National News
India Extends Support After Venezuela Earthquakes
India has extended support to Venezuela after two powerful earthquakes of magnitudes 7.2 and 7.5 struck on June 24, 2026, near Montalbán and Yumare west of Caracas. The disaster caused widespread destruction across western regions and the capital area, killing at least 32 people and injuring more than 700. Several buildings collapsed, and critical infrastructure suffered heavy damage. Acting President Delcy Rodríguez declared a state of emergency on June 25 to speed up rescue operations, mobilize resources, and assist affected communities. Prime Minister Narendra Modi expressed deep sorrow, conveyed condolences, and assured India’s readiness to provide humanitarian assistance. Emergency response teams continue relief and recovery efforts while authorities assess full damage. The tragedy highlights international cooperation in disaster response and India’s commitment to global humanitarian support during major natural calamities affecting friendly nations in crisis situations.
PM Pushes Nationwide e-Zero FIR Cyber System
Prime Minister Narendra Modi has directed states to accelerate implementation of the e-Zero FIR system to combat cyber financial fraud more effectively. Announced during the 52nd PRAGATI meeting on June 24, 2026, the system is linked to the Indian Cyber Crime Coordination Centre (I4C) and aims to speed up FIR registration and investigation. It automatically converts verified cyber fraud complaints above ₹10 lakh into Zero FIRs, eliminating jurisdictional delays. Complaints can be filed through the National Cybercrime Reporting Portal or helpline 1930. Once registered, cases are quickly transferred to relevant police stations for investigation and fund recovery during the critical “golden hour.” The initiative improves coordination between agencies, enhances response speed, and strengthens cybercrime enforcement. Currently implemented in a few states, including Delhi and Assam, the system is being expanded nationwide to improve digital security and financial fraud protection for citizens across India.
India Targets 100 GW Pumped Storage Capacity
India plans to develop 100 GW of pumped storage hydropower capacity by FY2035–36 to support its renewable energy expansion. The roadmap, prepared by the Central Electricity Authority under the Ministry of Power, focuses on strengthening energy storage systems for grid stability. Pumped storage works like a natural battery, storing electricity by pumping water to higher reservoirs and generating power during peak demand. India currently has about 7.2 GW operational capacity and 11.6 GW under construction, with a potential of nearly 288 GW. The system is essential to balance intermittent solar and wind power. Government funding and policy support aim to accelerate projects and enhance energy security. The initiative aligns with India’s goal of 500 GW non-fossil energy capacity by 2030. Pumped storage is expected to play a critical role in ensuring reliable, clean, and flexible electricity supply for future demand.
India Pharmacopoeia Sets Global Blood Standards
India has released the Indian Pharmacopoeia 2026, becoming the first country to establish dedicated global standards for blood and blood components. Released in New Delhi by J. P. Nadda, the 10th edition introduces 20 new and 2 revised monographs covering blood quality, safety, and transfusion practices. Developed by the Indian Pharmacopoeia Commission, the standards aim to improve blood banking systems, reduce transfusion-related infections, and enhance patient safety. The guidelines align with national and international health protocols. They define quality, purity, strength, and testing standards for blood products. This landmark development strengthens India’s healthcare regulatory framework and positions it as a global leader in transfusion safety. The initiative ensures better monitoring, consistency, and reliability in blood services across hospitals and laboratories. It also contributes to reducing risks such as HIV and hepatitis transmission through improved screening and quality control mechanisms.
India Launches Index Of Services Production
India will launch the Index of Services Production in July 2026 to measure monthly performance of the services sector. Developed by the Ministry of Statistics and Programme Implementation, the ISP will track short-term changes in output across key service industries using 2024–25 as the base year. It will function similarly to the Index of Industrial Production but focus on services such as trade, transport, banking, insurance, telecom, IT, hospitality, and professional services. The index will use GST data, administrative records, and surveys to compile results. It will exclude government services and some informal sectors initially. The ISP aims to improve economic tracking, policy decisions, and forecasting by providing high-frequency data. A trial version will be released before full implementation. The initiative strengthens India’s statistical system and provides better insights into the rapidly growing services-driven economy.
State News
UP Kanya Sumangala Yojana Empowers Girls Financially
The Uttar Pradesh government’s Mukhyamantri Kanya Sumangala Yojana provides financial assistance to girl children from birth to higher education. Launched in 2019, the scheme offers ₹25,000 in six instalments at different stages including birth, vaccination, school admissions, and higher education. It aims to improve the sex ratio, promote girls’ education, and reduce gender discrimination. Eligible families must be residents of Uttar Pradesh with annual income below ₹3 lakh and a maximum of two children. The assistance is directly transferred to beneficiaries’ bank accounts linked with Aadhaar. Applicants must register online through the official portal and submit required documents such as birth certificate, income proof, and school records. The scheme supports women empowerment and encourages families to invest in girls’ education and future development.
