🎯 August 2026 Current Affairs MCQs

Article 370 was abrogated on 5th August 2019. The Jammu & Kashmir Reorganisation Act, 2019 bifurcated the state into two Union Territories: J&K (with legislature) and Ladakh (without legislature).

Hiroshima was bombed on 6th August 1945. Nagasaki was bombed on 9th August 1945. Both dates are observed internationally to promote nuclear disarmament.

Both World Elephant Day and International Youth Day are observed on 12th August every year. World Elephant Day was first observed in 2012.

29th August is the birthday of Major Dhyan Chand (born 1905), the legendary hockey wizard. India won three consecutive Olympic gold medals in hockey (1928, 1932, 1936) under his leadership.

14th August is observed as Partition Horrors Remembrance Day in India, declared by the government in 2021 to honour the victims of Partition (1947). It is also Pakistan's Independence Day.

India gained independence on 15th August 1947. The 80th Independence Day was celebrated in August 2026 (1947 + 79 years = 2026, but counting the first as the 1st gives the 80th celebration).

9th August is the International Day of the World's Indigenous Peoples, established by the UN General Assembly in 1994.

World Biofuel Day is observed on 10th August every year to raise awareness about non-fossil fuels as alternatives to conventional fossil fuels.

The RBI Monetary Policy Committee (MPC) kept the Repo Rate unchanged at 5.25% in August 2026. The Repo Rate is the rate at which RBI lends money to commercial banks.

The SDF rate is 5.00% (Repo Rate minus 25 bps). SDF allows banks to park excess liquidity with RBI without any collateral. It replaced the reverse repo as the floor rate.

The Bank Rate / Marginal Standing Facility (MSF) rate is 5.50% (Repo Rate plus 25 bps). Banks can borrow overnight from RBI at the MSF rate against approved government securities.

RBI revised GDP growth forecast upward to 6.7% from the earlier estimate of 6.6%, reflecting improving economic conditions and consumption recovery.

RBI projected CPI inflation at 5.0% for FY2026-27. CPI (Consumer Price Index) tracks changes in the price level of a basket of consumer goods and services.

SDF stands for Standing Deposit Facility. Introduced in April 2022, it is a liquidity absorption tool that allows RBI to absorb surplus liquidity from banks without providing collateral. The SDF rate is the floor of the LAF (Liquidity Adjustment Facility) corridor.

The Liquidity Adjustment Facility (LAF) corridor is bounded by the SDF rate (floor) at 5.00% and the MSF rate (ceiling) at 5.50%, with the Repo Rate at 5.25% as the policy rate in the middle.

The MSMED Amendment Bill 2026 was first introduced in Rajya Sabha and then passed in Lok Sabha. Non-Money Bills can originate in either House. This was not a Money Bill, so it went to Rajya Sabha first.

The amendment removed the fixed statutory investment threshold from the Act itself, making future revision easier. The figures will still be notified by the government separately, allowing updates without amending the Act.

Payment-related mediation must be completed within 90 days from the date of the first hearing. This ensures faster dispute resolution for MSME payment issues.

The minimum monetary penalty will automatically increase by 10% every three years. This ensures penalties remain relevant and deterrent as economic conditions change.

Micro: Investment up to ₹2.5 crore AND turnover up to ₹10 crore. Small: Investment up to ₹25 crore AND turnover up to ₹100 crore. Medium: Investment up to ₹125 crore AND turnover up to ₹500 crore.

TREDS (Trade Receivables Discounting System), an RBI-authorized platform, has been made mandatory for CPSEs to route MSME invoice settlements. This enables faster payment resolution.

MSMED stands for Micro Small and Medium Enterprise Development. The original MSMED Act was passed in 2006 to promote and develop MSMEs.

According to Economic Survey 2025-26, MSMEs account for 31.1% of India's GDP. They also contribute 48.58% to India's total exports.

The MSMED Amendment Bill 2026 amends the MSMED Act 2006. The original Act created the framework for defining and supporting Micro, Small and Medium Enterprises.

This bill replaced the Income Tax Amendment Ordinance 2026. Ordinances are temporary measures passed when Parliament is not in session; they must be replaced by bills when Parliament reconvenes.

