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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Issues Basel III-Based Minimum Capital Requirement Directions for Commercial Banks’ Market Risk

• The Reserve Bank of India (RBI) has issued the “Commercial Banks – Minimum Capital Requirements for Market Risk Directions, 2026” to align India’s market-risk framework with the revised Basel III standards.
• The new directions will come into effect from 1 April 2027, while transition scalars have already been applicable from 1 April 2024.
• The directions will apply to all commercial banks, except Small Finance Banks (SFBs), Payments Banks and Local Area Banks (LABs).

Key Highlights :

• The framework covers three major market-risk classes: Interest-Rate Risk, Equity Risk and Foreign-Exchange Risk.
• Banks will use the Simplified Standardised Approach (SSA) to calculate market-risk capital requirements under the revised Basel III framework.
• Under the SSA, Risk-Weighted Assets (RWA) for market risk will be calculated by multiplying the calculated capital requirement by 12.5.
• The RBI has clarified the boundary between the Trading Book and Banking Book for capital-adequacy purposes, with the trading book including instruments classified as Held for Trading (HFT).
• Banks will not be permitted to shift or reclassify instruments between the trading book and banking book merely to obtain lower capital requirements through regulatory arbitrage.
• If a bank reclassifies an instrument from the trading book to the banking book, it must determine the total capital requirement before and after reclassification and maintain the resulting difference in capital requirement.
• Banks will have to meet their market-risk capital requirements continuously, including at the close of each business day.
• The RBI has revised the treatment of interest-rate risk, debt mutual funds/ETFs and credit-derivative-hedged positions, including Total Return Swaps (TRS), in line with Basel Committee on Banking Supervision (BCBS)
• Banks may hedge risks in the banking book either through a direct external hedge or through internal risk transfer.
• Banks may exclude certain structural foreign-currency investments from the calculation of Net Open Position (NOP) on both standalone and consolidated bases, subject to prescribed conditions.
• The exclusion of eligible structural foreign-exchange positions from NOP can be made on a case-to-case basis, but the position must generally remain excluded for at least six months.
• Banks must recalculate eligible structural exemptions on a quarterly basis to ensure continued compliance with the prescribed criteria.
• The RBI had first introduced the proposed framework in April 2023, with the proposal to adopt the Simplified Standardised Approach for market-risk capital requirements under the revised Basel III framework.

Moody’s Upgrades India’s FY27 Growth Domestic Product Growth Forecast to 7%

• Moody’s Ratings raised India’s real Growth Domestic Product (GDP) growth forecast for Financial Year 2026-27 (FY27) to 7% from 6% earlier, citing the economy’s resilience to global shocks amid the West Asia conflict.
• Moody’s retained India’s sovereign credit rating at Baa3 with a Stable outlook.
• India’s GDP grew 7.8% in Q1 FY27, exceeding the 7% growth estimate by the RBI.
• India’s real GDP growth accelerated to 8.2% year-on-year in the first half of CY2026, compared with 7.3% growth in CY2025.
• The 8.2% growth in H1 CY2026 was supported by stronger private consumption, robust gross fixed capital formation, continued public infrastructure spending, a potential revival in private investment and sustained strength in the services sector.
• Moody’s projected India’s FY27 inflation at 4.8%, significantly higher than 2.4% in FY26.
• The main inflation risks identified by Moody’s include elevated crude oil prices and food-price pressures linked to El Niño conditions.
• Higher energy prices and possible El Niño-related disruptions could affect consumption and overall economic growth.
• JCR recently upgraded India’s sovereign rating to A-, citing solid economic growth and a strong financial system.

Central Bureau of Narcotics and Brahma Kumaris Sign Memorandum of Understanding to Promote Drug Awareness, Youth Empowerment and Community Outreach

• Central Bureau of Narcotics (CBN), Department of Revenue, Ministry of Finance, and Prajapita Brahma Kumaris Ishwariya Vishwa Vidyalaya signed an MoU on 18 September 2026 at Mount Abu, Rajasthan to strengthen preventive drug awareness, youth empowerment, and community outreach.
• The initiative supports the vision of Nasha Mukt Bharat (Drug-Free India) and contributes to the objectives of the Nasha Mukt Bharat Abhiyaan through preventive awareness, youth engagement, and community participation.

Key Highlights :

• The MoU establishes a framework for planning, implementing, and evaluating drug-awareness campaigns, youth-empowerment initiatives, and community outreach programmes, with focus on Madhya Pradesh, Rajasthan, Uttar Pradesh, and Delhi.
• Activities under the MoU include seminars, symposiums, workshops, multimedia exhibitions, awareness rallies, poster-design competitions, and digital awareness programmes under CBN’s Yuva Raksha initiative.
• Special focus will be given to schools, colleges, universities, hostels, coaching hubs, vocational training institutes, rural communities, and youth in agricultural and traditional cultivation areas.
• Brahma Kumaris will support the programme through its centres, volunteers, instructors, spiritual counsellors, seminar venues, and digital platforms, while promoting the Yuva Raksha

Reserve Bank of India Expands Bharat Connect Forex Services to Five Additional Currencies

• Reserve Bank of India (RBI) Deputy Governor Rohit Jain launched the multicurrency foreign exchange service on Bharat Connect at the Global Fintech Fest 2026 in Mumbai, expanding its retail forex services beyond the existing US Dollar (USD).
• The new Bharat Connect forex facility adds five currencies: Euro (EUR), British Pound (GBP), Canadian Dollar (CAD), Swiss Franc (CHF) and UAE Dirham (AED), in addition to US Dollar (USD).
• Bharat Connect is operated by NPCI Bharat BillPay Limited (NBBL) and has integrated with FX-Retail, operated by Clearcorp Dealing Systems (India) Limited, a wholly owned subsidiary of The Clearing Corporation of India (CCIL).
• Through participating Bharat Connect channels, customers can purchase foreign currency, make overseas remittances and reload forex cards.
• The platform provides live foreign-exchange rates and pricing through FX-Retail, while transaction fulfilment continues through the customer’s relationship bank.
• Customers can link multiple relationship banks to their Forex Retail profile and select the preferred bank for fulfilling a transaction, providing greater flexibility to customers with multiple banking relationships.
• The multicurrency facility is designed to meet foreign-exchange requirements related to international travel, education, business and international payments.
• Bharat Connect’s existing forex service recorded transactions exceeding ₹100 million in value between April and July 2026.
• During the soft launch, the service was made available through participating channels including MobiKwik, BHIM, bob World, Punjab National Bank, Federal Bank, State Bank of India and Axis Bank.
• The participating fulfilment banks include Punjab National Bank, State Bank of India, Axis Bank, Bank of Baroda and Federal Bank.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Delhi Town Hall Complex in Chandni Chowk to be Redeveloped as Global Heritage Centre

• The historic Town Hall complex in Chandni Chowk, Delhi, will be redeveloped as a Global Heritage Centre, following a Memorandum of Understanding (MoU) signed between the Delhi Government and the Municipal Corporation of Delhi (MCD).
• The MoU aims to conserve the Grade-I heritage property and develop it for tourism and cultural activities.
• The project covers the Town Hall, Press Building and Park, which form part of the historic areas of Chandni Chowk and Shahjahanabad.

