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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Proposes Unified Framework to Standardise Loan Pricing and Interest Rate Practices

• The Reserve Bank of India (RBI) has proposed draft rules making external benchmark-linked loans optional for Non-Banking Financial Companies (NBFCs) while aiming to ensure fair and transparent interest-rate practices across regulated entities.
• Under the proposed framework, NBFCs, All-India Financial Institutions (AIFIs), Regional Rural Banks (RRBs) and Cooperative Banks may choose to offer floating-rate loans linked to an external benchmark to any category of borrower.
• The draft rules state that interest rates on loans up to ₹50,000 should not be usurious, and regulated entities must explicitly prescribe a ceiling on the Annual Percentage Rate (APR) for microfinance and small-value loans.
• The APR ceiling must include interest, charges and fees, ensuring greater transparency in the total cost of borrowing for borrowers.
• For short-term agricultural loans provided to small and marginal farmers, the total amount of interest, charges and fees cannot exceed the principal amount.
• Under the proposed framework, a short-term agricultural loan is defined as a loan having an original tenor of up to one year.
• All existing loans must be migrated to the new interest-rate framework through a one-time mapping exercise by April 1, 2029.
• Lenders cannot impose any charges or fees specifically for the migration of existing loans to the new interest-rate framework.
• The migration of existing loans will require borrower consent, ensuring that borrowers are informed and involved in the transition.
• The migration must not result in an immediate increase in the interest rate applicable to the loan just before the transition.
• Lenders must follow a Board-approved policy for determining the spread over the applicable benchmark, promoting consistency and transparency in interest-rate setting.

Reserve Bank of India Imposes ₹59.20 Lakh Penalty on IndusInd Bank for Regulatory Violations

• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹59.20 lakh on IndusInd Bank, for non-compliance with RBI directions on Interest Rate on Deposits and Securitisation of Standard Assets.
• The penalty on IndusInd Bank was imposed after RBI found that the bank had paid interest on deposits maintained in certain current accounts and had undertaken activities in the nature of “Synthetic Securitisation.”
• RBI imposed a ₹6.20 lakh penalty on Northern Arc Capital for deficiencies under the directions on Disclosures in Financial Statements – Notes to Accounts and Internal Ombudsman for Regulated Entities.
• Northern Arc Capital was found to have disclosed incorrect and incomplete information about customer complaints in its Annual Financial Statements for 2024-25.
• Northern Arc Capital also failed to automatically escalate certain rejected complaints to its Internal Ombudsman, resulting in non-compliance with RBI directions.
• Fusion Finance Limited was fined ₹2.70 lakh for violating the RBI KYC Directions.
• Fusion Finance Limited failed to establish a system for reviewing the risk categorisation of accounts at least once every six months, as required under RBI directions.
• Muthoot MCred Limited was penalised ₹3.10 lakh for non-compliance with RBI directions on Asset Classification.
• Muthoot MCred Limited had upgraded certain Non-Performing Assets (NPAs) to “Standard” without obtaining repayment of the entire outstanding arrears of interest and principal across all credit facilities.

Government’s FY26 Debt-to-gross domestic product Ratio Hits 58.2%, 210 bps Above Target

• The Central Government’s debt-to-gross domestic product (GDP) ratio stood at 58.2% in FY26 (2025–26), which was 210 basis points higher than the government’s target of 56.1%.
• Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha about the government’s debt-to-GDP position in a written response.
• Despite missing its FY26 debt target, the government has achieved fiscal consolidation, with the fiscal deficit declining sharply from 9.2% of GDP in FY21 (2020–21) to 4.4% of GDP in FY26, based on provisional actuals.
• The Central Government’s total outstanding liabilities also declined from 61.5% of GDP in FY21 to 58.2% of GDP in FY26.
• The government missed its FY26 debt-to-GDP target partly because of a downward revision in nominal GDP following the introduction of a new GDP series with FY23 as the base year.
• For FY27 (2026–27), the government has set a debt-to-GDP target of 55.6% in the Budget Estimates (BE).
• To achieve the FY27 target, the government needs to reduce the debt-to-GDP ratio by approximately 260 basis points, from 58.2% in FY26 to 55.6% in FY27.
• The government is relying on a ₹1 trillion (₹1 lakh crore) Economic Stabilisation Fund to provide additional fiscal space during FY27.
• The Economic Stabilisation Fund was established by the Finance Ministry in March 2026.
• The government is facing tight fiscal space amid the ongoing West Asia conflict, which could put additional pressure on government finances.
• Government expenditure on food and fertiliser subsidies is expected to exceed the targeted level, adding pressure to the fiscal position.
• The government may also face a revenue shortfall following special additional excise duty cuts on fuel and tax exemptions for Foreign Portfolio Investors (FPIs).
• During April–June FY27, the government maintained a relatively tight grip on the fiscal deficit, with the deficit increasing by only 9.6% year-on-year to ₹3.10 trillion.

Logistics Data Bank Tracks 10 Crore EXIM Containers, Enhancing Visibility Across India’s Logistics Network

• The Logistics Data Bank (LDB) has tracked 10 crore EXIM containers since its launch in 2016, marking a major milestone in India’s technology-driven logistics sector.
• The LDB provides visibility of EXIM (Export-Import) container movement across India through technology-based tracking systems.
• The platform provides visibility across the entire logistics chain and supplies container movement information to stakeholders for effective monitoring.

Key Highlights :

• The LDB provides visibility of 100% of India’s EXIM container movement using Radio Frequency Identification (RFID)-based technology.
• The LDB network covers 19 ports and 32 container terminals across India.
• Its network also extends to 103 Inland Container Depots (ICDs), 439 Container Freight Stations (CFSs), Empty Yards, Parking Plazas and Industrial Zones.
• The LDB network covers 89 Manufacturing Special Economic Zones (SEZs), 5,569 railway stations, 269 toll plazas and 3 Integrated Check Posts (ICPs).
• The platform provides analytics on dwell time, transit time, port performance and terminal performance, helping stakeholders monitor logistics operations.
• LDB analytics help stakeholders identify bottlenecks and improve the efficiency of logistics operations and supply chains.
• LDB 2.0 was launched by Union Minister of Commerce and Industry Piyush Goyal in September 2025.
• LDB 2.0 expanded the platform’s capabilities by enabling high-seas tracking of India’s export containers and providing multimodal shipment visibility.
• The LDB uses advanced technologies including RFID, Internet of Things (IoT), Big Data and Cloud technologies to track containers.
• These technologies enable container tracking across ports, railway networks, industrial zones, borders and highways, providing near real-time visibility of container movement.
• The World Bank’s Logistics Performance Index (LPI) has recognised the role of the Logistics Data Bank in improving India’s logistics performance.
• The LDB records an average of more than 1.5 crore container searches every month, highlighting its extensive use by logistics stakeholders.
• Container tracking services are available through the single-window LDB platform at ldb.co.in.
• NICDC Logistics Data Services Limited (NLDSL) works on logistics technology solutions, including the Logistics Data Bank (LDB) and Unified Logistics Interface Platform (ULIP).
• LDB and ULIP use digital technologies to promote efficiency, transparency and digitisation in India’s logistics sector.

