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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Allows Urban Co-operative Banks to Invest in Indian Digital Payment Intelligence Corporation

• The Reserve Bank of India (RBI) amended the investment norms for Urban Co-operative Banks (UCBs) on 2 September 2026, allowing them to acquire equity shares of the Indian Digital Payment Intelligence Corporation (IDPIC).
• The amendment enables UCBs to obtain membership of India’s central digital payment fraud intelligence platform, strengthening their participation in combating digital payment fraud.
• The change was introduced following the establishment of IDPIC as India’s central platform for digital payment fraud intelligence.
• Under the revised directions, equity shares of IDPIC have been added to the list of permissible investments that UCBs can make when such investment is required to acquire membership of eligible organisations.
• The Amendment Directions were issued under Section 35A of the Banking Regulation Act, 1949, read with Section 56 and other enabling provisions of law.
• The RBI stated that it was satisfied that the amendment was necessary and expedient in the public interest.
• The Indian Digital Payment Intelligence Corporation (IDPIC) is India’s central non-profit hub designed to detect and prevent digital payment fraud in real time across the financial ecosystem.

India’s Current Account Deficit Rises to $4.2 Billion in Q1 FY27

• India’s Current Account Deficit (CAD) widened to USD 4.2 billion, or 0.5% of GDP, in Q1 FY2026–27 (April–June 2026), compared with USD 3.4 billion, or 0.4% of GDP, in Q1 FY2025–26.
• The widening of the CAD was mainly driven by a sharp increase in the merchandise trade deficit, amid the West Asia conflict.

Key Highlights :

• According to the Reserve Bank of India (RBI) Balance of Payments (BoP) data, India’s merchandise trade deficit increased to USD 86.1 billion in Q1 FY2026–27 from USD 68.9 billion in the corresponding quarter of FY2025–26.
• The impact of the higher merchandise trade deficit was partly offset by stronger net services receipts, which increased to USD 51.6 billion in Q1 FY2026–27 from USD 47.9 billion a year earlier.
• Services exports recorded year-on-year growth across major segments, including computer services, other business services and transportation services.
• The net outgo under the primary income account declined to USD 10.5 billion in Q1 FY2026–27 from USD 13.3 billion in Q1 FY2025–26, mainly due to lower investment income payments.
• Personal transfer receipts, mainly representing remittances from Indians employed overseas, increased significantly to USD 42.9 billion in Q1 FY2026–27 from USD 33.2 billion in the year-ago quarter.
• Net Foreign Direct Investment (FDI) inflows increased to USD 6.1 billion in Q1 FY2026–27 from USD 5.2 billion in Q1 FY2025–26.
• Foreign Portfolio Investment (FPI) recorded a net outflow of USD 9.6 billion in Q1 FY2026–27, reversing a net inflow of USD 1.6 billion in the corresponding quarter of the previous year.
• Net inflows into Non-Resident deposits stood at USD 2.8 billion, lower than USD 3.6 billion in Q1 FY2025–26.
• Net inflows under External Commercial Borrowings (ECBs) moderated to USD 3.3 billion in Q1 FY2026–27 from USD 4.4 billion a year earlier.
• India’s foreign exchange reserves declined by USD 8.1 billion on a Balance-of-Payments basis during Q1 FY2026–27, compared with an increase of USD 4.5 billion in the same quarter of the previous year.

Goods and Services Tax Collections Rise 14.8% in August 2026 to Nearly ₹2 Lakh Crore

• India’s Gross Goods and Services Tax (GST) collections increased by 14.8% year-on-year to ₹1,99,853 crore (nearly ₹2 lakh crore) in August 2026, according to official data released on 1 September 2026.
• The August 2026 GST collection reflects the business activity of July 2026.
• Net GST collections after adjusting for refunds stood at ₹1.68 lakh crore, registering 8.3% year-on-year growth.
• The comparatively lower growth in net GST collections was mainly due to the significant increase in GST refunds.
• The GST collection for August 2025 was revised downward from the originally reported ₹1.86 lakh crore to ₹1.74 lakh crore, resulting in the revised 14.8% year-on-year growth in August 2026.
• If the August 2025 GST collection had not been revised downward, the growth in August 2026 would have been around 7%.
• Gross GST revenue before accounting for refunds stood at ₹1.99 trillion in August 2026, registering 14.8% annual growth.
• Gross GST revenue from domestic transactions increased by 9.3% year-on-year to around ₹1.37 lakh crore.
• Gross GST revenue from imports increased sharply by 29% to ₹62,604 crore, continuing to grow faster than revenue from domestic transactions.
• During August 2026, Central GST (CGST) collection stood at ₹38,413 crore, State GST (SGST) collection stood at ₹46,316 crore, and Integrated GST (IGST) collection stood at over ₹1.15 lakh crore.
• GST refunds increased by 68% year-on-year to ₹31,795 crore in August 2026.
• Domestic GST refunds increased by nearly 73% to ₹18,490 crore, while refunds of GST paid on imports increased by nearly 62% to ₹13,305 crore.
• In July 2026, the Centre and State governments collected ₹1.81 lakh crore in net GST revenue after adjusting for ₹29,968 crore in tax refunds.
• GST rates were restructured in September 2025 with the objective of boosting consumption demand.
• On a cumulative basis, gross GST collections during April–August 2026 (FY2026–27) increased by 11% year-on-year to ₹10.43 lakh crore.
• Net GST collections during April–August 2026 increased by 9% year-on-year to ₹8.90 lakh crore.
• The GST Council is scheduled to meet in New Delhi on 12 September 2026, following the officers’ meeting on 11 September 2026, according to the official notice issued by the GST Council Secretariat.

Life Insurance Corporation of India Introduces Bima Platinum and Jeevan Raksha Plans on Its 70th Anniversary

• Life Insurance Corporation of India (LIC) launched two new non-linked, non-participating insurance plans—LIC Bima Platinum (Plan 770) and LIC Jeevan Raksha (Plan 894)—to mark its 70th anniversary.
• The two plans were launched by R. Doraiswamy, CEO and Managing Director (MD) of LIC, in Mumbai, Maharashtra, on 1 September 2026.
• Both insurance plans will be available from 7 September 2026 through online platforms and offline distribution channels across India.
• LIC Bima Platinum (Plan 770) is a Non-Participating (Non-Par), Non-Linked, individual savings and protection plan with a limited premium payment structure.
• Under LIC Bima Platinum, the minimum Basic Sum Assured (BSA) is ₹3 lakh, with no upper limit, subject to the insurer's underwriting policy. The sum assured is available in multiples of ₹10,000.
• LIC Bima Platinum provides guaranteed additions of ₹70 per ₹1,000 of annual premium paid during the Premium Paying Term (PPT), with the additions accruing at the end of each year during the PPT.
• LIC Bima Platinum also offers regular income benefits and booster income benefits, combining long-term savings with financial protection.
• LIC Jeevan Raksha (Plan 894) is a Non-Participating, Non-Linked, Pure Risk Plan designed to provide financial protection to the insured’s family in case of death during the policy term.
• Under LIC Jeevan Raksha, the minimum Basic Sum Assured is ₹5 lakh and the maximum is ₹24 lakh, subject to acceptance under the Board-approved underwriting policy.
• The Basic Sum Assured under Jeevan Raksha is available in multiples of ₹50,000 for ₹5–7 lakh and ₹1 lakh above ₹7 lakh.
• The death benefits under LIC Jeevan Raksha are guaranteed and fixed, irrespective of the actual experience of the insurer.
• Jeevan Raksha does not provide discretionary benefits, such as bonuses or a share in surplus, because it is a non-participating plan.
• The launch of these two products is part of LIC’s effort to diversify its product portfolio and meet different customer financial-protection and savings requirements.
• The new plans reflect LIC’s focus on combining long-term financial protection with savings-oriented solutions.

