NATIONAL UPDATES:
1. Odisha Hosts 4th Adi Karmayogi Regional Lab to Empower
Tribals and Strengthen Grassroots Governance: Odisha hosted the 4th Adi Karmayogi Regional Process Lab (RPL) in Bhubaneswar to
promote responsive governance and empower tribal communities under the Dharti
Aaba Janjatiya Gram Utkarsh Abhiyan (DAJGUA) initiative.25 selected tribal
functionaries from Jharkhand, Bihar, and Odisha are participating in the
week-long programme, which is being facilitated by the Bharat Rural Livelihoods
Foundation (BRLF).The RPL follows a cascading capacity-building model, where
trained State Master Trainers (SMTs) will further conduct State and District
Process Labs to expand the impact at grassroots levels.
2. Centre Approves 7 PM MITRA Parks Across India to Boost
Textile Sector, Launches Skill & Export Initiatives: The Government has
finalized the setting up of 7 PM
MITRA Parks at specific locations: Virudhunagar (Tamil Nadu), Warangal (Telangana), Navsari (Gujarat),
Kalaburagi (Karnataka), Dhar (Madhya Pradesh), Lucknow (Uttar Pradesh), and
Amravati (Maharashtra). The scheme involves an outlay of ₹4,445
crore till 2027-28, aiming to attract ₹70,000 crore in investments and generate
about 20 lakh direct and indirect jobs.The ‘Samarth’ scheme, aimed at capacity
building in the textile sector, is being implemented across India to offer
demand-driven, placement-oriented skill training (excluding spinning and weaving).
In Haryana, 26 implementing partners are operating 80 active training centres
for entry-level and up/reskilling programs.The Government provides financial
support to various Export Promotion Councils and trade bodies involved in
textile and garment exports for organizing or participating in trade fairs,
exhibitions, and buyer-seller meets at national and international levels to
enhance exports.
3. Cabinet Approves ₹6,520 Crore for PMKSY to Boost Food
Processing and Safety Infrastructure:
The Union Cabinet approved
a total outlay of ₹6,520 crore for
PMKSY during the 15th Finance Commission cycle (2021–22 to 2025–26), including
an additional ₹1,920 crore to enhance key components of the scheme.A major
allocation of ₹1,000 crore will be invested to develop 50 Multi-Product Food
Irradiation Units under the ICCVAI scheme and establish 100 NABL-accredited
Food Testing Laboratories (FTLs).The initiative aims to strengthen India’s food
processing ecosystem by increasing food preservation capacity by 20–30 lakh
metric tonnes annually, reducing spoilage, and promoting private sector
investment.
4. ICMAI appoints Srinivasa Prasad as President, Joshi as
VP for 2025-26 term: TCA
Srinivasa Prasad has been elected President of the Institute of Cost Accountants of India (ICMAI) for the
council year 2025–26; he brings nearly 40 years of experience in
finance, cost management, and CSR.Neeraj D Joshi, a cost accountant, has been
elected as the Vice President of ICMAI for the 2025–26 term.ICMAI, a statutory
body under the Ministry of Corporate Affairs, Government of India, is
headquartered in New Delhi and has over 1 lakh qualified CMAs and 6 lakh
students.
5. 3 August – National Watermelon Day: National Watermelon Day is observed every
year on 3rd August, primarily in the United States, to celebrate and
enjoy the sweet and refreshing fruit — watermelon.Watermelon is composed of
over 90% water, making it a hydrating and nutritious fruit, especially popular
during the summer months.
INTERNATIONAL UPDATES:
1. DPIIT Signs MoU with Roche India to Support Healthtech
Startups in Critical Therapeutic Areas: DPIIT and Roche Products (India) Pvt. Ltd. have signed an MoU to
support DPIIT-recognised startups working in key therapeutic areas like
oncology, neurology, ophthalmology, haematology, and rare diseases, providing
them with mentorship, validation support, and access to global platforms.The
partnership also focuses on capacity-building in areas such as Health Economics
and Outcomes Research (HEOR), Good Clinical Practices (GCP), and patient
engagement, reinforcing DPIIT’s mission to make India a global hub for health
innovation.
2. 3 August – CLOVES Syndrome Awareness
Day: CLOVES Syndrome Awareness Day is observed annually
on August 3rd to raise awareness about CLOVES Syndrome, a rare and
complex congenital disorder.CLOVES stands for Congenital Lipomatous Overgrowth,
Vascular malformations, Epidermal nevi, and Scoliosis/Skeletal
abnormalities.The syndrome is caused by mutations in the PIK3CA gene, which
leads to abnormal tissue growth and vascular malformations affecting various
parts of the body.
OTHER UPDATES:
DEFENCE
1. Vice Admiral Sanjay Vatsayan Takes Charge as 47th Vice
Chief of the Naval Staff: Vice
Admiral Sanjay Vatsayan, AVSM, NM, has assumed charge as the 47th Vice Chief of the Naval Staff (VCNS).
