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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Viyona Fintech Receives National Payments Corporation of India Approval as Biller Operating Unit Under Bharat Bill Payment System

• Viyona Fintech India Private Limited, an National Payments Corporation of India (NPCI)-certified Technology Service Provider, received certification as a Biller Operating Unit (BOU) under the Bharat Bill Payment System (BBPS).
• The BBPS is operated by NPCI Bharat BillPay Limited (NBBL), a subsidiary of the National Payments Corporation of India (NPCI).

What is a BOU ?

• A Biller Operating Unit (BOU) is a licensed entity authorized to onboard service providers (billers) onto a centralized and interoperable bill payment network.
• In India, the BOU framework primarily operates under the Bharat Bill Payment System (BBPS), also known as Bharat Connect.
• A BOU enables billers to join the BBPS network and offer standardized bill collection services to customers.
• BOUs serve as a crucial bridge between utility/service providers and the digital payment ecosystem.

Key Highlights :

• The BOU certification enables Viyona Fintech to officially operate as a Biller Operating Unit on the Bharat BillPay network.
• With this certification, billers across sectors such as utilities, education, insurance, and financial services can collect payments through the BBPS platform.
• Viyona is now authorized to onboard billers onto the BBPS network through a compliant and integration-ready platform.
• The certification provides billers with access to one of India's largest interoperable digital bill payment networks.
• The BBPS (Bharat Bill Payment System) is an interoperable bill payment platform that facilitates standardized bill collections across multiple categories.
• The BBPS BOU certification strengthens Viyona’s position as a full-stack payments technology provider serving banks, billers, and financial institutions across India.
• Apart from BBPS BOU, Viyona holds several other NPCI certifications, including UPI Switch (Issuer and Acquirer), Immediate Payment Service (IMPS), Banking Connect, and Electronic Know Your Customer (e-KYC) Setu.
• The addition of BBPS BOU certification expands Viyona’s portfolio of digital payment solutions and enhances its role in India's growing digital payments ecosystem.
• Onboarding of partner billers onto the Bharat BillPay network through Viyona is expected to begin in the coming weeks.
• NPCI (National Payments Corporation of India) is the umbrella organization for retail payment systems in India and operates major platforms such as UPI, IMPS, RuPay, and BBPS.
• Chairman and CEO, Viyona Fintech : Ravindranath Yarlagadda

Fitch Revises India’s Financial Year 2026-27 Economic Growth Forecast Down to 6.4%

• Fitch Ratings, an American credit rating agency, released its June 2026 Global Economic Outlook (GEO) and revised India’s Gross Domestic Product (GDP) growth forecast for Financial Year 2026-27 (FY27) downward by 30 basis points (bps) to 6.4%, from its earlier estimate of 6.7%.
• According to the report, India’s GDP growth is projected to improve to 6.7% in FY28, supported by strong consumer spending and robust investment activity.
• For FY29, Fitch forecasts that India’s GDP growth rate will moderate to 6.4%.
• The report noted that Wholesale Prices in India increased by 8.3% Year-on-Year (Y-o-Y) in April 2026.
• India’s Consumer Price Index (CPI) inflation stood at 3.5% in April 2026.
• Fitch projects that India’s inflation rate will rise to 5.3% by the end of Calendar Year 2026 (CY26).
• At the global level, Fitch Ratings revised its global growth forecast downward by 20 basis points (bps) to 2.4% for CY26.

Recent News :

• In May 2026,The United Nations revised India’s Gross Domestic Product growth forecast for 2026 downward to 6.4 percent from the earlier estimate of 6.6 percent

Reserve Bank of India Recognises Sahamati Foundation as Self-Regulatory Organisation for the Account Aggregator Ecosystem

• The Reserve Bank of India (RBI) recognised Sahamati Foundation as the Self-Regulatory Organisation (SRO) for India’s Account Aggregator (AA) ecosystem, creating a formal industry-led governance framework for the country’s consent-based financial data-sharing network.
• The recognition was granted after evaluating Sahamati’s application under the RBI’s March 2025 framework for recognising SROs in the AA ecosystem.
• As the recognised SRO-AA, Sahamati Foundation will serve as the representative body for participants in the Account Aggregator ecosystem, fostering collaboration among financial institutions, Account Aggregators, FinTech companies, and other stakeholders.
• In its regulatory role, Sahamati will help develop industry standards, promote best practices, resolve operational challenges, and strengthen compliance and governance across the ecosystem.
• The Account Aggregator (AA) framework is a consent-based digital financial data-sharing system regulated by the RBI, enabling individuals and businesses to securely share financial information with authorised institutions.
• The AA ecosystem currently comprises 1,120 regulated entities, including 17 operational Account Aggregators (AAs).
• The ecosystem has enabled more than 294 million linked accounts, processed over 450 million consent requests, and facilitated more than 290 million monthly data-sharing transactions.
• Under RBI guidelines, an SRO for the AA ecosystem (SRO-AA) must be registered as a Section 8 (not-for-profit) company under the Companies Act, 2013.
• The recognised SRO-AA must maintain a minimum net worth of ₹2 crore within one year of recognition (or before commencing operations) and continue maintaining it thereafter.
• RBI guidelines also require diversified shareholding, with no single entity or group acting in concert holding 10% or more of the paid-up share capital.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi to Visit France and Slovakia; Participate in G7 Summit and VivaTech 2026