Key Highlights

• The Grade-I heritage complex was constructed between 1860 and 1866.
• The Municipal Corporation of Delhi headquarters functioned from the complex for a long period before being shifted in 2010 to the new Dr. S. P. Mukherjee Civic Centre on Minto Road.
• The Memorandum of Understanding was signed in the presence of Chief Minister Rekha Gupta at the Delhi Secretariat.
• The complex covers an area of around 12,180 square metres in the historic Chandni Chowk and Shahjahanabad areas.
• The proposed Global Heritage Centre will include a museum and facilities for cultural and tourism activities.
• Located near Chandni Chowk and Old Delhi Railway Station, the complex will provide domestic and international visitors an opportunity to experience Delhi’s history, heritage and culture within a single complex.
• The Tourism Department has been tasked with conducting surveys, structural assessment and preparation of a Detailed Project Report (DPR) for the redevelopment.

Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes Approves Investment Plans Worth Over ₹735 Crore

• The Government of India approved Strategic Investment Plans (SIPs) with an aggregate project outlay of over ₹735 crore for Industrial Training Institute (ITI) clusters in Rajasthan, Uttar Pradesh and Telangana.
• The approved investment plans include:
• Rajasthan – ₹241 crore
• Uttar Pradesh – over ₹240 crore
• Telangana – ₹254 crore
• The approvals were given during the 5th National Steering Committee (NSC) meeting of the Pradhan Mantri Skilling and Employability Transformation through Upgraded Industrial Training Institutes (PM-SETU) scheme.

Key Highlights

• The meeting was held under the chairpersonship of Debashree Mukherjee, Secretary, Ministry of Skill Development and Entrepreneurship.
• According to the Ministry of Skill Development and Entrepreneurship, the latest approvals have taken the total sanctioned investment under PM-SETU to ₹2,171 crore across 9 ITI clusters.
• PM-SETU is a flagship scheme of the Central Government aimed at transforming the ITI ecosystem through industry partnerships, modern infrastructure, upgraded training programmes and improved employability outcomes.

Rajasthan to Develop 39 Food Parks under Rajasthan Food Park Development Policy 2026

• The Rajasthan Government plans to establish 39 food parks across the state under the Rajasthan Food Park Development Policy-2026.
• Land has already been allocated at 35 locations for the proposed food parks.
• Manju Rajpal, Principal Secretary, Agriculture and Horticulture, stated that Rajasthan currently has agricultural-processing infrastructure comprising 2 mega food parks, 4 agro-processing clusters and 6 Rajasthan State Industrial Development and Investment Corporation (RIICO)/spice parks.

Key Highlights

• Rajasthan currently has more than 1,500 agro-processing units and over 1,850 micro food-processing units supported under the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Scheme.
• The policy covers agro-processing industries dealing with fruits and vegetables, spices, grains, oilseeds, pulses, medicinal products, minor forest produce, honey, dairy and animal feed.
• Work is underway to develop 10 agro-processing clusters based on moong, mustard, soybean, kinnow, pomegranate, guava, orange, isabgol, cumin and garlic.
• Shweta Chauhan, Horticulture Commissioner, stated that 7 of the proposed 10 clusters are eligible under the Cluster Development Programme of the National Horticulture Board.
• Concept proposals for 3 clusters based on guava, pomegranate and cumin have already been submitted.
• 4 clusters based on isabgol, kinnow, garlic and orange are proposed to be taken up in the next phase.
• Work is also underway to promote clusters based on mustard, soybean and moong through food parks, investment agreements and State Government schemes.

Prime Minister Narendra Modi to Launch Development Projects Worth Over ₹35,000 Crore in Gujarat and Inaugurate Global Fintech Fest 2026 in Mumbai

• Prime Minister Narendra Modi will visit Gujarat and Maharashtra.
• The Prime Minister will lay foundation stones, inaugurate and dedicate to the nation various development projects worth more than ₹35,000 crore in Vadodara, Gujarat, and address the gathering.
• He will inaugurate the Global Fintech Fest (GFF) 2026 in Mumbai, Maharashtra, and address the gathering.

Key Highlights

• The Prime Minister will lay the foundation stone for three National Highway projects costing around ₹1,780 crore.
• The National Highway projects include:
• Six-laning of the Kamrej–Chalthan section of National Highway 48
• Construction of additional structures, including major bridges over the Tapi and Narmada rivers, on the Vadodara–Surat section of National Highway 48
• Construction of grade-separated structures at Abhava, Mindhola and Khajod junctions on National Highway 53
• The Prime Minister will also lay the foundation stone for and inaugurate various Government of Gujarat projects worth around ₹2,600 crore.
• Major projects for which the foundation stone will be laid include the Vadodara Urban Development Authority Ring Road Phase II, a 110 Megawatt floating solar project at Kadana Dam and construction of a new office of the Vadodara Municipal Corporation, among others.
• Projects to be inaugurated include housing projects under the Pradhan Mantri Awas Yojana (PMAY) and a water-supply project for 11 villages in eastern Vadodara, among others.
• In Mumbai, Prime Minister Narendra Modi will inaugurate the Global Fintech Fest (GFF) 2026, described as one of the world’s largest and most influential annual fintech conferences.
• The 7th edition of the Global Fintech Fest is being held from 8 to 11 September 2026 in Mumbai.
• Since 2020, the Global Fintech Fest has emerged as an international thought-leadership platform bringing together policymakers, regulators, central banks, financial institutions, fintech companies, technology companies, investors, academia and other global stakeholders to discuss the future of finance.
• The theme of Global Fintech Fest 2026 is “Potential to Impact: Agentic Artificial Intelligence, Tokenisation, Quantum - Trusted, Connected, Global Systems for Inclusive Finance.”
• Global Fintech Fest 2026 has been designed as a convergence platform for policy, regulation, technology, capital and industry.

