Banking, Finance & Business

RBI Imposes Penalty of ₹2.00 Lakh on The Tiruchirappalli District Central Co-operative Bank

Key Highlight: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹2.00 lakh on The Tiruchirappalli District Central Co-operative Bank Ltd for non-compliance with KYC directions.

• The penalty was issued under Section 47A(1)(c) read with Section 46(4)(i) of the Banking Regulation Act, 1949.
• The inspection report revealed failure to carry out periodic updation of KYC of its customers.
• The action is based on deficiencies in regulatory compliance and not on the validity of any transaction.

About Reserve Bank of India (RBI)

• Established: 1935
• Headquarters: Mumbai, Maharashtra
• Head: Shaktikanta Das

Adani One and ICICI Bank Launch Co-branded Credit Cards

Key Highlight: Adani One and ICICI Bank have collaborated with Visa to launch two variants of co-branded credit cards.

• The cards are named Adani One ICICI Bank Signature Credit Card and Adani One ICICI Bank Platinum Credit Card.
• Users get up to 7% Adani Rewards on spends within the Adani ecosystem like Adani One app, airports, and gas.
• The Signature variant offers a joining bonus of ₹5,000, while the Platinum variant offers ₹2,000.

PhonePe Partners with PickMe to Enable UPI for Indians Traveling to Sri Lanka

Key Highlight: PhonePe has partnered with PickMe, Sri Lanka's leading ride-hailing service, to offer UPI payments for Indian travelers.

• This follows the recent launch of UPI in Sri Lanka by NPCI International Payments Limited (NIPL).
• Indian tourists can now pay for rides using PhonePe's UPI linked to their Indian bank accounts.
• The move aims to provide a seamless payment experience for the nearly 20% of tourists in Sri Lanka who are from India.

National & State News

PM Narendra Modi to Release 17th Instalment of PM-KISAN Scheme in Varanasi

Key Highlight: Prime Minister Narendra Modi is set to release the 17th instalment of the PM-KISAN scheme, amounting to over ₹20,000 crore, in Varanasi.

• The funds will benefit more than 9.26 crore beneficiary farmers across the country.
• Modi will also grant certificates to over 30,000 women from Self Help Groups (SHGs) as Krishi Sakhis.
• Since its inception, the PM-KISAN scheme has disbursed over ₹3.04 lakh crore to 11 crore farmers.

Arunachal Pradesh Cabinet Approves 21 Tasks for First 100 Days

Key Highlight: The first cabinet meeting of the Pema Khandu-led Arunachal Pradesh government approved 21 priority tasks for its first 100 days.

• Key initiatives include the 'Chief Minister's Social Security Scheme' and the 'Arunachal Shri' mission for SHGs.
• The cabinet approved ₹500 crore for the 'Chief Minister's Urban Revitalisation Projects'.
• Emphasis is placed on 'Ease of Living' through digital governance and infrastructure development.

Appointments & Resignations

Ajit Doval Re-appointed as National Security Adviser (NSA)

Key Highlight: The Appointments Committee of the Cabinet (ACC) has re-appointed Ajit Doval as the National Security Adviser (NSA) for a third consecutive term.

• His appointment is co-terminus with the term of Prime Minister Narendra Modi.
• Ajit Doval is a 1968-batch IPS officer and has served as NSA since 2014.
• He has been assigned the rank of Cabinet Minister in the Table of Precedence.

P.K. Mishra Re-appointed as Principal Secretary to PM Modi

Key Highlight: Dr. P.K. Mishra has been re-appointed as the Principal Secretary to the Prime Minister with effect from June 10, 2026.

• He is a 1972-batch IAS officer of the Gujarat cadre.
• He will hold the rank of Cabinet Minister during his tenure.
• Mishra has been a long-time aide to PM Modi, serving in the PMO since 2014.

Awards & Honours

ASPIRE Project Wins WSIS 2024 'Champion' Award

Key Highlight: The ASPIRE (Accelerating Smart Power and Renewable Energy) project, funded by UK International Development, won the WSIS 2024 Champion Award.

• The award was presented at the World Summit on the Information Society (WSIS)+20 Forum in Geneva.
• The project was recognized under the 'E-Science' category for its Energy Data Management Platform (EDMP).
• The EDMP helps in tracking and analyzing renewable energy trends and grid stability.