Foreign Institutional Investors (FIIs) and Banks of International Settlement have been exempted from paying income tax on interest earned from investments in Government Securities, to attract foreign investment.

The provisions are effective from 1st April 2026, aligning with India's financial year beginning.

Tax exemptions for electronic manufacturing companies including smartphone manufacturers and rough diamond cutting firms have been extended until 2041 to encourage domestic manufacturing.

The amendment to the Payment and Settlement Systems Act 2007 creates provision for charging processing fees on UPI transactions in the future, though no fee has been levied yet.

The bill amended the Payment and Settlement Systems Act 2007 (enabling potential UPI fees) and the Finance Act 2026 (for foreign investor tax exemptions and data center simplification).

The Bankers Books Evidence Bill 2026 replaces the colonial-era Bankers Books Evidence Act 1891, modernizing the framework for using bank records as evidence in legal proceedings.

The bill allows digital, virtual, cloud-based, or offsite backup records to be submitted as primary evidence in court proceedings, removing the requirement to produce original physical ledgers.

Bank records can be authenticated through manual, digital, or electronic signatures by an authorized signatory, making the process flexible and modern.

There are 16 operational tribunals in India. Tribunals are quasi-judicial bodies established to handle specific types of disputes (e.g., National Green Tribunal, Income Tax Appellate Tribunal).

The Tribunals Reform Bill 2026 replaces the Tribunals Reform Act 2021, which had established a common framework for tribunal functioning.

The tenure fixed for tribunal Chairpersons and Members is 5 years under the new bill. Earlier, there were issues with short and uncertain tenures affecting tribunal independence.

The upper age limit for Chairpersons is 70 years, while Members have an upper age limit of 67 years.

The National Tribunal Commission is the key feature — an independent judiciary-led body that will manage selection, performance evaluation, and complaints for all 16 tribunals.

The Chairperson of the National Tribunal Commission should be a former Supreme Court Judge or High Court Chief Justice, ensuring judicial independence.

The Commission will have 4 members: 2 judicial members (from High Court judges) and 2 technical members (from governance, finance, law, or accountancy with 25+ years experience).

PRAGATI stands for Proactive Governance and Timely Implementation. It is a platform used by the PM to review the implementation of important projects and schemes across states/UTs.

PM Modi chaired the 53rd PRAGATI meeting, reviewing major infrastructure and development projects across states and Union Territories.

PRAGATI has been operational since 2015. It operates as a three-tier system involving the PMO, Union Government secretaries, and State chief secretaries.

GYAANI Arth is India's Sovereign AI Stack — an AI infrastructure built for Indian enterprises and public institutions, reducing dependence on foreign AI models and cloud systems.

Vice President CP Radhakrishnan launched the GYAANI Arth Sovereign AI Stack, designed specifically for Indian enterprises and public institutions.

GYAANI Arth was developed by a Bengaluru-based company called GYAANI AI. The stack has two main components: the E1 3.3 LLM model and the Plexis Agentic Platform.

The GYAANI Arth stack has two components: (1) E1 3.3, the Large Language Model, and (2) Plexis, the Agentic Platform that integrates machine intelligence into workflows.

The Ministry of Tribal Affairs launched JAGO AI Assistant — a conversational AI chatbot that answers queries about tribal welfare schemes in local/tribal languages, making government services accessible.

JAGO AI is a conversational AI assistant that responds to queries about tribal welfare schemes in the user's local language, bridging the digital divide for tribal communities.

IST will be calculated using atomic clocks at CSIR-NPL (National Physical Laboratory) and ISRO's NavIC (India's own GPS system), ensuring precision to microseconds.

A 180-day transition period is given after the official gazette publication, allowing all institutions to align their timekeeping systems with the new IST standard.

IST is GMT+5:30, based on the 82°30'E meridian passing through Mirzapur (Prayagraj district), Uttar Pradesh. India does not observe daylight saving time.

The Ministry of Consumer Affairs, Food and Public Distribution is the nodal ministry for Legal Metrology matters including the IST Rules 2026.