• Prime Minister Narendra Modi will undertake a six-day visit to France and Slovakia from 13–18 June 2026 to strengthen India’s strategic partnerships with European countries.
• During the visit, he will hold bilateral meetings with French President Emmanuel Macron and Slovak Prime Minister Robert Fico.
• In France, Prime Minister Modi will visit Nice, where both leaders will review the full spectrum of India–France relations under the India–France Special Global Strategic Partnership.
• Discussions are expected to focus on defence cooperation, artificial intelligence, clean energy, space, trade, investment, and emerging technologies.
• Prime Minister Modi and President Macron will jointly inaugurate the “Bharat Innovates” event, which aims to strengthen collaboration among startups, innovators, investors, and technology leaders from India and France.
• The event will highlight cooperation in areas such as Artificial Intelligence (AI), deep technology, fintech, healthcare innovation, digital technologies, and green technologies.
• Prime Minister Modi will undertake the first-ever visit by an Indian Prime Minister to Slovakia since its independence in 1993.
• During the Slovakia visit, he will hold talks with Prime Minister Robert Fico and meet President Peter Pellegrini to enhance bilateral cooperation.
• Prime Minister Modi will participate in the G7 Summit 2026 on 16–17 June 2026, where global leaders will discuss issues such as economic growth, climate change, energy security, Artificial Intelligence, supply chain resilience, and global peace.
• He will also attend the VivaTech 2026 on 18 June 2026 in Paris, Europe’s largest technology and startup event.
• India’s participation at VivaTech will showcase achievements in Digital Public Infrastructure (DPI), Artificial Intelligence (AI), fintech, digital governance, and the startup ecosystem.

About France

• Capital: Paris
• President: Emmanuel Macron
• Prime Minister: Sébastien Lecornu.  
• Currency: Euro

About Slovakia

• Capital: Bratislava
• President: Peter Pellegrini
• Prime Minister: Robert Fico
• Currency: Euro

Union Home Minister Amit Shah Launches Land Port Management System (LPMS) ‘VINIMAY’

• Union Home Minister Amit Shah launched the Land Port Management System (LPMS) ‘VINIMAY’ in New Delhi.  
• LPMS VINIMAY is a digital platform developed to enable integrated management of cargo, passengers, vehicles, and inter-agency coordination at India’s land ports.
• The initiative is part of the Government of India’s Smart Border Strategy aimed at strengthening security, facilitating trade, and improving cross-border connectivity.
• The platform integrates various agencies and digital systems, including:
• Indian Customs Electronic Gateway (ICEGATE)
• Central Board of Indirect Taxes and Customs (CBIC)
• Border Security Force (BSF)
• Directorate General of Foreign Trade (DGFT)
• Unique Identification Authority of India (UIDAI)
• Unified Logistics Interface Platform (ULIP)
• Motor Vehicle Systems
• LPMS introduces features such as a Single Electronic Window, Automatic Number Plate Recognition (ANPR)-based gate operations, real-time data sharing, and integrated processing of cargo, vehicles, and passengers.
• The system is expected to reduce paperwork by around 90%, truck waiting time by 40–60%, and gate processing time by 22–35%.
• The platform will support India’s future Smart Security Grid through enhanced surveillance, real-time information sharing, and better coordination among border agencies.
• India’s land port trade increased from approximately ₹5,000 crore in 2014 to around ₹83,000 crore in 2026, showing significant growth in cross-border trade.
• India currently has 15 operational land ports, and the government plans to develop 11 additional land ports in the next two to three years.

About Land Ports Authority of India (LPAI)

• Established: 2012
• Act: Land Ports Authority of India Act, 2010

Uttar Pradesh Launches ‘Project Ganga’ to Expand Rural High-Speed Internet Connectivity

