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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Approves Type-II NBFC Licence for Delhivery Financial Services

• Delhivery Financial Services Private Limited, a wholly-owned subsidiary of Delhivery Limited, received Reserve Bank of India (RBI) approval for the grant of a Certificate of Registration (CoR) as a Type-II Non-Banking Financial Company–Non-Deposit Taking (NBFC-ND).
• RBI clarified that the Certificate of Registration (CoR) will be issued subject to the submission of specified documents to the satisfaction of the central bank, as mentioned in the approval letter.
• The approval will enable Delhivery Financial Services to expand its financial services offerings and strengthen its logistics ecosystem.
• The company plans to provide credit facilities, payment solutions, FasTag aggregation, fuel cards, and insurance for truckers, fleet owners, and other logistics stakeholders to reinforce Delhivery’s logistics network.
• Delhivery Financial Services Pvt. Ltd. was incorporated in January 2026 as the financial services arm of Delhivery Limited, dedicated to offering financial products for the logistics sector.

About Non-Banking Financial Company (NBFC) :

• A Non-Banking Financial Company (NBFC) is a financial institution registered under the Companies Act, 1956 or Companies Act, 2013, and is primarily regulated by the Reserve Bank of India (RBI) under the RBI Act, 1934.
• NBFCs provide services such as loans and advances and investments in shares, stocks, bonds, debentures, and government securities, but they cannot accept demand deposits like banks.
• Based on liabilities, NBFCs are classified into NBFC-Deposit Taking (NBFC-D) and NBFC-Non-Deposit Taking (NBFC-ND).
• NBFC-ND is further classified into Type-I NBFC-ND (does not accept public funds and has no customer interface) and Type-II NBFC-ND (accepts public funds and has a customer interface).

About RBI :

• Established: 1 April 1935 under the Reserve Bank of India Act, 1934, and serves as India’s central bank.
• Nationalised: 1 January 1949
• Headquarters: Mumbai, Maharashtra
• Governor: Sanjay Malhotra (26th Governor)
• Deputy Governors: Rohit Jain, Shirish Chandra Murmu, Swaminathan Janakiraman, Poonam Gupta
• Wholly Owned by RBI:
• BRBNMPL – Bharatiya Reserve Bank Note Mudran Private Limited
• DICGC – Deposit Insurance and Credit Guarantee Corporation
• ReBIT – Reserve Bank Information Technology Private Limited
• RBIH – Reserve Bank Innovation Hub
• Promoted by RBI (Now Government-owned):
• NABARD – National Bank for Agriculture and Rural Development
• NHB – National Housing Bank
• The RBI is responsible for monetary policy, currency management, and regulation of the financial system.

National Statistics Office Launches India’s First Monthly Index of Services Production (ISP) to Measure Services Sector Output

• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) launched the 1st trial Sub-sectoral Index of Services Production (ISP), India's first official monthly indicator to measure services sector output.
• The Index of Services Production (ISP) is designed as a high-frequency macroeconomic indicator to capture the short-term performance of the formal services sector, complementing the Index of Industrial Production (IIP).
• The base year for the trial ISP is 2024–25, and the first index has been released for April 2026.
• The trial ISP currently covers 19 sub-sectors, representing nearly 60% of India's formal services sector.
• The ISP measures short-term changes in the volume of output produced by the formal services sector relative to the base year, and should not be equated with Gross Value Added (GVA) used for GDP estimation.
• The Services Sector has contributed more than 50% of India's Gross Value Added (GVA) continuously since 2013–14, making it the largest contributor to India's GDP.
• According to MoSPI, the trial ISP is a major milestone in strengthening India's statistical system and improving the measurement of the country's services sector.
• The overall comprehensive ISP will be introduced after evaluating the stability of the trial series and expanding its sectoral coverage.
• In the April 2026 trial data, 14 out of 19 sub-sectors recorded double-digit year-on-year growth, while almost all remaining sectors also registered positive growth.
• Accommodation & Food Services emerged as the fastest-growing sector, recording 2% growth, followed by Retail Trade with 30.8% growth in April 2026.
• The ISP has been developed entirely using administrative data, including GST records and inputs from government ministries, without imposing any additional compliance burden on industries or businesses.
• The ISP data will be made available through the e-Sankhyiki Portal for public access and analysis.
• Saurabh Garg, Secretary, MoSPI, stated that the launch of ISP marks a significant step towards strengthening India's statistical ecosystem and that stakeholder feedback will be used for further improvement.
• Chief Economic Advisor (CEA) Dr. V. Anantha Nageswaran described the ISP as a trial series, emphasizing that it will continue to evolve and improve through public scrutiny and stakeholder feedback.
• MoSPI plans to expand the ISP by including additional sectors such as Health Services and Ownership of Dwellings, increasing its coverage to around 85–90% of the formal services sector in the future.

Bloomberg Launches Electronic Trading Platform for Indian Government Bonds

• Bloomberg has facilitated the first electronic trade in Indian Government Bonds (IGBs) through its Bloomberg Terminal by integrating it with the Negotiated Dealing System–Order Matching (NDS-OM).
• The new platform enables Foreign Portfolio Investors (FPIs) to electronically execute, monitor, allocate, and settle trades in Indian Government Bonds (IGBs) with domestic and international banks through a single integrated platform.

Key Highlights :

• The Bloomberg Terminal is directly connected to NDS-OM, which is operated by Clearcorp Dealing Systems (India) Ltd., providing an end-to-end electronic workflow for trading Government Securities (G-Secs).
• The first electronic trade on the Bloomberg-NDS-OM platform was successfully executed by State Street Investment Management.
• The integration connects Bloomberg’s global liquidity network with India’s NDS-OM platform, improving market access, operational efficiency, transparency, and liquidity in the Indian Government Bond market.
• The platform reduces manual intervention, minimises operational errors, and allows investors to place, execute, monitor, and allocate trades electronically in real time.
• The initiative comes amid rising foreign participation in India's sovereign debt market following the inclusion of India's Fully Accessible Route (FAR) Bonds in the Bloomberg Emerging Market Local Currency Government Index in 2025.
• The Reserve Bank of India (RBI) introduced the Fully Accessible Route (FAR) to allow unrestricted foreign investment in specified Government Securities (G-Secs).

