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The Union Cabinet approved the Mobile Phone Manufacturing Scheme (MPMS) on 15 July 2026 with a budgetary outlay of ₹62,500 crore. The scheme will run for five years from FY 2026-27 to FY 2030-31 and will replace the Production Linked Incentive Scheme for Large Scale Electronics Manufacturing, which ended on 31 March 2026.

The Reserve Bank of India has introduced a prudential framework for Specified Non-Financial Assets (SNFAs) through amendments to the Resolution of Stressed Assets Directions, 2025. The framework applies to Regional Rural Banks, All India Financial Institutions, commercial banks, small finance banks, and non-banking financial companies, and it comes into force on 1 October 2026.

Prime Minister Narendra Modi launched multiple development projects in Chandigarh on 17 July 2026 across healthcare, education, and road infrastructure. The package included hospital facilities at the Post Graduate Institute of Medical Education and Research (PGIMER) and highway works linked to the Tricity Ring Road network.

Prime Minister Narendra Modi is set to virtually inaugurate 75 redeveloped railway stations across 20 states on July 17, 2026, under the Amrit Bharat Station Scheme. The main ceremony is anchored from Jalandhar Cantt station in Punjab, which has been redeveloped at a cost of ₹125 crore.

The Indian Air Force contingent reached Australia on 17 July 2026 for Exercise Pitch Black 2026. The deployment includes four Rafale fighter jets, two C-17 Globemaster III transport aircraft, and more than 120 Air Warriors.

The United Kingdom launched the Royal Air Force’s new collaborative combat aircraft programme, named Storm Fighter, on 16 July 2026. The programme seeks to develop autonomous loyal wingman drones for operations with crewed combat aircraft such as Typhoon, F-35 and the future Tempest fighter.

The Indian Navy received another MH-60R Seahawk helicopter in Kochi in July 2026, taking the number inducted to 21 out of 24 ordered from the United States. The remaining helicopters are expected to be delivered by the end of 2026 under the original procurement programme.

INS Malvan is the second vessel of the Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) built for the Indian Navy. The ship was designed and constructed by Cochin Shipyard Limited in Kochi and was delivered to the Navy on 31 March 2026.

Read UPSC Prelims 2026 analysis with GS Paper 1 difficulty, CSAT impact, subject-wise trends, current affairs weightage and question paper PDF link.