CURRENT AFFAIRS : INTERNATIONAL NEWS

External Affairs Minister S. Jaishankar Reaffirms India’s Commitment to Bhutan’s Development Goals and Priorities

• External Affairs Minister (EAM) Dr. S. Jaishankar undertook a 3-day official visit to Bhutan from 16–18 September 2026, at the invitation of Bhutanese Foreign Minister N. Dhungyel, to review India-Bhutan bilateral cooperation.
• Dr. S. Jaishankar held talks with King Jigme Khesar Namgyel Wangchuck, Prime Minister Dasho Tshering Tobgay, and Foreign Minister D.N. Dhungyel on development, energy, connectivity, and bilateral cooperation.
• Five major development initiatives were launched/inaugurated, covering healthcare, connectivity, agriculture, clean mobility, and energy.
• The 65-bedded Gyaltsuen Jetsun Pema Mother and Child Hospital was inaugurated in Mongar, Bhutan, strengthening healthcare cooperation.
• The Jaganathan Bridge on the Samdrup Jongkhar–Trashigang Highway was inaugurated to strengthen connectivity.
• India transferred 43 Jersey cows to the National Cattle Breeding Centre, Bumthang, supporting agriculture and livestock development.
• India handed over 54 electric vehicles (EVs) to the Government of Bhutan, promoting clean mobility.
• The foundation stone was laid for the 500-kilowatt Lunana Hydropower Project, strengthening bilateral renewable-energy cooperation.
• India and Bhutan reviewed the Joint Vision on Energy Partnership, signed in March 2024, and welcomed progress in bilateral hydropower cooperation.
• The 1,020 MW Punatsangchhu-II Hydroelectric Project (HEP) was highlighted as a major achievement in India-Bhutan energy cooperation.
• Construction of the 1,200 MW Punatsangchhu-I HEP resumed, and its Tariff Protocol was also signed.
• India and Bhutan signed an agreement for a concessional Line of Credit (LoC) of ₹4,000 crore for energy projects in Bhutan, aimed at supporting hydropower and infrastructure development.
• Both sides welcomed the active participation of Indian companies in Bhutan’s hydropower projects, giving further momentum to bilateral energy cooperation.
• A UPI-based digital payment facility was operationalised, enabling Bhutanese nationals to make digital payments in India using Bhutanese mobile applications, strengthening India-Bhutan fintech and digital-payment cooperation.

India Depends on China for Core Electronic Components Across 71 Product Lines

• China supplied at least 80% of India’s imports across 71 electronics product lines in 2025–26, with dependence concentrated mainly in core components such as motors, cables and switching equipment rather than finished goods.
• The number of electronics product lines with 80% or more dependence on China increased from 44 in 2018–19 to 71 in 2025–26, representing an increase of more than 60%.
• The study was jointly released by the Koan Advisory Group and the Institute of Chinese Studies and examines India–China bilateral trade at the product-line level.
• The study initially focuses on Electrical and Electronic Equipment under HS Chapter 85; the Harmonized System (HS) is an internationally standardised system for classifying traded goods.
• HS Chapter 85 covers electrical machinery and electronic equipment, including important components used across telecom, consumer electronics and industrial machinery.
• Out of the 71 tariff lines, 46 crossed the 80% China-dependence threshold only after 2018–19, indicating that India’s import concentration has increased over time.
• India’s dependence on China is concentrated in a narrow range of upstream and core components that support telecom infrastructure, consumer electronics and industrial machinery.
• The report described India’s trade imbalance with China as structural rather than cyclical, with the trade deficit remaining concentrated in major HS chapters and continuing to widen.
• India’s overall trade deficit with China reached US$112.1 billion in 2025–26.
• Electrical machinery accounted for US$43.1 billion of the India–China trade deficit, representing approximately 38% of the total deficit.
• Lithium-ion batteries emerged as a major area of dependence, with India’s imports from China more than doubling since 2021–22 to US$3.9 billion.
• China’s share of India’s lithium-ion battery imports reached 83.6% in 2025–26, crossing the 80% dependence threshold for the first time.
• China supplied 48.9% of India’s semiconductor imports in 2025–26, although its share declined from around 64% in the previous year.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Nobel Laureate Michael Kremer Appointed as Next World Bank Chief Economist

• Michael Kremer, a Nobel Prize-winning economist and University of Chicago professor, has been appointed as the next Chief Economist of the World Bank.
• He will assume office on 1 October 2026, succeeding Indermit Gill, who retired recently.

About Michael Kremer :

• Michael Kremer, aged 61, will lead the World Bank Group’s economic research and advise on economic policy and development strategies.
• Kremer received the 2019 Nobel Prize in Economic Sciences jointly with Abhijit Banerjee and Esther Duflo for their experimental approach to alleviating global poverty.
• He will be the first World Bank Chief Economist to join the institution as a Nobel laureate; other Nobel laureates such as Joseph Stiglitz and Paul Romer received the Nobel Prize after serving as Chief Economists.
• He also serves as Director of the University of Chicago’s Development Innovation Lab and has been a Research Associate with the National Bureau of Economic Research (NBER).
• Kremer is known for using rigorous experimental research to develop evidence-based solutions to real-world development problems.
• His research on deworming schoolchildren showed reduced absenteeism and contributed to governments in Africa and South Asia providing around 2 billion treatments since 2014.
• He has also worked on AI-based agricultural weather forecasting and co-founded Precision Development, which uses digital technology to improve productivity and incomes of smallholder farmers.
• In 2010, Kremer co-founded Development Innovation Ventures, a fund administered by the US Agency for International Development (USAID).
• Kremer received a MacArthur “Genius Grant” in 1997 and is a member of the National Academy of Sciences and a fellow of the American Academy of Arts and Sciences.
• In 2024, at a World Bank event titled “The Great Incoherence: Growth and Human Development in an Era of Stagnation,” Kremer called for reforms supporting innovative pilot projects and research into new technologies to achieve development goals.

