Welcome to Plutus Academy’s Daily Current Affairs — 3 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

VB-G RAM G Replaces MGNREGA; Floor Wage of ₹300 Notified

The Centre notified a floor wage of ₹300 per day under the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin) [VB-G RAM G] Act, 2025, which came into effect from 1 July 2026, replacing the two-decade-old MGNREGA, 2005. Guaranteed employment has been raised to 125 days per rural household per year, up from 100 days, marking roughly a 10% hike over the national average notified daily wage.

General Dhiraj Seth Takes Charge as 31st Chief of Army Staff

General Dhiraj Seth formally assumed charge as the 31st Chief of the Army Staff (COAS) of the Indian Army, succeeding General Upendra Dwivedi. Commissioned into the Armoured Corps in December 1986, he is the first officer from the Armoured Corps to lead the force since 1997.

SHE-LEAPS Platform Launched for Rural Women Entrepreneurs

The SHE-LEAPS platform was launched at the Rashtriya Gramin Vikas Sammelan in New Delhi. The mobile application, developed by the Digital India Corporation and implemented under the LokOS platform, supports women-led enterprises and self-help groups in rural India.

IndiaSkills Competition 2026–27 Launched Across 63 Categories

The Union Government launched IndiaSkills Competition 2026–27, India’s flagship skill competition, to identify, nurture and showcase talented youth across 63 industry-relevant skill categories, feeding into the WorldSkills pipeline.

Green Urea Push: Pre-EoI Meeting Held at PDIL, Noida

The Department of Fertilisers held a pre-Expression of Interest meeting at Projects & Development India Limited (PDIL), Noida, to establish Green Urea plants in India. Green Urea is produced using renewable hydrogen and captured CO₂ instead of fossil feedstocks, while retaining the same nutrient value as conventional urea.

🌐 International News

US–Iran Talks Report ‘Positive Progress’; Pause for Funeral Commemorations

US and Iranian officials wrapped up a round of indirect talks in Doha with both sides reporting “positive progress”. Qatari and Pakistani mediators said the next meetings would be scheduled after funeral commemorations in Iran running from 4 to 9 July. Separately, Iran’s joint military command warned that oil tankers in the Strait of Hormuz must use its approved routes or face a “forceful response”, keeping energy markets on edge.

Russia Launches Large-Scale Missile and Drone Attack on Kyiv

Russia carried out a large-scale overnight attack on Kyiv using ballistic and cruise missiles and drones, killing several people and damaging residential infrastructure, as the war in Ukraine continued to escalate.

Damascus Cafe Blast Kills Five

An improvised explosive device detonated in a popular cafe in Damascus, Syria, killing five people, as Syrian security forces launched a hunt for the attackers.

US Economy Adds Just 57,000 Jobs in June

The US economy added only 57,000 jobs in June 2026, a worrying signal of slowing hiring momentum, with wage growth also remaining subdued — strengthening market expectations of further Federal Reserve rate cuts.

🏦 News Related to Indian Banking and Finance

RBI’s New Integrated Ombudsman Scheme in Effect from 1 July

The RBI’s new Integrated Ombudsman Scheme came into effect from 1 July 2026, streamlining grievance redressal across banks, NBFCs and payment system participants under a single ‘One Nation, One Ombudsman’ framework, alongside a finalised digital fraud compensation framework for bank customers.

NPCI Ties Up with HSBC India and JP Morgan for Real-Time FX on International UPI

The National Payments Corporation of India (NPCI) partnered with HSBC India and JP Morgan Payments to enable real-time foreign-exchange settlement for international UPI payments, a major step in taking UPI global.

SEBI Launches GARUDA Green Channel for AIFs

SEBI launched the GARUDA Green Channel Framework for Alternative Investment Funds (AIFs), providing a faster registration and approval route, while the RBI separately tightened oversight of NBFCs under its revised scale-based regulation framework.

