Banking, Finance & Business

RBI Imposes ₹1.50 Crore Penalty on ICICI Bank

Key Highlight: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.50 crore on ICICI Bank on 15 June 2026 for non-compliance with certain directions.

• The penalty was issued under the provisions of Section 47A(1)(c) of the Banking Regulation Act, 1949.
• The bank failed to comply with the RBI's directions on 'Loans and Advances – Statutory and Other Restrictions'.
• The inspection revealed that the bank sanctioned term loans to certain entities in lieu of or to substitute budgetary resources without due diligence.

About Reserve Bank of India (RBI)

• Established: 1 April 1935
• Headquarters: Mumbai, Maharashtra
• Governor: Shaktikanta Das

SBI Raises $750 Million through Green Bonds

Key Highlight: The State Bank of India (SBI) has successfully raised $750 million through the issuance of Green Bonds to fund environment-friendly projects.

• The bonds are part of the bank's $10 billion medium-term note program.
• The funds will be utilized to support Renewable Energy projects and low-carbon transport initiatives across India.
• The Green Bonds were listed on the India International Exchange (India INX) at GIFT City.

National & State News

PM Launches Phase 2 of PM Surya Ghar: Muft Bijli Yojana

Key Highlight: Prime Minister Narendra Modi launched the second phase of the PM Surya Ghar: Muft Bijli Yojana on 15 June 2026 in New Delhi.

• The scheme aims to provide free electricity up to 300 units per month to 1.5 crore households.
• The government has allocated an additional ₹85,000 crore for this phase to enhance rooftop solar adoption.
• The initiative is expected to reduce India's carbon footprint by 40 million tonnes annually.

India-ASEAN Digital Summit 2026 Commences in Hyderabad

Key Highlight: The India-ASEAN Digital Summit 2026 began in Hyderabad on 15 June 2026, focusing on Artificial Intelligence (AI) and Cybersecurity.

• The summit is attended by digital ministers from all 10 ASEAN member nations.
• Discussions focus on the India-ASEAN Digital Work Plan 2026 for capacity building in 5G and 6G technologies.
• A memorandum of understanding was signed to establish a Regional AI Center of Excellence in Bengaluru.

Maharashtra Government Launches 'Digital Twin' Project for Mumbai

Key Highlight: The Government of Maharashtra has launched a 'Digital Twin' project to create a 3D virtual replica of Mumbai for better urban planning.

• The project uses LiDAR technology and geospatial mapping to monitor infrastructure and traffic in real-time.
• Mumbai becomes the first Indian city to implement a full-scale digital twin for disaster management.
• The project is being executed in collaboration with the Brihanmumbai Municipal Corporation (BMC).

Kerala Unveils 'Health Policy 2026' focusing on Elderly Care

Key Highlight: The Kerala Government has introduced its Health Policy 2026, prioritizing geriatric care and mental health services at the grassroots level.

• The policy mandates the setting up of Elderly Care Hubs in every district.
• It includes a ₹500 crore fund for the prevention of lifestyle diseases like diabetes and hypertension.
• The policy aims to increase the average life expectancy in the state to 78 years by 2030.

Awards & Honours

Dr. Soumya Swaminathan Receives 2026 World Food Prize

Key Highlight: Former WHO Chief Scientist Dr. Soumya Swaminathan has been awarded the prestigious 2026 World Food Prize.

• She is recognized for her leadership in global health and promoting Climate-Resilient Agriculture.
• The award includes a cash prize of $250,000 and a trophy.
• The ceremony took place in Des Moines, Iowa, celebrating her contributions to food security during the pandemic.

Appointments & Resignations

Madhabi Puri Buch Reappointed as SEBI Chairperson

Key Highlight: The Appointments Committee of the Cabinet (ACC) has approved the reappointment of Madhabi Puri Buch as the Chairperson of SEBI for another term.

• She was first appointed as the head of the Securities and Exchange Board of India (SEBI) in 2022.
• She is the first woman and the first person from the private sector to lead the market regulator.
• Her new term will extend for another two years starting from June 2026.

About SEBI

• Established: 12 April 1992
• Headquarters: Mumbai
• Chairperson: Madhabi Puri Buch

Lt Gen Daljit Singh Appointed as Director General of BSF

Key Highlight: Lt Gen Daljit Singh has been appointed as the new Director General of the Border Security Force (BSF) on 15 June 2026.

• He succeeds Nitin Agrawal, who retired from the post earlier this month.
• Lt Gen Daljit Singh previously served as the Director General of Medical Services (Army).
• The BSF is responsible for guarding India's borders with Pakistan and Bangladesh.

