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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Regional Rural Banks (RRBs) Achieve Robust Credit Growth in FY 2025–26

• During FY 2025–26, Regional Rural Banks (RRBs) continued to strengthen rural economic development and financial inclusion by expanding credit delivery and maintaining a strong focus on Priority Sector Lending (PSL).
• The gross loans outstanding of RRBs increased by 10.3%, rising from ₹5,24,163 crore in FY 2024–25 to ₹5,78,349 crore in FY 2025–26.
• Under the RBI’s Priority Sector Lending framework, RRBs recorded an average achievement of 91.7% of Adjusted Net Bank Credit (ANBC) against the prescribed overall PSL target of 75%.
• Almost all RRBs achieved the overall PSL target, reflecting their strong focus on priority sectors and financial inclusion.
• Agriculture and allied activities remained the largest component of the RRB credit portfolio, with outstanding credit of ₹3.78 lakh crore, accounting for 77% of total PSL.
• Farm credit constituted nearly 98% of agricultural lending, supporting crop cultivation, allied agricultural activities and investment in the rural economy.
• Credit to the Micro, Small and Medium Enterprises (MSME) sector stood at ₹66,978 crore, accounting for 13.6% of total PSL.
• More than 95% of MSME lending was directed towards micro enterprises, supporting first-generation entrepreneurs, self-employed persons, artisans and small business units in rural and semi-urban areas.
• Within MSME lending, the services sector received the largest share, followed by manufacturing enterprises and Khadi & Village Industries.
• RRBs extended ₹3.49 lakh crore in credit to weaker sections, reaffirming their commitment to financial inclusion and equitable access to institutional credit.
• RRB lending to housing, education, renewable energy and social infrastructure continued to support inclusive and sustainable development.
• Credit for housing supported household asset creation, while education lending contributed to human capital formation.
• Lending to renewable energy supported clean energy adoption, while credit for social infrastructure contributed to the development of local infrastructure.
• The overall performance of RRBs in FY 2025–26 highlighted sustained expansion in rural credit, strong alignment with national development priorities and continued support to farmers, micro-enterprises and underserved sections.
• RRBs remain key pillars of financial inclusion, rural livelihoods and the Government of India’s vision of inclusive and balanced economic growth.

ICRA Estimates India’s Gross Domestic Product Growth at 7% in Q1 FY27

• The credit rating agency in India, ICRA Limited has estimated India’s real Gross Domestic Product (GDP) growth at 7% for Q1 FY27 (April–June 2026).
• The estimated 7% GDP growth marks a four-quarter low, compared with 7.8% growth in Q4 FY26, mainly due to slower expansion in the services sector.
• ICRA projected industrial sector growth at 7.7% in Q1 FY27.
• Agriculture, forestry and fishing growth is projected at 4% in Q1 FY27.
• Services sector growth is estimated at7.9% in Q1 FY27.
• ICRA expects services Gross Value Added (GVA) growth to moderate to 7.9% in Q1 FY27 from 9.9% in Q4 FY26.
• ICRA has retained India’s FY27 GDP growth forecast at 6.7%, compared with 7.7% growth estimated for FY26.
• The FY27 GDP forecast is based on an average crude oil price assumption of USD 80–85 per barrel.
• India’s nominal GDP growth is expected to increase to around 13% in FY27, compared with 8.9% in FY26, mainly due to higher inflation.

About ICRA Limited :

• Established : 1991 and is an Indian credit rating and research agency.
• Headquarters : Gurugram, Haryana.
• Chairman : Palamadai Sundararajan Jayakumar

Jammu & Kashmir Bank Partners with HDFC Life to Broaden Insurance Offerings for Customers

• Jammu & Kashmir Bank Limited (J&K Bank) has signed a Corporate Agency Agreement (CAA) with HDFC Life Insurance Company Limited (HDFC Life) to offer a wide range of customer-centric insurance products.
• Under the strategic partnership, J&K Bank customers will be able to access a comprehensive range of HDFC Life insurance products through the bank's distribution network.
• The insurance offerings will cater to different life stages and financial needs, including protection, savings, investments and retirement planning.
• The partnership aims to expand the reach of life insurance products through J&K Bank's extensive distribution network across the country.
• The initiative aligns with the Insurance Regulatory and Development Authority of India (IRDAI) vision of “Insurance for All by 2047”.

About HDFC Life Insurance Company Limited :

• Established : 2000 and is a listed life insurance company in India.
• HDFC Bank Limited is the holding company and sole promoter of HDFC Life.
• Headquarters : Mumbai, Maharashtra.
• HDFC Life offers individual and group insurance solutions covering protection, savings, investment, pension, annuity and health products.

India’s Forex Reserves Rise by $6.12 Billion to $682.35 Billion

• India's foreign exchange (forex) reserves increased by $6.12 billion to $682.35 billion in the week ended July 24, 2026, according to data released by the Reserve Bank of India (RBI).
• The latest increase followed a $1.08 billion rise in the previous week, when India's forex reserves stood at $676.24 billion.
• The increase in forex reserves reflects continued strengthening of India's external sector buffer and provides greater protection against external economic shocks.
• The growth was mainly driven by a $4.87 billion increase in Foreign Currency Assets (FCAs), the largest component of India's forex reserves.
• India's Foreign Currency Assets (FCAs) rose to $555.93 billion during the week ended July 24, 2026.
• FCAs include the impact of appreciation or depreciation of non-US currencies, such as the euro, pound sterling and Japanese yen, held as part of India's foreign exchange reserves.
• India's gold reserves increased by $1.31 billion to $103.06 billion during the reporting week.
• India's holdings of Special Drawing Rights (SDRs) with the International Monetary Fund (IMF) declined by $53 million to $18.62 billion.
• India's reserve position with the IMF also declined by $11 million to $4.75 billion during the week.
• India's forex reserves had reached a record high of $728.49 billion in the week ended February 27, 2026.
• Following the record high, India's forex reserves came under pressure due to heightened geopolitical tensions in the Middle East.
• The RBI intervened in the foreign exchange market through dollar sales to contain excessive volatility in the Indian rupee.
• To strengthen foreign exchange inflows, the RBI and the Central Government introduced several measures, including relaxations under the Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit scheme.
• These measures reportedly attracted around $32 billion in inflows, providing additional support to India's foreign exchange reserves.
• India's forex reserves remain among the largest globally and act as a critical buffer against external shocks.

