NATIONAL UPDATES:
1. India–Oman CEPA Comes into Force from 1 June 2026; Boosts Duty-Free Access for 99.38% of Indian Exports: India and Oman officially operationalized the Comprehensive Economic Partnership Agreement (CEPA) on 1 June 2026, marking a major step in strengthening bilateral trade and economic cooperation. Under the agreement, Oman has provided duty-free access to 99.38% of India’s exports by value, while the concessions cover 98.08% of Oman’s tariff lines.
2. DPIIT and BHASHINI Sign MoU to Boost Multilingual AI and Digital Access Across India’s Investment Ecosystem: The Digital India BHASHINI Division (DIBD) under Digital India Corporation and the Department for Promotion of Industry and Internal Trade signed an MoU under the “BHASHINI Seva/Sanchalan – A BHASHINI Sahayogi Program” to enhance multilingual digital infrastructure in India. The collaboration aims to enable multilingual access, governance, and service delivery across all 22 Eighth Schedule languages, integrating BHASHINI tools such as Udyat, Mitra, Appmitra, and Pravakta, along with AI-based translation APIs and language models.
The initiative will strengthen an inclusive investment and innovation ecosystem by reducing language barriers in startup, industrial, and government services through voice-enabled, AI-driven multilingual technologies.
3. Project UDAYAK Completes 36 Years of Strengthening Strategic Infrastructure in Eastern Arunachal Pradesh: Project UDAYAK was originally raised on 1 June 1990 as part of the restructuring of BRO to focus on infrastructure development in the far-eastern region of the country. The project is responsible for developing and maintaining strategic road and bridge infrastructure in eastern Arunachal Pradesh.
4. GST Collections Rise to ₹1.94 Lakh Crore in May 2026: India’s gross GST collections increased by 2% year-on-year to ₹1.94 lakh crore in May 2026, compared to ₹1.88 lakh crore collected in May 2025. GST revenue from domestic transactions included CGST of ₹37,397 crore, SGST of ₹45,143 crore, and IGST of ₹51,990 crore, supported by stronger goods and services activity. Taxable supplies of goods grew 26.9% and services grew 22.2%, indicating robust domestic demand and consumption, while GST refunds rose 2.6% to ₹27,281 crore.
5. Mahindra–Manulife JV Receives Incorporation Certificate: The Mahindra and Manulife insurance joint venture has received a Certificate of Incorporation from the Ministry of Corporate Affairs, officially establishing the new company. The newly formed entity, Mahindra Manulife Insurance Ltd (MMIL), has now come into existence following regulatory approval. The venture combines Mahindra’s strong India presence with Manulife expertise to build a customer-first, AI-driven and digitally focused life insurance business.
6. Canara Bank Appoints Brajesh Kumar Singh as Managing Director: The Government has appointed Brajesh Kumar Singh as the Managing Director of Canara Bank. He was previously serving as Executive Director of Indian Bank. Singh succeeds K Satyanarayana Raju, who retired in December 2025 after attaining superannuation. The Appointments Committee of the Cabinet (ACC) approved his appointment until April 30, 2029, while the Financial Services Institutions Bureau had recommended his name for the post in December 2025.
7. Justice V. Mohana Sworn In as Supreme Court Judge: Justice V. Mohana was sworn in as a judge of the Supreme Court of India on 2 June 2026. She became the 12th woman judge in the history of the Supreme Court of India and the second woman lawyer directly elevated from the Bar to the apex court after Justice Indu Malhotra in 2018. The Supreme Court of India is the highest judicial body under the Constitution of India. It began functioning on 28 January 1950 and sits in New Delhi. The Supreme Court Collegium is a judicial body that recommends appointments and transfers of judges in the higher judiciary. The Collegium is headed by the Chief Justice of India and includes the senior-most judges of the Supreme Court.
8. D.K. Shivakumar to Become Karnataka Chief Minister: D.K. Shivakumar is scheduled to take oath as the 24th Chief Minister of Karnataka on 3 June 2026. The swearing-in ceremony is planned for 4:00 PM at the Lok Bhavan premises in Bengaluru. The Chief Minister is the head of the Council of Ministers in a State under Article 164 of the Constitution of India. The Chief Minister is appointed by the Governor and is usually the leader of the majority party or coalition in the Legislative Assembly. Siddaramaiah resigned on 28 May 2026 and proposed D.K. Shivakumar’s name as the next Congress Legislature Party leader on 30 May 2026. The proposal was unanimously accepted by the Congress Legislature Party.
INTERNATIONAL UPDATES:
1. 3 June – World Bicycle Day: World Bicycle Day is observed every year on 3 June to recognise the bicycle as a simple, affordable, reliable, and environmentally friendly means of transportation. Theme 2026 – Cycling for a Greener Future The day was proclaimed by the United Nations General Assembly in 2018 to promote the use of bicycles for sustainable development, health, education, and social inclusion.