NavIC (Navigation with Indian Constellation) is India's own regional navigation satellite system, equivalent to GPS (USA), GLONASS (Russia), Galileo (EU), or BeiDou (China). It is operated by ISRO.

The Dhabaleswar Temple is built in the Kalinga architecture style, characteristic of Odisha. Kalinga architecture is known for its tall curvilinear towers (rekha deula) and intricate carvings.

The Dhabaleswar Temple is located on an island in the Mahanadi river, near Cuttack in Odisha. It is dedicated to Lord Shiva.

The Dhabaleswar Temple is located near Cuttack, the former capital of Odisha (Orissa). It is situated on an island in the Mahanadi river.

The Independence Day At-Home Reception invitation kits featured arts and crafts from Maharashtra, Goa, Madhya Pradesh, and Chhattisgarh. This was similar to Republic Day where North-Eastern states were featured.

Kavi/Kaavi Art belongs to the Konkan region (coastal Maharashtra and Goa). The invitation bag cover was designed with this traditional art form.

Maheshwari Silk is a traditional weave from Maheshwar town, Madhya Pradesh. It is known for its unique border designs and reversible fabric. The Maheshwari Stole (dupatta) was included in the reception kit.

Azulejos/Ajulezo Tiles are a traditional art from Goa, showing Portuguese cultural influence. The tiles were featured in the reception kit representing Goa's cultural heritage.

Patoli/Pattoilyo is a traditional sweet dish from the Konkan region, made with rice batter stuffed with jaggery and coconut, steamed in turmeric leaves. It represents Goa/coastal Maharashtra cuisine.

Germany won the FIH Hockey World Cup 2026, defeating Belgium in the final. This was Germany's 4th Hockey World Cup title.

Belgium was the runner-up (silver medal) in the FIH Hockey World Cup 2026, losing to Germany in the final.

Argentina won the Bronze medal at the FIH Hockey World Cup 2026.

FIH Hockey World Cup 2026 was Germany's 4th World Cup title. Germany previously won in 2002, 2006, and 2010.

FIH stands for Fédération Internationale de Hockey (International Hockey Federation in English). It is the international governing body for field hockey and indoor hockey, headquartered in Lausanne, Switzerland.

East Bengal FC won the 135th Durand Cup, defeating Mohun Bagan Super Giant in the final at Salt Lake Stadium (Vivekananda Yuba Bharati Krirangan), Kolkata.

The 135th Durand Cup final was held at Salt Lake Stadium (Vivekananda Yuba Bharati Krirangan) in Kolkata, which is one of the largest football stadiums in the world.

East Bengal's Durand Cup win brought their total titles to 17, equalling Mohun Bagan's 17 titles in Durand Cup history.

The first Durand Cup was held in 1888, organized by Sir Mortimer Durand (then Foreign Secretary of British India) in Shimla, making it one of Asia's oldest football tournaments.

Salt Lake Stadium (VYBK) in Kolkata is one of the world's largest football stadiums by capacity (around 85,000). It has hosted major international football matches and is the home of both East Bengal and Mohun Bagan.

Both Mohun Bagan Super Giant (MBSG) and East Bengal FC are based in Kolkata, making the Durand Cup final between them a classic local derby. The match at Salt Lake Stadium drew massive crowds.

Bangkok ranked 1st in the IWG (International Workplace Group) Work From Anywhere Index, indicating best infrastructure and ecosystem for remote/hybrid work globally.

Mumbai ranked 50th in the IWG Work From Anywhere Index, making it the highest-ranked Indian city in this index measuring hybrid work readiness.

SEBI (Securities and Exchange Board of India) developed the IT Resilience Index, assessing the resilience and robustness of IT infrastructure among market participants.

HOMES is the mnemonic for the five Great Lakes: H-Huron, O-Ontario, M-Michigan, E-Erie, S-Superior. Together they form the largest group of freshwater lakes in the world.

There are 5 Great Lakes: Lake Huron, Lake Ontario, Lake Michigan, Lake Erie, and Lake Superior. They span the border between the USA and Canada.

Lake Michigan is the only Great Lake entirely within the United States territory and does not form the US-Canada border. All other four Great Lakes lie on or near the US-Canada border.

