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India & World Current Affairs

3 August 2026

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India Economy

Cabinet Approves Expansion of National Mission on Edible Oils to Boost Domestic Production in North-East

The Union Cabinet has sanctioned an expanded financial package under the National Mission on Edible Oils - Oil Palm (NMEO-OP) to expand oil palm cultivation across North-Eastern states.

Ministry of Environment Notifies Eco-Sensitive Zones Around Nine Western Ghats Sanctuaries

The Ministry of Environment, Forest and Climate Change has published final notifications designating Eco-Sensitive Zones (ESZs) around nine wildlife sanctuaries across the Western Ghats region.

ISRO Unveils Operational Roadmap and Maiden Test Schedule for Next-Generation Launch Vehicle Soorya

The Indian Space Research Organisation (ISRO) has released the operational roadmap for the Next-Generation Launch Vehicle (NGLV) named Soorya, targeting its maiden orbital test flight.

SEBI Introduces Mandatory ESG Assurance and BRSR Framework for Top 1,000 Listed Companies

The Securities and Exchange Board of India (SEBI) has notified mandatory Business Responsibility and Sustainability Reporting (BRSR Core) assurance for top 1,000 listed entities from FY 2026-27.

India’s Foreign Exchange Reserves Rise to $676.2 Billion Led by Foreign Currency Assets Expansion

India's foreign exchange reserves increased by $2.4 billion to reach a high of $676.2 billion for the week ended July 17, 2026, driven by foreign currency asset gains and RBI market operations.

India and Israel Conclude Second Round of Comprehensive Free Trade Agreement Talks

India and Israel concluded the 2nd round of Free Trade Agreement (FTA) negotiations in New Delhi on July 24, 2026, making progress in tariff reductions, high-tech trade, and cybersecurity services.

Bangladesh President Mohammed Shahabuddin Resigns Citing Severe Health Complications

President of Bangladesh Mohammed Shahabuddin has tendered his resignation on July 24, 2026, citing acute health complications, triggering constitutional succession protocols in Dhaka.

Union Education Minister Dharmendra Pradhan Resigns Citing Moral Responsibility for National Exam Reforms

Union Minister of Education Dharmendra Pradhan has tendered his resignation on July 25, 2026, taking moral responsibility for ongoing structural overhauls in national entrance examinations and public recruitment bodies.

Ministry of Commerce Launches Trade Connect e-Marketplace to Boost MSME Exporters

The Directorate General of Foreign Trade (DGFT) has launched the Trade Connect e-Marketplace portal to connect over 500,000 Indian MSMEs directly with global buyers and trade promotion councils.

Supreme Court Mandates Gram Sabha Consent for Mining Leases in Fifth Schedule Areas

The Supreme Court of India ruled on July 24, 2026, that prior informed consent of the Gram Sabha is mandatory for granting or renewing mineral mining leases in Fifth Schedule tribal areas.

India Hosts 4th BIMSTEC Agriculture Ministers Meeting to Promote Digital Farming Technologies

India hosted the 4th BIMSTEC Agriculture Ministers Meeting in New Delhi on July 24, 2026, agreeing on a multi-year regional Action Plan for agricultural cooperation and digital technology adoption.

Union Cabinet Approves Phase-II Operational Framework for National Quantum Mission

The Union Cabinet has approved the Phase-II operational roadmap of the National Quantum Mission (NQM), sanctioning ₹6,003 crore for setting up four Thematic Hubs (T-Hubs) in quantum computing and communications.

GTRE and Azad Engineering Develop India's First Indigenous 350 kg Expendable Turbojet Engine

DRDO's Gas Turbine Research Establishment and Azad Engineering have successfully developed India's first 350 kg thrust class expendable turbojet engine for cruise missiles and UAVs.

Government of India Announces ₹20,000 Crore Buyback of Dated Securities via RBI

The Central Government will buy back four dated securities worth ₹20,000 crore on July 28, 2026, utilizing surplus cash balances to manage debt maturity profiles through RBI e-Kuber.

