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CURRENT AFFAIRS : BANKING, FINANCE& BUSINESS

Bank of Baroda and HDFC Bank Cut Lending Rates by Up to 50 bps and 10 bps   

• Bank of Baroda (BoB) reduced its repo-linked lending rate (RLLR) by 50 basis points (bps), effective from June 7, 2025, following the RBI’s policy repo rate cut.
• BoB’s new RLLR stands at 8.15%.
• HDFC Bank cut its marginal cost of funds-based lending rates (MCLR) by 10 basis points across all tenures, effective June 7, 2025.
• New HDFC MCLR rates:
• Overnight and one-month rate:90% (down 10 bps)
• Three-month rate:95% (down 10 bps)
• Six-month and one-year rate:05% (down 10 bps)
• Two-year and three-year rate: reduced from 9.20% to 9.10%
• The RBI’s Monetary Policy Committee (MPC), headed by Governor Sanjay Malhotra, voted 5-1 to cut the repo rate by 50 basis points to 5.5%.
• RBI also reduced the Cash Reserve Ratio (CRR) by 100 basis points to 3%, releasing about ₹2.5 lakh crore liquidity into the banking system.
• This move aims to boost the economy by making more money available for lending.
• In 2025, RBI has cut interest rates by a total of 100 basis points, with previous cuts of 25 bps each in February and April.
• The recent rate cut is the first major rate reduction since May 2020.

Recent News:

• Bank of Baroda (BoB) unveiled a new retail term deposit scheme, bob Square Drive Deposit Scheme, with attractive interest rates for differentage groups.

About Bank of Baroda (BoB):

• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: "India’s International Bank"

About HDFC Bank:

• Founded: 1994
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Sashidhar Jagdishan
• Tagline: "We understand your world"

Finance Minister Nirmala Sitharaman Chairs 6th Governing Council Meeting of National Investment and Infrastructure Fund in New Delhi

• Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the 6th Governing Council (GC) meeting of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi.

Key Highlights :

• The GC appreciated NIIF’s evolution as a sovereign-linked asset manager and its success in building strong partnerships with major investors, including:
• Sovereign wealth funds: Abu Dhabi Investment Authority (ADIA),
• Pension funds: AustralianSuper, Ontario Teachers’ Pension Plan, Canada Pension Plan Investment Board (CPPIB)
• Multilateral Development Banks: Asian Infrastructure Investment Bank (AIIB), Asian Development Bank (ADB), New Development Bank (NDB)
• Strategic government partners: Japan Bank for International Cooperation (JBIC)
• NIIF’s role in mobilising capital into infrastructure and key sectors aligned with national priorities was appreciated.
• NIIF’s Assets Under Management (AUM) increased to over ₹30,000 crore, catalysing total capital of ₹1,17,000 crore.
• The GC received updates on NIIF’s overall strategy, investment status, sector focus, performance, and future plans across four active funds:

1. Fund for Infrastructure (Master Fund)
2. Fund of Funds (Private Markets Fund)
3. Fund for Climate and Sustainability & India-Japan Corridor (India-Japan Fund)
4. Fund focused on Growth Equity (Strategic Opportunities Fund)

• Both the Master Fund and Private Markets Fund are 100% committed, with investments in greenfield assets like ports, logistics, airports, and data centres.
• Progress noted on the upcoming Private Markets Fund II (PMF II) with a target corpus of $1 billion, which has successfully onboarded private investors and is nearing first closing.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary, Dr. Bhagwat Kishanrao Karad

AU Small Finance Bank joins hands with International Finance Corporation to integrate climate risk into core banking operations

• AU Small Finance Bank (AU SFB) has partnered with the International Finance Corporation (IFC) to incorporate climate risk considerations into its core banking framework.
• The initiative aligns with evolving regulatory expectations and global standards to enhance the bank’s resilience to climate-related financial risks.
• AU SFB will embed environmental factors into its governance, strategic planning, risk management, and ESG disclosures.
• IFC will support AU SFB in quantifying, disclosing, and managing climate risks, following frameworks like:Task Force on Climate-related Financial Disclosures (TCFD), Reserve Bank of India’s climate guidelines
• The program has three key components:

1. Physical Risk Assessment: Evaluates exposure of AU SFB’s loan portfolio to natural hazards (floods, droughts, extreme weather) using IPCC climate scenarios through 2100.
2. Transition Risk Assessment: Analyzes financial risks from policy, market, and technological changes as India transitions to a low-carbon economy, based on NGFS scenarios.
3. Financed Emissions Calculation: Measures financed emissions (Scope 3, Category 15) across sectors like corporate loans, SME finance, real estate, sovereign bonds for FY 2024–25 and FY 2025–26, using the Partnership for Carbon Accounting Financials methodology.

