05th-07th July 2025

1. World Zoonoses Day 2025 to Raise Global Health Awareness
2. Julian McMahon, Star of ‘Fantastic Four’, Dies at 56
3. Sub Lt Aastha Poonia Becomes First Woman Navy Fighter Pilot Trainee
4. EU Sets New 2040 Climate Target with Flexibility
5. SBI Helps Add $44 Billion to World Economy
6. Puri to Become Odisha’s Sixth Municipal Corporation
7. Ananth Tech to Start India’s First Private Satellite Internet
8. Government Cuts Toll Rates by 50% on Key Highways
9. Gukesh Wins Rapid Chess Title in Zagreb
10. R.N. Mehta School Wins Top Prize in NASA Contest
11. India and Trinidad & Tobago Sign Six New Agreements to Boost Ties
12. PM Modi Receives Trinidad and Tobago’s Highest Civilian Award
13. Puducherry Becomes First State to Integrate TB Screening in Family Adoption Programme
14. Ancient Egyptian Genome Sequenced for the First Time
15. Swami Vivekananda Death Anniversary 2025
16. SAIL Opens First Overseas Office in Dubai to Strengthen Global Presence
17. Nvidia on Track to Become the World’s Most Valuable Company in History
18. DAC Approved Rs 1.05 Lakh Crore Indigenous Defence Procurement
19. India, Australia Sign Pact for Joint Undersea Surveillance Research
20. India Establishes 1st WOAH-Recognised EDFC in Meerut, UP
21. India Rejoined Unicode Consortium as Supporting Member with Voting Rights
22. SMPP Secures Rs. 300 Crore Indian Army Order for Bulletproof Jackets, Helmets
23. 4th International Conference on Financing for Development Held from June 30 to July 03, 2025 in Seville, Spain
24. GCF Approves USD 200 Million for ADB’s Clean Energy Program in India
25. SEBI Approved MobiKwik Securities to Operate as Stockbroker, Clearing Member
26. NCDEX Signs MoU with IMD to Launch India’s First Weather Derivatives
27. Deepika Padukone Becomes First Indian Actress Honoured with Star on Hollywood Walk of Fame Class of 2026
28. Sahil Kini Appointed as CEO of Reserve Bank Innovation Hub
29. Sukanya Sonowal Named Commonwealth Youth Peace Ambassador
30. MP Cabinet Approves ‘Mukhyamantri Vrindavan Gram Yojana’ to make Villages Self-Reliant
31. Rajasthan CM Bhajan Lal Sharma Announces ‘Garibi Mukt Gaon Yojana’ to Eliminate Rural Poverty
32. INC-WMC Conference Held in Hyderabad; India Unveils Copper and Aluminium Vision Documents
33. Union Minister Amit Shah Laid Foundation, Inaugurated Projects in Pune, Maharashtra
34. LIC Launched Two New Plans, Nav Jeevan Shree & Nav Jeevan Shree Single Premium
35. CCIL IFSC Signs Agreement with Standard Chartered Bank to Act as Settlement Bank
36. Tracxn Report: India Ranks 3rd Globally in Fintech Startup Funding
37. Cochin Shipyard Signs MoU with South Korea’s KSOE to Boost India’s Shipbuilding Capabilities
38. Priyanka Kakkar Appointed Co-President of BRICS CCI Women’s Wing for 2025–27 Term
39. NASA Discovers ‘31/ATLAS’ – Third Known Interstellar Comet Passing Through Our Solar System
40. International Day of Cooperatives – July 5, 2025
41. Odisha & Skymet Weather Services Signed MoU for Implementation of WINDS Project
42. Bihar Launches Mukhya Mantri Pratibha Scheme for Youth Internships and Skill Development

National News

1. India, Trinidad and Tobago Sign Six Key Agreements

• What:
  • India and Trinidad and Tobago signed six agreements to boost cooperation in sectors like infrastructure, pharmaceuticals, culture, sports, and diplomatic training.
• Why:
  • The agreements aim to deepen bilateral ties, promote economic and cultural collaboration, and support the Indian diaspora in Trinidad and Tobago.
• Tell me more:
  • Prime Minister Narendra Modi announced Overseas Citizenship of India (OCI) cards up to the sixth generation for the Indian diaspora in Trinidad and Tobago.
  • Both countries agreed to work together in defence, agriculture, healthcare, digital transformation, unified payments interface, and capacity building.
  • India will support Trinidad and Tobago’s candidature for a non-permanent seat on the UN Security Council for 2027-28, and Trinidad and Tobago will support India for 2028-29.
  • The six MoUs include cooperation in pharmacopoeia, quick-impact projects, culture, sports, and diplomatic training.
  • The sports pact will foster training, talent exchange, infrastructure, and joint capacity building, with India offering to train young women cricketers from Trinidad and Tobago.
  • Prime Minister Narendra Modi was also conferred with The Order of the Republic of Trinidad & Tobago, the highest civilian award of Tinidad & Tobago.

