Current Affairs 2 September 2026
30 exam-ready stories for 2 September 2026: India's first A-category sovereign rating in decades, the April–June balance of payments, a new indigenous glide bomb, a BRICS meeting of IP office heads, court rulings on maternity rights and EVM totalisers, and the day's awards, appointments and sport.
On this page
Key facts at a glance
The numbers and names most likely to turn up in Prelims, Phase 1 or a GA section.
| Topic | What to remember | Source, date |
|---|---|---|
| JCR sovereign rating | A- from BBB+, stable; country ceiling A | JCR, 2 Sept |
| Current account deficit, Q1 FY27 | $4.2 billion (0.5% of GDP) | RBI, 1 Sept |
| Merchandise trade deficit, Q1 | $86.1 billion | RBI, 1 Sept |
| Overall BoP, Q1 | Deficit of $8.1 billion | RBI, 1 Sept |
| GIFT IFSC FCNR(B) swap | $136.38 billion mobilised by 31 Aug | RBI |
| Maternity Benefit Act, Sec. 12 | Bars adverse change in service conditions | Delhi HC, 31 Aug |
| Khagantak-243 | 300 kg-class glide bomb, 140+ km; JSR Dynamics and BEL | IAF, 2 Sept |
| Aero India 2027 | 16th edition, 8–12 Feb 2027, Yelahanka | MoD, 2 Sept |
| ICC Women's Champions Trophy | India, 14–28 Feb 2027, six teams | ICC, 2 Sept |
| World Coconut Day | 2 Sept; ICC founded 1969 | 2 Sept |
Economy
5 storiesJapan Credit Rating Agency upgrades India to A- with a stable outlook
Japan Credit Rating Agency raised India's long-term foreign-currency and local-currency issuer ratings by one notch, from BBB+ to A-, on 2 September 2026, with a stable outlook. It also lifted India's country ceiling to A. This is the first A-category sovereign rating given to India by a major international agency in more than 35 years. The agency pointed to growth of about 7%, reforms such as GST and digital public infrastructure, and stronger bank balance sheets, with gross non-performing loans down to about 1.8% by March 2026. It also noted that general-government debt remains high, and the Ministry of Finance welcomed the upgrade.
Current account deficit widens to $4.2 billion in April–June 2026
Balance of payments data released by the Reserve Bank of India on 1 September show a current account deficit of $4.2 billion, or 0.5% of GDP, for April–June 2026, compared with $3.4 billion (0.4% of GDP) a year earlier. The merchandise trade deficit rose to $86.1 billion from $68.9 billion. Net services receipts increased to $51.6 billion and private transfers, mostly remittances, rose to $42.9 billion, which offset much of the goods deficit. Foreign portfolio investors withdrew a net $9.6 billion, so the capital account showed a net outflow of $3.9 billion despite net FDI of $6.1 billion. The overall balance of payments recorded a deficit of $8.1 billion for the quarter.
Economists raise FY27 growth forecasts after the 7.8% first-quarter figure
After real GDP grew 7.8% in April–June 2026, economists raised their consensus growth forecast for 2026-27 to about 7.2% from 6.7%, and SBI Research revised its own estimate to 7.3%. The first-quarter figure was above market expectations for the twelfth consecutive quarter. Retail inflation stood at 4.45% in July, above the RBI's 4% medium-term target for a second straight month. The minutes of the Monetary Policy Committee meeting held from 3 to 5 August indicated that members were watching inflation closely. The RBI had initially projected growth of 6.7% for FY27.
Monthly review: industrial output up 6.7% and exports at $80.14 billion in July
A government economic update released with the first-quarter GDP data noted that the tertiary sector grew 10.0% and the secondary sector 8.6% in April–June, with manufacturing up 9.2%. Gross fixed capital formation rose 11.9% and private household consumption 7.1%. For July 2026, the Index of Industrial Production rose 6.7%, and combined exports of goods and services reached $80.14 billion, up 13.31% from a year earlier. The update also recorded that S&P Global Ratings had affirmed India's BBB rating with a stable outlook in August. Bank credit growth was reported at 20.0% for industry and 22.9% for services.
Russian oil imports fall 26% in August as Venezuelan supplies rise
India's crude imports from Russia fell about 26% in August to 2.08 million barrels per day, from 2.82 million in July, according to ship-tracking estimates cited in reports. Lower Russian export availability, competition from Chinese refiners and maintenance shutdowns at Indian refineries were cited as reasons. Total oil imports declined more than 8% to about 4.62 million barrels per day. Imports from Venezuela rose about 60% to 350,000 barrels per day, the highest monthly level since 2020. Russia's share of India's crude imports fell from about 56% in July to 45% in August.
