Monthly current affairs for June 2026

The Cabinet Committee on Economic Affairs has approved the construction of General Pool Residential Accommodation (GPRA) and Central Government General Pool Office Accommodation (CGGPOA) in Amaravati, Andhra Pradesh. It is to be noted that this is the first GPRA project to be established in the state.

The Competition Commission of India (CCI) has approved the acquisition of a 2.8% stake in Shriram Life Insurance Company Ltd (SLIC) by Sanlam Emerging Markets (Mauritius) Ltd (SEMM) through a preferential issue.

Additionally, the commission has approved the acquisition of a 29.06% stake in PUMA SE by Ancat Holding GmbH, an indirect wholly-owned subsidiary of ANTA, via a secondary share purchase.

The Ministry of Finance has introduced reforms to increase the participation of Foreign Portfolio Investors (FPIs) in Government Securities (G-Secs).

The measures include tax exemptions on interest income, Long Term Capital Gains (LTCG), and Short Term Capital Gains (STCG). Additionally, the reforms involve the expansion of specified securities under the Fully Accessible Route (FAR).

GRASA Millets & Food Pvt Ltd, the first food-led metabolic recovery system of India, has been conferred the ‘Rashtriya Ratna Samman 2026’.

The startup was awarded under the category of “Emerging Health Tech & Nutrition Innovation Startup of the Year” for the innovative approach of the company to metabolic health, which utilizes the science of millets and fermentation.

The Government of India (GoI) has extended the Credit Guarantee Scheme for Microfinance Institutions-2.0 (CGSMFI-2.0) until August 2026 or until guarantees amounting to ₹20,000 crore are issued, whichever is earlier.

The government has also increased the maximum loan amount cap for Large Sized Non-Banking Financial Company-Micro Finance Institutions (NBFC-MFIs)/Micro Finance Institutions (MFIs) from ₹300 crore to ₹1,000 crore, subject to an overall ceiling of 20% of Assets under Management (AUM).

The International Finance Corporation (IFC), an arm of the World Bank Group, along with global investors, has committed $105 million to Hygenco Green Energies Pvt Ltd to accelerate green hydrogen development in India.

This marks the first direct green hydrogen investment in India for the IFC, Siemens, and Fullerton. The total funding includes $50 million from the IFC, $25 million from Siemens, and up to $30 million from Fullerton.

The World Yogasana Championship 2026 was held at the EKA Arena in Ahmedabad, Gujarat. The championship was organized by World Yogasana, Yogasana Bharat, and the Indian Olympic Association (IOA). The official mascot of the event was ‘Veer the Lion’.

India dominated the medal tally by securing 114 medals (102 gold, 9 silver, and 3 bronze) with a 122-member contingent. Abhay Burman secured the first gold medal for India. Japan ranked second with 3 gold medals, followed by Argentina in the third position.

India has joined ‘Project Glasswing’, a global cybersecurity initiative led by Anthropic PBC, gaining access to ‘Claude Mythos AI’, an advanced AI model.

This model is designed to identify software vulnerabilities and strengthen cyber defences for critical infrastructure, helping participating nations enhance their cybersecurity resilience and safeguard their critical digital infrastructure.

Union Minister Hardeep Singh Puri has launched India’s first passenger Flex-Fuel Vehicle (FFV), the Maruti Suzuki Wagon R, capable of running on ethanol-petrol blends ranging from 20% ethanol (E20) to E100.

It is to be noted that Union Minister Nitin Gadkari also launched Hero MotoCorp’s first flex-fuel motorcycles, the ‘Splendor+ Flex Fuel’ and ‘HF Deluxe Flex Fuel’, in New Delhi. These initiatives are aimed at promoting ethanol-based mobility in India.

According to data by Bloomberg, India has slipped to the 7th position in global market capitalization (mcap) with a valuation of $4.84 trillion, while South Korea has ascended to the 6th position with $5.01 trillion.

The USA leads the global mcap rankings with $79.1 trillion, followed by China, Japan, and Hong Kong. Additionally, India’s share in the Morgan Stanley Capital International (MSCI) Global Standard Index has decreased from 21% in September 2024 to 12.3%.

The Ministry of Jal Shakti has signed reform-linked MoUs with Manipur and Bihar under the Jal Jeevan Mission (JJM) 2.0.

The agreements aim to shift the focus from infrastructure creation to long-term sustainability by establishing a Gram Panchayat-led, service-based, and community-centered governance framework. With this, 33 out of 34 eligible States and Union Territories have signed the agreement with the Department of Drinking Water and Sanitation (DDWS) under JJM 2.0.

