Daily Current Affairs – 12 June 2026

Banking, Finance & Business

RBI Imposes ₹32.30 Lakh Penalty on Canara Bank

Key Highlight: The Reserve Bank of India (RBI) imposed a monetary penalty of ₹32.30 lakh on Canara Bank for non-compliance with directions related to fraud classification and reporting.

• The penalty was issued under the Banking Regulation Act, 1949.
• The bank failed to comply with RBI directions on 'Fraud - Classification and Reporting by commercial banks and select FIs'.
• A statutory inspection for FY2022-23 revealed the bank failed to report certain fraud accounts within the prescribed timeline.
• The action is based on deficiencies in regulatory compliance and not intended to pronounce upon the validity of any transaction.

About Reserve Bank of India (RBI)

• Established: 1935
• Headquarters: Mumbai
• Governor: Shaktikanta Das

PhonePe Launches New 'Secured Lending' Platform

Key Highlight: Fintech major PhonePe has launched a dedicated 'Secured Lending' platform to provide users easy access to various loan products.

• The platform will offer Loan against Property, Gold Loan, and Education Loan in partnership with leading banks.
• It aims to simplify the credit journey for over 500 million registered users.
• Collaborations include HDFC Bank, Axis Bank, and Tata Capital.
• Users can apply, track, and manage their loan repayments directly within the PhonePe app.

Indel Money Partners with IndusInd Bank for Gold Loan Co-lending

Key Highlight: Indel Money, a leading NBFC, has entered into a strategic co-lending partnership with IndusInd Bank to offer gold loans at competitive rates.

• This partnership will enable Indel Money to leverage IndusInd Bank’s low-cost funds to provide credit to the underserved.
• The loans will be processed through Indel Money’s network of 250+ branches across India.
• This move aligns with the RBI’s co-lending framework to improve credit flow to the unorganized sector.
• The collaboration focuses on digital-first processing and quick disbursement for small ticket sizes.

National & State News

Mohan Charan Majhi Sworn in as 15th Chief Minister of Odisha

Key Highlight: Four-time MLA Mohan Charan Majhi took oath as the first BJP Chief Minister of Odisha on 12 June 2026.

• The oath-taking ceremony was held at Janata Maidan, Bhubaneswar, attended by PM Narendra Modi.
• Kanak Vardhan Singh Deo and Pravati Parida were sworn in as Deputy Chief Ministers.
• The BJP ended the 24-year rule of Naveen Patnaik’s BJD by winning 78 seats in the assembly.
• Majhi belongs to the Santhal tribal community, representing the Keonjhar constituency.

Pema Khandu Sworn in as Arunachal Pradesh CM for Third Term

Key Highlight: Pema Khandu was sworn in as the Chief Minister of Arunachal Pradesh for the third consecutive term on 12 June 2026.

• The BJP secured a landslide victory, winning 46 out of 60 seats in the assembly.
• Chowna Mein took oath as the Deputy Chief Minister.
• The ceremony was attended by Union Home Minister Amit Shah and BJP President JP Nadda.
• Khandu first became CM in 2016 and has since led the state under the Saffron Party.

Cabinet Approves MSP Hike for Kharif Crops for 2026-27 Season

Key Highlight: The Union Cabinet, chaired by PM Narendra Modi, approved an increase in Minimum Support Price (MSP) for all mandated Kharif crops.

• The highest absolute increase was recommended for Oilseeds and Pulses like Moong and Nigerseed.
• The MSP for Paddy (Common) has been increased by ₹117 to ₹2,300 per quintal.
• This decision aims to ensure at least 50% margin over the cost of production for farmers.
• The move is part of the government’s strategy to promote crop diversification and self-sufficiency in pulses.

Appointments & Resignations

Ajit Doval Re-appointed as National Security Advisor (NSA)

Key Highlight: The Appointments Committee of the Cabinet (ACC) has re-appointed Ajit Doval as the National Security Advisor for a third term.

• Ajit Doval will hold the rank of a Cabinet Minister in the Table of Precedence.
• His appointment is co-terminus with the term of PM Narendra Modi.
• Doval, a former IB Director and 1968-batch IPS officer, has served as NSA since 2014.
• He is credited with the 'Doval Doctrine' focusing on proactive national security measures.

PK Mishra Re-appointed as Principal Secretary to PM

Key Highlight: Senior bureaucrat Dr. PK Mishra has been re-appointed as the Principal Secretary to Prime Minister Narendra Modi.

• Like the NSA, his appointment is co-terminus with the Prime Minister's term.
• He will carry the rank of Cabinet Minister.
• Mishra is a 1972-batch Gujarat-cadre IAS officer and has been with the PMO for a decade.
• He oversees administrative affairs, appointments, and high-level policy coordination.

Vice Admiral Rajesh Dhankhar Takes Over as DG Naval Operations

Key Highlight: Vice Admiral Rajesh Dhankhar has assumed the charge of Director General Naval Operations (DGNO).

• The officer is an alumnus of the National Defence Academy (NDA) and was commissioned in 1990.
• He is a specialist in Navigation and Direction.
• He has previously commanded INS Mumbai and the Eastern Fleet.
• He was awarded the Ati Vishisht Seva Medal (AVSM) and Nau Sena Medal (NM) for his service.

