Context: A report by grain commerce platform Arya.ag, titled “Her Harvest 2026: The Hidden Cost of Women’s Invisible Work in Indian Agriculture”, finds that unequal access to land, finance and technology is leaving a large part of India’s farm potential untapped.

Key Highlights

The Four Recommendations

• Recognise women as farmers irrespective of land ownership, and publish gender-disaggregated data on credit, procurement and FPO membership
• Expand financial access through collateral-light credit, warehouse receipts, and women-held Kisan Credit Cards
• Route drones, advisory services and market technology directly through women-run institutions
• Build women-led FPOs as permanent market institutions, not pilot projects

The Concept to Understand

• Land ownership decides who is recognised as a farmer. Recognition decides who gets credit, extension services and procurement.
• So the cycle runs:
• Not recognised as a farmer → no formal credit → cannot buy inputs or pay for storage → must sell at harvest when prices are lowest (distress sale) → low income → no assets, no land → still not recognised as a farmer
• Men migrate to cities, women increasingly run the farms. But the person doing the work is not the person on the record.
• Women-run farms produce less not because women farm less efficiently, but because they farm with fewer resources. The problem is administrative, not agricultural.

The Three Rs

The report frames its solution around resources, recognition and returns:

• Equal access to resources could raise yields on women-run farms by 20 to 30 per cent
• Higher harvest income for women could raise household incomes by 20 to 30 per cent

Context: The Digital Bharat Nidhi (DBN), under the Department of Telecommunications (DoT), Ministry of Communications, signed an agreement with Chhattisgarh State BharatNet Infrastructure Limited (CSBIL), BSNL and the Chhattisgarh Infotech Promotion Society (CHiPS) for implementing the Amended BharatNet Programme (ABP) under the State-led model.

What is the Amended BharatNet Programme?

• Objective: to upgrade and expand the existing BharatNet network, provide future-ready broadband connectivity to Gram Panchayats and villages on a demand basis, and strengthen digital inclusion in rural and remote areas.
• The phrase “on a demand basis” matters. Earlier BharatNet phases laid fibre to Gram Panchayats regardless of whether anyone was using it, and much of that capacity sat idle. Connecting on demand means extending the network where there is actual usage — a shift from building infrastructure to serving users.

What is Digital Bharat Nidhi?

• Formerly known as the Universal Service Obligation Fund (USOF).
• Established: under the Indian Telegraph (Amendment) Act, 2003
• Renamed: as Digital Bharat Nidhi under the Telecommunications Act, 2023
• Came into effect: 31 August 2024
• How it works: telecom operators pay a Universal Service Levy as a percentage of their adjusted gross revenue. That money funds telecom infrastructure in areas where commercial operators would not invest on their own — remote, hilly, tribal and low-revenue rural regions.

About BharatNet

• BharatNet is India’s flagship rural broadband programme, aimed at connecting all Gram Panchayats with optical fibre.
• Phase I connected GPs mainly through existing fibre of central PSUs. Phase II extended the network further. The Amended BharatNet Programme now upgrades what exists and extends connectivity to villages beyond the Gram Panchayat headquarters.

• The International Commission on Irrigation and Drainage designated the 140-year-old Parichha Weir in Jhansi, UP, as a World Heritage Irrigation Structure.
• It serves as the headworks of the 2,654-km Betwa Canal System, irrigating 4,28,360 hectares across five districts of UP and MP.
• Three other Indian structures were also selected: Ashti Medium Project (Maharashtra), Chhapawara Dam (Rajasthan) and Pechiparai Dam (Tamil Nadu). Awards will be presented in October 2026 at Marseille, France.

• The scheme, effective from 1 September 2026, aims to expand piped natural gas access as a clean, safe and affordable cooking fuel.
• City Gas Distribution companies will receive 200 SCM of lower-priced domestic APM gas for every incremental billed domestic PNG connection above a threshold set for each Geographical Area.
• The incentive is designed to push CGD firms to convert unbilled connections into active ones and extend networks to new areas.
• It will be disbursed in two tranches over six months. India currently has 1.74 crore domestic PNG connections.

