Daily Current Affairs August 07

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August 07 | Daily Current Affairs 2026

Important Days – Daily Current Affairs August 07

1. On which date is National Handloom Day observed annually in India?
A) August 5
B) August 6
C) August 7
D) August 8
E) August 9
Answer: C) August 7.

Event and Location:

  • Event: National Handloom Day 2026 was observed to honour India’s handloom heritage and recognise the contribution of weavers and artisans.
  • Location: India.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: The annual observance commemorates the Swadeshi Movement launched on August 7, 1905, and promotes the preservation of traditional weaving practices, artisan empowerment, sustainable textiles and authentic Indian handloom products.
  • Objectives: The observance aims to recognise handloom weavers, preserve indigenous textile traditions, generate rural and semi-urban employment, support women workers, encourage sustainable fashion and promote genuine Indian handlooms among consumers.

Important Terms Explained:

  • Swadeshi Movement: A movement launched on August 7, 1905, at Calcutta Town Hall that encouraged Indians to boycott foreign goods and adopt locally produced goods, including handwoven fabrics.
  • Vocal for Local: A campaign approach that encourages consumers to support domestically produced goods and strengthens local producers, artisans and businesses.
  • National Handloom Development Programme (NHDP): A Government of India initiative for the development of the handloom sector and improvement of the livelihoods and capabilities of handloom weavers.
  • India Handloom Brand (IHB): An initiative aimed at promoting high-quality Indian handloom products and improving consumer confidence in authentic handwoven textiles.
  • Weaver MUDRA Scheme: An initiative that facilitates financial assistance and credit support for handloom weavers to meet their working-capital and business requirements.

Tabular Summary:

Parameter Details
Event name National Handloom Day 2026.
Date August 7, 2026.
Location India.
Historical connection It commemorates the Swadeshi Movement launched on August 7, 1905, at Calcutta Town Hall.
First observance National Handloom Day was first observed on August 7, 2015.
2026 theme The Ministry of Textiles had not disclosed the official theme as stated in the article.
Major purpose It honours weavers and artisans while promoting traditional weaving, sustainable textiles and authentic Indian handloom products.
Government support Key initiatives include NHDP, India Handloom Brand, Yarn Supply Scheme, Handloom Marketing Assistance and the Weaver MUDRA Scheme.

Sports – Daily Current Affairs August 07

2. How many points did R Praggnanandhaa score to win the Saint Louis Rapid & Blitz 2026 title?
A) 20.5
B) 21.5
C) 22.0
D) 23.5
E) 24.0
Answer: D) 23.5.

Event and Location:

  • Event: R Praggnanandhaa won his maiden Saint Louis Rapid & Blitz 2026 title with 23.5 points at the Grand Chess Tour event.
  • Location: Saint Louis, United States.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: Praggnanandhaa secured the championship with 23.5 points out of 36, finishing 1.5 points ahead of Javokhir Sindarov and sealing the title one round early after drawing with him in the penultimate blitz round.
  • Objectives: The tournament formed part of the 2026 Grand Chess Tour and awarded ranking points and prize money that contribute to players’ qualification prospects for the 2026 GCT Finals.

Important Terms Explained:

  • Grand Chess Tour (GCT): An international series of elite chess tournaments in which players earn points across events toward the overall tour standings and finals.
  • Rapid Chess: A form of chess played with shorter time controls than classical chess, requiring players to make decisions more quickly.
  • Blitz Chess: A very fast form of chess with significantly shorter time controls, placing greater emphasis on speed, tactical awareness and quick decision-making.
  • GCT Points: Tour points awarded to players according to their finishing positions in Grand Chess Tour events and used in determining overall standings.

Tabular Summary:

Parameter Details
Tournament Saint Louis Rapid & Blitz 2026.
Winner R Praggnanandhaa of India.
Winning score 23.5 points out of 36.
Runner-up Javokhir Sindarov of Uzbekistan with 22.0 points.
Winning margin Praggnanandhaa finished 1.5 points ahead of Sindarov.
Prize money Praggnanandhaa received $50,000 for winning the event.
GCT points earned Praggnanandhaa earned 13 Grand Chess Tour points.
Significance It was Praggnanandhaa’s first Saint Louis Rapid & Blitz title and strengthened his position in the race for the 2026 GCT Finals.

