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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Unified Payments Interface Completes 10 Years, Emerges as Backbone of India’s Digital Payments Ecosystem

• Unified Payments Interface (UPI) was launched on 25 August 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI).

Key Highlights :

• UPI is an instant payment system built over Immediate Payment Service (IMPS) infrastructure, enabling instant bank-to-bank fund transfers.
• UPI has completed 10 years and has emerged as the backbone of India’s digital payments ecosystem and an important driver of financial inclusion.
• UPI is a major pillar of India’s Digital Public Infrastructure (DPI), supporting interoperable real-time peer-to-peer (P2P) and peer-to-merchant (P2M)
• The share of UPI in India’s digital payments reached 84% in FY2025-26.
• Annual UPI transaction volume increased from 78 crore transactions in FY2016-17 to over 24,162 crore transactions in FY2025-26, representing an almost 13,000-fold increase.
• Annual UPI transaction value increased from ₹0.07 lakh crore in FY2016-17 to approximately ₹314 lakh crore in FY2025-26, representing a more than 4,000-fold increase.
• UPI recorded a 188% CAGR in annual transaction volume and a 155% CAGR in annual transaction value during the decade.
• UPI transaction volume grew by 30% YoY, while transaction value grew by 21% YoY from 2025 to 2026.
• UPI processed an average of around 66 crore transactions daily in 2026, highlighting its large-scale adoption.
• UPI crossed 2,300 crore monthly transactions for the first time in May 2026, recording 2,320 crore transactions.
• July 2026 recorded the highest-ever monthly UPI volume of 2,366 crore transactions and a record transaction value of ₹29.88 lakh crore.
• The number of banks live on UPI increased from 44 banks in FY2016-17 to 703 banks in FY2025-26, while 741 banks were live on UPI as of July 2026.
• At the time of UPI’s launch in April 2016, only 21 banks were onboarded, while the first month recorded around 90,000 transactions.
• UPI accounted for nearly 49% of global real-time payment transaction volume in 2025, according to the provided data.
• The International Monetary Fund (IMF) has recognised UPI as the world’s largest real-time payment system by transaction volume.
• UPI has expanded internationally and is currently operational in 11 countries: UAE, France, Bhutan, Sri Lanka, Nepal, Singapore, Mauritius, Qatar, Cambodia, Greece and Maldives.
• UPI supports Remitter Payment Service Providers (PSPs) for outgoing transactions and Beneficiary PSPs for receiving funds, with NPCI monitoring participant performance.

Recent News :

• In Aug 2026, Unified Payments Interface (UPI) recorded its highest-ever monthly performance in July 2026, processing 23.66 billion transactions worth ₹29.88 lakh crore (US$ 313.47 billion), according to the National Payments Corporation of India (NPCI).

Reserve Bank of India Releases House Price Index for Q1 FY2026-27 Covering 18 Major Cities

• The Reserve Bank of India (RBI) released the House Price Index (HPI) for Q1 FY2026-27, covering 18 major cities across India.
• The base year for the latest RBI House Price Index (HPI) is 2022–23.
• The All-India HPI increased by 1.1% sequentially and reached 117.5 in Q1 FY2026-27.
• The quarterly rise in the All-India HPI was mainly driven by higher house prices in Chandigarh, Lucknow, and Thiruvananthapuram.
• On a year-on-year (YoY) basis, the All-India HPI grew by 3.6% in Q1 FY2026-27, matching the growth recorded in Q1 of the previous year.
• The RBI compiles the House Price Index every quarter using transaction-level data received from property registration authorities.
• The RBI HPI measures changes in residential property prices across 18 major cities and provides an important indicator of developments in India’s housing market.

Reserve Bank of India Penalises Progfin and Shri Ram Finance for Regulatory Non-Compliance

• The Reserve Bank of India (RBI) imposed a ₹8.10 lakh monetary penalty on Shri Ram Finance Corporation Private Limited on 19 August 2026 for non-compliance with RBI directions relating to governance and Know Your Customer (KYC).
• The penalty on Shri Ram Finance Corporation Private Limited followed a statutory inspection conducted by RBI based on the company’s financial position as of 31 March 2025.
• The RBI imposed a separate ₹2.70 lakh monetary penalty on Progfin Private Limited through an order dated 19 August 2026 for non-compliance with the RBI KYC Directions.
• The penalty on Progfin Private Limited was imposed under the powers conferred on the RBI by the Reserve Bank of India Act, 1934.
• RBI found that Progfin Private Limited had failed to establish a system for periodic review of the risk categorisation of customer accounts.
• Under the RBI KYC Directions, customer risk categorisation must be reviewed periodically, with the review required to be conducted at least once every six months.

Insurance Regulatory and Development Authority of India Bars Pramerica and Edelweiss Life Insurance from Opening New Branches for Six Months

• IRDAI (Insurance Regulatory and Development Authority of India) has taken enforcement action against Edelweiss Life Insurance and Pramerica Life Insurance for exceeding the permissible Expenses of Management (EoM) limits during FY 2024–25.
• Under the IRDAI (Expenses of Management, including Commission, of Insurers) Regulations, 2024, insurers must keep their operational and distribution expenses within prescribed EoM limits.
• As a penalty, IRDAI barred both Edelweiss Life Insurance and Pramerica Life Insurance from opening new branches or places of business for six months.
• Pramerica Life Insurance incurred ₹747.73 crore in expenses against the allowable ₹609.94 crore, resulting in excess expenditure of ₹137.79 crore in the non-participating segment.
• Edelweiss Life Insurance incurred ₹558.73 crore against the allowable ₹494.09 crore in the non-participating segment, while its participating-segment expenses were ₹264.81 crore against the allowable ₹239.50 crore.
• The total excess expenditure of Edelweiss Life Insurance was ₹89.95 crore during FY 2024–25.
• IRDAI stated that EoM limits are intended to ensure prudent expense management, improve operational efficiency, and ultimately pass the benefits of efficiencies to policyholders.
• Edelweiss Life Insurance, formerly Edelweiss Tokio Life Insurance, was established in 2011, is headquartered in Mumbai, and operates as a joint venture between Edelweiss Financial Services and Japan’s Tokio Marine Holdings.
• Pramerica Life Insurance was established in 2008 and operates as a joint venture backed by Prudential International Insurance Holdings, using the Pramerica brand associated with Prudential Financial, Inc. (USA).

