Daily Current Affairs: August 29, 2026

Part 1: Current Affairs (Today's News)

Capital Markets & Financial Apex Bodies

Sandeep Sikka and Vishal Kapoor appointed to lead AMFI (Association of Mutual Funds in India)

The Association of Mutual Funds in India (AMFI) has announced new leadership to guide the domestic asset management industry.

Good to know — AMFI Profile:

1. Institutional Role: Serves as the apex representative and self-regulatory organization for all Asset Management Companies (AMCs) registered under the Securities and Exchange Board of India (SEBI).
2. Mandate: Promotes ethical standards, investor education, and regulatory compliance across the Indian mutual fund industry.

Prudential PLC to divest 2% equity stake in ICICI Prudential AMC for ₹3,190 Crore

British insurance group Prudential PLC announced an open-market sale of a 2% equity holding in ICICI Prudential Asset Management Company, valued at ₹3,190 Crore.

Good to know — SEBI Public Shareholding Norms for Listed Entities:

1. 5-Year Milestone: Under SEBI (Securities and Exchange Board of India) Initial Public Offering (IPO) regulations, an unlisted company that goes public must expand its Minimum Public Shareholding (MPS) to at least 15% within 5 years of listing.
2. 10-Year Milestone: Public shareholding must reach at least 25% within 10 years of listing.

Financial Inclusion & Government Schemes

Pradhan Mantri Jan Dhan Yojana (PMJDY) completes 12 years of operations

The world’s largest financial inclusion initiative, Pradhan Mantri Jan Dhan Yojana (PMJDY), marked its 12th anniversary on August 28, 2026 (launched nationwide on August 28, 2014).

Core Features & Regulatory Guidelines of PMJDY

1. National Slogan: "Mera Khata, Bhagya Vidhata" (My Account, My Destiny).
2. Minimum Balance Requirement: Zero-balance (Basic Savings Bank Deposit Account - BSBDA) with no penalty fees.
3. Accidental Insurance Cover: Free RuPay accidental insurance cover of ₹2 Lakh (enhanced from ₹1 Lakh in 2018). Condition: The RuPay card must have been used for at least one financial or non-financial transaction in the 90 days prior to the accident.
4. Overdraft (OD) Facility:
5. Up to ₹10,000 available after 6 months of satisfactory account operations.
6. Overdraft up to ₹2,000 available without conditions.
7. Restricted to one account per household (preferably granted to the woman of the house).
8. The upper age ceiling to avail of the OD facility has been raised from 60 years to 65 years (eligible age bracket: 18 to 65 years).

Macroeconomic Indicators & Industrial Output

India's industrial output (IIP) expands by 6.7% in July 2026

Data released by the Central Government shows India's Index of Industrial Production (IIP) grew by 6.7% in July 2026, moderating slightly from the 7.3% growth recorded in June 2026.

Multilateral Diplomacy & Global Summits

India to host 18th BRICS Summit in New Delhi (September 12–13, 2026)

India will convene world leaders for the 18th annual BRICS Summit at the Bharat Mandapam Convention Centre in New Delhi.

Emerging Technology & Higher Education

India's first dedicated Quantum and AI University Campus approved in Amaravati

Andhra Pradesh Chief Minister N. Chandrababu Naidu approved the establishment of India's first specialized higher education campus dedicated entirely to Quantum Computing and Artificial Intelligence.

Defence Procurements, Facilities & Maritime Assets

Indian Army signs $93 Million FMS (Foreign Military Sales) deal for Javelin Anti-Tank Missiles

The Ministry of Defence concluded a $93 million government-to-government agreement under the United States Foreign Military Sales (FMS) program to procure the FGM-148 Javelin shoulder-fired, fire-and-forget Anti-Tank Guided Missile (ATGM) system.

Indian Navy inducts first indigenous Multi-Purpose Vessel (MPV) 'Samarthak'

The Indian Navy took delivery of its first indigenously designed and built Multi-Purpose Vessel (MPV) named 'Samarthak'. The specialized auxiliary vessel was constructed by Larsen & Toubro (L&T) Shipbuilding at its Kattupalli Shipyard near Chennai, Tamil Nadu.

Defence Minister lays foundation stone for ₹472 Crore T-Series Tank Overhaul Facility in Jabalpur

Union Defence Minister Rajnath Singh laid the foundation stone for a modern tank overhaul and maintenance plant in Madhya Pradesh.

Sports & International Honors

R. Praggnanandhaa becomes first Indian to win Grand Chess Tour Title

Indian Grandmaster R. Praggnanandhaa scripted history in St. Louis, USA, by winning the Grand Chess Tour title, defeating defending champion and World No. 2 Fabiano Caruana (USA) to claim the $200,000 top prize purse.

Tennis legend Roger Federer to enter International Tennis Hall of Fame

Twenty-time Grand Slam singles champion Roger Federer (Switzerland, retired in 2022) has been selected for induction into the prestigious International Tennis Hall of Fame located in Newport, Rhode Island, USA.

Velavan Senthilkumar wins Budapest Squash Open 2026

Indian squash star Velavan Senthilkumar secured the men's singles championship title at the Budapest Squash Open in Hungary by defeating home favorite Balázs Farkas.

Obituaries & Important Days

King Harald V of Norway passes away

King Harald V of Norway passed away after reigning from 1991 to 2026. At the time of his passing, he held the distinction of being Europe's oldest living monarch.

World Sanskrit Day observed on August 28

1. Significance: Celebrated annually on Shravan Purnima (the full moon day of the Hindu month of Shravana).
2. Origins: The Government of India formally declared Shravan Purnima as World Sanskrit Day in 1969.
3. Sanskrit Week: Nationwide observance of Sanskrit Week was instituted in 2001.

National Sports Day (Rashtriya Khel Divas) celebrated on August 29

1. Historical Significance: Commemorates the birth anniversary of hockey wizard Major Dhyan Chand (born August 29, 1905).
2. 2026 Official Theme: "Tribute, Play and Move".
3. Observance History: First instituted in 1995, with nationwide annual celebrations formalized in 2012.

REVISION: Joint Defence Exercises: Complete Master Directory

1. Multilateral Joint Exercises

2. Trilateral Joint Exercise

1. Exercise Dosti (17th Edition): Coast guard trilateral exercise conducted among India, Maldives, and Sri Lanka; hosted in Malé, Maldives.

3. Bilateral Joint Exercises (India and Partner Nations)