Daily GK Update- 10th June, 2025

 NATIONAL UPDATES:

 

1. AIIA Launches Three-Day Iyengar Yoga Workshop ‘Yoga Samavesh’: The All India Institute of Ayurveda (AIIA) is hosting a three-day Iyengar Yoga Workshop titled Yoga Samavesh from 9 to 11 June, as part of International Day of Yoga celebrations, with sessions held daily from 2 PM to 3 PM IST.The workshop is led by renowned Iyengar Yoga teacher Amit Sharma from Lifeyoga Centre, focusing on precise body alignment techniques and mental wellness in line with Iyengar tradition.The event is open to AIIA scholars and yoga enthusiasts, who can register by emailing Dr. Ramavtar Sharma; AIIA emphasizes making yoga accessible, therapeutic, and inclusive ahead of International Yoga Day on June 21.

 

2. Tamil Nadu Boosts Conservation with New Flamingo Sanctuary and Green Initiatives: Tamil Nadu has established a 7-hectare sanctuary at Dhanushkodi to protect migratory bird habitats and enhance biodiversity as part of the Gulf of Mannar Biosphere Reserve.Dhanushkodi lies along the Central Asian Flyway and supports 128 species of wetland birds, including flamingos, herons, and sandpipers; its mangroves help prevent coastal erosion and serve as breeding grounds.The sanctuary is expected to boost ecotourism and local jobs, with initiatives such as Blue Flag certification for beaches, CNG conversion of buses, and improved forest roads to support sustainable development.

 

3. NHAI Launches First Asset Monetisation Strategy to Boost Road Sector Financing and Private Investment: The National Highways Authority of India (NHAI) released its first-ever Asset Monetisation Strategy for the road sector, offering a structured framework to raise capital through Toll-Operate-Transfer (ToT), Infrastructure Investment Trusts (InvITs), and securitisation models.Under the National Monetisation Pipeline, NHAI has already raised over ₹4 lakh crore by monetising more than 6,100 km of national highways using these innovative financing methods.

The strategy is built on three key pillars: value maximisation of government road assets, transparency and information sharing for investors, and deepening market participation to ensure long-term financial sustainability and private sector involvement

 

4. RBI Deputy Governor T Rabi Sankar Appointed as Part-Time Member of Sixteenth Finance Commission: T Rabi Sankar, Deputy Governor of the Reserve Bank of India (RBI), has been appointed as a part-time Member of the Sixteenth Finance Commission (XVIFC).His appointment comes following the resignation of Ajay Narayan Jha, a full-time Member of the Commission, who stepped down due to personal reasons.The appointment was made under Article 280 of the Constitution and the Finance Commission (Miscellaneous Provisions) Act, 1951, as notified by the Department of Economic Affairs, Ministry of Finance.Sankar will serve as a part-time Member either until the Commission submits its report or till 31 October 2025, whichever is earlier.

 

5. Mathura-Vrindavan Railway Project: The Indian Railway Ministry has permanently closed the Mathura-Vrindavan railway line conversion project. This ambitious undertaking aimed to convert the metre gauge line to broad gauge at an estimated cost of Rs 402 crore. The decision was made due to the project being deemed “uneconomical” and facing opposition from local residents. The conversion project was initiated in 2017-18. It aimed to enhance connectivity between Mathura and Vrindavan. The original metre gauge line was over 100 years old and operated a rail bus service twice daily until early 2023. The project involved dismantling the existing tracks and laying new ones on an embankment.

 

 

INTERNATIONAL UPDATES:

 

1. 8 June – World Brain Tumour Day: World Brain Tumour Day is observed every year on 8th June to raise awareness about brain tumours, support patients and their families, and promote early detection and treatment.Theme 2025 – Brain Health for All AgesThe day was first observed in 2000 by the German Brain Tumour Association (Deutsche Hirntumorhilfe) to honour brain tumour patients and advocate for research and care initiatives.Brain tumours can be either benign (non-cancerous) or malignant (cancerous) and can affect people of all ages. Common symptoms include headaches, seizures, vision problems, and memory loss.

 

2. High Seas Treaty: This treaty, adopted in June 2023, aims to protect and sustainably use biodiversity in international waters. It is step towards achieving the “30×30” biodiversity target, which seeks to conserve 30 per cent of the oceans and lands by 2030. The recent ratifications occurred during the third United Nations Ocean Conference held in Nice, France. The High Seas Treaty was established to address the urgent need for conservation in international waters. These waters, which fall outside any national jurisdiction, cover over 60 per cent of the ocean but currently only 1.2 per cent is protected. The treaty sets out frameworks for sustainable use and conservation measures. At the UN Ocean Conference, countries such as Albania, Fiji, and Vietnam deposited their instruments of ratification. This marks a collective effort to enhance global biodiversity governance. The treaty will enter into force once 60 countries have ratified it, with 120 days required for implementation after that milestone.

 

OTHER UPDATES:

DEFENCE

 

1. Lt Gen Rajiv Ghai Appointed Deputy Chief of Army Staff (Strategy): Lieutenant General Rajiv Ghai has been appointed as the Deputy Chief of Army Staff (Strategy) while continuing to serve as the Director General of Military Operations (DGMO); he had earlier led ceasefire talks with Pakistan’s DGMO after Operation Sindoor.The newly created Deputy Chief (Strategy) position will oversee key verticals like Operations and Intelligence Directorates, making it one of the most pivotal roles in the Indian Army, according to the Ministry of Defence.Lt Gen Ghai was honoured with the Uttam Yudh Seva Medal (UYSM) on June 4, 2025, for his distinguished service, and had earlier praised the Indian Armed Forces’ preparedness during a press briefing on May 12 following the ceasefire announcement.

 

SPORTS 

 

1. Carlos Alcaraz and Coco Gauff Shine at Historic 2025 French Open Finals: Carlos Alcaraz of Spain defeated world No. 1 Jannik Sinner of Italy in a five-hour and 29-minute marathon final to win the 2025 French Open men’s singles title, coming back from two sets down. It was the longest French Open final ever and marked Alcaraz’s fifth Grand Slam title.Coco Gauff of the United States beat world No. 1 Aryna Sabalenka of Belarus to win her first French Open women’s singles title. This was her second Grand Slam win, following her US Open victory in 2023.The 124th edition of the French Open was held from 19 May to 8 June 2025 at Stade Roland Garros in Paris. Played on clay courts, the finals were hosted on Philippe Chatrier Court, with the event taking place after the Australian Open.

