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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India-Nepal Introduce Unified Payments Interface-National Payments Interface Cross-Border Remittance System to Enhance Financial Integration

• India and Nepal officially launched a Peer-to-Peer (P2P) Cross-Border Remittance Mechanism on 6 June 2026.
• The new system establishes a direct linkage between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI).

Key Highlights :

• The UPI-NPI Integration enables seamless, Real-Time, Secure, and Instant Money Transfers between citizens of both countries through Mobile Banking Applications and Digital Wallets.
• The initiative is a major step towards enhancing Digital Financial Connectivity, Financial Inclusion, and Neighbourhood Cooperation.
• The linkage strengthens the Economic, Financial, and Digital Relationship between India and Nepal.
• The technical integration was implemented through collaboration between NPCI International Payments Limited (NIPL) and Nepal Clearing House Limited (NCHL).
• NIPL is the international arm of the National Payments Corporation of India (NPCI).
• The new payment corridor supports the regional objective of providing Accessible, Safe, Affordable, and Efficient Cross-Border Payments.
• The mechanism enables Real-Time Direct Transfers, reducing dependence on traditional banking channels.
• The system eliminates the need to carry Physical Cash across borders and minimizes foreign exchange-related inconveniences.
• The initiative provides Enhanced Convenience for Travellers by allowing digital payments through familiar payment platforms.
• The linkage is expected to boost local businesses in Nepal by increasing access to Indian Tourists and Consumers.
• Nepalese merchants will benefit from Higher Transaction Volumes, Improved Cash Management, and Instant Settlement of Transactions.
• The system also reduces operational costs associated with Physical Cash Handling.
• UPI is currently accepted in 9 Countries Worldwide.
• The countries where UPI Acceptance is available are Singapore, United Arab Emirates (UAE), France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, and Cambodia.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Emergency Credit Line Guarantee Scheme 5.0 Surpasses One Lakh Guarantees, Extending Credit Protection of Over ₹48,000 Crore

• The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 was approved by the Union Cabinet on 05 May 2026 to provide additional credit support to businesses affected by the West Asia Crisis.

Key Highlights :

• As of 09 June 2026, the total number of guarantees issued under ECLGS 5.0 crossed the 1 lakh mark, reaching 1,06,549 guarantees.
• The total amount of guarantees issued under the scheme stands at ₹48,484.26 Crore.
• The MSME Sector is the major beneficiary, accounting for 96% of guarantees by number and 86% of the total guaranteed amount.
• Public Sector Banks (PSBs) played a key role in implementation, accounting for 96% of the guarantees issued under the scheme.
• The scheme provides 100% Guarantee Coverage for MSMEs and 90% Guarantee Coverage for Non-MSME Sectors, encouraging financial institutions to extend credit.
• ECLGS 5.0 aims to infuse an additional ₹2,55,000 Crore of credit to existing borrowers facing liquidity challenges.
• The scheme was launched to help businesses overcome Liquidity Constraints arising from the West Asia Crisis.
• A major strength of the scheme is its Wide Institutional Participation, involving PSU Banks, Private Sector Banks, Regional Rural Banks (RRBs), Small Finance Banks (SFBs), and Non-Banking Financial Companies (NBFCs).
• Member Lending Institutions (MLIs) actively promoted the scheme through websites, emails, SMS campaigns, and customer outreach programmes.
• The Department of Financial Services (DFS) facilitated Outreach Programmes at nine locations through State Level Bankers' Committees (SLBCs).
• These outreach programmes involved participation from the National Credit Guarantee Trustee Company (NCGTC), PSB Alliance Team, State MSME Departments, Commerce Departments, Banks, Industry Associations, and Enterprises.
• Phase-II of the Outreach Programme is currently under active consideration to further expand awareness and participation.
• The success of ECLGS 5.0 highlights the Government's commitment to creating a supportive credit ecosystem, ensuring financial stability, business continuity, and economic resilience.

Recent News :

• In May 2026,The Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Emergency Credit Line Guarantee Scheme (ECLGS 5.0) to address short-term liquidity challenges arising due to the West Asia crisis.

Government Prolongs Credit Guarantee Scheme for Microfinance Institutions-2.0 Tenure and Enhances Loan Ceiling for Microfinance Institutions

• The Government of India (GoI) has approved the extension of the Credit Guarantee Scheme for Microfinance Institutions (CGSMFI-2.0) until 31 August 2026 or until guarantees worth ₹20,000 Crore are issued, whichever is earlier.
• The Government has also increased the Maximum Loan Amount Cap for Large-Sized NBFC-MFIs/MFIs from ₹300 Crore to ₹1,000 Crore, subject to the overall ceiling of 20% of Assets Under Management (AUM).
• The extension and enhanced loan limit are expected to improve Scheme Utilisation and facilitate greater Credit Flow to the Microfinance Sector.
• CGSMFI-2.0 was launched by the Central Government on 20 March 2026.
• The scheme provides Credit Guarantee Cover to Banks and Financial Institutions (FIs) through the National Credit Guarantee Trustee Company Limited (NCGTC).
• The objective of the scheme is to protect lenders against expected losses on financial assistance provided to Non-Banking Financial Company-Microfinance Institutions (NBFC-MFIs) and Microfinance Institutions (MFIs).
• These institutions use the funds for On-Lending to Small Borrowers, thereby improving financial inclusion.
• As of the latest update, loans totaling ₹770 Crore have been sanctioned under the scheme.

