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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Eases Capital Requirements for Banks on Emergency Credit Line Guarantee Scheme 5.0-Backed Loans

• The Reserve Bank of India (RBI) has relaxed capital requirements for banks under loans backed by the Emergency Credit Line Guarantee Scheme (ECLGS 5.0).
• The revised norms came into effect with immediate implementation through an amendment to the RBI (Commercial Banks – Prudential Norms on Capital Adequacy) Directions, 2025.
• Under the new framework, 75% of the guaranteed portion of ECLGS loans will attract a 0% risk weight.
• The remaining 25% exposure will continue to attract a 20% risk weight as per existing norms.
• The 0% risk weight benefit is applicable only when banks expect settlement within 30 days of guarantee invocation.
• Banks must ensure timely settlement within 30 days to avail the zero-risk treatment.
• The relaxation reduces the capital requirement burden on banks, potentially supporting higher credit flow under the scheme.
• Risk weight determines the amount of capital banks must hold against loans, impacting lending capacity.

About Emergency Credit Line Guarantee Scheme :

• The Emergency Credit Line Guarantee Scheme (ECLGS) is a government-backed credit guarantee framework for lending institutions.
• It was designed to provide additional working capital support through guaranteed loans to eligible borrowers.
• The scheme mainly benefits Micro, Small and Medium Enterprises (MSMEs) and other notified borrower categories.
• It operates through a sovereign guarantee mechanism, which reduces lender risk on sanctioned credit.
• ECLGS has been associated with collateral-free or partially collateral-free lending in its earlier versions.
• The scheme is implemented through banks and eligible financial institutions across the country.
• It has been extended and revised multiple times since its launch in 2020 to widen coverage and impact.

National Stock Exchange Indices Expands Portfolio with 11 New Sectoral Indices, Total Count Rises to 34

• The NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE), has expanded its index portfolio by launching 11 new sector-specific indices.
• With this addition, the total number of NSE indices has increased to 34.
• The expansion aims to provide broader market representation across traditional and emerging sectors of the Indian economy.
• The new indices cover key sectors such as power, capital goods, telecommunications, construction, consumer services, retail, healthcare, and financial services.
• The newly launched 11 sectoral indices are: Nifty Power, Nifty Capital Goods, Nifty Telecommunications, Nifty Construction, Nifty Consumer Services, Nifty Commercial & Transport Services, Nifty Retail, Nifty Hospitals, Nifty NBFC, Nifty Housing Finance, and Nifty Insurance.
• The initiative enhances sectoral market tracking, investment benchmarking, and index-based financial products.

Recent News :

• In May 2026, The National Stock Exchange of India crossed 13 crore unique registered investors, with the latest 1 crore investors added in just 7 months (since September 2025).

National Financial Sector Launches ARIFAC Platform to Strengthen AML/CFT Framework in India

• India’s financial sector has launched a national industry platform called the Alliance of Reporting Entities in AML/CFT (ARIFAC) to strengthen the country’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)
• The initiative aims to enhance the AML/CFT ecosystem in response to rising financial crimes and cyber fraud risks.
• The secretariat of ARIFAC is jointly managed by the Payments Council of India (PCI) and the Fintech Convergence Council (FCC).
• The Financial Intelligence Unit–India (FIU-IND) will participate as an observer in the platform.
• The platform focuses on training, certification, workshops, and continuous learning programmes to strengthen AML/CFT awareness and capacity building.
• Membership includes all reporting entities under the Prevention of Money Laundering Act (PMLA).
• Key members include banks, NBFCs, payment system operators, securities market intermediaries, insurance companies, Virtual Digital Asset (VDA) service providers, and other PMLA-regulated entities.
• The platform emphasizes strengthening transaction monitoring systems and Suspicious Transaction Reporting (STR)
• It also focuses on sanctions screening, mule account detection, and cyber-risk mitigation across digital and cross-border financial systems.
• The initiative aims to address risks emerging from digital banking, cross-border financial crimes, and Virtual Digital Assets (VDAs).

