Daily Current Affairs August 05

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs August 05. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

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August 05 | Daily Current Affairs 2026

Obituary – Daily Current Affairs August 05

1. Veteran actor Pradeep Rawat, known for films such as Lagaan, Sarfarosh and Ghajini, passed away at what age?
A) 70 years
B) 72 years
C) 74 years
D) 76 years
E) 78 years
Answer: C) 74 years.

Event and Location:

• Event: Veteran actor Pradeep Rawat passed away at the age of 74 after battling cancer, ending a film career spanning more than four decades.
• Location: He had been undergoing treatment in Mumbai and had worked across multiple Indian film industries.
• Date: Pradeep Rawat passed away on August 4, 2026.

Mandates and Objectives:

• Mandates: The development concerns the death of veteran actor Pradeep Rawat, who was known for prominent character and villain roles in Hindi, Telugu, Tamil and other regional-language films.
• Objectives: The news highlights his contribution to Indian cinema and television, including notable performances in Sarfarosh, Lagaan, Ghajini and the television series Mahabharat.

Important Terms Explained:

• Blood Cancer: Blood cancer refers to cancers affecting blood-forming tissues, including the bone marrow and lymphatic system, and can interfere with the normal production and functioning of blood cells.
• Mahabharat: Mahabharat was a popular television adaptation produced by B. R. Chopra, in which Pradeep Rawat gained nationwide recognition for portraying Ashwatthama.
• Filmfare Award for Best Villain – Telugu: It is an award category associated with recognition of notable performances in negative roles in Telugu cinema, which Rawat received for his performance in Sye.

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Banking and Finance – Daily Current Affairs August 05

2. What repo rate did the Reserve Bank of India (RBI) retain in its August 2026 monetary policy?
A) 4.75%
B) 5.00%
C) 5.25%
D) 5.50%
E) 5.75%
Answer: C) 5.25%.

Event and Location:

• Event: The RBI announced its August 2026 monetary policy after the 62nd meeting of the Monetary Policy Committee (MPC) and kept the repo rate unchanged at 5.25%.
• Location: India.
• Date: The monetary policy was announced on August 5, 2026, after the MPC meeting held from August 3 to 5, 2026.

Mandates and Objectives:

• Mandates: The MPC unanimously retained the repo rate at 5.25%, the Standing Deposit Facility (SDF) at 5.00%, the Marginal Standing Facility (MSF) at 5.50%, the Bank Rate at 5.50%, and maintained a Neutral policy stance.
• Objectives: The policy seeks to balance inflation management with economic growth while preserving flexibility to respond to evolving domestic inflation trends, global uncertainties and supply-side risks.

Important Terms Explained:

• Repo Rate: The repo rate is the interest rate at which the RBI lends short-term funds to commercial banks against eligible securities under the liquidity adjustment framework.
• Neutral Monetary Policy Stance: A neutral stance allows the RBI flexibility to either raise or reduce policy rates depending on future inflation and growth conditions.
• Consumer Price Index (CPI) Inflation: CPI inflation measures changes in the retail prices of a basket of goods and services consumed by households and is a key indicator used for monetary policy assessment.

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3. What Merchant Discount Rate has been proposed for qualifying UPI transactions under the government’s proposed framework?
A) 0.25%
B) 0.35%
C) 0.50%
D) 0.75%
E) 1.00%
Answer: C) 0.50%.

Event and Location:

• Event: The Ministry of Finance proposed changes to the Payment and Settlement Systems Act, 2007, that could allow the reintroduction of Merchant Discount Rate (MDR) on select UPI transactions.
• Location: India.
• Date: The proposal was announced on August 3, 2026.

Mandates and Objectives:

• Mandates: The proposed amendment seeks to remove the mandatory zero-MDR provision under Section 10A for specified digital payment transactions, potentially allowing banks and payment service providers to levy MDR on eligible transactions involving large merchants.
• Objectives: The proposal aims to improve the long-term financial sustainability of India’s digital payment ecosystem while seeking to protect consumers and smaller merchants from additional payment-processing charges.

