02nd July 2025

1. Small Savings Schemes Interest Rates Announcement for July–September Quarter FY26
2. Commercial Vehicle Industry Expected to Grow 3–5% in FY26: ICRA
3. Reliance Infra and Coastal Mechanics Launch Defence MRO Hub in Maharashtra
4. SBI to Solarize 4 Million Indian Homes by 2027
5. India’s GST Collections Hit Record ₹22.08 Lakh Crore in FY25
6. India Hosts First ASEAN–India Cruise Dialogue to Strengthen Maritime Ties
7. Rear Admiral V Ganapathy Takes Command of MILIT Pune
8. Ladakh Hosts Its First Astro Tourism Festival to Boost Scientific Tourism
9. Tegbhir Singh Becomes World’s Youngest to Climb Summit of Mount Elbrus
10. Govt Begins Nation Wide Testing of Real-Time Disaster Alert System via Mobile Phones
11. Global Unicorn Index 2025 : USA Topped; India Ranked 3rd with 67 Unicorns
12. 2025 Bonn Climate Change Conference held from June 16 to 26, 2025 in Germany
13. Suriname Becomes First Amazon Nation to Earn WHO Malaria-Free Certification
14. Slice Launches UPI Credit Card, Opens India’s First UPI-Powered Bank Branch
15. Jumbotail becomes 5th Unicorn in 2025 with USD 120 Million Funding Round
16. DRDO Unveils India’s First Indigenous Photonic Radar for Advanced Stealth Detection
17. Researchers Build World’s First Silicon Free Computer Using 2D Materials
18. US Open 2025: Ayush Shetty wins Men’s Single title; Tanvi Sharma Finishes as Runner-up
19. Uttarakhand CM Pushkar Singh Dhami Releases Lalit Shaurya’s Book ‘Swasthya Ke Prahari’
20. Goods and Services Tax Day 2025 – July 1
21. ‘Raj Bhavan Annadhan Scheme’ Launched in Goa
22. RBI appoints Shri Kesavan Ramachandran as new Executive Director

National News

1. India Hosts First ASEAN–India Cruise Dialogue in Chennai

• What:
  • The Union Minister of Ports, Shipping & Waterways inaugurated the first ASEAN–India Cruise Dialogue in Chennai with participation from all ASEAN member countries and Timor Leste.
• Why:
  • The event aims to boost maritime cooperation, cruise connectivity, and sustainable tourism in the Indo-Pacific region.
• Tell me more:
  • Over 30 ASEAN delegates, Indian stakeholders, and senior officials from the Ministry attended the event.
  • Plans were announced to professionalize 5,000 km of waterways for better ASEAN connectivity.
  • Cruise ship calls in India increased from 102 in 2013–14 to over 14,000, supported by reforms and improved infrastructure.

Source: PIB

State News

1. Ladakh Hosts First Astro Tourism Festival

• What:
  • The first-ever Ladakh Astro Tourism Festival was organised in Leh by the Tourism Department and Indian Institute of Astrophysics, Bangalore.
• Why:
  • The festival aims to promote Ladakh as a top destination for astro tourism due to its clear skies and ideal conditions for star gazing.
• Tell me more:
  • The two-day festival included expert talks by astrophysicists from ISRO, Indian Institute of Astrophysics, and Kashmir University.
  • Learning experiences and night sky observations were provided at Leh and Hanle Dark Sky Reserve.

Source: NOA

2. Raj Bhavan Annadhan Scheme Launched in Goa

• What:
  • The ‘Raj Bhavan Annadhan’ scheme was launched by Kerala Governor Rajendra Arlekar in the presence of Chief Minister Pramod Sawant, with Goa Governor PS Sreedharan Pillai presiding over the ceremony.
• Why:
  • The scheme aims to help people in need by donating the royalty earned from Governor Pillai’s books and providing financial support.
• Tell me more:
  • The launch event was held at the Old Durbar Hall, Raj Bhavan.
  • Financial help from the Governor’s Discretionary Funds was given to about 40 patients undergoing cancer treatment and dialysis.
  • Chief Minister Sawant praised the Governor’s efforts to reach remote areas and understand common people’s lives.
  • The scheme is unique to Goa.

