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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

State Bank of India Research Forecasts 8% Gross Domestic Product Growth for India in Q1 FY27

• The Economic Research Department (ERD) of State Bank of India (SBI Research) released its latest Ecowrap report, projecting that India’s Gross Domestic Product (GDP)growth could rebound to around 8% in Q1 FY2026-27 (April–June 2026).
• SBI Research’s 8% GDP growth projection is 1 percentage point higher than the RBI’s 7% projection for Q1 FY27.
• The projection is based on SBI Research’s nowcasting model, which uses 54 high-frequency indicators covering agriculture, industry and services, along with a Dynamic Factor Model with time-varying parameters.
• 86% of the indicators/parameters used in the models showed acceleration in Q1 FY27, compared with 69% in Q1 FY26, indicating that the underlying economic momentum is broad-based.
• Strong consumer demand was identified as a major driver of the higher GDP growth estimate, with domestic passenger vehicle sales rising 24.1% YoY, consumer credit increasing 15.8%, and electricity demand growing 11.5% in June 2026.
• India’s Index of Industrial Production (IIP) grew by 7.3% in June 2026, compared with 5% in May 2026 and 4.9% in April 2026, indicating stronger industrial activity.
• The services sector also supported the stronger Q1 GDP outlook, with the Services PMI at 57.3 in June 2026.
• Services exports increased by 13.3%, while airport cargo traffic rose 22.3% and port cargo traffic increased 9.3% during the same period.
• Capital expenditure (capex) by 20 states increased by 5.5% YoY in Q1 FY27, providing additional support to economic growth.
• Central government capex increased by 23.7% YoY and accounted for 27.8% of the Budget Estimates (BE) during Q1 FY27.

About SBI Research :

• SBI Research is the research and economic analysis wing of State Bank of India and publishes Ecowrap reports and policy research covering GDP, inflation, banking, fiscal policy, macroeconomic trends and financial markets.

International Monetary Fund Projects India’s Economy to Reach $5 Trillion by FY 2028–29: Finance Minister Nirmala Sitharaman

• Finance Minister Nirmala Sitharaman informed the Rajya Sabha that, according to the International Monetary Fund (IMF), India’s nominal GDP is projected to cross the $5 trillion mark in FY 2028–29 (FY29), reaching around $5.1 trillion.
• According to the IMF World Economic Outlook Database (April 2026), India’s GDP at current prices is projected to reach approximately $5.1 trillion by FY 2028–29.
• India’s nominal GDP was estimated at around $3.92 trillion in FY 2025–26, meaning that the economy would need to add more than $1 trillion to reach the projected $5.1 trillion
• Nominal GDP is the total value of all final goods and services produced in a country, measured at current market prices without adjusting for inflation.
• India is expected to achieve the $5 trillion economy milestone through continued growth in manufacturing, infrastructure, agriculture, MSMEs, trade and services, supported by ongoing structural reforms.
• The government has adopted a broad-based growth strategy with emphasis on public capital expenditure, liberalising the Foreign Direct Investment (FDI) regime, boosting exports, and strengthening macroeconomic fundamentals through prudent fiscal management and price stability.
• To strengthen the manufacturing sector, the government is implementing initiatives such as the Production Linked Incentive (PLI) Scheme, Make in India, National Logistics Policy, National Single Window System, and PM GatiShakti.
• These manufacturing initiatives aim to enhance domestic production, attract investment, generate employment, and improve India’s competitiveness.
• The government is strengthening the MSME sector through enhanced credit guarantees, the Emergency Credit Guarantee Scheme, revised MSME classification norms, and strengthening of the Trade Receivables Discounting System (TReDS)
• Other measures for MSMEs include simplified Udyam Registration, wider access to the Government e-Marketplace (GeM), and support under the PM Vishwakarma Scheme.
• The services sector is being strengthened through the development and deployment of Digital Public Infrastructure (DPI), promotion of Global Capability Centres (GCCs), Medical Value Travel, and the Orange Economy.
• The government is also focusing on strengthening the Artificial Intelligence (AI) and digital ecosystem, along with initiatives for skill development and improving workforce employability.
• The Union Budget 2026–27 announced initiatives for the services sector, including the establishment of the National Institute of Hospitality, creation of Regional Medical Hubs, expansion of Allied Health Professional institutions, development of AVGC Content Creator Labs, and support for university townships.
• AVGC stands for Animation, Visual Effects, Gaming and Comics, and the proposed AVGC Content Creator Labs aim to support the growth of this emerging sector.
• The Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) scheme aims to strengthen industry-aligned skills and create a future-ready workforce for emerging sectors.
• Collectively, these government measures are expected to strengthen India’s medium-term growth prospects and contribute to the long-term vision of Viksit Bharat by 2047.
• Finance Minister Nirmala Sitharaman also stated that banks registered 2,15,709 cases under the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) during FY 2024–25 (FY25).
• The total amount involved in these SARFAESI cases was ₹1,03,180 crore, out of which banks were able to recover ₹32,466 crore.