Important Terms Explained:

• Merchant Discount Rate: MDR is the fee paid by a merchant to banks or payment service providers for processing electronic transactions and is generally calculated as a percentage of the transaction value.
• Unified Payments Interface (UPI): UPI is a real-time digital payment system that enables instant bank-to-bank transfers through participating applications and financial institutions.
• Section 10A: Section 10A of the Payment and Settlement Systems Act provides for zero charges on certain prescribed electronic modes of payment, including specified digital transactions.
• RuPay: RuPay is an Indian card payment network that facilitates debit, credit and prepaid card transactions through the domestic payments ecosystem.

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4. Which law does the Bankers’ Books Evidence Bill, 2026 seek to repeal and replace?
A) Banking Regulation Act, 1949
B) Reserve Bank of India Act, 1934
C) Bankers’ Books Evidence Act, 1891
D) Information Technology Act, 2000
E) Payment and Settlement Systems Act, 2007
Answer: C) Bankers’ Books Evidence Act, 1891.

Event and Location:

• Event: The Bankers’ Books Evidence Bill, 2026 was introduced in the Lok Sabha to modernise the legal framework governing the use of banking records as evidence in courts.
• Location: India.
• Date: The Bill was introduced in the Lok Sabha on August 3, 2026.

Mandates and Objectives:

• Mandates: The Bill proposes to repeal the 1891 law, legally recognise electronic banking records, define conditions for their authenticity, protect bank officers from unnecessary court appearances and clarify when original banking records may be demanded.
• Objectives: The legislation aims to align banking evidence laws with digital banking practices, simplify judicial procedures, promote paperless record-keeping and strengthen the legal reliability of electronic financial records.

Important Terms Explained:

• Bankers’ Books Evidence Bill, 2026: It is proposed legislation by the Ministry of Finance that seeks to replace the century-old law governing the admissibility of banking records in legal proceedings and explicitly recognise electronic records.
• Electronic Banking Records: These are digitally stored banking entries, documents or transactional records that may be admitted as legal evidence when their authenticity, accuracy and integrity are established.
• Special Cause: It refers to exceptional circumstances in which a court may require original banking records, such as doubts about authenticity, disruption of record-keeping or non-compliance with a court inspection order.
• Core Banking System: It is a centralised banking technology platform that allows customers to access banking services and conduct transactions across interconnected branches and digital channels.

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Science and Technology – Daily Current Affairs August 05

5. Which institution developed India’s first indigenous vaccine against African Swine Fever?
A) ICMR
B) ICAR
C) CSIR
D) DBT
E) DRDO
Answer: B) ICAR.

Event and Location:

• Event: The Indian Council of Agricultural Research developed India’s first indigenous vaccine against African Swine Fever for protecting domestic pigs.
• Location: The vaccine was developed at ICAR–National Institute of High Security Animal Diseases, Bhopal, Madhya Pradesh.
• Date: The vaccine was officially launched on ICAR Foundation Day 2026.

Mandates and Objectives:

• Mandates: Union Agriculture Minister Shivraj Singh Chouhan launched the indigenously developed live attenuated vaccine created using the MA-104 cell line to combat African Swine Fever in pigs.
• Objectives: The vaccine aims to reduce pig mortality, strengthen livestock biosecurity, protect the livelihoods of pig farmers, particularly in North-Eastern India, and promote self-reliance in veterinary vaccine production.

Important Terms Explained:

• African Swine Fever (ASF): ASF is a highly contagious viral disease affecting domestic and wild pigs that can cause severe illness and mortality rates of up to 100%, but it does not infect humans.
• Live Attenuated Vaccine: A live attenuated vaccine uses a weakened form of a disease-causing virus to stimulate protective immunity without causing the full severity of the disease.
• Biosecurity: Biosecurity refers to preventive measures designed to reduce the introduction, transmission and spread of infectious diseases among animals.
• MA-104 Cell Line: MA-104 is a laboratory cell line used for growing viruses and supporting vaccine research and production under controlled conditions.