• The Uttar Pradesh Government launched ‘Project Ganga’ to provide high-speed internet connectivity in rural areas and bridge the digital divide.
• The project was launched by Chief Minister Yogi Adityanath in Lucknow.
• The initiative aims to establish a network of Digital Service Providers (DSPs) who will act as local digital entrepreneurs and provide internet and digital services in villages.
• Under the project, around 20 lakh rural families will receive high-speed internet connectivity.
• The government aims to create around 8,000–10,000 Digital Service Providers (DSPs) and generate over one lakh direct and indirect employment opportunities.
• The first phase of Project Ganga will cover 21 districts of Uttar Pradesh, with gradual expansion to other regions.
• The project will promote digital education, telemedicine, e-governance services, and technology-based entrepreneurship in rural areas.
• Hinduja OneOTT Intertainment Limited, the broadband arm of the Hinduja Group, has been designated as the Knowledge Partner and Implementation Enabler for the project.
• The Hinduja Group is supporting the initiative on a “No Profit, No Loss” basis to promote digital inclusion and rural development.
• Women empowerment is a major component of the project, with around 50% of beneficiaries expected to be women.
• Under the Chief Minister Yuva Scheme (CM Yuva Scheme), eligible youth can avail interest-free loans up to ₹5 lakh to establish Digital Service Provider businesses.

About Uttar Pradesh

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

RECENT NEWS

• Honorable Prime Minister of India Shri Narendra Modi have inaugurated the ambitious Ganga Expressway in Hardoi Uttar Pradesh on the 29th April, 2026. This expressway spanning around the 594 km and this six-lane (which is expandable to eight in future) expressway is one of the India’s longest greenfield corridors.

Agricultural and Processed Food Products Export Development Authority Flags Off First Commercial Export of Fresh Amrapali Mangoes from Jharkhand to the United Kingdom

• The Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry flagged off the first commercial consignment of fresh mangoes from Jharkhand to the United Kingdom (UK) at a ceremony held in Kolkata.
• The consignment consists of 1.5 metric tonnes (MT) of fresh Amrapali mangoes sourced from Beura Farmer Producer Company Limited (FPC), an all-women Farmer Producer Company located in Bano Block of Simdega district, Jharkhand.
• The mangoes are being exported by M/s JGB Agrofresh Private Limited, Kolkata, to London, United Kingdom.
• The export was facilitated through APEDA’s Export-Oriented Capacity Building Programme, which trained Farmer Producer Companies (FPCs), Farmer Producer Organisations (FPOs), and progressive farmers on export standards, quality requirements, and international market opportunities.
• The Amrapali variety of mango grown in Jharkhand is known for its superior quality characteristics and strong market acceptance.
• The initiative is expected to enhance farmers’ income, promote women-led agricultural enterprises, and increase the global presence of agricultural products from Jharkhand.

About APEDA

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

About Jharkhand

• Capital: Ranchi
• Chief Minister: Hemant Soren
• Governor: Santosh Kumar Gangwar

RECENT NEWS

• The Agricultural and Processed Food Products Export Development Authority (APEDA) has facilitated the India’s first ever shipment of botanical-infused ready to cook millet functional foods from the Karnataka to New Zealand

West Bengal Becomes Final State/Union Territory to Implement Ayushman Bharat Pradhan Mantri Jan Arogya Yojana

• The Government of West Bengal signed a Memorandum of Understanding (MoU) with the National Health Authority (NHA) under the Ministry of Health and Family Welfare for the implementation of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY).
• With this agreement, West Bengal became the 36th and final State/Union Territory (UT) to join the world’s largest publicly funded health assurance scheme.
• With the inclusion of West Bengal, all 28 States and 8 Union Territories of India are now implementing AB PM-JAY.
• The MoU ceremony was presided over by Union Health Minister J. P. Nadda.
• West Bengal had earlier implemented its own health insurance scheme ‘Swasthya Sathi’, launched in 2016, and had not adopted AB PM-JAY under the previous state government.
• Delhi became the 35th State/Union Territory to implement AB PM-JAY in March 2026.
• Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) was launched by Prime Minister Narendra Modi on 23 September 2018 from Ranchi.
• The scheme provides cashless and paperless treatment up to ₹5 lakh per family per year for secondary and tertiary healthcare services at empanelled public and private hospitals.

About National Health Authority (NHA)

• Established: 2018
• Ministry: Ministry of Health and Family Welfare
• Headquarters: New Delhi
• Chief Executive Officer (CEO): Sunil Kumar Barnwal

About West Bengal

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

RECENT NEWS

• The West Bengal Legislative Assembly has signed the Memorandum of Understanding (MoU) for the implementation of the National e-Vidhan Application (NeVA). After this signing the state of West Bengal becomes the 33rd Legislature in the India to join the NeVA initiative.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Canada Proposes New Legislation to Ban Social Media Accounts for Children Below 16

• Canada has introduced new digital safety legislation that could prohibit children below 16 years of age from having social media accounts unless companies can demonstrate that their platforms are safe for young users.
• Under the proposed law, social media companies must obtain an exemption by proving that they have implemented adequate child safety safeguards on their platforms.
• The legislation aims to strengthen online child protection and reduce exposure to harmful digital content.
• The proposed law targets seven categories of harmful content, including content that encourages self-harm, incites violence, promotes hatred, and involves non-consensual intimate images.
• The bill proposes the establishment of a Digital Safety Commission of Canada, which will oversee the implementation and regulation of online safety measures.
• According to Culture Minister Marc Miller, setting up the Digital Safety Commission may take up to 18 months.
• Platforms offering adult content will not be eligible for exemptions under the proposed legislation.
• The legislation will also regulate companies developing Artificial Intelligence (AI) chatbots, requiring them to adopt responsible practices, including crisis intervention protocols.
• Canada joins countries such as Australia, Brazil, and Indonesia, which have introduced or proposed age-based restrictions on children's access to social media.
• Other countries including Britain, France, Spain, Denmark, Thailand, and South Korea are currently studying or developing similar online safety measures.

