Daily GK Update- 14th June, 2025

 NATIONAL UPDATES:

 

1. CCEA Approves ₹6,405 Crore Railway Doubling Projects to Boost Connectivity Across Jharkhand, Karnataka, and Andhra Pradesh: The Cabinet Committee on Economic Affairs (CCEA), chaired by PM Narendra Modi, approved two key multi-tracking railway projects worth ₹6,405 crore, under the Ministry of Railways to boost rail infrastructure.The projects include the Koderma–Barkakana doubling (133 km) in Jharkhand and the Ballari–Chikjajur doubling (185 km), spanning parts of Karnataka and Andhra Pradesh, aimed at improving connectivity, especially for coal and freight movement.Together covering 318 km across 7 districts, the projects will enhance line capacity, ease congestion, and benefit 1,408 villages with a population of over 28 lakh, enabling smoother freight and passenger services.These projects, part of the PM Gati Shakti National Master Plan, are expected to handle 49 million tonnes of additional freight per year and ensure seamless multimodal connectivity across regions.

 

2. DGT and Shell India Collaborate to Launch Nationwide Green Skills and EV Training Initiative: The Directorate General of Training (DGT), under the Ministry of Skill Development and Entrepreneurship, in partnership with Shell India and Edunet Foundation, launched a structured green energy and electric vehicle (EV) training program across select NSTIs and ITIs in Delhi-NCR, Gujarat, Maharashtra, Tamil Nadu, and Karnataka.The program features a 240-hour advanced EV Technician course, a 90-hour job-oriented course, and a 50-hour foundational module. It includes hands-on training through specialised EV skill labs, joint certification by Shell and DGT, and Training of Trainers (ToT) for over 250 instructors.This initiative aligns with India’s net-zero goals and schemes like FAME by building a future-ready, climate-conscious workforce. It enhances employability through structured placement support and equips youth to lead in the green economy through practical, industry-relevant skilling.

 

3. Jacinda Ardern Releases Memoir ‘A Different Kind of Power’: Jacinda Ardern, former Prime Minister of New Zealand, has released her memoir titled “A Different Kind of Power”, reflecting on her journey from a small-town upbringing to global leadership while balancing motherhood, crises, and personal burnout.In the book, she candidly explains her resignation in January 2023, revealing that it stemmed from both exhaustion and a belief that her departure might lead to a less polarized, calmer New Zealand and better electoral prospects for her party.

 

INTERNATIONAL UPDATES:

 

1. Israel Launches ‘Operation Rising Lion’ Striking Iran’s Nuclear Sites: Israel launched “Operation Rising Lion” on 13 June 2025, targeting over 100 Iranian nuclear and military sites, including the Natanz nuclear facility; Prime Minister Benjamin Netanyahu declared a national emergency fearing Iranian retaliation.The U.S. denied involvement in the attack and confirmed American and Iranian negotiators will meet in Oman on 15 June 2025 for the sixth round of nuclear programme talks.Top Iranian military and nuclear figures killed, including IRGC commander Hossein Salami, armed forces chief Mohammad Bagheri, and six nuclear scientists such as Fereydoon Abbasi and Mohammad Mahdi Tehranchi.

 

2. 13 June – International Albinism Awareness Day: International Albinism Awareness Day (IAAD) is observed every year on 13th June to raise global awareness about albinism — a rare, genetically inherited condition that affects the production of melanin in the skin, hair, and eyes.

Theme 2025 – Demanding our rights: Protect our skin, Preserve our lives.The day is also dedicated to promoting the human rights and dignity of people with albinism worldwide.The United Nations officially declared June 13 as International Albinism Awareness Day in 2014, through a resolution adopted by the UN General Assembly.

 

3. 14 June – World Blood Donor Day: World Blood Donor Day is observed annually on 14 June to raise awareness about the importance of safe blood donation and to thank voluntary, unpaid blood donors for their life-saving contributions.Theme 2025 – Give blood, give hope: together we save livesThe date commemorates the birth anniversary of Karl Landsteiner, the Nobel Prize-winning scientist who discovered the ABO blood group system.

 

4. 15 June – World Wind Day: World Wind Day is observed every year on 15th June to raise global awareness about wind energy and its potential to power a cleaner, more sustainable future.Theme 2025 – Day of Community ActionThe event is coordinated by WindEurope and the Global Wind Energy Council (GWEC) to educate the public and advocate for supportive wind energy policies.It highlights how wind power can reduce dependence on fossil fuels, cut greenhouse gas emissions, and create sustainable green jobs aligned with global climate goals like Net Zero.

 

5. 15 June – World Elder Abuse Awareness Day: World Elder Abuse Awareness Day (WEAAD) is observed every year on June 15th to raise global awareness about the abuse, neglect, and exploitation faced by older persons.Theme 2025 –Addressing Abuse of Older Adults in Long Term Care Facilities: Through Data and ActionThe day was officially recognised by the United Nations General Assembly in 2011, following its initiation by the International Network for the Prevention of Elder Abuse (INPEA) in 2006.

