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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Grants Approval to Carnelian Asset Management to Enter the Mutual Fund Business

• The Securities and Exchange Board of India (SEBI) approved Carnelian Asset Management & Advisors Private Limited to launch its Mutual Fund (MF) business.
• The approval enables Carnelian Asset Management to offer active and passive mutual fund schemes across equity, debt, and hybrid asset classes to retail investors.
• With this approval, the company can expand its integrated wealth management platform by providing SEBI-regulated mutual fund products.
• The approval allows Carnelian to diversify beyond its existing businesses of Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), and offshore investment strategies.
• The company plans to introduce a wide range of active and passive mutual fund schemes to cater to the investment needs of a broader retail investor base.
• Carnelian Asset Management aims to deepen mutual fund penetration by expanding its presence across Tier-II, Tier-III, and rural India through enhanced financial awareness and investor education.
• Carnelian Asset Management & Advisors Private Limited is a Mumbai, Maharashtra-based asset management company established in 2019.
• The company was founded by Vikas Khemani, Manoj Bahety, and Swati Khemani.
• As of 30 June 2026, Carnelian Asset Management managed assets worth over ₹18,300 crore.
• The company serves more than 8,600 clients through a nationwide network of over 710 partners across India.

Recent News :

• In July 2026, The Securities and Exchange Board of India (SEBI) warned regulated entities and listed companies against the rising "Boss Scam", a cyber fraud primarily targeting finance and accounts departments.

About SEBI :

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

Reserve Bank of India Temporarily Closes Mumbai's RBI Monetary Museum for Renovation

• The Reserve Bank of India (RBI) announced the temporary closure of the RBI Monetary Museum in Mumbai from 22 July 2026 for renovation work until further notice.
• The RBI Monetary Museum was established by the Reserve Bank of India (RBI) and is India's first museum dedicated to documenting, preserving, and showcasing the country's monetary heritage.
• The museum also promotes research on the evolution of money in India, highlighting the historical development of the nation's monetary system.
• The RBI Monetary Museum is located in the Amar Building, Fort area, Mumbai, Maharashtra.
• The museum houses more than 10,000 exhibits, making it one of India's most comprehensive collections of monetary artefacts.
• Around 1,500 exhibits are displayed for public viewing, while the remaining collections are preserved for research and archival purposes.
• The exhibits include ancient coins, modern coins, paper currency, financial instruments, commemorative issues, and other monetary artefacts.
• The museum presents the complete history and evolution of money in India, beginning with the barter system.
• The collection traces the transition from the barter system to ancient punch-marked coins, medieval coinage, Princely State currencies, British-era currency, Republic of India banknotes, and modern electronic forms of money.

Punjab National Bank and Andhra Pradesh Government Sign Memorandum of Understanding to Establish India's First Bank-Led Quantum Finance Hub

• Punjab National Bank (PNB) signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh (AP) to establish the PNB Quantum Finance Hub at the Amaravati Quantum Valley (AQV) in Amaravati, Andhra Pradesh.
• The PNB Quantum Finance Hub is India's first bank-led Quantum Finance Hub, marking a major milestone in the adoption of Quantum Computing (QC) in the banking and financial services sector.
• With this collaboration, PNB became the first bank in India to partner with a state government for establishing a dedicated Quantum Finance Facility.
• The hub aims to develop secure, intelligent, and future-ready banking solutions by leveraging Quantum Computing (QC) and Artificial Intelligence (AI).
• The initiative will promote collaborative research, technological innovation, cybersecurity, advanced financial technologies, and skill development in the banking ecosystem.
• The PNB Quantum Finance Hub will bring together industry, academic institutions, startups, and research organisations to accelerate research, startup incubation, talent development, and secure digital financial innovation.
• The initiative is expected to strengthen India's digital banking ecosystem by encouraging the development of next-generation financial technologies based on Quantum Computing and Artificial Intelligence.

About Punjab National Bank (PNB) :

• Established : 19 May 1894 and commenced operations on 12 April 1895.
• PNB is India's second-largest Public Sector Bank (PSB) after the State Bank of India (SBI).
• Headquarters : Dwarka, New Delhi, Delhi.
• Managing Director (MD) and Chief Executive Officer (CEO) : Ashok Chandra.

DBS Bank Named World's Best Corporate Bank at the 2026 Global Bank Awards

• DBS Bank Limited, a Singapore-based multinational banking and financial services corporation, was named the World's Best Corporate Bank at the 2026 Global Bank Awards presented by Global Finance magazine.

