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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Pradhan Mantri Jan Dhan Yojana Marks 12 Years of Advancing Financial Inclusion in India

• Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by Prime Minister Narendra Modi on 28 August 2014 as the National Mission on Financial Inclusion.
• PMJDY completed 12 years in August 2026 and is regarded as the world’s largest financial inclusion initiative.
• The scheme aims to provide every unbanked adult with access to a basic bank account, with no minimum balance requirement and no maintenance charges.

Key Highlights :

• As of 19 August 2026, the total number of PMJDY accounts reached 09 crore.
• Women account holders accounted for 7% (32.92 crore) of total PMJDY accounts as of 19 August 2026.
• Rural and semi-urban areas accounted for 8% (45.95 crore) of PMJDY accounts, highlighting the scheme’s focus on underserved regions.
• Total deposits under PMJDY accounts stood at ₹3,16,514 crore (₹3.17 lakh crore) as of 19 August 2026.
• PMJDY deposits increased by around 8 times, while the number of accounts increased by 2.3 times over the last 12 years.
• The average deposit per PMJDY account stood at ₹5,356 as of 19 August 2026, increasing by 4 times over the last 12 years.
• A total of 29 crore RuPay debit cards have been issued to PMJDY account holders.
• Each PMJDY account provides a free RuPay debit card with ₹2 lakh accident insurance cover.
• PMJDY account holders are eligible for an overdraft facility of up to ₹10,000, providing financial support during emergencies.
• PMJDY has helped extend life and accident insurance coverage to millions through PM Jeevan Jyoti Bima Yojana (PMJJBY) and PM Suraksha Bima Yojana (PMSBY).
• The Jan-Dhan–Aadhaar–Mobile (JAM) Trinity, with PMJDY at its core, enables direct and diversion-proof delivery of government welfare benefits.
• The JAM Trinity eliminates intermediaries and delays by transferring government benefits directly into beneficiaries’ bank accounts.
• PMJDY has strengthened financial inclusion, savings, credit access, insurance and pension coverage, particularly for marginalised and economically disadvantaged sections.
• PMJDY accounts have enabled beneficiaries to access loans, including MUDRA loans, supporting income generation and financial resilience.
• The scheme is driven by a mission-mode approach, regulatory support, public-private partnerships and digital public infrastructure such as Aadhaar.
• Union Minister of State for Finance Pankaj Chaudhary highlighted PMJDY’s role in transforming India’s banking and financial landscape and reaching the poorest sections of society.
• PMJDY is a key pillar of India’s financial inclusion strategy, ensuring wider access to formal banking and promoting inclusive growth and economic empowerment.

Foreign Direct Investment Boost: ₹4,896 Crore Invested in 29 Projects Under Revised 10% Chinese Ownership Rule

• The Ministry of Commerce and Industry reported that 29 foreign direct investment (FDI) projects worth ₹4,895.65 crore had been reported under India’s revised FDI framework up to 20 August 2026.
• The revised framework allows entities with up to 10% non-controlling ownership by companies based in a land-bordering country (LBC) to receive FDI through the automatic route, without prior government approval.
• The government amended Press Note 3 of 2020 in March 2026, while the DPIIT notified the revised rules in May 2026.

Key Highlights :

• Under the earlier Press Note 3 of 2020, FDI from entities based in countries sharing a land border with India required government approval.
• Previously, even an entity based in another country could require government approval if it had beneficial ownership from an LBC, even at a small level.
• The revised framework aims to provide greater certainty to investors, reduce transaction time and improve the ease of doing business in India.
• The 29 FDI investments cover sectors including Information Technology, Artificial Intelligence, Information & Communication, Manufacturing, Pharmaceuticals, Data Centres and Transport Services.
• The investments were reported by entities based in jurisdictions including Mauritius, the United States, Republic of Korea, Japan, Singapore, Luxembourg and the Cayman Islands.
• FDI proposals from entities directly based in land-bordering countries continue to require government approval.
• India’s land-bordering countries covered by the rules are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar and Afghanistan.
• Under the revised framework, government approval is required when an LBC company has a controlling stake in the investing entity.
• The Union Cabinet has approved a 60-day window for government approval of investments from LBC countries in select sectors, aimed at expediting the approval process.
• The reform is part of India’s broader efforts to make the country a more attractive FDI destination and establish a more predictable FDI policy.
• India has also eased FDI norms for inventory-based e-commerce companies as part of its efforts to improve the investment environment.
• India is working towards an updated Model Bilateral Investment Treaty (BIT) to support a more predictable investment framework.
• Net FDI inflows into India declined significantly, from an annual average of around USD 40 billion during FY2020–FY2022 to USD 6.95 billion in FY2026.

WhatsApp Pay’s UPI Transactions More Than Double to 168 Million in July 2026

• WhatsApp Pay, the UPI transaction service of Meta’s WhatsApp in India, processed 89 million UPI transactions worth ₹12,957.07 crore in July 2026.
• WhatsApp Pay’s transaction volume more than doubled year-on-year, rising from 6 million transactions in July 2025 to 167.89 million in July 2026.
• In July 2025, WhatsApp Pay processed transactions worth ₹5,412.58 crore and ranked as the 11th-largest UPI app by transaction volume.
• In July 2026, WhatsApp Pay became the 8th-largest UPI app by transaction volume, moving ahead of platforms such as CRED and Amazon Pay.
• WhatsApp Pay first crossed the 100 million transaction mark in December 2025, marking a major milestone in its UPI growth.
• The strong growth followed the National Payments Corporation of India (NPCI) removing restrictions on WhatsApp Pay’s user onboarding in December 2024.
• NPCI had initially approved WhatsApp Pay to operate on UPI in November 2020 under the multi-bank model through a graded user-onboarding approach.
• When launched in 2020, WhatsApp Pay was initially allowed to onboard 20 million users.
• The user limit was increased to 40 million in 2021 and subsequently to 100 million in 2022.
• In 2024, NPCI removed the restrictions on the number of users that WhatsApp Pay could onboard.
• In July 2026, PhonePe, Google Pay and Paytm remained the three largest UPI apps by transaction volume.
• PhonePe processed 85 billion UPI transactions in July 2026, retaining the top position.
• Google Pay processed 64 billion UPI transactions in July 2026 and ranked second.
• Paytm processed 90 billion UPI transactions in July 2026 and ranked third.

India’s Forex Reserves Surge by $14.14 Billion to $707 Billion

• According to the Reserve Bank of India (RBI), India’s foreign exchange (forex) reserves increased by USD 14.136 billion to USD 707.002 billion during the week ended 7 August 2026.
• In the previous reporting week ended 31 July 2026, India’s forex reserves had increased by USD 10.512 billion to USD 692.866 billion.
• India’s forex reserves had reached an all-time high of USD 728.494 billion during the week ended 27 February 2026, before declining due to the West Asia conflict and pressure on the Indian rupee.
• The RBI intervened in the foreign exchange market through dollar sales when the rupee came under pressure during the period of declining reserves.
• Foreign Currency Assets (FCA), the largest component of India’s forex reserves, increased by USD 9.946 billion to USD 574.625 billion during the week ended 7 August 2026.
• The dollar value of Foreign Currency Assets reflects the impact of appreciation or depreciation of non-US currencies, including the euro, pound and yen, held in India’s forex reserves.
• The RBI and Government of India introduced measures in July 2026, including the FCNR(B) scheme, to attract additional foreign exchange flows into India.
• India had reportedly received around USD 40 billion through these measures aimed at attracting forex inflows.
• The value of India’s gold reserves increased by USD 3.995 billion to USD 108.738 billion during the week ended 7 August 2026.
• India’s Special Drawing Rights (SDRs) increased by USD 79 million to USD 18.745 billion during the reporting week.
• India’s reserve position with the IMF increased by USD 116 million to USD 4.894 billion during the week ended 7 August 2026.

