National Affairs
RBI Monetary Policy Decision August 2025
Reserve Bank of India’s Monetary Policy Committee kept repo rate unchanged at 5.50% during August 4-6, 2025 meeting
RBI maintained neutral policy stance, providing flexibility for future rate decisions based on economic data
Central bank revised inflation forecast for FY26 downward to 3.1% from earlier projection of 3.7%
Consumer Price Index inflation dropped to 2.1% in June 2025, lowest since January 2019
GDP growth projection for FY26 retained at 6.5% across all quarters
Cash Reserve Ratio cut from 4% to 3% will begin implementation from September 2025
Banking Laws Amendment Act 2025 Implementation
Key provisions of Banking Laws Amendment Act 2025 came into effect from August 1, 2025
Substantial interest threshold increased from Rs 5 lakh to Rs 2 crore after remaining unchanged since 1968
Director tenure in cooperative banks extended from 8 years to 10 years, aligning with 97th Constitutional Amendment
Public Sector Banks now authorized to transfer unclaimed shares and dividends to Investor Education and Protection Fund
PSBs empowered to fix remuneration for statutory auditors, improving audit quality and independence
Act introduces 19 amendments across five major banking legislations
Prime Minister’s Major Inaugurations
PM Narendra Modi inaugurated Kartavya Bhavan at Kartavya Path, New Delhi on August 6, 2025
Kartavya Bhavan-3 spans 1.5 lakh square meters with state-of-the-art facilities across ground plus six floors
Building houses key ministries including Home Affairs, External Affairs, Rural Development, MSME, and Petroleum
PM announced transformation of historic North and South Blocks into “Yuge Yugeen Bharat Sangrahalaya” museums
PM unveiled development projects worth Rs 2,200 crore in Varanasi including infrastructure and education initiatives
Parliamentary Developments
Rajya Sabha passed Coastal Shipping Bill 2025 amid opposition protests demanding discussion on Bihar electoral rolls
Lok Sabha approved Manipur Appropriation Bill 2025 and Manipur Goods and Services Tax Amendment Bill 2025
Union Minister Amit Shah and Bihar CM Nitish Kumar to inaugurate Goddess Sita temple construction at Punaura Dham
State-Level Initiatives
Kerala launched ‘Heat Resilient Moodadi’ project in Kozhikode district to combat extreme heat waves
Gujarat maintained position as India’s top exporter state with exports worth Rs 9.83 lakh crore in FY25
11th National Handloom Day celebrated on August 7, 2025 at Bharat Mandapam with Sant Kabir Awards
India-Russia Strategic Partnership
India and Russia signed protocol for deepening industrial and technological cooperation during 11th Working Group meeting
Agreement signed by Amardeep Singh Bhatia (India) and Alexey Gruzdev (Russia) at Vanijya Bhawan, New Delhi
Partnership aims to strengthen bilateral trade relations and technology transfer initiatives
International Affairs
US-Russia Diplomatic Developments
Kremlin announced Trump-Putin meeting agreed for “coming days” with venue yet to be determined
Trump administration indicated openness to meeting Putin without requiring prior Zelenskyy meeting
US Special Envoy Steve Witkoff conducted meetings with Russian President Putin in Moscow
US Trade Relations with India
United States imposed additional 25% tariffs on Indian goods, bringing total tariff to 50%
Tariff implementation effective from August 1, 2025, targeting India’s continued Russian oil purchases
Trade action affects Indian exports worth approximately $87 billion across multiple sectors
Move expected to impact India’s GDP growth by 20-40 basis points according to economic projections
Global Infrastructure Projects
Italy approved construction of world’s longest suspension bridge spanning 3.7 kilometers
Bridge will connect Sicily island to mainland Calabria region, marking major engineering achievement
Project represents significant investment in European transportation infrastructure
Historical Commemorations
August 6, 2025 marked 80th anniversary of Hiroshima atomic bombing with international remembrance ceremonies
Nagasaki Day observed on August 9, commemorating second atomic bombing in 1945
Events highlighted ongoing global efforts toward nuclear disarmament and world peace
Regional Developments
Myanmar’s acting President Myint Swe died after prolonged illness, creating political transition challenges
Pakistan Army Chief Asim Munir scheduled for second visit to United States for strategic consultations
French court blocked controversial farming law provision allowing banned pesticide usage
Japan deployed first F-35B stealth fighter jets to strengthen southern defense capabilities
Brazil requested WTO consultations regarding Trump administration’s imposed tariffs
Sports Updates
International Competitions
New Zealand Tall Blacks defeated Philippines 94-86 in basketball Asia Cup held in Jeddah, Saudi Arabia
India’s Annu Rani won gold medal in women’s javelin throw at International Wiesław Maniak Memorial, Poland
Rani achieved season-best throw of 62.59 meters, positioning among world’s top 15 javelin throwers
Harvinder Singh secured gold in men’s recurve at Asian Para-Archery Championships
Cricket Developments
New Zealand maintained strong position against Zimbabwe in second Test match at Bulawayo
Black Caps scored 174/1 in reply to Zimbabwe’s 125, establishing 49-run lead