 

2. Anahat Singh shines with double honours at PSA Awards 2024-25: India’s 17-year-old squash sensation Anahat Singh won two major honours at the PSA Awards 2024–25: the Women’s Challenger Player of the Season and the Women’s Young Player of the Season (shared with Egypt’s Amina Orfi), marking a standout year on the professional circuit.Throughout the season, Anahat claimed 9 titles in 11 tournaments, including 8 Challenger-level victories across various tiers (3k to 15k). Her impressive run included a 29-match unbeaten streak and a memorable win over veteran Joshna Chinappa at the Indian Open (15k-level).She won the U-17 British Junior Open, secured bronze for India at the Asian Junior Team Championships, and made a stunning senior World Championship debut by defeating World No. 29 Marina Stefanoni. She is now ranked World No. 56, the highest for any Indian female squash player.

 

3. Former India captain MS Dhoni inducted into ICC Hall of Fame: MS Dhoni has been inducted into the ICC Hall of Fame, joining six other global cricket legends including Matthew Hayden and Hashim Amla.He scored 17,266 international runs, effected 829 dismissals, played 538 matches, and led India to three major ICC titles — 2007 T20 World Cup, 2011 ODI World Cup, and 2013 Champions Trophy.The International Cricket Council announced that Dhoni was among seven cricketers honoured this year, which included greats like Matthew Hayden (Australia) and Hashim Amla (South Africa).Dhoni holds several ODI records, including most stumpings (123) and highest score by a wicketkeeper (183*), and continues to play in the IPL even after retiring from international cricket in 2020.

 

SCIENCE AND TECHNOLOGY

 

1. Indian Railways Partners with BHASHINI to Launch Multilingual AI Services for Enhanced Passenger Experience: Digital India Bhashini Division (DIBD) and the Centre for Railway Information Systems (CRIS) signed an MoU to integrate AI-driven multilingual technologies—such as ASR, OCR, TTS, and translation—into major railway platforms like NTES and RailMadad, enabling access in 22 Indian languages.The collaboration aims to develop multilingual chatbots, voice assistants, and over-the-counter interfaces, ensuring real-time, speech-based interaction and enhancing accessibility, efficiency, and transparency in public-facing railway services.The partnership includes scaling BHASHINI’s AI capabilities across websites, mobile apps, kiosks, and call centers, supported by cloud/on-premise infrastructure and a series of joint technical workshops and pilot projects in the coming months.

 

2. New SARS-CoV-2 Variant XFG: The emergence of the XFG variant of SARS-CoV-2 has raised concerns in India. As of June 2025, 163 cases have been reported, primarily in Maharashtra. The total number of active COVID-19 cases in India stands at 6,815, with three deaths recorded in the last 24 hours. The Indian SARS-CoV-2 Genomics Consortium has confirmed the presence of this new variant. The XFG variant is a recombinant strain. It results from the merging of two earlier strains, LF.7 and LP.8.1.2. This variant carries four mutations in the spike protein. It has shown rapid global spread since its initial detection in Canada. The variant is a descendant of the Omicron sub-variant. Maharashtra has reported the highest number of cases at 89. Other states with notable cases include Tamil Nadu (16), Kerala (15), Gujarat (11), and Andhra Pradesh, Madhya Pradesh, and West Bengal (six each). A new case has also been confirmed in Telangana.

 

3. Spathaspina Noohi: Spathaspina noohi belongs to the weevil family, Curculionidae. This family includes over 60,000 species globally. Weevils are for their role in ecosystems. They help control invasive plant species. The new genus name is derived from Latin words – ‘spatha’ meaning sword and ‘spina’ meaning spine. This reflects the beetle’s prominent anatomical feature. Weevils play crucial roles in maintaining ecological balance. Some species are agricultural pests. However, many contribute positively by controlling plant dynamics. The new species, Spathaspina noohi, is part of the subfamily Ceutorhynchinae. This group includes over 1,300 species worldwide. They are primarily found in Europe and parts of Asia. Beetles in the Ceutorhynchinae subfamily are recognised for their compact bodies. They typically retract their snouts between their legs when resting. The visibility of their mesanepimera is another identifying trait. Exceptions exist in some genera, such as Cyphosenus and Ceutorhynchoides.

 

BANKING AND FINANCE

 

1. RBI Raises LTV Ratio for Small Gold Loans to Boost Credit Access and Ease Borrowing Norm: RBI has increased the Loan-to-Value (LTV) ratio for gold-backed loans to provide relief to small borrowers — setting it at 85% for loans up to ₹5 lakh, 80% for loans between ₹2.5–5 lakh, while loans above ₹5 lakh will continue at 75% LTV.No credit appraisal required for small-ticket gold loans (below ₹5 lakh), and end-use monitoring will only apply when these loans are considered under priority sector lending, easing access for small and rural borrowers.The move addresses concerns raised during the draft guideline phase, where NBFCs and the Department of Financial Services had warned that stricter norms might push women, rural borrowers, and small traders towards the informal credit sector.

 

2. Wise Gets RBI Approval to Operate as Cross-Border Payment Aggregator in India: Wise, a global fintech company, has received approval from the Reserve Bank of India (RBI) to operate as a cross-border payment aggregator in the country.With this license, Wise can now facilitate international money transfers for Indian customers and businesses, enhancing ease and transparency in global payments.The approval allows Wise to strengthen its presence in India by offering cheaper and faster cross-border remittance services compared to traditional banking channels.

 

3. RBI Launches ₹1.25 Lakh Prize Scheme to Promote Original Hindi Books on Economics, Banking, and Finance: To promote original research and writing in Hindi on Economics, Banking, and Financial topics, the Reserve Bank of India (RBI) has launched a scheme for the year 2024–25, offering awards to authors of original Hindi books in these fields.Under this scheme, three prizes of ₹1,25,000 each will be awarded to working or retired professors (including Assistant/Associate Professors) from UGC-recognized Indian universities for writing original books in Hindi. Interested participants must submit their nominations and book copies in the prescribed format to the Chief General Manager, RBI, Rajbhasha Department, Mumbai, by 5:00 PM on June 30, 2025.

 

Daily GK Update- 9th June, 2025

 NATIONAL UPDATES:

 

1. Puducherry Assembly Goes Paperless with Launch of NeVA by Union Minister L. Murugan: Union Minister L. Murugan has inaugurated the National e-Vidhan Application (NeVA) in the Puducherry Legislative Assembly, aiming to digitize legislative proceedings.With the implementation of NeVA, the Puducherry Assembly will function paperlessly, promoting efficiency and environmental sustainability.The platform is part of the Ministry of Parliamentary Affairs’ (MoPA) initiative to introduce ‘One Nation – One Application’ across all 37 State and UT legislatures in India.A trial run was successfully conducted during the 6th assembly session, and hands-on training is being provided to both MLAs and government officials for smooth adoption.