Salient Features of CGSMFI-2.0 :

• Eligible Borrowers: Existing and new Small Borrowers falling within the RBI’s Regulatory Definition of Microfinance.
• Guarantee Coverage: Up to 80% of Amount in Default for Small NBFC-MFIs/MFIs, 75% for Medium NBFC-MFIs/MFIs, and 70% for Large NBFC-MFIs/MFIs.
• Guarantee Fee: Fixed at 0.50% per annum, charged on the Sanctioned Amount during the First Year and on the Outstanding Amount thereafter.
• Interest Rate for Lending Institutions: Capped at EBLR (External Benchmark Lending Rate) or MCLR (Marginal Cost of Funds Based Lending Rate) + 2% per annum.
• On-Lending Interest Rate: MFIs/NBFC-MFIs must lend to small borrowers at an interest rate 1% below their average lending rate of the previous six months.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Union Government Announces ₹95,692 Crore Interim Allocation Under Viksit Bharat – Gramin Bharat Initiative

• Union Minister for Agriculture & Farmers Welfare and Rural Development Shivraj Singh Chouhan chaired a meeting of State Rural Development Ministers through video conferencing regarding the implementation of Viksit Bharat – Gramin Bharat (VBG).
• The new arrangement under Viksit Bharat – Gramin Bharat will come into effect from 1 July 2026, aiming to strengthen rural employment, workers’ welfare, and overall village development.
• The Central Government emphasized that there should be no disruption in employment generation, wage payments, or workers’ rights during the transition.
• The Government has already allocated ₹30,000 crore under the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
• An additional interim allocation of ₹95,692.31 crore was released to States and Union Territories, taking the total allocation to over ₹1.25 lakh crore.
• The funds will reach around 2.80 lakh Gram Panchayats to support employment generation and creation of durable rural assets.
• States were directed to provide advance approval of works, complete 100% e-KYC, notify agricultural peak seasons, and conduct capacity-building and awareness programmes at district and block levels.
• Digital preparedness, including Direct Benefit Transfer (DBT), Short Message Service (SMS)-based information systems, e-KYC, and face authentication, has been strengthened to ensure smooth implementation.
• 26 States have already made budgetary provisions for the initiative, while Jharkhand, Karnataka, Telangana, and Mizoram were urged to complete the process.
• Mizoram, Puducherry, and Andhra Pradesh were appreciated for issuing State-level notifications for implementation.
• A National Rural Development Conference will be held at PUSA Institute, New Delhi, on 28–29 June 2026 to discuss the effective implementation of the initiative.

Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA)

• Launched: 2005 (Implemented from 2 February 2006)
• Ministry: Ministry of Rural Development
• Objective: To provide a legal guarantee of 100 days of wage employment annually to rural households willing to undertake unskilled manual work.
• Coverage: All rural districts across India

11th NITI Aayog Governing Council Meeting Held Under the Chairmanship of Prime Minister Narendra Modi

• Prime Minister Shri Narendra Modi chaired the 11th Governing Council Meeting of NITI Aayog at the Rashtrapati Bhavan Cultural Centre, New Delhi.
• The theme of the meeting was “Inclusive Human Development for Viksit Bharat@2047.”
• The meeting was attended by Chief Ministers, Lieutenant Governors, and Administrators from 28 States and 5 Union Territories.
• It marked the first time that Chief Ministers of all 28 States participated in the Governing Council meeting.
• The Prime Minister emphasized that the vision of Viksit Bharat@2047 should become a collective mission for every State, district, block, and village through the spirit of cooperative federalism.
• The Prime Minister urged States to focus on:
• Quality education and skill development to convert India’s demographic dividend into a development dividend.
• Adoption of global best practices, especially in renewable energy and governance reforms.
• Preparing youth for emerging sectors such as Artificial Intelligence (AI), data centres, and defence manufacturing.
• Attracting foreign investments and promoting export-oriented industries by utilizing opportunities arising from Free Trade Agreements (FTAs).
• Strengthening the One District One Product (ODOP) initiative to promote local products and exports.
• The Prime Minister called for increasing the number of Lakhpati Didis from 3 crore to 6 crore, promoting women-led development and greater economic participation of women.
• The meeting also discussed emerging challenges such as drug abuse, cyber fraud, and digital crimes, highlighting the need for preventive measures and public awareness.

About NITI Aayog

• Established: 1 January 2015
• Headquarters: New Delhi
• Chairperson: Prime Minister of India
• Vice Chairperson: Ashok Kumar Lahiri
• Chief Executive Officer (CEO): Nidhi Chhibber

RECENT NEWS

• India started to preparing the massive economic transformation as the NITI Aayog has introduced the new two-phase strategy for the Digital Public Infrastructure (DPI). This new DPI phase will aims to turn the country into the $30 trillion economy by the year 2047. 