Banking and Finance – Daily Current Affairs August 07

3. How many entities are included in the Upper Layer NBFC list released by the RBI for FY 2026-27?
A) 14
B) 15
C) 16
D) 17
E) 18
Answer: D) 17.

Event and Location:

  • Event: The Reserve Bank of India expanded the Upper Layer NBFC list to 17 entities for FY 2026-27 and added REC, PFC, IRFC and HUDCO.
  • Location: India.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: Under the Scale-Based Regulation framework, the RBI classified 17 large and systemically important NBFCs in the Upper Layer for FY 2026-27 based on revised identification criteria, including an AUM threshold of at least ₹1 trillion.
  • Objectives: The revised framework aims to subject large and financially significant NBFCs to enhanced regulation and supervision in order to reduce systemic risks arising from their size, complexity and interconnectedness.

Important Terms Explained:

  • Non-Banking Financial Company (NBFC): A financial institution that provides services such as lending, investment and financing without holding a full banking licence like a conventional commercial bank.
  • Upper Layer (NBFC-UL): A regulatory category under RBI’s scale-based framework comprising large and systemically significant NBFCs that are subject to more stringent regulatory and supervisory requirements.
  • Assets Under Management (AUM): The total value of financial assets managed or held by a financial institution, used as an important measure of its scale and financial significance.
  • ₹1 Trillion AUM Criterion: The revised eligibility threshold under which NBFCs with AUM of at least ₹1 trillion, equivalent to ₹1 lakh crore, may qualify for Upper Layer classification subject to other prescribed conditions.
  • Enhanced Regulatory Framework: A stricter set of supervisory and compliance requirements applicable to NBFCs classified in the Upper Layer because of their greater systemic importance.

Tabular Summary:

Parameter Details
Regulatory authority Reserve Bank of India.
Financial year FY 2026-27.
Total Upper Layer NBFCs 17 entities.
Newly added PSUs REC Ltd., Power Finance Corporation, Indian Railway Finance Corporation and HUDCO.
Revised AUM threshold At least ₹1 trillion, equivalent to ₹1 lakh crore, subject to other identification conditions.
Prominent existing entities Bajaj Finance, Shriram Finance, LIC Housing Finance and Tata Capital are among the notable NBFCs in the list.
Tata Sons status Tata Sons remains in the Upper Layer while its application to surrender its NBFC registration continues to be examined.
Exit requirement An NBFC leaving the eligibility criteria must continue under the enhanced regulatory framework for at least five years.

Awards – Daily Current Affairs August 07

4. Which category of the Jeevan Raksha Padak was awarded to the 12 rat miners involved in the Silkyara Tunnel rescue operation?
A) Jeevan Raksha Padak
B) Uttam Jeevan Raksha Padak
C) Sarvottam Jeevan Raksha Padak
D) Shaurya Chakra
E) Kirti Chakra
Answer: C) Sarvottam Jeevan Raksha Padak.

Event and Location:

  • Event: Union Minister Nitin Gadkari awarded the Sarvottam Jeevan Raksha Padak to 12 rat miners for their extraordinary courage during the Silkyara Tunnel rescue operation.
  • Location: New Delhi, India.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: The award recognised the 12 rat miners for risking their lives and displaying exceptional courage and prompt action while helping rescue workers trapped inside the collapsed Silkyara Tunnel.
  • Objectives: The Jeevan Raksha Padak system aims to honour individuals who demonstrate courage, selflessness and quick action in saving human lives under hazardous circumstances.

Important Terms Explained:

  • Jeevan Raksha Padak: A national lifesaving award given to individuals who show courage and prompt action while rescuing people from dangers such as drowning, fire, electrocution, natural disasters, animal attacks and mining accidents.
  • Uttam Jeevan Raksha Padak: The second category of the lifesaving award, given for courage and promptness in saving a life under hazardous conditions for the rescuer.
  • Rat Mining: A manual excavation method involving workers entering narrow passages to remove debris or dig through confined spaces, which was used during the final phase of the Silkyara Tunnel rescue operation.
  • Awards Committee: The committee that examines nominations for Jeevan Raksha Padak awards, generally within two calendar years from the date of the lifesaving act.