 

2. Kiren Rijiju Launches UMEED Central Portal to Digitize and Reform Waqf Property Management Across India: Union Minister Kiren Rijiju launched the UMEED Central Portal in New Delhi, aimed at transforming the management of Waqf properties in India by introducing digital transparency, real-time monitoring, and public accountability.The portal—named after Unified Waqf Management, Empowerment, Efficiency, and Development (UMEED) Act, 1995—enables geo-tagging, digital inventory, online grievance redressal, and GIS-based mapping to ensure efficient and transparent Waqf governance.The initiative is intended to uplift underprivileged sections of the Muslim community, especially women and children, by ensuring proper utilization of community-owned Waqf assets for education, healthcare, and livelihood.

 

3. Amit Shah Launches Bharatiya Bhasha Anubhag to Empower Local Languages: Home Minister Amit Shah has launched Bharatiya Bhasha Anubhag in New Delhi, emphasizing its role as a milestone to free administration from the dominance of foreign languages.The initiative aims to provide a strong, organized platform for all Indian languages, promoting linguistic diversity while encouraging the use of technology that preserves the spirit and richness of these languages.

 

4. Tamil Nadu, Tripura & Delhi Lead in Adult Literacy Certification: FLNAT 2025 Report: According to the Foundational Literacy Numeracy Assessment Test (FLNAT) data, Tamil Nadu, Tripura, and Delhi rank among the top performers in adult literacy certification, while Uttarakhand, Gujarat, and Himachal Pradesh lag behind.FLNAT is a nationwide assessment that evaluates foundational literacy and numeracy skills—reading, writing, and numeracy—of registered non-literate adult learners, with each subject scored out of 50 marks (total 150).The assessment was conducted in phases from July 2024 to March 2025, testing over 1.77 crore adult learners across India; however, only about 34.31 lakh learners (approximately 19.4%) were officially certified by May 2025.Tamil Nadu achieved a 100% certification success rate by certifying all 5,09,694 learners tested; Tripura followed closely with a 98.1% success rate, certifying 13,909 out of 14,179 learners, while Delhi had a 99.3% certification rate.States like Uttarakhand (85.7%), Gujarat (87.1%), and Himachal Pradesh (88.3%) recorded comparatively lower certification rates despite moderate learner participation, indicating challenges in adult literacy certification.

5. Asirvad Microfinance Appoints Roy Varghese as CEO: Kerala-based Asirvad Microfinance, a subsidiary of Manappuram Finance, has appointed Roy Varghese as Chief Executive Officer (CEO) and Unnikrishnan Janardanan as Chief Operating Officer (COO).Roy Varghese brings vast experience in retail and corporate banking, foreign exchange, and financial inclusion, having held leadership roles at Axis Bank, IDBI Bank, Jana Small Finance Bank, and CSB Bank.

 

6. PhonePe appoints former CEO of Standard Chartered Bank Zarin Daruwala: PhonePe has appointed Zarin Daruwala, former CEO of Standard Chartered Bank with over 30 years of banking experience, to its board ahead of its potential IPO.The company, India’s largest mobile payment platform with nearly 50% market share, began preparatory steps for listing on Indian stock exchanges in February 2025.

 

7. Ashwani Lohani Appointed Director of Prime Minister’s Museum and Library: Former Railway Board Chairman and ex-Air India CMD Ashwani Lohani has been appointed as the Director of the Prime Minister’s Museum and Library (PMML) for a three-year term on a contractual basis, with the rank of Secretary to the Government of India.Lohani, a 1980-batch officer of the Indian Railway Service of Mechanical Engineering (IRSME), is celebrated for his turnaround expertise and leadership roles in major public sector undertakings.

 

8. Sat Pal Bhanoo Given Interim Charge as LIC MD & CEO for Three Months: The central government has entrusted Sat Pal Bhanoo, Managing Director at LIC, with the financial and administrative powers of the MD & CEO position after Siddhartha Mohanty’s term ended.Interim tenure duration: Bhanoo will hold the interim charge for three months—from 8 June to 7 September 2025—or until a new permanent MD & CEO is appointed, whichever comes first.

 

INTERNATIONAL UPDATES:

 

1. 8 June – World Oceans Day: World Oceans Day is celebrated every year on 8 June to raise awareness about the crucial role oceans play in sustaining life on Earth and to promote their sustainable management.Theme 2025- Wonder: Sustaining what sustains usThe day was officially recognized by the United Nations in 2008, although it was first proposed at the Earth Summit in Rio de Janeiro in 1992.Oceans cover over 70% of the planet’s surface, generate at least 50% of the oxygen we breathe, and are home to most of the Earth’s biodiversity.

 

2. Genetic Legacy of North Africa in Iberia: Recent studies highlight the deep-rooted genetic connections between Iberia and North Africa. This relationship persisted for centuries until event in history altered it. Researchers analysed ancient DNA from individuals in eastern Spain to understand this genetic lineage, particularly during the periods of Al-Andalus and the Reconquista. The study involved DNA analysis from 12 individuals across three burial sites in Valencia. These samples spanned over a millennium, covering pre-Islamic, Islamic, and post-Reconquista periods. The findings revealed North African genetic markers in all samples, indicating a longstanding connection between the Iberian Peninsula and North Africa. The Islamic conquest intensified the cultural and genetic intermingling between North Africa and Iberia. The researchers noted that the presence of Romance languages in North Africa facilitated this rapid conquest. The genetic data showed that this relationship was not a one-time event but had existed long before 711 CE.

 

3. Growth of Gig Workforce in India by 2047: This will represent about 15 per cent of the total non-agricultural workforce. Technological advancements and changing labour preferences are key drivers of this growth. The VV Giri National Labour Institute conducted a study using data from a 2022 NITI Aayog report. This study indicates doubling of gig workers in the coming years. The gig economy in India began with sectors like ride-sharing and food delivery. It has now expanded into healthcare, education, creative services, and professional consulting. In 2020, over 3 million workers were employed by around 11 platform companies. By 2030, this number is expected to grow to 23 million, making up 7 per cent of the non-agricultural workforce. The VVGNLI study suggests a compounding growth pattern. Under optimistic conditions, the gig workforce could reach 90.8 million jobs by 2047. However, external factors such as technological disruptions and economic shocks could limit growth to 32.5 million. This uncertainty marks the volatility of the gig economy.

