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. Nepal Flash Flood 2026
Source: Indian Express
Context: On 26 August 2026, a devastating flash flood struck the mountainous region along the Nepal–China border.
What Happened
- Worst-affected areas: Rasuwa, Nuwakot, Dhading and Chitwan in Nepal
- Also affected Tibet’s Gyirong County and Gyirong Port
- A major torrent of water, ice, rock, mud and debris rushed downstream through Himalayan river valleys
- Villages, bridges, roads, hydropower infrastructure and other facilities were destroyed
- The flood travelled through the Bhote Koshi–Trishuli/Narayani–Gandak river system
- Because this system connects with northern India, authorities in Bihar and Uttar Pradesh monitored the situation
- Nepal’s government described extensive damage to homes, schools, hospitals, roads, bridges and hydropower plants
What Triggered It?
This was not a conventional monsoon flood. The disaster developed through a rapid chain of events:
Glacier / ice-rock collapse
↓
Ice and rock avalanche
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Large amount of debris enters the river/tributary
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River gets temporarily blocked or its flow is suddenly displaced
↓
Water + ice + mud + rocks surge downstream
↓
Flash flood + powerful debris flow
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Destruction of settlements and infrastructure
Was It a GLOF?
- A GLOF (Glacial Lake Outburst Flood) occurs when a glacial lake suddenly releases a large volume of water, usually because its natural dam fails.
- In this case: the initial trigger was a glacier / ice-rock collapse and avalanche, not a classic GLOF.
- But: the disaster subsequently created or affected temporary barrier lakes, raising the possibility of another flood if those unstable lakes breach.
Why the Himalayas Are Becoming More Vulnerable
Rising temperatures — the Hindu Kush Himalaya (HKH) region is warming rapidly. Higher temperatures:
- Accelerate glacier melting
- Weaken glacier structures
- Destabilise mountain slopes
- Increase rockfalls and avalanches
- Contribute to formation and expansion of glacial lakes
- Destabilise permafrost
- Increase the probability of sudden flood events
2. The DAANVEER Initiative
Source: PIB
Context: The Ministry of Panchayati Raj called for nationwide public participation under the ‘DAANVEER’ initiative — encouraging citizens, CSR entities and the Indian diaspora to donate desktop computers to verified Gram Panchayats.
What It Is
- A technology-enabled, people-led Computer Crowdsourcing Initiative
- Allows individuals, philanthropic organisations, CSR partners and the diaspora to directly purchase and donate standardised desktop computers
- To state-verified Gram Panchayats needing digital hardware
About
- Nodal Ministry: Panchayati Raj (MoPR)
- Complements: infrastructure funding under the Rashtriya Gram Swaraj Abhiyan (RGSA)
- Aim: bridge the rural digital divide and strengthen grassroots digital governance by augmenting IT hardware across Gram Panchayats through voluntary, transparent public contributions.
Key Features
- App-to-marketplace integration: Select a verified Panchayat on Meri Panchayat App → purchase through DigiHaat (ONDC) with pre-filled details.
- Standardised hardware: Donors choose government-approved computer bundles meeting required technical specifications.
- State-level verification: Only Panchayats officially identified as lacking IT infrastructure are listed.
- Real-time tracking: Track the entire process from payment and dispatch to delivery and receipt.
- Digital recognition: Panchayat Secretary confirms delivery → donor receives a verifiable Certificate of Appreciation.
3. Ammannia telanganensis
Source: New Indian Express
Context: A new freshwater flowering plant species discovered in Telangana has been named Ammannia telanganensis and described in the international taxonomy journal Phytotaxa.
What It Is
- An annual, herbaceous, semi-aquatic flowering plant
- Belongs to the Lythraceae (loosestrife) family
- A newly classified species within the genus Ammannia — a group of wetland-adapted herbs found in tropical and subtropical freshwater habitats
Habitat and Distribution
- Ecosystem: grows in wet, sandy soils along seasonal streams, temporary puddles and marshy margins of freshwater bodies
Where found:
- Rangareddy district — Narsingi and Gachibowli
- Nagarkurnool district — Vatwarlapalle, in the Amrabad Tiger Reserve
- Associated flora: co-exists with Ammannia multiflora and various Rotala species
- Flowering and fruiting: post-monsoon through winter — November to February
Key Terms
- Pedunculate — borne on a stalk; sessile — attached directly, without a stalk
- Apetalous — lacking petals
- Testa — the outer seed coat
- Cyme — a flower cluster in which the central flower opens first
- Riparian — relating to the bank of a river or stream
4. NABARD-NaBFID MoU on Rural Infrastructure Financing
Source: ET
Context: NABARD and the National Bank for Financing Infrastructure and Development (NaBFID) signed an MoU to enhance financing support for rural infrastructure and Public-Private Partnership (PPP) projects, by providing long-term and competitively priced finance.
