NATIONAL CURRENT AFFAIRS – 06.07.2025
Political and Administrative Updates
Parliament Monsoon Session Extended: The Monsoon Session of Parliament has been extended from July 21 to August 21, 2025, instead of the earlier scheduled conclusion on August 12. The session will have a two-day break on August 13-14 for Independence Day preparations.
National Sports Policy 2025 Approved: The Union Cabinet approved the National Sports Policy (NSP) 2025, replacing the 2001 policy. The new policy is built on five key pillars: Excellence on Global Stage, Sports for Economic Development, Sports for Social Development, Infrastructure & Competitions, and Science & Technology integration.
Operation Sindoor Aftermath: The upcoming Parliament session will be the first after Operation Sindoor, launched following the Pahalgam terror attack. Opposition parties are expected to raise concerns about the military operation.
Religious and Cultural Events
Bahuda Yatra Commences: The annual Bahuda Yatra (Return Car Festival) of Lord Jagannath began in Puri, Odisha, marking the return journey of the deities from Gundicha Temple to the main Jagannath Temple.
Ashadhi Ekadashi Observed: Devshayani Ekadashi (Ashadhi Ekadashi) was observed on July 6, 2025, marking the beginning of Lord Vishnu’s four-month divine rest period called Chaturmas.
Muharram Observance: Day of Ashura, the 10th day of Muharram, was observed across India, commemorating the martyrdom of Imam Hussein.
Infrastructure and Development
Indian Railways Fare Revision: A marginal fare hike came into effect on July 1, 2025, with increases of 0.5 paisa/km for Second-Class Ordinary, 1 paisa/km for Mail/Express, and 2 paisa/km for AC classes.
Kailash Mansarovar Yatra: The fourth batch of pilgrims for the Kailash Mansarovar Yatra reached Sherthang, Sikkim, using the Lipulekh route after the pilgrimage resumed post-pandemic and border tensions.
INTERNATIONAL CURRENT AFFAIRS – 06.07.2025
Global Political Developments
Elon Musk Launches America Party: Billionaire Elon Musk announced the formation of ‘The America Party’ in the United States, aiming to challenge what he described as the country’s “uniparty system” and expressing opposition to President Trump’s spending bill.
Texas Flooding Crisis: Death toll from Texas flash floods rose to 32, with 27 children from a summer camp still missing. The floods were caused by over 10 inches of rain in central Kerr County.
Iran Supreme Leader’s Appearance: Iran’s Supreme Leader Ayatollah Ali Khamenei made his first public appearance since the outbreak of the 12-day conflict with Israel, attending a religious ceremony in Tehran.
Gaza Ceasefire Developments: Israel decided to send a delegation to Qatar for talks on a possible Gaza hostage and ceasefire deal, with Hamas submitting a “positive response” to the ceasefire proposal.
International Cooperation
PM Modi’s Brazil Visit: Prime Minister Narendra Modi received a grand welcome in Rio de Janeiro, Brazil, for participation in the 17th BRICS Summit and state visit.
Trinidad and Tobago Partnership: PM Modi held comprehensive talks with Trinidad and Tobago’s Prime Minister, with the nation extending full support to India for UNSC permanent membership.
Quad Foreign Ministers Meeting: External Affairs Minister Dr. S. Jaishankar participated in the Quad Foreign Ministers’ Meeting in the USA from June 30 to July 2, 2025.
SPORTS CURRENT AFFAIRS – 06.07.2025
Cricket Updates
India vs England Test Match: Shubman Gill’s exceptional performance continued in the second Test at Edgbaston, with India positioning for victory. Gill scored twin centuries, becoming the first Indian captain to score 400+ runs in a single Test match.
Record-Breaking Performance: India achieved their highest match aggregate of 1,014 runs, becoming only the sixth team in Test cricket history to cross 1,000 runs in a single match.
Youth Cricket Achievement: 14-year-old Vaibhav Suryavanshi smashed the fastest known century in Youth ODIs, scoring 100 runs in just 52 balls against England.
Other Sports
Boxing Success: Hitesh Gulia and Sakshi entered the semi-finals at the World Boxing Cup 2025 in Astana, Kazakhstan, boosting India’s medal hopes.
Olympic Preparations: The International Olympic Committee (IOC) warned the Indian Olympic Association about governance and doping issues as India prepares its bid to host the 2036 Olympic Games.
Chess Updates: World Champion Dommaraju Gukesh faced challenges in the Blitz event at the SuperUnited Rapid and Blitz Chess Tournament in Zagreb, dropping to third position.
ECONOMY AND BANKING CURRENT AFFAIRS – 06.07.2025
RBI and Monetary Policy
RBI Policy Update: The Reserve Bank of India maintained its growth projection of 6.5% for FY 2025-26, with quarterly growth rates projected at Q1: 6.5%, Q2: 6.7%, Q3: 6.6%, and Q4: 6.3%.
