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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

57th Goods and Services Tax Council Meeting Postponed from September 12 to October 7, 2026

• The 57th Goods and Services Tax (GST) Council meeting was initially scheduled for 12 September 2026 in New Delhi, but has been postponed to 7 October 2026 due to the BRICS Summit being hosted by India on 12–13 September 2026.

Key Highlights :

• The 57th GST Council meeting will be chaired by Union Finance Minister Nirmala Sitharaman and will be attended by Finance Ministers of States and Union Territories.
• The meeting will be held after more than a year, as the previous 56th GST Council meeting was held on 3–4 September 2025, when the Centre and States approved a major GST rate structure overhaul.
• The 57th GST Council meeting is expected to focus on ease of doing business, GST compliance and simplification of GST procedures, although the final agenda is subject to confirmation.
• The meeting is expected to consider simplified GST registration for businesses that pass on tax credits exceeding ₹2.5 lakh per month.
• The Council is also likely to examine automation and proposed changes in the cancellation process of GST registrations.
• Currently, Central GST formations and State GST authorities follow non-uniform procedures for registering large businesses passing on more than ₹2.5 lakh in monthly tax credit, creating uncertainty for taxpayers.
• The 57th GST Council meeting will be preceded by a meeting of government officials on 5–6 October 2026.
• The GST Council is a constitutional body established under Article 279A through the 101st Constitutional Amendment Act, 2016, to recommend policies and measures related to GST to the Union and State governments.
• The GST Council was constituted by the President of India in 2016 and is headquartered in New Delhi, with the Union Finance Minister serving as its Chairperson.
• The GST Council follows the principle of cooperative federalism, with at least 50% of the total members required to constitute the quorum.
• GST Council decisions require a majority of at least three-fourths of the weighted votes of members present and voting, with the Centre having one-third and all States collectively having two-thirds of the voting weight.
• At the 56th GST Council meeting in September 2025, the Centre and States approved a major restructuring of GST rates, which came into effect from 22 September 2025.
• The revised GST structure introduced a two-tier tax system of 5% and 18%, along with a 40% rate for selected ultra-luxury and sin goods.
• The revised structure replaced the earlier four-tier GST rates of 5%, 12%, 18% and 28%, which had been in place since the introduction of GST on 1 July 2017.
• The GST Council had earlier approved a simplified GST registration mechanism for small and low-risk businesses at its September 2025 meeting, and the system was subsequently implemented from 1 November 2025.
• Under the simplified registration scheme, businesses identified as small and low-risk through GST system data analysis, as well as applicants who self-assess their monthly output tax liability at ₹2.5 lakh or less, can opt for the facility.
• The ₹2.5 lakh monthly output tax liability under the simplified scheme includes CGST, SGST/UTGST and IGST.
• There are currently around 68 crore businesses registered under the GST regime.
• The BRICS Summit 2026 is scheduled to be held in New Delhi on 12–13 September 2026, and its discussions are expected to cover key global issues, including the economic fallout of the West Asia crisis.

Bank of Canada Introduces New CAD 20 Note Featuring King Charles III

• The Bank of Canada (BoC) unveiled a new CAD 20 banknote featuring the image of King Charles III.
• King Charles III becomes the first British monarch in over 7 decades to appear on a Canadian currency note, following the death of Queen Elizabeth II in 2022.
• Canada became the first Commonwealth country outside Britain to feature King Charles III on its banknote.
• The new CAD 20 banknote has a unique vertical orientation, making it the second vertical banknote in Canada’s current series after the CAD 10 bill.
• The CAD 10 banknote was selected as the world’s best banknote in 2018 by the International Bank Note Society (IBNS) because of its design.
• The reverse side of the new CAD 20 note features the Vimy Ridge Memorial in France, honouring Canada’s role in World War I.
• The banknote features floral emblems representing Canada’s 13 provinces and territories.
• It also includes culturally significant flowers associated with Canada’s Indigenous population, including wild strawberries, western red cedar, braided sweetgrass, and Arctic cotton.
• According to the Bank of Canada, the new CAD 20 banknote is expected to enter general circulation in early 2027.

Securities and Exchange Board of India and European Securities and Markets Authority Ink Memorandum of Understanding to Enhance Cooperation on Central Counterparties

• The Securities and Exchange Board of India (SEBI) and the European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding (MoU) to strengthen cooperation and information exchange concerning Central Counterparties (CCPs) regulated and supervised by SEBI.
• The MoU was signed by Tuhin Kanta Pandey, Chairman of SEBI, and Verena Ross, Chair of ESMA.
• The new agreement replaces the earlier SEBI–ESMA agreement signed on 21 June 2017.
• The MoU establishes an updated regulatory cooperation framework between Indian and European market regulators amid increasing cross-border financial market activities.
• The agreement allows SEBI-supervised Indian CCPs to re-apply for ESMA recognition under the European Market Infrastructure Regulation (EMIR), as required under Article 25.
• The framework enables ESMA to rely on SEBI’s regulatory and supervisory activities concerning Indian CCPs.
• The arrangement supports financial stability in the European Union (EU) and facilitates international clearing activities.

About Central Counterparty (CCP) :

• It is a financial market infrastructure entity that acts as an intermediary between buyers and sellers, helping manage counterparty risk and facilitating clearing and settlement.

About ESMA :

• Established : 2011
• Headquarters : Paris, France.
• European Securities and Markets Authority (ESMA) is an independent financial regulatory authority of the European Union (EU).