FTSE Russell Declares Bombay Stock Exchange Eligible for Inclusion in Its Equity Indices

• FTSE Russell announced that the Bombay Stock Exchange (BSE) has fulfilled the required criteria to become an eligible exchange for inclusion of securities in FTSE Russell Equity Indices.
• BSE main-board listed stocks can now be considered for eligibility in FTSE Russell indices, potentially increasing their visibility among international investors.
• The eligibility assessment for BSE main-board securities will begin with the FTSE Russell March 2027 Index Review.
• The development is significant for BSE-listed companies as inclusion in global indices can potentially improve international investor participation and market visibility.
• BSE SENSEX is a free-float market-capitalisation-weighted index comprising 30 well-established and financially sound companies listed on the BSE.

About BSE : 

• Established : 1875 and is one of the oldest stock exchanges in Asia.
• Managing Director & CEO : Sundararaman Ramamurthy.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Vibha Padalkar Reappointed HDFC Life Managing Director & Chief Executive Officer for Another Five-Year Term

• Vibha Padalkar has been re-appointed as Managing Director (MD) & Chief Executive Officer (CEO) of HDFC Life Insurance Company for another five-year term.
• Her new term will be effective from 12 September 2026, following approval from the Insurance Regulatory and Development Authority of India (IRDAI).
• Vibha Padalkar has been serving as MD & CEO of HDFC Life since 2018, and the re-appointment extends her leadership for the company’s next phase of growth.
• Before becoming MD & CEO, Padalkar served as Executive Director & Chief Financial Officer (CFO) of HDFC Life for more than a decade.
• During her tenure at HDFC Life, she contributed significantly to financial management, business strategy and operations, supporting the company’s growth and transformation.
• Before joining HDFC Life, Padalkar served as Executive Vice President – Finance at WNS Global Services.
• She began her professional career with Colgate-Palmolive, where she gained experience in corporate finance before moving into the financial-services sector.
• Vibha Padalkar has more than three decades of professional experience across financial services, corporate finance, strategy and leadership.
• Her continued leadership is expected to support HDFC Life’s focus on business growth, customer-centric innovation and strategic expansion.

Slice Appoints Samir Sawhney as Executive Director and Ramesh Kumar as Independent Director

• Slice Small Finance Bank (SFB) appointed Samir Sawhney as Executive Director and Ramesh Kumar as Independent Director on its Board.
• Samir Sawhney brings over 34 years of experience at State Bank of India (SBI), where he held senior positions in treasury, global markets, retail operations, marketing, and human resources.
• At SBI, Sawhney served as Chief General Manager (CGM) of Global Markets, overseeing a domestic treasury portfolio exceeding ₹16.5 lakh crore and foreign assets of more than US$10 billion.
• Sawhney also served as Chairman of the Foreign Exchange Dealers’ Association of India (FEDAI), which represents banks in foreign-exchange matters.
• Before joining Slice, Samir Sawhney served as Chief Executive of RMBS Development Company, an entity established by the National Housing Bank (NHB) to develop India’s residential mortgage-backed securities market.
• Ramesh Kumar has around 30 years of experience across banking, financial services, technology, and digital transformation, including about 20 years at ICICI Bank.
• At ICICI Bank, Ramesh Kumar headed the Technology Management Group and Software Development functions, overseeing technology strategy, infrastructure, mobile banking, and digital banking platforms.
• Before joining ICICI Bank, Kumar led the implementation of SBI’s core banking platform and has expertise in technology governance, cybersecurity, operational resilience, and digital transformation.
• Ramesh Kumar also advised Slice during its integration and merger with North East Small Finance Bank (NESFB).
• RBI approval was received for Samir Sawhney’s appointment as Executive Director of Slice Small Finance Bank.
• The appointments strengthen Slice’s Board with expertise in banking, treasury, capital markets, technology, cybersecurity, and digital banking.
• Slice was founded by Rajan Bajaj in 2016 as a fintech startup offering consumer payments, credit products, and Buy Now, Pay Later (BNPL) services.
• Following RBI restrictions on loading credit lines onto prepaid payment instruments, Slice expanded into personal loans and UPI payments.
• Slice completed its merger with North East Small Finance Bank (NESFB) in October 2024, combining their operations, assets, and brands.
• After shareholder and regulatory approvals, the merged entity was renamed Slice Small Finance Bank in February 2025.
• Managing Director (MD) and Chief Executive Officer (CEO) of Slice Small Finance Bank : Rajan Bajaj

Yandra Haragopal Appointed as Managing Director of NABARD’s Financial Services Arm NABFINS

• Yandra Haragopal has been appointed as the Managing Director (MD) of NABFINS (NABARD Financial Services Limited), the financial-services arm of NABARD, headquartered in Bengaluru, Karnataka.
• Before joining NABFINS, Yandra Haragopal served as the Managing Director of NABCONS for more than two and a half years.
• NABCONS is a Nasscom-promoted company based in New Delhi, Delhi.
• NABFINS is a non-deposit-taking financial institution and operates as a subsidiary of NABARD (National Bank for Agriculture and Rural Development).
• NABFINS provides affordable financial services and need- and cash-flow-based credit to low-income and underserved communities.
• The institution primarily supports rural and semi-urban communities, including unserved and marginalised sections, through microfinance and agricultural credit.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Tata Consultancy Services to Acquire Porsche’s IT Consulting Arm MHP for EUR 320 Million

