IMD predicts below-normal rainfall in September, El Niño effect likely

India's current account deficit (CAD) widened to $4.2 billion in the first quarter of FY27, up from $3.4 billion during the same period last year. The widening was mainly due to a higher merchandise trade deficit, according to data released by the Reserve Bank of India (RBI) today. The CAD now stands at 0.5% of GDP for April-June period, compared to 0.4% earlier.

Reliance Consumer Products Limited (RCPL), the fast-moving consumer goods (FMCG) division of Reliance Industries Limited, has launched a new ice cream brand called Bombay Creamery. The launch marks RCPL's entry into the ice cream category and reflects its long-term commitment to the market. The new brand is being marketed as an accessible premium dairy brand with a focus on authentic dairy ingredients and quality ice cream experience.

Turkey has officially joined the US-led Artemis Accords, becoming the 71st country to do so. The move was announced by NASA and marks a major step in promoting safe and peaceful exploration of the Moon, Mars, and beyond. Turkish Industry and Technology Minister Mehmet Fatih Kacir signed the agreement with US officials at a ceremony held at NASA headquarters in Washington.

Khadim Batti, the co-founder and CEO of Whatfix, has passed away at the age of 50 due to cardiac arrest. He was a prominent figure in India's Software as a Service (SaaS) and start-up ecosystem. Under his leadership, Whatfix grew into a global enterprise software company with an international market presence. The Bengaluru-based company is known for its digital adoption platform that helps enterprises improve employee software usage.

In a shocking security breach, a cache of 11 weapons was stolen from the high-security Secunderabad Cantonment area on Sunday night. The unidentified persons allegedly broke open the lock of a weapons storage room and escaped with 11 weapons, including four AK-203 rifles, six pistols, and one INSAS rifle, along with ammunition from the highly secured Madras Regiment facility. The theft was reported to Bollaram police by army personnel who discovered the missing weapons.

A shocking case of currency fraud has been reported at the Punjab National Bank (PNB) currency chest in Saharanpur, Uttar Pradesh. Real notes worth ₹7.4 crore were allegedly replaced with counterfeit ones. The incident came to light when a cash remittance sent to the Reserve Bank of India (RBI) on August 10 was short by ₹4.36 lakh, prompting an audit and investigation into the matter.

Mumbai and Tamil Nadu are set to witness a steep hike in milk prices, just ahead of the festive season. The Bombay Milk Producers Association has hiked wholesale milk prices by ₹9 per liter in Mumbai, taking the price from ₹93 to ₹102. This price will be effective till February 28, 2027. The hike has been attributed to rising costs of fodder, oil cakes, grain husks, and transportation expenses, besides increasing expenses related to livestock maintenance.

The Supreme Court has quashed the FIRs against protesters involved in the Cockroach Janata Party-led paper leak protests from July 20 to July 26 by invoking Article 142 of the Constitution. The Constitution under Article 142 grants the SC broad inherent powers to do complete justice. The top court ordered that the FIRs registered across the country, in any state or union territory, should not be pursued or investigated and must be treated as closed for all intents and purposes.

The Indian Space Research Organisation (ISRO) is all set to launch its GSLV-F17 rocket with EOS-05, an advanced Earth observation satellite. The mission is scheduled for September 4 at 2:55am IST from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh. This will be India's first imaging satellite to operate from a geosynchronous orbit, some 36,000km above Earth.

The United Forum of Bank Unions (UFBU), which claims to represent over 90% of the banking workforce in India, has announced a nationwide strike on September 11. The decision comes over unresolved issues concerning the five-day banking week and the government's revised Performance Linked Incentive (PLI) scheme. The forum comprises seven unions - AIBEA, AIBOC, NCBE, AIBOA, BEFI, INBOC and INBEF - representing workers across public sector, private, foreign, regional, rural and cooperative banks.