The RBI has notified the Third Amendment Directions, 2026 to establish a framework for the acquisition, valuation, management, and disposal of Specified Non-Financial Assets (SNFAs) by banks.

About Specified Non-Financial Assets (SNFAs)

• They are immovable properties acquired by banks from defaulting borrowers in settlement of outstanding loans.
• They include: Residential properties, Commercial buildings etc.

Key Directions

• Banks can acquire SNFAs only after a loan is classified as a Non-Performing Asset (NPA).
  • NPA is any advance or loan that is overdue for more than 90 days.
• Acquisition must be through full or partial settlement of the outstanding loan.

The Chhattisgarh government is using geotagging of river origin points to tackle river pollution.

About Geotagging

• It is the process of adding geographic location data to a photo’s metadata. 
• The location data includes latitude, longitude, and sometimes altitude.

Use in controlling river pollution

• Identifies the exact location of river source points using GPS.
• Maps the source on the PM Gati Shakti platform for digital monitoring and planning.
• Helps authorities monitor and protect river origins from encroachment, deforestation, pollution, and illegal activities.
• Enables scientific planning of restoration measures such as catchment treatment, afforestation, desiltation etc.

ICMRstudy revealed that 87.3% of Indian adults have at least one abnormal lipid level, making dyslipidemia one of India’s most widespread health problems.

• Low HDL was the most common abnormality, followed by elevated LDL, high triglycerides, and high total cholesterol.

Key terms

• Lipid: A group of Water-insoluble organic compounds (fats, oils, cholesterol).
• Dyslipidemia: An unhealthy balance of fats in the blood that increases risk of heart disease/stroke. 
• Cholesterol: A waxy, fat-like substance found in all cells; synthesized primarily by the liver, but also absorbed from animal-based foods. (helps make Vitamin-D)
• HDL (High-Density Lipoprotein): Good cholesterol- returns excess cholesterol to liver. 
• LDL (Low-Density Lipoprotein): Bad Cholesterol- excess deposits cholesterol in cells, causing arterial plaque buildup.
• Triglycerides: Most common type of fat in the body; from dietary fat/excess calories, stored and used for energy. 

Spain beat Argentina (1-0) in the FIFA World Cup 2026 Final held at MetLife Stadium in New Jersey (USA).

• This is Spain's second FIFA World Cup title (first 2010).
• Awards: Rodri (Spain)- Golden Ball, Kylian Mbappe (France)- Golden Boot (10 goals), Unai Simon (Spain)- Golden Glove, Pau Cubarsi (Spain)- FIFA Best Young Player Award.

About FIFA World Cup 2026 (23rd edition (men's))

• Historic Expanded Format
  • Tri-Host Countries: For the first time in World Cup history, the tournament is co-hosted by three sovereign nations: Canada, Mexico, and the United States.
  • Expanded Teams: Features a record 48 nations (up from 32 teams in previous editions), divided into 12 groups of four teams each.
• India has only qualified for the FIFA World Cup once (1950 in Brazil), but ultimately did not participate.

India tightened its DTAA with Sri Lanka by bringing into force Principal Purpose Test (PPT).

• PPT: An anti-avoidance rule that allows authorities to examine the commercial purpose of cross-border arrangements before granting treaty benefits.
• Amendment: treaty benefits may be denied if obtaining those benefits was one of the principal purposes of the transaction.

About DTAA

• It is an agreement between India and other countries to avoid double taxation, ensure the exchange of tax-related information, and facilitate tax recovery, Promote trade and investment
• Applicability: If the provisions of the DTAA are more beneficial than those in the Income-tax Act, the DTAA provisions will apply.
  • However, provisions under the General Anti-Avoidance Rule (GAAR) will override beneficial DTAA provisions

Indian Air Force (IAF) to start Exercise Pitch Black 2026 at Royal Australian Air Force (RAAF) Base, Darwin.

About Pitch Black 

• It is the RAAF's premier biennial multinational air combat exercise.
  • Derives its name from its emphasis on night flying over large unpopulated northern Australian regions.
• Aim: enhance multinational interoperability, strengthen professional partnerships etc. 
• Bilateral exercises between India and Australia: Austrahind (India-Australia army), Ausindex (India-Australian Navy) etc.

The Indian Team won 1 Gold and 3 Silver Medals at the 37th International Biology Olympiad 2026 in Vilnius, Lithuania.

About International Biology Olympiad 2026

• It is the world’s leading biology competition for high school students, held each year.
• The inaugural event took place in 1989.
• Participation: 307 students from 78 countries
• Medallists: Bhavyaa Gunwal (Gold),Soumil Maity (Silver), Nishit Kalani (Silver),Anmol Kumar (Silver).
• Also India performed exceptionally well at the 58th International Chemistry Olympiad (IChO) 2026 held in Tashkent, Uzbekistan with four gold medals.

Bihar Chief Minister inaugurated a 68-km Belwa-Minapur link channel which is part of the Bagmati-Budhi Gandak River Interlinking Project.

• It is Bihar's first operational intrastate river-interlinking project.

Bagmati-Budhi Gandak River Interlinking Project

• Purpose: To divert part of the floodwaters of the Bagmati River into the Burhi Gandak River through the Belwadhar channel for flood moderation in North Bihar.
• Connecting Points: Originates at Belwa (Sheohar District) and terminates in Minapur Block (Muzaffarpur District).
• Source River: Bagmati River (diverts excess monsoon discharge) to Burhi Gandak River.
  • Bagmati river originates in Shivapuri range in Nepal- tributary of kosi.
  • Burhi Gandak River: tributary of Ganga and orginate from chautarwa chaur, Bihar.

Recent advances in Artificial Intelligence (AI) are moving beyond digital applications toward Embodied AI.

About Embodied AI

• It refers to the integration of artificial intelligence into physical systems, enabling them to interact with the physical world. 
• These systems can include general-purpose robots, humanoid robots, autonomous vehicles (AVs), and even factories and warehouse facilities. 
• The fusion of machine learning, sensors, and computer vision lets these systems perceive, reason, and act in real-world environments.
• Unlike the AI chatbots that learn from texts, images, and videos, embodied AI must master gravity and balance, which are profoundly difficult.

National Stock Exchange of India (NSE) introduced Electronic Gold Receipts (EGRs).

About Electronic Gold Receipts (EGRs)

• They are SEBI-regulated, exchange-traded securities that represent ownership of standardized physical gold stored in accredited vaults.
• They represent gold ownership, tradable on exchanges like stocks and bonds, backed by physical gold that can be redeemed anytime.

Key Benefits

• Transparent market-based pricing ("One Nation, One Price")
• Easy buying and selling through stock exchanges.
• Safe, secure, and convenient alternative to physical gold.