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Daily Current Affairs PDF of 18th June 2025

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CURRENT AFFAIRS : BANKING & FINANCE

International Finance Corporation Invests $60 Million in Motilal Oswal Alternates Fund to Support Mid-Market Business Growth

• International Finance Corporation (IFC), a member of the World Bank Group, signed an agreement to invest $60 million (about Rs 510 crore) in Motilal Oswal Alternates.
• The investment aims to help mid-market companies in India expand and create jobs in sectors like consumer, financial services, life sciences, and manufacturing.

Key Highlights :

• IFC is investing $60 million equity in the India Business Excellence Fund V G, managed by Motilal Oswal Alternates, the private investment arm of Motilal Oswal Financial Services Ltd.
• Along with this, IFC has an additional $60 million co-investment envelope to selectively invest alongside the fund in future deals.
• The fund targets a size of $750 million, with an additional greenshoe option of $150 million.
• It plans to support 12-16 high-growth mid-market companies, especially those expanding beyond major cities to low-income states.
• IFC invests in private equity funds to help entrepreneurs in emerging markets access growth capital, create jobs, drive innovation, and boost market competitiveness.
• IFC’s goal is to leverage private capital to promote inclusive and sustainable growth and help India transition to a higher middle-income country.
• This is IFC’s third fund engagement with Motilal Oswal, having previously invested $25 million in Fund II and $35 million in Fund IV.
• The fund will encourage other local managers to raise funds focusing on underserved regions, attracting more commercial institutional investors.
• Private equity helps fill the funding gap by providing capital and management expertise, enabling companies to expand, create jobs, and strengthen financial sustainability.
• PE-funded companies typically grow faster, generate more employment, and pay more taxes compared to non-PE-funded companies.
• MD & CEO of Motilal Oswal Alternates :Vishal Tulsyan

Recent News :

• In June 2025, AU Small Finance Bank (AU SFB) partnered with the International Finance Corporation (IFC) to incorporate climate risk considerations into its core banking framework.

About IFC :

• Formation : July 20, 1956
• Headquarters :Washington, D.C., United States
• Managing Director :Makhtar Diop
• Membership : 186 countries

Reserve Bank of India Issues Draft Guidelines to Ease Reporting Norms for Rupee Interest Rate Derivatives

• The Reserve Bank of India (RBI) has released draft directions aimed at relaxing reporting requirements for rupee interest rate derivatives to reduce compliance burden.
• To enhance transparency, RBI proposes to introduce global standards for reporting interest rate derivatives

What are interest rate derivatives?

• Interest rate derivatives are financial instruments whose value is based on rupee interest rates, prices of rupee interest rate instruments, or interest rate indices.
• These derivatives help participants to:Hedge interest rate risks by locking in predetermined rates, Speculate on possible movements in interest rates.
• The regulations allow various products including:Interest rate futures, Forward rate agreements (FRAs), Collar and reverse interest rate collar, Existing instruments like interest rate swaps
• The reporting requirements have been rationalised to lessen the compliance burden.
• Reporting timelines:Transactions with non-residentsnot settled in rupees must be reported to the Trade Repository of Clearing Corporation of Indiawithin 30 minutes of the transaction.
• Transactions in foreign currency must be reported before 12:00 PM of the following business day.
• Current guidelines mandate that all such transactions be reported within 30 minutes, including an indication of their purpose.

State Bank of India Cuts Interest Rates by Up to 50 Basis Points After RBI’s Rate Reduction

• State Bank of India (SBI), the country’s largest lender, has reduced lending rates by 50 basis points (bps) after the Reserve Bank of India’s (RBI) policy rate cut.
• The Repo Linked Lending Rate (RLLR) of SBI is now 7.75%, down by 50 bps.
• The External Benchmark Based Lending Rate (EBLR) has been cut from 8.65% to 8.15%, a reduction of 50 bps.
• The new rates are effective from June 15, 2025.
• The rate cuts follow the RBI’s jumbo rate cut on June 6, 2025, where the repo rate was reduced by 50 bps to 5.5% to support economic growth, which hit a four-year low of 6.5% in FY25.