 

6. 15 June 2025 – Father’s Day: Father’s Day is a global celebration held every year on the third Sunday of June to honor and appreciate fathers, father figures, and the role of paternal bonds in families and society. In 2025, Father’s Day falls on 15 June.The celebration originated in the United States in the early 20th century, with Sonora Smart Dodd of Washington credited as one of the first people to campaign for such a day in 1910.

 

 

OTHER UPDATES:

DEFENCE

 

1. Rudrastra Advanced Hybrid VTOL Drone: The Rudrastra drone represents advancement in India’s military technology. Developed by Solar Aerospace and Defence Limited, it was recently tested by the Indian Army, marking a very important moment in unmanned aerial warfare. This drone combines vertical take-off and landing capabilities with long-range precision strike capabilities. Rudrastra is a hybrid drone designed for battlefield operations. It can take off like a helicopter and fly long distances like a jet. This versatility makes it difficult to detect. The drone is engineered for anti-personnel roles, targeting enemy soldiers with high accuracy.

 

SCIENCE AND TECHNOLOGY

 

1. What is AviList?: AviList, launched on June 12, 2025, serves as the first unified global checklist of bird species. This initiative followed four years of collaborative work by the Working Group on Avian Checklists. The checklist replaces previous lists, including the International Ornithological Committee and Clements lists. It aims to provide clarity and consistency in avian taxonomy, crucial for conservation efforts. AviList compiles a comprehensive list of 11,131 bird species, 19,879 subspecies, 2,376 genera, 252 families, and 46 orders. This extensive classification reflects a global consensus on avian taxonomy. The checklist is published by BirdLife International and is available for free download.

 

BANKING AND FINANCE

 

1. RBI allows KYC updation for low-risk customers till 30 June 2026: RBI has directed all regulated entities to continue processing transactions for low-risk individual customers, but they must ensure KYC details are updated by 30 June 2026 or within one year of due date, whichever is later, especially for accounts linked to DBT, PMJDY, and scholarship schemes.To ensure timely KYC updates, banks must send at least three advance and three post-due reminders, including one by physical letter, and are encouraged to organise special KYC camps in rural and semi-urban areas with high pendency.RBI has permitted the use of Business Correspondents (BCs) to help with KYC updates and activation of inoperative accounts, with provisions for self-declaration in cases where only address or no changes are involved.To enhance ease for customers, banks are advised to expand facilities for KYC updation at all branches (including non-home branches) and through Video-Customer Identification Process (V-CIP), with a deadline for full implementation before January 1, 2026.

 

2. RBI allows trading of state govt securities in STRIPS: RBI has allowed state government securities to be traded in STRIPS format (Separate Trading of Registered Interest and Principal of Securities), enabling traders to separate and trade principal and interest components of bonds individually.This move comes after consultation with state governments, Union Territories, and market participants, aiming to deepen the bond market and enhance liquidity in state government securities.While STRIPS trading in eligible central government securities has been allowed since April 2010, this is the first time it’s being extended to state-level securities.Only fixed-coupon state government bonds with a residual maturity of up to 14 years and a minimum outstanding amount of ₹1,000 crore — and that qualify for Statutory Liquidity Ratio (SLR) — are eligible for STRIPS.

 

3. Scapia & Federal Bank Launch Dual-Network RuPay Credit Card with Zero Forex Markup and UPI Integration: Scapia, in partnership with Federal Bank, has launched the Scapia Federal RuPay Credit Card, a dual-network card offering both Visa and RuPay functionality for online, offline, UPI, and international transactions with a single credit card statement.The card offers zero forex markup on international transactions and includes unlimited domestic airport lounge access, along with complimentary dining, shopping, and spa benefits at airports.Users can earn Scapia Coins as rewards on eligible transactions and access exclusive travel benefits through the Scapia app, which has recently enhanced its features with student/senior fare customisation and improved hotel booking tools.Founded in 2022, the Bengaluru-based fintech raised $40 million in Series B funding (April 2025) and has continued to innovate after previously launching a Visa-only card in 2023. The new dual-network card can now be used in over 150 countries.

 

4. Tata Asset Management Launches Unified Investment App Offering One-Stop Portfolio Tracking and Smart Financial Insights: Tata Asset Management has launched a new mobile app providing a unified view of investors’ financial portfolios, integrating mutual funds, equities, and bank holdings in one dashboard.The app aims to simplify the investment journey with end-to-end support — from onboarding to planning, investing, and tracking — under the theme “One App. One View. Infinite Opportunities.”It offers features like personalised insights, smart tools, and seamless tracking to help users make informed decisions and gain better control over their financial assets.Established in 1994, Tata Asset Management manages Tata Mutual Fund, which currently serves over 59 lakh folios as of April 30, 2025, across equity, debt, and hybrid categories.

 

AWARDS AND HONOURS

 

1. Javed Akhtar honoured with Dostoevsky Star Award for his influence on ‘cultural dialogue’.: Lyricist and writer Javed Akhtar has been awarded the prestigious Dostoevsky Star Award. Javed was chosen for the honour in ‘recognition of his remarkable influence on cultural heritage and literary dialogue.’Considered as one of the greatest screenwriters in the history of Hindi Cinema, Javed has won numerous awards in the course of his decades-long career as a lyricist, poet and screenwriter. He has won five National Film Awards for Best Lyrics.He was also honoured by the Padma Shri by the Government of India in 1999, and the Padma Bhushan in 2007. He went on to win India’s second-highest literary honour- the Sahitya Akademi Award in Urdu for his poetry collection Lava.He is also the only Indian to receive the prestigious Richard Dawkins award, in 2020.

