisting with international frequency coordination for the project.
• India’s space economy is projected to reach $44 billion by 2033, with the satcom market expected to grow significantly.
• Demand for bandwidth is forecasted to reach 1.5–2 Tbps in the next five years.

Recent News :

• In June 2025, Vodafone Idea (Vi) announced a strategic alliance with US-based AST SpaceMobile to introduce satellite phone services directly to standard smartphones in India.

Indian Institute of Science Bengaluru Launches BHARAT Initiative on Healthy Aging Under Longevity India Program

• The Indian Institute of Science (IISc), Bengaluru launched BHARAT — Biomarkers of Healthy Aging, Resilience, Adversity, and Transitions — under its Longevity India Program.
• The study aims to map physiological, molecular, and environmental indicators that influence ageing in the Indian population.
• A key objective is to build the “Bharat Baseline”, which will serve as a reference for biologically normal aging in India.
• The BHARAT database will include genomic, proteomic, and metabolic data.
• According to WHO, a biomarker is any measurement that reflects the interaction between a biological system and a potential hazard (chemical, physical, or biological), including functional, physiological, biochemical, or molecular responses.

CURRENT AFFAIRS: SPORTS NEWS

India Shines at World Boxing Cup 2025 with Record Medal Haul

• India delivered its best-ever performance at the World Boxing Cup 2025 held in Astana, Kazakhstan, securing a total of 11 medals, including 3 golds by Sakshi, Jaismine, and Nupur.
• This marks a historic milestone for Indian women’s boxing on the global stage.

Key Highlights:

• Gold Medal Winners:
  • Sakshi (54kg) defeated Yosline Perez (USA) with a unanimous decision.
  • Jaismine (57kg) triumphed over Jucielen Cequeira Romeu (Brazil) with a 4:1 score.
  • Nupur (80+kg) dominated Yeldana Talipova (Kazakhstan) with a 5:0 win.
• Total Medal Tally: India bagged 11 medals — 3 Gold, 5 Silver, and 3 Bronze, surpassing its previous best from the Brazil leg (6 medals: 1 Gold, 1 Silver).
• Historic Achievement: This is India's highest medal count in the history of the World Boxing Cup, showcasing the nation’s growing prowess in international women's boxing.
• BFI Commendation: The Boxing Federation of India praised the athletes and coaches for their dedication and hard work, calling the results a major boost for Indian boxing.

Lando Norris Clinches Rain-Soaked Victory at Silverstone British Grand Prix

• In a dramatic, rain-affected race at Silverstone, Lando Norris delivered a dream result for himself and McLaren, winning the British Grand Prix and closing the championship gap to teammate Oscar Piastri.

Key Highlights:

• Home Triumph: Norris achieved his long-awaited win at his home track, fulfilling a childhood ambition after watching Lewis Hamilton’s 2008 victory.
• Starting and Strategy: Began the race third on the grid, overtook Max Verstappen, and assumed the lead when Piastri served a 10-second penalty.
• Piastri Penalty Controversy: Oscar Piastri, initially leading, was penalized for over-braking under a safety car restart, which the Australian deemed unfair.
• Championship Impact: Norris cut Piastri’s lead from 15 to 8 points with 12 races remaining.
• Hülkenberg’s Remarkable Podium: Nico Hülkenberg climbed from 19th to finish third, marking his first podium in 239 races and Sauber’s first since 2012.
• Verstappen’s Setback: Max Verstappen, despite starting from pole, spun and ended fifth, now 69 points adrift of Piastri in the standings.
• Rookie Retirements: Isack Hadjar, Gabriel Bortoleto, Liam Lawson, and Franco Colapinto all crashed out; Oliver Bearman managed 11th place despite colliding with teammate Esteban Ocon.

RECENT NEWS

• Oscar Piastri, the 24-year-old Australian driver for McLaren, clinched his fifth win of the 2025 Formula One season by dominating the Spanish Grand Prix at the Circuit de Barcelona-Catalunya.
• British Formula 1 driver Lando Norris claimed an impressive victory at the 2025 Monaco Grand Prix on May 25, expertly converting his pole position into a win.

India Secures First Ever Test Victory at Edgbaston with Record 336-Run Win

• India made history at Edgbaston by defeating England by 336 runs, marking their first Test match win at the venue and recording their largest away Test victory.
• This triumph also allowed India to level the series after losing the opening Test.