CURRENT AFFAIRS: AWARDS AND HONOURS

Naga Film Angh Wins Platform Prize 2026 at Toronto International Film Festival

• Angh, directed by Naga filmmaker Theja Rio, won the prestigious Platform Prize 2026 at the Toronto International Film Festival (TIFF), marking a historic first.
• Angh was one of 12 films selected for the 2026 Platform programme, which is the only competitive section of the Toronto International Film Festival.
• Beginning with the 2026 prize, winning the Toronto International Film Festival Platform Prize provides a non-English-language film with a direct pathway to eligibility for consideration for the Academy Award for Best International Feature Film.

Key Highlights

• Announcing the award, Jury President Pablo Trapero praised Angh for its refreshing perspective, strength of filmmaking and deeply resonant portrait of a world.
• The jury also commended Theja Rio for his vision, audacity and courage.
• The Platform programme of the Toronto International Film Festival champions films featuring bold directorial vision and distinctive storytelling.
• The Platform Prize carries a cash award of 20,000 Canadian dollars along with a trophy.
• The 2026 Platform Prize jury comprised Pablo Trapero, Amma Asante, Sylvia Chang, Luc Déry and Albert Lee.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Bharat Heavy Electricals Limited and Titagarh Rail Systems Sign Joint Venture Agreement for Vande Bharat Sleeper Trainsets

• Bharat Heavy Electricals Limited and Titagarh Rail Systems Limited signed a Joint Venture Agreement to establish a 50:50 Joint Venture Company for the comprehensive maintenance of the supplied Vande Bharat Sleeper Trainsets.

Key Highlights

• On behalf of Bharat Heavy Electricals Limited, the agreement was signed by Shyamala Venkataraman, Executive Director (CTM, CSM and CC), while Anil Kumar Agarwal, Deputy Managing Director, signed on behalf of Titagarh Rail Systems Limited.
• Earlier, the Bharat Heavy Electricals Limited-Titagarh Rail Systems Limited consortium secured an order from Indian Railways for the supply of 80 Vande Bharat Sleeper Trainsets, along with their comprehensive maintenance for 35 years.
• The Joint Venture Company will utilise the combined technical expertise and capabilities of Bharat Heavy Electricals Limited and Titagarh Rail Systems Limited for the long-term lifecycle maintenance of the supplied trainsets.
• The comprehensive maintenance arrangement is intended to ensure the operational readiness, safety and reliability of the Vande Bharat Sleeper Trainsets throughout their entire 35-year service life.
• Bharat Heavy Electricals Limited is one of India's major engineering and manufacturing enterprises, with decades of experience across sectors including power, transportation, defence and aerospace.

Central Industrial Security Force and Indian Institute of Technology Kanpur Sign Agreements to Strengthen Cyber Security and Drone Technology

• The Central Industrial Security Force signed two Memoranda of Understanding with the Indian Institute of Technology Kanpur to strengthen its capabilities in cyber security and drone and anti-drone technology for protecting critical and strategic infrastructure.
• The two agreements provide for a six-week residential Cyber Security Training Programme through C3iHub, Indian Institute of Technology Kanpur, and the establishment of a Centre of Excellence in Drone and Anti-Drone Technology at the Central Industrial Security Force's MPRTC, Behror, Rajasthan.

Key Highlights

• These initiatives are aimed at developing specialised capabilities within the Central Industrial Security Force to address emerging technology-driven security threats.
• Under the first Memorandum of Understanding, IHUB NTIHAC Foundation (C3iHub), Indian Institute of Technology Kanpur, will conduct a six-week residential Cyber Security Training Programme under a three-year framework.
• The cyber security training programme will be conducted on a non-commercial basis without any training fee.
• Each batch will consist of 40 nominated Central Industrial Security Force personnel.
• The cyber security partnership is aligned with the vision outlined by Prime Minister Narendra Modi at the Directors General of Police/Inspectors General of Police Conference 2024 and the directions of the Union Home Minister regarding the development of cyber-capable security forces.
• The initiative also supports the strengthening of dedicated Cyber Commando capabilities in Central Armed Police Forces and state police organisations.
• The cyber security Memorandum of Understanding was signed on behalf of the Central Industrial Security Force by Senthil Avoodai Krishna Raj S., Indian Police Service, Inspector General, Central Industrial Security Force Airport Sector-I, and by Dr Tanima Hajra, Chief Executive Officer, C3iHub.
• Prof Surender Baswana, Programme Director; Dr Ras Dwivedi, Chief Technology Officer; Dr Anand Handa, Chief Security Officer; and Ajaya Kumar Misra, Chief Financial Officer were also present during the signing.
• Under the second Memorandum of Understanding, the Central Industrial Security Force and the Indian Institute of Technology Kanpur will collaborate under a five-year framework to establish and develop a Centre of Excellence in Drone and Anti-Drone Technology at the Central Industrial Security Force's MPRTC in Behror, Rajasthan.
• The second Memorandum of Understanding was signed by Dr C. Dhananjaya Naik, Deputy Inspector General, Central Industrial Security Force MPRTC, Behror, and Prof Jayandharan G. Rao, Dean, Research and Development, Indian Institute of Technology Kanpur.
• The agreements further expand the Central Industrial Security Force's institutional partnerships with premier academic and technology organisations, including Indian Institute of Technology Madras (Pravartak), Indian Institute of Technology Ropar, Indian Institute of Information Technology Design and Manufacturing Kancheepuram, Indian Institute of Technology Kanpur and Drone Federation of India.

CURRENT AFFAIRS : DEFENCE NEWS

India and Sri Lanka Conduct 13th Annual Bilateral Maritime Exercise SLINEX-26

• SLINEX-26 (Sri Lanka–India Naval Exercise 2026) is the 13th edition of the annual bilateral maritime exercise between the Indian Navy (IN) and Sri Lanka Navy (SLN).
• SLINEX-26 was conducted from 17–21 September 2026 in Visakhapatnam, Andhra Pradesh, under the aegis of the Eastern Naval Command of the Indian Navy.
• SLINEX stands for Sri Lanka–India Naval Exercise and was conceptualised in 2005 as a platform for strengthening bilateral maritime cooperation.
• The 12th edition, SLINEX-25, was conducted from 14–18 August 2025 in Colombo, Sri Lanka.
• The Indian Navy participated with INS Kavaratti, an indigenously built Anti-Submarine Warfare (ASW) Corvette, and INS Jyoti, a Fleet Tanker.
• The Sri Lanka Navy participated with SLNS Sindurala.
• The exercise was conducted in two phases — Harbour Phase and Sea Phase.
• The Harbour Phase included professional interactions, cross-deck visits, sharing of best practices, Yoga, sports, and cultural activities.
• The Sea Phase focused on enhancing operational synergy and interoperability through coordinated maritime activities at sea.
• The exercise aligns with India’s MAHASAGAR vision, which stands for “Mutual and Holistic Advancement for Security and Growth Across Regions.”