 

2. Dr. Sonal Mansingh Honoured with Srimanta Sankardeva Award for Cultural Contributions in Assam: Sonal Mansingh, a renowned Indian classical dancer and cultural icon, was conferred the Srimanta Sankardeva Award by the Government of Assam in a prestigious ceremony held at Srimanta Sankardeva Kalakshetra, Guwahati, for her exemplary contribution to Indian art and culture.Dr Sonal Mansingh was honoured for her immense contribution to Indian classical dance, social reform and for cultural advocacy.The Srimanta Sankardeva Award, named after the 15th-century saint-reformer, is among Assam’s highest cultural honours and is awarded to individuals who embody Sankardeva’s values of unity, inclusivity, and cultural integrity through their societal contributions.

 

Daily GK Update- 13th June, 2025

 NATIONAL UPDATES:

 

1. Goan Feni Secures GI Tag: First-of-its-Kind Recognition for India’s Iconic Local Spirit: Ozzo Feni, produced by Cazcar Distillery in Nanora village, has become the first-ever feni to receive a Geographical Indication (GI) tag, officially recognizing it as a unique product of Goa, thereby protecting it from imitation and boosting its market value.Feni is a centuries-old Goan spirit made from cashew apples or coconut sap, introduced by Portuguese missionaries in the 1600s. Traditional distillation methods used by bhatikars have now evolved into modern copper pot techniques.The GI tag places Goan feni in the league of global spirits like Scotch whisky and Champagne, with strict adherence to sourcing from Goa and production in certified equipment like stainless steel, copper, or glass, enhancing its domestic and international identity.

 

2. Punjab Government Launches ‘FastTrack Punjab Portal’ to Accelerate Industrial Approvals and Boost Ease of Doing Business: Punjab Government launched the FastTrack Punjab Portal to streamline industrial approvals and reduce bureaucratic delays, ensuring investors get time-bound clearances with a guaranteed approval timeline of 45 days. If missed, deemed approval is automatically granted.The portal features a strong accountability mechanism, where delays are escalated to the Chief Secretary and trigger internal inquiries against responsible officials.The portal offers a Single-Window Clearance System, integrated with the Invest Punjab Portal, to issue statutory approvals like CLU, fire safety, forest, and pollution certificates within 15 days using just one stamp paper.Key reforms include self-certification for compliance, coverage of investments up to ₹125 crore under the expanded Right to Business Act, and the disbursal of ₹150 crore in industrial incentives since April 2025, with a target of ₹250 crore by June 2025.

 

3. Dept of Posts introduces ‘Gyan Post’ to deliver educational books at affordable rates: The Department of Posts has launched ‘Gyan Post’, a dedicated postal service aimed at delivering educational, cultural, social, and religious books at affordable rates, supporting the objectives of the New Education Policy (NEP).Gyan Post ensures nationwide accessibility, including rural and remote areas, with charges starting from ₹20 for up to 300 grams and going up to ₹100 for up to 5 kilograms, excluding taxes.The service includes a tracking facility for transparency and is available at all post offices across India; for more details, customers  or contact their nearest post office.

 

4. SCCL Signs MoU with IMMT to Explore Rare Earth Elements and Enter Critical Minerals Sector: Singareni Collieries Company Limited (SCCL) has signed an MoU with the Institute of Minerals and Materials Technology (IMMT), Bhubaneswar to explore and produce critical minerals found in Singareni mines using advanced and eco-friendly technologies.This MoU marks SCCL’s formal entry into the critical minerals sector, with a focus on extracting rare earth elements (REEs) like lanthanum, cerium, yttrium, and dysprosium from both open-cast mines and fly ash from its thermal power plant.Preliminary surveys by SCCL and Geological Survey of India (GSI) confirm the presence of REEs in Durgam Gutta block near Manuguru, with applications in electronics, lasers, glass, magnetic materials, and various industrial uses.IMMT will provide technical expertise and ensure environmentally sustainable methods for mineral extraction, reinforcing India’s strategy for critical mineral self-reliance and clean-tech development.

 

INTERNATIONAL UPDATES:

 

1. India slips to 131st position in Global Gender Gap Index 2025: India ranked 131st out of 148 countries in the Global Gender Gap Index 2025, slipping from its previous rank of 127 in 2024, according to the World Economic Forum (WEF) report.The ranking reflects a decline in gender parity across key areas like economic participation, educational attainment, health and survival, and political empowerment.Despite progress in female political representation, India continues to face wide gaps in labour force participation, wage equality, and access to leadership roles for women.The report noted that India’s gender gap in economic participation and opportunity remains one of the widest globally, dragging down its overall score.Iceland topped the index for the 15th consecutive year, followed by countries like Finland, Norway, and New Zealand, while India lags behind neighbours like Bangladesh (24th), Bhutan (119th), Nepal (125th) and Sri Lanka (130th).

