Current Affairs

In July 2026, Microsoft announced a 2.1% headcount reduction around the world, which impacted the Xbox team globally as well as operations in India. This was part of Microsoft's restructuring efforts as the gaming division faced multiple headwinds.

The Centre approved the 'Aastha Van Sanrakshan Yojana' with a ₹3,000 crore corpus (running from 2026–27 to 2030–31) to conserve and restore nearly 15,000 sacred groves, also known as 'Aastha Vans'.

According to the government advisory, the DSR method saves 20% water compared to traditional transplanting which requires 2,500 to 3,000 litres of water to produce one kilogram of rice. DSR also reduces cultivation costs by approximately ₹5,000 per acre and allows the crop to mature 12-15 days earlier.

The Chhattisgarh government issued an advisory on July 3, 2026, emphasizing DSR method against the backdrop of uncertainty of rainfall due to El Niño, a climate phenomenon that tends to weaken the South Asian monsoon. This is relevant for understanding climate impacts on agriculture policy.

According to AMFI data, the number of outstanding SIP accounts increased to 10.5 crore in June 2026 for the first time after four months of staying around 10.4 crore accounts. Of these, 9.7 crore were contributing SIPs, constituting 93% of all outstanding SIP accounts.

As per the Association of Mutual Funds of India (AMFI), Indian investors invested ₹28,973 crore into equity-based mutual fund schemes in June 2026, which was 26.5% more than the ₹22,907 crore invested in May 2026. This represented a recovery after net inflows had fallen 40.4% in May 2026.

Indian Bank's domestic CASA ratio increased to 39.73% in June 2026 from 38.97% in the previous year. CASA ratio is an important banking metric indicating the proportion of low-cost deposits, which is crucial for a bank's profitability and is frequently asked in banking exams.

Indian Bank, headquartered in Chennai, posted a net profit of ₹3,273 crore in the June quarter of FY27, which represents a 10% increase from ₹2,973 crore in the same quarter of the previous fiscal. This information is relevant for understanding the performance of public sector banks.

NCDEX designated Kochi as the delivery and pricing centre for the Black Pepper Futures contract. Initially, four contracts expiring in August, September, October, and November will be available for trading. The unit of trading has been fixed at 1 metric tonne, though some stakeholders have suggested it should be reduced to 200-250 kg for practical producer participation.

NCDEX announced that the black pepper futures contract will start trading from July 15, 2026, with Kochi designated as the delivery and pricing centre. The contract was suspended in 2010 following severe quality disputes and is being relaunched after receiving SEBI approval following litigation and legal hurdles that lasted over a decade.

SBI Funds Management's maiden public equity offering is valued at ₹11,600 crore, scheduled to open on July 14 and conclude on July 16, 2026. The entire IPO is an Offer for Sale (OFS) by promoters SBI and Amundi India Holding.

SBI sold 1.42% stake (2,88,32,748 equity shares) in SBI Funds Management Ltd to 30 investors for ₹1,655 crore at ₹574 per share in a pre-IPO placement ahead of the company's IPO scheduled for July 14-16, 2026.

Chief Minister A. Revanth Reddy stated that the next Assembly elections in Telangana are likely to be held in May or June 2029, instead of December 2028. This shift in schedule is attributed to the proposed delimitation exercise that would increase the number of Assembly constituencies from 119 to 182.

Telangana Chief Minister A. Revanth Reddy stated in July 2026 that after the proposed delimitation exercise, the Assembly constituencies in Telangana are likely to increase from the current 119 to 182. He also mentioned that Lok Sabha seats would increase from 17 to 26. This delimitation exercise would impact the timing of the next Assembly elections.

The student organizations demanded immediate resolution of delayed scholarship and fee reimbursement dues, regulation of private school fees, recruitment of teachers, improved infrastructure, and timely supply of educational materials. They also opposed the restructuring of schools under 'Young India Schools' and 'International Schools' initiatives.

The bandh was called by a combine of Left student organizations including SFI, AISF, PDSU, AIDSO, AIFDS, AISB and AIPSU. ABVP and NSUI were not mentioned as part of this particular protest combine in Telangana.

YiP 3.0 was organized by Yi Coimbatore Chapter in collaboration with Kumaraguru Centre for Public and Competitive Careers (KCPC) and the Department of Political Science, Kumaraguru College of Liberal Arts and Science (KCLAS). The event witnessed 109 student delegates from 14 schools participating in legislative proceedings.