Daily Current Affairs July 02

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs July 02. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

Current affairs are the most dynamic yet scoring among all sections and need to be prepared from the right source. Here, we cafunsta team, providing Daily GK Updates, Current Affairs Questions, and Monthly current affairs pdf.

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July 02 | Daily Current Affairs 2026

Banking and Finance – Daily Current Affairs July 02

1. NPCI partnered with HSBC India and JP Morgan Payments to enable real-time FX settlement for which payment system?
A) NEFT
B) RTGS
C) UPI
D) IMPS
E) SWIFT
Answer: C) UPI.

Event and Location:

• Event: NPCI partnered with HSBC India and JP Morgan Payments to enable real-time foreign exchange settlement for international UPI payments.
• Location: India and international payment corridors.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: The partnership introduces real-time foreign exchange conversion and settlement for cross-border Unified Payments Interface transactions.
• Objectives: The initiative aims to make international digital payments faster, more transparent, efficient, and less dependent on delayed settlement processes.

Important Terms Explained:

• National Payments Corporation of India: It is India’s umbrella organisation for operating retail payment and settlement systems, including Unified Payments Interface.
• Unified Payments Interface: It is a real-time digital payment system that enables instant fund transfers through interoperable payment platforms.
• Foreign exchange settlement: It is the process of converting one country’s currency into another and settling the transaction during international payments.
• HSBC India: It is the Indian banking arm of HSBC and is one of the partners supporting real-time FX settlement for international UPI payments.
• JP Morgan Payments: It is the payments division of JP Morgan that supports global payment processing, settlement, and financial transaction solutions.

Tabular Summary:

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Business and Economy – Daily Current Affairs July 02

2. Which public sector enterprise was granted Miniratna Category-I status by the Ministry of Steel on July 1, 2026?
A) SAIL
B) NMDC
C) MECON Limited
D) BHEL
E) RITES
Answer: C) MECON Limited.

Event and Location:

• Event: MECON Limited was granted Miniratna Category-I status by the Ministry of Steel.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Ministry of Steel granted Miniratna Category-I status to MECON Limited based on its consistent profitability, positive net worth, and financial stability.
• Objectives: The recognition aims to provide greater operational and financial autonomy to MECON for faster decision-making, technology upgradation, business expansion, and improved competitiveness.

Important Terms Explained:

• MECON Limited: It is a Schedule ‘A’ Central Public Sector Enterprise under the Ministry of Steel, engaged in engineering, consultancy, project management, and contracting services.
• Miniratna Category-I status: It is a classification granted by the Department of Public Enterprises to financially strong Central Public Sector Enterprises for greater operational freedom.
• Central Public Sector Enterprise: It refers to a government-owned company in which the Central Government has ownership and administrative control.
• Department of Public Enterprises: It is the authority that lays down policy guidelines and eligibility norms for granting Miniratna status to eligible public sector enterprises.

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Appointments – Daily Current Affairs July 02

3. Who assumed charge as the Vice Chief of the Air Staff on July 1, 2026?
A) Air Marshal Nagesh Kapoor
B) Air Marshal Tejinder Singh
C) Air Marshal Ashutosh Dixit
D) General Dhiraj Seth
E) Air Marshal Vivek Ram Chaudhari
Answer: C) Air Marshal Ashutosh Dixit.

Event and Location:

• Event: Air Marshal Ashutosh Dixit assumed charge as Vice Chief of the Air Staff, while Air Marshal Tejinder Singh took over as CISC.
• Location: Vayu Bhawan, New Delhi, India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: Air Marshal Ashutosh Dixit assumed office as Vice Chief of the Air Staff after succeeding Air Marshal Nagesh Kapoor, who retired on June 30, 2026.
• Objectives: The appointment aims to support the Chief of the Air Staff in operational preparedness, modernisation, administration, and strategic planning of the Indian Air Force.

Important Terms Explained:

• Vice Chief of the Air Staff: It is a senior leadership position in the Indian Air Force responsible for assisting the Chief of the Air Staff in key operational, administrative, and strategic functions.
• Chief of Integrated Defence Staff to the Chairman Chiefs of Staff Committee: It is a senior tri-services post that supports integrated defence planning and coordination among the Army, Navy, and Air Force.
• Vayu Bhawan: It is the headquarters of the Indian Air Force in New Delhi.
• Guard of Honour: It is a ceremonial military tribute given during important occasions such as appointments, retirements, or formal changes of command.

Tabular Summary:

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4. Who assumed command as the General Officer Commanding-in-Chief of the Indian Army’s Southern Command in July 2026?
A) Lt Gen Sandeep Jain
B) Lt Gen Rajesh Pushkar
C) General Dhiraj Seth
D) Lt Gen Upendra Dwivedi
E) Air Marshal Ashutosh Dixit
Answer: B) Lt Gen Rajesh Pushkar.