Source: IE IT

2. India and Australia Launch Joint Undersea Surveillance Research

• What:
  • India and Australia have started a three-year joint research project to improve undersea surveillance for early detection and tracking of submarines and underwater vehicles.
• Why:
  • The project aims to enhance maritime security and strengthen strategic partnerships between the two countries.
• Tell me more:
  • The research involves Australia’s Defence Science and Technology Group (DSTG) and India’s Defence Research and Development Organisation (DRDO) Naval Physical and Oceanographic Laboratory.
  • This initiative is part of growing maritime cooperation under the Quad framework, which includes India, Australia, the US, and Japan.

Source: TOI

3. India Green Finance Facility Gets $200 Million Boost

• What:
  • The Green Climate Fund (GCF) has approved $200 million for a new Asian Development Bank (ADB)-led program to support clean energy investment in India.
• Why:
  • The funding aims to help India transform its energy systems and reach its net zero emission target by 2070 by encouraging investment in emerging clean energy sectors.
• Tell me more:
  • The funding supports ADB’s India Green Finance Facility (IGFF), a blended finance program to attract public and private investment in new clean energy technologies.
  • IGFF will provide lines of credit to India’s leading development finance institutions (DFIs), which will develop project pipelines.
  • The facility will fund technologies like round-the-clock renewable energy, green hydrogen, compressed biogas, electric transport in rural areas, and decentralized renewable energy solutions.
  • A $65-million risk sharing facility will offer partial credit guarantees to help smaller developers access affordable finance for compressed biogas projects.
  • The IGFF partnership is ADB’s first with the GCF in India and aims to strengthen the ability of Indian financial institutions to scale up climate action.

Source: ADB

4. INC-WMC Conference Focuses on Sustainable Mine Closure

• What:
  • The Indian National Committee of the World Mining Congress (INC-WMC) held an international conference in Hyderabad on ‘Sustainable and Responsible Mining through Best Mine Closure Practices’.
• Why:
  • The conference aimed to promote sustainable and responsible mining by sharing best practices and innovative solutions for mine closure.
• Tell me more:
  • Key initiatives released included the Mission Green Booklet, Vision Documents on Copper and Aluminium, the RECLAIM Framework, and the Exploration Module of the Single Window Clearance System.
  • The event saw participation from major mining and industrial organisations like Coal India, NLC India, Tata Steel, Hindalco, Reliance Industries, Adani, and others.
  • The conference featured national and international speakers who discussed strategies for a greener and safer mining sector.

Source: PIB

5. MeitY Rejoins Unicode Consortium as Supporting Member

• What:
  • The Ministry of Electronics and Information Technology (MeitY) has rejoined the Unicode Consortium as a Supporting Member, becoming one of only two government members with voting rights.
• Why:
  • This move aims to ensure Indian languages are recognized and supported globally in digital platforms and to influence decisions on text and emoji standards.
• Tell me more:
  • Unicode Consortium and its technical body decide the standard text and emojis used across the internet.
  • MeitY was previously a member from 2000 to 2019 and for one year in 2021.
  • Unicode is the standards body for internationalization of software and services, used on more than 20 billion devices worldwide.

Source: UC TH

State News

1. Puri Municipality to Become Municipal Corporation

• What:
  • Puri municipality will be upgraded into a municipal corporation including Puri city and surrounding areas.
• Why:
  • The government aims to make Puri a major spiritual and tourist hub by 2036 with better infrastructure.
• Tell me more:
  • Puri will become the sixth municipal corporation in Odisha after Bhubaneswar, Cuttack, Sambalpur, Berhampur, and Rourkela.
  • The upgradation process will start immediately from July 6, 2025.
  • The Bahuda Yatra festival will be held on July 6, 2025, attracting lakhs of devotees to Puri.

Source: IE

2. Puducherry First to Screen TB in Family Adoption Program

• What:
  • Puducherry has become the first state to include tuberculosis (TB) screening for families adopted by medical students under the Family Adoption Program.
• Why:
  • The initiative aims to detect TB early and support diagnosis and treatment for family members found with symptoms.
• Tell me more:
  • Medical students adopt families and screen all members for TB, assisting with diagnosis and treatment if needed.
  • Puducherry has also started using verbal autopsy to identify reasons for TB-related deaths and improve early healthcare-seeking behaviour.
  • Nine medical colleges in Puducherry contribute to 45% of TB notifications and participate in active case finding drives.
  • Medical colleges provide diagnostic facilities, earmarked beds, and community support for TB patients.
  • Vulnerable populations are mapped and tested using AI-enabled handheld chest X-rays and NAAT molecular diagnostics.