PMS Bazaar Partners with NDML to Simplify Securities and Exchange Board of India Accredited Investor Certification

• PMS Bazaar, a leading Indian alternative investments platform, announced a strategic partnership with NSDL Database Management Limited (NDML Accreditation Agency) to facilitate the Securities and Exchange Board of India (SEBI) Accredited Investor certification process for eligible investors and entities.
• The collaboration was announced at the PMS Bazaar Bengaluru Conclave held in Bengaluru, Karnataka.
• The main objective of the partnership is to make the Accredited Investor certification process simpler, faster and more accessible through end-to-end assistance.
• Under the SEBI Accredited Investor framework, eligible investors can benefit from lower minimum investment thresholds for Portfolio Management Services (PMS), Alternative Investment Funds (AIFs) and other alternative investment products.
• Accredited Investors may also gain access to sophisticated investment opportunities and applicable regulatory flexibilities under the SEBI framework.
• After receiving the required documents, PMS Bazaar initiates and processes the certification application, while NDML Accreditation Agency typically issues the certificate on a T+1 basis, subject to completion of documentation and payment.
• T+1 means the certificate is typically issued on the next working day after the application process, subject to the required conditions being fulfilled.
• During the Bengaluru Conclave, several participants successfully applied for and received their Accredited Investor Certificates within a few hours on the same day, demonstrating the efficiency of the certification process.
• PMS Bazaar also assists Asset Managers, Wealth Managers, Family Offices and Distributors in facilitating Accredited Investor certification for their eligible clients.
• Investors receive complete handholding throughout the certification process and do not have to pay any additional platform, service or processing fee to PMS Bazaar; only the applicable certification fees are payable.

About NSDL Database Management Limited :

• NSDL Database Management Limited (NDML Accreditation Agency) was established in June 2004 and is a wholly-owned subsidiary of National Securities Depository Limited (NSDL).
• NDML is a technology-driven services company recognised by SEBI for issuing Accredited Investor Certificates in accordance with the applicable regulatory framework.
• Headquarters of NDML: Mumbai, Maharashtra.

US Overtakes Singapore to Lead Foreign Portfolio Investors Equity Holdings in India with 31.04% Share

• US-based Foreign Portfolio Investors (FPIs) regained the top position in Indian equity ownership in the June 2025 quarter, despite continuing India-US trade tensions.
• US FPIs accounted for 04% of the total FPI holdings in India, overtaking Singapore, which held a 28.11% share.
• In the March 2025 quarter, Singapore had a slightly higher share than the US, making the June quarter a reversal in the rankings.
• Norway ranked third with a 40% share of Indian FPI holdings.
• Mauritius ranked fourth with an 25% share of Indian FPI holdings.
• US, Singapore, Norway and Mauritius were the only four countries with double-digit shares of FPI holdings in India.
• Foreign Portfolio Investors (FPIs) are foreign individuals or institutional entities that invest in financial assets of another country without taking active management control of the companies.
• Examples of FPIs include mutual funds, pension funds and sovereign wealth funds.
• FPIs can invest in financial instruments such as equities, bonds and Exchange-Traded Funds (ETFs).
• FPI investment differs from Foreign Direct Investment (FDI) because FPIs generally involve portfolio investment without significant managerial control over the companies.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Gujarat Government Approves Four Centres of Excellence for Natural Farming

• The Gujarat Government has approved the establishment of four Centres of Excellence (CoEs) to promote and expand natural farming across the state.
• The initiative is being undertaken under the guidance of Gujarat Governor Acharya Devvrat, who has been actively associated with the promotion of natural farming.

