CURRENT AFFAIRS

The Lok Sabha has passed the Bankers’ Books Evidence Bill, 2026, replacing the 135-year-old Bankers’ Books Evidence Act, 1891. 

The Lok Sabha has passed the Taxation and Other Laws (Amendment) Bill, 2026, replacing the June 5, 2026 Ordinance. The Bill amends the Payment and Settlement Systems Act, 2007, the Income Tax Act, 2025, and the Finance Act, 2026.

The Union Cabinet on 31 July 2026 approved the Pradhan Mantri Surya Sarovar Yojana (PM-SSY) to accelerate the development of floating solar power projects in India. The scheme aims to install 5,000 MW of floating solar capacity by 2030-31.

The Union Government has informed the Lok Sabha that 33 projects have been approved or accorded in-principle approval under the Urban Challenge Fund (UCF). 

The Government of India has amended its Foreign Direct Investment (FDI) policy to allow foreign investment in the inventory-based model of e-commerce exclusively for the export of goods manufactured in India. The decision, announced by the Department for Promotion of Industry and Internal Trade (DPIIT), is aimed at boosting India's e-commerce exports, reducing compliance burdens on Micro, Small and Medium Enterprises (MSMEs), and improving Indian manufacturers' access to global markets.

The National Stock Exchange (NSE) launched the Nifty 500 Ahimsa Index on 10 July 2026, India's first thematic stock market index that tracks companies committed to animal cruelty-free business practices. 

The Foreign Contribution (Regulation) Amendment Bill, 2026 is back in focus during the Monsoon Session of Parliament after the Press Information Bureau (PIB) issued a clarification addressing concerns raised by minority institutions, especially Christian organizations. The clarification came after objections to the proposed Designated Authority, which would manage assets created from foreign contributions when an NGO's FCRA registration is suspended, cancelled, or not renewed.

India's 8th Trade Policy Review (TPR) at the World Trade Organization (WTO) is being held on 21 and 23 July 2026 in Geneva. The review examines India's trade policies and economic reforms undertaken during 1 January 2021 to 31 December 2025. The Indian delegation is led by Commerce Secretary Rajesh Agarwal. The review provides an opportunity for India to present its trade policy achievements, economic reforms, and future vision before WTO members.

The Securities and Exchange Board of India (SEBI) has recently cautioned regulated entities and listed companies against an emerging cyber fraud known as the ‘Boss Scam’, where fraudsters impersonate Chief Executive Officers (CEOs), Managing Directors (MDs), and other senior executives to trick finance teams into transferring funds to fraudulent bank accounts.

The Reserve Bank of India (RBI) has introduced a comprehensive prudential framework for Specified Non-Financial Assets (SNFAs) through the Commercial Banks – Resolution of Stressed Assets Directions, 2025 (Third Amendment Directions, 2026).