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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Income Tax Department Introduces Foreign Assets Disclosure Scheme to Promote Voluntary Disclosure

• The Central Board of Direct Taxes (CBDT) has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS) Rules, 2026, providing eligible taxpayers with a one-time opportunity to voluntarily disclose certain previously undisclosed foreign assets and income.
• The FAST-DS was announced in the Union Budget 2026–27 and came into effect from 16 August 2026.
• The scheme is aimed at eligible small taxpayers, including students, young professionals, technology employees and relocated Non-Resident Indians (NRIs) who may have failed to disclose eligible foreign assets or income.
• Under FAST-DS, eligible taxpayers can voluntarily disclose certain undisclosed foreign assets, undisclosed foreign income or undeclared foreign assets by paying the prescribed tax or fee.
• Taxpayers have to pay 30% tax on the value of the declared undisclosed foreign asset or income, along with an additional amount equal to the tax, taking the effective total levy to 60%.
• The last date for filing FAST-DS declarations is 31 December 2026, and no declaration can be filed under the scheme after this deadline.
• The Fair Market Value (FMV) of the foreign assets for the purpose of the scheme will be determined as of 31 March 2026.
• FAST-DS provides for two categories of declarations based on whether the foreign asset or income had previously been offered to tax and whether the asset was reported in the relevant tax-return schedule.
• For undisclosed foreign assets or foreign income not previously offered to tax, the aggregate value must not exceed ₹1 crore to qualify under the first category.
• The second category covers foreign assets already offered to tax or assets acquired when the taxpayer was a non-resident but not reported in the relevant income-tax return schedule.
• Under the second category, the value threshold for such declarations is ₹5 crore, along with a ₹1 lakh fee.
• Taxpayers can submit FAST-DS declarations through the prescribed online mechanism.
• For example, if an undisclosed foreign bank account is valued at ₹60 lakh and undisclosed foreign income is ₹20 lakh, the total tax payable under the scheme would be ₹48 lakh.
• Taxpayers making valid declarations under FAST-DS will receive immunity from further tax, penalty and prosecution under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015, in respect of the disclosed assets or income.
• The declared income or the amount invested in the disclosed asset will not be included in the taxpayer’s total income under the Income-tax Act, 1961 or the Black Money Act, subject to the scheme’s conditions.

Wholesale Price Index Inflation Moderates to 9.78% in July as Food, Fuel and Power Prices Decline

• Wholesale Price Index (WPI)-based inflation in India eased marginally to 9.78% in July 2026, compared with 9.87% in June 2026, mainly due to cooling prices of fuel, power and food items.
• This was the first month-on-month decline in WPI inflation under the government’s WPI-based inflation data using the new 2022-23 base year.
• WPI inflation had remained on an upward trajectory since the beginning of FY 2026-27, mainly due to the West Asia war and the resultant blockade of the Strait of Hormuz.
• The Strait of Hormuz is an important route for India’s crude oil imports, and its blockade pushed up global crude oil and fertiliser costs, with a spillover effect on food prices.
• According to the Ministry of Commerce and Industry, major drivers of WPI inflation in July 2026 included mineral oils (petroleum products), food articles, manufactured basic metals, non-food articles, manufactured food products, and chemicals and chemical products.
• Fuel and Power inflation declined significantly to 20.05% in July 2026, from 27.41% in June 2026.
• Food Articles inflation also eased to 5.44% in July 2026, compared with 5.49% in June 2026.
• In contrast, Manufactured Products inflation increased to 8.29% in July 2026, from 7.48% in June 2026.
• India’s retail inflation (CPI-based inflation) increased to 4.45% in July 2026, from 4.38% in June 2026, mainly due to higher food prices.

Qatar-India Postal Remittance Service Using Unified Payments Interface Launched in Doha

• The Qatar-India Postal Remittance Service, based on PosTransfer powered by Unified Payments Interface (UPI), was operationalised in Doha, Qatar, enabling faster, secure and cost-effective cross-border remittances between Qatar and India.
• The service was made available on 15 August 2026, coinciding with India’s Independence Day.
• The service was developed through a partnership among Qatar Post, Department of Posts (DoP), Ministry of Communications, Universal Postal Union’s Interconnection Platform (UPU-IP), and NPCI International Payments Limited (NIPL).
• PosTransfer powered by UPI integrates the UPU-IP with India’s UPI ecosystem to enable international inward remittances directly into UPI-enabled bank accounts in India.
• Customers in Qatar can initiate remittances at Qatar Post outlets by providing the recipient’s UPI ID along with the required customer identification details.
• The recipient in India must first activate the facility for receiving international inward remittances through their UPI app.
• Once the facility is activated, the remitted amount is credited instantly to the beneficiary’s UPI-linked bank account.
• The transaction amount can range from QAR 10 to QAR 4,000, subject to a maximum equivalent of ₹1,00,000 per transaction.
• A flat service charge of QAR 15 per transaction is applicable under the new remittance service.
• E. Sandeep Kumar, Chargé d’Affaires, Embassy of India in Qatar, visited the Qatar Post outlet at LuLu Mall, Doha, on the occasion of the service launch and interacted with stakeholders.
• The initiative is particularly important for the large Indian community in Qatar, as it provides a trusted, accessible and affordable channel to send money to families in India.
• The service combines the extensive reach of postal networks with India’s Digital Public Infrastructure (DPI), strengthening financial inclusion and digital financial connectivity.
• The integration of UPU-IP with UPI demonstrates the potential of postal networks and Digital Public Infrastructure to provide inclusive, interoperable and efficient cross-border financial services.
• The Qatar-India remittance corridor marks an important step in the modernisation of international postal financial services and strengthens digital financial cooperation between India and Qatar.
• PosTransfer powered by UPI provides participating postal operators with a simple and secure mechanism for sending international remittances to UPI-enabled bank accounts in India.
• India Post is also working with postal operators in other countries to operationalise additional PosTransfer powered by UPI corridors, which will further strengthen international financial connectivity for the Indian diaspora.