• Tata Consultancy Services (TCS) announced the acquisition of MHP Management- und IT-Beratung GmbH (MHP), the management and IT consulting subsidiary of Porsche AG.
• TCS will acquire 100% stake in MHP for an enterprise value of EUR 320 million (approximately ₹3,575 crore).
• The acquisition is part of a 5-year strategic partnership worth EUR 1.25 billion between TCS and Porsche AG.
• The partnership aims to accelerate Artificial Intelligence (AI), digital transformation, and software-defined mobility solutions in the automotive sector.
• TCS plans to complete the acquisition of MHP within the next 3–4 months, subject to the required regulatory approvals.
• The acquisition will strengthen TCS’s global presence across Germany, Romania, the United Kingdom, the United States, India, and Mexico.
• As part of the partnership, TCS and Porsche will establish an AI Mobility Centre of Excellence (CoE) for Porsche AG.
• The AI Mobility CoE will develop AI solutions for engineering, manufacturing, operations, and customer experience.
• The acquisition requires approvals under EU merger control, EU Foreign Subsidies Regulation, Romania’s Foreign Direct Investment rules, and Germany’s regulatory process.

About TCS :

• Established : 1968
• Headquarters : Mumbai, Maharashtra, and operates under the Tata Group.
• Chief Executive Officer (CEO) and Managing Director (MD) : K. Krithivasan

SoftBank Sells 2.58% Stake in Lenskart for Around ₹2,888 Crore Through Block Deal

• SoftBank Group, through its affiliate SVF II Lightbulb (Cayman) Ltd, sold a 2.58% stake in Lenskart Solutions for approximately ₹2,888 crore through open-market block deals.
• SoftBank sold around 5 crore equity shares of Lenskart in 22 tranches, according to BSE block-deal data.
• Following the latest stake sale, SoftBank’s holding in Lenskart declined from 9.86% to 7.28%, while it continues to remain the second-largest public shareholder.
• This was SoftBank’s second major stake sale in Lenskart in 2026, after it sold a 3.25% stake worth around ₹2,873 crore in June 2026.
• Platinum Jasmine A 2018 Trust, backed by the Abu Dhabi Investment Authority (ADIA), remains Lenskart’s largest public shareholder with a 9.77% stake.
• Societe Generale was among the major foreign buyers and acquired approximately 1.07 crore Lenskart shares, representing a 0.62% stake.
• Goldman Sachs acquired 84.31 lakh shares of Lenskart for approximately ₹541.06 crore.
• Motilal Oswal Mutual Fund acquired approximately 47.71 lakh shares for ₹306.17 crore, while Vanguard Group acquired around 37.28 lakh shares for ₹239.2 crore.
• Other foreign investors participating in the block deal included Morgan Stanley, BNP Paribas Financial Markets, Wasatch Global Investors, Ghisallo Capital Management, and Integrated Core Strategies Asia.
• Domestic buyers included National Pension System Trust and mutual funds managed by SBI, Edelweiss, Nippon India, Franklin Templeton, HDFC, HSBC, ICICI Prudential, Motilal Oswal, and Sundaram.
• Following the transaction, Lenskart Solutions shares fell 0.28% to ₹659.70 on the BSE.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India Successfully Test-Fires First Fully Indigenous AK-203 ‘Sher’ Assault Rifle in Amethi, Uttar Pradesh

• Indo-Russian Rifles Private Limited (IRRPL), located at Korwa, Amethi, Uttar Pradesh, successfully produced and test-fired the first 100% indigenised AK-203 ‘Sher’ assault rifle using entirely Indian components and materials.
• The indigenised AK-203 ‘Sher’ marks a major step towards Aatmanirbhar Bharat and greater localisation of defence manufacturing for the Indian Army (IA).
• The AK-203 belongs to the Kalashnikov AK-100 series and is a gas-operated, magazine-fed assault rifle chambered for the 62×39 mm cartridge.
• The rifle has a firing rate of around 700 rounds per minute, an effective range of up to 800 metres, and a 415 mm barrel.
• The AK-203 features an adjustable folding stock and provisions for mounting optics and other accessories.
• The AK-203 ‘Sher’ is intended to replace the INSAS (Indian Small Arms System) rifle in the Indian Armed Forces.
• The first indigenised rifle is scheduled to be handed over for Indian Armed Forces trials in September 2026.
• IRRPL was established in 2019 as an India-Russia Joint Venture (JV) to manufacture AK-203 rifles locally under the ‘Make in India’
• The Transfer of Technology (ToT) for the AK-203 production programme was completed during 2023–24, and initial supplies of AK-203 rifles to the Indian Army began in 2024.
• The ₹5,200 crore contract covers the supply of 6,01,427 AK-203 rifles to the Indian Armed Forces.
• The delivery target for the AK-203 programme has been advanced from the original October 2032 deadline to December 2030.

United States Navy Unveils AIM-424 Malice Long-Range Air-to-Air Missile With 463 km Strike Range

• The United States (US) Navy unveiled the AIM-424 Malice, a next-generation Long Range Air-to-Air Missile (LRAAM) developed by Raytheon, a subsidiary of RTX Corporation.
• The AIM-424 Malice has a strike range exceeding 250 nautical miles (463 km), strengthening long-range aerial combat and naval defence capabilities.
• The missile uses a two-stage solid-propellant rocket motor, enabling high-speed, long-distance engagement and sustained energy for terminal manoeuvres against moving aerial targets.
• Its guidance system combines inertial navigation, satellite updates, and datalink updates with advanced terminal seekers using radar and infrared sensors.
• The advanced guidance system is designed to provide high accuracy and improve resistance to electronic jamming.
• The AIM-424 Malice is designed for internal carriage on stealth aircraft such as the F-35 Lightning II and F-22 Raptor.
• The missile can also be carried externally by the F/A-18 Super Hornet, providing compatibility with multiple US combat aircraft.
• The primary role of the AIM-424 Malice is to provide a “first look, first shot, first kill” advantage in fleet air defence.
• The missile is intended to engage high-value airborne targets such as AWACS (Airborne Warning and Control System) aircraft, aerial refuelling tankers, and enemy bombers before they can launch attacks.

