Daily Current Affairs

The Reserve Bank of India (RBI) approved a record surplus transfer of Rs 2,86,588.46 crore to the Government of India (GoI) for Financial Year 2025–26 (FY26) — higher than last year’s transfer of Rs 2.69 lakh crore. The decision was taken at the 623rd meeting of the Central Board of Directors (CBoDs) of RBI, chaired by Governor Dr. Sanjay Malhotra in Mumbai, Maharashtra.

• Record Dividend: Rs 2,86,588.46 crore — highest-ever RBI surplus transfer to GoI; previous year was Rs 2.69 lakh crore.
• Contingency Risk Buffer (CRB): Rs 1,09,379.64 crore transferred to CRB for FY26, up significantly from Rs 44,861.70 crore previously; maintained at 6.5% of RBI’s balance sheet.
• Economic Capital Framework (ECB): Under revised ECB norms, RBI must maintain CRB within 4.5%–7.5% of the balance sheet.
• Balance Sheet Growth: Expanded by 20.61% to Rs 91.97 lakh crore as on 31 March 2026.

Skydo, a leading cross-border payments platform, secured in-principle approval to operate as a Payment Service Provider (PSP) at the International Financial Service Centre (IFSC) in GIFT City (Gujarat International Finance Tec-City), Gandhinagar, Gujarat. This enables Skydo to develop multi-currency collections, e-money accounts, and merchant acquisition services for cross-border trade.

• RBI Approval: Skydo also received RBI nod to support outward remittance flows under the Payment Aggregator–Cross Border (PA-CB) framework.
• PA-CB Framework: Regulates and streamlines cross-border payment activities by fintech companies in India’s international payments ecosystem.
• GIFT City: India’s first operational International Financial Services Centre (IFSC), located in Gandhinagar, Gujarat; regulated by IFSCA (International Financial Services Centres Authority).
• Services Enabled: Multi-currency collections, e-money accounts, merchant acquisition for cross-border trade.

Conversational fintech platform Jumpp, operated by Finvasia Group, received Corporate Agency and Insurance Self Network Platform (ISNP) licences from the Insurance Regulatory and Development Authority of India (IRDAI) to distribute insurance products digitally through its AI-powered platform.

• Insurance Offerings: Health, life, motor, business, and home insurance via insurer partnerships.
• Technology: AI-based personalised insurance recommendations; Account Aggregator framework integration.
• Partnerships: YES Bank (banking); BBPS (bill payments) via NPCI for UPI services.
• Licences Granted: Corporate Agency licence + ISNP (Insurance Self Network Platform) licence from IRDAI.

The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, extended the deputation tenure of Anurag Garg, Director General (DG) of the Narcotics Control Bureau (NCB), till 31 July 2027.

• Anurag Garg: 1993-batch IPS officer, Himachal Pradesh cadre; appointed DG-NCB in September 2024, succeeding Satya Narayan (S.N.) Pradhan.
• NCB: Established 1986; India’s apex anti-drug law enforcement agency; under Ministry of Home Affairs (MHA); functions under NDPS Act, 1985.
• ACC: Appointments Committee of the Cabinet — chaired by the Prime Minister; approves senior-level appointments in the Central Government.

Major Abhilasha Barak of the Indian Army (IA) was announced as the recipient of the 2025 UN Military Gender Advocate of the Year Award, as confirmed by the Permanent Mission of India to the United Nations. She becomes the third recipient of this award from India.

• Recognition Basis: Community outreach for women and adolescent girls; gender sensitisation training for UN peacekeepers in Lebanon.
• Career First: First woman combat helicopter pilot of the Indian Army; joined Army Aviation Corps in 2022; trained at Combat Army Aviation Training School (CAATS), Nashik, Maharashtra.
• Aircraft: Qualified to co-pilot the indigenous Dhruv Advanced Light Helicopter (ALH) weaponised platforms.
• Current Role: Commander of the Female Engagement Team (FET) in INDBATT-XXVI deployed with UNIFIL (United Nations Interim Force in Lebanon).

Karnataka Grameena Bank (KGB), an Indian Regional Rural Bank (RRB), received the National Award from the Pension Fund Regulatory and Development Authority (PFRDA) for outstanding performance in enrolment under the Atal Pension Yojana (APY), at the APY Annual Felicitation Programme, New Delhi.

• Achievement: Enrolled 2,49,185 APY accounts against PFRDA target of 1,75,500 — achieving 142% of target, highest among all banks in Karnataka.
• Award Presented By: M Nagaraju (Secretary, Department of Financial Services, Ministry of Finance) and S Ramann (Chairperson, PFRDA).
• Atal Pension Yojana (APY): Launched May 2015; government-backed social security scheme for unorganised-sector workers; guaranteed monthly pension of Rs 1,000–Rs 5,000 after age 60, based on subscriber’s contribution; administered by PFRDA.

India successfully test-fired the Agni-1 Short-Range Ballistic Missile (SRBM) from the Integrated Test Range (ITR) at Chandipur, Odisha, under the aegis of the Strategic Forces Command (SFC), validating all operational and technical parameters of the missile system.

• Missile Type: Single-stage, solid-fuelled, road-mobile SRBM with Transporter Erector Launcher (TEL) and rail-launch capability.
• Range: 700–900 km strike range; extendable up to 1,200 km.
• Payload: Up to 1,000 kg — conventional or nuclear warheads; supports India’s credible minimum deterrence strategy.
• Development: Developed by DRDO under the Integrated Guided Missile Development Programme (IGMDP); inducted into Indian Armed Forces in 2004.
• Strategic Forces Command (SFC): India’s nuclear command authority responsible for management and administration of nuclear weapons and delivery systems.

Vice President C. P. Radhakrishnan released the book ‘The Library Man of India: The Story of P.N. Panicker’, authored by P. P. Sathyan, at Uprashtrapati Bhavan, New Delhi. The book is published by Rupa Publications India Private Limited.

• P.N. Panicker’s Legacy: Known as the ‘Father of the Library Movement in Kerala’; led ‘Vayichu Valaruka’ (Read and Grow) — a mass literacy drive; expanded Granthashala Sangham into a network of over 6,000 public libraries across Kerala.
• National Reading Day: P.N. Panicker’s death anniversary, 19 June, is observed as National Reading Day by the Government of India.
• Released By: Vice President C. P. Radhakrishnan at Uprashtrapati Bhavan, New Delhi.
• Author: P. P. Sathyan; published by Rupa Publications India.