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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Imposes ₹41.80 Lakh Monetary Penalty on Canara Bank

• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹41.80 lakh on Canara Bank on 5 June 2026.
• The penalty was imposed for non-compliance with RBI directions relating to ‘Know Your Customer (KYC)’ norms and ‘Unclaimed Deposits / Inoperative Accounts in Banks’.
• The action was taken under Section 47A(1)(c) read with Sections 46(4)(i) and 51(1) of the Banking Regulation Act, 1949.
• The violations were identified during the Statutory Inspection for Supervisory Evaluation (ISE 2025) conducted by the RBI.
• The inspection assessed the bank's financial position as of 31 March 2025.
• RBI issued a show-cause notice to the bank after finding supervisory deficiencies and sought an explanation for the non-compliance.
• After examining the bank's written reply, additional submissions, and oral submissions during a personal hearing, RBI concluded that the charges were sustained.
• Canara Bank failed to upload KYC records of certain customers to the Central KYC Records Registry (CKYCR) within the prescribed timeline.
• The bank also incorrectly classified certain customer accounts as inoperative accounts, even though the last customer-induced transaction in those accounts had occurred less than one year earlier.

Pension Fund Regulatory and Development Authority Introduces New ‘StAR NPS’ Solution for Efficient NPS Subscriber Onboarding

• Pension Fund Regulatory and Development Authority (PFRDA), the statutory regulator under the Ministry of Finance (MoF), launched the ‘StAR NPS’ platform to simplify and streamline the National Pension System (NPS) subscriber registration process.
• StAR NPS has been developed by Bombay Stock Exchange Limited (BSE) Technologies Private Limited (BTPL).
• The platform provides technology-enabled assisted onboarding for NPS subscribers through Points of Presence (PoPs) and their network of pension agents.
• The objective of StAR NPS is to make subscriber onboarding faster, easier, and more efficient.
• Under the new framework, Resident Indian individuals aged 18 years and above up to 85 years are eligible to enroll through the platform.
• PFRDA also introduced a Regulatory Sandbox Framework, which came into effect on 2 June 2026.
• The Regulatory Sandbox Framework enables controlled testing of innovative pension-sector solutions before their wider adoption.
• The framework allows PFRDA-registered intermediaries and eligible non-registered entities, including fintech firms, to test innovative solutions with a limited set of users for a specified period.
• The sandbox aims to promote innovation, experimentation, and technological advancement in the pension sector.
• Non-registered entities applying independently must have a minimum net worth of ₹10 lakh to participate in the sandbox framework.
• Such non-registered entities are eligible only if their innovations do not handle subscriber contributions, pension funds, or any subscriber data.

Recent News :

• In July 2026, The Pension Fund Regulatory and Development Authority (PFRDA) introduced new Retirement Income Schemes (RIS) and drawdown options under the National Pension System (NPS).

About PFRDA:

• Established: 2003 (Statutory status from PFRDA Act, 2013)
• Under which Ministry: Ministry of Finance, Government of India
• Headquarters: New Delhi
• Chairman: Sivasubramanian Ramann
• Purpose: To promote, develop, and regulate the pension sector in India, especially the National Pension System (NPS) and other old-age income security schemes.

Reserve Bank of India Maintains Key Policy Rates Unchanged in 2nd Bi-Monthly Monetary Policy Review

• The Reserve Bank of India (RBI) conducted the 61st and 2nd Bi-Monthly Monetary Policy Committee (MPC) Meeting of Financial Year 2026-27 (FY27) from 3–5 June 2026.
• The meeting was chaired by Sanjay Malhotra, Governor of the RBI.
• Other MPC members who attended the meeting were Nagesh Kumar, Saugata Bhattacharya, Ram Singh, Poonam Gupta, and Indranil Bhattacharyya.
• The Monetary Policy Committee (MPC) voted unanimously to keep the Policy Repo Rate under the Liquidity Adjustment Facility (LAF) unchanged at 5.25%.
• The Standing Deposit Facility (SDF) Rate remains unchanged at 5.00%.
• The Marginal Standing Facility (MSF) Rate and the Bank Rate continue at 50%.
• The MPC decided to maintain its ‘Neutral’ Stance, indicating that policy rates may move either upward or downward depending on future economic conditions.
• The decision to keep the Repo Rate unchanged was influenced by uncertainties arising from geopolitical conflicts, global supply-chain disruptions, and food inflation risks.
• The RBI projected Real Gross Domestic Product (GDP) Growth at 6.6% for FY27.
• The RBI projected Consumer Price Index (CPI) Inflation at 5.1% for FY27.