IIT Bhubaneswar Develops ‘ArsenSafe’ Portable Device for Detecting Arsenic in Drinking Water

• The Indian Institute of Technology (IIT) Bhubaneswar developed ‘ArsenSafe’, a portable device capable of detecting arsenic contamination in drinking water without the need for laboratory facilities.
• The technology was developed by the Sensors and Spectroscopy Research Group of IIT Bhubaneswar in collaboration with Nano Semic Private Limited, a startup incubated at the institute’s Research and Entrepreneurship Park.
• ArsenSafe provides a rapid, affordable, and highly sensitive on-site testing solution, especially useful for rural and resource-constrained areas.
• The device uses an advanced reduced graphene oxide (rGO)-based sensing platform and a liquid-gated reduced graphene oxide field-effect transistor (rGO-FET) sensor to detect extremely low concentrations of arsenic.
• The technology combines nanotechnology, reduced graphene oxide (rGO), graphene oxide (GO) dielectric layers, and machine learning to improve the sensitivity and accuracy of water quality monitoring.
• ArsenSafe is portable, cost-effective, easy to operate, and does not require sophisticated laboratory infrastructure.
• The device demonstrated a maximum response of 500% at 40 parts per million (ppm) arsenic concentration, with a response time of 17.4 seconds and a recovery time of 11.76 seconds.
• Long-term exposure to arsenic-contaminated water can cause health problems such as arsenicosis, skin diseases, cardiovascular disorders, neurological problems, and various forms of cancer.
• The research was published in the journal Environmental Science: Nano of the Royal Society of Chemistry (RSC) and was selected for its special “Nanosensing” themed collection.

About Odisha

• Capital: Bhubaneswar
• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati

RECENT NEWS

• India has strengthened the semiconductor manufacturing hub by signing of the $3.3 billion agreement between the Odisha Government, Intel Corporation, and US-based 3D Glass Solutions Inc. This project aims to establish the advanced packaging glass core substrate manufacturing facility in the Bhubaneswar-Khurda region.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Venezuela’s Acting President Delcy Rodríguez Visits India to Strengthen Energy Ties

• Delcy Eloína Rodríguez Gómez, Acting President of Venezuela, paid a 5-day working visit to India from 3–7 June 2026 with a primary focus on strengthening India–Venezuela energy cooperation.
• This was her sixth visit to India, having previously visited as Foreign Minister (2015) and as Vice President (2019, 2023, 2024 and 2025).
• During the visit, Delcy Rodríguez held bilateral talks with Prime Minister Narendra Modi at Hyderabad House, New Delhi, where both leaders reviewed the entire spectrum of India–Venezuela relations.
• The discussions focused on enhancing cooperation in energy security, trade and investment, pharmaceuticals, healthcare, transportation, and renewable energy.
• Delcy Rodríguez also met Union Minister Dr. S. Jaishankar, Minister of External Affairs, to discuss bilateral cooperation and regional issues.
• During her stay in India, she paid homage to Mahatma Gandhi at Rajghat, New Delhi.
• The Venezuelan delegation included the Ministers of Foreign Affairs, Economy & Finance, Science & Technology, Communication & Information, and Transportation.
• As part of the visit, she toured the Jamnagar Refinery in Gujarat, owned by Reliance Industries Limited (RIL), which is recognized as the world’s largest single-location oil refining complex.
• The delegation also visited facilities related to energy, pharmaceuticals, and the automobile sector to explore new avenues of industrial and technological collaboration.
• India and Venezuela maintain strong ties in the energy sector, with Indian public sector companies having significant investments in Venezuela’s oil industry.
• Bilateral trade between India and Venezuela reached USD 678.94 million in FY 2025–26.
• In May 2026, Venezuela became India’s third-largest supplier of crude oil, highlighting the growing importance of energy relations between the two countries.

About Venezuela :

• Capital : Caracas
• Currency : Venezuelan bolívar

CURRENT AFFAIRS : DEFENCE NEWS

Ministry of Defence Signs ₹449 Crore Deal with Accord Software and Systems Private Limited to Procure 20 Indigenous Enhanced Capability Global Navigation Satellite System Jammers for the Indian Navy

• The Ministry of Defence (MoD) signed a contract with Accord Software and Systems Private Limited (ASSPL), Bengaluru for the procurement of 20 Enhanced Capability Global Navigation Satellite System (ECGNSS) Jammers for the Indian Navy.
• The total value of the contract is ₹449 Crore with a minimum 75% Indigenous Content.
• The contract was signed under the Buy (Indian–Indigenously Designed, Developed and Manufactured-IDDM)
• The agreement was signed in the presence of Rajesh Kumar Singh, Defence Secretary, in New Delhi on 10 June 2026.
• The ECGNSS Jammers are advanced Electronic Warfare (EW) Systems designed to disrupt, degrade, and manipulate enemy satellite navigation signals.
• The system can degrade satellite signal acquisition and tracking performance of adversary Global Navigation Satellite System (GNSS) Receivers.
• A key feature of the system is Signal Spoofing (Deceptive Jamming), which can mislead enemy navigation and targeting systems.
• The induction of these jammers will enable Safer Operations of Indian Navy Ships in a Multi-Threat Environment.
• The procurement will significantly strengthen the Electronic Warfare Capabilities of the Indian Navy.
• The project supports the Government of India's Aatmanirbhar Bharat and Make in India
• The contract represents an important step towards Indigenisation of Advanced Defence Technologies in India.
• The acquisition will further strengthen India's Maritime Security Architecture and overall Defence Preparedness.

