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CURRENT AFFAIRS : BANKING,FINANCE & BUSINESS

India Registers Current Account Surplus of US$7.1 Billion in January–March Quarter of FY26

• India recorded a Current Account Surplus (CAS) of US$ 7.1 Billion, equivalent to 0.7% of GDP, during the Fourth Quarter (Q4: January–March) of FY 2025-26.
• This marks a significant improvement from the Current Account Deficit (CAD) of US$ 13.2 Billion recorded in the previous quarter.
• The surplus was primarily driven by Strong Growth in Services Exports and a substantial increase in Remittances from Indians Working Abroad.

Key Highlights :

• According to the Reserve Bank of India (RBI) report titled “Developments in India’s Balance of Payments during the Fourth Quarter (January–March) of 2025-26”, Net Services Receipts increased to US$ 60.4 Billion in Q4 FY26 from US$ 53.3 Billion in the corresponding quarter of the previous year.
• Despite the current account surplus, India’s Merchandise Trade Deficit widened sharply to US$ 83.4 Billion in Q4 FY26 from US$ 59.3 Billion a year earlier due to higher imports.
• For the entire FY 2025-26, India’s Current Account Deficit (CAD) stood at US$ 25.2 Billion, equivalent to 0.6% of GDP, compared to US$ 22.9 Billion in FY25.
• Foreign Direct Investment (FDI) recorded a Net Inflow of US$ 4.2 Billion during Q4 FY26.
• On an annual basis, Net FDI Inflows increased significantly to US$ 6.9 Billion in FY26, compared to US$ 1.0 Billion in FY25.
• Foreign Portfolio Investment (FPI) witnessed a Net Outflow of US$ 12.0 Billion during Q4 FY26.
• For the full financial year, FPI Outflows stood at US$ 16.4 Billion, compared to Net Inflows of US$ 3.6 Billion in FY25.
• India’s Foreign Exchange Reserves increased by US$ 7.2 Billion during Q4 FY26.
• However, on a Balance of Payments (BoP) Basis, Foreign Exchange Reserves declined by US$ 23.6 Billion during FY26, compared to a depletion of US$ 5.0 Billion in FY25.

Reserve Bank of India Fines IIFL Samasta Finance ₹3.90 Lakh for Know Your Customer and Fraud Risk Management Violations

• The Reserve Bank of India (RBI) imposed a Monetary Penalty of ₹3.90 Lakh on IIFL Samasta Finance Limited for violations of Know Your Customer (KYC) Directions and Fraud Risk Management in NBFCs Directions.
• RBI found that IIFL Samasta Finance Limited failed to implement a Robust Software System for effective identification and reporting of Suspicious Transactions.
• The company also failed to disclose the Correct Details of Frauds reported during FY 2024-25 in its Financial Statements (Notes to Accounts).
• RBI imposed a separate Penalty of ₹3.10 Lakh on True Credits Private Limited for Non-Compliance with KYC Regulations.
• True Credits Private Limited failed to carry out Enhanced Due Diligence (EDD) for certain customers onboarded through Non-Face-to-Face Modes, as mandated under RBI’s KYC Directions.
• RBI also imposed a Penalty of ₹70,000 on Repco Home Finance Limited for violating Fair Practice Code (FPC) Guidelines.
• Repco Home Finance Limited failed to disclose its Risk Gradation Methodology and the rationale for charging different interest rates to different categories of borrowers in Application Forms and Sanction Letters.
• These penalties were imposed following Supervisory Inspections conducted with reference to the financial position of the entities as on 31 March 2025.
• The penalties were levied under the provisions of the Reserve Bank of India Act, 1934 and the National Housing Bank Act, 1987.

Bank of India Launches Strategic Business Branch in Mumbai to Boost Digital and Partnership-Based Financing

• Bank of India (BOI) inaugurated a dedicated Strategic Business Branch (SBB) at Nariman Point, Mumbai, Maharashtra to strengthen its Digital and Partnership-Led Financing Business.
• The newly launched Strategic Business Branch (SBB) will function as a specialized hub for Innovative Financing Solutions and strategic business partnerships.
• The branch will focus on major financing segments such as Pool Buyout, Co-Lending, Trade Receivables Discounting System (TReDS), and Supply Chain Finance.
• The initiative is aimed at enhancing collaboration with Non-Banking Financial Companies (NBFCs), Fintech Companies, Corporates, and Micro, Small and Medium Enterprises (MSMEs).
• The dedicated branch is expected to improve access to Technology-Driven Financial Solutions and support the evolving financing requirements of businesses.
• According to BOI, the Strategic Business Branch will act as a Centre of Excellence for Partnership-Led Financing, promoting sustainable business growth.
• The branch will help enhance Scalability, Portfolio Monitoring, and Operational Efficiency while ensuring strong Governance and Risk Controls.
• The initiative aligns with BOI’s strategy of expanding its presence in Digital Financing Ecosystems and strengthening partnerships across the financial sector.