 

2. 12 June – World Day Against Child Labour: World Day Against Child Labour is observed every year on 12 June to raise awareness about the global issue of child labour and to encourage efforts to eliminate it in all forms.The day was launched by the International Labour Organization (ILO) in 2002 to highlight the plight of millions of children forced into labour and to push for international commitment and action.Theme 2025 – Progress is clear, but there’s more to do: let’s speed up efforts

 

OTHER UPDATES:

DEFENCE

 

1. First Indian & US Special Forces Exercise ‘Tiger Claw’ Concludes: The first-ever joint military exercise “Tiger Claw” between the Indian Air Force’s Special Forces (Garud) and the United States Air Force Special Forces was held across North India concluding at the Garud Regimental Training Centre.The Tiger Claw exercise marks the first collaboration between the Air Forces’ Special Forces of India and the U.S., aimed at enhancing interoperability, sharing best practices in Special Operations, and strengthening bilateral military ties.India and the U.S. already conduct other bilateral Special Forces exercises such as Vajra Prahar (Indian Army & U.S. Army) and Sangam (Indian Navy MARCOs & U.S. Navy SEALs); Tiger Claw adds the Air Force Special Forces dimension to this growing defence cooperation.

 

2. France to Host 8th Edition of Indo-French Military Exercise ‘Shakti’ at La Cavalerie: France will host the 8th edition of the India-France joint military exercise “Shakti” from 18 June to 1 July 2025 at La Cavalerie. The 7th edition was held in Umroi, Meghalaya (India) in May 2024.Exercise Shakti, launched in 2011, is a biennial exercise alternately hosted by both nations. It aims to enhance interoperability and joint capability in sub-conventional operations like counter-terrorism.The joint exercise will strengthen cooperation between Indian and French armies, promoting multi-domain operational coordination and deepening military diplomacy between the two countries.

 

SPORTS 

 

1. Portugal beats Spain to win the 2024/25 UEFA Nations League Title: Portugal won their second UEFA Nations League title by defeating Spain in a thrilling final held at the Allianz Arena in Munich, Germany, via a dramatic 5-3 penalty shootout after a 2-2 draw in regular and extra time.Cristiano Ronaldo set a new world record by becoming the oldest player to score a goal in an international men’s football match, scoring in both the semi-final against Germany and the final against Spain.Portugal reached the final after beating host nation Germany 2-1, while Spain thrashed France 5-1 in the other semi-final to set up a clash of former UEFA Nations League champions.

 

SCIENCE AND TECHNOLOGY

 

1. India Hosts ITU FG-AINN Meeting to Advance AI-Native Telecom Networks: India hosted the 3rd meeting of the ITU-T Focus Group on AI-Native for Telecommunication Networks (FG-AINN) in New Delhi, marking a key step in advancing AI-native telecom infrastructures globally.The event was organized by the Telecommunication Engineering Centre (TEC), the technical arm of the Department of Telecommunications (DoT), in collaboration with the International Telecommunication Union (ITU).India used the platform to seek support for its bid to host the ITU Plenipotentiary Conference 2030 (PP-30), continue as a member of the ITU Council (2027–2031), and back Ms. M. Revathi as the first woman and regional candidate for Director of ITU Radiocommunication Bureau (2027–30).The FG-AINN, established by ITU-T Study Group 13 in July 2024, focuses on redefining network architecture to be AI-native, aiming to revolutionize the telecom landscape with smarter, more adaptive communication networks.

 

BANKING AND FINANCE

 

1. Sebi mandates verified ‘@valid’ UPI handles to tackle payment fraud: To curb payment fraud and impersonation, SEBI has mandated the use of verified ‘@valid’ UPI handles for all registered intermediaries like brokers, mutual funds, and investment advisors, effective October 1, 2025.Verified UPI handles (e.g., abc.bkr@validhdfc, xyz.mf@validhdfc) will feature a green ‘thumbs up’ icon for easy visual authentication, especially helping non-English speaking investors identify genuine payment accounts.Only banks can issue ‘@valid’ UPI IDs after verifying intermediaries via SEBI’s portal, ensuring that only authorized entities can receive investor funds; this shift will affect 8,000–9,000 intermediaries.Existing SIPs remain unaffected, but new investments must use the ‘@valid’ UPI handles. SEBI will also launch a 2-year investor awareness campaign and introduce a ‘SEBI Check’ tool to verify UPI IDs and bank details of intermediaries.

 

2. DFCC Bank’s Green Bond Debut: First Foreign Corporate Issuer at GIFT IFSC: Sri Lanka’s DFCC Bank PLC became the first foreign corporate to list green bonds on the NSE International Exchange (NSE IX) at GIFT IFSC, with a value of LKR 2.5 billion, aimed at financing solar energy projects.These bonds represent Sri Lanka’s first capital market debt instruments exclusively dedicated to renewable energy, supporting the country’s ambitious target of generating 70% of electricity from renewable sources by 2030.The listing aligns with the IFSCA’s vision to develop GIFT IFSC as a global hub for green and sustainable finance, particularly benefiting the Global South in addressing climate goals.NSE IX, launched in 2017, holds over 99% market share in GIFT IFSC, and this landmark issuance highlights its growing role in hosting innovative financial products from both domestic and international players.