2. Government allocates ₹10,000 crore for aviation fuel prices: On 3 June 2026, the Union Cabinet approved a one-time budgetary support of up to ₹10,000 crore for Oil Marketing Companies to stabilise Aviation Turbine Fuel prices for scheduled Indian airlines. The support will be given as interest-free advances through the Ministry of Petroleum and Natural Gas for domestic and international flight operations. Aviation Turbine Fuel, or ATF, is the jet fuel used in turbine-powered aircraft. In India, ATF prices are a major operating cost for airlines, and domestic airline operations have been capped at ₹75.6 per litre under the latest arrangement. The decision follows sharp volatility in international ATF prices during the West Asia crisis. The price rose from ₹60.5 per litre in March 2026 to ₹142 per litre in May 2026, which is about 2.5 times higher. The fund is designed as a self-sustaining revolving fund with a fixed-price ATF mechanism for 36 months.
3. US President Confirms Participation in G7 Summit: The 52nd G7 Summit is scheduled for 15-17 June 2026 in Évian-les-Bains, Haute-Savoie, France. United States President Donald Trump confirmed his participation on 3 June 2026 through a post on Truth Social. The G7 is an intergovernmental forum of seven advanced economies. Its members are Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. The European Union also participates in G7 meetings. The 2026 summit agenda includes artificial intelligence, trade, critical mineral supply chains, and crime-fighting. Invited countries for the summit include Brazil, India, Kenya, South Korea, and Syria.
4. US Proposes Tariff on India Over Forced Labour Concerns: On 3 June 2026, the United States proposed additional tariffs on imports from 60 economies, including India, under the Trump administration. The proposal links the measure to Section 301 investigations by the Office of the U.S. Trade Representative into alleged failures to prohibit or enforce bans on goods made with forced labour. India is among 54 countries facing a proposed 12.5% additional tariff on imports. Six other economies, namely Canada, Ecuador, the European Union, Indonesia, Mexico, and Pakistan, would face a 10% tariff under the proposal. The U.S. Trade Representative Jamieson Greer stated on 3 June 2026 that failures by trading partners to address forced labour imports create an uneven trade environment for American workers. India rejected the allegations and sought resolution through bilateral trade negotiations.
5. UPI Payments Go Live in Cambodia: Unified Payments Interface (UPI) payments went live in Cambodia on 2 June 2026 and 3 June 2026 through integration with Cambodia’s national QR payment system, KHQR. The facility allows Indian tourists to scan KHQR codes with UPI-enabled applications at merchant locations in Cambodia. The integration covers more than 4.5 million merchant locations in Cambodia. The arrangement is the first phase of a two-way interoperable payment corridor, and a later phase is planned to allow Cambodian users to make payments in India at UPI merchant locations through KHQR-enabled applications. Unified Payments Interface is India’s real-time digital payment system developed by the National Payments Corporation of India. KHQR is Cambodia’s national QR code standard for merchant payments and is used across retail outlets, restaurants, and tourist sites.
6. US House Passes Iran War Powers Resolution: The United States House of Representatives passed a war powers resolution on 3 June 2026 to direct President Trump to end hostilities with Iran unless Congress declares war or authorises the use of military force. The vote in the House was 215 to 208, and four Republican Representatives joined Democrats in support of the measure. War powers in the United States are divided between Congress and the President under the Constitution of the United States. Article I gives Congress the power to declare war, while Article II makes the President the Commander in Chief of the armed forces. The measure passed by the House is a concurrent resolution. A concurrent resolution is used by both chambers of Congress for matters that do not require presidential signature and do not have the force of law in the same manner as a statute.
OTHER UPDATES:
DEFENCE
1. India Sends LoR to France for 114 Rafale Fighter Jets: India has formally issued a Letter of Request (LoR) to France for the procurement of 114 Rafale fighter aircraft under a government-to-government (G2G) deal estimated at around ₹3.25 lakh crore. Dassault Rafale is a 4.5-generation multi-role fighter aircraft developed and manufactured by Dassault Aviation, and is expected to significantly enhance the Indian Air Force’s combat capabilities.
2. Vice Admiral Vineet McCarty Takes Charge as ANC Chief: Vineet McCarty assumed charge as the 20th Commander-in-Chief of the Andaman and Nicobar Command on 1 June 2026 at Sri Vijaya Puram. He succeeded Ajay Kochhar, who relinquished command on 25 May 2026 and later assumed the role of Vice Chief of the Naval Staff. Commissioned into the Indian Navy on 1 July 1989, Vice Admiral McCarty is a Gunnery and Missiles specialist with over 36 years of distinguished service in the Indian Navy.
3. Indian Navy to Induct Five Indigenous Naval Platforms: The Indian Navy is set to induct five indigenous naval platforms in 2026, including two Project 17A stealth frigates, one Survey Vessel (Large), and two anti-submarine warfare shallow water craft. The platforms include INS Dunagiri, INS Mahendragiri, Sanshodhak, Agray, and Malwan. Project 17A is a class of stealth frigates built for the Indian Navy with a focus on reduced radar cross-section and modern combat systems. Dunagiri is the fifth ship of the Nilgiri-class and was delivered by Garden Reach Shipbuilders & Engineers in Kolkata on 30 March 2026. INS Mahendragiri is another Project 17A frigate scheduled for induction in June 2026.
