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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India  Keeps Policy Rates Unchanged in 3rd Bi-monthly Monetary Policy Meeting of FY2026-27

• The Reserve Bank of India (RBI) conducted the 62nd and 3rd Bi-monthly Monetary Policy Committee (MPC) Meeting of FY 2026-27 from August 3–5, 2026 under the chairmanship of RBI Governor Sanjay Malhotra.
• The MPC meeting was attended by members Dr. Nagesh Kumar, Saugata Bhattacharya, Prof. Ram Singh, Dr. Poonam Gupta and Indranil Bhattacharyya.

Key Highlights :

• The RBI MPC unanimously decided to keep the Policy Repo Rate unchanged at 5.25% under the Liquidity Adjustment Facility (LAF).
• The Standing Deposit Facility (SDF) Rate remained unchanged at 5.00%.
• The Marginal Standing Facility (MSF) Rate and Bank Rate continued at 5.50%.
• The RBI maintained the Monetary Policy Stance as “Neutral” after assessing macroeconomic and financial developments.
• The Real GDP Growth Forecast for FY 2026-27 was revised upward to 6.7% from the earlier estimate of 6.6%, showing confidence in India’s domestic growth outlook.
• The GDP Growth Projection for FY27 quarters was estimated at Q1: 7.0%, Q2: 6.4%, Q3: 6.5%, and Q4: 6.8%.
• The Real GDP Growth Forecast for Q1 FY 2027-28 was projected at 7.3%.
• The CPI Inflation Forecast for FY 2026-27 was revised downward to 0% from the earlier projection of 5.1%.
• The Quarter-wise CPI Inflation Projection for FY27 was estimated at Q2: 4.7%, Q3: 5.9%, and Q4: 5.5%.
• The CPI Inflation for Q1 FY 2027-28 was projected at 5.3%, with risks remaining evenly balanced.
• CPI Inflation increased to 4.4% in June 2026 after remaining below the target level for 16 consecutive months.
• The rise in June 2026 inflation was mainly due to higher food inflation and fuel inflation caused by increased input costs and international energy price movements.
• The Core Inflation (excluding food and fuel) remained unchanged at 3.9% during May–June 2026.
• Core Inflation excluding precious metals remained lower at around 2.3%–2.5%, indicating limited demand-side inflation pressure.
• The Core Inflation Forecast for FY27 was projected at 4.3%.
• The RBI highlighted risks from El Niño impact on rainfall, volatile global oil prices, geopolitical developments, and possible increases in food and fuel prices.
• The RBI stated that proactive supply management and adequate foodgrain stocks could help reduce inflation risks.
• The RBI released Draft Guidelines for On-Tap Licensing of Urban Cooperative Banks (UCBs).
• On-Tap Licensing System allows eligible entities to apply for a UCB licence at any time subject to RBI-prescribed eligibility conditions.
• The next RBI MPC Meeting is scheduled from October 5–7, 2026.

Department of Financial Services Insurance Division Ranks 3rd in Grievance Redressal Assessment Index Group A Category for June 2026 Grievance Redressal Performance

• The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redress and Monitoring System (CPGRAMS) Monthly Report for June 2026, analysing the types, categories and disposal status of public grievances.
• As per the CPGRAMS June 2026 Report, the Department of Financial Services (DFS) – Insurance Division secured the 3rd position in grievance redressal rankings.
• The Department of Financial Services (DFS) – Banking Division secured the 6th position in the CPGRAMS rankings.
• The Department of Financial Services (DFS) has been consistently ranked among the Top 10 Ministries/Departments in GRAI (Grievance Redressal Assessment Index) rankings since November 2025.
• During June 2026, the Department of Financial Services successfully disposed of more than 30,000 public grievances, reflecting its commitment towards timely and effective grievance resolution.
• Senior officials of the Department of Financial Services (DFS) are personally reviewing randomly selected grievances regularly to improve the quality of grievance handling.
• The DFS regularly conducts workshops on “Effective Grievance Redressal Mechanism” to promote best practices and strengthen public service delivery.
• These grievance redressal workshops help in improving stakeholder coordination, technology adoption and customer-centric governance.
• The Department of Financial Services has demonstrated continuous efforts towards transparent, accountable and responsive public grievance management.
• The achievement highlights DFS’s focus on robust monitoring mechanisms, regular reviews and close coordination with the BFSI (Banking, Financial Services and Insurance) sector.

Bajaj General Insurance Collaborates with Swiss Re Corporate Solutions to Strengthen Commercial Insurance Services

• Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company) signed a Memorandum of Understanding (MoU) with Swiss Re Corporate Solutions to explore a partnership in India’s commercial insurance segment.
• Swiss Re Corporate Solutions is the commercial insurance arm of Swiss Re Group, a Switzerland-based global reinsurance and risk solutions company.
• The partnership aims to provide international insurance programmes for Indian companies with overseas operations and help them manage risks across multiple jurisdictions.
• The proposed collaboration will combine Bajaj General Insurance’s local market presence with Swiss Re’s global risk expertise and commercial capabilities.
• The partnership will focus on providing underwriting expertise for important sectors such as high technology and manufacturing industries.
• Under the proposed arrangement, both companies will leverage Swiss Re’s International Programs Platform to develop structured insurance solutions for Indian businesses operating globally.
• The agreement is subject to regulatory approvals and definitive agreements before implementation.
• The collaboration will strengthen India’s commercial insurance ecosystem by providing advanced risk management solutions to businesses.
• Swiss Re Corporate Solutions CEO : Ivan Gonzalez

About Bajaj General Insurance Limited :