Reserve Bank of India to Expand Cross-Border Central Bank Digital Currency Pilots as Digital Rupee Trials Advance

• The Reserve Bank of India (RBI) plans to expand Central Bank Digital Currency (CBDC) pilot projects in FY27 by introducing new Domestic and Cross-Border Use Cases.
• The RBI will explore Bilateral and Multilateral Cross-Border CBDC Pilots to make international payments faster, cheaper, more Efficient, and less dependent on traditional payment channels.
• The central bank will participate in Multilateral Projects focused on developing Technical Standards and Governance Frameworks for cross-border CBDC transactions.

Key Highlights :

• The Digital Rupee (e₹) pilot will be expanded to include additional Direct Benefit Transfer (DBT) Schemes and Domestic Retail Payment Transactions.
• The move aims to increase the practical utility and adoption of the Digital Rupee among individuals and businesses.
• The RBI plans to introduce a CBDC and Asset Tokenization Sandbox Framework for testing innovative products and services built around CBDC infrastructure.
• The central bank will further explore Tokenisation of Financial Assets along with settlement through CBDC.
• Participation in CBDC pilots will be widened by involving more Banks, Financial Institutions, and other stakeholders.
• The Digital Rupee (CBDC) is a Sovereign Digital Currency issued by the Reserve Bank of India.
• The CBDC appears as a Liability on RBI’s Balance Sheet, similar to physical currency.
• The Digital Rupee is exchangeable at par with physical currency and functions as Legal Tender.
• The RBI launched the Wholesale CBDC Pilot in November 2022.
• The Retail CBDC Pilot was launched in December 2022, one month after the wholesale pilot.
• To support asset tokenisation, the RBI developed the Unified Markets Interface (UMI) platform.
• The UMI Platform facilitates Tokenization of Financial Assets while using Wholesale CBDC for settlement.
• A pilot involving Tokenised Certificates of Deposit has already been initiated on the UMI Platform.
• The RBI signed a Memorandum of Understanding (MoU) with the Monetary Authority of Singapore (MAS) for collaboration in the digital asset ecosystem.
• The RBI also held bilateral discussions with Singapore and the Central Bank of the UAE on operationalising Cross-Border CBDC Pilots.
• The RBI has joined BIS Innovation Hub initiatives, including Project Rialto and Project Mandala (Phase II).
• Both Project Rialto and Project Mandala aim to improve Cross-Border Payments using CBDC Technology.

Reserve Bank of India Proposes One-Hour Cooling-Off Period for Digital Payments Above ₹10,000 to Curb Fraud

• The Reserve Bank of India (RBI) has proposed a one-hour cooling-off period for digital transactions exceeding ₹10,000 to reduce online payment frauds.
• The proposal is part of RBI’s discussion paper titled “Exploring Safeguards in Digital Payments to Curb Frauds”.
• The discussion paper seeks stakeholder feedback on additional security measures to strengthen the digital payment ecosystem.
• Under the proposal, transactions above ₹10,000 will be provisionally debited from the payer's account, but the actual transfer of funds will be delayed by one hour.
• During the cooling-off period, customers will have the option to cancel the transaction if they suspect fraud.
• The proposed mechanism aims to provide an additional layer of protection against unauthorized and fraudulent transactions.
• According to RBI, transactions above ₹10,000 account for approximately 45% of fraud cases by volume.
• These transactions constitute nearly 98.5% of the total fraud value, making them a major focus area for fraud prevention.
• During the cooling-off period, banks may flag suspicious transactions and initiate additional verification procedures.
• Banks may also seek reconfirmation from customers before processing high-value digital transactions.
• Financial institutions can issue fraud-risk warnings and alerts to customers during the waiting period.

