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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Reports 24% Rise in Mutual Funds’ Overseas Assets, Lowering Net Foreign Liabilities

• The Reserve Bank of India (RBI) released the results of its 2025–26 Survey of Foreign Liabilities and Assets of Mutual Funds, covering 53 Indian Mutual Funds and their Asset Management Companies (AMCs).
• The foreign liabilities of Indian Mutual Funds increased by 3.3% year-on-year (YoY) to US$31.5 billion as of end-March 2026, mainly due to an increase in the market value of mutual fund units held by non-resident investors.
• The foreign assets of Indian Mutual Funds increased by 23.9% to US$10.2 billion, driven primarily by higher investments in foreign equity securities.
• As a result of the stronger growth in overseas assets, the net foreign liabilities of Mutual Funds declined to US$21.3 billion in March 2026 from US$22.3 billion a year earlier.
• The UAE, USA, UK and Singapore were the top sources of investments in Indian mutual fund units by non-resident investors, together accounting for around 50% of the total holdings in terms of both face value and market value.
• The UAE was the largest contributor, with non-resident investments in Indian mutual funds valued at approximately ₹61,299 crore at market value, followed by the USA (₹35,502 crore) and the UK (₹28,886 crore).
• Indian Mutual Funds increased their overseas equity investments by 37.5% to ₹93,602 crore during 2025–26, highlighting their growing global diversification.
• The USA accounted for nearly two-thirds of Indian Mutual Funds’ overseas equity holdings, followed by Luxembourg and Ireland, indicating a preference for developed global markets.
• The foreign liabilities of AMCs increased by 18.1% to US$8.7 billion, reflecting higher inward direct and portfolio investments.
• Foreign Direct Investment (FDI) in AMCs increased by 31.1% to ₹56,201 crore as of March 2026.
• Japan was the largest contributor to FDI in Indian AMCs, with investments of ₹36,920 crore, accounting for 65.7% of total FDI, followed by Canada (13.5%) and Mauritius (5.9%).
• Japan and Canada together accounted for around 80% of total FDI in India’s Asset Management Company sector.

Axis Bank and Scapia Introduce Travel-Focused ‘Scapia Axis Bank Credit Card’

• Axis Bank Limited, one of India’s largest private-sector banks, partnered with Scapia, a leading Indian travel fintech, to launch the co-branded ‘Scapia Axis Bank Credit Card’.
• The Scapia Axis Bank Credit Card is designed for digitally native and travel-focused consumers, particularly young travellers, by integrating spending, rewards and travel bookings through the Scapia app.
• The credit card is available on both Mastercard and RuPay networks, providing flexibility for domestic and international transactions.
• The card offers zero joining fee and zero annual fee, making it a lifetime-free credit card.
• The card provides zero forex mark-up on international transactions and includes a Smart Forex feature for overseas spending.
• Cardholders can receive unlimited domestic airport lounge access along with dining, shopping or spa benefits after spending ₹20,000 in the preceding month.
• The card also provides a 1% fuel surcharge waiver on eligible fuel purchases.
• The Mastercard variant offers 10% rewards on eligible spends of ₹500 or more, while the RuPay variant offers 5% rewards on eligible spends of ₹500 or more.
• Both Mastercard and RuPay variants provide 20% rewards on eligible bookings made through the Scapia app.

About Scapia : 

• Incorporated : 2022
• Headquarters : Bengaluru, Karnataka.
• Founder and Chief Executive Officer (CEO) : Anil Goteti

Government Approves Emergency Credit Line Guarantee Scheme 5.0 to Support Businesses Amid Economic Disruptions

• The Government of India approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 on 5 May 2026 to support businesses facing geopolitical disruptions, supply-chain challenges, higher logistics costs and liquidity pressures.
• ECLGS 5.0 is implemented by the National Credit Guarantee Trustee Company (NCGTC) and provides government-backed credit guarantees to Member Lending Institutions (MLIs) for extending additional working capital to eligible borrowers.
• The scheme aims to facilitate additional credit flow of up to ₹2.55 lakh crore and supports uninterrupted domestic production, resilient supply chains, employment and economic activity.

Key Highlights :

• The ECLGS was originally launched in 2020 under the Aatmanirbhar Bharat Package to help businesses overcome financial stress caused by the COVID-19 pandemic.
• ECLGS 1.0 covered MSMEs, business enterprises, Mudra borrowers and individual business loans, with eligible borrowers having outstanding loans of up to ₹50 crore and up to 60 days past due as on 29 February 2020.
• ECLGS 2.0 expanded coverage to 26 stressed sectors identified by the Kamath Committee and the healthcare sector, covering borrowers with outstanding loans above ₹50 crore and up to ₹500 crore and up to 60 days past due.
• ECLGS 3.0 extended support to the hospitality, travel & tourism, leisure & sporting and civil aviation sectors, with eligible borrowers having up to 60 days past due as on 29 February 2020.
• ECLGS 4.0 focused on strengthening healthcare infrastructure and covered hospitals, nursing homes, clinics, medical colleges and manufacturers of liquid oxygen and oxygen cylinders, with up to 90 days past due as on 31 March 2021.
• From ECLGS 1.0 to 4.0, a total of 19 crore guarantees amounting to ₹3.68 lakh crore were issued, and these schemes concluded on 31 March 2023.
• ECLGS 5.0 will remain operational until 31 March 2027 or until guarantees worth ₹2.55 lakh crore are issued, whichever is earlier.
• The scheme covers MSMEs, eligible non-MSME business borrowers and scheduled passenger airline companies, subject to eligibility conditions prescribed by NCGTC.
• Credit assistance under ECLGS 5.0 is provided through Scheduled Commercial Banks, Scheduled Urban Co-operative Banks, Financial Institutions and eligible NBFCs.
• For MSMEs and eligible non-MSMEs, borrowers must have existing working capital facilities from MLIs as on 31 March 2026, with loan repayments not overdue by more than 60 days.
• Borrowers that have already received additional credit under the Credit Guarantee Scheme for Exporters (CGSE) are not eligible for ECLGS 5.0 assistance up to the amount already availed under CGSE.
• MSMEs across all sectors are eligible, while certain sectors are excluded for non-MSME borrowers, including NBFCs, power, telecom, sugar and ethanol, IT companies, paper and paper products, educational institutions, beverages excluding tea and coffee, and tobacco.
• Where a borrower operates in both eligible and ineligible sectors, eligibility is determined based on the proportion of turnover generated from eligible sectors during FY 2025–26.
• Credit guarantee coverage is 100% for eligible MSMEs and 90% for eligible non-MSMEs, and no guarantee fee is payable by MLIs.
• Member Lending Institutions (MLIs) include public and private sector banks, small finance banks, foreign banks, co-operative banks, regional rural banks, NBFCs and financial institutions.
• ECLGS 5.0 provides additional credit of up to 20% of the peak fund-based working capital outstanding during Q4 of FY 2025–26, subject to a maximum of ₹100 crore per borrower.
• For MSMEs, the interest rate is linked to EBLR, while eligible non-MSMEs are charged based on MCLR; MLIs may charge up to 0.75% above the benchmark, subject to an overall ceiling of 9% per annum.
• For loans extended by eligible NBFCs, the interest rate cannot exceed 13% per annum.
• EBLR (External Benchmark Lending Rate) is a benchmark used by banks to determine floating interest rates on eligible retail and micro & small enterprise loans, while MCLR (Marginal Cost of Funds-Based Lending Rate) is an internal reference rate used by banks.
• The loan under the MSME and non-MSME component has a 5-year tenure, including a 1-year moratorium from the date of first disbursement.
• Scheduled passenger airlines are eligible if they had outstanding fund-based and non-fund-based credit facilities from MLIs as on 31 March 2026, classified as Standard excluding SMA-2.
• Eligible scheduled passenger airlines receive 90% credit guarantee coverage, with no guarantee fee payable by MLIs.
• Airlines can receive additional credit of up to 100%, subject to a ceiling of ₹1,500 crore per borrower; any amount above ₹1,000 crore and up to ₹1,500 crore requires a proportionate equity contribution from promoters/owners.
• The interest rate for scheduled passenger airlines will be determined by the lending institution according to its Board-approved policy.
• Airline loans have a 7-year tenure, including a 2-year moratorium from the date of first disbursement.
• As of 20 August 2026, ECLGS 5.0 had issued 6,73,979 guarantees, with the guaranteed amount reaching ₹2,50,024 crore.
• MSMEs accounted for 97.3% of guarantees by number and 80.79% of the total guaranteed amount, demonstrating their dominant share under ECLGS 5.0.
• Eligible borrowers can access ECLGS 5.0 through the Jan Samarth Portal, which serves as the digital platform for accessing the scheme.
• Phase 1 outreach campaigns were conducted across 9 locations between 20 May and 6 June 2026 through State Level Bankers’ Committees (SLBCs), with participation from NCGTC, PSB Alliance, banks, industry associations and enterprises.
• Phase 2 outreach is continuing across 10 additional locations, of which 4 locations have already been completed, to improve awareness and reach among eligible borrowers.
• ECLGS 5.0 strengthens access to institutional credit, helping enterprises continue operations, preserve employment, maintain supply chains and sustain economic growth during periods of global uncertainty.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Lok Sabha Secretariat Constitutes 31-Member Joint Parliamentary Committee to Examine Foreign Contribution Regulation Amendment Bill 2026

