Banking and RBI
RBI says reports of gold sales are incorrect; physical gold stock unchanged at 880.52 tonnes
3 June 2026 | The Hindu (PTI) and CNBC-TV18
The Hindu (PTI) reported on 3 June 2026 that the RBI dismissed media reports that it had sold gold worth about USD 12 billion to shield its reserves from the West Asia conflict, saying its physical gold stock remains unchanged at 880.52 tonnes.
CNBC-TV18 reported that the RBI's press release said such reports were not correct and that gold holdings are disclosed regularly through its Monthly Bulletin. The RBI's own release page was not read for this edition, so figures are attributed to these outlets.
Key facts- Physical gold stock: 880.52 tonnes, unchanged (RBI, as reported)
- Reports denied: sale of gold worth about USD 12 billion
- Disclosure: Monthly Bulletin
- Date: 3 June 2026
Exam takeaway: The RBI discloses its gold holdings in its Monthly Bulletin and weekly data.
Quick revision: RBI: gold stock unchanged at 880.52 tonnes; sale reports incorrect (The Hindu/PTI, 3 June).
The Hindu (PTI) and CNBC-TV18 original sourceGovernment Schemes
Cabinet approves up to Rs 10,000 crore ATF Price Stabilisation support for Indian airlines
3 June 2026 | Press Information Bureau
PIB said the Union Cabinet on 3 June 2026 approved one-time budgetary support not exceeding Rs 10,000 crore for Oil Marketing Companies to provide ATF price stabilisation to Scheduled Indian Airlines for domestic and international operations, during the exceptional fuel price volatility from the West Asia crisis.
The support is an interest-free advance to OMCs, compensating them for losses when the Import Parity Price exceeds the benchmark price under the approved mechanism. When international ATF prices moderate, the differential amount is to be recovered through a true-up mechanism.
Key facts- Support: up to Rs 10,000 crore, one-time, interest-free advance to OMCs
- Purpose: stable ATF pricing for Scheduled Indian Airlines
- Trigger: Import Parity Price above benchmark price
- Recovery: true-up when prices moderate
Exam takeaway: ATF is Aviation Turbine Fuel, the jet fuel used by airlines.
Quick revision: Cabinet 3 June 2026: ATF Price Stabilisation support up to Rs 10,000 crore via OMCs (PIB).
Press Information Bureau original sourceGovernment Schemes
Cabinet approves Khagaria-Purnea NH-31/231 four-laning in Bihar at Rs 3,936.05 crore
3 June 2026 | Press Information Bureau
PIB said the CCEA on 3 June 2026 approved upgradation of the Khagaria-Purnea section of NH-31 and NH-231 to four lanes (143.529 km) in Bihar on BOT (Toll) mode at a cost of Rs 3,936.05 crore, including a 6.729 km extended greenfield bypass of Purnea city.
The release says the project will raise average speeds, cut travel time to about two hours and improve road safety, and will connect five PM Gati-Shakti Economic Nodes.
Key facts- Project: Khagaria-Purnea section of NH-31 and NH-231, 4-lane
- Length: 143.529 km; cost Rs 3,936.05 crore
- Mode: BOT (Toll)
- Includes: 6.729 km greenfield bypass of Purnea
Exam takeaway: BOT (Toll) lets a private developer build and operate a road, recovering costs through tolls.
Quick revision: Cabinet 3 June 2026: Khagaria-Purnea four-laning, Rs 3,936.05 crore, BOT (Toll) (PIB).
Press Information Bureau original sourceNational and International Affairs
D. K. Shivakumar sworn in as the 25th Chief Minister of Karnataka
3 June 2026 | The Hindu
The Hindu reported that D. K. Shivakumar, Karnataka Pradesh Congress Committee President, was sworn in as the 25th Chief Minister of Karnataka on Wednesday, 3 June 2026 at the Glass House in Lok Bhavan, Bengaluru, taking over from Siddaramaiah. He was sworn in along with 13 Cabinet ministers.
G. Parameshwara, a senior Dalit leader from Koratgere, was sworn in as Deputy Chief Minister. India Today reported that Shivakumar took the oath holding a copy of the Constitution.
Key facts- Sworn in: 3 June 2026 as 25th Chief Minister of Karnataka
- Predecessor: Siddaramaiah
- Deputy CM: G. Parameshwara
- Venue: Glass House, Lok Bhavan, Bengaluru
Exam takeaway: The Chief Minister is appointed by the Governor and heads the State's Council of Ministers.
Quick revision: D K Shivakumar sworn in as 25th Karnataka CM, 3 June 2026 (The Hindu).
The Hindu original source