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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS
GST rate reduction may cause ₹45,000 crore revenue loss in FY26 -SBI Report
- The SBI research report estimates a ₹45,000 crore revenue loss in FY25 due to GST rate rationalisation, but expects minimal impact on the fiscal deficit as lower rates will boost consumption.
- The Centre’s next-generation GST reforms propose two basic rates of 5% and 18%, and a 40% rate for 5–7 sin goods, replacing the current 28% slab.
- The report projects an average annual revenue loss of ₹85,000 crore, but this will be offset by higher consumption and tax buoyancy.
- Consumption boost of ₹1.98 lakh crore from lower GST rates, combined with tax cuts, could add ₹5.31 lakh crore (≈1.6% of GDP) to overall expenditure.
- The effective weighted average GST rate is expected to fall further from 14.4% to 9.5% after rationalisation, reducing tax burden.
- Despite potential revenue loss, an additional GST revenue of ₹52,000 crore is expected, to be shared equally between Centre and States (₹26,000 crore each).
- On average, the Centre exceeded projected tax revenue by ₹2.26 lakh crore in the last four years, showing fiscal space for reforms.
- Retail inflation (CPI) may ease by 20–25 bps, as essential items (food, cloth) move from 12% to 5% GST and services rationalisation reduces prices further.
ICRA projects India’s Q1 GDP growth at 6.7% driven by higher government spending and exports
- ICRA, a credit rating agency, forecasts India’s GDP to grow by 6.7% in the first quarter of the current financial year (April-June 2025).
- This projection is higher than the Reserve Bank of India’s (RBI) recent forecast of 6.5% for the same quarter.
- The growth is attributed to upfronted government spending and a jump in exports.
- In the preceding quarter (January-March 2025), India’s GDP grew by 7.4% according to the National Statistics Office (NSO).
- The official data for the April-June quarter is scheduled for release on August 29.
- According to ICRA’s analysis, the services sector is expected to be the main growth driver, potentially reaching an eight-quarter high of 8.3%.
- Conversely, both the industrial and agriculture sectors are projected to see a deceleration in growth.
- Agriculture sector growth is estimated to be 4.5%, down from 5.4% in the previous quarter.
- Industrial sector growth may fall to 4% from 6.5% in the previous quarter.
- Government spending was a significant factor, with the Government of India’s gross capital expenditure increasing by 52% year-on-year to ₹2.8 lakh crore in the quarter ending June 2025.
- The capital outlay of 24 state governments also saw a 23% increase to ₹1.1 lakh crore in the same period.
Punjab National Bank shifts its corporate website to the safer ‘.bank.in’ domain
- Punjab National Bank (PNB) has migrated its corporate website to pnb.bank.in from www.pnb.co.in, becoming the first Public Sector Bank in India to adopt the .bank.in domain.
- The move is in line with the RBI circular (April 22, 2025) on migration to ‘.bank.in’ domain, under the guidance of IDRBT (Institute for Development and Research in Banking Technology), which is the exclusive registrar.
- .bank.in domain is reserved exclusively for Indian banks, offering enhanced cyber security, protection against phishing and frauds, and boosting public trust in digital banking.
- The RBI initiative was announced after the Monetary Policy Committee meeting (Feb 7, 2025) to address rising frauds in digital payments.
- Registrations for .bank.in began in April 2025, and RBI also plans to introduce an exclusive domain “fin.in” for non-bank financial sector entities.
- The shift marks a significant milestone in India’s digital banking transformation, strengthening safe and secure online banking services.
About Punjab National Bank (PNB):
- Founded: 1894
- Headquarters: New Delhi, India
- Managing Director & CEO: Ashok Chandra
- Tagline: “The Name You Can Bank Upon”
India Exim Bank signs $40 million credit line deal with ECOWAS Bank for Investment and Development
- The Export-Import Bank of India (India Exim Bank) and the ECOWAS Bank for Investment and Development (EBID) have signed a $40 million commercial credit line agreement.