International News
Bangladesh Joins Global Big Cat Alliance Efforts
Bangladesh has joined the International Big Cat Alliance as its 27th member, strengthening global efforts to conserve endangered big cat species. The alliance, launched by India in 2023 and headquartered in New Delhi, focuses on protecting tiger, lion, leopard, snow leopard, cheetah, jaguar, and puma populations. Bangladesh’s inclusion is significant due to its shared Sundarbans ecosystem with India, home to the Bengal tiger and a critical biodiversity hotspot. The membership enhances transboundary conservation cooperation, especially for habitat protection and anti-poaching efforts. The IBCA promotes research, capacity building, and international collaboration to safeguard ecosystems and wildlife. Bangladesh approved its participation in May 2026 following diplomatic discussions. The initiative reflects growing global recognition of biodiversity protection challenges. It strengthens regional coordination to preserve endangered species and supports long-term ecological balance in one of the world’s most sensitive mangrove and wildlife regions.
NASA Plans Swift Boost Robotic Rescue Mission
NASA is preparing the Swift Boost mission to extend the life of the Neil Gehrels Swift Observatory, which is losing altitude due to atmospheric drag caused by increased solar activity. Scheduled for launch on June 27, 2026, the mission will deploy a robotic spacecraft called LINK, developed by Katalyst Space Technologies, to raise the telescope’s orbit. The mission will use a Pegasus XL rocket launched from the Stargazer aircraft at Kwajalein Atoll. Swift, operational since 2004, studies gamma-ray bursts and other cosmic events but risks re-entry by late 2026 without intervention. The LINK spacecraft will use autonomous navigation, robotic arms, and thrusters to dock and boost the observatory. If successful, the mission could extend Swift’s life by several years and demonstrate advanced satellite servicing technology. It represents a major step toward sustainable space operations and future robotic maintenance of satellites in orbit.
Banking & Economy News
RBI Updates Scale-Based Regulation Framework NBFCs
The Reserve Bank of India (RBI) has revised its Scale-Based Regulation framework for Non-Banking Financial Companies to strengthen financial stability and improve oversight. The updated rules classify NBFCs into Base, Middle, Upper, and Top layers based on size, risk, and complexity. The revised framework shortens the review cycle for identifying Upper Layer NBFCs from five years to three years, ensuring quicker regulatory response. It also brings all bank-promoted NBFCs under Upper Layer norms regardless of asset size. Government-owned NBFCs must now follow uniform large exposure limits similar to private players. Infrastructure Finance Companies have been granted higher lending flexibility. These changes aim to prevent regulatory arbitrage, strengthen governance, and enhance risk management. The reforms support India’s growing financial ecosystem by ensuring consistent supervision, reducing systemic risks, and improving transparency across NBFC operations while maintaining proportional regulation for smaller entities.
RBI Tightens Scale-Based Regulation for NBFC Stability
Reserve Bank of India has strengthened its Scale-Based Regulation framework for Non-Banking Financial Companies to improve financial stability, risk management, and regulatory oversight. The framework classifies NBFCs into four layers—Base, Middle, Upper, and Top—based on size, complexity, and risk profile, ensuring stricter rules for systemically important institutions while allowing lighter norms for smaller entities. Under the revised norms, the threshold for identifying Upper Layer NBFCs will now be reviewed every three years instead of five, enabling quicker regulatory response to financial risks and market changes. A major reform brings all bank-promoted NBFCs under Upper Layer supervision regardless of asset size, while also requiring bank group NBFCs to follow bank-like regulations for similar activities to prevent regulatory arbitrage.
RBI Announces Digital Fraud Compensation Framework
The Reserve Bank of India has introduced a new compensation framework for victims of small-value digital banking frauds, effective from January 1, 2027. It covers unauthorized transactions in UPI, internet banking, mobile banking, debit, and credit cards. Customers can receive compensation of up to ₹25,000 or 85% of losses up to ₹50,000, depending on conditions. To qualify, victims must report fraud to their bank and the cybercrime helpline or portal within five days. The framework introduces shared liability between RBI and banks and strengthens zero-liability protection in cases of bank negligence. It also mandates 24×7 fraud reporting systems, faster complaint resolution within 45 days, and “shadow reversal” for credit card disputes. The initiative aims to enhance trust in digital payments, improve accountability, and protect consumers in India’s rapidly expanding cashless economy, while encouraging stronger cybersecurity measures across the banking sector.
BHIM App Transaction Volumes Triple Growth
The BHIM payments app has recorded strong growth in digital transactions, reflecting rising adoption of UPI-based payments in India. According to NPCI BHIM Services Limited, the app processed 244 million transactions in May 2026, compared to 79.64 million in June 2025, marking more than 206% growth in less than a year. The total transaction value reached approximately ₹26,952 crore in May 2026. BHIM, developed by the National Payments Corporation of India, enables instant money transfers, QR payments, and multi-bank account linking through UPI. The surge highlights increasing trust in digital payments and growing cashless adoption across urban and rural areas. It also reflects India’s expanding fintech ecosystem and government push for digital financial inclusion. BHIM continues to play a key role in supporting everyday transactions, small merchant payments, and strengthening India’s overall digital payment infrastructure.