Key Highlights :

• DBS Bank became the first Southeast Asian bank to win the World's Best Corporate Bank title since the award category was introduced in 2005.
• The recognition highlights DBS Bank's leadership in corporate banking, innovation, customer service, and financial excellence.
• DBS Bank also held the title of "Safest Bank in Asia" by Global Finance magazine for 17 consecutive years (2009–2025).
• The 2026 Global Bank Awards winners were selected by the editorial board of Global Finance magazine, with inputs from corporate financial executives, bankers, and financial analysts from around the world.
• The evaluation was based on key parameters such as annual financial performance, reputation, management excellence, and overall banking achievements.
• At the 2026 Global Bank Awards, Santander (Spain) was recognised as the World's Best Bank.
• State Bank of India (SBI) received the World's Best Consumer Bank award, highlighting India's strength in the consumer banking sector.
• BBVA (Spain) was honoured as the World's Best Emerging Markets Bank.
• Ecobank (Togo) won the title of World's Best Frontier Markets Bank.
• CIBC Mellon (Canada) was recognised as the World's Best Sub-Custodian Bank.
• In addition to the global honour, DBS Bank received several prestigious regional awards, including Best Corporate Bank in Asia by Coalition Greenwich (USA).
• Global Finance (USA) also recognised DBS Bank as the Best Bank for Financial Institutions in Asia-Pacific and the Best Transaction Bank in Asia-Pacific.
• Euromoney (United Kingdom) honoured DBS Bank as the Best Bank for Small and Medium-sized Enterprises (SMEs) in Asia and Singapore.

London Stock Exchange to Introduce Extended Near-24-Hour Trading with LSE 24 Next Year

• The London Stock Exchange (LSE) announced the launch of LSE 24, a new after-hours trading platform designed to provide near-continuous trading for global investors.
• LSE 24 will offer trading from 5:00 PM to 7:50 AM (London Time), significantly extending the exchange's trading hours.
• Client testing of the LSE 24 platform is expected to begin by the end of 2026.
• The commercial launch of LSE 24 is planned for the first half (H1) of 2027.
• In its initial phase, LSE 24 will facilitate trading in Exchange-Traded Products (ETPs), including Exchange-Traded Funds (ETFs).
• The London Stock Exchange plans to expand the platform in the future to include equity trading.
• The initiative aims to provide greater flexibility for global investors, improve market liquidity, and meet the increasing demand for extended trading hours.
• The concept of LSE 24 is inspired by the 24×7 trading model of cryptocurrency markets, reflecting evolving global investment trends.

About London Stock Exchange (LSE) :

• The London Stock Exchange (LSE) was established in 1801, making it one of the world's oldest stock exchanges.
• The headquarters of the London Stock Exchange (LSE) is located in London, United Kingdom (UK).
• The LSE is one of the world's largest stock exchanges, providing trading services in equities, bonds, Exchange-Traded Products (ETPs), and other financial instruments.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Union Cabinet Approves Amendments to Public Examinations Act, 2024 to Introduce Stricter Penalties for Exam Paper Leaks

• The Union Cabinet approved amendments to the Public Examinations (Prevention of Unfair Means) Act, 2024 to impose stricter penalties for exam paper leaks and other organised examination malpractices.
• The proposed amendments aim to strengthen the legal framework to prevent organised cheating, ensure fair and transparent public examinations, and restore public confidence in the examination system.
• The amended Bill will be introduced in Parliament for approval.
• Under the proposed amendments, the minimum imprisonment for offences related to exam paper leaks has been increased from 3 years to 5 years.
• The maximum imprisonment remains 10 years.
• The maximum monetary penalty has been enhanced from ₹1 crore to ₹10 crore for serious offences involving organised examination fraud.
• The Government also proposes to speed up investigations and trials through special courts and fast-track judicial mechanisms.
• The amendments have been proposed in response to recent exam paper leak incidents, including allegations related to National Eligibility cum Entrance Test (Undergraduate) [NEET-UG] and other competitive examinations.
• The existing Public Examinations (Prevention of Unfair Means) Act, 2024 classifies offences related to organised examination fraud as cognizable and non-bailable.
• The Act covers offences such as:
• Leaking examination question papers
• Tampering with Optical Mark Recognition (OMR) answer sheets
• Creating fake examination websites
• Issuing fake admit cards
• Impersonation and organised cheating
• Unauthorised access to confidential examination information
• Involvement of service providers in examination-related fraud
• The proposed amendments also focus on ensuring speedy investigation, prosecution, and disposal of examination fraud cases to protect the integrity of public examinations.

Indian Cyber Crime Coordination Centre Directs GitHub to Remove Bitchat Repositories over National Security Concerns

• The Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs (MHA), directed GitHub to remove repositories related to Bitchat, a decentralised peer-to-peer messaging application, citing national security and law enforcement concerns.
• The directive was issued on 23 July 2026 under:
• Section 79(3)(b) of the Information Technology Act, 2000
• Rule 3(1)(d) of the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021
• The order sought the removal of three Bitchat repositories, including the Android application repository, from GitHub.
• Bitchat is an open-source, decentralised messaging application developed by Jack Dorsey, former Chief Executive Officer (CEO) of Twitter, and uses Bluetooth Low Energy (BLE) mesh networking instead of the internet or mobile networks.
• The application enables peer-to-peer encrypted messaging without requiring:
• Internet or mobile data
• Centralised servers
• Mobile number or email registration
• Messages are transmitted through nearby Bluetooth-enabled devices, allowing communication over approximately 30–100 metres, depending on network conditions, with the mesh network extending communication beyond the normal Bluetooth range.
• According to the Government, the application's anonymous and decentralised architecture makes it difficult to monitor, trace, or attribute communications, posing challenges for law enforcement agencies.
• The Government expressed concerns that the application could potentially be misused by:
• Terrorist organisations
• Anti-national elements
• Organised crime groups
• Cybercriminals
• Individuals spreading fake news during emergencies.
• The Government also highlighted that Bitchat can continue functioning even during internet shutdowns, making surveillance and investigation more difficult.

