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Current Affairs 11 August 2026 - Daily News for UPSC, SSC, Banking | Current Affairs Pulse
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11 August 2026
11 August 2026
61 articles
15 high importance
61 with quiz
All (61)
Polity & Governance (7)
Environment (11)
Defence (1)
Ranks & Reports (2)
International (5)
Schemes & Committees (6)
Science & Tech (6)
Economy (7)
Agreements & MoUs (1)
History & Culture (1)
Important Days (2)
National (4)
Summits & Conferences (1)
Banking & Finance (2)
Awards & Honours (1)
State News (1)
Sports (1)
Appointments (2)
Polity & Governance
Medium
quiz
Quiz
Maharashtra FDA Issues First Surrogate-Advertising Notices to Three Film Actors
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Maharashtra's Food and Drug Administration issued show-cause notices on 11 August 2026 to actors Shah Rukh Khan, Ajay Devgn and Tiger Shroff over an advertisement for Vimal Elaichi.
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The regulator alleges the advertisement amounts to surrogate promotion of Vimal Pan Masala, a product prohibited in Maharashtra, and says this is the first time it has examined surrogate advertising.
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The notices invoke Sections 24 and 53 of the Food Safety and Standards Act, 2006 and the FSS (Advertising and Claims) Regulations, 2018, and give the endorsers 15 days to reply.
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Environment
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28.3 Percent of Odisha's Coastline Is Eroding, Government Tells Rajya Sabha
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Union Minister for Ports, Shipping and Waterways Sarbananda Sonowal told the Rajya Sabha that 28.3 per cent of Odisha's 564.14-km coastline is eroding.
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The figure comes from a shoreline change assessment by the National Centre for Coastal Research for the period 1990 to 2022.
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Alongside the eroding stretch, 54.1 per cent of the coastline is accreting and 17.6 per cent is stable.
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Polity & Governance
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Supreme Court Asks 19 States and UTs to Consider Declaring Cancer a Notifiable Disease
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On 11 August 2026 the Supreme Court directed the 19 States and Union Territories that have not yet done so to consider declaring cancer a notifiable disease.
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A bench of Chief Justice Surya Kant, Justice Joymalya Bagchi and Justice V. Mohana was hearing the PIL Anurag Srivastava v. Union of India, W.P.(C) No. 1211/2025.
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The Court was told that 17 of the 36 States and UTs had already notified cancer, acting on the 139th Report of the Parliamentary Standing Committee on Health and Family Welfare.
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Defence
Medium
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Russia Pitches Su-57E to India with Kh-69, R-37M and Kinzhal Missile Package
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Reports on 11 August 2026 described a renewed Russian push to sell the Su-57E fifth-generation fighter to India, bundled with advanced air-launched missiles.
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The package centres on the Kh-69 stealth cruise missile, offered to India at a range of about 290 km, alongside the R-37M long-range air-to-air missile and hypersonic options including the Kh-47M2 Kinzhal.
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Russia has offered technology transfer including source codes, an initial import of ready-to-fly aircraft and licensed production at HAL's Nashik plant, which already builds Su-30MKIs.
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Environment
Medium
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Gangaichthys indonepalicus: First Subterranean Fish Described from Gangetic Basin Aquifers in Bihar
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A new genus and species of miniature earthworm eel, Gangaichthys indonepalicus, was formally described in the journal ZooKeys on 11 August 2026.
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It is the first subterranean, or stygobitic, fish recorded from the alluvial aquifers of the Gangetic Basin and the Indo-Gangetic Plain.
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All three known specimens came from borewells in Bihar; the animal is about four centimetres long.
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Environment
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Great Barrier Reef Coral Cover Rebounds to 35.1% in the North: AIMS Report
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The Australian Institute of Marine Science released its 2025/26 Long-Term Monitoring Program Annual Summary Report on 11 August 2026.
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Hard coral cover in the Northern Great Barrier Reef rose to 35.1%, up from a record low of 30% in 2025.
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The Central region improved from 28.6% to 31.6%, while the Southern region slipped from 26.9% to 26.4%.