About NLDSL :

• NLDSL was established on 30 December 2015 with the objective of using Information and Communication Technology (ICT) to enhance efficiency in the Indian logistics sector.
• NLDSL is a joint venture between the Government of India, represented by the National Industrial Corridor Development and Implementation Trust (NICDIT), and Japan’s NEC Corporation.

DFS Explains Mechanism for Timely Resolution of Insurance Policyholders’ Grievances

• The Insurance Regulatory and Development Authority of India (IRDAI) has prescribed a strict, time-bound Grievance Redressal Mechanism for resolving policyholder complaints.
• Policyholders facing unfair claim rejection, claim delays, mis-selling or other service-related issues should follow the prescribed grievance escalation process.
• At the insurer level, the Grievance Redressal Officer (GRO) is the nodal officer responsible for dealing with policyholder grievances.
• Every office of an insurer must designate one of its officials as a Grievance Redressal Officer (GRO).
• Every insurer has a Policyholder Protection, Grievance Redressal and Claims Monitoring Committee (PPGR & CM Committee), which is the Board-level Committee responsible for ensuring efficient and effective grievance redressal.
• Every grievance received through the insurer’s digital interface, direct correspondence or call centre is registered in the insurer’s Complaints Management System (CMS).
• The CMS of insurers and the IRDAI’s Bima Bharosa Portal are integrated to facilitate effective monitoring of policyholder grievances.
• Insurers must acknowledge complaints immediately and provide a resolution within 14 days.
• Bima Bharosa Portal is an integrated portal of IRDAI for registering and monitoring policyholder grievances across the insurance industry.
• Policyholders must first approach the Complaints/Grievance Redressal Cell of the concerned insurer before approaching IRDAI.
• If the insurer does not respond within a reasonable period or the policyholder is dissatisfied with the insurer’s response, the complaint can be escalated to the IRDAI Grievance Redressal Cell.
• The escalation is handled through the Policyholders’ Protection & Grievance Redressal Department of IRDAI.
• The official IRDAI Bima Bharosa Portal is available at irdai.gov.in.
• Citizens can also lodge insurance complaints through IRDAI’s toll-free helpline numbers 155255 and 1800-4254-732.
• Policyholders can submit complaints through the official email ID: [email protected].
• Complaints received through physical letters or emails are also registered on the Bima Bharosa Portal for monitoring.
• The IRDAI call centre provides multilingual support in 12 languages, making the grievance mechanism accessible to policyholders across India.

About IRDAI:

• Headquarters (HQ): Hyderabad, Telangana, India
• Chairperson:Ajay Seth
• Founded: 1999 

National Bank for Agriculture and Rural Development Declares Winners of National Climate Stack Innovation Challenge

• The National Bank for Agriculture and Rural Development (NABARD), with support from the Gates Foundation and Dalberg Advisors, announced the winners of the National Climate Stack Innovation Challenge.

Key Highlights :

• The National Climate Stack Innovation Challenge is a national initiative aimed at strengthening DiCRA (Data in Climate Resilient Agriculture) as a Digital Public Infrastructure (DPI) for climate-resilient rural development.
• The challenge was launched to mobilise India’s scientific, academic and innovation ecosystem to develop near-term climate hazard forecasting models and decision-ready digital applications.
• The solutions developed under the challenge are intended to support decision-making in agriculture, rural finance, insurance and public planning.
• The challenge encouraged startups, academic institutions, researchers and private-sector innovators to develop practical digital solutions for farmers, rural lenders, insurers, Farmer Producer Organisations (FPOs) and government agencies.
• SatSure Analytics India Pvt Ltd won the first prize by developing a village-level Climate Vulnerability Index.
• SatSure’s solution combines climate exposure, sensitivity and adaptive capacity to generate dynamic village-level climate-risk scores.
• The SatSure solution uses satellite data and climate datasets to support farmer advisories, financial-sector portfolio assessment, financial risk evaluation and public planning.
• EXPERIQS Pvt Ltd secured the second prize for developing a block-level drought intelligence platform.
• The EXPERIQS platform combines drought indices, vegetation signals/data and climate projections to assess crop-cycle impacts and identify potential financial stress among farmers.
• EXPERIQS also provides API-enabled outputs that can support farmers, Farmer Producer Organisations, rural lenders, insurers and public agencies.
• VARSAPRADAYA Pvt Ltd won the third prize for developing a 3-km, 20-year hazard scoring and advisory engine built on DiCRA.
• The VARSAPRADAYA solution combines climate projections, satellite data and field intelligence to support irrigation scheduling, crop-risk alerts, rural credit assessment, afforestation planning and village-level vulnerability mapping.
• The winners were selected through a multi-stage selection process that began with more than 150 applications from startups, academic institutions, research organisations and private-sector innovators.
• After the initial screening, 20 teams were shortlisted to develop prototypes with inputs from a Technical Advisory Group.
• 11 teams progressed to the final round, where they presented their solutions before an eminent jury comprising experts in climate science, Digital Public Infrastructure, agriculture, finance and public policy.
• The final jury included experts from institutions such as the Reserve Bank of India (RBI), NABARD, World Bank, ThinkAg, Gates Foundation and India Meteorological Department (IMD).
• The final solutions were evaluated on solution coherence, technical depth, usability, integration readiness, Artificial Intelligence (AI) and Machine Learning (ML) approach, team capacity and potential for real-world decision-making.

