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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

CreditAccess Grameen Secures $100 Million Multi-Currency Social Loan Facility

• CreditAccess Grameen, the largest NBFC-MFI (Non-Banking Finance Company – Micro Finance Institution) in India, secured a $100 million multi-currency syndicated social loan facility.
• The loan qualifies as an External Commercial Borrowing (ECB) under the automatic route of the Reserve Bank of India (RBI).
• The facility was initially launched at $70 million in November 2024 but was oversubscribed and increased to $100 million.
• The loan was raised from seven banks, predominantly from South Asia and the Far East.
• It is the first of its kind ECB facility in India’s microfinance sector, comprising Japanese yen and US dollar
• The borrowing cost is highly competitive, comparable to domestic borrowing rates, and lower than the company’s average cost of borrowing.
• The company aims to increase foreign borrowings to 25-30% by FY28.
• The transaction is the second syndicated social facility led by Standard Chartered Bank for CreditAccess Grameen.
• Previously, in 2023, Standard Chartered Bank was the sole mandated lead arranger for a $200 million syndicated ECB for the company.

About CreditAccessGrameen :

• Founded : 1999
• Headquarters : Bangalore, Karnataka, India
• Managing Director : Udaya Kumar Hebbar
• CEO : Ganesh Narayanan
• CreditAccess Grameen Limited is a listed company in the National Stock Exchange and Bombay Stock Exchange.

Paytm Launches Custom UPI ID Feature to Attract New Users

• Paytm has introduced the ability to create custom UPI IDs to strengthen privacy and security and boost onboarding of new UPI users in India.
• The new feature allows users to personalise their UPI handles, removing the need to create UPI IDs linked to mobile numbers.
• This move follows the lifting of restrictions by NPCI last year, which allowed Paytm to onboard new UPI users again.

Key Highlights :

• Recent features introduced by Paytm to attract more users include:
• Hide and unhide transactions for enhanced privacy.
• Monthly summaries to help users track spending.
• Downloadable UPI statements in PDF and Excel formats.
• Unified bank balance view across all linked accounts on one dashboard.
• Personalisation of UPI IDs is currently available for users linked with Yes Bank and Axis Bank only; more banks will be supported soon.
• Paytm is also expanding its UPI services internationally, allowing Indian travellers to use UPI in countries such as:UAE, Singapore, France, Mauritius, Bhutan, Sri Lanka, and Nepal.
• Additional recent features introduced by Paytm:
• Spending categorisation to manage finances better.
• ‘Receive Money’ widget on the home screen for real-time payment alerts.
• ‘Scan & Pay’ widget for quick QR code payments.
• Auto top-up for Paytm UPI Lite users enabling smooth low-value payments up to 5,000.

Recent News:

• In March 2025, Paytm Money, a wholly-owned subsidiary of One97 Communications Ltd (OCL), was granted a Certificate of Registration as a research analyst by the Securities and Exchange Board of India (Sebi).

About Paytm:

• Headquarters: Noida, Uttar Pradesh, India
• Founded: 2010
• Chairman & CEO: Vijay Shekhar Sharma

World Bank Reports Extreme Poverty in India Falls to 5.3% in 2022-23  

• Extreme poverty rate in India declined sharply from 27.1% in 2011-12 to 5.3% in 2022-23.
• The World Bank revised the extreme poverty threshold upwards to $3 per day (from $2.15 in 2021 prices) due to inflation between 2017 and 2021.
• At the revised threshold of $3 per day (2021 PPP), India’s poverty rate was 5.44% in 2024, with about 54.7 million people living under this line.
• The extreme poverty rate at the lower extreme ($2.15/day) decreased from 16.2% in 2011-12 to 2.3% in 2022-23.

Key Highlights :

• The poverty rate at the lower middle-income country (LMIC) line declined by 33.7 percentage points over the decade.
• Free and subsidized food transfers were key in supporting poverty reduction.
• The rural-urban poverty gap narrowed significantly:
• Rural extreme poverty dropped from 18.4% to 2.8%
• Urban extreme poverty dropped from 10.7% to 1.1%
• Rural-urban gap shrank from 7.7 to 1.7 percentage points (a 16% annual decline).
• The five most populous states account for 54% of the extremely poor population in India.
• As of FY25, India’s real GDP was about 5% below the pre-pandemic trend.
• Economic growth is expected to gradually recover by 2027-28, assuming global uncertainties resolve.
• There are significant downside risks including trade tensions that could affect exports and investment.
• The current account deficit is expected to average around 1.2% of GDP over FY26-28, supported by capital inflows.
• Foreign exchange reserves are projected to remain stable at about 16% of GDP.
• India has lifted 171 million people out of extreme poverty between 2011-12 and 2022-23.

About World Bank:

• The World Bank consists of 5 institutions: The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID).
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga
• Members:189 countries

World Bank Lowers India’s Growth Forecast by 40 Basis Points to 6.3%

• The World Bank has lowered India’s growth forecast by 40 basis points (0.4%) for FY26 to 6.3%, but India remains the fastest-growing major economy globally.
• The downgrade is due to weaker exports, caused by slower activity in key trading partners and rising global trade barriers.
• Growth is expected to recover to an average of 6.6% annually in FY27 and FY28, supported by a robust services sector and a pick-up in exports.
• Investment growth is expected to slow down in FY26, primarily due to global policy uncertainty.
• The World Bank’s growth forecast of 6.3% aligns with the Economic Survey’s lower-end forecast (6.3% to 6.8%), is slightly lower than the RBI’s projection of 6.5%, and slightly higher than the IMF’s 6.2% forecast for FY26.

Key Highlights :

Sectoral Output

• Growth moderated in FY24/25 due to a slowdown in industrial output.
• Construction and services sectors showed steady growth.
• Agricultural output recovered from previous drought conditions, driven by resilient rural demand.
• Government data reported a 6.5% growth in FY24/25.

