Daily Current Affairs: August 27, 2026

Banking, Payments & All India Financial Institutions (AIFIs)

Bank of Baroda (BOB) launches 'UPI Global Reverse Acceptance' QR payments

Bank of Baroda has rolled out a cross-border payment solution enabling international travelers in India to make direct merchant payments seamlessly.

SIDBI reports highest-ever Net Profit of ₹5,493 Crore for FY26

The Small Industries Development Bank of India (SIDBI) recorded its strongest annual financial performance for Financial Year (FY) 2025–26, registering a 14.2% year-on-year profit surge.

Good to know — SIDBI & AIFI Profile:

1. 5 All India Financial Institutions (AIFIs): Regulated by the RBI — NABARD, SIDBI, NHB, EXIM Bank, and NaBFID.
2. SIDBI Profile: Established in 1990 under the SIDBI Act, 1989; Headquartered in Lucknow, Uttar Pradesh (UP).
3. Leadership: Headed by Manoj Mittal (since 2024). Functions under the Ministry of Finance to regulate and refinance MSME financing institutions.

Education, Culture & Social Welfare Schemes

Netflix and IICT partner to offer AVGC sector scholarships

The Indian Institute of Creative Technology (IICT) joined hands with global entertainment platform Netflix to provide substantial scholarship support for emerging creative talent.

Uttar Pradesh launches "Lokmata Ahilyabai Matrushakti Yatra Yojana"

Uttar Pradesh Chief Minister Yogi Adityanath announced a dedicated public transportation welfare scheme providing free bus transit for senior women citizens.

Good to know — Uttar Pradesh State Profile:

1. Capital: Lucknow (situated on the banks of the Gomti River).
2. Chief Minister: Yogi Adityanath | Governor: Anandiben Patel.
3. National Parks & Tiger Reserves: Dudhwa NP (TR), Pilibhit TR, Amangarh TR, and Ranipur TR.

Odisha rolls out 'Bidesh Sikhya Bruti' foreign study scholarship

The Government of Odisha launched a dedicated overseas education scheme to fund higher studies for underprivileged students in premier global universities.

Good to know — Odisha State Profile:

1. Formation / Statehood Day: April 1, 1936 (Utkal Divas).
2. Capital: Bhubaneswar | Chief Minister: Mohan Charan Majhi.
3. Protected Areas: Bhitarkanika NP, Simlipal NP (TR), Satkosia TR, and Nandankanan Zoological Park.

Heritage Crafts & Geographical Indications (GI)

200-year-old 'Jodhpuri Mojari' awarded Geographical Indication (GI) Tag

The traditional handcrafted footwear art from Jodhpur, Rajasthan, has been granted official GI recognition.

Good to know — Recent GI Tags & Rajasthan Profile:

1. Recent GI Tags Across States:
2. West Bengal: Jalbhara Sandesh, Janai Monohara, and Balagarh Wooden Boat.
3. Madhya Pradesh: Khurasani Imli of Mandu.
4. Andhra Pradesh: Ponduru Khadi.
5. Jharkhand: Bamboo Craft, Munda Jewelry, Kuchai Silk, and Bhagaiya Silk.
6. Rajasthan Profile: Capital: Jaipur | Chief Minister: Bhajan Lal Sharma | Governor: Haribhau Kishanrao Bagde.
7. Tiger Reserves & NPs: Desert NP, Keoladeo Ghana NP, Mukundra Hills TR, Ranthambore TR, Sariska TR, Darrah NP, Ramgarh Vishdhari TR, and Dholpur-Karauli TR.

Defence, Aerospace & Maritime Exercises

HAL and Safran sign MoU to develop 'Aravalli' Helicopter Engines

Hindustan Aeronautics Limited (HAL) and France's Safran Helicopter Engines entered into an agreement to jointly design, develop, and manufacture heavy-lift helicopter powerplants.

India and Vietnam conduct 2nd 'Sahyog Hop Tac' Coast Guard Exercise

The Indian Coast Guard (ICG) and Vietnam Coast Guard completed their 2nd bilateral joint maritime exercise off the Chennai coast.

Sports, Cricket & Important Days

India Open 2028 Badminton tournament shifted to Guwahati

The Badminton World Federation (BWF) Super 750 tournament, traditionally hosted in New Delhi, will move to Assam in 2028.

Pakistani fast bowler Aimen Anwar announces retirement

Pakistani international fast bowler Aimen Anwar has officially announced her retirement from all formats of competitive cricket.

