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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Introduces Faster Mechanism for Share Transfer to Deceased Investors’ Heirs

• The Securities and Exchange Board of India (SEBI) approved a set of market reforms aimed at improving efficiency, transparency, investor convenience, and regulatory compliance in India’s capital markets.
• The decisions were taken at the 214th SEBI Board Meeting held in Mumbai, focusing on strengthening the capital market ecosystem.

Key Highlights :

• SEBI introduced a new framework for simplified transmission of securities to the legal heirs or claimants of deceased investors, reducing procedural delays.
• A new category called Quick Transmission Processing (QTP) has been introduced for small-value claims to enable faster processing with minimal documentation.
• Under QTP, simplified processing applies up to ₹10,000 for physical holdings and up to ₹30,000 for dematerialised holdings.
• SEBI also doubled documentation limits, increasing thresholds to ₹10 lakh for physical holdings and ₹30 lakh for demat holdings per beneficial owner/listed company.
• Key reforms include removal of mandatory PAN submission in certain transmission cases, as PAN details are already linked to demat accounts.
• SEBI has also discarded the mandatory probate of will requirement, aligning with updated succession law provisions.
• The regulator has permitted a combined affidavit-cum-NOC format, replacing separate affidavits and no-objection certificates to simplify procedures.
• SEBI now allows QR code-enabled death certificates for faster verification and easier processing.
• Additional verification methods have been introduced for foreign-issued death certificates through Indian banks or correspondent banking networks.
• SEBI has approved the reintroduction of open-market share buybacks via stock exchanges from 1 August 2026, with stricter compliance norms and revised timelines.
• Mutual Funds are now allowed to undertake intraday borrowings to manage temporary liquidity mismatches.
• Alternative Investment Funds (AIFs) will benefit from a faster approval process under the GARUDA framework, reducing launch timelines to 10 working days.
• SEBI has also approved reforms for securitised debt instruments in line with RBI guidelines.
• Measures were introduced to strengthen the municipal bond market, including refinancing and pooled financing mechanisms.
• The regulator reviewed the SME capital-raising framework for FY 2026–27 to improve fundraising efficiency for small businesses.
• A new Code of Conduct for SEBI members and employees was adopted to strengthen conflict-of-interest and disclosure norms.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Asian Development Bank Partners with Schoolnet India Limited for USD 10 Mn Digital Learning Infrastructure Project in India

• The Asian Development Bank (ADB) signed a USD 10 million financing package with Schoolnet India Limited (SIL) to strengthen digital learning infrastructure in government schools across India.
• The initiative aims to improve learning outcomes for 45 million students by scaling digital education in around 30,000 government schools.
• The project focuses on expanding human capital development along with upgrading digital hardware infrastructure.
• Under the programme, computer laboratories will be installed in at least 1,000 government schools.
• The project will establish around 58,000 digital classrooms to support technology-enabled learning.
• A total of 56,000 educators will be trained in digital teaching methods and pedagogy.
• This is ADB’s first private sector financing for a digital education project in India.
• The initiative aims to address gaps in digital access in education, aligning with the National Education Policy (NEP) 2020.
• Currently, only 26% of K–12 schools in India have computer laboratories, and 29% have smart classrooms, highlighting infrastructure gaps.
• The funding includes a USD 5 million loan from LEAP 2 (Leading Asia’s Private Infrastructure Fund 2).
• LEAP 2 is an ADB-managed fund supported by a USD 1.5 billion commitment from the Japan International Cooperation Agency (JICA).
• Established in 2023, LEAP 2 supports sustainable infrastructure projects focused on education, healthcare, communication, and energy efficiency.
• The project promotes inclusive, safe, and equitable digital learning practices in schools.

Recent News :

• In June 2026, Asian Development Bank (ADB) and Standard Chartered Bank signed agreements to strengthen Supply Chain Finance in India through risk-sharing arrangements.

About ADB :

• Formation : 19 December 1966
• Headquarters : Philippines
• President : Masato Kanda
• Members : 69 countries

Axis Bank–Birla Institute of Technology and Science Pilani Sign Agreement for ₹100 Crore Industry Research and Innovation Park in Hyderabad

• Birla Institute of Technology and Science (BITS) Pilani and Axis Bank Limited signed an agreement to establish the Axis Bank–BITS Industry Research, Technology and Innovation Park at the Hyderabad Campus, Telangana.
• The project is supported by a ₹100 crore Corporate Social Responsibility (CSR) grant from Axis Bank.
• The initiative aims to strengthen India’s innovation ecosystem, deep-tech sector, and translational research capabilities through industry–academia collaboration.
• The Innovation Park will focus on key sectors such as Life Sciences, Biopharma, Healthcare, Medical Devices, and Deep-Tech Innovation.
• It will promote research-driven solutions with strong societal impact.
• The facility will be spread across approximately 1.2 lakh square feet, supporting large-scale research and innovation activities.
• The infrastructure will include advanced laboratories, incubation centres, and shared research facilities.
• The project will support startups, researchers, and MSMEs (Micro, Small and Medium Enterprises) through a collaborative innovation ecosystem.
• A key focus will be on enabling technology transfer and strengthening industry-research linkages.
• The initiative will support Intellectual Property (IP) management, product development, and commercialization of innovations.
• It will facilitate collaboration between academia, biotechnology companies, healthcare innovators, and research institutions.

