NATIONAL UPDATES:
Pradhan Mantri Jan Dhan Yojana Completes 11 Years as
World’s Largest Financial Inclusion Programme: Pradhan Mantri Jan Dhan Yojana (PMJDY), launched on 28th August 2014 after being announced by PM Narendra
Modi on 15th August 2014, completed
11 years on 28 August as one of the world’s largest financial
inclusion programmes.The scheme provides universal banking access with
facilities like basic savings accounts, need-based credit, remittances,
insurance, and pension, covering both urban and rural households.Zero-balance
accounts can be opened at bank branches or through Business Correspondents
(Bank Mitras), with every account integrated into the Core Banking System and RuPay
debit cards issued to account holders.PMJDY also promotes financial literacy
and digital banking, supporting mobile banking through USSD services even on
basic phones, ensuring inclusive growth and accessibility.
Union Cabinet Approves Restructuring of PM SVANidhi
Scheme: The Union
Cabinet approved the restructuring of the Prime Minister Street Vendor’s Atma Nirbhar
Nidhi (PM SVANidhi) Scheme, extending the lending period until 31st March 2030 from
31st December 2024.The total outlay for the scheme is seven thousand 332
crore rupees. The key features of the restructured scheme include enhanced loan
amounts across the first and second tranches, provision of UPI-linked RuPay
Credit Card for beneficiaries who have repaid the second loan and digital
cashback incentives for retail and wholesale transactions.The first tranche
loan has been increased up to
15,000 from 10,000 rupees, and the second tranche loans have increased up to 25,000 rupees from 20,000
rupees, while the third tranche remains unchanged at 50,000 rupees.The
restructured scheme aims to benefit one crore 15 lakh beneficiaries, including
50 lakh new beneficiaries. The scheme’s coverage is being expanded beyond
statutory towns to census towns and peri-urban areas in a graded manner.
UP govt to launch ‘No Helmet, No Fuel’ campaign from
September 1: The Uttar
Pradesh government will launch a month-long campaign, ‘No Helmet, No Fuel’, from September 1, under
which petrol pumps will deny fuel to two-wheeler riders not wearing helmets.The
campaign will be led by district magistrates in coordination with road safety
committees, with police, transport, revenue, and district administration
officials ensuring compliance with helmet rules under the Motor Vehicles
Act.Officials emphasized that the initiative is for safety, not punishment,
promoting the rule “Helmet first, fuel later”, with awareness campaigns and
monitoring conducted by the Food & Civil Supplies and Information &
Public Relations Departments.
Rajasthan becomes first state to implement Supreme Court
order on stray dogs: Following the Supreme Court directive,
the Rajasthan government has mandated compliance with the Stray Animal
Birth Control (ABC) Rules 2023, directing all municipal
corporations, councils, and municipalities to implement systematic stray dog
management.Feeding points will be marked in every ward and locality, with urban
bodies coordinating with resident welfare associations and animal welfare
organisations; food and water will be ensured even for rabies-affected
dogs.Stray dogs will be treated, sterilised, vaccinated, tagged, and released
in the same locality, with CCTV monitoring at ABC centres, and only trained
teams allowed to handle dogs; no dog below six months will be
sterilised.Monitoring committees comprising NGO members and animal welfare
workers will oversee the process, with records of sterilisation, vaccination,
deaths, and feeding maintained; costs are fixed at Rs 200 per dog caught and Rs
1,450 for sterilisation and post-operation care.
Bhubaneswar to host National Conference on Welfare of SCs
and STs: Bhubaneswar will
host a two-day National Conference
of Chairpersons of Committees on the Welfare of SCs and STs on
August 29–30, inaugurated by Lok
Sabha Speaker Om Birla, along with an exhibition and souvenir
release.The conference will feature over 120 delegates from Parliament and
State/UT legislatures, discussing the theme: “Role of Parliamentary and
Legislative Committees in Welfare, Development and Empowerment of Scheduled Castes
and Scheduled Tribes.”The event, being held outside Delhi for the first time,
will deliberate on constitutional safeguards, socio-economic development, and
best practices for SC/ST empowerment, aligning with the vision of inclusive
Viksit Bharat 2047.