MSMEs and Start-ups to Participate in Defence Procurement,Innovations for Defence Excellence, Technology Perspective Capability Roadmap and Testing Procedures Workshop

• A Workshop on Defence Procurement, Innovations for Defence Excellence (iDEX), Technology Perspective Capability Roadmap (TPCR), and Testing Procedures for MSMEs & Start-ups is being held at Manekshaw Centre, Delhi Cantt on 11–12 June 2026.
• The workshop is jointly organised by the Indigenisation Directorate, Headquarters Integrated Defence Staff (HQ IDS) and the Centre for Joint Warfare Studies (CENJOWS).
• The primary objective of the event is to enhance awareness and encourage greater participation of Micro, Small and Medium Enterprises (MSMEs) and Start-ups in the Defence Ecosystem.
• The workshop provides an interactive platform for industry representatives to gain insights into Defence Procurement Procedures, Indigenisation Initiatives, iDEX Framework, Testing & Certification Processes, and TPCR.
• Senior officers and experts from HQ IDS, Service Headquarters, Directorate General of Quality Assurance (DGQA), iDEX-Defence Innovation Organisation (DIO), and other stakeholder organisations are participating in the event.
• The inaugural session features addresses by Praveen Keshav Vohra, Deputy Chief of Integrated Defence Staff (Policy Planning & Force Development).
• The inaugural session also includes an address by Ashok Kumar, Director General, CENJOWS.
• The First Day focuses on Defence Acquisition Procedure (DAP), Procurement Categories, Revenue Procurement Parameters, Indigenisation Reforms, SRIJAN Portal, Import Substitution Mapping, and Intellectual Property Rights (IPR).
• The Second Day focuses on iDEX Initiatives, Prototype Development, Testing & Evaluation Procedures, Certification Systems, User Trials, Environmental Testing, and DRDO’s Role in Research & Development (R&D).
• Discussions will also cover Technology Readiness Levels (TRLs) and their importance in defence technology development.
• A dedicated session on Technology Perspective Capability Roadmap (TPCR) is planned to provide industry with future capability requirements of the Armed Forces.
• The workshop includes a Panel Discussion with Venture Capitalists to explore funding opportunities for defence innovators and start-ups.
• Interactive discussions and Question-and-Answer Sessions are designed to address practical challenges faced by industry participants.
• The initiative supports the vision of Aatmanirbhar Bharat in Defence Manufacturing and promotes stronger collaboration between the Defence Forces and the Indian Industry.

Indian Navy Successfully Extracts Unexploded Missile Warhead from Merchant Vessel Near Kochi

• The Indian Navy successfully completed a High-Risk Explosive Ordnance Disposal (EOD) Operation involving the recovery of an Unexploded Missile Warhead from the crude oil tanker MT Olympic Life.
• The Marshall Islands-flagged tanker was sailing from Fujairah, UAE, to Kochi when it reported an explosion in its hull on 26 May 2026 while off the coast of Oman.
• The vessel had No Indian Nationals Onboard and later reported the presence of an Unexploded Ordnance (UXO) during its transit towards Kochi.
• The information was received through the Information Fusion Centre – Indian Ocean Region (IFC-IOR), following which the Indian Navy initiated a coordinated response.
• The Southern Naval Command, based in Kochi, deployed a specialist Explosive Ordnance Disposal (EOD) Team to assess the situation.
• The EOD team confirmed that a Projectile had penetrated the ship's hull, passed through multiple structural compartments, and become lodged inside a Fuel Tank.
• Due to the presence of an Unexploded Missile Warhead inside a fuel storage compartment, the operation required extreme caution to ensure the safety of the ship, crew, and port infrastructure.
• The EOD team adopted a Deliberate and Phased Approach, following all prescribed safety procedures before initiating recovery operations.
• Using Advanced Diagnostic Techniques, the team identified and isolated the Detonation Mechanism before safely extracting the warhead and associated debris.
• The recovered ordnance was subsequently transported to a Secure Facility for safe storage and detailed technical examination.
• The operation highlighted the Indian Navy’s expertise in Explosive Ordnance Disposal (EOD), Technical Proficiency, and Inter-Agency Coordination in handling complex maritime emergencies.
• The successful mission reaffirmed the Indian Navy’s role as a Responsible Maritime Force, ensuring Global Maritime Safety irrespective of the nationality of the vessel or crew.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Chamber of Commerce Delegation Meets Union Minister Dr. Jitendra Singh to Discuss Investment and Development Initiatives

• An Indian Chamber of Commerce (ICC) delegation led by its President Brij Bhushan Aggarwal met Jitendra Singh in New Delhi.
• During the meeting, the ICC apprised the Minister about its Investment Initiatives in West Bengal and expressed its willingness to collaborate with both the Central Government and the Government of West Bengal.
• The chamber informed that it is working towards facilitating investments worth ₹1 Lakh Crore in West Bengal through its member companies.
• The proposed ₹1 Lakh Crore Investment Plan reflects strong Industry Confidence in the state's economic potential and future growth prospects.
• According to the ICC, West Bengal is witnessing a Renewed Sense of Optimism and Positive Economic Momentum, which could help accelerate industrial and economic growth.
• The delegation emphasized the importance of strong cooperation between Industry, the Union Government, and the State Government to create a conducive investment environment.
• ICC expressed its readiness to work closely with Jitendra Singh, various Union Ministries, and the Government of West Bengal to support Industrial Development and Investment Promotion.
• The proposed collaboration will focus on Institutional Coordination, Industrial Expansion, and greater Private Sector Participation in development initiatives.

About Indian Chamber of Commerce (ICC) :

• Indian Chamber of Commerce is one of India’s Oldest Chambers of Commerce.
• It was established in 1925 by Ghanshyam Das Birla and other leading industrialists.
• The headquarters of ICC is located in Kolkata.

