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Daily Current Affairs 7th and 8th June 2025 Daily GK Update
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National News
India, Kyrgyzstan Sign New Bilateral Investment Treaty to Boost Economic Ties and Investor Protection
- India and Kyrgyzstan signed and exchanged the Instrument of Ratification for the Bilateral Investment Treaty (BIT) in New Delhi, in the presence of Finance Minister Nirmala Sitharaman and Kyrgyz Foreign Minister Zheenbek Kulubaev Moldokanovich.
- The new treaty replaces the earlier BIT signed on 12th May 2000 and aims to provide a secure and predictable investment environment for investors from both countries.
- According to the Finance Ministry, the treaty is a significant step in boosting bilateral economic relations, promoting cross-border investments, and safeguarding the interests of investors in both nations.
India Launches ‘Ayush Nivesh Saarthi’ Portal to Boost Global Investments in Traditional Medicine and Wellness
- The Government of India launched the ‘Ayush Nivesh Saarthi’ portal, during the Ayush Stakeholder Meet in New Delhi, jointly unveiled by Union Ministers Piyush Goyal and Prataprao Jadhav to attract domestic and global investments in traditional medicine and wellness.
- Developed by the Ministry of Ayush in collaboration with Invest India, the portal serves as an investor-centric digital platform integrating policies, incentives, real-time facilitation, and investment-ready projects to promote the Ayush sector as a modern economic driver.
- With 100% FDI permitted through the automatic route, the platform aims to capitalize on India’s 8,000+ medicinal plant species and 17% sectoral growth (2014–2020), boosting India’s presence in the USD 13 billion medical value travel market and global wellness economy
PM Modi Inaugurates World’s Highest Chenab Railway Arch Bridge
- Prime Minister Narendra Modi inaugurated the world’s highest railway arch bridge over the Chenab River in Jammu and Kashmir, marking a major achievement in India’s infrastructure development.
- During his visit, PM Modi inaugurated and laid foundation stones for various rail and development projects worth over ₹46,000 crore in Jammu and Kashmir.
- The Chenab Railway Arch Bridge and India’s first cable-stayed Anji Khad Railway Bridge are key components of the Udhampur-Srinagar-Baramulla Rail Link, and PM Modi also laid the foundation stone for the Shri Mata Vaishno Devi Institute of Medical Excellence, the first medical college in the Raesi district.
Himachal Pradesh Distributes Steel Bottles to Students to Combat Plastic Pollution
- The Himachal Pradesh government has launched an eco-friendly initiative to distribute steel water bottles to school students as a step toward reducing single-use plastic in the state.
- This move aims to promote sustainable habits among children and raise awareness about plastic pollution and its harmful effects on the environment.
- The initiative is part of Himachal Pradesh’s broader campaign for environmental conservation, aligning with its goal of becoming a plastic-free state and encouraging responsible consumption practices.
About Himachal Pradesh
- Capital – Shimla (Summer), Dharamshala (Winter)
- Chief Minister – Sukhwinder Singh Sukhu
- Deputy Chief Minister – Mukesh Agnihotri
- Governor – Shiv Pratap Shukla
International News
UNGA Elects Latvia, Bahrain, Colombia, Liberia, and DR Congo as New Non-Permanent Members of UN Security Council for 2026-27
- The United Nations General Assembly has elected Latvia, Bahrain, Colombia, Liberia, and the Democratic Republic of Congo as new non-permanent members of the UN Security Council for a two-year term starting January 1, 2026, and ending December 31, 2027.
- Latvia has been elected to the UN Security Council for the first time, joining countries like Pakistan, Denmark, Panama, Greece, and Somalia, who are current non-permanent members.
- The UN Security Council consists of 15 members, including five permanent members with veto power: China, Russia, France, the United Kingdom, and the United States.
- The newly elected countries will replace Slovenia, South Korea, Guyana, Algeria, and Sierra Leone, whose terms end on December 31, 2025.
Banking and Financial
Central Bank of India Acquires Significant Stakes in Future Generali India and Life Insurance for Over Rs 500 Crore
- Central Bank of India acquired a 91% stake in Future Generali India for Rs 451 crore and a 25.18% stake in Future Generali India Life Insurance for Rs 57 crore, completing the acquisition, with approvals from CCI, RBI, and IRDAI.
- Future Generali’s insurance businesses, established in 2006 as joint ventures between Future Enterprises Ltd and Generali Group, showed strong growth, with the general insurance arm posting a 21.06% YoY increase in gross direct premium income to Rs 527.8 crore in FY25.
- The life insurance division offers a wide range of plans including savings, investment-linked, term, health, child, retirement, rural, and group insurance, with its new business premium nearly doubling in FY25 to Rs 1,192.2 crore, reflecting significant year-on-year growth.
