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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Postpones Basel III Disclosure Framework Implementation Until April 2027

• The Reserve Bank of India (RBI) has deferred the implementation of its revised Basel Pillar III Disclosure Framework by six months, with the new effective date fixed as 1 April 2027.
• The implementation was postponed after commercial banks and other stakeholders sought additional time to upgrade their information technology (IT) systems, internal reporting mechanisms, and validation processes.

Key Highlights :

• The revised Basel Pillar III Disclosure Framework will be applicable to Commercial Banks (CBs), Small Finance Banks (SFBs), and Payments Banks (PBs).
• Earlier, the RBI had proposed implementing the revised disclosure framework from the quarter ending 30 September 2026, but the timeline has now been extended to 1 April 2027.
• The RBI aligned the implementation of the revised disclosure framework with the Expected Credit Loss (ECL) Framework and the revised capital charge norms for credit risk under the Standardised Approach, both effective from 1 April 2027.
• Under the revised schedule, the first quarterly disclosures will be submitted for the quarter ending 30 June 2027.
• Half-yearly disclosures under the new framework will commence from the period ending 30 September 2027.
• Annual disclosures under the revised Basel Pillar III Framework will begin for the financial year ending 31 March 2028.
• The Basel III Framework is an internationally accepted banking regulatory framework aimed at improving transparency, risk management, and market discipline in the banking sector.
• The revised disclosure norms require banks to provide more granular and standardised disclosures on capital adequacy, leverage, liquidity, and risk exposure.
• Banks will be required to disclose key prudential indicators, including Common Equity Tier 1 (CET1) Capital, Total Capital, Risk-Weighted Assets (RWAs), Leverage Ratio, Liquidity Coverage Ratio (LCR), and Net Stable Funding Ratio (NSFR).
• Banks must also explain significant changes in these prudential metrics and disclose the factors responsible for such movements.
• The framework mandates both qualitative and quantitative disclosures regarding banks’ business activities, major risks, and risk identification, measurement, and management processes.
• Every bank will be required to maintain a dedicated Regulatory Disclosure Section on its official website for publishing Basel Pillar III disclosures.
• Banks must archive all Pillar III Disclosure Reports on their websites for a minimum period of 10 years, ensuring easier public access to historical regulatory information.

Insurance Regulatory and Development Authority of India Approves New Reforms to Implement Sabka Bima Sabki Raksha (SBSR) Act, 2025

• The Insurance Regulatory and Development Authority of India (IRDAI) approved a comprehensive reform package during its 137th Authority Meeting held on 28 July 2026 to modernise the insurance sector and strengthen policyholder protection.
• The reforms aim to improve insurance penetration, enhance governance, and support the implementation of the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Act, 2025.
• IRDAI operationalised the Policyholders' Education and Protection Fund (PEPF) under the IRDAI (Policyholders' Education and Protection Fund) Regulations, 2026.
• The PEPF will promote insurance awareness, strengthen grievance redressal mechanisms, support technology-enabled services, and help in tracing and settling unclaimed insurance amounts.
• IRDAI amended the Actuarial, Finance and Investment Functions of Insurers Regulations, 2026 to provide insurers greater flexibility in investment decisions, capital management, and strengthen actuarial oversight.
• IRDAI also amended the Registration, Capital Structure, Transfer of Shares and Amalgamation of Insurers Regulations, 2026 to simplify capital raising, corporate restructuring, share transfers, and mergers of insurers.
• To improve transparency and accountability in insurance distribution, IRDAI made it mandatory to tag authorised salespersons with every insurance proposal, policy, and certificate.
• IRDAI introduced perpetual registration for insurance intermediaries through an annual fee system, replacing the earlier system of periodic licence renewals.
• IRDAI granted a Certificate of Registration (CoR) to ProTec General Insurance Limited to start a general insurance business in India.
• ProTec General Insurance Limited became the fourth insurance entity licensed in 2026, including two general insurers, one health insurer, and one reinsurer.
• Under the Sabka Bima Sabki Raksha (SBSR) Act, 2025, the Government allowed 100% Foreign Direct Investment (FDI) in the insurance sector.
• After allowing 100% FDI in insurance, one life insurer and one general insurer have increased their foreign shareholding beyond the earlier 74% limit.

Recent News :

• In July 2026, The Insurance Regulatory and Development Authority of India (IRDAI) Chairman Ajay Seth announced that the Insurance Regulatory and Development Authority of India (IRDAI) has approved two new general insurance licences following the Government of India's decision to allow 100% Foreign Direct Investment (FDI) in the insurance sector.

