12th June 2025

1. Goa’s Feni Secured GI Tag: A New Chapter for the Heritage Spirit
2. Finland Inaugurates Honorary Consulate in Ahmedabad, Appoints Kulin Lalbhai as Honorary Consul
3. DFCC Bank Becomes 1st Foreign Corporate to List Green Bonds on NSE IX
4. BEL & Tata Electronics ink pact to boost India’s semiconductor self-reliance
5. TCS and Virgin Atlantic Sign 7-Year Deal for AI & Cloud Transformation
6. AP Signs MoU with NVIDIA to Boost AI Ecosystem
7. AP Government Signed MoU with NITI Aayog & ISEG Education Foundation on Energy Transition Roadmap
8. TVS Motor Appointed Sudarshan Venu as CMD
9. SBI MF, Goldman Sachs & Others Acquire 1.8% Stake in Bajaj Finserv for Rs. 5,506 crore
10. Hyderabad-based TakeMe2Space to Launch India’s First ‘Thinking Data Compute’ Satellite
11. ‘Rajnath Aam’: Newly Developed Mango Variety Named in Honour of Defence Minister Rajnath Singh
12. Senior Congress Leader Thennala Balakrishna Pillai Passed Away
13. Katrina Kaif Appointed Global Tourism Ambassador For The Maldives
14. Cipla Health Launches ‘Cipladine – Aapka Fast Aid Expert’ Campaign with Neena Gupta
15. India’s First Underwater Museum to Be Built Around INS Guldar in Maharashtra
16. Indian Army Participates in Exercise Khaan Quest 2025 in Mongolia
17. 1st Task Force Meeting Held to Boost India’s Textile Exports
18. Cabinet Approves ₹6,405 Cr Rail Projects to Boost Connectivity Across Three States
19. ICG Battles Fire on Drifting Cargo Vessel off Kerala Coast
20. Centre Slashes Customs Duty on Crude Edible Oils to Ease Inflation
21. India Hosts ITU’s FG-AINN Meet: Shaping the Future of AI-Native Telecom Networks
22. World Day Against Child Labour 2025
23. IREDA Raises ₹2,005.90 Crore via QIP to Power Renewable Energy Push
24. SBI General Insurance Appoints Mohd. Arif Khan as Deputy CEO
25. French and UAE Banks Set to Expand Footprint in GIFT City’s Financial Landscape
26. ₹5,000 Cr Green Bonds in RBI’s ₹30,000 Cr G-Sec Auction to Fund Eco Projects
27. FSIB Picks R Doraiswamy as MD & CEO of LIC

National News

1. India-EU FTA Talks Gain Momentum, Finnish Consulate Opens in Gujarat

• What:
  • Leaders from India and Europe are aiming to finalize a Free Trade Agreement (FTA) by the end of this year, as stated by Finland’s Ambassador to India during the opening of the Finnish embassy’s Honorary Consulate in Gujarat.
• Why:
  • The goal is to strengthen trade relations and deepen cooperation between India and the European Union.
• Tell me more:
  • The Finnish Honorary Consulate was inaugurated at Arvind Limited’s Corporate Office in Ahmedabad, with Kulin Lalbhai appointed as Honorary Consul of Finland.
  • The Finnish Ambassador highlighted the historic visit of the entire EU Commission to India, boosting FTA negotiations.
  • Over 100 Finnish companies operate in India, around 10 of them in Gujarat, focusing on sectors like clean energy, circular economy, and smart infrastructure.
  • Annual trade between India and Finland is about three billion Euros, with Finland exporting more goods and India exporting more services.
  • Finland plans to organize a roadshow in Helsinki next autumn to showcase opportunities in India and attract Indian students and healthcare personnel.

Source: ie

2. Textiles Task Force Holds First Meeting to Boost Exports

• What:
  • The first meeting of the Task Force on Textiles Exports was held under the Chairmanship of Commerce Secretary, Shri Sunil Barthwal, at Vanijya Bhawan in Delhi on 10th June 2025 to discuss strategies for increasing India’s textile exports.
• Why:
  • The meeting aimed to create a unified platform for all stakeholders to address key issues in the textile sector and develop strategies to enhance India’s share in global textile exports.
• Tell me more:
  • The meeting discussed issues across the textile value chain, including ESG infrastructure upgrades, renewable energy use, EU Deforestation Regulation, e-commerce, regulatory simplification, labour, cost competitiveness, skilling, branding, interest subvention schemes, certification and testing assistance, collateral support for MSME exporters, export incentives like RoDTEP/RoSCTL/Duty Drawback, PM MITRA Parks, new jute products, separate HS codes for GI products, and productivity of natural fibres.
  • Export Promotion Mission and the formation of sub-task forces on specific issues were also discussed.
  • The meeting included officials from the Department of Commerce, Ministry of Textiles, Export Promotion Councils, Industry Associations, and exporters.
  • Sub-task forces will be led by relevant ministries with participation from councils and industry to provide actionable recommendations.
  • The meeting was chaired by Commerce Secretary, Shri Sunil Barthwal.

