NATIONAL NEWS

Department of Posts Launches DHRUVA

The Department of Posts (DoP) has introduced a comprehensive policy framework for DHRUVA, a Digital Address Digital Public Infrastructure (DPI) designed to provide a unique and precise digital address for every home in India.

This initiative aims to strengthen address management as a critical public infrastructure for improved governance and service delivery.

A DPI creates a secure, geo-coded digital address system for homes across India.

It enables users to share accurate address information through a standardized geo-spatial framework.

It recognizes address management as essential for effective governance and enhanced user experiences.

It is a 10-digit alpha-numeric code based on geographic coordinates (latitude-longitude).

It is developed by dividing India’s territory into uniform grids of approximately 4x4 meters.

It provides unique location identification using geospatial data.

 

SCIENCE & TECHNOLOGY

China Launched Tianwen-2

Tianwen-2 was launched in June 2025 using a Long March 3B rocket from Xichang Satellite Launch Center, China.

Mission Objective is to sample a near-Earth asteroid named 469219 Kamoʻoalewa (2016 HO3) and later survey the main belt comet 311P/PANSTARRS.

The mission will spend 7 months studying and collecting samples.

Samples from the asteroid will be returned to Earth by late 2027 through a reentry module.

Scientific Goals is to understand the nature and origin of the asteroid, possibly a moon fragment.

After sample return, Tianwen-2 will perform an Earth gravity assist to head towards the comet 311P/PANSTARRS for a 6-year voyage ending around 2035.

 

BANKING

Reserve Bank of India to Roll Out Indigenous Cloud Platform

The Reserve Bank of India (RBI) will launch its own cloud infrastructure called the Indian Financial Services (IFS) Cloud in 2025–26 to promote data localisation and reduce dependence on foreign cloud providers.

The IFS Cloud is developed by RBI’s subsidiary Indian Financial Technology and Allied Services (IFTAS) and is a community cloud designed specifically for the RBI and regulated financial institutions.

The initiative supports India’s data localisation policies and aims to bring financial data management under tighter regulatory oversight.

The cloud service will offer cost-effective, scalable solutions, especially benefiting smaller banks and NBFCs by improving access to cloud infrastructure without relying on global tech firms.

Ownership of the IFS Cloud is expected to transition to a consortium of financial sector participants over time.

RBI plans to upgrade its core banking solution, e-Kuber, which handles real-time settlements like RTGS and NEFT, by adding modules for government auctions, public debt management, and financial literacy.

The cloud-native, API-first redesign of e-Kuber aims to enhance scalability and handle increasing digital transaction volumes; it currently services over 250 commercial banks and state governments.

To combat digital payment fraud, RBI will introduce exclusive internet domains — ‘bank.in’ and ‘fin.in’ — managed by the Institute for Development and Research in Banking Technology (IDRBT) as the domain registrar.

These domains are designed to reduce phishing risks and improve trust in digital banking platforms.

RBI will also introduce an AI governance framework to regulate the use of artificial intelligence (AI) and machine learning (ML) by its staff and partners, focusing on data protection, transparency, and operational integrity.

Reserve Bank of India Initiates 2024-25 Survey on Foreign Liabilities

The Reserve Bank of India (RBI) has launched the 2024-25 round of its annual survey on Foreign Liabilities and Assets (FLA) of Mutual Funds and Asset Management Companies (AMCs).

The survey collects data on external financial liabilities and assets of mutual funds and AMCs as of end-March of the latest financial year.

Survey results are published publicly and used for the compilation of India’s external sector statistics.

AMCs must submit their annual FLA return online via the web portal:https://flair.rbi.org.in by July 15, 2025.

Mutual fund companies need to fill out Survey Schedule-4, available on the RBI website under Regulatory Reporting → List of Returns → FLA MF - Survey Schedule or under Forms → Survey.

Mutual fund companies must send the filled schedule via e-mail by July 15, 2025.

Schedule-4 is available in both Hindi and English formats, and companies can choose either.

The survey helps RBI monitor foreign exposure and financial stability of mutual funds and AMCs.

 

APPOINTMENTS & RESIGNATIONS

MD and CEO of Union Bank

The Financial Services Institutions Bureau (FSIB) recommended Asheesh Pandey as MD and CEO of Union Bank of India (UBI) and Kalyan Kumar as MD and CEO of Central Bank of India (CBoI).

