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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Income Tax Department Grants Tax Deducted at Source Exemption for 17 Payment Types to Seven International Financial Services Centre Business Categories

• The Income Tax Department has granted exemption from Tax Deducted at Source (TDS) for 17 types of payments to seven business categories operating in the International Financial Services Centre (IFSC).
• The exemption is effective from July 1,2025 and is available for a 10-year period, which the unit can choose under Section 80LA, as per the Finance Ministry notification.
• The relaxation applies only to income from business in an IFSC that is approved for setting up in a Special Economic Zone (SEZ).
• The exemption is valid only for the consecutive 10 assessment years declared by the payee in Form No. 1.
• The payer is liable to deduct tax (TDS) on payments for any other years not covered by this declaration.
• Purpose of the Exemption:To support IFSC units, which are often export-oriented and hence not taxable in India

Key Highlights :

TDS Exemption Applicable To Payments For:

• Professional, consulting, or advisory fees to BATF (Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services).
• Commission incentives paid by recognised stock exchanges to broker dealers.
• Payments to finance companies for interest on lease, freight charges, or hire charges.
• Fund Management Entities for:
  • Professional or technical services fees
    
  • Interest income
    
  • Penalties levied on clearing members
    
• Recognised Depositories for similar payments.
• Recognised stock exchanges for:
  • Professional or technical services fees
    
  • Rent for data centres
    
  • Interest income

Obligations to Avail TDS Exemption:

• The payee must submit a statement-cum-declaration in Form No. 1 to the payer.
• The declaration must specify the 10 consecutive assessment years for which the deduction is claimed.
• The payer shall not deduct TDS on payments received after submission of this declaration.

Razorpay Introduces Corporate Credit Card for Startups

• RazorpayX, the business banking platform of Razorpay, has launched RazorpayX Corporate Cards in partnership with Mastercard, RBL Bank, and YES Bank.
• The card is specially designed for startups and offers:
• Credit limits up to ₹2 crore
• No collateral requirement
• No personal liability (liability rests with the card, not the founder)
• Low forex markup fee of 2.5%
• 95% of Indian startups currently lack access to institutional corporate cards, forcing founders to use personal credit cards for business expenses — risking personal credit scores and assets.
• The corporate card addresses the credit gap in India and enables startups to separate business and personal finances
• The launch comes as Razorpay prepares for a stock market listing.
• Razorpay was founded in 2014 and has raised $739 million in funding so far.

About Razorpay:

• Headquarters: Bengaluru, Karnataka, India
• CEO: Harshil Mathur
• MD: Shashank Kumar
• Subsidiaries: RazorpayX, Razorpay Capital, Curlec (Malaysia-based fintech)
  Key Products: Payment Gateway, RazorpayX (neo-banking), Razorpay Capital (lending), Subscription Payments, Payment Links

National Payments Corporation of India Unveils National Automated Clearing House 3.0 for Faster Processing of Salaries, EMIs, and SIPs   

• The National Payments Corporation of India (NPCI) will launch NACH 3.0 in the first week of July 2025 to enable faster and more secure bank transactions under the National Automated Clearing House (NACH)
• NACH 3.0 will improve processing of salaries, pensions, EMIs, and SIPs across India, streamlining recurring payments.
• NACH is a centralised system facilitating recurring transactions such as:Salary credits, Government subsidies, Loan repayments, Subscription charges

New Features and Upgrades in NACH 3.0

• Revamped graphical user interface (GUI) and improved back-end processing.
• Faster processing of credit transactions like salaries and subsidies.
• Quicker settlement of recurring debit transactions such as EMIs and SIPs.
• Enhanced dashboard for banks to monitor transaction files in real time.
• Self-service user management, allowing account creation and password reset without admin support.
• Simplified escalation process with direct updates to NPCI.

Recent News :

• In May 2025, NPCI issued two circulars giving guidelines on application programming interfaces (APIs) that aim at reducing outages in the Unified Payments Interface (UPI).

About NPCI:

• Headquarters: Mumbai, Maharashtra, India
• Founded: 2008
• CEO: Dilip Asbe
• Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay (domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled Payment System (AePS)

Reserve Bank of India issues final framework on income recognition, asset classification, and provisioning norms for project finance loans to banks and Non-banking financial companies                             

• The Reserve Bank of India (RBI) released its final framework for project finance loans, covering income recognition, asset classification, and provisioning (IRACP) norms for banks and non-banking financial companies (NBFCs).
• The final directions come over a year after the draft guidelines were issued in May 2024.
• The implementation date has been advanced from April 1, 2025, to October 1, 2025.
• The norms set rules for income recognition, asset classification, and provisioning for loans to projects under implementation.

