Daily Current Affairs 1st July 2026
🇮🇳 National Current Affairs
1. India Lifts Petrol & Diesel Sale Restrictions
The Government of India lifted restrictions on the sale of petrol and diesel from 1 July 2026.
The restrictions were introduced earlier due to global supply chain disruptions linked to tensions in the Middle East.
Commercial buyers can now resume normal fuel purchases from retail outlets.
2. New Rules & Changes Effective From 1 July 2026
Several important regulatory changes came into effect:
Changes related to Aadhaar services, passport fees, banking rules, credit card policies and railway regulations.
Financial institutions are implementing stricter measures to prevent mis-selling of financial products.
Digital service improvements are expected in EPFO services.
3. Chartered Accountants Day 2026
Chartered Accountants Day is observed every year on 1 July.
It commemorates the establishment of the Institute of Chartered Accountants of India (ICAI) on 1 July 1949.
In 2026, ICAI completed 77 years of service in regulating and developing the CA profession in India.
🌧️ Economy & Environment
4. IMD Forecast: Below-Normal Rainfall Likely in July
The India Meteorological Department (IMD) indicated that rainfall in July may remain below normal in many parts of India.
The country was facing a rainfall deficit, though improvement was expected with advancing monsoon activity.
The forecast is important for agriculture, water resources and rural economy.
🌏 International Affairs
5. Japan Prime Minister’s Visit to India
Sanae Takaichi is scheduled to visit India from 1–3 July 2026.
The visit is focused on strengthening India–Japan relations and participation in the annual bilateral summit.
Key discussion areas include strategic partnership, technology, defence and economic cooperation.
📌 Important Days – 1 July
🧾 Chartered Accountants Day
Date: 1 July
Established: 1949
Organisation: ICAI
Purpose: To recognise the contribution of Chartered Accountants in financial management, auditing and economic development.
🩺 National Doctors’ Day (India)
Observed: 1 July
Purpose: To honour doctors and their contribution to healthcare.
The day commemorates the birth anniversary of Bidhan Chandra Roy.
🏆 Sports Current Affairs
6. Sports Highlights
Sports events and rankings continued to feature prominently in global competitions during the 2026 season.
Competitive examinations are focusing on major tournaments, winners, venues and records from 2026 sporting events.
📚 One-Liner Current Affairs (For Exams)
CA Day is celebrated on: 1 July
ICAI was established in: 1949
ICAI headquarters: New Delhi
IMD forecast for July 2026: Below-normal rainfall likely
Fuel restrictions lifted in India from: 1 July 2026
Japan PM’s India visit: 1–3 July 2026
ICAI motto: Ya Aeshu Suptaeshu Jagruti
Current Affairs Quiz (1 July 2026)
Q1. Chartered Accountants Day is observed on which date?
A) 30 June
B) 1 July
C) 5 July
D) 15 July
✅ Answer: B) 1 July
Q2. Which organisation regulates the CA profession in India?
A) RBI
B) SEBI
C) ICAI
D) NITI Aayog
✅ Answer: C) ICAI
Q3. Which department issued the July 2026 rainfall forecast?
A) ISRO
B) IMD
C) DRDO
D) NITI Aayog
✅ Answer: B) IMD