National Affairs and Government Updates
Banking and Financial Sector Developments
RBI Monetary Policy Update: The Reserve Bank of India maintained its aggressive monetary stance with a significant 50 basis points repo rate cut, bringing the rate down from previous levels. The central bank also announced a 100 basis points reduction in Cash Reserve Ratio (CRR) to be implemented in phases starting September 2025.
Banking Sector Performance: The Nifty Bank index showed positive momentum with a 1.73% weekly gain and 5.68% monthly increase, reflecting strong sector fundamentals. Public Sector Undertaking banks outperformed private banks with 26% year-on-year profit growth compared to 8% for private banks.
Co-lending Model Reforms: Banks have urged RBI to retain the existing co-lending model (CLM-2) alongside the proposed CLM-1, as approximately 80% of current co-lending operations use the CLM-2 framework. The Indian Banks’ Association has made suggestions to maintain both models for greater flexibility.
Credit Growth Projections: Boston Consulting Group report revealed moderate credit growth expectations for the Indian banking sector, with elevated Credit-Deposit ratios intensifying competition for low-cost deposits. Small Finance Banks faced declining profitability due to rising credit costs.
Government Appointments and Administrative Changes
Defense Appointment: Lieutenant General Rajiv Ghai has been appointed as Deputy Chief of Army Staff (Strategy), who previously handled Pakistan ceasefire negotiations during Operation Sindoor.
Technology Transfer Initiative: Vehicles Research & Development Establishment (VRDE) under DRDO transferred technologies of 9 systems to 10 industries, strengthening India’s defense manufacturing capabilities.
Railway Development: Hilton Metal Forging successfully manufactured Railway Forged Wagon Wheelset, which received approval from RITES for railway applications.
Infrastructure and Development Projects
Electronic Waste Management: Delhi government announced establishment of India’s first electronic waste recycling eco park at Holambi Kalan, North Delhi, aligning with climate goals and Sustainable Development Goals.
Skill Development Initiative: Union Cabinet approved a ₹60,000 crore scheme for upgrading 1,000 Government ITIs and establishing five National Centres of Excellence for Skilling. The initiative aims to skill 20 lakh youth over five years and train 50,000 instructors.
Transportation Innovation: Uttar Pradesh launched India’s first jungle safari train with Vistadome coach, offering panoramic views of forests and wildlife.
Corporate and Business Developments
Insurance Milestone: Life Insurance Corporation of India entered Guinness World Records for selling the highest number of life insurance policies in a single day.
Dividend Distribution: State Bank of India paid a dividend of ₹8,076.84 crore to the Government of India for financial year 2024-25.
Block Deal Activities: OrbiMed Asia IV Mauritius initiated a block deal to sell 2.27% stake in Marksans Pharma, valued at approximately ₹256.8 crore. South Asia Growth Fund sold 5.5% equity stake in Premier Energies for ₹2,629 crore.
International Affairs and Global Events
Diplomatic Relations and Agreements
India-US Trade Negotiations: India and United States concluded advanced negotiations on the Bilateral Trade Agreement, with productive discussions covering market access, digital trade, and technical barriers. An interim trade pact is expected by end of June 2025 with broader agreement targeted for fall 2025.
East Asia Summit Participation: Secretary (East) P. Kumaran represented India at East Asia Summit Senior Officials’ Meeting and ASEAN Regional Forum in Penang, Malaysia. India highlighted strong convergence between Indo-Pacific Oceans’ Initiative and ASEAN Outlook on Indo-Pacific.
ASEAN Regional Cooperation: India expressed grave concerns about state-sponsored terrorism in light of Pahalgam terror attack, outlining that Operation Sindoor was measured, non-escalatory, and proportionate.
Global Political Developments
US Immigration Policy: Protests spread across major US cities including Los Angeles, New York, and Boston against immigration raids, with hundreds of arrests reported. President Trump deployed National Guard forces and threatened heavy force against protesters.
Middle East Tensions: Officials in Gaza accused Israeli forces of killing at least 31 Palestinians at a food distribution site, with 200 wounded in attacks involving tanks and drones. Britain, Norway, Canada, Australia, and New Zealand imposed sanctions on Israeli Finance Minister Bezalel Smotrich and National Security Minister Itamar Ben-Gvir.
European Union Relations: French President Emmanuel Macron announced plans to push for EU regulation banning social media for children under 15 following a fatal school stabbing.
Economic and Trade Updates
Global Technology Partnerships: Nvidia and Perplexity partnered with European firms to boost local AI models, working with over a dozen AI companies in Europe and Middle East. Oracle beat quarterly revenue estimates driven by growing cloud demand from AI-deploying companies.
International Investment: OpenAI discussed raising funds from Saudi Arabia’s PIF, Indian conglomerate Reliance Industries, and UAE’s MGX for its $40 billion financing round.
Sports and Entertainment News
Cricket Updates
World Test Championship Final: South Africa faced Australia in the WTC Final at Lord’s, with bowling dominating as 14 wickets fell for 255 runs on Day 1. Kagiso Rabada took 5-51 while Mitchell Starc, Josh Hazlewood, and Pat Cummins restricted South Africa to 43-4.
India Test Squad: Former captain Sourav Ganguly criticized Shreyas Iyer’s omission from India’s Test squad for England tour despite scoring 604 runs in IPL 2025 for Punjab Kings. India’s five-Test series against England begins June 20 in Leeds.