Tabular Summary:

Parameter Details
Award Sarvottam Jeevan Raksha Padak.
Recipients 12 rat miners involved in the Silkyara Tunnel rescue operation.
Awarding minister Union Minister for Road Transport and Highways Nitin Gadkari.
Ceremony location New Delhi.
Highest category Sarvottam Jeevan Raksha Padak is the highest of the three Jeevan Raksha Padak categories.
Eligibility The award is open to individuals from all walks of life, while uniformed personnel must perform an act beyond their normal call of duty.
Monetary award Sarvottam awardees receive ₹2 lakh, Uttam awardees ₹1.5 lakh and Jeevan Raksha Padak awardees ₹1 lakh as a one-time monetary allowance.
Approval process Nominations are examined by the Awards Committee and finally approved by the Prime Minister and the President of India.

Science and Technology – Daily Current Affairs August 07

5. From which location was the Agni-4 ballistic missile successfully test-fired on August 6, 2026?
A) Pokhran, Rajasthan
B) Chandipur, Odisha
C) Sriharikota, Andhra Pradesh
D) Thumba, Kerala
E) Balasore, West Bengal
Answer: B) Chandipur, Odisha.

Event and Location:

  • Event: India successfully test-fired the Agni-4 medium-range ballistic missile, validating all operational and technical parameters.
  • Location: Integrated Test Range, Chandipur, Odisha.
  • Date: August 6, 2026.

Mandates and Objectives:

  • Mandates: The Strategic Forces Command (SFC) conducted the missile test to evaluate and validate the operational and technical performance of the domestically developed weapon system.
  • Objectives: The test aimed to verify the missile’s readiness and strengthen India’s strategic deterrence and long-range strike capabilities under its indigenous missile programme.

Important Terms Explained:

  • Medium-Range Ballistic Missile (MRBM): A category of ballistic missile designed to strike targets at medium ranges by following a ballistic trajectory after its powered flight phase.
  • Defence Research and Development Organisation (DRDO): India’s defence research organisation responsible for developing indigenous military technologies and weapon systems, including the Agni series of ballistic missiles.
  • Strategic Deterrence: A defence strategy based on maintaining credible military capabilities to discourage adversaries from launching major attacks.
  • Integrated Test Range (ITR): A missile testing facility at Chandipur in Odisha used for conducting and evaluating various missile and defence-system trials.
  • Road-Mobile Launcher: A mobile launch platform that enables a missile to be transported and fired from different locations, improving operational flexibility.

Tabular Summary:

Parameter Details
Missile name Agni-4.
Test date August 6, 2026.
Test location Integrated Test Range, Chandipur, Odisha.
Missile type Medium-Range Ballistic Missile.
Developer Defence Research and Development Organisation.
Operator Strategic Forces Command.
Launch system Road-mobile launcher.
Test significance The launch successfully validated all operational and technical parameters and reinforced India’s strategic deterrence capability.

6. When is the first uncrewed flight of the Gaganyaan Mission carrying Vyommitra targeted to be launched?
A) Q2 2026
B) Q3 2026
C) Q4 2026
D) Q1 2027
E) Q4 2027
Answer: C) Q4 2026.

Event and Location:

  • Event: India’s Gaganyaan Mission achieved major human-rating and crew-safety milestones, with its first uncrewed mission carrying Vyommitra targeted for the fourth quarter of 2026.
  • Location: India.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: The Indian Space Research Organisation is developing and validating propulsion, crew safety, life-support, avionics, thermal protection, deceleration and mission infrastructure systems required for India’s first indigenous human spaceflight programme.
  • Objectives: The mission aims to demonstrate India’s capability to send astronauts into Earth orbit and return them safely while building technologies and infrastructure for future human spaceflight missions and the Bharatiya Antariksh Station.