Key Highlights :

Provisioning requirements for projects under construction:

• 1% standard asset provisioning
• For commercial real estate (CRE) projects under construction, provisioning is 1.25%
• RBI introduced a staggered provisioning structure: the provisioning percentage increases quarterly if the date of commencement of commercial operations (DCCO) is delayed.
• After the project enters the operational phase, provisioning requirements reduce:
• For standard CRE exposures: 1%
• For residential housing projects under CRE (CRE-RH): 0.75%
• For all other operational projects: 0.40%
• The tiered provisioning reflects the lower credit risk associated with operational projects.
• Projects that have already achieved financial closure before October 1, 2025, will continue under the existing asset classification and provisioning norms for seamless implementation.

Securities and Exchange Board of India Introduces Verified UPI Handles to Prevent Market Frauds and Strengthen Investor Safety                  

• The Securities and Exchange Board of India (SEBI) has launched the ‘SEBI Check’ tool to validate UPI handles and registered bank accounts to ensure secure payments by investors.
• The tool will help enhance investor protection and combat deepfakes and cyber frauds.
• Investors can use SEBI Check to verify if a UPI handle or bank account is registered before making payments.
• UPI ID authenticity can be verified by:
• Scanning a QR code, or
• Entering the UPI ID manually
• For bank account verification, investors can check:
• Bank account number
• Indian Financial System Code (IFSC) of the SEBI-registered intermediary
• The username will include:
• A readable name chosen by the intermediary
• Followed by a mandatory suffix that identifies their category (e.g., brk for Stock Broker, mf for Mutual Fund)
• A valid handle will feature:
• A unique identifier, “@valid”,
• Combined with the name of the Self-Certified Syndicate Bank
• These validated UPI handles will be exclusively allocated by the National Payments Corporation of India (NPCI) only for payment collection by SEBI-registered intermediaries.
• The SEBI Check tool will be available from October 1, 2025.
• SEBI will also coordinate with online app stores to display only validated apps for payments to protect investors from fake platforms.

Recent News :

• In May 2025, SEBI mandates a minimum ticket size of ₹1 crore for securitised debt instruments (SDIs) for both RBI-regulated and unregulated originators involved in securitisation activities.

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.

Reserve Bank of India Unveils Q4 2024-25 House Price Index Based on Data from 10 Key Cities   

• The Reserve Bank of India (RBI) released the quarterly House Price Index (HPI) for Q4: 2024-25, using transaction-level data from registration authorities in 10 major cities.
• The All-India HPI showed an annual growth of 3.1% in January-March 2025, steady with the previous quarter’s 3.1%, but lower than 4.1% a year ago.
• Annual HPI growth varied across cities, with:
• Highest growth: 8.8% in Kolkata,
• Contraction: -2.3% in Kochi.
• Cities showing a sequential rise in house prices in the latest quarter include:Bengaluru, Jaipur, Kolkata, and Chennai.
• The 10 cities covered in the index are:Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow, and Mumbai.

India Post Payments Bank Wins Digital Payments Award 2024–25 for Advancing Financial Inclusion

• India Post Payments Bank (IPPB) is a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, was conferred the Digital Payments Award 2024-25 by the Department of Financial Services (DFS), Ministry of Finance, recognizing its outstanding contribution to expanding digital payments and financial inclusion in India.
• IPPB secured 1st Position among Payments Banks in India in the Performance Index for Financial Year 2024-25.
• It also received a ‘Special Mention’ award for the Financial Year 2023-24.
• Established with the vision of driving financial inclusion at scale, IPPB has become one of the largest digital banking platforms in India.
• IPPB was launched on September 1, 2018, under the Department of Posts, Ministry of Communications, with 100% equity owned by the Government of India.
• It provides simple and affordable banking solutions through user-friendly interfaces available in 13 languages.
• IPPB serves 11 crore customers across 5.57 lakh villages and towns in India, significantly enhancing financial accessibility in rural and remote areas.

Recent News :

• In May 2025, IPPB, has formed a strategic partnership with Aditya Birla Capital Limited (ABCL), a leading diversified financial service company in India.