- The agreement aims to create new opportunities for Indian businesses in Africa and strengthen bilateral economic ties.
- India Exim Bank plays a key role in financing, facilitating, and promoting India’s international trade and investments, and also acts as the principal financial institution for coordinating export-import financing.
- Collaboration with African financial institutions is highlighted as a vital pillar for partnerships amid global trade uncertainties.
- EBID is a regional development finance institution, owned by the 15 member states of ECOWAS (Economic Community of West African States).
Reserve Bank of India study shows foreign liabilities of Indian Mutual Funds climb 19.9% to ₹2.6 lakh crore in FY25 from ₹2.1 lakh crore in FY24
- According to a study by the Reserve Bank of India (RBI), Foreign liabilities of Indian Mutual Funds (MFs) rose 19.9% in FY25 to ₹2.6 lakh crore (market value), compared to ₹2.1 lakh crore in FY24.
- The United Arab Emirates (UAE) was the largest foreign investor, holding 1/5th share (~₹52,549 crore) of total Indian MF foreign investment.
- United States (U.S.) and United Kingdom (U.K) investors together accounted for 20% (~₹10,900 crore) of Indian MF units sold abroad.
- Australia and Canada investments in Indian MFs grew the fastest (>40% growth) in FY25.
- In contrast, 45 Indian MFs reduced exposure to most foreign equities, with Japan investments falling ~20% and U.S./U.K. down ~4% each.
- Only Hong Kong and Canada saw a rise in investment exposure by Indian MFs.
CURRENT AFFAIRS: NATIONAL AND STATE NEWS
Non-Performing Assets under Pradhan Mantri Mudra Yojana Rose to 9.81% in FY25
- Non-Performing Assets (NPAs) under Pradhan Mantri Mudra Yojana (PMMY) for Scheduled Commercial Banks (SCBs) stood at 9.81% of outstanding loans as of March 2025, compared to 5.47% in March 2018.
- Against total disbursed loan amount, the NPA ratio was 2.19% in March 2025, lower than 2.71% in March 2018.
Key Highlights
- Finance Minister Nirmala Sitharaman provided this data in a written reply to Rajya Sabha.
- NPAs under PMMY were higher than those of the Micro, Small and Medium Enterprises (MSME) sector, where NPAs were 3.60% of outstanding loans in March 2025.
- Higher NPAs in PMMY are linked to its collateral-free loans, often extended to first-time borrowers.
- Government measures to improve PMMY include publicity campaigns, simplified forms, Credit Guarantee Scheme, appointment of Mudra Nodal Officers, and periodic reviews.
- Lending targets are fixed for financial institutions and distributed on a state-wise basis.
- Loans against gold jewellery grew by 71.3% in December 2024 over December 2023, with an increase of ₹71,858 crore, forming 4.06% of incremental non-food credit.
- A majority of gold loans were availed by women, reflecting increased use of household gold as collateral.
- Schemes like Mahila Samriddhi Yojana, Trade Related Entrepreneurship Assistance and Development (TREAD), and Stand-Up India further support financing for women borrowers.
- While PMMY expands formal credit access, the rising NPA ratio indicates stress in the loan portfolio, whereas gold-backed loans continue to grow steadily.
West Bengal CM Mamata Banerjee Launches ‘Sramashree’ Scheme for Migrant Labourers
- Chief Minister (CM) Mamata Banerjee announced a new rehabilitation scheme named ‘Sramashree’ for migrant labourers who were allegedly harassed in Bharatiya Janata Party (BJP)-ruled states.
Key Highlights
- Under the scheme, financial aid of ₹5,000 per month will be provided for 12 months or till the migrant workers secure fresh employment in West Bengal.
- The scheme has been approved by the state cabinet to support the rehabilitation of returning migrant workers.
- In addition to monthly assistance, workers returning to the state will also receive one-time travel aid.