Razorpay Launches Vulcan, India’s First AI-Powered Payments Foundation Model

• Razorpay, a leading Indian fintech company, has launched “Razorpay Vulcan”, India’s first Artificial Intelligence (AI)-powered payments foundation model.
• Razorpay Vulcan is designed to make digital transactions more reliable, secure and predictable.
• The launch is significant as India’s digital e-commerce market is projected to reach around USD 350 billion by 2030.
• The AI-powered payments model was developed using technologies from NVIDIA and Amazon Web Services (AWS).
• Razorpay Vulcan aims to strengthen India’s digital payment ecosystem by addressing payment failures, fraud, transaction routing and checkout-related friction.
• The model has been trained on nearly 3 trillion data points collected across 4 billion payments processed through Razorpay’s payments network.
• The extensive training data is used to improve payment routing, fraud detection and risk decisions on live transactions.
• The technology has improved payment success rates by up to 10%, helping reduce payment failures and improve transaction reliability.
• The model has enabled the detection and prevention of international card fraud by 8 times more, strengthening payment security.
• Razorpay Vulcan has also identified 5 times more fraudulent or disputed transactions, improving fraud-risk management.

About Razorpay :

• Founded : 2014 by Harshil Mathur and Shashank Kumar.
• Headquarters : Bengaluru, Karnataka, and provides payment and financial technology solutions to businesses.

Reserve Bank of India Proposes Uniform Interest Rate Framework Across Regulated Entities to Boost Loan Pricing Transparency

• The Reserve Bank of India (RBI) has proposed to harmonise and standardise the regulatory framework for interest rates on advances across all Regulated Entities (REs) to improve loan-pricing transparency and strengthen consumer protection.
• The proposal aims to ensure greater uniformity in lending-rate practices across regulated entities while maintaining proportionality in regulation.
• The RBI clarified that the proposal will not bring major changes to the existing lending-rate framework and will not require NBFCs to adopt the EBLR regime.
• The rationalisation will address operational issues in the existing Marginal Cost of Funds Based Lending Rate (MCLR) and External Benchmark Linked Lending Rate (EBLR)
• The RBI also plans to standardise market practices related to interest charging, particularly day-count conventions and benchmark reset dates.
• The proposed measures are aimed at improving transparency in loan pricing, strengthening monetary policy transmission, ensuring uniformity, and enhancing consumer protection.
• According to an SBI report, India's bank-lending rate framework has evolved over time to improve transparency and monetary policy transmission.
• Banks followed the Prime Lending Rate (PLR) system until 2010, after which they shifted to the Base Rate system.
• After 2016, banks migrated to the MCLR framework, which links lending rates to the marginal cost of funds.
• The RBI introduced the EBLR regime in 2019 to further improve monetary policy transmission.
• Currently, 6% of bank loans are linked to the EBLR regime.

India’s Total Exports Rise 13.31% to USD 80.14 Billion in July 2026: Ministry of Commerce and Industry

• The Ministry of Commerce and Industry (MoCI) released India’s foreign trade data for July 2026 and April–July 2026-27.
• India’s overall exports, including merchandise and services, increased from USD 70.72 billion in July 2025 to USD 80.14 billion in July 2026, registering a 31% year-on-year (Y-o-Y) growth.
• India’s overall imports increased by 83%, rising from USD 82.16 billion in July 2025 to USD 95.16 billion in July 2026.
• India’s total trade deficit stood at USD 15.03 billion in July 2026, higher than the USD 11.43 billion trade deficit recorded in July 2025.
• India’s merchandise exports increased by 63%, from USD 36.98 billion in July 2025 to USD 44.24 billion in July 2026.
• Merchandise exports of USD 44.24 billion in July 2026 surpassed the previous record of USD 38.34 billion recorded in July 2022.
• India’s merchandise imports increased by 52% Y-o-Y, rising from USD 64.86 billion in July 2025 to USD 76.22 billion in July 2026.
• India’s services exports increased to USD 35.89 billion in July 2026, compared with USD 33.74 billion in July 2025.
• India’s services imports increased to USD 18.94 billion in July 2026, compared with USD 17.30 billion in the corresponding period of the previous year.
• Iron ore exports recorded the highest growth among the listed sectors, increasing by 35%.
• Petroleum product exports increased by 64% to USD 6.92 billion in July 2026.
• Electronic goods exports grew by 40% to USD 5.92 billion during July 2026.
• Exports of meat, dairy and poultry products increased by 84%.
• Cashew exports recorded a growth of 11% in July 2026.
• Marine product exports increased by 83% during the month.

Supreme Court Directs Reserve Bank of India to Frame Standard Operating Procedure for Banks to Combat Digital Arrests and Mule Account Frauds

• The Supreme Court of India directed the Centre, States, Reserve Bank of India (RBI) and telecom authorities to strengthen measures against “digital arrest” scams and cyber fraud.
• The Supreme Court directed the Reserve Bank of India (RBI) to prepare and circulate a Standard Operating Procedure (SOP) for banks within four weeks to deal with cyber-enabled financial fraud.
• The RBI’s SOP will provide for temporary debit holds on suspected mule accounts, particularly those linked to money laundering and cyber fraud.
• The court directed authorities to establish effective grievance redressal mechanisms, money restoration systems and time-bound recovery of defrauded funds.
• The Supreme Court also directed authorities to initiate criminal action against cyber fraudsters through the e-Zero FIR mechanism.
• The Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs (MHA), reported that complaints of digital arrests on the National Cyber Crime Reporting Portal declined from 1,23,672 in 2024 to 58,249 in 2025.
• The number of digital-arrest complaints stood at 16,377 as of 30 June 2026, showing a further decline.
• A Data-Sharing MoU between the Reserve Bank Innovation Hub (RBIH) and I4C was executed on 11 May 2026 to strengthen cyber-fraud prevention and information sharing.
• The Grievance Redressal Mechanism Portal covers 1,23,590 branches of 69 banks, enabling victims to seek relief against cyber-fraud-related account restrictions.
• The Money Restoration Mechanism Portal has 57 participating banks and covers all 36 States and Union Territories.
• Through the Money Restoration Mechanism, money was restored in 36,290 cases, involving an aggregate amount of ₹18.05 crore.
• The e-Zero FIR mechanism was functional in 19 States, while only 14 States had notified their State Cyber Crime Coordination Centres.
• The Supreme Court directed all States and Union Territories to notify Cyber Crime Coordination Centres and operationalise e-Zero FIR mechanisms within four weeks.
• The court directed that cases involving frozen bank accounts arising from cyber fraud should be dealt with expeditiously.
• The Central Bureau of Investigation (CBI) had registered 10 digital-arrest cases along with several connected cases as part of its investigation into organised cyber-fraud networks.
• In one CBI investigation, 238 victims, 67 first-layer bank accounts and transactions worth approximately ₹80 crore were identified.
• The CBI conducted searches at 93 locations across 16 States in connection with the cyber-fraud investigation.
• The Inter-Departmental Committee asked the CBI to examine whether the existing ₹10 crore investigation threshold should be lowered.
• The committee also proposed examining whether multiple cases involving the same organised cyber-fraud network could be clubbed together when their cumulative fraud crosses the prescribed threshold.
• The Telecommunications (Radio Equipment Possession Authorisation) Rules, 2025 had been notified, while the Telecommunications (User Identification) Rules, 2025 were at the final stage of notification.
• The Supreme Court directed States and Union Territories to frame grievance redressal and money restoration modules in accordance with the MHA’s SOP for the National Cyber Crime Reporting Portal and Cyber RMS.