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Ranks & Reports
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Ambani Family Tops 2026 Hurun India Most Valuable Family Businesses List
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The 2026 Barclays Private Clients Hurun India Most Valuable Family Businesses List was released on 11 August 2026, with all valuations frozen as of 30 June 2026.
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The Ambani family (Reliance Industries) retained the top rank at Rs 25,82,800 crore, ahead of the Birla family (Rs 8,13,700 crore) and the Jindal family (Rs 8,01,800 crore).
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India's 300 most valuable family businesses are together worth Rs 138 lakh crore (USD 1.46 trillion) - up 27.5% and nearly Rs 30 lakh crore since the 2024 edition, an average of Rs 4,076 crore added every day.
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International
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India, Liberia Deepen Women-Led Development Ties via Peer Learning Mission
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Union Minister for Women and Child Development Annpurna Devi met a Liberian parliamentary delegation and the Women's Legislative Caucus of Liberia in New Delhi.
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The delegation, led by Ellen A. Attoh-Wreh, is in India from 10 to 15 August 2026 on a South-South Peer Learning Mission supported by UN Women.
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Discussions covered women's political representation, gender-responsive governance and budgeting, prevention of violence against women, and women's leadership in local government.
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Schemes & Committees
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Fish Production Reaches 197.75 Lakh Tonnes; 91.1% of Assessed Marine Stocks Found Sustainable
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India's annual fish production rose from 147.25 lakh tonnes in 2020-21 to 197.75 lakh tonnes in 2024-25.
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Marine product exports in 2025-26 stood at 19.72 lakh metric tonnes valued at Rs 73,890 crore, or USD 8.46 billion, shipped to over 128 countries.
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As per ICAR-CMFRI's Marine Fish Stock Status of India (2022), 91.1% of the 135 assessed stocks in India's EEZ are at sustainable levels.
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Science & Tech
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Budget 2026-27 Announces Rare Earth Corridors in Four States; Odisha Roadmap Adds Marine Biotech and Space
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The Union Budget 2026-27 announced dedicated Rare Earth Corridors in Odisha, Kerala, Andhra Pradesh and Tamil Nadu.
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The corridors focus on mining, processing, research and manufacturing to build an integrated domestic rare earth value chain.
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The Institute of Life Sciences, Bhubaneswar, under the Department of Biotechnology, will expand with an additional 50 acres from the Odisha Government.
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Schemes & Committees
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Farm Mechanisation: 40-50% Subsidy on Machines, 95% Support for Farm Machinery Banks in the North East
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The Sub-Mission on Agricultural Mechanization (SMAM) operates under the Rashtriya Krishi Vikas Yojana umbrella, implemented through State Governments.
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Farmers receive financial assistance of 40-50% of the cost of agricultural machinery.
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Custom Hiring Centres get 40% of project cost for projects up to Rs 250 lakh; Farm Machinery Banks get 80% for projects up to Rs 30 lakh, raised to 95% for North Eastern States.
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Environment
Medium
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Urban Flood Risk Management Programme Covers 18 Cities; Central Team Studies Himachal Cloudbursts
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Phase-I of the Urban Flood Risk Management Programme covers seven cities with an outlay of Rs 3,075.65 crore.
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Phase-II covers eleven more cities with an outlay of Rs 2,444.42 crore.
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Both phases are financed through the National Disaster Mitigation Fund and implemented by the concerned State Governments.
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Economy
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National Waterways Carry 218 Million Tonnes; Coastal Cargo Promotion Scheme Targets 12% Modal Share by 2047
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Cargo movement on National Waterways reached 218 million metric tonnes in FY 2025-26.
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The Union Budget 2026-27 announced a Coastal Cargo Promotion Scheme to raise the combined modal share of coastal shipping and inland waterways from 6% to 12% by 2047.
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The Jalvahak scheme gives a 35% incentive to cargo owners and introduces scheduled services on NW-1, NW-2 and NW-16.
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Schemes & Committees
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20,149 Jan Aushadhi Kendras and Rs 37,200 Crore in Citizen Savings; Out-of-Pocket Health Spend Falls to 43.4%
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A total of 20,149 Jan Aushadhi Kendras had been opened across the country as on 30 June 2026 under the PMBJP.