Event and Location:

• Event: Lt Gen Rajesh Pushkar assumed command as the General Officer Commanding-in-Chief of the Indian Army’s Southern Command.
• Location: Southern Command Headquarters, Pune, Maharashtra, India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: Lt Gen Rajesh Pushkar took charge of Southern Command after succeeding Lt Gen Sandeep Jain, who was appointed as Vice Chief of the Army Staff.
• Objectives: The appointment aims to strengthen operational preparedness, command leadership, logistics, training, and strategic military coordination across Southern Command’s area of responsibility.

Important Terms Explained:

• General Officer Commanding-in-Chief: It is a senior Army commander responsible for leading an operational command and overseeing its military preparedness and administration.
• Southern Command: It is one of the Indian Army’s oldest operational commands, headquartered in Pune and responsible for southern and parts of central India.
• Armoured Corps: It is a combat arm of the Indian Army that operates tanks and armoured fighting vehicles in mechanised warfare.
• Ati Vishisht Seva Medal: It is a military award given for distinguished service of an exceptional order.
• Vishisht Seva Medal: It is a military award given for distinguished service of a high order.

Tabular Summary:

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5. Who assumed charge as the Air Officer Commanding-in-Chief of Southern Air Command on July 1, 2026?
A) Air Marshal Manish Khanna
B) Air Marshal Jasvir Singh Mann
C) Air Marshal Ashutosh Dixit
D) Air Marshal Tejinder Singh
E) Air Marshal Nagesh Kapoor
Answer: B) Air Marshal Jasvir Singh Mann.

Event and Location:

• Event: Air Marshal Jasvir Singh Mann assumed charge as the Air Officer Commanding-in-Chief of Southern Air Command.
• Location: Southern Air Command Headquarters, Thiruvananthapuram, Kerala, India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: Air Marshal Jasvir Singh Mann took charge of Southern Air Command after succeeding Air Marshal Manish Khanna, who retired on June 30, 2026.
• Objectives: The appointment aims to strengthen the operational command responsible for safeguarding India’s southern airspace and maritime interests.

Important Terms Explained:

• Air Officer Commanding-in-Chief: It is a senior Indian Air Force appointment responsible for leading an operational air command and overseeing its readiness, administration, and strategic functions.
• Southern Air Command: It is a major operational command of the Indian Air Force responsible for air operations in southern India and related maritime security areas.
• Indian Air Force: It is the air arm of the Indian Armed Forces responsible for securing Indian airspace and conducting aerial warfare operations.
• Ati Vishisht Seva Medal: It is a military honour awarded for distinguished service of an exceptional order.
• Vayu Sena Medal: It is an Indian Air Force gallantry or distinguished service award given for exceptional devotion to duty or acts of courage.

Tabular Summary:

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6. The Government of India extended the tenure of which Foreign Secretary by one year on July 1, 2026?
A) Vinay Mohan Kwatra
B) Vikram Misri
C) Harsh Vardhan Shringla
D) S Jaishankar
E) Taranjit Singh Sandhu
Answer: B) Vikram Misri.

Event and Location:

• Event: The Government of India extended Foreign Secretary Vikram Misri’s tenure by one year.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The government order allows Vikram Misri to continue as India’s Foreign Secretary for another one year.
• Objectives: The extension aims to ensure continuity in India’s diplomatic leadership and foreign policy administration amid a dynamic global strategic environment.

Important Terms Explained:

• Foreign Secretary: It is the senior-most career diplomat in the Ministry of External Affairs and serves as the administrative head of India’s foreign policy machinery.
• Indian Foreign Service: It is India’s diplomatic civil service responsible for managing foreign relations, representing India abroad, and handling international negotiations.
• Ministry of External Affairs: It is the Government of India ministry responsible for foreign policy, diplomatic relations, consular services, and international cooperation.
• Deputy National Security Adviser: It is a senior strategic position that supports the National Security Adviser in national security planning and strategic affairs.

Tabular Summary:

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7. Who was appointed as the new Executive Director of the Reserve Bank of India effective July 1, 2026?
A) Ravi Shankar
B) Ravi Agrawal
C) Sanjay Malhotra
D) T Rabi Sankar
E) M Rajeshwar Rao
Answer: A) Ravi Shankar.

Event and Location:

• Event: Ravi Shankar was appointed as the new Executive Director of the Reserve Bank of India.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The Reserve Bank of India appointed Ravi Shankar as Executive Director after his service as Adviser-In-Charge of the Department of Statistics and Information Management.
• Objectives: The appointment aims to strengthen RBI’s leadership in statistical analysis, economic data management, central banking operations, and data-driven policymaking.

