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Daily Current Affairs (DCA) 2&3 June, 2026

17 items · 24 min read · NABARD · RBI · SEBI

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In the news1

Context of the News

India’s Maternal Mortality Ratio (MMR), defined as the number of maternal deaths per 1,00,000 live births, has improved by just one point from 88 in 2021-23 to 87 in 2022-24, according to the latest Sample Registration System (SRS) bulletin released by the Office of the Registrar General and Census Commissioner, Ministry of Home Affairs. The headline is a near-stall in national progress, after two decades of sharp improvement, with India having cut MMR from 212 in 2007-09 to 88 in 2020-22, putting the country on track for the Sustainable Development Goal (SDG 3.1) target of reducing the global MMR to less than 70 by 2030.

Key Highlights

  • Indicator: Maternal Mortality Ratio (MMR), deaths of women due to pregnancy-related causes per 1,00,000 live births.
  • Source: Sample Registration System (SRS) bulletin.
  • Latest value (2022-24): 87.
  • Previous value (2021-23): 88.

Two-decade trend:

PeriodMMR (per 1,00,000 live births)
2007-09212
2020-2288
2021-2388
2022-2487

SDG target:

IndicatorTarget
SDG 3.1Reduce global MMR to less than 70 per 1,00,000 live births by 2030

State-level performance:

CategoryStates
Strong improversOdisha, Assam, Chhattisgarh, Punjab, Telangana (cut MMR by 11-29 points)
Moderate improversTamil Nadu and West Bengal (cut by 10 points each)
High-birth states improvingBihar, Madhya Pradesh
Worsening statesJharkhand (biggest), Uttar Pradesh, Gujarat
State with India’s highest MMRUttar Pradesh at 154 (nearly twice the national average)

Regional and global comparison:

India vs CountryStatus
China, Sri Lanka, BhutanWell ahead of India
Bangladesh, Nepal, Pakistan, MyanmarBehind India
Malaysia, Thailand, VietnamAhead of India
Sub-Saharan AfricaVery high MMR, pulls global average up

About the News (Q&A)

What is the main finding?

India’s MMR has moved only by one point, from 88 to 87, between 2021-23 and 2022-24, suggesting that national progress has slowed sharply after two decades of rapid decline.

How does this compare to earlier years?

India had cut MMR from 212 in 2007-09 to 88 in 2020-22, a major achievement. Compared to this rapid pace, the latest one-point change is a near-stall.

Which states have improved?

(a) Odisha, Assam, Chhattisgarh, Punjab, Telangana (cut MMR by 11-29 points). (b) Tamil Nadu, West Bengal (cut by 10 points each). (c) Bihar, Madhya Pradesh (both high-birth states).

Which states have worsened?

(a) Jharkhand (biggest increase). (b) Uttar Pradesh. (c) Gujarat.

Uttar Pradesh now has India’s highest MMR at 154, nearly twice the national average.

How does India compare globally?

India is behind: China, Sri Lanka, Bhutan, Malaysia, Thailand, Vietnam. India is ahead of: Bangladesh, Nepal, Pakistan, Myanmar. The global average is higher than India because of very high MMR in parts of sub-Saharan Africa.

Background Concepts (Q&A)

What is the “Maternal Mortality Ratio (MMR)”, and How is It Different from Other Maternal Indicators?

The Maternal Mortality Ratio (MMR) is defined by the World Health Organization (WHO) as the number of maternal deaths per 1,00,000 live births in a given period. A maternal death is the death of a woman while pregnant or within 42 days of the end of pregnancy, from any cause related to or aggravated by the pregnancy or its management (but not from accidents or incidental causes). MMR measures the risk of dying from pregnancy or childbirth per pregnancy, and is the most widely used indicator of maternal health. India tracks MMR through the Sample Registration System (SRS), run by the Office of the Registrar General and Census Commissioner.

Two related but different indicators are:

(a) The Maternal Mortality Rate, which measures the number of maternal deaths per 1,00,000 women of reproductive age (15-49 years) in a given period. It reflects both the risk of pregnancy and the frequency of pregnancy in the population.