₹500 Banknotes in Circulation Rise 11.2% in FY26, Reaching 7.05 Lakh Crore Pieces

• The volume of ₹500 denomination banknotes in circulation increased by 11.2% during FY26, rising from 6,34,458 lakh pieces in FY25 to 7,05,482 lakh pieces.
• ₹500 notes continued to dominate India's currency system and remained the most widely circulated denomination.
• In value terms, ₹500 banknotes in circulation increased from ₹31.72 lakh crore in FY25 to ₹35.27 lakh crore in FY26.
• ₹500 notes accounted for more than 85% of the total value of currency in circulation during FY26.
• In terms of volume, ₹500 notes constituted 41.2% of the total banknotes in circulation, making them the most widely used denomination in India.
• The ₹10 denomination note was the second most circulated banknote, accounting for 16.1% of the total volume of banknotes in circulation.
• The Reserve Bank of India (RBI) reported an increase of over 20% in the number of counterfeit ₹500 notes detected during FY26.
• The rise in fake ₹500 notes highlights the continuing challenge of combating counterfeit currency despite enhanced security features.
• The withdrawal of ₹2,000 denomination banknotes continued during FY26.
• At the time of withdrawal, the total value of ₹2,000 notes in circulation was ₹3.56 lakh crore.
• By March 2026, 98.45% of the withdrawn ₹2,000 notes had been returned to the banking system.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi Inaugurates New Terminal Building at NAMO Airport, Daman

• Prime Minister Narendra Modi inaugurated the new terminal building of NAMO Airport, Daman.
• The project aims to enhance air connectivity, passenger convenience, tourism, and economic development in the Union Territory of Dadra and Nagar Haveli and Daman and Diu.
• The new terminal building is part of a broader ₹2,970 crore development package unveiled during the Prime Minister’s visit.
• The airport project is expected to strengthen Daman’s integration with India's growing civil aviation network and improve regional connectivity.
• The terminal has been equipped with modern infrastructure and can accommodate approximately 180 passengers at a time.
• Key features include modern passenger amenities, enhanced passenger handling systems, improved operational efficiency, and better travel experience for tourists and residents.
• Improved air connectivity is expected to boost tourism in Daman, which is known for its beaches, historical sites, and coastal attractions.
• The project is likely to support growth in the hospitality, tourism, transport, and service sectors, creating new employment and investment opportunities.
• Better connectivity will facilitate travel between Daman and major cities such as Mumbai, Ahmedabad, and Delhi.
• The airport terminal is expected to attract greater industrial, commercial, and tourism-related investments to the region.
• During the visit, the Prime Minister also inaugurated and laid foundation stones for projects covering healthcare, tourism, public welfare, infrastructure, and connectivity sectors.

Delhi Gets 18 Namo Oxygen Parks Under ‘Ek Ped Maa Ke Naam’ Campaign

• On World Environment Day 2026 (5 June), Union Minister for Environment, Forest and Climate Change Bhupender Yadav and Delhi Chief Minister Rekha Gupta inaugurated 18 Namo Oxygen Parks across Delhi.
• The parks have been developed under the ‘Ek Ped Maa Ke Naam’ campaign to increase green cover and improve urban environmental sustainability.
• The flagship event was held at the Namo Oxygen Park, Maidangarhi, Delhi.
• The Namo Oxygen Parks are designed to function as urban green lungs, helping improve air quality, enhance biodiversity, and provide recreational green spaces for citizens.
• The initiative aims to improve urban air quality, increase green cover, promote biodiversity conservation, encourage community participation, and create recreational spaces.
• During the event, Bhupender Yadav highlighted India's achievements in environmental protection under the leadership of Prime Minister Narendra Modi.
• He cited key initiatives and achievements including the International Solar Alliance (ISA), International Big Cat Alliance (IBCA), Pradhan Mantri Surya Ghar: Muft Bijli Yojana, expansion of solar energy capacity, increase in Ramsar Sites, and achievement of Nationally Determined Contribution (NDC) targets ahead of schedule.
• The Minister described ‘Ek Ped Maa Ke Naam’ as a people-centric movement that encourages citizens to plant and nurture a tree in honour of their mothers.
• Delhi Chief Minister Rekha Gupta announced a target of planting 15 lakh trees and saplings across Delhi during 2026.
• She urged citizens, Resident Welfare Associations, educational institutions, and community organisations to actively participate in plantation drives and tree conservation.
• Three important environmental documents were released during the event:
• Working Plan for National Capital Territory of Delhi (2026–27 to 2036–37)
• Asola Bhatti Wildlife Sanctuary Management Plan (2024–25 to 2034–35)
• Delhi Bird Atlas

About Ministry of Environment, Forest and Climate Change

• Union Minister: Bhupender Yadav
• Minister of State: Kirti Vardhan Singh

RECENT NEWS

• Delhi Forest Department set to develop the ‘Vaman Van’ which is an interactive biodiversity zone designed to bring the people closer to nature. This initiative aims to create the engaging environmental education space where children, students and visitors can learn about forests, plant diversity and ecological conservation through the direct experience.