Important Terms Explained:

• Reserve Bank of India: It is India’s central bank responsible for monetary policy, banking regulation, currency management, financial stability, and payment systems.
• Executive Director: It is a senior leadership position in the RBI responsible for overseeing key departments, policy functions, and administrative responsibilities.
• Department of Statistics and Information Management: It is an RBI department that manages statistical data, economic information, surveys, and analytical inputs for policymaking.
• Government securities market: It refers to the market where government bonds and securities are issued, traded, and managed for public borrowing and financial operations.

Tabular Summary:

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Awards – Daily Current Affairs July 02

8. Who was honoured with the 2026 USISPF Leadership Award at the IX Annual Leadership Summit in Washington, D.C.?
A) Mukesh Ambani
B) Sunil Bharti Mittal
C) Natarajan Chandrasekaran
D) Gautam Adani
E) Anand Mahindra
Answer: B) Sunil Bharti Mittal.

Event and Location:

• Event: Sunil Bharti Mittal was honoured with the 2026 USISPF Leadership Award for strengthening India-US economic ties.
• Location: Washington, D.C., United States.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: The US-India Strategic Partnership Forum presented the award during its IX Annual Leadership Summit to recognise leadership in economic, commercial, and strategic cooperation.
• Objectives: The recognition aims to honour contributions to India-US business collaboration, telecom transformation, digital connectivity, innovation, and investor confidence.

Important Terms Explained:

• USISPF Leadership Award: It is an award presented by the US-India Strategic Partnership Forum to recognise leaders who strengthen India-US economic and strategic relations.
• US-India Strategic Partnership Forum: It is a non-profit organisation that promotes strategic, economic, commercial, and policy cooperation between India and the United States.
• Bharti Enterprises: It is a leading Indian business group founded by Sunil Bharti Mittal with interests in telecom, digital services, infrastructure, space communications, financial services, and real estate.
• India-US bilateral trade agreement: It refers to the proposed trade deal aimed at strengthening trade, investment, and economic cooperation between India and the United States.

Tabular Summary:

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Schemes – Daily Current Affairs July 02

9. The UP Vishwakarma Shram Samman Yojana 2026 is implemented by which state government?
A) Government of Bihar
B) Government of Rajasthan
C) Government of Uttar Pradesh
D) Government of Madhya Pradesh
E) Government of Gujarat
Answer: C) Government of Uttar Pradesh.

Event and Location:

• Event: The UP Vishwakarma Shram Samman Yojana 2026 provides training, toolkit assistance, and concessional loans to traditional artisans.
• Location: Uttar Pradesh, India.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: The scheme supports traditional artisans and craftsmen through free residential skill training, modern toolkits, and access to affordable credit.
• Objectives: The scheme aims to preserve traditional occupations, improve livelihoods, promote self-employment, increase productivity, and strengthen artisan-led enterprises.

Important Terms Explained:

• UP Vishwakarma Shram Samman Yojana: It is a welfare scheme of the Government of Uttar Pradesh launched in 2018 to support traditional artisans through training, toolkit assistance, and concessional loans.
• Toolkit assistance: It refers to financial support of ₹10,000 provided to trained beneficiaries for purchasing tools and equipment related to their trade.
• Concessional loans: These are loans offered at favourable terms to eligible artisans for starting, expanding, or strengthening their businesses.
• UPKVIB: It stands for Uttar Pradesh Khadi and Village Industries Board, which facilitates loans for eligible artisans under the scheme.
• PM Vishwakarma Scheme: It is a central government scheme that supports traditional artisans and craftspeople, while the Uttar Pradesh scheme addresses state-specific artisan needs.

Tabular Summary:

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10. The revamped RBI Integrated Ombudsman Scheme came into effect from which date?
A) June 1, 2026
B) July 1, 2026
C) July 15, 2026
D) August 1, 2026
E) September 1, 2026
Answer: B) July 1, 2026.

Event and Location:

• Event: The Reserve Bank of India implemented its revamped Integrated Ombudsman Scheme for customer grievance redressal.
• Location: India.
• Date: July 1, 2026.

Mandates and Objectives:

• Mandates: The revised scheme replaces the Integrated Ombudsman Scheme, 2021, and provides a unified mechanism for complaints against RBI-regulated financial entities.
• Objectives: The scheme aims to offer free, faster, transparent, and standardised grievance redressal for financial consumers across India.

