27 August 2026 — Current Affairs Quiz

Explanation

On 26 August 2026 in Bengaluru, HAL and France's Safran Helicopter Engines signed the final contract with their 50:50 joint venture SAFHAL Helicopter Engines Pvt Ltd covering design, development, manufacture, supply and lifecycle support of Aravalli, a new 3,500-4,000 shp turboshaft engine. It will power HAL's 13-tonne Indian Multi-Role Helicopter (IMRH) and its naval variant, the Deck-Based Multi-Role Helicopter (DBMRH). Safran earlier supplied Artouste engines and co-developed Shakti.

Explanation

Per the Finance Ministry, annual UPI transaction volume rose from 1.78 crore in FY2016-17 to over 24,162 crore in FY2025-26, an almost 13,000-fold increase at a CAGR of 188%. Transaction value grew from Rs 0.07 lakh crore to about Rs 314 lakh crore, a more than 4,000-fold rise. UPI was launched on 25 August 2016 by NPCI under RBI oversight. Banks live on UPI rose from 44 to 703, and July 2026 set a record 2,366 crore monthly transactions.

Explanation

In August 2026, Indo-Russian Rifles Private Limited (IRRPL) test-fired the first fully indigenised AK-203 'Sher' rifle at its Korwa plant in Amethi, Uttar Pradesh, including burst-fire trials. IRRPL CEO and MD Maj Gen S K Sharma said every component and input material came from Indian industry. IRRPL is a joint venture with Russia's Kalashnikov Concern and Rosoboronexport under a Rs 5,200 crore deal. The rifle fires the 7.62x39 mm round; Army trials are due in September 2026.