No Plan to Restore Old Pension Scheme; Unified Pension Scheme Offers Defined Benefits Under NPS
The Government of India has confirmed that there is no proposal to restore the Old Pension Scheme (OPS) for central government employees covered under the National Pension System (NPS). The shift from OPS was due to its unsustainable fiscal burden. A Unified Pension Scheme (UPS) has been introduced as an option under NPS, providing defined retirement benefits while maintaining fiscal sustainability. UPS offers assured payouts based on service duration and salary, with additional benefits under existing pension rules in cases of death or disability during service. The government also reported an increase in household financial assets and liabilities from 2020 to 2024, with net financial positions improving. Retail loan penetration has moderately increased, asset quality remains stable, and unsecured loans constitute a small portion of advances. Net household financial savings have also risen, indicating no systemic risk to Indian banks' asset quality.

Political Leader Urges Quick Action on Voter List Issues and EVM Transparency in Monsoon Session
A political leader emphasized the need to promptly address doubts concerning voter lists, electoral roll revisions, and electronic voting machines to ensure electoral transparency. She urged the state assembly's monsoon session to focus on public welfare by setting aside political differences. Additionally, she called for parliamentary discussion on the impact of US tariffs on national trade, highlighting its significance for the country's economy and development. The leader criticized recent parliamentary disruptions, noting that critical issues affecting the public are not being adequately addressed.

Indian Technical Institute Awards 9,800 Degrees, Honors Space Leaders, and Highlights Moon Mission Goal by 2040
A premier Indian technical institute held its 21st convocation, awarding nearly 9,800 degrees across undergraduate, postgraduate, and doctoral levels, with a notable representation of women among doctoral scholars and rank holders. Two senior government officials from the space and earth sciences sectors received honorary Doctor of Science degrees for their contributions to science and national development. The space agency chairman outlined the nation's goal to land astronauts on the Moon by 2040, highlighting past international cooperation and current advancements in aerospace and defense technology. The event emphasized values of honesty, resilience, and lifelong learning as key to individual and national progress, aligning with the country's vision to become a leading global economic power by 2047. The institute reaffirmed its commitment to academic excellence, gender equity, and societal impact through research and innovation across multiple campuses.

Microfinance Firm Reports 29% Income Growth in Q1 FY26, Boosted by Secured Lending Strategy and Inclusion Focus
A non-banking financial company specializing in micro and small enterprise lending reported a 29% year-on-year increase in total income for the first quarter of fiscal year 2026, driven by a secured lending strategy. The company's asset under management rose significantly, with secured loans comprising a larger portion of disbursements and the loan book. It maintained strong capital adequacy and net worth growth despite credit market challenges, supported by a diversified lender base and recent equity infusion. The firm targets increased secured lending and focuses on women entrepreneurs, livestock communities, and new-to-credit borrowers to enhance financial inclusion. Its operations span multiple states with an expanding branch network, and it continues social initiatives alongside lending activities.

State Unveils AI-Focused IT Policy and Quantum Tech Roadmap to Boost Innovation and Jobs
A state government official highlighted the region as a prime location for entrepreneurship and technological advancement, emphasizing its leadership in artificial intelligence and quantum technology. The official announced initiatives including a new IT policy focused on AI infrastructure, the launch of a state-level Quantum Technology Roadmap, and plans to establish Quantum Hardware Parks and Innovation Zones. The state is noted as the largest software exporter nationally, with a significant share of global capability centers and startups. Commitments were made to expand these centers, create substantial employment, and develop tech clusters beyond the capital city. Additional projects include an integrated ecosystem for innovation and wellness, and a healthcare and life sciences hub combining research, biotech, and medical facilities. The government aims to attract global talent and investment by providing supportive infrastructure and policies to address major global challenges through technology and innovation.

State Plans Four New Digital Hubs to Boost Youth Skills in AI, Cybersecurity, and Emerging Tech
The state government announced plans to develop four additional cities as digital hubs alongside the capital, focusing on enhancing youth skills in AI, cybersecurity, and emerging technologies. Agreements were signed with academic and industry partners to promote research, innovation, semiconductor design, technical collaboration, and startup networks. The initiatives aim to create high-end jobs and foster an entrepreneurial ecosystem beyond the capital city, emphasizing job creation, youth empowerment, and social justice. The government committed to supporting investors and entrepreneurs to establish the region as a leading center for technology and entrepreneurship in eastern India.

Opposition Protests Halt Parliamentary Session Over Special Electoral Roll Revision Debate
The lower house of Parliament was adjourned until 2 pm following persistent protests by opposition members demanding a discussion on the Special Intensive Revision of electoral rolls in a particular state ahead of upcoming assembly elections. Despite attempts by the Speaker to proceed with scheduled business, opposition members continued to disrupt proceedings by raising slogans and displaying placards. The Speaker criticized the opposition for systematic disruptions over the past two weeks, deeming such actions contrary to parliamentary rules and democratic processes. The session has seen minimal legislative activity since its commencement due to repeated adjournments linked to opposition demands for debates on electoral roll revisions and a separate issue previously raised.

Yemen Praises India's Support in Humanitarian Aid, Trade, and Maritime Security Cooperation
The leader of Yemen's Presidential Leadership Council commended the longstanding cooperative relationship and friendship with India during a meeting with the Indian ambassador. He acknowledged India's consistent support for Yemen's government and people, including humanitarian aid such as wheat shipments, medical supplies, and COVID-19 vaccines. The Yemeni leader noted the significant bilateral trade volume nearing USD 1 billion despite difficult conditions and emphasized India's important role in maritime security in the Red Sea and Bab al-Mandab. He also requested enhanced facilitation of Indian wheat imports. The Indian ambassador reiterated support for Yemen's unity, stability, and the transfer of consular services to Aden, while considering additional support programs for Yemen's government and citizens.

