Introduction:
Stay ahead in your competitive exam preparation with the Daily Current Affairs – August 6, 2025, covering crucial developments from across India and around the globe.
This comprehensive GK update includes top headlines in national and international affairs, economy, banking, defence, appointments, business, science, and more.
Whether you’re preparing for UGC NET, TRB exams, these updates will help boost your awareness and keep your knowledge up-to-date.
National Highlights
- On August 5, a cloudburst in the upper reaches of the Kheer Ganga river triggered a flash flood in Uttarkashi’s Dharali village. The deluge devastated homes, businesses, roads, and hotels, and up to 10–12 labourers are feared buried under debris. In Banala Patti, 18 goats were swept away, impacting the local economy. Rescue operations are underway by the SDRF, army units, and local officials, though the rugged terrain, heavy rainfall, and communication disruptions pose challenges. The IMD has issued warnings of heavy rain in Uttarakhand through August 10, raising the risk of continued flooding and landslides.
- The Government of India’s Ministry of Textiles is actively promoting the registration and enforcement of Geographical Indications (GI) under the Geographical Indications of Goods (Registration & Protection) Act, 1999, specifically for handloom and handicraft products. These initiatives are driven through programs like the Handloom Marketing Assistance Scheme, the National Handloom Development Programme, and the National Handicrafts Development Programme—each managed by the respective Development Commissioner offices.
Business & Corporate Moves
- JSW Steel and Japan’s JFE Steel are collaborating on a ₹5,845 crore expansion in grain‑oriented electrical steel (CRGO). JSW’s Nashik plant will expand from 50,000 to 250,000 TPA at a ₹4,300 crore investment, and the Vijayanagar unit in Karnataka will scale from 62,000 to 100,000 TPA with ₹1,545 crore in capital infusion.
- The Business Confidence Index (BCI), compiled by NCAER, surged to 149.4 in Q1 FY26 (April–June), up from 139.3 in the previous quarter. With 78.7% of firms expecting increased production, 79.1% expecting higher domestic sales, and 61% anticipating profit growth, business sentiment is notably optimistic.
- IRDAI has fined Policybazaar Insurance Brokers ₹5 crore for misleading marketing practices, including promoting certain policies as “best” without objective comparison, delaying premium transfers, and lacking transparency about commission structures.
- Paytm’s parent company, One97 Communications, is now completely free of Chinese ownership after Ant Financial (via its Netherlands-based affiliate, Antfin) sold its entire 5.84% stake worth approximately ₹3,800 crore. The exit addresses regulatory and geopolitical concerns while improving investor confidence.
- Tata Motors has announced a €3.8 billion acquisition of Italy’s Iveco (excluding its defense business)—its biggest deal since acquiring Corus in 2007. The merger enhances Tata’s position in the commercial vehicle sector, with a global combined annual sales base of over 540,000 vehicles and revenues near €22 billion. The distribution of business will be approximately 50% Europe, 35% India, and 15% elsewhere.
Appointments & Agreements
- IndusInd Bank has appointed Rajiv Anand, previously Deputy MD at Axis Bank and former MD & CEO of Axis Asset Management, as its new MD & CEO. His three-year term begins August 25, 2025 (through August 24, 2028), pending shareholder approval.
- SAP has signed an MoU with Gati Shakti Vishwavidyalaya to digitally upskill India’s logistics and transport workforce. The collaboration covers curriculum development, graduate employability, and industry linkage for research and job creation.
- During Philippine President Ferdinand Marcos Jr.’s visit to India, the two countries inked nine MoUs across defense, space, digital technology, maritime cooperation, tourism, and cultural exchange—marking 75 years of diplomatic relations.
Banking & Finance Developments
- In its 2025–26 monetary policy review, the RBI maintained the repo rate at 5.50%, reflecting steady yet cautious economic conditions. GDP growth for FY26 is forecasted at 6.5%, underpinned by robust private consumption, investments, and a favourable monsoon. While inflation fell to a 77‑month low of 2.1% in June, expectations suggest it may rise to 4.4% in Q4, with a projected annual CPI of 3.1%. The RBI has adopted a neutral stance, assessing the effects of recent rate reductions and global uncertainties before the next MPC meeting in September 2025.
- The RBI is executing a $5 billion dollar‑rupee swap settlement without rollover, a move enabled by excess rupee liquidity (₹3.60+ lakh crore). By selling dollars and absorbing rupees, the central bank aims to maintain market equilibrium without disrupting cash flows—something experts view as prudent, given strong liquidity levels.
- UPI has hit a record 707 million daily transactions as of August 2, 2025, per NPCI data. This milestone marks the first time daily transactions surpassed 700 million, doubling in just two years despite slower value growth. Last month, UPI recorded 19.5 billion transactions worth ₹25 lakh crore or more. Today, UPI represents approximately 85% of India’s digital transactions and nearly half of global real-time digital payments.
