Daily Current Affairs – 19-06-2026

National News

Rajya Sabha Elections in Jharkhand and Mizoram

The Rajya Sabha elections held in Jharkhand and Mizoram resulted in victories for the ruling parties and allied candidates. In the 81-member Jharkhand Legislative Assembly, the Jharkhand Mukti Morcha (JMM)-led INDIA alliance had 56 MLAs, while the National Democratic Alliance (NDA) had 24 MLAs. For the two Rajya Sabha seats, Baidyanath Ram of JMM, Pranav Jha of Congress, and BJP-backed Independent candidate Parimal Nathwani contested. A minimum of 28 MLA votes was required for election. Baidyanath Ram secured 30 votes and Parimal Nathwani won with 28 votes, while Pranav Jha received 20 votes. The election was held following the death of Shibu Soren, founder of JMM, and the completion of the Rajya Sabha term of Deepak Prakash. In Mizoram, the 40-member Legislative Assembly has 27 MLAs belonging to the Zoram People’s Movement (ZPM). ZPM candidate Laltluangkima won the lone Rajya Sabha seat with 26 votes. Following these elections, the strength of the NDA in the Rajya Sabha increased to 150 members, while 163 members are required for a two-thirds majority.

PM-KISAN 23rd Installment and Crop Insurance Schemes

The PM-KISAN Scheme, launched in 2019, provides financial assistance to farmers through direct benefit transfer. Under the 23rd installment, 9.44 crore farmers across India will receive ₹2,000 each directly into their bank accounts, with a total transfer of ₹18,880 crore. The transaction will be launched by Prime Minister Narendra Modi during his visit to Hooghly district, West Bengal. In West Bengal, 45.35 lakh farmers will receive financial assistance amounting to ₹907 crore. According to Union Agriculture Minister Shivraj Singh Chouhan, the PM-KISAN scheme has received a total allocation of ₹4.46 lakh crore since its launch in 2019, and farmers in West Bengal alone have received ₹15,055 crore. During the Hooghly event, the Prime Minister will also launch the Prime Minister’s Comprehensive Crop Insurance Scheme and the Restructured Weather-Based Crop Insurance Scheme, which have a combined allocation of ₹12,200 crore.

EPF Interest Rate for 2025–26

The Central Government has approved an 8.25% interest rate on Employees’ Provident Fund (EPF) deposits for the financial year 2025–26. The interest amount will be credited to the accounts of more than 7 crore EPF subscribers during June 2026. The interest rate was finalized in March 2026 during a meeting chaired by Union Minister for Labour and Employment Mansukh Mandaviya. The recommendation was made by the highest decision-making body of the Employees’ Provident Fund Organisation (EPFO) and was subsequently sent to the Ministry of Finance for final approval. With the approval of the Finance Ministry, the interest amount will be credited to subscribers’ accounts. The EPF interest rate has remained at 8.25% for three consecutive financial years beginning from 2023–24.

Namo AVGC Training Centre in Chennai

The Namo AVGC Training Centre was inaugurated in Pallavaram, Chennai by Union Minister of State for Information and Broadcasting L. Murugan. The centre has been established jointly by the St. Thomas Mount and Pallavaram Cantonment Board and the National Film Development Corporation (NFDC) to provide long-term non-residential skill development training in 3D Animation and Visual Effects (VFX). The training centre functions at the Arignar Anna Cantonment Higher Secondary School campus in Pallavaram. The programme will provide 990 hours of training, and in the first phase, 50 students have been selected in two batches. The WAVES (World Audio Visual and Entertainment Summit) held in Mumbai and the establishment of the Indian Institute of Creative Technology at a cost of ₹400 crore were highlighted as important developments in the AVGC (Animation, Visual Effects, Gaming and Comics) sector. Under the National Education Policy, AVGC courses are being introduced in 15,000 schools and 500 colleges across the country.