About Negotiated Dealing System–Order Matching (NDS-OM) :

• NDS-OM (Negotiated Dealing System–Order Matching) is an anonymous, screen-based electronic order-matching platform for secondary market trading in Government Securities (G-Secs).
• Launched: 2005 by the Reserve Bank of India (RBI).
• Operated by: Clearcorp Dealing Systems (India) Ltd., with trade settlement guaranteed by the Clearing Corporation of India Limited (CCIL).
• Tradable Instruments: Central Government Securities (G-Secs), State Development Loans (SDLs), and Treasury Bills (T-Bills).
• The platform also provides a Request for Quote (RFQ) segment, enabling members to negotiate bilateral trades electronically.
• Trade Settlement under NDS-OM follows the T+1 settlement cycle and is guaranteed by CCIL, ensuring secure and efficient settlement.

Types of NDS-OM Members

• Direct Members: Have current accounts with the RBI and can directly settle trades on NDS-OM.
• Indirect Members: Do not have RBI current accounts and settle transactions through Direct Members; most Foreign Institutional Investors (FIIs)/FPIs access the platform through this route.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Launches Campaign for United Nations Security Council (UNSC) Non-Permanent Membership for 2028–29

• India has officially launched its campaign for election as a Non-Permanent Member of the United Nations Security Council (UNSC) for the 2028–2029 term.
• External Affairs Minister Dr. S. Jaishankar launched India's candidature at the United Nations (UN) Headquarters, New York, and unveiled SHANTI as India's guiding vision for the campaign.
• SHANTI stands for Securing Holistic Advancement through Norms, Trust and Integrity, reflecting India's approach to promoting global peace, security, multilateral cooperation, and equitable development.
• During the launch, Dr. S. Jaishankar highlighted that the world is facing growing conflicts and instability, making the role of the United Nations more important than ever.
• India reiterated its commitment to dialogue, diplomacy, peaceful conflict resolution, and representing the interests of the Global South.
• India appealed to United Nations Member States to support its candidature, stating that its presence in the United Nations Security Council would strengthen the Council's effectiveness and decision-making.
• If elected, India will serve as a Non-Permanent Member of the United Nations Security Council for a two-year term from 2028 to 2029.
• India has previously served eight terms as a Non-Permanent Member of the United Nations Security Council, with its most recent tenure being 2021–2022.

About United Nations Security Council (UNSC)

• Organisation: United Nations (UN)
• Established: 1945
• Headquarters: New York, United States

RECENT NEWS

• As US Secretary of State Marco Rubio on his official visit to India he held the talks with the India’s External Affairs Ministers S. Jaishankar just ahead of the QUAD Foreign Ministers meeting. This talks covered the major points such as the emerging technologies, defense cooperation, trade, energy security, migration concerns and regional geopolitical challenges and reflects the expanding depth of cooperation of the India-US Comprehensive Global Strategic Partnership.

Union Cabinet Approves Mobile Phone Manufacturing Scheme (MPMS) with ₹62,500 Crore Outlay

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Mobile Phone Manufacturing Scheme (MPMS) with a total outlay of ₹62,500 crore to strengthen India's mobile phone manufacturing ecosystem.
• The scheme aims to boost domestic manufacturing, increase value addition, strengthen supply chains, promote Indian mobile brands, and position India as a global hub for mobile phone manufacturing under the Make in India initiative.
• MPMS will be implemented for five years, from FY 2026–27 to FY 2030–31, and will provide performance-linked incentives to eligible manufacturers.
• The scheme seeks to enhance mobile phone manufacturing capabilities, promote local production of key components, reduce import dependence, encourage product design and Research & Development (R&D), and build a resilient electronics supply chain.
• Under the scheme, eligible manufacturers will receive performance-linked incentives ranging from 2.25% to 5% on qualified sales of mobile phones manufactured in India, based on category and performance criteria.
• Manufacturers sourcing specified components domestically will be eligible for an additional incentive of up to 1.5%, encouraging localisation and deeper value addition.
• Indian mobile phone brands investing in product design, innovation, and Research & Development (R&D) may receive an additional incentive of up to 3% on eligible sales.
• The scheme builds upon the success of the Production Linked Incentive (PLI) Scheme for Large Scale Electronics Manufacturing, which helped attract global smartphone manufacturers, increase mobile phone exports, integrate India into global electronics supply chains, and generate large-scale employment.
• India is currently the second-largest mobile phone manufacturer in the world, with around 99% of mobile phones sold in the domestic market being manufactured in India.

About Ministry of Electronics and Information Technology:

• Cabinet Minister: Ashwini Vaishnaw
• Constituency: Rajya Sabha, Odisha
• Ministers of State (MoS): Jitin Prasada

RECENT NEWS

• Indian railway system is getting a major digital upgrade. Union Minster of Railways Ashwini Vaishnaw announced the Rail Tech Policy 2026, the Rail Tech Portal, and the e-Railway Claims Tribunal (e-RCT) in New Delhi. These steps are part of Indian Railways ambitious plan of 52 reforms in 52 weeks.