Key Highlights

• The state government has allocated ₹20 crore for 2026–27 for establishing the four Centres of Excellence.
• The Centres of Excellence will be established in Navsari, Morbi, Bhavnagar and Chhota Udepur districts.
• In the first phase, the centres will be established at:
• Nani Bhamti village, Vansda taluka – Navsari
• Halvad – Morbi
• Valavad village, Sihor taluka – Bhavnagar
• Chudel village, Jetpur Pavi taluka – Chhota Udepur
• Each centre will have modern facilities to provide training to 100 farmers at a time, including farmers already practising natural farming and those planning to adopt it.
• The Gujarat Prakrutik Krishi Vikas Board has been entrusted with the implementation of the scheme.
• The centres will function as model campuses for natural farming, providing farmers with training, technology, agricultural inputs and solutions to farming-related problems at a single location.
• Farmers will receive practical training in preparing bio-inputs such as Jeevamrut, Ghan Jeevamrut, Beejamrut and Neemastra.
• The centres will also produce and supply bio-inputs at nominal prices, along with mulching materials, crop seeds, horticultural saplings, cuttings, grafts and other planting materials.
• Farmers will receive guidance on soil testing, quality testing of agricultural products, new technologies, primary agricultural inputs, value addition and post-harvest processing.
• Demonstrations will be conducted on the five-layer natural farming model, mixed cropping and intercropping techniques.
• The centres will also provide practical demonstrations and field-level guidance by visiting farmers’ fields.
• Training will cover the preparation and proper application of Beejamrut, Jeevamrut and natural pesticides, along with standard natural farming practices for different crops.
• The initiative is expected to help farmers reduce cultivation costs, improve the use of bio-inputs and increase the adoption of natural farming practices.
• Training in value addition, processing, storage and packaging is expected to help farmers obtain better returns from agricultural produce.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Dev Vrat
• Capital: Gandhinagar
• National Parks: Gir, Blackbuck, Gulf of Kutch (Marine), Vansda National Parks
• Wildlife Sanctuaries: Nal Sarovar Bird, Wild Ass, Kutch Desert, Barda, Purna Wildlife Sanctuaries

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

Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana: Rajasthan and Telangana Receive ₹605.71 Crore

• Union Minister for Agriculture and Farmers’ Welfare and Rural Development Shivraj Singh Chouhan approved major financial allocations for Rajasthan and Telangana under Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana (KY) for 2026–27.

Key Highlights

• Rajasthan received a total allocation of ₹340.59 crore, comprising:
• ₹216.12 crore under Pradhan Mantri Rashtriya Krishi Vikas Yojana
• ₹124.47 crore under Krishonnati Yojana
• Telangana received a total allocation of ₹265.12 crore, comprising:
• ₹157.66 crore under Pradhan Mantri Rashtriya Krishi Vikas Yojana
• ₹107.46 crore under Krishonnati Yojana
• The combined allocation to both states stands at ₹605.71 crore.
• For Rajasthan, the Project Approval Committee (PAC) meeting held on 20 April 2026 approved an annual action plan of ₹849.37 crore, including a Central share of ₹509.62 crore.
• Rajasthan received its first Mother Sanction of ₹216.13 crore on 4 May 2026 and had utilised ₹164.39 crore, representing 76.06% of the sanctioned amount.
• For Telangana, the PAC meeting held on 27 April 2026 approved an annual action plan of ₹651.06 crore, including a Central share of ₹390.63 crore.
• Telangana received its first Mother Sanction of ₹157.65 crore on 12 May 2026 and had utilised ₹96.05 crore, representing 60.93% of the sanctioned amount.
• Shivraj Singh Chouhan appreciated Telangana’s new model for Farmer Identification (ID) and fertiliser distribution, stating that it would improve transparency and effective delivery of services to farmers.
• Telangana was advised to improve monitoring and implementation under the Oilseeds and Pulses Missions, as expenditure under these missions was relatively behind schedule.
• Rajasthan was advised to give special attention to Kisan Credit Card (KCC) coverage so that farmers can receive timely and hassle-free credit support.
• The financial allocations are expected to support agricultural infrastructure, productivity enhancement, agricultural inputs and farmer welfare in both states.

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 Telangana:

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

RECENT NEWS

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

Prevention of Insults to National Honour (Amendment) Bill, 2026 Receives Presidential Assent

• President Droupadi Murmu gave her assent to the Prevention of Insults to National Honour (Amendment) Bill, 2026, converting it into law.
• The amended law provides legal protection to the national song “Vande Mataram” against intentional disruption or prevention of its singing, similar to the protection already provided to the national anthem “Jana Gana Mana.”

Key Highlights

• The Lok Sabha passed the Bill on 30 July 2026, while the Rajya Sabha passed it on 29 July 2026.
• The amendment makes it an offence to intentionally prevent the singing of “Vande Mataram” or cause disturbance to an assembly engaged in singing it.
• Under the earlier Prevention of Insults to National Honour Act, 1971, similar legal protection was specifically available for the national anthem, but not for the national song.
• The amendment proposes to include the national song within Section 3 of the Act, making intentional disruption of its singing punishable by law.
• The National Song “Vande Mataram” was composed by Bankim Chandra Chattopadhyay and played an important role during India's freedom struggle.
• Dr Rajendra Prasad, President of the Constituent Assembly, stated on 24 January 1950 that “Vande Mataram” would be honoured equally with “Jana Gana Mana” and would have equal status as the national song.
• For the first time, “Vande Mataram” is scheduled to be sung from the ramparts of the Red Fort during the Independence Day function.
• The Ministry of Home Affairs (MHA) issued protocols in January 2026 for singing the national song at official functions.
• As per the protocol, when “Vande Mataram” and “Jana Gana Mana” are sung or played together, “Vande Mataram” will be performed first.
• The protocol specifies that all six stanzas of “Vande Mataram”, with a duration of approximately 3 minutes and 10 seconds, are to be used at specified official functions.
• The protocol also directs that schools should begin the day's work with community singing of “Vande Mataram.”