• The Lok Sabha Secretariat constituted a 31-member Joint Parliamentary Committee (JPC) to examine the Foreign Contribution (Regulation) Amendment Bill, 2026.
• BJP MP Sanjay Jaiswal has been appointed as the Chairperson of the committee.
• The JPC comprises 21 Lok Sabha members and 10 Rajya Sabha members and has been directed to submit its report to the Lok Sabha by the last day of the first week of the Winter Session of Parliament.

Key Highlights

• The Bill was introduced in the Lok Sabha on 25 March 2026, while both Houses approved its referral to a JPC on 12 August 2026.
• The Bill seeks to amend the Foreign Contribution (Regulation) Act, 2010 (FCRA) and strengthen regulatory oversight, transparency and accountability in the receipt and utilisation of foreign contributions.
• The Bharatiya Janata Party (BJP) has the largest representation with 14 members, while the Indian National Congress has 5 members.
• The Trinamool Congress (TMC) and Dravida Munnetra Kazhagam (DMK) have 2 members each.
• The Janata Dal (United) (JD(U)) also has 2 members, while the Samajwadi Party (SP), Nationalist Congress Party – Sharadchandra Pawar (NCP-SP), Indian Union Muslim League (IUML), Telugu Desam Party (TDP), Shiv Sena and Nationalist Congress Party (NCP) have representation on the panel.
• The committee has 19 members from the BJP-led National Democratic Alliance (NDA) and 12 members from opposition parties.
• Key Lok Sabha members include Sanjay Jaiswal, Bhartruhari Mahtab, Tejasvi Surya, Nishikant Dubey, A. Raja and Supriya Sule, while prominent Rajya Sabha members include Harsh Vardhan Shringla, Menaka Guruswamy, P. Wilson and Praful Patel.
• The JPC will examine provisions concerning the vesting, supervision, management and disposal of assets created from foreign contributions when an organisation’s FCRA registration is cancelled, surrendered or not renewed.
• The government has stated that the proposed asset-related provisions are intended to ensure proper oversight and accountability of assets acquired through foreign contributions.
• Opposition parties and several church and civil-society organisations have raised concerns regarding the extent of executive powers proposed under the Bill.
• The government has rejected allegations that the Bill targets minorities and has maintained that the proposed amendments are aimed at improving transparency, accountability and regulation of foreign contributions.
• The JPC includes four members with legal backgrounds: Ujjwal Deorao Nikam, Kalyan Banerjee, Menaka Guruswamy and P. Wilson.
• A Joint Parliamentary Committee is a temporary committee comprising members of both Houses of Parliament, constituted to conduct detailed examination of a specific Bill, issue or matter and submit its recommendations to Parliament.

Punjab Launches ‘Pehchaan’ Digital Portal to Identify Unidentified and Unclaimed Deceased Persons

• Punjab Government launched ‘Pehchaan’, a statewide digital public identification portal to help identify unidentified and unclaimed deceased persons kept in government mortuaries.

Key Highlights

• Punjab has become the first State in India to launch such a statewide public identification portal.
• The portal will enable relatives living in India and abroad to search for and identify missing family members who died in accidents or other circumstances.
• Details of every unidentified and unclaimed deceased person, including facial photographs, permanent identification marks, tattoos, birthmarks, deformities and physical descriptions, will be uploaded within 48 hours of postmortem examination.
• The portal is connected across all 23 districts and 346 government hospitals in Punjab and is publicly accessible and free of charge through the official websites of the State Health Department.
• After an online claim is submitted, the concerned Investigating Officer of the Punjab Police will automatically receive a notification to initiate the identification process.
• Around 5,000–6,000 people reportedly die as unidentified and unclaimed persons in Punjab each year, highlighting the need for a digital identification mechanism.
• Pehchaan has been developed using the foundation of MedLEaPR, Punjab’s digital medico-legal documentation system developed by the National Informatics Centre (NIC).
• MedLEaPR connects police, courts, health institutions and forensic science laboratories for integrated digital management of medico-legal cases.
• The system is integrated with the Crime and Criminal Tracking Network & Systems (CCTNS) to facilitate matching of unidentified deceased persons with missing-person records.
• The initiative aims to improve transparency, speed and coordination in the identification and claim process and help families obtain closure.