• Established : 2001 and is a subsidiary of Bajaj Finserv Limited.
• Headquarters: Pune, Maharashtra.
• MD and CEO : Tapan Singhel

Securities and Exchange Board of India Approves Manipal Health Enterprises’ Proposed Initial Public Offering Backed by Temasek

• Manipal Health Enterprises (MHE), backed by Temasek, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
• Manipal Health Enterprises is one of India’s largest private hospital operators and manages a wide network of healthcare facilities across the country.
• The company is expected to file an updated Draft Red Herring Prospectus (DRHP) with SEBI before proceeding with the public issue.
• The proposed IPO size is expected to be around US$1 billion, although the final issue size may vary depending on market conditions and ongoing discussions.
• The company is targeting a stock market listing by the end of July, marking a major milestone in its growth journey.
• The proposed listing could become one of India’s biggest healthcare IPOs and may become the first billion-dollar public issue in India in 2026.
• The IPO approval comes at a time when India’s equity capital market activity is showing signs of recovery after a relatively slow beginning in 2026.
• Manipal Health Enterprises had earlier filed its Draft IPO papers with SEBI, initiating the process for becoming a publicly listed healthcare company.

Recent News :

• In Aug 2026, Securities and Exchange Board of India (SEBI) extended the deadline for Regulated Entities (REs) to complete the Accessibility Audit of digital platforms and remediation of audit findings to 31 October 2026.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Tamil Nadu Government Presents First Budget; Targets $1.5 Trillion Economy by 2031

• Tamil Nadu Finance Minister N. Marie Wilson presented the first Budget of the TVK Government in the Tamil Nadu Legislative Assembly.
• The government has set an ambitious target of transforming Tamil Nadu into a $1.5 trillion economy by 2031, with a projected economic growth rate of 9%.
• The state government has reported a fiscal deficit of ₹78,324 crore and an outstanding debt exceeding ₹10.43 lakh crore.
• The government aims to generate an additional ₹15,000 crore revenue and reduce financial pressure by improving revenue collection and preventing leakages.
• A committee headed by M. S. Ahluwalia has been constituted to review existing government programmes, improve implementation, and ensure better outcomes from welfare schemes.
• The government announced measures to reduce red tapism and improve administrative efficiency across departments.
• The Budget focuses on welfare sectors including:
• Housing
• Healthcare
• Senior citizen welfare
• Women empowerment
• School and higher education
• Agriculture and industries
• The government has also announced measures to increase green cover and promote sustainable development practices across sectors.
• A state's fiscal deficit, debt management, revenue mobilisation, and welfare expenditure are important indicators of its public finance management.

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 emerged as the India’s top textile exporter in 2024-25 with state has surpassing Gujarat and Maharashtra with exports worth of $7,997.17 million. In the last four years state recorded a strong growth of over 29% which is reflecting consistent policy support and expansion. 

Madhya Pradesh Emerges as Leading Horticulture State; Becomes India's Largest Tomato Producer in 2025–26

• Madhya Pradesh Chief Minister Mohan Yadav announced during the Balram Krishi Mahotsav in Betul that the state has emerged as a leading horticulture state, with a focus on modern farming technologies to enhance agricultural productivity, farmers' income, and exports.
• The state has witnessed significant growth in the cultivation of fruits, vegetables, spices, flowers, and medicinal plants, while promoting micro-irrigation, protected cultivation, precision farming, mechanisation, and climate-resilient agriculture.
• Farmers are being encouraged to cultivate high-value horticultural crops through the Mission for Integrated Development of Horticulture (MIDH), supported by cold-chain infrastructure and food processing facilities.
• According to the First Advance Estimates 2025–26, India produced 21.32 million tonnes of tomatoes, making it the second-largest tomato producer in the world after China (71.70 million tonnes). Tomatoes account for 11.04% of India's total vegetable production.

Top 5 Tomato Producing States (2025–26)

• Major tomato-producing districts include Shivpuri, Jhabua, and Shajapur (Madhya Pradesh); Chittoor, Prakasam, Anantapur, Kurnool, and Visakhapatnam (Andhra Pradesh); and Kolar and Belagavi (Karnataka).
• Expansion of the horticulture sector is expected to increase farmers' income, employment, value addition, and agricultural exports, strengthening the rural economy.
• Mission for Integrated Development of Horticulture (MIDH) is a Centrally Sponsored Scheme launched in 2014–15 by the Ministry of Agriculture and Farmers' Welfare for the holistic development of the horticulture sector.
• India is the second-largest producer of fruits and vegetables globally after China, while horticulture contributes nearly one-third of the Gross Value Added (GVA) of agriculture despite occupying a smaller share of cropped area.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park, Satpura National Park, Sanjay National Park, Madhav National Park, Van Vihar National Park, Mandla Plant Fossils National Park
• Wildlife Sanctuaries: Gandhi Sagar Wildlife Sanctuary, National Chambal Wildlife Sanctuary, Kuno Wildlife Sanctuary, Pachmarhi Wildlife Sanctuary, Pench Wildlife Sanctuary, Panna Wildlife Sanctuary, Nauradehi Wildlife Sanctuary, Singhori Wildlife Sanctuary, Bori Wildlife Sanctuary

RECENT NEWS

• Madhya Pradesh partnered with the Google Cloud India for the Simhastha Kumbh 2028 in Ujjain. With this Google Cloud India set to deploy the AI solutions for crowd management, traffic prediction, emergency response and the pilgrim assistance.

