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Daily Current Affairs 3rd July 2025 Daily GK Update
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National News
Bihar Launches ‘Mukhya Mantri Pratigya’ Scheme to Support Youth Internships
- The Bihar government has launched the ‘Mukhya Mantri Pratigya’ scheme to provide financial assistance to youths for internships lasting 3 to 12 months after clearing their class 12 board exams, aiming to boost employability and industry readiness.
- Under the scheme, youths aged 18-28 will receive monthly stipends based on their qualification: ₹4,000 for those who passed Class 12, ₹5,000 for ITI diploma holders, and ₹6,000 for graduates and postgraduates.
- Those doing internships outside their home district will get an additional ₹2,000 per month, while those interning outside the state will receive an extra ₹5,000 per month for up to three months; the payments will be directly credited to their bank accounts.
- Additionally, the cabinet approved the Mukhya Mantri Kalakar Pension Yojana, granting ₹3,000 per month pension to artists who have dedicated at least 10 years to traditional classical visual and performing arts, to help preserve Bihar’s cultural heritage.
About Bihar
- Capital – Patna
- Chief Minister – Nitish Kumar (9th time)
- Deputy CM – Samrat Choudhary and Vijay Kumar Sinha
- Governor – Arif Mohammed Khan
CEA and IIT Roorkee Join Hands to Boost Research and Skill Development in Energy Sector
- The Central Electricity Authority (CEA) and IIT Roorkee signed an MoU to collaborate on research, capacity building, and knowledge sharing in the electricity and energy sector.
- Under the agreement, CEA personnel will gain access to IIT Roorkee’s short-term projects and online courses to enhance their technical skills, while both institutions will conduct joint studies on critical energy issues like electricity planning, hydropower, and renewable energy integration.
- Key areas of cooperation include clean energy transition, flexibility in power systems, distributed generation, and interdisciplinary research on decarbonisation, water neutrality, energy efficiency, and just transition frameworks.
Recent MoUs in News
- Reliance Infra, US Firm Seal ₹20,000 Crore Pact to Modernise India’s Jets and Choppers
- DGT and Shell India Collaborate to Launch Nationwide Green Skills and EV Training Initiative
- SCCL Signs MoU with IMMT to Explore Rare Earth Elements and Enter Critical Minerals Sector
- Indian Railways Partners with BHASHINI to Launch Multilingual AI Services for Enhanced Passenger Experience
- IIT Delhi, AIIMS sign MoU to establish centre to research AI in healthcare
- NLC India Renewables Limited (NIRL) signed a Joint Venture Agreement (JVA) with MAHAPREIT to establish a new Joint Venture Company (JVC) for green energy development.
NIPCCD Renamed as Savitribai Phule National Institute, New Ranchi Centre to Boost Women and Child Development in Eastern India
- The National Institute of Public Cooperation and Child Development (NIPCCD) has been officially renamed the Savitribai Phule National Institute of Women and Child Development, highlighting its commitment to focused support for women and children’s development across India.
- A new Regional Centre will open in Ranchi, Jharkhand, to address specialized training and research needs for key programs like Mission Shakti, Mission Vatsalya, and Mission Saksham Anganwadi & Poshan 2.0, specifically for states in the eastern region—Jharkhand, Bihar, Odisha, and West Bengal.
- The new Regional Centre will also offer the Advance Diploma in Child Guidance and Counselling and will facilitate better accessibility for frontline functionaries in these states. It is estimated that over seven lakh functionaries operate under the Ministry’s missions across the four states, spread across 115 districts.
Gujarat CM Launches Jan Suraksha Santrupti Abhiyan to Expand Welfare Benefits Nationwide
- Gujarat Chief Minister Bhupendra Patel launched the Jan Suraksha Santrupti Abhiyan in Gandhinagar.
- The campaign will run from July 1 to September 30, aiming to identify eligible citizens who have not yet received benefits from key government welfare schemes like the Pradhan Mantri Jeevan Jyoti Bima Yojana, Pradhan Mantri Suraksha Bima Yojana, Atal Pension Yojana, and Jan Dhan Yojana.
- Activities under the campaign include updating KYC details for Jan Dhan accounts, opening new accounts, and raising awareness about digital fraud to improve financial security and inclusion for citizens.
