National Affairs – India
RBI Monetary Policy Update August 2025
RBI keeps repo rate unchanged at 5.50% – Monetary Policy Committee unanimously decided to maintain current rates after previous 100 basis points cut since February 2025
Inflation forecast revised downward to 3.1% for FY26 – Earlier projection was 3.7%, reflecting favorable monsoon conditions and controlled food prices
GDP growth projection retained at 6.5% for FY26 with quarterly estimates of Q1 at 6.5%, Q2 at 6.7%, Q3 at 6.6%, and Q4 at 6.3%
Policy stance remains neutral – RBI awaits full transmission of earlier rate cuts to lending rates before making further moves
CRR cut implementation from September 2025 – Cash Reserve Ratio reduction announced in June will begin next month
Banking and Financial Developments
Banking Laws Amendment Act 2025 comes into effect – Key provisions include raising substantial interest threshold from ₹5 lakh to ₹2 crore, extending cooperative bank directors’ tenure to 10 years
AU Small Finance Bank gets RBI nod for universal bank status – First Small Finance Bank to receive approval for transition to universal banking license
UPI transactions cross 707 million daily milestone – New record achieved on August 2, 2025, marking first time daily count exceeded 700 million
Final co-lending norms issued by RBI – Mandatory 10% retention requirement for all regulated entities in co-lending arrangements with enhanced risk sharing transparency
Public sector banks to remove minimum balance charges – Indian Bank and Punjab National Bank announced elimination of minimum balance requirements
Government Policy and Schemes
Cabinet approves ₹30,000 crore compensation for Oil Marketing Companies for domestic LPG losses
Pradhan Mantri Kisan Sampada Yojana budget of ₹6,520 crore approved – Focus on food processing infrastructure development
₹12,000 crore targeted subsidy approved for Pradhan Mantri Ujjwala Yojana continuation till 2025-26
Moldova joins International Solar Alliance as 107th member nation
Marakkanam-Puducherry highway project sanctioned – ₹2,157 crore approved for 4-lane construction under Hybrid Annuity Mode
Election Commission Controversy
EC demands Rahul Gandhi sign formal declaration on voter fraud allegations or apologize to nation
CCTV footage retention reduced to 45 days – Election Commission’s decision faces criticism, matter pending before Supreme Court
CEOs of Karnataka, Maharashtra, Haryana seek oath-backed evidence from Gandhi for vote theft claims
RTI query on CCTV rule reasons refused – Commission cites pending Supreme Court case as ground for information denial
Special Intensive Revision process for Bihar voter list continues amid political controversy
International Affairs
Trump Administration Developments
Trump announces meeting with Putin on August 15 in Alaska to discuss Ukraine war resolution – First Putin visit to US in a decade
25% tariff imposed on Indian exports effectively doubling existing duties to 50%, no trade negotiations until pending issues resolved
Trump rules out India trade talks until current disputes settled, adding pressure on bilateral relations
Stephen Miran nominated to Federal Reserve Board of Governors position to replace Adri Kug
Middle East Crisis
Israel’s cabinet approves Gaza City control plan – Major escalation involving relocation of estimated 1 million Palestinians faces global condemnation
Humanitarian crisis worsens in Gaza – Balcony collapse incident during aid distribution highlights desperate conditions
Hostage families oppose Israeli plan – Protesters call new Gaza strategy death sentence for remaining hostages held by Hamas
UN warns of increased devastation – International body condemns plan as likely to increase killing and suffering
Global Economic Updates
Goldman Sachs revises India GDP forecast for 2025-26 amid US tariff impact concerns
Gold futures reach record high following US tariff reports on one-kilogram gold bars
Dollar strengthens against major currencies – Euro, Swiss franc, and Japanese yen decline as US policies impact global markets
Global financial institutions lower India outlook – Economic projections adjusted downward due to trade uncertainty
Sports Updates
Cricket
R Ashwin and Chennai Super Kings may part ways – Speculation ahead of next IPL season within year after homecoming
Virat Kohli takes help from IPL coach for preparation ahead of upcoming series
Mohammed Siraj loses out in Sachin Tendulkar’s series selection – Legendary batsman picks different bowler as series standout
