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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

United Nations Conference on Trade and Development World Investment Report 2026: India Becomes the World's 11th-Largest Foreign Direct Investment Recipient

• According to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2026, India became the 11th-largest recipient of Foreign Direct Investment (FDI) in the world in 2025, improving from 13th position in 2024.

Key Highlights :

• FDI inflows into India increased by 44%, rising from USD 27.09 billion (2024) to USD 38.89 billion (2025).
• India's improved ranking was driven by policy support for advanced manufacturing, infrastructure development, and deeper integration into Global Value Chains (GVCs).
• India's strong FDI performance contrasted with developing economies, where FDI inflows increased by only 2%, while developing Asia recorded 3% growth.
• Despite higher overall FDI inflows, the value of announced greenfield investments in India declined from USD 111.14 billion (2024) to USD 74.12 billion (2025).
• India attracted the world's largest announced greenfield investment project in 2025, with Alphabet Inc. (USA) announcing a USD 14.5 billion data centre investment.
• Poland-based Hynfra announced a USD 4 billion investment in Andhra Pradesh, making Poland an important source of investment for India.
• India's outward FDI increased by 47%, rising from USD 24.26 billion (2024) to USD 35.66 billion (2025).
• With this growth, India became the 18th-largest source (home economy) of global FDI in 2025.
• Overseas greenfield investment announcements by Indian companies increased by 41% to USD 25.29 billion in 2025.
• Rana Group announced a USD 10 billion automotive Original Equipment Manufacturing (OEM) facility in the United Arab Emirates (UAE), ranking among the world's five largest greenfield investment announcements.
• UNCTAD's FDI methodology includes equity capital, reinvested earnings, and intra-company debt, making its estimates different from India's official FDI statistics.
• The Reserve Bank of India (RBI) calculates Net FDI by deducting outward direct investment by Indian companies from total inward FDI.
• According to the RBI methodology, India's Net FDI increased from USD 2.83 billion (2024) to USD 3.34 billion (2025).
• The United States remained the world's largest FDI destination in 2025, despite a 2% decline in inflows to USD 277 billion.
• Singapore, Hong Kong (China), and China followed the United States as the next largest global FDI destinations.
• China's FDI inflows declined from USD 116.24 billion (2024) to USD 104.66 billion (2025) due to economic restructuring and Global Value Chain (GVC) shifts.

Standard Chartered Becomes First Bank in India to Process SWIFT Retail Cross-Border Remittance in 37 Seconds

• Standard Chartered became the first bank in the world to successfully process a cross-border remittance under SWIFT's new Retail Payments Framework.
• The first live cross-border transaction was completed from Australia to India in just 37 seconds, demonstrating near real-time international payments.
• The transaction was initiated by Westpac (Australia) and routed through Standard Chartered using the SWIFT (Society for Worldwide Interbank Financial Telecommunication) network.
• The transaction enabled near real-time credit to the beneficiary bank in India, showcasing the efficiency of SWIFT's enhanced payment infrastructure.
• Standard Chartered became the first bank in India to process a cross-border remittance under SWIFT's Retail Payments Framework.
• The SWIFT Retail Payments Framework is designed to make international remittances as simple, secure, transparent, and efficient as domestic payment systems.
• Key features of the SWIFT Retail Payments Framework include near real-time settlement, end-to-end payment tracking, upfront fee transparency, and no hidden foreign exchange (FX) deductions.
• The framework ensures that the full amount sent is credited to the beneficiary's bank account without any hidden foreign exchange deductions.
• The new payment system provides greater transparency, faster settlement, and improved customer experience for cross-border remittances.
• The initiative represents a major advancement in the modernization of global cross-border payment systems.
• SWIFT aims to make international payments as fast and seamless as domestic real-time payment systems such as India's Unified Payments Interface (UPI).

Bank of Maharashtra Unveils ‘FinSpark’26’ National Cybersecurity Hackathon

• Bank of Maharashtra (BoM), one of India's leading Public Sector Banks (PSBs), launched "FinSpark'26", a national-level cybersecurity hackathon, under the theme "Securing the Future of Banking".
• FinSpark'26 aims to encourage students and dropouts across India to develop innovative solutions for real-world cybersecurity challenges in the banking sector.
• The hackathon is being organised by Bank of Maharashtra (BoM) in association with the Indian Banks' Association (IBA), Department of Financial Services (DFS), Government of India (GoI), and COEP Technological University, Pune.
• FinSpark'26 offers a prize pool of more than ₹10 lakh to encourage innovation in banking cybersecurity.
• The top 20 teams will get an opportunity to present their solutions at the Grand Finale to be held at COEP Technological University, Pune, Maharashtra.
• The winning teams will also receive an opportunity to showcase their innovations at the Global FinTech Fest 2026.
• The hackathon focuses on developing solutions in critical areas of banking security and cybersecurity.
• Key focus areas include insider threat detection, privileged access misuse, Artificial Intelligence (AI)-driven cybersecurity telemetry correlation, transaction behaviour analysis, fraud prevention, and proactive threat identification.
• Eligible participants can register individually or as a team of up to four members.
• Participants are required to select a problem statement, develop a structured idea or prototype, and submit their solution for evaluation.
• Entries will be evaluated on business potential and relevance, security considerations, innovation and uniqueness, user experience, scalability, and ease of development and maintenance.

