02nd July 2026

1. MoF Retains Interest Rates on SSS Unchanged for Q2 FY27; No Revision for Ninth Consecutive Quarter
2. GoI Identifies 25 Tiger Reserves for Priority Reintroduction Calls under Science-Led Recovery
3. Union Minister Rajnath Singh Releases DFP-2026 to Empower DRDO and Accelerate Defence R&D Projects
4. India and Saudi Arabia Sign MoU to Strengthen Cooperation in Water Resources
5. Punjab & Sind Bank Launches New Digital Initiatives on 119th Foundation Day
6. SBI Life Partners with IIT Bombay to Build Indigenous AI-Powered Cyber Defence Systems for Insurance
7. ACC Reappoints Ravi Agrawal as CBDT Chairman for Another Six Months
8. DGCA Conducts India’s First SLS Approach Trial on Airbus A320 Using GAGAN System at Udaipur, Rajasthan
9. Noted Marathi Theatre Legend and Padma Shri Awardee Vijaya Mehta Passes Away
10. International Day of Parliamentarism 2026 – June 30
11. National Doctors’ Day 2026 – July 1
12. National Chartered Accountants Day 2026 – July 1
13. Akashvani Launches Swar Prerna Veethika to Celebrate 90 Years of India’s Musical Heritage
14. MECON Achieves Miniratna Category-I Status: A Major Boost for India’s Public Sector Engineering Giant
15. UP Vishwakarma Shram Samman Yojana 2026: Benefits, Eligibility, Online Application Process & Required Documents
16. Air Marshal Ashutosh Dixit Becomes Vice Chief of the Air Staff
17. General Dhiraj Seth Assumes Charge as 31st Army Chief, Unveils ‘VIJAY’ Vision
18. Ravi Agrawal Reappointed as CBDT Chairman; Centre Extends Tenure till December 2026
19. India’s Unemployment Rate Falls to 8-Year Low in 2025
20. Ministry of Tourism Signs MoU with Google India to Strengthen Digital Promotion of Indian Tourism

National News

Environment Ministry Identifies 25 Tiger Reserves for Targeted Recovery

• What: The Ministry of Environment, Forest and Climate Change has identified 25 of India’s 58 tiger reserves as low-occupancy reserves that require priority scientific interventions to restore sustainable tiger populations.
• Tell me more:
  • Union Environment Minister Bhupender Yadav released the report in Alwar during an event marking 18 years of tiger reintroduction at the Sariska Tiger Reserve.
  • Project Tiger Head Sanjay Kumar presented the report. The report highlights Sariska’s successful recovery, with its tiger population increasing from zero in the mid-2000s to 56 tigers today.
  • It identifies several reserves—including Satkosia, Kawal, Dampa, Kamlang, and Buxa—that currently have no resident tigers.
  • The report also identifies 13 successful source reserves, such as Bandipur, Kanha, Ranthambore, and Corbett, which have healthy tiger populations and can support future recovery efforts.
  • Among them, Corbett Tiger Reserve has the highest tiger population, with an estimated 260 tigers.

Akashvani Inaugurates Swar Prerna Veethika Photo Gallery

• What: Public service broadcaster Akashvani inaugurated a dedicated music photo gallery named ‘Swar Prerna Veethika’ to celebrate its 90 years and honor the legacy of India’s legendary musicians.
• Tell me more:
  • Flute maestro Padma Vibhushan Pandit Hariprasad Chaurasia inaugurated the new gallery at the Akashvani Rang Bhavan Auditorium in New Delhi.
  • Prasar Bharati Chief Executive Officer (CEO) Gaurav Dwivedi announced plans to develop similar local music galleries at various regional stations.
  • The inaugural event concluded with a captivating classical flute recital by internationally acclaimed top-grade Akashvani artist Pandit Rupak Kulkarni.

State News

Uttar Pradesh Promotes Vishwakarma Shram Samman Yojana

• What: Chief Minister Yogi Adityanath strongly championed the Vishwakarma Shram Samman Yojana (VSSY), a flagship skill development and empowerment scheme to support traditional artisans and craftspeople across Uttar Pradesh.
• Tell me more:
  • The MSME Department implements this scheme for permanent state residents aged 18–55, providing six days of free skill-upgradation training and a daily stipend to improve traditional craft skills.
  • Successful trainees receive modern trade-specific toolkits worth up to Rs 1 lakh and gain access to easy business loans.
  • This scheme links rural and urban handicraft workers with market opportunities under the One District One Product (ODOP) initiative.