 

3. Retail Inflation Drops to 2.82% in May, Lowest Since Feb 2019: India’s retail inflation fell to 82% in May 2025, down from 3.16% in April, marking the lowest year-on-year inflation rate since February 2019, mainly due to easing food prices.Food inflation dropped significantly to 0.99%, the lowest since October 2021, with rural food inflation at 0.95% (down from 1.85%) and urban food inflation at 0.96% (down from 1.64%).The decline in overall inflation was largely driven by reduced price pressures on pulses, vegetables, fruits, cereals, sugar, eggs, and household goods, coupled with a favourable base effect, as per the Ministry of Statistics and Programme Implementation.

 

Daily GK Update- 12th June, 2025

 NATIONAL UPDATES:

 

1. CAQM, CSIR-CRRI, SPA sign MoU to reduce dust pollution via urban road redevelopment: The Commission for Air Quality Management (CAQM) signed a Memorandum of Understanding (MoU) with CSIR-Central Road Research Institute (CSIR-CRRI) and School of Planning and Architecture (SPA), New Delhi, to tackle dust pollution through urban road redevelopment.Focus on Dust Pollution Control: The collaboration targets the implementation of a standardized framework for urban road redevelopment, including paving and greening of sidewalks and pathways to reduce dust levels in Delhi-NCR.Project Monitoring Cell Setup: The MoU includes establishing a Project Monitoring Cell (PMC) at CAQM, with facilitation from CSIR-CRRI and SPA, to ensure phased and efficient implementation of road redevelopment strategies across NCR States.

 

2. Covrzy and NammaYatri join forces to provide health coverage to gig workers: Bengaluru-based insurance-tech startup Covrzy has collaborated with Namma Yatri to provide affordable and accessible health insurance to auto and cab drivers and their families across India.Covrzy’s health insurance offerings will be embedded directly into the Namma Yatri driver app, enabling drivers to compare, purchase, and manage insurance policies digitally with ease, including features like claim requests, policy downloads, and network hospital listings.The initiative will initially cover over 3,000 drivers in Bengaluru and is planned to expand to more than 50,000 drivers across multiple cities like Kolkata, Chennai, Kochi, and Bhubaneswar within 12–18 months.a

 

3. Andhra Pradesh Govt to Disburse ₹8,745 Crore Under ‘Talliki Vandanam’ Scheme as TDP Marks One Year in Power: The Andhra Pradesh government will disburse ₹8,745 crore under the ‘Talliki Vandanam’ scheme, providing ₹15,000 annually to mothers of school-going children, benefiting around 67 lakh students.The scheme, approved by CM N. Chandrababu Naidu coincides with the TDP-led coalition government’s first anniversary, and is considered a key component of Naidu’s “Super Six” welfare agenda.The benefit will cover students from Class 1 to Intermediate First Year, with the amount credited directly to the mothers’ bank accounts after admission data is finalized.

 

4. Sumit Madan Appointed as MD & CEO of Axis Max Life Insurance: Max Financial Services Ltd has announced the appointment of Sumit Madan as the new Managing Director and CEO of Axis Max Life Insurance Ltd, effective from October 1, 2025, following the retirement of current CEO Prashant Tripathy on September 30, 2025. His appointment is subject to shareholder and IRDAI approval.Sumit Madan, currently the Chief Distribution Officer at Axis Max Life, has over 25 years of experience in the banking and financial services sector. He previously played a key role at IDFC FIRST Bank, where he helped expand the branch network and achieve a CASA ratio of over 50%.

 

5. FSIB Recommends R Doraiswamy as Next CEO & MD of LIC, to Succeed Interim Chief Sat Pal Bhanoo: The Financial Services Institutions Bureau (FSIB) has recommended R Doraiswamy as the new CEO and MD of Life Insurance Corporation of India (LIC), after evaluating four candidates on performance, experience, and other criteria.Doraiswamy, who has been serving as MD at LIC since September 1, 2023, brings over 30 years of experience across operations, marketing, technology, and academics; he previously worked at National Insurance Academy and currently holds multiple directorships.He is expected to succeed Sat Pal Bhanoo, the interim CEO & MD (appointed on June 8, 2025), who is set to serve till September 7, 2025, following the tenure of former CEO Siddhartha Mohanty.

 

6. Mohd. Arif Khan Appointed Deputy CEO of SBI General Insurance: Arif Khan has been appointed as the Deputy Chief Executive Officer (Dy. CEO) of SBI General Insurance, bringing over two decades of experience in the banking industry.He started his career in 2000 as a probationary officer at State Bank of India (SBI) and has since held senior roles in retail banking, core banking systems, and strategic training.Prior to this appointment, he served as the General Manager, Network-I, at SBI’s Local Head Office in Thiruvananthapuram, showcasing strong leadership in network management.