Inflation

• Inflation is expected to remain contained assuming normal seasonal conditions.
• Headline CPI inflation declined to a nearly six-year low of 3.2% in April 2025 (YoY).
• RBI projects retail inflation for FY26 at 3.7%, with quarterly inflation estimates:
  • Q1: 2.9%
  • Q2: 3.4%
  • Q3: 3.9%
  • Q4: 4.4%

Fiscal Policy

• The World Bank acknowledges the government’s efforts towards fiscal consolidation.
• Expected outcomes include growing tax revenues, declining current expenditures, and a gradual reduction in the public debt-to-GDP ratio.

Global Growth Outlook

• Global growth is projected to slow to 2.3% in 2025, which is nearly 0.5 percentage points lower than earlier expectations.
• Despite the slowdown, a global recession is not anticipated.
• If forecasts hold, the average global growth rate in the 2020s will be the slowest decade since the 1960s.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Bihar Chief Minister Nitish Kumar Inaugurates 2 MW Canal-Side Solar Plant in Patna

• Bihar Chief Minister Nitish Kumar inaugurated a 2 MW solar power project along the Bikram Lock Canal in Patna district.
• Developed under the Jal-Jeevan-Hariyali Abhiyan, the project has been set up at no cost to the state exchequer through a private partnership and will provide electricity at ₹3.10/unit for 25 years to the Energy Department.

Key Highlights:

• First-of-its-kind in Bihar: This is Bihar’s first canal-side solar power plant, promoting efficient land use and clean energy generation.
• Zero burden on state funds: The project was constructed entirely by a private firm, ensuring no financial expenditure from the government.
• Fixed low tariff: Electricity will be supplied to the state at a locked rate of ₹3.10/unit for 25 years, ensuring cost stability.
• Supports renewable energy goals: Aims to reduce carbon emissions and dependence on conventional power sources.
• Utilization of idle government land: Built on land owned by the Water Resources Department, showcasing a model for repurposing underutilized spaces.
• Boost to rural electrification: The generated power will benefit residents of Bikram and nearby rural areas, improving power access.
• Employment and training: The project is expected to create local jobs and stimulate green employment opportunities.
• Promotes sustainable development: Supports Bihar’s vision of eco-friendly growth through clean and affordable energy solutions.

• Officials Present:Bijendra Prasad Yadav (Energy Minister), Vijay Kumar Chaudhary (Water Resources Minister), Amrit Lal Meena (Chief Secretary), Dr. Thiagarajan SM (Patna DM), and Pankaj Kumar Pal (Energy Dept. Secretary).

RECENT NEWS

• Prime Minister Narendra Modi virtually inaugurated the seventh edition of the Khelo India Youth Games (KIYG) in Patna, Bihar. This edition, marking a significant milestone for the state, features 27 medal sports and the introduction of esports as a demonstration event.
• In a significant push towards women’s empowerment, Bihar Chief Minister Nitish Kumar launched the “Mahila Samvad” campaign, a state-wide initiative aimed at connecting women with welfare schemes and amplifying their voices in policy discussions.

Maharashtra Launches Geo-Tagged Unique Infra ID for Project Monitoring

• The Maharashtra government has introduced a geo-tagged 13-character alphanumeric Unique Infra ID for every infrastructure project to enhance transparency, real-time tracking, and coordination.
• Activated on June 9, 2025, through the Infra ID portal, this digital initiative will be extended across departments and districts by October 2025, with full registration of projects sanctioned since 2020 to be completed by March 2026.

Key Highlights:

• Digital Identity for Projects: Each project will receive a 13-digit unique ID post-administrative approval to standardize tracking and avoid duplication.
• Real-Time Geo-Tagging: Projects will be geo-tagged via MRSAC (Maharashtra Remote Sensing Application Centre) for effective lifecycle monitoring.
• Unique ID Format: The ID comprises state code, year, scheme code, district code, asset type, and serial number (e.g., M25RURWRDRODW001).
• Infra ID Portal Launched: The digital platform enables public and inter-agency access to project data and improves governance.
• Pilot District: Implementation begins in Wardha (Vidarbha) before state-wide rollout in October 2025.
• First Phase Departments: Includes Public Works, Rural & Urban Development, Water Conservation, Water Supply & Sanitation, and Irrigation.
• Project Oversight: The District Collector’s Committee holds authority to cancel or amend project IDs, ensuring accountability.
• Completion Timeline:March 2026 is the deadline for uploading data of all projects approved since 2020.

RECENT NEWS

• In a major push towards industrial development and job creation, the Maharashtra government has signed a Memorandum of Understanding (MoU) with global investment firm Blackstone Group
• In a landmark move aimed at securing water resources and promoting inter-State cooperation, Madhya Pradesh and Maharashtra signed an MoU on May 10, 2025, to jointly implement the Tapti Basin Mega Recharge Project.
• On the historic occasion of the 300th birth anniversary of Ahilyabai Holkar, the Maharashtra government has launched the ‘Adishakti Abhiyan’, a women-centric empowerment campaign. The initiative focuses on ensuring effective delivery and awareness of existing government schemes for women and children, with an allocated budget of Rs 10.50 crore.

Centre Imposes 60% Spending Cap on MGNREGS for H1 of FY 2025–26

• In a notable policy shift, the Government of India has placed a 60% expenditure cap on the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the first half of FY 2025–26 under the MEP/QEP framework.
• This marks a departure from the scheme’s historically demand-driven model and could affect job generation amid ₹21,000 crore in pending liabilities from the previous year.