- Objective: To ensure economic self-reliance of migrant labourers who wish to return and settle in Bengal.
About West Bengal:
- Chief Minister: Mamata Banerjee
- Governor: C. V. Ananda Bose
- Capital: Kolkata
- National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
- Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary
Jan Vishwas (Amendment of Provisions) Bill, 2025 Passed in Lok Sabha
- Union Minister for Commerce and Industry Shri Piyush Goyal introduced the Jan Vishwas (Amendment of Provisions) Bill, 2025 in Lok Sabha.
- The Bill was earlier approved by the Union Cabinet and referred to a Select Committee by the Hon’ble Speaker.
- This Bill builds on the Jan Vishwas (Amendment of Provisions) Act, 2023, which decriminalised 183 provisions in 42 Central Acts across 19 Ministries/Departments.
Key Highlights
- Jan Vishwas (Amendment of Provisions) Bill, 2025 expands the reforms to cover 16 Central Acts administered by 10 Ministries/Departments.
- A total of 355 provisions are proposed for amendment:
- 288 provisions decriminalised to foster Ease of Doing Business (EoDB).
- 67 provisions amended to facilitate Ease of Living (EoL).
- The Bill also proposes 67 amendments under the New Delhi Municipal Council Act (NDMC Act), 1994 and the Motor Vehicles Act, 1988.
- Key Features:
- Advisory/Warning for first-time contraventions under 76 offences in 10 Acts.
- Decriminalisation – imprisonment clauses for minor offences replaced with monetary penalties/warnings.
- Rationalisation of penalties – proportional fines with graduated penalties for repeat offences.
- Administrative adjudication mechanisms to reduce judicial burden.
- Automatic 10% increase in fines/penalties every 3 years.
- Four Acts included in Jan Vishwas Act, 2023 are again covered for further decriminalisation under this Bill:
- Tea Act, 1953
- Legal Metrology Act, 2009
- Motor Vehicles Act, 1988
- Drugs and Cosmetics Act, 1940
- The Bill reflects the Government’s motto of “Minimum Government, Maximum Governance” and aims to boost Ease of Doing Business and sustainable economic growth.
Status of Pradhan Mantri Jan Dhan Yojana (PMJDY), Unified Payments Interface (UPI), Public Sector Banks (PSBs) Capital Raising & Gold Loan Non-Performing Assets (NPAs)
- As of 31 July 2025, total Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts – 56.03 crore, of which 13.04 crore (23%) are inoperative.
- Uttar Pradesh (UP) leads with 2.75 crore inoperative accounts, followed by Bihar – 1.39 crore and Madhya Pradesh (MP) – 1.07 crore.
- As per Reserve Bank of India (RBI) guidelines (Feb 2009), a Savings Bank Account (SB A/c) is classified as inoperative if no customer-initiated transaction is done for 2 years.
Key Highlights
- Govt measures:
- Direct Benefit Transfer (DBT) used to revive inactive accounts.
- Banks must inform account holders quarterly via Short Message Service (SMS), email, and letters.
- Gram Panchayat Saturation Campaign (July–September 2025) ensures Re-Know Your Customer (Re-KYC) compliance.
- Unified Payments Interface (UPI): Govt proposes no transaction charges; provided ₹8,730 crore incentives (Financial Year (FY) 2021–22 to FY 2024–25) to ensure continuity.
- Public Sector Banks (PSBs) raised ₹1,53,978 crore capital in last 3 FYs:
- FY 2022–23: ₹44,942 crore
- FY 2023–24: ₹57,380 crore
- FY 2024–25: ₹51,656 crore
- Raised via Equity Shares + Basel-III compliant bonds (Additional Tier-1 & Tier-2 bonds).
- Gross Non-Performing Assets (GNPA) in Gold Loans:
- Scheduled Commercial Banks (SCBs): 0.20% (March 2023) → 0.22% (March 2025).