State Bank of India Launches India–UK Comprehensive Economic and Trade Agreement Facilitation Desk to Support Businesses

• State Bank of India (SBI), through its UK operations, has launched a dedicated India–UK Comprehensive Economic and Trade Agreement (CETA) Facilitation Desk to help businesses utilise opportunities created by the bilateral trade agreement.
• The SBI UK CETA Facilitation Desk is a joint initiative of SBI UK and SBI’s London Branch, aimed at strengthening trade and investment ties between India and the United Kingdom.
• The desk will provide guidance and support to businesses looking to expand their trade and investment activities between India and the UK.
• For UK businesses entering India, the desk will provide tailored banking and financial solutions, including trade finance, working capital and term loans, through SBI’s London Branch for professional clients and counterparties.
• UK businesses will also receive India Market-Entry Support, including guidance on potential geographies, states and cities and introductions to relevant Indian counterparts.
• The desk will provide UK businesses with distributor and partner opinion reports, offering insights on existing clients through SBI’s India branch network.
• For Indian businesses entering the UK, the desk will provide trade finance, export finance and bill discounting facilities.
• Indian businesses will also receive UK Market-Entry Support, including guidance on potential sectors and geographies and introductions to relevant UK counterparts.
• The desk will facilitate distributor and buyer connectivity, including information on potential customers and importers in the UK market.
• The India–UK CETA was signed in July 2025 and came into force on 15 July 2026.
• The agreement is expected to double annual bilateral trade, which currently stands at around £47.9 billion, by FY2030.
• The CETA is expected to create new opportunities through substantially lower or zero tariffs, improved market access for goods and services, enhanced mobility for business visitors and professionals, and greater price competitiveness for Indian exports in the UK.
• The agreement is also expected to encourage higher Foreign Direct Investment (FDI), greater cross-border collaboration, and expanded trade and investment opportunities between the two countries.
• Major Indian sectors expected to benefit include Textiles & Garments, Pharmaceuticals, Engineering Goods & Auto-components, IT & Technology Services, Gems & Jewellery, Chemicals, Telecom & Electrical Equipment, Food & Marine Products, Financial & Professional Services, and Leather & Footwear.
• Key UK sectors expected to benefit include Financial Services, Education, Automobiles & Electric Vehicles (EVs), Insurance & Legal Services, Aerospace & Defence, Healthcare & Life Sciences, Green Energy, Retail & Luxury Goods, Advanced Manufacturing, and Alcoholic Beverages.
• The SBI UK India–UK CETA Facilitation Desk was formally inaugurated by Rana Ashutosh Kumar Singh, Managing Director – International Banking, Global Markets and Technology, State Bank of India.

Districts as Export Hubs Initiative Expands to More Than 770 Districts Across India

• The Government of India is strengthening the Districts as Export Hubs (DEH) Initiative to identify products and services with global export potential and connect local producers, MSMEs and enterprises with international markets.
• The DEH Initiative aims to make India’s export growth more inclusive by promoting district-level participation in international trade.
• The initiative builds upon the One District One Product (ODOP) approach but has a broader objective of developing a complete district-level export ecosystem.
• The DEH framework focuses on market access, infrastructure, logistics, quality standards, branding and export readiness.
• As of January 2026, the DEH Initiative covered more than 770 districts across India.
• India’s total exports of goods and services reached an all-time high of US$825.25 billion in 2024–25 and were estimated at US$863.11 billion in 2025–26, according to the PIB.
• The DEH Initiative operates through coordination among the Central Government, State Governments and districts.
• The Department of Commerce provides the overall policy direction for the initiative.
• The Directorate General of Foreign Trade (DGFT) anchors implementation, coordination and monitoring of progress under the DEH initiative.
• The initiative covers diverse products and sectors, including GI-tagged products, agricultural clusters, toy clusters and engineering goods.
• Jalgaon district has been identified for export potential in products such as bananas and Bharit brinjal.
• Bastar district has export potential in iron craft, rice, jowar and maize.
• Other districts have been mapped for sectors and products such as ceramics, tiles, minerals, agro-processing, glass, bamboo craft and cashew.
• The Government has partnered with Exim Bank under its Grassroots Initiatives for Development programme to provide support for district-level export development.
• Six districts have been selected for support under the Exim Bank programme: Anantapur, Raipur, Solan, Tiruppur, Kanpur and Kolhapur.

Pension Fund Regulatory and Development Authority Introduces Standardised Framework for National Pension System Schemes

• The Pension Fund Regulatory and Development Authority (PFRDA) introduced a standardised framework for National Pension System (NPS) schemes through circulars issued, aimed at making scheme selection, comparison and risk assessment easier for subscribers.
• Under the revised framework, NPS schemes will be organised into five broad types: Lifecycle-based Schemes, Active Choice, NPS Sanchay, Multiple Scheme Framework (MSF), and 4A curated/thematic schemes.
• Under NPS Sanchay, the maximum permissible asset allocation will range from 5% to 65%.
• Under Active Choice, NPS subscribers can decide how their contributions are distributed among the available asset classes, subject to PFRDA-prescribed limits.
• For Tier I accounts, the maximum allocation to Equity & related instruments (E) is 75%, while Corporate Bonds (C) and Government Securities (G) can each receive up to 100% allocation.
• Lifecycle schemes automatically adjust the allocation among equity, corporate bonds and government securities according to the subscriber’s age.
• Under the Multiple Scheme Framework (MSF), schemes will be classified into five equity-based risk categories based on their equity exposure.
• Category A – Aggressive Growth will have 80–100% equity exposure, representing the highest equity allocation among the MSF categories.
• Category B – High Growth will have 60–80% equity exposure.
• Category C – Balanced Growth will have 35–60% equity exposure.
• Category D – Conservative will have 10–35% equity exposure.
• Category E – Debt will have 0–10% equity exposure, representing the lowest equity allocation.
• The PFRDA has also standardised the naming convention for MSF schemes to make them easier for subscribers to identify and compare.
• The name of every MSF scheme must follow the format Abbreviation of Pension Fund Name + “NPS” + MSF Category Code + Scheme Name.
• Tier 2 schemes must mention “Tier 2” at the end of the scheme name; an example of the naming format is “XYZ NPS A Retirement Scheme.”
• NPS subscribers can switch between MSF, Lifecycle, Active Choice and Sanchay schemes without affecting the original vesting period.
• A maximum of two change requests per account in a financial year will be permitted for switching between these NPS scheme categories.

About PFRDA:

• Established: 2003 (Statutory status from PFRDA Act, 2013)
• Under which Ministry: Ministry of Finance, Government of India
• Headquarters: New Delhi
• Chairman: Sivasubramanian Ramann
• Purpose: To promote, develop, and regulate the pension sector in India, especially the National Pension System (NPS) and other old-age income security schemes.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Birkbeck, University of London Receives Government Approval to Begin Teaching at Bengaluru Campus

• Birkbeck, University of London has received approval from the Government of India to begin academic operations at its new campus in Whitefield, Bengaluru, Karnataka.
• Students will be able to pursue internationally recognised University of London degrees from the Bengaluru campus starting from the 2026–27 academic year.