Key Highlights:

• Breaking the Edgbaston Jinx: Prior to this match, India had suffered seven losses and one draw in eight Tests at Edgbaston.
• Record Margin of Victory: The 336-run win is India’s biggest win by runs in any away Test, surpassing the 318-run victory over West Indies in 2019.
• Series Levelled: For the first time in England, India leveled a Test series after dropping the first match; previously they had only lost or drawn the second Test.
• Akash Deep’s Ten-Wicket Match Haul: Deep claimed 10 wickets for 187 runs, the best match figures by an Indian bowler in England, and became the second Indian after Chetan Sharma (1986 at Edgbaston) to achieve a ten-wicket haul in England.
• Pace Attack Partnership: Alongside Mohammed Siraj, India’s new-ball duo took a combined 17 wickets, equaling the record for most wickets by Indian new-ball bowlers in a Test.
• Jamie Smith’s Keeper Record: England’s wicketkeeper Jamie Smith scored 272 runs, the third-highest individual score by a keeper in Test history.
• High-Scoring Encounter: The match featured a combined total of 1,692 runs—the highest aggregate in any India–England Test at Edgbaston, overtaking the previous Headingley record.
• Series Run Aggregate Record: The 3,365 runs scored across the first two Tests constitute the highest total for the opening pair of Tests in any bilateral series.

India to Bid for 2029 or 2031 World Athletics Championships as Part of Olympic Hosting Ambition

• India has officially announced its intention to bid for hosting rights of the World Athletics Championships in 2029 or 2031.
• The plan was revealed by Adille Sumariwalla, a senior official of the Athletics Federation of India (AFI) and vice-president of World Athletics, during a press interaction, in Bengaluru.
• The move aligns with India's broader vision to host the 2036 Olympic Games.

Key Highlights:

• Target Years: 2029 and 2031 – India aims to host either the 2029 or 2031 edition of the World Athletics Championships. Both editions will be awarded together in September 2026 by World Athletics.
• Strategic Bid Approach – India is preparing a flexible bid, opting for either year based on availability, as part of a calculated strategy to improve hosting chances.

Bidding Timeline:

• Expression of interest deadline – October 1, 2025
• Detailed application submission – April 1, 2026
• Final bid documents due – August 5, 2026
• Focus Shifting to 2031 – With Asia hosting the 2025 edition in Tokyo and 2027 in Beijing, India's original plan to bid only for 2029 was revised. Three consecutive Asian editions are considered unlikely, making 2031 a stronger opportunity.
• Olympic Aspirations – The bid is part of India’s long-term sporting strategy to secure the 2036 Olympic Games, positioning itself as a capable host of top-tier international events.
• Junior World Championships Interest – India has also submitted interest to host the 2028 Junior World Championships. The decision on the 2028 and 2030 hosts will be made by World Athletics in December 2025.
• World Athletics Relays Bid – India plans to bid for future editions of the World Athletics Relays following the 2026 event in Botswana and 2028 in the Bahamas, reflecting its intent to become a regular host for international athletics competitions.

CURRENT AFFAIRS: IMPORTANT DAYS

World Rural Development Day -July 6

• World Rural Development Day, celebrated annually on July 6, recognizes the vital role of rural communities in achieving sustainable development.
• The day highlights the need to address poverty, food insecurity, and inequality, while promoting the empowerment of rural populations through inclusive policies, infrastructure development, and resource accessibility.

Key Highlights:

• Focus on Rural Empowerment: The day emphasizes supporting rural communities with tools and opportunities to improve livelihoods and self-reliance, ensuring no one is left behind in the development journey.
• Addressing Key Challenges: Aims to tackle critical rural issues such as poverty, hunger, and lack of infrastructure, which are major barriers to overall national and global progress.
• Not a UN-Designated Day: Though not officially recognized by the United Nations, the observance has gained global support through the efforts of NGOs, governments, and civil society organizations.
• Linked to UN SDGs: Closely aligns with Sustainable Development Goals (SDGs)—especially Goal 1 (No Poverty), Goal 2 (Zero Hunger), and Goal 15 (Life on Land)—by advocating for sustainable rural development.
• Origin and Evolution: The concept began in the early 21st century, rooted in the increasing recognition of rural areas’ contributions to economic and social growth. Over time, it has become a significant occasion for policy dialogue, awareness campaigns, and community engagement activities.

Global Forgiveness Day 2025 - July 7

• Global Forgiveness Day is observed every year on July 7 to promote the power of forgiveness as a means for personal and social healing.
• Established in 1994 by the Christian Embassy of Christ’s Ambassadors (CECA), the day encourages people to release grudges, embrace empathy, and foster reconciliation.

Key Highlights:

• Established in 1994: The day was originally launched as National Forgiveness Day by CECA in Victoria, British Columbia.
• Now Celebrated Globally: It evolved into Global Forgiveness Day to reflect the universal value of forgiveness across cultures and communities.
• Purpose: The day aims to encourage people to forgive others and themselves, promoting emotional well-being, peace, and healthier relationships.
• Symbolic Date: July 7 was also chosen to commemorate the day chocolate was first brought to Europe, symbolizing sweetness replacing bitterness—just like forgiveness replaces pain.

