National News
Financial Sector Updates
Post Office and Bank Schemes Interest Rates
Government keeps interest rates on small savings schemes unchanged for the July-September 2025 quarter
Public Provident Fund (PPF) remains at 7.1% for the sixth consecutive quarter
National Savings Certificate (NSC) continues at 7.7%
Sukanya Samriddhi Yojana (SSY) maintains 8.2% interest rate
Senior Citizen Savings Scheme (SCSS) stays at 8.2%
Monthly Income Scheme maintains 7.4% interest rate
Kisan Vikas Patra remains at 7.5% with maturity period of 115 months
Railway Fare Revisions
Indian Railways implements fare rationalization from July 1, 2025
First fare increase since 2020 with maximum hike of 2 paise per kilometer
Non-AC coach fares increase by 1 paisa per kilometer
AC class fares rise by 2 paise per kilometer
No fare changes for suburban trains and ordinary second-class travel up to 500 km
Monthly Season Tickets (MSTs) remain unaffected
Reservation fees and superfast surcharges remain unchanged
Banking Sector Changes
Aadhaar-based OTP verification becomes mandatory for Tatkal ticket bookings from July 1
Full implementation of OTP authentication for Tatkal bookings from July 15
GSTR-3B returns become non-editable after filing from July 1
HDFC Bank introduces 1% fee on high-value digital transactions including rent payments, wallet reloads above ₹10,000, utility bills exceeding ₹50,000, and gaming transactions over ₹10,000
ICICI Bank revises ATM, IMPS, and cash handling fees
SBI Card discontinues complimentary air accident insurance on select premium cards from July 15
Government Policies
Aadhaar verification becomes mandatory for new PAN card applications from July 1
Income tax return filing deadline extended to September 15 for Assessment Year 2025-26
RBI extends call money market trading hours from 9 AM-5 PM to 9 AM-7 PM
Economic Developments
Agriculture and GDP
India’s Agriculture GVA triples in 12 years, fueled by livestock, crops, and horticulture boom
PM Modi announces 64% of population benefiting from social security schemes
Foreign Portfolio Investment (FPI) flows cross ₹13,000 crores in one week
Corporate Sector
Adani Group becomes India’s fastest-growing brand in 2025 with 82% brand value rise
Bharti Electronics Limited (BEL) secures ₹528 crore in new orders for radars, EVMs, and jammers
Adani Green Energy sets record with over 15,000 MW of installed renewable energy capacity
International News
Geopolitical Developments
US-Syria Relations
President Trump signs executive order terminating US sanctions program on Syria
Decision allows Syria’s reintegration into international financial system
Part of Washington’s commitment to help Syria rebuild after civil war
Iran Nuclear Program
IAEA chief warns Iran could resume uranium enrichment within months despite US airstrikes
UK, France, and Germany condemn threats to IAEA Director General Rafael Grossi
European nations urge Iran to ensure safety of IAEA staff
Russia-NATO Tensions
Russian Foreign Minister Lavrov announces plans to reduce defense spending
Lavrov warns NATO’s rising military budgets could trigger alliance’s collapse
Russia questions NATO’s sustainability amid increased military expenditure
China-India Border
China describes Sino-India border dispute as complicated and time-consuming
Beijing expresses readiness to discuss border delimitation
Ongoing diplomatic efforts to resolve long-standing boundary issues
QUAD Initiative
Maritime Security Enhancement
First-ever “Quad-at-Sea” mission launched by India, Japan, US, and Australia
Initiative aims to enhance maritime security and interoperability in Indo-Pacific
Cross-embarkation of officers on US Coast Guard Cutter implemented
Mission focuses on boosting joint readiness and domain awareness
Defense and Security News
Defense Acquisition
Major Defense Deals
Defense Acquisition Council meeting scheduled for July 1 under Rajnath Singh’s leadership
Navy to acquire dozen new minesweepers worth ₹43,000 crores
Each minesweeper costs over ₹3,500 crores with multiple functions including minelaying and anti-submarine warfare
QR-SAM (Quick Reaction Surface to Air Missile) deal worth ₹30,000 crores under consideration
DRDO and Bharat Electronics/Bharat Dynamics product with 3-30 km range
Defense Cooperation
