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Daily Current Affairs 16 June 2026

14 News

National

PM Narendra Modi has visited the Union Territory of Dadra and Nagar Haveli and Daman and Diu. He inaugurated and laid the foundation stone for 56 development projects worth ₹2,970 crore, aiming to improve healthcare, air connectivity, tourism, and public infrastructure in the region.

Key projects include the new terminal building of NAMO Airport and the NAMO Hospital, developed at a combined cost of ₹1,340 crore.

Economy

The Ministry of Commerce and Industry has released the Wholesale Price Index (WPI)-based inflation data, with 2022-23 as the revised base year.

Wholesale price inflation in India rose to 9.68% in May 2026, from 8.26% in April 2026. Sector-wise, fuel and power inflation stood at 30.33%, with crude petroleum inflation at 61.51%. Food inflation was recorded at 3.60%, while manufactured products saw an inflation rate of 7.48%. Retail inflation was reported at 3.93%.

Banking

The RBI has issued the “Third Amendment Directions, 2026” to govern bank lending to Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), while strengthening risk and exposure norms.

Banks are permitted to extend credit only to those REITs and InvITs that are registered with the SEBI and listed on recognized Stock Exchanges. Lending to REITs is restricted to listed trusts where at least 80% of assets consist of cash-generating properties that have been operational for more than 1 year.

Banks may lend to listed InvITs only if at least 80% of their assets are invested in completed and revenue-generating infrastructure projects that have demonstrated positive cash flows for a period exceeding 1 year.

Agreements

Reports

According to the “SIPRI Yearbook 2026: Armaments, Disarmament and International Security” released by the Stockholm International Peace Research Institute (SIPRI), global military expenditure surged to $2.9 trillion in 2025. The USA remained the world’s largest military spender with an expenditure of $954 billion, followed by China and Russia.

India ranked as the world’s 5th largest military spender in 2025, with a defence expenditure of $92.1 billion, representing an 8.9% increase compared to 2024. Furthermore, the nuclear arsenal of India increased to 190 warheads as of January 2026.

International

Delcy Eloina Gomez, the Acting President of Venezuela, has visited India to strengthen bilateral energy cooperation. She held bilateral talks with PM Narendra Modi at Hyderabad House in New Delhi.

She also met Union Minister S Jaishankar and paid tributes to Mahatma Gandhi at Rajghat. She visited the Jamnagar oil refinery in Gujarat, owned by Reliance Industries Ltd (RIL), which is the world’s largest single-point oil refining facility.

Defence

Science

Awards

Gautam Dey, an Indian-origin scientist affiliated with the European Molecular Biology Laboratory (EMBL) in Germany, has been awarded the European Molecular Biology Organization (EMBO) Gold Medal 2026.

He received the recognition for his research on the evolutionary origins of nuclear organization and cell division. He shares the award with Omaya Dudin from the University of Geneva, Switzerland. The awardees receive a medal and a bursary of €10,000.

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