SPORTS
1. India Wins 19 Medals, Finishes 2nd at Asian U-20 Athletics Championships with Best-Ever Overseas Performance: India delivered its best-ever overseas performance at the 22nd Asian Under-20 Athletics Championships in Hong Kong, finishing 2nd overall with 19 medals (10 Gold, 5 Silver, 4 Bronze). Key highlights included gold in Men’s 800m by Mogali Venkatram, gold in Women’s 4×400m relay, and a junior national record of 45.05 seconds in Women’s 4×100m relay, along with a bronze in Men’s 4×400m relay. A total of 48 Indian athletes (30 men and 18 women) participated in the event, which also served as a qualifier for the World U-20 Athletics Championships to be held in Eugene, USA.
SCIENCE AND TECHNOLOGY
1. India’s First DORIS Ground Beacon Installed at IIT Kanpur: India has installed its first DORIS ground beacon at the Indian Institute of Technology Kanpur, marking an important advancement in the country’s space and Earth observation capabilities. DORIS (Doppler Orbitography and Radio-positioning Integrated by Satellite) is a French satellite tracking system that uses ground beacons and Doppler shift measurements to determine satellite positions with centimetre-level accuracy. The beacon is part of a global DORIS network that supports high-precision applications such as ocean altimetry, climate studies, sea-level monitoring, glacier tracking, and satellite orbit determination.
2. NFHS-6 Records Rise in Obesity and High Blood Sugar: The National Family Health Survey-6 (NFHS-6) was conducted in 2023-24 by the Union Health Ministry and the International Institute for Population Sciences (IIPS), Mumbai. The survey recorded higher levels of obesity and high blood sugar among adults in India compared with NFHS-5 (2019-21). The National Family Health Survey is a large-scale household survey in India that collects data on fertility, mortality, nutrition, anaemia, family planning, and non-communicable diseases. NFHS-6 covered indicators related to obesity, blood sugar, and other health parameters across states and Union Territories. Among women aged 15-49 years, obesity increased from 24% in NFHS-5 to 30.7% in NFHS-6. Among men in the same age group, obesity rose from 22.9% to 27.3% during the same period.
3. India Joins Anthropic’s Advanced AI Programme: Anthropic expanded access to its Claude Mythos Preview AI model on 2 June 2026 under Project Glasswing to about 150 organisations across more than 15 countries, including India. The expansion covers organisations linked to critical infrastructure sectors such as power grids, water systems, healthcare, and telecommunications. Anthropic is a United States-based artificial intelligence company known for the Claude family of large language models. Claude AI services are used for text generation, coding, analysis, and enterprise applications.
BANKING AND FINANCE
1. Industrial Output Grows 4.9% in April 2026: India’s industrial output, measured by the Index of Industrial Production (IIP), grew 4.9% in April 2026, lower than the 5.8% growth recorded in April 2025. The IIP base year has been revised from 2011-12 to 2022-23, and the new series expands coverage by including gas supply and water supply, sewerage & waste management activities. Among sectoral indices, mining and quarrying output contracted by over 5%, while the manufacturing sector grew 6.2%, slightly lower than the 6.3% growth recorded a year earlier.
2. UPI Sets New Record: Hits 23.2 Billion Transactions Worth ₹29.90 Lakh Crore in May 2026: India’s Unified Payments Interface (UPI) achieved a new milestone in May 2026, recording its highest-ever monthly transaction volume and value. According to data released by the National Payments Corporation of India, UPI processed 23.2 billion transactions worth ₹29.90 lakh crore during the month. NPCI, established by the Reserve Bank of India and the Indian Banks’ Association, serves as the umbrella organization for retail payment and settlement systems in India.
3. IRDAI Imposes ₹1 Crore Penalty on Nissan Renault Financial Services: The Insurance Regulatory and Development Authority of India imposed a ₹1 crore penalty on Nissan Renault Financial Services India for violations related to motor insurance service guidelines and other regulatory norms. The corporate agent has also been instructed to file an Action Taken Report within 90 days from the date of the order, confirming compliance with IRDAI directions.
AWARDS AND HONOURS
1. Odisha Selected for PM Surya Ghar Excellence Awards : Odisha was selected for the PM Surya Ghar Excellence Awards on 2 June 2026 for its performance during the Month of Solar campaign held in May 2026. The state ranked first among states with a medium number of consumers in three categories: highest number of applications, highest solar installations, and highest DISCOM inspections. PM Surya Ghar: Muft Bijli Yojana is a central government scheme for rooftop solar power generation in India. The scheme aims to expand household-level solar adoption through installation-linked support and consumer participation.
No comments:
Post a Comment