About Ministry of Home Affairs:

• Cabinet Minister: Amit Shah
• Constituency: Gandhinagar, Gujarat
• Ministers of State (MoS): Nityanand Rai, Bandi Sanjay Kumar

RECENT NEWS

• To strengthen the internal security of the India the induction of the advanced satellite imaging system called Prajna’ was developed. It is developed by the Defence Research and Development Organization and this system has been handed over to the Ministry of Home Affairs.

Foreign Contribution (Regulation) Amendment Bill, 2026 Referred to Joint Parliamentary Committee

• The Lok Sabha approved a motion to refer the Foreign Contribution (Regulation) Amendment Bill, 2026 to a 31-member Joint Parliamentary Committee (JPC) for detailed examination.
• The Joint Parliamentary Committee will comprise 21 members from the Lok Sabha and 10 members from the Rajya Sabha.

Key Highlights

• Lok Sabha Speaker Om Birla will nominate the 21 Lok Sabha members, while Rajya Sabha Chairman C. P. Radhakrishnan will nominate the 10 Rajya Sabha members.
• The JPC has been directed to submit its report to the Lok Sabha by the last day of the first week of the Winter Session of Parliament, 2026.
• Minister of State for Home Nityanand Rai moved the motion to refer the Bill to the JPC amid Opposition protests and demands for the presence of Home Minister Amit Shah in the House.
• The Foreign Contribution (Regulation) Amendment Bill, 2026 seeks to amend the Foreign Contribution (Regulation) Act, 2010 (FCRA), which regulates the acceptance and utilisation of foreign contributions by individuals, associations and companies in India.
• The Bill was introduced in the Lok Sabha on 25 March 2026.
• A key provision of the Bill is the proposed creation of a Designated Authority to oversee the foreign contributions and assets of organisations whose FCRA registration is cancelled, surrendered or ceases to be valid.
• The Lok Sabha also passed the National Co-operative Development Corporation (Amendment) Bill, 2026, which seeks to amend the National Co-operative Development Corporation Act, 1962.
• The Lok Sabha further passed the Kerala (Alteration of Name) Bill, 2026, proposing to change the name of the state from Kerala to Keralam.

CURRENT AFFAIRS: RANKING AND INDEX

Hurun India Most Valuable Family Businesses 2026: Ambani Family Tops the Ranking

• Barclays Private Clients Hurun India Most Valuable Family Businesses 2026 report ranked India’s 300 most valuable family businesses based on their business value.
• India’s top 300 family businesses are collectively valued at ₹138 lakh crore (US$1.46 trillion), equivalent to the 18th-largest economy in the world.

Key Highlights

• Their combined value increased by 27.5% since 2024, adding nearly ₹30 lakh crore over two years.
• These businesses generated approximately ₹4,076 crore in value per day over the past two years.
• Their combined value outperformed major Indian stock market indices, with the Nifty 50 declining 1.1% and the Sensex declining 3.7% during the same period.

Top 10 Family Businesses – 2026

• Ambani Family secured the 1st position with Reliance Industries valued at ₹25.83 lakh crore.
• Birla Family ranked 2nd, while Jindal Family secured the 3rd position.
• Anil Agarwal Family (Vedanta) recorded the strongest growth among the top 10, with a 75% year-on-year increase and 212% growth over three years.
• Nadar Family (HCL Technologies) recorded a 38% year-on-year decline and a 32% decline over three years.

About Reliance Industries Limited:

• Chairman & Managing Director: Mukesh Ambani
• Headquarters: Mumbai, Maharashtra

• Established: 1966

About Aditya Birla Group:

• Chairman: Kumar Mangalam Birla
• Headquarters: Mumbai, Maharashtra

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Archana Varma Assumes Charge as Secretary, Department of Water Resources under Ministry of Jal Shakti

