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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India Post Payments Bank Marks 8th Foundation Day, Showcasing Its Contribution to Last-Mile Inclusive Banking

• India Post Payments Bank (IPPB) celebrated its 8th Foundation Day (IPPB Day), highlighting its role in inclusive, accessible, and affordable banking at the last mile.

Key Highlights :

• IPPB is among the largest financial inclusion initiatives globally, leveraging the reach of 1.64 lakh Post Offices and 1.90 lakh Postmen & Gramin Dak Sevaks (GDS).
• The bank has over 12 crore customers, has processed billions of digital transactions, and provides doorstep banking in rural, semi-urban, and remote regions.
• Its expanded services include DBT disbursements, pension payments, credit facilitation, and insurance & investment products through partnerships.
• New offerings include DigiSmart (a Digital Savings Account), Premium Aarogya Savings Account (with healthcare benefits), and Aadhaar-based Face Authentication for customer convenience.
• Other services such as the RuPay Virtual Debit Card, AePS (Aadhaar-enabled Payment Services), cross-border remittances, and Bharat BillPay integration make IPPB a comprehensive grassroots financial service provider.

About India Post Payments Bank

• India Post Payments Bank (IPPB) has been established under the Department of Posts, Ministry of Communication with 100% equity owned by the Government of India.
• IPPB was launched on September 1, 2018.
• Headquarters: New Delhi, India
• Chairman : Ms. Vandita Kaul
• MD & CEO : Shri R. Viswesvaran

India’s Current Account Deficit Eases to 0.2% of GDP in Q1 FY26

• India’s Current Account Balance slipped into a deficit of $2.4 billion (0.2% of GDP) in Q1 FY26, a reversal from the surplus of $13.5 billion (1.3% of GDP) in Q4 FY25.

Key Highlights :

• In Q1 FY25, the Current Account Deficit (CAD) was $8.6 billion (0.9% of GDP).
• The services trade surplus increased to $47.9 billion in Q1 FY26 from $39.7 billion in Q1 FY25, driven by exports in computer and business services.
• The merchandise trade deficit widened to $68.5 billion in Q1 FY26 compared to $63.8 billion in Q1 FY25.
• Private transfer receipts (remittances) saw an 18% year-over-year increase to $33.2 billion in Q1 FY26 from $28.6 billion in Q1 FY25.
• Net income outgo, which primarily includes investment payments, rose to $12.8 billion in Q1 FY26 from $10.9 billion in Q1 FY25.
• FDI inflows were $5.7 billion in Q1 FY26, a decrease from $6.2 billion a year earlier.
• FPI inflows rose to $1.6 billion from $900 million in Q1 FY25.
• External Commercial Borrowings (ECB) increased to $3.7 billion in Q1 FY26 from $1.6 billion in Q1 FY25.
• Forex reserves grew by $4.5 billion in Q1 FY26, which is slightly less than the $5.2 billion growth in Q1 FY25.
• ICRA projects that the CAD may exceed 1% of GDP in FY26 due to high tariff levels impacting exports.

India’s Q1 Gross Domestic Product Growth Hits Five-Quarter Peak at 7.8%, Driven by Broad-Based Sectoral Momentum

• India’s Gross Domestic Product (GDP) growth for April–June 2025 (Q1 FY 2025-26) stood at 7.8%, driven by strong services activity, beating expectations for the second consecutive quarter.
• India remains the world’s fastest growing major economy; Nominal GDP grew by 8.8% in Q1 FY 2025-26.
• India is currently the 4th largest economy, projected to become the 3rd largest by 2030 with a GDP of $7.3 trillion.
• India is expected to achieve $5 trillion GDP by 2027, surpass Germany by 2028, and consolidate its position globally.
• GDP measures the size and health of an economy by capturing the total value of goods and services produced.
• The Allied Sector (agriculture, livestock, forestry & fishing, mining & quarrying) grew by 3.7% in Q1 FY 2025-26, up from 1.5% in the same period last year.
• Gross Fixed Capital Formation (GFCF) recorded 8% growth at Constant Prices in Q1 FY 2025-26, compared to 6.7% in Q1 FY 2024-25.