• Digital Bharat Nidhi, which functions under the Department of Telecommunications, signed the agreement with the Chhattisgarh government on 18 August 2026.
• It is part of the Amended BharatNet Programme to extend broadband connectivity to gram panchayats and villages.

• The state increased the annual cover under the Chief Minister’s Comprehensive Health Insurance Scheme five-fold, from ₹5 lakh to ₹25 lakh.
• The move is intended to shield families from high treatment costs for serious illnesses.

Context: Razorpay, a leading Indian fintech firm, launched “Razorpay Vulcan” — India’s first AI-powered payments foundation model, designed to make digital transactions more reliable, secure and predictable.

What is a Foundation Model?

• A foundation model is a large AI model trained on enormous volumes of data, which can then be applied to many related tasks rather than being built for one narrow purpose.
• In this case: instead of separate systems for fraud detection, transaction routing and checkout, a single model trained on payments data handles all of them — because the underlying patterns are the same.

What Problems It Addresses

Vulcan is designed to tackle four issues across India’s digital payments ecosystem:

• Payment failures
• Fraud
• Transaction routing
• Checkout-related friction

About Razorpay

• Founded: 2014
• Founders: Harshil Mathur and Shashank Kumar
• Headquarters: Bengaluru, Karnataka
• What it does: payment and financial technology solutions for businesses

Context: In one of the swiftest crackdowns on market malfeasance, SEBI barred Copthall Mauritius Investment and Mansi Share & Stock Broking from accessing the securities market for alleged manipulative trades during the Closing Auction Session (CAS).

What is the Closing Auction Session?

• The CAS is a short window at the end of the trading day, used to discover a single closing price for stocks that have derivative contracts. Instead of averaging trades over 30 minutes, it collects all buy and sell orders and matches them at one equilibrium price.
• Why the closing price matters so much: it settles derivatives contracts. An option that would expire worthless at one closing price can become profitable at a slightly different one. That gives anyone holding derivative positions a reason to try nudging the close — and a short, concentrated window is where a large order moves the price most cheaply.

What the Alleged Manipulation Involved

• According to SEBI’s earlier findings, both entities placed very large orders and then cancelled them within seconds.
• The tactic is known as spoofing — placing orders with no intention of letting them execute, purely to move the price, then withdrawing them.
• This allowed the entities to avoid losses or make gains on derivatives positions that would otherwise have expired worthless.

Important Facts for Exams

• SEBI is the regulator of India’s securities markets, established under the SEBI Act, 1992, headquartered in Mumbai
• Impounding means SEBI takes custody of the money identified as wrongful gain, pending final proceedings
• Proprietary trading is when a broking firm trades using its own money, as distinct from executing trades for clients
• Spoofing is prohibited under SEBI’s PFUTP Regulations — Prohibition of Fraudulent and Unfair Trade Practices

Context: Public-sector banks (PSBs) have proposed carving out a 2% sub-target for climate and transition finance within the existing Priority Sector Lending (PSL) requirement of 40% of Adjusted Net Bank Credit (ANBC) for scheduled commercial banks.

What the Banks Proposed

• A 2% sub-target for climate and transition finance within PSL
• Higher lending limits for loans to the renewable energy sector under PSL
• Inclusion of electric vehicle financing within the PSL framework
• Cover for EV charging infrastructure, battery-swapping infrastructure and commercial EV fleets

The Current PSL Framework

Scheduled commercial banks must lend 40% of Adjusted Net Bank Credit to priority sectors. At present there is no separate climate or transition sub-target under PSL. Within that, there are existing sub-targets:

• Agriculture — 18% (14% non-corporate farmers, 10% small/marginal)
• Micro enterprises — 7.5%
• Weaker sections — 12%, covering Scheduled Castes, Scheduled Tribes, minority communities and self-help groups
• The remainder goes to other eligible sectors, including housing, education, renewable energy, social infrastructure and export credit

The Renewable Energy Limits Proposed

• Raising the limit to ₹75 crore for wind and small hydropower projects
• Retaining the ₹35 crore limit for solar photovoltaic projects
• Keeping the overall ceiling at ₹100 crore per borrower from the banking system

What is Transition Finance?

• Transition finance is lending to high-carbon-emitting industries to help them reduce emissions — as distinct from green finance, which funds activities that are already clean.
• The industries involved: iron and steel, chemicals and fertilisers, and construction.

