DAILY CURRENT AFFAIRS AND GK UPDATE – 07.08.2025
NATIONAL AFFAIRS
Prime Minister Modi Inaugurates Kartavya Bhavan-3 in New Delhi
PM Narendra Modi inaugurated Kartavya Bhavan-3 at Kartavya Path, New Delhi
First among several upcoming Common Central Secretariat buildings
Part of Central Vista redevelopment project
Aimed at streamlining administrative processes and enabling agile governance
Project includes construction of new Parliament building and Vice President’s Enclave
National Handloom Day Celebrated on August 7, 2025
11th National Handloom Day observed across India
Theme: “Handlooms—Empowering Women, Empowering the Nation”
Celebrated at Bharat Mandapam, New Delhi
President Droupadi Murmu served as Chief Guest
Sant Kabir Handloom Awards and National Handloom Awards presented to 24 awardees
Sant Kabir Award: Rs 3.5 lakh cash, gold coin, Tamrapatra, shawl, and certificate
National Handloom Award: Rs 2 lakh cash, Tamrapatra, shawl, and certificate
IIT Palakkad Launches India’s First AI-Powered Learning App ‘Tutoz’
Revolutionary AI-powered learning application for competitive exam preparation
Designed for JEE, NEET, and other entrance examinations
First of its kind in India’s educational technology landscape
Developed by IIT Palakkad, Kerala
Defence Acquisition Council Approves Rs 67,000 Crore Defence Proposals
Major boost to operational capabilities of Indian Armed Forces
Approvals include thermal imager-based driver night sight for BMP vehicles
Medium Altitude Long Endurance drones for tri-service use
Mountain radars for Indian Air Force
Upgradation of SAKSHAM/SPYDER weapon systems
Compact Autonomous Surface Craft for Indian Navy
BrahMos Fire Control System and Launchers
BARAK-1 Point Defence Missile System upgrades
BANKING AND FINANCE
RBI Announces Consumer-Centric Financial Inclusion Schemes
RBI Governor Sanjay Malhotra announced three major schemes
Doorstep banking camps from July 1 to September 30, 2025, at Panchayat level
Enhanced financial access and simplified banking processes
Strengthened reach of government-supported financial inclusion schemes
UPI Rules Updated from August 1, 2025
Balance checks limited to 50 times per day
Account view limited to 25 times per day
Autopay mandates: 1 execution plus 3 retries during non-peak hours
Peak hours: 10 AM to 1 PM and 5 PM to 9:30 PM
No change in actual transaction limits for UPI, UPI Lite, or UPI Autopay
Banking Laws Amendment Act 2025 Effective from August 1
Minimum amount for ‘substantial interest’ raised to Rs 2 crore from Rs 5 lakh
Maximum term for cooperative bank directors increased from 8 to 10 years
Public Sector Banks can transfer unclaimed amounts to IEPF
Improved audit standards with statutory auditor remuneration provisions
RBI Monetary Policy Committee Maintains Repo Rate at 5.5%
Policy stance remains neutral
CPI inflation forecast for FY26 revised to 3.1% from 3.7%
GDP growth projection for FY26 maintained at 6.5%
CRR reduction to begin from September 2025
INTERNATIONAL NEWS
Bangladesh Elections Scheduled for February 2026
Chief Adviser Muhammad Yunus announces election timeline
General election planned for February 2026
Part of democratic transition process following political changes
Trump-Armenia-Azerbaijan Peace Talks
US President Donald Trump to host leaders on Friday
Potential framework peace agreement expected
Significant step toward resolving decades-long conflict
High-stakes diplomatic initiative
Hiroshima Day Observed on August 6, 2025
80th anniversary of atomic bombing commemoration
Record 120 countries and regions participated in memorial service
Moment of silence observed at 8:15 AM
Survivors emphasize nuclear disarmament message
Pope Leo XIV calls for justice to replace false sense of security
Wildfire Crisis in Southern France
Massive wildfire continues spreading
Over 1,500 firefighters battling flames
One person killed, 11 injured