Lake Superior is the largest of the Great Lakes by surface area (82,103 km²). It is also the largest freshwater lake in the world by surface area. Lake Michigan-Huron together are larger but considered as one connected body.

Lake Ontario is the smallest of the five Great Lakes by surface area (18,960 km²), though Lake Erie is the shallowest.

The National Sports Awards 2025 was chaired by Arun Kumar Mishra (former NHRC Chairperson), not the President or VP, which was a notable change from tradition.

The Army Paralympic Node was awarded at the National Sports Awards 2025, recognizing its contribution to supporting Paralympic athletes from the Indian Army.

Notably, the Major Dhyan Chand Khel Ratna Award (India's highest sports honor) was NOT given at the National Sports Awards 2025 ceremony. The Arjuna, Dronacharya, and other awards were presented.

The 2nd edition of the Bharat International Rice Conference is scheduled for October 23-25, 2026.

The 2nd Bharat International Rice Conference will be held at Bharat Mandapam, New Delhi (October 23-25, 2026). The 1st edition was also held at Bharat Mandapam in October of the previous year.

The 1st Bharat International Rice Conference was held in October 2025 at Bharat Mandapam, New Delhi. The 2nd edition continues the series in October 2026.

The Bodoland Territorial Council (BTC) headquarter is in Kokrajhar, Assam. The BTC was established under the Bodoland Territorial Areas District (BTAD) as part of the peace accord with the Bodo people.

A board was established with its headquarters in Nizamabad, Telangana, to promote the agricultural interests specific to that region (related to turmeric cultivation).

The Bharat International Rice Conference brings together exporters, industry leaders, and international stakeholders to discuss how to increase rice production, improve business, and enhance trade in rice globally.

NavIC stands for Navigation with Indian Constellation. It is India's own regional navigation satellite system developed by ISRO, providing accurate position information in India and up to 1,500 km around it.

CSIR-NPL stands for Council of Scientific and Industrial Research - National Physical Laboratory. It is India's premier national standards laboratory and maintains the official atomic clocks for Indian Standard Time.

Atomic clocks (typically Caesium atomic clocks) are used to maintain IST to microsecond precision. They are kept at CSIR-NPL in New Delhi.

According to Economic Survey 2025-26, MSMEs contribute 48.58% to India's total exports, making them a crucial component of India's export economy.

MSMEs register through the Udyam Registration Portal (udyamregistration.gov.in). Registration is voluntary but helps businesses avail government benefits, subsidies, and priority sector lending.

The Dhabaleswar Temple is situated on a river island in the Mahanadi river. During monsoon, the island gets partially submerged, making the temple accessible only by boat.

Under Article 123 of the Constitution, the President of India can promulgate ordinances when Parliament is not in session. Ordinances have the same force as Acts of Parliament but are temporary in nature.

An Ordinance ceases to operate 6 weeks after the reassembly of Parliament (unless approved by both Houses before that). The President can also withdraw an Ordinance at any time.

A Money Bill must contain only provisions related to Article 110 (taxation, appropriation, consolidation funds, etc.) and can only be introduced in Lok Sabha. The Rajya Sabha cannot amend it but can suggest amendments.

Quasi-judicial means "half-judicial" — these bodies have some characteristics of legal proceedings (hearing evidence, giving decisions) but are not full courts. The National Green Tribunal and Income Tax Appellate Tribunal are examples.

The National Green Tribunal (NGT) was established under the National Green Tribunal Act 2010. It deals with environmental protection, conservation of forests and natural resources, and enforcement of environmental legal rights.

TREDS (Trade Receivables Discounting System) is an RBI-authorized electronic platform that enables MSMEs to convert their trade receivables (invoices) into immediate funds by discounting them through financial institutions.

If arbitration is needed after mediation, the arbitration process must begin within 30 days of mediation ending, and the arbitration result must be delivered within 90 days.

The 82°30'E meridian that determines Indian Standard Time (IST) passes through Mirzapur, Uttar Pradesh. This is why Mirzapur is considered the "Time Capital" of India.