The Objective
- Enhance availability of long-term finance for rural infrastructure and allied value chains
- Support commercially viable projects
- Improve connectivity and market access
- Boost rural incomes
Focus Areas
- Water and sanitation
- Irrigation
- Post-harvest storage and cold-chain infrastructure
- Terminal markets
- Rural roads and bridges
- Warehousing
- Compressed biogas projects
About NaBFID
| Detail | |
|---|---|
| Established | 2021, under the NaBFID Act, 2021 |
| Headquarters | Mumbai, Maharashtra |
| Status | India’s Development Finance Institution (DFI) for infrastructure financing |
| Managing Director | Rajkiran Rai G |
5. Banas Bio-CNG Model Plant Inaugurated
Source:TOI
Context: The Banas Bio-CNG Model Plant — a joint initiative of Banas Dairy, Suzuki Motor Corporation and the National Dairy Development Board (NDDB) — was inaugurated at Vinchhivadi, Dhanera taluka, Banaskantha district, Gujarat.
Purpose: promote clean energy, circular economy and additional income opportunities for livestock farmers.
How the Plant Works
- Processes 100 metric tonnes per day (MTPD) of cattle dung
- Through anaerobic digestion
- To produce clean fuel and organic fertiliser
Gramin Bharat Taxi
- Nine taxis were flagged off under the country’s first rural-level cooperative-model “Gramin Bharat Taxi” service
- Under which drivers own their vehicles
6. Climate-Proofing India’s Food System
Source: The Hindu
Context: India has strong food production and buffer stocks, but must build a climate-resilient, sustainable food-security system to protect agriculture, supply chains and the PDS from rising temperatures, erratic monsoons and groundwater depletion.
What Climate-Proofing Means
- Redesigning national agricultural, procurement, storage and public distribution policies to withstand climate change
- Shifting focus away from volumetric calorie production through monoculture
- Toward “sustainable food and nutrition security”
Five Pillars of a Climate-Resilient Food System
- Diversified procurement: Expand MSP beyond rice and wheat to millets, pulses and oilseeds suited to local climates.
- Diversified PDS: Add millets and pulses to PDS, PM POSHAN and Anganwadi programmes for better nutrition and lower water use.
- Climate-proof storage: Develop flood-resilient silos, temperature-controlled storage and cold chains.
- Weather-based planning: Use IMD forecasts for buffer stocks, MSP procurement and district-level contingency planning.
- Sustainable farming: Promote micro-irrigation, climate-resilient seeds and weather-indexed crop insurance under PM Fasal Bima Yojana.
7. Global Drought Resilience Architecture: DRI and DRIF
Source: Times of India
Context: At UNCCD COP17, a new global drought resilience architecture was launched to shift from reactive crisis response to proactive preparedness — featuring the world’s first Drought Resilience Index (DRI) and Drought Resilience Investment Facility (DRIF).
Drought Resilience Index (DRI)
- What it is: the world’s first comprehensive technical monitoring metric to evaluate a country’s systemic capacity to handle and withstand drought.
- Aim: enable countries to assess their capacity to anticipate, prepare for and adapt to droughts, while identifying structural vulnerabilities to inform data-driven policies and investments.
Key features:
- AI-powered analytics — helps policymakers, technical experts and the public interpret complex climate and geographical data into practical insights
- Vulnerability mapping — pinpoints regional and national vulnerabilities, allowing governments to target high-risk areas before a drought escalates into a humanitarian crisis
- Proactive paradigm shift — from reactive disaster relief to technology-enabled resilience and preparedness
- Policy and investment guide — turns raw metrics into actionable intelligence on where to allocate resources
Drought Resilience Investment Facility (DRIF)
- What it is: the world’s first global catalytic financing platform dedicated exclusively to funding and scaling drought resilience projects.
- Aim: use public capital to reduce investment risk, thereby unlocking much larger flows of institutional and private finance.
8. Government Introduces Fortnightly Sugar Allocation System
- The Centre will introduce a fortnightly sugar allocation system from September, replacing the monthly quota system.
