National News Headlines for 08.06.2025
Economic and Banking Developments
RBI Monetary Policy Update: Reserve Bank of India reduced repo rate by 50 basis points from 6.00% to 5.50% during the 55th Monetary Policy Committee meeting held from June 4-6, 2025
Policy Stance Change: RBI shifted its policy stance from “Accommodative” to “Neutral,” indicating a data-dependent approach for future rate decisions
Standing Deposit Facility Rate: Cut to 5.25%, maintaining 25 basis points below repo rate
Marginal Standing Facility Rate: Lowered to 5.75%, keeping 25 basis points above repo rate
GDP Growth Projection: RBI projected Real GDP growth for 2025-26 at 6.5%, with quarterly breakdowns of Q1: 6.5%, Q2: 6.7%, Q3: 6.6%, and Q4: 6.3%
Inflation Forecast: RBI revised inflation forecast downward to 3.7% for 2025-26, citing strong wheat production and favorable monsoon outlook
Infrastructure and Transportation
Udhampur-Srinagar-Baramulla Rail Link: PM Modi inaugurated the complete rail connectivity to Kashmir Valley after 28 years of planning and construction
Vande Bharat Express Launch: Regular service commenced between Srinagar and Vaishno Devi Katra, enhancing connectivity in Jammu & Kashmir
Chenab Bridge Inauguration: World’s highest railway arch bridge over Chenab River dedicated to the nation by PM Modi
Anji Bridge Opening: India’s first cable-stayed rail bridge over Anji River inaugurated, marking engineering milestone
Project Investment: PM Modi dedicated projects worth ₹46,000 crore in Jammu & Kashmir, boosting regional infrastructure
Language and Governance Initiatives
Bharatiya Bhasha Anubhag Launch: Home Minister Amit Shah inaugurated this platform on June 6, 2025, to promote Indian languages in governance
Funding Allocation: ₹56 crore allocated for the initiative, backed by C-DAC for real-time translation capabilities
NEP 2020 Integration: Initiative aligns with National Education Policy 2020 vision for linguistic inclusivity
Health and Safety Updates
COVID-19 Surge: Active cases jumped from 93 on May 16 to 5,364, with highest numbers reported from Kerala, Gujarat, West Bengal, and Delhi
Mock Drills Initiated: Central government launched nationwide preparedness assessment for potential COVID surge
Hospital Preparedness: States directed to ensure availability of oxygen, isolation beds, ventilators, and essential medicines
Political Developments
Maharashtra Election Controversy: Rahul Gandhi raised allegations of irregularities in Maharashtra assembly elections
Sonia Gandhi Hospitalization: Congress leader admitted to hospital, with doctors monitoring her condition
Helicopter Emergency Landing: Technical malfunction forced Kestrel Aviation helicopter to make emergency landing on national highway in Rudraprayag
International News for 08.06.2025
US-China Relations
Trump-Xi Phone Conversation: Chinese President Xi Jinping and US President Donald Trump held discussions on trade tensions and Taiwan issues
Trade Agreement Progress: Both leaders agreed to pursue further trade talks while addressing tariff concerns
Taiwan Sensitivity: Xi urged prudence regarding Taiwan policies during bilateral discussions
Middle East Developments
Pakistan Border School Attack: Government school bombed in northwest Pakistan’s Khyber Pakhtunkhwa region
Thailand-Cambodia Tensions: Military buildup reported along Thailand-Cambodia border following recent deadly clashes
Diplomatic Efforts: Both nations engaged in high-level talks while maintaining military readiness
Legal and International Justice
ICC Sanctions: Trump administration imposed sanctions on four International Criminal Court judges over war crimes investigations
Supreme Court Ruling: US Supreme Court unanimously allowed reverse discrimination lawsuit proceeding
Regional Security
Quad Space Act 2025: US introduced legislation to strengthen space cooperation among Quad nations for Indo-Pacific stability
Defense Coordination: Focus on maintaining space dominance and ensuring regional security
Sports News for 08.06.2025
Football Achievements
Uzbekistan World Cup Qualification: Historic first-ever FIFA World Cup 2026 berth secured after draw with UAE
