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Daily Current Affairs (DCA) 26 & 27 July, 2026

23 items · 13 min read · NABARD · RBI · SEBI

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In the news3

The Hindu
Context

The “Ancient Buddhist Site, Sarnath” in Uttar Pradesh was inscribed on the UNESCO World Heritage List on 25 July 2026, during the 48th session of the World Heritage Committee at Busan, Republic of Korea, making it India’s 45th World Heritage Site. It is Uttar Pradesh’s fourth site, after the Taj Mahal, Agra Fort and Fatehpur Sikri, all in the Agra region.

Key Facts

The Inscription

  • India now has 45 World Heritage Sites, placing it sixth in the world and second in the Asia-Pacific region.
  • India submitted the dossier titled “Ancient Buddhist Site, Sarnath” for the 2025–26 nomination cycle; under the Operational Guidelines, 2024, only one property may be submitted per cycle, and the process takes about 1.5 years.
  • The nomination was evaluated by ICOMOS, the advisory body for cultural properties.

What the Property Comprises

  • The legacy survives in two protected archaeological sites: the Chaukhandi Stupa and the Archaeological Remains of Sarnath, which include the Dhamek Stupa and the Dharmarajika Stupa.
  • The Chaukhandi Stupa is a lofty brick structure crowned by an octagonal Mughal tower built by Govardhan, son of Raja Todar Mal, in AD 1588, to commemorate Humayun’s visit.
  • The second group contains stupas, monasteries, temples and the Ashokan column, in brick and stone, datable from the 3rd century BCE to the 12th century CE.

Historical Significance

  • According to Buddhist texts, the Buddha travelled to Sarnath in the sixth century BCE after attaining enlightenment, met his first five disciples and delivered his first sermon — regarded as the beginning of the spread of Buddhist teachings.
  • Known in ancient texts as Mrigadava (Deer Park), Rishipattana and Isipatana.
  • The first sermon, the Dhammacakkappavattana Sutta, expounded the Four Noble Truths and the Eightfold Path, and marked the founding of the Sangha.
  • Sarnath evolved into a major centre of Buddhist learning and pilgrimage, one of the four principal Buddhist pilgrimage destinations.
  • The Ashokan Pillar here bears the Lion Capital, adopted as India’s National Emblem in 1950, with the Dharmachakra appearing on the national flag.
  • Sarnath also produced the famed Gupta-period Buddha in dharmachakra-pravartana mudra, a masterpiece of the Sarnath school of sculpture.

Buddhist Pilgrimage Circuit

  • The four principal sites: Lumbini (birth, Nepal), Bodh Gaya (enlightenment, Bihar), Sarnath (first sermon, UP) and Kushinagar (mahaparinirvana, UP).
  • With Sarnath, three of these four are now on the World Heritage List — Lumbini (1997), Mahabodhi Temple Complex, Bodh Gaya (2002), and now Sarnath; Kushinagar remains uninscribed.
Practice MCQs

Q1. With reference to the inscription of Sarnath on the UNESCO World Heritage List, consider the following statements:

  1. It was inscribed during the 48th session of the World Heritage Committee held in Busan, Republic of Korea.
  2. It is India’s 45th World Heritage Site and Uttar Pradesh’s fourth.
  3. The inscribed property includes the Chaukhandi Stupa and the archaeological remains containing the Dhamek and Dharmarajika stupas.
  4. Sarnath was placed on UNESCO’s Tentative List only in 2020, shortly before its nomination.

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 Sarnath and Buddhist heritage, consider the following statements:

  1. Sarnath is where the Buddha delivered his first sermon, an event known as the Dharmachakra Pravartana.
  2. The Lion Capital of Ashoka, adopted as India’s State Emblem, originally surmounted a pillar at Sarnath.
  3. Sarnath is known in ancient texts as Mrigadava or Deer Park.
  4. With Sarnath’s inscription, all four principal Buddhist pilgrimage sites are now on the UNESCO World Heritage List.

