Topic: Indian Economy/Financial Market
1. Cement output grew by over 8% in April-May, reaching nearly 79 million tonnes.
- This was likely driven by increased government infrastructure spending and pre-monsoon construction activity.
- Steel production rose by 6.73%, totaling 25.46 million tonnes.
- The increase was supported by strong demand from the construction and cement sectors.
- Major steel producers produced 13.39 million tonnes of finished steel.
- This accounted for 52.61% of India’s total finished steel output.
- Coal production reached 168.03 million tonnes during April-May.
- It exceeded the target by over 7% and was 3.29% higher than the same period last year.
- Railways earned more from freight due to higher volumes of coal, cement, and steel transport.
- Coal alone contributed 51% to freight revenue.
- Coal handling at major ports increased by 12% during the same period.
- Overall power generation declined by around 1.6%.
- This was mainly due to a drop of more than 7% in thermal power output.
- The fall in thermal power generation was likely due to unseasonal rains and cooler weather, which reduced electricity demand.
- Renewable energy production grew by about 18.5%, while nuclear power output increased by roughly 13.5%.
- Fertilizer production dropped by over 10%.
- This was because nitrogen and urea output declined, and phosphate production was not enough to balance the loss.
- The infrastructure sector showed mixed results in the first two months of the fiscal year, according to the Statistics Ministry report.
- Some sectors grew, especially those linked to construction, while others like power and fertilizer declined.
Topic: Banking System
2. Ashok Vaswani, MD & CEO of Kotak Mahindra Bank, was the highest paid bank CEO in FY25.
Topic: Awards and Prizes
3. State Bank of India has been named the World’s Best Consumer Bank for 2025 by Global Finance magazine.
- The award was given based on thorough research and evaluation by Global Finance.
- This process included feedback from corporate finance leaders, analysts, and banking professionals worldwide.
- SBI Chairman CS Setty said that improving customer experience is a major focus for the bank’s growth.
- The bank is simplifying onboarding processes. It is also introducing voice banking in regional languages.
- SBI provides 24/7 digital support to enhance customer service.
- The bank aims to offer smooth and inclusive services, especially for customers in rural and semi-urban areas.
- SBI is developing omni-channel engagement strategies. These strategies include AI-powered personalized offerings.
- Global Finance magazine will present the award to CS Setty at the World’s Best Bank event in Washington, D.C.
- This annual event is scheduled for October 18, 2025 during the IMF/World Bank Annual Meetings.
- State Bank of India (SBI) is a public sector bank of India. Its headquarters is in Mumbai. It is one of three Domestic Systemically Important Banks (D-SIBs).
Topic: Appointments
4. R Doraiswamy has taken charge as CEO & MD of LIC.
- R Doraiswamy became the Chief Executive Officer and Managing Director of the Life Insurance Corporation of India on 14 July 2025.
- His term will last for three years from the day he took charge.
- Alternatively, his appointment will end when he turns 62 on August 28, 2028, or earlier if decided by further orders.
- Before this, Doraiswamy was the Managing Director at LIC.
- He is a Fellow of the Insurance Institute of India.
- He is also a student member of the Institute of Actuaries of India.
- With Doraiswamy’s appointment, Sat Pal Bhanoo stepped down from the CEO & MD’s financial and administrative duties.
- This change took effect on July 14, 2025.
- Life Insurance Corporation (LIC):
- It was formed in September 1956. It is headquartered in Mumbai.
- It is under the ownership of Government of India. It is under the administrative control of the Ministry of Finance.
Topic: Appointments
5. Hemant Rupani will become the CEO of Hindustan Coca-Cola Beverages Pvt Ltd starting from September 8.
Topic: Awards and Prizes
6. President Droupadi Murmu presented the Swachh Survekshan 2024–25 Awards in New Delhi.
- The awards ceremony was held at Vigyan Bhawan and organized by the Ministry of Housing and Urban Affairs.