World Lake Day observed on 27 August

Observed internationally on August 27 to mobilize global action, protect freshwater lake ecosystems from pollution, and mitigate the severe impacts of climate change.

Revision 1: Reserve Bank of India (RBI) Comprehensive Master Profile

1. Central Board Structure (21 Members Total):
2. 1 Governor: Sanjay Malhotra
3. 4 Deputy Governors: J. Swaminathan, Poonam Gupta, Shirish Chandra Murmu, and Rohit Jain
4. 4 Directors from Local Boards: Delhi, Mumbai, Chennai, and Kolkata
5. 2 Officials from the Ministry of Finance
6. 10 Government-Nominated Directors: Includes Sanjay Lohiya, Anand Gopal Mahindra, S. Somanath, Syed Akbaruddin, and Annie George Mathew
7. 5 Wholly-Owned RBI Subsidiaries:
8. DICGC: Deposit Insurance and Credit Guarantee Corporation (insures bank deposits up to ₹5 Lakh per depositor per bank)
9. BRBNMPL: Bharatiya Reserve Bank Note Mudran Private Limited
10. ReBIT: Reserve Bank Information Technology Private Limited (manages central bank cybersecurity)
11. IFTAS: Indian Financial Technology and Allied Services
12. RBIH: Reserve Bank Innovation Hub
13. 4 Currency Printing Presses:
14. RBI-Owned (BRBNMPL): Mysuru (Karnataka) and Salboni (West Bengal)
15. Government-Owned (SPMCIL): Dewas (Madhya Pradesh) and Nashik (Maharashtra)
16. Fully Funded Research Institutes:
17. CAFRAL: Centre for Advanced Financial Research and Learning
18. IGIDR: Indira Gandhi Institute of Development Research
19. Ways and Means Advances (WMA) Limits:
20. States and Union Territories: Fixed at ₹61,008 Crore
21. Central Government (H1 FY 2026–27): Set at ₹2.5 Lakh Crore
22. Recent RBI Bilateral Accords & Initiatives:
23. ESMA Agreement: Signed with the European Securities and Markets Authority (HQ: Paris, France) to recognize CCIL (Clearing Corporation of India Limited) and other central counterparties.
24. Digital Fraud Relief: Notified a ₹25,000 one-time compensation mechanism for verified digital fraud victims via the Depositor Education and Awareness (DEA) Fund.
25. Data Center: Commissioned a High-Security Data Center in Khurda, Bhubaneswar (Odisha).
26. Bilateral Swap: Concluded a $75 Billion Bilateral Swap Arrangement (BSA) with the Bank of Japan.
27. Global Recognition: Conferred the "Initiative of the Year Award" by London-based Central Banking for its Domain Bank architecture (administered by IDRBT).
28. RBI Surveys & Digital Payment Index (DPI):
29. Financial Literacy Week (FLW): 11th edition observed Feb 9–13 under the theme "KYC Your First Step to Safe Banking".
30. Digital Payment Awareness Week (DPAW): 6th edition observed March 9–13.
31. RBI-DPI Score: Stood at 516.76 (September 2025 period; Base Year: March 2018 = 100).
32. DPI Parameter Weightages:
33. Payment Performance: 45%
34. Payment Enablers: 25%
35. Payment Infrastructure – Supply-Side Factors: 15%
36. Payment Infrastructure – Demand-Side Factors: 10%
37. Consumer Centricity: 5%
38. Consumer Surveys: UCCS (Urban Consumer Confidence Survey) and IESH (Inflation Expectations Survey of Households) conducted across 19 cities; RCCS (Rural Consumer Confidence Survey) administered across 31 States and UTs.

Revision 2: Banking Structures, RRBs & Priority Sector Lending (PSL)

1. Regional Rural Banks (RRB) Count: Consolidated from 43 down to 28 operational RRBs.
2. Statutory RRB Shareholding Pattern:
3. Central Government: 50%
4. Sponsor Bank: 35%
5. State Government: 15%
6. Priority Sector Lending (PSL) Targets:
7. RRBs: 75% of Adjusted Net Bank Credit (ANBC) or Credit Equivalent Amount of Off-Balance Sheet Exposure (CEOBE).
8. Urban Co-operative Banks (UCBs) & Small Finance Banks (SFBs): Revised down to 60%.

Revision 3: Global Reports, Indices & Sweden Comparative Rankings

1. World Migration Report (by IOM - International Organization for Migration):
2. India ranked as the world's top remittance-receiving country ($137.67 Billion).
3. Top 5 Remittance Receivers: 1. India, 2. Mexico, 3. Philippines, 4. France, 5. Pakistan.