Current Affairs 18 June 2026

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National Affairs

India & Japan Adopt Rules for Joint Crediting Mechanism (JCM) Under Paris Agreement
India and Japan officially adopted the Rules of Implementation for the Joint Crediting Mechanism (JCM) under Article 6.2 of the Paris Agreement, aiming to boost bilateral cooperation in climate action and sustainable development.

• Background: The 2015 Paris Agreement allows countries to submit Nationally Determined Contributions (NDCs) outlining climate action and emission reduction targets.
• Provision: Under Article 6.2, nations can cooperate through the transfer of internationally recognized carbon credits to hit these climate goals.
• Framework: Following a Memorandum of Cooperation (MoC) signed in 2025, these rules operationalize bilateral emission-reduction projects.
• Mechanism: The JCM supports the generation of carbon credits, low-carbon technologies, and emission-reduction projects, contributing to the NDCs of both India and Japan.

Six States Agree to Sign MoU for Kishau Multi-Purpose Dam Project
Chaired by Union Home Minister Amit Shah, six northern states (Himachal Pradesh, Uttarakhand, Delhi, Uttar Pradesh, Haryana, and Rajasthan) signed a comprehensive MoU to implement the ₹15,000 crore Kishau Multipurpose Dam Project on the Tons River.

• Funding: The Central Government will fund 90% of the water component cost as Central Assistance, while the remaining 10% will be shared equally among the six participating states.
• Allocation Agreement: It was agreed to allocate Himachal Pradesh’s share of water to Delhi and Rajasthan in exchange for cost-sharing on Himachal's power component, advancing efforts to rejuvenate the Yamuna River.

CSIR Transfers 7 Technologies, Releases 10 BNDs & Hands Over 5 Quantum Components
The Council of Scientific and Industrial Research (CSIR) organized a major Technology Transfer and Bharatiya Nirdeshak Dravya (BND) Release Function at its New Delhi headquarters.

• 7 Technology Transfers: Facilitated the commercialization of indigenous technologies developed by CSIR-NPL and CSIR-CRRI.
• Release of 10 BNDs: The new reference materials comprise eight phytochemicals, one precious metal standard, and one propane gas standard.
• Handover of 5 Vapour Cells: Five CSIR-NPL developed vapor cells were handed over to DRDO’s Solid-State Physics Laboratory for use in quantum sensors, atomic clocks, and strategic defense technologies.

MoRTH Signs First MoU for Vehicle Replacement Scheme in Delhi-NCR
The Ministry of Road Transport and Highways (MoRTH) signed its first vehicle replacement scheme MoU with Ashok Leyland and its EV subsidiary Switch Mobility to curb vehicular pollution in the National Capital Region (NCR).

• Discount: Offers an 8% ex-showroom discount on eligible replacement trucks and buses (EV discounts are capped at the equivalent ICE vehicle category).
• Eligibility Framework: Targets Bharat Stage-IV (BS-IV) and older vehicles in Delhi-NCR for replacement with BS-VI or electric alternatives.
• Central Incentives: The Central Government will provide a 5% interest subvention on financing and fixed monthly fuel vouchers for five years.
• State Benefits: Participating states will offer up to a 100% motor vehicle tax concession for ten years and completely waive registration fees.

ISRO–DAE Develop Artificial Heating System for 200-Day Lunar Lander Life
ISRO Chairman V. Narayanan announced a collaboration with the Department of Atomic Energy (DAE) to develop an advanced artificial heating system designed to drastically extend the operational life of future lunar landers.

• Survival Extension: Aims to extend a lunar lander's life from the current one lunar day (14 Earth days) to up to 200 Earth days.
• The System: Will provide continuous thermal support to protect critical onboard instruments from harsh lunar nights where temperatures plunge below –129°C.
• Vikram Lander Context: The Chandrayaan-3 lander operated successfully for one lunar day using solar power before succumbing to the lunar night.

