Welcome to Selection Pro's daily current affairs for 8 August 2026. This page covers the most important recent developments relevant to UPSC, SSC, Banking, Railway, Defence and other competitive examinations. The current affairs have been selected with an emphasis on important facts, government policies, economy, science and technology, education and major national developments.
Table of Contents
- 1. RBI Classifies Tata Sons as NBFC-Upper Layer
- 2. ₹1 Lakh Crore RDI Fund Faces Transparency Questions
- 3. New Legislative Framework for UPI Merchant Charges
- 4. Cabinet Approves ₹23,731 Crore GOBARdhan Scheme
- 5. Rah-Veer Scheme and Road Safety
- 6. High-Resolution Images Reveal New Details of the Sun
- 7. Government School Numbers Decline Over the Decade
- 8. National Handloom Day 2026
- 9. LEAP India Launches ₹2,480 Crore IPO
- 10. AILET 2027 Registration Begins
- Practice MCQs
RBI Classifies Tata Sons as NBFC-Upper Layer
Why in News?
The Reserve Bank of India has classified Tata Sons Ltd. as an NBFC-Upper Layer (NBFC-UL) for 2026–27. Its application for de-registration as an NBFC is still under examination.
Key Facts
- NBFC-UL is part of RBI's Scale Based Regulation framework.
- NBFCs are regulated according to their size, complexity and systemic importance.
- The Upper Layer contains systemically important large NBFCs.
- For 2026–27, an asset-size threshold of ₹1 lakh crore is relevant for NBFC-UL identification.
- NBFC-UL entities face enhanced regulatory, governance and disclosure requirements.
Exam Takeaway
- Regulator: RBI
- Framework: Scale Based Regulation
- Category: NBFC-Upper Layer
- Important concept: Systemic financial stability
₹1 Lakh Crore RDI Fund Faces Transparency Questions
Why in News?
Questions have been raised over the selection process under India's Research, Development and Innovation (RDI) Fund, a major initiative aimed at supporting deep-tech research and innovation in the private sector.
Key Facts
- The RDI Fund has a corpus of ₹1 lakh crore.
- It focuses on long-term financing for research, development and innovation.
- Priority areas include AI, quantum technology, space, defence, robotics and semiconductors.
- The fund is administered through the Anusandhan National Research Foundation (ANRF).
- The first funding round involved applications from technology companies.
Important Governance Point
Recent reporting has raised concerns about possible conflicts of interest in the selection process. The issue highlights the importance of transparent, independent and merit-based allocation of public funds.
New Legislative Framework for UPI Merchant Charges
Why in News?
The Taxation and Other Laws (Amendment) Bill, 2026 introduced changes that create a legal framework for possible charges, including Merchant Discount Rate (MDR), on notified digital payment transactions.
Important Clarification
This does not mean that a general "UPI tax" has suddenly been imposed on users. The proposed framework concerns the possibility of merchant-side charges on eligible transactions.
Key Points
- UPI is operated through India's digital payments ecosystem led by NPCI.
- MDR means Merchant Discount Rate.
- MDR is generally a fee associated with processing digital payments.
- The development is important for digital payments, financial sustainability and payment regulation.
Cabinet Approves ₹23,731 Crore GOBARdhan Scheme
Why in News?
The Union Cabinet approved the GOBARdhan – National Circular Bioenergy Scheme with an outlay of ₹23,731 crore.
Key Facts
- GOBARdhan focuses on converting organic waste into useful resources and energy.
- The scheme supports the production of Compressed Bio-Gas (CBG).
- It is linked with circular economy and sustainable energy.
- It can contribute to waste management, rural development and energy security.
- Approved outlay: ₹23,731 crore.
Exam Focus
Remember the connection: GOBARdhan → Organic Waste → Bioenergy → Compressed Bio-Gas → Circular Economy.
Rah-Veer Scheme and Road Safety
Why in News?
Recent data highlighted limited participation in the government's Rah-Veer / Good Samaritan initiative, which encourages people to help road accident victims during the critical Golden Hour.
Key Facts
- Rah-Veer refers to people who assist road accident victims.
- The initiative is connected with Good Samaritan protections.
- The Good Samaritan Rules were notified in 2020.
- The concept focuses on helping accident victims without fear of unnecessary legal harassment.
- The term Golden Hour refers to the crucial period immediately after a serious injury when timely medical assistance can be particularly important.
High-Resolution Images Reveal New Details of the Sun
Why in News?
Scientists have obtained exceptionally detailed images of the Sun using the Daniel K. Inouye Solar Telescope (DKIST) in Hawaii.
Key Facts
- DKIST is operated by the National Solar Observatory.
- It is a major ground-based solar telescope.
- The telescope has a 4-metre primary mirror.
- The observations revealed extremely fine structures and dynamic patterns in the Sun's outer layers.
- Such observations can improve understanding of solar activity and space weather.
Exam Takeaway
- Telescope: Daniel K. Inouye Solar Telescope
- Location: Maui, Hawaii
- Mirror: 4 metres
- Field: Solar astronomy
Government School Numbers Decline Over the Decade
Why in News?
Recent analysis of government education data highlighted a significant decline in the number of government schools over the 2014–15 to 2024–25 period.
Important Data
- Government schools declined by around 94,000 over the decade.
- Total schools declined by roughly 45,000.