MobiKwik Shifts Entire Digital Lending Business to Wholly Owned Subsidiary MobiKwik Distribution Services Private Limited

• Fintech firm MobiKwik transferred its entire digital lending business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL).
• The transfer took place nearly four months after the Reserve Bank of India (RBI) approved the Group’s application for an NBFC licence in April 2026.
• The RBI approval was subject to the condition that MobiKwik’s Lending Service Provider (LSP) business be migrated to a wholly owned subsidiary before the Certificate of Registration (CoR) is issued.
• Manish Pathania was appointed Chief Business Officer (CBO) of MDSPL to lead the company’s lending vertical.
• The transfer followed a ₹60.5 crore equity infusion into MDSPL by its parent company, One MobiKwik Systems.
• MobiKwik expects more than ₹1,000 crore in quarterly loan disbursals, supported by AI-led growth initiatives and new lender partnerships.
• During Q1 FY2026-27, around 32% of MobiKwik’s disbursals were made through the distribution model, while the remaining disbursals were through the First Loss Default Guarantee (FLDG) model.
• Co-founder, Managing Director (MD) and Chief Executive Officer (CEO) of MobiKwik : Bipin Preet Singh

Finance Industry Development Council Seeks non-banking financial companies Industry Views on Reserve Bank of India’s Proposed Curbs on Revolving Credit Products

• The Finance Industry Development Council (FIDC), the Self-Regulatory Organisation (SRO) for the non-banking financial companies (NBFCs) sector, is collecting industry views on the RBI’s proposed restriction on revolving credit products.
• The Reserve Bank of India (RBI), in its draft guidelines issued on 6 August 2026, proposed that NBFCs should offer only term loans, effectively restricting revolving credit facilities.

Key Highlights :

• Under the proposed framework, a term loan would have a predetermined repayment schedule and a non-replenishing sanctioned limit.
• Once a borrower repays an amount under a term loan, the repaid amount cannot be borrowed again without undergoing fresh underwriting and sanction.
• The proposal would prevent NBFCs from offering facilities that allow borrowers to draw, repay and redraw funds within the same sanctioned credit limit.
• Revolving credit facilities are commonly used to meet short-term working-capital and liquidity requirements, particularly by MSMEs and individuals.
• The proposed restriction could affect credit products with an outstanding portfolio of more than ₹2 trillion.
• FIDC is expected to submit its formal feedback to the RBI within the prescribed deadline after consulting NBFCs involved in supply-chain finance, Loan Against Property (LAP) and MSME lending.
• The RBI’s proposal followed concerns raised by its supervisory department regarding revolving credit products offered by NBFCs during earlier inspection cycles.
• NBFCs stated that they had modified their products and processes after consultations with the RBI to address the regulator’s concerns.
• NBFCs argue that the affected revolving credit products have not shown widespread deterioration in credit quality or unusually high credit costs after these modifications.
• The industry estimates that the affected segment is growing at around 15–20% annually and could nearly double over the next four years.
• FIDC and NBFCs are likely to argue that a one-size-fits-all restriction could adversely affect legitimate working-capital and liquidity requirements, especially for MSMEs.
• NBFCs have raised concerns that the proposed restriction could create regulatory arbitrage in favour of banks, as banks would continue to offer similar working-capital and short-term liquidity facilities.

India’s Current Account Deficit Rises to $6.2 Billion in June: Reserve Bank of India

• According to the Reserve Bank of India (RBI), India’s Current Account Deficit (CAD) widened to USD 6.2 billion in June 2026, compared with a surplus of USD 1.2 billion in June 2025.
• The widening of the CAD was mainly driven by the increase in the merchandise trade deficit, which rose to USD 30.2 billion in June 2026 from USD 19.2 billion a year earlier.

Key Highlights :

• Merchandise exports increased to USD 41.2 billion in June 2026 from USD 35.3 billion, while merchandise imports rose to USD 71.4 billion from USD 54.5 billion.
• The services surplus increased to USD 17.9 billion in June 2026 from USD 16.2 billion in June 2025.
• Services exports rose to USD 36.4 billion, while services imports increased to USD 18.5 billion in June 2026.
• Net transfers increased to USD 11.9 billion in June 2026 from USD 10.9 billion in June 2025.
• The net income deficit narrowed to USD 5.8 billion in June 2026 from USD 6.8 billion a year earlier.
• On the capital account front, net inflows stood at USD 9.1 billion in June 2026, compared with an outflow of USD 1.6 billion in June 2025.
• Net Foreign Direct Investment (FDI) recorded an inflow of USD 1.3 billion in June 2026.
• Foreign Portfolio Investment (FPI) recorded a net inflow of USD 2.5 billion in June 2026.
• India’s overall balance remained positive at USD 2.9 billion in June 2026, compared with a deficit of USD 0.4 billion in June 2025.
• During April–June 2026, the merchandise trade deficit widened to USD 85.7 billion from USD 68.9 billion in the corresponding period of 2025.
• During April–June 2026, the services surplus increased to USD 52.2 billion from USD 47.9 billion.
• Net transfers rose to USD 41.4 billion during April–June 2026, compared with USD 30.9 billion in the year-ago period.
• The overall balance during April–June 2026 was negative at USD 8.1 billion, compared with a positive USD 4.5 billion in April–June 2025.

Yes Bank Returns to Bond Market After 2020 Additional Tier 1 Debt Write-Off

• Yes Bank Ltd. is planning to return to the international bond market for the first time since its Additional Tier 1 (AT1) debt write-off in 2020.
• Yes Bank has appointed arrangers for a proposed US dollar-denominated bond issue and plans to issue a benchmark-sized 3-year US dollar note.
• The proposed bond issue comes as several Indian banks have raised around USD 5.27 billion through international markets in the preceding two months.
• The increased overseas borrowing by Indian lenders has been supported by Reserve Bank of India (RBI) measures introduced in June 2026 to encourage capital inflows and support the Indian rupee.
• In March 2020, Yes Bank permanently wrote off Additional Tier 1 (AT1) bonds, which are hybrid bank capital instruments that can be written off when specified regulatory triggers are breached.
• Following the crisis in 2020, Indian authorities intervened to rescue Yes Bank through a restructuring led by State Bank of India (SBI).
• Yes Bank has since undergone a significant financial turnaround, supported by improving earnings and strengthening credit ratings.
• Sumitomo Mitsui Financial Group (SMFG)’s banking unit acquired approximately 25% stake in Yes Bank in 2025, becoming its largest shareholder.
• Crisil Ratings upgraded Yes Bank’s rupee infrastructure bonds and Basel III-compliant Tier 2 debt to AA+ in August 2026, from AA-, citing sustained improvement in the bank’s earnings profile.
• Yes Bank’s relevant bonds had been rated A- at the beginning of 2023, highlighting the bank’s improvement in credit quality.
• Yes Bank’s proposed US dollar bond is rated Ba1 by Moody’s Ratings and BB+ by S&P Global Ratings, both one notch below investment grade.
• The Indian bond and loan markets have strengthened amid increased US dollar demand from Indian banks, partly due to efforts to increase leverage against foreign-currency deposits from overseas Indians.
• The RBI introduced measures to attract foreign-currency deposits from India’s diaspora, helping to support the rupee and replenish India’s foreign-exchange reserves.
• India has attracted more than USD 50 billion from overseas citizens since June 2026, following the RBI’s measures.
• The RBI subsequently closed the special window for attracting foreign-currency deposits one month ahead of schedule, following strong inflows.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Conclave 2026 Held in New Delhi