Periodic Labour Force Survey July 2026: India’s Unemployment Rate Falls to 5.1% from 5.5% in June

• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released the Monthly Bulletin of the Periodic Labour Force Survey (PLFS) for July 2026.
• India’s Unemployment Rate (UR) declined to 1% in July 2026, compared with 5.5% in June 2026, indicating an improvement in the labour market.
• The July 2026 PLFS bulletin is the 16th bulletin in the current series covering the period from April 2025 to July 2026.
• The PLFS bulletin provides estimates of three major labour-market indicators: Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR) and Unemployment Rate (UR).
• These labour-market indicators are measured using the Current Weekly Status (CWS) approach.
• The Unemployment Rate (UR) for persons aged 15 years and above stood at 5% in rural areas in July 2026.
• The urban Unemployment Rate for persons aged 15 years and above stood at 7% in July 2026, which was higher than the rural unemployment rate.
• India’s Labour Force Participation Rate (LFPR) for persons aged 15 years and above increased to 4% in July 2026, from 54.4% in June 2026.
• The increase in LFPR indicates a higher proportion of the working-age population participating in the labour force.
• India’s Worker Population Ratio (WPR) for persons aged 15 years and above increased to 5% in July 2026, from 51.4% in June 2026.
• The rise in WPR indicates an increase in the proportion of the working-age population that is employed.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

31st Southern Zonal Council Meeting to Be Held in Tamil Nadu

• Union Home Minister Amit Shah will chair the 31st Southern Zonal Council meeting at Kovalam near Mahabalipuram, Tamil Nadu.
• The meeting will focus on Centre-State coordination, inter-State issues and regional development through cooperative federalism.
• The Southern Zonal Council comprises Andhra Pradesh, Karnataka, Kerala, Tamil Nadu and Telangana, along with the Union Territories of Puducherry, Andaman and Nicobar Islands and Lakshadweep.
• The meeting is being organised by the Inter-State Council Secretariat under the Ministry of Home Affairs, with the Tamil Nadu Government hosting the event.

Key Highlights

• Chief Ministers, Lieutenant Governors, Administrators and senior ministers from the member States and Union Territories, along with senior Central Government officials, will participate.
• Amit Shah is the Chairman of the Southern Zonal Council, while the Chief Minister of Tamil Nadu C. Joseph Vijay is the Vice-Chairman.
• The Vice-Chairmanship is held by the Chief Ministers of member States  on a rotational basis.
• The Zonal Councils were established under Sections 15 to 22 of the States Reorganisation Act, 1956, to provide a structured platform for discussing inter-State and Centre-State issues.
• The councils are advisory bodies that promote cooperative federalism, consensus-building and resolution of regional disputes.
• A Standing Committee of Chief Secretaries examines issues raised by member States before unresolved matters are placed before the full Zonal Council.
• Since June 2014, 69 meetings of various Zonal Councils and their Standing Committees have been conducted, reflecting increased Centre-State engagement.
• Key issues discussed through the Zonal Council mechanism include water-sharing, the Andhra Pradesh Reorganisation Act, housing under Pradhan Mantri Awas Yojana-Gramin, civil aviation, education and Fast Track Special Courts.

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

• The government of Tamil Nadu has made a major policy shift with respect to maternity leave, offering women government employees who have had their third baby leave for 365 days as compared to the earlier period of 12 weeks.

Cabinet Approves Four-Laning of Muzaffarpur–Sitamarhi–Sonbarsa Section of National Highway 22 in Bihar

• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the upgradation of the 82.578-kilometre Muzaffarpur–Sitamarhi–Sonbarsa section of National Highway 22 (NH-22) to four-lane standards in Bihar.
• The project will be implemented under the Hybrid Annuity Mode (HAM) at a total capital cost of ₹3,590.73 crore.
• The upgraded corridor will connect Muzaffarpur, where it links with National Highway 27 (NH-27), to Sonbarsa near the India–Nepal border.

Key Highlights

• The project is expected to reduce traffic congestion and travel time and improve road safety, fuel efficiency and vehicle operating costs in densely populated areas including Muzaffarpur, Muksudpur, Runni Saidpur, Thumma, Dumra, Bhutahi and Sonbarsa.
• The four-lane corridor has been designed for a maximum speed of 100 kilometres per hour, with an average operating speed of 80 kilometres per hour. It will have no at-grade median openings to ensure safer and smoother traffic movement.
• The project has been planned under the PM GatiShakti National Master Plan to strengthen multimodal connectivity with important economic, social and logistics nodes.
• The upgraded highway will improve connectivity to industrial areas, railway stations and agricultural markets, facilitating the movement of passengers and freight, including agricultural produce.
• The project will strengthen connectivity to the Buddhist Circuit and Janaki Punaura Dham Temple in Sitamarhi, supporting tourism and pilgrimage activities.
• The corridor will strengthen links with National Highway 31 (NH-31) and National Highway 122 (NH-122) and improve connectivity with industrial areas such as Barauni and logistics hubs along the Ganga River.
• The project will facilitate cross-border passenger and cargo movement through the nearby Land Port at Bhithamore.
• Major infrastructure under the project includes 7 major bridges, including a 340-metre-long bridge over the perennial Bagmati River, along with 3 railway overbridges and 2 flyovers measuring 1,170 metres and 270 metres, respectively.
• The project will provide seamless connectivity to 5 PM GatiShakti economic nodes, comprising 4 industrial estates and 1 Mega Food Park.
• It will also improve connectivity to 4 social nodes, including Baba Garibnath Temple, Mata Janki Temple, Punaura Dham, and the Muzaffarpur and Sitamarhi aspirational districts, along with 2 logistics nodes — Muzaffarpur and Sitamarhi railway stations.