Government of India Releases Factsheet Highlighting Cotton as India’s ‘White Gold’

• The Government of India (GoI) released a factsheet describing Cotton as India’s “White Gold”, highlighting its significant contribution to the agriculture, textile, and export sectors.
• Cotton supports the livelihoods of nearly 6 million farmers and 40–50 million people across the textile value chain.
• India ranks 1st globally in cotton cultivation area, with 114.84 lakh hectares, accounting for nearly 38% of the world's cotton cultivation area.
• India is the 2nd largest producer and 2nd largest consumer of cotton globally.
• Cotton production for 2025–26 (Provisional) is estimated at 290.91 lakh bales (4.95 million tonnes).
• Domestic cotton consumption for 2025–26 (Provisional) is estimated at 328 lakh bales (5.58 million tonnes).
• During 2024–25, India exported 18 lakh bales (0.31 million metric tonnes) of cotton, accounting for nearly 3.37% of global cotton exports.
• Cotton exports were valued at USD 11.49 billion during Financial Year 2024–25 (FY25).
• The top export destinations for India's cotton fabrics and made-ups were:
• United States of America (USA)
• Bangladesh
• Sri Lanka
• India is the only country in the world cultivating all four recognised cotton species:
• Gossypium arboreum
• Gossypium herbaceum
• Gossypium barbadense
• Gossypium hirsutum
• Gossypium hirsutum (American Upland Cotton) contributes nearly 90% of India's hybrid cotton production.
• Cotton cultivation is concentrated across 11 states, with the major producing states grouped into:
• Northern Zone: Punjab, Haryana, Rajasthan
• Central Zone: Gujarat, Maharashtra, Madhya Pradesh
• Southern Zone: Telangana, Andhra Pradesh, Karnataka
• Cotton is also cultivated in Odisha and Tamil Nadu.
• The Minimum Support Price (MSP) for 2026–27 was increased to:
• ₹8,267 per quintal for medium-staple cotton
• ₹8,667 per quintal for long-staple cotton
• During the 2025–26 cotton season, the Cotton Corporation of India Limited (CCI) procured 105.09 lakh bales, worth ₹41,530 crore, through 24 lakh procurement transactions under the MSP.
• The number of cotton procurement centres increased from 508 in 2024–25 to 571 in 2025–26, covering 152 districts across 11 cotton-growing states.
• The Government launched the Mission for Cotton Productivity in 2025–26 with an outlay of ₹5,659.22 crore for a five-year period.
• The mission aims to develop climate-resilient, pest-resistant, and high-yielding cotton varieties, with a target to increase production from 297 lakh bales to 498 lakh bales by 2031.
• Since 2023–24, the Government has been implementing the Special Project on Cotton under the National Food Security Mission (NFSM), which has been extended up to 2025–26 with a total outlay of ₹60.32 crore.
• The project promotes technologies such as:
• High-Density Planting System (HDPS)
• Closer Spacing Planting System
• Production Technology for Extra Long Staple (ELS) Cotton
• The Kapas Kisan Mobile Application enables cotton farmers to self-register and book procurement slots under the MSP system.
• More than 41 lakh farmers have registered on the Kapas Kisan App.
• The Kasturi Cotton Bharat (KCB) initiative, launched by the Ministry of Textiles (MoT) in partnership with the Cotton Corporation of India Limited (CCI) and the Cotton Textiles Export Promotion Council (TEXPROCIL), promotes traceability, certification, and global branding of Indian cotton.
• As of 30 June 2026, 3,29,550 cotton bales had been certified under the Kasturi Cotton Bharat (KCB) initiative.

About Cotton Corporation of India Limited (CCI)

• Established: 1970
• Headquarters: Navi Mumbai, Maharashtra
• Administrative Ministry: Ministry of Textiles (MoT)
• Chairman and Managing Director (CMD): Lalit Kumar Gupta

Ministry of Coal Releases ‘AAROH: Annual Report on Mine Closure’ to Promote Scientific Mine Closure and Sustainable Land Reuse