• Archana Varma assumed charge as Secretary, Department of Water Resources, River Development and Ganga Rejuvenation (DoWR, RD & GR) under the Ministry of Jal Shakti on 12 August 2026.
• Archana Varma is a 1995-batch IAS officer of the Assam cadre/Assam-Meghalaya cadre.
• She succeeded V. L. Kantha Rao as Secretary of the Department of Water Resources, River Development and Ganga Rejuvenation.
• Upon assuming charge, Archana Varma was welcomed by Joint Secretary (Administration) Karan Singh and other officials of the Department.
• Before becoming Secretary, Archana Varma was serving as Mission Director, National Water Mission (NWM).
• She joined the Ministry of Jal Shakti in September 2022 as Mission Director of the National Water Mission.
• As Mission Director, she worked towards taking the National Water Mission beyond the Jal Shakti Abhiyan–Catch the Rain (JSA-CTR)
• Prior to this, she served in the Ministry of Health and Family Welfare and the Department of Personnel and Training (DoPT) and held several senior positions in the Government of India.
• She also served as Additional Secretary, Central Vigilance Commission (CVC), where she dealt with CVC policies and vigilance matters concerning the Government of the National Capital Territory of Delhi (GNCTD), among other responsibilities.
• Archana Varma began her administrative career as Sub-Divisional Magistrate (SDM), Hamren, in Assam's Karbi Anglong district, a Sixth Schedule tribal area, now part of West Karbi Anglong district.
• She subsequently held several important positions in the Assam State Government.
• Archana Varma completed her graduation in History from Lady Shri Ram College and pursued her postgraduate studies at Jawaharlal Nehru University (JNU).
• The Personnel Ministry announced her appointment through a partial modification of its July 23, 2026
• V. L. Kantha Rao, the outgoing Secretary of the Department of Water Resources, has been appointed Officer on Special Duty (OSD), Department of Official Language, under the Ministry of Home Affairs (MHA).
• V. L. Kantha Rao will take over as Secretary, Department of Official Language after the superannuation of incumbent Ansuli Arya at the end of September 2026.

About Ministry of Jal Shakti :

• Cabinet Minister : C. R. Patil
• Minister of State : V. Somanna, Raj Bhushan Choudhary

Former Supreme Court Chief András Baka Elected Hungary’s New President

• The Hungarian Parliament elected Andras Baka, former head of the Supreme Court of Hungary, as the country’s new President.
• Andras Baka was elected with 140 votes in favour and 6 votes against, with support from members of the governing Tisza Party.
• The presidential election was followed by the removal of former President Tamás Sulyok, whose tenure was ended through a constitutional amendment.
• The constitutional amendment was passed by the government led by Prime Minister (PM) Péter Magyar.
• Andras Baka is scheduled to take office on 19 August 2026 as the new President of Hungary.
• His presidential term will last for up to five years or until a new constitution is adopted, whichever occurs earlier.
• The Hungarian presidency is described as a largely ceremonial role, making Baka’s election a significant political development under the Tisza Party government.
• Members of the opposition Fidesz Party did not participate in the presidential election.

About Hungary :

• Prime Minister : Péter Magyar
• Capital : Budapest
• Currency : Forint

CURRENT AFFAIRS : DEFENCE NEWS

India Optel Launches Indigenous GARUD High-Resolution Binoculars for Civilian Use

• India Optel Limited (IOL), a Mini Ratna Category-I Defence Public Sector Undertaking (DPSU) under the Department of Defence Production, launched the indigenous ‘GARUD’ High Resolution Binoculars for the civil market.
• GARUD was developed and manufactured by Ordnance Factory, Dehradun, a unit of India Optel Limited (IOL).
• The launch of GARUD reflects the spirit of ‘Aatmanirbhar Bharat’ through indigenous design and manufacturing.
• India Optel Limited has a rich legacy of precision optical manufacturing dating back to 1943, and GARUD combines its defence-grade optical expertise with modern technology.
• GARUD binoculars provide 8x magnification and a wide 7.6-degree field of view, enabling clear observation of distant objects while maintaining a broad viewing perspective.
• The binoculars feature ±5 diopter adjustment, allowing users to accommodate differences in individual eyesight.
• GARUD is equipped with soft-touch eyecups for comfortable extended viewing and an ergonomic grip for secure handling.
• The binoculars have a weather-resistant construction, enabling reliable use in different outdoor conditions.
• GARUD weighs approximately 610 grams, combining portability with dependable optical performance in a compact design.
• The binoculars are suitable for applications including birdwatching, wildlife observation, nature exploration, travel, sports, forestry, marine activities and security-related applications.
• The launch marks India Optel Limited’s entry into the civilian optics market, making India’s trusted defence optical capabilities available to the wider public.
• GARUD is based on a binocular platform that has served as a trusted optical device for the Defence Forces and Central Armed Police Forces (CAPFs) in demanding operational conditions.
• The indigenous GARUD optical product was launched on 13 August 2026 at DPSU Bhawan, New Delhi.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Skyroot Aerospace and HEX20 Ink Deal for Three Dedicated Vikram-Series Missions