About Axis Bank:

• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Maharashtra Approves High-Energy Medical Cyclotron Project in Nagpur

• The Maharashtra Cabinet has approved the establishment of the High-Energy Medical Cyclotron Project (HEMCP) in Nagpur with an estimated investment of ₹300 crore to strengthen cancer diagnosis and treatment infrastructure in Central India.
• The project will function as a Radiopharmaceutical Innovation Hub and will ensure local production of critical radioisotopes used in Positron Emission Tomography–Computed Tomography (PET-CT) scans, nuclear medicine and cancer treatment.
• The facility is expected to reduce dependence on major healthcare centres such as Mumbai and Hyderabad for radioisotope supplies and improve timely access to diagnostic services.
• Nagpur was selected due to its strategic location and is expected to serve patients within a radius of nearly 500 kilometres, covering parts of Maharashtra, Madhya Pradesh, Chhattisgarh, Telangana and Andhra Pradesh.
• A 30-hectare land parcel at Bhansoli (Kinhi), Hingna Taluka, has been allocated for the project.
• The project will be funded equally by the Medical Education Department and the Industry Department, with the Medical Education Department contributing ₹150 crore initially.
• A cyclotron is a particle accelerator used to produce radioactive isotopes required for medical imaging, nuclear medicine and targeted cancer therapies.
• The project will be implemented through Mahacare via a Special Purpose Vehicle (SPV) under the Companies Act, 2013.
• Until the SPV is constituted, a steering committee headed by Shrikar Pardeshi, Principal Secretary to the Chief Minister, will oversee implementation.
• The project is expected to promote research, innovation and capacity building in radiopharmaceutical sciences while enhancing regional healthcare infrastructure.

Maharashtra Rural Drinking Water Policy 2026

• The Maharashtra Cabinet has also approved the Maharashtra Rural Drinking Water Policy 2026 to ensure sustainable and uninterrupted drinking water supply in rural areas.
• The policy supports the objectives of Jal Jeevan Mission 2.0 and focuses on long-term operation and maintenance of rural water supply schemes.
• Dedicated corpus funds will be created at the Gram Panchayat, Zilla Parishad and Maharashtra Jeevan Pradhikaran levels.
• The policy promotes technology-based monitoring through Supervisory Control and Data Acquisition (SCADA) systems, Geographic Information System (GIS)-based dashboards and digital monitoring of water assets.
• Household water tariffs will range between ₹150 and ₹400 per month.
• If revenue collection is insufficient, Gram Panchayats may utilise grants received under the 15th and 16th Finance Commissions to bridge the funding gap.
• Women Self-Help Groups (SHGs) and Primary Agricultural Credit Societies (PACS) will receive priority in water billing, collection and maintenance contracts.
• A three-tier grievance redressal mechanism will be established and supported by the Nal Jal Seva mobile application and Nal Jal Mitra initiative.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma.
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

RECENT NEWS

• The Maharashtra government has approved the Compressed Biogas (CBG) Policy 2026 to promote renewable energy generation through waste management and agricultural residue processing. The policy was approved by the Maharashtra Cabinet on April 22, 2026, and officially released on May 5, 2026.

Supreme Court Declares Right to Walk on Safe Footpaths a Fundamental Right

• The Supreme Court of India has ruled that the right to walk on safe and demarcated footpaths is a Fundamental Right guaranteed under the Constitution of India.
• The landmark judgment was delivered by a Bench comprising Justice P. S. Narasimha and Justice Atul S. Chandurkar while hearing a motor accident case involving the death of a five-year-old child.
• The Court held that the right to walk is protected under Part III of the Constitution and is intrinsically linked to Article 19(1)(a) (Freedom of Speech and Expression), Article 19(1)(b) (Right to Assemble Peacefully), Article 19(1)(c) (Right to Form Associations), Article 19(1)(d) (Freedom of Movement) and Article 21 (Right to Life and Personal Liberty).
• The Court observed that the right to walk naturally includes the right to access safe, well-maintained and clearly demarcated footpaths and pedestrian infrastructure.
• The judgment arose from a case in which a five-year-old child lost his life after being hit by a tanker while walking to school with his father on a road that lacked footpaths and pedestrian crossings.
• The Supreme Court restored and enhanced the compensation awarded to the victim's family to ₹11.44 lakh and directed that the amount be paid within two months.
• The Court emphasized that walking is the most basic form of human mobility and stated that the “right to walk precedes the right to move on wheels.”
• It noted that pedestrian rights have often been neglected due to increasing preference for motorized transport and inadequate urban planning.
• The Court held that the responsibility for ensuring pedestrian safety rests with urban development authorities, municipal corporations, municipal councils, panchayats and other local government bodies.
• These authorities are required to provide safe footpaths, clearly marked pedestrian zones, proper crossings, regular maintenance and protection of pedestrian infrastructure from encroachments.
• The judgment also stated that citizens may seek compensation, restitution and other legal remedies if pedestrian rights are violated.
• Such remedies are independent of those available under the Motor Vehicles Act, 1988.
• The Supreme Court further observed that India lacks a dedicated law specifically protecting pedestrian rights and urged the government to enact legislation recognizing the right to walk, defining responsibilities of authorities, providing speedy remedies and establishing an appropriate regulatory framework.
• Copies of the judgment have been forwarded to the Ministry of Housing and Urban Affairs, Ministry of Rural Development, Ministry of Road Transport and Highways and the Law Commission of India.

