Daily Current Affairs- 2nd July 2025

Daily Current Affairs- 2nd July 2025

⁠INS Tamal Commissioned in Kaliningrad 

In the News: India commissioned INS Tamal (F71) at the Yantar Shipyard in Kaliningrad, Russia, marking a significant milestone in naval modernization. It is the last foreign-built warship inducted into the Indian Navy.

Key Points:

• Ship & Class: INS Tamal is an upgraded Talwar‑class (Project 1135.6) “Tushil” variant, part of the Krivak III design lineage. It is the eighth Talwar-class frigate—second of the Tushil batch.
• Commissioning: Took place on 1 July 2025 at Yantar Shipyard, Kaliningrad. Ceremony led by Vice Admiral Sanjay Jasjit Singh, Western Naval Commander, alongside Russian and Indian dignitaries.
• Crew & Command: Manned by roughly 250 sailors and 26 officers, commanded by Capt. Sridhar Tata, specialist in gunnery and missile warfare.
• Missiles: 8 × BrahMos supersonic cruise missiles,  Shtil‑1 MRSAM via vertical launch system (2×12-cell, ~50 km range)
• Guns & CIWS: 1 × 100 mm A‑190 main gun , 2 × AK‑630 CIWS.
• ASW Suite: RBU‑6000 rocket launcher,   Heavyweight torpedo tubes.
• Aviation Capabilities: Can deploy Kamov Ka‑28 (ASW) or Ka‑31 (AEW)
• Engine Sourcing: Equipped with Ukrainian-built M7N1 gas turbines, delivered late 2020/early 2021.
• Combat Capability: Designed for four-dimensional warfare: air, surface, subsurface, and electromagnetic—significantly enhancing India’s blue-water operational reach.
• Indigenisation Drive: With ~26% local systems integrated, it reinforces the push toward Aatmanirbhar Bharat, and serves as a bridge to domestically built platforms like the Nilgiri-class (P‑17A) and future Triput/Tavasya
• Fleet Assignment: Assigned to the Western Fleet (“Sword Arm”), homeported at Karwar, and will transit via overseas port visits on its return voyage.
• Ceremony Highlights: Joint Guard of Honour, signing of delivery document, lowering of Russian ensign, hoisting of Indian naval flag, Emphasis on India–Russia naval cooperation and India’s shift to indigenous maritime strength. 

⁠India’s Research Development and Innovation Scheme

In the News: The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Research Development and Innovation (RDI) Scheme with an outlay of ₹1 lakh crore, aimed at bolstering India’s research and innovation ecosystem, particularly in sunrise and strategic sectors.

Key Points:

• Scheme Launch: Approved by the Cabinet on July 1, 2025, under Prime Minister Modi’s chairmanship. Designed to foster private sector-led R&D through long-term concessional loans and equity support.
• Funding Goal: Central corpus of ₹1 lakh crore, channelled to innovation projects via a two-tier structure managed by ANRF—first through a Special Purpose Fund (SPF), then via second-level fund managers.
• Financial Instruments: Concessional long-term loans, potentially at zero or low interest. Equity investments especially targeting startups. Contributions to a Deep-Tech Fund of Funds for supporting emerging technologies.
• Objectives: Encourage private-sector RDI in sunrise and strategic domains to enhance self-reliance and national competitiveness. Finance projects at advanced Technology Readiness Levels (TRLs) with transformative potential. Support critical technology acquisition in strategic sectors. Establish a Deep-Tech FoF to back emerging technology ventures.
• Governance & Implementation: ANRF Governing Board, chaired by the PM, provides strategic oversight. Executive Council of ANRF approves guidelines, recommends fund managers and project domains. An Empowered Group of Secretaries (EGoS), led by the Cabinet Secretary, reviews performance and approves changes. Department of Science & Technology (DST) is the nodal executing agency.
• Private Sector Focus: Aims to bridge the gap in private R&D financing, which has traditionally lagged behind public sector investment, and foster commercialization-led innovation.
• Strategic Impact: Viewed as a game changer for India’s innovation ecosystem—enhancing global competitiveness, economic security, and moving towards a self-reliant “Viksit Bharat by 2047. 