• Skyroot Aerospace Private Limited, a Hyderabad-based Indian private space startup, signed a Multi-Launch Agreement (MLA) with HEX20, a Thiruvananthapuram-based spacetech startup, for three dedicated Vikram-series missions.
• The agreement was finalised on 6 August 2026 and was signed by Naga Bharath Daka, Co-founder & COO of Skyroot Aerospace, and B. Aravind, Co-founder & COO of HEX20.
• The three launches will support HEX20’s Earth Observation constellation, in-orbit payload demonstration missions, and rideshare capacity for third-party spacecraft.
• Under the agreement, the launches are scheduled to begin in Q4 (fourth quarter) of 2027, making it Skyroot Aerospace’s first launch contract after the successful Vikram-1 orbital mission.
• A Multi-Launch Agreement (MLA) is a commercial contract covering multiple satellite launches over a defined period.
• The missions will provide rideshare opportunities, allowing third-party spacecraft operators and commercial customers to share launch capacity and costs while accessing orbit.
• Vikram-1 successfully completed its maiden orbital flight on 18 July 2026 from the Satish Dhawan Space Centre, Sriharikota.
• Vikram-1 is described as India’s first privately developed orbital-class launch vehicle to successfully reach orbit on its maiden mission.
• During its maiden mission, Vikram-1 deployed multiple customer payloads into Low Earth Orbit (LEO), including the SCOPE and Grahaa satellites.
• The successful maiden launch demonstrated the orbital-launch capability of Skyroot Aerospace and strengthened confidence in India’s emerging private space-launch industry.
• SCOPE, Skyroot Aerospace’s in-house CubeSat technology demonstrator, was successfully deployed into orbit and established parts of its communications chain.
• However, SCOPE failed to provide usable housekeeping telemetry, preventing engineers from verifying some important spacecraft systems, including its imaging payload.
• A space-debris-related technology payload also fell short of complete mission success, highlighting that while the Vikram-1 launch vehicle performed successfully, not all payload objectives were achieved.
• Skyroot Aerospace is reportedly planning at least one additional Vikram-1 test mission in late 2026.
• Skyroot Aerospace has set a long-term production target of 12 launches per year, indicating its ambition to scale up India’s commercial orbital launch capacity.

International Business Machines Partners with Manipal Institute of Technology-Bengaluru and Christ University to Set Up Artificial Intelligence Centres in India

• International Business Machines (IBM Corporation) has partnered with Manipal Institute of Technology (MIT) Bengaluru and CHRIST (Deemed to be University) to establish Artificial Intelligence (AI)-focused centres in India.
• The strategic collaboration aims to expand access to advanced computing, enterprise AI technologies, research and digital skilling.
• IBM–MIT AI Lab – MAHE Intelligence GPU (MIG) was inaugurated at the MIT Bengaluru campus in collaboration with IBM.
• The IBM–MIT AI Lab – MAHE is equipped with High-Performance Computing (HPC) infrastructure and advanced GPU-based computing resources to support AI research, innovation and digital skilling.
• The AI Lab can simultaneously support 30 high-performance computing workloads, providing advanced computing resources to students, researchers and institutions.
• The centre will support research in Machine Learning (ML), Deep Learning, Generative AI, Computer Vision, Natural Language Processing (NLP), Cybersecurity, Healthcare, Intelligent Systems and Data Analytics.
• The IBM–MIT initiative aims to democratise access to AI computing and research infrastructure and extend opportunities to students and institutions across India.
• Through IBM SkillsBuild, IBM’s free technology education programme, MIT Bengaluru will establish an AI Learning Initiative.
• The AI Learning Initiative will include AI awareness workshops, immersive bootcamps, hands-on AI/ML training, IBM SkillsBuild digital credentials and mentorship from MIT Bengaluru faculty and student volunteers.
• The initiative will particularly reach students from Tier 2 and Tier 3 institutions, helping to bridge the digital divide and develop industry-relevant AI skills.
• CHRIST (Deemed to be University) and IBM announced the establishment of the IBM Innovation Center for Artificial Intelligence to promote AI education, research and innovation.
• The IBM Innovation Center for AI will provide students, faculty members, researchers and PhD scholars access to enterprise AI technologies and real-world use cases.
• The CHRIST–IBM centre will focus on Generative AI, Agentic AI, Large Language Models (LLMs), Retrieval-Augmented Generation (RAG), Intelligent Automation and Responsible AI.
• Eligible participants will receive access to IBM technologies such as ai, an AI development studio designed for developing, managing and governing AI applications and agents.
• Participants will also gain access to watsonx Orchestrate, an agentic control plane designed to help scale and govern AI agents.
• IBM Bob, an AI development partner, will support different stages of the software development lifecycle and enterprise AI application development.
• IBM Expert Labs will conduct hands-on training and enablement programmes for faculty members, PhD scholars and postgraduate students to strengthen expertise in enterprise AI technologies.
• The collaboration will support interdisciplinary research, industry engagement, internships, hackathons and innovation challenges.
• The centres will provide students and researchers with opportunities to experiment with emerging AI technologies and develop future-ready AI solutions.
• IBM Corporation is a leading global provider of hybrid cloud and AI solutions, with its headquarters in New York, USA.

