Context

Tamil Nadu Chief Minister C. Joseph Vijay wrote to Prime Minister Narendra Modi on 28 July 2026, urging the Union Government not to grant any statutory or administrative approval to Karnataka's proposed Mekedatu balancing reservoir project unless it is demonstrably consistent with the CWDT Award and the Supreme Court's judgment.

About the Cauvery River

• One of India's major east-flowing peninsular rivers, historically called Dakshin Ganga ("Ganga of the South") and Ponni in Tamil.
• Origin: Talakaveri, on the Brahmagiri range of the Western Ghats in Kodagu (Coorg) district, Karnataka, at an elevation of about 1,341 m.
• Basin area: 81,155 sq km, about 2.7% of India's geographical area, spread across Karnataka (34,273), Tamil Nadu (43,856), Kerala (2,866) and Puducherry.
• Bounded by the Western Ghats on the west, the Eastern Ghats on the east and south, and ridges separating it from the Krishna and Pennar basins on the north.

Tributaries

• Left bank: Harangi, Hemavati, Shimsha, Arkavati.
• Right bank: Lakshmantirtha, Kabini, Suvarnavati, Bhavani, Noyyal, Amaravati.

About the Mekedatu Project

• Mekedatu means "Goat's Leap" in Kannada — a deep gorge where the Arkavati joins the Cauvery.
• Location: Ramanagara district, Karnataka, about 90–100 km south of Bengaluru, roughly 4 km upstream of the Tamil Nadu border.
• Type: proposed multipurpose balancing reservoir-cum-drinking water project, executed by Cauvery Neeravari Nigam Ltd (CNNL).
• Cost: estimated at roughly ₹6,000–9,000 crore across different project reports.
• Objectives: supply 4.75 TMC of drinking water to the Bengaluru Metropolitan Region — the additional quantum granted by the Supreme Court — and generate 400 MW of hydroelectric power; Karnataka also argues it would regulate monthly releases to Tamil Nadu and prevent floodwaters escaping to the sea.

4. ADR–NEW Report on Chief Ministers: Criminalisation of Politics

Context

The Association for Democratic Reforms (ADR) and National Election Watch (NEW) released an analysis of the self-sworn election affidavits of all 31 incumbent Chief Ministers — heading 28 states and 3 Union Territories with legislatures (Delhi, Puducherry and Jammu & Kashmir). The affidavits are those filed with the Election Commission before each Chief Minister's most recent election.

What is Criminalisation of Politics?

• The growing participation and election of individuals with criminal backgrounds to public office — legislatures and executive positions alike.
• It undermines democratic governance by allowing persons facing serious criminal charges to shape law-making and public administration.
• Drivers: money and muscle power in elections, the "winnability" calculus of parties, weak and delayed judicial processes, and voter tolerance driven by caste, community or patronage considerations.

Key Findings

Criminal Cases

• 14 of 31 (45%) Chief Ministers have declared criminal cases.
• 11 (35%) face serious criminal cases.
• Two Chief Ministers have declared attempt-to-murder cases.

Assets

• Average declared assets of Chief Ministers: ₹118.07 crore.
• Combined assets of all 31 Chief Ministers: ~₹3,660 crore.
• Four Chief Ministers have assets exceeding ₹100 crore.

Wider Trend (18th Lok Sabha, 2024)

• MPs with criminal cases increased from 30% (2009) to 46% (2024).
• MPs with serious criminal cases rose from 14% (2009) to 31% (2024).
• Serious criminal cases among MPs have increased by 124% since 2009.
• Candidates with criminal cases had a 15.3% winning chance in 2024, compared to 4.4% for candidates with clean records.

Legal Framework

• Section 8, Representation of the People Act, 1951 disqualifies legislators only upon conviction.
• Under Section 8(3), conviction with imprisonment of 2 years or more leads to disqualification during imprisonment plus 6 years after release.
• Mere pending criminal cases or framing of charges do not result in disqualification.

Banking and Finance

1. RBI Allows Banks to Link Bulk Deposit Rates to Liquidity Profile

Sources: BS

Context

The Reserve Bank of India has given banks greater flexibility in pricing bulk deposits, allowing differential interest rates based on the liquidity characteristics of such deposits under the Liquidity Coverage Ratio (LCR) framework, while retaining the broader principle of uniformity in deposit pricing.

RBI Amends Interest Rate Directions for Bulk Deposits

Uniformity Retained

• Deposit interest rates must remain uniform across all branches for similar deposits accepted on the same date.
• No discrimination between customers for identical deposits.

Flexibility Introduced

• Banks can offer differential interest rates on bulk deposits based on the differential run-off rate under the Liquidity Coverage Ratio (LCR) framework.
• Eliminates the need to create artificial maturity buckets for pricing.

Stronger Disclosure Norms

• Deposit interest rates must strictly follow the pre-disclosed schedule on the bank's website.
• Bulk deposit rates must be published daily at 10:00 AM, with a maximum grace period until 10:10 AM.

What is a Bulk Deposit?

Defined under the Master Direction – RBI (Interest Rate on Deposits) Directions:

• The SCB/SFB threshold was raised from ₹2 crore to ₹3 crore in June 2024 (it had earlier moved from ₹1 crore to ₹2 crore in 2019).
• Rationale given at the time: better classification between bulk and retail deposits and improved asset–liability management.

What is the Liquidity Coverage Ratio (LCR)?

• A Basel III liquidity standard requiring a bank to hold enough High Quality Liquid Assets (HQLA) to survive an acute stress scenario lasting 30 calendar days.
• Formula: LCR = Stock of HQLA ÷ Total Net Cash Outflows over 30 days. The minimum requirement is 100%.
• Run-off factor: the assumed percentage of a given category of deposit or funding that would be withdrawn during the 30-day stress window. Stable retail deposits carry low run-off factors; unsecured wholesale funding carries much higher ones, because large institutional depositors are far more flight-prone.
• This is the economic logic behind the new rule: a deposit with a higher run-off rate imposes a higher HQLA cost on the bank, and the bank may now price that cost into the interest rate it offers.

Practice MCQs

Q1. With reference to the RBI's recent amendments to the directions on interest rates on deposits, consider the following statements:

1. Banks have been permitted to offer differential interest rates on bulk deposits by considering the differential run-off rate applicable under the Liquidity Coverage Ratio framework.
2. The requirement that deposit interest rates be uniform across all branches and customers has been withdrawn.
3. Interest rates on bulk deposits must be disclosed on the bank's website by 10:10 am on each business day.
4. The amended directions come into effect from 1 October 2026.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to bulk deposits in India, consider the following statements:

1. For Scheduled Commercial Banks other than Regional Rural Banks, and for Small Finance Banks, a bulk deposit means a single rupee term deposit of ₹3 crore and above.
2. For Regional Rural Banks and Local Area Banks, the bulk deposit threshold is ₹1 crore and above.
3. The threshold for Scheduled Commercial Banks was raised from ₹2 crore to ₹3 crore in 2024.
4. Bulk deposits are governed by the Master Direction on Interest Rate on Advances.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c) — Statements 1, 3, 4 are correct; Statement 2 is wrong because the RBI has expressly retained the uniformity principle. Rates must remain uniform across branches and customers; the flexibility is confined to differentiation on the basis of LCR run-off characteristics.
2. (c) — Statements 1, 2, 3 are correct; Statement 4 is wrong because bulk deposits fall under the Master Direction – RBI (Interest Rate on Deposits) Directions. Interest Rate on Advances governs lending rates, not deposits.

2. Sovereign-Backed Protection & Indemnity Cover for Indian Shipping

Sources: TH

Context

The Department of Financial Services (DFS), Ministry of Finance, launched India's first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP) at an event in New Delhi on Thursday, 30 July 2026. The product was designed by The New India Assurance Company Limited, and the event was chaired by DFS Secretary Sanjay Lohiya, who handed over the first P&I policy document to Shipping Corporation of India Limited.

Key Features of the P&I Product

• Covers third-party liabilities — crew liability, cargo liability, pollution liability and wreck removal.
• Supported by a 24×7 port correspondent network, with an indemnity limit of up to USD 1.5 billion through the pool's combined underwriting capacity.
• Aims to reduce India's dependence on the International Group of P&I Clubs, which have historically dominated third-party liability insurance for shipping.
• Positioned by the Ministry as a step towards Atmanirbhar Bharat in specialised insurance — reducing dependence on foreign markets and retaining the value generated by India's maritime trade within the domestic economy.

What is P&I Insurance?

• Marine insurance has two broad limbs: Hull & Machinery (damage to the ship itself) and Cargo (damage to goods). P&I covers the third-party liabilities that fall outside both.
• Typical P&I heads: injury, death or repatriation of crew, passenger claims, cargo loss or damage claims, oil pollution, wreck removal, collision liability beyond hull cover, fines and stowaway costs.
• Globally, P&I is provided by P&I Clubs — mutual, not-for-profit associations owned and controlled by shipowner and charterer members, which pool large claims among themselves.
• The International Group of P&I Clubs is a not-for-profit association of 12 clubs covering roughly 87–90% of the world's ocean-going tonnage and over 95% of ocean-going tankers.

The Bharat Maritime Insurance Pool (BMIP)

Approval and launch

• Approved by the Union Cabinet in April 2026; formally launched with first policy issuances on 12 May 2026.
• Total underwriting capacity of USD 1.5 billion, backed by a sovereign guarantee of USD 1.4 billion (₹12,980 crore).
• Reported to run for 10 years, extendable by a further five, with the corpus funded by ship owners and oil companies and partial backing from GIC Re.

Coverage

• All four critical maritime risk categories — Hull and Machinery, Cargo, Protection and Indemnity, and War Risk — for Indian-flagged or Indian-controlled vessels, and for any vessel starting from or destined for an Indian port.

Facts To Remember

1. President Murmu Launches New Initiatives to Mark Four Years in Office

President Droupadi Murmu launched multiple initiatives at Rashtrapati Bhavan in July 2026 to mark four years of her presidency. The initiatives include an application-based e-Audio Guide, RAAHI heritage connector, Bachpan ‘Bal Parisar’, e-Upahaar (3rd Edition), Net Zero Energy Strategy service block, and infrastructure projects. Vice President C.P. Radhakrishnan also released five commemorative books highlighting her four-year presidential journey.

2. Delhi Tops e-Zero FIR Registrations for Cyber Financial Fraud

The Ministry of Home Affairs informed Parliament that over 12,000 e-Zero FIRs were registered for cyber financial fraud in 2025 across 18 States and UTs. Delhi recorded the highest number with 6,115 cases, followed by Chandigarh. The e-Zero FIR system allows victims to report fraud through the National Cyber Crime Reporting Portal or the 1930 helpline before converting it into a regular FIR within three days.

3. Tripura Signs Three MoUs with NSE

The Government of Tripura signed three MoUs with the National Stock Exchange (NSE) to promote financial literacy, skill development, entrepreneurship, and investment awareness. The collaboration covers SIPARD, the Directorate of Industries & Commerce, and the Directorate of Skill Development. NSE will fund the programmes, while the state government will provide training infrastructure.

4. CUK and Indian Navy Sign MoU for Maritime Research

The Central University of Kerala signed an MoU with the Indian Navy to strengthen collaboration in maritime studies, defence research, innovation, and strategic knowledge development. The partnership will focus on AI, cybersecurity, ocean sciences, logistics, and maritime technologies. It also aims to enhance defence innovation through academic and research cooperation.

5. IISc to Host Fifth C-DOT Telecom Centre of Excellence

FSID, C-DOT, and IISc Bengaluru signed an agreement to establish a Centre of Excellence for advanced telecom research. The centre will focus on 5G, 6G, AI, cybersecurity, quantum communication, and industry-academia collaboration. It becomes C-DOT's fifth Centre of Excellence in India.

6. India Becomes World's Second-Largest Supplier of Seafarers

According to the BIMCO-ICS Seafarer Workforce Report 2026, India became the world's second-largest supplier of seafarers with over 3.11 lakh professionals, accounting for 12.16% of the global workforce. India moved from fifth position in 2015 to second in 2026, behind the Philippines. The report also highlighted a global shortage of qualified maritime officers.

7. ADB Approves USD 850 Million for Rooftop Solar Programme

The Asian Development Bank approved an USD 850 million loan under Subprogram-2 of the Accelerating Affordable and Inclusive Rooftop Solar Systems Development Programme. The funding supports the Prime Minister Surya Ghar: Muft Bijli Yojana and aims to help India achieve 30 GW rooftop solar capacity by FY27. It is also expected to reduce nearly 28.8 million tonnes of CO₂ emissions.

8. Open Secure AI Alliance Launched

NVIDIA, Microsoft, IBM, and several global technology firms launched the Open Secure AI Alliance (OSAA) to strengthen AI security and resilience. The alliance promotes secure-by-design AI systems, common security standards, and collaborative research. It was launched following growing cybersecurity concerns involving AI platforms.

9. Satya Pal Kumar Appointed Director of FIU-IND

The Appointments Committee of the Cabinet appointed IRS officer Satya Pal Kumar as Director of the Financial Intelligence Unit-India (FIU-IND) for a five-year term. He succeeded Pankaj Kumar Mishra. FIU-IND plays a key role in combating money laundering, terror financing, and suspicious financial transactions.

10. CCI Approves Go Digit Merger

The Competition Commission of India approved the merger of Go Digit Infoworks Services with Go Digit General Insurance. It is the first merger between an insurance company and a non-insurance holding company under the amended Insurance Laws Act, 2025. Following the merger, Fairfax Group will hold a 57.28% stake in Go Digit General Insurance.

11. New Fungus Species Discovered in Maharashtra

Researchers discovered a new polypore fungus species named Microporellus kolhapurensis in Kolhapur district, Maharashtra. The discovery was published in the Botanical Survey of India journal Nelumbo. It is only the second recorded species of the Microporellus genus found in Maharashtra.

12. Delhi Launches Lakshmi Yojana

The Delhi Government approved the Delhi Lakshmi Yojana to provide ₹2,500 monthly financial assistance to eligible women. The scheme has a budget allocation of ₹5,110 crore for 2026–27. Eligible women can choose between full payment through RD/FD or a combination of RD/FD and CBDC wallet.

13. Chhattisgarh Launches DWEEPTI Yojana

Chhattisgarh launched DWEEPTI Yojana, India's first women-led distributed renewable energy policy. The scheme aims to create 5,000 solar enterprises, generate 50,000 green jobs, and provide clean energy access to five lakh families. Women SHGs will be trained as "Solar Didis" under the initiative.

14. Shatmanyu Shrivastava Appointed LIC CFO

LIC appointed Shatmanyu Shrivastava as Executive Director (Finance & Accounts) and Chief Financial Officer following the resignation of Sunil Agrawal. He previously served as Executive Director (Enterprise Risk Management) and Chief Risk Officer. Varadarajan Muthuvenkataraman was appointed as the new Chief Risk Officer.

15. Ajinkya Rahane Retires from International Cricket

Former Indian batter Ajinkya Rahane announced his retirement from all formats of international cricket in July 2026. Rahane was known for his calm leadership and played a key role in India's historic Test series victory in Australia. He finished his career with 12 Test centuries, including eight overseas.

16. India Gets First Department of Military Medicine

Union Defence Minister Rajnath Singh inaugurated India's first dedicated Department of Military Medicine at Command Hospital, Lucknow. The department will strengthen combat medical preparedness through research, training, and specialised programmes in military trauma, CBRNE response, disaster medicine, and humanitarian assistance.

17. India to Set Up First Telecom Manufacturing Zone

The Department of Telecommunications and the Madhya Pradesh Government signed an MoU to establish India's first Telecom Manufacturing Zone at Gwalior. Spread over nearly 350 acres, the project will manufacture telecom equipment, semiconductors, optical fibre, and 5G/6G products under a plug-and-play industrial model.

18. MoTA Signs MoU for RET Medicinal Plant Conservation

The Ministry of Tribal Affairs signed a three-year MoU with CSIR-NBRI to conserve Rare, Endangered and Threatened (RET) medicinal plant species. The collaboration will integrate traditional tribal knowledge with modern botanical research while ensuring equitable benefit sharing with tribal communities.

19. MoRD Partners with PCI India for Women-Led Enterprises

The Ministry of Rural Development signed a three-year non-financial MoU with PCI India to strengthen women-led enterprises through public procurement. A National Resource Cell will be established under DAY-NRLM to support SHG enterprises with GeM onboarding, tender participation, and capacity building across selected states.

20. IRDAI Clears Magma General Insurance Acquisition

IRDAI approved Patanjali Ayurved and DS Group's acquisition of Magma General Insurance from Sanoti Properties for ₹4,500 crore. Patanjali will acquire a 73.56% stake, while DS Group will acquire 24.50%. IRDAI also granted an insurance licence to ProTec General Insurance.

21. SBI Card and Google Pay Launch Co-Branded Credit Card

SBI Card and Google Pay launched the Google Pay Flex SBI Card with RuPay and Visa variants. The RuPay version supports UPI-linked credit card payments and offers annual rewards of up to ₹18,000. The card integrates directly with the Google Pay app for digital account management.

22. NCDEX Launches 'Nidhi' Mutual Fund Platform

NCDEX launched "NCDEX Nidhi", a mutual fund transaction platform aimed at expanding mutual fund penetration in rural and semi-rural India. Built on API-first architecture, the platform initially onboarded six Asset Management Companies and supports UPI AutoPay for SIPs.

23. Telecom Excellence Awards 2025 Presented

Union Minister Jyotiraditya M. Scindia presented the Pandit Deendayal Upadhyaya Telecom Excellence Awards 2025 to Amantya Technologies and Finaara. During the event, the theme "Scale without Boundaries" was unveiled for India Mobile Congress 2026, scheduled from 7–10 October in New Delhi.

24. Four Mathematicians Receive 2026 Fields Medal

The International Mathematical Union awarded the 2026 Fields Medal to John Pardon, Yu Deng, Jacob Tsimerman, and Hong Wang. Yu Deng and Hong Wang became the first Chinese nationals to receive the honour, while Hong Wang became only the third woman ever to win the prestigious mathematics award.

25. Seventh Mahe-Class ASW Vessel Launched

Cochin Shipyard Limited launched Machilipatnam, the seventh Mahe-class Anti-Submarine Warfare Shallow Water Craft for the Indian Navy. The vessel has over 80% indigenous content and is named after the historic port city of Machilipatnam in Andhra Pradesh, reflecting India's Aatmanirbhar Bharat vision.

26. India Finishes Third at ISSF World Cup 2026

India finished third at the ISSF World Cup Rifle/Pistol 2026 held in Hangzhou, China, with one gold, one silver, and two bronze medals. Esha Singh won gold in the women's 25m pistol, while Sainyam Vij secured silver in the women's 10m air pistol.

27. International Tiger Day – 29 July

International Tiger Day is observed every year on 29 July to promote global tiger conservation and protect tiger habitats. Established in 2010 during the St. Petersburg Tiger Summit, the day highlights efforts to conserve the species. India remains home to nearly 70% of the world's tiger population.

28. International Day of Friendship – 30 July

The United Nations observes the International Day of Friendship on 30 July to promote peace, solidarity, and mutual understanding among people and nations. First officially observed in 2011, the day encourages friendship as a means of fostering global harmony.

Context

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved 'Samudra Manthan' — the National Offshore Exploration Scheme on 31 July 2026, a Central Sector Scheme of the Ministry of Petroleum and Natural Gas with an approved outlay of ₹84,084 crore for implementation up to FY 2030-31.

The scheme translates the Prime Minister's vision, articulated from the Red Fort on Independence Day 2025, of a "modern-day Samudra Manthan" to unlock India's vast offshore energy potential — the mythological churning of the ocean recast as a search for hydrocarbons beneath the seabed.

What It Is

A comprehensive, mission-mode programme covering the entire offshore exploration value chain, from data acquisition to commercialisation of discoveries.

Interventions provided for

• Large-scale acquisition, processing and interpretation of high-quality seismic data.
• Accelerated deepwater and ultra-deepwater exploratory drilling.
• Scientific drilling in frontier basins.
• Development of common offshore production and evacuation infrastructure.
• Establishment of an integrated Oil & Gas Manufacturing and Services Zone.
• Dedicated provisions for digital programme management, capacity building, technology adoption, stakeholder engagement and international outreach.

Component-wise Outlay

2. Nipun: India's Second Indigenous Diving Support Vessel

Sources: TOI

Context

Hindustan Shipyard Limited (HSL) formally delivered 'Nipun' — the second indigenous Diving Support Vessel (DSV) built for the Indian Navy — at Visakhapatnam on 30 July 2026, roughly a year after the lead ship of the class.

What It Is

A specialised, long-endurance naval vessel designed for deep-sea diving, underwater salvage, submarine rescue and search-and-rescue (SAR) missions — the second vessel of the Nistar-class DSVs.

• Built by: Hindustan Shipyard Limited, Visakhapatnam.
• Classification: designed and constructed in accordance with the Classification Rules of the Indian Register of Shipping (IRS).
• Name: from Sanskrit, meaning one who is adept, capable and well-versed in a particular discipline.
• Project: a two-ship programme contracted with HSL in September 2018 at a total cost of roughly ₹2,393 crore.

Aim: to strengthen the Navy's underwater strategic capabilities as a dedicated platform for deep-sea saturation diving, submarine rescue and salvage — reducing dependence on foreign rescue vessels.

About Hindustan Shipyard Limited

• Established in 1941 as Scindia Shipyard at Visakhapatnam; nationalised in 1952.
• Transferred from the Ministry of Shipping to the Ministry of Defence in 2010.
• Builds and repairs naval vessels and submarines; also constructed the fleet support ships and undertakes submarine refits.

3. Prevention of Insults to National Honour (Amendment) Bill, 2026

Sources: TH

Context

Parliament has passed the Prevention of Insults to National Honour (Amendment) Bill, 2026, which extends legal protection to Vande Mataram by prescribing penalties for obstructing or disrupting its singing — the same protection already available to the National Anthem.

Objective and Rationale

Objective to provide statutory protection to the National Song comparable to that already available for the National Anthem.

Government's rationale: the Bill recalls the Constituent Assembly proceedings of 24 January 1950, when President Dr. Rajendra Prasad declared that:

• Jana Gana Mana would be the National Anthem, and
• Vande Mataram, which had played a historic part in the freedom struggle, would be honoured equally with Jana Gana Mana and have equal status with it.

The Parent Act: Prevention of Insults to National Honour Act, 1971

What Changes in 2026

About Vande Mataram

Constitutional position: the Constitution does not explicitly mention a National Song. Article 51A(a) makes it a Fundamental Duty of every citizen to abide by the Constitution and respect its ideals and institutions, the National Flag and the National Anthem. The National Song is absent from the text, though official protocol accords it equal respect.

Jana Gana Mana

• Composed by Rabindranath Tagore; first sung at the Calcutta session of the Congress on 27 December 1911.
• Adopted as the National Anthem on 24 January 1950 — the last day of the Constituent Assembly.

4. India's First Telecom Manufacturing Zone (TMZ), Gwalior

Sources: News on Air

Context

The Department of Telecommunications (DoT) and the Government of Madhya Pradesh signed a Memorandum of Understanding on 30 July 2026 at Vigyan Bhawan, New Delhi, to establish India's first integrated Telecom Manufacturing Zone (TMZ) at Gwalior.

What It Is

An integrated 350-acre plug-and-play industrial cluster creating a specialised ecosystem for telecom and electronics manufacturing, R&D, testing, certification, innovation and intellectual property creation under one roof.

Aim: to reduce reliance on imported telecom hardware, accelerate indigenous R&D for 5G and 6G technologies, boost domestic manufacturing, and establish India as a global exporter of telecom equipment — encapsulated in the slogan "Design in India, Make in India, Export from India."

5. Western Ghats and the Ecologically Sensitive Area Notification

Sources: The Indian Express

Context

The Western Ghats Ecologically Sensitive Area (ESA) notification remains unfinalised more than a decade after the first draft. Following the expiry of the previous draft in July 2026, the Ministry of Environment, Forest and Climate Change (MoEF&CC) re-issued a fresh draft notification proposing about 56,825.7 sq km as ESA and extended the tenure of the expert committee headed by former Director General of Forests Sanjay Kumar until July 2027.

About the Western Ghats

• A chain running roughly 1,600 km parallel to India's west coast, from the Tapi valley in the north to Kanyakumari in the south, across six States — Gujarat, Maharashtra, Goa, Karnataka, Kerala and Tamil Nadu.
• Older than the Himalayas; total area estimated by the Kasturirangan group at about 1.64 lakh sq km.
• One of the world's eight "hottest" biodiversity hotspots; extremely high endemism in amphibians, fish, reptiles and flowering plants.
• UNESCO World Heritage Site (2012) — 39 serial sites comprising national parks, wildlife sanctuaries and reserved forests.
• Highest peak: Anamudi (2,695 m), Kerala. Major passes: Palghat, Goa (Thal), Bhor and Shencottah gaps.
• Source of major peninsular rivers — Godavari, Krishna, Cauvery, Tungabhadra, Periyar — and a decisive influence on the south-west monsoon.

Ecologically Sensitive Area (ESA)

• An Ecologically Sensitive Area (ESA) is a region notified under the Environment (Protection) Act, 1986 to conserve ecologically fragile ecosystems.
• ESAs act as buffer zones around protected areas and other environmentally important regions.
• Certain activities such as mining, quarrying, thermal power plants, and highly polluting industries are prohibited or strictly regulated.
• Sustainable activities like agriculture, horticulture, eco-tourism, and traditional livelihoods are generally permitted under regulated conditions.

6. Registration of Births and Deaths (Amendment) Bill, 2026

Sources: The Hindu

Context

The Lok Sabha passed the Registration of Births and Deaths (Amendment) Bill, 2026 on 31 July 2026 without debate, by voice vote amid Opposition protests against the police action on student protesters at Jantar Mantar on 20 July.

What the Bill Does

It amends Section 13 of the Registration of Births and Deaths Act, 1969, which governs delayed registration.

Existing position

• An order is required to register any birth or death reported more than one year after the event.
• Such an order may be issued by a District Magistrate, Sub-Divisional Magistrate, or an Executive Magistrate authorised by the District Magistrate, after verifying correctness and on payment of a prescribed fee.

Proposed two-tier structure

• The Bill also updates legal definitions, aligning the expression "executive magistrate" with the Bharatiya Nagarik Suraksha Sanhita, 2023, replacing references to the Code of Criminal Procedure, 1973.
• Effect: a judicial layer of verification is added to a process that had so far remained wholly within the administrative machinery.

Background: The Parent Act and the 2023 Amendment

• Registration of Births and Deaths Act, 1969 makes registration of births and deaths compulsory; the certificate issued confers legal identity.
• Administered through the Registrar General of India (under the Ministry of Home Affairs), Chief Registrars in States, and District and local Registrars.
• 2023 Amendment (in force from 1 October 2023): created a national database of registered births and deaths maintained by the Registrar General; required Aadhaar numbers of parents and the informant for birth registration; and made the birth certificate a single document for admission to educational institutions, issue of driving licence, passport, voter registration, marriage registration and government appointments.

Rationale for tightening: to curb fraudulent or fabricated late registrations used to manufacture proof of identity, age or citizenship — a concern that grows once the birth certificate becomes a single foundational document.

Also on the Table That Day

The Constitution (130th Amendment) Bill, 2025

• Introduced in the Lok Sabha by Home Minister Amit Shah on 20 August 2025; referred to a 31-member Joint Committee constituted on 12 November 2025.
• Seeks to amend Articles 75, 164 and 239AA, inserting provisions for automatic removal of a Minister, Chief Minister or the Prime Minister who is arrested and detained in custody for 30 consecutive days on allegation of an offence punishable with imprisonment of five years or more.
• Mechanism: a Minister is removed by the President on the advice of the Prime Minister (or Governor on the CM's advice) on the 31st day; if no such advice is tendered, the Minister ceases to hold office thereafter. A Prime Minister or Chief Minister must resign by the 31st day, failing which he ceases to hold office.
• Re-appointment on release from custody is not barred.
• Companion Bills: the Jammu and Kashmir Reorganisation (Amendment) Bill, 2025 and the Government of Union Territories (Amendment) Bill, 2025, extending the scheme to J&K and Puducherry (the 130th Amendment itself covers Delhi).