• The Ministry of Food Processing Industries (MoFPI) is organising the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Conclave 2026 at the India Habitat Centre, New Delhi.
• The two-day conclave brings together more than 500 stakeholders to strengthen India’s micro food processing ecosystem and improve access to finance, technology, capacity building and markets.

Key Highlights

• Union Minister for Food Processing Industries Chirag Paswan inaugurated the conclave and the PMFME Bazaar, which features exhibitors from 25 States and Union Territories.
• The PMFME Bazaar showcases a diverse range of traditional, ethnic and region-specific food products, including processed foods, millet-based products, spices, pickles, snacks and beverages.
• The exhibition provides a national platform for micro food processing enterprises, Self-Help Groups (SHGs), Farmer Producer Organisations (FPOs), cooperatives and individual entrepreneurs to display products, connect with buyers and explore new markets.
• The initiative aims to help micro enterprises expand beyond local markets through branding, packaging, quality improvement, institutional procurement, modern retail, digital commerce and export opportunities.
• The conclave brings together representatives from States and Union Territories, District Nodal Officers, District Resource Persons, banks and financial institutions, government organisations, technical institutions, industry bodies, incubation centres and PMFME beneficiaries.
• A key highlight was the launch of a Coffee Table Book featuring 30 success stories of PMFME beneficiaries, showcasing successful entrepreneurial journeys from across India.
• The Ministry also launched ‘FoodNova’, a quarterly magazine covering developments, innovations, success stories and emerging trends in the food processing sector.
• Three Memoranda of Understanding (MoUs) were signed with the Agricultural and Processed Food Products Export Development Authority (APEDA), Open Network for Digital Commerce (ONDC) and NABKISAN to strengthen market and institutional linkages.
• These partnerships aim to expand domestic and export market access, promote digital commerce and create new commercial opportunities for micro food processing enterprises.
• The first day of the conclave included four thematic sessions covering access to finance and sustainability; incubation and entrepreneurship; domestic and global market linkages; and strengthening Self-Help Group-led food enterprises through clusters and institutional support.

About Ministry of Food Processing Industries:

• Cabinet Minister: Chirag Paswan
• Constituency: Hajipur, Bihar
• Ministers of State (MoS): Ravneet Singh

11 Airports of Airports Authority of India to be Leased under Public-Private Partnership Model

• The Government of India plans to lease 11 Airports Authority of India (AAI) airports to private operators under the Public-Private Partnership (PPP) model.
• The airports will be grouped into 5 bundles, with each bundle proposed to be awarded to a single private concessionaire for a 50-year concession period.

Key Highlights

• The Ministry of Civil Aviation (MoCA) proposed the transaction, while the Public Private Partnership Appraisal Committee (PPPAC) gave in-principal approval at its meeting held on 4 August 2026.
• The total investment expected from private concessionaires is estimated at ₹8,622 crore.
• The proposed airport bundles are:
• Amritsar + Kangra-Gaggal
• Raipur + Aurangabad
• Bhubaneswar + Hubballi
• Tiruchirappalli + Tirupati
• Varanasi + Gaya + Kushinagar
• The bundling approach is designed to enable cross-subsidisation, under which high-traffic and revenue-generating airports can support smaller regional airports with comparatively weaker financial performance.
• This is the first time the Government is proposing the bundling approach for airport privatisation.
• The PPPAC, chaired by Economic Affairs Secretary Anuradha Thakur, appraises major PPP projects in the Central sector.
• All 11 airports are currently operated by AAI.
• Airports were selected through a phased, data-driven assessment based on passenger traffic, land availability, commercial potential, financial performance and airport-specific factors.
• To prevent market concentration and excessive financial leverage, the Government plans to cap the number of bundles that can be awarded to a single bidder.
• The Ministry of Civil Aviation will conduct a market-sounding exercise to assess the interest of potential infrastructure players before finalising the proposal.
• The Government also proposes to broaden the bidder base by allowing companies with relevant cross-sector infrastructure experience, rather than restricting participation to existing aviation-infrastructure developers.
• Employee Protection: A one-year joint management period involving existing AAI employees will follow the award of the airports.
• Private concessionaires will subsequently be required to retain 60% of AAI employees for up to 3 years.
• The initiative aims to bring private capital, operational expertise and improved efficiency into airport infrastructure while protecting employee interests and preventing excessive market concentration.

About Ministry of Civil Aviation:

• Cabinet Minister: Kinjarapu Rammohan Naidu
• Constituency: Srikakulam, Andhra Pradesh
• Ministers of State (MoS): Murlidhar Mohol

Draft Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Rules, 2026 Released

• The Department of Atomic Energy (DAE) released the Draft Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Rules, 2026 for public consultation in August 2026.
• The deadline for submitting feedback is 4 September 2026.
• The Draft Rules seek to operationalise the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025, and provide detailed provisions on nuclear liability, insurance and financial security.
• The framework is important as India aims to expand its nuclear power capacity to 100 GW by 2047 while allowing greater private-sector participation.

Key Highlights

• India currently has 24 nuclear power reactors in commercial operation, excluding Rajasthan Atomic Power Station-1 (RAPS-1), with an installed capacity of 8,780 Megawatts (MW).
• The Government aims to increase nuclear capacity to around 22 GW by 2031–32 and subsequently to 100 GW by 2047.
• The Government has also announced the development of at least 5 indigenous Small Modular Reactors (SMRs) by 2033, including:
• 220 Megawatt Electric (MWe) Bharat Small Modular Reactor
• 55 MWe Small Modular Reactor
• High Temperature Gas-Cooled Reactor (HTGR) for hydrogen production.
• The Draft Rules propose a predictable nuclear liability and financial-protection framework to balance private investment, operator accountability, victim compensation and nuclear safety.
• Nuclear installation operators would bear strict liability for nuclear damage, meaning liability can arise without proving negligence or fault.
• Liability principles would also cover nuclear damage arising during the transportation of nuclear material.
• Where nuclear damage is attributable to multiple liable operators and cannot be separated, the SHANTI Act provides for joint and several liability, subject to statutory limits.
• Operators would be required to maintain insurance, financial security, or a combination of both against nuclear damage.
• Financial security would remain irrevocable and continue until all spent fuel is removed from the spent-fuel storage pool after removal from the reactor.
• Where shares, bonds or other financial instruments are used as security, the proposed framework provides for a 1:1.33 security margin.
• The framework also provides greater regulatory certainty for the deployment of foreign-designed nuclear reactors, subject to appropriate certification or regulatory approval and safety standards.
• Licensed nuclear facilities would need financial arrangements covering the entire lifecycle, including civil liability, spent-fuel management, radioactive-waste management, decommissioning and site remediation.
• Certain Central Government-owned nuclear installations may be exempted from obtaining insurance or financial security, with the Central Government assuming liability for attributable nuclear damage.
• The proposed framework provides for a five-year review mechanism for maximum civil-liability limits through an expert group involving expertise in nuclear science, engineering, actuarial science, insurance, law and public interest.
• Nuclear energy is considered important for energy security, decarbonisation and reliable low-carbon electricity, complementing renewable sources such as solar and wind.
• India’s nuclear expansion is also linked to its target of achieving Net Zero carbon emissions by 2070.
• India is pursuing a two-pronged nuclear expansion strategy involving:
• Large reactors, including indigenous 700 MWe Pressurised Heavy Water Reactors (PHWRs) and advanced imported reactor technologies.
• Small Modular Reactors (SMRs) for captive power, industrial applications, brownfield sites and other specialised uses.