About IPPB:

• Founded: September 1, 2018
• Headquarters: New Delhi, India
• MD & CEO : Mr. R. Viswesvaran
• Tagline: "Aapka Bank, Aapke Dwaar" (Your Bank at Your Doorstep)

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Government Launches NAVYA to Empower Adolescent Girls with Vocational Skills

• In alignment with the Viksit Bharat@2047 vision, the Government of India has launched NAVYA (Nurturing Aspirations through Vocational Training for Young Adolescent Girls), in Sonbhadra, Uttar Pradesh.
• This pilot initiative, jointly led by the Ministry of Women and Child Development (MWCD) and the Ministry of Skill Development and Entrepreneurship (MSDE), focuses on skilling adolescent girls, especially in non-traditional sectors.

Key Highlights :

• Target Group: Adolescent girls aged 16–18 years with minimum Class 10 qualification.
• Primary Objective: Provide vocational training in non-traditional job roles to promote economic independence and confidence among young girls.
• Institutional Collaboration: Formal collaboration between MWCD and MSDE to support skill-building under a unified framework.
• Implementation Plan:
  • Pilot to be rolled out in 27 districts across 19 states, including Aspirational and North-Eastern districts.
  • Training will be provided through Pradhan Mantri Kaushal Vikas Yojana (PMKVY) and PM Vishwakarma scheme.
  • Launch event includes distribution of training certificates and interactions with trainees.

RECENT NEWS

• Uttar Pradesh has emerged as a national leader in digital public procurement, having recorded a staggering ₹65,227.68 crore in orders through the Government e-Marketplace (GeM) from FY 2020–21 to FY 2024–25.

About UP:

• Capital: Lucknow
• Chief minister: Yogi Adityanath
• Governor: Anandiben Patel

India to Launch First All-India Household Income Survey in 2026

• The Ministry of Statistics and Programme Implementation (MoSPI) has announced that it will conduct the first-ever nationwide Household Income Survey in 2026, guided by a Technical Expert Group (TEG) chaired by Surjit Bhalla, former IMF Executive Director.
• This landmark initiative aims to fill critical data gaps in income distribution, wage patterns, and technology’s impact on earnings.

Key Highlights :

• First Dedicated Income Survey: India’s first all-India household income survey will capture accurate income data across wage, self-employment, remittances, and digital earnings.
• Technical Oversight by TEG: A Technical Expert Group, led by Surjit Bhalla, will advise on survey design, sampling, estimation methods, and global best practices.
• Objectives:
  • Map income distribution patterns nationwide
  • Assess technology adoption’s effect on wages
  • Target welfare schemes more accurately using reliable income data
  • Align with international standards (e.g., US, Canada, South Africa, Australia)

Indian Railways Launches ₹1 Crore Accident Compensation Scheme for Employees Without Premium

• In a major welfare initiative, Indian Railways has introduced a scheme offering ₹1 crore accident compensation to its employees, without requiring any insurance premium.
• The benefit is accessible through Salary Package Accounts with partner banks and aims to enhance the financial security of railway personnel.

Key Highlights :

• No Premium Required: Employees are not required to pay any premium to avail the benefit.
• Salary Package Account Mandatory: Compensation is applicable only if the employee’s salary account is registered as a “Salary Package Account” with a partner bank (e.g., SBI).
• Coverage Scope: The ₹1 crore compensation is applicable regardless of the location of the accident—on duty, off duty, or outside the workplace.
• Bank Partnership: Indian Railways has tied up with major banks for the disbursement of claims directly to the nominee in case of accidental death.
• First Payout Case: The first compensation was awarded to the family of Sushil Lal, a loco pilot from Moradabad division, who died in March 2025. His wife received the ₹1 crore cheque from Northern Railway officials in Delhi.
• Quick Claim Settlement: SBI processed the claim promptly, ensuring timely financial support to the deceased employee’s family.
• Awareness Campaign: Indian Railways will conduct awareness drives through:
  • Posters at railway stations and offices
  • Support from major railway unions such as AIRF and NFIR
• Objective: To ensure maximum employee coverage and secure the families of railway staff against accidental loss.

RECENT NEWS

• Indian Railways signed an important agreement with the Delhi Metro Rail Cooperation (DMRC). The goal is to install smart machines called Automatic Wheel Profile Measurement Systems (AWPMS) to check train wheels quickly and safely.

