National News Headlines
Prime Minister Modi Celebrates 10 Years of Digital India Initiative
PM Modi marked the 10th anniversary of Digital India program on July 1, 2025
Highlighted the transformative journey that empowered citizens and advanced digital governance
Called it a decade of empowerment making India a global digital leader
Focus on citizen empowerment and digital governance progress achieved over the decade
Finance Minister Congratulates State Bank of India on Completing 70 Years
FM Nirmala Sitharaman praised SBI’s vast network and digital progress
Highlighted the bank’s key role in supporting farmers, women, MSMEs and beneficiaries of government welfare schemes
SBI’s contribution to nation-building recognized through its wide reach and digital advancement
GST Marks 8 Years of Implementation with Record Collections
Goods and Services Tax completed 8 years since its launch in 2017
Simplified compliance procedures and reduced business costs significantly
Enabled smooth inter-state trade and played crucial role in tax reform
Record GST collections of ₹22.08 lakh crore achieved in FY25, marking 9.4% growth
Average monthly collections increased with taxpayer base expanding to over 1.51 crore
Union Cabinet Approves Major Infrastructure Project in Tamil Nadu
Cabinet approved ₹1,853 crore four-laning of NH-87 Paramakudi-Ramanathapuram section
Project aims to ease traffic congestion and improve connectivity to key towns
Will enhance connectivity to Rameshwaram and Dhanushkodi under Hybrid Annuity Mode
Telangana Chief Minister Announces Compensation for Industrial Accident Victims
CM Revanth Reddy announced ₹1 crore compensation for families of Pashamylaram factory blast victims
₹10 lakh compensation for seriously injured workers
₹5 lakh for partially injured workers in the industrial incident
Government Begins Testing Real-Time Disaster Alert System
Nationwide testing of real-time disaster alert system via mobile phones initiated
Aimed at improving emergency response and public safety measures
Part of broader disaster management and preparedness strategy
Important Government Appointments and Extensions
Longjam Siddhartha Singh’s tenure as Additional Secretary & Financial Advisor, Ministry of Defence extended until May 12, 2026
Murli Manohar Singh prematurely repatriated to parent cadre on personal grounds from Department of Higher Education
Various other senior appointments made across different ministries and departments
International News Updates
QUAD Nations Launch First-Ever Maritime Mission
India, Japan, US, and Australia launched historic “QUAD at Sea Ship Observer Mission”
Two officers including women officers from each country embarked on US Coast Guard Cutter Stratton
Mission sailing to Guam to enhance joint readiness and operational coordination
Aims to strengthen maritime security in Indo-Pacific region under Wilmington Declaration
Supports free, open, inclusive and rules-based Indo-Pacific vision
Reinforces India’s SAGAR (Security and Growth for All in the Region) maritime vision
Thailand Prime Minister Suspended Over Ethics Case
Constitutional Court suspended PM Paetongtarn Shinawatra with 7-2 majority vote
Suspension effective from July 1 until court issues final ruling
Related to leaked phone call with Cambodia’s Hun Sen during border dispute tensions
Deputy PM Suriya appointed as caretaker during proceedings
PM has 15 days to respond to ethics charges
Bangladesh Confirms Elections Timeline for Early 2026
Chief Advisor Muhammad Yunus confirmed elections in early 2026 during talks with US Secretary Marco Rubio
Discussed democratic transition reforms and Rohingya refugee aid
Elections could be held between December 2025 to June 2026 depending on reform progress
Focus on implementing electoral and governance reforms before polls
Indo-French Joint Military Exercise Shakti Concludes
Exercise Shakti 2025 concluded after two weeks of intensive bilateral defense training in France
Over 500 personnel from Indian forces and France’s 13th Foreign Legion participated
Enhanced military cooperation and interoperability between both nations
Banking and Finance Sector News
India’s Bank Gross NPAs Fall to Multi-Decade Low
Gross Non-Performing Assets fell to historic low of 2.3% in March 2025 according to RBI’s Financial Stability Report
Improvement attributed to increased loan write-offs, reduced slippage ratios and sustained regulatory efforts
Marks significant achievement in banking sector health and stability
Bank Credit Growth Shows Sectoral Variations
RBI’s sectoral credit report for May 30, 2025 shows slowdown in overall bank credit growth
Industrial credit rose only 4.9% while personal loans, services sector lending and NBFC loans declined
Medium enterprises and renewable energy sectors showed strong growth
Reflects cautious lending practices and changing sectoral dynamics
Small Savings Schemes Interest Rates Unchanged
Government kept interest rates unchanged for various small savings schemes for sixth consecutive quarter
Rates for PPF, NSC, SCSS, SSY, POMIS maintained from April-June 2025 levels
Sukanya Samriddhi Yojana continues to earn 8.2% interest
Decision covers July to September quarter of FY 2025-26
Slice Launches UPI Credit Card and Opens India’s First UPI-Powered Bank Branch
Revolutionary step in digital banking and payment solutions
Combines traditional banking with modern UPI technology
Opens new possibilities for credit card usage through UPI platform
Jumbotail Becomes 5th Unicorn of 2025
Achieved unicorn status with USD 120 million funding round
Joins growing list of Indian startups reaching billion-dollar valuations
Reflects strong investor confidence in Indian startup ecosystem
Sports News Highlights
Wimbledon 2025 Championships Update
Third seed Jessica Pegula suffered shock first-round exit
Tournament continues with defending champions Carlos Alcaraz and Barbora Krejcikova in action
Golden Knights acquired Mitch Marner from Maple Leafs for 8 years and $96 million
Various upset results recorded in early rounds of the tournament
Cricket Team Preparations
Indian cricket team ready to implement new strategies in upcoming match against Iraq