Source: TG GOV

International News

1. 2025 Bonn Climate Change Conference in Germany

• What:
  • The June 2025 UNFCCC climate meetings in Bonn began with a delay in adopting the official agenda due to disagreements between developed and developing countries.
• Why:
  • The delay happened because developing countries wanted to discuss climate finance and unilateral trade measures, but developed countries resisted these additions.
• Tell me more:
  • Like-Minded Developing Countries (LMDC), including India, proposed new agenda items on Article 9.1 of the Paris Agreement (climate finance) and on unilateral trade measures.
  • The climate finance proposal followed the COP29 decision in Baku, where a new goal of $300 billion per year for developing countries was set, with a larger target of $1.3 trillion by 2035.
  • The agenda item on Article 9.1 was withdrawn but will be discussed through consultations and may return as a separate item at COP30 in Brazil.
  • The item on trade measures was also withdrawn, with related issues to be discussed under the Just Transition Work Programme.

Source: DTE

2. Suriname Becomes First Amazon Country Malaria-Free

• What:
  • Suriname has received malaria-free certification from the World Health Organization (WHO), becoming the first country in the Amazon region to achieve this status.
• Why:
  • The certification recognizes Suriname’s long-term efforts to eliminate malaria and ensure universal access to diagnosis and treatment for all communities.
• Tell me more:
  • Suriname’s malaria control began in the 1950s, starting with indoor spraying and later focusing on remote forest areas.
  • Malaria cases peaked in 2001, but strong efforts like rapid testing, new treatments, and community health workers helped reduce cases.
  • The last local case of Plasmodium falciparum was in 2018 and Plasmodium vivax in 2021.
  • Suriname used community workers in mining areas and provided free malaria services to everyone, including migrants.

Source: WHO

3. World’s First Computer Built Without Silicon Demonstrated

• What:
  • Researchers at Penn State University have built the world’s first CMOS computer using two-dimensional (2D) materials instead of silicon.
• Why:
  • The aim is to find alternatives to silicon for making smaller, faster, and more flexible electronic devices as silicon technology nears its limits.
• Tell me more:
  • The computer was made with 2D materials like molybdenum disulphide (MoS2) and tungsten diselenide (WSe2), which are extremely thin at the nano-level.
  • The new computer can perform basic functions using a single instruction set and operates below three volts and up to 25 kiloHertz frequency.
  • 2D materials help reduce power loss and allow for better scaling of electronic devices compared to bulky silicon.
  • The device is a milestone for future electronics but currently operates much slower than silicon-based computers.

Source: ET

Banking and Economy

1. Interest Rates on Small Savings Schemes Unchanged for July-September 2025

• What:
  • Interest rates for popular small savings schemes like PPF, SCSS, and Sukanya Samriddhi Yojana will remain the same for the July-September quarter of FY 2025-26.
• Why:
  • The government decided to keep interest rates unchanged to provide stability for savers despite changes in market rates.
• Tell me more:
  • Small savings schemes are mainly managed through post offices and banks.
  • Interest is compounded monthly, quarterly, or annually, depending on the scheme.
  • The government reviews these rates every quarter, using a formula linked to government securities yields.
  • The Shyamala Gopinath Committee recommended the current system for setting these rates.

Source: BT

2. SBI to Solarise 4 Lakh Homes by FY27

• What:
  • SBI announced a plan to solarise 4 lakh homes by FY2027 to support India’s renewable energy transition.
• Why:
  • The initiative aims to help advance India’s Net Zero 2070 goals and play a leading role in the country’s renewable energy efforts.
• Tell me more:
  • SBI made this announcement as it completed 70 years, since its formation on July 1, 1955.
  • SBI’s agricultural lending exceeded Rs 3.5 lakh crore in FY25, the highest in the country, supporting farm infrastructure and rural development.
  • The bank spent Rs 610.8 crore on corporate social responsibility initiatives, reaching 94 aspirational districts.
  • SBI is setting up a centre of excellence on project finance for new age businesses like renewable energy, e-mobility, and green hydrogen.

Source: TW IT

3. GST Collections Double to Record ₹22.08 Lakh Crore in FY25

• What:
  • India’s gross Goods and Services Tax (GST) collections reached a record ₹22.08 lakh crore in FY2024–25, doubling from ₹11.37 lakh crore in FY21.
• Why:
  • The increase in GST collections shows strong revenue growth, expansion of the tax base, and improved efficiency and transparency in indirect taxation.
• Tell me more:
  • GST collections in FY25 grew by 9.4% compared to ₹20.18 lakh crore in FY24.
  • The average monthly GST collection in FY25 was ₹1.84 lakh crore, up from ₹1.68 lakh crore in FY24.
  • GST was launched in July 2017, replacing about 17 state and central taxes and 13 cesses with a unified five-tier system.
  • The number of registered GST taxpayers rose from 65 lakh in 2017 to over 1.51 crore in 2025.
  • April 2025 saw the highest-ever monthly collection at ₹2.37 lakh crore, followed by ₹2.01 lakh crore in May.

