Current Affairs - July 7, 2025 Current Affairs

Sahil Kini, a fintech expert and co-founder of Setu, has been appointed as the new CEO of the Reserve Bank Innovation Hub (RBIH) in Bengaluru, succeeding Rajesh Bansal. Kini brings significant experience from his work at Setu, iSPIRIT Foundation, and firms like McKinsey and Aspada. He has contributed to key digital infrastructure projects such as Aadhaar and UPI. His leadership marks a new phase for RBIH, focusing on expanding innovation in digital finance, improving financial inclusion, and building partnerships. His appointment follows a competitive selection process, with over 400 applicants considered for the role, underlining the importance of this strategic position.

India has been ranked 4th among the world’s most equal societies by the World Bank, based on the Gini Index. With a score of 25.5, India follows only the Slovak Republic (24.1), Slovenia (24.3), and Belarus (24.4), which means India is ahead of most countries globally in terms of income and wealth equality. The Gini Index is a standard economic measure of inequality, where a lower value signifies a more equal distribution. This ranking reflects significant progress in economic inclusivity and income distribution within India, positioning it as a leading example among developing nations striving for social and economic equity.

On July 3, 2025, IndiGo Airlines appointed Amitabh Kant as a Non-Executive Director on its Board of Directors. Kant, a former CEO of NITI Aayog and India's G20 Sherpa, brings decades of policy experience and leadership in national programs such as Make in India and Startup India. His appointment is viewed as a strategic step to support IndiGo's ambitions for global expansion and operational excellence. With a strong background in governance, innovation, and international relations, Kant is expected to contribute significantly to the airline's long-term growth strategy and its vision of positioning India as a major travel and aviation hub.

The Phenome India ‘National Biobank’ is located at the CSIR-Institute of Genomics and Integrative Biology (IGIB) in New Delhi. Inaugurated by Dr. Jitendra Singh, the Union Minister of State for Science and Technology, the biobank is a significant step in biomedical research and data collection in India. It aims to gather genomic, lifestyle, and clinical data from participants, contributing to advancements in personalised medicine and public health. The Ministry of Science and Technology supports this initiative, making New Delhi a central hub for this national-scale scientific effort to improve healthcare outcomes through integrative biological research.

Himachal Pradesh became the first Indian state to introduce Aadhaar-based face authentication (FaceAuth) for ration distribution under the Public Distribution System (PDS). This system, launched in July 2025, was developed to address challenges with previous methods like fingerprint scans and OTP verification, which often failed in hilly and remote areas due to network issues or biometric mismatches. The new FaceAuth method uses a mobile app on Fair Price Shop dealers’ smartphones to scan beneficiaries’ faces and match them with Aadhaar records, ensuring quicker and more reliable authentication. This initiative marks a significant advancement in digital governance and inclusive public service delivery.

The 17th BRICS Summit in 2025 was hosted by Brazil in the city of Rio de Janeiro and attended by Prime Minister Narendra Modi along with other BRICS leaders. The summit served as a critical platform for discussing reforms in global governance, addressing issues of peace and security, and promoting the role of the Global South. One of the key themes was the future of Artificial Intelligence and strengthening cooperation among BRICS nations. Brazil’s hosting of this summit underlined its importance in international diplomacy and its role in shaping multilateral efforts for global reform, especially on matters like UN restructuring and AI governance.

In 2024, India became the fourth-largest consumer of biofuels globally, surpassing China, as reported in the Statistical Review of World Energy 2025. India's biofuel usage rose by 40% from the previous year, reaching 77 thousand barrels of oil equivalent per day. Although India still lags behind in biofuel production compared to China, this milestone highlights the country's commitment to clean energy and reducing carbon emissions. Biofuels such as ethanol and biodiesel, which are derived from renewable sources, play a crucial role in achieving sustainability in the transport and industrial sectors. This ranking underscores India’s growing leadership in green energy adoption.

Aryaveer Dewan clinched the U17 boys’ title at the Asian Junior Squash Championships, bringing an end to India’s 13-year title drought in this category. He achieved this milestone by defeating the defending champion, Nikhileswar Moganasundharam of Malaysia, showcasing exceptional skill and composure. The tournament was held in Gimcheon, South Korea. Aryaveer’s win marks a significant achievement for Indian junior squash and adds to the country’s growing presence in the sport. His victory was one of the major highlights alongside Anahat Singh’s triumph in the U19 girls’ category, making the event a memorable one for Indian squash.

Vaibhav Suryavanshi, a 14-year-old Indian cricketer, created history by scoring the fastest known century in Youth ODIs. He achieved this milestone in just 52 balls during a match against England in Worcester. His aggressive innings featured 13 boundaries and 10 sixes, showcasing extraordinary talent at such a young age. Alongside his incredible performance, he also built a massive 219-run partnership for the second wicket with teammate Vihaan Malhotra, who remained unbeaten on 100. This record-breaking feat not only highlights Vaibhav’s batting prowess but also adds to India’s growing reputation in youth cricket on the international stage.

Sakshi Chaudhary emerged as the gold medalist for India at the 2nd World Boxing Cup 2025 in the women’s 54kg category. She achieved this by defeating Yosline Perez of the USA with a unanimous verdict, showcasing her dominance in the final bout. This victory was especially notable as it marked India’s first gold medal in the tournament. A two-time youth world champion, Sakshi’s performance highlighted her continued excellence in international boxing. Other Indian participants like Meenakshi and Pooja Rani also performed commendably, securing silver medals, but it was Sakshi who stood at the top of the podium.

Indian Bank implemented two major customer-friendly reforms in July 2025. First, it eliminated penalties for not maintaining a minimum balance in savings accounts starting July 7, helping to expand financial access for students, senior citizens, rural families, and small business owners. Second, Indian Bank reduced its one-year Marginal Cost of Funds-Based Lending Rate (MCLR) by 5 basis points, bringing it down to 9%, effective July 3, 2025. This cut in lending rates means borrowers will benefit from slightly lower interest costs on new loans. Both measures reflect the bank’s effort to promote financial inclusion and make banking more accessible and affordable.

India secured a total of 9 medals at the Asian Para Archery Championships 2025, comprising 3 gold, 3 silver, and 3 bronze medals. This strong performance placed India 2nd in the overall medal standings, just behind China. Harvinder Singh was a standout performer, winning two golds—in Men’s Recurve Individual and Mixed Recurve Team with Bhawna—as well as a silver, achieving a remarkable hat-trick of podium finishes. Another significant contribution came from Sheetal Devi and Jyoti, who claimed gold in the Compound Women’s Team event by defeating China, underscoring India’s rising stature in para archery on the Asian stage.