The Central government has nominated Sanjay Lohiya, Secretary, Department of Financial Services (DFS), Ministry of Finance, as a Director on the Central Board of Reserve Bank of India and State Bank of India with immediate effect and until further orders.

Lohiya, who is an IAS Officer of 1994 batch (Assam Meghalaya cadre), nomination follows the superannuation of Nagaraju Maddirala on May 31, 2026, as DFS Secretary. Lohiya took over as Secretary, Department of Financial Services, with effect from June 1, 2026.

India is expected to remain the world's fastest-growing major economy in financialyear 2026-27, although growth is projected to ease to 6.6 per cent from 7.7 per cent in the previous fiscal year amid higher energy prices and rising input costs, according to the World Bank's latest Global Economic Prospects report.

“Growth in India is projected to moderate to 6.6 per cent in fiscal year 2026/27 (April 2026 to March 2027), reflecting a slowdown in private demand growth owing to higher energy prices and other input costs,” the World Bank said in the report.

The multilateral lender expects India's growth to recover to 7.2 per cent in fiscal year 2027-28, supported by stronger domestic demand and an improvement in exports. Forecasts published in the report show India growing at 7.7 per cent in FY26, 6.6 per cent in FY27, and 7.2 per cent in FY28.

France has invited India to participate in all six sessions of next week’s G7 summit meeting, underscoring New Delhi’s status as a “top priority” partner and highlighting the special relationship between the two, according to French diplomatic sources.

Prime Minister Narendra Modi will travel to Evian, France, at the invitation of President Emmanuel Macron for the 52nd G7 Summit, which begins June 15.

This will be India’s 13th participation at the G7 summit and Prime Minister Modi’s seventh consecutive participation at the summit, the MEA noted.

India and Nepal have launched a peer-to-peer cross-border remittance mechanism to strengthen bilateral digital financial connectivity. The Ministry of Finance, in a statement said that the newly operationalized system establishes a direct link between India’s Unified Payments Interface (UPI) and Nepal’s National Payments Interface (NPI). This integration enables citizens of both nations to make seamless, real-time, and secure instant money transfers directly through mobile banking applications and digital wallets. The UPI-NPI linkage represents a major advancement in financial inclusion, fostering stronger economic and digital ties between both the countries. The Ministry said, this initiative aligns with regional goals for accessible, safe, and affordable cross-border payments, reinforcing long standing social and economic bonds. The digital payment corridor represents a major shift in how commerce operates between the two countries. The Finance Ministry noted that the initiative will enhance traveler convenience, will provide economic boost for local merchants and improve operational efficiency. It noted that local merchants would benefit from optimized cash management, reduced overhead costs associated with physical cash handling, and secure, real-time transaction settlements.

Thailand's Princess Bajrakitiyabha, who had been in a coma for more than three years, has died, the royal household has announced. She was 47.

She collapsed in December 2022 while exercising her dogs. Her doctors attributed it to a severely irregular heartbeat, caused by a mycoplasma infection in her heart.

With her death, the Thai royal family has lost its most visibly accomplished member, and someone who might have played a pivotal role in an as yet unclear succession.

She was the eldest of King Vajiralongkorn's seven children, born on 7 December 1978 to his first wife and cousin, Princess Soamsawali.

In a significant development, the Centre has signed a historic tripartite Memorandum of Understanding (MoU) with the Governments of Assam and Nagaland for the exploration and production of crude oil and natural gas in the two northeastern states.

The MoU was signed in the presence of Union Home Minister Amit Shah, Petroleum Minister Hardeep Singh Puri, Assam Chief Minister Himanta Biswa Sarma, and his Nagaland counterpart Neiphiu Rio.

Speaking on the occasion, HM Amit Shah said that the signing of the MoU is a historic moment and that it will enhance the prospects for oil and natural gas exploration in the country. He said the MoU has successfully removed a major hurdle in realising Prime Minister Narendra Modi’s vision of a prosperous and developed North East.

Rudra Gaurav Shresth, a senior Indian Foreign Officer (IFS) and career diplomat, was appointed India’s next Ambassador to the Republic of Turkiye by the Ministry of External Affairs (MEA) on June 11.

The MEA issued an official press release to announce Shresth’s new assignment. The 1999-batch IFS officer is currently serving as India’s Ambassador to the Islamic Republic of Iran.

Shresth assumed charge as the Indian Ambassador to the Islamic Republic of Iran in May 2023, notes the official website of the Indian Embassy in Tehran.

Prior to his assignment in Tehran, Shresth was on a three-year deputation to the Prime Minister's Office in New Delhi. And before that, from 2016 to 2019, he served as India's High Commissioner to Mozambique.

Union Commerce and Industry Minister Piyush Goyal has said that India must deepen its international engagement to achieve its goal of becoming a developed nation and a USD 30 trillion economy by 2047.

Addressing the closing session of the 5th Annual Meeting of the India Global Innovation Connect, the Minister said India’s economic growth is closely linked to strategic partnerships with developed countries. He noted that such collaborations complement Indian industry and are essential for sustaining long-term growth.

Goyal said India has a clear roadmap to become a developed country by 2047 and estimated that the country’s economy could reach around USD 30 trillion by then. He stressed that this target cannot be achieved without expanding global engagement.

The Kerala Cabinet decided that the Indira guarantee of free bus travel for women will initially be available on KSRTC's ordinary services, said CM V D Satheesan.

Cabinet decided to implement the scheme from June 15 onwards.

Satheesan, at a press conference after the Cabinet meeting chaired by him, said that the concession, called 'Priyadarshini', in its current format will cost the KSRTC over Rs 60 crore per month or around Rs 800 crore annually, which will be paid by the government.

He further said that the concession will be available for women of all ages and all walks of life, irrespective of their financial background.

The CM said that once the financial health of the Kerala State Road Transport Corporation (KSRTC) improves by increasing its revenue generation, providing the concession on other services will be considered.

The Union Cabinet in a meeting chaired by Prime Minister Narendra Modi on Wednesday approved the Phase 2A of the Ahmedabad Metro rail project, covering 6.032 km and five stations at a cost of Rs 2,169.04 crore.

The new corridor will connect Koteshwar Road to the Airport, with stations at Ashram Road, Koteshwar Prachin Mandir, Sabarmati River, Sardar Nagar and Airport. Announcing the decision, Information and Broadcasting Minister Ashwini Vaishnaw said the new corridor would also give a boost to the city’s infrastructure for the Commonwealth Games 2030. Once completed, the new corridor would increase Ahmedabad and Gandhinagar’s Metro network to 77.63km.