(b) The Lifetime Risk of Maternal Death, which measures the probability that a 15-year-old female will eventually die from a maternal cause. It combines the per-pregnancy risk (MMR) with the fertility rate (TFR).

MMR is preferred globally because it isolates the risk per pregnancy, making it comparable across countries with different fertility rates. India’s MMR of 87 (2022-24) means about 87 women die for every 1,00,000 live births, a sharp improvement over 2007-09 (212) but still higher than the SDG target of 70.

What are the Main Causes of Maternal Mortality in India, and What is the Policy Response?

In India, the main causes of maternal mortality include: (a) Postpartum haemorrhage (severe bleeding after delivery), the single largest cause globally and in India; (b) Hypertensive disorders, including pre-eclampsia and eclampsia; (c) Sepsis and infections after delivery; (d) Obstructed labour and complications during birth; (e) Unsafe abortion; and (f) Indirect causes like anaemia, malnutrition, malaria, and tuberculosis, which weaken pregnant women and increase the risk of dying during pregnancy or childbirth.

India’s policy response is built around strengthening the entire continuum of maternal care, through programmes like:

(a) Janani Suraksha Yojana (JSY), a conditional cash transfer to encourage institutional deliveries, especially in EAG states. (b) Janani Shishu Suraksha Karyakram (JSSK), which provides free delivery, free Caesarean section, free drugs, diagnostics, blood, and transport for pregnant women in public facilities. (c) Pradhan Mantri Surakshit Matritva Abhiyan (PMSMA and e-PMSMA), which provides free, comprehensive antenatal care on the 9th of every month, with special attention to high-risk pregnancies. (d) Surakshit Matritva Aashwasan (SUMAN), which guarantees zero-tolerance for denial of services to pregnant women in public health facilities. (e) LaQshya, which focuses on improving the quality of care in labour rooms and maternity operation theatres. (f) Anaemia Mukt Bharat and POSHAN Abhiyaan/POSHAN 2.0, which address anaemia and nutrition in adolescent girls, pregnant women, and lactating mothers. (g) Pradhan Mantri Matru Vandana Yojana (PMMVY 2.0), a maternity benefit scheme.

Together, these programmes have helped drive India’s MMR from 212 to 87 in about 15 years, but the last mile, especially in Uttar Pradesh, Jharkhand, and Gujarat, will require stronger system-level reforms.

Practice MCQs

Q1. With reference to India’s latest Maternal Mortality Ratio (MMR) figures, consider the following statements:

  1. India’s MMR has marginally improved from 88 in 2021-23 to 87 in 2022-24 as per the latest SRS bulletin.
  2. India had cut MMR from 212 in 2007-09 to 88 in 2020-22.
  3. The Sustainable Development Goal (SDG) target is to reduce the global MMR to less than 70 per 1,00,000 live births by 2030.
  4. Uttar Pradesh now has the highest MMR among Indian states at 154, nearly twice the national average.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. Consider the following statements about state-level MMR trends in India:

  1. Odisha, Assam, Chhattisgarh, Punjab, and Telangana have cut their MMR by 11 to 29 points.
  2. Tamil Nadu and West Bengal have reduced their MMR by 10 points each.
  3. Jharkhand, Uttar Pradesh, and Gujarat have seen their MMR worsen in the latest cycle.
  4. Bihar and Madhya Pradesh, despite being high-birth states, have also reduced their MMR.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

Q3. With reference to MMR-related concepts, consider the following statements:

  1. Maternal Mortality Ratio (MMR) is defined as the number of maternal deaths per 1,00,000 live births in a given period.
  2. A maternal death is the death of a woman while pregnant or within 42 days of the end of pregnancy from any cause related to or aggravated by the pregnancy.
  3. The Maternal Mortality Rate is calculated per 1,00,000 women of reproductive age (15-49 years), not per 1,00,000 live births.
  4. The Lifetime Risk of Maternal Death combines per-pregnancy risk with fertility rates.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

Q4. Consider the following statements about India’s maternal health programmes:

  1. Janani Suraksha Yojana (JSY) is a conditional cash transfer scheme to encourage institutional deliveries.
  2. Janani Shishu Suraksha Karyakram (JSSK) provides free delivery, free C-section, free drugs, diagnostics, blood, and transport in public facilities.
  3. Surakshit Matritva Aashwasan (SUMAN) guarantees zero tolerance for denial of services to pregnant women in public health facilities.
  4. LaQshya is a Reserve Bank of India programme to improve banking services for pregnant women.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; LaQshya is a Ministry of Health and Family Welfare initiative to improve quality of care in labour rooms and maternity OTs, NOT an RBI banking programme.)