About Bihar:

• Chief Minister: Samrat Choudhary
• Governor: Syed Ata Hasnain
• Capital: Patna
• National Parks: Valmiki National Park
• Wildlife Sanctuaries: Valmiki, Bhimbandh, Kaimur, Gautam Buddha Wildlife Sanctuaries

RECENT NEWS

• The Bihar Student Credit Card Scheme (BSCC) is a flagship program under the Department of Education, Government of Bihar, which was started for the students to gain access to higher studies without facing any financial problems.

Cotton Corporation of India Celebrates 56th Foundation Day with Focus on Cotton Farmers and Sustainable Cotton Production

• Cotton Corporation of India Limited (CCI), a Public Sector Undertaking under the Ministry of Textiles, celebrated its 56th Foundation Day at Chhatrapati Sambhajinagar, Maharashtra.
• Union Minister of Textiles Giriraj Singh attended the event and highlighted the importance of cotton for India’s rural economy, agricultural prosperity and self-reliance.

Key Highlights

• During Cotton Season 2025–26, Cotton Corporation of India Limited procured more than 522 lakh quintals of seed cotton (kapas) through nearly 24 lakh farmer transactions, directly transferring ₹41,530 crore to farmers’ Aadhaar-linked bank accounts.
• The Minimum Support Price (MSP) for seed cotton (kapas) has been increased by around 7% for Cotton Season 2026–27, aimed at strengthening the income security of cotton farmers.
• The Cotton Productivity Mission – Kapas Kanti was highlighted as a major initiative with an outlay of ₹5,659 crore for five years to improve cotton productivity and quality, modernise processing infrastructure and promote sustainable and climate-resilient cultivation.
• Kasturi Cotton Bharat aims to promote premium Indian cotton from “Farm to Fashion to Global Market” through quality certification, traceability and sustainability standards.
• The “Kapas Darshan” Bulletin was launched to provide cotton farmers with information on weather, markets, scientific cultivation practices, quality management and Government initiatives.
• Modern agricultural equipment, including Kapas Plucker Machines, Cotton Stalk Shredder Machines and Contamination Control Kits, was distributed to cotton farmers and Farmer Producer Organisations (FPOs).
• Four Memoranda of Understanding (MoUs) were signed to strengthen India’s cotton ecosystem:
• Cotton Corporation of India Limited and Indian Council of Agricultural Research – Central Institute for Research on Cotton Technology for capacity building and quality improvement in the ginning and pressing sector.
• Cotton Corporation of India Limited and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for improving market access, sustainability, quality assurance and traceability under Kasturi Cotton Bharat.
• Confederation of Indian Textile Industry, International Cotton Advisory Committee and MERAGO/GeoClara for promoting carbon-credit generation through climate-smart and sustainable cotton cultivation.
• Textile Export Promotion Council and Manjeet Cotton Private Limited for production and certification of 30,000 cotton bales under the Kasturi Cotton Bharat programme.
• The event also focused on pink bollworm management, contamination-free cotton production, scientific cultivation practices and digital initiatives such as the Kapas Kisan Mobile Application.

About Ministry of Textiles:

• Cabinet Minister: Giriraj Singh
• Constituency: Begusarai, Bihar
• Ministers of State (MoS): Pabitra Margherita

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

Pradhan Mantri Viksit Bharat Rojgar Yojana Completes One Year, Crosses 72 Lakh First-Time Employees

• Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY), the Centre’s employment-linked incentive scheme, completed one year of implementation in August 2026.
• More than 72 lakh first-time employees have joined the formal workforce since the launch of the scheme in August 2025.
• The scheme was launched for the period 1 August 2025 to 31 July 2027 with a total financial outlay of ₹99,446 crore.

Key Highlights

• PM-VBRY aims to generate employment for more than 3.5 crore people, including 1.92 crore first-time employees, through an Employees’ Provident Fund Organisation (EPFO)-linked framework.
• Under the employee component, first-time employees earning up to ₹1 lakh per month are eligible for a one-time incentive equal to one month’s Employees’ Provident Fund wage, subject to a maximum of ₹15,000.
• The employee incentive is provided in two instalments after completion of 6 months and 12 months of continuous service, with the second instalment linked to completion of a financial literacy programme.
• Under the employer component, eligible employers can receive an incentive of up to ₹3,000 per month for two years for every additional employee retained for at least six months.
• For the manufacturing sector, employer incentives are extended to the third and fourth years to encourage sustained employment generation in labour-intensive industries.
• More than 15 lakh beneficiaries have already received employment-linked incentives, while nearly 30% of beneficiaries are women.
• The scheme supports formalisation of employment, expansion of social security coverage and reduction of hiring costs for employers.
• PM-VBRY complements the National Manufacturing Mission by encouraging employment generation in new and expanding industries.
• The scheme is implemented through a fully digital platform integrated with the Employees’ Provident Fund Organisation, using Aadhaar-based authentication, Universal Account Numbers, Electronic Challan-cum-Return filings and Face Authentication Technology through the Unified Mobile Application for New-age Governance application.
• Benefits are transferred directly to Aadhaar-linked bank accounts through the Direct Benefit Transfer mechanism.
• A dedicated Pradhan Mantri Viksit Bharat Rojgar Yojana portal enables real-time monitoring of beneficiaries and sector-wise progress.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Odisha Signs ₹3,384.82 Crore Agreement for Amended BharatNet Programme

• The Odisha Government signed a tripartite agreement with Digital Bharat Nidhi, Department of Telecommunications and Bharat Sanchar Nigam Limited for implementing the ₹3,384.82 crore amended BharatNet programme in the state.
• The programme aims to provide fibre-based broadband connectivity to all 6,799 Gram Panchayats of Odisha over the next 10 years.

