Current Affairs 26 August 2026

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NATIONAL AFFAIRS

NITI Aayog Report: 87 Million Indian Youth Are Not Studying, Working Or In Training
In August 2026, the National Institution for Transforming India (NITI Aayog) released its latest report titled “Reimagining Skilling for Viksit Bharat@ 2047”. The report estimated 87 million (8.7 crore) youth aged 15 to 29 years are not studying, working or receiving training.

• The estimates presented in the report are based on data from the 78th round of the National Sample Survey (NSS) conducted in 2021.

Key Estimates:
Categories: The NITI Aayog’s report has categorised India’s workforce and learners into 5 main groups: those in school, tertiary education, formal and informal work, Not in Education Employment and Training (NEET) youth and women.
Employability Gap: The report noted the weak link between formation and employment as it highlighted that only 8.25% of graduates are employed in roles aligned with their qualifications.
Fewer Vocational Subjects: The report also  highlighted that at present, fewer than 1 in 12 secondary schools offer vocational subjects, despite the National Education Policy (NEP 2020) and National Curriculum Framework which emphasises on greater integration of vocational education and job skills from Class 6th.
Number of People Trained: As per the report, over 7.67 crore people have been trained since 2014-15.

MeitY Launched GENESIS EIR Cohort 3.0 at GENESIS NextGen Startup Summit in Coimbatore, TN
In August 2026, the Ministry of Electronics and Information Technology (MeitY), through MeitY Startup Hub (MSH), launched the 3rd  cohort of its Gen-Next Support for Innovative Startups (GENESIS) Entrepreneur-in-Residence (EIR) programme, a national initiative designed  to support aspiring entrepreneurs, innovators, researchers, students and early-stage startup founders in transforming technology-driven ideas into viable ventures.

• The GENESIS EIR 3.0 was formally launched at the GENESIS NextGen Startup Summit (Coimbatore Edition) held at Rathinam Global University in Coimbatore, Tamil Nadu (TN) by Panneerselvam Madanagopal, Chief Executive Officer (CEO) of MSH.

About GENESIS EIR Cohort-3: 
Aim: The programme is part of the GENESIS scheme, a flagship initiative of MeitY Startup Hub, with a total budget outlay of Rs 490 crore, aims to identify, support and accelerate startups, particularly those emerging from Tier-II and Tier-III cities.
Focus Areas: Implemented by MSH,  Cohort-3 of GENESIS EIR specifically focuses on innovations in emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML), Internet of Things (IoTs), semiconductor and Very Large Scale Integration (VLSI) technologies, cybersecurity, among others.
Financial Assistance: Under the GENESIS’s EIR component, selected innovators will receive maximum  financial assistance of Rs 10 lakh through participating GENESIS incubators.

PNGRB Approves 1,800 km LPG Pipeline Network with Rs. 7,000 Crore Investment 
In August 2026, the Petroleum and Natural Gas Regulatory Board (PNGRB) authorised the development of around 1,800 kilometres (km) of new Liquefied Petroleum Gas (LPG) pipeline infrastructure across 6 states, involving an estimated capital investment of around Rs. 7,000 crore, to strengthen India’s energy infrastructure and LPG supply-chain resilience.

• The three LPG pipeline projects have been authorised for development by GAIL (India) Limited, a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum and Natural Gas (MoPNG).

Highlights of the LPG Pipeline Expansion:  
Projects:  The three approved LPG pipeline projects include the 556 km Cherlapally (Telangana)–Nagpur (Maharashtra) pipeline, the 611 km Jhansi (Uttar Pradesh-UP)–Sitarganj (Uttarakhand) pipeline, and the 633 km Shikrapur (Maharashtra)–Goa–Hubli (Karnataka) pipeline.
Network Growth:  The projects will expand the PNGRB-approved common-carrier LPG pipeline network from around 7,700 km to nearly 9,500 km, marking an increase of about 23.5%.
Significance:  The expanded network will improve LPG movement from coastal import terminals to inland markets, while reducing tanker movement, transportation costs, road congestion, and carbon emissions.

Union Minister Jyotiraditya M. Scindia Launches Revamped Dak Sewa and Dak MITRA Apps to Enhance Digital Postal Services 
In August 2026, the Union Minister Jyotiraditya M. Scindia, Ministry of Communications, through Department of Posts (DoP) (India Post), launched the revamped Dak Sewa Application (App) and Dak MITRA (Mobile Interface for Transactions and Rural Assistance) App at Rang Bhavan in New Delhi, Delhi, aimed at modernising postal services and enhancing last-mile delivery.

