Daily Current Affairs- 14th June 2025

Daily Current Affairs- 14th June 2025

India’s CCEA Clears Two Major Railway Projects on June 11, 2025

In the News: On June 11, 2025, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, granted approval for two railway multitracking (doubling) projects aimed at bolstering rail infrastructure across Jharkhand, Karnataka, and Andhra Pradesh, with a combined investment of ₹6,405 crore.

Key Points:

• The two approved projects involve the doubling of the Koderma–Barkakana line (133 km) traversing Jharkhand’s coal belt and improving the connectivity between Patna and Ranchi, and the doubling of the Ballari–Chikjajur section (185 km) crossing Karnataka and Andhra Pradesh.
• Together, these multitracking projects will add approximately 318 kilometres of additional railway lines covering seven districts in the three states, which is expected to reduce congestion, enhance freight and passenger capacity, and lower logistics costs under India’s PM‑Gati Shakti master plan.
• The estimated total cost for implementing both projects is ₹6,405 crore, with the railway minister stating that the investments are part of a strategic push to reduce logistics costs, estimated to have already fallen by ~4% due to ongoing infrastructure enhancements.
• The project timelines set completion within the next three years, with implementation overseen by the Ministry of Railways, and are expected to generate direct employment of over 108 lakh person-days during the construction phase 

DFCC Bank Becomes First Foreign Entity to List Bond on NSE IX at GIFT City

In the News: Sri Lanka’s DFCC Bank PLC became the first foreign corporate issuer to list green bonds on the NSE International Exchange (NSE IX) at GIFT IFSC in Gujarat. The LKR 2.5 billion bonds are aimed at funding solar energy projects and signal a major step toward regional sustainable finance collaboration.

Key Points:

• Landmark Listing: DFCC Bank PLC, headquartered in Colombo, listed LKR 2.5 billion worth of green bonds on NSE IX at GIFT IFSC on June 9, 2025—the first time a foreign corporate has done so.
• Bell-Ringing Ceremony: Held at Grand Mercure, GIFT City, the event was attended by IFSCA Chair K. Rajaraman, NSE IX MD & CEO V. Balasubramaniam, DFCC CEO Thimal Perera, and Prins Perera, Senior VP, Treasury & Investment.
• Green Bond Purpose: Proceeds will finance ground- and rooftop-based solar PV projects in Sri Lanka, supporting the nation’s goal of generating 70% of its electricity from renewables by 2030, aligned with Sri Lanka’s Green Finance Taxonomy and ICMA green-bond principles .
• Strategic Listings: The bond was initially issued in Sri Lanka, later listed on the Luxembourg Stock Exchange, and now dual-listed on NSE IX—expanding global market reach.
• Regional & ESG Impact: The listing marks a strengthening of sustainable finance integration across South Asia, contributing to UN SDGs (7: Affordable & Clean Energy; 13: Climate Action) and promoting BIMSTEC regional cooperation.
• IFSCA & NSE IX Vision: IFSCA’s K. Rajaraman highlighted GIFT IFSC’s role as a hub for Global South green finance. NSE IX CEO V. Balasubramaniam expressed hope this would encourage more foreign issuers from Sri Lanka and neighboring countries.
• DFCC Bank’s Profile: Founded in 1955, DFCC Bank is a leading Sri Lankan institution. Rated A by Fitch, it offers retail, corporate, SME, treasury, and digital banking, and has been a pioneer in sustainable finance.
• GIFT IFSC & NSE IX Background: GIFT IFSC, governed by the IFSCA, was inaugurated in 2015. NSE IX, operational since 2017, commands over 99% share of GIFT SEZ trading, offering diverse financial instruments including ESG debt ⎯ facilitating this milestone listing. 

IAEA Declares Iran Non-Compliant: What It Means for Global Nuclear Security

In the News: On June 12, 2025, the IAEA's 35-nation Board of Governors formally declared Iran non‑compliant with its Non‑Proliferation Treaty (NPT) safeguards—the first such finding in two decades—citing unexplained uranium traces at undeclared sites and lack of cooperation since 2019.

Key Points:

• Official IAEA Declaration: On June 12, 2025, the IAEA Board passed a resolution (19‑in‑favor, 11 abstentions, opposed by Russia and China) stating Iran failed to meet its NPT obligations, noting undeclared nuclear materials at multiple locations. The Board regretted Iran's continued non‑cooperation since 2019 and concluded the IAEA could not rule out a diversion toward weapons use.
• Unexplained Uranium Traces & New Facility: Iran has yet to offer plausible explanations for uranium found at three undeclared sites linked to a covert nuclear program from the early 2000s. In response, Iran announced plans for a third enrichment facility and upgrades to its Fordow site, signalling hardened resolve.
• Stockpile Growth & Weaponization Concerns: The IAEA noted Iran increased its stockpile of ~60% enriched uranium by ~50% since February, reaching ~408 kg—enough for potential weapons-grade material. External analysis warns that Iran could produce a crude nuclear device within months if enrichment continues unchecked.
• Potential UN Security Council Referral: While the resolution stops short of triggering a referral to the UN Security Council, the IAEA stated the issue falls within its mandate—raising the possibility of renewed sanctions.
• Regional Tensions & Military Fallout: The declaration heightened regional tensions, coinciding with Israel’s June 13 pre‑emptive airstrike—Operation Rising Lion—on Iran’s nuclear facilities like Natanz and Fordow. Iran retaliated with missile and drone barrages on Israel, prompting global concern over nuclear site safety.
• Impact on Diplomacy & Negotiations: Nuclear negotiations between the U.S. and Iran in Oman have been delayed amid heightened security, complicating diplomatic attempts to revive or renegotiate a deal. Western powers (U.S., U.K., France, Germany) stress that diplomacy remains preferable, while advocating for snapback sanctions if Iran fails to restore compliance.
• IAEA Safety Monitoring: Amid military attacks, the IAEA confirmed internal contamination at Iran’s Natanz site but found no immediate external radiation threat. The agency continues close monitoring. 