Key Highlights

• Bharat Sanchar Nigam Limited has been designated as the Single Project Management Agency, while Creative Newtech Private Limited has been appointed as the Project Implementing Agency.
• The project will establish a carrier-grade Internet Protocol-Multiprotocol Label Switching network to provide reliable high-speed broadband and Fibre-to-the-Home connectivity to Gram Panchayats, government institutions, rural communities and households.
• All Gram Panchayats will be connected through a ring-topology-based broadband network, strengthening rural digital infrastructure and reducing the digital divide.
• The upgraded connectivity is expected to support e-governance, digital education, telemedicine, financial inclusion and rural entrepreneurship.
• The project is expected to generate nearly 10,000 direct and indirect employment opportunities across Odisha.
• In a parallel development, the Odisha Computer Application Centre signed an agreement with the Centre for Development of Advanced Computing to collaborate in Artificial Intelligence, High-Performance Computing, cybersecurity, quantum computing, language technologies and digital governance.
• The initiatives are aimed at strengthening digital public infrastructure and accelerating Odisha’s transition towards a technology-driven economy.

About Odisha:

• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park, Nandankanan National Park
• Wildlife Sanctuaries: Bhitarkanika Wildlife Sanctuary, Chilika Wildlife Sanctuary, Balukhand-Konark Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Gahirmatha Marine Wildlife Sanctuary, Satkosia Gorge Wildlife Sanctuary, Chandaka-Dampara Wildlife Sanctuary, Kuldiha Wildlife Sanctuary, Baisipalli Wildlife Sanctuary, Sunabeda Wildlife Sanctuary

CURRENT AFFAIRS: RANKING AND INDEX

Shah Rukh Khan Tops India’s Most Valuable Celebrity Brand List 2025: Kroll Report

• Shah Rukh Khan has emerged as India’s most valuable celebrity brand with a brand value of USD 177.9 million, according to the Celebrity Brand Valuation Report 2025 by Kroll.

Key Highlights

• Shah Rukh Khan moved from 3rd position in 2024 to 1st position in 2025, despite not having a theatrical release since Dunki in December 2023.
• Ranveer Singh secured the 2nd position with a brand value of USD 162.9 million, while Virat Kohli slipped to 3rd position with USD 158.4 million.
• Sachin Tendulkar ranked 4th with a brand value of USD 125.9 million, followed by Mahendra Singh Dhoni at 5th position with USD 115.3 million.
• Alia Bhatt secured 6th position with a brand value of USD 93.9 million, while Deepika Padukone ranked 7th with USD 89.2 million.
• Hrithik Roshan ranked 8th with USD 88.9 million, Amitabh Bachchan ranked 9th with USD 80.8 million, and Akshay Kumar secured 10th position with USD 80 million.
• Top 10 Celebrity Brand Rankings: 1. Shah Rukh Khan – USD 177.9 million; 2. Ranveer Singh – USD 162.9 million; 3. Virat Kohli – USD 158.4 million; 4. Sachin Tendulkar – USD 125.9 million; 5. Mahendra Singh Dhoni – USD 115.3 million; 6. Alia Bhatt – USD 93.9 million; 7. Deepika Padukone – USD 89.2 million; 8. Hrithik Roshan – USD 88.9 million; 9. Amitabh Bachchan – USD 80.8 million; 10. Akshay Kumar – USD 80 million.
• Other prominent personalities featured in the list include Ranbir Kapoor, Rashmika Mandanna, Salman Khan, Rohit Sharma, Kareena Kapoor, Kartik Aaryan, Kiara Advani, Kriti Sanon, Ananya Panday and Jasprit Bumrah.

CURRENT AFFAIRS : DEFENCE NEWS

India-Thailand Joint Exercise MAITREE-XV Commences to Enhance Defence Cooperation

• The Indian Army (IA) contingent has departed for Thailand to participate in the 15th edition of India-Thailand Joint Military Exercise MAITREE-XV (2026).
• Exercise MAITREE-XV is being conducted from 18 August to 31 August 2026 at Vibhavadi Rangsit Camp, Surat Thani, Thailand.
• The main aim of Exercise MAITREE is to foster military cooperation between India and Thailand and enhance interoperability, mutual understanding and joint operational capabilities.
• The exercise focuses on strengthening the combined capabilities of the two armies in conducting Joint Counter-Insurgency/Terrorist Operations in jungle and semi-urban environments.
• The joint operations are conducted under Chapter VII of the United Nations Charter, which deals with action with respect to threats to peace, breaches of peace and acts of aggression.
• The Indian Army and Royal Thai Army contingents comprise 85 personnel each, making the exercise a 170-personnel bilateral military exercise.
• The Indian contingent is represented primarily by troops from the 9 Gorkha Rifles.
• The Royal Thai Army contingent comprises personnel from the 3rd Battalion, 25th Infantry Brigade, 5th Division.
• The exercise involves company-level joint training focused on military operations in jungle and semi-urban terrain.
• The training programme includes field exercises, combat discussions, lectures and demonstrations, followed by a culminating validation exercise.
• The 48-hour validation exercise includes establishing a Temporary Operating Base (TOB), creating an Intelligence, Surveillance and Reconnaissance (ISR) grid, village isolation, Heliborne Operations, raids and hostage rescue operations.
• The contingents will exchange operational experiences and showcase contemporary military equipment and technologies used during joint operations.
• Exercise MAITREE was instituted in 2006 and serves as an important platform for sharing best practices and strengthening military cooperation between India and Thailand.
• The previous edition of Exercise MAITREE was conducted at the Foreign Training Node, Umroi, Meghalaya, in September 2025.

About Thailand :

• Prime Minister : Anutin Charnvirakul
• Capital : Bangkok
• Currency : Thai baht

Union Defence Minister Rajnath Singh Launches All India Girls High Altitude Trek ‘Aparajita – Parang La 2026’

• Union Defence Minister Rajnath Singh flagged off the All India Girls High Altitude Long Trek “Aparajita – Parang La 2026”, a flagship adventure activity of the National Cadet Corps (NCC), in New Delhi, Delhi.
• The flag-off ceremony was attended by Lieutenant General Virendra Vats, Director General, NCC, along with senior officials from the NCC and Ministry of Defence (MoD).
• The Aparajita – Parang La 2026 expedition will cover approximately 250 km over a period of more than 30 days.
• The expedition will cross the Parang La Pass, located at an altitude of 5,578 metres (18,300 feet).
• Parang La Pass connects the Spiti Valley of Himachal Pradesh with the Changthang region of Ladakh.
• The expedition aims to promote women empowerment, leadership, endurance, self-confidence and national integration among young NCC girl cadets.
• The expedition route covers challenging Himalayan terrain through Kibber, Dumla, Thaltak, Bongrojen, Parang La Pass, Dak Karzong, Norbu Sumdo, Kiangdom and Korzok.
• The participants will traverse diverse and difficult terrains, including deserts, glaciers, snowfields and river valleys, testing their physical endurance and leadership abilities.
• The expedition is led by three women officers representing the three services of the Indian Armed Forces.
• The expedition team comprises 28 NCC girl cadets, with an average age of 19 years and the youngest cadet aged 5 years.
• The NCC cadets are supported by officers, medical staff and instructors throughout the expedition.
• Aparajita – Parang La 2026 also reflects the spirit of “Ek Bharat, Shreshtha Bharat” through participation representing India's diversity and promoting national integration.