Delhi High Court Designates Special Fast-Track Courts for Exam Paper Leak Offenses

The High Court of Delhi has ordered the establishment of designated fast-track courts to try offenses under the Public Examinations (Prevention of Unfair Means) Act, 2024.

RBI Invites Stakeholder Comments on Proposed Foreign Investment Rules 2026

The Reserve Bank of India has published draft Foreign Exchange Management (Foreign Investment) Rules, 2026, aiming to streamline FDI norms, replace 2019 NDI rules, and simplify reporting.

India and Spain Advance Interoperability Project Between UPI and Bizum Payment Systems

NPCI International Payments Limited (NIPL) and Spain's payment network Bizum are developing direct cross-border payment interoperability between India's UPI and Spain's Bizum platform.

Directorate General of Maritime Administration Advises Indian Seafarers to Avoid Transit via Strait of Hormuz

The Directorate General of Shipping has issued a security advisory directing ship-owners and recruitment agencies to refrain from deploying Indian seafarers on merchant vessels transiting the Strait of Hormuz.

President Murmu Visits Moldova in Landmark Diplomatic Event Focusing on Digital Infrastructure and UNSC Reforms

President Droupadi Murmu paid a historic state visit to Moldova on July 21, 2026, marking the first visit by an Indian head of state to Chișinău to expand $50 million bilateral trade, digital public infrastructure, and UNSC reform cooperation.

Supreme Court Restores Kerala Waqf Board Autonomy, Restricting State Executive Supervision

The Supreme Court of India ruled on July 21, 2026, to restrain executive interference in the Kerala State Waqf Board, ruling that state administration cannot bypass statutory autonomous bodies.

India Commissions First and Deepest Geothermal Energy Wells in Puga Valley, Ladakh

Oil and Natural Gas Corporation (ONGC) has successfully drilled and commissioned India's first and deepest geothermal energy wells in Puga Valley, Ladakh, at an altitude of 14,000 feet.

NITI Aayog Unveils Strategy Roadmap for Building India as a Leading Bioeconomy Powerhouse

NITI Aayog has launched the strategic blueprint for building India into a global bioeconomy leader, targeting a $300 billion bioeconomy valuation through biomanufacturing and synthetic biology.

India Approves Dengue Vaccine QDENGA Without Pre-Vaccination Screening Requirement

The Central Drugs Standard Control Organisation (CDSCO) has approved Takeda's live-attenuated dengue vaccine QDENGA for individuals aged 4 to 60 without requiring prior serological testing.

RBI Proposes Draft Rules to Overhaul Foreign Investment and FEMA Regulations

The Reserve Bank of India has released the draft Foreign Exchange Management (Foreign Investment) Rules, 2026, to replace the 2019 NDI framework and streamline FDI compliance.

RBI Sets July 22, 2026, Sovereign Gold Bond Redemption Price at ₹14,218

The Reserve Bank of India has fixed the premature redemption price for the SGB 2018-19 Series V tranche at ₹14,218 per unit, based on average gold closing prices compiled by IBJA.

Government to Auction ₹28,000 Crore in Dated Securities on July 24

The Government of India has announced the sale of two dated securities totaling ₹28,000 crore on July 24, 2026. The auction features a new 15-year GS and a re-issue of the 7.43% 50-year GS through RBI e-Kuber.

Indian Students Clinch Four Medals at 37th International Biology Olympiad in Lithuania

Prime Minister Narendra Modi congratulated India's student contingent for securing one gold and three silver medals at the 37th International Biology Olympiad in Lithuania.

India Maharashtra

Maharashtra forms committee to review ST benefits following Navapur conversion allegations

The Maharashtra government has established an inquiry committee to investigate allegations of induced conversions in Navapur taluka and review if converted individuals should continue to receive Scheduled Tribe benefits.

RBI Sets Sovereign Gold Bond Redemption Price at ₹14,158 Per Unit

The Reserve Bank of India has fixed the premature redemption price for two Sovereign Gold Bond tranches at ₹14,158 per unit, based on average gold prices preceding the exit windows.

World United Kingdom

Andy Burnham Becomes UK Prime Minister, Pledging to 'Rewire' Britain

Former Manchester Mayor Andy Burnham has taken office as UK Prime Minister as of July 20, 2026, pledging utility reform and immediately cancelling the digital ID project.