Government Revises Special Additional Excise Duty (SAED) on Petroleum Product Exports

• The Government of India has revised the Special Additional Excise Duty (SAED), commonly known as the windfall tax, on the export of petroleum products with effect from 16 July 2026.
• According to the Ministry of Finance, the revised rates will remain effective for the fortnight beginning 16 July 2026 and will be reviewed in the next fortnightly revision.
• The revised SAED rates are:
• Diesel (Exports): Increased from ₹8.5/litre to ₹15.5/litre
• Aviation Turbine Fuel (ATF) (Exports): Increased from ₹7.5/litre to ₹14.5/litre
• Petrol (Exports): Reduced from ₹4/litre to ₹2.5/litre
• Special Additional Excise Duty (SAED) is imposed on the export of petroleum products when global crude oil prices rise sharply, resulting in extraordinary profits for exporters.
• The objective of the revised duty is to ensure adequate domestic fuel availability, discourage excessive exports during periods of high international oil prices, limit windfall gains, and strengthen India's energy security.
• The revision comes amid geopolitical tensions in West Asia, which have kept global crude oil prices elevated and increased concerns over fuel supply.
• The Government reviews SAED rates every 15 days based on international crude oil prices and prevailing market conditions.
• The export duty on diesel and Aviation Turbine Fuel (ATF) was first introduced on 27 March 2026, while the duty on petrol exports was introduced on 16 May 2026.
• The Government clarified that there is no change in the excise duty on petrol and diesel sold in the domestic market, and the revised levy applies only to exports.
• The revised duty is expected to maintain domestic fuel supply, reduce excessive exports, curb windfall profits, and support balanced energy market conditions.

Kolkata Metro to Introduce Driverless Train Operations on Green and Purple Lines

• Kolkata Metro is set to introduce driverless metro train operations on the Green Line and Purple Line, marking a major milestone in India's urban public transport system.
• The Commissioner of Railway Safety (CRS) has approved driverless operations on the Green Line after successfully completing safety inspections and trials.
• With the launch, Kolkata will become one of the few Indian cities, after Delhi and Bengaluru, to operate Grade of Automation 4 (GoA-4) driverless metro services.
• The first phase of driverless operations will cover the Green Line (Howrah Maidan–Salt Lake Sector V), spanning 16.6 km with 12 stations.
• The Green Line includes India's first underwater metro tunnel beneath the Hooghly River, connecting the western and eastern parts of Kolkata.
• Driverless operations have also been planned for the Purple Line, further expanding Kolkata Metro's automated network.
• The driverless trains use Communication-Based Train Control (CBTC) technology with Grade of Automation 4 (GoA-4), enabling automatic acceleration, braking, speed regulation, station stopping, door operation, and train movement without a driver.
• Although trains operate without drivers, services will be continuously monitored from a Central Operation Control Centre to ensure safe operations.
• Passenger safety features include:
• Platform Screen Doors (PSDs)
• Communication-Based Train Control (CBTC)
• Automatic obstacle detection systems
• Emergency braking systems
• Smart signalling systems
• Continuous real-time monitoring from the Operation Control Centre
• Before granting approval, the Commissioner of Railway Safety (CRS) inspected the entire 16.6 km corridor, conducted emergency braking tests, verified automatic train operations, and assessed the signalling and safety systems.
• Delhi Metro was the first metro system in India to introduce driverless train operations on the Pink Line and Magenta Line, followed by Bengaluru Metro on the Yellow Line.

About Kolkata Metro

• Established: 1984 (India's first metro railway)
• Headquarters: Kolkata
• First Metro in India: Kolkata Metro became India's first metro rail system on 24 October 1984.

About West Bengal:

• Chief Minister: Suvendu Adhikari
• Governor: N. Ravi
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Gorumara National Park, Singalila National Park, Neora Valley National Park, Buxa National Park
• Wildlife Sanctuaries: Senchal Wildlife Sanctuary, Buxa Wildlife Sanctuary, Raiganj Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Chintamani Kar Bird Sanctuary, Lothian Island Wildlife Sanctuary, West Sundarban Wildlife Sanctuary

Ministry of Heavy Industries Invites Global Bids for Advanced Chemistry Cell (ACC) Battery Manufacturing Under PLI Scheme

• The Ministry of Heavy Industries (MHI) has invited global bids to establish 10 GWh of Advanced Chemistry Cell (ACC) battery manufacturing capacity under the Production Linked Incentive (PLI) Scheme for ACC Batteries.
• The bidding marks the final phase of the ₹18,100 crore PLI Scheme, aimed at creating a robust domestic ACC battery manufacturing ecosystem and reducing India's dependence on imported batteries.
• Both domestic and global manufacturers are eligible to participate in the bidding process.
• The Production Linked Incentive (PLI) Scheme for ACC Batteries was approved by the Union Cabinet in 2021 with:
• Financial Outlay: ₹18,100 crore
• Target Manufacturing Capacity: 50 GWh
• Capacity Already Allocated: 40 GWh
• Current Bidding Capacity: 10 GWh
• The scheme aims to promote domestic manufacturing of Advanced Chemistry Cell (ACC) batteries, strengthen the battery value chain, support clean energy adoption, and enhance India's energy security.
• Advanced Chemistry Cell (ACC) batteries are high-performance rechargeable batteries offering higher energy density, faster charging, longer life, and improved safety compared to conventional batteries.
• ACC batteries are widely used in Electric Vehicles (EVs), renewable energy storage systems, grid-scale energy storage, consumer electronics, and industrial applications.
• The batteries will play a crucial role in grid-scale energy storage by storing electricity generated from renewable sources such as solar and wind energy, ensuring a stable and reliable power supply.
• The initiative is expected to strengthen renewable energy integration, improve grid stability, promote e-mobility, and support India's transition towards a clean energy economy.

