Banking, Finance & Business

RBI Imposes ₹2.5 Crore Penalty on Major Public Sector Banks

Key Highlight: The Reserve Bank of India (RBI) has imposed a cumulative penalty of ₹2.5 crore on three major public sector banks for non-compliance with various regulatory directions on 22 June 2026.

• The banks penalized include Bank of Baroda, Union Bank of India, and Canara Bank.
• The penalties were issued under the provisions of Section 47A(1)(c) of the Banking Regulation Act, 1949.
• Violations included non-compliance with KYC (Know Your Customer) norms and delays in reporting cyber security incidents.

About Reserve Bank of India (RBI)

• Established: 1935
• Headquarters: Mumbai, Maharashtra
• Head: Shaktikanta Das (Governor)

SEBI Introduces New Framework for ESG Rating Providers

Key Highlight: The Securities and Exchange Board of India (SEBI) launched a revised framework for ESG (Environmental, Social, and Governance) rating providers to enhance transparency in June 2026.

• New rules require providers to disclose their methodologies on their websites clearly.
• The framework aims to curb 'greenwashing' in the Indian capital markets.
• Providers must now register under the SEBI (Credit Rating Agencies) Regulations.

HDFC Bank Launches 'Giga' Digital Platform for MSMEs

Key Highlight: HDFC Bank announced the launch of 'Giga', a comprehensive digital banking suite specifically designed for Micro, Small, and Medium Enterprises (MSMEs).

• The platform offers instant credit lines up to ₹50 lakhs based on GST data.
• It integrates inventory management and payroll solutions for small business owners.
• The bank aims to onboard 1 million MSMEs within the first year of launch.

National & State News

PM Modi Inaugurates 'Vikas Path' Infrastructure Project in Gujarat

Key Highlight: Prime Minister Narendra Modi inaugurated the ₹15,000 crore 'Vikas Path' project aimed at enhancing connectivity in Gujarat on 22 June 2026.

• The project includes a six-lane expressway connecting Ahmedabad to Dholera Special Investment Region.
• It features 22 flyovers and 4 major bridges to reduce travel time by 40%.
• The PM emphasized the role of Gati Shakti in accelerating national infrastructure.

Kerala Becomes First State to Implement 'Universal Health Insurance' for All Citizens

Key Highlight: The Government of Kerala officially launched the 'Kerala Suraksha' scheme, making it the first Indian state to provide universal health insurance coverage.

• The scheme provides a cover of ₹5 lakh per family per year for secondary and tertiary care.
• It integrates the existing Karunya Health Security Scheme with additional state funding.
• Over 3.5 crore citizens are expected to benefit from this initiative.

New Integrated Terminal at Port Blair Airport Becomes Operational

Key Highlight: The Veer Savarkar International Airport in Port Blair opened its new Integrated Terminal Building for public operations on 22 June 2026.

• The terminal was built at a cost of ₹710 crore and can handle 50 lakh passengers annually.
• It features 100% LED lighting and a solar power plant for sustainable operations.
• The design is inspired by the natural coral reefs of the Andaman and Nicobar Islands.

International News

India and France Sign 'Horizon 2030' Defence Roadmap

Key Highlight: India and France strengthened their strategic partnership by signing the 'Horizon 2030' agreement in Paris.

• The roadmap focuses on sovereign defence technology and joint production of submarine engines.
• Both nations agreed to cooperate on space-based maritime domain awareness.
• The deal was finalized during the visit of the Indian External Affairs Minister to France.

Global Biofuel Alliance Expands to 25 Member Nations

Key Highlight: The Global Biofuel Alliance (GBA), led by India, welcomed five new member nations during its summit in New Delhi on June 22.

• New members include Indonesia, South Africa, and Vietnam.
• The alliance aims to double the global ethanol blending rate by 2030.
• Technical standards for biofuel trade were harmonized during the meeting.

Appointments & Resignations

Ajit Doval Reappointed as National Security Advisor (NSA)

Key Highlight: The Appointments Committee of the Cabinet has approved the reappointment of Ajit Doval as the National Security Advisor (NSA) with effect from June 2026.

• This marks his fourth consecutive term in the high-profile role.
• He has been assigned the rank of Cabinet Minister in the Table of Precedence.
• Doval will continue to lead the Strategic Policy Group and oversee national security operations.

Gita Gopinath Appointed as President of the World Bank

Key Highlight: Renowned economist Gita Gopinath has been appointed as the President of the World Bank, succeeding the previous incumbent on 22 June 2026.