All India Institute of Ayurveda Introduces “GARBHINI MITRA” Course to Enhance Ayurveda-Based Maternal Wellness Support

• The All India Institute of Ayurveda (AIIA), New Delhi, under the Ministry of Ayush, launched the Garbhini Mitra Course for the 2026–27 academic session on 24 August 2026.
• The Garbhini Mitra Course is a six-month offline programme designed to train personnel in non-clinical maternal wellness guidance and community-level support during pregnancy and the postnatal period.
• The course is based on key Ayurvedic concepts, namely Garbhini Paricharya (antenatal care), Sutika Paricharya (postnatal care), and Garbhadhana Vidhi (pre-conceptional care).
• The programme covers trimester-specific nutrition, pregnancy-safe yoga, emotional support, newborn massage, basic life-support protocols, and biomedical waste management.
• The Garbhini Mitra Course is intended to complement rather than replace clinical antenatal care, and routine medical check-ups, diagnostic tests, blood-pressure monitoring, and haemoglobin monitoring remain essential.
• Trained Garbhini Mitras will help identify pregnancy warning signs and facilitate timely medical referrals when required.
• The course will be conducted offline from Monday to Friday, 3:00 PM to 5:00 PM, with an intake limited to 20 students per batch.
• Candidates must be 18 years or older and must have passed the Senior Secondary (10+2) examination to apply for the course.
• The last date to apply for the Garbhini Mitra Course 2026–27 is 31 August 2026.
• Successful candidates can work as Garbhini Mitra Assistants, prenatal and postnatal care assistants, or wellness guides.
• Graduates may find opportunities in AYUSH centres, maternity clinics, NGOs, and community health projects.

United Nations Development Programme India and Hindustan Unilever Limited Launch New Partnership Phase to Promote Inclusive Plastic Circular Economy

• The United Nations Development Programme (UNDP) India and Hindustan Unilever Limited (HUL) launched a new phase of their partnership to strengthen an inclusive circular economy for plastics in India.
• The partnership aims to support 50,000 Safai Mitras and strengthen waste-management systems across 50 cities by 2028.
• The initiative will focus on improving the livelihoods, social security, dignity, and occupational safety of Safai Mitras, with special attention to women waste workers.
• The partnership will focus on four key areas: social inclusion, strengthening urban waste-management systems, improving recycling efficiency, and knowledge transfer through practical and open-source toolkits.
• Under the social inclusion component, the initiative will work towards formalising and improving the livelihoods of 50,000 Safai Mitras, particularly women workers.
• The programme will support 50 cities and Urban Local Bodies (ULBs) in developing efficient, decentralised, resilient, and end-to-end waste-management systems.
• The initiative will promote source segregation, strengthen waste recovery and recycling practices, and improve recycling efficiency across value chains.
• The partnership is part of HUL’s Project Circular Bharat, which focuses on advancing plastic circularity through financially viable end-to-end recycling models.
• Project Utthaan under the initiative focuses on improving the dignity, occupational safety, and social security of Safai Mitras.
• The initiative is aligned with the Ministry of Social Justice and Empowerment (MoSJE) and implemented in coordination with the Ministry of Housing and Urban Affairs (MoHUA).
• The initiative supports Swachh Bharat Mission-Urban 2.0 and contributes to Sustainable Development Goal (SDG) 11 – Sustainable Cities and Communities and SDG 12 – Responsible Consumption and Production.
• UNDP India will support policy alignment, systems strengthening, and implementation at scale under the partnership.
• The UNDP-HUL partnership has completed seven years of collaboration and has previously supported 24,000 Safai Mitras and enabled waste segregation across 1.2 lakh households through 20+ partners in five states.

About United Nations Development Programme :

• Formation : 22 November 1965
• Headquarters : New York City,the United States of America (USA)
• Administrator : Alexander De Croo

About Hindustan Unilever Limited :

• Founded : 1933
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Priya Nair

ICAR-National Bureau of Animal Genetic Resources Grants National Recognition to Kerala’s Indigenous Periyar Cow Breed

• ICAR-National Bureau of Animal Genetic Resources (ICAR-NBAGR) has officially recognised and registered Periyar Cow as an indigenous cattle breed of Kerala.
• The Periyar Cow, locally known as Periyar Kullan (Periyar dwarf), is also called Kuttampuzha cattle and Andukanni.
• Periyar Cow has become the second indigenous cattle breed from Kerala to receive national recognition, after the Vechur Cow, which was recognised in 1996.
• The breed is traditionally found in the Periyar River basin and adjoining plantation and forest landscapes of Ernakulam and Thrissur districts of Kerala.
• Kerala University of Veterinary and Animal Sciences (KVASU), in collaboration with ICAR-NBAGR, conducted a three-year scientific study to establish the breed’s distinct genetic and physical characteristics.
• The Periyar Cow is well adapted to semi-feral, low-input management and silvopastoral/agroforestry conditions, requiring minimal human intervention.
• The breed has strong adaptation, resilience and ecological fitness and can survive by grazing on naturally available vegetation.
• The Periyar Cow is a compact, small-to-medium-sized animal, weighing approximately 150–200 kg and standing around 105–110 cm tall.
• Its physical characteristics include brown, black or grey colouring, horizontally placed ears, slightly curved horns, and a prominent hump in bulls.
• Its small body size and natural grazing ability make it relatively easy and inexpensive to maintain.
• The breed’s milk is valued for its nutritional characteristics and is classified as A2 Beta-casein milk, with an average yield of around 2.5–4 litres and approximately 4.5% fat and 9.1% Solids Not Fat (SNF).
• The lactation period of the Periyar Cow ranges between approximately 160 and 200 days.
• First breeding usually occurs at around 26 months, while first calving takes place at approximately 35 months.
• The breed’s population came under pressure due to crossbreeding and changing land-use patterns, and it was once considered to be facing extinction.
• A community-based conservation model helped increase the breed’s population by distributing Periyar calves among local families.