About Canada:

• Capital: Ottawa
• Currency: Canadian Dollar (CAD)
• Prime Minister: Mark Carney

Nepal Foreign Minister Shisir Khanal Concludes Official Visit to India, Strengthening Bilateral Cooperation

• Shisir Khanal, Foreign Minister of Nepal, paid a 3-day official visit to India from 5–7 June 2026 at the invitation of Dr. S. Jaishankar, Union Minister of External Affairs (MEA).
• During the visit, Shisir Khanal held bilateral talks with External Affairs Minister Dr. S. Jaishankar in New Delhi, where both sides reviewed the entire spectrum of India–Nepal bilateral relations.
• The discussions covered key areas including development cooperation, connectivity, trade and transit, energy cooperation, and people-to-people ties.
• The Nepalese Foreign Minister also held a high-level meeting with Ajit Doval, National Security Advisor (NSA) of India, to discuss matters of mutual interest.
• A major outcome of the visit was the launch of Person-to-Person (P2P) linkage between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI), strengthening cross-border digital payments.
• India and Nepal signed a Memorandum of Understanding (MoU) between the Digital India BHASHINI Division (DIBD) under MeitY and Kathmandu University’s Centre for Digital Public Infrastructure and Artificial Intelligence (DPI-AI).
• The MoU aims to jointly develop multilingual language technologies and strengthen Digital Public Infrastructure (DPI) and Artificial Intelligence (AI) cooperation between the two countries.
• During the visit, 84 India-funded reconstruction projects completed under the post-2015 Nepal Earthquake reconstruction programme were formally handed over to Nepal.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese rupee (NPR)
• President: Ram Chandra Paudel
• Prime Minister: Balendra Shah

CURRENT AFFAIRS: AWARDS AND HONOURS

Prime Minister Narendra Modi Becomes India’s Longest Continuously Serving Elected Prime Minister

• Prime Minister Narendra Modi achieved a historic milestone by completing 4,399 consecutive days in office.
• With this achievement, he surpassed the record of Jawaharlal Nehru, who served 4,398 consecutive days as an elected Prime Minister from 13 May 1952 to 27 May 1964.
• Narendra Modi assumed office as Prime Minister on 26 May 2014 after leading the Bharatiya Janata Party (BJP) to victory in the Lok Sabha elections.
• He became the first non-Congress Prime Minister to complete two consecutive full-majority terms.
• He is also the first Prime Minister after Jawaharlal Nehru to win three consecutive Lok Sabha elections as the incumbent leader in 2014, 2019, and 2024.
• Earlier, in July 2025, Prime Minister Modi surpassed the uninterrupted tenure record of Indira Gandhi, who served continuously for 4,077 days from 24 January 1966 to 24 March 1977.
• In March 2026, Narendra Modi became the longest-serving head of an elected government in India, surpassing Pawan Kumar Chamling with a combined tenure as Gujarat Chief Minister and Prime Minister.
• Narendra Modi served as the Chief Minister of Gujarat from October 2001 to May 2014 before becoming the Prime Minister.
• Despite this achievement, Jawaharlal Nehru remains India’s longest-serving Prime Minister overall, serving for 6,131 days from 15 August 1947 to 27 May 1964.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Reliance Industries and Meta Partner to Establish AI-Enabled Hyperscale Data Centre in Gujarat

• Reliance Industries Limited (RIL) and Meta Platforms have announced a strategic partnership to develop an AI-enabled hyperscale data centre in Jamnagar.
• The upcoming facility will have an initial capacity of 168 megawatts (MW) and is expected to be completed within the next two years.
• The project will be Meta’s first built-to-suit data centre in India, specifically designed to meet the company’s Artificial Intelligence (AI) and high-performance computing requirements.
• Meta will lease capacity from the data centre to support its expanding AI workloads, cloud services, and data processing needs.
• The project is one of India’s largest AI infrastructure investments and highlights India’s growing role in the global Artificial Intelligence ecosystem.
• Jamnagar has been chosen due to advantages such as availability of renewable energy, access to desalinated water, proximity to western submarine cable landing stations, and connectivity through Jio’s fibre network.
• The data centre will focus on sustainable operations using renewable energy and desalinated seawater-based cooling systems to reduce freshwater consumption and carbon emissions.
• Reliance Industries will be responsible for infrastructure development, renewable power supply, utility management, network connectivity, operations, and maintenance of the facility.

