UPSC CURRENT AFFAIRS

IREL (India) Limited, a public sector undertaking under the Department of Atomic Energy (DAE), has invited entrepreneurs, startups and industries to commercialise seven indigenous rare-earth and titanium technologies.

The Reserve Bank of India (RBI) has decided to prematurely close its special foreign exchange (forex) swap facility for fresh FCNR(B) deposits on August 31, 2026, following a strong response from banks and overseas depositors. The facility has mobilised $52.3 billion through FCNR(B) deposits.

Reliance Industries Limited (RIL) and British aerospace major Rolls-Royce announced, their strategic intent to partner for the design, development, manufacturing and delivery of a sovereign indigenous combat engine for India’s Advanced Medium Combat Aircraft (AMCA) programme.

The Government of India has launched the Foreign Assets of Small Taxpayers-Disclosure Scheme, 2026 (FAST-DS) to provide a one-time opportunity to eligible small taxpayers to disclose certain previously undisclosed foreign income and assets.

Parliament has passed the Mines and Minerals (Development and Regulation) Amendment Bill, 2026, amid concerns that restrictions on state-level levies on mineral rights and mineral-bearing land could affect the revenues of mineral-producing states.

The Reserve Bank of India (RBI) has proposed a comprehensive new framework governing interest rates on loans and advances.

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 Government of India has introduced the Indian Statistical Institute Bill, 2026 in Parliament to replace the Indian Statistical Institute Act, 1959. 

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.