Union Minister Dr. Jitendra Singh Inaugurates DST-Supported Central Instrumentation Facility and Three Research Clusters at IIT Gandhinagar

• Union Minister Dr. Jitendra Singh addressed the programme “Advancing Research & Innovation Towards Viksit Bharat” at the Indian Institute of Technology Gandhinagar (IIT Gandhinagar) and emphasized that the true value of scientific research lies in creating societal and economic impact, not just research publications.
• The Minister launched the DST-funded Central Instrumentation Facility (CIF) and three new research clusters at IIT Gandhinagar.
• The three newly launched research clusters are the Advanced Materials Research Cluster (AMRC), Energy Research Cluster (ERC), and Healthcare & MedTech Research Cluster (HMRC).
• These research clusters are designed to transform cutting-edge research into deployable solutions for national development through a translational research approach.
• Nearly 70 industries have joined as founding partners, highlighting growing confidence in industry-academia collaboration.
• He highlighted the role of the Anusandhan National Research Foundation (ANRF) in democratizing access to research opportunities, funding, and technical support across institutions.
• Important national initiatives highlighted include the National Quantum Mission and the IndiaAI Mission, which aim to strengthen India's technological capabilities.
• The newly inaugurated Central Instrumentation Facility (CIF) will provide researchers, startups, and industries access to advanced scientific infrastructure and sophisticated research equipment.
• During the visit, he interacted with startups and faculty-led technology demonstrations at the IIT Gandhinagar Research Park.
• The IIT Gandhinagar Research Park, established with support from the Department of Science & Technology (DST), promotes collaboration among researchers, entrepreneurs, and industry partners.
• The Research Park currently hosts more than 20 companies and supports over 30 startups.
• He highlighted the recently announced ₹1 lakh crore Research, Development and Innovation (RDI) Initiative, aimed at boosting private-sector participation in research and innovation.
• During the visit, he also interacted with representatives of NAMTECH, appreciating its efforts to develop future-ready talent through industry-integrated learning models.
• Dr. Jitendra Singh released a publication showcasing IIT Gandhinagar’s Top 25 Research Achievements of 2025.

Adani Ports Bags 10-Year USD 70 Million Marine Services Deal for Argentina Liquefied Natural Gas Venture

• Adani Ports and Special Economic Zone Limited (APSEZ) secured a 10-year marine services contract for Argentina’s first Liquefied Natural Gas (LNG) export project, marking the company’s entry into South America.
• The contract, valued at approximately USD 70 million, was awarded to Adani Harbour International Free Zone Company (FZCO), a subsidiary of APSEZ, in partnership with the Argentina-based Meridian Group.
• The project will be executed through Meridian Transportes Marítimos S.A., a Joint Venture (JV) in which Adani Harbour International FZCO holds 51% stake and Meridian Group holds 49% stake.
• The Adani–Meridian consortium will provide comprehensive marine services for the Southern Energy Floating Liquefied Natural Gas (FLNG) Project.
• The marine support fleet will include four tugboats, one Anchor Handling Tug Supply (AHTS) vessel, and one crew boat.
• The Southern Energy FLNG Project is located in the San Matías Gulf, Argentina, and is scheduled to commence operations in September 2027.
• The project is expected to produce 45 Million Tonnes (MT) of LNG annually, equivalent to around 28 LNG cargoes per year.
• The project will become Argentina’s first LNG export project, representing a significant milestone in the country’s energy sector.
• Under the agreement, Argentina plans to export up to 10 Million Tonnes (MT) of LNG annually to India beginning in 2027.

Russia Proposes Supply and Co-Production of Sukhoi Su-57 Fifth-Generation Stealth Fighters in India

• Russian President Vladimir Putin offered India the advanced Sukhoi Su-57 stealth fighter aircraft and proposed its joint production in India, strengthening defence cooperation between the two countries.
• The announcement was made on the sidelines of the Petersburg International Economic Forum held in St. Petersburg, Russia.
• The proposal includes full technology transfer (ToT) and the establishment of manufacturing facilities in India, supporting the Government's Make in India and defence indigenisation
• In 2007, India and Russia launched the Fifth Generation Fighter Aircraft (FGFA) Programme to jointly develop an advanced stealth fighter based on the Sukhoi Su-57 platform.
• India formally withdrew from the FGFA Programme in 2021 due to concerns regarding high costs, technology transfer issues, and aircraft performance requirements.
• The Sukhoi Su-57 (Felon) is a 5th-generation stealth multirole fighter aircraft developed by the Sukhoi Design Bureau, a subsidiary of the United Aircraft Corporation.
• The aircraft was designed to compete with advanced fighter jets such as the Lockheed Martin F-35 Lightning II of the United States.
• The Su-57 combines stealth technology, supermaneuverability, advanced avionics, and sustained supersonic flight (supercruise) capabilities.
• The aircraft is capable of performing both air superiority missions and precision strike operations, making it a versatile multirole combat platform.
• The proposal is significant for India’s efforts to enhance self-reliance in defence manufacturing, strengthen aerospace capabilities, and reduce dependence on imported military platforms.

