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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Maldives and India Launch Real-Time Cross-Border Payments Through Favara-Unified Payments Interface Integration

• The Maldives Monetary Authority (MMA) announced the successful go-live of the integration between Maldives Instant Payment System “Favara” and India’s Unified Payments Interface (UPI) on 30 July 2026.
• The Favara-UPI integration marks a major milestone in cross-border digital financial connectivity and strengthens bilateral economic cooperation between India and Maldives.
• The new service enables individuals in the Maldives to make real-time cross-border fund transfers to beneficiaries in India using the Favara payment system.

Key Highlights :

• Under the new facility, transactions are initiated in Maldivian Rufiyaa (MVR) and credited to recipients in Indian Rupees (INR) through UPI-enabled bank accounts.
• The service has been launched initially with the participation of two Maldivian banks, namely Bank of Maldives Plc and Maldives Islamic Bank Plc.
• Customers of participating banks can make Person-to-Person (P2P) transfers directly to UPI-enabled bank accounts in India through their mobile banking applications using the Favara payment rail.
• Permitted remittance categories under the service include family-maintenance-related remittances under Foreign Inward and Foreign Outward Remittance, along with gift-related remittances under Foreign Outward Remittance.
• The implementation of Favara-UPI integration reflects collaboration between the Maldives Monetary Authority (MMA), Reserve Bank of India (RBI), NPCI International Payments Limited (NIPL), financial institutions, and stakeholders from both countries.
• The agreement for Favara-UPI integration was signed between NIPL and MMA in July 2025.
• The payment corridor achieved operational readiness after an accelerated 10-day timeline involving testing, certification, onboarding, and live validation.
• Future phases of the collaboration will introduce additional digital payment services, including QR-based merchant payments and other innovative cross-border payment solutions.
• The expansion of UPI international services will further strengthen financial connectivity, trade relations, and economic ties between India and Maldives.
• UPI is currently accepted in nine countries, including Cambodia, Singapore, United Arab Emirates (UAE), France, Mauritius, Nepal, Bhutan, Qatar, and Sri Lanka.
• The international acceptance of UPI enables Indian travellers to make seamless digital payments abroad.
• NPCI International Payments Limited (NIPL) is the international arm of National Payments Corporation of India (NPCI), responsible for expanding UPI and RuPay payment solutions globally.
• NPCI is an initiative of the Reserve Bank of India (RBI) and the Indian Banks’ Association (IBA) and operates India’s retail payment and settlement systems.

About Maldives :

• President : Mohamed Muizzu
• Capital : Malé
• Currency : Maldivian rufiyaa

Public Sector Banks Record Zero Locker Theft Cases in FY26 After 40 Incidents, Reserve Bank of India Strengthens Locker Security Norms

• For the first time in five years, Public Sector Banks (PSBs) in India reported zero bank locker theft cases in FY 2025–26.
• During the period from FY 2021–22 to FY 2025–26, a total of 40 established bank locker theft cases were reported across India’s 12 Public Sector Banks (PSBs).

Key Highlights :

• As of 31 March 2026, a total of 1,11,11,077 bank lockers were operational across Public Sector Banks (PSBs).
• The highest number of locker theft cases during the five-year period was reported by Bank of India and Central Bank of India, with 14 cases each.
• State Bank of India (SBI) reported the third-highest number of locker theft cases with 10 cases during the period.
• The number of locker theft cases declined significantly after reaching a peak during the post-COVID-19 pandemic period, with 16 cases in FY 2021–22 and 17 cases in FY 2022–23.
• Locker theft cases reduced to 3 cases in FY 2023–24, 4 cases in FY 2024–25, and finally zero cases in FY 2025–26.
• Among states, Uttar Pradesh recorded the highest number of established bank locker theft cases with 18 cases during the five-year period.
• Jharkhand reported the second-highest number of locker theft cases with 12 cases, followed by Maharashtra with 5 cases.
• Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, and Haryana reported 1 case each during the five-year period.
• The Reserve Bank of India (RBI) issued revised Bank Locker Guidelines in 2021 to strengthen security standards and improve customer protection.
• The RBI Bank Locker Guidelines 2021 mandate banks to adopt a model locker agreement, maintain CCTV surveillance, provide SMS and email alerts, maintain access logs, and follow standard procedures for locker breaking operations.
• Banks are required to disclose their locker-related policies and procedures on their official websites as per RBI guidelines.
• Banks must ensure locker premises have CCTV cameras, theft alarms, fire safety systems, guarded strong rooms, and protection against natural and man-made hazards.
• RBI guidelines require banks to maintain digital records of every locker operation along with proper customer access verification.
• CCTV cameras must cover entry and exit points of strong rooms and common areas, with recorded footage preserved for at least 180 days.
• Strong rooms must have a single defined entry and exit point and should be protected against fire, floods, and unauthorised break-ins.
• Banks must provide immediate SMS and email notifications to customers whenever their locker is accessed.
• Banks are required to maintain detailed locker access logs, including check-in and check-out timings and verified signatures of locker users.
• The RBI monitors compliance with locker guidelines through sample-based supervisory assessments of banks and takes corrective or enforcement action for non-compliance.
• Under RBI rules, banks are liable for losses caused due to fire, theft, burglary, dacoity, robbery, building collapse, or fraud by bank employees arising from the bank’s negligence.
• The compensation liability of banks for locker losses is capped at 100 times the prevailing annual locker rent.

National Commodity and Derivatives Exchange Limited Introduces ‘Nidhi’ Mutual Fund Platform to Boost Investment Access in Rural India

• The National Commodity and Derivatives Exchange Limited (NCDEX) launched “NCDEX Nidhi”, a new Mutual Fund (MF) transaction platform aimed at increasing MF penetration in rural and semi-rural India.
• NCDEX Nidhi leverages the network of 800 Farmer Producer Organisations (FPOs) and certified local MF distributors to expand investment opportunities among rural investors.
• The platform has been developed using an Application Programming Interface (API)-first architecture, providing flexibility to Mutual Fund distributors.
• Through the API-first design, MF distributors can either directly use the NCDEX Nidhi platform or integrate its APIs into their own systems for seamless transactions.
• The platform offers investor-friendly features such as UPI AutoPay for Systematic Investment Plans (SIPs), making regular investments easier and more convenient.
• NCDEX Nidhi provides end-to-end transaction time-stamping until Net Asset Value (NAV) allocation, improving transparency and transaction tracking.
• The platform also provides detailed transaction failure reasons, helping investors and distributors understand and resolve payment or transaction issues efficiently.
• Initially, 6 Asset Management Companies (AMCs) have been onboarded on the platform, including Nippon India MF, HDFC MF, Axis MF, LIC MF, Tata MF, and Invesco MF.
• Around 20 more Asset Management Companies (AMCs) are expected to join the NCDEX Nidhi platform by 31 August 2026.

