06th August 2025

1. ISRO Launches HOPE Mission in Ladakh to Simulate Astronaut Life for Gaganyaan
2. Tata Motors Acquires Iveco for €3.8 Billion in Biggest Deal Since Corus
3. Paytm Goes China-Free as Antfin Fully Exits with ₹3,800 Crore Stake Sale
4. Deloitte Pegs India’s FY26 GDP Growth at 6.4–6.7% on Strong Domestic Demand
5. India’s Business Confidence Index Rises to 149.4 in April–June
6. UPI Sets New Record with 707 Million Daily Transactions: India’s Digital Payments Boom Continues
7. India and Philippines Sign Nine MoUs to Strengthen Strategic Partnership Across Multiple Sectors
8. India to Host WHO–IRCH Workshop on Herbal Medicine Safety and Regulations
9. Policybazaar Fined ₹5 Crore by IRDAI for Misleading Insurance Promotions
10. India’s Services Sector Hits 11-Month High in July 2025
11. JSW Steel and JFE Steel Join Hands for ₹5,845 Crore Expansion in Grain Oriented Electrical Steel
12. GST Evasion of ₹7.08 Lakh Crore Detected Over Last Five Financial Years
13. RBI to Deliver $5 Billion Dollar-Rupee Swap Without Rollover
14. India partners with the UN under the Global Capacity Building Initiative for Asia, Africa and the Caribbean countries
15. Punjab Becomes First State to Empanel Language Interpreters, Translators under Juvenile Law
16. IATA: Indian Emerged as World’s 5th Biggest Aviation Market; Mumbai–Delhi among Busiest Airport Pairs
17. Moldova becomes 107th member of the ISA
18. Generali Group, Central Bank of India Unveiled New JV Brand Identity as ‘Generali Central’
19. IDFC First Bank Ltd. & IndiGo Unveiled New ‘IndiGo IDFC FIRST Dual Credit Card’
20. IndusInd Bank Appointed Rajiv Anand as MD & CEO for 3 Years
21. Dhruva Space to Launch First Commercial Satellite Aboard SpaceX’s Falcon 9
22. TN Government Signed 41 MoUs Worth Rs 32,554 Crore at TN Rising Conclave in Thoothukudi

National News

1. India to Host WHO-IRCH Workshop on Herbal Medicines

• What:
  • India will host the WHO–International Regulatory Cooperation for Herbal Medicines (IRCH) Workshop from August 6 to 8, 2025, in Ghaziabad to strengthen global regulation of herbal medicines.
• Why:
  • To boost international collaboration, improve safety and efficacy standards, support regulatory alignment, and empower traditional medicine systems worldwide.
• Tell me more:
  • The three-day workshop is organised by the Ministry of Ayush with WHO and supported by the Pharmacopoeia Commission for Indian Medicine & Homoeopathy (PCIM&H).
  • Countries attending physically include Bhutan, Brunei, Cuba, Ghana, Indonesia, Japan, Nepal, Paraguay, Poland, Sri Lanka, Uganda, and Zimbabwe; Brazil, Egypt, and the USA will join virtually.
  • Sessions will cover WHO-IRCH working group reviews, pre-clinical research, regulatory frameworks, safety case studies (including Ashwagandha), and hands-on training in herbal drug identification and chemo-profiling.
  • The Ayush Suraksha (Pharmacovigilance) Programme will be introduced to strengthen safety monitoring of traditional medicines.

Source: PIB

2. India Launches India-UN Initiative for Sustainable Development Goals

• What:
  • India launched the first phase of four projects in nine partner countries under the India-UN Global Capacity Building Initiative to support Sustainable Development Goals (SDGs).
• Why:
  • To foster South-South cooperation and strengthen international partnerships for achieving key SDG targets related to health, food security, vocational training, and census preparedness.
• Tell me more:
  • The projects cover vital areas such as food security, healthcare, vocational training, and census preparation in countries across Asia, Africa, and the Caribbean.
  • The initiative is supported by India’s Ministry of External Affairs (MEA), UN agencies, and ITEC implementing institutes, involving heads of missions, diplomats, and UN officials.
  • The MEA’s Secretary (West), Tanmay Lal, and UN Resident Coordinator Shombi Sharp emphasized the importance of partnerships in line with SDG 17 and the Indian concept of ‘Vasudhaiva Kutumbakam.’
  • India’s ITEC programme will provide training and share best practices and institutional expertise to help partner countries implement their SDG projects.