Important Facts for Exams

• Priority Sector Lending requires scheduled commercial banks to lend 40% of Adjusted Net Bank Credit to specified sectors
• Green finance funds already-clean activity; transition finance funds emission reduction in high-carbon industries
• The climate finance taxonomy was announced in Budget 2024-25 and released in draft by the DEA, but is not yet finalised
• India’s target is net zero by 2070

Practice MCQs

Q1. With reference to the proposals made by public-sector banks, consider the following statements:

a. They proposed a 2% sub-target for climate and transition finance within priority sector lending.
b. They sought higher lending limits for the renewable energy sector under PSL.
c. They proposed bringing electric vehicle financing within the PSL framework.
d. A separate climate sub-target already exists under the current PSL framework.

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 priority sector lending framework, consider the following statements:

a. Scheduled commercial banks must lend 40% of Adjusted Net Bank Credit to priority sectors.
b. The sub-target for agriculture is 18%.
c. The sub-target for micro enterprises is 7.5% and for weaker sections 12%.
d. Renewable energy is excluded from priority sector lending.

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: there is no separate climate or transition sub-target under the current PSL framework. Creating one is exactly what the banks have proposed.
2. (c) — a, b, c correct. Statement d is wrong: renewable energy is already an eligible PSL category, falling within the residual portion alongside housing, education, social infrastructure and export credit.

• Jammu & Kashmir Bank signed a Corporate Agency Agreement with HDFC Life Insurance Company to distribute insurance products through its branch network.
• Customers will get access to HDFC Life’s range covering protection, savings and investment, retirement planning and other life-stage needs.
• The partnership supports IRDAI’s vision of “Insurance for All by 2047”.
• HDFC Life, established in 2000 and headquartered in Mumbai, is promoted by HDFC Bank.

Context: Abdolnasser Hemmati, Governor of the Central Bank of Iran, announced that Iran is advancing toward official membership in the BRICS New Development Bank (NDB). The announcement came during his visit to India for the BRICS finance ministers and central bank governors meeting held in Jaipur.

What is the NDB?

• A multilateral development bank (MDB) established by the founding BRICS nations, formerly called the BRICS Development Bank.
• Headquarters: Shanghai, China
• What it does: provides loans, equity participation, guarantees and technical assistance to finance sustainable infrastructure and green development projects across emerging markets and developing countries.
• Current President: Dilma Rousseff, former President of Brazil

History and Formation

• 2012 — the idea of a South–South development bank was first mooted by India at the 4th BRICS Summit in New Delhi
• 15 July 2014 — the formal Agreement establishing the NDB was signed at the 6th BRICS Summit in Fortaleza, Brazil, alongside a $100 billion Contingent Reserve Arrangement (CRA)
• July 2015 — the bank entered into force, with India’s K.V. Kamath as its first elected President

Membership and Shareholding

• Founding members: Brazil, Russia, India, China and South Africa — each initially contributing an equal share of the $50 billion subscribed capital, out of $100 billion authorised capital
• Members admitted since: Bangladesh, United Arab Emirates, Egypt, Algeria and Uzbekistan, which officially joined on 5 June 2026 as the bank’s tenth member.
• Prospective members — admitted by the Board of Governors but yet to deposit their instrument of accession: Uruguay, Colombia, Ethiopia, Angola and Zimbabwe.

Context: The PM CARES Fund released its delayed FY 2023-24 and FY 2024-25 audited statements, showing expenditure of just ₹87.85 lakh in FY25 against ₹1,279.9 crore income and an ₹8,452.06 crore closing balance.

What is the PM CARES Fund?

• Full name: the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund.
• It is a dedicated national public charitable trust set up to provide assistance, emergency relief and rehabilitation during public health crises, natural calamities or man-made disasters.
• Established: registered on 27 March 2020 under the Registration Act, 1908, in New Delhi
• Why it was created: in the wake of the COVID-19 pandemic, to create a flexible national corpus for healthcare infrastructure, indigenous medical research and direct financial relief

Key Features

• Governance: chaired by the Prime Minister of India (ex-officio), with the Ministers of Defence, Home Affairs and Finance as ex-officio trustees, alongside eminent nominated trustees who serve pro bono.
• Tax benefit: donations qualify for 100 per cent tax exemption under Section 80G of the Income Tax Act, 1961.
• CSR eligibility: corporate contributions count as eligible Corporate Social Responsibility spending under Schedule VII of the Companies Act, 2013.
• FCRA exemption: granted an exemption under the Foreign Contribution (Regulation) Act, with a dedicated bank account to accept international donations — similar to the Prime Minister’s National Relief Fund (PMNRF).