Bombay Stock Exchange and PHD Chamber of Commerce and Industry Partner to Boost Micro, Small and Medium Enterprises Access to Capital Markets

• BSE Limited, formerly known as the Bombay Stock Exchange, and the PHD Chamber of Commerce and Industry (PHDCCI) signed a Memorandum of Understanding (MoU) to improve Micro, Small and Medium Enterprises (MSMEs)’ access to equity financing through capital markets.
• The partnership aims to create greater awareness among MSMEs about Initial Public Offerings (IPOs), SME listing procedures, and the benefits of becoming publicly listed companies.
• The MoU was signed in New Delhi, Delhi, by Sundararaman Ramamurthy, MD & CEO of BSE Limited, and Ranjeet Mehta, CEO & Secretary General of PHDCCI.
• The collaboration will increase awareness of equity financing, particularly through the BSE SME Platform, and help eligible businesses understand and navigate the SME listing process.
• Under the partnership, MSMEs will receive expert guidance, mentorship, knowledge-sharing, and capacity-building support to assess opportunities and requirements for raising capital through capital markets.
• The initiative is expected to help eligible MSMEs better understand the requirements and opportunities associated with raising funds through equity markets.

About BSE Limited :

• Established : 1875 and is recognised as Asia’s oldest stock exchange.
• BSE Limited is headquartered in Mumbai, Maharashtra, and its benchmark stock market index is the Sensex.

Retail Inflation Climbs to 19-Month High of 4.45% in July 2026 on Higher Food and Fuel Prices

• India’s retail inflation (CPI-based inflation) rose to a 19-month high of 4.45% in July 2026, driven mainly by higher food and fuel prices.
• The Consumer Price Index (CPI) data was released by the Ministry of Statistics and Programme Implementation (MoSPI).
• In July 2026, food, restaurant and accommodation services, and transport became costlier, while inflation in healthcare, recreation, sports and culture eased marginally.
• The CPI series was updated earlier in 2026 with a new base year of 2024.
• Under the revised CPI series, historical data for the overall index is available from August 2021, while sector-wise data is available only from January 2026 onwards.
• Inflation in the Food and Beverages category increased to 5.2% in July 2026, from 5.05% in June 2026.
• Inflation in the Restaurants and Accommodation Services segment rose to 7.7% in July 2026, from 6.9% in June 2026, making it the highest level recorded in 2026 so far.
• Inflation in the Transport sector increased marginally to 4% in July 2026, compared with 4.3% in June 2026.
• Inflation in the Health segment eased to 3% in July 2026, from 1.4% in June 2026, continuing its declining trend since February 2026.
• Inflation in the Recreation, Sport and Culture category declined to 6% in July 2026, from 1.75% in June 2026.
• Inflation in the Personal Care, Social Protection and Miscellaneous Goods & Services category remained in double digits at 14.8% in July 2026, although it was the lowest level recorded so far in 2026.

YES Bank Introduces ‘YES Essence’ Credit Card Tailored for Women

• YES Bank Limited launched the ‘YES Essence Credit Card’, a women-focused lifestyle and rewards credit card designed to address the evolving lifestyle and healthcare needs of women.
• The card primarily targets young professionals, salaried customers and digitally savvy women.
• Customers aged between 21 and 60 years are eligible for the card, subject to a minimum net monthly salary of ₹30,000.
• Customers who already hold any YES Bank Credit Card are not eligible to avail the benefits of the new YES Essence Credit Card.
• The card provides accelerated rewards on spending categories such as dining, groceries, shopping, beauty and travel.
• Key lifestyle and health benefits include an annual preventive health check-up, birthday vouchers, Buy-One-Get-One (BOGO) movie tickets, and complimentary coffee at select mall outlets.
• The YES Essence Credit Card combines rewards, lifestyle privileges and healthcare benefits to cater to the specific needs of its target customers.

About YES Bank Limited :

• YES Bank Limited was incorporated on 21 November 2003 and commenced its banking operations in 2004.
• YES Bank is one of India’s leading private sector commercial banks and is headquartered in Mumbai, Maharashtra.

India Reduces Windfall Tax on Petrol Exports to Nil

• The Ministry of Finance reduced India’s windfall gains tax on exports of petrol, diesel and Aviation Turbine Fuel (ATF).
• The windfall gains tax on selected petroleum exports is officially known as Special Additional Excise Duty (SAED).
• SAED is an export duty imposed on selected petroleum products when international prices and refinery margins generate extraordinary gains for producers.
• India follows fortnightly revisions for these petroleum export duties, with rates linked to changes in global crude oil and fuel prices.
• With effect from 15 August 2026, the SAED on petrol exports was reduced to nil (₹0 per litre) from ₹3.5 per litre.
• The SAED on diesel exports was reduced to ₹24 per litre from ₹25.5 per litre.
• The SAED on ATF exports was reduced to ₹19.5 per litre from ₹22 per litre.
• The latest reduction partially reversed the sharp increase announced on 3 August 2026, when the SAED was raised to ₹3.5 per litre for petrol, ₹25.5 per litre for diesel and ₹22 per litre for ATF.
• The government clarified that domestic excise duties on petrol and diesel for local consumption remained unchanged despite the reduction in export duties.
• Excise duty is a central tax levied on the manufacture of goods, while petroleum products can have separate duty structures for domestic consumption and exports.
• India first introduced windfall taxes on petroleum exports in July 2022 to capture extraordinary gains arising from favourable international market conditions.
• The windfall levies were briefly removed in 2024 and were reintroduced in March 2026 following a rise in oil prices associated with the West Asia conflict.
• Windfall taxes are imposed on extraordinary profits generated by sudden price movements or market disruptions, particularly in sectors such as energy.
• India periodically revises windfall duties to align them with developments in international energy markets, especially changes in crude oil and petroleum product prices.
• Petroleum taxation in India includes Central Excise Duty, Customs Duty and special export levies, with export duties and domestic excise duties functioning as separate fiscal instruments under the Union Government’s taxation framework.

