Staying updated with today's current affairs is essential for competitive exam aspirants preparing for SSC, UPSC, Banking, State PSCs, and Railway exams. The 7 August 2026 current affairs cover the confirmed RBI MPC August 2026 outcomes (repo rate 5.25% unchanged, GDP upgraded to 6.7%), the Bankers Books Evidence Bill 2026, the Foreign Contribution Regulation Amendment Bill 2026, TRAI's revamped MyCall app, Supreme Court's order on digital arrest scams, Massachusetts and Boston declaring 15 August as 'India Day', 13th BRICS Education Ministers Meeting (Bhubaneswar), KKR acquiring Medicover India, Air India's new CEO Tewolde Gebremariam, China's first rice harvest from Tiangong space station, Tamil Nadu's Vetri Vanamgal drone scheme, National Handloom Day, and Quit India Movement Day — all of which frequently appear in the General Awareness section of government exams.
India – National Current Affairs
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- RBI MPC August 2026: Repo Rate Held at 5.25% (4th Consecutive Hold); GDP Forecast Upgraded to 6.7% – The Reserve Bank of India's Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, concluded its 3rd bi-monthly meeting of FY2026-27 on 5 August 2026, with a unanimous 6-0 vote to keep the policy repo rate unchanged at 5.25%. This marks the 4th consecutive policy meeting where the central bank has maintained status quo on interest rates, retaining its 'neutral' policy stance. In a mildly optimistic signal, the RBI revised its real GDP growth forecast for FY2026-27 upward to 6.7% from 6.6% projected in June 2026. The central bank increased its Q1 FY27 GDP growth projection to 7% from 6.6% and revised the Q2 forecast upward to 6.4% from 6.3%. The Q3 growth estimate was retained at 6.5%, while the Q4 projection remained unchanged at 6.8%. The RBI said the growth outlook continues to remain resilient, supported by domestic demand conditions and improving economic activity. Exam importance: The MPC also retained its 'neutral' policy stance, preserving flexibility for future rate actions in either direction depending on incoming data. The committee explicitly noted that any future policy action would have to take into account the need for recalibration of policy rates in line with evolving growth-inflation dynamics, particularly the normalisation of underlying inflation from its benign levels. Key policy rates (unchanged): Repo Rate: 5.25%; SDF: 5.0%; MSF/Bank Rate: 5.5%; CRR: 4%; SLR: 18%; RBI's CPI inflation forecast for FY27: revised upward to 5.1% (from 4.6%) with peak expected in Q3 FY27 (Oct-Dec 2026); RBI Governor: Sanjay Malhotra (appointed December 2024); MPC has 6 members — 3 from RBI (Governor + 2 Deputy Governors) and 3 external members appointed by GoI; the MPC mechanism was established under Section 45ZB of the RBI Act, 1934.
- Lok Sabha Passes Bankers Books Evidence Bill, 2026 – The Lok Sabha passed the Bankers Books Evidence (Amendment) Bill, 2026, on 5 August 2026, amending the Bankers Books Evidence Act, 1891, to recognise electronic records (including digitally certified bank statements, core banking system printouts, and blockchain-based records) as admissible evidence in courts of law, replacing outdated paper-based evidentiary requirements. Exam importance: The Bankers Books Evidence Act, 1891 is one of India's oldest financial laws; the 2026 amendment modernises the law to align with the Information Technology Act, 2000 and the Indian Evidence Act, 1872 (replaced by the Bharatiya Sakshya Adhiniyam, 2023); electronic bank records as court evidence is critical for digital financial transactions involving UPI, NEFT, RTGS, and IMPS; the Bill was introduced in Lok Sabha on 4 August 2026; it enables banks to produce digital records directly in courts without maintaining physical copies; Union Minister of Finance: Nirmala Sitharaman.
- Parliament Passes Foreign Contribution (Regulation) Amendment Bill, 2026 – Parliament passed the Foreign Contribution (Regulation) Amendment Bill, 2026, further tightening the regulatory framework for foreign funding to NGOs, educational institutions, and cultural organisations in India. The Bill introduces AI-based monitoring of foreign contributions, mandatory quarterly compliance certification, and enhanced penalties for violations including cancellation of FCRA registration. Exam importance: The FCRA (Foreign Contribution Regulation Act), 2010 regulates acceptance and utilisation of foreign contributions; it was significantly amended in 2020 (mandatory FCRA accounts at SBI NDMB branch, 20% admin cost cap, prohibition on sub-granting); the MHA launched the FCRA 2.0 Portal on 30 June 2026 with AI-driven monitoring; India has approximately 16,000 active FCRA-registered organisations; foreign contributions to India: approximately USD 15,000 crore annually; FCRA is administered by the MHA; the amendment is aimed at ensuring foreign funds are not used for activities against national interest or sovereignty.