About IRDAI:

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

Asian Development Bank Sanctions USD 1 Billion for India’s Urban Reform and Infrastructure Development Programme

• The Asian Development Bank (ADB) approved a USD 1 billion loan to support the Government of India’s (GoI) urban reform agenda and accelerate urban transformation across the country.
• The USD 1 billion Urban Transformation and Investment Programme aims to improve urban infrastructure, strengthen municipal governance, and enhance the delivery of essential public services.
• The programme will support the implementation of the Urban Challenge Fund (UCF) by strengthening urban institutions, improving integrated economic and spatial planning, and enhancing the financial capacity of Urban Local Bodies (ULBs).
• The initiative promotes resilient urban regeneration through transit-oriented development (TOD), improved public-space management, and digital governance systems.
• The programme aims to modernise urban governance by adopting digital systems that improve transparency, operational efficiency, and evidence-based decision-making.
• The initiative will expand access to commercial capital through municipal bonds and other market-based financing mechanisms to strengthen urban development.
• The ADB also approved USD 3 million in Technical Assistance (TA) to support the Ministry of Housing and Urban Affairs (MoHUA) in implementing the urban reform programme.
• According to the ADB, urbanisation is a major driver of India’s economic transformation, with cities generating nearly 70% of new jobs in the country.
• Indian cities currently contribute around 63% of India’s Gross Domestic Product (GDP), and this share is projected to increase to 75% by 2030.
• The programme seeks to address challenges faced by cities, including limited institutional capacity, financial constraints, and restricted access to market-based financing.
• The urban reform initiative is expected to improve the ability of Urban Local Bodies (ULBs) to manage rapid urbanisation and attract greater investment.
• Separately, the ADB also approved a USD 850 million loan to support reforms for the Government of India’s flagship Rooftop Solar Programme.
• The USD 850 million rooftop solar loan aims to accelerate the rollout of affordable rooftop solar systems, improve clean energy access, and enhance the energy resilience of Indian households.

Recent News :

• In July 2026, The Asian Development Bank (ADB) approved an USD 850 million loan to support the Government of India (GoI) in accelerating rooftop solar adoption under the Prime Minister Surya Ghar: Muft Bijli Yojana (PMSG-MBY).

About ADB :

• Formation : 19 December 1966
• Headquarters : Philippines
• President : Masato Kanda
• Members : 69 countries

State Bank of India Leads Debit Card Market with 25% Share, While HDFC Bank Tops Credit Card Segment in June 2026

• According to an analysis by 1Lattice based on Reserve Bank of India (RBI) data, State Bank of India (SBI) remained India’s largest debit card issuer with a 25% market share in June 2026.
• In the credit card market, HDFC Bank retained the top position with a 22% market share in June 2026.
• In the debit card segment, Bank of Baroda held an 8% market share, making it the second-largest debit card issuer after SBI.
• In the debit card market, Canara Bank, Union Bank of India, and HDFC Bank each held a 6% market share.
• Axis Bank accounted for a 5% market share in debit cards, while Bank of India and Punjab National Bank (PNB) held 4% each.
• ICICI Bank had around a 3% market share in the debit card segment.
• In the credit card market, SBI Card ranked as the second-largest credit card issuer with a 19% market share.
• ICICI Bank held the third-largest position in the credit card market with a 16% market share.
• In the credit card segment, Axis Bank accounted for 13% market share, followed by Kotak Mahindra Bank and RBL Bank with 4% each.
• Bank of Baroda held a 3% credit card market share, while IndusInd Bank accounted for 2% and American Express held 1%.
• Despite the rapid expansion of Unified Payments Interface (UPI) and other digital payment platforms, debit and credit cards continue to remain important payment instruments in India.
• Debit and credit cards are widely used for merchant transactions, online purchases, and high-value payments in India’s payment ecosystem.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Indian Railways Launches Online Excess Luggage Booking Facility for Reserved Passengers

• Indian Railways has introduced an online excess luggage booking facility for passengers travelling on confirmed reserved tickets, allowing them to declare and pay for excess personal luggage while booking tickets through the Indian Railway Catering and Tourism Corporation (IRCTC) platform.
• The facility became operational from 31 July 2026 following system development by the Centre for Railway Information Systems (CRIS) and directions from the Railway Board to all Zonal Railways.
• Earlier, passengers carrying luggage beyond the free allowance had to visit the parcel office at the railway station. The new system eliminates this requirement, making the process more convenient and transparent.
• During ticket booking, passengers can view class-wise free luggage limits, maximum permissible weight, applicable charges, restricted items, and penalty rules before declaring excess luggage.
• The facility is applicable only to personal luggage carried inside reserved coaches and is available only for confirmed reserved ticket holders.

