RBI cancels licence of Karnataka-based Shree Mahalaxmi Urban Co-operative Bank
The Reserve Bank of India cancelled the banking licence of Shree Mahalaxmi Urban Co‑operative Credit Bank Ltd., located in Gokak, Karnataka, in June 2026. The RBI said the bank faced inadequate capital, weak earning prospects and a weak financial position, which warranted withdrawal of its licence. It also asked the Registrar of Co‑operative Societies, Karnataka, to issue an order winding up the bank. Depositors are protected by the DICGC; about 97.9 percent of depositors are expected to receive their full insured deposits. This action reflects RBI’s ongoing supervisory stance over cooperative banks and its commitment to protecting customer money during wind‑ups.
RBI cancelled the banking licence of Shree Mahalaxmi Urban Co‑operative Credit Bank Ltd., Gokak (Karnataka) in June 2026.
Reason: inadequate capital, weak earnings prospects and a weak financial position.
Registrar of Co‑operative Societies, Karnataka, to issue winding‑up orders.
DICGC will insure about 97.9% of depositors' deposits.
India must‑know: Deposit Insurance and Credit Guarantee Corporation (DICGC) cover is ₹5 lakh per depositor.
Jun 14, 2026
PM Modi becomes India’s longest-serving continuously elected PM
Prime Minister Narendra Modi surpassed Jawaharlal Nehru’s record to become India’s longest-serving continuously elected Prime Minister on 10 June 2026, completing 4,399 consecutive days in office. He overtook Nehru’s previous tally of 4,398 days. Modi first took office in May 2014 and is serving his third consecutive term. The milestone was marked by a resolution from the Union Cabinet praising his leadership and length of tenure. Analysts note that the achievement reflects political stability and persistent popular support, even as critics debate policy direction. The government highlighted continuity in development programs, diplomatic engagements, and institutional reforms under Modi’s leadership. This milestone coincides with the start of his third term.
Modi reached 4,399 consecutive days on 10 June 2026, surpassing Nehru.
First took office in May 2014; currently in his third term.
Union Cabinet passed a resolution praising his leadership.
Milestone coincides with the start of his third term.
US nominates Jay Clayton as Director of National Intelligence
Jay Clayton was nominated by President Donald Trump on 14 June 2026 to serve as Director of National Intelligence. A former chairman of the U.S. Securities and Exchange Commission, Clayton has also led the U.S. Attorney's Office for the Southern District of New York. The nomination aims to provide a permanent leader for the nation’s intelligence community after months of uncertainty and concern over the position's vacancy. The move follows controversy over Bill Pulte’s proposed temporary role as acting director, which sparked debates about continuity and accountability. If confirmed, Clayton would oversee intelligence agencies and advise on national security policy and operations for the executive branch.
Nomination by President Donald Trump on 14 June 2026 to become DNI.
Clayton is a former SEC chairman and former SDNY U.S. attorney.
Nomination follows calls for permanent DNI after vacancy concerns.
If confirmed, he would oversee U.S. intelligence agencies and advise on security policy.
Amit Shah chairs demographic change meeting
Home Minister Amit Shah chaired a meeting on demographic change on 13 June 2026, as reported by Akashvani News. The gathering assessed population dynamics, youth employment, and the implications for governance and social services. Officials discussed measures to support skill development, housing, healthcare, and education while highlighting the role of census data in policy design. The meeting underscored the government's focus on inclusive growth amid a changing age structure and urban migration. Analysts noted that demographic strategies could influence electoral politics and social welfare programs in the months ahead. The discussions reflected ongoing efforts to align development plans with India’s evolving population profile.
Shah chaired the demographic change meeting on 13 June 2026.
Focus on population dynamics, youth employment, and governance.
Census data used to inform policy design; emphasis on skill development and housing.
Demographic strategies may influence politics and welfare programs.
Jun 13, 2026
11th NITI Aayog Governing Council meeting held in New Delhi; focus on inclusive development
The 11th Governing Council Meeting of NITI Aayog was held in June 2026 in New Delhi, with Prime Minister Narendra Modi chairing the session at the Rashtrapati Bhavan Cultural Centre. The theme was Inclusive Human Development for Viksit Bharat @2047. Chief Ministers and Lieutenant Governors participated to discuss development priorities, skilling, entrepreneurship, health, equity, and governance. The meeting underscored cooperative federalism and policy reforms to accelerate human development and inclusive growth. A key objective was to align states and Union Territories with the long-term vision of Viksit Bharat 2047, guiding policy direction for the coming years.
Event: 11th Governing Council Meeting of NITI Aayog in June 2026, New Delhi.
Chair: Prime Minister Narendra Modi; venue Rashtrapati Bhavan Cultural Centre.
Theme: Inclusive Human Development for Viksit Bharat @2047.
Participants: Chief Ministers and Lieutenant Governors; topics include skilling, health, entrepreneurship, governance.
Aim: align states/UTs with the Viksit Bharat 2047 vision.
Jun 09, 2026
Zojila Tunnel Reaches Final Breakthrough
India's Zojila Tunnel project achieved its final breakthrough in June 2026, marking a major milestone in the country's infrastructure development. Located at an altitude of over 11,500 feet, it will become the world's longest single-tube bi-directional road tunnel. The project will provide all-weather connectivity between the Kashmir Valley and Ladakh, reducing travel disruptions caused by heavy snowfall. Union Minister Nitin Gadkari attended the breakthrough ceremony. The tunnel is expected to strengthen tourism, trade, and strategic military movement in the region, while shortening travel times and improving emergency response in northern border areas.
Final breakthrough achieved in June 2026.
Altitude over 11,500 feet; planned as world's longest single-tube bi-directional tunnel.
Connects Kashmir Valley with Ladakh; all-weather connectivity.
Reduces travel disruption from heavy snowfall.
Nitin Gadkari attended the ceremony; boosts tourism and strategic movement.
Jun 07, 2026
Vipul appointed India’s Ambassador to Saudi Arabia
Senior diplomat Vipul has been appointed as India's ambassador to Saudi Arabia. A 1998-batch Indian Foreign Service officer, he brings extensive diplomatic experience to the role. Saudi Arabia remains one of India's most important strategic and economic partners in West Asia. The appointment comes at a time when regional geopolitical developments are gaining attention. Vipul is expected to advance bilateral cooperation in trade, energy, investment, and people-to-people exchanges. His posting is considered significant given Saudi Arabia’s growing regional influence. Vipul’s background in consular affairs, bilateral negotiations, and multilateral platforms is likely to shape governance and cultural ties with Riyadh.
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