🇮🇳 NationalIndia celebrates its 80th Independence Day on August 15, 2026, marking 79 completed years of independence from British rule.Prime Minister Narendra Modi addresses the nation from the ramparts of the Red Fort for his 13th consecutive Independence Day speech.The official themes for Independence Day 2026 are '150 Years of Vande Mataram' and 'Yuva Shakti for Viksit Bharat@2047'.Madhya Pradesh government plans fresh archaeological excavations at Vaishya Tekri near Ujjain, home to a massive ancient Buddhist stupa. 🌍 InternationalWorld leaders extend greetings to India on its 80th Independence Day, strengthening multilateral diplomatic and trade ties.Iran officially rejects claims regarding full external control over the strategic Strait of Hormuz, maintaining regional sovereignty assertions. 💰 EconomyReserve Bank of India (RBI) publishes its Monetary Policy Report (MPR) for August 2026, analyzing growth-inflation dynamics and maintaining the repo rate at 5.25%.NITI Aayog releases a strategic report identifying 12 high-potential manufacturing sectors—including chemicals, textiles, telecom, and solar PV—to accelerate industrial growth. 🗓 Date’s importanceAugust 15 is observed annually as India’s Independence Day, commemorating the end of British colonial rule in 1947.August 15 also marks the celebration of Navroz (Parsi New Year) in 2026, bringing additional cultural significance across the nation. 👱‍♂👩‍🦳 Person of the dayBankim Chandra Chattopadhyay: Indian novelist and composer of 'Vande Mataram', featured prominently in this year's national celebrations commemorating 150 years of the national song written in his novel Anandamath. 🏅 SportsAll India Football Federation (AIFF) confirms squad selections for upcoming international fixtures while prioritizing youth development pathways.Ministry of Youth Affairs and Sports reviews national athlete preparation frameworks for upcoming global multi-sport events. 🏆 AwardsPresident Droupadi Murmu approves Gallantry Awards and Service Medals for armed forces and security personnel on the eve of Independence Day. ⭐️ Other important significanceThe 'Har Ghar Tiranga 2026' campaign witnesses nation-wide public participation, promoting civic engagement and constitutional values.Comptroller and Auditor General (CAG) presents an evaluation report assessing execution frameworks under the Green India Mission. 📚 Word of the daySovereign (Adjective): Possessing supreme or ultimate political power and independent authority; free from external control. 

Key HighlightsThe Union Government, through the Ministry of Home Affairs, notified 40 questions on 14 August 2026 for the population enumeration phase of Census 2027. This expands the scope of data collection to include caste, COVID-19 vaccination details, bank accounts, and identification numbers such as Aadhaar.Historical Significance of Caste EnumerationFirst Since Independence: For the first time since Independence, citizens will be asked to record their caste. Previously, comprehensive enumeration was limited only to Scheduled Castes (SC) and Scheduled Tribes (ST).Question 10: The specific query appears as question number 10 in the Household Schedule under the heading "Scheduled Caste (SC)/ Scheduled Tribe (ST)/Caste".Approval: The Cabinet Committee on Political Affairs approved the inclusion of caste enumeration on 30 April 2025.Notable Additions to the QuestionnaireApart from standard demographic, educational, economic, and migration data, several new parameters have been introduced:Identity Details: Aadhaar number, Voter ID number, passport number (for Indian passport holders), and the availability of a driving licence, wherever applicable.Health and Finance: Place of COVID-19 vaccination and the total number of bank accounts.Digital Literacy: Literacy status queries now include digital literacy status.Digital Census and MethodologyFirst Digital Census: Census 2027 will be India's first digital census, utilising digital tools for data collection.Self-Enumeration: Residents will have an optional 15-day window for self-enumeration immediately before the house-to-house exercise begins.Timeline: The population enumeration (second phase) is scheduled to begin in February 2027 across most of the country. However, in Ladakh and snow-bound areas of Jammu and Kashmir, Uttarakhand, and Himachal Pradesh, the exercise will commence earlier.Constitutional and Legal FrameworkLegislation: The census is governed by the Census Act, 1948, and the Census Rules, 1990.Confidentiality: Section 15 of the Census Act ensures that personal information collected remains confidential. It prohibits the disclosure of personal census information and restricts its use as evidence in court or disclosure to institutions.Union Subject: The Census is a Union subject under the Constitution of India.Financial OutlayThe Union Cabinet has approved a financial outlay of Rs 11,718.24 crore for conducting the census exercise.