PM CARES vs PMNRF

• Both are charitable trusts, both give 80G exemption, both accept foreign donations.
• The difference: the PMNRF dates from 1948, set up by Jawaharlal Nehru to assist Partition refugees, and its funds are used mainly for relief to families affected by natural calamities and for medical treatment. PM CARES was created in 2020 specifically for emergency and pandemic-related response, with a broader mandate including healthcare infrastructure and research.

• The National Statistics Office released the 16th monthly PLFS bulletin, showing the unemployment rate (Current Weekly Status, age 15+) fell from 5.5% in June to 5.1% in July 2026.
• Rural unemployment stood at 4.5% while urban unemployment was 6.7%.
• The Labour Force Participation Rate improved to 55.4% from 54.4% in June.
• The Worker Population Ratio rose to 52.5% from 51.4%, indicating more people entering and finding work.

• The Department of Defence Production notified the list comprising 389 items of Defence PSUs and 16 items of the Indian Coast Guard.
• It includes line replaceable units, sub-systems, sub-assemblies, spares, components and raw materials, with estimated business potential of ₹3,070 crore.
• Platforms covered include ALH, LUH, Su-30MKI, LCA, T-72, T-90, BMP-II, missile systems and defence electronics.
• DPSUs involved include HAL, BEL, BDL, BEML, AVNL, GRSE, GSL, HSL, MIDHANI and MIL; the full list is on the SRIJAN portal (srijandefence.gov.in).

• DRDO issued an Expression of Interest on 18 August 2026 through Research Centre Imarat (RCI), Hyderabad.
• It seeks long-term partnerships with private industry to manufacture missile systems, deepening private participation in defence production.

• The Defence Minister flagged off the All India Girls High Altitude Long Trek, a flagship NCC adventure activity, in New Delhi on 18 August 2026, with DG NCC Lt Gen Virendra Vats in attendance.
• The 250-km, 30-day expedition crosses the Parang La Pass (5,578 m / 18,300 ft), linking Spiti Valley (HP) with the Changthang region of Ladakh via Kibber, Dumla, Thaltak, Norbu Sumdo, Kiangdom and Korzok.
• The team has 28 NCC girl cadets (average age 19, youngest 16.5) led by three women officers from the three services.
• It aims to promote women empowerment, leadership and national integration, reflecting “Nari Shakti” and “Ek Bharat, Shreshtha Bharat”.

• The Ministry of Commerce and Industry released trade data showing total exports (merchandise + services) rose 13.31% year-on-year, from USD 70.72 billion in July 2025 to USD 80.14 billion in July 2026.
• Merchandise exports grew 19.63% to USD 44.24 billion, surpassing the previous record of USD 38.34 billion set in July 2022.
• Total imports grew 15.83% to USD 95.16 billion, widening the trade deficit to USD 15.03 billion from USD 11.43 billion a year earlier.
• Services exports were estimated at USD 35.89 billion, up from USD 33.74 billion.

• The approvals, handed over in the presence of Union Minister Ashwini Vaishnaw and MoS Jitin Prasada in New Delhi, take the total sanctioned projects under the Electronics Components Manufacturing Scheme to 106, covering 30 products across 15 states.
• The new projects cover 20 target segment products — 3 sub-assemblies, 10 bare components, 6 supply chain products and 1 capital goods item.
• They span 10 states: Goa, Gujarat, Haryana, Himachal Pradesh, Karnataka, Maharashtra, Tamil Nadu, Telangana, Uttar Pradesh and Uttarakhand.

• Glenmark Pharmaceuticals received US Food and Drug Administration approval for Fluticasone Propionate Nasal Spray USP, 0.05 mg (50 mcg) per spray.
• The approval allows the company to market the generic corticosteroid nasal spray in the US.