• The Ministry of Coal (MoC) released ‘AAROH: Annual Report on Mine Closure’ in New Delhi, Delhi, showcasing India’s progress in scientific mine closure, ecological restoration, and sustainable post-mining land utilisation.
• The report, prepared by the Coal Controller Organisation (CCO), is India’s first comprehensive documentation of scientific coal mine closure and mine repurposing practices.
• The report documents the successful scientific closure of 42 coal mines, including 33 mines closed during the last year, and serves as a knowledge repository for future mine closure and reclamation projects.
• The Ministry of Coal has set a target to scientifically close 147 additional coal mines over the next 2–3 years.
• The report highlights key mine closure initiatives, including:
• RECLAIM (Reviving Environment, Communities, Livelihoods Around Impacted Mines) Framework
• L.I.V.E.S. (Land Repurposing, Institutional Convergence, Village-level Participatory Planning, Ecosystem Regeneration, and Sustainable Livelihoods) Framework
• SUVIKALP (Sustainable Utilisation of Vast Land Resources through Intelligent Planning) Mine Repurposing Tool
• SUVIKALP Samvaad
• For the first time, 25% of the approved mine closure cost has been earmarked for community development, creating an estimated investment potential of nearly ₹10,000 crore over the next decade.
• The Government has created a dedicated corpus of over USD 5 billion (approximately ₹40,000 crore) to support scientific and progressive mine closure across the country.
• The Ministry of Coal signed a technical cooperation agreement with Germany’s Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) for the sustainable closure and repurposing of coal mines.
• The 4-year project, funded by the Federal Ministry for Economic Cooperation and Development (BMZ), Germany, and co-financed by the European Union (EU), has a total project outlay of EUR 10 million.
• Union Minister G. Kishan Reddy virtually inaugurated Coal NEER Plants established by Coal India Limited (CIL) through its subsidiaries:
• Bharat Coking Coal Limited (BCCL)
• Central Coalfields Limited (CCL)
• Mahanadi Coalfields Limited (MCL)
• South Eastern Coalfields Limited (SECL)
• The Coal NEER Plants aim to provide safe and sustainable drinking water in coal-bearing regions.
• Bharat Coking Coal Limited (BCCL) and the Jharia Rehabilitation and Development Authority (JRDA) signed two tripartite Memoranda of Understanding (MoUs):
• With Hindalco Industries Limited to establish an Industry-Linked Skill Centre for skill development in the Dhanbad region.
• With Rajdhani Universal Fabrics Private Limited to establish a world-class integrated technical textile manufacturing ecosystem, generating employment and strengthening technical skills.

About Ministry of Coal:

• Cabinet Minister: Kishan Reddy
• Constituency: Secunderabad, Telangana
• Ministers of State (MoS): Satish Chandra Dubey

RECENT NEWS

• In a major leap towards digital governance in the energy sector, the Ministry of Coal is set to unveil “Koyla Shakti – Smart Coal Analytics Dashboard”. This digital platform promises to transform how coal production, logistics, and supply chain data are monitored and analysed, fostering transparency, efficiency, and smarter decision-making. 

CURRENT AFFAIRS : INTERNATIONAL NEWS

France Becomes First European Union Nation to Ban Social Media Access for Children Under 15

• France became the first country in Europe to approve a law banning children below the age of 15 from accessing social media platforms, aiming to protect minors from harmful online content, digital addiction, cyberbullying, and online abuse.
• The legislation was passed by both chambers of the French Parliament as a flagship initiative of President Emmanuel Macron's government.
• The law is part of France's broader strategy to strengthen child safety, mental well-being, and responsible digital usage.

Key Highlights :

• Under the new law, children under 15 years of age will not be allowed to access online social networking services, including major platforms such as Facebook, Instagram, TikTok, and Snapchat.
• The legislation also prohibits the use of mobile phones in French high schools, complementing earlier measures aimed at reducing digital distractions and improving the learning environment.
• The issue gained national attention after several French families filed lawsuits against TikTok, alleging that harmful content on the platform contributed to teenage suicides and serious mental health problems.
• The legislation is the culmination of a campaign led by President Emmanuel Macron since 2017, during which he repeatedly highlighted the dangers of anonymous social media accounts and online abuse.
• The Senate approved the compromise bill by 243 votes to 2, while the National Assembly passed it by 279 votes to 81.
• The law will come into force after review by the Constitutional Council and formal approval by President Emmanuel Macron.
• Responsibility for age verification rests with social media platforms, which must provide at least two different age verification methods for users.
• Wikipedia, online encyclopedias, open-source software, and educational platforms are explicitly exempted from the restrictions.
• The implementation will occur in two phases, with new accounts for children under 15 blocked from 1 September, while the restriction on existing accounts will take effect from January 2027.
• The European Commission has also introduced an Age Verification App, which is currently being tested by France and other European Union (EU) member states.
• France becomes one of nearly 20 countries worldwide that have proposed or implemented restrictions on children's access to social media.
• Australia became the first country in the world in December 2025 to require major social media companies to remove accounts of users under 16 or face significant penalties.

About France :

• President : Emmanuel Macron
• Prime Minister : Sébastien Lecornu
• Capital : Paris

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Kanishka Narayan Appointed as the United Kingdom's First Minister for Artificial Intelligence in Prime Minister Andy Burnham's Cabinet