Key Highlights:

• First-Ever Cap Under MEP/QEP: For the first time, MGNREGS is brought under Monthly/Quarterly Expenditure Plan (MEP/QEP), limiting first-half spending to ₹51,600 crore, i.e., 60% of the ₹86,000 crore annual budget.
• High Pending Dues: The scheme carries unpaid liabilities of ₹21,000 crore from FY 2024–25, which may restrict fresh employment activities.
• Labour Budget Allocation: The labour budget for FY 2025–26 is 198.86 crore persondays, with 67.11% (133.45 crore persondays) allocated for H1.
• Spending Progress: As of June 8, 2025, the expenditure stood at ₹24,485 crore (28.47%), raising concerns over fund sufficiency in the coming months.
• Historical Significance of MGNREGS: Launched in 2006–07, it guarantees 100 days of wage employment to rural households, and was crucial during the COVID-19 crisis, with record participation of 7.55 crore households in 2020–21.
• MEP/QEP Framework Explained: Introduced in 2017, it aims to streamline fund release, reduce idle funds, and control government borrowing by breaking down annual budgets into monthly/quarterly limits.
• Rural Development Ministry’s Opposition: The Ministry of Rural Development had resisted the cap, citing the scheme’s responsive nature to labour demand in rural areas.

Bengaluru Becomes India’s ‘Leopard Capital’, Surpassing Mumbai

• Bengaluru has emerged as India’s leading metro in wild leopard population, overtaking Mumbai with an estimated 80–85 leopards inhabiting its forested outskirts.
• This significant finding comes from a recent year-long survey (2024–2025) conducted by the Holématthi Nature Foundation (HNF), highlighting Bengaluru as a rare urban region supporting apex predators and rich biodiversity, emphasizing the urgent need for sustained conservation efforts.

Key Highlights:

• Population Estimate: Bengaluru hosts 80–85 wild leopards, surpassing Mumbai’s population of 54 individuals.
• Survey Details:
  • Conducted over 282 sq km with more than 250 camera traps deployed.
  • Bannerghatta National Park (BNP) holds 54 leopards (up from 40 in 2019).
  • Approximately 30 leopards live across other metropolitan fringe areas.
• Key Survey Areas:
  • Forested zones such as Turahalli, B.M. Kaval, U.M. Kaval, Roerich Estate, Gollahalli Gudda.
  • Peripheral regions like Sulikere, Hesaraghatta, Marasandra, Manduru, and nearby landscapes.
• Biodiversity Findings:
  • Photo-documentation of 34 mammal species.
  • Among these, 8 species are IUCN-listed (4 Endangered, 4 Near Threatened).
  • 22 species are protected under Schedule I, and 5 under Schedule II of the Wildlife (Protection) Act, 1972.
• Recommendations by HNF for Conservation:
  • Declare B.M. Kaval, U.M. Kaval, Roerich Estate, and Gollahalli Gudda as Conservation Reserves.
  • Expand BNP by including Durgadakal RF, Bettahalliwade RF, and certain deemed forests like J.I. Bachahalli and M. Maniyambal.
  • Protect the Muneshwarabetta–Bannerghatta wildlife corridor.
  • Avoid further leopard translocations into BNP to maintain population stability.
  • Promote community awareness programs for conflict mitigation and support for wildlife corridors.

RECENT NEWS

• In a landmark moment for India’s semiconductor ambitions, Union Minister Shri Ashwini Vaishnaw inaugurated the country’s first 3nm chip design centres in Noida and Bengaluru.
• As part of a national emergency preparedness initiative led by the Ministry of Home Affairs, the Karnataka State Fire and Emergency Services held a civil defence mock drill in Bengaluru. Known as ‘Operation Abhyas’, the drill aimed to simulate real-life emergency scenarios and educate citizens.
• The Ministry of Electronics and Information Technology (MeitY), in collaboration with IISc Bengaluru, IIT Bombay, IIT Madras, IIT Delhi, IIT Kharagpur, and IIT Guwahati, successfully hosted India’s first Nano Electronics Roadshow on March 27, 2025, at the National Science Seminar Complex, IISc Bengaluru.

India’s Population Reaches 1.46 Billion as Fertility Falls Below Replacement Level

• In 2025, India’s population is estimated at 1.46 billion, making it the world’s most populous nation. A recent UNFPA State of World Population Report notes that the total fertility rate (TFR) has declined to 1.9 births per woman, below the replacement threshold of 2.1, and forecasts a peak of 1.7 billion in the early 2060s before a gradual decline.

Key Highlights:

• Population Milestone: India’s population stands at 1.46 billion in 2025, surpassing all other countries.
• Fertility Decline: The TFR of 1.9 is now below the 2.1 replacement level, indicating fewer births per woman than needed for long-term population stability.
• Peak Projection: The UN projects a peak of 1.7 billion around 2064, after which the population will slowly decrease.
• Age Structure:
  • 24% aged 0–14 years
  • 68% in the working-age group (15–64 years), presenting a window for a demographic dividend
• Growing Elderly Share: Currently 7% of Indians are 65 and above; this share will rise as life expectancy increases to 71 years for men and 74 years for women.
• UNFPA Report Theme: Titled “The Real Fertility Crisis,” the 2025 report urges policymakers to support individuals’ family-planning goals rather than alarm over declining fertility.

Government Reforms in SEZ Rules to Boost Semiconductor and Electronics Manufacturing

• The government has introduced targeted reforms in the Special Economic Zones (SEZ) Rules to cater to the unique needs of semiconductor and electronics component manufacturing—sectors characterized by high capital intensity, import dependency, and long gestation periods before profitability.

Key Amendments:

• Rule 5 (Land Area Requirement):
  Minimum contiguous land area for SEZs exclusively for semiconductor/electronics manufacturing reduced from 50 hectares to 10 hectares to encourage investments.
• Rule 7 (Encumbrance-Free Land Condition):
  The Board of Approval can now relax the requirement for SEZ land to be encumbrance-free if the land is mortgaged or leased to Central/State Governments or authorized agencies.
• Rule 53 (Net Foreign Exchange - NFE):
  The value of goods supplied free-of-cost can now be included in NFE calculations, assessed as per customs valuation rules.
• Rule 18 (Domestic Supply):
  SEZ units in these sectors are now permitted to supply goods domestically (to Domestic Tariff Area) after paying applicable duties, encouraging broader market access.