About Life Insurance Corporation of India :

• Founded : 1 September 1956
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : R. Doraiswamy

Unified Payments Interface Records 24.51 Billion Transactions in August, Reaching ₹29.82 Trillion in Value

• According to data released by the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) transactions reached a record 51 billion in August 2026.
• The value of UPI transactions stood at ₹29.82 lakh crore (₹29.82 trillion) in August 2026.

Key Highlights :

• UPI transaction volume increased by 3.6% from 23.66 billion in July 2026, while transaction value declined marginally by 0.2% from ₹29.88 lakh crore.
• August 2026 marked the second consecutive month of record UPI transaction volume, following the record of 23.66 billion transactions in July 2026.
• The highest-ever UPI transaction value was recorded in May 2026 at ₹29.9 lakh crore, across 23.2 billion transactions.
• Compared with August 2025, UPI transaction volume increased by 22%, while transaction value increased by 20%.
• Average daily UPI transactions increased to 791 million in August 2026, from 763 million in July 2026.
• Daily UPI transaction value stood at approximately ₹96,205 crore in August, compared with ₹96,383 crore in July.
• IMPS (Immediate Payment Service) transactions declined by more than 1% to 360 million in August 2026, compared with 364 million in July.
• The value of IMPS transactions declined by around 1% to ₹7.04 lakh crore in August from ₹7.11 lakh crore in July.
• Compared with August 2025, IMPS transaction volume declined by 25%, while its transaction value increased by 18%.
• FASTag transactions increased by 1.2% to 351 million in August 2026, while their transaction value rose to ₹7,185 crore from ₹7,143 crore in July.
• Daily FASTag transactions increased from 21 million in July to 11.32 million in August, while daily transaction value rose from ₹230 crore to ₹232 crore.
• Aadhaar Enabled Payment System (AePS) transactions increased by 4% to 104 million in August, compared with 100 million in July.
• AePS transaction value declined by 5% to ₹26,035 crore in August from ₹27,539 crore in July.
• Compared with August 2025, both AePS transaction volume and value declined by 19%.
• Daily AePS transactions increased from 3.24 million to 3.35 million, while daily transaction value declined from ₹888 crore to ₹840 crore.
• NPCI is an umbrella organisation for operating retail payment and settlement systems in India and is an initiative of the Reserve Bank of India (RBI) and the Indian Banks' Association (IBA).
• UPI enables real-time digital payments between individuals (P2P) and between customers and merchants (P2M).
• UPI was launched on 25 August 2016 and has significantly transformed India’s digital payments ecosystem.
• UPI transaction value increased from ₹0.07 lakh crore in FY2016–17 to around ₹314 lakh crore in FY2025–26, representing a more than 4,000-fold increase over the decade.
• UPI is now accepted in 11 countries, with Uzbekistan being the latest addition.
• The 11 countries where UPI is accepted are Singapore, UAE, France, Mauritius, Nepal, Bhutan, Qatar, Sri Lanka, Cambodia, Greece, and Uzbekistan.

Ministry of Statistics and Programme Implementation Releases Trial Index of Services Production (ISP) Covering 19 Sub-Sectors for June 2026

• The Ministry of Statistics and Programme Implementation (MoSPI) released India’s trial Index of Services Production (ISP) covering 19 sub-sectors, with 2024–25 as the base year.
• The ISP provides India’s first monthly measure of short-term activity in the formal services sector, making it an important indicator of services-sector performance.
• The Index of Services Production (ISP) has been developed under the guidance of the Technical Advisory Committee on Index of Services Production (TAC-ISP).
• Debjani Ghosh, Distinguished Fellow of NITI Aayog, chaired the Technical Advisory Committee on ISP (TAC-ISP).
• The ISP is compiled using multiple data sources, including Goods and Services Tax (GST) data, administrative records, and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE).
• Administrative records used for the ISP include data from sectors such as railways, air transport, banking and insurance.
• In June 2026, 18 out of 19 sub-sectors recorded positive year-on-year growth, indicating broad-based expansion in the formal services sector.
• In June 2026, 8 out of 19 sub-sectors registered double-digit year-on-year growth.
• Air Transport was the only sub-sector to record a contraction, declining by 6% year-on-year in June 2026.
• Real Estate emerged as the fastest-growing services sub-sector, recording 24.7% year-on-year growth in June 2026.
• Retail Trade recorded 18.0% year-on-year growth, making it the second-fastest-growing sub-sector among the major services segments.
• Wholesale Trade registered 15. 1% year-on-year growth in June 2026.
• Administrative and Support Services recorded 14.4% year-on-year growth in June 2026.
• Information Technology (IT) and Computer-related Services registered 13.5% year-on-year growth in June 2026.

Japan Credit Rating Agency Upgrades India’s Sovereign Rating to ‘A-’ with Stable Outlook

• Japan Credit Rating Agency (JCR) upgraded India’s Long-Term Foreign Currency and Local Currency Issuer Ratings by one notch, from ‘BBB+’ to ‘A-’.
• JCR maintained a stable Outlook for India and also upgraded India’s Country Ceiling by one notch from ‘BBB+’ to ‘A’.
• The rating upgrade reflects India’s solid economic growth, effective economic policies, strengthened economic foundations, and improved soundness of the financial system.
• JCR noted that India’s economy continues to maintain a high growth rate, supported by robust private consumption and public investment.
• India’s Real GDP growth remained at 8% in FY26, according to the latest estimates released by the Ministry of Statistics and Programme Implementation (MoSPI).
• India’s Real GDP grew by 8% in Q1 FY27, despite prevailing global economic headwinds, indicating continued growth momentum.
• JCR highlighted policies supporting productivity growth and economic development, including Digital Public Infrastructure (DPI) and implementation of the Goods and Services Tax (GST).
• The agency recognised improvement in the quality of fiscal expenditure, with greater emphasis on capital expenditure, particularly infrastructure investment.
• India’s Central Government fiscal deficit declined from 4.7% of GDP in FY25 to 4.4% in FY26, while capital expenditure remained high.
• JCR highlighted the improved soundness of India’s financial system, supported by stronger banking-sector asset quality, capital adequacy and profitability.
• The strengthening of the banking sector was supported by the Insolvency and Bankruptcy Code (IBC), Government capital infusion, and enhanced RBI supervision.
• The Non-Banking Financial Sector also recorded improvements in asset quality and capital adequacy, further strengthening India’s financial system.
• India’s Current Account Deficit (CAD) remains contained, supported by a surplus in the services balance.
• India’s ample foreign exchange reserves, which significantly exceed short-term external debt, provide resilience against external economic shocks.
• The upgrade comes amid a challenging global environment and reflects the continued strengthening of India’s economic fundamentals.
• India had also received sovereign rating upgrades from other agencies: Morningstar DBRS in May 2025, S&P Global Ratings in August 2025, and Rating and Investment Information (R&I), Japan, in September 2025.

