National News

1. National Maritime Heritage Complex in Lothal, Gujarat: Preserving India's Maritime Legacy

The Ministry of Ports, Shipping, and Waterways, under the Sagarmala program, has embarked on an ambitious project to establish the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat. With an estimated cost of ₹4,500 crore, the NMHC aims to showcase India's maritime heritage from ancient to modern times.
Utilizing cutting-edge technology and an "edutainment approach," the complex seeks to become a world-class facility and an international tourist destination, promoting awareness about India's rich maritime legacy.

International News

2. European Council's Approach Towards China: Balancing Cooperation and "De-risking"

In the summit held on 30th June 2023, the European Council reaffirmed its commitment to reduce dependence on China while finding a balance between cooperation and "de-risking" in various domains, especially considering climate change concerns. The EU now views China as both a partner and competitor, acknowledging its role as a systemic rival. Despite differences in political and economic systems, the EU and China strive to foster stable relations rooted in the rules-based international order, reciprocity, and balanced engagement.

Defence News

3. 'Tarang Shakti': India's Largest Multi-National Air Exercise

The Indian Air Force (IAF) is gearing up to host its inaugural multi-national air exercise, 'Tarang Shakti,' scheduled for October-November this year. The exercise will witness participation from several countries, including the United States, United Kingdom, France, and Australia, with the primary goal of strengthening military cooperation and forging strategic alliances. 'Tarang Shakti' aims to demonstrate India's commitment to global engagement in the realm of air defense.

Banking News

4. RBI's Move: Mahalaxmi Cooperative Bank's Transition to a Non-Banking Institution

The Reserve Bank of India (RBI) made a significant announcement on June 27, revoking the banking permit of Mahalaxmi Cooperative Bank Ltd in Dharwad, Karnataka. However, the bank was granted a non-banking institution license, allowing it to continue operations without hindering its ability to engage in banking activities and accept deposits from non-members.

Business News

5. Visa's Acquisition of Brazilian Fintech Startup Pismo: Expanding Presence in Latin America

Visa, the world's largest payments processor, has recently acquired Brazilian fintech platform Pismo for a substantial sum of $1 billion in cash. This move reflects Visa's strategic aim to expand its footprint in Latin America, signaling confidence in the region despite funding challenges.

Schemes News

6. Govt Raises Interest Rates on Select Savings Schemes: Encouraging Savings

In line with the high-interest rates in the banking system, the government has announced an increase in interest rates on select savings schemes for the July-September quarter. The revised rates aim to provide higher returns to investors and promote a culture of savings. Notably, the interest rate for the five-year recurring deposit (RD) has been raised to 6.5 percent during this quarter.

7. Mahila Samman Savings Certificate, 2023: Empowering Women Financially

The Government of India has authorized Public Sector Banks and eligible Private Sector Banks to implement and operationalize the Mahila Samman Savings Certificate, 2023. This scheme, with a tenure of two years, aims to provide financial security to every girl and woman in India, encouraging them to save and invest in their future.

 Important Days News

8. National Postal Worker Day 2023: Celebrating the Unsung Heroes

On July 1, National Postal Worker Day serves as a reminder to express gratitude and acknowledge the tireless efforts of postal workers. These dedicated individuals play a crucial role in fostering connections between people and communities by ensuring the smooth delivery of mail and essential services.

9. Chartered Accountants Day 2023: Honoring the ICAI's Contributions

National Chartered Accountants Day, observed on July 1, commemorates the establishment of the Institute of Chartered Accountants of India (ICAI). In its 75th year, the ICAI continues to be the exclusive licensing and regulatory authority for the accounting profession and financial auditing in India, with its guidelines shaping the accounting standards followed by various organizations

Appointments News

10. Audi's New CEO: Gernot Dollner's Appointment

Audi AG, the German luxury carmaker, has appointed Gernot Dollner as its new CEO. Dollner, who currently leads Volkswagen Group's Product and Group Strategy, will succeed Markus Duesmann as Chairman of the Board of Management. The appointment aims to strengthen Audi's product strategy and market position.

Sports News

11. Dream11 Becomes Principal Jersey Sponsor of Indian Cricket Team

Dream11, the popular fantasy gaming platform, has taken over as the main jersey sponsor for the Indian cricket team from July 2023 to March 2026, replacing Byju's. This move comes after securing a deal worth Rs 358 crore. Dream11's association with Team India underscores the platform's growing presence in the sports arena.

12. Neeraj Chopra Wins Lausanne Diamond League 2023

Olympic gold medalist Neeraj Chopra achieved the top spot in the Lausanne Diamond League 2023 with an impressive throw of 87.66 meters. Despite recovering from a muscle injury, Chopra showcased his remarkable skills in the competition.

13. India Emerges Victorious in Asian Kabaddi Championship 2023

In the final of the Asian Kabaddi Championship 2023, held in Busan, Republic of Korea, India secured a victory against Iran with a score of 42-32. This marked India's eighth championship title in the past nine editions, with Pawan Sehrawat's outstanding performance as the captain of the Indian team.

Miscellaneous News

14. India's Biggest Natural Arch Discovered in Odisha

The Geological Survey of India's (GSI) state unit has made a remarkable discovery – the biggest natural arch in India – located in the Kanika range of Sundargarh forest division in Odisha.
Proposed for the Geo Heritage tag, this geological marvel, originating during the Jurassic period, boasts an oval shape with a length of 30 meters at the base and a height of 12 meters. The alcove of the arch reaches a height of 7 meters and a width of 15 meters, making it a stunning geological landmark.