- Non-Banking Financial Companies (NBFCs) (Upper & Middle Layer): 1.21% → 2.14%.
- Reserve Bank – Integrated Ombudsman Scheme (RB-IOS 2021): Received 188 complaints on gold loans in FY 2024–25.
- Cryptoassets: Reserve Bank of India (RBI) clarified they are outside its regulatory domain.
Cabinet Approves Promotion and Regulation of Online Gaming Bill, 2025
- Cabinet approved the Promotion and Regulation of Online Gaming Bill, 2025 to be introduced in Lok Sabha.
- The Bill seeks to promote e-Sports, social and educational games, while banning online money games in public interest.
Key Highlights
- Online gaming in India is valued at USD 3.7 billion and is projected to reach USD 9.1 billion by 2029.
- E-Sports, Social Games, and Educational Games will be promoted and regulated, while Online Money Games involving real cash deposits and winnings are completely banned.
- Bill addresses issues of addiction, debt traps, suicides, and cross-border offshore servers due to lack of a uniform legal framework.
- Running, promoting, or advertising money games is prohibited, and banks/payment firms are barred from processing related transactions.
- A Regulatory Authority will be appointed by the Central Government to oversee compliance.
- Penalties: violation may attract up to 3 years imprisonment and ₹1 crore fine; advertising violations up to 2 years and ₹50 lakh fine; repeat offences up to 5 years and ₹2 crore fine; non-compliance fines up to ₹10 lakh.
- Industry reactions: All India Gaming Federation opposed the ban and demanded regulation; NODWIN Gaming and S8UL welcomed recognition of e-Sports but highlighted need for clear definitions; experts warned of possible negative impact on FDI, jobs, and India’s investment reputation.
- Market impact: Nazara Technologies stock fell nearly 7%, Delta Corp also declined, while platforms like Dream11, Winzo, Games24x7, My11Circle face uncertainty.
Cabinet Approves Development of Greenfield Airport at Kota-Bundi and Capital Region Ring Road in Odisha
- Greenfield Airport at Kota-Bundi, Rajasthan approved at an estimated cost of ₹1,507 crore.
- Project includes construction of a 20,000 sq. meter Terminal Building with capacity to handle 1,000 Peak Hour Passengers.
Key Highlights
- Kota recognized as the industrial capital of Rajasthan and renowned as the Educational Coaching Hub of India, making the project critical for meeting future traffic growth.
- 6-lane access-controlled Capital Region Ring Road in Odisha also approved at a cost of ₹8,307.74 crore.
- Project includes the Bhubaneswar Bypass, which will divert heavy commercial traffic away from Cuttack, Bhubaneswar, and Khordha cities.
- Road project will enhance freight movement efficiency, reduce logistics costs, and drive socio-economic growth in Odisha and eastern states.
- Expected to generate approximately 74.43 lakh person-days of direct employment and 93.04 lakh person-days of indirect employment.
- Project will strengthen connectivity between major religious and economic centers, opening new avenues for trade and industrial development.
About Odisha:
- Chief Minister: Mohan Charan Majhi
- Governor: Hari Babu Kambhampati
- Capital: Bhubaneswar
- National Parks: Simlipal National Park, Bhitarkanika National Park
- Wildlife Sanctuaries: Chandaka Wildlife Sanctuary, Nandankanan Zoological Park, Kuldiha Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Kotagarh Wildlife Sanctuary, Lakhari Valley Wildlife Sanctuary, Baisipalli Wildlife Sanctuary
About Rajasthan:
- Capital: Jaipur
- Governor: Haribhau Bagade
- Chief Minister: Bajan Lal Sharma
- National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
- Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary
Government Implements “Anna-Chakra” Supply Chain Optimisation Tool in 30 States/UTs
- The Government of India implemented the “Anna-Chakra” digital supply chain optimisation tool in 30 out of 31 targeted States/UTs, with Manipur as the only pending state.
- Developed to modernize the Public Distribution System (PDS), the tool uses data-driven route optimisation and logistics management.
