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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Rolls Out Three Major Surveys to Support Monetary Policy Decisions

• The Reserve Bank of India (RBI) launched the Inflation Expectations Survey of Households (IESH), Rural Consumer Confidence Survey (RCCS), and Urban Consumer Confidence Survey (UCCS) to collect household feedback on inflation, economic conditions, employment, income, and spending.
• The surveys provide critical inputs for monetary policy formulation ahead of the Monetary Policy Committee (MPC) meeting scheduled from 3–5 August 2026.
• The Inflation Expectations Survey of Households (IESH) is conducted across 19 cities to assess households’ inflation expectations based on their individual consumption baskets.
• IESH gathers qualitative responses on general and product-specific price movements for the next 3 months and 1 year.
• IESH also collects quantitative estimates of current inflation, 3-month-ahead inflation, and 1-year-ahead inflation.
• The Rural Consumer Confidence Survey (RCCS) covers rural and semi-urban households across 31 States and Union Territories (UTs).
• RCCS captures household perceptions and 1-year-ahead expectations regarding the general economic situation, employment scenario, overall price situation, household income, and spending.
• The Urban Consumer Confidence Survey (UCCS) is conducted across 19 cities to assess consumer confidence in urban areas.
• UCCS records qualitative responses on the general economic situation, employment, price levels, household income, and spending for the current period and one year ahead.

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
• The RBI is responsible for monetary policy, currency management, and regulation of the financial system.

AU Small Finance Bank Limited and Zaggle Launch Co-Branded Retail Credit Card with Visa, RuPay, and Unified Payments Interface Benefits

• AU Small Finance Bank Limited (AU SFB) partnered with Zaggle Prepaid Ocean Services Limited (Zaggle) to launch the AU Zaggle Co-Branded Retail Credit Card on the Visa and RuPay payment networks through the money platform.
• The AU Zaggle Co-Branded Retail Credit Card offers customizable rewards, Zagg Coins-to-cashback, Unified Payments Interface (UPI) support, and contactless payment benefits, providing customers with a personalized digital credit card experience.
• Cardholders can earn accelerated Zagg Coins on UPI and contactless transactions, along with higher cashback upon achieving specified spending milestones.
• Zagg Coins earned through card usage can be converted into cashback via the money app, with the cashback amount credited directly to the credit card account.
• The partnership combines AU SFB’s credit card infrastructure, customer-centric banking expertise, and risk management capabilities with Zaggle’s spend management, Software-as-a-Service (SaaS)-based fintech platform, and digital rewards ecosystem.
• Zaggle Prepaid Ocean Services Limited is a spend management and SaaS-led fintech platform, offering digital financial and employee expense management solutions.

About AU Small Finance Bank (AU SFB) :

• AU Small Finance Bank (AU SFB) was established in 1996 as a vehicle finance company and became a Small Finance Bank (SFB) in 2017.
• AU Small Finance Bank (AU SFB) is headquartered in Mumbai, Maharashtra, and is led by its Founder, Managing Director (MD), and Chief Executive Officer (CEO), Sanjay Agarwal.

IDFC FIRST Bank Introduces Digital EPFO Payment Facility for Online EPF Contributions

• IDFC FIRST Bank has launched Employees' Provident Fund Organisation (EPFO) Payment Services through integration with the Employees' Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment.
• The new service enables employers and establishments to make Employees' Provident Fund (EPF) contributions digitally by initiating payments through the EPFO Portal and completing them via IDFC FIRST Bank's Retail and Corporate Internet Banking platforms.
• The integration provides a fully digital, secure, and paperless payment solution for Provident Fund (PF) contributions.
• The service offers real-time transaction confirmation, instant challan download, and an intuitive user interface for easier payment processing and record maintenance.
• The facility supports easy reconciliation of PF payments through instant challan generation.
• The EPFO integration helps businesses ensure timely statutory compliance and efficient cash flow management by enabling seamless digital PF payments throughout the year.
• The payment process begins on the EPFO Portal, while the transaction is securely completed through IDFC FIRST Bank's Internet Banking platform.

About IDFC FIRST Bank :

• IDFC FIRST Bank is a Private Sector Bank headquartered in Mumbai, Maharashtra.
• Managing Director (MD) and Chief Executive Officer (CEO) : V. Vaidyanathan

Bank of Baroda Agrees to USD 600 Million Settlement in NMC Health Lending Dispute

