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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Introduces New Framework for Loan Recovery and Engagement of Recovery Agents from January 2027

• The Reserve Bank of India (RBI) has issued revised directions governing loan recovery practices and the engagement of recovery agents to strengthen borrower protection, transparency, and responsible recovery practices.
• The implementation of the revised framework has been extended from 1 October 2026 to 1 January 2027, providing regulated entities additional time to comply with the new requirements.
• The revised framework applies to commercial banks, except Small Finance Banks (SFBs), Payments Banks, Regional Rural Banks (RRBs), and Local Area Banks (LABs).

Key Highlights :

• Recovery agencies can deploy only those recovery agents who have obtained the prescribed certification after completing the Debt Recovery Agents training programme offered by the Indian Institute of Banking and Finance (IIBF) or an institute having a tie-up with IIBF.
• Existing recovery agents who were not previously covered by the certification requirement will receive a one-year transition window to obtain the required IIBF certification or certification from an institute having a tie-up with IIBF.
• The revised framework does not apply to a Regulated Entity’s own employees performing recovery activities, agents collecting regular periodic instalments, or law firms assisting lenders by issuing notices or representing them before courts.
• Banks must publish an updated list of their empanelled recovery agencies on their websites, including the agency’s type, address, period of engagement, and purpose of engagement.
• Borrowers must be informed at least one day before the first recovery visit by a recovery agent and must be immediately notified if the recovery agency is changed or its engagement is terminated.
• Banks must restrict disclosure of borrower information to only the information necessary for recovery purposes, thereby strengthening data privacy and borrower protection.
• Banks are required to record recovery-related calls and preserve the recordings for at least six months.
• RBI has introduced safeguards for technology-based device locking when the bank itself has financed the mobile device of a borrower.
• Device restrictions can begin only after the loan becomes 30 days overdue, provided the borrower has received due notice, while the full set of restrictions can be imposed only after 60 days overdue.
• Recovery agents must properly identify themselves, carry valid authorisation, and interact with borrowers or guarantors in a respectful manner.
• Recovery agents can generally contact borrowers only between 8:00 AM and 7:00 PM, unless the borrower has expressly requested otherwise.
• Banks and third-party service providers are prohibited from accessing sensitive personal data from a borrower’s device, including contacts, SMS, call logs, photographs, and location history.
• If a bank wrongfully restricts a device or delays restoring access after payment, it must compensate the borrower at ₹250 per hour, subject to a maximum compensation equal to the amount of the loan disbursed.
• The revised framework aims to make loan recovery more transparent, accountable, and borrower-friendly, while allowing banks to retain effective mechanisms for recovering legitimate dues.

About RBI :

• Established: 1 April 1935 under the Reserve Bank of India Act, 1934, and serves as India’s central bank.
• Nationalised: 1 January 1949
• Headquarters: Mumbai, Maharashtra
• Governor: Sanjay Malhotra (26th Governor)
• Deputy Governors: Rohit Jain, Shirish Chandra Murmu, Swaminathan Janakiraman, Poonam Gupta
• Wholly Owned by RBI:
• BRBNMPL – Bharatiya Reserve Bank Note Mudran Private Limited
• DICGC – Deposit Insurance and Credit Guarantee Corporation
• ReBIT – Reserve Bank Information Technology Private Limited
• RBIH – Reserve Bank Innovation Hub
• Promoted by RBI (Now Government-owned):
• NABARD – National Bank for Agriculture and Rural Development
• NHB – National Housing Bank

Indian Bank Sanctions ₹500 Crore Micro Small Medium Enterprise Loans During 120th Foundation Day Credit Outreach

• Indian Bank (IB) approved nearly ₹500 crore in Micro Small Medium Enterprise (MSME) loans for 128 beneficiaries during a Credit Outreach Programme held in New Delhi, Delhi, as part of its 120th Foundation Day Fortnight Celebrations.
• The bank also mobilised credit proposals worth nearly ₹1,250 crore, highlighting its efforts to expand MSME credit access.
• The initiative provides faster and paperless loan processing, with in-principle approval in about 30 minutes for eligible MSME borrowers.
• Under the MSME Goods and Services Tax (GST) framework, the lending process uses OTP-based digital documentation, reducing paperwork and processing time.
• Indian Bank launched the Unified MSME Portal, a digital platform designed to provide seamless and integrated lending services to MSME customers.
• The Unified MSME Portal enables digital lending using PAN, GST and Udyam Registration details, supported by Application Programming Interfaces (APIs) and Account Aggregators.
• The digital platform is aimed at improving ease of access to credit, streamlining documentation and making MSME banking services faster and more efficient.
• As part of its Corporate Social Responsibility (CSR) initiatives, Indian Bank distributed wheelchairs and sewing machines to support mobility and livelihood generation.

About Indian Bank (IB) :

• Established : 15 August 1907
• Headquarters : Chennai, Tamil Nadu.
• MD & CEO : Binod Kumar

International Financial Services Centres Authority Approves Standard Chartered to Provide Wealth Management Services from GIFT City

• Standard Chartered Bank received approval from the International Financial Services Centres Authority (IFSCA) to offer wealth management products and services through its branch at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat.
• The approval allows Standard Chartered to provide a wider range of investment solutions to both resident and non-resident clients through India’s International Financial Services Centre (IFSC).
• The bank can now offer retail wealth management services, capital market products, and other expanded financial solutions directly from GIFT City.
• The initiative is expected to strengthen GIFT City’s position as an international financial hub by expanding access to global wealth management capabilities for Indian and international clients.
• The development supports India’s objective of establishing GIFT IFSC as a global financial gateway connecting Indian and international financial markets.
• Standard Chartered Bank became the first foreign bank to commence operations at GIFT City in 2020.
• From its GIFT City centre, Standard Chartered currently provides lending, trade finance, transaction services, and financial markets products to corporate and institutional clients.
• Standard Chartered holds approximately 50% market share among Regional Treasury Centres (RTCs) operating from GIFT City.

Recent News :

• In July 2026, Standard Chartered became the first bank in the world to successfully process a cross-border remittance under SWIFT's new Retail Payments Framework.

About Standard Chartered Bank :

• Established in 1969 through the merger of Standard Bank and Chartered Bank.
• The CEO of Standard Chartered Bank for India & South Asia is PD Singh, while the bank is headquartered in London, United Kingdom.

SBI Life and J&K Bank Join Hands to Expand Insurance Services Across India

• SBI Life Insurance Company Limited entered into a Corporate Agency Partnership with Jammu & Kashmir Bank Limited (J&K Bank) to distribute and service SBI Life insurance products through J&K Bank’s branch network across India.
• The partnership aims to strengthen insurance penetration and financial inclusion by combining SBI Life’s insurance expertise with J&K Bank’s customer network.
• Through the partnership, J&K Bank customers will gain access to SBI Life’s portfolio of protection, savings, retirement, and child insurance plans.
• The insurance products are designed to meet customers’ diverse financial needs and life-stage requirements.
• The partnership supports the Insurance Regulatory and Development Authority of India (IRDAI) vision of “Insurance for All by 2047”.
• The collaboration is expected to expand insurance accessibility by leveraging the extensive branch network of J&K Bank across India.

Recent News :

• In July 2026, SBI Life Insurance Company Limited, one of India's leading private life insurers, entered into a strategic partnership with the Paralympic Committee of India (PCI).

About SBI Life Insurance Company Limited :

• Founded : March 2001
• Headquarters : Mumbai, Maharashtra.
• SBI Life Insurance was established as a joint venture (JV) between State Bank of India (SBI) and BNP Paribas Cardif.