IIT Mandi Develops Sea Urchin-Inspired Coating for Antibacterial 3D-Printed Bone Implants

• Researchers at IIT Mandi have developed a sea urchin-inspired bio-coating for 3D-printed bone implants that can mechanically disrupt bacteria and improve implant–bone integration.
• The innovation addresses two major challenges in orthopaedic implants: bacterial infections due to biofilm formation and poor bonding of hydrophobic PLA (Polylactic Acid) implants with bone tissue.
• The combination of customised 3D printing and hydroxyapatite biomimicry can help produce implants that fit individual bone defects, promote bone growth, and reduce bacterial colonisation.
• The sea urchin-inspired surface coating is designed to mechanically damage bacteria, offering a non-chemical antibacterial approach for bone implants.
• Sea urchins are marine invertebrates belonging to the group Echinoderms, meaning spiny-skinned animals; starfish and sea cucumbers are also echinoderms.
• Sea urchins are found in marine environments such as rocky shores, coral reefs, seagrass beds and sandy bottoms, generally living on the ocean floor.
• Sea urchins have spherical to flattened spiny bodies and a hard internal skeleton called a test, which consists of interlocking plates or ossicles.
• Sea urchins have radial symmetry with five bands of pores extending from the mouth to the anus, and these pores accommodate tube feet.
• Their bodies contain movable spines and pedicellariae, which are pincer-like structures that may possess poison glands.
• Sea urchins are primarily herbivorous, feeding mainly on algae and plant material.
• Sea urchins use a specialised mouthpart called Aristotle’s lantern to scrape algae and other food from rocks or the seafloor.

CURRENT AFFAIRS : SUMMITS & CONFERENCES

GENESIS Entrepreneur-in-Residence Cohort-3 Launched at NextGen Startup Summit in Coimbatore

• The Ministry of Electronics and Information Technology (MeitY), through MeitY Startup Hub (MSH), launched the 3rd cohort of the GENESIS Entrepreneur-in-Residence (EIR) Programme, known as GENESIS EIR 3.0.
• GENESIS EIR 3.0 is a national initiative designed to support aspiring entrepreneurs, innovators, researchers, students and early-stage startup founders in converting technology-driven ideas into viable ventures.
• GENESIS EIR 3.0 was formally launched at the GENESIS NextGen Startup Summit (Coimbatore Edition) held at Rathinam Global University, Coimbatore, Tamil Nadu.
• Panneerselvam Madanagopal, Chief Executive Officer (CEO) of MeitY Startup Hub, formally launched the GENESIS EIR 3.0 programme.

Key Highlights :

• GENESIS is a flagship initiative of MeitY Startup Hub with a total budget outlay of ₹490 crore.
• The programme aims to identify, support and accelerate startups, particularly those emerging from Tier-II and Tier-III cities.
• GENESIS EIR Cohort-3 focuses on innovations in emerging technologies, including Artificial Intelligence (AI), Machine Learning (ML), Internet of Things (IoT), Semiconductors, Very Large Scale Integration (VLSI) technologies and Cybersecurity.
• Under the Entrepreneur-in-Residence (EIR) component, selected innovators can receive maximum financial assistance of ₹10 lakh through participating GENESIS incubators.

CURRENT AFFAIRS : APPS & PORTALS

Union Minister Jyotiraditya Scindia Launches Upgraded Dak Sewa and Dak MITRA Apps to Modernise Postal Services

• Union Minister Jyotiraditya M. Scindia, Ministry of Communications, launched the revamped Dak Sewa App and Dak MITRA App at Rang Bhavan, New Delhi to modernise postal services and strengthen last-mile delivery.
• Chandra Sekhar Pemmasani, Union Minister of State for Communications and Rural Development, also participated in the launch.
• The Dak MITRA (Mobile Interface for Transactions & Rural Assistance) App was developed indigenously by the Centre for Excellence in Postal Technology (CEPT) under the Advanced Postal Technology (APT)
• Dak MITRA serves as a unified operational platform for more than 4 lakh Branch Post Offices, supporting digital and real-time postal and financial services.
• The Dak MITRA App operates on Android-based handheld devices and enables paperless transactions and real-time service delivery by Branch Postmasters.
• Key services through Dak MITRA include mail booking, OTP-based doorstep delivery, Core Banking Services, insurance services, Aadhaar-based biometric e-KYC, cash deposits and withdrawals, and PLI/RPLI premium collection.
• The Dak Sewa App provides citizens with 24×7 access to postal services such as tracking, booking, complaints, Post Office locators, PIN-code locators and financial calculators.
• Dak Sewa supports 23 Indian languages through BHASHINI (BHASha INterface for India), improving accessibility and citizen convenience.
• The upgraded applications are part of the Department of Posts IT 2.0 Modernization initiative and aim to combine India Post’s traditional service network with modern digital technology.
• The Department of Posts is modernising Post Office infrastructure in collaboration with the School of Planning and Architecture (SPA), New Delhi, using a Design Manual focused on functionality, accessibility, operational efficiency and customer experience.
• The SPA Design Manual follows four core principles: public-service identity, citizen-centric service delivery, technology and innovation for future readiness, and standardisation with local flexibility.
• The modernised Post Offices follow a five-zone spatial framework comprising Urban Interface Zone, Open Access Forecourt, Open Access Services, Service and Transaction Zone, and Staff Zones.
• As a Proof of Concept, 40 Post Offices across 17 States were selected for transformation under the SPA Design Manual.
• Out of the initial 40 Post Offices, 27 had been completed, with 4 already inaugurated and 14 additional renovated Post Offices inaugurated on 24 August 2026.
• The remaining Post Offices under the initial 40-Post Office phase were targeted for completion by 31 August 2026.
• The Department plans to extend the modernisation programme to an additional 60 Post Offices during the current financial year.
• The 14 newly inaugurated Post Offices are located across Bihar, Delhi, Haryana, West Bengal, Madhya Pradesh, Meghalaya, Maharashtra, Uttar Pradesh and other locations, strengthening modern postal infrastructure.
• Renovated Post Offices feature distinctive India Post identity, improved signage, citizen-centric layouts, dedicated service areas and technology-enabled facilities.
• Wherever feasible, modern facilities include 24×7 Sewa facilities, ATMs, after-hours booking and smart parcel services.
• The combined rollout of Dak MITRA, Dak Sewa and renovated Post Offices aims to improve last-mile delivery, accessibility, operational efficiency and citizen experience.
• The initiatives support the broader national objectives of Digital India, Aatmanirbhar Bharat and Viksit Bharat.