Afghanistan Agriculture Minister Visits India to Discuss Trade Access

Afghan Agriculture Minister Mawlawi Ataullah Omari visited New Delhi in July 2026 to negotiate expanded trade ties and simplified market access for Afghan agricultural exports to India.

INL Alleges Conspiracy Behind Kerala Government’s Move to Reconstitute Waqf Board

The Indian National League has accused the Kerala government of conspiring to restructure the State Waqf Board to bypass its legal position on the Munambam land dispute.

Supreme Court's Delhi Metro Ruling Damaged Arbitration Integrity, Says Justice Bhuyan

Supreme Court Justice Ujjal Bhuyan warned that the recent Delhi Metro judgment damaged India's arbitration framework by overriding the finality of arbitral awards via curative jurisdiction.

SEBI Enables Systematic Withdrawal and Transfer Plans for Demat Mutual Funds

SEBI has mandated depositories and RTAs to support Systematic Withdrawal Plans (SWP) and Systematic Transfer Plans (STP) for mutual fund units held in demat accounts, ensuring operational parity with Statement of Account holdings.

India Jammu and Kashmir

Flash Floods in Jammu and Kashmir Kill Eleven; Amarnath Yatra Suspended

Severe flash floods triggered by heavy rains in Jammu and Kashmir have claimed at least 11 lives, prompting the suspension of the Amarnath Yatra on both routes. Rescue operations are underway.

Delhi Police Enforce Section 163 BNSS Ahead of Planned Parliament March

Delhi Police have enforced Section 163 of the Bharatiya Nagarik Suraksha Sanhita (BNSS) in New Delhi district to block a planned Parliament protest march by the Cockroach Janta Party.

Congress Urges Allies to Protect 1971 Census Freeze for Delimitation

The Congress party is urging allies like the DMK and TDP to defend the 1971 Census baseline for seat allocation, warning that redrawing boundaries based on current data would penalize states with successful population control.

US and Iran Exchange Direct Strikes, Leaving Dozens Dead in Middle East

Tensions in the Middle East reached a breaking point on July 19, 2026, as the US and Iran traded direct military strikes, leaving dozens dead and risking Strait of Hormuz shipping.

RBI to Auction State Government Securities Worth ₹21,700 Crore on July 21

The Reserve Bank of India has scheduled an auction for state government securities totaling ₹21,700 crore on July 21, 2026. Twelve states and Union Territories will participate.

Home Minister to Introduce Bill Criminalizing Insults to National Song Vande Mataram

Home Minister Amit Shah is set to table the Prevention of Insults to National Honour (Amendment) Bill, 2026, in the Rajya Sabha, seeking to criminalize insults to the National Song 'Vande Mataram'.

India Telangana

Telangana Government Announces New Legislation Against Food and Milk Adulteration

Telangana Chief Minister Revanth Reddy announced on July 18, 2026, that the state government will enact strict laws to penalize the use of chemicals in food preservation and milk adulteration.

World United States

DHS Adjusts F, J, and I Visa Policies for Indian and Chinese Nationals

The U.S. Department of Homeland Security has introduced changes to F, J, and I visa categories, citing national security risks associated with students, journalists, and exchange visitors from India and China.

RBI Schedules ₹1.25 Lakh Crore Variable Rate Repo Auction for July 20

To address evolving liquidity conditions, the Reserve Bank of India will conduct a Variable Rate Repo (VRR) auction on July 20, 2026. The central bank has notified an amount of ₹1,25,000 crore for a seven-day tenor.

World Venezuela

Venezuela Earthquake Death Toll Surpasses 5,000; IMF Releases Emergency Relief Funds

The death toll from a devastating earthquake in Venezuela has climbed to 5,069, with most casualties reported in the coastal region. To assist with recovery, the IMF has released emergency financing.

World Middle East

Two US Soldiers Killed and One Missing After Strikes in Jordan

United States Central Command confirmed that two U.S. service members were killed and one is missing following strikes in Jordan. Identities will be released 24 hours after formal notification of the next of kin.