Ministry of Defence Signs ₹586 Crore Contract for Auxiliary Power Units for T-72 and T-90 Tanks

• The Ministry of Defence (MoD) signed a ₹586 crore contract with Accurate Industrial Controls Private Limited on 21 September 2026 in New Delhi to procure Auxiliary Power Units (APUs) for T-72 and T-90 tanks.
• The contract was signed in the presence of Defence Secretary Shri Rajesh Kumar Singh.
• An Auxiliary Power Unit (APU) provides an alternate source of electric power for the tank’s fire-control system, firing circuit, gun-stabilisation system, and other ancillary systems.
• The procurement is a significant step towards the indigenisation of critical sub-systems of armoured platforms and demonstrates industry-led research and development under the Make-II route.
• Under the Make-II route, the private industry undertakes design and development without government funding, helping translate indigenous innovation into production and induction.
• The Indian Army’s estimated overall requirement is around 3,257 APUs, comprising approximately 1,657 for T-90 tanks and 1,600 for T-72 tanks; the current contract covers part of this requirement.
• The Acceptance of Necessity (AoN) for the APU requirement was accorded by the Ministry of Defence in October 2019 after feasibility studies.
• The procurement supports the Army’s efforts to maintain the combat capability of its ageing armoured fleet while next-generation platforms under the Future Ready Combat Vehicle (FRCV) programme are being developed.
• The Indian Army operates around 2,400 T-72 Ajeya tanks, which are planned for eventual replacement under the FRCV programme, and around 1,300 T-90S Bhishma tanks, in addition to 464 T-90 Mk 3 tanks ordered in 2019.
• The contract is aligned with the Government’s vision of Viksit Bharat @2047 and contributes to Aatmanirbharta in Defence by promoting a resilient, self-reliant, and globally competitive Indian defence industry.

India–Mongolia Joint Military Exercise NOMADIC ELEPHANT Begins in Pithoragarh

• The 18th edition of India–Mongolia Joint Military Exercise NOMADIC ELEPHANT 2026 commenced on 21 September 2026 at the Foreign Training Node, Pithoragarh, Uttarakhand, and will continue until 3 October 2026.
• NOMADIC ELEPHANT is an annual platoon-level bilateral military exercise between the Indian Army and the Mongolian Armed Forces, conducted alternately in India and Mongolia.
• The 1st edition of NOMADIC ELEPHANT was conducted in 2004 in Mongolia, making it a long-running India–Mongolia defence exercise.
• The 17th edition of the exercise was conducted at Ulaanbaatar, Mongolia, in May–June 2025.
• 45 personnel each from the Indian Army and the Mongolian Armed Forces are participating in the NOMADIC ELEPHANT 2026
• The main objective of the exercise is to enhance the joint military capability of both countries to conduct Counter-Insurgency Operations in semi-urban and mountainous terrain under a United Nations mandate.
• The training curriculum includes Cordon and Search Operations, Room Intervention Drills, Special Heliborne Operations, Cyber Security Training, and the employment of drones and counter-drone systems.
• Cordon and Search Operations involve surrounding an area and systematically searching it to detect and neutralise threats.
• Special Heliborne Operations involve the use of helicopters for rapid insertion, movement or deployment of troops in operational areas.
• Counter-drone systems are used to detect and neutralise unmanned aerial threats, reflecting the growing importance of counter-UAS capabilities in modern warfare.

Suryakiran Aerobatic Team Conducts First-Ever Aerial Display in Meerut

• The Suryakiran Aerobatic Team (SKAT) of the Indian Air Force (IAF) conducted its first aerial display in Meerut on 19–20 September 2026.
• The Meerut Air Display attracted over 1 lakh people, including students, NCC cadets and NSS volunteers, over the two days.
• MoS Defence Sanjay Seth witnessed the air show and highlighted its role in inspiring youth to join the Armed Forces.
• SKAT performed the display using nine red-and-white Hawk Mk 132 aircraft, which are licence-manufactured in India by Hindustan Aeronautics Limited (HAL).
• The major aerobatic manoeuvres performed included the Loop, Barrel Roll, Inverted Flying and DNA Manoeuvre.
• The Hawk Mk 132 aircraft fly in extremely close formation, maintaining a distance of less than 5 metres from each other, demonstrating precision, discipline, coordination and mutual trust.
• The aircraft feature an indigenous coloured-smoke pod modification, allowing them to create the saffron, white and green colours of the Indian national flag in the sky.
• The coloured-smoke modification was developed in India by the Indian Air Force’s Base Repair Depot (BRD), Nashik.
• SKAT was established in 1996 and is the only nine-aircraft aerobatic team in Asia, besides being among the select few such teams in the world.
• SKAT has conducted more than 800 displays across India and has represented the Indian Air Force at international air shows in China, Sri Lanka, Myanmar, Thailand, Singapore, the UAE and Dubai.
• SKAT is known as an “Ambassador of the Indian Air Force”, showcasing the IAF’s professionalism, precision, discipline and dedication while inspiring youth towards careers in the Defence Forces.