Aatmanirbhar Bharat: Defence Ministry Announces 6th Positive Indigenisation List Covering 405 Key Items

• The Ministry of Defence (MoD), through the Department of Defence Production (DDP), has notified the 6th Positive Indigenisation List (PIL) comprising 405 strategically important defence items.
• The 6th PIL includes 389 items of Defence Public Sector Undertakings (DPSUs) and 16 items of the Indian Coast Guard (ICG).
• The list covers critical components, spares, raw materials, Line Replaceable Units (LRUs), sub-systems and sub-assemblies required for various defence platforms.
• The 6th PIL carries an estimated business potential of ₹3,070 crore and aims to promote domestic defence manufacturing while reducing dependence on imports.
• The items cover major air platforms such as Advanced Light Helicopter (ALH), Light Utility Helicopter (LUH), Su-30MKI, Light Combat Aircraft (LCA) and the AL-31FP engine.
• The list also covers armoured platforms including T-72, T-90 and BMP-II, along with warships and other critical defence equipment.
• Important missile systems covered under the list include Konkurs-M, Invar and MRSAM.
• The 6th PIL also includes defence electronics such as radars, sonars, fire control systems and satellite communication systems.
• Other critical equipment covered includes High Explosive Anti-Tank (HEAT) ammunition and various defence components and spares.
• The Defence PSUs covered under the 6th PIL include Armoured Vehicles Nigam Limited (AVNL), Bharat Dynamics Limited (BDL), Bharat Electronics Limited (BEL), BEML Limited, Garden Reach Shipbuilders and Engineers (GRSE), Goa Shipyard Limited (GSL), Hindustan Shipyard Limited (HSL), Hindustan Aeronautics Limited (HAL), Mishra Dhatu Nigam Limited (MIDHANI) and Munitions India Limited (MIL), along with the Indian Coast Guard.
• The detailed list of items is available on the SRIJAN Defence Portal, which provides information on the items identified for indigenous development and production.
• Each item in the 6th PIL has an indicative timeline for indigenisation, after which successful indigenous products will be procured from Indian industry.
• DPSUs and the Indian Coast Guard will undertake indigenisation through various routes, including the ‘Make’ procedure and in-house development, with participation from domestic industry, particularly MSMEs.
• The 6th PIL is an important step towards Aatmanirbhar Bharat in the defence sector by promoting self-reliance, domestic manufacturing, investment and innovation.
• The initiative is expected to create more opportunities for Indian defence companies and MSMEs, strengthen the domestic defence manufacturing ecosystem, and reduce India's import dependence.
• The SRIJAN Defence Portal was launched by the Department of Defence Production in August 2020 as a dedicated platform for DPSUs and Service Headquarters (SHQs) to offer defence items to Indian industry for indigenous development and production.
• The SRIJAN Portal has facilitated the offer of more than 33,000 defence items for indigenisation by DPSUs and SHQs up to June 2026.
• Out of these, 5,012 items were notified under the first five Positive Indigenisation Lists.
• More than 15,700 defence items have been successfully indigenised, resulting in an estimated import substitution value of about ₹9,000 crore over the last five years.
• In addition, DPSUs have placed procurement orders, including in-house production, worth approximately ₹10,000 crore with domestic vendors up to March 2026.

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Sanjay Seth

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Approves Tata Steel’s Acquisition of Additional 23% Stake in TM International Logistics

• The Competition Commission of India (CCI) approved Tata Steel Limited’s acquisition of an additional 23% equity stake in TM International Logistics Limited (TMILL).
• The transaction involves Tata Steel acquiring the entire 23% equity shareholding held by existing joint venture partner IQ Martrade Holding Und Management GmbH (IQ Martrade).
• Following completion of the transaction, IQ Martrade will exit TM International Logistics Limited and cease to be a shareholder.
• After the acquisition, the shareholding pattern of TMILL will change from 51:23:26 to 74:26, with Tata Steel holding 74% and NYK (Europe) B.V. holding 26%.
• The 23% stake acquisition is valued at approximately ₹335 crore.
• TM International Logistics Limited (TMILL) was established as a joint venture primarily to meet the logistics and cargo transportation requirements of Tata Steel.
• The original 51:23:26 shareholding pattern of TMILL consisted of Tata Steel, IQ Martrade and NYK (Europe) B.V., respectively.
• TMILL provides logistics services across various segments of the logistics value chain, including railway cargo transportation, port operations, cargo handling, freight forwarding and other value-added logistics services.
• Tata Steel Limited is a public limited listed company engaged in integrated steel manufacturing, covering activities from mining to steelmaking and further processing.
• Tata Steel is listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
• The acquisition will give Tata Steel a 74% majority stake in TMILL, increasing its control over the logistics company, while NYK (Europe) B.V. will retain a 26% stake.

CURRENT AFFAIRS: SPORTS NEWS

65th Subroto Cup International Football Tournament 2026 Begins in New Delhi

• The 65th Subroto Cup International Football Tournament 2026 commenced at Dr. B. R. Ambedkar Stadium, New Delhi.
• The tournament was inaugurated by Air Marshal S. Sivakumar, Air Officer-in-Charge Administration and Vice Chairman, Subroto Mukerjee Sports Education Society.
• Lovepreet Singh, member of the Indian men’s national weightlifting team, attended the opening ceremony as the Guest of Honour.