Key Highlights

• The campus will provide education aligned with international academic standards and a research-informed curriculum combining academic knowledge with practical applications.
• Programmes offered at the Bengaluru campus include:
  • BSc (Hons) Business Management
  • BSc (Hons) Business Analytics
  • BSc (Hons) Business Management (International Business)
  • MSc International Business Management
  • MSc Business Analytics
• The initiative is expected to provide Indian students with access to internationally recognised higher education while studying in India.
• Professor Sally Wheeler, Vice-Chancellor of Birkbeck, University of London, welcomed the Government of India's approval and highlighted the potential of the campus to prepare students for employment opportunities in India and overseas.
• The new campus is located in Whitefield, a major technology and business hub of Bengaluru, providing students with exposure to a dynamic business environment.

About Karnataka:

• Chief Minister: K. Shivakumar
• Governor: Thawarchand Gehlot
• Capital: Bengaluru
• National Parks: Bandipur National Park, Bannerghatta National Park, Nagarhole (Rajiv Gandhi) National Park, Kudremukh National Park, Anshi (Kali) National Park
• Wildlife Sanctuaries: Bhadra Wildlife Sanctuary, Brahmagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary, Dandeli Wildlife Sanctuary, Mookambika Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Sharavathi Valley Wildlife Sanctuary, Someshwara Wildlife Sanctuary, Talakaveri Wildlife Sanctuary, Ranebennur Blackbuck Wildlife Sanctuary

RECENT NEWS

• Karnataka Prasoothi Araike Yojana is a welfare scheme initiated by the government of Karnataka for mothers and expecting mothers belonging to poor families. It was launched in the year 2007 and is carried out by the Department of Women and Child Development. 

Chhattisgarh Secures First Position Nationally in Jal Sanchay Jan Bhagidari 3.0 Campaign

• Chhattisgarh secured the first position nationally in the third phase of the Jal Sanchay Jan Bhagidari (JSJB) campaign, emerging as a leading state in rainwater harvesting, groundwater recharge and community-led water conservation.
• The campaign is implemented under the Ministry of Jal Shakti through the Jal Shakti Abhiyan: Catch the Rain

Key Highlights

• Under JSJB 3.0, Chhattisgarh recorded 79,775 water conservation structures, of which 77,719 structures have been completed, placing the state at the top nationally.
• In JSJB 1.0, Chhattisgarh created 4,05,561 structures, while under JSJB 2.0, work was initiated on 24,07,456 structures, of which 23,07,768 were completed.
• Chhattisgarh had secured the second position nationally in both JSJB 1.0 and JSJB 2.0.
• Five districts — Surajpur, Mahasamund, Balod, Baloda Bazar-Bhatapara and Kabirdham — featured among India's top 10 districts for water conservation.
• The state's “5 Per Cent Model”, pioneered in Koriya district, encourages farmers to voluntarily dedicate around 5% of their agricultural land for rainwater harvesting and groundwater recharge.
• The initiative promotes active participation of farmers, Gram Panchayats, Jal Sakhis, Jal Mitras and local communities.
• Preliminary estimates indicate that groundwater-stressed blocks classified as critical and semi-critical in Chhattisgarh declined from 26 to 19, while the number of critical blocks is projected to fall to zero.
• The campaign uses geo-tagging, mapping, monitoring and periodic reviews to track water conservation structures.
• CM Vishnu Deo Sai presented Chhattisgarh's community-driven water conservation model at a Ministry of Jal Shakti departmental summit in New Delhi in the presence of PM Narendra Modi.
• Deputy CM Arun Sao highlighted the state's initiatives relating to rainwater harvesting, groundwater recharge and conservation of drinking-water sources.
• CM Vishnu Deo Sai proposed state-specific Catch the Rain plans, State Water Awards, mapping of water conservation structures through BISAG-N, and quarterly reviews chaired by Chief Secretaries.
• The Centre has set a target of creating 2 crore new water conservation structures by 31 May 2027.

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

• Union Home Minister Amit Shah has launched the major public safety initiative by flagging off a new fleet of advanced Dial 112 emergency response vehicles and the modern forensic mobile vans in Raipur, Chhattisgarh. 

Union Government Establishes Three Exclusive National Investigation Agency Special Courts in Andhra Pradesh, Rajasthan and Bihar

• The Union Government has established three new exclusive National Investigation Agency (NIA) special courts in Andhra Pradesh, Rajasthan and Bihar to expedite trials in anti-terrorism cases investigated by the agency.

Key Highlights

• The courts have been designated under Section 11 of the National Investigation Agency Act, 2008, after consultation with the Chief Justices of the respective High Courts.
• The three exclusive courts are located at:
  • Visakhapatnam, Andhra Pradesh
  • Jaipur, Rajasthan
  • Patna, Bihar
• The courts will exclusively handle Scheduled Offences investigated by the National Investigation Agency and will have statewide jurisdiction for cases under the Unlawful Activities (Prevention) Act.
• The move aims to address delays in trials under the National Investigation Agency Act and the Unlawful Activities (Prevention) Act, following the Supreme Court's monitoring of pending anti-terror trials.
• In December 2025, the Union Government informed the Supreme Court that it would establish a dedicated National Investigation Agency court in every State and Union Territory, with additional courts in States having a high number of pending cases.
• In February 2026, the Ministry of Home Affairs proposed establishing exclusive special courts in States having 10 or more National Investigation Agency cases pending trial.
• The Union Government has provided financial assistance of ₹1 crore as a one-time grant for initial expenses and ₹1 crore annually for recurring expenses for each exclusive court.
• The financial support covers requirements such as infrastructure renovation, information technology equipment, vehicles and staff salaries. The Centre will not bear the cost of land or construction of new buildings.
• The Supreme Court has emphasised that exclusive courts should conduct regular and continuous hearings of National Investigation Agency cases and take up other matters only when no National Investigation Agency cases are pending.
• The Court has directed that:
  • More than 15 pending trials: At least 2 exclusive courts
  • More than 25 pending trials: At least 3 exclusive courts
• The establishment of the new courts is expected to reduce delays in trials and minimise prolonged detention of undertrial prisoners caused by congested court schedules.
• The Supreme Court has also directed States to make efforts to complete National Investigation Agency trials in approximately one month through continuous hearings and dedicated Special Public Prosecutors.

