Welcome to Plutus Academy’s Daily Current Affairs — 2 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 (PIB, RBI, The Hindu, PTI, Reuters, Bloomberg, Business Standard) for Bank PO, SSC, RRB and UPSC aspirants.

🇮🇳 National News

Digital India Programme Completes 11 Years

The Digital India Programme completed 11 years on 1 July 2026 (launched 1 July 2015). The programme has evolved from a digital-access mission into a frontier-technology mission anchored in AI and semiconductors. India has built one of the world’s largest Digital Public Infrastructure (DPI) ecosystems — spanning identity (Aadhaar), payments (UPI) and service delivery (DigiLocker, UMANG) — now being exported to multiple countries.

GST Completes 9 Years; June Collections Rise 13.9%

The Goods and Services Tax (GST) completed nine years of its rollout on 1 July 2026 (launched 1 July 2017). Gross GST collections for June 2026 rose 13.9% year-on-year to ₹1,94,812 crore, reflecting robust consumption and improved compliance.

Ministry of Tourism Signs MoU with Google India

The Ministry of Tourism signed a Memorandum of Understanding with Google India to enhance the digital visibility of India’s tourism destinations. This follows the NITI Aayog–Ministry of Tourism report “Unlocking Growth in Tourism and Hospitality Sector”, which proposes a 90-day multiple-entry Visa-on-Arrival, a single liquor/health-trade licence and a Tourist Refund Scheme.

🌐 International News

United States Declines to Renew USMCA for a Full 16-Year Term

On 1 July 2026 — the joint-review deadline — the United States decided not to renew the US–Mexico–Canada Agreement (USMCA) for another 16-year term, opting instead for annual reviews. The pact remains in force until at least 2036 unless a member withdraws, but yearly reviews open the door to repeated renegotiation of North American trade rules affecting autos, farm goods and energy.

Gulf Diplomacy Intensifies Over Iran Conflict

Qatar’s Prime Minister met US envoys as mediation efforts continued in the ongoing Iran conflict, with Tehran holding firm on its conditions. Ensuring safe navigation through the Strait of Hormuz — a chokepoint for about a fifth of global oil trade — remains central to the talks, with the US and Gulf partners working on alternative shipping arrangements.

South Africa Deploys Police as Anti-Immigration Protests Spread

South Africa deployed thousands of police across multiple cities as deadly anti-immigration protests spread, drawing international concern over the safety of migrant communities.

🏦 News Related to Indian Banking and Finance

RBI’s Stricter Loan-Recovery Norms Take Effect from 1 July

The Reserve Bank of India’s tightened recovery and repossession norms came into effect from 1 July 2026 to protect borrowers from harassment. Lenders must resolve borrower complaints before initiating recovery, disclose the identity of recovery agents in advance, and agents may contact only the borrower or guarantor — strictly between 08:00 and 19:00. Threats, abusive language, public shaming and harassment of relatives or colleagues are prohibited.

Nine Years of GST: A Banking & Economy Milestone

With June 2026 gross GST revenue at ₹1,94,812 crore (up 13.9% YoY), monthly collections have stayed near the ₹2-lakh-crore mark, strengthening the Centre’s fiscal position — a key data point for banking-exam aspirants.

💱 News Related to International Banking and Finance

USMCA Shift Raises ‘Anxiety Tax’ on North American Supply Chains

Analysts warned that moving the USMCA to annual reviews injects long-term tariff uncertainty into continental supply chains. The Tax Foundation estimates that removing USMCA exemptions entirely could raise US taxes by about USD 466 billion over 2027–2036 and shave 0.1% off US output.

Central Banks Diverge; IMF Sets SDR Rate at 2.811%

Major central banks remain split: the US Federal Reserve is in wait-and-see mode after late-2025 easing, the ECB is on hold amid an uneven European recovery, and the Bank of England — which cut rates four times in 2025 — is expected to deliver two more cuts in 2026. The IMF’s SDR interest rate was set at 2.811% effective 1 July 2026.

🏉 International Sports Events

IND vs ENG 1st T20I Washed Out After Abhishek, Shreyas Fifties

The first T20I of India’s tour of England at Chester-le-Street (1 July 2026) ended in no result after rain prevented England’s chase. Batting first, India posted 189/7, powered by Abhishek Sharma’s 59 off 24 balls and skipper Shreyas Iyer’s 68.

Wimbledon 2026: Djokovic Storms into Third Round

Novak Djokovic defeated Stefanos Tsitsipas 6-3, 6-4, 6-2 on 1 July to reach the third round of Wimbledon 2026, continuing his pursuit of a record-extending Grand Slam title.

FIFA World Cup 2026: Coaching Exits Mount

The FIFA World Cup 2026 (USA–Mexico–Canada) has triggered a wave of coaching exits: South Korea’s Hong Myung-bo resigned after a group-stage exit, Scotland’s Steve Clarke stepped down, Tunisia dismissed Sabri Lamouchi, and Ronald Koeman left after his side’s Round-of-32 elimination by Morocco on penalties.

👤 Major National or International Appointments

Ravi Agrawal Reappointed CBDT Chairman

The Appointments Committee of the Cabinet approved the reappointment of Ravi Agrawal as Chairman of the Central Board of Direct Taxes (CBDT) on contract from 1 July to 31 December 2026.

Shivam Puri — CEO of Cipla Health’s One India Business

Shivam Puri took charge as CEO of Cipla Health’s One India Business and joined the company’s Management Council, effective 1 July 2026.

❌ Resignation or Dismissal

Hong Myung-bo Resigns as South Korea Head Coach

Hong Myung-bo resigned as head coach of the South Korean national football team after its early FIFA World Cup 2026 exit (1-0 loss to South Africa). President Lee Jae-myung ordered a government investigation into the campaign and the coach-selection process.

Saudi Football Federation Chief Steps Down

Yasser Al Misehal, President of the Saudi Arabian Football Federation, resigned following the kingdom’s early World Cup exit.

🔬 Major Inventions and Discoveries

NASA–ISRO NISAR Mission: Full Global Data Release in July 2026

The NISAR (NASA–ISRO Synthetic Aperture Radar) mission — the largest space partnership between the two agencies, launched on 30 July 2025 — begins its full global release of calibrated radar data products in July 2026, transforming how scientists monitor earthquakes, glaciers, forests and groundwater worldwide.

NASA’s Cold Atom Lab Pushes Quantum Frontier on the ISS

NASA’s upgraded Cold Atom Laboratory aboard the International Space Station is producing ultra-cold matter just billionths of a degree above absolute zero, enabling quantum experiments impossible on Earth and paving the way for ultra-precise space sensors and navigation systems.

📝 Practice Questions — Current Affairs Quiz

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