Brazil expresses interest in defense collaboration with India
Brazil shows interest in Akash Air Defence system and Garuda artillery guns
India may develop massive bunker busters following US-Iran tensions
Tata Advanced Systems showcases combat-tested Made-in-India UAV drones
Security Operations
Jammu and Kashmir
Security forces conduct joint mock drill on Jammu-Srinagar Highway
Exercise ensures safe and smooth Amarnath Yatra 2025 operations
Enhanced coordination between security agencies implemented
Sports News
International Sports
US Open Badminton 2025
Ayush Shetty wins first US Open title
Tanvi Sharma reaches final but finishes as runner-up
Tanvi Sharma defeats world’s 40th ranked player Burhova to reach final
Indian Hockey
Indian women’s hockey team ends FIH Pro League campaign with 8th consecutive loss
Team’s performance in international league disappoints hockey fraternity
Football Developments
State-level Subroto Mukherjee Football Tournament 2025 begins July 1 in Meghalaya
Tournament features Under-15 Boys, Under-17 Boys, and Under-17 Girls categories
Matches held at SSA First Ground, Mawlai Madan Heh, and SAI, STC Ground, NEHU Campus
Elite Women’s Boxing
Nitu Ghanghas and Saweety Boora lead Indian charge in tournament finals
Top Indian boxers advance to final rounds
ICC Leadership
ICC Chairman Jay Shah features in top 50 of ‘Open Minds’ Magazine
Recognition highlights Shah’s contribution to international cricket administration
Commemorative Days
National Doctors’ Day 2025
Significance
Observed annually on July 1 to honor medical professionals
Commemorates birth and death anniversary of Dr. Bidhan Chandra Roy
Dr. Roy was born on July 1, 1882, and died on July 1, 1962
He served as second Chief Minister of West Bengal and renowned physician
Theme 2025
“Behind the Mask: Who Heals the Healers?”
Focus on healthcare workers’ well-being and need for support
Recognition of doctors’ sacrifices and dedication to patient care
Historical Context
National Doctors’ Day established by Government of India in 1991
Dr. Roy played pivotal role in establishing Indian Medical Association
Contributed to development of medical colleges and hospitals in India
Science and Technology
Space Technology
Indian Space Missions
Shubhanshu Shukla becomes 634th astronaut to reach space
Axiom-4 mission featuring Indian astronaut successfully launched
Mission represents India’s growing presence in international space cooperation
Innovation Developments
Google launches revolutionary AI mode in India
Focus on artificial intelligence integration in Indian market
Represents significant technological advancement for Indian users
State News
Maharashtra
Language Policy
Maharashtra government withdraws three-language policy for schools
CM Fadnavis forms review committee to reassess language policy
Decision taken before upcoming assembly session
Odisha
Safety Measures
Odisha government orders high-level investigation into Puri stampede
Comprehensive inquiry into crowd management failures
Focus on preventing future incidents during religious gatherings
General
Educational Policies
UGC issues notices to 89 institutions including IITs, IIMs, and AMU
Notice concerns anti-ragging norms implementation
Emphasis on student safety and campus security measures
Natural Disasters and Weather
Weather Forecast
IMD predicts heavy rainfall in multiple states until July 5
Several regions placed under weather alert
Monsoon activity intensifies across different parts of India
Seismic Activity
5.3 magnitude earthquake hits Balochistan province, Pakistan
Tremors felt in surrounding regions
No immediate reports of casualties or damage
Appointments and Recognitions
International Recognition
Nita Ambani appointed as member of International Olympic Committee
Significant recognition for Indian sports administration
Represents India’s growing influence in global sports governance
Important Schemes and Initiatives
Kailash Mansarovar Yatra
Sacred pilgrimage resumes after 5-year gap
Significant religious and cultural milestone
Enhanced safety and security arrangements implemented
Digital Governance
Government launches ‘GoIStats’ app for citizens
Provides easy access to official data and statistics
Boosts transparency and digital access to government information