CURRENT AFFAIRS : NATIONAL AND STATE NEWS

Prime Minister to Launch India’s First Commercial Coal-to-Ammonium Nitrate Plant in Jharsuguda, Odisha

• Prime Minister Narendra Modi will lay the foundation stone of a ₹25,016 crore Coal Gasification Project at Lakhanpur, Jharsuguda district, Odisha on 20 June 2026.
• The project is a major step towards strengthening India's energy security, promoting import substitution, and advancing Aatmanirbhar Bharat (self-reliance).

Key Highlights :

• Coal Gasification is a process that converts coal into synthesis gas (syngas), which can be used to manufacture methanol, urea, ammonium nitrate, synthetic natural gas (SNG), and other chemical feedstocks.
• The technology helps reduce dependence on imports of natural gas, ammonia, methanol, and critical industrial chemicals while promoting value addition to domestic coal resources.
• India is the world’s second-largest producer and consumer of coal and possesses the world’s fifth-largest coal reserves, exceeding 400 billion tonnes.
• Coal India Limited (CIL) is the largest coal-producing company in the world.
• To promote coal gasification, the Government of India has approved incentive schemes with a cumulative outlay of up to ₹46,000 crore for Surface Coal and Lignite Gasification Projects.
• India currently imports end-use and intermediate chemical products worth about ₹2.7 lakh crore annually, creating significant opportunities for import reduction through coal gasification.
• The coal gasification initiative is expected to attract investments of ₹2.5–3 lakh crore and generate around 50,000 direct and indirect employment opportunities across 25 projects in coal-bearing regions.
• The Lakhanpur Project is significant because it will be India’s first commercial-scale Coal-to-Ammonium Nitrate Facility.
• The project is being developed by Bharat Coal Gasification and Chemicals Limited (BCGCL), a joint venture of Bharat Heavy Electricals Limited (BHEL) and Coal India Limited (CIL).
• The facility will produce 2,000 tonnes per day (TPD) of Ammonium Nitrate using indigenously developed coal gasification technology by BHEL.
• A land-leasing agreement was signed in April 2026 between BCGCL and Mahanadi Coalfields Limited (MCL), a subsidiary of CIL.
• The project will be established on approximately 350 acres of land under MCL possession and has already received the required regulatory clearances.
• The Ministry of Coal is providing ₹1,350 crore financial support to the project under its coal gasification incentive scheme.
• The project is expected to become a model for future coal gasification ventures and support the development of a resilient industrial ecosystem based on domestic resources.

About Ministry of Coal :

• Cabinet Minister : G. Kishan Reddy
• Minister of State : Satish Chandra Dubey

Union Minister Shri Pralhad Joshi Launches Artificial Intelligence and Internet of Things-Enabled Smart Warehousing System to Modernise Foodgrain Storage in India

• The Department of Food and Public Distribution (DFPD) under the Ministry of Consumer Affairs, Food and Public Distribution launched the Smart Warehousing System for foodgrain storage at Bharat Mandapam, New Delhi.
• The system was inaugurated by Union Minister Shri Pralhad Joshi, in the presence of MoS Nimuben Jayantibhai Bambhaniya.
• The initiative represents the world’s largest deployment of AI and IoT-based technologies in public sector foodgrain warehousing.
• The system has been implemented across 215 Central Warehousing Corporation (CWC) warehouses, while the Food Corporation of India (FCI) is deploying it in an additional 150 warehouses.