Uttar Pradesh, Gujarat Among Top Contributors to ₹10.2 Lakh Crore State Capex Drive in FY26

• India is set for a major state-led infrastructure expansion in FY26, with Uttar Pradesh, Gujarat, Maharashtra, Madhya Pradesh, and Karnataka projected to contribute nearly 50% of the ₹10.2 lakh crore capital outlay.
• The findings were detailed in a Bank of Baroda report, highlighting a sharp increase in state capital expenditure compared to FY25.

Key Highlights :

• Capex Surge in FY26: Total state capital outlay expected to rise from ₹8.7 lakh crore in FY25 to ₹10.2 lakh crore, marking a robust increase in infrastructure investment.
• Top 5 State Contributors:
  • Uttar Pradesh: 16.3%
  • Gujarat: 9.4%
  • Maharashtra: 8.3%
  • Madhya Pradesh: 8.1%
  • Karnataka: 6.7%
  • Combined share: ~48.8% of total capex.
• Objective of Capex Expansion: Focus on long-term asset creation in roads, healthcare, education, irrigation, and other critical infrastructure to boost productivity and job creation.
• Comparative FY25 Capex Data:
  • UP (16.9%), Maharashtra (10.9%), Gujarat (8.1%), MP (7.5%), and Odisha (6.4%)—Odisha drops out of top 5 in FY26.
• Receipts Outlook for FY26:
  • Total receipts: ₹69.4 lakh crore (↑10.6% YoY)
  • Revenue receipts: ↑12.3%
  • Capital receipts: ↑6.6%
• Top Revenue Contributors:
  • Uttar Pradesh: 13.3%
  • Maharashtra: 11.3%
  • MP, Karnataka, Rajasthan: ~5.9% each
  • Tamil Nadu’s share expected to dip slightly.
• Fiscal Prudence Indicators:
  • 12 states to keep fiscal deficit below historical medians
  • 13 states to post revenue surplus in FY26

Assam Grants OBC Status to Transgender Community and 50% Reservation for Anganwadi Supervisors

• The Assam government, led by Chief Minister Himanta Biswa Sarma, announced that the transgender community will be classified as Other Backward Class (OBC), and Anganwadi workers will receive 50% reservation in supervisory positions under the Women and Child Development Department.

Key Highlights :

• OBC Classification for Transgender Community: Ensures reservation in education and employment, and access to OBC welfare schemes, marking Assam’s first state-level recognition of transgender rights.
• 50% Reservation for Anganwadi Workers: Applies to ICDS supervisory roles, institutionalizing their contributions to nutrition and early childhood care and enabling career progression.
• Inclusive Policy Shift: Addresses historical marginalization of transgender individuals and career stagnation among grassroots Anganwadi workers.

RECENT NEWS

• Assam has stepped into a new era of digital governance with the launch of ‘Ankita’, an Artificial Intelligence-powered news anchor introduced by Chief Minister Himanta Biswa Sarma. Designed to present cabinet meeting highlights in Assamese, Ankita marks a first-of-its-kind initiative in the state, drawing attention to the growing role of AI in Indian public communication.

Tripura Becomes Third Indian State to Achieve Full Functional Literacy under ULLAS Programme

• Tripura has been officially declared as the third fully functionally literate state in India, following Mizoram and Goa, under the ULLAS – New India Literacy Programme.
• The announcement was made, at a ceremony in Agartala, attended by Chief Minister Prof. (Dr.) Manik Saha and senior officials from the Ministry of Education.

Key Highlights:

• Recognition under ULLAS Programme: Tripura achieved full functional literacy (95% literacy among individuals aged 15+) under the centrally sponsored ULLAS scheme, launched in 2022.
• Part of Viksit Bharat @2047 Vision: The milestone contributes to India’s long-term goal of a developed and literate society through Jan Bhagidari (people’s participation).
• Background Progress: Tripura’s literacy rate rose from 20.24% in 1961 to 95.6% in 2025, reflecting decades of consistent efforts by the government and communities.

About ULLAS:

• The Government of India has launched a new scheme called ULLAS (Understanding of Lifelong Learning for All in Society) for the years 2022 to 2027.
• It aims to provide basic education (like reading, writing, and numbers) to non-literate people aged 15 years and above across all states and union territories.
• The target is to teach 5 crore people in five years — 1 crore every year.
• Learning will be done online through a system called OTLAS (Online Teaching, Learning and Assessment System).
• This system is being developed with help from NIC, NCERT, and NIOS.
• The total cost of the scheme is ₹1037.90 crore, with ₹700 crore from the Centre and ₹337.90 crore from the States.