Assam Launches Application Process for Mukhya Mantrir Nijut Moina and Nijut Babu Schemes; Announces Flood Relief for Schools and Students

• Assam Chief Minister Himanta Biswa Sarma launched the application process for the Mukhya Mantrir Nijut Moina Scheme and Mukhya Mantrir Nijut Babu Scheme.
• The schemes aim to provide financial assistance to students pursuing Higher Secondary, Undergraduate (UG), and Postgraduate (PG) education in the state.
• The Mukhya Mantrir Nijut Moina Scheme primarily aims to eradicate child marriage by encouraging girls to continue higher education.
• The Mukhya Mantrir Nijut Babu Scheme provides financial assistance to male students, with a comparatively lower stipend than the Nijut Moina Scheme.
• Under the Nijut Moina Scheme:
• Around 1.6 lakh girl students benefited during 2024–25.
• Beneficiaries increased to 4 lakh during 2025–26.
• An additional 1 lakh girl students are expected to be covered during 2026–27, taking the total to 5 lakh beneficiaries.
• Under the Nijut Babu Scheme:
• Around 50,000 boys benefited in the previous year.
• An additional 70,000 students will be covered during 2026–27.
• The total number of beneficiaries will increase to 1.2 lakh.
• From 2026–27, the following students have also been made eligible under the Nijut Moina Scheme:
• Girls pursuing Polytechnic courses.
• Girls studying in the seventh semester of Integrated Postgraduate programmes.
• Students must maintain:
• Regular attendance
• Discipline
• Academic commitment

to remain eligible for financial assistance.

• The Assam Government also announced flood relief measures:
• ₹15.86 crore released to 793 flood-affected schools in Sivasagar, Charaideo, Jorhat, and Golaghat districts.
• ₹4.26 crore released from the Chief Minister’s Relief Fund (CMRF) for 21,025 students in Sivasagar and Charaideo to purchase educational materials lost during the floods.
• Schools that suffered permanent damage due to floods will receive additional financial assistance after detailed assessment.
• The Mukhya Mantrir Nijut Moina Scheme is a flagship initiative of the Assam Government aimed at promoting girls' education and preventing child marriage through financial incentives.

About Assam:

• Chief Minister: Himanta Biswa Sharma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga, Manas, Nameri, Orang, Dibru-Saikhowa, Dihing Patkai, Raimona National Parks
• Wildlife Sanctuaries: Pobitora, Hollongapar Gibbon, Chakrasila, Sonai Rupai, Amchang Wildlife Sanctuaries

 RECENT NEWS

• The state of Assam has another milestone to preserve and promoting the its rich cultural heritage with the grant of Geographical Indication (GI) tags to four traditional products.

12 Rat Miners Conferred Sarvottam Jeevan Raksha Padak for Heroic Role in Silkyara Tunnel Rescue Operation

• Union Minister for Road Transport and Highways Nitin Gadkari conferred the Sarvottam Jeevan Raksha Padak on 12 rat miners for their exceptional courage and selfless service during the Silkyara Tunnel Rescue Operation.
• The awards were presented at an investiture ceremony in New Delhi.
• Minister of State for Road Transport and Highways Harsh Malhotra and other senior officials attended the ceremony.
• The Silkyara Tunnel Rescue Operation is regarded as one of the most challenging rescue missions undertaken in recent years.
• The 12 rat miners played a crucial role in manually digging through the final section of debris, enabling the successful rescue of the trapped workers.
• Prime Minister Narendra Modi closely monitored the rescue operation and ensured that all necessary resources were mobilised for the safe evacuation of the workers.
• Nitin Gadkari described the Sarvottam Jeevan Raksha Padak as a recognition of the miners’ extraordinary bravery, dedication, and commitment to saving human lives.
• The Silkyara Tunnel is located in Uttarkashi district, Uttarakhand, where 41 workers were successfully rescued after being trapped following the tunnel collapse in November 2023.
• The Jeevan Raksha Padak Series of Awards recognises acts of bravery and life-saving performed by civilians.

CURRENT AFFAIRS : INTERNATIONAL NEWS

16th BRICS Health Ministers' Meeting Successfully Concludes in India with Focus on Global Health Cooperation

• The 16th BRICS Health Ministers' Meeting was successfully concluded in Chandigarh, India under India’s BRICS Chairship 2026 to strengthen cooperation among BRICS countries on global health challenges.
• The meeting was conducted under India’s BRICS Chairship theme “Building for Resilience, Innovation, Cooperation and Sustainability” focusing on resilient health systems, innovation, pandemic preparedness and Universal Health Coverage (UHC).
• The meeting brought together Health Ministers, Heads of Delegation, senior officials and public health experts from BRICS member countries to enhance global health cooperation.
• Union Health Minister Jagat Prakash Nadda addressed the meeting virtually and highlighted India’s efforts in strengthening healthcare through people-centric policies, digital public infrastructure and expanded healthcare access.
• BRICS countries emphasized the need for stronger cooperation to address infectious diseases, non-communicable diseases (NCDs), climate-related health risks and emerging technological challenges.
• The meeting reaffirmed commitment towards achieving Universal Health Coverage (UHC) and building inclusive, equitable and sustainable healthcare systems.

Key Highlights :

Important Health Initiatives & Outcomes

• BRICS countries reaffirmed support for the BRICS TB Research Network to accelerate tuberculosis (TB) elimination through collaborative research, innovation and knowledge sharing.
• BRICS nations highlighted that they collectively account for nearly half of the global tuberculosis burden, requiring stronger cooperation for TB control.
• The meeting supported cooperation among BRICS Medical Products Regulatory Authorities to improve regulatory convergence, quality assurance and access to safe medical products.
• The BRICS GxP White Paper was released to strengthen regulatory excellence, harmonisation and capacity building in medical products.
• The ministers supported the establishment of the BRICS Integrated Early Warning System for Prevention and Response to Mass Infectious Diseases to improve disease surveillance, information sharing and emergency preparedness.

