Daily Current Affairs Quiz 22nd August 2026 for Banking & Competitive Exams |

Daily Current Affairs: 22 August, 2026

Q1. The Government of India signed a loan agreement worth how much with the Asian Development Bank (ADB) to modernize Chennai’s water supply and sanitation infrastructure?

(a) $150 million

(b) $200 million

(d) $300 million

(e) $500 million

Answer: c

Solution:

The Government of India and the Asian Development Bank (ADB) have signed a $230 million loan agreement to modernise and expand Chennai’s water supply and sanitation infrastructure.
The project, titled Chennai Climate-Resilient Water Security and Sewerage Project, aims to improve access to safe and reliable water supply and better sanitation services across Chennai.
The project will also strengthen Chennai’s climate resilience, improve public health and quality of life, and support a more efficient and financially sustainable urban water system.

Project Components

The project will construct more than 170 km of water supply and sewer pipes.
It will upgrade 7 water pumping stations and 38 sewer pumping stations.
Water utility assets and operations management will be strengthened through performance-based contracts.
Chennai will become the first Indian city to implement a comprehensive ring-main solution.
A ring-main system is a closed-loop plumbing network designed to maintain balanced water pressure and distribute water efficiently across service areas.
The system is expected to improve reliability, equity and resilience to natural hazards in Chennai’s urban water supply network.

Institutional Details

The Government of India’s engagement with ADB for finalising the loan was undertaken under the guidance of Shri Baldeo Purushartha, Joint Secretary (ADB & Japan), Department of Economic Affairs (DEA), Ministry of Finance.
The project builds on ADB’s earlier investments in Chennai aimed at expanding access to safe and equitable water and waste-management services.
It aligns with flagship urban development initiatives such as Atal Mission for Rejuvenation and Urban Transformation 2.0 (AMRUT 2.0) and the Urban Challenge Fund.

Q2. Who was elected as the 23rd President of Bangladesh in the parliamentary election held in August 2026?

(a) Tarique Rahman

(b) Mirza Fakhrul Islam Alamgir

(d) Shafiqur Rahman

(e) Hafiz Uddin Ahmad

Answer: b

Solution:

Mirza Fakhrul Islam Alamgir, the Bangladesh Nationalist Party (BNP) candidate, has been elected as the 23rd President of Bangladesh.
He defeated Colonel (Retd.) Oli Ahmad, the candidate backed by the 11-party opposition alliance, in the presidential election held on 20 August 2026.
Alamgir secured 255 votes, while Oli Ahmad received 88 votes. A total of 343 valid votes were cast.
The election was significant as it was the first contested presidential election in Bangladesh in 35 years, since 1991.
The Election Commission of Bangladesh subsequently issued a gazette notification formally declaring Mirza Fakhrul Islam Alamgir elected President.
He is scheduled to take oath as President on 21 August 2026.

Q3. Under its partnership with DPIIT, PhonePe will provide startups access to its indigenous mobile application distribution platform known as:

(a) Bharat App Market

(b) Indus AppStore

(d) Desi Play

(e) Nagrik App Hub

Answer: b

Solution:

The Department for Promotion of Industry and Internal Trade (DPIIT), under the Ministry of Commerce and Industry, signed Memoranda of Understanding (MoUs) with PhonePe and Shell India Pvt. Ltd. on 19 August 2026.
The partnerships aim to strengthen support for DPIIT-recognised startups and promote innovation across key sectors of the economy.

DPIIT–PhonePe Partnership

PhonePe will provide DPIIT-recognised startups with transaction credits through its Payment Gateway.
Startups will also receive access to the Indus AppStore, along with dedicated onboarding and support services.
The partnership will provide opportunities for enhanced brand visibility.
PhonePe will conduct regular masterclasses and webinars covering areas such as fintech, sales, go-to-market strategies and business scaling.
These initiatives are aimed at strengthening startup capabilities and accelerating business growth.

DPIIT–Shell India Partnership

The MoU with Shell India will focus particularly on startups working in the energy and climate-tech sectors.
Shell India will provide mentorship, strategic guidance, investor and incubator connections and opportunities to participate in the Shell E4 Smart Energy Track.
The partnership is intended to help startups access growth opportunities, scale innovative solutions and contribute to India’s clean energy transition.
It will also promote knowledge-sharing through sectoral success stories, white papers, policy briefs, industry landscape reports and case studies highlighting emerging innovations and best practices.

Q4. The “National Report on Deep-Sea and Distant-Water Fishery Resources of the Indian EEZ” was released by which specialized institution under the Ministry of Earth Sciences?

(a) National Institute of Ocean Technology (NIOT)

(b) Indian National Centre for Ocean Information Services (INCOIS)

(d) Central Marine Fisheries Research Institute (CMFRI)

(e) Centre for Marine Living Resources & Ecology (CMLRE)

Answer: e

Solution:

The Ministry of Earth Sciences (MoES) has released the “National Report on Deep-Sea and Distant-Water Fishery Resources of the Indian EEZ” during the Silver Jubilee celebrations of the Centre for Marine Living Resources & Ecology (CMLRE).
The report compiles nearly four decades of oceanographic research and around three decades of systematic marine surveys undertaken across India’s 2.37 million square kilometre Exclusive Economic Zone (EEZ).
The report provides a comprehensive assessment of India’s deep-sea and distant-water fishery resources and serves as a scientific foundation for their sustainable utilisation.
Beyond documenting marine resources, the report provides a roadmap for the sustainable development of India’s Blue Economy, while balancing resource assessment with biodiversity conservation.

Q5. Under the modified Supreme Court ruling of August 2026, what is the revised mandatory legal practice duration required for law graduates to appear in entry-level judicial service examinations?