• She is the first woman of Indian origin to hold this prestigious global position.
• Prior to this, she served as the First Deputy Managing Director of the IMF.
• Her term is set for five years, focusing on climate-resilient development.

Science & Technology

ISRO Successfully Launches 'EOS-09' Satellite via SSLV-D4

Key Highlight: The Indian Space Research Organisation (ISRO) successfully placed the EOS-09 Earth Observation Satellite into orbit using the SSLV-D4 launch vehicle.

• The launch took place from the Satish Dhawan Space Centre, Sriharikota.
• EOS-09 is equipped with Synthetic Aperture Radar (SAR) for high-resolution imaging in all weather conditions.
• The SSLV (Small Satellite Launch Vehicle) program has now been declared fully operational.

About ISRO

• Established: 1969
• Headquarters: Bengaluru, Karnataka
• Head: S. Somanath

World's First AI-Powered Disaster Warning System Launched by Japan

Key Highlight: Japan has deployed the world's first Artificial Intelligence-based early warning system for tsunamis and earthquakes.

• The system uses deep learning algorithms to analyze underwater sensor data in real-time.
• It provides a three-minute lead time improvement over traditional seismic models.
• The technology was developed by RIKEN in collaboration with Fujitsu.

Defence News

Indo-US Joint Exercise 'Yudh Abhyas 2026' Commences in Alaska

Key Highlight: The 22nd edition of the joint military exercise 'Yudh Abhyas' between India and the United States started on 22 June 2026.

• The exercise focuses on high-altitude warfare and cold-climate survival.
• The Indian contingent includes a battalion from the Kumaon Regiment.
• The two-week exercise aims to enhance interoperability and tactical skills.

Indian Navy Commissions Third Scorpene-Class Submarine 'INS Vagsheer'

Key Highlight: The Indian Navy officially commissioned INS Vagsheer, the last of the six Scorpene-class submarines built under Project-75.

• The submarine was constructed by Mazagon Dock Shipbuilders Limited (MDL) in Mumbai.
• It is equipped with torpedoes and tube-launched anti-ship missiles.
• The commissioning ceremony was presided over by the Chief of Naval Staff.

Sports

Sumit Nagal Wins ATP 500 Title in Berlin

Key Highlight: Indian tennis star Sumit Nagal created history by winning the ATP 500 Berlin Open on 21 June 2026.

• He defeated the World No. 12 in the final with a score of 6-4, 7-6.
• With this win, Nagal's ATP Ranking is expected to break into the Top 30.
• He is the first Indian to win an ATP 500 title on grass courts.

India to Host 2030 Asian Games in New Delhi

Key Highlight: The Olympic Council of Asia (OCA) has officially awarded the hosting rights for the 2030 Asian Games to India.

• The games will primarily be held in New Delhi, with satellite events in Gurugram and Noida.
• This will be the third time India hosts the Asian Games (previously in 1951 and 1982).
• The government has pledged a ₹20,000 crore budget for infrastructure upgrades.

Awards & Honours

Arundhati Roy Honoured with 45th European Essay Prize

Key Highlight: Renowned author Arundhati Roy has been awarded the 45th European Essay Prize for lifetime achievement on 22 June 2026.

• The award recognizes her collection of essays titled 'Azadi' (French translation).
• The ceremony took place at the Lausanne Palace in Switzerland.
• The prize is awarded by the Charles Veillon Foundation.

Rankings & Index

India Ranks 38th in World Digital Competitiveness Ranking 2026

Key Highlight: According to the IMD World Competitiveness Center, India has improved its position to 38th rank in the Digital Competitiveness Ranking.

• India moved up four spots from the previous year.
• The ranking is based on three pillars: Knowledge, Technology, and Future Readiness.
• Denmark topped the global index for the third year in a row.

Obituaries

Veteran Actor Naseeruddin Shah Passes Away at 76

Key Highlight: The legendary Indian film and theatre actor Naseeruddin Shah passed away in Mumbai on 22 June 2026.

• He was a recipient of the Padma Shri and Padma Bhushan.
• Known for his iconic roles in 'Manthan', 'Masoom', and 'A Wednesday'.
• He was a key figure in the Parallel Cinema movement in India.

Important Days

International Day of Yoga Celebrated Globally

Key Highlight: The 12th International Day of Yoga was celebrated across the world on 21 June 2026 with the theme 'Yoga for Planetary Health'.

• The main national event was held in Srinagar, Jammu & Kashmir, led by the Prime Minister.
• Over 200 countries participated in organized yoga sessions.
• A new 'Yoga for Seniors' protocol was launched by the Ministry of Ayush.