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Sales of Rs 7,873.85 crore between 2021-22 and 2025-26 produced savings of about Rs 37,200 crore for citizens.
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The product basket covers 2,110 medicines and 315 surgicals, consumables and devices.
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Polity & Governance
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NIRDPR Study on Low Gram Sabha Participation, as eGramSwaraj Links Panchayats to PFMS, GeM and BHASHINI
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The Ministry of Panchayati Raj released a National Study Report on Low Participation in Gram Sabha on 30 June 2026, prepared by NIRDPR.
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The study identifies livelihood constraints, weak awareness, poor grievance responsiveness and inadequate follow-up as the main causes.
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For women it additionally found household responsibilities, social hesitation and male dominance during discussions to be barriers.
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Schemes & Committees
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Anemia Mukt Bharat Abhiyaan Moves to a 7x7x7 Framework and a Test-Treat-Talk-Track Approach
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The Government released the Anemia Mukt Bharat Abhiyaan Operational Guidelines at the 16th Central Council of Health and Family Welfare meeting on 29 June 2026.
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The programme moves from the earlier 6x6x6 strategy to a 7x7x7 framework.
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The approach shifts from T3 — Test, Treat, Talk — to T4, adding Track.
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Economy
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PM MITRA Parks: All 7 Sites Get Land and Clearances, Rs 68,590 Crore Investment Interest Received
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Seven PM Mega Integrated Textile Region and Apparel (PM MITRA) Parks have been approved with an outlay of Rs 4,445 crore for 2021-22 to 2027-28.
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The sites are in Tamil Nadu, Telangana, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh and Maharashtra.
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MoUs have been signed with all states and 100% of the land has been acquired at every site.
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Agreements & MoUs
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'Bharat GI': MSME Ministry and DPIIT Sign MoU to Take GI Products to ONDC and GeM
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The Ministry of MSME and DPIIT signed an MoU on 5 August 2026 at Vanijya Bhawan, New Delhi, to commercialise India's Geographical Indication products.
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GI collectives and authorised users will be onboarded onto ONDC and GeM under a dedicated 'Bharat GI' banner.
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DPIIT is the nodal department for GI registration under the Geographical Indications of Goods (Registration and Protection) Act, 1999.
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Economy
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MSMED (Amendment) Bill, 2026: Turnover Added to Classification, TReDS Made Mandatory for CPSEs
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Parliament passed the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026 in August 2026, amending the MSMED Act, 2006.
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MSME classification will now rest on both investment in plant, machinery or equipment and on turnover.
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All Central Public Sector Enterprises must settle MSME invoices through the TReDS platform.
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Economy
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India Becomes the World's Leading Ship Recycling Nation with 35.4% Global Share
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India became the world's leading ship recycling nation in 2025, according to UNCTAD.
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India's global market share rose from 30.1% in 2024 to 35.4% in 2025.
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Recycling volume grew from 1.86 million gross tonnes to 2.99 million gross tonnes, close to 60% growth.
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Economy
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Container Manufacturing Assistance Scheme: Rs 10,000 Crore to End India's Dependence on Imported Containers
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The Government has announced a Rs 10,000 crore Container Manufacturing Assistance Scheme (CMAS), proposed in the Union Budget 2026-27, to build a domestic shipping container industry.
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India currently imports nearly 2 million empty containers every year, leaving container availability exposed to global freight volatility.
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CMAS targets annual domestic capacity of up to 7.5 lakh TEUs — around ten times existing capacity — over five years.
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History & Culture
Medium
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Sri Aurobindo's 154th Birth Anniversary Falls on Independence Day, August 15
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Sri Aurobindo's 154th birth anniversary will be observed on August 15, 2026, coinciding with India's Independence Day.
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He was born Aurobindo Ghose on August 15, 1872 in Calcutta.
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He qualified in the Indian Civil Service examination but did not join, having not completed the horse-riding test.
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Important Days
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Partition Horrors Remembrance Day: August 14 Marks the Human Cost of 1947
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Partition Horrors Remembrance Day, or Vibhajan Vibhishika Smriti Diwas, is observed on August 14.