About Bank of India:

• Founded: 1906
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Rajneesh Karnatak
• Tagline: "Relationships Beyond Banking"

Professional Forecasters Peg FY27 Economic Growth at 6.5%, Marginally Lower Than RBI Estimate

• The Reserve Bank of India (RBI) Survey of Professional Forecasters (SPF) projected India’s Real GDP Growth at 6.5% for FY 2026-27 (FY27).
• The SPF GDP Growth Forecast of 6.5% is slightly lower than the RBI’s Official Projection of 6.6% for FY27.
• The survey projected Consumer Price Index (CPI) Inflation at 4.9% for FY27, indicating a relatively optimistic inflation outlook.
• The SPF Inflation Forecast of 4.9% is lower than the RBI’s CPI Inflation Projection of 5.1% for FY27.
• For FY 2027-28 (FY28), the survey projected GDP Growth at 6.9% and CPI Inflation at 4.5%.
• According to the survey, the Highest Probability assigned by professional forecasters is for GDP Growth to remain in the range of 6.5%–6.9% during both FY27 and FY28.
• The Current Account Deficit (CAD) is projected at 2.1% of GDP in FY27, higher than the previous estimate of 1.5% of GDP.
• For FY28, the Current Account Deficit (CAD) is expected to moderate to 1.2% of GDP.
• The survey reflects a Slightly Softer Growth Outlook but a More Optimistic Inflation Outlook compared to the RBI’s official forecasts.

Recent News :

• In May 2026, ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) revised down India’s Gross Domestic Product (GDP) growth forecast for Financial Year 2026-27 (FY27) to 6.2% from its earlier estimate of 6.5%.

Reserve Bank of India Introduces Swap Window for External Commercial Borrowings and Foreign Currency Non-Resident (Bank) Deposits

• The Reserve Bank of India (RBI) introduced Two Major Liquidity Management Measures: a US Dollar–Rupee Swap Facility for External Commercial Borrowings (ECBs) and a Swap Window for Fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] Deposits.
• These measures aim to Strengthen Foreign Currency Inflows, Boost Forex Liquidity, Support the Rupee, and enhance Financial Stability amid global economic and geopolitical uncertainties.

Key Highlights :

US Dollar–Rupee Swap Facility for ECBs

• The ECB Swap Facility is available to Public Sector Undertakings (PSUs) and Authorised Dealer Category-I (AD Category-I) Banks raising Overseas Foreign Currency Borrowings (OFCBs).
• Eligible borrowings must have a Minimum Maturity Period of 3 Years.
• The facility will remain open until 15 January 2027, covering eligible drawdowns and inflows received up to 31 December 2026.
• The scheme also covers the Undrawn Portions of Existing ECBs, but excludes borrowings raised for Refinancing and those containing Embedded Options.
• Under the facility, banks can Sell US Dollars to RBI and Repurchase Them at the End of the Swap Period.
• The swap carries a Fixed Premium of 1.5% Per Annum, compounded Semi-Annually.
• The Maximum Swap Tenor is 5 Years, aligned with the repayment schedule of the borrowing.
• The operations will be overseen by RBI’s Financial Markets Operations Department (FMOD).

FCNR(B) Deposit Swap Window

• RBI has also launched a Swap Window for Fresh FCNR(B) Deposits mobilised between 8 June 2026 and 30 September 2026.
• The facility will remain available until 16 October 2026.
• Eligible FCNR(B) Deposits must have a maturity period ranging from 3 Years to 5 Years.
• Deposits can be mobilised in Any Freely Convertible Currency, but the swap facility with RBI is available only in US Dollars.
• Banks must convert non-dollar deposits into Equivalent US Dollar Amounts using prevailing market exchange rates.
• The swap will be conducted At Par using the Financial Benchmark India Private Limited (FBIL) Reference Rate for both legs of the transaction.
• Each bank can access the facility Once a Week, subject to limits based on fresh deposits mobilised.
• The deposits will have a One-Year Lock-in Period, after which premature withdrawal may be allowed.

Regulatory Relief

• To encourage foreign currency inflows, RBI has exempted fresh FCNR(B) Deposits mobilised under the scheme from Cash Reserve Ratio (CRR) and Statutory Liquidity Ratio (SLR)
• This exemption will remain valid until 30 September 2026.