• Bank of Baroda (BoB) has entered into a joint out-of-court settlement with NMC Health PLC and NMC Healthcare Ltd, agreeing to pay USD 600 million (around ₹5,100 crore) to resolve claims related to its lending exposure to the collapsed UAE-based NMC Group.
• The settlement ends the long-running legal proceedings before the Abu Dhabi Global Market (ADGM) Court and the UK Insolvency and Companies Court, avoiding prolonged litigation and legal expenses.
• The settlement was reached without any admission of liability or wrongdoing by Bank of Baroda.
• The agreement resolves all claims against Bank of Baroda arising from the NMC Health case.
• NMC Group collapsed in 2020 following allegations of financial fraud and undisclosed debt, becoming one of the largest corporate failures in the Gulf region.
• Indian banks, including Bank of Baroda, had significant lending exposure to the NMC Group.
• Following the settlement, the legal proceedings against Bank of Baroda in the Abu Dhabi Global Market (ADGM) Court and the United Kingdom (UK) courts will be withdrawn, bringing the dispute to a close.
• The administrators had alleged that Bank of Baroda's Abu Dhabi Branch facilitated financing arrangements and banking transactions that enabled NMC Group to conceal its actual financial position.
• The allegations also stated that certain banks failed to carry out adequate Anti-Money Laundering (AML), Know Your Customer (KYC), and Due Diligence checks, which allegedly contributed to the continuation of the fraud.

Recent News :

• In July 2026, Bank of Baroda (BoB) and Japan's Mizuho Bank signed a strategic partnership agreement to strengthen cooperation in Merger & Acquisition (M&A) financing, structured lending, cross-border financing, and corporate & investment banking services.

About Bank of Baroda :

• Founded : 20 July 1908
• Headquarters : Vadodara, Gujarat, India
• MD & CEO : Debadatta Chand

Pension Fund Regulatory and Development Authority Forms Accelerated Scaling of Global Capital Ecosystem and NPS Development Committee to Boost National Pension System Through Global Pension Fund Investments

• Pension Fund Regulatory and Development Authority (PFRDA) has constituted the ASCEND (Accelerated Scaling of Global Capital Ecosystem and NPS Development) Committee to strengthen the National Pension System (NPS) by attracting global pension fund investments into India.
• The ASCEND Committee will prepare a roadmap for collaboration between Indian pension funds under the NPS framework and leading global pension funds to channel long-term, stable capital into infrastructure and other strategic sectors, while safeguarding NPS subscribers’ interests.
• The ASCEND Committee is chaired by Dinesh Khara, Chairman of the NPS Trust.
• Other members of the ASCEND Committee include Narayan Ramachandran (Chairman, TeamLease Services), Ananth Narayan (Former Whole-Time Member, SEBI), Ashvin Parekh (Managing Partner, Ashvin Parekh Advisory Services), Arvind Gupta (Trustee, NPS Trust), and Suparna Tandon (CEO, NPS Trust), who serves as the Member Secretary.
• India’s National Pension System (NPS) currently manages assets worth around USD 185 billion (approximately ₹17.5 lakh crore), equivalent to nearly 5% of India’s Gross Domestic Product (GDP), making it one of the country’s largest sources of long-term domestic savings.
• The initiative aims to attract global pension capital to finance roads, railways, ports, airports, renewable energy projects, and other major infrastructure investments requiring patient long-term funding.
• Under the proposed framework, Indian pension funds and international pension funds may collaborate through co-investment platforms, strategic partnerships, and innovative investment structures.

About PFRDA:

• Established: 2003 (Statutory status from PFRDA Act, 2013)
• Under which Ministry: Ministry of Finance, Government of India
• Headquarters: New Delhi
• Chairman: Sivasubramanian Ramann
• Pension Fund Regulatory and Development Authority (PFRDA) is the statutory regulator responsible for the regulation and supervision of the pension sector in India and functions under the Ministry of Finance, Government of India.

Central Public Sector Enterprises Required to Settle All Micro, Small and Medium Enterprises Invoices Through Trade Receivables Discounting System  Under New MSME Notification

• The Ministry of Micro, Small and Medium Enterprises (MSME), through a notification issued on 30 June 2026, mandated all operating Central Public Sector Enterprises (CPSEs) to settle MSME invoices for goods and services through Trade Receivables Discounting System (TReDS) platforms authorised by the Reserve Bank of India (RBI).
• The new mandate implements a key announcement of the Union Budget FY2026–27, aimed at strengthening MSME financing and ensuring timely payments.
• Under the new framework, CPSEs must route and settle MSME invoices through TReDS, enhancing transparency, accountability, and payment discipline.
• CPSEs are required to disclose details of MSME invoices processed through TReDS and obtain a Statutory Auditor’s Certificate confirming TReDS registration and compliance during the annual audit.
• The initiative will facilitate collateral-free working capital for MSMEs by enabling invoice discounting before the payment due date, improving their liquidity.
• The reform is expected to make CPSEs role models for timely payment practices among large corporate buyers.
• Trade Receivables Discounting System (TReDS) is an RBI-authorised digital platform, operational since 2017, designed to facilitate financing and discounting of trade receivables of MSMEs due from corporate buyers, Government Departments, and Public Sector Undertakings (PSUs) through competitive bidding by multiple financiers.
• TReDS reforms have been implemented in phases: mandatory onboarding of CPSEs and companies with turnover above ₹500 crore (2018), turnover threshold reduced to ₹250 crore (2024), and mandatory TReDS settlement made effective from 30 June 2026.
• At present, five RBI-authorised TReDS platforms are operational: Receivable Exchange of India Limited (RXIL), M1xchange, Invoicemart, C2treds, and Domestic Trade Exchange (DTX).