Practice MCQs

Q1. With reference to the Registration of Births and Deaths (Amendment) Bill, 2026, consider the following statements:

1. It amends the Registration of Births and Deaths Act, 1969.
2. It provides that a birth or death reported more than two years after its occurrence may be registered only on the order of a Judicial Magistrate of the First Class.
3. For a delay of more than one year but within two years, registration continues to require an order of a District Magistrate, Sub-Divisional Magistrate or authorised Executive Magistrate.
4. The Bill received the assent of the President after being passed by both Houses in July 2026.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to the registration of births and deaths in India, consider the following statements:

1. Registration of births and deaths is compulsory under the parent Act of 1969.
2. The Registrar General of India functions under the Ministry of Home Affairs.
3. Following the 2023 amendment, the birth certificate serves as a single document for purposes such as admission to educational institutions and issue of a passport.
4. The 2026 Bill aligns the term "executive magistrate" with the Bharatiya Nagarik Suraksha Sanhita, 2023.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c) — Statements 1, 2, 3 are correct; Statement 4 is wrong because the Bill was passed only by the Lok Sabha on 31 July 2026 and still awaits consideration by the Rajya Sabha; presidential assent follows passage by both Houses.
2. (d) — All four are correct. Registration is compulsory under the 1969 Act; the Registrar General of India sits under the MHA; the 2023 amendment made the birth certificate a single foundational document from 1 October 2023; and the 2026 Bill updates the definition of "executive magistrate" in line with the BNSS, 2023.

7. Pradhan Mantri Surya Sarovar Yojana (PM-SSY)

Sources: News on Air

Context

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) on 31 July 2026 with an outlay of ₹5,070 crore, to promote floating solar projects co-located with battery storage across reservoirs, dams and other inland water bodies.

What It Is

A Central Sector Scheme promoting Floating Solar Photovoltaic (FSPV) generation integrated with Energy Storage Systems (ESS). It uses water surfaces — reservoirs, dams, lakes, irrigation tanks and industrial ponds — to generate clean power while avoiding land-use conflict.

Aim: to expand India's floating solar capacity from the present ~700 MW to 5,700 MW, mitigate land acquisition bottlenecks, reduce evaporation losses from reservoirs, and enhance grid reliability.

Floating Solar Photovoltaic (FSPV)

• Floating Solar Photovoltaic (FSPV) refers to solar power plants installed on floating platforms over water bodies such as reservoirs, lakes, ponds, and dams.
• It generates renewable electricity while reducing pressure on land resources.
• The water surface helps cool solar panels, improving efficiency and reducing evaporation losses.
• FSPV supports clean energy generation, optimal use of unused water surfaces, and lower land acquisition requirements.

Key Features

• Central Financial Assistance (CFA): ₹1 crore per MW, released post-commissioning. Its purpose is to bridge the roughly 25% higher capital cost of floating solar platforms compared with ground-mounted solar — floats, anchoring and marine-grade cabling add cost that a level-playing-field tariff would not otherwise cover.
• Mandatory co-located storage: minimum 2-hour ESS with every project, to supply power during evening peak demand and reduce renewable energy curtailment during periods of excess midday generation.
• Project de-risking grants: up to ₹50 lakh per project for initial technical feasibility studies — bathymetry and hydrography surveys, solar yield calculations, and aquatic ecological impact assessments.
• Aatmanirbhar manufacturing push: stimulates indigenous manufacturing across the value chain — floatation platforms, anchoring and mooring systems, PV modules and storage batteries.

8. India's Next Growth Frontier Report

Source: PIB

Context

In July 2026, the Competere Foundation for Trade and Competition Policy — an independent policy and advocacy group — released its report "India's Next Growth Frontier: Reducing Anti-Competitive Market Distortions (ACMDs) to Build on India's 2010–2023 Reform Progress." As per the report, India has emerged as one of the strongest structural reformers among the economies studied, improving its overall global ranking by 25 places — from 82nd in 2010 to 57th in 2023.

About the Report

Aim: to track India's structural and pro-competitive reforms between 2010 and 2023, and to recommend further reforms strengthening productivity, investment and global competitiveness.

What It Is

A report assessing India's reform performance through the Market Distortions Performance Index (MDPI) — the Foundation's own index measuring the extent to which anti-competitive market distortions impede efficient market functioning. It evaluates how structural reforms have reduced distortions and improved India's competitiveness in the global economy.

Aim: to assess India's progress in reducing anti-competitive market distortions and to recommend reforms that strengthen productivity, investment and global competitiveness.

Key Findings

• Improved global ranking: India rose from 82nd (2010) to 57th (2023) on the MDPI — a gain of 25 places, making it one of the strongest structural reformers among the economies studied.
• Three-pillar assessment: the index evaluates
  1. Protection of property rights
  2. Domestic competition
  3. International competition
• Major reform drivers: the Goods and Services Tax (GST), the Insolvency and Bankruptcy Code (IBC), trade facilitation measures — including the Indian Customs Electronic Gateway (ICEGATE), the Single Window Interface for Facilitating Trade (SWIFT) and Direct Port Delivery (DPD) — and broader regulatory improvements.
• Need for competition reforms: calls for an evidence-based, consumer welfare-oriented competition policy, especially for digital markets and emerging sectors.
• Global trade integration: recommends reviewing sector-specific investment restrictions and strengthening cooperation with like-minded countries to address international regulatory barriers.

Understanding Anti-Competitive Market Distortions (ACMDs)

An ACMD is any government measure, regulation or private practice that distorts competition and misallocates resources — distinct from ordinary anti-competitive conduct by firms, which competition law already addresses.

Banking and Finance

1. IRDAI Reforms: Intermediary Rules Tightened, Investment Norms Eased

Sources: Business Standard

Context

The IRDAI, at its 137th Authority Meeting held on 28 July 2026 at its head office in Hyderabad, approved a package of regulatory, supervisory and developmental reforms, reported on 31 July 2026. The reforms advance implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025 (SBSR Act) and support the goal of "Insurance for All by 2047."

Regulations approved at the meeting

1. IRDAI (Actuarial, Finance and Investment Functions of Insurers) (Second Amendment) Regulations, 2026
2. IRDAI (Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers) (Amendment) Regulations, 2026
3. IRDAI (Policyholders' Education and Protection Fund) Regulations, 2026
4. Amendments mandating tagging of authorised salespersons
5. IRDAI (Manner and Procedure for Imposition of Penalties) Regulations, 2026
6. Registration granted to ProTec General Insurance Ltd.

Part A — Tightening of Intermediary Rules

Scope: corporate agents, insurance brokers, insurance marketing firms (IMFs), web aggregators and Common Public Service Centre Special Purpose Vehicles (CPSC-SPVs).

1. Perpetual registration

• A certificate of registration, once issued, remains valid indefinitely, subject to payment of a non-refundable annual fee — replacing the earlier system of periodic renewal.
• Registration continues until suspended or cancelled by IRDAI, or surrendered by the intermediary.
• Annual fee: the higher of ₹10,000 or 0.04% of commission and other receipts from insurers during the preceding financial year.

2. Salesperson tagging — traceability at the point of sale

• Intermediaries must maintain records identifying the individual involved in the sale or solicitation of every policy.
• The name and functional identity of broker-qualified persons, point-of-sales persons, designated persons, authorised verifiers or other authorised salespersons must appear in proposal forms, policy documents and certificates of insurance, along with contact details of the relevant branch or office.
• For policies sold directly through an intermediary's digital platform without any salesperson's involvement, the principal officer's contact details must be included.
• Effective from 1 January 2027.
• Purpose: creates a clear audit trail. If a customer later alleges mis-selling, wrong advice or non-disclosure of material terms, the responsible salesperson can be identified.

3. Enhanced disclosures

• Additional disclosure obligations for majority foreign-owned entities and those crossing specified commission-income thresholds — aligning the regime with the new 100% FDI framework.
• IRDAI may impose conditions on an intermediary's business at registration or subsequently, in the interest of policyholders and the orderly growth of the sector.

4. Training

• For insurance marketing firms, principal officers and insurance salespersons must complete at least 25 hours of training once every three years through an examination body recognised by IRDAI.

Part B — Easing of Investment Norms

Under the amendments to the actuarial, finance and investment functions regulations:

Risk oversight: a comprehensive annual Financial Condition Report is now mandatory, covering solvency, reserve adequacy, liquidity, stress testing and Asset-Liability Management resilience.

Part C — The Enabling Statute: SBSR Act, 2025

Key provisions

• FDI in Indian insurance companies raised from 74% to 100% of paid-up equity capital (Section 3AA). The cap for insurance intermediaries remains 100% under the automatic route, and for LIC 20%. A DPIIT Press Note amending the FDI Policy was issued on 9 February 2026.
• Net-owned fund requirement for foreign reinsurers reduced from ₹5,000 crore to ₹1,000 crore.
• Removed the ₹100 crore minimum paid-up share capital requirement for insurance co-operative societies.
• One-time licensing for intermediaries, and suspension of licence rather than outright cancellation.
• IRDAI empowered to disgorge wrongful gains from insurers and intermediaries; penalties rationalised with prescribed factors for imposition.
• Standard operating procedure mandating a consultative regulation-making process.
• Section 16A — constitution of the Policyholders' Education and Protection Fund (PEPF), established and administered by IRDAI, funded by grants and donations from IRDAI, the Central and State Governments and companies, and by monies collected as penalties.

PEPF objectives: promoting insurance awareness and financial literacy, strengthening grievance redressal, enhancing policyholder services through technology, and enabling tracing and recovery of unclaimed insurance amounts.

About IRDAI

• Statutory body established under the IRDA Act, 1999; headquarters at Hyderabad (shifted from Delhi in 2001).
• Constituted on the recommendations of the Malhotra Committee (1993), chaired by former RBI Governor R.N. Malhotra, which recommended opening the sector to private participation and creating an independent regulator.
• Composition: a Chairperson, up to five whole-time members and four part-time members, appointed by the Central Government.
• Domestic Systemically Important Insurers (D-SIIs) designated by IRDAI: LIC, GIC Re and The New India Assurance Company.

Agriculture

1. PM-KISAN Extended to 2030-31

Sources: The Hindu

Context

The Union Cabinet on 31 July 2026 approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme from 2026-27 to 2030-31, with a total financial outlay of ₹3,15,614 crore (about ₹3.15 lakh crore). This is a five-year extension covering FY 2026-27 through FY 2030-31, announced by Information and Broadcasting Minister Ashwini Vaishnaw after the Cabinet meeting.

About the Scheme

Facts To Remember

1. Delhi Launches Registration Portal for Delhi Lakshmi Yojana

The Delhi Government launched the registration portal for the Delhi Lakshmi Yojana, under which eligible women will receive ₹2,500 per month as financial assistance. The scheme is expected to benefit around 17 lakh women, with support aimed at improving financial security for women from economically weaker sections.

2. Ladakh Declares 23 Heritage Sites as Protected Monuments

The Union Territory of Ladakh notified 23 heritage sites as Protected Monuments under the Jammu & Kashmir Ancient Monuments Preservation Act, 1920. The move provides statutory protection to archaeological, historical and cultural sites across Leh, Nubra, Sham, Zanskar and Kargil, strengthening heritage conservation in the region.

3. IN-SPACe Issues Guidelines for Space Object Re-entry

IN-SPACe released new guidelines under the Indian Space Policy 2023 to regulate planned re-entry of space objects by private entities. The framework mandates prior authorisation, safety assessments, liability compliance and insurance provisions to ensure safe and accountable spacecraft re-entry operations.

4. IIT Gandhinagar and IAIRO Sign MoU for AI Research

IIT Gandhinagar and the Indian Artificial Intelligence Research Organisation (IAIRO) signed an MoU to promote AI research, education and talent development. The collaboration includes joint research projects, faculty exchange, AI infrastructure development and specialised academic programmes.

5. NSDC and AVPL to Set Up 350 Drone Skill Centres

The National Skill Development Corporation (NSDC) partnered with AVPL International to establish 350 Advanced Skill Centres for Drone Technology over three years. The centres will provide training in drone piloting, manufacturing, AI applications, GIS, maintenance and entrepreneurship to build a future-ready workforce.

6. Candere Hurun India Women Leaders List 2026 Released

Candere and Hurun India released the second edition of the India Women Leaders List 2026, recognising 117 women achievers across 12 categories. Roshni Nadar, Priya Nair, Avani Lekhara and Sudha Murty were among the leading personalities honoured for their contributions in business, sports and social impact.

7. Saudi Arabia Launches Maritime Defence Alliance

Saudi Arabia and 13 other countries announced a Multinational Maritime Defence Alliance to safeguard shipping routes across the Red Sea, Gulf of Aden and Bab el-Mandeb Strait. The alliance aims to strengthen maritime security, protect freedom of navigation and secure global trade routes.

8. Venezuela Withdraws from Rome Statute

Venezuela formally notified the United Nations of its withdrawal from the Rome Statute, initiating its exit from the International Criminal Court (ICC). The withdrawal will take effect after one year but will not affect ongoing ICC investigations or proceedings initiated before the withdrawal.

9. RBI Defers Basel III Disclosure Norms

The Reserve Bank of India postponed the implementation of the revised Basel Pillar III disclosure framework by six months to 1 April 2027. The extension was granted after stakeholder feedback, allowing banks additional time to align with the Expected Credit Loss framework.

10. ADB Approves USD 1 Billion Urban Transformation Loan

The Asian Development Bank approved a USD 1 billion loan to support India's Urban Challenge Fund and accelerate urban transformation. The programme will strengthen municipal governance, improve infrastructure, expand municipal financing and promote digital urban management systems.

11. Indian Navy Receives Indigenous Diving Support Vessel ‘Nipun’

The Indian Navy inducted 'Nipun', the second indigenous Diving Support Vessel built by Hindustan Shipyard Limited. With around 75% indigenous content, the vessel enhances India's capabilities in deep-sea diving, submarine rescue, underwater salvage and maritime emergency operations.

12. Ajinkya Rahane Retires from International Cricket

Former Indian batter Ajinkya Rahane announced his retirement from international cricket after a distinguished 12-year career. He represented India in 195 international matches and captained the team to the historic 2020–21 Border-Gavaskar Trophy victory in Australia.

13. World Day Against Trafficking in Persons 2026 – 30 July

The United Nations observed World Day Against Trafficking in Persons on 30 July to raise awareness about human trafficking and strengthen victim protection. The 2026 theme was "Trapped Behind the Scam", highlighting the growing misuse of online scams for human trafficking.

14. World Ranger Day 2026 – 31 July

World Ranger Day was observed on 31 July to honour rangers who protect wildlife and natural heritage while remembering those who lost their lives in the line of duty. The 2026 theme was "Rangers: Guardians of a Changing Planet."

15. Odisha Signs ₹3,385 Crore BharatNet Agreement

The Odisha Government signed a tripartite agreement with Digital Bharat Nidhi and BSNL to implement the amended BharatNet programme worth ₹3,384.82 crore. The project aims to provide optical fibre connectivity to around 50,000 villages across the state.

16. Tamil Nadu Signs Four MoUs for GCCs and Foreign University Campus

The Tamil Nadu Government signed four MoUs to establish Global Capability Centres, R&D facilities and the University of Western Australia’s India campus in Chennai. The projects are expected to attract significant investments and generate nearly 2,920 employment opportunities.

Context

The Lok Sabha passed the Bill on 3 August 2026 by voice vote, without debate, amid Opposition protests over the Jantar Mantar police action and the alleged chadhawa chori at the Ram Temple. Law Minister Arjun Ram Meghwal introduced it; a statutory resolution disapproving the Ordinance was rejected. The Bankers' Books Evidence Bill, 2026 and Indian Statistical Institute Bill, 2026 were introduced the same day.

What the Bill Does

• Amends Section 2, Supreme Court (Number of Judges) Act, 1956.
• Judges excluding the CJI: 33 → 37; total including CJI: 34 → 38.
• Replaces the Ordinance of 16 May 2026; carries a saving clause validating actions taken under it.
• No constitutional amendment needed — Article 124(1) leaves the strength to ordinary law.

Rationale — Pendency

Also intended to let the CJI constitute Constitution Benches regularly.

Strength Progression (incl. CJI)

1950: 8 → 1956: 11 → 1960: 14 → 1977: 18 → 1986: 26 → 2009: 31 → 2019: 34 → 2026: 38

Key Constitutional Points

• 124(1) — strength alterable by Parliament by ordinary law.
• 124(3) — HC judge 5 yrs / HC advocate 10 yrs / distinguished jurist (never used).
• Retirement age 65; appointments via the Collegium (Second and Third Judges Cases); NJAC struck down in 2015.
• Article 123 — President's ordinance power; lapses six weeks after reassembly; D.C. Wadhwa (1987) barred re-promulgation. Article 213 is the Governor's equivalent.

2. MSME Development (Amendment) Bill, 2026

Source: The Hindu

Context

The Rajya Sabha passed the Bill, amid Opposition demands for an apology from Home Minister Amit Shah over the police action against protesting students. The Upper House functioned only 19 minutes in the morning and was adjourned soon after passage. Opposition members did not participate in the debate; amendments moved by INDIA bloc members Ajay Maken, John Brittas, V. Sivadasan and A.A. Rahim were defeated by voice vote. The Lok Sabha passed it on 7 August 2026, completing parliamentary approval.

Key Provisions

• Registration
  • MSME registration becomes voluntary. The Centre will establish a free digital registration platform, giving statutory backing to the Udyam Registration Portal.
• Classification
  • MSMEs will be classified using investment and turnover criteria. Thresholds can be revised by notification without amending the Act.
• Delayed Payments
  • Central PSEs must settle MSME procurement invoices through TReDS.
  • New Section 22A requires notified entities to disclose MSME invoices routed through TReDS.
  • States can establish multiple MSEFCs, with faster online dispute resolution and arbitration.
• Decriminalisation
  • Criminal fines replaced with graded civil penalties. Penalties may increase by 10% every three years.
  • Development Commissioner becomes the adjudicating officer; appeals must be filed within 30 days and disposed of within 60 days.

New Enforcement Provisions

• Section 18(6) — Online Dispute Resolution: empowers the Central Government to establish an ODR mechanism for mediation and arbitration through audio-video and other electronic means, removing the cost and travel barrier that deters small suppliers from pursuing claims.
• Section 18A — Recovery as arrears of land revenue: mediated settlement agreements and arbitral awards may be recovered through the District Collector, Deputy Commissioner or any other authority notified by the State Government. Such awards constitute a legally enforceable debt capable of recognition under the Insolvency and Bankruptcy Code, 2016.
• Sections 20–21 substituted: States may establish additional Facilitation Councils and have greater flexibility in deciding MSEFC composition, to speed up disposal.
• Section 22A: notified Central and State Public Sector Enterprises and other notified entities must disclose details of MSME invoices routed through TReDS.

3. Pradhan Mantri Surya Sarovar Yojana (PM-SSY)

Source: PIB

Context

The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) on 31 July 2026 with an outlay of ₹5,070 crore, to promote floating solar projects with battery storage across reservoirs, dams and other inland water bodies.

What It Is

A national renewable energy Central Sector Scheme promoting floating solar power generation co-located with energy storage. It optimises water surfaces — reservoirs, dams, lakes, irrigation tanks and industrial ponds — to generate clean energy while preventing land-use conflicts.

Aim: to expand India's floating solar capacity from about 700 MW to 5,700 MW, by adding 5,000 MW coupled with 10,000 MWh of storage — mitigating land acquisition bottlenecks, reducing evaporation losses, and enhancing grid reliability.

Key Features

• Capacity target: 5,000 MW of Floating Solar Photovoltaic (FSPV) projects across all States and UTs between FY 2026-27 and FY 2030-31.
• Mandatory co-located energy storage: Energy Storage Systems with a minimum 2-hour duration, totalling 10,000 MWh, to supply power during peak demand hours and reduce renewable energy curtailment.
• Central Financial Assistance: ₹1 crore per MW, released post-commissioning, to bridge the roughly 25% higher capital cost of floating platforms compared with ground-mounted solar.
• Project de-risking grants: up to ₹50 lakh per project for initial technical feasibility studies — bathymetry and hydrography surveys, solar yield calculations, and aquatic ecological impact assessments.
• Aatmanirbhar manufacturing push: indigenous manufacturing across the value chain — floatation platforms, anchoring and mooring systems, PV modules and storage batteries.
• Expected investment: about ₹28,500 crore; CO₂ reduction of roughly 10 million tonnes annually; 16,000–17,000 full-time equivalent jobs.

4. The Revamped Khelo India Scheme

Source: PIB

Context

The Union Cabinet, chaired by the Prime Minister, approved an expanded and revamped Khelo India Scheme on 31 July 2026, along with an enhanced Assistance to National Sports Federations (ANSF) scheme. Announced by I&B Minister Ashwini Vaishnaw, the Government described it as the country's most ambitious sports development programme since Independence.

What It Is

The central flagship initiative of the Ministry of Youth Affairs and Sports, designed to revive India's sports culture at the grassroots, identify athletic talent, construct modern sports infrastructure, and establish a structured pathway to national and international excellence.

Aim: aligned with the Khelo Bharat Niti 2025 and NEP 2020, it integrates sports with education, expands the talent pool, builds high-performance ecosystems, and supports India's Commonwealth Games and Olympic hosting ambitions.

Key Features

• Massive athlete pool expansion: introduces the Emerging Khelo India Athletes (E-KIAs) category alongside existing Khelo India Athletes (KIAs), expanding the structured development ecosystem nearly ten-fold under professional coaching and scientific support.
• School-level integration: two new initiatives — Khelo India Feeder Schools (KIFS) and Khelo India Utkrishta Vidyalayas (KIUV) — to embed physical education into mainstream school curricula and enable early talent identification.
• Integrated nationwide training ecosystem: a seamless tier of National Centres of Excellence (NCOEs), Khelo India State Centres of Excellence (KISCEs), SAI Training Centres (STCs), and Youth Sports Companies (YSCs) operated by the Armed Forces.
• National Coach Accreditation Board (NCAB): to standardise coaching qualifications, enforce high-performance benchmarks and upscale sports science support personnel.
• Unified digital sports platform: integrating athlete databases, talent assessments and funding trails; alongside expansion of the Fit India Movement into remote, border and marginalised communities.

5. Exercise ROTOR CLAP III

Source: Times of India

Context

The Indian Air Force concluded its week-long counter-drone exercise, ROTOR CLAP III, on Sunday, 2 August 2026, at the Pokhran Field Firing Range, Jaisalmer district, Rajasthan.

What It Is

The third edition of a specialised rotary-wing (helicopter) counter-drone operational exercise conducted by the IAF, built around the theme "Counter-Unmanned Aerial Systems (Counter-UAS)" — testing and refining rotary-wing responses to drone threats.

Aim: to validate new operational concepts, test Tactics, Techniques and Procedures (TTPs), and enhance combat preparedness of the IAF's rotary-wing fleet against emerging, low-altitude unmanned aerial system threats in realistic desert combat conditions.

6. Project SARATHI

Source: PIB

Context

Union Health Minister J.P. Nadda chaired a high-level review meeting in New Delhi on 1 August 2026 to assess a nationwide expansion framework for Project SARATHI across central government hospitals and medical institutions.

What It Is

Project SARATHI — Students' Alliance for Responsible Action to Transform Healthcare Institutes — is a youth-led, volunteer-driven patient assistance initiative. It deploys trained student volunteers across public hospitals to provide non-clinical navigation, guidance and mobility assistance, humanising hospital environments and easing non-medical loads on clinical staff.

Aim: to improve patient experience in high-volume public hospitals through compassionate non-clinical support, while constructively engaging youth in civic duty, community service and healthcare empathy.

Related Framework

• MY Bharat (Mera Yuva Bharat) — an autonomous body launched on 31 October 2023 under the Ministry of Youth Affairs and Sports as a technology-driven youth development platform; the National Youth Corps pays volunteers a monthly honorarium.
• National Service Scheme (NSS), 1969 — the older student volunteering programme under the same ministry.
• ABHA — a 14-digit health account number under the Ayushman Bharat Digital Mission (2021), implemented by the National Health Authority.
• PGIMER Chandigarh — an Institute of National Importance established in 1962, under the Ministry of Health and Family Welfare.

Banking and Finance

1. Favara–UPI Cross-Border Payment Corridor

Source: TH

Context

The Maldives Monetary Authority (MMA) launched the Favara–UPI Cross-Border Payment Corridor, which went live on 30 July 2026, enabling real-time remittances from the Maldives to India.

What It Is

A real-time cross-border payment corridor integrating the Maldives' Favara Instant Payment System with India's Unified Payments Interface (UPI), enabling seamless person-to-person (P2P) fund transfers.

Aim: to facilitate secure, instant and low-cost cross-border digital payments, strengthen bilateral financial connectivity, and deepen economic cooperation.

Key Features

• Real-time P2P transfers: individuals in the Maldives send funds instantly, with transactions initiated in Maldivian Rufiyaa (MVR) and credited in Indian Rupees (INR) to UPI-enabled bank accounts in India.
• Initial banking partners: Bank of Maldives Plc and Maldives Islamic Bank Plc, through their existing mobile banking applications — no additional payment platform is required.
• Permitted remittance categories: family-maintenance remittances under both foreign inward and outward remittance provisions, and gift-related remittances permitted under the Maldives' foreign outward remittance framework.
• Institutional collaboration: the MMA, RBI, NPCI International Payments Limited (NIPL) and participating financial institutions.
• Origin: builds on an agreement signed between NIPL and the MMA in July 2025; full operational readiness was reached after an accelerated 10-day implementation covering system testing, certification, institutional onboarding and live transaction validation.
• Future expansion: upcoming phases will introduce QR-based merchant payments and additional cross-border digital payment services.

UPI is now accepted in nine countries — Cambodia, Singapore, the UAE, France, Mauritius, Nepal, Bhutan, Qatar and Sri Lanka — enabling Indian travellers to pay abroad through UPI.

2. Taxation and Other Laws (Amendment) Bill, 2026

Source: Business Standard

Context

Finance Minister Nirmala Sitharaman introduced the Bill in the Lok Sabha on 4 August 2026; it was passed on 6 August 2026 by voice vote without discussion, amid Opposition protests over the 20 July police action. It awaits Rajya Sabha approval. The Bill repeals and replaces the Income-tax (Amendment) Ordinance, 2026 (promulgated 5 June 2026) and amends three statutes: the Income-tax Act, 2025, the Finance Act, 2026, and the Payment and Settlement Systems Act, 2007.

Key Provisions

Agriculture

1. India's Gene-Edited Rice Varieties

Source: PIB

Context

One of India's two gene-edited rice varieties, Pusa DST Rice 1, is set to be planted in the coming rabi season for seed multiplication, with transplanting around November 2026. The Indian Council of Agricultural Research (ICAR) is expected to sign an MoU this month with US-based Corteva, which holds the licence for CRISPR-Cas9 technology.

About Gene-Edited Rice in India

What It Is?

• Genome editing (CRISPR-Cas) works like a molecular scalpel, allowing scientists to precisely cut and rewrite sections of a plant's DNA to develop traits such as higher yield, climate resilience or disease resistance — without introducing foreign genes.
• On 4 May 2025, Union Agriculture Minister Shivraj Singh Chouhan announced that ICAR scientists had, for the first time anywhere, developed two rice varieties using gene-editing technology.

Developing Institutions: ICAR–Indian Agricultural Research Institute (IARI), New Delhi, and ICAR–Indian Institute of Rice Research (IIRR), Hyderabad.

Aim: To develop climate-resilient, high-yielding rice varieties tolerant to drought, salinity and alkalinity, compressing varietal development from 8–10 years to 3–5, and to move India's genome-editing capability from laboratory research to farmers' fields.