Reserve Bank of India Proposes Revised Credit Valuation Adjustment Framework to Strengthen Risk-Sensitive Capital Norms for Banks

• The Reserve Bank of India (RBI) has proposed a revised Credit Valuation Adjustment (CVA) framework for commercial banks to make capital requirements more risk-sensitive and improve the measurement of risks from derivative transactions.
• Credit Valuation Adjustment (CVA) is an adjustment to the risk-free value of a derivative contract to account for the possibility of counterparty default.
• CVA risk arises when changes in counterparty credit spreads or other market factors reduce the value of a bank’s derivative portfolio.
• The proposed framework is based on the revised Basel Committee on Banking Supervision (BCBS) standards under the final Basel III framework.
• The revised framework will replace the existing RBI CVA framework introduced in 2011.
• Under the draft framework, eligible banks will generally calculate their CVA capital charge using the Basic Approach for Credit Valuation Adjustment (BA-CVA).
• Banks using the BA-CVA approach can choose between the Full BA-CVA and Reduced BA-CVA versions, depending on their ability to recognise eligible CVA hedges.
• Banks with an aggregate notional amount of non-centrally cleared derivatives up to ₹10 lakh crore may opt for a simpler alternative approach instead of calculating CVA capital requirements under BA-CVA.
• Under the simplified option, eligible banks can maintain a CVA capital charge equal to 100% of their Counterparty Credit Risk (CCR) capital charge.
• The proposed CVA framework will apply to commercial banks, while Small Finance Banks, Payments Banks, and Local Area Banks are excluded.
• The revised CVA framework is proposed to come into effect from 1 April 2027.

Reserve Bank of India Grants Muthoot FinCorp Perpetual Authorised Dealer Category-II Licence for Expanded Forex Services

• Muthoot FinCorp received a perpetual Authorised Dealer Category-II (AD-II) foreign exchange licence from the Reserve Bank of India (RBI), allowing it to offer a wider range of regulated foreign exchange (forex) services.
• The perpetual AD-II licence removes the requirement for periodic renewal, while Muthoot FinCorp must continue to comply with applicable RBI foreign exchange regulations.
• Under the licence, Muthoot FinCorp can undertake foreign currency exchange, issue multi-currency forex cards, and facilitate remittances under the Liberalised Remittance Scheme (LRS).
• The company can also facilitate family maintenance remittances and trade-related remittances, subject to applicable RBI regulations and limits.
• In May 2026, RBI expanded the permitted activities of eligible AD-II entities, allowing them to facilitate trade-related remittances up to ₹25 lakh and family maintenance remittances.
• The expanded AD-II framework enables eligible non-bank entities to participate in a larger segment of the trade and remittance business.
• Muthoot FinCorp can provide these forex services through its existing network and establish additional authorised forex branches in accordance with RBI rules.
• The company’s forex services cater to individuals, students travelling overseas, business travellers, NRIs, and businesses.
• Muthoot FinCorp already provides forex-related services such as currency exchange and forex cards, which can now be expanded under the new licence.
• AD-II entities are authorised to undertake certain foreign exchange transactions, but their permitted activities are narrower than those of AD-I entities.
• AD-I entities, typically banks, are authorised to undertake a broader range of foreign exchange transactions compared with AD-II entities.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India’s First High-Altitude Wildlife Safari to Begin in Ladakh

• Ladakh is set to introduce India’s first-ever “High-Altitude Wildlife Safari” on popular snow-leopard and bird-watching trails in its high-altitude regions.
• The initiative was approved by Lieutenant Governor (L-G) Vinai Kumar Saxena to promote responsible eco-tourism, wildlife conservation and sustainable livelihoods.
• The Forest Department will introduce guided Jeep Safaris using specially designed open-back vehicles, operated by trained local drivers and guides.
• The safari model aims to prevent illegal off-roading and disturbance to wildlife, while improving visitor experience and promoting sustainable tourism.
• Possible safari routes will be explored across Hemis National Park, Changthang Wildlife Sanctuary and Karakoram Wildlife Sanctuary, along with Nubra, Zanskar, Sham, Kargil and Drass.
• The decision was taken during the first governing body meeting of the Snow Leopard and High-Altitude Nature (SHAN) Conservation Society, chaired by L-G Vinai Kumar Saxena.
• 20 local youth will be selected and trained in birdwatching, bird identification and bird-spotting, with equipment such as binoculars.
• 10 bird-watching hides will be established at major bird-watching hotspots.
• Ladakh is home to 477 snow leopards, out of India’s estimated 718 snow leopards, making it the region with the country’s largest snow leopard population.
• Ladakh supports more than 38 mammal species, 340 bird species and 1,800 vascular plant species.
• The SHAN Conservation Society was constituted on 16 June 2026 to promote community-led wildlife conservation, waste management, plastic-free tourism, sustainable livelihoods and responsible tourism.
• The initiative follows a community-partnership model, under which local communities will participate actively in wildlife conservation and also gain economic benefits through sustainable tourism.
• Other initiatives approved under the SHAN model include:
• Installation of 300 colour-coded waste bins in 40 villages.
• Introduction of portable cart-based dustbins for waste segregation and handling.
• Launch of a plastic-free tourism campaign across Ladakh.
• Establishment of SHAN Wildlife Clubs in 50 Government schools, with ₹30,000 per school for wildlife excursions.
• Annual wildlife photography fellowships for 10 local youth.
• Installation of interpretative signages in protected areas.
• Training of 50 women artisans to produce miniature wildlife replicas.
• Establishment of wildlife souvenir shops across Ladakh.

About Ladakh:

• Lieutenant Governor: Vinai Kumar Saxena
• Capital: Leh
• National Parks: Hemis National Park
• Wildlife Sanctuaries: Changthang Wildlife Sanctuary, Karakoram Wildlife Sanctuary

RECENT NEWS

• The central government set to strengthen the local self-government in Ladakh has received positive response after the announcement of the establishment of Autonomous Hill Development Councils (AHDC) in each district of the Union Territory.

Tenth BRICS Industry Ministers’ Meeting Concludes in Jaipur under India’s BRICS Chairship 2026

• The Tenth BRICS Industry Ministers’ Meeting concluded in Jaipur, Rajasthan, under India’s BRICS Chairship 2026, bringing together Industry Ministers and senior representatives from BRICS member countries for discussions under the BRICS Partnership on New Industrial Revolution (PartNIR).
• The meeting was held under the theme “Building for Resilience, Innovation, Cooperation and Sustainability”, with discussions focused on strengthening industrial capabilities, technological transformation, innovation, sustainability and practical cooperation among BRICS member countries.
• Piyush Goyal, Union Minister of Commerce and Industry, emphasised that BRICS countries should leverage their complementary strengths to build resilient industries and highlighted PartNIR as the principal mechanism for industrial cooperation. Jitin Prasada, Minister of State for Commerce and Industry, reaffirmed India’s commitment to stronger industrial partnerships based on cooperation, innovation and mutual trust.
• The BRICS journey began with the first BRICS Summit in Yekaterinburg, Russia, in 2009. India, which assumed the BRICS Chairship in 2026 after Brazil’s Chairship in 2025, is pursuing an incremental, proactive and pragmatic approach to strengthen practical cooperation among member countries.
• Under India’s Chairship, important outcomes were achieved through the PartNIR Advisory Group and thematic Working Groups. These included the Framework for Cooperation in the Small and Medium Enterprises (SME) Working Group, the Terms of Reference and Action Plan for the Photovoltaic Industry Working Group, and the Action Plan on innovation-led growth by startups.
• The meeting also highlighted the importance of resilient industrial transport and logistics systems, including Geographic Information System (GIS)-based Infrastructure Planning and City Logistics Planning, to strengthen industrial competitiveness and supply chains.
• A major outcome was the adoption of the Joint Declaration of the Tenth BRICS Industry Ministers’ Meeting, reflecting the collective commitment to move beyond dialogue towards practical instruments of cooperation for strengthening industries, innovation, capacity building and inclusive industrial development.
• BRICS members reaffirmed PartNIR as an important platform for knowledge sharing, capacity building, technological transformation and industrial innovation, with the objective of developing resilient, competitive and future-ready industrial ecosystems.
• Under India’s BRICS Chairship, the 16th BRICS Trade Ministers’ Meeting was also hosted in Jaipur on 7 August 2026, following the Third Meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI) held in New Delhi on 3–4 August 2026.
• The Trade Ministers’ Meeting was chaired by Piyush Goyal, Union Minister of Commerce and Industry.
• Discussions under the Contact Group on Economic and Trade Issues (CGETI) focused on strengthening the multilateral trading system, increasing Micro, Small and Medium Enterprises (MSME) participation in international trade, developing resilient and diversified global value chains, and facilitating cross-border digitally delivered services.
• The BRICS Trade Ministers’ Meeting reaffirmed India’s commitment to an open, inclusive, transparent, equitable and rules-based multilateral trading system, with the World Trade Organization (WTO) at its core.
• The outcomes are also aligned with India’s vision of Viksit Bharat@2047, focusing on resilient supply chains, innovation-led growth and deeper economic cooperation.