About Bank of Maharashtra:

• Headquarters: Pune, Maharashtra
• Founded: September 16, 1935
• MD & CEO: Nidhu Saxena
• Tagline: "One Family One Bank"

National Bank for Agriculture and Rural Development Launches Gramodyam Programme to Promote Rural Entrepreneurship in India

• National Bank for Agriculture and Rural Development (NABARD) launched Gramodyam, an entrepreneurship development programme for rural youth, during its 45th Foundation Day celebrations.
• Gramodyam aims to identify, nurture, mentor, and empower aspiring rural entrepreneurs by helping them establish sustainable rural enterprises and generate employment opportunities.
• The programme seeks to convert local ideas into viable businesses, promoting sustainable economic growth in rural India.

Key Highlights :

• Gramodyam is a three-year pilot programme with a target of creating approximately 4,000 rural entrepreneurs.
• The programme follows a digital-first hybrid delivery model, ensuring implementation across all States and Union Territories (UTs) of India.
• Gramodyam is a collaborative initiative of NABARD and the National Skill Development Corporation (NSDC) under the Ministry of Skill Development and Entrepreneurship (MSDE).
• The programme is being implemented by the Institute for Industrial Development (IID).
• The initiative provides a structured entrepreneurial journey through digital platforms, social media engagement, community outreach, and on-ground mobilisation.
• Every participant will undergo e-KYC verification through NSDC, ensuring transparency, authenticity, and accountability.
• Participants receive psychometric assessments, career counselling, Entrepreneurship Development Training (EDP), industry/trade-specific skill training, mentoring, and enterprise establishment support.
• Gramodyam offers an integrated support framework including business opportunity identification, business planning, enterprise management training, credit facilitation, market linkages, mentorship, and post-establishment handholding.
• The programme assists participants in preparing bankable Detailed Project Reports (DPRs) to improve access to institutional finance.
• Beneficiaries will receive support in establishing credit linkages with NABARD-supported Regional Rural Banks (RRBs) and other financial institutions.
• Digital loan application assistance and guidance on Government schemes and financial incentives will also be provided to reduce barriers to enterprise creation.
• The programme delivery system is integrated with the NSDC digital platform, enabling real-time monitoring, tracking, and evaluation of participants' progress.
• Rural entrepreneurship under Gramodyam covers both farm-based and non-farm enterprises, strengthening the rural economy through skill development, credit support, and market linkages.

About NABARD:

• It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India.
• Headquarters: Mumbai, Maharashtra
• Founded: July 12, 1982 by the Government of India
• Chairman: Shaji K V

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Supports Palestine’s Bid for Full United Nations Membership and Announces New Aid Package

• India has reiterated its support for Palestine’s application for full membership of the United Nations (UN) and reaffirmed its commitment to the establishment of an independent, sovereign, and peaceful Palestine.
• India expressed its support during international meetings held in Brussels, Belgium and New York, United States of America, highlighting the importance of the two-state solution for achieving lasting peace in West Asia.
• India maintained that dialogue and diplomacy remain the most effective approaches for ensuring peace and stability between Israel and Palestine.
• Minister of External Affairs Dr. S. Jaishankar announced a new humanitarian and developmental assistance package for Palestine.
• Under the new assistance programme, India will establish:
• A Specialty Medical Hospital
• An Artificial Limb Fitting Centre
• An Institute for Vocational Training
• These projects aim to improve healthcare facilities, rehabilitation services, skill development, and livelihood opportunities for the people of Palestine.
• India also pledged continued support to the United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA), which provides humanitarian assistance to Palestinian refugees.
• United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA) delivers essential services including education, healthcare, relief assistance, social services, and emergency humanitarian support.
• During the Palestine Donor Group Ministerial Meeting held in Brussels, Belgium, Sripriya Ranganathan, Secretary (Consular, Passport and Visa), Ministry of External Affairs, represented India and highlighted its commitment towards development cooperation, capacity building, and humanitarian assistance for Palestine.
• India’s support reflects its long-standing partnership with the Palestinian people and its focus on promoting peace, development, and humanitarian cooperation in the region.

About United Nations Relief and Works Agency for Palestine Refugees in the Near East (UNRWA)

• Established: 1949
• Headquarters: Amman, Jordan and Gaza City, Palestine
• Commissioner-General: Philippe Lazzarini.