RECENT NEWS

• In a significant step toward enhancing agricultural productivity and farmer welfare, the Tripura government has announced the launch of the “Viksit Krishi Sankalp Abhiyan” from May 29 to June 12, 2025.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Indian Farmers Fertiliser Cooperative to Establish First Overseas Nano-Fertiliser Plant in Brazil, Four Years After Nano Urea Launch in India

• IFFCO (Indian Farmers Fertiliser Cooperative) is setting up its first overseas nano-fertiliser plant in Brazil, four years after launching nano urea in India.
• The plant will be established through a 7:3 joint venture between IFFCO Nanoventions and Brazilian firm NANOFERT.
• The Brazil facility, located in Paraná province, is expected to produce 4.5 million litres of nano-fertilisers annually.
• IFFCO has already exported 0.5 million bottles (500 ml each) of nano fertilisers to 40+ countries, including the US, Brazil, Slovenia, Mauritius, Zambia, Nepal, and Bangladesh.
• IFFCO’s current manufacturing capacity:5 million bottles annually (500 ml each)
• Sales in FY25:
• 26.5 million bottles of nano urea plus – 31% increase over FY24
• 9.7 million bottles of nano-DAP – 118% increase over FY24
• Trial production in Brazil is scheduled to begin by the end of 2025.

Benefits observed in Brazil:

• 20% reduction in urea and DAP usage
• 10% increase in corn and soybean yield
• 7% increase in sugarcane productivity
• The project aims to improve productivity of major crops like corn, soybean, sugarcane, and coffee.

About IFFCO :

• Founded : 3 November 1967
• Headquarters : New Delhi, india
• MD : U S Awasthi

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Kirsty Coventry Becomes First Female President of the International Olympic Committee   

• Kirsty Coventry became the first female and first African president of the International Olympic Committee (IOC).
• She was inaugurated on June 23, 2025, which is the IOC’s 131st birthday.
• Coventry is a two-time Olympic gold medallist in swimming from Zimbabwe.
• She won a seven-candidate election in March 2025 to succeed Thomas Bach as IOC president.
• She is 41 years old at the time of taking office.
• Thomas Bach, the outgoing president, served the maximum 12-year term and handed over the symbolic key to Coventry.
• The inauguration ceremony took place at the Olympic House gardens, in a temporary building designed like the Grand Palais, Paris.
• Coventry plans to lead the IOC for the next eight years, including overseeing the 2028 Summer Olympics in Los Angeles.
• Her first day in office involved a closed-door session with about 100 IOC members, including heads of state, business leaders, Olympic athletes, and sports officials.
• Nita Ambani, an influential IOC member from India, was noted for standing close to Coventry; India aims to host the 2036 Olympics.
• A key early task for Coventry will be the selection of the host city for future Olympics, with Asia favored and Middle Eastern countries like Qatar and Saudi Arabia preparing bids.
• The new president will work with IOC vice presidents such as Juan Antonio Samaranch during her term.

About IOC :

• Headquarters: Lausanne, Switzerland
• Director General: Christophe De Kepper
• Founded: 23 June 1894, Paris, France

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Bharti Space Limited plans ₹313 crore investment in Eutelsat satellite firm                     

• Bharti Space Limited, a subsidiary of Bharti Enterprises, will invest €31.4 million (₹312.8 crore) in the French satellite operator Eutelsat.
• Eutelsat plans to raise €1.35 billion (₹13,452 crore) through a mix of investors including the French State, CMA CGM, and FSP.
• The capital raise involves a reserved capital increase of €716 million (₹7,134 crore) at a price per share of €4, a 32% premium, and a Rights Issue of €634 million (₹6,317 crore).
• Completion of these transactions is expected by the end of 2025.
• Post-investment, Bharti Space’s shareholding will decrease from 24% to 18.70%.
• Other major shareholders include the French State (29.99%), CMA CGM (7.81%), and FSP (5.22%).
• Investors involved in the Reserved Capital Increase will not have the ability to launch a public takeover.