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

About Ministry of Commerce and Industry:

• Cabinet Minister: Piyush Goyal
• Constituency: Mumbai North, Maharashtra
• Ministers of State (MoS): Jitin Prasada

RECENT NEWS

• Central Government takes important steps against the outbreaks of the Chandipura Virus Disease (CHPV), it has sent a National Joint Outbreak Response Team (NJORT) to the states of Gujarat and Rajasthan. 

Agricultural and Processed Food Products Export Development Authority (APEDA) Facilitates First-Ever Sea Shipment of GI-Tagged Mithila Makhana to Australia

• The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the first-ever commercial sea shipment of 18 Metric Tonnes of Geographical Indication (GI)-tagged Mithila Makhana from the BIADA Industrial Area, Bihta, Bihar, to Australia.
• The consignment was sourced directly from Makhana growers of Darbhanga district.
• The shipment was flagged off by Vijay Kumar Sinha, Agriculture Minister, Government of Bihar. The initiative is expected to strengthen the international presence of Bihar’s flagship GI product, expand export opportunities and improve farmers’ income through direct international market access.
• The export-oriented value chain enabled farmers to realise nearly 18% higher returns than prevailing market rates. The consignment was exported by NIAD Green, with logistics support from Jitban Supply Chain Private Limited, a startup supported under APEDA’s BHARATI (Bharat's Hub for Agritech, Resilience, Advancement, and Incubation for Export Innovation) initiative.
• The premium-quality raw GI-tagged Mithila Makhana was sourced directly from farmers in Darbhanga district and packed at the BIADA Industrial Area, Bihta, Bihar. The initiative is expected to create sustainable export opportunities for Bihar’s Makhana sector and strengthen the value chain involving growers, processors and exporters.
• Bihar accounts for nearly 85% of India’s Makhana production. A separate Harmonized System (HS) Code for Makhana came into effect from July 2025 under the Finance Act, 2025. During Financial Year 2025–26, India exported more than 7,000 Metric Tonnes of Makhana and value-added Makhana products to over 20 international destinations, including the United States, Middle East and Africa.
• APEDA, under the Ministry of Commerce and Industry, facilitated the export in association with the Department of Agriculture, Government of Bihar. APEDA continues to promote Makhana exports through capacity building, market development, export facilitation and stakeholder engagement, while working with State Governments, exporters, startups, Farmer Producer Organisations (FPOs) and Farmer Producer Companies (FPCs).

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 Australia:

• Capital – Canberra
• Currency – Australian Dollar
• Prime Minister – Anthony Albanese

About APEDA:

• Established – 1986
• Headquarters – New Delhi
• Ministry – Ministry of Commerce and Industry

RECENT NEWS

• Respectable Union Minister Rajiv Ranjan Singh and Respectable Chief Minister Samrat Choudhary will lay the foundation stone of an Integrated Aqua Park in Bhojpur and also inaugurate the NFDB Regional Centre in Patna on 15th June, 2026.

National e-Governance Division Partners with Association of Australian Education Representatives in India to Launch ‘AAERI Verify’

• The National e-Governance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY) has partnered with the Association of Australian Education Representatives in India (AAERI) to launch ‘AAERI Verify’, a digital platform aimed at simplifying and securing the verification of documents for Indian students seeking admission to Australian universities.
• The platform was officially launched during the AAERI Annual Convention in New Delhi on 7 August 2026. It is directly integrated with DigiLocker and enables secure, paperless and consent-based verification of students’ academic, identity and financial documents.
• AAERI Verify is a source-verified authentication platform designed to streamline credential verification for Australian higher education institutions. Through its integration with DigiLocker, students can share authentic, issuer-verified and digitally signed documents directly from the original issuing authorities, reducing dependence on physical documents and manual verification.
• The digital verification process has been divided into two stages: Stage 1 – Student Check, conducted before the university application process begins; and Stage 2 – Sponsor Check, initiated after the student receives an admission offer to verify the authenticity of financial sponsorship documents.
• With the explicit consent of students, Australian universities will be able to access digitally signed records from the original issuing authorities through DigiLocker. The system is expected to reduce fraud, strengthen data privacy, minimise manual verification and speed up the international admission process.
• J. L. Gupta, Director, National e-Governance Division, stated that the collaboration demonstrates how India’s Digital Public Infrastructure (DPI) can address real-world global challenges by providing a secure, paperless and trusted framework for international student admissions.
• About National e-Governance Division: The National e-Governance Division (NeGD) was established in 2009 as an independent business division under the Ministry of Electronics and Information Technology. It provides support in project management, policy formulation, technology appraisal and implementation of e-governance projects and helps integrate digital platforms across various government organisations.
• About DigiLocker: DigiLocker is a flagship Digital Public Infrastructure initiative under the Digital India Programme, implemented through the National e-Governance Division under the Ministry of Electronics and Information Technology.
• It provides citizens with a secure, consent-based digital platform to store, access, share and verify authentic documents issued by authorised organisations. As of 2026, DigiLocker has over 72 crore registered users.
• DigiLocker supports digitally signed documents issued by authorised institutions and enables secure sharing and real-time verification, helping reduce the dependence on physical documents and improving the efficiency of digital public services.
• The platform is already connected with several major government workflows and organisations, including the Union Public Service Commission (UPSC), Ministry of External Affairs (MEA) and NITI Aayog, demonstrating the expanding role of India’s Digital Public Infrastructure.
• The AAERI Verify–DigiLocker partnership represents an expansion of India’s domestic digital document ecosystem into the international higher education sector, particularly benefiting Indian students applying to Australian universities.

Meeting of Heads of BRICS Competition Authorities Held Under India’s BRICS Chairship 2026

• Under India’s BRICS Chairship 2026, the Meeting of Heads of BRICS Competition Authorities was organised by the Competition Commission of India (CCI) in Udaipur, Rajasthan.
• The meeting brought together heads and senior representatives of competition authorities from BRICS member countries to strengthen cooperation in promoting fair competition and addressing emerging challenges in competition law and policy.
• Ravneet Kaur, Chairperson of the Competition Commission of India, highlighted the shared responsibility of BRICS competition authorities to promote competitive markets, efficiency, consumer welfare, innovation and merit-based competition. .
• The Heads of BRICS Competition Authorities exchanged views on recent developments in competition law and policy, including significant enforcement initiatives, institutional developments and emerging challenges in their respective domestic markets.
• As part of India’s BRICS Chairship, the Competition Commission of India steered a collaborative study titled “Emerging Competition Landscape in the Renewable Energy Sector in BRICS”.
• The study aimed to develop a better understanding of evolving competition dynamics in renewable energy markets across BRICS jurisdictions and identify areas for future cooperation. The key findings of the study were presented during the meeting.
• A Joint Statement titled “Strengthening Cooperation to Promote Fair Competition, including in Renewable Energy Markets” was adopted by the Heads of BRICS Competition Authorities.
• The statement reflects their shared commitment to promoting competitive, innovative, resilient and sustainable renewable energy markets and enhancing knowledge-sharing on emerging competition issues associated with the global energy transition.
• The Administrative Council for Economic Defense (CADE), Brazil, briefed the participants on preparations for the 10th BRICS International Competition Conference, scheduled to be held in Brazil in 2027.
• The meeting concluded with the Heads of BRICS Competition Authorities reaffirming their commitment to continued cooperation, dialogue and knowledge-sharing to promote effective competition enforcement and address emerging challenges in increasingly interconnected markets.