Source: TH

3. India Gets First Equine Disease-Free Compartment in Meerut Cantonment

• What:
  • India has established its first Equine Disease-Free Compartment (EDFC) at the Remount Veterinary Corps Centre & College in Meerut Cantonment, Uttar Pradesh, officially recognized by the World Organisation for Animal Health.
• Why:
  • The EDFC enables Indian sport horses to participate in global equestrian events and boosts India’s prospects in equine trade, breeding, and sports.
• Tell me more:
  • The facility was developed through collaboration among the Department of Animal Husbandry and Dairying, Ministry of Defence, Equestrian Federation of India, and the Uttar Pradesh government.
  • The EDFC is certified free from major equine diseases like Equine Infectious Anemia, Equine Influenza, Equine Piroplasmosis, Glanders, and Surra.
  • India has maintained a disease-free status for African Horse Sickness since 2014.
  • The EDFC follows strict biosecurity and veterinary protocols to meet international standards.
  • The certification allows Indian horses and riders to compete internationally, which was previously restricted due to disease concerns.

Source: HT

4. Mukhya Mantri Pratigya Scheme Launched for Bihar Youth

• What:
  • Bihar government launched the Mukhya Mantri Pratigya scheme to provide financial support for internships to youths after passing class 12 board examination.
• Why:
  • The scheme aims to address youth unemployment and improve industry readiness among students through paid internships.
• Tell me more:
  • Youths aged 18 to 28 who have completed skill development training, ITI diploma, graduation, or post-graduation are eligible for financial support during internships.
  • Internship support ranges from three months to twelve months, with different monthly amounts for higher secondary, ITI diploma, and graduate or postgraduate candidates.
  • Additional livelihood support is given to those doing internships outside their home district or state, for up to three months.
  • Payments are made directly to the bank accounts of beneficiaries, and a committee led by the Development Commissioner will oversee the scheme.
  • The cabinet also approved a pension scheme for artists, a training scheme to preserve rare arts, amendments to factory rules for women, and medical grants for elected representatives.

Source: HT

5. Madhya Pradesh Approves Major Rural and Education Initiatives

• What:
  • The Madhya Pradesh cabinet, chaired by Chief Minister Mohan Yadav, approved several key decisions including the launch of Mukhyamantri Vrindavan Gram Yojana, bridge reconstruction, a new Rashtriya Raksha University campus, hostel mess operations, and new posts for forensic and tribal offices.
• Why:
  • The measures aim to promote self-reliant villages, improve rural infrastructure, enhance education and security, and support effective law implementation in the state.
• Tell me more:
  • Mukhyamantri Vrindavan Gram Yojana will select one village per district (minimum 2,000 people and 500 cattle) for holistic rural development focusing on cow rearing, organic farming, water and solar energy, and rural entrepreneurship.
  • Rs 4,572 crore approved for reconstructing 1,766 damaged bridges from 2025-26 to 2029-30 to ensure year-round connectivity.
  • A campus of Rashtriya Raksha University will be established in Bhopal with a grant of Rs 1.05 crore per year for three years, using 10 acres at RGPV.
  • Approval for mess operations in 108 hostels for 9,050 students under Backward Class Welfare Department, with Rs 31 crore sanctioned.
  • 1,266 new posts including 202 scientific officers for forensic labs, and 48 posts for District Tribal and Scheduled Caste Coordinators in three new districts.

Source: ET

6. Pandit Deendayal Upadhyay Garibi Mukt Gaon Yojana Launched in Rajasthan

• What:
  • Rajasthan Chief Minister Bhajanlal Sharma launched the ‘Pandit Deendayal Upadhyay Garibi Mukt Gaon Yojana’ to eliminate rural poverty, selecting about 5,000 villages in the first phase with a budget of Rs 1,300 crore.
• Why:
  • The scheme aims to make rural families self-reliant through livelihood, skill development, and financial inclusion, transforming the economic and social landscape of rural Rajasthan.
• Tell me more:
  • BPL families will get targeted support and up to Rs one lakh in financial aid for self-employment and livelihood activities.
  • Women in self-help groups are eligible for working capital support up to Rs 15,000 per family.
  • Families rising above the poverty line on their own will receive a Rs 21,000 incentive and an ‘Atmanirbhar Parivar Card’.
  • The first phase identified 30,631 BPL families across 5,002 villages, with bank account verification underway for Direct Benefit Transfer.