Key Highlights
- It is expected to save ₹250 crore annually through reduced transportation costs, optimized truck loads, and minimized redundant routes.
- The tool also helps reduce CO2 emissions, supporting India’s climate change commitments and SDGs.
- Digital dashboards and predictive analytics provide supply chain transparency, preventing leakages/diversions and enabling real-time tracking.
- Ensures timely delivery of ration to beneficiaries, including those in remote and hard-to-reach areas.
- India’s PDS covers over 800 million people, making efficient logistics crucial for food security.
- Challenges: Pending integration in Manipur, training of officials/transporters, and continuous data updates for system performance.
About Manipur:
- Chief Minister: N. Biren Singh
- Governor: Ajay Kumar Bhalla
- Capital: Imphal
- National Parks: Keibul Lamjao National Park
- Wildlife Sanctuaries: Yangoupokpi-Lokchao Wildlife Sanctuary, Sirohi National Park, Manipur Zoological Garden, Ferenwild Sanctuary
Lok Sabha Passes Indian Institutes of Management (Amendment) Bill, 2025
- Lok Sabha passed the Indian Institutes of Management (Amendment) Bill, 2025 to amend the IIM Act, 2017.
- The Bill provides for the establishment of IIM Guwahati in Assam, addressing a long-standing regional demand.
Key Highlights
- ₹550 crore financial grant allocated for the new IIM.
- Union Education Minister Dharmendra Pradhan stated that 21 IIMs are operational in India and have become a recognized brand.
- Demand for IIMs has risen internationally; IIM Dubai campus to open next month.
- The Bill was passed without discussion amid opposition uproar over the SIR issue.
About Assam:
- Chief Minister: Himanta Biswa Sarma
- Governor: Lakshman Prasad Acharya
- Capital: Dispur
- National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
- Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary
Rajya Sabha Passes Mines and Minerals (Development and Regulation) Amendment Bill, 2025
- Rajya Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2025, after Lok Sabha approval.
- Bill aims to promote sustainable mining, zero-waste practices, and advance the National Critical Mineral Mission.
- Union Coal & Mines Minister G. Kishan Reddy stated the government is committed to transparency and modern technology in mining.
Key Highlights
- Critical minerals vital for EVs, batteries, LEDs, automotive, machinery, and space applications were largely neglected before 2014, leaving India dependent on imports.
- Under the National Critical Mineral Mission, 24 critical minerals identified; domestic production promoted through onshore & offshore exploration.
- First offshore mineral block auction (including polymetallic nodules in the Andaman Sea) launched in November 2024.
- India also exploring critical minerals abroad; agreements signed with Argentina & Zambia for resource development.
- Coal imports reduced significantly; states now have adequate supplies for power generation.
- National Mineral Exploration Trust renamed as National Mineral Exploration and Development Trust; royalty contribution raised from 2% to 3%.
- Provides mechanisms to add new minerals in existing leases and incentives for critical & strategic minerals production.
- India signed agreements with Australia, Argentina, Zambia, Peru, Zimbabwe, Mozambique, Malawi, Côte d’Ivoire, and organisations like the International Energy Agency to secure stable supplies.
Election Commission of India Introduces 28 Major Initiatives to Strengthen Electoral System
- Election Commission of India rolled out 28 major initiatives in the last six months to enhance transparency, efficiency, and inclusivity in elections.
- Reforms are based on six key pillars: stakeholder engagement, cleanup of electoral systems, use of technology, purification of rolls, ease of voting, and capacity building.
Key Highlights
- Steps for cleanup: delisting of inactive unrecognised parties, photo ID cards for BLOs, new verification procedures for EVM microcontrollers.
- Strengthened frameworks via national conferences and bilateral meetings with international election management bodies.
- ECINET launched – one-stop digital platform integrating 40+ applications and portals for voters, officials, and parties.