Impact and Implementation:

• These amendments aim to promote pioneering investments, spur the growth of the semiconductor manufacturing ecosystem, and generate high-skilled jobs in India’s high-tech manufacturing sector.
• The reforms were notified by the Department of Commerce on 3rd June 2025.
• Following this, the SEZ Board approved proposals for two key projects:
  • Micron Semiconductor Technology India Pvt Ltd (MSTI) will set up a 37.64-hectare SEZ in Sanand, Gujarat, with an investment of ₹13,000 crore.
  • Hubballi Durable Goods Cluster Pvt Ltd (Aequs Group) will establish an 11.55-hectare SEZ in Dharwad, Karnataka for electronics components manufacturing, investing ₹100 crore.

India Champions Ocean Conservation at UNOC3 with “SAHAV” Portal and Deep Ocean Mission

• At the Third United Nations Ocean Conference in Nice, Union Minister of Earth Sciences Jitendra Singh presented India’s bold initiatives—ranging from deep‐sea exploration and marine plastic clean-up to sustainable fisheries—urging urgent global action under SDG 14: Life Below Water.
• He called for a legally binding Global Plastics Treaty, swift ratification of the BBNJ Agreement, and launched the ‘SAHAV’ digital ocean data portal, underscoring India’s leadership in science-based marine governance.

Key Highlights:

• Deep Ocean Mission – “Samudrayaan”: India’s first manned submersible, set to dive to 6,000 m by 2026, marking a quantum leap in ocean science.
• Swachh Sagar, Surakshit Sagar Campaign: Over 1,000 km of coastline cleaned and 50,000 tonnes of plastic removed since 2022, supported by a draft marine litter policy.
• Global Plastics Treaty & BBNJ Agreement: Call for a legally binding plastics treaty and rapid ratification of the Biodiversity Beyond National Jurisdiction framework.
• Marine Protected Areas Expansion: Coverage increased to 6.6% of India’s Exclusive Economic Zone, contributing to global biodiversity targets.
• Blue Economy Growth:
  • Sagarmala Programme: 600+ port-led projects worth $80 billion operationalized.
  • PM Matsya Sampada Yojana: $2.5 billion investment, 10% rise in fish production, and 1,000+ fish farmer producer organizations since 2022.
• Ecosystem Restoration: Over 10,000 ha of mangroves restored and nature-based shoreline management, integrated into India’s NDCs under the Paris Agreement.
• SAHAV Portal Launch: A transparent, science-driven digital platform for real-time ocean data, reinforcing evidence-based policy.
• International Partnerships: Co-leadership in “Blue Talks” with France and Costa Rica, and side sessions like India-Norway on Marine Spatial Planning.
• Nice Ocean Action Plan: Urged global investment in innovation, finalizing the plastics treaty, and endorsement of the Nice Action Plan for collective ocean stewardship.

Centre Approves Third Electronics Manufacturing Cluster for Tamil Nadu, Boosting State’s Tech Hub Status

• The Union government has approved a third Electronics Manufacturing Cluster (EMC) in Tamil Nadu, further strengthening the state’s role as a leading electronics manufacturing hub in India.
• The announcement was made by Union Minister for Electronics and IT Ashwini Vaishnaw during a virtual address at an IIT Madras

Key Highlights:

• New Cluster Approved
  Tamil Nadu will receive its third electronics manufacturing cluster, following two clusters announced earlier in March 2025 involving a combined investment of ₹1,112 crore.
• Electronics Manufacturing Momentum
  The state is witnessing strong growth in the production of mobile phones, laptops, and servers, driven by increasing investments and supportive policies.
• Support for PLI Scheme
  The new cluster is aligned with the Centre’s Production-Linked Incentive (PLI) initiatives aimed at enhancing domestic capabilities and export potential in the electronics sector.
• Zetwerk Project in Sriperumbudur
  One of the previous clusters supports Zetwerk Electronics’ manufacturing facility near Chennai, focused on consumer electronics and IT hardware components.
• Strategic Importance in Railways
  Tamil Nadu is also emerging as a key location for railway manufacturing, producing high-strength railway wheels and assembling Vande Bharat trains with Indian Railways' support.

RECENT NEWS

• Tamil Nadu has officially joined the league of Indian states with dedicated space sector policies by unveiling its Space Industrial Policy in April 2025. Aimed at boosting economic growth and job creation, the policy seeks to attract ₹10,000 crore in investments over the next five years.
• Tamil Nadu Chief Minister M.K. Stalin announced that the state will soon officially declare May 5 as Traders Day, addressing a long-standing demand of the business community

Madhya Pradesh Launches E-Nagarpalika 2.0, Becomes First State to Digitally Integrate All Urban Local Bodies

• In a significant step toward streamlining urban governance, the Madhya Pradesh Urban Development and Housing Department has launched E-Nagarpalika 2.0, becoming the first state in India to bring all 413 urban local bodies (ULBs) under a single integrated digital platform.

Key Highlights:

• Advancement Over E-Nagarpalika 1.0
  The upgraded version builds on the earlier system, which digitized services like payments, grievance redressal, and internal workflows. E-Nagarpalika 2.0 takes a more holistic approach with deeper integration across departments and state-level digital platforms.
• Enhanced Features in Version 2.0
  The new system includes:
  • 16 functional modules
  • 24 citizen-facing services
  • Geographic Information System (GIS) integration
  • Artificial Intelligence tools
  • Cloud-based data management
• Integration with National Platforms
  The platform is now linked with the UMANG mobile app, making it easier for citizens to access civic services from a central digital interface.
• Open-Source and Cost-Efficient
  Developed using open-source technology, the system reduces dependency on private vendors and lowers licensing costs. The implementation contract includes five years of maintenance.
• Governance Benefits Beyond Technology
  While technologically robust, the emphasis is on transparency, data-driven decision-making, and streamlined service delivery. Officials expect reduced duplication, faster workflows, and enhanced accountability.
• Public-Facing Portal
  A new public portal gives access to both:
  • Static information (departmental contacts, scheme details)
  • Dynamic content (budgets, tenders, project updates)