Cabinet Committee on Economic Affairs Approves 4 Railway Multi-Tracking Projects Worth ₹9,450 Crore

• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved 4 railway multi-tracking projects of the Ministry of Railways with a total estimated cost of ₹9,450 crore.
• The projects cover 410 km across 8 districts in West Bengal, Odisha, Tamil Nadu and Andhra Pradesh, strengthening railway connectivity and capacity.

Key Highlights

• The approved projects include:
• Kharagpur–Bhadrak (Ranital) 4th Line: 173 km covering West Bengal and Odisha
• Bhadrak–Haridaspur 4th Line: 75 km in Odisha
• Gummidipundi–Gudur 3rd and 4th Lines: 90 km covering Andhra Pradesh and Tamil Nadu
• Cuttack–Paradeep (Badabandha) 3rd and 4th Lines: 72 km in Odisha
• The additional railway lines will help reduce congestion, improve operational efficiency, enhance service reliability and increase rail capacity.
• The projects are planned under the Prime Minister Gati Shakti National Master Plan, focusing on integrated planning, multi-modal connectivity and logistics efficiency.
• The projects will facilitate smoother movement of passengers, goods and services and strengthen connectivity between important economic centres.
• The enhanced railway network will benefit approximately 6,448 villages, covering a population of around 60 lakh people.
• The projects will improve rail connectivity to several major tourist and religious destinations, including Bhitarkanika National Park, Kuldiha Wildlife Sanctuary, Pulicat Lake, Nelapattu Bird Sanctuary, Chandipur Beach, Talsari–Udaypur, Lalitgiri, Dhabaleswar Temple, Sarala Temple, Maa Bhadrakali Temple and Maa Dhamarai Temple.
• The upgraded routes are important for transporting major commodities including coal, iron ore, cement, iron and steel, containers, automobiles and food grains.
• The capacity augmentation is expected to generate additional freight traffic of around 76 Million Tonnes Per Annum (MTPA).
• Railways, being an energy-efficient and environment-friendly mode of transportation, will support India’s climate goals and help reduce overall logistics costs.
• The projects are expected to reduce oil imports by approximately 13 crore litres and lower Carbon Dioxide (CO₂) emissions by around 65 crore kg.
• The estimated reduction in emissions is equivalent to the environmental benefit of planting approximately 2.60 crore trees.
• The projects support the vision of Atmanirbhar Bharat by improving infrastructure, facilitating economic activity and creating opportunities for employment and self-employment in the connected regions.

India’s Fifth Generation (5G) Adoption Projected to Reach 62% by 2030: Groupe Spécial Mobile Association (GSMA)

• India’s Fifth Generation (5G) adoption is projected to reach 62% by 2030, significantly higher than the Asia-Pacific (APAC) average of 50%, according to the Groupe Spécial Mobile Association (GSMA) Mobile Economy Asia Pacific 2026 report.
• The report identifies India as one of the region’s “Leading Nations”, along with Bangladesh, Indonesia and Pakistan, highlighting the importance of regulatory modernisation for digital-economy growth.
• Mobile technologies and services are expected to contribute around US$1.4 trillion to the APAC economy by 2030, compared with approximately US$1 trillion currently.

Key Highlights

• Mobile networks are increasingly becoming the foundation for Artificial Intelligence (AI) adoption, digital trust and resilient digital infrastructure.
• India’s information-security spending is projected to grow by 11.7% in 2026, reflecting the rising importance of digital trust and cybersecurity.
• The report highlights BharatNet and Pradhan Mantri Gramin Digital Saksharta Abhiyan (PMGDISHA) as important initiatives supporting internet adoption and digital participation in India.
• PMGDISHA has trained more than 64 million rural citizens in foundational digital skills.
• India’s connectivity coverage gap has declined from around 30% to less than 5% in South Asia, indicating a shift in the connectivity challenge from network coverage to usage and adoption.
• Across the wider APAC region, mobile operators are expected to invest more than US$200 billion in capital expenditure between 2025 and 2030.
• Despite mobile broadband coverage, more than 700 million adults in the APAC region remain offline, highlighting the continuing digital usage and adoption gap.

Digital Bharat Nidhi Signs Agreement for Amended BharatNet Programme in Chhattisgarh

• Digital Bharat Nidhi (DBN) under the Department of Telecommunications (DoT) has signed an agreement with the Government of Chhattisgarh, Chhattisgarh State BharatNet Infrastructure Limited, Bharat Sanchar Nigam Limited (BSNL) and Chhattisgarh Infotech Promotion Society (CHiPS) for implementing the Amended BharatNet Programme in Chhattisgarh.

Key Highlights

• The agreement was signed in New Delhi and marks an important step towards strengthening last-mile digital connectivity and promoting inclusive digital growth in the state.
• The programme will cover more than 11,000 Gram Panchayats across Chhattisgarh.
• More than 8,000 villages will be provided connectivity on a demand basis, further strengthening rural and last-mile broadband infrastructure.
• The Government of India has approved financial support of over ₹3,900 crore for implementation of the programme in Chhattisgarh.
• The initiative aims to expand access to high-speed internet and digital services in rural and remote areas.
• The programme is expected to support digital inclusion, e-governance, online education, telemedicine, digital financial services and other technology-enabled services in rural communities.
• The agreement is expected to accelerate the implementation of BharatNet infrastructure and improve connectivity between Gram Panchayats and villages.
• The initiative supports the broader vision of creating a digitally empowered society and knowledge-based economy.

About Chhattisgarh:

• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati, Kanger Valley, Guru Ghasidas National Parks
• Wildlife Sanctuaries: Achanakmar, Barnawapara, Udanti Wild Buffalo, Sitanadi Wildlife Sanctuaries

Odisha Government Approves 14 Investment Proposals Worth ₹2,780.1 Crore Across 10 Districts

• The Odisha Government has approved 14 investment proposals across 10 districts, involving a cumulative investment of ₹2,780.1 crore and generating an estimated 14,104 employment opportunities.
• The approvals were granted at the State Level Single Window Clearance Authority (SLSWCA) meeting chaired by Odisha Chief Secretary Anu Garg.
• The investments align with the state’s “Samruddha Odisha 2036” vision, aimed at accelerating industrialisation, employment generation and economic development.
• The approved projects cover diverse sectors including food processing, agro-processing, textiles and apparel, chemicals, pharmaceuticals, medical devices, electronics, steel and ferro alloys, steel downstream manufacturing and infrastructure.