• Kanishka Narayan, a Bihar-born British-Indian Labour Member of Parliament (MP), has been appointed as the United Kingdom's first Minister for Artificial Intelligence (AI) under the government led by Prime Minister Andy Burnham.
• The appointment marks the creation of the United Kingdom's first dedicated ministerial portfolio for Artificial Intelligence (AI), reflecting the country's growing focus on AI governance and technological innovation.
• The Artificial Intelligence (AI) portfolio will function jointly under the Cabinet Office and the Department for Business, Innovation, Science and Trade.
• The new ministry aims to strengthen the United Kingdom's AI policy, digital transformation, innovation ecosystem, and the development of emerging technologies.
• Kanishka Narayan was born in Muzaffarpur, Bihar, India, and moved to the United Kingdom at the age of 12.
• He pursued higher education at Oxford University and Stanford University, two of the world's leading educational institutions.
• Before entering politics, Kanishka Narayan worked as a banker and global technology executive, gaining extensive experience in the finance and technology sectors.
• His appointment highlights the United Kingdom government's commitment to promoting Artificial Intelligence (AI), digital innovation, and responsible technology governance.
• Artificial Intelligence (AI) refers to the simulation of human intelligence by machines, enabling computer systems to perform tasks such as learning, reasoning, problem-solving, and decision-making.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation Successfully Conducts Maiden Flight Test of Indigenous Kusha Long-Range Surface-to-Air Missile

• The Defence Research and Development Organisation (DRDO) successfully conducted the maiden flight test of the 'Kusha' Long-Range Surface-to-Air Missile (LR-SAM) from APJ Abdul Kalam Island off the coast of Odisha.
• During the flight test, the Kusha LR-SAM successfully intercepted an electronic target simulating a high-speed, high-altitude aerial threat, demonstrating its precision, accuracy, and operational readiness.

Key Highlights :

• The Kusha is an indigenously developed long-range air defence missile system designed to provide multi-layered aerial defence against a wide range of airborne threats.
• The missile system is capable of intercepting and neutralising fighter aircraft, stealth aircraft, Unmanned Aerial Vehicles (UAVs), cruise missiles, Precision-Guided Munitions (PGMs), and selected classes of ballistic missiles over an extended range and altitude.
• All major components of the Kusha weapon system, including the missiles, radars, command and control centre, and other subsystems, have been indigenously developed by various DRDO laboratories in collaboration with Indian industry partners.
• The Kusha air defence system employs a multi-tier interceptor architecture with three different interceptor missile variants to engage aerial threats at varying distances.
• The M1 interceptor missile is a short-to-medium-range variant capable of destroying aerial targets up to 150 km.
• The M2 interceptor missile is a medium-to-long-range variant with an operational range of 250 km.
• The M3 interceptor missile is the long-range variant, capable of intercepting threats at distances of 350–400 km, providing extended air defence coverage.

Recent News :

• In July 2026, Defence Research & Development Organisation (DRDO) successfully conducted the flight test of the Pinaka Long Range Guided Rocket (LRGR) at the Integrated Test Range (ITR), Chandipur, Odisha.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Rajesh Kumar Singh

Raghu Vamsi Aerospace Announces ₹600 Crore Investment for Superalloy Manufacturing Plant in Telangana

• Raghu Vamsi Aerospace Group announced an investment of over ₹600 crore to establish an integrated nickel-based superalloy manufacturing facility in Telangana.
• The announcement was made during the Farnborough International Airshow 2026 held in the United Kingdom (UK), one of the world's leading aerospace and defence exhibitions.
• The project aims to strengthen India's domestic manufacturing capabilities for high-performance nickel-based superalloys and reduce the country's dependence on imports.
• The project will be led by S. K. Jha, former Chairman and Managing Director (CMD) of Mishra Dhatu Nigam Limited (MIDHANI), India's premier special metals manufacturer.
• Raghu Vamsi Aerospace Group will establish the 50-acre manufacturing facility near Hyderabad, Telangana.
• The integrated plant will have an annual production capacity of approximately 5,000 tonnes.
• The facility will manufacture nickel-based superalloys, round bars, wires, forgings, castings, tungsten carbide powders, and other specialised engineering products.
• The manufacturing unit will integrate advanced technologies such as vacuum melting, forging, heat treatment, vacuum casting, powder metallurgy, and other metal-forming processes under one roof.
• Commercial production from the facility is expected to begin in January 2028, following the completion of construction, product qualification, and certification.
• The project will significantly reduce India's import dependence on nickel-based superalloys, strengthening the country's strategic manufacturing ecosystem.
• The facility will support critical sectors including aerospace, defence, space systems, gas turbines, energy, oil & gas, nuclear energy, medical implants, and emerging hydrogen technologies.
• Nickel-based superalloys are essential for manufacturing aero engines, defence platforms, space systems, and other high-temperature, high-strength applications.