The Two Varieties

Key Features

• Seed multiplication ready: IARI already holds about 2 tonnes of Pusa DST Rice 1 seed, sufficient to begin multiplication in the coming rabi season.
• Field-tested: validated in multilocation field trials during 2023 and 2024.

Facts To Remember

1. Ankur and Yashaswini Win Commonwealth Table Tennis Titles

Ankur Bhattacharjee and Yashaswini Ghorpade won the men’s and women’s singles titles respectively at the 22nd Commonwealth Table Tennis Championships in New Delhi, as India secured four of the five gold medals, including the women’s doubles and mixed doubles crowns.

2. Odisha Seeks UNESCO Tag for Puri Rath Yatra

The Odisha Government has sought UNESCO recognition for the Rath Yatra of the Shree Jagannath Temple in Puri by seeking its nomination to the list of Intangible Cultural Heritage of Humanity, highlighting the festival’s cultural and religious significance.

3. Justice M.S. Liberhan Passes Away at 87

Justice Manmohan Singh Liberhan, who headed the commission that investigated the circumstances surrounding the demolition of the Babri Mosque at Ayodhya, passed away at the age of 87 in Chandigarh.

4. Cabinet Approves Expanded Khelo India Scheme with ₹36,441 Crore Outlay

The Union Cabinet approved the expanded Khelo India Scheme and enhanced Assistance to National Sports Federations with a combined outlay of ₹36,441 crore for 2026–27 to 2030–31, introducing initiatives such as Khelo India Feeder Schools, Khelo India Utkrishta Vidyalayas and Emerging Khelo India Athletes.

5. Cabinet Approves ₹84,084 Crore Samudra Manthan Scheme

The Union Cabinet approved the ₹84,084 crore Samudra Manthan–National Offshore Exploration Scheme to boost offshore oil and gas exploration, strengthen India’s energy security, reduce import dependence and increase domestic oil and gas production.

6. Cabinet Approves ₹5,070 Crore PM-SSY for Floating Solar Projects

The Union Cabinet approved ₹5,070 crore under the Pradhan Mantri Surya Sarovar Yojana for developing 5,000 MW of floating solar capacity with energy storage systems, aiming to strengthen renewable energy generation and grid reliability.

7. Cabinet Extends PM-KISAN Scheme for Five Years

The Union Cabinet approved continuation of the PM-KISAN scheme for 2026–27 to 2030–31 with an outlay of ₹3.15 lakh crore, continuing annual financial assistance of ₹6,000 to eligible farmer families through three equal DBT instalments.

8. India Launches Sovereign-Backed P&I Insurance Product under BMIP

The Department of Financial Services launched India’s first sovereign-backed Protection & Indemnity insurance product under the Bharat Maritime Insurance Pool, providing third-party liability coverage of up to USD 1.5 billion for Indian shipping against maritime and war-related risks.

9. AYUSH Ministry and IndiaAI Sign MoU for AI-Driven Traditional Medicine

The Ministry of AYUSH and IndiaAI signed an MoU to promote AI-driven innovation in traditional medicine by enabling access to health research datasets, AI infrastructure and computing resources, while supporting research, digital health and capacity building.

10. UNESCO Adds Ancient Buddhist Site of Sarnath to World Heritage List

The 48th UNESCO World Heritage Committee session in Busan, South Korea, inscribed 25 new sites, including the Ancient Buddhist Site of Sarnath in Uttar Pradesh, taking the total number of UNESCO World Heritage Sites to 1,273 across 173 countries.

11. India-Maldives Launch Favara-UPI Cross-Border Payment Corridor

The Maldives Monetary Authority operationalised the integration of its Favara instant payment system with India’s UPI, enabling real-time cross-border transfers and strengthening digital payment connectivity between India and the Maldives.

12. Varsha Ashok Aglawe Becomes First Woman Director General of GSI

Varsha Ashok Aglawe assumed charge as the 54th Director General of the Geological Survey of India, becoming the first woman to head the organisation in its 176-year history, with focus areas including critical minerals, mineral security and offshore exploration.

13. Former COAS General Vishwa Nath Sharma Passes Away

Former Chief of Army Staff General Vishwa Nath Sharma passed away at the age of 91 in New Delhi, having served as the 14th Chief of Army Staff from May 1988 to June 1990 and receiving the AVSM and PVSM.

14. Franco Baresi Passes Away at 66

Italian football legend and former AC Milan captain Franco Baresi passed away at the age of 66 in Milan, having spent his entire club career with AC Milan and won six Serie A titles and three European Cup/UEFA Champions League titles.

15. Kailash Chandra Pant Passes Away at 90

Renowned Hindi writer and 2026 Padma Shri awardee Kailash Chandra Pant passed away at the age of 90 in Bhopal, having made significant contributions to Hindi literature, journalism and cultural activities.

16. World FinTech Day Observed on August 1

World FinTech Day was observed on August 1 to highlight the growing role of financial technology in modernising financial services, expanding financial inclusion and transforming the global financial industry.

17. World Wide Web Day Observed on August 1

World Wide Web Day was observed on August 1 to commemorate the development of the World Wide Web by Sir Tim Berners-Lee, who developed the first web server and browser in 1990 and launched the world’s first website in 1991.

18. Tamil Nadu Signs Four MoUs for GCCs and Foreign University Campus

The Tamil Nadu Government signed four MoUs to establish Global Capability Centres, R&D facilities and the University of Western Australia’s India campus in Chennai, with the projects expected to attract significant investments and generate nearly 2,920 employment opportunities.

Context Union Health Minister J.P. Nadda chaired a high-level review meeting in New Delhi on 1 August 2026 to assess a nationwide expansion framework for Project SARATHI across central government hospitals and medical institutions.

What It Is

• Project SARATHI — Students' Alliance for Responsible Action to Transform Healthcare Institutes — is a youth-led, volunteer-driven patient assistance initiative that deploys trained student volunteers across public hospitals to provide non-clinical navigation, guidance and mobility assistance, humanising hospital environments and easing non-medical loads on clinical staff.
• Nodal Ministry: Ministry of Health and Family Welfare (MoHFW).
• Platform Integration: Integrated with the MY Bharat (Mera Yuva Bharat) digital portal of the Ministry of Youth Affairs and Sports for volunteer registration, orientation, attendance tracking, performance monitoring and certification, and for ABHA ID creation.
• Aim: to improve the overall patient experience in high-volume public hospitals through compassionate non-clinical support, while constructively engaging youth in civic duty, community service and healthcare empathy.

Key Features

• Non-clinical patient support: volunteers assist patients and attendants with hospital layout navigation, wheelchair and stretcher mobility, OPD desk registration, and locating diagnostic laboratories.
• Strict guardrails on responsibilities: volunteers provide purely supportive services and undertake no clinical, medical or administrative duties — a safeguard explicitly discussed at the review, since the risk of role creep in understaffed hospitals is real.
• Integration with MY Bharat: onboarding, attendance logging, performance tracking and certification through the MoYAS platform.
• Digital health enablement: trained volunteers help visiting patients create Ayushman Bharat Health Account (ABHA) IDs and navigate digital health applications, speeding up registration queues.
• Low-cost, high-impact model: draws on local NSS units, nursing trainees and youth volunteers, offering a scalable framework to improve public hospital satisfaction.

Related Framework

• MY Bharat (Mera Yuva Bharat) — autonomous body launched 31 October 2023 under the Ministry of Youth Affairs and Sports; the National Youth Corps pays volunteers a monthly honorarium.
• National Service Scheme (NSS), 1969 — the older student volunteering programme under the same ministry.
• ABHA — a 14-digit health account number under the Ayushman Bharat Digital Mission (2021), implemented by the National Health Authority.
• PGIMER Chandigarh — an Institution of National Importance established in 1962, under the Ministry of Health and Family Welfare.

3. Nasha Mukt Yuva for Viksit Bharat Sankalp Abhiyan

Source: The Hindu

Context

Prime Minister Narendra Modi launched the Nasha Mukt Yuva for Viksit Bharat Sankalp Abhiyan through video conferencing — a nationwide campaign to build a drug-free youth population as the foundation of Viksit Bharat@2047.

What It Is

A nationwide mass awareness and behavioural change campaign to prevent drug abuse among youth through community participation (Jan Bhagidari), sustained public engagement and healthy lifestyle promotion.

Aim: to build a drug-free, physically and mentally healthy youth population able to contribute to the vision of Viksit Bharat by 2047.

Key Features

• 100-week national campaign — activities organised every Sunday across the country, rather than as a one-time observance.
• Mass community participation — supported by 125+ spiritual, educational, industrial and public organisations, covering 28,000+ locations nationwide.
• Youth-centric activities — sports events, walkathons, meditation sessions, cultural programmes, nukkad nataks, discussion forums, art competitions, yoga and community engagement.
• Public pledge movement — over one crore youth took a nationwide anti-drug pledge, committing both to personal sobriety and to spreading the message in schools, colleges and communities.
• Rehabilitation and social reintegration — encourages seeking professional help through rehabilitation centres and promotes giving recovering individuals a second chance.

4. Glaw Lake (Glow Lake) — India's 101st Ramsar Site

Source: News on Air

Context

Union Minister for Environment, Forest and Climate Change Bhupender Yadav announced the designation of Glaw Lake (also known as Glow Lake) in Arunachal Pradesh as India's 101st Ramsar Site — marking Arunachal Pradesh's very first Ramsar Site and taking India's tally of internationally protected wetlands past the 100 mark.

What It Is

A high-altitude, pristine, natural freshwater lake in the Eastern Himalayas, spread over an estimated 8 sq km at an elevation of about 1,168 metres above sea level, and a major source of the perennial Kamlang River.

Origin

• Hydrological: fed by multiple perennial high-altitude mountain streams flowing down from Eastern Himalayan glaciated ridges.
• Geomorphological: formed through natural tectonic activity and land-block warping typical of the Eastern Himalayan structural fold belt, creating a high-altitude depression that impounds alpine run-off.

Ecological Significance

• A biodiversity hotspot, surrounded by lush vegetation supporting rich floral diversity.
• Over 150 tree species and 49 orchid species recorded within the site and its catchment.
• Located in the Eastern Himalaya biodiversity hotspot, one of the world's most species-rich and least-explored regions.
• Its perennial feed to the Kamlang River makes it a water security asset for downstream communities.

Background: The Ramsar Convention

Exam Relevance

UPSC — Prelims (GS-III, Environment): Ramsar sites are among the most reliably tested current-affairs items. Retain: Glaw Lake — 101st Ramsar Site — Arunachal Pradesh's first — Lohit district — Kamlang Tiger Reserve — Kamlang River. Also fix the standing facts: Convention signed 1971 at Ramsar, Iran; India acceded 1982 with Chilika and Keoladeo; Montreux Record entries — Keoladeo and Loktak; Wetland City Accreditation — Indore and Udaipur; World Wetlands Day 2 February. Note the adjacency of Namdapha National Park, itself a frequently asked site. Mains (GS-III): usable in answers on wetland conservation and ecosystem services, on the gap between international designation and domestic legal protection, and on community-based conservation — the Mishmi territories here illustrate why "wise use" rather than exclusionary protection is the Ramsar approach.

NABARD Grade A — Moderate relevance for Phase I General Awareness and the environment component of Phase II. Retain the site name, state, district and India's tally. Wetlands connect to NABARD's watershed development and natural resource management work, and the ecosystem services framing — groundwater recharge, flood moderation, fisheries livelihoods — is the useful angle.

5. The e-Pratyaropan Digital Platform

Source: BS

Context

During the 16th Indian Organ Donation Day (IODD) event in New Delhi, Union Minister of State for Health and Family Welfare Anupriya Patel unveiled the e-Pratyaropan Digital Platform, along with the NOTTO Mobile App and the "Angdaan Karo, Jug Jug Jiyo" year-long national awareness campaign.

What It Is

An integrated, national-level unified digital platform to digitise and streamline India's organ donation and transplantation ecosystem — a central interface connecting hospitals, transplant surgeons, organ donors, waiting-list recipients and regulatory bodies into a single technology-enabled framework.

Aim: to establish a transparent, fair and efficient organ donation framework that eliminates manual delays, prevents malpractice, maintains real-time organ registries, and speeds up matching and allocation.

Key Features

• Unified national registry and waitlist management — real-time digital databases for transplant waiting lists, deceased and living donors, tissue banks and donation pledges. Waiting lists are generated automatically at hospital, state, regional and national levels from data uploaded by transplant centres.
• Automated and transparent allocation — protocol-based algorithms aligned with THOTA (Transplantation of Human Organs and Tissues Act) guidelines, allocating retrieved organs strictly on medical priority, geography and urgency, eliminating discretionary bias.
• Hospital and stakeholder integration — registered hospitals, ROTTOs and SOTTOs log transplant procedures, organ retrieval alerts and recipient updates within mandatory timeframes (e.g. 48 hours post-procedure).
• Digital identity verification — integrates mobile and digital ID platforms for pledges and issues authentic digital pledge certificates.
• Real-time organ tracking — interoperable with the NOTTO Mobile App to monitor movement of retrieved organs along green corridors and transport routes.

6. UNESCO Tag for Puri Rath Yatra

Source: The Hindu

Context

The Odisha Chief Minister urged the Centre to nominate Puri's Shree Jagannath Rath Yatra for inclusion in UNESCO's Representative List of the Intangible Cultural Heritage of Humanity.

Origin and Antiquity

• Puranic and historical roots: textual descriptions appear in the Brahma Purana, Padma Purana, Skanda Purana and Kapila Samhita.
• European accounts: documented by European travellers since the 13th century, with detailed accounts from the 17th century onward.
• Annual occurrence: during the bright fortnight (Shukla Paksha) of the lunar month of Ashadha (June–July).

Key Features

Annual reconstruction of chariots. Three massive, distinct wooden chariots are newly built every year:

• Built from specific timber types — Phassi and Dhausa — traditionally brought from the ex-princely state of Dasapalla along the Mahanadi River.
• Hereditary artisan guilds. Construction follows ancient architectural canons (Shilpa Shastras), executed by hereditary teams of carpenters (Maharanas), blacksmiths, painters and tailors.
• The divine procession. The deities are brought out of the 12th-century Jagannath Temple in the grand Pahandi Bije procession and placed on chariots aligned on the Bada Danda (Grand Avenue), where millions of devotees pull them to the Gundicha Temple.

Exam Relevance

UPSC — Prelims (GS-I, Art and Culture): the three chariots and their deities, the Ashadha timing, Gundicha and Mausi Maa temples, and — most importantly — the distinction between the 2003 ICH Convention and the 1972 World Heritage Convention, with India's inscribed ICH elements. UPSC has asked directly about ICH elements before. Mains (GS-I): usable on cultural heritage as a resource for diplomacy and livelihoods, and on the argument that intangible heritage safeguarding protects craft communities and skills — the Maharana carpenters, weavers and painters — rather than merely a festival.

Banking and Finance

1. Taxation and Other Laws (Amendment) Bill, 2026

Source: BS

Context

Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026, replacing the Income-tax (Amendment) Ordinance, 2026 and amending the Income-tax Act, 2025, the Finance Act, 2026, and the Payment and Settlement Systems Act, 2007. The Bill seeks to attract foreign investment, promote Make in India, enhance ease of doing business, and strengthen India's digital and financial ecosystem.

What It Is

An omnibus amending Bill introduced by Finance Minister Nirmala Sitharaman, using targeted tax exemptions to onshore four value chains — electronics manufacturing, diamond trading, cloud computing and fund management — while creating enabling power over charges on digital payments. The Lok Sabha passed it; the Rajya Sabha returned it, the procedure applicable to a Money Bill under Article 109.

Key Provisions

The Tax Rates Displaced

Before the exemption, income of FIIs from government securities was taxed at:

The exemption applies to income arising on or after 1 April 2026.

The UPI / MDR Question

• What the Bill does: creates the legal power for the Centre to permit charges. It does not itself impose any charge.
• The existing bar: banks and payment system providers are currently prohibited from levying any charge, directly or indirectly, on notified electronic payment modes, operating through Section 269SU of the Income-tax Act read with the PSS Act.

Exam Relevance

RBI Grade B — Highest-value item for Phase II Paper III. Master the MDR debate end to end: what MDR is, why it was zeroed, the sustainability problem for acquirers and PSPs, budgetary incentives as the current substitute, and the tiered-MDR proposal. Also note the FII exemption on G-secs for bond market development and global index inclusion, the fund manager provision for GIFT City and onshoring financial services, and REITs/InvITs for infrastructure financing.

2. RBI Monetary Policy — August 2026

Source: The Hindu

Context

The Monetary Policy Committee voted unanimously on 5 August 2026 to keep the policy repo rate under the Liquidity Adjustment Facility unchanged at 5.25%, after assessing evolving macroeconomic and financial developments.

The Decision

Background Concepts

Liquidity Adjustment Facility (LAF) — the RBI's principal instrument for managing day-to-day liquidity in the banking system, operating through a corridor of rates:

The corridor is symmetric — 25 basis points on either side of the repo rate. Its width signals how tightly the RBI wants to anchor overnight money market rates; a narrower corridor means tighter control.

Policy stance — the forward guidance signal, distinct from the rate itself:

• Accommodative — bias toward easing, supporting growth.
• Neutral — no directional bias; the MPC may move either way as data evolves.
• Withdrawal of accommodation / Tightening — bias toward raising rates or draining liquidity.

Practice MCQs

Q1. With reference to the Monetary Policy Committee decision of August 2026, consider the following statements:

1. The Committee unanimously decided to keep the policy repo rate unchanged at 5.25 per cent.
2. It decided to continue with the neutral policy stance.
3. The Standing Deposit Facility rate stood at 5 per cent, while the Marginal Standing Facility rate and the Bank Rate stood at 5.5 per cent.
4. The policy repo rate is fixed under the Liquidity Adjustment Facility.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to the liquidity adjustment facility corridor, consider the following statements:

1. The Standing Deposit Facility rate forms the floor of the corridor.
2. Under the Standing Deposit Facility, banks park surplus funds with the Reserve Bank without providing collateral.
3. The Marginal Standing Facility rate forms the ceiling of the corridor.
4. The repo rate is the rate at which the Reserve Bank lends to banks against government securities.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (d) — All four are correct. The unanimity of the vote and the retention of the neutral stance indicate that the pause reflected shared judgement rather than a divided committee.
2. (d) — All four are correct. The key distinction is collateral: the SDF is uncollateralised, whereas the repo and MSF involve government securities — the MSF specifically allowing banks to dip into their SLR holdings.

Exam Relevance

RBI Grade B — Highest-priority current-affairs item. Expect direct questions on the August 2026 numbers and descriptive questions on monetary policy transmission, the neutral stance and managing external shocks. Master the statutory scaffolding: Section 45ZB (constitution), 45ZA (target), 45ZN (failure report), and the corridor mechanics. The strongest analytical themes are (i) why monetary policy is a blunt instrument against supply shocks; (ii) the rupee–capital flows–US yields channel; and (iii) the "neither dovish nor hawkish" framing as an articulation of what a neutral stance means in practice.

3. RBI to Resume Licensing of Urban Cooperative Banks

Source: The Hindu

Context

Announced alongside the August 2026 monetary policy, the RBI will resume licensing of Urban Cooperative Banks (UCBs) on an "on tap" basis after a pause of more than two decades, as part of developing a vibrant cooperative sector. Governor Sanjay Malhotra said draft guidelines would be issued shortly for stakeholder consultation.

What It Is

Three developmental and regulatory measures announced alongside the monetary policy:

1. On-tap licensing of UCBs

• A discussion paper on Licensing of UCBs was published on 13 January 2026 for stakeholder feedback; the decision follows that feedback.
• There are 1,457 urban cooperative banks as per RBI and NABARD.
• Fresh UCB licensing had been paused since 2004, following governance failures and bank collapses in the sector.
• "On tap" means the application window stays continuously open — applicants may apply at any time rather than only in specific rounds. The RBI already follows this for universal banks and small finance banks.

Indicative eligibility criteria proposed in the draft for credit cooperative societies seeking conversion:

Multi-state societies will be considered first; select uni-state societies with a wider footprint may follow. No member may hold more than 5% of share capital; directors may not hold executive positions. Applications will be made through the RBI's PRAVAAH portal; in-principle approval is valid for 18 months.

2. Review of concentration risk norms for RCBs

• Currently governed by the Credit Monitoring Arrangement (CMA) instructions of 2008.
• The banking sector generally, and cooperative banking in particular, have expanded and changed significantly over 18 years, requiring a fresh look at prudential norms.
• Objective: develop a vibrant cooperative sector while addressing prudential concerns arising from concentrated lending.
• Draft amendment directions to be issued for wider consultation.

Background: Cooperative Banking Structure

• Dual regulation: the RBI regulates banking functions under the Banking Regulation Act, 1949; incorporation, management and audit rest with the Registrar of Cooperative Societies (State) or the Central Registrar (multi-state).
• The Banking Regulation (Amendment) Act, 2020 expanded RBI powers over cooperative banks after the PMC Bank crisis.
• DICGC deposit insurance of ₹5 lakh per depositor per bank covers cooperative banks.
• NABARD supervises State Cooperative Banks and District Central Cooperative Banks.

Exam Relevance

NABARD Grade A — Very high relevance. NABARD supervises State Cooperative Banks and District Central Cooperative Banks, and the review of concentration risk norms for RCBs falls squarely in its domain. Know the CMA instructions of 2008, the rural cooperative structure, PACS computerisation, and NABARD's refinance role. Expect direct questions on the UCB count (1,457) and on the RCB concentration-risk review.

RBI Grade B — Highest-priority item alongside the policy decision itself.

Agriculture

1. Framework for Fertilizer Sale (FFS)

Source: Business Standard

Context

A new digital platform for transparent and farmer-centric fertiliser distribution has been implemented on a pilot basis in 56 districts across 23 states, Minister of State for Chemicals and Fertilisers Anupriya Patel informed the Rajya Sabha on 4 August 2026 in a written reply. The pilot has expanded rapidly — it covered 40 districts across 20 states as of late July 2026.

What It Is

The "Framework for Fertilizer Sale" (FFS) is jointly developed by the Ministry of Chemicals and Fertilisers (Department of Fertilizers) and the Ministry of Agriculture and Farmers Welfare, with the consent of state governments, and rolled out in a staggered pilot manner.

Objective to make fertiliser distribution more transparent, organised, farmer-centric, land- and crop-data integrated, and demand-driven.

How It Works

1. Registration — the farmer or an authorised representative registers through a mobile application, entering land and crop details.
2. Pre-booking — advance booking of fertiliser requirements against those details.
3. Token generation — a QR code-based token is generated on successful booking.
4. Retail verification — the retailer scans the QR code through a Point of Sale (PoS) machine.
5. Distribution — fertiliser is released after Aadhaar-based biometric authentication, per existing procedure.

Supporting Digital Infrastructure

• Integrated Fertilizer Management System (iFMS) — an online platform for real-time monitoring and management of fertiliser movement across the country, tracking dispatches, allocation, rake placement, stock position and state-wise supply status by states and stakeholders. FFS purchase reports feed into iFMS dashboards.
• AgriStack / Farmer Registry — a registry of about 102.8 million (10.28 crore) farmer IDs is being integrated with PM-KISAN, the Jan Samarth platform for Kisan Credit Card loans, and MSP-based crop procurement systems.

Exam Relevance

NABARD Grade A — Very high relevance for Phase II Paper II. Know the DBT mechanics, the 2025-26 figures (746.57 LMT, 8.4 crore farmers, 2.87 lakh retailers, ₹2.17 lakh crore subsidy), the 50-bag limit and state variations, and AgriStack's three registries (farmer registry, geo-referenced village maps, crop-sown registry). The Jan Samarth–KCC linkage is directly relevant to NABARD's credit mandate, as is the exclusion risk for tenant farmers — connect to Joint Liability Groups as the standard workaround for landless cultivators.

2. BIOFACH INDIA 2026

Source: PIB

Context

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce & Industry, in collaboration with Nuernberg Messe India, is organising BIOFACH INDIA 2026 from 6–8 August 2026 at the India Expo Centre & Mart, Greater Noida, Delhi-NCR — a platform for trade, knowledge exchange and business networking across the organic, natural and sustainable food sectors.

Key Features

• 200+ exhibitors, including 60+ under APEDA Pavilion — exporters, women entrepreneurs, FPOs/FPCs, startups and organic enterprises.
• Organic products: cereals, pulses, millets, spices, tea, coffee, fruits, vegetables, processed foods, medicinal plants, honey, edible oils and nutraceuticals.
• 35+ international buyers from 13 countries, including Taiwan, Japan, South Korea, Australia and Egypt, through Buyer-Seller Meets.
• Technical sessions on organic certification, traceability, sustainability, market access and international quality standards.

About APEDA

• Established under the Agricultural and Processed Food Products Export Development Authority Act, 1985, functioning under the Ministry of Commerce & Industry; headquartered in New Delhi.
• Mandated to develop and promote exports of scheduled products — fruits and vegetables, meat and poultry, dairy, confectionery, cereals, floriculture, herbal and medicinal plants, and organic products.
• Note: basmati rice is under APEDA; spices are handled by the Spices Board, tea by the Tea Board, coffee by the Coffee Board, and marine products by MPEDA.
• APEDA is the National Accreditation Body under the National Programme for Organic Production (NPOP).

Background: India's Organic Ecosystem

Certification systems

• Supporting schemes: the Paramparagat Krishi Vikas Yojana (PKVY) and the Mission Organic Value Chain Development for North Eastern Region (MOVCDNER) — the latter explaining the strong North-East presence at the event, and why the DoNER Secretary was Chief Guest.
• India's position: the country has the largest number of organic producers in the world, though a relatively modest share of global organic area. Sikkim is the world's first fully organic State (2016). Major organic exports include organic soybean, rice, oilseeds, cereals, millets, medicinal plants, tea, spices and processed foods, with the United States and European Union as principal destinations.
• IFOAM – Organics International is the global umbrella body for the organic movement, founded in 1972 and headquartered in Bonn, Germany.

Facts To Remember

1. Tata Sons Continues as Upper-Layer NBFC

RBI Governor Sanjay Malhotra indicated that Tata Sons, the holding company of the Tata Group, will continue to be classified as an Upper-Layer NBFC under RBI’s principle-based regulatory framework.

2. DSC A24 Launched as India’s Fifth Diving Support Craft

The Indian Navy launched DSC A24, the fifth and final Diving Support Craft, at Titagarh, Kolkata. Built by Titagarh Rail Systems Limited, the catamaran-hulled vessel has around 70% indigenous content and will support diving, salvage and coastal operations.

3. PM Modi Inaugurates Development Projects Worth ₹17,900 Crore in Andhra Pradesh

Prime Minister Narendra Modi visited Andhra Pradesh and Karnataka on 1 August 2026. In Andhra Pradesh, he inaugurated and launched projects worth over ₹17,900 crore covering aviation, semiconductors, renewable energy, power transmission, roads and youth development.

4. CCI Launches ‘Kapas Darshan’ Bulletin on 56th Foundation Day

Union Minister Giriraj Singh launched the Kapas Darshan Bulletin during the 56th Foundation Day of the Cotton Corporation of India. The event also highlighted the ₹5,659-crore Cotton Productivity Mission–Kapas Kanti and saw the signing of four MoUs to improve cotton quality, traceability and market access.

5. REC and PFC Sign ₹26,850 Crore Loan Agreement for Meja Power Project

REC Limited and Power Finance Corporation signed a ₹26,850-crore common loan agreement with Meja Urja Nigam for the expansion of the Meja Thermal Power Project in Uttar Pradesh. The project will add 2,400 MW through three 800-MW ultra-supercritical units.

6. SEBI Extends Digital Accessibility Audit Deadline to October 2026

SEBI extended the deadline for regulated entities to complete digital accessibility audits and remediation to 31 October 2026. It also introduced the GARUDA framework to streamline the processing of Alternative Investment Fund placement memorandums.