Reserve Bank of India Evaluating Proposal for Polymer Currency Notes, Final Decision Yet to Be Taken: Governor Sanjay Malhotra

• Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), stated that the proposal to introduce Polymer Banknotes in India is currently under consideration and is at a Preliminary Evaluation Stage.
• The RBI is assessing the Advantages and Disadvantages of polymer currency before taking a final decision on its implementation.
• Polymer Banknotes are made from a Flexible Plastic Substrate and are considered more Durable, Long-Lasting, and Counterfeit-Resistant than traditional paper notes.
• At present, Indian Banknotes are printed on paper made from 100% Cotton, which has been the standard material for currency production in India.
• Despite the rapid growth of digital payments, Cash continues to remain a widely preferred mode of payment for many people across India.
• India had earlier planned a Pilot Project in 2012 to introduce ₹10 Polymer Notes in selected cities, but the initiative was later shelved due to Technological Challenges.
• If approved, the introduction of polymer currency would represent one of the most significant reforms in India's currency system since the launch of the Mahatma Gandhi New Series
• Polymer Banknotes were first introduced by Australia in 1988 and are now used by More Than 60 Countries Worldwide.
• The growing global adoption of polymer notes is driven by their Enhanced Security Features, Higher Durability, and Lower Long-Term Replacement Costs.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Air India Launches First “Easy Connect” Flights Under Hub-and-Spoke Aviation Model

• Air India has launched its first “Easy Connect” flights under the Government of India’s hub-and-spoke aviation model, with services from Varanasi scheduled to commence on 25 June 2026.
• The Easy Connect service aims to simplify international travel for passengers from Tier 2 and Tier 3 cities by allowing them to complete baggage check-in and immigration formalities at their departure airport before connecting through a major hub airport.
• Under the hub-and-spoke model, cities like Varanasi act as ‘spokes’ connected to hub airports such as Delhi, enabling passengers to access Air India’s international network through coordinated flight schedules and seamless transit processes.
• The designated Easy Connect flight from Varanasi to Delhi will operate daily as flight AI1111.
• The flight schedule has been aligned to provide onward international connectivity within 4 hours to 17 international destinations across Europe, Southeast Asia, and West Asia.
• Key destinations under the network include London Heathrow, Frankfurt, Milan, Rome, Zurich, Manila, Singapore, Phuket, Kuala Lumpur, Riyadh, and Dubai.
• Future Easy Connect services from additional spoke airports will operate under the AI11XX flight series, creating a distinct identity for the expanding network.

About Air India:

• Headquarters: Gurugram, Haryana
• Parent Company: Tata Group
• Managing Director & Chief Executive Officer (MD & CEO): Campbell Wilson

Assam Launches First “Blue Valley Cluster” for Flavours, Fragrances and AYUSH Sector

• Assam’s first “Blue Valley Cluster”, an industrial hub focused on flavours, fragrances, and AYUSH, was launched in the presence of the Ambassador of the European Union (EU) to India, Hervé Delphin, and Assam Chief Minister Himanta Biswa Sarma.
• AYUSH stands for Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy.
• The Blue Valley Cluster is led by the Government of Assam and aligns with the priorities outlined in the EU-India Comprehensive Strategic Agenda, adopted during the EU-India Summit held in January 2026.
• The initiative aims to promote inclusive livelihoods, skill development, and employment generation, while strengthening Assam’s role as a strategic gateway for sustainable trade, investment, and innovation partnerships between Northeast India and Europe.
• To strengthen business cooperation, the Assam Industrial Development Corporation Ltd (AIDC) and the Federation of European Businesses in India (FEBI) signed a Memorandum of Understanding (MoU).
• The MoU aims to promote investment awareness, Business-to-Business (B2B) and Business-to-Government (B2G) linkages, and knowledge exchange between Assam and European businesses.

About Assam:

• Capital: Dispur
• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya

About European Union (EU):

• Headquarters: Brussels, Belgium
• Member Countries: 27
• President of the European Parliament: Roberta Metsola
• President of the European Council: António Costa
• President of the European Commission: Ursula von der Leyen

RECENT NEWS

• The Assam Legislative Assembly has passed the Uniform Civil Code (UCC) Bill, 2026 and became the first state in Northeast India and third state in the country to adopt the UCC legislation. 