About Raghu Vamsi Aerospace Group :

• It was established in 2015 and is headquartered in Hyderabad, Telangana.
• The company is a precision manufacturing and deep-tech enterprise serving the aerospace, defence, and energy sectors.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

China Successfully Launches Sea-Based Gravity-1 Rocket, Deploys Nine Satellites into Orbit

• Chinese commercial aerospace company Orienspace (ORIENSPACE) successfully launched the Gravity-1 Y4 carrier rocket from a sea-based launch platform in the East China Sea, placing 9 satellites into their designated orbits.
• The mission marked the 3rd flight of the Gravity-1 rocket and its first long-range (far-sea) maritime launch, representing a major milestone in China's commercial space programme.
• The launch took place from a launch vessel operated by the Oriental Aerospace Port in Haiyang, Yantai, Shandong Province, China's only commercial maritime launch base.
• The mission was conducted under the direction of the Taiyuan Satellite Launch Center, while the rocket was assembled at the Oriental Aerospace Port.
• The launch primarily tested the rocket's capability to operate under far-sea conditions, validating its solid-propellant booster configuration, long-duration launch readiness, and adaptability to complex maritime environments.
• Gravity-1 is the world's first medium-lift launch vehicle equipped with strap-on boosters powered entirely by solid-propellant motors, showcasing advanced launch vehicle technology.
• The Gravity-1 rocket measures 30 metres in height, has a mass of 405 tonnes, generates 600 tonnes of liftoff thrust, carries a 5-tonne payload to Low Earth Orbit (LEO), and 4.2 tonnes to a 500-km Sun-Synchronous Orbit (SSO).
• The rocket deployed nine satellites namely Dongpo-13, Dongpo-14, Dongpo-17, Dongpo-18, Dongpo-19, Dongpo-20, Xiguang-2 01, Tianyi-49, and Lilac-3.
• The Dongpo satellite series includes two optical satellites and four Synthetic Aperture Radar (SAR) satellites, which will join the existing Dongpo constellation to improve remote sensing, mapping, disaster management, agriculture, forestry, and water resource management.
• The Dongpo optical satellites are equipped with Artificial Intelligence (AI) capable of target recognition, intelligent image analysis, and real-time data processing, enhancing Earth observation efficiency.
• Xiguang-2 01 and Tianyi-49 integrate Artificial Intelligence (AI), commercial space technology, and quantitative remote sensing to provide services for mineral exploration, agriculture, forestry, environmental monitoring, and urban planning.
• Xiguang-2 01, developed by Xiopm SPACE, is China's first AI computing satellite combining hyperspectral quantitative remote sensing with real-time onboard intelligent data processing, reducing dependence on ground stations.
• Lilac-3 will conduct in-orbit technology demonstrations of an ultra-flat satellite platform integrating structural, thermal-control, and next-generation attitude control technologies.

National Institute of Electronics and Information Technology and Semi-Conductor Laboratory Mohali Sign Memorandum of Understanding to Integrate India's Indigenous 1.2 µm Process Design Kit with eChipHub

• The National Institute of Electronics and Information Technology (NIELIT), an Autonomous Scientific Society under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) with the Semi-Conductor Laboratory (SCL), Mohali, Punjab, an autonomous organisation under MeitY, to make India's indigenous 2 micrometre (µm) Process Design Kit (PDK) available through the eChipHub platform.
• The collaboration aims to strengthen India's semiconductor ecosystem and accelerate the objectives of the India Semiconductor Mission (ISM) by promoting indigenous semiconductor technology, innovation, and skill development.
• The initiative provides students, researchers, faculty members, startups, Micro, Small and Medium Enterprises (MSMEs), academic institutions, and industry professionals with access to indigenous semiconductor process technology for Integrated Circuit (IC) design and prototyping.

Key Highlights :

• The SCL 1.2 µm Process Design Kit (PDK) has been integrated into eChipHub through a secure Aadhaar-authenticated download mechanism, ensuring secure and responsible access to semiconductor design resources.
• The integration establishes one of India's first indigenous design-to-fabrication learning pathways, enabling learners to complete the entire Integrated Circuit (IC) design workflow using indigenous semiconductor process technology.
• The learning pathway covers Register Transfer Level (RTL) design, simulation, synthesis, physical implementation, and fabrication-oriented chip design, providing hands-on semiconductor design experience.
• The initiative promotes practical semiconductor design education, research, innovation, and capacity building, supporting India's ambition to become a global semiconductor design and innovation hub.
• eChipHub is implemented and managed by NIELIT under the MeitY-funded project titled "Development of EdTech Platform in Semiconductor Space to Democratize Chip Design and Development Ecosystem for Masses".
• The eChipHub platform has been jointly developed by NIELIT and SoCTeamup Semiconductors Pvt. Ltd., serving as India's national platform for semiconductor design education, capacity building, and industry-academia collaboration.
• Under the ongoing MeitY-funded EdTech Project, NIELIT aims to train nearly 30,000 students in semiconductor design through structured courses, bootcamps, Faculty Development Programmes (FDPs), internships, and industry-academia collaborative initiatives.
• The collaboration enhances eChipHub by supporting cloud-based virtual laboratories, Faculty Development Programmes (FDPs), workshops, hackathons, internships, Academic Alliance initiatives, and collaborative chip design projects.
• The partnership establishes an integrated design-to-fabrication ecosystem, enabling innovators to convert ideas into fabrication-ready Integrated Circuit (IC) designs using indigenous technologies.
• On 25 April 2025, in the presence of Krishnan, Secretary, MeitY, NIELIT and SCL signed the MoU to promote semiconductor research, innovation, capacity building, indigenous technology development, and academia-industry collaboration.

