Daily Current Affairs and GK | 7 June 2025

Topic: Banking/Finance

1. The RBI has reduced the repo rate by 50 basis points.

• It now stands at 5.5%. This is the third consecutive rate cut.
• The monetary policy stance has shifted from accommodative to neutral.
• The SDF rate has been revised to 5.25%.
• The MSF and Bank Rate have been adjusted to 5.75%.
• Lending rates linked to external benchmarks are expected to decrease.
• Banks may also lower their lending rates in response.
• The move aims to keep inflation near the 4% target. It also supports economic growth.
• The CPI inflation forecast for FY26 is revised to 3.7%. Earlier, it was projected at 4%.
• Inflation is expected to stay aligned with the 4% target over the near and medium term.
• The GDP growth forecast for FY25 remains unchanged at 6.5%. FY26 GDP is also projected at 6.5%.
• Quarterly growth is expected at 6.1% in Q1, 6.7% in Q2, 6.6% in Q3, and 6.3% in Q4.
• CPI inflation for Q4 is estimated at 4.4%.
• Gross FDI inflows increased by 14% in FY25. Forex reserves have risen to $691.5 billion.
• SDF balances have averaged ₹2 lakh crore over the past two months.
• The CRR has been cut by 100 basis points. It now stands at 3%, down from 4%.
• This reduction will release ₹2.5 lakh crore in primary liquidity.
• The CRR cut will be rolled out in four phases of 25 basis points each.
• The Indian economy is showing positive signs in both inflation control and growth.
• The next MPC meeting is scheduled for August 4 to 6, 2025.

Topic: Important Days

2. World Food Safety Day 2025: 7 June

• World Food Safety Day is observed every year on 7 June.
• It aims to attract attention to help prevent, detect and manage foodborne risks.
• The theme for World Food Safety Day 2025 is “Food Safety: Science in Action.”
• The day was formally established by the United Nations General Assembly in December 2018, marking an important step towards recognising food security as a shared responsibility.
• The first worldwide commemoration was held on June 7, 2019.
• The World Health Organization (WHO) and the Food and Agriculture Organization of the United Nations (FAO) together facilitate the observance of World Food Safety Day.
• This day is an opportunity to strengthen efforts to ensure that the food we eat is safe.

Topic: Government Schemes and Initiatives

3. India launched Nationwide Digital Application for waste pickers under Namaste scheme.

• On World Environment Day 2025, the “Waste Picker Enumeration App” launched in New Delhi under the NAMASTE Scheme by the Ministry of Social Justice and Empowerment (MoSJE).
• This digital initiative reaffirms the government’s commitment to environmental justice and the dignity of sanitation workers.
• The initiative was rolled out under the expanded NAMASTE scheme, aiming to enumerate 2.5 lakh Waste Pickers across the country.
• The expanded NAMASTE Scheme seeks to profile:
  • Issue occupational photo ID cards to Waste Pickers
  • Provide health insurance under Ayushman Bharat (PM-JAY)
  • Deliver PPE kits, skilling, and access to capital subsidies
  • Strengthen Waste Picker Collectives to manage 750 DryWaste Collection Centers (DWCCs)
• This step has been recognized as a critical move toward formalizing the role of Waste Pickers in India's circular economy.
• At the launch event, knowledge products on sanitation workforce development were also released by MoSJE officials.
• The National Action for Mechanized Sanitation Ecosystem (NAMASTE) scheme, implemented jointly by MoSJE and MoHUA, has already reached over 80,000 Sewer and Septic Tank Workers (SSWs).
• The initiative is being supported by the National Safai Karamchari Finance and Development Corporation (NSKFDC) as the implementing agency.
• The expansion of NAMASTE in June 2024 has marked a new milestone toward inclusive sanitation governance and environmental dignity.