Key Highlights :

• The RBI Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, voted 5:1 in favor of the rate cut.
• RBI also cut the Cash Reserve Ratio (CRR) by 100 bps to 3%, injecting Rs 2.5 lakh crore into the banking system liquidity by December 2025.
• Following the RBI move, most banks have reduced lending rates, with others expected to follow.
• SBI has also reduced fixed deposit (FD) rates by 25 bps across all maturities up to Rs 3 crore, effective June 15, 2025.
• Revised fixed deposit interest rates:
• 1-2 years: reduced to 6.50%
• 2 to less than 3 years: reduced to 6.45%
• 3-5 years: reduced to 6.30%
• 5-10 years: reduced to 6.05%
• The interest rate on ‘444 days’ Amrit Vrishti scheme reduced from 6.85% to 6.60%.
• Senior citizens receive an additional 50 bps, while super senior citizens get an additional 60 bps over the card rate.

Recent News :

• In June 2025, State Bank of India (SBI),  cut interest rateson retail domestic term deposits by 20 basis points (bps)across all tenors, effective 16 May 2025.

About SBI :

• Founded : 1 July 1955
• Headquarters : Mumbai, Maharashtra, India
• Chairman : Challa Sreenivasulu Setty

CURRENT AFFAIRS : NATIONAL NEWS

Telecom Regulatory Authority of India Sets Tariff Cap for Public Data Offices under PM-WANI Scheme to Ensure Affordable Public Wi-Fi

• The Telecom Regulatory Authority of India (TRAI) has prescribed a cap on tariffs charged to Public Data Offices (PDOs) under the PM-WANI scheme to keep public Wi-Fi affordable.
• The PM-WANI framework was launched in December 2020 to accelerate the proliferation of internet services by setting up public WiFi hotspots aimed at building Digital India and driving economic benefits.

Key Highlights :

• TRAI mandated that every service provider offering retail Fiber-to-the-Home (FTTH) broadband must provide all FTTH broadband plans up to 200 Mbps to PDOs at tariffs not exceeding the retail subscriber tariffs for the corresponding bandwidth.
• TRAI found that the PM-WANI tariffs were around twice as costly compared to retail broadband FTTH tariffs for similar plans.
• Example:
• 100 Mbps PM-WANI plan cost: ₹1,532.82
• 100 Mbps retail FTTH plan cost: ₹706.82
• 50 Mbps PM-WANI plan cost: ₹1,178.82
• 50 Mbps retail FTTH plan cost: ₹588.82
• The tariff framework aims to assist small-scale PDOs and also ensure reasonable compensation for service providers.
• The framework considers the prevailing market scenario, current adoption levels of PM-WANI, and potential future growth, promoting orderly, sustainable, and inclusive growth of the public Wi-Fi ecosystem
• The Department of Telecommunications (DoT) highlighted that the proliferation of PM-WANI is significantly below targets mainly due to the high cost of internet connectivity charged by telecom and internet service providers.
• Telecom providers were requiring PDOs to connect public WiFi via expensive Internet Leased Lines (ILL) under commercial agreements.
• In response, TRAI issued the Draft Telecommunication Tariff (70th Amendment) Order, 2024 on August 23, proposing alignment of PM-WANI tariffs with retail FTTH broadband tariffs.
• After stakeholder comments, on September 16, 2024, DoT amended the PM-WANI framework to remove the requirement for PDOs to enter commercial agreements with telecom service providers for internet connectivity.