MoD Grants In-Principle Approval for ₹500 Crore Drone Tech Hub at IIT-Kanpur
The Ministry of Defence granted in-principle approval to establish a ₹500 crore National Military Drone Technology Hub at IIT-Kanpur, aimed at strengthening India’s advanced unmanned systems capabilities.

• Key Functions: The facility will provide full-stack capabilities to design, test, and certify military payloads, ground stations, data links, and counter-drone systems.
• Nodal Body: The Army Design Bureau (ADB) will act as the single point of contact to coordinate between IIT-Kanpur, the UP government, and the MoD.
• Proposal Led By: Spearheaded by the UP Expressways Industrial Development Authority (UPEIDA) to boost the UP Defence Industrial Corridor (UP DIC).
• Significance: Crucial for indigenization under Make-1 and Make-2 categories, heavily reducing India’s reliance on imported critical drone sub-systems.

International Affairs

Uzbekistan Becomes 10th Member & First Central Asian Country to Join NDB
The Republic of Uzbekistan ratified the Articles of Agreement to officially become the 10th member and shareholder of the BRICS-led New Development Bank (NDB).

• Accession Law: Uzbekistan’s President Shavkat Mirziyoyev signed the official accession law on May 21, 2026.
• Projects: The NDB will begin preparing projects focusing on energy, water management, transport, and municipal infrastructure.
• Mechanisms: The NDB supports member nations through local currency financing, national procurement procedures, and efficient project preparation.

Banking & Finance

RBI Issues Master Directions on Authorisation to Operate a Payment System
The Reserve Bank of India issued Master Directions to establish a comprehensive, unified framework for entities seeking to operate payment systems under the Payment and Settlement Systems (PSS) Act, 2007.

• Payment System Operator (PSO): An entity authorized by the RBI to operate systems that enable clearing, payment, or settlement of funds between participants.
• Objective: Consolidates rules regarding eligibility criteria, authorization, perpetual validity of licenses, voluntary surrender, and cooling-off requirements.
• Authorisation Mandate: Under Section 4 of the PSS Act, no entity can commence or operate a payment system without prior RBI approval.

RBI Launches ‘RBI Reelathon 2026’ to Combat Cyber Financial Frauds in Kerala
The RBI inaugurated the RBI Reelathon 2026, a statewide cyber fraud awareness campaign engaging students across 150 colleges in Kerala to promote financial literacy and cyber hygiene.

• Phases: A three-phase program featuring financial literacy sessions, a reel-making competition on cyber-fraud themes, and a grand finale.
• Rewards: Top winners receive cash prizes of ₹75,000, ₹50,000, and ₹25,000. Winning content will be published across official RBI, Kerala Police, and bank social media channels.
• Cyber Frauds Addressed: Focuses on combating digital arrest scams, phishing attacks, mule account networks, and illegal loan apps.

Bank of Baroda Launches ‘bob Golden Goal Deposit Scheme’
Bank of Baroda introduced the bob Golden Goal Deposit Scheme, a 555-day retail term deposit (for amounts below ₹3 crore) offering highly attractive interest rates of up to 7.40% per annum.

• Features: A fixed maturity of 555 days. Non-callable deposits offer an additional 5 basis points over callable ones in exchange for restricting premature withdrawals.
• Returns: Callable deposits yield up to 7.35% for resident super senior citizens, while non-callable deposits offer up to 7.40%.
• Exit: No premature closure penalty applies on deposits up to ₹5 lakh held for at least 12 months.

YES BANK & Northern Arc Capital Partner to Expand Digital Lending
YES Bank partnered with Northern Arc Capital (an NBFC) to massively expand formal credit access, digital lending, and alternative investment opportunities across India.