Delhi Government Renames Mahila Samriddhi Yojana as Delhi Lakshmi Yojana

• The Government of the National Capital Territory (NCT) of Delhi has renamed its flagship women's welfare scheme Mahila Samriddhi Yojana as the Delhi Lakshmi Yojana.
• The scheme is expected to be launched around Raksha Bandhan 2026 and aims to provide ₹2,500 per month to eligible women through the Direct Benefit Transfer (DBT) mechanism.
• The initiative is intended to strengthen the financial security and economic independence of women belonging to economically weaker sections.
• Chief Minister Rekha Gupta announced the renaming as part of the government's preparations for the official rollout of the scheme.
• The change in the scheme's name does not alter its objective, which remains focused on providing direct financial assistance to eligible women.
• Under the scheme, the monthly financial assistance will be credited directly to beneficiaries' bank accounts through the Direct Benefit Transfer (DBT) system, ensuring transparency and reducing leakages.
• The eligibility criteria, registration process, required documents, and implementation guidelines will be notified by the Delhi Government before the official launch.
• The scheme was announced as a key election promise and is one of the flagship welfare initiatives of the Delhi Government.
• Similar women-centric financial assistance schemes implemented in other states include Ladli Behna Yojana (Madhya Pradesh), Mukhyamantri Majhi Ladki Bahin Yojana (Maharashtra), and Subhadra Yojana (Odisha).

About Delhi (National Capital Territory):

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Taranjit Singh Sandhu
• Capital: New Delhi
• National Parks: None
• Wildlife Sanctuaries: Asola Bhatti (Indira Priyadarshini) Wildlife Sanctuary

RECENT NEWS

• Respectable Union Commerce and Industry Minister Piyush Goyal has launched the BHAVYA Portal in New Delhi. This portal will implement the Bharat Audyogik Vikas Yojana (BHAVYA), it is a flagship scheme and it is aimed at to 100 world-class industrial parks across India. 

Central Vista Redevelopment Area Renamed as Kartavya Bhawan Area

• The Government of India has officially renamed the Central Vista redevelopment area as the Kartavya Bhawan Area (also referred to as the Kartavya Bhawan Complex).
• Union Minister of Housing and Urban Affairs, Manohar Lal, announced that the term "Central Vista" should no longer be used in official communications and government documents, and should be replaced with "Kartavya Bhawan Area".
• The announcement was made during the Foundation Day celebrations of the Central Public Works Department (CPWD).
• The renaming is aimed at reflecting India's evolving national identity and continuing the effort to replace colonial-era nomenclature with names rooted in Indian values and public service.
• The term "Kartavya" means "Duty", symbolising the responsibility and commitment of public institutions and civil servants towards citizens.
• The Kartavya Bhawan Area will include:
• Existing Kartavya Bhawans housing Central Government offices.
• Kartavya Path, the ceremonial boulevard connecting Rashtrapati Bhavan and India Gate.
• New government office buildings developed under the Central Vista Redevelopment Project.
• The Common Central Secretariat, which will accommodate various Union Ministries.
• The Central Vista Redevelopment Project is one of the largest administrative infrastructure projects undertaken by the Government of India and includes the construction of 10 Common Central Secretariat buildings to improve administrative efficiency.
• The renaming follows the 2022 decision to rename Rajpath as Kartavya Path, reinforcing the government's initiative to replace colonial symbols with names reflecting democracy, public service, and civic responsibility.
• The newly developed complex housing the Prime Minister's Office (PMO), Cabinet Secretariat, and National Security Advisor (NSA) has also been named Seva Teerth.

Unjha Cumin (Jeera) and Unjha Fennel (Saunf) Receive Geographical Indication (GI) Tag

• The Geographical Indications Registry has granted the Geographical Indication (GI) tag to Unjha Cumin (Jeera) and Unjha Fennel (Saunf), recognising them as unique agricultural products originating from Unjha, Mehsana district, Gujarat.
• The GI certification strengthens the global identity of Gujarat's spice sector, enhances export opportunities, improves farmers' income, and protects the products from imitation and misuse.
• The registration was facilitated through the joint efforts of the Unjha Agricultural Produce Market Committee (APMC), Department of Horticulture and Farmers' Welfare, Government of Gujarat, Sardarkrushinagar Dantiwada Agricultural University (SDAU), and the Entrepreneurship Development Institute of India (EDII).
• The GI tag ensures that only cumin and fennel produced in the Unjha region can be marketed under these names, preserving their authenticity and regional identity.
• The recognition is expected to increase consumer confidence, strengthen regional branding, boost export competitiveness, and safeguard the traditional agricultural heritage of Gujarat.
• Farmers are expected to benefit through better market prices, higher export demand, greater value addition, and improved protection against counterfeit products.
• Unjha, located in Mehsana district of Gujarat, is one of Asia's largest spice trading centres and a major trading hub for cumin (jeera), fennel (saunf), isabgol, and other seed spices.
• Gujarat is the largest producer of cumin in India, while India is the world's largest producer and exporter of cumin.
• Gujarat is also one of the leading producers of fennel, with major cultivation in Mehsana, Patan, Banaskantha, and Gandhinagar districts.
• Other important Geographical Indication (GI)-tagged agricultural products of Gujarat include Gir Kesar Mango, Bhalia Wheat, Kachchhi Kharek, and Amalsadi Chikoo.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Dev Vrat
• Capital: Gandhinagar
• National Parks: Gir, Blackbuck, Gulf of Kutch (Marine), Vansda National Parks
• Wildlife Sanctuaries: Nal Sarovar Bird, Wild Ass, Kutch Desert, Barda, Purna Wildlife Sanctuaries

RECENT NEWS

• The State Government of Gujarat has unveiled the ‘Viksit Gujarat – Data Centre Policy 2026-29’ to position the state as the leading destination for the hyperscale data centres, artificial intelligence (AI) infrastructure and cloud-based digital services.

