NATIONAL AFFAIRS
Banking and Financial Sector
Major Financial Changes Effective July 2025
Aadhaar verification becomes mandatory for new PAN card applications starting July 1, 2025
Cash Reserve Ratio (CRR) reduced by 100 basis points to support banking liquidity
HDFC Bank implements 1% fee on monthly online gaming spends exceeding Rs 10,000
SBI revises Minimum Amount Due calculation including full GST amounts
ICICI Bank updates ATM and IMPS charges across various banking services
Bank of Baroda eliminates Monthly Average Balance penalties for standard savings accounts effective July 1
RBI Monetary Policy Update June 2025
Policy repo rate cut by 50 basis points to 5.50% in 5:1 MPC vote
Standing Deposit Facility rate adjusted to 5.25%
Marginal Standing Facility rate set at 5.75%
Policy stance changed from ‘accommodative’ to ‘neutral’
GDP growth forecast maintained at 6.5% for FY26
CPI inflation moderated to 3.2% in April 2025, lowest in six years
Government Policies and Schemes
ESIC Launches SPREE 2025 Initiative
Scheme for Promotion of Registration of Employers and Employees active from July 1 to December 31, 2025
One-time opportunity for unregistered employers and employees to enroll without inspections
Immunity from retrospective penalties and backdated dues
Targets contractual and temporary workers for social security coverage
Research Development Innovation Scheme
Union Cabinet approves Rs 99,771 crore RDI Scheme on July 1, 2025
Focus on deep-tech investment in AI, clean energy, biotech, quantum computing
Long-term low-interest loans through Anusandhan National Research Foundation
Aims to increase R&D spending from current 0.64% of GDP
Uttar Pradesh Financial Inclusion Campaign
Statewide saturation campaign from July 1 to September 30, 2025
100% coverage target for Pradhan Mantri Jan Dhan Yojana beneficiaries
KYC re-verification of dormant accounts and new bank account openings
District-level implementation through gram panchayats
Judicial Updates
Supreme Court Key Developments June 2025
Justice BR Gavai sworn in as 52nd Chief Justice of India
Court issues circular on procedure for Letters of Adjournment
Review petition filed against mandatory 3-year legal practice for judicial service entry
NEET-PG 2025 examination permitted with time extension to August 3
Religious and Cultural Affairs
Muharram Observance July 2025
Ashura (10th Muharram) observed on July 6, 2025 in most states
July 7 declared working day for most educational institutions and offices
States like Uttar Pradesh, Maharashtra, Telangana provided optional holidays
Moon sighting confirmation influenced final date determination
INTERNATIONAL AFFAIRS
Diplomatic Relations
Prime Minister Modi’s Argentina Visit
Warm reception by Indian diaspora during official visit
Bilateral talks focused on defense, trade, and energy cooperation
Participation in high-level international summit discussions
Strengthening of India-Argentina strategic partnership
India-US Trade Relations
Trade talks stalled over auto parts, steel, and agricultural goods
90-day tariff pause deadline approaching July 9, 2025
Potential impact on India’s economic outlook if deal fails
Negotiations focus on reciprocal tariff arrangements
Global Political Developments
Elon Musk Political Initiative
Launch of ‘America Party’ following tensions with Donald Trump
New political platform introduction amid changing US political landscape
Focus on giving back freedom to American citizens
Significant development in US political dynamics
China-Tibet Relations
Chinese envoy dismisses Dalai Lama’s authority on reincarnation process
Assertion of state control over religious succession matters
Dalai Lama expresses hope to live 30-40 more years at age 90
Continued tensions over Tibetan autonomy issues
International Security
Pakistan-India Relations
Pakistan criticizes India over Pahalgam terror incident aftermath
Accusations of destabilizing peace efforts in the region
Continued diplomatic tensions over security issues
Regional stability concerns in South Asian context
Middle East Developments
Heavy floods in Texas result in at least 50 casualties
Rescue operations underway with PM Modi offering condolences
International disaster response coordination
Climate-related extreme weather events increasing globally
SPORTS ACHIEVEMENTS
Cricket Excellence
India vs England Test Series
Shubman Gill creates history with record-breaking Test performance
Akash Deep’s exceptional 10-wicket haul leads India to victory
India levels Anderson-Tendulkar Trophy 1-1 with 336-run win at Edgbaston
First-ever Indian Test victory at Edgbaston stadium
Captain Gill’s leadership praised for series turnaround
Women’s Cricket
India leads England 2-1 in T20 series despite close 5-run loss
Historic qualification for AFC Women’s Asian Cup 2026
Defeat of higher-ranked Thailand team ends their 7-tournament streak
Significant milestone for Indian women’s football development
Athletics and Individual Sports
Record-Breaking Performances
Animesh Kujur sets new national record with 10.18 seconds in 100m sprint
Becomes first Indian to hold both 100m and 200m national records
Mohammed Afsal breaks own 800m national record with 1:45.67 timing
Neeraj Chopra wins gold at inaugural Neeraj Chopra Classic in Bengaluru
Combat Sports Success
Sakshi Chaudhary clinches gold in women’s 54kg boxing category