OTHER UPDATES:

DEFENCE

 

1. IAF’s Indigenous I-STAR Aircraft: The Indian Air Force (IAF) is poised to enhance its operational capabilities with the upcoming acquisition of I-STAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) aircraft. This Rs 10,000 crore project is set to be approved by the Defence Ministry amidst rising tensions and ongoing military operations. The I-STAR aircraft will empower the IAF to conduct precise strikes on critical enemy targets from safe distances. The I-STAR project involves procuring three advanced aircraft from leading international manufacturers such as Boeing or Bombardier. These aircraft will be equipped with indigenous sensor and electronic systems developed by the Defence Research and Development Organisation (DRDO). The integration of these systems is expected to be swift due to their successful testing. The I-STAR system combines airborne and ground-based components. It is designed to operate at high altitudes from stand-off ranges. This design minimizes risk while enabling the identification and engagement of high-value targets deep within enemy territory. The system’s intelligence, surveillance, targeting, and reconnaissance (ISR) capabilities will enhance India’s military effectiveness.

 

SPORTS 

 

1. MS Dhoni Becomes Brand Ambassador for Dettol’s ‘Icy Cool’ Range: Cricket legend Mahendra Singh Dhoni has been appointed as the brand ambassador for Dettol’s new ‘Icy Cool’ product range, strengthening the brand’s presence in the hygiene and personal care segment.The ‘Icy Cool’ range is designed to provide a refreshing experience and includes hygiene products aimed at offering cooling relief during hot and humid conditions.

 

2. Magnus Carlsen Clinches Seventh Norway Chess Title; Anna Muzychuk Wins Women’s Event: Magnus Carlsen, the Norwegian grandmaster and world No. 1, won his seventh Norway Chess tournament title in Stavanger by finishing with 16 points after a crucial draw against Arjun Erigaisi in the final round.American Grandmaster Fabiano Caruana secured second place with 15.5 points, following a key victory over Indian player D. Gukesh, who finished third with 14.5 points—matching his performance from the 2023 edition.In the Women’s event, Anna Muzychuk from Ukraine won the title, with China’s Lei Tingjie finishing second and India’s Koneru Humpy securing third place.

 

3. Indian Grandmaster Aravindh Chithambaram Clinches Title at 6th Stepan Avagyan Memorial Chess Tournament: Indian Grandmaster Aravindh Chithambaram won the 6th Stepan Avagyan Memorial chess tournament held in Jermuk, Armenia, finishing with 6.5 points from 9 rounds and remaining unbeaten throughout the event.He tied on points with fellow Indian Grandmaster R. Praggnanandhaa but clinched the title by winning on tie-breaks after scoring four wins and five draws in the 10-player round-robin format.In the final round, Aravindh, playing with the black pieces, defeated Armenia’s Aram Hakobyan, while Praggnanandhaa also won his game, marking a strong finish for both Indian players.

 

4. India-England Test Series Renamed as Anderson-Tendulkar Trophy to Honour Cricket Legends: The ECB and BCCI have renamed the India-England Test series as the Anderson-Tendulkar Trophy, replacing the Pataudi Trophy (used in England) and the Anthony de Mello Trophy (used in India).The trophy honours James Anderson (188 Tests, England’s highest Test wicket-taker) and Sachin Tendulkar (200 Tests, the most-capped Test cricketer in history).The Anderson-Tendulkar Trophy will be unveiled on June 11, 2025, at Lord’s during the World Test Championship Final, ahead of the five-Test India-England series starting on June 20 at Headingley.

 

5. Muhammad Waseem and Chloe Tryon Named ICC Players of the Month for May 2025: UAE batter Muhammad Waseem and South African all-rounder Chloe Tryon were awarded the ICC Men’s and Women’s Players of the Month for May 2025 for their outstanding performances.Waseem scored 169 runs in five ODIs during the ICC Men’s Cricket World Cup League 2 and led UAE to a 2-1 T20I series win against Bangladesh, earning Player of the Series honors; this is his second time winning the award.Chloe Tryon scored 176 runs with a strike rate of 131.34 and took six wickets, including a five-wicket haul with a hat-trick against Sri Lanka in the Tri-Nation ODI tournament featuring India and Sri Lanka.

 

SCIENCE AND TECHNOLOGY

 

1. Zudpi Jungle Lands: This decision followed decades of legal disputes regarding the status of approximately 86,000 hectares of these unique shrub forests. The court’s ruling clarified the conditions under which these lands could be used, establishing that prior approval from the central government is necessary for any conversion. Zudpi jungle lands are characterised by bushy growth and are not typically utilised for agriculture. These lands are primarily found in six districts of eastern Vidarbha – Nagpur, Chandrapur, Gadchiroli, Bhandara, Wardha, and Gondia. Traditionally, they have been used for grazing and other non-forest purposes. The status of Zudpi lands has been contentious for decades. Initially classified as Gairan under the Maharashtra Land Revenue Code of 1966, their designation changed over time due to various government orders and legal interpretations. The Forest (Conservation) Act of 1980 imposed restrictions on the diversion of forest lands, complicating the legal landscape further.

 

2. Climate Change Projections and Global Warming Thresholds: The 1.5ºC and 2ºC thresholds are not scientifically definitive but are based on economic considerations and political negotiations. The original 2ºC limit stems from a 1970s economic model by William Nordhaus. The implications of exceeding these thresholds are complex and uncertain. Current climate models struggle to provide accurate long-term predictions due to the unpredictability of future greenhouse gas emissions. Climate models are essential for projecting future warming scenarios. These models rely on assumptions about energy consumption, population dynamics, and policy decisions. The inherent uncertainties in these projections complicate our understanding of potential warming. As a result, predictions beyond 2050 are fraught with speculation.

 

BANKING AND FINANCE

 

1. RBI rejects universal bank licence application of Annapurna Finance: The Reserve Bank of India (RBI) has rejected the universal bank licence application filed by Annapurna Finance. Annapurna Finance was established in 2009 and is now one of the top ten NBFC-MFIs (non-banking finance company-micro finance institution) in the country, according to its website.Currently, Fino Payments Bank has applied for a small finance bank licence, while AU Small Finance Bank (SFB) was the first to file the application for conversion to a universal bank and Ujjivan SFB’s board has approved applying for a universal SFB licence. As on March end, the MFI had Rs. 11,034 crore of loans, 2.9 million clients and 1,636 branches.

 

Daily GK Update- 8th June, 2025

 NATIONAL UPDATES:

 

1. Himachal Pradesh Distributes Steel Bottles to Students to Combat Plastic Pollution: The Himachal Pradesh government has launched an eco-friendly initiative to distribute steel water bottles to school students as a step toward reducing single-use plastic in the state.This move aims to promote sustainable habits among children and raise awareness about plastic pollution and its harmful effects on the environment.The initiative is part of Himachal Pradesh’s broader campaign for environmental conservation, aligning with its goal of becoming a plastic-free state and encouraging responsible consumption practices.

