Daily Current Affairs

India hosted the 81st Annual General Meeting (AGM) of the International Air Transport Association (IATA) along with the World Air Transport Summit (WATS) from 1–3 June 2025 at Bharat Mandapam, New Delhi.

The event was hosted by IndiGo and inaugurated by Prime Minister Narendra Modi.

Key announcements:

• PM Modi unveiled “Aviation Vision 2047” — India’s goal to expand airport network to 350 airports by 2047
• Luis Gallego (CEO, International Airlines Group) announced as new Chair of IATA Board of Governors

The Ministry of Electronics and Information Technology (MeitY) released a report titled “India’s AI Revolution: A Roadmap to Viksit Bharat”, estimating India’s requirement of one million AI professionals by 2026.

To support this demand, the government highlighted:

• Expanded technical education capacity
• Increased AICTE-approved seats
• Launch of IndiaAI Dataset Platform for secure access to non-personal datasets

The Ministry of Heavy Industries notified guidelines for the Scheme to Promote Manufacturing of Electric Passenger Cars in India (SPMEPCI).

Key features:

• Encourages global EV manufacturers to invest in India
• Allows limited imports of electric cars at concessional customs duty
• Requires minimum investment of ₹4,150 crore within three years

The initiative aligns with India’s net-zero target for 2070.

Union Minister Dr. Mansukh Mandaviya inaugurated Urban Adda 2025, a three-day conclave focusing on:

• Sustainable urban mobility
• Climate-resilient cities
• Clean air
• Inclusive transport

The event also featured Youth Adda, a Cyclothon, and the Urban Adda Film Festival, promoting citizen participation in urban transformation.

ICRISAT and RIS jointly launched the ICRISAT Centre of Excellence for South-South Cooperation in Agriculture (ISSCA) in New Delhi.

Based in Hyderabad, the centre aims to:

• Promote knowledge sharing
• Develop low-cost agricultural innovations
• Provide scalable solutions for countries in the Global South

Germany overtook Japan to become the world’s largest creditor nation in 2024, ending Japan’s 34-year dominance.

The shift was attributed to:

• Strong export performance
• Favourable currency movements

The United States remained the world’s largest net debtor.

Nicaragua became the 101st WTO member to formally accept the Agreement on Fisheries Subsidies, bringing the pact closer to implementation.

The agreement aims to curb subsidies that promote illegal, unreported, and unregulated (IUU) fishing, marking a major step towards marine sustainability.

Bangladesh Bank released new currency notes of Tk 20, Tk 50, and Tk 1000, removing the portrait of Sheikh Mujibur Rahman for the first time since 1971.

The redesigned notes highlight temples, historical monuments, and cultural heritage, while existing notes remain legal tender.

According to RBI data, India’s bank deposit growth slowed to 10.6% in FY25, compared to 13% in FY24.

Key observations:

• Term deposits continued to dominate
• Households remained the largest contributors
• Female and senior-citizen depositors accounted for a significant share

Indian Bank introduced new NRE savings accounts and premium debit cards for Non-Resident Indians (NRIs).

The offerings include:

• Global lounge access
• Insurance benefits
• Enhanced digital services

The initiative aims to improve overseas customer engagement.

The OECD projected India’s GDP growth at 6.3% for FY26, citing global uncertainties and weaker trade.

Despite the downgrade, India is expected to remain the fastest-growing G20 economy, supported by consumption and public investment.

Japanese brokerage Nomura projected India’s FY26 growth at 6.2%, highlighting a divergence between headline indicators and underlying economic activity.

It maintained a positive outlook on domestic-focused sectors.

IndiGo signed an MoU with Delta Air Lines, Air France-KLM, and Virgin Atlantic to enhance connectivity between India, Europe, and North America.

The partnership will strengthen intercontinental travel and loyalty benefits.

Scientists discovered a new frog species named Amolops shillong in Shillong, Meghalaya.

Found in fast-flowing streams, the discovery highlights Northeast India’s rich biodiversity and growing scientific exploration.

IPL 2025: Royal Challengers Bangalore (RCB) won their first IPL title, defeating Punjab Kings in the final.

Wrestling: India finished second at the Ulaanbaatar Open 2025 with 21 medals.

Singapore Open 2025 Badminton:

• Women’s Singles: Chen Yufei (China)
• Men’s Singles: Kunlavut Vitidsarn (Thailand)