CLAT 2027 Current Affairs June 2026: Monsoon Crisis, RBI Surplus, US-Iran Peace Deal, G7 Summit & More

Current affairs can be one of the most difficult sections to stay consistent with. Every month brings hundreds of news updates, but only a few are actually important from the CLAT exam point of view. Knowing what to focus on can save you time and make revision much easier.

This CLAT 2027 Current Affairs June 2026 roundup covers the major events from the month that you should know for your preparation. It includes topics such as India's monsoon crisis, the RBI's record surplus transfer, the US-Iran peace deal, the key outcomes of the G7 Summit, the Venezuela earthquake, and India's indigenous Netra AWACS. 

Along with the facts, you'll also understand why these events matter and how they connect to larger topics like the economy, environment, international relations, science and technology, and defence, making your revision more meaningful before the exam.

June 2026 Current Affairs at a Glance

Before going into each topic in detail, candidates can quickly revise the major current affairs covered in June 2026. The table below highlights the key events, important facts, and their relevance for CLAT 2027 preparation across areas such as the environment, economy, international relations, global affairs, and defence.

India's Monsoon Crisis and El Niño Overview

June 2026 saw a severe monsoon deficit primarily due to Super El Niño. The South West Monsoon entered India on June 4th, three days later than predicted. June 2026 recorded a 39.8% deficit in rainfall, making it the fifth driest June in 125 years, and the worst monsoon start of the decade. Out of 36 meteorological sub-divisions, 24 experienced deficient rainfall.

How the South West Monsoon Works

During summer, the Northern Hemisphere experiences high temperatures and low pressure, while the Southern Hemisphere has high pressure. Winds from the high-pressure Southern Indian Ocean move towards the low-pressure Indian subcontinent. 

As these winds cross the Equator into the Northern Hemisphere, the Coriolis Force deflects them to the right, directing them towards India from the southwest direction. These moisture-laden winds first hit the Western Ghats along Kerala.

What is ENSO and Super El Niño?

ENSO is a geographical concept involving periodic warming and cooling of the Central and Eastern Equatorial Pacific Ocean's sea surface temperature. It has three phases: El Niño, La Niña, and Neutral. ENSO is described as the biggest single driver of monsoon variability. 

El Niño is characterised by abnormally warm sea surface temperatures in the Central and Eastern Pacific Ocean. It weakens the Walker Circulation and Trade Winds, suppressing moisture transport to the Indian Ocean, leading to below-normal monsoon in India and Australia. Rainfall shifts to the Western coast of South America.

Why Was the 2026 Monsoon a Concern?

The 2026 monsoon was a concern because the year was predicted to experience a strong Super El Niño, with sea surface temperature anomalies exceeding +2°C and the event potentially ranking among the strongest since 1950. The expected weak monsoon raised concerns about agriculture, food prices, and rural economic activity. 

Around 12 million hectares could face delayed Kharif sowing, while nearly 315 districts were expected to receive below-normal rainfall. With rainfall forecast at around 90% of the Long Period Average (LPA), the situation could also contribute to higher food inflation, fertiliser-related challenges, reduced rural income, and weaker FMCG demand.

Economic Impact of the Weak Monsoon

A weak monsoon can have a significant impact on India's agriculture-dependent economy. Delayed or inadequate rainfall may affect Kharif sowing and crop production, which can put upward pressure on food prices and increase the risk of food inflation. 

Lower agricultural output can also reduce farm incomes and rural spending, affecting demand for consumer goods. At the same time, fertiliser shortages can add to the challenges faced by farmers. Therefore, a weak monsoon can have wider effects beyond agriculture, influencing inflation, rural demand, and overall economic activity.

Indian Ocean Dipole (IOD) and Historical Comparison

A Positive Indian Ocean Dipole (IOD) can offset some of El Niño's impact by supporting rainfall over India. However, the IOD was expected to remain neutral in 2026, meaning it would not help counter the effects of the forecast Super El Niño

Unlike 1997–98, when a Positive IOD helped balance El Niño's impact, the Neutral IOD in 2026, combined with fertiliser shortages, was expected to increase the risk of weaker monsoon conditions, delayed sowing, and food inflation.

RBI's Record Surplus Transfer to the Government

Overview

The Reserve Bank of India (RBI) Central Board approved a record surplus transfer of Rs. 2.87 lakh crore to the Union Government for the Financial Year 2026. This is the highest-ever transfer in the RBI's history and the third consecutive year of increasing transfers. The RBI's Balance Sheet increased by 20.61%, reaching Rs.91.97 lakh crore. Its gross income grew by 26.42%.

Why Did RBI Transfer Rs. 2.87 Lakh Crore?

Section 47 of the RBI Act, 1934, mandates the RBI to transfer its surplus profit to the Union Government. This is an obligation, not discretionary. The FY 2026 transfer is 3.3 times the FY 2023 payout. The Vimal Jalan Committee (2019) recommended the Economic Capital Framework to determine how much surplus the RBI should retain internally. 

The RBI maintains internal reserves; 1.09 lakh crore was added in FY 2026. The Contingent Risk Buffer (CRB) is maintained at 6.5% of the balance sheet.

