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Daily CA PDF June 8 & 9 2025 - English - 1 1

The Daily Content PDF by AffairsCloud provides a comprehensive overview of current affairs, including significant developments in national and international contexts, economic updates, and sports highlights. It emphasizes the importance of not sharing its content and offers a subscription for access to high-quality materials. Key topics include PM Modi's recent projects in Jammu & Kashmir, the launch of the Ayush Nivesh Saarthi portal for traditional medicine investment, and the inauguration of South Asia's largest battery energy storage system in Delhi.

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0% found this document useful (0 votes)
68 views33 pages

Daily CA PDF June 8 & 9 2025 - English - 1 1

The Daily Content PDF by AffairsCloud provides a comprehensive overview of current affairs, including significant developments in national and international contexts, economic updates, and sports highlights. It emphasizes the importance of not sharing its content and offers a subscription for access to high-quality materials. Key topics include PM Modi's recent projects in Jammu & Kashmir, the launch of the Ayush Nivesh Saarthi portal for traditional medicine investment, and the inauguration of South Asia's largest battery energy storage system in Delhi.

Uploaded by

pradeep020803
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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AFFAIRSCLOUD TODAY

Table of Contents
Hand Written Notes ......................................................................................................................................................... 5
Detailed Content............................................................................................................................................................. 13

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Hand Written Notes


NATIONAL AFFAIRS

1)

PM - Prime Minister
m - meters
km - kilometer
USBRL - Udhampur-Srinagar-Baramulla Rail Link
NH - National Highway

100% FDI permitted via the automatic route

MoC&I - Ministry of Commerce and Industry


MoS - Minister of State
Ayush - Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homoeopathy
FDI - Foreign Direct Investment

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MW - Megawatt
BESS - Battery Energy Storage System
kV - kiloVolt
BPRL - BSES Rajdhani Power Limited

4)

ECONOMY & BUSINESS

1)

2)

IIT - Indian Institute of Technology


IME - Institute of Microelectronics

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INTERNATIONAL AFFAIRS

Switzerland & UNDRR To assess global progress on Disaster Risk Reduction

GPDRR - Global Platform for Disaster Risk Reduction


UNDRR - United Nations Office for Disaster Risk Reduction

ii)

DGM - Director General of Metrology


IMD - India Meteorological Department
UN - United Nations

2)

TSSEZL - Tata Steel Special Economic Zone Limited


GIP - Gopalpur Industrial Park
WEF - World Economic Forum

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BANKING & FINANCE

1)

RBI - Reserve Bank of India


GDP - Gross Domestic Product
CPI - Consumer Price Index
SDF - Standing Deposit Facility
MSF - Marginal Standing Facility
SLR - Statutory Liquidity Ratio
LTV - Loan-to-Value
FDI - Foreign direct investment
NBFC-MFI - Non-Banking Financial Company-Microfinance Institution

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2)

SEBI - Security Exchange Board of India


NSE - National Stock Exchange
ESG - Environmental, Social and Governance
L&T - Larsen and Toubro
HSBC - Hongkong and Shanghai Banking Corporation
UK - United Kingdom

3)

SCIENCE & TECHNOLOGY

1)

AP - Andhra Pradesh
ISRO - Indian Space Research Organisation
SHAR - Satish Dhawan Space Centre

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AWARE - Andhra Pradesh Weather Forecasting and Early Warning Research Centre
RTGS - Real Time Governance Society

SPORTS

Women’s Category

Anna Muzychuk
(Ukraine)

Lei Tingjie
(China)

Koneru Humpy
(India)
USA - United States of America

2)

ICC - International Cricket Council


T20 - Twenty 20
ODI - One Day International

OBITUARY

1)

Zambia South Africa

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IMPORTANT DAYS

1)

UN FAO - United Nations Food and Agriculture Organization


WHO - World Health Organization
LMICs - low- and middle-income countries
FSSAI - Food Safety and Standards Authority of India
NIMHANS - National Institute of Mental Health and Neuro-Sciences

STATE NEWS

1)

2)

MW - Megawatt

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➢ Award-winning 'king of the miniseries' Richard Chamberlain dies aged 90

➢ Merchandise exports may fall slightly to $435 billion in FY25: GTRI

➢ Centre appoints IFS officer Nidhi Tewari as PM Modi's private secretary

➢ Delhi govt signs MoU with Centre for skill development among Sikh youth

➢ China's Zhipu AI launches free AI agent, intensifying domestic tech race

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Detailed Content
Current Affairs 8 & 9 June 2025: Headlines

➢ Overview of PM Narendra Modi’s visit to J&K on June 06, 2025


➢ India Launches Ayush Nivesh Saarthi Portal to Boost Traditional Medicine Investment
➢ Delhi Inaugurates South Asia’s Largest Utility-Scale Battery Energy Storage System
➢ Telangana and Japan’s Kitakyushu Sign Pact for Sustainable Development
➢ 8th Session of the Global Platform for Disaster Risk Reduction held in Switzerland
➢ TSSEZL’s GIP Inducted into WEF’s Transitioning Industrial Clusters Initiative
➢ Highlights of RBI’s 2nd Bi-monthly Monetary Policy of FY 2025-26
➢ NSE Sustainability Launches ESG Ratings for Listed Companies
➢ Flipkart Secured NBFC License from RBI; becomes 1st Indian e-commerce Company to
Offer Direct Lending
➢ Air India & Icelandair Signed Codeshare Agreement for Enhance India-Europe
Connectivity
➢ IIT Kharagpur & Singapore’s IME Signed MoU for Semiconductor Research
➢ AP Govt & ISRO Signed MoU to Integrate Space Technology into RTGS
➢ Norway Chess 2025: Magnus Carlsen and Anna Muzychuk Clinch Titles in 13th Edition,
Gukesh Dommaraju Finishes third
➢ Indian Cricketer Piyush Chawla Announces Retirement from All Forms of Cricket
➢ Former Zambian President Edgar Lungu Passed Away
➢ World Food Safety Day 2025 – June 7
➢ TN Govt Notifies Greater Flamingo Sanctuary at Dhanushkodi
➢ Assam & Meghalaya to Jointly Develop 55 MW Hydropower-Irrigation Project

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NATIONAL AFFAIRS
Overview of PM Narendra Modi’s visit to J&K on June 06, 2025
On June 6, 2025, Prime Minister(PM) Narendra Modi visited the (UT) Jammu & Kashmir (J&K), where he
laid the foundation stone, inaugurated and dedicated to the nation several development projects worth over
Rs 46,000 crore at Katra, J&K.