Key Highlights :

• Eutelsat is one of only two global operators with active commercial Low Earth Orbit (LEO) satellite fleets and is the only one focused exclusively on B2B (Business to Business) and B2G (Business to Government) markets.
• After acquiring OneWeb, Eutelsat expanded its coverage, expected to be complete by the end of 2026.
• Eutelsat has secured regulatory approvals in multiple markets, developed a strong distribution network, and maintains a €3.7 billion revenue backlog, mainly from Connectivity services.
• Eutelsat is the only European operator with a fully operational LEO network.
• It plays a strategic role in critical sectors such as military communications, cyber-resilience, and secure government connectivity.
• Eutelsat’s operations are aligned with the European Union and NATO objectives for strategic autonomy.
• CEO of Eutelsat Group : Jean-François Fallache
• Founder & Chairman, Bharti Enterprises & Co-Chairman Eutelsat Group : Sunil Bharti Mittal

CURRENT AFFAIRS: RANKING AND INDEX

India Breaks into Top 100 of UN Sustainable Development Goals (SDG) Index 2025, Ranks 99th Globally

• In a significant achievement for sustainable development, India has entered the top 100 of the UN Sustainable Development Goals (SDG) Index for the first time, securing the 99th rank out of 193 countries in the 2025 edition of the UN Sustainable Development Report, published by the UN Sustainable Development Solutions Network (SDSN) and led by economist Jeffrey Sachs.

Key Highlights :

• India’s 2025 Rank and Score:
  • Rank: 99th
  • Score: 67.0 out of 100
  • Represents India’s best-ever performance on the SDG Index
• Why in News:
  • Released ahead of the 4th International Conference on Financing for Development (FfD4) in Seville
  • Reflects India’s progress in healthcare, education, infrastructure, and digital access, despite global SDG slowdowns
• Background on the SDG Index:
  • Based on progress toward 17 Sustainable Development Goals (SDGs) adopted in 2015 for achievement by 2030
  • Evaluates nations on indicators like poverty, health, education, inequality, and environment
• India’s Strengths:
  • Notable progress in SDG 3 (Good Health), SDG 7 (Clean Energy), and SDG 9 (Industry & Digital Infrastructure)
  • Improvements in basic infrastructure and digital inclusion
• Neighbouring Country Rankings (2025):
  • China: 49th
  • Bhutan: 74th
  • Nepal: 85th
  • Sri Lanka: 93rd
  • Bangladesh: 114th
• Global Trends in SDG Performance:
  • Top 3 Countries: Finland, Sweden, Denmark
  • Only 17% of global SDG targets are on track for 2030
  • Reversals observed in:
    • Obesity (SDG 2)
    • Press Freedom (SDG 16)
    • Red List Index for biodiversity (SDG 15)
    • Corruption Perception (SDG 16)

Global Peace Index 2025: India Rises to Rank 115 Amid Global Peace Decline

• The Global Peace Index (GPI) 2025, released by the Institute for Economics and Peace (IEP), assesses the state of peace in 163 countries, covering 99.7% of the global population. In its 19th edition, the index highlights a continuing decline in global peace, but India has shown slight improvement, moving up to Rank 115.

Key Highlights :

• What is GPI?
  • A composite index based on 23 indicators across three domains:
    1. Societal Safety and Security
    2. Ongoing Domestic and International Conflict
    3. Degree of Militarisation
  • Published by: Institute for Economics and Peace (IEP), a non-partisan think tank based in Sydney
• India’s Performance in 2025:
  • Rank: 115 out of 163 countries
  • Score: 2.229
  • Improvement: India improved from Rank 116 in 2024 and Rank 126 in 2023
• Global Trends in 2025:
  • Global peacefulness declined by 0.36% from 2024
  • 87 countries recorded deterioration; 74 countries improved
  • 13th decline in peace in the past 17 years
  • 59 active state-based conflicts, highest since WWII
  • 152,000 deaths reported in 2024 due to conflict
• Economic Cost of Violence (2024):
  • Estimated at $19.97 trillion
  • 11.6% of global GDP
  • Includes spending on war, internal security, military, and policing
• Top 10 Most Peaceful Countries (2025):

1. Iceland – Score: 1.095
2. Ireland – 1.260
3. New Zealand – 1.282
4. Austria – 1.294
5. Switzerland – 1.294

Bottom 5 Least Peaceful Countries (2025):

163. Russia – Score: 3.441
     162. Ukraine – 3.434
     161. Sudan – 3.323
     160. Democratic Republic of Congo – 3.292
     159. Yemen – 3.262

CURRENT AFFAIRS: SPORTS NEWS

Rishabh Pant Joins Elite Wicketkeepers with Twin Centuries at Headingley

• In the June 2025 Headingley Test against England, wicketkeeper-batsman Rishabh Pant delivered a match-defining performance, scoring 134 in the first innings and 118 in the second, becoming only the second keeper ever to hit centuries in both innings of a Test match.

