Welcome to Plutus Academy’s Daily Current Affairs — 1 July 2026. Today’s update covers the most important national and international developments, banking and finance news, sports events, key appointments, resignations, and science breakthroughs, curated from credible newspapers, news agencies and government sources (The Hindu, PIB, RBI, IMF, World Bank, PTI, Business Standard) for Bank PO, SSC, RRB and UPSC aspirants.

🇮🇳 National News

General Dhiraj Seth Assumes Charge as 31st Chief of the Army Staff

General Dhiraj Seth took over as the 31st Chief of the Army Staff (COAS) on 30 June 2026, succeeding General Upendra Dwivedi, who superannuated after more than four decades of service. Commissioned into the Armoured Corps in December 1986 and previously the Vice Chief of the Army Staff, General Seth is the first officer from the Armoured Corps to lead the Army since 1997. A ceremonial Guard of Honour was held at the South Block Lawns, New Delhi.

‘Rural Internal Audit Portal’ Launched at Rashtriya Gramin Vikas Sammelan

Union Minister for Rural Development Shri Shivraj Singh Chouhan launched the Rural Internal Audit Portal during the Rashtriya Gramin Vikas Sammelan at the Pusa Campus, New Delhi. The AI-enabled portal is a first-of-its-kind unified digital platform for end-to-end management of internal audits — covering both risk-based and compliance audits — to strengthen transparency and accountability in rural development schemes.

Cabinet Clears Additional ₹30,000 Crore for NIIF

The Union Cabinet approved an additional ₹30,000 crore equity investment by the Government of India in the National Investment and Infrastructure Fund (NIIF). The move is aimed at scaling up long-term infrastructure financing and crowding in domestic and global institutional capital.

🌐 International News

India and Saudi Arabia Sign MoU on Water Resource Management

India and Saudi Arabia signed a Memorandum of Understanding (MoU) for cooperation in water resource management, covering areas such as water conservation, treatment, and efficient use. The pact deepens the strategic partnership between the two nations and supports knowledge-sharing on sustainable water technologies.

PM Modi Concludes State Visit to Seychelles

Prime Minister Shri Narendra Modi concluded a State Visit to Seychelles (27–29 June 2026) as the Guest of Honour at the country’s 50th National Day (Golden Jubilee of Independence) celebrations, reaffirming India’s SAGAR vision and its role as a net security provider in the Indian Ocean Region.

Israel’s Cabinet Moves to Recognise Armenian Genocide

Israel’s Cabinet approved a proposal to designate the violence against Armenians by the Ottoman Empire during the First World War as a genocide — a symbolic and diplomatically significant step amid strained ties between Israel and Turkey.

🏦 News Related to Indian Banking and Finance

RBI Announces ₹30,000 Crore Switch Auction of G-Secs

The Reserve Bank of India (RBI) announced a switch (conversion) auction of ₹30,000 crore worth of government securities to smoothen the Centre’s debt-redemption profile. Shorter-tenor bonds maturing between 2027 and 2030 are being exchanged for longer-tenor securities maturing between 2035 and 2060, easing near-term repayment pressure.

RBI Eases Norms for Small NBFCs

The RBI issued final guidelines allowing certain small Non-Banking Financial Companies (NBFCs) with assets below ₹1,000 crore — that neither use public funds nor maintain a customer interface — to be classified as “Unregistered Type I NBFCs” and exempted from registration. Existing eligible NBFCs may apply for deregistration by 31 December 2026.

RBI Overhauls Natural-Calamity Loan Framework

The RBI revamped its framework for loans affected by natural calamities, requiring banks to invoke resolution plans within 45 days of a calamity declaration and implement them within 135 days. Relief applies to borrowers whose accounts were standard and not overdue by more than 30 days, ensuring faster support to disaster-hit borrowers.

💱 News Related to International Banking and Finance

Global Growth Seen Slowing to 2.5% in 2026

The World Bank projected global growth slowing to 2.5% in 2026, warning that emerging-market and developing economies face their weakest per-capita income growth since the pandemic, driven largely by higher energy prices linked to the Middle East conflict.

IMF Raises Inflation Forecasts

The International Monetary Fund (IMF) raised its advanced-economy inflation forecast for 2026 from 2.2% to 2.8% and its emerging-market inflation projection from 4.8% to 5.5%, citing sharp energy-price increases and expectations of tighter monetary policy.

IMF, World Bank Signal Surge in Emergency Financing Demand

IMF Managing Director Kristalina Georgieva said near-term demand for IMF financing could reach USD 50 billion, while World Bank President Ajay Banga pointed to USD 20–25 billion in rapid financing, as debt-service burdens worsen for low- and lower-middle-income countries.

🏉 International Sports Events

Wasim Jaffer Named Hyderabad Cricket Mentor

Former India opener Wasim Jaffer was appointed mentor of the Hyderabad cricket team ahead of the 2026–27 domestic season, signing a two-year deal to work with both the senior and age-group sides.

India Women Reshuffle Asian Games Squad

The Indian women’s cricket selectors dropped Yastika Bhatia and picked G. Kamalini for the Asian Games, with all-rounder Shreyanka Patil named subject to a fitness clearance, as India firms up its squad for the multi-sport event.

👤 Major National or International Appointments

General Dhiraj Seth — 31st Chief of the Army Staff

General Dhiraj Seth assumed office as the 31st COAS on 30 June 2026, becoming the first Armoured Corps officer to hold the post since 1997.

Rohit Jain — RBI Deputy Governor

Rohit Jain, an Executive Director of the RBI, was appointed a Deputy Governor of the Reserve Bank of India for a three-year term, strengthening the central bank’s senior leadership.

❌ Resignation or Dismissal

RBI Cancels Paytm Payments Bank Licence

The Reserve Bank of India cancelled the licence of Paytm Payments Bank Limited, citing non-compliance with provisions of the Banking Regulation Act. The action affects a large network of business correspondents and employees and underscores the RBI’s firm stance on regulatory compliance.

🔬 Major Inventions and Discoveries

Chandrayaan-3 ‘Hop’ Experiment Reveals Lunar Regolith Secrets

Analysis from Chandrayaan-3’s “Hop” experiment — in which the Vikram lander briefly re-lifted and re-landed — revealed significant regolith (lunar soil) heterogeneity at the Moon’s South Pole. The finding deepens understanding of the surface properties of the unexplored polar region and aids planning for future landings.

ISRO Launches Indian Space Hackathon 2026

ISRO launched the Indian Space Hackathon 2026, inviting UG, PG and PhD students across India to solve real-world challenges in space technology, satellite analysis, climate science and artificial intelligence, with idea submissions open until 1 July 2026.

📝 Practice Questions — Current Affairs Quiz

Test your knowledge with these 5 questions in SSC/Bank PO format