Mazagon Dock Shipbuilders Limited Signs Memorandum of Understanding with National Shipbuilding and Heavy Industries Park Maharashtra Limited to Develop Greenfield Shipbuilding Cluster at Dighi Port

• Mazagon Dock Shipbuilders Limited (MDL), a defence Public Sector Undertaking (PSU), signed an Memorandum of Understanding (MoU) with National Shipbuilding and Heavy Industries Park Maharashtra Limited (NSHIPML) to develop a greenfield shipbuilding cluster at Dighi Port, Raigad, Maharashtra.
• The Dighi shipbuilding project involves a proposed investment of around ₹27,000 crore and is planned as India’s largest shipyard.
• The Dighi facility is targeted to achieve an annual shipbuilding capacity of at least 2 million Gross Tonnes (GT).
• Under the MoU, MDL will act as the anchor shipyard and has proposed an investment of about ₹15,000 crore for a capacity of at least 2 million Gross Tonnes per annum.
• The project is expected to generate around 90,000 jobs, comprising approximately 15,000 direct jobs and 75,000 indirect jobs.
• The greenfield shipbuilding cluster is being jointly developed by the Maharashtra Maritime Board and the Mumbai Port Authority through NSHIPML, a special-purpose company created for the project.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Council of Scientific and Industrial Research Launches ‘CSIR SciQuiz’ on MY Bharat Portal to Promote Scientific Awareness

• Council of Scientific and Industrial Research (CSIR), under the Ministry of Science and Technology, in collaboration with the Department of Youth Affairs, Ministry of Youth Affairs and Sports, launched the CSIR Science & Innovation Quiz (CSIR SciQuiz) on the MY Bharat (Mera Yuva Bharat) Portal.
• The CSIR SciQuiz was launched as part of activities marking CSIR’s 85th Foundation Day
• The quiz is being conducted from 20–26 September 2026 and is open to all Indian citizens.
• The quiz consists of multiple-choice questions (MCQs) covering CSIR’s scientific achievements, technologies, innovations, institutions, and contributions to society and the nation.
• The questions cover diverse areas including healthcare, agriculture, environment, infrastructure, energy, aerospace, biotechnology, and strategic technologies.
• The CSIR SciQuiz aims to promote scientific awareness, curiosity, and public engagement with science, particularly among youth.
• Participants have an opportunity to win a day visit to a CSIR laboratory of their interest, providing first-hand exposure to India’s scientific research and innovation ecosystem.
• The CSIR SciQuiz series will continue beyond the September session, with additional quiz sessions planned on the MY Bharat Portal in the coming months.

International Institute of Information Technology-Bangalore and Taipei Computer Association Sign Letter of Intent to Strengthen Cooperation in Artificial Intelligence, Electronics and Smart Technologies

• The International Institute of Information Technology Bangalore (IIIT-Bangalore), Karnataka, and Taipei Computer Association (TCA) signed a Letter of Intent (LOI) at Electronica India 2026 in Bengaluru, Karnataka, to explore cooperation in AI, electronics, smart manufacturing, smart cities, and cybersecurity.
• The agreement marks the first major technology partnership between Taiwan and South India, aimed at strengthening technological cooperation between Taiwan and Karnataka.
• The LOI will lay the foundation for a future Memorandum of Understanding (MoU) covering ICT, digital economy, science and technology, and innovation.
• Taiwan will contribute expertise in electronics, ICT, semiconductors, and hardware manufacturing, while Karnataka offers strengths in software engineering, technology research, and innovation.

About IIIT-Bangalore :

• Established : 1998 as a not-for-profit deemed university focusing on education, research, entrepreneurship, and innovation.
• IIIT-Bangalore is jointly funded by the Government of Karnataka and the Information Technology (IT) industry.

CSIR-Central Road Research Institute to Collaborate with Visakhapatnam Metropolitan Region Development Authority and Greater Visakhapatnam Municipal Corporation for Scientific and Safer Road Development in Visakhapatnam

• CSIR–Central Road Research Institute (CSIR-CRRI), New Delhi, led by its Director Ch. Ravi Sekhar, participated in a high-level meeting at Visakhapatnam Metropolitan Region Development Authority (VMRDA) to develop a scientific road-improvement programme for Visakhapatnam.
• The meeting was convened by Visakhapatnam MP Shri M. Bharath Garu and attended by senior officials from GVMC, VMRDA, and CSIR-CRRI.
• Greater Visakhapatnam Municipal Corporation (GVMC), with support from VMRDA, is planning to upgrade around 228 km of roads across eight Assembly constituencies.
• The proposed road-upgradation programme includes converting existing gravel and Water Bound Macadam (WBM) roads into Black Top (BT) and Cement Concrete (CC) roads.
• The project also includes development of 34 km of central medians, installation of more than 1,550 streetlights, and improvement of key traffic junctions.
• CSIR-CRRI presented technologies and technical expertise relating to flexible pavements, road-performance evaluation, subgrade improvement for weak and waterlogged ground, and urban road safety.
• The proposed cooperation will address bridge assessments, road-project quality control, intelligent road-safety systems similar to i-RASTE, end-to-end pavement solutions, and training of contractors and engineers.
• The cooperation also focuses on “right-to-walk” pedestrian facilities, improved road signs and junction design, and safer urban mobility.
• A modern Road Asset Management System is proposed for systematic management of Visakhapatnam’s road network.
• CSIR-CRRI and GVMC, along with CSIR-CRRI and VMRDA, proposed separate Memoranda of Agreement/Understanding (MoA/MoU) to establish long-term technical cooperation.
• The proposed agreements will apply CSIR-CRRI’s 75 years of road-research expertise to improve the quality, planning, safety, and long-term durability of Visakhapatnam’s roads.

HCLTech Establishes Advanced Semiconductor Laboratory in Bengaluru with ₹185 Crore Investment

• HCLTech has established a state-of-the-art Advanced Semiconductor Lab in Bengaluru with an investment of ₹185 crore, marking a major step in its semiconductor innovation efforts.
• The facility covers 40,000 square feet, including 25,000 square feet of Class 10K and Class 1K cleanrooms.
• The laboratory provides end-to-end post-silicon engineering, advanced semiconductor testing and failure analysis.
• The facility is equipped with advanced tools from Teradyne, Advantest, Keysight, Tektronix and Thermo Fisher Scientific Inc.
• The laboratory supports Research and Development (R&D), pre-production and production qualification, helping achieve faster turnaround, superior quality and reduced complexity for global customers.
• The laboratory is aligned with HCLTech’s Spec2Parts business model, providing a unified platform for electrical validation, automated testing, qualification and failure analysis.
• The Spec2Parts model streamlines the semiconductor journey from design specifications to finished semiconductor parts.