Directorate General of Foreign Trade Notifies Tariff Rate Quota (TRQ) Allocation Procedure Under India–Oman Comprehensive Economic Partnership Agreement (CEPA)

• The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry has notified the Tariff Rate Quota (TRQ) allocation procedure under the India–Oman Comprehensive Economic Partnership Agreement (CEPA).
• The India–Oman Comprehensive Economic Partnership Agreement (CEPA) came into force on 1 June 2026 to enhance bilateral trade, investment, and economic cooperation between India and Oman.
• Under the agreement, specified goods imported from Oman will be eligible for preferential tariff treatment, including reduced or zero customs duty, within the prescribed quota limits.
• A Tariff Rate Quota (TRQ) allows the import of a specified quantity of goods at lower or nil customs duty, while imports beyond the quota are subject to the applicable normal customs duty.
• Products covered under the TRQ mechanism include dates, marble and travertine blocks, copper weld wire, aluminium ingots, aluminium billets, aluminium wires, ethylene glycol, linear alkylbenzenes, low-density polyethylene (LDPE), and selected petrochemical products.
• Eligible importers must follow the DGFT-prescribed allocation procedure to avail concessional tariff benefits under the agreement.
• Importers must submit a valid Certificate of Origin issued by the competent authority in Oman to claim preferential customs duty.
• The Tariff Rate Quota (TRQ) allocations will be administered according to India's Financial Year (1 April–31 March).
• The notification is aimed at ensuring the effective implementation of the India–Oman Comprehensive Economic Partnership Agreement (CEPA) and facilitating seamless bilateral trade.

About Directorate General of Foreign Trade (DGFT)

• Parent Ministry: Ministry of Commerce and Industry, Government of India
• Established: 1991 (replacing the Chief Controller of Imports and Exports)
• Headquarters: New Delhi
• Director General: Lav Aggarwal

Centre Proposes Autonomous Hill Development Councils in Every District of Ladakh Under Article 371 Framework

• The Central Government has proposed the establishment of Autonomous Hill Development Councils (AHDCs) in every district of Ladakh to strengthen local self-governance while preserving the region's unique identity.
• At present, Leh and Kargil have Autonomous Hill Development Councils.
• The proposal extends the system to the newly created districts of Sham, Nubra, Changthang, Zanskar, and Drass.
• The proposed councils are expected to function under a special constitutional framework inspired by Article 371 of the Constitution of India, ensuring greater local participation in governance while safeguarding the interests of Ladakh.
• Article 371 provides special constitutional provisions to certain states and regions based on their historical, cultural, geographical, tribal, administrative, and developmental needs, while preserving India's federal structure.
• States and regions covered under Article 371 and its sub-clauses include Maharashtra, Gujarat, Nagaland, Assam, Manipur, Andhra Pradesh, Telangana, Sikkim, Mizoram, Arunachal Pradesh, Goa, and the Hyderabad-Karnataka region of Karnataka.
• The proposed Autonomous Hill Development Councils in Ladakh will have powers over land administration, local recruitment, district development planning, health, education, tourism, welfare schemes, and local infrastructure.
• The initiative aims to promote grassroots democracy, improve administrative efficiency, ensure balanced regional development, generate local employment, and protect tribal culture and local traditions.
• Despite the enhanced autonomy, Ladakh will continue to remain a Union Territory, as the proposal does not confer statehood.
• The proposal follows long-standing demands from Leh Apex Body (LAB) and Kargil Democratic Alliance (KDA) for constitutional safeguards after Ladakh became a Union Territory in August 2019.
• The major demands include protection of land rights, reservation in employment, preservation of tribal identity and culture, environmental protection, and greater democratic representation.
• Environmentalist Sonam Wangchuk has been one of the prominent voices advocating constitutional safeguards for Ladakh.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Prime Minister Narendra Modi Concludes Historic New Zealand Visit, Strengthening Bilateral Strategic Partnership

• Prime Minister (PM) Narendra Modi visited New Zealand from 10–11 July 2026 as the final leg of his three-nation tour, which included Indonesia, Australia, and New Zealand.
• The visit was made at the invitation of Christopher Luxon, Prime Minister of New Zealand.
• PM Narendra Modi arrived in Auckland, where he was received by PM Christopher Luxon, marking the first visit by an Indian Prime Minister to New Zealand in 40 years.

