Daily Current Affairs Quiz | NABARD Grade A & RBI Grade B | Economy, Banking & Agriculture
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.
NABARD Current Affairs
Agriculture Current Affairs in News
1. Hanging Glaciers
Source: Indian Express
Context: A study identified 219 hanging glaciers in Uttarakhand’s Alaknanda basin, warning that warming and permafrost thaw are increasing break-off risks — potentially triggering ice-rock avalanches and outburst floods.
What a Hanging Glacier Is
- A glacier that originates high on a mountain wall or valley flank
- And terminates abruptly at the edge of a steep precipice or cliff face
- Rather than flowing down into a main valley floor
- Its snout ends high above the valley trough
- Routinely shedding ice through calving, icefalls and avalanches
Where They Are Found
Globally: high-relief alpine environments — the European Alps, the Andes, the North American Rockies, and the Himalaya-Karakoram range
In India: heavily concentrated along the steep, glaciated slopes of:
- Garhwal and Kumaon Himalayas (Uttarakhand)
- Himachal Pradesh
- Ladakh
- Sikkim
How They Form — Three Processes
- High-altitude accumulation: Heavy snowfall collects in steep niches, ledges and cirques → compacts into firn → glacial ice.
- Glacial retreat: Warming causes trunk/valley glaciers to thin and retreat, disconnecting smaller tributary glaciers → leaving them perched high on mountain walls.
- Thermal destabilisation: Rising temperatures thaw permafrost and basal ice, producing meltwater that lubricates the glacier–bedrock interface → making hanging glaciers unstable and prone to collapse.
2. NCDEX Launches RAINCHNNAI Weather Derivative
- NCDEX launched RAINCHNNAI, India’s second rainfall-based weather derivatives contract.
- It covers the North-East/retreating monsoon during September–December.
- Uses IMD stations at Meenambakkam and Nungambakkam in Chennai.
3. ICAR-IIOR National Consultation on Oilseed Technology
- ICAR–Indian Institute of Oilseeds Research (ICAR-IIOR), Hyderabad will organise a national consultation on 10 September 2026.
- Focus is on commercialisation of oilseed technologies.
- Important for oilseed productivity, technology transfer and agricultural R&D.
Schemes in News
1. Fisheries Infrastructure Projects under PMMSY
- Fisheries infrastructure projects worth ₹36.49 crore will be launched in Puducherry.
- Projects are under Pradhan Mantri Matsya Sampada Yojana (PMMSY).
- Focus on sustainable livelihoods, fisheries infrastructure and value-chain efficiency.
2. Cooperative-led Seaweed Farming
- A Multi-Dimensional Capacity Building Conclave will promote cooperative-led seaweed farming.
- It is linked with the Blue Economy.
- Focus: sustainable coastal livelihoods and strengthening the seaweed value chain.
Reports/Articles in News
1. Ease of Doing R&D in India — NITI Aayog
- Nearly 80% of ANRF funding is concentrated in IITs.
- India lacks a standardised system to track research funding, recipients and duplicate projects.
- Proposed UPMS requires robust Persistent Digital Identifiers (PIDs) and metadata infrastructure.
2. 4th Indo-German Environment Forum
- The 4th Indo-German Environment Forum is being held in New Delhi on 1 September 2026.
- Theme: “Together For More Resilience.”
- Focus: bilateral cooperation on environment and climate change.
RBI and NABARD Current Affairs
Banking and Finance
1. India’s Forex Reserves Hit Record High
- India’s foreign exchange reserves reached an all-time high of $729.3 billion.
- About $47 billion was added after RBI’s swap scheme announced on 5 June.
- Reserves provide approximately 11 months of import cover.
2. Kissht Digital Lending
- Kissht, an RBI-registered NBFC, launched a campaign promoting simplified digital lending.
- It highlights fast, paperless and app-based loan approvals.
- Important for NBFCs, fintech and digital lending
RBI and NABARD Current Affairs
Economy in News
1. India’s GDP Grows 7.8% in Q1 FY27
Source: TOI
Context: India’s GDP growth stood at 7.8 per cent in the April–June 2026 quarter (Q1 FY27) — quicker than the 6.9 per cent in Q1 of last year, but slower than the 8.6 per cent of the January–March 2026 quarter.
The Figures
| Indicator | Q1 FY27 |
|---|---|
| Real GDP growth | 7.8% |
| Nominal GDP growth | 10.3% |
| Real GVA growth | 8.2% |
Comparison: 6.9% in Q1 FY26; 8.6% in Q4 FY26
Note that GVA growth (8.2%) exceeds GDP growth (7.8%). GDP = GVA + taxes on products − subsidies.
When GDP grows slower than GVA, it usually means subsidies rose faster than product taxes — consistent with the fertiliser subsidy overshoot.
GDP — Gross Domestic Product
GDP is the total monetary value of all final goods and services produced within a country during a specific period, usually one year or one quarter.