Answer Key

  1. (d), All four statements are correct.
  2. (e), All four statements are correct.
  3. (e), All four statements are correct.
  4. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because LaQshya is a Ministry of Health programme, not an RBI banking scheme.

Banking/Finance3

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More on this exam

TH

Context:

The Government of India has decided to phase out the Wholesale Price Index (WPI) over the next five years and gradually replace it with a more comprehensive Producer Price Index (PPI). From 15 June 2026, the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry will release: (a) a revised WPI series with the new base year 2022-23 (replacing the current 2011-12 base year); and (b) a new PPI series with three sub-indices: Output PPI, Trial Input PPI, and Services PPI. The Services PPI will, in its first phase, cover seven service sectors: banking, securities transactions, insurance, management of pension funds, railways, air passenger transport, and telecom.

Wholesale Price Index (WPI)

The WPI measures the average change in prices of goods bought and sold in bulk at the wholesale level, before they reach the retail consumer. It is the oldest price index in India.

IndicatorDetail
Released byOffice of the Economic Adviser, DPIIT, Ministry of Commerce and Industry
Current base year2011-12 (to be revised to 2022-23)
FrequencyMonthly, released around the 14th of every month
CoverageGoods only, no services
Total items697 items in the existing series

Three major groups of WPI:

GroupWeight (existing 2011-12 series)
Primary Articles22.62 per cent (food articles, non-food articles, minerals, crude petroleum)
Fuel and Power13.15 per cent
Manufactured Products64.23 per cent (the largest group)

Limitations of WPI:

(a) No services coverage, even though services contribute over 50 per cent of GDP. (b) Reflects bulk wholesale prices, not producer-level prices. (c) Does not directly capture consumer-experienced inflation. (d) Cannot fully analyse input-output price pass-through.

Producer Price Index (PPI)

The PPI measures the average change in prices received by domestic producers for their goods and services, at the producer’s gate, before any trade margins, transport costs, or taxes are added.

India’s new PPI (effective 15 June 2026) will have three sub-indices:

Sub-IndexMeasures
Output PPIPrices of goods produced and sold by producers
Trial Input PPIPrices of inputs used by producers
Services PPIPrices of services, starting with 7 sectors in Phase 1

The 7 services in the first phase of Services PPI:

(a) Banking. (b) Securities Transaction. (c) Insurance. (d) Management of Pension Funds. (e) Railways. (f) Air (Passenger) Transport. (g) Telecom.

Why the World Uses PPI:

(a) Captures producer-level price pressures, more accurate than wholesale. (b) Includes services, reflecting modern economies. (c) Allows clear input-output pass-through analysis. (d) Aligned with IMF Price Statistics Manuals. (e) Used by US, UK, EU, Japan, China, and most major economies.

WPI vs PPI, Head-to-Head Comparison

ParameterWholesale Price Index (WPI)Producer Price Index (PPI)
Stage of measurementWholesale (bulk trading) levelProducer’s gate, before distribution margins
CoverageGoods onlyGoods + Services
Released byDPIIT, Ministry of Commerce and IndustryDPIIT, Ministry of Commerce and Industry
FrequencyMonthlyMonthly for Output PPI, plus periodic Services and Input PPI
Number of items697 (current series)Wider, with services added
Use in monetary policyNot the RBI’s inflation targetNot the RBI’s inflation target
Use in contractsWidely used in price escalation clausesExpected to gradually replace WPI
Reflects services?NoYes
Input-output analysisLimitedClear and structured
Aligned with global practiceOutdated; only a few countries use WPIStandard global indicator

