July 3, 2026 Current Affairs

1. Which institution signed an MoU with SBI Life Insurance to establish the Bharat AI & Cyber Innovation Hub for Insurance?

IIT Bombay signed a Memorandum of Understanding (MoU) with SBI Life Insurance on July 1, 2026, to establish the Bharat AI & Cyber Innovation Hub for Insurance. The initiative aims to develop indigenous AI-based cybersecurity solutions for 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. It supports SBI Life's transformation into an AI-native insurance company while strengthening India's cybersecurity capabilities in financial services.

2. Which state approved the ₹2,000 crore Deep Sea Fishing Mission to boost marine fish production and exports?

Odisha approved the Deep Sea Fishing Mission with an estimated outlay of ₹2,295.45 crore for implementation during 2026–2036. The mission aims to increase annual marine fish production by 2 lakh metric tonnes, raise marine exports to ₹5,000 crore annually by 2036, and generate over 50,000 employment opportunities. A dedicated Blue Economy Hub (B-Hub) will function as the mission's central innovation and coordination centre. The Odisha Cabinet also approved the Mukhyamantri Poshan Yojana to improve nutrition among secondary school students.

3. Where was the 12th India-Malaysia Sub Committee Meeting on Military Cooperation (SCMC) held?

The 12th India-Malaysia Sub Committee Meeting on Military Cooperation (SCMC) was held in New Delhi on July 1, 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. The SCMC serves as the primary military consultation mechanism between India and Malaysia and strengthens bilateral defence cooperation.

4. Which bank celebrated its 119th Foundation Day by launching new digital banking initiatives?

Punjab & Sind Bank celebrated its 119th Foundation Day on June 30, 2026, by launching several digital banking initiatives in New Delhi. These included Central Bank Digital Currency (CBDC) services, a Digital Gold Loan, the Navjyoti HR Mobile App, and the PSB Bharat Connect Account for government employees. Established in 1908, Punjab & Sind Bank is headquartered in New Delhi and operates under the tagline "Where Service is a Way of Life."

5. Who assumed charge as the General Officer Commanding-in-Chief (GOC-in-C) of the Jaipur-based South Western Command?

Lieutenant General Mohit Malhotra assumed charge as the General Officer Commanding-in-Chief (GOC-in-C) of the Jaipur-based South Western Command. Commissioned into the 47 Armoured Regiment in 1989, he has served in the Siachen Glacier, commanded an Armoured Division and the Desert Corps, and held key appointments in operational planning and military intelligence. He is a recipient of the Ati Vishisht Seva Medal (AVSM) and the Sena Medal (SM).

6. Which state launched the Digi Rover Special Land Survey Campaign using GNSS technology?

Uttar Pradesh launched the Digi Rover Special Land Survey Campaign on July 1, 2026, from Saharanpur to modernise land demarcation across the state. The campaign uses Global Navigation Satellite System (GNSS)-based Digi Rover technology, replacing traditional land survey methods with more accurate digital techniques. The initiative aims to resolve over 79,000 pending land survey and demarcation cases by August 15, 2026, reducing land disputes and improving public services.

7. Which country signed an MoU with India on water resources management during Saudi Water Week?

Saudi Arabia signed a Memorandum of Understanding (MoU) with India during Saudi Water Week in Jeddah to strengthen cooperation in water resources management and sustainable development. The agreement focuses on sharing best practices in water planning, technical cooperation, institutional capacity building, sustainable irrigation, and efficient water management. The partnership reflects the growing strategic relationship between India and Saudi Arabia in addressing long-term water security.

8. Which state is home to the Borjuli Biodiversity Heritage Site?

The Borjuli site in Sonitpur district, Assam, was notified as a Biodiversity Heritage Site to conserve Oryza rufipogon, a wild rice species essential for developing climate-resilient and high-yielding rice varieties. The conservation project 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 long-term food security.

9. Who won the Austrian Formula One Grand Prix 2026?

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

10. Who assumed charge as the Air Officer Commanding-in-Chief (AOC-in-C) of the South Western Air Command?

Air Marshal P. V. Shivanand assumed charge as the Air Officer Commanding-in-Chief (AOC-in-C) of the South Western Air Command on July 1, 2026. He succeeded Air Marshal Tejinder Singh, who became the Chief of Integrated Defence Staff to the Chairman Chiefs of Staff Committee (CISC). Prior to this appointment, Air Marshal Shivanand served as the Senior Air Staff Officer at Headquarters Central Air Command and also represented India as the Defence and Air Attaché in Washington, D.C., with concurrent accreditation to Canada.

Exam-Oriented Quick Facts

• Bharat AI & Cyber Innovation Hub – IIT Bombay & SBI Life Insurance
• Deep Sea Fishing Mission – Odisha
• 12th India-Malaysia SCMC Venue – New Delhi
• 119th Foundation Day celebrated by – Punjab & Sind Bank
• GOC-in-C, South Western Command – Lt Gen Mohit Malhotra
• Digi Rover Special Land Survey Campaign – Uttar Pradesh
• Water Resources MoU Partner Country – Saudi Arabia
• Borjuli Biodiversity Heritage Site – Assam
• Austrian Formula One Grand Prix 2026 Winner – George Russell
• AOC-in-C, South Western Air Command – Air Marshal P. V. Shivanand