About National Investigation Agency:

• Established: 2008
• Headquarters: New Delhi
• Ministry: Ministry of Home Affairs

About Andhra Pradesh:

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

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

About Rajasthan:

• Chief Minister: Bhajan Lal Sharma
• Governor: Haribhau Bagade
• Capital: Jaipur
• National Parks: Ranthambore National Park, Sariska National Park, Keoladeo Ghana National Park, Desert National Park, Mukundra Hills National Park
• Wildlife Sanctuaries: Mount Abu Wildlife Sanctuary, Kailadevi Wildlife Sanctuary, Kesarbagh Wildlife Sanctuary, Todgarh-Raoli Wildlife Sanctuary, Jawahar Sagar Wildlife Sanctuary, Sitamata Wildlife Sanctuary, Ramgarh Vishdhari Wildlife Sanctuary, Bhensrodgarh Wildlife Sanctuary, Phulwari Wildlife Sanctuary

Prime Minister Narendra Modi Highlights Krishna Seshadri’s Bharat Rajya Website for Making Indian History Interactive

• Prime Minister Narendra Modi highlighted the work of Krishna Seshadri, a Mumbai-based engineer, during the 137th episode of Mann Ki Baat.

Key Highlights

• Krishna Seshadri developed Bharat Rajya (bharatrajya.com), a specialised website designed to make Indian history more accessible and interactive.
• The website allows users to select a particular year and view which ruler or dynasty governed different parts of India during that period.
• Despite having an engineering background, Seshadri used technology to create the platform because of his strong interest in Indian history.
• His objective is to introduce people to the major empires and historical rulers of India in an engaging manner.
• During the interaction, Seshadri identified three historical personalities he would like to meet:
  • Rajendra Chola I – prominent ruler of the Chola dynasty, known for his military achievements and contributions to architecture.
  • Hemu (Hemchandra Vikramaditya) – 16th-century military leader and ruler who rose from a trading background.
  • Tribhuvana Mahadevi – prominent ruler of the Bhauma-Kara dynasty of Odisha.
• The initiative highlights the use of technology and digital platforms to preserve and popularise India's historical heritage.

CURRENT AFFAIRS : INTERNATIONAL NEWS

New US $1 Commemorative Coin Featuring Donald Trump Goes on Sale for 250th Anniversary

• The United States launched a new $1 commemorative coin featuring the portrait of President Donald Trump to mark the country’s 250th anniversary in 2026.
• On the obverse (heads) side, the coin features Donald Trump’s portrait, along with the inscriptions “LIBERTY” and “IN GOD WE TRUST”, while “1776–2026” appears below the portrait.
• The reverse side features the Great Seal of the United States, including the bald eagle carrying a banner with the Latin phrase “E PLURIBUS UNUM”, meaning “Out of many, one.”
• The commemorative coins were initially sold in rolls of 25 for $61 and bags of 100 for $154.50, with purchases limited to two orders per household.
• A total of 250,000 randomly distributed coins also carry a special “July 4th” privy mark.
• The issue is significant because US law generally prohibits depicting a living president on US currency, but special legislation for the 250th anniversary created an exception for these commemorative $1 coins.
• Despite its gold-like appearance, the coin is not made of gold; it is primarily composed of copper, along with zinc, manganese and nickel, and is legal tender.
• According to the US Mint, the only previous living US president depicted on a US coin was Calvin Coolidge, whose image appeared on a commemorative half dollar in 1926.

 Prime Minister Narendra Modi Concludes Two-Day Visit to Kyrgyzstan from August 31 to September 1, 2026

• Prime Minister (PM) Narendra Modi undertook a two-day visit to Kyrgyzstan from 31 August to 1 September 2026, as the second leg of his two-country Central Asian tour, following Uzbekistan.
• The visit was undertaken at the invitation of Sadyr Japarov, President of Kyrgyzstan, to attend the 26th Meeting of the Council of Heads of State (CHS) of the Shanghai Cooperation Organisation (SCO) Summit.
• During the visit, PM Narendra Modi attended the opening ceremony of the 6th World Nomad Games in Bishkek, along with several visiting SCO leaders, including Russian President Vladimir Putin and Iranian President Masoud Pezeshkian.
• The 6th World Nomad Games is a biennial traditional sports event held in Bishkek, Kyrgyzstan, from 31 August to 6 September 2026.
• PM Narendra Modi held bilateral meetings with several SCO leaders, including Vladimir Putin, President of Russia, and Masoud Pezeshkian, President of Iran.
• PM Modi presented Sadyr Japarov, President of Kyrgyzstan, a 10-volume English translation of the Mahabharata by eminent Indian economist Bibek Debroy.
• He also gifted Sadyr Japarov a Ladakhi Tsugdul Blanket, a traditional woolen textile from Ladakh.
• A Dokra artwork was presented to Abdylbek Kasymaliev, Prime Minister of Kyrgyzstan.
• PM Modi presented Shavkat Mirziyoyev, President of Uzbekistan, with a sandalwood Shata Tantri Veena, popularly known as Santoor, a traditional musical instrument of Jammu & Kashmir (J&K).
• He also presented two premium variants of Kangra tea from Himachal Pradesh (HP) to the Uzbek President.
• PM Modi gifted Shavkat Mirziyoyev the original handwritten scoresheet of chess Grandmaster Javokhir Sindarov from the 2025 FIDE World Cup final, held in Goa, India.