Securities and Exchange Board of India Chairman Tuhin Kanta Pandey Launches Two New Portals to Strengthen Securities Market Cybersecurity

• Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), launched two new cybersecurity portals, ‘SEBI Incident Reporting’ and ‘Cyber Suraksha’, to strengthen cybersecurity, cyber resilience and information sharing across the securities market ecosystem.
• The two portals were launched during the inaugural ceremony of SEBI’s Symposium on Cyber Defence, held from 17 to 21 August 2026 in Mumbai, Maharashtra.
• The SEBI Incident Reporting Portal is a revamped portal designed to make cyber-incident reporting more structured, timely and actionable for market intermediaries.
• The SEBI Incident Reporting Portal is aligned with the Financial Stability Board (FSB)’s Format for Incident Reporting Exchange (FIRE) to promote greater consistency in incident reporting.
• Alignment with the FSB FIRE format is expected to facilitate smoother cross-border cybersecurity incident reporting and reduce communication-related friction.
• The Cyber Suraksha Portal will function as a central hub for cybersecurity information sharing across the securities market ecosystem.
• The Cyber Suraksha Portal will facilitate the exchange of cybersecurity knowledge, vulnerability warnings, policy measures and insights from cyber incidents among market stakeholders.
• The new initiatives are aimed at enhancing the overall cyber resilience of India’s securities market and improving communication between SEBI and market intermediaries during cybersecurity incidents.
• SEBI is also preparing for emerging cybersecurity threats arising from quantum computing, which could pose new risks to existing cryptographic systems.
• Quantum resilience has been identified as a core pillar of SEBI’s cybersecurity strategy, highlighting the need to prepare the securities market for future technological threats.
• Post-quantum cryptography (PQC) needs to be treated as a migration programme rather than merely a future research concern, according to SEBI Chairman Tuhin Kanta Pandey.
• Tuhin Kanta Pandey also inaugurated the RegTech Lab at the National Institute of Securities Markets (NISM), Patalganga campus, in Mumbai, Maharashtra.
• The NISM RegTech Lab aims to promote technology-enabled and practical learning in regulatory compliance and securities-market regulation.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Karnataka Launches Vidyarthi Sahayahasta Scheme for Rural Students

• Karnataka Chief Minister D. K. Shivakumar announced the Vidyarthi Sahayahasta Scheme during the Independence Day celebrations in Bengaluru to improve access to professional education for students from rural government schools.
• Under the scheme, 7.5% reservation will be provided within the existing 15% rural reservation for admission to professional courses.

Key Highlights

• The scheme will benefit students who have studied from Class 1 to Class 10 in rural government schools.
• The provision is aimed at helping eligible rural students secure admission to professional programmes, including medical and engineering courses, by reducing educational and geographical barriers.
• The initiative is intended to create a more level playing field for rural students and improve their access to higher and professional education.
• The Karnataka Government has stated that detailed guidelines regarding the admission process, eligibility verification and implementation timeline will be issued by the Education Department.
• The announcement forms part of Karnataka’s broader efforts to expand opportunities for young people, including initiatives related to Artificial Intelligence education from Class 6 and free Coding Gurukul classes.

About Karnataka:

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

RECENT NEWS

• The Karnataka Krushi Aranya Protsaha Yojane is a government initiative from Karnataka that aims to promote the practice of agroforestry among farmers whereby farmers cultivate seedlings and grow trees. The scheme has been initiated by the Karnataka Forest Department and it provides incentives to farmers for maintaining healthy forests for up to three years. 

Research Society for the Study of Diabetes in India Launches Rural Diabetes Outreach Initiatives

• The Research Society for the Study of Diabetes in India launched the Diabetes Rural Outreach Digital Portal and VISHWAS (Diabetes Awareness Video Library) to strengthen diabetes prevention and management in rural India.
• Jitendra Singh, Union Minister of State (Independent Charge) for Science and Technology and Earth Sciences, called for making preventive healthcare and diabetes prevention a national priority.

Key Highlights

• The Research Society for the Study of Diabetes in India Rural Outreach Programme focuses on diabetes awareness, screening, treatment, prevention and long-term follow-up in rural communities.
• The programme has already covered around 30 villages across several States, with plans for further expansion.
• The Diabetes Rural Outreach Digital Portal will support beneficiary registration, treatment documentation, longitudinal follow-up, programme monitoring and generation of anonymised real-world data.
• The initiative aims to combine community participation, digital technology and scientific data to develop evidence-based approaches for diabetes and other non-communicable diseases.
• VISHWAS (Diabetes Awareness Video Library) will provide digital resources to improve diabetes awareness and healthcare knowledge among communities.
• The programme demonstrates the convergence of medical sciences, engineering, technology, digital health and community-based healthcare.

About RSSDI :

• RSSDI was founded in 1972 and is recognised as Asia’s largest professional medical organisation for diabetes researchers and healthcare providers.
• The headquarters of RSSDI is located in Jaipur, Rajasthan.

Maharashtra Declares Snakebite a Notifiable Disease

• The Maharashtra Government has declared snakebite a notifiable disease, making it mandatory for all hospitals, medical colleges and healthcare professionals to report every suspected or confirmed snakebite case and death.
• The decision was announced by Maharashtra Health Minister Prakash Abitkar to strengthen snakebite surveillance, timely treatment, prevention and Anti-Snake Venom (ASV) management.

Key Highlights

• Under the notification, snakebite cases must be reported to the concerned District Health Officer or District Surgeon.
• Serious and fatal cases must be reported immediately through available communication systems.
• Cases will be recorded through the Health Management Information System (HMIS), Integrated Disease Surveillance Programme (IDSP) or other government-approved reporting systems.
• A state-to-district nodal mechanism has been established for snakebite prevention and control, with the Director of Hospitals overseeing it at the state level.
• Healthcare institutions must maintain records of Anti-Snake Venom (ASV) received, consumed and available in stock to ensure adequate supplies in high-incidence areas.
• Patient records will include details such as date and location of bite, age, gender, symptoms, treatment, number of ASV vials administered, referral and treatment outcome.
• The Government will analyse the location, season and circumstances of snakebite incidents to formulate localised preventive measures.
• District health authorities will conduct awareness programmes on prevention, first aid, immediate reporting, timely referral and proper treatment.
• The decision followed the deaths of three tribal schoolgirls and hospitalisation of three others after a venomous snakebite at a government-aided residential school in Japtalai village, Gadchiroli district, on 9 August 2026.
• The Maharashtra Government has also been considering a regional snake venom collection bank to strengthen the availability of anti-venom.
• The Health Minister stressed the importance of treatment during the “golden hour” — the first 60 minutes after snakebite.
• Anti-Snake Venom (ASV) is used to neutralise the effects of snake venom and is an essential treatment for venomous snakebite.

