1. Ex-RBI Governor Urjit Patel Appointed As IMF Executive Director For 3 Years

The Centre has approved the appointment of former Reserve Bank of India governor Dr Urjit Patel, one of the main architects of India’s inflation-targeting framework for monetary policy, as the Executive Director (ED) at the International Monetary Fund, for a period of three years.

This marks a return to the institution where Patel, a Kenyan-born Indian economist, began his career more than three decades ago. He worked at the International Monetary Fund for five years, first in Washington DC then came to India in 1992 as the IMF’s deputy resident representative in New Delhi.

Foot Notes:-
About IMF :-
Founded: July 1944
Managing Director: Kristalina Georgieva
Headquarters : Washington, D.C.
 

2. Sanjay Seth Inaugurates MILMEDICON 2025 In New Delhi

Raksha Rajya Mantri Shri Sanjay Seth inaugurated MILMEDICON 2025, an international conference centred on physical and mental trauma in military settings, at the Manekshaw Centre, New Delhi. The event highlights trauma care, AI in military medicine, and the centenary celebration of the Military Nursing Service.

MILMEDICON 2025 focuses on trauma care in combat zones and enhancing global medical cooperation.The event aligns with India’s push for innovation and modernisation in military medicine. The conference honours the centenary of the Military Nursing Service, recognizing women’s contributions in military healthcare. It highlights the vital role of women in battlefield and leadership positions.

3. Andhra Pradesh State Investment Promotion Board Approves ₹53,922 Crore Investment Projects

The State Investment Promotion Board (SIPB) of Andhra Pradesh, chaired by Chief Minister N. Chandrababu Naidu, approved 30 new investment projects worth ₹53,922 crore at its 10th meeting. These projects are expected to generate 83,437 new jobs, reaffirming Andhra Pradesh’s position as a major industrial and infrastructure hub. The projects span diverse sectors including renewable energy, automotive, telecom, and green technology.

Notable approvals include: HFCL – ₹1,197 crore at Madakasira, Apollo Tyres – ₹1,100 crore in Chittoor district, Dhirubhai Ambani Green Tech Park – ₹1,843 crore at Krishnapatnam, Serentika Renewables – ₹2,000 crore in Anantapur. Key focus areas include Ease of Doing Business, electric mobility (Mahindra EV plant), food processing and horticulture (especially in Chittoor & Rayalaseema), and MSME parks in every assembly constituency.

Foot Notes:-
About Andhra Pradesh:
Chief Minister: N. Chandrababu Naidu
Governor: S. Abdul Nazeer
Capital: Amaravati
 

4. Delhi Chief Minister Rekha Gupta Flags Off ‘U-Special’ Bus Service for Delhi University Students

Delhi Chief Minister Rekha Gupta flagged off a new fleet of ‘U-Special’ buses to improve daily commute for Delhi University students. The service revives the long-defunct U-Special buses, making them electric, modern, and student-friendly.

The initiative aims to provide a safe, cost-effective, and sustainable transport option for university students. CM also addressed concerns over the Delhi Metro fare hike (effective 25 August 2025): Fare raised by ₹1–₹4 depending on distance; ₹5 hike on the Airport Express Line. Government considering metro concession passes for students to reduce financial burden.

Foot Notes:-
About Delhi:
Chief Minister: Rekha Gupta

5. Mastercard and Infosys Collaborate to Scale Cross-border Payments

Infosys (NSE, BSE, NYSE: INFY), a global leader in next generation digital services and consulting, announced a strategic collaboration with Mastercard to offer financial institutions enhanced access to Mastercard Move, its portfolio of money movement capabilities.

The solution’s seamless integration with Infosys Finacle, part of EdgeVerve Systems, a wholly owned subsidiary of Infosys, will play a key role in creating an efficient pathway for financial institutions to access Mastercard Move's cross-border capabilities in a fraction of the typical implementation time and without the intensive resourcing traditionally needed for integration projects.

6. J&K Bank appoints veteran banker S Krishnan as non-executive chairman

J&K Bank has approved the appointment of S Krishnan as non-executive chairman of the bank for a period up to March 26, 2028. His appointment would be effective from the date of approval from the Reserve Bank of India (RBI), J&K Bank said in a regulatory filing.

Krishnan, currently an independent director on the board of Srinagar-headquartered bank, served as MD & CEO of state-owned Punjab & Sind Bank. Subsequent to superannuation and pursuant to the approval of the appointment by the RBI, Krishnan took charge as MD & CEO of Tamilnad Mercantile Bank in September 2022.

7. Punjab National Bank Opens First Startup-Focused Branch in New Delhi

Punjab National Bank (PNB) inaugurated its first startup-centric branch in New Delhi. The branch is aligned with the Startup India initiative to promote entrepreneurship and support innovation with complete banking solutions.

An MoU was signed between PNB and STPI (Software Technology Parks of India) to extend financial support to eligible startups. Under the collaboration, STPI will provide PNB with a curated list of incubated, onboarded, or graduated startups, bridging the gap between startups and financial institutions.

Foot Notes:-
About Punjab National Bank (PNB):
Founded: 1894
Headquarters: New Delhi, India
Managing Director & CEO: Ashok Chandra
Tagline: “The Name You Can Bank Upon”
 

8. Government selects Goldman Sachs as advisor for stake divestment in four public sector banks

The Government of India has appointed Goldman Sachs as a transaction advisor for the divestment of its stake in four public sector banks: Indian Overseas Bank (IOB), Central Bank of India, UCO Bank, and Punjab & Sind Bank.

The Centre holds over a 90% stake in each of these banks. Goldman Sachs‘s role includes identifying potential bidders and structuring deals to facilitate the sale. State-run listed companies, including these banks, are exempt from the 25% minimum public shareholding (MPS) rule until August 1, 2026.

9. India, Thailand to hold 14th edition of Exercise Maitree at Umroi

The 14th edition of Exercise Maitree, a bilateral military exercise between India and Thailand, is scheduled to take place at Umroi, Meghalaya, from September 1 to 14, 2025. The main objective is to enhance operational skills for both armies in conducting joint counter-terrorism operations in semi-urban areas.

The 13th edition of Exercise Maitree was held in Tak Province, Thailand, from 1st to 15th July 2024 with each country deploying 76 soldiers. India’s representation was the Ladakh Scouts, while Thailand’s was the 1st Battalion of the 14th Infantry Regiment.

10. National Sports Day is observed on 29^th August

National Sports Day 2025 will be celebrated across India from August 29 to 31 under the leadership of Sports Minister Mansukh Mandaviya. The three-day nationwide campaign, organised under the Fit India Mission, will honour hockey legend Major Dhyan Chand.

The day is observed annually on August 29, marking Dhyan Chand’s birth anniversary. It has been nationally recognised since 2012 and was also the launch platform for the Fit India Movement in 2019. The theme for 2025 is “Ek Ghanta, Khel ke Maidan Main”, encouraging citizens to dedicate at least 60 minutes daily to physical activity to fight lifestyle diseases.