Pakistan Assumes UN Security Council Presidency for July 2025⁠ 

In the News: On July 1, 2025, Pakistan formally assumed the rotating presidency of the UN Security Council for the month of July, during its current two‑year non‑permanent term (January 2025–December 2026).

Key Points:

• Presidency Handover: Pakistan begins its monthly presidency on July 1, 2025, rotating in accordance with the UNSC’s alphabetical order. It earned 182 out of 193 votes as a non‑permanent member.
• Presidential Leadership: Chaired by Ambassador Asim Iftikhar Ahmad, Pakistan promises transparent, inclusive, rule-based leadership, prioritizing international law, multilateral cooperation, and conflict resolution.
• Major Events in July: Under Pakistan’s chair: July 22: Open debate on “Promoting International Peace and Security through Multilateralism and the Peaceful Settlement of Disputes.” July 23: Open debate on the Question of Palestine. July 24: Briefing on “UN cooperation with regional and sub‑regional organizations,” including the OIC.
• Strategic Context: Pakistan intends to highlight its diplomatic and peace-building credentials, including its role in Taliban Sanctions Committee and Chair of the Counter-Terrorism Committee.  India is reportedly planning a photo exhibition and will spotlight its contributions to the UN SDGs and highlight cross‑border terrorism narratives.
• National SDG Commitment: Pakistan adopted the UN Sustainable Development Goals (SDGs) as its national agenda, backed by a 2016 parliamentary resolution. The country uses SDG units at federal and provincial levels for implementation and tracking.
• UN Cooperation: The UN in Pakistan supports through the Pakistan One UN Programme III (2018–2022), which aligns stakeholders and resources to meet SDG targets, emphasizing policy alignment, monitoring frameworks, and finance mobilization through technology.
• July Relations: During its UNSC presidency, Pakistan is expected to connect its multilateral diplomacy with SDG advocacy, spotlighting its green and development agenda. 

UN Sustainable Development Goals Index 2025: Top 10 Best and Worst Performing Countries

In the News: The Sustainable Development Report 2025, published by the UN Sustainable Development Solutions Network (SDSN), ranks all 193 UN Member States on progress toward the 17 SDGs. Europe continues to dominate, while global progress remains off track, with only 17 % of targets on track for 2030.

Key Points:

Top 10 Performers (2025):

S. No.	Country	Score (2025)
1	Finland	87.0
2	Sweden	85.7
3	Denmark	85.3
4	Germany	83.7
5	France	83.1
6	Austria	83.0
7	Norway	82.7
8	Croatia	82.4
9	Poland	82.1
10	Czechia	81.9

                                           

• European nations occupy 19 of the top 20 spots.

Bottom 10 Performers (2025):

S. No.	Country	Score (2025)
158	Madagascar	51.0
159	Niger	50.3
160	Afghanistan	49.1
161	Sudan	49.1
162	DR Congo	48.2
163	Yemen	47.7
164	Somalia	46.1
165	Chad	46.0
166	Central African Republic	45.2
167	South Sudan	41.6

Global Context: No UN Member State is on course to fully achieve the 17 SDGs by 2030; only 17 % of individual targets are currently on track. East and South Asian economies like Nepal, Cambodia, and the Philippines show significant improvement since 2015.

• India's Progress: For the first time, India has entered the top 100, ranking 99th with a score of 67.0 in 2025. A consistent ranking climb from 120th in 2021, 121st in 2022, 112th in 2023, and 109th in 2024. In Asia, India trails behind Bhutan (74th), Nepal (85th), Maldives (53rd), and Sri Lanka (93rd), but ranks above Bangladesh (114th) and Pakistan (140th). Other benchmarks: China (49th, 74.4 points); USA (44th, 75.2 points).