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 Sarnath was placed on the Tentative List on 3 July 1998, 28 years before inscription.
  2. (c) — Statements 1, 2, 3 are correct; Statement 4 is wrong because Kushinagar, the site of the Buddha’s mahaparinirvana, is not yet inscribed; three of the four — Lumbini, Bodh Gaya and Sarnath — are.
The Hindu
Context

The Union government has proposed the Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026, a copy of which was circulated among Members of Parliament on Saturday, 25 July 2026.

Key Facts
  • Correction to the Earlier Note
    • Investigation must be completed within 60 days (not three months). The three-month timeline applies to trial completion after filing of the chargesheet.
  • Enhanced Penalties
    • Maximum imprisonment increased, with financial penalties up to ₹10 crore for organised crime networks.
  • Specialised Enforcement Units
    • Union Government may constitute Special Task Forces (STFs) for exclusive investigation. All investigations must conclude within 60 days.
  • Special Fast Track Courts
    • States/UTs may designate Courts of Session as Special Fast Track Courts. Trials will be conducted day-to-day and completed within three months of chargesheet filing.
  • New Sections 12A & 12B
    • Introduce a continuous procedural pipeline by restricting adjournments beyond the next day except for recorded exceptional reasons.
  • Appellate Timelines
    • Appeals to be heard by a Division Bench and disposed of within three months. Appeals must be filed within 30 days, with a maximum 90-day condonation period.
  • Transfer of Pending Cases
    • Pending cases under the 2024 Act will be transferred to Special Fast Track Courts and completed within three months of transfer.
  • Special Public Prosecutors
    • States and UTs must appoint Special Public Prosecutors under the BNSS, 2023 to exclusively conduct these trials.
TOI
Context

The Prime Minister announced the establishment of fast-track courts to deliver swift and stringent justice for offences related to examination paper leaks. The Public Examinations (Prevention of Unfair Means) Amendment Bill, 2026 gives statutory backing to Special Fast Track Courts for such offences.

What They Are

  • Special, usually temporary judicial benches for expedited trial of specific, high-priority offences, complex corporate frauds, or cases involving vulnerable groups.
  • They aim to reduce backlog by holding daily hearings and adhering to strict timelines, bypassing routine adjournments.
  • Most are designated existing courts rather than newly created ones — the core structural weakness.

Constitutional and Judicial Framework

  • Article 14 (equality before law): the Supreme Court has held that Fast Track or Special Courts must comply with Article 14 — classification of offences for special treatment must be reasonable and have a rational nexus with the objective.
  • Article 21: the right to a speedy trial was read into the right to life in Hussainara Khatoon v. State of Bihar (1979).
  • Article 247: empowers Parliament to establish additional courts for better administration of laws made by it.
  • Brij Mohan Lal v. Union of India (2012): the Supreme Court examined the FTC scheme and directed that States either continue FTCs on a permanent basis or phase them out, rather than run them on uncertain ad hoc extensions.

Evolution of the Scheme

  • 11th Finance Commission (2000–2005): originally recommended and funded 1,734 Fast Track Courts for long-pending sessions and undertrial cases.
  • 14th Finance Commission (2015–2020): recommended setting up 1,800 FTCs for heinous crimes such as murder and kidnapping, and civil and property disputes pending over five years.
  • Fast Track Special Courts (FTSCs), October 2019: a Centrally Sponsored Scheme funded partly through the Nirbhaya Fund, dedicated exclusively to rape and POCSO Act cases.
  • BNSS, 2023: prescribes time limits for criminal trials — including completion of sexual offence trials within two months of the chargesheet.

Banking/Finance1

How & Why Farmers Producers Organization are formed? FPO #fpo #upsc #nabardgradea #agriculturenotesTap to play · from the C4S channel

More on this exam

Mint
Context

A NABARD study finds that less than 2% of rural households reported borrowing from fintech entities, despite India being the world’s third-largest fintech ecosystem. The expected breakthrough in last-mile financial inclusion through fintech-led credit has not materialised, even as banks expanded digital infrastructure and the government built robust Digital Public Infrastructure (DPI).