Source: ET

State News

1. Punjab Empanels Sign Language Experts Under Juvenile Justice Act

• What:
  • Punjab became the first Indian state to empanel sign language interpreters, translators, and special educators under the Juvenile Justice Act, 2015, to support children with hearing and speech impairments.
• Why:
  • To ensure accessible and sensitive justice for children with special needs by removing communication barriers in legal and other official proceedings.
• Tell me more:
  • The empanelled professionals will be deployed district-wise to assist children during court proceedings and other official matters under relevant legal provisions.
  • The initiative aligns with the Protection of Children from Sexual Offences (POCSO) Act, 2012, promoting fair and compassionate treatment for affected children.
  • Punjab government has previously broadcasted Vidhan Sabha proceedings in sign language, enhancing accessibility for the speech and hearing impaired.

Source: BS

2. Tamil Nadu Launches Projects and Secures ₹32,554 Crore Investment

• What:
  • Tamil Nadu inaugurated commercial production for four projects costing ₹1,230 crore and signed MoUs for 41 new projects with investments totaling ₹32,554 crore.
• Why:
  • To boost industrial growth, create employment, and promote inclusive development across Tamil Nadu, especially in southern districts.
• Tell me more:
  • The four projects are located in Tirunelveli, Thoothukudi, and Kancheepuram and are expected to create 3,100 jobs.
  • The 41 new projects are expected to generate over 49,000 employment opportunities; 19 projects belong to the MSME sector with ₹265.15 crore investment.

Source: TH

International News

1. Moldova Joins International Solar Alliance as 107th Member

• What:
  • Moldova became the 107th member of the International Solar Alliance (ISA) by handing over the Instrument of Ratification in New Delhi.
• Why:
  • To support ISA’s mission to promote solar energy use and unlock investments by 2030 while reducing technology and financing costs.
• Tell me more:
  • ISA was launched in 2015 by India and France during COP21 in Paris as a global initiative for solar energy promotion.
  • Member countries of ISA work together by enacting policies, sharing best practices, setting common standards, and mobilising solar investments.
  • Solar energy under ISA is promoted across sectors like agriculture, health, transport, and power generation.
  • The ratification event involved the Moldovan Ambassador to India and ISA’s Head of Depository, held in New Delhi.

Source: TW

Banking and Economy

1. Tata Motors to Acquire Italian Commercial Vehicle Company Iveco

• What:
  • Tata Motors is acquiring Italian commercial vehicle maker Iveco for about €3.8 billion, excluding Iveco’s defence business.
• Why:
  • To create a stronger, diversified global commercial vehicle company with significant presence in India, Europe, and the Americas.
• Tell me more:
  • The combined group will have revenues of €22 billion and annual sales of over 540,000 units across Europe (50%), India (35%), and Americas (15%).
  • Tata Motors is India’s largest truck and bus maker, and this deal helps enter developed markets competing with Volvo, Daimler, and Scania.
  • The offer price is €14.1 per share, with a 34-41% premium after adjusting for an estimated dividend from the defence business separation.
  • The deal depends on the separation of Iveco’s defence business and regulatory approvals, expected to complete in the first half of 2026.

Source: TW

2. Chinese Investor Antfin Exits Paytm with Rs 3,800 Crore Stake Sale

• What:
  • Antfin, a Chinese entity linked to Alibaba, sold its entire 5.84% stake in Paytm worth around Rs 3,800 crore, marking a full Chinese investor exit from the company.
• Why:
  • To remove Chinese ownership concerns from Paytm, align with regulatory expectations, and reduce supply pressure on the stock.
• Tell me more:
  • The bulk deal was executed at Rs 1,020 per share through Goldman Sachs and Citi.
  • Following the sale, Paytm shares fell by up to 1% but may recover due to reduced ownership concerns and potential regulatory approvals.
  • Earlier major Chinese investors like Alibaba and SoftBank had already exited; only Elevation Capital remains a significant pre-IPO investor with 15.4% stake.
  • Paytm reported a profit of Rs 122 crore in Q1FY26, showing a sharp turnaround from regulatory disruptions in early 2024.