How Does RBI Earn Money?

The RBI earns its income mainly through:

• Interest on Government Securities

• Returns from Foreign Exchange (Forex) Reserves

• Gains from Forex Operations

• Currency Issuance-related Fees

These sources contributed significantly to the record surplus transferred to the Union Government for FY 2026.

Legal Framework Behind the Transfer

The transfer of the RBI's surplus to the Union Government is governed by Section 47 of the Reserve Bank of India Act, 1934. The RBI's surplus transfer is determined after considering the central bank's financial requirements and internal risk provisions.

The Vimal Jalan Committee (2019) recommended the Economic Capital Framework (ECF) to guide the RBI in determining the level of economic capital it should maintain. The framework helps balance the RBI's need to maintain adequate reserves against the amount of surplus that can be transferred to the government.

The RBI also maintains a Contingent Risk Buffer (CRB) as part of its risk provisions. In FY 2026, the CRB was maintained at 6.5% of the RBI's balance sheet. These provisions form part of the framework used while determining the surplus available for transfer to the Union Government.

Impact on India's Economy and Fiscal Deficit

The record RBI surplus provides important fiscal support to the Union Government and helps strengthen the Budget for FY 2026–27. However, it does not completely resolve the government's fiscal challenges.

Although the record surplus provides temporary fiscal relief, the government continues to face pressure from rising crude oil prices, higher fertiliser subsidy requirements, and lower fuel excise collections. In that sense, the transfer acts as a cushion rather than a complete solution, while the fiscal deficit target remains 4.3% of GDP.

US-Iran Peace Deal 2026

A significant peace agreement, known as the 14-Point Islamabad Memorandum of Understanding (MOU), was signed in June 2026 to temporarily halt the conflict between the United States and Iran.

The negotiations involved US President Donald Trump, Vice President JD Vance, US envoy Steve Witkoff, Iranian President Masoud Pezeshkian, Iranian Foreign Minister Abbas Araghchi, and Pakistan's General Asim Munir, who served as the lead mediator.

The agreement created a 60-day negotiation window to work towards a permanent peace settlement while reducing immediate regional tensions surrounding the Strait of Hormuz.

Conflict Timeline

• 28 February 2026: Conflict escalated between the US and Iran.

• 8 April 2026: An initial ceasefire was announced.

• 14 June 2026: The 14-Point Islamabad Memorandum of Understanding (MOU) was digitally signed.

• 17 June 2026: The agreement was formally signed alongside the G7 Summit, beginning a 60-day negotiation window for a final peace settlement.

What is the 14-Point Peace Framework?

The 14-Point Islamabad Memorandum of Understanding (MOU) was signed in June 2026 as a significant peace agreement between the United States and Iran to temporarily halt the conflict. 

The agreement created a 60-day negotiation window to work towards a permanent peace settlement while reducing immediate regional tensions surrounding the Strait of Hormuz. Pakistan's General Asim Munir served as the lead mediator in the negotiations.

Key Provisions of the Agreement

The 14-Point Islamabad MOU included provisions covering security, Iran's nuclear programme, the Strait of Hormuz, and economic and sanctions-related measures. 

• Security and Sovereignty: Immediate cessation of military operations and mutual respect for sovereignty.

• Nuclear Program: Iran will not develop nuclear weapons and will eliminate its enriched uranium stockpile under IAEA supervision.

• Strait of Hormuz: US to lift naval blockade and Iran to enable free passage of commercial shipping within 30 days.

• Economic and Sanctions: US plans to finance $300 billion for Iran's reconstruction, and UN, IAEA, and US sanctions will be lifted.

Why Does it Matter for India?

The US-Iran conflict was important for India because of its impact on regional stability, shipping, and energy security. India maintained a neutral diplomatic stance and urged dialogue between the parties throughout the conflict.

The crisis affected Indian-linked shipping and increased shipping insurance costs. It also highlighted India's dependence on energy imports passing through the Strait of Hormuz and contributed to rising LPG and crude oil prices. These developments increased concerns about inflation and energy security in India.

G7 Summit 2026 Overview

The 52nd G7 Summit was held from June 15–17, 2026, in Évian-les-Bains, France. France hosted the G7 Summit for the second time, making Évian the first French town to host the summit twice. The G7 members are Canada, France, Germany, Italy, Japan, the UK, and the US. 

European Union also participated. India was invited as an outreach country with Brazil, Kenya, Egypt, and South Korea. Leaders adopted nine declarations covering areas such as Ukraine, the Middle East, Critical Minerals, and Global Economic Imbalances.

Key Participants

The summit was attended by G7 leaders, including US President Donald Trump, with invited leaders such as Indian Prime Minister Narendra Modi and Ukrainian President Volodymyr Zelenskyy. India participated as an outreach country. India was also involved in preparatory “Sherpa talks.”

The summit's location on Lake Geneva required extensive cross-border security coordination between French and Swiss forces.

Major Outcomes of the Summit

The summit addressed five major pillars:

• Global Economic Imbalances: Discussions focused on supply chain disruptions, overcapacity, underinvestment, over-indebtedness, and protectionism.