About Kyrgyzstan :

• President : Sadyr Japarov
• Prime Minister : Adylbek Kasymaliev
• Capital : Bishkek
• Currency : Kyrgyzstani som

 United Nations General Assembly Adopts ‘Correct the Map’ Resolution to Promote Equal Earth Projection

• The United Nations General Assembly (UNGA) adopted the “Correct the Map” resolution with 164 votes in favour, promoting more accurate representation of the world’s geography.
• The resolution promotes the Equal Earth projection as an alternative to the 16th-century Mercator projection for general-purpose world maps.
• The resolution highlights the distortion in the Mercator map, particularly that Africa is about 14 times larger than Greenland, although they can appear relatively similar in size on Mercator maps.
• The resolution was sponsored by Togo and supported by members of the African Union (AU).
• France and the United Kingdom (UK) supported the resolution, while the United States of America (USA) voted against it and six countries abstained.
• The resolution is titled “Correct the Map: Rebalancing Global Cartographic Representation and Promoting Equitable Representation of the World’s Regions, Particularly Africa.”
• The UNGA resolution is non-binding and does not ban the Mercator projection.
• It encourages the wider use of equal-area map projections for general-purpose maps, education, and public communication.
• The Equal Earth projection is an equal-area pseudocylindrical map projection that preserves the relative sizes of countries and continents while maintaining visually recognisable continental shapes.
• The initiative encourages the replacement of distorted maps in education, governance, and media with more geographically representative projections.
• The Mercator projection can continue to be used for navigation, where its accuracy in representing directions remains useful.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Government Appoints New Chairperson, Vice-Chairperson and Members to National Commission for Safai Karamcharis

• The Department of Social Justice and Empowerment, Government of India, appointed the new Chairperson, Vice-Chairperson and Members of the National Commission for Safai Karamcharis (NCSK).
• Shri Bhagwat Prasad Makwana has been appointed as the Chairperson of the NCSK.
• Shri Kaishab Bihari has been appointed as the Vice-Chairperson of the NCSK.
• Shri Manoj Kumar Balmiki, Smt. Sushma Gaudiyal, and Shri Ravi Ramu Kalose have been appointed as Members of the Commission.
• The appointments will remain effective up to 31 March 2028, corresponding to the remaining tenure of the present Commission.
• Bhagwat Prasad Makwana holds a Master’s degree in Economics and has extensive experience in social work and Scheduled Caste welfare; he previously served as Vice-Chairman and Chairman of the Safai Karamchari Commission of Uttarakhand.
• Makwana also served as an Independent Director on the NHPC Board and as a member of the Central Monitoring Committee constituted under the Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013.
• Kaishab Bihari, a farmer from Odisha, holds a Master’s degree in Economics and has worked for the welfare of Scheduled Castes, Scheduled Tribes and other disadvantaged sections.
• Manoj Kumar Balmiki is an entrepreneur and previously served as a Member of the State Safai Karamchari Commission, Uttar Pradesh, from 2019 to 2022, working for Safai Karamcharis and marginalized communities.
• Sushma Gaudiyal is a Professor of Hindi at Bareilly College, Bareilly, and holds a Master’s degree and Ph.D. from Kumaun University, Nainital; she is also a returning Member of the NCSK.
• Gaudiyal’s academic research has covered Dalit literature, Dr. B.R. Ambedkar, women’s empowerment and contemporary socio-political issues.
• Ravi Ramu Kalose is a retired municipal engineer with a Diploma in Civil Engineering and has worked for the welfare, grievance redressal and access to benefits of Safai Karamcharis.
• The newly appointed team is expected to use its experience in social welfare, public service, administration and academia to strengthen the welfare and empowerment of Safai Karamcharis and other disadvantaged sections.
• The Ministry expects the new team to contribute towards safeguarding the rights, dignity and socio-economic well-being of Safai Karamcharis across India.

About National Commission for Safai Karamcharis (NCSK) :

• The National Commission for Safai Karamcharis (NCSK) is a non-statutory body under the Ministry of Social Justice and Empowerment.
• The NCSK was originally established under the National Commission for Safai Karamcharis Act, 1993 and functioned as a statutory body until 2004, when the Act lapsed.
• Since 2004, the NCSK has functioned as a non-statutory body, with its tenure being extended periodically.
• The NCSK’s tenure was extended for three years beyond 31 March 2025, up to 31 March 2028.
• The Commission consists of 1 Chairperson, 1 Vice-Chairperson and 5 Members, including a lady member, along with a Secretary of Joint Secretary rank and supporting staff.
• The NCSK acts as the primary national monitoring body for Safai Karamcharis and tracks data and reviews compensation related to sewer and septic tank deaths in India.
• The Commission monitors the implementation of the Prohibition of Employment as Manual Scavengers and their Rehabilitation Act, 2013.
• It monitors the working conditions, health, safety and wages of Safai Karamcharis and recommends programmes to the Central Government to eliminate inequalities faced by them.
• The NCSK reviews the implementation of schemes for the social and economic rehabilitation of Safai Karamcharis.
• It investigates grievances and takes suo-motu action regarding non-implementation of welfare schemes, guidelines and upliftment measures.
• The Commission submits reports and recommendations to the Central and State Governments on issues affecting Safai Karamcharis.

CURRENT AFFAIRS: AWARDS AND HONOURS

Sarvam Artificial Intelligence Co-Founder Vivek Raghavan Named Among TIME100 Artificial Intelligence 2026’s Most Influential Leaders

• Vivek Raghavan, Co-founder of Sarvam Artificial Intelligence, has been named among the TIME100 Artificial Intelligence 2026, recognising the world's 100 most influential leaders in Artificial Intelligence.
• Raghavan co-founded Sarvam Artificial Intelligence with Pratyush Kumar in 2023, with the aim of developing multilingual Artificial Intelligence models for Indian languages.

