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Daily Current Affairs 3rd July 2026 Daily GK Update
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National News
Centre notifies minimum wage ₹300/day under VB-G RAM G
- The Central Government has notified revised wage rates under the Viksit Bharat – Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025 (VB-G RAM G), which came into force on 1 July 2026, replacing MGNREGA.
- The national average daily wage has been increased to ₹327.4 from ₹298.8 under the repealed MGNREGA, reflecting an average hike of over 10%.
- A new interim base wage rate of ₹300 per day has been introduced, ensuring that no notified wage under the scheme falls below this level.
- States such as Uttar Pradesh, Bihar, Jharkhand, West Bengal, Assam, Arunachal Pradesh, and Himachal Pradesh have recorded wage increases ranging between 15% and 25% under the revised rates.
Eight Traditional Products of Himachal Pradesh Receive GI Tag
- Eight traditional products of Himachal Pradesh have been awarded the Geographical Indication (GI) Tag, recognising their unique origin, authenticity, and cultural heritage.
- With the latest additions, the total number of GI-tagged products from Himachal Pradesh has increased to 17, strengthening the state’s identity in traditional crafts and agricultural products.
- The newly GI-tagged products are: Seabuckthorn (Spiti), Salooni Safed Makka, Chamba Metal Art, Sirmauri Loiya, Kinnauri Topi, Sepuvadi, Kinnauri Apple, and Kinnauri Jewellery.
Odisha Launches ‘Gyanodaya – Shiksharu Samruddhi’ Scheme to Promote Free Education
- The Odisha Government has launched the ‘Gyanodaya – Shiksharu Samruddhi’ Scheme, approved by Chief Minister Mohan Charan Majhi, to promote equitable access to education across the state.
- Under the scheme, eligible students will receive a complete waiver of admission fees, reducing the financial burden on families and encouraging higher enrolment.
- The initiative supports the Odisha Government’s vision of providing free education from Kindergarten (KG) to Postgraduate (PG) level, ensuring inclusive and affordable education for all.
About Odisha
- Capital – Bhubaneswar
- Chief Minister – Mohan Charan Majhi (replace Naveen Patnaik)
- Deputy CM – KV Singhdeo and Pravati Parida
- Governor – Hari Babu Kambhampati
Banking And Financial News
India’s Gross GST Collection Rises 13.9% to ₹1.95 Lakh Crore in June 2026
- India’s gross Goods and Services Tax (GST) revenue increased by 13.9% year-on-year to ₹1.95 lakh crore (₹1,94,812 crore) in June 2026, compared to ₹1.71 lakh crore in June 2025.
- GST collections from domestic transactions rose 6.5% to ₹1,34,774 crore, while GST revenue from imports surged 34.6% to ₹60,038 crore, reflecting strong domestic demand and external trade.
GST Collection of Previous Months
- January 2026 – ₹1.93 lakh crore
- February 2026 – ₹1.83 Lakh Crore
- March 2026 – ₹2 lakh crore
- April 2026 – ₹2.42 lakh crore
- May 2026 – ₹1.94 lakh crore
UPI Transactions Moderate to ₹28.9 Lakh Crore in June 2026, Register 20% Annual Growth
- Unified Payments Interface (UPI) transactions were valued at ₹28.9 lakh crore in June 2026, slightly lower than the record ₹29.9 lakh crore recorded in May 2026.
- In volume terms, UPI processed 22.72 billion transactions in June 2026, compared to 23.2 billion transactions in the previous month.
- Despite the monthly moderation, the value of UPI transactions recorded a 20% year-on-year growth, rising from ₹24.03 lakh crore in June 2025 to ₹28.9 lakh crore in June 2026.
Four Public Sector Banks Pay ₹9,439 Crore Dividend to Government for FY 2025–26
- Four leading public sector banks—Punjab National Bank, Canara Bank, Bank of Baroda, and Indian Bank—paid a combined dividend of ₹9,439 crore to the Government of India for FY 2025–26.
- The dividend cheques were presented to Nirmala Sitharaman. Among the four banks, Bank of Baroda paid the highest dividend of ₹2,811 crore, followed by Punjab National Bank (₹2,416 crore) and Canara Bank (₹2,397 crore).
- Indian Bank also contributed its dividend for FY 2025–26, reflecting the strong financial performance of India’s public sector banks.
IRDAI Grants Registration to Prudential HCL Health Insurance as Standalone Health Insurer
- The Insurance Regulatory and Development Authority of India (IRDAI) has granted a Certificate of Registration to Prudential HCL Health Insurance to operate as a standalone health insurance company in India.
- Prudential HCL Health Insurance is a joint venture in which Prudential Plc holds a 70% stake, while the HCL Group holds the remaining 30% stake through Vama Sundari Investments.