About NABARD:

• It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India.
• Headquarters: Mumbai, Maharashtra
• Founded: July 12, 1982 by the Government of India
• Chairman: Shaji K V

Frequently Asked Questions -Special Rupee Vostro Account (SRVA)

• Special Rupee Vostro Account (SRVA) is an additional mechanism for settling international trade in Indian Rupees (INR) and is different from the normal Rupee Vostro Account (RVA) provided under the Foreign Exchange Management (Deposit) Regulations, 2016.
• The key difference is that SRVA balances can be used for permissible investments, which distinguishes SRVA from a normal Rupee Vostro Account.
• An Indian branch of a foreign bank can open an SRVA for its headquarters or another foreign branch, provided the Indian branch is an Authorised Dealer (AD) bank.
• Existing Rupee Vostro Accounts cannot be converted into or used as SRVAs, because the nature and functions of the two accounts are different.
• A foreign bank or its branches can maintain multiple SRVAs with different AD banks in India.
• An AD bank in India can open multiple SRVAs for different banks from the same foreign country; it is not restricted to opening only one SRVA per country.
• The INR–foreign currency exchange rate under SRVA is market-determined.
• When there is no direct exchange-rate quote between INR and another currency, the rate can be determined using cross-currency rates based on major currencies such as the USD, EUR and JPY.
• SRVA balances are freely repatriable, allowing the balance to be transferred back outside India subject to applicable regulations.
• Income earned from permissible investments made using SRVA balances can also be repatriated, subject to applicable regulatory guidelines and tax provisions.
• SRVA balances can be used for permissible current-account and capital-account transactions under the existing FEMA framework.
• Investments in debt instruments using SRVA balances are governed by the RBI Master Direction – Non-resident Investment in Debt Instruments Directions, 2025, as amended from time to time.
• INR exposure in an SRVA can be hedged in accordance with the applicable hedging guidelines.
• An overseas bank holding SRVA balances does not require an FPI licence to invest those funds in Treasury Bills (T-Bills) and Government Securities, subject to applicable rules.
• The AD bank maintaining the SRVA in India is responsible for reporting cross-border transactions involving the SRVA of the correspondent bank.
• Settlement of transactions in INR through SRVA reduces exchange-rate risk for Indian exporters and importers, providing greater certainty in international trade payments.
• Details of SRVAs opened by Indian banks can be accessed through the FEDAI SRVA Directory.
• Persons Resident Outside India (PROIs) can settle bona fide transactions with other PROIs using balances held in repatriable INR accounts, including SRVAs and Special Non-Resident Rupee Accounts (SNRR).
• SRVAs can be funded through inward remittances as well as transfers from other repatriable INR accounts, including Rupee Vostro Accounts (RVA) and SNRR accounts.
• Proceeds arising from permissible current-account and capital-account transactions under FEMA can also be credited and held in an SRVA.
• Merchanting Trade Transactions (MTT) can be settled through SRVA, as permissible capital and current-account transactions under FEMA may be settled through this mechanism.

Frequently Asked Questions-Swap Facility for FCNR (B) deposits, External Commercial Borrowings and Overseas Foreign Currency Borrowings

• Indian banks, including their overseas branches, are permitted to extend loans to non-residents or issue Standby Letters of Credit (SBLCs) in favour of overseas lenders against FCNR(B) deposits mobilised under the June 8, 2026 Circular on “Swap Facility for FCNR(B) Deposits”.
• This permission is without prejudice to normal lending or issuance of SBLCs by Authorised Dealer (AD) Banks on a secured or unsecured basis.
• Banks are permitted to extend loans to FCNR(B) account holders and the lending institution may mark a lien on the FCNR(B) deposits.
• Under the swap facility, the Reserve Bank of India (RBI) provides a Forex Swap for the FCNR(B) deposits received by banks through a plain buy/sell foreign exchange swap.
• The RBI Forex Swap covers only the principal amount of the FCNR(B) deposits and does not cover the interest component.
• A bank can undertake an RBI swap for a tenor of less than three years if it has mobilised fresh eligible FCNR(B) deposits with a minimum original tenor of three years under the scheme.
• Therefore, even if the residual maturity is less than three years when the swap is availed, the deposit can qualify provided its original tenor was at least three years.
• Banks may offer differential rates of interest on FCNR(B) deposits, subject to compliance with Paragraph 32(2) of the RBI (Commercial Banks – Interest Rate on Deposits) Directions, 2025.
• Under Para 32(2), interest rates on FCNR(B) term deposits may vary only based on (i) tenor of deposits and (ii) size of deposits.
• Banks may continue to offer regular FCNR(B) deposits without availing the swap facility for deposits having a tenor of 3 years and above up to 5 years.
• Such regular FCNR(B) deposits can be offered without a minimum lock-in period of one year, but banks must maintain separate records for these deposits.
• Borrowers may raise External Commercial Borrowings (ECBs) for any tenor, as permitted under the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026.
• For the FCNR(B) swap facility, ECBs with an average maturity of 3 years and above are eligible.
• The tenor of the swap will be co-terminus with the repayment schedule/maturity of the ECB, subject to a maximum period of 5 years.
• The Application-cum-Declaration forms for availing the FCNR(B) swap facilities are available on the RBI website.
• The operational aspects of the swap facilities are specified in the Application-cum-Declaration form, and the forms are required to be submitted along with the prescribed Excel file.
• The June 8, 2026 RBI circular on the “Swap Facility for FCNR(B) Deposits” is the key regulatory reference for the above facility.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi’s 80th Independence Day Address – Major Announcements (15 August 2026)

• Prime Minister Narendra Modi addressed the nation from the Red Fort on 15 August 2026, marking India’s 80th Independence Day.
• The approximately 75-minute address focused on Aatmanirbharta, critical minerals, energy security, Artificial Intelligence, semiconductor manufacturing, defence, sports, women’s representation and youth empowerment.
• The 2026 Independence Day celebrations marked the 150th year of Vande Mataram.
• Prime Minister Narendra Modi highlighted Yuva Shakti as a key force for achieving Viksit Bharat by 2047 and introduced the Saptadhara (Seven Streams)