Source: pib

3. Third Meeting of FG-AINN on AI-Native Telecom Held in Delhi

• What:
  • The third meeting of the ITU-T Focus Group on AI-Native for Telecommunication Networks (FG-AINN) was inaugurated in New Delhi to discuss AI integration in telecom networks.
• Why:
  • The meeting aims to explore and promote the use of AI-native technologies in telecom, making networks more intelligent, efficient, and responsive to public needs.
• Tell me more:
  • The event was organized by the Telecommunication Engineering Centre (TEC), Department of Telecommunications, and included participation from senior DoT officers, academicians, technologists, and global industry representatives.
  • India highlighted initiatives like ‘Bharat Gen’, IIT and CDOT projects on AI-based network automation, and stressed ethical, inclusive, and secure AI deployment.
  • Global leaders discussed AI-native networks for automation, self-management, and real-time optimization, and the need for collaboration to bridge the digital divide.
  • India sought support for hosting the ITU Plenipotentiary Conference 2030, Council membership, and the candidacy of Ms. M. Revathi for ITU Radiocommunication Bureau Director.
  • The FG-AINN Build-a-Thon 2025, scheduled for June 13, will feature collaborative coding and live demonstrations of AI-native solutions.

Source: pib

State News

1. Goan Feni Receives Geographical Indication (GI) Tag

• What:
  • Goan Feni, also known as Ozzo Feni, has been granted the Geographical Indication (GI) tag recognizing its unique origin and qualities.
• Why:
  • To certify Goan Feni as a traditional spirit linked to its specific region, highlighting its distinct production and cultural heritage.
• Tell me more:
  • Goan Feni is produced by Cazcar Distillery in Nanora village near Panaji, Goa.
  • It is made by fermenting and double distilling cashew apples or coconut sap, resulting in a strong, clear liquor with 40-43% alcohol by volume.
  • The production process includes natural fermentation for 72 hours and double distillation, historically done in earthen pots and now using copper pots with the coil method.
  • The cashew plant was introduced to Goa by Portuguese missionaries in the 1600s, who also brought the distillation method.
  • The traditional makers of Feni were called bhatikars, using earthen pots called bhatis under fire.

Source: toi

2. Andhra Pradesh Signs MoU with NVIDIA for AI University

• What:
  • Andhra Pradesh government signed an MoU with NVIDIA to establish an Artificial Intelligence (AI) University in Amaravati.
• Why:
  • The aim is to develop infrastructure, accelerate startups, enhance skills, and promote AI research in the state.
• Tell me more:
  • NVIDIA will provide skill training to 10,000 students in Andhra Pradesh over the next two years.
  • NVIDIA will help set up AI research centres to address technological challenges and develop solutions across sectors.
  • Up to 500 AI startups from Andhra Pradesh may be facilitated for NVIDIA’s inception program during the MoU period, subject to eligibility.

Source: toi

3. Andhra Pradesh Signs MoU for State Energy Transition Roadmap

• What:
  • Andhra Pradesh Government, NITI Aayog, and ISEG Foundation signed an MoU for the State Energy Transition Roadmap.
• Why:
  • The MoU aims to increase the share of renewable energy in Andhra Pradesh’s power capacity and support clean energy policies.
• Tell me more:
  • Andhra Pradesh’s current installed power generation capacity is 27.3 GW, with electricity demand rising from 55.6 BU in 2019 to 69.7 BU in 2025.
  • The state’s power demand is projected to reach 163.9 BU by 2035.
  • Under the AP Integrated Clean Energy Policy, targets for 2029 include 78.50 GW solar, 35 GW wind, 22 GW pumped storage, 1.50 MMTPA green hydrogen, 25 GW battery storage, 1,500 KLPD ethanol, 5,000 EV charging stations, and 10,000 TPD bio-CNG/CBG.
  • Andhra Pradesh has attracted ₹5.78 lakh crore investments in clean energy, enabling 57.7 GW of power generation.