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The Government of India declared the day in 2021 to remember those killed, displaced or subjected to violence during the 1947 Partition.
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Partition produced one of the largest mass migrations in modern history.
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National
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India Adds 27 Standardised Arunachal Place Names to Official Survey of India Maps
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The Centre has formally identified 27 places and geographical features in Arunachal Pradesh by their standard names on official Indian maps.
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The names were standardised and incorporated into Survey of India maps after consultation with the Arunachal Pradesh government.
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The additions include the strategic passes Dzo La, Riza La and Thag La, Sambho Sarovar lake and the Sher-e-Thapa Memorial.
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Polity & Governance
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Lok Sabha Passes Kerala (Alteration of Name) Bill to Rename the State 'Keralam'
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The Lok Sabha passed the Kerala (Alteration of Name) Bill, 2026 by voice vote on August 11, 2026, amid Opposition protest.
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The Bill renames the state of Kerala as 'Keralam' and was introduced in the House on August 10, 2026.
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It follows a unanimous resolution of the Kerala Legislative Assembly and Union Cabinet approval in February 2026.
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National
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Har Ghar Tiranga 2026 Runs August 9-17 with Theme 'Spirit of Vande Mataram'
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The fifth edition of the Har Ghar Tiranga campaign runs from August 9 to August 17, 2026.
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Its theme is 'Spirit of Vande Mataram', marking 150 years of the national song.
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The campaign was launched in 2022 under Azadi Ka Amrit Mahotsav, marking 75 years of independence.
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Important Days
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Khudiram Bose Martyrdom Day: Remembering One of India's Youngest Revolutionaries
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Khudiram Bose Martyrdom Day is observed on August 11 each year, marking his execution on August 11, 1908.
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He was hanged at Muzaffarpur Jail, Bihar, at the age of 18, among the youngest martyrs of the freedom struggle.
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He was born on December 3, 1889 at Habibpur village, Midnapore district, in present-day West Bengal.
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Polity & Governance
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NCDC (Amendment) Bill 2026 Introduced to Broaden Cooperative Financing Powers
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The Minister of State for Cooperation introduced the National Co-operative Development Corporation (Amendment) Bill, 2026 in the Lok Sabha.
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NCDC is a statutory apex body established in 1963 under the NCDC Act, 1962, functioning under the Ministry of Cooperation.
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The Bill broadens NCDC's mandate from working 'through' cooperative societies to working 'for' cooperative development.
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Environment
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Oil Spill Off Oman Threatens Protected Hallaniyat Islands and Turtle Nesting Grounds
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The Oman Environment Authority launched containment operations after an oil spill covering about 390 sq km off southern Oman.
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The spill came from the explosion-damaged tanker Caroline Bezengi, which grounded near the protected Hallaniyat Islands.
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The Hallaniyat Islands, formerly the Kuria Muria Islands, are an archipelago of five islands in the Arabian Sea.
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Environment
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Lake Mead Falls to Record Low of 1,040.4 Feet as Colorado River Crisis Deepens
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Lake Mead, the largest artificial reservoir in the United States, fell to a record low of 1,040.4 feet above sea level.
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That is below the previous record low of 1,040.58 feet set in July 2022 — the lowest since the reservoir was filled in the 1930s.
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It was formed by damming the Colorado River with the Hoover Dam, completed in 1936.
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International
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Magnitude 7.4 Earthquake Devastates Western Colombia, Strongest This Century
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A magnitude 7.4 earthquake struck western Colombia on August 10, 2026, with the epicentre at San Jose del Palmar in Choco province.
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The Colombian Geological Service described it as the most powerful earthquake to hit the country this century.
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Initial reports counted at least 111 deaths, with the toll rising past 130 as rescue operations continued.
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Environment
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India Presents Five Indian Peacocks to the United Nations Office at Geneva
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India presented five Indian peacocks to the United Nations Office at Geneva (UNOG).
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The group comprised four blue peafowl and one rare white-feathered male.
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The Indian Peafowl was declared India's National Bird in 1963.
