National News Updates
Banking and Financial Sector Developments
New Banking Laws Amendment Act 2025 Implementation: Major banking reforms came into effect from August 1, 2025, introducing 19 amendments across five key legislations including RBI Act 1934, Banking Regulation Act 1949, and others to strengthen governance and protect depositors
RBI Monetary Policy Committee Meeting Results: The Reserve Bank maintained repo rate at 5.5% during August 4-6 MPC meeting under Governor Sanjay Malhotra’s chairmanship, with CPI inflation hitting 77-month low of 2.1% in June 2025
UPI Transaction Rules Modified: National Payments Corporation of India introduced new usage limits effective August 1, 2025 – balance checks limited to 50 times daily, account view restricted to 25 times daily, with peak hours designated as 10 AM-1 PM and 5 PM-9:30 PM
ICICI Bank Increases Minimum Balance: Private lender raised minimum balance requirement for new savings accounts to Rs 50,000 in metro and urban areas from August 1, 2025, drawing significant social media criticism
Cash Reserve Ratio Cut Scheduled: RBI confirmed CRR reduction from 4% to 3% of NDTL in four phases of 25 basis points each, beginning September 6, 2025, to maintain banking sector liquidity
Government Policy and Administrative Updates
Income Tax Bill 2025 Withdrawal: Central government withdrew the Income Tax Bill 2025 on August 8 to incorporate committee recommendations and feedback, with revised version scheduled for reintroduction on August 11, 2025
PM Viksit Bharat Rozgar Yojana: Union Cabinet approved Rs 99,446 crore Employment Linked Incentive scheme targeting creation of over 3.5 crore formal jobs within two years, launching August 1, 2025
FASTag Annual Pass Launch: Ministry of Road Transport introduced Rs 3,000 FASTag Annual Pass for private vehicles on August 15, 2025, valid for one year or 200 trips across National Highways
Sudarshan Chakra Mission Announced: Prime Minister Modi launched comprehensive defense mission to expand and modernize national security shield by 2035, focusing on indigenous research and development
GST Rate Rationalization Plans: Finance Ministry proposed eliminating 12% and 28% tax slabs, retaining only 5% and 18% rates, with Group of Ministers meeting scheduled for August 20-21, 2025
Weather and Emergency Updates
Mumbai Schools Closed Due to Heavy Rain: Brihanmumbai Municipal Corporation declared holiday for schools and colleges on August 19 following IMD red alert for extremely heavy rainfall and waterlogging concerns
Kishtwar Cloudburst Tragedy: Over 60 people died in devastating cloudburst in Jammu & Kashmir’s Kishtwar region, affecting Machail Mata Yatra base camp with rescue operations underway
Multi-State Rainfall Warnings: India Meteorological Department issued heavy to extremely heavy rain alerts across Maharashtra, Telangana, Odisha, Karnataka, Andhra Pradesh, Chhattisgarh, and Goa
School Holidays Declared: Educational institutions in Kodagu district Karnataka, parts of Kerala’s Thrissur district, and several other regions declared closures on August 18-19 due to severe weather conditions
Political and Administrative Developments
Opposition Impeachment Notice Plans: INDIA Bloc leaders considering impeachment motion against Chief Election Commissioner Gyanesh Kumar amid vote theft allegations controversy
Election Commission Ultimatum to Rahul Gandhi: Seven-day deadline issued demanding sworn affidavit with proof of vote theft allegations or public apology
Chinese Foreign Minister Wang Yi Visit: Arrived in India for crucial border talks with National Security Advisor Ajit Doval aimed at resuming dialogue on boundary issues
NDA Vice-Presidential Candidate: BJP officially named Maharashtra Governor CP Radhakrishnan as National Democratic Alliance candidate for Vice-President election
International News Highlights
Global Diplomatic Developments
Trump-Putin Alaska Summit: US President Donald Trump and Russian President Vladimir Putin held unsuccessful 3-hour meeting in Alaska regarding Ukraine war ceasefire, though Trump described talks as positive
Trump-Zelensky Washington Meeting: Ukrainian President Volodymyr Zelensky met US President Trump at White House, with discussions focusing on security guarantees and potential Putin meeting arrangements
German Chancellor Mediation Efforts: Friedrich Merz announced Putin and Zelensky expected to meet within next two weeks, crediting Trump’s persuasion efforts
Hamas Ceasefire Agreement: Palestinian militants reportedly agreed to new Gaza ceasefire proposal after more than 22 months of conflict with Israel
Iran-Israel Tensions: Senior Iranian official warned that war with Israel could erupt any moment, describing current lull as temporary halt following June’s 12-day conflict
Regional Security Updates
North Korea Nuclear Expansion: Kim Jong Un called for rapid expansion of nuclear weapons capability, citing ongoing US-South Korea military exercises as potential war triggers