Digital Health & Technology Initiatives

• India highlighted the success of Ayushman Bharat Digital Mission (ABDM), Ayushman Arogya Mandirs and E-Sanjeevani telemedicine platform in expanding healthcare access through Digital Public Infrastructure (DPI).
• The meeting welcomed the BRICS Compendium on Digital Health Architecture for Continuum of Care, aimed at promoting interoperable digital healthcare systems among member countries.
• BRICS countries emphasized the role of digital health technologies in providing quality healthcare services to remote and underserved populations.

Mental Health & Lifestyle Initiatives

• The meeting announced the establishment of the BRICS Network of Centres of Excellence (CoEs) on Mental Wellness, coordinated by NIMHANS, India.
• The BRICS Network of Centres of Excellence on Mental Wellness aims to strengthen mental health research, promote mental well-being and reduce treatment gaps.
• BRICS countries launched the BRICS Mission for Healthy Lifestyle along with the BRICS Roadmap for Joint Initiative on Healthy Lifestyle Promotion (2026–2029).
• The initiative focuses on promoting healthy diets, physical activity, traditional food cultures and evidence-based behavioural changes.

Traditional Medicine & Public Health Cooperation

• BRICS countries promoted Traditional, Complementary and Integrative Medicine (TCIM) through research, evidence generation and knowledge exchange.
• The meeting supported the establishment of the BRICS Expert Working Group on TCIM to strengthen cooperation in traditional medicine.
• Member countries endorsed the BRICS Operational Framework to Fight Diseases Driven by Social Determinants of Health (DD-SDH) to improve health equity and Sustainable Development Goals (SDGs).
• The Operational Framework for BRICS Network of National Public Health Institutes (NPHIs) was adopted to enhance scientific collaboration, policymaking and capacity building.

Vaccines, Research & Innovation

• BRICS nations reaffirmed support for the BRICS Vaccine Research and Development (R&D) Centre to strengthen vaccine research and ensure equitable access to vaccines.
• Countries agreed to enhance cooperation in BRICS Nuclear Medicine for advancing healthcare innovation.
• The meeting encouraged collaborative research, technology exchange and capacity building among BRICS members.

Agricultural and Processed Food Products Export Development Authority Facilitates Uttarakhand's First Frozen French Fries Export to Iraq

• Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, facilitated the first-ever export of 24 Metric Tonnes (MT) of Frozen French Fries from Kashipur, Udham Singh Nagar district, Uttarakhand, to Iraq.
• The export consignment was shipped by Virun Global Trade Pvt. Ltd., marking a significant milestone in promoting value-added agricultural exports from Uttarakhand.
• The consignment consisted of a 40-foot reefer (refrigerated) container carrying 24 MT of ready-to-fry frozen French fries, ensuring product quality during transportation.
• The raw potatoes used for processing were cultivated by more than 400 small and marginal farmers from the plains of Udham Singh Nagar, Uttarakhand, promoting farmer participation in global trade.
• The potatoes were processed and flash-frozen at a state-of-the-art processing facility in Kashipur, meeting international quality and phytosanitary standards for export.
• The initiative supports India’s Agriculture Export Policy (AEP), which focuses on shifting agricultural exports from low-value raw commodities to high-value, value-added processed food products.
• The export strengthens India’s processed food export basket and opens new international market opportunities for food processors based in Uttarakhand.
• APEDA supported the exporter by facilitating participation in major international trade exhibitions such as SIAL, Gulfood, IndusFood, and World Food India, helping expand global market access and buyer engagement.
• During 2025–26, India exported 7,26,874.70 MT of processed vegetables, valued at ₹8,238.78 crore (US$ 932.25 million).
• During the same period, value-added potato products accounted for 277,108.51 MT of exports, valued at ₹2,540.67 crore (US$ 287.49 million).
• Processed fruits and vegetables contributed nearly 10% of APEDA’s scheduled exports during 2025–26.
• APEDA is collaborating with the Government of Uttarakhand to formulate and implement the State Agri Export Policy, including transport assistance measures to improve export competitiveness from landlocked regions.
• The initiative is expected to strengthen export infrastructure, promote value addition, increase farmers’ incomes through improved market access, and reinforce India’s position in the global processed food market.
• Processing potatoes into frozen French fries helps reduce post-harvest losses, addressing one of the major challenges in India’s horticulture sector.
• The export also expands India’s agricultural trade with Iraq, a market traditionally known for importing Indian Basmati rice and buffalo meat, by adding processed potato products to the export basket.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Air India Names Former Ethiopian Airlines Chief Tewolde Gebremariam as Chief Executive Officer & Managing Director

• Air India appointed Tewolde Gebremariam, former Chief Executive Officer (CEO) of Ethiopian Airlines Group, as its new Chief Executive Officer & Managing Director (CEO & MD) on 5 August 2026.
• Tewolde Gebremariam succeeded Campbell Wilson, whose resignation took effect in April 2026 and whose departure is scheduled for 30 September 2026.
• The appointment was approved by the Air India Board of Directors after a global search involving both internal and international candidates.
• Tewolde Gebremariam served as CEO of Ethiopian Airlines Group from 2011 to 2022, transforming it into Africa’s largest and most profitable airline group.
• During his tenure, Ethiopian Airlines Group's revenue increased more than fourfold, while its aircraft fleet nearly tripled.
• Tewolde Gebremariam brings extensive expertise in international network expansion, hub operations, Maintenance, Repair and Overhaul (MRO), aviation training, safety management, and workforce development.
• His appointment is subject to mandatory security clearance from the Ministry of Home Affairs (MHA) and the Bureau of Civil Aviation Security (BCAS).