Where Each Fits in India’s Price-Index Ecosystem

IndexReleased byWhat It MeasuresUsed For
WPIDPIIT, Ministry of Commerce and IndustryWholesale-level goods pricesPrice escalation clauses, industrial inflation analysis
PPI (new)DPIIT, Ministry of Commerce and IndustryProducer-level goods and services pricesTo replace WPI over five years
CPI (Combined, Rural, Urban)National Statistical Office (NSO), MoSPIRetail prices of household consumption basketRBI MPC’s inflation target (4 per cent +/- 2 per cent)
CPI-IW (Industrial Workers)Labour Bureau, Ministry of Labour and EmploymentRetail prices for industrial workersDA computation for government employees
CPI-AL/RLLabour BureauRetail prices for agricultural and rural labourersWage and welfare indexation

Key Differences Between PPI and Consumer Price Index (CPI)

ParameterPPICPI
StageProducer’s gateHousehold / retail point of purchase
MeasuresPrices received by producersPrices paid by consumers
CoverageGoods + services (producer side)Goods + services in household basket
UseIndustrial inflation, contract pricing, GDP deflatorsInflation targeting, cost of living, DA, welfare indexation
Includes taxes?Generally excludes indirect taxes on outputIncludes indirect taxes in final consumer price

Practice MCQs

Q1. With reference to the Wholesale Price Index (WPI) and the Producer Price Index (PPI) in India, consider the following statements:

  1. WPI measures the average change in prices of goods bought and sold in bulk at the wholesale level.
  2. PPI measures the average change in prices received by domestic producers at the point of production.
  3. WPI in India does not cover services, while the new PPI includes a Services PPI starting with 7 sectors in Phase 1.
  4. Both WPI and PPI in India are released by the National Statistical Office (NSO).

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; WPI and PPI are released by the DPIIT under the Ministry of Commerce and Industry, NOT the NSO. The NSO releases CPI (Combined, Rural, Urban).)

Q2. Consider the following statements about the new PPI series being launched in India:

  1. The new PPI series will be launched from 15 June 2026.
  2. It will have three sub-indices: Output PPI, Trial Input PPI, and Services PPI.
  3. The Services PPI in Phase 1 will cover banking, securities transactions, insurance, pension fund management, railways, air passenger transport, and telecom.
  4. The transition from WPI to PPI aligns with IMF recommendations and global best practices.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q3. With reference to the architecture of price indices in India, consider the following statements:

  1. The Consumer Price Index (Combined, Rural and Urban) is released by the National Statistical Office under the Ministry of Statistics and Programme Implementation.
  2. The Consumer Price Index for Industrial Workers (CPI-IW) is released by the Labour Bureau under the Ministry of Labour and Employment.
  3. The RBI’s Monetary Policy Committee targets the Consumer Price Index (Combined) inflation at 4 per cent, with a tolerance band of +/- 2 percentage points.
  4. The Wholesale Price Index (WPI) is the official inflation target for the RBI under India’s monetary policy framework.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; the RBI’s official inflation target is the CPI (Combined), NOT the WPI.)

Q4. Consider the following statements about WPI and PPI features:

  1. WPI covers only goods and does not include services.
  2. PPI explicitly includes both goods (Output and Input) and services.
  3. PPI is generally compiled at the producer’s gate, before trade margins and indirect taxes are added.
  4. CPI captures prices at the retail consumer level, including taxes and trade margins.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

  1. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because WPI and PPI are released by DPIIT, not the NSO.
  2. (d), All four statements are correct.
  3. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because the RBI’s inflation target is CPI (Combined), not WPI.
  4. (d), All four statements are correct.