Recent News :

• In July 2026, The NIELIT announced the establishment of two Centres of Excellence (CoEs) in Ahmedabad, Gujarat and Guwahati, Assam to strengthen India’s semiconductor ecosystem through specialised skill development

About NIELIT :

• NIELIT is a pioneer in digital empowerment and Electronics & Information and Communication Technology (E&ICT) skill development with a nationwide network of 56 NIELIT Centres, 700+ Accredited Institutes, and 8,000+ Facilitation Centres.
• NIELIT has been granted the status of "Deemed to be University" by the Ministry of Education, with its main campus at Ropar, Punjab, and 11 constituent campuses located across India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Visvesvaraya Technological University Signs Memorandum of Understanding with Google to Promote Artificial Intelligence and Industry-Oriented Skills

• Visvesvaraya Technological University (VTU) entered into an academic partnership with Google through a Memorandum of Understanding (MoU) to enhance skill development, practical learning, and employment opportunities for engineering students.
• The Memorandum of Understanding (MoU) was signed by S. Vidyashankar, Vice-Chancellor of Visvesvaraya Technological University (VTU), Prasad B. Rampure, Registrar (Administration) of VTU, and Sanjay Jain, Head of Google for Education India.
• The partnership aims to provide training in key technology areas, including:
• Artificial Intelligence (AI)
• Cloud Computing
• Data Science
• Cybersecurity
• Faculty Skill Development
• The initiative focuses on preparing students according to industry requirements and improving their job readiness after completion of engineering education.
• Visvesvaraya Technological University (VTU) has 220 engineering colleges with around 3 lakh students, making the partnership significant for large-scale skill enhancement.
• The programme will introduce learning models aligned with the National Education Policy (NEP) and State Education Policy (SEP) to strengthen technology-based education.
• Similar industry collaborations have also been signed with:
• Qualcomm
• Bharat Skills Institute Foundation
• Simulation Enabled Experiential Learning (SEEL) Company
• Qualcomm, through its subsidiary Stem Lore Innovators LLP, signed an agreement to provide long-term training in:
• Artificial Intelligence (AI)
• Product Prototyping
• Embedded Systems
• Internet of Things (IoT)
• A Centre of Excellence (CoE) in Edge Artificial Intelligence (Edge AI) will be established through the Qualcomm partnership.
• The Centre of Excellence (CoE) will be developed in phases with an estimated investment of ₹20 crore.
• Simulation Enabled Experiential Learning (SEEL), an advanced digital learning platform, has been launched through the Mysuru e-learning centre to provide online practical laboratory experiences.
• The cloud-based SEEL platform will enable engineering and Master of Business Administration (MBA) students to access software tools and perform virtual lab activities anytime.
• Students will receive access to:
• Graduate Aptitude Test in Engineering (GATE) preparation materials
• Previous year question papers
• Mock tests
• Industry-based courses
• Artificial Intelligence-powered mock interviews
• More than 1,900 industrial projects and internships
• Technical webinars, workshops, and expert interactions

About Visvesvaraya Technological University (VTU)

• Established: 1998
• Headquarters: Belagavi, Karnataka
• Named After: Sir Mokshagundam Visvesvaraya, Bharat Ratna awardee and renowned engineer
• Objective: Promote technical education, research, innovation, and industry collaboration by affiliating and supporting engineering institutions across Karnataka.

Paralympic Committee of India and Cerebral Palsy Sports Federation of India Sign Memorandum of Understanding for India’s Bid to Host 2029 World Abilitysport Games

• The Paralympic Committee of India (PCI) and the Cerebral Palsy Sports Federation of India (CPSFI) signed a Memorandum of Understanding (MoU) in New Delhi, Delhi to jointly pursue India’s bid to host the 2029 World Abilitysport Games.
• The partnership aims to prepare and submit a competitive bid to bring the international multi-sport event for athletes with disabilities to India, strengthening the country's role in the global Paralympic movement.
• India previously hosted the International Wheelchair and Amputee Sports Federation (IWAS) World Games in Bengaluru, Karnataka, in 2009.
• Chennai (Tamil Nadu) and Bhubaneswar (Odisha) are being considered as the potential host cities for the 2029 World Abilitysport Games, based on their sports infrastructure, accessibility, and event readiness.
• The 2029 World Abilitysport Games are expected to feature more than 1,500 participants competing in various Para sports, including:
• Para Athletics
• Para Swimming
• Para Badminton
• Para Fencing
• Cerebral Palsy Football (CP Football)
• Para Table Tennis
• 3-a-side Para Wheelchair Basketball

About Paralympic Committee of India (PCI)

• Established: 1992
• Headquarters: New Delhi
• President: Devendra Jhajharia
• Affiliation: International Paralympic Committee (IPC)
• Objective: Promote, develop, and manage Para sports in India, select and support Indian athletes for Paralympic Games and other international Para sporting events, and encourage inclusive sports participation for persons with disabilities.