Important Terms Explained:

• Integrated Ombudsman Scheme: It is RBI’s unified grievance redressal framework for resolving customer complaints against regulated financial institutions.
• One Nation, One Ombudsman: It is the principle under which complaints are processed uniformly irrespective of the customer’s location or the regulated entity’s location.
• Non-Banking Financial Companies: These are financial institutions that provide banking-like services without holding a full banking licence.
• Prepaid Payment Instrument: It refers to payment tools such as wallets or cards that allow users to make payments using pre-loaded value.
• Credit Information Companies: These are entities that collect and maintain credit-related information of individuals and businesses.

Tabular Summary:

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National Affairs – Daily Current Affairs July 02

11. The Government of India asked which company to pause the rollout of the WhatsApp username feature in India?
A) Google
B) Meta
C) Microsoft
D) Apple
E) Telegram
Answer: B) Meta.

Event and Location:

• Event: The Government of India asked Meta to temporarily pause the rollout of the WhatsApp username feature.
• Location: India.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: The Centre issued a notice directing Meta to pause the feature rollout and submit a detailed explanation within three days.
• Objectives: The move aims to assess the feature’s impact on user privacy, security, regulatory compliance, misuse prevention, and digital safety.

Important Terms Explained:

• WhatsApp username feature: It is a proposed feature that would allow users to connect through unique usernames instead of mandatorily sharing mobile phone numbers.
• Meta: It is the parent company of WhatsApp and has been asked by the Government of India to explain the feature before its rollout.
• User privacy: It refers to the protection of personal information, including phone numbers and identity details, from unnecessary exposure or misuse.
• Regulatory compliance: It means following applicable laws, rules, and digital governance requirements set by the authorities.
• Impersonation: It refers to falsely pretending to be another person or entity, which can lead to fraud, scams, or misuse of digital platforms.

Tabular Summary:

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12. Swar Prerna Veethika was launched by Akashvani to celebrate which aspect of India’s heritage?
A) Literary heritage
B) Musical heritage
C) Theatre heritage
D) Folk art heritage
E) Cinema heritage
Answer: B) Musical heritage.

Event and Location:

• Event: Akashvani launched Swar Prerna Veethika as a permanent photo gallery dedicated to India’s legendary musicians.
• Location: Akashvani Rang Bhavan Auditorium, New Delhi, India.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: The initiative was launched as part of Akashvani’s 90-year public service broadcasting celebrations and ahead of the centenary of radio broadcasting in India in 2027.
• Objectives: The gallery aims to honour legendary musicians, preserve India’s musical heritage, inspire future generations, and highlight Akashvani’s contribution to Indian music.

Important Terms Explained:

• Swar Prerna Veethika: It is a permanent photo gallery established by Akashvani to honour eminent musicians associated with India’s musical traditions and public broadcasting.
• Akashvani: It is India’s public service radio broadcaster that has played a major role in promoting classical, folk, devotional, and regional music.
• Public service broadcasting: It refers to broadcasting meant to inform, educate, entertain, and preserve cultural heritage for the wider public interest.
• Bharat Ratna: It is India’s highest civilian award, received by several music legends featured in the gallery, including M.S. Subbulakshmi, Ravi Shankar, Lata Mangeshkar, Bismillah Khan, Bhimsen Joshi, and Bhupen Hazarika.
• Raagam: It is Akashvani’s 24×7 digital channel dedicated to Hindustani classical music.

Tabular Summary:

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13. GAGAN was jointly developed by ISRO and AAI to improve the accuracy of which navigation system?
A) GPS
B) NavIC
C) GLONASS
D) Galileo
E) BeiDou
Answer: A) GPS.

Event and Location:

• Event: India’s GAGAN system was highlighted as an indigenous satellite-based GPS augmentation system for safer and more precise aircraft navigation.
• Location: India.
• Date: July 2, 2026.

Mandates and Objectives:

• Mandates: GAGAN enhances standard GPS signals by providing real-time correction and integrity information through ground stations and geostationary satellites.
• Objectives: The system aims to improve GPS accuracy, enhance aviation safety, enable satellite-based precision landing, and strengthen India’s indigenous navigation capabilities.

Important Terms Explained:

• GAGAN: It stands for GPS Aided GEO Augmented Navigation, India’s indigenous Satellite-Based Augmentation System developed by ISRO and AAI.
• Satellite-Based Augmentation System: It is a navigation support system that improves the accuracy, reliability, and integrity of satellite navigation signals.
• ISRO: It is India’s national space agency and jointly developed GAGAN with the Airports Authority of India.
• AAI: It stands for Airports Authority of India, which jointly developed GAGAN to improve aviation navigation and safety.
• NavIC: It is India’s regional navigation satellite system that provides independent navigation, positioning, and timing services.

Tabular Summary:

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Over All Review

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