Source: th

4. India’s First Underwater Museum to Be Set Up in Maharashtra

• What:
  • India’s first underwater museum and artificial coral reef will be created around the decommissioned warship INS Guldar near Nivati Rocks, Vengurla, Sindhudurg district, Maharashtra.
• Tell me more:
  • The Union Tourism Ministry has approved Rs 46.91 crore for the project.
  • The 1,120-ton INS Guldar was decommissioned in January 2024 and handed over to Maharashtra Tourism Development Corporation for conversion into a submerged museum.
  • The museum is located near Nivati Rocks in Sindhudurg district, Maharashtra.

Source: noa

5. Railway Doubling Projects Approved by Union Cabinet

• What:
  • The Union Cabinet approved two Ministry of Railways projects worth ₹6,405 crore, including the doubling of Koderma–Barkakana and Ballari–Chikjajur rail lines.
• Why:
  • The projects aim to enhance rail connectivity, improve operational efficiency, and increase service reliability for Indian Railways.
• Tell me more:
  • Koderma–Barkakana doubling (133 km) will connect 938 villages and 15 lakh people across four districts in Jharkhand and pass through a major coal-producing area.
  • Ballari–Chikjajur doubling (185 km) will link Mangalore port to Secunderabad, passing through districts in Karnataka and Andhra Pradesh, and support transport of iron ore, coal, steel, and fertilizers.
  • Both projects will expand the railway network by about 318 km and improve connectivity to over 1,400 villages with a combined population of over 28 lakh.
  • The projects are expected to generate about 108 lakh human-days of direct employment during construction.
  • The Ballari–Chikjajur project is planned to be completed in three years.

Source: NOA

Banking and Economy

1. DFCC Bank Lists Sri Lanka’s First Green Bonds at NSE IX

• What:
  • DFCC Bank PLC from Sri Lanka has become the first foreign corporate to list green bonds on the NSE International Exchange (NSE IX) at GIFT IFSC.
• Why:
  • The listing aims to support renewable energy projects and strengthen sustainable finance in the region.
• Tell me more:
  • The green bonds are valued at LKR 2.5 billion and are Sri Lanka’s first capital market debt instruments dedicated to renewable energy, mainly solar energy projects.
  • These bonds are already listed on the Colombo Stock Exchange.
  • The initiative aligns with Sri Lanka’s target to generate 70% of its electricity from renewable sources by 2030.
  • The listing reflects the IFSCA’s goal to make GIFT IFSC a hub for sustainable and green finance, especially for the Global South.
  • Leaders from IFSCA, NSE IX, and DFCC Bank highlighted the importance of regional financial partnerships and economic cooperation.

Source: et

2. TCS Signs Seven-Year Digital Deal with Virgin Atlantic

• What:
  • Tata Consultancy Services (TCS) has signed a new seven-year agreement with British airline Virgin Atlantic to support the airline’s digital transformation using artificial intelligence (AI) and cloud technologies.
• Why:
  • The partnership aims to modernise Virgin Atlantic’s core technology systems and improve passenger and crew experience through innovation.
• Tell me more:
  • The agreement continues a partnership of over 20 years between TCS and Virgin Atlantic.
  • TCS will help create a new Technology Command Centre to provide real-time operational data for faster decision-making.
  • TCS will use its platforms, such as TCS Cognix and AI WisdomNext, to support customer experience and sustainability goals.
  • TCS will provide onsite teams to help with the rollout of these digital upgrades.

Source: bs

3. Bajaj Finserv and ZF Commercial Vehicle Stake Sales

• What:
  • Major investors bought a 1.8% stake in Bajaj Finserv and a 3.16% stake in ZF Commercial Vehicle Control Systems India through block deals on the NSE.
• Why:
  • The stake sales were conducted by promoter entities to raise funds and allow institutional investors to increase their holdings.
• Tell me more:
  • SBI MF, Morgan Stanley, Goldman Sachs, and others purchased 2.86 crore shares (1.8%) of Bajaj Finserv for Rs 5,506 crore at Rs 1,925.20 per share.

Source: ET

4. Cipla Health Launches ‘Cipladine – Fast Aid Expert’ Campaign

• What:
  • Cipla Health launched the “Cipladine – Aapka Fast Aid Expert” campaign with actress Neena Gupta as the brand ambassador.
• Why:
  • The campaign aims to reinforce Cipladine’s position as India’s trusted solution for quick and effective healing of cuts, wounds, burns, and infections.
• Tell me more:
  • Cipladine uses a Povidone Iodine (PVPI) formula that acts within 30 seconds, stays longer, and penetrates deeper for fast relief.
  • The campaign features Neena Gupta and Shashie Verma in films highlighting the product’s rapid action.
  • The campaign is live across TV, digital, print, outdoor, and trade channels for maximum reach. The creative idea was developed by Lowe Lintas, focusing on speed and efficiency in first aid.