Key Highlights :

• During the visit, PM Modi received the traditional Māori Powhiri ceremonial welcome at Government House, Auckland, showcasing New Zealand's indigenous Māori culture and traditions.
• PM Narendra Modi held wide-ranging bilateral talks with Christopher Luxon at Government House, Auckland.
• India and New Zealand agreed to establish a Maritime Security Dialogue to strengthen cooperation in the Indo-Pacific region.
• New Zealand designated Maritime Security as the priority pillar under the Indo-Pacific Oceans Initiative (IPOI).
• New Zealand also announced its decision to join the Government of India-led Global Biofuels Alliance (GBA).
• PM Narendra Modi presented Christopher Luxon with a hockey stick signed by the Indian Women's Hockey Team, commemorating their victory in the FIH Hockey Women's Nations Cup held in New Zealand.
• He also gifted Christopher Luxon a Dhokra Tree of Life sculpture from Bastar, Chhattisgarh, and a traditional Uttarakhandi Cap.
• PM Modi presented Chris Hipkins, Leader of the Opposition in New Zealand, with a Zari Zardosi Wall Hanging from Lucknow, Uttar Pradesh.
• During his Australia visit, PM Modi gifted Anthony Albanese a Dhokra boat sculpture, premium Indian coffee, and a vinyl edition of the Colonial Cousins
• He presented Jodie Haydon (spouse of Anthony Albanese) with a wool embroidered stole from Kashmir.
• Margaret Gardner, Governor of Victoria, received a Madhubani painting from the Mithila region of Bihar.
• Sam Mostyn, Governor-General of Australia, was presented with a marble inlay work box.
• Angus Taylor, Leader of the Opposition in Australia, received a hand-carved elephant sculpture with latticework from Rajasthan.
• During his Indonesia visit, PM Modi presented President Prabowo Subianto with Manohari Gold Tea from Assam, Aipan art of Lord Shiva from Uttarakhand, and a traditional Kashmiri Papier-Mâché bowl.
• Puan Maharani, Speaker of the Indonesian Parliament, was gifted an Odisha Ikat (Banda) handloom textile.

CURRENT AFFAIRS : DEFENCE NEWS

Raksha Rajya Mantri Sanjay Seth Reviews Canteen Services Department at 80th Board of Control Canteen Services Meeting in Ranchi

• Raksha Rajya Mantri Sanjay Seth reviewed the functioning of the Canteen Services Department (CSD) during the 80th meeting of the Board of Control Canteen Services (BOCCS) held in Ranchi, Jharkhand, on 14 July 2026.
• The meeting focused on improving operational efficiency, administrative reforms, and enhancing service quality for serving Defence personnel, Ex-servicemen, and their dependents.
• Major agenda items included enhancement of budgetary support for CSD, modernisation of CSD depots, extension of Central and State Government subsidies on electric two-wheelers (EVs) purchased through CSD, induction of cooperative products into the supply chain, and human resource-related reforms.
• Senior officials from the Ministry of Defence (MoD), Defence Services, and the Canteen Services Department (CSD) participated in the meeting.
• Sanjay Seth stated that the ongoing transformation of CSD is driven by continuous reforms and a beneficiary-centric approach to meet the evolving needs of the Defence Forces community.
• In line with Prime Minister Narendra Modi's vision of Aatmanirbhar Bharat, Sahkar se Samriddhi, and Vocal for Local, CSD is actively promoting indigenous products through its nationwide supply network.
• The review highlighted the implementation of decisions taken during the previous BOCCS review meeting held on 12 March 2026.
• Products manufactured by the Tribal Cooperative Marketing Development Federation of India Limited (TRIFED), Khadi and Village Industries Commission (KVIC), National Agricultural Cooperative Marketing Federation of India Limited (NAFED), National Cooperative Organics Limited (NCOL), and other cooperative organisations are being inducted into the CSD product portfolio in a phased manner.
• The inclusion of cooperative products is expected to provide greater market access for artisans, tribal communities, farmers, and cooperative institutions, while promoting indigenous manufacturing and inclusive economic growth.
• The meeting also deliberated on ensuring the availability of assistive devices for Divyang Defence personnel, Ex-servicemen, and their dependents through the CSD.
• During the visit, Sanjay Seth inspected the CSD Depot, Ramgarh, one of the five pilot depots selected for modernisation.
• The Ramgarh Depot is being upgraded into a modern warehousing and logistics facility to meet the growing operational requirements of the CSD.
• The Ramgarh modernisation project will serve as a model for the phased upgradation of CSD depots across India.
• Sanjay Seth also reviewed various welfare initiatives undertaken by CSD for Ex-servicemen and appreciated efforts to improve accessibility, service delivery, and convenience for veterans and their families.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Union Minister Dr. Jitendra Singh Launches Phase-III of Biomedical Research Career Programme with ₹1,500 Crore Joint Department of Biotechnology–Wellcome Trust Funding