About Competition Commission of India:

•  The Competition Commission of India (CCI) is a statutory body established under the Competition Act, 2002 and became operational in 2009. Its headquarters is in New Delhi. Its key objectives are to eliminate practices having an adverse effect on competition, promote and sustain competition, protect consumer interests and ensure freedom of trade in Indian markets.

About BRICS:

• BRICS is an intergovernmental grouping that promotes cooperation among member countries in areas including economy, trade, finance, investment, energy, technology and sustainable development. India holds the BRICS Chairship in 2026.

CURRENT AFFAIRS: AWARDS AND HONOURS

Kroll Celebrity Brand Valuation 2025: Shah Rukh Khan Emerges as India’s Most Valuable Celebrity

• Kroll, an American global financial advisory firm, released the 11th edition of the ‘Kroll Celebrity Brand Valuation 2025’ report.
• Shah Rukh Khan emerged as India’s most valuable celebrity, securing the 1st position with a brand value of USD 177.9 million.
• Ranveer Singh retained the 2nd position with a brand value of USD 162.9 million.
• Virat Kohli slipped from 1st position in 2024 to 3rd position in 2025, with a brand value of USD 158.4 million.
• Sachin Tendulkar moved up to 4th position, with a brand value of USD 125.9 million.
• Mahendra Singh Dhoni improved from 7th position in 2024 to 5th position in 2025, with a brand value of USD 115.3 million.
• Alia Bhatt ranked 6th with a brand value of USD 93.9 million, retaining her position as the most valuable female celebrity in India.
• Deepika Padukone ranked 7th with a brand value of USD 89.2 million.
• The combined brand value of India’s top 25 celebrities stood at approximately USD 2 billion, registering a 3.7% decline compared with the previous year.
• 12 women featured in the Top 25, compared with 9 women in 2024.
• Women celebrities recorded a 30% increase in both brand value and endorsement count, while accounting for approximately 10% of the total male celebrity brand value since 2023.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Supreme Court Collegium Proposes Four Judges for Chief Justice Posts in High Courts

• The Supreme Court Collegium, headed by Chief Justice of India (CJI) Surya Kant, recommended the elevation of four judges as Chief Justices of different High Courts at its meeting held on 6 August 2026.
• The recommendations concern the Patna High Court, Calcutta High Court, Bombay High Court, and Punjab and Haryana High Court.

Key Highlights :

• Justice V. Kameswar Rao, presently a judge of the Delhi High Court, was recommended for appointment as Chief Justice of the Patna High Court.
• Justice V. Kameswar Rao was appointed an Additional Judge of the Delhi High Court in April 2013 and became a Permanent Judge in March 2015.
• Justice V. Kameswar Rao was transferred to the Karnataka High Court in 2024 and was repatriated to the Delhi High Court in July 2025.
• Justice Ravindra V. Ghuge, a judge of the Bombay High Court, was recommended for appointment as Chief Justice of the Calcutta High Court.
• Justice Ravindra V. Ghuge is serving as the Acting Chief Justice of the Bombay High Court following the appointment of Justice Shree Chandrashekhar to the Supreme Court.
• Justice Ravindra V. Ghuge was elevated as a High Court judge in 2013.
• Justice Mahesh Chandra Tripathi, presently a judge of the Allahabad High Court, was recommended for appointment as Chief Justice of the Bombay High Court.
• Justice Mahesh Chandra Tripathi was elevated as an Additional Judge of the Allahabad High Court in September 2013 and became a Permanent Judge in April 2015.
• Justice Ashwani Kumar Mishra, whose parent High Court is the Allahabad High Court and who is presently serving as a judge of the Punjab and Haryana High Court, was recommended for appointment as Chief Justice of the Punjab and Haryana High Court.
• Justice Ashwani Kumar Mishra took oath as an Additional Judge in February 2014 and became a Permanent Judge in February 2016.
• Justice Ashwani Kumar Mishra was transferred to the Punjab and Haryana High Court in July 2025.

Enforcement Directorate Director Rahul Navin Gets One-Year Tenure Extension

• The Appointments Committee of the Cabinet (ACC) approved a one-year extension for Enforcement Directorate (ED) Director Rahul Navin beyond 13 August 2026.
• Rahul Navin will continue as ED Director up to 13 August 2027, including extension in service beyond his superannuation date of 31 July 2027, or until further orders, whichever is earlier.
• Rahul Navin is a 1993-batch Indian Revenue Service (IRS) officer of the Income Tax cadre and has been serving as the ED chief since September 2023.
• Rahul Navin joined the Enforcement Directorate in November 2019 as a Special Director (OSD), where he was involved in work related to India’s Financial Action Task Force (FATF) mutual evaluation.
• He was given additional charge as ED Director on 15 September 2023 and was appointed full-time ED Director on 14 August 2024.
• The latest extension is Rahul Navin’s first extension in service as ED Director.
• Under the applicable rules, an ED Director can initially be appointed for two years, followed by three one-year extensions.
• During Rahul Navin’s tenure, the ED has undertaken several high-profile financial crime investigations, including cases involving I-PAC, Reliance Anil Ambani Group, and online money gaming companies.
• The ED has also focused on real-estate fraud cases involving homebuyers and used anti-money laundering provisions to restore assets to victims.
• He has authored several books, journals and articles relating to international taxation and transfer pricing.
• Rahul Navin has around 30 years of experience in the Income Tax Department, particularly in the international taxation wing.
• The Enforcement Directorate (ED) investigates financial crimes under the Prevention of Money Laundering Act (PMLA) and the Fugitive Economic Offenders Act (FEOA) and also deals with civil provisions under the Foreign Exchange Management Act (FEMA).
• In May 2026, CBI Director Praveen Sood was also granted a one-year extension, following an earlier extension in May 2025.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Government Says ISRO’s NavIC Cannot Currently Provide Standalone Navigation Services

• For the first time, the Government informed Parliament that India’s NavIC (Navigation with Indian Constellation) currently cannot provide standalone positioning services because only three navigation satellites are operational, whereas at least four satellites are required for independent navigation.
• The disruption occurred after IRNSS-1F, launched in March 2016, completed its 10-year mission life, after which its onboard atomic clock stopped functioning.
• At present, IRNSS-1B, IRNSS-1I, and NVS-01 are providing Positioning, Navigation and Timing (PNT) services for NavIC.
• NavIC is India’s indigenous regional satellite navigation system, developed by the Indian Space Research Organisation (ISRO) under the Indian Regional Navigation Satellite System (IRNSS).
• NavIC is designed to provide accurate Positioning, Navigation and Timing (PNT) services across India and up to 1,500 km beyond India’s borders.
• The original NavIC system is designed around a constellation of seven satellites, enabling reliable regional navigation and timing services.
• The current reduction in satellite availability means NavIC has temporarily lost its standalone positioning capability, but there is no major impact on users because most modern devices use multi-constellation GNSS receivers.
• Smartphones, aircraft, ships, vehicles, and the Armed Forces commonly use multi-constellation receivers that combine signals from multiple satellite navigation systems for accurate positioning.
• The major global navigation systems used alongside NavIC include GPS (USA), Galileo (European Union), GLONASS (Russia), BeiDou (China), and NavIC (India).
• The use of multi-constellation GNSS receivers ensures continued navigation capability even when one satellite navigation constellation faces reduced availability.
• To restore NavIC’s full independent navigation capability, ISRO has announced that NVS-03 is ready for launch.
• NVS-04 and NVS-05 are currently in advanced stages of development and are expected to strengthen the NavIC satellite constellation.