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Jharkhand Unveils Artificial Intelligence (AI) Policy 2026–31 Roadmap to Boost Digital Economy

• The Government of Jharkhand unveiled the Artificial Intelligence (AI) Policy 2026–31 Roadmap to position the state as a leading Artificial Intelligence (AI)-driven governance and technology hub.
• The roadmap was presented during the National Stakeholder Consultation 2026 in New Delhi.
• The roadmap aims to attract more than ₹10,000 crore in private investment, establish 50+ Global Capability Centres (GCCs), support 1,000 Artificial Intelligence (AI) startups, and create over one lakh Artificial Intelligence (AI)-enabled jobs during 2026–31.
• The Government of Jharkhand plans to invest ₹1,150 crore over five years to develop Artificial Intelligence (AI) infrastructure, strengthen digital governance, promote innovation, and build a robust technology ecosystem.
• The policy focuses on integrating Artificial Intelligence (AI) into public administration through predictive analytics, intelligent decision-making systems, and data-driven governance to improve public service delivery, administrative efficiency, and policymaking.
• Major initiatives proposed under the roadmap include the Chief Minister's Data Intelligence Platform (CM-DIP) for integrated data-driven governance, the Health and Nutrition Vigilance System (HNVS) for monitoring public health and nutrition programmes, and the Critical Minerals Administration System (CMAS) for improving transparency and efficiency in the mining sector.
• The roadmap also seeks to strengthen Jharkhand's Information Technology (IT) ecosystem by promoting startup development, research, skill development, industry partnerships, and Business-to-Government (B2G) collaboration.
• The proposed policy aims to diversify Jharkhand's economy beyond mining and heavy industries by attracting domestic and global technology investments, promoting innovation, and establishing the state as an emerging destination for Global Capability Centres (GCCs).

About Jharkhand:

• Chief Minister: Hemant Soren
• Governor: Santosh Kumar Gangwar
• Capital: Ranchi
• National Parks: Betla National Park, Hazaribagh National Park
• Wildlife Sanctuaries: Dalma Wildlife Sanctuary, Hazaribagh Wildlife Sanctuary, Koderma Wildlife Sanctuary, Palamau Wildlife Sanctuary, Palkot Wildlife Sanctuary, Topchanchi Wildlife Sanctuary

RECENT NEWS

• Jharkhand’s four traditional products named Bhagaiya silk, Kuchai silk, Munda jewellery and Jharkhand bamboo craft received the prestigious GI-(Geographical Identification) tag. This recognition highlights the unique craftsmanship, traditional knowledge and cultural significance which associated with these products and opens the new avenues for the branding, exports and rural development. 

Uttar Pradesh to Implement Nishulk Boring Yojana 2026 for Free Borewell Installation

• The Government of Uttar Pradesh is set to implement the Uttar Pradesh Nishulk Boring Yojana 2026 to provide free borewell (boring) installation and subsidised pump sets for eligible farmers to improve irrigation facilities and agricultural productivity.
• The scheme primarily targets small and marginal farmers, enabling them to access groundwater for irrigation, reduce dependence on monsoon rainfall, and increase crop yields.
• Originally launched in 1985, the Uttar Pradesh Nishulk Boring Yojana continues to strengthen irrigation infrastructure and support sustainable agricultural development across the state.
• Under the scheme, eligible farmers will receive free agricultural borewell installation along with pump sets of up to 5 Horsepower (HP) at subsidised rates or free, depending on eligibility.
• The scheme aims to provide affordable irrigation, improve farm income, enhance year-round cultivation, and reduce the financial burden of installing irrigation infrastructure.
• Small farmers with landholdings of up to 2 hectares and marginal farmers with landholdings of up to 1 hectare are eligible for the scheme. Scheduled Caste (SC) and Scheduled Tribe (ST) farmers are eligible irrespective of landholding limits, subject to applicable provisions.
• Applicants must be permanent residents of Uttar Pradesh, own agricultural land in the state, and should not already possess an agricultural borewell.
• Applications can be submitted through the Uttar Pradesh Minor Irrigation Department after providing the required documents, including Aadhaar Card, land records (Khasra/Khatauni), bank passbook, domicile certificate, and other supporting documents.

RECENT NEWS

• The state government of the Uttar Pradesh launched the ‘Project Ganga’’, it is the transformative initiative which aimed at to expanding the high-speed internet connectivity in the rural areas of state. It was launched  by the Chief Minister Yogi Adityanath in Lucknow and this project seeks to bridge the digital divide by providing last-mile connectivity to villages along with creating the employment opportunities and promoting entrepreneurship.