Prime Minister Narendra Modi to Lay Foundation Stone of India’s First Commercial-Scale Coal-to-Ammonium Nitrate Project in Odisha

• Prime Minister Narendra Modi is set to lay the foundation stone of India’s first commercial-scale Coal-to-Ammonium Nitrate Project at Lakhanpur in Jharsuguda district, Odisha.
• The project will be developed at an investment of ₹25,016 crore by Bharat Coal Gasification and Chemicals Limited (BCGCL).
• Bharat Coal Gasification and Chemicals Limited (BCGCL) is a joint venture between Bharat Heavy Electricals Limited (BHEL) and Coal India Limited (CIL).
• The project will be the first commercial-scale facility in India to convert coal into ammonium nitrate using indigenous technology.
• The plant will have a production capacity of 2,000 tonnes of ammonium nitrate per day, helping reduce dependence on imports and conventional feedstocks for this important industrial chemical.
• Coal gasification is a process that converts coal into synthesis gas (syngas), which mainly contains hydrogen and carbon monoxide and can be used to manufacture products such as methanol, urea, ammonium nitrate, synthetic natural gas and other chemical feedstocks.
• The technology enables the utilization of coal for producing value-added chemicals and fuels, thereby enhancing its economic value compared to direct combustion.
• The project is expected to strengthen India's energy security by reducing dependence on imported natural gas, ammonia, methanol and chemical intermediates.
• India is the world's second-largest producer and consumer of coal and possesses the fifth-largest coal reserves, estimated at more than 400 billion tonnes.
• Coal gasification is expected to reduce India's chemical import dependence, as the country currently imports end-use and intermediate chemical products worth around ₹2.7 lakh crore annually.
• To promote coal gasification, the Government of India has approved incentive schemes with a cumulative outlay of ₹46,000 crore for surface coal and lignite gasification projects.
• The national coal gasification programme is expected to attract investments of ₹2.5 lakh crore to ₹3 lakh crore, generate around 50,000 direct and indirect jobs, and support the development of 25 coal gasification projects in coal-bearing regions.
• The Lakhanpur project will be developed over approximately 350 acres and has received ₹1,350 crore support under the Ministry of Coal's Coal Gasification Incentive Scheme.
• The project has obtained the required approvals and is expected to commence implementation following the foundation stone ceremony.

About Coal India Limited (CIL):

• Established: 1975
• Headquarters: Kolkata, West Bengal
• Chairman: B. Sairam.

About Odisha:

• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park
• Wildlife Sanctuaries: Chandaka Wildlife Sanctuary, Nandankanan Zoological Park, Kuldiha Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Kotagarh Wildlife Sanctuary, Lakhari Valley Wildlife Sanctuary, Baisipalli Wildlife Sanctuary

RECENT NEWS

• State Government of Odisha have approved the restoration of the original Odia names for 64 places spread across the 26 districts of the state. This decision was approved by the state Cabinet which was chaired by the Chief Minister Mohan Charan Majhi on 13th of June, 2026.

National Highways Authority of India Launches Rajasthan’s First Multi-Lane Free Flow Tolling System

• The National Highways Authority of India (NHAI) has launched Rajasthan’s first Multi-Lane Free Flow (MLFF) tolling system at Daulatpura Toll Plaza on the Delhi–Jaipur section of National Highway-48 (NH-48).
• The MLFF system is a barrier-less toll collection mechanism that allows vehicles to pass through toll plazas without stopping or significantly slowing down.
• The system integrates Automatic Number Plate Recognition (ANPR) technology and FASTag-based Electronic Toll Collection (ETC) to automatically identify vehicles and collect toll charges digitally.
• High-resolution cameras capture vehicle registration numbers and the toll amount is automatically deducted from the vehicle's FASTag account.
• The new system eliminates physical barriers and manual verification, ensuring seamless traffic movement and reducing congestion at toll plazas.
• The launch marks a major step towards the modernization and digitization of highway infrastructure in Rajasthan.
• Following the successful implementation at Daulatpura, NHAI plans to convert Shahjahanpur Toll Plaza and Manoharpur Toll Plaza into Multi-Lane Free Flow tolling facilities.
• The system is expected to reduce travel time, improve fuel efficiency, lower vehicle emissions and enhance commuter convenience on the Delhi–Jaipur corridor.
• NHAI has previously implemented Multi-Lane Free Flow technology at Chorayasi Toll Plaza on the Surat–Bharuch section of National Highway-48 in Gujarat and Mundka Bakkarwala Toll Plaza on the Urban Extension Road-II (UER-II) in Delhi.
• The positive results from these projects have encouraged the expansion of Multi-Lane Free Flow tolling across India's national highway network.

About National Highways Authority of India (NHAI):

• Established: 1988
• Headquarters: New Delhi
• Chairman: Santosh Kumar Yadav

RECENT NEWS

• The National Highways Authority of India (NHAI) has announced the revision in the FASTag Annual Pass fee. This fee hike which will take effect from April 1 2026. According to the official order issued on the March 12 the cost of the annual pass for private non commercial vehicles has been increased slightly. 

