Banking, Finance & Business

RBI Monetary Policy Committee Maintains Repo Rate at 6.5%

Key Highlight: The Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged at 6.50% on 17 June 2026.

• The decision was made with a 4:2 majority to ensure inflation aligns with the target.
• Standing Deposit Facility (SDF) rate remains at 6.25% and Marginal Standing Facility (MSF) at 6.75%.
• The real GDP growth for FY27 is projected at 7.2%.

About RBI

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

SEBI Launches Saa₹thi 2.0 Mobile App for Investors

Key Highlight: The Securities and Exchange Board of India (SEBI) launched the Saa₹thi 2.0 mobile app to provide comprehensive tools for personal finance management.

• The app includes calculators to explain compound interest and market risks.
• It aims to simplify complex KYC processes and investor grievance redressal mechanisms.
• Available in 13 regional languages to enhance financial literacy across India.

HDFC Bank Launches 'Xpress Car Loan' for Digital Lending

Key Highlight: HDFC Bank introduced an end-to-end digital Xpress Car Loan facility offering instant disbursal of loans up to ₹25 lakh.

• The process is completely paperless and available for both existing and new customers.
• Loan approvals are processed within 30 minutes based on credit score analysis.
• The bank partnered with martech firms to integrate dealer inventories into the app.

National & State News

PM Narendra Modi Inaugurates New Campus of Nalanda University

Key Highlight: Prime Minister Narendra Modi inaugurated the new campus of Nalanda University at Rajgir, Bihar on 17 June 2026.

• The campus is a 'Net Zero' green campus spread over 455 acres.
• Representatives from 17 participating countries attended the ceremony.
• The project is a collaborative effort between India and East Asia Summit (EAS) nations.

World’s Highest Railway Bridge Over Chenab River Opens for Passenger Traffic

Key Highlight: The Chenab Bridge in Jammu & Kashmir, standing 359 metres above the river bed, commenced full passenger train operations.

• It is part of the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project.
• The bridge is 35 metres taller than the Eiffel Tower.
• It is designed to withstand earthquakes of magnitude 8 on the Richter scale.

Maharashtra Government Launches 'Mazi Ladki Bahin' Yojana

Key Highlight: The Maharashtra Government announced the Mazi Ladki Bahin Yojana to provide financial assistance of ₹1,500 per month to underprivileged women.

• Women aged between 21 and 60 years with a family income below ₹2.5 lakh are eligible.
• The scheme aims to improve the socio-economic status of women in the state.
• Initial budgetary allocation for the scheme is ₹46,000 crore.

NHAI to Develop 10,000 km of Digital Highways by 2026

Key Highlight: The National Highways Authority of India (NHAI) announced the completion of the first phase of Digital Highways covering 2,500 km.

• Integrated Optical Fibre Cables (OFC) are being laid along the Delhi-Mumbai Expressway.
• The project facilitates the rollout of 5G networks and automated tolling.
• It aims to provide high-speed data connectivity to remote regions along highways.

International News

G7 Summit 2026 Concludes in Fasano, Italy

Key Highlight: The 52nd G7 Summit concluded in Fasano, Italy, with a focus on Artificial Intelligence and Global Infrastructure.

• Leaders agreed on a Code of Conduct for safe and secure AI development.
• A $50 billion loan package for Ukraine was finalized using frozen Russian assets.
• India was invited as an 'Outreach Country' for the 12th consecutive time.

Thailand Becomes First Southeast Asian Country to Legalize Same-Sex Marriage

Key Highlight: Thailand's Senate passed the Marriage Equality Bill, making it the first nation in Southeast Asia to recognize same-sex unions.

• The bill grants LGBTQ+ couples the same legal rights as heterosexual couples regarding inheritance and adoption.
• It received Royal Assent on 17 June 2026.
• Thailand is the third in Asia to pass such legislation after Taiwan and Nepal.

Appointments & Resignations

Amrit Mohan Prasad Appointed as DG of Sashastra Seema Bal (SSB)

Key Highlight: Senior IPS officer Amrit Mohan Prasad took charge as the Director General of the Sashastra Seema Bal (SSB).

• He is a 1989-batch officer of the Odisha cadre.
• The appointment was cleared by the Appointments Committee of the Cabinet (ACC).
• He will serve until his retirement in August 2027.

About SSB

• Established: 1963
• Headquarters: New Delhi
• Motto: Service, Security and Brotherhood

Inderpal Singh Bindra Takes Charge as SEBI Secretary

Key Highlight: Inderpal Singh Bindra has been appointed as the Secretary of the Securities and Exchange Board of India (SEBI).