InsuranceDekho and RenewBuy Unite to Create India’s Largest AI-Powered Insurance Distribution Platform

• InsuranceDekho (Girnar Insurance Brokers Private Limited) and RenewBuy (D2c Insurance Broking Private Limited) have merged to create India’s largest AI-enabled insurance distribution platform, based on Point of Sales Person (PoSP)-driven premium generated in FY 2025–26.
• The merged entity will operate under the InsuranceDekho brand and will be led by Ankit Agrawal as its Chief Executive Officer (CEO).
• The founders of both InsuranceDekho and RenewBuy will continue in key leadership roles to oversee the merged entity’s strategy and business execution.
• The combined entity has a premium book exceeding ₹6,600 crore, highlighting its large-scale insurance distribution operations.
• The platform has a network of over 6 lakh digital partners and covered 57% of India’s pin codes as of March 31, 2026.
• Since inception, the two companies together have facilitated the issuance of more than 2 crore insurance policies.
• The merger strategically combines InsuranceDekho’s strong distribution network in northern and western India with RenewBuy’s established presence in southern India, creating pan-India coverage.
• The integrated platform will combine InsuranceDekho’s real-time insurance-plan recommendation tools with RenewBuy’s technology stack.
• The AI-first platform will support automated partner onboarding, integrated digital policy issuance and AI-powered advisory services.
• The platform will operate as an open multi-insurer ecosystem, offering more than 750 insurance products from 52 insurers.
• The insurance products will cover motor, health, life, travel and commercial insurance segments.
• The combined platform aims to bridge the urban-rural divide by providing partner agents in smaller towns and villages with digital tools, insurance products and operational support comparable to those available in metro cities.
• The unified entity will work closely with the Insurance Regulatory and Development Authority of India (IRDAI) to promote financial inclusion through wider access to insurance services.
• Founder & CEO of InsuranceDekho : Ankit Agrawal
• CEO, RenewBuy : Balachander Sekhar

GIFT IFSC Strengthens Position as International Banking Hub with $52.8 Billion FCNR(B) Mobilisation and $11.62 Billion External Commercial Borrowings

• The International Financial Services Centres Authority (IFSCA) highlighted the growing role of GIFT City IFSC in India’s foreign currency mobilisation and external financing requirements.
• As of 31 August 2026, 20 IFSC Banking Units (IBUs) had sanctioned USD 54.02 billion under the RBI’s special swap facility for FCNR(B) deposits, of which approximately USD 52.82 billion had already been disbursed.
• Sanctions under the FCNR(B) swap facility increased rapidly from USD 28.60 billion on 14 August 2026 to USD 37.26 billion on 21 August 2026 and further to USD 54.02 billion on 31 August 2026.
• The 20 participating IBUs include both leading Indian banks and foreign banks, demonstrating the depth and capability of the GIFT-IFSC banking ecosystem.
• The FCNR(B) swap facility demonstrates the ability of GIFT-IFSC to connect Indian banking units with global sources of foreign currency liquidity and channel international capital towards India.
• From April to August 2026, IBUs at GIFT-IFSC disbursed USD 11.62 billion in External Commercial Borrowings (ECBs).
• Monthly ECB disbursements through GIFT-IFSC increased from USD 1.54 billion in April 2026 to USD 3.54 billion in August 2026, highlighting its growing importance in cross-border financing.
• During April–August 2026, Indian banks raised USD 11.12 billion through bond listings on IFSC exchanges.
• Out of the total USD 11.12 billion raised through bond listings, USD 9.17 billion worth of bonds were listed during July–August 2026.
• GIFT-IFSC is emerging as a deep, diversified and increasingly integrated international banking ecosystem, supporting FCNR(B) mobilisation, ECB financing and international bond issuances.
• IBUs at GIFT-IFSC are mobilising funds from multiple global jurisdictions, including the United Kingdom, United States, Mexico, West Asia, Hong Kong, Singapore and certain African countries.
• The Union Finance Minister directed the Managing Directors (MDs) and Chief Executive Officers (CEOs) of Public Sector Banks (PSBs) to leverage the financial services ecosystem and institutional infrastructure of GIFT-IFSC for implementing RBI’s swap facilities for FCNR(B) deposits and ECBs.
• IFSCA is the unified regulatory authority established by the Government of India under the IFSCA Act, 2019 for the development and regulation of financial products, financial services and financial institutions in India’s International Financial Services Centres (IFSCs).
• GIFT-IFSC is a strategic project of the Government of India, being developed as an international financial hub connecting India with global markets and investors.
• The development of GIFT-IFSC supports the broader Viksit Bharat@2047 agenda envisioned by the Prime Minister.

Ministry of Statistics and Programme Implementation Releases National Accounts Statistics 2026 with 2022–23 as the Base Year

• The Ministry of Statistics and Programme Implementation (MoSPI) released the National Accounts Statistics (NAS) – 2026 publication, adopting 2022–23 as the base year for national account estimates.
• NAS 2026 presents 60 statements based on the updated Final Estimates for FY2022–23 (FY23), FY2023–24 (FY24) and the First Revised Estimate for FY2024–25 (FY25).
• The publication provides comprehensive data on major macro-economic aggregates, including production and value added, consumption and expenditure, savings and capital formation, public sector transactions, and external transactions.
• NAS 2026 covers important national economic indicators such as Gross Domestic Product (GDP) and National Income, along with other key macro-economic measures.
• The revised national accounts estimates incorporate updated statistical series, including the Producer Price Index (PPI) with the 2022–23 base year.
• The revised estimates also incorporate the Index of Industrial Production (IIP) with the 2022–23 base year.
• The Banking Services Price Index (BkSPI) has also been incorporated into the revised national accounts framework with 2022–23 as the base year.

Centre’s Fiscal Deficit Reaches 26.8% of FY27 Target by July

• India’s fiscal deficit stood at ₹4,55,144 crore, or 26.8% of the full-year target, during April–July 2026 (first four months of FY2026–27).
• The fiscal deficit was 29.9% of the Budget Estimates (BE) during the corresponding period of FY2025–26, indicating a lower proportion of the annual target reached in FY27.
• The fiscal deficit represents the gap between the government’s total expenditure and total revenue.
• For FY2026–27, the Central Government has set the fiscal deficit target at 4.3% of GDP, equivalent to approximately ₹16.96 lakh crore.
• The FY27 fiscal deficit target reflects the Government’s continued commitment to fiscal consolidation and maintaining the Budget deficit under control.
• Revenue receipts of the Centre stood at approximately ₹12,67,573 crore during April–July 2026.
• Net tax revenue stood at around ₹8,44,560 crore, equivalent to 29.5% of the FY27 Budget Estimate by the end of July 2026.
• In the corresponding period of FY26, net tax revenue had reached 23.3% of the annual Budget Estimate, showing stronger tax revenue collection in the current fiscal year.
• The Centre’s non-tax revenue stood at approximately ₹4.23 lakh crore during the first four months of FY27.
• Non-tax revenue includes receipts such as dividends from public sector enterprises and RBI, spectrum-related income and various government fees.
• The RBI transferred a record ₹2.87 lakh crore dividend to the Central Government, compared with ₹2.69 lakh crore transferred in the previous year, supporting government finances and helping contain the fiscal deficit.
• The revenue deficit stood at ₹43,645 crore, equivalent to 7.4% of the FY27 Budget target.
• The Centre’s total expenditure during April–July 2026 was approximately ₹17.61–17.62 lakh crore, representing 32.9% of the FY27 Budget Estimate.
• In the corresponding period of FY26, total expenditure had reached 30.9% of the annual Budget Estimate, indicating higher expenditure utilisation in FY27.
• The Central Government transferred ₹3,72,354 crore to State Governments as their share of tax devolution during April–July 2026.
• The tax devolution to States was ₹56,190 crore lower than the amount transferred during the corresponding period of the previous fiscal year.
• ICRA estimated that India’s FY27 fiscal deficit could overshoot the Budget Estimate by around ₹0.9–1.0 trillion, although the impact could be absorbed through expenditure savings.
• Expenditure savings during FY2025–26 were estimated at around ₹1.6–1.7 trillion, providing some cushion against a possible fiscal deficit overshoot.