Important Terms Explained:

  • Vyommitra: ISRO’s half-humanoid robot that is planned to fly aboard the first uncrewed Gaganyaan mission to test spacecraft technologies and systems before astronauts are sent into space.
  • Human Rated Launch Vehicle (HLVM3): The human-rated version of the LVM3 launch vehicle designed with enhanced reliability and safety standards for carrying astronauts under the Gaganyaan programme.
  • Environmental Control and Life Support System (ECLSS): A spacecraft system designed to maintain a safe and habitable environment for astronauts by managing parameters such as air quality, temperature and life-support requirements.
  • Crew Escape System (CES): An emergency safety system designed to rapidly separate the crew module from the launch vehicle in case of a serious malfunction during the early stages of flight.
  • Bharatiya Antariksh Station (BAS): India’s planned indigenous space station, expected to become operational by 2035 and intended to support scientific research and long-duration human spaceflight activities.
  • TV-D1 Test Vehicle Mission: A test mission that successfully demonstrated the in-flight performance of the Gaganyaan Crew Escape System.

Tabular Summary:

Parameter Details
Mission name Gaganyaan Mission.
Implementing organisation Indian Space Research Organisation.
First uncrewed mission The first uncrewed flight carrying Vyommitra is targeted for Q4 2026.
Subsequent missions Two additional uncrewed missions are planned for 2027 before the first Indian crewed orbital mission.
Major safety achievement All five Crew Escape System motors have been developed and static tested, while TV-D1 validated the system in flight.
Key infrastructure Facilities include the Gaganyaan Control Centre, Crew Training Facility, orbital module preparation facility and enhanced Second Launch Pad.
Space station target Bharatiya Antariksh Station is planned to become operational by 2035 and will comprise five modules.
Approved funding The Union Cabinet sanctioned ₹20,193 crore in September 2024 for eight missions under India’s Human Spaceflight Programme.

Defence – Daily Current Affairs August 07

7. Who became the first Indian woman fighter pilot to complete the Fighter Combat Leader (FCL) course at TACDE?
A) Avani Chaturvedi
B) Mohana Singh
C) Bhawana Kanth
D) Shivangi Singh
E) Punita Arora
Answer: C) Bhawana Kanth.

Event and Location:

  • Event: Squadron Leader Bhawana Kanth became the first woman fighter pilot of the Indian Air Force to successfully complete the Fighter Combat Leader course.
  • Location: Tactics and Air Combat Development Establishment, Gwalior.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: The 20-week advanced combat training course prepares selected fighter pilots in advanced air-combat tactics, mission planning, combat leadership, tactical decision-making and coordination of complex air operations.
  • Objectives: The course aims to develop highly trained combat tacticians capable of assuming greater responsibility in planning, leading and conducting complex fighter operations.

Important Terms Explained:

  • Tactics and Air Combat Development Establishment (TACDE): A premier Indian Air Force establishment at Gwalior that provides advanced operational and tactical air-combat training to selected fighter pilots.
  • Indian Air Force (IAF): The air arm of India’s armed forces responsible for defending Indian airspace and conducting aerial warfare and related military operations.
  • Combat Leadership: The ability to plan, coordinate and lead complex operational missions while making tactical decisions in demanding combat environments.
  • Air-Combat Tactics: Specialised techniques and strategies used by fighter pilots to conduct offensive and defensive operations during aerial combat.

Tabular Summary:

Parameter Details
Officer Squadron Leader Bhawana Kanth.
Latest achievement She became the first woman fighter pilot in the IAF to complete the Fighter Combat Leader course.
Training establishment TACDE, Gwalior.
Course duration Approximately 20 weeks.
IAF induction She joined the fighter stream of the IAF in June 2016.
Historic batch She was among the first three women fighter pilots inducted alongside Avani Chaturvedi and Mohana Singh.
Earlier milestone In 2019, she became the first Indian woman authorised to conduct daytime fighter combat operations.
Training focus The course covers advanced air-combat tactics, mission planning, tactical decision-making, combat leadership and complex air operations.

Schemes – Daily Current Affairs August 07

8. What is the total allocation approved by the Union Cabinet for the GOBARdhan Scheme?
A) ₹18,500 crore
B) ₹20,731 crore
C) ₹21,500 crore
D) ₹23,731 crore
E) ₹25,000 crore
Answer: D) ₹23,731 crore.