Global Unicorn Index 2025: Top 10 Countries with the Most Billion-Dollar Startups

In the News: The Hurun Global Unicorn Index 2025, released in June 2025 by the Hurun Research Institute, ranks countries by privately held startups valued at over US $1 billion (unicorns). The global count has hit a record 1,523 unicorns, with a combined valuation of US $5.6 trillion, reflecting the robust expansion of the global startup ecosystem

Key Points:

Top 10 Countries by Number of Unicorns (2025):

S. No.	Country	Number of Unicorns
1	United States	758
2	China	343
3	India	64
4	United Kingdom	61
5	Germany	36
6	France	30
7	Canada	28
8	Israel	20
9	South Korea	18
9	Singapore	18

Notable Figures & Trends: USA added 55 new unicorns since January 2024–Jan 2025 . China added 36 new unicorns over the same period . Global spread: unicorns now spread across 52 countries and 307 cities—diversifying beyond traditional hubs .

• Sector Mix: Combined, Fintech, SaaS, and AI account for 31% of the unicorn population (Fintech: 197; SaaS: 151; AI: 128)
• Country Highlights:
• United States: Nearly half of all unicorns (758); major hubs include San Francisco (199 unicorns), New York (142), Boston, and Austin . Most valuable unicorns (e.g., SpaceX at US $350 billion) are US‑based
• China: Home to 343 unicorns centered in Beijing, Shanghai, Shenzhen, Guangzhou Heavyweights include ByteDance, Ant Group, and Shein .
• India: Ranked 3rd with 64 unicorns; key cities: Bengaluru (7th globally), Mumbai (22nd), Gurugram (27th) . Leading sectors: fintech, gaming, and ed‑tech; top unicorns include Zerodha (~US $8.2B), Dream11 (~US $8B), Razorpay (~US $7.5B)
• Europe & Others: UK (61 unicorns; London is 5th in global city rankings) ,Germany: 36 unicorns, with Berlin leading (13th city rank), France: 30 unicorns (Paris 8th globally) ,Canada: 28 unicorns (Toronto 24th city rank) , Israel: 20; Tel Aviv ranked 24th ,South Korea & Singapore: 18 each

 

 RBI’s Financial Stability Report

 In the News: The Reserve Bank of India (RBI) released its Financial Stability Report, highlighting that India’s financial system remains resilient amid global and domestic headwinds.

Key Points:

• Asset Quality & NPA Levels : Gross NPA ratio for 46 banks stood at just 3% in March 2025, one of the lowest in decades. Projected to remain range-bound at 2.5% by March 2027 under normal growth; could spike to 5.3–5.6% under stress scenarios. Stalled asset quality gains were driven by recoveries, write-offs, and restrained credit growth.
• Capital Buffers & Bank Resilience: Capital Adequacy (CRAR) across banks hit a record high of 2% in March 2025, expected to ease slightly to ~17% by 2027. Stress tests confirm banks and NBFCs can withstand macroeconomic shocks—"adequate capital" remains intact.
• Retail Loan Delinquency: Rising stress observed in unsecured consumer credit—delinquencies higher in credit cards and microfinance segments.
• Household Debt & Exposure: Household debt at 9% of GDP, below emerging market average (46.6%); non-housing loans form 54.9% of household borrowings.
• Sectoral Health Snapshot: Banks: Strong earnings, robust capital buffers. Non-performing assets at multi-decade lows.  
• NBFCs: Healthy capital adequacy, improving loan book quality
• Insurance sector: Solvency ratios remain comfortably above regulatory thresholds
• Mutual funds & clearinghouses: Demonstrated resilience in stress testing.
• External & Global Risks: Global uncertainties—trade fragmentation, geopolitical tension, climate change—heighten risk exposure.  RBI advises regulators to remain “vigilant, prudent, and agile.”
• Macro Outlook: GDP growth forecast at 5% for 2025–26 and 6.7% for 2026–27, underlining sound fundamentals. Inflation outlook remains benign; domestic drivers include strong agricultural output and easing food prices. 