Public Sector Banks (PSBs) in India1. Introduction and DefinitionDefinition: Public Sector Banks (PSBs) are government-owned commercial banks in India where the majority stake (i.e., more than 50% or minimum 51%) is held by the Ministry of Finance, Government of India, or the State Ministry of Finance.Regulation: All PSBs function under the regulatory supervision of the Reserve Bank of India (RBI), while ownership and policy matters are overseen by the Department of Financial Services under the Ministry of Finance.Primary Objective: Unlike private banks that focus primarily on profitability, PSBs operate with the primary objective of social welfare, financial inclusion, and economic development.2. Historical Background and NationalisationImperial Bank of India (1921): Formed by amalgamating three presidency banks (Bank of Bengal, Bank of Bombay, and Bank of Madras).Creation of SBI (1955): The Imperial Bank of India was nationalised and renamed the State Bank of India (SBI) on July 1, 1955, following the recommendation of the Gorewala Committee. In 1959, seven regional banks became its subsidiaries.First Phase of Nationalisation (1969): On July 19, 1969, the Indira Gandhi-led government nationalised 14 major commercial banks that had deposits of over ₹50 crores.Second Phase of Nationalisation (1980): Six more commercial banks with deposits of over ₹200 crores were nationalised, bringing the total number of nationalised banks to 20.3. Consolidation and Mega MergersTo create globally competitive banks and improve operational efficiency, the Government of India initiated a massive consolidation phase.2017 (SBI Merger): Five associate banks of SBI (State Bank of Bikaner & Jaipur, State Bank of Hyderabad, State Bank of Mysore, State Bank of Patiala, State Bank of Travancore) and the Bharatiya Mahila Bank were merged with SBI.2019: Vijaya Bank and Dena Bank were merged into Bank of Baroda.2020 (Mega Merger): Effective from April 1, 2020, several banks were consolidated:Oriental Bank of Commerce and United Bank of India merged into Punjab National Bank.Syndicate Bank merged into Canara Bank.Andhra Bank and Corporation Bank merged into Union Bank of India.Allahabad Bank merged into Indian Bank.4. Current List of Public Sector Banks (As of 2026)Currently, there are 12 Public Sector Banks operating in India.Sl. No.Name of the BankHeadquarters1State Bank of India (SBI)Mumbai, Maharashtra2Punjab National Bank (PNB)New Delhi3Bank of Baroda (BoB)Vadodara, Gujarat4Canara BankBengaluru, Karnataka5Union Bank of IndiaMumbai, Maharashtra6Bank of India (BoI)Mumbai, Maharashtra7Indian BankChennai, Tamil Nadu8Central Bank of IndiaMumbai, Maharashtra9Indian Overseas Bank (IOB)Chennai, Tamil Nadu10UCO BankKolkata, West Bengal11Bank of MaharashtraPune, Maharashtra12Punjab & Sind BankNew Delhi5. Key Roles and FunctionsFinancial Inclusion: Extending banking services to unbanked and rural areas (e.g., zero-balance accounts under Pradhan Mantri Jan Dhan Yojana - PMJDY).Priority Sector Lending (PSL): Mandated by RBI to allocate a specific portion of their lending to crucial sectors like agriculture, Micro, Small and Medium Enterprises (MSMEs), education, and housing.Implementation of Government Schemes: Serving as the primary delivery mechanism for welfare programmes, including Direct Benefit Transfer (DBT), PM Kisan Samman Nidhi, Pradhan Mantri Mudra Yojana, and PM Suraksha Bima Yojana.Credit Delivery and Savings Mobilisation: Encouraging the habit of saving among the masses and providing affordable credit for infrastructure, industry, and retail customers.6. Major Challenges Faced by PSBsNon-Performing Assets (NPAs): Historically high levels of bad loans affect profitability and capital adequacy.Intense Competition: Tough competition from tech-savvy Private Sector Banks and Non-Banking Financial Companies (NBFCs) offering faster services.Capital Adequacy: Frequent need for capital infusion from the government to meet Basel III norms.Technological Lag: Though improving, they often face challenges in upgrading legacy IT systems at the same pace as private counterparts.7. Important Points for Competitive ExamsLargest PSB in India: State Bank of India (SBI).First Bank to open a branch outside India: Bank of India (in London, 1946).Bank with the maximum number of overseas branches: State Bank of India.Oldest Joint Stock Bank in India: Allahabad Bank (now merged with Indian Bank).First wholly Indian Bank: Punjab National Bank (established in 1894 in Lahore).