Source: TW

7. Amit Shah Inaugurates Key Projects in Pune

• What:
  • Union Home Minister Amit Shah inaugurated and laid the foundation stone for three major initiatives in Pune: the equestrian statue of Bajirao Peshwa I at NDA, the Jayaraj Sports and Convention Centre, and the PHRC Lifespace Health City project.
• Why:
  • These projects aim to boost infrastructure, sports, and healthcare services in Pune and the wider western Maharashtra region.
• Tell me more:
  • The Bajirao Peshwa I statue was unveiled at the National Defence Academy (NDA).
  • The Jayaraj Sports and Convention Centre was inaugurated to promote sports and events.
  • The PHRC Lifespace Health City project’s foundation stone was laid to improve healthcare facilities in the region.
  • India’s economy is now ranked fourth globally, with a goal to become the world’s leading economy by 2047.

Source: NOA

8. Odisha Signs MoU for Weather Information Network Data System

• What:
  • Odisha state government signed an MoU with Skymet Weather Services Pvt Ltd to implement the Weather Information Network Data System (WINDS) for better weather data and information.
• Why:
  • The initiative aims to strengthen weather data infrastructure to support the Pradhan Mantri Fasal Bima Yojana (PMFBY) and improve risk management in agriculture, insurance, and disaster management.
• Tell me more:
  • WINDS will improve weather data accessibility across Odisha with automatic weather stations at block level and automatic rain gauges at panchayat level.
  • The Agriculture and Revenue & Disaster Management departments will jointly implement the project.
  • Funding for the project will come from the PMFBY budget managed by the Cooperation department.
  • The system will ensure timely and accurate weather data for better monitoring and decision-making.
  • The MoU was signed by the Director of Agriculture & Food Production and the CEO of Skymet.

Source: IE

International News

1. EU Proposes 90% Emissions Cut by 2040

• What:
  • The European Commission has proposed to amend the EU Climate Law to set a target of reducing net greenhouse gas emissions by 90% by 2040 compared to 1990 levels.
• Why:
  • The proposal aims to give certainty to investors, strengthen industrial leadership, foster innovation, and improve Europe’s energy security.
• Tell me more:
  • The new target builds on the EU’s progress towards its 2030 goal of 55% emission reduction and seeks a flexible and practical path to full decarbonisation by 2050.
  • Flexibility mechanisms include using high-quality international credits from 2036, integrating permanent removals into the EU Emissions Trading System, and allowing cross-sector compensation.
  • The Clean Industrial Deal is a key part of achieving the 2040 target, with recent actions including a new State Aid Framework and simplification of the Carbon Border Adjustment Mechanism.

Source: EU

2. Ancient Egyptian Genome Sequenced for the First Time

• What:
  • Researchers have sequenced the first whole ancient Egyptian genome from a man who lived over 4,500 years ago during Egypt’s Old Kingdom.
• Why:
  • The study provides new insights into the ancestry, migration, and cultural exchanges of ancient Egypt.
• Tell me more:
  • This is the oldest and most complete genome sequenced from ancient Egypt.
  • The genome sequencing of the ancient Egyptian individual was led by Dr. Adeline Morez Jacobs, a visiting research fellow at Liverpool John Moores University in England.

Source: CNN

3. 4th International Conference on Financing for Development Held in Spain

• What:
  • The 4th International Conference on Financing for Development (FFD4) was held from 30 June to 3 July 2025 in Seville, Spain, to address new issues and support the Sustainable Development Goals.
• Why:
  • The conference aimed to reform the international financial system and promote investment for achieving the Sustainable Development Goals.
• Tell me more:
  • FFD4 assessed progress on the Monterrey Consensus, Doha Declaration, and Addis Ababa Action Agenda.
  • The conference focused on new and emerging financial challenges and the urgent need for SDG implementation.
  • The ECOSOC Forum on Financing for Development and the 4th Preparatory Committee Session were held ahead of FFD4 at the UN Headquarters in New York.

Source: UN UN FFD

4. NASA Discovers Third Interstellar Comet in Solar System

• What:
  • NASA has discovered an intergalactic comet, named 3I/Atlas, which is the third known interstellar object to pass through our solar system.
• Why:
  • The discovery helps scientists study objects from other star systems and understand more about the universe beyond our solar system.
• Tell me more:
  • The comet was observed using Chile’s Atlas telescope and is currently near Jupiter, about 416 million miles from the sun.
  • 3I/Atlas will move between the orbits of Mars and Earth in October, passing safely within 150 million miles of Mars.
  • The comet is not a threat to Earth and will be visible to telescopes until September before it gets too close to the sun.
  • Astronomers worldwide are observing 3I/Atlas to learn about its size and shape.
  • The comet is expected to reappear on the other side of the sun in December.