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 has launched the Bharat Taxi, a cooperative taxi service which caters to both passengers and drivers. This project was inaugurated at the Navi Mumbai International Airport on July 23rd, 2026, by Honorable Chief Minister of Maharashtra Devendra Fadnavis, alongside with the Murlidhar Mohol, Union Minister of State for Cooperation. 

SEMICON India 2026: India’s Semiconductor Ecosystem and Global Technology Hub

• SEMICON India 2026, the 5th edition of India’s flagship semiconductor conference and exhibition, will be held from 17–19 September 2026 at Yashobhoomi (India International Convention and Expo Centre), Dwarka, New Delhi.
• Prime Minister Narendra Modi will inaugurate SEMICON India 2026 on 17 September 2026.
• The event is jointly organised by the India Semiconductor Mission (ISM), Ministry of Electronics and Information Technology (MeitY) and Semiconductor Equipment and Materials International (SEMI).
• Theme: “Silicon to Systems: Building the Ecosystem.”
• SEMICON India 2026 will bring together government leaders, semiconductor companies, investors, industry experts, academia, start-ups and students to strengthen collaboration, innovation, manufacturing and investment in the semiconductor sector.
• The event will focus on semiconductor manufacturing, chip design, Artificial Intelligence (AI), digital transformation, supply chains, chemicals, gases and materials, government programmes, sustainability, product creation, start-ups, innovation, talent and skill development.
• The conference will include 6 international country roundtables, a dedicated session on Women Empowerment and Leadership, a Workforce Development Session and a special session on Electronic System Design and Manufacturing (ESDM) growth.

Key Highlights

• India’s semiconductor ecosystem is being developed under the Semicon India Programme, implemented through the India Semiconductor Mission (ISM).
• Under Semicon 1.0, 12 semiconductor projects have been approved to establish a robust and resilient semiconductor ecosystem in India.
• These projects cover semiconductor fabrication, compound semiconductor manufacturing, display fabrication and advanced packaging.
• 3 of the 12 approved semiconductor projects have commenced commercial production, marking an important transition from policy support to actual semiconductor manufacturing in India.
• The Union Cabinet has approved Semicon 2.0 as the next phase of India’s semiconductor programme to accelerate the development of a strong and resilient semiconductor ecosystem.
• Semicon 2.0 has six major pillars: chip design; semiconductor equipment and materials; fabrication facilities; advanced packaging; research and development; and talent development.
• The semiconductor ecosystem is expected to support critical sectors including automobiles, telecommunications, aerospace, power electronics and consumer electronics.
• Semiconductor fabrication plants convert raw silicon wafers into functioning integrated circuits and microchips.
• Display fabrication plants manufacture flat and flexible displays used in smartphones, automobiles and other electronic devices.
• Advanced packaging involves protecting, connecting and integrating semiconductor chips so that they can deliver improved performance, reliability and efficiency.
• India is also strengthening its indigenous semiconductor design and innovation capabilities.
• Under the Chips to Start-up (C2S) Programme, Electronic Design Automation (EDA) tools have been deployed in 320 academic institutions, with more than 68,000 students trained.
• Electronic Design Automation (EDA) tools are specialised software platforms used to design, simulate, verify and optimise semiconductor chips before manufacturing.
• The Government has provided advanced design tools to more than 332 academic institutions and 105 start-ups.
• 24 semiconductor design projects have been approved for financial support under the Design Linked Incentive (DLI) Scheme.
• 105 start-ups and Micro, Small and Medium Enterprises (MSMEs) have also received support for Electronic Design Automation tools under the Design Linked Incentive ecosystem.
• By April 2026, 211 chips had been taped out by 75 institutions, demonstrating the growth of India's domestic chip-design capabilities.
• 7 chips have been successfully fabricated at different technology nodes, including an advanced 12 nanometre (nm) node.
• Semicon 2.0 will further support semiconductor Intellectual Property (IP), chip design and system design, strengthening India's position as a global semiconductor design hub.
• SEMICON India 2026 is expected to have 500+ exhibitors, representing the global semiconductor and electronics ecosystem.
• The event will feature 6 country pavilions and 10 State Government pavilions.
• Other major attractions include a Startup Pavilion, Innovation Showcase, Startup Pitch Competition, Student Hackathon and Workforce Development Pavilion.
• Major global semiconductor companies participating include ASML, Applied Materials, Teradyne, Infineon, Ebara, Jabil, International Business Machines (IBM) Research, NXP, Tata Electronics, Micron, Merck KGaA, Rapidus, Lam Research, CG Power, Advantest and Tokyo Electron, among others.
• The Semiconductor Equipment and Materials International (SEMI) has supported the development of semiconductor hubs globally for more than five decades.
• SEMICON India 2026 aims to integrate Indian companies more deeply into the global semiconductor supply chain.
• The event will showcase the “Sand to Silicon to Systems” value chain, highlighting India’s progress across the semiconductor ecosystem.
• India’s semiconductor requirement is expected to grow from around $100 billion to $200 billion, while global semiconductor demand is expected to increase from approximately $1 trillion to $2 trillion.
• The growth in semiconductor demand is being driven by Artificial Intelligence, automobiles, telecommunications, electronics, high-performance computing and other emerging technologies.
• India’s semiconductor initiatives are aligned with the vision of Atmanirbhar Bharat and aim to make India a trusted global hub for semiconductor and electronics manufacturing.

Tamil Nadu to Extend Maternity Leave to 365 Days for Women Government Employees Having a Third Child

• The Tamil Nadu Government has announced that maternity leave for women government employees having their third child will be increased from 12 weeks to 365 days (one year).
• The announcement was made by D. Sarathkumar, Minister for Human Resources Management, in the Tamil Nadu Legislative Assembly during the demand for grants for his department.

Key Highlights

• Currently, women government employees with less than two surviving children are eligible for 365 days of maternity leave, while those with two or more surviving children receive 12 weeks of maternity leave with full pay.
• The proposed change will extend the 365-day maternity leave benefit to eligible women employees having their third child.
• A detailed Government Order (GO) is expected to be issued to formally implement the revised provision.
• Tamil Nadu maternity leave timeline:
• 2011: Maternity leave increased from 90 days to 6 months.
• 2016: Leave further increased to 9 months.
• July 2021: Maternity leave extended to 365 days (1 year) for eligible women government employees.
• The existing 12-week maternity leave for women with two or more surviving children is based on Supreme Court directives and subsequent amendments to state service rules.
• The move is aimed at promoting women’s welfare, social welfare and women’s empowerment among Tamil Nadu government employees.