President appoints Justices Alok Aradhe and Vipul
Manubhai Pancholi as Supreme Court judges: Justice Alok Aradhe (Chief
Justice of Bombay High Court) and Justice
Vipul Manubhai Pancholi (Chief Justice of Patna High Court)
were appointed as Judges of the Supreme
Court by the President of India, following the recommendation of the
Supreme Court Collegium.Justice Alok Aradhe, born in April 1964, began his
judicial career in the Madhya Pradesh High Court in 2009, served in Jammu &
Kashmir and Karnataka High Courts as Acting Chief Justice, and became Chief
Justice of Telangana and Bombay High Courts before his elevation.Justice Vipul
Manubhai Pancholi, born in May 1968 in Ahmedabad, served as Permanent Judge of
Gujarat High Court since 2016 and became Chief Justice of Patna High Court in
July 2025 before his Supreme Court appointment.
Akash Tripathi Appointed as Managing Director of Solar
Energy Corporation of India (SECI): Akash Tripathi (IAS, 1998 batch)
has been appointed as the Managing
Director of Solar Energy Corporation of India (SECI), with approval
from the Appointments Committee of the Cabinet (ACC), in the rank of Additional
Secretary.Santosh Sarangi, IAS (Secretary, MNRE) will continue as the Chairman
of SECI, ensuring a formalised leadership structure for the
organisation.Tripathi’s leadership is expected to enhance execution at scale
and strengthen focus on green hydrogen, energy storage, offshore wind, and
other renewable energy projects under SECI’s mandate.
INTERNATIONAL UPDATES:
Lithuanian parliament approves Inga Ruginiene as new
Prime Minister: The Lithuanian Parliament has
approved the appointment of Inga Ruginiene, a Social Democrat and current
Minister of Social Security and Labour, as the country’s new Prime
Minister.Ruginiene now has 15 days to present a new cabinet list, agreed with
the President, to the Parliament for a vote; she will formally assume office
once the President signs the appointment decree.Elected to Parliament in 2024,
Ruginiene previously served as Chair of the Lithuanian Trade Union
Confederation before beginning her political career.
UN Launches New Mechanisms for AI Governance: The United Nations
General Assembly (UNGA) has taken a decisive step in 2025 to enhance global
cooperation on artificial
intelligence (AI) governance. Two
new institutional mechanisms were established – the United Nations Independent
International Scientific Panel on AI and the Global Dialogue on AI Governance.
These initiatives aim to address the rapid growth of AI technologies and their
complex social, economic, and ethical impacts. The Global Dialogue on AI
Governance is a UN-led forum that brings together member states, industry
leaders, civil society, academia, and researchers. It provides an inclusive
space to discuss critical AI challenges such as algorithmic bias,
misinformation, autonomous weapons, and job displacement. The platform
encourages collaborative policy innovation and shared global values. Annual
high-level sessions are planned, with the first meetings in July 2026 in Geneva
and 2027 in New York. These sessions will review reports and promote
transparency in AI governance. The United Nations Independent International
Scientific Panel on AI will offer independent, rigorous scientific assessments
to guide policymaking. Its role is to monitor emerging AI trends, risks, and
technologies while advising on societal, ethical, and economic implications.
The panel acts as a critical link between cutting-edge AI research and
international policy decisions. An open nomination process will soon invite
global experts to join. The panel will produce annual reports to inform the
Global Dialogue’s deliberations.
Global Economic Impact of Invasive Species
Explored: Recent
research reveals that invasive plants and animals have cost the world economy
over $2.2 trillion since 1960. This figure is 16 times higher than previous
estimates. The study uses data from InvaCost, a comprehensive public database,
and marks underreporting, especially in countries like India. The findings
emphasise the vast economic burden invasive species impose across continents
and the challenges in managing them. The study marks massive underreporting of
management costs, especially in India, where the discrepancy reaches 1.16
billion percent. Europe, Asia, and Africa also show large gaps between reported
and actual costs. This suggests that many countries lack comprehensive data
collection and reporting systems, leading to a hidden economic burden. Language
barriers and limited resources contribute to this challenge.
OTHER UPDATES:
DEFENCE
Defence Ministry Signs MoU with QCI to Enhance Services
for Over 63 Lakh Veterans: The Defence Ministry has signed
a Memorandum of Understanding
(MoU) with the Quality Council of India in New Delhi to strengthen
the delivery of pension, healthcare, resettlement, and welfare services for
over 63 lakh veterans and their dependents.Under the MoU, QCI will support the
Department of Ex-Servicemen Welfare (DESW) in digital evaluations, impact
assessments, and evidence-based policy recommendations.DESW will facilitate
data access and stakeholder coordination with State Governments, Zila Sainik
Boards, Armed Forces Headquarters, and empanelled hospitals.The initiative will
also strengthen healthcare delivery, expand re-employment and entrepreneurship
opportunities for veterans, and reinforce institutional frameworks of State and
District Sainik Boards.