Andhra Pradesh Launches “Yogandhra-2026” Statewide Yoga Promotion and Awareness Campaign

• The Government of Andhra Pradesh launched “Yogandhra-2026”, a statewide yoga promotion and awareness campaign, at the Veerabhadra Swamy Temple premises in Lepakshi, Sri Sathya Sai district.
• The 14-day programme is being organised from 7 June to 20 June 2026 and will culminate with a grand celebration of International Yoga Day on 21 June 2026 in Amaravati with mass participation.
• The campaign is being conducted across all 28 districts of Andhra Pradesh with a target to involve 1 crore (10 million) participants.
• Online registrations for the campaign began on the Yogandhra Portal on 7 June 2026.
• The portal recorded 25,000 registrations on the first day, while the total registrations crossed 5 lakh within three days of launch.
• Guntur district recorded the highest registrations with 98,000 participants, followed by Nellore, Nandyal, Kurnool, and Palnadu districts.
• Against the target of 5,600 Yoga Master Trainers, a total of 6,939 trainers have registered under the campaign.
• The campaign supports India’s observance of International Yoga Day, which has been celebrated every year on 21 June since 2015.

About Andhra Pradesh:

• Capital: Amaravati
• Chief Minister: Chandrababu Naidu
• Governor: Syed Abdul Nazeer

RECENT NEWS

• Respectable Chief Minister of Andhra Pradesh N Chandrababu Naidu has announced the major policy to address the state’s declining population growth. Speaking at the public event in Srikakulam district, CM Naidu said that families will receive ₹30,000 for the birth of a third child and ₹40,000 for a fourth child.

Ministry of Education Issues 3 Letters of Approval to Foreign Universities to Establish Campuses in India

• The Ministry of Education (MoE) has issued 3 Letters of Approval (LoAs) to three globally reputed Foreign Higher Education Institutions (FHEIs)—University of Bristol, University of York, and University of New South Wales (UNSW)—to establish campuses in India.
• The University of Bristol will establish its Mumbai Enterprise Campus, offering programmes in Immersive Arts, Finance, Data Science, Economics, Business Management, Entrepreneurship, and Innovation.
• The University of York will establish its first overseas campus in Mumbai, with proposed courses in Finance, Computer Science with Artificial Intelligence (AI), Cyber Security, Business, Economics, Creative Industries, and Management.
• The University of New South Wales (UNSW) will establish UNSW Bengaluru at Manyata Business Park, Bengaluru, scheduled to open from August 2026.
• The UNSW Bengaluru campus will offer programmes in Business, Computer Science, and Cyber Security, and support collaboration in renewable energy, health, transport, and education
• With these approvals, a total of 5 Letters of Approval (LoAs) have been issued under the University Grants Commission (UGC) Regulations for FHEIs, including the University of Southampton and the University of Liverpool.
• The University of Southampton has already commenced academic operations in India for the 2025–26 academic session.
• The UGC has issued 10 Letters of Intent (LoIs) to other globally reputed FHEIs from the United Kingdom (UK), United States (US), Australia, and Italy for establishing campuses across India.
• Deakin University, University of Wollongong, and Queen’s University Belfast have already started academic operations in GIFT City, Gujarat.

About Ministry of Education:

• Cabinet Minister: Dharmendra Pradhan
• Constituency: Sambalpur, Odisha
• Ministers of State (MoS): Jayant Chaudhary and Sukanta Majumdar

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lt General Dhiraj Seth Named Next Chief of the Army Staff, to Assume Office on June 30, 2026

• The Government of India (GoI) has appointed Lieutenant General Dhiraj Seth as the Next Chief of the Army Staff (COAS) with effect from the afternoon of 30 June 2026.
• Lieutenant General Dhiraj Seth is currently serving as the Vice Chief of the Army Staff (VCOAS).
• He will succeed General Upendra Dwivedi, who is scheduled to retire on 30 June 2026.

About Lt Gen Dhiraj Seth :

• Lt Gen Dhiraj Seth is an alumnus of the National Defence Academy (NDA), Khadakwasla, and was commissioned into the Armoured Corps in December 1986.
• He has a distinguished military career spanning nearly four decades, with extensive experience in Operational, Strategic, Capability Development, and Institutional Domains.
• His command assignments include commanding an Armoured Regiment in the Desert Sector, an Armoured Brigade in the Western Theatre, and a Counter-Insurgency Force in Jammu & Kashmir.
• As a Lieutenant General, he commanded the Sudarshan Chakra Corps, one of the Indian Army’s Premier Strike Formations.
• He also served as General Officer Commanding (GOC), Delhi Area, overseeing key National and International Military Engagements and Ceremonial Responsibilities.
• After promotion as Army Commander, he commanded both the South Western Command and the Southern Command.
• He earned the Rare Distinction of Commanding Two Operational Army Commands, providing strategic oversight across critical theatres for more than Two and a Half Years.
• He held several important appointments in Strategic Planning and Capability Development at Army Headquarters, contributing significantly to the Modernisation of the Indian Army.
• His efforts played a key role in shaping the Army’s Capability Roadmap, Long-Term Force Structuring, and integration of Emerging Technologies into future warfare planning.
• Lt Gen Dhiraj Seth is recognized for his contributions to Force Modernisation and Capability Enhancement within the Indian Army.
• He also attended the prestigious Command & Staff Course in Paris, France, reflecting his strong strategic and international military exposure.