Kharai Camel 

In the News: Recently, four endangered Kharai camels—including two pregnant and two lactating females—tragically drowned in a coastal swamp near Jangi village, Kutch, Gujarat, on June 23, 2025. This incident underscores the mounting threats to the species, primarily due to habitat loss from industrial expansion and destruction of mangrove ecosystems.

Key Points:

• Unique Adaptation: Known locally as the “swimming camel” or Dariyataru, the Kharai camel is uniquely adapted to saline coastal environments, capable of swimming 3+ km to graze on mangrove islands. It possesses webbed feet and a digestive system suited for salt-tolerant plants.
• Conservation Status: Classified as Endangered by the IUCN. Officially recognized as a distinct breed by India’s NBAGR in 2015. Population estimates vary—around 4,000–6,200 across Gujarat, but sharply declining in Kutch (from ~1,952 in 2019 to ~1,096 in 2024).
• Ecological & Cultural Significance: Integral to coastal mangrove ecosystems, helping maintain their health. Central to the livelihood and identity of Rabari and Fakirani Jat pastoralist communities for over 400 years. Their milk is nutritious and may have therapeutic benefits.
• Major Threats: Mangrove destruction due to illegal salt pans, port expansions, cement plants, and industrial encroachment. Blocking of tidal creeks—a vital route for camel movements—further degrades habitat. Climate variability and erratic rainfall compound these stresses.
• Population Decline:Recorded drops in Kutch: from 1,952 (2019) to 1,096 (2024). Gujarat-wide counts range from 4,000 to 6,200 individuals, with concentration in coastal Kutch and pockets in South Gujarat.
• Conservation Efforts: National Green Tribunal (NGT) directives (2019–2025) ordering creek restoration and halting mangrove encroachment. NGOs like Sahjeevan and breeders’ groups (e.g., KUUMS) are campaigning for camels’ ecological and cultural rights. Legal recognition as endangered provides a framework for habitat protection.

 

⁠ Union Cabinet Clears New National Sports Policy to Boost India’s Sporting Ecosystem

 In the News: The Union Cabinet, chaired by Prime Minister Modi, on July 1, 2025, approved the National Sports Policy 2025—also branded “Khelo Bharat Niti”. The policy replaces the 2001 framework to transform India into a global sporting power and boost its chances of hosting the 2036 Olympics.

Key Points:

• Policy Launch & Vision: Introduced on July 1, the policy is built on five pillars:Excellence on Global Stage, Sports for Economic Development, Sports for Social Development, Sports as a People’s Movement, Integration with Education (NEP 2020) .
• Elite Performance: Focuses on systematic talent identification, world-class coaching, competitive leagues, and sports science Foreign-born Indian-origin athletes may be encouraged to represent India.
• Mass Participation & Fitness: Proposes fitness indices in schools, colleges, workplaces; campaigns like family weekends, yoga challenges, and community-level sports events to popularize fitness.
• Infrastructure & Governance: Plans for sports facilities in rural and urban regions, a Sports Regulatory Board to oversee federations, and reforms for transparent, professional federation governance.
• Economic Engine: Will promote sports tourism, international event hosting, growth in indigenous sports equipment manufacturing, and support startups via PPP/CSR-driven funding.
• Social Inclusion: Encourages participation from women, tribal/economically weaker groups, PwDs, LGBTQ+ individuals; aims to revive traditional Indian games; integrating sports into education under NEP 2020 framework.
• Technology & Monitoring: Emphasizes AI and data analytics for performance tracking, with KPIs and benchmarks in a national monitoring system; urges states to model policies aligned with federal goals.