Key Highlights

• Saptadhara (Seven Streams) comprises Manufacturing, Farming and Food Processing, Technology and Innovation, Gati Shakti, Raksha Shakti, Green and Blue Economy, and Soft Power.
• India aims to achieve 100 Gigawatts (GW) of nuclear power generation capacity by 2047 to strengthen long-term energy security, with plans to commission five new nuclear reactors within the current decade and further strengthen nuclear infrastructure.
• India achieved a significant milestone in Fast Breeder Reactor technology, which was highlighted as an important step towards self-reliance in nuclear fuel and energy security.
• ₹85,000 crore has been earmarked for deep-sea exploration under the Samudra Manthan initiative, with emphasis on exploring offshore resources and strengthening domestic energy security.
• Semiconductor Manufacturing: India has established three major semiconductor facilities, with production already beginning for exports, while 5–8 additional semiconductor plants are expected to commence operations in the coming 7–8 years.
• India is strengthening critical mineral and energy security, particularly because strategic sectors such as semiconductor manufacturing, Artificial Intelligence and data centres require assured supplies of critical minerals and energy.
• India is working on Free Trade Agreements (FTAs) with more than 40 countries, with Micro, Small and Medium Enterprises (MSMEs) encouraged to utilise these agreements to expand exports and strengthen India's position in global trade.
• Artificial Intelligence (AI) Skill Training: The government aims to provide Artificial Intelligence (AI) skill training to 1 crore (10 million) youth within one year, enabling young Indians to develop capabilities required to lead in the global AI ecosystem.
• Free Online Coaching: A nationwide free online coaching network will be established for youth preparing for competitive examinations, using India’s Digital Public Infrastructure (DPI), teachers and digital resources to reduce the financial burden on families.
• An Innovation Fund of more than ₹1 lakh crore was announced to encourage innovation, young innovators and technology development.
• India aims to have 50 Indian companies among the Fortune 500 within the next decade, while aspiring to have at least one Indian bank and one Indian pharmaceutical company among the global top five in their respective sectors.
• Sports Development: India will host the 2030 Commonwealth Games (CWG) and is a strong contender to host the 2036 Olympic Games, with the aim of substantially increasing India's participation across Olympic events.
• A nationwide sports talent hunt for children aged 5–15 years will be conducted to identify sporting talent from every part of the country and provide selected children with specialised training to develop them into world-class athletes.
• The Prime Minister highlighted the achievements of the Target Olympic Podium Scheme (TOPS) and various Khelo India initiatives, including the Khelo India Games, University Games, Beach Games and Winter Games, along with sports training, sports medicine and sports nutrition.
• Civil Defence: The government will establish a vibrant and modern Civil Defence network with a large volunteer force trained in modern systems and capabilities to protect citizens and respond to contemporary emergencies and crises.
• Prime Minister Narendra Modi reiterated the goal of making India Naxal-free and emphasised that national security is a collective responsibility.
• Nari Shakti Vandan Adhiniyam: The legislation provides for 33% reservation for women in the Lok Sabha and State Legislative Assemblies, subject to the conditions and implementation process prescribed under the law.

Tribunals Reforms Bill, 2026 – Establishment of National Tribunals Commission

• The Tribunals Reforms Bill, 2026 aims to make India’s tribunal system more independent, transparent, efficient and professionally administered, while reducing executive discretion and strengthening accountability.
• The Bill proposes to repeal the Tribunals Reforms Act, 2021 and establish a new National Tribunals Commission (NTC) as a permanent institutional mechanism for appointments, performance review and disciplinary oversight of tribunals.
• The Bill follows the principles laid down by the Supreme Court in the Madras Bar Association judgments concerning the independence of tribunals and proposes a judiciary-led framework for tribunal administration.

Key Highlights

• The National Tribunals Commission (NTC) will consist of 1 Chairperson and 4 Members, including 2 Judicial Members and 2 Technical Members.
• The Chairperson of the NTC must be a former Supreme Court Judge or Chief Justice of a High Court, while the 2 Judicial Members must have served as Chief Justice or Judge of a High Court.
• The 2 Technical Members must have at least 25 years of experience in fields such as public administration, finance, law, accountancy, banking, management or technology.
• The Central Government will formally appoint the Chairperson and Judicial Members of the NTC after consultation with the Chief Justice of India.
• The NTC will conduct selections for Chairpersons and Members of tribunals, monitor tribunal performance, prepare annual reports, supervise inquiries into complaints against tribunal members and maintain the National Tribunals Data Grid containing case-related information of 16 tribunals.
• The National Tribunals Data Grid will serve as a central repository of case-related information relating to the tribunals covered under the Bill.
• The term of the NTC Chairperson and Members will be 5 years or until attaining 70 years of age, whichever is earlier.
• A Tribunal Member will hold office for 5 years or until attaining 67 years of age, whichever is earlier.
• The Bill permits reappointment, with the candidate’s previous service and performance taken into consideration.
• A dedicated Secretariat of the National Tribunals Commission will be headed by a Secretary to the Government of India and will provide administrative support, empanel experts, communicate selection recommendations and prepare the Commission’s annual report.
• The Search-cum-Selection Committees will select Chairpersons and Members of tribunals, with the committees having a strong judicial representation and being chaired by senior judicial members.
• For selection of a Tribunal Chairperson, the committee will include the Chairperson of the NTC, a Technical Member of the NTC, a retired Chief Justice of a High Court, a Secretary to the Government of India, 2 empanelled experts and the Secretary of the NTC as Member Secretary.
• For selection of a Tribunal Member, the committee will include a Judicial Member of the NTC as Chairperson, a Technical Member of the NTC, a retired High Court Judge, a Secretary to the Government of India, 2 empanelled experts and the Secretary of the NTC as Member Secretary.
• In the case of State Administrative Tribunals, the Chief Secretary of the concerned State Government will replace the Secretary to the Government of India in the respective selection committee.
• The Committee Chairperson will have the casting vote, while the Member Secretary and expert members will not have voting rights.
• The selection committee will recommend one suitable candidate for each vacancy and one additional candidate for the waiting list, while previous service and performance will be considered in cases of reappointment.
• Recommendations will be communicated to the Central Government through the Secretariat within 3 days, and the Government is required to process the recommendation and make the appointment within 3 months.
• The Bill seeks to provide greater financial and administrative autonomy to tribunals by allowing them to identify requirements relating to funds, staff and premises, with the NTC evaluating overall requirements through an objective framework.
• The Central Government will continue to provide necessary grants following Parliamentary appropriation.
• The Comptroller and Auditor-General of India (CAG) will audit the accounts of the NTC, and the audit report will be forwarded to the Central Government for being laid before both Houses of Parliament.
• The Bill covers 16 tribunals, appellate tribunals and authorities, including the Customs, Excise and Service Tax Appellate Tribunal, Central Administrative Tribunal, State Administrative Tribunals, Railway Claims Tribunal, Securities Appellate Tribunal, Debts Recovery Tribunal, Debts Recovery Appellate Tribunal, Telecom Disputes Settlement and Appellate Tribunal, Appellate Tribunal for Electricity, Armed Forces Tribunal, National Green Tribunal, National Company Law Appellate Tribunal, National Consumer Disputes Redressal Commission, Industrial Tribunal and Income-tax Appellate Tribunal.

India to Host BRICS Information and Communication Technologies Track 2026 in Pune

• As part of India’s BRICS Chairship 2026, the Department of Telecommunications (DoT) will lead and organise the BRICS Information and Communication Technologies (ICT) Track in Pune from 17 to 21 August 2026.
• Theme: “Innovate, Cooperate and Transform (ICT) for a Resilient Future.”
• The five-day ICT Track will bring together Communications Ministers, senior government officials and ICT experts from BRICS member countries to strengthen cooperation in ICT and promote a secure, inclusive and resilient digital future.