Source: ET

3. India’s Business Confidence Index Rises Sharply in Q1

• What:
  • India’s Business Confidence Index (BCI) rose to 149.4 in April-June 2025 from 139.3 in the previous quarter, showing strong business optimism.
• Why:
  • To reflect increasing positive expectations about the economy, firms’ finances, investment climate, and capacity usage among businesses.
• Tell me more:
  • Over 60% of firms had positive views on economic improvement, financial position, investment, and capacity utilisation.
  • About 79% of firms expect production and domestic sales to increase in the next six months.
  • Export outlook is positive with 66.5% expecting higher outbound shipments of finished goods.
  • Import expectations rose to 54.3% for raw materials, indicating growth in domestic manufacturing.

Source: TOI

4. UPI-Based Daily Transactions Cross 700 Million Milestone

• What:
  • Daily unified payments interface (UPI) transactions in India crossed 700 million, reaching 707 million on August 2, 2025.
• Why:
  • This milestone marks steady growth towards the government’s goal of achieving 100 crore UPI transactions per day.
• Tell me more:
  • UPI transactions have doubled over the past two years despite slowing growth in transaction amounts.
  • In the previous month, UPI recorded about 19.5 billion transactions worth over Rs 25 lakh crore.
  • UPI now accounts for around 85% of all digital transactions in India.
  • Nearly half of the world’s real-time digital payments are powered by UPI.

Source: NOA

5. IRDAI Fines Policybazaar Rs 5 Crore for Regulatory Violations

• What:
  • Insurance regulator IRDAI penalised Policybazaar with Rs 5 crore for violating 11 charges under the Insurance Act and IRDAI Web Aggregator Regulations, including biased product promotion and delayed premium remittance.
• Why:
  • To enforce regulatory compliance and ensure fair, transparent practices in insurance product promotion and timely remittance of premiums.
• Tell me more:
  • Policybazaar promoted select insurance products as “best” or “top” without transparent, verified data, violating rules that prevent biased ranking.
  • It delayed premium remittance to insurers beyond the allowed 24 hours, with delays ranging from 3 days to over 30 days for many policies.
  • Policybazaar was an Insurance Web Aggregator during the inspection period but obtained its composite broker license in February 2024.
  • Section 64VB of the Insurance Act, 1938 mandates remittance of premiums within 24 hours by intermediaries.

Source: ET

6. India’s Services Sector Records Fastest Growth in 11 Months

• What:
  • India’s services sector grew at its quickest pace in 11 months in July, driven by rising new business, international orders, and strong output.
• Tell me more:
  • The HSBC India Services PMI rose slightly to 60.5 in July from 60.4 in June, staying well above the 50-point growth threshold for over two years.
  • New business growth was supported by advertising, strong demand, and onboarding new clients, with export orders also increasing.
  • Services PMI reflects inputs from around 400 firms across sectors like transport, finance, insurance, real estate, and business services.
  • Manufacturing activity also grew strongly, with the HSBC Manufacturing PMI reaching a 16-month high of 59.1 in July.
  • The combined HSBC Composite PMI Output Index rose to 61.1 in July, showing highest business activity since April 2024.

Source: LM

7. JSW-JFE Joint Venture to Expand Electrical Steel Capacity

• What:
  • JSW Steel and Japan’s JFE Steel will invest ₹5,845 crore to expand cold rolled grain-oriented electrical steel production in two Indian plants.
• Tell me more:
  • JSW and JFE will fund ₹1,966 crore equally through equity for the expansion, with commissioning planned from fiscal year 2028 in phases.
  • The Nashik plant’s production capacity will increase from 50,000 to 250,000 tons per annum, requiring ₹4,300 crore investment.
  • Capacity at the upcoming Vijayanagar facility will rise from 62,000 to 100,000 tons per annum with investment of about ₹1,545 crore.
  • The Nashik plant was acquired from Germany’s Thyssenkrupp in January for ₹4,159 crore.