About Gujarat
- Capital- Gandhinagar
- Chief Minister- Bhupendra Rajnikant Patel
- Governor- Acharya Devvrat
Banking and Financial
Saraswat Bank Seeks RBI Nod to Acquire New India Cooperative Bank
- Saraswat Cooperative Bank has sought RBI approval to acquire New India Cooperative Bank Ltd; if approved, Saraswat will take over all liabilities and assets, offering relief to thousands of depositors affected by the RBI-imposed moratorium on New India from February 13. Currently, each New India depositor is limited to withdrawing ₹25,000.
- Depositors’ interest component will be fully protected, according to Gautam Thakur, chairman of Saraswat Cooperative Bank. New India Cooperative currently holds deposits worth ₹2,397.8 crore and advances of ₹1,162 crore.
SBI inaugurates specialised trade finance hubs at Kolkata and Hyderabad
- SBI inaugurated ‘Global Trade Finance Centres’ in Kolkata and Hyderabad to strengthen trade finance services and enhance the efficiency of inland trade and import-export transactions.
- These specialized hubs, staffed by over 800 skilled professionals, will enable faster processing, better turnaround times, and a significantly improved customer experience for businesses.
About State Bank of India (SBI)
- Founded – 1 July 1955
- Headquarters – Mumbai, Maharashtra
- Chairman – Challa Sreenivasulu Setty; 27th (replace Dinesh Kumar Khara)
- Tagline – (1) Pure Banking Nothing Else
(2) With you all the way
(3) A bank of the common man
(4) The banker to every Indian
(5) The Nation banks on us
CCI Approves Viggo Investment’s Acquisition of 2.143% Stake in Groww Parent Billionbrains Garage Ventures
- The Competition Commission of India (CCI) has approved Viggo Investment Pte. Ltd.’s proposed acquisition of a 2.143% shareholding in Billionbrains Garage Ventures Limited, which operates the online investment platform “Groww.”
- The deal involves a Deed of Adherence and Share Subscription Agreement signed on April 28, 2025, allowing Viggo Investment (a GIC group subsidiary) to invest in Groww, expanding its presence in India’s financial technology sector.
- Groww, through its affiliates, not only offers online stock and mutual fund investment services but is also engaged in software design, customization, and development, along with providing consultancy services and marketing of licensed software.
CCI Approves Coromandel International’s Acquisition of Equity Shares in Agrochemical Firm NACL Industries
- The Competition Commission of India (CCI) has approved Coromandel International Limited’s proposed acquisition of certain equity shares in NACL Industries Limited, strengthening its presence in the agrochemical sector.
- Coromandel International Limited, a public listed company, operates across the farming value chain with key businesses in crop nutrition, crop protection, active ingredients, and retail services for farmers.
- NACL Industries, also a public listed company, specializes in agrochemicals, offering a wide range of crop protection products such as insecticides, fungicides, herbicides, plant growth regulators, and active ingredients.
UPI Hits 18.40 Billion Transactions in June
- India’s Unified Payments Interface (UPI) recorded 40 billion transactions worth ₹24.04-lakh crore in June, showing a 32% yearly increase in transaction volume and a 20% rise in value, with an average of 613 million transactions worth ₹80,131 crore happening daily.
- Despite a slight decrease from May’s 18.68 billion transactions totaling ₹25.14-lakh crore, experts believe this indicates UPI reaching a critical scale rather than a slowdown in adoption.
- The next phase of UPI’s growth is expected to come from innovative use cases like embedded credit, B2B payments, IoT-enabled transactions, and expanding its reach in both global and rural markets, which will require stakeholders to modernize infrastructure and operations
PNB Waives Minimum Balance Penalties
- Following SBI and Canara Bank, Punjab National Bank (PNB) has announced that it will no longer charge penalties for failing to maintain the minimum average balance (MAB) in any savings account, starting July 1, 2025, aiming to make banking more accessible, especially for low-income households, women, and farmers.
- Previously, PNB’s charges for non-maintenance of MAB were calculated based on the percentage of the shortfall from the required balance, but this penalty system has now been completely removed to ease the burden on customers.
About Punjab National Bank (PNB)
- Founded – 12 April 1894
- Founder – Dyal Singh Majithia and Lala Lajpat Rai
- Headquarters – New Delhi
- MD & CEO – Atul Kumar Goel
- Tagline – The Name You can Bank Upon
Appointment
Centre Extends FSIB Chairperson and Members’ Tenure by One Year Till June 2026
- The Centre has extended the tenure of the FSIB chairperson and members by one year, allowing them to serve until 30 June 2026; the Appointments Committee of the Cabinet approved this decision.