CURRENT AFFAIRS: MOUS AND AGREEMENT

TVS Supply Chain Solutions Signs Memorandum of Understanding with Japan’s Sankyu Inc. for Supply Chain and Engineering Cooperation

• TVS Supply Chain Solutions Limited has signed a Memorandum of Understanding with Sankyu Inc., a Japan-based company, to jointly explore opportunities in supply chain services and engineering services.
• Under the agreement, Sankyu Inc. plans to acquire a 0.5% stake in TVS Supply Chain Solutions Limited, subject to the necessary regulatory approvals.

Key Highlights

• The partnership will initially focus on India, with both companies exploring opportunities in logistics, warehousing, transportation, engineering services, maintenance and industrial support.
• TVS Supply Chain Solutions Limited will contribute its supply chain network and customer base, while Sankyu Inc. will bring its experience and expertise in engineering and logistics services.
• The collaboration is expected to target Japanese companies operating in India, along with other potential customers. India is currently home to more than 1,400 Japanese companies, with a significant presence in manufacturing and industrial sectors.
• The companies may expand their cooperation beyond India to Asia, the Middle East and Africa, as well as other countries where either company already has operations.
• A Joint Steering Committee comprising representatives from both companies will be established to identify new business opportunities and coordinate the implementation of the partnership.
• The agreement represents an effort to combine Indian supply chain capabilities with Japanese engineering and logistics expertise, potentially creating integrated solutions for industrial and manufacturing customers.

About Japan

• Capital: Tokyo
• Currency: Japanese Yen
• Prime minister: Sanae Takaichi

Himachal Pradesh Forest Department Signs MoU with Indian School of Business for Forest Economy

• Himachal Pradesh Forest Department signed a 5-year Memorandum of Understanding (MoU) with Bharti Institute of Public Policy, Indian School of Business (ISB-BIPP) to develop the state’s forest and pastoral economy through science, technology and data-driven governance.
• A joint forest inventory identified an estimated ₹22,600 crore untapped economic value across five major bio-resources: Amla – ₹8,700 crore; Pine Needles – ₹5,500 crore; Wild Mangoes – ₹4,800 crore; Sal Seeds – ₹2,400 crore; Rhododendron Flowers – ₹1,200 crore.

Key Highlights

• The inventory used data from 2 lakh+ tree-level records, species-tagged images collected by 500+ forest guards, satellite imagery and Artificial Intelligence/Machine Learning (AI/ML), followed by ground validation.
• Maps have been developed for 7 species — Khair, Bamboo, Chir Pine, Amla, Wild Mango, Sal and Rhododendron — under the initiative Counting Green Wealth.
• The MoU focuses on four key areas: forest economy and community enterprises; women-led producer companies and market linkages; forest intelligence platform; and grazing portal and pastoral database.
• The Forest Intelligence Platform will first be piloted in Palampur Forest Division and later expanded across Himachal Pradesh. The data has already been incorporated into the Palampur Forest Division Working Plan.
• The Grazing Portal and Pastoral Database will be developed under the Himachal Pradesh Grazing Policy, 2026, with linkages to Aadhaar, Him Pariwar, Bharat Pashudhan and PEHEL.
• The initiative also promotes women-led enterprises, sustainable utilisation of forest resources, market linkages and capacity-building of forest officials and producer companies.

About Himachal Pradesh:

• Chief Minister: Sukhvinder Singh Sukhu
• Governor: Kavinder Gupta
• Capital: Shimla
• National Parks: Great Himalayan National Park, Pin Valley National Park, Inderkilla National Park, Khirganga National Park, Simbalbara National Park
• Wildlife Sanctuaries: Pong Dam Lake Wildlife Sanctuary, Renuka Wildlife Sanctuary, Kalatop-Khajjiar Wildlife Sanctuary, Kibber Wildlife Sanctuary, Kais Wildlife Sanctuary, Daranghati Wildlife Sanctuary, Kugti Wildlife Sanctuary

India–Japan Defence Ministers’ Meeting 2026: Maritime Security Cooperation Strengthened

• Raksha Mantri Rajnath Singh and Japanese Defence Minister Shinjiro Koizumi held the Japan–India Defence Ministers’ Meeting in New Delhi, reaffirming the Japan–India Special Strategic and Global Partnership and their commitment to a free and open Indo-Pacific.
• Both sides signed a Memorandum of Arrangement on Maritime Security Cooperation between the Ministry of Defense of Japan and the Ministry of Defence of India.
• It provides a framework for cooperation between the Japan Maritime Self-Defense Force and Indian Navy, including Maritime Domain Awareness, Search and Rescue, and Humanitarian Assistance and Disaster Relief.