Event and Location:

  • Event: The Union Cabinet approved the GOBARdhan (Galvanizing Organic Bio-Agro Resources Dhan) – National Circular Bioenergy Scheme with an allocation of ₹23,731 crore.
  • Location: India.
  • Date: August 6, 2026.

Mandates and Objectives:

  • Mandates: The scheme will convert agricultural residue, cattle dung, urban organic waste, press mud and other biomass into Compressed Biogas, organic manure and additional rural income while supporting CBG production, transportation, financing and market development.
  • Objectives: The scheme aims to increase domestic CBG production nearly tenfold, reduce dependence on imported natural gas and other fossil fuels, improve scientific waste management, create rural employment, attract private investment and support India’s climate and circular-economy goals.

Important Terms Explained:

  • Compressed Biogas (CBG): A purified form of biogas produced from organic waste and biomass that can be compressed and used as a renewable gaseous fuel.
  • Circular Bioeconomy: An economic model that converts biological resources and organic waste into reusable products such as clean energy and organic manure while reducing waste generation.
  • City Gas Distribution (CGD): A network-based system used to distribute natural gas and similar gaseous fuels to domestic, commercial, industrial and transport consumers within specified geographical areas.
  • Metric Million British Thermal Unit (MMBTU): A unit used to measure the energy content of fuels such as natural gas and biogas, with the scheme setting a price cap of ₹2,110 per MMBTU.
  • Credit Guarantee Scheme: A financing support mechanism designed to improve access to institutional credit for MSMEs undertaking CBG projects by reducing collateral-related barriers.
  • SATAT: Sustainable Alternative Towards Affordable Transportation is an initiative supporting the development and use of CBG as an alternative transport fuel in India.

Tabular Summary:

Parameter Details
Scheme name GOBARdhan – National Circular Bioenergy Scheme.
Cabinet approval date August 6, 2026.
Total allocation ₹23,731 crore.
Implementation period FY 2026-27 to FY 2035-36.
Nodal ministry Ministry of Petroleum and Natural Gas.
CBG blending targets 3% in FY 2026-27, 4% in FY 2027-28 and 5% from FY 2028-29 onwards.
Financial support Up to ₹2 crore per TPD of installed CBG capacity for eligible projects.
Major significance The scheme seeks to strengthen energy security, promote waste-to-wealth, support rural incomes and expand India’s clean-energy infrastructure.

National Affairs – Daily Current Affairs August 07

9. Which legislation passed by the Lok Sabha in 2026 provides a framework for possible charges on certain UPI and other notified digital payment transactions?
A) Digital Payments Regulation Bill 2026
B) Payment Systems Reform Bill 2026
C) Taxation and Other Laws (Amendment) Bill 2026
D) UPI Regulation Bill 2026
E) Digital Banking Amendment Bill 2026
Answer: C) Taxation and Other Laws (Amendment) Bill 2026.

Event and Location:

  • Event: The Lok Sabha passed the Taxation and Other Laws (Amendment) Bill, 2026, enabling the government to prescribe charges for certain UPI and other notified digital payment transactions.
  • Location: India.
  • Date: August 7, 2026.

Mandates and Objectives:

  • Mandates: The Bill amends provisions related to digital payments under the Payment and Settlement Systems Act, 2007, allowing the Central Government to specify which payment systems or transaction categories may remain free and which may be subject to charges through future notifications.
  • Objectives: The framework aims to allow regulated recovery of payment-processing costs while enabling the government to protect consumers, exempt selected transactions and support the continued expansion of digital payments.

Important Terms Explained:

  • Unified Payments Interface (UPI): A real-time digital payment system that enables instant transfer of funds between bank accounts through supported applications.
  • Merchant Discount Rate (MDR): A fee associated with processing merchant payments that may be charged to businesses or merchants, depending on applicable regulations.
  • Reserve Bank of India (RBI): India’s central bank, which regulates payment systems and will continue to oversee compliance with rules governing digital payment transactions.
  • Payment Service Provider: An entity that facilitates digital payment transactions by providing the technological and operational infrastructure required for payment processing.
  • Person-to-Person Transaction: A digital fund transfer made directly between individuals, such as payments between friends or family members.