Source: TOI

Banking and Economy

1. SBI Celebrates 70 Years, Achieves Major Milestones

• What:
  • State Bank of India is celebrating its 70th anniversary with a balance sheet of Rs 66 trillion, now larger than the GDPs of 175 countries.
• Why:
  • The celebration marks SBI’s growth and its significant contribution to India’s economy over the past seven decades.
• Tell me more:
  • SBI’s deposits grew from Rs 210.95 crore in 1955 to Rs 53,82,190 crore in March 2025, and advances from Rs 116.24 crore to Rs 41,63,312 crore.
  • SBI’s balance sheet is now Rs 66 trillion, and it accounts for 1.1% of global GDP and 16% of India’s GDP.
  • SBI has 53 crore customers, making it the third largest “country” after India and China in terms of customer base.
  • SBI has over 23,000 branches, 78,000 customer service points, 64,000 ATMs, and is the largest employer in the banking sector with 2,36,226 employees.

Source: IE

2. Private Indian Company to Offer Satcom Services

• What:
  • Ananth Technologies will become the first private Indian company to offer satellite communication services through a locally-made satellite across the country.
• Why:
  • The move aims to boost private sector participation in India’s satellite communication market and provide broadband from space services.
• Tell me more:
  • Ananth Technologies received authorisation from IN-SPACe to start broadband from space services from 2028.
  • The company will deploy a four-tonne geostationary communication satellite with a capacity of 100 gigabits per second.
  • An investment of Rs 3,000 crore is planned for the venture, with more investment possible based on demand.
  • GEO satellites, unlike LEO satellites, can cover all of India with one satellite but have higher latency.

Source: ET

3. Government Reduces Toll Rates on National Highways

• What:
  • The government has announced up to 50 percent reduction in toll rates on sections of National Highways with major structures like tunnels, bridges, flyovers, and elevated corridors.
• Why:
  • The reform aims to lower overall travelling costs on important highway stretches and provide relief to road users.
• Tell me more:
  • The Ministry of Road Transport and Highways amended the National Highways Fee Rules, 2008, introducing a new formula for toll calculation.
  • Toll will now be charged based on the lesser of two values: ten times the length of the structure plus the rest of the highway, or five times the total length including the structure.
  • The change was officially notified on July 2, 2025.
  • Earlier, motorists were charged at a rate ten times higher for every kilometre of structure due to higher construction and maintenance costs.
  • The reform is expected to encourage greater usage of the national highway network.

Source: HT

4. SAIL Opens First International Office in Dubai

• What:
  • Steel Authority of India Limited (SAIL) has inaugurated its first Representative Office in Dubai.
• Why:
  • The move is part of SAIL’s global expansion strategy and supports India’s vision to enhance the international presence of its steel industry.
• Tell me more:
  • The Dubai office is SAIL’s first international office in West Asia.
  • The initiative aligns with India’s national steel production target of three hundred million tonnes by 2030.

Source: NOA

5. Nvidia Set to Become World’s Most Valuable Company

• What:
  • Nvidia’s market capitalization reached $3.92 trillion, putting it on track to become the most valuable company in history, surpassing Apple’s previous record.
• Why:
  • The surge is driven by strong demand for Nvidia’s high-end AI chips, which are essential for training large artificial intelligence models.
• Tell me more:
  • Nvidia’s newest chips are widely used by companies building AI data centers, including Microsoft, Amazon, Meta, Alphabet, and Tesla.
  • The company’s market value has nearly octupled since 2021, now exceeding the combined value of the Canadian and Mexican stock markets.
  • Nvidia’s stock price has rebounded more than 68% from its recent low in April, following optimism about trade deals and AI growth.
  • Nvidia’s current price-to-earnings ratio is about 32, lower than its five-year average, due to rapidly rising earnings estimates.
  • Microsoft and Apple are the next most valuable companies, with market capitalizations of $3.7 trillion and $3.19 trillion, respectively.