Key Highlights

• India and Japan agreed to strengthen Sea Lines of Communication through naval ship visits, joint exercises, personnel and Subject Matter Expert exchanges, logistical support, and access to ports and maintenance and repair facilities.
• The two countries will explore joint development in naval shipbuilding and design, leveraging Japan’s technological expertise and India’s production capabilities under the Make in India framework.
• They also agreed to advance reciprocal access to ship repair facilities.
• Bilateral defence exercises, including Dharma Guardian between the Armies and Japan–India Maritime Exercise, are being expanded. Veer Guardian 26, the Japan–India Air Force exercise, will be held in 2026, with Japanese Air Self-Defence Force fighter aircraft visiting India for the first time for the exercise.
• The countries agreed to promote cooperation between their Special Operations Forces and pursue cooperation with India’s Integrated Theatre Commands after their establishment.
• India welcomed Japan’s revised framework for the transfer of defence equipment and technology.
• The shipborne UNICORN integrated communications antenna system was highlighted as the first defence equipment transfer project between India and Japan.
• Both sides agreed to deepen defence research and development cooperation between the Defence Research and Development Organisation and Acquisition, Technology & Logistics Agency of Japan in advanced defence technologies and to convene a Defence Industry Forum.
• India, Japan and Indonesia conducted their first trilateral naval Passage Exercise (PASSEX) in February 2026. The two countries agreed to further expand defence cooperation with third countries in the Indo-Pacific.
• The two countries will promote the Indo-Pacific Logistics Network for transporting personnel and supplies to support partner countries during natural disasters.
• The second tabletop exercise of the network is scheduled for September 2026 in Japan.
• India and Japan agreed to accelerate preparations for the Fourth Japan–India Foreign and Defence Ministerial Meeting (2+2), which is scheduled to be held in Tokyo in 2026.
• A new Working Group, headed at the Director-General/Joint Secretary level, will coordinate cooperation across operational, intelligence, equipment, technology and defence industrial domains.
• Visit highlights: Japanese Defence Minister Shinjiro Koizumi paid homage to fallen Indian soldiers at the National War Memorial, New Delhi, received a Tri-Service Guard of Honour, and visited the Western Naval Command in Mumbai and Indian Naval Ship Chennai.

Maharashtra–Hesse Sign Memorandum of Understanding to Strengthen Economic Cooperation

• Maharashtra and Hesse, a state of Germany, signed a Memorandum of Understanding (MoU) to strengthen cooperation in investment, industry, innovation, employment and skill development.
• The agreement was signed by Maharashtra Chief Minister Devendra Fadnavis and Hesse Minister-President Boris Rhein at Sahyadri Guest House, Mumbai.

Key Highlights

• Hesse will serve as Maharashtra’s gateway to Germany and Europe, while Maharashtra will provide Hesse access to India and the Indo-Pacific region.
• The partnership will focus on industry, services, Information Technology, skilled workforce and cross-border mobility.
• Key sectors covered under the cooperation include pharmaceuticals, healthcare, engineering, automobiles, financial services, logistics, digital economy and Artificial Intelligence.
• Maharashtra invited Hesse-based companies to invest in the state, with the partnership aimed at promoting greater business and investment linkages.

About Maharashtra:

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

CURRENT AFFAIRS: SPORTS NEWS

Treesa Jolly–Gayatri Gopichand Win Historic Bronze at Badminton World Championships

• Treesa Jolly and Gayatri Gopichand won the bronze medal in the women’s doubles event at the Badminton World Championships, creating history for Indian badminton.
• They became only the second Indian women’s doubles pair to win a World Championships medal, after Jwala Gutta and Ashwini Ponnappa.
• The Indian pair lost to top seeds and defending champions Liu Sheng Shu and Tan Ning of China in the semi-final at the Indira Gandhi Indoor Stadium, New Delhi.

Key Highlights

• Treesa Jolly and Gayatri Gopichand won the first game 21–18, but the Chinese pair came back strongly to win the next two games 21–13 and 21–8.
• Despite the semi-final defeat, the Indian duo secured the bronze medal, marking a significant achievement in their international career.
• Coach Pullela Gopichand praised the duo’s achievement and highlighted their tremendous growth as a pair over the years.
• He also acknowledged the role of the Government of India, Badminton Association of India (BAI) and Sports Authority of India (SAI) in successfully hosting the Championships in New Delhi.

East Bengal FC Wins Record-Equalling 17th Durand Cup 2026

• East Bengal Football Club (FC) defeated arch-rivals Mohun Bagan Super Giant 4–1 in the final to win the 135th IndianOil Durand Cup 2026 at Vivekananda Yuba Bharati Krirangan (Salt Lake Stadium), Kolkata.

Key Highlights

• The victory gave East Bengal its 17th Durand Cup title, equalling Mohun Bagan’s record of 17 titles and making the two clubs the joint-most successful teams in the tournament’s history.
• The title ended East Bengal’s 22-year wait for the Durand Cup.
• The club had last won the tournament in 2004, when it defeated Mohun Bagan 2–1 in the final.
• Edmund Lalrindika was the star performer for East Bengal, scoring a first-half hat-trick.
• Bipin Singh opened the scoring in the 10th minute, while Lalrindika scored in the 12th, 22nd and 44th minutes.
• Manvir Singh scored Mohun Bagan’s only goal in the 33rd minute, but East Bengal restored its three-goal advantage before half-time and comfortably defended the lead in the second half.

CURRENT AFFAIRS: IMPORTANT DAYS

International Dog Day 2026 – August 26

• International Dog Day is observed annually on 26 August to celebrate dogs and recognise their importance as companions and working animals.
• The day was first observed on 26 August 2004.
• Founder: Colleen Paige, an American Animal Welfare Advocate and Pet Lifestyle Expert.
• The day aims to create awareness about dog welfare, responsible pet ownership and the importance of treating dogs with care and compassion.
• Adoption over purchase: International Dog Day encourages people to adopt dogs from shelters and rescue organisations rather than purchasing them from pet shops.
• The celebration recognises all dogs irrespective of breed, size, shape or background.
• Dogs contribute to human life in several ways, including providing companionship, emotional support, security and assistance in various working roles.