About NCDEX :

• NCDEX (National Commodity and Derivatives Exchange Limited) was incorporated in 2003 and is a SEBI-regulated digital commodity exchange.
• NCDEX is primarily focused on agricultural derivatives and risk management, supporting farmers, traders, and stakeholders in the agricultural sector.
• The headquarters of NCDEX is located in Mumbai, Maharashtra.

SBI Card and Google Pay Introduce Co-Branded Credit Card with Unified Payments Interface-Enabled RuPay Variant

• SBI Cards and Payment Services Limited (SBI Card), in partnership with Google Pay, launched a new co-branded credit card named “Google Pay Flex SBI Card” to make daily spending more rewarding for users.
• The Google Pay Flex SBI Card is available on both RuPay and Visa payment networks, providing wider accessibility to customers.
• The RuPay variant of the card supports Unified Payments Interface (UPI) linkage, enabling payments at UPI-enabled merchants.
• The card offers annual rewards of up to ₹18,000 on eligible spending categories such as groceries, utility bills, travel, shopping, and online & in-store purchases.
• Cardholders can earn up to 8 Stars for every cumulative ₹500 spent on eligible transactions, where 1 Star = ₹1.
• The earned Stars can be redeemed instantly through the Google Pay app or exchanged for select vouchers.
• The card is integrated with the Google Pay app, allowing users to apply for the card, track spending, redeem rewards, and manage their account digitally.
• Customers can avail the benefits of the Google Pay Flex SBI Card by paying a joining fee of ₹499 plus applicable taxes, which is also applicable as the annual renewal fee.
• Cardholders can receive a renewal fee waiver by achieving annual spends of ₹1 lakh.
• The card provides the facility to convert outstanding credit card dues into Equated Monthly Instalments (EMIs) through flexible repayment options.

About SBI Card :

• Launched : 1998
• It is a joint venture (JV) between State Bank of India (SBI) and GE Capital.
• Headquarters : Gurugram, Haryana.

Department of Financial Services Introduces Sovereign-Backed Protection & Indemnity Insurance Product Under Bharat Maritime Insurance Pool

• The Department of Financial Services (DFS), Ministry of Finance launched India’s first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP) in New Delhi.

Key Highlights :

• The Protection & Indemnity (P&I) insurance product has been designed by The New India Assurance Company Limited (NIACL) to strengthen India’s maritime insurance ecosystem.
• The launch event was chaired by the Secretary, Department of Financial Services (DFS) and attended by senior officials from DFS, Directorate General of Shipping, General Insurance Corporation of India (GIC Re), Shipping Corporation of India (SCI), and other maritime organisations.
• The first P&I policy document under BMIP was issued by New India Assurance Company Limited and handed over to Shipping Corporation of India Limited (SCI).
• The P&I insurance policy provides financial protection against third-party liabilities including Crew Liability, Cargo Liability, Pollution Liability, and Wreck Removal.
• The policy also provides a 24x7 port correspondent network with an indemnity limit of up to USD 1.5 billion through the combined capacity of the Bharat Maritime Insurance Pool (BMIP).
• Bharat Maritime Insurance Pool (BMIP) was operationalised by the Department of Financial Services (DFS) on 12 May 2026 with the support of a sovereign guarantee.
• The primary objective of BMIP is to provide uninterrupted war risk insurance capacity to Indian maritime stakeholders.
• Since its launch, BMIP has achieved significant market acceptance and strengthened India’s ability to manage maritime war risks domestically.
• The introduction of BMIP resulted in a reduction of war risk insurance premium rates by around 35–40% compared with rates observed during the peak of the West Asia conflict.
• As of 29 July 2026, a total of 1,608 policies covering Cargo War Risks and Hull War Risks have been issued under the BMIP.
• The expansion of BMIP to include Protection & Indemnity (P&I) coverage will strengthen India’s maritime risk management framework and improve the resilience of the country’s insurance sector.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

CABINET APPROVALS:

Union Cabinet Approves Pradhan Mantri Surya Sarovar Yojana (PM-SSY) with ₹5,070 Crore Outlay

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS), with a total outlay of ₹5,070 crore.
• The scheme aims to develop 5,000 Megawatt (MW) of Floating Solar Photovoltaic (FSPV) capacity along with co-located Energy Storage Systems (ESS) having a minimum storage capacity of two hours (10,000 Megawatt-hour (MWh)).
• The projects will be sanctioned during Financial Year (FY) 2026–27 to FY 2030–31, while the financial assistance will continue up to FY 2032–33.
• The scheme follows an assessment by the National Institute of Solar Energy (NISE), which estimated India's floating solar potential at approximately 102.18 Gigawatt-peak (GWp) across reservoirs and other inland water bodies.
• Under the scheme, Central Financial Assistance (CFA) of ₹1 crore per MW will be provided after successful commissioning of eligible projects. An additional CFA of up to ₹50 lakh per project will be provided for feasibility studies, including bathymetry, hydrography, environmental assessments, and other preparatory activities.
• The scheme will be implemented across all States and Union Territories, increasing India's floating solar capacity from the existing around 700 MW to 5,700 MW.
• The projects will enable the productive use of reservoirs and industrial ponds, reduce pressure on scarce land resources, and improve grid reliability through integrated energy storage.
• The scheme is expected to reduce nearly 10 million tonnes of carbon dioxide (CO₂) emissions annually and generate approximately 16,000–17,000 full-time equivalent employment opportunities across the renewable energy value chain.
• It will also promote domestic manufacturing of floating platforms, photovoltaic cells, solar modules, and energy storage systems, supporting the Aatmanirbhar Bharat initiative and strengthening India's renewable energy ecosystem.