• Objective: To leverage tech-driven lending to deliver formal credit to underserved retail segments and MSMEs, supporting the Viksit Bharat 2047 vision.
• Integration: Northern Arc’s lending technology platforms (nPOS, NIMBUS, NuScore) will be integrated directly into YES Bank’s digital lending architecture.
• Investment & Wealth Solutions: Integrates Northern Arc’s asset management and bond platforms into YES Bank, providing structured credit products to customers.

Awards & Recognitions

TIME’s 100 Most Influential People in Sports 2026: Smriti Mandhana Named Only Indian
Global media brand TIME released its inaugural “TIME 100 Most Influential People in Sports 2026” list. Two-time ICC Women’s Cricketer of the Year, Smriti Mandhana, emerged as the only Indian featured.

• Key Categories: The list is divided into four segments: Leaders, Icons, Innovators, and Titans. Mandhana was featured in the "Titans" category.
• Women Representation: Heavily highlights female impact across athletics and ownership, featuring stars like Alex Morgan, Michele Kang, and Clara Wu Tsai.
• Global Sports Personalities: Included international superstars like LeBron James, Cristiano Ronaldo, Erling Haaland, and FIFA President Gianni Infantino.

Tripura’s Tribal Musical Instrument ‘Sarinda’ Secures GI Tag
The Geographical Indication Registry granted a GI tag to Tripura’s traditional tribal musical instrument ‘Sarinda’ (or Sarinda Uakhrap), bringing the state's total GI-tagged products to four.

• Material: A traditional bowed string instrument crafted from bamboo and used extensively by indigenous tribes.
• Acoustic Feature: The 65-70 cm-long instrument features an oval-shaped hollow wooden vibrating chamber covered with thin skin. Its strings are made of metal, Muga thread, or animal gut.
• Other GI-Tagged Products (Tripura): Tripura Queen Pineapple, Risha/Pachra (Rignai), and Matabari Peda.

Acquisitions & Mergers

CCI Approves Major Deals Involving TVS, Temasek, and Kedaara Capital
The Competition Commission of India (CCI) cleared three major financial and structural acquisitions across asset management, medical manufacturing, and finance.

• TVS-PGIM: Approved TVS Emerald and TVS Venu Management’s 100% acquisition of PGIM India Asset Management Pvt Ltd and PGIM India Trustees Pvt Ltd.
• Temasek-Romsons: Approved Singapore-based Temasek Holdings' subscription of preference shares and equity in Romsons Group (medical devices manufacturer) to fuel global expansion.
• Kedaara Capital: Approved Kedaara Pearl Holding’s ₹750 crore investment in Axis Finance Limited (a 5.08% stake), marking Axis Finance's largest primary capital raise.

Science & Technology

Indian Navy Decommissions ‘Sea King Mk42B Fleet’ After 36 Years of Service
The Indian Navy officially decommissioned its Sea King Mk42B helicopters—affectionately known as the ‘Flying Frigates’—after 36 years of service, culminating in a ceremonial flight from INS Shikra in Mumbai.

• Background: Procured between 1989 and 1990 to drastically bolster the Navy's anti-submarine warfare (ASW) capabilities.
• Capabilities: Equipped with advanced torpedoes, depth charges, and missiles, they were the backbone of ASW, anti-ship missions, and Search-and-Rescue operations.
• Future Role: The retired airframes will be repurposed as utility transport helicopters or utilized as test platforms for sensor trials and the Naval Anti-Ship Missile (NASM) program.

Drogo Aerospace Delivers First Batch of 41 JK 250e Drones to Indian Army
Drogo Aerospace Pvt Ltd delivered the first batch of 41 'JK 250e' electric drones to the Indian Army’s Southern Command in Nashik under a ₹72-crore contract for 217 total units.

• Overview: A fully indigenous unmanned aerial system designed for critical Intelligence, Surveillance, and Reconnaissance (ISR) missions.
• Capability: Offers up to three hours of flight endurance on a single charge for tactical overwatch and border security.
• Indigenous Development: Fully designed and manufactured in India, aligning with the Make in India and Aatmanirbhar Bharat initiatives.
• About Drogo Aerospace: A Hyderabad-based tech firm specializing in AI-enabled aerial intelligence and advanced aerospace platforms.