Inflation Forecast: CPI inflation for FY 2025-26 projected at 3.7%, with quarterly projections of Q1: 2.9%, Q2: 3.4%, Q3: 3.9%, and Q4: 4.4%.
Banking System Liquidity: Banking system liquidity surplus crossed ₹4 trillion, the highest since May 2022, driven by increased government spending and RBI’s record surplus transfer.
Financial Sector Updates
State Bank of India Milestone: SBI celebrated 70 years of formation on July 1, 2025, with its ₹66 trillion balance sheet now larger than the GDPs of 175 countries.
Banking Charges Revision: Major banks including Axis Bank and ICICI Bank implemented revised ATM transaction fees and service charges effective July 1, 2025.
GST Collections: GST collections rose 6.2% to ₹1.85 lakh crore in June 2025, marking the slowest growth in four years.
Union Budget 2025-26 Highlights
Fiscal Deficit: Estimated at 4.4% of GDP for FY 2025-26.
Total Expenditure: Estimated at ₹50.65 lakh crore with receipts other than borrowings at ₹34.96 lakh crore.
Tax Reforms: Zero income tax up to ₹12 lakh under the new tax regime and introduction of a new Income Tax Bill 2025.
BANKING SECTOR SPECIFIC UPDATES
Regulatory Changes
New Financial Rules: Aadhaar verification became mandatory for new PAN card applications from July 1, 2025, enhancing tax compliance and digital integration.
GST Return Filing: GSTR-3B forms became non-editable after submission from July 1, 2025, requiring businesses to be more careful with their filings.
ITR Filing Extension: Income Tax Return filing deadline extended to September 15, 2025, providing relief to taxpayers.
Banking Operations
Credit Growth Trends: Bank credit growth to NBFCs continues to lose steam despite RBI rolling back tighter risk-weight norms earlier in the year.
Digital Banking: PhonePe and HDFC Bank announced the launch of a co-branded credit card, marking PhonePe’s entry into the co-branded card segment.
MCLR Reduction: Punjab National Bank reduced its Marginal Cost of Funds Based Lending Rate (MCLR) by 5 basis points across various tenors.
IMPORTANT APPOINTMENTS AND CHANGES
RBI Executive Director: RBI appointed Kesavan Ramachandran as new Executive Director.
R&AW Chief: The Union Government appointed Parag Jain, a senior IPS officer, as the new chief of the Research and Analysis Wing (R&AW).
IndusInd Bank CEO: IndusInd Bank submitted three candidates’ names to RBI for the next CEO position after the deadline ended.
SCIENCE AND TECHNOLOGY
India’s First Green Data Center: Foundation laid for India’s first green data center in Uttar Pradesh, marking a significant step towards sustainable technology infrastructure.
Digital Infrastructure: Centre urged use of only BIS-certified helmets for safety, emphasizing standardization in safety equipment.
AWARDS AND RECOGNITIONS
Ghana’s Highest Honor: Prime Minister Narendra Modi was conferred with Ghana’s highest civilian honor, the “Officer of the Order of the Star of Ghana.”
Mental Health Award 2025: Saima Wazed was awarded the Mental Health Award 2025.
ENVIRONMENT AND CLIMATE
Monsoon Forecast: The India Meteorological Department (IMD) forecasted above-normal monsoon rainfall for July 2025, with precipitation expected to exceed 106% of the Long Period Average.
Weather Alerts: IMD issued red alerts for extremely heavy rainfall in multiple states including Madhya Pradesh and Himachal Pradesh.
Himachal Pradesh Floods: 69 people died and dozens went missing due to monsoon-related disasters, with damages estimated at ₹700 crore.
EXAMINATION-SPECIFIC IMPORTANT POINTS
For Banking Exams (IBPS, SBI, RRB)
SBI’s 70-year milestone and its global ranking among top 50 banks
RBI’s monetary policy stance and inflation projections
New banking regulations and digital payment initiatives
Credit growth trends and NBFC sector developments
For SSC and Other Competitive Exams
Current sports achievements and records
Important appointments and organizational changes
Religious festivals and their cultural significance
State-wise important developments and policies
ONE-LINER FACTS FOR QUICK REVISION
Monsoon Session of Parliament: July 21 to August 21, 2025
SBI Balance Sheet: ₹66 trillion (larger than 175 countries’ GDP)
India’s GDP Growth Projection: 6.5% for FY 2025-26
Fiscal Deficit Target: 4.4% of GDP
GST Collection Growth: 6.2% (slowest in 4 years)
Banking Liquidity Surplus: ₹4 trillion (highest since May 2022)
Texas Flood Casualties: 32 dead, 27 children missing
Shubman Gill’s Test Aggregate: 430 runs (first Indian with 400+ in single match)
PM Modi honored by: Ghana (Officer of the Order of the Star of Ghana)
Bahuda Yatra: Lord Jagannath’s return journey to main temple
Note: This comprehensive update covers major developments across all sectors relevant for competitive examinations. Regular revision of these points will enhance your current affairs preparation for banking, civil services, and other government examinations.