Banking & Markets
1 storyRBI's GIFT IFSC FCNR(B) swap window mobilises $136.38 billion
The RBI's GIFT IFSC FCNR(B) Swap Facility, opened on 8 June 2026, had mobilised a total of $136.38 billion by its 31 August cut-off, according to figures reported on 2 September. Of this, $127.23 billion came through FCNR(B) deposits, $5.26 billion through offshore foreign currency borrowings and $3.89 billion through external commercial borrowings. The FCNR(B) leg has closed, while the ECB and offshore borrowing legs remain open until 31 December 2026. Under the facility, banks could swap the dollars they raised with the RBI, which helped add to foreign exchange reserves. FCNR(B) deposits are held in foreign currency, so the depositor does not bear exchange-rate risk.
Polity & Governance
6 storiesDelhi High Court: return from maternity leave must restore the earlier role
In a judgment dated 31 August 2026 in Rakhi Bisht v. Union of India, the Delhi High Court held that a woman returning from maternity leave is entitled to her earlier post or an equivalent one in role, authority and prospects, not only the same pay and designation. The petitioner, a chartered accountant, had been moved to a different department with no reporting staff after her leave. The Court awarded ₹10 lakh as compensation and ₹1.5 lakh as costs, and asked the Union to frame rules within six months on role protection, lactation support, crèches and grievance redress. Section 12 of the Maternity Benefit Act, 1961 bars an employer from changing a woman's service conditions to her disadvantage during maternity absence. The 2017 amendment raised paid maternity leave from 12 to 26 weeks.
Supreme Court seeks the Centre's view on totalisers for counting EVM votes
On a petition by advocate Ashwini Kumar Upadhyay, the Supreme Court sought the Centre's response on using totalisers, devices that combine votes from several EVMs so that booth-wise results are not disclosed. The Election Commission told the Court that neither the Representation of the People Act nor the Conduct of Election Rules, 1961 provides for totalisers, so their use would need changes to the law. Three of the six national parties were reported to have opposed the idea. The Law Commission had recommended selective use of totalisers in its 255th report. At present, Form 17C lets candidates check the vote count of each polling station.
The 'distinguished jurist' route to the Supreme Court explained
Article 124(3) of the Constitution allows three routes to appointment as a Supreme Court judge: five years as a High Court judge, ten years as an advocate of a High Court, or being a distinguished jurist in the opinion of the President. No judge has so far been appointed through the third route. The question was raised by Hon'ble Justice Ujjal Bhuyan of the Supreme Court at the 13th convocation of National Law University Delhi on 30 August 2026. The 42nd Amendment of 1976 had added a similar route for High Court judges under Article 217, but the 44th Amendment of 1978 removed it. Under the Third Judges case of 1998, the Supreme Court collegium consists of the Chief Justice of India and the four senior-most judges.
Most gig workers yet to register on e-Shram
The Union Budget for 2025-26 announced health cover for gig workers registered on the e-Shram portal, and estimated that more than one crore workers could benefit. Registrations are uneven across States, and some highly urbanised States are not among the top ten. e-Shram is an Aadhaar-seeded national database of unorganised workers run by the Ministry of Labour and Employment. NITI Aayog had projected about 1.27 crore gig workers in 2024-25, and the Code on Social Security, 2020 is the first law to define gig and platform workers.
Punjab launches 'Pehchaan' portal to identify unclaimed bodies
Punjab's Health and Family Welfare Minister Dr. Balbir Singh launched Pehchaan on 2 September 2026, a statewide digital portal to help identify unidentified and unclaimed deceased persons kept in government mortuaries. Punjab is reported to be the first State to put such a system in place. Photographs and identification marks are uploaded within 48 hours, and investigating officers receive automatic alerts through integration with the Crime and Criminal Tracking Network and Systems. The aim is to help families trace missing relatives more quickly.
CCPA fines Dial4Trade ₹10 lakh over listings of ammonium nitrate
The Central Consumer Protection Authority imposed a penalty of ₹10 lakh on the e-commerce platform Dial4Trade on 2 September 2026 for listing ammonium nitrate for sale. Ammonium nitrate is a regulated substance because it can be misused as an explosive, and its sale is controlled under the Ammonium Nitrate Rules, 2012. The Authority also said seven other platforms were under review for similar listings. The CCPA was set up under the Consumer Protection Act, 2019 to protect consumers against unfair trade practices, misleading advertisements and unsafe goods. The case shows how consumer law is being applied to online marketplaces.