Department of Posts Suspends Mail Booking Services to the United States of America

• The Department of Posts has decided to completely suspend the booking of all categories of mail to the USA.
• The suspension covers letters, documents, and gift items valued up to USD 100.
• The reason for the suspension is the inability of carriers to transport U.S.-bound mail and the absence of defined regulatory mechanisms.
• Customers who have already booked undelivered items can claim a refund of postage.
• The Department is monitoring the situation and aims to restore services at the earliest.

Recent News :

• In Aug 2025, In a step towards deepening financial inclusion, the Department of Posts (DoP) under the Ministry of Communications, Government of India, and the Association of Mutual Funds in India (AMFI) signed a Memorandum of Understanding (MoU) August 22, 2025 during the 30th Foundation Day Celebration of AMFI in Mumbai.

Reserve Bank of India Fines Bandhan Bank ₹44.7 Lakh for Regulatory and Statutory Lapses

• The Reserve Bank of India (RBI) has imposed a penalty of ₹44.7 lakh on Bandhan Bank for statutory and regulatory compliance deficiencies.
• This action was taken following supervisory findings of non-compliance with RBI directions.
• The bank violated norms by paying remuneration in the form of commission to certain employees.
• It also carried out manual interventions in account data through the back-end.
• The bank did not properly capture audit trails/logs of access with specific user details in the system.

Insurance Ombudsman Report 2023-24 Highlights Concentration of Complaints Among Few Insurers

• The Insurance Ombudsman Annual Report 2023-24 indicates that a few insurance companies received the maximum number of complaints.
• Star Health & Allied Insurance topped the list with 13,308 complaints, with over 10,000 of those complaints being related to claim rejections.
• CARE Health had the second-highest number of complaints with 3,718, followed by Niva Bupa Health Insurance in third place with 2,511.
• The only public sector insurers in the top five were National Insurance Co. Ltd (2,196) and The New India Assurance Co. Ltd (1,602).
• The top three companies that received the most complaints were all stand-alone health insurers.
• IRDAI has mandated that each insurance company establish an Internal Insurance Ombudsman (IO) to handle complaints up to ₹50 lakh.
• This Internal Ombudsman will be responsible for reviewing complaints that remain unresolved after 30 days or those that were partially or completely rejected and are being appealed by the policyholder.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Indian Prime Minister Narendra Modi Receives Daruma Doll, Iconic Japanese Cultural Symbol, During Japan Visit

• During Indian Prime Minister (PM) Narendra Modi’s Japan visit, Rev Seishi Hirose, Chief Priest of Daruma-ji Temple, presented him with a Daruma Doll, a significant cultural symbol in Japan.
• Daruma Dolls are considered lucky charms in Japan and vary in size. They are often used to set and achieve goals; the tradition is to fill in one eye when a goal is set and the other once it is accomplished.
• The Daruma Doll, made of papier-mâché, is modeled after Bodhidharma, the 5th-century founder of Zen Buddhism.
• Bodhidharma, an Indian monk from Kancheepuram, is known in Japan as Daruma Daishi.
• Shorinzan Darumaji Temple, built in 1697 in Takasaki, Gunma, is regarded as the place of origin of Daruma.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Inaugurates Semicon India 2025 in New Delhi

• Prime Minister Shri Narendra Modi inaugurated Semicon India 2025 at Yashobhoomi, New Delhi.
• Event aims to catalyse India’s semiconductor ecosystem; attended by global semiconductor CEOs, start-ups, students, and delegates from 48+ countries.