About Tamil Nadu:

• Chief Minister: Joseph Vijay
• Governor: Rajendra Vishwanath Arlekar (Additional Charge)
• Capital: Chennai
• National Parks: Guindy National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Mudumalai National Park, Mukurthi National Park, Palani Hills National Park
• Wildlife Sanctuaries: Mudumalai Wildlife Sanctuary, Kalakad Wildlife Sanctuary, Point Calimere Wildlife Sanctuary, Vedanthangal Bird Sanctuary, Sathyamangalam Wildlife Sanctuary, Srivilliputhur Grizzled Squirrel Wildlife Sanctuary, Pulicat Lake Wildlife Sanctuary, Megamalai Wildlife Sanctuary

RECENT NEWS

• A Tamil Nadu farmer who emerged as the inspiring example of how the sustainable agriculture can improve the livelihoods while restoring the environment. Valluval is a 58 uear old farmer from Pollachi district and he transformed his loss making coconut farm into the profitable multi-crop enterprise and earned the recognition as a UN FAO Soil Farmer Hero recognition.

CURRENT AFFAIRS: AWARDS AND HONOURS

Prime Minister Internship Scheme Industry Awards 2026

• The Ministry of Corporate Affairs organised the Prime Minister Internship Scheme Industry Awards 2026 in New Delhi to recognise industry partners for their contribution to the successful implementation of the Prime Minister Internship Scheme during its pilot phase.
• Mahindra & Mahindra Limited was recognised as the Overall Industry Champion for its outstanding contribution to internships and youth engagement under the Prime Minister Internship Scheme.

Key Highlights

• Top Public Sector Undertaking Partners: Oil and Natural Gas Corporation Limited, NTPC Limited and Western Coalfields Limited.
• Top Private Partners: Reliance Industries Limited, Infosys Limited and Dr. Reddy's Laboratories Limited.
• Pre-Internship Excellence Award: HDFC Bank Limited.
• Internship Management Excellence Award: Shriram Finance Limited.
• Innovation in Programme Implementation Award: IBM India Private Limited.
• Innovation in Exit Pathways Award: Power Grid Corporation of India Limited.
• Sectoral Champions: Metals and Mining — Central Coalfields Limited; Fast-Moving Consumer Goods — ITC Limited; Agriculture and Allied — DCM Shriram Limited; Healthcare — Dr. Lal PathLabs Limited; Pharmaceutical — Dr. Reddy's Laboratories Limited and Emcure Pharmaceuticals Limited.
• Banking and Financial Services: National Stock Exchange of India Limited; Oil, Gas and Energy — Oil and Natural Gas Corporation Limited and Oil India Limited; Information Technology and Software Development — Tech Mahindra Limited.
• Infrastructure and Construction: Larsen & Toubro Limited; Automotive — Mahindra & Mahindra Limited; Diversified Conglomerates — Reliance Industries Limited; Retail and Consumer Durables — Tata Consumer Products Limited.
• The Prime Minister Internship Scheme aims to provide paid internship opportunities in leading Indian companies and enhance youth employability through practical workplace exposure, industry experience, skilling, reskilling and upskilling.
• The awards recognised organisations for creating quality internship opportunities, effective internship management, youth engagement and development of a future-ready workforce.

Lakshmanan Meyyappan Becomes World’s Youngest Male Chartered Accountant at 16

• Lakshmanan Meyyappan, a 16-year-old Indian, has been recognised by Guinness World Records as the world’s youngest male Chartered Accountant (CA).
• He achieved the record at the age of 16 years and 141 days in Dubai, United Arab Emirates (UAE).
• Meyyappan began pursuing the Association of Chartered Certified Accountants (ACCA) qualification at the age of 15 and completed it in approximately one year.

Key Highlights

• His interest in accounting developed during the COVID-19 pandemic, following his Class 10 board examinations.
• He subsequently earned the Chartered Financial Analyst (CFA) charter and is currently pursuing a Master of Science (MSc) in Finance.
• He is working as a Senior Research Analyst at Century Financial in Dubai, where his responsibilities include investment research, financial analysis and decision-making.
• His achievement highlights the growing opportunities for young students in professional accounting, finance and investment careers.
• Exam Point: Lakshmanan Meyyappan → World’s youngest male Chartered Accountant → 16 years 141 days → Dubai → Guinness World Record (2026).
• Static GK: ACCA stands for Association of Chartered Certified Accountants, while CFA stands for Chartered Financial Analyst.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Hakainde Hichilema Wins Second Consecutive Term as Zambia’s President

• Hakainde Hichilema, leader of the United Party for National Development (UPND), was re-elected as the President of Zambia for a second consecutive five-year term (2026–2031).
• The Zambian general elections were held on 13 August 2026.
• Hakainde Hichilema secured 2,965,326 votes, receiving approximately 4% of the vote share.
• He defeated the main opposition challenger Brian Mundubile, who secured 1,856,217 votes, equivalent to approximately 4% of the vote share.
• Nearly 5 million votes were cast in the election.
• Under Zambia’s presidential election system, a candidate must secure more than 50% + 1 of the valid votes to win outright and avoid a second-round run-off.

About Zambia :

• Capital : Lusaka
• Currency : Zambian kwacha

Gautam Rangarajan, Former Indian Diplomat’s Son and BBC Executive, Named Adviser to UK Prime Minister

• Gautam Rangarajan, an Indian-origin strategist and media executive, has been appointed Expert Adviser on Structure and Process by British Prime Minister Andy Burnham at 10 Downing Street.
• The appointment was announced by Downing Street, and Rangarajan will advise on the restructuring of the UK Government’s structure and processes.

