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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Nomura lowers India’s FY26 Gross Domestic Product forecast to 5.8% amid sustained 50% US tariff

• Nomura has cut India’s FY26 Gross Domestic Product (GDP) forecast to 5.8% (worst-case scenario) from 6.2%, assuming the 50% US tariff on India remains in place throughout the year.
• In the base case, GDP growth is revised to 6%, if the 25% penalty on Russian oil imports is removed after three months.

Key Highlights :

• Nomura’s base case assumes the 25% reciprocal tariff remains until FY26, but the Russian oil penalty is removed after November 2025.
• The downgrade is attributed to weaker exports, labor market spillovers, and lower investments, which are expected to offset any potential GST boost.
• Sonal Varma (Chief Economist, India & Asia ex-Japan) and Aurodeep Nandi are the authors of the Nomura report.
• Nomura has retained its FY26 CPI inflation forecast at 2.7% YoY, but has flagged downside risks due to GST changes and weak demand.
• The Current Account Deficit (CAD) is now expected to widen to 1% of GDP in FY26 from its previous forecast of 0.8%.
• The US imposed an additional 25% penalty tariff on August 27, 2025, which brought the total tariff to 50% on approximately 67 tariff lines of Indian imports.
• This results in an effective tariff rate of 33.6% on Indian exports to the US.

India’s July Industrial production growth rises 3.5% driven by manufacturing and consumer goods

• Industrial production growth (IIP) rose to a four-month high of 3.5% in July 2025, compared to 1.5% in June 2025.

Key Highlights :

• Manufacturing output increased to a six-month high of 5.4% in July, up from 3.7% in June.
• Electricity sector output turned positive at 0.6% in July after being negative for three consecutive months.
• Mining output contracted 7.2% in July, remaining in the negative for the fourth straight month.
• For April–July FY 2025-26, IIP growth averaged 2.3%, lower than 5.4% in the same period last year.
• By use-based classification, all categories grew in July 2025 except primary goods, which contracted 1.7%.
• The construction goods sector was the standout performer, growing 11.9% in July, the highest in 21 months.
• Capital goods output improved to 5% in July from an eight-month low of 3% in June, indicating a pickup in investment activity.
• Intermediate goods output rose 5.8%, showing acceleration in July.
• On the demand side, consumer durables output grew 7.7% in July, marking a seven-month high.
• Consumer non-durables output grew 0.5% after five months of contraction.
• At the sectoral level, 12 of 23 sectors grew faster than overall IIP in July 2025, the most since August 2024.
• Strong growth was recorded in basic metals, fabricated metal products, electrical equipment, and transport equipment, all showing double-digit growth.

Securities and Exchange Board of India clears Life Insurance Corporation of India’s reclassification as public shareholder in IDBI Bank post divestment

• The Securities and Exchange Board of India (Sebi) has approved the reclassification of Life Insurance Corporation of India (LIC) as a public shareholder in IDBI Bank, a move connected to the government’s strategic disinvestment
• LIC’s voting rights have been capped at 10%, even though it holds a 49.24% equity stake in IDBI Bank as of June 2025.
• LIC will have no control over IDBI Bank, which means no board representation, special rights, or managerial positions.
• LIC must reduce its stake in IDBI Bank to 15% or less within 2 years of the strategic sale, in compliance with RBI’s promoter holding guidelines.
• The Cabinet Committee on Economic Affairs (CCEA) had approved the strategic disinvestment of IDBI Bank in May 2021.
• The Government of India holds 45.48% and LIC holds 49.24%. Together, they plan to sell a 60.7% stake.
• LIC was previously classified as a promoter after acquiring control of IDBI Bank in 2019.

Recent News :

• In Aug 2025, SEBI has proposed relaxing minimum public offer (MPO) requirements for very large companies to ease their burden of diluting large stakes during initial public offerings (IPOs).

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Government selects Goldman Sachs as advisor for stake divestment in four public sector banks

• The Government of India has appointed Goldman Sachs as a transaction advisor for the divestment of its stake in four public sector banks: Indian Overseas Bank (IOB), Central Bank of India, UCO Bank, and Punjab & Sind Bank.
• The Centre holds over a 90% stake in each of these banks.
• Goldman Sachs‘s role includes identifying potential bidders and structuring deals to facilitate the sale.
• State-run listed companies, including these banks, are exempt from the 25% minimum public shareholding (MPS) rule until August 1, 2026.