Defence News

GRSE Launches 'Amini', the 6th Ship of ASW SWC Class

Key Highlight: Garden Reach Shipbuilders & Engineers (GRSE) launched 'Amini', the sixth of eight Anti-Submarine Warfare Shallow Water Craft (ASW SWC).

• The ship is being built for the Indian Navy to replace the Abhay-class ASW ships.
• It is designed for sub-surface surveillance in coastal waters and Low Intensity Maritime Operations (LIMO).
• The vessel is 77 meters long and can achieve speeds of up to 25 knots.

Science & Technology

IIT Madras Develops 'Sindhuja-I' Ocean Wave Energy Converter

Key Highlight: Researchers at IIT Madras have successfully tested 'Sindhuja-I', a device that generates electricity from ocean waves.

• The system was deployed off the coast of Tuticorin, Tamil Nadu, at a depth of 20 meters.
• It aims to provide sustainable energy to island communities and offshore installations.
• The project aligns with India’s Deep Ocean Mission and Blue Economy goals.

Rankings & Index

India Ranks 129th in Global Gender Gap Index 2026

Key Highlight: India has been ranked 129th out of 146 countries in the World Economic Forum’s (WEF) Global Gender Gap Index 2026.

• India slipped two places from its 127th rank in 2025.
• Iceland maintained its position as the most gender-equal country in the world.
• India showed progress in secondary education enrollment but lagged in economic participation.

Sports

Neeraj Chopra Wins Gold at Paavo Nurmi Games 2026

Key Highlight: India’s Olympic champion Neeraj Chopra clinched the gold medal in the Men's Javelin Throw at the Paavo Nurmi Games in Turku, Finland.

• Chopra secured the top spot with a best throw of 85.97 meters.
• He defeated Toni Keranen of Finland and Oliver Helander.
• This was Neeraj's first gold at the Paavo Nurmi Games after winning silver in 2022.

Shruti Vora Becomes First Indian to Win 3-Star Grand Prix Dressage

Key Highlight: Shruti Vora has made history by becoming the first Indian equestrian to win a 3-star Grand Prix event.

• She achieved this feat at the CDI-3* event held in Lipica, Slovenia.
• Vora scored 67.761 points riding her horse Magnanimous.
• The victory is a significant milestone for equestrian sports in India.

International News

Cyril Ramaphosa Re-elected as President of South Africa

Key Highlight: Cyril Ramaphosa has been re-elected as the President of South Africa for a second term by the newly elected National Assembly.

• His party, the African National Congress (ANC), formed a Government of National Unity (GNU).
• Ramaphosa defeated Julius Malema of the Economic Freedom Fighters with 283 votes.
• The GNU includes the Democratic Alliance (DA) and other smaller parties.

G7 Summit 2026 Concludes in Apulia, Italy

Key Highlight: The 52nd G7 Summit concluded in Apulia, Italy, with a focus on AI, migration, and the Indo-Pacific region.

• Prime Minister Narendra Modi attended the summit as an invitee for the Outreach Session.
• The leaders agreed on a $50 billion loan for Ukraine using frozen Russian assets.
• Italy's Prime Minister Giorgia Meloni chaired the summit, emphasizing Africa-Europe partnerships.

Obituaries

Former Odisha Governor Murlidhar Chandrakant Bhandare Passes Away

Key Highlight: Former Governor of Odisha and senior Congress leader Murlidhar Chandrakant Bhandare passed away at the age of 95.

• He served as the Governor of Odisha from 2007 to 2013.
• Bhandare was a three-term Rajya Sabha member from Maharashtra.
• He was a distinguished Senior Advocate of the Supreme Court.

Important Days

World Day to Combat Desertification and Drought 2026 - June 17

Key Highlight: World Day to Combat Desertification and Drought is observed annually on June 17 to raise awareness about land degradation.

• The theme for 2026 is "United for Land: Our Legacy. Our Future."
• The day marks the anniversary of the adoption of the United Nations Convention to Combat Desertification (UNCCD).
• Global events focus on sustainable land management and restoring degraded ecosystems.

Sustainable Gastronomy Day 2026 - June 18

Key Highlight: Sustainable Gastronomy Day is observed on June 18 to recognize gastronomy as a cultural expression of the world's natural diversity.

• The day was designated by the UN General Assembly in December 2016.
• It promotes food security, agricultural development, and sustainable food production.
• The focus is on reducing waste and supporting local food systems.