Key Highlights

• Sahana Clothing Company Pvt. Ltd. will establish a ₹251.45 crore readymade garment manufacturing unit in Dhenkanal, with an employment potential of 5,104 jobs.
• Haldiram Snacks Food Pvt. Ltd. will invest ₹500 crore in a snacks and baked-products manufacturing unit, expected to generate 800 jobs.
• Tiwana Nutrition Global Pvt. Ltd. will invest ₹140 crore in a cattle-feed manufacturing unit, creating around 2,500 jobs.
• Premium Chick Feeds Pvt. Ltd. will establish a chick-feed manufacturing unit with an investment of ₹105.38 crore, generating 1,054 jobs.
• Pratima Agro Spinning Mill Pvt. Ltd. will invest ₹125 crore in a textile-processing unit in Balangir, focusing on cotton yarn and associated textile-waste products.
• Prasol Chemicals Ltd. will invest ₹450 crore in a phosphorus-based derivatives manufacturing plant in Ganjam.
• New Generation Manufacturing Pvt. Ltd. will establish a coal-tar distillation and by-products manufacturing plant in Sundargarh with an investment of ₹80 crore.
• Haasvan Rasayan Pvt. Ltd. will invest ₹55 crore in Nuapada for manufacturing bulk drug intermediates.
• The medical-device and electronics sectors will also receive investment, with Sastasundar Healthbuddy Ltd. proposing a ₹56 crore medical-device manufacturing unit in Khordha, while Syrma SGS Technology Ltd. will invest ₹300 crore in manufacturing Printed Circuit Board Assemblies (PCBAs) and box-build products in Khordha.
• Mahatripurasundari Minerals and Metals Pvt. Ltd. will establish an integrated complex in Keonjhar covering ferro alloys, chrome derivatives, metals recovery and chrome ore beneficiation, with an investment of ₹160 crore.
• In the steel downstream sector, Shree Jagannath Ispat Pvt. Ltd. will invest ₹90.94 crore in Cuttack, while NKS Earthbuild Ltd. will invest ₹60.98 crore in Dhenkanal for structural-steel manufacturing.
• Mahanadi Coalfields Ltd. (MCL) has proposed an investment of ₹405.35 crore to develop a private railway siding for the Subhadra Coal Mines in Angul, connecting it with existing and proposed railway infrastructure.
• The approvals are expected to strengthen industrial investment, employment generation, manufacturing capacity and sectoral diversification across Odisha.

About Odisha:

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

RECENT NEWS

• The state of Odisha, HCL Technologies (HCLTech) unveiled its intention to set up an AI-optimised data centre and a global technology centre in Bhubaneswar. The project was developed in collaboration with Sarvam AI and the Odisha Government and is estimated to cost ₹15,000 crore.

Rajasthan Government to Operate 4 Major Haats Under Public-Private Partnership (PPP) Model

• The Rajasthan Government has initiated the process to operate four major haats at Alwar, Pushkar, Jaisalmer and Nathdwara under the Public-Private Partnership (PPP) model.
• The initiative follows an announcement made by the Rajasthan Chief Minister on International Micro, Small and Medium Enterprises (MSME) Day on June 27, 2026.
• The haats will provide better marketing and sales platforms to artisans, weavers, women Self-Help Groups (SHGs) and small entrepreneurs.
• The initiative will focus on promoting One District One Product (ODOP), Geographical Indication (GI) products, handicrafts and handloom products.
• The proposed haats will offer facilities such as modern marketplaces, exhibitions, training programmes and accommodation for participating artisans and entrepreneurs.

Key Highlights

• The PPP model is expected to improve infrastructure, management and market connectivity, helping traditional producers obtain better and fairer prices for their products.
• Regular fairs, exhibitions, workshops and skill-development programmes will be organised to strengthen the capabilities and market reach of artisans.
• The initiative aims to create stronger linkages between traditional products, tourism and trade, particularly in Rajasthan’s major tourist destinations.
• The development of the four haats is expected to provide wider market access, improve income opportunities for artisans and promote Rajasthan’s traditional handicrafts and handloom sector.
• The initiative will also support the broader objective of making Rajasthan’s local products more competitive and accessible to national and international markets.

About Rajasthan:

• Chief Minister: Bhajan Lal Sharma
• Governor: Haribhau Bagade
• Capital: Jaipur
• National Parks: Ranthambore National Park, Sariska National Park, Keoladeo Ghana National Park, Desert National Park, Mukundra Hills National Park
• Wildlife Sanctuaries: Mount Abu Wildlife Sanctuary, Kailadevi Wildlife Sanctuary, Kesarbagh Wildlife Sanctuary, Todgarh-Raoli Wildlife Sanctuary, Jawahar Sagar Wildlife Sanctuary, Sitamata Wildlife Sanctuary, Ramgarh Vishdhari Wildlife Sanctuary, Bhensrodgarh Wildlife Sanctuary, Phulwari Wildlife Sanctuary

RECENT NEWS

• Central Government takes important steps against the outbreaks of the Chandipura Virus Disease (CHPV), it has sent a National Joint Outbreak Response Team (NJORT) to the states of Gujarat and Rajasthan.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Union Minister of State Jitin Prasada Undertakes Official Visit to Morocco from August 24–25, 2026

• Jitin Prasada, Union Minister of State (MoS), Ministry of Electronics and Information Technology (MeitY), undertook a two-day official visit to Morocco from 24–25 August 2026.
• Jitin Prasada co-chaired the 7th India-Morocco Joint Commission during his visit to Morocco.
• He also participated in the Morocco-India Joint Business Forum, organised by the General Confederation of Moroccan Enterprises (CGEM) in Casablanca, Morocco.
• India and Morocco announced plans to double bilateral trade over the next five years, with bilateral trade having crossed USD 4 billion in 2025.
• India and Morocco agreed to establish an India-Morocco Joint Working Group (JWG) to explore a Preferential Trade Agreement (PTA) between the two countries.
• The 8th session of the India-Morocco Joint Commission will be held in New Delhi, India, in 2027.
• The Food Safety and Standards Authority of India (FSSAI) signed a Memorandum of Understanding (MoU) with Morocco’s National Office of Food Safety (ONSSA) to strengthen cooperation in food safety.
• India and Morocco signed a Cultural Exchange Programme for 2026–2030 during the 7th India-Morocco Joint Commission.