L&T Finance partners with Google Pay to provide loan products through the app

• L&T Finance Limited. (LTF), a leading non-banking financial company (NBFC), has announced a collaboration with Google Pay to offer loan products directly through the payments app.
• The partnership supports LTF’s digital-first lending strategy and strengthens its product diversification efforts.
• Through this tie-up, eligible Google Pay users can apply for and avail LTF’s personal loans seamlessly within the app.
• This collaboration follows LTF’s partnerships with PhonePe, CRED, and Amazon Pay during FY25.
• Managing Director & CEO of L&T Finance : Sudipta Roy

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Government Extends Import Duty Exemption on Cotton till 31st December 2025

• Government of India extended import duty exemption on cotton till 31st December 2025, notified by the Central Board of Indirect Taxes and Customs (CBIC).
• Aim: Stabilise input costs across the textile value chain – yarn, fabric, garments, and made-ups – benefiting both manufacturers and consumers.

Key Highlights

• Textile industry is India’s second-largest employment provider, employing over 45 million people.
• Exemption helps bridge the demand–supply gap and ensures the industry remains globally competitive.
• Imports mainly cater to specialized industrial requirements or brand-linked export contracts; they do not replace domestic cotton.
• Consistent cotton supply expected to spur production of higher-value fabrics and garments, supporting ‘Make in India’ and domestic manufacturing goals.
• Farmers’ interests safeguarded through Minimum Support Price (MSP) operated by Cotton Corporation of India (CCI), ensuring at least 50% above cost of production.
• Imports usually occur during lean periods or when domestic stocks are insufficient, minimizing competition with domestic procurement.
• Government retains flexibility to impose safeguards and monitors cotton prices closely.
• Cotton textile exports accounted for 33% of India’s total textile and apparel exports during April–October 2024–25, valued at USD 7.08 billion, making it the second-largest contributor after readymade garments.
• With 95% of domestic cotton consumed by the textile industry, duty exemption indirectly benefits farmers as mills can pay better prices due to enhanced global competitiveness.

Andhra Pradesh State Investment Promotion Board Approves ₹53,922 Crore Investment Projects

• The State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister N. Chandrababu Naidu, approved 30 new investment projects worth ₹53,922 crore at its 10th meeting.
• These projects are expected to generate 83,437 new jobs, reaffirming Andhra Pradesh’s position as a major industrial and infrastructure hub.
• The projects span diverse sectors including renewable energy, automotive, telecom, and green technology.

Key Highlights

• Notable approvals include: HFCL – ₹1,197 crore at Madakasira, Apollo Tyres – ₹1,100 crore in Chittoor district, Dhirubhai Ambani Green Tech Park – ₹1,843 crore at Krishnapatnam, Serentika Renewables – ₹2,000 crore in Anantapur.
• Key focus areas include Ease of Doing Business, electric mobility (Mahindra EV plant), food processing and horticulture (especially in Chittoor & Rayalaseema), and MSME parks in every assembly constituency.
• The investments will create jobs, boost renewable energy and green technology, strengthen manufacturing in tyres, telecom, and EVs, and provide long-term support to farmers through food processing industries.

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

RECENT NEWS

• The Government of Andhra Pradesh has started a new scheme called ‘Digi-Lakshmi’ on June 30, 2025, to help urban poor women become digital service providers. The State plans to set up 9,034 Common Service Centres (CSCs) across all Urban Local Bodies (ULBs).

India Launches First National Biofoundry Network (NBN) under BioE3 Policy

• Union Minister Dr. Jitendra Singh launched India’s first National Biofoundry Network (NBN) under the BioE3 Policy (Economy, Environment, Employment).
• The initiative involves 6 biotechnology institutions to scale up proof-of-concept, strengthen indigenous biomanufacturing, and create employment.