About Ministry of Heavy Industries:

• Cabinet Minister: H. D. Kumaraswamy
• Constituency: Mandya, Karnataka
• Ministers of State (MoS): Bhupathi Raju Srinivasa Varma

Cabinet Approves National Investment Policy for Urea-2026 (NIPU-2026)

• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the National Investment Policy for Urea-2026 (NIPU-2026) to promote self-reliance in urea production under  the Atmanirbhar Bharat initiative.
• NIPU-2026 has been introduced by the Department of Fertilizers to encourage investment in new gas-based urea manufacturing plants across the country.
• The policy replaces the New Investment Policy (NIP)-2012, whose investment window closed in October 2019.
• The policy aims to increase domestic urea production, reduce dependence on imports, attract public and private investment, improve transparency in project economics, and strengthen India's fertilizer security.
• The policy focuses on establishing energy-efficient and environment-friendly gas-based urea plants using modern technologies.
• A key feature of NIPU-2026 is the separation of fixed and variable costs, ensuring greater transparency, fair cost estimation, and better financial planning for investors.
• The policy introduces a Return on Equity (RoE) mechanism with:
• Minimum (Floor): 12%
• Maximum (Ceiling): 16%
• To reduce exchange rate risk, the policy provides for the conversion of fixed costs into Indian Rupees after four years, based on the prevailing exchange rate.
• The Government estimates that each new urea plant established under NIPU-2026 will generate savings of over ₹250 crore compared to projects set up under NIP-2012.
• The policy is expected to enhance domestic urea production, reduce fertilizer imports, improve investor confidence, and contribute to India's long-term fertilizer self-sufficiency.
• Under NIP-2012, the Government facilitated the establishment of six new urea manufacturing plants, including:
• Four plants through Public Sector Joint Ventures
• Two plants by private sector companies

About Ministry of Chemicals and Fertilizers:

• Cabinet Minister: J. P. Nadda
• Constituency: Gujarat (Rajya Sabha)
• Ministers of State (MoS): Anupriya Patel

India and European Union Hold Third Trade and Technology Council (TTC) Meeting in Brussels

• India and the European Union (EU) held the 3rd India–European Union Trade and Technology Council (TTC) Meeting in Brussels, Belgium, to deepen cooperation in trade, technology, innovation, and resilient supply chains.
• During the meeting, both sides discussed expanding collaboration in Artificial Intelligence (AI), semiconductors, electric vehicles (EVs), renewable energy technologies, digital technologies, high-performance computing, and secure digital infrastructure.
• The meeting also focused on building trusted and resilient supply chains, enhancing bilateral trade and investment, and promoting economic resilience amid global trade and technology disruptions.
• External Affairs Minister Dr. S. Jaishankar emphasized that trusted partnerships have become increasingly important due to global supply chain disruptions and challenges in accessing advanced technologies.
• India and the European Union agreed to strengthen cooperation in emerging technologies, digital transformation, and innovation to support a secure, sustainable, and modern global economy.
• Under clean energy and electric mobility, discussions covered cooperation in electric vehicles (EVs), battery technology, renewable energy, green hydrogen, energy efficiency, and sustainable mobility.
• The meeting reaffirmed the commitment of both partners to strengthen economic ties, promote technology leadership, support climate action, and diversify global supply chains.
• The partnership will also encourage collaboration among governments, industries, startups, and research institutions to accelerate technological innovation and sustainable growth.

Union Cabinet Approves Semicon 2.0 with ₹1.275 Lakh Crore Outlay

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved Semicon 2.0, India's next-generation semiconductor policy, with a total outlay of ₹1,27,500 crore.
• Semicon 2.0 aims to strengthen India's semiconductor design, manufacturing, packaging, research, innovation, and talent development ecosystem, while building a resilient semiconductor supply chain and promoting technological self-reliance.
• The programme builds upon Semicon 1.0 and seeks to establish a comprehensive semiconductor ecosystem, covering chip design, fabrication, packaging, materials, equipment, research, and skilled workforce development.
• The initiative aims to attract global semiconductor manufacturers, enhance the capabilities of Indian chip design companies, promote domestic semiconductor production, reduce dependence on imports, and position India as a trusted global semiconductor hub.
• Semiconductors are critical for industries such as mobile devices, Artificial Intelligence (AI), electric vehicles, telecommunications, defence, medical devices, industrial electronics, and automation.
• Semicon 2.0 is built around six strategic pillars:
• Strengthening semiconductor design
• Developing semiconductor equipment, materials, and chemicals
• Establishing additional semiconductor fabrication (Fab) facilities
• Strengthening the Assembly, Testing, Marking and Packaging (ATMP) and Outsourced Semiconductor Assembly and Test (OSAT) ecosystem
• Accelerating research and development (R&D)
• Talent development and skill enhancement
• The initiative is expected to strengthen India's semiconductor ecosystem, boost economic growth, enhance national security, and establish India as a global leader in semiconductor technology.
• Under Semicon 1.0, the Government approved 12 semiconductor manufacturing projects with a proposed investment of ₹1.64 lakh crore.
• The approved projects under Semicon 1.0 include:
• Two semiconductor fabrication facilities, including a silicon wafer fabrication plant and a silicon carbide wafer manufacturing plant.
• One integrated Micro-LED display manufacturing facility.
• Nine semiconductor Assembly, Testing, Marking and Packaging (ATMP)/Outsourced Semiconductor Assembly and Test (OSAT) units.
• These facilities will support semiconductor production for sectors such as automotive, consumer electronics, telecommunications, industrial electronics, aerospace, defence, and power electronics.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations Issues First Global Scientific Artificial Intelligence Assessment, Calls for Stronger AI Governance

• The United Nations (UN) released the Preliminary Report of the Independent International Scientific Panel on Artificial Intelligence (AI), the first UN-commissioned scientific assessment of Artificial Intelligence (AI).
• The report warns that AI development is advancing faster than global governance and urges governments to strengthen AI regulatory frameworks and international cooperation.
• The report was prepared by a 40-member Independent International Scientific Panel on AI, comprising scientists and experts from all five UN regions.
• The panel is co-chaired by Yoshua Bengio (Turing Award laureate) and Maria Ressa (Nobel Peace Prize laureate).
• The objective of the report is to provide an independent scientific assessment of AI opportunities, risks, and governance to support evidence-based policymaking
• The report evaluates the impact of Artificial Intelligence (AI) across science, healthcare, education, agriculture, economy, security, environment, human rights, democracy, governance, and AI reliability.
• A key concern highlighted is that frontier AI development is progressing faster than global governance, leading to fragmented safeguards and the concentration of AI capabilities among a few countries and companies.
• The report highlights the global AI imbalance, with the United States of America (USA) accounting for 75% of global compute capacity and 59 AI models, followed by China with 15% compute capacity and 35 AI models, while the Rest of the World accounts for only 10% compute capacity and 13 AI models.