Source: ET

4. slice Launches India’s First UPI Credit Card and Branch

• What:
  • slice has launched the slice UPI credit card and opened India’s first UPI-powered physical bank branch and ATM.
• Tell me more:
  • The slice UPI credit card has no joining or annual fee, gives up to 3% cashback, and allows instant conversion of spends into three interest-free instalments.
  • Users can make UPI payments or scan QR codes to use their credit line easily.
  • The new branch in Bengaluru offers complete UPI integration, instant onboarding, self-service kiosks, and a UPI ATM for cash deposits and withdrawals.
  • slice merged with North East Small Finance Bank and now operates as a full-stack bank with its own banking infrastructure.

Source: BS

5. Jumbotail Becomes Fifth Unicorn of the Year

• What:
  • Jumbotail, a B2B startup, raised $120 million from investors led by SC Ventures, reaching a valuation of $1 billion.
• Why:
  • The funding and acquisition aimed to boost Jumbotail’s growth and value in the B2B commerce sector.
• Tell me more:
  • The investment round was also backed by existing investor Artal Asia.
  • Jumbotail’s $1 billion valuation includes the combined value after acquiring Solv India, a B2B platform incubated by SC Ventures.
  • Jumbotail is the fifth startup to become a unicorn this year.
  • SC Ventures is the investment arm of Standard Chartered.

Source: TOI

6. GST Completes Eight Years Since Rollout

• What:
  • Goods and Services Tax (GST) completed eight years on 1 July 2025, marking a unified tax system that replaced multiple indirect taxes and improved compliance and business efficiency.
• Why:
  • GST was introduced to simplify the tax structure, reduce business costs, and help goods move freely across states for a stronger and more integrated economy.
• Tell me more:
  • GST collections reached a record ₹22.08 lakh crore in 2024–25, growing 9.4% year-on-year.
  • The GST Council decides tax rates, with four main slabs (5%, 12%, 18%, 28%) and three special rates for precious items.
  • GST has a dual structure: CGST and SGST for intra-state, IGST for inter-state transactions.
  • GST supports input tax credit, exemptions for small businesses, and simplified online compliance.
  • The number of registered taxpayers increased from 60 lakh to 1.51 crore.

Source: PIB

Reports and Indices

1. India Ranks Third in Hurun Global Unicorn Index 2025

• What:
  • India has ranked third globally in the Hurun Global Unicorn Index 2025 with 64 unicorns.
• Why:
  • The ranking highlights India’s growing momentum and significance in the global startup ecosystem.
• Tell me more:
  • There are 1,523 unicorns worldwide in 2025, valued at $5.6 trillion.
  • Unicorns are present in 52 countries and 307 cities.
  • The United States leads with 758 unicorns, followed by China with 343.
  • Bengaluru is the top Indian city at rank 7 globally for unicorns, followed by Mumbai at 22 and Gurugram at 27.
  • FinTech and gaming are key sectors for unicorn growth in India, with Zerodha, Dream11, and Razorpay being the most notable.

Source: IE

GDP Forecast

1. Commercial Vehicle Industry Expected to Grow 3–5% in FY2026

• What:
  • The Indian commercial vehicle industry is expected to see 3–5% year-on-year growth in wholesale volumes in FY2026, after a small decline in FY2025.
• Why:
  • Growth is driven by the revival of construction and infrastructure activities and a stable macroeconomic environment.
• Tell me more:
  • Wholesale volumes for the first two months of FY2026 (April–May) contracted by 0.7% year-on-year.
  • LCV retail sales in May 2025 dropped by 3.2% year-on-year and 4.9% month-on-month due to more buyers choosing pre-owned vehicles.
  • M&HCV retail volumes fell by 4.4% year-on-year and nearly 19% month-on-month in May 2025, affected by regional disruptions and geopolitical challenges.
  • ICRA expects industry growth to improve gradually as infrastructure and mining activities resume and the economic outlook remains stable.

