Today's Current Affairs, 6 August 2026: RBI Holds Repo Rate at 5.25%, Rajya Sabha Raises Supreme Court Judges' Strength to 38 & More
Today's Top One-Liners (Quick Revision)
- RBI's Monetary Policy Committee kept the repo rate unchanged at 5.25% for the fourth straight review, with Governor Sanjay Malhotra citing steady growth and cooling inflation.
- India's HSBC Services PMI slipped to 53.3 in July, its slowest new-business growth pace in four years, though it stayed above the 50-mark that separates expansion from contraction.
- The Rajya Sabha passed a bill to raise the sanctioned strength of Supreme Court judges from 34 to 38, a move meant to tackle rising case pendency.
- India marked seven years since the abrogation of Article 370 on 5 August 2019, with the PM highlighting infrastructure and development gains in Jammu & Kashmir and Ladakh.
- Tewodros Gebremariam, former Ethiopian Airlines CEO, has been named the new CEO of Air India, succeeding Campbell Wilson.
- The Bankers' Books Evidence (Amendment) Bill was cleared in the Lok Sabha, updating a 19th-century law to give digital banking records full legal standing.
Quick Jump (Table of Contents)
If you are preparing for SSC CGL, SSC CHSL, IBPS PO/Clerk, SBI PO/Clerk, RBI Grade B, UPSC Prelims or any state-level competitive exam, here is a clean, exam-oriented summary of the news that matters from today’s edition -- not a copy-paste of official notifications but the “what happened, why it matters, and what to remember” version that you need for your revision notes.
1. RBI Monetary Policy: Repo Rate Held Steady at 5.25%
The Reserve Bank of India's six-member Monetary Policy Committee (MPC), chaired by Governor Sanjay Malhotra, kept the benchmark repo rate unchanged at 5.25% during its latest review — the fourth consecutive policy meeting without a change. The central bank struck an upbeat note on the pace of India's economic recovery, citing cooling retail inflation and resilience amid global turmoil as reasons to hold rather than cut rates. The MPC also slightly revised its FY27 GDP growth and inflation projections and reiterated that the policy stance gives it room to respond flexibly as fresh data come in.
Exam Points to Remember
- Repo Rate: 5.25% (unchanged — 4th consecutive pause)
- RBI Governor: Sanjay Malhotra
- MPC has six members; RBI Governor is the ex-officio chairperson
- RBI's medium-term inflation target under the flexible inflation targeting framework: 4% (+/- 2%)
- RBI also proposed a new framework to standardise interest rate rules for banks and NBFCs, aimed at improving transparency for borrowers
Aspirants preparing for banking exams should also track related developments, such as proposed rules on urban co-operative bank licences and NBFC regulation, which frequently appear in Banking Awareness sections. If you're targeting a banking career, it also helps to understand how SSC CGL, IBPS PO and SBI PO salaries and roles compare before you pick which exam to prioritise, and to keep an eye on the latest bank job openings and recruitment notifications as hiring often follows policy announcements like this one.
2. India's Services Sector Growth Slips to a 4-Year Low
The HSBC India Services Purchasing Managers' Index (PMI) fell to 53.3 in July, its weakest reading in just over four years, as new business growth slowed on both domestic and export orders. While the index remains above the crucial 50-mark — meaning the sector is still expanding, just at a slower pace — survey respondents flagged softer demand, elevated competitive pressure, and higher input costs weighing on outlook. Job creation in the sector also moderated during the month.
Exam Points to Remember
- PMI is compiled by S&P Global and released for HSBC in India
- A PMI reading above 50 indicates expansion; below 50 indicates contraction
- July 2026 Services PMI: 53.3 — a 4-year low for the pace of growth
- PMI is a key leading economic indicator often asked in Banking Awareness and Economic Survey-based questions
Understanding indicators like PMI, GDP growth, and inflation is central to the Banking Awareness and Economy sections of most exams. To test how well you've retained this week's economic news, try the Weekly Current Affairs Quiz — it's a quick way to check your recall before exam day.
3. Rajya Sabha Passes Bill to Raise Supreme Court Judges' Strength to 38
The Rajya Sabha approved a bill on Wednesday to increase the sanctioned number of Supreme Court judges from 34 to 38, aimed at helping the apex court better manage its rising caseload and reduce pendency. The bill was passed by voice vote and will now need to be reconciled with the number passed in the Lok Sabha, since the two Houses cleared slightly different figures — a discrepancy that will be resolved as the bill moves further through Parliament.
Exam Points to Remember
- Original sanctioned strength of the Supreme Court (1950): 8 judges (including CJI)
- Proposed new strength: 38 judges (including the Chief Justice of India)
- Article 124 of the Constitution empowers Parliament to change the number of SC judges by law
- Objective: reduce pendency of cases and improve access to justice
Static Polity topics like this one are worth banking as "one-liner facts" in your revision notebook. If you're building a broader government-jobs preparation routine, it's also worth bookmarking free resources such as free government certificate courses that can strengthen your profile alongside exam prep.
4. Seven Years of Article 370 Abrogation: Where J&K Stands Today
5 August 2026 marked seven years since the Indian Parliament abrogated Article 370, which had granted special status to the former state of Jammu & Kashmir, and reorganised it into the Union Territories of Jammu & Kashmir and Ladakh. Marking the anniversary, the Prime Minister said the region has witnessed wide-ranging transformation over the past seven years, pointing to expanded infrastructure, and growing opportunities in education, healthcare, entrepreneurship and sports. He added that the extension of constitutional rights and protections to previously excluded groups — including women and marginalised communities — has strengthened the region's development trajectory.