Source: et

5. Edible Oil Import Duty Reduced to Ease Prices

• What:
  • The Centre has reduced the Basic Customs Duty on crude sunflower, soybean, and palm oils from 20% to 10%, increasing the import duty difference between crude and refined edible oils from 8.75% to 19.25%.
• Why:
  • This reduction aims to lower edible oil prices, ease inflation, encourage domestic refining, and ensure fair returns for farmers.
• Tell me more:
  • The advisory meeting was chaired by the Secretary of the Department of Food and Public Distribution, Government of India.

Source: pib

6. IREDA Raises ₹2,005.90 Crore via QIP for Renewable Projects

• What:
  • Indian Renewable Energy Development Agency Ltd (IREDA) raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP) of equity shares.
• Why:
  • The funds will strengthen IREDA’s Tier-I capital base and improve its Capital Adequacy Ratio to support more renewable energy project financing.
• Tell me more:
  • IREDA issued 12.15 crore equity shares at ₹165.14 per share, including a premium of ₹155.14 over the ₹10 face value.
  • The QIP was open from June 5 to June 10 and was oversubscribed, receiving bids worth ₹2,005.90 crore against a base size of ₹1,500 crore.

Source: et

7. Foreign Banks Rush to Set Up Units in Gift City

• What:
  • Several foreign banks, including Credit Agricole Corporate and Investment Bank, Natixis, Societe Generale from France, and two UAE banks, have applied to set up IFSC Banking Units (IBUs) in Gift City, Gujarat.
• Tell me more:
  • In-principle approvals have been given to Natixis and Credit Agricole Corporate and Investment Bank, with 5-6 more banks expected to open IBUs soon.
  • Qatar National Bank was the first from West Asia and Africa to set up in Gift City, and domestic banks like Bank of Maharashtra have also applied.
  • As of March 2025, there are 31 IBUs in Gift City, up from 15 in March 2022, with 14 being foreign banks.
  • IBUs operate like overseas branches and offer USD-denominated deposits, term loans, and external commercial borrowings.
  • The total assets of IBUs in Gift City reached around $88,500 million by March 2025.

Source: hbl

8. Sovereign Green Bonds Worth ₹5,000 Crore to Be Re-Issued

• What:
  • The Reserve Bank of India announced the re-issue of sovereign green bonds worth ₹5,000 crore as part of a government securities auction on June 13, 2025.
• Why:
  • The re-issue aims to fund environmentally sustainable projects and support India’s commitment to green infrastructure and sustainability.
• Tell me more:
  • The total notified amount for sale is ₹30,000 crore, which includes ₹5,000 crore of 6.98% sovereign green bonds maturing in 2054, ₹11,000 crore of 6.79% government securities maturing in 2031, and ₹14,000 crore of 7.09% securities maturing in 2074.
  • The auction will use a multiple price method on RBI’s e-Kuber platform, with non-competitive bids from 10:30 a.m. to 11:00 a.m. and competitive bids from 10:30 a.m. to 11:30 a.m. on auction day.
  • The government may accept up to ₹2,000 crore of extra subscriptions for each security.
  • Sovereign green bonds finance projects in renewable energy, clean transport, water management, and energy efficiency.

Source: toi

Defence News

1. Indian Army Joins ‘Khaan Quest’ Multinational Exercise in Mongolia

• What:
  • An Indian Army contingent of 40 personnel, mainly from the Kumaon Regiment, reached Mongolia to participate in the ‘Khaan Quest’ multinational military exercise from June 14-28, 2025.
• Tell me more:
  • ‘Khaan Quest’ began as a US-Mongolia bilateral event in 2003 and became a multinational exercise in 2006; 2025 is its 22nd edition.
• Knowledge Nuggets:
  • The Indian Air Force and US Air Force recently concluded ‘Exercise Tiger Claw 2025’, the first independent Special Forces exercise between the two, held in North India from May 26 to June 10, 2025.
  • ‘Exercise Tiger Claw’ focused on partnership, special operations best practices, and joint training for interoperability.
  • The Indian Army’s participation in global exercises supports military readiness under Chapter VII of the United Nations Charter.

Source: tp

2. Indian Coast Guard Battles Fire on MV Wan Hai 503

• What:
  • Indian Coast Guard winched five salvage team members and an aircrew diver onto the burning Singaporean container vessel MV Wan Hai 503 off the Kerala coast to help with towing operations.
• Tell me more:
  • MV Wan Hai 503 is carrying 2,128 metric tons of fuel and hundreds of containers, including hazardous cargo.
  • Five Indian Coast Guard ships, two Dornier aircraft, a helicopter, and two Directorate General of Shipping vessels are involved in firefighting.