• IFC is collaborating with climate risk solutions firm StepChange to implement the project.
• The initiative is supported by the Government of Japan.

Recent News:

• According to a regulatory filing by AU Small Finance Bank, the central bank issued a letter on January 3, 2025, permitting HDFC Bank and its affiliated companies (including HDFC Mutual Fund, HDFC Life Insurance, HDFC Pension Management, HDFC ERGO General Insurance, and HDFC Securities) to collectively acquire up to 9.5 percent of AU SFB's paid-up share capital or voting rights.

About AU Small Finance Bank Limited :

• Founded : 1996
• MD &CEO : Sanjay Agarwal

About IFC :

• Formation : July 20, 1956
• Headquarters :Washington, D.C., United States
• Managing Director :Makhtar Diop
• Membership : 186 countries

State Bank of India Remits ₹8,076.84 Crore Dividend to Government for FY25

• The State Bank of India (SBI) paid a dividend of ₹8,076.84 crore to the Government of India for the financial year 2024-25.
• The dividend cheque was handed over to Finance Minister Nirmala Sitharaman by SBI Chairman C.S. Setty.
• The dividend per share declared by SBI for 2024-25 is ₹15.90, which is higher than the previous year's dividend of ₹13.70 per equity share.
• SBI's dividend payout to the government increased from ₹6,959.29 crore in 2023-24 to ₹8,076.84 crore in 2024-25.
• SBI reported a record net profit of ₹70,901 crore for 2024-25, up from ₹61,077 crore in 2023-24.
• The bank's net profit increased by 16% compared to the previous financial year.

Recent News:

• SBI has revived its special FD scheme, 'Amrit Vrishti,' starting from April 15, 2025, with revised interest rates. Initially launched in July 2024 and concluded in March 2025, the scheme offers attractive rates specifically for senior and super-senior citizens, aiming to support their financial security

About State Bank of India (SBI):

• Founded Year: 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Challa Sreenivasulu Setty
• Slogan: "The Banker to Every Indian"

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Ministry of Minority Affairs Marks 11 Years of Seva, Good Governance, and Welfare

• The Ministry of Minority Affairs (MoMA) commemorated 11 years of impactful governance and welfare reforms under the Modi Government with a milestone celebration at its headquarters.
• The event, chaired by Chandra Shekhar Kumar, showcased the Ministry’s transformation into a digitally empowered, citizen-centric institution, reinforcing its vision for inclusive development aligned with ViksitBharat@2047.

Key Highlights:

• Complete Digitization of Schemes: All welfare schemes have transitioned to dedicated digital portals, enabling real-time beneficiary access and end-to-end transparency from application to fund disbursal.
• Launch of UMEED Central Portal (June 6, 2025): A unified digital platform offering single-window access to multiple minority welfare schemes, with tools for eligibility checks, application tracking, and citizen feedback.
• Waqf Amendment Act, 2025: A landmark reform aimed at strengthening Waqf property governance, enhancing transparency, and reinforcing the institutional framework. Developed through Joint Parliamentary Committee (JPC) deliberations.
• Third-Party Audits for All Schemes: Institutionalized independent reviews and performance audits to ensure accountability, fund utilization, and evidence-based improvements in scheme execution.
• Consultative and Inclusive Policymaking: The Ministry has consistently involved states, stakeholders, and community voices to ensure that national policies reflect local realities and community needs.
• Formulation of Central Rules under the Waqf Act: Ongoing efforts to establish a uniform regulatory framework across India to improve legal clarity and governance efficiency in managing Waqf assets.
• Pledge for 2047: Officials pledged to uphold values of integrity, inclusivity, and innovation, reaffirming their commitment to build a developed and equitable India by 2047, leaving no community behind.

World Accreditation Day 2025 Celebrated by QCI with Focus on MSMEs

• The Quality Council of India (QCI) celebrated World Accreditation Day 2025 at the India Habitat Centre, New Delhi.
• QCI, through its boards—NABL (National Accreditation Board for Testing and Calibration Laboratories) and NABCB (National Accreditation Board for Certification Bodies)—works with global bodies like ILAC and IAF to align India’s quality standards with international norms.