Key Highlights

• BRICS comprises 11 countries — Brazil, China, Egypt, Ethiopia, India, Indonesia, Iran, Russia, Saudi Arabia, South Africa and United Arab Emirates (UAE).
• The 7th BRICS Working Group for Cooperation in Information and Communication Technologies (ICTs) will be held from 17 to 19 August 2026.
• The Working Group will focus on universal, meaningful, affordable, sustainable and resilient connectivity, trusted and secure digital environments, digital skills and capacity development, innovation and startups, Artificial Intelligence (AI), next-generation communications, Digital Public Infrastructure (DPI), cybersecurity, child online protection and digital ecosystem cooperation.
• The Digital BRICS Forum and Expo will be held on 20 August 2026 in Pune to discuss and showcase cooperation in emerging digital technologies and resilient ICT ecosystems.
• The Digital BRICS Forum will include discussions on Cybersecurity and Trustworthy ICTs, Child Online Protection, and Sustainable and Resilient Digital and ICT Ecosystems.
• The 12th BRICS Communications Ministers Meeting will be held on 21 August 2026, with Union Minister of Communications and Development of North Eastern Region Jyotiraditya M. Scindia representing India.
• The Communications Ministers will deliberate on Sustainable and Resilient ICT Ecosystems, Cybersecurity and Trustworthy ICT, Digital Skilling and Capacity Building, and Innovation, Startups and Entrepreneurship.
• The hosting of the ICT Track in Pune, Maharashtra, reflects India’s focus on strengthening international ICT cooperation, digital innovation, cybersecurity, digital skills and technology-led inclusive growth.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma
• Capital: Mumbai
• National Parks: Tadoba National Park, Gugamal National Park, Chandoli National Park, Navegaon National Park, Sanjay Gandhi National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Radhanagari Wildlife Sanctuary, Lonar Wildlife Sanctuary, Nagzira Wildlife Sanctuary, Phansad Wildlife Sanctuary, Tungareshwar Wildlife Sanctuary, Thane Creek Flamingo Wildlife Sanctuary

RECENT NEWS

• Maharashtra is going to open the first AI-powered bird sanctuary of India at Thane Creek Flamingo Sanctuary (TCFS). This will be a remarkable step towards merging artificial intelligence with wildlife conservation.

India Becomes World’s Leading Ship Recycling Nation in 2025

• India became the world’s leading ship recycling nation in 2025, with its global market share increasing from 30.1% in 2024 to 35.4% in 2025.
• India’s ship recycling volume increased from 86 million Gross Tonnes (GT) in 2024 to 2.99 million GT in 2025, registering nearly 60% growth.
• India achieved the Maritime India Vision (MIV) 2030 target of becoming the world’s leading ship recycling nation five years ahead of schedule.

Key Highlights

• The Alang-Sosiya ship recycling cluster in Gujarat accounts for approximately 98% of India’s ship recycling activity and has an annual recycling capacity of around 6 million GT.
• Ship Recycling Act, 2019, Ship Recycling Rules, 2021, and Ship Recycling Regulations, 2026 provide the regulatory framework for safe and environmentally sound ship recycling in India.
• The Directorate General of Shipping (DG Shipping) is the National Authority under the Ship Recycling Act, 2019.
• The Hong Kong International Convention for the Safe and Environmentally Sound Recycling of Ships (HKC) came into force on 26 June 2025.
• India provided ₹53.5 crore financial assistance for modernisation of ship recycling yards, helping 115 facilities achieve compliance with the Hong Kong Convention.
• 35 ship recycling yards at Alang, Gujarat, have applied for European Union (EU) green-listing, with the EU initiating the inspection process.
• Shree Ram Vessel Scrap and S. Investments have been included in the draft 16th European List of Ship Recycling Facilities.
• The Inventory of Hazardous Materials (IHM) helps identify and record hazardous substances present on ships before they enter authorised recycling facilities.
• The Ship-breaking Credit Note Scheme, under the Ship Building Financial Assistance Scheme (SBFA) 2.0, provides a credit note equivalent to 40% of the recycled ship’s scrap value, which can be used towards payment of up to 5% of the value of a new vessel built at an Indian shipyard.
• Ex-INS Viraat was recycled at Alang, Gujarat, after serving the Indian Navy for 30 years and the Royal Navy for 27 years.

India’s Three Sanchar Mitras Selected as International Telecommunication Union Generation Connect Youth Envoys (2026–2030)

• The Department of Telecommunications (DoT), Ministry of Communications, Government of India facilitated the selection of three Indian Sanchar Mitras (youth volunteers) as Generation Connect Youth Envoys (GCYE) of the International Telecommunication Union (ITU) for the 2026–2030
• The three Indian youth selected for the third cohort of ITU Generation Connect Youth Envoys are Ankit Kumar Pal from Delhi, Manish Kumar Mandal from Bengaluru and Susmita Sain from Guwahati.
• Their selection recognises their contributions under the Sanchar Mitra Scheme and reflects the growing role of Indian youth in shaping the global digital future.
• The announcement coincided with International Youth Day 2026, celebrated under the theme “Different Contexts, Common Aspirations”.

Key Highlights

• The Generation Connect Youth Envoys (GCYE) Programme provides young people opportunities to participate in national, regional and global discussions and initiatives related to Information and Communication Technologies (ICTs), digital transformation and inclusive digital development.
• The Sanchar Mitra Scheme of the Department of Telecommunications aligns with the Generation Connect programme by engaging youth in telecom and digital initiatives and providing exposure to national and international platforms, including the International Telecommunication Union (ITU).
• For the third cohort, the Department of Telecommunications invited and selected suitable candidates from among Sanchar Mitras based on their involvement in youth-led initiatives, digital inclusion, Information and Communication Technologies (ICT) education and skills, research and technical activities, entrepreneurship and innovation, and community-level ICT initiatives.
• The initiative strengthens India’s commitment to empowering Yuva Shakti as active contributors to digital transformation, technology, connectivity and inclusive digital development at the global level.
• Sanchar Mitra Scheme: The scheme aims to engage India’s youth as catalysts for digital empowerment and societal outreach, with selected students conducting awareness activities in communities, educational institutions and public spaces.
• Sanchar Mitras create awareness about citizen-centric telecom services, prevention of telecom frauds, mobile security, digital safety and responsible use of telecom services.
• The Sanchar Mitra Scheme is open to students from technical institutes offering programmes related to telecommunications, electronics, computers, cybersecurity and similar fields, provided the institutions participate in the scheme.
• The scheme has been implemented across all States and Union Territories (UTs) through the Licensed Service Area (LSA) field offices of the Department of Telecommunications.
• More than 200 institutions are currently participating in the Sanchar Mitra Scheme.

