Current Affairs 25 August 2026

1st 100% Indigenous AK-203 Rifle Successfully Test-Fired in India.

• India successfully test-fired the prototype of the 100% indigenous AK-203 Sher rifle on 23 August 2026.
• The rifle is manufactured by Indo-Russian Rifles Pvt. Ltd. (IRRPL) at Amethi.
• It has achieved 100% indigenisation, with components sourced from Indian industry and MSMEs.
• A ₹5,200 crore contract covers the supply of 6,01,427 rifles to the Indian Armed Forces.
• Production is planned at a rate of one rifle every 100 seconds.
• Indian Army trials are scheduled to begin in September 2026.
• The delivery deadline has been advanced to December 2030 from October 2032.

Himachal Pradesh Collaborates with ISB to Promote Forest Economy.

• Himachal Pradesh Forest Department signed a 5-year MoU with ISB to modernize forest governance and strengthen the pastoral economy.
• ₹22,600 crore worth of untapped value was identified across five forest resources.
• Amla has the highest potential at ₹8,700 crore, followed by pine needles (₹5,500 crore).
• AI/ML and satellite imagery will be used for forest inventory and management.
• A Forest Intelligence Platform and Grazing Portal will be developed.
• Palampur Forest Division will be the pilot site before statewide expansion.

India Secures $230 Million ADB Loan for Chennai Water Modernisation.

• India and ADB signed a $230 million loan agreement for Chennai’s climate-resilient water and sewerage project.
• The project will build over 170 km of water supply and sewer networks.
• 7 water pumping stations and 38 sewer pumping stations will be upgraded.
• Chennai will become the first Indian city to implement a comprehensive ring-main water system.
• Digital monitoring and advanced technologies will improve service efficiency and worker safety.
• The project aligns with AMRUT 2.0 and the Urban Challenge Fund.

Razorpay Introduces Multi-Currency EEFC Account for Exporters.

• Razorpay launched a Multi-Currency EEFC Account for exporters to receive international payments directly in foreign currencies.
• Exporters can receive settlements in USD, EUR, GBP, AED, and SGD.
• Payments are credited directly to EEFC accounts without mandatory conversion into INR.
• The solution reduces FX conversion costs and foreign exchange leakage.
• It is integrated into the existing Razorpay dashboard, with no separate onboarding required.

Bharatiya Antariksha Station Set to Be Established by 2035.

• ISRO approved the first module of the Bharatiya Antariksha Station (BAS).
• India aims to establish BAS, its own space station, by 2035.
• The Gaganyaan mission is currently under development as India’s first human spaceflight programme.
• The announcement was made during the Third National Space Day celebrations in Ahmedabad.
• National Space Day is observed on August 23 to commemorate Chandrayaan-3’s lunar landing in 2023.
• The Chandrayaan-3 landing site is named Shiv Shakti Point.