 

2. NDMA’s New Approach to Landslide Disaster Management: Mapping and monitoring are crucial in disaster management. They help identify vulnerable areas and assess risks. NDMA emphasises that these steps are foundational. The real challenge lies in effective mitigation. Accurate mapping enables timely interventions and informed planning. Mitigation involves implementing measures to reduce landslide risks. This includes land use planning to restrict development in high-risk areas. Standards for construction and excavation must be established. Additionally, protective measures like retaining walls and rock anchors are essential. These strategies aim to stabilise slopes and prevent disasters. Significant funding is necessary for effective mitigation programmes. The central government allocated substantial resources to the National Disaster Mitigation Fund. This funding supports various initiatives, including community engagement and recovery efforts. A portion is specifically designated for mitigation activities.

 

3. Dynamic Route Planning for Urban Green Mobility (DRUM) App: Researchers have established that airborne particulate matter can reduce life expectancy by up to five years. Traffic-related pollution is often underestimated, with commuting accounting for a disproportionate share of exposure. To address this, a team from IIT Kharagpur developed the Dynamic Route Planning for Urban Green Mobility (DRUM) web app, which aids users in selecting routes based on air quality and energy efficiency. Air pollution is a critical concern in urban India. Major cities experience severe health impacts due to traffic emissions. Commuters are often unaware of the risks associated with their daily travel. Studies indicate that amount of pollution exposure occurs during commuting hours.

 

INTERNATIONAL UPDATES:

 

1. India, Kyrgyzstan Sign New Bilateral Investment Treaty to Boost Economic Ties and Investor Protection: India and Kyrgyzstan signed and exchanged the Instrument of Ratification for the Bilateral Investment Treaty (BIT) in New Delhi, in the presence of Finance Minister Nirmala Sitharaman and Kyrgyz Foreign Minister Zheenbek Kulubaev Moldokanovich.The new treaty replaces the earlier BIT signed on 12th May 2000 and aims to provide a secure and predictable investment environment for investors from both countries.According to the Finance Ministry, the treaty is a significant step in boosting bilateral economic relations, promoting cross-border investments, and safeguarding the interests of investors in both nations.

 

2. India Launches ‘Ayush Nivesh Saarthi’ Portal to Boost Global Investments in Traditional Medicine and Wellness: The Government of India launched the ‘Ayush Nivesh Saarthi’ portal, during the Ayush Stakeholder Meet in New Delhi, jointly unveiled by Union Ministers Piyush Goyal and Prataprao Jadhav to attract domestic and global investments in traditional medicine and wellness.Developed by the Ministry of Ayush in collaboration with Invest India, the portal serves as an investor-centric digital platform integrating policies, incentives, real-time facilitation, and investment-ready projects to promote the Ayush sector as a modern economic driver.With 100% FDI permitted through the automatic route, the platform aims to capitalize on India’s 8,000+ medicinal plant species and 17% sectoral growth (2014–2020), boosting India’s presence in the USD 13 billion medical value travel market and global wellness economy

 

3. PM Modi Inaugurates World’s Highest Chenab Railway Arch Bridge: Prime Minister Narendra Modi inaugurated the world’s highest railway arch bridge over the Chenab River in Jammu and Kashmir, marking a major achievement in India’s infrastructure development.During his visit, PM Modi inaugurated and laid foundation stones for various rail and development projects worth over ₹46,000 crore in Jammu and Kashmir.The Chenab Railway Arch Bridge and India’s first cable-stayed Anji Khad Railway Bridge are key components of the Udhampur-Srinagar-Baramulla Rail Link, and PM Modi also laid the foundation stone for the Shri Mata Vaishno Devi Institute of Medical Excellence, the first medical college in the Raesi district.

 

4. UNGA Elects Latvia, Bahrain, Colombia, Liberia, and DR Congo as New Non-Permanent Members of UN Security Council for 2026-27: The United Nations General Assembly has elected Latvia, Bahrain, Colombia, Liberia, and the Democratic Republic of Congo as new non-permanent members of the UN Security Council for a two-year term starting January 1, 2026, and ending December 31, 2027.Latvia has been elected to the UN Security Council for the first time, joining countries like Pakistan, Denmark, Panama, Greece, and Somalia, who are current non-permanent members.The UN Security Council consists of 15 members, including five permanent members with veto power: China, Russia, France, the United Kingdom, and the United States.The newly elected countries will replace Slovenia, South Korea, Guyana, Algeria, and Sierra Leone, whose terms end on December 31, 2025.

 

5. 6 June – Russian Language Day: Russian Language Day is celebrated every year on June 6, marking the birthday of Alexander Pushkin, the father of modern Russian literature.It was established by the United Nations in 2010 to promote multilingualism and cultural diversity.Russian is one of the six official languages of the UN, and this day highlights its global significance in diplomacy, literature, and culture.This date marks the birthday of Alexander Pushkin (1799–1837), one of the greatest Russian poets and the founder of modern Russian literature.It was established in 2010 by the UN Department of Public Information.

6. 7 June – World Food Safety Day: World Food Safety Day is observed annually on June 7 to raise global awareness about the importance of food safety and to prevent foodborne illnesses.Theme 2025 – Food Safety: Science in ActionEstablished by the United Nations in 2018, the day encourages governments, organizations, and individuals to work together for safer food systems.Unsafe food causes approximately 600 million cases of foodborne diseases and 420,000 deaths worldwide every year, with children under five being the most affected.

 

OTHER UPDATES:

DEFENCE

 

1. Dassault Aviation and Tata Advanced Systems to Manufacture Rafale Fuselages in India: French aerospace giant Dassault Aviation and India’s Tata Advanced Systems Limited signed four agreements to jointly manufacture the Rafale fighter aircraft fuselage in India, marking the first time this critical component will be produced outside France.Tata Advanced Systems will establish a state-of-the-art production facility in Hyderabad to manufacture key structural sections of the Rafale, with the first fuselage sections expected to be ready by 2028, and a capacity of up to two complete fuselages per month.

 

2. IAF’s Indigenous I-STAR Aircraft: The Indian Air Force (IAF) is poised to enhance its operational capabilities with the upcoming acquisition of I-STAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) aircraft. This Rs 10,000 crore project is set to be approved by the Defence Ministry amidst rising tensions and ongoing military operations. The I-STAR aircraft will empower the IAF to conduct precise strikes on critical enemy targets from safe distances. The I-STAR project involves procuring three advanced aircraft from leading international manufacturers such as Boeing or Bombardier. These aircraft will be equipped with indigenous sensor and electronic systems developed by the Defence Research and Development Organisation (DRDO). The integration of these systems is expected to be swift due to their successful testing.