Punjab National Bank Signs Memorandum of Understanding  with Oriental Insurance to Offer Salary Package Benefits to Employees

• Punjab National Bank (PNB) entered into a Memorandum of Understanding (MoU) with Oriental Insurance Company Limited (OICL) to provide Salary Package Benefits to OICL employees.
• The partnership aims to provide enhanced banking services and exclusive financial benefits to the employees of OICL.
• Under the MoU, PNB will offer a comprehensive Salary Package Account to OICL employees.
• The Salary Package Account will include benefits such as enhanced insurance protection, concessional offers on retail loans, and other banking services.

About Punjab National Bank (PNB) :

• It is an Indian public sector bank headquartered in New Delhi.
• Managing Director and Chief Executive Officer (MD & CEO) : Shri Ashok Chandra

About Oriental Insurance Company Limited (OICL) :

• It is an Indian public sector insurance company owned by the Government of India and administered by the Ministry of Finance.
• Incorporated in Mumbai on 12 September 1947.

India’s Total Exports Rise 13.31% to USD 80.14 Billion in July 2026

• According to the Ministry of Commerce and Industry, India’s total exports of merchandise and services increased by 13.31% year-on-year (YoY) to USD 80.14 billion in July 2026, compared with USD 70.72 billion in July 2025.

Key Highlights :

• India’s total imports rose by 15.83% YoY to USD 95.16 billion in July 2026, compared with USD 82.16 billion in July 2025.
• India’s overall trade deficit widened to USD 15.03 billion in July 2026, compared with USD 11.43 billion in July 2025.
• Merchandise exports recorded strong growth of 19.63%, increasing to USD 44.24 billion in July 2026 from USD 36.98 billion in July 2025.
• Services exports were estimated at USD 35.89 billion in July 2026, compared with USD 33.74 billion a year earlier; the July services figure is an estimate because the latest RBI services-sector data available was for June 2026.
• During April–July 2026-27, India’s total exports of merchandise and services were estimated at USD 316.42 billion, registering 13.16% growth over USD 279.63 billion during the corresponding period of 2025-26.
• Total imports during April–July 2026-27 increased by 17.28% to USD 365.85 billion, compared with USD 311.94 billion a year earlier.
• The cumulative trade deficit during April–July 2026-27 stood at USD 49.43 billion.
• Merchandise exports during April–July 2026-27 increased by 17.04% to USD 173.78 billion, compared with USD 148.48 billion in the corresponding period of 2025-26.
• Non-petroleum exports increased by 12.79% to USD 143.61 billion during April–July 2026-27, compared with USD 127.32 billion a year earlier.
• Petroleum product exports increased by 67.64% to USD 6.92 billion in July 2026, compared with USD 4.13 billion in July 2025.
• Electronic goods exports rose by 40% to USD 5.92 billion, compared with USD 3.76 billion in July 2025.
• Engineering goods exports increased by 17.71% to USD 12.24 billion in July 2026.
• Exports of organic and inorganic chemicals grew by 14.39% to USD 2.80 billion in July 2026.
• Exports of cotton yarn, fabrics, made-ups and handloom products increased by 8.40% to USD 1.11 billion.
• Among major export categories, iron ore exports recorded the highest growth of 78.35% in July 2026.
• Other major export categories showing strong growth included petroleum products, electronic goods, meat, dairy and poultry products, cashew and marine products.
• Exports of drugs and pharmaceuticals and man-made yarn, fabrics and made-ups also recorded marginal growth during July 2026.
• India’s services exports during April–July 2026-27 were estimated at USD 142.64 billion, compared with USD 131.15 billion in the same period of 2025-26.
• Services imports stood at USD 73.47 billion during April–July 2026-27, resulting in a services trade surplus of USD 69.17 billion.
• The services trade surplus increased from USD 64.35 billion in the corresponding period of 2025-26.
• The government estimated that services exports grew by 6.38% during April–July 2026-27.
• Among India’s major export destinations, the United States, China, Singapore, Kenya and Malaysia recorded positive export growth in July 2026.
• During April–July 2026-27, Singapore, China, Tanzania, South Africa and Sri Lanka were among the major destinations that recorded significant increases in export value.
• On the import side, Russia, China, Oman, Taiwan and the United States recorded import growth in July 2026.
• During April–July 2026-27, Russia, China, Oman, the United States and Brazil registered higher import values.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Tamil Nadu Proposes 21-Day Limit for Business and Regulatory Clearances

• Tamil Nadu Industries Minister S. Keerthana introduced the Tamil Nadu Business Facilitation (Amendment) Bill, 2026 in the State Assembly.
• The Bill proposes to cap the processing time for various business and regulatory clearances at 21 days.
• If an existing State law or subordinate legislation prescribes a period exceeding 21 days or does not specify a timeline, the processing period will generally be deemed to be 21 days.
• Public holidays and local holidays will not be counted while calculating the 21-day period.
• Existing timelines will continue where a clearance is required to be issued within 21 days or less.

Key Highlights

• Where a Central Act prescribes a period exceeding 21 days, the longer timeline under the Central law will prevail.
• The Bill also proposes the establishment of the Tamil Nadu Investment Promotion Commission, headed by the Chief Secretary, as a dedicated high-level body to monitor major investments.
• The proposed Commission will oversee:
• Investments involving capital investment of ₹200 crore or more.
• Investments expected to generate employment for 5,000 or more people.
• Investments linked to Free Trade Agreements.
• Investments by persons of Tamil origin residing outside India.
• Other investments notified by the Government.

About Tamil Nadu:

• Chief Minister: Joseph Vijay
• Governor: Rajendra Vishwanath Arlekar (Additional Charge)
• Capital: Chennai
• National Parks: Guindy National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Mudumalai National Park, Mukurthi National Park, Palani Hills National Park
• Wildlife Sanctuaries: Mudumalai Wildlife Sanctuary, Kalakad Wildlife Sanctuary, Point Calimere Wildlife Sanctuary, Vedanthangal Bird Sanctuary, Sathyamangalam Wildlife Sanctuary, Srivilliputhur Grizzled Squirrel Wildlife Sanctuary, Pulicat Lake Wildlife Sanctuary, Megamalai Wildlife Sanctuary

RECENT NEWS

• Tamil Nadu has notified three elephant corridors within the Hosur forest division that includes more than 10,300 hectares as an initiative towards safeguarding critical elephant routes connecting Tamil Nadu and Karnataka.

Kerala to Establish Coconut Park with Support from Coconut Development Board

• Kerala Chief Minister V. D. Satheesan announced the establishment of a Coconut Park in Kerala with the support of the Coconut Development Board.
• The announcement was made during the national-level celebrations of World Coconut Day 2026.
• The proposed Coconut Park will promote modern coconut processing and value addition and facilitate the production of high-quality processed coconut products for export markets.
• The initiative is expected to create opportunities for entrepreneurship, investment, value addition and market development in Kerala’s coconut sector.

Key Highlights

• The Kerala Government plans to focus on processing, packaging, branding and marketing to improve the value and competitiveness of coconut products.
• T. Siddique, Kerala Agriculture Minister, stated that the government would provide the necessary land and support for the initiative.
• Consultations with exporters and other stakeholders will be initiated within three months to develop export-oriented value-addition projects and strengthen business-to-business market linkages.
• Ram Nath Thakur, Union Minister of State for Agriculture and Farmers Welfare, called for expanding coconut cultivation beyond traditional growing regions.
• The National Coconut Awards 2026 were presented to recognise outstanding achievements in coconut cultivation, processing, value addition and entrepreneurship.