Union Cabinet Approves Continuation of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme with ₹3.15 Lakh Crore Outlay (2026–31)

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme for the period 2026–27 to 2030–31 with a financial outlay of ₹3.15 lakh crore.
• Launched in February 2019, the scheme provides income support of ₹6,000 per year to eligible landholding farmer families, transferred directly into their bank accounts in three equal instalments through the Direct Benefit Transfer (DBT)
• The scheme uses Aadhaar-based authentication, digital beneficiary verification, and the DBT mechanism to ensure transparent, efficient, and accountable transfer of financial assistance.
• Since its launch, more than ₹4.47 lakh crore has been transferred directly to farmers through 23 instalments. Under the 23rd instalment, over 9.49 crore farmers received financial assistance of more than ₹18,984 crore.
• During the COVID-19 pandemic, the scheme disbursed more than ₹1.71 lakh crore to support farmers, while women farmers have received over ₹1.06 lakh crore, with nearly one-fourth of all beneficiaries being women.
• The financial assistance enables farmers to invest in seeds, fertilisers, irrigation, agricultural machinery, and other farming inputs, reducing dependence on informal credit and improving the financial stability of rural households.
• According to the Development Monitoring and Evaluation Office (DMEO), NITI Aayog, 92% of beneficiaries used the assistance for agricultural activities, while 85% reported higher agricultural income and reduced dependence on informal loans.
• During 2020–21 to 2025–26, India's agriculture sector recorded significant growth, with the cultivated area increasing by 9.65%, productivity by 10.53%, and foodgrain production by 21.18%.
• The continuation of PM-KISAN is expected to strengthen agricultural investment, improve farm productivity, reduce agricultural risks, promote self-reliance among farmers, and support the vision of Viksit Bharat.

Expanded Khelo India Scheme & Enhanced Assistance to National Sports Federations Approved with ₹36,441 Crore Outlay (2026–31)

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the expanded Khelo India Scheme and the Enhanced Assistance to National Sports Federations (ANSFs) with a combined outlay of ₹36,441 crore for the period 2026–27 to 2030–31.
• The approved allocation is nearly eight times higher than the previous Khelo India Scheme, making it India's largest sports development programme since Independence.
• The revamped scheme aligns with the Khelo Bharat Niti, 2025 and the National Education Policy (NEP), 2020, aiming to create a seamless pathway from grassroots sports to the Olympic podium.
• A comprehensive athlete development pathway has been introduced to support athletes through talent identification, scientific training, international exposure, and Olympic preparation.
• The scheme strengthens the national sports ecosystem through institutions such as:
  • National Centres of Excellence (NCOEs)
  • Khelo India Centres of Excellence (KICoEs)
  • Sports Authority of India (SAI) Training Centres (STCs)
  • Khelo India Accredited Academies (KIAAs)
  • Khelo India Centres (KICs)
  • Youth Sports Companies (YSCs) of the Armed Forces.
• To strengthen school-level sports, two new initiatives have been launched:
  • Khelo India Feeder Schools (KIFS) for early talent identification.
  • Khelo India Utkrishta Vidyalayas (KIUV) to integrate sports with mainstream education.
• A new category, Emerging Khelo India Athletes (E-KIAs), has been introduced, expanding the structured athlete development ecosystem by nearly ten times.
• The scheme establishes a nationwide talent identification framework through Talent Identification Development Committees, Zonal Committees, Talent Scouts, High Performance Directors, and High Performance Managers.
• The Fit India Movement will be expanded to promote fitness, women's participation, sports in border and remote areas, and anti-drug awareness through sports.
• A National Coach Accreditation Board (NCAB) will be established to standardise coaching qualifications and improve the quality of coaches and support staff.
• A unified digital sports platform will integrate athlete databases, competitions, infrastructure, coaching resources, funding, and fitness initiatives to enable data-driven governance and athlete development.
• The Assistance to National Sports Federations (ANSFs) Scheme will provide financial support for coaching, sports science, modern equipment, international exposure, foreign experts, coaching camps, and participation in major international competitions.
• The scheme will also promote sports cooperation with Global South countries and support the international promotion of India's indigenous sports.
• Union Cabinet Approves ‘Samudra Manthan’ – National Offshore Exploration Scheme
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved 'Samudra Manthan' – the National Offshore Exploration Scheme, a Central Sector Scheme of the Ministry of Petroleum and Natural Gas, with an approved outlay of ₹84,084 crore for implementation up to Financial Year 2030–31.
• The scheme aims to strengthen India's energy security by accelerating offshore oil and natural gas exploration and production, enhancing domestic hydrocarbon reserves, promoting technological innovation, and supporting the vision of Viksit Bharat.
• The scheme includes large-scale acquisition, processing and interpretation of high-quality seismic data, deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, development of common offshore production and evacuation infrastructure, and the establishment of an Integrated Oil and Gas Manufacturing and Services Zone.
• It also provides for digital programme management, capacity building, technology adoption, stakeholder engagement, and international collaboration to build a robust offshore exploration ecosystem.
• Samudra Manthan is expected to facilitate the addition of more than 600 Million Metric Tons of Oil Equivalent (MMTOE) in hydrocarbon reserves, increase domestic oil and natural gas production, generate large-scale employment, and strengthen indigenous manufacturing under the Make in India and Aatmanirbhar Bharat
• The scheme is expected to attract significant investments across the exploration and production value chain, while fostering innovation, technological capability and long-term economic growth.
• The initiative builds upon key upstream sector reforms undertaken over the past decade, including opening nearly the entire offshore acreage for exploration, modernising the legislative and contractual framework, and strengthening the National Data Repository (NDR) for the petroleum sector.

India Sets Target to Capture 5% of Global Toy Market Share by 2032

• Union Minister for Commerce and Industry Piyush Goyal announced the formation of a task force for the toy industry to identify key interventions and strengthen India’s toy manufacturing ecosystem with the aim of achieving a 5% share of the global toy market by 2032.
• The announcement was made during the stakeholder meeting “Team Up for Toys: Driving SCALE, Innovation and Exports” organised by the Department for Promotion of Industry and Internal Trade (DPIIT) at Vanijya Bhawan, New Delhi.
• The task force will focus on six major areas:
  • Integration of Indian toy manufacturers with global value chains
  • Strengthening manufacturing capabilities
  • Resolving value chain bottlenecks
  • Creating skilled workforce and employment opportunities
  • Promoting design and innovation
  • Improving ease of doing business
• The event also marked the launch of the Toy Sector Playbook, a roadmap developed to improve the competitiveness of India’s toy sector by guiding manufacturers, startups, Micro, Small and Medium Enterprises (MSMEs), investors and entrepreneurs.
• The Toy Sector Playbook provides guidance on:
  • Manufacturing ecosystem development
  • Value chain strengthening
  • Quality standards and compliance
  • Skill development
  • Product innovation
  • Intellectual Property Rights (IPR)
  • Export opportunities
• The government highlighted initiatives such as mandatory Bureau of Indian Standards (BIS) certification, development of toy clusters and support for MSMEs and startups as key measures contributing to the growth of the toy sector.
• India’s toy ecosystem has expanded significantly and currently includes:
  • More than 21,000 Micro, Small and Medium Enterprises (MSMEs)
  • Over 770 DPIIT-recognised toy startups
  • Nearly 50 toy clusters
  • More than 1,800 BIS licensees
• The Steering Committee for Advancing Local Value Add and Employment (SCALE) identified the toy industry as one of the priority sectors due to its potential for value addition, employment generation and export growth.
• The initiative aims to transform India into a global hub for toy design, manufacturing and exports by promoting:
  • Innovation
  • Design excellence
  • Sustainability
  • Local manufacturing
  • Integration with global toy value chains
• The government emphasised the vision that future toys should not only be “Made in India” but also “Designed in India, innovated in India and Branded in India” for global recognition.