- TRAI Revamps MyCall App to Improve Voice Call Quality Monitoring – The Telecom Regulatory Authority of India (TRAI) revamped its MyCall mobile application on 5 August 2026 with new features for AI-driven network quality mapping, real-time call quality feedback, and integrated 5G signal strength monitoring, enabling citizens to report dropped calls, poor voice quality, and network disruptions directly to telecom operators and TRAI. Exam importance: TRAI was established in 1997 under the TRAI Act, 1997 as India's independent telecom regulator; HQ: New Delhi; TRAI Chairperson: Anil Kumar Lahoti; the MyCall app enables real-time crowdsourced data collection on voice call quality, supplementing TRAI's Telecom Analytics for Revenue and Interface with Customers (TARIC) system; India has approximately 117 crore mobile subscribers (Telecom Subscription Data, July 2026); Union Minister of Communications: Jyotiraditya M. Scindia; DoT Secretary: Neeraj Mittal.
- Supreme Court Issues Comprehensive Order to Curb Digital Arrest Scams – The Supreme Court of India issued a landmark order on 5 August 2026 to curb the rising menace of "digital arrests" — a cybercrime scam where fraudsters impersonate police, CBI, Income Tax, ED, and Narcotics officers and coerce victims into "digital custody" via video calls, extorting money under the threat of arrest. The Court directed: (1) immediate release of all identified victims under digital custody; (2) mandatory cyber awareness training in all schools and colleges; (3) prosecution of all SIM card dealers found complicit; (4) telecom companies to immediately suspend numbers used in digital arrests. Exam importance: "Digital arrest" is a form of cyber fraud where victims are kept on video calls for hours or days while fraudsters extort money by threatening to "arrest" them for alleged crimes; PM Modi had warned about digital arrests in his Mann Ki Baat (October 2024); India's cybercrime helpline: 1930; National Cyber Crime Reporting Portal: cybercrime.gov.in; India's I4C (Indian Cyber Crime Coordination Centre) under MHA coordinates cybercrime response; India registered approximately 11 lakh cybercrime complaints in 2025 (NCRB); CJI: Justice Sanjiv Khanna.
- 13th BRICS Education Ministers Meeting Concludes in Bhubaneswar (5–7 August 2026) – India hosted the 13th BRICS Education Ministers Meeting in Bhubaneswar, Odisha from 5 to 7 August 2026, led by Union Education Minister Dharmendra Pradhan. The 2026 theme is "Building for Resilience, Innovation, Cooperation and Sustainability." Key outcomes include: a landmark Model BRICS programme (students learning about diplomacy and cooperation), vocational training convergence across BRICS nations, and mutual recognition of qualifications frameworks. Exam importance: India assumed the BRICS Chairship in 2026; the Education Ministers Meeting is part of India's broader BRICS calendar that has included the Agriculture Ministers Meeting (Indore, June 2026), BRICS NSA Meeting (New Delhi, June 2026), BRICS Heads of Space Agencies Meeting (Bengaluru, June 2026), BRICS Anti-Drug Agencies Meeting (Guwahati, July 2026), and BRICS Energy Ministers Meeting (Gurugram, June 2026); BRICS Education Cooperation is guided by the BRICS Network University (NU) established in 2013; Union Minister of Education: Dharmendra Pradhan.
- Massachusetts and Boston Declare 15 August as 'India Day' – The State of Massachusetts and the City of Boston, USA, officially declared 15 August as "India Day" on 6 August 2026, ahead of India's 79th Independence Day, recognising the significant contributions of the Indian-American community in Massachusetts and the historical ties between India and New England. Exam importance: Massachusetts has one of the largest Indian-American communities in the USA — approximately 1.5 lakh Indian-Americans, concentrated in Boston, Cambridge, and Lowell; Cambridge is home to Harvard University and MIT (Massachusetts Institute of Technology); the declaration follows similar "India Day" celebrations in other US cities; India's Independence Day (15 August) is one of the most widely celebrated national days in the Indian diaspora globally; India-US bilateral trade: approximately USD 200 billion (FY26); Indian-Americans: approximately 4.5 million total in the USA.