Source: BS

Defence News

1. Reliance Defence Partners with US Firm for Defence MRO

• What:
  • Reliance Defence has formed a strategic partnership with American defence contractor Coastal Mechanics Inc. to provide maintenance, repair, overhaul, and upgrade services for Indian military platforms.
• Why:
  • The partnership aims to tap into India’s Rs 20,000 crore market for MRO and upgrades, and to support the shift from asset replacement to lifecycle extension of defence equipment.
• Tell me more:
  • The agreement will cover services for Jaguar and MiG-29 fighter aircraft, Apache helicopters, L-70 air defence guns, and other legacy systems.
  • A joint venture will be set up at MIHAN, Nagpur, to serve both Indian and export markets.
  • Reliance Defence aims to become one of India’s top three defence exporters.

Source: TP

2. DRDO Unveils India’s First Photonic Radar

• What:
  • DRDO has developed India’s first photonic radar and is investing in new technologies like laser weapons and AI for future defence needs.
• Why:
  • The goal is to modernize defence systems, address capability gaps, and boost self-reliance in advanced military technology.
• Tell me more:
  • The photonic radar uses lasers and optical fibres, making it faster, more accurate, and harder to jam than traditional radars.
  • It can detect stealth aircraft, drones, and missiles, and provides long-range, high-resolution 3D imaging.
  • The radar is compact, portable, and energy-efficient, suitable for mobile platforms and border defence.
  • Field trials will be held in late 2025 in various scenarios, and the radar may be used on aircraft like Su-30 MKI, Rafale, and Tejas.

Source: wion

Science and Technology

1. Nationwide Testing of Cell Broadcast Disaster Alerts Begins

• What:
  • The Department of Telecommunications (DoT) and National Disaster Management Authority (NDMA) have started testing the Cell Broadcast (CB) system for sending disaster alerts to citizens’ mobile phones across India.
• Why:
  • The purpose is to ensure quick and wide dissemination of emergency alerts in time-critical situations like natural disasters and man-made hazards.
• Tell me more:
  • The CB system is being tested in all 36 States and Union Territories, and test messages in English and Hindi will be sent to mobile phones with CB test channels enabled.
  • These test messages are for system validation only, may be received multiple times, and require no action from the recipients.
  • The CB system will complement the existing SMS-based Integrated Alert System (SACHET), which has already sent over 6,899 crore alerts in more than 19 Indian languages during emergencies.
  • The Centre for Development of Telematics (C-DOT) is responsible for developing and implementing the CB-based alert system, and testing will last for 2-4 weeks nationwide.

Source: PIB

Awards

1. Teghbir Singh Becomes Youngest to Scale Mount Elbrus

• What:
  • Teghbir Singh, aged six years and nine months from Ropar, became the world’s youngest person to climb Mount Elbrus, the highest peak in Europe.
• Tell me more:
  • Teghbir had earlier become the youngest Asian to scale Mt Kilimanjaro and had reached Mt Everest Base Camp in 2024.
  • Teghbir was trained by Bikramjit Singh Ghuman, focusing on cardiovascular health and lung capacity for high altitudes.

Source: IE

Sports

1. Ayush Shetty Wins US Open BWF Super 300 Title

• What:
  • Ayush Shetty won his first BWF World Tour title by defeating Brian Yang in the final of the US Open 2025, a BWF Super 300 badminton tournament.
• Tell me more:
  • In women’s singles, 16-year-old Tanvi Sharma became the youngest Indian to reach a BWF World Tour final and finished as runner-up after a tough match against Beiwen Zhang.
  • Tanvi Sharma has two international titles at the BWF International Challenge level and recently won in Denmark.

Source: DD

Appointments

1. Rear Admiral V Ganapathy Takes Charge as MILIT Commandant

• What:
  • Rear Admiral V Ganapathy of the Indian Navy has assumed command of the Military Institute of Technology (MILIT), Pune.
• Tell me more:
  • MILIT is a premier tri-services technical training institution under the Headquarters Integrated Defence Staff.
  • He is an alumnus of the College of Defence Management, National Defence College, and Defence Services Staff College.
  • MILIT prepares mid-career officers from the Army, Navy, Air Force, and friendly nations in advanced military technologies.

Source: TW

Miscellaneous

1. Book ‘Swasthya Ke Prahari’ Released by Uttarakhand CM

• Uttarakhand Chief Minister Pushkar Singh Dhami released the new book ‘Swasthya Ke Prahari’ by children’s literature writer Lalit Shaurya to raise health awareness among the public.

Source: KT

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