About Department for Promotion of Industry and Internal Trade (DPIIT)

• Established: 1995 (renamed as DPIIT in 2019)
• Ministry: Ministry of Commerce and Industry
• Headquarters: New Delhi

RECENT NEWS

• Union Commerce and Industry Minister Piyush Goyal launched the BHAVYA Portal in New Delhi on June 8, 2026, to implement the Bharat Audyogik Vikas Yojana (BHAVYA). This ₹33,660-crore initiative targets 100 world-class, plug-and-play industrial parks across India over a six-year period

About Ministry of Commerce and Industry:

• Cabinet Minister: Piyush Goyal
• Constituency: Mumbai North, Maharashtra
• Ministers of State (MoS): Jitin Prasada

India Allows Anhydrous Ammonia as Fertiliser to Reduce Dependence on Urea Imports

• The Union Ministry of Agriculture and Farmers Welfare has allowed the use of Anhydrous Ammonia as a fertiliser for agricultural purposes, containing 82% Nitrogen (N), compared to 46% Nitrogen in conventional urea.
• The approval was issued through a notification dated 23 July 2026 under Clause 20A of the Fertiliser (Inorganic, Organic or Mixed) (Control) Order, 1985, allowing the manufacturing of Anhydrous Ammonia fertiliser for a period of three years from the date of notification.
• With this approval, India could become the fourth country globally after the United States, Canada and Australia to use ammonia directly in farming.
• Unlike conventional urea, anhydrous ammonia needs to be injected directly into the soil, requiring specialised infrastructure, application techniques and safety measures due to the risk of ammonia gas leakage.
• The move comes amid rising demand and limited availability of urea in India. The country currently imports around 100 lakh tonnes of urea and produces around 300 lakh tonnes domestically, with much of domestic production dependent on imported Liquefied Natural Gas (LNG).
• Several urea plants generate 2,000–6,000 tonnes of surplus ammonia annually due to production limitations, which can potentially be utilised for agricultural applications.
• Indian Council of Agricultural Research (ICAR) has been conducting trials on the use of anhydrous ammonia, aqueous ammonia and green ammonia as alternatives to conventional urea.
• Field trials conducted during Rabi 2026 season for evaluating green ammonia application in direct-seeded rice showed improved biomass and greenness in some cases compared with normal urea. However, challenges related to uniform ammonia application and standardisation of injection methods remain.
• Experts have suggested further trials in crops such as rice and maize to determine the ideal application timing and methods.
• The adoption of ammonia-based fertilisers is also linked with the development of Green Ammonia A 150 Tonnes Per Day (TPD) Green Urea plant at Pudimadaka, Andhra Pradesh is being developed by NETRA (NTPC Energy Technology Research Alliance), the Research and Development (R&D) arm of National Thermal Power Corporation Limited (NTPC).
• The Green Urea project integrates Carbon Capture and Utilisation (CCUS) technology with water electrolysis. Green urea production requires captured Carbon Dioxide (CO₂) as a feedstock from industries such as thermal power, cement and steel.
• A world-scale urea plant with an annual capacity of 7 lakh tonnes requires nearly 10 lakh tonnes of CO₂ annually, highlighting the importance of carbon capture technology in sustainable fertiliser production.

About Indian Council of Agricultural Research (ICAR)

• Established: 1929
• Headquarters: New Delhi
• Ministry: Ministry of Agriculture and Farmers Welfare

About Ministry of Agriculture and Farmers Welfare:

• Cabinet Minister: Shivraj Singh Chouhan
• Constituency: Vidisha, Madhya Pradesh
• Ministers of State (MoS): Ram Nath Thakur, Bhagirath Choudhary

Zoological Survey of India Completes First Comprehensive Catalogue of Indian Lepidoptera

• The Zoological Survey of India (ZSI), under the Ministry of Environment, Forest and Climate Change (MoEFCC), completed the first comprehensive Catalogue of Lepidoptera (Butterflies and Moths) of India, marking a historic milestone in India's biodiversity conservation and taxonomic research.
• The project was led by Navneet Singh and Dr. Rahul Joshi after more than 12 years of field surveys, museum curation, and scientific verification. The final catalogue volume was published in the international scientific journal Zootaxa.
• The catalogue bridges over a century-old taxonomic gap and makes India one of the few megadiverse countries with a fully updated and authoritative inventory of its butterfly and moth species.
• The project comprises 22 catalogue volumes, documenting 13,703 species of butterflies and moths belonging to 3,705 genera, 240 subfamilies, 102 families, and 31 superfamilies. These species account for 25% of the world's known Lepidoptera diversity.
• The final publication catalogued the remaining 1,689 species, resolving several long-pending taxonomic ambiguities across multiple families.
• The catalogue also highlighted India's importance as a global hotspot for the Geometroidea moth superfamily, with 2,205 species across 479 genera, 13 subfamilies, and 4 families, representing 80% of the world's known Geometroidea species.
• Among the Geometroidea families, Geometridae is the largest with 2,100 species, followed by Uraniidae (95 species), Epicopeiidae (9 species), and Pseudobistonidae (1 species).
• The catalogue will serve as a national reference for biodiversity conservation, ecological monitoring, climate change studies, forestry management, agricultural research, and policy formulation.

About Zoological Survey of India (ZSI)

• The Zoological Survey of India (ZSI) is the premier taxonomic research organisation of India under the Ministry of Environment, Forest and Climate Change (MoEFCC).
• Established: 1916
• Headquarters: Kolkata, West Bengal
• Director: Dr. Dhriti Banerjee

CURRENT AFFAIRS: MOUS AND AGREEMENT

IndiaAI and Ministry of AYUSH Sign Memorandum of Understanding to Promote Artificial Intelligence in Traditional Medicine

• IndiaAI, under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) with the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy) to accelerate the adoption of Artificial Intelligence (AI) across India's traditional medicine ecosystem.
• The collaboration aims to strengthen Artificial Intelligence research, innovation, and evidence-based healthcare by integrating eligible AYUSH health research artefacts with AIKosh, India's sovereign Artificial Intelligence repository.
• The Memorandum of Understanding (MoU) was signed by Sudeep Srivastava, Chief Operating Officer, IndiaAI Mission & Joint Secretary, Ministry of Electronics and Information Technology (MeitY), and Kavita Jain, Joint Secretary & Chief Vigilance Officer, Ministry of AYUSH.
• Under the agreement, the Ministry of AYUSH will contribute anonymised health research datasets, metadata, Artificial Intelligence models, toolkits, and relevant use cases to AIKosh, enabling researchers, startups, academic institutions, and innovators to develop Artificial Intelligence-based healthcare solutions while complying with data-sharing policies.
• The collaboration will also enable stakeholders from the AYUSH ecosystem to access the IndiaAI Compute ecosystem, supporting advanced research in areas such as medicinal plants, drug administration, knowledge management, capacity building, and scalable healthcare solutions.
• The Memorandum of Understanding (MoU) will remain valid for two years, with a provision for automatic renewal by mutual agreement, and does not involve any financial commitment for either ministry.

