Current Affairs - July 3, 2026 Current Affairs

IIT Bombay signed a Memorandum of Understanding (MoU) with SBI Life Insurance on 1st July 2026 to establish the Bharat AI & Cyber Innovation Hub for Insurance. The initiative aims to develop indigenous AI-based cybersecurity solutions tailored to the Indian insurance sector, enhancing the protection of customer data and digital systems. The collaboration also focuses on research in quantum technologies, innovation incubation, executive education, and talent development. Additionally, the partnership supports SBI Life's strategic transformation into an AI-native insurance company, promoting advanced technological innovation and strengthening India's cybersecurity capabilities in the financial services sector.

Odisha approved the Deep Sea Fishing Mission with an estimated outlay of ₹2,295.45 crore for implementation over the period 2026–2036. The mission aims to increase annual marine fish production by 2 lakh metric tonnes, raise marine exports to ₹5,000 crore per year by 2036, and generate more than 50,000 employment opportunities. A dedicated Blue Economy Hub (B-Hub) will serve as the central knowledge, innovation, and coordination centre for the mission. The Odisha Cabinet, chaired by Chief Minister Mohan Charan Majhi, also approved the Mukhyamantri Poshan Yojana to strengthen nutrition support for secondary school students.

The 12th India-Malaysia Sub Committee Meeting on Military Cooperation (SCMC) was held in New Delhi on 1st July 2026. The meeting was co-chaired by Amitabh Prasad from India's Ministry of Defence and Major General Amer Mahmud Bin Abdul Rahman of the Malaysian Armed Forces. Discussions focused on cyber security, defence technology, humanitarian assistance and disaster relief (HADR), capacity building, and enhanced military training cooperation. The SCMC serves as the principal military-to-military consultative mechanism between India and Malaysia and plays a key role in strengthening bilateral defence cooperation and regional security collaboration under the ADMM-Plus framework.

Punjab & Sind Bank celebrated its 119th Foundation Day on 30th June 2026 in New Delhi by introducing several digital banking initiatives aimed at enhancing customer services and operational efficiency. These included the launch of the Navjyoti mobile application for human resource management, Central Bank Digital Currency (CBDC) services, and a Digital Gold Loan facility. The bank also introduced the PSB Bharat Connect account, specially designed for central and state government employees. Established in 1908 and headquartered in New Delhi, Punjab & Sind Bank is one of India's leading public sector banks with the tagline, "Where Service is a Way of Life."

Lieutenant General Mohit Malhotra assumed the appointment of General Officer Commanding-in-Chief (GOC-in-C) of the Jaipur-based South Western Command after serving as the Chief of Staff at Headquarters Eastern Command. Commissioned into the 47 Armoured Regiment in June 1989, he has held several key command assignments, including service in the Siachen Glacier, command of an Armoured Division, and the Desert Corps. He has extensive expertise in operational planning, military intelligence, and technology absorption. For his distinguished service to the nation, he has been awarded the Ati Vishisht Seva Medal (AVSM) and the Sena Medal (SM).

Uttar Pradesh launched the Digi Rover Special Land Survey Campaign on 1st July 2026 from Saharanpur to modernise land demarcation across the state. The campaign uses Digi Rover based on Global Navigation Satellite System (GNSS) technology, replacing traditional land measurement methods with more accurate and transparent digital techniques. It aims to resolve over 79,000 pending land survey and demarcation cases by 15th August 2026. The Board of Revenue is supervising the initiative, while district-level officials, including District Magistrates, Tehsildars, Revenue Inspectors, and Lekhpals, are responsible for its implementation to reduce land disputes and improve public services.

India and Saudi Arabia signed a Memorandum of Understanding (MoU) on 30th June 2026 to strengthen cooperation in water resources management and sustainable development during the Saudi Water Week held in Jeddah. The agreement focuses on sharing best practices in water resource planning, enhancing technical cooperation, building institutional capacity, and improving sustainable water management and irrigation systems. The MoU was signed by India's Ambassador to Saudi Arabia, Suhel Khan, and Saudi Arabia's Minister of Environment, Water and Agriculture, Abdulrahman Abdulmohsen AlFadley. The partnership reflects the growing strategic relationship between the two countries in addressing water security and sustainable resource management.

The Borjuli site in the Sonitpur district of Assam was notified as a Biodiversity Heritage Site on 2nd July 2026 to conserve Oryza rufipogon, a wild rice species that is vital for developing climate-resilient and high-yielding rice varieties. The project, titled "In-situ Conservation and Management of Wild Rice," is funded by the National Rainfed Area Authority (NRAA) and implemented in collaboration with the Assam State Biodiversity Board and ICAR–National Bureau of Plant Genetic Resources (ICAR-NBPGR). The initiative supports biodiversity conservation, sustainable agriculture, and the preservation of valuable plant genetic resources for future food security.

George Russell, representing Mercedes, won the Austrian Formula One Grand Prix held at the Red Bull Ring on 28th June 2026. He completed the race in 1 hour 26 minutes 37.979 seconds, finishing ahead of Max Verstappen of Red Bull and his Mercedes teammate Kimi Antonelli. The victory strengthened Mercedes' position at the top of the Constructors' Championship with 302 points. Following the race, George Russell moved to second place in the Drivers' Championship standings with 131 points, while Kimi Antonelli continued to lead the championship with 171 points.

Air Marshal PV Shivanand assumed charge as the Air Officer Commanding-in-Chief (AOC-in-C) of the South Western Air Command on 1st July 2026. He succeeded Air Marshal Tejinder Singh, who took over as the Chief of Integrated Defence Staff to the Chairman Chiefs of Staff Committee (CISC). Before this appointment, Air Marshal PV Shivanand served as the Senior Air Staff Officer at the Headquarters Central Air Command. He also represented India internationally as the Defence and Air Attaché at the Embassy of India in Washington, DC, with concurrent accreditation to Canada, reflecting his extensive operational and diplomatic experience.