International Relations
2 storiesMEA condemns the demolition of a temple in Narowal, Pakistan
India's Ministry of External Affairs issued a statement on 2 September 2026 on the demolition of a century-old Hindu temple in Siraj village in Narowal district of Pakistan's Punjab province. Official Spokesperson Shri Randhir Jaiswal described it as a 'reprehensible act of vandalism' against a minority place of worship. India asked for the incident to be investigated. The protection of places of worship of minorities is covered in India–Pakistan understandings dating back to the Nehru–Liaquat Pact of 1950.
18th meeting of BRICS Heads of IP Offices in New Delhi
The 18th Meeting of the Heads of Intellectual Property Offices of BRICS countries was held in New Delhi from 1 to 3 September 2026. It was hosted by the Office of the Controller General of Patents, Designs and Trade Marks under DPIIT, Ministry of Commerce and Industry. Around 35 delegates took part in person and online. The heads of the IP offices reaffirmed their commitment to multilateral cooperation in intellectual property. The discussions were aligned with the theme of India's BRICS Chairship, 'Building for Resilience, Innovation, Cooperation and Sustainability'.
World
2 storiesFresh US–Iran exchanges of fire in southern Iran and the Gulf
The United States carried out new strikes on targets linked to Iran's Islamic Revolutionary Guard Corps on 1 September, saying they followed attacks on commercial vessels in the Strait of Hormuz and on US personnel. Iran responded with missiles and drones aimed at several sites in the region. Iranian officials said a strike in Kuhestak in Hormozgan province hit a home hosting a wedding, killing five people and injuring dozens, and Iran described the incident as a war crime. The exchanges ended about a month without military action between the two sides. Around a fifth of the world's oil normally passes through Hormuz, so the developments affect oil prices for importers such as India.
Nepal flood traced to a glacier detachment on Langtang Lirung
Recent floods in Nepal were traced to a glacier detachment, possibly including bedrock, on the northern slopes of Langtang Lirung peak. The debris temporarily dammed the Lhende river, and the dam then failed, sending a flood downstream. The flood caused damage along about 100 km, including to hydropower projects and villages in Nuwakot district, and experts described it as a very rare event. Studies note that many recent extreme events in the Himalayas started at locations that had not been identified as hazards beforehand. The event underlines the value of satellite monitoring, ground stations and local early warning in mountain areas.
Schemes & Missions
4 storiesShri Shivraj Singh Chouhan reviews PM Dhan-Dhaanya Krishi Yojana
Union Minister of Agriculture and Farmers Welfare Shri Shivraj Singh Chouhan reviewed the progress of the Prime Minister Dhan-Dhaanya Krishi Yojana at Krishi Bhawan, New Delhi, on 2 September 2026. The scheme covers 100 districts with low productivity, low cropping intensity and limited access to farm credit, and it works by converging 36 Central schemes across 11 Ministries and Departments. Its six objectives cover productivity, crop diversification, post-harvest storage, irrigation, credit and governance. The average district performance score rose from 22.54 to 38.85 between April and July 2026, measured on 121 indicators tracked every month.
Semicon 2.0 design incentives: seed funds and sales-linked support
Details of Semicon 2.0, the ₹1,27,500 crore semiconductor programme notified at the end of August, show a strong emphasis on chip design and Indian intellectual property. Design firms can receive milestone-linked seed funding of up to ₹15 crore or 50% of project costs, and a deployment-linked incentive reimburses 9% of net sales for five years. Manufacturing units can receive capital support of 30% to 40%, with the higher rate for large silicon wafer fabs. Companies founded by Overseas Citizens of India qualify if they are incorporated and headquartered in India. Union Minister Shri Ashwini Vaishnaw said the scheme could help India win close to 10% of the global semiconductor market.
Chhattisgarh ranks first in Jal Sanchay Jan Bhagidari 3.0
Chhattisgarh was ranked first in the country under Jal Sanchay Jan Bhagidari 3.0, part of the Jal Shakti Ministry's Catch the Rain campaign, as of 2 September 2026. The State had completed 77,719 of the 79,775 water-conservation structures it registered. Chief Minister Shri Vishnu Deo Sai presented the State's approach at a national event in New Delhi, including a '5 Per Cent Model' developed in Koriya district. The campaign encourages community participation in building rainwater harvesting and recharge structures. It is run under the broader Jal Shakti Abhiyan.