RECENT NEWS

• The Ministry of Electronics and Information Technology (MeitY), along with the Indian Computer Emergency Response Team (CERT-In), the Computer Security Incident Response Team in Finance (CSIRT-Fin) and SISA, released the second edition of the Digital Threat Report 2025–26for the Banking, Financial Services and Insurance (BFSI) and payments ecosystem.

CURRENT AFFAIRS: RANKING AND INDEX

India Improves Ranking in Market Distortions Performance Index by 25 Places

• India has improved its global ranking by 25 places, moving from 82nd position in 2010 to 57th position in 2023 in the Market Distortions Performance Index (MDPI), according to the report “India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress” released by the Competere Foundation.
• The report assesses India’s reform progress between 2010 and 2023 and highlights that the improvement was driven by structural reforms, pro-competitive policies, reduction in market distortions and strengthening of competitiveness.
• The report was launched during the discussion on “India’s Reform Trajectory, Market Distortions and the Next Frontier for Growth and Competitiveness”, organised by the Centre for Trade and Investment Law (CTIL), Indian Institute of Foreign Trade (IIFT), New Delhi in collaboration with the Competere Foundation for Trade and Competition Policy at the India Habitat Centre, New Delhi.
• The Market Distortions Performance Index evaluates a country’s performance across three major pillars:
  • Protection of Property Rights
  • Domestic Competition
  • International Competition
• The report highlighted key reforms that contributed to India's progress, including:
  • Goods and Services Tax (GST) implementation
  • Insolvency and Bankruptcy Code (IBC) reforms
  • Improvement in the regulatory environment
  • Modernisation of trade facilitation systems
• The report also examined developments in areas such as competition policy, investment conditions, digital markets and external regulatory barriers affecting India's participation in global trade.
• The report recommended adopting an evidence-based and outcome-oriented approach to competition policy, reviewing sector-specific investment restrictions based on consumer welfare outcomes and strengthening cooperation with global trading partners.
• The event brought together representatives from the legal, industry, academic and policy sectors to discuss India's reform journey, competitiveness, productivity and integration with the global economy.

CURRENT AFFAIRS : DEFENCE NEWS

Union Minister Rajnath Singh Launches India’s First Dedicated Military Medicine Department at Lucknow Command Hospital

• Union Defence Minister Rajnath Singh virtually inaugurated the Department of Military Medicine at the Command Hospital (Central Command), Lucknow, Uttar Pradesh (UP).
• The newly launched Department of Military Medicine is India’s first dedicated academic and operational department focused exclusively on military medicine.
• The facility has been established under the Directorate General of Medical Services (DGMS) of the Indian Army (IA) to strengthen Armed Forces Medical Services (AFMS)
• The primary aim of the department is to enhance combat medical readiness, promote research and development, and develop indigenous military medical doctrines.
• The department will be developed in phases, with the initial phase focusing on academic programmes, followed by the establishment of specialised Centres of Excellence (CoEs).
• The proposed Centres of Excellence (CoEs) will focus on Humanitarian Assistance and Disaster Relief (HADR) and Chemical, Biological, Radiological, Nuclear and High-yield Explosives (CBRNE) defence.
• The Department of Military Medicine will focus on key areas including military trauma, combat psychiatry, operational medicine, military medical logistics, CBRNE response, emergency medicine, disaster medicine, and HADR operations.
• The department will offer Postgraduate (PG) programmes in Military Studies, promoting advanced education and research in defence and strategic affairs.
• The facility will serve as the principal academic, research, and doctrinal hub for the Armed Forces Medical Services (AFMS).
• The department will provide structured education and training in military medicine, operational medicine, combat medicine, combat surgery, and trauma care.
• Rajnath Singh described the Department of Military Medicine as a symbol of a revolutionary shift in India’s military mindset and envisioned it as the world’s best “Battlefield Medicine Research Centre”.
• The department will act as a centre for research and development to prepare India against emerging threats, including those related to Weapons of Mass Destruction (WMDs) and advanced technologies.

Cochin Shipyard Launches Seventh Mahe-Class Anti-Submarine Warfare Craft ‘Machilipatnam’ for Indian Navy

• Cochin Shipyard Limited (CSL) launched Machilipatnam (Yard BY 529), the seventh of eight Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), for the Indian Navy (IN).
• The launch ceremony was held at Cochin Shipyard, Kochi, Kerala, and the vessel was launched by Goolrukh Anand in the presence of Vice Admiral Atul Anand, Additional Secretary, Department of Military Affairs (DMA).
• Machilipatnam (Yard BY 529) is an indigenously constructed ASW-SWC, reflecting India's growing capability in warship design and shipbuilding.
• The vessel is the seventh ship in the series of eight Mahe-class Anti-Submarine Warfare Shallow Water Craft being built by Cochin Shipyard Limited (CSL) for the Indian Navy.
• The ship is named after the historic port city of Machilipatnam located in Krishna district, Andhra Pradesh (AP), recognising its rich maritime heritage and centuries-old role as a major trading hub on India's eastern coastline.
• Machilipatnam has been designed and constructed by CSL, Kochi, Kerala, with more than 80% indigenous content, supporting the vision of Aatmanirbhar Bharat (Self-Reliant India).
• The vessel is equipped for Underwater Surveillance, Anti-Submarine Warfare (ASW) operations, and Low Intensity Maritime Operations (LIMO) to strengthen India's maritime security.
• The ship also possesses Mine Warfare capability, enhancing the Indian Navy's coastal defence and maritime domain awareness.