Coach Recognition: Uzbekistan coach praised team’s achievement after seven failed attempts since 1991 independence
Group Performance: Team finished in top two of Group A to secure automatic qualification
Cricket Updates
Test Series Naming: India-England Test series renamed as Tendulkar-Anderson Trophy honoring cricket legends
Trophy Unveiling: Sachin Tendulkar and James Anderson to unveil trophy at WTC final on June 11 at Lord’s
Leadership Transition: Shubman Gill embraces new role as India’s Test captain following retirements of Rohit Sharma and Virat Kohli
Player Retirement: Piyush Chawla announced retirement from all forms of cricket
Tennis Championships
French Open Progress: Mixed doubles final concluded with Italian pair Errani and Vavassori defeating American duo
Men’s Semifinals: Djokovic vs Sinner and Alcaraz vs Musetti scheduled for semifinals action
International Football
Nations League: Spain defeated France 5-4 in thrilling semifinal, with 17-year-old Lamine Yamal starring
Final Qualification: Spain advances to face Portugal in Nations League final
Banking and Financial Sector Updates
Monetary Policy Impact
EMI Relief: 50 basis points repo rate cut expected to reduce EMIs for borrowers, particularly benefiting housing loan customers
Economic Support: Rate reduction aimed at supporting growth amid declining inflation trends
Banking Sector Response: Expected positive impact on lending rates and credit growth
Regulatory Actions
NBFC Licensing: Flipkart becomes first major Indian e-commerce company to receive NBFC license from RBI
Financial Integration: Represents merger trend between financial services and e-commerce platforms
PayMe India Penalty: RBI imposed ₹2 lakh fine for unauthorized public deposits and KYC violations
Banking Personnel Changes
Tenure Extensions: Punjab & Sind Bank MD Swarup Kumar Saha’s tenure extended till February 2027
New Appointments: Multiple banking sector appointments announced across various institutions
Important Days and Observances
Religious Festivals
Bakrid Celebrations: Eid al-Adha observed across India with heightened security arrangements
Bank Holidays: Most states observed holiday on June 7 for Bakri ID, except Gujarat, Sikkim, and Arunachal Pradesh
International Observances
World Food Safety Day: June 7 marked global awareness about food safety standards
Environmental Focus: Continued emphasis on sustainable practices and food security
Government Appointments and Extensions
Administrative Changes
Central Appointments: Multiple IAS, IPS, and other service officers appointed to key positions across ministries
Tenure Extensions: Several officers received extensions in their current postings
Department Transfers: Various officials repatriated to parent departments for promotion opportunities
Key Designations
Economic Advisory Council: S. Mahendra Dev appointed as new Chairperson of EAC-PM
Deutsche Bank India: Stefan Schaffer appointed as CEO of India Global Capability Centre
Ministry Positions: Various deputy secretary and director-level appointments across different ministries
Economic Indicators and Business News
Market Performance
Tesla Shares: Significant decline reported following Musk-Trump disagreement over government contracts
Investor Confidence: Market volatility observed in tech sector stocks
Corporate Developments
Awards and Recognition: Kumar Mangalam Birla honored with Global Leadership Award
Business Expansions: Various companies announced strategic initiatives and expansion plans
Financial Services Evolution
EPFO 3.0 Launch: Expected rollout in June 2025 with enhanced PF withdrawal facilities and ATM-style access cards
Digital Banking: Continued emphasis on online banking services and digital transaction capabilities
This comprehensive current affairs update for 08.06.2025 covers all major national and international developments relevant for competitive examinations. The information presented focuses on banking awareness, government initiatives, economic policies, and significant events that form essential components of current affairs preparation for various competitive exams in India.
