National News Updates
Economic and Banking Sector
RBI Monetary Policy Highlights: The Reserve Bank of India implemented a significant 50 basis points repo rate cut, bringing it down to 5.50% from 6.00%, marking the largest single rate reduction in recent years. The central bank also reduced the Cash Reserve Ratio (CRR) by 100 basis points to enhance liquidity transmission in the banking system.
Inflation Trends: India’s retail inflation dropped to a 75-month low of 2.82% in May 2025, down from 3.16% in April 2025. Food inflation remained subdued at 0.99%, marking the lowest level since October 2021. Early indicators suggest June inflation may further decline to around 2.0-2.1%.
GDP Growth Outlook: The Indian economy recorded a robust 7.4% growth in Q4 FY25, with full-year GDP growth at 6.5%. The RBI projects GDP growth for FY26 at 6.5%, with quarterly projections of 6.5% for Q1, 6.7% for Q2, 6.6% for Q3, and 6.3% for Q4.
Employment Data: India’s unemployment rate stood at 5.1% in April 2025 according to the first monthly Periodic Labour Force Survey (PLFS). The Labour Force Participation Rate (LFPR) was recorded at 55.6% for individuals aged 15 years and above.
Foreign Exchange Reserves: India’s forex reserves increased by $5.17 billion to reach $696.66 billion for the week ended June 6, 2025, driven primarily by gains in foreign currency assets and gold reserves.
Government Initiatives and Policy Updates
Census 2025 Announcement: Union Home Minister Amit Shah announced that the official gazette notification for conducting the Census 2025 will be published on June 16, 2025. This will be the 16th Census since independence and the first to be conducted digitally using mobile applications.
Prime Minister’s International Visits: Prime Minister Narendra Modi is currently on a three-nation tour visiting Cyprus (June 15-16), Canada for the G-7 Summit (June 16-17), and Croatia (June 18). This marks the first visit of an Indian Prime Minister to Cyprus in over two decades and the first-ever visit to Croatia.
Budget 2025 Reforms: The Union Budget 2025-26 introduced significant tax reforms including zero income tax for incomes up to ₹12 lakh under the new tax regime, increased standard deduction to ₹75,000, and enhanced focus on agriculture and research development with ₹20,000 crore allocation for R&D initiatives.
Weather and Natural Disasters
Monsoon Progress: The India Meteorological Department (IMD) issued red alerts for several districts in Kerala including Kozhikode, Wayanad, Malappuram, Kannur, Kasaragod, Ernakulam, Idukki, and Thrissur. Educational institutions in these districts were closed on June 16 due to heavy rainfall warnings.
Maharashtra Weather Alert: Orange alerts were issued for ghat areas of western Maharashtra including Pune, Kolhapur, and Satara, with red alerts for Raigad district. The cyclonic circulation over Maharashtra is expected to continue rainfall activity until June 18.
International News Updates
Middle East Tensions
Israel-Iran Conflict Escalation: The Israel-Iran conflict intensified with Israel launching fresh strikes on Iranian weapon production sites in central Iran. Iran’s armed forces warned Israeli residents to stay away from vital areas as missile exchanges continued between the two nations.
India’s Advisory: The Indian Embassy in Israel issued safety advisories for Indian nationals including caregivers, workers, students, businessmen, and tourists, ensuring necessary measures for their safety and well-being.
Flight Disruptions: Israeli airline EL AL extended flight suspensions until June 19 due to ongoing strikes, while Israel extended school closures until 8 PM on June 17 local time.
Global Economic Developments
International Monetary Fund Projections: The IMF projected 3.2% global growth in 2024 and 3.3% in 2025, with manufacturing sector slowdown due to supply chain disruptions while services sector remained resilient.
G20 Developments: South Africa is preparing to host the G20 Summit in November 2025, with the countdown showing 159 days remaining. The G20 comprises 19 countries representing 85% of global GDP and 75% of international trade.
Space and Technology
Axiom-4 Mission Update: The much-awaited Axiom-4 mission carrying Indian astronaut Shubhanshu Shukla to the International Space Station has been rescheduled for June 19, 2025, after resolving technical issues including liquid oxygen leak in the Falcon 9 launch vehicle.
India Space Congress: The India Space Congress is scheduled to begin on June 25 in New Delhi, bringing together global leaders from 40 countries to discuss India’s expanding space economy projected to reach $44 billion by 2033.
Sports Updates
Cricket
ICC T20 World Cup Americas Region Final: Three matches of the ICC Men’s T20 World Cup Americas Region Final 2025 are scheduled for June 16 at the Maple Leaf North-West Ground in King City, Canada. Canada vs Cayman Islands (2:30 PM) and Bahamas vs Bermuda (7:30 PM) are the key fixtures.