• He also inaugurated 14 renovated post office buildings across 10 states, marking a significant step towards a more modern, accessible, and citizen-centric India Post.

About India Post Digital Transformation:
Dak MITRA App:  The Dak MITRA App is developed indigenously by the Centre for Excellence(CoE) in Postal Technology under the Advanced Postal Technology (APT) platform as a unified operational system for over 1.4 lakh Branch Post Offices.
Dak Sewa App: The Dak Sewa App provides citizens with 24×7 access to postal services, including tracking, booking, complaints, Post Office and PIN(Postal Index Number) code locators, and financial calculators. It supports 23 Indian languages through BHASha INterface for India (BHASHINI).

CBN and PHARMEXCIL Sign MoU to Boost Pharma Exports 
In August 2026, the Central Bureau of Narcotics (CBN) and the Pharmaceuticals Export Promotion Council of India (PHARMEXCIL) signed a Memorandum of Understanding (MoU) to promote legitimate pharmaceutical exports and prevent diversion of controlled substances.

• The MoU was signed by Dr Dinesh Bisen, Narcotics Commissioner (CBN) and Raja Bhanu, Director General(DG), PHARMEXCIL at the CBN Headquarters, Gwalior, Madhya Pradesh (MP).

About CBN–PHARMEXCIL MoU: 
Objective: The MoU promotes legitimate pharma exports, reduces operational hurdles, and prevents diversion of narcotic drugs, psychotropic substances, and controlled chemicals.
Framework:  CBN and PHARMEXCIL will develop a Voluntary Code of Conduct (VCC) to improve exporter compliance and streamline export procedures.
Coordination:  The partnership includes workshops, awareness programmes, and regulatory information sharing with institutions like Central Drugs Standard Control Organisation (CDSCO) and Customs.
Pharma Sector:  The MoU strengthens India’s global pharmaceutical position in Active Pharmaceutical Ingredients (APIs), bulk drugs, formulations, biologics, and medical devices.
About CBN:  Established in 1950 and is headquartered in Gwalior, MP. It, functions under the Department of Revenue(DoR), Ministry of Finance(MoF).

• It is the agency responsible for administering the facilitation, regulation, and enforcement provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985.

BANKING & FINANCE

UPI Completes 10 Years of Digital Payment Revolution
On August 25 2026, the Unified Payments Interface (UPI) launched by the National Payment Corporation of India (NPCI), completed 10 years of transforming digital payments and has emerged as the backbone of India’s digital payments ecosystem.
About Unified Payments Interface (UPI):
Concept: It is an instant payment system, built over Immediate Payment Service (IMPS) infrastructure, allowing instant transfer of money between any two parties’ bank accounts.
Share of UPI: The share of UPI in India’s digital Payments is 84% in Financial Year 2025-26 (FY26).
Growth: Annual transaction volume expanded from just 1.78 crore (Cr) transactions in Financial Year 2016-17 (FY17) to over 24,162 Cr transactions in FY26, representing an almost 13,000-fold surge in transaction volume.

• At the same time, transaction value rose sharply from Rs 0.07 lakh Cr in FY17 to approximately Rs 314 lakh Cr in FY26, translating into a more than 4,000-fold increase in transaction value.

Citigroup and Axis Bank Partner to Finance NRI Investments in FCNR Deposits
In August 2026, Citigroup Inc. entered into an Partnership with Axis Bank Limited to provide financing support to Non-Resident Indians (NRIs) investing in Foreign Currency Non-Resident (FCNR) deposits with the Indian bank.

• Axis Bank offers FCNR deposit rates of up to 6.40%.

Key Details of Partnership:
Framework: Under the arrangement, Citigroup will provide financing to NRIs investing in foreign currency deposits through its offshore operations, while Axis Bank will issue Standby Letters of Credit (SBLCs) to support the financing, enabling NRIs to leverage their FCNR deposits with the bank.
RBI Initiative: In June 2026, the Reserve Bank of India (RBI) introduced a concessional swap facility to encourage banks to mobilise FCNR deposits, allowing them to issue SBLCs against such deposits and enabling financing through overseas banks.
Impact: The arrangement strengthens forex inflows and reserves by establishing a cross-border financing framework connecting global banks and NRIs, enabling overseas bank participation and providing flexible financing against FCNR deposits.
Major Currencies & Tenure: FCNR deposits are available in major currencies such as US Dollar (USD), Euro (EUR), Pound Sterling (GBP), and Japanese Yen (JPY), with fixed deposit tenures ranging from 1 year to 5 years.
About Axis Bank: Established in 1993 as UTI Bank and renamed in 2007, it is headquartered in Mumbai, Maharashtra. The bank is led by Managing Director (MD) & Chief Executive Officer (CEO) Amitabh Chaudhry with the tagline Badhti Ka Naam Zindagi.