About Air India :

• Air India was established in 1932 by J. R. D. Tata, is headquartered in Gurugram, Haryana, and has been owned by Tata Sons since 2022.

About Ethiopian Airlines Group :

• Ethiopian Airlines Group is the flag carrier of Ethiopia, headquartered in Addis Ababa, with its main hub at Addis Ababa Bole International Airport.
• Ethiopian Airlines Group is one of Africa's largest airline groups, operating extensive connectivity across Africa, Europe, Asia, and the Americas.

Appointments Committee of the Cabinet Grants One-Year Service Extension to Cabinet Secretary T. V. Somanathan

• The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved a one-year extension in the service of V. Somanathan, Cabinet Secretary of India.
• V. Somanathan, a 1987-batch Indian Administrative Service (IAS) officer of the Tamil Nadu cadre, will continue as Cabinet Secretary beyond 30 August 2026 for another one year.
• V. Somanathan assumed charge as the 33rd Cabinet Secretary of India on 30 August 2024, succeeding Rajiv Gauba.
• The Cabinet Secretary is the senior-most civil servant in the Government of India (GoI) and serves as the head of the Cabinet Secretariat.
• The Cabinet Secretary plays a key role in coordinating among ministries and ensuring the smooth functioning of the Union Government.
• The service extension of V. Somanathan was approved by relaxing provisions under Fundamental Rule 56(d) and Rule 16(1A) of the All India Services (Death-cum-Retirement Benefits) Rules, 1958.
• The ACC also approved a one-year extension for Govind Mohan, Union Home Secretary, beyond 22 August 2026 until 22 August 2027.
• Govind Mohan is a 1989-batch IAS officer of the Sikkim cadre and serves as the Secretary, Ministry of Home Affairs (MHA).
• Govind Mohan was appointed as Home Secretary in 2024 and assumed office on 23 August 2024.
• Before becoming Home Secretary, Govind Mohan served as the Culture Secretary.
• The tenure extension of Govind Mohan was also granted by relaxing Fundamental Rule 56(d) and Rule 16(1A) of the All India Services (Death-cum-Retirement Benefits) Rules, 1958.

Appointments Committee of the Cabinet Clears Major International Appointments of Senior Officials to Global Organisations Including International Monetary Fund and Asian Development Bank

• The Department of Personnel and Training (DoPT) under the Ministry of Personnel, Public Grievances and Pensions (MoPP&P) approved key foreign postings of senior bureaucrats through the Appointments Committee of the Cabinet (ACC).
• The approved postings are for important international organisations including the International Monetary Fund (IMF), Asian Development Bank (ADB), World Bank (WB), World Trade Organization (WTO), and International Civil Aviation Organization (ICAO).

Key Highlights :

• Rahul Jain, a 2005-batch IAS officer of Madhya Pradesh cadre, was appointed as Senior Adviser to the Executive Director (India), IMF, Washington D.C. for a period of 3 years.
• Rahul Jain is currently serving as Joint Secretary, Ministry of Corporate Affairs (MoCA) before his appointment to the IMF.
• Baldeo Purushartha, a 2002-batch IAS officer of Punjab cadre, was appointed as Senior Adviser to the Executive Director, Asian Development Bank (ADB), Manila, Philippines for 3 years.
• Baldeo Purushartha is currently serving as Joint Secretary, Department of Economic Affairs (DEA) under the Ministry of Finance.
• Satyajit Mohanty was appointed as Representative of India in the Council of International Civil Aviation Organization (ICAO), Montreal, Canada for 3 years.
• Satyajit Mohanty is currently serving as Joint Secretary, Ministry of Defence (MoD).
• The ACC approved 10 overseas appointments and one tenure extension for senior government officers at Deputy Secretary, Director and Joint Secretary levels.
• Brij Mohan Mishra (IAS), Joint Secretary in the Ministry of Commerce and Industry, was appointed as Minister (Economic and Commercial) at the Embassy of India, Tokyo, Japan.
• Balamurugan D. (IAS) was appointed as Minister (Agriculture) at the Embassy of India, Rome, Italy.
• Hemang Jani, Senior Adviser to the Executive Director at the World Bank, Washington D.C., received a two-year tenure extension on foreign deputation up to 16 July 2029 or until further orders.
• Kapil Patidar (IES), Director in the Department of Economic Affairs, was appointed as Adviser to the Executive Director (India), IMF, Washington D.C.
• Gopalakrishnan Ganesan (IRAS), Director in the Ministry of Steel, was appointed as Counsellor (Economic) at the Economic Wing of the Embassy of India, Washington D.C.
• Aditya Rajendra Bhojgadhiya (IA&AS) was appointed as First Secretary at India’s Permanent Mission to WTO, Geneva, Switzerland.
• Jivisha Joshi Gangopadhyay (IRTS) was appointed as First Secretary (Legal) at India’s Permanent Mission to WTO, Geneva.
• Subhash Kumar (IDAS), Director in the Ministry of Defence, was appointed as Director at the SAARC Secretariat, Kathmandu, Nepal for 3 years.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Government Initiates Historic 6.5% Life Insurance Corporation of India Stake Sale Through Largest-Ever Offer for Sale Disinvestment