Thousands evacuated from affected areas
SCIENCE AND TECHNOLOGY
ISRO Space Station Plans Progress
India’s 52-tonne space station development ongoing
First module launch targeted for 2028
Complete station expected in orbit by 2035
Five-module design due to launch capacity constraints
Scientific experiments in material manufacturing and biological studies planned
Gaganyaan Mission Update
Uncrewed mission scheduled for December 2025
Human spaceflight mission planned for first quarter 2027
Human-rating of launcher completed
Crew escape mechanism nearly complete
National programme involving Air Force and Navy
Kerala Student Develops AI Voice-to-Handwriting Device
Engineering graduate Ajay H creates ‘Talk to Write’ system
Showcased at Ente Keralam Expo 2025
Converts speech into written text using AI
Promotes inclusive technology development
Demonstrates India’s growing AI innovation capabilities
SPORTS NEWS
Anderson-Tendulkar Trophy 2025 Ends in Draw
India and England series concluded 2-2
Mohammed Siraj achieves career-best ICC Test ranking
Climbed 12 places to achieve career-high position
Outstanding nine-wicket haul in final Test at The Oval
Crucial role in India’s dramatic six-run victory
UPKL Adds Kanpur Warriors for Season 2
New team expansion for Ultimate Kho Kho League
Owned by BA Sports Club
Aims to grow kabaddi in North India
Focus on promoting youth talent in traditional strongholds
ENVIRONMENT AND CLIMATE
Climate Change Impact on India
Economic losses of $79.5 billion over two decades
Rising sea levels threatening coastal cities
Mumbai, Chennai, Kochi risk partial submergence by 2040
Sundarbans mangroves could lose 80% area by 2100
Double challenge of heatwaves and flooding
Water scarcity affecting 600 million people
AWARDS AND HONOURS
Sant Kabir Handloom Awards 2024
5 Sant Kabir awardees recognized
19 National Handloom awardees honored
Awards presented during 11th National Handloom Day
Recognition for outstanding contribution to handloom sector
IMPORTANT DAYS
National Handloom Day – August 7
Commemorates Swadeshi Movement launch in 1905
Celebrates India’s handloom industry contribution
Promotes sustainable fashion and rural employment
Recognizes weavers’ socio-economic importance
Hiroshima Day – August 6
80th anniversary of atomic bombing
Global remembrance and nuclear disarmament advocacy
Educational programs on nuclear weapons consequences
Peace memorial ceremonies worldwide
Friendship Day – August 3, 2025
Celebrated on first Sunday of August in India
International Day of Friendship observed July 30 globally
Exchange of friendship bands and messages
Strengthening bonds between friends and communities
ECONOMIC UPDATES
Economic Survey 2024-25 Highlights
GDP growth projected between 6.3-6.8% for FY26
Real GDP estimated at 6.4% for FY25
Retail inflation decreased from 5.4% to 4.9%
Services sector contributes 55.3% to total GVA
Foreign Direct Investment increased by 17.9% year-over-year
Agriculture sector expected to grow at 3.8%
Stock Market Developments
Nifty faces pressure from Trump tariff announcements
US President imposes additional 25% tariff on Indian goods
Total tariff burden on India reaches 50%
Weekly options expiry creates additional volatility
Textile and export-oriented stocks under pressure
COMPETITIVE EXAM FOCUS
Key Points for Banking Exams
UPI transaction limit changes effective August 1
Banking Laws Amendment Act provisions
RBI policy decisions and financial inclusion measures
New technological developments in banking sector
UPSC Relevant Topics
India-US space cooperation and NISAR satellite
Defence modernization and strategic partnerships
Climate change challenges and policy responses
Handloom industry and cultural heritage preservation
SSC and Railway Exam Points
National and international current events
Government schemes and policy implementations
Sports achievements and rankings
Important days and their significance