India to Join Over 20 Nations in Multilateral ‘Bright
Star 2025’ Exercise in Egypt: Over 700 personnel from
the Indian Armed Forces and
Headquarters Integrated Defence Staff will participate in the Multilateral Exercise ‘Bright Star 2025’, scheduled
in Egypt from August 28 to September
10, 2025.The exercise will include live firing, command post drills,
short training exercises, and expert-level interactions to enhance jointness,
interoperability, and operational coordination among participating
nations.Hosted by Egypt in partnership with the US since 1980, Bright Star is
one of the largest biennial tri-service multilateral exercises, with the
previous edition held in 2023 that also saw India’s participation.
SPORTS
Ravichandran Ashwin announces shock retirement from IPL: Veteran off-spinner Ravichandran
Ashwin (38) announced his retirement from the Indian Premier League (IPL), while
indicating that he may continue playing in other franchise cricket leagues
worldwide.Ashwin, who began and ended his IPL journey with Chennai Super Kings,
also played for Rising Pune Supergiant, Delhi Capitals, Rajasthan Royals, and
Kings XI Punjab during his career.With 187 wickets in 221 matches at an economy
rate of 7.2, Ashwin retires as the fifth-highest wicket-taker in IPL history,
having also retired from international cricket in December 2024.
SCIENCE AND TECHNOLOGY
PM Modi Inaugurates Maruti-Suzuki’s First Electric
Vehicle “e VITARA” and Lithium-Ion Battery Facility in Gujarat: Prime Minister Narendra Modi inaugurated Maruti-Suzuki’s
first battery electric vehicle (BEV) “e VITARA” and the lithium-ion
battery production facility at Hansalpur, Ahmedabad, highlighting the
India–Japan partnership as “Made for Each Other.”The TDSG lithium-ion battery
facility will produce hybrid battery electrodes locally, with around 80% of
batteries made in India, reducing dependence on imports, and marking a
milestone under Make in India and Atmanirbhar Bharat initiativesPM Modi
emphasized India’s democratic advantages, young skilled workforce, and
industrial growth, noting that clean energy and mobility, supported by reforms
and policies, represent the future of manufacturing and green mobility.The
launch also underscores Gujarat’s leading role in automotive manufacturing,
with EV exports from the state set to reach over 100 countries, while
strengthening India-Japan industrial cooperation initiated by Maruti-Suzuki and
extending to projects like the Mumbai–Ahmedabad Bullet Train.
PNB Inaugurates First Startup-Centric Branch in New Delhi: Punjab National Bank (PNB) inaugurated
its first startup-centric branch
in New Delhi, aligned with the Startup India initiative to promote
entrepreneurship and innovation.The inauguration was attended by Arvind Kumar
(DG, STPI) and Ashok Chandra (MD & CEO, PNB), marking the launch of
comprehensive banking solutions dedicated to startups.An MoU was signed between
PNB and Software Technology Parks of India (STPI) to provide financial support
to eligible startups; signed by Sudhir Dalal (GM, PNB) and Subodh Sachan
(Director, STPI).Under this collaboration, STPI will share a curated list of
startups with PNB to connect them with startup-focused schemes and financial
products, strengthening India’s startup ecosystem.
BANKING AND FINANCE
India set to become world’s second-largest economy in PPP terms by 2038 – EY Report: India is projected to become the world’s second-largest economy in PPP terms by 2038, with an estimated $20.7 trillion economy by 2030, surpassing the US, Germany, and Japan, according to EY’s report.China is expected to remain the largest economy at $42.2 trillion (PPP) by 2030, but faces challenges from an ageing population and rising debt, while the US faces high debt and slower growth.India’s advantages include a youthful population (median age 28.8 in 2025), strong savings and investment rates, and a declining government debt-to-GDP ratio from 81.3% in 2024 to 75.8% by 2030.Structural reforms, resilient fundamentals, and investments in critical technologies will further support India’s growth, with the country expected to overtake Germany by 2028 to become the world’s third-largest economy in market exchange rate terms.
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