• The Government of India (GoI) launched an Offer for Sale (OFS) to divest up to 5% stake in Life Insurance Corporation of India (LIC), making it the largest OFS-based disinvestment in India’s history.
• Under the base offer, the government is selling a 5% stake of LIC (31.6 crore shares) with a greenshoe option for an additional 4% stake (50.6 crore shares).
• Through the greenshoe option, the total possible stake sale in LIC may increase to 5% of the company’s equity capital.
• The Securities and Exchange Board of India (SEBI) allowed LIC additional time to achieve the minimum 10% public shareholding requirement by 16 May 2027.
• Currently, the Government of India holds a 5% stake in LIC after partial disinvestment.
• The government had earlier divested 5% stake in LIC through an Initial Public Offering (IPO) in May 2022, raising around ₹21,000 crore.
• LIC’s IPO price band was ₹902–949 per share, and it was one of India’s largest public offerings.
• During the current fiscal year, the Central Government has mobilised ₹21,082 crore through stake sales in seven Public Sector Undertakings (PSUs) and remittances from Specified Undertaking of the Unit Trust of India (SUUTI).

About LIC :

• Established : 1 September 1956 under the Life Insurance Corporation Act, 1956.
• LIC is India’s largest life insurance company and is owned by the Government of India.
• LIC is regulated by the Insurance Regulatory and Development Authority of India (IRDAI), which supervises the insurance sector in India.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Adani Navbharat Developers Private Limited Launches Artificial Intelligence-Powered "Dharavi Didi" to Support Dharavi Redevelopment Project

• Adani Navbharat Developers Private Limited (ANDPL), the Special Purpose Vehicle (SPV) implementing the Dharavi Redevelopment Project (DRP), launched "Dharavi Didi", an Artificial Intelligence (AI)-powered conversational assistant for project-related information.
• Dharavi Didi is a 24×7 interactive AI companion designed to provide verified, official and real-time information to nearly one million Dharavi residents regarding the redevelopment and rehabilitation project.
• The primary objective of Dharavi Didi is to combat rumours, misinformation and conflicting claims by providing a single trusted source of authenticated information directly from project authorities.
• The AI chatbot is accessible through WhatsApp chat, voice calls and video calls, enabling residents to obtain information anytime in a simple and conversational manner.
• Dharavi Didi currently supports Hindi, Marathi and English, while Tamil, Telugu and Gujarati are planned to be added in future phases.
• The chatbot provides official information related to survey status, survey procedures, eligibility criteria, required documentation, rehabilitation process, resettlement process and official project updates.
• The platform has been developed by ANDPL in collaboration with YAAP Digital, which designed the resident engagement ecosystem and user experience.
• Weya AI is the technology partner, providing multilingual conversational AI, voice-enabled interactions and accessibility features.
• The Dharavi Redevelopment Project (DRP) is one of the world's largest urban renewal and rehabilitation projects, involving the relocation and rehabilitation of thousands of families and businesses.
• The AI platform aims to improve transparency, strengthen communication between residents and project authorities, and ensure easy access to official information without requiring physical visits.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Sri Lanka Review Bilateral Power Sector Cooperation; Discuss HVDC Interconnection and Sampur Solar Power Project

• Union Minister of Power and Housing & Urban Affairs Manohar Lal and Sri Lanka's Minister of Ports and Civil Aviation & Minister of Energy Anura Karunathilake held a bilateral meeting in New Delhi to review cooperation in the power sector.
• The Ministers reviewed the progress of key bilateral projects, including the India–Sri Lanka High Voltage Direct Current (HVDC) Interconnection and the Sampur Solar Power Project.
• Both sides discussed expanding cooperation in cross-border electricity trade, renewable energy, transmission infrastructure, and capacity building to strengthen regional energy security and support the clean energy transition.
• India shared its experience in transmission system development through the Tariff-Based Competitive Bidding (TBCB) framework implemented under the Public-Private Partnership (PPP) model.
• The two countries reviewed the progress made under existing bilateral institutional mechanisms and reaffirmed their commitment to strengthening cooperation in the power sector.
• Manohar Lal reiterated India's continued support for the India–Sri Lanka energy partnership, while Anura Karunathilake appreciated India's assistance and expressed Sri Lanka's commitment to expanding bilateral energy cooperation.
• The meeting was attended by Pankaj Agarwal, Secretary, Ministry of Power, along with senior officials from both countries. The Sri Lankan delegation also included Mahishini Colonne, High Commissioner of Sri Lanka to India.
• The India–Sri Lanka HVDC Interconnection Project aims to establish an electricity grid link between the two countries, facilitating cross-border power trade, grid stability, and renewable energy integration.

About Sri Lanka

• Capital: Sri Jayawardenepura Kotte (Legislative), Colombo (Commercial)
• Currency: Sri Lankan Rupee (LKR)

• Prime minister: Dr. Harini Amarasuriya

India and Bhutan Strengthen Energy Partnership; Hold Bilateral Talks on Hydropower and Cross-Border Electricity Cooperation

• Union Minister of Power and Housing & Urban Affairs Manohar Lal held a bilateral meeting with Bhutan's Minister of Energy and Natural Resources, Lyonpo Gem Tshering, in New Delhi.
• The meeting reaffirmed the long-standing India–Bhutan partnership in the power sector, which remains a key pillar of bilateral relations between the two countries.
• Both Ministers reviewed the progress of ongoing cooperation and discussed strengthening collaboration in:
• Hydropower development
• Cross-border electricity trade
• Transmission connectivity
• Renewable energy
• Institutional cooperation and capacity building
• The Ministers also reviewed progress under the bilateral institutional mechanisms established to promote regular engagement and enhance cooperation in the energy sector.
• Key hydropower projects discussed included Punatsangchhu-I, Punatsangchhu-II, Sankosh, and Chukha Hydropower Projects.
• Both sides reiterated their commitment to promoting sustainable development, regional energy security, and timely implementation of mutually beneficial energy initiatives.
• Manohar Lal reaffirmed India's continued support for Bhutan's power sector, while Lyonpo Gem Tshering appreciated India's assistance and expressed Bhutan's commitment to expanding bilateral energy cooperation.
• Hydropower cooperation between India and Bhutan is one of the most successful examples of bilateral energy collaboration, with Bhutan exporting surplus electricity to India.