Key Highlights:

• Revamped NABL Portal launched to streamline accreditation and improve digital access for labs and MSMEs.
• Gunvatta Samarpan initiative introduced to encourage public pledges to accredited standards.
• The theme for 2025: “Accreditation: Empowering Small and Medium Enterprises (SMEs)”.

Technical and CEO Sessions:

Discussions focused on accreditation's benefits in:

• Strengthening diagnostic and manufacturing infrastructure.
• Enabling international trade and sustainable practices.
• Supporting third-party inspections and net-zero goals.

India’s First E-Waste Recycling Park to Be Set Up in Delhi

• The Delhi government has announced the establishment of India’s first electronic waste (e-waste) recycling eco park at Holambi Kalan, North Delhi.
• This initiative aims to modernize e-waste management, promote green jobs, and foster a circular economy.

Key Highlights:

• Location & Model: The eco park will span 11.4 acres and be developed under a DBFOT (Design, Build, Finance, Operate, Transfer) model via a Public-Private Partnership (PPP).
• Annual Capacity: It will process up to 51,000 tonnes of e-waste, covering all 106 categories listed under the E-Waste Management Rules, 2022.
• Revenue & Employment: Projected to generate over ₹350 crore in revenue and create 1,000+ green jobs.
• Infrastructure Features:
  • Zones for dismantling, refurbishing, and plastic recovery
  • Second-hand electronics market
  • Training centres for skill development
  • Facilities to rehabilitate informal recyclers
• Timeline: The park is expected to be completed in 18 months.

Broader Impact:

• Aims to formalize the informal recycling sector and ensure safer working conditions.
• Promotes sustainable urban infrastructure, resource recovery, and reduced landfill use.
• Aligns with India’s climate goals and Sustainable Development Goals (SDGs).
• Expected to serve as a national model for e-waste management and circular economy practices.

Cabinet Approves ₹60,000 Crore Scheme to Upgrade ITIs and Set Up Skill Centres

• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the National Scheme for ITI Upgradation and the Establishment of Five National Centres of Excellence for Skilling.

Key Highlights

• The scheme, part of Budget 2024–25 and 2025–26, aims to upgrade 1,000 Government ITIs and strengthen five National Skill Training Institutes (NSTIs) in Bhubaneswar, Chennai, Hyderabad, Kanpur, and Ludhiana.
• It will skill 20 lakh youth over five years, train 50,000 instructors, and promote industry-aligned, high-tech trades.
• Funding includes contributions from the Centre, States, Industry, and co-financing from the Asian Development Bank and the World Bank.
• Financial Outlay and Funding:
• Total Outlay: ₹60,000 crore
• Central Share: ₹30,000 crore
• State Share: ₹20,000 crore
• Industry Share: ₹10,000 crore
• Co-financing: 50% of Central share by Asian Development Bank and World Bank (equally)
• Adopting an industry-led SPV model, the scheme focuses on modern infrastructure, deep industry linkages, and addressing workforce gaps in sectors like electronics, automotive, and renewable energy, driving forward the vision of Viksit Bharat@2047.

India’s First Vistadome Jungle Safari Train Launched in Uttar Pradesh

• Uttar Pradesh has launched India’s first jungle safari train with a Vistadome coach, offering panoramic views of dense forests and wildlife.
• The train connects Dudhwa Tiger Reserve and Katarniaghat Wildlife Sanctuary, promoting eco-tourism and biodiversity awareness.

Key Highlights:

Special Features:

• Transparent rooftop & large glass windows for immersive jungle views
• Rotating plush seats & luxurious interiors
• Covers Dudhwa, Katarniaghat&Kishanpur forest zones

Eco-Tourism Push:

• Part of the “One Destination, Three Forests” initiative
• Weekly student tours & blogger FAM trips planned
• Boosts local employment through homestays, guides & transport services

RECENT NEWS

• In a move to further promote local craftsmanship and entrepreneurship, the Uttar Pradesh government has added 12 new products under its flagship One District One Product (ODOP) scheme, increasing the total to 74 products across the state’s 75 districts.
• In a landmark decision aimed at supporting the reintegration of military-trained youth into civil services, the Uttar Pradesh Cabinet on June 3, 2025, approved a proposal granting 20% horizontal reservation to former Agniveers in direct recruitment for posts in the Uttar Pradesh Police, including roles such as Constable, PAC, Mounted Constable, and Fireman.