Government Appoints Department of Financial Services Secretary Sanjay Lohiya as Director on Reserve Bank of India and State Bank of India Central Boards

• The Central Government has nominated Sanjay Lohiya as a Director on the Central Board of the Reserve Bank of India (RBI), with effect from 11 June 2026.
• Sanjay Lohiya was appointed in place of Nagaraju Maddirala, who retired as Secretary, Department of Financial Services (DFS) on 31 May 2026.
• The Government has also nominated Sanjay Lohiya as a Director on the Central Board of the State Bank of India (SBI), with immediate effect and until further orders.
• He is currently serving as Secretary, Department of Financial Services (DFS), Ministry of Finance, and assumed charge on 1 June 2026.
• Sanjay Lohiya is a 1994-batch Indian Administrative Service (IAS) Officer of the Assam-Meghalaya Cadre.
• The Department of Financial Services (DFS) functions under the Ministry of Finance and oversees Public Sector Banks (PSBs), Financial Institutions, and Insurance Companies.
• The Central Board of RBI is the Highest Decision-Making Body of the Reserve Bank of India and functions under the provisions of the RBI Act, 1934.
• The RBI Central Board consists of the Governor, up to Four Deputy Governors, Four Directors from Local Boards, and Ten Directors nominated by the Central Government.

CURRENT AFFAIRS : DEFENCE NEWS

First-Ever National Defence Academy-Trained Women Cadets Commissioned as Officers in the Indian Defence Forces

• The First Batch of Women Cadets Trained at the National Defence Academy (NDA) has been Commissioned as Officers in the Indian Defence Forces, marking a historic milestone in Women’s Participation in Military Service.
• A total of 17 Women Cadets joined the NDA in August 2022 as part of the 148th Course and successfully completed their Pre-Commission Training at their respective Service Academies.
• In the Indian Army, 9 Women Officers were commissioned during the Passing Out Parade of the 158th Regular Course held at the Indian Military Academy (IMA), Dehradun, Uttarakhand on 13 June 2026.
• The 158th Regular Course Passing Out Parade at IMA was reviewed by Droupadi Murmu, the President of India.
• In the Indian Air Force (IAF), 5 Women Officers were commissioned during the Combined Graduation Parade of the 217th Course at the Air Force Academy, Dundigal, Hyderabad, Telangana, on 13 June 2026.
• The 217th Course Combined Graduation Parade was reviewed by Rajnath Singh, the Raksha Mantri (Defence Minister).
• In the Indian Navy, 3 Women Officers were commissioned during the Spring Term 2026 Passing Out Parade at the Indian Naval Academy, Ezhimala, Kerala, on 28 May 2026.
• The Indian Naval Academy Passing Out Parade was reviewed by Vice Admiral Sameer Saxena.
• The commissioning of these officers represents a Defining Chapter in the Transformation of India’s Defence Forces and reflects the nation’s commitment to Equal Opportunity, Merit, and Excellence in Military Service.
• This achievement stands as a testament to the Dedication, Discipline, and Perseverance of the women cadets and is expected to inspire more young women to pursue careers in the Armed Forces.

INS Chilka Conducts Passing Out Parade for 3,011 Trainees of Batch 01/26 After Completion of Naval Training

• INS Chilka witnessed the Passing Out Parade (POP) of Batch 01/26 on 12 June 2026, marking the successful completion of 16 Weeks of Rigorous Ab-Initio Naval Training by 3,011 Trainees.
• The batch comprised 2,746 Agniveers of the Indian Navy, including 116 Women Agniveers, and 265 Naviks of the Indian Coast Guard.
• The Passing Out Parade symbolized the transformation of recruits into Disciplined, Motivated, and Professionally Trained Personnel ready for naval service.
• The parade was reviewed by Vice Admiral Sanjay Vatsayan, Flag Officer Commanding-in-Chief (FOC-in-C), Western Naval Command, who attended as the Chief Guest.
• Commodore B Deepak Aneel, Station Commander, INS Chilka, served as the Conducting Officer of the parade.
• During his address, Vice Admiral Sanjay Vatsayan urged the trainees to uphold the Indian Navy’s Core Values of Duty, Honour, and Courage and serve the nation with Dedication, Integrity, and Professionalism.
• The Chief of the Naval Staff Rolling Trophy and Gold Medal for Best Trainee (SSR) was awarded to Kornana Dhanalakshmi.
• The Chief of the Naval Staff Rolling Trophy and Gold Medal for Best Trainee (MR) was awarded to Rudhikesh Maruti Pawar.
• The Rolling Trophy for Best Woman Trainee in the Overall Order of Merit was awarded to Prapti Ramesh Chavhan.
• Devasish was adjudged the Best Navik (GD) of the batch.
• Prior to the parade, a Valedictory Function was organized featuring the presentation of the End-of-Term Report and a Cultural Programme by the trainees.
• The Overall Championship Trophy was won by Kharavela Division, while Angre Division secured the Runners-Up Position.
• The event also marked the unveiling of “Ankur (01/26)”, the Bilingual Trainees’ Magazine of INS Chilka, showcasing the trainees’ experiences, achievements, and transformational journey.