Topic: Summits/Conferences/Meetings

4. The 4th India-Central Asia Dialogue held to deepen regional cooperation.

• On June 6, 2025, the 4th India-Central Asia Dialogue hosted by External Affairs Minister Dr. S. Jaishankar in New Delhi.
• The Dialogue was attended by key dignitaries including Kazakhstan's Deputy Prime Minister and Foreign Minister Murat Nurtleu, Tajikistan’s Foreign Minister Sirojiddin Muhriddin, Turkmenistan’s Deputy Chairman of Cabinet and Foreign Minister Rashid Meredov, Kyrgyzstan’s Foreign Minister Zheenbek Kulubaev, and Uzbekistan’s Foreign Minister Bakhtiyor Saidov.
• According to the Ministry of External Affairs, the third dialogue was earlier hosted by India in December 2021 in New Delhi.
• A long-standing cultural and historical connection has been acknowledged between India and Central Asia, referred to as part of each other's ‘Extended Neighbourhood’.
• The first India-Central Asia Summit, held virtually in January 2022, along with this ongoing Dialogue mechanism, has significantly advanced bilateral and multilateral ties.
• During the 4th Dialogue, discussions held to enhance cooperation in trade, connectivity, technology, and development partnerships.
• Perspectives on regional security challenges and various global issues of mutual concern were also shared by the participating ministers.
• Earlier, on June 5, the India-Central Asia Business Council meeting was held, organised by the Ministry of External Affairs in partnership with FICCI, which was attended by all the delegations.
• The Dialogue is seen as a strong reflection of the mutual desire of India and Central Asian countries to build a deeper and wider strategic partnership.

Topic: Sports

5. India finished second at the 2025 Asian Athletics Championships.

• India finished second in the overall medal tally at the 26th Asian Athletics Championships held in Gumi, South Korea.
• A total of 24 medals, including 8 golds, 10 silvers, and 6 bronzes, were secured by Indian athletes during the competition.
• China topped the medal tally with 32 medals, including 19 gold, 9 silver, and 4 bronze medals, while Japan finished third with 28 medals, including 5 gold, 11 silver, and 12 bronze medals, even though it had won more medals than India.
• National pride was boosted as Animesh Kujur set a national record in the men’s 200m sprint with a bronze medal finish.
• Gulveer Singh claimed two golds in the 5000m and 10000m events, with a record performance in the 5k.
• Avinash Sable secured gold in the 3000m steeplechase, continuing his dominance in long-distance events.
• India’s women athletes also shined with victories in the 4x400m relay, high jump, heptathlon, and 100m hurdles.
• A gold in the 4x400m mixed relay was also added to the tally, marking success in the only mixed event.
• This is India's best performance at the biennial Asian Athletics Championships since winning on home turf in Bhubaneswar in 2017, and they have improved on their results in 2019 (fifth) and 2023 (third).

Topic: India and its Neighborhood

6. Bangladesh introduced new currency without Mujibur Rehman’s Image.

• Bangladesh has unveiled redesigned currency notes that no longer feature the image of its founding father, Sheikh Mujibur Rehman.
• Sheikh Mujibur Rahman, the founding father of Bangladesh and exiled leader Sheikh Hasina's father, was dropped from the new currency notes.
• Instead, the new banknotes are showcasing heritage symbols, temples, monasteries, and iconic architectural landmarks.
• The decision has been taken by the central bank under the interim leadership of Nobel Laureate Mohammad Yunus.
• The Tk 20 note features the Kantaji Temple, a Hindu temple in Dinajpur, and the Paharpur Monastery.
• The 50 Taka note bears the image of Ahsan Manzil palace in the capital Dhaka and a painting of the Akal era made by Zainul Abedin.
• The 1,000 taka note, printed in purple colour, bears images of the National Martyrs' Memorial and the Jatiya Sangsad Bhaban.
• All three bear the Royal Bengal Tiger watermark and the bank's monogram.
• The central bank stated that no human portrait would be featured in the new series of notes.
• The older notes featuring Mujibur Rehman’s image will remain legal tender and will circulate alongside the new ones.
• The move follows recent political unrest and protests that had led to the ban of Mujib’s image on fresh currency.
• The new design aims to curb counterfeiting and emphasise national identity through depiction of historical and religious sites.

Topic: State News/Jammu and Kashmir

7. PM Narendra Modi launched and inaugurated several major development projects during his visit to Jammu and Kashmir.

• The total worth of these projects is over ₹46,000 crore.
• He unveiled the Chenab Bridge. It is the tallest railway arch bridge in the world.
• He also inaugurated the Anji Khad Bridge. It is India’s first cable-stayed rail bridge.
• Anji Khadd Rail Bridge has been built between Reasi and Katra in Kashmir at a cost of Rs 550 crore.
• This bridge is 725.5 meters long and is 331 meters high from the river bed.
• PM Modi dedicated the Udhampur-Srinagar-Baramulla Rail Link (USBRL) to the nation.
• This rail project has been built at a cost of around ₹44,000 crore.
• The Prime Minister said that the Chenab Bridge will boost connectivity between Jammu and Srinagar.
• He criticized Pakistan for targeting civilians in districts like Jammu and Poonch.
• He acknowledged the suffering of families affected by shelling.
• He said earlier financial help was given for home repairs.
• Now, the Central Government will increase this support.
• Families with fully damaged homes will get ₹2 lakh.
• Those with partially damaged homes will receive ₹1 lakh. This assistance is in addition to earlier help.
• PM Modi stated that over 25 crore people have come out of poverty in the last 11 years.
• They have now become part of the neo-middle class.
• He flagged off two Vande Bharat Express trains.
• One runs from Shri Mata Vaishno Devi Katra to Srinagar. The other goes from Srinagar to Katra.
• PM Modi laid the foundation stone for the Shri Mata Vaishno Devi Institute of Medical Excellence in Katra.
• The project is worth over ₹350 crore. It will be the first medical college in Reasi district.

