International Affairs and Geopolitical Developments
Ukraine-Russia Conflict Escalation
Ukraine executed its largest single-day drone attack operation since the war began, targeting Russian military airbases across five regions
The operation codenamed “Spiderweb” successfully targeted 41 strategic Russian aircraft at multiple locations
Drone strikes hit airbases in Murmansk, Irkutsk, Novgorod, Ryazan, and Amur regions
Initial damage assessments suggest enemy aviation losses exceeding $2 billion
The operation involved drones smuggled deep into Russian territory, concealed within mobile cabins mounted on cargo trucks
Strategic bombers were set ablaze at Belaya airbase in Irkutsk (4,300 kilometers from Ukraine) and Olenya airbase in Murmansk
The coordinated attack had been in preparation for over 18 months under direct supervision of Ukrainian leadership
This represents the most extensive single-day military operation targeting Russian strategic aviation capabilities
Middle East Crisis Developments
At least 30 Palestinians killed and over 115 injured in Israeli attack near aid distribution site in Gaza
The incident occurred near Gaza Humanitarian Foundation hub, a US-backed organization
Eyewitnesses reported Israeli forces opened fire on civilians approaching the aid distribution center
Red Cross-run hospital confirmed 21 deaths and 175 wounded from the same incident
The attack targeted people collecting humanitarian aid, highlighting the ongoing crisis in Gaza
Israeli forces control the area where the reported shooting took place
The incident reflects escalating tensions in the region affecting civilian populations
United States Security Incident
FBI investigated targeted terror attack in Boulder, Colorado during pro-Israeli march
Six individuals sustained burn injuries from a makeshift flamethrower attack
Suspect Mohamed Sab Soliman, aged 45, detained after shouting “Free Palestine” during assault
The attack targeted a gathering organized by “Run For Their Lives” group supporting Israeli hostages
Victims aged between 67 and 88 years, suffering severe to minor burn injuries
The incident highlights rising tensions related to Middle East conflict within US communities
National Economic Developments
Monetary Policy Expectations
Reserve Bank of India anticipated to announce third consecutive 25 basis points repo rate cut on June 6, 2025
Decision driven by sustained low inflation below 4 percent median target and global economic uncertainty
Current repo rate stands at 6 percent following previous cuts in February and April 2025
RBI policy stance shifted from neutral to accommodative in April 2025
Cumulative rate reduction of 50 basis points achieved in 2025
Multiple banks already reduced External Benchmark Lending Rates and Marginal Cost of Funds-Based Lending Rates
GDP Performance and Economic Indicators
India’s Q4 GDP recorded robust 7.4 percent growth for January-March quarter
Full-year FY25 GDP growth maintained at 6.5 percent, meeting government forecasts
Private Final Consumption Expenditure rose 7.2 percent in FY25, improving from 5.6 percent previous year
Gross Fixed Capital Formation grew 9.4 percent in Q4 and 7.1 percent annually
Construction sector led growth with 10.8 percent expansion in Q4 and 9.4 percent yearly
Primary sector showed significant improvement with 5.0 percent Q4 growth compared to 0.8 percent previous year
Nominal GDP estimated at 9.8 percent growth for FY25
Foreign Exchange Reserves Surge
India’s forex reserves jumped significantly by $6.992 billion to reach $692.721 billion in week ending May 23
Current reserves provide coverage for approximately 10-12 months of projected imports
Forex kitty approaches all-time high of $704.89 billion achieved in September 2024
Foreign Currency Assets component stands at $586.167 billion
Gold reserves maintained at $83.582 billion reflecting central bank diversification strategy
RBI strategic intervention involves dollar purchases during rupee strength and sales during weakness
Financial Sector Changes
New credit card regulations effective from June 1 impose additional charges on utility bills and fuel payments
Kotak Mahindra Bank implementing 1 percent fee on fuel payments beyond monthly limits
Reward points capping introduced for rent, utility bills, and insurance payments
ATM withdrawal fees increased beyond free transaction limits across multiple banks