• He also flagged off Vande Bharat trains, marking a significant milestone in establishing seamless rail
connectivity from Kashmir (J&K)to Kanyakumari (Tamil Nadu, TN).
• These projects aim to improve road and rail connectivity across the UT, with a focus on enhancing
accessibility, promoting tourism, and generating employment.
Key Dignitaries:
Manoj Sinha, Lieutenant Governor of J&K; Omar Abdullah, Chief Minister (CM) of J&K; Union Minister
Ashwini Vaishnaw, Ministry of Railways (MoR); Union Minister of State (MoS) Veeranna (V) Sommana, MoR
and Union MoS Dr. Jitendra Singh, Ministry of Science & Technology (MoS&T), were present among other
dignitaries at the event.
Key Projects Inaugurated:
PM Modi inaugurated Chenab Bridge and Anji Khad Bridge:
During the visit, PM Narendra Modi inaugurated Chenab Bridge, the world’s highest railway arch bridge,
which is 359 meters (m) above the Chenab river and 35 m or 114 feet (ft.) taller that the Eiffel Tower (in
Paris, France), located in Reasi District of J&K.
• He also inaugurated Anji Khad Bridge, India’s 1st cable-stayed rail bridge that will serve the
nation in a challenging terrain.
• Both these bridges are an integral part of Udhampur-Srinagar-Baramulla Rail Link (USBRL).
Key Features of Chenab Bridge:
i.This bridge is built at a cost of Rs 1,486 crore and is part of the Katra-to-Sangaldan stretch, that will
connect New Delhi directly with Kashmir via Katra.
ii.This 1,315m-long steel arch bridge is designed to withstand
seismic and wind speeds of up to 260 kilometers per hour
(km/hr) and is built to last 120 years.
iii.The structural steel used in this bridge is capable of
tolerating temperature ranging from -10 to -40 degree
Celsius(°C), thereby ensuring resilience across seasonal
extremes.
iv.The most sophisticated ‘Tekla’ software was used for
structural detailing which enables high precision in design and
execution of the bridge.

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Key Features of Anji Khad Bridge:


i.The bridge spans the deep Anji river valley, south of the Chenab river, connecting the Katra Banihal section
of the USBRL rail line.
ii.It is about 80 kms away from the Jammu city (J&K) and is set against a striking backdrop of snow-covered
peaks.
ii.It is anchored by 96 high tensile cables and the total length of cable strand used in the bridge is 653 kms. It
is 331 m above the riverbed and stretch es across 725 m.
Other Key Rail/Road Projects:
i.During his visit, PM Narendra Modi dedicated 272 kilometer (km)-long USBRL project to the country.
This rail link project was constructed at a cost of around Rs 43,780 crore comprises 36 tunnels, spanning
119 km and 943 bridges.
• The project provides all-weather, seamless rail connectivity between the Kashmir Valley and the rest
of the country, aimed to transform regional mobility and accelerating socio-economic integration.
ii.He also laid the foundation stone and inaugurated several road projects including, the road widening
project from Rafiabad to Kupwara on National Highway (NH-701) and the construction of Shopian bypass
road on NH-44 worth Rs 1,952 crore.
• Apart from them, he inaugurated two flyover projects at Sangrama Junction on NH-1 in Srinagar
(J&K) and at Bemina Junction on NH-44.
iii.Also, he flagged off two Vande Bharat Express trains from Katra Railway Station that will directly
connect Jammu division with Kashmir.
• These new Vande Bharat trains will reduce the travel time between Katra and Srinagar from the
current 6-7 hrs to just 3 hrs.
• Both these trains will run over the Chenab Bridge and Anji Khad Bridge, as well as the long tunnel
between Khari and Sumber.
iv.He also laid the foundation stone of Shri Mata Vaishno Devi Institute of Medical Excellence in Katra, J&K.
It will be the 1st medical college in Reasi district to be built at a cost of more than Rs 350 crore.
About Jammu & Kashmir (J&K):
Chief Minister (CM)- Omar Abdullah
Lieutenant Governor- Manoj Sinha
Capital- Jammu (in winter) and Srinagar (in summer)
National Park (NP)- Dachigam NP

India Launches Ayush Nivesh Saarthi Portal to Boost Traditional Medicine Investment
In May 2025, Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoC&I), and Union
Minister of State (MoS) Prataprao Jadhav, Ministry of Ayush (Ayurveda, Yoga & Naturopathy, Unani,
Siddha, and Homoeopathy) jointly inaugurated the ‘Ayush Nivesh Saarthi‘ portal during the Ayush
Stakeholder and Industry Interaction Meet at Vanijya Bhawan, New Delhi (Delhi).

• The portal is an investor-centric digital platform that aims to facilitate investments in India’s
traditional medicine sector by providing a unified interface that integrates policy frameworks,
incentive structures, investment-ready projects, and real-time facilitation tools.

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About Ayush Nivesh Saarthi portal:


i.Developed by: It is a joint initiative of the Ministry of Ayush, and the Department for Promotion of
Industry and Internal Trade (DPIIT), under MoC&I. It was developed by the Ministry of Ayush in
collaboration with New Delhi based Invest India.
ii.Features:
• Unified Interface: Combines policies, incentives, and investment-ready projects to streamline the
investment process.
• Real-Time Facilitation: Offers dynamic dashboards for guidance and approvals, enhancing ease of
doing business.
• Global Outreach: Targets both domestic and international stakeholders to attract diverse
investments.
• Investor-Centric Design: Simplified navigation and support to assist investors in decision-making.
iii.Significance:
• It leverages 100% Foreign Direct Investment (FDI) permitted via the automatic route.
• It serves as a digital gateway to India’s USD 13 billion Medical Value Travel (MVT) sector and the
growing global wellness economy.
About the Department for Promotion of Industry and Internal Trade (DPIIT):
The DPIIT is a central government department under the Ministry of Commerce and Industry (MoC&I).
Secretary – Amardeep Sing Bhatia
Headquarters – New Delhi
Established – 1995