7. SBI Research Projects Around 7% GDP Growth in Q1 FY27

SBI Research projected India’s GDP growth at around 7% in Q1 FY27, above the RBI’s 6.6% projection. The estimate was supported by stronger vehicle sales, electricity demand, exports and industrial activity.

8. Gujarat’s Pithora Painting Receives GI Tag

The Geographical Indications Registry granted a GI tag to Gujarat’s traditional Pithora Painting, associated with the Rathwa, Bhil, Bhilala and Nayaka communities. The tribal art form traditionally uses natural colours and features horses representing gods, ancestors and nature.

9. K. Rajaraman’s Tenure as IFSCA Chairman Extended Till 2028

The Government extended K. Rajaraman’s tenure as Chairperson of the International Financial Services Centres Authority until 24 October 2028. He is a retired 1989-batch IAS officer and became IFSCA’s first full-time Chairperson in 2023.

10. Vice Admiral AN Pramod Assumes Charge as Deputy Chief of Naval Staff

Vice Admiral AN Pramod assumed charge as Deputy Chief of Naval Staff, succeeding Vice Admiral Tarun Sobti. A communication and electronic warfare specialist, he previously served as Director General Naval Operations and received the AVSM and YSM.

11. Indian Navy Launches DSC A24, Fifth and Final Diving Support Craft

The Indian Navy launched DSC A24, the fifth and final vessel under the Diving Support Craft project at Titagarh, Kolkata. The indigenously built vessel features a twin-hull catamaran design, approximately 300–400 tonnes displacement and around 70% indigenous content.

12. New Catfish Species ‘Pseudolaguvia khairii’ Discovered in Odisha

A new freshwater catfish species, Pseudolaguvia khairii, was discovered in the Budhabalanga River of Odisha’s Mayurbhanj district. It was named after Khairi, the famous Royal Bengal tigress of Similipal Tiger Reserve.

13. India Finishes Fourth at 2026 Commonwealth Games with 39 Medals

India finished fourth at the 2026 Commonwealth Games in Glasgow with 39 medals, including 13 gold, 17 silver and 9 bronze. Australia topped the medal table with 171 medals, followed by England and Canada.

14. Nirmal Purja Dies in Avalanche on Broad Peak

Renowned Nepali-British mountaineer Nirmal Purja died in an avalanche on Broad Peak in Pakistan. He was famous for completing all 14 eight-thousanders in 6 months and 6 days under Project Possible 14/7 in 2019.

15. Indian Organ Donation Day Observed on August 3

Indian Organ Donation Day was observed on 3 August to raise awareness about organ and tissue donation. In 2026, the government launched the ‘Jug Jug Jiyo’ campaign, e-Pratyaropan platform and NOTTO mobile application.

16. World Breastfeeding Week 2026 Observed from August 1–7

World Breastfeeding Week was observed from 1–7 August 2026 to promote breastfeeding and support systems for mothers. The 2026 theme was “Breastfeeding for a sustainable start in life: strengthen what works.”

17. Andhra Pradesh and Australia Sign Four MoUs

Andhra Pradesh and Australia signed four MoUs to strengthen cooperation in clean energy, advanced manufacturing, inclusive education, student mental health and skill development. The agreements include a partnership to establish a Centre of Excellence for Solar Manufacturing at IIT Tirupati.

Got it. Starting from Sl. No. 1 and keeping exactly the concise format you want:

18. Cabinet Approves GOBARdhan Scheme with ₹23,731 Crore Outlay

The Union Cabinet approved the GOBARdhan – National Circular Bioenergy Scheme with a total outlay of ₹23,731 crore. The scheme aims to promote clean energy, strengthen the rural economy and create around 1.5 lakh jobs through the conversion of organic waste into bioenergy.

19. India Successfully Test-Fires Agni-4 Ballistic Missile

India successfully test-fired the Agni-4 medium-range ballistic missile from the Integrated Test Range at Chandipur, Odisha. The Defence Ministry stated that the launch successfully validated the missile’s operational and technical parameters, strengthening India’s strategic defence capabilities.

20. Lok Sabha Passes Bankers’ Books Evidence Bill, 2026

The Lok Sabha passed the Bankers’ Books Evidence Bill, 2026, which seeks to modernise the legal framework governing evidence related to bankers’ books. The Bill provides for the recognition and use of electronic and digital records of banking transactions as evidence.

21. India Launches Clouded Leopard Conservation Action Plan

On International Clouded Leopard Day, India launched a dedicated Clouded Leopard Conservation Action Plan to strengthen the protection of this elusive wild cat. The initiative focuses on habitat conservation, scientific monitoring and coordinated efforts to protect clouded leopard populations.

22. 4th Tri-Services Future Warfare Course Begins in New Delhi

The 4th edition of the Tri-Services Future Warfare Course commenced in New Delhi under the Headquarters Integrated Defence Staff. The four-week course brings together officers from the three armed forces to develop a deeper understanding of future warfare, emerging technologies and joint military operations.

23. India Wins 39 Medals at Glasgow Commonwealth Games 2026

India finished the 2026 Commonwealth Games with 39 medals, including 13 gold, 17 silver and 9 bronze, securing fourth position in the overall medal tally. Glasgow also formally handed over the Commonwealth Games baton to India, which will host the 2030 edition in Ahmedabad.

24. SBI Research Projects Around 7% GDP Growth in Q1 FY27

SBI Research projected that India’s economy could grow by around 7% in Q1 FY27, supported by stronger high-frequency indicators, improved industrial activity and a recovery in exports. The estimate is higher than the RBI’s earlier 6.6% projection for the quarter.

25. Air Marshal Tejpal Singh Takes Charge as Deputy Chief of Air Staff

Air Marshal Tejpal Singh assumed charge as the Deputy Chief of the Air Staff (DCAS) of the Indian Air Force. His appointment comes as part of the IAF’s senior leadership transition and strengthening of its operational and strategic capabilities.

26. Army Chief Launches Indigenous Xtreme Weather Grade Diesel

Chief of Army Staff General Dhiraj Seth launched indigenously developed Xtreme Weather Grade (XWG) Diesel in New Delhi. Developed jointly by the Indian Army and oil marketing companies, the specialised fuel is designed to improve the mobility, safety and operational readiness of military vehicles in extreme weather conditions.

Context

NITI Aayog released a report titled "Reimagining Care: Strategies for Empowering Caregivers in Viksit Bharat@2047."

Who Are Caregivers

Per the WHO definition adopted in the report, caregivers are individuals who provide physical, emotional and social support to people who cannot independently perform activities of daily living due to age, chronic illness or disability.

The Indian Landscape

The demographic point: India's elderly share doubles from about 10% to 21% within a single generation. Countries that aged at this pace — Japan, China — did so at far higher per capita income. India will face a large long-term care burden before it becomes rich enough to fund it institutionally.

Types of Caregivers in India

• Family-based informal caregivers — relatives providing unpaid assistance within households; traditionally the backbone of India's social fabric.
• Community-based informal caregivers — local volunteers, extended kin and Self-Help Groups, such as Kudumbashree's K4 Care and Kerala's Neighbourhood Network in Palliative Care.
• Institutional formal caregivers — trained staff in old-age homes, rehabilitation centres and hospital geriatric wards.
• Home-based and specialised palliative caregivers — paid professionals providing bedside assistance, dementia support and chronic illness management at the patient's residence.

2. Vehicle-to-Vehicle (V2V) Technology

Source: Business Standard

Context The Ministry of Road Transport and Highways (MoRTH) issued a draft notification proposing amendments to the Central Motor Vehicles Rules, 1989, to introduce Vehicle-to-Vehicle communication technology in Indian vehicles.

What It Is

• An advanced wireless communication framework enabling nearby motor vehicles to continuously broadcast and receive real-time data on speed, location, direction, acceleration and braking status.
• Unlike traditional sensors — cameras and radar — which require a direct line of sight, V2V enables proactive accident prevention by warning drivers about hazards beyond their visual range.
• Aim: to reduce road fatalities and accidents by complementing existing Advanced Driver Assistance Systems (ADAS), expanding situational awareness, and building a foundation for broader Intelligent Transportation Systems (ITS).

How It Works

• On-Board Units (OBUs): factory-fitted units continuously transmit low-latency data packets containing GPS coordinates, velocity, trajectory and status alerts.
• Peer-to-peer data mesh: transmissions occur directly between nearby vehicles within a range of several hundred metres, without relying on cellular towers or cloud servers.
• Real-time risk computation: an onboard processor analyses received data against the host vehicle's own vector, calculating collision risk within milliseconds and triggering visual, audio or haptic warnings before the hazard is visible.

3. The Clouded Leopard

Source: News on Air

Context On International Clouded Leopard Day (observed 4 August), the Ministry of Environment, Forest and Climate Change launched the Clouded Leopard Conservation Action Plan (CAP).

About the Conservation Action Plan

• A comprehensive, multi-state strategic framework to secure habitats, restore ecological corridors, standardise population assessments, and empower local communities for the species' long-term survival in India.
• Aim: to halt population decline, protect critical forest landscapes across Northeast India, establish reliable population baselines through advanced science, and mitigate human-wildlife conflict outside formal protected areas.

About the Species

The Clouded Leopard (Neofelis nebulosa) is an evolutionarily ancient, medium-sized wild cat bridging the gap between big cats (Panthera) and small cats (Felinae). Molecular research suggests it branched from the Pantherinae lineage over 6 million years ago, making it one of the most ancient living feline species.

Distribution and habitat

• Found from Nepal, Bhutan, Bangladesh and Northeast India through Southeast Asia (Indochina, Sumatra, Borneo) to southern China.
• Prefers lowland dense tropical rainforest, but adapts to dry woodlands, mangrove swamps (in Borneo), and Himalayan foothill forests up to 2,743 metres.

Conservation and legal status

4. India at the Commonwealth Games 2026

Context India concluded its Commonwealth Games 2026 campaign in Glasgow, Scotland, with a tally of 39 medals, finishing fourth overall.

About the Games

India's Medal Tally

Sport-wise breakdown

Note: some circulating tables give Para Athletics 2 golds and Athletics 7 silvers — the correct figures are Para Athletics 3 golds and Athletics 5 silvers and 5 bronzes.

India's Gold Medallists

Records and Context

• Boxing delivered a record 10 medals including seven golds — the most won by any nation in the sport at a single Commonwealth Games.
• India recorded its best-ever judo performance at a single Games — three medals including its first-ever judo gold.
• Lovlina Borgohain, the Olympic medallist, added silver in the women's 75 kg boxing category.

5. GOBARdhan — National Circular Bioenergy Scheme

Source: PIB

Context The Union Cabinet approved the National Circular Bioenergy Scheme – GOBARdhan, with an outlay of ₹23,731 crore, to catalyse the growth of compressed biogas (CBG).

What It Is

GOBARdhan — Galvanising Organic Bio-Agro Resources Dhan — a scheme to raise domestic CBG production almost tenfold through assured offtake, administered pricing, capital subsidies, pipeline infrastructure and easier access to finance.

Origin: GOBARdhan was originally launched under the Swachh Bharat Mission (Grameen) in 2018 as a solid and liquid waste management component. It has now been recast as a national clean-energy and circular-economy programme.

Objective

• Convert cattle dung, agricultural residues and other organic waste into Compressed Biogas (CBG) and organic manure.
• Increase domestic CBG production by nearly 10 times.
• Reduce dependence on imported natural gas and strengthen energy security.
• Promote waste-to-wealth and a circular bioeconomy.
• Mobilise large-scale private investment and generate rural employment.

The Six Growth Engines

1. Assured CBG offtake — procurement by City Gas Distribution entities.
2. Stable, administered CBG pricing.
3. Capital assistance for plants.
4. Pipeline infrastructure development.
5. Credit guarantee support.
6. CBG Ecosystem Challenge Fund.

Banking and Finance

1. The Closing Auction Session (CAS)

Source: Times of India

Context The Closing Auction Session was introduced by Indian stock exchanges for cash market stocks with derivatives, following SEBI's directive of 16 January 2026. It became effective from 3 August 2026, launched simultaneously by the NSE and BSE.

What It Is

• A dedicated 20-minute daily auction mechanism in the cash market segment for equity stocks on which derivative (F&O) contracts are available. Instead of computing closing prices through continuous trade averages, CAS aggregates buy and sell orders to discover a single, fair equilibrium closing price.
• Aim: to curb end-of-day price manipulation, improve price discovery, align Indian equity markets with global best practices, and deliver more accurate benchmark values for mutual funds, ETFs and derivatives settlement.

How It Works

2. Licensing of Urban Cooperative Banks

Source: BS

Context

The Reserve Bank of India (RBI) is set to resume licensing of urban cooperative banks (UCBs), after a pause of more than two decades, as part of developing a vibrant co-operative sector.

The Legal Basis

Licensing of UCBs is the regulatory authorisation granted by the RBI under Section 22 read with Section 56 of the Banking Regulation Act, 1949. It empowers primary cooperative credit societies to conduct banking — accepting public deposits and granting credit — in urban and semi-urban areas.

Section 56 is the provision that applies the Banking Regulation Act to cooperative societies with modifications.

Regulatory Timeline

Why Licensing Was Halted in 2004

• Widespread insolvency: nearly 31% of UCBs licensed during the 1990s liberalisation turned financially unsound within a short period, owing to poor credit appraisal and rapid unviable expansion.
• Governance failures and frauds: the Madhavpura Mercantile Cooperative Bank crisis (2001) — linked to the Ketan Parekh stock scam — exposed severe corporate governance deficits, conflict of interest and insider lending.
• Dual regulation gaps: banking operations were supervised by the RBI while administrative and managerial oversight rested with State Registrars of Cooperative Societies, creating enforcement delays and supervisory loopholes.

Why a Restart Is Now Feasible

• Strengthened statutory powers: the Banking Regulation (Amendment) Act, 2020 gave the RBI direct powers over UCB management, board constitution and resolution — effectively closing the dual-regulation loophole.
• Four-tier prudential framework: deposit-based tiered regulatory standards (Tiers 1 to 4) in force since December 2022, ensuring calibrated risk oversight.
• Improved sector balance sheets: gross NPAs of UCBs fell to a six-year low of ₹21,769 crore in FY26, with higher provisioning coverage ratios and capital buffers.
• Institutional backing: the National Urban Cooperative Finance and Development Corporation (NUCFDC), established in 2024, offers shared technology platforms, liquidity support and capital mobilisation for UCBs.

Practice MCQs

Q1. With reference to the licensing of Urban Cooperative Banks, consider the following statements:

a. Licensing is granted under Section 22 read with Section 56 of the Banking Regulation Act, 1949.
b. UCBs were brought under the RBI's regulatory ambit in 1966.
c. Over 820 new UCB licences were issued between 1993 and 2001.
d. The RBI suspended fresh UCB licensing in 2004.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (d) — All four are correct. Section 56 is the key provision — it applies the Banking Regulation Act to cooperative societies with modifications.

Exam Relevance

RBI Grade B — Very high relevance. Master the four-tier framework (Tier 1: deposits up to ₹100 crore; Tier 2: ₹100–1,000 crore; Tier 3: ₹1,000–10,000 crore; Tier 4: above ₹10,000 crore), the 2020 Amendment's specific powers, NUCFDC's role, and the Madhavpura episode as the reference failure.

3. The Bankers' Books Evidence Bill, 2026

Source: The Hindu

Context The Lok Sabha passed the Bankers' Books Evidence Bill, 2026 by voice vote amid Opposition protests. Introduced by the Finance Minister on 3 August 2026, it replaces the 135-year-old colonial-era Bankers' Books Evidence Act, 1891, aligning legal evidence standards with modern digital, virtual and cloud-based banking.

What It Is

• A framework regulating how bank records are admitted as valid evidence in legal proceedings. It allows certified physical and electronic extracts of bank records to be presented in court without requiring original ledgers or summoning bank officials as routine witnesses.
• Aim: to modernise India's banking evidence law, incorporate technology-neutral provisions for digital records, speed up judicial proceedings in financial disputes, and reduce operational burdens on banking personnel.

Key Features

• Expanded definition of "bankers' books" — broadened beyond paper ledgers to cover all record formats, including electronic, digital, virtual and cloud-based databases.
• Admissibility and integrity conditions for electronic records — enforceable provided they:
  • are a true representation of the data,
  • show no unauthorised data changes, and
  • reflect no system tampering.
• Standardised digital certification — electronic records submitted to courts must carry a technical certificate detailing the generating computer system, authenticated by manual or digital signatures of designated branch or office heads.
• Protection against compulsory court attendance — bank officers cannot be compelled to produce original books or appear as witnesses where the bank is not a party, unless ordered by a judge for a strictly defined special cause.
• Power to extend coverage — empowers the Central Government to extend the Act to other financial sector institutions by notification.

3. RBI's Draft Framework on Credit Valuation Adjustment Risk

Source: Business Standard

Context The Reserve Bank of India has proposed a revised framework governing how commercial banks must set aside capital against the risk of losses on their derivative trades, replacing rules in place since 2011. Comments have been invited until 28 August, with the rules proposed to take effect from 1 April 2027.

Applicability: all commercial banks, excluding small finance banks, payments banks and local area banks.

What CVA Is

Credit Valuation Adjustment (CVA) is an adjustment banks make to the price of a derivative contract to account for the possibility that the counterparty on the other side of the trade could default. The capital charge ensures banks set aside enough capital to cover such potential losses.

In simple terms: if a bank enters a ten-year interest rate swap with a corporate, the swap may be worth money to the bank — but only if the corporate is still solvent when payment falls due. CVA is the value the bank subtracts to reflect that risk, and the CVA capital charge is the buffer held against the risk that this adjustment itself moves adversely as the counterparty's credit quality deteriorates.

Why the Change

• The existing framework was based on Basel Committee on Banking Supervision (BCBS) standards issued in 2010.
• The BCBS has since revised its guidelines as part of the final Basel III framework, prompting the RBI to update its rules to align with global standards.

The Proposed Approach

Banks must use the Basic Approach for CVA (BA-CVA), with a choice between two versions:

The Simplified Treatment for Smaller Books

• Banks whose aggregate notional amount of non-centrally cleared derivatives is ₹10 trillion or less may skip the BA-CVA computation altogether.
• Instead, they may set their CVA capital requirement equal to 100% of their capital requirement for counterparty credit risk.
• Such banks cannot recognise any CVA hedges under this simpler treatment.
• The RBI's supervisory arm can deny a bank this option if it finds the bank's CVA risk material to its overall risk profile.

Background Concepts

• Derivative: a contract whose value derives from an underlying asset, rate or index — interest rate swaps, currency forwards, credit default swaps.
• Counterparty credit risk: the risk that the other party to a derivative defaults before final settlement. Distinct from ordinary credit risk because the exposure varies with market movements and can be positive or negative.
• Central clearing: trades routed through a central counterparty (in India, the Clearing Corporation of India Ltd) are far less risky, since the CCP guarantees performance. This is why the ₹10 trillion threshold applies specifically to non-centrally cleared derivatives — those are where CVA risk actually resides.
• Credit default swap (CDS): a contract that pays out if a specified entity defaults — effectively insurance against counterparty failure, and hence an eligible CVA hedge.
• Basel III: the post-2008 global regulatory framework covering capital adequacy, leverage and liquidity, issued by the BCBS, which is hosted by the Bank for International Settlements at Basel.

Exam Relevance

RBI Grade B — Very high relevance for Phase II Paper III. This is core prudential regulation and precisely the technical territory RBI papers reward.

4. RBI's NBFC Upper Layer List 2026-27

Source: The Hindu

Context The Reserve Bank of India released a list of 17 large (Upper Layer) non-banking finance companies for 2026-27, which included Tata Sons — subjecting them to enhanced regulatory norms for at least five years and mandatory listing within three years of identification. The RBI added that Tata Sons' status "is without prejudice to the outcome of its application for de-registration, which is under examination."

Scale-Based Regulation

Scale-Based Regulation (SBR) is a regulatory approach in which financial institutions are regulated according to their size, complexity, interconnectedness and risk profile, rather than applying identical rules to every institution.

Under the RBI's Scale Based Regulation (SBR) framework, NBFCs are placed in four layers, with regulatory intensity rising by size, activity and perceived risk.

Consequences of UL classification

• Enhanced regulatory norms for a minimum of five years, even if the NBFC later falls below the parametric benchmarks.
• Mandatory listing within three years of identification.
• Additional requirements including a Common Equity Tier 1 ratio, large exposure norms, differential provisioning, an independent compliance function, and internal capital adequacy assessment.

Agriculture

1. FarmerChat 2.0

Source: businessline

Context Digital Green India launched an upgraded version of its FarmerChat app, even as the number of users of the AI-powered farming advisory app crossed 10 lakh, spanning farmers and frontline extension workers across the country.

What It Is

An AI-powered farming advisory application offering trusted, hyperlocal guidance to farmers, developed by Digital Green India. It provides timely, context-aware advice across a farmer's decisions — from crop and pest management to livestock care and weather — even in low-connectivity environments.

Key Features

• Conversational interface — farmers can ask questions by voice, photo or text, accommodating low literacy and the reality that many field problems are easier to photograph than to name.
• Coverage across the farming cycle — crop planning, pest and disease management, livestock care, weather forecasts and inputs.
• Technology stack — fine-tuned language models combined with Retrieval-Augmented Generation (RAG) and expert-validated datasets, refined through Reinforcement Learning from Human Feedback (RLHF).
• What 2.0 adds — saves farmer preferences, such as speaking to the digital assistant or uploading photographs of field problems.

Exam Relevance

NABARD Grade A — High relevance for Phase II Paper II. Agricultural extension, digital agriculture and women's participation in agriculture are core themes. Retain the figures (10 lakh users, 5 languages, 30 lakh queries, 45% women, ₹33 per farmer per year) and the extension-reach argument.

2. India's First T2T Genome of Pigeonpea

Source: businessline

Context The Indian Council of Agricultural Research announced that it has developed India's first fully annotated telomere-to-telomere (T2T) reference genome of pigeonpea (Cajanus cajan L. Millsp.), variety 'Asha'.

What It Is

A complete, gap-free genome sequence covering every chromosome from one telomere to the other, including the centromeres — as distinct from a draft genome, which leaves gaps in repetitive regions that older sequencing technology could not resolve.

Why a T2T Genome Is Different

• A draft genome sequences the readable parts of the DNA and leaves gaps wherever the sequence becomes repetitive — precisely where centromeres and telomeres sit. Short-read sequencing cannot resolve long stretches of near-identical repeats.
• A T2T assembly closes those gaps, reading each chromosome continuously end to end. The 92 contigs for 11 chromosomes indicates near-complete chromosome-level assembly, and the 99.9% transcriptome read alignment is the accuracy check — nearly every RNA sequence maps cleanly onto the assembly.
• Why the gaps mattered: centromeric and repetitive regions govern chromosome segregation, recombination frequency and the behaviour of large gene families — including many disease-resistance genes, which cluster in repeat-rich regions. A breeder working from a draft was effectively blind in exactly the areas where stress-tolerance and resistance traits often reside.

The Institutional Track Record

• 2011 — ICAR–NIPB published the world's first draft genome of pigeonpea variety 'Asha' — the first crop genome sequenced entirely in India.
• 2017 — an improved draft genome was published.
• Now — the fully annotated T2T assembly.

Why Pigeonpea Matters

Popularly known as Arhar or Tur, it is one of India's most important pulse crops and a major source of dietary protein, central to food and nutritional security. India remains a net importer of pulses.

3. Proposed Central Law on Women Farmers' Rights

Source: The Hindu

Context The Union government is considering a separate legislation to protect the rights of women farmers, on the lines of the Maharashtra Women Farmers Empowerment Act, 2026, said S. Mahendra Dev, Chairman of the Economic Advisory Council to the Prime Minister, in Chennai. He was speaking at the inauguration of a conference on "Building Gender-just Food, Land and Water Systems" at the M.S. Swaminathan Research Foundation (MSSRF).

The Core Problem

• For decades, the word "farmer" in government records meant the person who owns the land. Since agricultural land is predominantly registered in the names of male family members, women who sow, transplant, weed, harvest, rear livestock and handle post-harvest processing remained legally invisible — and therefore ineligible for institutional credit, subsidies, crop insurance, extension services and most farmer-centric schemes.
• In Maharashtra, women hold only about 15.5% of operational farmland, though they perform a large share of agricultural labour.

The Maharashtra Model

The Fund receives grants from the Central and State Governments, donations and other sources, and involves recurring expenditure from the Consolidated Fund of the State.

Exam Relevance

NABARD Grade A — Very high relevance for Phase II Paper II. Women in agriculture, land rights, Kisan Credit Card access and Self-Help Group linkage are core themes, and NABARD directly finances women's SHGs and Joint Liability Groups — the standard workaround for cultivators without land title. Retain the 15.5% operational holding figure, the certificate mechanism, and the institutions created under the Maharashtra Act.

Facts To Remember

1. Cabinet Approves GOBARdhan National Circular Bioenergy Scheme

The Union Cabinet approved the GOBARdhan National Circular Bioenergy Scheme with a total outlay of ₹23,731 crore to promote clean energy and rural prosperity. The scheme is expected to generate around 1.5 lakh jobs and strengthen India’s circular bioeconomy.

2. India Successfully Test-Fires Agni-4 Ballistic Missile

India successfully test-fired the Agni-4 medium-range ballistic missile from the Integrated Test Range at Chandipur, Odisha. The Defence Ministry said the launch successfully validated all operational and technical parameters.

3. Lok Sabha Passes Bankers’ Books Evidence Bill, 2026

The Lok Sabha passed the Bankers’ Books Evidence Bill, 2026, providing legal recognition to electronic and digital records of bankers’ books as evidence. The legislation seeks to modernise the legal framework governing banking records.

4. India Launches Clouded Leopard Conservation Action Plan

India launched a dedicated Conservation Action Plan for Clouded Leopards on International Clouded Leopard Day to strengthen habitat protection, scientific monitoring and community participation. The initiative focuses on conserving the species across Northeast India.

5. Tri-Services Future Warfare Course Begins in New Delhi

The 4th Tri-Services Future Warfare Course commenced in New Delhi under the Headquarters Integrated Defence Staff. The four-week programme aims to enhance jointness and prepare military officers for emerging and future warfare challenges.

6. India Wins 39 Medals at Glasgow Commonwealth Games 2026

India finished fourth at the Glasgow Commonwealth Games 2026 with 39 medals, including 13 gold, 17 silver and 9 bronze. Australia topped the medal table with 171 medals, while Glasgow handed over the Commonwealth Games baton to Ahmedabad, host of the 2030 edition.

7. India’s Economy Likely to Grow Around 7% in Q1 FY27

According to SBI Research, India’s economy is likely to grow by around 7% in Q1 FY27, supported by stronger economic indicators, industrial activity and recovering exports. The estimate is higher than the RBI’s earlier projection of 6.6%.

8. Air Marshal Tejpal Singh Takes Charge as Deputy Chief of Air Staff

Air Marshal Tejpal Singh assumed charge as the Deputy Chief of the Air Staff of the Indian Air Force. His appointment comes as part of the senior leadership changes within the IAF.

9. Indian Army Launches Indigenous Xtreme Weather Grade Diesel

Chief of Army Staff General Dhiraj Seth launched indigenously developed Xtreme Weather Grade Diesel in New Delhi. Developed jointly by the Indian Army and oil marketing companies, the specialised fuel is designed to improve the mobility and operational availability of military vehicles in extreme weather conditions.

10. Delhi Government Launches STEM Innovation Lab

Delhi Chief Minister Rekha Gupta inaugurated a STEM Innovation Lab at Sarvodaya Vidyalaya in Pitampura to promote experiential learning in Science, Technology, Engineering and Mathematics. The initiative aims to equip government-school students with skills needed for an innovation-driven future.

11. PM Modi Calls for Promotion of Indian Handloom

Prime Minister Narendra Modi urged citizens to promote Indian handloom products ahead of National Handloom Day on August 7. He also recalled the Swadeshi Movement of 1905, highlighting the cultural and economic significance of India’s handloom sector.

