CURRENT AFFAIRS
02 July, 2025
1. PAKISTAN ASSUMES UN SECURITY COUNCIL PRESIDENCY FOR JULY 2025 –
• Pakistan’s UNSC presidency for July 2025 is a key global development because It represents Pakistan’s growing role in international diplomacy. The country will chair crucial meetings amid escalating global conflicts and humanitarian crises.
Objectives and Vision
• Uphold UN Charter principles, international law, and multilateral cooperation.
• Promote peaceful resolution of conflicts through diplomacy and dialogue.
• Ensure a transparent, inclusive, and responsive UNSC leadership.
• Key Roles During Presidency
• Presiding Officer: Ambassador Asim Iftikhar Ahmad, Pakistan’s Permanent Representative to the UN.
2. INS TAMAL COMMISSIONED IN KALININGRAD –
• INS Tamal was officially commissioned on July 1, 2025, in Kaliningrad, Russia. It is the last foreign-built major warship being inducted into the Indian Navy. The ship signifies a strategic shift towards indigenisation of defence production under India’s national initiatives. It also marks the continuation of the Indo-Russian defence partnership, as Tamal is the 51st ship built under this collaboration over the last 65 years.
Key Highlights
• Ship Name: INS Tamal (F71)
• Project: 1135.6 / Talwar-class
• Commissioned on: July 1, 2025
• Location: Yantar Shipyard, Kaliningrad, Russia
• Commanding Officer: Captain Sridhar Tata
• Fleet: Indian Navy’s Western Fleet
• Indigenous content: 26% (includes BrahMos missiles, HUMSA-NG sonar)
Specifications and Capabilities
• Stealth Multi-role Frigate
• Four-Dimensional Warfare Capability: Air, Surface, Sub-surface, and Electronic warfare
3. INDIA COMMISSIONS SECOND PROJECT 17A STEALTH FRIGATE IN RECORD TIME –
• INS Udaygiri’s induction has made headlines due to Its record delivery time of 37 months, showcasing fast-track indigenous shipbuilding. Being part of the Project 17A initiative, which is the next-generation warship project following the successful Shivalik-class frigates.
• A strategic milestone in India’s defence indigenisation drive, with over 200 MSMEs contributing to its construction. Its symbolic naming after a decommissioned warship, reviving naval legacy with modern technology.
Key Features of INS Udaygiri
• Project: Part of Project 17A, a class of stealth-guided missile frigates.
• Design & Build: Designed by Warship Design Bureau; built by MDSL, Mumbai.
• Delivery Time: Delivered in record 37 months from its launch.
• Stealth Capabilities: Advanced stealth shaping and sensors to reduce radar signature.
4. THE RISING DEBT CRISIS IN DEVELOPING COUNTRIES –
• The fourth International Conference on Financing for Development recently commenced in Seville, Spain. This event marks the growing debt crisis faced by developing nations. Since 2010, sovereign debt in these countries has surged , now accounting for 30% of the global total. This situation stems from a combination of historical financial practices and current economic pressures.
Historical Context of Debt Accumulation
• The roots of the debt crisis can be traced back to the oil price surge in the 1970s. Oil-importing developing countries faced financial strain as petrodollars flowed into Western banks. These funds were then lent back to developing nations, creating a cycle of dependency. The 1980s recession in industrialised nations led to rising interest rates, trapping many developing countries in a cycle of borrowing just to service existing debts.
5. INDIA-PAKISTAN PRISONER EXCHANGE –
• India and Pakistan conducted their biannual exchange of prisoner lists. This exchange is part of the Agreement on Consular Access established in 2008. It aims to enhance transparency and cooperation regarding humanitarian issues between the two nations. The lists included number of civilian prisoners and fishermen from both sides.
Background of the Agreement
• The Agreement on Consular Access was signed in 2008. It mandates both countries to share lists of prisoners in their custody twice a year. This initiative aims to address humanitarian concerns and improve relations. The agreement reflects a commitment to uphold human rights and ensure the welfare of prisoners.
Recent Exchange Details
• On July 1, 2025, Pakistan provided a list of 246 Indian prisoners. This included 53 civilians and 193 fishermen. In return, India shared a list of 463 Pakistani prisoners, comprising 382 civilians and 81 fishermen. The exchange took place simultaneously through diplomatic channels in New Delhi and Islamabad.
MCQ QUIZ
Q1. Which institution has released the Financial Stability Report for June 2025 ?
a) NITI Aayog
b) Reserve Bank of India (RBI)
c) National Bank for Agriculture and Rural Development (NABARD)
d) Securities and Exchange Board of India (SEBI)
Q2. On July 1, 2025, the State Bank of India (SBI) will complete 70 years since its establishment in its current form. Which Act of Parliament officially led to the creation of SBI in 1955 ?
a) Banking Companies Act, 1949
b) RBI Act, 1934
c) State Bank of India Act, 1955
d) Nationalisation of Banks Act, 1969
Q3. What is the revised remittance transfer tax rate in the U.S. Senate draft of the One Big Beautiful Bill Act ?
a) 5%
b) 3.5%
c) 2%
d) 1%
Q4. Which of the following statements about the National Turmeric Board is/are correct ?
1. It was officially notified in January 2025.
2. It functions under the Union Ministry of Commerce and Industry.
3. Its headquarters are in Telangana.
a) 1 and 2 only
b) 2 and 3 only
c) Only 1 and 3
d) 1, 2, and 3
Explanation-
• The National Turmeric Board was notified in October 2023 and launched in January 2025, so statement 1 is incorrect. It operates under the Union Ministry of Commerce and Industry (statement 2 correct), and its headquarters are in Nizamabad, Telangana (statement 3 correct).
Q5. Which of the following statements about cloud seeding is correct ?
a) Cloud seeding is effective only in a dry environment and does not use silver iodide.
b) Cloud seeding is a scientific process that condenses water vapor in clouds to produce rain or snowfall.
c) Cloud seeding works only on warm clouds and does not involve the use of dry ice.
d) Cloud seeding results in a 50-60 percent increase in rainfall.
Explanation-
• Option A is incorrect because cloud seeding is not effective in a dry environment; it requires the presence of moist or supercooled clouds. Additionally, silver iodide is a key component used in the process.
• Option B is correct because cloud seeding is a scientific process that uses substances like silver iodide, salt, or dry ice to condense water vapor, leading to rain or snowfall.
• Option C is incorrect because cloud seeding works on both warm and cold clouds, and dry ice is used in cold cloud seeding.
• Option D is incorrect because, according to the content, cloud seeding results in an average rainfall increase of 5-15 percent, not 50-60 percent.
Answer Key
1 | 2 | 3 | 4 | 5 |
B | C | D | B | B |