S&P Projects India GDP Growth Slows to 6.6% FY27
S&P Global Ratings has forecast India’s GDP growth to moderate to 6.6% in FY27, down from 7.7% in FY26, citing energy stress and a below-normal monsoon as key risks. The projection is part of its Asia-Pacific Economic Outlook report for Q3 2026, which expects growth to recover slightly to 7.2% in FY28 and 7.0% in FY29. The agency highlighted ongoing global energy uncertainties, including volatile crude oil prices and disruptions in West Asia, as well as a weaker southwest monsoon forecast of around 90% of the Long Period Average by the India Meteorological Department. S&P expects inflation to rise to about 5.1% in FY27 from 2% in FY26, driven by higher fuel, transport, and food costs. This could prompt the Reserve Bank of India to consider a 25-basis-point repo rate hike in FY27.
Business & Corporate News
ASICS And RBTA Partner Develop Indian Tennis Talent
ASICS India has partnered with the Rohan Bopanna Tennis Academy to strengthen India’s tennis ecosystem and nurture young athletes. The collaboration combines ASICS sports technology with RBTA’s structured training programs, offering advanced equipment, performance education, and elite exposure. The initiative focuses on improving athlete performance, expanding grassroots participation, and building a sustainable talent pipeline. Players will benefit from workshops, masterclasses, and competitive opportunities, helping them transition into professional tennis. RBTA currently trains 29 high-performance athletes, with several selected for India’s 2026 Asian Games squad, including Vaishnavi Adkar, Prarthana Thombare, and Dhakshineswar Suresh. The partnership reflects Rohan Bopanna’s vision of creating long-term development pathways for Indian tennis. Initially based in Bengaluru, the program is expected to expand nationwide. This collaboration aims to bridge infrastructure gaps and strengthen India’s presence in international tennis through structured athlete development and performance-driven support systems.
Hurun India 500 Shows Corporate Wealth Concentration
The Hurun India 500 Report 2026 highlights strong concentration of corporate wealth in India, with the top 10 companies accounting for 27% of total valuation, worth ₹86 trillion. Released in partnership with Axis Bank and Burgundy Private, the report ranks India’s most valuable companies based on market capitalization. Reliance Industries leads the list, followed by HDFC Bank, Bharti Airtel, ICICI Bank, and Tata Consultancy Services. Financial services dominate the rankings, with strong performances from ICICI Bank, Bajaj Finance, and the National Stock Exchange. However, IT giants like TCS and Infosys have seen valuation declines, reflecting shifting investor focus toward domestic growth sectors. Bharti Airtel emerged as a major gainer, showing strong telecom growth. The report underscores changing economic trends, highlighting financialization, infrastructure growth, and capital market expansion as key drivers of India’s corporate value creation over the past decade.
Cyber Security News
Boss Scam Cyber Fraud Advisory Issued By I4C
The Indian Cyber Crime Coordination Centre (I4C) has issued an advisory warning organizations about the rising “Boss Scam,” a cyber fraud where attackers impersonate CEOs or senior executives to trick employees into transferring funds or sharing sensitive data. The scam often begins with fake messages or emails posing as regulatory bodies like the RBI, followed by malicious file attachments that install malware. Once infected, attackers can hijack systems, monitor communication, and even take over WhatsApp Web accounts to send fake instructions. Employees are misled into urgent financial transfers believing they are following legitimate executive orders. Unlike traditional phishing, this attack targets specific individuals and relies on psychological manipulation and trust. I4C advises organizations to verify payment requests independently, avoid unknown downloads, monitor devices, and implement strict approval systems. The advisory highlights growing cyber risks driven by advanced social engineering and digital communication platforms.
Awards & Honours News
Two Indian Women Win Green Oscars 2026 Conservation Awards
India earned global recognition as two women conservationists, Parveen Shaikh and Dr. Barkha Subba, received the 2026 Whitley Awards, popularly known as the “Green Oscars,” presented at the Royal Geographical Society in London by Princess Anne. The awards, given by the Whitley Fund for Nature, honour grassroots environmental leaders working to protect biodiversity and restore ecosystems, along with funding support of £50,000 each for conservation projects. Parveen Shaikh, associated with the Bombay Natural History Society, was recognised for conserving the Indian Skimmer along the Chambal River through her “Guardians of the Skimmer” initiative, involving community participation and habitat protection. Dr. Barkha Subba, working with the Federation of Societies for Environmental Protection in Darjeeling, was honoured for conserving the Himalayan Salamander through habitat restoration and scientific monitoring.
Important Days News
World Vitiligo Day Promotes Awareness Inclusion
World Vitiligo Day was observed on June 25, 2026, to raise awareness about vitiligo and promote inclusion for people affected by the condition. The theme “From Stigma to Strength” and slogan “Many Shades, One Voice” emphasized acceptance, empowerment, and reducing discrimination. Vitiligo is a long-term skin condition caused by loss of melanin, resulting in white patches on the skin. It is not contagious and can affect people of all ages. The observance highlights emotional and social impacts such as reduced confidence and stigma. It also promotes early diagnosis and mental health awareness. Causes may include autoimmune factors, genetics, or environmental triggers. The day encourages society to embrace diversity and support affected individuals. Awareness campaigns aim to correct myths and build inclusive communities where appearance does not define identity, ensuring dignity and equality for people living with vitiligo worldwide.
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