Tabular Summary:

Parameter Details
Legislation Taxation and Other Laws (Amendment) Bill, 2026.
Passed by Lok Sabha.
Relevant law amended Payment and Settlement Systems Act, 2007.
Immediate impact The Bill does not immediately impose charges on all UPI transactions.
Charging mechanism Charges may apply only to transaction categories specified through future government notifications and rules.
Regulatory authority The Reserve Bank of India will continue regulating payment systems and enforcing applicable rules.
July 2026 UPI volume 23.66 billion transactions with a total value of ₹29.88 lakh crore.
Likely impact Large commercial or merchant transactions may face charges if notified, while personal transfers are expected to remain free according to the article.

10. Which state launched the application process for the Nijut Moina and Nijut Babu schemes in August 2026?
A) Assam
B) Odisha
C) Bihar
D) Meghalaya
E) Tripura
Answer: A) Assam.

Event and Location:

  • Event: The Assam government launched the application form distribution process for the Nijut Moina and Nijut Babu student financial assistance schemes.
  • Location: Guwahati, Assam.
  • Date: August 6, 2026.

Mandates and Objectives:

  • Mandates: The Mukhya Mantrir Nijut Moina Scheme provides financial assistance primarily to girl students pursuing higher education, while the Nijut Babu Scheme extends financial support to eligible boys studying at higher secondary, undergraduate and postgraduate levels.
  • Objectives: The schemes aim to reduce the financial burden of education, encourage students to continue higher studies, and, in the case of Nijut Moina, help prevent child marriage by supporting girls to remain in education.

Important Terms Explained:

  • Polytechnic Courses: Technical and vocational programmes generally focused on practical and industry-oriented education, whose eligible girl students have been brought under the expanded Nijut Moina coverage in 2026.
  • Integrated Postgraduate Course: A continuous academic programme combining undergraduate and postgraduate study, with students in the seventh semester becoming eligible under the expanded Nijut Moina scheme.
  • Chief Minister’s Relief Fund (CMRF): A state-level relief fund used to provide financial assistance during emergencies and disasters, including support for students affected by floods.
  • Financial Assistance: Direct monetary support provided to eligible students to help reduce education-related expenses and encourage continuation of studies.

Tabular Summary:

Parameter Details
Schemes Nijut Moina and Nijut Babu.
Application launch date August 6, 2026.
Launch location Guwahati, Assam.
Launched by Assam Chief Minister Himanta Biswa Sarma.
Nijut Moina focus It supports girl students financially and also seeks to discourage child marriage by encouraging continued education.
Expanded eligibility Eligible polytechnic students and seventh-semester integrated postgraduate students have been included under Nijut Moina in 2026.
Nijut Babu beneficiaries About 50,000 boys benefited last year, and another 70,000 are planned to be added, taking the total to about 1.2 lakh.
Flood assistance Assam released ₹15.86 crore for 793 flood-affected schools and ₹4.26 crore from the CMRF for 21,025 students.

Over All Review

Important Days

  • National Handloom Day is observed every year in India on August 7.

Sports

  • R Praggnanandhaa won the Saint Louis Rapid & Blitz 2026 with a total score of 23.5 points.

Banking and Finance

  • The RBI classified 17 NBFCs in the Upper Layer for FY 2026-27.

Awards

  • Twelve rat miners were honoured for their role in the Silkyara Tunnel rescue operation.

Science and Technology

  • India successfully test-fired the Agni-4 missile from Chandipur, Odisha, on August 6, 2026.
  • The Gaganyaan Mission is India’s first indigenous human spaceflight programme being developed by ISRO.

Defence

  • Squadron Leader Bhawana Kanth belongs to Darbhanga district of Bihar and is an engineering graduate.

Schemes

  • The Union Cabinet approved the ₹23,731 crore GOBARdhan – National Circular Bioenergy Scheme on August 6, 2026.

National Affairs

  • The Lok Sabha passed the Taxation and Other Laws (Amendment) Bill, 2026, concerning possible charges on certain digital payments.
  • The Assam government launched the application process for Nijut Moina and Nijut Babu in Guwahati on August 6, 2026.

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