Daily Current Affairs: 14 June 2025

Current affairs of 14 June 2025: Israel-Iran Clash Lifts Oil Prices: Risks for India; India Abstains on UNGA Gaza Ceasefire Vote, June 2025; Virtual Digital Asset (VDA) Tax Notices Explained, and 6 more topics. Key facts for every exam, with a quiz.

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In this issue: 9 topics

Government Schemes

Forest Rights Act Cells: Centre Approves 324 Across 18 States/UTs

Banking & Finance

EBLR Explained: SBI Cuts External Benchmark Lending Rate
RBI Eases Dormant Account Reactivation and Claims
Scapia Federal RuPay Credit Card: Dual-Network VISA and RuPay

Economy

Virtual Digital Asset (VDA) Tax Notices Explained
Gensol Engineering Admitted to Insolvency on IREDA Plea

International Affairs

Israel-Iran Clash Lifts Oil Prices: Risks for India
India Abstains on UNGA Gaza Ceasefire Vote, June 2025

Agriculture & Rural

Agri Stack Conference: Digital Agriculture Mission Updates

Government Schemes

Polity & Governance

1. Forest Rights Act Cells: Centre Approves 324 Across 18 States/UTs

The Centre approved 324 Forest Rights Act (FRA) cells, reported as the first such step since the 2006 Act.
The cells will be spread across 18 States and Union Territories.
They come under the Dharti Aba Janjatiya Gram Utkarsh Abhiyaan.
The units operate at district and state level to support FRA implementation.

Full notes and 3 MCQs ›

Banking & Finance

2. EBLR Explained: SBI Cuts External Benchmark Lending Rate

SBI cut its EBLR and home loan rate by 50 bps, matching the RBI repo rate cut; EBLR fell from 8.65% to 8.15%.
EBLR was adopted from 1 October 2019 after an Internal Study Group of RBI.
All floating-rate retail and MSME loans must be linked to an external benchmark.
The rate must be reset at least once every 3 months.

Full notes and 3 MCQs ›

Banking & Finance

3. RBI Eases Dormant Account Reactivation and Claims

RBI revised rules to ease reactivation of inoperative accounts and claims on unclaimed deposits.
Customers can update KYC at any branch of their bank.
Banks must offer video KYC and may use business correspondents in remote areas.
Accounts with no customer-induced transaction for over 2 years are inoperative.

Full notes and 3 MCQs ›

Banking & Finance

4. Scapia Federal RuPay Credit Card: Dual-Network VISA and RuPay

Scapia, a Bengaluru travel fintech, tied up with Federal Bank for the Scapia Federal RuPay Credit Card.
The card runs on both VISA and RuPay, so credit and UPI payments sit on one account.
It offers zero forex markup and unlimited domestic airport lounge access.

Full notes and 3 MCQs ›

Economy

5. Virtual Digital Asset (VDA) Tax Notices Explained

The Income Tax Department sent notices to thousands of taxpayers who did not disclose crypto or VDA income.
Finance Act 2022 defines a VDA as a cryptographically generated digital representation of value; CBDCs are excluded.
VDA income is taxed under Section 115BBH at a flat 30%, with 1% TDS under Section 194S.

Full notes and 3 MCQs ›

Economy

6. Gensol Engineering Admitted to Insolvency on IREDA Plea

Gensol Engineering Ltd, which runs the BluSmart EV ride-hailing platform, entered insolvency proceedings.
IREDA triggered the action over a default of ₹510 crore.
Gensol EV Lease Ltd was separately admitted to insolvency over a ₹219 crore default.

Full notes and 3 MCQs ›

International Affairs

Economy

7. Israel-Iran Clash Lifts Oil Prices: Risks for India

Oil prices jumped 8% in a day after Israel attacked Iran, stoking inflation fears in India.
India imports over 80% of its crude; 20% of world oil passes through the Strait of Hormuz.
Rerouting via the Cape of Good Hope adds 15-20 days and $500-1,000 per container.

Full notes and 3 MCQs ›

Polity & Governance

8. India Abstains on UNGA Gaza Ceasefire Vote, June 2025

India abstained on 13 June 2025 from a UNGA vote seeking an immediate Gaza ceasefire, its fourth Gaza abstention in three years.
UNGA has 193 members, one vote each.
Two-thirds majority is needed for budget and peace and security matters.

Full notes and 3 MCQs ›

Agriculture & Rural

Agriculture & Rural Development

9. Agri Stack Conference: Digital Agriculture Mission Updates

The National Conference on Agri Stack was held on 14 June 2025 in New Delhi.
Special Central Assistance guidelines carry ₹6,000 crore for Farmer Registry and Digital Crop Survey.
An AI chatbot using Google Gemini will give multilingual support to farmers.

Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 14 June 2025, with answers and explanations.

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Daily Current Affairs: 14 June 2025

In this issue: 9 topics

Government Schemes

1. Forest Rights Act Cells: Centre Approves 324 Across 18 States/UTs

Banking & Finance

2. EBLR Explained: SBI Cuts External Benchmark Lending Rate

3. RBI Eases Dormant Account Reactivation and Claims

4. Scapia Federal RuPay Credit Card: Dual-Network VISA and RuPay

Economy

5. Virtual Digital Asset (VDA) Tax Notices Explained

6. Gensol Engineering Admitted to Insolvency on IREDA Plea

International Affairs

7. Israel-Iran Clash Lifts Oil Prices: Risks for India

8. India Abstains on UNGA Gaza Ceasefire Vote, June 2025

Agriculture & Rural

9. Agri Stack Conference: Digital Agriculture Mission Updates

Test yourself