Delhi Inaugurates South Asia’s Largest Utility-Scale Battery Energy Storage System
In May 2025, Delhi Power Minister Ashish Sood inaugurated India’s first commercially approved utility-
scale 20 Megawatt (MW)/40 Megawatt-hour Battery Energy Storage System (BESS) at the 33/11 kiloVolt
(kV) Kilokari substation in South Delhi (Delhi).
• This facility is South Asia’s largest grid-connected BESS project and marks the first utility-scale
energy storage system in India to receive commercial approval.
i.The BESS will directly benefit over one lakh residents in the Ashram–Kilokri area, delivering up to 4 hours
of reliable power daily – 2 hours during the day and 2 hours at night.
ii.Uses advanced Lithium Iron Phosphate (LFP) batteries, known for thermal stability, safety, and durability.
Temperature-controlled containers ensure efficiency in Delhi’s
varying climate.
iii.The project was developed by New Delhi (Delhi) based BSES
Rajdhani Power Limited (BRPL) (a joint venture between
Reliance Infrastructure Limited and the Government of NCT
Delhi) in partnership with:
• Mumbai(Maharashtra) based India Grid Trust (IndiGrid)
(India’s first power sector Infrastructure Investment
Trust).
• New York, United States of America(USA) based GEAPP
(providing technical expertise and funding).
• Pune, Maharashtra based AmpereHour Energy
(technology partner)

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Telangana and Japan’s Kitakyushu Sign Pact for Sustainable Development


In June 2025, the Government of Telangana signed a cooperative agreement with Kitakyushu City, Japan,
to strengthen bilateral relations in inclusive economic growth, zero-emission initiatives, and urban
innovation.
• The agreement was formalized during the Telangana Formation Day celebrations in Hyderabad, in
the presence of Chief Minister (CM) of Telangana A. Revanth Reddy and Kitakyushu Mayor Kazuhisa
Takeuchi.
i.Eco-Town Model: Inspired by Kitakyushu’s transformation from a polluted city to an eco-hub, Telangana
will develop an 80-acre eco-town in Hyderabad. This model emphasizes circular economy practices, waste
management, and recycling technologies.
ii.Musi River Rejuvenation: The state will leverage Kitakyushu’s expertise in riverfront development and
environmental conservation for the Musi River project.

INTERNATIONAL AFFAIRS
8th Session of the Global Platform for Disaster Risk Reduction held in Switzerland
The Global Platform for Disaster Risk Reduction (GPDRR) 2025 was organized by the Geneva (Switzerland)
based United Nations (UN) Office for Disaster Risk Reduction (UNDRR) from June 2 to 6, 2025 in Geneva,
Switzerland. The event was hosted by the Government of Switzerland. The event is co-chaired by the
Government of Switzerland and UNDRR.

• The theme of 8th session of GPDRR (2025) is “Every Day Counts: Act for Resilience Today,” which
underscores the urgency of taking bold action to safeguard communities and build a sustainable
future
About GPDRR:
i.The GPDRR constituted an important milestone between the High Level meeting on the midterm review of
the Sendai Framework (May 2023) and the five final years before the Sendai Framework came to an end.
ii.The progress made in the implementation of the recommendations put forward through the Political
Declaration, adopted by the UN General Assembly (UNGA) in May 2023, was assessed and discussed in the
event.
Background:
i.Global Platform for Disaster Risk Reduction (GPDRR) was established by the UNGA in 2006.
ii.GPDRR is organized by UNDRR every two-three year.
iii.The objective of the event is to assess the global progress on Disaster Risk Reduction (DRR), share
knowledge, and guide implementation of the Sendai Framework for Disaster Risk Reduction (2015-2030).

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Note: The 7th session of the GPDRR was held in Bali, Indonesia.
PK Mishra Represented India:
On 5 June 2025, during the event, Dr. P.K. Mishra, Principal Secretary to the Prime Minister (PM) Narendra
Modi, represented India in the G20 (Group of Twenty) DRR Working Group Roundtable on the margins of
the GPDRR 2025 in Geneva, Switzerland.
• He highlighted India’s robust DRR financing system, cumulatively exceeding USD 28 billion and
called for concrete, time-bound outcomes and the creation of a global facility for catalytic funding,
technical assistance and knowledge exchange.
• He held productive discussions with Stine Renate Haheim, Deputy Minister for International
Development, Norway, emphasizing the importance of international cooperation in disaster risk
reduction.
• He discussed the G20’s unique role in advancing GDRR by combining economic capacity with
development imperatives.
IMD DGM Mrutynjay Mohapatra awarded UN’s Sasakawa Award 2025
On 6 June 2025, Dr. Mrutyunjay Mohapatra, popularly known as “The Cyclone Man of India”, Director
General of Meteorology (DGM), New Delhi (Delhi) based India Meteorological Department (IMD), was
awarded the United Nations (UN) Sasakawa Award 2025 for Disaster Risk Reduction (DRR) in individual
category.
• The 2025 theme of the award was “Connecting Science to People: Democratizing access to
innovation and technology for disaster-resilient communities”
• Other winners are Harkunti Pertiwi Rahayu, Professor of Disaster Aspect in Planning at the Institut
Teknologi Sumatra and Chair of the Indonesian Disaster Expert Association (Indonesia) in
individual category and the United Kingdom (UK) based Global Network of Civil Society
Organisations for Disaster Reduction (GNDR) in the organizational category.
About UN Sasakawa Award:
i.The award was established in 1986 with the support of Tokyo (Japan) based Nippon Foundation.
ii.It is the most prestigious international recognition in the field of disaster risk reduction.
iii.It honours individuals and institutions that made outstanding contributions to building disaster-resilient
communities.
About Dr. Mrutyunjay Mohapatra:
i.The honour underscores the groundbreaking effort of Dr.Mrutyunjay in minimizing deaths due to any
cyclone over the north Indian Ocean region.
ii.He pioneered impact-based forecasting, tailoring warnings for farmers, fisherman, infrastructure, and
disaster managers.
About United Nations Office for Disaster Risk Reduction (UNDRR):
Head – Kamal Kishore
Headquarters – Geneva (Switzerland)
Formed – 1999

