NATIONAL UPDATES:
1. Centre notifies minimum wage ₹300/day under VB-G RAM G: The Central Government has notified revised wage rates under the Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 (VB-G RAM G), which came into force on 1 July 2026, replacing MGNREGA. The national average daily wage has been increased to ₹327.4 from ₹298.8 under the repealed MGNREGA, reflecting an average hike of over 10%. A new interim base wage rate of ₹300 per day has been introduced, ensuring that no notified wage under the scheme falls below this level.
States such as Uttar Pradesh, Bihar, Jharkhand, West Bengal, Assam, Arunachal Pradesh, and Himachal Pradesh have recorded wage increases ranging between 15% and 25% under the revised rates.
2. Eight Traditional Products of Himachal Pradesh Receive GI Tag: Eight traditional products of Himachal Pradesh have been awarded the Geographical Indication (GI) Tag, recognising their unique origin, authenticity, and cultural heritage. With the latest additions, the total number of GI-tagged products from Himachal Pradesh has increased to 17, strengthening the state’s identity in traditional crafts and agricultural products. The newly GI-tagged products are: Seabuckthorn (Spiti), Salooni Safed Makka, Chamba Metal Art, Sirmauri Loiya, Kinnauri Topi, Sepuvadi, Kinnauri Apple, and Kinnauri Jewellery.
3. Odisha Launches ‘Gyanodaya – Shiksharu Samruddhi’ Scheme to Promote Free Education: The Odisha Government has launched the ‘Gyanodaya – Shiksharu Samruddhi’ Scheme, approved by Chief Minister Mohan Charan Majhi, to promote equitable access to education across the state. Under the scheme, eligible students will receive a complete waiver of admission fees, reducing the financial burden on families and encouraging higher enrolment. The initiative supports the Odisha Government’s vision of providing free education from Kindergarten (KG) to Postgraduate (PG) level, ensuring inclusive and affordable education for all.
4. India’s Gross GST Collection Rises 13.9% to ₹1.95 Lakh Crore in June 2026: India’s gross Goods and Services Tax (GST) revenue increased by 13.9% year-on-year to ₹1.95 lakh crore (₹1,94,812 crore) in June 2026, compared to ₹1.71 lakh crore in June 2025. GST collections from domestic transactions rose 6.5% to ₹1,34,774 crore, while GST revenue from imports surged 34.6% to ₹60,038 crore, reflecting strong domestic demand and external trade.
5. IRDAI Grants Registration to Prudential HCL Health Insurance as Standalone Health Insurer: The Insurance Regulatory and Development Authority of India (IRDAI) has granted a Certificate of Registration to Prudential HCL Health Insurance to operate as a standalone health insurance company in India. Prudential HCL Health Insurance is a joint venture in which Prudential Plc holds a 70% stake, while the HCL Group holds the remaining 30% stake through Vama Sundari Investments. The approval was granted during IRDAI’s 136th meeting held on 29 June 2026. It is the third insurance entity to receive registration in 2026, taking the total number of standalone health insurers (SAHIs) in India to 8.
6. IFSCA Proposes ‘One KYC’ Framework for GIFT IFSC to Simplify Customer Onboarding: The International Financial Services Centres Authority (IFSCA) has proposed a ‘One KYC’ framework for GIFT IFSC to simplify and streamline customer onboarding. Under the new framework, customers will need to complete the Know Your Customer (KYC) process only once, allowing the same verified KYC records to be used across multiple IFSCA-regulated financial entities. From 1 September 2026, all new customers in GIFT IFSC must be onboarded through the KYC Registration Agencies (KRA) system, while the KYC records of all existing active customers must be uploaded to the KRA by 30 October 2026.
7. Anupam Misra Takes Charge as CMD of Hindustan Copper Limited: Anupam Misra has assumed charge as the new Chairman and Managing Director (CMD) of Hindustan Copper Limited (HCL), succeeding Sanjiv Kumar Singh. Sanjiv Kumar Singh retired (superannuated) on June 30, after which Anupam Misra officially took over the leadership of HCL.
8. Government Extends Foreign Secretary Vikram Misri’s Tenure by One Year: The Appointments Committee of the Cabinet (ACC) has approved a one-year extension in the tenure of Foreign Secretary Vikram Misri. The extended tenure will be effective from 15 July 2026 to 14 July 2027, ensuring continuity in India’s diplomatic leadership.
INTERNATIONAL UPDATES:
1. HiWiPay Receives IFSCA In-Principle Approval to Set Up PSP Subsidiary at GIFT City: HiWiPay has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to expand its operations in India’s international financial hub. The approval allows HiWiPay to establish a wholly owned Payment Services Provider (PSP) subsidiary at GIFT City (GIFT IFSC).