Matt Henry claimed five-wicket haul in Zimbabwe’s first innings
IBPS Cricket World Cup Challenge League matches scheduled across various venues
Chess Achievements
Chennai’s Velammal Vidyalaya won gold medal at World Schools Team Chess Championship in Virginia, USA
Achievement highlights India’s growing prominence in international chess competitions
ICC named Sanjog Gupta as new Chief Executive Officer
Athletic Performances
Sakshi Chaudhary bagged gold in 54kg category at World Boxing Cup competition
Shubman Gill nominated for ICC Player of the Month award for July alongside international players
Pakistan hockey team confirmed non-participation in Asia Cup scheduled in Rajgir, Bihar
Banking and Finance Updates
Competitive Banking Exams Schedule
IBPS PO Prelims examination dates confirmed: August 17, 23, and 24, 2025
IBPS PO admit cards released by August 7, 2025 for 5,208 Probationary Officer vacancies
SBI PO Prelims conducted on August 4-5, 2025 after August 2 session cancellation
IBPS Clerk registration ongoing with preliminary examination in October 2025
RBI Grade B applications expected to open in September 2025
Market Developments
GIFT Nifty indicated muted opening for Indian equity markets on August 8, 2025
BSE Sensex and NSE Nifty recovered in final trading hour despite tariff-related concerns
Major companies including Titan, LIC, HPCL, and Biocon announced quarterly results
AU Small Finance Bank received RBI approval for universal banking license transition
Financial Institution Updates
IDFC FIRST Bank launched RemitFIRST2India service for NRI money transfers
Amazon India and FIEO signed MoU to boost e-commerce exports for MSMEs
Goldman Sachs revised India’s GDP forecast amid US tariff impact considerations
Government Schemes and Initiatives
ICMR-SHINE Initiative Launch
Indian Council of Medical Research unveiled ICMR-SHINE Initiative on August 8, 2025
National outreach campaign targets students in Classes 9-12 across India
Program supports Prime Minister’s “One Day as a Scientist” vision from Mann ki Baat February 2025
Initiative commemorates birth anniversary of Prof. V. Ramalingaswami, medical research pioneer
Infrastructure Development
Ministry of Textiles organized week-long National Handloom Day celebrations from August 1-8, 2025
“Know Your Weaves” campaign conducted at National Crafts Museum to engage youth
Handloom Hackathon 2025 held at IIT Delhi Research and Innovation Park
Digital Payment Enhancements
New UPI usage limits implemented from August 1, 2025 to improve system performance
Balance checks limited to 50 times daily, account views restricted to 25 times daily
Autopay mandates scheduled during non-peak hours to reduce transaction failures
Peak hours defined as 10 AM-1 PM and 5 PM-9:30 PM for optimal system management
Important Days and Observances
August 2025 Significant Dates
August 6: Hiroshima Day – Commemorating atomic bombing victims and promoting peace
August 7: National Handloom Day – Celebrating India’s handloom heritage and artisans
August 8: Quit India Movement Day – Remembering Gandhi’s call for British withdrawal in 1942
August 9: Nagasaki Day – Remembering second atomic bombing and advocating nuclear disarmament
August 9: International Day of World’s Indigenous Peoples – Recognizing indigenous rights globally
August 9: Raksha Bandhan – Hindu festival celebrating sibling bonds and protection
Cultural and Social Observances
World Lung Cancer Day observed on August 1 promoting awareness and early detection
International Youth Day celebrated on August 12 emphasizing youth development worldwide
World Photography Day marked on August 19 celebrating photographic arts and technology
Women’s Equality Day observed on August 26 commemorating women’s suffrage achievements
Economic Indicators
Growth Projections and Performance
India’s GDP growth maintained at 6.5% for FY26 according to RBI projections
Consumer Price Index inflation reached 77-month low of 2.1% in June 2025
Food inflation entered negative territory at -1.06% for first time since February 2019
Rural inflation declined to 1.72%, representing 394 basis points year-over-year reduction
Trade and Export Statistics
India’s exports reached $210.31 billion in Q1 FY26, registering 5.94% year-over-year growth
Services exports demonstrated double-digit growth contributing to trade balance improvement
Gujarat state maintained export leadership with 26.6% share of total national exports
Trade deficit managed at $20.31 billion despite global economic uncertainties
Manufacturing and Production
Rice output achieved 1,490.74 lakh metric tonnes strengthening food security measures
Wheat production reached 1,175.07 lakh metric tonnes showing 42.15% year-over-year increase
76.6% rural households reported increased consumption indicating economic recovery
Make in India initiative supporting export competitiveness particularly in electronics sector
Note: This comprehensive current affairs compilation covers major developments across national and international affairs, banking sector updates, sports achievements, and important observances relevant for competitive examination preparation. Regular updates ensure aspirants stay informed about crucial developments affecting various government job examinations including UPSC, Banking, SSC, Railways, and State PSC tests.