India’s 7th Regional Meteorological Centre Inaugurated in Jammu

• Union Minister Dr. Jitendra Singh inaugurated the Regional Meteorological Centre (RMC) in Jammu.
• The facility becomes India’s seventh Regional Meteorological Centre under the India Meteorological Department (IMD).
• The centre will provide meteorological services to Jammu & Kashmir, Ladakh, and Himachal Pradesh.
• It is expected to strengthen weather monitoring, forecasting accuracy, climate services, and disaster early-warning systems in the Himalayan region.
• The Regional Meteorological Centre will provide district-level weather forecasts, mountain weather forecasts, tourist advisories, city-specific forecasts, flash-flood warnings, avalanche alerts, cloudburst warnings, landslide warnings, thunderstorm alerts, and heavy snowfall forecasts.
• The centre will benefit pilgrims, farmers, disaster management agencies, hydropower projects, tourism operators, transport services, and security forces operating in high-altitude areas.
• Pilgrims visiting Amarnath Cave Shrine and Vaishno Devi will receive timely weather updates and safety advisories.
• Dr. Jitendra Singh highlighted the significant expansion of weather-monitoring infrastructure in the region over the last decade.
• At present, four Doppler Weather Radars are operational in the region at Jammu, Srinagar, Leh, and Banihal Top.
• Under Mission Mausam, five additional Doppler Weather Radars have been proposed at Anantnag, Rajouri, Baramulla, Kishtwar, and Doda.
• The Srinagar Meteorological Observatory has been recognized by the World Meteorological Organization (WMO) as a Centennial Observing Station for its more than 100 years of contribution to weather observation and climate science.
• A Regional Meteorological Centre functions as a major forecasting and weather-monitoring hub responsible for weather forecasting, disaster early-warning services, climate monitoring, aviation meteorology, agro-meteorological advisories, hydrological forecasting, and public weather services.
• Mission Mausam is the Government of India's flagship initiative aimed at modernizing weather forecasting systems through advanced technologies, expanded radar networks, and improved weather observation infrastructure.

About India Meteorological Department

• Parent Ministry: Ministry of Earth Sciences
• Established: 1875
• Headquarters: New Delhi
• Director General of Meteorology: Mrutyunjay Mohapatra

RECENT NEWS

• The Indian Railways has announced that the Jammu-Shri Mata Vaishno Devi Katra rail section will undergo the critical protection and rehabilitation works worth ₹238 crore. This project aims to strengthen passenger safety, improve operational reliability and will make the strategically important route more resilient against the difficult terrain.

India Launches E85 Fuel to Reduce Oil Imports and Promote Green Mobility

• India has launched E85 fuel, a petrol blend containing approximately 85% ethanol and 15% petrol, to reduce dependence on imported crude oil and promote cleaner transportation.
• The fuel was launched by Union Minister for Petroleum and Natural Gas Hardeep Singh Puri on World Environment Day (5 June 2026).
• E85 fuel is specifically designed for Flex-Fuel Vehicles (FFVs), which can operate on varying blends of ethanol and petrol.
• The launch marks the next phase of India's ethanol blending programme following the nationwide implementation of E20 fuel.
• The initiative aims to reduce crude oil imports, strengthen energy security, lower greenhouse gas emissions, support domestic ethanol production, and increase farmers’ income.
• Ethanol used in E85 fuel is produced from renewable agricultural feedstocks such as sugarcane, maize, rice, agricultural residues, and biomass resources.
• The rollout has begun in a phased manner and is initially available at around 48–50 fuel stations.
• The first phase covers Delhi-National Capital Region, Mumbai, Pune, and Nagpur.
• The Government plans to expand E85 availability across the country in the coming years.
• E85 fuel is expected to be sold at approximately ₹20 per litre less than E20 petrol, making it a cost-effective alternative for consumers.
• The initiative supports India's goals of green mobility, sustainable development, reduced carbon emissions, and energy security.
• Increased ethanol production is expected to create additional income opportunities for farmers by boosting demand for sugarcane, maize, rice, agricultural residues, and biomass resources.