2. Somnath Ghosh Appointed as India’s Next High Commissioner to Malaysia: The Government of India has appointed Somnath Ghosh, a 1997-batch Indian Foreign Service (IFS) officer, as the next High Commissioner of India to Malaysia. Currently serving as the Consul General of India in Chicago, Somnath Ghosh is expected to assume his new diplomatic assignment in Malaysia shortly, according to the Ministry of External Affairs (MEA).
3. India and Saudi Arabia Sign Water Management Pact: India and Saudi Arabia signed a Memorandum of Understanding on 29 June 2026 for cooperation in water resource management. The pact was formalised during the inaugural Saudi Water Week conference in Jeddah, Saudi Arabia. Water resource management is the planning, development, distribution, and protection of water resources. It includes surface water, groundwater, irrigation systems, and water-use efficiency measures. Dr Suhel Khan, India’s Ambassador to Saudi Arabia, and Eng Abdulrahman Abdulmohsen AlFadley, Saudi Minister of Environment, Water and Agriculture, signed the MoU. Fahad Suri, the Consul General of India in Jeddah, was present at the ceremony on 29 June 2026.
4. WHO Lists First Ebola Bundibugyo Diagnostic Test for Emergency Use: On 2 July 2026, the World Health Organization added the first molecular diagnostic test for Bundibugyo virus to its Emergency Use Listing. The test detects viral genetic material in blood samples and is designed for laboratory confirmation of infection. Bundibugyo virus is one of the species of the genus Ebolavirus and causes Ebola disease in humans. The virus was first identified in Uganda in 2007, and Bundibugyo ebolavirus is distinct from the Zaire ebolavirus strain used in many licensed Ebola therapeutics and diagnostic platforms. The Emergency Use Listing is a WHO procedure for assessing unlicensed medical products during public health emergencies. Molecular diagnostic tests for viral haemorrhagic fevers use nucleic acid detection methods, which identify pathogen RNA or DNA in clinical samples. The commonly used GeneXpert platform and several existing Ebola therapeutics are approved for the Zaire strain and do not effectively target Bundibugyo virus. The new test expands laboratory options for confirmation of Bundibugyo virus disease in outbreak settings.
5. Japan Backs Mumbai-Ahmedabad Bullet Train Target: Japan has reaffirmed cooperation for India to begin commercial operations on priority sections of the Mumbai-Ahmedabad High-Speed Rail project by 2027. The 508-kilometre corridor uses Japanese Shinkansen technology and is planned to introduce E10 trains on the route. The Mumbai-Ahmedabad High-Speed Rail Corridor, also called MAHSR, is India’s first bullet train project. It was launched in 2017 and connects Mumbai in Maharashtra with Ahmedabad in Gujarat. The first operational section is planned between Surat and Bilimora or between Surat and Vapi in Gujarat. This section is targeted for opening by 15 August 2027. Japan is financing 81% of the project cost of about US$17 billion through a 50-year loan at 0.1% interest. The Japan International Cooperation Agency, or JICA, is the agency associated with the loan arrangement. The project uses Shinkansen technology, which is Japan’s high-speed railway system. E10 trains are planned for the corridor as part of the rolling stock plan.
6. Canada Cuts Super Visa Processing Time for Indians: Immigration, Refugees and Citizenship Canada reduced the Super Visa processing time for Indian applicants to 50 days as of 3 July 2026. The earlier processing time was 66 days, and the reduction was 16 days. The 50-day timeline remained within the service standard of 112 days for Super Visa applications. The Super Visa is a Canadian long-stay visa for parents and grandparents of Canadian citizens and permanent residents. It allows multiple entries and is distinct from a regular visitor visa, which is generally issued for shorter stays. Processing time refers to the period taken by an immigration authority to decide an application. A service standard is the target time set by an authority for processing a category of applications. For Indian Super Visa applicants, the current 50-day processing time is below the 112-day service standard used by IRCC.
OTHER UPDATES:
DEFENCE
1. K9 Vajra-T Defence Cooperation: India and South Korea have expanded defence cooperation through the K9 Vajra-T self-propelled howitzer programme. The K9 Vajra-T is an Indian variant of the South Korean K9 Thunder 155 mm self-propelled tracked artillery gun. The K9 Vajra-T is manufactured in India by Larsen & Toubro under a technology transfer agreement with Hanwha Aerospace. The production facility is located at Hazira in Gujarat. The system includes at least 50-60% Indian components. The first contract for 100 K9 Vajra-T guns was signed in May 2017 for ₹4,500 crore. Deliveries were completed ahead of schedule in 2021. A second contract for 100 additional guns was signed in 2024 for ₹7,629 crore. A proposed order for 300 more guns is linked to a ₹23,000 crore modernisation programme.