IRDAI Forms AI Working Group

The Insurance Regulatory and Development Authority of India (IRDAI) has constituted a seven-member Working Group on Artificial Intelligence (AI) to develop governance frameworks, best practices, and safeguards for the insurance sector while ensuring policyholder data protection. The working group is chaired by Sandeep K. Shukla, Director of IIIT Hyderabad. The group will study the impact of Artificial Intelligence (AI), including challenges and risks, and assess its implications for insurers, policyholders, and the insurance ecosystem. It will evaluate the adoption, usage, maturity, deployment, and existing AI governance in the insurance sector, assess the use of AI systems by regulated entities, examine the impact of Frontier AI tools, recommend security frameworks against AI-driven automated attacks, explore the need for sector-wide stress tests, and suggest an AI governance framework for ethical, transparent, and explainable use of AI in areas such as insurance claims and fraud prevention.

Supreme Court on Footpath Rights

The Supreme Court of India, in a judgment delivered by a bench comprising Justice P.S. Narasimha and Justice A.S. Chandurkar, held that the right to walk on a demarcated footpath is a Fundamental Right. The Court stated that this right forms part of the Right to Freedom of Movement under Article 19(1)(d) and the Right to Life and Personal Liberty under Article 21 of the Constitution of India. The judgment declared that the right of pedestrians to walk on demarcated footpaths has priority over the movement of motor vehicles. The Court supported the creation of a regulatory body for implementing this right and directed that a copy of the judgment be sent to the Ministry of Housing and Urban Affairs, Ministry of Rural Development, and Ministry of Road Transport and Highways. The Court also stated that urban development authorities, municipal corporations, municipalities, and panchayats have the responsibility to demarcate, construct, maintain, and protect footpaths and pedestrian infrastructure.

International News

Emirates NBD Acquires Majority Stake in RBL Bank

The board of RBL Bank, a private sector bank in India, has approved the allotment of a 60% stake to Emirates NBD Bank of Dubai. Under this transaction, more than 92.91 crore shares worth ₹26,015 crore at ₹280 per share will be allotted to Emirates NBD Bank. Following this investment, Emirates NBD Bank has become the major shareholder of RBL Bank, and the bank’s board of directors has been reconstituted. Directors Gopal Jain and Veena Mankar resigned from their positions, and five new non-executive directors were appointed based on the recommendation of Emirates NBD Bank. The Reserve Bank of India (RBI) approved the acquisition of up to 74% stake by Emirates NBD Bank in April 2026, and the Union Finance Ministry granted approval in May 2026. Under the new arrangement, Emirates NBD Bank will maintain a minimum 51% stake in RBL Bank, which will function as a subsidiary of a foreign bank in India.

US–Iran Peace Agreement

A peace agreement was signed between the United States and Iran after 111 days of conflict and tension. The agreement was signed electronically by US President Donald Trump and Iranian President Masoud Pezeshkian. The conflict had continued from February 28, and a temporary ceasefire was implemented on April 8. The agreement was signed before the scheduled date of June 19 in Geneva, Switzerland. Pakistan and Qatar participated in mediation efforts, and Pakistan Prime Minister Shehbaz Sharif also signed the agreement as a mediator. The agreement includes a 14-point plan, which provides for an immediate ceasefire, mutual respect for sovereignty, continuation of negotiations, reopening of the Strait of Hormuz, withdrawal of the US naval blockade, removal of economic sanctions on Iran, release of Iranian assets frozen abroad, and establishment of monitoring committees. The agreement also states that Iran should not manufacture nuclear weapons and that a final peace agreement will be signed with the approval of the United Nations Security Council. A 300 billion US dollar reconstruction fund for Iran is also proposed under the agreement.

Indian Deposits in Swiss Banks Decline

A major agreement between India and Switzerland was signed in 2018, under which financial details of Indian account holders in Swiss banks are shared annually with the Government of India. The financial information for 2025 was submitted to the Central Government. According to the data, the deposits made by Indians in Swiss banks have declined by more than 8 percent. The total deposits held by Indians in Swiss banks currently stand at ₹36,793 crore. In the list of countries with the highest investments in Swiss banks, the United Kingdom ranks first, followed by the United States in second place and France in third place. Other countries in the list include the West Indies, Germany, Hong Kong, the Netherlands, the United Arab Emirates, and Singapore. India currently ranks 46th among countries with deposits in Swiss banks.