- Mills must sell at least 40% of their allocation in the first week.
- The remaining allocation must be sold in the following week.
- Mills have also been directed to dispatch sold sugar within one week, aimed at improving market supply.
Schemes in News
1. PM SVANidhi Completes One Year of Restructured Phase
- PM SVANidhi completed one year of its restructured phase on 27 August 2026.
- The revamped scheme goes beyond credit to include digital payments, social security, financial inclusion and entrepreneurship.
- The scheme has been extended up to 31 March 2030.
- It provides collateral-free working-capital loans to street vendors, with a 7% interest subsidy on timely repayment.
Reports/Articles in News
1. S&P Flags Risk of Fiscal Slippage in India
- S&P Global Ratings flagged a risk of slippage in the Centre’s fiscal deficit target while retaining a stable outlook.
- The Centre’s FY27 fiscal deficit target is 4.3% of GDP.
- S&P expects the Centre’s deficit to decline to 3.9% by FY30.
- General government fiscal deficit is projected at 7.3% of GDP in FY27, declining to 6.6% by FY30.
PIB in News
1. National Conclave on Tribal Languages and Museums Held in Mysuru
- The Ministry of Tribal Affairs organised the National Conclave on Tribal Languages & Museums from 24–26 August 2026.
- The Mysuru Declaration was adopted, focusing on preservation and revitalisation of tribal languages.
- The upgraded Adi Vaani Platform and Jago AI Conversational Assistant were launched.
- MoTA and CIIL signed an MoU for documentation, preservation and promotion of tribal languages.
2. India’s Maritime Roadmap Discussed at Sagar Samvad
- Union Minister Sarbananda Sonowal chaired the inaugural Sagar Samvad in New Delhi.
- The theme focused on Maritime India Vision 2030 and Maritime Amrit Kaal Vision 2047.
- The five-point roadmap covers fiscal reforms, assured cargo, competitive financing, regulatory simplification and Ease of Doing Business.
- India also plans to add 100 new vessels to its foreign-dependent merchant fleet over the next five years.
3. Critical Minerals Innovation Hackathon 2026 Launched
- Union Minister G. Kishan Reddy launched CMiH 2026 to promote innovation in critical minerals.
- One problem statement focuses on mapping lithium and rare-earth-element pegmatite zones using open-source data.
- Another focuses on a Smart Technology & Patent Tracker for critical minerals.
- The initiative supports the National Critical Mineral Mission by involving students, researchers, startups and innovators.
RBI Current Affairs
Banking and Finance
1. PMJDY: 12 Years of Financial Inclusion
Source: PIB
Context: The Pradhan Mantri Jan Dhan Yojana (PMJDY) completed 12 years since its launch by the Prime Minister in 2014.
What PMJDY Is
- India’s National Mission for Financial Inclusion
- Provides universal, affordable access to formal financial services for unbanked adults
- Anchored in the principle: “Banking the Unbanked, Securing the Unsecured, Funding the Unfunded”
- Provides Basic Savings Bank Deposit (BSBD) accounts with no minimum balance requirement
- Integrates with Direct Benefit Transfers through the Jan Dhan-Aadhaar-Mobile (JAM) trinity
Important Facts for Exams
- PMJDY launched 28 August 2014 by the Prime Minister; announced from the Red Fort on 15 August 2014
- Tagline: “Mera Khaata, Bhagya Vidhata”
- Principle: Banking the Unbanked, Securing the Unsecured, Funding the Unfunded
- Under the Department of Financial Services, Ministry of Finance
2. RBI Relaxes FCNR(B) Swap Access for Large Transactions
- RBI allowed banks to access its concessional dollar-rupee swap facility outside their designated weekly window.
- The relaxation applies to FCNR(B)-related transactions exceeding $100 million.
- Banks receiving such inflows can now access the facility on the same day instead of waiting for their allotted day.
- The move aims to reduce the lag between mobilisation of funds and transfer to RBI.
RBI and NABARD Current Affairs
1. Samarthak — India’s First Indigenous Multi-Purpose Vessel
Source: Times of India
Context: Samarthak, the first indigenously designed and constructed Multi-Purpose Vessel (MPV), built by Larsen & Toubro at its Kattupalli shipyard, was formally delivered to the Indian Navy.
