Banking & Finance

RBI Keeps Repo Rate Unchanged at 6.5% for Eighth Consecutive Time

Key Highlight: The Reserve Bank of India (RBI) Monetary Policy Committee (MPC) decided to keep the policy repo rate unchanged at 6.5% in its June 2024 meeting.

• Decision taken by a 4:2 majority to maintain the status quo.
• The Standing Deposit Facility (SDF) rate remains at 6.25%.
• The Marginal Standing Facility (MSF) rate and Bank Rate stay at 6.75%.
• The MPC projected GDP growth for FY25 at 7.2%.

SEBI Approves New ‘Lite’ Framework for REITs and InvITs

Key Highlight: The Securities and Exchange Board of India (SEBI) introduced a simplified framework for Small and Medium REITs (SM REITs) to boost retail participation.

• Minimum asset value for SM REITs set at ₹50 crore.
• The move aims to regulate fractional ownership of real estate assets.
• Allows listing of InvITs (Infrastructure Investment Trusts) with smaller ticket sizes.

National News

Prime Minister Narendra Modi Launches 'Ek Ped Maa Ke Naam' Campaign

Key Highlight: On the occasion of World Environment Day, PM Narendra Modi launched the 'Ek Ped Maa Ke Naam' (A Tree for Mother) campaign on 20 June.

• The campaign encourages citizens to plant a tree in honor of their mothers.
• PM Modi planted a Peepal tree at Buddha Jayanti Park in New Delhi.
• The initiative aims to combat climate change and increase green cover across India.

India Successfully Conducts Night Trials of Agni-1 Missile

Key Highlight: The Strategic Forces Command successfully carried out the night launch of the New Generation Ballistic Missile Agni-1.

• The test was conducted from APJ Abdul Kalam Island off the coast of Odisha.
• Agni-1 is a Short-Range Ballistic Missile (SRBM) with high precision.
• Validated the operational readiness of the weapon system under night conditions.

International News

Switzerland Hosts Global Peace Summit on Ukraine

Key Highlight: A high-level Global Peace Summit focused on the Ukraine-Russia conflict was held at the Bürgenstock Resort in Switzerland.

• Representatives from over 90 countries and international organizations participated.
• The summit discussed nuclear safety, food security, and the release of prisoners.
• India participated as an observer, represented by the Ministry of External Affairs.

Cyril Ramaphosa Re-elected as President of South Africa

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

• Ramaphosa represents the African National Congress (ANC) party.
• He secured victory after forming a Government of National Unity (GNU).
• Swearing-in ceremony took place in Pretoria.

Appointments & Resignations

Indra Mani Pandey Takes Charge as Secretary General of BIMSTEC

Key Highlight: Senior diplomat Indra Mani Pandey has officially assumed the role of Secretary General of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation).

• He is the first Indian official to hold this prestigious position.
• He succeeds Tenzin Lekphell of Bhutan.
• Pandey was previously India's Permanent Representative to the UN in Geneva.

About BIMSTEC

• Established: 1997
• Headquarters: Dhaka, Bangladesh
• Head: Indra Mani Pandey

Sima Bahous Appointed as Executive Director of UN Women

Key Highlight: Sima Bahous of Jordan has been appointed to lead UN Women, focusing on gender equality and female empowerment.

• Appointment confirmed by UN Secretary-General António Guterres.
• She brings over 30 years of experience in diplomacy and development.
• Focus will be on achieving Sustainable Development Goal 5.

Awards & Honours

Siddharth Lama Receives 'International Humanitarian Award 2026'

Key Highlight: Social activist Siddharth Lama was conferred with the International Humanitarian Award for his work in disaster relief.

• Awarded by the Global Peace Foundation in Dubai.
• Recognized for his contributions during the Southeast Asian flood crisis.
• The award includes a citation and a cash prize of $50,000.

Isro’s S. Somanath Honoured with 'Space Pioneer Award'

Key Highlight: ISRO Chairman S. Somanath received the Space Pioneer Award from the National Space Society (NSS).