He is
an alumnus of the 71st course of the National Defence Academy, Pune, and was
commissioned into the Indian Navy on 1st January 1988.Before leading the
Eastern Fleet, Vice Admiral Vatsayan held the position of Assistant Chief of
Naval Staff (Policy and Plans) after his promotion to Flag Rank in February
2018.
2. Raj Kumar Arora Assumes Charge as Controller General
of Defence Accounts: Shri
Raj Kumar Arora assumed charge as the Controller General of Defence Accounts (CGDA). He is a 1990
batch officer of the Indian Defence Accounts Service (IDAS).He brings vast
experience across multiple domains, including accounting, financial policy,
audit, budgeting, procurement, and personnel management within the defence and
finance sectors.
SPORTS
1. Malta to Host 8th Commonwealth Youth
Games in 2027: Malta will host the 8th
Commonwealth Youth Games (CYG) in late 2027, welcoming around 1,150
athletes aged 14–18 from 74 Commonwealth nations and territories to compete
across eight sports.The event will feature a dual-island model, utilising
existing world-class venues across Malta and Gozo, with two Athlete Villages
set up using local hotels on each island.
SCIENCE AND TECHNOLOGY
1. Google to Invest ₹51,000 Crore in Asia’s Largest Data
Centre in Visakhapatnam: Google is set to build Asia’s
largest data centre in Visakhapatnam, Andhra Pradesh, with a total
investment of ₹51,000 crore (approximately $6 billion). The facility will have
a 1 gigawatt (GW) capacity along with supporting energy infrastructure.Out of
the total investment, nearly ₹17,000 crore ($2 billion) will be dedicated to
developing renewable energy capacity, reflecting Google’s global commitment to
sustainable and green infrastructure.Alphabet Inc., Google’s parent company,
has announced a $75 billion global investment plan in April 2025 to expand its
data centre network, including major facilities in Singapore, Malaysia, and
Thailand to meet rising digital demand.
BANKING AND FINANCE
1. RBI Approves Merger of New India Co-operative Bank
with Saraswat Bank: The Reserve Bank of India (RBI) has approved the merger of New India Co-operative Bank with
Saraswat Co-operative Bank, the largest urban co-operative bank in
India. The merger will take effect from August 4, 2025.Following the merger,
all assets, liabilities, and branches of New India Co-operative Bank will be
taken over by Saraswat Bank, and all existing customers will be treated as
Saraswat Bank customers from the effective date, with full protection of their
interests.The merger was approved by the shareholders of both banks—Saraswat
Bank at its Special General Meeting on July 22, 2025, and New India
Co-operative Bank at its Annual General Meeting—before receiving RBI’s final
nod.
2. Digital Transactions Surge in July 2025: UPI Hits
19.47 Billion, IMPS and AePS Also Rise While FASTag Sees Dip: UPI transactions reached
a record 19.47 billion in July
2025, marking a 6% rise in volume and 4% in value (₹25.08 trillion)
over June. Daily UPI transactions rose from 613 million to 628 million, with a
35% YoY increase in volume and 22% in value compared to July 2024.IMPS
transactions stood at 482 million in July, up 8% from June’s 448 million, with
a transaction value of ₹6.31 trillion (up 4%). Compared to July 2024, IMPS saw
a 2% dip in volume but a 6% rise in value.FASTag transactions declined by 4% in
July to 371 million, with the value slipping 2% to ₹6,669 crore. However, on a
YoY basis, FASTag usage rose by 15% in volume and 20% in value compared to July
2024.Aadhaar Enabled Payment System (AePS) transactions in July touched 103
million, a 6% increase over June. However, the transaction value slightly
decreased to ₹26,585 crore from ₹26,616 crore in the previous month.
3. India’s GST Collection Rises 7.5% YoY to ₹1.96 Lakh
Crore in July 2025: India’s
gross GST collection for July 2025 rose by 7.5% year-on-year, reaching ₹1.96 lakh crore,
compared to ₹1.85 lakh crore in June 2025.Domestic GST revenue increased by
6.7% to ₹1.43 lakh crore, while revenue from imports rose 9.5% to ₹52,712
crore. GST refunds also surged by 66.8% to ₹27,147 crore.Net GST revenue in
July 2025 stood at ₹1.69 lakh crore, showing a modest 1.7% year-on-year growth;
April 2025 had recorded the highest-ever GST collection at ₹2.37 lakh crore.
4. Fitch Lowers India’s FY26 GDP Growth Forecast to 6.3%: Fitch Ratings has lowered India’s GDP growth forecast for FY26 to 6.3%, a slight revision from its earlier estimate of 6.4% made in April 2025.The agency noted minimal direct impact on Indian corporates from increased U.S. tariffs,suggesting limited global downside pressure.Infrastructure spending remains a key driver, with domestic sectors like oil & gas, cement, construction, telecom, and utilities expected to stay resilient due to strong local demand and regulatory stability.
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