- Technology reforms include 100% webcasting at polling stations, real-time voter turnout updates, and mandatory VVPAT slip counts in case of mismatches.
- Electoral rolls strengthened: special revisions in Bihar and 4 states before bypolls, death registration linkage for automatic updates, removal of duplicate EPIC numbers, and 15-day voter ID delivery with SMS tracking.
- Voter convenience measures: mobile phone deposit counters, reduced voter limits per polling station, clearer information slips, and candidate booths allowed beyond 100m from polling stations.
- Capacity building: Training at IIIDEM for 7,000+ BLOs and supervisors, enhanced remuneration and honorariums for field/election officials, better refreshments, and training extended to Booth Level Agents, media officers, and police officials.
- Internal strengthening: biometric attendance, migration to e-Office, and relocation of functions to IIIDEM for efficiency.
RECENT NEWS
- On February 17, 2025, the Election Commissioner of India, Gyanesh Kumar, was officially appointed as the next Chief Election Commissioner (CEC) by the Law Ministry. This appointment marks a significant milestone, as he is the first CEC to be appointed under the new law governing the selection of Election Commission (EC) members.
CURRENT AFFAIRS: AWARDS AND HONOURS
Manika Vishwakarma Crowned Miss Universe India 2025; Opal Suchata Wins Miss World 2025
- Manika Vishwakarma from Ganganagar, Rajasthan crowned Miss Universe India 2025 in Jaipur, Rajasthan.
- Crowned by outgoing Miss Universe India Riya Sinha (2024 winner).
- She will represent India at the 74th Miss Universe 2025 in Thailand.
Key Highlights
- Founder of Neuronova; advocates for neurodivergence awareness (ADHD, etc.).
- Event saw participation from 50 contestants; finalists:
- Tanya Sharma (Uttar Pradesh) – 1st runner-up
- Mehak Dhingra (Haryana) – 2nd runner-up
- Amishi Kaushik (Haryana) – 3rd runner-up
- Miss Universe India 2025 was the second edition of the pageant, organized by Glamanand Group and K Sera Sera Box Office.
- Sub-contests began on 26th July 2025 in Indore, Madhya Pradesh.
- India’s past Miss Universe winners: Sushmita Sen (1994), Lara Dutta (2000), Harnaaz Sandhu (2021).
- Miss World 2025: Opal Suchata (Thailand) crowned winner at the 72nd Miss World 2025 held on 31st May 2025 at Hitex Exhibition Center, Hyderabad, Telangana.
- She became the first woman from Thailand to win Miss World.
- India has hosted Miss World three times: 1996 (Bengaluru), 2024 (Mumbai), 2025 (Hyderabad).
- First Miss World (1951, England): Kerstin Margareta Hakansson (Sweden).
- Six Indians crowned Miss World: Reita Faria (1966), Aishwarya Rai (1994), Diana Hayden (1997), Yukta Mookhey (1999), Priyanka Chopra (2000), Manushi Chhillar (2017).
CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS
Srinivasan K. Swamy chosen as President of the Advertising Agencies Association of India
- Srinivasan K. Swamy, Executive Group Chairman of R.K. Swamy Ltd., was elected President of the Advertising Agencies Association of India (AAAI) for 2025–26 at the AGM on August 14, 2025.
- Jaideep Gandhi was elected as the Vice-President of AAAI.
- The new board includes notable leaders such as Anupriya Acharya, Sam Balsara, Tanya Goyal, Tapas Gupta, and several others, listed alphabetically.
- The Immediate Past President, Prasanth Kumar, will serve on the Board as an ex-officio member.
- Swamy mentioned this marks his fourth term as AAAI President, with previous terms spanning 2004–2007.
- Srinivasan K. Swamy has been Chairman and World President of the International Advertising Association (IAA), and also chaired the Confederation of Asian Advertising Agencies Association and the Asian Federation of Advertising Associations (AFAA).