CURRENT AFFAIRS: RANKING AND REPORTS

Global Peace Index (GPI) 2026: Iceland Retains Position as World’s Most Peaceful Country, India Ranks 127th

• The Global Peace Index (GPI) 2026 was released by the Institute for Economics and Peace (IEP), ranking 163 countries based on their levels of safety, security, ongoing conflict, and militarisation.
• The 2026 edition marks the 20th edition of the index and assesses countries using 23 indicators across three domains: societal safety and security, ongoing domestic and international conflict, and militarisation.
• The report stated that global peacefulness declined for the 12th consecutive year, with 99 countries recording deterioration in peace levels.
• The number of active state-based conflicts reached 61, the highest level recorded since World War II.
• Iceland retained its position as the world’s most peaceful country for the 19th consecutive year.

TOP 10 COUNTRIES

1. Iceland
2. New Zealand
3. Switzerland
4. Slovenia
5. Ireland
6. Austria
7. Portugal
8. Singapore
9. Finland, and
10. Japan.

• Russia was ranked as the least peaceful country in the GPI 2026.
• India ranked 127th among 163 countries with a score of 409, with the ranking affected by internal security challenges, regional tensions, and unrest in certain regions.
• In South Asia, Bhutan emerged as the most peaceful nation, securing the 16th position globally.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Assam and Nagaland Sign Tripartite Memorandum of Understanding for Joint Oil and Natural Gas Exploration

• Assam and Nagaland signed a tripartite Memorandum of Understanding (MoU) for the joint exploration and production of crude oil and natural gas along their shared border.
• The MoU was signed in New Delhi in the presence of Union Home Minister Amit Shah and Union Minister of Petroleum and Natural Gas Hardeep Singh Puri.
• The agreement covers six hydrocarbon-rich disputed fields spread across more than 1,000 square kilometres of the Assam–Nagaland border area.
• The MoU establishes a formal framework for coordinated petroleum exploration activities in regions where exploration had remained limited since the mid-1990s due to boundary disputes.
• Under the agreement, revenue generated from oil and natural gas extraction will be shared between Assam and Nagaland through a 50:50 revenue-sharing arrangement.
• The initiative is expected to unlock significant hydrocarbon reserves, boost India’s domestic energy production, attract investments, create employment opportunities, and promote economic growth in the Northeast region.
• Nagaland has also expressed willingness to extend cooperation beyond the six identified fields, highlighting the scope for long-term collaboration and sustainable resource management.

About Nagaland:

• Capital: Kohima
• Chief Minister: Neiphiu Rio
• Governor: Nand Kishore Yadav

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Ministry of Electronics and Information Technology Empanels Six Tech Firms to Deliver Artificial Intelligence,Machine Learning, and Data Science Solutions Across Government Departments

• The Ministry of Electronics and Information Technology (MeitY), through the National e-Governance Division (NeGD), has empanelled Six Technology Companies to develop and deploy Artificial Intelligence (AI), Machine Learning (ML), and Data Science Solutions across government departments.
• The Six Empanelled Firms are Tata Consultancy Services (TCS), NEC Corporation India, Kyndryl Solutions, Innefu Labs, CoRover, and Cactus Communications.
• These companies were selected from a competitive pool of More Than 80 Participating Firms.
• Other notable participants in the selection process included Deloitte, Ernst & Young (EY), Fractal Analytics, PwC, and KPMG.
• The empanelment creates a Ready Pool of AI Service Providers that can be utilized by Central Ministries, State Governments, Public Sector Undertakings (PSUs), and other government agencies.
• The initiative marks a significant shift from merely building AI Infrastructure to deploying AI Solutions at Scale across governance and public service sectors.
• The empanelled firms will support projects related to Citizen Services, Analytics, Process Optimization, Automation, and Digital Governance.
• Key sectors targeted under the initiative include Healthcare, Agriculture, Education, Judiciary, Urban Governance, and Citizen-Centric Services.
• National e-Governance Division is the implementation arm of the Digital India Programme under MeitY.
• The empanelment will remain valid for 2 Years from the date of issuance and may be extended by up to 1 Additional Year.