Recent News :

• In July 2026,NVIDIA, Microsoft Corporation, IBM (International Business Machines Corporation), along with leading technology companies and research institutions, launched the Open Secure AI Alliance (OSAA) to strengthen the security, trustworthiness, and resilience of Artificial Intelligence (AI) systems through open collaboration and shared security standards.

CURRENT AFFAIRS : OBITUARIES

Legendary American Basketball Coach and Former Player Don Nelson Passed away at 86 in Texas

• Donald Arvid Nelson (Don Nelson), the legendary American basketball player and coach, passed away at the age of 86 in Frisco, Texas,United States of America(USA).

About Donald Arvid Nelson :

• He was born on 15 May 1940 in Muskegon, Michigan, USA.
• Don Nelson played 14 seasons in the National Basketball Association (NBA), including 11 seasons with the Boston Celtics.
• As a player with the Boston Celtics, he won 5 NBA Championships between 1966 and 1976.
• The Boston Celtics retired his 19 jersey in 1978, honouring his contribution to the franchise.
• Nelson later became an NBA head coach and had a coaching career spanning 31 years, from 1976 to 2010.
• He coached several NBA teams, including the Milwaukee Bucks, Golden State Warriors, New York Knicks and Dallas Mavericks.
• Nelson recorded 1,335 regular-season coaching victories and 1,063 losses during his NBA coaching career.
• His 1,335 coaching wins made him one of the winningest coaches in NBA history; the record was later surpassed by Gregg Popovich in 2022.
• Don Nelson won the NBA Coach of the Year Award three times, in 1983, 1985 and 1992.
• He was inducted into the Naismith Memorial Basketball Hall of Fame in 2012.
• Nelson was known for his fast-paced style of basketball, greater emphasis on three-point shooting, unconventional lineups and positionless offensive concepts.
• His innovative coaching approach made him one of the most influential figures in the development of modern NBA basketball.
• Although he never reached the NBA Finals as a head coach, he was widely regarded as a revolutionary and visionary coach because of his unconventional tactics and offensive strategies.
• Nelson coached the Golden State Warriors for 11 seasons and was widely recognised as one of the franchise’s most influential coaches.

CURRENT AFFAIRS: IMPORTANT DAYS

World Organ Donation Day 2026 – 13 August

• World Organ Donation Day is observed annually on 13 August to create awareness about the importance of organ donation and encourage people to donate their organs after death.
• The day aims to address the lack of awareness about organ donation and encourage greater participation in organ and tissue donation programmes.
• The first successful organ transplant involving a living donor was performed in 1954 in the United States, when Ronald Lee Herrick donated a kidney to his identical twin brother Richard J. Herrick.
• Dr. Joseph E. Murray performed the successful kidney transplantation between the twins. Ronald Lee Herrick is recognised as the world’s first successful living organ donor.
• Dr. Joseph E. Murray was awarded the Nobel Prize in Physiology or Medicine in 1990, jointly with E. Donnall Thomas, for discoveries concerning organ and cell transplantation in the treatment of human disease.
• India observes National Organ Donation Day on 27 November to promote awareness about organ donation and transplantation.
• In India, organ and tissue donation and transplantation activities are coordinated through the National Organ and Tissue Transplant Organization (NOTTO) under the Ministry of Health and Family Welfare.

International Lefthanders Day 2026 – 13 August

• International Lefthanders Day is observed annually on 13 August to celebrate the uniqueness of left-handed people and raise awareness about  the challenges they face in a predominantly right-handed world.
• International Lefthanders Day 2026 marks the 31st annual observance of the day.
• The day highlights the difficulties experienced by left-handed people while using products, tools, equipment and facilities primarily designed for right-handed users.
• The Left-hander’s Club was established in 1990 to promote research on left-handedness and encourage the development of left-handed products and equipment.
• The Left-Handers Club launched International Lefthanders Day in 1992, with 13 August chosen as the annual date of observance.
• The day provides an opportunity to recognise the strengths, uniqueness and everyday experiences of left-handed people and promote greater public awareness.
• Various awareness programmes and activities are organised worldwide to highlight the experiences of left-handed people and encourage the use of left-hand-friendly products and facilities.