Delhi Makes Pink Saheli Smart Card Mandatory for Free Bus Travel from 1 August 2026

• The Government of Delhi has made the Pink Saheli Smart Card mandatory for women to avail free travel on Delhi Transport Corporation (DTC) and Delhi Integrated Multi-Modal Transit System (DIMTS) Cluster buses from 1 August 2026.
• The Pink Saheli Smart Card will replace the existing paper-based pink ticket system as part of the government's initiative to digitise public transport services, improve transparency, and prevent misuse of the free travel scheme.
• From 1 August 2026, paper pink tickets will no longer be valid. Eligible women passengers must carry the Pink Saheli Smart Card and tap it on the card reader while boarding the bus to avail free travel.
• Women who do not possess the Pink Saheli Smart Card after the implementation date will be required to purchase regular bus tickets for travel.
• The initiative aims to promote paperless ticketing, improve ticket verification, enhance operational efficiency, ensure transparent implementation of the scheme, and reduce fraudulent claims.
• The new system will be applicable on buses operated by the Delhi Transport Corporation (DTC) and the Delhi Integrated Multi-Modal Transit System (DIMTS).
• To facilitate implementation, the Government of Delhi has established 50 authorised registration centres across the city, where eligible women can apply for the Pink Saheli Smart Card.

About Delhi :

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Taranjit Singh Sandhu
• Capital: New Delhi
• National Parks: None
• Wildlife Sanctuaries: Asola Bhatti (Indira Priyadarshini) Wildlife Sanctuary

Uttar Pradesh Implements Mahila Udyam Nidhi Yojana 2026 to Promote Women Entrepreneurship

• The Government of Uttar Pradesh is implementing the Uttar Pradesh Mahila Udyam Nidhi Yojana 2026 to provide affordable credit to women entrepreneurs for establishing or expanding micro and small enterprises, with the objective of promoting self-employment and financial independence.
• The scheme, implemented through Uttar Pradesh Mahila Nidhi, was originally launched in 2016 to improve women's access to institutional finance and encourage entrepreneurship across the state.
• Under the scheme, eligible women can avail loans ranging from ₹50,000 to ₹10 lakh at a concessional interest rate of around 4%. Collateral is not required for loans up to ₹2 lakh, making credit more accessible to first-time entrepreneurs.
• The scheme aims to promote women entrepreneurship, strengthen financial inclusion, support micro-enterprises, generate self-employment opportunities, and improve the socio-economic status of women in Uttar Pradesh.
• Priority is given to Self-Help Group (SHG) members, widows, women with disabilities, and women belonging to socially disadvantaged and minority communities during loan disbursement.
• Eligible applicants must be women aged between 18 and 60 years, permanent residents of Uttar Pradesh, have an annual family income below ₹3 lakh, possess an Aadhaar-linked bank account, and have a viable business proposal or an existing micro or small enterprise. A Credit Information Bureau (India) Limited (CIBIL) score may be considered for higher-value loans.
• Applications can be submitted through the official portal or the nearest Uttar Pradesh Mahila Nidhi district office after submitting the prescribed application form, business plan, and supporting documents.

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kishanpur Wildlife Sanctuary, Hastinapur Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, Kaimur Wildlife Sanctuary, Bakhira Wildlife Sanctuary, Nawabganj Bird Sanctuary, Okhla Bird Sanctuary

Gujarat Launches ‘Viksit Gujarat – Data Centre Policy 2026–29’ to Promote Digital Infrastructure

• The Government of Gujarat launched the ‘Viksit Gujarat – Data Centre Policy 2026–29’ to position the state as a leading hub for hyperscale data centres, Artificial Intelligence (AI) infrastructure, cloud computing, and digital services.
• Chief Minister Bhupendra Patel unveiled the policy in Gandhinagar, Gujarat, with the objective of attracting domestic and global investments in digital infrastructure and strengthening the state's technology ecosystem.
• The policy recognises data centres as strategic infrastructure and aims to support the growing demand for digital payments, cloud services, Artificial Intelligence (AI), e-governance, and modern digital businesses.
• The policy provides several fiscal incentives, including capital subsidies, interest subsidies, power tariff support, State Goods and Services Tax (SGST) reimbursement, electricity duty reimbursement, stamp duty exemptions, and assistance for desalination plants.
• It also offers non-fiscal incentives, such as simplified approval processes, ease of doing business, and an investor-friendly ecosystem to encourage the establishment of hyperscale data centres and Artificial Intelligence (AI) infrastructure.
• Science and Technology Department Secretary P. Bharathi stated that while India generates nearly 20% of the world's data, it accounts for only about 3% of global data centre capacity, highlighting the need to expand domestic digital infrastructure.
• Gujarat offers a strong infrastructure base with approximately 69 Gigawatts (GW) of installed power capacity, including nearly 47 Gigawatts (GW) from renewable energy sources, ensuring reliable power supply for energy-intensive data centres.
• The policy also leverages the state's key industrial ecosystems, including the Dholera Special Investment Region (SIR), Gujarat International Finance Tec-City (GIFT City), industrial corridors, and robust logistics connectivity to support next-generation digital infrastructure.

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

• The state of Gujarat is making its first stride towards contemporary water resource management with the development of its first two air-filled rubber dams constructed with advanced technology from South Korea. 