TSSEZL’s GIP Inducted into WEF’s Transitioning Industrial Clusters Initiative


In June 2025, Tata Steel Special Economic Zone Limited’s (TSSEZL) Gopalpur Industrial Park (GIP) located
in Ganjam district (Odisha) was inducted into the Geneva (Switzerland) based World Economic Forum’s
(WEF) Transitioning Industrial Clusters Initiative to accelerate green industrialisation and
decarbonisation in India.
• The Transitioning Industrial Clusters Initiative, launched at COP26 in 2021, aims to accelerate the
deployment of clean-energy infrastructure globally. With the addition of Gopalpur Industrial Park,

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the initiative now comprises 33 clusters across 16 countries, collectively representing potential
greenhouse gas emissions reductions comparable to the annual emissions of Saudi Arabia.
i.This global program collaborates with New York (USA)-based Accenture and Palo Alto (California, USA)-
based Electric Power Research Institute (EPRI) to drive decarbonization, economic growth, and job creation
in industrial clusters.
ii.The initiative focuses on implementing clean technologies and reducing carbon footprints in industrial
zones.
iii.It aligns with India’s National Green Hydrogen Mission (NGHM), aiming to make India a global leader in
green hydrogen production and export.
iv.The move is expected to attract green investments and enable collaboration between industries,
government bodies, and climate action leaders.
Note: GIP is operated by TSSEZL, a subsidiary of Mumbai (Maharashtra)-based Tata Steel Limited(TSL). It is
the first industrial park in India to become part of this global climate initiative, promoting green
infrastructure, clean energy adoption, and low-carbon operations.

BANKING & FINANCE


Highlights of RBI’s 2nd Bi-monthly Monetary Policy of FY 2025-26
The Reserve Bank of India conducted the 55th and 2nd Bi-monthly Monetary Policy Meeting (MPC) of
Financial Year (FY) 2025-26 from June 4 to 6, 2025 under the chairmanship of Shri Sanjay Malhotra,
Governor, Reserve Bank of India (RBI).

• The meeting was attended by the MPC members Dr. Nagesh Kumar, Shri Saugata Bhattacharya, Prof.
Ram Singh, Dr. Poonam Gupta and Dr. Rajiv Ranjan.
RBI retains India’s growth forecast at 6.5%:
i.The committee has projected the Gross Domestic Product (GDP) for Financial Year 2025-26 (FY26) to be
6.5%.
• The projection for FY26 for Quarter 1 (Q1: April –June 2025) at 6.5%; Q2 (July – September 2025) at
6.7%; Q3 (October – December 2025) at 6.6% and Q4 (January – March 2026) at 6.3%.
RBI cuts repo rate by 50 bps to 5.5%, changes policy stance to neutral:
i.The MPC voted to reduce the policy repo rate by 50 basis points (bps) to 5.50% with immediate effect and
changes policy stance to neutral.
ii.Consequently, the standing deposit facility (SDF) rate under the liquidity adjustment facility (LAF) shall
stand adjusted to 5.25 % and the marginal standing facility (MSF) rate and the Bank Rate to 5.75 %.
iii.After cutting the policy repo rate by 100 bps in a short span since February 2025, the scope for further
monetary easing to support growth has become quite limited under current conditions.
• Therefore, the MPC has decided to shift its stance from accommodative to neutral.
iv.The committee has decided to reduce the cash reserve ratio (CRR) by 100 bps to 3.0 % of net demand and
time liabilities (NDTL).

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• This reduction will be carried out in four equal tranches of 25 bps each with effect from the
fortnights beginning September 6, October 4, November 1 and November 29, 2025.
RBI’s Policy Rate:

Category Rate

Repo Rate 5.50%


Reverse Repo Rate 3.35%
SDF 5.25%
MSF 5.75%
Cash Reserve Ratio 3.00%
Statutory Liquidity Ratio 18.00%
Bank Rate 5.75%
CPI inflation for FY26 revised to 3.7% versus 4% earlier:
The medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2 %.
i.The committee revised the CPI inflation projection for the FY26 at 3.7% from 4%.
• The CPI inflation projection for Q1 at 2.9%, Q2 at 3.4%, Q3 at 3.9% and Q4 at 4.4%.
MPC rate cut impact on home loans:
i.The latest 50 bps cut is expected to significantly reduce home loan interest rates and revive housing
demand, especially in the mid- and affordable segments.
• If all the three repo rate cuts effected this year are combined, the cumulative decrease in rate comes
to 100 bps.
• Based on the total 100 bps cuts, the monthly benefit on home loan EMIs for borrowers with Rs 50
lakh loan for a 20-year tenure at an interest rate of 8% reaches over Rs 3,000.
RBI to raise gold lending LTV to 85% for loans under Rs. 2.5 lakh:
Inorder to improve access to formal credit for rural and semi-urban borrowers, the Loan-to-Value (LTV) cap
for small-ticket gold loans i.e. loan under Rs.2.5 lakh has been raised to 85% from 75%.
• Also borrowers are allowed to submit self-declare gold ownership in the absence of purchase
invoices.
Non-gold imports posted double digit growth:
i.Non-oil, non-gold imports posted a double-digit growth,
reflecting buoyant domestic demand conditions.
• While, services exports continue on a strong
growth trajectory.
Gross FDI increased 14% in FY25:
i.Gross foreign direct investment (FDI) inflows remained
strong, rising by around 14 % to USD 81.0 billion in 2024-
25 from USD 71.3 billion a year ago.
• However, net FDI inflows moderated to USD 0.4
billion in 2024-25 from USD 10.1 billion a year ago.
ii.Foreign portfolio investment (FPI) to India dropped
sharply to USD 1.7 billion, as foreign portfolio investors
booked profits in equities.
India’s forex reserves sufficient to meet 11 months of
imports:
i.As on May 30, 2025, India’s foreign exchange reserves
stood at USD 691.5 billion.