CURRENT AFFAIRS : STATE NEWS

West Bengal Launches AI-Enabled ‘Duare X-Ray’ Initiative in Remote Villages of South 24 Parganas

• The West Bengal Health Department has launched the Duare X-Ray programme under the National Tuberculosis Elimination Program (NTEP).
• The programme involves the distribution of portable X-Ray machines equipped with AI technology.
• Initially, 14 AI-fitted portable X-Ray machines have been sent to Primary Health Centres (PHCs) in two health districts of South 24 Parganas:8 machines to South 24 Parganas health district, 6 machines to Diamond Harbour health district
• These machines are portable and can be carried to health camps, including those in remote island areas of South 24 Parganas.
• Each portable X-Ray machine, once charged, can perform at least 200 X-Rays.
• Although primarily intended for tuberculosis (TB) patients, the X-Ray facility will also be available to those with other health complications visiting the PHCs or camps.
• The main objective is to reduce travel for remote villagers, enabling them to get X-rays locally at PHCs or health camps.
• Doctors can use these machines to conduct on-the-spot X-rays and provide timely medical advice.

Recent News :

• In March 2025, The Padmaja Naidu Himalayan Zoological Park in Darjeeling, West Bengal became the first zoo in the country to preserve DNA samples of more than 60 varieties of wildlife found exclusively in the snowy Himalayan terrains.

About West Bengal:

• Chief Minister: Mamata Banerjee
• Governor: C. V. Ananda Bose
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
• Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

French Luxury Group Kering Names Luca de Meo as New Chief Executive Officer

• Kering, the French luxury group, has appointed Luca de Meo as its new Chief Executive Officer (CEO).
• The decision was initiated by Chairman François-Henri Pinault and approved by Kering’s Board of Directors on 16 June 2024.
• This appointment introduces a new governance model separating the roles of Chairman and CEO:
• Pinault remains Chairman of the Board
• De Meo to assume CEO role, pending shareholder approval at the meeting on 9 September 2024.
• The Board will also appoint de Meo as Director and approve the new compensation policy aligned with the revamped structure.
• De Meo’s term as CEO will officially begin on 15 September 2024, subject to approvals.
• Luca de Meo brings over 30 years of experience in the automotive industry.

His career highlights:

• Started with Renault in 1992.
• President of Seat and Cupra (2015-2020).
• Member of supervisory boards of Ducati and Lamborghini.
• Chairman of Volkswagen Group in Spain.
• CEO of Renault Group and member of its Management Board since January 2021.
• CEO of Renault brand (Jan 2021 - Feb 2023).

Additional roles:

• President of the European Automobile Manufacturers Association (Jan 2023 - Dec 2024).
• CEO of Ampere, a leader in electric and software-defined vehicles.
• Board member of TIM (Telecom Italia) (Apr 2021 - Oct 2022).

Reserve Bank of India Approves Reappointment of Sandeep Batra as ICICI Bank Executive Director for Two Years

• ICICI Bank Limited, a private sector lender, announced that it has received approval from the Reserve Bank of India (RBI) for the reappointment of Sandeep Batra as Executive Director.
• The RBI has approved his reappointment for a two-year term, effective from December 23, 2025, to December 22, 2027.
• Sandeep Batra is currently serving as Executive Director, with his ongoing term from December 23, 2023, to December 22, 2025, also previously approved by the RBI.
• The earlier RBI approval for the current term was communicated on December 20, 2023.
• This marks a continuation of leadership at ICICI Bank, with regulatory backing from the central bank.

About ICICI Bank Limited :

• Founded : 5 January 1955
• Headquarters : Mumbai, Maharashtra, India
• MD &CEO :Sandeep Bakhshi

CURRENT AFFAIRS : DEFENCE NEWS

India, Cyprus Condemn Terrorism to Strengthen Defence Collaboration

• Cyprus reaffirmed its steadfast support for India’s stance against cross-border terrorism.
• Both nations jointly and unequivocally denounced terrorism and violent extremism in every form.
• Indian Prime Minister Narendra Modi and Cypriot President Nikos Christodoulides held comprehensive discussions resulting in a joint declaration.
• The joint declaration emphasized:Strong condemnation of the recent barbaric killing of civilians in the Pahalgam terrorist attack in Jammu & Kashmir.
• Reiteration of zero-tolerance stance toward terrorism, rejecting justification under any situation.
• Asserted that terror perpetrators must be held accountable.
• India and Cyprus condemned all types of terrorism including international, cross-border, and state-sponsored terrorism.
• PM Modi’s visit to Cyprus marks his first foreign trip since Operation Sindoor was launched by India on May 7, 2025.
• Both leaders stressed the need for multilateral cooperation and urged swift finalization and adoption of the Comprehensive Convention on International Terrorism under the UN framework.
• Modi’s visit is the first by an Indian Prime Minister to Cyprus in over 20 years.