Key Highlights :

• The Smart Warehousing System integrates Artificial Intelligence (AI), Internet of Things (IoT), FASTag, and ANPR-based automation technologies.
• Key features include geo-tagged smart locks, AI-based bag counting, facial recognition, object detection, and IoT-based environmental monitoring systems.
• It also enables AI-powered surveillance for fire, smoke, and rodent detection, improving warehouse safety and security.
• The system supports ERP integration, automated record generation, and advanced analytics for efficient warehouse management.
• It is expected to improve operational efficiency, reduce vehicle turnaround time (TAT), enhance transparency, and strengthen compliance monitoring.
• The initiative will also improve manpower productivity, real-time visibility, and early hazard detection in warehouses.
• The system will benefit farmers, warehouse operators, and over 80 crore beneficiaries under the Public Distribution System (PDS).
• The government aims to strengthen India’s food security architecture through technology-driven reforms and digital governance.
• Under digitisation efforts, 43 crore ineligible ration cards have been identified and removed to ensure transparent and targeted subsidy delivery.
• DFPD has launched several digital platforms including SMART PDS, Anna Chakra, Depot Darpan, ASHA, SCAN, and Anna Darpan to strengthen the food supply chain.
• The event also felicitated the Top 20 Performing Warehouses of CWC and FCI under the Depot Darpan framework.
• Several publications were released including “Practical Guide for Safe Grain Storage”, “Pocket Handbook for FPS Dealers”, and “Anna and Algorithms: Advancing Next-Gen Governance in PDS”.
• The Smart Warehousing System aligns with the national initiatives of Digital India, IndiaAI Mission, PM GatiShakti, and Atmanirbhar Bharat.

About Ministry of Consumer Affairs, Food & Public Distribution :

• Cabinet Minister : Pralhad Joshi
• Minister of State : Nimuben Bambhaniya, Banwari Lal Verma

Union Minister Shri Pralhad Joshi to Lay Foundation Stone and Inaugurate New Testing Facilities at National Test House

• The Union Minister Shri Pralhad Joshi (Consumer Affairs, Food and Public Distribution; New & Renewable Energy) will visit the National Test House (NTH), Western Region, Mumbai on 19 June 2026.
• He will lay the foundation stone of a Multi-Storeyed Residential Accommodation Project at the NTH campus, Mumbai to strengthen residential infrastructure for officers and staff.
• The project aims to improve the overall institutional ecosystem and working environment of NTH.
• The Minister will also inaugurate several modern testing facilities to strengthen India’s quality assurance infrastructure.
• At NTH Western Region, Mumbai, a Microbiological Testing Laboratory will be inaugurated to enhance capabilities in microbiological analysis and testing across sectors.
• At NTH Northern Region, Ghaziabad, a Shoe Testing Facility will be inaugurated to support the footwear industry quality testing ecosystem.
• At NTH–AURIC, Chhatrapati Sambhajinagar, a Satellite Testing Laboratory and Sample Collection Centre will be inaugurated in collaboration with NICDC (National Industrial Corridor Development Corporation).
• The AURIC facility will improve access to testing and calibration services for industries in Maharashtra’s industrial corridor region.
• The initiative will benefit industry, government agencies, and consumers by strengthening standardised testing and compliance systems.
• These developments reflect the government’s focus on strengthening National Quality Infrastructure (NQI) and improving consumer protection and industrial competitiveness.
• The initiative will help ensure compliance with national and international quality standards.
• The National Test House (NTH) is a premier institution under the Department of Consumer Affairs, MoC&FPD, providing testing, quality assurance, and calibration services.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Uzbekistan Becomes 10th Member and Shareholder of New Development Bank After Ratifying Articles of Agreement

• The Republic of Uzbekistan has officially become the 10th member and shareholder of the New Development Bank (NDB) after ratifying the NDB Articles of Agreement (AoA).
• This marks the first entry of a Central Asian country into the NDB, expanding the bank’s global membership base.
• Uzbekistan’s accession law was signed by President Shavkat Mirziyoyev on 21 May 2026, approving its formal entry into the bank.
• The accession enables Uzbekistan to participate in NDB-led infrastructure and development financing initiatives.
• The NDB plans to initiate its first projects in Uzbekistan, focusing on key sectors such as energy, water management, transport, municipal infrastructure, and social infrastructure.
• Project implementation will be supported through national currency financing, national procurement procedures, and environmental risk assessment mechanisms.
• The bank will also ensure efficient project preparation and implementation frameworks for development activities.
• Uzbekistan’s membership strengthens its position as a fast-growing economy in Central Asia, with strong trade, investment, and infrastructure development potential.
• The New Development Bank (NDB) was established in 2015 by BRICS countries to fund infrastructure and sustainable development projects.
• So far, the NDB has approved 139 projects worth approximately US$43 billion across member nations.
• With Uzbekistan’s inclusion, the NDB continues expanding beyond its founding members, including Brazil, Russia, India, China, South Africa, Egypt, UAE, Bangladesh, and Algeria.