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• These are sufficient to fund more than 11 months of goods imports and about 96% of external debt
outstanding.
RBI’s policy resets bond markets, signals deeper yield compression ahead
i.Bond yields are significantly affected by monetary policy—specifically, the course of interest rates.
• When the interest rate falls, the price of the bond rises and the bond yield falls.
ii.The benchmark 10-year G-sec yield, which closed May at 6.29 %, dropped 7 bps month-on-month and is
now expected to trade in a 6.15–6.25 % band in June.
• The 5-year segment has already priced in this easing aggressively. The 6.75 % 2029 bond yield has
declined by 80 bps since March.
• Given the RBI’s neutral stance, the 10-Year segment is poised for further compression towards 6.00
per cent over the next quarter.
RBI lowers qualifying asset criteria for NBFC-MFIs to 60% from 75%
i.The RBI has reduced the qualifying asset threshold for non-banking financial companies – microfinance
institutions (NBFC-MFIs) to 60% from 75%, in a boost to the industry.
ii.Qualifying assets of NBFC-MFIs shall constitute a minimum of 60% of the total assets (netted off by
intangible assets), on an ongoing basis.
• If an NBFC-MFI fails to maintain the qualifying assets as per the threshold for four consecutive
quarters, it shall approach the RBI with a remediation plan for taking a view in the matter.
RBI restricts lending against gold bullion, issues harmonised guidelines for gold, silver loans
i.The RBI has issued revised direction on – “Lending against Gold and Silver Collateral Directions,2025”.
The objectives behind these directions are:
• To put in place a harmonised regulatory framework for such loans applicable across various
Regulated Entities (REs);
• Address the concerns observed relating to some of the lending practices being followed and provide
necessary clarity on certain aspects; and
• Strengthen the conduct-related aspects.
ii.The RBI has now prohibited lending against primary gold assets such as gold bullion, citing broader
concerns around financial stability and the speculative, non-productive nature of such investments.
• The RBI has clarified that REs may continue to offer loans backed by gold jewellery, ornaments, or
coins, which are considered practical avenues for borrowers seeking short-term financing.
• Past regulations on lending secured by silver were also shaped by similar concerns.
Private banks see steepest fall in credit growth to 9.5% in FY25
i.According to the data released by the RBI, the credit growth decelerated across all bank groups in FY 2024-
25.
• Private banks had the steepest decline, of 9.5%, in March after a sustained credit growth of above
15% for the preceding three years.
No plans to raise foreign ownership cap in banks beyond 15%
The RBI governor confirmed that there is no move to increase foreign ownership limits beyond 15% in a
single institution at present
• He stated that 15% foreign ownership is permitted for non-residents, this limit may be exceeded in
specific cases based on individual assessments.
Important Definitions:
Repo rate: It is the interest rate at which the Reserve Bank of India (RBI) lends money to commercial banks
for short-term needs, against government securities.
Reverse Repo rate: It is the interest rate at which the Reserve Bank of India (RBI) borrows money from
commercial banks, usually for short durations.

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Cash Reserve Ratio: It is the percentage of a bank’s total deposits that it must be kept as reserves with the
RBI in the form of cash form.
Statutory Liquidity Ratio: It is the minimum percentage of a bank’s net demand and time liabilities (NDTL)
that it must maintain in the form of liquid assets — like cash, gold, or government-approved securities.
Qualifying Asset: The definition of qualifying asset is aligned with the definition of ‘microfinance loans’.
• A microfinance loan is defined as a collateral-free loan given to a household having annual household
income up to Rs. 3 lakh.

NSE Sustainability Launches ESG Ratings for Listed Companies


On 6 June 2025, Mumbai (Maharashtra) based National Stock Exchange (NSE) Sustainability, a wholly
owned subsidiary of NSE Indices Limited launched the Environmental, Social and Governance (ESG)
ratings for listed companies, with an aim to enhance the innovation in sustainable finance.

• NSE Sustainability has received Registration certificate from the Mumbai (Maharashtra) based
Security Exchange Board of India (SEBI) to operate as a Category I ESG Rating Provider (ERP).
Key Points:
i.The firm aims to provide stakeholders, including investors, businesses, regulators and the public with
accurate, comprehensive and unbiased evaluations of corporate sustainability practices.
ii.The ESG ratings are derived from a thorough evaluation of company practices, policies, and disclosures
across relevant sectors and industries.
iii.NSE Sustainability employs a transparent, data-driven, and materiality-based ESG ratings methodology
aligned with national and international standards and best practices.
L&T Partners with HSBC for India’s first listed ESG Bond Deal
On June 6, 2025, Mumbai (Maharashtra) based Larsen and Toubro (L&T)has announced a Rs. 500 crore
ESG bond issuance deal, becoming the first Indian corporate under the SEBI and introduced ESG and
sustainability-linked bond framework.
• London, United Kingdom (UK) Hongkong and Shanghai Banking Corporation (HSBC) will act as the
sole lead arranger in the transaction.
Key points:
i.The issuance in compliant with SEBI’s regulatory framework, which is designed to promote transparency,
accountability, and alignment with international ESG standards.
ii.The framework outlines key requirements for issuers, including the disclosure of sustainability objectives,
mandatory external assessments such as Second-Party Opinions (SPOs), and post issuance reporting.
• It also mandates clear Key Performance Indicators (KPIs) and targets to measure ESG outcomes,
crucial steps in supporting India’s Net-Zero and climate-resilient growth agenda.
iii.As part of the ESG Bond deal, L&T has committed to reducing its greenhouse gas emissions and the
intensity of freshwater withdrawal. These align with its long-term goals of achieving water neutrality by
2035 and carbon neutrality by 2040.
About National Stock Exchange (NSE) Indices Limited:
Managing Director (MD) – Aniruddha Chatterjee
Headquarters – Mumbai, Maharashtra

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Founded – 1998
About Hongkong and Shanghai Corporation (HSBC):
Chief Executive Officer (CEO) – Georges Elhedery
Headquarters – London, United Kingdom (UK)
Founded – 1865

Flipkart Secured NBFC License from RBI; becomes 1st Indian e-commerce Company to Offer
Direct Lending
In June 2025, Walmart-backed Flipkart Private Limited, India’s largest e-commerce company, announced
that it has secured a Non-Banking Finance Company (NBFC) license from Mumbai based Reserve Bank of
India (RBI). With this, Flipkart is now authorised to offer loans/credit directly to customers, but not allowed
to take deposits.