Global Displacement Crisis

In the News: As of April 2025, over 122 million people—nearly 1 in every 67 globally—have been forcibly displaced due to conflict, violence, persecution, and environmental crises, marking a record high in displacement figures.

Key Points:

• Unprecedented Scale: The UNHCR's Global Trends Report 2024 revealed 1 million people were forcibly displaced by April 2025, up ~2 million from the previous year, and nearly double the number from a decade ago.
• Internal vs External Displacement: Internally Displaced Persons (IDPs):5 million, a 9% increase year-on-year, due to more intense and complex conflicts. Refugees: 42.7 million under UNHCR’s mandate, with an additional 8.4 million asylum-seekers.
• Country-Specific Crises: Sudan hosts the largest displacement crisis: 14+ million displaced (IDPs and refugees), overtaking Syria (13.5 million). Other major crises include Afghanistan (~10M displaced), Ukraine (~8.8M), Myanmar, and emerging hotspots like Haiti—with 1.3 million newly displaced in just six months.
• Human Toll & Protection Risks: Displaced populations face heightened risks: violence, trafficking, sexual assault, early marriage, exploitation of children. In Haiti, gang violence has internally displaced 1.3 million, leaving many in makeshift shelters without essential services.
• Funding Shortfalls: Aid funding has stagnated to 2015 levels despite skyrocketing displacement; crucial sectors—including protection, shelter, and healthcare—are deeply underfunded. UNHCR has frozen over $300 million in planned activities due to these “brutal and ongoing” cuts by major donors.
• Returns & Hope: Some rays of optimism: ~1.6 million refugees and 8.2 million IDPs returned home in 2024, the highest figures in decades. Still, two-thirds of refugees remain in neighboring countries, and 73% are hosted in low/mid-income nations.
• Future Projections & Appeals: The Danish Refugee Council warns that by end-2026, an additional ~6.7 million could be displaced globally if conflicts persist and funding wanes. UNHCR’s 2025 Global Appeal calls for massive funding to protect, assist, and empower the growing displaced population. 

Cristiano Ronaldo Named Global Ambassador for Esports World Cup 2025

In the News: On June 13, 2025, global football icon Cristiano Ronaldo was officially announced as the Global Ambassador for the Esports World Cup 2025 (EWC), set to be held in Riyadh, Saudi Arabia, from July 8 to August 24. The tournament offers a record-breaking prize pool of around $70 million and features 25 competitive games, making it one of the most prominent esports events ever.

Key Points:

• Historic Appointment: Ronaldo’s selection as Global Ambassador marks a notable crossover between elite traditional sports and competitive gaming, aimed at broadening esports’ mainstream appeal.
• Campaign Leadership: As ambassador, Ronaldo will spearhead the EWC’s global campaign before and during the seven-week event. His theme, “Rise Above,” reflects the core values of excellence, ambition, and pushing boundaries.
• Event Scope & Prize Fund: The EWC 2025 brings together approximately 2,000 elite players and 200 clubs from over 100 countries, competing in 25 tournaments across 24 games for a prize fund nearing $70 million ($70–70.45 m per various sources).
• Playable Character Debut: Ronaldo will appear in the game Fatal Fury: City of the Wolves—one of the EWC’s featured titles—a unique blend of his football persona and esports platforms
• Global Reach & Influence: With over one billion followers across social media platforms, Ronaldo’s involvement is expected to significantly amplify EWC’s visibility and draw in new audiences to competitive gaming.
• Strategic Alliance & Legacy: Ronaldo has supported EWC since 2023—participating in its announcement and the 2024 Closing Ceremony in Riyadh– The collaboration underlines Saudi Arabia’s broader Vision 2030 strategy to transform Riyadh into a global entertainment and gaming hub.

Passage Exercise (PASSEX) 2025

In the News: The Indian Navy conducted a high-profile Passage Exercise (PASSEX 2025) with the UK’s Carrier Strike Group in the North Arabian Sea, underscoring deepen maritime cooperation between the two nations.

Key Facts:

• The joint naval exercise was conducted as both the Indian and UK fleets crossed paths during deployment, aiming to strengthen interoperability, enhance communication protocols, and reaffirm their strategic commitment to maritime security.
• Indian assets deployed during PASSEX 2025 included the stealth frigate INS Tabar, a conventional submarine, and the P‑8I long-range maritime patrol aircraft, while the UK contingent comprised the HMS Prince of Wales and HMS Richmond from the UK Carrier Strike Group.
• The comprehensive two-day exercise featured complex naval maneuvers including anti-submarine warfare drills, tactical manoeuvres, and unified helicopter control, alongside a professional exchange of officers for real-time coordination and experience-sharing.
• PASSEX 2025 was conducted in the strategic North Arabian Sea, a vital corridor for global maritime trade and energy transport, highlighting its importance in maintaining freedom of navigation and regional stability.
• The exercise reaffirmed both countries’ commitment to a rules-based maritime order in the Indo-Pacific, strengthening tactical-level cooperation under the broader frameworks of the India–UK Comprehensive Strategic Partnership and shared security visions like SAGAR (Security and Growth for All in the Region).