Climate Change and Sea Level Rise in Asia

According to the World Meteorological Organization (WMO) report titled “State of the Climate in Asia 2025”, sea levels in Asia reached their highest level since satellite observations began in 1999. During 1999–2025, the rate of sea-level rise along the northern Indian Ocean coast exceeded the global average of 3.6 mm per year, reaching approximately 4.9 mm per year along the Indian coast and more than 6 mm per year in the Kuroshio Current region of the North Pacific. The report states that all 23 monitored glaciers in the region experienced significant ice loss due to rising temperatures. During 1991–2025, Asia warmed nearly twice as fast as during 1961–1990, and the average temperature in 2025 was 0.96°C ± 0.08 above the 1991–2020 average. The report also recorded glacial lake outburst floods and glacier collapses in 2025. In Pakistan, monsoon floods caused more than 1,000 deaths and affected over three million people. Cyclone Ditwah brought heavy rainfall to Sri Lanka, where nearly 10% of the annual rainfall occurred within 24 hours, causing more than 640 deaths. The report emphasizes the importance of impact-based forecasting and early warning systems in reducing disaster impacts.

Tamil Nadu News

Tamil Nadu Investor Facilitation Commission

The Government of Tamil Nadu has announced the establishment of the Tamil Nadu Investor Facilitation Commission to attract investments from multinational companies. The commission will function under the chairmanship of the Chief Secretary. The state has set a target of transforming Tamil Nadu into a $1.5 trillion economy by 2036. A new industrial policy will be introduced to promote industrial growth and economic stability. The single-window clearance system for industries, particularly for Micro, Small and Medium Enterprises (MSMEs), will be strengthened and upgraded into a digital platform to provide faster approvals. Special incentive schemes will be implemented to encourage domestic and global investments in the state. Companies investing more than ₹200 crore or providing employment to more than 5,000 persons will receive expedited approvals for establishing industries. The government has also proposed the use of Artificial Intelligence (AI) tools to improve government administration and e-governance services. Efforts to protect Tamil Nadu’s 69% reservation policy will continue.

Economy News

HDFC Bank Chairman Tenure Extension

The Reserve Bank of India (RBI) has approved a three-month extension of the tenure of Keki Mistry as the interim part-time Chairman of HDFC Bank. He will continue in the position until 18 September 2026 or until the appointment of a regular part-time chairman, whichever is earlier. The approval was granted on 18 June 2026. HDFC Bank, the country’s largest private sector bank, has been searching for a permanent chairman following the resignation of Atanu Chakraborty in March 2026 from the posts of part-time Chairman and Independent Director. After his resignation, the RBI approved the appointment of Keki Mistry as interim part-time chairman with effect from 19 March 2026 for three months, and the present approval extends his tenure by another three months.

Bata India Appoints New MD & CEO

Bata India has appointed Sanjay Rao as its new Managing Director (MD) and Chief Executive Officer (CEO), succeeding Gunjan Shah after the completion of his five-year tenure. Rao joins Bata India from Nike, where he served as Senior Director, Nike Retail, overseeing the France and Benelux markets. According to the company’s regulatory filing, he has over two decades of experience in retail and consumer leadership across India, South Asia, China, and Europe. Prior to Nike, he worked with Inditex and played a key role in establishing Zara operations in India through a joint venture with the Tata Group. He has also served as Country Director of Guess in France and holds an MBA from INSEAD. Following the announcement of his appointment, Bata India shares rose by 17%.

RBI Cancels Co-operative Bank Licence

The Reserve Bank of India (RBI) has cancelled the licence of Shree Mahalaxmi Urban Co-operative Credit Bank, a Karnataka-based co-operative bank, due to its deteriorating financial position. The Registrar of Co-operative Societies, Karnataka, has been requested to issue an order for winding up the bank and appoint a liquidator to manage the closure process.

States’ News

Japanese Encephalitis Deaths in Assam

In Assam, 7 deaths due to Japanese Encephalitis (JE) and 32 deaths due to Acute Encephalitis Syndrome (AES) were reported from the beginning of 2026 up to June 17, according to the National Health Mission (NHM), Assam. National data shows that nearly 62% of all Japanese Encephalitis deaths in India since 2018 have occurred in Assam. The disease outbreak generally occurs between May and October, with peak incidence during July and August. Abhijit Sarma, Executive Director of NHM Assam, stated that Japanese Encephalitis (JE) is one of the causes of Acute Encephalitis Syndrome (AES).