About Cyprus :

• President :Nikos Christodoulides
• Capital :Nicosia
• Currency :Euro

Hindustan Aeronautics Limited’s New Nashik Facility to Conduct Maiden Test Flight of Light Combat Aircraft Mk-1A by July

• The Light Combat Aircraft (LCA) Mk-1A is manufactured by Hindustan Aeronautics Limited (HAL), with a new production facility in Nashik preparing for its maiden test flight by July.
• This is the first LCA Mk-1A built outside Bengaluru, with delivery to the Indian Air Force (IAF) expected between July and August 2025.

Key Highlights :

• HAL currently produces 16 LCA Mk-1As annually in Bengaluru; the Nashik facility will increase total production to 24 jets per year.
• The Bengaluru unit delivered the first Mk-1A to the IAF in March 2024.
• The Nashik facility will produce two LCA Mk-1As in FY25 and plans to ramp up production to meet delivery commitments.
• HAL is contracted to supply 83 Mk-1As to the IAF under a ₹48,000 crore contract awarded in February 2021.
• The LCA Mk-1A is an advanced version of the LCA Tejas, developed by HAL and the Aeronautical Development Agency (ADA).
• Key improvements in Mk-1A include:Better avionics, radar, and weapons capabilities, Israeli-origin EL/M-2052 AESA radar, Ability to fire advanced missiles like Astra beyond visual range air-to-air missile, Modern self-protection systems, Reduced maintenance needs for better operational readiness
• The Mk-1A will gradually replace older MiG-21 fighters in the IAF.
• The Nashik-built LCA Mk-1A has completed ground tests and awaits flight trials, with delivery expected around September-October 2025.
• The IAF is expected to receive three more LCA Mk-1As by December 2025.
• General Electric (GE), USA, has supplied 16 of the 99 required F404-IN20 engines, with the remaining expected by 2029 under a $716 million contract.
• A second shipment of engines is expected in July 2025.
• The aircraft has completed taxi trials and engine ground runs; upcoming tests include spin tests and other evaluations.
• HAL and GE signed a deal in June 2023 to produce GE F414 engines in India for the upcoming Mk-2 variant of the Tejas, which will be larger and more powerful.
• The IAF plans to order an additional 97 LCA Mk-1As worth ₹67,000 crore beyond the initial 83.

CURRENT AFFAIRS : ENVIRONMENT

New Flowering Plant Species Found in Aravali Hills Near Jaipur

• A new flowering plant species named Portulaca bharat was discovered in the rocky and semi-arid landscape of the Aravali hills near Jaipur.
• The species has unusual morphological characteristics, including opposite, slightly concave leaves, pale-yellow flowers turning creamish-white, glandular hairs on stamen filaments, and thick roots.
• The plant is endemic to India and currently known from a single location near the historic Galtaji temple on the outskirts of Jaipur.
• Only 10 individuals of this species were found in the wild, highlighting its narrow endemism and vulnerability to habitat degradation and climate change.
• Classified as “data deficient” under the International Union for Conservation of Nature (IUCN) Red List guidelines due to limited data.
• The plant was first spotted by researcher Nishant Chauhan, a member of the Satpura Biodiversity Conservation Society (SBCS).
• Live specimens were cultivated in controlled environments in Himachal Pradesh (Hamirpur) and Lucknow for detailed study of growth and morphology.
• The species was officially described and published in the international scientific journal Phytotaxa after comparison with herbarium collections from the Botanical Survey of India (BSI).
• The genus Portulaca contains about 153 species worldwide, mostly in tropical and subtropical regions; India has 11 known species, with 4 endemics, mostly in dry and semi-arid habitats.
• Discovery underlines the hidden biodiversity of the Aravali Range, one of the Earth’s oldest geological formations and a habitat for many micro-endemic species.
• The discovery emphasizes the need for enhanced field surveys, habitat protection, and ex situ conservation efforts especially in neglected dry zones like the Aravalis.
• Naming the plant Portulaca bharat symbolizes India’s rich natural heritage and opens avenues for research in phytogeography, ecology, and evolutionary biology.
• The research team included Amber Srivastava (BSI), Sudhanshu Shekhar Dash (BSI Kolkata), and Sushil Kumar Singh (BSI Dehradun).
• Nishant Chauhan previously pioneered the first ex situ introduction of the critically endangered Commiphora wightii in Himachal Pradesh (2024) and rediscovered two plant species thought extinct.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Defence Research and Development Organisation and IIT Delhi Achieve Quantum Entanglement-Based Secure Free-Space Communication Over 1 km Distance