World Elephant Day 2026 – 12 August

• World Elephant Day is observed annually on 12 August to raise global awareness about the protection, conservation and welfare of elephants.
• World Elephant Day 2026 was observed with the global theme “Bringing the World Together to Help Elephants.”
• The day focuses on addressing major threats to elephants, including illegal hunting, poaching, habitat loss, human-elephant conflict and illegal wildlife trade.
• World Elephant Day was conceived in 2011 by Patricia Sims and Michael Clark of Canazwest Pictures, along with Sivaporn Dardarananda, Secretary-General of the Elephant Reintroduction Foundation, Thailand.
• The first World Elephant Day was observed on 12 August 2012.
• The documentary film “Return to the Forest”, narrated by William Shatner, was released in connection with the inaugural World Elephant Day. The film focused on the reintroduction of captive Asian elephants into the wild.
• The World Elephant Society supports global efforts to promote elephant conservation and awareness.

International Youth Day 2026 – 12 August

• International Youth Day is observed annually on 12 August across the world to raise awareness about the challenges faced by young people and promote solutions for youth-related issues.
• International Youth Day 2026 was observed with the official United Nations (UN) theme “Different Contexts, Common Aspirations.”
• The theme highlights the diverse circumstances of young people across countries while recognising their shared aspirations and common goals.
• The United Nations General Assembly (UNGA) adopted a resolution to establish International Youth Day in 1999, following the recommendation of the World Conference of Ministers Responsible for Youth.
• The first International Youth Day was observed on 12 August 2000.
• The day focuses on strengthening youth participation, development and peace and recognises the important contribution of young people to global development.
• Various workshops, cultural programmes, conferences, meetings and awareness campaigns are organised worldwide by governments, youth organisations and other institutions.

Daily CA One- Liner: August 14

• The Gujarat Government has approved the establishment of four Centres of Excellence (CoEs) to promote and expand natural farming across the state
• Union Minister for Agriculture and Farmers’ Welfare and Rural Development Shivraj Singh Chouhan approved major financial allocations for Rajasthan and Telangana under Pradhan Mantri Rashtriya Krishi Vikas Yojana (PM-RKVY) and Krishonnati Yojana (KY) for 2026–27
• President Droupadi Murmu gave her assent to the Prevention of Insults to National Honour (Amendment) Bill, 2026, converting it into law
• The Lok Sabha approved a motion to refer the Foreign Contribution (Regulation) Amendment Bill, 2026 to a 31-member Joint Parliamentary Committee (JPC) for detailed examination
• Barclays Private Clients Hurun India Most Valuable Family Businesses 2026 report ranked India’s 300 most valuable family businesses based on their business value.
• The Economic Research Department (ERD) of State Bank of India (SBI Research) released its latest Ecowrap report, projecting that India’s Gross Domestic Product (GDP)growth could rebound to around 8% in Q1 FY2026-27 (April–June 2026).
• Finance Minister Nirmala Sitharaman informed the Rajya Sabha that, according to the International Monetary Fund (IMF), India’s nominal GDP is projected to cross the $5 trillion mark in FY 2028–29 (FY29), reaching around $5.1 trillion.
• PMS Bazaar, a leading Indian alternative investments platform, announced a strategic partnership with NSDL Database Management Limited (NDML Accreditation Agency) to facilitate the Securities and Exchange Board of India (SEBI) Accredited Investor certification process for eligible investors and entities.
• US-based Foreign Portfolio Investors (FPIs) regained the top position in Indian equity ownership in the June 2025 quarter, despite continuing India-US trade tensions.
• Archana Varma assumed charge as Secretary, Department of Water Resources, River Development and Ganga Rejuvenation (DoWR, RD & GR) under the Ministry of Jal Shakti on 12 August 2026.
• The Hungarian Parliament elected Andras Baka, former head of the Supreme Court of Hungary, as the country’s new President.
• India Optel Limited (IOL), a Mini Ratna Category-I Defence Public Sector Undertaking (DPSU) under the Department of Defence Production, launched the indigenous ‘GARUD’ High Resolution Binoculars for the civil market.
• Skyroot Aerospace Private Limited, a Hyderabad-based Indian private space startup, signed a Multi-Launch Agreement (MLA) with HEX20, a Thiruvananthapuram-based spacetech startup, for three dedicated Vikram-series missions.
• International Business Machines (IBM Corporation) has partnered with Manipal Institute of Technology (MIT) Bengaluru and CHRIST (Deemed to be University) to establish Artificial Intelligence (AI)-focused centres in India.
• Donald Arvid Nelson (Don Nelson), the legendary American basketball player and coach, passed away at the age of 86 in Frisco, Texas,United States of America(USA).
• World Organ Donation Day is observed annually on 13 August to create awareness about the importance of organ donation and encourage people to donate their organs after death
• International Lefthanders Day is observed annually on 13 August to celebrate the uniqueness of left-handed people and raise awareness about the challenges they face in a predominantly right-handed world
• World Elephant Day is observed annually on 12 August to raise global awareness about the protection, conservation and welfare of elephants
• International Youth Day is observed annually on 12 August across the world to raise awareness about the challenges faced by young people and promote solutions for youth-related issues