12. U.S. Senate Passes Bill Threatening 100% Tariff on India

The U.S. Senate passed the Lindsey O. Graham Sanctioning Russia and Iran Act, 2026, which could impose tariffs of up to 100% on countries continuing to import Russian oil under specified conditions. India faces potential exposure as one of the major importers of Russian crude oil.

13. IRDAI Seeks Monthly Insurance Data for Index of Service Production

The IRDAI directed insurers, excluding reinsurers, to submit monthly data on premium income, investment income and claims paid for the preparation of the Index of Service Production (ISP). The move will strengthen the availability of data for measuring activity in the insurance sector.

14. Odisha to Launch Five Food Parks at Investor Summit

The Odisha Government will launch five food parks at the Odisha Food Pro 2026 investors’ meet in New Delhi. The state is targeting around ₹10,000 crore in investments and more than 20,000 jobs through the initiative.

15. Guwahati–Tezpur Highway Corridor Approved

The Union Cabinet approved the ₹8,970 crore Guwahati–Tezpur Highway Corridor in Assam as a four-lane, access-controlled section of NH-15. The project will be developed under the Build-Operate-Transfer (BOT) Toll model to improve connectivity in the region.

16. Bhawana Kanth Becomes India’s First Woman Fighter Combat Leader

Squadron Leader Bhawana Kanth became the first Indian woman Fighter Combat Leader (FCL) after completing the specialised course at TACDE, Gwalior. The achievement marks another milestone in the growing role of women in India’s fighter combat operations.

17. 12 Rat-Hole Miners Receive Sarvottam Jeevan Raksha Padak

The Union Government conferred the Sarvottam Jeevan Raksha Padak, India’s highest-tier Jeevan Raksha Padak award, on 12 rat-hole miners for their extraordinary bravery during the Silkyara Tunnel rescue operation. The award recognises exceptional courage in saving human lives under extreme risk.

18. India Hosts BRICS Meeting of National Statistical Offices

India hosted the Meeting of Heads of National Statistical Offices of BRICS countries in Lucknow from August 3–4, 2026. Held under the theme “Quality Statistics as a Driver of Change,” the meeting focused on strengthening statistical cooperation among BRICS nations.

19. C-DAC and GSI Sign MoU for Mineral Exploration and Disaster Management

C-DAC and Geological Survey of India (GSI) signed an MoU to use advanced technologies for mineral exploration, geoscience and disaster management. The partnership will focus on AI-based geological data processing, 3D subsurface mapping, critical mineral exploration, landslide monitoring and GLOF studies.

20. IIT Hyderabad Launches Nuclear Technology Programme ANUGYAN

IIT Hyderabad and Crimson Energy Experts India launched ANUGYAN, India’s first industry–academia nuclear technology orientation programme. The three-month residential programme aims to develop skilled professionals to support India’s goal of expanding nuclear power capacity to 100 GW by 2047.

21. Jupiter Wagons Partners with Lucchini RS for Railwheel Manufacturing

Jupiter Wagons partnered with Italy’s Lucchini RS and SIMEST to establish India’s first fully integrated private-sector railwheel manufacturing platform. The partnership involves a combined €28 million investment and will support technology transfer and domestic railwheel production.

22. Niyo Forex and GlobalPay Receive RBI AD-II Licences

Niyo Forex and GlobalPay secured perpetual and expanded Authorised Dealer Category-II (AD-II) licences from the RBI under the updated FEMA framework. The approvals will enable the fintech companies to expand regulated foreign exchange, remittance and cross-border payment services.

23. Air India and Azerbaijan Airlines Sign Codeshare Partnership

Air India and Azerbaijan Airlines (AZAL) entered into a codeshare partnership to strengthen connectivity between India and Azerbaijan. Air India will place its AI code on AZAL’s daily Delhi–Baku and Mumbai–Baku flights, enabling passengers to book the services through Air India.

24. Prasanta Mahapatra Appointed SEBI Executive Director

Prasanta Mahapatra assumed charge as an Executive Director of SEBI, overseeing the Corporation Finance Investigation Department and Recovery and Refund Department. He brings more than 27 years of experience in securities market regulation and supervision.

25. Kerala Researchers Discover New Seahorse Species

Researchers from Kerala University of Fisheries and Ocean Studies identified a new seahorse species named Hippocampus amandavincentae, resolving a 150-year-old taxonomic confusion. The discovery represents the fifth recorded seahorse species from the Kerala coast and strengthens knowledge of India’s marine biodiversity.

26. D. Y. Patil Passes Away at 90

Former Governors of Tripura and Bihar, D. Y. Patil, passed away at the age of 90 in Kolhapur, Maharashtra. A renowned educationist and founder of the D.Y. Patil Group, he was awarded the Padma Shri in 1991 for his contributions to education and social service.

27. Annapurni Subramaniam Wins COSPAR Vikram Sarabhai Medal 2026

Indian astrophysicist Annapurni Subramaniam, Director of the Indian Institute of Astrophysics, received the COSPAR Vikram Sarabhai Medal 2026 in Italy. She became the first Indian woman and the fourth Indian scientist to receive the prestigious award.

28. Senior Bureaucrats Appointed to IMF, ADB and Other Global Bodies

The Appointments Committee of the Cabinet approved the appointment of senior Indian bureaucrats to international organisations including the IMF, ADB and ICAO. Rahul Jain was appointed Senior Adviser to the IMF Executive Director, while Baldeo Purushartha was appointed Senior Adviser to the ADB Executive Director.

29. Tewolde Gebremariam Appointed Air India CEO and MD

Air India appointed former Ethiopian Airlines CEO Tewolde Gebremariam as its new CEO and Managing Director, succeeding Campbell Wilson. He brings more than a decade of experience in international aviation, network expansion, safety management and airline operations.

30. T. V. Somanathan Gets One-Year Extension as Cabinet Secretary

The Appointments Committee of the Cabinet approved a one-year extension for T. V. Somanathan as Cabinet Secretary, extending his tenure beyond August 30, 2026. The ACC also approved a one-year extension for Union Home Secretary Govind Mohan until August 2027.

31. Justice M. S. Liberhan Passes Away at 87

Former Chief Justice of the Madras High Court and Andhra Pradesh High Court, Justice M. S. Liberhan, passed away at the age of 87. He was widely known for heading the Liberhan Commission, which investigated the 1992 Babri Masjid demolition.

32. National Javelin Day Observed on August 7

National Javelin Day was observed on August 7 to commemorate Neeraj Chopra’s historic gold medal at the Tokyo Olympics 2020 and promote javelin throw in India. The Athletics Federation of India declared August 7 as National Javelin Day in 2021.

33. Tamil Nadu Presents First Budget of TVK Government

Tamil Nadu Finance Minister N. Marie Wilson presented the TVK government’s first budget for FY27, targeting a $1.5 trillion state economy by 2031. The budget focused on AI, industrial expansion, education, infrastructure and social welfare, with major allocations for education, health and energy.

34. Hiroshima Day 2026 Observed on August 6

Hiroshima Day was observed on August 6 to commemorate the victims of the atomic bombing of Hiroshima in 1945. The year 2026 marks the 81st anniversary of the tragedy.

35. International Clouded Leopard Day Observed on August 4

International Clouded Leopard Day was observed on August 4 to raise awareness about conserving the elusive wild cat. India marked the occasion by launching a Conservation Action Plan focused on habitat protection, scientific monitoring and community participation across Northeast India.

Context In a world-first milestone, five captive-bred Slender-billed Vultures along with five White-rumped Vultures were released into the wild using the "Soft Release" scientific method in the Biswanath Wildlife Division of Kaziranga National Park, Assam.

Slender-billed Vulture (Gyps tenuirostris)

An Old World scavenger bird of prey of the family Accipitridae. Once considered a subspecies of the Indian Vulture under the name Long-billed Vulture, it is now classified as a distinct species native to South Asia and parts of Southeast Asia.

Key features: an unfeathered, narrow, elongated black head and long skinny black neck, giving a scruffy appearance; a distinct shiny, slender beak adapted for deep carcass feeding; dark brown, light brown and beige plumage with cream-coloured feathering on the legs visible in flight.

White-rumped Vulture (Gyps bengalensis)

The smallest of the Old World Gyps vultures, native to South and Southeast Asia. Formerly among the most abundant large birds of prey in the world during the 1980s, its global population collapsed by over 99% within two decades due to veterinary drug toxicity.

Key features:

• Signature white patch on the lower back/rump and underwing coverts, visible in flight or when stretching wings.
• Overall dark/black plumage with a whitish downy ruff or collar at the base of the neck.
• 12 tail feathers, against 14 in most other Gyps species.
• Lethal drug vulnerability — highly susceptible to renal failure from consuming livestock carcasses treated with NSAIDs such as diclofenac, aceclofenac, ketoprofen and nimesulide.

The Vulture Crisis

• The 99% collapse was traced to diclofenac, used to treat cattle. Vultures feeding on treated carcasses suffered visceral gout and kidney failure. India banned veterinary diclofenac in 2006, and later ketoprofen and aceclofenac; meloxicam is the approved vulture-safe alternative.
• Why it mattered beyond the birds: vultures removed millions of tonnes of carcass waste. Their disappearance allowed feral dog and rat populations to expand, raising rabies incidence and carcass-borne disease — one of the most cited examples of a collapsed ecosystem service with direct human health and economic cost.
• Conservation framework: the Action Plan for Vulture Conservation (2020–2025); Vulture Conservation Breeding Centres (Pinjore in Haryana, Rajabhatkhawa in West Bengal, Rani in Assam and others) run with the Bombay Natural History Society; Vulture Safe Zones; and Schedule I protection under the Wild Life (Protection) Act, 1972.

2. Agni-IV Ballistic Missile

Source: Times of India

Context The Strategic Forces Command (SFC) successfully conducted a routine training launch of the Agni-IV intermediate-range ballistic missile off the coast of Odisha.

What It Is

• An indigenous, nuclear-capable, two-stage solid-fuelled Intermediate-Range Ballistic Missile (IRBM) with a strike range of about 4,000 km, serving as a core land-based component of India's nuclear triad.
• Developed by: the Defence Research and Development Organisation (DRDO).
• Aim: to provide a highly mobile, survivable and precise land-based nuclear deterrent against regional strategic threats across Asia, strengthening India's policy of Credible Minimum Deterrence and No First Use.

3. E-Samudra Platform

Source: PIB

Context The Union Minister for Ports, Shipping and Waterways launched E-Samudra, an integrated digital portal aimed at accelerating the digital transformation of India's maritime administration.

What It Is

A comprehensive, single-window, Digital-First and Faceless portal designed to digitise and streamline administrative workflows across India's maritime sector. It integrates services for seafarers, shipping companies, recruitment agencies, training institutes and port authorities under a unified digital framework.

Aim: to transition maritime governance from a paper-based office model to a transparent, predictable digital ecosystem, enhancing Ease of Living for Indian seafarers and Ease of Doing Business for maritime businesses.

Key Features

• Single-window digital governance — consolidates administrative workflows, online fee payments, real-time application tracking and digital certificate issuance into a single paperless portal.
• Digital Seafarers Employment Agreement (d-SEA) — verifiable digital employment agreements safeguarding contractual entitlements, transparent wages and labour standards for crew.
• Real-time seafarer tracking dashboard — monitors deployment, safety, location and welfare of Indian seafarers worldwide, regardless of vessel flag.
• 24×7 integrated grievance redressal (e-NAVIK) — connects seafarers directly with emergency response, medical help and grievance resolution, accessible onboard or ashore.
• Remote maritime access — the Digital-First and Faceless design allows seafarers deployed on high-seas vessels to access official services.
• Focus on inclusion and mental health — complements existing seafarer welfare programmes.

4. Indian Navy–US Navy Explosive Ordnance Disposal Exercise 2026

Source: News on Air

Context The 8th edition of the Indian Navy–US Navy Explosive Ordnance Disposal (EOD) Exercise 2026 is scheduled to take place at the Southern Naval Command, Kochi, Kerala.

What It Is

A specialised bilateral military training exercise focused on underwater salvage, bomb disposal and explosive ordnance neutralisation. It forms part of the joint salvage and EOD series historically conducted under the SALVEX banner, initiated by both navies in 2005.

Aim: to enhance operational interoperability, deepen professional cooperation, and build tactical synergy between the specialist diving and EOD units of the two navies.

5. Amboseli National Park

Context

In Kenya's Amboseli National Park ecosystem, a mystery unfolded following the sudden deaths of 15–16 African elephants within a single month. The Kenya Wildlife Service (KWS) launched an investigation after preliminary tests detected cyanide poisoning, likely linked to agrochemicals from nearby farms.

What It Is

Formerly the Maasai Amboseli Game Reserve, it is one of Kenya's most famous national parks. Known as the "Land of Giants", it is celebrated for large herds of free-ranging African elephants set against the backdrop of Mount Kilimanjaro.

6. Nurses Registration and Tracking System (NRTS)

Source: The Hindu

Context More than two-thirds of India's registered nursing workforce are yet to be brought under the Nurses Registration and Tracking System (NRTS), despite the digital platform having been introduced over seven years ago. Government data tabled in the Lok Sabha show only 14.24 lakh of 46.02 lakh registered nursing personnel are enrolled, leaving 31.78 lakh outside the national system.

What It Is

A digital platform launched by the Indian Nursing Council (INC) in association with the National Informatics Centre (NIC) to maintain a live national register of nursing personnel and provide a common online platform for:

• Primary registration
• Renewal
• Reciprocal (inter-State) registration
• Higher qualification registration
• Other related services

Personnel covered: Auxiliary Nurse Midwives (ANMs), Registered Nurses and Registered Midwives (RN & RM), and Lady Health Visitors (LHVs). Enrolment leads to issue of a National Unique Identity (NUID) card.

Consequences of Incomplete Rollout

• Nurses wait months for No Objection Certificates (NOCs) required to change their place of employment.
• Those seeking overseas employment face delays in credential verification, affecting career opportunities and livelihoods.
• Duplication and delay: the Indian Professional Nurses Association (IPNA) contends that several State Nursing Registration Councils continue to process registration, renewal and reciprocal registration through their own systems, defeating the purpose of a centralised registry.

Agriculture

1. Learning from Self Help Groups

Source: Business Standard

Context An opinion piece arguing that the Self Help Group movement is the most significant innovation in the rural financial landscape in many decades, and that policymakers have misread its lessons. The core policy question posed: whether to nurture a system coming from the grassroots and allow it to grow naturally, or infuse growth hormones.

Self Help Groups (SHGs)

Self Help Groups are small, voluntary, community-based groups, usually comprising 10–20 members, who come together for savings, credit, livelihood activities and mutual support.

Key Features

• Members make regular savings and create a common fund.
• The group provides small loans to members, reducing dependence on informal moneylenders.
• SHGs promote financial inclusion, entrepreneurship and livelihood generation.
• They are an important tool for women’s economic empowerment in rural areas.
• SHGs are often linked with banks for access to formal credit.

What Made SHGs Work

• Savings first, not credit. The movement started with savings — a counter-intuitive initiative in a rural financial system where credit had always been the credo. This inversion is the movement's foundational insight.
• Women at the centre. It targeted poor rural women, circumventing the patriarchal assumption that the male head of household should be at the centre of poverty intervention. The author argues this was not merely a gender argument but fundamentally a product-design argument.

How the SHG Model Works

• Members save small, fixed amounts regularly, usually weekly or monthly.
• Savings are collected during local group meetings.
• The accumulated fund is used to provide loans to members.
• Loans are provided based on mutual trust and group-based decision-making.
• SHGs effectively function as local financial institutions.
• Later, bank linkage enabled SHGs to access larger institutional loans.

Key Lesson — Savings First

The article challenges the idea that poor households cannot save.

Poor households generally value:

• Safety
• Proximity
• Easy transactions
• Regular savings
• Trust

The success of SHGs shows that small and regular savings can become an important source of financial security.

Problem with the Current Approach

Excessive focus on subsidised credit, grants and external funding can weaken the original savings-led model.

• SHGs may accumulate funds but have limited productive lending.
• Defaults can restrict further lending.
• Excessive dependence on external credit can reduce the importance of members' own savings.

Innovative Example — Insurance + Savings

An SHG in Ananthapur, Andhra Pradesh, developed an approach to make insurance more accessible:

• Members opted for an annual insurance policy.
• The group provided an interest-free loan to pay the annual premium.
• The premium was effectively converted into a monthly savings-like arrangement.
• Group profits were also used to support members.

2. Reorienting PM-KISAN

Source: Business Standard

Context The Union Cabinet's decision to extend PM-KISAN for five years from 2026-27 to 2030-31 is an expected continuation of a programme providing annual income support to farmers. The editorial argues the extension is an opportunity to reorient the scheme — specifically, to extend it to tenant and landless farmers and to use its architecture to reform the fertiliser subsidy.

PM-KISAN — Current Position

• Provides ₹6,000 annually to eligible farmers in three instalments.
• Uses Aadhaar authentication and digital verification.
• Around 95 million farmers have benefited.
• The scheme has been extended for five years from 2026-27 to 2030-31.
• The annual support has remained at ₹6,000 since the scheme began.

Key Issue — Tenant Farmers

PM-KISAN primarily covers land-owning farmers, with eligibility linked to land records.

However:

• India has a large number of tenant farmers and landless cultivators.
• Tenant farmers are vulnerable to rising input costs and climate-related risks.
• They often have limited access to institutional credit and government support.
• Excluding them creates a gap between land ownership and actual cultivation.

Suggested solution: State-level verification can be used to identify genuine cultivators and extend support to eligible tenant farmers.

Linking Fertiliser Subsidy with PM-KISAN

The editorial proposes using PM-KISAN’s existing JAM and DBT infrastructure for fertiliser subsidy delivery.

Under the proposed approach:

• Fertiliser requirements could be estimated based on landholding and crop patterns.
• Subsidy could be transferred directly to farmers.
• This could reduce dependence on the current system of routing subsidies through fertiliser producers.
• Better targeting could reduce leakages and misuse.
• It could also address the excessive use of subsidised urea.

Facts To Remember

1. Squadron Leader Bhawana Kanth Becomes IAF’s First Woman Fighter Combat Leader

In August 2026, Squadron Leader Bhawana Kanth became the first woman fighter pilot of the Indian Air Force to complete the Fighter Combat Leader (FCL) course at TACDE, Gwalior. She became the first woman graduate of the IAF’s elite “Top Gun” school. The 20-week course trains selected pilots to lead complex air combat and tactical missions.

2. LASPL and Massivit Sign MoU for India’s First Large-Format Additive Manufacturing Facility

In August 2026, Lohia Aerospace Systems Private Limited (LASPL) signed an MoU with Israel-based Massivit to establish India’s first commercial large-format additive manufacturing facility in Kanpur, Uttar Pradesh. The project involves an investment of USD 8–10 million over 1–2 years. It will support aerospace and defence manufacturing through advanced 3D-printing technology.

3. RBI Expands Upper-Layer NBFC List to 17 for FY27

In August 2026, the Reserve Bank of India (RBI) identified 17 NBFCs for inclusion in the Upper Layer (NBFC-UL) for FY 2026–27. The number increased from 15 in January 2025. REC, PFC, IRFC and HUDCO were added to the list, while Tata Sons continued as an upper-layer NBFC.

4. RBI Extends Loan Recovery Norms Deadline to January 1, 2027

In August 2026, the RBI extended the implementation deadline for its revised framework on loan recovery and recovery agents from October 1, 2026 to January 1, 2027. Existing recovery agents not previously covered will receive a transition period to obtain certification from IIBF or an institute having a tie-up with IIBF. Certain bank employees, regular instalment collectors and assisting law firms are exempted.

5. SBI Life Partners with J&K Bank to Offer Insurance Solutions Across India

In August 2026, SBI Life Insurance Company entered into a corporate agency partnership with Jammu & Kashmir Bank. The partnership will distribute SBI Life’s protection, savings, retirement and child insurance products through J&K Bank’s branch network. It aims to improve insurance penetration and financial inclusion in line with the vision of Insurance for All by 2047.

6. Standard Chartered Gets IFSCA Approval for Wealth Management Services from GIFT City

In August 2026, Standard Chartered Bank received approval from IFSCA to offer wealth management products and services through its GIFT City branch. The approval will allow the bank to provide retail wealth management, capital-market products and other financial solutions. It further strengthens GIFT IFSC as an international financial hub.

7. Indian Bank Approves Rs 500 Crore MSME Loans During Credit Outreach Programme

In August 2026, Indian Bank approved nearly Rs 500 crore in MSME loans to 128 beneficiaries during its Credit Outreach Programme. The bank also mobilised credit proposals worth around Rs 1,250 crore. The programme included the launch of a Unified MSME Portal enabling digital lending through PAN, GST and Udyam Registration data.

8. Kroll Report 2025: Shah Rukh Khan Tops Indian Celebrity Brand Rankings

In August 2026, Kroll released its 11th Celebrity Brand Valuation 2025 report, ranking Shah Rukh Khan as India’s most valuable celebrity with a brand value of USD 177.9 million. Ranveer Singh ranked second at USD 162.9 million, while Virat Kohli ranked third at USD 158.4 million. The combined brand value of India’s top 25 celebrities stood at around USD 2 billion.

9. India Successfully Test-Fires Agni-4 Missile from Chandipur, Odisha

In August 2026, India successfully conducted the flight test of the Agni-4 Medium-Range Ballistic Missile from Chandipur, Odisha. The test was carried out by the Strategic Forces Command (SFC) in collaboration with DRDO. The two-stage, solid-fuel missile has an approximate range of 4,000 km and can carry a payload of up to 1,000 kg.

10. R Praggnanandhaa Wins Maiden Saint Louis Rapid & Blitz Title

Indian Grandmaster R Praggnanandhaa won his maiden Saint Louis Rapid & Blitz title in the United States, held from July 31 to August 7, 2026. He finished with 23.5 points, winning the rapid section and maintaining his lead in blitz. The tournament was the fourth leg of the 11th Grand Chess Tour.

11. England Pacer John Turner Announces Retirement from Professional Cricket

In August 2026, England fast bowler John Turner announced his retirement from professional cricket at the age of 25. A prolonged back stress fracture and recurring injuries ended his five-year career. He represented England in 2 ODIs and 2 T20Is and took 97 wickets in 51 domestic matches for Hampshire.

12. National Handloom Day 2026 – August 7

National Handloom Day is observed annually on August 7 to honour India’s handloom weavers and highlight the sector’s contribution to socio-economic development. The Government declared August 7 as National Handloom Day in 2015 to commemorate the Swadeshi Movement of 1905. The 12th National Handloom Day was celebrated in New Delhi in 2026.

13. Quit India Movement Day 2026 – August 8

Quit India Movement Day, also known as August Kranti Diwas, is observed on August 8 to commemorate the launch of the Quit India Movement in 1942. Mahatma Gandhi gave the historic “Do or Die” call during the movement. Aruna Asaf Ali became an iconic figure after hoisting the national flag at Gowalia Tank Maidan.

14. Nagasaki Day 2026 – August 9

Nagasaki Day is observed annually on August 9 to commemorate the atomic bombing of Nagasaki, Japan, in 1945 during World War II. In 2026, the world marked the 81st anniversary of the bombing. The US B-29 bomber Bockscar dropped the plutonium-based “Fat Man” atomic bomb on the city.

15. International Day of the World’s Indigenous Peoples 2026 – August 9

The International Day of the World’s Indigenous Peoples is observed annually on August 9 to recognise the rights, cultures, traditions and knowledge systems of indigenous communities. The UN proclaimed the day in 1994, with the first observance held in 1995. The 2026 theme is “Honouring Indigenous Midwives: Safeguarding Life and Well-being.”

Context The 13th BRICS Education Ministers' Meeting concluded in Bhubaneswar, Odisha, with the adoption of the 13th BRICS Education Ministers' Declaration — also called the Bhubaneswar Declaration — under India's BRICS Chairship 2026.

What It Is

A joint policy framework adopted by BRICS member countries to deepen cooperation in education, skills, research, innovation and academic mobility.

• Reflects India's 2026 BRICS Chairship theme: "Building for Resilience, Innovation, Cooperation and Sustainability."
• Places learners, teachers, researchers and youth at the centre of cooperation.
• Chaired by Union Education Minister Pralhad Joshi, who described education as the foundation of inclusive growth and reaffirmed a "people-centric and humanity-first" approach.

About

• Aim: to build inclusive, resilient, future-ready and human-centred education systems through stronger cooperation in foundational learning, skill development, research, academic mobility and institutional capacity.
• Participants: Brazil, Russia, China, South Africa, Indonesia, Iran, Ethiopia and the United Arab Emirates, alongside India.
• Preparatory process: the 3rd BRICS Education Senior Officials' Meeting was held at Bhubaneswar on 5 August 2026 to finalise the draft declaration.

Background

• BRICS — originally Brazil, Russia, India, China (2009), with South Africa joining in 2010. The bloc expanded from 2024 to include Egypt, Ethiopia, Iran and the UAE, with Indonesia joining in 2025. Saudi Arabia has been invited.
• India holds the BRICS Chairship in 2026 and will host the 18th BRICS Summit in New Delhi on 12–13 September 2026.
• Institutions: the New Development Bank (Shanghai, President Dilma Rousseff) and the Contingent Reserve Arrangement.
• The declaration's priorities align closely with the National Education Policy 2020 — multidisciplinary learning, internationalisation of higher education, FLN under NIPUN Bharat, and digital transformation.

2. National Co-operative Development Corporation (Amendment) Bill, 2026

Source: TH

Context The Minister of State for Cooperation introduced the National Co-operative Development Corporation (Amendment) Bill, 2026 in the Lok Sabha.

About the NCDC

A statutory apex financial and developmental organisation functioning under the Ministry of Cooperation.

Aim: to plan, promote and finance nationwide programmes for the production, processing, marketing, storage, export and import of agricultural produce, foodstuffs and notified commodities through cooperative frameworks.

Key functions

• Financial assistance and credit flow — direct loans, grants and working capital to eligible cooperative societies and developmental institutions.
• Infrastructure development — processing units, cold chains, storage godowns and marketing infrastructure across rural networks.
• Inclusive cooperative support — targeted assistance to weaker section cooperatives, including women, SC/ST and smallholder farmer collectives.
• Market integration and trade facilitation — agricultural export-import, value addition and supply chain linkages.

Key Features of the Amendment Bill

• Broadened statutory mandate — changes NCDC's core mandate from planning and promoting programmes "through co-operative societies" to "for co-operative development", expanding its operational scope.
• Direct funding via intermediary entities — allows NCDC to extend loans and grants directly to cooperative societies or non-cooperative entities such as specialised agencies and statutory bodies engaged in supporting cooperative development.
• Share capital participation — empowers NCDC, subject to Central Government approval, to participate directly in the share capital of eligible cooperative societies and supporting development entities.
• Expanded scope — widens the definition of foodstuffs to cover processed and notified food items, and removes geographical restrictions on industrial goods financing.
• Enhanced operational and credit powers — new Sections 9A and 13A granting incidental powers for smoother operations and enabling credit information sharing with the Central Government, RBI and banks.

3. The Moon Base Programme

Context During the 9th meeting of the India–US Civil Space Joint Working Group (CSJWG) held at ISRO headquarters in Bengaluru, NASA officially invited the Indian Space Research Organisation to join its Moon Base programme. The invitation builds upon the growing strategic space partnership between the two nations under the Artemis Accords.

What It Is

A NASA-led initiative to build humanity's first permanent lunar outpost near the lunar South Pole — a sustainable surface habitat where astronauts will live, work, conduct scientific research and test deep-space survival technologies.

Aim: to establish an enduring human presence on the Moon, explore volatile water-ice resources at the lunar South Pole, and create a technological stepping stone for future crewed missions to Mars.