Exam Relevance

ExamRelevance
UPSC PrelimsGS Paper III on Indian Economy (Inflation indices, WPI, PPI, CPI)
UPSC MainsGS Paper III on Indian Economy, Inflation, Monetary policy, Statistical reforms
Banking (RBI Gr B, SBI PO, IBPS, NABARD)Very high importance, inflation, monetary policy, statistics
SEBI Grade A, IRDAI Grade AMacroeconomic awareness
Indian Statistical Service (ISS)Core area on price indices
SSC, Insurance, RailwayStatic and Current GK on WPI, CPI, PPI, base years

Context:

According to an analysis by Bloomberg Economics, based on publicly available data, the Reserve Bank of India (RBI) may have sold gold reserves worth roughly USD 12 billion in the two weeks through 22 May, while simultaneously buying about USD 7.5 billion of foreign-currency assets. The move is being read as a deliberate rebalancing of India’s forex reserves, where the central bank is prioritising liquid foreign currency (mainly the US dollar) over gold holdings, at a time when India is facing multiple external pressures, including the Iran-related Middle East war, the effective closure of the Strait of Hormuz, sustained capital outflows, higher oil prices, and a widening current account deficit (CAD) that is pressuring the rupee.

Why this is significant?

(a) Gold prices were stable to firm, so the fall in reported gold value points to actual sales, not just valuation effects.
(b) Import duty on gold had been hiked, which would have increased the rupee value of gold reserves. (c) The direction of change in the data is opposite to what these factors would normally suggest, supporting the interpretation of active selling.

Why the RBI may be doing this?

(a) Pressure on the rupee from capital outflows and higher oil prices.
(b) Widening current account deficit due to costlier energy imports and softer remittance and FDI/FPI inflows.
(c) Need for liquid foreign currency, mainly US dollars, to intervene in the FX market without moving the spot rate too sharply.
(d) Gold, while a strategic reserve, is less immediately liquid than dollar assets in stress periods.

Why hold gold partly overseas?

(a) Operational flexibility during international transactions.
(b) Easier use as collateral for swaps and liquidity operations.
(c) Diversification of custody risk between domestic and global custodians.

Background Concepts (Q&A)

What are India’s “Foreign Exchange Reserves”, and What are They Composed Of?

Foreign Exchange Reserves (often shortened to forex reserves) are external assets held by the central bank of a country to support its currency, balance of payments, monetary policy, and financial stability. India’s forex reserves are managed by the Reserve Bank of India under the RBI Act, 1934 and the Foreign Exchange Management Act (FEMA), 1999, in consultation with the Government of India. They are composed of four main parts:

(a) Foreign Currency Assets (FCA), by far the largest component, mostly in US dollars, euros, British pounds, Japanese yen, and Chinese yuan, held in the form of deposits with foreign central banks, deposits with the Bank for International Settlements (BIS), and investments in highly rated foreign government securities (like US Treasuries, German bunds, etc.).

(b) Gold, held both in India (in RBI vaults) and overseas (with the Bank of England and the BIS).

(c) Special Drawing Rights (SDRs), an international reserve asset created by the IMF, with its value linked to a basket of currencies.

(d) Reserve Tranche Position (RTP) with the IMF, the quota-related amount that India can access from the IMF without conditionality.

Forex reserves are used to: (i) defend the rupee in times of stress; (ii) finance the trade deficit; (iii) service external debt; (iv) build international confidence in the economy; and (v) provide a cushion against sudden capital outflows.

Practice MCQs

Q1. With reference to recent reports about the RBI’s foreign reserves strategy, consider the following statements:

  1. According to Bloomberg Economics, the RBI may have sold around USD 12 billion in gold reserves over a two-week period through 22 May.
  2. The RBI is also reported to have bought about USD 7.5 billion in foreign-currency assets in the same period.
  3. The reported sale of gold has been linked to pressure on the rupee from the Middle East war, higher oil prices, and capital outflows.
  4. By end-March, India held about 880.52 metric tonnes of gold, with 77 per cent held domestically.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. Consider the following statements about the composition of India’s foreign exchange reserves:

  1. Foreign Currency Assets (FCA) are the largest component of India’s forex reserves.
  2. India’s reserves also include gold holdings, Special Drawing Rights (SDRs), and a Reserve Tranche Position (RTP) with the IMF.
  3. India’s overseas gold reserves are mainly held with the Bank of England and the Bank for International Settlements (BIS).
  4. Special Drawing Rights are an international reserve asset created by the World Bank, not the IMF.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 4 is wrong; SDRs are created by the IMF, NOT the World Bank.)