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

State Bank of India Divests 1.42% Stake in SBI Funds Management Through Pre-Initial Public Offering Placement

• State Bank of India (SBI) sold a 1.42% stake in its asset management subsidiary SBI Funds Management Limited (SBIFM) through a pre-Initial Public Offering (IPO) placement, raising ₹1,655 crore.
• SBI sold 2.88 crore equity shares to 30 institutional investors at ₹574 per share, which was the upper end of the IPO price band.
• The pre-IPO placement was completed ahead of the ₹11,700 crore IPO, which is scheduled to open on 14 July 2026.
• The 30 institutional investors included Tata AIG General Insurance, Go Digit General Insurance, 360 ONE Funds, and Bennett Coleman, among others.
• Following the transaction, SBI and Amundi India Holding will together divest around 10% of SBIFM’s paid-up equity through the IPO.
• The proposed IPO is an Offer for Sale (OFS), meaning the existing shareholders are selling their shares and SBI Funds Management Limited (SBIFM) will not receive any proceeds from the issue.

About SBI Funds Management Limited (SBIFM) :

• SBI Funds Management Limited (SBIFM) is India’s largest Asset Management Company (AMC) and operates as a joint venture between State Bank of India (SBI) and Amundi, Europe’s largest asset manager.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Government of India Approves Dixon Technologies–Vivo Mobile India Joint Venture for Smartphone Manufacturing in India

• The Government of India (GoI) approved the formation of a Joint Venture (JV) between Dixon Technologies (India) Limited and Vivo Mobile India Limited (VMI) for the manufacturing of electronic devices and smartphones in India.
• As per the JV agreement and shareholders’ agreement, the proposed entity will function as an Original Equipment Manufacturer (OEM) for electronic devices, particularly smartphones.
• Under the shareholding structure, Dixon Technologies will hold a 51% stake, while Vivo Mobile India Limited (VMI) will own the remaining 49% stake in the Joint Venture.
• The Joint Venture (JV) will be incorporated with an initial paid-up capital of ₹5 crore, contributed by both companies in proportion to their respective shareholding.
• The approval allows Vivo Mobile India Limited (VMI) to participate in the JV under Note 3 of 2020 issued by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Ministry of Commerce and Industry (MoC&I).
• Note 3 of 2020 mandates that entities from countries sharing a land border with India, including China, must obtain prior approval from the Government of India before making investments in India.
• Since the Joint Venture is yet to be incorporated, no financial consideration has been exchanged between the two companies.
• After incorporation, the JV will acquire selected manufacturing assets and enter into a manufacturing and packaging agreement with Vivo Mobile India Limited (VMI) to execute a portion of its OEM orders.

China Successfully Recovers Long March-10B Reusable Rocket Booster for the First Time

• China successfully achieved the first controlled recovery of an orbital-class reusable rocket booster following the maiden launch of the Long March-10B carrier rocket from Hainan Province, China.
• The Long March-10B was developed by the China Academy of Launch Vehicle Technology (CALT) and successfully placed its payload into orbit, while its first-stage booster was recovered on a sea-based net platform.
• This mission marks China’s first-ever controlled recovery of an orbital-class reusable rocket booster, representing a major breakthrough in the country’s reusable space technology.
• The achievement comes more than a decade after SpaceX, which became the first company in the world to recover an orbital-class rocket booster with the Falcon 9 in 2015.
• The Long March-10B is a liquid-fuelled reusable launch vehicle designed to support China’s reusable rocket programme and reduce launch costs through booster reuse.
• The rocket is 63 metres tall, has a 5-metre diameter, a lift-off mass of 760 tonnes, generates 890 tonnes of thrust, and can carry a 16-tonne payload to Low Earth Orbit (LEO).
• Low Earth Orbit (LEO) is the operational destination for the Long March-10B, supporting satellite launches and other space missions.
• Unlike SpaceX’s Falcon 9, which performs vertical landings, the Long March-10B uses landing hooks to enable sea-based net recovery of its first-stage booster.
• China plans to reuse the recovered first-stage booster by the end of 2026, marking another important step toward establishing a fully reusable launch system.

Recent News :

• In July 2026, China successfully launched its latest oceanographic satellite, Haiyang (HY)-2E, aboard a Long March 4B rocket from the Jiuquan Satellite Launch Center, Northwest China.