• RBI granted a Certification of Registration (CoR), a document that officially recognizes a company as
an NBFC, to Flipkart Finance Private Limited (FFPL) in March 2025, marking the 1st time a major
Indian e-commerce player has received a NBFC license.
Key Points:
i.Flipkart plans to offer loans directly to its customers on its popular e-commerce platform and through its
fintech application (app) ‘super.money’. It also plans to provide financing to sellers on the platform.
ii.At present, Flipkart offers consumer loans in partnership with financial institutions (FIs) like: Axis Bank
Limited, and IDFC First Bank Limited.
iii.In 2024, Flipkart was last valued at USD 37 billion in 2024, when it raised USD 1 billion from its parent
company Walmart.
About Non-Banking Finance Company (NBFC):
i.A NBFC is a company registered under the Companies Act, 1956 or Companies Act, 2013. It is primarily
engaged in the business of loans and advances, acquisition of shares/stocks/bonds/debentures/securities
issued by Government of India (GoI) or local authority.
ii.Though NBFC offers credit/loans but they are different from banks due to certain conditions like: NBFCs
cannot accept demand deposits;
• NBFCs do not form part of the payment and settlement system and they are not authorised to issue
cheques on itself;
• Also, deposit insurance facility of Deposit Insurance and Credit Guarantee Corporation (DICGC) is not
available to depositors of deposit-taking NBFCs.
iii.NBFC should have a minimum net owned fund of Rs10 crore. (The minimum net owned fund
requirements for specialized NBFCs are
• NBFC-Infrastructure Finance Company (NBFC-IFC) – Rs.300 crore; Infrastructure Debt Fund – NBFC
(IDF-NBFC) – Rs.300 crore;
• Mortgage Guarantee Company (MGC) – Rs.100 crore;
• Housing Finance Company (HFC) – Rs.20 crore,

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• Standalone Primary Dealers (SPDs) which undertake only the core activities – Rs.150 crore and SPDs
which also undertake non-core activities – Rs.250 crore;
• NBFC- Account Aggregator (AA) – Rs.2 crore; and NBFC-Peer-to-Peer (P2P) – Rs.2 crore).
About Flipkart Private Limited:
Chief Executive Officer (CEO)- Kalyan Krishnamurthy
Headquarters- Bengaluru, Karnataka
Established- 2007

ECONOMY & BUSINESS


Air India & Icelandair Signed Codeshare Agreement for Enhance India-Europe Connectivity
In June 2025, New Delhi (Delhi)-based Air India Limited, a Tata Group-owned airline, signed a codeshare
agreement with Reykjavík (Iceland)-based Icelandair to enhance air connectivity between India and
Europe via Iceland.
• The announcement was made by Air India’s Chief Executive Officer (CEO) and Managing
Director(MD), Campbell Wilson, during the 81st Annual General Meeting of the International Air
Transport Association (IATA) held in New Delhi.
i.This newly signed codeshare agreement will enable passengers to travel more easily across 15 routes in
India and Europe.
ii.This strategic partnership bolsters travel and trade ties between India and Iceland, offering greater
flexibility and choice to passengers, unified baggage allowances, and enhanced connectivity through major
European hub airports.
iii.Under this agreement, customers of Air India can now access to Icelandair-operated flights between
Reykjavik, capital city of Iceland and each London Heathrow (the United Kingdom, UK), London Gatwick,
Frankfurt (Germany), Paris (Germany), Amsterdam (the Netherlands), Copenhagen (Denmark), Milan
(Italy), and Zurich (Switzerland).
• Also, all these flights will now carry Air India’s ‘AI’ flight code.
iv.In return, Icelandair will codeshare Air India-operated flights from Delhi and Mumbai (Maharashtra) to 5
European cities i.e. from Delhi to Amsterdam; Paris; Copenhagen; Frankfurt; and London Heathrow; and
from Mumbai to Frankfurt and London Heathrow. These flights will now display Icelandair’s FI flight code.

IIT Kharagpur & Singapore’s IME Signed MoU for Semiconductor Research
In June 2025, the Indian Institute of Technology (IIT) Kharagpur, West Bengal(WB), has signed a
Memorandum of Understanding (MoU) with the Institute of Microelectronics (IME), Singapore, to enhance
global collaboration in semiconductor technology.
• IME is a core research institute under Singapore’s Agency for Science, Technology and Research
(A*STAR).
• The MoU was signed during SEMICON Southeast Asia (SEA) 2025, a premier event for the
semiconductor industry, held from 20th to 22nd May 2025 in Singapore.
Key Highlights:
The MoU establishes a framework for:
i.Joint Research in advanced semiconductor technologies:
• Post-Complementary Metal-Oxide-Semiconductor (Post-CMOS) and transistor technologies
• Heterogeneous integration and chip packaging
• Artificial Intelligence (AI)-driven hardware accelerators

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• Quantum devices, photonic systems, thermal management, and reliability diagnostics.


ii.Human Capital Development through:
• Bilateral exchange programs for researchers, engineers, and students
• Specialised training workshops
• Joint symposiums addressing global semiconductor challenges.
iii.Strategic Significance
• Supports India Semiconductor Mission (ISM) goals to position India as a global semiconductor hub.
• Combines IIT Kharagpur’s expertise in microelectronics with IME’s industrial R&D (Research and
Development) capabilities.
iv.The partnership also includes:
• Bilateral exchange programmes for researchers, engineers, and students
• Specialized training workshops on the latest semiconductor technologies

SCIENCE & TECHNOLOGY


AP Govt & ISRO Signed MoU to Integrate Space Technology into RTGS
In June 2025, the Andhra Pradesh (AP) government, through its Real Time Governance Society (RTGS), has
signed a five-year Memorandum of Understanding (MoU) with the Satish Dhawan Space Centre (SHAR), a
key facility of the Indian Space Research Organisation (ISRO), headquartered in Bengaluru (Karnataka). The
MoU was signed in the presence of N. Chandrababu Naidu, Chief Minister(CM)of AP; A. Rajarajan, Director
of SHAR and Prakhar Jain, Chief Executive Officer (CEO) of RTGS in Vijayawada, AP.
• The MoU aims to strengthen the AWARE (Andhra Pradesh Weather Forecasting and Early Warning
Research Centre) platform under RTGS by integrating satellite imagery and scientific inputs.
Key Objectives of the MoU:
• To deliver real-time citizen-centric governance using space-based tools.
• Satellite inputs will be utilised across 42 key applications covering sectors such as: Agriculture,
Weather forecasting, Disaster management, Urban planning and Public safety.
About the AWARE Platform:
i.AWARE is a technology-driven platform that consolidates data from various sources including: Satellites,
Drones, Internet of Things (IoT) devices, Environmental sensors, Mobile phone feeds and Closed-Circuit
Television (CCTV) networks.
ii.The platform disseminates real-time alerts and advisories to both citizens and government authorities
via: Short Message Service (SMS), WhatsApp, Mainstream media and Social media platforms.
iii.The integration of ISRO’s satellite data is expected to improve decision-making, disaster
preparedness, and public service delivery in Andhra Pradesh.