Free Luggage Allowance

• AC First Class – 70 kg free (maximum 150 kg with payment).
• First Class & AC 2-Tier – 50 kg free (maximum 100 kg with payment).
• Sleeper Class – 40 kg free (maximum 80 kg with payment).
• Second Class – 35 kg free (maximum 70 kg with payment).
• AC 3-Tier, AC 3 Economy & AC Chair Car – Maximum permissible luggage is 40 kg.

Excess Luggage Charges

• Excess luggage is charged at 1.5 times the normal luggage rate.
• Minimum charge: ₹30.
• Charges are calculated in 10 kg slabs, with a minimum distance of 50 km considered for fare calculation.

About IRCTC

• Indian Railway Catering and Tourism Corporation (IRCTC) is a Miniratna Central Public Sector Enterprise (CPSE) under the Ministry of Railways.
• Established: 1999
• Headquarters: New Delhi

RECENT NEWS

• Indian Railway Catering and Tourism Corporation (IRCTC) has launched the ‘Bharat-Bhutan Mystic Mountain Tour’. This is the unique international rail-cum the road journey. This 14-day tour will begins from the New Delhi and it offers travelers the experience across the Northeast India and Bhutan. It

Prime Minister Narendra Modi Inaugurates Alluri Sitarama Raju International Airport at Bhogapuram, Andhra Pradesh

• Prime Minister Narendra Modi inaugurated the Alluri Sitarama Raju International Airport at Bhogapuram, Vizianagaram district, Andhra Pradesh, marking a major boost to aviation connectivity and infrastructure in North Andhra.
• The greenfield airport has been developed by GMR Group at an estimated cost of nearly ₹5,000 crore under the Public-Private Partnership (PPP) model using the Design, Build, Finance, Operate and Transfer (DBFOT) framework.
• Commercial flight operations from the airport will commence on 17 August 2026, making it India's second greenfield airport to become operational in 2026, after Noida International Airport (Jewar), Uttar Pradesh.
• In its first phase, the airport has the capacity to handle 6 million passengers annually, with a master plan to expand capacity to 40 million passengers per year in future.
• The integrated project covers 2,703.26 acres, including the airport (2,203.32 acres), a 500-acre Aviation Hub, and a 136.63-acre Aviation University and EduCity, along with commercial, residential and transport infrastructure.
• The airport is expected to boost industrial development, exports, tourism, employment generation, skill development, investment, and regional connectivity, supporting the growth of the Visakhapatnam Economic Region.

About Alluri Sitarama Raju

• Alluri Sitarama Raju was a freedom fighter from Andhra Pradesh who led the Rampa Rebellion (1922–1924) against British rule in the tribal regions of the Eastern Ghats.
• He is popularly known as "Manyam Veerudu" (Hero of the Forest) for mobilising tribal communities in the freedom movement.

About Andhra Pradesh:

• Chief Minister: Chandrababu Naidu
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Papikonda National Park, Sri Venkateswara National Park, Rajiv Gandhi (Rameswaram) National Park
• Wildlife Sanctuaries: Coringa, Kolleru, Krishna, Kambalakonda, Rollapadu Wildlife Sanctuaries

RECENT NEWS

• Andhra Pradesh state government has announced the first Mushroom Mission with the investment around the ₹13,000 crore. Announcement was led by the Chief Minister N Chandrababu Naidu and this initiative aims to transform the state into the India’s largest mushroom producer.

Gujarat's Pithora Painting Receives Geographical Indication (GI) Tag

• Pithora Painting, the traditional wall art of the Rathwa tribal community of Gujarat, has been granted the Geographical Indication (GI) Tag, strengthening the protection and promotion of India's tribal cultural heritage.
• The GI Tag ensures the authenticity of Pithora paintings, safeguards traditional knowledge from imitation, and improves market access and livelihood opportunities for tribal artisans.
• Traditionally, Pithora paintings are created on the main walls of houses during religious and cultural rituals and depict horses, deities, forests, animals, birds, and elements of nature, symbolising prosperity and spiritual beliefs.
• The paintings are mainly practised by the Rathwa, Bhil, Bhilala, and Nayaka tribal communities of Chhota Udepur district, Gujarat.
• The artwork is traditionally painted by Lakharas (folk artists) using natural colours prepared from leaves, flowers, minerals, and mahua.
• The GI recognition is expected to promote tribal handicrafts, cultural tourism, indigenous art preservation, and sustainable livelihoods, while encouraging younger generations to continue the traditional art form.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Dev Vrat
• Capital: Gandhinagar
• National Parks: Gir, Blackbuck, Gulf of Kutch (Marine), Vansda National Parks
• Wildlife Sanctuaries: Nal Sarovar Bird, Wild Ass, Kutch Desert, Barda, Purna Wildlife Sanctuaries