About China:

• Capital: Beijing
• Currency: Renminbi (CNY)

CURRENT AFFAIRS : DEFENCE NEWS

INS Sudarshini Joins Grand Parade of Sails at Sail Boston 2026 During Lokayan 2026 Voyage

• Indian Naval Sail Training Ship (STS) INS Sudarshini arrived at Boston, United States of America (USA) on 12 July 2026 after successfully participating in the Sail4th 250 celebrations at New York.
• INS Sudarshini participated in the Grand Parade of Sails, marking the commencement of Sail Boston 2026.
• Shri Raghuram Sastry, Consul General of India in Boston, embarked on INS Sudarshini during the Grand Parade of Sails and the ship's ceremonial entry into Boston.
• Sailing proudly with the Indian Tricolour, INS Sudarshini passed major Boston landmarks including Castle Island and the Seaport District before berthing at Boston Fish Pier.
• INS Sudarshini joined an international fleet of over 60 tall ships representing more than 20 countries, showcasing India's maritime presence at Sail Boston 2026.
• The ship is representing India as a maritime ambassador of goodwill during its ongoing Lokayan 2026 Transoceanic Expedition.
• The visit highlights the Indian Navy’s commitment to maritime diplomacy, international goodwill, cultural exchange, and global naval cooperation.
• INS Sudarshini remained open to visitors from 12–15 July 2026, promoting India’s maritime heritage and strengthening people-to-people engagement.
• Before reaching Boston, INS Sudarshini successfully completed port calls at Norfolk, Baltimore, and New York.
• The participation of INS Sudarshini in Sail Boston 2026 further strengthens the India–United States maritime partnership and showcases India’s rich seafaring heritage on the global stage.

India and Japan Hold 8th Defence Policy Dialogue to Strengthen Strategic Defence Cooperation

• India and Japan held the 8th Defence Policy Dialogue in Tokyo, Japan, on 13 July 2026 to strengthen bilateral defence and strategic cooperation.
• The Indian delegation was led by Defence Secretary Shri Rajesh Kumar Singh, while the Japanese delegation was headed by Vice Minister of Defence for International Affairs Mr. Kano Koji.
• Both countries reviewed the progress made since the previous dialogue and reaffirmed their commitment to further strengthening the India–Japan Special Strategic and Global Partnership.
• The dialogue included discussions on the regional and global security environment and exchanged views on issues of mutual strategic interest.
• Both sides reviewed the entire spectrum of bilateral defence cooperation, including military-to-military exchanges, joint headquarters cooperation, maritime cooperation, defence exercises, capacity building, defence equipment, maritime technology, and institutional interactions.
• India and Japan welcomed the steady expansion of defence ties and emphasized the importance of regular high-level exchanges and dialogue mechanisms.
• The two countries discussed the agenda and expected outcomes of the upcoming India–Japan 2+2 Ministerial Dialogue, scheduled later in 2026.
• Both sides agreed to deepen cooperation in defence industrial collaboration, technological innovation, cyber security, space, and other emerging strategic domains.
• India and Japan reiterated their shared commitment to promoting a Free, Open and Rules-Based Indo-Pacific, founded on respect for international law.
• At the beginning of his visit, Rajesh Kumar Singh laid a wreath at the Self-Defense Forces Memorial Stone in Tokyo, paying tribute to personnel of the Japan Self-Defense Forces who made the supreme sacrifice.
• The visit highlighted the deepening India–Japan defence partnership, mutual respect, and shared commitment to peace, security, and stability in the Indo-Pacific region.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Australia Launch Roadmap for Sports Collaboration to Strengthen Bilateral Sports Cooperation

• Prime Minister Narendra Modi announced the India–Australia Roadmap for Sports Collaboration during his visit to Australia to strengthen long-term cooperation in coaching, sports science, athlete development, sports technology, major sporting events, and women in sports.
• The roadmap builds upon the 2023 Memorandum of Understanding (MoU) on Cooperation in Sports and provides a comprehensive framework for collaboration in skill development, capacity building, sports research, sports governance, and sports industry partnerships.
• The initiative aims to enhance cooperation ahead of major international sporting events, including the Commonwealth Games 2030 in Ahmedabad and the Olympic and Paralympic Games 2032 in Brisbane, Australia, while supporting India's long-term aspiration to host the Olympic Games.
• India and Australia will collaborate on sports event management, athlete training, sports infrastructure, support systems, and competition preparation to improve performance in international sporting events.
• Both countries will organise exhibition matches and youth tournaments in sports such as Kabaddi, Kho Kho, Australian Rules Football (AFL), and Basketball to promote sporting exchanges and people-to-people ties.
• Under the roadmap, Cricket Australia and the Board of Control for Cricket in India (BCCI) will work together to organise Big Bash League (BBL) matches in India, with the first match scheduled to be held in Chennai in December 2026, followed by annual matches.