About Bhutan

• Capital: Thimphu
• Currency: Bhutanese Ngultrum (BTN)
• Prime Minister: Tshering Tobgay

CURRENT AFFAIRS: SPORTS NEWS

Praggnanandhaa Wins Maiden Saint Louis Rapid & Blitz 2026 Title

• Indian Grandmaster (GM) R. Praggnanandhaa won his first Saint Louis Rapid & Blitz title in the 2026 Grand Chess Tour (GCT), United States.
• The 20-year-old secured the championship with one round to spare, showcasing a dominant performance throughout the tournament.
• Praggnanandhaa finished with 23.5 points, emerging as the tournament champion.
• Javokhir Sindarov (Uzbekistan) finished second with 22 points, while Wesley So (United States) secured the third position with 20.5 points.
• Praggnanandhaa won the Rapid section and lost only one game in the Blitz section, scoring 11.5 points out of 18 in the blitz rounds.
• Following his victory, Praggnanandhaa moved to second place in the overall Grand Chess Tour standings, significantly improving his chances of qualifying for the Grand Chess Tour Finals 2026.
• The final tournament of the Grand Chess Tour 2026 will be played in the Classical format, where Praggnanandhaa will aim to secure his place in the season finale.
• The withdrawal of Alireza Firouzja (France) from the remaining Grand Chess Tour events, due to scheduling issues, resulted in the removal of his accumulated points, benefiting Praggnanandhaa's overall ranking.
• Earlier in 2026, Praggnanandhaa also won the Norway Chess 2026 title, finishing ahead of Magnus Carlsen.
• Final Standings:
• 1st: R. Praggnanandhaa (India) – 23.5 points
• 2nd: Javokhir Sindarov (Uzbekistan) – 22 points
• 3rd: Wesley So (United States) – 20.5 points
• R. Praggnanandhaa is among India's leading chess players and continues to strengthen India's position in international chess through consistent performances in elite tournaments.

About World Chess Federation  

• Full Form: Fédération Internationale des Échecs (FIDE)
• Established: 1924
• Headquarters: Lausanne, Switzerland

CURRENT AFFAIRS : OBITUARIES

Former Madras and Andhra Pradesh High Court Chief Justice Manmohan Singh Liberhan Passed Away at 87

• Justice Manmohan Singh Liberhan, former Chief Justice (CJ) of the Madras High Court (HC) and Andhra Pradesh High Court (HC), passed away on 2 August 2026 at the age of 87.

About Justice Manmohan Singh Liberhan :

• He was born on 11 November 1938 near Chandigarh.
• He began his legal practice at the Punjab and Haryana High Court in 1964.
• He was elected as a Member of the Punjab and Haryana Bar Council in August 1970 and served until 11 February 1987.
• He served as Secretary of the Punjab and Haryana Bar Council from January 1976 to June 1983.
• He was elevated as a Judge of the Punjab and Haryana High Court on 11 February 1987.
• He was appointed Chief Justice of the Madras High Court on 7 July 1997 and later became Chief Justice of the Andhra Pradesh High Court on 28 February 1998.
• Justice Liberhan was appointed as the Chairman of the one-man Liberhan Commission by the then Prime Minister P. V. Narasimha Rao to investigate the 1992 Babri Masjid demolition in Ayodhya, Uttar Pradesh.
• The Liberhan Commission was constituted on 16 December 1992 under the Commissions of Inquiry Act, 1952.
• The Commission investigated the Babri Masjid demolition, which took place on 6 December 1992 in Ayodhya, Uttar Pradesh.
• The Liberhan Commission submitted its final report on 30 June 2009, after 17 years and 48 extensions, making it one of the longest-running commissions of inquiry in India.
• The Punjab and Haryana High Court is a Constitutional Court established under Article 214 of the Constitution of India.

CURRENT AFFAIRS: IMPORTANT DAYS

National Handloom Day 2026 Observed on 7 August

• National Handloom Day is observed every year on 7 August to honour the handloom weaving community and create awareness about the importance of India's traditional handloom sector.
• National Handloom Day 2026 marks the 12th observance of the occasion, which was initiated by PM Narendra Modi on 7 August 2015.
• The first National Handloom Day was celebrated on 7 August 2015 and was inaugurated by PM Narendra Modi.
• The day commemorates the launch of the Swadeshi Movement on 7 August 1905 at Calcutta Town Hall, which encouraged domestic production, indigenous industries, and the use of handloom products.
• The Ministry of Textiles organises special events to celebrate National Handloom Day and recognise the contribution of handloom weavers towards India's cultural and economic heritage.
• Various programmes and exhibitions are conducted across India, including locations such as Varanasi, Jaipur, and Guwahati, to promote handloom products and support artisans.
• The celebration encourages citizens to adopt handloom clothing and strengthen the Vocal for Local and Atmanirbhar Bharat initiatives.
• The Ministry of Textiles celebrates National Handloom Day through special programmes at venues such as Dilli Haat, with activities conducted during the August 1–15 period.