Key Features

• Strategic South Pole positioning — capitalises on the region's unique geology, where elevated ridges receive near-continuous sunlight for solar energy while nearby craters shield vast deposits of water ice in permanent shadow.
• Commercial and private sector integration — heavily leverages partners such as Astrobotic, Blue Origin, Firefly Aerospace and Intuitive Machines for cargo landers, surface rovers and autonomous drones.
• In-Situ Resource Utilisation (ISRU) — harvesting lunar regolith and extracting water ice to generate oxygen, drinking water and rocket propellant on site.
• Phased modular infrastructure — built step by step using expandable surface habitats, uncrewed logistics landers, surface power grids and pressurised rovers.
• Open scientific data architecture — designed under the Artemis Accords framework to enable transparent international sharing of lunar scientific data and environmental observations.

4. Shruti — Next Generation Offshore Patrol Vessel

Source: TOI

Context Yard 3037 (Shruti), a Next Generation Offshore Patrol Vessel (NGOPV) built for the Indian Navy, was launched at M/s Garden Reach Shipbuilders & Engineers (GRSE), Kolkata.

What It Is

• An indigenously designed and constructed NGOPV of the Shachi class, named after India's ancient cultural heritage — Shruti, referring to the four Vedas. It is engineered for multi-domain maritime operations in both coastal and deep-sea waters.
• Aim: to augment the Navy's surface fleet for constant ocean surveillance, protection of offshore assets, anti-piracy operations, counter-infiltration and Humanitarian Assistance and Disaster Relief (HADR).

5. Prakriti Gyan Dham — The Eco-Educational Hub

Source: Times of India

Context The Union Minister of State for Science and Technology, Dr. Jitendra Singh, dedicated Prakriti Gyan Dham, India's first-of-its-kind eco-educational hub, to the nation.

What It Is

An interactive, open-air eco-educational facility and living repository of India's botanical wealth, heritage trees and environmental research. It functions as a "walkable classroom" for students, researchers, nature enthusiasts and farmers to engage directly with plant science and sustainable bio-resources.

Aim: to extend scientific research beyond laboratory walls into society — fostering experiential environmental education, preserving botanical-cultural heritage, promoting threatened plant conservation, and driving livelihood generation through bio-technologies.

Key Features

• PAaVan Path (Heritage Trail) — the centrepiece. Plants and Associated Vegetations for Appreciating Nature — an interpretive trail displaying curated plant species representing India's diverse ecological regions.
• Indian Heritage Garden with QR systems — features cloned descendants of historically sacred and freedom-struggle trees, paired with smartphone-scannable QR audio-guides.
• The Bamboosteum — houses 43 indigenous and exotic bamboo species, demonstrating their role as carbon-sequestering, renewable bioresources for soil restoration, green infrastructure and sustainable rural crafts.

Conservation Enclaves

Banking and Finance

1. Polymer Banknotes for ₹10 and ₹20

Source: TH

Context The government has approved the introduction of one billion polymer banknotes each of ₹10 and ₹20 for field trials, Finance Minister Nirmala Sitharaman informed the Rajya Sabha in a written reply.

What Was Approved

• The RBI, on the recommendation of its Central Board, sent a proposal to the government under Section 25 of the RBI Act, 1934.
• The proposal covers one billion pieces each of ₹10 and ₹20 polymer banknotes for field trials, and regular issuance in these two denominations after successful completion of field trials.
• Per the RBI, these polymer banknotes are proposed to be issued alongside paper substrate-based banknotes — not as replacements.

The Legal Basis — Section 25

• Section 25 of the RBI Act, 1934 provides that the design, form and material of bank notes shall be approved by the Central Government after consideration of the recommendations of the Central Board of the RBI.
• This is the constitutional division that matters: the RBI has the sole right to issue banknotes in India (Section 22), but the design and material require government approval. The denomination of notes is likewise governed by statute — Section 24 permits notes of ₹2, ₹5, ₹10, ₹20, ₹50, ₹100, ₹200, ₹500, ₹2,000, and other denominations up to ₹10,000 as the Central Government may specify.

Why Polymer Notes

Exam Relevance

RBI Grade B — High relevance. Currency management is a core RBI function and this is precisely the kind of institutional detail Phase II Paper III rewards.

2. Fitch Affirms India's Sovereign Rating at BBB-

Source: TH

Context Fitch Ratings affirmed India's sovereign credit rating at BBB-, the lowest investment grade, and retained its stable outlook, citing robust growth prospects and sound external finance fundamentals — while flagging elevated government debt and lagging structural metrics as rating constraints.

What Fitch Said

Strengths cited

• A robust growth outlook and solid external finance fundamentals.
• A strengthening record of delivering macroeconomic stability and improving policy credibility, which should underpin continued robust growth and enhance resilience — despite near-term headwinds from the energy shock.

Constraints cited

• Still-weak fiscal metrics — high deficits, debt and debt service compared with peers, despite recent consolidation.
• Lagging structural metrics, including governance indicators and GDP per capita.
• Recent protests stemming from the NEET paper leaks may point to rising concerns among youth over employment opportunities, risking fiscal spending pressures over time.

India's Sovereign Ratings

Agriculture

1. National Climate Stack Innovation Challenge

Source: businessline

Context NABARD, with support from the Gates Foundation and Dalberg Advisors, announced the winners of the National Climate Stack Innovation Challenge — a national initiative to advance DiCRA (Data in Climate Resilient Agriculture) as a Digital Public Infrastructure for rural climate resilience.

What It Is

A challenge launched to mobilise India's scientific, academic and innovation ecosystem to develop credible, near-term climate hazard forecasting models and decision-ready applications for agriculture, rural finance, insurance and public planning.

The Winners

Exam Relevance

NABARD Grade A — Highest possible relevance. This is NABARD's own initiative, announced by its Chairman, and touches its core mandate.

Facts To Remember

1. India Donates Five Peacocks to UN Office at Geneva

India donated five peacocks, including a rare white-feathered male, to the United Nations Office at Geneva (UNOG), reviving a historic tradition. The birds were formally handed over by Arindam Bagchi to UNOG Director-General Tatiana Valovaya. The donation highlights India’s natural heritage and environmental commitment.

2. NASA Invites ISRO to Join Moon Base Programme

NASA has invited ISRO to join its Moon Base programme, aimed at returning humans to the Moon and eventually establishing a permanent settlement. The offer was made during the 9th India-US Civil Space Joint Working Group meeting in Bengaluru on August 5–6, 2026. The partnership builds on India’s participation in the Artemis Accords.

3. Prof. Deepak Dhar Wins 2026 Dirac Medal

Renowned Indian theoretical physicist Prof. Deepak Dhar received the prestigious 2026 Dirac Medal from the International Centre for Theoretical Physics (ICTP). He shared the award with Bernard Derrida, Marc Mézard and Haim Sompolinsky. He became the first Indian physicist to receive the Dirac Medal.

4. Sangeet Natak Akademi Fellowship & Awards

The President of India will confer the Sangeet Natak Akademi Fellowships (Akademi Ratna) and Sangeet Natak Akademi Awards (Akademi Puraskar) for 2024 and 2025 at Vigyan Bhawan, New Delhi. Akademi Ratna is the highest honour of the Akademi and is limited to 40 living eminent personalities. The awards recognise outstanding contributions to India’s performing arts.

5. PM Modi Inaugurates ‘Param Pragya’ AI Supercomputing Facility

Prime Minister Narendra Modi inaugurated ‘Param Pragya’, an AI-enabled high-performance supercomputing facility at IIT Delhi’s Sonipat campus. The facility will strengthen research in Artificial Intelligence, data science and advanced computing. The event was held during the 57th convocation of IIT Delhi.

6. ‘Prakriti Gyan Dham’ Eco-Educational Hub Launched in Lucknow

Union MoS Dr. Jitendra Singh dedicated ‘Prakriti Gyan Dham’, an eco-educational hub, to the nation in Lucknow. Developed by CSIR-NBRI, it integrates scientific research, biodiversity conservation, environmental education and botanical heritage. The event also featured the transfer of plant-based technologies to support women-led entrepreneurship.

7. Amit Shah Flags Off ‘Har Ghar Tiranga Yatra’ in Puducherry

Union Home Minister Amit Shah flagged off the Har Ghar Tiranga Yatra in Puducherry to promote the Tricolour as a symbol of national unity and identity. The campaign, launched in 2022 under Azadi Ka Amrit Mahotsav, will also focus on the commemoration of 150 years of Vande Mataram. Shah also presented the President’s Colours to Puducherry Police.

8. 8th India-US Navy EOD Exercise Begins in Kochi

The Indian Navy and US Navy commenced the 8th Explosive Ordnance Disposal (EOD) Exercise 2026 at Kochi from 10–14 August 2026. The five-day exercise aims to improve interoperability and operational cooperation between specialist diving and EOD teams. It includes expert exchanges, cross-training, equipment demonstrations and practical exercises.

9. DPIIT Signs Five MoUs to Strengthen Startup Ecosystem

DPIIT signed five strategic MoUs with Cashfree Payments, Darwin Dynamics, Vultr India, Cars24 and Council for Startup India. The partnerships aim to improve startups’ access to digital infrastructure, technology, mentorship, investment and global markets. The initiative also focuses on strengthening entrepreneurship in Tier-II, Tier-III and rural regions.

10. NeGD and AAERI Launch ‘AAERI Verify’

The National e-Governance Division (NeGD) and Association of Australian Education Representatives in India (AAERI) launched ‘AAERI Verify’ in New Delhi. The platform enables digital verification of documents for Indian students applying to Australian universities. Integrated with DigiLocker, it reduces manual verification time from several days to around 120–240 seconds.

11. CCRAS and BIS Sign MoU for AYUSH Quality Standards

CCRAS signed an MoU with the Bureau of Indian Standards (BIS) to strengthen quality standards, scientific research and conformity assessment in the AYUSH sector. The agreement marks the 100th MoU signed by BIS and its first with an AYUSH organisation. It aims to establish globally recognised standards for safe and scientifically validated traditional medicine.

12. RBI’s 101st Survey of Professional Forecasters Projects 6.6% GDP Growth

The RBI’s 101st Survey of Professional Forecasters projected India’s real GDP growth at 6.6% for FY27, up from 6.5% in the previous survey. Growth is projected at 7.0% for FY28. The survey also estimated real GDP growth at 6.8% in Q1 FY27.

13. IndusInd Bank and EazyDiner Launch Lifetime-Free RuPay Credit Card

IndusInd Bank and EazyDiner launched the EazyDiner IndusInd Bank Platinum RuPay Credit Card. The lifetime-free card can be linked with UPI applications and offers dining, entertainment and other rewards. Customers can avail benefits without paying annual or joining fees.

14. Indel Remit Gets Perpetual AD-II Licence from RBI

Indel Remit, the foreign exchange arm of Indel Money, received a perpetual Authorised Dealer-II (AD-II) licence from the RBI. The licence expands its ability to provide foreign exchange and trade-remittance services. The facility will particularly benefit MSMEs, traders and business executives.

15. Rahul Navin Gets One-Year Extension as ED Director

The Appointments Committee of the Cabinet approved a one-year extension for Rahul Navin, Director of the Enforcement Directorate. His tenure has been extended until 13 August 2027 or until further orders. Navin, a 1993-batch IRS officer, has held several key positions in the ED since joining it as Special Director in 2019.

16. Astrobase Unveils India’s First Private 800 kN FFSC Rocket Engine

Indian deep-tech startup Astrobase Space Technologies unveiled ‘EVEREST’, an 800 kN Full-Flow Staged Combustion (FFSC) rocket engine. The LOX–methane engine is designed for reusable medium-lift launch vehicles and orbital missions. The company plans full-scale hot-fire testing in 2026 and targets its first launch for December 2028.

17. Ariha Pangambam Wins India’s First Senior Women’s Gold in Asian Aerobic Gymnastics

Manipur’s Ariha Pangambam won India’s first-ever individual gold medal in the senior women’s category at the 2026 Asian Aerobic Gymnastics Championships. She scored 19.100 points in the event held in Tagaytay City, Philippines. Thailand’s Chanyapit Manee won silver and Japan’s Mahiro Kishibe won bronze.

18. World Lion Day 2026 – August 10

World Lion Day is observed annually on 10 August to raise awareness about lion conservation and threats to Panthera leo. The day was initiated in 2013 by Big Cat Rescue and co-founded by Dereck and Beverly Joubert. It promotes global efforts to protect lions and their ecosystems.

19. World Biofuel Day 2026 – August 10

World Biofuel Day is observed on 10 August to promote biofuels as renewable alternatives to fossil fuels. In India, the Ministry of Petroleum and Natural Gas has observed the day since 2015. The date commemorates Rudolf Diesel’s demonstration of a diesel engine powered by peanut oil in 1893.

20. PM E-DRIVE Incentive for Electric Two-Wheelers Revised

The Ministry of Heavy Industries amended the PM E-DRIVE Scheme, limiting the incentive for electric two-wheelers to ₹2,500 per kWh, capped at ₹5,000 per vehicle, for April 2025–March 2028. The scheme promotes EV adoption, charging infrastructure and domestic EV manufacturing. It has a total outlay of ₹11,900 crore.

21. GeM Completes 10 Years

Government e-Marketplace (GeM) completed 10 years of operations, with Union Minister Piyush Goyal honouring leading buyers and sellers. GeM launched a nationwide five-digit helpdesk number 14550 and a customised commemorative ‘My Stamp’. The government also highlighted plans to make GeM more AI-enabled and user-friendly.

22. PLFS April–June 2026: Unemployment Rate Rises to 5.4%

The National Statistics Office released the Quarterly PLFS Bulletin for April–June 2026. The unemployment rate for persons aged 15 years and above rose to 5.4%, compared with the previous quarter. Overall LFPR stood at 54.6%, while rural and urban LFPR were 56.9% and 50.2%, respectively.

23. MSME Ministry and DPIIT Sign MoU for GI Products

The Ministry of MSME and DPIIT signed an MoU to accelerate the commercialisation, standardisation and market access of GI products. Under the ‘Bharat GI’ banner, GI producers will be connected with platforms such as ONDC and GeM. The initiative also supports artisans, weavers, producers and the ODOP ecosystem.

24. Agriculture Students Receive Scholarships Through NSP

Union Minister Shivraj Singh Chouhan launched an initiative for scholarship and fellowship disbursement to agriculture students through the National Scholarship Portal. Around ₹21.35 crore was transferred through DBT to more than 6,000 students. The initiative aims to ensure regular and hassle-free financial assistance.

25. NABL Launches Accreditation Scheme for Mobile Food Testing Laboratories

NABL launched India’s first Accreditation Scheme for Mobile Food Testing Laboratories under its Integrated Assessment Programme. The scheme aims to provide reliable and internationally benchmarked food testing services closer to communities. It will strengthen food safety surveillance, speed up regulatory action and improve consumer confidence.

26. MoSPI Signs MoUs with IDEAS and ISI Kolkata

MoSPI signed two MoUs with IDEAS and the Indian Statistical Institute, Kolkata to strengthen data-driven statistical analysis. The collaboration will develop a GDP nowcasting tool and a harmonised indicator framework linking government scheme data with NSS household data. It aims to support evidence-based policymaking under Viksit Bharat @2047.

27. India Donates Five Peacocks to UNOG

India donated five peacocks, including one rare white-feathered male, to the United Nations Office at Geneva. The birds were handed over by Arindam Bagchi to UNOG Director-General Tatiana Valovaya. The donation revives a tradition dating back to 1981, when India had earlier gifted a breeding pair to Geneva.

28. Airtel Business Partners ITI for Digital Transformation

Airtel Business and ITI Limited entered into a strategic partnership to strengthen enterprise digital infrastructure in India. The collaboration covers data centres, sovereign cloud, AI, IoT, cybersecurity and LEO satellite services. It will also support secure connectivity through OFC, GPON, SD-WAN and private 4G/5G networks.

29. Adani Airport City Incorporates Global IFSC Subsidiary

Adani Airport City Limited incorporated AACL Global IFSC Limited, a wholly owned subsidiary under Adani Airport Holdings. The new entity will operate as a Global Treasury Centre under IFSCA regulations. It will undertake permitted treasury and finance-related activities from the International Financial Services Centre.

30. Deepak Dhar Becomes First Indian to Win Dirac Medal

Indian theoretical physicist Prof. Deepak Dhar became the first Indian physicist to receive the Dirac Medal in 2026. The award recognised his pioneering work in statistical mechanics, stochastic processes and complex physical systems. He shared the honour with Bernard Derrida, Marc Mézard and Haim Sompolinsky.

31. V.O.C. Port Becomes First Indian Port with ISO 50001:2018 Certification

V.O. Chidambaranar Port in Tamil Nadu became India’s first port to receive ISO 50001:2018 certification for its Energy Management System. The port also received recognition as a Scope-2 Emission-Free Port, with renewable energy meeting 93.89% of its electricity needs in FY26. The certification promotes efficient and sustainable energy management.

32. Vietnam’s VinSpace Signs SpaceX Launch Deal

Vietnamese aerospace company VinSpace signed an agreement with SpaceX to launch its first satellites through a 2027 Transporter rideshare mission. The partnership will support Vietnam’s indigenous satellite capabilities and reduce launch costs through shared Falcon 9 missions. VinSpace will manage satellite design, testing, launch coordination and in-orbit operations.

33. World Steelpan Day 2026 – August 11

World Steelpan Day is observed annually on 11 August to recognise the cultural importance of the steelpan, the national musical instrument of Trinidad and Tobago. The UN General Assembly adopted the observance through Resolution A/RES/77/316 in 2023. The day promotes the instrument’s cultural heritage and contribution to sustainable development.

Context The Ministry of Textiles is organising 'Srijan: Voices from the Loom' in New Delhi to celebrate the contribution of women weavers to India's handloom heritage.

What It Is

• A special programme recognising the stories, skills and contributions of women weavers engaged in India's handloom sector, giving women artisans a platform to narrate their experiences of resilience, creativity and preservation of traditional weaving practices.
• Organised by: Ministry of Textiles, Government of India.
• Aim: to recognise and amplify the voices of women weavers, celebrate their role in preserving India's weaving traditions, and highlight their contribution to the country's handloom heritage.

Key Features

• Women weaver participation — brings together over 100 women weavers from six handloom clusters.
• First-person narratives — a platform for weavers to share personal journeys, challenges and achievements.
• Celebrating resilience — highlights how women artisans sustain livelihoods while overcoming social and economic challenges.
• Preserving weaving traditions — recognises women's role in transmitting traditional handloom skills and knowledge across generations.
• Anthology release — an anthology documenting the stories, journeys and voices of participating women weavers.

Why Women Weavers

The handloom sector is the largest cottage industry in India and the second largest source of rural employment after agriculture. Its defining demographic fact is that roughly 70% of handloom workers are women — the highest female participation of any Indian industry.

Background: The Handloom Sector

Key schemes

• National Handloom Development Programme (NHDP) — cluster development, marketing, credit and skill support.
• Raw Material Supply Scheme — subsidised yarn.
• Handloom Weavers' Comprehensive Welfare Scheme — insurance cover.
• India Handloom Brand and the Handloom Mark — quality and authenticity certification.
• Handloom Reservation Act, 1985 — reserves specified articles for exclusive production on handlooms.
• Shilp Didi programme for women artisans; Samarth for skilling in textiles.

2. The Indonesian Babirusa

Context Chester Zoo in the UK announced the birth of Rana, a rare babirusa piglet, amid declining wild populations threatened by African swine fever, habitat loss and hunting in Indonesia.

What It Is

The babirusa (genus Babyrousa) — commonly called the "pig-deer" — is one of the oldest living and strangest wild pig species. The name comes from Malay, describing its distinctive look and stag-like upper tusks (babi = pig, rusa = deer).

3. Kerala Renamed Keralam

Context Parliament passed the Kerala (Alteration of Name) Bill, 2026, officially renaming Kerala as Keralam, following a unanimous resolution by the State Legislative Assembly.

What It Is

A Parliamentary law amending the First Schedule of the Constitution to change the official name from Kerala to Keralam — aligning the English legal name with its native Malayalam pronunciation and cultural heritage.

Constitutional Provisions

Procedure to Change a State's Name

1. Initiation and State resolution — typically begins with the State Legislative Assembly passing a resolution requesting the Centre to alter the name.
2. Presidential recommendation — a Bill may be introduced in either House only on the prior recommendation of the President.
3. Reference to the State Legislature — before recommending the Bill, the President refers it to the affected State Assembly to express its views within a specified period.
4. Non-binding State views — consultation is mandatory, but the views expressed are not binding on the President or Parliament.
5. Introduction in Parliament — once the referral period expires or views are received.
6. Passage by simple majority — under Article 4, treated as an ordinary Bill requiring a simple majority in both Houses.
7. Presidential assent and Gazette notification — the Act then modifies the First Schedule.

The key constitutional point: although the First Schedule is part of the Constitution, altering it under Article 3 is expressly excluded from Article 368 by Article 4. Parliament can therefore redraw the map of India by simple majority — a striking feature of India's "indestructible Union of destructible States."

Precedents: Orissa → Odisha (2011), Uttaranchal → Uttarakhand, Pondicherry → Puducherry, United Provinces → Uttar Pradesh, Madras → Tamil Nadu, Mysore → Karnataka.

Practice MCQs

Q1. With reference to the alteration of a State's name, consider the following statements:

a. Article 3 empowers Parliament to change the name of an existing State. b. Such a Bill may be introduced only on the prior recommendation of the President. c. The President must refer the Bill to the affected State Legislature for its views. d. The views expressed by the State Legislature are binding on Parliament.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. Consider the following statements:

a. A law altering the name of a State amends the First Schedule of the Constitution. b. Under Article 4, such a law is not deemed to be a constitutional amendment for the purposes of Article 368. c. It is passed by a simple majority in both Houses of Parliament. d. Odisha was renamed from Orissa through a similar process in 2011.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c) — Statements a, b, c are correct; statement d is wrong because the State Legislature's views are consultative and not binding. Parliament may proceed even if the State disagrees — the basis for describing India as an indestructible Union of destructible States.
2. (d) — All four are correct. The Article 4 exclusion from Article 368 is the most examinable constitutional point.

4. One Herb, One Standard (OHOS) Initiative

Source: News on Air

Context The Ministry of Ayush and the Ministry of Health and Family Welfare renewed their partnership under the 'One Herb, One Standard' initiative for an additional three years.

What It Is

An inter-ministerial collaborative framework to establish unified, scientifically synchronised quality and testing standards (monographs) for medicinal plants used across different systems of medicine in India.

Aim: to eliminate conflicting quality parameters across different pharmacopoeias, establishing single, clear and scientifically reliable standards for medicinal herbs, improving the quality, safety and international credibility of Indian botanical products.

Key Features

• Harmonised quality standards — synchronises testing methods and quality parameters for identical medicinal plants across the Indian Pharmacopoeia (IP) and the Ayurvedic, Siddha, Unani and Homoeopathic (ASU&H) Pharmacopoeias.
• Phase-wise monograph development — builds on 50 single-herb monographs developed in the first phase, initiated in 2022.
• Cross-system integration — applies to single drugs of plant origin used across five recognised systems: Ayurveda, Siddha, Sowa-Rigpa, Unani and Homoeopathy.
• Alignment with global benchmarks — integrates international quality parameters to meet global trade and regulatory demands.
• Streamlined testing protocols — a single reference standard for testing laboratories, regulators and manufacturers, avoiding conflicting analytical requirements.

Exam Relevance

UPSC — Prelims: the babirusa's endemism to four Indonesian islands and Vulnerable status; Article 3 and Article 4 and the simple-majority rule for altering State names; the five AYUSH systems including Sowa-Rigpa, and the distinction between IPC (MoHFW) and PCIM&H (Ayush). Mains: the Kerala renaming supports GS-II answers on federalism and Parliament's power over State identity; OHOS supports GS-III answers on standardisation as a non-tariff trade enabler for AYUSH exports.

NABARD Grade A — OHOS has a real hook: medicinal and aromatic plants cultivation is a rural livelihood, and standardised monographs raise realisation for growers by making the crop export-grade. Connect to the National Medicinal Plants Board.

Banking and Finance

1. UPI at 10: India's Digital Payments Revolution

Source: Indian Express

Context As the Unified Payments Interface completed 10 years of operation, Parliament passed the Taxation and Other Laws (Amendment) Bill, 2026, which amends Section 10A of the Payment and Settlement Systems Act, 2007, removing the statutory prohibition against levying a Merchant Discount Rate on UPI and RuPay debit card transactions.

What UPI Is

• Launched as a pilot in April 2016 by the RBI and NPCI, fully operational from August 2016.
• India's real-time, interoperable mobile payment system, built on the Immediate Payment Service (IMPS) protocol.
• Allows instant bank-to-bank transfers via Virtual Payment Addresses (VPAs) or QR codes.
• Over a decade it has moved from a domestic retail experiment to the backbone of India's digital economy, handling the vast majority of non-cash consumer payments.

Evolution and Growth Drivers

• Early policy vision (2012–13): the RBI's payment vision documents identified IMPS as a foundation for rapid proliferation of mobile merchant and peer-to-person transfers.
• Demonetisation and pandemic (2016 and 2020): both catalysed a structural shift away from cash and cash-on-delivery toward contactless QR payments.
• Private venture capital inflow (2019–2021): large investments into fintech firms such as Paytm and PhonePe expanded Point-of-Sale infrastructure and user acquisition.
• Zero-MDR mandate (2020): following the Nandan Nilekani Committee recommendations on deepening digital payments, the government mandated 0% MDR on UPI and RuPay cards, subsidising low-value transactions up to ₹2,000.

The Proposed MDR Reform

A calibrated, threshold-based MDR is being evaluated, designed to ensure sustainability without discouraging small merchants or individual citizens:

Agriculture

1. Regenerative Farming and Climate Resilience — The Beforest Model

Source: businessline

Context With rainfall becoming increasingly unpredictable and temperatures rising, regenerative agriculture is emerging as a way to strengthen soil, water security, biodiversity and farm resilience. The experience of Beforest, a regenerative land restoration initiative, illustrates the approach.

What It Is

• Beforest, founded in 2018, works at the intersection of agriculture, ecology and climate resilience. It has built six collectives across Kodagu, Hyderabad, Mumbai and Bhopal, spanning about 1,300 acres with 196 members.
• What a collective is — per founder and CEO Sunith Reddy: a group of people bound by a shared commitment to regenerative living who co-own and co-manage a single landscape, with a minimum land requirement of about 100 acres.

The Model at Scale

Asked what would follow if every district adopted the model, Reddy described a sequence that becomes a cycle:

1. Water security is established — the foundation on which everything else stands.
2. Succession progresses — bare soil disappears, green cover thickens, biodiversity climbs.
3. New diversity increases seed dispersal, which accelerates green cover, which attracts more diversity.

Regenerative Agriculture

A set of practices aimed at rebuilding soil health, water cycles and biodiversity rather than merely sustaining current yields. Core practices: minimal tillage, permanent soil cover, crop and species diversity, integration of trees and livestock, and elimination of synthetic inputs.

Distinguish from adjacent concepts:

• Organic farming — defined by the absence of synthetic inputs; certification-based.
• Natural farming (ZBNF/Bharatiya Prakritik Krishi Paddhati) — low-cost, input-free, using on-farm preparations such as jeevamrit.
• Agroforestry — integration of trees with crops or livestock.
• Regenerative agriculture — outcome-defined: is soil organic carbon, water retention and biodiversity improving?

Exam Relevance

NABARD Grade A — Very high relevance for Phase II Paper II. This touches several core areas at once: watershed development (NABARD's flagship, through the Watershed Development Fund), agroforestry, climate-resilient agriculture, and financing gaps in green agriculture. The observation that institutional funding is almost absent from regenerative land restoration is directly a NABARD question — it is precisely the kind of long-gestation, ecology-first investment that commercial lenders avoid and a development bank exists to fund. Connect to NABARD's role with the Green Climate Fund, Adaptation Fund and NAFCC, and to FPO-based aggregation as the smallholder route to the same practices.

2. Precision Agriculture — ICAR's Network Programme

Source: PIB

Context ICAR informed Parliament of its programme of national importance, the Network Programme on Precision Agriculture (ICAR-NePPA), involving 16 ICAR Research Institutes across different domains.