Key Highlights

• India achieved 7.8% GDP growth in Q1, outperforming global estimates; growth visible across manufacturing, services, agriculture, and construction.
• India launched Semicon India Programme in 2021; since then:
  • 2023: first semiconductor plant approved
  • 2024: multiple new plants approved
  • 2025: five additional projects cleared
  • 10 projects underway worth $18 billion (₹1.5 lakh crore)
• Ease of Doing Business: National Single Window System for faster clearances; development of semiconductor parks with plug-and-play model (land, power, connectivity, skilled manpower).
• India offering end-to-end semiconductor capability through PLI incentives and Design Linked Grants.
• Recent progress:
  • CG Power’s pilot plant operational (Aug 28, 2025)
  • Kaynes pilot plant to begin soon
  • Micron & Tata test chips in production
  • Commercial chip production to start this year
• India working on National Critical Mineral Mission to secure supply of rare minerals.
• Several states adopting special semiconductor policies and competing to attract investment.
• Dignitaries present: Union Ministers Ashwini Vaishnaw, Jitin Prasada, Delhi CM Rekha Gupta, Odisha CM Mohan Charan Majhi, among others.

About Delhi:

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Vinai Kumar Saxena
• Capital: New Delhi
• Wildlife Sanctuaries: Asola Bhatti Wildlife Sanctuary, Yamuna Biodiversity Park, Aravalli Biodiversity Park

Investor Education and Protection Fund Authority (IEPFA) Launches Phase II of ‘Niveshak Didi’ in Hyderabad

• The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs (MCA), launched Phase II of its flagship financial literacy initiative – ‘Niveshak Didi’ in Hyderabad, Telangana.
• The launch was marked by a financial awareness camp at Patelguda Panchayat, attended by Ms. Anita Shah Akella, CEO, IEPFA, and Shri Krishna Kumar L, Region Head, India Post Payments Bank (IPPB), Telangana Circle.

Key Highlights

• The initiative aims to empower rural communities, especially women, by deepening financial awareness.
• Phase II of Niveshak Didi builds on Phase I by:
  • Expanding outreach.
  • Introducing interactive training modules.
  • Collaborating with grassroots organizations for greater impact.
• IEPFA’s Mission: To foster financial literacy and investor protection by collaborating with strategic partners, ensuring a financially resilient and aware society.

About IEPFA

• The Investor Education and Protection Fund Authority (IEPFA) was established by the Government of India under the Ministry of Corporate Affairs (MCA).
• It works to promote investor education, awareness, and protection.
• IEPFA organizes nationwide outreach programs to empower citizens with financial knowledge and safeguard them against fraudulent practices.

About Telangana:

• Capital: Hyderabad
• Governor: Jishnu Dev Varma
• Chief Minister: Anumula Revanth Reddy
• National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife Sanctuary

Union Education Minister Launches DIKSHA 2.0 on 65th Foundation Day of NCERT

• Union Education Minister Dharmendra Pradhan addressed the 65th Foundation Day of the National Council of Educational Research and Training (NCERT).
• He launched several new initiatives including DIKSHA 2.0 (Digital Infrastructure for Knowledge Sharing 2.0).

Key Highlights

• A book titled ‘Utkal Jananinkara Sujogya Santana’, highlighting the life and contributions of 100 great personalities of Odisha, was released.
• The event was attended by dignitaries including Sanjay Kumar (Secretary, Department of School Education & Literacy – DoSEL, Ministry of Education); Chamu Krishna Shastry (Chairman, Bharatiya Bhasha Samiti); Prof. Dinesh Prasad Saklani (Director, NCERT); Prof. M. Jagadesh Kumar (Chairperson, University Grants Commission – UGC); Dr. Sreedhara Panicker Somanath (Former Chairman, Indian Space Research Organisation – ISRO); and Prof. J. S. Rajput (Former Director, NCERT).
• DIKSHA 2.0 platform was highlighted as an upgraded, responsive, multi-device compatible system offering:
  • Structured lessons
  • Adaptive assessments
  • AI-powered tools such as Read Aloud and text translation in 12 Indian languages
• Shri Pradhan also shared first-hand student feedback, stating that DIKSHA 2.0 is facilitating learner-specific education and empowering teachers and students.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Troops Leave for India–US Joint Military Drill Yudh Abhyas 2025