Q3. With reference to the Strait of Hormuz and its importance for India, consider the following statements:

  1. The Strait of Hormuz connects the Persian Gulf with the Gulf of Oman and onward with the Arabian Sea and the Indian Ocean.
  2. Iran lies on the northern side of the strait, while Oman and the UAE lie to the south.
  3. About a fifth of global oil trade by volume passes through the Strait of Hormuz.
  4. India imports a large share of its crude oil from Gulf countries through the Strait of Hormuz.

Which of the above are correct? (a) 1, 2 and 3 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four

Q4. Consider the following statements about the RBI’s policy options for defending the rupee:

  1. Selling US dollars in the foreign exchange market is one of the most direct tools used by the RBI to support the rupee.
  2. The RBI can conduct buy-sell dollar-rupee swap auctions to inject rupee liquidity while temporarily acquiring dollars.
  3. The RBI has no role in any kind of intervention in the gold market.
  4. Easing overseas borrowing limits for banks and expanding FPI access to debt markets can help attract capital inflows that support the rupee.

Which of the above are correct? (a) 1, 2 and 4 only (b) 1, 3 and 4 only (c) 2 and 4 only (d) 1 and 4 only (e) All four (Statement 3 is wrong; the RBI is actively involved in the management of India’s gold reserves, as part of its forex reserve management framework.)

Answer Key

  1. (d), All four statements are correct.
  2. (a), Statements 1, 2, 3 are correct; Statement 4 is wrong because SDRs are created by the IMF, not the World Bank.
  3. (e), All four statements are correct.
  4. (a), Statements 1, 2, 4 are correct; Statement 3 is wrong because the RBI manages India’s gold reserves as part of its forex reserve framework, and can buy or sell gold.

Context of the News

The Department of Financial Services (DFS), under the Ministry of Finance, has launched a Common Landing Portal for Unclaimed Financial Assets to help citizens easily search for and reclaim money they may have forgotten or lost track of across various parts of the financial system. The portal was launched by M. Nagaraju, Secretary, DFS, during a high-level review meeting of Public Sector Banks (PSBs) in New Delhi, and was developed in collaboration with the PSB Alliance, a joint initiative of public sector banks. The portal is a single, unified search platform where users can look for unclaimed assets across multiple categories, including bank deposits, insurance claims, shares and dividends, and mutual fund investments, instead of going to each regulator or bank separately.

Key Highlights

  • Portal: Common Landing Portal for Unclaimed Financial Assets.
  • Launched by: DFS, Ministry of Finance.
  • Officially launched by: M. Nagaraju, Secretary, DFS.
  • Developed in collaboration with: PSB Alliance (a joint initiative of public sector banks).

What the portal does:

FeatureDetail
Single entry pointOne landing portal instead of multiple regulator-wise portals
Searchable categoriesBank deposits, insurance claims, shares and dividends, mutual fund investments
AimEasier access, transparency, citizen convenience
AlignmentViksit Bharat 2047, financial inclusion, public awareness

Linked initiatives:

InitiativeDetail
“आपकी पूँजी, आपका अधिकार” (“Your Money, Your Right”)Nationwide DFS-led campaign for awareness and reclaim of unclaimed assets
PSB AllianceJoint platform of public sector banks for shared services (also runs Doorstep Banking, EASE reforms, etc.)

Existing channels for specific asset categories (still in operation):

CategoryChannel
Unclaimed bank depositsUDGAM portal of the Reserve Bank of India (RBI)
Unpaid dividends, matured deposits, debentures, sharesInvestor Education and Protection Fund (IEPF) Authority under Ministry of Corporate Affairs
Unclaimed insurance amountsIRDAI rules and the insurer’s own portals
Dormant EPF accountsEPFO website / UMANG app
Mutual fund foliosEach AMC and MFCentral by AMFI

Background Concepts (Q&A)

What is the “RBI’s Depositor Education and Awareness (DEA) Fund”, and What Happens to Unclaimed Bank Deposits?

