Banking, Finance & Business

RBI Imposes ₹1.50 Crore Penalty on Union Bank of India

Key Highlight: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.50 crore on Union Bank of India for non-compliance with regulatory directions on 25 June 2026.

• Action taken under Section 47A(1)(c) of the Banking Regulation Act, 1949.
• The penalty relates to violations of Loans and Advances – Statutory and Other Restrictions.
• An inspection revealed the bank failed to ensure End-use Monitoring of sanctioned funds in five large-scale infrastructure projects.
• The bank also delayed reporting of Cyber Security Incidents within the mandated 2-hour window.

About Union Bank of India

• Established: 11 November 1919
• Headquarters: Mumbai, Maharashtra
• MD & CEO: Ms. A. Manimekhalai

SEBI Introduces New ESG Rating Framework for Indian Corporates

Key Highlight: The Securities and Exchange Board of India (SEBI) launched a revised ESG (Environmental, Social, and Governance) disclosure framework on 25 June 2026 to improve transparency.

• The new framework, BRSR Core 2.0, mandates the top 1,500 listed entities to provide assurance on environmental metrics.
• It introduces 9 key parameters including Water Footprint and Greenhouse Gas Emissions.
• Entities must now include a Supply Chain Compliance report for at least 25% of their vendors by value.

About SEBI

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

SBI Launches 'Sarvatra' Unified Digital Banking Application

Key Highlight: State Bank of India (SBI) officially launched its next-generation banking app, 'Sarvatra', on 25 June 2026, integrating all legacy systems into one AI-driven platform.

• The app replaces the older YONO SBI platform with a more responsive UI and 150+ new services.
• It features Offline UPI Payments through NFC technology for transactions up to ₹500.
• The platform is integrated with the OCEN (Open Credit Enablement Network) for instant micro-loans.

National & State News

PM Modi Inaugurates Vadhvan Port Project in Maharashtra

Key Highlight: Prime Minister Narendra Modi laid the foundation stone for the mega Vadhvan Port project in Palghar, Maharashtra on 25 June 2026.

• The project is worth an estimated ₹76,220 crore and aims to be among the top 10 ports globally.
• The port is being developed by Vadhvan Port Project Limited (VPPL), a JV between JNPA and Maharashtra Maritime Board.
• It will have a natural draft of 20 meters, allowing it to handle the world's largest container ships.
• The project is expected to create 1.2 million direct and indirect jobs in the region.

Cabinet Approves MSP for 14 Kharif Crops for 2026-27 Season

Key Highlight: The Union Cabinet, chaired by PM Narendra Modi, approved the Minimum Support Price (MSP) for 14 Kharif crops on 25 June 2026.

• The MSP for Paddy (Common) has been increased by ₹117 to ₹2,400 per quintal.
• The highest absolute increase was recommended for Nigerseed (₹983 per quintal) followed by Moong (₹850 per quintal).
• The hike ensures a margin of at least 50% over the all-India weighted average cost of production.
• This decision aims to benefit over 120 million farmers across the country.

Odisha Government Launches 'Subhadra Yojana' for Women Empowerment

Key Highlight: Odisha Chief Minister launched the 'Subhadra Yojana' on 25 June 2026, providing financial assistance to women in the state.

• Under this scheme, every woman will receive a voucher of ₹50,000 to be encashed over two years.
• The scheme targets women between the ages of 21 and 60 who are from BPL families.
• It aims to promote financial independence and entrepreneurship among rural women.

Ministry of Education Launches Phase 3 of 'Prerana' Program

Key Highlight: The Department of School Education & Literacy launched the third phase of the 'Prerana' Experiential Learning Program on 25 June 2026.

• The program will be conducted at a vernacular school in Vadnagar, Gujarat.
• It involves 20 selected students from across India for a week-long residential program.
• The curriculum is based on nine value-based themes derived from the National Education Policy (NEP) 2020.

Appointments & Resignations

Ravi Agrawal Appointed as Chairman of CBDT

Key Highlight: Senior IRS officer Ravi Agrawal took charge as the Chairman of the Central Board of Direct Taxes (CBDT) on 25 June 2026.

• He succeeds Nitin Gupta, who completed his extended tenure on June 24.
• Agrawal is a 1988-batch Indian Revenue Service (IRS) officer.
• Prior to this, he served as Member (Administration) in the CBDT.

Justice Sanjiv Khanna Appointed as 51st Chief Justice of India

Key Highlight: Justice Sanjiv Khanna has been officially appointed as the 51st Chief Justice of India (CJI), with his tenure beginning 25 June 2026.

• He succeeds Justice D.Y. Chandrachud following the standard seniority protocol.
• The appointment was approved by President Droupadi Murmu under Article 124 of the Constitution.
• He will serve a tenure of approximately six months before his retirement.

Girish Chandra Murmu Re-elected as External Auditor of WHO

Key Highlight: The Comptroller and Auditor General of India (CAG), Girish Chandra Murmu, was re-elected as the External Auditor of the World Health Organization (WHO) on 25 June 2026.