CURRENT AFFAIRS : INTERNATIONAL NEWS

Venezuela Begins Exit Process from Rome Statute to Leave International Criminal Court Membership

• The Government of Venezuela, under Interim President Delcy Eloína Rodríguez Gómez, formally notified the United Nations (UN) of its decision to withdraw from the Rome Statute, initiating the process to leave the International Criminal Court (ICC).
• Venezuela’s withdrawal has been initiated under Article 127 of the Rome Statute, which provides the legal procedure for a State Party to withdraw from the ICC.
• According to Article 127, the withdrawal will become effective one year after the date of notification submitted to the United Nations (UN).
• Venezuela’s withdrawal will not affect the International Criminal Court’s (ICC) ongoing investigation into alleged crimes against humanity committed in the country.
• Any ICC investigations or legal proceedings initiated before the withdrawal becomes effective will continue without interruption.
• Venezuela became a State Party to the Rome Statute in 2002, thereby accepting the jurisdiction of the International Criminal Court (ICC).
• The Rome Statute established the International Criminal Court (ICC) with jurisdiction over Genocide, Crimes against Humanity, War Crimes, and the Crime of Aggression.
• The UN Independent International Fact-Finding Mission (IIFFM) on Venezuela expressed concern that the withdrawal could weaken accountability, reduce victims’ access to justice, and undermine international human rights efforts.
• The Government of Venezuela argued that the International Criminal Court (ICC) disproportionately targets countries in Africa and Latin America.
• Venezuela also maintained that its domestic judicial system is capable of independently investigating and prosecuting alleged crimes without ICC intervention.

About Venezuela :

• President : Delcy Rodríguez
• Capital : Caracas
• Currency : Venezuelan bolívar

Saudi Arabia and 13 Nations Form Maritime Defence Coalition to Secure Strategic West Asian Waterways

• Saudi Arabia and 13 other countries announced the formation of a Multinational Maritime Defence Alliance to strengthen maritime security and protect global shipping routes amid rising regional tensions.
• The announcement was made after an international maritime security meeting hosted by Saudi Arabia in Riyadh, which was attended by chiefs of staff and representatives from 43 countries and the European Union (EU).
• The main objective of the Multinational Maritime Defence Alliance is to enhance maritime defence cooperation, protect freedom of navigation, and secure international trade routes and energy supply lines.
• The alliance will focus on safeguarding key maritime regions, including the Red Sea, Bab el-Mandeb Strait, and Gulf of Aden.
• The alliance aims to address growing challenges related to global maritime security, including threats to shipping, navigation, and international trade.
• The founding members of the Multinational Maritime Defence Alliance include Saudi Arabia, Kuwait, Bahrain, Qatar, Egypt, Jordan, Yemen, Nigeria, Sudan, Djibouti, Türkiye, Pakistan, Bangladesh, and Somalia.
• Saudi Arabia has been designated as the founding and leading state of the alliance and will serve as the permanent secretariat/headquarters.
• The Joint Maritime Operations Coordination Center, Joint Maritime Operations Center, and General Secretariat of the alliance will be based in Saudi Arabia.
• The alliance has been described as purely defensive in nature and does not target any state, alliance, or international organisation.
• Member countries have committed to conducting all activities in accordance with international law, respecting state sovereignty, and protecting freedom of navigation.

About Saudi Arabia :

• Crown Prince and Prime Minister : Mohammed bin Salman
• Capital : Riyadh
• Currency : Saudi riyal

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Varsha Ashok Aglawe Appointed as Geological Survey of India’s First Woman Director General in Its 176-Year History

• Varsha Ashok Aglawe assumed charge as the 54th Director General (DG) of the Geological Survey of India (GSI) on 31 July 2026.
• Varsha Ashok Aglawe became the first woman to head the Geological Survey of India (GSI) in its 176-year history.
• She succeeded Shri Asit Saha, who served as the Director General of GSI from 27 July 2024 to 31 July 2026.