 

SPORTS 

 

1. Piyush Chawla Announces Retirement from All Forms of Cricket: Star Indian spin bowler Piyush Chawla has announced his retirement from all forms of cricket after a successful 20-year professional career.Chawla, aged 36, represented India in 3 Tests, 25 ODIs, and 7 T20Is, with his last international match being the 2012 T20 World Cup in Sri Lanka.He was part of India’s victorious squads in the 2007 ICC T20 World Cup and the 2011 ICC Cricket World Cup.

 

SCIENCE AND TECHNOLOGY

 

1. Non-Binary AI Chip: China has made leap in artificial intelligence with the deployment of non-binary AI chips. This advancement comes from Professor Li Hongge’s team at Beihang University. They have developed a novel computing approach called Hybrid Stochastic Number (HSN) computing. This innovation aims to address critical limitations in conventional computing. Hybrid Stochastic Number computing merges traditional binary logic with probabilistic logic. Binary systems operate on precise calculations using 1s and 0s, which are energy-intensive. In contrast, stochastic computing uses voltage signal frequencies to represent values, resulting in lower power consumption but often slower performance. The HSN system combines these approaches to achieve a balance of energy efficiency and computational reliability.

 

2. Dugesia Punensis: A groundbreaking discovery was made in Pashan Lake, Pune. A new species of planarian worm, named Dugesia punensis, was identified. This marks the first new planarian species recorded in India since 1983. The findings were published in the Records of the Zoological Survey of India. One of the most notable features of Dugesia punensis is its capacity for regeneration. The flatworm can completely regrow after starving for 15 to 20 days, demonstrating full regeneration within 10 to 13 days. This extraordinary ability makes it a subject of interest in biological research, particularly in the fields of regeneration and developmental biology.

 

BANKING AND FINANCE

 

1. Central Bank of India Acquires Significant Stakes in Future Generali India and Life Insurance for Over Rs 500 Crore: Central Bank of India acquired a 91% stake in Future Generali India for Rs 451 crore and a 25.18% stake in Future Generali India Life Insurance for Rs 57 crore, completing the acquisition, with approvals from CCI, RBI, and IRDAI.Future Generali’s insurance businesses, established in 2006 as joint ventures between Future Enterprises Ltd and Generali Group, showed strong growth, with the general insurance arm posting a 21.06% YoY increase in gross direct premium income to Rs 527.8 crore in FY25.The life insurance division offers a wide range of plans including savings, investment-linked, term, health, child, retirement, rural, and group insurance, with its new business premium nearly doubling in FY25 to Rs 1,192.2 crore, reflecting significant year-on-year growth.

 

2. Private Banks Witness Sharpest Loan Growth Slowdown in FY25: Private-sector banks experienced the sharpest decline in loan growth in FY25, dropping to 9.5% in March after consistently exceeding 15% for the previous three years, while overall credit growth slowed to 11.1% from 15.3% the year before.Retail loans’ share of total credit rose significantly over five years, reaching 31% in FY25 from 24.1% in FY20; despite slowing growth to 13.2%, retail loans—especially consumer durables and personal loans—continued to grow faster than overall credit.

The proportion of individual borrowers in total credit increased from 41.5% in March 2020 to 47.8% in March 2025, with female borrowers’ share also rising gradually from 22.0% to 23.8% during the same period.On the liabilities side, savings deposits’ share declined to 29.1% in March 2025, down from 33.0% two years ago, as many banks cut savings deposit rates to protect net interest margins; meanwhile, the share of fixed deposits with interest rates of 7% or more surged to 72.7%, up from 33.5% two years earlier.

 

3. RBI Cuts Policy Repo Rate by 50 Basis Points to 5.5 %: The Reserve Bank of India (RBI) has cut its policy repo rate by 50 basis points (0.50%) and maintained the growth rate forecast of 6.5 % for the Indian economy in 2025-26.RBI has also announced a staggered 1% cut in the cash reserve ratio (CRR) to 3%. Since February 2025, the RBI has reduced the policy repo rates by 100 basis points or 1%.

 

Daily GK Update- 7th June, 2025

 NATIONAL UPDATES:

 

1. Dynamic Route Planning for Urban Green Mobility (DRUM) App: Researchers have established that airborne particulate matter can reduce life expectancy by up to five years. Traffic-related pollution is often underestimated, with commuting accounting for a disproportionate share of exposure. To address this, a team from IIT Kharagpur developed the Dynamic Route Planning for Urban Green Mobility (DRUM) web app, which aids users in selecting routes based on air quality and energy efficiency. Air pollution is a critical concern in urban India. Major cities experience severe health impacts due to traffic emissions. Commuters are often unaware of the risks associated with their daily travel. Studies indicate that amount of pollution exposure occurs during commuting hours. DRUM is a web application designed to help users choose routes that minimise air pollution exposure. The app offers five route options – shortest, fastest, least exposure to air pollution (LEAP), least energy consumption route (LECR), and a suggested route that balances all factors. This innovative approach aims to enhance urban mobility while prioritising health.

 

2. Zudpi Jungle Lands: This decision followed decades of legal disputes regarding the status of approximately 86,000 hectares of these unique shrub forests. The court’s ruling clarified the conditions under which these lands could be used, establishing that prior approval from the central government is necessary for any conversion. Zudpi jungle lands are characterised by bushy growth and are not typically utilised for agriculture. These lands are primarily found in six districts of eastern Vidarbha – Nagpur, Chandrapur, Gadchiroli, Bhandara, Wardha, and Gondia. Traditionally, they have been used for grazing and other non-forest purposes. The status of Zudpi lands has been contentious for decades. Initially classified as Gairan under the Maharashtra Land Revenue Code of 1966, their designation changed over time due to various government orders and legal interpretations. The Forest (Conservation) Act of 1980 imposed restrictions on the diversion of forest lands, complicating the legal landscape further.

 

3. Lloyds Metals Expands Iron Ore Mining in Maharashtra: The Union Environment Ministry’s Expert Appraisal Committee has recommended environmental clearance for Lloyds Metals and Energy Ltd. This approval allows the company to more than double its iron ore output at the Surjagarh mine in Maharashtra. The output will increase from 10 million tonnes per annum to 26 million tonnes per annum. This decision comes amid the Maharashtra government’s efforts to boost industrialisation in Gadchiroli, an area historically impacted by Maoist violence. The Expert Appraisal Committee reviewed the project and granted clearance with specific conditions. These include compliance with a wildlife management and conservation plan. The mine site is located within the ecologically sensitive Bhamragad Reserve Forest. The committee emphasised the importance of protecting local wildlife and maintaining ecosystem integrity.

