Current affairs · 29 July 2026
The day's most exam-relevant current affairs for UPSC, SSC, banking, railways and state exams — free, factual, revision-ready. 12 updates.
N.S. Raja Subramani Appointed as Chief of Defence Staff
N.S. Raja Subramani assumed office as the Chief of Defence Staff of India on May 31, 2026, at the age of 60. The appointment was made according to constitutional provisions and represents the highest military position coordinating the three services - Army, Navy, and Air Force.
Why it matters: Chief of Defence Staff appointment is a major constitutional and defence-related current affairs topic for all exams
Padma Awards 2026 Announced: Vijay Amritraj Receives Padma Bhushan
Indian tennis great Vijay Amritraj was conferred with Padma Bhushan, India's third-highest civilian award, on January 26, 2026. World Cup-winning cricket captains Rohit Sharma and Harmanpreet Kaur received Padma Shri, along with Indian women's hockey goalkeeper Savita Punia. Other Padma Shri awardees in sports include field hockey player Baldev Singh, para-athlete Praveen Kumar, and martial artists Bhagwandas Raikwar and K. Pajanivel.
Why it matters: Padma Awards are annually asked in static GK and current affairs sections across all competitive exams
India Records Current Account Surplus of $4.7 Billion in April 2026
India recorded a current account surplus of $4.7 billion in April 2026, reversing a $4.8 billion deficit from a year earlier, according to RBI preliminary data. Net services exports strengthened to $18.6 billion from $15.9 billion, while remittances surged to $16 billion from $9.4 billion. Foreign direct investment more than doubled to $11.4 billion.
Why it matters: Balance of payments, current account data, and external sector indicators are important for economy and banking exam questions
RBI Holds Repo Rate at 5.25%, Revises FY26-27 GDP Forecast to 6.6%
The Reserve Bank of India kept its key repo rate unchanged at 5.25% for the third consecutive meeting in June 2026 and maintained a neutral stance. The RBI lowered its GDP growth forecast for FY2026-27 to 6.6% from its earlier estimate of 6.9%, citing Middle East conflicts and weak monsoon impact. Inflation is projected to average 5.1%, up from the earlier estimate of 4.6%. Governor Sanjay Malhotra stated inflation pressures are largely supply-side.
Why it matters: RBI monetary policy decisions, repo rate, and GDP forecasts are critical for banking and economy exam sections
RBI July 2026 Bulletin: India's Economy Remains Resilient Despite Global Uncertainty
The Reserve Bank of India's July 2026 Bulletin stated that India's economy has remained resilient despite heightened global uncertainty from geopolitical tensions and supply chain disruptions. Healthy domestic demand, strong industrial and services sector performance, and robust credit growth continue to support economic activity. FDI in April-May 2026 was higher than the previous year, while FPI turned positive in June-July 2026.
Why it matters: RBI bulletins and economic assessments are frequently asked in banking and economy sections of all competitive exams
16th India-Japan Annual Summit Held in New Delhi (July 1-3, 2026)
The 16th India-Japan Annual Summit was held from July 1-3, 2026, during the official visit of Japanese Prime Minister Sanae Takaichi to India. The summit reinforced the India-Japan Special Strategic and Global Partnership, focusing on economic security, resilient supply chains, semiconductors, critical technologies, infrastructure, and defence cooperation.
Why it matters: Bilateral summits with strategic partners like Japan are crucial for IR section in UPSC and other exams
India to Host 18th BRICS Summit in 2026 as Chair
India will assume BRICS Chairship and host the 18th BRICS Summit in 2026. As chair, India is steering preparatory consultations expected to focus on development finance, global governance reform, artificial intelligence, and economic cooperation among emerging economies. India also assumed the vice-presidency of the Financial Action Task Force (FATF) in July 2026.
Why it matters: BRICS chairmanship and India's role in multilateral forums are important IR topics for all competitive exams
ISRO Launches Bharatiya Antariksh Hackathon (BAH) 2026
ISRO launched the Bharatiya Antariksh Hackathon (BAH) 2026, according to a flash news update on the official ISRO website. IN-SPACe also conducted a Short-Term Skill Development Course on SAR Data Analysis and Applications from July 6-10, 2026. ISRO also announced the second selection list for YUVIKA-2026 (Young Scientist Programme).
Why it matters: ISRO initiatives for youth and skill development are relevant for science awareness and government schemes sections
ISRO Resolves PSLV Third-Stage Anomaly After Two Consecutive Failures
ISRO successfully resolved the third-stage anomaly that caused PSLV-C62 failure in January 2026 and PSLV-C61 failure in May 2025. Union Minister Jitendra Singh confirmed the investigation committee has finalized its report. ISRO is now cleared to resume launches from Satish Dhawan Space Centre, Sriharikota, and is preparing for upcoming GSLV and PSLV missions.
Why it matters: ISRO launch vehicles, mission updates, and technical developments are frequently tested in competitive exam current affairs
ISRO Successfully Conducts Three Major Gaganyaan Crew Module Tests
ISRO announced the successful completion of three major tests of the Gaganyaan crew module systems on July 12, 2026, marking progress in India's first human spaceflight program. Tests focused on the crew module up-righting system for post-splashdown safety, using a stored cold-gas-based system. Over 8,000 ground tests have been conducted for the mission.
Why it matters: Gaganyaan mission and ISRO developments are high-priority topics for science & technology sections in all major exams
India Allocates ₹10,397 Crores for ISRO in FY 2026-27; Semi-Cryogenic Engines for LVM-3
India allocated ₹10,397 crores (approximately $1.09 billion) for Space Technology in the year 2026-27. ISRO will procure and induct semi-cryogenic rocket engines to enhance the lifting power of Launch Vehicle Mark-3 (LVM-3). These engines burn rocket-grade kerosene and super-cooled liquid oxygen, representing a significant technological upgrade for India's most powerful rocket.
Why it matters: Budget allocations for ISRO and launch vehicle upgrades are important for science & technology sections
Skyroot Aerospace Becomes India's First Space Unicorn with $1.1 Billion Valuation
Skyroot Aerospace, founded by two former ISRO scientists in 2018, achieved a historic milestone when its Vikram-1 rocket became the first privately-built Indian rocket to reach orbit in July 2026. The company raised $160 million from investors including Singapore's GIC and BlackRock-managed funds, reaching a $1.1 billion valuation and becoming India's first space unicorn.
Why it matters: Private space sector growth and startup achievements are important for economy, science & technology sections
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