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Science & Tech
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Skyroot Signs Three-Launch Agreement with HEX20 After Vikram-1's Orbital Success
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Skyroot Aerospace signed a Multi-Launch Agreement with HEX20 on August 6, 2026 covering three dedicated launches.
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The missions are for Earth-observation and payload demonstration, beginning in the fourth quarter of 2027.
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Skyroot is based in Hyderabad; HEX20 is a Thiruvananthapuram-based spacetech startup.
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Summits & Conferences
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BRICS Education Ministers Adopt Bhubaneswar Declaration Under India's Chairship
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The 13th BRICS Education Ministers' Meeting concluded in Bhubaneswar, Odisha, with the adoption of the Bhubaneswar Declaration.
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It was held under India's BRICS Chairship 2026 and chaired by Union Education Minister Pralhad Joshi.
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India's Chairship theme is 'Building for Resilience, Innovation, Cooperation and Sustainability'.
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Polity & Governance
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Centre Tells Supreme Court Creamy Layer Cannot Be Extended to SC/ST Quotas
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The Union Government filed an affidavit in the Supreme Court opposing a PIL seeking to extend the creamy layer exclusion to SCs and STs.
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The creamy layer test currently applies only to Other Backward Classes.
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It was formalised by the judiciary in Indra Sawhney (1992) and reaffirmed in Ashoka Kumar Thakur (2008).
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International
High
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Lebanon Becomes First Middle East Country to Abolish the Death Penalty
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Lebanon's Parliament voted on August 11, 2026 to abolish the death penalty, the first country in the Middle East to do so in law.
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Capital punishment is replaced by life imprisonment with aggravated hard labour.
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The law commutes the sentences of roughly 84 to 85 prisoners on death row.
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International
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Vietnam's VinSpace Signs SpaceX Contract for First Satellite Launch in 2027
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Vietnamese aerospace company VinSpace signed a contract with SpaceX on August 11, 2026 to launch its first satellites in 2027.
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The launch will be part of a SpaceX Transporter rideshare mission carrying multiple payloads on one rocket.
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VinSpace was established in November 2025 with initial capital of about US$11.4 million.
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Environment
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New Horned Dragon Lizard Acanthosaura syrax Described from Thailand
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Acanthosaura syrax, the Syrax mountain horned dragon, is a newly described lizard from Mae Wong National Park, Thailand.
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It was published in the taxonomy journal ZooKeys on August 2, 2026.
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It is the 23rd recognised member of the genus Acanthosaura, in the family Agamidae.
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Environment
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New Fern Species Pteris madhusoodananii Discovered in Eastern Ghats, Assessed Critically Endangered
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Pteris madhusoodananii is a newly described fern species published on July 30, 2026 in the Nordic Journal of Botany.
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It is endemic to the Kolli Hills in the Eastern Ghats of Tamil Nadu.
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It has been preliminarily assessed as Critically Endangered under IUCN Red List guidelines.
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Science & Tech
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China's Long March 7A Rocket Explodes After Launch, ChinaSat-4B Lost
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China's Long March 7A rocket suffered an in-flight anomaly about 85 seconds after lifting off on August 10, 2026.
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It launched from the Wenchang Space Launch Site on Hainan Island carrying the ChinaSat-4B communications satellite.
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The vehicle broke up at low altitude over the South China Sea and the payload was lost.
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Science & Tech
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NASA Invites ISRO to Join Moon Base Programme Under Artemis Accords
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NASA has invited ISRO to join its Moon Base programme under the Artemis Accords framework.
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The invitation was discussed at the 9th India-US Civil Space Joint Working Group meeting, held at ISRO headquarters in Bengaluru on August 5-6, 2026.
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India signed the Artemis Accords on June 21, 2023.
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International
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Damascus Court Sentences Bashar al-Assad to Death in Absentia for War Crimes
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The Fourth Criminal Court in Damascus sentenced ousted Syrian President Bashar al-Assad to death in absentia on August 11, 2026.
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The convictions were for crimes against humanity, war crimes and premeditated murder.
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His brother Maher al-Assad was also sentenced to death in absentia; both live in Russia, where they received asylum.
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Banking & Finance
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NABARD Names Winners of National Climate Stack Innovation Challenge
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NABARD announced the final winners of the National Climate Stack Innovation Challenge on August 10, 2026.