• Ukraine: The G7 reaffirmed support for Ukraine's sovereignty and territorial integrity and committed to providing air defence systems and long-range interceptors.

• Middle East and Strait of Hormuz: Leaders called to restore freedom of navigation in the Strait of Hormuz and promote regional stability.

• Artificial Intelligence (AI): Discussions were focused on trustworthy AI governance and balanced economic growth through digitalisation.

• Climate Finance: The summit discussed declarations on biodiversity finance, climate resilience, and continuity from the New Global Financial Pact.

Leaders adopted nine declarations covering Ukraine, the Middle East, Critical Minerals, and Global Economic Imbalances, among other areas.

India's Participation and the Global South

India advocated for partnerships in AI, cybersecurity, semiconductor manufacturing, and emerging technologies. It also pushed for a balanced energy policy and affordable climate finance for developing countries.

Prime Minister Narendra Modi emphasised that AI must be democratised for inclusion and empowerment, particularly for countries and communities in the Global South. India's participation highlighted its focus on technology partnerships, energy security, climate finance, and inclusive development.

Venezuela Earthquake 2026 Overview

On June 24, 2026, a major earthquake event caused widespread destruction across northwestern Venezuela. Around 6.8 million people were affected, while nearly 1.8 million people required humanitarian assistance, including approximately 680,000 children.

The confirmed death toll reached around 295, while more than 11,000 people were reported injured. Around 5,870 buildings were damaged or destroyed, and hospitals were overwhelmed. More than 2,000 rescuers were deployed to support rescue and relief operations.

Why Was the Earthquake Unique?

The Venezuela earthquake was unique because it involved twin quakes of magnitude 7.2 and 7.5, occurring only 39 seconds apart. More than 500 aftershocks were recorded. It continued to hamper rescue operations. 

This event differs from several other major earthquake disasters because of the close timing between the two major quakes. For comparison, the Turkey-Syria earthquake of 2023 involved twin quakes about nine hours apart, while the Venezuela event occurred within just 39 seconds.

Impact and Relief Efforts

The earthquake caused widespread destruction, with around 5,870 buildings damaged or destroyed and more than 11,000 people injured. The large number of aftershocks added to the challenges faced by rescue teams. Venezuela was also facing economic strain due to sanctions, which added to the country's existing fragility.

International relief efforts included rescue teams, humanitarian assistance, and emergency aid from multiple countries. The United States pledged $10 million, while China pledged $14.7 million in aid. UNICEF estimated that around 6.8 million people may need humanitarian assistance.

Tectonic Background

The twin earthquakes were associated with the Bocon and San Sebastian Faults. They involved the Caribbean and South American plates. The Venezuela event can be compared with other major earthquakes based on their magnitude and fault type.

Netra AEW&C System Overview

On June 25, 2026, DRDO formally handed over the Final Operational Clearance (FOC) certificate for the indigenous Netra Airborne Early Warning and Control System to the Indian Air Force (IAF). Netra operates on a modified Embraer EMB 145I jet and is 75% indigenous.

The system was dedicated to the scientists and air warriors who died in the 1999 “Aravat Prototype” plane crash. Netra, meaning “eye”, is an important part of India's indigenous development of Airborne Early Warning and Control Systems (AEW&C).

What is an AEW&C System?

An Airborne Early Warning and Control (AEW&C) system is an aircraft equipped with radar and mission control capabilities. It acts as a “flying eye” to detect airborne and maritime threats.

An AEW&C system provides radar coverage beyond the radar horizon and can support real-time monitoring of the battlespace. It can also function as an airborne command post, helping enable network-centric warfare.

Key Features of Netra

Netra uses an active electronically scanned array (AESA) radar that provides 240-degree coverage up to 375 km. It is capable of tracking multiple targets. Its mission suite also includes Identification Friend or Foe (IFF) capabilities.

The Centre for Airborne Systems (CABS), Bengaluru, under DRDO, is the nodal agency for the system. Netra also provides a secure data link for real-time pictures, supporting operations and battlespace awareness.

The system has provided critical support in the 2019 Balakot Air Strike, the 2020 India-China border standoff, and Operation Sindoor.

IOC vs FOC

Initial Operational Clearance (IOC) confirms the basic airworthiness of a system, while Final Operational Clearance (FOC) signifies that all Air Staff Qualitative Requirements have been met.

The FOC certificate was formally handed over to the IAF on June 25, 2026, marking an important stage in the operational development of the indigenous Netra AEW&C system.

Why Netra is Important for India's Defence

Netra strengthens India's indigenous defence capability and supports the country's Atmanirbhar Bharat approach. Its 75% indigenous components represent a significant self-made capability in airborne early warning and control systems.

The IAF also uses the larger Phalcon AWACS, which is not entirely indigenous. Netra therefore represents an important step towards developing India's own AEW&C capabilities.

Six more Netra Mark-1 aircraft have been approved, with a focus on enhancing sensors for drones and stealth technology. Netra's ability to provide extensive radar coverage, track multiple targets, share real-time information through secure data links, and function as an airborne command post makes it important for India's defence preparedness.