• An Indian Army contingent has departed for Fort Wainwright, Alaska, United States of America (USA), to participate in the 21st edition of Exercise Yudh Abhyas 2025, which is scheduled from September 1 to 14, 2025.
• The Indian contingent includes personnel from a battalion of the Madras Regiment.
• They will train alongside the 1st Battalion, 5th Infantry Regiment “Bobcats”, which is part of the Arctic Wolves Brigade Combat Team, 11th Airborne Division (USA).
• Training will cover a wide range of tactical drills, including heliborne operations, employment of surveillance resources, unmanned aerial systems (UAS), rock craft, mountain warfare, casualty evacuation, combat medical aid, and the integrated use of Artillery, Aviation, and Electronic Warfare systems.
• Subject-matter experts from both armies will lead working groups on critical domains such as UAS & Counter-UAS operations, information warfare, communications, and logistics.
• The exercise will culminate in jointly planned tactical maneuvers, including live-fire drills and high-altitude warfare scenarios.
• The primary focus is on enhancing UN peacekeeping capabilities and multi-domain operational preparedness.

Note :

• The 20th edition of the India-USA joint military exercise, Yudh Abhyas-2024, took place in Rajasthan, India, from September 9-22, 2024.
• The first Yudh Abhyas army exercise was conducted in 2016.

Indian Army conducts combat readiness exercise in Arunachal Pradesh

• The Indian Army conducted Exercise Yudh Kaushal 3.0 in the Kameng region, Arunachal Pradesh, to test preparedness for next-generation warfare in high-altitude Himalayan conditions.
• The exercise, observed by the General Officer Commanding, Gajraj Corps, involved drone surveillance, precision strikes, real-time target acquisition, air–littoral operations, and synchronized battlefield tactics.
• A key highlight was the operational debut of ASHNI platoons, which integrate advanced technology with traditional combat skills for a battlefield advantage.
• The exercise showcased the active participation of the Indian defence industry, reinforcing the vision of Aatma Nirbhar Bharat (self-reliance) in defence.
• Yudh Kaushal 3.0 validated combat effectiveness in harsh terrain and highlighted the Army’s shift towards multi-domain operations and the use of emerging technologies.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Air Marshal Sanjiv Ghuratia AVSM VSM Takes Charge as Air Officer-in-Charge Maintenance

• Air Marshal Sanjiv Ghuratia AVSM VSM assumed charge as Air Officer-in-Charge Maintenance (AOM) at Indian Air Force (IAF) Headquarters on September 1, 2025.
• He was commissioned into the Aeronautical Engineering stream of the IAF in September 1988.
• Throughout his 37 years of distinguished service, he has held key command and staff appointments in the IAF and a UN Mission abroad.
• Prior to his current role, he served as the Senior Maintenance Staff Officer at HQ Maintenance Command.
• His notable awards and honors include the Vishisht Seva Medal (2016) and the Ati Vishisht Seva Medal (2025), awarded by the President of India.
• He was also commended by the Force Commander of the UN Mission in Congo for his service.

OpenAI appoints former Coursera Managing Director Raghav Gupta as Head of Education for India and Asia-Pacific

• OpenAI has appointed Raghav Gupta as Head of Education Vertical for the India and Asia-Pacific region.
• Gupta previously served as the Managing Director (APAC) at Coursera.
• The announcement was made by Leah Belsky, VP & GM for Education at OpenAI, during a visit to New Delhi.
• OpenAI is set to open its first India office later this year, signaling India’s importance as a key market.
• The current OpenAI team in India includes Pragya Misra (Public Policy & Partnerships, since 2023) and Rishi Jaitly (Senior Adviser for Government engagement).
• India-specific initiatives include collaborations with EdTech start-ups and the launch of a Learning Accelerator in partnership with IIT Madras, AICTE, and the Ministry of Education.
• A $500,000 grant has been given to IIT Madras to support long-term research on AI in the classroom and its impact on cognitive outcomes.
• OpenAI is also actively recruiting for 3 sales roles in India: Account Director – Digital Natives, Large Enterprise, and Strategics.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Railways and State Bank of India Sign MoU for Enhanced Insurance Coverage of Railway Employees