About Uzbekistan :

• President : Shavkat Mirziyoyev
• Prime Minister : Abdulla Aripov
• Capital : Tashkent
• Currency : Uzbek sum

CURRENT AFFAIRS : MOUS & AGREEMENTS

Indian Institute of Tropical Meteorology–Aryabhatta Research Institute of Observational Sciences Collaboration to Set Up Himalayan Climate Monitoring Station under Bharat Climate Observation Network

• The Indian Institute of Tropical Meteorology (IITM), Pune signed a Memorandum of Understanding (MoU) with the Aryabhatta Research Institute of Observational Sciences (ARIES), Nainital on 18 June 2026 through online mode.
• The MoU was signed by Dr. A. Suryachandra Rao (Director of IITM) and Dr. Manish Kumar Naja (Director of ARIES).
• The agreement aims to strengthen collaborative research on climate change through long-term observations of climate variables and atmospheric parameters.
• The collaboration will establish a Climate Observation Station at ARIES, Devasthal under the Bharat Climate Observation Network (BCON).
• ARIES, Devasthal, a high-altitude hilltop observatory, provides ideal conditions for studying greenhouse gases, climate-relevant pollutants, atmospheric transport processes, and Himalayan climate dynamics.
• The MoU has been signed for a period of more than 50 years, reflecting a long-term commitment to climate and atmospheric science research.
• The initiative supports the Mission Mausam programme of the Ministry of Earth Sciences (MoES).
• BCON (Bharat Climate Observation Network) is a national climate-monitoring initiative conceptualized and implemented by IITM under MoES to create a high-precision, long-term climate observation framework across India.
• BCON will monitor meteorological parameters, climate-active trace gases, greenhouse gases, short-lived climate forcers, atmospheric chemistry, and soil moisture.
• The network aims to build a high-quality, high-accuracy national climate database for detecting long-term climate trends and supporting advanced climate research.
• The climate datasets generated through BCON will help improve climate assessment, evidence-based policymaking, and climate change studies in India.
• The data will also provide critical validation for Earth System Models (ESMs), including India’s first Earth System Model – IITM ESM, enhancing future climate projections.
• The collaboration is expected to strengthen India’s capabilities in climate monitoring, atmospheric sciences, climate modelling, and environmental research.

Jeh Aerospace & Solestra Group Sign Multi-Year Agreement to Set Up Global Manufacturing Centre in Hyderabad

• Jeh Aerospace Private Limited (India) and Solestra Group (USA) signed a multi-year, multi-million-dollar agreement to establish a Global Manufacturing Centre (GMC) in Hyderabad, Telangana.
• The agreement was formalised during the visit of Joe DeMartino (CEO, Solestra Group) and Rocky Barnhart (VP & General Manager, Solestra Group) to India.
• The initiative aims to enhance aerospace manufacturing capacity and support New Product Introduction (NPI).
• It will also accelerate industrialisation and strengthen global supply chain resilience in the aerospace sector.
• The proposed facility will manufacture high-precision aerospace components for aero-engine and aircraft system applications.
• The centre will ensure digital transparency and strong intellectual property (IP) protection mechanisms.
• The collaboration combines Jeh Aerospace’s aerostructure expertise with Solestra Group’s high-precision mechanical systems capabilities.
• The partnership aims to deliver advanced aerospace manufacturing solutions with improved efficiency and reliability.