About Morocco :

• Prime Minister : Aziz Akhannouch
• Capital : Rabat
• Currency : Moroccan dirham

United States-based financial services company,Charles Schwab Launches Schwab India with 345,000-Sq-Ft Technology Hub in Hyderabad

• Charles Schwab, a United States (US)-based financial services company, announced the opening of Schwab India, a new 45 lakh square feet technology capability centre in Hyderabad, Telangana.
• Schwab India will support Charles Schwab’s US business through technology development, engineering talent and operational capabilities.
• Charles Schwab plans to scale its Hyderabad workforce to around 2,000 employees by the end of 2027.
• As Schwab India expands, the company plans to bring selected technology capabilities currently supported by contractors in India into its in-house operations in Hyderabad.
• The new centre will strengthen Charles Schwab’s capabilities in technology, engineering and financial services operations.
• Telangana IT Minister D. Sridhar Babu inaugurated the facility along with senior Charles Schwab leadership.
• Key Charles Schwab officials present at the inauguration included Christopher Wyse, Managing Director and Chief Corporate Affairs Officer; Pradeep Menon, Managing Director and Country Head, Charles Schwab India; and Subba Perepa, Managing Director, Charles Schwab’s Global Capability Centre.
• Hyderabad has emerged as a major financial technology and financial services hub, with capabilities spanning wealth and asset management, market infrastructure, artificial intelligence (AI) and risk technology.

CURRENT AFFAIRS : DEFENCE NEWS

T-Hub Joins Hands with Army’s Central Command to Boost Defence Startup Deployments

• T-Hub (Technology Hub) partnered with the Central Command of the Indian Army (IA) to create a direct pathway for defence startups to develop, validate and deploy technologies addressing real-world military challenges.
• The Memorandum of Understanding (MoU) was signed in Hyderabad, Telangana.
• The MoU-signing ceremony was attended by Lieutenant General C. J. Jayachandran, Chief of Staff (CoS), Central Command, Indian Army, and Kavikrut, Chief Executive Officer (CEO), T-Hub.
• Under the partnership, T-Hub will receive operational problem statements from the Central Command and identify suitable defence startups to develop solutions.
• The partnership connects defence startups with Indian Army operational requirements, enabling startups to develop technologies based on actual military problem statements.
• Selected startups will work directly with Indian Army stakeholders on product development, testing, validation and deployment readiness.
• Startups will incorporate operational feedback from Army personnel to refine their technologies and ensure that solutions meet real-world defence requirements.
• A Joint Oversight Committee will monitor the programme and coordinate engagements between startups and Army stakeholders.
• The initiative aims to create a pathway for viable defence technologies to move from innovation and development to validation and deployment.
• The partnership builds on T-Hub’s existing collaboration with the Western Command of the Indian Army and strengthens its engagement with the armed forces at the Command level.

About T-Hub :

• T-Hub is a startup incubator and innovation hub, founded and incorporated in 2015, and headquartered in Hyderabad, Telangana.
• CEO : Kavikrut
• T-Hub is among 28 organisations selected to implement the Ministry of Defence’s Innovations for Defence Excellence (iDEX) scheme.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Pharmacopoeia Commission Holds First Interactive Meeting with Central Drugs Laboratory Kolkata to Strengthen Medicine Quality Standards

• The Indian Pharmacopoeia Commission (IPC), under the Ministry of Health and Family Welfare (MoHFW), launched 7 Indian Pharmacopoeia Nitrosamine Impurities Reference Standards for the first time.
• The new reference standards are aimed at strengthening the accurate detection and quantification of carcinogenic impurities in pharmaceutical products.
• The standards were launched at an interactive meeting titled “IP 2026: Perspectives, Suggestions, & Way Forward”, organised by IPC at the Central Drugs Laboratory (CDL) and Central Cosmetics Laboratory (CCL) in Kolkata, West Bengal.
• The 7 Nitrosamine Impurities Reference Standards launched by IPC are NDMA, NDEA, NEIPA, NDBA, NMPA, NDIPA and NMBA.
• N-Nitrosodimethylamine (NDMA) is one of the newly launched nitrosamine reference standards used for pharmaceutical impurity testing.
• N-Nitrosodiethylamine (NDEA) is included among the 7 new Indian Pharmacopoeia reference standards for nitrosamine impurity detection.
• N-Nitrosoethylisopropylamine (NEIPA) is one of the 7 nitrosamine impurities for which IPC has introduced a reference standard.
• N-Nitrosodibutylamine (NDBA) is included in the newly launched nitrosamine reference standards.
• N-Nitrosomethylphenylamine (NMPA) is one of the 7 reference standards introduced by IPC.
• N-Nitrosodiisopropylamine (NDIPA) is included among the newly launched Indian Pharmacopoeia Nitrosamine Impurities Reference Standards.
• N-Nitroso-N-methyl-4-aminobutyric acid (NMBA) is the seventh nitrosamine reference standard launched by IPC.
• Nitrosamines are highly potent genotoxic and carcinogenic compounds that can unintentionally arise during manufacturing, storage and packaging of pharmaceutical products.
• Nitrosamine contamination can also occur through materials used in pharmaceutical production, making their accurate detection important for drug safety.
• The new reference standards will support pharmaceutical testing, analytical method validation, quality assurance and regulatory compliance.
• The initiative will promote harmonisation with international pharmaceutical quality standards and strengthen India’s self-reliance in critical reference materials.

About Indian Pharmacopoeia Commission (IPC) :

• Headquarters : Ghaziabad, Uttar Pradesh (UP)
• The IPC is an autonomous institution under the Ministry of Health and Family Welfare (MoHFW).
• IPC was established in 2005 to strengthen the quality standards of medicines in India.
• IPC became fully operational on 1 January 2009.
• The primary responsibility of IPC is to prepare and publish the Indian Pharmacopoeia (IP).

Defence Research and Development Organisation Successfully Tests Indigenous High-Altitude Military Combat Parachute System in Ladakh

• The Defence Research and Development Organisation (DRDO) successfully tested the Military Combat Parachute System (MCPS), an indigenous high-altitude parachute, at the Nyoma-Mudh Drop Zone, Leh, Ladakh.
• The MCPS demonstrated safe jumps from an altitude of 22,000 feet Above Mean Sea Level (AMSL) under extremely cold conditions of −15°C.
• The successful test demonstrated the system’s suitability for special operations and high-altitude military missions.
• The MCPS has been designed by the Aerial Delivery Research and Development Establishment (ADRDE), Agra, Uttar Pradesh.
• The life-support systems for the MCPS were developed by the Defence Bioengineering and Electromedical Laboratory (DEBEL), Bengaluru, Karnataka.
• Test jumpers Rahul Jha, J. Singh and Vivek Tiwari successfully conducted jumps using the MCPS.
• The test involved the use of indigenous subsystems, including a para computer, oxygen system and specialised jumpsuits, demonstrating a high level of indigenisation.
• The MCPS offers a lower descent rate, enabling safer and more controlled high-altitude parachute operations.
• The system provides improved steering capability, allowing parachutists greater control during descent.
• The MCPS is compatible with Navigation with Indian Constellation (NavIC), India's indigenous satellite navigation system.
• The parachute system supports both High Altitude Low Opening (HALO) and High Altitude High Opening (HAHO)

About DRDO:

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

SpaceX Announces USD 100 Billion Rocket Launch Complex in Southern Louisiana

• SpaceX announced an investment of USD 100 billion to build its largest rocket launch complex in southern Louisiana, USA.
• The new facility has been named ‘Starbase Louisiana’ and is planned as a major expansion of SpaceX’s Starship launch infrastructure.
• Starbase Louisiana is being developed as a self-sustaining spaceport capable of supporting thousands of Starship flights
• The facility is expected to support missions to Earth orbit, the Moon, Mars and beyond, expanding SpaceX’s long-term space exploration capabilities.
• SpaceX plans to begin construction of the 125,000-acre Starbase Louisiana site in 2027.
• The first Starship launch from Starbase Louisiana is targeted for 2029.
• Once operational, Starbase Louisiana would become SpaceX’s fourth launch site in the United States.
• It would also become SpaceX’s second Starship-focused launch complex, after Starbase Texas.
• The project represents a major expansion of SpaceX’s launch capacity and is aimed at supporting future high-frequency Starship missions.
• SpaceX is a private American aerospace manufacturer and space transportation company founded in 2002 by Elon Musk.