RECENT NEWS

• The state of Kerala got the first private medical museum, which is established in Ulloor, Thiruvananthapuram. This museum will offers visitors a fascinating journey through the human body by using the handcrafted anatomical models, paintings and medical archives. 

About Kerala:

• Chief Minister: V. D. Satheesan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar National Park, Silent Valley National Park, Mathikettan Shola National Park, Anamudi Shola National Park, Pambadum Shola National Park
• Wildlife Sanctuaries: Chinnar Wildlife Sanctuary, Idukki Wildlife Sanctuary, Wayanad Wildlife Sanctuary, Parambikulam Wildlife Sanctuary, Peechi-Vazhani Wildlife Sanctuary, Aralam Wildlife Sanctuary, Chimmony Wildlife Sanctuary, Kurinjimala Wildlife Sanctuary

Tamil Nadu Announces World-Class Olympic City and Dedicated Motorsports City in Chennai – 2026

• Tamil Nadu Chief Minister C. Joseph Vijay announced the establishment of a world-class Tamil Nadu Olympic City in Chennai under Rule 110 of the Tamil Nadu Legislative Assembly.
• The Tamil Nadu Sports Development Authority will develop the Olympic City with:
• World-class sports arenas
• State-of-the-art sporting equipment
• High-Performance Training Centre
• Dedicated Sports Science Centres
• Dedicated Sports Medicine Centres
• Modern infrastructure, including accommodation for sportspersons and coaches
• The Olympic City will function as an integrated sports hub, providing athletes with advanced training and support facilities to help sportspersons from Tamil Nadu win more medals at the Olympic Games and other international sporting events.

Key Highlights

• The Chief Minister also announced the establishment of a dedicated Motorsports City in Chennai to host Formula 1, Formula 2, Formula 3 and Formula 4 races.
• In June 2026, the Ministry of Youth Affairs and Sports constituted a task force to monitor motorsports in India, with the objective of exploring the return of Formula 1 racing to India by the end of 2028.
• The Federation of Motor Sports Clubs of India President Arindam Ghosh participated in a meeting with the Sports Ministry and stated that efforts were being made to bring Formula 1 back to India by 2030, along with a round of the World Rally Championship and MotoGP by 2028.
• Discussions between the Federation of Motor Sports Clubs of India and the Sports Ministry focused on bringing Formula 1, MotoGP and a round of the World Rally Championship to India, along with the development of Indian drivers and motorsports in the country.
• At the Federation of Motor Sports Clubs of India Annual Awards function, the 2025 Motorsports National Champions were honoured with 137 trophies across 17 disciplines, covering both two-wheelers and four-wheelers.
• Awards were also presented to the winning teams, promoters and sponsors of the 17 National Championships.

Gollala Gudi Temple in Telangana Declared a Monument of National Importance – 2026

• The Archaeological Survey of India has notified the Gollala Gudi Temple at Palampet in Mulugu district, Telangana, as a Monument of National Importance.
• The temple is located near the UNESCO World Heritage Site of Ramappa Temple and is known for its exquisite carvings and architectural heritage.
• The Gollala Gudi Temple is a Trikutalaya, consisting of an east-facing mandapa surrounded by three garbhagrihas.
• With its declaration as a monument of national importance, the temple will receive greater attention towards conservation, preservation, maintenance and regulated public access.

Key Highlights

• Monuments of national importance are protected under the Ancient Monuments and Archaeological Sites and Remains Act, 1958.
• The Archaeological Survey of India is responsible for the conservation, maintenance and protection of centrally protected monuments and archaeological sites.

About Telangana:

• Chief Minister: A. Revanth Reddy
• Governor: Shiv Pratap Shukla
• Capital: Hyderabad
• National Parks: Mahavir Harina Vanasthali National Park, Kasu Brahmananda Reddy National Park, Mrugavani National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Eturnagaram Wildlife Sanctuary, Kinnerasani Wildlife Sanctuary, Pakhal Wildlife Sanctuary, Pranahita Wildlife Sanctuary, Manjeera Wildlife Sanctuary, Shivaram Wildlife Sanctuary

RECENT NEWS

• Telangana has taken a major step towards global urban development by engaging international partners at the World Economic Forum 2026. In a key outcome, the UAE and Telangana agreed to explore collaboration for developing Bharat Future City, envisioned as a net-zero, future-ready smart city and a cornerstone of the state’s long-term growth strategy. 

India Introduces First National Minimum Standards for Mortuary and Post-Mortem Facilities

• India has finalised its first national minimum standards for mortuary and post-mortem infrastructure to bring uniformity in facilities across the country.
• The standards were finalised by the National Council for Clinical Establishments under the Directorate General of Health Services.
• The standards will be implemented by State Governments and Union Territory Administrations and apply to public and private hospitals in States and Union Territories that have adopted the Clinical Establishments (Registration and Regulation) Act, 2010.

Key Highlights

• Mortuary Location: Mortuaries cannot be located in basements or near hospital waste disposal and dumping areas. They should be established on the ground floor with separate entry points for body movement.
• Cold Storage: Dead-body cold storage units must maintain a temperature of 4°C to 8°C, with a minimum capacity of four bodies.
• Body Identification: Each body must be assigned a unique serial number on its storage cabin to ensure proper identification and traceability.
• Medico-Legal Cases: Bodies involved in medico-legal cases must be stored separately from non-medico-legal remains.
• Autopsy Infrastructure: A dedicated autopsy block of about 4,000 square feet has been prescribed, including a 2,000-square-foot operating area, viscera storage, waiting halls and administrative offices.
• Structural Standards: Mortuary corridors must be at least 8 feet wide, ceilings at least 10 feet high, and windows must have fly-proof external screens.
• The standards aim to improve uniformity, body identification and traceability, forensic quality, dignity in handling deceased individuals and infrastructure planning.

First Phase of Veligonda Irrigation Project Inaugurated in Andhra Pradesh – Financial Year 2026–27

• Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated the first phase of the Veligonda Irrigation Project and dedicated it to the nation.
• The project aims to divert Krishna River water from the Srisailam Reservoir to the Nallamala Sagar Reservoir through gravity, which will then be distributed through canals for irrigation and drinking water.

Key Highlights

• The first phase was completed at a cost of ₹7,983 crore, against the total estimated project cost of ₹10,200 crore.
• Under the first phase, twin tunnels spanning 18.8 kilometres and feeder canals covering 21.8 kilometres have been completed.
• The Nallamala Sagar Reservoir will store 10.70 TMC of Krishna River water under the first phase.
• The project is expected to provide irrigation facilities to 1.19 lakh acres and drinking water to approximately 4 lakh people.
• The government provided ₹768 crore as compensation to 6,206 displaced families within 48 days.
• Markapuram has been included in the proposed ₹1 lakh crore Global Horticulture Hub project, which is scheduled to be taken up in September 2026.
• The second phase of the Veligonda Project is planned to be completed by 2028.