About Reliance Industries Limited (RIL)

• Founded: 1966
• Founder: Dhirubhai Ambani
• Headquarters: Mumbai
• Chairman & Managing Director: Mukesh Ambani

About Meta Platforms

• Founded: 2004
• Headquarters: Menlo Park
• Founder & Chief Executive Officer (CEO): Mark Zuckerberg

Himachal Pradesh Signs Memorandum of Understanding with United Nations Development Programme for Climate-Resilient and Sustainable Development

• The Himachal Pradesh Government signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) to promote climate-resilient, inclusive, and sustainable development across the state.
• The partnership will focus on key areas such as circular economy, waste management, electric mobility for waste collection, biodiversity conservation, ecosystem restoration, and sustainable livelihoods.
• The initiative aims to strengthen ecological governance and ensure the participation of women, marginalised communities, and informal workers in sustainable development activities.
• Chief Minister Sukhvinder Singh Sukhu launched the ‘Safai Mitra Scheme’ to empower informal waste management workers and improve their dignity, safety, and socio-economic conditions.
• The collaboration is expected to support Himachal Pradesh’s efforts towards environmental conservation and inclusive green development.

About United Nations Development Programme (UNDP)

• Founded: 1965
• Headquarters: New York City

About Himachal Pradesh

• Capital: Shimla (Summer) and Dharamshala (Winter)
• Chief Minister: Sukhvinder Singh Sukhu
• Governor: Kavinder Gupta

Air India and Riyadh Air Sign Memorandum of Understanding to Enhance Connectivity Between India and Saudi Arabia

• Air India and Riyadh Air signed a Memorandum of Understanding (MoU) to establish a strategic partnership aimed at enhancing connectivity between India, Saudi Arabia, and other global destinations.
• The partnership will leverage the strategic locations of the airlines’ hubs in Delhi, Mumbai, and Riyadh.
• Subject to regulatory approvals, both airlines plan to introduce interline and codeshare agreements to provide seamless travel across their networks.
• The arrangements will allow passengers to travel on a single booking with smoother onward connections through their respective hubs.
• The two airlines will also explore cooperation in:
• Reciprocal loyalty programme benefits
• Cargo services
• Operational support
• Digital and technology initiatives
• Customer experience enhancement
• The partnership is expected to strengthen air connectivity, boost tourism, and facilitate business travel between India and Saudi Arabia.
• Since its privatization in 2022, Air India has established 25 codeshare partnerships and more than 120 interline agreements with airlines worldwide.

About Air India

• Headquarters: New Delhi
• Parent Company: Tata Group
• Managing Director & Chief Executive Officer (CEO): Campbell Wilson
• Founded: 1932

About Riyadh Air

• Headquarters: Riyadh
• Founded: 2023
• Country: Saudi Arabia
• Chief Executive Officer (CEO): Tony Douglas

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

President Lee Jae Myung Selects Han Seong-sook to Serve as South Korea’s Prime Minister

• South Korean President Lee Jae Myung has nominated Han Seong-sook as the country’s next Prime Minister (PM), following reports that incumbent PM Kim Min-seok is stepping down from the position.
• If approved by the National Assembly of South Korea, Han Seong-sook will become the second woman Prime Minister in South Korea’s history.
• She will follow Han Myeong-sook, who served as South Korea’s first female Prime Minister from 2006 to 2007.
• Han Seong-sook is currently serving as Minister for Small and Medium-sized Enterprises (SMEs) under the administration of President Lee Jae Myung.
• Presidential Chief of Staff Kang Hoon-sik highlighted her extensive technology-sector experience, stating that she is well positioned to lead South Korea’s transition into the Artificial Intelligence (AI) era and promote inclusive economic growth.
• Han Seong-sook began her professional career in 1989 as a reporter with Mincom and later worked for PC Line before heading public relations at Nanum Technology in 1995.
• In 2017, she became the first woman Chief Executive Officer (CEO) of Naver Corporation, South Korea’s leading internet company, after previously serving as its Vice President.
• Before entering government service, she spent most of her career in the technology and digital industry, gaining expertise in internet services, innovation, and digital transformation.
• She assumed the position of Minister for SMEs when the Lee Jae Myung administration took office in 2025.

About South Korea:

• Capital: Seoul
• Currency: Korean Republic won (KRW)

CURRENT AFFAIRS : APPS & PORTALS

Union Minister Piyush Goyal Launches BHAVYA Portal to Operationalise Bharat Audyogik Vikas Yojana

• Union Minister Piyush Goyal, Ministry of Commerce & Industry (MoC&I), launched the BHAVYA Portal in New Delhi to operationalise the Bharat Audyogik Vikas Yojana (BHAVYA).