About Smt. Varsha Ashok Aglawe :

• Varsha Ashok Aglawe is a distinguished geoscientist with more than three decades of professional experience in geology and geoscience.
• She joined the Geological Survey of India (GSI) in 1992 after serving with the Indian Bureau of Mines (IBM).
• Before becoming Director General, she served as Additional Director General & Head of Department, Eastern Region, at Kolkata, West Bengal.
• During her career, she held several important scientific and administrative positions in the Central, Northern, and Eastern Regions of GSI, as well as at its Central Headquarters.
• Varsha Ashok Aglawe is an expert in Palaeontology (study of fossils) and Palynology (study of pollen, spores, and microscopic organic particles).
• She made significant contributions to the study of Late Cretaceous–Palaeocene sediments, the K–T (Cretaceous–Tertiary) Boundary, and the Satpura–Gondwana Basins.
• She identified the Salbardi–Ghorpend area in Central India as a new dinosaur nesting site, an important contribution to India's palaeontological research.
• She participated in international collaborative palaeontological research with the University of Michigan Museum of Paleontology, USA.
• She represented the Geological Survey of India (GSI) as a member of the Indian delegation at PDAC 2023 (Prospectors & Developers Association of Canada) held in Toronto, Canada.
• She played a key role in establishing a state-of-the-art Palynology Laboratory at the GSI Northern Region Office, Lucknow, Uttar Pradesh.
• She also led several multidisciplinary geoscientific programmes across India, strengthening the institutional capabilities of GSI.
• On assuming office, she reaffirmed GSI's commitment to supporting the Government of India's priorities in critical mineral exploration and mineral security.

About Geological Survey of India (GSI) :

• The Geological Survey of India (GSI) was established in 1851, making it one of India's oldest scientific organisations.
• GSI functions under the Ministry of Mines and is India's premier organisation for geological mapping, mineral resource assessment, and geoscientific studies.
• Headquarters : Kolkata, West Bengal.

Air Marshal Sandeep Thareja Named as the Next Director General Armed Forces Medical Services

• The Government of India (GoI) appointed Air Marshal Sandeep Thareja, SM, VSM & Bar as the next Director General Armed Forces Medical Services (DGAFMS).
• Air Marshal Sandeep Thareja will assume charge as DGAFMS upon the retirement of the incumbent Surgeon Vice Admiral Arti Sarin, PVSM, AVSM, VSM on 31 August 2026.
• Before this appointment, Air Marshal Sandeep Thareja was serving as the Director General Medical Services (Air).
• The Director General Armed Forces Medical Services (DGAFMS) is the senior-most medical appointment in the Indian Armed Forces, responsible for coordinating medical services for the Army, Navy, and Air Force under the Ministry of Defence (MoD).

About Air Marshal Sandeep Thareja :

• Air Marshal Sandeep Thareja is an alumnus of the Armed Forces Medical College (AFMC), Pune, and was commissioned into the Armed Forces Medical Services (AFMS) in December 1986.
• He completed his MD in Medicine in 1997 and earned a DM in Gastroenterology from the All India Institute of Medical Sciences (AIIMS), New Delhi, in 2005.
• At AIIMS, New Delhi, he received the prestigious Best DM Student Award for outstanding academic performance.
• He is also an alumnus of the National Defence College (NDC) and secured an 'A' Grade in all military training courses.
• During his nearly four-decade-long career, he made significant contributions in the clinical, academic, operational, and administrative fields of the Armed Forces Medical Services (AFMS).
• He has held several important appointments, including:
• Senior Consultant (Medicine) at the Office of DGAFMS
• Commandant of Military Hospital Pathankot
• Commandant of Command Hospital Lucknow
• Director & Commandant of AFMC, Pune
• Director General Medical Services (Air)
• As Director General Medical Services (Air), he led several initiatives to strengthen operational medical preparedness of the Armed Forces.
• He played a key role in enhancing the medical preparedness for India’s Gaganyaan Human Spaceflight Mission.
• He also led the operationalisation of the BHISHM Cube, significantly improving rapid medical response capabilities for operational and humanitarian missions.
• Air Marshal Sandeep Thareja is a distinguished clinician, academician, and teacher, having guided numerous postgraduate and super-speciality students.
• He has authored more than 50 scientific research papers published in national and international medical journals.
• In recognition of his distinguished service, he has been awarded the Sena Medal (SM) and the Vishisht Seva Medal (VSM) twice (VSM & Bar).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

National Skill Development Corporation Partners with AVPL International to Set Up 350 Drone Technology Skill Centres Across India

