Today Headlines

🇮🇳 1. National Affairs

SEBI Bars Jane Street for Market Manipulation

SEBI has barred U.S.-based quant trading firm Jane Street and its Indian subsidiaries from India’s securities market. The regulator alleges they manipulated the Bank Nifty index using large-scale derivatives trading, earning about $4.3 billion between early 2023 and March 2025. It has frozen $567 million in their accounts. Jane Street contests the allegations and plans to appeal  .

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🌐 2. International Affairs

China Helps Pakistan in May Conflict, India Says

India's Army deputy chief, Lt‑Gen Rahul Singh, revealed that during the May conflict, China provided Pakistan with “live inputs” on Indian military positions. This unprecedented claim marks deeper regional involvement, with Turkey also supplying drones and training. China and Pakistan deny the charges  .

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📈 3. Economy & Business

RBI-Hong FX Reserves Hit Nine-Month High

India’s foreign exchange reserves rose to $702.8 billion, a nine-month peak, bolstering the rupee amid global uncertainties. Analysts say the strengthened buffer and strategic forward book posture will support market stability  .

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🌱 4. Environment & Ecology

IMD Issues 15-Day Heavy Rain Alert

The IMD has warned of heavy to very heavy rainfall from July 4–18 across Delhi, Mumbai, Dehradun, Himachal Pradesh, Uttarakhand, and parts of Central and Northeast India. The alert includes risks of floods, landslides, thunderstorms, and coastal winds up to 65 km/h  .

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🔬 5. Science & Technology

New Deep-Sea Eel Discovered—Facciolella smithi

Indian researchers have identified a new deep-sea eel species, Facciolella smithi, belonging to the Nettastomatidae family, discovered in the Arabian Sea. This species dwells on the ocean floor and burrows into sediments  .

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🛡 6. Defence & Security

₹230 Million Drone Incentive Post-Pak Conflict

Following the May military skirmishes, India plans a ₹230 million incentive scheme for indigenous drone manufacturers to enhance domestic surveillance and defence capabilities  .

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🏅 7. Sports

England Trail India by 180 in Edgbaston Test

On Day 3 of the second Test at Edgbaston, England were bowled out for 407, falling 180 runs behind India. Mohammed Siraj led India’s bowling attack with six wickets, supported by Akash Deep’s four  .

🌀 8. Miscellaneous

India Pushes WTO Retaliation on U.S. Tariffs

India has notified the WTO of plans to impose retaliatory duties totaling around $725 million on U.S. auto and auto-part imports. Talks with Washington continue ahead of the July 9 deadline. India remains firm on protecting its agriculture and dairy sectors  .

Rupee Weakens on Strong U.S. Jobs Data

Robust U.S. employment figures lifted Treasury yields and the dollar, pulling the rupee down to 85.5, though it later recovered near 85.33. Forward premiums also eased amid uncertainty around July 9 trade-tariff negotiations  .

RBI’s Reverse Repo Operation & Pre-Payment Ban

The RBI has announced a ₹1 trillion, seven-day reverse repo starting July 4 to curb liquidity overflow. Separately, the central bank has banned pre-payment charges on floating-rate loans for individuals and MSMEs from January 2026  .

Copper Mining Invitations to Foreign Firms

India is inviting foreign investment in copper mining, with projects anticipated to grow demand from 1.2 Mt in FY25 to 3–3.3 Mt by 2030 and 8.9–9.8 Mt by 2047. The focus includes partnerships with global players like Codelco and BHP  .