- He has also served as Chairman of the Advertising Standards Council of India and the Audit Bureau of Circulations, and as President of the India Chapter of IAA, the All India Management Association, and the Madras Chamber of Commerce & Industry.
CURRENT AFFAIRS : SCIENCE & TECHNOLOGY
Indian Space Research Organisation plans 40-storey rocket capable of carrying 75,000 kg payload to low Earth orbit
- The Indian Space Research Organisation (ISRO) is developing a new rocket, described as being the height of a 40-storey building, which will be capable of lifting a massive 75,000 kg payload into space.
- This is a huge increase from the 35-kg payload of its first indigenous rocket, the SLV-3 in 1980.
Key Highlights :
Future Missions and Timelines: Several ambitious projects have been approved:
- Gaganyaan: The first unmanned mission for the human spaceflight program is planned very shortly.
- Bharatiya Anthariksh Station: India’s own space station will be a reality by 2035, with initial modules starting as early as 2027.
- Moon Mission: India aims to land an astronaut on the moon and safely return them by a fully indigenous mission by 2040.
- Chandrayaan-4: The program has been approved.
- Venus Orbiter Mission: This mission has also been approved to study planet Venus.
- Next Generation Launch Vehicle: A heavy-lift launch vehicle with a recoverable first stage has been approved.
Recent and Ongoing Projects:
- India’s first astronaut, Shubhanshu Shukla, recently returned from the International Space Station (ISS).
- The NISAR satellite, a joint project with NASA, was launched on July 30, 2025, to monitor Earth’s ecosystems.
- ISRO plans to launch a GSAT-7R military communication satellite for the Indian Navy this year.
- The total number of satellites India has in orbit is 55, with a goal to triple that number in the next 3-4 years.
Marriott International teams up with Flipkart to launch India’s first dual-loyalty programme integrating Bonvoy and SuperCoins
- Marriott International and Flipkart have partnered to create a dual-loyalty program in India, a first-of-its-kind initiative that integrates their respective loyalty platforms, Marriott Bonvoy and Flipkart SuperCoins.
- The collaboration is a long-term strategy to leverage the rise in domestic and outbound travel from India, as well as Flipkart’s massive customer base of over 700 million members.
- Members can now earn and redeem points across both platforms. The conversion rate is 2,000 Bonvoy points for 1,000 SuperCoins and vice versa, while customers also earn 100 Bonvoy points for every ₹1,000 spent on Flipkart.
- This partnership is expected to boost revenue and market share for both companies, particularly for Flipkart’s travel-related businesses Flipkart Travel and Cleartrip, which it acquired in April 2021.
- Marriott expects to double its city presence in India by the end of next year, expanding from its current portfolio of 159 hotels across 40 cities and targeting customers in Tier 2 and Tier 3 cities.
Indian Institute of Technology Madras and FedEx inaugurate SMART Centre to advance logistics solutions
- Indian Institute of Technology Madras (IIT-M) has partnered with Federal Express Corporation (FedEx) to launch the FedEx SMART Centre (Supply Chain Modelling, Algorithms, Research and Technology Centre).
Key Highlights :
- The center is backed by a $5 million grant from FedEx and will focus on developing sustainable, technology-driven logistics solutions.
- The research will be interdisciplinary, covering areas such as carbon-neutral operations, autonomous delivery systems, EV infrastructure, predictive analytics, and AI-driven worker safety.
- The collaboration aims to create a hub for research, capacity development, and practical innovation by combining academic expertise with industry knowledge.
- Beyond research, the SMART Centre will have a Pan-India impact through talent outreach, internships, and student competitions, helping to develop a skilled workforce for the logistics sector.
CURRENT AFFAIRS: IMPORTANT DAYS
Sadbhavana Diwas 2025 – August 20
- Sadbhavana Diwas is celebrated on 20 August every year.
- The birth anniversary of former Prime Minister Late Shri Rajiv Gandhi is observed as “Sadbhavana Diwas” on August 20.
