Current Affairs 01 August 2026

Favara-UPI Cross-Border Payment Corridor

The Favara-UPI Cross-Border Payment Corridor between the Maldives and India became operational on July 30, 2026. It integrates Favara, the Maldives’ instant payment system, with India’s Unified Payments Interface (UPI), enabling real-time digital remittances from the Maldives to UPI-enabled bank accounts in India.

Transactions may be initiated in Maldivian Rufiyaa or US dollars, while recipients receive the amount in Indian rupees. Customers are subject to a limit of up to ₹24,000 per month through each participating bank, although banks may impose lower limits.

Odisha Floods Affect Over Seven Lakh People Across 20 Districts

More than seven lakh people across 20 districts of Odisha were affected by floods and heavy rainfall associated with a deep depression in late July 2026. The weather system moved across north Odisha towards neighbouring Jharkhand and Chhattisgarh, producing widespread heavy to very heavy rainfall.

Odisha received 644.1 millimetres of cumulative rainfall between July 1 and 30, compared with the normal rainfall of 327.4 mm. This represented a rainfall surplus of 96.7%. Flooding was reported in the Mahanadi, Brahmani, and other river systems, while embankment breaches caused inundation in several areas.

MSME Development (Amendment) Bill, 2026

The Micro, Small, and Medium Enterprises Development (Amendment) Bill, 2026, was introduced in the Rajya Sabha on July 28, 2026. It seeks to amend the Micro, Small, and Medium Enterprises Development Act, 2006, which provides the legal framework for promoting and developing Micro, Small, and Medium Enterprises (MSMEs). As of August 1, 2026, it remains a Bill and has not become law.

The Bill proposes that MSMEs be classified based on both investment in plant, machinery, or equipment and annual turnover. Instead of retaining fixed classification limits in the Act, it empowers the Central Government to prescribe the thresholds through notification. Filing an enterprise memorandum will become voluntary for all MSMEs and may be completed through digital platforms notified by the Central or State governments.

Registration of Births and Deaths (Amendment) Bill, 2026

The Registration of Births and Deaths (Amendment) Bill, 2026, was introduced in the Lok Sabha on July 29, 2026, to amend the Registration of Births and Deaths Act, 1969. The Lok Sabha subsequently passed the Bill on July 31, 2026. It remains pending in Parliament and has not yet become law.

The Bill introduces a graded procedure for registering births and deaths reported after a substantial delay. When information is provided after one year but within two years of the event, registration may be permitted through an order issued by the District Magistrate, Sub-Divisional Magistrate or an Executive Magistrate authorised by the District Magistrate.

However, when a birth or death is reported more than two years after its occurrence, it may be registered only on the order of a Judicial Magistrate of the First Class (JMFC) having jurisdiction over the area where the event occurred. The Magistrate must verify the correctness of the birth or death, and the prescribed fee must be paid.

Under the existing Act, delayed registration after one year may be authorised by specified executive magistrates. The Bill, therefore, shifts the authority to a judicial magistrate for delays exceeding two years. The stated objective is to make delayed-registration provisions more stringent and encourage timely reporting of births and deaths.

Samudra Manthan Scheme

The Union Cabinet approved ‘Samudra Manthan, ’ the National Offshore Exploration Scheme, on July 31, 2026. It is a Central Sector Scheme of the Ministry of Petroleum and Natural Gas, with an approved outlay of ₹84,084 crore for implementation up to the financial year 2030–31.

The scheme aims to extract India’s offshore oil and natural-gas potential, increase domestic energy production, and reduce dependence on energy imports. It will support large-scale acquisition, processing, and interpretation of seismic data, along with accelerated exploratory drilling in deepwater, ultra-deepwater, and frontier offshore basins.

PM-KISAN Scheme

The Union Cabinet approved the continuation of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme from 2026–27 to 2030–31 with a total financial outlay of ₹3.15 lakh crore. The scheme provides income support to eligible landholding farmer families through the Direct Benefit Transfer system.

PM-KISAN was launched in February 2019. Under the scheme, eligible farmer families receive ₹6,000 per year in three equal instalments of ₹2,000 each. The amount is transferred directly to beneficiaries’ bank accounts using Aadhaar authentication and digital verification.

PM Surya Sarovar Yojana

The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) on July 31, 2026, with a total outlay of ₹5,070 crore. The scheme aims to develop Floating Solar Photovoltaic projects integrated with Energy Storage Systems across reservoirs and other suitable inland waterbodies.

PM-SSY aims to develop 5,000 MW of floating solar capacity with co-located energy storage systems. These systems must provide a minimum storage duration of two hours. Projects will be sanctioned from 2026–27 to 2030–31, while financial assistance may be disbursed up to 2032–33.