• Union Minister Dr. Jitendra Singh launched Phase-III of the Biomedical Research Career Programme (BRCP) with a total outlay of ₹1,500 crore to strengthen India's biomedical research ecosystem.
• Phase-III of BRCP has funding support of ₹1,000 crore from the Department of Biotechnology (DBT) and ₹500 crore from the Wellcome Trust, United Kingdom (UK).
• The programme is jointly implemented by the Department of Biotechnology (DBT), Government of India, and the Wellcome Trust (UK) through the DBT–Wellcome Trust India Alliance.
• BRCP aims to build a globally competitive biomedical research workforce, including basic scientists, clinician-researchers, public health experts, science communicators, and research managers.
• The programme promotes interdisciplinary, collaborative, and translational biomedical research to develop technologies, diagnostics, and affordable healthcare solutions.
• Phase-III seeks to strengthen India's biomedical innovation ecosystem while encouraging international collaborations and philanthropic partnerships in scientific research.
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved Phase-III of BRCP, ensuring continued support for research fellowships and research grants.
• Biomedical Research Career Programme (BRCP) was originally launched in 2008 and has evolved into one of India's most prestigious scientific career development programmes.
• Since its launch, BRCP has supported more than 500 researchers, strengthened research across over 200 institutions, trained thousands of students and early-career scientists, and produced globally recognised scientific contributions.
• Phase-III will expand support for outstanding researchers at different career stages and accelerate the translation of laboratory research into healthcare innovations.
• India's bioeconomy expanded nearly 20-fold, from USD 10 billion in 2014 to over USD 195 billion in 2025, and is projected to reach USD 300 billion by 2030.
• India currently has nearly 12,000 biotechnology startups, making it one of the world's fastest-growing biotechnology ecosystems.
• India has emerged as one of the world's leading vaccine manufacturers and is steadily strengthening its position as a global biotechnology hub.

Japan Aerospace Exploration Agency Successfully Completes Japan's First Reusable Rocket Lift-off and Landing Test

• The Japan Aerospace Exploration Agency (JAXA) successfully conducted the first lift-off and landing test of its RV-X reusable rocket prototype at the Noshiro Testing Center, Akita Prefecture, Japan.
• During the test, the RV-X rocket lifted off to approximately 10 metres (33 feet), remained airborne for about 40 seconds, and completed a safe vertical landing.
• The test marked Japan's first successful lift-off and landing demonstration of a reusable rocket prototype.
• RV-X successfully demonstrated Vertical Take-Off and Vertical Landing (VTVL) technology, a key capability for future reusable launch vehicles.
• The RV-X reusable rocket was jointly developed by the Japan Aerospace Exploration Agency (JAXA) and Mitsubishi Heavy Industries (MHI).
• The RV-X measures 3 metres in length and 1.8 metres in diameter.
• The prototype is equipped with an enhanced-durability rocket engine and four shock-absorbing landing legs to enable safe and repeated landings.
• The successful test is a major milestone in Japan's reusable launch vehicle programme, aimed at developing next-generation reusable space transportation systems.
• The reusable rocket programme is intended to succeed Japan's single-use H3 launch vehicle, improving efficiency and sustainability in space launches.
• The development of reusable launch vehicle technology is expected to reduce space launch costs, increase launch frequency, and strengthen Japan's global competitiveness in the commercial space sector.

About Japan:

• Capital: Tokyo
• Currency: Japanese Yen (JPY)
• Prime Minister: Sanae Takaichi

Indian Space Research Organisation Successfully Conducts Three Critical Gaganyaan Crew Module System Tests

• The Indian Space Research Organisation (ISRO) successfully conducted three critical tests of the Gaganyaan Crew Module (CM) systems as part of India's Human Spaceflight Programme.
• The successful tests mark another significant milestone towards India's first crewed orbital mission under the Gaganyaan Mission.
• The first test validated the Crew Module Uprighting System (CMUS) through a Float Inflation Test.
• The Crew Module Uprighting System (CMUS) ensures that the Crew Module returns to an upright position after splashdown in the sea, which is a critical astronaut safety feature.
• The CMUS is based on stored cold-gas technology, enabling automatic uprighting of the crew module after ocean landing.
• The second test involved the Umbilical Separation Testing of the Connect-Disconnect System (CS-CDS).
• The Connect-Disconnect System (CS-CDS) connects the Crew Module, which houses the astronauts, with the Service Module, which provides power and propulsion during the mission.
• The Connect-Disconnect System consists of CSU-1 on the Crew Module side and CSU-2 on the Service Module side.
• During re-entry into Earth's atmosphere, the Service Module separates from the Crew Module after CSU-1 disconnects, followed by the separation of CSU-2 before atmospheric re-entry.
• The successful test demonstrated the clean separation of CSU-2 along with the structural stability of the Crew Module panel and its interfaces.
• The third test validated the structural qualification of the Crew Module under Apex Cover separation loads.
• The Apex Cover protects the parachutes and associated systems during the mission and is jettisoned before parachute deployment to ensure the safe descent of the Crew Module.
• The successful Apex Cover separation test confirmed the structural integrity of the Crew Module during parachute deployment.
• These tests collectively validated the splashdown recovery capability, crew module separation mechanisms, and parachute deployment sequence, all of which are essential for the safe return of astronauts.

Recent News :

• In July 2026, The Indian Space Research Organisation (ISRO) successfully conducted the first static ground test of the Sub-Orbital Launch Vehicle for Experiments (SOLVE).