CURRENT AFFAIRS: AWARDS AND HONOURS

Indian-Origin Physicist Jainendra K. Jain Becomes First Recipient of Indian Origin to Win Wolf Prize in Physics

• Indian-origin theoretical physicist Jainendra Kumar Jain became the first person of Indian origin to receive the prestigious Wolf Prize in Physics.
• He was honoured for his groundbreaking discovery of composite fermions, a revolutionary concept that transformed the understanding of the Fractional Quantum Hall Effect and opened new avenues in quantum physics research.
• The award was presented by Israeli President Isaac Herzog at a state ceremony in Jerusalem, Israel.
• The Wolf Prize is regarded as one of the world's most prestigious scientific awards and is often considered a precursor to the Nobel Prize, with several Wolf Prize recipients later becoming Nobel laureates.
• Jain made the discovery of composite fermions in 1989 while serving as a postdoctoral researcher at Yale University.
• He proposed that electrons can combine with quantum vortices to form new particles called composite fermions, providing a unified explanation for the Fractional Quantum Hall Effect.
• His theory successfully explained previously unexplained experimental observations and became one of the most influential concepts in condensed matter physics.
• The discovery led to the prediction of several fractional quantum states, popularly known as Jain States or Jain Sequences.
• Composite fermion theory has significantly contributed to research in exotic quantum states of matter, topological quantum systems, quantum computing, quantum bits (qubits) and advanced semiconductor technologies.
• Jain was born in Sambhar, Rajasthan, and overcame significant personal challenges, including a serious road accident during childhood that resulted in a permanent disability.
• He completed his Bachelor's degree from Maharaja College, Jaipur, Master's degree from the Indian Institute of Technology (IIT) Kanpur, and Doctor of Philosophy (PhD) from Stony Brook University, United States.
• He currently serves as a Professor at Pennsylvania State University and is the Founding Director of the Lodha Theoretical Physics Institute.
• Throughout his career, he has authored more than 250 scientific research papers and has been elected to the United States National Academy of Sciences and the American Academy of Arts and Sciences.

About Wolf Prize:

• Established: 1978
• Country: Israel
• Recognises: Outstanding achievements in Science and Arts
• Categories: Physics, Chemistry, Mathematics, Medicine, Agriculture and Arts

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

India Secures First-Ever Vice-Presidency of the Financial Action Task Force

• India achieved a historic milestone as Shri Vivek Aggarwal was elected and appointed as the Vice-President of the Financial Action Task Force (FATF).
• This is the first time India will hold the Vice-Presidency of the FATF, reflecting the country's growing global influence in combating financial crimes.
• Vivek Aggarwal is a 1994-batch IAS officer of the Madhya Pradesh cadre and is currently serving as Secretary, Ministry of Culture, Government of India.
• He was elected by the FATF Plenary, the highest decision-making body of the FATF.
• His tenure as FATF Vice-President will be from July 2026 to June 2027.
• The Vice-President of FATF assists the President in guiding the organization's work and implementing its global mandate.
• India's elevation to this position demonstrates the confidence and trust of the FATF Global Network, which comprises more than 200 jurisdictions worldwide.
• The achievement follows India's strong performance in the latest FATF Mutual Evaluation.
• India has played an active role in shaping global policies related to Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT).
• India has significantly contributed to discussions on emerging financial risks involving Virtual Asset Service Providers (VASPs) and digital payment systems.

About FATF :

• The Financial Action Task Force (FATF) is a Paris-based intergovernmental organization established in 1989.
• FATF is the global standard-setting body for combating Money Laundering (ML), Terrorist Financing (TF), and Proliferation Financing.
• FATF develops and promotes international policies and recommendations to prevent financial crimes.
• The FATF Presidency operates on a two-year term, with the Vice-President supporting the President in carrying out the organization's mandate.
• FATF recommendations serve as the global benchmark for AML/CFT regulatory frameworks adopted by countries worldwide.

Reserve Bank of India Approves Three-Month Extension for Keki Mistry as HDFC Bank Interim Chairman

• The Reserve Bank of India (RBI) approved the extension of Keki Mistry’s tenure as Interim Part-Time Chairman of HDFC Bank Limited for an additional three months, valid until 18 September 2026.
• The extension allows him to continue in the role until the appointment of a permanent non-executive part-time chairman, or until the tenure ends, whichever is earlier.
• Keki Mistry was initially appointed as Interim Part-Time Chairman of HDFC Bank with effect from 19 March 2026, after RBI approval for a three-month tenure ending 19 June 2026.
• He succeeded Atanu Chakraborty, who stepped down as Chairman on 18 March 2026.
• Keki Mistry previously served as the Vice Chairman and CEO of HDFC Limited and later as Vice Chairman of HDFC Bank Limited.
• Under RBI norms, the bank chairman must be a non-executive and independent director, ensuring governance compliance.
• The Nomination and Remuneration Committee (NRC) of HDFC Bank has shortlisted names for the position of permanent chairman, and discussions are ongoing with senior banking professionals.
• The search process for a permanent chairman began in late April 2026, following the resignation of the previous chairman.
• In a separate regulatory action, the RBI cancelled the licence of Shree Mahalaxmi Urban Co-operative Credit Bank, Gokak (Karnataka) in June 2026.
• The licence was cancelled due to inadequate capital, poor earning prospects, and non-compliance with the Banking Regulation Act, 1949.

