Current Affairs 01 September 2026

India Rises as a Major Source of Petrol for Russia.

Russia’s petrol imports hit a record of 125,000 barrels/day in August 2026.
India emerged as a major supplier, exporting about 1 million barrels of gasoline in two months.
Most Indian supplies came from Vadinar refinery, Gujarat, operated by Nayara Energy.
Russian crude accounted for over 50% of India’s crude oil imports in June–July 2026.
Around 55% of Russia’s August petrol imports were transported through sanctioned vessels.
Russia extended its petrol export ban for all producers until January 2027.
Russian fuel production fell sharply due to drone attacks on energy infrastructure.

Rangelands Flagship Initiative: $1.2 billion mobilized across 45 projects.
Rangelands cover 54% of Earth’s land and support 2 billion people.
$1.3 billion package launched for land restoration and drought resilience across 23 countries.
Rangelands generate $21–$47 trillion annually in ecosystem services.
Drought Resilience Index (DRI) launched to assess drought vulnerability.
GEF committed $3.3 million to the UNCCD COP17 Legacy Project.

Bihar to establish its first women’s university, with women as VC, professors and staff.
₹600 crore transferred to 5 lakh women under the Mukhyamantri Mahila Rojgar Yojana.
10,000 women to receive loans through the Jeevika Nidhi Fund.
Construction of 112 rural markets (Haats) launched to boost the rural economy.
TRE-4 teacher recruitment exam to be conducted in a single phase.
Examination reforms: Expert committee and a Student Assistance Portal to address grievances within 30 days.

IST made mandatory: Indian Standard Time will be the single reference for official, commercial and legal records.
180-day transition period given for implementation.
One Nation, One Time: Aims to synchronize time across banking, digital payments, telecom, railways and power grids.
White Rabbit Technology to enable highly accurate IST dissemination.
NavIC and approved Indian sources to be used for secure time dissemination, reducing dependence on foreign systems.
Initiative involves collaboration among ISRO and other national institutions.

India signed a Letter of Offer and Acceptance with the US to procure Javelin anti-tank guided missiles.
The deal enables government-to-government procurement of the shoulder-fired system.
India and the US are working toward joint production of Javelin missiles in India.
The agreement will strengthen the Indian Army’s anti-armour capabilities.
It deepens India-US defence industrial cooperation.