About United Nations (UN) :

• Established : 1945
• Headquarters : New York City, the United States of America (USA)
• Secretary-General : António Guterres

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Dr. Srinivasa Kumar Tummala Takes Charge as Secretary of the Ministry of Earth Sciences

• Government of India (GoI) appointed Srinivasa Kumar Tummala as the new Secretary, Ministry of Earth Sciences (MoES).
• The appointment was approved by the Appointments Committee of the Cabinet (ACC) for a tenure of 2 years from the date of assuming office or until further orders, whichever is earlier.
• Before this appointment, Srinivasa Kumar Tummala served as the Head of the Indian Ocean Tsunami Warning and Mitigation System (IOTWMS) Secretariat under the UNESCO Intergovernmental Oceanographic Commission (UNESCO-IOC) in Perth, Australia.

About Dr. Srinivasa Kumar Tummala :

• Tummala is an internationally renowned oceanographer, scientific leader, and techno-manager with over 30 years of experience in remote sensing, satellite oceanography, coastal hazard mitigation, disaster management, and Indian Ocean research.
• His appointment comes at a time when India is expanding the Deep Ocean Mission, enhancing climate modelling, strengthening early warning systems, and promoting the Blue Economy.
• As Head of IOTWMS Secretariat, he led regional tsunami warning networks across 28 Indian Ocean Member States and promoted the Tsunami Ready Community Recognition Programme.
• Tummala served as Director of the Indian National Centre for Ocean Information Services (INCOIS), Hyderabad, from August 2020, where he strengthened Potential Fishing Zone (PFZ) advisories, Coral Reef Bleaching Alert Systems, and Multi-Hazard Vulnerability Mapping.
• Following the 2004 Indian Ocean Tsunami, Dr. Tummala played a key role as Project Manager in establishing India's Tsunami Early Warning System at INCOIS.
• Under his leadership, India's Tsunami Early Warning Centre became a globally recognised Tsunami Service Provider (TSP).
• Srinivasa Kumar Tummala received the National Geoscience Award (2010) from the Ministry of Mines for his contribution to establishing India's world-class tsunami early warning infrastructure.
• He was also honoured with the Indian National Geospatial Award (2008) by the Indian Society of Remote Sensing (ISRS) for his contributions to geospatial technology, disaster mitigation, and marine resource mapping.
• Tummala has published more than 100 peer-reviewed scientific papers in leading international journals, contributing significantly to oceanography and earth sciences.
• He has also served as Vice-Chair of the UNESCO Intergovernmental Oceanographic Commission, highlighting India's growing leadership in global ocean science.

Ukraine’s Parliament Confirms Serhii Koretskyi as New Prime Minister

• Ukraine's Parliament (Verkhovna Rada) approved the appointment of Sergii Koretskyi as the Prime Minister (PM) of Ukraine, succeeding Yulia Svyrydenko.
• Sergii Koretskyi was serving as the Chief Executive Officer (CEO) of Naftogaz of Ukraine, the country's state-owned energy company, before becoming Prime Minister.
• He secured 289 votes in the 450-member Verkhovna Rada, obtaining parliamentary approval for his appointment as Prime Minister.
• Ukrainian President Volodymyr Zelenskyy nominated Sergii Koretskyi as part of a Cabinet reshuffle aimed at strengthening governance during the ongoing Russia–Ukraine war.
• Sergii Koretskyi was selected for his leadership in the energy sector, with a focus on improving winter preparedness, energy security, and critical infrastructure resilience.
• Despite having no prior political experience or party affiliation, Sergii Koretskyi assumes his first government position as Prime Minister of Ukraine.

About Ukraine :

• President : Volodymyr Zelenskyy
• Capital : Kyiv
• Currency : Ukrainian hryvnia

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy to Commission INS Malvan, the Latest Indigenous ASW Shallow Water Craft

• The Indian Navy will commission INS Malvan on 22 July 2026, the second Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC).
• The commissioning ceremony will be presided over by Air Chief Marshal A.P. Singh, Chief of the Air Staff, in the presence of Vice Admiral Sanjay Vatsayan, Flag Officer Commanding-in-Chief (FOC-in-C), Western Naval Command.
• INS Malvan has been built by Cochin Shipyard Limited (CSL), Kochi, showcasing India's growing capability in indigenous naval shipbuilding.
• The warship has over 80% indigenous content, reflecting the success of the Aatmanirbhar Bharat initiative in the defence sector.
• INS Malvan represents India's advancement in warship design, construction, and systems integration, strengthening the country's self-reliance in naval defence.
• The Mahe-class ASW-SWC is specially designed for Anti-Submarine Warfare (ASW) operations in shallow waters, enhancing the Indian Navy's coastal defence capabilities.
• The vessel is designed to provide high agility, precision, and endurance, making it highly effective for shallow-water maritime operations.
• The commissioning of INS Malvan marks the continued induction of a new generation of indigenous shallow-water combat vessels into the Indian Navy.
• The event highlights India's commitment to strengthening maritime security, coastal defence, and indigenous defence manufacturing under the Aatmanirbhar Bharat vision.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Scientists Develop Ultrafast Organic Anode Material for Next-Generation Rechargeable Batteries