Simple example
Suppose in one year India produces:
- Wheat and other agricultural products → ₹10 lakh crore
- Cars, steel, textiles etc. → ₹20 lakh crore
- Banking, IT, transport, hotels etc. → ₹70 lakh crore
Then the country’s GDP would broadly represent the ₹100 lakh crore of final economic production, after accounting for the relevant taxes and subsidies.
GDP Formula
- GDP = GVA + Taxes on products − Subsidies on products
- Where:
- GVA (Gross Value Added) = Output − Intermediate Consumption
- So, GDP measures the value created by the economy after avoiding double counting of intermediate goods.
Three major sectors
- Agriculture, forestry & fishing
- Industry — mining, manufacturing, electricity, construction etc.
- Services — banking, IT, trade, transport, real estate, public administration etc.
In India, services account for the largest share of GVA, followed by industry and agriculture.
Nominal GDP vs Real GDP
Nominal GDP
- Measured at current prices
- Affected by both production and price changes/inflation
Real GDP
- Measured at constant prices
- Removes the effect of price changes
- Therefore, it is more useful for measuring actual economic growth
Example:
If GDP rises 10%, but prices have increased 6%, the economy’s real output has not necessarily grown by 10%.
GDP vs GVA
- GVA → measures value added by producers/sectors.
- GDP → GVA plus net product taxes.
- Therefore: GDP = Σ GVA + taxes on products − subsidies on products.
GDP vs NDP
- NDP = GDP − depreciation (Consumption of Fixed Capital).
2. Fiscal Deficit at 26.8% of FY27 Target
- India’s fiscal deficit stood at 26.8% of the full-year Budget Estimate by July-end.
- Absolute fiscal deficit was ₹4.55 lakh crore.
- Net tax revenue was ₹8.45 lakh crore, while expenditure stood at ₹17.62 lakh crore.
Social Issue in News
1. National Small Industry Day
- 30 August is observed as National Small Industry Day in India.
- It recognises the contribution of small industries and MSMEs to employment and economic development.
- The observance is linked to the 2000 policy package for Small Scale Industries.
2. Enforced Disappearances Day
- 30 August is observed as the International Day of the Victims of Enforced Disappearances.
- The day promotes justice, truth, accountability and victims’ rights.
- Based on UNGA Resolution A/RES/65/209
3. Sone River Water-Sharing Pact
- Bihar and Jharkhand signed an MoU on sharing Sone River water.
- The agreement was signed in Delhi in the presence of Union Home Minister Amit Shah and the two State Chief Ministers.
- Important for inter-state water management and cooperative federalism.
4. OIL Green Energy Waste-to-Clean Energy Projects
- OIL Green Energy signed MoUs with Gurugram, Faridabad, Hisar and Ambala municipalities.
- Projects will process 5,000 tonnes/day of municipal solid waste.
- Expected output: 70–75 TPD CBG and around 50 MW green power
Misc GA in News
1. Kyrgyzstan is hosting the 26th Shanghai Cooperation Organisation (SCO)
Context: Kyrgyzstan’s capital Bishkek is hosting the 26th Shanghai Cooperation Organisation (SCO) Summit, as the Eurasian bloc marks 25 years since its inception.
Kyrgyzstan
- Officially the Kyrgyz Republic
- A mountainous, landlocked sovereign republic in Central Asia
- Formerly a union republic of the Soviet Union, known as Kirgiziya
- Declared independence on 31 August 1991
- Location: the heart of Central Asia, dominated by the Tien Shan mountain system
- Capital: Bishkek, in the fertile Chu River valley in the north
- Borders: Kazakhstan, China, Tajikistan and Uzbekistan
About the SCO
- Founded in 2001 in Shanghai, from the earlier “Shanghai Five”
- Founding members: China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan
- India and Pakistan joined in 2017; Iran in 2023; Belarus in 2024
- Secretariat: Beijing
- RATS — Regional Anti-Terrorist Structure — headquartered at Tashkent
- India hosted the 2023 summit (virtual) and the SCO Heads of Government meeting
2. National Test House — 115th Foundation Day
- National Test House (NTH) celebrated its 115th Foundation Day in Bengaluru.
- New facilities include coal, solar water-heater and utensils testing facilities.
- The NTH Suvidha mobile application was also launched.
3. Legal Metrology (Indian Standard Time) Rules, 2026
- Department of Consumer Affairs notified rules making Indian Standard Time (IST) the single time reference for official purposes.
- Rules aim to improve accurate time-stamping, cybersecurity and synchronisation.
- They will come into force 180 days after Gazette publication.
Miscellaneous GA
1. India–USA Javelin Missile Deal
- Indian Army signed a $93 million agreement for nearly 100 FGM-148 Javelin ATGMs.
- Javelin is a fire-and-forget, infrared-guided anti-tank missile.
- The deal may support future co-production in India.
2. TASL–Javelin Co-Production MoU
- Tata Advanced Systems Limited (TASL) signed an MoU with the Javelin Joint Venture.
- The agreement explores final assembly and component production in India.
- Javelin can engage tanks and armoured targets at ranges of up to 5 km.