Tenure of RBI Deputy Governor Swaminathan J. Extended

The Centre extended the tenure of RBI Deputy Governor Swaminathan J. by two years with effect from 26 June 2026, providing continuity in the central bank’s supervision portfolio.

💱 News Related to International Banking and Finance

IMF Trims Global Growth Forecast to 3.1% for 2026

The IMF revised its global growth forecast for 2026 down to 3.1% (from 3.4% in 2025), warning that emerging-market and developing economies will bear the brunt of the Iran conflict’s repercussions. It also raised its 2026 inflation forecast to 2.8% for advanced economies and 5.5% for emerging markets.

World Bank Sees 2.5% Global Growth; Fed Seen Cutting Once More

The World Bank’s Global Economic Prospects projects global growth slowing to 2.5% in 2026, with EMDEs facing their weakest per-capita income growth since the pandemic. Markets expect one further 25-bps Fed rate cut (terminal rate near 3.5%), while the ECB is expected to stay on hold through 2026. The IMF’s SDR interest rate stood at 2.811% as on 2 July 2026.

🏉 International Sports Events

Wimbledon 2026: Zverev Cruises into Third Round

World No. 3 Alexander Zverev of Germany defeated France’s Valentin Royer 6-1, 6-3, 7-6(3) in straight sets on 2 July to storm into the third round of Wimbledon 2026 at the All England Club, London.

FIFA World Cup 2026 Knockouts Continue Across North America

The expanded 48-team FIFA World Cup 2026, hosted by the USA, Canada and Mexico (11 June–19 July), moved deeper into its knockout rounds, with quarter-final line-ups taking shape ahead of the 19 July final.

India’s White-Ball Tour of England Continues

India’s limited-overs tour of England (1–19 July 2026) — comprising 5 T20Is and 3 ODIs — continued, with the team building on strong batting form shown in the rain-hit series opener at Chester-le-Street.

👤 Major National or International Appointments

Ravi Shankar Appointed Executive Director of RBI

The Reserve Bank of India appointed Ravi Shankar as its new Executive Director, strengthening the central bank’s senior leadership.

Rajiv Kumar — Part-Time Chairman of HDFC Bank

HDFC Bank appointed former Chief Election Commissioner Rajiv Kumar as its Part-Time Chairman for a period of three years.

Neelkanth Mishra — India’s Executive Director at the World Bank

Neelkanth Mishra was appointed India’s Executive Director at the World Bank for a three-year term, representing India, Bangladesh, Bhutan and Sri Lanka on the World Bank Board.

John Ternus to Become CEO of Apple

Apple announced that John Ternus, its hardware engineering chief, will become CEO of Apple effective 1 September 2026, succeeding Tim Cook.

❌ Resignation or Dismissal

Tim Cook to Step Down as Apple CEO After 15 Years

Tim Cook will step down as CEO of Apple after leading the company since 2011; he will transition to the role of Executive Chairman from 1 September 2026.

CFO Churn in Indian Banking

Rajeev Mantri resigned as CFO of Bandhan Bank to join Axis Bank, part of a wider reshuffle in which Puneet Sharma (Axis Bank) moved as CFO-designate of HDFC Bank, succeeding Srinivasan Vaidyanathan.

🔬 Major Inventions and Discoveries

AI Unlocks a Century of Sun Data at Kodaikanal Solar Observatory

Scientists at the Kodaikanal Solar Observatory used artificial intelligence to analyse over a century of hand-drawn solar observations (1916–2007), enabling researchers to track long-term changes in the Sun’s magnetically active regions — a breakthrough for space-weather prediction.

ISRO’s GISAT-1A Earth-Observation Satellite Set for July Launch

ISRO’s GISAT-1A, a Geo Imaging Satellite operating from geostationary orbit, is scheduled for launch in July 2026. It will provide near-continuous observation of the Indian subcontinent and quick monitoring of natural hazards and disasters.

📝 Practice Questions — Current Affairs Quiz

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