• A Memorandum of Understanding (MoU) was signed between Indian Railways (IR), one of the largest rail networks in the world, and the State Bank of India (SBI), the country’s largest public sector bank.
• The ceremony was attended by Shri Ashwini Vaishnaw, Minister for Railways, Information & Broadcasting, Electronics & Information Technology; Shri Satish Kumar, Chairman, Railway Board; and Shri C.S. Setty, Chairman, State Bank of India (SBI).

Key Highlights

• Under the MoU, insurance coverage for Railway employees maintaining salary accounts with SBI has been significantly enhanced.
• In case of accidental death, the insurance benefit has been raised to ₹1 crore, compared to the current ₹1.20 lakh, ₹60,000, and ₹30,000 for Group A, Group B, and Group C employees respectively covered under the Central Government Employees Group Insurance Scheme (CGEGIS).
• All Railway employees holding only a salary account with State Bank of India (SBI) will now be eligible for natural death insurance coverage of ₹10 lakh, without premium payment or medical examination.
• Nearly 7 lakh Railway employees maintaining salary accounts with State Bank of India (SBI) will benefit from this agreement, reflecting a major welfare initiative for railway staff.
• Complimentary insurance covers under the MoU include:
  • Air Accident Insurance (Death) Cover of ₹1.60 crore plus an additional up to ₹1.00 crore on RuPay Debit Card.
  • Personal Accident (Permanent Total Disablement) Cover of ₹1.00 crore.
  • Personal Accident (Permanent Partial Disability) Cover of up to ₹80 lakh.
• The agreement is employee-centric and compassionate, designed to bring exclusive benefits to frontline railway personnel, especially those in Group C and other categories.

RECENT NEWS

• Indian Railways has taken a significant step toward sustainable transport innovation by commissioning India’s first removable solar panel system between railway tracks. Installed at the Banaras Locomotive Works (BLW) in Varanasi, this green energy initiative showcases the railway’s growing commitment to renewable energy integration and eco-friendly infrastructure.

Department of Posts Signs MoU with Environmental Systems Research Institute India for Digital Pincode (DIGIPIN) Initiative

• The Department of Posts (DoP) signed a Memorandum of Understanding (MoU) with Environmental Systems Research Institute (ESRI) India Technologies Private Limited, a leading Geographic Information System (GIS) software and solutions provider.
• Under this MoU, the Department of Posts will use ESRI India’s high-resolution imagery and street basemaps for its Digital Pincode (DIGIPIN) portal.

Key Highlights

• The collaboration will enable the integration of the Digital Pincode (DIGIPIN) with ESRI India’s Living Atlas portal, making it accessible to the wider Geographic Information System (GIS) community.
• Environmental Systems Research Institute (ESRI) India will provide technical support to the Department of Posts for seamless integration of its services with the Digital Pincode (DIGIPIN).
• The partnership aims to make the Digital Pincode (DIGIPIN) system more robust, accurate, and citizen-friendly, thereby supporting efficient service delivery.
• The MoU was signed at Dak Bhawan, New Delhi, by designated representatives of the Department of Posts and Environmental Systems Research Institute (ESRI) India.
• This MoU represents a major step towards ground-level implementation of the Digital Pincode (DIGIPIN) initiative by integrating the Department of Posts’ nationwide postal network with Environmental Systems Research Institute (ESRI) India’s mapping capabilities.

RECENT NEWS

• Department of Posts partners with MapmyIndia to implement DIGIPIN, India’s digital addressing system for precise geolocation and efficient service delivery.