Private Banks Witness Sharpest Loan Growth Slowdown in FY25
- Private-sector banks experienced the sharpest decline in loan growth in FY25, dropping to 9.5% in March after consistently exceeding 15% for the previous three years, while overall credit growth slowed to 11.1% from 15.3% the year before.
- Retail loans’ share of total credit rose significantly over five years, reaching 31% in FY25 from 24.1% in FY20; despite slowing growth to 13.2%, retail loans—especially consumer durables and personal loans—continued to grow faster than overall credit.
- The proportion of individual borrowers in total credit increased from 41.5% in March 2020 to 47.8% in March 2025, with female borrowers’ share also rising gradually from 22.0% to 23.8% during the same period.
- On the liabilities side, savings deposits’ share declined to 29.1% in March 2025, down from 33.0% two years ago, as many banks cut savings deposit rates to protect net interest margins; meanwhile, the share of fixed deposits with interest rates of 7% or more surged to 72.7%, up from 33.5% two years earlier.
RBI Cuts Policy Repo Rate by 50 Basis Points to 5.5 %
- The Reserve Bank of India (RBI) has cut its policy repo rate by 50 basis points (0.50%) and maintained the growth rate forecast of 6.5 % for the Indian economy in 2025-26.
- RBI has also announced a staggered 1% cut in the cash reserve ratio (CRR) to 3%. Since February 2025, the RBI has reduced the policy repo rates by 100 basis points or 1%.
RBI Current Policy Rate are as under –
- Policy Repo Rate – 5.50%
- Standing Deposit Facility (SDF) – 5.25%
- Marginal Standing Facility (MSF) – 5.75%
- Bank Rate – 5.75%
- Reverse Repo Rate – 3.35%
- Cash Reserve Ratio (CRR) – 3%
- Statutory Liquidity Ratio (SLR) – 18%
RBI forecasts for the FY26
- GDP – 6.5% (FY26)
- Q1 (April to June 2025) – 6.5%
- Q2 (July to September 2025) – 6.7%
- Q3 (October to December 2025) – 6.6%
- Q4 (January to March 2026) – 6.3%
Defence
Dassault Aviation and Tata Advanced Systems to Manufacture Rafale Fuselages in India
- French aerospace giant Dassault Aviation and India’s Tata Advanced Systems Limited signed four agreements to jointly manufacture the Rafale fighter aircraft fuselage in India, marking the first time this critical component will be produced outside France.
- Tata Advanced Systems will establish a state-of-the-art production facility in Hyderabad to manufacture key structural sections of the Rafale, with the first fuselage sections expected to be ready by 2028, and a capacity of up to two complete fuselages per month.
Sports
Piyush Chawla Announces Retirement from All Forms of Cricket
- Star Indian spin bowler Piyush Chawla has announced his retirement from all forms of cricket after a successful 20-year professional career.
- Chawla, aged 36, represented India in 3 Tests, 25 ODIs, and 7 T20Is, with his last international match being the 2012 T20 World Cup in Sri Lanka.
- He was part of India’s victorious squads in the 2007 ICC T20 World Cup and the 2011 ICC Cricket World Cup.
Recently Retired Players
- Pardeep Narwal (India) – Kabaddi
- Glenn Maxwell (Australia) – ODI Cricket
- Heinrich Klaasen (South Africa) – International cricket
- Angelo Mathews (Sri Lanka) – Test cricket
- Virat Kohli (India) – Test Cricket
- Rohit Sharma (India) – Test Cricket
Important day
6 June – Russian Language Day
- Russian Language Day is celebrated every year on June 6, marking the birthday of Alexander Pushkin, the father of modern Russian literature.
- It was established by the United Nations in 2010 to promote multilingualism and cultural diversity.
- Russian is one of the six official languages of the UN, and this day highlights its global significance in diplomacy, literature, and culture.
- This date marks the birthday of Alexander Pushkin (1799–1837), one of the greatest Russian poets and the founder of modern Russian literature.
- It was established in 2010 by the UN Department of Public Information.
7 June – World Food Safety Day
- World Food Safety Day is observed annually on June 7 to raise global awareness about the importance of food safety and to prevent foodborne illnesses.
- Theme 2025 – Food Safety: Science in Action
- Established by the United Nations in 2018, the day encourages governments, organizations, and individuals to work together for safer food systems.
- Unsafe food causes approximately 600 million cases of foodborne diseases and 420,000 deaths worldwide every year, with children under five being the most affected.
Obituary
Eminent Marathi Scholar Daji Panshikar Passes Away at 92
- Eminent Marathi scholar and author Daji Panshikar, known for his profound interpretations of Indian epics like the Mahabharata, Eknaathi Bhagwat, and Bhavarth Ramayan, passed away at the age of 92 in Thane, Maharashtra.
- He was a respected intellectual and cultural figure in Maharashtra, also contributing to theatre through the organization Natyasampada Natya Sanstha, where he served as a guiding force.
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