About Punjab:

• Chief Minister: Bhagwant Singh Mann
• Governor: Gulab Chand Kataria
• Capital: Chandigarh
• National Parks: Abohar National Park, Harike Wetland National Park, Jhajjar Bacholi National Park, Bir Moti Bagh National Park, Bir Bhadson National Park
• Wildlife Sanctuaries: Abohar Wildlife Sanctuary, Harike Lake Wildlife Sanctuary, Kathlaur-Kushlian Wildlife Sanctuary, Nangal Wildlife Sanctuary, Jhajjar Bacholi Wildlife Sanctuary, Takhni-Rehampur Wildlife Sanctuary

RECENT NEWS

• Honorable Chief Minister of Punjab Bhagwant Mann have announced that the Anti-Sacrilege Bill 2026 has been passed by the state assembly and it was sent to the Governor of State Gulab Chand Kataria for assent of the bill.

Chhattisgarh Government Launches Tribal Incentives on Natural Resources Portal to Ensure Fair Price for Tin Ore Collected by Tribal Communities

• The Chhattisgarh Government launched the Tribal Incentives on Natural Resources (TIN) Portal to ensure fair and transparent pricing for tin ore collected by tribal communities in Bastar.
• The initiative aims to bring the entire tin procurement process — registration, quality testing, price determination and payment — under a single digital platform.
• The price of tin will be linked to the London Metal Exchange (LME) to ensure that payments reflect prevailing international market prices.
• Payments will be transferred directly to beneficiaries’ bank accounts through Direct Benefit Transfer (DBT), reducing the role of intermediaries and payment delays.
• The portal will use digital registration, QR-based verification, banking integration and SMS alerts to help collectors track the quantity purchased, price determined and payment status.

Key Highlights

• The Chhattisgarh Mineral Development Corporation Limited (CMDC) will be able to monitor procurement, stock and payments in real time.
• CMDC currently procures tin through 6 centres in the Bastar division.
• 3 additional collection and procurement centres are proposed in Bastar, Dantewada and Sukma to facilitate local procurement for collectors in remote areas.
• In 2024–25, CMDC purchased 8,707.2 kg of tin ore and paid around ₹90.82 lakh to tribal beneficiaries.
• In 2025–26, procurement increased to 20,895.335 kg, with payments rising to approximately ₹3.81 crore.
• Chief Minister Vishnu Deo Sai described the TIN Portal as a “Mineral-to-Livelihood” initiative, aimed at ensuring that the economic value generated from Bastar’s natural resources contributes directly to the income and livelihoods of tribal families.
• Chhattisgarh is the only Indian State with known tin ore deposits, with tin ore production concentrated in the Bastar region.

About Chhattisgarh:

• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati, Kanger Valley, Guru Ghasidas National Parks
• Wildlife Sanctuaries: Achanakmar, Barnawapara, Udanti Wild Buffalo, Sitanadi Wildlife Sanctuaries

RECENT NEWS

• To promote women’s empowerment, renewable energy, and rural entrepreneurship, the Chhattisgarh Government has launched the Decentralised Women Empowerment on Energy and Policy for Transformative Inclusion (DWEEPTI) Yojana in July 2026.

Ministry of Civil Aviation Launches Hub and Spoke International Flight Operations from Ahmedabad

• The Ministry of Civil Aviation launched Hub and Spoke International Flight Operations from Ahmedabad Airport, making it the third airport in India to be integrated into the framework after Varanasi and Amritsar.
• Varanasi: Hub and Spoke operations launched on 25 June 2026.
• Amritsar: Hub and Spoke operations launched on 28 July 2026.
• The initiative connects passengers from Indian international airports to global destinations through Delhi as the designated international hub.

Key Highlights

• From Ahmedabad, Air India flight AI 1117 will connect passengers to 22 international destinations, mainly across Europe, Southeast Asia and the Middle East.
• Air India flight AI 1121, departing Ahmedabad at 20:15 hours, will provide connectivity to 17 destinations across North America, East Asia, Southeast Asia, Australia and Europe.
• Under the model, passengers complete check-in, immigration and customs formalities at the originating spoke airport, with baggage checked through to the final international destination.
• At Delhi Airport, passengers can proceed to their onward international flight without repeating immigration or customs procedures.
• The initiative is part of the Government’s International Aviation Hub Strategy, which aims to make India a preferred aviation hub for Indian travellers by 2030 and a leading global aviation hub by 2047.
• Civil Aviation Minister Ram Mohan Naidu stated that around 1.6 crore passengers travelled from Ahmedabad to Delhi last year to board international flights.
• The improved connectivity is expected to benefit Gujarat’s major sectors, including textiles, pharmaceuticals, diamonds and gems, and engineering.
• The initiative is expected to benefit exporters, investors, tourists, students, handicraft artisans and the business community by improving access to global markets.
• According to Ministry estimates, aviation hub development could generate approximately 4 lakh direct and indirect jobs and add around USD 30 billion to India’s Gross Domestic Product (GDP) by 2030.
• By 2047, the cumulative impact could support approximately 1.6 crore direct and indirect jobs and contribute nearly USD 1.4 trillion to the economy.
• The Hub and Spoke framework is expected to be extended to 22 more airports in the current phase, including Surat in Gujarat.
• The model aims to improve international connectivity from Tier-II and Tier-III cities, passenger convenience, airport infrastructure utilisation and airline operational efficiency.

About Ministry of Civil Aviation:

• Cabinet Minister: Kinjarapu Rammohan Naidu
• Constituency: Srikakulam, Andhra Pradesh
• Ministers of State (MoS): Murlidhar Mohol

Centre Approves Establishment of National School of Drama Campus in Bihar with 50% Construction Cost Contribution from State Government

• The Central Government has approved the establishment of a National School of Drama (NSD) campus in Bihar to strengthen the state’s rich traditions in theatre and performing arts.
• Bihar Chief Minister Samrat Choudhary announced the development and thanked PM Narendra Modi and Union Minister for Culture and Tourism Gajendra Singh Shekhawat for the approval.

Key Highlights

• The Bihar Government will provide suitable land for the proposed campus and bear 50% of the approved construction cost.
• The campus will provide opportunities for professional training in acting, stagecraft, performing arts, theatre direction, design and theatre research.
• The new campus will complement the work of the Bihar Sangeet Natak Akademi, established by the state government for the preservation and promotion of theatre arts.
• The project is expected to promote cultural heritage, emerging artistic talent and modern theatre in Bihar.
• The Centre-State partnership is aimed at strengthening Bihar’s position on India’s national theatre and performing arts map.