• Researchers from the Indian Association for the Cultivation of Science (IACS) and N. Bose National Centre for Basic Sciences (SNBNCBS), both under the Department of Science and Technology (DST), developed a new porous organic anode material for high-performance lithium-ion batteries.
• The newly developed material is a Covalent Organic Framework (COF), a porous organic material designed to improve energy storage capacity, fast charging, and battery durability.
• The research team was led by Urmimala Maitra (IACS) and Dr. Pradip Pachfule (SNBNCBS).
• The COF-based anode material enables lithium ions to move more efficiently, resulting in faster charging, improved ion transport, enhanced charge storage, and greater structural stability.
• Using the new COF material, the lithium-ion battery achieved 80% charging in just over one minute while maintaining excellent performance over repeated charging and discharging cycles.
• The material also demonstrated the ability to store sodium ions, creating opportunities for the development of low-cost sodium-ion batteries in the future.
• The successful performance of the material in a practical battery device confirms its potential for real-world commercial applications.
• The breakthrough supports the development of safer, faster-charging, longer-lasting, and cost-effective rechargeable batteries for electric vehicles (EVs), smartphones, laptops, and renewable energy storage.
• The study demonstrates that rational molecular design of Covalent Organic Frameworks (COFs) can simultaneously optimize ion transport, charge storage, and structural stability for advanced battery technologies.

Kerala-Based HEX20 Successfully Launches Its Second Satellite ‘KOYO’ on SpaceX Transporter-17 Mission

• Kerala-based private spacetech startup HEX20 successfully launched its second satellite, KOYO (Kinetic Optical Yaw Observer) aboard SpaceX's Transporter-17 mission from Vandenberg Space Force Base, California, USA.
• KOYO successfully entered Earth orbit as a multi-payload technology demonstration platform, carrying 81 payloads for in-orbit technology validation and commissioning of international payloads.
• The primary objective of the KOYO Mission is to qualify and validate space hardware before operational deployment through real-time in-orbit testing.
• The satellite carries payloads from several international partners, including Aegiverse (Taiwan), Amplified Space (USA), National Central University (Taiwan), and ET Space Power.
• The mission successfully validated several indigenously developed HEX20 technologies, including a new solar panel deployment mechanism, deployable monopole antenna, advanced hinge system, and the AX CubeSat platform.
• KOYO is designed to operate for 18–24 months, during which it will continue technology validation, payload testing, and space system performance evaluation.
• During the commissioning phase, the satellite successfully decoded over 1,500 beacon packets and executed more than 75 ground commands, confirming its stable orbital performance.
• KOYO builds upon the success of NILA (2025), which was India's first private-sector rideshare satellite and Kerala's first privately built satellite.
• HEX20 has announced six upcoming space missions: NILA III, SAISI, COSPAR-1, MAYA-V1, DINK-N1, and the Emirates Asteroid Mission (EMA) Impactor Probe, reflecting its expanding presence in the global commercial space sector.

CSIR-Central Road Research Institute Launches Platinum Jubilee Celebrations with Nationwide Rollout of Indigenous Road Technologies

• CSIR–Central Road Research Institute (CSIR-CRRI) commenced its Platinum Jubilee Celebrations from 16 July 2026 to 16 July 2027, marking 75 years of scientific excellence in road infrastructure research.

Key Highlights :

• As part of the celebrations, CSIR-CRRI launched the first phase of nationwide implementation of its advanced indigenous road infrastructure technologies across 16 towns/locations in India.
• The initiative aims to demonstrate, commercialise, and scale up innovative road construction and maintenance technologies through collaboration with industry and implementing agencies.
• The celebrations were inaugurated by Jitendra Singh, Union Minister of State (Independent Charge) for Science & Technology and Earth Sciences.
• During the event, Dr. Jitendra Singh reviewed indigenous innovations in road engineering, pavement technologies, Intelligent Transportation Systems (ITS), road safety, and sustainable construction materials.
• The Minister launched the Automatic Modified Mix Seal Surfacing (MSS+) Smart Mix Pro Mixing Plant, designed for the large-scale implementation of the indigenous Modified Mix Seal Surfacing (MSS+) road technology.
• He also inaugurated the AI-enabled Network Survey Vehicle (NSV) for comprehensive road infrastructure assessment and dedicated the PATCH-FILL technology for rapid pothole repair, promoting smarter, safer, and environmentally sustainable roads.
• LUMETRA, an indigenous glare measurement technology, was licensed to Accurate Optics, Haryana, for commercial deployment.
• Technology Transfer Agreements (TTAs) for MSS+ Smart Mix Pro were signed with JMVD Industries Private Limited (Uttar Pradesh) and Ashok Road Equipment Manufacturers (India) Private Limited (Telangana).
• Bio-Binder, an indigenous technology for producing bio-bitumen from lignocellulosic biomass, was transferred to GWC Asphalt (Assam) and Goyat Biorefinery LLP (Haryana).
• PAVE-SEAL, an air-cleaning nano-photocatalytic pavement sealing technology, was transferred to Bitumix India LLP, Assam, promoting cleaner and sustainable road infrastructure.
• CSIR-CRRI signed a Memorandum of Understanding (MoU) with CMSPL and NICMAR, and Memoranda of Agreement (MoA) with HanuAI, TechFAB, and Terra Climate to strengthen technology development, commercialisation, and deployment.
• Jitendra Singh unveiled the CSIR-CRRI Platinum Jubilee Logo, released the Platinum Jubilee Planner (July 2026–July 2027) and the CSIR-CRRI Annual Report 2025–26.
• The Minister also felicitated recipients of the Asia Book of Records, recognising CSIR-CRRI's contributions to research, innovation, and technology development.
• The Platinum Jubilee Celebrations reaffirmed CSIR-CRRI's commitment to promoting safe, sustainable, climate-resilient, and technology-driven transportation infrastructure, supporting the vision of Viksit Bharat 2047.