3. India Gets Dialogue Partner Status in GCAP
- India secured Dialogue Partner status in the Global Combat Air Programme (GCAP).
- GCAP is a 6th-generation fighter programme of the UK, Italy and Japan.
- India is not yet a builder or co-developer under this status.
4. CISF–DFI Counter-Drone MoU
- CISF and Drone Federation of India signed an MoU to strengthen counter-drone capabilities.
- Behror, Rajasthan, will be developed as a Centre of Excellence.
- Focus areas include drone detection, SOPs and drone forensics.
5. Indian Navy Commissions DSV Nipun
- Indian Navy commissioned its second indigenous Diving Support Vessel, Nipun.
- Built by Hindustan Shipyard Limited, it has around 75% indigenous content.
- Supports deep-sea diving up to 300 m and submarine rescue operations.
6. T-72/T-90 Tank Overhaul Facility
- A ₹472-crore tank overhaul facility is being established at Vehicle Factory Jabalpur.
- It will support MRO of India’s T-72 and T-90 tanks.
- Planned capacity: 80 tanks annually.
7. Lionel Messi Retires from International Football
- Lionel Messi announced his retirement from international football for Argentina on 31 August 2026, ending a 21-year international career.
- He finished as Argentina’s most-capped player and all-time leading scorer, with 207 appearances and 125 goals.
- Major achievements include the 2022 FIFA World Cup and Copa América titles in 2021 and 2024; his final international match was the 2026 World Cup final.
- He is an eight-time Ballon d’Or winner and one of the most decorated players in international football.
Science & Technology
1. Nancy Grace Roman Space Telescope
- NASA launched the Nancy Grace Roman Space Telescope aboard a SpaceX Falcon Heavy.
- Project cost is around $4.3 billion.
- It will study dark energy, exoplanets and the infrared universe and operate around Lagrange Point 2.
2. DoT–C-DOT Optical Network Testbed
- DoT and C-DOT signed a 5-year agreement to establish an end-to-end optical network testbed.
- It will test optical core, optical access and quantum-security technologies.
- Aim: bridge the gap between indigenous R&D and commercial deployment.
3. YJ-18A Stealth-Coated Missile
- China reportedly tested a new YJ-18A anti-ship cruise missile variant.
- It uses a radar-absorbing coating designed to reduce radar reflections.
- The missile combines subsonic cruising with a supersonic terminal attack.
4. Gangaichthys indonepalicus
- Scientists discovered a new subterranean fish species in West Champaran, Bihar, near Nepal.
- It is the first recorded subterranean fish from the Indo-Gangetic Basin.
- Features include lack of pigmentation, reduced eyes and an elongated body.
International Affairs
1. China–Bangladesh 2+2 Dialogue
- China and Bangladesh are preparing for their first 2+2 diplomatic and defence dialogue.
- It will combine foreign affairs and defence-level discussions.
- Important for understanding China’s growing engagement in South Asia.
2. Sone River Pact
- Bihar and Jharkhand signed an agreement on Sone River water sharing.
- It addresses a long-standing inter-state water-sharing issue.
- Important for federalism and river-water governance.
Appointments & Resignations
1. John Ternus Becomes Apple CEO
- Tim Cook stepped down as Apple CEO on 31 August 2026.
- John Ternus succeeded him as CEO.
- Important corporate leadership change.
2. Peyman Kargar — TVS Motor
- Peyman Kargar will become TVS Motor’s CEO and Director from 27 January 2027.
- He will succeed K.N. Radhakrishnan.
- Kargar has over 30 years of global automotive experience.
3. King Haakon VIII of Norway
- Crown Prince Haakon succeeded King Harald V as King Haakon VIII.
- He became Norway’s Head of State.
- He is a trained naval officer.
4. Ashish Shelar — ESGF President
- Maharashtra Minister Ashish Shelar was elected President of the Esports Games Federation (ESGF).
- ESGF is India’s national body for esports and mind sports.
- The federation was established in 2024.
Awards & Sports
1. Rajbhasha Utkrishtta Sammaan
- DARPG was selected for the Rajbhasha Utkrishtta Sammaan 2025–26.
- It was recognised for outstanding implementation of Hindi as the Official Language.
- Award will be presented on Hindi Diwas, 14 September 2026.
2. Indian Football Awards 2026
- Lallianzuala Chhangte was named Indian Footballer of the Year.
- Manisha Kalyan won Indian Women’s Player of the Year.
- Awards were presented by FPAI in Kolkata.
3. National Sports Day
- 29 August is observed as National Sports Day in memory of Major Dhyan Chand.
- 2026 marked his 121st birth anniversary.
- Campaign: “Ek Ghanta Khel Ke Maidan Mein.”
Important Days
1. International Day Against Nuclear Tests
- Observed on 29 August every year.
- Declared by UNGA Resolution A/RES/64/35 in 2009.
- The date marks the closure of Kazakhstan’s Semipalatinsk Nuclear Test Site in 1991.