Key Highlights

• Sarvam Artificial Intelligence is a Bengaluru-based Indian frontier Artificial Intelligence company focused on developing advanced Artificial Intelligence technologies for India.
• The company has received backing from HCLTech and NVIDIA and is valued at approximately US$1.5 billion, according to the report.
• Sarvam Artificial Intelligence was selected by the IndiaAI Mission to develop India's sovereign Large Language Model ecosystem.
• Under the initiative, the company is developing an open-source 120-billion-parameter Large Language Model aimed at improving governance and access to public services.
• Proposed applications include 2047: Citizen Connect and AI4Pragati.
• Sarvam Artificial Intelligence has also developed Artificial Intelligence models specifically trained for Indian languages, supporting India's multilingual digital ecosystem.
• The company launched Sarvam Vision, a frontier Vision-Language Model, designed to extract and process text from documents in 22 Indian languages and English.
• It subsequently released Sarvam 30B and Sarvam 105B, open-source Artificial Intelligence models.
• Before co-founding Sarvam Artificial Intelligence, Vivek Raghavan was involved in building Aadhaar, India's biometric-based unique identification system.
• The recognition highlights Raghavan's contribution towards building technology infrastructure and Artificial Intelligence solutions that improve accessibility and usefulness of technology.

National Highways Authority of India Announces Green Highways Excellence Awards 2026 for Sustainable Highway Plantation Practices

• The National Highways Authority of India (NHAI) announced the Green Highways Excellence Awards 2026 to recognise best practices in National Highway landscaping, plantation and environmental management.
• The awards aim to encourage healthy plantation practices and environmental sustainability along the National Highway network.
• The awards were presented across three categories:
  • Category I – Avenue Plantations
  • Category II – Median Plantations
  • Category III – Plantation in Land Parcels, including clover leaves, interchanges, toll plazas and service areas.
• Entries were invited from NHAI field offices, concessionaires, contractors, government agencies, Non-Governmental Organisations (NGOs) and private agencies involved in plantation projects along National Highways.

Key Highlights

• 86 nominations were received from across India:
  • 27 for Avenue Plantations
  • 36 for Median Plantations
  • 23 for Plantation in Land Parcels
• After initial screening, 15 nominations — five from each category — were shortlisted for the final assessment.
• Entries were evaluated on parameters including plantation survival rate, plantation plans, timing of plantation, pit size, quality of planting material, protection measures, species diversity, use of native species and compliance with approved designs.
• Plantation survival rate received the highest weightage in the assessment.
• The evaluation also focused on quality, sustainability, effectiveness and replicability of plantation practices across the National Highway network.
• Category I – Avenue Plantations:
  • 1st Prize: Six-Laning of Chilakaluripet Bypass on NH-16, Andhra Pradesh – Regional Office (RO), Vijayawada.
  • 2nd Prize: Eight-Lane Vadodara–Kim Expressway, Padra–Vadodara section of Vadodara–Mumbai Expressway, Gujarat – RO Gandhinagar.
  • 3rd Prize: Gagariya–Bakhasar section of NH-925 and Satta–Gandhav section of NH-925A – RO Jaipur.
  • Consolation Prize: Annual Maintenance including Incident Management of Trichy–Karaikudi section, including Trichy Bypass – RO Madurai.
• Category II – Median Plantations:
  • 1st Prize: Four-Laning of Hyderabad–Yadgiri section of NH-163 – RO Hyderabad.
  • 2nd Prize: Eight-Lane Vadodara–Kim Expressway, Sanpa–Padra section of Vadodara–Mumbai Expressway, Gujarat – RO Gandhinagar.
  • 3rd Prize: Varanasi Ring Road, Package-I, Harahua–Sandaha section of NH-31 – RO Uttar Pradesh East (Varanasi).
• Category III – Plantation in Land Parcels:
  • 1st Prize: Jamtha Clover Leaf and Oxygen Bird Park on NH-44 – RO Nagpur.
  • 2nd Prize: Duhai Interchange land parcels, under Tolling, Operation, Maintenance and Transfer (ToT) Bundle-7, North-East-II – RO Delhi.
  • 3rd Prize: Miyawaki Plantation in Loop Areas at the Lucknow–Ayodhya Road and Lucknow Outer Ring Road intersection – RO Uttar Pradesh West (Lucknow).
• Nominations were submitted through the NHAI online portal and were supported by geo-tagged photographs, drone videos, site-specific plantation plans and plantation survival-rate data.
• The Green Highways Excellence Awards were instituted in 2025 by NHAI in accordance with the Green Highways Policy, 2015.
• The awards reinforce NHAI's commitment to integrating environmental sustainability with National Highway development.

About National Highways Authority of India (NHAI):

• Established: 1988
• Ministry: Ministry of Road Transport and Highways
• Headquarters: New Delhi

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Institute of Technology Madras and UNESCO MGIEP Join Hands to Create Artificial Intelligence-Based Immersive Learning Technologies

• The Indian Institute of Technology Madras (IIT-M) partnered with the United Nations Educational, Scientific and Cultural Organization – Mahatma Gandhi Institute of Education for Peace and Sustainable Development (UNESCO MGIEP) to develop Artificial Intelligence (AI)-based immersive learning technologies for transforming global education systems.
• The agreement was signed in the presence of Obijiofor Aginam, Director of UNESCO MGIEP, Manu Santhanam of IIT Madras, and Manivannan of IIT Madras.
• The collaboration integrates Artificial Intelligence (AI), Extended Reality (XR), and game design with Social and Emotional Learning (SEL) to create immersive and learner-centric education systems.
• The initiative will provide personalised and gamified learning along with real-time emotional feedback for learners.
• The integration of SEL is expected to help reduce teachers’ workload while improving the learning experience.
• The technology is designed to be low-cost and low-bandwidth, supporting wider accessibility to digital education.
• The partnership will promote joint research in education technology, pedagogy, and AI, along with academic exchanges and academic events.
• The initiative aligns with United Nations Sustainable Development Goal (SDG) 4.7, which focuses on inclusive and sustainable education.

About IIT Madras :

• Established : 1959
• Located : Chennai, Tamil Nadu (TN).
• IIT Madras is an Institute of National Importance and is recognised for research and innovation in science and technology.