Tata Consultancy Services Signs Expanded Artificial Intelligence-Driven Global Network Operations Deal with ABB

• Tata Consultancy Services (TCS) signed a multi-million, multi-year agreement with ABB to transform ABB’s global network operations using Artificial Intelligence (AI).
• The agreement marks the next phase of the 20-year partnership between TCS and ABB, expanding TCS’s role to deliver end-to-end AI-driven global network operations.
• The main objective is to transform ABB’s global network into a standardised, centrally managed, AI-driven digital infrastructure through an integrated Network-as-a-Service (NaaS)
• Under the agreement, TCS will manage end-to-end global network operations using Service Integration and Management (SIAM), a Global Network Operations Centre (GNOC), advanced cybersecurity, and modernised Local Area Network (LAN), Wide Area Network (WAN), and Software-Defined Wide Area Network (SD-WAN)
• The AI-powered network transformation will improve user experience, operational efficiency, security, regulatory compliance, scalability, and real-time AI-based network monitoring.

About ABB :

• ABB is a Swedish-Swiss technology company specialising in electrification and automation, formed in 1988 through the merger of ASEA (Sweden) and Brown, Boveri & Cie (BBC) (Switzerland).
• Headquarters: Zurich, Switzerland.

Ministry of Food Processing Industries & National Institute of Food Technology Entrepreneurship and Management -Thanjavur Launch Pilot Baking Skill Training Programme at ITC-Trichy

• The Ministry of Food Processing Industries (MoFPI), in collaboration with the National Institute of Food Technology Entrepreneurship and Management (NIFTEM), Thanjavur, launched a pilot Short-Term Skill Training Programme (STSTP) on the Assistant Baking Technician (NSQF Level 3) Certificate Programme at the ITC – Integrated Consumer Goods Manufacturing and Logistics (ITC-ICML) facility in Trichy, Tamil Nadu.
• The programme was inaugurated by V. Palanimuthu, Director, NIFTEM-Thanjavur, in the presence of Surjeet Singh Roria, General Manager (GM) & Head, ITC-ICML, and Padmanabhan T., Senior HR Manager, ITC-ICML.
• The objective of the STSTP is to upskill youth in food processing, manufacturing, and allied sectors, thereby enhancing employability and promoting entrepreneurship in the food processing industry.
• The programme offers nationally recognised certifications aligned with the National Skills Qualifications Framework (NSQF), ensuring industry-relevant skill development.
• The first batch comprises 18 trainees, who will undergo Industry-Integrated Training (IIT) with practical on-site training at ITC-ICML from 7 July to 20 August 2026.
• All 18 trainees are assured employment at ITC Limited upon successful completion of the training programme.
• NIFTEM-Thanjavur is an NCVET (National Council for Vocational Education and Training)-recognised Deemed Awarding Body, delivering NSQF-aligned skill development programmes under the Ministry of Food Processing Industries (MoFPI).

CURRENT AFFAIRS : ENVIRONMENT

Ashoka Trust for Research in Ecology and the Environment Scientists Discover Two New Species of Rare Solitary Bees in Arunachal Pradesh’s Siang Valley

• Researchers from the Ashoka Trust for Research in Ecology and the Environment (ATREE), Bengaluru (Karnataka) discovered two new species of rare solitary bees during the Siang Expedition in the Siang Valley, Arunachal Pradesh (AR).
• The newly discovered bee species are Elaphropoda triangulata and Habropoda adi, and the findings were published in the European Journal of Taxonomy.
• The discovery highlights the rich biodiversity and ecological importance of the Eastern Himalayas, one of the world's biodiversity hotspots.
• Elaphropoda triangulata was named after its distinctive triangular abdominal markings, while Habropoda adi was named in honour of the indigenous Adi community of Arunachal Pradesh.
• Both newly discovered species are solitary ground-nesting bees, which build individual nests instead of living in colonies like honeybees.
• These solitary bees play a vital role in pollinating wild plants and agricultural crops, making them important for ecosystem balance and food security.
• At present, both species are known only from a single male specimen each, indicating their rarity and the need for further scientific exploration.
• Globally, only 13 species of Elaphropoda and 55 species of Habropoda have been identified, making these discoveries scientifically significant.
• The discovery emphasises the need for extensive biodiversity surveys, habitat protection, and stronger conservation measures in the Eastern Himalayan forests.
• Protecting these rare bee species is essential to prevent habitat loss, human-induced disturbances, and to conserve the unique biodiversity of the Eastern Himalayas.

CURRENT AFFAIRS : APPS & PORTALS

Union Minister Arjun Ram Meghwal Launches e-VSP Portal to Expand Digital Access to Hindi Legal Literature

• Union Minister Arjun Ram Meghwal launched the e-VSP (Vidhi Sahitya Prakashan) Portal, developed by the Legislative Department, to provide digital access to Hindi legal literature.
• The e-VSP Portal offers Supreme Court and High Court judgments, legal journals, reference books, Acts, legal publications, and other Hindi legal resources on a single digital platform.
• The portal aims to make legal knowledge easily accessible to lawyers, judges, law students, teachers, researchers, and citizens worldwide, thereby promoting inclusive access to justice.
• The e-VSP Portal has been jointly developed by the Legislative Department, Official Languages Wing, Vidhi Sahitya Prakashan (VSP), and the National Informatics Centre (NIC).
• The initiative strengthens digital governance by making legal publications easier to search, access, understand, and use, while enhancing legal awareness across the country.

