Current Affairs - August 26, 2026 Current Affairs

Brazil signed a Memorandum of Understanding (MoU) with India on August 21, 2026, to strengthen bilateral cooperation in telecommunications and Information and Communication Technologies (ICTs). The agreement was signed on the sidelines of the 12th BRICS Communications Ministers Meeting in Pune, Maharashtra. It promotes cooperation in emerging technologies such as 5G, 6G, Artificial Intelligence and the Internet of Things. The MoU also covers Open RAN, Direct-to-Device connectivity, satellite technologies, cybersecurity, spectrum management and Digital Public Infrastructure. Brazil is a member of both BRICS and the G20, with Brasília as its capital and the Brazilian Real as its currency.

Fino Payments Bank extended Ketan Merchant’s tenure as Interim Managing Director and Chief Executive Officer for another three months, beginning August 27, 2026. The extension was recommended by the Nomination & Remuneration Committee and approved by the bank’s board. It remains subject to approval from the Reserve Bank of India (RBI). Merchant assumed the interim leadership role on May 27, 2026, following the resignation of Rishi Gupta. Before becoming interim CEO, Merchant served as the bank’s Chief Financial Officer. The extension ensures continuity in leadership during the transition period.

Ashiv village in Latur district was officially declared Maharashtra’s first 100% LPG-free PNG village by Mahanagar Gas Limited (MGL) on August 20, 2026. The village successfully transitioned from Liquefied Petroleum Gas (LPG) to Piped Natural Gas (PNG), with MGL providing direct pipeline connections to 1,050 households. The initiative ensures an uninterrupted cooking fuel supply directly to homes and supports the government’s objective of increasing the share of natural gas in India’s energy mix. The project was implemented in coordination with the Ashiv Gram Panchayat and local district authorities, marking an important milestone in village-level clean energy adoption.

Satish Golcha, a senior IPS officer of the AGMUT cadre, has been appointed as Officer on Special Duty (OSD) in the Directorate of Home Guards, Delhi. His OSD tenure will continue until the retirement of the current Director General, Virender Singh, on September 30, 2026. From October 1, 2026, Golcha is expected to take charge as the Director General of Home Guards. Earlier, he served as Commissioner of Police, Delhi, and Director General (Prisons), Delhi, along with holding other senior positions in the Delhi Police.

Bishkek, the capital of Kyrgyzstan, will host the SCO Summit 2026 from August 31 to September 1. The summit is particularly significant as the Shanghai Cooperation Organisation (SCO) marks its 25th anniversary. The meeting will focus on regional security, counterterrorism, transport connectivity, trade and energy cooperation. Discussions are also expected to address emerging threats such as cybercrime and organised crime, along with major connectivity projects in Central Asia. The summit will bring together representatives of the SCO’s 10 member states, including India, China, Russia, Pakistan, Iran and Belarus, highlighting the organisation’s growing regional importance.

Iran announced the discovery of more than 7.5 trillion cubic feet (TCF) of natural gas reserves in Fars province in southern Iran on August 23, 2026. Approximately 5.7 tcf of the discovered reserves are considered recoverable. The discovery also includes valuable gas condensates worth tens of billions of dollars and could provide production equivalent to around 15 years of output from a single phase of the South Pars field. The new reserves are particularly significant for Iran’s energy security following a 25% reduction in daily gas production capacity caused by infrastructure attacks in February 2026.

Razorpay launched its Multi-Currency EEFC Account solution on August 24, 2026, to help exporters receive international payments directly in foreign currencies. The solution allows earnings to be credited to Exchange Earners’ Foreign Currency (EEFC) accounts in the original transaction currency, including USD, EUR, GBP, AED and SGD. It helps businesses reduce foreign exchange conversion cycles, minimise FX leakage and lower associated costs. The service is integrated into Razorpay’s existing dashboard and settlement engine, so merchants do not need separate onboarding or additional setup. Razorpay, established in 2014 and headquartered in Bengaluru, operates as an omnichannel payments platform for businesses.

Nipun is the second Nistar-class Diving Support Vessel (DSV) of the Indian Navy and is scheduled to be commissioned on 31st August 2026 at the Naval Dockyard, Mumbai. The vessel was indigenously designed and built by Hindustan Shipyard Limited (HSL), Visakhapatnam. Nipun is equipped for specialised diving, underwater interventions, medical support and submarine rescue operations. Its commissioning will strengthen the Navy’s capabilities in deep-sea diving and underwater missions while also highlighting India’s growing expertise in indigenous defence shipbuilding and supporting the broader objective of achieving self-reliance in defence manufacturing.

CSIR unveiled three Indian-made micro and small gas turbine engines—NJ-05, NJ-50 and NJ-100—on 25th August 2026. Developed by CSIR-National Aerospace Laboratories (CSIR-NAL), these engines generate thrusts of 5 kg, 50 kg and 100 kg respectively. They are designed for tactical UAVs, drone interceptors and compact missile systems. The development strengthens India’s indigenous propulsion capabilities and supports the Atmanirbhar Bharat initiative. It is also expected to reduce dependence on imported propulsion systems while creating opportunities for Indian aerospace industries and start-ups to manufacture specialised engines.

India’s finished steel consumption increased by 7.9% during April-July 2026, reaching 56 million tonnes (MT), compared with 52 MT during the corresponding period of the previous year. The growth in consumption was higher than the 4.7% increase in finished steel production, which reached 54.7 MT. This stronger rise in consumption indicates robust domestic demand, particularly from infrastructure and construction-related industries. During the same period, India’s crude steel production also increased by 2.4% to 56.2 MT, reflecting continued growth in the country’s steel sector.

IIT Kharagpur conferred the Nina Saxena Excellence in Technology Award 2026 on Dr Nishanth Dongari on August 18, 2026, during its Platinum Jubilee foundation day. Dr Dongari, an Associate Professor at IIT Hyderabad and founder of PURE Energy, was recognised for developing PuREPower, India’s first all-in-one integrated Battery Energy Storage System (BESS). The system combines solar charging with lithium-ion storage and features an automatic switchover in under 10 milliseconds, along with AI-driven battery management. The Nina Saxena Award is presented annually by IIT Kharagpur to recognise outstanding technical innovation and commercialisation.