CURRENT AFFAIRS : INTERNATIONAL NEWS

France and Brazil Unveil Plan to Boost Ocean-Based Climate Initiatives

• On the first day of the Third UN Ocean Conference (UNOC3), France and Brazil launched the Blue Nationally Determined Contributions (Blue NDC) Challenge.
• The initiative aims to place the ocean at the center of global climate action, especially ahead of COP30, which will be hosted by Brazil in November 2025.
• Participating Countries:Eight inaugural countries joined the initiative: Australia, Fiji, Kenya, Mexico, Palau, Seychelles, along with Brazil and France.
• These countries have committed to include ocean-based solutions in their NDCs (Nationally Determined Contributions) under the Paris Agreement.

Goals of the Blue NDC Challenge:

• Promote ocean-focused climate action.
• Emphasize ocean-based solutions for emission reduction and climate resilience.
• Encourage all countries to integrate ocean strategies into their national climate plans.

Support and Endorsements:

• The initiative is supported by:
  • Ocean Conservancy
  • Ocean and Climate Platform
  • World Resources Institute (WRI) via Ocean Resilience and Climate Alliance (ORCA)
  • WWF-Brazil
    

Significance for Brazil:

• 40% of Brazil's territory is oceanic.
• Brazil hosts significant marine ecosystems like:
  • Only coral reefs in the South Atlantic
    
  • World’s largest contiguous mangrove belt along the Amazon coast

About France :

• President :Emmanuel Macron
• Prime Minister :François Bayrou
• Capital :Paris

About Brazil :

• President :Lula da Silva
• Capital :Brasília
• Currency :Real

CURRENT AFFAIRS: AWARDS AND HONOURS

Life Insurance Corporation Enters Guinness World Records for Highest Single-Day Insurance Sales

• The Life Insurance Corporation of India (LIC) has made history by entering the Guinness World Records for selling the highest number of life insurance policies in a single day.
• Under the “Mad Million Day” campaign, over 5.88 lakh policies were sold in 24 hours by 4.52 lakh agents across the country.
• The record was officially recognized on May 25, 2025.
• Spearheaded by LIC Chairman Siddhartha Mohanty, the initiative showcased LIC’s unmatched agent network, public trust, and its leadership in India’s insurance sector.

Pulitzer Prizes 2025: The New York Times Leads with Four Awards

• The Pulitzer Prizes 2025 for journalism were announced, recognizing outstanding contributions to public service, investigative journalism, photography, and storytelling.

Key Highlights:

• The New York Times won 4 awards, including:
• Breaking News Photography (Doug Mills – Trump assassination attempt)
• International Reporting (Sudan conflict)
• The Washington Post: Won for Breaking News Reporting on Trump assassination attempt with forensic precision.
• Reuters: Honored in Investigative Reporting for its deep-dive series “Fentanyl Express.”
• Wall Street Journal: Awarded National Reporting for exposing Elon Musk’s personal, political, and business controversies.

The New Yorker: Won 3 prizes:

• Commentary (Gaza war essays – Mosab Abu Toha)
• Feature Photography (Syrian prison images – Moises Saman)
• Audio Reporting (In the Dark podcast)

Other Notable Winners:

• Public Service: Kavitha Surana & team – maternal deaths due to unclear abortion laws.
• Explanatory Reporting: NYT – impact of U.S. militia support in Afghanistan.
• Local Reporting: Baltimore Banner & NYT – fentanyl crisis in older Black men.
• Feature Writing: Mark Warren (Esquire) – pastor-mayor suicide story.
• Editorial Writing: Houston Chronicle – deadly train crossings.
• Illustrated Reporting: Ann Telnaes (Washington Post) – political illustrations.
• Criticism: Alexandra Lange (Bloomberg CityLab) – family-friendly urban design.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lieutenant General Rajiv Ghai, who Pakistan contacted for ceasefire, appointed Deputy Chief of Army Staff

• Lieutenant General Rajiv Ghai, who Pakistan contacted for a ceasefire during India’s strikes on Pakistani airbases in Operation Sindoor, has been appointed as the Deputy Chief of Army Staff (Strategy)
• Gen Ghai will continue to serve in his current role as Director General of Military Operations (DGMO), the Ministry of Defence announced June 9.