What It Is

• Precision agriculture applies inputs — water, nutrients, pesticides — in the right quantity, at the right place, at the right time, instead of uniformly across a field. The gain comes from matching input to actual need: yield rises and waste falls at the same time.
• ICAR-NePPA develops technologies using sensors, remote sensing (ground, drone, satellite), AI and ICTs, across five domains:

Technologies Developed

• Water and nutrients: sensor-based irrigation, drip fertigation, precision subsurface drip, poly-mulching, raised-bed cultivation, modified raised and sunken conservation beds.
• Machinery and drones: drone-based spraying, AI-enabled precision planters, variable rate fertiliser applicator.
• Controlled environment: low-cost protected cultivation, hydroponics, aeroponics, agrivoltaic farming, agro-aqua land configuration.
• Sensing and quality instruments: SPAD meter 2.0 (leaf chlorophyll), rapid Aflatoxin-B1 detection in maize, IoT cold-room control, AI grain analyser, AI rice-seed quality assessment, image-processing contamination measurement in seed cotton, computer-vision ginning percentage measurement, digital twin-based fruit quality monitoring, and blockchain-enabled banana supply chain traceability.
• Digital tools: the Dweep Microclimate Monitor; a Remote Pilot Training Organisation (RPTO) at Dehradun for UAV training.
• Aquaculture: a tank-based super-intensive precision shrimp farming system yielding 120–150 tonnes/ha/year over three cycles, with smart automation and strict biosecurity.

Facts To Remember

1. Retail Inflation Rises to 19-Month High of 4.45%

India’s retail inflation rose to 4.45% in July 2026, marking a 19-month high. The rise was driven mainly by higher food and fuel prices. The data indicates renewed inflationary pressure on household consumption and the overall economy.

2. President Murmu Gives Assent to Bill Criminalising Insult to Vande Mataram

President Droupadi Murmu gave assent to the Prevention of Insults to National Honour (Amendment) Bill, 2026. The amendment extends legal protection to Vande Mataram, similar to the protection already provided to the national anthem. It criminalises intentional disruption or prevention of its singing.

3. IBM Partners with MIT-Bengaluru and CHRIST University to Establish AI Centres

IBM partnered with MIT Bengaluru and CHRIST University to establish AI-focused centres in India. The centres will promote AI research, advanced computing, innovation and skilling. Key areas include Generative AI, Machine Learning, cybersecurity, LLMs and responsible AI.

4. PMS Bazaar Partners with NDML to Expand SEBI Accredited Investor Certification

PMS Bazaar partnered with NSDL Database Management Limited (NDML) to simplify the SEBI Accredited Investor certification process. The partnership aims to provide end-to-end assistance and faster certification. Eligible investors can benefit from lower investment thresholds and access to sophisticated investment products.

5. SBI Research Projects India’s GDP Growth at 8% for Q1 FY27

SBI Research projected India’s real GDP growth at around 8% in Q1 FY27, higher than the RBI’s 7% estimate. The projection is based on 54 high-frequency indicators covering agriculture, industry and services. Strong consumption, industrial output, services activity and government capital expenditure supported the optimistic outlook.

6. Ambani Family Tops 2026 Hurun India Most Valuable Family Businesses List

The Ambani family, led by Mukesh Ambani, retained the top position with a valuation of ₹25.8 lakh crore. The Birla and Jindal families ranked second and third respectively. The combined value of India’s top 300 family businesses reached ₹138 lakh crore, highlighting their major role in the Indian economy.

7. Hungary Elects András Baka as President

The Hungarian Parliament elected former Supreme Court chief András Baka as the country’s new President. He secured 140 votes in favour and 6 against. He is scheduled to assume office on 19 August 2026 for a term of up to five years.

8. Indian Navy Launches Next-Generation Offshore Patrol Vessel ‘Shruti’

The Indian Navy launched Shruti, the second of four Next-Generation Offshore Patrol Vessels being built by GRSE, Kolkata. The vessel is part of a ₹9,781-crore NGOPV programme. The project aims to strengthen India’s indigenous warship-building and maritime security capabilities.

9. Skyroot Aerospace Signs Multi-Launch Agreement with HEX20

Skyroot Aerospace signed a Multi-Launch Agreement with HEX20 for three dedicated Vikram-series missions. The missions will support Earth observation, payload demonstrations and rideshare opportunities. Launches are scheduled to begin from Q4 2027.

10. Don Nelson, Five-Time NBA Champion, Passes Away

Legendary American basketball coach Don Nelson passed away at the age of 86. He won five NBA championships as a player with the Boston Celtics and later coached for 31 years. He recorded 1,335 regular-season wins and was inducted into the Basketball Hall of Fame in 2012.

11. Nuclear Scientist M.P. Parameswaran Passes Away at 91

Renowned Indian nuclear scientist, writer and science communicator M.P. Parameswaran passed away at the age of 91. He worked at BARC and later became closely associated with the Kerala Sastra Sahitya Parishad. He made major contributions to science popularisation, literacy movements and environmental awareness.

12. PM Modi Releases Ram Nath Kovind’s Autobiography

Prime Minister Narendra Modi released former President Ram Nath Kovind’s autobiography, Triumph of the Indian Republic: My Life, My Struggles. Published by Rupa Publications, the book covers Kovind’s early life, legal career, public service and tenure as India’s 14th President. It also highlights perseverance, education and democratic values.

13. International Youth Day 2026 – August 12

International Youth Day is observed annually on 12 August to highlight youth contributions and address issues affecting young people. The 2026 theme is “Different Contexts, Common Aspirations.” The first official observance was held in 2000.

14. World Elephant Day 2026 – August 12

World Elephant Day is observed on 12 August to promote elephant conservation and protection. It was first observed in 2012 and was conceptualised by Patricia Sims, Michael Clarke and Sivaporn Dardarananda. Elephants are the world’s largest land animals and have a gestation period of around 22 months.

15. Gujarat Approves ₹20 Crore for Four Centres of Excellence in Natural Farming

The Gujarat Government approved ₹20 crore for 2026–27 to establish four Centres of Excellence for natural farming. The centres will be located in Navsari, Morbi, Bhavnagar and Chhota Udepur. They will provide farmers with training, technology support, soil testing, value addition and post-harvest facilities.

16. National Biodiversity Authority Releases ₹15 Crore ABS Proceeds

The National Biodiversity Authority (NBA) released over ₹15 crore under the Access and Benefit Sharing (ABS) mechanism from mustard genetic resources. The amount will be distributed among 26 State Biodiversity Boards and 3 Union Territory Biodiversity Councils. The move supports fair sharing of benefits arising from the use of biological resources.

17. Ahilyabai Holkar Remembered on Her Death Anniversary

Union Home Minister Amit Shah and Defence Minister Rajnath Singh paid tributes to Ahilyabai Holkar on her death anniversary. She is remembered for her major contributions to the preservation and restoration of heritage sites. Her legacy also includes social welfare and public works across India.

18. ‘Srijan: Voices from the Loom’ to Celebrate Women Weavers

The Ministry of Textiles will organise ‘Srijan: Voices from the Loom’ to celebrate women involved in India’s handloom sector. The programme will highlight their journeys, contributions and experiences. It aims to recognise the important role of women in preserving India’s weaving heritage.

19. Gramin Gyan Setu App Launched in Gandhinagar

Union Home Minister Amit Shah launched the Gramin Gyan Setu app through video conferencing. The app aims to integrate libraries across the Gandhinagar Lok Sabha constituency of Gujarat. It is designed to improve access to library resources and strengthen knowledge-sharing among communities.

20. Vriksh Mitra Parivar Launches Nationwide Plantation Drive

More than 50,000 saplings were planted across India on the occasion of Hariyali Amavasya. The campaign was conducted under the ‘Ek Ped Maa Ke Naam’ initiative. The plantation drive was led by Agriculture and Rural Development Minister Shivraj Singh Chouhan in collaboration with Vriksh Mitra Parivar.

21. Railways Approves Kavach 4.0 for 660 Route Kilometres

Indian Railways approved the installation of Kavach Version 4.0 on 660 route kilometres of the Izzatnagar Division of North Eastern Railway. The project has an estimated cost of ₹295 crore. Kavach is aimed at improving railway safety through an indigenous automatic train protection system.

22. India Home to Over 60% of World’s Wild Asian Elephants

Prime Minister Narendra Modi highlighted India’s role in elephant conservation on World Elephant Day. India is home to over 60% of the world’s wild Asian elephants. The statement underlined the importance of elephants in India’s ecological heritage and conservation efforts.

23. India-Nepal Sign MoUs for Eight Development Projects

India and Nepal signed MoUs for eight development projects covering education, health and agriculture. The projects will be implemented using Indian grant assistance. The initiatives aim to strengthen development cooperation and people-centric partnership between the two countries.

24. India Hosts Nearly 60% of World’s Wild Asian Elephants

Minister of State for Environment, Forest and Climate Change Kirti Vardhan Singh highlighted India’s importance in Asian elephant conservation. Nearly 60% of the world’s wild Asian elephants live in India. He described the country as a living symbol of the elephant’s ecological heritage.

25. MSME Ministry and DPIIT Sign MoU for GI Products

The Ministry of MSME and DPIIT signed an MoU to improve the commercialisation and market access of GI-tagged products. The collaboration seeks to strengthen their presence in domestic and global markets. It is expected to support producers and businesses associated with India’s Geographical Indication products.

26. India-US Navy EOD Exercise 2026 Begins

The Indian Navy-US Navy Explosive Ordnance Disposal (EOD) Exercise 2026 began at the Southern Naval Command in Kochi. The bilateral exercise will continue until 14 August 2026. It aims to improve interoperability, operational capabilities and professional cooperation between the two navies.

27. GI-Tagged Mithila Makhana Exported to Australia

For the first time, 18 metric tonnes of GI-tagged Mithila Makhana were exported from Bihar to Australia. The consignment was procured directly from farmers in Darbhanga. The export marks an important step in expanding international markets for Bihar’s GI-tagged agricultural products.

27. India–SACU Preferential Trade Agreement

India and the Southern African Customs Union (SACU) signed the Terms of Reference (ToR) to begin negotiations for a Preferential Trade Agreement (PTA). This is India’s first ToR signing with the African region.

About SACU: SACU is the oldest customs union in the world, established in 1910, with its secretariat in Windhoek, Namibia. It has five members — South Africa, Botswana, Namibia, Lesotho and Eswatini.

Daily Current Affairs Quiz14 August , 2026

Daily Current Affairs for NABARD Grade A and RBI Grade B 2026 covering the most important developments in Indian Economy, Banking, RBI, Agriculture, Rural Development, Government Schemes, Financial Markets, Reports & Indices, International Relations, Environment and Science & Technology.

1. Agriculture Current Affairs in News

1. IIHT SUTRA 2026 Conclave on Handloom Technology

Union Minister Giriraj Singh inaugurated IIHT SUTRA 2026, the first national conclave of Indian Institutes of Handloom Technology. Held under the theme "Weaving the Future of the Indian Handloom Sector – Educate. Innovate", it focused on education, research, skills and innovation. MoUs were signed with Grasim Industries, NITRA and IIM Sambalpur.

2. 'Srijan: Voices from the Loom' Celebrates Women Weavers

The Ministry of Textiles organised 'Srijan: Voices from the Loom' to recognise the contribution of women weavers to India's handloom heritage. The event highlighted their personal journeys, achievements and role in sustaining traditional weaving. An anthology featuring the stories and experiences of women weavers was also released.

3. PCIM&H and IPC Renew MoU for 'One Herb, One Standard'

The Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H) and Indian Pharmacopoeia Commission (IPC) renewed their MoU for the 'One Herb, One Standard' initiative. The programme aims to establish uniform quality standards for medicinal plants used across different Indian systems of medicine. The renewed agreement will also support international quality alignment and exports.

4. Three New Cascade Frog Species Discovered in Northeast India

Scientists led by Prof. S. D. Biju of the University of Delhi discovered three new cascade frog species in Northeast India. They are Ammachi's Cascade Frog, Sendenyu Cascade Frog and Beautiful Cascade Frog. The discovery was based on extensive fieldwork, DNA sequencing and morphological studies, highlighting India's rich amphibian biodiversity.

2. Schemes in News

1. Gaj Gaurav Awards 2026

Source: TH

Context During national celebrations of World Elephant Day 2026 at Visakhapatnam, the Union Minister of State for Environment, Forest and Climate Change conferred the Gaj Gaurav Awards 2026.

What is the Gaj Gaurav Award?

India's national honour for outstanding contributions and frontline service in Asian elephant conservation and management.

2026 Winners

• Jaldapara National Park, West Bengal — 7 mahouts, for courage during the severe Torsha and Malangi river floods: Bikash Kharia (stayed back in strong currents to guide stranded kumki — trained — elephants to safety), Rajiv Oraon (secured five captive elephants during flash floods), Ajibul Haque, Ajit Gabur, Mumtaz Alam, Amasur Kheriya, Dilip Munda.
• Namdapha National Park and Tiger Reserve, Arunachal Pradesh — 2 caregivers, the only recipients from the Northeast: Ganesh Tamang (Senior Mahout, over 26 years of service) and Sumit Gogoi (Elephant Attendant, 5 years).

Project Elephant

• Launched 1992 as a Centrally Sponsored Scheme
• India holds about 60% of the world's wild Asian elephants
• The Asian elephant is Endangered on the IUCN Red List and listed in Schedule I of the Wild Life (Protection) Act, 1972
• It is India's National Heritage Animal (declared 2010)
• 33 Elephant Reserves across the country
• Gaj Yatra is the awareness campaign for corridor protection
• MIKE — Monitoring the Illegal Killing of Elephants — is the CITES programme India participates in

2. Small Modular Reactors (SMRs)

Source: Business Standard

Context Under the newly launched Nuclear Energy Mission, the Government informed the Lok Sabha that it plans to develop and operationalise at least five indigenous Small Modular Reactors by 2033. This supports India's goal of 100 GWe of nuclear capacity by 2047.

What is a Small Modular Reactor?

An advanced nuclear reactor with lower electrical output than conventional gigawatt-scale plants. As defined by the IAEA, an SMR typically produces up to 300 MWe per unit.

• The SHANTI Act, 2025 enables private sector participation in nuclear technology manufacturing and deployment — the change that makes SMR scale-up possible.
• Aim: deliver clean, flexible, low-carbon baseload electricity and industrial heat, while cutting initial capital cost, construction time and land requirement compared with large nuclear plants.

How SMRs Work

1. Nuclear fission — heavy nuclei such as Uranium-235 are split in a controlled chain reaction to produce heat
2. Modular factory fabrication — major components are built in centralised factories and shipped to site for rapid assembly, instead of a decade of site-specific civil construction
3. Heat conversion — the heat produces steam to drive turbines, or is used directly for high-temperature industrial processes

3. Reports / Articles in News

1. NITI Aayog Report on Key Sectors for Global Manufacturing Hub

Source: PIB

Context NITI Aayog has released a report titled "Key Sectors to Position India as a Global Manufacturing Hub." It uses a structured, data-driven framework to identify sectors that can drive India's ambition to become a global manufacturing powerhouse. This edition covers four sectors — Chemicals, Textiles, Telecom and Networking Equipment, and Solar Photovoltaic manufacturing — with reports on eight more sectors to follow.

What the Report Does

• The assessment looks at India's manufacturing position against global trends, sectoral growth opportunities and global benchmarks. It examines seven factors that decide whether a country can compete in manufacturing.
• The aim: find sectors where India has real growth potential and where targeted action can strengthen domestic capability, raise competitiveness and value addition, and accelerate export-oriented manufacturing.

Key Highlights:

Sector 1: Chemicals

• Main areas: Petrochemicals, specialty chemicals and inorganic chemicals.
• India should increase downstream production of higher-value products.
• Focus on domestic manufacturing, better use of raw materials and strategic FTAs to reduce imports.

Sector 2: Textiles

• Contributes about 2% of GDP, 11% of manufacturing GVA and 9% of merchandise exports.
• Employs over 45 million people and exports about $37.7 billion annually.
• Focus on MMF, technical and sustainable textiles, along with better raw materials, infrastructure, skills and technology.
• India needs to reduce its dependence on cotton and match the growing global demand for man-made fibres.

Sector 3: Telecom Equipment

• India is the world's second-largest telecom market, with over 1.2 billion subscribers.
• Main issue: India is a large market but depends heavily on imported components.
• Focus on local component production, technology transfer, industrial clusters, R&D and exports.

Sector 4: Solar PV

• Solar capacity stood at 106 GW in March 2025, with a target of 280 GW by 2030.
• India has strong module production but still imports many cells and wafers.
• Build the full chain: polysilicon → wafers → cells → modules through technology, R&D, investment and skilled workers.

Common Theme

India needs to move beyond basic production and assembly and capture more value within the country. The focus is on domestic value addition, lower import dependence and stronger global competitiveness.

Practice MCQs

Q1. With reference to the NITI Aayog report on key manufacturing sectors, consider the following statements:

a. It covers chemicals, textiles, telecom and networking equipment, and solar photovoltaic manufacturing.
b. The study was structured into four phases, beginning with shortlisting sectors by relative attractiveness.
c. Reports on eight more sectors are to follow.
d. The report assesses only market size and ignores infrastructure and technology readiness.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to India's textile and apparel sector as described in the report, consider the following statements:

a. It contributes about 11 per cent to manufacturing gross value added.
b. It accounts for about 9 per cent of merchandise exports.
c. It employs more than 45 million people and is the second-largest employer after agriculture.
d. India is the second-largest textile exporter in the world.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c) — Statements a, b, c are correct. Statement d is wrong: the report assesses seven factors including infrastructure readiness, technology readiness, raw material availability and India's position in the value chain, not market size alone.
2. (c) — Statements a, b, c are correct. Statement d is wrong: India is the sixth-largest textile exporter globally, with a 4.1% share of global textile and apparel exports.

1. Banking and Finance

1. Amit Shah Inaugurates NUCFDC's New Premises in Mumbai

Union Minister Amit Shah inaugurated the new premises of the National Urban Cooperative Finance and Development Corporation (NUCFDC) in Mumbai. During the 'Sahkar Nav-Kranti' programme, NUCFDC launched Bank in a Box, an integrated technology platform for Urban Cooperative Banks. An MoU with NFSU will also strengthen cybersecurity and digital-forensics support for UCBs.

2. SEBI Accredited Investor Framework 2026

SEBI has proposed changes to its Accredited Investor Framework, including allowing investment managers to certify an investor's status during onboarding. It has also proposed adding securities market assets as a qualifying criterion. Accredited investors may receive benefits such as lower investment thresholds and access to products with greater regulatory flexibility.

3. Bank of America to Acquire 49.9% in Jio Credit

Bank of America and Jio Financial Services entered into a joint venture agreement under which BofA may acquire up to 49.9% stake in Jio Credit for around ₹18,268 crore. Initially, BofA will acquire a 26.5% stake through preferential allotment. The partnership is expected to provide Jio Credit with additional capital and global expertise in financial services and risk management.

5. MCX and NISM to Establish Commodity Markets Research Centre

Multi Commodity Exchange of India (MCX) and NISM signed an MoU to establish a dedicated Commodity Markets Research Centre. The centre will focus on research, training and awareness in India's commodity derivatives market. Its activities will include policy research, white papers, doctoral fellowships, faculty programmes and training on hedging and risk management.

1. Economy in News

1. India–SACU Sign ToR for Preferential Trade Agreement

India and the Southern African Customs Union (SACU) signed Terms of Reference for negotiations towards a Preferential Trade Agreement (PTA). It marks India's first ToR with the African region and aims to expand trade in pharmaceuticals, automobiles, textiles, engineering goods and agriculture. SACU is the world's oldest customs union, established in 1910, with five members.

2. CSL Delivers 'MS Maria' to German Shipping Company

Cochin Shipyard Limited (CSL) delivered MS Maria, the second of eight HS EcoFreighter multi-purpose vessels, to Germany-based HS Schiffahrts. The vessel has a 7,000 DWT capacity and is designed for worldwide trade. It can carry diverse cargo including containers, steel coils, timber, dry bulk and project cargo.

3. Former Chinese Premier Zhu Rongji Passes Away at 97

Former Chinese Premier Zhu Rongji passed away at the age of 97. He served as China's Premier from 1998 to 2003 and played an important role in economic reforms, including restructuring state-owned enterprises and strengthening fiscal and financial systems. He also played a key role in China's WTO accession in 2001.

2. Social Issue in News

1. Joint Parliamentary Committee (JPC)

Source: Indian Express

Context The Lok Sabha referred the Foreign Contribution (Regulation) Amendment Bill, 2026 to a Joint Parliamentary Committee, following strong objections from Opposition parties and civil society.

What is a JPC?

An ad hoc (temporary) parliamentary committee set up for detailed, clause-by-clause examination of a controversial Bill, a complex legislative proposal, or a major financial or governance issue.

Key Functions

• Clause-by-clause scrutiny to identify administrative, legal or constitutional loopholes
• Summoning power — may call for official records and papers, and summon officials, experts and stakeholders
• Public consultation — invites written submissions and holds oral hearings with affected organisations, industry bodies and civil society
• Recommendations and dissent — prepares an advisory report; dissenting members may append formal Notes of Dissent

Practice MCQs

Q1. With reference to a Joint Parliamentary Committee, consider the following statements:

a. It is not explicitly mentioned in the Constitution of India.
b. It is constituted when a motion moved in one House is adopted and concurred with by the other.
c. Its chairperson is appointed by the Speaker of the Lok Sabha.
d. It is a permanent committee that continues across Parliaments.

How many are correct? (a) One (b) Two (c) Three (d) All four (e) None

Answer Key

1. (c) — a, b, c correct. Statement d is wrong: a JPC is an ad hoc committee, dissolved automatically once it submits its report — unlike standing committees, which are reconstituted annually.

3. Misc GA in News

1. Sumit Sarkar, Eminent Historian, Passes Away at 87

Eminent Marxist historian Sumit Sarkar, a noted scholar of modern Indian history, passed away at the age of 87 in New Delhi. He taught history at the University of Delhi and was a Fellow of Wolfson College, Oxford. He was also a visiting professor at several universities in the US and Europe.

2. India–Malaysia Exercise Udara Shakti 2026

The Indian Air Force (IAF) and Royal Malaysian Air Force (RMAF) commenced the third edition of bilateral Exercise Udara Shakti 2026 in Malaysia. The exercise focuses on improving interoperability, operational coordination and defence cooperation. India deployed Rafale fighters and C-17 aircraft, while Malaysia participated with Su-30MKM, F/A-18D and A400M aircraft.

3. International Left-Handers Day 2026 – August 13

International Left-Handers Day is observed annually on 13 August to celebrate left-handed people and highlight the challenges they face. The day was conceptualised by Dean Robert Campbell in 1976 and officially launched by the Left-Handers Club in 1992. It promotes greater awareness of left-handedness in a predominantly right-handed world.

Daily Current Affairs Quiz15 August , 2026

Daily Current Affairs for NABARD Grade A and RBI Grade B 2026 covering the most important developments in Indian Economy, Banking, RBI, Agriculture, Rural Development, Government Schemes, Financial Markets, Reports & Indices, International Relations, Environment and Science & Technology.

1. Agriculture Current Affairs in News

1. Black-necked Crane

Context The Bombay Natural History Society (BNHS), working with the Indian Army and local authorities, has sterilised over 2,950 free-ranging dogs in Ladakh since 2022 to reduce predation on the Black-necked Crane and its chicks.

What is the Black-necked Crane?

The only exclusively alpine species among the world's 15 crane species.

2. Fertiliser Subsidy Rises Despite Low Nutrient-Use Efficiency

• India is spending more on fertiliser subsidies, while only around 40% of applied nutrients are absorbed by crops.
• Unused nutrients can cause:
  • Groundwater contamination
  • Air pollution
  • Nutrient wastage
  • Higher subsidy burden
• The issue highlights the need to improve Nutrient-Use Efficiency (NUE).

2. Schemes in News

1. PM Vishwakarma Scheme 2.0

Source: Business Standard

Context The Centre is likely to launch the second phase of the PM Vishwakarma scheme on 17 September, with a sharper focus on improving credit access and market linkages for traditional artisans and craftspeople. The date is observed as Vishwakarma Jayanti and is also the Prime Minister's birthday.

What is the PM Vishwakarma Scheme?

• Launch Year: 2023
• Type: Central Sector Scheme
• Nodal Ministry: Ministry of Micro, Small & Medium Enterprises (MSME)

Eligibility

• Traditional artisans and craftsmen above 18 years of age.
• Covers 18 identified traditional trades.

A scheme providing holistic, end-to-end support to traditional artisans and craftspeople through:

• Collateral-free credit
• Skill training
• Modern tools
• Incentives for digital transactions
• Market-linkage support

2. PM Surya Ghar Muft Bijli Yojana

Source: The Hindu

Context Several States, including Uttar Pradesh, Andhra Pradesh and Bihar, are giving financial aid to households that cannot afford rooftop solar installations — as a way to cut the revenue losses they incur from subsidising electricity.

What is PM Surya Ghar: Muft Bijli Yojana?

• Launch: February 2024
• Nodal Ministry: Ministry of New and Renewable Energy (MNRE)
• Type: Central Sector Scheme

About the Scheme

• PM Surya Ghar: Muft Bijli Yojana is a major rooftop solar scheme for households.
• It aims to promote residential rooftop solar installations and reduce household electricity bills.
• The scheme targets 1 crore households by March 2027.
• Households can get up to 300 units of free electricity per month through rooftop solar generation.

Implementation

• National Level: National Programme Implementation Agency (NPIA)
• State Level: State Implementation Agencies (SIAs)

3. Shakti Ki Saptadhara: Seven Streams of India's Growth Explained

Context The Prime Minister, in his Independence Day address on 15 August 2026, outlined "Shakti Ki Saptadhara" — seven streams of national strength that can drive India towards Aatmanirbharta and Viksit Bharat.

What is Saptadhara?

• Saptadhara means seven streams. It refers to the seven strategic areas of India's growth and national strength identified by the Prime Minister from the Red Fort.
• It brings together manufacturing, agriculture, technology, infrastructure, defence, the green and blue economy, and soft power as interconnected pillars for India's next phase of development.

The Seven Streams

1. Manufacturing: Make India a global manufacturing and supply-chain hub by improving cost, quality, scale and precision, including domestic component production.
2. Farming & Food Processing: Connect Indian farms to global markets and promote millets, spices, fruits, vegetables and traditional foods as global brands.
3. Technology & Innovation: Develop India as a hub for data centres, robotics, emerging technologies, next-gen communication and 6G, building on UPI and DPI.
4. Gati Shakti & Connectivity: Improve multimodal connectivity through roads, expressways, high-speed rail and ports to reduce logistics costs.
5. Raksha Shakti: Promote Aatmanirbhar defence manufacturing, especially drones and next-generation defence technologies, and make India a global defence supplier.
6. Green & Blue Economy: Lead in green hydrogen, renewables and energy storage, while expanding fisheries, coastal tourism and ocean technologies.
7. Soft Power: Strengthen India's global cultural influence through Yoga, handicrafts, films, animation, gaming, digital content and tourism.

1. Banking and Finance

1. Pradhan Mantri Jan Dhan Yojana (PMJDY) Completes 12 Years

Source: The Hindu

Context The Pradhan Mantri Jan Dhan Yojana (PMJDY) has completed 12 years. Announced by the Prime Minister from the Red Fort on 15 August 2014, the scheme has crossed 58 crore accounts with deposits of about ₹3 lakh crore, and became the first layer of India's JAM trinity and wider digital public infrastructure.

What is PMJDY?