RECENT NEWS

• The Madhya Pradesh government has declared a new wildlife sanctuary in Sagar district, covering an area of 258.64 square kilometers. The sanctuary, named Dr. Bhimrao Ambedkar Abhyaran, was officially announced ahead of the 134th birth anniversary of Dr. B.R. Ambedkar, which will be observed on April 14.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Commission for Air Quality Management (CAQM),CSIR-Central Road Research Institute (CRRI) and the School of Planning and Architecture (SPA) Join Forces to Combat Road Dust Pollution in NCR

• To address the escalating problem of road dust pollution in the National Capital Region (NCR), the Commission for Air Quality Management (CAQM) has entered a tripartite Memorandum of Understanding (MoU) with the CSIR-Central Road Research Institute (CRRI) and the School of Planning and Architecture (SPA), New Delhi.
• Signed, this collaboration aims to develop and implement a standardized urban road redevelopment framework combining scientific road engineering, greening strategies, and digital asset management to improve air quality in NCR’s urban centers.

Key Highlights:

• Objective:
  • Reduce road dust pollution through sustainable and standardized urban road redevelopment.
  • Implement dust suppression and greening measures to enhance air quality.
  • Use a Web-GIS based Road Asset Management System (RAMS) for data-driven monitoring and management.
• Phase-1 Cities Targeted:
  • Delhi, Faridabad, Gurugram, Sonipat, Ghaziabad, Noida, Greater Noida, Bhiwadi, Neemrana.
• Institutional Roles:
  • CAQM: Lead implementation agency and host for the Project Monitoring Cell (PMC).
  • CSIR-CRRI: Provides technical expertise in road engineering, construction, and asset management; designs road cross-sections and integrates new technologies.
  • SPA-New Delhi: Contributes urban planning expertise, focuses on greening sidewalks and pathways, and supports sustainable landscape integration.
• Framework Components:
  • Road cross-section designs tailored to right-of-way (ROW) width and urban requirements.
  • Greening initiatives including plantation, paving, and installation of dust barriers to curb dust generation.
  • Deployment of a Web-GIS based RAMS platform for smart tracking of road condition, maintenance, and repairs.
  • Development of an interactive dashboard to ensure transparency and facilitate project-wise monitoring.

L&T Signs MoUs with Two Norwegian Firms for Kattupalli Shipyard

• L&T has signed Memorandums of Understanding (MoUs) with two Norway-based companies to enhance collaboration at its shipbuilding facility in Kattupalli, North Chennai.

Key Details:

• MoUs Signed With:
  • Ulstein Design & Solutions:
    Specializes in offshore vessel design and construction. The partnership aims to explore synergies and cooperation in commercial shipbuilding projects at Kattupalli (~40 km from Chennai).
  • DNV:
    Collaboration areas include shipbuilding, offshore and maritime sectors, port infrastructure expansion, energy systems, industrial solutions, smart infrastructure, and sustainability initiatives.
• Event:
  The MoUs were signed during a delegation visit to Norway led by Union Minister of Ports, Shipping and Waterways, Sarbananda Sonowal.

About Kattupalli Shipyard:

• Located in North Chennai, the facility includes:
  • A shipyard and a modular fabrication unit.
  • Functions as a hub for shipbuilding, ship repair, and fabrication of modular components for oil and gas projects (offshore platforms, subsea pipelines).
  • Equipped with advanced infrastructure such as automatic blasting and priming lines, plasma cutting machines, hydraulic press/forming machines, and heavy-duty assembly workshops.
• L&T plans infrastructure augmentation at Kattupalli over the next decade, aligned with future business needs.

L&T Shipbuilding Profile:

• Has played a key role in designing and constructing India’s first nuclear-powered submarine.
• Portfolio includes frontline warships, frigates, destroyers, corvettes, and submarines.
• Focuses on offshore vessels, chemical tankers, and other high-tech vessels for global clients.
• As of March 31, 2025, the order book for L&T Precision Engineering Systems (which includes shipbuilding) stood at around ₹34,000 crore.

CURRENT AFFAIRS: RANKING AND INDEX

Mumbai Ranks 6th Globally in Under-Construction Data Centre Capacity

• Mumbai has achieved a significant milestone by securing the 6th position globally and 1st in the Asia-Pacific (APAC) region in terms of under-construction data centre capacity, according to the 2025 Global Data Center Market Comparison Report by Cushman & Wakefield.
• With 335 MW currently being built, the city is set to witness a 62% increase in operational capacity, reflecting its emergence as a major digital infrastructure hub amid surging demand from hyperscalers and cloud-driven technologies.

Key Highlights:

• Report Context: The ranking is based on Cushman & Wakefield’s 2025 edition of the Global Data Center Market Comparison Report, which evaluated 97 global cities on various infrastructure metrics.
• Under-Construction Capacity: Mumbai has 335 MW of data centre capacity under construction as of the end of 2024.
• Operational Growth Projection: The ongoing developments will boost Mumbai’s data centre operational capacity by 62%, positioning it as a leader in India’s digital expansion.
• National Share: Mumbai currently holds more than 50% of India’s total data centre capacity, showcasing its dominant role in the country’s digital ecosystem.
• Global Top 10 – Under-Construction Data Centre Capacity:
  1. Virginia – 1,834 MW
  2. Atlanta – 1,078 MW
  3. Columbus – 546 MW
  4. Dallas – 500 MW
  5. Phoenix – 478 MW
  6. Mumbai – 335 MW
  7. Austin/San Antonio – 325 MW
  8. Reno – 305 MW
  9. London – 265 MW
  10. Dublin – 249 MW
• Key Growth Drivers:

• Increased demand from hyperscalers like AWS, Microsoft Azure, Google Cloud, and Meta.
• Rapid growth in cloud computing, AI, IoT, and 5G technologies, raising the need for advanced data infrastructure.