About Ministry of Communications:

• Cabinet Minister: Jyotiraditya M. Scindia
• Constituency: Madhya Pradesh
• Ministers of State (MoS): Chandra Sekhar Pemmasani

National Beekeeping and Honey Mission Boosts Scientific Beekeeping and Honey Production in India

• The Department of Agriculture and Farmers Welfare (DA&FW) is implementing the National Beekeeping and Honey Mission (NBHM) as a Central Sector Scheme through the National Bee Board (NBB).
• The main objectives of NBHM are to promote scientific beekeeping, ensure the holistic growth of the beekeeping industry, increase the production of honey and beehive products, generate income and employment, provide livelihood support to farm and non-farm households, promote women empowerment through beekeeping, strengthen beekeepers through an institutional framework based on a collective approach and enhance agricultural and horticultural production.

Key Highlights

• Under NBHM, project-based assistance is provided to eligible Implementing Agencies (IAs) through Central and State Nodal Agencies for various beekeeping-related activities.
• The scheme supports the establishment of Integrated Beekeeping Development Centres, honey testing laboratories, bee disease diagnostic laboratories and Quality Nucleus Stock Development Centres, along with capacity building, technology demonstration and women empowerment through beekeeping.
• NBHM also supports marketing, branding, value addition and Research and Development (R&D) in the beekeeping sector.
• NBHM supplements the efforts of State Governments, Implementing Agencies and stakeholder organisations to increase honey production, promote scientific beekeeping and enhance agricultural productivity through a project-based approach.
• So far, 7 world-class honey testing laboratories and 66 mini laboratories for checking adulteration have been established to strengthen honey quality testing.
• 83 honey processing units and 90 collection, branding and packaging units have been established to support efficient storage and marketing of honey and beehive products.
• 81 Quality Nucleus Stock Development Centres have been supported for the production of quality queen bees and colony multiplication.
• India’s honey production increased from 80,530 Metric Tonnes (MT) in 2014–15 to 1,51,690 MT in 2025–26, according to the Horticulture Crops Statistics, 2nd Advance Estimates 2025–26.

Gujarat to Set Up Four New Centres of Excellence for Horticulture Development

• The Gujarat Government has decided to establish 4 new Centres of Excellence (CoEs) to provide advanced training and guidance to farmers in horticulture.
• The 4 new Centres of Excellence will be established in Amreli, Dahod, Banaskantha and Gandhinagar districts with a total investment of ₹40 crore.
• The initiative aims to promote modern methods of horticultural crop cultivation to meet the growing demand for horticultural products.

Key Highlights

• The Centres of Excellence will organise training programmes and practical demonstrations on modern horticultural techniques for farmers.
• With the establishment of these 4 new centres, the total number of Centres of Excellence operationalised by the Horticulture Department in Gujarat will increase to 17.
• The centres will provide modern facilities including technology-based demonstrations for vegetable, fruit and spice crops, modern nurseries, crop nurseries, conservation farming demonstrations, training centres, micro-irrigation systems, water-harvesting structures, integrated pack houses and storage systems.
• Raghavji Patel, Gujarat’s Agriculture Minister, announced the decision and stated that the initiative will help farmers adopt modern horticultural practices.

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 e-Zero FIR system has been introduced by the Gujarat Government to facilitate cyber financial fraud complaints without the need for the victims to visit a police station. Honorable This system was launched on 27th July 2026, by Deputy Chief Minister Harsh Sanghavi in Gandhinagar, and it aims to enable quick investigations, enhance the possibility of to recovering the amount that was defrauded, and ease the reporting of cybercrime cases.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Tripura’s Dergang Farmer Producer Organisation Sends First Mustard Honey Shipment to Dubai, Opening Global Market Opportunities

• Tripura’s Dergang Farmer Producer Organisation (FPO) has exported 1 metric tonne of mustard honey to Dubai, marking the first-ever international shipment of mustard honey from the region.
• The export was facilitated by the Agricultural and Processed Food Products Export Development Authority (APEDA) under the Ministry of Commerce and Industry.
• The shipment marks a significant milestone for Dergang FPO and local beekeepers by creating opportunities to access international markets.
• The export is expected to provide local beekeepers and farmers with better access to international buyers and improved price-realisation opportunities.
• The initiative is expected to open new avenues for diversification of Tripura’s honey value chain and strengthen the state’s apiculture sector.
• The export is expected to encourage farmers and Farmer Producer Organisations (FPOs) to adopt organised production and export-oriented practices.
• The initiative will encourage greater focus on quality standards, value addition and export-quality honey production among farmers and FPOs.
• The collaboration between APEDA and Dergang FPO has enabled local producers to participate in the international agricultural export value chain.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Hindustan Aeronautics Limited Revives Su-30MKI Production Line at Nashik Facility for Indian Air Force

• Hindustan Aeronautics Limited (HAL) has revived the Su-30MKI fighter aircraft production line at its Nashik facility in Maharashtra for the Indian Air Force (IAF).
• HAL plans to manufacture 12 new Su-30MKI fighter aircraft, with deliveries scheduled up to 2029, and the first aircraft is expected in 2027–2028.
• The order for the 12 additional Su-30MKI aircraft was signed in December 2024 to replace Su-30MKI aircraft lost in accidents.
• The contract value has been reported at around ₹11,000 crore, while some reports have cited the value as ₹13,500 crore.
• The new Su-30MKI aircraft are expected to have around 50% to 62.6% indigenous content, strengthening India’s Make in India and Aatmanirbhar Bharat

Key Highlights :

• The Su-30MKI is a twin-engine, multirole fighter aircraft operated by the Indian Air Force and was developed under a licence-production arrangement with Russia.
• HAL has been involved in the assembly and production of Su-30MKI aircraft in India under the licence-production arrangement with Russia.
• HAL’s Nashik division had previously manufactured 222 Su-30MKI aircraft under licence from Russia.
• The Nashik production line was later paused, as the facility shifted its focus towards aircraft repair and maintenance activities and production of the Light Combat Aircraft (LCA) Tejas.
• The revival of the Nashik production line makes the facility an important centre for India’s military aviation manufacturing, having experience with both Russian-origin fighter aircraft and the indigenous Tejas LCA.
• HAL is also preparing a separate ₹60,000-crore modernisation programme for the existing Su-30MKI fleet of the Indian Air Force.
• The Su-30MKI modernisation programme is planned in two phases to enhance the aircraft’s operational capabilities.
• The first phase of the Su-30MKI upgrade is expected to include new avionics, an indigenous radar and electronic warfare systems.
• The second phase is planned to introduce advanced flight control systems to further improve the aircraft’s capabilities.
• Licence production in the defence sector allows an Indian manufacturer to produce an aircraft using foreign-origin design and technology under a formal agreement with the original country or manufacturer.
• Indigenous content in defence manufacturing refers to the proportion of components, systems and sub-assemblies produced within India.