Tabular Summary:

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6. Which regulatory body launched the revamped TRAI MyCall app to improve monitoring of voice call quality?
A) DoT
B) TRAI
C) MeitY
D) C-DOT
E) BSNL
Answer: B) TRAI.

Event and Location:

• Event: The Telecom Regulatory Authority of India launched a revamped version of the TRAI MyCall app to enable users to rate voice call quality and report network-related issues in real time.
• Location: India.
• Date: The revamped application was introduced on August 3, 2026.

Mandates and Objectives:

• Mandates: The revised application enables telecom users to provide anonymous call-quality feedback, report specific call problems, access post-call feedback options, view feedback history and use network coverage-testing features.
• Objectives: The initiative aims to combine technical Quality of Service (QoS) data with users’ Quality of Experience (QoE) feedback to improve telecom services, support faster identification of network problems and strengthen evidence-based regulatory oversight.

Important Terms Explained:

• Quality of Service (QoS): QoS refers to measurable technical parameters used to assess the performance and reliability of telecom networks and services.
• Quality of Experience (QoE): QoE refers to the user’s overall perception and experience of telecom service quality, including voice-call clarity and network performance.
• Telecom Service Provider (TSP): A TSP is a company or operator that provides telecommunications services such as mobile connectivity, voice calling and related network services to consumers.

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National Affairs – Daily Current Affairs August 05

7. How much supplementary budget did the Uttar Pradesh government present for the financial year 2026-27?
A) ₹47,778.57 crore
B) ₹59,019.54 crore
C) ₹41,620.04 crore
D) ₹17,399.50 crore
E) ₹11,240.97 crore
Answer: B) ₹59,019.54 crore.

Event and Location:

• Event: The Uttar Pradesh government presented a ₹59,019.54 crore supplementary budget for 2026-27 with a major emphasis on infrastructure, industrial development and welfare initiatives.
• Location: Uttar Pradesh, India.
• Date: The supplementary budget was reported on August 5, 2026.

Mandates and Objectives:

• Mandates: Uttar Pradesh Finance Minister Suresh Kumar Khanna presented additional financial provisions for infrastructure, industries, rural development, energy, agriculture, healthcare and education in the Uttar Pradesh Assembly.
• Objectives: The supplementary budget aims to accelerate capital expenditure, create long-term infrastructure assets, support employment generation and strengthen the state’s overall development programme.

Important Terms Explained:

• Supplementary Budget: A supplementary budget provides additional expenditure beyond allocations approved in the original annual budget when extra funds are required during a financial year.
• Capital Expenditure: Capital expenditure refers to government spending on creating or improving long-term assets such as roads, industrial infrastructure, hospitals, educational institutions and public utilities.
• Revenue Expenditure: Revenue expenditure refers mainly to recurring government expenses that generally do not result in the creation of long-term assets, including operational and administrative spending.

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8. Which institution has been directed by the Supreme Court to formulate a standard operating procedure for handling mule accounts used in cybercrime?
A) SEBI
B) RBI
C) I4C
D) MeitY
E) CBI
Answer: B) RBI.

Event and Location:

• Event: The Supreme Court of India issued fresh directions to strengthen cybercrime investigations, curb digital arrest scams, improve victim grievance redressal and accelerate recovery of fraudulently transferred money.
• Location: India.
• Date: The Supreme Court’s directions were reported on August 5, 2026.

Mandates and Objectives:

• Mandates: The Supreme Court directed the Reserve Bank of India to prepare an SOP for mule accounts within four weeks, ordered wider implementation of the e-Zero FIR system and cyber grievance modules, and sought examination of technological safeguards against digital arrest frauds.
• Objectives: The measures aim to strengthen cybercrime prevention and investigation, standardise the handling of fraudulent bank accounts, speed up restoration of victims’ money and improve coordination among banks, states, law enforcement agencies and technology platforms.