About Gautam Rangarajan :

• Rangarajan brings more than three decades of experience at the BBC, particularly in corporate strategy, transformation and performance management.
• He served as Group Director of Strategy and Performance at the BBC from 2013 to April 2025, where he was responsible for the pan-BBC strategy for around a decade.
• Earlier, he served as Head of Strategy and Policy (2005–2009) and Controller, BBC Corporate Strategy (2009–2013), where he led corporate strategy and was involved in the 2010 licence fee settlement.
• Rangarajan began his BBC career in 1993 as a trainee producer with BBC Radio Classical Music and later worked across BBC Wales and BBC Radio.
• From 1995 to 2001, he worked as a producer in arts, music and features at BBC Wales, contributing to programmes such as The Night of the October Revolution, Opera in Action and Artist of the Week.
• Between 2001 and 2003, Rangarajan served as an Executive Producer, leading the Radio Music Department for BBC Wales and BBC Radio and producing programmes for BBC Radios 1, 2, 3 and 4.
• As Group Director of Strategy and Performance, Rangarajan was responsible for the BBC’s overall corporate strategy, including its digital transformation.
• After leaving the BBC in 2025, he worked as a freelance consultant and became a Board Trustee at Glyndebourne in January 2025.
• He also completed the FT Board Director Programme and received the Non-Executive Director Diploma in 2025.
• He has also worked as a recording producer, including on the 2012 CD “A Festival of Psalms”.
• Gautam Rangarajan’s late father, N. Rangarajan, was a senior Indian diplomat who served as India’s Ambassador to Norway, Greece, Sudan, Tunisia and Iceland.
• N. Rangarajan, who had roots in Kumbakonam, also authored books, including a translation of Kautilya’s Arthashastra.
• Andy Burnham, who previously served as the Mayor of Greater Manchester, has proposed a major restructuring of the UK Government, including shifting political power away from London and Whitehall towards the regions.
• Burnham has also launched a government hub office called “No.10 North” in Manchester, reflecting his plan to strengthen regional governance.

CURRENT AFFAIRS : DEFENCE NEWS

Ministry of Defence Signs Contract with General Atomics to Lease Two MQ-9B Sea Guardian Remotely Piloted Aircraft Systems for Indian Navy

• The Ministry of Defence (MoD) signed a contract with General Atomics Aeronautical Systems, Inc. (GA-ASI) to lease two MQ-9B Sea Guardian High-Altitude Long-Endurance (HALE) Remotely Piloted Aircraft Systems (RPAS) for the Indian Navy.
• The leasing period of the two MQ-9B Sea Guardian RPAS is 30 months.
• The contract is valued at approximately ₹1,943 crore.
• The contract was signed on 17 August 2026 at Kartavya Bhawan-2, New Delhi.
• The contract-signing ceremony was held in the presence of Anbarasu, Additional Secretary & Director General (Acquisition), Department of Defence.
• The MQ-9B Sea Guardian is equipped with advanced systems, state-of-the-art sensors and sophisticated payloads, making it suitable for long-duration maritime surveillance.
• The induction of these systems will significantly enhance the Indian Navy’s Maritime Domain Awareness (MDA)
• The MQ-9B Sea Guardian systems will provide persistent Intelligence, Surveillance and Reconnaissance (ISR) coverage over vast areas of the maritime domain.
• The enhanced ISR capability will strengthen India’s ability to monitor maritime developments and respond effectively to emerging situations.
• The systems will particularly strengthen India’s surveillance capabilities across the Indian Ocean Region (IOR).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Institute of Science Bengaluru Launches SraVaani Open-Source Multilingual Speech-Recognition Model

• The Indian Institute of Science (IISc), Bengaluru released SraVaani as an open-source multilingual speech-recognition model.
• SraVaani was developed by the SPIRE Lab at IISc in collaboration with ARTPARK, with support from Google.
• The model converts spoken words into text across 65 Indian languages and dialects, expanding speech-recognition technology beyond traditionally supported languages.
• SraVaani covers 20 scheduled Indian languages and 45 regional languages and dialects, including Garo, Angika, Chakma, Kokborok, Tulu, Bundeli and Bajjika.
• The model supports 10 scripts and has an automatic language identification feature, eliminating the need for users to manually select the language before speech recognition.
• SraVaani is designed to address the gap in speech AI for India's regional and non-scheduled languages, which remain underserved by existing speech-recognition systems.
• The model has pan-India language coverage, including 19 languages from Northeast India, 16 from eastern India, 9 from western India, 8 from northern India, 6 from southern India and 5 from central India, along with English and Sanskrit.
• Its coverage could potentially extend speech-AI capabilities to around 25 crore people, based on the 2011 Census, whose languages are not adequately handled by existing speech-recognition systems.
• SraVaani has been made publicly available on Hugging Face under the MIT Licence.
• The MIT Licence permits users to use, modify and redistribute the software with minimal restrictions, supporting wider adoption and innovation in speech AI.
• Hugging Face is a platform for hosting and sharing artificial intelligence models and datasets.
• SraVaani was trained using data from Project Vaani, a large-scale speech-data collection initiative focused on Indian languages and dialects.
• Project Vaani has collected more than 31,000 hours of natural conversational speech from around 1,56,000 people across 165 districts in 28 Indian states.
• The model's performance data showed a 5% Word Error Rate (WER) for Garo, while the next-best tested system recorded a 69.4% WER for the same language, demonstrating a major performance advantage.
• SraVaani is particularly significant for Machine Learning (ML), Natural Language Processing (NLP), speech-to-text applications and assistive technology.

Tata Power and Indian Institute of Technology Bombay Sign Master Research Agreement to Advance Next-Generation Clean Energy Technologies

• Tata Power Company Limited and the Indian Institute of Technology Bombay (IIT Bombay) signed a Master Research Agreement (MRA) to accelerate the development, scaling and commercialisation of next-generation energy technologies and clean energy solutions.
• The MRA was signed at the IIT Bombay campus, Mumbai, Maharashtra, by Praveer Sinha, CEO & MD, Tata Power, and Prof. Shrikrishna V. Kulkarni, Dean (Research & Development), IIT Bombay.
• The partnership aims to bridge the gap between laboratory research and commercial deployment by developing scalable, industry-ready energy technologies.
• The collaboration will support India’s clean energy transition, strengthen energy security, and contribute to sustainable development.
• The key focus areas include smart grids, power electronics, energy storage systems, electric mobility, cybersecurity, Artificial Intelligence (AI) for power systems, digital grid technologies, carbon capture technologies, and circular economy.
• The agreement combines IIT Bombay’s scientific research, innovation and technology-development expertise with Tata Power’s industry experience, large-scale deployment capabilities and commercialisation expertise.
• The collaboration is expected to accelerate the conversion of cutting-edge research into scalable, industry-ready technologies for the energy sector.