The Mahanadi river originates from Sihawa in Chhattisgarh and flows through Odisha before draining into the Bay of Bengal. Major dams: Hirakud Dam (world's longest earthen dam) on Mahanadi.

Article 356 provides for President's Rule in a state if constitutional machinery fails. The President acts on the advice of the Prime Minister and Cabinet in this matter.

Under the new bill, a Development Commissioner will be appointed as the Adjudicating Authority for MSME disputes. This position was not previously established, and its creation ensures dedicated dispute resolution.

India has won 8 Olympic Gold medals in Hockey (1928, 1932, 1936, 1948, 1952, 1956, 1960, 1964) — the most by any country. Major Dhyan Chand led India to three consecutive golds (1928-1936).

The Payment and Settlement Systems Act was originally passed in 2007. It regulates payment systems in India and was amended by the Taxation and Other Laws Amendment Bill 2026 to enable potential UPI processing fees.

The Great Lakes drain into the Atlantic Ocean through the St. Lawrence River. The water flows from the upper lakes eastward through the system, exiting via the St. Lawrence Seaway into the Gulf of St. Lawrence and the Atlantic Ocean.

The Durand Cup is an annual football (soccer) tournament, the oldest football tournament in Asia and the third oldest in the world (after FA Cup and Scottish FA Cup). It was established in 1888.

The Durand Cup is named after Sir Mortimer Durand, who was the Foreign Secretary of India during British rule. He organized the first tournament in Shimla in 1888.

The Ministry of Tribal Affairs launched JAGO AI — a conversational AI assistant designed to inform tribal communities about government welfare schemes in their native languages.

The Rajiv Gandhi Khel Ratna Award was renamed to Major Dhyan Chand Khel Ratna Award in 2021, honoring India's greatest hockey player. The renaming was announced on National Sports Day (29th August 2021).

UPI (Unified Payments Interface) is managed by NPCI (National Payments Corporation of India), a not-for-profit entity promoted by RBI and Indian Banks' Association. NPCI operates multiple payment systems including IMPS, RuPay, UPI, and Bharat BillPay.

A Money Bill (under Article 110) can only be introduced in Lok Sabha, not in Rajya Sabha. The Rajya Sabha can only recommend (not insist on) amendments to Money Bills.

As per current MSME classification: Small enterprise investment up to ₹25 crore AND turnover up to ₹100 crore. (Micro: ₹2.5 crore investment & ₹10 crore turnover; Medium: ₹125 crore investment & ₹500 crore turnover).

Medium enterprise: Investment up to ₹125 crore AND annual turnover up to ₹500 crore. This category includes larger enterprises that need more capital but still benefit from MSME support schemes.

IST = GMT + 5:30 hours. India follows a single time zone based on the 82°30'E meridian passing through Mirzapur, UP, even though India's longitudinal extent creates a natural 2-hour time difference between the east and west.

Kalinga architecture is the traditional temple architecture of Odisha (formerly Kalinga). It features: Rekha Deula (tower), Jagamohana (assembly hall), Natamandira (dance hall), and Bhogamandapa (offerings hall).

The Great Lakes (except Lake Michigan, which is entirely in the USA) are shared between the United States and Canada. They form part of the international boundary between the two countries.

SEBI stands for Securities and Exchange Board of India. Established in 1988 and given statutory powers in 1992, it is the regulator of securities markets in India. SEBI developed the IT Resilience Index for market participants.

The FIH (International Hockey Federation) Hockey World Cup was first held in 1971 in Barcelona, Spain. Pakistan won the inaugural edition. The tournament is held every 4 years.

The Arjuna Award is given to sportspersons who have shown outstanding performance in international sports over the previous 4 years and continue to show good performance and sportsmanship.

The MPC has 6 members: 3 from RBI (Governor as Chairperson, Deputy Governor, and one officer) and 3 external members appointed by the Government of India. The MPC meets every two months.

The primary objective of monetary policy in India is to maintain price stability (controlling inflation) while keeping growth objectives in mind. The target is to maintain CPI inflation at 4% (+/-2%) on a durable basis.

India's inflation targeting framework (adopted in 2016) sets CPI inflation target at 4% with a tolerance band of +/-2% (i.e., 2% to 6%). If inflation remains outside this band for three consecutive quarters, the MPC must explain to the government.