Congo Security Crisis: Islamic State-backed rebels killed at least 52 civilians using machetes in eastern Democratic Republic of Congo’s Beni and Lubero areas
Pakistan Flood Crisis: Over 300 people died in flash floods in northwest Pakistan, with rescue operations resuming after weather-related delays
Air Canada Strike: Canada Industrial Relations Board declared strike by 10,000 flight attendants illegal, ordering return to work and arbitration
Economic and Trade Matters
US-India Trade Talks Postponed: American trade team’s August 25 visit to India cancelled without new dates fixed amid ongoing tariff discussions over Russian oil purchases
Pakistan Rare Earth Treasures: Army Chief highlighted country’s rare earth mineral potential as solution to economic crisis recovery
Google Australia Fine: Technology giant agreed to pay USD 36 million penalty for anticompetitive deals with Australia’s largest telecommunications companies
UK Hong Kong Asylum: Activist Tony Chung granted asylum in United Kingdom after fleeing Hong Kong’s national security crackdown
Sports and Entertainment Updates
Cricket Developments
India Asia Cup 2025 Squad: Selectors face challenging decisions for 15-member team announcement scheduled August 19, with Shubman Gill’s inclusion creating selection dilemmas
Suryakumar Yadav Leadership: Expected to captain India’s T20I squad after successful record of winning 17 out of last 20 matches under his leadership
Fast Bowling Selections: Hardik Pandya, Jasprit Bumrah, and Arshdeep Singh confirmed as certainties, with Harshit Rana frontrunner for fourth seamer position
Spin Department Competition: Intense competition between Kuldeep Yadav, Varun Chakravarthy, and Ravi Bishnoi for spinning positions, with Yuzvendra Chahal on selection fringes
Kedar Jadhav Controversy: Former cricketer stirred debate claiming India vs Pakistan Asia Cup 2025 match will not take place, creating selection uncertainty
International Sports News
Neeraj Chopra Diamond League: Indian javelin thrower qualified for 2025 Diamond League final in Zurich, maintaining strong form ahead of major competitions
Marc Marquez MotoGP Victory: Six-time champion won Austrian Grand Prix for first time, extending championship lead by 142 points over brother Alex Marquez
World Humanoid Robot Games: Over 500 robots from 280 teams across 16 countries competing in 26 events in China, marking first-ever humanoid robot championship
Archery Premier League: Top Indian archers including Olympians Deepika Kumari and B. Dhiraj selected for inaugural tournament at Delhi’s Yamuna Sports Complex in October
Achievement Recognition
iPhone 17 Production: Foxconn’s Bengaluru unit began manufacturing latest iPhone model, marking significant milestone in India’s global technology manufacturing capabilities
Operation Sindoor Celebration: Independence Day ceremonies highlighted successful precision missile operation against terror infrastructure in Pakistan and Pakistan-Occupied Kashmir
Defense and Security Updates
Military Appointments and Operations
Lt. General Pushpendra Singh: Appointed as new Vice Chief of Army Staff in August 2025, replacing Lieutenant General NS Raja Subramani
SLINEX 2025 Exercise: Indian naval ships Rana and Jyoti arrived in Colombo for 12th edition of bilateral Sri Lanka-India Naval Exercise running August 14-18
INS Ikshak Delivery: Third Survey Vessel delivered to Indian Navy by Garden Reach Shipbuilders & Engineers on August 14, 2025
Services Selection Board Guwahati: Ministry of Defence actively considering Assam government proposal to establish SSB Centre in Guwahati for Northeast candidates
Defense Technology Developments
Integrated Rocket Force Debate: Operation Sindoor success catalyzed discussions about creating centralized missile command following Pakistan’s Army Rocket Force Command establishment
Indigenous Defense Manufacturing: PM Modi announced Made-in-India chips expected to reach market by year-end, strengthening domestic semiconductor capabilities
Sudarshan Chakra Mission: Comprehensive national security initiative launched to identify and induct future weapons systems over next decade through 2035
DRDO Advanced Projects: Multiple defense research projects underway including Quantum Sensing for submarine detection, SMART missile trials, and Akash-NG SAM user trials
Honours and Awards
Independence Day 2025 Recognition
Military Gallantry Awards: President approved 127 Gallantry Awards and 40 Distinguished Service Awards for Armed Forces and Central Armed Police Forces personnel
Kirti Chakra Recipients: Four personnel received second-highest peacetime gallantry award for exceptional bravery and dedication to national service
Vir Chakra Honors: Fifteen military personnel awarded third-highest wartime gallantry decoration for acts of bravery during combat operations
Mention-in-Despatches: Total 290 personnel recognized including 115 Indian Army, 5 Navy, 167 Air Force, and 3 Border Roads Development Board members
Special Recognition Programs
