Daily Current Affairs 3rd July 2025, Important News Headlines (Daily GK Update)

National News

Union Minister C.R. Patil Launches C-FLOOD, India’s First Unified Flood Forecasting Platform

• The C-FLOOD Unified Inundation Forecasting System, launched by Union Jal Shakti Minister C.R. Patil, is a web-based platform offering advanced flood predictions up to the village level.
• Developed jointly by C-DAC, CWC, and NRSC, the system integrates hydrodynamic modelling, HPC simulations, and satellite data under the National Supercomputing Mission (NSM).
• It currently covers three major river basins—Mahanadi, Godavari, and Tapi—with plans for wider rollout.
• The initiative enhances disaster management capabilities, enabling timely evacuations and reducing risks from flood disasters through scientific forecasting and inter-agency coordination.

NIPCCD Renamed to Honour Savitribai Phule, Focuses on Regional Capacity Building

• The Ministry of Women and Child Development has officially renamed NIPCCD as the Savitribai Phule National Institute of Women and Child Development, paying tribute to the legendary reformer.
• Along with this, a new Regional Centre in Ranchi will be launched on July 4, 2025, aimed at strengthening training and outreach for key schemes like Mission Shakti, Mission Vatsalya, and Poshan 2.0 in Jharkhand, Bihar, Odisha, and West Bengal.
• The initiative targets over 7 lakh frontline workers, enabling better accessibility, decentralized capacity building, and localized solutions in the eastern region.
• This move underscores the government’s inclusive development strategy and commitment to grassroots empowerment.

Coal Ministry to Launch RECLAIM Framework for Sustainable Mine Closure

• The Ministry of Coal will launch the RECLAIM Framework to promote inclusive and sustainable mine closures in India.
• Designed with field-tested tools and methodologies, the framework emphasizes community engagement, gender equity, and representation of vulnerable groups.
• It aligns with Panchayati Raj Institutions to ensure local relevance and foster long-term livelihood security and repurposing of mining lands.
• With this, India takes a progressive step toward just transitions in the mining sector.

Indore Launches India’s First QR-Based Digital House Address System

• The Digital House Address Project by the Indore Municipal Corporation marks a major step in India’s smart city evolution.
• By using QR codes linked to GPS and integrating with the Digipin system, Indore has created a modern, efficient, and scalable address solution.
• This digital transformation ensures real-time service access, enhances emergency responses, and lays the groundwork for data-driven urban planning.
• With low-cost digital plates and user-friendly systems, this initiative holds the potential to be replicated across Indian cities, supporting the vision of Digital India and urban inclusivity.

State News

Virudhunagar to Become Global Textile Hub Under PM MITRA Scheme

• The PM MITRA Textile Park in Virudhunagar, Tamil Nadu, is a landmark initiative under India’s textile growth strategy.
• With a ₹1,900 crore investment from the Central Government, this 1,052-acre facility will offer advanced infrastructure, including ZLD effluent treatment, worker dormitories, and industrial workspaces.
• Expected to attract ₹10,000 crore in private investments and generate over one lakh jobs by 2026, the park will significantly enhance export-oriented and sustainable textile manufacturing in the region.
• The move reflects India’s ambition to lead in technical textiles and aligns with the vision of an Atmanirbhar Bharat.

Centre Mulls ₹100-Crore Integrated Aqua Park in Jammu & Kashmir

• The Government of India is poised to transform Jammu and Kashmir’s fisheries and livestock sectors with a proposed ₹100-crore Integrated Aqua Park under PMMSY Phase-II.
• Union Minister Rajiv Ranjan Singh also inaugurated a 50,000-litre UHT Milk Plant in Jammu, underscoring the focus on rural income generation, cold-water aquaculture, and dairy productivity.
• The region has seen 800% growth in trout production and substantial increases in milk output, aided by strategic investments and seed imports from Denmark.
• Designation of Anantnag as a Fisheries Cluster and increased funding under FIDF and PMMSY highlight the government’s aim to drive inclusive, sustainable, and self-reliant growth.

Bengaluru City University to be Renamed After Former PM Manmohan Singh

• The Karnataka Cabinet has decided to rename Bengaluru City University after former Prime Minister Dr. Manmohan Singh, acknowledging his significant role in the city’s infrastructure development.
• From laying foundations for the Bengaluru Metro and Elevated Highway to inaugurating the Kempegowda International Airport, Singh’s contributions to the city are deeply embedded in its progress.
• Additionally, the Cabinet sanctioned ₹123.5 crore for Phase-2 development of the University’s North Campus.
• This renaming serves as both a symbolic gesture and a reminder of visionary governance.

Banking News

RBI Bans Prepayment Penalty on Floating Rate Loans for MSEs from 2026

• The Reserve Bank of India has announced that, effective January 1, 2026, prepayment penalties will no longer be applicable on floating rate loans availed by micro and small enterprises (MSEs).
• This move aims to support financial inclusion, credit affordability, and lender accountability by eliminating unjust clauses and promoting borrower freedom.
• It builds on RBI’s continuing efforts to streamline loan frameworks and promote healthy competition in India’s credit landscape.