NavIC (Navigation with Indian Constellation) is operated by ISRO (Indian Space Research Organisation). It uses a constellation of 7 satellites (3 geostationary + 4 geosynchronous) to provide navigation services.

The Bankers Books Evidence Act 1891 was enacted by the British colonial government during the British Raj. It is now being replaced by the Bankers Books Evidence Bill 2026 to modernize the framework.

Decriminalization means replacing criminal prosecution (which leads to jail and criminal records) with civil penalties, warnings, and graduated fines for minor/technical violations. This reduces compliance burden without eliminating accountability.

CPI (Consumer Price Index) data in India is calculated and released by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI). RBI uses this data for monetary policy decisions.

The National Tribunal Commission is designed as an independent judiciary-led body. The Chief Justice of India's consultation is required for appointment of the Chairperson and judicial members, ensuring judicial independence.

The Hirakud Dam is built on the Mahanadi river in Odisha. It is the longest earthen dam in the world at about 25.8 km. The same Mahanadi has the Dhabaleswar island temple near Cuttack.

Article 370 granted special autonomous status to the state of Jammu & Kashmir. After its abrogation on 5th August 2019, J&K was reorganized into two Union Territories: J&K (with legislature) and Ladakh (without legislature).

India's 1st Independence Day was celebrated on 15th August 1947. Therefore, the 78th Independence Day was on 15th August 2024, and the 79th on 15th August 2025.

FIIs are exempted from income tax on interest earned from Government Securities (G-Secs) and on capital gains from such securities, to make India more attractive for foreign investment.

PRAGATI uses a video conferencing and e-governance dashboard platform to connect the PMO with state/UT chief secretaries, enabling real-time review of project implementation without physical travel.

The FIH Men's Hockey World Cup is held every 4 years, similar to FIFA World Cup. The 2026 edition follows the 2023 World Cup held in India (Bhubaneswar and Rourkela).

Patoli is a traditional Konkan sweet made by spreading rice batter (soaked and ground) on turmeric leaves, filling with jaggery and coconut, and steaming. The turmeric leaf imparts a distinctive aroma and flavor.

Sovereign AI refers to AI infrastructure developed, controlled, and operated domestically. GYAANI Arth aims to reduce India's dependence on foreign AI models (like those from US tech companies) for government and enterprise use.

The bill allows manual, digital, or electronic signatures for authenticating bank records as court evidence. Biometric authentication is not specifically mentioned as an authentication mode for this purpose.

The Great Lakes are the world's largest system of freshwater lakes, containing about 21% of the world's surface fresh water by volume. They are critical water sources for millions of Americans and Canadians.

MSMEs contribute 48.58% to India's total exports. This makes MSMEs critical to India's foreign exchange earnings and export competitiveness, which is why their development is a government priority.

PRAGATI meetings are chaired by the Prime Minister. PM Modi has personally chaired all editions of PRAGATI meetings since the platform was launched in 2015.

Vishwanathan Anand was the first recipient of the Rajiv Gandhi Khel Ratna Award in 1991-92 for his achievements in chess. The award was later renamed after Major Dhyan Chand in 2021.

According to Economic Survey 2025-26, MSMEs contribute 31.1% to India's GDP. This makes MSMEs among the most significant contributors to economic output alongside the service sector.

An ordinance must be approved by both Houses of Parliament within 6 weeks of their reassembly, or it ceases to operate. The Income Tax Amendment Ordinance 2026 was replaced by the Taxation and Other Laws Amendment Bill 2026 following this process.

Odisha temples predominantly use Kalinga architecture (also called Kalinga style or Odishan style), which is a subtype of Nagara architecture. The Lingaraj Temple, Jagannath Temple, and Sun Temple (Konark) are famous examples.

Banks are protected from being summoned to produce original books unless the court specifically orders it. As long as digital records with proper authentication exist, they can be submitted. The "safeguarding" provision ensures banks are not unnecessarily burdened.

The Bank for International Settlements (BIS) is headquartered in Basel, Switzerland. It serves as a bank for central banks and promotes international monetary and financial cooperation.