Key Highlights :

• Twin Centuries (134 & 118): Pant’s 252 runs in the match mark the highest aggregate by an Indian wicketkeeper in a Test.
• Elite Company: He is the second wicketkeeper after Andy Flower (2001) to score hundreds in both innings.
• First by an Indian in England: No other Indian batter had ever recorded twin Test centuries on English soil.
• Team Milestone: His efforts helped India register five individual centuries in a single Test for the first time in their history.
• Historic Aggregate: Pant’s 252-run match aggregate ranks as the fourth-highest by any wicketkeeper in Test cricket.
• Career Landmark: This was Pant’s eighth Test century, equaling England legend Les Ames, and brought his tally of Test centuries in England to four, matching Alec Stewart and Matt Prior.
• Powerplay Feat: He struck nine sixes at Headingley, equaling the record for the most sixes in a Test innings in England

Lalit Upadhyay Announces Retirement from International Hockey After Decorated Career

• Lalit Kumar Upadhyay, a key forward and two-time Olympic bronze medalist, has announced his retirement from international hockey following India’s 4–3 win over Belgium in the FIH Pro League.
• His career is celebrated for its blend of resilience, skill, and contribution to the revival of Indian hockey.

Key Highlights :

• Olympic Achievements: Won bronze medals at Tokyo 2020 and Paris 2024, playing a pivotal role in India’s Olympic resurgence.
• International Record: Represented India in 179+ matches, scoring 40+ goals across major international tournaments.
• Asian Titles: Secured gold at the 2016 & 2018 Asian Champions Trophy, gold at the 2017 Asia Cup, and medals in Champions Trophy and Hockey World League Final.
• Early Struggles and Comeback: Originating from Varanasi, Uttar Pradesh, faced a career setback due to a sting operation in 2008, but made a strong comeback with support from Air India, BPCL, and mentors like Dhanraj Pillay.
• Awards and Recognition: Received the Arjuna Award in 2021, appointed Deputy Superintendent of Police (DSP) by the Uttar Pradesh government, and represented Kalinga Lancers in the Hockey India League.

CURRENT AFFAIRS : OBITUARIES

Former Indian Spinner Dilip Doshi Passed away                          

• Former India cricketer Dilip Doshi passed away at the age of 77 due to cardiac arrest in London.
• Doshi was a left-arm spinner with a classical bowling action.
• He represented India in 33 Test matches and 15 One Day Internationals (ODIs) from 1979 to 1983.
• Doshi took 114 wickets in Tests and 22 wickets in ODIs.
• He made his international debut during the First Test of Australia’s tour of India in 1979, held in Chennai.
• Doshi is among only nine Indian male cricketers to take a five-wicket haul (five-for) on Test debut.
• In domestic cricket, he played First-Class cricket for Saurashtra and Bengal.
• He also played County Cricket in England for Nottinghamshire and Warwickshire.
• Over his entire First-Class career, Doshi took a total of 898 wickets.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Women in Diplomacy - June 24

• The International Day of Women in Diplomacy (IDWD), established by UNGA Resolution A/RES/76/269 in 2022, is observed every June 24 to recognize women’s vital contributions to diplomacy and advocate for gender equality in foreign policy, peace processes, and global governance.

Key Highlights :

• 2025 Theme – “Eliminating Structural Barriers to Women’s Leadership in Diplomacy”: Calls for institutional reforms such as gender-balanced foreign ministries, anti-harassment and mentoring programs, ambassadorial quotas, and the eradication of patriarchal norms.
• Origins & Proclamation: First proclaimed on 20 June 2022 during the 76th UNGA session and first observed on 24 June 2023.
• Founding Support: Launched by the United Nations with backing from member states and women-led diplomatic associations.
• Historical Context: Diplomacy was long dominated by men; women diplomats and negotiators have only recently begun to reshape global decision-making.
• Current Gender Gap: As of January 2025, only 25 countries are led by a female head of state or government, and women occupy just 22.9% of global cabinet positions.