• India entered a new quantum era by successfully demonstrating free-space quantum secure communication using quantum entanglement over more than 1 km distance.
• The experiment was conducted through the Defence Research and Development Organisation (DRDO)-Industry-Academia Centre of Excellence (DIA-CoE) at IIT Delhi, using a free-space optical link on the IIT Delhi campus.
• The demonstration achieved a secure key rate of nearly 240 bits per second with a quantum bit error rate (QBER) of less than 7%.
• This entanglement-assisted quantum secure communication is crucial for real-time applications such as quantum cyber security, long-distance Quantum Key Distribution (QKD), quantum networks, and the future quantum internet.

Key Highlights :

• The project, titled ‘Design and development of photonic technologies for free space QKD’, is sanctioned by the Directorate of Futuristic Technology Management (DFTM), DRDO.
• The demonstration was led by Prof Bhaskar Kanseri’s research group with the presence of key dignitaries from DRDO and IIT Delhi.
• Quantum entanglement-based QKD offers enhanced security and functionality over traditional prepare-and-measure methods, ensuring the security of key distribution even if devices are compromised.
• Any eavesdropping attempts disturb the quantum state, alerting authorized users to the presence of intruders.
• Quantum communication provides unbreakable encryption and is a dual-use technology with applications in defence, finance, telecommunications, and national security.
• Free-space QKD eliminates the need for laying optical fibers, which can be disruptive and expensive in difficult terrains and urban areas.
• Previous achievements include:India’sfirst intercity quantum communication link (Vindhyachal to Prayagraj) in 2022 using underground dark optical fiber& Successful distribution of quantum keys over a 100 km telecom-grade optical fiber spool in 2024.
• The technologies are developed via DRDO-Industry-Academia Centres of Excellence (DIA-CoEs), an initiative by DRDO with 15 Centres at premier institutes like IITs, IISc, and Universities focused on cutting-edge defence technology development.

India’s Nuclear Arsenal Grows to Estimate 172 Warheads as of January 2024, Up from 170 in Previous Year

• India’s nuclear arsenal is estimated at at least 172 warheads as of January 2024, up from 170 a year earlier.
• Pakistan’s nuclear arsenal is estimated to have 170 warheads, unchanged from the previous year.
• China’s nuclear arsenal increased significantly to 500 warheads in January 2025, up from 410 a year ago.
• India has more nuclear weapons than Pakistan, but China’s strategic arsenal is bigger than India’s.
• India’s nuclear deterrent still mainly focuses on Pakistan, but there is growing emphasis on longer-range weapons targeting China.
• India is modernizing its nuclear triad:Land-based missiles (e.g., Agni-V ICBM), Nuclear-capable aircraft, Development of nuclear-powered ballistic missile submarines (SSBNs)
• India is developing new delivery systems, including hypersonic glide vehicles.