Jamshedpur FC tops Group C in Durand Cup after 2-0 victory against 1 Ladakh FC
International Sports
Pakistan beats West Indies by 5 wickets in 1st ODI of 3-match series at Tarouba
New Zealand dominates Zimbabwe in 2nd Test at Bulawayo, leading by 476 runs after posting 601/3
Cyprus defeats Croatia by 52 runs in 4th T20I at Zagreb, winning series 3-1
Austria beats Sweden by 4 wickets in Viking Cup match at Stockholm
Stock Market Updates
Market Performance August 8, 2025
Sensex closes 765 points lower at 79,857.79 – 0.95% decline amid Trump tariff concerns
Nifty drops 232.85 points to 24,363.30 – Sixth consecutive weekly loss, longest streak since March 2020
Broader indices tank – Nifty Midcap 100 down 1.64%, SmallCap falls 1.49%
All sectors end negative – Realty worst performer down 2.11%, followed by Metal (1.76%), Auto (1.40%)
Stock market closed August 9 – Saturday trading holiday, markets resume Monday
Key Movers
Top gainers – NTPC, Titan, Trent lead recovery in late session
Major laggards – Bharti Airtel, Tata Motors, M&M among worst performers
FII selling continues – Foreign institutional investors remain net sellers adding pressure
Festival and Cultural News
Raksha Bandhan 2025 Celebrations
Festival celebrated on August 9, 2025 – Saturday observance with Bhadra Kaal not affecting celebrations
Auspicious timing – Rakhi tying ceremony from 5:47 AM to 1:24 PM, total 7 hours 37 minutes window
Purnima Tithi period – Begins August 8 at 2:12 PM, ends August 9 at 1:24 PM
Rahukal timing – 9:07 AM to 10:47 AM on August 9, advised to avoid rakhi tying during this period
297-year special conjunction – Unique astrological combination making festival particularly auspicious
Independence Day Preparations 2025
79th Independence Day to be celebrated August 15, 2025, falling on Friday creating long weekend
PM seeks public input for Red Fort speech through MyGov and NaMo App platforms
Virtual events and contests continue for broader participation and inclusivity
Environmental focus – Tree plantation drives and Swachh Bharat campaigns integrated with celebrations
Youth-oriented programs emphasizing Mission LiFE theme for climate action awareness
Regional News
State Developments
Uttarkashi cloudburst operations continue with IAF and Army search for missing persons
Two CRPF jawans injured in IED blast incident in Jharkhand state
Heavy rainfall expected in UP, Bihar, Jharkhand and Northeastern states with very heavy to extremely heavy precipitation forecast
Delhi experiences heavy rain leading to flight delays, waterlogging; IMD warns of continued thunderstorms
Free bus travel announced in UP, Haryana and four other states for sisters on Raksha Bandhan
Infrastructure Projects
Vande Bharat Express flagged off – PM Modi to virtually inaugurate Amritsar-Sri Mata Vaishno Devi Katra route on August 10
Rail coach factory groundbreaking scheduled August 10 in Madhya Pradesh to boost employment and development
Anantnag Railway Station becomes first in Kashmir Valley enabled for goods transport connectivity
Badrinath National Highway reopened – Vehicle movement resumes after clearance of obstruction
Science and Technology
Digital India Updates
BharatGen AI to support all 22 scheduled languages by June 2026 for digital inclusivity advancement
Incredible India Digital Platform launched by Ministry of Tourism for enhanced visitor experience
DPDP Act implementation – Government clarifies no changes to Digital Personal Data Protection Act provisions
Aadhaar face authentication hits record 19.36 crore transactions in July 2025
Space and Research
NASA releases images of interstellar comet racing across solar system
International Space Station disposal planned in ocean following US space agency decision
ISRO developments continue with focus on upcoming missions and satellite launches
Competitive Exam Focus Points
Banking Exam Highlights
RBI repo rate maintained at 5.50% with neutral stance
Banking Laws Amendment Act 2025 key provisions
UPI transaction milestone and digital payment growth
Co-lending norms and financial inclusion measures
Public sector bank policy changes
General Studies Important Points
Election Commission CCTV retention policy controversy
Cabinet decisions on various scheme approvals
International Solar Alliance expansion
Trump administration policy impacts
Independence Day preparation themes
Current GK Updates
Moldova as 107th ISA member
AU Small Finance Bank universal license
Raksha Bandhan 2025 date and timing
Gaza crisis developments
Sports tournament results