Daily CA One- Liner: July 8

• Rajasthan government launched the Pandit Deendayal Upadhyay Poverty-Free Village Scheme, aiming to eliminate poverty in 5,000 villages.
• Prime Minister Narendra Modi attended the 17th BRICS Summit held in Rio de Janeiro, Brazil, from 6–7 July 2025
• Union Minister Jitendra Singh inaugurated India’s first National Biobank at the CSIR-Institute of Genomics and Integrative Biology (IGIB), New Delhi.
• In a major digital governance initiative, Himachal Pradesh has become the first Indian state to implement Aadhaar-linked face recognition (FaceAuth) for ration delivery under the Public Distribution System (PDS).
• India has been ranked as the fourth most income-equal country globally in the World Bank’s 2025 report, with a Gini Index score of 25.5.
• India has overtaken China to become the world’s fourth-largest biofuel consumer in 2024, according to the Statistical Review of World Energy 2025.
• Prime Minister Narendra Modi received the ‘Key to the City of Buenos Aires’, marking a symbolic gesture of trust and friendship during his official two-day visit to Argentina—the first by an Indian PM in 57 years.
• In a landmark moment for Indian cinema, Deepika Padukone has been selected to receive a star on the Hollywood Walk of Fame, making her the first Indian actress to be honoured with this prestigious international recognition.
• India delivered its best-ever performance at the World Boxing Cup 2025 held in Astana, Kazakhstan, securing a total of 11 medals, including 3 golds by Sakshi, Jaismine, and Nupur
• In a dramatic, rain-affected race at Silverstone, Lando Norris delivered a dream result for himself and McLaren, winning the British Grand Prix and closing the championship gap to teammate Oscar Piastri
• India made history at Edgbaston by defeating England by 336 runs, marking their first Test match win at the venue and recording their largest away Test victory.
• India has officially announced its intention to bid for hosting rights of the World Athletics Championships in 2029 or 2031.
• World Rural Development Day, celebrated annually on July 6, recognizes the vital role of rural communities in achieving sustainable development.
• Global Forgiveness Day is observed every year on July 7 to promote the power of forgiveness as a means for personal and social healing.
• The Securities and Exchange Board of India (SEBI) has barred United States (US)-based proprietary trading firm Jane Street and its affiliates from participating in Indian securities markets.
• Colombia and Uzbekistan have officially joined the New Development Bank (NDB), expanding the membership of the multilateral lender known as the BRICS Bank.
• Three Public Sector Units (PSUs) hold a combined 23% stake in the National Stock Exchange (NSE), valued at over ₹1.3 lakh crore based on a share price of ₹2,325.
• The Department of Posts will enable all Indian post offices to accept digital payments via UPI at their counters by August 2025.
• The Finance Ministry has extended the deadline to choose between Unified Pension Scheme (UPS) and National Pension System (NPS) to September 30, 2025, from the earlier deadline of June 30, 2025.
• Gujarat has become the third state in India to record over 1 crore registered stock market investors, according to the National Stock Exchange (NSE)
• Suriname’s Parliament elected Jennifer Geerlings-Simons as the country’s first female President.
• The Union Finance Ministry is planning to dilute at least half of the required stake in New India Assurance Company and General Insurance Corporation of India (GIC Re) during FY26 to comply with SEBI’s Minimum Public Shareholding (MPS)
• The 8th edition of the Indo-French Joint Military Exercise ‘Shakti’ concluded after two weeks of intensive training and cooperation.
• France-based Safran Aerospace announced plans to set up a new entity, Safran Aircraft Engine Services India, in Hyderabad.
• India has established its first Equine Disease-Free Compartment (EDFC), recognised globally by the World Organisation for Animal Health (WOAH) on 3rd July 2025.
• The Department of School Education & Literacy (DoSE&L), Ministry of Education, organized a National Conference in New Delhi to discuss curricular and assessment equivalence across school boards and strategies to improve learning outcomes.
• A dispute arose between Republican President Donald Trump and his major campaign financier Elon Musk after Musk announced the formation of a new political party called the America Party.
• Ananth Technologies, a private Indian company, has become the first in India to receive authorization from Indian National Space Promotion and Authorisation Centre (IN-SPACe) to launch broadband-from-space services by 2028.
• The Indian Institute of Science (IISc), Bengaluru launched BHARAT — Biomarkers of Healthy Aging, Resilience, Adversity, and Transitions — under its Longevity India Program.