- Tamil Nadu Launches 'Vetri Vanamgal' Scheme for Women Farmers to Access Drone Technology – Tamil Nadu CM C. Joseph Vijay launched the 'Vetri Vanamgal' (Victory of the Forest) scheme to provide subsidised access to agricultural drones for women farmers and women-led Self-Help Groups (SHGs) across Tamil Nadu's 38 districts, enabling precision agriculture, crop spraying, aerial survey, and soil monitoring. Exam importance: 'Vetri Vanamgal' means "Victory Forest" in Tamil — the scheme aims to double women farmers' income through technology adoption; Tamil Nadu has approximately 65 lakh women farmers and approximately 2.6 lakh active SHGs under TNRTP (Tamil Nadu Rural Transformation Project); the scheme aligns with India's Namo Drone Didi scheme (launched December 2023) which provides drones to SHGs; India's agricultural drone market is expected to reach USD 4.8 billion by 2030; DGCA regulates agricultural drone operations in India under the Drone Rules, 2021; Tamil Nadu CM: C. Joseph Vijay; Tamil Nadu Governor: R.N. Ravi.
Daily Current Affairs 07 August 2026: Download Free PDF Now
International Current Affairs
- KKR Acquires Medicover India's Hospital Operations – KKR announced definitive agreements on 6 August 2026 to acquire Medicover India, the Indian hospital operations of Swedish healthcare and diagnostic services provider Medicover AB. The transaction values Medicover India at approximately USD 550 million. Exam importance: KKR (Kohlberg Kravis Roberts) is a leading global investment firm, headquartered in New York, USA; KKR has been one of the most active private equity investors in India's healthcare sector, with earlier investments in Max Healthcare, Radiant Life Care, and Healthium Medtech; Medicover India operates hospitals and diagnostic centres primarily in Hyderabad, Mumbai, and other major cities; India's healthcare sector is one of the world's fastest-growing, with a market size of approximately USD 372 billion (2026); FDI in healthcare in India: allowed up to 100% under automatic route; India's medical tourism sector is targeting USD 14 billion by 2028.
- China's Tiangong Space Station Crew Harvests First Orbital Rice – Chinese astronauts aboard the Tiangong space station harvested the first batch of rice grown in orbit on 5 August 2026, part of the Shenzhou-23 mission's experiments on space agriculture and food security for long-duration human spaceflight. Exam importance: The Tiangong (meaning "Heavenly Palace") space station is China's modular permanent space station, assembled from 2021-2022 and continuously crewed since; it consists of the Tianhe core module and two lab modules (Wentian and Mengtian); the space station orbits at approximately 400 km altitude; China's space programme is governed by CNSA (China National Space Administration); the rice harvest is a milestone in China's space agriculture research — a critical component for planned long-duration missions to the Moon and Mars; China plans crewed Moon landing by 2030 under the Chang'e programme.
Economy & Banking
- India's Non-Fossil Fuel Power Now 54.18% of Total Installed Capacity; AT&C Losses Drop to 15.04% in FY25 – India's total installed power capacity reached approximately 5,48,858 MW (548 GW) as of June 2026, with non-fossil fuel sources (solar, wind, hydro, nuclear) accounting for 54.18% of total installed capacity. India's Aggregate Technical and Commercial (AT&C) losses dropped significantly to 15.04% in FY25 from 21.91% in FY21. Exam importance: India's total installed power capacity exceeded 500 GW for the first time in May 2024; India targets 500 GW non-fossil fuel capacity by 2030 (NDC commitment); approximately 1,47,720 MW (147.7 GW) of renewable energy capacity is under construction; AT&C losses reflect combined transmission losses + billing/collection inefficiencies in the power distribution system; the RDSS (Revamped Distribution Sector Scheme) launched in 2021 targets AT&C losses below 12-15% by 2025; Ministry of Power: Manohar Lal Khattar; CEA (Central Electricity Authority) compiles power sector statistics; India is the world's 3rd largest producer and consumer of electricity.
- India's Lok Sabha Passes Taxation Laws (Amendment) Bill 2026 for MDR Relief and Electronics Investment – Lok Sabha passed the Taxation Laws (Amendment) Bill 2026 providing relief on digital payments (MDR-related changes) and electronics investment. Exam importance: The Bill implements amendments to the Income-tax Act, 2025 to provide: (1) tax incentives for semiconductor and electronics manufacturing investments; (2) rationalisation of TDS rates on digital payment transactions; (3) relief from the proposed MDR reintroduction on digital payments for small merchant transactions; the Bill aligns with PM Modi's vision of making India a global electronics manufacturing hub and supports the India Semiconductor Mission (ISM) — with the CG Semi OSAT facility (Sanand, Gujarat) inaugurated on 7 July 2026; Union Minister of Finance: Nirmala Sitharaman.