Key Highlights :

• The BHAVYA Scheme has a total outlay of ₹33,660 crore and aims to develop 100 world-class investment-ready industrial parks across India over a period of six years.
• The portal will serve as a single digital interface for Detailed Project Report (DPR) submission, project appraisal, evaluation, monitoring, and reporting throughout the project lifecycle.
• National Industrial Corridor Development Corporation (NICDC) has been designated as the Project Management Agency (PMA) for implementation and monitoring of the scheme.
• The scheme is being implemented under the Department for Promotion of Industry and Internal Trade (DPIIT) through a 51:49 Centre–State partnership model.
• State Governments will provide land for industrial parks, while the Government of India will support infrastructure development through NICDC.
• The scheme follows a challenge-based competitive selection model, encouraging States and Union Territories to submit proposals based on industrial strengths, land availability, investor interest, and sectoral potential.
• The Government of India will provide support of up to ₹1 crore per acre for core infrastructure, value-added infrastructure, and social infrastructure within industrial parks.
• Up to 25% of project cost can be utilised for external connectivity infrastructure, including road, rail, and other transport links.
• The industrial parks will be developed as plug-and-play industrial ecosystems with assured water supply, power supply, road connectivity, rail connectivity, digital governance systems, and single-window clearances.
• The scheme will support sectors such as manufacturing, chemicals, data centres, MSMEs, startups, deep-tech enterprises, research & development (R&D), and innovation-driven industries.
• The parks will include multimodal connectivity, reliable utilities, worker-support facilities, digital infrastructure, and sustainable development features.
• Industrial park sizes will vary from 25 acres in hilly regions, Union Territories, and Northeastern States to 1,000 acres near major urban centres.
• The scheme will promote the establishment of modern testing and certification facilities in collaboration with BIS, Export Inspection Agency (EIA), and FSSAI.
• The Government will also explore Global Capability Centres (GCCs), worker housing facilities, and dedicated international industrial enclaves in partnership with countries such as Japan, Singapore, Republic of Korea, and Switzerland.
• The scheme incorporates digital mapping, satellite-based land assessment, and online information systems to provide investors with real-time details on land availability and infrastructure.
• Applications received between 1 June and 31 July 2026 will be considered for the first phase of 20 industrial parks, while an additional 30 parks will be selected from applications received up to 30 September 2026.
• The operational guidelines for BHAVYA were released by DPIIT in May 2026, and the launch of the portal marks the next major step in implementation.
• The BHAVYA Scheme is aligned with the vision of Viksit Bharat 2047 and aims to make India a globally competitive manufacturing hub through world-class industrial infrastructure.

About Ministry of Commerce & Industry :

• Cabinet Minister : Piyush Goyal
• Minister of State : Jitin Prasada

CURRENT AFFAIRS : DEFENCE NEWS

24 Indian Crew Members Rescued Safely After Attack on Merchant Vessel Near Oman Through Joint India–Oman Efforts

• The Maritime Rescue Coordination Centre (MRCC), Mumbai of the Indian Coast Guard (ICG) received information about a missile attack on the Palau-flagged tanker MT Marivex at approximately 1420 hours on 8 June 2026.
• The MT Marivex was anchored off Masirah and had 24 Indian crew members on board at the time of the incident.
• Following the alert, MRCC Mumbai immediately established communication with the Oman Maritime Search and Rescue Centre (OMSC) and closely monitored the situation.
• The Indian Coast Guard maintained continuous coordination with OMSC Oman and other relevant stakeholders to ensure the safety of the Indian crew members.
• At approximately 1700 hours, OMSC Oman confirmed that all 24 Indian crew members had been successfully rescued by helicopters of the Oman Navy.
• The rescue operation was completed without any casualties or injuries, and all rescued personnel were reported to be safe.
• The MT Marivex remained anchored off Masirah, Oman, following the rescue operation.
• The successful operation demonstrated the importance of international maritime cooperation and effective coordination among regional maritime rescue authorities.
• The incident highlighted the Indian Coast Guard’s commitment to safeguarding Indian seafarers and ensuring timely assistance during maritime emergencies.