• The re-election is for a four-year term from 2026 to 2030.
• He won with a majority of 114 out of 156 votes in the first round of voting at the World Health Assembly.
• This marks his second consecutive term in this prestigious international position.

International News

52nd G7 Summit Concludes in Brindisi, Italy

Key Highlight: The 52nd G7 Summit concluded on 25 June 2026 in Brindisi, Italy, with a focus on Global AI Governance and Climate Finance.

• Leaders from USA, UK, France, Germany, Italy, Canada, and Japan attended the 3-day summit.
• India was invited as an Outreach Country, represented by PM Narendra Modi.
• The summit announced the 'Apulia Food Systems Initiative' to tackle global hunger.
• A commitment was made to phase out coal power by the year 2035.

India and Vietnam Sign Mutual Logistics Support Agreement

Key Highlight: India and Vietnam signed a major Mutual Logistics Support Agreement (MLSA) during a high-level defense meet on 25 June 2026.

• The pact allows the militaries of both nations to use each other’s bases for repair and replenishment of supplies.
• It was signed by Indian Defence Minister Rajnath Singh and his Vietnamese counterpart in Hanoi.
• This is the first such agreement Vietnam has signed with any country in the ASEAN region.

Science & Technology

ISRO Successfully Tests CE-20 Cryogenic Engine for Gaganyaan Mission

Key Highlight: The Indian Space Research Organisation (ISRO) successfully conducted a hot test of the CE-20 Cryogenic Engine on 25 June 2026.

• The test was conducted at the ISRO Propulsion Complex (IPRC) in Mahendragiri, Tamil Nadu.
• The engine is designed to power the upper stage of the LVM3 launch vehicle for the Gaganyaan human spaceflight mission.
• The engine operated for a duration of 720 seconds, meeting all performance parameters.

About ISRO

• Established: 15 August 1969
• Headquarters: Bengaluru
• Chairman: S. Somanath

Microsoft Launches 'Aura' AI Language Model for Indian Languages

Key Highlight: Microsoft India unveiled 'Aura', a specialized Small Language Model (SLM) trained on 22 official Indian languages, on 25 June 2026.

• The model is optimized to run on low-cost mobile devices without high-speed internet.
• It was developed in collaboration with the Bhashini initiative of the Government of India.
• The model aims to provide real-time translation and voice assistance for rural governance.

Rankings & Index

India Ranks 126th in Global Peace Index 2026

Key Highlight: The Institute for Economics and Peace (IEP) released the 19th edition of the Global Peace Index (GPI) 2026 on 25 June 2026.

• India improved its rank by two places to reach 126th out of 163 countries.
• Iceland remains the most peaceful country in the world, a position it has held since 2008.
• Afghanistan remains the least peaceful country for the eighth consecutive year.
• The report noted a 5% improvement in India's internal security situation compared to 2025.

World Competitiveness Ranking 2026: India Slips to 43rd Position

Key Highlight: According to the IMD World Competitiveness Center, India has slipped three places to 43rd in the 2026 World Competitiveness Ranking.

• Singapore returned to the 1st position, followed by Denmark and Switzerland.
• The decline for India is attributed to infrastructure bottlenecks and fluctuations in the exchange rate.
• However, India showed improvement in the Business Efficiency sub-factor.

Sports

Sumit Nagal Wins ATP Challenger Title in Heilbronn, Germany

Key Highlight: Indian tennis star Sumit Nagal clinched the Heilbronn Neckarcup ATP Challenger title on 25 June 2026.

• He defeated Alexander Ritschard of Switzerland in straight sets (6-1, 7-6) in the final.
• This is Nagal's sixth ATP Challenger title and his second of the 2026 season.
• With this win, he is projected to reach a career-high ATP ranking of 68.

India Wins Gold in Men’s 4x400m Relay at Asian Athletics Championships

Key Highlight: The Indian Men's 4x400m Relay team won the Gold Medal at the Asian Athletics Championships 2026 held in Bangkok on 25 June 2026.

• The team consisting of Muhammed Anas, Amoj Jacob, Rajesh Ramesh, and Santhosh Kumar clocked 3:01.25.
• They defeated the Japanese team by a narrow margin of 0.15 seconds.
• This win secures an automatic qualification for the World Athletics Championships later this year.

Neeraj Chopra Wins Lausanne Diamond League 2026

Key Highlight: Olympic champion Neeraj Chopra secured first place at the Lausanne Diamond League on 25 June 2026 with a season-best throw.

• Chopra's best throw of 89.94m came in his fourth attempt.
• He finished ahead of Jakub Vadlejch (88.12m) and Julian Weber (87.50m).
• This victory places him at the top of the Diamond League 2026 points table in the Javelin Throw category.

Obituaries

Veteran Freedom Fighter and Social Activist Shanti Devi Passes Away

Key Highlight: Renowned Gandhian follower and Padma Shri awardee Shanti Devi passed away at the age of 102 on 25 June 2026 in Odisha.

• She was known for her work toward the education of tribal girls and the Bhoodan Movement.
• She received the Padma Shri in 2021 for her lifelong social service in Rayagada district.
• PM Modi and various leaders expressed their condolences, citing her as a "guiding light for social reform."