CURRENT AFFAIRS: SPORTS NEWS

Oscar Piastri Wins 2025 Dutch Grand Prix

• Oscar Piastri (McLaren) won the 2025 Dutch Grand Prix at Zandvoort, strengthening his lead in the Formula 1 World Championship.

Key Highlights

• Lando Norris (McLaren), who was running 2nd, suffered a late-race mechanical failure, which altered the title battle trajectory.
• Top 5 Finishers:
  • 1st – Oscar Piastri (McLaren)
  • 2nd – Max Verstappen (Red Bull)
  • 3rd – Isack Hadjar (Racing Bulls) – first-ever F1 podium
  • 4th – George Russell (Mercedes)
  • 5th – Alexander Albon (Williams) – climbed from P15 to P5
• Other Notable Performances:
  • Ollie Bearman (Haas) started from the pit lane and finished 6th with a one-stop strategy.
  • Aston Martin duo, Lance Stroll and Fernando Alonso, finished 7th and 8th, securing double points.

International Cricket Council Announces Record Prize Money for 2025 ICC Women’s Cricket World Cup

• The International Cricket Council (ICC) announced that winners of the 2025 ICC Women’s Cricket World Cup will receive a record USD 4.48 million (₹39.55 crore).
• The tournament will begin on September 30, 2025, and will be co-hosted by India and Sri Lanka.

Key Highlights

• The prize pool marks the largest-ever financial reward in women’s cricket history.
• In the previous edition (2022, New Zealand), winners received USD 1.32 million (₹11.65 crore), whereas in 2025 the amount increased to USD 4.48 million (₹39.55 crore).
• The total prize purse has risen from USD 3.5 million (₹31 crore) in 2022 to USD 13.88 million (₹122.5 crore) in 2025, which is a 297% hike.
• Significantly, this surpasses the 2023 ICC Men’s Cricket World Cup prize purse of USD 10 million (₹88.26 crore).
• Breakdown of Prize Money (2025 Edition):
  • Winners: USD 4.48 million (₹39.55 crore)
  • Runners-up: USD 2.24 million (₹19.77 crore) (up from USD 600,000 in 2022)
  • Losing semi-finalists: USD 1.12 million (₹9.89 crore) each (up from USD 300,000 in 2022)
• The tournament will run from September 30 to November 2, 2025, featuring eight top national teams across venues in India and Sri Lanka.
• Key Indian players like Harmanpreet Kaur and Smriti Mandhana are expected to play crucial roles.
• Important points to remember:
  • Host Countries: India and Sri Lanka
  • Edition: 13th
  • Winners’ Prize: USD 4.48 million (₹39.55 crore)

Mitchell Starc Retires from T20 International Cricket

• Mitchell Starc, Australian fast-bowling stalwart, announced his retirement from T20 International cricket at the age of 35, just months before the 2026 T20 World Cup.
• The decision aims to prolong his career in Test and ODI formats, where he wants to continue representing Australia at the highest level.

Key Highlights

• Starc made his T20I debut in 2012 against Pakistan and went on to play 65 matches, taking 79 wickets at an economy of 7.74.
• He retires as Australia’s second-highest wicket-taker in T20Is, behind Adam Zampa.
• Known for his raw pace, deadly yorkers, and match-turning spells, he was a key figure in Australia’s campaigns, especially in the 2021 T20 World Cup victory.
• Starc featured in five of six T20 World Cups since debut, missing only the 2016 edition due to injury.
• Starc’s decision marks part of a generational shift in Australian cricket, as several senior players have recently retired:
  • David Warner retired from all formats in 2024.
  • Steve Smith, Glenn Maxwell, and Marcus Stoinis announced ODI retirements in 2025.

CURRENT AFFAIRS: IMPORTANT DAYS

Skyscraper Day: September 3

• Skyscraper Day is celebrated on September 3 every year.
• Skyscrapers Day is celebrated every year on September 3, on the birth anniversary of Louis H. Sullivan, often called the ‘father of modern skyscrapers.