The Depositor Education and Awareness (DEA) Fund is a fund maintained by the Reserve Bank of India (RBI) under Section 26A of the Banking Regulation Act, 1949, where banks are required to transfer the credit balance of any deposit account that has remained inoperative for 10 years or more. Once a deposit is transferred to the DEA Fund, the bank continues to owe the depositor the amount, but the money is parked with the RBI, which uses the interest earned for promoting depositor education and awareness, research on banking and financial sector issues, and other depositor-protection activities.

If the rightful depositor or legal heir comes forward at any time, the bank is obligated to pay the amount (with applicable interest), and the bank then claims a refund from the DEA Fund. The RBI also runs the UDGAM portal (launched August 2023), a centralised web portal where citizens can search across multiple banks for unclaimed deposits using their name and a few identifying details, instead of going to each bank separately. The Common Landing Portal launched by DFS now sits on top of these systems, providing a single front door for unclaimed assets across multiple sectors, not just banking.

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Agriculture1

News on Air

Context:

The Union Ministry of Agriculture and Farmers Welfare will conduct a month-long, nationwide “Khet Bachao Abhiyan” from 1 to 30 June 2026, designed as an agricultural awareness and outreach campaign that combines sustainable farming practices, soil health improvement, and stronger farm-level decision-making.
The campaign’s main objectives are: (a) to promote the balanced and judicious use of fertilizers based on soil health and scientific recommendations, and (b) to provide weather-based, region-specific farm advisories, while linking farmers to the wider basket of government schemes and agricultural support.

Key Highlights

  • Campaign: Khet Bachao Abhiyan.
  • Duration: 1-30 June 2026.
  • Run by: Ministry of Agriculture and Farmers Welfare, Government of India.

Aim of the Abhiyan:

(a) Balanced and judicious fertilizer use based on soil health.
(b) Region-specific, weather-based advisories for farmers.
(c) Scheme convergence for farmer support.
(d) Stronger farm-level decision-making.

Five core features:

FeatureDetail
Balanced fertilizer useSoil-test based, INM-oriented; promote organic, bio-, and green manures
Climate-smart advisoriesGuidance on crops, diversification, water, weather risks
Institutional participationPanchayats, KVKs, ICAR, State Governments, Agriculture Departments
Panchayat-centricVillage-level implementation with community leaders
Scheme convergencePM-KISAN, KCC, Pulses-Oilseeds Mission, Oil Palm Mission, Cotton Mission, mechanisation, water conservation

Schemes that the Abhiyan will help link farmers to:

SchemePurpose
PM-KISAN₹6,000 per year direct income support in three instalments
Kisan Credit Card (KCC)Short-term subsidised crop loans, also for allied activities
National Mission on Edible Oils (Oilseeds)Reducing edible-oil imports, raising oilseed production
National Mission on Edible Oils-Oil PalmBoosting oil palm cultivation under NMEO-OP
Cotton MissionImproving cotton productivity and value-chain
Sub-Mission on Agricultural Mechanisation (SMAM)Subsidies for tractors, drones, harvesters, etc.
PMKSY (Pradhan Mantri Krishi Sinchayee Yojana)Water conservation and per-drop-more-crop approach

Facts To Remember12

6

Admiral Krishna Swaminathan Assumes Charge as Chief of Naval Staff

Admiral Krishna Swaminathan officially assumed charge as the new Chief of the Naval Staff (CNS) of the Indian Navy during a formal ceremony held in New Delhi. He succeeded Admiral Dinesh K. Tripathi as the head of India’s naval forces.

7

Dr. Jitendra Singh Inaugurates India’s First ‘SkyCast’ Aviation Weather Monitoring System

Union Minister Dr. Jitendra Singh inaugurated India’s first ‘SkyCast’ aviation weather monitoring system at the Indira Gandhi International (IGI) Airport in New Delhi. Developed under Mission Mausam, the system makes India the 19th country globally to deploy an integrated aviation weather monitoring platform. SkyCast aims to improve aviation safety and reduce fog-related disruptions through real-time weather monitoring and advance forecasting alerts of up to three hours.