About Australia

• Capital: Canberra
• Prime Minister: Anthony Albanese
• Currency: Australian Dollar (AUD)

Department of Posts (DoP) and Telecom Regulatory Authority of India (TRAI) Sign Memorandum of Understanding (MoU) for India's Largest Rural Telecom Network Survey

• The Department of Posts (DoP) and the Telecom Regulatory Authority of India (TRAI) signed a Memorandum of Understanding (MoU) to conduct India's largest-ever rural telecom network performance survey across 5.68 lakh villages.
• The survey aims to assess the availability, coverage, and quality of mobile telecom services in rural India and provide scientific data to support evidence-based policy decisions and strengthen the country's digital infrastructure.
• The initiative will evaluate the performance of major telecom service providers, including Bharti Airtel, Reliance Jio, Vodafone Idea (Vi), and Bharat Sanchar Nigam Limited (BSNL).
• The survey will cover all States and Union Territories and identify issues such as poor network coverage, call drops, weak signal strength, and slow internet connectivity, particularly in remote and underserved villages.
• The survey will be conducted using the Department of Posts' extensive rural network through Gramin Dak Sevaks (GDS) and an Android-based mobile application, ensuring coverage even in difficult-to-access areas.
• The findings will help the Government of India and telecom operators identify connectivity gaps, improve telecom infrastructure, enhance mobile services in rural areas, and support the Digital India initiative.
• The initiative is being implemented under the leadership of Union Minister for Communications and Minister for Development of North Eastern Region Jyotiraditya M. Scindia.

About Telecom Regulatory Authority of India (TRAI)

• Established: 1997
• Headquarters: New Delhi
• Chairperson: Anil Kumar Lahoti

About Department of Posts (DoP)

• Ministry: Ministry of Communications
• Established: 1854
• Headquarters: New Delhi
• Chairperson: Shri Subrat Das

India and New Zealand Upgrade Bilateral Ties to Strategic Partnership; Sign 10 Agreements and Memoranda of Understanding (MoUs)

• India and New Zealand upgraded their bilateral relationship to a Strategic Partnership by launching the India–New Zealand Strategic Partnership Roadmap 2030 and signing 10 agreements and Memoranda of Understanding (MoUs) during Prime Minister Narendra Modi's official visit to New Zealand.
• The Strategic Partnership Roadmap 2030 aims to strengthen cooperation in defence, security, trade and investment, maritime cooperation, agriculture, tourism, sports, culture, education, scientific research, and global affairs.
• The two countries signed key agreements on maritime cooperation, hydrography and nautical cartography, mutual logistics support between the Indian Navy and the New Zealand Defence Force, counter-terrorism, disaster management, animal husbandry and dairying, tourism, sports, maritime heritage, and cultural cooperation.
• India and New Zealand also agreed to double bilateral trade to New Zealand Dollar (NZD) 7 billion (approximately ₹35,000 crore) by 2030 and establish a Maritime Security Dialogue to strengthen cooperation in the Indo-Pacific region.
• New Zealand announced its decision to join the Global Biofuels Alliance and nominated Maritime Security as its priority pillar under the Indo-Pacific Oceans Initiative (IPOI).
• Both countries launched the Kiwifruit Action Plan and announced the establishment of two Centres of Excellence for Kiwifruit in Nagaland and Uttarakhand to promote research and productivity in the horticulture sector.
• Additional Memoranda of Understanding (MoUs) were signed between the National Centre for Polar and Ocean Research (NCPOR), Goa and the University of Canterbury, New Zealand, and between the National Institute of Food Technology Entrepreneurship and Management, Kundli (NIFTEM-K) and Massey University, New Zealand, to strengthen cooperation in scientific research, polar studies, and food technology.

About New Zealand

• Capital: Wellington
• Prime Minister: Christopher Luxon
• Currency: New Zealand Dollar (NZD)

India and Australia Announce 18 Agreements and Initiatives at the Third India–Australia Annual Summit

• Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese announced 18 agreements and initiatives during the Third India–Australia Annual Summit, marking a major expansion of the India–Australia Comprehensive Strategic Partnership.
• The agreements strengthen cooperation in defence, maritime security, clean energy, civil nuclear energy, cybersecurity, critical technologies, education, skill development, research, mining, and cultural cooperation, while reaffirming the shared vision of a free, open, inclusive, and rules-based Indo-Pacific.
• The major outcomes include the Joint Declaration on Defence and Security Cooperation (JDDSC), Maritime Security Cooperation Roadmap (MSCR), India–Australia Joint Declaration on Energy Security, and the finalisation of the Administrative Arrangement under the India–Australia Civil Nuclear Cooperation Agreement.
• Both countries launched the Australia–India Partnership for Cyber, Critical Technologies and Supply Chains (PACTS) and signed a Memorandum of Understanding (MoU) under the Australia–Canada–India Technology and Innovation Partnership (ACITI) to strengthen cooperation in cybersecurity, Artificial Intelligence (AI), critical technologies, innovation, and resilient supply chains.
• Other important agreements include a Memorandum of Understanding (MoU) between the Indian Coast Guard (ICG) and the Maritime Border Command (MBC) of Australia, a Memorandum of Understanding (MoU) on Mining and Mining Equipment, Technology and Services (METS) Centre of Excellence, and a Memorandum of Understanding (MoU) between Geoscience Australia and the Geological Survey of India (GSI).
• The summit also strengthened education cooperation through the establishment of Flinders University campus in Bengaluru, Victoria University campus in Gurugram, a Letter of Intent between the National Council for Vocational Education and Training (NCVET) and the Australian Skills Quality Authority (ASQA), and the launch of a Rooftop Training Academy.
• Additional initiatives include the restoration of three Indian cultural artefacts, a Memorandum of Understanding (MoU) between the Council of Scientific and Industrial Research (CSIR) and the University of Melbourne, a Memorandum of Understanding (MoU) between the Satyajit Ray Film and Television Institute (SRFTI), Kolkata, and the Griffith Film School, and an agreement providing access to the Traditional Knowledge Digital Library (TKDL).