Maharashtra Premier League: Three matches are scheduled for June 16 at the Maharashtra Cricket Association Stadium in Pune. Ratnagiri Jets vs Raigad Royals (9:30 AM), Kolhapur Tuskers vs Eagle Nashik Titans (2:00 PM), and Puneri Bappa vs Satara Warriors (7:00 PM).
Football
Premier League Transfer Window: The summer transfer window runs from June 16 until September 1, 2025. Manchester United is expected to undergo significant changes with major player movements across all 20 Premier League clubs.
Copa America 2025: The CONMEBOL Copa America Femenina 2025 is set to begin on July 12 in Ecuador, with 10 South American national teams competing for the prestigious title.
Olympics Preparation
Olympics 2036 Bid: India is actively preparing for the 2036 Olympics bid with plans to establish training centers for 10 sports. The Indian Olympic Association submitted a formal Letter of Intent to the International Olympic Committee in October 2024.
Stock Market Updates
Market Performance
Nifty 50 Performance: The Nifty 50 index declined by 169.6 points to close at 24,718.6, down 0.68%, with broad-based weakness across key sectors including banking, finance, and automobiles.
Bank Nifty Decline: The Bank Nifty index fell 555.2 points to close at 55,527.35, down 0.99%, with all 12 constituents ending in the red, indicating complete lack of confidence among banking sector investors.
Sensex Movement: The Sensex index declined by 573.38 points or 0.7% to close at 81,118.6, with 25 out of 29 constituents ending in the red, reflecting overwhelming bearish sentiment.
Sectoral Impact: Financial services, banking, and technology sectors witnessed significant selling pressure, with geopolitical concerns and FII selling contributing to the market decline.
Banking and Financial Services
Banking Holidays
Weekly Schedule: Banks across India will remain closed only on Sunday, June 22, 2025, as part of regular weekly holidays. Banks will remain open on Saturday, June 21, as it falls on the third Saturday of the month.
Operating Hours: Most public sector banks operate from 10 AM to 4 PM, while private banks like ICICI, HDFC, and Axis Bank function from 9:30 AM to 4:30 PM, with some variations depending on the branch location.
Digital Services: Online banking services including internet banking, mobile banking, IMPS, UPI, NEFT, ATM services, and digital transactions continue to operate during bank holidays.
Upcoming Banking Holidays
June 27 (Friday): Ratha Yatra/Kang – Banks will remain closed in Odisha and Manipur
June 30 (Monday): Remna Ni – Banks will remain closed in Mizoram
Technology and Innovation
Emerging Technologies 2025
Generative AI Dominance: Generative AI continues to reshape industries with 71% of leaders preferring candidates with Gen AI skills over those without, highlighting the technology’s growing importance in the job market.
Quantum Computing Advances: Quantum computing applications are expanding in cryptography and drug discovery, with the technology poised to solve complex problems that traditional computers cannot handle.
5G Network Expansion: 5G technology offers speeds up to 10 times faster than 4G, with peak data rates reaching 20 gigabits per second, facilitating IoT, augmented reality, and autonomous vehicle development.
Space Technology
Chandrayaan-4 Mission: India’s Chandrayaan-4 lunar sample return mission is in the design phase with expected launch around 2027. The mission aims to return up to 3 kg of lunar regolith from near the Shiv Shakti point.
NASA Mars Mission: NASA’s EscaPADE mission to Mars is rescheduled for launch in the fourth quarter of fiscal year 2025, with the mission planned to study Mars’ magnetosphere and atmosphere interaction with solar wind.
Competitive Exam Preparation Points
Key Economic Indicators
Inflation Target: RBI’s medium-term inflation target remains at 4% with a band of +/- 2%
Current Repo Rate: 5.50% (after 50 bps cut in June 2025)
Current CRR: Reduced by 100 bps to enhance liquidity transmission
GDP Growth Projection: 6.5% for FY26 with quarterly variations
Unemployment Rate: 5.1% as per April 2025 monthly PLFS data
Important Dates and Events
Census 2025: Official gazette notification on June 16, 2025
G-7 Summit: June 16-17, 2025, in Kananaskis, Canada
India Space Congress: June 25, 2025, in New Delhi
Axiom-4 Mission: Rescheduled for June 19, 2025
Copa America 2025: Begins July 12, 2025, in Ecuador
International Organizations
G20 Member Countries: 19 countries plus African Union and European Union
G20 Economic Significance: 85% of global GDP, 75% of international trade
Next G20 Summit: November 2025 in Johannesburg, South Africa
IMF Global Growth Projection: 3.2% for 2024, 3.3% for 2025
This comprehensive current affairs update covers all major national and international developments relevant for competitive examinations, providing detailed information across various sectors and domains for effective preparation.