AWARDS & RECOGNITIONS

Kaziah Liz Mejo from Kerala Won Miss Universe India 2026 Title
In August 2026, Kaziah Liz Mejo, a 19-year old law student from Kerala, won Miss Universe India 2026 title, after competing against 53 contestants at the pageant finale, organised by the Glamanand Group in Jaipur, Rajasthan.

• She has created history by becoming the first woman from Kerala to win the Miss Universe India title.
• After winning this title, Kaziah Liz Mejo will now officially represent India at the 75th Miss Universe pageant scheduled in November 2026 in Puerto Rico.

About Miss Universe India 2026:
Jury Panel: Former Miss Universe Sushmita Sen led the jury panel for this year’s Miss Universe India finale, along with previous titleholders including, Urvashi Rautela (Miss Universe India 2015) and Celina Jaitley (Miss Universe India 2001).
Runner-Ups: Vaishnavi Ganesh from Tamil Nadu (TN) secured the Miss Universe International 2026 title as 1st-runner up, followed by Anushri Satavlekar from Gujarat named as the 2nd-runner up in the finale.
Previous Year Winner: Last, Manika Vishwakarma (from Rajasthan) named Miss Universe India, who then represented India at the 74th Miss Universe pageant held in Bangkok, Thailand.

ACQUISITIONS & MERGERS

TCS Acquires Porsche’s IT Arm MHP for EUR 320 Million
In August 2026, Tata Consultancy Services (TCS) announced the acquisition of MHP Management- und IT-Beratung GmbH (MHP), the management and IT consulting subsidiary of Porsche AG, for an enterprise value of EUR 320 million(around Rs 3,575 crore).

• The acquisition forms part of a 5-year strategic partnership worth EUR 1.25 billion aimed at accelerating Artificial Intelligence (AI), digital transformation, and software-defined mobility solutions.

TCS–Porsche Partnership: 
Acquisition:  TCS will acquire 100% stake of MHP , within the next three to four months, strengthening its global presence across Germany, Romania, the United Kingdom (UK), the United States of America (USA), India, and Mexico.
AI Partnership:  The partnership includes an AI Mobility Centre of Excellence (CoE) for Porsche AG to develop AI solutions across engineering, manufacturing, operations, and customer experience.
Regulatory Approval:  The acquisition requires approvals under European Union merger control, EU Foreign Subsidies Regulation, Romania’s Foreign Direct Investment rules, and Germany’s regulatory process.
About TCS: Established in 1968, TCS is headquartered in Mumbai, Maharashtra, operates under the Tata Group. It is led by Chief Executive Officer (CEO) and Managing Director (MD) K Krithivasan.

SCIENCE & TECHNOLOGY

India Test-Fires First 100% Indigenous AK-203 ‘Sher’ Assault Rifle at Amethi Facility in UP
In August 2026, Indo-Russian Rifles Private Limited (IRRPL), based at Korwa, Amethi district, Uttar Pradesh (UP), successfully produced and test-fired the first 100% indigenised AK-203 ‘Sher’ assault rifle, manufactured entirely using Indian components and materials.

• The prototype represents a significant step towards Aatmanirbhar Bharat, advancing localisation of the AK-203 production programme for the Indian Army (IA).

About AK-203 ‘Sher’ Assault Rifle:
Features: The AK-203 is a Kalashnikov AK-100 series gas-operated, magazine-fed assault rifle featuring a 7.62×39 millimeter(mm) cartridge, It has a firing rate of around 700 rounds per minute, an effective range of up to 800 metres(m), and a 415 mm barrel. It features an adjustable folding stock and provisions for mounting optics and other accessories.
INSAS Replacement:The rifle is intended to replace the INSAS (Indian Small Arms System) rifle and will be handed over for Indian Armed Forces trials in September 2026.
Background:The India–Russia AK-203 production agreement established IRRPL at Korwa with Transfer of Technology (ToT) completed in 2023–24 and initial rifle supplies to the Indian Army(IA) in 2024.
Contract: The Rs. 5,200 crore contract covers the supply of 6,01,427 AK-203 rifles, with the delivery timeline advanced from the original target of October 2032 to the revised target of December 2030.
IRRPL: It is a Joint Venture(JV) established between India and Russia in 2019 to locally manufacture AK-203 assault rifles under the ‘Make in India’ initiative.