 

4. Zyeth Atham: Zyeth Atham, also known as Jyeshtha Ashtami, is celebration for the Kashmiri Pandit community. Observed on the eighth day of Shukla Paksha in the month of Jyeshtha, it typically falls in early June. This festival centres around the veneration of Goddess Kheer Bhawani, revered as a family deity. The main rituals occur at the Kheer Bhawani temple in Tulmulla, Jammu and Kashmir. Goddess Kheer Bhawani is an incarnation of Mata Durga. She is deeply cherished by the Kashmiri Pandit community, who regard her as their Kuldevi. The temple in Tulmulla is not only a spiritual hub but also a historical site, mentioned in ancient texts such as Kalhana’s *Rajatarangini*. The temple is surrounded by chinar trees and built over a sacred spring, which is integral to the festival. The temple features a hexagonal spring that changes colour, reflecting the fortunes of the Valley. Light hues like blue and green signify prosperity, while dark shades indicate impending turmoil. This phenomenon has been observed for generations, linking the community’s fate to the spring’s waters.

 

5. Kerala’s Proposal to Amend Wildlife Protection Act: Wildlife attacks have become a pressing problem in Kerala. Government data shows that from 2016 to early 2025, 919 people lost their lives and nearly 9,000 were injured due to such conflicts. The state has identified 273 out of 941 village local bodies as hotspots for these incidents. The animals involved include tigers, leopards, elephants, and wild boars. Several factors have led to the escalation of human-wildlife conflicts. These include fluctuations in wildlife populations, habitat degradation, and increased grazing of domestic animals in forested areas. Changes in agricultural practices have also played a role. Notably, the rapid population growth of wild boars and monkeys has exacerbated the situation, leading to agricultural losses. Currently, the Wildlife (Protection) Act imposes strict regulations on the culling of protected species. The Kerala government argues that the existing legal framework hampers timely action in emergencies. Before any culling can occur, the chief wildlife warden must verify that an animal cannot be captured or relocated. This process can delay necessary interventions.

 

INTERNATIONAL UPDATES:

 

1. Environmental Crises and Global Responsibility in 2025: The three primary environmental crises are carbon emissions, biodiversity loss, and pollution. Carbon emissions continue to rise, driven by fossil fuel dependency. Biodiversity loss is marked by mass extinctions and habitat destruction. Pollution remains rampant, particularly in air quality, with cities like Delhi consistently ranking among the most polluted globally. Several factors contribute to environmental degradation. Firstly, fossil fuel dependency is a major driver of carbon emissions. In India, coal accounts for nearly 70% of electricity generation. Secondly, deforestation and land-use changes have increased, particularly in ecologically sensitive areas. Thirdly, agricultural practices, particularly monocultures, lead to habitat destruction and water pollution. Additionally, waste mismanagement and urbanisation exacerbate environmental issues. India generates 62 million tonnes of waste annually, with only 20% processed scientifically.

 

2. Genetic Legacy of North Africa in Iberia: Recent studies highlight the deep-rooted genetic connections between Iberia and North Africa. This relationship persisted for centuries until event in history altered it. Researchers analysed ancient DNA from individuals in eastern Spain to understand this genetic lineage, particularly during the periods of Al-Andalus and the Reconquista. The study involved DNA analysis from 12 individuals across three burial sites in Valencia. These samples spanned over a millennium, covering pre-Islamic, Islamic, and post-Reconquista periods. The findings revealed North African genetic markers in all samples, indicating a longstanding connection between the Iberian Peninsula and North Africa. The Islamic conquest intensified the cultural and genetic intermingling between North Africa and Iberia. The researchers noted that the presence of Romance languages in North Africa facilitated this rapid conquest. The genetic data showed that this relationship was not a one-time event but had existed long before 711 CE.

 

3. Climate Change Projections and Global Warming Thresholds: The 1.5ºC and 2ºC thresholds are not scientifically definitive but are based on economic considerations and political negotiations. The original 2ºC limit stems from a 1970s economic model by William Nordhaus. The implications of exceeding these thresholds are complex and uncertain. Current climate models struggle to provide accurate long-term predictions due to the unpredictability of future greenhouse gas emissions. Climate models are essential for projecting future warming scenarios. These models rely on assumptions about energy consumption, population dynamics, and policy decisions. The inherent uncertainties in these projections complicate our understanding of potential warming. As a result, predictions beyond 2050 are fraught with speculation.

 

4. Ocean Protection Funding Needs for 30×30 Target: The global initiative to protect 30 per cent of the oceans by 2030 requires an annual investment of $15.8 billion. This figure is outlined in the report titled “The Ocean Protection Gap – Assessing Progress toward the 30×30 Target.” The report, released by a consortium of NGOs and funders, marks funding shortfall. Currently, only $1.2 billion is allocated annually for ocean protection, leaving a gap of $14.6 billion. This report comes ahead of the United Nations Ocean Conference 3, scheduled for June 2025 in France. Oceans play a critical role in sustaining life on Earth. They produce half the oxygen we breathe and regulate the climate by absorbing heat and storing carbon. The ocean economy contributes approximately $2.6 trillion annually. In 2023, ocean-based sectors accounted for 7 per cent of global trade. Despite their importance, climate stress and policy fragmentation pose threats to ocean health and sustainability.

 

5. China’s Dams and the Brahmaputra River Dynamics: Recent discussions have emerged regarding the impact of Chinese dam projects on the Brahmaputra River. The river is vital for India, particularly Assam and Arunachal Pradesh. Assam’s Chief Minister, Himanta Biswa Sarma, brought into light that portion of the river’s flow originates from India. He noted that even potential reductions in water flow from China might not adversely affect Assam, and could even help mitigate flooding. China has initiated various hydropower projects along the Brahmaputra, primarily located upstream in Tibet. These projects, including the proposed Medog Hydropower Project, are designed for power generation rather than water storage. The Medog project is set to be the world’s largest hydropower facility, surpassing the Three Gorges Dam in capacity. India contributes to over 80% of the Brahmaputra’s water yield despite only covering 34.2% of the basin’s area. The Indian region receives substantial rainfall, averaging 2,371 mm annually, which boosts the river’s yield. The annual monsoon also plays important role in enhancing water flow.

 

6. UNESCO Global Education Monitoring Report 2024-25: The UNESCO Global Education Monitoring Report 2024-25 marks ongoing gender disparities in educational outcomes and leadership roles worldwide. Despite improvements in enrolment rates, gaps persist in learning achievements and the representation of women in top educational positions. The report reveals that boys are falling behind girls in reading proficiency globally. In middle-income countries, the disparity is even more pronounced. The report indicates that for every 100 girls achieving minimum reading proficiency, only 87 boys do. In middle-income nations, this figure drops to 72 boys per 100 girls. This gap is alarming and indicates systemic issues in learning environments, particularly in literacy.