2. Defence Acquisition Council Clears ₹52,000 Crore Purchases: The Defence Acquisition Council (DAC) granted Acceptance of Necessity for capital acquisition proposals worth about ₹52,000 crore on 3 July 2026. The DAC is the highest decision-making body of the Ministry of Defence for capital procurement and is chaired by the Defence Minister. The Defence Acquisition Council was set up after the Kargil War to speed up defence procurement and reduce delays in acquisition. It deals with capital purchases such as weapons, platforms, sensors, and support systems for the Indian Army, Indian Navy, and Indian Air Force. Acceptance of Necessity, or AoN, is the first formal approval in the defence procurement process under the Defence Acquisition Procedure. It permits the services to begin the next stages of tendering, technical evaluation, and contract finalisation for capital acquisition proposals.
SPORTS
1. Indian soldiers win first World Rowing Cup gold: Indian soldiers Havildars Lakshay and Ujjwal Kumar Singh won India’s first gold medal at a World Rowing Cup on 27 June 2026. The medal came at World Rowing Cup Stage 3 in Lucerne, Switzerland, in the Lightweight Men’s Double Sculls (LM2x) event. The World Rowing Cup is an annual international rowing series organised by World Rowing, the international federation for the sport. The series includes multiple stages held at different venues, and athletes compete in boat classes such as single sculls, double sculls, and coxless fours. Lightweight Men’s Double Sculls, abbreviated as LM2x, is a rowing event in which two rowers compete in a sculling boat. In sculling, each rower uses two oars, and lightweight categories apply body-mass limits fixed by World Rowing regulations.
SCIENCE AND TECHNOLOGY
1. HDFC Bank Launches In-House AI Platform ‘Neev’ and Real-Time Fraud Detection System: HDFC Bank has launched its in-house generative AI platform, Neev, along with a custom real-time fraud detection system to enhance operational efficiency, strengthen cybersecurity, and improve fraud prevention. By developing these technologies internally, HDFC Bank aims to reduce dependence on third-party vendors while tackling the growing threat of digital banking fraud and accelerating its technology-led transformation.
2. LMO Contactless Load Measurement System: India’s Technology Development Board (TDB), under the Department of Science and Technology (DST), provided financial assistance to Puretronics India Private Limited on 30 June 2026 for the commercialisation of its Load Magnetic Overload (LMO) Sensor. The company describes the LMO Sensor as India’s first fully contactless programmable load measurement system. The LMO system measures load through a non-contact magnetic sensing principle. Conventional load cells use mechanical strain gauges, while the LMO system uses magnetic sensors, digital signal processing, and programmable embedded electronics. The system is designed to measure load without direct mechanical contact with the sensing element. The technology is intended for elevators, cranes, hoists, material handling equipment, and cable machinery. These machines require load monitoring for operational control, weight measurement, and equipment management. The system also aims to reduce maintenance and calibration needs in industrial use.
3. Drugs Rules Amended for Cell and Gene Therapies: The Government of India amended the Drugs Rules, 1945, on 2 July 2026 through the Ministry of Health and Family Welfare. The amendment, notified on 29 June 2026 and titled the Drugs (Eighth Amendment) Rules, 2026, brings advanced cell and gene therapies under the Centrally License Approving Authority framework. The Drugs Rules, 1945, were framed under the Drugs and Cosmetics Act, 1940, which regulates the import, manufacture, distribution, and sale of drugs in India. The rules provide procedures for licensing, inspection, testing, labelling, and quality control of pharmaceutical products.
BANKING AND FINANCE
1. UPI Transactions Moderate to ₹28.9 Lakh Crore in June 2026, Register 20% Annual Growth: Unified Payments Interface (UPI) transactions were valued at ₹28.9 lakh crore in June 2026, slightly lower than the record ₹29.9 lakh crore recorded in May 2026. In volume terms, UPI processed 22.72 billion transactions in June 2026, compared to 23.2 billion transactions in the previous month. Despite the monthly moderation, the value of UPI transactions recorded a 20% year-on-year growth, rising from ₹24.03 lakh crore in June 2025 to ₹28.9 lakh crore in June 2026.
2. Four Public Sector Banks Pay ₹9,439 Crore Dividend to Government for FY 2025–26: Four leading public sector banks—Punjab National Bank, Canara Bank, Bank of Baroda, and Indian Bank—paid a combined dividend of ₹9,439 crore to the Government of India for FY 2025–26. The dividend cheques were presented to Nirmala Sitharaman. Among the four banks, Bank of Baroda paid the highest dividend of ₹2,811 crore, followed by Punjab National Bank (₹2,416 crore) and Canara Bank (₹2,397 crore). Indian Bank also contributed its dividend for FY 2025–26, reflecting the strong financial performance of India’s public sector banks.
3. RBI Appoints Ravi Shankar as Executive Director Effective July 1, 2026: The Reserve Bank of India (RBI) has appointed Ravi Shankar as its Executive Director with effect from 1 July 2026. Before his appointment, Ravi Shankar served as Adviser-in-Charge of the Department of Statistics and Information Management (DSIM) and will continue to oversee the department as Executive Director.
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