CSIR-Central Road Research Institute Presents Indigenous MSS+ Road Technology to Rajasthan Government

• CSIR-Central Road Research Institute (CSIR-CRRI), New Delhi presented its indigenously developed Modified Mix Seal Surfacing Plus (MSS+) Technology to Srinivas, IAS, Chief Secretary, Government of Rajasthan, at the Rajasthan Secretariat.
• The MSS+ Technology is designed to promote sustainable, cost-effective, and environmentally friendly road construction and maintenance.
• The technical presentation was delivered by Satish Pandey, Senior Principal Scientist and Head, Flexible Pavement Division, CSIR-CRRI.
• The initiative followed a request from N. Kalaiselvi, Director General, CSIR and Secretary, DSIR, Government of India, to the Chief Secretary of Rajasthan to consider CSIR-CRRI’s indigenous green road technologies for sustainable infrastructure development.

Key Highlights :

• MSS+ Technology can help extend pavement life while reducing construction emissions, energy consumption, and maintenance costs.
• During the presentation, CSIR-CRRI highlighted the scientific basis, field performance, economic advantages, and environmental benefits of the MSS+ technology.
• CSIR-CRRI also conducted a live demonstration on a Jaipur city road using the MSS+ Smart Mix Pro Automatic Plant, developed indigenously by CSIR-CRRI.
• The MSS+ Smart Mix Pro Automatic Plant is described as India’s first indigenously developed automatic mobile mixing plant specifically designed for Modified Mix Seal Surfacing.
• The automatic plant enables automated proportioning and mixing of materials, ensuring consistent quality and minimising material wastage.
• The plant reduces manual intervention and improves the speed and efficiency of road construction and maintenance operations.
• The live demonstration showcased the ease of execution, rapid construction methodology, surface finish, and operational efficiency of MSS+ Technology.
• The technology supports resource efficiency, low-carbon infrastructure, and climate-resilient transportation systems, contributing to India’s vision of innovation-driven and sustainable infrastructure development.

Union Minister Dr. Jitendra Singh Inaugurates First-of-Its-Kind CSIR-NBRI Eco-Educational Hub in Lucknow

• Union Minister Dr. Jitendra Singh, Minister of State (Independent Charge) for Science & Technology and Earth Sciences and Vice-President, CSIR, dedicated the first-of-its-kind CSIR-NBRI Eco-Educational Hub ‘Prakriti Gyan Dham’ to the nation at the Maharishi Parashar Bioresource Centre (MPBC), Banthra, Lucknow.
• Jitendra Singh called for bringing the work of scientific institutions closer to society by systematically showcasing their technologies, success stories, and societal applications.
• He emphasised greater use of digital and social media platforms to make scientific solutions accessible to farmers, entrepreneurs, students, industries, and other stakeholders.
• He also called for greater inter-departmental and inter-ministerial coordination to integrate complementary projects and maximise the societal impact of scientific research and innovation.

Key Highlights :

• The Eco-Educational Hub represents the convergence of scientific research, environmental education, biodiversity conservation, botanical heritage, and cultural interpretation.
• The Hub has been designed as a living repository of India’s botanical and cultural legacy, providing an immersive learning environment for students, researchers, educators, nature enthusiasts, and the general public.
• The Hub provides a direct interface between scientific knowledge and public engagement through experiential and interactive learning about India’s plant diversity, conservation, and botanical heritage.
• PAaVan Path (Plants and Associated Vegetations for Appreciating Nature) is the central experiential component of the Hub and functions as an interpretive heritage trail showcasing curated plant collections from diverse ecological regions.
• The Indian Heritage Garden contains heritage trees propagated from historically significant locations across India, linking botanical heritage with the country’s history and culture.
• The Indian Heritage Garden includes the Bawan Imli Tamarind Tree of Fatehpur, associated with the sacrifice of 52 freedom fighters, the Mother Dussehri Mango Tree of Lucknow, the Patalpuri Banyan of Prayagraj, and the Mango Tree planted by Mahatma Gandhi at Bhitiharwa, Champaran.
• The garden also includes descendants of trees associated with the historic Dandi March route in Gujarat, further connecting botanical conservation with India’s freedom movement.
• QR-enabled audio systems have been installed in the Heritage Garden to provide visitors with historical, cultural, and botanical information through smartphones, making the landscape an interactive learning space.
• The Vibhav Enclave – Threatened Plants of India Garden provides a dedicated space for rare, endangered, and threatened plant species and raises awareness about biodiversity loss, habitat degradation, climate change, and conservation of plant genetic resources.
• The Bhairav Enclave – State Plants of India Garden showcases the officially designated State Plants of States and Union Territories and highlights their ecological, cultural, and symbolic significance.
• The Bamboosteum houses 43 indigenous and exotic bamboo species and demonstrates bamboo’s importance as a renewable bioresource.
• Bamboo has applications in ecological restoration, carbon sequestration, soil conservation, sustainable livelihoods, traditional craftsmanship, and green infrastructure.
• The programme also highlighted the science-to-society approach through the launch and transfer of several plant-based technologies and products.
• An herbal formulation for male reproductive health, developed in collaboration with Himalaya, was formally launched during the programme.
• Four plant-based technologies—Herbal Anti-Dandruff Hair Care Oil, Frotus: Lotus-inspired Perfume, Frotus: Rudra Perfume, and Herbal Nano Serum—were transferred to the Kudumbashree State Poverty Eradication Mission, Kerala.
• The transfer of these technologies aims to promote women-led entrepreneurship and livelihood generation through science-based value-added products.
• CSIR-NBRI transferred the Design and Development of a Low-Cost Photobioreactor technology to Witwake Solutions Pvt. Ltd., Lucknow, strengthening industry-academia collaboration.
• During the programme, Jitendra Singh released a documentary on India’s Heritage Gardens, highlighting the country’s botanical wealth and its cultural, historical, and ecological significance.

University of Hyderabad Secures Patent for HYDERACENE Material for Defence and Space Rocket Propellants

• University of Hyderabad (UoH) secured Indian Patent No. 596319 for HYDERACENE, a novel polymer-based material developed for solid rocket propellants used in defence and space applications.
• The patent was granted on 21 July 2026, with University of Hyderabad as the patentee.
• HYDERACENE was developed by Mutyalanaidu Ganivada, Sourav Jana, and Prof. Tushar Jana of the School of Chemistry, University of Hyderabad.
• HYDERACENE is a dual-function material that acts as both a polymer binder and a burn-rate catalyst, eliminating the need for two separate materials in solid rocket propellants.
• The patented material is formally described as Ferrocene Polyethylene Glycidyl Grafted Hydroxyl-Terminated Polybutadiene and was synthesised using ring-opening polymerisation.
• In solid rocket propellants, the binder acts as a glue-like polymer that holds the fuel components together and provides structural integrity.
• A burn-rate catalyst is a specialised chemical additive that helps speed up and control the combustion rate of the propellant.
• HYDERACENE combines these two functions into a single polymer binder-cum-catalyst, improving the stability, efficiency, and control of combustion in solid rocket motors.
• The dual-function design can improve long-term stability by reducing the possibility of the catalyst separating from the binder over time.
• HYDERACENE has been developed as an indigenous alternative to BUTACENE, an imported burn-rate modifier used in aerospace and defence applications.
• BUTACENE is largely imported from European countries, making HYDERACENE significant for reducing dependence on imported aerospace and defence materials.
• The innovation is designed for high-performance rocket propellants and advanced defence applications requiring controlled burn rates and improved propulsion efficiency.
• The name HYDERACENE is derived from Hyderabad, where the University of Hyderabad is located.