FSIB conducted an interface with 23 candidates from various public sector banks between May 27 – May 30, 2025 for the MD and CEO positions.

The recommendation was based on candidates’ performance in the interface, overall experience, and other parameters.

The current UBI Chief AManimekhalai's three-year term ends next month.

The tenure of MV Rao, MD and CEO of Central Bank of India, ends in July 2025.

Shailendra Nath Gupta assumes office as Director General of Defence Estates

Shri Shailendra Nath Gupta took charge as Director General of Defence Estates on May 31, 2025.

He is a 1990-batch Indian Defence Estates Service officer with a distinguished career in Cantonments and Defence land management.

He previously served as CEO of various Cantonment Boards, Defence Estate Officer of multiple circles, staff officer, Director Defence Estates (Central Command), and Principal Director Defence Estates (Eastern Command).

The Directorate General of Defence Estates manages approximately 18 lakh acres of defence land across India.

It functions under six commands, 38 Defence Estates Circles, and 61 Cantonment Boards.

 

SPORTS

Indian Grandmaster D Gukesh Defeats Magnus Carlsen at Norway Chess 2025

Indian Grandmaster D Gukesh achieved a historic victory over World Chess Champion Magnus Carlsen at the Norway Chess 2025 tournament, marking his first classical win against Carlsen and a major milestone in his career.

After losing to Carlsen in the first round, Gukesh showed remarkable resilience in the rematch, overturning a losing position to secure victory in a tense endgame.

Gukesh opened with 1.e4; Carlsen responded with the Berlin Defense.

Despite Carlsen’s strong control and 98.7% accuracy mid-game, a critical mistake at move 44…f6 gave Gukesh the advantage.

Under intense time pressure, Carlsen’s blunder at 52…Ne2+ allowed Gukesh to outmaneuver him and win.

Glenn Maxwell Announces Retirement from One-Day International Cricket

Star Australian all-rounder Glenn Maxwell announced his retirement from One-Day Internationals (ODIs), concluding a distinguished 13-year career in the format.

Maxwell debuted in August 2012 and played 149 ODIs, scoring 3,990 runs and taking 77 wickets.

He is a part of Australia’s ICC World Cup–winning squads in 2015 and 2023.

Last ODI match was against India in the Champions Trophy 2025

He chose to prioritize preparation for the 2026 T20 World Cup in India and Sri Lanka, the Big Bash League, and other global commitments.

Maxwell’s dynamic batting and handy bowling made him a key contributor to Australia’s white-ball success, leaving a lasting impact on the game.

 

OBITUTARY

Wildlife And Tiger Conservationist Valmik Thapar

Valmik Thapar, noted wildlife and tiger conservationist, died at 73 in Delhi on May 31, 2025.

Valmik Thapar is known for evocative photographs and authoring nearly 50 books on tigers, especially those in Ranthambore, Rajasthan.

He served on several government committees, including the National Board for Wildlife and a Supreme Court empowered committee on wildlife.

He was a founder of the Ranthambhore Foundation, an NGO working with about 100 villages around the Ranthambhore Tiger Reserve.

He was critical of the implementation of Project Tiger (launched in 1972), which aimed to restore India's tiger population through forest reserves and tiger corridors.

He is famous for books like "Land of the Tiger" (1997) and "Tiger Fire", and for producing wildlife films, including the BBC series Land of the Tiger.

 

IMPORTANT DAYS

World Bicycle Day

On the 3rd June, World Bicycle Day 2025 is celebrated all over the world.

World Bicycle Day is celebrated all over the globe every year on the 3rd of June to recognize the versatility and uniqueness of the bicycle, as well as its reliability and sustainability as a mode of transportation.

World Bicycle Day 2025 with the theme 'Cycling for a Sustainable Future'.

History

In February 2015, The Movement Begun Leszek Sibilski, a sociology professor and cycling and physical education activist, writes a blog post for the World Bank titled, 'Cycling Is Everyone’s Business.'

In February 2016, World Bicycle Day Gains Momentum. Professor Sibilski publishes another blog post for the World Bank titled, 'Why is there no world day for the bicycle?'

In March 2016, Sibilski appeared at Scientists for Cycling and Sibilski spoke at the Scientists for Cycling colloquium in Taipei, Taiwan, and argues for a World Bicycle Day.

On April 12, 2018, Stamp of Approval happened and The United Nations officially designated June 3 as World Bicycle Day.