Major International Events
Israel launched airstrikes targeting Iran’s nuclear facilities, including Natanz, resulting in significant casualties and infrastructure damage.
The Israeli Prime Minister announced continued operations against Iranian threats.
Iran’s leadership warned of strong retaliation, and over 100 drones were launched in response.
The United States distanced itself from the Israeli action, labeling it a unilateral move.
Russia announced plans to build eight nuclear power plants in Iran.
The European Union prepared new sanctions against Russia’s energy and banking sectors.
Ukraine claimed to have shot down a Russian Su-35 fighter jet using F-16 aircraft.
Major National Events
Air India Flight AI171, a Boeing 787 Dreamliner, crashed in Ahmedabad shortly after takeoff to London, resulting in 241 fatalities and one survivor.
The aircraft failed to gain sufficient thrust for takeoff, and a mayday call was issued immediately after departure.
This incident marked the first crash involving a Boeing 787 Dreamliner since its introduction.
Investigation teams from national and international agencies began inquiries into the cause.
Banking and Financial News
The Reserve Bank of India discontinued daily Variable Rate Repo auctions, indicating surplus liquidity in the banking system.
RBI skipped its 14-day main liquidity operation for the third consecutive fortnight.
System liquidity remained high, with significant tax outflows expected in mid-June.
RBI eased KYC norms, allowing Business Correspondents and video-based updates for wider financial inclusion.
SEBI mandated registered intermediaries to use dedicated UPI addresses for secure payments.
Sensex dropped by 573.6 points, closing at 81,118.60, and Nifty50 declined by 169.6 points to 24,718.6, mainly due to geopolitical tensions.
Crude oil prices surged by 8.57% following the escalation in the Middle East.
India VIX rose, reflecting increased market volatility.
Most Sensex stocks closed lower, with banking and FMCG sectors leading the declines.
Economic Developments
India’s retail inflation fell to a six-year low of 2.82% in May 2025.
Food inflation dropped to 0.99%, with notable price declines in vegetables, pulses, and meat.
Kerala recorded the highest inflation, while Telangana had the lowest among states.
Experts projected the Consumer Price Index to average around 4% for FY26.
Scapia and Federal Bank launched India’s first dual-network credit card with Visa and RuPay.
NTPC Limited signed a $750 million syndicated term loan agreement.
IREDA raised ₹2,005.90 crore through Qualified Institutions Placement.
DFCC Bank PLC became the first foreign corporate to list a bond on NSE International Exchange at GIFT City.
Life insurers’ new business premium grew by 12.68% year-on-year to ₹30,463 crore in May 2025.
Defense and Security News
India and US Air Force Special Forces concluded their first joint exercise ‘Tiger Claw’ in Uttar Pradesh.
Indian Army contingent arrived in Mongolia for the multinational exercise Khaan Quest.
Indian Coast Guard conducted a meeting focused on energy infrastructure protection.
A 10-member NCC team, including five girls and five boys, successfully summited Mount Everest.
The Defense Minister felicitated the NCC team with a monetary reward.
Indian Navy’s INS Tabar conducted a passage exercise with the UK’s Carrier Strike Group in the North Arabian Sea.
Indian Coast Guard successfully winched salvage team members onto a burning vessel off the Kerala coast.
Government Policies and Initiatives
Meghalaya Cabinet approved the Chief Minister’s Regional Connectivity Scheme 2025, introducing 90 buses for district connectivity with subsidies and loans.
Electric vehicles are encouraged under the scheme with designated routes for commuters and students.
The Union Cabinet approved two major railway multitracking projects in Jharkhand, Karnataka, and Andhra Pradesh.
The Ministry of Rural Development launched the ‘Naksha’ pilot programme across 157 Urban Local Bodies in 27 states.
The Forest Advisory Committee gave in-principle clearance to the Etalin Hydropower Project in Arunachal Pradesh.
Basic Customs Duty on crude edible oils was reduced from 20% to 10%.
Sports News
Wimbledon 2025 announced a record prize pool of £53.5 million, with singles champions receiving £3 million each.
Suruchi won her third consecutive World Cup gold in the 10m pistol event at the Munich ISSF World Cup.
Sift Kaur Samra won bronze in the women’s 50m rifle 3 positions at the ISSF World Cup Munich.
Elavenil Valarivan secured bronze in the women’s 10m air rifle event.
India lost 2-1 to Argentina in the FIH Pro League hockey match.
Weather and Environmental Updates
Kerala issued a red alert in Kannur and Kasaragod districts for extremely heavy rainfall.
The India Meteorological Department forecast widespread rain across Kerala for the next five days.
Educational institutions in Kannur were closed due to heavy rainfall warnings.
Orange and yellow alerts were issued in multiple districts.
Strong winds were expected along the Kerala-Karnataka-Lakshadweep coast.
Heat wave conditions persisted across North India, with severe heat in Jammu-Kashmir, Haryana, and West Rajasthan.
Fishermen were advised against venturing into the sea along the southern coast due to adverse weather.
Important Days and Observances
International Albinism Awareness Day was observed globally to promote the rights and dignity of people with albinism.
Awareness programs were conducted to highlight the challenges and discrimination faced by the albinism community.
Appointments and Awards
Multiple appointments were announced in the biopharma industry and various corporate sectors.
NCC cadets who scaled Mount Everest were honored by the Defense Minister with monetary rewards.
State-level recognitions were announced for outstanding contributions in various fields.