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

Union Government’s Monthly Accounts for July 2026 Released for Financial Year 2026–27

• The Monthly Accounts of the Union Government of India up to July 2026 were consolidated and published by the Controller General of Accounts.
• The Government of India received ₹13,06,709 crore during the period up to July 2026, equivalent to 35.8% of the corresponding Budget Estimates for Financial Year 2026–27.
• The total receipts comprised:
• ₹8,44,560 crore – Tax Revenue (Net to Centre)
• ₹4,23,013 crore – Non-Tax Revenue
• ₹39,136 crore – Non-Debt Capital Receipts

Key Highlights

• The Government of India transferred ₹3,72,354 crore to State Governments as devolution of the share of taxes, which was ₹56,190 crore lower than the corresponding period of the previous year.
• The total expenditure stood at ₹17,61,853 crore, representing 32.9% of the corresponding Budget Estimates for Financial Year 2026–27.
• Of the total expenditure, ₹13,11,218 crore was incurred under the Revenue Account, while ₹4,50,635 crore was incurred under the Capital Account.
• Out of the total Revenue Expenditure, ₹4,26,566 crore was spent on Interest Payments and ₹1,53,513 crore on Major Subsidies.

CURRENT AFFAIRS: AWARDS AND HONOURS

Tenzing Norgay National Adventure Awards 2024 Announced

• The Government of India announced the Tenzing Norgay National Adventure Awards for 2024 to recognise outstanding achievements in the field of adventure.

Key Highlights

• The awards aim to promote courage, endurance, discipline, risk-taking, teamwork and quick decision-making in challenging situations.
• The awards are presented in four categories:
• Land Adventure: Baljeet Kaur and Skalzang Rigzin
• Water Adventure: Rimo Saha
• Air Adventure: No awardee announced
• Lifetime Achievement: Shiv Prasad Chamoli
• Each awardee will receive a statuette, certificate and ₹15 lakh prize money.
• The awardees were selected based on the recommendations of the National Selection Committee, which evaluated the nominations and recommended the recipients.
• President Droupadi Murmu will confer the Tenzing Norgay National Adventure Awards 2024 along with the National Sports Awards 2025.
• The date of the award ceremony will be announced later.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reserve Bank of India Names Suman Ray as Executive Director

• The Reserve Bank of India (RBI) appointed Suman Ray as Executive Director (ED) with effect from 1 September 2026.
• Before his appointment as Executive Director, Suman Ray was serving as Regional Director, Maharashtra at the RBI.
• Suman Ray is a career central banker with over 30 years of experience in the Reserve Bank of India.
• His professional experience includes Currency Management, Financial Inclusion, Payment and Settlement Systems, Consumer Education and Protection, and Human Resources (HR).
• He also served as Secretary to the Western Area Local Board of the RBI.
• As Executive Director, Suman Ray will oversee the Department of Deposit Insurance and Credit Guarantee Corporation (DICGC) and the Premises Department.
• The Deposit Insurance and Credit Guarantee Corporation (DICGC) is the department that will come under Suman Ray’s responsibility in his new role.

About RBI : 

• Established : 1 April 1935 under the Reserve Bank of India Act, 1934.
• Headquarters : Mumbai, Maharashtra,
• Governor : Sanjay Malhotra

Ram Temple Trust Appoints Air Marshal Jeetendra Mishra (Retd.) as Its First Chief Executive Officer

• The Shri Ram Janmabhoomi Teerth Kshetra Trust appointed Air Marshal Jeetendra Mishra (Retd.) as its first Chief Executive Officer (CEO) on 2 September 2026, creating a dedicated executive position to strengthen the Trust’s administration.
• Air Marshal Jeetendra Mishra served in the Indian Air Force (IAF) for 31 years and held various leadership positions across different departments.
• He previously headed the IAF’s Western Air Command and was associated with Operation Sindoor.
• Air Marshal Jeetendra Mishra was awarded the Sarvottam Yudh Seva Medal (SYSM), one of India’s highest military decorations for distinguished service during wartime.
• He was selected as the Trust’s CEO from three shortlisted candidates after the selection committee scrutinised approximately 5,585 applications and conducted interviews with hundreds of candidates over nearly two months.
• The Trust plans to prepare a Standard Operating Procedure (SOP) defining the duties and responsibilities of the CEO to improve coordination and management of its large-scale activities.
• The Trust also appointed Swami Govind Dev Giri as its General Secretary and Mahesh Bhagchandka as its Treasurer.
• Three new trustees were inducted into the Trust: Mahesh Bhagchandka, Madan Mohan Pandey, and Dr Nirmala Yadav.
• Madan Mohan Pandey, an advocate from Ayodhya, had represented Ram Lalla Virajman in the Ram Janmabhoomi case.
• Dr Nirmala Yadav, a retired college principal and academician from Shikohabad, became the first woman trustee of the Shri Ram Janmabhoomi Teerth Kshetra Trust.
• Mahesh Bhagchandka, associated with the Ashok Singhla Foundation, was appointed as the new Treasurer.
• The three trustee vacancies arose following the resignations of VHP leader Champat Rai and trustee Anil Mishra in July, and the death of trustee Vimlendra Pratap Mishra.
• The Trust approved its annual accounts for FY2025–26, recording total income of about ₹237 crore and expenditure of about ₹99 crore.
• The Trust incurred approximately ₹425 crore in capital expenditure on construction and related works during FY2025–26.
• As of 31 March 2026, the Trust had total funds of approximately ₹1,882 crore.

Vodafone Idea Appoints Shah Rukh Khan as Brand Ambassador and Launches New Logo

• Vodafone Idea (Vi), India’s third-largest telecom services provider, onboarded Shah Rukh Khan as its brand ambassador and unveiled a refreshed brand identity.
• The brand revamp marks a new phase of growth for Vi and reflects the company’s focus on transformation and innovation.
• Vi launched a new campaign titled “Vi badal raha hai… tayaar rahiye”, meaning “Vi is changing… Be ready”, to highlight its transformation strategy.
• The company redesigned its logo from “V!” to “Vi”, incorporating a dynamic 3D sphere element symbolising evolution and innovation.
• The refreshed identity reflects Vi’s transition towards a more customer-centric and technology-driven approach.
• The brand revamp is aligned with Vi’s “Vi 2.0” strategy, which focuses on customer growth, revenue expansion, and improved financial performance.

About Vodafone Idea (Vi) :

• Established : 2018
• Headquarters : Gandhinagar, Gujarat.
• Chief Executive Officer (CEO) : Abhijit Kishore
• Vi added more than 4 lakh customers in July 2026, marking its highest monthly customer gain in two years and indicating continued growth momentum.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Holds PNG Transition Webinar 2026 to Speed Up Piped Natural Gas Adoption

• The Indian Army organised the PNG Transition Webinar-2026 at the Manekshaw Centre, Delhi Cantt., to accelerate the adoption of Piped Natural Gas (PNG) across feasible Army establishments.
• The initiative supports the Government of India’s vision of a gas-based economy and promotes the use of cleaner energy in Army establishments.
• As part of the initiative, the Indian Army plans to convert 41 Army Stations to PNG during FY 2026–27.
• After the initial phase, the PNG transition will be expanded to other Army establishments where infrastructure and other conditions make PNG adoption feasible.
• During the webinar, the Indian Army PNG Guide was released as a common reference document for the PNG transition process.
• The Indian Army PNG Guide covers administrative, technical, safety and implementation requirements, ensuring a structured, standardised and coordinated approach across Army establishments.
• The webinar brought together stakeholders from the Indian Army, Government agencies, Petroleum and Natural Gas Regulatory Board (PNGRB), Defence Estates Organisation, Military Engineer Services (MES) and City Gas Distribution (CGD) entities.
• Discussions during the webinar focused on policy, regulatory, statutory, land, works, technical, safety, accounting and reimbursement aspects related to the PNG transition.
• The sessions also covered CGD readiness, station-level implementation experiences and safety requirements for the adoption of PNG.
• The webinar concluded with the Indian Army’s commitment to achieving a safe, efficient and sustainable transition to PNG across feasible Army establishments.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Russia Conducts 6,700 km Test Launch of RS-24 Yars Mobile ICBM