Source: pib

Science and Technology

1. TakeMe2Space Launches Affordable AI Satellite Platform

• What:
  • Hyderabad-based startup TakeMe2Space is building the world’s first open Low Earth Orbit (LEO) satellite infrastructure with an AI laboratory in orbit.
• Why:
  • The aim is to make space technology accessible, affordable, and environmentally sustainable by offering Made-in-India satellite solutions and on-orbit computing.
• Tell me more:
  • TakeMe2Space raised Rs. 5.5 crore in a pre-seed funding round led by Seafund in June 2025.
  • The startup’s OrbitLab platform allows users to access satellite data, run AI models directly on satellites, and pay only for satellite time.
  • The first two satellites, launching in 2025, will carry advanced imagers and Nvidia-based AI accelerators.
  • The MOI-TD mission, launched in December 2024, demonstrated in-space data processing and validated key subsystems.
  • OrbitLab supports applications in sectors like defence, agriculture, and marine, enabling real-time model validation.

Source: ie

Agriculture and Rural Development

1. New Mango Variety Named ‘Rajnath Aam’ by Mango Man

• What:
  • Kalimullah Khan, known as the ‘Mango Man’ of India, has named a new mango variety ‘Rajnath Aam’ after Defence Minister Rajnath Singh.
• Why:
  • The variety was named to honour Rajnath Singh’s leadership, especially after India’s response to the Pahalgam terror attacks.
• Tell me more:
  • Kalimullah Khan is a Padma Shri awardee for his work in horticulture and fruit breeding.
  • The ‘Rajnath Aam’ was developed using Khan’s signature grafting technique in his Malihabad orchard.
  • Khan has previously named mango varieties after other notable personalities like Narendra Modi, Amit Shah, Sachin Tendulkar, Aishwarya Rai, Akhilesh Yadav, and Sonia Gandhi.
  • Khan’s orchard is located in Malihabad, in Uttar Pradesh.

Source: tw

Important Days

1. World Day Against Child Labour 2025 – June 12

• Theme: Progress is clear, but there’s more to do: let’s speed up efforts

Source: ie

Memorandum of Understanding

1. BEL and Tata Electronics Sign MoU for Semiconductor Solutions

• What:
  • Bharat Electronics Ltd (BEL) and Tata Electronics signed a Memorandum of Understanding (MoU) to jointly develop indigenous electronics and semiconductor solutions.
• Tell me more:
  • BEL and Tata Electronics will collaborate on semiconductor fabrication (Fab), Outsourced Semiconductor Assembly and Test (OSAT), and design services.
  • The collaboration will focus on advanced components like Microcontrollers (MCUs), Systems-on-Chip (SoCs), Monolithic Microwave Integrated Circuits (MMICs), and other processors.

Source: et

Appointments

1. Sudarshan Venu Appointed Chairman of TVS Motor Company

• TVS Motor Company’s Board of Directors named Sudarshan Venu as the incoming Chairman and Managing Director, effective August 25, 2025.

Source: et

2. Katrina Kaif Appointed Maldives’ Global Tourism Ambassador

• Bollywood actress Katrina Kaif has been named the Maldives’ new global brand ambassador for tourism.
• The campaign targets major markets such as India, the UK, Russia, Italy, Spain, Poland, Germany, Austria, and Switzerland.
• The Maldives’ “Sunny Side of Life” campaign is designed to showcase the country’s natural beauty and luxury offerings.

Source: BS

3. SBI General Insurance Appoints Mohd. Arif Khan as Deputy CEO

• SBI General Insurance has appointed Mohd. Arif Khan as the Deputy Chief Executive Officer (Deputy CEO).
• Naveen Chandra Jha is the Managing Director and CEO of SBI General Insurance.

Source: et

4. FSIB Recommends R Doraiswamy as LIC CEO and MD

• The Financial Services Institutions Bureau has recommended R Doraiswamy for the position of Chief Executive Officer (CEO) and Managing Director (MD) of Life Insurance Corporation of India (LIC).
• He will replace Sat Pal Bhanoo, the current interim CEO and MD, who was appointed on June 8, 2025, and will serve until September 7, 2025.
• The Financial Services Institutions Bureau is responsible for recommending appointments to top positions in financial institutions.

Source: et

Miscellaneous

1. Thennala Balakrishna Pillai, Senior Congress Leader, Passes Away

• Senior Congress leader and former KPCC president Thennala Balakrishna Pillai passed away at the age of 95 in Thiruvananthapuram.

Source: noa

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