Raksha Mantri Rajnath Singh to Review Combined Graduation Parade at Air Force Academy, Dundigal on 13 June 2026

• The Combined Graduation Parade (CGP) of 217 Course will be held at the Air Force Academy (AFA), Dundigal, Hyderabad on 13 June 2026, marking the successful completion of pre-commissioning training of Flight Cadets of the Indian Air Force (IAF).
• Raksha Mantri Rajnath Singh will be the Reviewing Officer (RO) and will confer the President’s Commission to the graduating trainees during the parade.
• The ceremony will include the presentation of ‘Wings’ and ‘Brevets’ to IAF Flight Cadets, as well as officers and trainees of the Indian Navy, Indian Coast Guard, and the Socialist Republic of Vietnam.
• The CGP 2026 will mark the commissioning of the first batch of women cadets from the National Defence Academy (NDA), Pune, who passed out on 30 May 2025 and subsequently underwent branch-specific training at AFA.
• The President’s Plaque will be awarded to the Flight Cadets securing first position in the overall order of merit in the Flying, Navigation Stream, and Ground Duty branches.
• The event will begin with special performances by the Akash Ganga Team and the Air Warrior Drill Team (AWDT), showcasing military precision and discipline.
• The fly-past will be led by the Chief of the Air Staff (CAS), Air Chief Marshal A.P. Singh, highlighting the operational and training capabilities of the IAF.
• The fly-past will feature four trainer aircraft types: Pilatus PC-7 MkII, Hawk, Kiran, and Chetak
• Major attractions of the ceremony will include aerial displays by the Su-30 MKI fighter aircraft, Sarang Helicopter Display Team, and the Suryakiran Aerobatic Team (SKAT).
• The CGP 2026 will be streamed live on the Indian Air Force’s social media platforms and DD National on 13 June 2026 from 0700 hrs.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Scientists Study Uranus’ Moons and Rings to Investigate Possible Lost Giant Planets in the Early Solar System

• Scientists in June 2026 studied Uranus’ moon dynamics, ring structure, and planetary formation models to examine whether the early Solar System contained additional giant planets that were later ejected into interstellar space.
• The research, published in the peer-reviewed journal Icarus, used 122 simulations of Solar System evolution and compared them with the present-day arrangement of Uranus and its moons.

Key Highlights :

• Uranus is the seventh planet from the Sun and is one of the four outer giant planets of the Solar System.
• Uranus belongs to the Ice Giant class of planets, along with Neptune.
• A 2026 study by Yamila Miguel and other researchers examined whether the outer shells of Uranus and Neptune contain significant amounts of rock, hydrogen, and helium gas.
• Uranus has 29 known moons, with major moons including Miranda, Ariel, Umbriel, Titania, and Oberon.
• The planet has an unusual axial tilt of about 98 degrees, making it one of the most distinctive planets in the Solar System and causing extreme seasonal variations.
• The simulations suggested that the Uranian moon system would likely have been disrupted unless one or more giant planets were removed from the Solar System during its early history.
• Miranda, one of Uranus’ major moons, is particularly important for research because its surface shows evidence of past disruption and reassembly.
• The moons of Jupiter and Uranus are frequently used in comparative studies of planetary migration and orbital instability during the first 3–4 billion years of Solar System history.
• Uranus possesses a system of narrow rings, which were first discovered in 1977 through Earth-based observations.
• Observations conducted in 2026 indicated that the outer rings of Uranus may contain evidence of additional undiscovered moons, as small satellites can influence ring edges and gaps through gravitational interactions.
• Planetary rings are composed of ice, dust, and rocky particles, and their structure is often shaped by the gravity of nearby moons.
• Uranus is the only planet whose rings were discovered from Earth before being visited by a spacecraft.
• Voyager 2 flew past Uranus in 1986 and remains the only spacecraft to have visited the planet.
• Icarus is a peer-reviewed scientific journal that publishes research related to planetary science, Solar System studies, and planetary formation.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Oman India Joint Investment Fund II Sells 3.65% Holding in Capital Small Finance Bank to Lyptus Punch-Card Fund

• Oman India Joint Investment Fund II (OIJIF II), a private equity fund promoted by the sovereign wealth fund of the Sultanate of Oman and the State Bank of India (SBI), sold its 3.65% stake in Capital Small Finance Bank (SFB).
• Capital Small Finance Bank (SFB) is one of India's leading Small Finance Banks, with a strong focus on Retail Banking and Micro, Small and Medium Enterprises (MSMEs).
• As part of the transaction, Lyptus Punch-Card Fund acquired the entire 3.65% stake divested by OIJIF II.
• The deal involved the sale of approximately 1.36 million shares of Capital SFB.
• The shares were sold at a price of ₹270 per share.
• The total transaction value of the stake sale was approximately ₹36.79 crore.
• The block deal was executed through the National Stock Exchange of India Limited (NSE).
• The transaction was carried out at a 1.11% discount to the closing price of Capital SFB shares on the day of the deal.
• OIJIF II is a notable India-Oman investment platform that supports investments in promising Indian businesses through private equity funding.

CURRENT AFFAIRS : OBITUARIES

Padma Shri Recipient and Renowned Tamil Director Bharathiraja Passed away at 85

• Veteran Tamil filmmaker, director, producer, screenwriter, and actor Bharathiraja passed away at the age of 85 in Chennai, Tamil Nadu (TN).