CURRENT AFFAIRS: IMPORTANT DAYS

Nelson Mandela International Day 2026 Observed on 18 July

• Nelson Mandela International Day 2026 was observed globally on 18 July 2026 to honour the life, legacy, and humanitarian contributions of Nelson Rolihlahla Mandela, the former President of South Africa.
• The day, also known as Mandela Day, encourages people across the world to serve their communities and promote peace, equality, justice, and human dignity.
• The observance is based on Nelson Mandela's 2009 appeal to honour his birthday through community service rather than celebrations, encouraging individuals to participate in long-term and sustainable social initiatives.
• The United Nations (UN) and the Nelson Mandela Foundation encourage people to dedicate 67 minutes of voluntary service, representing Mandela's 67 years of public service.
• Nelson Mandela (18 July 1918 – 5 December 2013) was a South African anti-apartheid leader and served as the President of South Africa from 1994 to 1999.
• He became South Africa's first Black President, elected through the country's first fully representative democratic election in 1994.
• As President, Nelson Mandela worked to promote racial reconciliation, national unity, and dismantle the legacy of apartheid.
• He served as the President of the African National Congress (ANC) from 1991 to 1997 and was internationally recognised as a champion of human rights, democracy, peace, and social justice.
• During the anti-apartheid struggle, Nelson Mandela was imprisoned for 27 years after being arrested in 1963 and became widely known by his prisoner number 46664.
• He was released from prison in 1990, paving the way for South Africa's democratic transition.
• The first Nelson Mandela International Day was observed on 18 July 2009 in New York.

Daily CA One- Liner: July 18

• India has officially launched its campaign for election as a Non-Permanent Member of the United Nations Security Council (UNSC) for the 2028–2029 term
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Mobile Phone Manufacturing Scheme (MPMS) with a total outlay of ₹62,500 crore to strengthen India's mobile phone manufacturing ecosystem
• The Government of India has revised the Special Additional Excise Duty (SAED), commonly known as the windfall tax, on the export of petroleum products with effect from 16 July 2026
• Kolkata Metro is set to introduce driverless metro train operations on the Green Line and Purple Line, marking a major milestone in India's urban public transport system
• The Ministry of Heavy Industries (MHI) has invited global bids to establish 10 GWh of Advanced Chemistry Cell (ACC) battery manufacturing capacity under the Production Linked Incentive (PLI) Scheme for ACC Batteries
• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the National Investment Policy for Urea-2026 (NIPU-2026) to promote self-reliance in urea production under the Atmanirbhar Bharat initiative
• India and the European Union (EU) held the 3rd India–European Union Trade and Technology Council (TTC) Meeting in Brussels, Belgium, to deepen cooperation in trade, technology, innovation, and resilient supply chains
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved Semicon 2.0, India's next-generation semiconductor policy, with a total outlay of ₹1,27,500 crore
• Nelson Mandela International Day 2026 was observed globally on 18 July 2026 to honour the life, legacy, and humanitarian contributions of Nelson Rolihlahla Mandela, the former President of South Africa.
• Delhivery Financial Services Private Limited, a wholly-owned subsidiary of Delhivery Limited, received Reserve Bank of India (RBI) approval for the grant of a Certificate of Registration (CoR) as a Type-II Non-Banking Financial Company–Non-Deposit Taking (NBFC-ND).
• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) launched the 1st trial Sub-sectoral Index of Services Production (ISP), India's first official monthly indicator to measure services sector output.
• Bloomberg has facilitated the first electronic trade in Indian Government Bonds (IGBs) through its Bloomberg Terminal by integrating it with the Negotiated Dealing System–Order Matching (NDS-OM).
• The United Nations (UN) released the Preliminary Report of the Independent International Scientific Panel on Artificial Intelligence (AI), the first UN-commissioned scientific assessment of Artificial Intelligence (AI).
• Government of India (GoI) appointed Srinivasa Kumar Tummala as the new Secretary, Ministry of Earth Sciences (MoES).
• Ukraine's Parliament (Verkhovna Rada) approved the appointment of Sergii Koretskyi as the Prime Minister (PM) of Ukraine, succeeding Yulia Svyrydenko.
• The Indian Navy will commission INS Malvan on 22 July 2026, the second Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC).
• Researchers from the Indian Association for the Cultivation of Science (IACS) and N. Bose National Centre for Basic Sciences (SNBNCBS), both under the Department of Science and Technology (DST), developed a new porous organic anode material for high-performance lithium-ion batteries.
• Kerala-based private spacetech startup HEX20 successfully launched its second satellite, KOYO (Kinetic Optical Yaw Observer) aboard SpaceX's Transporter-17 mission from Vandenberg Space Force Base, California, USA.
• CSIR–Central Road Research Institute (CSIR-CRRI) commenced its Platinum Jubilee Celebrations from 16 July 2026 to 16 July 2027, marking 75 years of scientific excellence in road infrastructure research.
• Tata Consultancy Services (TCS) signed a multi-million, multi-year agreement with ABB to transform ABB’s global network operations using Artificial Intelligence (AI).
• The Ministry of Food Processing Industries (MoFPI), in collaboration with the National Institute of Food Technology Entrepreneurship and Management (NIFTEM), Thanjavur, launched a pilot Short-Term Skill Training Programme (STSTP) on the Assistant Baking Technician (NSQF Level 3) Certificate Programme at the ITC – Integrated Consumer Goods Manufacturing and Logistics (ITC-ICML) facility in Trichy, Tamil Nadu.
• Researchers from the Ashoka Trust for Research in Ecology and the Environment (ATREE), Bengaluru (Karnataka) discovered two new species of rare solitary bees during the Siang Expedition in the Siang Valley, Arunachal Pradesh (AR).
• Union Minister Arjun Ram Meghwal launched the e-VSP (Vidhi Sahitya Prakashan) Portal, developed by the Legislative Department, to provide digital access to Hindi legal literature.