Key Highlights

• In the opening match of the Junior Girls Under-17 category, Meghalaya defeated Chandigarh 2–0, with goals scored by Genefa and Wandari.
• The tournament features 108 teams across three categories: Junior Girls Under-17, Junior Boys Under-17 and Sub-Junior Boys Under-15.
• Each category is divided into 8 groups, with group winners progressing to the knockout stages and subsequently the finals.
• The tournament aims to promote grassroots football, nurture young talent and provide aspiring footballers with a competitive platform for development.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Prashant Agrawal Releases “Bringing the Cheetah Back to India” Book on Project Cheetah

• Prashant Agrawal, a 1998-batch Indian Foreign Service (IFS) officer, has authored the book “Bringing the Cheetah Back to India: How Diplomacy Made Conservation’s Big Mission Possible.”
• The book, published by Hachette India, documents the diplomatic, logistical and ecological efforts involved in the reintroduction of cheetahs in India under Project Cheetah.

Key Highlights

• Prashant Agrawal served as India’s High Commissioner to Namibia from 2018 and played a key role in negotiations that facilitated the transfer of cheetahs from Namibia to India.
• The book highlights the importance of international cooperation and diplomacy in wildlife conservation, covering negotiations, quarantine arrangements and the challenges involved in the translocation of cheetahs.
• Under Project Cheetah, African cheetahs (Acinonyx jubatus) were reintroduced at Kuno National Park, Madhya Pradesh, after the species had been absent from India for around 70 years.
• Cheetahs were translocated to India from Namibia and South Africa, making Project Cheetah an important example of intercontinental wildlife conservation cooperation.

CURRENT AFFAIRS : OBITUARIES

Entertainment and Sports Programming Network Co-Founder William F. Rasmussen Passed away at 93 in Seattle, USA

• William F. Rasmussen, the co-founder of ESPN (Entertainment and Sports Programming Network), passed away at the age of 93 in Seattle, Washington,the United States of America (USA).

About William F. Rasmussen :

• William F. Rasmussen was born on 15 October 1932 in Chicago, USA.
• He was a pioneer in sports media who transformed global television by conceptualising the world’s first 24-hour sports cable television network in the late 1970s.
• Along with his son Scott Rasmussen, William F. Rasmussen launched ESPN on 7 September 1979 from Bristol, Connecticut, USA.
• He stepped away from an active role at ESPN in 1980 after helping establish the sports broadcasting network.
• Rasmussen was recognised as an influential figure in sports broadcasting and television, contributing to the development of modern sports media.
• He was honoured by the Connecticut Sports Museum and Hall of Fame in 1997.
• He was inducted into the Rutgers University Wall of Fame in 2002.
• He was inducted into the DePauw University Media Wall of Fame in 2012.
• He was inducted into the Sports Broadcasting Hall of Fame in 2025, recognising his contribution to sports television.
• He was named among The Sports 100 and was honoured by USA Today in 1994 as the “Father of Sports Television.”
• He was also featured in Sports Illustrated’s “Forty for the Ages” in 1994.
• Rasmussen authored the books “Sports Junkies Rejoice! The Birth of ESPN” and “ESPN: One Giant Leap for Fankind” (2023).
• In 2026, he later collaborated on the “Sports Heaven: The Birth of ESPN” documentary and book project, further documenting the origins of ESPN.

CURRENT AFFAIRS: IMPORTANT DAYS

Sadbhavana Diwas 2026 Observed on August 20

• Sadbhavana Diwas is observed annually on August 20 to commemorate the birth anniversary of former Prime Minister Rajiv Gandhi.
• The term “Sadbhavana” means goodwill, harmony and friendly relations.
• The day aims to promote national integration, communal harmony, peace and emotional unity among people belonging to different castes, religions, regions and linguistic communities.
• Rajiv Gandhi was born on August 20, 1944, and served as the Prime Minister of India from 1984 to 1989.
• Sadbhavana Diwas is marked through cultural programmes, awareness activities, competitions and tributes to Rajiv Gandhi across different parts of the country.
• The observance also encourages citizens to work towards peaceful coexistence, social harmony and resolution of differences through dialogue and constitutional means.
• A Sadbhavana Diwas Pledge is administered to reaffirm the commitment towards emotional unity and harmony among all people of India, irrespective of caste, region, religion or language.

World Mosquito Day 2026 Observed on August 20

• World Mosquito Day is observed annually on August 20 to raise awareness about malaria and other mosquito-borne diseases and promote measures for their prevention and control.
• The day commemorates the discovery made by Sir Ronald Ross on August 20, 1897, when he established that female mosquitoes transmit malaria parasites to humans.
• Sir Ronald Ross, a British physician and scientist, received the Nobel Prize in Physiology or Medicine in 1902 for his work on malaria.
• World Mosquito Day was established in 1897 in recognition of Sir Ronald Ross’s discovery and his contribution to malaria research.
• Mosquitoes transmit several diseases, including malaria, dengue, chikungunya, yellow fever, Japanese encephalitis and lymphatic filariasis.
• According to the World Health Organization (WHO), mosquito-borne diseases continue to cause a significant global public health burden, particularly in tropical and subtropical regions.
• Lymphatic filariasis, commonly known as elephantiasis, is a mosquito-borne neglected tropical disease that can cause long-term disability and swelling of affected body parts.
• August 20 is also an occasion to recognise the contribution of scientists, healthcare professionals and public health workers involved in combating malaria and other vector-borne diseases.

Akshay Urja Day 2026 – Promoting Renewable Energy and Sustainable Development

• Akshay Urja Day is observed annually on 20 August in India to create awareness about renewable energy and promote the adoption of sustainable energy sources.
• The term “Akshay Urja” means “inexhaustible energy” and refers to naturally replenished sources such as solar energy, wind energy, hydropower, biomass and geothermal energy.
• The day aims to highlight the role of renewable energy in addressing climate change, reducing dependence on conventional energy sources and achieving sustainable development.
• It encourages individuals, industries and institutions to adopt clean and sustainable energy solutions and promotes awareness about energy conservation among students and youth.
• The Ministry of New and Renewable Energy plays a key role in promoting renewable energy awareness and coordinating related activities across the country.
• 20 August is also the birth anniversary of former Prime Minister Rajiv Gandhi.
• Various activities such as renewable energy exhibitions, seminars, workshops, awareness rallies, street plays and demonstrations of solar and wind technologies are organised to promote awareness about clean energy.