Who are DGMOs and Deputy Chief of Army Staff (Strategy)?

• The DGMOs are senior officials of the Indian Army, usually of the rank of Lieutenant General, responsible for overseeing all military operations in India and along its borders.
• Meanwhile, Lt. General Ghai's new role — Deputy Chief (Strategy) — is a relatively new but a critical position within the Indian Army, created to oversee key branches such as the Operations and Intelligence Directorates.
• It is regarded as one of the most significant appointments in the Army’s strategic command structure.

About Lieutenant General Rajiv Ghai :

• Lieutenant General Rajiv Ghai took charge as the Director General of Military Operations (DGMO) on October 25, 2024.
• Before his current role, Lt Gen Ghai served as the General Officer Commanding (GOC) of the Chinar Corps, where he led critical counter-insurgency operations in Jammu and Kashmir.
• His leadership in high-pressure environments has earned him wide recognition
• On June 4, Lt Gen Ghai was also awarded the Uttam Yudh Seva Medal (UYSM) during the Defence Investiture Ceremony 2025 (Phase-II), recognising his distinguished service.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation Transfers 9 Defence Technologies To 10 Indian Firms

• Vehicles Research & Development Establishment (VRDE), a lab under Defence Research and Development Organisation (DRDO), has transferred technologies of 9 systems to 10 industries.
• The aim is to establish a robust defence industrial ecosystem with participation from both public and private sectors.
• The licensing agreements were handed over in the presence of Samir V Kamat, Secretary, Department of Defence R&D and Chairman, DRDO, during an event at VRDE, Ahmednagar, Maharashtra.

Key Highlights :

Key Recipients and Products:

• Bharat Electronics Ltd (BEL):
  • To manufacture CBRN Recce Vehicle (Tracked) Mk-II, which detects CBRN (Chemical, Biological, Radiological, Nuclear)
  • Also received the deal for Expandable Mobile Shelter, offering field working space.
• Dass Hitachi Ltd and Goma Engineering Pvt Ltd:
  • Got contracts to produce Multi-purpose Decontamination Systems for vehicles, equipment, personnel, and terrain.
• Bharat Forge:
  • Licensed to produce Mounted Gun System (MGS) using 155mm/52 calibre ATAGS armament on an 8x8 high mobility vehicle (developed by ARDE).
• BEML Ltd and Metaltech Motor Bodies Pvt Ltd:
  • Contracted for Anti-Terrorist Vehicle (Tracked)
• Tata Advanced Systems Ltd:
  • Licensed to produce Vajra Riot Control Vehicle, for use by police and CAPFs like CRPF.
• Tata International Vehicle Applications and SDR Auto Pvt Ltd:
  • Awarded production of 70T Full Trailer Tank Transporter for MBT Arjun Mk-1A.
• BEML Ltd and Dass Hitachi Ltd:
  • Given contracts to manufacture Unit Maintenance Vehicles and Mine Plough Vehicles for MBT Arjun.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Railways and BHASHINI Partner to Enable Multilingual AI Services Nationwide

• In a landmark move supporting the Digital India initiative, Indian Railways has signed a Memorandum of Understanding (MoU) with BHASHINI (Digital India Bhashini Division) to integrate multilingual AI solutions into key platforms such as National Train Enquiry System(NTES) and RailMadad.
• This initiative will enable citizens to access railway services in 22 Indian languages, significantly enhancing digital inclusion and accessibility.

Key Highlights

• Multilingual AI Integration Across Platforms
  The collaboration will embed language AI into the National Train Enquiry System (NTES), RailMadad, railway websites, mobile applications, kiosks, and call centers.
• Advanced BHASHINI Technologies to be Used
  • Automatic Speech Recognition (ASR): Converts spoken language into text in real time.
  • Text-to-Text Translation: Instantly translates information between Indian languages.
  • Text-to-Speech (TTS): Reads out text in natural, regional accents.
  • Optical Character Recognition (OCR): Converts printed regional text into digital format.

Implementation Strategy

1. Multilingual Chatbots and Voice Assistants
   Intelligent digital support systems will assist passengers in their native languages for queries, ticket booking, and complaints.
2. AI-Enabled Interfaces at Railway Counters
   Interactive screens and devices will support regional languages for easier access to information and services.
3. Scalable Infrastructure
   Services will be deployed using both cloud-based and on-premise solutions to ensure smooth operations across India’s vast railway network.
4. Real-Time Voice Interaction Capabilities
   Passengers will be able to communicate with systems using voice commands, enhancing ease of use.
5. Pilot Programs and Technical Workshops
   Initial rollouts in select regions will be accompanied by collaborative technical workshops to gather feedback and improve the system.