History
- On Sadbhavana Diwas in India, numerous cultural events and contests are held across states.
- The main goal of Sadbhavana Diwas is to promote consciousness among citizens about these critical environmental challenges. Planting saplings is also proposed on this day.
- Indian citizens are expected to make the following pledge on every Sadbhavana Diwas Day “I take this solemn pledge that I will work for the emotional oneness and harmony of all the people of India regardless of caste, region, religion, or language. I further pledge that I shall resolve all differences among us through dialogue and constitutional means without resorting to violence”.
Daily CA One- Liner: August 21
- Chief Minister (CM) Mamata Banerjee announced a new rehabilitation scheme named ‘Sramashree’ for migrant labourers who were allegedly harassed in Bharatiya Janata Party (BJP)-ruled states
- Union Minister for Commerce and Industry Shri Piyush Goyal introduced the Jan Vishwas (Amendment of Provisions) Bill, 2025 in Lok Sabha.
- As of 31 July 2025, total Pradhan Mantri Jan Dhan Yojana (PMJDY) accounts – 56.03 crore, of which 04 crore (23%) are inoperative.
- Cabinet approved the Promotion and Regulation of Online Gaming Bill, 2025 to be introduced in Lok Sabha
- Greenfield Airport at Kota-Bundi, Rajasthan approved at an estimated cost of ₹1,507 crore
- The Government of India implemented the “Anna-Chakra” digital supply chain optimisation tool in 30 out of 31 targeted States/UTs, with Manipur as the only pending state
- Lok Sabha passed the Indian Institutes of Management (Amendment) Bill, 2025 to amend the IIM Act, 2017
- Rajya Sabha passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2025, after Lok Sabha approval
- Election Commission of India rolled out 28 major initiatives in the last six months to enhance transparency, efficiency, and inclusivity in elections
- Manika Vishwakarma from Ganganagar, Rajasthan crowned Miss Universe India 2025 in Jaipur, Rajasthan.
- The Non-performing Asset (NPA) under Pradhan Mantri Mudra Yojana (PMMY) (Outstanding Loans) reached 9.81% in March 2025, which is almost three times higher than the average MSME NPA rate of 3.6%.
- The SBI research report estimates a ₹45,000 crore revenue loss in FY25 due to GST rate rationalisation, but expects minimal impact on the fiscal deficit as lower rates will boost consumption.
- ICRA, a credit rating agency, forecasts India’s GDP to grow by 6.7% in the first quarter of the current financial year (April-June 2025).
- Punjab National Bank (PNB) has migrated its corporate website to pnb.bank.in from www.pnb.co.in, becoming the first Public Sector Bank in India to adopt the .bank.in domain.
- The Export-Import Bank of India (India Exim Bank) and the ECOWAS Bank for Investment and Development (EBID) have signed a $40 million commercial credit line agreement.
- According to a study by the Reserve Bank of India (RBI), Foreign liabilities of Indian Mutual Funds (MFs) rose 19.9% in FY25 to ₹2.6 lakh crore (market value), compared to ₹2.1 lakh crore in FY24.
- Srinivasan K. Swamy, Executive Group Chairman of R.K. Swamy Ltd., was elected President of the Advertising Agencies Association of India (AAAI) for 2025–26 at the AGM on August 14, 2025.
- The Indian Space Research Organisation (ISRO) is developing a new rocket, described as being the height of a 40-storey building, which will be capable of lifting a massive 75,000 kg payload into space.
- Marriott International and Flipkart have partnered to create a dual-loyalty program in India, a first-of-its-kind initiative that integrates their respective loyalty platforms, Marriott Bonvoy and Flipkart SuperCoins.
- Indian Institute of Technology Madras (IIT-M) has partnered with Federal Express Corporation (FedEx) to launch the FedEx SMART Centre (Supply Chain Modelling, Algorithms, Research and Technology Centre).
- Sadbhavana Diwas is celebrated on 20 August every year
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