About Ministry of Road Transport & Highways :

• Cabinet Minister : Nitin Gadkari
• Minister of State : Ajay Tamta, Harsh Malhotra

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Clears Sanlam Emerging Markets’ Acquisition of Stake in Shriram Life Insurance Company

• The Competition Commission of India (CCI) has approved the acquisition of a certain shareholding in Shriram Life Insurance Company Limited by Sanlam Emerging Markets (Mauritius) Ltd. (SEMM).
• The proposed transaction involves the acquisition of 2.80% of the Expanded Equity Capital of Shriram Life Insurance Company Limited through a Preferential Issue.
• The acquiring entity, Sanlam Emerging Markets (Mauritius) Ltd., is incorporated in Mauritius.
• SEMM is a part of the Sanlam Group, a leading financial services group based in South Africa.
• Sanlam Group is a long-standing Strategic Partner of the Shriram Group and has investments in several Shriram Group companies in India.
• Shriram Life Insurance Company Limited (SLIC) is a Life Insurance Company registered with the Insurance Regulatory and Development Authority of India (IRDAI).
• SLIC is engaged in offering Life Insurance Products, Unit-Linked Insurance Plans (ULIPs), and other insurance products permitted under the Insurance Act, 1938.

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

CURRENT AFFAIRS: MOUS AND AGREEMENT

Sikkim Signs Memorandum of Understanding with Department of Drinking Water and Sanitation for Jal Jeevan Mission 2.0

• The Department of Drinking Water and Sanitation (DDWS) under the Ministry of Jal Shakti (MoJS) and the Government of Sikkim signed a reform-linked Memorandum of Understanding (MoU) to strengthen rural water supply infrastructure under Jal Jeevan Mission 2.0 (JJM 2.0).
• The MoU was signed in the presence of Union Minister of Jal Shakti C. R. Patil and Sikkim Chief Minister Prem Singh Tamang.
• The MoU promotes a Gram Panchayat-led, service-based and community-centric model of rural water governance, ensuring stronger community participation and sustainable operation and maintenance of rural water supply systems.
• The initiative aims to provide every rural household with safe, adequate, and prescribed quality drinking water on a regular basis.
• In March 2026, the Union Cabinet approved the extension of Jal Jeevan Mission (JJM) till December 2028 with an enhanced total outlay of ₹8.69 lakh crore.
• Jal Jeevan Mission 2.0 (JJM 2.0) aims to certify all Gram Panchayats as ‘Har Ghar Jal’ by providing functional household tap connections to all 19.36 crore rural households by December 2028.

About Sikkim

• Capital: Gangtok
• Chief Minister: Prem Singh Tamang
• Governor: Om Prakash Mathur

Rapido Partners with Ministry of Road Transport & Highways for Rahveer Scheme Awareness

• Roppen Transportation Services Private Limited, operating under the brand name Rapido has partnered with the Ministry of Road Transport & Highways (MoRTH) to promote nationwide awareness and citizen participation in the Government of India’s Rahveer Scheme.
• As part of the campaign, more than 4 lakh Rapido captains across India took the Rahveer Pledge through the company’s platform, creating a Guinness World Record.
• The agreement was signed in the presence of Union Minister Nitin Gadkari and Aravind Sanka, Co-founder of Rapido
• The initiative aims to enhance road safety awareness and encourage citizens to assist road accident victims without hesitation.
• The Rahveer Scheme promotes immediate assistance to accident victims during the Golden Hour, the critical period immediately after an accident when timely medical help can significantly improve survival and recovery chances.
• The RahVeer Scheme was launched by the Ministry of Road Transport & Highways (MoRTH) in April 2025 as a reward-based initiative to encourage bystanders to help road accident victims

About Rapido

• Headquarters: Bengaluru, Karnataka
• Co-founder and Chief Executive Officer (CEO): Aravind Sanka
• Established: 2015

About Ministry of Road Transport & Highways

• Union Minister: Nitin Gadkari (Nagpur, Maharashtra)
• Ministers of State: Ajay Tamta and Harsh Malhotra

Invest India and Invest UP Partner to Boost Foreign Direct Investment in Uttar Pradesh

• Invest India and Invest UP signed a strategic partnership to attract higher Foreign Direct Investment (FDI) and accelerate industrial development in Uttar Pradesh.
• The partnership was formalised during a high-level meeting held in Lucknow with senior officials from both organisations.
• The collaboration aims to convert investment commitments into operational projects by improving investor facilitation, project execution, and global investment outreach.
• The initiative supports Uttar Pradesh’s vision of becoming a $1 trillion economy.
• Key focus areas of the partnership include:
• Increasing Foreign Direct Investment (FDI) inflows.
• Faster implementation of investment proposals.
• Improving ease of doing business.
• Strengthening investor confidence.
• Promoting industrial and infrastructure development.
• Enhancing investor aftercare and grievance resolution.
• Faster coordination for land acquisition and regulatory approvals.
• Promoting technology-driven and employment-intensive sectors.
• The collaboration will strengthen Uttar Pradesh’s position as a major investment destination and contribute to economic growth and employment generation.

About Invest India

• Type: National Investment Promotion and Facilitation Agency of India.
• Department: Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry.
• Established: 2009.
• Objective: To facilitate domestic and foreign investments and promote India as a global investment destination.

About Invest UP

• Type: Investment Promotion and Facilitation Agency of Uttar Pradesh.
• Objective: To provide investor support, single-window clearances through Nivesh Sarathi, project monitoring, and grievance redressal.