Air India Enters Interline Partnership with Drukair to Boost India-Bhutan Connectivity

• Air India, the Tata Group-owned global airline, entered into an interline partnership with Drukair – Royal Bhutan Airlines, the national flag carrier of Bhutan, to strengthen connectivity between India, Bhutan and international destinations.
• The partnership allows passengers to travel on single-ticket itineraries with through-transfer of passengers and baggage, competitive interline fares and convenient connections across both airlines’ networks.
• Air India passengers can travel to Paro, Bhutan, via Delhi from Air India’s international network and connect onward with Drukair to Bhutanese domestic destinations such as Bumthang, Gelephu and Yonphula.
• Drukair passengers can access Air India’s network through Delhi, Guwahati and Kolkata, connecting to major Indian cities such as Bengaluru, Mumbai and Kochi.
• Through the partnership, Drukair passengers can also connect to international destinations including Paris, Frankfurt, London, New York, Melbourne, San Francisco, Sydney, Toronto and Vancouver.
• The interline partnership is expected to improve passenger convenience, while supporting tourism, business travel and regional connectivity between India and Bhutan.
• The agreement enables Air India to provide seamless connectivity to nearly all SAARC countries through its own network or partner airlines.

About Drukair :

• Drukair – Royal Bhutan Airlines is the national flag carrier of Bhutan and is headquartered in Paro, Bhutan.
• Chief Executive Officer (CEO) : Tandi Wangchuk .

Indian Institute of Creative Technologies and Netflix Announce Scholarships for 100 Students and Professionals Under Storytelling Initiative

• The Indian Institute of Creative Technologies (IICT) and Netflix announced scholarships for 100 students and working professionals across India under the Netflix India Storytelling Initiative.
• The scholarship provides up to 80% financial support for six professional programmes in the Animation, Visual Effects, Gaming, Comics and Extended Reality (AVGC-XR)
• The initiative aims to develop industry-ready creative talent and strengthen India’s AVGC-XR sector.
• IICT is India’s premier national Centre of Excellence (CoE) dedicated to the AVGC-XR sector.
• The scholarship covers two one-year diploma programmes: Interactive Comics & Sequential Arts and Visual Effects Mastery.
• The initiative also covers four six-month certificate programmes: Virtual Art Department Content Creation, Media Tech Workflow, Art of Character Animation, and E-Sports & Gaming Management.
• The Visual Effects Mastery and Media Tech Workflow curricula were developed with Netflix inputs to align with global industry workflows and standards.
• The scholarship initiative is part of the Netflix India Storytelling Initiative, focusing on building creative and technical skills for the entertainment and digital media industry.

About Netflix : 

• Headquarters : California, USA.
• Ted Sarandos and Greg Peters are the leaders of Netflix.

National Aeronautics and Space Administration Set to Launch Nancy Grace Roman Space Telescope

• The National Aeronautics and Space Administration (NASA) is preparing to launch the Nancy Grace Roman Space Telescope, a next-generation flagship space observatory, on 30 August 2026.
• The Roman Space Telescope is scheduled to launch aboard a SpaceX Falcon Heavy rocket from the Kennedy Space Center, Florida, USA.
• The telescope is designed to investigate major mysteries of the universe, particularly Dark Matter and Dark Energy, and to test Einstein’s theory of gravity on very large cosmic scales.
• Roman’s field of view will be at least 100 times larger than that of the Hubble Space Telescope, enabling it to observe a much wider region of the universe.
• Roman is expected to survey more than 2 billion galaxies, helping scientists study the structure, evolution and expansion of the universe.
• After launch, Roman will travel to the Sun–Earth Lagrange Point 2 (L2), located approximately 6 million kilometres from Earth.
• The L2 region is also where the James Webb Space Telescope (JWST) operates, allowing both observatories to conduct complementary observations.
• The Roman Space Telescope has a primary mission lifetime of 5 years, with a goal of operating for up to 10 years.
• Roman’s scientific data will eventually be made publicly available after the necessary processing, supporting wider astronomical research.
• The telescope is named after Nancy Grace Roman, who was NASA’s first chief astronomer and is widely regarded as the “Mother of Hubble.”
• Roman will complement the Hubble Space Telescope and James Webb Space Telescope by providing powerful wide-field infrared observations of the universe.

CURRENT AFFAIRS : OBITUARIES

Women’s Rights Activist and Former  All India Democratic Women’s Association Maharashtra Secretary Sonya Gill Passed away at 70

• Sonya Gill, a prominent women’s rights activist and former Maharashtra Secretary of the All India Democratic Women’s Association (AIDWA), passed away on 25 August 2026 at the age of 70 in Mumbai, Maharashtra.
• Sonya Gill was the co-founder and trustee of People’s Archive of Rural India (PARI), a digital platform documenting rural India.
• She founded PARI in December 2014 along with her husband, renowned journalist Sainath.
• Gill remained associated with PARI as a trustee and was remembered for her courage, dedication and strong work ethic.
• She served as the Secretary of the Maharashtra unit of AIDWA, where she focused on the ideological and organisational training of women activists.
• During her early years of activism, she highlighted women’s issues in areas including Mumbai’s BDD chawls, Jijamata Nagar and Delisle Road.
• She was known for her long-standing contribution to women’s rights, grassroots activism and social causes.
• Sonya Gill was also remembered as a mentor to hundreds of activists associated with the Communist Party of India (Marxist).

CURRENT AFFAIRS: SPORTS NEWS

R Praggnanandhaa Becomes First Indian to Win Grand Chess Tour Title

• Grandmaster R Praggnanandhaa became the first Indian to win the Grand Chess Tour (GCT) title, defeating Fabiano Caruana of the United States in the grand finale at the Saint Louis Chess Club.

Key Highlights

• Praggnanandhaa made a remarkable comeback after starting the final day 6 points behind Caruana and eventually won the match 15–13.
• He secured his maiden Grand Chess Tour title and received a USD 200,000 winning prize.
• The Indian Grandmaster won both rapid games, earning 4 points per win, which helped him overturn the six-point deficit and establish a 2-point lead.
• In the subsequent four blitz games, Praggnanandhaa and Caruana won one game each, while two games ended in draws.
• The final score stood at 15–13 in favour of Praggnanandhaa, making him the first Indian Grand Chess Tour champion.
• The victory also earned Praggnanandhaa a place in the next edition of the Grand Chess Tour, alongside Fabiano Caruana and Wesley So.
• Wesley So (United States) defeated Vincent Keymer (Germany) 18–12 to finish third.
• Praggnanandhaa, a 21-year-old Grandmaster from Chennai, has been mentored by five-time World Chess Champion Viswanathan Anand.
• Earlier in 2026, Praggnanandhaa became the first Indian to win the Norway Chess title, including two victories over World No. 1 Magnus Carlsen.