• Sri Lankan tea major Dilmah is entering India’s luxury tea market with Thambapanni, a curated collection of Indian teas.
• The range will follow a hospitality-led distribution model, available only to premium hotels in pyramid bags and loose-leaf form.

• The meeting was held in Jaipur, Rajasthan, on 19 August 2026 under India’s BRICS Chairship.
• It was organised by the Union Ministry of Tourism to discuss cooperation on tourism among member nations.

• The Department of Telecommunications issued a circular on 17 August 2026 directing telecom service providers to deny new mobile connections to subscribers who have already reached the nine-SIM limit.
• Subscriber photographs will be used to verify identity and detect individuals holding connections beyond the permitted limit.

• Banaras Hindu University (BHU), Varanasi, secured approval for six biomedical research grants under the Indian Council of Medical Research scheme on 20 August 2026.
• The grants will support research projects in medical sciences at the university.

• Observed annually on 20 August to promote peace, unity, goodwill and harmony among communities.
• It marks the birth anniversary of former Prime Minister Rajiv Gandhi.
• The first Sadbhavana Diwas was observed on 20 August 1992, following his assassination in 1991.
• Sadbhavana means goodwill and harmony.

• Observed globally on 19 August to celebrate the art, science and history of photography.
• The 2026 theme is “HOME”, encouraging people to share photographs reflecting their personal meaning of home.
• The day commemorates the daguerreotype, an early practical photographic process developed by Louis Daguerre.
• The term “photography”, meaning “drawing with light”, was coined by Sir John Herschel in 1839.

• The Ministry of Railways approved a maximum permissible speed of 100 kmph on the 111-km Katra–Banihal broad-gauge section on 19 August 2026.
• The section falls under Northern Railway’s Jammu Division and is an important part of the rail link to the Kashmir Valley.

• A shore-based Launch and Recovery System (LARS) Test Plinth was inaugurated on 19 August 2026 at the Submarine Rescue Unit (East), Visakhapatnam.
• The facility will enable testing and maintenance of submarine rescue equipment on shore.
• Vice Admiral Sanjay Bhalla was present at the inauguration.

• The Ministry of Youth Affairs and Sports named 17 Arjuna Awardees, including Tejaswin Shankar, Divya Deshmukh, Treesa Jolly and Gayatri Gopichand.
• Former footballer I Arumainayagam, a 1962 Asian Games gold medallist, received the Arjuna Award (Lifetime).
• The Army Paralympic Node, Pune, received the Rashtriya Khel Protsahan Puraskar.
• Dronacharya Award (Regular): Parveer Singh, Chhote Lal Yadav and Neha Nandkumar Chavan.
• Dronacharya Award (Lifetime): Dharmendra Singh Yadav and Virender Kumar.
• No athlete was selected for the Major Dhyan Chand Khel Ratna.

• India defeated Pakistan 5–3 in the Pool D match at Wagener Stadium, Amstelveen, Netherlands, on 19 August.
• India initially led 3–0 and later 4–1.
• Pakistan fought back but Hardik Singh scored to seal India’s victory.
• The win helped India advance to the next phase of the World Cup.

• PV Sindhu defeated Canada’s Wen Yu Zhang in straight games at the IGI Stadium, New Delhi.
• Ayush Shetty also won his match in straight games.
• Sindhu, the 2019 world champion, will face World No. 3 Wang Zhi Yi of China in the pre-quarterfinals.
• Shetty will face Indonesia’s Alwi Farhan next.

• China successfully recovered a rocket first stage on land, marking a milestone in its reusable launch technology programme.
• It was reported as China’s second successful first-stage recovery, following a recovery on a sea platform in July.

• William F. Rasmussen, co-founder of ESPN, died in Seattle, Washington, at the age of 93.
• He and his son Scott Rasmussen launched ESPN in 1979 from Bristol, Connecticut.
• Rasmussen was later recognised as the “Father of Sports Television” by USA Today.
• He was inducted into the Sports Broadcasting Hall of Fame in 2025.
• He authored books including Sports Junkies Rejoice! The Birth of ESPN and ESPN: One Giant Leap for Fankind (2023).