Exam Points to Remember
- Article 370 abrogated on 5 August 2019
- J&K was reorganised under the Jammu and Kashmir Reorganisation Act, 2019
- Two new Union Territories created: Jammu & Kashmir and Ladakh
- This is a recurring UPSC/state-PCS theme — know the year, the enabling Act, and key changes in governance and rights that followed
This anniversary is a good prompt to revisit Indian Polity basics around special provisions, Union Territories, and constitutional amendments — all high-yield for Prelims and mains-level answer writing. Aspirants preparing essay or GS papers around such governance themes may also find it useful to look into scholarship programs available for students from the region and beyond.
5. Tewodros Gebremariam Named New CEO of Air India
Air India has appointed Tewodros Gebremariam, the former group CEO of Ethiopian Airlines, as its new Chief Executive Officer, succeeding Campbell Wilson. Gebremariam is widely credited with helping Ethiopian Airlines grow into Africa's largest carrier during his tenure between 2011 and 2022, overseeing major fleet expansion and diversification into cargo, MRO (maintenance, repair and overhaul), and other aviation services. Tata Sons chairman N. Chandrasekaran said the search committee rigorously evaluated candidates and found Gebremariam's operational and leadership experience — along with his familiarity with complex, multi-hub airline operations — well suited to Air India's next phase of growth.
Exam Points to Remember
- New Air India CEO: Tewodros Gebremariam
- He succeeds: Campbell Wilson
- Previous role: Group CEO, Ethiopian Airlines (2011–2022 tenure highlighted for growth)
- Air India is owned by the Tata Group (via Tata Sons), chaired by N. Chandrasekaran
"Persons in News" questions often trip up aspirants simply because they aren't revised regularly — keep a running list. If you're also exploring career paths in aviation, logistics, or corporate management, browsing India's fastest-growing career fields or the top skills employers look for can help you plan beyond just exam preparation.
6. Bankers' Books Evidence (Amendment) Bill Cleared in Lok Sabha
The Lok Sabha passed the Bankers' Books Evidence (Amendment) Bill, which updates the more-than-century-old Bankers' Books Evidence Act, 1891, to formally recognise digitally stored and electronically certified banking records as valid evidence in legal proceedings. As banking has moved almost entirely to core banking systems and digital record-keeping, the amendment closes a long-standing gap between how banks actually operate today and what the outdated law originally recognised.
Exam Points to Remember
- Original Act: Bankers' Books Evidence Act, 1891
- Key update: legal recognition for digital/electronic banking records as admissible evidence
- Passed by: Lok Sabha (relevant for Static/Banking Awareness sections of IBPS, SBI, RBI exams)
Banking law updates like this one often align with recruitment cycles too, so it's worth comparing SSC CGL vs IBPS PO vs SBI PO salary and eligibility if banking is on your radar, and checking the latest bank job notifications regularly.
Practice MCQs Based on Today's Current Affairs
Test what you've just revised. Tap "Show Answer" under each question once you've picked your option.
Q1. At what level did the RBI's Monetary Policy Committee hold the repo rate in its latest review?
- 5.00%
- 5.25%
- 5.50%
- 6.00%
Show Answer
Q2. India's Services PMI for July 2026, as reported by HSBC/S&P Global, stood at what level?
- 49.8
- 51.2
- 53.3
- 55.7
Show Answer
Q3. The Rajya Sabha passed a bill to raise the sanctioned strength of the Supreme Court from 34 to how many judges?
- 36
- 37
- 38
- 40
Show Answer
Q4. Article 370 of the Indian Constitution, abrogated on 5 August 2019, granted special status to which region?
- Sikkim
- Jammu & Kashmir
- Nagaland
- Assam
Show Answer
Q5. Tewodros Gebremariam, the new CEO of Air India, previously headed which airline?
- Qatar Airways
- Emirates
- Ethiopian Airlines
- Kenya Airways
Show Answer
Q6. Who is the current Governor of the Reserve Bank of India, as referenced in today's MPC announcement?
- Shaktikanta Das
- Sanjay Malhotra
- Urjit Patel
- Raghuram Rajan
Show Answer
Q7. The Bankers' Books Evidence (Amendment) Bill updates a law that was originally enacted in which year?
- 1872
- 1891
- 1934
- 1949
Show Answer
Q8. A Services/Manufacturing PMI reading above which threshold indicates economic expansion?
- 40
- 45
- 50
- 60
Show Answer
Want more practice like this every week? Bookmark the Monthly Current Affairs Quiz archive to revise a full month's news in one sitting.
Frequently Asked Questions
What is the current RBI repo rate as of August 2026?
The RBI's Monetary Policy Committee has held the repo rate steady at 5.25% for the fourth consecutive policy review, citing steady growth and cooling inflation.
Who is the new CEO of Air India?
Tewodros Gebremariam, the former group CEO of Ethiopian Airlines, has been named the new CEO of Air India, succeeding Campbell Wilson.
By how many judges has the Supreme Court's sanctioned strength been proposed to increase?
The Rajya Sabha has passed a bill to raise the Supreme Court's sanctioned strength from 34 to 38 judges, aimed at reducing case pendency.
When was Article 370 abrogated, and why is 6 August 2026 relevant?
Article 370 was abrogated on 5 August 2019. The date around 5–6 August 2026 marks seven years since that constitutional change, prompting reviews of Jammu & Kashmir and Ladakh's development progress.
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