About ISRO:

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka
• Chairman: V. Narayanan

CURRENT AFFAIRS: RANKING AND REPORTS

MRF Limited Becomes India’s Most Valuable and Strongest Tyre Brand in Brand Finance India 100 – 2026 Report

• MRF Limited (Madras Rubber Factory Limited) has been recognised as the Most Valuable Tyre Brand and the Strongest Tyre Brand in India in the Brand Finance India 100 – 2026 Report.
• MRF Limited also secured the position of the 3rd Strongest Tyre Brand in the World in the Brand Finance Tyres 25 – 2026 Rankings.
• The company achieved a Brand Strength Index (BSI) score of 87.7 out of 100, highlighting strong customer loyalty, brand reputation, marketing efficiency, and business performance.
• In the Brand Finance India 100 – 2026 Report, MRF Limited was ranked among the Top 50 Most Valuable Brands in India.
• The ranking was based on parameters such as financial performance, market presence, brand investment, customer perception, and overall brand strength.
• The achievement reflects the leadership of MRF Limited in the Indian tyre manufacturing sector and highlights India's growing importance in the global automobile industry.
• According to the Brand Finance India 100 – 2026 Report, the total brand value of India's Top 100 brands exceeded $236.5 billion in 2026.
• The report evaluates leading brands across sectors including banking, information technology, automobile, Fast-Moving Consumer Goods (FMCG), telecommunications, and manufacturing.

About MRF Limited (Madras Rubber Factory Limited)

• Established: 1946
• Headquarters: Chennai, Tamil Nadu, India
• Founder: K. M. Mammen Mappillai

About Brand Finance

• Established: 1996
• Headquarters: London, United Kingdom

CURRENT AFFAIRS: SPORTS NEWS

India Wins Five Gold Medals at 56th International Physics Olympiad (IPhO) 2026

• India secured 5 gold medals at the 56th International Physics Olympiad (IPhO) 2026, with all five members of the Indian team winning gold medals.
• With this achievement, India finished in joint first place along with China, Kazakhstan, Russia, South Korea, and Taiwan.
• The 56th International Physics Olympiad (IPhO) 2026 was held in Bucaramanga, Colombia, with 381 students from 87 countries participating.
• The five Indian gold medalists are:
• Kanishk Jain – Pune, Maharashtra
• Riddhesh Anant Bendale – Indore, Madhya Pradesh
• Rishit Garg – Dwarka, Delhi
• Shresth Suraiya – Mumbai, Maharashtra
• Svarit Joshi – Ahmedabad, Gujarat
• The Homi Bhabha Centre for Science Education (HBCSE) trained and selected the Indian team through orientation camps, theoretical and laboratory training, and pre-departure camps.
• The Indian delegation was led by Prof. Anwesh Mazumdar (HBCSE, Tata Institute of Fundamental Research) and Dr. Leena Joshi (St. Xavier's College, Mumbai).
• Scientific Observers for the team were Prof. Ananda Dasgupta (Indian Institute of Science Education and Research, Kolkata) and Ms. Nisha Kelkar (Gogate-Joglekar College).
• The 2026 edition marked India's 27th participation in the International Physics Olympiad (IPhO).
• Over the last 10 years, every Indian participant at the International Physics Olympiad (IPhO) has won either a gold or silver medal, reflecting India's consistent excellence in international science Olympiads.

About International Physics Olympiad (IPhO)

• Established: 1967
• Type: Annual international competition for secondary/high school students in Physics.
• Objective: Promote excellence in Physics education, scientific talent, and international cooperation among young students.
• Indian Nodal Organisation: Homi Bhabha Centre for Science Education (HBCSE), Tata Institute of Fundamental Research (TIFR), Mumbai.

CURRENT AFFAIRS : OBITUARIES

Veteran Congress Leader and Former Rajya Sabha MP H. Hanumanthappa Passed away at 94

• Veteran Indian National Congress (INC) leader and former Member of Parliament (MP) Hanumanthappa passed away at the age of 94 in Chitradurga, Karnataka.
• Hanumanthappa was born on 13 May 1932 in Guddadarangenahalli, Chitradurga district, Karnataka.
• He was a senior leader of the Indian National Congress (INC) and made significant contributions to public service and rural development.
• Hanumanthappa served three terms as a Rajya Sabha Member of Parliament (MP) representing the state of Karnataka.
• He held several important positions in the Central Government, including serving as the Chairman of the Central Silk Board (CSB) for two terms.
• The Central Silk Board (CSB) functions under the Ministry of Textiles (MoT) and is responsible for the development and promotion of the sericulture sector in India.
• Hanumanthappa actively championed the implementation of the Upper Bhadra Project, aimed at providing water to the drought-prone regions of Chitradurga.
• He also worked extensively for the implementation of agricultural development projects to improve irrigation, farm productivity, and rural livelihoods in Chitradurga district.
• He is remembered for his lifelong commitment to public welfare, agricultural development, and the socio-economic progress of Karnataka.