About Hindustan Aeronautics Limited :

• Established : 1940
• Chairman & Managing Director : K. Sunil
• Headquarters : Bengaluru, Karnataka.
• HAL is an Indian public sector aerospace and defence company.

Pakistan Joins Lunar Exploration Race with “Jinnah-1” Rover for South Pole Mission

• Jinnah-1 is Pakistan’s first-ever planned lunar rover and has been named by the Space and Upper Atmosphere Research Commission (SUPARCO).
• Jinnah-1 is planned to launch in 2029 aboard China’s Chang’e-8 mission and will explore the Moon’s south polar region.
• SUPARCO is Pakistan’s national space agency, established in 1961, and it works in satellite development, space science and remote sensing.
• SUPARCO also represents Pakistan in civil space cooperation with other countries.
• The name Jinnah-1 honours Quaid-i-Azam Muhammad Ali Jinnah, who founded Pakistan in 1947.
• The name Jinnah-1 was selected through a nationwide public naming competition that received more than 4,000 proposals/submissions.
• Seven participants proposed the name “Jinnah-1”, and the final winner was selected through a lucky draw.
• Tayyab Karim, a 17-year-old from Bahawalnagar, won the naming competition by proposing Jinnah-1 and received a cash prize of Rs 100,000.
• According to the SUPARCO Chairman, the name Jinnah-1 pays tribute to Muhammad Jinnah and symbolises Pakistan’s resolve, progress and new space horizons.
• Chang’e-8 is a Chinese lunar mission under the broader Chang’e programme, which focuses on China’s robotic exploration of the Moon.
• The Chang’e-8 mission is associated with the International Lunar Research Station (ILRS), a China-led long-term lunar exploration framework.
• A Memorandum of Understanding (MoU) between SUPARCO and the China National Space Administration (CNSA) was signed in Beijing on 5 February 2025.
• The MoU covers Pakistan’s participation in the integration of the Jinnah-1 rover with the Chang’e-8 mission.
• SUPARCO announced its collaboration with China’s Chang’e-8 mission in 2024, describing it as a major milestone for Pakistan’s space programme.
• Jinnah-1 is reported to weigh approximately 35 kilograms and is designed to land near the Moon’s south pole.
• The rover will study the Moon’s surface geology and conduct experiments related to plasma and radiation, contributing to future lunar research.
• The Moon’s south polar region is an important target for lunar science because it contains permanently shadowed areas and has potential water-ice reserves.
• The lunar south pole is also significant because of its challenging terrain and potential geological and resource-related features.
• Jinnah-1 is linked with collaborative scientific payloads designed by Chinese and European scientists, highlighting international cooperation in lunar research.
• The mission will provide Pakistan with an opportunity to participate in international lunar scientific research and expand its space exploration capabilities.
• The planned 2029 Chang’e-8 mission will mark Pakistan’s first planned lunar mission involving a rover, with Jinnah-1 conducting scientific research near the Moon’s south pole.

About Pakistan :

• Capital: Islamabad
• Currency: Pakistani Rupee (PKR)
• President: Asif Ali Zardari
• Prime Minister: Shehbaz Sharif

Meta Launches Muse Glimmer, a 30-Billion-Parameter Open-Weight AI Model for Consumer Devices

• Meta has released Muse Glimmer, a new 30-billion-parameter open-weight AI model designed to perform advanced agentic tasks directly on consumer devices such as laptops and personal computers.
• Muse Glimmer differs from traditional AI models because it is designed not only to generate responses to prompts, but also to plan and execute multi-step tasks.
• The model can use developer-approved tools, verify the results of its actions, and recover from failed steps, making it suitable for agentic AI applications.
• Muse Glimmer is designed to operate within a 24–32 GB memory range, enabling it to run on certain consumer-grade computing devices.
• The model can operate on Apple Mac computers powered by M4 or M5 chips and systems equipped with Nvidia RTX 5090 graphics cards.
• The release is significant because open-weight AI models can be downloaded, customised and operated locally by users and developers.
• Local operation of open-weight models could potentially reduce dependence on expensive cloud-based AI services and provide greater flexibility for AI deployment.

Scientists Investigate Black Hole Stars as an Explanation for Little Red Dots

• Astronomers have proposed a new class of cosmic object called a “black hole star” (BH), according to a study published in
• The newly identified object, MoM-BH-1, was detected by the James Webb Space Telescope (JWST) during the Mirage or Miracle of MoM survey.
• MoM-BH-1 existed less than 660 million years after the Big Bang, making it an extremely distant object from the early universe.
• A black hole star is a proposed early-universe cosmic object consisting of a central black hole surrounded by a dense envelope of hydrogen and helium gas.
• Unlike ordinary stars, which generate energy mainly through nuclear fusion in their cores, a black hole star is proposed to be powered by its central black hole.
• MoM-BH-1 is described as the most distant black hole star identified so far.
• The object is approximately the size of the Solar System and contains a central black hole with a mass of about 100,000 times the mass of the Sun.
• MoM-BH-1 appears to exist without a surrounding galaxy, making it significant for understanding the formation of early cosmic structures.
• The discovery is connected with “Little Red Dots” (LRDs), which are compact, red and high-redshift objects observed in the early universe.
• MoM-BH-1 exhibits a deep Balmer break, which is a sharp decrease in brightness at particular wavelengths associated with hydrogen absorption.
• Observations indicate that MoM-BH-1 has an energy output approximately 100 billion times greater than that of any known star.
• A separate study published in The Astrophysical Journal on 10 June 2026 examined the Little Red Dot GLIMPSE-17775 and provided support for the black hole star model using detailed spectral data.
• On 16 March 2026, alternative explanations were proposed for some Little Red Dots, including models involving supermassive stars and forming globular clusters.

Leonardo DiCaprio and Jeff Bezos Launch $200 Million Phoenix Species Project to Save 100 Threatened Species

• Leonardo DiCaprio’s conservation organisation Re:wild and the Bezos Earth Fund, led by Jeff Bezos, have launched the Phoenix Species Project.
• The Phoenix Species Project has received a commitment of $200 million to support the recovery and conservation of 100 of the world’s most threatened species.
• The programme aims to strengthen existing local conservation efforts by providing long-term funding, rather than replacing ongoing conservation initiatives.
• The project will provide scientific and technical support to help conservation organisations improve the protection and recovery of threatened species.
• Major measures under the initiative include habitat protection, population monitoring and other conservation actions required to prevent critically endangered species from becoming extinct.
• The Phoenix Species Project covers a diverse range of threatened animals from different parts of the world, making it a global conservation initiative.
• The golden-crowned sifaka, a threatened species found in Madagascar, is among the animals selected for support under the project.
• The Malayan pangolin, found in Southeast Asia, has also been selected for conservation support.
• The Visayan warty pig of the Philippines is included among the threatened species targeted by the initiative.
• The pink land iguana of the Galápagos is another species selected for support under the Phoenix Species Project.
• The pancake tortoise, found in Tanzania, is included in the project’s conservation programme.
• Attenborough’s long-beaked echidna, found in New Guinea, is also among the threatened species selected for support.