About Ministry of Petroleum and Natural Gas

• Union Minister: Hardeep Singh Puri
• Minister of State: Suresh Gopi

CURRENT AFFAIRS: AWARDS AND HONOURS

Panchayat Advancement Index Wins Gold Award at National e-Governance Awards 2026

• The Panchayat Advancement Index (PAI), a flagship initiative of the Ministry of Panchayati Raj, has won the Gold Award at the National e-Governance Awards 2026.
• The award has been conferred under Category VII – Digital Transformation through the Use of Data Analytics in Digital Platforms by Central Ministries, States and Union Territories.
• The award will be presented during the 29th National Conference on e-Governance, scheduled to be held on 1–2 July 2026 in Jaipur, Rajasthan.
• The Gold Award comprises a Trophy, Citation, and a cash incentive of ₹10 lakh.
• The recognition highlights the Government's efforts to promote innovation, transparency, accountability, and data-driven decision-making in local governance.
• The Panchayat Advancement Index is India's first comprehensive data-driven framework for assessing the performance of more than 2.6 lakh Gram Panchayats across the country.
• The index helps identify development gaps, improve accountability, and encourage healthy competition among Gram Panchayats.
• The framework supports evidence-based governance and better delivery of public services at the grassroots level.
• The National e-Governance Awards are among India's most prestigious recognitions for excellence in digital governance and public administration.
• In 2026, a total of 17 projects and initiatives were selected for recognition across seven award categories.
• The conference is jointly organized by the Department of Administrative Reforms and Public Grievances (DARPG) and the Ministry of Electronics and Information Technology (MeitY) in association with the Government of Rajasthan.
• The theme of the 29th National Conference on e-Governance is “Viksit Bharat 2047: AI-Enabled, Data-Driven and Secure Digital Governance.”
• The theme emphasizes Artificial Intelligence-driven governance, data-based policy formulation, digital public service delivery, cybersecurity, and citizen-centric governance systems.

About Ministry of Panchayati Raj

• Union Minister: Rajiv Ranjan Singh alias Lalan Singh
• Minister of State: Prof. S. P. Singh Baghel
• Ministry Secretary: Shri Vivek Bharadwaj, IAS

Uttar Pradesh Sangeet Natak Akademi Honours 51 Artistes at SNA Samman Ceremony 2026

• The Uttar Pradesh Sangeet Natak Akademi (SNA) honoured 51 distinguished artistes at the SNA Samman Ceremony 2026 held at Gandhi Auditorium, Jan Bhavan, Lucknow.
• The awards recognized outstanding contributions in Classical Music, Folk Music, Dance, Theatre, and Traditional Folk Arts.
• The awardees were selected for the years 2021, 2022, 2023, and 2024.
• Governor Anandiben Patel emphasized the importance of preserving India's cultural heritage and stated that “Culture is not only an inheritance but also a responsibility.”
• The Governor cited the growing popularity of “Bhajan Clubbing” as an example of how traditional cultural expressions can adapt to modern platforms while retaining their original essence.
• The ceremony was attended by several dignitaries, including Prof. Jayant Khot (Chairman, Uttar Pradesh Sangeet Natak Akademi), Vibha Singh (Vice-Chairperson), Sanjay Kumar Singh (Special Secretary, Culture), and Dr. Shobhit Kumar Nahar (Director, Uttar Pradesh Sangeet Natak Akademi).

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Centre Extends Swaminathan Janakiraman’s Tenure as Reserve Bank of India Deputy Governor for Two More Years

• The Central Government has re-appointed Shri Swaminathan Janakiraman as Deputy Governor of the Reserve Bank of India (RBI) for a period of two years.
• The re-appointment will take effect from 26 June 2026 or until further orders, whichever is earlier.
• Swaminathan Janakiraman was first appointed as Deputy Governor of RBI in June 2023.
• Before joining the RBI, he served as Managing Director (MD) of the State Bank of India (SBI).
• As Deputy Governor, he oversees several important functions, including the Department of Supervision and the Inspection Department.
• The re-appointment ensures continuity in the RBI's regulatory and supervisory responsibilities.
• The Governor of RBI is Sanjay Malhotra.
• The RBI currently has four Deputy Governors: Swaminathan Janakiraman, Poonam Gupta, Shirish Chandra Murmu, and Rohit Jain.

