Tuesday, 1 September 2026 Current Affairs, GK Notes & MCQ Quiz

Pillars and Challenges of Corporate Governance in India

Good corporate governance is central to national development, balancing interests of shareholders, management, and the community. The Institute of Company Secretaries of India (ICSI) evaluates standards through its annual National Awards for Excellence.

Quick highlights

• Transparency and machine-readable financial disclosures under SEBI (LODR) regulations.
• Independent board oversight through Audit and Nomination & Remuneration committees.
• Section 245 of the Companies Act provides for class-action litigation to protect minority shareholders.
• Secretarial Audits ensure adherence to statutory laws and Secretarial Standards (SS-1 and SS-2).
• Mandatory ESG reporting through the Business Responsibility and Sustainability Report (BRSR).

Context

A delegation from ICSI interacted with the Union Minister of State for Personnel, highlighting the role of qualified Company Secretaries (over 80,000 members) in guiding boardrooms toward ethical compliance.

Challenges

Promoter dominance in family-owned firms often weakens board independence. Abuse of Related-Party Transactions (RPTs) and 'check-the-box' compliance remain persistent hurdles in both startups and listed entities.

Way Forward

The expansion of governance frameworks to local bodies (Panchayats/Municipalities) and the mandatory secretarial audit for large unlisted public companies can improve grassroots administrative standards.

Remember this

• ICSI: Institute of Company Secretaries of India.
• BRSR: Business Responsibility and Sustainability Report.
• Section 245: Class-action suits under Companies Act, 2013.
• Company Secretaries conduct non-financial audits.

Mission Zero: Depalpur’s Legacy Waste Transformation

Depalpur in Madhya Pradesh has become the first city under the Swachh Shehar Jodi initiative to achieve Zero Legacy Waste status. The project remediated 1,250 metric tonnes of waste accumulated over five years using the 'Each One Teach One' model.

Quick highlights

• 1,250 metric tonnes of legacy waste remediated at the dumpsite.
• Followed the Swachh Shehar Jodi initiative under SBM-Urban 2.0.
• Achieved 100% door-to-door collection with four-bin segregation.
• Recovered 4.5 tonnes of recyclable materials (plastic, metal, glass).
• Generated Refuse Derived Fuel (RDF) for co-processing in cement factories.

Context

Undertaken by Depalpur Nagar Parishad with mentorship from the Indore Municipal Corporation, this initiative showcases peer learning between cities for effective urban waste management.

Significance

The project reduces landfill dependence and promotes a circular economy. The remediated land is now being transformed into a green public space with native sapling plantations.

Remember this

• SBM-U 2.0 targets 100% remediation of legacy dumpsites.
• RDF: Refuse Derived Fuel.
• Indore served as the mentor city for Depalpur.
• Four-bin segregation: Dry, Wet, Hazardous, and Sanitary waste.

The PCA Ruling on the Indus Waters Treaty

The Permanent Court of Arbitration (PCA) ruled that the Indus Waters Treaty (IWT) remains binding and restricted works on India’s Ratle Hydroelectric Project. India has rejected the ruling, declaring the arbitration illegally constituted and null.

Quick highlights

• PCA held that IWT cannot be unilaterally suspended due to security concerns.
• India argues for a graded mechanism: Commission → Neutral Expert → Court of Arbitration.
• Ratle project construction on the Chenab river is a primary point of contention.
• India considers simultaneous proceedings (Neutral Expert and PCA) contrary to the treaty.
• India has currently held the IWT in abeyance, seeking renegotiation.

Context

The PCA in The Hague issued a ruling reaffirming the treaty's force despite India's objections. India maintains its stance that the constitution of the Court of Arbitration bypassed the established legal order of the IWT.

Key Facts

The IWT (1960) allocates Ravi, Beas, and Sutlej to India; Indus, Jhelum, and Chenab to Pakistan. India is permitted 'run-of-the-river' hydropower projects on the Western rivers (Chenab/Jhelum/Indus).

Remember this

• PCA Headquarters: Peace Palace, The Hague, Netherlands.
• IWT was brokered by the World Bank in 1960.
• Ratle Hydroelectric Project: 850 MW on the Chenab river.
• India and Pakistan became parties to PCA in 1950.

UPI Cementing India’s Digital Economy

The Unified Payments Interface (UPI) processed a record 2,366 crore transactions in July 2026. The total value of these transactions touched nearly ₹30 lakh crore, reinforcing its role as a critical public infrastructure.