About Bihar:

• Chief Minister: Samrat Choudhary
• Governor: Syed Ata Hasnain
• Capital: Patna
• National Parks: Valmiki National Park
• Wildlife Sanctuaries: Valmiki, Bhimbandh, Kaimur, Gautam Buddha Wildlife Sanctuaries

RECENT NEWS

• An MoU was signed between Bihar and Jharkhand on the sharing of Sone River water in the presence of Union Home Minister Amit Shah in New Delhi today. The agreement was signed in the presence of Jharkhand Chief Minister Hemant Soren, Bihar Chief Minister Samrat Choudhary, and Jal Shakti Minister C.R. Patil, among others.

CURRENT AFFAIRS : INTERNATIONAL NEWS

26th Shanghai Cooperation Organisation Summit Held in Bishkek, Kyrgyzstan from August 31 to September 1, 2026

• The 26th Meeting of the Council of Heads of State (CHS) of the Shanghai Cooperation Organisation (SCO) Summit was held from 31 August to 1 September 2026 at the Yrys-Ordo Congress Hall in Bishkek, Kyrgyzstan, marking the 25th anniversary of the SCO.
• The 2026 SCO Summit was chaired by Sadyr Japarov, President of Kyrgyzstan, under the motto “25 Years of the SCO: Together Towards Sustainable Peace, Development and Prosperity.”
• Prime Minister Narendra Modi represented India at the 26th SCO Summit held in Bishkek, Kyrgyz Republic.
• During the summit, PM Narendra Modi called for stronger cooperation among SCO members based on three key pillars: Security, Connectivity and Opportunity.
• PM Modi urged SCO countries to take concrete action against terrorism and stressed the need to combat the entire terror ecosystem without double standards.
• The SCO Plus Meeting was organised on the sidelines of the summit under the theme “The UN as a Key Element of a Just World Order: The Contribution of the SCO Plus States to the Formation of a Multipolar World.”
• At the conclusion of the summit, the SCO presidency for 2026–27 was handed over to Pakistan, which will lead the organisation under the theme “Turning Vision into Action: Connectivity, Innovation and Shared Prosperity.”
• Lahore, a city in Pakistan, was designated as the SCO Tourism and Cultural Capital for 2026–27.
• The summit concluded with the adoption of the Bishkek Declaration and approval of 28 documents, including 4 Memoranda of Understanding (MoUs) and more than 20 decisions and statements.
• The approved documents covered areas including climate change, nuclear safety, energy conservation, combating drug addiction, SCO Charter amendments and emergency assistance.
• Several India-led or India-supported initiatives were incorporated into the Bishkek Declaration, including recognising English as an official and working language of the SCO.
• The summit approved initiatives such as the SCO Young Scientists Forum, SCO Young Authors Conference/Conclave, SCO Civilisation Dialogue Forum, and regulations for the executive committee of the SCO Anti-Narcotics Centre.
• India will host the first SCO Civilisation Dialogue Forum later in 2026, an Indian initiative aimed at promoting civilisational exchanges among SCO member states.
• The SCO has 10 member countries: India, China, Russia, Pakistan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Iran and Belarus.
• India and Pakistan became full members of the SCO in 2017, Iran joined in 2023, and Belarus joined in 2024.
• PM Narendra Modi and other SCO leaders attended the opening ceremony of the 6th World Nomad Games in Bishkek, Kyrgyzstan.
• The 6th World Nomad Games were held from 31 August to 6 September 2026 in Kyrgyzstan, bringing together participants from around the world to showcase traditional sports, culture and the heritage of nomadic civilisations.

55th Pacific Islands Forum Leaders’ Meeting Held in Palau

• India reaffirmed its commitment to strengthening relations with Pacific Island countries at the 55th Pacific Islands Forum (PIF) Leaders’ Meeting held in Koror, Palau.
• India’s cooperation with the Pacific Island countries focuses on key areas such as climate resilience, healthcare, education, digital technology and disaster management.
• Pabitra Margherita, Minister of State for External Affairs, highlighted India’s Act East Policy, bilateral relations, Forum for India-Pacific Islands Cooperation (FIPIC) and India’s engagement with the Pacific Islands Forum.
• India considers the Pacific an integral part of the shared Indo-Pacific region and is seeking stronger cooperation with Pacific Island countries.
• India has been implementing demand-driven Quick Impact Projects (QIPs) across all 14 Pacific Island countries to support local development and community needs.
• At the 2024 PIF Summit in Tonga, India announced one Quick Impact Project for each of the 14 Pacific Island nations.
• The 55th Pacific Islands Forum Leaders’ Meeting was held in Koror, Palau, under the theme “Building Economies: Life. Action. Unity”.
• The meeting brought together Pacific Island countries and dialogue partners, with India advocating a stronger, more resilient and prosperous “Blue Pacific Continent.”
• The Pacific Islands Forum (PIF) comprises 18 members: Australia, Cook Islands, Federated States of Micronesia (FSM), Fiji, French Polynesia, Kiribati, Nauru, New Caledonia, New Zealand, Niue, Palau, Papua New Guinea (PNG), Marshall Islands, Samoa, Solomon Islands, Tonga, Tuvalu and Vanuatu.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ülle Madise Elected Estonia’s President for a Five-Year Term

• Ülle Madise, the Chancellor of Justice of Estonia, was elected as the President of Estonia through a secret ballot as the sole candidate for a 5-year term.
• Ülle Madise will assume office on 12 October 2026, succeeding Alar Karis, who did not seek a second term.
• She will become the second woman President of Estonia.
• In the Presidential Election, Ülle Madise secured 71 votes in the 101-member Riigikogu, Estonia’s parliament.
• She exceeded the required two-thirds majority of 68 votes needed for election.
• A total of 78 members of the Riigikogu participated in the voting, while 7 ballots were left unmarked.
• Ülle Madise’s candidature was proposed by 75 members of the Riigikogu, and she was the only candidate on the ballot.

About Estonia :

• Prime Minister : Kristen Michal
• Capital : Tallinn
• Currency : Euro

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

ICICI Bank Raises Stake in ICICI Prudential Life Insurance by 2% for ₹1,470 Crore

• ICICI Bank Limited acquired an additional 2% stake in its life insurance venture, ICICI Prudential Life Insurance Company Limited, for approximately ₹1,470 crore through the stock exchange mechanism.
• The acquisition involved 2,90,15,693 equity shares of ICICI Prudential Life, representing approximately 2% of its equity share capital as of 30 June 2026.
• The shares were purchased by ICICI Bank in multiple tranches between 22 July and 2 September 2026.
• Following the acquisition, ICICI Bank’s stake increased from around 9% to approximately 52.8% in ICICI Prudential Life Insurance.
• The shares were acquired from ICICI Bank’s UK-based joint venture partner, Prudential plc (Prudential Corporation Holdings Limited).
• Before the stake sale, Prudential plc held approximately 9% in ICICI Prudential Life Insurance, while ICICI Bank held approximately 50.9%.
• Prudential plc is required to reduce its stake in ICICI Prudential Life Insurance to below/around 10% due to regulatory requirements related to its proposed acquisition of 75% stake in Bharti Life Insurance.
• Prudential plc announced in May 2026 its plan to acquire a 75% stake in Bharti Life Insurance, which triggered the requirement to pare down its holding in ICICI Prudential Life Insurance.