Indian Navy Receives Indigenous Diving Support Vessel ‘Nipun’ from Hindustan Shipyard Limited

• The Indian Navy received the second Indigenous Diving Support Vessel (DSV) ‘Nipun’ from Hindustan Shipyard Limited (HSL) on 30 July 2026 at Visakhapatnam, Andhra Pradesh.
• Nipun is the second Diving Support Vessel (DSV) of its class after INS Nistar, built to enhance the Indian Navy’s capabilities in deep-sea diving operations and underwater rescue missions.
• The vessel has been designed and constructed according to the Classification Rules of the Indian Register of Shipping (IRS).

Key Highlights :

• The name “Nipun” is derived from Sanskrit, meaning “one who is adept, capable, and well-versed in a particular discipline”.
• Nipun is a highly specialised naval platform capable of conducting deep-sea dive operations, underwater salvage operations, and rescue missions at sea.
• The vessel is equipped with state-of-the-art diving equipment and has the capability to perform Deep Sea Saturation Diving Operations.
• A side diving stage has been installed on the vessel to support specialised diving operations in deep waters.
• The vessel is fitted with Remotely Operated Vehicles (ROVs) that enhance its operational capabilities by enabling diver monitoring and underwater salvage operations.
• Nipun will serve as the Mother Ship for the Deep Submergence Rescue Vessel (DSRV), helping in the evacuation of personnel during submarine emergencies.
• The vessel is equipped with advanced systems including deep-sea saturation diving systems, Remotely Operated Vehicles (ROVs), and dynamic positioning systems for maintaining stability during underwater operations.
• Nipun has a length of 118 metres and a displacement of more than 8,560 tonnes, making it a major strategic naval platform.
• A Diving Support Vessel (DSV) is a specialised naval ship designed for deep-sea diving, underwater salvage, and maritime rescue operations.
• The delivery of Nipun strengthens India’s capability in the niche domain of Deep Sea Dive Operations and submarine rescue support.
• The vessel represents India’s commitment towards Aatmanirbhar Bharat with around 75% indigenous content, promoting self-reliance in defence shipbuilding.
• Hindustan Shipyard Limited (HSL), based in Visakhapatnam, is the shipbuilder of Nipun.

About Hindustan Shipyard Limited (HSL) :

• Founded : 21 June 1941
• Headquarters : Visakhapatnam, Andhra Pradesh, India

Indian Army Chief Launches Indigenous Xtreme Weather Grade Diesel for Extreme Cold Operations

• General Dhiraj Seth, Chief of the Army Staff (COAS), launched the indigenously developed Xtreme Weather Grade (XWG) Diesel in New Delhi on 31 July 2026.
• The XWG Diesel has been developed jointly by the Indian Army and Oil Marketing Companies (OMCs) to improve the mobility, safety, and operational availability of combat and logistics vehicles in extreme climatic conditions.
• The specialised fuel is designed for vehicles operating in high-altitude areas, snow-bound regions, and severe winter conditions, supporting the Indian Army’s operational readiness.
• Xtreme Weather Grade (XWG) Diesel remains effective at temperatures as low as minus 42 degrees Celsius, overcoming the limitations of conventional diesel in extreme cold conditions.
• Conventional diesel can thicken and clog fuel filters at very low temperatures, affecting the performance and movement of vehicles deployed in cold and high-altitude regions.
• XWG Diesel addresses this challenge through a specialised fuel formulation suitable for extreme weather operations and improves mission reliability in cold terrain.
• The fuel is compliant with BS-VI emission standards and IS 1460:2025 specifications, ensuring environmental and technical standards.
• The newly developed fuel can be used in the existing Indian Army vehicle fleet without requiring any engine modification or re-homologation.
• The development of XWG Diesel represents a significant step towards Atmanirbhar Bharat by promoting indigenous defence-related technology and reducing dependence on specialised fuel imports.
• Bharat Petroleum Corporation Limited (BPCL) has established the supply chain for XWG Diesel from its Bina Refinery to strategic storage facilities at Bathinda.

Raksha Rajya Mantri Sanjay Seth Chairs Indian Air Force–Society of Indian Defence Manufacturers ‘SANKALP’ Seminar to Promote Defence Indigenisation

• Raksha Rajya Mantri (RRM) Sanjay Seth chaired a seminar on indigenisation titled ‘SANKALP’ on 30 July 2026 in New Delhi.
• The SANKALP seminar was jointly organised by the Indian Air Force (IAF) and the Society of Indian Defence Manufacturers (SIDM).
• SANKALP stands for Self-reliance, Atmanirbhar Bharat, Native Development, and Knowledge Linked Partnership.
• The objective of SANKALP is to promote defence indigenisation by creating a stronger defence ecosystem driven by innovation, indigenous development, and technology advancement.
• The seminar provided a platform for stakeholders to exchange ideas on Indigenous Maintenance, Repair and Overhaul (MRO), Component Manufacturing, Certification, Technology Absorption, and future Aerospace Requirements.
• During the event, Raksha Rajya Mantri Sanjay Seth launched the book titled “SANKALP 2026: Problem Statements of Indian Air Force”.
• The book launch was attended by Air Chief Marshal AP Singh, President of SIDM Arun T. Ramchandani, senior IAF officers, and industry leaders.
• Air Marshal Sanjay Ghuratia, Air Officer-in-Charge, Maintenance, delivered the inaugural address at the seminar.
• The event focused on Indian Air Force indigenisation priorities, sustainment requirements, and technological advancements in the aerospace sector.
• Representatives from the Ministry of Defence (MoD), Defence Forces, Centre for Military Air Worthiness and Certification (CEMILAC), Director General of Aeronautical Quality Assurance (DGAQA), SIDM, industry, and academia participated in the seminar.
• Industry partners showcased indigenous aerospace capabilities and defence technologies developed within India.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Insurance Regulatory and Development Authority of India Clears Patanjali Ayurved and DS Group’s Magma General Insurance Acquisition, Grants Licence to ProTec General Insurance

• The Insurance Regulatory and Development Authority of India (IRDAI) approved the acquisition of Magma General Insurance by Patanjali Ayurved and DS Group from Sanoti Properties (owned by Adar Poonawalla) for ₹4,500 crore.