CURRENT AFFAIRS: IMPORTANT DAYS

Kargil Vijay Diwas 2026 Commemorates 27 Years of India’s Victory in the Kargil War

• Kargil Vijay Diwas is observed every year on 26 July to honour the bravery, courage, and supreme sacrifice of Indian Armed Forces personnel during the Kargil War of 1999.
• Kargil Vijay Diwas 2026 marks the 27th anniversary of India’s victory in the Kargil War, which was fought between India and Pakistan from May to July 1999.
• The day commemorates the successful completion of Operation Vijay, launched by the Indian Armed Forces to recapture strategic locations occupied by Pakistani forces in the Kargil sector.
• The Kargil War was an armed conflict between India and Pakistan in the Kargil district of Jammu and Kashmir (now part of Ladakh) along the Line of Control (LoC).
• The conflict began after the infiltration of around 5,000 Pakistani soldiers and militants into Indian territory, who occupied strategically important high-altitude positions along the Line of Control (LoC).
• The infiltration was aimed at gaining a tactical advantage in the region and creating international pressure on India regarding the Kashmir issue.
• The operation was reportedly planned by the then Pakistan Army Chief General Pervez Musharraf without the knowledge of the then Pakistan Prime Minister Nawaz Sharif.
• Pakistan’s objective was to compel India to withdraw forces from the Siachen Glacier region and bring international attention to the Kashmir dispute.
• The Indian Armed Forces launched Operation Vijay and successfully recaptured the occupied peaks through exceptional military strategy and bravery under challenging high-altitude conditions.
• The victory was achieved on 26 July 1999, and the day is celebrated as Kargil Vijay Diwas every year.
• Kargil Vijay Diwas 2026 pays tribute to the Kargil War heroes who sacrificed their lives while defending India’s sovereignty and territorial integrity.

Daily CA One- Liner: July 26 & 27

• The Union Cabinet approved amendments to the Public Examinations (Prevention of Unfair Means) Act, 2024 to impose stricter penalties for exam paper leaks and other organised examination malpractices.
• The Indian Cyber Crime Coordination Centre (I4C), under the Ministry of Home Affairs (MHA), directed GitHub to remove repositories related to Bitchat, a decentralised peer-to-peer messaging application, citing national security and law enforcement concerns
• The Government of India (GoI) released a factsheet describing Cotton as India’s “White Gold”, highlighting its significant contribution to the agriculture, textile, and export sectors
• The Ministry of Coal (MoC) released ‘AAROH: Annual Report on Mine Closure’ in New Delhi, Delhi, showcasing India’s progress in scientific mine closure, ecological restoration, and sustainable post-mining land utilisation
• Visvesvaraya Technological University (VTU) entered into an academic partnership with Google through a Memorandum of Understanding (MoU) to enhance skill development, practical learning, and employment opportunities for engineering students
• The Paralympic Committee of India (PCI) and the Cerebral Palsy Sports Federation of India (CPSFI) signed a Memorandum of Understanding (MoU) in New Delhi, Delhi to jointly pursue India’s bid to host the 2029 World Abilitysport Games.
• The Securities and Exchange Board of India (SEBI) approved Carnelian Asset Management & Advisors Private Limited to launch its Mutual Fund (MF) business.
• The Reserve Bank of India (RBI) announced the temporary closure of the RBI Monetary Museum in Mumbai from 22 July 2026 for renovation work until further notice.
• Punjab National Bank (PNB) signed a Memorandum of Understanding (MoU) with the Government of Andhra Pradesh (AP) to establish the PNB Quantum Finance Hub at the Amaravati Quantum Valley (AQV) in Amaravati, Andhra Pradesh.
• DBS Bank Limited, a Singapore-based multinational banking and financial services corporation, was named the World's Best Corporate Bank at the 2026 Global Bank Awards presented by Global Finance magazine.
• The London Stock Exchange (LSE) announced the launch of LSE 24, a new after-hours trading platform designed to provide near-continuous trading for global investors.
• France became the first country in Europe to approve a law banning children below the age of 15 from accessing social media platforms, aiming to protect minors from harmful online content, digital addiction, cyberbullying, and online abuse.
• Kanishka Narayan, a Bihar-born British-Indian Labour Member of Parliament (MP), has been appointed as the United Kingdom's first Minister for Artificial Intelligence (AI) under the government led by Prime Minister Andy Burnham.
• The Defence Research and Development Organisation (DRDO) successfully conducted the maiden flight test of the 'Kusha' Long-Range Surface-to-Air Missile (LR-SAM) from APJ Abdul Kalam Island off the coast of Odisha.
• Raghu Vamsi Aerospace Group announced an investment of over ₹600 crore to establish an integrated nickel-based superalloy manufacturing facility in Telangana.
• Chinese commercial aerospace company Orienspace (ORIENSPACE) successfully launched the Gravity-1 Y4 carrier rocket from a sea-based launch platform in the East China Sea, placing 9 satellites into their designated orbits.
• The National Institute of Electronics and Information Technology (NIELIT), an Autonomous Scientific Society under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) with the Semi-Conductor Laboratory (SCL), Mohali, Punjab, an autonomous organisation under MeitY, to make India's indigenous 2 micrometre (µm) Process Design Kit (PDK) available through the eChipHub platform.
• Kargil Vijay Diwas is observed every year on 26 July to honour the bravery, courage, and supreme sacrifice of Indian Armed Forces personnel during the Kargil War of 1999