India bags 11 medals at World Boxing Cup in Astana
Jaismine and Nupur also secure gold medals in their respective categories
Strong performance by Indian boxing contingent internationally
Other Sports Highlights
Squash Championships
Anahat Singh and Aryaveer Choudhary win gold at Asian Junior Championships
Continued dominance of Indian squash in youth categories
Development of next generation of squash talent
Building momentum for senior international competitions
Badminton Success
Kidambi Srikanth reaches semi-finals at Canada Open
Consistent performance by Indian shuttlers on international circuit
Maintaining competitive rankings in world badminton
ECONOMIC INDICATORS
Market Performance
Stock Market Updates July 7, 2025
NSE Nifty 50 and BSE Sensex continue regular trading despite Muharram
Nifty closed at 25,461 with 0.22% gain on July 4
Sensex ended at 83,432.89 with 193.42 points increase
IT, oil & gas, and realty sectors showed positive momentum
Banking stocks led market recovery amid volatility
Economic Growth Projections
India maintains position as fastest-growing major economy
Morgan Stanley forecasts 5.9% GDP growth in 2025 and 6.4% in 2026
Economic fundamentals remain strong despite global uncertainties
Manufacturing GVA increased from Rs 15.6 lakh crore to Rs 27.5 lakh crore
Services exports reached USD 387.5 billion with 13.6% annual growth
Inflation and Monetary Policy
Inflation Control Success
CPI inflation drops to 2.82% in May 2025, lowest since February 2019
Food inflation recorded at just 0.99%, lowest since October 2021
Rural and urban food inflation nearly identical at 0.95% and 0.96%
RBI expects inflation to remain aligned with 4% medium-term target
Stable commodity prices supporting price control efforts
Foreign Trade and Investment
Export Performance
Record non-petroleum merchandise exports at USD 374.1 billion
Services exports maintain strong growth trajectory
Manufacturing sector shows consistent expansion
Foreign exchange reserves remain robust
Positive trade balance trends supporting currency stability
COMPETITIVE EXAM UPDATES
SSC Examinations
SSC Calendar 2025-26 Released
Complete schedule for major SSC exams including CGL, CHSL, MTS
SSC CGL Tier-I examination scheduled August 13-30, 2025
SSC CHSL Tier-I examination dates: September 8-18, 2025
SSC MTS examination planned for September 20 – October 24, 2025
Delhi Police recruitment notifications expected July-September 2025
Banking Examinations
Upcoming Banking Exams 2025
SBI PO 2025 registrations: June 24 to July 14, 2025
IBPS PO 2025 registrations: July 1 to 21, 2025
IBPS SO 2025 preliminary exam: August 30, 2025
IBPS Clerk 2025 preliminary exams: October 4, 5, 11, 2025
RBI Grade B 2025 registration expected in July
UPSC Updates
Civil Services Examination 2025
UPSC notification released on January 22, 2025
Preliminary examination scheduled for May 25, 2025
Main examination dates: August 22, 2025 onwards
Engineering Services Main Examination: June 22, 2025
Combined Medical Services Examination: August 3, 2025
Railway Recruitment
RRB Examination Schedule
RRB ALP 2025 proposal preparation in January-March period
RRB NTPC 2025 planning for July-September timeline
RRB Group D 2025 scheduled for October-December
Technician and Paramedical categories recruitment ongoing
Ministerial and Isolated Categories positions available
INAUGURATIONS AND EVENTS
Infrastructure Development
Digital Infrastructure Initiatives
Implementation of enhanced digital banking platforms
Cloud-native API-first core banking system adoption
Account Aggregator framework expansion for better financial services
UPI international corridor expansion for B2B payments
Educational and Cultural Events
Academic Excellence Recognition
CA Final topper Rajan Kabra shares success strategy using only ICAI material
Emphasis on focused preparation without fancy notes
Success story inspiring future chartered accountancy aspirants
Recognition of academic achievement in professional education
Sports Infrastructure
Neeraj Chopra Classic 2025
Inaugural World Athletics Gold-level meet hosted in Bengaluru
Over 15,000 fans attendance at Sree Kanteerava Stadium
First-time hosting of international athletics meet in India
Showcase of India’s capability to organize world-class sporting events
KEY DATES TO REMEMBER
July 2025 Important Dates
July 1: Aadhaar mandatory for new PAN applications
July 1-31: ESIC SPREE 2025 registration without penalties
July 4: SSC CGL 2025 application deadline
July 7: Regular banking and stock market operations
July 9: US-India trade deal deadline
July 14: SBI PO 2025 registration closing date
July 15: Aadhaar OTP mandatory for Tatkal railway bookings
July 21: IBPS PO and SO 2025 registration deadline
Upcoming Examination Dates
August 13-30: SSC CGL Tier-I examination
August 17, 23, 24: IBPS PO preliminary examination
August 30: IBPS SO preliminary examination
September 8-18: SSC CHSL Tier-I examination
September 20-October 24: SSC MTS examination
This comprehensive current affairs update for July 7, 2025, covers all major developments across banking, government policies, international relations, sports achievements, economic indicators, and competitive examination updates essential for banking and government job aspirants preparing for various competitive examinations in India.