Essar Group and International Resources Holding Sign USD 500 Million Crude Oil and Product Sourcing Facility Agreement

• The Essar Group (India) and Abu Dhabi-based International Resources Holding (IRH) signed a USD 500 million crude oil sourcing and product supply facility agreement.
• The agreement is between Essar Energy Transition Fuels and IRH Global Trading.
• The facility establishes a USD 500 million structured sourcing arrangement for crude oil and petroleum products in global energy markets.
• The objective is to strengthen supply chain optimisation, procurement efficiency, and energy trading operations.
• It aims to ensure diversified crude sourcing channels and improve working capital efficiency.
• The agreement enhances feedstock security in a volatile global energy environment.
• It enables better response to global price fluctuations and demand changes in the energy market.
• IRH (International Resources Holding) is headquartered in Abu Dhabi, UAE, and operates as a mine-to-market investment platform focused on energy transition minerals and resources.
• IRH Global Trading is a wholly owned subsidiary of IRH, acting as a global energy trading and liquidity provider.
• The Essar Group is a global conglomerate with a presence in energy, infrastructure, metals & mining, and technology & retail sectors.
• Through Essar Energy Transition Fuels, the group operates the Stanlow Refinery (UK) and focuses on low-carbon energy transition initiatives.
• The facility supports Essar’s strategy to diversify crude sourcing and optimise working capital management.
• It also strengthens Essar’s ability to adapt to market volatility and enhance value creation in refining and trading operations.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government Appoints Hitesh Rameshchandra Joshi as Chairman-cum-Managing Director of General Insurance Corporation of India

• The Department of Financial Services (DFS), Ministry of Finance (MoF) has approved the appointment of Hitesh Rameshchandra Joshi as Chairman-cum-Managing Director (CMD) of General Insurance Corporation of India (GIC Re).
• He assumed charge as CMD of GIC Re (India’s national reinsurer) with effect from 16 June 2026, with a tenure up to 30 September 2028.
• He succeeded Narayanan Ramaswamy, whose tenure as CMD ended on 30 September 2025.
• Hitesh Rameshchandra Joshi has over 30 years of experience in the insurance and reinsurance sector.
• He had been serving as interim CMD of GIC Re since 1 October 2025 prior to his full-time appointment.
• He previously worked as Executive Director (ED) at GIC Re, handling international business operations, HR, IT, actuarial services, and business intelligence.
• His expertise includes domestic and international reinsurance, retrocession, risk management, strategic planning, finance, internal audit, credit rating, investor relations, and budget control.

About General Insurance Corporation of India :

• Founded : 22 November 1972 under the Companies Act, 1956.
• Headquarters : Mumbai, Maharashtra, India
• Owner : Government of India (85.78%)

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Contingent to Depart for Multilateral Military Exercise KHAAN QUEST in Mongolia

• The Indian Army contingent is set to participate in the Multilateral Joint Military Exercise “KHAAN QUEST” scheduled in Mongolia.
• The exercise will be held from 20 June to 03 July 2026 at the Five Hills Training Area, Ulaanbaatar, Mongolia.
• The 23rd edition of Exercise KHAAN QUEST aims to enhance interoperability and coordination among participating nations in peace support operations under Chapter VII of the United Nations Charter.
• The exercise reflects India’s strong commitment to global peace, multilateral cooperation, and strategic partnership with Mongolia.
• The Indian Army contingent comprises 40 personnel, including troops from a Battalion of the JAT Regiment and personnel from other Arms and Services.
• The exercise is designed to prepare forces for UN peacekeeping missions in a multinational environment.
• Key focus areas include joint planning and tactical drills such as establishment of static and mobile checkpoints, cordon and search operations, patrolling, evacuation of civilians, counter-IED drills, combat first aid, and casualty evacuation.
• The exercise enables participating countries to exchange best practices in tactics, techniques, and procedures (TTPs) for joint military operations.
• It enhances operational readiness, military cooperation, and camaraderie (bonhomie) among participating armed forces.
• The exercise originally began in 2003 as a bilateral drill between the USA and Mongolia and became a multilateral peacekeeping exercise from 2006 onwards.
• The 2026 edition marks the 23rd iteration of Exercise KHAAN QUEST.
• The previous edition was held in 2025 in Mongolia.