Source: ET

6. SMPP to Supply Bulletproof Jackets and Helmets to Army

• What:
  • Defence equipment manufacturer SMPP Ltd has received orders worth over Rs 300 crore from the Indian Army to supply bulletproof jackets and advanced ballistic helmets.
• Why:
  • The order aims to enhance the protection and operational efficiency of Indian soldiers with advanced personal protection gear.
• Tell me more:
  • SMPP will supply 27,700 bulletproof jackets and 11,700 advanced ballistic helmets under emergency provision.
  • The bulletproof jackets feature dynamic load distribution and a quick release system for better comfort and protection against armour-piercing bullets.
  • The advanced ballistic helmet is claimed to be the world’s first to protect against AK-47 fired hard steel core ammunition.

Source: BS

7. MobiKwik Securities Gets SEBI Nod to Act as Stockbroker

• What:
  • Mobikwik Securities Broking Private Limited (MSBPL), a wholly-owned subsidiary of One MobiKwik Systems, has received regulatory approval from SEBI to operate as a stockbroker and clearing member.
• Why:
  • The approval allows MobiKwik to expand its services in the capital markets ecosystem and accelerate growth in its wealth distribution business.
• Tell me more:
  • MSBPL can now carry out buying, selling, dealing, clearing, and settlement of equity trades.
  • The company received SEBI’s certificate of registration on July 1, which led to a nearly 4% rise in One MobiKwik Systems’ share price on the NSE.
  • MobiKwik has evolved from a digital payments company to a fintech platform with over 17.64 crore users and 46 lakh merchants.

Source: ET

8. NCDEX and IMD Sign MoU for India’s First Weather Derivatives

• What:
  • National Commodity and Derivatives Exchange Ltd (NCDEX) and India Meteorological Department (IMD) have signed an agreement to develop India’s first weather derivatives.
• Why:
  • The initiative aims to help farmers and allied sectors manage risks from climate-related events like erratic rainfall, heatwaves, and unseasonal weather.
• Tell me more:
  • The weather derivatives will allow seasonal and location-specific contracts to hedge against weather risks in agriculture, transportation, and allied industries.
  • The partnership will also support capacity-building, joint research, and training for stakeholders such as FPOs, agri-traders, and analysts.
  • NCDEX will test the products considering monsoon cycles before seeking regulatory approval.
  • IMD’s scientific expertise will now be used in the financial sector to support economic stability and innovation.

Source: ET

9. LIC Launches Two New Flexible Insurance Plans

• What:
  • Life Insurance Corporation of India (LIC) has launched two new plans, Nav Jeevan Shree Plan 912 and Nav Jeevan Shree Plan 911, offering various premium payment options and combining savings with protection.
• Why:
  • The plans are designed to help buyers meet financial needs at different life stages with flexible payment options and tax benefits.
• Tell me more:
  • Nav Jeevan Shree Plan 912 is an endowment plan with guaranteed additions of 8.5% to 9.5% of the annual premium, depending on the policy term (10 to 20 years), with premium payment terms of 6, 8, 10, or 12 years.
  • Nav Jeevan Shree Plan 911 is a single premium policy suitable for those who prefer a one-time payment.
  • The minimum age of entry is 30 days and the maximum is 60 years, with a minimum sum assured of Rs 5 lakh and no maximum limit.
  • Endowment policies like these typically offer returns around 6%, and the maturity amount is tax-free under Section 10(10d) if annual premiums for all policies bought after 1 April 2023 do not exceed Rs 5 lakh.
  • If the annual premium exceeds Rs 5 lakh, the maturity amount will be taxed as per the buyer’s slab rate.

Source: TOI

10. Standard Chartered to Settle Foreign Currency at GIFT City

• What:
  • CCIL IFSC Ltd has partnered with Standard Chartered Bank, appointing it as the Settlement Bank for the Foreign Currency Settlement System (FCSS) in GIFT City, Gujarat.
• Why:
  • The agreement aims to enable real-time settlement of USD transactions within GIFT IFSC, supporting the growth of a world-class banking centre.
• Tell me more:
  • CCIL IFSC Ltd is a subsidiary of The Clearing Corporation of India Ltd (CCIL).
  • Standard Chartered Bank will use its international expertise to facilitate the settlement process.
  • The FCSS will initially focus on real-time settlement of US dollar transactions at GIFT City.

Source: HBL

11. India FinTech Sector Ranks Third Globally in Funding

• What:
  • India’s financial technology sector ranked third in global startup funding in the first half of 2025, raising $889 million, according to Tracxn’s Geo Semi-Annual India FinTech Report H1 2025.
• Why:
  • The report highlights strong investor interest in scalable, innovation-led fintech models despite an overall dip in funding.
• Tell me more:
  • Funding in H1 2025 dropped 26% from H2 2024 and 5% from H1 2024, but early-stage funding rose 10% from H2 2024 to $361 million.
  • Seed-stage investments fell to $91.2 million, down 27% from the previous half-year.
  • There were 16 mergers and acquisitions (M&A) in H1 2025, a 45% increase from a year ago, with key deals like Groww’s $150 million acquisition of Fisdom.
  • Bengaluru attracted 55% of total fintech funding, followed by Mumbai with 14%.
  • Accel led early-stage deals, while Blume Ventures, Venture Catalysts, and 100Unicorns were active in seed-stage funding.