• He succeeds G. Babita Rayudu, who retired earlier this year.
• Bindra previously served as an Executive Director at the Income Tax Department.
• His tenure is set for a period of three years.

Sudhakar Rao Appointed as Deputy Governor of RBI

Key Highlight: The Government of India appointed Sudhakar Rao as the Deputy Governor of the Reserve Bank of India (RBI) for three years.

• He will oversee the Department of Supervision and Financial Stability.
• Prior to this, he was the Managing Director at State Bank of India (SBI).
• He replaces T. Rabi Sankar following the completion of his tenure.

Awards & Honours

Vinod Ganatra Wins Nelson Mandela Humanitarian Award 2026

Key Highlight: Renowned Indian filmmaker Vinod Ganatra was conferred with the Nelson Mandela Humanitarian Award for his contribution to children's cinema.

• He is the first Indian to receive this prestigious global recognition.
• The award ceremony took place in Geneva, Switzerland.
• Ganatra has directed over 400 documentaries and TV programs.

Jenny Erpenbeck Wins 2026 International Booker Prize

Key Highlight: German author Jenny Erpenbeck and translator Michael Hofmann won the International Booker Prize for the novel 'Kairos'.

• The prize carries a £50,000 award, split equally between author and translator.
• The novel explores a destructive affair set in East Berlin during the 1980s.
• It is the first German book to win the award since its restructuring.

Defence News

India-US Conduct Joint Exercise 'Yudh Abhyas 2026' in Alaska

Key Highlight: The 22nd edition of the joint military exercise Yudh Abhyas between India and the United States commenced in Alaska.

• The exercise focuses on high-altitude warfare and cold-weather survival.
• The Indian Army contingent consists of 350 personnel from the Maratha Light Infantry.
• It aims to enhance interoperability and strategic cooperation between the two nations.

DRDO Successfully Tests Next-Generation 'Agni-Prime' Missile

Key Highlight: The Defence Research and Development Organisation (DRDO) successfully flight-tested the Agni-Prime ballistic missile off the coast of Odisha.

• Agni-Prime is a canisterized missile with a range between 1,000 and 2,000 km.
• The test met all mission objectives, validating the propulsion system and navigation.
• It is a two-stage solid propellant missile, much lighter than previous Agni variants.

Science & Technology

NASA’s Perseverance Rover Discovers Ancient Riverbed on Mars

Key Highlight: NASA's Perseverance Rover identified geological evidence of a high-energy ancient river in the Jezero Crater on Mars.

• The rocks found suggest a river that was deeper and faster-moving than previously thought.
• Data was collected using the Mastcam-Z instrument.
• This discovery provides clues about the Red Planet's watery past and potential for microbial life.

ISRO Successfully Completes Gaganyaan Service Module Hot Test

Key Highlight: The Indian Space Research Organisation (ISRO) successfully conducted the hot test of the Gaganyaan Service Module Propulsion System.

• The test was conducted at the ISRO Propulsion Complex (IPRC) in Mahendragiri.
• It simulated the mission profile for the de-boosting phase of the crew module.
• This is a critical milestone for India's first human spaceflight mission scheduled for 2027.

Sports

India Wins 2026 T20 World Cup Final Against Australia

Key Highlight: India defeated Australia by 15 runs in the final of the 2026 ICC Men's T20 World Cup at Lord's, London.

• Hardik Pandya was named Player of the Match for his all-round performance (45 runs & 3 wickets).
• This marks India's third T20 World Cup title (2007, 2024, 2026).
• Jasprit Bumrah was awarded Player of the Tournament for taking 18 wickets.

Neeraj Chopra Wins Gold at Paavo Nurmi Games 2026

Key Highlight: Olympic Gold Medalist Neeraj Chopra secured first place at the Paavo Nurmi Games in Turku, Finland.

• Chopra recorded a best throw of 89.94 metres to clinch the Gold medal.
• He defeated Germany's Max Dehning, who finished second with 86.12m.
• This is Neeraj's third consecutive podium finish in the 2026 Diamond League season.

Obituaries

Former Indian Captain and Veteran Cricketer Anshuman Gaekwad Passes Away

Key Highlight: Former Indian opening batsman and national coach Anshuman Gaekwad passed away at the age of 73.

• He played 40 Tests and 15 ODIs for India between 1975 and 1985.
• He served as the Head Coach of the Indian National Team during the 1999 World Cup.
• He was a recipient of the C.K. Nayudu Lifetime Achievement Award.