Banking and Economy

Government Keeps Small Savings Scheme Interest Rates Unchanged

• What: The Ministry of Finance kept interest rates unchanged on various small savings schemes, including the Public Provident Fund (PPF) and National Savings Certificate (NSC), for the ninth consecutive quarter starting July 1, 2026.
• Tell me more:
  • The stable rates will apply for the second quarter of Financial Year (FY) 2026-27 from July 1 to September 30, 2026.

• Commercial banks and public post offices mainly operate these various small savings schemes for citizens.
• The central government last revised interest rates on some small savings schemes in the fourth quarter of FY2023-24.

Punjab & Sind Bank Launches New Digital Banking Initiatives

• What: Punjab & Sind Bank introduced a new vision, mission statement, and several digital services in Delhi during its 119th Foundation Day celebrations to improve customer banking experiences.
• Tell me more:
  • The bank launched the Navjyoti HR mobile app, CBDC services, a Digital Gold Loan facility, and the PSB Bharat Connect account for government employees.
  • Department of Financial Services Additional Secretary Debashish Prusty attended the celebration and highlighted that the bank recorded the highest MSME growth of 30% in the banking sector.
  • Punjab and Sind Bank was incorporated on June 24, 1908. It was nationalized in 1980 along with other banks.
  • MD & CEO) of the bank – Swarup Kumar Saha

IIT Bombay and SBI Life Launch Innovation Hub

• What: The Indian Institute of Technology Bombay (IIT Bombay) partnered with SBI Life Insurance to establish the “Bharat AI & Cyber Innovation Hub for Insurance”.
• Why: The centre aims to strengthen cybersecurity and digital insurance through research, executive education, industry collaboration, indigenous cyber defence technologies, and practical solutions for real-world challenges.
• Tell me more:
  • India’s insurance premium market is projected to grow at an annual rate of 6.9% until 2030.
  • Director of IIT Bombay – Professor Shireesh Kedare
  • SBI Life Insurance MD & CEO – Amit Jhingran

Ministry of Steel Grants MECON Limited Miniratna Status

• What: The Ministry of Steel approved the grant of Miniratna Category-I status to MECON Limited, which is a Schedule ‘A’ Central Public Sector Enterprise (CPSE) under its administrative control.
• Tell me more:
  • MECON Limited operates from its headquarters in Ranchi since its establishment in 1959 to develop core economic sectors like steel, mining, and infrastructure.
  • The Department of Public Enterprises (DPE) under the Ministry of Finance grants this status to Central Public Sector Enterprises (CPSEs).

India Records Lowest National Unemployment Rate in 2025

• What: According to the National Statistics Office (NSO), India’s unemployment rate fell to an eight-year low of 3.1% in 2025. However, unemployment among urban women increased in some states.
• Tell me more:
  • The decline supports the Sustainable Development Goal (SDG) of achieving full and productive employment for all by 2030.
  • Despite the national improvement, urban female unemployment increased in Bihar, Himachal Pradesh, and Rajasthan.
  • Arunachal Pradesh recorded the highest urban female unemployment rate at 18.4%, while Kerala reduced it to 6.7%, showing the biggest improvement.
  • Gujarat recorded one of the lowest urban female unemployment rates at 1.5%, close to its urban male unemployment rate of 1.3%.

Defence News

Rajnath Singh Releases New Financial Powers For DRDO

• What: Defense Minister Rajnath Singh released the Delegation of Financial Powers to DRDO (DFP-2026) in New Delhi to increase efficiency, accountability, and the timely completion of strategic research and development projects.
• Tell me more:
  • The framework aims to develop and introduce new defence technologies faster by giving officials more decision-making powers, providing early funding, supporting testing, and promoting collaboration with industry and academic institutions.
  • Defense Secretary and DRDO Chairman – Rajesh Kumar Singh
  • Chief of Defence Staff General – NS Raja Subramani
  • Secretary of Defence Production – Sanjeev Kumar

Directorate General of Civil Aviation Conducts First Satellite Landing

• What: The Directorate General of Civil Aviation (DGCA) successfully conducted India’s first satellite-based landing system (SLS) approach on a jet engine aircraft using an IndiGo Airbus A320 at Udaipur airport.
• Tell me more:
  • This exercise used the GPS-Aided Geo Augmented Navigation (GAGAN) system developed by the Indian Space Research Organisation (ISRO) and the Airports Authority of India (AAI).
  • The system helps aircraft land safely using satellites instead of expensive ground equipment, improving flight safety, supporting smaller airports, and boosting India’s self-reliance in aviation technology.