About HDFC Bank:

• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Sashidhar Jagdishan
• Tagline: "We understand your world"

Indian Jurist Bimal N. Patel Appointed as Judge of UN International Tribunal for the Law of the Sea

• Renowned Indian jurist Bimal N. Patel has been elected as a Judge of the International Tribunal for the Law of the Sea (ITLOS) for the 2026–2035 term.
• He will assume office on 1 October 2026, succeeding Neeru Chadha, whose nine-year tenure ends in September 2026.
• The election took place during the 36th Meeting of States Parties to the United Nations Convention on the Law of the Sea (UNCLOS) held at the UN Headquarters in New York, USA.
• A total of 7 new judges were elected to ITLOS from among 172 UNCLOS signatory countries, representing India, Vietnam, Ghana, Tunisia, Russia, Brazil, and the Netherlands.
• The International Tribunal for the Law of the Sea (ITLOS) is an independent judicial body established under the 1982 UNCLOS.
• ITLOS has jurisdiction over disputes related to maritime zones, navigation, conservation of marine resources, marine environment protection, and marine scientific research.
• The Tribunal consists of 21 independent judges elected by States Parties through a secret ballot.
• Bimal N. Patel is a member of the UN International Law Commission and Chair of the Working Group on Succession of States in respect of State Responsibility.
• He is also Vice-Chancellor and Professor of Public International Law at Rashtriya Raksha University.
• Additionally, he serves on India’s National Security Advisory Board under the National Security Council Secretariat, PMO.
• Earlier, he has served as Director of Gujarat National Law University and a member of the 21st Law Commission of India.
• He has also worked with international organisations including the United Nations and the Organisation for the Prohibition of Chemical Weapons (OPCW), The Hague.

Appointments Committee of the Cabinet Clears Appointment of Saibal Chattopadhyay as Head of National Statistical Commission

• The Appointments Committee of the Cabinet (ACC) approved the appointment of Saibal Chattopadhyay, former Director of Indian Institute of Management (IIM), Calcutta, West Bengal (WB), as the Chairperson of the National Statistical Commission (NSC) under the Ministry of Statistics and Programme Implementation (MoSPI).
• Along with him, Shubhabrata Das, Satyendra Bahadur Singh, and Madhavan Mukund have been appointed as part-time members to strengthen the NSC’s operational capacity.

About National Statistical Commission (NSC) :

• The National Statistical Commission (NSC) was established by the Government of India through a resolution dated 1 June 2005 and became operational on 12 July 2006, based on the recommendations of the Rangarajan Commission (2001).
• The NSC is structured with a part-time Chairperson, four part-time technical members, one permanent ex-officio member, and a Secretary.
• The Commission is responsible for formulating policies and standards for India’s statistical system.
• It promotes quality, transparency, and public trust in official statistics across the country.
• The NSC ensures coordination between central and state statistical agencies for uniform data governance.
• It also conducts and oversees statistical audits to maintain the integrity and reliability of official data.

CURRENT AFFAIRS : DEFENCE NEWS

Ministry of Defence Signs ₹425 Crore Contract for 12 Marine Gas Turbine Generator Sets for Indian Navy Under Aatmanirbhar Bharat Initiative

• The Ministry of Defence (MoD) signed a contract with Bharat Forge Limited, Pune for the acquisition of 12 sets of 1.25 MW Marine Gas Turbine Generators for the Indian Navy.
• The total value of the contract is approximately ₹425 crore, signed under the Buy (Indian) category.
• The contract mandates a minimum of 60% indigenous content, promoting Aatmanirbhar Bharat and Make in India
• The agreement was signed in the presence of Defence Secretary Shri Rajesh Kumar Singh in New Delhi on 19 June 2026.
• The project aims to strengthen domestic defence manufacturing capability and develop a robust indigenous marine technology ecosystem.
• The marine gas turbine generator acts as a critical power source for modern naval combat ships, supporting combat systems, weapons, and sensors.
• The initiative enhances maritime self-reliance in strategic defence technologies and improves the operational readiness of the Indian Navy.
• It provides end-to-end life-cycle support for naval platforms through indigenous production.
• The project marks a significant step toward establishing India’s capability in manufacturing marine gas turbine generators domestically.
• The contract reinforces the government’s focus on defence indigenisation, self-reliance in critical technologies, and naval modernization.

Three Indigenous Naval Platforms to Be Commissioned by Indian Navy in Kolkata

• The Indian Navy is set to commission three indigenously built frontline warships—Dunagiri, Sanshodhak, and Agray—on 21 June 2026 in Kolkata, in a ceremony to be presided over by the Hon’ble Prime Minister.
• The three platforms have been designed by the Indian Navy’s Warship Design Bureau and constructed by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata.
• These vessels represent key capabilities in maritime combat, hydrographic surveying, and anti-submarine warfare, strengthening India’s overall naval operational readiness.
• The commissioning reflects the Navy’s focus on enhancing blue-water operations, improving maritime domain awareness, and securing coastal waters against emerging threats.
• INS Dunagiri, the fifth Project 17A stealth frigate, is equipped with advanced systems including BrahMos surface-to-surface missiles and Medium Range Surface-to-Air Missile (MR-SAM), significantly boosting combat capability.
• INS Sanshodhak, the fourth Survey Vessel (Large), is designed for coastal and deep-water hydrographic surveys and collects oceanographic and geophysical data for both defence and civilian use.
• It is equipped with advanced technologies such as Autonomous Underwater Vehicles (AUVs) and Remotely Operated Vehicles (ROVs).
• INS Agray, the fourth Arnala-class Anti-Submarine Warfare Shallow Water Craft, is equipped with lightweight torpedoes, indigenous rocket launchers, and shallow-water sonar systems to counter underwater threats in littoral zones.
• The three vessels highlight the maturity of India’s indigenous shipbuilding ecosystem, with over 75% indigenous content.
• Their construction involved participation from more than 200 MSMEs, generating significant employment opportunities across the defence manufacturing sector.
• The commissioning underscores collaboration between the Government of India, Indian Navy, public sector shipyards, private industry, and MSMEs.
• The initiative strongly supports the vision of Aatmanirbhar Bharat by advancing self-reliance in defence production and strengthening India’s maritime capabilities.