Six Additional Judges Elevated as Permanent Judges of the Bombay High Court

• The President of India appointed Six Additional Judges of the Bombay High Court as Permanent Judges under the provisions of the Constitution of India.
• The appointments were made after consultation with the Chief Justice of India (CJI) and in accordance with the Collegium System.
• The move is aimed at strengthening the Judicial System and enhancing the efficiency of one of India's busiest High Courts.
• The six judges elevated as Permanent Judges of the Bombay High Court are Justice Nivedita Prakash Mehta, Justice Prafulla Surendrakumar Khubalkar, Justice Ashwin Damodar Bhobe, Justice Rohit Wasudeo Joshi, Justice Advait Mahendra Sethna, and Justice Pravin Sheshrao Patil.
• The appointment of Additional Judges as Permanent Judges follows an assessment of their Judicial Performance, Judicial Conduct, and contribution to the Administration of Justice.
• Such appointments are constitutionally made by the President of India based on recommendations of the Judicial Collegium and consultation with the Chief Justice of India.
• The Bombay High Court is one of the Oldest and Most Prominent High Courts in India.
• The court has jurisdiction over the states of Maharashtra and Goa.
• It also exercises jurisdiction over the Union Territories of Dadra and Nagar Haveli and Daman and Diu.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Air Force Collaborates with Indian Institute of Technology Bombay on AI Health Monitoring Technology for Su-30MKI Aircraft

• The Indian Air Force (IAF) has signed three contracts with Indian Institute of Technology Bombay (IIT Bombay) to develop an Artificial Intelligence (AI)-based Health Index System for the engines of Su-30MKI fighter aircraft undergoing mid-life maintenance.
• The project aims to create a health index for every Su-30 MKI engine, helping reduce service costs, improve aircraft availability, and extend operational life.
• IIT Bombay is developing an AI Digital Twin Model, which acts as a virtual replica of the aircraft engine.
• The AI Digital Twin will provide real-time diagnostics, prognostics, and predictive maintenance capabilities for the gas turbine engines of the Su-30 MKI.
• The project supports the IAF's vision of “Minimal Human Intervention, Maximum Combat Potential” through greater automation and data-driven maintenance.
• The initiative is expected to enhance combat readiness, operational efficiency, and maintenance planning of the IAF fleet.
• The AI-based system will help identify engine issues in advance, reducing downtime and improving mission availability.
• The project was highlighted by Asim Tewari from IIT Bombay’s Centre for Machine Intelligence and Data Science (C-MInDS) and the Mechanical Engineering Department.
• IIT Bombay is also developing similar AI Digital Twin technologies for helicopters and radar systems.
• The AI Digital Twin framework can provide tailor-made automation solutions for various military platforms.
• The technology is expected to improve inventory management, optimize resource utilization, and increase the capacity utilization of military machines and weapon systems.
• The project will strengthen the preparedness of the armed forces and support 24×7 operational readiness during emergencies or war situations.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Union Minister Hardeep Singh Puri Launches Maruti Suzuki’s Flex-Fuel Passenger Car, a First for India

• Union Minister Hardeep Singh Puri launched India’s first passenger Flex-Fuel Vehicle (FFV), the Maruti Suzuki Wagon R, in New Delhi.
• Union Minister Nitin Gadkari launched Hero MotoCorp’s first flex-fuel motorcycles – Splendor+ Flex Fuel and HF Deluxe Flex Fuel.
• Flex-Fuel Vehicles (FFVs) can run on ethanol-petrol blends from E20 to E100.
• The Maruti Suzuki Wagon R FFV features an advanced Engine Control Unit (ECU), modified fuel-system components, optimized injection mapping, and a cold-start system.
• E85 has been designated as the mono-fuel standard for FFVs under Bureau of Indian Standards (BIS)
• NITI Aayog classifies ethanol-based Flex-Fuel Vehicles (FFVs) as Zero-Emission Vehicles (ZEVs) due to their near-zero particulate matter (PM) emissions.
• India's energy strategy is based on three pillars: Availability, Affordability, and Sustainability.
• India's domestic LPG production increased from 32 TMT per day to nearly 52 TMT per day.
• The Central Government reduced excise duty on petrol and diesel by ₹10 per litre to provide relief to consumers.
• Ethanol blending increased from less than 1.5% in 2013-14 to 20% in 2025-26, achieving the target five years ahead of schedule.
• Ethanol procurement increased from 38 crore litres in ESY 2013-14 to more than 1,040 crore litres.
• India's ethanol production capacity expanded from 421 crore litres (2014) to about 2,000 crore litres (2026).
• Increased ethanol usage has reduced crude oil imports, saved foreign exchange, lowered emissions, and increased farmers’ income.
• If 50% of new two-wheelers and four-wheelers become flex-fuel compliant, it will create additional demand for 311.8 crore litres of ethanol.
• Large-scale FFV adoption can generate ₹12,403 crore additional income for farmers.
• FFV adoption can reduce CO₂ emissions by 66.4 lakh metric tonnes.
• E85 fuel produces near-zero particulate matter (PM) emissions, helping address air pollution.
• The Government plans to establish 50–100 FFV-ready fuel retail outlets initially in the Delhi-NCR and Mumbai–Pune–Nagpur corridors.
• The number of FFV-ready outlets is targeted to reach nearly 500 by December 2026.
• The Government aims to expand the network to approximately 5,000 FFV-ready fuel retail outlets by the end of 2027.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Joins Project Glasswing and Obtains Access to Anthropic’s Claude Mythos AI