CURRENT AFFAIRS : ENVIRONMENT

New Wild Cat Species Leopardus tilcayo Discovered in Bolivia’s Yungas Cloud Forest After Over 100 Years

• An international team of scientists identified a new wild cat species named Leopardus tilcayo, locally called Tilcayo, from Bolivia’s Yungas cloud forest, marking the first new living feline species formally described in more than 100 years.
• The findings were published on 17 September 2026 in the journal Current Biology.
• Leopardus tilcayo belongs to the tiger cat group, which is found across South America, and was identified as a distinct species through genetic research.
• The Tilcayo measures about 46 centimetres from head to body and weighs around 4 kilograms, making it smaller than an average domestic cat.
• The species has a light-brown coat with irregular dark rosettes.
• Genetic analysis showed that the Leopardus tilcayo lineage diverged from related tiger cats about 1.4 million years ago, supporting its recognition as a separate species.
• The species was found in Bolivia’s Yungas forest, a mountainous, cloud-covered and highly humid
• Researchers retained the local name Tilcayo while giving the species the scientific name Leopardus tilcayo.
• The study found that tiger cats comprise five genetically distinct species, rather than being a single species as previously considered.
• Information on Leopardus tilcayo is currently limited to two live individuals examined by researchers and a small number of camera-trap records.
• One of the examined individuals is a 10-year-old male currently living at Senda Verde Wildlife Sanctuary after previously being kept by a local family.
• The research team also described a new tiger cat subspecies in Peru’s Yungas, named Leopardus tigrinus antisuyo, after Antisuyu, a region of the former Inca Empire.

CURRENT AFFAIRS: SPORTS NEWS

Suchika Tariyal Wins India’s First Asian Games Medal in Mixed Martial Arts

• Suchika Tariyal created history by becoming India’s first Asian Games medallist in Mixed Martial Arts (MMA) after winning the bronze medal in the women’s traditional -60-kilogram category at the Aichi-Nagoya Asian Games.
• Tariyal’s campaign ended in the semifinals, where she suffered a narrow defeat against Hui Hoon Teo of Singapore in a bout that went into overtime.

Key Highlights

• The 36-year-old Suchika Tariyal was visibly distraught after the semifinal decision was announced. However, her bronze medal marked a landmark achievement for Indian Mixed Martial Arts on the continental stage.
• She is a national-level judoka and represented India at the 2022 Commonwealth Games in Birmingham, where she reached the bronze-medal bout.
• She later competed in kurash at the 2023 Asian Games.
• Tariyal subsequently established herself at the top level of Jiu-Jitsu, winning a world title in Fighting Jiu-Jitsu in 2024.
• Mixed Martial Arts is one of six sports making their Asian Games debut at Aichi-Nagoya, along with freestyle BMX, teqball, padel, surfing and virtual taekwondo.

Smriti Mandhana Becomes Leading Run-Scorer in Women’s T20Is

• Smriti Mandhana became the leading run-scorer in women’s Twenty20 Internationals (T20Is), surpassing New Zealand great Suzie Bates’ 4,758 runs during India’s Asian Games semifinal against Bangladesh.
• The 30-year-old left-handed opener needed 7 runs to break the record and reached the landmark in the third over by hitting Bangladesh pacer Marufa Akter for consecutive boundaries off the final two deliveries of the over.
• Mandhana scored 37 runs from 19 balls, including 5 fours and 2 sixes, before her quickfire innings ended on the final ball of the powerplay.

Key Highlights

• The leading women’s T20I run-scorers mentioned in the source are:
• Smriti Mandhana – 4,788 runs
• Suzie Bates – 4,758 runs
• Harmanpreet Kaur – 4,287 runs
• Chamari Athapaththu – 4,282 runs
• Mandhana’s achievement means that India have two batters in the top five of the women’s T20I run-scorers, with Indian captain Harmanpreet Kaur occupying third place.
• Mandhana is also the leading run-scorer in women’s international cricket across all formats.
• She recently surpassed former India captain Mithali Raj’s 10,868 international runs during the Women’s Asia Cup.
• Mandhana now has 10,987 international runs across formats:
• Tests – 788 runs
• One Day Internationals – 5,411 runs
• Twenty20 Internationals – 4,788 runs
• Suzie Bates is third on the all-format women’s international run-scoring list with 10,740 runs.
• Mandhana also holds the record for the most international centuries in women’s cricket, after taking the record outright with a century against Hong Kong, China, in the group stage of the recent Women’s Asia Cup.

CURRENT AFFAIRS : OBITUARIES

Namibian Cheetah Dies During Treatment at Kuno National Park in Madhya Pradesh

• Namibian cheetah Gaurav, a 10-year-old male, died at Kuno National Park, Madhya Pradesh, on 21 September 2026 while undergoing treatment.
• Gaurav was one of the first eight cheetahs brought from Namibia to India in 2022 under the Cheetah Reintroduction Project.
• India launched the Cheetah Reintroduction Project on 17 September 2022, bringing eight cheetahs from Namibia to India after the species became extinct in the country in 1952.
• Gaurav was rescued from the wild on 12 September 2026 after forest officials found him weak and dull in Kuno Palpur National Park.
• India’s total cheetah population stood at 55, comprising 51 cheetahs in Kuno National Park and 4 cheetahs in Gandhi Sagar National Park, both in Madhya Pradesh.
• Among the four cheetahs at Gandhi Sagar National Park is CCB-2, a female cheetah from Botswana, which was released into the sanctuary on 20 September 2026 by Madhya Pradesh Chief Minister Mohan Yadav.
• With Gaurav’s death, Kuno National Park recorded six cheetah deaths in 2026, including four cubs that died in May 2026 and were found dead and partially eaten.
• Another cheetah that died in 2026 was KGP-11, an Indian-born cheetah that was found injured in the wild.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Peace 2026 – 21 September

• International Day of Peace is observed annually on 21 September to strengthen the ideals of peace and promote non-violence and cease-fire.
• 2026 Theme: “Invest in Peace - For Everyone, Everywhere, Every Day.”
• The International Day of Peace was first established in 1981 by the United Nations General Assembly.
• Initially, the date for observing the day was the opening day of the annual sessions of the United Nations General Assembly, which was the third Tuesday of September.
• Later, the United Nations General Assembly declared 21 September as the permanent date for observing the International Day of Peace.
• In 2001, the United Nations General Assembly unanimously adopted a resolution designating the International Day of Peace as a period of non-violence and cease-fire.
• In 1983, the Office of the Secretary-General of the United Nations and Pathways to Peace submitted the “We the Peoples” Initiative Annual Report to the United Nations, summarising activities conducted for Peace Day.
• For its contribution to the International Year of Peace in 1987, Pathways to Peace was granted the designation of “Peace Messenger.”
• In 2006, the “We the Peoples” Initiative was renamed the “Culture of Peace Initiative.”