Source: ET

8. GST Evasion of ₹7.08 Lakh Crore Detected in Five Years

• What:
  • GST evasion totaling ₹7.08 lakh crore was found in 91,370 cases during the financial years 2020-21 to 2024-25, including ₹1.79 lakh crore from Input Tax Credit (ITC) fraud.
• Why:
  • To curb tax evasion and strengthen GST compliance using advanced technology and analytics.
• Tell me more:
  • In FY 2024-25 alone, ₹2.23 lakh crore GST evasion was detected in 30,056 cases, with more than half linked to ITC fraud involving ₹58,772 crore.
  • Recovery through voluntary deposits over five years was over ₹1.29 lakh crore.
  • GST evasion detected in earlier years: ₹2.30 lakh crore (FY 2023-24), ₹1.32 lakh crore (FY 2022-23), ₹73,238 crore (FY 2021-22), and ₹49,384 crore (FY 2020-21).
  • Net Central GST collections reached 96.7% of revised estimates for FY 2024-25.

Source: DD

9. RBI to Settle $5 Billion Dollar-Rupee Swap Amid Surplus Liquidity

• What:
  • The Reserve Bank of India (RBI) will deliver a $5 billion dollar-rupee swap maturing on Monday without rolling it over.
• Why:
  • Due to surplus rupee liquidity in the banking system, there is little need for a rollover, and the RBI aims to absorb rupees by selling dollars.
• Tell me more:
  • The swap was initiated between January and May 2025 to inject rupee liquidity by RBI buying dollars.
  • With rupee liquidity surplus standing at ₹3.60 trillion ($41.2 billion), equal to 1.5% of total deposits, settling the swap will not disrupt money markets.
  • RBI head Sanjay Malhotra has indicated maintaining surplus liquidity around 1% of deposits is the goal.
  • Dollar-rupee near-term swaps show minimal impact from the swap maturity, with the cash-tomorrow swap quoting an annualized yield of ~5.8%.
  • Absence of large buy/sell swaps through state-run banks suggests RBI is not rolling over the swap as of now.

Source: ET

10. Generali and Central Bank of India Launch New Insurance Brand

• What:
  • Generali Group and Central Bank of India launched a new brand identity for their life and general insurance joint venture named Generali Central.
• Why:
  • To symbolize the partnership aimed at protecting customers’ families, health, assets, and future through life and general insurance services.
• Tell me more:
  • Central Bank of India holds a 25.18% equity stake in the life insurance company and 24.91% in the general insurance firm, acquired in June 2025.
  • The rebranding includes a new logo, typography, website, and an enhanced social media presence under the Generali Central brand.
  • The stake acquisition of debt-ridden Future Enterprises Ltd in the insurance ventures was completed after Central Bank of India was declared the successful bidder by the Committee of Creditors (CoC).

Source: ET

11. IDFC FIRST Bank and Indigo Launch Dual Credit Card

• What:
  • IDFC FIRST Bank and Indigo launched the Indigo IDFC FIRST Dual Credit Card, which offers both Mastercard and RuPay cards with a shared credit limit.
• Why:
  • To provide customers with the convenience of two credit cards under one issued kit, consolidating transactions in a single statement and enhancing rewards through IndiGo BluChip earnings.
• Tell me more:
  • The card can be applied for by paying a joining fee or by opting for an FD-based variant that requires an FD of ₹1 lakh without credit checks.
  • Customers earn IndiGo BluChips on every transaction: 6 for every ₹100 on IndiGo flight bookings, 3 on other spends, and 0.5 on UPI, insurance, rent, and utility spends.
  • A single e-statement is generated for both cards, and cardholders make one consolidated payment.

Source: LM

Reports and Indices

1. India Becomes Fifth Largest Aviation Market in 2024

• What:
  • India emerged as the world’s fifth biggest aviation market handling 241 million passengers in 2024, with the Mumbai-Delhi route among the busiest airport pairs.
• Why:
  • To highlight India’s growing air travel market and its importance in global aviation connectivity.
• Tell me more:
  • India saw 211 million air passengers in 2024, a growth of 11.1% over 2023, surpassing Japan with 205 million passengers.
  • The US remains the largest aviation market with 876 million passengers, followed by China (741 million), the UK (261 million), and Spain (241 million).
  • Mumbai-Delhi ranked as the 7th busiest airport pair globally, carrying 5.9 million passengers.
  • International premium class travel grew by 11.8%, exceeding economy travel growth of 11.5% in 2024, led by Asia Pacific region’s 22.8% growth in premium passengers.