WHO-South-East Asia Regulatory Network Recognizes Indian Pharmacopoeia Commission as Centre of Excellence in Pharmacovigilance and Pharmaceutical Quality

• The Indian Pharmacopoeia Commission (IPC), under the Ministry of Health and Family Welfare, Government of India, participated in the 10th Anniversary Meeting of the South-East Asia Regulatory Network (SEARN) held in Kathmandu, Nepal, on 4–5 August 2026.
• The South-East Asia Regulatory Network (SEARN) was established by the WHO South-East Asia Regional Office (WHO-SEARO) in 2016 to strengthen drug regulatory systems across member countries.
• SEARN promotes knowledge sharing, regulatory convergence, capacity building, and reliance mechanisms among National Regulatory Authorities (NRAs).
• SEARN works through thematic groups covering quality assurance, pharmacovigilance, clinical trial oversight, regulatory preparedness, and medical device regulation.
• The main objective of SEARN is to improve access to safe, effective, and quality-assured medical products across the WHO South-East Asia Region.
• A major achievement at the meeting was the recognition of IPC as the WHO-SEARN Regional Centre of Excellence in Pharmacovigilance and the Technical Centre in Quality.
• The recognition acknowledges IPC’s contribution to strengthening medicine safety, pharmacovigilance systems, pharmaceutical quality standards, and regulatory capacity-building in the region.
• The designation further strengthens IPC’s role in pharmacopoeial science, pharmaceutical standards, and regional regulatory harmonisation.
• IPC highlighted India’s initiatives including the development and publication of the Indian Pharmacopoeia, establishment of Indian Pharmacopoeia Reference Substances (IPRS) and Impurity Reference Standards (IMPRS).
• IPC also highlighted its Pharmacovigilance Programme of India (PvPI) and Materiovigilance Programme of India (MvPI), along with various capacity-building programmes and international collaborations.
• The IPC delegation included V. Kalaiselvan, Dr. Jai Prakash, Dr. Robin Kumar, and Mr. Arvind Kumar Sharma.

ICAR-National Institute of High Security Animal Diseases Bhopal Develops India’s First Indigenous Live Attenuated Vaccine Against African Swine Fever

• ICAR–National Institute of High Security Animal Diseases (ICAR-NIHSAD), Bhopal has developed India’s first indigenous MA-104 cell line-based live attenuated vaccine against African Swine Fever (ASF).
• The vaccine was developed by the Indian Council of Agricultural Research (ICAR) using an attenuated ASF Virus (ASFV) Genotype II with unique gene deletions.
• The vaccine uses the MA-104 cell line, which is widely available and enables large-scale, cost-effective vaccine production without dependence on proprietary manufacturing platforms.
• African Swine Fever (ASF) is a highly contagious viral disease affecting domestic and wild pigs, with mortality rates that can reach nearly 100%.
• ASF was first detected in India in 2020 and has caused significant pig mortality, economic losses, trade disruptions, and livelihood losses, particularly among smallholder pig farmers in North-East India.
• ASF outbreaks in Assam during 2020–2021 caused estimated losses of around ₹276 crore due to pig mortality and culling.
• In Mizoram, ASF affected more than 11,382 households up to 2025, resulting in reported financial losses of nearly ₹982 crore.
• The vaccine has undergone comprehensive laboratory evaluation for sterility, purity, safety, genetic stability, immunogenicity, protective efficacy, and virulence reversion.
• The vaccine was also field-validated in collaboration with the Department of Animal Husbandry and Dairying (DAHD), Ministry of Fisheries, Animal Husbandry and Dairying, confirming its safety and effectiveness under field conditions.
• The vaccine is recommended for healthy pigs above 8 weeks of age and is administered as a 1 mL intramuscular primary dose, followed by a booster dose after 14 days.
• The indigenous vaccine is expected to reduce pig mortality, minimise economic losses, and improve the livelihoods of pig farmers affected by ASF.
• The vaccine will strengthen India’s animal health security, disease preparedness, food security, and biosecurity and support the sustainable development of the pig farming sector.
• Unlike some commercially licensed ASF vaccines that depend on patented proprietary cell lines, the Indian vaccine uses the widely available MA-104 cell line, reducing manufacturing dependence and costs.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Lohia Aerospace Systems and Massivit Sign Memorandum of Understanding for Large-Format 3D Printing Technology in India

• Lohia Aerospace Systems Private Limited has signed a Memorandum of Understanding (MoU) with Massivit, an Israel-based large-format additive manufacturing company, to introduce advanced large-format 3D printing technology for composite tooling and critical aerospace components in India.
• The partnership has been established under a Joint Manufacturing Alliance and will mark the first commercial deployment of Massivit’s large-format 3D printing technology for composite manufacturing in India.
• The technology will be installed at Lohia Aerospace Systems’ facility in Kanpur, Uttar Pradesh.
• Lohia Aerospace Systems plans to invest around US$8–10 million over the next 1–2 years, with further investment depending on market demand.
• The company is undertaking a 250,000-square-foot expansion at its Kanpur facility, in addition to its existing 80,000-square-foot manufacturing unit.
• The platform will enable the production of moulds and production tools within days instead of weeks, potentially reducing production cycles by up to 90%.
• Each printer can produce approximately 1–2 complete tool sets per day, with the company planning to deploy 8–10 printers initially.
• The project is expected to create around 60–100 skilled employment opportunities.
• The initiative will help replace largely manual tooling processes in India's composite manufacturing sector with additive manufacturing, improving production speed, quality and cost efficiency.
• Manufacturing costs for customers could be reduced by up to 50%, while dependence on imported tooling is expected to decline.
• Lohia Aerospace Systems will provide manufacturing infrastructure, quality control, finishing and customer delivery under the alliance.
• Lohia Aerospace Systems will hold exclusive rights for the technology in India's aerospace and defence sector, including Unmanned Aerial Vehicles (UAVs) and manned aircraft production.
• The initiative is expected to strengthen India's domestic aerospace and defence manufacturing ecosystem and support Atmanirbhar Bharat.
• The technology will also have potential applications beyond aerospace, including other composite manufacturing industries.
• The partnership will use Massivit's RapidWings manufacturing platform, which was launched in 2026 for aerospace and defence applications.

About Lohia Aerospace Systems Private Limited

• Headquarters: Kanpur, Uttar Pradesh, India
• Sector: Aerospace and Defence
• Established: 2019 as part of the Lohia Group's expansion into aerospace composite manufacturing. (Lohia)

About Massivit

• Headquarters: Lod, Israel
• Founded: 2013

CURRENT AFFAIRS: RANKING AND INDEX

Times Higher Education Sustainability Impact Ratings 2026

• Times Higher Education (THE) released the 8th edition of the Sustainability Impact Ratings 2026, which measures the contribution of universities towards the United Nations Sustainable Development Goals (SDGs).
• The University of Manchester, United Kingdom secured the 1st position overall in the Sustainability Impact Ratings 2026.
• Manipal Academy of Higher Education (MAHE) secured the 1st position globally in Sustainable Development Goal 5 (Gender Equality) while retaining its position in the 101–200 global band.
• The results were announced at the Global Sustainable Development Congress held in Jakarta, Indonesia.
• The 2026 rankings evaluated 1,646 universities from 116 countries and territories across 17 individual Sustainable Development Goal tables and one overall ranking.
• The rankings assess how universities contribute to sustainability and social impact through their research, teaching, outreach and institutional activities.
• Mali, Nicaragua, Niger and Tajikistan made their debut in the global rankings in 2026.

