News One Liner: 02-July-2025

  1. The Union Cabinet approved the National Sports Policy (NSP) 2025, aimed at holistic athlete development and establishing India as a global sports powerhouse.
  2. The Union Cabinet approved the Employment-Linked Incentive (ELI) Scheme—with a ₹99,446 crore budget—to generate 3.5 crore jobs between August 2025–July 2027.
  3. The Indian Navy commissioned INS Tamal (F 71)—eighth Project 1135.6 stealth frigate—on 1 July at Russia’s Yantar Shipyard, bolstering India’s maritime security.
  4.  India and UAE agreed to explore partnerships in green steel and high-grade aluminium to support India’s 300 MT annual steel production goal.
  5. Central Electricity Authority and IIT Roorkee signed an MoU for collaborative research, capacity building, and sustainable development in the power sector.
  6. Hindustan Power has been selected by SJVN to develop an ISTS-connected 100 MW solar plant paired with a 200 MWh battery energy storage system, enhancing grid reliability.
  7. The Solar Energy Corporation of India (SECI) has signed long-term Power Sale Agreements (PSAs) totaling over 60 GW in renewable power capacity since inception.
  8. Bangladesh has made a record US $437 million payment to Adani Power, settling all admitted payments up to March and reviving supply contracts.
  9. Iron ore production slightly grew by 0.6% to 53 million metric tonnes during April–May FY 2025–26.
  10. Saraswat Co‑operative Bank—the largest urban co‑op bank in India—has proposed to acquire New India Co‑operative Bank, with full protection of depositor interests and pending RBI & shareholder approval.
  11. Receivables Exchange of India (RXIL) facilitated invoice discounting worth ₹80,500 crore in FY 2024‑25, aiding 44,000+ MSMEs through its TReDS platform.
  12. RBI’s Financial Stability Report reveals that NPAs have declined to multi‑decade lows due largely to loan write‑offs, while NBFC stressed assets rose to 5.9 % in March 2025.
  13. The RBI’s June Financial Stability Report reveals NBFC stressed assets reached 5.9% in March 2025, driven by surging loan write‑offs, flagging credit risks despite overall sector resilience.
  14. Andhra Pradesh government has notified the Capital Region Land Pooling Scheme Rules 2025 to extend voluntary land pooling beyond the core city, aiming to acquire an additional 40,000 acres to develop a greenfield mega capital.
  15. Following discovery at Telangana coal mines, GoI has launched a nationwide initiative under the National Critical Minerals Mission to explore rare earth elements in mining overburden across coal, mineral, and petroleum sites.
  16. Pakistan has taken over the UN Security Council Presidency for July 2025, as part of its ongoing two‑year non‑permanent membership beginning January 2025.
  17. Chennai Bulls dominated the final, defeating Delhi Redz 41–0 to win the first-ever Rugby Premier League on 29 June 2025 at Mumbai Football Arena.
  18. Every year on June 23, the world observes International Widows Day, highlighting the social, economic, and legal challenges faced by millions of widows globally, and calling for action to protect their rights.
  19. The Reserve Bank of India has appointed Kesavan Ramachandran, veteran banker and former PCGM of Risk Monitoring, as Executive Director effective 1 July 2025, to head the Prudential Regulation Division.
  20. ISKCON spiritual leader Radhanath Swami received a prestigious New York City honour on behalf of Mayor Eric Adams, recognising his decades-long spiritual and community service.

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