Key Highlights :

• India reportedly stores nuclear warheads separately from delivery systems, maintaining a policy of ambiguity by not publicly disclosing warhead numbers.
• India is expanding its fissile material production capacity for nuclear weapons.
• India has not signed the Nuclear Non-Proliferation Treaty (NPT) or the Comprehensive Nuclear Test Ban Treaty (CTBT).
• China aims to develop a nuclear arsenal at least equal to Russia and the USA (which together hold about 90% of global nuclear weapons).
• China is expanding its nuclear arsenal faster than any other country, now surpassing France and the UK in warhead numbers.
• China is deploying multiple warhead systems (MIRVs) on single missiles, increasing its warhead count.
• Globally, nine countries (USA, Russia, UK, France, China, India, Pakistan, Israel, North Korea) possessed 12,121 nuclear warheads in January 2024.
• Of these, 9,585 warheads are in military stockpiles, and 3,904 warheads are deployed on missiles and aircraft.
• About 2,100 warheads worldwide are kept on high operational alert.
• SIPRI researcher Wilfred Wan highlighted the current era as “one of the most dangerous periods in human history” due to increasing nuclear arsenals and the growing role of nuclear weapons in military strategies.

CURRENT AFFAIRS : SPORTS NEWS

Board of Control for Cricket in India to Introduce Extra Bone Test for Age Verification in Junior Cricket

• The Board of Control for Cricket in India (BCCI) has decided to conduct an additional bone test at the junior cricket level to prevent players from losing a season due to the “+1 factor” added in the existing age calculation.
• Currently, players undergo a bone age test using the TW3 method (Tanner-Whitehouse 3) and a +1 factor is added to their bone age to determine eligibility for the next season in the same age group.
• The +1 factor sometimes renders players ineligible by the thinnest margins, which the new rule aims to correct.

Key Highlights :

• Under the new rule, an Under-16 boys’ player will undergo a second bone test the following season if the +1 factor disqualifies him in the previous year.
• This step is to ensure that eligibility is based on scientific bone age measurement rather than arithmetical calculation.
• The bone age cut-offs are: 16.5 years for U-16 boys, 15 years for U-15 girls
• For U-16 boys, bone age must be 16.4 years or below to be eligible in the following season.
• For U-15 girls, the bone age must be 14.9 years or below to participate in the next season.
• Example for boys:If a player’s bone age is 15.4 years in the 2025-26 season, he does not need another bone test the next season.
• The +1 factor makes his bone age 16.4 years for the 2026-27 season, making him eligible.
• If a player’s bone age is 15.5 years or above, the bone age after +1 factor becomes 16.5 or higher, making him ineligible for U-16.
• For U-15 girls, if a player’s bone age is 13.9 years, she can play the next season with an adjusted bone age of 14.9 years.
• If her bone age is 14 or above, she is eligible only for the current season but not for the next one.

About Board of Control for Cricket in India :

• Founded : December 1, 1928
• Headquarters : Mumbai, Maharashtra, India
• President :Roger Binny

Andrea Kimi Antonelli Claims First F1 Podium with Third-Place Finish at 2025 Canadian Grand Prix

• Andrea Kimi Antonelli, an 18-year-old Mercedes rookie, secured his first Formula 1 podium by finishing third in the 2025 Canadian Grand Prix in Montreal.
• He became the third youngest podium finisher in F1 history at 18 years and 294 days, behind:Max Verstappen (18y, 228d), Lance Stroll (18y, 239d)
• Antonelli is the first Italian to reach the F1 podium since 2006, when Giancarlo Fisichella last achieved the feat.
• Antonelli also became the youngest F1 driver to set a fastest lap — 18 years and 225 days old during the Japanese Grand Prix, breaking Verstappen’s record.
• He is also the third youngest driver to start a Formula 1 race.
• Mercedes selected Antonelli for their F1 team in 2025, directly promoting him from F2, skipping F3, and gaining an exemption from the FIA super licence age requirement.
• Antonelli was part of the Mercedes junior programme from his karting days.
• The 2025 Canadian GP podium finish was Mercedes' first of the season.
• Antonelli’s performance followed five races without points, including two retirements.
• His success in Montreal was due to improved tyre management, qualifying performance, and race pace.
• Toto Wolff, Mercedes’ Team Principal, backed Antonelli over more experienced drivers like Mick Schumacher and Esteban Ocon, a decision that initially drew criticism but now appears vindicated.
• Lando Norris (McLaren) finished 4th, and Charles Leclerc (Ferrari) finished 5th, behind Antonelli.
• Antonelli’s next race will be the Spanish Grand Prix in Barcelona on June 30, 2025.