CURRENT AFFAIRS: IMPORTANT DAYS

Partition Horrors Remembrance Day Observed on August 14 to Honour Victims of Partition

• The Government of India has designated August 14 every year as Partition Horrors Remembrance Day (Vibhajan Vibhishika Smriti Diwas).
• The day commemorates the sufferings, sacrifices and deaths of people affected by the Partition of India in 1947.
• The observance was announced by Prime Minister Narendra Modi on August 14, 2021, ahead of India’s 75th Independence Day.
• The day aims to remind present and future generations of the pain, displacement and violence experienced during the Partition.
• The Partition of India in 1947 resulted in one of the largest migrations in human history, affecting around 20 million people.
• Millions of people were forced to leave their ancestral homes, villages, towns and cities and resettle as refugees across the newly created borders.
• The observance seeks to remember those who lost their lives and were displaced due to violence, hatred and communal tensions during the Partition.
• Partition Horrors Remembrance Day also promotes the values of national unity, social harmony, human dignity and brotherhood.
• The day aims to create awareness about the dangers of social divisions, disharmony, discrimination and hatred and strengthen the spirit of oneness.

World Senior Citizens Day 2026 Observed on August 21

• World Senior Citizens Day is observed annually on August 21 to recognise the contributions, wisdom and life experiences of older adults.
• The day aims to promote dignity, respect, social inclusion, healthy ageing and the rights and well-being of senior citizens.
• The observance highlights the need to address key concerns affecting older people, including healthcare access, emotional well-being, financial security, accessibility and elder rights.
• It encourages families, schools and communities to promote respect for senior citizens and strengthen intergenerational relationships.
• The day also draws attention to the importance of creating supportive, inclusive and age-friendly societies as populations continue to age in many parts of the world.
• World Senior Citizens Day 2026 will be observed on August 21, 2026.
• The observance serves as an opportunity to acknowledge the role of senior citizens in families, communities and society while raising awareness about the challenges associated with ageing.

Daily CA One- Liner: August 29

• The Ministry of Food Processing Industries (MoFPI) is organising the Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME) Conclave 2026 at the India Habitat Centre, New Delhi
• The Government of India plans to lease 11 Airports Authority of India (AAI) airports to private operators under the Public-Private Partnership (PPP) model
• The Department of Atomic Energy (DAE) released the Draft Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Rules, 2026 for public consultation in August 2026
• The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved 4 railway multi-tracking projects of the Ministry of Railways with a total estimated cost of ₹9,450 crore
• India’s Fifth Generation (5G) adoption is projected to reach 62% by 2030, significantly higher than the Asia-Pacific (APAC) average of 50%, according to the Groupe Spécial Mobile Association (GSMA) Mobile Economy Asia Pacific 2026 report
• Digital Bharat Nidhi (DBN) under the Department of Telecommunications (DoT) has signed an agreement with the Government of Chhattisgarh, Chhattisgarh State BharatNet Infrastructure Limited, Bharat Sanchar Nigam Limited (BSNL) and Chhattisgarh Infotech Promotion Society (CHiPS) for implementing the Amended BharatNet Programme in Chhattisgarh
• The Odisha Government has approved 14 investment proposals across 10 districts, involving a cumulative investment of ₹2,780.1 crore and generating an estimated 14,104 employment opportunities
• The Rajasthan Government has initiated the process to operate four major haats at Alwar, Pushkar, Jaisalmer and Nathdwara under the Public-Private Partnership (PPP) model
• Grandmaster R Praggnanandhaa became the first Indian to win the Grand Chess Tour (GCT) title, defeating Fabiano Caruana of the United States in the grand finale at the Saint Louis Chess Club
• The Government of India has designated August 14 every year as Partition Horrors Remembrance Day (Vibhajan Vibhishika Smriti Diwas).
• World Senior Citizens Day is observed annually on August 21 to recognise the contributions, wisdom and life experiences of older adults.
• Pradhan Mantri Jan Dhan Yojana (PMJDY) was launched by Prime Minister Narendra Modi on 28 August 2014 as the National Mission on Financial Inclusion.
• The Ministry of Commerce and Industry reported that 29 foreign direct investment (FDI) projects worth ₹4,895.65 crore had been reported under India’s revised FDI framework up to 20 August 2026.
• WhatsApp Pay, the UPI transaction service of Meta’s WhatsApp in India, processed 89 million UPI transactions worth ₹12,957.07 crore in July 2026.
• According to the Reserve Bank of India (RBI), India’s foreign exchange (forex) reserves increased by USD 14.136 billion to USD 707.002 billion during the week ended 7 August 2026.
• Fintech firm MobiKwik transferred its entire digital lending business to its wholly owned subsidiary, MobiKwik Distribution Services Private Limited (MDSPL).
• The Finance Industry Development Council (FIDC), the Self-Regulatory Organisation (SRO) for the non-banking financial companies (NBFCs) sector, is collecting industry views on the RBI’s proposed restriction on revolving credit products.
• According to the Reserve Bank of India (RBI), India’s Current Account Deficit (CAD) widened to USD 6.2 billion in June 2026, compared with a surplus of USD 1.2 billion in June 2025.
• Yes Bank Ltd. is planning to return to the international bond market for the first time since its Additional Tier 1 (AT1) debt write-off in 2020.
• Jitin Prasada, Union Minister of State (MoS), Ministry of Electronics and Information Technology (MeitY), undertook a two-day official visit to Morocco from 24–25 August 2026.
• Charles Schwab, a United States (US)-based financial services company, announced the opening of Schwab India, a new 45 lakh square feet technology capability centre in Hyderabad, Telangana.
• T-Hub (Technology Hub) partnered with the Central Command of the Indian Army (IA) to create a direct pathway for defence startups to develop, validate and deploy technologies addressing real-world military challenges.
• The Indian Pharmacopoeia Commission (IPC), under the Ministry of Health and Family Welfare (MoHFW), launched 7 Indian Pharmacopoeia Nitrosamine Impurities Reference Standards for the first time.
• The Defence Research and Development Organisation (DRDO) successfully tested the Military Combat Parachute System (MCPS), an indigenous high-altitude parachute, at the Nyoma-Mudh Drop Zone, Leh, Ladakh.
• SpaceX announced an investment of USD 100 billion to build its largest rocket launch complex in southern Louisiana, USA.
• Air India, the Tata Group-owned global airline, entered into an interline partnership with Drukair – Royal Bhutan Airlines, the national flag carrier of Bhutan, to strengthen connectivity between India, Bhutan and international destinations.
• The Indian Institute of Creative Technologies (IICT) and Netflix announced scholarships for 100 students and working professionals across India under the Netflix India Storytelling Initiative.
• The National Aeronautics and Space Administration (NASA) is preparing to launch the Nancy Grace Roman Space Telescope, a next-generation flagship space observatory, on 30 August 2026.
• Sonya Gill, a prominent women’s rights activist and former Maharashtra Secretary of the All India Democratic Women’s Association (AIDWA), passed away on 25 August 2026 at the age of 70 in Mumbai, Maharashtra.