CURRENT AFFAIRS : APPS & PORTALS

Union Home Minister Amit Shah Reviews 1930 Helpline and Directs Strengthening of Cyber Crime Response System

• The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA) launched two new digital platforms: Grievance Redressal Mechanism (GRM) and Money Restoration Module (MRM).
• These portals aim to strengthen coordination between police forces, banking systems, and the National Cyber Crime Reporting Portal (NCRP) for faster cybercrime response.
• The initiative was reviewed in a high-level meeting chaired by Union Home Minister Shri Amit Shah in New Delhi, focusing on the National Cyber Crime Helpline 1930.

Key Highlights :

• The GRM portal is designed to address complaints of bank account freezing, lien, or hold status due to suspicious cyber transaction alerts during investigations.
• The MRM portal provides a mechanism for victims of cyber financial fraud to claim refund of frozen or recovered money after filing complaints.
• The National Cyber Crime Helpline 1930 is a key platform for registering cybercrime and financial fraud complaints in a quick and simplified manner.
• Shri Amit Shah directed that the 1930 system should be upgraded using Artificial Intelligence (AI) for improved complaint handling, call routing, and efficiency.
• He emphasized that no complaint should remain unattended or pending, ensuring timely support to every victim.
• The government aims to build a secure, technology-driven, citizen-centric cybercrime response system under the leadership of the Modi Government.
• States and Union Territories were directed to strengthen infrastructure and manpower at 1930 call centres.
• All state-level 1930 helplines will be upgraded with Interactive Voice Response (IVR) systems for better call management.
• A National-Level 1930 Call Centre will be established to handle unanswered or pending calls from states and ensure continuous victim support.
• The meeting also reviewed the Citizen Financial Cyber Fraud Reporting and Management System (CFCFRMS) to enable faster blocking and recovery of fraudulent transactions.
• A Standard Operating Procedure (SOP) issued in January 2026 ensures coordination among banks, financial institutions, and law enforcement agencies for quick fund recovery.
• The Supreme Court has directed High Courts to ensure implementation of the cyber fraud SOP across India.
• Around one lakh citizens have already benefited from the Money Restoration and GRM mechanism.
• Approximately 94 lakh bank accounts linked to potential fraud cases have been uploaded for monitoring under the system.

About Ministry of Home Affairs :

• Cabinet Minister : Amit Shah
• Minister of State : Nityanand Rai, Bandi Sanjay Kumar

CURRENT AFFAIRS : ENVIRONMENT

Scientists Discover New Lynx Spider Species in Meghalaya Named Hamataliwa mawlyngot

• Scientists from the Zoological Survey of India (ZSI) and the University of Calcutta, West Bengal discovered a new lynx spider species named Hamataliwa mawlyngot in Meghalaya.
• The species was found in Mawlyngot village, East Khasi Hills, marking the first recorded presence of the genus Hamataliwa in Meghalaya.
• The discovery expands the known distribution of the genus Hamataliwa across Asia, bridging a key geographical gap in its range.
• The research findings were published in the journal National Academy Science Letters.
• The new species belongs to the spider family Oxyopidae (lynx spiders) and inhabits dense vegetation on hillside slopes with tea plantations.
• Hamataliwa mawlyngot is an extremely small spider, smaller than a fingernail, known for hunting using speed, agility, and sharp vision instead of web-building.
• The species plays an important ecological role as a natural biological control agent, helping in the reduction of agricultural pest populations.
• The discovery highlights the rich biodiversity of Meghalaya’s ecosystem, especially in biodiversity-rich hillside habitats.
• The study was authored by Souvik Sen, Upasana Bhattacharya, and Puthoor Pattammal Sudhin.
• Earlier records of the genus Hamataliwa were limited to southern India, China, and Southeast Asia, and this discovery significantly extends its known range.

CURRENT AFFAIRS: RANKING AND INDEX

India Secures Fifth Position Globally in QS World University Rankings 2027

• India secured the fifth position globally in the QS World University Rankings 2027, with 52 Indian institutions featuring in the rankings, highlighting the country's growing academic influence, research capabilities and global reputation.
• The QS World University Rankings 2027 evaluated more than 1,500 institutions across 106 countries and territories, making it one of the world's most comprehensive higher education assessments.
• India's representation increased from 14 institutions in 2017 to 52 institutions in 2027, registering a growth of over 271% during the last decade.
• India is now the fifth most represented higher education system in the world after:
• United States – 184 institutions
• United Kingdom – 93 institutions
• China – 85 institutions
• Germany – 60 institutions
• India – 52 institutions
• The Indian Institute of Technology (IIT) Delhi emerged as the highest-ranked Indian institution, securing the 118th position globally.
• IIT Delhi retained its status as India's top-ranked institution and matched the best global ranking ever achieved by an Indian university in QS rankings.
• Other leading Indian institutions in the rankings include:
• Indian Institute of Technology (IIT) Bombay
• Indian Institute of Technology (IIT) Madras
• Indian Institute of Technology (IIT) Kharagpur
• Indian Institute of Science (IISc), Bengaluru
• These institutions have strengthened India's global academic standing through excellence in teaching, research, innovation and industry engagement.
• The global rankings continued to be dominated by universities from the United States and the United Kingdom.