About ICICI Prudential Life Insurance :

• It is a Joint Venture (JV) between ICICI Bank and Prudential Corporation Holdings Limited, which is based in the United Kingdom (UK).
• ICICI Prudential Life Insurance is headquartered in Mumbai, Maharashtra, commenced operations in December 2000, and is chaired by Sandeep Batra.

CURRENT AFFAIRS : DEFENCE NEWS

Kalyani Strategic Systems Limited and Thales Partner to Manufacture 70-mm Rocket Systems in India

• Kalyani Strategic Systems Limited (KSSL), a wholly-owned defence subsidiary of Bharat Forge Limited (BFL), signed a Strategic Alliance Agreement (SAA) with France-based Thales Group, a global defence major.
• The agreement aims to establish advanced industrial capability in India for the production of 70 mm rocket systems, including unguided and laser-guided variants of Thales’ combat-proven rockets.
• The Strategic Alliance Agreement was signed during the state visit of Belgian Prime Minister Bart De Wever to India, held from 2 to 4 September 2026.
• The partnership will combine Thales’ expertise in 70 mm rocket systems with KSSL’s local manufacturing and testing capabilities in India.
• The collaboration will support the production and integration of Thales components in India while ensuring compliance with global quality standards.
• The first fully assembled 70 mm rocket system manufactured in India is expected to be ready by early 2027.
• Thales’ 70 mm rocket systems can be used for counter-drone missions, providing scalable capabilities against evolving aerial threats.
• Thales’ 70 mm rocket solutions are currently used by approximately 70 armed forces across 55 countries.
• The rocket systems are designed for multi-role missions and multi-platform integration across air, land and maritime domains.
• The systems can be integrated with rotary-wing platforms, including India’s Advanced Light Helicopter (ALH-WSI) and Light Combat Helicopter (LCH).
• Thales’ 70 mm rocket systems are already in service with the Indian Armed Forces, including the Indian Air Force (IAF).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation Launches First Geosynchronous Imaging Satellite EOS-05 on GSLV-F17 from Sriharikota,Andhra Pradesh

• The Indian Space Research Organisation (ISRO) successfully launched the Earth observation satellite EOS-05 aboard the Geosynchronous Satellite Launch Vehicle (GSLV)-F17 rocket on 4 September 2026.
• The GSLV-F17 lifted off from the Second Launch Pad, Satish Dhawan Space Centre (SDSC), Sriharikota, Andhra Pradesh.

Key Highlights :

• EOS-05 is India’s first-ever imaging satellite designed to operate from a geosynchronous orbit, marking a major milestone in India’s Earth observation programme.
• The 2,367 kg EOS-05 was successfully placed into the Sub-Geosynchronous Transfer Orbit (Sub-GTO) approximately 18 minutes after launch.
• The achieved orbit had a perigee of 171 km, apogee of 31,260 km, and inclination of 19.28°, after which the satellite is planned to be raised to its final geosynchronous orbit of around 36,000 km.
• The 7-metre GSLV-F17 is a three-stage launch vehicle with a 420.5-tonne liftoff mass, featuring an S139 solid core, L40H liquid strap-ons, a liquid second stage, and an indigenous cryogenic upper stage.
• The mission marked the 19th flight of the GSLV and the 107th launch from the Sriharikota spaceport.
• EOS-05 is a state-of-the-art Earth observation satellite capable of continuous large-area monitoring using visible, infrared, multispectral and hyperspectral imaging.
• The satellite is expected to provide real-time imagery and strengthen applications in areas such as agriculture, disaster management and strategic Earth observation.
• The successful mission provided a major boost to ISRO after the PSLV-C62/EOS-N1 mission failed on 12 January 2026, marking ISRO’s return to successful launches after the subsequent cautious pause.
• ISRO had also experienced the failure of the PSLV-C61 mission on 18 May 2025 and the GSLV-F10/EOS-03 mission in August 2021, when the cryogenic upper-stage ignition failed due to a technical anomaly.
• The EOS-05 mission therefore marks an important recovery milestone for ISRO and demonstrates continued progress in heavy-lift launch technology and indigenous space capabilities.
• The mission is significant for Aatmanirbhar Bharat in space technology, as the indigenous cryogenic upper stage of the GSLV demonstrates India’s capability in advanced launch-vehicle technology.

National Institute of Electronics and Information Technology and Intel India Introduce Agentic AI Skilling Initiative in New Delhi

• The National Institute of Electronics and Information Technology (NIELIT), under the Ministry of Electronics and Information Technology (MeitY), collaborated with Intel India to organise a National Leadership Dialogue at the India Habitat Centre, New Delhi.
• The initiative launched Agentic AI Skilling Programmes aimed at building a future-ready workforce equipped with advanced Artificial Intelligence (AI)
• The event focused on the impact of AI on jobs and education and the transition towards Agentic AI systems capable of reasoning, planning and execution.
• Two key programmes were introduced: “Agentic AI for Everyone”, which focuses on AI agents and automation through no-code platforms, and “Engineering Agentic AI Systems”, which focuses on designing and deploying AI systems using low-code and code-based frameworks.
• The initiative emphasises industry-aligned learning and stronger Government–academia–industry collaboration to develop a skilled and future-ready AI workforce.
• The National Leadership Dialogue was attended by Shashi Shekhar Vempati (CBFC), Madan Mohan Tripathi (NIELIT), Sudeep Shrivastava (IndiaAI Mission & MeitY) and Anshul Sonak (Intel India), along with representatives from government, academia and industry.

About NIELIT :

• NIELIT, formerly known as DOEACC Society, is an autonomous scientific society under MeitY engaged in capacity building and skill development in Information, Electronics and Communications Technology (IECT).
• Director General (DG) : Dr. Madan Mohan Tripathi.