Jan Ganga: community participation under Namami Gange
A PIB feature described Jan Ganga, the public participation pillar of the Namami Gange Programme, which aims to turn awareness about the river into community ownership of its rejuvenation. Activities include the annual Ganga Swachhta Pakhwada cleanliness drive held from 16 to 31 March across the five main-stem Ganga basin States and Delhi. Volunteers called Ganga Praharis work on conservation at the grassroots, while Ganga Seva Doots carry outreach into schools and institutions. Plantation drives are held under the 'Ek Ped Maa Ke Naam' campaign, and Ganga Utsav marks the river's status as India's National River. The Namami Gange Programme was launched in 2014.
Environment
3 storiesInternational Workshop on Tiger Landscapes opens in New Delhi
Union Minister for Environment, Forest and Climate Change Shri Bhupender Yadav inaugurated a two-day International Workshop on Tiger Landscapes in New Delhi on 2 September 2026. It was organised by the International Big Cat Alliance with the Asian Development Bank and the National Tiger Conservation Authority. The theme linked tiger conservation with the bio-economy and ecotourism as sources of livelihood and income. The IBCA and ADB signed a memorandum of understanding at the workshop, which was attended by delegations from Bangladesh, Bhutan, Cambodia, Malaysia, Nepal and Vietnam. The IBCA was launched by India in 2023 to conserve seven big cat species.
FSSAI proposes red hexagonal warning labels on the front of food packs
The Food Safety and Standards Authority of India has proposed red, hexagonal front-of-pack warning labels for packaged foods that are high in sugar, salt, refined carbohydrates or unhealthy fats, with a separate warning for sweetened beverages. The proposal follows a Supreme Court direction asking the regulator to act on front-of-pack labelling. The aim is to help consumers make healthier choices and to address rising obesity, especially among children. Comments have focused on the threshold of two or more unhealthy ingredients and on the size of the label text. An earlier health star rating model had been proposed by FSSAI but was not adopted.
Jammu and Kashmir plans flood early warning at three hydro projects
Jammu and Kashmir is installing early flood warning systems upstream of the dams and barrages of three hydroelectric projects, Baglihar, Upper Sindh and Parnai, to give one to two hours of warning before flash floods. The plan also includes a GIS-based multi-hazard risk atlas and an MoU with the Geological Survey of India for landslide forecasting. A dedicated disaster management training institute is also proposed. Kishtwar, Doda and Ramban districts have been identified as highly vulnerable to landslides and glacial lake outburst floods. A cloudburst is generally defined as rainfall above 100 mm per hour over a small area.
Defence
3 storiesIAF tests the indigenous Khagantak-243 long-range glide bomb
The Indian Air Force successfully tested the indigenous Khagantak-243 glide bomb on 2 September 2026. It is a 300 kg-class precision-guided weapon with a range of more than 140 km when released from about 12,000 metres. The airframe and control system were developed by JSR Dynamics, and the electronics and guidance by Bharat Electronics Limited. The weapon is designed for integration with the Su-30MKI fighter. Glide bombs have no engine and use wings to travel long distances after release, allowing aircraft to strike targets from outside the range of many air defences.
Aero India 2027 to be held in Bengaluru from 8 to 12 February
The Department of Defence Production announced on 2 September 2026 that the 16th edition of Aero India will be held from 8 to 12 February 2027 at Air Force Station Yelahanka, Bengaluru. Aero India is a biennial air show and aerospace exhibition and is among the largest events of its kind in Asia. The 15th edition, held from 10 to 14 February 2025, had about 900 exhibitors, including around 150 foreign companies. The show is organised by the Ministry of Defence. It has been held in Bengaluru since its first edition in 1996.
Surgeon Vice Admiral Dilip Raghavan takes over as DG Hospital Services (Armed Forces)
Surgeon Vice Admiral Dilip Raghavan assumed charge as Director General Hospital Services (Armed Forces) on 2 September 2026. The post is part of the Armed Forces Medical Services, which provides medical care to personnel of the Army, Navy and Air Force and their families. The DGHS (AF) oversees the network of service hospitals. The appointment followed other senior medical changes on 1 September, including a new Director General Armed Forces Medical Services. Surgeon Vice Admiral is a three-star rank in the Navy's medical branch.