Key Highlights

  • Core Finding
    • Less than 2% of rural households borrow from fintech lenders. The main barriers are trust, awareness, and suitability, not digital infrastructure.
  • What Rural Households Prefer
    • Rural borrowers rely on PACS functioning as Common Service Centres (CSCs) because they are locally trusted, physically accessible, and offer multiple services, including input supply, procurement, deposits, and e-services.
  • Fintech Market Context
    • India is the world’s third-largest fintech ecosystem (after the US and UK), with the market projected to exceed $400 billion by 2028–29.
  • Institutional Response
    • Queries sent to the Finance Ministry, Rural Development Ministry, NABARD, RBI, and the Fintech Association for Consumer Empowerment (FACE) received no response.

Why Fintech Credit Has Not Penetrated Rural India

  • Credit assessment models rely on digital footprints, salary slips and formal bureau scores that most rural borrowers lack.
  • Thin-file and no-file borrowers — agricultural incomes are seasonal, irregular and undocumented.
  • Absence of collateral recognition — fintechs cannot lend against land as cooperatives and banks do.
  • Interest rates of digital lenders are typically far above subsidised KCC credit at 7% under the Modified Interest Subvention Scheme.
  • Digital literacy and language barriers, plus reluctance to grant app permissions.
  • Trust deficit, worsened by publicised illegal loan-app scandals, harassment and data misuse.
  • Grievance redressal is remote — no branch, no local officer to approach.
  • Smartphone and connectivity gaps persist despite high overall mobile penetration.

The Institutional Alternative Is Being Strengthened

  • PACS computerisation: an ERP-based national project with an outlay of about ₹2,516 crore covering roughly one lakh functional PACS, though implementation is uneven across states.
  • PACS are being converted into multipurpose societies delivering CSC services, fair price shops, PM-KUSUM, Jan Aushadhi Kendras and more.
  • eKisanCredit (eKCC), a fully digital loan origination system for cooperative banks, PACS and RRBs, integrating land records, Aadhaar, eKYC and core banking; NABARD acquired a 10% stake in the developer, 24×7 Moneyworks, in 2025.
  • NABARD is working with the RBI on the National Strategy for Financial Inclusion 2.0.
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Agriculture1

The Hindu
Context

The Nature Food study finds global paddy GHG emissions doubled since the 1960s, reaching 1.1 billion tonnes CO₂e annually in 2011–2020 — a 90.4% rise over 1961–1980. India tops world rice production at 154 million tonnes in 2025–26, and its irrigated paddy releases about 3.9 million tonnes of methane annually. Eastern India is among the global methane hotspots, with Odisha’s paddy fields contributing most to the state’s GHG emissions.