About United Kingdom

• Capital: London
• Currency: Pound Sterling
• Andy Burnham is the Prime Minister of the United Kingdom

About Indonesia

• Capital: Jakarta
• Currency: Indonesian Rupiah
• President: Prabowo Subianto

Brand Finance India 100 2026: Tata Group Retains India’s Most Valuable Brand for 10th Consecutive Year

• Brand Finance released the Brand Finance India 100 2026 report, ranking India’s most valuable and strongest brands.
• The 100 most valuable Indian brands collectively reached a brand value of USD 252.8 billion in 2026, registering a 7% increase over the previous year.
• 9 of the top 10 brands recorded an increase in brand value despite challenging global economic conditions.
• Tata Group retained the position of India’s most valuable brand for the 10th consecutive year.
• Tata Group’s brand value increased by 7% to USD 33.6 billion, supported by investments in electronics, semiconductors, digital infrastructure and electric mobility, along with recovery in its stock value.
• Infosys retained the 2nd position for the fifth consecutive year, with its brand value remaining at USD 16.4 billion. Growth was supported by demand for Artificial Intelligence (AI), cloud computing and digital transformation services.
• Life Insurance Corporation of India (LIC) Group ranked 3rd, with brand value increasing 12% to USD 15.3 billion.
• HDFC Group remained among the leading brands, with its brand value declining 2% to USD 13.9 billion.
• Reliance Group recorded an 11% increase in brand value to USD 10.8 billion, driven by expansion in retail, telecommunications, digital services, energy, consumer businesses and new energy.
• State Bank of India (SBI) Group recorded a 2% increase in brand value to USD 9.8 billion.
• HCLTech recorded a brand value of USD 9 billion, supported by digital transformation and increasing demand for Artificial Intelligence-driven services.
• Adani Group entered the Top 10 most valuable Indian brands for the first time, with its brand value rising 31% to USD 8.5 billion.
• Larsen & Toubro (L&T) Group recorded a 12% increase in brand value to USD 8.3 billion, supported by its strong order book and projects across infrastructure, engineering, defence, energy and technology.
• Airtel recorded a 6% increase in brand value to USD 8.1 billion, driven by network expansion, digital services and customer experience initiatives.

Top 10 Most Valuable Indian Brands – 2026

Other Major Highlights

• Taj Hotels retained its position as India’s strongest brand for the fifth consecutive year, recording a Brand Strength Index (BSI) score of 93.5 out of 100.
• Zomato recorded a 37% increase in brand value to USD 1.4 billion.
• Amul recorded a 22% increase in brand value to USD 5 billion.
• Tata Consultancy Services (TCS) remained India’s most valuable Information Technology (IT) services brand, with a brand value of USD 21.2 billion.
• TCS also retained its position as the world’s second most valuable IT services brand for the fifth consecutive year.
• Suzlon Energy was identified as India’s fastest-growing brand in 2026.
• Adani Power recorded a 152% increase in brand value to USD 1.8 billion.
• Yes Bank recorded a 79% increase in brand value to USD 458 million.
• JSW Group recorded a 55% increase in brand value to USD 2.3 billion.
• MRF recorded a 24% increase in brand value to USD 863 million.
• Zetwerk recorded a 19% increase in brand value to USD 513 million.

Economist Intelligence Unit Releases Global Liveability Index 2026

• The Economist Intelligence Unit (EIU) released the Global Liveability Index 2026, evaluating living conditions across 173 cities worldwide.
• The index assesses cities across 30 indicators, grouped into 5 major categories:
• Stability – 25%
• Culture and Environment – 25%
• Healthcare – 20%
• Infrastructure – 20%
• Education – 10%
• Copenhagen, Denmark ranked 1st and emerged as the world’s most liveable city in 2026.
• Vienna, Austria ranked 2nd, followed by Melbourne, Australia at 3rd.
• Top 10 Most Liveable Cities – 2026:

1. Copenhagen – Denmark
2. Vienna – Austria
3. Melbourne – Australia
4. Sydney – Australia
5. Zurich – Switzerland
6. Geneva – Switzerland
7. Osaka – Japan
8. Adelaide – Australia
9. Vancouver – Canada
10. Tokyo – Japan

• Indian Cities in the Global Liveability Index 2026:
• New Delhi – 120th globally and 1st among Indian cities
• Mumbai – 121st globally and 2nd among Indian cities
• Chennai – 123rd globally and 3rd among Indian cities
• Bengaluru – 127th globally and 4th among Indian cities
• Damascus, Syria, ranked 173rd, making it the least liveable city in the index.
• The relatively low rankings of Indian cities were attributed to challenges such as:
• Environmental pollution: Air pollution, rising temperatures, inadequate waste management and environmental degradation.
• Healthcare pressure: Limited public healthcare capacity and high out-of-pocket expenditure.
• Unplanned urbanisation: Traffic congestion, inadequate public transport, housing shortages, slum expansion, water stress and urban flooding.
• The index aims to identify the most and least liveable cities by assessing the quality, accessibility and reliability of essential urban services and overall living conditions.

CURRENT AFFAIRS: SPORTS NEWS

Gitika Talukdar Becomes Only Indian Female Photojournalist Accredited for FIFA World Cup 2026

• Gitika Talukdar, a sports photojournalist from Northeast India, became the only Indian female photojournalist accredited to cover the FIFA World Cup 2026.
• The FIFA World Cup 2026 is her third consecutive Men's FIFA World Cup assignment, following:
• FIFA World Cup 2018 – Russia
• FIFA World Cup 2022 – Qatar
• FIFA World Cup 2026 – United States, Canada and Mexico
• Her accreditation for three consecutive Men's FIFA World Cups is a significant achievement given the highly competitive international media selection process.
• She has also covered major international sporting events, including:
• FIFA Women's World Cups – France 2019 and Australia–New Zealand 2023
• Tokyo Olympics 2020
• Paris Olympics 2024
• Commonwealth Games
• Indian Premier League (IPL)
• International Cricket Council (ICC) tournaments
• International football championships
• Educational Background: She studied Global Sports Management at Seoul National University, South Korea, with a scholarship from the Ministry of Sports and Culture of South Korea.
• During her studies, she researched gender inequality in sports media, focusing on challenges faced by women in sports journalism and photography.
• She began her professional career with a photo news agency and later shifted her focus towards sports journalism and sports photography.
• International Olympic Committee (IOC) Recognition: In 2024, she became the first and only Indian female photographer selected through the IOC's special recognition initiative to cover the Paris Olympics.
• Her journey from Northeast India to the international sporting stage highlights the growing representation of Indian women in global sports media.

Charles Leclerc Wins British Grand Prix 2026

• Charles Leclerc of Ferrari won the British Grand Prix 2026 at the Silverstone Circuit, securing his first Formula One victory since 2024.
• The victory marked Ferrari’s 250th Formula One Grand Prix win, making it a significant milestone for the team.
• George Russell of Mercedes finished 2nd, while Lewis Hamilton of Ferrari secured 3rd position.
• Kimi Antonelli of Mercedes, who started from pole position, finished 16th after facing a problem with his car.
• Antonelli’s result reduced his once-commanding lead in the Formula One Drivers’ Championship to 25 points.
• Max Verstappen of Red Bull Racing crashed out four laps before the finish, triggering the Safety Car.
• The race ended under Safety Car conditions, preventing a final racing lap.
• Lewis Hamilton received a 5-second penalty for a jump start but still finished on the podium.
• Hamilton was also placed under investigation for a possible yellow-flag violation.
• The British Grand Prix was held at Silverstone, the venue of the first Formula One World Championship race in 1950.
• The race attracted a capacity crowd of 175,000 spectators.
• The victory was an important comeback for Charles Leclerc, who said he had regained confidence and feeling in his Ferrari after recent struggles.