Top 20 Universities in QS World University Rankings 2027

• The rankings also highlighted the growing strength of universities from Singapore, China, Hong Kong, South Korea and Japan.
• According to QS, India now possesses the third-largest research output base in the world, reflecting substantial growth in scientific publications and academic research.
• Eleven Indian universities were ranked among the world's top 100 institutions for Citations per Faculty, indicating strong research impact and academic productivity.
• Increased collaboration among academia, industry and government has contributed significantly to India's expanding research ecosystem.
• Indian institutions are also gaining greater recognition among global employers.
• Six Indian universities featured among the world's top 100 institutions for Employer Reputation, reflecting strong confidence among employers regarding the quality and employability of Indian graduates.
• The Employer Reputation indicator measures how employers perceive graduates from universities worldwide.

Performance Comparison Among Major Higher Education Systems

• India recorded one of the strongest improvement rates among major higher education systems globally.
• QS attributed India's progress to factors such as a large youth population, expanding access to higher education, increasing enrolment rates and sustained policy reforms.
• The National Education Policy (NEP) 2020 has played an important role in promoting multidisciplinary education, internationalisation, institutional reforms and research excellence.
• Growing partnerships between Indian and international universities have further enhanced academic quality and global research impact.

CURRENT AFFAIRS: SPORTS NEWS

Lionel Messi Becomes First Footballer to Play in Six FIFA World Cups

• Argentine football legend Lionel Messi became the first player in history to appear in six FIFA World Cups after featuring in Argentina’s opening match against Algeria in the FIFA World Cup 2026.
• Messi celebrated the historic milestone by scoring his first-ever FIFA World Cup hat-trick, leading Argentina to a 3–0 victory over Algeria in their Group J opener.
• The match took place exactly 20 years after Messi made his FIFA World Cup debut for Argentina in 2006.
• With this appearance, Messi surpassed all previous records for World Cup participation and became the first male footballer to feature in six editions of the tournament.
• Messi’s hat-trick took his FIFA World Cup tally to 16 goals, equalling the all-time men's FIFA World Cup scoring record held by former German striker Miroslav Klose.
• The hat-trick was the first FIFA World Cup hat-trick of Messi’s career and helped defending champions Argentina begin their title defence in impressive fashion.
• The three goals also increased Messi’s international goal tally for Argentina to 120 goals, further strengthening his status as one of football's greatest goal scorers.
• At 38 years of age, Messi became the oldest player to score a hat-trick in FIFA World Cup history.
• He also became the first player to score in five consecutive FIFA World Cup matches, highlighting his remarkable consistency on football's biggest stage.
• Messi earned his 200th international appearance for Argentina during the match against Algeria.
• The victory strengthened Argentina's position in Group J as they seek to retain the FIFA World Cup title won in 2022.

Major Records Achieved by Lionel Messi

• First footballer to play in six FIFA World Cups.
• Equalled Miroslav Klose's record of 16 FIFA World Cup goals.
• Scored his first FIFA World Cup hat-trick.
• Became the oldest player to score a FIFA World Cup hat-trick.
• Reached 120 international goals for Argentina.
• Completed 200 international appearances for Argentina.
• Became the first player to score in five consecutive FIFA World Cup matches.

CURRENT AFFAIRS: IMPORTANT DAYS

World Music Day 2026 Observed on 21 June

• World Music Day 2026 is observed across the world on 21 June to celebrate music, honor musicians and promote the universal language of music.
• The day encourages people to perform and enjoy music in public spaces, making music accessible to everyone regardless of age, background or skill level.
• World Music Day is also known as Fête de la Musique, a French term meaning "Festival of Music."
• The celebration highlights the role of music in promoting cultural exchange, creativity, harmony and social unity.
• World Music Day originated in France in 1982 under the initiative of the French Ministry of Culture.
• The event was launched through the efforts of Jack Lang, then French Minister of Culture, and Maurice Fleuret, a composer, music journalist and cultural administrator.
• Maurice Fleuret's research revealed that a large number of French youth played musical instruments, inspiring the idea of a nationwide music celebration.
• Based on this finding, it was proposed that the Summer Solstice (21 June) be celebrated as a day dedicated to music, encouraging people to come out into streets, parks and public spaces to perform and enjoy music.
• Since its inception, the celebration has expanded globally and is now observed in numerous countries around the world.
• The day promotes the participation of both professional and amateur musicians and encourages free public musical performances.

International Day of Yoga 2026 Observed on 21 June

• International Day of Yoga 2026 is observed across the world on 21 June to create awareness about the importance of yoga and its benefits for physical, mental and spiritual well-being.
• The year 2026 marks the 12th International Day of Yoga, as the first observance was held in 2015.
• Yoga is an ancient practice originating in India that promotes harmony between the mind and body and supports a healthy lifestyle.
• The proposal to observe an International Day of Yoga was introduced by Prime Minister Narendra Modi during his address to the United Nations General Assembly (UNGA) on 27 September 2014.
• On 11 December 2014, the United Nations General Assembly (UNGA) adopted a resolution proclaiming 21 June as the International Day of Yoga, with the support of 177 Member States.
• 21 June was chosen as it is the Summer Solstice, the longest day of the year in the Northern Hemisphere, and holds special significance in many cultures.
• The first International Day of Yoga was observed worldwide on 21 June 2015.
• The observance aims to encourage people to adopt yoga as a means of improving health, reducing stress and promoting overall well-being.