Daily CA One- Liner: July 14

• The Government of Jharkhand unveiled the Artificial Intelligence (AI) Policy 2026–31 Roadmap to position the state as a leading Artificial Intelligence (AI)-driven governance and technology hub
• The Government of Delhi has made the Pink Saheli Smart Card mandatory for women to avail free travel on Delhi Transport Corporation (DTC) and Delhi Integrated Multi-Modal Transit System (DIMTS) Cluster buses from 1 August 2026
• The Government of Uttar Pradesh is implementing the Uttar Pradesh Mahila Udyam Nidhi Yojana 2026 to provide affordable credit to women entrepreneurs for establishing or expanding micro and small enterprises, with the objective of promoting self-employment and financial independence
• The Government of Uttar Pradesh is set to implement the Uttar Pradesh Nishulk Boring Yojana 2026 to provide free borewell (boring) installation and subsidised pump sets for eligible farmers to improve irrigation facilities and agricultural productivity
• The Government of Gujarat launched the ‘Viksit Gujarat – Data Centre Policy 2026–29’ to position the state as a leading hub for hyperscale data centres, Artificial Intelligence (AI) infrastructure, cloud computing, and digital services

• Prime Minister Narendra Modi announced the India–Australia Roadmap for Sports Collaboration during his visit to Australia to strengthen long-term cooperation in coaching, sports science, athlete development, sports technology, major sporting events, and women in sports.

• The Department of Posts (DoP) and the Telecom Regulatory Authority of India (TRAI) signed a Memorandum of Understanding (MoU) to conduct India's largest-ever rural telecom network performance survey across 68 lakh villages
• India and New Zealand upgraded their bilateral relationship to a Strategic Partnership by launching the India–New Zealand Strategic Partnership Roadmap 2030 and signing 10 agreements and Memoranda of Understanding (MoUs) during Prime Minister Narendra Modi's official visit to New Zealand
• Prime Minister Narendra Modi and Australian Prime Minister Anthony Albanese announced 18 agreements and initiatives during the Third India–Australia Annual Summit, marking a major expansion of the India–Australia Comprehensive Strategic Partnership.
• The Reserve Bank of India (RBI) launched the Inflation Expectations Survey of Households (IESH), Rural Consumer Confidence Survey (RCCS), and Urban Consumer Confidence Survey (UCCS) to collect household feedback on inflation, economic conditions, employment, income, and spending.
• AU Small Finance Bank Limited (AU SFB) partnered with Zaggle Prepaid Ocean Services Limited (Zaggle) to launch the AU Zaggle Co-Branded Retail Credit Card on the Visa and RuPay payment networks through the zagg.money platform.
• IDFC FIRST Bank has launched Employees' Provident Fund Organisation (EPFO) Payment Services through integration with the Employees' Provident Fund Organisation (EPFO) under the Ministry of Labour and Employment.
• Bank of Baroda (BoB) has entered into a joint out-of-court settlement with NMC Health PLC and NMC Healthcare Ltd, agreeing to pay USD 600 million (around ₹5,100 crore) to resolve claims related to its lending exposure to the collapsed UAE-based NMC Group.
• Pension Fund Regulatory and Development Authority (PFRDA) has constituted the ASCEND (Accelerated Scaling of Global Capital Ecosystem and NPS Development) Committee to strengthen the National Pension System (NPS) by attracting global pension fund investments into India.
• The Ministry of Micro, Small and Medium Enterprises (MSME), through a notification issued on 30 June 2026, mandated all operating Central Public Sector Enterprises (CPSEs) to settle MSME invoices for goods and services through Trade Receivables Discounting System (TReDS) platforms authorised by the Reserve Bank of India (RBI).
• State Bank of India (SBI) sold a 1.42% stake in its asset management subsidiary SBI Funds Management Limited (SBIFM) through a pre-Initial Public Offering (IPO) placement, raising ₹1,655 crore.
• The Government of India (GoI) approved the formation of a Joint Venture (JV) between Dixon Technologies (India) Limited and Vivo Mobile India Limited (VMI) for the manufacturing of electronic devices and smartphones in India.
• China successfully achieved the first controlled recovery of an orbital-class reusable rocket booster following the maiden launch of the Long March-10B carrier rocket from Hainan Province, China.
• Indian Naval Sail Training Ship (STS) INS Sudarshini arrived at Boston, United States of America (USA) on 12 July 2026 after successfully participating in the Sail4th 250 celebrations at New York.
• India and Japan held the 8th Defence Policy Dialogue in Tokyo, Japan, on 13 July 2026 to strengthen bilateral defence and strategic cooperation.