Topic: Space and IT

8. Elon Musk’s Starlink has received official approval from India’s Department of Telecommunications.

• The approval allows it to offer satellite-based internet services in the country.
• This brings Starlink closer to starting its commercial operations in India.
• Starlink is now the third company to get this licence.
• Eutelsat OneWeb and Jio Satellite Communications received it earlier.
• Amazon’s Projbnect Kuiper is still waiting for regulatory clearance.
• Officials from the telecom department confirmed Starlink’s licence on June 6, 2025.
• Starlink can now apply for trial spectrum.
• This will be given within 15 to 20 days of the application.
• Before starting services, Starlink must meet India’s security requirements.
• This includes systems for lawful interception and monitoring.
• The licence was issued about a month after a letter of intent was given to Starlink.
• Starlink is a satellite internet project by SpaceX.
• SpaceX is an aerospace company founded by Elon Musk in 2002.
• Starlink provides high-speed and low-latency internet.
• It uses advanced satellite technology to deliver this service.
• Unlike traditional systems, it does not rely on geostationary satellites.
• Starlink uses a constellation of satellites in low Earth orbit (LEO).
• These satellites orbit around 550 kilometers above the Earth.
• They form a dense mesh network to beam internet to users.
• Currently, there are about 7,000 Starlink satellites in orbit.
• This number is expected to rise to over 40,000 in the future.

Topic: Government Schemes and Initiatives

9. Union Minister Kiren Rijiju launched the UMEED Central Portal in New Delhi.

• This marks a major reform in how Waqf properties are managed in India.
• Union Minister of State George Kurian also attended the launch event.
• The UMEED Portal is named after the Unified Waqf Management, Empowerment, Efficiency, and Development Act of 1995.
• It is a centralized digital platform. It allows Waqf properties to be uploaded, verified, and monitored in real time.
• Minister Rijiju said the portal will transform Waqf property governance in the country.
• He added that the portal will especially help ordinary Muslims, including women and children.
• The platform brings openness, accountability, and more public participation.
• It ensures Waqf assets are used to uplift underprivileged members of the Muslim community.
• The portal includes a digital property registry with geo-tagging.
• This helps accurately identify each Waqf property.
• It also features an online grievance redressal system.
• People can submit complaints and get faster responses.
• The portal is linked with GIS tools and e-Governance systems.
• This improves the overall management of Waqf assets.

Topic: Indian Economy

10. RBI has predicted a 6.5% GDP growth for India in 2025–26.

• This growth is supported by strong domestic economic activity.
• Each quarter’s growth is estimated separately.
• Q1 is projected at 6.5%, Q2 at 6.7%, Q3 at 6.6%, and Q4 at 6.3%.
• The NSO has provisionally reported 6.5% real GDP growth for 2024–25.
• In early 2025–26, the economy has remained steady and resilient.
• Agriculture continues to perform well. Both kharif and rabi crops had strong harvests.
• Wheat procurement reached its highest level in four years. This has ensured a comfortable food stock position.
• Industrial activity is increasing, though unevenly across sectors.
• The services sector is maintaining strong performance.
• The PMI for services in May 2025 stood at 58.8, indicating expansion.
• Consumer spending is gradually improving. Discretionary purchases are rising.
• Rural demand is stable. Urban demand is slowly gaining strength.
• Investment activity is recovering. High-frequency indicators confirm this trend.
• Goods exports showed strong growth in April 2025. This came after a period of weak performance.
• Non-oil, non-gold imports rose sharply. This points to strong domestic demand.
• Service exports continue to grow steadily. Above-normal monsoon rains are expected this year.
• This should support agriculture and rural demand. The services sector is likely to boost urban consumption further.
• Government spending on infrastructure is ongoing. Factory capacity use is rising.
• Business confidence is improving. Financial conditions are becoming more favorable.
• These factors support higher investment. Trade policy uncertainty still affects goods exports.
• A free trade agreement with the UK is in progress. Talks with other countries are also moving forward.
• These efforts could increase trade in both goods and services.
• However, there are risks to growth. These include geopolitical tensions, global trade challenges, and climate-related uncertainties.