SPORTS
Norway Chess 2025: Magnus Carlsen and Anna Muzychuk Clinch Titles in 13th Edition, Gukesh
Dommaraju Finishes third
The 13th edition of Norway Chess 2025, an annual international chess tournament, was held in Stavanger,
Norway from 26th May to 6th June 2025. The event included both the Open section and the 2nd Norway
Chess Women’s tournament, featuring leading global chess players.

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Norway Chess Open Title:


i.Five-time World Chess Champion Magnus Carlsen (Norway) won his 7th Norway Chess title in the Open
section, finishing with 16 points.
ii.Fabiano Caruana (United States of America) finished second with 15.5 points, while Dommaraju Gukesh
(India) secured third place with 14.5 points, replicating his third-place finish from the previous edition.
Women’s Title:
i.Anna Muzychuk (Ukraine), a two-time World Blitz Chess Champion, emerged as the champion of the 2nd
Norway Chess Women’s Tournament, finishing with 16.5 points.
ii.In the final round, she drew the classical game against Indian Grandmaster R Vaishali, earning 1 point.
Though she lost the Armageddon tie-break, she retained her lead.
iii.Lei Tingjie (China) secured second place with 16 points. Koneru Humpy (India), a two-time World Rapid
Chess Champion, finished third with 15 points.
Others Indian Participants:
i.Arjun Erigaisi (India) finished 5th with 13 points in Open Category and Vaishali Rameshbabu (India)
finished 5th in Women’s Section.
Results:

Rank Open Category Women’s Category

1 Magnus Carlsen(Norway) Anna Muzychuk (Ukraine)


2 Fabiano Caruana (USA) Lei Tingjie (China)
3 D Gukesh (India) Koneru Humpy (India)
About Magnus Carlsen:
i.Carlsen clinched his first World Chess Championship title in 2013 by defeating Viswanathan Anand. He
successfully defended this title in 2014, 2016, 2018, and 2021, totaling five classical world championships.
ii.Highest Elo Rating: Carlsen achieved a peak FIDE rating of 2882, the highest ever recorded.
About Anna Muzychuk:
She is a renowned chess player from Ukraine, and is one of the top female Grandmasters (GM) in the world.
She is known for her exceptional skills in rapid and blitz formats and has represented Ukraine in several top
international chess tournaments.
Achievements:
i.World Blitz Chess Champion – 2014 and 2016
ii.World Rapid Chess Champion – 2016
iii.Silver Medalist at the Women’s World Chess Championship 2017

Indian Cricketer Piyush Chawla Announces Retirement from All Forms of Cricket
On June 6, 2025, Indian leg spinner Piyush Pramod Chawla, has announced his retirement from all formats
of professional cricket.
• He was part of the World Cup Winning Squad twice, including the 2007 International Cricket Council
(ICC) Twenty 20 (T20) Men’s World Cup and 2011 One Day International (ODI) Men’s World Cup.

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• He has secured over 1000 wickets across the formats in professional cricket.
About Piyush Chawla:
i.Piyush Chawla debuted in Test Cricket when he was 17 years and 75 days in 2006 against England, T20
International (T20I) against South Africa (SA) in 2010.
ii.He took 3 wickets on his ODI debut against Bangladesh in 2007.
iii.He remains as India’s second youngest male debutant in the format after Sachin Tendulkar, who debuted
at when he was 16 years and 205 days.
iv.He played 3 tests, 25 ODIs and 7 T20Is, taking 43 wickets across all formats.
Franchise Cricket:
i.He played for Chennai Super Kings (CSK), Kolkata Knight Riders (KKR), Kings XI Punjab (KXIP) (Present
Punjab Kings), and Mumbai Indians (MI) between 2008 and 2024 in the Indian Premier League (IPL)
tournament.
ii.As of June 2025, His 192 wickets jointly the Third-best in the history of the IPL with Sunil Narine (West
Indies), Topped by Yuzvendra Chahal(221) and Bhuvneshwar Kumar (198).
iii.In 2022 and 2024, he won the IPL title with KKR and in 2021, he was part of the IPL title winning CSK
squad.
About International Cricket Council (ICC):
Chairman – Jay Shah (India)
Headquarters – Dubai, United Arab Emirates (UAE)
Founded – 15 June 1909
About Indian Premier League (IPL):
Chairman – Arun Singh Dhumal
Headquarters – Mumbai, Maharashtra
Founded – 2007

OBITUARY
Former Zambian President Edgar Lungu Passed Away
In June 2025, Edgar Chagwa Lungu, Former President of Zambia, has passed away at the age of 68 in
Pretoria, South Africa (SA). He was born on 11 November 1956 in Ndola, Zambia.

• He was the sixth president of Zambia, a South African nation, from 2015 to 2021.

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About Edgar Chagwa Lungu:


i.Edgar Chagwa Lungu began his political career in the early 2000s, joining the Patriotic Front (PF) Party.
ii.He held several key positions, including Minister of Justice and Minister of Defence.
iii.In 2014, following the death of Michael Sata, he became the PF’s presidential candidate and won the
January 2015 by-election.
iv.He secured a full term in the 2016 general election, defeating Hakainde Hichilema.
v.In 2021, following his defeat in the election, he retired from politics. He focused on charitable work
through the Edgar Lungu Foundation.
vi.In 2023, he announced a political comeback. He was named chairperson and presidential candidate of the
Tonse Alliance, a coalition aiming to challenge the ruling party in the 2026 elections.
• In December 2024, the constitutional court of Zambia barred him from running, ruling that his initial
term from 2015 to 2016 counted as a full term, making him ineligible after serving two terms.
vii.The life and political journey of Edgar Lungu are chronicled in the biography ‘Against All Odds: Zambia’s
President Edgar Chagwa Lungu’s Rough Journey to State House’ by Anthony Mukwita.
About Zambia:
President – Hakainde Hichilema
Capital – Lusaka
Currency – Zambian Kwacha, ZMW

IMPORTANT DAYS
World Food Safety Day 2025 – June 7
The United Nations (UN’s) World Food Safety Day (WFSD) is annually observed across the globe on June 7
to promote global efforts to ensure safe food, raise public awareness about food safety, and reduce
foodborne diseases worldwide.