Economic Data & Projections
- India has detected ₹7 trillion in GST evasion across 91,000 cases between April 2020 and March 2025, announced by Minister of State for Finance, Pankaj Chaudhary. Of this amount, only ₹1.29 trillion has been voluntarily returned, while ₹1.78 trillion relates to fraudulent input tax credit claims—with just 7% recovered. The detection aligns with implementation of advanced technologies such as e-invoicing, risk-based audits, facial recognition, and E-way bill tracking, which have strengthened GST enforcement.
- The HSBC India Services PMI hit an 11-month high of 60.5 in July 2025, up from 60.4 in June. This continues a 48-month streak of expansion, led primarily by finance and insurance sectors, even as real estate and business services showed cautious activity.
- Deloitte India projects GDP growth of 6.4–6.7% for FY26, following the strong 6.5% growth in FY25. This outlook is driven by robust domestic demand, easing inflation, and international trade initiatives. A dynamic consumer base, strong capital markets, and a globally competitive workforce underpin the outlook, with ongoing trade negotiations expected to open new markets and boost income.
Defense & Technology
- The Defence Acquisition Council (DAC), chaired by Minister Rajnath Singh, has approved ₹67,000 crore worth of defense acquisitions. The Indian Army will get thermal-imager night-vision systems for BMP vehicles; the Navy will procure compact unmanned surface vessels and upgrade BrahMos fire-control and BARAK‑1 missile systems; the Air Force will receive mountain radars and enhancements to SAKSHAM and SPYDER platforms.
- ISRO’s Himalayan Outpost for Planetary Exploration (HOPE) facility in Ladakh launched a 10-day simulation mission at 14,000 ft to study isolation, high-altitude stress, and cold on humans—part of preparations for India’s Gaganyaan program. Two participants, selected from 135 applicants, are undergoing mental and physiological monitoring akin to astronaut routines aboard the ISS.
Obituary
- Satya Pal Malik, former Governor of Jammu & Kashmir (2018–2019), passed away in New Delhi on August 5, 2025, at age 79. He died at Ram Manohar Lohia Hospital around 1 PM after a prolonged illness. He previously served as Governor of Goa, Meghalaya, and briefly Bihar, and was a veteran socialist politician and Rajya Sabha member. During his term as J&K Governor, Article 370 was abrogated on August 5, 2019.
Click here to attend the Test :
1 Which village in Uttarkashi was affected by flash floods due to cloudburst in Kheer Ganga river?
A) Dharali
B) Banala Patti
C) Kheer Ganga
D) Uttarkashi
2 What is the total investment amount for JSW Steel’s CRGO expansion project?
A) ₹4,300 crore
B) ₹5,845 crore
C) ₹1,545 crore
D) ₹6,500 crore
3 What was the Business Confidence Index (BCI) for Q1 FY26 according to NCAER?
A) 139.3
B) 149.4
C) 155.2
D) 142.1
4 How much fine did IRDAI impose on Policybazaar Insurance Brokers?
A) ₹3 crore
B) ₹5 crore
C) ₹7 crore
D) ₹10 crore
5 Who has been appointed as the new MD & CEO of IndusInd Bank?
A) Rajiv Anand
B) Sumant Kathpalia
C) Amitabh Chaudhry
D) Prashant Kumar
6 What is the current repo rate maintained by RBI for 2025-26?
A) 5.25%
B) 5.50%
C) 5.75%
D) 6.00%
7 What record did UPI achieve as of August 2, 2025?
A) 600 million daily transactions
B) 707 million daily transactions
C) 750 million daily transactions
D) 500 million daily transactions
8 How much GST evasion has India detected between April 2020 and March 2025?
A) ₹5 trillion
B) ₹6 trillion
C) ₹7 trillion
D) ₹8 trillion
9 What is the total value of defense acquisitions approved by the Defence Acquisition Council?
A) ₹55,000 crore
B) ₹60,000 crore
C) ₹67,000 crore
D) ₹70,000 crore
10 Who was the former Governor of J&K who passed away on August 5, 2025?
A) Manoj Sinha
B) Satya Pal Malik
C) Girish Chandra Murmu
D) Jagmohan
Answers:
1) A
2) B
3) B
4) B
5) A
6) B
7) B
8) C
9) C
10) B
Conclusion:
That wraps up the major highlights from August 6, 2025, across various sectors. Regularly staying informed about current affairs is vital for cracking competitive exams and understanding key developments shaping India and the world. Make it a daily habit to revise these updates and integrate them into your exam strategy. For more detailed coverage, keep following trusted current affairs platforms—and stay exam ready!
Stay connected with us at : Professor Academy
Contact Us At:
+91 7070701005,
+91 7070701009,
+91 8807108794,
+91 8124408794