• Strategic Advantages of Mumbai:

• Coastal location supporting global connectivity.
• Financial capital of India with an expanding technology ecosystem.

• Infrastructure Enablers:

• Presence of 12 submarine cable landing stations, ensuring high-speed international connectivity.
• Addition of the MIST (Myanmar/Malaysia-India-Singapore Transit) cable has enhanced bandwidth availability.
• A strong digital backbone and reliable power supply facilitate large-scale data centre operations.

• Current Limitations and Challenges:

• Limited availability of land in priority zones may restrict future expansion.
• Power cost and access in specific pockets remain concerns for scalability.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Justice NS Sanjay Gowda Takes Oath as Gujarat High Court Judge

• Justice Neranahalli Srinivasan Sanjay Gowda, formerly a judge of the Karnataka High Court, was sworn in as a judge of the Gujarat High Court.
• The oath of office was administered by Chief Justice of Gujarat High Court, Justice Sunita Agarwal.
• The Supreme Court Collegium, in April 2025, recommended the transfer of seven sitting High Court judges, including four judges from Karnataka, among whom was Justice Gowda.
• The oath-taking ceremony was held in the First Court of Gujarat High Court, attended by Advocate General Kamal Trivedi, senior advocates, and other dignitaries.
• Justice Gowda is 58 years old and began his legal career as an advocate in 1989.
• He was appointed as Additional Judge of the Karnataka High Court in November 2019.
• Later, he was made a permanent judge of the Karnataka High Court in September 2021.

CURRENT AFFAIRS : DEFENCE NEWS

Keel Laid for Fourth Next Generation Offshore Patrol Vessel (Yard 1283) at Goa Shipyard Limited

• The Keel Laying ceremony of Yard 1283, the fourth Next Generation Offshore Patrol Vessel (NGOPV), was held on 09 June 2025.
• The event was graced by Vice Admiral Krishna Swaminathan, Vice Chief of the Naval Staff, as the Chief Guest.
• A total of 11 NGOPVs are under construction following contracts signed on 30 March 2023:
• 7 ships by Goa Shipyard Ltd (GSL), Goa
• 4 ships by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata
• The NGOPVs have an approximate tonnage of 3000 tonnes and are designed for:
• Coastal Defence and Surveillance
• Search and Rescue operations
• Protection of Offshore Assets
• Anti-Piracy missions
• These ships are built in line with India’s Aatmanirbhar Bharat and Make in India
• NGOPVs will augment Indian Naval maritime prowess and strengthen coastal security.

About Ministry of Defence:

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

Indian Coast Guard Launches Dedicated Jetty at Vizhinjam Harbour, Kerala

• The Indian Coast Guard (ICG) Director General Paramesh Sivamani inaugurated a dedicated ICG jetty at Vizhinjam Harbour, Kerala aimed at enhancing maritime security.
• The jetty is 76.7 metres long and state-of-the-art, designed to support faster deployment and turnaround of Coast Guard vessels.
• The facility will boost mission readinessfor:Coastal surveillance, Search & rescue operations, Anti-smuggling activities, Fisheries protection
• Strategically located 10 nautical miles from key international shipping lanes and adjacent to the Vizhinjam International Transshipment Deepwater Port.
• The jetty is expected to play a critical role in safeguarding India’s southwestern coastline.
• The inauguration was attended by:Commander of ICG Region (West), Inspector General Bhisham Sharma

About ICG :

• Indian Coast Guard was established in February 1977 with a fleet of 7 ships and a jurisdiction of 2.01 million square kilometers of Exclusive Economic Zone (EEZ).
• The ICG has expanded to around 190 surface ships dedicated to maritime law enforcement, safety, and protection.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India approves BREP Asia III India Holding Co VII Private. Limited.’s acquisition of stake in Kolte-Patil Developers Limited

• The Competition Commission of India (CCI) has approved the acquisition of 40% shareholding in Kolte-Patil Developers Limited (KPDL) by BREP Asia III India Holding Co VII Pte. Ltd.
• The acquisition will be done through a combination of share subscription and share purchase.
• The deal also includes an open offer for acquiring additional shares of the target company (KPDL).
• BREP Asia III India Holding Co VII Pte. Ltd. is an affiliate of Blackstone Inc., a global alternative asset manager.
• Kolte-Patil Developers Limited is a listed Indian real estate company, primarily engaged in the construction, development, and sale of real estate.

Recent News :

• In May 2025, CCI has approved the proposed acquisition of shareholding in EPL Limited by Indorama Netherlands B.V.

About CCI:

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

Competition Commission of India approves Havells India Limited’s acquisition of equity in Goldi Solar Private Limited and Goldi Sun Private Limited’s acquisition of full partnership in Vama Inverters LLP and Goldi Energy LLP

• The Competition Commission of India (CCI) has approved the acquisition involving Goldi Solar Private Limited, Havells India Limited (HIL), Goldi Sun Private Limited, Vama Inverters LLP, and Goldi Energy LLP.
• The proposed combination includes:
• Acquisition of less than 10% equity share capital of Goldi Solar Private Limited by Havells India Limited (HIL).
• Acquisition of 100% partnership interest of Vama Inverters LLP and Goldi Energy LLP by Goldi Sun Private Limited.
• Havells India Limited (HIL) is engaged in:
• Manufacture and sale of products like fans, lighting, switches, accessories, home appliances, home electricals (including solar inverters), and switchgears.
• Sale of solar modules in India.
• Goldi Solar Private Limited (and affiliates) is involved in:
• Manufacture and sale of solar modules.
• Provision of Engineering, Procurement, and Construction (EPC) services for the solar sector in India.
• Goldi Sun Private Limited is engaged in the manufacture and sale of solar modules.
• Vama Inverters LLP is engaged in the sale of solar inverters in India.
• Goldi Energy LLP is involved in providing EPC services for the solar sector in India.
• This acquisition strengthens the presence of involved entities in the solar energy sector, covering manufacturing, sales, and EPC services.