8

NITI Aayog Releases 10-Year Roadmap for India’s Semiconductor Industry

NITI Aayog’s Frontier Tech Hub released India’s first comprehensive semiconductor roadmap titled “Future of India’s Semiconductor Industry”. The roadmap outlines a long-term strategy to build a USD 120–150 billion semiconductor value chain by 2035 and position India as a major global hub for chip manufacturing, design, packaging, and testing. The report projects India could capture 10–13% of the global semiconductor market by 2035 through a ‘More-than-Moore’ manufacturing strategy.

9

MCA Expands CSR Rules to Include ZCZP Instruments on Social Stock Exchanges

The Ministry of Corporate Affairs (MCA) amended the Companies Act CSR framework by including subscription to Zero Coupon Zero Principal (ZCZP) Instruments listed on Social Stock Exchanges (SSEs) as an eligible Corporate Social Responsibility (CSR) activity. The reform allows companies to channel CSR funds towards eligible not-for-profit organizations through regulated financial instruments. CSR spending through ZCZP instruments has been capped at 10% of annual CSR expenditure.

10

Odisha Signs MoU with Intel and 3DGS for Semiconductor Manufacturing Facility

The Government of Odisha signed an MoU with Intel and 3D Glass Solutions (3DGS) to establish a USD 3.3 billion advanced packaging glass-core substrate manufacturing facility in the Bhubaneswar–Khurda region. The project will focus on semiconductor packaging technologies and high-density interconnect substrates, strengthening India’s semiconductor manufacturing ecosystem under the India Semiconductor Mission.

11

NISM Partners with Galgotias University for Financial Education Expansion

The National Institute of Securities Markets (NISM), established by Securities and Exchange Board of India, partnered with Galgotias University to strengthen industry-oriented financial education and training. The collaboration will provide students with access to NISM certifications, e-learning modules, market simulation platforms, and specialized training in securities markets, fintech, derivatives, and risk management.

12

Bajaj Finserv and IIT Bombay Launch ‘Finserv Intelligence’ Initiative

Bajaj Finserv partnered with Indian Institute of Technology Bombay to launch “Finserv Intelligence”, a strategic initiative focused on Artificial Intelligence (AI) and deep-tech research. The initiative plans investments of Rs.1,500–2,000 crore over five years in AI innovation startups and research projects related to cybersecurity, quantum technologies, healthcare, and digital financial inclusion.

13

Tamil Nadu Farmer Valluvan Honoured as FAO ‘Soil Farmer Hero’

Valluvan, a farmer from Pollachi district in Tamil Nadu, was honoured as a “Soil Farmer Hero” by the Food and Agriculture Organization for adopting sustainable and multi-crop farming practices. Supported by the Isha Foundation’s Cauvery Calling initiative, he transformed his 11-hectare farm into a diversified agricultural enterprise cultivating over 14 crop varieties.

14

Rajesh Kumar Singh Given Additional Charge as DRDO Chairman

Rajesh Kumar Singh, Defence Secretary in the Ministry of Defence, was assigned additional charge as Secretary of the Department of Defence Research and Development and Chairman of the Defence Research and Development Organisation. He assumed the responsibilities following the completion of Dr. Samir V. Kamat’s tenure.

15

Former Congress MP K. P. Dhanapalan Passes Away

Senior Congress leader and former Member of Parliament K. P. Dhanapalan passed away at the age of 76 in Kerala. He served as MP from Chalakudy between 2009 and 2014 and held several important positions in the Congress party and cooperative sector in Kerala.

16

Rajnath Singh Releases Commemorative Volume on ‘Operation Sindoor’

Union Defence Minister Rajnath Singh released a commemorative volume titled “Operation Sindoor” documenting testimonies and experiences of 100 Indian Armed Forces personnel involved in the operation. The publication highlights India’s integrated multi-domain warfare capabilities demonstrated during the operation launched after the Pahalgam terror attack in 2025.

17

International Week of Solidarity with the Peoples of Non-Self-Governing Territories 2026 Observed

The United Nations observed the International Week of Solidarity with the Peoples of Non-Self-Governing Territories from May 25 to 31, 2026. The observance promotes decolonization, self-determination, human rights, and sustainable development for Non-Self-Governing Territories across the world.

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