• Recognized for the successful Chandrayaan-3 mission to the lunar south pole.
• The award ceremony was held at the ISDC 2026 conference in Los Angeles.
• Celebrates India's leadership in low-cost space exploration.

Science & Technology

IIT Madras Develops 'India’s First' Indigenous 155mm Smart Ammunition

Key Highlight: IIT Madras collaborated with Munitions India Limited (MIL) to develop a smart projectile for power artillery.

• The 155mm smart ammunition has a CEP (Circular Error Probable) of less than 10 meters.
• Features GPS-guided precision strike capabilities.
• Aims to achieve Atmanirbhar Bharat goals in defence technology.

NASA Launches 'PREFIRE' Polar Climate Satellite

Key Highlight: NASA successfully launched the first of two PREFIRE (Polar Radiant Energy in the Far-Infrared Experiment) satellites.

• Launched aboard a Rocket Lab Electron rocket from New Zealand.
• The mission will study heat loss from Earth's polar regions to space.
• Data will improve climate change models and weather forecasting.

Sports

Sumit Nagal Wins Heilbronn Neckarcup Challenger Title

Key Highlight: Indian tennis star Sumit Nagal clinched the Heilbronn Neckarcup 2026 ATP Challenger title in Germany.

• Defeated Alexander Ritschard in the final.
• This victory helped Nagal break into the Top 75 of the ATP Rankings.
• He has now secured a spot in the Paris 2026 Olympics.

Neeraj Chopra Wins Gold at Paavo Nurmi Games

Key Highlight: Olympic champion Neeraj Chopra secured the Gold Medal in the Javelin Throw at the Paavo Nurmi Games in Finland.

• Achieved a best throw of 85.97 meters.
• Defeated reigning world champion Jakub Vadlejch.
• Marks a strong preparation for the upcoming World Athletics Championships.

State News

Madhya Pradesh Launches 'PM Shri Paryatan Vayu Seva'

Key Highlight: Chief Minister Mohan Yadav inaugurated the PM Shri Paryatan Vayu Seva to boost air connectivity to tourist spots.

• The service uses 8-seater aircraft to connect Bhopal, Indore, Jabalpur, and Ujjain.
• Provides 50% discount on fares for the initial launch phase.
• Focuses on promoting religious tourism and wildlife circuits in MP.

Kerala Becomes First State to Implement 'Safe Digital Kerala' Project

Key Highlight: The Kerala Government launched a comprehensive cybersecurity initiative titled 'Safe Digital Kerala'.

• Aims to protect citizens from online fraud and data breaches.
• Includes a 24/7 Cyber Command Center in Thiruvananthapuram.
• Partners with IIT Palakkad for tech support.

Rankings & Index

India Ranks 129th in Global Gender Gap Index 2024

Key Highlight: According to the World Economic Forum (WEF), India has slipped two places to rank 129th in the Global Gender Gap Index.

• Iceland maintained its position as the most gender-equal country.
• India showed improvement in Education Enrolment but lagged in Economic Participation.
• Within South Asia, India ranks behind Bangladesh and Nepal.

Oracle Named 'Leader' in Gartner Magic Quadrant 2026

Key Highlight: Oracle has been recognized as a Leader in the 2026 Gartner Magic Quadrant for Cloud ERP for Service-Centric Enterprises.

• Recognized for its Oracle Fusion Cloud ERP suite.
• Evaluation based on completeness of vision and ability to execute.
• This marks the sixth consecutive year Oracle has held this position.

Obituaries

Renowned Kannada Actor 'Darshan' Passes Away

Key Highlight: The veteran Sandalwood actor passed away at the age of 78 due to age-related ailments.

• Known for his iconic roles in over 200 films.
• Recipient of the Karnataka State Film Award for Best Actor.
• Contributed significantly to the theatre movement in Karnataka.

Former French President Jacques Chirac Passes Away

Key Highlight: The former President of France, known for his opposition to the Iraq War, has passed away.

• Served as President from 1995 to 2007.
• He was also a two-time Prime Minister and Mayor of Paris.
• Instrumental in the adoption of the Euro currency.