National News
ISRO Achievements and Space Mission Updates
ISRO successfully conducted first Integrated Air Drop Test (IADT-01) for Gaganyaan mission parachute system demonstration
Test involved coordination between ISRO, Indian Air Force, DRDO, Indian Navy, and Indian Coast Guard
Gaganyaan uncrewed test mission planned for December 2025 with humanoid robot Vyommitra
First crewed spaceflight expected in 2028, making India fourth country to independently send humans to space
Mission will carry three-member crew to 400 km low Earth orbit for three days
Defense and Security Developments
India successfully tested Integrated Air Defence Weapon System (IADWS) off Odisha coast
Defense Minister Rajnath Singh congratulated DRDO and armed forces for successful flight tests
Former CRPF Chief Anish Dayal Singh appointed as new Deputy National Security Adviser
Political and Administrative Updates
Election Commission received documents from 98.2% electors in Bihar draft rolls during Special Intensive Revision
CBI conducted raids at Anil Ambani’s Mumbai residence in connection with alleged bank loan fraud case
TMC and Samajwadi Party refused to join Joint Parliamentary Committee examining ‘criminal netas’ bill
Bill seeks dismissal of chief ministers or ministers under arrest for 30 days
Economic and Banking Sector News
RBI maintained repo rate at 5.5% during August 2025 Monetary Policy Committee meeting
Monetary policy stance remains ‘Neutral’ indicating readiness to move in either direction
Standard Deposit Facility rate maintained at 5.25%, Marginal Standing Facility at 5.75%
RBI reduced inflation forecast for FY26 to 3.1% from 3.7%
GDP growth projection for FY26 maintained at 6.5%
Corporate and Market Updates
India’s foreign exchange reserves rose by $1.488 billion to $695.106 billion for week ending August 15
NSE Nifty 50 ended 213.65 points lower at 24,870.10 on Friday
BSE Sensex closed 693.86 points down at 81,306.85
FPIs sold stocks worth Rs 1,623 crore, DIIs turned net sellers worth Rs 329.25 crore
Infrastructure and Development
56th GST Council meeting scheduled for September 3-4, 2025 in New Delhi
Officers meeting planned for September 2 ahead of council deliberations
Expected discussions on GST rate rationalization shifting items from 12% and 28% slabs to 5% or 18%
Proposal for introducing 40% GST slab for sin goods under consideration
International News
Middle East Developments
Iran’s Supreme Leader Khamenei stated relations with US are ‘unsolvable’
Iranian leader claimed Iran will never bow to pressure to obey Washington
Comments made amid standoff with Western powers over nuclear program
Iran suspended cooperation with International Atomic Energy Agency
Europe and UK Updates
15-year-old boy and 54-year-old man arrested over arson attack on Indian restaurant in London
Five people hospitalized with serious injuries from Indian Aroma restaurant fire
CCTV footage showed masked attackers pouring liquid before restaurant caught flames
Two patients remain in life-threatening condition
Asia-Pacific Region
South Korea expressed hope to normalize relations with China during high-level delegation visit
North Korea test-fired two new air defense missiles under Kim Jong Un’s oversight
Ukrainian drone attacks caused fire at Russia’s Kursk nuclear power plant
Russia announced capture of two more villages in Ukraine’s Donetsk region
Diplomatic Relations
India’s envoy to Russia stated companies will continue buying oil from best price sources
JD Vance claimed US tariffs on India meant to force Russia to stop Ukraine war
Pakistan and Bangladesh signed visa exemption agreement for diplomatic passport holders
Sports News
Cricket Updates
Cheteshwar Pujara announced retirement from all forms of Indian cricket at age 37
Pujara scored 7,195 runs in 103 Tests with 19 centuries and 35 half-centuries
Decision made after considering opportunities for young players in domestic cricket
Sanju Samson scored blazing 42-ball century in Kerala Cricket League ahead of Asia Cup
Samson’s 121 off 51 balls included 14 fours and 7 sixes
International Sports
Cristiano Ronaldo achieved 100 goals milestone for four different clubs
Al-Nassr lost Saudi Super Cup despite Ronaldo’s historic achievement
Maria Sharapova and Bryan Brothers entered tennis hall of fame
Sourav Ganguly appointed head coach of Pretoria Capitals for SA20 tournament
Commonwealth Championships
Mirabai Chanu returned to action for Commonwealth Championships
Indian lifters eye rich medal haul in upcoming competitions
Expected strong performance from Indian contingent
Banking and Financial Services
Upcoming Bank Examinations
SBI Clerk application deadline August 26, 2025
IBPS Clerk exam scheduled October 4, 2025 with application deadline August 28
RRB Officer Scale-I applications close August 30, 2025
Bank of Maharashtra Generalist Officer applications deadline August 30
Banking Policy Updates
JAIIB Exam scheduled November 2-16, 2025
CAIIB Exam conducted June 1-29, 2025
Various regional bank recruitments ongoing across multiple states
Focus on digital banking initiatives and customer service improvements
Education and Examination Updates
Academic Developments
GATE 2026 registration date revised to begin August 28
ICSI CS Executive and Final June exam results announced August 25
UGC prohibited psychology, nutrition, healthcare courses in distance learning mode
IIT Bombay students mapped Moon’s surface chemistry using Chandrayaan-2 data
Competitive Exam Preparations
Enhanced focus on current affairs for banking examinations
Regular updates essential for IBPS, SBI, RBI exam preparations
Static GK integration with current events important for comprehensive preparation
Daily practice of MCQs recommended for effective exam strategy
Technology and Innovation
Space Technology
ISRO’s successful parachute system testing marks crucial Gaganyaan milestone
Advanced parachute deployment system ensures astronaut safety during re-entry
Multiple parachute stages include drogue chutes and main parachutes
Technology demonstration builds confidence in overall mission safety design
Digital Infrastructure
PM Gati Shakti portal to provide enhanced data access for private sector project planning
National Geospatial Mission launch for foundational geospatial data development
Focus on urban planning modernization and infrastructure project design
Digital initiatives supporting ease of doing business
Environmental and Agricultural Updates
Weather and Climate
Flood-like situation reported in parts of Odisha due to rising river water levels
Over 150 deaths reported in Himachal Pradesh floods since June
600 houses damaged in monsoon-related incidents
Southwest monsoon performance crucial for agricultural productivity
Agricultural Initiatives
Kisan Credit Card facilitating loans for 7.7 crore beneficiaries
Loan limit under Modified Interest Subvention Scheme increased from Rs 3 lakh to Rs 5 lakh
Focus on supporting farmers, fishermen, and dairy farmers
Agricultural sector showing resilience amid economic challenges
Key Takeaways for Competitive Exams
Important Appointments
Anish Dayal Singh – Deputy National Security Adviser
Various banking sector appointments across public sector banks
Leadership changes in major corporations and government institutions
Significant Numbers to Remember
Repo rate: 5.5%
Foreign exchange reserves: $695.106 billion
Inflation forecast FY26: 3.1%
GDP growth projection FY26: 6.5%
Upcoming Important Dates
August 26: SBI Clerk application deadline
August 28: IBPS Clerk application deadline, GATE 2026 registration begins
September 3-4: 56th GST Council meeting
December 2025: Gaganyaan uncrewed test mission
Static GK Connections
ISRO headquarters: Bengaluru
RBI Governor: Sanjay Malhotra
Current CPI inflation target: 4% (±2%)
India’s rank in space missions: 4th country for independent human spaceflight
This comprehensive current affairs update covers all major developments relevant for banking and competitive examinations, providing candidates with essential information for their preparation strategy.