World Breastfeeding Week 2026 Observed from August 1 to 7

• World Breastfeeding Week (WBW) is observed annually from August 1 to 7 to promote the importance of breastfeeding for the health, nutrition and well-being of infants and children.
• World Breastfeeding Week 2026 Theme: “Breastfeeding for a sustainable start in life: strengthen what works.”
• The 2026 observance focuses on strengthening effective breastfeeding practices and highlighting their contribution to sustainable health and nutrition outcomes.
• World Breastfeeding Week is observed in more than 120 countries and is coordinated globally by the World Alliance for Breastfeeding Action (WABA) in collaboration with the World Health Organization (WHO) and the United Nations Children’s Fund (UNICEF).
• The World Alliance for Breastfeeding Action (WABA) was established on 14 February 1991, and the first World Breastfeeding Week was observed in 1992.
• The World Health Organization (WHO) and the American Academy of Pediatrics (AAP) recommend exclusive breastfeeding for the first six months of life, followed by continued breastfeeding along with complementary foods.
• The World Health Assembly (WHA) endorsed World Breastfeeding Week in 2018 as an important platform for promoting breastfeeding and improving the welfare of infants and children.

World Fintech Day 2026 Observed on August 1

• World Fintech Day is observed annually on August 1 to celebrate the evolution of Financial Technology (FinTech) and its role in transforming the global financial ecosystem.
• World Fintech Day 2026 was hosted by the Türkiye Fintech Association in Istanbul, Türkiye, bringing together fintech leaders, innovators and stakeholders from the international fintech community.
• The theme of World Fintech Day 2026 is “Potential to Impact: Trusted, Connected, Global Systems for Inclusive Finance.”
• The 2026 theme focuses on building trusted, connected and globally integrated financial systems that promote financial inclusion through technological innovation.
• August 1 is associated with Cosimo de’ Medici, who died on August 1, 1464, and is regarded as an important pioneer in the development of modern banking practices during the Renaissance period.
• Cosimo de’ Medici contributed to the development of structured banking and credit-based financial transactions, which influenced the evolution of modern financial systems.
• World Fintech Day highlights the transformation of financial services through technologies such as digital payments, electronic transactions, financial data systems and other digital financial innovations.

Daily CA One- Liner: August 21

• Union Home Minister Amit Shah will chair the 31st Southern Zonal Council meeting at Kovalam near Mahabalipuram, Tamil Nadu
• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the upgradation of the 82.578-kilometre Muzaffarpur–Sitamarhi–Sonbarsa section of National Highway 22 (NH-22) to four-lane standards in Bihar
• Cotton Corporation of India Limited (CCI), a Public Sector Undertaking under the Ministry of Textiles, celebrated its 56th Foundation Day at Chhatrapati Sambhajinagar, Maharashtra
• Pradhan Mantri Viksit Bharat Rojgar Yojana (PM-VBRY), the Centre’s employment-linked incentive scheme, completed one year of implementation in August 2026
• The Odisha Government signed a tripartite agreement with Digital Bharat Nidhi, Department of Telecommunications and Bharat Sanchar Nigam Limited for implementing the ₹3,384.82 crore amended BharatNet programme in the state
• Shah Rukh Khan has emerged as India’s most valuable celebrity brand with a brand value of USD 177.9 million, according to the Celebrity Brand Valuation Report 2025 by Kroll
• The 65th Subroto Cup International Football Tournament 2026 commenced at B. R. Ambedkar Stadium, New Delhi
• Prashant Agrawal, a 1998-batch Indian Foreign Service (IFS) officer, has authored the book “Bringing the Cheetah Back to India: How Diplomacy Made Conservation’s Big Mission Possible.”
• During FY 2025–26, Regional Rural Banks (RRBs) continued to strengthen rural economic development and financial inclusion by expanding credit delivery and maintaining a strong focus on Priority Sector Lending (PSL).
• The credit rating agency in India, ICRA Limited has estimated India’s real Gross Domestic Product (GDP) growth at 7% for Q1 FY27 (April–June 2026).
• Jammu & Kashmir Bank Limited (J&K Bank) has signed a Corporate Agency Agreement (CAA) with HDFC Life Insurance Company Limited (HDFC Life) to offer a wide range of customer-centric insurance products.
• India's foreign exchange (forex) reserves increased by $6.12 billion to $682.35 billion in the week ended July 24, 2026, according to data released by the Reserve Bank of India (RBI).
• Razorpay, a leading Indian fintech company, has launched “Razorpay Vulcan”, India’s first Artificial Intelligence (AI)-powered payments foundation model.
• The Reserve Bank of India (RBI) has proposed to harmonise and standardise the regulatory framework for interest rates on advances across all Regulated Entities (REs) to improve loan-pricing transparency and strengthen consumer protection.
• The Ministry of Commerce and Industry (MoCI) released India’s foreign trade data for July 2026 and April–July 2026-27.
• The Supreme Court of India directed the Centre, States, Reserve Bank of India (RBI) and telecom authorities to strengthen measures against “digital arrest” scams and cyber fraud.
• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released the Monthly Bulletin of the Periodic Labour Force Survey (PLFS) for July 2026.
• The Indian Army (IA) contingent has departed for Thailand to participate in the 15th edition of India-Thailand Joint Military Exercise MAITREE-XV (2026).
• Union Defence Minister Rajnath Singh flagged off the All India Girls High Altitude Long Trek “Aparajita – Parang La 2026”, a flagship adventure activity of the National Cadet Corps (NCC), in New Delhi, Delhi.
• The Ministry of Defence (MoD), through the Department of Defence Production (DDP), has notified the 6th Positive Indigenisation List (PIL) comprising 405 strategically important defence items.
• The Competition Commission of India (CCI) approved Tata Steel Limited’s acquisition of an additional 23% equity stake in TM International Logistics Limited (TMILL).
• William F. Rasmussen, the co-founder of ESPN (Entertainment and Sports Programming Network), passed away at the age of 93 in Seattle, Washington,the United States of America (USA).
• Sadbhavana Diwas is observed annually on August 20 to commemorate the birth anniversary of former Prime Minister Rajiv Gandhi
• World Mosquito Day is observed annually on August 20 to raise awareness about malaria and other mosquito-borne diseases and promote measures for their prevention and control
• Akshay Urja Day is observed annually on 20 August in India to create awareness about renewable energy and promote the adoption of sustainable energy sources
• World Breastfeeding Week (WBW) is observed annually from August 1 to 7 to promote the importance of breastfeeding for the health, nutrition and well-being of infants and children
• World Fintech Day is observed annually on August 1 to celebrate the evolution of Financial Technology (FinTech) and its role in transforming the global financial ecosystem