Acclaimed Tamil Author and Sahitya Akademi Awardee Poomani Passed away at 79

• Renowned Tamil writer and novelist Poomani, whose original name was Pulithurai Manickavasagam, passed away at the age of 79 in Chennai, Tamil Nadu.

About Poomani :

• Poomani was born on 12 May 1947 in Andipatti, Thoothukudi district, Tamil Nadu.
• He adopted the pen name "Poomani" and became widely known for his realistic portrayal of life in the Karisal Bhoomi region of southern Tamil Nadu.
• Poomani was honoured with the prestigious Sahitya Akademi Award in 2014 in the Tamil language category for his acclaimed novel "Agnaadi".
• The novel "Agnaadi" is based on the Kazhugumalai communal conflict (1895) and the Sivakasi communal conflict (1899).
• His literary works primarily depicted rural life, social inequalities, and the lives of marginalized communities in Tamil Nadu.
• His most notable novels include Agnaadi, Vekkai, and Piragu.
• His famous novel "Vekkai" was adapted into the critically acclaimed Tamil film "Asuran" (2019).
• The film Asuran (2019) was directed by Vetrimaaran.
• Apart from writing, Poomani also worked as a film director.
• He directed the film "Karuvelam Pookkal" (1996) for the National Film Development Corporation (NFDC).
• Karuvelam Pookkal highlighted the issue of child labour in the Sivakasi–Kovilpatti match factory region of Tamil Nadu.
• Poomani received several prestigious honours, including the Vishnupuram Award (2011), Gitanjali Literary Prize (2012), Sahitya Akademi Award (2014), and the Tamil Nadu State Film Award – Special Prize (1996).

Daily CA One- Liner: July 16

• India has reiterated its support for Palestine’s application for full membership of the United Nations (UN) and reaffirmed its commitment to the establishment of an independent, sovereign, and peaceful Palestine
• The Government of the National Capital Territory (NCT) of Delhi has renamed its flagship women's welfare scheme Mahila Samriddhi Yojana as the Delhi Lakshmi Yojana
• The Government of India has officially renamed the Central Vista redevelopment area as the Kartavya Bhawan Area (also referred to as the Kartavya Bhawan Complex)
• The Geographical Indications Registry has granted the Geographical Indication (GI) tag to Unjha Cumin (Jeera) and Unjha Fennel (Saunf), recognising them as unique agricultural products originating from Unjha, Mehsana district, Gujarat
• The Directorate General of Foreign Trade (DGFT), Ministry of Commerce and Industry has notified the Tariff Rate Quota (TRQ) allocation procedure under the India–Oman Comprehensive Economic Partnership Agreement
• The Central Government has proposed the establishment of Autonomous Hill Development Councils (AHDCs) in every district of Ladakh to strengthen local self-governance while preserving the region's unique identity
• MRF Limited (Madras Rubber Factory Limited) has been recognised as the Most Valuable Tyre Brand and the Strongest Tyre Brand in India in the Brand Finance India 100 – 2026 Report
• India secured 5 gold medals at the 56th International Physics Olympiad (IPhO) 2026, with all five members of the Indian team winning gold medals.
• According to the United Nations Conference on Trade and Development (UNCTAD) World Investment Report 2026, India became the 11th-largest recipient of Foreign Direct Investment (FDI) in the world in 2025, improving from 13th position in 2024.
• Standard Chartered became the first bank in the world to successfully process a cross-border remittance under SWIFT's new Retail Payments Framework.
• Bank of Maharashtra (BoM), one of India's leading Public Sector Banks (PSBs), launched "FinSpark'26", a national-level cybersecurity hackathon, under the theme "Securing the Future of Banking".
• National Bank for Agriculture and Rural Development (NABARD) launched Gramodyam, an entrepreneurship development programme for rural youth, during its 45th Foundation Day celebrations.
• Prime Minister (PM) Narendra Modi visited New Zealand from 10–11 July 2026 as the final leg of his three-nation tour, which included Indonesia, Australia, and New Zealand.
• Raksha Rajya Mantri Sanjay Seth reviewed the functioning of the Canteen Services Department (CSD) during the 80th meeting of the Board of Control Canteen Services (BOCCS) held in Ranchi, Jharkhand, on 14 July 2026.
• Union Minister Dr. Jitendra Singh launched Phase-III of the Biomedical Research Career Programme (BRCP) with a total outlay of ₹1,500 crore to strengthen India's biomedical research ecosystem.
• The Japan Aerospace Exploration Agency (JAXA) successfully conducted the first lift-off and landing test of its RV-X reusable rocket prototype at the Noshiro Testing Center, Akita Prefecture, Japan.
• The Indian Space Research Organisation (ISRO) successfully conducted three critical tests of the Gaganyaan Crew Module (CM) systems as part of India's Human Spaceflight Programme.
• Veteran Indian National Congress (INC) leader and former Member of Parliament (MP) Hanumanthappa passed away at the age of 94 in Chitradurga, Karnataka.
• Renowned Tamil writer and novelist Poomani, whose original name was Pulithurai Manickavasagam, passed away at the age of 79 in Chennai, Tamil Nadu.