Key Highlights

• Aim of BioE3 Policy: Accelerate development and commercialization of bio-based technologies through Bio-AI Hubs, Biofoundries, and Biomanufacturing Hubs.
• Implemented by: Department of Biotechnology (DBT), Ministry of Science & Technology.
• 6 priority sectors include bio-based chemicals & enzymes, functional foods & smart proteins, precision biotherapeutics, climate resilient agriculture, carbon capture & utilization, and futuristic marine & space research.
• Achievements in one year include the launch of India’s first Biomanufacturing Institute at Mohali (Punjab), more than 12 joint research calls in advanced biotech areas, and a DBT-State MoU with Assam for a BioE3 Cell.
• Bioeconomy Definition: Use of renewable biological resources for food, energy, and industrial goods, supporting sustainability & economic growth.
• India’s Bioeconomy Growth: from $10 billion (2014) to $165.7 billion (2024), with a target of $300 billion by 2030, contributing 4.25% to GDP.
• Objectives of NBN: strengthen indigenous biomanufacturing, accelerate research-to-market translation, support start-ups & youth innovation, and make India a global biotech leader.
• Features of NBN: end-to-end facility (design to scale-up), focus on synthetic biology, CRISPR gene editing, green biotech, linked with BioE3 Challenge for innovation funding, international collaborations, and job creation with sustainability focus.

Delhi Chief Minister Rekha Gupta Flags Off ‘U-Special’ Bus Service for Delhi University Students

• Delhi Chief Minister Rekha Gupta flagged off a new fleet of ‘U-Special’ buses to improve daily commute for Delhi University students.
• The service revives the long-defunct U-Special buses, making them electric, modern, and student-friendly.

Key Highlights

• Earlier administrations (AAP and Congress) were criticized for neglecting the service; revival done under the BJP-led Delhi government.
• Key Features of U-Special Fleet:
  • Electric and air-conditioned buses
  • CCTV cameras installed
  • Panic buttons for student safety
  • Eco-friendly, contributing to cleaner air in Delhi
• The initiative aims to provide a safe, cost-effective, and sustainable transport option for university students.
• CM also addressed concerns over the Delhi Metro fare hike (effective 25 August 2025):
  • Fare raised by ₹1–₹4 depending on distance; ₹5 hike on the Airport Express Line.
  • Government considering metro concession passes for students to reduce financial burden.

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

Ministry of Minority Affairs Launches New Module on UMEED Portal for Inclusive Welfare

• Ministry of Minority Affairs launched an additional module on the UMEED Portal to support widows, divorced women, and orphans with maintenance from Waqf-alal-aulad properties.
• Initiative implemented under Rule 8(2) of Unified Waqf Management, Empowerment, Efficiency and Development Rules, 2025, framed under Section 3(r)(iv) of the Act, 1995.

Key Highlights

• Features of the module:
  • Aadhaar-based authentication of beneficiaries.
  • Online application and approval by State/UT Waqf Boards.
  • Direct Benefit Transfer (DBT) to bank accounts.
• Aims to ensure transparency, efficiency, and accountability while removing delays and barriers.
• Reaffirms government’s focus on inclusive development and social justice, especially for minority women and children.
• Encourages State/UT Waqf Boards and Mutawallis to ensure wide implementation and awareness among beneficiaries.

RECENT NEWS

• The Ministry of Minority Affairs (MoMA) celebrated a significant milestone, marking 11 years of Seva, Good Governance, and Welfare under the leadership of the Modi Government. The event, held at MoMA headquarters, served as a tribute to the transformative journey that has redefined the landscape of minority welfare in India.

India’s First Semiconductor OSAT Pilot Line Facility Inaugurated at Sanand, Gujarat

• Union IT Minister Ashwini Vaishnaw and Gujarat CM Bhupendra Patel inaugurated India’s first end-to-end Semiconductor OSAT (Outsourced Semiconductor Assembly and Test) Pilot Line Facility of CG Power at Sanand, Gujarat.
• Marks a historic milestone under the India Semiconductor Mission (ISM), which has approved 10 projects so far.