CURRENT AFFAIRS : APPS & PORTALS

Employees’ Provident Fund Organisation to Launch E-PRAAPTI by August 2026 to Help Subscribers Access Old Provident Fund Accounts

• The Employees’ Provident Fund Organisation (EPFO) is expected to launch E-PRAAPTI by the end of August 2026 to help subscribers trace, link and claim money lying in old or inactive Provident Fund (PF) accounts.
• E-PRAAPTI stands for “EPF Aadhaar-Based Access Portal for Tracking Inoperative Accounts” and was announced by Union Labour and Employment Minister Mansukh Mandaviya in April 2026.
• The E-PRAAPTI platform is designed as a dedicated digital platform for the identification, tracking, UAN linking and activation of old EPF accounts.
• The platform is expected to use Aadhaar-based authentication to help members securely identify old PF accounts that are not linked to a Universal Account Number (UAN).
• Through E-PRAAPTI, members will be able to update their profile details, link old accounts with UAN, activate eligible accounts and access eligible PF funds with reduced paperwork.
• Aadhaar-based verification is expected to replace much of the existing manual process, thereby reducing paperwork and making PF claims faster and simpler.
• The portal will mainly benefit EPFO members who still have old Member Identification Numbers (MIDs) that were issued before the introduction of the UAN in October 2014.
• Member Identification Number (MID) was the unique PF account number used before the Universal Account Number (UAN) system was introduced.
• Eligible old PF accounts may be linked or merged with an existing UAN, while a new UAN may be generated where required.
• MIDs have been issued since the EPF Scheme came into force in 1952, making the E-PRAAPTI initiative particularly important for tracing older PF accounts.
• An EPF account becomes inoperative when no contributions are received for three consecutive years.
• Nearly 8 crore EPFO members currently contribute to their PF accounts every month through around 89 lakh establishments.

About EPFO:

• Under: Ministry of Labour & Employment, Government of India.
• Key Purpose: Manages Employees’ Provident Fund (EPF), Pension (EPS), and Insurance (EDLI) for salaried employees.
• CEO: Ramesh Krishnamurthi
• Headquarters: New Delhi

Daily CA One- Liner: August 16 & 17

• Prime Minister Narendra Modi addressed the nation from the Red Fort on 15 August 2026, marking India’s 80th Independence Day
• The Tribunals Reforms Bill, 2026 aims to make India’s tribunal system more independent, transparent, efficient and professionally administered, while reducing executive discretion and strengthening accountability
• As part of India’s BRICS Chairship 2026, the Department of Telecommunications (DoT) will lead and organise the BRICS Information and Communication Technologies (ICT) Track in Pune from 17 to 21 August 2026
• India became the world’s leading ship recycling nation in 2025, with its global market share increasing from 1% in 2024 to 35.4% in 2025
• The Department of Telecommunications (DoT), Ministry of Communications, Government of India facilitated the selection of three Indian Sanchar Mitras (youth volunteers) as Generation Connect Youth Envoys (GCYE) of the International Telecommunication Union (ITU) for the 2026–2030 period
• The Department of Agriculture and Farmers Welfare (DA&FW) is implementing the National Beekeeping and Honey Mission (NBHM) as a Central Sector Scheme through the National Bee Board
• The Gujarat Government has decided to establish 4 new Centres of Excellence (CoEs) to provide advanced training and guidance to farmers in horticulture
• The Reserve Bank of India (RBI) has proposed draft rules making external benchmark-linked loans optional for Non-Banking Financial Companies (NBFCs) while aiming to ensure fair and transparent interest-rate practices across regulated entities.
• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹59.20 lakh on IndusInd Bank, for non-compliance with RBI directions on Interest Rate on Deposits and Securitisation of Standard Assets.
• The Central Government’s debt-to-gross domestic product (GDP) ratio stood at 2% in FY26 (2025–26), which was 210 basis points higher than the government’s target of 56.1%.
• The Logistics Data Bank (LDB) has tracked 10 crore EXIM containers since its launch in 2016, marking a major milestone in India’s technology-driven logistics sector.
• The Insurance Regulatory and Development Authority of India (IRDAI) has prescribed a strict, time-bound Grievance Redressal Mechanism for resolving policyholder complaints.
• The National Bank for Agriculture and Rural Development (NABARD), with support from the Gates Foundation and Dalberg Advisors, announced the winners of the National Climate Stack Innovation Challenge.
• Special Rupee Vostro Account (SRVA) is an additional mechanism for settling international trade in Indian Rupees (INR) and is different from the normal Rupee Vostro Account (RVA) provided under the Foreign Exchange Management (Deposit) Regulations, 2016.
• Indian banks, including their overseas branches, are permitted to extend loans to non-residents or issue Standby Letters of Credit (SBLCs) in favour of overseas lenders against FCNR(B) deposits mobilised under the June 8, 2026 Circular on “Swap Facility for FCNR(B) Deposits”.
• Tripura’s Dergang Farmer Producer Organisation (FPO) has exported 1 metric tonne of mustard honey to Dubai, marking the first-ever international shipment of mustard honey from the region.
• Hindustan Aeronautics Limited (HAL) has revived the Su-30MKI fighter aircraft production line at its Nashik facility in Maharashtra for the Indian Air Force (IAF).
• Jinnah-1 is Pakistan’s first-ever planned lunar rover and has been named by the Space and Upper Atmosphere Research Commission (SUPARCO).
• Meta has released Muse Glimmer, a new 30-billion-parameter open-weight AI model designed to perform advanced agentic tasks directly on consumer devices such as laptops and personal computers.
• Astronomers have proposed a new class of cosmic object called a “black hole star” (BH), according to a study published in
• Leonardo DiCaprio’s conservation organisation Re:wild and the Bezos Earth Fund, led by Jeff Bezos, have launched the Phoenix Species Project.
• The Employees’ Provident Fund Organisation (EPFO) is expected to launch E-PRAAPTI by the end of August 2026 to help subscribers trace, link and claim money lying in old or inactive Provident Fund (PF) accounts.