National Developments: Ayushman Bharat PM-JAY Expansion

West Bengal has officially joined the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) as the 36th state/union territory, completing the national rollout. The memorandum was signed between the National Health Authority (NHA) and the West Bengal Department of Health and Family Welfare.

Scheme Specifications for Aspirants

• Coverage: Up to ₹5 lakh per family annually for secondary and tertiary hospitalization.
• Cost-Sharing: 60:40 ratio between Centre and State (90:10 for North-Eastern and Himalayan states).
• Administration: Managed by the National Health Authority under the Ministry of Health and Family Welfare.

Economic and Financial Updates

Emergency Credit Line Guarantee Scheme (ECLGS 5.0)

The Union Cabinet has sanctioned ECLGS 5.0, providing collateral-free credit to MSMEs and non-MSMEs affected by the ongoing West Asia crisis. Loans sanctioned through 31 March 2027 are eligible. The scheme is administered by the National Credit Guarantee Trustee Company (NCGTC).

RBI Forex and G-Sec Policy

• Forex Services: The Reserve Bank of India is shifting from the existing Full-Fledged Money Changer (FFMC) framework to a 'Forex Correspondent' model to broaden retail reach.
• G-Sec Management: The RBI conducted switch operations to manage debt maturity profiles, allowing the exchange of near-maturity securities for longer-tenure bonds.
• NBFC Exemptions: NBFCs with assets below ₹1,000 crore, which do not utilize public funds or maintain customer interfaces, are now exempt from mandatory registration. Deregistration can be requested via the PRAVAAH portal by 31 December 2026.

International and Multilateral Relations

BRICS Agriculture Conference 2026

Indore, Madhya Pradesh, is hosting the five-day BRICS Agriculture conference under India's presidency. The sessions focus on food security, climate-resilient farming, and the integration of AI/ML and robotics in agricultural supply chains. BRICS member nations currently account for over 45% of the global population and 42% of agricultural production.

Global Sports: FIFA World Cup 2026

The 23rd edition of the FIFA World Cup commenced on 11 June 2026, hosted jointly by the USA, Canada, and Mexico. This tournament marks the first expansion to 48 teams.

Key Tournament Statistics

Frequently Asked Questions (FAQs)

What is the significance of the BRICS Agriculture Working Group meeting in Indore?

It is the primary multilateral forum for 2026 under India’s presidency, focusing on global food security and digital transformation in agriculture, involving representatives from 21 nations.

What are 'Switch Operations' conducted by the RBI?

These are Open Market Operations (OMO) where the government exchanges short-term securities for long-term bonds to reduce refinancing risks and stabilize the G-Sec market.