About Uttar Pradesh

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

CURRENT AFFAIRS: RANKING AND REPORTS

Jawaharlal Nehru Port Authority Becomes India’s Best-Performing Container Port in Container Port Performance Index 2025

• Jawaharlal Nehru Port Authority (JNPA) emerged as India’s highest-performing container port in the Container Port Performance Index (CPPI) 2025, jointly published by the World Bank and S&P Global Market Intelligence.
• JNPA secured the 22nd position globally in CPPI 2025, improving by one rank compared to the previous edition.
• It continued its position as India’s leading container port and was recognised among the world’s most improved ports over the last six years.
• The achievement reflects improvements in vessel turnaround time, cargo handling efficiency, and overall operational performance.
• Among Indian ports, Pipavav Port ranked 28th, overtaking Mundra Port (30th) to become the highest-ranked private container port in India, while Visakhapatnam Port secured the 104th position.
• The Container Port Performance Index (CPPI) assesses ports based on factors such as vessel turnaround time, cargo handling speed, operational efficiency, and supply chain performance.

Top 10 Ports in Container Port Performance Index (CPPI) 2025

About Jawaharlal Nehru Port Authority (JNPA)

• Location: Navi Mumbai, Maharashtra
• Established: 1989
• Ministry: Ministry of Ports, Shipping and Waterways

About World Bank

• Established: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga

CURRENT AFFAIRS: SPORTS NEWS

India Wins 4 Medals at New Taipei City Athletics Open 2026

• India finished with 4 medals (2 gold and 2 silver) at the New Taipei City Athletics Open 2026 held at Banqiao Stadium, Chinese Taipei.
• The tournament was a World Athletics Continental Tour Silver-level event, upgraded from Bronze category in 2026.
• Shaili Singh won the gold medal in the women’s long jump with a jump of 6.24 metres, defeating Vietnam’s Tran Thi Loan (6.23 m) by one centimetre.
• Shaili Singh’s season-best performance is 6.58 metres (Federation Cup 2026), while her personal best and Under-20 Indian national record is 6.76 metres, achieved in 2023.
• India’s women’s 4×100 metre relay team of SS Sneha, Srabani Nanda, Sudeshna Shivankar, and Tamanna won the gold medal by clocking 44.07 seconds and equalled the meet record.
• Tejas Shirse won the silver medal in the men’s 110 metre hurdles with a timing of 13.50 seconds.
• He also improved his own meet record of 13.61 seconds and holds the Indian national record of 13.41 seconds in the event.
• Animesh Kujur secured the second silver medal for India, taking the country’s total medal tally to four.

About World Athletics

• Founded: 1912
• Headquarters: Monaco
• President: Sebastian Coe

India Finishes Ulaanbaatar Open 2026 with 17 Medals

• India delivered an impressive performance at the Ulaanbaatar Open 2026 Wrestling Tournament held in Mongolia, securing a total of 17 medals, including 8 gold and 9 bronze medals.
• The medals were won across men’s freestyle, women’s freestyle, and Greco-Roman wrestling categories.
• The tournament was the 3rd United World Wrestling (UWW) Ranking Series event of the season and served as an important preparation event for the 2026 Asian Games.
• Gold Medal Winners:
• Men’s Freestyle: Deepak (61 kg), Sagar Jaglan (74 kg), and Dinesh Dhankhar (125 kg)
• Women’s Freestyle: Manisha Bhanwala (57 kg), Neha Sangwan (59 kg), and Kajal Dhochak (76 kg)
• Greco-Roman: Sunil Kumar (87 kg) and Nitesh Kumar (97 kg)
• Bronze Medal Winners:
• Men’s Freestyle: Sumit (57 kg), Mohit Kumar (65 kg), Jaideep (74 kg), and Vicky (97 kg)
• Women’s Freestyle: Neelam (50 kg), Hansika Lamba (55 kg), Mansi Ahlawat (62 kg), and Priya Malik (76 kg)
• Greco-Roman: Sahil (60 kg)

About United World Wrestling (UWW)

• Established: 1912 (as the international governing body for wrestling)
• Headquarters: Switzerland
• President: Nenad Lalović

About Mongolia

• Capital: Ulaanbaatar
• Currency: Mongolian Tögrög
• President: Ukhnaagiin Khürelsükh
• Prime Minister: Nyam-Osoryn Uchral

CURRENT AFFAIRS: IMPORTANT DAYS

World Day Against Child Labour 2026 – June 12

• World Day Against Child Labour is observed every year on 12 June to raise awareness about child labour and promote efforts to eliminate it worldwide.
• The day was launched by the International Labour Organization (ILO) in 2002 to draw global attention to the exploitation of children and the need to protect their rights.
• The International Labour Organization (ILO) was established in 1919 with the objective of promoting social justice and setting international labour standards.
• The International Labour Organization (ILO) adopted Convention No. 138 (Minimum Age Convention) in 1973, which aims to ensure a minimum age for employment and gradually eliminate child labour.
• In 1999, the International Labour Organization (ILO) adopted Convention No. 182 (Worst Forms of Child Labour Convention), which focuses on the immediate elimination of the worst forms of child labour.
• The observance highlights the importance of providing children with education, healthcare, protection, leisure, and a safe childhood free from exploitation.