(a) 6 months

(b) 3 years

(d) 1 year

(e) 5 years

Answer: d

Solution:

The Supreme Court of India, on 21 August 2026, modified its earlier ruling concerning the eligibility of law graduates for entry-level judicial service examinations.
The Court reduced the earlier three-year mandatory legal practice requirement to one year.
A Bench comprising Chief Justice Surya Kant, Justice A.G. Masih and Justice K. Vinod Chandran delivered the decision by a 2:1 majority while dismissing the review petition.

Transitional Arrangement

Candidates appearing for judicial service examinations notified between 25 May 2025 and 31 March 2027 will remain eligible irrespective of their prior legal practice experience.
Candidates selected through these examinations will initially be appointed as trainee judicial officers.
They will undergo:
- One year of training at a judicial academy; and
- One year of structured clerkship thereafter.

Background

The Court had earlier prescribed a minimum three-year law practice requirement for fresh law graduates seeking entry-level judicial service examinations.
The present decision modifies that requirement, bringing it down to one year, while providing a transitional exemption for examinations notified during the specified period.

Q6. The Union Cabinet approved the establishment of a new bench of the High Court of Jammu and Kashmir and Ladakh in which Union Territory?

(a) Udhampur

(b) Chandigarh

(d) Anantnag

(e) Pulwama

Answer: c

Solution:

On 20 August 2026, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the sitting of a Bench of the High Court of Jammu & Kashmir and Ladakh in Ladakh.
The decision aims to improve access to justice for residents of the Union Territory of Ladakh.
The move reflects the Government’s focus on Ladakh’s development and strengthening constitutional safeguards in the Union Territory.

Q7. Veteran South Indian actress Sowcar Janaki, who passed away in Chennai, was awarded India’s fourth-highest civilian honor, the Padma Shri, in which year?

(a) 2018

(b) 2020

(d) 2024

(e) 2025

Answer: c

Solution:

Legendary South Indian actress Sowcar Janaki, whose real name was Sankaramanchi Janaki, passed away in Chennai at the age of 94.
She breathed her last at a private hospital due to age-related illness.
Sowcar Janaki had an illustrious career spanning several decades and acted in nearly 400 films across South Indian cinema.
She began her film career in 1950 and became one of the prominent actresses of South Indian cinema.

Awards & Honours

Padma Shri – 2022 for her contribution to Indian cinema.
Filmfare Lifetime Achievement Award
Two Nandi Awards
Kalaimamani Award

Q8. Former ISRO Chairman S. Somanath has been appointed as a part-time, non-official director on the Central Board of which apex financial institution in August 2026?

(a) Securities and Exchange Board of India (SEBI)

(b) Reserve Bank of India (RBI)

(d) National Bank for Agriculture and Rural Development (NABARD)

(e) Pension Fund Regulatory and Development Authority (PFRDA)

Answer: b

Solution:

S. Somanath, former Chairman of the Indian Space Research Organisation (ISRO), was appointed as a part-time, non-official director on the Central Board of the Reserve Bank of India (RBI) on 20 August 2026.
His appointment is for a four-year term, effective from 20 August 2026.
Somanath retired as ISRO Chairman in January 2025.
On the same date, Anand Gopal Mahindra was reappointed as a part-time, non-official director on the RBI Central Board for another four-year term.

About RBI Central Board

The Central Board of Directors is the apex decision-making body of the RBI under the Reserve Bank of India Act, 1934.
The Board comprises official directors, non-official directors and government nominees.
It is responsible for the general supervision and direction of the affairs of the Reserve Bank.

Q9. Who among the following has been selected for the 47th Sarala Puraskar for the poetry collection Bishwas De Pruthwi?

(a) Pratibha Ray

(b) Dr. Ashutosh Parida

(d) Ramakanta Rath

(e) Manoj Das

Answer: b

Solution:

Odia poet, essayist and former CSIR-IMMT scientist Dr. Ashutosh Parida has been selected for the 47th Sarala Puraskar.
He will receive the award for his poetry collection ‘Bishwas De Pruthwi’, published by Prabha Publication in 2024.
The award is conferred annually by the Indian Metals Public Charitable Trust (IMPaCT), the charitable arm of Odisha-based industrial group Indian Metals and Ferro Alloys Ltd. (IMFA).
The award ceremony is scheduled to be held in Bhubaneswar, Odisha, on 25 October 2026.

Award Details

The Sarala Puraskar carries:
- Cash prize: ₹7 lakh
- Copper plaque
- Citation
The award recognises outstanding works in Odia literature and is among the prominent literary honours of Odisha.

Q10. Under the circular issued in August 2026, SEBI permitted Foreign Portfolio Investors (FPIs) to submit which crucial onboarding document with digital signatures?

(a) Certificate of Incorporation

(b) Power of Attorney (PoA)

(d) Board Resolutions

(e) Tax Residency Certificate

Answer: b

Solution:

The Securities and Exchange Board of India (SEBI) has allowed Foreign Portfolio Investors (FPIs) to submit digitally signed Powers of Attorney (PoA).
Under the revised framework, the PoA can be digitally signed in accordance with the Information Technology Act, 2000.
The move is aimed at improving ease of doing business and speeding up the onboarding of foreign investors.

Key Change

Previously, the Power of Attorney was required to undergo physical notarisation, apostillization or consularization.

Under the new framework, the requirement for these physical authentication processes has been removed where the PoA is digitally signed in accordance with the IT Act, 2000.

SEBI’s Digitalisation of FPI Onboarding

The move forms part of SEBI’s broader efforts to digitalise and simplify the FPI registration and onboarding process. Earlier measures include:

Introduction of the Common Application Form (CAF) for registration, PAN, bank and demat accounts.
Permitting Indian digital signatures for executing the CAF.
Granting registration based on scanned copies.