04th June 2025

1. World Environment Day 2025: Theme, Host Country, History & Global Celebrations
2. Kumar Mangalam Birla Honoured with USISPF Global Leadership Award 2025
3. G7 Summit 2025: Key Highlights, Participants, and India’s Absence
4. Uttar Pradesh Approves 20% Police Reservation for Ex-Agniveers
5. OECD Cuts, UBS Lifts India’s FY26 Growth Forecast: A Tale of Two Outlooks
6. World Milk Day 2025: Celebrating the Power of Dairy
7. Telangana Formation Day 2025: Celebrating Resilience, Identity, and Legacy
8. Lavender Festival 2025 Concludes in Bhaderwah, Empowering Rural Aroma Economy
9. Karol Nawrocki Elected President of Poland After Tight Race
10. Shailendra Nath Gupta Appointed as New Director General of Defence Estates
11. RBI Imposes ₹54.78 Crore Penalty on 353 Regulated Entities in FY25
12. Lee Jae-myung Elected President of South Korea Amid Political Upheaval
13. IICA Sets Foot in Northeast with First Regional Campus in Shillong
14. India to Build First-Ever Polar Research Vessel (PRV) in Collaboration with Norway
15. IPL 2025 Final: Royal Challengers Bangalore Win Their First-Ever Title, Defeat Punjab Kings by 6 Runs
16. Annalena Baerbock Elected President of 80th UN General Assembly Session
17. Deutsche Bank Appoints Stefan Schaffer as CEO of India GCC
18. RBI Update: Only 1.74% of ₹2,000 Notes Remain in Circulation
19. Étienne-Émile Baulieu, Pioneer of the Abortion Pill, Passes Away at 98
20. Canara Bank Removes Minimum Balance Rule for All SB Accounts
21. Germany Becomes the World’s Top Creditor, Overtaking Japan After 34 Years
22. World Bicycle Day 2025: Honoring the Humble Two-Wheeler
23. SBI Projects Household Net Financial Savings to Reach ₹22 Lakh Crore in FY25
24. Climate Change Performance Index 2025

State News

1. UP Approves 20% Reservation for Ex-Agniveers in Police

• What:
  • Uttar Pradesh government has approved 20% reservation for former Agniveers in direct recruitment for police constables, Provincial Armed Constabulary (PAC), mounted police, and firemen.
• Why:
  • The move aims to provide post-service employment opportunities to youth who have served under the Agnipath scheme.
• Tell me more:
  • The step is part of Uttar Pradesh’s broader effort to honour Agniveers’ contribution to national defence.
  • The Agnipath scheme involves four-year military service for youth.

Source: NOA

2. Telangana Celebrates 11th Formation Day on June 2

• What:
  • Telangana marked its 11th Formation Day on June 2, 2025, celebrating a decade since becoming India’s youngest state.
• Tell me more:
  • Telangana was created on June 2, 2014, after the Andhra Pradesh Reorganisation Bill was passed in Parliament.
  • The state was formed out of Andhra Pradesh following a longstanding demand and a resolution by the Congress Working Committee.
  • Hyderabad was chosen as the joint capital for both Andhra Pradesh and Telangana for ten years.
  • The 2025 celebration marks the 11th anniversary of Telangana’s formation.

Source: IE

3. Lavender Festival Promotes Aroma Industry in Bhaderwah

• What:
  • The 3rd Lavender Festival was held from 1–2 June 2025 at Government Degree College, Bhaderwah, organized by CSIR-IIIM under the CSIR-Aroma Mission.
• Why:
  • The festival aimed to promote lavender cultivation and support rural livelihoods through empowerment and entrepreneurship in Jammu and Kashmir.
• Tell me more:
  • CSIR-IIIM has engaged over 5,000 farmers and entrepreneurs, with more than 3,000 families cultivating lavender on 750+ hectares.
  • CSIR-IIIM provides free Quality Planting Material and technological support for cultivation, processing, and marketing.
  • Bhaderwah has generated ₹10.5 crore turnover from 1,500 kg lavender oil and 93,000 kg dried flowers, with over 50 distillation units installed in Jammu and Kashmir.