About International Labour Organization (ILO)

• Established: 1919
• Headquarters: Geneva, Switzerland
• Director-General: Gilbert F. Houngbo

International Albinism Awareness Day 2026 – June 13

• International Albinism Awareness Day is observed every year on 13 June to raise awareness about the rights, dignity, and inclusion of persons with albinism and to combat discrimination and violence against them.
• In 2013, the United Nations Human Rights Council (UNHRC) adopted a resolution calling for the prevention of discrimination and protection of the human rights of persons with albinism.
• On 18 December 2014, the United Nations General Assembly (UNGA) adopted a resolution proclaiming 13 June as International Albinism Awareness Day, with the first observance held in 2015.
• On 26 March 2015, the United Nations Human Rights Council (UNHRC) established the mandate of the Independent Expert on the enjoyment of human rights by persons with albinism to address their specific challenges and promote their rights globally.
• The day highlights the need to ensure equality, safety, access to healthcare, education, and protection from discrimination for people living with albinism.

About United Nations (UN)

• Established: 24 October 1945
• Headquarters: New York, United States
• Secretary-General: António Guterres

About United Nations Human Rights Council (UNHRC)

• Established: 15 March 2006
• Headquarters: Geneva, Switzerland

Daily CA One- Liner: June 13

• Union Minister for Agriculture & Farmers Welfare and Rural Development Shivraj Singh Chouhan chaired a meeting of State Rural Development Ministers through video conferencing regarding the implementation of Viksit Bharat – Gramin Bharat
• Prime Minister Shri Narendra Modi chaired the 11th Governing Council Meeting of NITI Aayog at the Rashtrapati Bhavan Cultural Centre, New Delhi
• The Indian Institute of Technology (IIT) Bhubaneswar developed ‘ArsenSafe’, a portable device capable of detecting arsenic contamination in drinking water without the need for laboratory facilities
• The Department of Drinking Water and Sanitation (DDWS) under the Ministry of Jal Shakti (MoJS) and the Government of Sikkim signed a reform-linked Memorandum of Understanding (MoU) to strengthen rural water supply infrastructure under Jal Jeevan Mission 2.0
• Rapido has partnered with the Ministry of Road Transport & Highways (MoRTH) to promote nationwide awareness and citizen participation in the Government of India’s Rahveer Scheme
• Invest India and Invest UP signed a strategic partnership to attract higher Foreign Direct Investment (FDI) and accelerate industrial development in Uttar Pradesh
• Jawaharlal Nehru Port Authority (JNPA) emerged as India’s highest-performing container port in the Container Port Performance Index (CPPI) 2025, jointly published by the World Bank and S&P Global Market Intelligence
• India finished with 4 medals (2 gold and 2 silver) at the New Taipei City Athletics Open 2026 held at Banqiao Stadium, Chinese Taipei
• India delivered an impressive performance at the Ulaanbaatar Open 2026 Wrestling Tournament held in Mongolia, securing a total of 17 medals, including 8 gold and 9 bronze medals
• World Day Against Child Labour is observed every year on 12 June to raise awareness about child labour and promote efforts to eliminate it worldwide
• International Albinism Awareness Day is observed every year on 13 June to raise awareness about the rights, dignity, and inclusion of persons with albinism and to combat discrimination and violence against them.
• India and Nepal officially launched a Peer-to-Peer (P2P) Cross-Border Remittance Mechanism on 6 June 2026.
• The Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 was approved by the Union Cabinet on 05 May 2026 to provide additional credit support to businesses affected by the West Asia Crisis.
• The Government of India (GoI) has approved the extension of the Credit Guarantee Scheme for Microfinance Institutions (CGSMFI-2.0) until 31 August 2026 or until guarantees worth ₹20,000 Crore are issued, whichever is earlier.
• Delcy Eloína Rodríguez Gómez, Acting President of Venezuela, paid a 5-day working visit to India from 3–7 June 2026 with a primary focus on strengthening India–Venezuela energy cooperation.
• The Ministry of Defence (MoD) signed a contract with Accord Software and Systems Private Limited (ASSPL), Bengaluru for the procurement of 20 Enhanced Capability Global Navigation Satellite System (ECGNSS) Jammers for the Indian Navy.
• A Workshop on Defence Procurement, Innovations for Defence Excellence (iDEX), Technology Perspective Capability Roadmap (TPCR), and Testing Procedures for MSMEs & Start-ups is being held at Manekshaw Centre, Delhi Cantt on 11–12 June 2026.
• The Indian Navy successfully completed a High-Risk Explosive Ordnance Disposal (EOD) Operation involving the recovery of an Unexploded Missile Warhead from the crude oil tanker MT Olympic Life.
• An Indian Chamber of Commerce (ICC) delegation led by its President Brij Bhushan Aggarwal met Jitendra Singh in New Delhi.
• Union Minister Dr. Jitendra Singh addressed the programme “Advancing Research & Innovation Towards Viksit Bharat” at the Indian Institute of Technology Gandhinagar (IIT Gandhinagar) and emphasized that the true value of scientific research lies in creating societal and economic impact, not just research publications.
• Adani Ports and Special Economic Zone Limited (APSEZ) secured a 10-year marine services contract for Argentina’s first Liquefied Natural Gas (LNG) export project, marking the company’s entry into South America.
• Russian President Vladimir Putin offered India the advanced Sukhoi Su-57 stealth fighter aircraft and proposed its joint production in India, strengthening defence cooperation between the two countries.
• The Competition Commission of India (CCI) has approved the acquisition of a certain shareholding in Shriram Life Insurance Company Limited by Sanlam Emerging Markets (Mauritius) Ltd. (SEMM).