Both men’s and women’s teams currently in England for multiple format series
Men’s team playing World Test Championship matches while women’s team in T20 series
Kishore Jena withdraws from Neeraj Chopra Classic due to injury, replaced by Yashvir
IPL 2025 Update
Season suspended on May 9 due to India-Pakistan crisis, resumed from May 17
Royal Challengers Bengaluru defeated Punjab Kings by 6 runs to win maiden title
Sai Sudharsan scored most runs (759) while Prasidh Krishna took most wickets (25)
Suryakumar Yadav awarded Most Valuable Player of the tournament
Business and Economic Developments
Stock Market Performance
Indian equity markets settled flat with positive bias on July 1
BSE Sensex closed at 83,697.29, up 90.83 points (0.11%)
NSE Nifty50 ended at 25,541.8, gaining 24.75 points (0.1%)
FIIs net sold shares worth ₹1,970.03 crore while DIIs net bought ₹725.60 crore
Market breadth remained mixed with cautious optimism ahead of trade negotiations
India-US Trade Deal Developments
India set to finalize interim trade deal with US to avoid Trump’s reciprocal tariffs
Agreement aims to be first step toward comprehensive bilateral trade pact by autumn
Negotiations in final stages ahead of July 9 tariff deadline
US Treasury Secretary confirmed trade deals on agenda with India close to signing
Global Economic Outlook
World Bank projects global growth to slow to 2.3% in 2025
Growth forecasts cut for 70% of economies due to trade tensions and policy uncertainty
Expected to be slowest pace since 2008 outside of global recessions
Developing economies growth expected to average 3.8% in 2025
Technology Sector Updates
Apple unveiled Metal 4 with native AI capabilities at WWDC 2025
Major npm registry security breach affected 847 packages
MongoDB reached 1 million developers milestone and launched AI features
Google I/O 2025 delivered enhanced Gemini developer features
Defense and Security Updates
Army Chief’s Official Visit to Bhutan
General Upendra Dwivedi embarked on four-day official visit to Bhutan
Aimed at enhancing enduring defense cooperation between both countries
Scheduled meetings with King of Bhutan and senior Royal Bhutan Army officials
Interactions planned with IMTRAT and Project DANTAK officials
DRDO Unveils Indigenous Photonic Radar
First indigenous photonic radar for advanced stealth detection unveiled
Represents major advancement in India’s defense technology capabilities
Enhances detection capabilities against modern stealth aircraft and missiles
Rear Admiral V Ganapathy Assumes Command of Military Institute of Technology
Appointed as Commandant of MILIT Pune under Headquarters Integrated Defence Staff
Focus on preparing mid-career officers in cutting-edge military technologies
Emphasis on niche and emerging domains reshaping modern warfare
Important Days and Observances
July 1, 2025 Observances
National Doctor’s Day (India) – Honoring Dr. Bidhan Chandra Roy’s contributions
Goods and Services Tax Day – Commemorating 8 years of GST implementation
National Chartered Accountants Day – Recognizing CA profession’s contributions
Canada Day – Celebrating Canadian confederation
July 2, 2025 Observance
World UFO Day – Raising awareness about unidentified flying objects and extraterrestrial life
Government Schemes and Initiatives
Union Budget 2025-26 New Schemes Announced
Prime Minister Dhan-Dhaanya Krishi Yojana for developing agricultural districts
Rural Prosperity and Resilience Programme for comprehensive rural development
National Mission for Edible Oilseed to achieve self-reliance in edible oils
6-year Mission for Atmanirbharta in Pulses focusing on Urad, Tur and Masoor
Scheme for 5 lakh women, ST and SC first-time entrepreneurs with loans up to ₹2 crore
Raj Bhavan Annadhan Scheme Launched in Goa
New initiative for food security and welfare
Part of broader social welfare programs in the state
Education Sector Updates
NEET UG 2025 Developments
MP High Court orders NTA to conduct retest for students affected by power outage
Centres in Indore and Ujjain specifically mentioned for the retest
CUET UG Result 2025 declared with experts explaining normalization process
Karnataka PUC Results Announced
2nd PUC Exam 2025 results declared with 85.19% overall pass percentage
JoSAA counselling schedule for IIT admissions released
IBPS PO 2025 registration begins for 5,208 vacancies
Science and Technology Achievements
Global Satellite Deployment Rankings
USA leads with 8,530 satellites while India ranks 7th with 136 satellites
Reflects India’s growing space capabilities and technological advancement
Part of broader space technology development initiatives
Research Breakthrough in Computing
World’s first silicon-free computer built using 2D materials
Represents major advancement in next-generation computing technology
Could revolutionize computer hardware design and manufacturing
Awards and Recognition
Global Unicorn Index 2025
USA topped the rankings while India secured 3rd position with 67 unicorns
Demonstrates India’s strong startup ecosystem and innovation capabilities
Reflects growing investor confidence in Indian technology companies
Environmental Recognition
Union Minister Bhupendra Yadav released MEE Report 2020-25 for 438 Protected Areas
Kerala and Chandigarh topped the rankings for environmental management
Highlights states’ efforts in wildlife and environmental conservation
Youth and Sports Achievements
Mountaineering Record
Teghbir Singh becomes world’s youngest to climb summit of Mount Elbrus
Represents India’s growing presence in adventure sports and mountaineering
Inspiring achievement for Indian youth in extreme sports
Tennis Championship Updates
US Open 2025: Ayush Shetty wins Men’s Singles title
Tanvi Sharma finishes as runner-up in women’s category
Showcases India’s emerging talent in international tennis competitions
This comprehensive daily current affairs update for July 2, 2025, covers all major developments across national and international spheres, providing essential information for banking and competitive examination preparations in India. The content focuses on factual reporting without citations, organized in point-wise format for easy comprehension and revision.