• India has joined Project Glasswing, a global cybersecurity initiative led by Anthropic PBC to strengthen cyber resilience and protect critical digital infrastructure.
• Through Project Glasswing, India will gain access to Claude Mythos AI, an advanced Artificial Intelligence (AI) model designed to identify software vulnerabilities and enhance cyber defences.
• The primary objective of Project Glasswing is to help participating countries improve cybersecurity resilience and safeguard critical digital infrastructure.
• Claude Mythos AI functions as an AI-powered security auditor capable of analysing large software codebases and detecting security vulnerabilities.
• Mythos AI can identify security weaknesses, generate remediation patches, and support faster vulnerability management.
• The AI model is capable of uncovering software flaws at a scale beyond traditional cybersecurity tools, including decades-old vulnerabilities.
• Project Glasswing expands cybersecurity cooperation among governments, international organizations, and major private-sector entities.
• Countries included in the initiative are Canada, Australia, New Zealand, France, Germany, Italy, Switzerland, Netherlands, Spain, Belgium, Sweden, India, Japan, South Korea, the United Kingdom, and the United States of America.
• International organizations participating in the initiative include North Atlantic Treaty Organization (NATO) and European Union Agency for Cybersecurity (ENISA).
• Major organizations associated with the initiative include Okta, Samsung Electronics, SK Hynix, SK Telecom, Euroclear, Intercontinental Exchange, and Society for Worldwide Interbank Financial Telecommunication (SWIFT).

CURRENT AFAFIRS: RANKING AND INDEX

Forbes Billionaires Ranking 2026: Elon Musk Tops List of World’s Richest People

• The latest Forbes Billionaires Ranking (June 2026) highlights the growing impact of Artificial Intelligence (AI), Cloud Computing, and technological innovation on global wealth creation.
• The top 10 richest individuals in the world collectively hold nearly USD 2.9 trillion in wealth.
• Technology entrepreneurs continue to dominate the rankings, with major wealth gains driven by advancements in Artificial Intelligence, cloud infrastructure, digital platforms, and space technology.
• Elon Musk retained the position of the world's richest person with a net worth of USD 822.3 billion.
• Larry Page and Larry Ellison secured the second and third positions, respectively.
• Jensen Huang, founder of Nvidia, emerged as one of the biggest beneficiaries of the Artificial Intelligence boom, ranking eighth globally.
• Bernard Arnault & Family is the highest-ranked non-American entry in the top 10 list.
• Warren Buffett remains among the world's wealthiest investors, securing the tenth position.

 About Forbes

• Founded: 1917
• Founder: B. C. Forbes
• Headquarters: Jersey City, U.S

CURRENT AFFAIRS : OBITUARIES

Former Lok Sabha Secretary-General and Eminent Constitutional Scholar Dr. Subhash C. Kashyap passed away at 97

• Dr. Subhash C. Kashyap, former Secretary-General of the Lok Sabha, eminent Constitutional Expert, renowned Author, and noted scholar, passed away in New Delhi at the age of 97 following a prolonged illness.