Key Highlights

  • Why Indian Paddy Emits High GHGs
    • Continuous flooding creates anaerobic conditions that produce methane, while residue incorporation and rising nitrogen fertiliser use increase methane and nitrous oxide emissions. Eastern India is a major global methane hotspot.
  • Loss of Soil Carbon
    • Besides methane emissions, paddy fields are losing soil organic carbon. Many fields have shifted from being carbon sinks to net emitters, with about half of the emission increase linked to soil carbon loss.
  • Alternate Wetting and Drying (AWD)
    • Periodic drying of fields can reduce methane emissions by 30–70% and save 15–30% irrigation water, but requires reliable irrigation infrastructure.
  • Direct Seeded Rice (DSR)
    • Direct sowing reduces methane emissions, water use, and labour, though adoption is limited by weed management challenges and the need for level fields.
  • System of Rice Intensification (SRI)
    • Uses young seedlings, wider spacing, and intermittent irrigation to increase yields while reducing water use and methane emissions. However, it is labour-intensive and requires farmer training.
  • Crop Diversification
    • Promotes shifting from paddy to millets, pulses, oilseeds, and maize in unsuitable regions. Adoption remains limited due to MSP, assured procurement, and subsidised electricity favouring paddy cultivation.
  • Other Mitigation Measures
    • Includes optimised fertiliser use (nano urea, neem-coated urea), Soil Health Cards, PM-PRANAM, reduced tillage, biochar/straw management, and carbon credit incentives.
  • Core Policy Challenge
    • India balances food security and climate goals. Rice supports the PDS and NFSA, agriculture is excluded from India’s NDC mitigation targets, and India has not joined the Global Methane Pledge, citing livelihood concerns for small farmers. Even with improved practices, global rice emissions may decline by only about 10% by mid-century.
Key Terms
  • Odisha Millet Mission (Shree Anna Abhiyan): A state programme launched in 2017, among India’s most successful millet revival efforts, combining seed systems, farmer training, and millet inclusion in the PDS and mid-day meals. It is the standard example of procurement-backed diversification working.
  • National Mission for Sustainable Agriculture (NMSA): One of the eight national missions under the National Action Plan on Climate Change (2008), promoting climate-resilient practices, water-use efficiency and soil health.
  • Phosphogypsum: A by-product of phosphoric acid manufacture supplying calcium and sulphur, usable as a soil amendment. Being trialled as a partial substitute for lime in acidic Kerala soils, with observed emission benefits.
  • Soil Acidity and Liming: Acidic soils limit nutrient availability; lime (calcium carbonate) is applied to neutralise them. Lime application also affects soil carbon and gas fluxes, which is why the substitution matters.

Facts To Remember18

6

Mirabai Chanu Wins Gold at Commonwealth Games 2026

Mirabai Chanu won the women’s 48 kg gold medal at the Commonwealth Games 2026 in Glasgow, securing India’s first gold medal of the Games. She created new Games records in the snatch (85 kg), clean & jerk (105 kg), and total lift (190 kg), completing a historic hat-trick of Commonwealth Games gold medals after Gold Coast 2018 and Birmingham 2022. Chanambam Rishikanta Singh also won the silver medal in the men’s 60 kg category.

7

U Mumba TT Retains Ultimate Table Tennis Title

U Mumba TT successfully defended its Ultimate Table Tennis (UTT) Season 7 title by defeating Dempo Goa Challengers 8–5 in the final held at Panaji, Goa. The victory ended Goa’s unbeaten run, with Manush Shah and teammates delivering crucial performances to help U Mumba retain the championship through superior depth and composure.

8

CPCB Flags New 'Green' Firecrackers

The Central Pollution Control Board (CPCB) informed the Supreme Court that there is no consensus on permitting the commercial production of next-generation green firecrackers. While some agencies support their introduction, others have raised concerns over the use of a banned chemical, prompting the Centre to leave the final decision to the Supreme Court.

9

Banks to Launch CKYC 2.0 in August 2026

Banks and insurance companies will launch Central Know Your Customer (CKYC) 2.0 in August 2026, with mutual funds joining later. The upgraded system enables institutions to retrieve customers’ verified KYC records from a central registry after OTP-based consent, eliminating the need to repeatedly submit PAN, Aadhaar, or address proof.

10

India Witnesses First Drone-Based Transport of Tea Leaves

A tea company has introduced India’s first drone-based transport system for moving freshly harvested tea leaves from plantations to processing centres in Idukki, Kerala. The initiative, undertaken by Harrisons Malayalam Limited (HML) in collaboration with Tropoworks, aims to reduce transport time, lower fuel costs, and improve plantation logistics.

11

Cabinet Approves ₹3,030-Crore BHAVYA-Rasayan Scheme

The Union Cabinet approved the ₹3,030-crore BHAVYA-Rasayan Scheme to establish three large chemical parks across India over FY27–FY31. The scheme will provide ₹3,000 crore for common infrastructure and utilities, while parks will be developed by state governments through a challenge-based selection process, with each requiring at least 2,000 acres of land.

12

Cabinet Approves Ballari–Guntakal Railway Multitracking Project

The Cabinet Committee on Economic Affairs (CCEA) approved the 3rd and 4th railway lines on the Ballari–Guntakal section across Karnataka and Andhra Pradesh at a cost of nearly ₹1,264 crore. The 46-km project, targeted for completion by 2028–29, will improve connectivity to around 99 villages with a population of nearly 7 lakh.