Union Minister of State Dr. Jitendra Singh Launches ‘BIO-NIVESH’ to Promote Private Investment in Biotechnology

• Union Minister of State (MoS) (Independent Charge) Dr. Jitendra Singh, Ministry of Science and Technology (MoS&T), launched BIO-NIVESH, a strategic platform aimed at connecting biotechnology startups with investors.
• BIO-NIVESH aims to increase the flow of private capital into biotechnology innovations that are ready for scale-up and commercialisation.
• The platform was launched during a joint roundtable with biotechnology startups and investors held in New Delhi, Delhi, and presided over by Jitendra Singh.
• BIO-NIVESH follows an integrated approach that connects science, capital, industry and markets, while promoting collaboration among innovators, investors, industry and government.
• The first edition of BIO-NIVESH brought together 20 high-potential biotechnology/deep-tech startups and around 50 investors.
• The participating startups were selected based on factors including innovation, development stage, market potential, scalability and regulatory readiness.
• Unlike a conventional startup pitching event, BIO-NIVESH is designed as a two-way engagement mechanism, enabling startups to understand investors’ expectations and investors to gain deeper insights into the scientific, regulatory and development pathways of biotechnology.

Union Minister Dr. Jitendra Singh Inaugurates ‘Green Forge’ Complex at BRIC-National Agri-Food & Biomanufacturing Institute in Mohali

• Union Minister Dr. Jitendra Singh inaugurated the first-of-its-kind “Green Forge” Complex at BRIC-NABI (National Agri-Food & Biomanufacturing Institute) in Mohali, Punjab, marking a major milestone in India’s genetically modified (GM) crop research.
• The Green Forge facility has controlled simulation chambers where light quality, light quantity, humidity and temperature can be precisely varied to study GM crops under different environmental conditions.
• The facility will help researchers determine the most suitable locations for cultivation of newly developed GM crop varieties by testing their performance in simulated environments before field-level cultivation.
• Jitendra Singh addressed the National Conclave on BioE3 (Biotechnology for Economy, Environment and Employment) at BRIC-NABI and highlighted the transformation of India’s biotechnology ecosystem.
• India’s bioeconomy has expanded dramatically from US$10 billion to US$200 billion, which Jitendra Singh described as a major quantum jump, supported by an enabling policy approach and greater private-sector participation.
• The BioE3 initiative is increasingly focused on industry-ready manufacturing, with the objective of translating scientific research into products, technologies and practical solutions.
• Jitendra Singh highlighted the development of 22 manufacturing hubs to support start-ups, Small and Medium Enterprises (SMEs) and researchers.
• The National Bio-Foundry Network consists of 8 specialised facilities and aims to bring together infrastructure and capabilities for start-ups and entrepreneurs.
• More than 50 process innovations are being scaled up, reflecting India’s growing focus on converting research into real-world applications.
• The Department of Biotechnology (DBT) is supporting around 38 Carbon Capture and Utilisation (CCU) projects, which can provide solutions for carbon capture while addressing emissions from industries such as cement and steel.
• Emerging biotechnology areas highlighted by Jitendra Singh include sustainable aviation fuels, the I3 PhD programme and space biotechnology.
• India is collaborating with ISRO on life-science experiments, including research related to myogenesis, cognitive effects and cyanobacteria growth, while also expanding its work in genetics.
• BRIC-NABI is working in agri-biotechnology and integrating it with bioprocess engineering to convert agricultural waste into nutraceuticals and high-value biomaterials.
• The conversion of agricultural residues into high-value products can create additional economic value while supporting a more sustainable and circular bioeconomy. Jitendra Singh called for greater institutional collaboration and clustering, particularly among institutions located in the same city or region, to strengthen research and academic cooperation.
• Such institutional clusters can promote research collaboration, student-to-student interaction and talent identification across institutions.
• India’s biotechnology journey is increasingly focused on translating research into products, technologies and solutions, alongside the development of a low-carbon and circular economy.
• The biotechnology transformation supports India’s broader goals of Net Zero by 2070 and Atmanirbhar Bharat.

Tata Advanced Systems and Javelin JV Partner to Co-Produce Anti-Tank Missiles in India

• Tata Advanced Systems Limited (TASL) signed a Memorandum of Understanding (MoU) with the Javelin Joint Venture (JJV), a partnership between Raytheon and Lockheed Martin, to explore the co-production of the Javelin All Up Round (AUR) anti-tank missile in India.
• Under the proposed arrangement, TASL has been selected as the prime Indian partner for future in-country co-production efforts after evaluation of multiple Indian companies based on their technical expertise and manufacturing capabilities.
• The proposed partnership will establish a final assembly and integration facility in India for the Javelin AUR, along with capabilities for domestic component manufacturing.
• Under the proposed production model, US-made components will be combined with Indian final assembly and integration, supporting greater defence manufacturing capability in India.
• Lockheed Martin’s facility in Troy, Alabama, will manufacture the sub-assembly kits, while Raytheon’s facility in Tucson, Arizona, will manufacture the Guidance Electronics Units.
• The sub-assembly kits and Guidance Electronics Units produced in the United States will be shipped to India for final assembly and integration.
• The agreement is expected to strengthen India’s domestic defence industrial ecosystem, create high-technology employment, and improve the resilience of global defence supply chains.
• The proposed collaboration will also support the development of a skilled defence workforce in India, while sustaining employment in the US supply chain through multi-year production of sub-assembly kits and critical electronic components.
• The agreement was signed shortly after the Indian Army signed a Letter of Offer and Acceptance (LOA) with the United States for procurement of the Javelin anti-tank guided missile system through the Foreign Military Sales (FMS) route under emergency procurement powers.
• The Javelin is a man-portable, fire-and-forget anti-tank guided missile system jointly developed and produced by Raytheon and Lockheed Martin.
• The partnership represents a significant step towards expanding India–US defence industrial cooperation, particularly in domestic manufacturing, technology partnerships and defence supply-chain resilience.
• CEO and Managing Director of TASL : Sukaran Singh

CURRENT AFFAIRS: MOUS AND AGREEMENT

Odisha State Disaster Management Authority Signs Memoranda of Understanding with United Nations Development Programme and CivicDataLab to Strengthen Data-Driven Disaster Risk Management

• The Odisha State Disaster Management Authority (OSDMA) signed Memoranda of Understanding (MoUs) with the United Nations Development Programme (UNDP) and CivicDataLab to strengthen risk-informed and data-driven disaster risk reduction in Odisha.
• The MoUs were signed in the presence of Suresh Pujari, Revenue and Disaster Management Minister, Government of Odisha.

Key Highlights

• The partnerships aim to improve the assessment and understanding of hazards, risks and vulnerabilities across Odisha through systematic, evidence-based and data-driven approaches.
• The collaboration with UNDP will promote the effective use of data, technology and evidence in disaster risk management and decision-making.
• The partnership will support innovative approaches to improve the availability, accessibility and utilisation of risk information for disaster preparedness, mitigation and resilience.
• The collaboration with CivicDataLab will strengthen data-driven disaster risk reduction, supporting better use of data and technology for disaster management.
• The initiatives are expected to strengthen Odisha’s capacity for risk assessment, preparedness, mitigation, resilience and evidence-based decision-making.
• The partnerships will also support the development of innovative and technology-enabled approaches to disaster risk management.
• The MoUs reinforce Odisha’s focus on using data, technology and evidence to reduce disaster risks and improve community resilience.