About Tata Power :

• Tata Power was incorporated in 1919 and is headquartered in Mumbai, Maharashtra.
• Tata Power is one of India’s largest integrated power companies, operating across both conventional and renewable energy segments.

CDSL Investor Protection Fund and Amar Chitra Katha Launch Film to Promote Financial Awareness and Informed Investing

• CDSL Investor Protection Fund (CDSL IPF) has launched a multilingual investor education film titled “The Garden of Prosperity” to promote financial awareness, thoughtful financial planning and informed investing.
• The animated film has been developed in collaboration with Amar Chitra Katha (ACK), using engaging storytelling to explain important investment concepts in a simple and relatable manner.
• “The Garden of Prosperity” uses the analogy of nurturing a garden to explain the importance of making wise and thoughtful investment decisions.
• The animated film features the popular historical characters Akbar and Birbal, who guide a newly married couple on how to invest their wedding gifts wisely.
• Through the story, Akbar and Birbal explain essential concepts related to financial planning and informed investing, making investment knowledge easier to understand.
• The film aims to make investment concepts accessible and relatable to investors across different age groups, geographies and demographic groups.
• The film is available in 12 languages, namely English, Hindi, Marathi, Bengali, Gujarati, Punjabi, Tamil, Telugu, Kannada, Malayalam, Odia and Assamese.
• The availability of the film in 12 Indian languages is intended to promote wider financial literacy and investor awareness across India.
• The collaboration combines the timeless wisdom of Akbar and Birbal with practical lessons on financial planning and investment, making investing easier to understand.
• Central Depository Services (India) Limited (CDSL) is the second central securities depository in India and is headquartered in Mumbai.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Sigma Advanced Systems and Indrajaal Secure ₹155 Crore Anti-Drone Order

• Sigma Advanced Systems, in partnership with Indrajaal Autonomous Defence Systems, secured a ₹155 crore order from the Ministry of Home Affairs for deploying Indrajaal Ranger mobile anti-drone patrol vehicles.
• The contract includes ₹145 crore for border security and ₹10 crore for urban policing and VVIP protection.
• The order marks a shift in counter-Unmanned Aircraft Systems (counter-UAS) security from static installations towards mobile and active patrolling.

Key Highlights

• Indrajaal Ranger is based on the Toyota Hilux platform and uses SkyOS. It is designed to detect, track, identify and neutralise rogue drones while operating at high speed.
• The deployment will strengthen India's capabilities against drone-based security threats, particularly in sensitive border and urban areas.
• Sigma Advanced Systems' consolidated revenue from operations increased 16% quarter-on-quarter to ₹374 crore in Q1 Financial Year 2026–27, compared with ₹323 crore in Q4 Financial Year 2025–26.
• Operational Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increased 11% quarter-on-quarter to ₹61 crore, with an operating EBITDA margin of around 16%.
• The company’s order book has exceeded ₹8,000 crore, supported by recent aerospace and defence contracts.
• In July 2026, Sigma Advanced Systems completed the 100% acquisition of United Kingdom-based Bromford Precision Solutions for £11.89 million, approximately ₹153 crore.
• In July 2026, the company also secured a United States Dollar 104.9 million export order, approximately ₹1,013 crore, for supplying extended-range 155 millimetre base-bleed artillery shells.
• On 10 August 2026, the company completed a ₹460 crore preferential allotment to support capacity expansion and inorganic growth.

India and Armenia Sign Defence Cooperation Memorandum of Understanding

• India and Armenia signed a Memorandum of Understanding (MoU) in Yerevan to strengthen cooperation in research, development, innovation and shared production in the defence sector.
• The MoU was signed between India’s Ministry of Defence and Armenia’s Ministry of High-Tech Industry, reaffirming their commitment to expand bilateral defence industrial cooperation.

Key Highlights

• Rajesh Kumar Singh, Defence Secretary of India, met Davit Tadevosyan, Minister of High-Tech Industry of Armenia, in Yerevan during his two-day visit to Armenia.
• Rajesh Kumar Singh also met Suren Papikyan, Defence Minister of Armenia, to explore new avenues for strengthening India-Armenia defence cooperation.
• He further held discussions with Lieutenant General Edvard Asryan, Chief of the General Staff of the Armed Forces of Armenia, focusing on defence industrial cooperation and defence research and development.
• Nilakshi Saha Sinha, Ambassador of India to Armenia, also participated in the high-level discussions.
• Rajesh Kumar Singh arrived in Yerevan on 16 August 2026 for a two-day official visit aimed at deepening bilateral defence engagement.
• The agreement is expected to promote joint research, technological innovation, defence production and industrial collaboration between India and Armenia.

CURRENT AFFAIRS : OBITUARIES

Three-Time National Award-Winning Bengali Filmmaker Raja Sen Passed away at 71

• Veteran Bengali filmmaker Raja Sen passed away at the age of 71 in Kolkata, West Bengal.
• He was born on 10 November 1955 in Kolkata.
• Raja Sen began his filmmaking journey with documentaries and later entered feature filmmaking with his directorial debut Damu (1996).
• Damu focused on the bond between a young boy and an elephant and won the National Film Award for Best Children’s Film in 1997.
• Raja Sen won three National Film Awards during his career: Suchitra Mitra (1993) for Best Arts/Cultural Film, Damu (1997) for Best Children’s Film, and Atmiyo Swajan (1999) for Best Film on Family Welfare.
• His notable films included Atmiyo Swajan, Desh, Debipaksha, Krishnakant er Will, Laboratory, and Maya Mridanga.
• His 2002 film Desh featured actors Jaya Bachchan and Abhishek Bachchan.
• Raja Sen worked across feature films, television, and documentaries, making significant contributions to Bengali cinema.
• He also created documentaries on prominent cultural personalities, including celebrated Rabindra Sangeet singer Suchitra Mitra.