Source: IIIM

4. IICA to Set Up First Regional Campus in Shillong

• What:
  • Indian Institute of Corporate Affairs (IICA) has acquired five acres of land in New Shillong Township, Meghalaya, to establish its first regional campus.
• Why:
  • The campus aims to promote decentralised capacity building and inclusive economic growth in the North-East region.
• Tell me more:
  • The project is backed by a ₹100.95 crore investment under the Prime Minister’s Development Initiative for the North-East Region (PM-DevINE).
  • The campus will focus on training, research, and policy advisory in corporate governance, ESG, CSR, insolvency, competition law, and board leadership.
  • The Shillong campus is located in the Knowledge City cluster, alongside IIM Shillong, National Law University Meghalaya, and NIFT.

Source: ET

International News

1. G7 Summit in Canada

• What:
  • Prime Minister Narendra Modi is unlikely to attend the G7 summit in Canada later this month due to lack of invitation, strained India-Canada relations, and security concerns.
• Why:
  • The decision reflects the current chill in India-Canada relations and security concerns related to the visit.
• Tell me more:
  • The G7 summit will be held in Canada from June 15–17 with participation from the US, UK, Germany, France, Italy, Japan, Canada, the European Union, IMF, World Bank, and the United Nations.
  • South Africa, Ukraine, and Australia have confirmed their participation.
  • India’s Ministry of External Affairs has stated it has “no information” about any potential visit by PM Modi to the summit.

Source: BT

2. Germany Overtakes Japan as World’s Top Creditor Nation

• What:
  • Germany has become the world’s leading creditor nation, surpassing Japan for the first time in 34 years.
• Why:
  • Germany’s rise is due to its large current account surplus and strong trade performance, while Japan’s assets grew but were outpaced by Germany’s growth.
• Tell me more:
  • Japan’s net external assets reached ¥533.05 trillion ($3.7 trillion) at the end of 2024, a record high, but Germany’s net external assets were higher at ¥569.7 trillion.
  • China remains third with net assets of ¥516.3 trillion.
  • Germany’s current account surplus in 2024 was €248.7 billion, while Japan’s was about €180 billion.
  • The euro-yen exchange rate increased by about 5% last year, which affected the comparison of assets.

Source: TOI

Banking and Economy

1. RBI Imposes ₹54.78 Crore Penalties on 353 Entities

• What:
  • The Reserve Bank of India (RBI) imposed penalties totalling ₹54.78 crore on 353 regulated entities during the financial year 2024–25 for various violations.
• Why:
  • The penalties were imposed for contraventions of statutory provisions and regulatory directions by the regulated entities.
• Tell me more:
  • The enforcement actions were taken against banks, NBFCs, asset reconstruction companies, housing finance companies, and cooperative banks.
  • Violations included non-compliance in areas such as cyber security, exposure norms, income recognition and asset classification, KYC guidelines, fraud reporting, and credit information submission.
  • Cooperative banks received the most penalties, with 264 penalties amounting to ₹15.63 crore.
  • Penalties included ₹7.29 crore on 37 NBFCs and ARCs, ₹83 lakh on 13 housing finance companies, ₹11.11 crore on eight public sector banks, ₹14.8 crore on 15 private sector banks, and penalties on six foreign banks.

Source: ET

2. Rs 2000 Notes Worth Rs 6,181 Crore Still in Circulation

• What:
  • Even after two years of withdrawal, Rs 2000 notes worth Rs 6,181 crore are still in public circulation as of May 31, 2025.
• Why:
  • The Reserve Bank of India (RBI) withdrew the Rs 2000 notes from circulation to manage currency and ensure better compliance, but these notes remain legal tender.
• Tell me more:
  • Rs 2000 notes were officially withdrawn from circulation on May 19, 2023.
  • At the time of withdrawal, Rs 2000 notes worth Rs 3.56 lakh crore were in circulation.
  • 98.26% of the notes have been returned to the banking system.
  • The facility to deposit or exchange Rs 2000 notes at bank branches ended on October 7, 2023, but RBI’s 19 issue offices still accept them.
  • Individuals and businesses can also send Rs 2000 notes by India Post to RBI offices for deposit into their bank accounts.