 

INTERNATIONAL UPDATES:

 

1. 10 June – International Day for Dialogue among Civilizations: The International Day for Dialogue among Civilizations is observed every year on June 10, with the aim of promoting understanding, tolerance, and open dialogue between cultures, communities, and civilizations around the world.

The day was proclaimed by the United Nations in 2001, in response to increasing global tensions and cultural misunderstandings, encouraging nations to replace the “clash of civilizations” with conversations that foster peace and cooperation.

 

2. 12 June – World Day Against Child Labour: World Day Against Child Labour is observed every year on 12 June to raise awareness about the plight of child labourers worldwide and to promote efforts to eliminate child labour in all its forms.Theme 2025 – Progress is clear, but there’s more to do: let’s speed up effortsThe day was established by the International Labour Organization (ILO) in 2002 to highlight the need for global action against child labour, which deprives children of their childhood, education, and potential.The observance aims to encourage governments, organizations, and individuals to take decisive steps to combat child labour by enforcing laws, improving education access, and supporting families economically.

 

 

 

OTHER UPDATES:

DEFENCE

 

1. India’s 1st Underwater Museum to be Built Around INS Guldar in Maharashtra: India’s first underwater museum and artificial coral reef will be developed around the decommissioned warship INS Guldar near Nivati Rocks at Vengurla in Sindhudurg district of Maharashtra.The initiative, supported by the central government, aims to boost marine conservation and tourism, offering scuba diving and future submarine tours. The Union Tourism Ministry has approved 46.91 crore rupees for the project.The ship, weighing 1,120 tons, was decommissioned in January 2024. It has been officially handed over by the central government to the Maharashtra Tourism Development Corporation for conversion into a submerged museum.

 

2. Indian Army Joins 22nd Multinational Khaan Quest Exercise in Mongolia with 40-Member Contingent: A 40-member Indian Army contingent, including personnel from the Kumaon Regiment and three women (one officer and two soldiers), has arrived in Ulaanbaatar, Mongolia, to take part in the 22nd edition of the multinational military exercise Khaan Quest, scheduled from 14 to 28 June 2025.Khaan Quest, co-sponsored by the United States Indo-Pacific Command and the Mongolian Armed Forces, began as a bilateral exercise in 2003 and became a multinational event in 2006, with India participating since then.The exercise aims to enhance interoperability for UN peace operations (Chapter VII) through drills in joint operations, counter-IED tactics, evacuation of civilians, cordon and search, and checkpoint establishment, promoting cooperation among participating nations’ armed forces.

 

SCIENCE AND TECHNOLOGY

 

1. Ocean Darkening: Recent studies reveal alarming trends in ocean health. Research indicates that over 20% of the global ocean has darkened in the past two decades. This phenomenon poses serious threats to marine ecosystems and overall planetary health. Ocean darkening refers to the reduction of light penetration in the photic zones. These zones are vital as they support photosynthesis, which is essential for marine life. The photic layer can extend up to 200 meters deep and is crucial for maintaining biodiversity. The study employed satellite data and advanced modelling techniques. Researchers measured changes in light absorption using the diffuse attenuation coefficient (Kd 490). Between 2003 and 2022, 21% of the global ocean experienced darkening. Particularly, 9% saw a reduction in photic zone depth exceeding 50 meters.

 

BANKING AND FINANCE

 

1. Razorpay and RateGain Join Forces to Transform Hotel Payments with AI-Driven, Secure Digital Solutions: RateGain Travel Technologies has partnered with Razorpay to revolutionize hotel payments in India by integrating Razorpay’s secure and flexible payment gateway into RateGain’s hotel booking engine, providing guests with a seamless and intelligent digital payment experience.With the Indian travel and hospitality market projected to reach $125 billion by 2027 and over 70% of hotel bookings expected to happen online, the partnership aims to meet the growing demand for secure, frictionless, and automated digital payment solutions in the industry.

Razorpay’s platform, compliant with PCI DSS Level 1 and SOC 3 standards, brings advanced fraud detection and payment security tools, while RateGain leverages AI-driven automation to enhance decision-making and further streamline the guest experience.

 

2. RBI to Discontinue Daily Variable Rate Repo Auctions from June 11 Amid ₹3 Lakh Crore Liquidity Surplus: The Reserve Bank of India (RBI) has announced that it will discontinue daily Variable Rate Repo (VRR) auctions from June 11, 2025, due to a significant liquidity surplus in the banking system, which currently stands at around ₹3 lakh crore.The decision follows weak demand for daily VRR operations, with banks borrowing only ₹3,711 crore and ₹3,853 crore on June 9 and 10 respectively, against a notified ₹25,000 crore—signaling that banks do not need daily support under current surplus conditions.Daily VRR auctions were introduced on January 16, 2025, to manage temporary liquidity tightness caused by tax outflows and forex interventions, but with easing liquidity and declining overnight market rates, the RBI is now focusing on stabilizing money market dynamics.While daily VRRs are being discontinued, the RBI is expected to continue 14-day VRR auctions to handle short-term liquidity needs. This move follows a 100 bps CRR cut to 3.0%, aimed at injecting ₹5 lakh crore into the banking system, aligning with the RBI’s calibrated and neutral policy stance.

