Daily Current Affairs: September 2, 2026

Economy

India's GDP grows 7.8% in Q1 FY 2026-27 — highest in four years

A genuinely strong number, especially given global uncertainty — and one that beat almost every forecast on the table.

Sector-wise growth: Services/Tertiary sector: 10%; Financial, Real Estate, IT & Professional Services: 12.1%; Secondary sector: 8.6%; Manufacturing: 9.2%.

Good to know: This year's revised estimates use new price and production indices, with base year 2022-23 — including the Output PPI (Producer Price Index) and Banking Services Price Index (BkSPI). In August 2026, S&P Global Ratings affirmed India's 'BBB/A-2' sovereign rating with a Stable Outlook — following the 2025 upgrade of its long-term rating to 'BBB', after an 18-year gap.

GST collections rise 14.8% to ₹1,99,853 crore in August 2026

1. Gross GST (Goods and Services Tax) collections rose to ₹1,99,853 crore, up 14.8% year-on-year from ₹1,74,116 crore in August 2025.

Good to know: GST is a single indirect tax levied on the supply of goods and services across India; launched 1 July 2017; objective: "One Nation, One Tax." GST operates on four main rate slabs — 0%, 5%, 18%, and a special 40% rate.

Telangana raises ₹2,000 crore through market borrowings

1. Raised to meet immediate financial requirements, by issuing SGS (State Government Securities) — auction conducted by RBI (Reserve Bank of India).

Good to know: SGS are debt securities issued by state governments to borrow money; also commonly associated with SDLs (State Development Loans). Telangana: Capital Hyderabad; CM Revanth Reddy; Governor Shiv Pratap Shukla. National Parks: Kasu Brahmananda Reddy, Mahavir Harina Vanasthali, Mrugavani. Tiger Reserves: Amrabad, Kawal.

Banking & Finance

RBI approves Carol Furtado as interim CEO of Ujjivan Small Finance Bank

1. Appointment effective from 1 September 2026.
2. She will serve for 3 months, or until a regular MD (Managing Director) & CEO is appointed.
3. Succeeded Sanjeev Nautiyal.

RBI appoints Suman Ray as Executive Director

1. Effective from 1 September 2026.
2. As ED (Executive Director), he will oversee DICGC (Deposit Insurance and Credit Guarantee Corporation) and the Premises Department.
3. He was among 5 senior officers — along with Gunveer Singh, Monisha Chakraborty, Sudhakar Malli, and Ravi Shankar — promoted to Executive Director by the RBI earlier this year.

Tata Motors gets ECB nod for ₹40,000-crore Iveco takeover

A major cross-border truck-and-bus deal clears a key European regulatory hurdle.

International

26th SCO Summit held in Bishkek, Kyrgyzstan

A milestone anniversary edition of the regional grouping's top summit, held under a unifying theme.

1. Marks the 25th anniversary of the SCO (Shanghai Cooperation Organisation).
2. Theme: "25 Years of the SCO: Together Towards Sustainable Peace, Development and Prosperity."
3. India became a full member of the SCO in 2017.

Good to know: SCO — formed 15 June 2001; HQ Beijing, China; members: China, India, Iran, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan, Uzbekistan, Belarus. Summits of Heads of State — 2026: Kyrgyzstan; 2027: Pakistan. Summits of Heads of Government — 2026: Tajikistan.

PM Modi receives Uzbekistan's highest honour for foreign leaders

1. Conferred with Uzbekistan's "Oliy Darajali Do'stlik" Order, meaning "Order of Highest Friendship."
2. Presented by Uzbekistan President Shavkat Mirziyoyev, in Tashkent.
3. Marks the 36th honorary award conferred on PM (Prime Minister) Narendra Modi since 2016.

Sports

Germany retains FIH Men's Hockey World Cup 2026 title

A tense, tightly-fought final saw the defending champions successfully defend their crown.

Ashish Shelar elected President of Esports Games Federation

1. Maharashtra Minister Ashish Shelar elected President of the ESGF (Esports Games Federation).
2. Elected during the federation's General Body Meeting, attended by representatives from 22 states.

Lallianzuala Chhangte named Indian Footballer of the Year 2026

A record-tying achievement for the Mizoram-born forward.

Other FPAI 2026 award winners: Indian Women's Player of the Year — Manisha Kalyan; Young Player of the Year — Sanan Mohammed K; Women's Young Player of the Year — Sanfida Nongrum; Foreign Player of the Year — Miguel Figueira Damasceno; I-League Player of the Year — Phrangki Buam; Coach of the Year — Owen Coyle; Women's Coach of the Year — Anthony Andrews; Coach Education Award — Savio Medeira.

ICC removes Sri Lanka as host of Women's Champions Trophy 2027

1. ICC (International Cricket Council) withdrew Sri Lanka's hosting rights for the inaugural ICC Women's Champions Trophy 2027.
2. Reason cited: government interference in the administration of SLC (Sri Lanka Cricket).
3. Sri Lanka was set to host the first-ever edition of this women's tournament.
4. Tournament format: 6 teams — top 5 teams + host nation.

Important Day

World Coconut Day — 2 September. Highlights the importance of coconut cultivation, processing, trade, and the livelihoods of coconut farmers. 2026 theme: "Coconuts in Times of Uncertainty: Securing Food, Energy, and Livelihoods."