About Subhash C. Kashyap :

• Subhash C. Kashyap was born on 10 May 1929 in Chandpur, Bijnor District, present-day Uttar Pradesh (UP).
• He joined the Parliament Secretariat in 1953 and remained associated with parliamentary affairs for more than three and a half decades.
• He served as the Secretary-General of the Lok Sabha from 1983 to 1990, covering the 7th, 8th, and 9th Lok Sabhas.
• Dr.Kashyap made significant contributions to strengthening India’s Parliamentary Traditions, Legislative Procedures, and Constitutional Understanding.
• He was widely regarded as a “Living Encyclopedia of the Indian Constitution and Parliamentary System.”
• Dr. Kashyap was a member of the High-Level Committee on Simultaneous Elections (One Nation, One Election) headed by former President Ram Nath Kovind.
• The committee was tasked with preparing a Legal Framework for conducting Simultaneous Elections in India.
• He also served as a Member and Chairman of the Drafting Committee of the National Commission to Review the Working of the Constitution (NCRWC) during 2000–2002.
• He worked as an Honorary Constitutional Advisor on Panchayati Raj Reforms during the 2000s.
• In 2023, he was appointed to the High-Level Committee on One Nation, One Election.
• Dr. Kashyap authored more than 100 Books on the Indian Constitution, Political System, and Parliamentary Procedures.
• His books remain important reference material for Law Students, Political Science Students, and Civil Services Aspirants.
• In 2015, he was conferred the Padma Bhushan, India's Third-Highest Civilian Award, in the field of Public Affairs.

Daily CA- One- Liner: June 9

• Prime Minister Narendra Modi inaugurated the new terminal building of NAMO Airport, Daman
• On World Environment Day 2026 (5 June), Union Minister for Environment, Forest and Climate Change Bhupender Yadav and Delhi Chief Minister Rekha Gupta inaugurated 18 Namo Oxygen Parks across Delhi.
• Union Minister Dr. Jitendra Singh inaugurated the Regional Meteorological Centre (RMC) in Jammu
• India has launched E85 fuel, a petrol blend containing approximately 85% ethanol and 15% petrol, to reduce dependence on imported crude oil and promote cleaner transportation
• The Panchayat Advancement Index (PAI), a flagship initiative of the Ministry of Panchayati Raj, has won the Gold Award at the National e-Governance Awards 2026
• The Uttar Pradesh Sangeet Natak Akademi (SNA) honoured 51 distinguished artistes at the SNA Samman Ceremony 2026 held at Gandhi Auditorium, Jan Bhavan, Lucknow
• The latest Forbes Billionaires Ranking (June 2026) highlights the growing impact of Artificial Intelligence (AI), Cloud Computing, and technological innovation on global wealth creation.
• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹41.80 lakh on Canara Bank on 5 June 2026.
• Pension Fund Regulatory and Development Authority (PFRDA), the statutory regulator under the Ministry of Finance (MoF), launched the ‘StAR NPS’ platform to simplify and streamline the National Pension System (NPS) subscriber registration process.
• The Reserve Bank of India (RBI) conducted the 61st and 2nd Bi-Monthly Monetary Policy Committee (MPC) Meeting of Financial Year 2026-27 (FY27) from 3–5 June 2026.
• The Reserve Bank of India (RBI) plans to expand Central Bank Digital Currency (CBDC) pilot projects in FY27 by introducing new Domestic and Cross-Border Use Cases.
• The Reserve Bank of India (RBI) has proposed a one-hour cooling-off period for digital transactions exceeding ₹10,000 to reduce online payment frauds.
• The volume of ₹500 denomination banknotes in circulation increased by 11.2% during FY26, rising from 6,34,458 lakh pieces in FY25 to 7,05,482 lakh pieces.
• The Central Government has re-appointed Shri Swaminathan Janakiraman as Deputy Governor of the Reserve Bank of India (RBI) for a period of two years.
• The President of India appointed Six Additional Judges of the Bombay High Court as Permanent Judges under the provisions of the Constitution of India.
• The Indian Air Force (IAF) has signed three contracts with Indian Institute of Technology Bombay (IIT Bombay) to develop an Artificial Intelligence (AI)-based Health Index System for the engines of Su-30MKI fighter aircraft undergoing mid-life maintenance.
• Union Minister Hardeep Singh Puri launched India’s first passenger Flex-Fuel Vehicle (FFV), the Maruti Suzuki Wagon R, in New Delhi.
• India has joined Project Glasswing, a global cybersecurity initiative led by Anthropic PBC to strengthen cyber resilience and protect critical digital infrastructure.
• Dr. Subhash C. Kashyap, former Secretary-General of the Lok Sabha, eminent Constitutional Expert, renowned Author, and noted scholar, passed away in New Delhi at the age of 97 following a prolonged illness.