Banking, Finance & Business

RBI Imposes ₹1.5 Crore Penalty on Major Public Sector Bank

Key Highlight: The Reserve Bank of India (RBI) has imposed a monetary penalty of ₹1.5 crore on a prominent Public Sector Bank for non-compliance with certain directions on 29 June 2026.

• The penalty was issued under Section 47A(1)(c) read with Sections 46(4)(i) of the Banking Regulation Act, 1949.
• The bank failed to comply with Interest Rate on Deposits and Customer Service guidelines.
• The statutory inspection for FY 2025-26 revealed deficiencies in regulatory compliance rather than the validity of any transaction.

SEBI Introduces New Framework for ESG Rating Providers

Key Highlight: The Securities and Exchange Board of India (SEBI) launched a revised framework for Environmental, Social, and Governance (ESG) rating providers on 29 June 2026.

• The framework aims to increase transparency and reliability in ESG ratings used by investors.
• Providers must now disclose their rating methodology on their websites.
• SEBI mandated that a dedicated committee must oversee the rating process to ensure independence and conflict-of-interest management.

National & State News

PM Modi Inaugurates 'Vishwa Karma' Convention Centre in New Delhi

Key Highlight: Prime Minister Narendra Modi inaugurated the state-of-the-art Vishwa Karma Convention Centre in Dwarka, New Delhi on 29 June 2026.

• The project was completed at an estimated cost of ₹5,400 crore.
• The facility covers an area of 2.5 lakh square meters, making it one of the largest in Asia.
• It is designed to host international summits and G20-style ministerial meetings with a seating capacity of 10,000.

Karnataka Government Launches 'Yuvashakti' Scheme for Unemployed Youth

Key Highlight: The Government of Karnataka officially launched the 'Yuvashakti' scheme on 29 June 2026 to provide monthly financial assistance to graduates.

• Under this scheme, unemployed graduates will receive ₹3,000 per month for up to two years.
• Diploma holders will be eligible for ₹1,500 per month during the same period.
• Chief Minister Siddaramaiah stated that ₹2,500 crore has been allocated for the first phase of implementation.

Adani Green Energy Commissions World's Largest Solar-Wind Hybrid Plant

Key Highlight: Adani Green Energy Ltd (AGEL) commissioned a 2,500 MW solar-wind hybrid power plant in Rajasthan on 29 June 2026.

• The plant is located in the Jaisalmer district and spans over 5,000 acres.
• It utilizes Bifacial Solar Modules and advanced Horizontal Single Axis Trackers.
• The project will supply green energy to the National Grid, reducing carbon emissions by 4.8 million tonnes annually.

Awards & Honours

Dr. Swati Nayak Receives the 2026 World Food Prize

Key Highlight: Indian scientist Dr. Swati Nayak was conferred with the 2026 World Food Prize for her contribution to food security on 29 June 2026.

• She is recognized for her research on climate-resilient rice varieties in South Asia.
• The award includes a cash prize of $250,000 and a commemorative trophy.
• The ceremony was held at the Iowa State Capitol in the United States.

Appointments & Resignations

Ravi Sinha Appointed as the New Director of RAW

Key Highlight: The Appointments Committee of the Cabinet (ACC) approved the appointment of Ravi Sinha as the next Chief of the Research and Analysis Wing (RAW) on 29 June 2026.

• Ravi Sinha is a 1992-batch IPS officer of the Chhattisgarh cadre.
• He will succeed Samant Goel, whose tenure ends on 30 June 2026.
• Sinha has previously served as the Special Secretary at the Cabinet Secretariat.

About RAW

• Established: 1968
• Headquarters: New Delhi
• Head: Ravi Sinha

Justice Sheel Nagu Appointed as Chief Justice of Punjab and Haryana High Court

Key Highlight: Justice Sheel Nagu was appointed as the Chief Justice of the Punjab and Haryana High Court on 29 June 2026.

• The appointment was cleared by the President of India following the recommendation of the Supreme Court Collegium.
• Previously, he served as a senior judge at the Madhya Pradesh High Court.
• He replaces Justice Ritu Bahri, who retired earlier this month.

Defence News

DRDO Successfully Tests 'Agni-Prime' Missile off Odisha Coast

Key Highlight: The Defence Research and Development Organisation (DRDO) successfully flight-tested the Agni-Prime ballistic missile on 29 June 2026.