History

• Celebrate this unofficial holiday by climbing or taking the elevator/lift up a skyscraper and by acknowledging the architectural and engineering feats that make such buildings possible.
• Tall buildings are called skyscrapers because their tops seem to scrape the sky. The term was first applied to buildings in the 19th century and was used to describe buildings over 10 stories tall.
• In cities such as New York, St. Louis, Pittsburgh, and Detroit, tall buildings were erected during the middle of the 19th century, but the first steel-frame skyscraper wasn’t built until 1885.

• The world’s first skyscraper came up in Chicago in 1885

• Skyscraper Day can be observed by simply taking the time to visit a local skyscraper and take a trip up it.

Daily CA One- Liner: September 3

• Prime Minister Shri Narendra Modi inaugurated Semicon India 2025 at Yashobhoomi, New Delhi
• The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs (MCA), launched Phase II of its flagship financial literacy initiative – ‘Niveshak Didi’ in Hyderabad, Telangana.
• Union Education Minister Dharmendra Pradhan addressed the 65th Foundation Day of the National Council of Educational Research and Training.
• A Memorandum of Understanding (MoU) was signed between Indian Railways (IR), one of the largest rail networks in the world, and the State Bank of India (SBI), the country’s largest public sector bank.
• The Department of Posts (DoP) signed a Memorandum of Understanding (MoU) with Environmental Systems Research Institute (ESRI) India Technologies Private Limited, a leading Geographic Information System (GIS) software and solutions provider
• Oscar Piastri (McLaren) won the 2025 Dutch Grand Prix at Zandvoort, strengthening his lead in the Formula 1 World Championship
• The International Cricket Council (ICC) announced that winners of the 2025 ICC Women’s Cricket World Cup will receive a record USD 4.48 million
• Mitchell Starc, Australian fast-bowling stalwart, announced his retirement from T20 International cricket at the age of 35, just months before the 2026 T20 World Cup.

• India Post Payments Bank (IPPB) celebrated its 8th Foundation Day (IPPB Day), highlighting its role in inclusive, accessible, and affordable banking at the last mile.
• India’s Current Account Balance slipped into a deficit of $2.4 billion (0.2% of GDP) in Q1 FY26, a reversal from the surplus of $13.5 billion (1.3% of GDP) in Q4 FY25.
• India’s Gross Domestic Product (GDP) growth for April–June 2025 (Q1 FY 2025-26) stood at 7.8%, driven by strong services activity, beating expectations for the second consecutive quarter.
• The Department of Posts has decided to completely suspend the booking of all categories of mail to the USA.
• The Reserve Bank of India (RBI) has imposed a penalty of ₹44.7 lakh on Bandhan Bank for statutory and regulatory compliance deficiencies.
• The Insurance Ombudsman Annual Report 2023-24 indicates that a few insurance companies received the maximum number of complaints.
• During Indian Prime Minister (PM) Narendra Modi’s Japan visit, Rev Seishi Hirose, Chief Priest of Daruma-ji Temple, presented him with a Daruma Doll, a significant cultural symbol in Japan.
• An Indian Army contingent has departed for Fort Wainwright, Alaska, United States of America (USA), to participate in the 21st edition of Exercise Yudh Abhyas 2025, which is scheduled from September 1 to 14, 2025.
• The Indian Army conducted Exercise Yudh Kaushal 3.0 in the Kameng region, Arunachal Pradesh, to test preparedness for next-generation warfare in high-altitude Himalayan conditions.
• Air Marshal Sanjiv Ghuratia AVSM VSM assumed charge as Air Officer-in-Charge Maintenance (AOM) at Indian Air Force (IAF) Headquarters on September 1, 2025.
• OpenAI has appointed Raghav Gupta as Head of Education Vertical for the India and Asia-Pacific region.

• Skyscraper Day is celebrated on September 3 every year.