• June 7, 2025, marks the 7th observance of World Food Safety Day.
• WFSD is jointly facilitated by Rome (Italy) based United Nations Food and Agriculture Organization
(UN FAO) and Geneva (Switzerland) based World Health Organization (WHO).
2025 Theme:
The theme for WFSD 2025 is “Food safety: science in action”.
• This theme underscores the vital role of scientific approaches in protecting consumers and building
trust in the food supply chain.
Background:
i.In July 2017, the 40th Session of the FAO Conference adopted a resolution supporting the establishment of
WFSD. In December 2017, the WHO expressed its support for this initiative.
ii.On 20 December 2018, the United Nations General Assembly (UNGA) adopted resolution A/RES/73/250,
proclaiming 7 June as World Food Safety Day.
iii.The inaugural WFSD was observed on 7 June 2019.

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iv.On 3 August 2020, the World Health Assembly (WHA) passed resolution WHA73.5, recognizing WFSD.
Significance of Safe Food:
Access to safe food is fundamental for sustaining life and promoting good health. Foodborne illnesses, often
caused by invisible threats like bacteria, viruses, parasites, or chemical contaminants in food or water, pose
a significant global health risk.
The Role of INFOSAN:
Created by FAO and WHO in 2004, the International Food Safety Authorities Network (INFOSAN) is a global
network designed to facilitate rapid information exchange across borders during food safety incidents.
• Currently, INFOSAN connects 189 countries, with members from national food safety authorities,
and is managed jointly by FAO and WHO.
Global Burden of Unsafe Food:
i.600 million people fall ill each year due to foodborne diseases (approximately 1 in 10 people globally).
ii.An estimated 420,000 people die annually after consuming contaminated food.
iii.Children under 5 years of age bear 40% of the foodborne disease burden, resulting in 125,000 deaths
every year.
iv.More than 200 diseases ranging from diarrhea to cancers are caused by unsafe food.
v.On average, 1,600,000 people get sick every day due to unsafe food.
vi.The economic burden of foodborne diseases (due to lost productivity and medical expenses) exceeds USD
110 billion annually in low- and middle-income countries (LMICs).
India’s Regulatory Framework and Initiatives:
i.India has implemented the Food Safety and Standards Act, 2006, providing the legal foundation for food
safety. Under this Act, food businesses must obtain licenses, undergo inspections, and comply with hygiene
regulations.
ii.The Food Safety and Standards Authority of India (FSSAI), based in New Delhi (Delhi), runs initiatives like
the “Eat Right India” movement that support the goals of WFSD and national programs like the Swachh
Bharat Mission to promote hygiene, healthy eating, and food safety.
2025 Events in India:
On June 7, 2025, the FSSAI organized an event at NIMHANS (National Institute of Mental Health and Neuro-
Sciences), Bengaluru, Karnataka.
i.The event focuses on “Stop Obesity by Eating Safe and Healthy,” aligning with Prime Minister (PM) of
India Narendra Modi’s call to address obesity and non-communicable diseases through preventive
strategies and traditional dietary practices.
ii.The event featured the launch of a national awareness initiative against obesity and the ‘Eat Right Activity
Book – Your Guide to Eat Right at School’, a resource under the Eat Right School program aimed at educating
school children on safe and healthy food choices.
About United Nations Food and Agriculture Organization (UN FAO):
Director General (DG) – Qu Dongyu (China)
Headquarters – Rome, Italy
Established – 1945

STATE NEWS
TN Govt Notifies Greater Flamingo Sanctuary at Dhanushkodi
In June 2025, on the occasion of World Environment Day, the Tamil Nadu(TN) government officially
notified the creation of the Greater Flamingo Sanctuary, through Government Order (G.O.) No. 127 under

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the Wildlife Protection Act, 1972 covering 524.78 hectares at Dhanushkodi in Ramanathapuram
district(TN).
• The sanctuary was inaugurated by Muthuvel Karunanidhi(M.K) Stalin Chief Minister(CM) of TN
through a video conference during an event hosted by the Department of Environment, Climate
Change and Forests (DoE&CC) in Chennai.
Key Points:
i.The move aims to preserve a critical stopover point along the Central Asian Flyway for thousands of
migratory wetland birds.
ii.The designated area, part of the ecologically sensitive Gulf of Mannar Biosphere Reserve, is home to a
variety of ecosystems including Mangroves, sand dunes, mudflats, and marshes.
• These unique features support a rich biodiversity, from migratory birds and marine life to nesting
sea turtles.
iii.Mangrove Species such as Avicennia and Rhizophora dominate the Dhanushkodi lagoon, providing
essential breeding grounds and natural defences against coastal erosion.
iv.The sanctuary status is expected to encourage ecotourism, generate local employment, and raise public
awareness about wetland conservation.
Note: As per the 2023-24 wetland bird survey, the Dhanushkodi region recorded over 10,700 wetland
birds, representing 128 species including herons, egrets, sandpipers, and both Greater and Lesser
Flamingos.
About Tamil Nadu (TN):
Chief Minister (CM) – M.K. Stalin
Governor – R.N. Ravi
Capital – Chennai
National Park (NP) – Mudumalai NP, Mukurthi NP

Assam & Meghalaya to Jointly Develop 55 MW Hydropower-Irrigation Project


In June 2025, the governments of Assam and Meghalaya announced a joint initiative to establish a 55-
megawatt (MW) hydropower and irrigation project on the Kulsi River, a tributary of the Brahmaputra
in Meghalaya, aimed at meeting water and energy needs and mitigating urban flooding in Guwahati, Assam.
• The decisions were made during a meeting between Assam Chief Minister (CM) Himanta Biswa
Sarma and Meghalaya CM Conrad K. Sangma in Guwahati (Assam).
i.The project will generate electricity for both states, with Assam receiving additional irrigation benefits.
• The project involves consultations with local communities to address displacement concerns and
protect the Gangetic river dolphin, an endangered species nesting in the river.
ii.To address Guwahati’s urban flooding, both states will engage with Shillong (Meghalaya) based North
Eastern Space Application Centre (NESAC) to conduct satellite mapping of flood-prone areas within three
months.

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• The data will be analyzed by the Roorkee (Uttarakhand) based Indian Institute of Technology (IIT)
Roorkee to develop solutions that minimize flooding in Assam while protecting Meghalaya’s
economic activities.
*******

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