Civil society urges Finance Ministry to stop private bank's fivefold hike in minimum savings balance under financial inclusion goals
A civil society organization representing banking stakeholders has urged the Finance Ministry to intervene against a private bank's decision to increase the minimum average balance (MAB) for new savings accounts fivefold, from Rs 10,000 to Rs 50,000, effective August 1. The organization argued that this hike, which also raised MAB requirements in semi-urban and rural areas, contradicts the government's goals of inclusive banking and financial growth. They described the move as unjust and regressive, calling for its immediate reversal to protect depositors and promote broader financial inclusion. Public sector banks typically maintain lower or waived balance requirements, contrasting with the private lender's approach, which may impose penalties for non-compliance.

Asian Markets Rise Amid US-China Tariff Deadline and Fed Rate Cut Speculation
Asian stock markets rose ahead of a US presidential deadline to potentially impose increased tariffs on Chinese imports, following a 90-day truce that paused triple-digit tariffs. Recent negotiations between the US and China ended without clarity on extending this truce. The uncertainty around tariff imposition has raised concerns about its impact on corporate profits and the broader US economy. Concurrently, US markets showed gains driven by strong earnings reports from major companies, though some sectors faced declines due to recent mergers. Investors are awaiting upcoming US inflation and retail sales data, which may influence the Federal Reserve's interest rate decisions amid trade tensions and economic slowdown risks. The Fed is expected to consider a rate cut to support economic growth while managing inflation and employment targets. Currency and oil prices showed minor fluctuations in response to these developments.

Study Reveals Home-Cooked Cat Diets Often Lack Essential Nutrients, Urges Vet-Recommended Commercial Foods
A national survey conducted by a research firm in collaboration with veterinary associations and supported by a petcare company revealed significant nutritional deficiencies in cats fed home-cooked diets in India. The study, involving over 500 veterinarians, debunked common myths such as the suitability of milk for adult cats and the superiority of homemade food. Findings indicate that most veterinarians (88%) believe home-cooked diets fail to meet cats' essential nutrient requirements, while commercial pet foods provide balanced nutrition, improve health outcomes, and are scientifically formulated. Veterinarians recommend feeding cats complete, life stage-appropriate diets and caution against sharing human food due to potential toxicity and malnutrition risks. The research emphasizes the importance of veterinary guidance in pet nutrition to ensure feline health and well-being.

Eight-Year-Old Sets World Record as Youngest Solo Paragliding Pilot with Certified Training
An eight-year-old child from India has become the youngest paragliding pilot globally by completing a solo flight at a high-altitude location under certified supervision, setting a new world record. The child received foundational training at a recognized paragliding school and previously achieved records in endurance activities such as trekking to a major mountain base camp and completing a long-distance cycling challenge. The accomplishments have been widely recognized by adventure sports organizations and educators, highlighting the importance of proper training and support in youth adventure sports. The child's parent has played a significant role in facilitating safe and disciplined participation in these activities. This record-setting achievement underscores the potential for youth empowerment through outdoor physical challenges and serves as an inspiration for young aspirants in adventure sports.

National Touring Car Championship Wraps with Dominant Wins and Exciting Comebacks Across Multiple Series
A national touring car championship event concluded successfully, featuring multiple racing series and categories with dominant performances by one team securing top positions in the main series. Various teams and drivers achieved notable victories across different classes, including last-minute overtakes and strong comebacks. The event combined high-level motorsport competition with cultural and tourism activities, creating an integrated festival atmosphere. Organizers implemented a model blending racing, immersive fan experiences, and entertainment, enhancing the event's appeal and promoting regional cultural and economic vitality. The race also served as a platform to showcase the host city's industrial and ecological attributes to a broader audience. The championship will continue with its next round at a major international circuit.

Supreme Court Reviews Liquidation Recall, Ex-Minister Scam, Muslim Divorce Validity, and Criminal Cases
A Supreme Court docket includes pleas concerning the recall of a liquidation verdict against a power and steel company, challenges related to an ex-minister involved in a cash-for-jobs scam, the validity of extrajudicial divorce practices among Muslims, and criminal cases involving prominent politicians. Additional petitions address defamation claims, election commission disputes, and public safety issues such as stray dog bites. The High Court will consider a death penalty plea in a terror funding case and a challenge to charges in a sexual harassment case against a former sports official. Various regional political and administrative events are scheduled, including legislative sessions, inaugurations, protests, and public grievance hearings across multiple states.

Military Official Repeats Hostile Statements Amid Global Political Tensions and Uncertain Tariff Decisions Under Review
A military official from one country reiterated hostile statements against another nation during a visit to the United States. A U.S. government representative has not yet made a decision regarding tariffs related to a third country's purchase of oil from a sanctioned nation. Additionally, a government leader from Australia announced recognition of a disputed state. Various political developments are reported in multiple countries, including ongoing conflicts and diplomatic issues in South Asia, Eastern Europe, and the Middle East.

Equity Benchmarks Rise on Foreign Investor Inflows and Fed Rate Cut Hopes, Sensex and Nifty Gain
Equity benchmark indices traded higher in early sessions due to renewed foreign institutional investor inflows and positive trends in US and Asian markets. The Sensex rose by 104.84 points and the Nifty increased by 55.85 points, supported by gains in several major companies, while some lagged. Foreign investors purchased equities worth approximately Rs 1,933 crore, reversing a prior losing streak influenced by trade tensions and weak earnings. Market optimism was further bolstered by expectations of a potential Federal Reserve interest rate cut. Despite recent declines, these developments contributed to a positive trading environment.