 

Daily GK Update- 11th June, 2025

 NATIONAL UPDATES:

 

1. India’s First E-Waste Eco Park to Be Built in Delhi’s Holambi Kalan under PPP-DBFOT Model: Delhi’s Environment Minister Manjinder Singh Sirsa announced the development of India’s first electronic waste (e-waste) eco park in Holambi Kalan, North Delhi, to be built on 11.4 acres under the Public-Private Partnership (PPP) model and the Design, Build, Finance, Operate, and Transfer (DBFOT) approach for a concession period of 15 years.The facility will process up to 51,000 tonnes of e-waste annually, covering all 106 categories listed under the E-Waste Management Rules, 2022, and is expected to generate over ₹350 crore in revenue.The eco park will feature dedicated zones for dismantling, refurbishing, plastic recovery, a second-hand electronics market, and skilling centres aimed at formally training informal workers currently engaged in hazardous e-waste handling.Expected to be completed within 18 months, the project will create over 1,000 green jobs and serve as a symbol of Delhi’s transition to a circular economy, where no resource is wasted and no worker is left behind.

 

2. Assam Considers Expulsion Law for Illegal Migrants: Assam’s Chief Minister Himanta Biswa Sarma announced plans to utilise the Immigrants (Expulsion from Assam) Act of 1950. This law allows for the direct expulsion of illegal migrants without court involvement. The initiative aims to address ongoing concerns about illegal immigration in Assam, particularly from Bangladesh. The Immigrants (Expulsion from Assam) Act was enacted on 1 March 1950. It emerged in response to the influx of migrants from East Bengal following the Partition of India in 1947. This movement was driven by communal violence and socio-political instability. The Act grants the Central Government the authority to expel individuals deemed harmful to public interest or the rights of Scheduled Tribes.

 

3. Smart Cities Mission SPVs: The initiative aimed to encourage innovation and improve infrastructure in selected cities. By March 2025, the SCM had achieved remarkable progress, with over 93% of its 8,000 projects completed and nearly 99.44% of its ₹48,000 crore budget disbursed. This success is attributed to the establishment of Special Purpose Vehicles (SPVs) and Integrated Command and Control Centres (ICCCs) in 100 cities. SPVs were created under the Companies Act, 2013. They are joint ventures between State/UT governments and Urban Local Bodies (ULBs). The SPVs manage the implementation of SCM projects. They have demonstrated agility and innovation in delivering complex urban projects. The collaboration has strengthened institutional capacity in urban management.

 

4. 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. The project was expected to incur costs of Rs 402 crore. A contract worth Rs 191 crore was awarded in February 2023 for the conversion work. Another contract for Rs 38 crore was designated for constructing station facilities. Significant financial resources had already been invested before the project’s cancellation.

 

INTERNATIONAL UPDATES:

 

1. Bangladesh Removes Sheikh Mujibur Rahman’s Image from Banknotes for First Time in 50 Years: For the first time since 1971, Sheikh Mujibur Rahman’s image has been removed from Bangladesh’s banknotes, with the new designs showcasing Hindu and Buddhist temples, national artwork, and cultural landmarks — reflecting a shift from political iconography to heritage-focused imagery.The redesigned currency (Tk 1000, Tk 50, Tk 20) was introduced by the interim government led by Nobel Laureate Muhammad Yunus, following the ouster of former PM Sheikh Hasina, and aligns with the administration’s aim to depoliticize national symbols.The currency overhaul coincides with heightened political tension, including Sheikh Hasina’s indictment over the 2024 student protest crackdown, her exile to India, and the banning of the Awami League — marking a broader transformation in Bangladesh’s governance and national narrative.

 

2. World Bank Retains India’s FY26 Growth at 6.3% Amid Global Trade Tensions and Slowing Economy: The World Bank has retained India’s FY26 economic growth projection at 6.3%, down from its earlier January estimate of 6.7%, citing rising tariffs and policy uncertainty as significant global headwinds.Despite a strong 7.4% growth in Q4, India’s overall FY25 growth stood at 6.5%, the slowest since the COVID-19 period, due to global trade disruptions and slowing demand.The World Bank lowered its global GDP growth forecast to 2.3%, the weakest pace since 2008 (excluding global recessions), warning that prolonged uncertainty could severely impact living standards worldwide.

 

3. IOB Launches ‘Locate IOB’ Online Tool to Help Customers Find Nearest Branches, ATMs & Offices Easily: Indian Overseas Bank (IOB) has launched an online tool called “Locate IOB” to help customers easily find the nearest branches, ATMs etc. The tool provides access to branch addresses, directions, IFSC codes, and even allows users to directly call a branch from the website, enhancing convenience for tech-savvy customers.IOB has also created mini-websites for each branch location, catering to the growing mobile and internet user base in India and improving local banking accessibility.

 

4. Poonawalla Fincorp Launches ‘Business Loan 24/7’ for MSMEs with Fully Digital: Poonawalla Fincorp Ltd (PFL) has launched Business Loan 24/7, a fully digital loan solution aimed at meeting the credit needs of MSMEs through a Straight Through Processing (STP) model, eliminating branch visits and physical paperwork.The product uses advanced analytics and a robust risk assessment framework, relying on direct digitised data like GST info and credit bureau records to improve the credit evaluation of MSMEs and self-employed individuals.