Source: BS

Defence News

1. Defence Acquisition Council Approves Major Indigenous Procurements

• What:
  • The Defence Acquisition Council, chaired by Raksha Mantri Rajnath Singh, approved Acceptance of Necessity (AoN) for 10 capital acquisition proposals worth about Rs 1.05 lakh crore through indigenous sourcing.
• Why:
  • The approvals aim to boost operational preparedness of the Armed Forces and promote indigenous design and development in defence procurement.
• Tell me more:
  • AoNs were given for procurement of Armoured Recovery Vehicles, Electronic Warfare System, Integrated Common Inventory Management System for the Tri-Services, and Surface-to-Air Missiles.
  • Additional approvals include Moored Mines, Mine Counter Measure Vessels, Super Rapid Gun Mount, and Submersible Autonomous Vessels.
  • These procurements will improve mobility, air defence, supply chain management, and risk mitigation for naval and merchant vessels.
  • All procurements fall under the Buy (Indian-Indigenously Designed Developed and Manufactured) category.

Source: PIB

Awards

1. First Woman Fighter Pilot Trained by Indian Navy

• What:
  • Sub Lieutenant Aastha Poonia has become the first woman to be trained as a fighter pilot of the Indian Navy.
• Why:
  • This achievement shows the Indian Navy’s commitment to gender inclusivity and promoting equality in Naval Aviation.
• Tell me more:
  • Sub Lieutenant Aastha Poonia and Lt Atul Kumar Dhull received the ‘Wings of Gold’ from RAdm Janak Bevli, ACNS (Air).
  • The graduation took place after completing the Second Basic Hawk Conversion Course at IN Dega.
  • Slt Aastha Poonia is the first woman to be streamed into the Fighter stream of Naval Aviation.

Source: TOI

2. S.R.N. Mehta CBSE School Wins NASA Space Contest

• What:
  • S.R.N. Mehta CBSE School of Kalaburagi won first prize in the 8th grade category of the NASA Ames Research Center–National Space Society Space Settlement Design Contest 2025.
• Why:
  • The achievement highlights the school’s commitment to encouraging innovation, scientific thinking, and global excellence among students.
• Tell me more:
  • The winning project, titled IRA, was developed by a team of 11 students who designed a sustainable space colony.
  • The contest had over 4,900 students from 25 countries participating.
  • The team presented their project at the International Space Development Conference 2025 in Orlando, USA.
  • Their work received praise from more than 250 international space scientists, astronauts, and dignitaries.
  • The students visited NASA’s Kennedy Space Center and interacted with astronauts during their trip.

Source: TH

3. Deepika Padukone to Receive Hollywood Walk of Fame Star

• What:
  • Deepika Padukone has been selected to receive a star on the Hollywood Walk of Fame as part of the Class of 2026.
• Tell me more:
  • The announcement was made at a live press conference from Ovation Hollywood.
  • Other honourees include Miley Cyrus, Timothee Chalamet, Emily Blunt, Marion Cotillard, Rachel McAdams, Franco Nero, and Gordon Ramsay.
  • Deepika made her Hollywood debut in 2017 with ‘xXx: Return Of Xander Cage’.
  • She has been featured in TIME’s 100 most influential people list and Variety’s International Women’s Impact Report.

Source: IE

Important Days

1. World Zoonoses Day – July 6

• World Zoonoses Day commemorates the first successful rabies vaccination by Louis Pasteur in 1885 and raises awareness about zoonotic diseases.

Source: FAO

2. Swami Vivekananda’s Death Anniversary on July 4

• Swami Vivekananda, a renowned spiritual leader and thinker from India, passed away on July 4, 1902, at the age of 39, but his teachings continue to motivate people.
• Swami Vivekananda’s birth anniversary, also known as National Youth Day, is celebrated on January 12th.

Source: IT

3. International Day of Cooperatives – July 5

• Theme: Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World

Source: UN

Sports

1. Magnus Carlsen Wins SuperUnited Rapid and Blitz Croatia

• What:
  • Magnus Carlsen won the SuperUnited Rapid and Blitz Croatia chess tournament in Zagreb after five days of rapid and blitz games.
• Tell me more:
  • Carlsen was third after the rapid section but won the event after the blitz rounds, finishing 2.5 points ahead of Wesley So.
  • Indian world champion Gukesh led after the rapid games but finished third overall, three points behind Carlsen.