Recent News :

• In May 2026,The Ministry of Electronics and Information Technology (MeitY) launched two indigenously developed Silicon Photonics technology solutions at the Centre of Excellence for Programmable Photonic Integrated Circuits and Systems (CoE-CPPICS), IIT Madras, Chennai, Tamil Nadu.

About Ministry of Electronics and Information Technology :

• Cabinet Minister : Ashwini Vaishnaw
• Minister of State : Jitin Prasada

CURRENT AFFAIRS: SPORTS NEWS

Vaibhav Sooryavanshi Becomes Youngest Player Selected for India Men’s Cricket Team

• Vaibhav Sooryavanshi, born on 27 March 2011 in Tajpur, Samastipur district, Bihar, became the youngest player ever selected for the Indian men’s cricket team at the age of 15 years and 71 days.
• He broke the 36-year-old record of Sachin Tendulkar, who made his India debut against Pakistan in 1989 at the age of 16 years and 205 days.
• Sooryavanshi was selected for India’s T20 squad for the tours of Ireland and England, and also for the Asian Games 2026.
• His selection came after a remarkable IPL 2026 season with Rajasthan Royals, where he won five individual awards.
• He secured the Orange Cap by scoring 776 runs in 16 matches and also won the awards for Most Valuable Player (MVP), Emerging Player of the Season, Super Striker, and Super Sixes.
• Sooryavanshi hit 72 sixes in IPL 2026, breaking Chris Gayle’s record of 59 sixes in a single IPL season, which was set in 2011.
• He is a left-handed top-order batter and received training at GenNex Cricket Academy, Patna, under coach Manish Ojha.
• Earlier, he became the youngest player to be signed in an IPL auction at the age of 13 years, when he was bought for ₹1.10 crore in IPL 2025.
• He also holds the record as the youngest player to score a century in IPL history.
• Washington Sundar currently holds the record for the youngest Indian to play a T20 International match, making his debut against Sri Lanka in 2017 at the age of 18 years and 80 days.

CURRENT AFFAIRS: IMPORTANT DAYS

World Blood Donor Day 2026 Observed on 14 June

• World Blood Donor Day 2026 was observed globally on 14 June 2026 to raise awareness about the importance of safe blood and blood products and to thank voluntary, unpaid blood donors for their life-saving contributions.
• The day is observed on the birth anniversary of Karl Landsteiner, who was born on 14 June 1868.
• Karl Landsteiner was an Austrian scientist, physician, and immunologist who discovered the ABO blood group system.
• He was awarded the Nobel Prize in Physiology or Medicine in 1930 for his discovery of the ABO blood group system, which made safe blood transfusion possible.
• World Blood Donor Day was first celebrated in 2004 and was officially established by the 58th World Health Assembly in May 2005.
• The Melbourne Declaration was adopted on 11 June 2009, setting a target for countries to obtain all blood supplies from voluntary unpaid blood donors by 2020.
• India conducted the largest blood donation drive on 6 December 2013, during which 61,902 participants donated blood across the country.

Global Wind Day 2026 Observed on 15 June

• Global Wind Day 2026 was observed globally on 15 June 2026 to raise awareness about the importance of wind energy and its potential to transform sustainable energy systems.
• The day is celebrated every year to highlight the power of wind as a clean, renewable, and sustainable source of energy.
• The first Wind Day was organised in 2007 by the European Wind Energy Association (EWEA).
• In 2009, the EWEA partnered with the Global Wind Energy Council (GWEC) and expanded Global Wind Day into a worldwide event.
• In recent years, WindEurope and the GWEC have jointly organised the annual observance of Global Wind Day.
• In 2012, the organisers conducted a global photo competition, encouraging people worldwide to submit photographs representing the theme of the year.

World Elder Abuse Awareness Day 2026 Observed on 15 June

• World Elder Abuse Awareness Day (WEAAD) 2026 was observed globally on 15 June 2026 to raise awareness about elder abuse, neglect, and exploitation, and to promote the rights, dignity, and well-being of older persons.
• The observance highlights the challenges faced by elderly people who suffer from physical, emotional, financial abuse, and neglect.
• SAGE (Services & Advocacy for LGBTQ+ Elders) was formed in 1978 to provide advocacy and services for LGBT elders.
• In 1983, the first book on elder abuse titled “Abuse and Maltreatment of the Elderly: Causes and Interventions” was published.
• In 1988, the National Center on Elder Abuse (NCEA) was established by the S. Administration on Aging.
• In 2003, professors from the University of California, Irvine (UCI) established the nation’s first Elder Abuse Forensic Center.
• World Elder Abuse Awareness Day was first established by the International Network for the Prevention of Elder Abuse (INPEA) in June 2006.
• The day was officially recognised by the United Nations General Assembly (UNGA) in December 2011 through Resolution 66/127.