CURRENT AFFAIRS: IMPORTANT DAYS

World Humanitarian Day 2026

• World Humanitarian Day (WHD) is observed annually on 19 August to honour humanitarian workers who provide life-saving assistance during conflicts, disasters and other humanitarian crises.
• World Humanitarian Day 2026 Theme: “Honouring fallen humanitarians and calling for greater protection of health care.”
• The day also promotes the protection of humanitarian personnel and respect for International Humanitarian Law (IHL).
• The United Nations General Assembly (UNGA) designated 19 August as World Humanitarian Day through Resolution A/RES/63/139, adopted on 11 December 2008.
• The first World Humanitarian Day was observed on 19 August 2009.
• The United Nations Office for the Coordination of Humanitarian Affairs (OCHA) launched the World Humanitarian Day campaign in 2010 to honour humanitarian workers and raise awareness about humanitarian efforts.
• 19 August was chosen to commemorate the 19 August 2003 bombing of the United Nations headquarters at the Canal Hotel in Baghdad, Iraq, in which 22 humanitarian workers were killed.
• The victims included Sérgio Vieira de Mello, the United Nations Special Representative for Iraq.

World Photography Day 2026

• World Photography Day is observed annually on 19 August to celebrate the art, craft, science and history of photography.
• World Photography Day 2026 Theme: “HOME”.
• The first official World Photography Day was celebrated on 19 August 2010.
• In 2010, nearly 270 photographers from around the world shared their photographs in a global online gallery, which was viewed by people from 100+ countries.
• World Photography Day commemorates the significance of photography and cameras in documenting people, places, events and history.
• The daguerreotype, an early photographic process, was publicly announced by the French Academy of Sciences in 1839.
• The first digital photograph was created in 1957, nearly two decades before the invention of the digital camera.

Daily CA One- Liner: August 20

• Karnataka Chief Minister D. K. Shivakumar announced the Vidyarthi Sahayahasta Scheme during the Independence Day celebrations in Bengaluru to improve access to professional education for students from rural government schools
• The Research Society for the Study of Diabetes in India launched the Diabetes Rural Outreach Digital Portal and VISHWAS (Diabetes Awareness Video Library) to strengthen diabetes prevention and management in rural India
• The Maharashtra Government has declared snakebite a notifiable disease, making it mandatory for all hospitals, medical colleges and healthcare professionals to report every suspected or confirmed snakebite case and death
• SEMICON India 2026, the 5th edition of India’s flagship semiconductor conference and exhibition, will be held from 17–19 September 2026 at Yashobhoomi (India International Convention and Expo Centre), Dwarka, New Delhi
• The Tamil Nadu Government has announced that maternity leave for women government employees having their third child will be increased from 12 weeks to 365 days
• The Ministry of Corporate Affairs organised the Prime Minister Internship Scheme Industry Awards 2026 in New Delhi to recognise industry partners for their contribution to the successful implementation of the Prime Minister Internship Scheme during its pilot phase
• Lakshmanan Meyyappan, a 16-year-old Indian, has been recognised by Guinness World Records as the world’s youngest male Chartered Accountant
• Sigma Advanced Systems, in partnership with Indrajaal Autonomous Defence Systems, secured a ₹155 crore order from the Ministry of Home Affairs for deploying Indrajaal Ranger mobile anti-drone patrol vehicles
• India and Armenia signed a Memorandum of Understanding (MoU) in Yerevan to strengthen cooperation in research, development, innovation and shared production in the defence sector
• World Humanitarian Day (WHD) is observed annually on 19 August to honour humanitarian workers who provide life-saving assistance during conflicts, disasters and other humanitarian crises
• World Photography Day is observed annually on 19 August to celebrate the art, craft, science and history of photography
• The Central Board of Direct Taxes (CBDT) has notified the Foreign Assets of Small Taxpayers – Disclosure Scheme (FAST-DS) Rules, 2026, providing eligible taxpayers with a one-time opportunity to voluntarily disclose certain previously undisclosed foreign assets and income.
• Wholesale Price Index (WPI)-based inflation in India eased marginally to 9.78% in July 2026, compared with 87% in June 2026, mainly due to cooling prices of fuel, power and food items.
• The Qatar-India Postal Remittance Service, based on PosTransfer powered by Unified Payments Interface (UPI), was operationalised in Doha, Qatar, enabling faster, secure and cost-effective cross-border remittances between Qatar and India.
• BSE Limited, formerly known as the Bombay Stock Exchange, and the PHD Chamber of Commerce and Industry (PHDCCI) signed a Memorandum of Understanding (MoU) to improve Micro, Small and Medium Enterprises (MSMEs)’ access to equity financing through capital markets.
• India’s retail inflation (CPI-based inflation) rose to a 19-month high of 4.45% in July 2026, driven mainly by higher food and fuel prices.
• YES Bank Limited launched the ‘YES Essence Credit Card’, a women-focused lifestyle and rewards credit card designed to address the evolving lifestyle and healthcare needs of women.
• The Ministry of Finance reduced India’s windfall gains tax on exports of petrol, diesel and Aviation Turbine Fuel (ATF).
• Tuhin Kanta Pandey, Chairman of the Securities and Exchange Board of India (SEBI), launched two new cybersecurity portals, ‘SEBI Incident Reporting’ and ‘Cyber Suraksha’, to strengthen cybersecurity, cyber resilience and information sharing across the securities market ecosystem.
• Hakainde Hichilema, leader of the United Party for National Development (UPND), was re-elected as the President of Zambia for a second consecutive five-year term (2026–2031).
• Gautam Rangarajan, an Indian-origin strategist and media executive, has been appointed Expert Adviser on Structure and Process by British Prime Minister Andy Burnham at 10 Downing Street.
• The Ministry of Defence (MoD) signed a contract with General Atomics Aeronautical Systems, Inc. (GA-ASI) to lease two MQ-9B Sea Guardian High-Altitude Long-Endurance (HALE) Remotely Piloted Aircraft Systems (RPAS) for the Indian Navy.
• The Indian Institute of Science (IISc), Bengaluru released SraVaani as an open-source multilingual speech-recognition model.
• Tata Power Company Limited and the Indian Institute of Technology Bombay (IIT Bombay) signed a Master Research Agreement (MRA) to accelerate the development, scaling and commercialisation of next-generation energy technologies and clean energy solutions.
• CDSL Investor Protection Fund (CDSL IPF) has launched a multilingual investor education film titled “The Garden of Prosperity” to promote financial awareness, thoughtful financial planning and informed investing.
• Veteran Bengali filmmaker Raja Sen passed away at the age of 71 in Kolkata, West Bengal.