About Mongolia :

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

Raksha Mantri Rajnath Singh Emphasises Self-Reliance in Security Needs at Bhoomi Pujan of 10,000-Ton Aluminium Extrusion Press in Nagpur

• Raksha Mantri Rajnath Singh performed Bhoomi Pujan of a ₹10,000-Ton Aluminium Extrusion Press at Ordnance Factory Ambajhari, Nagpur (Maharashtra) on 19 June 2026, in the presence of Maharashtra CM Devendra Fadnavis.
• The facility is being developed under Yantra India Limited (YIL) and is aimed at strengthening Aatmanirbhar Bharat and import substitution in critical defence materials.
• The Aluminium Extrusion Press is a state-of-the-art industrial facility designed to produce large and complex aluminium alloy profiles.
• These aluminium components will be used in defence systems, aerospace structures, aviation platforms, missile programmes, railways, and strategic industrial applications.
• The project will help reduce dependence on imports of critical aluminium extrusions and strengthen the domestic defence and industrial supply chain.
• The press will support production of materials required for modern fighter jets, missiles, and space programmes, which require lightweight and high-strength alloys capable of withstanding extreme conditions.
• Raksha Mantri highlighted that indigenous manufacturing is crucial for national security and future readiness in changing geopolitical conditions.
• He stressed that Made-in-India defence equipment played a key role in Operation Sindoor, showcasing the importance of domestic capability.
• The Government is strengthening the defence ecosystem under the vision of Aatmanirbhar Bharat, focusing on technology, workforce, knowledge, and national confidence.
• India’s defence production has increased to ₹1.78 lakh crore in FY 2025–26, compared to ₹46,000 crore in 2014, showing strong growth in domestic manufacturing.
• Defence exports have surged from less than ₹1,000 crore in 2014 to a record ₹38,424 crore in FY 2025–26, reflecting India’s emergence as a global defence exporter.
• The Government has set future targets of ₹3 lakh crore defence production and ₹50,000 crore defence exports in the coming years.
• The corporatisation of the Ordnance Factory Board (OFB) into entities like YIL has improved efficiency, innovation, autonomy, and export capability.
• YIL’s performance shows significant growth, with production rising from ₹12,755 crore (FY 2019–20) to ₹26,282 crore (FY 2025–26).
• Defence exports by YIL increased from ₹81 crore (pre-corporatisation) to ₹4,561 crore, including a ₹397 crore contribution by YIL alone.

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Sanjay Seth

Ministry of Defence Clears ₹500 Crore Military Drone Technology Hub at Indian Institute of Technology Kanpur

• The Ministry of Defence (MoD) has granted in-principle approval for a ₹500 crore National Military Drone Technology Hub at Indian Institute of Technology Kanpur (IIT-K) in Uttar Pradesh (UP).
• The initiative aims to strengthen India’s capabilities in advanced unmanned systems and military drone technologies.
• The proposed hub will provide a full-stack capability, including design, testing, certification of military payloads, data links, ground stations, and counter-drone systems.
• The Army Design Bureau (ADB) has been designated as the single point of contact for coordination between MoD, IIT Kanpur, and the Uttar Pradesh government.
• A nodal officer system will be established to ensure streamlined inter-departmental coordination under the guidance of MoD, ADB, and IIT-K.
• The proposal was spearheaded by the Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) under the UP Defence Industrial Corridor (UP DIC)
• The hub aims to position Uttar Pradesh as a national centre for defence drone technology development and manufacturing.
• The project will promote a civil–military fusion model and scale up dual-use drone technologies under Drone Shakti.
• It will also enable distributed manufacturing and MRO (Maintenance, Repair, Overhaul) across nodes like Aligarh, Agra, Jhansi, Kanpur, Lucknow, and Chitrakoot.
• The hub will strengthen R&D, standardisation, startup ecosystem, and high-skilled employment generation in the defence sector.
• The initiative is expected to boost indigenisation under Make-1 and Make-2 categories.
• It will significantly reduce import dependence on critical drone sub-systems and enhance self-reliance in defence technology.