 

OTHER UPDATES:

DEFENCE

 

1. IAF’s Indigenous I-STAR Aircraft: The Indian Air Force (IAF) is poised to enhance its operational capabilities with the upcoming acquisition of I-STAR (Intelligence, Surveillance, Target Acquisition and Reconnaissance) aircraft. This Rs 10,000 crore project is set to be approved by the Defence Ministry amidst rising tensions and ongoing military operations. The I-STAR aircraft will empower the IAF to conduct precise strikes on critical enemy targets from safe distances. The I-STAR project involves procuring three advanced aircraft from leading international manufacturers such as Boeing or Bombardier. These aircraft will be equipped with indigenous sensor and electronic systems developed by the Defence Research and Development Organisation (DRDO). The integration of these systems is expected to be swift due to their successful testing.

 

2. Indian Navy’s First Anti-Submarine Warfare Ship Arnala: The Indian Navy is set to commission its first Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), named Arnala, on 18 June 2025. This event will take place at the Naval Dockyard in Visakhapatnam, presided over by Chief of Defence Staff, General Anil Chauhan. The commissioning of Arnala signifies a major advancement in India’s naval capabilities and reflects the nation’s commitment to self-reliance in defence manufacturing. More than 80% of Arnala’s components are indigenous. It incorporates advanced systems from prominent Indian defence firms such as Bharat Electronics Limited (BEL), L&T, Mahindra Defence, and MEIL. The construction process involved over 55 Micro, Small, and Medium Enterprises (MSMEs), boosting the domestic defence manufacturing sector and contributing to economic growth. Arnala is the first of sixteen ASW-SWC class ships designed and constructed by Garden Reach Shipbuilders & Engineers (GRSE) in collaboration with L&T Shipbuilders. This project is a part of the Public-Private Partnership model. The vessel was delivered to the Indian Navy on 8 May 2025.

 

SCIENCE AND TECHNOLOGY

 

1. Potential Pandemic Threat from Merbecoviruses: Recent studies have raised alarms about a group of bat coronaviruses known as merbecoviruses. These viruses are closely related to the Middle East respiratory syndrome coronavirus (MERS-CoV). Researchers from Washington State University, California Institute of Technology, and the University of North Carolina have found that one subgroup, HKU5, may pose a risk to humans. The findings suggest that a small mutation could enable these viruses to cross species barriers and potentially lead to a new pandemic. Merbecoviruses are a subgenus of coronaviruses. They were largely overlooked until the emergence of MERS-CoV in 2012. MERS-CoV is transmitted from dromedary camels to humans and has a high mortality rate of about 34%. Most merbecoviruses do not appear to threaten human health. However, the HKU5 subgroup has shown concerning traits that warrant further investigation.

 

2. Losgna Occidentalis: Losgna is a genus of wasps known for their parasitic behaviour. The recent study reveals that this genus had not been documented in India since 1965. The solitary specimen was found in an urban dry scrub forest in Chandigarh during the winter of 2023-24. This marks the first formal description of any new insect species from Chandigarh. The newly identified species, Losgna occidentalis, is distinguished by its location. The name “occidentalis” indicates its position as the westernmost known occurrence of the genus. Previous records were primarily from tropical forests in eastern India and Southeast Asia. The discovery adds to the understanding of the geographical distribution of the genus. Taxonomic research is crucial for biodiversity conservation. The study marks the need for continued exploration and documentation of species. The discovery of Losgna occidentalis illustrates how young researchers and citizen scientists can contribute to science. It also emphasises the importance of international collaboration in taxonomic studies.

 

3. Piprahwa Relics: In 1898, a remarkable archaeological discovery was made at Piprahwa, the ancient site of Kapilavastu in Uttar Pradesh. Five caskets, including a crystal casket believed to be over 2,300 years old, were unearthed during excavations. These caskets contained sacred relics associated with Lord Buddha. Recently, the Ministry of Culture announced plans to exhibit these relics for the first time, aiming to enhance public engagement with India’s rich Buddhist heritage. The Piprahwa relics were discovered during an excavation led by William Claxton Peppe. The site contained a sandstone coffer buried 18 feet underground, which housed the relics, including sacred bones and ashes. The discovery was as it linked directly to the Sakya clan, Buddha’s family. The relics were later secured in the Indian Museum, Kolkata, where they remained for over a century.

 

4. Japanese Space Mission Hakuto-R: The recent failure of the Japanese space mission Hakuto-R has brought into light the challenges faced by private space companies in achieving successful lunar landings. The mission, launched by ispace, aimed to land the Resilience lander on the Moon. However, mission control lost communication with the spacecraft during its final descent, leading to a crash landing. This incident marks ispace’s second failed attempt to land on the lunar surface, following a similar fate in 2023. NASA has been actively promoting lunar exploration through its Commercial Lunar Payload Services (CLPS) programme. This initiative encourages private companies to develop capabilities for lunar missions. Several companies, including Astrobotic Technologies and Firefly Aerospace, are part of this programme, denoting a growing interest in lunar exploration.

 

BANKING AND FINANCE

 

1. World Bank Report on Extreme Poverty: India has achieved progress in reducing extreme poverty over the past decade. According to the World Bank, the extreme poverty rate fell from 27.1 percent in 2011-12 to just 5.3 percent in 2022-23. This represents a remarkable shift in the lives of millions of people. The World Bank defines extreme poverty as living on less than 3.00 US Dollars per day, adjusted for 2021 prices. Using the earlier threshold of 2.15 US Dollars per day, the poverty rate fell from 16.2 percent in 2011 to 2.3 percent in 2022. This change reflects the economic realities and inflation adjustments over time. Both rural and urban poverty have seen declines. Rural poverty decreased from 18.4 percent to 2.8 percent. Urban poverty fell from 10.7 percent to just 1.1 percent. This narrowing of the rural-urban poverty gap indicates a more equitable distribution of economic opportunities.

 

2. Urban Consumer Confidence Survey for 2025: The UCCS is a bi-monthly survey aimed at assessing urban households’ views on economic conditions. It evaluates factors such as income, employment, inflation, and spending behaviour. The survey marks rebranding, separating urban insights from the newly introduced Rural Consumer Confidence Survey. Two primary indices emerge from the UCCS – – Current Situation Index (CSI) – This index reflects perceptions of the current economic environment. Recently, the CSI slightly declined to 95.4 from 95.5, remaining below the neutral benchmark of 100. – Future Expectations Index (FEI) – This index gauges optimism about future conditions. The FEI increased to 123.4, up from 122.4, indicating heightened expectations for income and employment in the coming year. While current perceptions of income and employment remained stable, optimism about future earnings is robust. Consumers anticipate improved financial conditions, influencing future spending behaviour. Although there has been a slight dip in current expenditure on both essential and non-essential goods, expectations for increased future spending are evident.