About United Nations Development Programme (UNDP):

• Established: 1965
• Headquarters: New York, United States
• Administrator (Head): Alexander De Croo

Government e Marketplace and Textiles Committee Sign Memorandum of Understanding to Promote Recycled and Upcycled Textile Products

• Government e Marketplace (GeM) under the Ministry of Commerce and Industry and the Textiles Committee (TC) under the Ministry of Textiles signed a Memorandum of Understanding (MoU) to promote recycled and upcycled textile products through government procurement.
• The MoU was signed during the 62nd Foundation Day celebrations of the Textiles Committee in Mumbai, Maharashtra.
• The partnership aims to create a “Waste-to-Value-to-Market” ecosystem, enabling textile waste, scrap and second-hand clothes to be converted into quality value-added products and marketed to government buyers through GeM.

Key Highlights

• The Textiles Committee will identify, verify, certify and recognise eligible producers of recycled and upcycled textile products.
• It will also support stakeholder consultations, capacity building, market research and development of technical specifications for such products.
• GeM will create dedicated product categories for recycled and upcycled textiles, facilitate seller onboarding and online market linkages, and promote these products among government buyers.
• Training and handholding support will help last-mile recyclers and upcyclers participate effectively in public procurement.
• The initiative will follow a hub-and-spoke approach, with the Textiles Committee and its affiliated offices supporting outreach, mobilisation, capacity building and product specification development.
• The partnership will focus on women, Micro, Small and Medium Enterprises (MSMEs), local enterprises, artisans, recyclers and circular-economy enterprises.
• The initiative supports national priorities such as Vocal for Local, Make in India and AatmaNirbhar Bharat.
• The MoU was signed by Ajit B. Chavan, Additional Chief Executive Officer, GeM, and Kartikay Dhanda, Secretary, Textiles Committee.
• Giriraj Singh, Union Minister of Textiles, and Sanjay Savkare, Minister of Textiles, Government of Maharashtra, were present at the event.
• The initiative is expected to promote resource conservation, sustainable livelihoods and responsible consumption and production, while supporting India’s transition towards a circular and resource-efficient textile economy.
• By leveraging the scale of government procurement, the partnership aims to create reliable demand and new market opportunities for products made from textile waste.

Bharat Tex Trade Federation and Première Vision SA Sign Memorandum of Understanding to Strengthen India’s Global Textile and Fashion Presence

• Bharat Tex Trade Federation (BTTF) and Première Vision SA, a leading global platform for creative fashion, textiles and sourcing, signed a Memorandum of Understanding (MoU) in Paris, France.
• The MoU aims to strengthen India’s engagement with the global fashion and textile ecosystem and expand access for Indian businesses to international buyers, fashion houses and premium sourcing networks.

Key Highlights

• The MoU was signed by Dr. A. Sakthivel, Core Committee Member of BTTF and Chairman of Apparel Export Promotion Council (AEPC), and Florence Rousson, CEO – Fashion Division, Première Vision SA.
• Neelam Shami Rao, Secretary, Ministry of Textiles, and Dr. M. Beena, Development Commissioner (Handlooms), were present at the signing ceremony.
• The multi-year partnership builds on the Letter of Intent (LoI) signed between BTTF and Première Vision on 14 July 2026 during Bharat Tex 2026 in New Delhi.
• The partnership covers trade, sourcing, design, sustainability and global market access.
• It aims to help Indian textile manufacturers, exporters, designers, artisans, weavers, women entrepreneurs and Micro, Small and Medium Enterprises (MSMEs) access premium and luxury markets.
• The collaboration will support India’s shift from volume-driven exports towards higher-value, design-led and premium textile products.
• Première Vision’s global network and trend intelligence will help Indian enterprises understand international fashion requirements and connect with buyers seeking sustainable and high-quality products.
• The partnership is significant for India’s textile industry following the conclusion of negotiations for the India–European Union Free Trade Agreement (FTA) in January 2026.
• The agreement provides preferential market access on 96.8% of tariff lines, covering 99.5% of India’s exports, while 90.7% of exports by trade value are expected to become duty-free after the agreement comes into force.
• The European Union’s textile and apparel imports were valued at around US$292.8 billion in 2025, while India’s textile and apparel exports to the European Union stood at approximately US$10.4 billion.
• The proposed zero-duty access is expected to create opportunities for Indian exporters of garments, textiles, yarns and home textiles.
• The MoU will be implemented through a Joint Steering Committee.
• Key areas of cooperation include reciprocal participation in trade shows, knowledge-sharing sessions, buyer-seller meetings, reverse buyer-seller meetings, export promotion and market intelligence exchange.
• The partnership will promote circularity, traceability and responsible production, along with sustainability initiatives in the textile sector.
• An “Eternal Crafts Collaboration” will promote Indian and French textile heritage and craftsmanship to the global luxury and creative fashion community.
• “A Living Thread”, planned for January 2027, will bring together Indian artisans and French ateliers to showcase Indian hand embroidery, handloom and other heritage techniques alongside French textile traditions.
• The partnership combines India’s manufacturing capabilities, textile diversity and traditional craftsmanship with Première Vision’s international fashion, sourcing and trend network.

CURRENT AFFAIRS : OBITUARIES

Two-Time Grammy Award-Winning Jazz Singer Cassandra Wilson Passed away at 70

• Cassandra Wilson, a two-time Grammy Award-winning jazz singer, passed away at the age of 70 in Jackson, Mississippi, USA.
• She was born on 4 December 1955 in Jackson, Mississippi, USA.
• She learned to play the piano at the age of 6, later took up the clarinet, and studied at Millsaps College and Jackson State University.
• She performed with local bands, received musical training in New Orleans, and later joined Steve Coleman’s M-Base Collective in New York, USA.
• She released her debut album, Point of View, in 1986, followed by Jumpworld (1990) and She Who Weeps (1991).
• Her major albums included New Moon Daughter (1996), Loverly (2008), and Coming Forth by Day (2015).
• She performed at the renowned Apollo Theater in 2015, further highlighting her contribution to the jazz music scene.
• Cassandra Wilson won two Grammy Awards in 1997 and 2009 and received four Grammy nominations during her career.
• She was named America’s Best Singer in 2001, recognising her outstanding contribution to vocal music.
• She was honoured as a Jazz Master by the National Endowment for the Arts (NEA) in 2022.
• Wilson was known for her distinctive deep contralto voice and blended jazz, blues, folk, pop, R&B (Rhythm and Blues), and country music.