Source: ET

3. Canara Bank Removes Minimum Balance Requirement for Savings Accounts

• What:
  • Canara Bank has scrapped the average monthly balance (AMB) requirement for all savings bank accounts from June 1.
• Why:
  • The move aims to attract more deposits and provide customers with flexibility, especially as banks face challenges in mobilising deposits due to strong capital markets.
• Tell me more:
  • The waiver applies to all savings accounts, including salary and NRI accounts.
  • Earlier, minimum balance requirements ranged from Rs 500 in rural branches to Rs 1 lakh for power plus accounts.
  • Penalties for not maintaining balance ranged from Rs 25 per month to Rs 60 per day, excluding GST.
  • Canara Bank expects to lose a few hundred crores in penalty income but hopes to gain more deposits in term and recurring deposit accounts.

Source: ET

4. SBI Projects Household Financial Savings to Reach Rs 22 Lakh Crore

• What:
  • State Bank of India’s latest report says household net financial savings may touch Rs 22 lakh crore, or 6.5% of gross national disposable income (GNDI), in 2024-25.
• Why:
  • The increase in financial savings is important for funding government and corporate deficits and supporting macroeconomic stability.
• Tell me more:
  • Net financial savings in 2023-24 stood at 5.1% of GNDI, up from 4.9% in the previous year.
  • The RBI transferred a surplus of Rs 2.69 lakh crore to the government, enhancing fiscal space.
  • The RBI’s balance sheet expanded by 8.19% in 2024-25, less than the nominal GDP growth of 9.9%.
  • Fraud cases declined, but the total defrauded amount tripled to Rs 36,014 crore; card and internet fraud volume dropped from 29,802 to 13,516 cases.

Source: ET

Reports and Indices

1. Climate Change Performance Index 2025

• Organization: Germanwatch, NewClimate Institute, and Climate Action Network (CAN) International
• Total countries: 63 countries and the EU
• Parameters: four categories (GHG Emissions, Renewable Energy, Energy Use, and Climate Policy) consisting of 14 indicators
• Top countries: Denmark (78.37 score)
• India’s rank: 10th (67.99 score), rank down by 3 positions from last edition

Source: ccpi ccpi

GDP Forecasts

1. OECD Lowers India’s FY26 Growth Forecast to 6.3%

• What:
  • OECD has lowered its growth forecast for India in 2025-26 (FY26) to 6.3%, while UBS Securities has raised its forecast for the same year to 6.4%.
• Why:
  • The revision is due to concerns about increased trade tensions, especially higher US tariffs on Indian exports, which may affect export-oriented sectors.
• Tell me more:
  • OECD expects risks from higher US tariffs could impact sectors like textiles, chemicals, and pharmaceuticals.
  • UBS expects no significant increase in tariffs and is hopeful of a US-India trade deal soon.
  • Both OECD and UBS project private consumption in India will gradually strengthen due to rising real incomes, moderate inflation, tax cuts, and a better labour market.
  • OECD lowered its FY27 growth outlook for India to 6.4%.

Source: BS

Defence News

1. India to Build First Polar Research Vessel

• What:
  • India will build its first polar research vessel, with Garden Reach Shipbuilders and Engineers Ltd (GRSE) and Norway-based Kongsberg signing an MoU in Oslo for this project.
• Why:
  • The vessel aims to strengthen India’s capabilities in polar and ocean research and support scientific exploration in polar and southern ocean regions.
• Tell me more:
  • GRSE will construct the vessel in Kolkata with design expertise from Kongsberg.
  • The National Centre for Polar and Ocean Research will use the vessel for research activities.
  • The vessel will be equipped with advanced scientific equipment for studying marine ecosystems and ocean depths.
  • India Meteorological Department plans to acquire two multidisciplinary oceanographic research vessels, each costing ₹1,000 crore, to support deep-sea surveys under the Deep Ocean Mission.