CURRENT AFFAIRS : APPS & PORTALS

Union Minister of State Dr. L Murugan to Launch National e-Vidhan Application for Puducherry Legislative Assembly

• Union Minister of State for Information and Broadcasting & Parliamentary Affairs, Dr. L. Murugan, will inaugurate the National e-Vidhan Application (NeVA) for the Puducherry Legislative Assembly on June 9, 2025.
• The ceremony will be attended by:Lieutenant Governor of Puducherry, Shri K. Kailashnathan, Chief Minister of Puducherry, Shri N. Rangasamy, Speaker of Puducherry Legislative Assembly, Shri Selvam R, Members of the Puducherry Legislative Assembly.

About National e-Vidhan Application (NeVA):

• Launched under the leadership of Prime Minister Narendra Modi by the Ministry of Parliamentary Affairs (MoPA).
• Aims to digitize and streamline legislative processes across all 37 State and Union Territory Legislatures through a unified platform, embodying the vision of ‘One Nation – One Application’.
• Approved by the Public Investment Board (PIB) on 15th January 2020 with a budget of ₹673.94 crore.
• Uses a centrally sponsored funding model to ensure equitable support across states and UTs.
• Goal: To conduct legislative business in a paperless manner and create a massive unified data repository without the complexity of multiple applications.
• Partners include BHASHINI, MeITY; integrates AI/ML-based real-time translation services to enhance linguistic inclusivity.
• So far, 28 State Legislatures have signed MoUs, and 18 Legislative Houses have become fully digital legislatures.

About Ministry of Parliamentary Affairs :

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

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Department of Posts Launches Digipin Digital Addressing System in Partnership with IIT Hyderabad and Indian Space Research Organisation’s National Remote Sensing Centre

• The Department of Posts has launched a new digital addressing system called Digipin, developed in collaboration with IIT Hyderabad and Indian Space Research Organisation’s (ISRO’s) National Remote Sensing Centre (NRSC).

Key Highlights :

• Digipin stands for Digital Postal Index Number and provides precise and unique identification of geographic locations across India.
• It assigns a 10-character alphanumeric code to each specific geolocation, improving accuracy significantly over the existing 6-digit PIN code system used since 1972.
• Each Digipin corresponds to a 4x4 square metre grid on the Indian landmass, ensuring every inch of the country is uniquely identified.
• Digipin is part of the National Geospatial Policy 2022 to promote digital-first governance, accurate last-mile delivery, and efficient emergency response.

Key Features of Digipin:

• Geo-coded and grid-based: Uses satellite-derived coordinates for high precision.
• Open-source and privacy-centric: Only encodes location data without storing any personal information.
• Nationwide coverage: Applicable to urban, rural, remote, and maritime areas.

Supporting Platforms:

• ‘Know Your Digipin’ portal:
  
  • Accessible via India Post’s official website.
  • Allows users to retrieve their Digipin using GPS data or by manually entering latitude and longitude.
  • Supports conversion between geo-coordinates and Digipin codes.
  • Features a map-based interface for locating or verifying codes.
• Updated ‘Know Your PIN Code’ platform:
  
  • Helps users identify the correct 6-digit PIN code using GNSS-based data.
  • Allows submission of feedback to improve PIN code accuracy.
  • Public release of geo-referenced boundary datasets of PIN codes via the Open Government Data Platform.

CURRENT AFFAIRS : OBITUARIES

Frederick Forsyth, Author of ‘The Day of the Jackal,’ Passed Away at the age of 86

• Frederick Forsyth, a renowned British author known for his bestselling political thriller “The Day of the Jackal”died at the age of 86 after a brief illness.

About Frederick Forsyth :

• Born in Kent, England in 1938, Forsyth served as a Royal Air Force pilot before becoming a foreign correspondent.
• He covered the 1962 attempted assassination of French President Charles de Gaulle, which inspired his famous novel “The Day of the Jackal.”
• The novel, published in 1971, brought him global fame and was adapted into a 1973 film starring Edward Fox and a more recent TV series starring Eddie Redmayne and Lashana Lynch.
• Forsyth revealed in 2015 that he had worked for the British intelligence agency MI6, starting during his coverage of the Nigerian civil war in the 1960s.
• He authored more than 25 books including “The Afghan,” “The Kill List,” “The Dogs of War,” and “The Fist of God.”
• His books have sold over 75 million copies
• Forsyth’s publisher, Bill Scott-Kerr, announced the upcoming release of “Revenge of Odessa,” a sequel to the 1974 novel “The Odessa File.”
• The book, co-written with Tony Kent, will be published in August 2025.

Sly Stone, iconic musician and frontman of Sly and the Family Stone who revolutionized 1960s-70s music Passed away

• Sly Stone, the revolutionary musician and dynamic showman whose Sly and the Family Stone transformed popular music in the 1960s and ’70s died at the age of 82 in Los Angeles.

About Sly Stone :

• Sly Stone was born as Sylvester Stewart in Denton, Texas.
• He was the leader of Sly and the Family Stone, a multiracial American band known for blending rock, soul, and psychedelic music.
• The band helped popularize funk, an Afrocentric music style characterized by grooves and syncopated rhythms.
• Known for his iconic stage presence, Stone often wore sheer shirts and hot pink vests during performances.
• He was the star performer at the 1969 Woodstock music festival, a defining event of the hippie era.
• Some of the band’s major hitsinclude:"Dance to the Music", "Family Affair", "Everyday People", "If You Want Me to Stay", "Hot Fun in the Summertime"
• Before forming the band, he worked as a radio disc jockey and record producer for a San Francisco Bay Area R&B label.
• The band disbanded in 1983, though Stone made a brief comeback in the mid-1990s.
• He was eventually recognized with honors such as induction into the Rock and Roll Hall of Fame and performed again in major U.S. cities.