CURRENT AFFAIRS: SPORTS NEWS

MS Dhoni Inducted into ICC Hall of Fame, Becomes 11th Indian Cricketer to Receive the Honour

• Mahendra Singh Dhoni, former India captain and one of cricket’s most celebrated figures, was officially inducted into the ICC Hall of Fame during a prestigious ceremony held in London.
• With this recognition, Dhoni becomes the 11th Indian cricketer and 9th Indian male player to be honoured by the International Cricket Council for his exceptional service to the game.

Key Highlights:

Historic Captaincy Feats:
Dhoni is the only captain in world cricket to win all three major ICC trophies:

• 2007 ICC T20 World Cup
• 2011 ICC ODI World Cup (India’s first in 28 years)
• 2013 ICC Champions Trophy (India remained unbeaten)

Stellar ODI Record:

• Played 350 ODIs, scoring 10,773 runs at an average of 50.57
• Registered 10 centuries and 73 fifties
• Widely regarded as one of the best finishers in limited-overs cricket

Test Career Milestones:

• Played 90 Tests, scoring 4,876 runs with 6 centuries
• Achieved 294 dismissals in Tests and 450+ in ODIs as a wicketkeeper
• Known for his sharp glove work and agility behind the stumps

Post-Retirement Contributions:
Since retiring from international cricket in August 2020, Dhoni has continued to play and mentor in the Indian Premier League (IPL) for Chennai Super Kings (CSK), contributing to the growth of young talent.

Hall of Fame 2025 – Other Inductees:
Alongside Dhoni, the 2025 ICC Hall of Fame class includes:

• Matthew Hayden (Australia)
• Daniel Vettori (New Zealand)
• Hashim Amla and Graeme Smith (South Africa)
• Sana Mir (Pakistan)
• Sarah Taylor (England)

Aravindh Chithambaram Triumphs at Stepan Avagyan Memorial via Tiebreak

• Indian Grandmaster Aravindh Chithambaram secured first place in the 6th Stepan Avagyan Memorial round-robin in Jermuk, Armenia, finishing on 6.5/9 alongside compatriot R. Praggnanandhaa but prevailing on tiebreak.
• His unbeaten run and the superior strength of his defeated opponents under the Sonneborn-Berger system earned him the title.

Key Highlights:

• Tournament Format & Score: 10-player round-robin; Aravindh scored 6.5 points, winning 4 and drawing 5 games, remaining unbeaten.
• Tiebreak Method: The Sonneborn-Berger system was used—points weighted by opponents’ scores—to break the tie with Praggnanandhaa.
• Decisive Final Round: Playing Black in round 9, Aravindh defeated Armenia’s Aram Hakobyan, while Praggnanandhaa beat Robert Hovhannisyan.
• Praggnanandhaa’s Performance: Also scored 6.5/9 with a strong finish, but edged out by the tiebreak criteria.
• 2025 Form: This win follows Aravindh’s victory at the Prague Chess Festival Masters, underlining his excellent international form.
• Tournament Prestige: The Stepan Avagyan Memorial has grown into a major international event, drawing top grandmasters and producing highly competitive games.

Nicholas Pooran Announces Shock Retirement from International Cricket at 29

• Nicholas Pooran, the dynamic left-handed batter and former West Indies white-ball captain, announced his retirement from international cricket bringing to an end a record-setting career that saw him become the Caribbean’s leading T20I performer.

Key Highlights:

• Most-Capped T20I Player: Pooran finishes with 106 T20Is, amassing 2,275 runs at an average of 26.14 and a strike rate of 136.39, making him West Indies’ all-time leading T20 run-scorer.
• Stellar ODI Record: In 61 ODIs, he scored 1,983 runs at an average of 39.66 and a strike rate of 99.15, despite never featuring in Test cricket.
• Private Decision: Citing “much thought and reflection,” Pooran did not specify reasons for his early exit; retirement follows his withdrawal from the current England T20I series and a full IPL season with Lucknow Super Giants.
• Franchise Focus: He will continue in global T20 leagues, including Major League Cricket (USA), The Hundred (England), CPL, ILT20 (UAE), and the IPL.
• Record Six-Hitting: In 2024, he hit a record 170 sixes, and in IPL 2025 tallied 524 runs at a strike rate of 196.25, underscoring his status as a premier finisher.
• Impact on West Indies: His retirement is a significant loss ahead of the 2026 ICC T20 World Cup, where he was expected to play a senior leadership role.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Play: June 11

• The International Day of Play is observed every year on June 11, this day calls upon individuals, communities, and governments to protect, encourage, and prioritize play across all stages of life.