US Navy Unveils ‘AIM-424 Malice’ Long-Range Air-to-Air Missile With 463 km Range 
In August 2026, the United States (US) Navy, unveiled the ‘Air Intercept Missile (AIM)-424 Malice’, a next-generation Long Range Air-to-Air Missile (LRAAM), developed by Raytheon, a subsidiary of RTX Corporation, with a strike range exceeding 250 nautical miles (463 kilometer, km).

• The missile is designed to strengthen long-range aerial combat and naval defence capabilities.

About AIM-424 Malice Missile:
Technology: It uses a two-stage solid-propellant rocket motor enabling high-speed, long-distance engagement with sustained energy for terminal manoeuvres against moving aerial targets.
Guidance: The system integrates inertial navigation, satellite and datalink updates, and advanced terminal seekers combining radar and infrared sensors for high accuracy and resistance to jamming.
Compatibility: The missile is designed for internal carriage in stealth aircraft such as the F-35 Lightning II and F-22 Raptor, and external carriage on the F/A-18 Super Hornet.
Role: It is intended to enable a ‘first look, first shot, first kill’ advantage for fleet air defence by targeting high-value airborne assets such as AWACS (Airborne Warning and Control System), aerial refuelling tankers, and enemy bombers before they launch attacks.

SPORTS

Guwahati To Host 2028 India Open Badminton Tournament
In August 2026, Sanjay Mishra, Secretary General, Badminton Association of India (BAI) announced that the 2028 edition of the India Open Badminton Tournament will be held at the National Centre of Excellence (NCOE) for Badminton in Guwahati, Assam, instead of its traditional venue, KD Jadhav Indoor Hall, New Delhi, Delhi.

• The decision was taken as the tournament schedule in the last week of January 2028 coincides with the security arrangements for the Republic Day celebrations on 26 January in New Delhi.

About 2028 India Open:
Overview: The India Open is a major tournament under the Badminton World Federation (BWF) World Tour calendar and is part of the BWF Super 750 category, attracting top international badminton players.
Relocation: The tournament will be held outside New Delhi for the first time in recent years as a temporary relocation, with the event scheduled to return to New Delhi in 2029.
Previous Hostings: Guwahati has previously hosted major badminton events, including the BWF World Junior Championships and international team tournaments.
Categories: The tournament features competitions in five disciplines: Men’s Singles, Women’s Singles, Men’s Doubles, Women’s Doubles and Mixed Doubles.
About Super 750: The BWF upgraded the tournament to Super 750 status from the 2023 season, placing it alongside China Masters, Denmark Open, French Open, Japan Open, and Singapore Open, with total prize money increased to over USD 950,000.
About BWF: Established in 1934 as the International Badminton Federation (IBF) and renamed BWF in 2006, it is headquartered in Kuala Lumpur, Malaysia. The current President is Poul-Erik Høyer Larsen.

Indian Cricketer Karn Sharma Announces Retirement From All Formats 
In August 2026, veteran Indian leg-spinner Karn Sharma announced his retirement from all formats of competitive cricket at the age of 38, with his final professional match held in the Uttar Pradesh (UP) Twenty20 (T20) League Season 4, thereby bringing the curtain down on a career spanning nearly two decades.
About Karn Sharma:
Background: He rose through the UP Cricket Association (UPCA) ranks and made his First-Class debut for Railways in 2007, establishing himself in domestic cricket.
Career: He represented India in 1 Test, 2 One Day Internationals (ODIs), and 1 Twenty20 International (T20I), gaining recognition for strong domestic performances, especially in the 2012–13 Ranji Trophy season.
Stats: He recorded 270 wickets in 97 First-Class matches, 153 wickets in 123 List-A matches, and 168 wickets in 191 T20 matches, reflecting consistency across formats.
IPL: He won four Indian Premier League (IPL) titles, including a rare three-peat with different teams: Sunrisers Hyderabad (SRH) (2016), Mumbai Indians (MI) (2017), and Chennai Super Kings (CSK) (2018, 2021).

• He was also the highest-priced player in the UP T20 2026 auction, bought by Kanpur Superstars for Rs.23 lakh for the second consecutive year.

BOOKS & AUTHORS

Arindam Chaudhuri Launched His New Book ‘Africa Before America’
In August 2026, Dr. Arindam Chaudhuri, Management thinker, author and education entrepreneur, launched his new book Africa Before America, which explores historical perspectives on Africa’s role and significance before the rise of modern America.
About Africa Before America:
Themes: The book explores themes related to African history, civilisations, global economic development, and historical perspectives.
Focus: It represents his vision of a developed and egalitarian global society, focusing on reducing global income inequalities, promoting economic growth and human development in Africa, and creating a more equal world order.
1.25:1 Egalitarian Concept: Based on his father Dr. Malay Chaudhuri’s theory ‘Production of Skills by Means of Skill’ the concept proposes that eliminating systemic income inequality requires the highest-paid individual in an organisation to earn no more than 1.25 times the salary of the lowest-paid employee.
Notable Works: His notable works include The Great Indian Dream, Count Your Chickens Before They Hatch, Discover the Diamond in You, Beyond God & Capitalism (2019), What Marx Left Unsaid, and 2047: A Roadmap to Beating USA & China.