• Russia successfully conducted a test launch of the RS-24 Yars Intercontinental Ballistic Missile (ICBM) from the Plesetsk Cosmodrome in Arkhangelsk Oblast, Russia.
• The RS-24 Yars travelled over 6,700 km and delivered training warheads to the Kura Test Range in Russia’s Kamchatka region.
• The RS-24 Yars is a solid-fuel, three-stage, nuclear-capable ICBM designed to strengthen Russia’s land-based strategic nuclear forces.
• The missile is deployed in both road-mobile launchers and silo-based configurations, providing flexibility and enhancing survivability.
• The launch was conducted by Russia’s Strategic Missile Forces (SMF) as part of an exercise to validate the missile system’s tactical, technical and flight-performance characteristics.
• The RS-24 Yars is equipped with Multiple Independently Targetable Re-entry Vehicles (MIRVs), allowing it to deploy multiple warheads against different targets.
• The missile has a strike range exceeding 10,000 km, while the tested missile travelled more than 6,700 km to the designated test range.
• The mobile launch capability of the RS-24 Yars improves its survivability and strengthens Russia’s strategic deterrence.
• The RS-24 Yars is intended to replace older missile systems such as the RS-12M Topol, providing Russia with an enhanced nuclear deterrence capability.

About Russia :

• President : Vladimir Putin
• Prime Minister : Mikhail Mishustin
• Capital : Moscow
• Currency : Russian ruble

Agnikawach Introduces ‘Agni Kawach’, India’s First Indigenous AI-Powered Industrial Safety Platform

• Agnikawach Safety Solutions Private Limited launched ‘Agni Kawach’, India’s first indigenously developed AI-powered safety platform, aimed at building a global industrial safety ecosystem.
• Agni Kawach integrates Artificial Intelligence (AI), GPU-native computing, adaptive-mesh Computational Fluid Dynamics (CFD), cloud delivery, and risk modelling on a single platform for faster industrial risk analysis.
• The platform provides safety against 8 major industrial hazards, namely jet fire, pool fire, flash fire, explosions, BLEVE/fireball, toxic dispersion, cryogenic releases, and structural domino effects.
• BLEVE stands for Boiling Liquid Expanding Vapor Explosion, which is one of the major industrial hazards addressed by the Agni Kawach
• The prototype of Agni Kawach has already achieved Technology Readiness Level (TRL)-5, indicating that the technology has reached a relevant validation stage.
• The AI-enabled platform can be applied across hazardous industries such as Green Hydrogen, Ammonia, Oil & Gas, Liquefied Natural Gas (LNG), Chemicals, and Refineries.
• Agnikawach Safety Solutions Pvt. Ltd. was incorporated in June 2026 and is headquartered in New Delhi, Delhi.

Adani Energy Solutions Secures Top Global Utilities ESG Ranking from S&P Global

• Adani Energy Solutions Limited (AESL) achieved the highest ESG score of 90 globally in the utilities sector, according to S&P Global’s Media and Stakeholder Analysis review.
• AESL’s ESG score of 90 was significantly higher than the industry average of 41, highlighting its strong performance in sustainability and corporate responsibility.
• AESL’s ESG score improved from 81 to 90 following governance-related assessment corrections, reflecting stronger transparency, compliance, and stakeholder engagement.
• The company’s Corporate Sustainability Assessment (CSA) score increased by 17 points year-on-year to 90, indicating improved disclosure practices and sustainability reporting.
• AESL recorded an Environmental score of 93, a Social score of 89, and a Governance & Economic score of 84, all significantly above the respective industry averages.
• Key factors supporting AESL’s ESG performance included Product Stewardship, Climate Strategy, and Human Capital Management.
• Product Stewardship strengthened the company’s focus on responsible products and services, while Climate Strategy supported its environmental sustainability efforts.
• Human Capital Management contributed to stronger workforce development and employee-related practices.
• S&P Global assessed AESL’s ESG performance through its Media and Stakeholder Analysis review, while the Corporate Sustainability Assessment (CSA) score also reflected its sustainability performance.

About AESL :

• It is chaired by Gautam Adani and is headquartered in Ahmedabad, Gujarat.
• AESL was incorporated on 9 December 2013 as Adani Transmission Limited, following its demerger from Adani Enterprises in 2015, and was rebranded as Adani Energy Solutions Limited in July 2023.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Ministry of Statistics and Programme Implementation and Thapar Institute Sign Agreement for Predictive Framework on Monthly Consumption Expenditure

• The Ministry of Statistics and Programme Implementation signed a Memorandum of Understanding with Thapar Institute of Engineering and Technology, Punjab to undertake a research study on developing a Predictive and Analytical Framework for Monthly Consumption Expenditures in India.
• The agreement was signed in the presence of Dr. Saurabh Garg, Secretary, Ministry of Statistics and Programme Implementation.

Key Highlights

• Prof. Padmakumar Nair, Vice Chancellor of Thapar Institute of Engineering and Technology, and R. Rajesh, Additional Director General, Capacity Development Division, Ministry of Statistics and Programme Implementation, signed the agreement.
• The study will leverage Household Consumption Expenditure Survey data to:
• Estimate Monthly Per Capita Consumption Expenditure at the national and State levels.
• Analyse household consumption patterns.
• Generate evidence for poverty estimation.
• Support broader economic planning and policymaking.
• The collaboration represents an initiative to promote the innovative use of Artificial Intelligence in official statistics.
• The partnership also highlights growing collaboration between the Ministry of Statistics and Programme Implementation and academic institutions for research and data-driven policymaking.

Singapore Corporate Counsel Association and General Counsels’ Association of India Sign Memorandum of Understanding to Strengthen Legal Cooperation

• The Singapore Corporate Counsel Association and the General Counsels’ Association of India signed a Memorandum of Understanding to strengthen ties between the in-house legal communities of Singapore and India.
• The Memorandum of Understanding was signed at the “India-Singapore Legal Bridge: Enabling Growth, Investment and Effective Dispute Resolution in a Changing Global Economy” event, held on the sidelines of Singapore Convention Week.
• The event brought together legal and business leaders to discuss the India–Singapore–Association of Southeast Asian Nations investment landscape and the role of the legal profession in supporting cross-border growth.

Key Highlights

• The partnership will focus on knowledge exchange, professional development and greater cross-border engagement between in-house legal professionals in both countries.
• A proposed cross-border immersion programme, jointly developed by the Singapore Corporate Counsel Association Academy and the General Counsels’ Association of India, will provide students with practical exposure to in-house legal practice.
• The programme will cover legal technology, artificial intelligence, negotiation and forensic investigations, with participation from experienced in-house legal professionals and industry experts.
• The two associations will explore ways to advance professional standards for in-house counsel and promote greater alignment of standards across jurisdictions.
• Daniel Choo, President of the Singapore Corporate Counsel Association, stated that the partnership would strengthen ties between the Singaporean and Indian in-house legal communities and help lawyers adapt to changes in technology, regulation and new business models.
• Sanjeev Gemawat, Co-founder of the General Counsels’ Association of India, described the Memorandum of Understanding as a “historic beginning” for closer cooperation between the legal communities of India, Singapore and the wider region.
• Akhil Prasad, Co-founder of the General Counsels’ Association of India, highlighted the importance of equipping young lawyers with skills in artificial intelligence, negotiation, investigations and complex commercial problem-solving.
• The Memorandum of Understanding will serve as the basis for a long-term partnership between the two associations, with further initiatives to be announced later.

