August 2026 Current Affairs for Government Banking, SSC, Railways, Law Entrance, UPSC, MPSC & Other relevant Exams

August 2026 Current Affairs for Government Banking, SSC, Railways, Law Entrance, UPSC, MPSC & Other relevant Exams

1. Banking and financial awareness

RBI Monetary Policy – August 2026

MPC meeting: 3–5 August 2026

• The meeting was the 62nd meeting of the Monetary Policy Committee.

• RBI Governor: Sanjay Malhotra.

• The MPC retained the repo rate at 5.25%.

• Inflationary pressures from food and fuel supply were among the concerns.

• The RBI highlighted uncertainties surrounding the monsoon, El Niño, geopolitical developments and global trade policies.

2. National current affairs and government schemes

A. Major government initiatives

1. GOBARdhan – National Circular Bioenergy Scheme

• Approved by Union Cabinet on 6 August 2026.

• Total financial outlay: ₹23,731 crore.

• Objective: convert agricultural residue, cattle dung, press mud and municipal organic waste into compressed biogas and organic manure.

• Focus: clean energy, rural entrepreneurship, waste management and energy security.

• Important concept: Waste-to-Wealth.

2. Revamped Khelo India Scheme

• Approved on 1 August 2026.

• Combined outlay for the revamped Khelo India Scheme and enhanced Assistance to National Sports Federations: ₹36,441 crore.

• Implementation period: 2026–27 to 2030–31.

• Objective: grassroots sports development, talent identification and improved sports infrastructure.

3. CBDC-based Direct Benefit Transfer

• Announced for Chandigarh and Dadra & Nagar Haveli.

• Launch date: 14 August 2026.

• Linked to Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY).

• Uses Central Bank Digital Currency for welfare-benefit delivery.

Remember: CBDC is digital currency issued by a central bank. India’s digital rupee is issued by the RBI.

4. PM Surya Ghar: Muft Bijli Yojana

• On 4 August 2026, the scheme crossed 50 lakh rooftop solar installations.

• Ministry: Ministry of New and Renewable Energy.

• Objective: promote rooftop solar installations in residential households and reduce electricity expenditure.

5. India’s non-fossil power capacity

• India achieved a milestone of 300 GW non-fossil fuel power capacity on 9 August 2026.

• Relevant areas: renewable energy, solar power, wind power and clean-energy transition.

B. Important Parliament and legislative developments

The Monsoon Session of Parliament was held from 20 July to 13 August 2026.

• 12 Bills were introduced.

• 11 Bills were passed.

• Lok Sabha functioned for 15% of its scheduled time.

• Rajya Sabha functioned for 33% of its scheduled time.

Important legal concepts for law entrance examinations

1. Bankers’ Books Evidence: Understand the admissibility of electronic banking records and the conditions for compelling production of banking records.

2. Tribunals: Understand the difference between judicial courts and specialised quasi-judicial bodies.

3. MSME mediation: The amendment provides for completion of mediation within 90 days from the date fixed for first appearance.

4. TReDS: Trade Receivables Discounting System is an RBI-regulated electronic platform that helps MSMEs obtain finance against receivables.

5. MMDR Act: Mines and Minerals (Development and Regulation) Act, 1957.

6. ADR: Alternative Dispute Resolution includes arbitration, mediation and conciliation.

C. Economy and national development

3. International affairs

BRICS 2026

India’s BRICS chairship featured several ministerial meetings in August.

Other important outcomes:

• BRICS members advanced the Strategy for BRICS Economic Partnership 2030.

• Discussions covered trade finance, MSME internationalisation and global value chains.

• A BRICS action plan for global value chains for 2026–2030 was advanced.

• Cooperation in digitally delivered services was also addressed.

10th BRICS Industry Ministers’ Meeting

• Held in Jaipur.

• Focused on MSMEs, photovoltaic industries, startups and logistics.

• India proposed a BRICS Incubator Network and BRICS Startup Innovation Fund.

Exam facts to remember

• BRICS originally consisted of Brazil, Russia, India and China, with South Africa joining in 2010.

• The grouping subsequently expanded.

• Its New Development Bank is headquartered in Shanghai, China.

• BRICS is a forum for economic, political and development cooperation.

Shanghai Cooperation Organisation (SCO)

SCO headquarters: Beijing, China.

SCO Secretariat: Beijing, China.

SCO Regional Anti-Terrorist Structure (RATS): Tashkent, Uzbekistan.

Exam focus: Headquarters, founding year (2001), member countries and the organisation’s regional security role.

4. Science and technology – Space and defence

ISRO developments

Third National Space Day 2026

• Celebrated on 24 August 2026.

• Venue: Ahmedabad.

• National Space Day in India commemorates Chandrayaan-3’s successful landing near the lunar south pole on 23 August 2023.

• The Vikram lander and Pragyan rover are associated with Chandrayaan-3.

Defence

Sixth Positive Indigenisation List

• Ministry: Ministry of Defence.

• Number of items: 405.

• Estimated business potential: ₹3,070 crore.

• Includes 16 Indian Coast Guard items and 389 Defence Public Sector Undertaking items.

• Objective: reduce dependence on imports and strengthen domestic defence manufacturing.

5. Maharashtra current affairs – MPSC special

Important Maharashtra government initiatives

The following state-level developments are useful for understanding Maharashtra’s policy priorities:

MPSC exam focus:

• Nagpur – proposed High Energy Medical Cyclotron.

• Maharashtra Unmanned Systems Policy – drones and robotics.

• Mahanet – broadband and digital connectivity.

• Rural Drinking Water Policy – rural water security.

• Maharashtra Employment Guarantee Act, 1977 – state-level employment guarantee legislation.

Maharashtra infrastructure and agriculture

Important state-specific topics to revise alongside the above developments:

1. Mumbai Coastal Road and sea-link projects.

2. Maharashtra’s irrigation and water conservation initiatives.

3. PM Fasal Bima Yojana implementation in Maharashtra.

4. Maharashtra’s renewable energy and electric mobility policies.

5. Digital connectivity and rural infrastructure.

For MPSC, give special attention to the department responsible for each scheme, its implementing agency, geographical location and financial allocation.

6. Awards and honours

Some August 2026 award announcements reported in monthly compilations include:

Important background for examinations

• COSPAR: Committee on Space Research.

• Ramon Magsaysay Award: Named after a former President of the Philippines.

• Lokmanya Tilak National Award: Associated with the legacy of Bal Gangadhar Tilak.

• National Anubhav Awards: Recognise contributions and experiences of retiring or retired government employees.

Treat the recipient list as a revision lead and verify it against the awarding organisations before memorising it.

7. Important days in August 2026

Important facts:

• National Handloom Day commemorates the Swadeshi Movement, launched on 7 August 1905.

• International Youth Day is observed on 12 August.

• India’s Independence Day in 2026 marked the 80th anniversary of independence.

• National Sports Day commemorates the birth anniversary of Major Dhyan Chand.

• National Space Day commemorates the Chandrayaan-3 landing achievement.

8. Important reports, institutions and organisations

10. Practice MCQs – August 2026

Test your preparation with these exam-oriented questions.