Indian Coast Guard Enhances Maritime Capability with Induction of Indigenous Air Cushion Vehicle

• The first of six indigenous Air Cushion Vehicles (ACVs) for the Indian Coast Guard (ICG) was inducted into service in Goa on 18 June 2026.
• The ACVs are being constructed by Chowgule & Company Private Limited under a contract with the Ministry of Defence (MoD).
• These hovercraft-based ACVs are designed to enhance the operational effectiveness of the Indian Coast Guard across a wide range of maritime security and surveillance duties.
• The induction strengthens the vision of Aatmanirbhar Bharat, promoting indigenous defence manufacturing and maritime capability development.
• The ceremony was attended by senior ICG officials and representatives from the shipbuilding industry, highlighting industry–defence collaboration.
• The ACVs will improve the ICG’s ability to respond to emerging maritime challenges, coastal threats, and security requirements.
• The induction reflects the ICG’s continued focus on modernisation, capability enhancement, and maritime preparedness.
• The contract for the six ACVs was signed between the Ministry of Defence and Chowgule & Company Private Limited on 24 October 2026.

About Indian Coast Guard :

• Formed : 18 August 1978
• Headquarters : New Delhi, India
• Director General : Paramesh Sivamani
• Coast Guard Day: 1 February

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation–Department of Atomic Energy Develop Advanced Heating System to Extend Lunar Lander Mission Life up to 200 Days

• The Indian Space Research Organisation (ISRO), in collaboration with the Department of Atomic Energy (DAE), is developing an advanced artificial heating system to extend the operational life of lunar landers.
• The technology aims to increase the operational lifespan of lunar landers from about 14 Earth days (one lunar day) to up to 200 days.
• The system is designed to help spacecraft survive extreme lunar night temperatures (below –129°C to –180°C).
• It will provide continuous thermal support to protect onboard instruments and critical systems during harsh lunar conditions.
• The initiative marks a major advancement in addressing the challenge of long lunar nights and loss of solar power.
• The Vikram Lander (Chandrayaan-3) successfully landed near the Moon’s south pole on 23 August 2023 and operated for one lunar day using solar power.
• However, its mission ended after lunar night due to power loss caused by lack of sunlight and extreme cold conditions.
• The new heating system will enable future landers to operate across multiple lunar day-night cycles, significantly enhancing scientific data collection and mission duration.
• This development will improve India’s capacity for long-term lunar exploration, environmental monitoring, and advanced surface experiments.
• The breakthrough supports India’s broader space ambitions, including the upcoming Chandrayaan-4 mission, aimed at lunar sample return.
• It also aligns with efforts to strengthen India’s private space sector innovation, supported by the IN-SPACe Technology Adoption Fund.

About ISRO:

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

CURRENT AFFAIRS : OBITUARIES

Padma Shri Awardee and Renowned Buddhist Scholar Robert A.F. Thurman Passed Away at 84

• The renowned American scholar of Tibetan Buddhism Robert Alexander Farrar (Robert A.F.) Thurman passed away on 16 June 2026 in New York, USA, at the age of 84.