• Launch Date: 28 August 2014
• Type: National Mission for Financial Inclusion
• Nodal Ministry: Ministry of Finance
• Implementing Agency: Department of Financial Services (DFS)

Objective

• To ensure universal access to banking services for every household.
• To provide affordable financial services such as:
  • Savings accounts
  • Remittance facilities
  • Credit
  • Insurance
  • Pension services

Key Features of PMJDY

• BSBDA: Zero-balance savings account with interest and basic banking facilities.
• RuPay Debit Card: Free RuPay card with accident insurance cover.
• Overdraft: Up to ₹10,000, subject to eligibility.
• DBT: Direct transfer of government subsidies and benefits.
• Insurance: Accident cover and life insurance for eligible account holders.
• Mobile Banking: Access to banking services through mobile and digital platforms.

2. RBI Closes FCNR(B) Swap Window

Source: IE

Context The Reserve Bank of India has decided to close its swap facility for FCNR(B) deposits one month ahead of schedule, after banks mobilised $52.3 billion under the scheme by 13 August. The decision comes barely a week after Governor Sanjay Malhotra said on 5 August that there was no proposal to withdraw the scheme.

What is an FCNR(B) Deposit?

• FCNR(B) stands for Foreign Currency Non-Resident (Bank) deposit.
• It is a term deposit held in foreign currency by a non-resident Indian with an Indian bank. Both the principal and interest are paid in the same foreign currency, so the depositor faces no rupee conversion risk.

What is the Swap Window?

Launched on 8 June 2026, the facility lets banks swap the foreign currency they raise through FCNR(B) deposits with the RBI.

How it works:

• The bank collects dollars from NRI depositors
• It sells those dollars to the RBI and receives rupees
• At maturity, the transaction reverses at the same exchange rate
• RBI bears the full hedging cost. Because the exchange rate is fixed at both ends, the bank carries no currency risk.
  That is what allows banks to offer attractive interest rates to NRI depositors.

3. L&T to Build NVIDIA B300 AI Factory in Chennai

• Larsen & Toubro (L&T) secured a ₹10,000–15,000 crore order to build a large AI computing facility for Together AI.
• The facility will be located at L&T's Chennai data-centre campus.
• It will deploy 10,000 NVIDIA B300 GPUs.
• The facility will support AI training, inference and model fine-tuning.

4. NCLT Launches e-Inspection and e-Certified Copy Services

• The National Company Law Tribunal (NCLT) launched e-Inspection and e-Certified Copy Services.
• Users can digitally inspect case records and obtain certified copies through the NCLT e-Filing portal.
• The initiative is part of the e-Courts 2.0 programme.
• It aims to reduce physical visits and improve the speed, transparency and accessibility of judicial records.
• NCLT was established on 1 June 2016 under the Companies Act, 2013.

1. Reports in News

1. US Transshipment Report

Source: IE

Context The White House Office of Trade and Manufacturing Policy has named India among more than 40 countries and trading jurisdictions exposed to Chinese-linked transshipment risks, in a report titled 'The Great Transshipment Scam'. India has been placed in Tier-1 of what the report calls China's Shadow Transshipment Network.

What is Illegal Transshipment?

The report defines it as routing goods through a third country where they undergo:

• Minor processing
• Relabelling
• Repackaging
• Re-invoicing
• Changes in paperwork

The Three Tiers

Read Tier 1 carefully. India is not placed there for weak enforcement or close integration with China. It is placed there because its trade with the US is so large that suspect flows can hide inside legitimate ones. That is a very different accusation — and a much harder one to disprove.

Corridors named in the report:

2. WIPO Report: India Ranks Fifth in Generative AI Patent Filings

Source: Business Standard

Context India ranks fifth globally in generative AI (GenAI) patent filings, driven by a 64% compound annual growth rate between 2024 and 2025, according to a report by the World Intellectual Property Organization (WIPO), a specialised agency of the United Nations.

What the Report Shows

The push for patents illustrates how companies are moving from experimentation to large commercial deployment of AI.

India's numbers:

• Published 929 GenAI patents in 2024 and 2025 alone
• That equals nearly 70% of the 1,350 patents India published over the entire previous decade (2014–2023)

Global Rankings

The Countries Closing In on India

Those ranked below the top five are narrowing the gap as they accelerate patenting:

• Germany — sixth
• United Kingdom — eighth
• Canada and Switzerland

India's fifth place is therefore not secure. Its 2% share is small in absolute terms, and countries behind it are growing faster than the gap allows for comfort.

2. Economy in News

1. BHEL and Hystar Collaborate on PEM Electrolysers

• BHEL and Norway-based Hystar AS entered into a strategic collaboration for PEM electrolyser manufacturing in India.
• PEM stands for Proton Exchange Membrane.
• The partnership will promote green hydrogen, indigenous manufacturing and clean-energy technology.
• BHEL will now offer both PEM and alkaline electrolyser solutions.
• The collaboration supports the National Green Hydrogen Mission.

2. Andaman & Nicobar Plans Green AI/Data Centre

• The Andaman and Nicobar Administration invited proposals for a private-sector-led Green AI/Data Centre.
• Campbell Bay in Great Nicobar is one of the potential locations.
• The project aims to develop sustainable AI and data-centre infrastructure in the islands.

3. Social Issue in News

1. India Celebrates 80th Independence Day

• India celebrated its 80th Independence Day on 15 August 2026 at the Red Fort, New Delhi.
• PM Narendra Modi delivered his 13th consecutive Independence Day speech.
• The celebrations focused on:
  • 150 years of Vande Mataram
  • "Yuva Shakti – Leading the Journey to Viksit Bharat@2047"
• Modi became the 2nd PM after Jawaharlal Nehru to deliver 13 consecutive Independence Day speeches.

4. Misc GA in News

1. India Approves First Fully Commercial Earth Observation Satellite Constellation

• IN-SPACe approved India's first fully commercial Earth Observation (EO) satellite constellation under the PPP model.
• The consortium is led by PixxelSpace India and includes Dhruva Space, PierSight Space and SatSure Analytics.
• The constellation will consist of 12 satellites.
• It will use panchromatic, multispectral, hyperspectral and SAR technologies.
• Investment: Over ₹1,200 crore
• Expected operationalisation: 2029

2. Shaurya Chakra Awardees 2026

• 19 personnel received the Shaurya Chakra.
• Awardees included:
  • 11 Army personnel
  • 1 Navy personnel
  • 1 Air Force personnel
  • 6 Police and Central Armed Forces personnel
• Lance Naik Narender Sindhu of 9 Rashtriya Rifles received the award posthumously.

Daily Current Affairs Quiz16 & 17 August , 2026

1. Schemes in News

1. Reform Utsav: Citizen-Driven Governance Reform Campaign

Source: Indian Express

Context The Union Government plans to launch a three-month "Reform Utsav" campaign, likely from 2 October 2026, to systematically capture citizens' suggestions and turn them into actionable governance reforms.

What is Reform Utsav?

• A citizen-driven governance reform campaign that aims to create an institutional mechanism through which citizen feedback is identified, deliberated upon and converted into implementable reforms.
• The core idea: establish a continuous pipeline connecting
• Citizen voice → actionable reform → implementation or committed roadmap
• Aim: to institutionalise citizen participation in governance and create a responsive mechanism for identifying, prioritising and implementing administrative and structural reforms.

The Three Stages

• Jan Manthan – Discover
  • Citizens submit reform suggestions through a portal, meetings, webinars and outreach.
  • AI will classify and organise suggestions.
  • A multilingual call centre may improve accessibility.
• Vimarsh – Deliberate
  • Evaluate suggestions to identify quick-win reforms.
  • Prepare roadmaps for structural reforms.
• Samadhan & Sankalp Siddhi – Resolution
  • A coordination committee will conduct bi-weekly reviews.
  • Track implementation and progress of reforms.

2. Gaj Gaurav Awards 2026

• The Ministry of Environment, Forest and Climate Change (MoEFCC) conferred the Gaj Gaurav Awards 2026 during World Elephant Day celebrations in Visakhapatnam.
• 7 mahouts and elephant handlers from Jaldapara National Park, West Bengal were honoured.
• They rescued six stranded captive elephants and helped move 13 wild one-horned rhinoceroses to safer areas during severe floods.

3. Karnataka Approves Sandhya Kiran Scheme

• The Karnataka Cabinet approved the Sandhya Kiran Scheme for state pensioners below 70 years and their families.
• It is a contributory cashless healthcare scheme under Ayushman Bharat–Arogya Karnataka (AB-ArK).
• Around 4.93 lakh beneficiaries will be covered.
• The scheme provides ₹5 lakh annual family health cover.
• It covers secondary, tertiary and emergency treatment at empanelled hospitals.

2. Reports / Articles in News

1. Green India Mission

Source: The Hindu

Context The Comptroller and Auditor General (CAG) has flagged major shortcomings in the Green India Mission (GIM) — inadequate funding, weak coordination between government schemes, poor monitoring, and failure to meet key targets for improving forest cover and its quality.

What is the Green India Mission?

Objectives

• Improve ecosystem services — biodiversity, water and carbon sequestration
• Increase forest-based livelihoods

Targets:

• Increase forest and tree cover over 5 million hectares
• Improve the quality of forest and tree cover over another 5 million hectares

1. Banking and Finance

1. FAST-DS: Foreign Assets Disclosure Scheme for Small Taxpayers

Source: IE

Context The Income Tax Department has notified a new voluntary disclosure scheme allowing small taxpayers to declare certain undisclosed foreign assets and income by paying an effective 60% tax. The scheme lets eligible individuals come clean without facing further penalties or prosecution.

What is FAST-DS?

A limited-period voluntary disclosure scheme allowing eligible taxpayers to declare undisclosed foreign assets, undisclosed foreign income or undeclared foreign assets by paying a prescribed tax or fee — and receive immunity from further tax, penalty and prosecution under the Black Money Act.

Who Is Eligible

An assessee is eligible if he is resident in India in the relevant previous year.

A non-resident or RNOR (Resident but Not Ordinarily Resident) may also be eligible if he was resident in India:

• In the year to which the undisclosed income relates, or
• In the year in which the undisclosed asset was acquired

Situations covered:

• Failure to disclose the asset or income in a return filed before the scheme commenced
• Where such asset or income has escaped assessment within the meaning of Section 147 of the Income-tax Act, 1961

Target group: students, young professionals, technology employees and relocated non-resident Indians — cases where overseas assets went unreported because of inadvertence, lack of awareness or a change in residential status.

The Two Categories

2. SEBI Proposes Colour-Coded Credit Risk-o-Meter

• SEBI proposed a mandatory colour-coded Credit Risk-o-Meter for debt securities.
• The aim is to make credit risk easier for investors to understand and compare.
• Existing credit ratings such as AAA, AA+ and BBB- would be converted into 6 visual risk levels.
• The levels range from lowest credit risk to high to very high risk of default.

3. IFSCA Grants Investment Banking Licence to Nexent Capital

• IFSCA granted an Investment Banking licence to Nexent Capital IFSC Pvt. Ltd.
• The company will operate from GIFT City, Gandhinagar, Gujarat.
• It can undertake activities such as IPOs, FPOs, SPAC listings, secondary listings, debt capital market transactions and advisory services.
• The registration was granted under the IFSCA (Capital Market Intermediaries) Regulations, 2025.

1. Economy in News

1. MMDR Amendment Bill 2026

Source: PIB

Context The Mines and Minerals (Development and Regulation) Amendment Bill, 2026 was introduced in Parliament to establish a uniform, Centre-directed fiscal framework for mining and restrict state-level taxes on mineral rights and mineral-bearing lands.

What the Bill Does

It amends the principal MMDR Act, 1957 to:

• Curb multiple, cascading state levies
• Establish central conditions on mineral taxation

Why now: it responds to the Supreme Court's 2024 nine-judge Constitution Bench ruling in Mineral Area Development Authority (MADA) v. SAIL, which recognised the constitutional power of states to tax mineral rights and mineral-bearing lands, while holding that royalty is not a tax.

Key Features of the Bill

The two clauses that matter most:

• Section 9D does not abolish the state's power to tax — it makes that power conditional on central permission. The state may still levy, but only within limits the Centre sets.
• Section 13 is where those limits will actually be written. The Bill itself does not specify ceilings; it delegates that to executive rules. So the real extent of the restriction will emerge later, through rules rather than legislation.

2. India–Nepal Sign MoUs for 8 Development Projects

• India and Nepal signed MoUs for 8 High Impact Community Development Projects (HICDPs).
• Total estimated cost: NPR 803 million.
• The projects will receive grant assistance from India.
• Focus areas include education, health, agriculture and digital transformation.
• The projects will be implemented across 7 districts in 4 provinces of Nepal.

3. JSW Neo Energy–Bhutan Pact for 920 MW Hydroelectric Project

• JSW Neo Energy and Bhutan's Druk Green Power Corporation (DGPC) signed an agreement to develop the 920 MW Punatsangchhu-III Hydroelectric Project.
• The project is located on the Punatsangchhu River in Bhutan.
• DGPC will hold 51% and JSW Neo Energy 49% in the joint venture.
• The project will be developed on a Build-Own-Operate-Transfer (BOOT) basis.
• It is JSW Neo Energy's first power generation venture outside India.

4. Andhra Pradesh–CSIR-NGRI Pact for Critical Mineral Exploration

• The Andhra Pradesh Government and CSIR-NGRI signed an agreement to explore lithium and gallium deposits in the Kadapa Basin.
• Exploration will focus on the Vempalle region.
• Earlier studies indicated lithium concentrations of up to 1,000 ppm and gallium up to 250 ppm.
• The project has an estimated cost of ₹140 crore and will be fully funded by the National Mineral Exploration Trust (NMET).
• AP also signed an agreement with IIT (ISM) Dhanbad–TEXMiN to establish a Centre of Excellence for mining.

2. Social Issue in News

1. Mahadayi (Mandovi) River: Origin, Course and Tributaries

Source: The Hindu

Context The Environment Ministry informed the Lok Sabha that no Karnataka proposal for environmental clearance of the Mahadayi diversion is under consideration, and that the National Board for Wildlife (NBWL) has not approved forest diversion for the Kalasa Nala scheme in the Kali–Sahyadri tiger corridor.

What is the Mahadayi River?

A west-flowing inter-state river in peninsular India, known as the Mandovi River in Goa. It is the primary lifeline of Goa, flowing through the rugged Western Ghats before discharging into the Arabian Sea.

Origin and Course

Major Tributaries

In Karnataka:

• Kalasa Nala and Banduri Nala — the key streams in Karnataka's Kalasa-Banduri drinking water project

In Goa:

• Bail Nala
• Pansheer Nala
• Andher Nala
• Khandepar River
• Ragada River
• Mapusa River

3. Misc GA in News

1. VIHAAN: India's First Indigenous Broadband Networking Chip

Source: PIB

Context Chennai-based fabless semiconductor startup Aheesa Digital Innovations, supported under MeitY's Design Linked Incentive (DLI) Scheme, has achieved first-pass silicon success for its indigenous broadband networking System-on-Chip (SoC) named 'VIHAAN'.

What is VIHAAN?

India's first domestically designed broadband networking System-on-Chip (SoC).

Aim: deliver high-performance, domestically designed telecom silicon for Fibre-to-the-Home (FTTH) deployments and broadband routers across Indian households and businesses, reducing reliance on imported foreign networking chips.

Key Terms

• System-on-Chip (SoC) — a single chip that carries the processor, memory controller, networking and security functions together, instead of separate components on a board
• Fabless — a company that designs chips but does not own a fabrication plant; manufacturing is outsourced to a foundry
• First-pass silicon success — the chip worked on its very first fabrication attempt, without needing a redesign
• RISC-V — an open-standard instruction set architecture, free to use, unlike proprietary architectures such as ARM or x86
• CPE (Customer Premises Equipment) — the router or modem installed in a home or office

2. N. Chandrasekaran to Step Down as Tata Sons Chairman

• Natarajan Chandrasekaran will step down as Executive Chairman of Tata Sons after completing his current term on 20 February 2027.
• He became Chairman of Tata Sons in February 2017 and was reappointed in 2022.
• Before becoming Tata Sons Chairman, he served as CEO and MD of TCS from 2009.
• He played a major role in the Tata Group's expansion into areas including aviation, electronics and digital businesses.

3. Kirti Chakra Awardee Major General Sunil Kumar Razdan Passes Away

• He received the Kirti Chakra, India's second-highest peacetime gallantry award.
• Major General Sunil Kumar Razdan (Retd.) passed away on 13 August 2026 at the age of 70.
• He was a Kirti Chakra and Vishisht Seva Medal (VSM) awardee.
• He became the Indian Army's first wheelchair-borne General.
• In a 1994 counter-terrorist operation in Jammu & Kashmir, he led an operation that rescued hostages despite suffering severe injuries.

Daily Current Affairs Quiz | NABARD Grade A & RBI Grade B | Economy, Banking & Agriculture

1. Agriculture Current Affairs in News

1. United Nations Convention to Combat Desertification (UNCCD)

Source: PIB

Context India launched its first-ever Guide to Grasslands and Other Open Natural Ecosystems (ONEs) of India at the 17th Session of the Conference of the Parties (COP17) to the United Nations Convention to Combat Desertification (UNCCD) in Ulaanbaatar, Mongolia.

What are Open Natural Ecosystems?

• The core problem the Guide addresses: these ecosystems have long been judged by the absence of trees and classified as "wasteland" — even though they shelter species found nowhere else on earth and sustain pastoral communities.
• Open Natural Ecosystems (ONEs) are naturally treeless or sparsely treed landscapes — grasslands, savannas, scrublands, ravines and deserts.

What is the UNCCD?

Origin and Membership

Aim

To combat desertification, reverse land degradation and mitigate the effects of drought in arid, semi-arid and dry sub-humid areas (drylands) — in order to achieve Land Degradation Neutrality (LDN) by 2030 and support sustainable livelihoods.

India and the UNCCD

• India hosted COP14 in New Delhi (2019), where the Delhi Declaration was adopted
• India has committed to restoring 26 million hectares of degraded land by 2030
• At COP17, India launched its first-ever Guide to Grasslands and Other Open Natural Ecosystems
• Roughly 30% of India's land area is affected by degradation, per the Desertification and Land Degradation Atlas prepared by SAC-ISRO

2. Meghalaya Opens Centre of Excellence for Eri Silk Weaving

• Meghalaya CM Conrad K. Sangma inaugurated a Centre of Excellence (CoE) for Eri Silk Weaving in Ri-Bhoi district.
• Eri Silk, also known as Ryndia, is an indigenous silk variety of Meghalaya.
• The centre will promote traditional weaving, Ahimsa Silk, design development, innovation and artisan support.
• Meghalaya's handloom sector supports more than 50,000 households, with women making up over 70% of the workforce.

3. Bengal's Traditional Folk Industries to Get Skill India Support

• Traditional industries of West Bengal, including handloom and Dokra craft, will receive support under the Skill India Programme.
• Special initiatives will be undertaken through PM-SETU.
• The initiative aims to strengthen traditional skills and improve opportunities for artisans.

2. Schemes in News

1. Jal Jeevan Mission Completes 7 Years

Source: PIB

Context On 15 August 2026, the Jal Jeevan Mission (JJM) completed seven years of implementation. Rural tap-water coverage has risen to over 15.91 crore households, and more than 2 lakh villages have been declared 'Har Ghar Jal' certified.

What is the Jal Jeevan Mission?

Objective to provide a Functional Household Tap Connection (FHTC) to every rural household, at 55 litres per person per day.

Funding Pattern

What 'Har Ghar Jal' Certification Means?

• A village is certified only after the Gram Sabha passes a resolution confirming that every household in the village has a functional tap connection with adequate quantity and prescribed quality of water.
• The certification is therefore a community declaration, not an administrative claim — which is what distinguishes it from a simple count of connections installed.

Practice MCQs

Q1. With reference to the Jal Jeevan Mission, consider the following statements:

a. It was launched on 15 August 2019 to provide a Functional Household Tap Connection to every rural household.
b. It aims to supply 55 litres of water per person per day.
c. It is implemented by the Department of Drinking Water and Sanitation under the Ministry of Jal Shakti.
d. It is a Central Sector Scheme funded entirely by the Union Government.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Q2. With reference to the funding pattern of the Jal Jeevan Mission, consider the following statements:

a. The Centre-State funding ratio for Himalayan and North-Eastern states is 90:10.
b. Union Territories are funded entirely by the Central Government.
c. For other states, the funding ratio is 50:50.
d. The mission's deadline was extended from 2024 to December 2028.

How many of the above statements are correct? (a) Only one (b) Only two (c) Only three (d) All four (e) None

Answer Key

1. (c) — a, b, c correct. Statement d is wrong: JJM is a Centrally Sponsored Scheme, with costs shared between the Centre and the States in varying ratios — not a Central Sector Scheme.
2. (d) — All four correct. Remember the three ratios: 90:10 for Himalayan and NE states, 100% for UTs, 50:50 for others.

2. NABARD Launches RSVC-AMRIT Platform for Rural Innovation

Source: PIB

Context On 15 August 2026, Principal Scientific Adviser to the Government of India, Prof. Ajay Kumar Sood, launched the RSVC-AMRIT platform, developed by NABARD in collaboration with the Office of the Principal Scientific Adviser (OPSA), to strengthen rural innovation and technology transfer.

What is RSVC-AMRIT?

• The digital backbone of the RuTAGe Smart Village Centre (RSVC) ecosystem.
• AMRIT stands for Accelerated Medium for Rural Innovations and Technologies.

About NABARD

What is RuTAG?

• RuTAG — Rural Technology Action Group — is an initiative of the Office of the Principal Scientific Adviser, operating through IIT-based cells that adapt scientific and engineering solutions to rural needs.
• The RSVC model extends this by creating village-level centres where those technologies are demonstrated, adopted and maintained — and RSVC-AMRIT is the digital system that ties the centres, the technologies and the users together.

3. Ayushman Bharat PM-JAY Launched in West Bengal

• West Bengal formally launched Ayushman Bharat–PM Jan Arogya Yojana (AB-PMJAY) on 16 August 2026.
• The scheme provides health coverage of up to ₹5 lakh per family per year.
• Around 2,000 government and private hospitals in the state will be available under the scheme.
• All citizens above 70 years will be covered, including around 35 lakh elderly beneficiaries.
• The state also launched Mukhyamantri Swasthya Bima Yojana for families not covered under AB-PMJAY.

3. Reports

1. NITI Aayog Releases Report on Professional Services

• NITI Aayog released its 3rd Services Thematic report, "India's Services Sector: Insights on Regulatory Regime in Professional Services."
• Professional services contribute nearly 25% of India's total services exports.
• The report suggests a four-pronged strategy:
  • Harness emerging trends
  • Strengthen professional services in the wider value chain
  • Adopt global best practices
  • Promote continuous professional development
• Key regulatory barriers include nationality/residency requirements, licensing rules, qualification requirements and recognition of foreign qualifications.

4. PIB in News

1. Sapt Dhara of Shakti: Agriculture and Rural Development Roadmap

Source: PIB

Context Union Minister for Agriculture and Farmers' Welfare and Rural Development, Shri Shivraj Singh Chouhan, will administer a pledge to officials of both ministries at the Pusa campus, New Delhi, following the "Sapt Dhara of Shakti" outlined by the Prime Minister in his Independence Day address.

• Who will participate: progressive farmers, Lakhpati Didis, agricultural exporters and food processors.
• Aim of the meeting: translate the vision of a Viksit Bharat by 2047 into a clear and actionable roadmap for agriculture and rural development.

The Agriculture Priorities in Sapt Dhara of Shakti

From the Prime Minister's Independence Day address:

• Strengthening agriculture and food production
• Promoting food processing
• Expanding access to global markets
• Commitment to providing fertilisers to farmers at subsidised prices amid global crises and uncertainties
• Creating new global markets and opportunities for farmers, particularly in agriculture and marine products, including seafood
• Self-reliance — long-term measures taken over the past decade to keep India secure and self-reliant in essential requirements such as fertilisers and fuel, especially amid global uncertainty

2. CCRAS-NIIMH Signs MoU with SEMIRI for Medical Manuscripts

• CCRAS-NIIMH signed an MoU with Sevadhi Museum & Indological Research Institute (SEMIRI) for digitising medical manuscripts.
• The initiative aims to preserve and improve access to India's traditional medical knowledge.
• NIIMH will provide technical and scholarly support for digitisation and catalogue preparation.
• The catalogue will include details such as title, author, subject, script and language.

1. Banking and Finance

1. RBI Proposes Ban on NBFC Revolving Credit

Source: Business Standard

Context The Finance Industry Development Council (FIDC), the self-regulatory organisation (SRO) for the NBFC sector, is set to flag concerns over the RBI's proposed ban on revolving credit products. The industry argues the move could create regulatory arbitrage in favour of banks.

What the RBI Has Proposed

In draft guidelines issued on 6 August, the RBI proposed restricting NBFCs to offering only term loans — effectively barring them from providing revolving credit facilities.

What is Revolving Credit?

2. RBI Imposes ₹59.20 Lakh Penalty on IndusInd Bank

• RBI imposed a monetary penalty of ₹59.20 lakh on IndusInd Bank.
• The action was related to non-compliance with RBI directions on Interest Rate on Deposits and Securitisation of Standard Assets.
• The bank was found to have:
  • Paid interest on certain current account deposits in violation of RBI directions.
  • Undertaken synthetic securitisation of standard assets against RBI guidelines.
• The violations were identified during RBI's inspection based on the bank's financial position as of 31 March 2025.

1. Economy in News

1. Electronics Component Manufacturing Scheme (ECMS)

Source: ET

Context The Ministry of Electronics and Information Technology (MeitY) approved projects collectively worth ₹7,877 crore for incentives under the Electronics Component Manufacturing Scheme (ECMS).

What is ECMS?

• A scheme to build domestic manufacturing of electronic components — the parts that go inside finished devices, which India has largely imported even while assembling phones and laptops here.
• How incentives work: approved projects receive turnover-linked or capex-linked incentives upon achieving key milestones.

Components Being Made in India for the First Time

The approved projects include several parts never manufactured before in India:

• Electrolyte additives
• Hermetic terminals — used for defence-grade sealed assemblies
• Metalised films for capacitors
• Coils

2. SEMICON India 2026 to Be Held in September

• The 5th edition of SEMICON India 2026 will be held in New Delhi from 17 September 2026.
• The three-day event will have over 500 exhibitors.
• Around 240 companies from more than 40 countries are expected to participate.
• Prime Minister Narendra Modi will inaugurate the event.

2. Misc GA in News

1. Exercise MAITREE-XV

Source: News on Air

Context An 85-personnel Indian Army contingent, primarily from 9 Gorkha Rifles, departed for Thailand to participate in the 15th edition of the India–Thailand Joint Military Exercise MAITREE-XV (2026).

What is Exercise MAITREE?

An annual bilateral joint military exercise between the Indian Army and the Royal Thai Army, designed to improve tactical cooperation, share field expertise and build joint operational capabilities.

2. MoD Signs ₹1,577 Crore Contracts for Loiter Munition Systems

• The Ministry of Defence signed contracts worth about ₹1,577 crore with Tata Advanced Systems Limited (TASL) and NIBE Ltd.
• The contracts are for Loiter Munition Systems for the Indian Army.
• Procurement is under the Buy (Indian) category through the Fast Track Procedure (FTP).
• TASL will receive 64% of the order, while NIBE will receive 36%.
• Delivery is to be completed within 12 months.

3. Divyastra Mk3 Completes Maiden Flight

• Kawa UAV Pvt. Ltd. successfully conducted the maiden flight of Divyastra Mk3.
• It is described as India's first indigenous jet-powered loitering munition.
• The system uses an indigenous jet engine developed by DG Propulsion.
• It was developed without imported jet engines or foreign critical subsystems.
• The maiden flight was achieved within one year of programme initiation.

4. MIDHANI Gets GE Aerospace S400 Lab Approval

• Mishra Dhatu Nigam Limited (MIDHANI) became the first Indian company to receive S400 laboratory approval from GE Aerospace.
• The approval covers testing of high-performance metallic materials and aerospace alloys.
• It will strengthen MIDHANI's capabilities in superalloys, titanium alloys and aerospace-grade material testing.
• MIDHANI is a Miniratna Category-I PSU under the Ministry of Defence.