National Javelin Day 2026 Observed on 7 August to Commemorate Neeraj Chopra's Historic Olympic Gold Medal

• National Javelin Day is observed annually on 7 August to commemorate Neeraj Chopra's historic gold medal in the Men's Javelin Throw at the Tokyo Olympics 2020, achieved on 7 August 2021.
• National Javelin Day 2026 marks the 5th observance of the occasion, with grassroots and state-level javelin competitions organised across the country to encourage youth participation.
• The Athletics Federation of India (AFI) declared 7 August as National Javelin Day in 2021 to honour Neeraj Chopra's achievement and promote the sport of javelin throw in India.
• The first National Javelin Day was officially observed on 7 August 2022.
• The day aims to promote javelin throw in schools, colleges, universities, and athletics associations, while identifying and nurturing young sporting talent.
• Neeraj Chopra became the first Indian athlete to win an Olympic gold medal in track and field, achieving a winning throw of 87.58 metres at the Tokyo Olympics.
• The observance highlights India's growing focus on athletics development, grassroots sports promotion, and the Khelo India vision of nurturing future champions.
• Neeraj Chopra's Olympic gold remains India's first-ever Olympic gold medal in athletics (track and field).

About Athletics Federation of India (AFI)

• Established: 1946
• Headquarters: New Delhi
• President: Bahadur Singh Sagoo

Daily CA One- Liner: August 8

• Tamil Nadu Finance Minister N. Marie Wilson presented the first Budget of the TVK Government in the Tamil Nadu Legislative Assembly
• Madhya Pradesh Chief Minister Mohan Yadav announced during the Balram Krishi Mahotsav in Betul that the state has emerged as a leading horticulture state, with a focus on modern farming technologies to enhance agricultural productivity, farmers' income, and exports
• Assam Chief Minister Himanta Biswa Sarma launched the application process for the Mukhya Mantrir Nijut Moina Scheme and Mukhya Mantrir Nijut Babu Scheme
• Union Minister for Road Transport and Highways Nitin Gadkari conferred the Sarvottam Jeevan Raksha Padak on 12 rat miners for their exceptional courage and selfless service during the Silkyara Tunnel Rescue Operation
• Union Minister of Power and Housing & Urban Affairs Manohar Lal and Sri Lanka's Minister of Ports and Civil Aviation & Minister of Energy Anura Karunathilake held a bilateral meeting in New Delhi to review cooperation in the power sector
• Union Minister of Power and Housing & Urban Affairs Manohar Lal held a bilateral meeting with Bhutan's Minister of Energy and Natural Resources, Lyonpo Gem Tshering, in New Delhi
• Indian Grandmaster (GM) R. Praggnanandhaa won his first Saint Louis Rapid & Blitz title in the 2026 Grand Chess Tour (GCT), United States
• National Handloom Day is observed every year on 7 August to honour the handloom weaving community and create awareness about the importance of India's traditional handloom sector
• National Javelin Day is observed annually on 7 August to commemorate Neeraj Chopra's historic gold medal in the Men's Javelin Throw at the Tokyo Olympics 2020, achieved on 7 August 2021.
• The Reserve Bank of India (RBI) conducted the 62nd and 3rd Bi-monthly Monetary Policy Committee (MPC) Meeting of FY 2026-27 from August 3–5, 2026 under the chairmanship of RBI Governor Sanjay Malhotra.
• The Department of Administrative Reforms and Public Grievances (DARPG) released the Centralized Public Grievance Redress and Monitoring System (CPGRAMS) Monthly Report for June 2026, analysing the types, categories and disposal status of public grievances.
• Bajaj General Insurance Limited (formerly Bajaj Allianz General Insurance Company) signed a Memorandum of Understanding (MoU) with Swiss Re Corporate Solutions to explore a partnership in India’s commercial insurance segment.
• Manipal Health Enterprises (MHE), backed by Temasek, has received approval from the Securities and Exchange Board of India (SEBI) for its proposed Initial Public Offering (IPO).
• The 16th BRICS Health Ministers' Meeting was successfully concluded in Chandigarh, India under India’s BRICS Chairship 2026 to strengthen cooperation among BRICS countries on global health challenges.
• Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, facilitated the first-ever export of 24 Metric Tonnes (MT) of Frozen French Fries from Kashipur, Udham Singh Nagar district, Uttarakhand, to Iraq.
• Air India appointed Tewolde Gebremariam, former Chief Executive Officer (CEO) of Ethiopian Airlines Group, as its new Chief Executive Officer & Managing Director (CEO & MD) on 5 August 2026.
• The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved a one-year extension in the service of V. Somanathan, Cabinet Secretary of India.
• The Department of Personnel and Training (DoPT) under the Ministry of Personnel, Public Grievances and Pensions (MoPP&P) approved key foreign postings of senior bureaucrats through the Appointments Committee of the Cabinet (ACC).
• The Government of India (GoI) launched an Offer for Sale (OFS) to divest up to 5% stake in Life Insurance Corporation of India (LIC), making it the largest OFS-based disinvestment in India’s history.
• Adani Navbharat Developers Private Limited (ANDPL), the Special Purpose Vehicle (SPV) implementing the Dharavi Redevelopment Project (DRP), launched "Dharavi Didi", an Artificial Intelligence (AI)-powered conversational assistant for project-related information.
• Justice Manmohan Singh Liberhan, former Chief Justice (CJ) of the Madras High Court (HC) and Andhra Pradesh High Court (HC), passed away on 2 August 2026 at the age of 87.