Science & Technology

ISRO Successfully Completes Third Reusable Launch Vehicle (RLV) Landing Mission

Key Highlight: The Indian Space Research Organisation (ISRO) successfully conducted the RLV-LEX-03 mission at Chitradurga, Karnataka.

• This was the third and final landing experiment for the Pushpak vehicle.
• The RLV was released from an IAF Chinook helicopter at an altitude of 4.5 km.
• It successfully demonstrated autonomous landing under challenging cross-wind conditions.
• This mission solidifies ISRO's capability in developing low-cost access to space through reusable technology.

About Indian Space Research Organisation (ISRO)

• Established: 1969
• Headquarters: Bengaluru
• Chairman: S. Somanath

Rankings & Index

India Ranks 129th in Global Gender Gap Index 2026

Key Highlight: According to the World Economic Forum (WEF), India is ranked 129th out of 146 countries in the Global Gender Gap Index 2026.

• Iceland maintained its position as the most gender-equal country in the world.
• India showed slight improvement in Educational Attainment but lags in Economic Participation.
• In Southern Asia, India ranks behind Bangladesh and Nepal.
• The index measures four dimensions: Economic Opportunity, Education, Health, and Political Empowerment.

SIPRI Yearbook 2026: India’s Nuclear Warhead Count Rises

Key Highlight: The Stockholm International Peace Research Institute (SIPRI) released its 2026 yearbook, noting an increase in India’s nuclear arsenal.

• India’s nuclear warheads increased from 172 to 180 over the past year.
• China continues to expand its nuclear stockpile faster than any other nation.
• Russia and the USA together possess nearly 90% of all nuclear weapons globally.
• The report highlights a significant trend toward nuclear modernization among all nine nuclear-armed states.

Sports

Sumit Nagal Wins ATP Challenger Title in Heilbronn

Key Highlight: Indian tennis star Sumit Nagal clinched the Heilbronn Neckarcup ATP Challenger title in Germany.

• He defeated Switzerland’s Alexander Ritschard in the final.
• With this win, Nagal jumped to a career-high World No. 77 in the ATP Rankings.
• This is his second ATP Challenger title of the 2026 season.
• The victory ensures him a direct entry into the Wimbledon main draw.

Neeraj Chopra Wins Gold at Paavo Nurmi Games

Key Highlight: Olympic champion Neeraj Chopra secured the gold medal in the men's javelin throw at the Paavo Nurmi Games in Finland.

• Chopra recorded a best throw of 85.97m to take the top spot.
• He defeated Toni Keranen of Finland and Oliver Helander.
• This was his first competitive event since the Doha Diamond League.
• The Paavo Nurmi Games is a top-tier World Athletics Continental Tour Gold event.

Sania Mirza Appointed Brand Ambassador for French Open Broadcast

Key Highlight: Indian tennis legend Sania Mirza has been named the brand ambassador for Sony Sports Network’s broadcast of the French Open.

• She will be the face of the 'Slam Series' campaigns.
• Mirza, a 6-time Grand Slam winner, will provide expert analysis during the tournament.
• This move aims to increase tennis viewership in the Indian subcontinent.
• She previously served as a mentor for the RCB women’s team in the WPL.

International News

50th G7 Summit Hosted by Italy in Apulia

Key Highlight: The 50th G7 Summit took place in Apulia, Italy, from June 12 to 14, 2026.

• PM Narendra Modi attended the summit as an invited guest for the Outreach Session.
• Key themes included Artificial Intelligence, energy security in Africa, and the Mediterranean region.
• Leaders discussed financial support for Ukraine using frozen Russian assets.
• The G7 comprises Canada, France, Germany, Italy, Japan, UK, and the USA.

1st India-IORA Cruise Tourism Conference Held in New Delhi

Key Highlight: The first India-IORA (Indian Ocean Rim Association) Cruise Tourism Conference concluded in New Delhi.

• The event was organized by the Ministry of External Affairs and the Ministry of Ports, Shipping and Waterways.
• Member states discussed creating a unified cruise tourism policy for the Indian Ocean Region.
• India proposed a 'Cruise Circuit' connecting religious and heritage sites across member nations.
• IORA has 23 member states and 12 dialogue partners.

Awards & Honours

NIMHANS Receives Nelson Mandela Award 2026

Key Highlight: The National Institute of Mental Health and Neurosciences (NIMHANS) won the Nelson Mandela Award for Health Promotion.

• The award was conferred by the World Health Organization (WHO).
• It recognizes the institute’s exceptional contribution to Mental Health and wellbeing.
• NIMHANS is the first Indian institute to receive this prestigious global recognition.
• The award was presented during the 79th World Health Assembly in Geneva.

About NIMHANS

• Established: 1974
• Headquarters: Bengaluru
• Director: Dr. Pratima Murthy

Obituaries

MCA President Amol Kale Passes Away

Key Highlight: Amol Kale, the President of the Mumbai Cricket Association (MCA), passed away in New York due to a cardiac arrest.

• He was 47 years old and had traveled to watch the India vs Pakistan match.
• Kale was elected as MCA President in 2022, defeating Sandeep Patil.
• He was instrumental in doubling the match fees for Mumbai's senior cricketers.
• The cricketing fraternity across India expressed deep condolences at his sudden demise.