13

CSIR Transfers Four Indigenous Technologies to Industry

The Council of Scientific and Industrial Research (CSIR) transferred four indigenous technologies to industry and commercially launched an IoT-enabled Smart Rural Water Monitoring System during a Technology Transfer Event in New Delhi. Organised by CSIR-CSIO, the event also saw BEL receive licensed defence technologies, while CSIR earned ₹1.67 crore in royalties.

14

Bihar to Establish NSTI-W Campus and Skill India International Centre

The Government of Bihar and the Ministry of Skill Development and Entrepreneurship (MSDE) announced the establishment of a permanent National Skill Training Institute for Women (NSTI-W) campus at Bihta and a Skill India International Centre (SIIC) in Patna. The projects, with investments of ₹99.97 crore and ₹7 crore, aim to promote women’s skilling and global employment opportunities.

15

ICAR-CMFRI Launches DeepDATA App

ICAR-CMFRI launched the DeepDATA mobile application under the Deep Ocean Mission to provide scientifically verified information on deep-sea fish species. The app enables citizen participation in documenting marine biodiversity while supporting marine research, conservation, and sustainable fisheries management.

16

Viswanathan Anand Becomes Interim President of FIDE

India’s five-time World Chess Champion Viswanathan Anand assumed charge as the Interim President of FIDE after Arkady Dvorkovich suspended his duties. Anand, who has served as FIDE Deputy President since 2022, became the first Indian to lead the International Chess Federation in an interim capacity.

17

Infosys Appoints Ashiss Kumar Dash as CEO-Designate

Infosys appointed Ashiss Kumar Dash as its CEO-Designate, with effect from 1 April 2027, succeeding Salil Parekh. Dash, an Infosys veteran with over 30 years of experience, has been appointed for a five-year term (2027–2032), subject to shareholders’ approval.

18

ZSI Discovers Two New Spider Species

Scientists from the Zoological Survey of India (ZSI) discovered two new spider species—Simonia lawbah from Meghalaya and Hamataliwa papikonda from Andhra Pradesh. The discoveries mark the first Indian record of the genus Simonia and the first record of Hamataliwa in Andhra Pradesh, enriching India’s biodiversity records.

19

Nicolás Otamendi Retires from International Football

Argentina’s veteran defender Nicolás Otamendi announced his retirement from international football after a distinguished 17-year career. He represented Argentina in 139 international matches, won the 2022 FIFA World Cup and two Copa América titles, and retired after the 2026 FIFA World Cup Final.

World In Vitro Fertilization (IVF) Day, also known as World Embryologist Day, is observed annually on 25 July to promote awareness about IVF technology and Assisted Reproductive Technology (ART). The day commemorates the birth of Louise Brown, the world’s first IVF baby, born in 1978.

The International Day for Judicial Well-being is observed annually on 25 July to promote the mental, emotional, and physical well-being of judges and magistrates. The day commemorates the adoption of the Nauru Declaration on Judicial Well-being (2024) and was officially proclaimed by the UN General Assembly in 2025.

22

International Day of Women and Girls of African Descent Observed

The United Nations observed the International Day of Women and Girls of African Descent on 25 July 2026 with the theme “Right to Health – A Fundamental Right Still Denied.” The observance highlights the rights, leadership, and contributions of women and girls of African descent while addressing inequalities in healthcare access and social inclusion.

23

Glasgow 2026 Commonwealth Games Underway

The 2026 Commonwealth Games (Glasgow 2026) are being held from 23 July to 2 August 2026 in Glasgow, Scotland. The XXIII Commonwealth Games are a scaled-back, low-cost edition after Victoria (Australia) withdrew in 2023 due to cost escalation. The quadrennial multi-sport event, governed by Commonwealth Sport, features athletes from 74 Commonwealth nations and territories, while Scotland hosts the Games for the fourth time after Edinburgh (1970 & 1986) and Glasgow (2014).

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