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The challenge was run with the Bill & Melinda Gates Foundation and Dalberg Advisors under the DiCRA framework.
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SatSure Analytics won the Rs 15 lakh first prize for a village-level climate vulnerability index.
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Awards & Honours
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India Wins Gold and Three Bronze at 23rd International Linguistics Olympiad
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India won one gold and three bronze medals plus one Honourable Mention at the 23rd International Linguistics Olympiad in Bucharest, Romania.
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Shrilakshmi Venkatraman took the individual gold with a score of 70.0.
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The contest drew 255 individual competitors from more than 40 countries.
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Environment
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Gujarat Launches Rs 2.94 Crore Plastic Waste Project at Nalsarovar Ramsar Site
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The Gujarat Forest Department launched a Rs 2.94 crore Plastic Waste Management Project around Nalsarovar Bird Sanctuary on August 11, 2026.
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Nalsarovar is a Ramsar-designated wetland in Gujarat.
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The project is part of the Project for Eco-Restoration in Gujarat, with funding support from the Japan International Cooperation Agency.
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State News
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Jammu and Kashmir Approves Rs 10 Crore to Restore 1733 Rattan Garh Fort
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Jammu and Kashmir approved Rs 10 crore on August 9, 2026 for the restoration of Rattan Garh Fort.
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The fort is at Bhaderwah in Doda district, in the Chenab Valley region.
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It was built in 1733 by Raja Sampat Pal and later served as a prison.
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Sports
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India Wins 17 Medals on Opening Day of U-23 Commonwealth Fencing Championship
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India won 17 medals on the opening day of the Under-23 Commonwealth Fencing Championship in Lagos, Nigeria.
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The championship began on August 9, 2026 and runs until August 14, 2026.
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India took four gold medals — Nikhil Wagh, Joys Ashita, Prachi Lohan and Jeferlin.
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Schemes & Committees
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PM Vishwakarma Artisans in Kodagu Trained in AI Tools and E-Commerce Onboarding
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A one-day branding and marketing awareness programme was held at Kushalnagar, Kodagu district, on August 10, 2026.
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About 150 tailor beneficiaries registered under the PM Vishwakarma scheme took part.
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The session covered AI tools, digital marketing, e-commerce onboarding, QR code generation and Udyam Portal registration.
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National
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DHR-ICMR Hosts Second Edition of S.H.I.N.E. School Outreach Across 83 Locations
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The Department of Health Research and ICMR are hosting the second edition of S.H.I.N.E. on August 11-12, 2026.
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S.H.I.N.E. stands for Science, Health and Innovation for NextGen Explorers.
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The programme spans 83 locations nationwide and targets students of Classes 9 to 12.
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Science & Tech
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Technology Development Board Backs GrivaVision, an AI Cervical Cancer Screening Device
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The Technology Development Board signed an agreement on August 10, 2026 with Visakhapatnam-based Griva Healthcare to commercialise GrivaVision.
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GrivaVision is an indigenous AI-powered portable digital colposcope for cervical cancer screening.
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It is classified as a Class B non-invasive medical device and holds a CDSCO manufacturing licence.
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V.O.C. Port Becomes India's First Scope-2 Emission-Free Major Port
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V.O. Chidambaranar Port Authority, Thoothukudi, became India's first major port to achieve Scope-2 Emission-Free status on August 10, 2026.
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It is also the first Indian port to secure ISO 50001:2018 certification for its Energy Management System.
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Renewable energy met 93.89% of the port's total electricity consumption across FY 2025-26.
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Appointments
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Deepti Gaur Mukerjee Appointed Secretary, Department of Higher Education
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Deepti Gaur Mukerjee was appointed Secretary of the Department of Higher Education on August 10, 2026.
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She is a 1993-batch IAS officer of the Madhya Pradesh cadre and holds a Master's degree in Economics from JNU.
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She succeeds Vineet Joshi, who moved to the Ministry of Panchayati Raj in July 2026.
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Science & Tech
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TRAI Orders Phase-Wise Rollout of 1601-Series for Service and Transactional Calls
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TRAI issued a direction on August 10, 2026 for phase-wise rollout of the 1601-series for service and transactional voice calls.