- Bhanu Pratap Sharma will continue as FSIB chairperson, with part-time members from banking and insurance sectors like Animesh Chauhan, Deepak Singhal, Shailendra Bhandari, Usha Sangwan, A V Girija Kumar, and Sujay Banarji also receiving extensions.
- Originally established as the Banks Board Bureau (BBB) and restructured as FSIB in 2022, the bureau acts as the headhunting agency for top appointments in state-run banks and financial institutions, recommending names for whole-time directors and non-executive chairpersons to the Appointments Committee of the Cabinet.
Rajendra Prasad Goyal gets additional charge as NHPC CMD
- Rajendra Prasad Goyal, Director (Finance) at NHPC Limited, has been given the additional charge of Chairman and Managing Director (CMD) of NHPC from July 1, 2025.
- Goyal, a member of the Institute of Cost Accountants of India and M.Com from the University of Rajasthan, has over 36 years of experience in NHPC, with expertise in financial, contractual, and regulatory aspects of hydropower projects.
- The position became vacant after Raj Kumar Chaudhary retired on June 30, 2025, while the Public Enterprises Selection Board (PESB) has already recommended Bhupender Gupta, Director (Technical) at THDC India Ltd, as the next CMD of NHPC.
Recent Appointments
- Chairman of Sona BLW Precision Forgings Ltd (Sona Comstar) – Jeffrey Mark Overly
- First Indian-American Provost Massachusetts Institute of Technology (MIT) – Anantha Chandrakasan (replace Cynthia Barnhart)
- MD of Nippon Koei India – G. Sampath Kumar (replace Katsuya Fukasaku); becomes First Indian
- MD and Head of Meta India – Arun Srinivas
- MD of Sun Pharma – Kirti Ganorkar
Kesavan Ramachandran Appointed as RBI Executive Director
- Kesavan Ramachandran has been appointed as Executive Director of the Reserve Bank of India (RBI) from July 1, 2025, and will head the Department of Regulation (Prudential Regulation Division).
- With over three decades of experience at RBI, he previously served as Principal Chief General Manager in the Risk Monitoring Department and was also a board member of Canara Bank and one of the boards of ICAI.
Recent Appointment in Banking & Insurance Sector
- MD of Bajaj Consumer Care – Naveen Pandey (replace Jaideep Nandi)
- President of the Asian Infrastructure Investment Bank – Zou Jiayi (replace Jin Liqun)
- CEO of UGRO Capital – Anuj Pandey
- Chairperson of PFRDA – Sivasubramanian Ramann (replace Deepak Mohanty); for 5 years
Awards
PM Modi conferred Ghana’s highest honour for distinguished statesmanship
- Prime Minister Narendra Modi was awarded the “Officer of the Order of the Star of Ghana” by President John Mahama, Ghana’s highest civilian honour, in recognition of his influential leadership and contributions on the global stage.
- The Order of the Star of Ghana is a prestigious national award given to individuals who significantly contribute to Ghana’s interests or strengthen its international relations; the insignia includes a seven-pointed star medal with a ribbon in Ghana’s national colors.
Recent Awards
- “Officer of the Order of the Star of Ghana” by Ghana President – PM Narendra Modi
- Cyprus’s Highest Civilian Honour “Grand Cross of the Order of Makarios III” – PM Narendra Modi
- Srimanta Sankardeva Award – Dr. Sonal Mansingh (for Cultural Contributions in Assam)
- Dostoevsky Star Award – Javed Akhtar (for his influence on ‘cultural dialogue’)
- Global Leadership Award by USISPF – Kumar Mangalam Birla
Obituary
Renowned Hypnotist and Personality Development Expert BV Pattabhiram Passes Away
- Famous hypnotist, magician, psychologist, and personality development expert BV Pattabhiram passed away at his home in Hyderabad at the age of 75.
- Pattabhiram conducted personality development workshops across India and in countries like the US, Australia, Malaysia, Thailand, Singapore, and Arab nations, helping people overcome stress and fears to achieve success.
- He started India’s first Magic School, recognized by the Limca Book of Records, received an Honorary Doctorate from the University of Florida in 1983, and was given honorary citizenship by the mayors of Nashville and New Orleans in the US.
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