About Actor Bharathiraja :

• Bharathiraja was born as Chinnasamy on 17 July 1941 in Theni Allinagaram, Tamil Nadu.
• He was honoured with the Padma Shri, India's fourth-highest civilian award, in 2004 by the Government of India (GoI) for his contribution to the field of Arts.
• Bharathiraja made his directorial debut with "16 Vayathinile" (1977), a landmark film in Tamil cinema.
• During his illustrious career, he directed more than 40 films across Tamil, Telugu, and Hindi cinema.
• Apart from directing, Bharathiraja also had a successful acting career in the Indian film industry.
• His last released film as an actor was "Thudarum", while "Pulavar" remains his final unreleased project.
• He won six National Film Awards in the years 1982, 1986, 1988, 1995, 1996, and 2001.
• He received three Filmfare Awards South in 1978, 1987, and 1994 for Best Director and Best Film
• Bharathiraja was also honoured with several Tamil Nadu State Film Awards, including the prestigious Arignar Anna Award in 2001.

Daily CA One- Liner: June 12

• Prime Minister Narendra Modi will undertake a six-day visit to France and Slovakia from 13–18 June 2026 to strengthen India’s strategic partnerships with European countries
• Union Home Minister Amit Shah launched the Land Port Management System (LPMS) ‘VINIMAY’ in New Delhi
• The Uttar Pradesh Government launched ‘Project Ganga’ to provide high-speed internet connectivity in rural areas and bridge the digital divide
• The Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry flagged off the first commercial consignment of fresh mangoes from Jharkhand to the United Kingdom (UK) at a ceremony held in Kolkata
• The Government of West Bengal signed a Memorandum of Understanding (MoU) with the National Health Authority (NHA) under the Ministry of Health and Family Welfare for the implementation of Ayushman Bharat Pradhan Mantri Jan Arogya Yojana
• Prime Minister Narendra Modi achieved a historic milestone by completing 4,399 consecutive days in office
• Reliance Industries Limited (RIL) and Meta Platforms have announced a strategic partnership to develop an AI-enabled hyperscale data centre in Jamnagar
• The Himachal Pradesh Government signed a Memorandum of Understanding (MoU) with the United Nations Development Programme (UNDP) to promote climate-resilient, inclusive, and sustainable development across the state
• Air India and Riyadh Air signed a Memorandum of Understanding (MoU) to establish a strategic partnership aimed at enhancing connectivity between India, Saudi Arabia, and other global destinations.
• Viyona Fintech India Private Limited, an National Payments Corporation of India (NPCI)-certified Technology Service Provider, received certification as a Biller Operating Unit (BOU) under the Bharat Bill Payment System (BBPS).
• Fitch Ratings, an American credit rating agency, released its June 2026 Global Economic Outlook (GEO) and revised India’s Gross Domestic Product (GDP) growth forecast for Financial Year 2026-27 (FY27) downward by 30 basis points (bps) to 6.4%, from its earlier estimate of 6.7%.
• The Reserve Bank of India (RBI) recognised Sahamati Foundation as the Self-Regulatory Organisation (SRO) for India’s Account Aggregator (AA) ecosystem, creating a formal industry-led governance framework for the country’s consent-based financial data-sharing network.
• Canada has introduced new digital safety legislation that could prohibit children below 16 years of age from having social media accounts unless companies can demonstrate that their platforms are safe for young users.
• Shisir Khanal, Foreign Minister of Nepal, paid a 3-day official visit to India from 5–7 June 2026 at the invitation of Dr. S. Jaishankar, Union Minister of External Affairs (MEA).
• South Korean President Lee Jae Myung has nominated Han Seong-sook as the country’s next Prime Minister (PM), following reports that incumbent PM Kim Min-seok is stepping down from the position.
• Union Minister Piyush Goyal, Ministry of Commerce & Industry (MoC&I), launched the BHAVYA Portal in New Delhi to operationalise the Bharat Audyogik Vikas Yojana (BHAVYA).
• The Maritime Rescue Coordination Centre (MRCC), Mumbai of the Indian Coast Guard (ICG) received information about a missile attack on the Palau-flagged tanker MT Marivex at approximately 1420 hours on 8 June 2026.
• The Combined Graduation Parade (CGP) of 217 Course will be held at the Air Force Academy (AFA), Dundigal, Hyderabad on 13 June 2026, marking the successful completion of pre-commissioning training of Flight Cadets of the Indian Air Force (IAF).
• Scientists in June 2026 studied Uranus’ moon dynamics, ring structure, and planetary formation models to examine whether the early Solar System contained additional giant planets that were later ejected into interstellar space.
• Oman India Joint Investment Fund II (OIJIF II), a private equity fund promoted by the sovereign wealth fund of the Sultanate of Oman and the State Bank of India (SBI), sold its 3.65% stake in Capital Small Finance Bank (SFB).
• Veteran Tamil filmmaker, director, producer, screenwriter, and actor Bharathiraja passed away at the age of 85 in Chennai, Tamil Nadu (TN).