CURRENT AFFAIRS: SPORTS NEWS

India to Host Inaugural Women’s Champions Trophy 2027

• The International Cricket Council has shifted the inaugural Women’s Champions Trophy 2027 from Sri Lanka to India due to governance-related issues in Sri Lanka.
• The tournament will be held in Mumbai and Vadodara from 14 February to 28 February 2027.

Key Highlights

• Six teams have qualified for the inaugural tournament:
• Australia
• England
• India
• New Zealand
• South Africa
• Sri Lanka
• Qualification was based on the International Cricket Council Women’s Twenty20 International Team Rankings as of the 6 July 2026 qualification cut-off date.
• The tournament will follow a round-robin league format, with the top two teams qualifying for the final on 28 February 2027.
• International Cricket Council Chairman Jay Shah stated that the inaugural tournament will provide a high-quality global platform for women’s cricket and encourage teams to improve their rankings.
• India previously hosted the Women’s One Day International World Cup in 2025, where the Indian women’s team won the title.

CURRENT AFFAIRS: IMPORTANT DAYS

Skyscraper Day Observed on September 3

• Skyscraper Day is observed annually on September 3,2026 to recognise the architectural and engineering achievements associated with skyscrapers and tall buildings.
• The day is observed on the birth anniversary of Louis H. Sullivan, who is widely known as the “Father of Modern Skyscrapers.”
• Louis H. Sullivan was an influential American architect who played a major role in the development of modern skyscraper architecture.
• The Home Insurance Building in Chicago, United States, was completed in 1885 and is widely regarded as the world’s first skyscraper.
• The building had 10 storeys and reached a height of approximately 138 feet.
• The Home Insurance Building was significant for its use of a steel-frame structural system, which helped establish the foundation for modern skyscraper construction.
• The term “skyscraper” came into use during the 19th century and was initially used to describe buildings that were exceptionally tall, including structures exceeding 10 storeys.
• During the mid-19th century, tall buildings were constructed in cities such as New York, St. Louis, Pittsburgh and Detroit.

Daily CA One- Liner: September 4, 2026

• Tamil Nadu Industries Minister S. Keerthana introduced the Tamil Nadu Business Facilitation (Amendment) Bill, 2026 in the State Assembly
• Kerala Chief Minister V. D. Satheesan announced the establishment of a Coconut Park in Kerala with the support of the Coconut Development Board
• Tamil Nadu Chief Minister C. Joseph Vijay announced the establishment of a world-class Tamil Nadu Olympic City in Chennai under Rule 110 of the Tamil Nadu Legislative Assembly
• The Archaeological Survey of India has notified the Gollala Gudi Temple at Palampet in Mulugu district, Telangana, as a Monument of National Importance
• India has finalised its first national minimum standards for mortuary and post-mortem infrastructure to bring uniformity in facilities across the country
• Andhra Pradesh Chief Minister N. Chandrababu Naidu inaugurated the first phase of the Veligonda Irrigation Project and dedicated it to the nation
• The Monthly Accounts of the Union Government of India up to July 2026 were consolidated and published by the Controller General of Accounts.
• The Government of India announced the Tenzing Norgay National Adventure Awards for 2024 to recognise outstanding achievements in the field of adventure
• The Ministry of Statistics and Programme Implementation signed a Memorandum of Understanding with Thapar Institute of Engineering and Technology, Punjab to undertake a research study on developing a Predictive and Analytical Framework for Monthly Consumption Expenditures in India
• The Singapore Corporate Counsel Association and the General Counsels’ Association of India signed a Memorandum of Understanding to strengthen ties between the in-house legal communities of Singapore and India
• The International Cricket Council has shifted the inaugural Women’s Champions Trophy 2027 from Sri Lanka to India due to governance-related issues in Sri Lanka
• Skyscraper Day is observed annually on September 3,2026 to recognise the architectural and engineering achievements associated with skyscrapers and tall buildings.
• The Reserve Bank of India (RBI) amended the investment norms for Urban Co-operative Banks (UCBs) on 2 September 2026, allowing them to acquire equity shares of the Indian Digital Payment Intelligence Corporation (IDPIC).
• India’s Current Account Deficit (CAD) widened to USD 4.2 billion, or 5% of GDP, in Q1 FY2026–27 (April–June 2026), compared with USD 3.4 billion, or 0.4% of GDP, in Q1 FY2025–26.
• India’s Gross Goods and Services Tax (GST) collections increased by 8% year-on-year to ₹1,99,853 crore (nearly ₹2 lakh crore) in August 2026, according to official data released on 1 September 2026.
• Life Insurance Corporation of India (LIC) launched two new non-linked, non-participating insurance plans—LIC Bima Platinum (Plan 770) and LIC Jeevan Raksha (Plan 894)—to mark its 70th anniversary.
• According to data released by the National Payments Corporation of India (NPCI), Unified Payments Interface (UPI) transactions reached a record 51 billion in August 2026.
• The Ministry of Statistics and Programme Implementation (MoSPI) released India’s trial Index of Services Production (ISP) covering 19 sub-sectors, with 2024–25 as the base year.
• Japan Credit Rating Agency (JCR) upgraded India’s Long-Term Foreign Currency and Local Currency Issuer Ratings by one notch, from ‘BBB+’ to ‘A-’.
• InsuranceDekho (Girnar Insurance Brokers Private Limited) and RenewBuy (D2c Insurance Broking Private Limited) have merged to create India’s largest AI-enabled insurance distribution platform, based on Point of Sales Person (PoSP)-driven premium generated in FY 2025–26.
• The International Financial Services Centres Authority (IFSCA) highlighted the growing role of GIFT City IFSC in India’s foreign currency mobilisation and external financing requirements.
• The Ministry of Statistics and Programme Implementation (MoSPI) released the National Accounts Statistics (NAS) – 2026 publication, adopting 2022–23 as the base year for national account estimates.
• India’s fiscal deficit stood at ₹4,55,144 crore, or 8% of the full-year target, during April–July 2026 (first four months of FY2026–27).
• Punjab National Bank (PNB) entered into a Memorandum of Understanding (MoU) with Oriental Insurance Company Limited (OICL) to provide Salary Package Benefits to OICL employees.
• According to the Ministry of Commerce and Industry, India’s total exports of merchandise and services increased by 31% year-on-year (YoY) to USD 80.14 billion in July 2026, compared with USD 70.72 billion in July 2025.
• The Reserve Bank of India (RBI) appointed Suman Ray as Executive Director (ED) with effect from 1 September 2026.
• The Shri Ram Janmabhoomi Teerth Kshetra Trust appointed Air Marshal Jeetendra Mishra (Retd.) as its first Chief Executive Officer (CEO) on 2 September 2026, creating a dedicated executive position to strengthen the Trust’s administration.
• Vodafone Idea (Vi), India’s third-largest telecom services provider, onboarded Shah Rukh Khan as its brand ambassador and unveiled a refreshed brand identity.
• The Indian Army organised the PNG Transition Webinar-2026 at the Manekshaw Centre, Delhi Cantt., to accelerate the adoption of Piped Natural Gas (PNG) across feasible Army establishments.
• Russia successfully conducted a test launch of the RS-24 Yars Intercontinental Ballistic Missile (ICBM) from the Plesetsk Cosmodrome in Arkhangelsk Oblast, Russia.
• Agnikawach Safety Solutions Private Limited launched ‘Agni Kawach’, India’s first indigenously developed AI-powered safety platform, aimed at building a global industrial safety ecosystem.
• Adani Energy Solutions Limited (AESL) achieved the highest ESG score of 90 globally in the utilities sector, according to S&P Global’s Media and Stakeholder Analysis review.