Key Highlights:

Date of Observance: Celebrated annually on June 11, the day offers a unified global platform to raise awareness about the value of play and push for its inclusion in education, community programs, and public policies.

Theme for 2025 – “Choose Play – Every Day”: The 2025 theme serves as a strong reminder to integrate play into daily life, emphasizing that play is not just for children, but a necessity for all ages.

Historical Background:

• First marked on June 11, 2024, the International Day of Play was launched through a collaboration of child advocacy groups, educational bodies, and global organizations to spotlight play as a key developmental and social pillar.
• UN Recognition: Play is protected under Article 31 of the United Nations Convention on the Rights of the Child (1989), affirming every child’s right to leisure and recreational activity.
• Significance: The day highlights that play is a fundamental human need, not a luxury, and is vital for building resilient, inclusive, and thriving societies.

Daily CA One- Liner: June 11

• The Ministry of Minority Affairs (MoMA) commemorated 11 years of impactful governance and welfare reforms under the Modi Government with a milestone celebration at its headquarters
• The Quality Council of India (QCI) celebrated World Accreditation Day 2025 at the India Habitat Centre, New Delhi
• The Delhi government has announced the establishment of India’s first electronic waste (e-waste) recycling eco park at Holambi Kalan, North Delhi
• The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the National Scheme for ITI Upgradation and the Establishment of Five National Centres of Excellence for Skilling
• Uttar Pradesh has launched India’s first jungle safari train with a Vistadome coach, offering panoramic views of dense forests and wildlife
• The Life Insurance Corporation of India (LIC) has made history by entering the Guinness World Records for selling the highest number of life insurance policies in a single day.
• The Pulitzer Prizes 2025 for journalism were announced, recognizing outstanding contributions to public service, investigative journalism, photography, and storytelling
• In a landmark move supporting the Digital India initiative, Indian Railways has signed a Memorandum of Understanding (MoU) with BHASHINI (Digital India Bhashini Division) to integrate multilingual AI solutions into key platforms such as National Train Enquiry System(NTES) and RailMadad
• Mahendra Singh Dhoni, former India captain and one of cricket’s most celebrated figures, was officially inducted into the ICC Hall of Fame during a prestigious ceremony held in London
• Indian Grandmaster Aravindh Chithambaram secured first place in the 6th Stepan Avagyan Memorial round-robin in Jermuk, Armenia, finishing on 6.5/9 alongside compatriot R. Praggnanandhaa but prevailing on tiebreak
• Nicholas Pooran, the dynamic left-handed batter and former West Indies white-ball captain, announced his retirement from international cricket bringing to an end a record-setting career that saw him become the Caribbean’s leading T20I performer.
• The International Day of Play is observed every year on June 11, this day calls upon individuals, communities, and governments to protect, encourage, and prioritize play across all stages of life
• Bank of Baroda (BoB) reduced its repo linked lending rate (RLLR) by 50 basis points (bps), effective from June 7, 2025, following the RBI’s policy repo rate cut.
• Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, chaired the 6th Governing Council (GC) meeting of the National Investment and Infrastructure Fund Limited (NIIF) in New Delhi.
• AU Small Finance Bank (AU SFB) has partnered with the International Finance Corporation (IFC) to incorporate climate risk considerations into its core banking framework.
• The State Bank of India (SBI) paid a dividend of ₹8,076.84 crore to the Government of India for the financial year 2024-25.
• On the first day of the Third UN Ocean Conference (UNOC3), France and Brazil launched the Blue Nationally Determined Contributions (Blue NDC) Challenge.
• Lieutenant General Rajiv Ghai, who Pakistan contacted for a ceasefire during India’s strikes on Pakistani airbases in Operation Sindoor, has been appointed as the Deputy Chief of Army Staff (Strategy)
• Vehicles Research & Development Establishment (VRDE), a lab under Defence Research and Development Organisation (DRDO), has transferred technologies of 9 systems to 10 industries.