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Daily Current Affairs – 18 June, 2026

    Demands to Repeal VB-G RAM G

    Context

  • Demanding the repeal of the Viksit Bharat - Guarantee for Rozgar and Aajeevika Mission - Gramin (VB-G RAM G) Act, activists and workers' organisations announced protests from July 1.

    • About  VB-G RAM G

  • It replaced the Mahatma Gandhi National Rural Employment Guarantee Act, 2005 (MGNREGA).
  • This marks a shift from a “demand-driven framework” to a “supply-driven scheme”.
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    Iran-United States Peace Deal

    Context

  • According to some recent reports Iran and the United States have reached a preliminary framework for renewed diplomatic engagement after a prolonged period of tensions.

    • Background

  • The pact includes a 14-point Memorandum of Understanding (MoU) between the United States and Iran outlining a roadmap for de-escalation, restoration of commercial navigation through the Strait of Hormuz, and negotiations on sanctions relief etc.
  • It also includes an immediate halt to military action, including in Lebanon, and a 60-day negotiation period.
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    India Achieves a Record High in Annual Defence Production

    Context

  • India’s annual defence production has surged to an all-time high of ₹1.78 lakh crore in the Financial Year (FY) 2025-26.

    • About

  • It represents a 15.6% growth over the previous fiscal year and a 110% increase since FY 2020-21.
  • Defence Public Sector Undertakings and other PSUs accounted for approximately 76% of total production, while the private sector contributed 24%.
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    Reserve Bank of India (RBI) and Its Growing Fiscal Role

    Context

  • The Reserve Bank of India (RBI) approved a record surplus transfer of ₹2.87 lakh crore to the Union Government for FY26.

    • Economic Capital Framework

  • The Economic Capital Framework (ECF) guides how the RBI manages its capital reserves and determines the surplus it can transfer to the Government of India.
  • It was originally formulated based on recommendations from the Bimal Jalan Committee and adopted in RBI’s 578th meeting in 2019.
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    News In Short 18-06-2026

    Context

  • India and Japan have adopted the Rules of Implementation for the Joint Crediting Mechanism (JCM) under Article 6.2 of the Paris Agreement.

    • About

  • The mechanism provides a framework for collaboration on mitigation projects that reduce or remove greenhouse gas emissions while supporting sustainable development in India.
  • It will also contribute to the achievement of the Nationally Determined Contributions (NDCs) of both India and Japan under the Paris Agreement.
    • Read More
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