LPG cylinder prices revised monthly based on market trends
Fixed deposit interest rates reduced by select banks, with Suryoday Small Finance Bank cutting rates by 0.60 percent
Aadhaar card updates remain free until June 14, 2025, before fee implementation
Infrastructure and Development Initiatives
Urban Transportation Milestone
Prime Minister Modi inaugurated Indore’s first metro rail service, marking Madhya Pradesh’s entry into metro connectivity
Commercial operations commenced on 6-kilometer Super Priority Corridor connecting Gandhi Nagar Station to Station No. 3
Project constructed at cost of Rs 1,520 crore with five stations named after prominent women leaders
Metro stations honor Devi Ahilya Bai Holkar, Maharani Lakshmi Bai, Rani Avanti Bai Lodhi, Rani Durgavati, and Veerangana Jhalkari Bai
Indore becomes 24th city in India to launch metro rail services
Complete network planned for 31.32 kilometers with 28 stations at estimated cost of Rs 7,500.8 crore
Current three-coach trains accommodate 980 passengers with future six-coach capability
Healthcare Accessibility Program
Ministry of Youth Affairs and Sports launched Jan Aushadhi Kendra Experiential Learning Program under “Seva Se Seekhen” campaign
15-day initiative places five youth volunteers in Jan Aushadhi Kendras per district nationwide
Program participants drawn from MY Bharat, NSS, MYB Kendra, Pharmacy Colleges, and youth organizations
Initiative promotes hands-on learning while strengthening community engagement in affordable healthcare delivery
Program enhances reach of Pradhan Mantri Bharatiya Janaushadhi Pariyojana while building youth employability
Space Weather and Scientific Developments
Solar Storm Activity
Powerful coronal mass ejection from sunspot 4100 targeted Earth on June 1, 2025
M8.2-class solar flare lasting over three hours generated fast-moving halo CME at 1,938 kilometers per second
NASA and NOAA models predicted severe G4-class geomagnetic storm conditions
Potential for aurora visibility across Europe and numerous US states at unusually low latitudes
Storm conditions expected to continue through June 2 with possible infrastructure impacts
Event provides critical data for understanding solar cycle dynamics and space weather preparation
Sports and Entertainment Updates
Chess Championships
Norway Chess tournament featuring prominent Indian players D Gukesh, Arjun Erigaisi, R Vaishali, and Koneru Humpy
Tournament represents significant international chess competition with strong Indian representation
Domestic Sports Leagues
Pro Kabaddi League auction continued with Day 2 proceedings
Mohammadreza Shadloui and Devank Dalal emerged among top purchases on auction opening day
Ultimate Table Tennis league maintained ongoing competition schedule
Dabang Delhi defeated Jaipur Patriots in UTT opener, establishing early tournament momentum
Athletic Achievements
India concluded Asian Athletics Championships with impressive medal tally of 24 medals
Performance demonstrates strong athletic development and competitive capabilities in regional competition
Academic and International Conferences
Global Legal and Policy Forums
Canadian Yearbook of International Law organizing symposium on “Adjudication of Climate Change” with submission deadline July 15
University of Ottawa hosting Young Scholars Workshop on November 12, 2025
UiT Arctic University of Norway conducting seminar on “Developments in Law of State Immunity” on November 20
Asser Institute in The Hague organizing early career conference on Humanitarian Disarmament for September 11-12
Australian Progressive Legal Studies collective planning workshop on “Law and Political Economy of 21st-Century Authoritarianism”
London International Boundary Conference scheduled for June 12-13 at King’s College London
Trade and Economic Implications
US President Trump announced doubling of steel import tariffs from 25 percent to 50 percent effective June 4
Decision affects approximately $5 billion worth of Indian exports in steel and aluminum categories
Move complicates ongoing Bilateral Trade Agreement negotiations between India and United States
Engineering Export Promotion Council expressed concerns over impact on $5 billion engineering exports
Tariff escalation follows pattern of increased protectionist measures affecting global trade relationships