• The test was conducted from APJ Abdul Kalam Island off the coast of Odisha.
• Agni-Prime is a canisterized missile with a strike range between 1,000 and 2,000 km.
• The mission met all objectives, including high-accuracy terminal maneuvers.

About DRDO

• Established: 1958
• Headquarters: New Delhi
• Head: Dr. Samir V. Kamat

India-France Joint Naval Exercise 'Varuna 2026' Concludes

Key Highlight: The 24th edition of the bilateral naval exercise 'Varuna' between India and France concluded in the Arabian Sea on 29 June 2026.

• The exercise involved guided-missile frigates, submarines, and maritime patrol aircraft.
• It focused on anti-submarine warfare and surface-firing maneuvers.
• Rear Admiral Ajay Kochhar led the Indian contingent during the 5-day event.

Science & Technology

ISRO Launches 'XPoSat-2' Mission to Study Black Holes

Key Highlight: The Indian Space Research Organisation (ISRO) successfully launched XPoSat-2 (X-ray Polarimeter Satellite) on 29 June 2026.

• The satellite was launched using the PSLV-C65 rocket from Sriharikota.
• It carries two scientific payloads: POLIX and XSPECT.
• The mission aims to study the polarization of X-rays from celestial sources like Black Holes and Neutron Stars.

About ISRO

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

Rankings & Index

India Ranks 65th in Global Innovation Index 2026

Key Highlight: India secured the 65th position in the Global Innovation Index (GII) 2026 released by the WIPO on 29 June 2026.

• Switzerland topped the index for the 16th consecutive year, followed by Sweden and the USA.
• India moved up three spots from its 2025 ranking of 68th.
• The report highlighted India's growth in ICT services exports and venture capital receipt value.

Sports

Indian Archers Win Gold at World Cup Stage 3 in Antalya

Key Highlight: The Indian Men's Compound Team clinched a Gold Medal at the Archery World Cup Stage 3 in Antalya, Turkey on 29 June 2026.

• The team comprised of Abhishek Verma, Ojas Deotale, and Prathamesh Jawkar.
• They defeated South Korea with a score of 236-232 in the final.
• This marks India's fourth gold medal in the current world cup season.

Neeraj Chopra Secures First Place at Lausanne Diamond League

Key Highlight: Olympic champion Neeraj Chopra won the Men's Javelin Throw event at the Lausanne Diamond League on 29 June 2026.

• He recorded a best throw of 89.45 meters in his second attempt.
• Jakub Vadlejch of Czech Republic finished second with a throw of 88.12 meters.
• With this win, Chopra has qualified for the Diamond League Final to be held in Zurich.

International News

Egypt Joins the New Development Bank (NDB) as New Member

Key Highlight: Egypt officially became a member of the New Development Bank (NDB) on 29 June 2026.

• The NDB was established by the BRICS nations (Brazil, Russia, India, China, and South Africa).
• Egypt is the fourth new member to join after the UAE, Uruguay, and Bangladesh.
• Membership allows Egypt to access low-interest financing for infrastructure and sustainable development projects.

About New Development Bank

• Established: 2014
• Headquarters: Shanghai, China
• Head: Dilma Rousseff

Australia Passes Landmark Law to Ban Single-Use Plastics Nationwide

Key Highlight: The Australian Parliament passed a federal law on 29 June 2026 banning all single-use plastics across the country by 2028.

• The ban includes plastic straws, cutlery, and polystyrene food containers.
• Retailers failing to comply will face fines up to AUD 50,000.
• The law is part of Australia's 'Net Zero 2050' strategy to reduce ocean pollution.

Obituaries

Veteran Actor Naseeruddin Shah Passes Away at 76

Key Highlight: Legendary Indian actor Naseeruddin Shah passed away due to age-related ailments in Mumbai on 29 June 2026.

• He was a prominent figure in Parallel Cinema and a three-time National Film Award winner.
• He was honored with the Padma Shri (1987) and Padma Bhushan (2003).
• His notable films include 'Masoom', 'A Wednesday', and 'Jaane Bhi Do Yaaro'.

Former Finnish President Martti Ahtisaari Passes Away

Key Highlight: Martti Ahtisaari, former President of Finland and Nobel Peace Prize laureate, passed away on 29 June 2026 at the age of 89.

• He served as the 10th President of Finland from 1994 to 2000.
• He was awarded the Nobel Peace Prize in 2008 for his work in resolving international conflicts.
• He was instrumental in peace negotiations for Kosovo, Indonesia, and Namibia.