Source: IE

Memorandum of Understanding

1. India, Hyundai’s KSOE Sign MoU to Boost Shipbuilding

• What:
  • HD Korea Shipbuilding & Offshore Engineering (KSOE), a Hyundai company, has signed a Memorandum of Understanding (MoU) with Cochin Shipyard Limited to develop India’s shipbuilding sector.
• Why:
  • The partnership aims to help India become a leading shipbuilding nation by boosting local capabilities, sharing advanced technology, and supporting green shipbuilding.
• Tell me more:
  • India currently holds less than 1% of the global shipbuilding market but targets to be in the top 10 by 2030 and top 5 by 2047.
  • The MoU will provide Cochin Shipyard access to advanced ship design, automation, eco-friendly technologies, and project execution expertise from KSOE.
  • The collaboration includes knowledge sharing, technical support, and aims to upgrade India’s maritime workforce and infrastructure.
  • India’s government supports the sector with incentives like the Rs 25,000 crore Maritime Development Fund and grants for green vessel construction.
  • India’s Maritime India Vision 2030 and Amrit Kaal Vision 2047 focus on shipbuilding, port development, logistics, and coastal economic zones.

Source: ET

Appointments

1. Sahil Kini Appointed CEO of Reserve Bank Innovation Hub

• What:
  • Sahil Kini has been appointed as the new Chief Executive Officer (CEO) of the Reserve Bank Innovation Hub (RBIH).
• Tell me more:
  • Sahil Kini is the co-founder of Setu, a Bengaluru-based API fintech acquired by Pine Labs in 2022.
  • He was part of the IndiaStack team and has experience at McKinsey, Aspada Investments, MagnetWorks, and Titan Industries.
  • Kini is an alumnus of IIT Madras and has focused on product innovation and policy.
  • He succeeds Rajesh Bansal, the inaugural CEO of RBIH, who completed his four-year term in April 2025.

Source: ET

2. IIT Guwahati Student Named Commonwealth Youth Peace Ambassador

• What:
  • Sukanya Sonowal, a student from IIT Guwahati, has been selected as the Commonwealth Youth Peace Ambassador and will serve as Lead – Communications & Public Relations for the 2025-2027 term in the Commonwealth Youth Peace Ambassadors Network (CYPAN) Executive Committee.
• Why:
  • The selection recognises her commitment to peacebuilding, leadership experience, and dedication to promoting peace, respect, and understanding across Commonwealth nations.
• Tell me more:
  • Sukanya is a 4th-year B.Tech. student in Biosciences and Bioengineering and co-founder of STEMvibe, an initiative for STEM outreach in India.
  • She was chosen after a rigorous three-stage selection process, including application and interviews, based on her experience in communications, community service, and leadership.
  • Sukanya has contributed to IIT Guwahati’s Techniche festival as part of the Media and Branding team and led national-level initiatives like The Integral Cup mathematics competition.
  • She has engaged over 3,000 participants through STEMvibe and built collaborations with international organisations.
  • Sukanya is from Lakhimpur district, Assam, and her selection has been celebrated by IIT Guwahati.

Source: HT

3. Priyanka Kakkar Named Co-President of BRICS CCI Women’s Wing

• What:
  • Priyanka Kakkar, chief spokesperson of Aam Aadmi Party, has been appointed as Co-President of the BRICS Chamber of Commerce and Industry Women’s Wing for the 2025-2027 term.
• Why:
  • The appointment recognises her leadership and commitment to women’s empowerment across BRICS+ nations.
• Tell me more:
  • BRICS CCI is a not-for-profit organisation that promotes economic collaboration among BRICS+ countries: Brazil, Russia, India, China, South Africa, Iran, Egypt, Ethiopia, UAE, and Indonesia.
  • The organisation supports business growth through initiatives, forums, and networking.
  • Over the past decade, BRICS CCI has expanded with new chapters, more members, and partnerships with global organisations.
  • As Co-President, Priyanka Kakkar will guide strategy, mentor women leaders, and help create an equitable ecosystem across BRICS nations.
  • Her appointment is for two years, from FY 2025 to FY 2027.

Source: DNA

Miscellaneous

1. Julian McMahon, Star of Nip/Tuck, Passes Away at 56

• Hollywood Actor Julian McMahon, known for roles in Nip/Tuck, FBI: Most Wanted, and Fantastic Four movies, has died at the age of 56 after battling cancer.

Source: HT

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