Important Terms Explained:

• Digital Arrest Scam: It is a cyber fraud in which criminals impersonate police officers, investigative agencies, judges or other officials and psychologically coerce victims, often through prolonged video calls, into transferring money.
• Mule Account: A mule account is a bank account used to receive, transfer or launder funds generated through cyber fraud or other illegal financial activities.
• e-Zero FIR: It is a technology-enabled mechanism intended to facilitate rapid registration and processing of cybercrime complaints without being restricted by the place where the offence occurred.
• Cyber Fraud Grievance Redressal Module: It is a mechanism developed under the Ministry of Home Affairs’ SOP to streamline handling, investigation and resolution of cyber fraud complaints.
• Money Restoration Module: It is a system designed to support quicker restoration of money frozen or traced in cyber financial fraud cases to eligible victims.

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9. On which river is the Srisailam Project constructed?
A) Godavari
B) Krishna
C) Cauvery
D) Tungabhadra
E) Pennar
Answer: B) Krishna.

Event and Location:

• Event: The Neelam Sanjeeva Reddy Srisailam Project is a major multipurpose river valley project supporting hydropower generation, irrigation, drinking water supply, flood control and water-resource management.
• Location: The project is situated on the Krishna River in the Nallamala Hills along the Andhra Pradesh-Telangana border, near Srisailam.
• Date: Construction commenced in 1960, the main dam was completed on July 26, 1980, and the project was inaugurated in 1981.

Mandates and Objectives:

• Mandates: The project stores and regulates Krishna River water through a large reservoir, hydropower stations, canal systems and associated water-transfer projects serving Andhra Pradesh and Telangana.
• Objectives: It aims to generate renewable hydroelectricity, provide irrigation and drinking water, support drought management, regulate floods and strengthen regional water security.

Important Terms Explained:

• Multipurpose River Valley Project: It is a water-resource project designed to perform several functions such as irrigation, power generation, drinking water supply, flood management and water storage.
• Hydroelectric Power: It is renewable electricity generated by using the energy of flowing or falling water to drive turbines.
• Live Storage Capacity: It refers to the usable quantity of water stored in a reservoir between its minimum operating level and full reservoir level, with Srisailam having a stated live storage capacity of about 178.74 TMC ft.
• Telugu Ganga Project: It is an inter-basin water-transfer project associated with Srisailam that helps convey Krishna River water towards water-scarce regions, including for drinking water supply to Chennai.

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10. What is the main objective of the Foreign Contribution (Regulation) Amendment Bill, 2026?
A) To abolish foreign donations
B) To regulate foreign contributions more strictly
C) To remove NGO registration requirements
D) To permit unrestricted foreign funding
E) To transfer all NGO assets to states
Answer: B) To regulate foreign contributions more strictly.

Event and Location:

• Event: The Government of India introduced the Foreign Contribution (Regulation) Amendment Bill, 2026 in the Lok Sabha to strengthen regulation of foreign contributions received by individuals, organisations and NGOs.
• Location: India.
• Date: The Bill was introduced during the 2026 parliamentary session and was reported on August 5, 2026.

Mandates and Objectives:

• Mandates: The Bill proposes stricter rules for management of foreign-funded assets, automatic cessation of registration in specified cases, time-bound utilisation of funds, restrictions on asset transfers during suspension, prior Central Government approval for investigations and revised penalties.
• Objectives: The Bill aims to improve transparency, accountability and compliance in the use of foreign contributions, prevent misuse or diversion of foreign funds and strengthen oversight of organisations receiving foreign donations.

Important Terms Explained:

• Foreign Contribution Regulation: It refers to the legal framework governing the acceptance and utilisation of foreign donations or contributions by eligible individuals, associations and organisations in India.
• Designated Authority: It is the authority proposed under the Bill to manage foreign-funded assets and funds when an organisation’s registration is cancelled, expires, is surrendered or its renewal is rejected.
• Automatic Cessation of Registration: It means that an organisation’s registration would automatically end upon expiry, non-renewal or rejection of renewal without requiring a separate termination process.
• Key Functionary: Under the proposed framework, the term covers persons responsible for management or control, including directors, trustees, partners, karta of a Hindu Undivided Family and office bearers.

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Over All Review

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