- Indore was declared India’s cleanest city for the eighth consecutive year.
- Surat ranked second, while Navi Mumbai secured the third position.
- These three cities were inducted into the elite Super Swachh League.
- Ahmedabad, Bhopal, and Lucknow were named as the next generation of clean Indian cities.
- Noida was ranked the cleanest city in the 3–10 lakh population category.
- Chandigarh and Mysore followed Noida in this category.
- Ahmedabad topped the list among cities with a population of over 10 lakh.
- A total of 78 awards were given across different city categories.
- There were 43 national-level awards, including special honours for Mahakumbh.
- Prayagraj was awarded Best Ganga Town for its efforts in river cleanliness.
- Secunderabad Cantonment Board was recognized as the Best Cantonment Board.
- Visakhapatnam, Jabalpur, and Gorakhpur received the Best Safai Mitra Surakshit Shehar awards.
- These cities were honoured for ensuring the safety and dignity of sanitation workers.
- The Uttar Pradesh government and Prayagraj authorities received special recognition.
- They were praised for effective waste management during the Mahakumbh event.
- Thirty-four cities were recognized as Promising Swachh Shehars from various States and UTs.
- This year’s survey made participation easier for smaller cities. Smaller cities competed on equal terms with large urban areas.
- The “One City, One Award” approach ensured balanced recognition across States.
- A handcrafted sarangi made from recycled materials was presented to the President.
- Union Minister Manohar Lal launched the Swachh City Partnership initiative.
- Under this program, each of the 78 top cities will mentor one underperforming city.
- He encouraged peer-to-peer learning under the slogan “Each one clean one.”
- The Accelerated Dumpsite Remediation Program was also announced.
- It will begin on August 15, 2025, and run for one year.
- The program will target legacy waste and expand scientific waste processing.
- This year’s survey introduced 10 new evaluation parameters.
- Five different population-based categories allowed fair comparison.
Topic: Appointments
7. Sanjay Kaul has been appointed as the new Managing Director and Chief Executive Officer of GIFT City Company Limited in Gandhinagar.
- He is a 2001-batch IAS officer from the Kerala cadre.
- The Gujarat government's General Administration Department issued an official notification regarding his appointment.
- Kaul is currently on central deputation.
- He is serving as Joint Secretary in the Union Ministry of Culture.
- In this role, he handles international cultural cooperation and UNESCO-related matters.
- He also oversees intangible cultural heritage, library systems, cultural schemes, and key institutions.
- These include The Asiatic Society and the Maulana Abul Kalam Azad Institute of Asian Studies.
- According to the notification, he will serve at GIFT City for three years or until further orders.
- Tapan Ray is the outgoing MD and CEO of GIFT City.
- He is a retired IAS officer from the Gujarat cadre.
- Ray will continue in the role until Kaul officially assumes charge.
Topic: Banking/Financial/Govt Schemes
8. PM Modi launched major agriculture reforms with the PM Dhan-Dhanya Yojana.
- Prime Minister Narendra Modi has reaffirmed the government’s commitment to transforming the lives of farmers in India.
- A major step toward this transformation has been taken through the launch of the “Prime Minister Dhan-Dhaanya Krishi Yojana,” aimed at boosting agricultural growth in lagging districts.
- The Union Cabinet has approved the scheme for six years, beginning in 2025–26, to benefit 100 underperforming districts in agriculture.
- The initiative draws inspiration from the Aspirational Districts Programme by NITI Aayog, with a focus on agriculture and allied sectors.
- The scheme is designed to boost agricultural productivity by promoting crop diversification, sustainable farming practices, and improved irrigation.
- It also aims to enhance post-harvest storage at the Panchayat and block levels while ensuring access to both long-term and short-term credit.
- These 100 districts will be selected based on indicators like low productivity, low cropping intensity, and insufficient credit disbursement.
- Implementation of the scheme will be ensured through the convergence of 36 ongoing schemes from 11 departments and collaboration with the private sector.
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