Quick highlights

• Processed 2,366 crore transactions in a single month (July 2026).
• Transaction value reached ₹30 lakh crore.
• Developed by the National Payments Corporation of India (NPCI).
• Grew from 21 participating banks in 2016 to over 730 in 2026.

Context

UPI has become the primary mode of retail payment in India, leveraging an open-architecture digital public infrastructure to provide real-time interoperable payments.

Remember this

• NPCI: National Payments Corporation of India.
• UPI was piloted in April 2016.
• VPA: Virtual Payment Address.
• July 2026 value: ~₹30 lakh crore.

Mission Rangeen Machhli 2031

The government has launched Mission Rangeen Machhli 2031 to boost India's ornamental fisheries sector. The mission focuses on increasing productivity, enhancing export potential, and supporting local livelihoods in the aquatic trade.

Quick highlights

• Target year for mission milestones: 2031.
• Aims to promote the breeding and trade of decorative fish species.
• Focus on technology adoption in hatcheries and aquarium maintenance.
• Encourages women-led entrepreneurship in the ornamental fish sector.

Context

As part of the broader push for the Blue Economy, Mission Rangeen Machhli seeks to capture a larger share of the global ornamental fish market while providing diversified income sources for fishers.

Remember this

• Mission Rangeen Machhli 2031 targets the ornamental fish sector.
• Focus: Breeding, marketing, and exports.
• Part of Blue Economy initiatives.
• Promotes entrepreneurship in aquatic pets.

Exercise Super Garuda Shield 2026

Exercise Super Garuda Shield 2026 is a major multilateral military exercise aimed at enhancing regional security cooperation. It involves participation from several partner nations focusing on amphibious operations and maritime security.

Quick highlights

• Large-scale multilateral joint military exercise.
• Focus on interoperability, amphibious assault, and airborne operations.
• Aims to strengthen security partnerships in the Indo-Pacific region.
• Simulates responses to diverse conventional and non-conventional threats.

Context

The 2026 edition of Super Garuda Shield continues to expand in scope, incorporating advanced cyber and space domain simulations alongside traditional field training.

Remember this

• Super Garuda Shield is a multilateral exercise.
• Key theatre: Indo-Pacific.
• Focus: Interoperability and regional security.
• Includes land, air, and maritime components.

The Distinguished Jurist Provision: Article 124(3)(c)

Article 124(3)(c) of the Constitution allows the President to appoint a 'distinguished jurist' as a Supreme Court judge. Despite being in force for 76 years, this provision remains a 'dead letter' as no such appointment has ever been made.

Quick highlights

• Article 124(3)(c) defines eligibility for Supreme Court judgeship.
• A distinguished jurist needs no prior High Court or Bar experience.
• Provision was proposed by H. V. Kamath and supported by Dr. B. R. Ambedkar.
• The 42nd Amendment briefly added this to High Courts, but it was later repealed.
• Bar Council regulations currently divide legal academia from active practice.

Context

Supreme Court Judge Justice Ujjal Bhuyan highlighted this unused mandate, urging the legal community to consider the potential of academic scholars on the apex court bench.

Key Features

Eligibility is based on the 'opinion of the President', now filtered through the Supreme Court Collegium. It targets eminent legal scholars, authors, or researchers of exceptional repute.

Remember this

• Article 124(3)(c) applies only to the Supreme Court.
• The 44th Amendment (1978) removed the 'distinguished jurist' clause for High Courts.
• Kamath cited the practice of the ICJ as a model for this provision.
• Not a single distinguished jurist has been appointed to the SC since 1950.

Niger: Geopolitical and Strategic Significance

Niger is a landlocked nation in West Africa's Sahel region, serving as a critical global supplier of uranium. Its stability is vital for countering extremist insurgencies and managing migration flows toward Europe.

Quick highlights

• Landlocked country bordering seven nations including Mali and Libya.
• One of the world's largest producers of high-grade uranium.
• Member of the ECOWAS (Economic Community of West African States).
• Key partner in the fight against Boko Haram and Al-Qaeda in the Islamic Maghreb.

Geopolitics

Niger's strategic location makes it a hub for international counter-terrorism operations. Recent political shifts have increased tensions with traditional Western partners and shifted dynamics toward new regional alliances.

Remember this

• Niger is landlocked.
• Uranium is its primary export.
• Region: Sahel, West Africa.
• Capital: Niamey.