IMPORTANT DAYS

International Day for the Remembrance of the Slave Trade and its Abolition 2026 – August 23 
The United Nations (UN’s) International Day for the Remembrance of the Slave Trade and its Abolition is observed annually across the world on 23 August to honour the memory of millions of people affected by the transatlantic slave trade and recognise the struggles against slavery.
Background:
Proclamation:  The 29th UNESCO General Conference (1997) adopted Resolution 29 C/40, declaring 23 August as the International Day for the Remembrance of the Slave Trade and its Abolition.
History:  The day commemorates the uprising that began on the night of 22–23 August 1791 in Saint-Domingue (present-day Haiti), which became a turning point in the Haitian Revolution and contributed to the abolition of the transatlantic slave trade.
Observance:  The day was first observed in Haiti on 23 August 1998 and later commemorated at Gorée Island, Senegal, in 1999.
Led by: The observance is led by the United Nations Educational, Scientific and Cultural Organization (UNESCO).
Significance:  The day raises awareness about the history and impact of slavery while recognising resistance against the slave trade and promoting reflection on its lasting effects, including inequality and discrimination.

STATE NEWS

Odisha Launches ‘Bidesh Sikhyabruti’ Scholarship Scheme to Fund Overseas Studies for SC/ST Students 
In August 2026, the Odisha Government, led by Chief Minister (CM) Mohan Charan Majhi, launched the ‘Bidesh Sikhyabruti’ Scholarship Scheme to provide financial assistance to meritorious Scheduled Caste (SC) and Scheduled Tribe (ST) students pursuing higher education abroad.

• The scheme, introduced under the Mukhyamantri Medhabi Chhatra Protsahan Yojana (MMCPY), supports eligible students pursuing Postgraduate (PG) and Doctor of Philosophy (PhD) programmes at reputed foreign universities.

About Bidesh  Sikhyabruti Scheme: 
Support:  Selected students will receive up to Rs 25 lakh per year for tuition fees, living expenses, travel, and other costs.
Selection:  A total of 50 students will be selected annually for universities ranked among the Top 200 in Quacquarelli Symonds (QS) World University Rankings through the Odisha State Scholarship Portal.
Eligibility:  Applicants must be SC/ST students of Odisha with family income up to Rs 12 lakh and required academic qualifications.
Alignment: The scheme aligns with Odisha’s Kindergarten to Post-Graduation (KG to PG) free education policy (1st State in India) launched in July 2026.

UP and Japan’s Yamanashi Prefecture Sign MoUs to Boost Cooperation in Multiple Sectors 
In August 2026, the Uttar Pradesh (UP)  Government and Yamanashi Prefecture of Japan signed five Memoranda of Understanding (MoUs) at the UP-Japan Investment Meet 2026, in Lucknow, UP to enhance cooperation in skills, energy, tourism, industry, and institutional ties.

• Governor of Yamanashi Prefecture Kotaro Nagasaki announced Rs. 600 crore fund for Micro, Small and Medium Enterprises (MSMEs) from the prefecture to invest in UP, with the partnership aimed at strengthening India–Japan relations..

About 5 MoUs between UP–Yamanashi:  
Skilling: Invest UP signed an MoU with the Technical Training & Research Centre (TRRC), Kanpur, UP, to develop technical training pipelines and industrial placement opportunities aligned with advanced Japanese manufacturing standards.
Language: The Uttar Pradesh Labour Department and Yamanashi Prefecture agreed to promote Japanese-language proficiency and skill development to facilitate employment in Japan’s hospitality, healthcare, and engineering sectors.
Tourism: The Uttar Pradesh Tourism Department and Yamanashi Prefecture will jointly promote Buddhist and cultural tourism, highlighting destinations like Sarnath to attract Japanese visitors.
GCCs: Invest UP and Yamanashi Prefecture aim to establish Japanese Global Capability Centres (GCCs) in Noida and Greater Noida (UP) to boost corporate and technology investments.
Legislative: A cooperation agreement between the Uttar Pradesh Legislative Assembly and the Yamanashi Prefectural Assembly enables mutual visits, experience sharing, and policy collaboration across sectors such as agriculture, tourism, and education.

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