Defence News

DRDO Successfully Tests Rudram-II Anti-Radiation Missile

Key Highlight: The Defence Research and Development Organisation (DRDO) successfully flight-tested the Rudram-II missile from a Su-30 MKI fighter jet.

• The test was conducted off the coast of Odisha at the Integrated Test Range (ITR).
• Rudram-II is an indigenously developed air-to-surface anti-radiation missile designed to neutralize enemy radar and communication sites.
• The missile has a strike range of approximately 300 kilometers.

About DRDO

• Established: 1958
• Headquarters: New Delhi
• Chairman: Dr. Samir V. Kamat

India-Mongolia Joint Exercise 'Nomadic Elephant 2026' Begins

Key Highlight: The 21st edition of the joint military exercise 'Nomadic Elephant 2026' between India and Mongolia commenced on 15 June 2026.

• The exercise is being held at the Foreign Training Node in Bakloh, Himachal Pradesh.
• It focuses on counter-terrorism operations in mountainous terrain under UN mandate.
• The Indian contingent is represented by the Gorkha Rifles.

Science & Technology

ISRO to Launch XPoSat-2 Mission in July 2026

Key Highlight: The Indian Space Research Organisation (ISRO) announced that the XPoSat-2 (X-ray Polarimeter Satellite-2) mission is scheduled for launch in July 2026.

• The mission aims to study the polarization of cosmic X-rays from bright celestial sources like black holes and neutron stars.
• It will be launched using the PSLV-C60 rocket from the Satish Dhawan Space Centre (SDSC) in Sriharikota.
• XPoSat-2 will carry improved payloads developed by the Raman Research Institute (RRI).

Rankings & Index

India Ranks 38th in 2026 World Talent Ranking

Key Highlight: India has secured the 38th rank in the 2026 World Talent Ranking released by the International Institute for Management Development (IMD).

• India improved its position by 4 places compared to 2025, driven by improvements in education and workplace training.
• Switzerland topped the ranking, followed by Luxembourg and Iceland.
• The ranking measures how economies develop, attract, and retain talent to increase competitiveness.

Sports

Carlos Alcaraz Wins French Open 2026 Men's Singles Title

Key Highlight: Carlos Alcaraz of Spain clinched the French Open 2026 men's singles title on 14 June 2026.

• He defeated Jannik Sinner in a thrilling five-set final at Roland Garros.
• This is Alcaraz's second French Open title and his sixth Grand Slam title overall.
• With this win, Alcaraz reclaimed the World No. 1 spot in the ATP Rankings.

India Advances to Super 8s in ICC Men's T20 World Cup 2026

Key Highlight: The Indian Cricket Team has qualified for the Super 8 stage of the ICC Men's T20 World Cup 2026 after defeating Ireland.

• The tournament is being co-hosted by India and Sri Lanka.
• Hardik Pandya was named Player of the Match for his all-round performance (3 wickets and 45 runs).
• The Super 8 matches are scheduled to begin on 19 June 2026 across venues in India.

International News

G7 Leaders Commit to $600 Billion Infrastructure Plan

Key Highlight: Leaders of the G7 nations, during their summit in Italy, committed to mobilizing $600 billion for global infrastructure projects by 2027.

• The initiative, known as the Partnership for Global Infrastructure and Investment (PGII), aims to counter China's Belt and Road Initiative.
• The funds will focus on clean energy, digital connectivity, and health infrastructure in developing countries.
• PM Narendra Modi attended the summit as an outreach partner.

United Nations Adopts Resolution on AI Safety

Key Highlight: The United Nations General Assembly (UNGA) has adopted a landmark resolution on Artificial Intelligence (AI) Safety on 15 June 2026.

• The resolution was co-sponsored by 120 nations, including India and the USA.
• It calls for the development of international standards to ensure AI is safe, secure, and trustworthy.
• The resolution emphasizes that AI should be used to bridge the digital divide rather than widen it.

Obituaries

Legendary Classical Singer Pandit Vishwa Mohan Bhatt Passes Away

Key Highlight: Renowned Mohan Veena player and Grammy winner Pandit Vishwa Mohan Bhatt passed away on 15 June 2026 at the age of 75.

• He was the creator of the Mohan Veena, a modified slide guitar used in Indian Classical Music.
• He received the Grammy Award in 1994 for his album 'A Meeting by the River'.
• The Government of India had honored him with the Padma Bhushan in 2017.