National News

Inauguration of the First National Conference of Urban Local Bodies (ULBs) Chairpersons

• Lok Sabha Speaker Om Birla inaugurated the first National Conference of Chairpersons of Urban Local Bodies (ULBs) on 3rd July 2025 at the International Centre for Automotive Technology (ICAT) located in Manesar, Gurugram, Haryana.

Theme of the Conference:

"Savitribai Phule National Institute of Women and Child Development"

• The official name of the National Institute of Public Cooperation and Child Development (NIPCCD) has now been changed to "Savitribai Phule National Institute of Women and Child Development."
• This renaming has been done in honour of Savitribai Phule, a pioneering social reformer and a leading advocate of women's rights in India.

State Specific News

'Mukhyamantri Guru-Shishya Parampara Yojana' 2025–26

• The Government of Bihar has launched the 'Mukhyamantri Guru-Shishya Parampara Yojana' in the year 2025–26.
• The primary objective of this scheme is to preserve and promote the state's rare, endangered, and traditional art forms—such as folk tales, dances, musical instruments, paintings, classical traditions, and more—and to transmit them to the next generation.

Bihar:

23rd Regional Meeting of OPCW

• The Organisation for the Prohibition of Chemical Weapons (OPCW), in collaboration with India’s National Authority for Chemical Weapons Convention (NACWC), organized the 23rd Regional Meeting of National Authorities of States Parties in Asia from 1st to 3rd July 2025 at Vanijya Bhawan, New Delhi.

Organisation for the Prohibition of Chemical Weapons (OPCW):

India's First Integrated Flood Forecasting Platform "C-FLOOD"

• Union Jal Shakti Minister C.R. Patil launched India's first integrated flood forecasting platform "C-FLOOD" on 2nd July 2025.
• This is a web-based platform developed in collaboration with C-DAC (Centre for Development of Advanced Computing), CWC (Central Water Commission), and NRSC (National Remote Sensing Centre).

International news

Sheikh Hasina Sentenced to Six Months Imprisonment

• Bangladesh’s International Crimes Tribunal (ICT) has sentenced former Prime Minister and Awami League chief Sheikh Hasina to six months of imprisonment in a contempt of court case.
• The verdict was based on a viral audio clip circulated on social media, in which Sheikh Hasina was allegedly heard interfering with judicial proceedings and threatening the tribunal.

Bangladesh:

Satellite Internet Service Launched: Sri Lanka

• Elon Musk's company Starlink has officially launched its satellite internet service in Sri Lanka.
• With this launch, Sri Lanka becomes the third country in South Asia to receive Starlink's high-speed internet service, following Bhutan and Bangladesh, where the service was already operational.

Ghana’s Highest Civilian Honour

• Prime Minister Narendra Modi has been conferred with Ghana’s highest civilian award – the Officer of the Order of the Star of Ghana.
• This prestigious honour was bestowed during his historic visit to the West African nation, marking the first such recognition given to an Indian Prime Minister since the 1970.

Ghana :

Economy and Banking

Directive to Financial Institutions: RBI

• On 3rd July 2025, the Reserve Bank of India (RBI) issued a directive to banks and other financial institutions stating that no charges shall be levied on the transfer or prepayment/foreclosure of floating rate loans.
• This new rule will come into effect from 1st January 2026 and will apply to all floating rate loans sanctioned or renewed on or after this date.

Reserve Bank of India (RBI) :

India’s Pharmaceuticals Export

• According to the latest update from the Pharmaceuticals Export Promotion Council of India (Pharmexcil), India’s pharmaceutical exports rose by 7.38% year-on-year to reach USD 4.9 billion during the April–May period of FY26.

Related Facts:

‘RECLAIM’ Framework

• The Ministry of Coal will launch the ‘RECLAIM’ Framework (a Community Engagement and Development Framework) on 4th July 2025.
• The objective of this initiative is to make the process of mine closure in India more structured, equitable, and transparent, ensuring it is sustainable and inclusive for all stakeholders involved.

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