What It Is
- The lead ship of the Indian Navy’s new class of Multi-Purpose Vessels
- Displacement: about 3,750 tonnes
- A versatile naval auxiliary platform for secondary combat, trials, training, logistics and environmental protection missions
Economy in News
1. Russia Remains India’s Largest Crude Oil Supplier
- India’s Russian crude imports are expected at around 2.1 million barrels per day (mbpd) in August 2026.
- This is lower than the record 2.6 mbpd recorded in June and July.
- Despite the decline, Russia continues to account for more than 40% of India’s crude imports.
- Lower imports reflect factors such as refinery maintenance, reduced Russian availability and increased competition from China, rather than weakening Indian demand alone.
Social Issue in News
1. Mizoram Declares 79 Heritage Sites as State Protected Monuments
- Mizoram declared 79 monuments and archaeological sites as State Protected Monuments.
- The move aims to preserve the State’s historical and cultural heritage.
- Two sites in Champhai district have also been recognised as Monuments of National Importance by the ASI.
- Four additional sites have been proposed for protection.
Misc GA in News
1. Trishuli River System Hit by Catastrophic Flash Flood
- A catastrophic flash flood originating from a dammed lake in Tibet affected the Trishuli river system in Nepal.
- The event followed a 4.4-magnitude earthquake and sent an estimated 20 million cubic metres of excess water downstream.
- The affected system includes the Bhote Koshi–Trishuli–Narayani rivers.
- The Trishuli is a transboundary, snow-fed Himalayan river and an important tributary of the Gandaki/Narayani basin.
2. India Signs Javelin Missile Procurement Agreement with the US
- India signed a Letter of Offer and Acceptance (LOA) with the US for Javelin anti-tank guided missile systems.
- Procurement will take place through the US Foreign Military Sales (FMS) route.
- The Javelin is an anti-tank guided missile system.
- The agreement strengthens India-US defence cooperation.
3. DRDO Tests Indigenous Military Combat Parachute System
- DRDO successfully tested the Military Combat Parachute System (MCPS) in Ladakh.
- The system demonstrated jumps from 22,000 feet in temperatures of around −15°C.
- It was developed by ADRDE, with life-support systems from DEBEL.
- MCPS supports HALO and HAHO operations and incorporates features such as improved steering and NavIC compatibility.
4. SpaceX Announces Starbase Louisiana
- SpaceX announced plans for a USD 100 billion rocket launch complex in southern Louisiana.
- The facility, called Starbase Louisiana, is planned as a large-scale spaceport for Starship operations.
- Construction is planned to begin in 2027, with the first Starship launch targeted for 2029.
- It would become SpaceX’s fourth US launch site and second Starship-focused launch complex.
5. L&T Delivers Indigenous Multi-Purpose Vessel ‘Samarthak’
- The Indian Navy received its first indigenous Multi-Purpose Vessel (MPV), Samarthak, built by L&T.
- The Ministry of Defence had signed an ₹887-crore contract with L&T in 2022 for two MPVs.
- The vessel has more than 75% indigenous content.
- It will serve as a versatile platform for testing indigenous naval weapons and sensors.
6. New Sunflower Family Species Discovered in Arunachal Pradesh
- CSIR-IHBT researchers discovered Doronicum sanctum in Tawang district of Arunachal Pradesh.
- The species was found at an altitude of around 4,000 metres.
- It is the first documented species of the Doronicum genus in Northeast India.
- The discovery highlights the rich biodiversity of the Eastern Himalayas.
Praggnanandhaa Becomes First Indian to Win Grand Chess Tour
- Indian Grandmaster R. Praggnanandhaa won the Grand Chess Tour 2026 Finals.
- He defeated Fabiano Caruana 15–13 in the final at the Saint Louis Chess Club.
- He became the first Indian champion of the Grand Chess Tour.
- He received a USD 200,000 winner’s prize.
7. Lando Norris Wins 2026 Dutch Grand Prix
- Lando Norris of McLaren won the 2026 Dutch Grand Prix at Zandvoort, Netherlands.
- The race was the 12th round of the 2026 Formula One World Championship.
- Kimi Antonelli finished second, while George Russell finished third.
- The victory helped Norris reduce the championship gap.
8. World Sanskrit Day Observed on 28 August
- World Sanskrit Day 2026 was observed on 28 August.
- It is celebrated annually on Shravana Purnima to promote the Sanskrit language.
- The observance was initiated by the Ministry of Education in 1969.
- The day also commemorates Panini, the ancient Sanskrit grammarian and author of Ashtadhyayi.