Obituary

Former Vice Chief of Army Staff Lt Gen Vijay Oberoi Passes Away at 84
Lieutenant General Vijay Oberoi, the highly decorated former Vice Chief of Army Staff (VCOAS) who led post-Kargil military reforms, passed away at the age of 84.

• Career: Commissioned into the Maratha Light Infantry in 1961, he remarkably rose to the highest ranks despite losing his right leg in action during the 1965 war.
• Leadership: Served as DGMO, GOC-in-C of ARTRAC and Western Command, and ultimately as VCOAS before retiring in 2001.
• Legacy & Recognition: After retiring, he founded the Centre for Land Warfare Studies (CLAWS) and the War Wounded Foundation. He famously completed the Mumbai Marathon at age 72 with a prosthetic leg.

Important Days at a Glance

Current Affairs 18 June 2026 Oneliner Question Answer

1. Which two countries adopted the Joint Crediting Mechanism (JCM) Rules under the Paris Agreement in June 2026?
Answer: India and Japan.

2. Which six states signed the MoU for the Kishau Multipurpose Dam Project?
Answer: Himachal Pradesh, Uttarakhand, Delhi, Uttar Pradesh, Haryana, and Rajasthan.

3. Which organization transferred seven technologies and released ten Bharatiya Nirdeshak Dravya (BND) reference materials?
Answer: Council of Scientific and Industrial Research (CSIR).

4. Which two companies signed the first MoU under the Delhi-NCR Vehicle Replacement Scheme with MoRTH?
Answer: Ashok Leyland and Switch Mobility.

5. Which two organizations are developing an artificial heating system to extend the life of future lunar landers?
Answer: ISRO and the Department of Atomic Energy (DAE).

6. Which institute received in-principle approval for a ₹500 crore National Military Drone Technology Hub?
Answer: IIT Kanpur.

7. Which country became the 10th member of the New Development Bank (NDB)?
Answer: Uzbekistan.

8. Which authority issued the Master Directions on Authorisation to Operate a Payment System?
Answer: Reserve Bank of India (RBI).

9. What is the name of the cyber fraud awareness campaign launched by RBI in Kerala?
Answer: RBI Reelathon 2026.

10. What is the maturity period of the Bank of Baroda 'bob Golden Goal Deposit Scheme'?
Answer: 555 days.

11. Which two financial institutions partnered to expand digital lending and credit access in India?
Answer: YES Bank and Northern Arc Capital.

12. Which Indian cricketer was the only Indian featured in TIME's 100 Most Influential People in Sports 2026 list?
Answer: Smriti Mandhana.

13. Which tribal musical instrument from Tripura received a Geographical Indication (GI) tag?
Answer: Sarinda (Sarinda Uakhrap).

14. Which organization approved the TVS Group's acquisition of PGIM India Asset Management?
Answer: Competition Commission of India (CCI).

15. Which helicopter fleet was decommissioned by the Indian Navy after 36 years of service?
Answer: Sea King Mk42B Fleet.

16. Which company delivered the first batch of JK 250e drones to the Indian Army?
Answer: Drogo Aerospace Private Limited.

17. Which former Vice Chief of Army Staff passed away in June 2026?
Answer: Lieutenant General Vijay Oberoi.

18. International Day of Family Remittances is observed annually on which date?
Answer: 16 June.

19. What is the theme of the International Day of Family Remittances 2026?
Answer: “Remittances for Rural Resilience, Entrepreneurship and Employment.”

20. World Day to Combat Desertification and Drought is observed every year on which date?
Answer: 17 June.

21. What is the theme of World Day to Combat Desertification and Drought 2026?
Answer: “Rangelands: Recognize. Respect. Restore.”