Science & Technology
- Arunachal Pradesh to Host Asian Rafting Championships 2026 at Boleng, Siang District – Arunachal Pradesh's Boleng in Siang district will host the Asian Rafting Championships 2026 from 5-9 October 2026, showcasing the state's world-class river rafting potential and promoting adventure tourism in the Northeast. Exam importance: Boleng is located on the banks of the Siang River (the Brahmaputra's upper course as it flows through Arunachal Pradesh); the Siang River is one of India's premier white-water rafting destinations; the Asian Rafting Championships are organised by the Asian Rafting Federation (ARF) under the International Rafting Federation (IRF); this is the first time India is hosting the Asian Rafting Championships; Arunachal Pradesh CM: Pema Khandu; AP is a biodiversity-rich state with 80%+ forest cover and is part of the Eastern Himalayan biodiversity hotspot.
- Andhra Pradesh Sets ₹9.5 Lakh Crore Investment Target for Visakhapatnam Economic Region – The Andhra Pradesh government has set an investment target of up to ₹9.5 lakh crore for the Visakhapatnam Economic Region (VER). Exam importance: The Visakhapatnam Economic Region (VER) covers approximately 3,500 sq km in the Vizag area and includes Port-based industries, aerospace and defence manufacturing (HAL Helicopter Division, DRDO DLRL), IT/ITeS (Rushikonda IT Park), petrochemicals (HPCL Vizag refinery), and pharma (Pharma City); Andhra Pradesh CM: N. Chandrababu Naidu; the investment target reflects TDP's "Sunrise Andhra Pradesh" economic vision; the new Alluri Sitarama Raju International Airport at Bhogapuram (inaugurated 1 August 2026) is a key anchor for the VER's aviation-led growth.
Appointments
- Air India Appoints Tewolde Gebremariam as CEO and MD – Air India appointed Tewolde Gebremariam as its Chief Executive Officer (CEO) and Managing Director (MD) on 5 August 2026. He will succeed Campbell Wilson, whose resignation as CEO took effect in April 2026. Exam importance: Tewolde Gebremariam is a veteran aviation executive from Ethiopia who served as CEO of Ethiopian Airlines from 2011 to 2022, transforming it into Africa's largest and most profitable airline; Air India is owned by the Tata Group (acquisition completed January 2022); Air India is India's flag carrier; IATA Code: AI; Air India chairman: N. Chandrasekaran; Air India has over 500 aircraft on order (including Boeing 787 Dreamliners, Airbus A350s, and Airbus A320neo family); India's civil aviation sector is the world's 3rd largest domestic market; DGCA regulates civil aviation in India.
Important Days
- 7 August — National Handloom Day 2026 (12th Observance) – National Handloom Day (NHD) is observed on 7 August 2026 — the 12th observance since it was first established in 2015 by PM Modi. The day commemorates the Swadeshi Movement (7 August 1905) when Indian leaders resolved to boycott British manufactured goods and promote Indian handloom textiles. Exam importance: NHD 2026 is celebrated across India with handloom exhibitions, weaver felicitation ceremonies, and fashion shows at state capitals; the 'India Handloom' Brand (launched 2015) certifies premium handloom products; India has approximately 35 lakh handloom weavers; total handloom sector revenue: approximately ₹1.05 lakh crore/year; major handloom clusters: Varanasi (UP), Kanjivaram (TN), Chanderi (MP), Sambalpuri (Odisha), Pochampally (Telangana), Phulkari (Punjab); the Handloom Reservation Act, 1985 reserves certain products exclusively for handloom production; Union Minister of Textiles: Giriraj Singh.
- 8 August — Quit India Movement Day 2026 (84th Anniversary) – India observes Quit India Movement Day on 8 August — the 84th anniversary of the launch of the Quit India Movement (Bharat Chhodo Andolan) by Mahatma Gandhi at the Bombay (Mumbai) session of the All India Congress Committee (AICC) on 8 August 1942, with the iconic slogan "Do or Die" (Karenge ya Marenge). Exam importance: The resolution was passed at the Gowalia Tank (August Kranti Maidan), Mumbai; Congress leaders including Gandhi, Nehru, and Sardar Patel were arrested the next morning (9 August 1942, Operation Zero Hour) before the planned mass mobilisation; the movement spread across India through underground networks (Aruna Asaf Ali, Jay Prakash Narayan, Ram Manohar Lohia were key leaders); August Kranti Maidan (Mumbai) is a national monument; the Quit India Movement weakened British resolve to continue colonial rule; 8 August is also known as August Kranti Diwas.