Women’s Equality Day 2026 – August 26

• Women’s Equality Day is observed annually on 26 August in the United States to commemorate women’s constitutional right to vote.
• The day marks the 19th Amendment to the United States Constitution, which prohibited the denial of voting rights on the basis of sex.
• The 19th Amendment was ratified on 18 August 1920, granting women the constitutional right to vote across the United States.
• Women’s Equality Day was officially designated in 1973 by the United States Congress.
• The women’s suffrage movement in the United States gained momentum before the American Civil War, with activists demanding equal voting rights for women.
• By the 1830s, most U.S. states had expanded voting rights beyond property-owning white men to include white men regardless of property ownership, while women remained excluded from voting.
• The observance highlights not only the achievement of women’s suffrage but also the continuing struggle for gender equality and equal opportunities in education, employment and public life.

Daily CA One- Liner: August 27

• TVS Supply Chain Solutions Limited has signed a Memorandum of Understanding with Sankyu Inc., a Japan-based company, to jointly explore opportunities in supply chain services and engineering services
• Himachal Pradesh Forest Department signed a 5-year Memorandum of Understanding (MoU) with Bharti Institute of Public Policy, Indian School of Business (ISB-BIPP) to develop the state’s forest and pastoral economy through science, technology and data-driven governance
• Raksha Mantri Rajnath Singh and Japanese Defence Minister Shinjiro Koizumi held the Japan–India Defence Ministers’ Meeting in New Delhi, reaffirming the Japan–India Special Strategic and Global Partnership and their commitment to a free and open Indo-Pacific
• Maharashtra and Hesse, a state of Germany, signed a Memorandum of Understanding (MoU) to strengthen cooperation in investment, industry, innovation, employment and skill development
• Treesa Jolly and Gayatri Gopichand won the bronze medal in the women’s doubles event at the Badminton World Championships, creating history for Indian badminton
• East Bengal Football Club (FC) defeated arch-rivals Mohun Bagan Super Giant 4–1 in the final to win the 135th IndianOil Durand Cup 2026 at Vivekananda Yuba Bharati Krirangan (Salt Lake Stadium), Kolkata.
• Unified Payments Interface (UPI) was launched on 25 August 2016 by the National Payments Corporation of India (NPCI) under the regulatory oversight of the Reserve Bank of India (RBI).
• The Reserve Bank of India (RBI) released the House Price Index (HPI) for Q1 FY2026-27, covering 18 major cities across India.
• The Reserve Bank of India (RBI) imposed a ₹8.10 lakh monetary penalty on Shri Ram Finance Corporation Private Limited on 19 August 2026 for non-compliance with RBI directions relating to governance and Know Your Customer (KYC).
• IRDAI (Insurance Regulatory and Development Authority of India) has taken enforcement action against Edelweiss Life Insurance and Pramerica Life Insurance for exceeding the permissible Expenses of Management (EoM) limits during FY 2024–25.
• FTSE Russell announced that the Bombay Stock Exchange (BSE) has fulfilled the required criteria to become an eligible exchange for inclusion of securities in FTSE Russell Equity Indices.
• Vibha Padalkar has been re-appointed as Managing Director (MD) & Chief Executive Officer (CEO) of HDFC Life Insurance Company for another five-year term.
• Slice Small Finance Bank (SFB) appointed Samir Sawhney as Executive Director and Ramesh Kumar as Independent Director on its Board.
• Yandra Haragopal has been appointed as the Managing Director (MD) of NABFINS (NABARD Financial Services Limited), the financial-services arm of NABARD, headquartered in Bengaluru, Karnataka.
• Tata Consultancy Services (TCS) announced the acquisition of MHP Management- und IT-Beratung GmbH (MHP), the management and IT consulting subsidiary of Porsche AG.
• SoftBank Group, through its affiliate SVF II Lightbulb (Cayman) Ltd, sold a 58% stake in Lenskart Solutions for approximately ₹2,888 crore through open-market block deals.
• Indo-Russian Rifles Private Limited (IRRPL), located at Korwa, Amethi, Uttar Pradesh, successfully produced and test-fired the first 100% indigenised AK-203 ‘Sher’ assault rifle using entirely Indian components and materials.
• The United States (US) Navy unveiled the AIM-424 Malice, a next-generation Long Range Air-to-Air Missile (LRAAM) developed by Raytheon, a subsidiary of RTX Corporation.
• The All India Institute of Ayurveda (AIIA), New Delhi, under the Ministry of Ayush, launched the Garbhini Mitra Course for the 2026–27 academic session on 24 August 2026.
• The United Nations Development Programme (UNDP) India and Hindustan Unilever Limited (HUL) launched a new phase of their partnership to strengthen an inclusive circular economy for plastics in India.
• ICAR-National Bureau of Animal Genetic Resources (ICAR-NBAGR) has officially recognised and registered Periyar Cow as an indigenous cattle breed of Kerala.
• Researchers at IIT Mandi have developed a sea urchin-inspired bio-coating for 3D-printed bone implants that can mechanically disrupt bacteria and improve implant–bone integration.
• The Ministry of Electronics and Information Technology (MeitY), through MeitY Startup Hub (MSH), launched the 3rd cohort of the GENESIS Entrepreneur-in-Residence (EIR) Programme, known as GENESIS EIR 3.0.
• Union Minister Jyotiraditya M. Scindia, Ministry of Communications, launched the revamped Dak Sewa App and Dak MITRA App at Rang Bhavan, New Delhi to modernise postal services and strengthen last-mile delivery.
• International Dog Day is observed annually on 26 August to celebrate dogs and recognise their importance as companions and working animals
• Women’s Equality Day is observed annually on 26 August in the United States to commemorate women’s constitutional right to vote.