Key Highlights :

• Under the Share Purchase Agreement (SPA), Patanjali Ayurved will acquire a 56% stake in Magma General Insurance, while DS Group will acquire a 24.50% stake in the insurance company.
• The approval for the acquisition was granted under Section 6A of the Insurance Act, 1938, along with the provisions of IRDAI Regulations, 2024.
• The approval granted by IRDAI will remain valid for three months from the date of communication issued by the regulator.
• IRDAI also approved the licence for ProTec General Insurance Limited, a joint venture between M Pallonji Group and True North’s Divya Sehgal, to undertake general insurance business.
• The approval of ProTec General Insurance marked the fourth insurance licence approval by IRDAI in calendar year 2026.
• Earlier in 2026, IRDAI granted insurance licences to Kiwi General Insurance, Prudential HCL Health Insurance, and Allianz Jio Reinsurance.
• The new insurance licences highlight the growing investment interest in India's insurance sector and the impact of reforms under the Sabka Bima Sabki Raksha (SBSR) Act.
• Following the amendment allowing 100% Foreign Direct Investment (FDI) in the insurance sector, insurers have increased foreign ownership beyond the earlier 74% foreign investment cap.
• IRDAI approved several regulatory reforms to provide insurers with greater operational and financial flexibility, including liberalised investment norms, easier capital infusion, restructuring, share transfers, and amalgamations.
• The regulator strengthened actuarial oversight and financial governance measures to improve transparency and stability in the insurance sector.
• IRDAI operationalised the Policyholders' Education and Protection Fund (PEPF) to promote insurance awareness, improve grievance redressal, enhance services through technology, and facilitate recovery of unclaimed insurance amounts.
• IRDAI mandated the tagging of authorised salespersons to every insurance proposal and policy to improve accountability, traceability, and regulatory oversight in insurance distribution.
• IRDAI replaced the periodic renewal of intermediary licences with perpetual registration supported by an annual fee regime to reduce compliance burden and improve governance.
• IRDAI approved the Manner and Procedure for Imposition of Penalties Regulations, 2026, establishing a framework for penalties under the Insurance Act, 1938 and the IRDA Act, 1999.

About IRDAI:

• Headquarters (HQ): Hyderabad, Telangana, India
• Chairperson: Ajay Seth
• Founded: 1999 

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Prevention of Insults to National Honour (Amendment) Bill, 2026 Seeks to Extend Protection to Vande Mataram Under Section 3

• The Prevention of Insults to National Honour (Amendment) Bill, 2026 amends Section 3 of the Prevention of Insults to National Honour Act, 1971.
• The 2026 Amendment Bill extends the same legal protection given to the National Anthem (Jana Gana Mana) to the National Song (Vande Mataram).
• The amendment makes it a criminal offence to intentionally prevent the singing of Vande Mataram or to cause disturbance to an assembly engaged in its singing.

Key Highlights :

• The Prevention of Insults to National Honour Act, 1971 originally provided legal protection to the Indian National Flag, Constitution of India, and National Anthem (Jana Gana Mana).
• The 2026 Bill proposes to replace the existing Section 3 to include both the National Anthem (Jana Gana Mana) and the National Song (Vande Mataram) under the same legal protection.
• Under the amended Section 3, a person will be punished if they intentionally prevent the singing of the National Anthem or National Song or create disturbance during such singing.
• The punishment under the amended law remains unchanged, with imprisonment up to three years, or fine, or both.
• The Section 3A provision, introduced through the 2003 amendment, continues to provide enhanced punishment for repeat offenders with a minimum one-year imprisonment for second or subsequent convictions.
• Repeat offenders who intentionally disrupt the singing of Vande Mataram will also face the mandatory minimum one-year imprisonment penalty.
• The Statement of Objects and Reasons of the Bill refers to the Constituent Assembly meeting held on 24 January 1950, where Rajendra Prasad highlighted the historic importance of Vande Mataram in India’s freedom struggle.
• Rajendra Prasad, the first President of India and President of the Constituent Assembly, stated that Vande Mataram should be honoured equally with Jana Gana Mana and accorded equal status.
• The amendment was proposed to address the gap that existed because there was no specific legal provision protecting Vande Mataram similar to the protection provided to the National Anthem.
• Vande Mataram, meaning “Mother, I Bow to Thee”, was composed by Bankim Chandra Chatterjee.
• Vande Mataram was first published in the literary journal Bangadarshan on 7 November 1875 and was later included in the novel Anandamath (1882).
• Rabindranath Tagore set Vande Mataram to music and first sang it at the 1896 session of the Indian National Congress in Calcutta.
• The song became a powerful symbol of India’s freedom struggle and was first used as a political slogan on 7 August 1905 during the Swadeshi Movement.
• The Prevention of Insults to National Honour Act, 1971 was enacted on 23 December 1971 and extends to the whole of India.
• Section 2 of the 1971 Act deals with insults to the National Flag and Constitution of India, including burning, mutilation, defacement, destruction, or showing disrespect in a public place.
• Lawful criticism of the Constitution, National Flag, or government measures made for securing lawful amendments does not constitute an offence under Section 2.
• Section 3 of the 1971 Act deals with the National Anthem (Jana Gana Mana) and penalises anyone who intentionally prevents its singing or disturbs an assembly engaged in singing it.
• Section 3A, added in 2003, provides enhanced punishment for repeat offences under Sections 2 and 3 with a minimum imprisonment of one year.

CURRENT AFAFIRS: SPORTS NEWS

Lovepreet Singh Wins Silver in Men's +110 kg Weightlifting at Commonwealth Games 2026

• India's Lovepreet Singh won the Silver Medal in the Men's +110 kg Weightlifting event at the Commonwealth Games 2026 held in Glasgow, Scotland.
• He lifted a total of 388 kg (176 kg in Snatch + 212 kg in Clean and Jerk) and missed the Gold Medal by just 1 kg.
• David Liti (New Zealand) won the Gold Medal with a Commonwealth Games record total of 389 kg, while Andrew Griffiths (England) secured the Bronze Medal with 356 kg.
• Lovepreet Singh created a Commonwealth Games record in the Snatch by lifting 176 kg, but failed to clear 217 kg in his final Clean and Jerk
• In the Women's +86 kg Weightlifting event, Martina Devi Maibam finished 5th with a total lift of 245 kg (105 kg Snatch + 140 kg Clean and Jerk).
• India concluded its Weightlifting campaign at the Commonwealth Games 2026 with 8 medals (1 Gold, 6 Silver and 1 Bronze).
• With Lovepreet Singh's medal, India's overall tally at the Commonwealth Games 2026 reached 17 medals (3 Gold, 11 Silver and 3 Bronze).

India’s medallists from CWG 2026

CURRENT AFFAIRS : OBITUARIES

Academy Award-Winning Irish Singer-Songwriter Glen Hansard Passed away at 56

• Oscar-winning Irish singer-songwriter, musician, and actor,Glen Hansard passed away at the age of 56 in Lucan, near Dublin, Ireland.
• He was widely regarded as one of Ireland's finest contemporary musicians, with contributions spanning music, cinema, and humanitarian causes.