• The National Skill Development Corporation (NSDC) and AVPL International entered into a strategic collaboration to establish 350 Advanced Skill Centres (ASCs) for Drone Technology across India over the next three years.
• The initiative aims to create a future-ready drone workforce and strengthen India’s capabilities in the drone technology sector.
• The Advanced Skill Centres (ASCs) will provide training in drone piloting, drone manufacturing and assembly, maintenance and repair, Geographic Information System (GIS), Artificial Intelligence (AI) applications, inspection, data analytics, and entrepreneurship.
• Under the collaboration, NSDC will co-invest in the programme, while AVPL International will manage labs, curriculum development, faculty training, internships, placements, and entrepreneurship support.
• The rollout of the Advanced Skill Centres will begin with 75 ASCs in the first year across private universities and engineering colleges.
• These centres will function as industry-operated Centres of Excellence (CoEs) for advanced drone technology training and innovation.
• The initiative is aligned with the National Education Policy (NEP) 2020, promoting experiential learning, industry-academia collaboration, and skill-based credits under the National Credit Framework (NCrF).
• The programme will support the growth of drone startups, encourage research and innovation, and improve employment opportunities in emerging technologies.
• The initiative contributes to the national missions of Skill India, Digital India, Atmanirbhar Bharat, and Viksit Bharat 2047.
• The collaboration will help develop skilled professionals for applications of drones in sectors such as agriculture, infrastructure inspection, defence, logistics, mapping, and data services.

About NSDC :

• National Skill Development Corporation (NSDC) was established in 2008 under the Ministry of Skill Development and Entrepreneurship (MSDE).
• NSDC works to promote private sector participation in skill development and enhance India’s skilled workforce.

Indian National Space Promotion and Authorisation Centre Issues New Norms for Planned Re-entry of Space Objects

• The Indian National Space Promotion and Authorisation Centre (IN-SPACe) introduced new guidelines titled “Norms, Guidelines and Procedures for Implementation of Indian Space Policy-2023 in respect of Authorisation for Undertaking Planned Re-entry of Space Objects”.
• The new guidelines aim to regulate planned spacecraft re-entry activities by private space entities and ensure space safety, liability, and accountability.
• The guidelines were issued on 23 July 2026, made public on 29 July 2026, and released under the framework of the Indian Space Policy 2023.
• Under the new guidelines, Indian space entities must obtain authorisation from IN-SPACe for conducting planned re-entry of space objects.
• Foreign space entities planning re-entry activities must apply through an Indian incorporated entity as per the new norms.
• Companies undertaking planned re-entry must maintain a casualty risk level below 1 in 10,000 and submit necessary trajectory and risk assessment reports.
• Space companies are required to conduct planned re-entry activities at their own risk and comply with prescribed safety and liability requirements.
• Entities must obtain third-party liability insurance, wherever required, to address potential risks arising from space object re-entry.
• Companies must declare planned re-entry details during the authorisation process or seek approval at least six months before execution if the decision is taken after the spacecraft launch.
• The new guidelines strengthen space debris management, improve space sustainability, and enhance accountability in India’s private space sector.
• The guidelines support the growth of India’s private space industry by creating a structured regulatory framework for safe space operations.

About IN-SPACe :

• IN-SPACe (Indian National Space Promotion and Authorisation Centre) was established in 2020 under the Department of Space (DoS).
• Headquarters : Ahmedabad, Gujarat.
• Chairperson : Pawan Kumar Goenka.

CURRENT AFFAIRS: RANKING AND REPORTS

Environmental Performance Index (EPI) 2026 Released: India Ranked 176th Globally

• The Environmental Performance Index (EPI) 2026 has been released by Yale University in collaboration with the Yale Center for Environmental Law & Policy (YCELP), Columbia University’s Center for International Earth Science Information Network (CIESIN) and the Yale Center for Geospatial Solutions, with support from the McCall MacBain Foundation.
• The EPI 2026 assessed 177 countries using 47 indicators across 12 environmental issue categories, including climate change, environmental health, air quality, water quality, biodiversity, ecosystem vitality, forestry, waste management and pollution control.
• Estonia secured 1st rank with a score of 74.79, followed by Luxembourg (2nd) and the United Kingdom (3rd).
• India ranked 176th out of 177 countries with a score of 22.46, making it the second-lowest ranked country, ahead of Laos (177th).
• India has remained among the five worst-performing countries in the Environmental Performance Index since 2022.
• Among South Asian countries, India ranked 7th out of 8 countries.
• India recorded poor performance in Environmental Health, Air Quality, and Biodiversity, ranking 174th in both Air Quality and Biodiversity.
• India performed relatively better in Climate Change (130th) and Waste Management and Sanitation (both 141st).
• The report highlighted India's progress in some environmental sectors but pointed to persistent challenges in air pollution, biodiversity conservation, ecosystem protection and environmental sustainability.
• The Ministry of Environment, Forest and Climate Change (MoEFCC) has previously questioned the EPI methodology, stating that several indicators are based on unscientific assumptions, extrapolated data and methods that do not accurately reflect India's environmental performance.