The National Institute of Solar Energy has estimated India’s floating solar potential at approximately 102.18 GWp. Under the scheme, eligible projects will receive Central Financial Assistance of ₹1 crore per MW after successful commissioning.

Floating solar projects utilise reservoirs and industrial ponds, reducing competition for scarce land. The addition of energy-storage systems will support grid reliability by storing electricity generated during periods of high solar production and supplying it when required.

Khelo India Scheme

The Union Cabinet approved the expanded Khelo India Scheme and enhanced Assistance to National Sports Federations (ANSF) for the period 2026–27 to 2030–31. The two programmes have a combined financial outlay of ₹36,441 crore, nearly eight times the allocation of the previous Khelo India Scheme.

Ajinkya Rahane Retires from All Formats of Cricket

Former Indian cricket captain Ajinkya Rahane announced his retirement from international cricket and all formats of the game on July 30, 2026, ending a career known for resilient batting in difficult overseas conditions. Rahane captained India in six Tests, recording four victories and two draws without suffering a defeat.

Judoka Harsh Singh won a gold medal in Judo

Harsh Singh won a historic gold medal in the men’s 60kg event at the 2026 Commonwealth Games in Glasgow on 31 July 2026, becoming the first-ever Indian male judoka to achieve this milestone.

Asmita Dey Becomes First Indian Judoka to Win Commonwealth Games Gold

Indian judoka Asmita Dey won the gold medal in the women’s 48 kg category at the 2026 Commonwealth Games in Glasgow, Scotland, on July 31, 2026. With this victory, she became the first Indian judoka to win a gold medal at the Commonwealth Games.

Seema Kaliramna Wins Commonwealth Games Discus Throw Bronze

Indian athlete Seema Kaliramna won the bronze medal in the women’s discus throw at the 2026 Commonwealth Games in Glasgow, Scotland. The bronze was Seema Kaliramna’s first major international medal. The 27-year-old athlete is also a PhD scholar and mother of a four-year-old child.

Q1. Under the Micro, Small and Medium Enterprises Development (Amendment) Bill, 2026, Central Public Sector Enterprises must settle invoices for purchases from MSMEs through which platform?
A. Government e-Marketplace
B. Trade Receivables Discounting System
C. Public Financial Management System
D. National Single Window System

Q2. Under the Registration of Births and Deaths (Amendment) Bill, 2026, whose order will be required to register a birth or death reported more than two years after its occurrence?
A. District Magistrate
B. Sub-Divisional Magistrate
C. Judicial Magistrate of the First Class
D. Registrar General of India

Q3. More than seven lakh people across 20 districts were affected by severe floods and excess rainfall in July 2026 in which State?
A. Odisha
B. West Bengal
C. Bihar
D. Assam

Q4. Who among the following announced his retirement from international cricket and all formats of the game in July 2026?
A. Ajinkya Rahane
B. Cheteshwar Pujara
C. Ravichandran Ashwin
D. Shikhar Dhawan

Q5. Who became the first Indian judoka to win a gold medal at the Commonwealth Games?
A. Tulika Maan
B. Asmita Dey
C. Sushila Devi Likmabam
D. Yamini Mourya

Q6. Who became the first Indian male judoka to win a gold medal at the Commonwealth Games?
A. Harsh Singh
B. Vijay Kumar Yadav
C. Avtar Singh
D. Jasleen Singh Saini

Q7. Who among the following won the bronze medal in the women’s discus throw at the 2026 Commonwealth Games?
A. Seema Kaliramna
B. Nidhi Rani
C. Kamalpreet Kaur
D. Annu Rani

Q8. The Union Cabinet approved the ‘Samudra Manthan’ National Offshore Exploration Scheme with what financial outlay?
A. ₹40,077 crore
B. ₹63,500 crore
C. ₹84,084 crore
D. ₹1,20,000 crore

Q9. The Union Cabinet approved the continuation of the PM-KISAN Scheme from 2026–27 to 2030–31 with what financial outlay?
A. ₹1.75 lakh crore
B. ₹2.50 lakh crore
C. ₹3.15 lakh crore
D. ₹4.47 lakh crore

Q10. What is the total financial outlay approved for the Pradhan Mantri Surya Sarovar Yojana?
A. ₹3,150 crore
B. ₹4,500 crore
C. ₹5,070 crore
D. ₹10,000 crore

Q11. ‘Favara’, which was integrated with India’s UPI for real-time cross-border payments in July 2026, is the instant payment system of which country?
A. Mauritius
B. Maldives
C. Malaysia
D. Myanmar

Q12. What is the combined financial outlay approved for the expanded Khelo India Scheme and enhanced Assistance to National Sports Federations for 2026–27 to 2030–31?
A. ₹18,250 crore
B. ₹24,500 crore
C. ₹36,441 crore
D. ₹44,791 crore