Veteran Gujarati Music Composer Gaurang Vyas Passed away at 87

• Gaurang Vyas, a legendary Gujarati music composer, arranger and singer, passed away at the age of 87 in Ahmedabad, Gujarat.
• He was born on 24 November 1938 in Mumbai, Maharashtra.
• He was widely recognised for his contribution to Gujarati film, folk and light music.
• Gaurang Vyas began his film career as an assistant to his father, Avinash Vyas, in the film Jesal Toral.
• He made his independent debut as a music composer with Lakho Phulani.
• During his career, he composed music for more than 100 films, making a significant contribution to Gujarati cinema.
• His notable films included Bhavni Bhavai, Maniyaro, Nasibni Balihari, Parki Thapan, Liludi Dharati and Maiyarman Mandu Nathi Lagtu.
• He also contributed to devotional and folk music through albums such as Jalaramni Jhumpdi, Bhajan Anmol, Ganga Satina Bhajano and Kahat Kabir.
• His other notable albums included Jalaram Bapanu Halaradu, Prachin Prabhatiyan and Non-Stop Dandiya-Raas.
• He received around 11 state-level Best Music Direction Awards for his contribution to music.
• He received the Lifetime Achievement Award from the Government of Gujarat in 2022.
• In 2024, he received further honours from the Gujarat State Music Academy and Gujarat Tourism.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Charity 2026 Observed on 5 September

• International Day of Charity is observed annually on 5 September to promote charitable activities, volunteering and philanthropy worldwide.
• The day was designated by the United Nations General Assembly (UNGA) on 17 December 2012.
• 5 September was chosen to commemorate the death anniversary of Mother Teresa, who dedicated her life to humanitarian and charitable activities.
• Mother Teresa was awarded the Nobel Peace Prize in 1979 for her humanitarian work.
• The day aims to encourage people across the world to support others through voluntary service, donations and charitable activities.
• It also seeks to increase awareness about the contribution of charitable organisations and individuals towards addressing humanitarian needs and promoting social welfare.
• The initiative originated from Hungarian civil society, with the support of the Government of Hungary, before being adopted by the United Nations.
• International Day of Charity highlights the importance of compassion, solidarity, philanthropy and volunteerism in achieving sustainable development and improving the lives of vulnerable communities.

Daily CA One- Liner: September 6 & 7

• The government constituted a 31-member Joint Parliamentary Committee (JPC) to examine the Foreign Contribution (Regulation) Amendment Bill, 2026
• Punjab Government launched ‘Pehchaan’, a statewide digital public identification portal to help identify unidentified and unclaimed deceased persons kept in government mortuaries
• The Chhattisgarh Government launched the Tribal Incentives on Natural Resources (TIN) Portal to ensure fair and transparent pricing for tin ore collected by tribal communities in Bastar
• The Ministry of Civil Aviation launched Hub and Spoke International Flight Operations from Ahmedabad Airport, making it the third airport in India to be integrated into the framework after Varanasi and Amritsar
• The Central Government has approved the establishment of a National School of Drama (NSD) campus in Bihar to strengthen the state’s rich traditions in theatre and performing arts
• The Odisha State Disaster Management Authority (OSDMA) signed Memoranda of Understanding (MoUs) with the United Nations Development Programme (UNDP) and CivicDataLab to strengthen risk-informed and data-driven disaster risk reduction in Odisha
• Government e Marketplace (GeM) under the Ministry of Commerce and Industry and the Textiles Committee (TC) under the Ministry of Textiles signed a Memorandum of Understanding (MoU) to promote recycled and upcycled textile products through government procurement
• Bharat Tex Trade Federation (BTTF) and Première Vision SA, a leading global platform for creative fashion, textiles and sourcing, signed a Memorandum of Understanding (MoU) in Paris, France.
• The Reserve Bank of India (RBI) released the results of its 2025–26 Survey of Foreign Liabilities and Assets of Mutual Funds, covering 53 Indian Mutual Funds and their Asset Management Companies (AMCs).
• Axis Bank Limited, one of India’s largest private-sector banks, partnered with Scapia, a leading Indian travel fintech, to launch the co-branded ‘Scapia Axis Bank Credit Card’.
• The Government of India approved the Emergency Credit Line Guarantee Scheme (ECLGS) 5.0 on 5 May 2026 to support businesses facing geopolitical disruptions, supply-chain challenges, higher logistics costs and liquidity pressures.
• The 26th Meeting of the Council of Heads of State (CHS) of the Shanghai Cooperation Organisation (SCO) Summit was held from 31 August to 1 September 2026 at the Yrys-Ordo Congress Hall in Bishkek, Kyrgyzstan, marking the 25th anniversary of the SCO.
• India reaffirmed its commitment to strengthening relations with Pacific Island countries at the 55th Pacific Islands Forum (PIF) Leaders’ Meeting held in Koror, Palau.
• Ülle Madise, the Chancellor of Justice of Estonia, was elected as the President of Estonia through a secret ballot as the sole candidate for a 5-year term.
• ICICI Bank Limited acquired an additional 2% stake in its life insurance venture, ICICI Prudential Life Insurance Company Limited, for approximately ₹1,470 crore through the stock exchange mechanism.
• Kalyani Strategic Systems Limited (KSSL), a wholly-owned defence subsidiary of Bharat Forge Limited (BFL), signed a Strategic Alliance Agreement (SAA) with France-based Thales Group, a global defence major.
• The Indian Space Research Organisation (ISRO) successfully launched the Earth observation satellite EOS-05 aboard the Geosynchronous Satellite Launch Vehicle (GSLV)-F17 rocket on 4 September 2026.
• The National Institute of Electronics and Information Technology (NIELIT), under the Ministry of Electronics and Information Technology (MeitY), collaborated with Intel India to organise a National Leadership Dialogue at the India Habitat Centre, New Delhi.
• Union Minister of State (MoS) (Independent Charge) Dr. Jitendra Singh, Ministry of Science and Technology (MoS&T), launched BIO-NIVESH, a strategic platform aimed at connecting biotechnology startups with investors.
• Union Minister Dr. Jitendra Singh inaugurated the first-of-its-kind “Green Forge” Complex at BRIC-NABI (National Agri-Food & Biomanufacturing Institute) in Mohali, Punjab, marking a major milestone in India’s genetically modified (GM) crop research.
• Tata Advanced Systems Limited (TASL) signed a Memorandum of Understanding (MoU) with the Javelin Joint Venture (JJV), a partnership between Raytheon and Lockheed Martin, to explore the co-production of the Javelin All Up Round (AUR) anti-tank missile in India.
• Cassandra Wilson, a two-time Grammy Award-winning jazz singer, passed away at the age of 70 in Jackson, Mississippi, USA.
• Gaurang Vyas, a legendary Gujarati music composer, arranger and singer, passed away at the age of 87 in Ahmedabad, Gujarat.
• International Day of Charity is observed annually on 5 September to promote charitable activities, volunteering and philanthropy worldwide