- The approval was granted during IRDAI’s 136th meeting held on 29 June 2026. It is the third insurance entity to receive registration in 2026, taking the total number of standalone health insurers (SAHIs) in India to 8.
IFSCA Proposes ‘One KYC’ Framework for GIFT IFSC to Simplify Customer Onboarding
- The International Financial Services Centres Authority (IFSCA) has proposed a ‘One KYC’ framework for GIFT IFSC to simplify and streamline customer onboarding.
- Under the new framework, customers will need to complete the Know Your Customer (KYC) process only once, allowing the same verified KYC records to be used across multiple IFSCA-regulated financial entities.
- From 1 September 2026, all new customers in GIFT IFSC must be onboarded through the KYC Registration Agencies (KRA) system, while the KYC records of all existing active customers must be uploaded to the KRA by 30 October 2026.
HiWiPay Receives IFSCA In-Principle Approval to Set Up PSP Subsidiary at GIFT City
- HiWiPay has received in-principle approval from the International Financial Services Centres Authority (IFSCA) to expand its operations in India’s international financial hub.
- The approval allows HiWiPay to establish a wholly owned Payment Services Provider (PSP) subsidiary at GIFT City (GIFT IFSC).
HDFC Bank Launches In-House AI Platform ‘Neev’ and Real-Time Fraud Detection System
- HDFC Bank has launched its in-house generative AI platform, Neev, along with a custom real-time fraud detection system to enhance operational efficiency, strengthen cybersecurity, and improve fraud prevention.
- By developing these technologies internally, HDFC Bank aims to reduce dependence on third-party vendors while tackling the growing threat of digital banking fraud and accelerating its technology-led transformation.
Appointment News
Anupam Misra Takes Charge as CMD of Hindustan Copper Limited
- Anupam Misra has assumed charge as the new Chairman and Managing Director (CMD) of Hindustan Copper Limited (HCL), succeeding Sanjiv Kumar Singh.
- Sanjiv Kumar Singh retired (superannuated) on June 30, after which Anupam Misra officially took over the leadership of HCL.
Recent Appointments
- Director of Vikram Sarabhai Space Centre – U.P. Rajeev
- MD of OpenAI – Prabhjeet Singh
- Solicitor General of India – Tushar Mehta (Reappointed for Three More Years)
- As a Judge of International Tribunal for the Law of the Sea (ITLOS) for the 2026–2035 term – Bimal N. Patel
- Chairperson of National Statistical Commission – Dr. Saibal Chattopadhyay
Government Extends Foreign Secretary Vikram Misri’s Tenure by One Year
- The Appointments Committee of the Cabinet (ACC) has approved a one-year extension in the tenure of Foreign Secretary Vikram Misri.
- The extended tenure will be effective from 15 July 2026 to 14 July 2027, ensuring continuity in India’s diplomatic leadership.
RBI Appoints Ravi Shankar as Executive Director Effective July 1, 2026
- The Reserve Bank of India (RBI) has appointed Ravi Shankar as its Executive Director with effect from 1 July 2026.
- Before his appointment, Ravi Shankar served as Adviser-in-Charge of the Department of Statistics and Information Management (DSIM) and will continue to oversee the department as Executive Director.
Recent Appointments in Banking & Insurance Sector
- Additional Director (Independent Director) and Part-Time Chairman – Former CEC Rajiv Kumar (replace Atanu Chakraborty)
- CMD of General Insurance Corporation of India – Hitesh Rameshchandra
- Director of Central Board of RBI – Sanjay Lohiya
- Deputy Governor of RBI – Swaminathan Janakiraman (for 2 years)
Ravi Agrawal Re-Appointed as CBDT Chairman
- Ravi Agrawal has been re-appointed as Chairman of the Central Board of Direct Taxes (CBDT) on a contract basis for six months, effective 3 July 2026 to 31 December 2026, or until further orders, whichever is earlier.
- The re-appointment has been approved by the Appointments Committee of the Cabinet (ACC), ensuring continuity in the leadership of the CBDT, the apex body responsible for direct tax administration in India.
Somnath Ghosh Appointed as India’s Next High Commissioner to Malaysia
- The Government of India has appointed Somnath Ghosh, a 1997-batch Indian Foreign Service (IFS) officer, as the next High Commissioner of India to Malaysia.
- Currently serving as the Consul General of India in Chicago, Somnath Ghosh is expected to assume his new diplomatic assignment in Malaysia shortly, according to the Ministry of External Affairs (MEA).
About Malaysia
- Capital – Kuala Lumpur
- Currency – Ringgit
- Prime Minister – Anwar Ibrahim
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