Daily CA One- Liner: June 14 & 15

• India recorded a Current Account Surplus (CAS) of US$ 7.1 Billion, equivalent to 0.7% of GDP, during the Fourth Quarter (Q4: January–March) of FY 2025-26.
• The Reserve Bank of India (RBI) imposed a Monetary Penalty of ₹3.90 Lakh on IIFL Samasta Finance Limited for violations of Know Your Customer (KYC) Directions and Fraud Risk Management in NBFCs Directions.
• Bank of India (BOI) inaugurated a dedicated Strategic Business Branch (SBB) at Nariman Point, Mumbai, Maharashtra to strengthen its Digital and Partnership-Led Financing Business.
• The Reserve Bank of India (RBI) Survey of Professional Forecasters (SPF) projected India’s Real GDP Growth at 6.5% for FY 2026-27 (FY27).
• The Reserve Bank of India (RBI) introduced Two Major Liquidity Management Measures: a US Dollar–Rupee Swap Facility for External Commercial Borrowings (ECBs) and a Swap Window for Fresh Foreign Currency Non-Resident (Bank) [FCNR(B)] Deposits.
• Sanjay Malhotra, Governor of the Reserve Bank of India (RBI), stated that the proposal to introduce Polymer Banknotes in India is currently under consideration and is at a Preliminary Evaluation Stage.
• The Government of India (GoI) has appointed Lieutenant General Dhiraj Seth as the Next Chief of the Army Staff (COAS) with effect from the afternoon of 30 June 2026.
• The Central Government has nominated Sanjay Lohiya as a Director on the Central Board of the Reserve Bank of India (RBI), with effect from 11 June 2026.
• The First Batch of Women Cadets Trained at the National Defence Academy (NDA) has been Commissioned as Officers in the Indian Defence Forces, marking a historic milestone in Women’s Participation in Military Service.
• INS Chilka witnessed the Passing Out Parade (POP) of Batch 01/26 on 12 June 2026, marking the successful completion of 16 Weeks of Rigorous Ab-Initio Naval Training by 3,011 Trainees.
• The Ministry of Electronics and Information Technology (MeitY), through the National e-Governance Division (NeGD), has empanelled Six Technology Companies to develop and deploy Artificial Intelligence (AI), Machine Learning (ML), and Data Science Solutions across government departments.
• Air India has launched its first “Easy Connect” flights under the Government of India’s hub-and-spoke aviation model, with services from Varanasi scheduled to commence on 25 June 2026
• Assam’s first “Blue Valley Cluster”, an industrial hub focused on flavours, fragrances, and AYUSH, was launched in the presence of the Ambassador of the European Union (EU) to India, Hervé Delphin, and Assam Chief Minister Himanta Biswa Sarma
• The Government of Andhra Pradesh launched “Yogandhra-2026”, a statewide yoga promotion and awareness campaign, at the Veerabhadra Swamy Temple premises in Lepakshi, Sri Sathya Sai district
• The Ministry of Education (MoE) has issued 3 Letters of Approval (LoAs) to three globally reputed Foreign Higher Education Institutions (FHEIs)—University of Bristol, University of York, and University of New South Wales (UNSW)—to establish campuses in India
• The Global Peace Index (GPI) 2026 was released by the Institute for Economics and Peace (IEP), ranking 163 countries based on their levels of safety, security, ongoing conflict, and militarisation
• Assam and Nagaland signed a tripartite Memorandum of Understanding (MoU) for the joint exploration and production of crude oil and natural gas along their shared border
• Vaibhav Sooryavanshi, born on 27 March 2011 in Tajpur, Samastipur district, Bihar, became the youngest player ever selected for the Indian men’s cricket team at the age of 15 years and 71 days
• World Blood Donor Day 2026 was observed globally on 14 June 2026 to raise awareness about the importance of safe blood and blood products and to thank voluntary, unpaid blood donors for their life-saving contributions
• Global Wind Day 2026 was observed globally on 15 June 2026 to raise awareness about the importance of wind energy and its potential to transform sustainable energy systems
• World Elder Abuse Awareness Day (WEAAD) 2026 was observed globally on 15 June 2026 to raise awareness about elder abuse, neglect, and exploitation, and to promote the rights, dignity, and well-being of older persons