Unacademy Completes Acquisition by upGrad at $200 Million Valuation

• Unacademy Group completed its acquisition by Ronnie Screwvala-led upGrad through an all-stock transaction valuing Unacademy at just over US$200 million.
• The deal represents a 94% decline from Unacademy’s peak valuation of approximately US$3.4 billion in 2021, reflecting the correction in India’s edtech sector amid tougher funding and consolidation conditions.
• The acquisition covers the entire Unacademy Group and its operating entities, combining upGrad’s higher education, study-abroad, careers and enterprise upskilling businesses with Unacademy’s competitive exam preparation, creator monetisation and language-learning platforms.
• Gaurav Munjal will continue as CEO of Unacademy and will lead the Unacademy Group within upGrad.
• At the time of closing, Unacademy reported a topline of approximately ₹400 crore, with most business lines being profitable or approaching profitability.
• The Unacademy Group had approximately ₹900 crore in cash on its balance sheet at the time of closing.
• Unacademy’s free platform has crossed 10 billion views on YouTube, highlighting its large learning audience.
• Airlearn, Unacademy’s language-learning platform, has become one of the three most downloaded language-learning apps globally, with 10 million learners across 150+ countries.
• All Unacademy Group products will continue operating without disruption, with existing subscriptions, courses, batches and educator agreements remaining valid.
• Existing learners will experience no change in access to their subscriptions and learning services.
• Unacademy Group teams will move to upGrad along with the businesses they operate.
• Over the past three years, Unacademy completed four ESOP buybacks, returning value to its employees.
• The combined upGrad–Unacademy group will cover the full learning spectrum, from competitive examinations and higher education to professional upskilling and careers, while continuing to develop global consumer learning products.

National Commodity and Derivatives Exchange Partners with Cotton Association of India to Promote Cotton Derivatives Trading

• NCDEX (National Commodity and Derivatives Exchange) has entered into a five-year strategic partnership with the Cotton Association of India (CAI) to increase participation in cotton derivatives trading and strengthen price discovery and risk management in India’s cotton sector.
• The partnership was formalised through a Letter of Engagement (LoE) signed in Mumbai by Vikas Goel, Managing Director and CEO of NCDEX, and Vinay Kotak, President of CAI, in the presence of Lalit Kumar Gupta, Chairman-cum-Managing Director of the Cotton Corporation of India (CCI).
• The partnership aims to develop a more robust and transparent price-discovery mechanism and strengthen risk-management tools for participants across India’s cotton supply chain.
• India produces around 20–23% of the world’s cotton and accounts for nearly 38% of global cotton-growing acreage, but its contribution to global cotton price discovery remains limited.
• India’s limited role in global cotton price discovery has been attributed to fragmented physical markets, uneven price transmission and comparatively low participation in derivatives markets.
• The partnership will help strengthen NCDEX’s Cotton Complex, which currently offers derivatives contracts for Kapas, Cottonseed Oil Cake and Cotton Wash Oil.
• The collaboration will encourage greater use of cotton futures trading as a risk-management tool for participants in the cotton value chain.
• The NCDEX–CAI partnership will also help develop cotton contracts more closely aligned with the spot market and promote trading practices consistent with global standards.
• MD and CEO, NCDEX : Vikas Goel

World’s Largest Optical-Infrared Ground-Based Telescope Extremely Large Telescope to Begin Operations Around 2030

• The Extremely Large Telescope (ELT) is being built by the European Southern Observatory (ESO) in Chile’s Atacama Desert and is expected to become the world’s largest optical-infrared ground-based telescope, with operations expected around 2030.
• The ELT will have an 80-metre-high dome and a giant 39-metre primary mirror made up of 798 precisely engineered hexagonal segments.
• The ELT’s 39-metre primary mirror is significantly larger than the 2-metre mirrors of the Very Large Telescope (VLT) and the 6.5-metre mirror of the James Webb Space Telescope (JWST).
• Despite its enormous size, the ELT is designed to operate with extremely high precision to produce highly detailed astronomical observations.
• The massive ELT structure will rotate using high-pressure oil systems, enabling precise movement of the telescope.
• The telescope’s segmented primary mirror will continuously adjust its shape to compensate for atmospheric turbulence, allowing the ELT to produce sharper images.

CURRENT AFFAIRS: SPORTS NEWS

Satwiksairaj Rankireddy and Chirag Shetty Win Men’s Doubles Title at China Masters 2026

• Indian badminton pair Satwiksairaj Rankireddy and Chirag Shetty won the men’s doubles title at the China Masters 2026 in Shenzhen, China.

Key Highlights

• The Indian duo defeated China’s He Ji Ting and Ren Xiang Yu in the final with a score of 11–21, 21–13, 21–17.
• The victory gave India its first-ever men’s doubles title at the China Masters.
• It was Satwik and Chirag’s second title of the 2026 season.
• They had earlier won the Singapore Open Super 750 and finished runners-up at the Thailand Open Super 500.
• In the semifinals, Satwik and Chirag defeated Malaysia’s Nur Mohd Azriyn Ayub and Tan Wee Kiong 21–15, 18–21, 21–11.
• The Indian pair had previously finished runners-up at the China Masters in 2023 and 2025, while reaching the semifinals in 2024.
• The title further strengthens Satwik and Chirag’s position among the leading men’s doubles pairs in international badminton.

CURRENT AFFAIRS: IMPORTANT DAYS

National Teachers' Day 2026 Observed on 5 September

• National Teachers' Day is observed annually on 5 September in India to honour teachers and recognise their contribution to education and nation- building.
• The day marks the birth anniversary of Dr. Sarvepalli Radhakrishnan, former President of India, renowned teacher, scholar and philosopher.
• 5 September has been celebrated as Teachers' Day in India since 1962.
• Sarvepalli Radhakrishnan's students and friends wanted to celebrate his birthday grandly. He suggested that instead of celebrating his birthday, the day should be observed as Teachers' Day.
• Teachers play a vital role in shaping students into responsible citizens and future leaders, thereby contributing to the country's social and economic development.
• Sarvepalli Radhakrishnan served as the second President of India from 1962 to 1967 and was the first Vice President of India from 1952 to 1962.
• He was awarded the Bharat Ratna in 1954, India's highest civilian award.