About Glen Hansard :

• He was born on 21 April 1970 in Ballymun, Dublin, Ireland, and began his musical journey as a street busker on the streets of Dublin after leaving school at an early age.
• In 1990, he founded the Irish rock band The Frames, serving as its lead vocalist, guitarist, and principal songwriter, helping the band become one of Ireland's most influential independent rock bands.
• Along with leading The Frames, he formed the folk-rock duo The Swell Season with Czech singer-songwriter Markéta Irglová, earning worldwide recognition.
• He built a successful solo music career with acclaimed albums including Rhythm and Repose (2012), Didn't He Ramble (2015), Between Two Shores (2018), This Wild Willing (2019), and All That Was East Is West of Me Now (2023).
• Before achieving international fame, he made his acting debut as Outspan Foster in the acclaimed 1991 film The Commitments.
• He gained global recognition through the 2007 Irish musical film Once, which became a landmark in his music and acting career.
• In 2008, Glen Hansard and Markéta Irglová won the 80th Academy Award (Oscar) for Best Original Song for "Falling Slowly", featured in the 2007 film Once.

CURRENT AFFAIRS: IMPORTANT DAYS

World Ranger Day 2026 Observed on 31 July

• World Ranger Day is observed every year on 31 July to honour the dedication and sacrifices of Rangers who protect the world’s natural heritage, wildlife and cultural resources.
• The theme of World Ranger Day 2026 is “Rangers: Guardians of a Changing Planet”.
• The day commemorates Rangers who have been injured or lost their lives in the line of duty while protecting forests, national parks, wildlife habitats and other natural treasures.
• A Ranger generally refers to a Forest Ranger or Park Ranger responsible for conservation activities, biodiversity protection, wildlife monitoring and management of protected areas.
• The first World Ranger Day was observed in 2007, marking the 15th anniversary of the establishment of the International Ranger Federation (IRF).
• The International Ranger Federation (IRF) was established in 1992 through a joint agreement between:
  • Scottish Countryside Rangers Association (SCRA)
  • Association of National Park Rangers (ANPR), United States
  • Countryside Management Association (CMA), United Kingdom
• Rangers play a crucial role as frontline protectors of the planet’s biodiversity by preventing illegal wildlife activities, conserving ecosystems and supporting environmental protection efforts.

Daily CA One- Liner: August 1

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) for the development of Floating Solar Photovoltaic (FSPV) Projects with Energy Storage Systems (ESS), with a total outlay of ₹5,070 crore
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme for the period 2026–27 to 2030–31 with a financial outlay of ₹3.15 lakh crore
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the expanded Khelo India Scheme and the Enhanced Assistance to National Sports Federations (ANSFs) with a combined outlay of ₹36,441 crore for the period 2026–27 to 2030–31
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved 'Samudra Manthan' – the National Offshore Exploration Scheme, a Central Sector Scheme of the Ministry of Petroleum and Natural Gas, with an approved outlay of ₹84,084 crore for implementation up to Financial Year 2030–31
• Union Minister for Commerce and Industry Piyush Goyal announced the formation of a task force for the toy industry to identify key interventions and strengthen India’s toy manufacturing ecosystem with the aim of achieving a 5% share of the global toy market by 2032
• The Union Ministry of Agriculture and Farmers Welfare has allowed the use of Anhydrous Ammonia as a fertiliser for agricultural purposes, containing 82% Nitrogen (N), compared to 46% Nitrogen in conventional urea
• The Zoological Survey of India (ZSI), under the Ministry of Environment, Forest and Climate Change (MoEFCC), completed the first comprehensive Catalogue of Lepidoptera (Butterflies and Moths) of India, marking a historic milestone in India's biodiversity conservation and taxonomic research
• IndiaAI, under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) with the Ministry of AYUSH (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homeopathy) to accelerate the adoption of Artificial Intelligence (AI) across India's traditional medicine ecosystem
• India has improved its global ranking by 25 places, moving from 82nd position in 2010 to 57th position in 2023 in the Market Distortions Performance Index (MDPI), according to the report “India’s Next Growth Frontier: Reducing Anti-Competitive Market Distortions to Build on India’s 2010–2023 Reform Progress” released by the Competere Foundation
• India's Lovepreet Singh won the Silver Medal in the Men's +110 kg Weightlifting event at the Commonwealth Games 2026 held in Glasgow, Scotland
• World Ranger Day is observed every year on 31 July to honour the dedication and sacrifices of Rangers who protect the world’s natural heritage, wildlife and cultural resources.
• The Maldives Monetary Authority (MMA) announced the successful go-live of the integration between Maldives Instant Payment System “Favara” and India’s Unified Payments Interface (UPI) on 30 July 2026.
• For the first time in five years, Public Sector Banks (PSBs) in India reported zero bank locker theft cases in FY 2025–26.
• The National Commodity and Derivatives Exchange Limited (NCDEX) launched “NCDEX Nidhi”, a new Mutual Fund (MF) transaction platform aimed at increasing MF penetration in rural and semi-rural India.
• SBI Cards and Payment Services Limited (SBI Card), in partnership with Google Pay, launched a new co-branded credit card named “Google Pay Flex SBI Card” to make daily spending more rewarding for users.
• The Department of Financial Services (DFS), Ministry of Finance launched India’s first sovereign-backed Protection & Indemnity (P&I) insurance product under the Bharat Maritime Insurance Pool (BMIP) in New Delhi.
• Union Defence Minister Rajnath Singh virtually inaugurated the Department of Military Medicine at the Command Hospital (Central Command), Lucknow, Uttar Pradesh (UP).
• Cochin Shipyard Limited (CSL) launched Machilipatnam (Yard BY 529), the seventh of eight Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), for the Indian Navy (IN).
• The Indian Navy received the second Indigenous Diving Support Vessel (DSV) ‘Nipun’ from Hindustan Shipyard Limited (HSL) on 30 July 2026 at Visakhapatnam, Andhra Pradesh.
• General Dhiraj Seth, Chief of the Army Staff (COAS), launched the indigenously developed Xtreme Weather Grade (XWG) Diesel in New Delhi on 31 July 2026.
• Raksha Rajya Mantri (RRM) Sanjay Seth chaired a seminar on indigenisation titled ‘SANKALP’ on 30 July 2026 in New Delhi.
• The Insurance Regulatory and Development Authority of India (IRDAI) approved the acquisition of Magma General Insurance by Patanjali Ayurved and DS Group from Sanoti Properties (owned by Adar Poonawalla) for ₹4,500 crore.
• The Prevention of Insults to National Honour (Amendment) Bill, 2026 amends Section 3 of the Prevention of Insults to National Honour Act, 1971.
• Oscar-winning Irish singer-songwriter, musician, and actor,Glen Hansard passed away at the age of 56 in Lucan, near Dublin, Ireland.