Appointments
2 storiesAir Marshal (Retd) Jeetendra Mishra named first CEO of the Ram Janmabhoomi Trust
The Shri Ram Janmabhoomi Teerth Kshetra Trust announced its first administrative reshuffle on 2 September 2026. Air Marshal (Retd) Jeetendra Mishra was appointed its first full-time Chief Executive Officer after selection from 5,585 applicants by a search committee headed by retired Justice Pramod Kohli. He is a former IAF fighter pilot who headed the Western Air Command before retiring in April 2026. Swami Govind Dev Giri was named General Secretary and Shri Mahesh Bhagchandka Treasurer, and new trustees were also added. The Trust was set up by the Union Government in February 2020 to oversee construction and management of the temple at Ayodhya.
Tenzing Norgay National Adventure Awards 2024 announced
The Ministry of Youth Affairs and Sports announced the Tenzing Norgay National Adventure Awards 2024 on 2 September 2026. Baljeet Kaur and Skalzang Rigzin were selected for land adventure, Rimo Saha for water adventure, and Shiv Prasad Chamoli for lifetime achievement. Each awardee will receive a bronze statuette, a certificate, a blazer and ₹15 lakh. Hon'ble President Smt. Droupadi Murmu will confer the awards at Rashtrapati Bhavan along with the National Sports Awards 2025.
Sports
1 storyIndia to host the first ICC Women's Champions Trophy in February 2027
The ICC Board announced on 2 September 2026 that India will host the inaugural ICC Women's Champions Trophy from 14 to 28 February 2027. Matches will be played in Mumbai and Vadodara. Six teams, Australia, England, India, New Zealand, South Africa and Sri Lanka, will play a round-robin, with the final on 28 February. Reports said hosting rights had earlier been with Sri Lanka. The ICC is chaired by Shri Jay Shah.
Important Days
1 storyWorld Coconut Day observed on 2 September
World Coconut Day was observed on 2 September 2026 with the theme 'Coconuts in Times of Uncertainty: Securing Food, Energy and Livelihoods'. The day marks the founding in 1969 of the International Coconut Community, earlier called the Asian and Pacific Coconut Community, and has been observed since 2009. India's main event was held at ICAR-Central Plantation Crops Research Institute in Kasaragod, Kerala. India is among the world's largest producers of coconut, with Kerala, Karnataka and Tamil Nadu as the leading States. The Coconut Development Board under the Ministry of Agriculture coordinates development of the crop.
Quick-revision MCQs
Tap an option to check it. Every question comes from the stories above.
Q1.Japan Credit Rating Agency upgraded India's sovereign rating on 2 September 2026 to:
Answer: C. JCR raised the rating one notch from BBB+ to A- with a stable outlook; the country ceiling went to A.
Q2.India's current account deficit for April–June 2026 was:
Answer: B. The CAD was $4.2 billion (0.5% of GDP). $8.1 billion was the overall BoP deficit and $9.6 billion the FPI outflow.
Q3.Khagantak-243, tested by the IAF on 2 September 2026, is a:
Answer: B. It is a 300 kg-class glide bomb with a range of over 140 km, developed by JSR Dynamics and BEL.
Q4.Which constitutional provision includes the 'distinguished jurist' route to the Supreme Court?
Answer: B. Article 124(3)(c) allows a distinguished jurist, in the opinion of the President, to be appointed.
Q5.Section 12 of which Act bars an employer from changing a woman's service conditions to her disadvantage during maternity absence?
Answer: B. The Delhi High Court relied on Section 12 of the Maternity Benefit Act, 1961.
Q6.The 18th Meeting of the Heads of IP Offices of BRICS countries in New Delhi was hosted by:
Answer: A. It was hosted by the Office of the Controller General of Patents, Designs and Trade Marks, DPIIT.
Q7.World Coconut Day on 2 September marks the founding of the:
Answer: B. The International Coconut Community, earlier the Asian and Pacific Coconut Community, was founded in 1969.
Q8.Aero India 2027 will be held at:
Answer: B. The 16th edition is scheduled for 8–12 February 2027 at Air Force Station Yelahanka, Bengaluru.
Q9.World Coconut Day marks the founding in 1969 of:
Answer: B. It marks the founding of the International Coconut Community, formerly the Asian and Pacific Coconut Community.
Q10.The Central Consumer Protection Authority was established under:
Answer: B. The CCPA was set up under the Consumer Protection Act, 2019.
Source: PIB, RBI, The Indian Express, The Times of India, Hindustan Times and The Hindu.
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