Women and Child Development Workers: 171 special guests including Anganwadi workers and supervisors honored at Red Fort Independence Day ceremony
Operation Sindoor Veterans: Military personnel involved in precision strike operation received special recognition during Independence Day awards ceremony
Academic Excellence Awards: Multiple educational institutions and researchers received national recognition for outstanding contributions to science and technology
Cultural Heritage Recognition: Traditional artisans and cultural practitioners honored for preserving India’s rich artistic and cultural heritage
Economic and Market Updates
Stock Market Performance
Sensex and Nifty Gains: Benchmark indices rose significantly on August 18 with Sensex up 676 points to 81,273.75 and Nifty gaining 251 points to 24,882.50
Auto Sector Leadership: Maruti Suzuki, Hero MotoCorp, and Bajaj Auto emerged as top gainers following positive sentiment and S&P sovereign rating upgrade hopes
Foreign Investment Flows: FPIs purchased stocks worth approximately Rs 551 crore while DIIs continued buying streak for 30th consecutive session with Rs 4,104 crore investment
GST Rationalization Impact: Market experts highlighted potential positive impact of proposed GST rate simplification on various sectors and corporate profitability
Business Development Initiatives
Semiconductor Mission Progress: PM Modi announced significant progress in semiconductor manufacturing with Made-in-India chips expected by year-end 2025
Automotive Mission Plan 2047: Government unveiled comprehensive roadmap with milestone targets for 2030, 2037, and 2047 to create future-ready automotive ecosystem
Green Hydrogen Plant: India’s first 1 MW Make-in-India Green Hydrogen Plant inaugurated at Deendayal Port Kandla, marking renewable energy milestone
Digital Infrastructure Growth: Multiple e-governance initiatives and digital payment systems received national recognition for improving citizen services and financial inclusion
Educational and Cultural Updates
Academic Developments
IIM Guwahati Bill: Lok Sabha consideration of bill seeking national importance status under IIM Act, bringing northeastern region closer to premier management education
IGNOU Female Vice-Chancellor: Professor Uma Kanjilal appointed as female Vice-Chancellor of Indira Gandhi National Open University in July 2025
School Safety Measures: Multiple educational institutions across various states implemented enhanced safety protocols amid weather emergencies and security concerns
Competitive Exam Preparations: Intensified demands for Bihar STET before teacher recruitment examination with aspirants organizing protests in Patna
Cultural and Heritage Initiatives
Cambridge Dictionary Updates: Addition of social media terms including ‘skibidi,’ ‘tradwife,’ and ‘delulu’ reflecting contemporary language evolution
Traditional Art Recognition: Kerala cultural practitioners received various awards including Kathakali, Vadya Puraskaram, and Nritta-Natya Puraskaram for artistic excellence
Heritage Preservation Programs: Multiple initiatives launched to preserve and promote India’s rich cultural heritage through digital documentation and community engagement
Language Development: Various regional language literature awards announced recognizing outstanding contributions to Hindi, Bengali, Tamil, Telugu, and other Indian languages
Technology and Innovation Updates
Digital Infrastructure Advancement
Kavach 4.0 Implementation: India’s indigenous train safety system commissioned on strategic Mathura-Kota rail section enhancing railway safety standards
Quantum Technology Development: DRDO announced plans for quantum sensing technology for submarine detection as part of advanced defense capabilities
Artificial Intelligence Integration: Multiple government departments implementing AI-driven solutions for improved citizen services and administrative efficiency
Cybersecurity Enhancements: Defense Ministry projects including Quantum Safe VPN and Railway Cybersecurity systems received national recognition for innovation
Research and Development Progress
Space Technology Achievements: Astronaut Shubhanshu Shukla met PM Modi after historic International Space Station mission, presenting official Axiom-4 mission patch
Agricultural Innovation: ICAR scientists received Krishi Vigyan Puraskar for outstanding contributions to agricultural research and farmer welfare initiatives
Medical Research Advancement: Multiple pharmaceutical and biotechnology companies announced breakthrough research projects and clinical trial progress
Environmental Technology: Clean technology initiatives including waste management systems and renewable energy projects gained national and international recognition
This comprehensive current affairs update covers major developments across all sectors relevant for competitive examinations including banking, SSC, UPSC, and other government job preparations. Stay updated with daily news for better exam performance and general knowledge enhancement.