General Dhiraj Seth Outlines Indian Army Transformation Priorities

• What: Army Chief General Dhiraj Seth outlined his future vision for a modern, technology-driven Indian Army and introduced the acronym ‘VIJAY’ to define the core transformation priorities of the force.
• Tell me more:
  • The strategic acronym ‘VIJAY’ outlines priorities representing vigilance, innovation, jointness and integration, Aatmanirbhrata, and ‘Yodha first’.
  • These strategic goals align directly with the ‘Decade of Transformation’ roadmap envisioned by Defence Minister Rajnath Singh for the years 2023 to 2032.

Important Days

International Day of Parliamentarism 2026 – June 30

• UN Focus: The future of human rights is written in parliaments

National Doctors’ Day 2026 – July 1

• What: India celebrates National Doctors’ Day every year on July 1 to honour healthcare professionals and commemorate the birth and death anniversary of Dr Bidhan Chandra Roy, a respected physician and statesman.
• Tell me more:
  • Born on July 1, 1882, Dr Roy earned prestigious medical qualifications in London after submitting his application more than 30 times despite initial colonial rejections.
  • He participated in the Civil Disobedience Movement, later became President of the Medical Council of India, and served as West Bengal’s Chief Minister for 14 years, developing cities like Durgapur.
  • The Government of India awarded him the Bharat Ratna in 1961, and his legacy continues through the prestigious B.C. Roy National Award.

National Chartered Accountants Day 2026 (78th Edition) – July 1

• What: India celebrated the 78th National Chartered Accountant (CA) Day across the country to mark the establishment of the Institute of Chartered Accountants of India (ICAI) in 1949.
• Tell me more:
  • ICAI President Prasanna Kumar D and Vice-President Mangesh Kinare attended the main commemorative programme alongside other dignitaries.

Memorandum of Understanding

India and Saudi Arabia Sign Water Cooperation Pact

• What: India and Saudi Arabia signed an MoU on cooperation in water resources during Saudi Water Week in Jeddah to strengthen bilateral ties through sustainable water management, better irrigation, knowledge sharing, and water conservation.
• Tell me more:
  • India’s Ambassador to Saudi Arabia – Suhel Khan
  • Consul General of India in Jeddah – Fahad Suri

Ministry of Tourism Signs Agreement With Google India

• What: The Ministry of Tourism signed a Memorandum of Understanding (MoU) with Google India to strengthen the digital promotion of national tourism destinations using artificial intelligence and data-driven insights.
• Tell me more:
  • The partnership involves no financial commitment and will use digital platforms, global travel insights, and official training to strengthen Incredible India campaigns and promote India’s cultural heritage worldwide.

Appointments

Ravi Agrawal Reappointed Central Board of Direct Taxes Chairman

• The Appointments Committee of the Cabinet (ACC) approved the reappointment of Ravi Agrawal as the Central Board of Direct Taxes (CBDT) chairman for an additional six months.

New Vice Chiefs Assume Charge in Armed Forces

• Air Marshal Ashutosh Dixit took charge as the new Vice Chief of the Air Staff (VCAS), while Lieutenant General Sandeep Jain assumed charge as the Vice Chief of the Army Staff.

Miscellaneous

Veteran Theatre Legend Vijaya Mehta Passes Away at 91

• What: Veteran theatre director, actor, and producer Vijaya Mehta, who was one of the most influential pioneering figures in modern Marathi experimental theatre, passed away.
• Tell me more:
  • Her six-decade career earned her the Padma Shri in 1986, a National Film Award, and the prestigious Sangeet Natak Akademi (SNA) Tagore Ratna in 2012.

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