The South-North Commission on Development was formally launched by the Government of Germany at Hamburg Sustainability Conference (HSC).

About the Commission

• Independent global body comprising around 20 eminent members from the Global North and South, representing politics, business, academia, international organisations, and civil society.
• Purpose: Strengthen North–South cooperation, deepen engagement with the Global South, and build a global partnership network.
• Legacy: Revives the spirit of the Brandt Commission (1977–83), which addressed North–South inequalities and promoted international development cooperation.

RBI released the June 2026 edition of the Financial Stability Report (FSR). 

• The report reaffirms the resilience of India's financial system, with banks and NBFCs remaining strong due to robust capital, liquidity, profitability, low NPAs, and healthy credit growth.

About FSR

• It’s a half-yearly report published by the RBI since 2010.
• Prepared by: RBI's Financial Stability Unit under the guidance of the Financial Stability and Development Council (FSDC). 
• Objectives:
  • Assess the overall health of India's financial system; 
  • Identify emerging risks and vulnerabilities; 
  • Evaluate the resilience of banks and other financial institutions, etc.

VB-G RAM G Act, 2025 come into force, replacing the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005.

Key Provisions

• Centrally Sponsored Scheme: Shared responsibilities between Centre and States.
• Enhanced Guarantee: Mandates a statutory 125 days of guaranteed unskilled wage employment per rural household annually.
• Prompt Payments & Penalties: Wages must be paid weekly or within 15 days from closure of muster rolls.
• Unemployment Allowance: If employment not provided within 15 days, mandates an allowance at one-fourth of the notified wage for the first 30 days, and one-half thereafter.
• Agricultural Balance: Empowers States to notify up to a 60-day pause during peak sowing/harvesting seasons to secure farm labour.

The 170th anniversary of Santhal Hool is being celebrated across India.

About Santhal Hool (1855–1856)

• It was a major tribal uprising in the Rajmahal Hills (modern-day Jharkhand, Bihar and West Bengal) against British rule and oppressive landlords. 
• Led by: Four brothers, Sidho, Kanho, Chand, and Bhairav Murmu, along with sisters Phulo and Jhano.
• Core Causes: land alienation, oppressive taxation, forced labour, and debt under the Permanent Settlement.
• Major Outcomes: 
  • New District(Santhal Parganas): To give special administrative status;
  • Land Rights: Santhal Parganas Tenancy Act was enacted, banning the transfer of tribal land to non-tribals.

Work on India's first Petroglyph Conservation Park in Leh commenced with the systematic relocation of petroglyphs (ancient rock art) from vulnerable sites across Ladakh (such as Saboo Thang, Phyang Thang, Stakmo Thang, Likir Hill etc.).

• Petroglyphs are threatened by natural weathering, unregulated tourism, infrastructure development, human interference and lack of awareness.

About Petroglyphs

• Petroglyphs are rock carvings (rock paintings are called pictographs) made by pecking directly on the rock surface using a stone chisel and a hammerstone. 
• It is different from Geoglyphs which are a form of prehistoric rock art, created on the surface of laterite plateaus. They are made by removing a part of the rock surface through an incision, picking, carving or abrading. 

The full moon appearing in June is popularly known as the Strawberry Moon.

About Strawberry Moon

• Despite its name, the Moon does not appear strawberry-coloured.
  • It is named so by Indigenous North American tribes (like the Algonquian) to signal the ripening of wild strawberries.
• Low in the Sky: Occurs near the Northern Hemisphere's summer solstice, so it follows the lowest path across the sky.
• Appears Larger: Seems bigger near the horizon due to the Moon Illusion (an optical illusion).
• Golden/Orange Glow:  Caused by Rayleigh scattering where moonlight passes through more of Earth's atmosphere, scattering blue light and giving it a warm golden or orange appearance.
• Seasonal Significance: Considered the first full moon of summer in the Northern Hemisphere.

The report was published by the Global Network Against Food Crises (GNAFC). 

• It provides a global assessment of acute food insecurity, malnutrition, and forced displacement across countries experiencing food crises

Key Findings of the Report

• Food Insecurity: 266 million people in 47 countries/territories faced acute food insecurity in 2025 (22.9% of the analysed population).
• Drivers of Food Insecurity: Conflict remained the biggest driver, followed by weather extremes and economic shocks.
• Funding: Humanitarian funding declined to 2016–17 levels, despite worsening global food insecurity.
• Forcible Displacement: Number decreased slightly to 85.1 billion in 2025, 74% of whom were internally displaced. 

Ministry of Home Affairs launched FCRA 2.0 Portal and e-OCI (Electronic Overseas Citizen of India) Card. 

About e-OCI Card

• Purpose: To transform OCI services for the global Indian diaspora through a fully digital system.
• Significance: Itreduces paperwork and administrative costs, strengthens data management and centralised tracking, and integrates with digital immigration systems for real-time verification at airports.

About FCRA 2.0 Portal

• Purpose: To simplify compliance under the Foreign Contribution (Regulation) Act.
• It is hosted on the National Government Cloud ('MeghRaj') and is integrated with major government databases and banks, including PAN, Aadhaar, OCI, NGO Darpan, and the ICAI’s UDIN system.

Greece becomes the latest country to join the digital payment network of UPI.

• UPI is live in eight other countries also, including the UAE, Singapore, Bhutan, Nepal, Sri Lanka, France, Mauritius and Qatar.

About UPI:

• It is an instant payment system developed by the National Payments Corporation of India (NPCI).
• Features of UPI:
  • Immediate money transfer through mobile device 24*7 and 365 days.
  • Single mobile application for accessing different bank accounts.
  • 2 Factor Authentication- Aligned with the Regulatory guidelines and provides for a very secure and seamless payment.
  • QR Code and intent based payments.