 

5. 11 June – International Day of Play: The International Day of Play is celebrated globally on June 11 to recognize and promote the fundamental right of every child to engage in play for healthy development and well-being.Theme 2025 – Choose Play – EverydayThe day highlights how play contributes to children’s learning, creativity, physical health, emotional strength, and social skills, making it essential in homes, schools, and communities.In 2024, the United Nations officially recognized June 11 as the International Day of Play, following campaigns by organizations like LEGO Foundation, UNICEF, and Save the Children.

 

6. 9 June – World Accreditation Day: World Accreditation Day is observed every year on June 9 to raise awareness about the importance of accreditation in improving quality, safety, and trust across various sectors like healthcare, education, industry, and trade.Theme 2025– Accreditation: Empowering Small and Medium Enterprises (SMEs) The day is jointly established by the International Accreditation Forum (IAF) and the International Laboratory Accreditation Cooperation (ILAC) to promote the value of accreditation worldwide.

 

OTHER UPDATES:

DEFENCE

 

1. DRDO transfers technologies of nine systems to 10 industries: Defence Research and Development Organisation’s Vehicle Research and Development Establishment (VRDE) in Ahilyanagar, Maharashtra, has transferred technologies of nine defence systems to 10 Indian industries.The systems include the Chemical, Biological, Radiological, Nuclear (CBRN) Recce Vehicle, Mounted Gun System, Anti-Terrorist Vehicle, and Vajra-Riot Control Vehicle, among others.The technology transfer ceremony was attended by DRDO Chairman Dr. Samir V Kamat.​ Speaking on the occasion, Dr Kamat complimented DRDO and the industry for the exceptional performance of indigenous systems during Operation Sindoor. VRDE also signed a memorandum of understanding with COEP Technological University, Pune, to collaborate on emerging technologies.

 

SPORTS 

 

1. Nicholas Pooran Announces Retirement from International Cricket: Nicholas Pooran, one of West Indies’ most explosive T20 batsmen and record-holders, has announced his retirement from international cricket, marking the end of a notable career in the West Indies jersey across formats.Nicholas Pooran has not represented his country in the Tests, but has played 61 ODIs scoring 1,983 runs at an average of 39.66 with three centuries at a strike rate of 99.15.He also has represented in 106 T20 internationals scoring 2275 runs at an average of 26.14 with 98 being his highest score. His strike rate in T20Is is 136.39. He has also taken 6 wickets in ODIs.Representing Lucknow Super Giants in the just concluded IPL, Nicholas Pooran has hit the most number of sixes in the tournamnet viz. 40.

 

2. Priyanka Goswami Wins Gold at Austrian Racewalking Championships: Priyanka Goswami clinched gold in the women’s 10km race at the Austrian Racewalking Championships in Innsbruck with a time of 47:54, marking her first win of the seasonIn the men’s 35km event, Sandeep Kumar won silver with a time of 2:38:45, while Ram Baboo secured bronze with 2:41:47; the gold was taken by Jaromír Morávek (Czech Republic).Sandeep Kumar, a Tokyo Olympian and national 50km record holder, and Ram Baboo, India’s 35km record holder, continue to establish India’s strength in international racewalking.

 

SCIENCE AND TECHNOLOGY

 

1. Nuclear Fusion Breakthrough in Germany: Scientists in Germany have recently made strides in this field. The Wendelstein 7-X reactor in Greifswald has set a new record by sustaining a fusion plasma for 43 seconds. This achievement is a notable leap towards harnessing fusion as a viable energy source. Nuclear fusion is the process where light atomic nuclei combine to form heavier nuclei, releasing vast energy. This reaction powers the Sun and has the potential to provide clean, limitless energy on Earth. Unlike nuclear fission, which splits heavy atoms and produces harmful waste, fusion promises minimal environmental impact. The Wendelstein 7-X is the world’s largest operational stellarator. It utilises powerful external magnets to confine superheated plasma. The reactor achieved temperatures exceeding 20 million degrees Celsius, peaking at 30 million. This performance led to a record high triple product, important measure of fusion efficiency.

 

BANKING AND FINANCE

 

1. SBI Pays ₹8,076.84 Crore Dividend to Govt for FY25: The State Bank of India (SBI) has paid a dividend of ₹8,076.84 crore to the Government of India for the financial year 2024-25, marking a significant increase from last year’s ₹6,959.29 crore. The dividend cheque was formally handed over to Finance Minister Nirmala Sitharaman by SBI Chairman C.S. Setty.For FY 2024-25, SBI declared a dividend of ₹90 per share, which is higher than the ₹13.70 per share dividend announced for the previous year, reflecting the bank’s improved financial performance and shareholder returns.SBI reported a record net profit of ₹70,901 crore in FY25, up from ₹61,077 crore in FY24, registering a 16% year-on-year growth, making it one of the most profitable years in the bank’s history.

 

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.