CURRENT AFFAIRS: IMPORTANT DAYS

World Day Against Child Labour 2025: June 12

• World Day Against Child Labour 2025 is observed all over the world on June 12thas an awareness event to protect children against labour.
• Every year on June 12th, around 100 countries throughout the world commemorate World Day Against Child Labor.
• Theme of World Day Against Child Labor-2025: Progress is evident, but there is more work to be done: Let's accelerate efforts!

History

• In 1919, The International Labour Organization (ILO) was founded with the goal of promoting social justice and establishing International Labor Standards. ILO has 137 states as members.
• Since then, the ILO has enacted additional agreements aimed at improving labour conditions across the world.
• In 1973, The International Labor Organization (ILO) enacted Convention Number. 138 which focused on the minimum age for work. Its goal is for member nations to raise the minimum employment age and eliminate child labour.
• In 1999, The ILO convention number 182, often known as the "Worst Forms of Child Labour Convention," was approved. Its goal is to take the required and quick steps to end the worst type of child labour.
• In 2002, The World Day Against Child Labor was founded by the International Labour Organization (ILO), the United Nations entity that oversees the worldwide community of labour. It ensures that many children aged 5 to 17 have a normal childhood by providing them with proper schooling, medical services, leisure time, or just basic liberties.

Daily CA One- Liner: June 12

• Bihar Chief Minister Nitish Kumar inaugurated a 2 MW solar power project along the Bikram Lock Canal in Patna district
• The Maharashtra government has introduced a geo-tagged 13-character alphanumeric Unique Infra ID for every infrastructure project to enhance transparency, real-time tracking, and coordination
• In a notable policy shift, the Government of India has placed a 60% expenditure cap on the Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) for the first half of FY 2025–26 under the MEP/QEP framework
• Bengaluru has emerged as India’s leading metro in wild leopard population, overtaking Mumbai with an estimated 80–85 leopards inhabiting its forested outskirts.
• In 2025, India’s population is estimated at 1.46 billion, making it the world’s most populous nation. A recent UNFPA State of World Population Report notes that the total fertility rate (TFR) has declined to 1.9 births per woman, below the replacement threshold of 2.1, and forecasts a peak of 1.7 billion in the early 2060s before a gradual decline
• The government has introduced targeted reforms in the Special Economic Zones (SEZ) Rules to cater to the unique needs of semiconductor and electronics component manufacturing—sectors characterized by high capital intensity, import dependency, and long gestation periods before profitability
• At the Third United Nations Ocean Conference in Nice, Union Minister of Earth Sciences Jitendra Singh presented India’s bold initiatives—ranging from deep‐sea exploration and marine plastic clean-up to sustainable fisheries—urging urgent global action under SDG 14: Life Below Water
• The Union government has approved a third Electronics Manufacturing Cluster (EMC) in Tamil Nadu, further strengthening the state’s role as a leading electronics manufacturing hub in India.
• In a significant step toward streamlining urban governance, the Madhya Pradesh Urban Development and Housing Department has launched E-Nagarpalika 2.0, becoming the first state in India to bring all 413 urban local bodies (ULBs) under a single integrated digital platform
• To address the escalating problem of road dust pollution in the National Capital Region (NCR), the Commission for Air Quality Management (CAQM) has entered a tripartite Memorandum of Understanding (MoU) with the CSIR-Central Road Research Institute (CRRI) and the School of Planning and Architecture (SPA), New Delhi
• L&T has signed Memorandums of Understanding (MoUs) with two Norway-based companies to enhance collaboration at its shipbuilding facility in Kattupalli, North Chennai
• Mumbai has achieved a significant milestone by securing the 6th position globally and 1st in the Asia-Pacific (APAC) region in terms of under-construction data centre capacity, according to the 2025 Global Data Center Market Comparison Report by Cushman & Wakefield
• World Day Against Child Labour 2025 is observed all over the world on June 12thas an awareness event to protect children against labour.
• CreditAccess Grameen, the largest NBFC-MFI (Non-Banking Finance Company – Micro Finance Institution) in India, secured a $100 million multi-currency syndicated social loan facility.
• Paytm has introduced the ability to create custom UPI IDs to strengthen privacy and security and boost onboarding of new UPI users in India.
• Extreme poverty rate in India declined sharply from 27.1% in 2011-12 to 5.3% in 2022-23.
• The World Bank has lowered India’s growth forecast by 40 basis points (0.4%) for FY26 to 6.3%, but India remains the fastest-growing major economy globally.
• The Indian Coast Guard (ICG) Director General Paramesh Sivamani inaugurated a dedicated ICG jetty at Vizhinjam Harbour, Kerala aimed at enhancing maritime security.
• Justice Neranahalli Srinivasan Sanjay Gowda, formerly a judge of the Karnataka High Court, was sworn in as a judge of the Gujarat High Court.
• The Keel Laying ceremony of Yard 1283, the fourth Next Generation Offshore Patrol Vessel (NGOPV), was held on 09 June 2025.
• The Competition Commission of India (CCI) has approved the acquisition of 40% shareholding in Kolte-Patil Developers Limited (KPDL) by BREP Asia III India Holding Co VII Pte. Ltd.
• The Competition Commission of India (CCI) has approved the acquisition involving Goldi Solar Private Limited, Havells India Limited (HIL), Goldi Sun Private Limited, Vama Inverters LLP, and Goldi Energy LLP.
• Union Minister of State for Information and Broadcasting & Parliamentary Affairs, Dr. L. Murugan, will inaugurate the National e-Vidhan Application (NeVA) for the Puducherry Legislative Assembly on June 9, 2025.
• The Department of Posts has launched a new digital addressing system called Digipin, developed in collaboration with IIT Hyderabad and Indian Space Research Organisation’s (ISRO’s) National Remote Sensing Centre (NRSC).
• Frederick Forsyth, a renowned British author known for his bestselling political thriller “The Day of the Jackal”died at the age of 86 after a brief illness.
• Sly Stone, the revolutionary musician and dynamic showman whose Sly and the Family Stone transformed popular music in the 1960s and ’70s died at the age of 82 in Los Angeles.