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The 1601-series covers sectors other than BFSI and Government, which already use the 1600-series.
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Phase-I covers utilities — electricity, water, city gas and LPG distributors — along with courier and logistics firms.
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National
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NABL Launches India's First Accreditation Scheme for Mobile Food Testing Labs
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NABL launched India's first accreditation scheme for mobile food testing laboratories on August 10, 2026.
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It was unveiled at the 'Gunvatta Samanvaya' multilateral MoU exchange ceremony in New Delhi.
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Mobile laboratories are vehicle-mounted units that test food samples at or near the point of collection.
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Ranks & Reports
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PLFS April-June 2026: Labour Force Participation Falls to 54.6%, Youth Jobless Rate at 15.9%
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The PLFS Quarterly Bulletin for April-June 2026 puts the overall Labour Force Participation Rate for those aged 15 and above at 54.6%.
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That is down from 55.5% in the preceding quarter, with rural LFPR falling to 56.9% while urban LFPR held at 50.2%.
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The urban unemployment rate was broadly stable at 6.7%; the rural rate rose to 4.8% from 4.3%.
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Economy
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Centre's Debt-to-GDP Ratio at 58.2% in FY26, Overshooting 56.1% Target
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The Centre's debt-to-GDP ratio stood at 58.2% in FY26, missing the government's own target of 56.1% by 210 basis points.
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Minister of State for Finance Pankaj Chaudhary disclosed the figures in Parliament.
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Outstanding liabilities have nonetheless fallen from 61.5% of GDP in FY21 to 58.2% in FY26.
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Banking & Finance
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Parliament Passes Bankers' Books Evidence Bill 2026, Replacing 1891 Colonial Law
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Parliament has passed the Bankers' Books Evidence Bill, 2026, replacing the Bankers' Books Evidence Act of 1891.
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The Rajya Sabha cleared it by voice vote on August 10, 2026; the Lok Sabha had passed it on August 5, 2026.
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The Bill gives explicit legal recognition to electronic and digital bank records as admissible evidence in court.
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Schemes & Committees
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Agriculture Ministry Launches Monthly DBT Scholarships for Farm Students via NSP
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Union Agriculture Minister Shivraj Singh Chouhan launched scholarship and fellowship disbursal for agriculture students through the National Scholarship Portal.
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More than 6,000 students received Rs 21.35 crore directly through Direct Benefit Transfer at the launch.
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Scholarships will now be credited monthly into student bank accounts instead of through the earlier delayed process.
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Appointments
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Oceanographer Dr Srinivasa Kumar Tummala Takes Charge as Earth Sciences Secretary
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Oceanographer Dr Srinivasa Kumar Tummala assumed charge as Secretary of the Ministry of Earth Sciences on August 10, 2026.
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He succeeds Dr N. Kalaiselvi, who held the post in an additional charge capacity; the previous full-time incumbent was Dr M. Ravichandran.
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He served as Director of ESSO-INCOIS, Hyderabad from August 2020 and later headed the UNESCO-IOC Indian Ocean Tsunami Warning System Secretariat in Perth.
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Polity & Governance
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Karnataka Moves Supreme Court Against High Court Order Allowing Bike Taxis
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Karnataka has appealed to the Supreme Court against a Karnataka High Court order of January 23, 2026 that cleared the way for bike taxi operations.
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The state argues that the Motor Vehicles Act, 1988 contains no framework for registering motorcycles as transport vehicles for passenger service.
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It has cited passenger safety, insurance cover, congestion and the higher fatality risk of two-wheelers compared with cars.
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Economy
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RBI's 101st Forecasters' Survey Raises FY27 Growth Forecast to 6.6%
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The RBI's 101st Survey of Professional Forecasters, conducted in July 2026, raised India's FY27 real GDP growth forecast to 6.6% from 6.5%.
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Retail inflation for FY27 was revised up to 5% from 4.9%; both changes are of 10 basis points.
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The current account deficit forecast was sharply narrowed to 1.4% of GDP from 2.1%, aided by stronger exports.
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