Source: ET

GDP Forecasts

1. Deloitte Projects India’s Economic Growth at 6.4-6.7%

• What:
  • Deloitte India forecasts India’s economic growth at 6.4-6.7% for the fiscal year 2025-26 based on strong domestic factors and expanding global opportunities.
• Why:
  • To highlight India’s resilient economy amidst global uncertainties and emphasize the benefits of ongoing trade deals and domestic policies.
• Tell me more:
  • India’s growth in 2024-25 was 6.5%, with the next year supported by strong domestic demand, easing inflation, and active trade diplomacy.
  • Strategic trade negotiations with the UK, US, and expected deals with the European Union aim to boost income, jobs, market access, and domestic demand.

Source: ET

Science and Technology

1. ISRO Launches First Analogue Space Mission in Ladakh

• What:
  • Indian Space Research Organisation (ISRO) has started India’s first analogue space mission in Ladakh to prepare for human space exploration using a simulated environment.
• Why:
  • To test technology and human endurance needed for future long-duration space missions and support India’s goal to send astronauts to space by 2027 and to the Moon by 2040.
• Tell me more:
  • The mission, called Himalayan Outpost for Planetary Exploration (Hope), uses an inflatable habitat (Hab-1) equipped with life-support systems like hydroponics and sanitation for a two-member crew living isolated for ten days.
  • Ladakh was chosen because its high altitude, cold, dry conditions, and unique geology resemble lunar and Martian surfaces with oxygen levels at just 40% of sea level.
  • Two analogue astronauts, selected from 135 applicants, simulate the physical and psychological challenges of real Moon missions.
  • The mission involves partners such as IIT Bombay, University of Ladakh, and private collaborators like Protoplanet to gather data for crew health and technology adaptation for lunar exploration.

Source: IT

2. Dhruva Space to Launch LEAP-1 Mission with Australian Partners

• What:
  • Hyderabad-based startup Dhruva Space will launch its first commercial mission, LEAP-1, with Australian companies Akula Tech and Esper Satellites on a SpaceX Falcon 9 rocket in late 2025.
• Why:
  • To strengthen the Indo-Australian partnership in space technology and deploy payloads with applications in defense, agriculture, mining, disaster response, and environment management.
• Tell me more:
  • The LEAP-1 mission includes two payloads on Dhruva’s P-30 satellite platform: an AI-powered module from Akula Tech and a hyperspectral imager from Esper Satellites.
  • Akula Tech’s AI module enables in-orbit machine learning model processing and retraining for earth observation.
  • Esper Satellites’ imager provides detailed spectral remote sensing data for various applications.
  • Dhruva’s P-30 satellite bus was successfully tested in orbit during ISRO’s PSLV-C58 POEM-3 mission in January 2024.
  • Dhruva integrates ground station services and real-time mission and data management with its ISOCS platform.

Source: ET

Memorandum of Understanding

1. India and Philippines Sign Key MoUs to Strengthen Partnership

• What:
  • India and the Philippines exchanged nine Memorandums of Understanding (MoUs) covering strategic partnership, mutual legal assistance in criminal matters, defence, science and technology, among others.
• Why:
  • To deepen cooperation across various sectors and celebrate the 75th anniversary of diplomatic relations between India and the Philippines.
• Tell me more:
  • Prime Minister Narendra Modi highlighted that bilateral trade has crossed 3 billion dollars and emphasized completing the review of the India-ASEAN Free Trade Agreement soon.
  • India agreed to increase Quick Impact Projects in the Philippines and cooperate on developing sovereign data cloud infrastructure.
  • Philippines President Ferdinand Marcos Jr. expressed satisfaction with the rapid progress in defence modernisation supported by India’s indigenous defence industry.

Source: NOA

Appointments

1. Rajiv Anand Appointed MD and CEO of IndusInd Bank

• IndusInd Bank appointed Rajiv Anand as its new Managing Director (MD) and Chief Executive Officer (CEO) for three years from August 25, 2025.

Source: TH

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