About Robert A.F. Thurman :

• He was a distinguished author, translator, educator, and Padma Shri awardee, known for his contributions to literature, education, and Buddhist studies.
• He was born on 3 August 1941 in New York City, USA, and earned his D. from Harvard University.
• He served as the Jey Tsong Khapa Professor of Indo-Tibetan Buddhist Studies in the Department of Religion at Columbia University, New York.
• He was the first American to be ordained in the Tibetan Buddhist tradition under the 14th Dalai Lama.
• He translated the Vimalakirti Sutra into English and authored over 20 books, including Inner Revolution.
• He was a close associate of the 14th Dalai Lama, Tenzin Gyatso, and co-founded Tibet House US in 1986 to preserve and promote Tibetan culture and Buddhist traditions.
• He was widely recognised internationally and was listed among the 25 Most Influential Americans (1997) and featured by New York Magazine in 2006.
• Robert A.F. Thurman was awarded India’s Padma Shri (Literature and Education) in 2020, one of the country’s highest civilian honours, for his contributions to literature, education, and the promotion of Buddhist thought.

Daily CA on June 20 :

• The Reserve Bank of India (RBI) has relaxed capital requirements for banks under loans backed by the Emergency Credit Line Guarantee Scheme (ECLGS 5.0).
• The NSE Indices Limited, a subsidiary of the National Stock Exchange (NSE), has expanded its index portfolio by launching 11 new sector-specific indices.
• India’s financial sector has launched a national industry platform called the Alliance of Reporting Entities in AML/CFT (ARIFAC) to strengthen the country’s Anti-Money Laundering (AML) and Combating the Financing of Terrorism (CFT)
• Prime Minister Narendra Modi will lay the foundation stone of a ₹25,016 crore Coal Gasification Project at Lakhanpur, Jharsuguda district, Odisha on 20 June 2026.
• The Department of Food and Public Distribution (DFPD) under the Ministry of Consumer Affairs, Food and Public Distribution launched the Smart Warehousing System for foodgrain storage at Bharat Mandapam, New Delhi.
• The Union Minister Shri Pralhad Joshi (Consumer Affairs, Food and Public Distribution; New & Renewable Energy) will visit the National Test House (NTH), Western Region, Mumbai on 19 June 2026.
• The Republic of Uzbekistan has officially become the 10th member and shareholder of the New Development Bank (NDB) after ratifying the NDB Articles of Agreement (AoA).
• The Indian Institute of Tropical Meteorology (IITM), Pune signed a Memorandum of Understanding (MoU) with the Aryabhatta Research Institute of Observational Sciences (ARIES), Nainital on 18 June 2026 through online mode.
• Jeh Aerospace Private Limited (India) and Solestra Group (USA) signed a multi-year, multi-million-dollar agreement to establish a Global Manufacturing Centre (GMC) in Hyderabad, Telangana.
• The Essar Group (India) and Abu Dhabi-based International Resources Holding (IRH) signed a USD 500 million crude oil sourcing and product supply facility agreement.
• The Department of Financial Services (DFS), Ministry of Finance (MoF) has approved the appointment of Hitesh Rameshchandra Joshi as Chairman-cum-Managing Director (CMD) of General Insurance Corporation of India (GIC Re).
• The Indian Army contingent is set to participate in the Multilateral Joint Military Exercise “KHAAN QUEST” scheduled in Mongolia.
• Raksha Mantri Rajnath Singh performed Bhoomi Pujan of a ₹10,000-Ton Aluminium Extrusion Press at Ordnance Factory Ambajhari, Nagpur (Maharashtra) on 19 June 2026, in the presence of Maharashtra CM Devendra Fadnavis.
• The Ministry of Defence (MoD) has granted in-principle approval for a ₹500 crore National Military Drone Technology Hub at Indian Institute of Technology Kanpur (IIT-K) in Uttar Pradesh (UP).
• The first of six indigenous Air Cushion Vehicles (ACVs) for the Indian Coast Guard (ICG) was inducted into service in Goa on 18 June 2026.
• The Indian Space Research Organisation (ISRO), in collaboration with the Department of Atomic Energy (DAE), is developing an advanced artificial heating system to extend the operational life of lunar landers.
• The renowned American scholar of Tibetan Buddhism Robert Alexander Farrar (Robert A.F.) Thurman passed away on 16 June 2026 in New York, USA, at the age of 84.