The Ministry of Defence has signed a contract with the Bengaluru-based Accord Software and Systems Pvt Ltd (ASSPL) for the procurement of 20 Enhanced Capability Global Navigation Satellite System (ECGNSS) Jammers for the Indian Navy.

The contract is worth ₹449 crore and falls under the ‘Buy (Indian-Indigenously Designed, Developed and Manufactured (IDDM))’ category, which mandates at least 75% indigenous content.

The Ministry of Road Transport & Highways (MoRTH) has partnered with Rapido (Roppen Transportation Services Pvt Ltd) to promote the RahVeer Scheme.

The scheme, launched by the MoRTH in 2025, is a reward-based initiative to encourage citizens to provide timely assistance to road accident victims during the critical golden hour. Under the scheme, those providing life-saving support are assured of protection from legal or procedural concerns and are eligible for a reward of ₹25,000.

President U Min Aung Hlaing of Myanmar visited India, covering Bihar, New Delhi, and Mumbai. In Bihar, he offered prayers at the Mahabodhi Temple, meditated under the Bodhi Tree, and visited the Sujata Temple and the local Burmese Monastery.

In New Delhi, he held bilateral discussions with PM Narendra Modi at Hyderabad House, met Union Minister S Jaishankar, and President Droupadi Murmu. He also visited the Buddha Relics exposition at the Qila Rai Pithora cultural complex. He concluded his visit in Mumbai, where he interacted with business and industry leaders to strengthen commercial ties and explore investment opportunities.

The Government of India (GoI) has approved 22 new applicants under the third round of the Production Linked Incentive (PLI) Scheme for Textiles. These entities are expected to bring an investment of ₹2,339.14 crore and generate a turnover of ₹15,561.34 crore.

With this, a total of 96 companies have been selected under the third round of the scheme, with a cumulative committed investment of ₹12,822.67 crore and a projected turnover of ₹58,294.18 crore. The approved applicants operate in the Man-Made Fibre (MMF) Apparel, MMF Fabrics, and Technical Textiles segments.

The Union Cabinet has passed a resolution recognizing 10 June 2026, as PM Narendra Modi becomes the longest-serving elected Prime Minister of India. PM Modi achieved this record with 4,399 days of continuous service, surpassing the previous record held by Jawaharlal Nehru, who served for 4,398 continuous days between 1952 and 1964.

Saurabh Vijay, the CEO of the Unique Identification Authority of India (UIDAI), has assumed additional charge as the CEO of the IndiaAI Mission.

He succeeds Abhishek Singh. Sudeep Shrivastava has assumed charge as the Chief Operating Officer (COO) of the IndiaAI Mission.

The RBI has introduced two special USD-Rupee forex swap facilities to attract foreign currency inflows and support external financing.

The first facility is for fresh Foreign Currency Non-Resident Bank (FCNR (B)) deposits, allowing Authorised Dealer (AD) Category-I banks to access the RBI’s forex swap facility (available in USD only) for deposits raised in any freely convertible currency.

The second facility is for eligible External Commercial Borrowings (ECBs) with an average maturity of 3 years and above, and overseas Foreign Currency Borrowings (OFCBs) raised by AD Category-I banks with a minimum maturity of 3 years.

The Ministry of Tribal Affairs, through the Tribal Cooperative Marketing Development Federation of India (TRIFED), has launched a premium brand named “RISA - Timeless Tribal” for tribal textiles, embroideries, and handicrafts. An exclusive RISA store was inaugurated at the Rajiv Gandhi Handicrafts Bhawan in New Delhi.

The initiative aims to establish a brand identity for tribal products, strengthen market linkages for tribal artisans, facilitate design development, and promote tribal heritage in domestic and international markets.

The United Nations General Assembly (UNGA) has elected Austria, Kyrgyzstan, Portugal, Trinidad and Tobago (T&T), and Zimbabwe as non-permanent members of the 15-member United Nations Security Council (UNSC) for a 2-year term (2027-2028). This marks the first-ever term for Kyrgyzstan in the UNSC.

The new members will replace the outgoing members Denmark, Greece, Pakistan, Panama, and Somalia, whose terms end in 2026. They will join the existing non-permanent members Colombia, Bahrain, Democratic Republic of Congo (DRC), Latvia, and Liberia, who will serve until 2027.