Stay updated with today’s most important current affairs in simple words, perfect for competitive exam preparation. Whether you’re preparing for banking, SSC, UPSC, or state exams – this article will help you revise all key updates from national, international, financial, and science sectors.
📅 Date: 4th July 2025
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One-Liner Summary Of Current Affairs 4th July
| Bengaluru City University renamed after Dr. Manmohan Singh. |
| Indore becomes 1st city with QR-based house address system. |
| RBI bans pre-payment charges on floating loans for MSEs. |
| India to build 3 new oil reserves in Odisha, Rajasthan, Gujarat. |
| SBI finds financial irregularities in Reliance Communications. |
| NIPCCD renamed to honor Savitribai Phule; new center in Ranchi. |
| PM Modi honored with Ghana’s top civilian award. |
| Quad starts minerals project to counter China’s monopoly. |
| India discovers 1,100+ new species of flora and fauna. |
Banking, Business & Finance
No Pre-Payment Charges for Floating Loans – RBI
RBI has announced that banks and NBFCs cannot charge any fee if individuals or small businesses prepay floating-rate loans from Jan 1, 2026. This step helps borrowers reduce loan stress without penalties.
- Applies to both term and demand loans.
- No fee even if repayment is partial or full.
- No lock-in period required.
RCom Misconduct Detected by SBI
State Bank of India uncovered misuse of funds by Reliance Communications (RCom). Funds were allegedly moved via mutual funds and intra-day transactions to avoid detection.
- Anil Ambani’s team has denied wrongdoing.
- Legal processes are ongoing.
New Cost Inflation Index Announced
CBDT has raised the Cost Inflation Index (CII) to 376 for FY26 (was 363). It helps reduce capital gains tax on property or asset sales.
- Useful for those selling long-held assets.
- Especially helpful under indexation benefit.
RBI Tells Banks to Use Fraud Risk System
RBI advised banks to use DoT’s new Fraud Risk Indicator (FRI), which flags mobile numbers likely linked to fraud.
- Helps banks block/alert suspicious transactions.
- Already used by banks like HDFC, PNB, Paytm.
🇦🇪 UAE’s Mashreq Bank Coming to GIFT City
Mashreq Bank from the UAE received approval to set up operations in Gujarat’s GIFT City. Services to include forex loans and trade finance.
National & State News
Bengaluru City University Renamed
Karnataka govt will rename Bengaluru City University after Dr. Manmohan Singh for his key role in shaping the city’s infrastructure, metro, and education.
Indore’s QR Address System – First in India
Indore launched QR-coded digital house plates to replace old addresses. These are linked with GPS for better civic services, emergency response, and deliveries.
India to Build 3 Oil Reserves
India will set up strategic oil storage in Odisha, Rajasthan, and Gujarat. It’s like a backup supply during global fuel shortages.
India Launches C-FLOOD – Flood Forecast System
A new online platform, C-FLOOD, will give two-day advance flood alerts. Built using supercomputers, it will help in saving lives during natural disasters.
Women & Child Development Institute Renamed
The central government renamed NIPCCD to “Savitribai Phule National Institute…” to honor India’s first woman teacher. A new centre was also opened in Ranchi.
Urban Local Body Conference Inaugurated
Lok Sabha Speaker Om Birla inaugurated a two-day event in Gurugram for municipal leaders. The goal: better urban planning and people-friendly governance.
RECLAIM Launched for Sustainable Mine Closure
Ministry of Coal launched RECLAIM – a detailed guide for closing old mines while reusing land and supporting local communities.
International News
Quad Nations Launch Critical Minerals Plan
India, USA, Australia & Japan started the Quad Critical Minerals Initiative to reduce dependence on China for key minerals like lithium.
- Also working on maritime law enforcement and illegal fishing issues.
Awards & Honours
PM Modi Honoured in Ghana
PM Modi received Ghana’s top civilian award – Officer of the Order of the Star of Ghana – for promoting ties between India and Africa.
Appointments
Amitabh Kant Joins Fairfax
Former NITI Aayog CEO Amitabh Kant has been appointed senior advisor at Fairfax. He played a big role in campaigns like Make in India, Startup India, and ease of doing business.
Science & Technology
Quantum Mission to Secure Banks
India’s Quantum Mission is forming a special group to protect banks from future cyber threats using quantum technology.
- Expected shift by 2028–29 to quantum-safe systems.
Japan’s Final H-2A Rocket Launched
Japan launched a climate satellite aboard the H-2A rocket, marking its last journey. It will monitor greenhouse gases and water cycle changes globally.
Environment
India Discovers 1100+ New Plant & Animal Species
In 2024, India discovered 683 animal and 433 plant species. Kerala and Karnataka led the list for new fauna, while Kerala and Maharashtra topped flora discoveries.
Important Day
American Independence Day – July 4
The US celebrates its Independence Day on July 4th every year, remembering the Declaration of Independence signed in 1776. The day is marked by parades, fireworks, and patriotic events.