- The number of teachers increased during the period.
- The issue has raised questions around school consolidation, accessibility and enrolment.
Education is a subject in the Concurrent List, meaning both the Union and State Governments have legislative responsibilities in this area.
National Handloom Day 2026
Why in News?
National Handloom Day was observed on 7 August 2026 to recognise India's handloom sector, traditional weaving communities and the cultural heritage associated with Indian textiles.
Key Facts
- National Handloom Day is observed on 7 August.
- The day commemorates the launch of the Swadeshi Movement in 1905.
- It promotes awareness about India's handloom traditions and weavers.
- The 2026 celebrations marked the 12th National Handloom Day.
- The Ministry of Textiles is the key Union ministry associated with the sector.
Quick Memory Trick
7 August → National Handloom Day → Swadeshi Movement → 1905.
LEAP India Launches ₹2,480 Crore IPO
Why in News?
Logistics solutions provider LEAP India launched its ₹2,480 crore Initial Public Offering (IPO) on 7 August 2026.
Key Facts
- Company: LEAP India
- IPO size: ₹2,480 crore
- Sector: Logistics and supply-chain solutions
- IPO launch date: 7 August 2026
- The issue is relevant to current affairs under economy, capital markets and IPOs.
AILET 2027 Registration Begins
Why in News?
The National Law University, Delhi announced the admission schedule for AILET 2027, with registrations beginning on 7 August 2026.
Key Facts
- AILET stands for All India Law Entrance Test.
- Conducting institution: National Law University, Delhi.
- AILET 2027 examination date: 13 December 2026.
- The examination is relevant for admission to law programmes at NLU Delhi.
- Registration began on 7 August 2026.
Quick Revision: 8 August 2026
- RBI classified Tata Sons as NBFC-UL.
- RDI Fund has a ₹1 lakh crore corpus.
- UPI-related legislative changes concern possible merchant-side MDR.
- GOBARdhan scheme approved with ₹23,731 crore outlay.
- Rah-Veer is linked with Good Samaritan protections and road safety.
- DKIST captured highly detailed observations of the Sun.
- Government school numbers declined significantly over the decade.
- National Handloom Day is observed on 7 August.
- LEAP India launched a ₹2,480 crore IPO.
- AILET 2027 registration began on 7 August 2026.
Practice MCQs
Test your preparation with these current-affairs questions.
Q1. RBI classified Tata Sons under which category?
A. NBFC-Base Layer
B. NBFC-Middle Layer
C. NBFC-Upper Layer
D. NBFC-Top Layer
Answer: C. NBFC-Upper Layer
Q2. What is the corpus of India's RDI Fund?
A. ₹25,000 crore
B. ₹50,000 crore
C. ₹75,000 crore
D. ₹1 lakh crore
Answer: D. ₹1 lakh crore
Q3. MDR in digital payments stands for:
A. Market Digital Rate
B. Merchant Discount Rate
C. Merchant Digital Revenue
D. Money Distribution Rate
Answer: B. Merchant Discount Rate
Q4. What is the approved outlay of the GOBARdhan National Circular Bioenergy Scheme?
A. ₹12,500 crore
B. ₹18,731 crore
C. ₹23,731 crore
D. ₹32,701 crore
Answer: C. ₹23,731 crore
Q5. Rah-Veer is primarily associated with:
A. Cybersecurity
B. Road accident assistance
C. Railway safety
D. Disaster insurance
Answer: B. Road accident assistance
Q6. The Daniel K. Inouye Solar Telescope is located in:
A. California
B. Hawaii
C. Florida
D. Texas
Answer: B. Hawaii
Q7. National Handloom Day is observed on:
A. 5 August
B. 6 August
C. 7 August
D. 8 August
Answer: C. 7 August
Q8. What was the size of the LEAP India IPO?
A. ₹1,280 crore
B. ₹1,980 crore
C. ₹2,480 crore
D. ₹3,480 crore
Answer: C. ₹2,480 crore
Q9. AILET is conducted for admission to which field?
A. Engineering
B. Medicine
C. Law
D. Management
Answer: C. Law
Q10. The RDI Fund is administered through which organisation?
A. RBI
B. SEBI
C. ANRF
D. NITI Aayog
Answer: C. ANRF
Final Takeaways
- Tata Sons → NBFC-Upper Layer
- RDI Fund → ₹1 lakh crore
- GOBARdhan → ₹23,731 crore
- National Handloom Day → 7 August
- DKIST → Solar Telescope → Hawaii
- LEAP India IPO → ₹2,480 crore
- AILET → National Law University, Delhi
Frequently Asked Questions
What are today's current affairs for 8 August 2026?
The important topics include RBI's classification of Tata Sons as NBFC-UL, the RDI Fund, UPI-related legislative changes, GOBARdhan, Rah-Veer, solar observations, National Handloom Day, LEAP India's IPO and AILET 2027.
Which current affairs are important for SSC exams?
SSC aspirants should focus especially on government schemes, important days, economy, major appointments, science and technology and important national developments.
Which current affairs are useful for UPSC?
UPSC aspirants should focus on the background, significance, constitutional aspects, governance, economy, environment, science and technology behind each major development rather than memorising only headlines.
Where can I practice current affairs questions?
You can use the practice MCQs provided on this page for quick revision and exam preparation.