FIH Pro League: India faced Argentina in FIH Pro League hockey match, continuing their international hockey campaign.
Other Sports Developments
Football Updates: Brazil secured their 2026 FIFA World Cup spot with a 1-0 victory over Paraguay, with Vinicius Junior scoring the decisive goal under new coach Carlo Ancelotti. India’s football team suffered a disappointing 1-0 loss to Hong Kong in AFC Asian Cup qualifying, intensifying criticism of coach Manolo Marquez.
Shooting Championship: Manu Bhaker finished sixth in 25m pistol event at Munich Shooting World Cup, while Elavenil won bronze.
Skateboarding Competition: WST Street World Cup Rome 2025 began with Japan’s Matsumoto Ibuki topping women’s open qualifying with a score of 63.51.
Tennis and Other Sports
Tennis Auction: Rafael Nadal’s racquet from his 2017 French Open triumph fetched a record price at auction.
Athletics: Race walker Priyanka Goswami secured her first win of the season.
Technology and Science Updates
Artificial Intelligence Developments
Meta’s AI Breakthrough: Meta introduced V-JEPA 2, a new world model enabling robots to understand physical world and predict responses to actions. The model helps AI agents think before acting and improves robot interaction with unfamiliar objects.
Google AI Leadership: Google appointed insider Kavukcuoglu to lead AI-powered product development as artificial intelligence enters mainstream adoption phase.
AI Business Partnerships: CoreWeave emerged as winner in Google’s partnership with OpenAI, highlighting growing demand for computing resources in AI industry.
Space and Scientific Research
Solar Exploration: European Space Agency’s Solar Orbiter spacecraft captured first-ever images of sun’s poles, revealing magnetic field chaos during peak solar activity. The spacecraft observed both poles from 40 million miles away during maximum solar cycle.
Quantum Computing: Nvidia CEO Jensen Huang stated quantum computing has reached an inflection point, announcing plans for first AI cloud platform for industrial applications in Germany.
Astronomical Discovery: Scientists detected 13-billion-year-old signal from Big Bang using ground-based telescopes, offering new insights into Cosmic Dawn.
Technology Business Updates
Semiconductor Industry: Huawei launched Pura 80 smartphone series as part of its comeback strategy in China’s premium smartphone market following US sanctions.
Gaming Sector: Nintendo Switch 2 broke records as company’s fastest-selling console, with 152 million Switch devices sold since 2017 launch.
Energy Partnerships: Talen Energy and Amazon signed expanded nuclear power deal to supply up to 1,920 megawatts from Pennsylvania’s Susquehanna plant to AWS data centers.
Economic and Market Updates
Stock Market Performance
Market Indices: BSE Sensex closed at 82,515.14 points, gaining 123.42 points (0.15%), while Nifty 50 ended at 25,141.40 points, up 37.15 points (0.15%).
Top Gainers: HCL Technologies led gains with 3.19% increase to ₹1,721.30, followed by Infosys with 2.01% rise to ₹1,628.00. Tech Mahindra gained 1.68% while Wipro rose 1.62%.
Sectoral Performance: IT sector outperformed with gains of 0.5-1.2%, while PSU Banks declined 0.5-1%. Power Grid and Shriram Finance were among top losers.
Currency and Commodity Markets
Gold Prices: Gold prices edged higher due to uncertainty surrounding US-China trade agreement finalization, with spot gold rising 0.2% to $3,328.89 per ounce.
Banking Stocks: Nifty Bank index showed positive momentum with 1.71% weekly gain and 5.66% monthly increase. HDFC Bank, ICICI Bank faced selling pressure while Axis Bank gained 1.06%.
Important Dates and Observances
International Observances
World Accreditation Day 2025: Quality Council of India celebrated the day at India Habitat Centre, New Delhi.
Ministry Celebrations: Ministry of Minority Affairs commemorated 11 years of governance and welfare reforms under Modi Government.
Upcoming Events
Ocean Conference: Third UN Ocean Conference commenced with France and Brazil launching Blue Nationally Determined Contributions Challenge.
G7 Summit Preparations: Canada prepares for G7 meeting with controversial invitations to India and Saudi Arabia despite ongoing diplomatic tensions.
Competitive Exam Focus Points
Banking Awareness
RBI’s 50 basis points repo rate cut and 100 basis points CRR reduction
Co-lending model discussions between banks and RBI
Banking sector profit growth differentials between PSU and private banks
Credit-Deposit ratio challenges in banking sector
Current Affairs for Government Exams
Lieutenant General Rajiv Ghai’s appointment as Deputy Chief of Army Staff
India’s first e-waste recycling eco park in Delhi
₹60,000 crore ITI upgradation scheme approval
India-US trade agreement negotiations progress
International Relations
East Asia Summit and ASEAN Regional Forum participation
India-US Bilateral Trade Agreement discussions
Global sanctions on Israeli ministers
US immigration policy protests
Sports Current Affairs
WTC Final between South Africa and Australia
India’s performance in various international tournaments
Brazil’s FIFA World Cup 2026 qualification
Shreyas Iyer’s Test squad omission controversy
This comprehensive current affairs update covers essential news from 11.06.2025 for competitive exam preparation. Regular reading of such updates helps candidates stay informed about national and international developments crucial for banking, SSC, UPSC, and other government examinations.