CBDT Raises Cost Inflation Index to 376 for FY26

• The Central Board of Direct Taxes (CBDT) has increased the Cost Inflation Index (CII) to 376 for FY2025–26, allowing for higher tax relief on long-term capital gains (LTCG).
• While the Finance Act 2024 reduced the availability of indexation benefits, a grandfathering clause allows continued relief for taxpayers selling assets bought before July 23, 2024.
• Eligible individuals and Hindu Undivided Families (HUFs) can choose between a 20% indexed tax or a 12.5% flat tax.
• This move aligns with the government’s strategy to simplify tax laws while offering inflation protection on pre-existing assets.

RBI Mandates Banks to Adopt DoT’s Financial Fraud Risk Indicator for Cybersecurity

• The Reserve Bank of India (RBI) has taken a critical step in advancing digital security by mandating all financial institutions to adopt the Financial Fraud Risk Indicator (FRI) developed by the Department of Telecommunications (DoT).
• This AI-supported system allows real-time detection of high-risk mobile numbers linked to cybercrime and financial fraud, drawing data from platforms like the NCRP and Chakshu.
• With major institutions like PhonePe, HDFC Bank, and Paytm already on board, the FRI is expected to become a national benchmark for digital fraud prevention.
• This move aligns closely with the Digital India vision, ensuring that India’s booming UPI-driven financial system is both secure and resilient.

Slice Launches India’s First UPI-Powered Bank Branch in Bengaluru

• Fintech startup slice has made headlines by launching India’s first UPI-powered bank branch in Bengaluru, marking its transition into full-fledged banking.
• The new slice UPI credit card offers zero joining fees, up to 3% cashback, and easy EMI conversion.
• With an integrated UPI ATM, slice provides both cash withdrawal and deposit services while focusing on expanding credit access and boosting financial inclusion.
• Backed by its own banking infrastructure, slice is creating a new benchmark in digital-first banking and aims to transform how over 300 million Indians experience credit and banking services.

Business News

Jio Becomes World’s Largest Fixed Wireless Access Provider

• Reliance Jio has achieved a significant milestone by becoming the world’s largest Fixed Wireless Access (FWA) provider, surpassing T-Mobile.
• Through its affordable Jio AirFiber broadband, launched in September 2023, and rapid 5G expansion, Jio now serves over 20 million users.
• This has revolutionized internet accessibility across India, especially in rural and underserved regions, promoting digital inclusion, and laying a blueprint for global telecoms seeking to expand in developing markets.

Economy News

State-wise GST Collection in June 2025: Maharashtra Leads the Revenue Chart

• India’s state-wise GST collection for June 2025 saw Maharashtra leading with ₹30,553 crore, followed by Karnataka (₹13,409 crore) and Gujarat (₹11,404 crore), reflecting strong industrial, commercial, and service sector activities.
• Southern states like Tamil Nadu, Telangana, and Andhra Pradesh showed robust contributions, while Delhi, West Bengal, and Odisha drove revenues in the east and north.
• Smaller and northeastern states had modest collections, underlining their developing economic bases but highlighting strategic potential in logistics, tourism, and regional consumption.

Awards News

PM Modi Honoured in Ghana with ‘Order of the Star’

• In a historic diplomatic development, Prime Minister Narendra Modi was conferred the “Officer of the Order of the Star of Ghana” by President John Mahama during his state visit to Ghana, the first in over 30 years by an Indian PM.
• The visit resulted in major announcements, including a Skill Development Centre, expansion of scholarships, support for Ghana’s agriculture and healthcare, and plans to introduce India’s UPI digital payments platform.
• Both nations aim to double trade within five years, reaffirming their strategic partnership and commitment to South-South cooperation.

Schemes News

ESIC Launches SPREE 2025 to Expand Social Security Coverage

• The Employees’ State Insurance Corporation (ESIC) has unveiled SPREE 2025, a time-bound scheme running from July 1 to December 31, 2025, to promote registration of employers and employees under the ESI Act.
• The initiative removes the fear of retrospective penalties and allows for digital self-registration without prior inspections or contribution demands.
• Targeting contractual and informal workers, the scheme aims to boost universal social protection, aligning with the government’s labour welfare vision.

Summits & Conferences News

India Hosts First National Conference of Urban Local Body Chairpersons in Gurugram

• The first National Conference of Urban Local Bodies Chairpersons was inaugurated on July 3, 2025, by Lok Sabha Speaker Om Birla in Manesar, Gurugram.
• The two-day event serves as a platform to discuss the critical role of ULBs in democratic governance, inclusive growth, women empowerment, and India’s Vision 2047.
• With a focus on innovation, collaboration, and strengthening grassroots institutions, the event is poised to enhance urban governance and participatory democracy.

Science & Technology News

Indian Scientists Revolutionize Supercapacitor Tech with Lanthanum Doping

• Indian researchers have engineered a next-generation energy storage material using lanthanum-doped silver niobate nanoparticles, showing superior performance in supercapacitor devices.
• The material demonstrated 118% energy retention and 100% coulombic efficiency, making it a promising solution for clean energy storage.
• This eco-friendly innovation, led by Dr. Kavita Pandey’s team at CeNS, Bengaluru, paves the way for future high-density, fast-charging supercapacitors in portable electronics and renewable energy systems.

Current Affairs Today | 3 July Current Affairs 2025 | Daily Current Affairs By Ashish Gautam