YOUNGEST DRIVERS TO A PODIUM FINISH :

CURRENT AFFAIRS : IMPORTANT DAYS

World Day to Combat Desertification and Drought Observed Every Year on June 17

• World Day to Combat Desertification and Drought is observed annually on 17 June to raise awareness on land degradation and promote sustainable land management.
• It was established by the United Nations General Assembly in 1994 after adopting the United Nations Convention to Combat Desertification (UNCCD).
• The 2025 theme is “Restore the Land. Unlock the Opportunities.”, emphasizing the need to restore 1.5 billion hectares of degraded land by 2030.
• The observance traces back to the 1992 Rio Earth Summit, which identified desertification, climate change, and biodiversity loss as major threats.
• The UNCCD is the only legally binding international agreement linking environment, development, and land.
• Land degradation is a critical issue as 1 million sq km of land (equivalent to the size of Egypt) is degraded annually.
• India’s initiatives include restoring 26 million hectares by 2030, supported by the National Action Plan to Combat Desertification (NAPCD) 2023, incorporating programs like CAMPA, Green India Mission, and Forest Fire Management.
• India also promotes carbon sequestration and hosts a Centre of Excellence in Dehradun for global knowledge exchange on land restoration.
• Globally, over 1 billion hectares have been pledged for restoration under initiatives like the G20 Global Land Restoration Initiative and the Bonn Challenge.
• The restoration economy is significant, with every $1 invested yielding up to $30 in returns.
• To meet global restoration targets, the UNCCD Global Mechanism estimates a funding requirement of $1 billion per day between 2025 and 2030.

Daily CA on June 18 :

• International Finance Corporation (IFC), a member of the World Bank Group, signed an agreement to invest $60 million (about Rs 510 crore) in Motilal Oswal Alternates.
• The Reserve Bank of India (RBI) has released draft directions aimed at relaxing reporting requirements for rupee interest rate derivatives to reduce compliance burden.
• State Bank of India (SBI), the country’s largest lender, has reduced lending rates by 50 basis points (bps) after the Reserve Bank of India’s (RBI) policy rate cut.
• The Telecom Regulatory Authority of India (TRAI) has prescribed a cap on tariffs charged to Public Data Offices (PDOs) under the PM-WANI scheme to keep public Wi-Fi affordable.
• The Board of Control for Cricket in India (BCCI) has decided to conduct an additional bone test at the junior cricket level to prevent players from losing a season due to the “+1 factor” added in the existing age calculation.
• The West Bengal Health Department has launched the Duare X-Ray programme under the National Tuberculosis Elimination Program (NTEP).
• Kering, the French luxury group, has appointed Luca de Meo as its new Chief Executive Officer (CEO).
• ICICI Bank Limited, a private sector lender, announced that it has received approval from the Reserve Bank of India (RBI) for the reappointment of Sandeep Batra as Executive Director.
• Cyprus reaffirmed its steadfast support for India’s stance against cross-border terrorism.
• The Light Combat Aircraft (LCA) Mk-1A is manufactured by Hindustan Aeronautics Limited (HAL), with a new production facility in Nashik preparing for its maiden test flight by July.
• A new flowering plant species named Portulaca bharat was discovered in the rocky and semi-arid landscape of the Aravali hills near Jaipur.
• India entered a new quantum era by successfully demonstrating free-space quantum secure communication using quantum entanglement over more than 1 km distance.
• India’s nuclear arsenal is estimated at at least 172 warheads as of January 2024, up from 170 a year earlier.
• Andrea Kimi Antonelli, an 18-year-old Mercedes rookie, secured his first Formula 1 podium by finishing third in the 2025 Canadian Grand Prix in Montreal.
• World Day to Combat Desertification and Drought is observed annually on 17 June to raise awareness on land degradation and promote sustainable land management.