National Nutrition Week 2026 Observed from 1 to 7 September

• National Nutrition Week is observed annually from 1 September to 7 September to create awareness about the importance of adequate, balanced and nutritious food.
• National Nutrition Week 2026 focuses on promoting awareness about nutrition-rich diets and their long-term benefits for health and well-being.
• The observance highlights the importance of nutrition for health, human development, productivity, economic growth and national development.
• In India, the initiative is particularly important for addressing malnutrition among children and women, with poverty, illiteracy and lack of awareness being major contributing factors.
• The objective is to intensify nutrition awareness and encourage people to adopt healthy dietary practices and an active lifestyle.
• National Nutrition Week was established in 1975 by members of the American Dietetic Association (ADA), now known as the Academy of Nutrition and Dietetics.
• The observance was introduced to educate the public about the importance of good nutrition and maintaining an active lifestyle.
• A balanced diet containing essential proteins, carbohydrates, fats, vitamins, minerals and other nutrients is important for maintaining overall health and preventing nutritional deficiencies.

International Literacy Day 2026 Observed on 8 September

• International Literacy Day (ILD), also known as World Literacy Day, is observed annually on 8 September to create awareness about the importance of literacy and education.
• UNESCO (United Nations Educational, Scientific and Cultural Organization) proclaimed 8 September as International Literacy Day in 1966 during its 14th General Conference.
• International Literacy Day 2026 marks its 60th anniversary.
• The theme for International Literacy Day 2026 is “Literacy for People, the Planet and Prosperity.”
• The day highlights literacy as a matter of dignity and a fundamental human right and emphasises its role in building inclusive and sustainable societies.
• UNESCO observes the day in partnership with governments, local communities, civil society organisations and literacy experts across the world.
• The first International Literacy Day was celebrated in 1967, following UNESCO’s 1966 proclamation.
• The World Conference of Ministers of Education on the Eradication of Illiteracy was held in Tehran, Iran, in 1965, providing an important foundation for the global literacy initiative.
• International Literacy Day 2026 provides an opportunity to assess progress in literacy, address persistent and emerging challenges, and shape future literacy policies in a rapidly changing world.
• UNESCO emphasises that literacy is a fundamental right and an essential foundation for education, human dignity and sustainable development.

Daily CA One- Liner: September 8

• Birkbeck, University of London has received approval from the Government of India to begin academic operations at its new campus in Whitefield, Bengaluru, Karnataka
• Chhattisgarh secured the first position nationally in the third phase of the Jal Sanchay Jan Bhagidari (JSJB) campaign, emerging as a leading state in rainwater harvesting, groundwater recharge and community-led water conservation
• The Union Government has established three new exclusive National Investigation Agency (NIA) special courts in Andhra Pradesh, Rajasthan and Bihar to expedite trials in anti-terrorism cases investigated by the agency
• Prime Minister Narendra Modi highlighted the work of Krishna Seshadri, a Mumbai-based engineer, during the 137th episode of Mann Ki Baat.
• Vivek Raghavan, Co-founder of Sarvam Artificial Intelligence, has been named among the TIME100 Artificial Intelligence 2026, recognising the world's 100 most influential leaders in Artificial Intelligence
• The National Highways Authority of India (NHAI) announced the Green Highways Excellence Awards 2026 to recognise best practices in National Highway landscaping, plantation and environmental management
• Indian badminton pair Satwiksairaj Rankireddy and Chirag Shetty won the men’s doubles title at the China Masters 2026 in Shenzhen, China
• National Teachers' Day is observed annually on 5 September in India to honour teachers and recognise their contribution to education and nation- building
• National Nutrition Week is observed annually from 1 September to 7 September to create awareness about the importance of adequate, balanced and nutritious food
• International Literacy Day (ILD), also known as World Literacy Day, is observed annually on 8 September to create awareness about the importance of literacy and education
• The 57th Goods and Services Tax (GST) Council meeting was initially scheduled for 12 September 2026 in New Delhi, but has been postponed to 7 October 2026 due to the BRICS Summit being hosted by India on 12–13 September 2026.
• The Bank of Canada (BoC) unveiled a new CAD 20 banknote featuring the image of King Charles III.
• The Securities and Exchange Board of India (SEBI) and the European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding (MoU) to strengthen cooperation and information exchange concerning Central Counterparties (CCPs) regulated and supervised by SEBI.
• State Bank of India (SBI), through its UK operations, has launched a dedicated India–UK Comprehensive Economic and Trade Agreement (CETA) Facilitation Desk to help businesses utilise opportunities created by the bilateral trade agreement.
• The Government of India is strengthening the Districts as Export Hubs (DEH) Initiative to identify products and services with global export potential and connect local producers, MSMEs and enterprises with international markets.
• The Pension Fund Regulatory and Development Authority (PFRDA) introduced a standardised framework for National Pension System (NPS) schemes through circulars issued, aimed at making scheme selection, comparison and risk assessment easier for subscribers.
• The United States launched a new $1 commemorative coin featuring the portrait of President Donald Trump to mark the country’s 250th anniversary in 2026.
• Prime Minister (PM) Narendra Modi undertook a two-day visit to Kyrgyzstan from 31 August to 1 September 2026, as the second leg of his two-country Central Asian tour, following Uzbekistan.
• The United Nations General Assembly (UNGA) adopted the “Correct the Map” resolution with 164 votes in favour, promoting more accurate representation of the world’s geography.
• The Department of Social Justice and Empowerment, Government of India, appointed the new Chairperson, Vice-Chairperson and Members of the National Commission for Safai Karamcharis (NCSK).
• The Indian Institute of Technology Madras (IIT-M) partnered with the United Nations Educational, Scientific and Cultural Organization – Mahatma Gandhi Institute of Education for Peace and Sustainable Development (UNESCO MGIEP) to develop Artificial Intelligence (AI)-based immersive learning technologies for transforming global education systems.
• Unacademy Group completed its acquisition by Ronnie Screwvala-led upGrad through an all-stock transaction valuing Unacademy at just over US$200 million.
• NCDEX (National Commodity and Derivatives Exchange) has entered into a five-year strategic partnership with the Cotton Association of India (CAI) to increase participation in cotton derivatives trading and strengthen price discovery and risk management in India’s cotton sector.
• The Extremely Large Telescope (ELT) is being built by the European Southern Observatory (ESO) in Chile’s Atacama Desert and is expected to become the world’s largest optical-infrared ground-based telescope, with operations expected around 2030.