Source: LM

Awards

1. Kumar Mangalam Birla Receives USISPF Global Leadership Award

• What:
  • Kumar Mangalam Birla, Chairman of Aditya Birla Group, has been given the Global Leadership Award by the U.S.-India Strategic Partnership Forum (USISPF) at its eighth annual Leadership Summit in Washington, D.C.
• Why:
  • The award was given to recognize his leadership and Aditya Birla Group’s significant investments and commitment in the United States.
• Tell me more:
  • Kumar Mangalam Birla was honoured along with Arvind Krishna of IBM and Toshiaki Higashihara of Hitachi.
  • Aditya Birla Group is the largest Indian investor in the United States.
  • The company has invested over $15 billion in the U.S. so far.
  • Aditya Birla Group operates in 15 states in the U.S. and has created over 5,400 jobs.

Source: TH

Important Days

1. World Bicycle Day – June 3

Source: TOI

2. World Environment Day – June 5

• Theme (2025): “Shrink Your Plastic Footprint”
• Host Country: South Korea is hosting the global celebrations in 2025.
• History: World Environment Day has been observed since 1973, initiated by the United Nations Environment Programme (UNEP).

Source: PIB

Sports

1. RCB Wins First IPL Title in 2025 Final

• What:
  • Royal Challengers Bengaluru (RCB) won their maiden Indian Premier League (IPL) title by defeating Punjab Kings (PBKS) by six runs in the IPL 2025 final.
• Why:
  • The win marked RCB’s first IPL championship after 18 seasons of the tournament.
• Tell me more:
  • The final was played at Narendra Modi Stadium in Ahmedabad.
  • RCB scored 190 runs, and PBKS were restricted to 184/7 in 20 overs.

Source: IE IE2 ESPN1 ESPN2

Appointments

1. Karol Nawrocki Elected President of Poland

Source: RT

2. Shailendra Nath Gupta Appointed Director General of Defence Estates

• What:
  • Shailendra Nath Gupta has assumed office as the Director General of Defence Estates.
• Why:
  • The appointment is to lead the management and administration of defence land across India.
• Tell me more:
  • Shailendra Nath Gupta is a 1990-batch officer of the Indian Defence Estates Service (IDES).
  • He has served as Chief Executive Officer of multiple Cantonment Boards and Defence Estate Officer of several circles.
  • He has also held positions as Staff Officer, Director of Defence Estates (Central Command), and Principal Director (Eastern Command).
  • The Directorate General of Defence Estates (DGDE) manages about 18 lakh acres of defence land in India.
  • DGDE operates through six commands, 38 Defence Estates Circles, and 61 Cantonment Boards.

Source: TS

3. Lee Jae-myung Elected President of South Korea

Source: BBC

4. Annalena Baerbock Elected President of 80th UN General Assembly

• What:
  • Former German foreign minister Annalena Baerbock was elected President of the 80th session of the United Nations General Assembly.
• Why:
  • The election took place as the regional group including Western Europe took its turn to lead the world body.
• Tell me more:
  • The 80th session of the UN General Assembly will begin on 9 September.
  • Annalena Baerbock is only the fifth woman to lead the General Assembly.
  • The UN80 initiative, launched by Secretary-General António Guterres, aims to make the UN more effective and focused.

Source: UN

5. Stefan Schaffer Appointed CEO of Deutsche India

• What:
  • Deutsche Bank has appointed Stefan Schaffer as the new chief executive officer (CEO) of Deutsche India, its global capability centre (GCC).
• Tell me more:
  • Schaffer will also serve as chief information officer (CIO) for corporate functions and head of technology centres for Deutsche Bank.
  • Deutsche Bank has major engineering hubs in Bengaluru, Pune, Bucharest, Berlin, and Cary.
  • India has over 1,760 global capability centres (GCCs), expected to reach 2,200 by 2029.
  • GCCs in India have a revenue base close to $64.6 billion, projected to touch $100 billion by 2030.
  • The Ministry of Electronics and IT has formed a panel to boost GCC growth in India.

Source: ET

Miscellaneous

1. French Scientist Dr Étienne-Émile Baulieu, Creator of Abortion Pill, Passes Away

• What:
  • Dr Étienne-Émile Baulieu, the French scientist who developed the abortion pill RU-486 (mifepristone), died at the age of 98 in Paris.
• Tell me more:
  • Mifepristone was authorised for sale in 1988 and later listed as an essential medicine by the World Health Organisation in 2010.
  • Dr Baulieu was awarded the Grand Cross of the Legion of Honour by President Macron in 2023 for his humanitarian work.

Source: BS

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