Key Highlights

• OSAT pilot line will help in chip design, assembly, testing, and packaging, with chips used for customer qualification before full-scale production.
• Government focus: Develop global talent base → partnered with 270 universities, enabled access to state-of-the-art semiconductor design tools (recorded 1.2 crore usages in 2025).
• Outcome: 20 chips designed by 17 institutions fabricated at SCL, Mohali.
• CG Semi investment: ₹7,600 crore (~USD 870 million) for two facilities (G1 & G2) at Sanand.
  • G1 facility (inaugurated today): Peak capacity of 0.5 million units/day, ISO 9001 & IATF 16949 certifications in process; commercial production to begin in 2026.
  • G2 facility (under construction): To be completed by end-2026, capacity of 14.5 million units/day.
• Facilities expected to create 5,000+ direct & indirect jobs.
• CG Semi JV partners: CG Power (Murugappa Group), Renesas Electronics (Japan), Stars Microelectronics (Thailand).
• Facility supports Atmanirbhar Bharat vision, positioning India as a global hub for semiconductor design & manufacturing.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

RECENT NEWS

• Gujarat has become the first Indian state to launch a Tribal Genome Sequencing Project, aimed at improving healthcare for tribal communities through genetic research. The initiative focuses on early detection of hereditary diseases and development of personalised medical solutions using genome data.

CURRENT AFFAIRS : DEFENCE NEWS

Raksha Rajya Mantri Sanjay Seth launches MILMEDICON-2025

• Raksha Rajya Mantri Sanjay Seth inaugurated MILMEDICON-2025 on August 28, 2025, at Manekshaw Centre, New Delhi.
• Organised by DGMS (Army), the conference focuses on innovations, challenges and reforms in military medicine
• The conference’s theme is “International Conference on Physical and Mental Trauma in Military Settings”, and it was organized by the Directorate General of Medical Services (Army).
• The two-day conference focuses on innovations, challenges, and reforms in military medicine, aligning with the Indian Army’s Year of Reforms.
• MILMEDICON-2025 also commemorates the Centenary (100 years) of the Military Nursing Service, celebrating Nari Shakti in combat medical care.
• Key topics of discussion include Advanced Combat Trauma Care, AI integration in Military Healthcare, Emergency and Battlefield Medical Response, and Women in Combat and Leadership Roles.
• The conference saw participation from over 15 foreign countries, along with the Indian Armed Forces, international delegations, civilian healthcare experts, and academia.

India, Thailand to hold 14th edition of Exercise Maitree at Umroi, Meghalaya from Sept 1–14, 2025

• The 14th edition of Exercise Maitree, a bilateral military exercise between India and Thailand, is scheduled to take place at Umroi, Meghalaya, from September 1 to 14, 2025.
• The main objective is to enhance operational skills for both armies in conducting joint counter-terrorism operations in semi-urban areas.
• The exercise will focus on developing tactical and technical skills for counter-insurgency and counter-terrorist operations under a UN mandate, covering both rural and urban environments.
• The 13th edition of Exercise Maitree was held in Tak Province, Thailand, from 1st to 15th July 2024 with each country deploying 76 soldiers.
• India’s representation was the Ladakh Scouts, while Thailand’s was the 1st Battalion of the 14th Infantry Regiment.

Indian Army holds first-ever Exercise Aarogya Setu in Assam’s Tinsukia district

• The Indian Army organized the maiden Exercise Aarogya Setu at Rupai, Doomdooma, Tinsukia district, Assam.
• This was the first-ever civil-military medical fusion exercise in the region.
• The exercise aimed to strengthen cooperation between the Army Medical Corps, senior civil doctors from reputed hospitals, Primary Health Centres (PHCs) of Tinsukia, and the Northern Frontier Railway Hospital, Tinsukia.
• A key highlight was the introduction of the train ambulance concept by a doctor from the Northern Frontier Railway Hospital, showcasing a life-saving facility.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Satish Kumar’s term extended by one year as Railway Board Chairman and Chief Executive Officer

• The Government of India has reappointed Satish Kumar as Chairman and Chief Executive Officer (CEO) of the Railway Board for a one-year term, effective September 1, 2025.
• This is the first extension for this post in five years.
• The Appointments Committee of the Cabinet (ACC) approved his re-employment on a contract basis under existing terms.
• Satish Kumar took charge in September 2024, becoming the first Dalit (SC/ST) to lead the Railway Board.
• He is from the Indian Railway Service of Mechanical Engineers (IRSME) and started his career in 1986.
• He will now oversee the completion and rollout of Vande Bharat sleeper trains.
• His career postings include the Jhansi Division (Central Railway), Diesel Locomotive Works (Varanasi), North Eastern Railway (Gorakhpur), and Patiala Locomotive Works.