Daily CA One- Liner: September 23

• The historic Town Hall complex in Chandni Chowk, Delhi, will be redeveloped as a Global Heritage Centre, following a Memorandum of Understanding (MoU) signed between the Delhi Government and the Municipal Corporation of Delhi
• The Government of India approved Strategic Investment Plans (SIPs) with an aggregate project outlay of over ₹735 crore for Industrial Training Institute (ITI) clusters in Rajasthan, Uttar Pradesh and Telangana
• The Rajasthan Government plans to establish 39 food parks across the state under the Rajasthan Food Park Development Policy-2026
• Prime Minister Narendra Modi will visit Gujarat and Maharashtra.
• Angh, directed by Naga filmmaker Theja Rio, won the prestigious Platform Prize 2026 at the Toronto International Film Festival (TIFF), marking a historic first
• Bharat Heavy Electricals Limited and Titagarh Rail Systems Limited signed a Joint Venture Agreement to establish a 50:50 Joint Venture Company for the comprehensive maintenance of the supplied Vande Bharat Sleeper Trainsets
• The Central Industrial Security Force signed two Memoranda of Understanding with the Indian Institute of Technology Kanpur to strengthen its capabilities in cyber security and drone and anti-drone technology for protecting critical and strategic infrastructure
• Suchika Tariyal created history by becoming India’s first Asian Games medallist in Mixed Martial Arts (MMA) after winning the bronze medal in the women’s traditional -60-kilogram category at the Aichi-Nagoya Asian Games
• Smriti Mandhana became the leading run-scorer in women’s Twenty20 Internationals (T20Is), surpassing New Zealand great Suzie Bates’ 4,758 runs during India’s Asian Games semifinal against Bangladesh.
• The Reserve Bank of India (RBI) has issued the “Commercial Banks – Minimum Capital Requirements for Market Risk Directions, 2026” to align India’s market-risk framework with the revised Basel III standards.
• Moody’s Ratings raised India’s real Growth Domestic Product (GDP) growth forecast for Financial Year 2026-27 (FY27) to 7% from 6% earlier, citing the economy’s resilience to global shocks amid the West Asia conflict.
• Central Bureau of Narcotics (CBN), Department of Revenue, Ministry of Finance, and Prajapita Brahma Kumaris Ishwariya Vishwa Vidyalaya signed an MoU on 18 September 2026 at Mount Abu, Rajasthan to strengthen preventive drug awareness, youth empowerment, and community outreach.
• Reserve Bank of India (RBI) Deputy Governor Rohit Jain launched the multicurrency foreign exchange service on Bharat Connect at the Global Fintech Fest 2026 in Mumbai, expanding its retail forex services beyond the existing US Dollar (USD).
• External Affairs Minister (EAM) Dr. S. Jaishankar undertook a 3-day official visit to Bhutan from 16–18 September 2026, at the invitation of Bhutanese Foreign Minister N. Dhungyel, to review India-Bhutan bilateral cooperation.
• China supplied at least 80% of India’s imports across 71 electronics product lines in 2025–26, with dependence concentrated mainly in core components such as motors, cables and switching equipment rather than finished goods.
• Michael Kremer, a Nobel Prize-winning economist and University of Chicago professor, has been appointed as the next Chief Economist of the World Bank.
• SLINEX-26 (Sri Lanka–India Naval Exercise 2026) is the 13th edition of the annual bilateral maritime exercise between the Indian Navy (IN) and Sri Lanka Navy (SLN).
• The Ministry of Defence (MoD) signed a ₹586 crore contract with Accurate Industrial Controls Private Limited on 21 September 2026 in New Delhi to procure Auxiliary Power Units (APUs) for T-72 and T-90 tanks.
• The 18th edition of India–Mongolia Joint Military Exercise NOMADIC ELEPHANT 2026 commenced on 21 September 2026 at the Foreign Training Node, Pithoragarh, Uttarakhand, and will continue until 3 October 2026.
• The Suryakiran Aerobatic Team (SKAT) of the Indian Air Force (IAF) conducted its first aerial display in Meerut on 19–20 September 2026.
• Mazagon Dock Shipbuilders Limited (MDL), a defence Public Sector Undertaking (PSU), signed an Memorandum of Understanding (MoU) with National Shipbuilding and Heavy Industries Park Maharashtra Limited (NSHIPML) to develop a greenfield shipbuilding cluster at Dighi Port, Raigad, Maharashtra.
• Council of Scientific and Industrial Research (CSIR), under the Ministry of Science and Technology, in collaboration with the Department of Youth Affairs, Ministry of Youth Affairs and Sports, launched the CSIR Science & Innovation Quiz (CSIR SciQuiz) on the MY Bharat (Mera Yuva Bharat) Portal.
• The International Institute of Information Technology Bangalore (IIIT-Bangalore), Karnataka, and Taipei Computer Association (TCA) signed a Letter of Intent (LOI) at Electronica India 2026 in Bengaluru, Karnataka, to explore cooperation in AI, electronics, smart manufacturing, smart cities, and cybersecurity.
• CSIR–Central Road Research Institute (CSIR-CRRI), New Delhi, led by its Director Ch. Ravi Sekhar, participated in a high-level meeting at Visakhapatnam Metropolitan Region Development Authority (VMRDA) to develop a scientific road-improvement programme for Visakhapatnam.
• HCLTech has established a state-of-the-art Advanced Semiconductor Lab in Bengaluru with an investment of ₹185 crore, marking a major step in its semiconductor innovation efforts.
• An international team of scientists identified a new wild cat species named Leopardus tilcayo, locally called Tilcayo, from Bolivia’s Yungas cloud forest, marking the first new living feline species formally described in more than 100 years.
• Namibian cheetah Gaurav, a 10-year-old male, died at Kuno National Park, Madhya Pradesh, on 21 September 2026 while undergoing treatment.
• International Day of Peace is observed annually on 21 September to strengthen the ideals of peace and promote non-violence and cease-fire