England Fast Bowler John Turner Retires from Professional Cricket at 25

• John Turner, England’s fast bowler, announced his retirement from professional cricket at the age of 25, citing persistent injury problems.
• Turner represented England in 4 international matches in 2024, comprising 2 One Day Internationals (ODIs) and 2 Twenty20 Internationals (T20Is).
• He made his international debut during England’s 2024 tour of the West Indies and took 3 wickets across the four matches.
• Born in Johannesburg, South Africa, Turner represented Hampshire County Cricket Club in domestic cricket.
• He joined Hampshire in 2021 after a successful trial and earned his first England call-up in 2023 after impressive performances in The Hundred.
• Turner had two years remaining on his Hampshire contract at the time of his retirement.
• He had been sidelined since June 2025 after suffering a back stress fracture.
• His prolonged injury and previous injury history played a major role in his decision to retire from professional cricket.
• Turner also held an England and Wales Cricket Board (ECB) development contract until late 2025.
• He is an Economics and Finance graduate from the University of Exeter and plans to pursue the next stage of his career outside professional cricket.
• Turner described playing for Hampshire and England as fulfilling his childhood dream of becoming a professional and international cricketer.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of the World’s Indigenous Peoples 2026 – August 9

• International Day of the World’s Indigenous Peoples is observed annually on August 9 to raise awareness about the rights, culture, traditions and well-being of Indigenous Peoples and to highlight the challenges they face in areas such as education, healthcare, environment, culture and economic development.
• Theme 2026: “Honouring Indigenous Midwives: Safeguarding Life and Well-being.” The theme highlights the important role of Indigenous midwives in protecting maternal and newborn health, preserving traditional knowledge and ensuring the well-being of Indigenous communities.
• The day commemorates the first meeting of the United Nations Working Group on Indigenous Populations, held in Geneva in 1982.
• The United Nations General Assembly (UNGA) proclaimed August 9 as the International Day of the World’s Indigenous Peoples on December 23, 1994, with the first observance held in 1995.
• In April 2000, the United Nations Human Rights Commission established the United Nations Permanent Forum on Indigenous Issues (UNPFII) under the United Nations Economic and Social Council (ECOSOC) to address issues concerning Indigenous Peoples.

Daily CA One- Liner: August 11

• Ladakh is set to introduce India’s first-ever “High-Altitude Wildlife Safari” on popular snow-leopard and bird-watching trails in its high-altitude regions
• The Tenth BRICS Industry Ministers’ Meeting concluded in Jaipur, Rajasthan, under India’s BRICS Chairship 2026, bringing together Industry Ministers and senior representatives from BRICS member countries for discussions under the BRICS Partnership on New Industrial Revolution
• The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the first-ever commercial sea shipment of 18 Metric Tonnes of Geographical Indication (GI)-tagged Mithila Makhana from the BIADA Industrial Area, Bihta, Bihar, to Australia
• The National e-Governance Division (NeGD) under the Ministry of Electronics and Information Technology (MeitY) has partnered with the Association of Australian Education Representatives in India (AAERI) to launch ‘AAERI Verify’, a digital platform aimed at simplifying and securing the verification of documents for Indian students seeking admission to Australian universities
• Under India’s BRICS Chairship 2026, the Meeting of Heads of BRICS Competition Authorities was organised by the Competition Commission of India (CCI) in Udaipur, Rajasthan.
• Kroll, an American global financial advisory firm, released the 11th edition of the ‘Kroll Celebrity Brand Valuation 2025’ report
• Lohia Aerospace Systems Private Limited has signed a Memorandum of Understanding (MoU) with Massivit, an Israel-based large-format additive manufacturing company, to introduce advanced large-format 3D printing technology for composite tooling and critical aerospace components in India
• Times Higher Education (THE) released the 8th edition of the Sustainability Impact Ratings 2026, which measures the contribution of universities towards the United Nations Sustainable Development Goals
• Brand Finance released the Brand Finance India 100 2026 report, ranking India’s most valuable and strongest brands
• The Economist Intelligence Unit (EIU) released the Global Liveability Index 2026, evaluating living conditions across 173 cities worldwide
• Gitika Talukdar, a sports photojournalist from Northeast India, became the only Indian female photojournalist accredited to cover the FIFA World Cup 2026
• Charles Leclerc of Ferrari won the British Grand Prix 2026 at the Silverstone Circuit, securing his first Formula One victory since 2024
• John Turner, England’s fast bowler, announced his retirement from professional cricket at the age of 25, citing persistent injury problems
• International Day of the World’s Indigenous Peoples is observed annually on August 9 to raise awareness about the rights, culture, traditions and well-being of Indigenous Peoples and to highlight the challenges they face in areas such as education, healthcare, environment, culture and economic development.
• The Reserve Bank of India (RBI) has issued revised directions governing loan recovery practices and the engagement of recovery agents to strengthen borrower protection, transparency, and responsible recovery practices.
• Indian Bank (IB) approved nearly ₹500 crore in Micro Small Medium Enterprise (MSME) loans for 128 beneficiaries during a Credit Outreach Programme held in New Delhi, Delhi, as part of its 120th Foundation Day Fortnight Celebrations.
• Standard Chartered Bank received approval from the International Financial Services Centres Authority (IFSCA) to offer wealth management products and services through its branch at Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat.
• SBI Life Insurance Company Limited entered into a Corporate Agency Partnership with Jammu & Kashmir Bank Limited (J&K Bank) to distribute and service SBI Life insurance products through J&K Bank’s branch network across India.
• The Reserve Bank of India (RBI) has proposed a revised Credit Valuation Adjustment (CVA) framework for commercial banks to make capital requirements more risk-sensitive and improve the measurement of risks from derivative transactions.
• Muthoot FinCorp received a perpetual Authorised Dealer Category-II (AD-II) foreign exchange licence from the Reserve Bank of India (RBI), allowing it to offer a wider range of regulated foreign exchange (forex) services.
• The Supreme Court Collegium, headed by Chief Justice of India (CJI) Surya Kant, recommended the elevation of four judges as Chief Justices of different High Courts at its meeting held on 6 August 2026.
• The Appointments Committee of the Cabinet (ACC) approved a one-year extension for Enforcement Directorate (ED) Director Rahul Navin beyond 13 August 2026.
• For the first time, the Government informed Parliament that India’s NavIC (Navigation with Indian Constellation) currently cannot provide standalone positioning services because only three navigation satellites are operational, whereas at least four satellites are required for independent navigation.
• CSIR-Central Road Research Institute (CSIR-CRRI), New Delhi presented its indigenously developed Modified Mix Seal Surfacing Plus (MSS+) Technology to Srinivas, IAS, Chief Secretary, Government of Rajasthan, at the Rajasthan Secretariat.
• Union Minister Dr. Jitendra Singh, Minister of State (Independent Charge) for Science & Technology and Earth Sciences and Vice-President, CSIR, dedicated the first-of-its-kind CSIR-NBRI Eco-Educational Hub ‘Prakriti Gyan Dham’ to the nation at the Maharishi Parashar Bioresource Centre (MPBC), Banthra, Lucknow.
• University of Hyderabad (UoH) secured Indian Patent No. 596319 for HYDERACENE, a novel polymer-based material developed for solid rocket propellants used in defence and space applications.
• The Indian Pharmacopoeia Commission (IPC), under the Ministry of Health and Family Welfare, Government of India, participated in the 10th Anniversary Meeting of the South-East Asia Regulatory Network (SEARN) held in Kathmandu, Nepal, on 4–5 August 2026.
• ICAR–National Institute of High Security Animal Diseases (ICAR-NIHSAD), Bhopal has developed India’s first indigenous MA-104 cell line-based live attenuated vaccine against African Swine Fever (ASF).