India Maharashtra

RBI Restricts Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank Operations

The RBI has placed Nashik-based Padmashri Dr. Vithalrao Vikhe Patil Co-operative Bank under strict operational restrictions starting July 17, 2026. Citing supervisory concerns, the regulator has capped individual withdrawals at ₹1 lakh and prohibited the bank from issuing new loans or accepting fresh deposits for six months.

World Humanitarian Crisis

UN agencies report over 500 Rohingya feared dead in Bay of Bengal boat capsizes

UN agencies have reported that over 500 Rohingya refugees are feared dead following multiple boat capsizes in the Bay of Bengal during the monsoon. The crisis highlights the risks faced by displaced populations.

SEBI Issues Recovery Demand to Oriental Trimex Directors Over Financial Irregularities

The Securities and Exchange Board of India has issued a recovery demand notice to the promoters and directors of Oriental Trimex Ltd. The notice seeks to recover unpaid penalties related to financial irregularities.

Government Adds 25 New Medical Colleges, Raising Total MBBS Seats to 63,296

The Union Government has approved the establishment of 25 new medical colleges across multiple states. The decision raises the total number of government medical college MBBS seats to 63,296.

PM Modi to Unveil ₹5,278 Crore Highway Projects in Punjab

Prime Minister Narendra Modi is scheduled to inaugurate and lay the foundation stones for national highway projects worth ₹5,278 crore in Punjab. The projects aim to enhance connectivity to border districts.

Navi Mumbai and Guwahati Airports Named Among World’s Most Beautiful

The Navi Mumbai International Airport and Guwahati's Lokpriya Gopinath Bordoloi International Airport terminal have been recognized among the world's most beautiful by UNESCO's Prix Versailles 2026.

India Maharashtra

Maharashtra’s Ladki Bahin Yojana Beneficiary Count Drops Following CAG Audit

The beneficiary count for Maharashtra's Ladki Bahin Yojana has dropped significantly following a Comptroller and Auditor General audit. The audit identified duplicate applications and ineligible registrations.

Ukraine Parliament Confirms Serhii Koretskyi as Prime Minister

Ukraine's parliament, the Verkhovna Rada, has confirmed Serhii Koretskyi as the new Prime Minister following a cabinet restructuring. Koretskyi pledges to prioritize defense production and economic stabilization.

Kerala High Court Stays Operations of State Waqf Board Over Composition Dispute

The Kerala High Court has stayed all executive decisions and operations of the State Waqf Board. The stay follows a petition challenging the structural composition of the board under the Waqf Act, 1995.

US Imposes 25% Tariff on Brazil Citing Unfair Trade Practices

The United States has announced a 25% tariff on imports of Brazilian agricultural and industrial goods. The decision, effective immediately, cites unfair trade subsidies and protectionist barriers against U.S. exports.

PM Modi to Launch India’s First Hydrogen Train and ₹25,000 Crore Infrastructure Projects

Prime Minister Narendra Modi is scheduled to launch India's first hydrogen-powered passenger train and inaugurate development projects worth ₹25,000 crore. The initiatives aim to promote green energy in railways.

RBI Financial Inclusion Index Hits 70.0 in FY26, Usage Drives Gains

The Reserve Bank of India's Financial Inclusion Index (FI-Index) rose to 70.0 for the financial year ended March 2026. The improvement was driven primarily by gains in the financial usage parameter.

Indians Account for Nearly Half of Seafarer Deaths in Hormuz Crisis

International maritime security reports indicate that Indian nationals account for nearly half of seafarer deaths in the ongoing Strait of Hormuz shipping crisis. The development raises concerns for Indian merchant navy personnel safety.

RBI Issues Draft Guidance on Data Governance for Regulated Entities

The Reserve Bank of India has released draft guidelines on data governance for banks and financial institutions. The framework aims to ensure data privacy, security, and integrity across regulated entities.

China GDP Growth Slows to 4.3% in Second Quarter 2026

China's economic growth slowed to 4.3% in the second quarter of 2026. The slowdown is attributed to a property market depression, high local government debt, and weak consumer demand.

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