India names veteran diplomat Dinesh K. Patnaik as new High Commissioner to Canada to mend strained ties

• India has appointed Dinesh K. Patnaik, a veteran diplomat, as the next envoy to Canada, in a move aimed at restoring strained bilateral ties.
• This appointment coincides with Canada naming Christopher Cooter as its High Commissioner to India.
• Dinesh K. Patnaik is from the 1990 batch of the Indian Foreign Service (IFS) and has over 25 years of diplomatic experience.
• He is currently the Director General of the Indian Council for Cultural Relations (ICCR).
• Patnaik has served in various Indian missions, including in Beijing, Vienna, Dhaka, and Geneva, and within the MEA’s divisions for UN, Africa, Europe, and External Publicity.
• Most recently, he was India’s Ambassador to Spain before his appointment to Canada.
• The move follows a 2023 diplomatic row that began after Canada accused India of involvement in the killing of Khalistani separatist Hardeep Singh Nijjar.
• The decision to restore envoys was made after discussions between PM Narendra Modi and Canadian PM Mark Carney at the G7 Summit in 2025.

CURRENT AFFAIRS: SPORTS NEWS

Neeraj Chopra Secures 2nd Place at Zurich Diamond League Final 2025

• Neeraj Chopra, Olympic and World Champion, finished 2nd place at the Zurich Diamond League Final 2025 with a final throw of 85.01m.
• This marked his 26th consecutive top-two finish in international javelin competitions.
• Chopra’s throw sequence: 84.35m (1st), 82.00m (2nd), 3rd–5th fouls, 85.01m (6th, secured 2nd position).

Key Highlights

• Germany’s Julian Weber clinched gold with a world-leading throw of 91.51m (2nd attempt, personal best).
• Keshorn Walcott (Trinidad & Tobago) secured 3rd place with 84.95m.
• Other results: Anderson Peters (82.06m, 4th), Julius Yego (82.01m, 5th), Andrian Mardare (81.81m, 6th), Simon Wieland (81.29m, 7th).
• Neeraj overtook Walcott in the final round, showing composure under pressure.
• Significance: Neeraj’s consistency makes him one of the most reliable and consistent athletes in world athletics, maintaining podium finishes since Tokyo 2020 Olympics.
• He now focuses on defending his World Championship title at the World Athletics Championships in Tokyo starting 13th September 2025.

RECENT NEWS

• India’s golden boy of athletics, Neeraj Chopra, continued his dominant form in the 2025 athletics season by winning the men’s javelin throw title at the prestigious Ostrava Golden Spike meet held in the Czech Republic on June 25, 2025.

Minerva Academy FC Creates History with European Treble in Youth Football

• Union Minister for Youth Affairs & Sports and Labour & Employment, Dr. Mansukh Mandaviya, felicitated young footballers of Minerva Academy Football Club, Mohali in New Delhi.
• The U-14/15 squad (22 players) made history in July–August 2025 by winning the Gothia Cup (Sweden), Dana Cup (Denmark), and Norway Cup (Norway) — completing a European treble, never achieved before by an Indian team.

Key Highlights:

• The team remained unbeaten in 26 international matches, scoring 295 goals while conceding very few, against youth clubs from South America, Europe, and others.
• Tournament Significance: Gothia Cup, Dana Cup, and Norway Cup are considered three of the most prestigious youth football competitions globally.
• Minerva Academy FC: A Khelo India Accredited Academy, one of six Indian clubs in the U-14 Boys category at Gothia Cup 2025.
  • Defeated Argentina’s Escuela de Football 18 Tucumán 4–0 in the Gothia Cup final, known as the ‘Youth World Cup’.
• Individual Honours:
  • Konthoujam Yohenba Singh – Best Player, Gothia Cup.
  • Huidrom Tony – Best Player, Dana Cup.

