Cabinet Approves Rs 23,731 Crore GOBARdhan Scheme; Rs 8,970.20 crore NH Project in Assam
In August 2026, the Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the Galvanizing Organic Bio-Agro Resources Dhan (GOBARdhan ) scheme with a total budget outlay of Rs 23,731 crore, marking a major step towards India’s clean energy journey
- The scheme will be implemented by the Ministry of Petroleum and Natural Gas (MoPNG) for a period of 10 years i.e. from FY27 to FY36.
About GOBARdhan Scheme:
Aim: To transform India’s vast organic waste resources into clean energy, rural livelihoods and economic growth.
Key Target: The scheme seeks to increase domestic Compressed Biogas (CBG) production by nearly 10-times and attract large-scale private investment through assured offtake by city gas distributors, stable administered pricing, capital subsidies, financial support and pipeline infrastructure.
Squadron Leader Bhawana Kanth Becomes IAF’s First Woman Fighter Combat Leader
In August 2026, Squadron Leader Bhawana Kanth became the first woman fighter pilot of the Indian Air Force (IAF) to successfully complete the prestigious Fighter Combat Leader (FCL) course at the Tactics and Air Combat Development Establishment (TACDE), Gwalior, Madhya Pradesh (MP).
- The achievement makes her the first woman graduate of the IAF’s elite “Top Gun” school, where only about 1% of IAF pilots are selected for the 20-week advanced combat programme.
LASPL and Massivit Signs MoU To Establish India’s First Large-Format Additive Manufacturing Facility
Lohia Aerospace Systems Private Limited (LASPL) signed a Memorandum of Understanding (MoU) with Israel-based Massivit to establish India’s first commercial large-format additive manufacturing facility at its Kanpur, Uttar Pradesh(UP) facility, with an investment of USD 8–10 million over the next 1–2 years.
Key Details of MoU:
Objective: The facility will use Massivit’s large-format three-dimensional(3D)-printing platform to produce composite tooling, aerospace moulds and production tools, reducing production cycles by up to 90% for faster and cost-effective manufacturing.
Applications: Under the partnership, LASPL will hold exclusive rights to deploy the technology for aerospace and defence applications in India, including the manufacturing of Unmanned Aerial Vehicles (UAVs), manned aircraft, and critical aerospace components.
RBI Expands Upper-Layer NBFC list to 17 for FY27; retains Tata Sons in the List
Reserve Bank of India (RBI) identified 17 Non-Banking Financial Companies (NBFC) for inclusion in the Upper Layer (UL) for the year 2026-27 with reference to financials as on March 31, 2026.
- Tata Sons, which is the unlisted parent company of the Tata group, continues to fall under the category of upper-tier NBFCs
NBFC-UL New List - List Increased: The number of NBFCs classified under the Upper Layer (NBFC-UL) has increased from 15 in January 2025 to 17 for 2026–27.
- New Additions: The following NBFCs have been added in this year’s list:
- Rural Electrification Corporation (REC) Limited
- Power Finance Corporation (PFC) Limited
- Indian Railway Finance Corporation (IRFC) Limited
- Housing and Urban Development Corporation (HUDCO) Limited
SBI Life Partners with J&K Bank to Offer Insurance Solutions Across India
SBI Life Insurance Company Limited entered into a corporate agency partnership with Jammu & Kashmir Bank Limited (J&K Bank) to distribute and service SBI Life’s insurance products through J&K Bank’s branch network across India.
- It aims to strengthen financial inclusion while supporting the Insurance Regulatory and Development Authority of India (IRDAI) vision of ‘Insurance for All by 2047’.
Standard Chartered Gets IFSCA Approval to Offer Wealth Management Products from GIFT City
Standard Chartered Bank received approval from the International Financial Services Centres Authority (IFSCA) to offer wealth management products and services through its branch at the Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat.
- The approval enables the bank to provide a wider range of investment solutions to resident and non-resident clients through India’s International Financial Services Centre (IFSC).
Indian Bank Approves Rs 500 Crore MSME Loans During 120th Foundation Day Credit Outreach Programme
Indian Bank (IB) approved nearly Rs 500 crore to Micro Small Medium Enterprise (MSME) loans to 128 beneficiaries and mobilising credit proposals worth nearly Rs. 1,250 crore during a Credit Outreach Programme in New Delhi, Delhi as part of its 120th Foundation Day Fortnight Celebrations.
- The initiative enables faster, paperless loan processing with in-principle approval in about 30 minutes and One-Time Password (OTP)-based digital documentation under the MSME Goods and Services Tax (GST) framework.
Kroll Report 2025: Bollywood Actor Shah Rukh Khan Topped Indian Celebrity Brand Rankings at USD 177.9 million
In August 2026, an American global financial advisory firm, Kroll released the 11th edition of the report titled ‘Kroll Celebrity Brand Valuation 2025’. As per the report, Bollywood actor Shah Rukh Khan emerged as India’s most valuable celebrity, securing the top position in the rankings with a brand value of USD 177.9 million.
- He was followed by actor Ranveer Singh, who retained 2nd place with a brand value of USD 162.9 million, while cricketer Virat Kohli slipped from 1st (2024) to 3rd place, with a brand value of USD 158.4 million.
India Successfully Test-Fires Agni-4 Medium-Range Ballistic Missile from Chandipur, Odisha
India successfully conducted the flight test of the Agni-4 Medium-Range Ballistic Missile (MRBM) from the Integrated Test Range (ITR), Chandipur, Balasore district, Odisha.
- The missile test was conducted by the Strategic Forces Command (SFC) in collaboration with the Defence Research and Development Organisation (DRDO) and successfully validated all operational and technical parameters under the aegis of the SFC.
Indian Grandmaster R Praggnanandhaa Wins Maiden Saint Louis Rapid & Blitz Title
Indian Grandmaster (GM) R Praggnanandhaa won his maiden Saint Louis Rapid & Blitz title at Saint Louis, Missouri, United States of America (USA) held on July 31 – August 7, 2026, finishing ahead of Javokhir Sindarov (Uzbekistan).
- R Praggnanandhaa dominated the tournament by winning the rapid section and maintaining his lead in blitz, finishing with 23.5 points after losing only one blitz game.
England Pacer John Turner Announces Retirement from Professional Cricket
England fast bowler John Turner announced his retirement from professional cricket at the age of 25 after a five-year career (2021–2026), with a prolonged back stress fracture and recurring injuries ending his playing career.
About John Turner:
International: He played two One Day Internationals (ODIs) and two Twenty20 Internationals (T20Is) for England on the 2024 West Indies tour, taking three wickets after earning his call-up through strong performances in The Hundred and for England Lions.
National Handloom Day 2026 – August 7
National Handloom Day is observed annually across India on 7 August to honour the country’s handloom weavers and recognise the handloom sector’s significant contribution to India’s socio-economic development.
Background:
Origin: The Government of India (GoI) declared 7 August as National Handloom Day in 2015 to commemorate the launch of the Swadeshi Movement on 7 August 1905 against the British partition of Bengal, led by Bal Gangadhar Tilak, Lala Lajpat Rai and Bipin Chandra Pal.
Quit India Movement Day 2026- August 8
Quit India Movement Day, also known as August Kranti Diwas, is observed annually across India on 8 August to commemorate the anniversary of the Quit India Movement on 8 August 1942, led by Mahatma Gandhi, which called for the immediate withdrawal of British rule and became a landmark movement in India’s freedom struggle.
About Quit India Movement:
Background: The failure of the ‘Cripps Mission’ in April 1942 to secure Indian cooperation during World War II (WWII) led to the launch of the Quit India Movement.