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
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?
| Aspect | Detail |
|---|---|
| Full name | United Nations Convention to Combat Desertification |
| One of the three Rio Conventions | With the UNFCCC (climate) and CBD (biodiversity) |
| COP17 venue | Ulaanbaatar, Mongolia |
| India hosted | COP14, in New Delhi (2019) |
| Key concept | Land Degradation Neutrality (LDN) — SDG target 15.3 |
| Convention | Subject |
|---|---|
| UNCCD | Desertification and land degradation |
| UNFCCC | Climate change |
| CBD | Biodiversity |
Origin and Membership
| Aspect | Detail |
|---|---|
| Genesis | Formally recommended by Agenda 21 at the 1992 Rio Earth Summit (UNCED) |
| Adopted | Paris, 17 June 1994 |
| Entered into force | December 1996 |
| Parties | 197 — 196 countries plus the European Union |
| Observance | 17 June is the World Day to Combat Desertification and Drought |
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.
| Aspect | Detail |
|---|---|
| Launched by | Prime Minister Narendra Modi |
| Launch date | 15 August 2019 |
| Original deadline | 2024 |
| Extended deadline | December 2028 (by the Union Cabinet) |
| Ministry | Ministry of Jal Shakti (MoJS) |
| Implementing department | Department of Drinking Water and Sanitation (DDWS) |
| Scheme type | Centrally Sponsored Scheme (CSS) |
| Water supply norm | 55 litres per person per day |
Funding Pattern
| Category | Centre : State |
|---|---|
| Himalayan and North-Eastern states | 90:10 |
| Union Territories | 100% by the Centre |
| Other states | 50:50 |
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
- (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.
- (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.
| Function | What it does |
|---|---|
| Technology discovery | Helps identify suitable technologies for rural needs |
| Validation | Tests whether a technology actually works in the field |
| Deployment tracking | Follows where a technology has been installed |
| Monitoring | Tracks performance after deployment |
| Knowledge management | Builds a national repository of rural innovations and best practices |
About NABARD
| Aspect | Detail |
|---|---|
| Established | 1982 |
| Headquarters | Mumbai, Maharashtra |
| Status | India’s apex development financial institution for agriculture and rural development |
| Chairman | Dr. Shaji Krishnan V. (Shaji K.V.) |
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.
RBI Current Affairs
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?
| Feature | Revolving credit | Term loan |
|---|---|---|
| How it works | A sanctioned limit the borrower can draw, repay and draw again | A fixed amount disbursed once, repaid on a set schedule |
| Examples | Cash credit, overdraft, working capital limits, credit cards | Home loan, vehicle loan, business term loan |
| Flexibility | Borrower draws only what is needed, when needed | Full amount disbursed upfront |
| Paperwork | One-time sanction, repeated use | Fresh sanction each time |
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.
RBI AND NABARD CURRENT AFFAIRS
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.
| Aspect | Detail |
|---|---|
| Host country | Thailand — at Vibhavadi Rangsit Camp, Surat Thani |
| Participants | India and Thailand, 85 personnel from each side |
| Indian contingent | Primarily from 9 Gorkha Rifles |
| Instituted | 2006 |
| Frequency | Annual, alternating between the two countries |
| Previous edition | 14th, at the Foreign Training Node, Umroi, Meghalaya, September 2025 |
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.
5. NIELIT Launches Cyber Kushti 2026
- NIELIT launched Cyber Kushti 2026, a national cybersecurity and AI hackathon.
- It aims to test human decision-making and judgment in AI-driven cybersecurity situations.
- It is organised with the ISAC Foundation, with CERT-In as the knowledge partner.
- The competition will have three rounds: Akhada, Dangal and Kesari.
- The winning team will receive the title “Cyber Kesari 2026” and a Gada.
6. SpaceX Sets Record with Two Falcon 9 Launches
- SpaceX launched two Falcon 9 rockets just 38.5 minutes apart.
- One rocket carried 8 Globalstar satellites into Low Earth Orbit.
- The second carried the classified USSF-366 mission for the US Space Force.
- This set a company record for the shortest gap between two Falcon 9 launches.
7. Magnus Carlsen Wins Esports World Cup Chess 2026
- Magnus Carlsen won the Esports World Cup Chess 2026 title for the second consecutive year.
- He defeated Denis Lazavik 2–0 in the final.
- Hikaru Nakamura finished third, while Alireza Firouzja finished fourth.
- Carlsen received a prize of USD 250,000.
- The tournament was held in Paris, France, from 11–15 August 2026.
8. Sculptor Chandrashekhar Y. Shilpi Passes Away
- National Award-winning sculptor Chandrashekhar Y. Shilpi passed away at the age of 75 in Karnataka.
- He was known for traditional wood, stone and Panchaloha sculpture.
- His works were influenced by Chalukya, Hoysala, Chola, Rashtrakuta and Pallava traditions.
- He received the National Award for Master Craftspersons 2024 and the Karnataka Rajyotsava Award 2014.