World Hydrography Day 2026 Observed on 21 June

• World Hydrography Day 2026 is observed across the world on 21 June to raise awareness about the importance of hydrography, safe navigation, maritime safety and conservation of the marine environment.
• The day highlights the contribution of hydrographers in mapping oceans, seas, rivers and coastal waters, which supports navigation, maritime trade, disaster management and environmental protection.
• World Hydrography Day was established by the International Hydrographic Organization (IHO) to increase public awareness about hydrography and its role in everyday life.
• The International Hydrographic Bureau (IHB) was established in 1921 to provide a platform for countries to cooperate on matters related to safe navigation, technical standards and protection of the marine environment.
• In 1970, the International Hydrographic Bureau was renamed the International Hydrographic Organization (IHO).
• In 2005, the United Nations General Assembly (UNGA) adopted a resolution designating 21 June as World Hydrography Day.
• The first international observance of World Hydrography Day was held in 2006.
• The day recognizes the efforts of hydrographers and emphasizes the critical role of hydrography in ensuring safe maritime navigation and sustainable use of ocean resources.

About International Hydrographic Organization (IHO)

• Established: 1921 (as International Hydrographic Bureau)
• Renamed as IHO: 1970
• Headquarters: Monaco

• India has been an active member of the IHO since 1955, represented nationally by the Indian Naval Hydrographic Department (INHD) based in Kolkata

Daily CA One- Liner : June 21 & 22

• The Maharashtra Cabinet has approved the establishment of the High-Energy Medical Cyclotron Project (HEMCP) in Nagpur with an estimated investment of ₹300 crore to strengthen cancer diagnosis and treatment infrastructure in Central India
• The Supreme Court of India has ruled that the right to walk on safe and demarcated footpaths is a Fundamental Right guaranteed under the Constitution of India
• Prime Minister Narendra Modi is set to lay the foundation stone of India’s first commercial-scale Coal-to-Ammonium Nitrate Project at Lakhanpur in Jharsuguda district, Odisha
• The National Highways Authority of India (NHAI) has launched Rajasthan’s first Multi-Lane Free Flow (MLFF) tolling system at Daulatpura Toll Plaza on the Delhi–Jaipur section of National Highway-48 (NH-48)
• Indian-origin theoretical physicist Jainendra Kumar Jain became the first person of Indian origin to receive the prestigious Wolf Prize in Physics.
• India secured the fifth position globally in the QS World University Rankings 2027, with 52 Indian institutions featuring in the rankings, highlighting the country's growing academic influence, research capabilities and global reputation
• Argentine football legend Lionel Messi became the first player in history to appear in six FIFA World Cups after featuring in Argentina’s opening match against Algeria in the FIFA World Cup 2026.
• The Securities and Exchange Board of India (SEBI) approved a set of market reforms aimed at improving efficiency, transparency, investor convenience, and regulatory compliance in India’s capital markets.
• The Asian Development Bank (ADB) signed a USD 10 million financing package with Schoolnet India Limited (SIL) to strengthen digital learning infrastructure in government schools across India.
• Birla Institute of Technology and Science (BITS) Pilani and Axis Bank Limited signed an agreement to establish the Axis Bank–BITS Industry Research, Technology and Innovation Park at the Hyderabad Campus, Telangana.
• India achieved a historic milestone as Shri Vivek Aggarwal was elected and appointed as the Vice-President of the Financial Action Task Force (FATF).
• The Reserve Bank of India (RBI) approved the extension of Keki Mistry’s tenure as Interim Part-Time Chairman of HDFC Bank Limited for an additional three months, valid until 18 September 2026.
• Renowned Indian jurist Bimal N. Patel has been elected as a Judge of the International Tribunal for the Law of the Sea (ITLOS) for the 2026–2035 term.
• The Appointments Committee of the Cabinet (ACC) approved the appointment of Saibal Chattopadhyay, former Director of Indian Institute of Management (IIM), Calcutta, West Bengal (WB), as the Chairperson of the National Statistical Commission (NSC) under the Ministry of Statistics and Programme Implementation (MoSPI).
• The Ministry of Defence (MoD) signed a contract with Bharat Forge Limited, Pune for the acquisition of 12 sets of 1.25 MW Marine Gas Turbine Generators for the Indian Navy.
• The Indian Navy is set to commission three indigenously built frontline warships—Dunagiri, Sanshodhak, and Agray—on 21 June 2026 in Kolkata, in a ceremony to be presided over by the Hon’ble Prime Minister.
• The Indian Cyber Crime Coordination Centre (I4C) under the Ministry of Home Affairs (MHA) launched two new digital platforms: Grievance Redressal Mechanism (GRM) and Money Restoration Module (MRM).
• Scientists from the Zoological Survey of India (ZSI) and the University of Calcutta, West Bengal discovered a new lynx spider species named Hamataliwa mawlyngot in Meghalaya.
• World Music Day 2026 is observed across the world on 21 June to celebrate music, honor musicians and promote the universal language of music
• International Day of Yoga 2026 is observed across the world on 21 June to create awareness about the importance of yoga and its benefits for physical, mental and spiritual well-being
• World Hydrography Day 2026 is observed across the world on 21 June to raise awareness about the importance of hydrography, safe navigation, maritime safety and conservation of the marine environment