CURRENT AFFAIRS: IMPORTANT DAYS

Small Industry Day 2025 – August 30

• The Small Industry Day is an annual celebration observed on 30th August.
• This day is dedicated to promoting small businesses nationwide and offering job opportunities to unemployed males and females for the betterment of their life.
• The theme for India’s National Small Industry Day on August 30, 2025, is “Enhancing the role of Micro-, Small and Medium-sized Enterprises (MSMEs) as drivers of Sustainable Growth and Innovation”.

History

• The government of India had reportedly introduced an extensive policy package for the small-scale industry on August 30, 2000, to support small businesses in the country.
• Small Scale Industry (SSI) registration is used interchangeably with micro, small, and medium enterprise(MSME) registration while the MSME Development Act 2006 provides for facilitating the promotion.
• Small Industry Day is celebrated since 2017 following a resolution passed in the Assembly during the year.
• According to a UN blog, formal and informal MSMEs make up over 90 percent of all firms and account, on average for 70 percent of total employment and 50 percent of GDP worldwide.
• The importance of the small-scale business sector is huge in the overall growth of a Nation.

Daily CA One- Liner: August 30

• Government of India extended import duty exemption on cotton till 31st December 2025, notified by the Central Board of Indirect Taxes and Customs (CBIC).

• The State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister Chandrababu Naidu, approved 30 new investment projects worth ₹53,922 crore at its 10th meeting
• Union Minister Dr. Jitendra Singh launched India’s first National Biofoundry Network (NBN) under the BioE3 Policy
• Delhi Chief Minister Rekha Gupta flagged off a new fleet of ‘U-Special’ buses to improve daily commute for Delhi University students
• Ministry of Minority Affairs launched an additional module on the UMEED Portal to support widows, divorced women, and orphans with maintenance from Waqf-alal-aulad properties
• Union IT Minister Ashwini Vaishnaw and Gujarat CM Bhupendra Patel inaugurated India’s first end-to-end Semiconductor OSAT (Outsourced Semiconductor Assembly and Test) Pilot Line Facility of CG Power at Sanand, Gujarat
• Neeraj Chopra, Olympic and World Champion, finished 2nd place at the Zurich Diamond League Final 2025 with a final throw of 85.01m
• Union Minister for Youth Affairs & Sports and Labour & Employment, Dr. Mansukh Mandaviya, felicitated young footballers of Minerva Academy Football Club, Mohali in New Delhi

• Nomura has cut India’s FY26 Gross Domestic Product (GDP) forecast to 5.8% (worst-case scenario) from 6.2%, assuming the 50% US tariff on India remains in place throughout the year.
• Industrial production growth (IIP) rose to a four-month high of 3.5% in July 2025, compared to 1.5% in June 2025.
• The Securities and Exchange Board of India (Sebi) has approved the reclassification of Life Insurance Corporation of India (LIC) as a public shareholder in IDBI Bank, a move connected to the government’s strategic disinvestment process.
• The Government of India has appointed Goldman Sachs as a transaction advisor for the divestment of its stake in four public sector banks: Indian Overseas Bank (IOB), Central Bank of India, UCO Bank, and Punjab & Sind Bank.
• L&T Finance Limited. (LTF), a leading non-banking financial company (NBFC), has announced a collaboration with Google Pay to offer loan products directly through the payments app.
• Raksha Rajya Mantri Sanjay Seth inaugurated MILMEDICON-2025 on August 28, 2025, at Manekshaw Centre, New Delhi.
• The 14th edition of Exercise Maitree, a bilateral military exercise between India and Thailand, is scheduled to take place at Umroi, Meghalaya, from September 1 to 14, 2025.
• The Indian Army organized the maiden Exercise Aarogya Setu at Rupai, Doomdooma, Tinsukia district, Assam.
• The Government of India has reappointed Satish Kumar as Chairman and Chief Executive Officer (CEO) of the Railway Board for a one-year term, effective September 1, 2025.
• India has appointed Dinesh K. Patnaik, a veteran diplomat, as the next envoy to Canada, in a move aimed at restoring strained bilateral ties.

• The Small Industry Day is an annual celebration observed on 30th August.