Top 10 Countries in Environmental Performance Index (EPI) 2026

1. Estonia
2. Luxembourg
3. United Kingdom
4. Finland
5. Netherlands
6. Germany
7. France
8. Norway
9. Sweden
10. Austria

CURRENT AFFAIRS: SPORTS NEWS

India Creates History with Double Podium in Men's Javelin Throw at Commonwealth Games 2026

• Neeraj Chopra won the silver medal, while Yashvir Singh secured the bronze medal in the Men's Javelin Throw at the Commonwealth Games 2026 in Glasgow, Scotland.
• This is the first time India has achieved a double podium finish in the Men's Javelin Throw at the Commonwealth Games.
• Neeraj Chopra recorded a best throw of 85.83 metres to finish second behind Rumesh Pathirage (Sri Lanka), who won the gold medal with a throw of 89.75 metres.
• Yashvir Singh produced a personal best throw of 85.41 metres on his sixth and final attempt, winning the bronze medal and becoming the third Indian man to win a Commonwealth Games medal in the event.
• Yashvir's bronze was his first international medal, and he crossed the 85-metre mark for the first time in his career.
• Rohit Yadav finished outside the medals after recording a best throw of 81.56 metres.
• Pakistan's Arshad Nadeem, the reigning Olympic champion, failed to qualify for the final eight after managing 77.41 metres in the qualification rounds.

Previous Indian Commonwealth Games Medallists in Men's Javelin Throw

• Kashinath Naik – Bronze (Delhi 2010)
• Neeraj Chopra – Gold (Gold Coast 2018)
• Neeraj Chopra – Silver (Glasgow 2026)
• Yashvir Singh – Bronze (Glasgow 2026)

India Wins Historic Double Gold in Judo at Commonwealth Games 2026

• Asmita Dey and Harsh Singh won gold medals in Judo at the Commonwealth Games 2026 in Glasgow, Scotland, marking a historic achievement for India.
• Asmita Dey won the Women's 48 kg title by defeating Heidi Quach (Canada) 2–1 in the final after the match entered the Golden Score period.
• With this victory, Asmita Dey became the first Indian judoka to win a Commonwealth Games gold medal.
• Harsh Singh clinched the Men's 60 kg gold medal after defeating Joshua Katz (Australia) by 10–0 in the final. Joshua Katz was the bronze medallist at the previous Commonwealth Games.
• The two gold medals marked India's best-ever performance in Judo at the Commonwealth Games, significantly boosting the country's overall medal tally.

• Judo is a Japanese martial art and Olympic combat sport, founded by Jigoro Kano in 1882.
• The sport focuses on throws, holds, joint locks, and chokeholds, with victory achieved through Ippon (full point), submission, or points scored during the contest.
• In tied knockout matches, a Golden Score period is played, where the first scoring action or penalty decides the winner.

Tejaswin Shankar Wins Historic Bronze in Men's Decathlon at Commonwealth Games 2026

• Tejaswin Shankar won the bronze medal in the Men's Decathlon at the Commonwealth Games 2026 in Glasgow, Scotland, becoming the first Indian to win a medal in the decathlon event at the Commonwealth Games.
• Despite competing with a knee injury, he finished with 7,976 points and secured the bronze medal after completing the final 1,500m race in 4:36.19.
• Lindon Victor (Grenada) won the gold medal, while Damian Warner (Canada) secured the silver medal.
• Tejaswin had earlier created history by winning the bronze medal in the Men's High Jump at the 2022 Commonwealth Games in Birmingham, becoming the first Indian male high jumper to win a Commonwealth Games medal.
• In 2026, he also won the gold medal in the Heptathlon at the Asian Indoor Athletics Championships, setting a national record of 5,993 points.
• He is also the first Indian decathlete to cross the 8,000-point mark, setting the national record of 8,057 points at the National Federation Senior Athletics Championships.

About Decathlon

• Decathlon is a combined athletics event consisting of 10 track and field disciplines conducted over two days.
• The ten events are: 100m, Long Jump, Shot Put, High Jump, 400m, 110m Hurdles, Discus Throw, Pole Vault, Javelin Throw, and 1,500m.
• Athletes earn points in each event based on performance, and the highest total points determine the winner.