Daily CA One- Liner: June 25

• In alignment with the Viksit Bharat@2047 vision, the Government of India has launched NAVYA (Nurturing Aspirations through Vocational Training for Young Adolescent Girls), in Sonbhadra, Uttar Pradesh
• The Ministry of Statistics and Programme Implementation (MoSPI) has announced that it will conduct the first-ever nationwide Household Income Survey in 2026, guided by a Technical Expert Group (TEG) chaired by Surjit Bhalla, former IMF Executive Director
• In a major welfare initiative, Indian Railways has introduced a scheme offering ₹1 crore accident compensation to its employees, without requiring any insurance premium
• India is set for a major state-led infrastructure expansion in FY26, with Uttar Pradesh, Gujarat, Maharashtra, Madhya Pradesh, and Karnataka projected to contribute nearly 50% of the ₹10.2 lakh crore capital outlay
• The Assam government, led by Chief Minister Himanta Biswa Sarma, announced that the transgender community will be classified as Other Backward Class (OBC), and Anganwadi workers will receive 50% reservation in supervisory positions under the Women and Child Development Department.
• Tripura has been officially declared as the third fully functionally literate state in India, following Mizoram and Goa, under the ULLAS – New India Literacy Programme
• In a significant achievement for sustainable development, India has entered the top 100 of the UN Sustainable Development Goals (SDG) Index for the first time, securing the 99th rank out of 193 countries in the 2025 edition of the UN Sustainable Development Report, published by the UN Sustainable Development Solutions Network (SDSN) and led by economist Jeffrey Sachs
• The Global Peace Index (GPI) 2025, released by the Institute for Economics and Peace (IEP), assesses the state of peace in 163 countries, covering 7% of the global population. In its 19th edition, the index highlights a continuing decline in global peace, but India has shown slight improvement, moving up to Rank 115.
• In the June 2025 Headingley Test against England, wicketkeeper-batsman Rishabh Pant delivered a match-defining performance, scoring 134 in the first innings and 118 in the second, becoming only the second keeper ever to hit centuries in both innings of a Test match
• Lalit Kumar Upadhyay, a key forward and two-time Olympic bronze medalist, has announced his retirement from international hockey following India’s 4–3 win over Belgium in the FIH Pro League
• The International Day of Women in Diplomacy (IDWD), established by UNGA Resolution A/RES/76/269 in 2022, is observed every June 24 to recognize women’s vital contributions to diplomacy and advocate for gender equality in foreign policy, peace processes, and global governance.
• The Income Tax Department has granted exemption from Tax Deducted at Source (TDS) for 17 types of payments to seven business categories operating in the International Financial Services Centre (IFSC).
• RazorpayX, the business banking platform of Razorpay, has launched RazorpayX Corporate Cards in partnership with Mastercard, RBL Bank, and YES Bank.
• The National Payments Corporation of India (NPCI) will launch NACH 3.0 in the first week of July 2025 to enable faster and more secure bank transactions under the National Automated Clearing House (NACH)
• The Reserve Bank of India (RBI) released its final framework for project finance loans, covering income recognition, asset classification, and provisioning (IRACP) norms for banks and non-banking financial companies (NBFCs).
• The Securities and Exchange Board of India (SEBI) has launched the ‘SEBI Check’ tool to validate UPI handles and registered bank accounts to ensure secure payments by investors.
• The Reserve Bank of India (RBI) released the quarterly House Price Index (HPI) for Q4: 2024-25, using transaction-level data from registration authorities in 10 major cities.
• India Post Payments Bank (IPPB) is a 100% Government of India-owned entity under the Department of Posts, Ministry of Communications, was conferred the Digital Payments Award 2024-25 by the Department of Financial Services (DFS), Ministry of Finance, recognizing its outstanding contribution to expanding digital payments and financial inclusion in India.
• IFFCO (Indian Farmers Fertiliser Cooperative) is setting up its first overseas nano-fertiliser plant in Brazil, four years after launching nano urea in India.
• Kirsty Coventry became the first female and first African president of the International Olympic Committee (IOC).
• Bharti Space Limited, a subsidiary of Bharti Enterprises, will invest €31.4 million (₹312.8 crore) in the French satellite operator Eutelsat.
• Former India cricketer Dilip Doshi passed away at the age of 77 due to cardiac arrest in London.