CURRENT AFFAIRS: IMPORTANT DAYS

World Wide Web Day 2026 Observed on 1 August

• World Wide Web Day is observed every year on 1 August to commemorate the invention of the World Wide Web (WWW) and recognise its role in transforming global communication, information sharing and digital connectivity.
• The day highlights the importance of web browsing, which enables users worldwide to access information, conduct business, communicate and perform various online activities.
• The World Wide Web was invented in 1989 by Sir Tim Berners-Lee, a British computer scientist, while working at CERN (European Organization for Nuclear Research).
• On 1 August 1989, Sir Tim Berners-Lee proposed the concept of a web-based communication system that revolutionised the way people access and share information through the internet.
• In 1991, the World Wide Web became publicly available, allowing users outside research institutions to access web pages through the internet.
• In 1993, the graphical web browser Mosaic was launched, making internet usage more user-friendly and increasing public adoption of the web.
• In 1994, InternetWorks was introduced, becoming one of the early browsers that supported multiple tabs within a single browser window.
• In 1996, Internet Explorer was integrated into the Windows operating system, contributing to the widespread adoption of web browsing.

Daily CA One- Liner: August 2 & 3

• Indian Railways has introduced an online excess luggage booking facility for passengers travelling on confirmed reserved tickets, allowing them to declare and pay for excess personal luggage while booking tickets through the Indian Railway Catering and Tourism Corporation (IRCTC)
• Prime Minister Narendra Modi inaugurated the Alluri Sitarama Raju International Airport at Bhogapuram, Vizianagaram district, Andhra Pradesh, marking a major boost to aviation connectivity and infrastructure in North Andhra
• Pithora Painting, the traditional wall art of the Rathwa tribal community of Gujarat, has been granted the Geographical Indication (GI) Tag, strengthening the protection and promotion of India's tribal cultural heritage
• The Environmental Performance Index (EPI) 2026 has been released by Yale University in collaboration with the Yale Center for Environmental Law & Policy (YCELP), Columbia University’s Center for International Earth Science Information Network (CIESIN) and the Yale Center for Geospatial Solutions, with support from the McCall MacBain Foundation
• Neeraj Chopra won the silver medal, while Yashvir Singh secured the bronze medal in the Men's Javelin Throw at the Commonwealth Games 2026 in Glasgow, Scotland
• Asmita Dey and Harsh Singh won gold medals in Judo at the Commonwealth Games 2026 in Glasgow, Scotland, marking a historic achievement for India
• Tejaswin Shankar won the bronze medal in the Men's Decathlon at the Commonwealth Games 2026 in Glasgow, Scotland, becoming the first Indian to win a medal in the decathlon event at the Commonwealth Games.
• The Reserve Bank of India (RBI) has deferred the implementation of its revised Basel Pillar III Disclosure Framework by six months, with the new effective date fixed as 1 April 2027.
• The Insurance Regulatory and Development Authority of India (IRDAI) approved a comprehensive reform package during its 137th Authority Meeting held on 28 July 2026 to modernise the insurance sector and strengthen policyholder protection.
• The Asian Development Bank (ADB) approved a USD 1 billion loan to support the Government of India’s (GoI) urban reform agenda and accelerate urban transformation across the country.
• According to an analysis by 1Lattice based on Reserve Bank of India (RBI) data, State Bank of India (SBI) remained India’s largest debit card issuer with a 25% market share in June 2026.
• The Government of Venezuela, under Interim President Delcy Eloína Rodríguez Gómez, formally notified the United Nations (UN) of its decision to withdraw from the Rome Statute, initiating the process to leave the International Criminal Court (ICC).
• Saudi Arabia and 13 other countries announced the formation of a Multinational Maritime Defence Alliance to strengthen maritime security and protect global shipping routes amid rising regional tensions.
• Varsha Ashok Aglawe assumed charge as the 54th Director General (DG) of the Geological Survey of India (GSI) on 31 July 2026.
• The Government of India (GoI) appointed Air Marshal Sandeep Thareja, SM, VSM & Bar as the next Director General Armed Forces Medical Services (DGAFMS).
• The National Skill Development Corporation (NSDC) and AVPL International entered into a strategic collaboration to establish 350 Advanced Skill Centres (ASCs) for Drone Technology across India over the next three years.
• The Indian National Space Promotion and Authorisation Centre (IN-SPACe) introduced new guidelines titled “Norms, Guidelines and Procedures for Implementation of Indian Space Policy-2023 in respect of Authorisation for Undertaking Planned Re-entry of Space Objects”.
• World Wide Web Day is observed every year on 1 August to commemorate the invention of the World Wide Web (WWW) and recognise its role in transforming global communication, information sharing and digital connectivity