Daily Current Affairs — August 02, 2026

A snow leopard (Panthera uncia) was camera-trapped for the very first time in the Dhauladhar Wildlife Sanctuary, located in the Kangra district of Himachal Pradesh, marking a historic baseline record for high-altitude wildlife tracking in the region.

Established in 1994, the sanctuary spans an elevation ranging from 1,600 metres to 4,500 metres above mean sea level. It is defined by two prominent physical features—the Dhauladhar Range and the Bara Bhangal Range—which comprise rugged terrain with bare granite rocks and snow-clad peaks.

The area is dominated by Western mixed coniferous forest vegetation, along with rich alpine pastures. Major floral species include deodar, fir, spruce, blue pine, and oaks. The sanctuary serves as a habitat for rare fauna such as the Musk Deer, Himalayan Black Bear, Serow, Himalayan Weasel, Himalayan Palm Civet, Cheer Pheasant, Speckled Wood-Pigeon, and the Western Tragopan.

Bilateral border trade between India and China through the historic Nathu La Pass in Sikkim recently resumed after remaining completely suspended for six years following the COVID-19 pandemic and heightened bilateral military tensions along the Line of Actual Control.

Situated at an altitude of 4,310 metres above mean sea level in the Himalayas, Nathu La is located 54 kilometres east of Gangtok in Sikkim. It directly connects India with China's Tibet Autonomous Region and constitutes an ancient offshoot of the historic Silk Road, operating as one of the world's highest motorable roads.

Nathu La is one of three operational land border trade posts between India and China; the other two are Shipki La in Himachal Pradesh and Lipulekh in Uttarakhand. Originally sealed after the 1962 Sino-Indian War, Nathu La was reopened for restricted commercial trade in 2006 for specified goods like silk, garments, and yak hair.

The Supreme Court of India delivered a significant ruling in the Ujaas Energy case, clarifying that while the Clean Slate Doctrine under corporate insolvency law extinguishes past financial claims against a corporate debtor, it does not automatically erase every statutory or factual consequence arising from those past acts.

Embedded primarily in Section 31 of the Insolvency and Bankruptcy Code (IBC), 2016, the doctrine mandates that once a Corporate Insolvency Resolution Process (CIRP) is finalized and approved by the National Company Law Tribunal (NCLT), the successful resolution applicant takes over the corporate debtor free from past debts, penalties, or undisclosed liabilities.

The doctrine was solidified across multiple rulings: Essar Steel (2020) established unified claim settlement; Ghanashyam Mishra (2021) held that claims not part of the approved plan stand extinguished even for statutory authorities; Arun Kumar Jagatramka (2021) emphasized unencumbered business takeover; and Ebix Singapore (2021) confirmed its binding nature on all stakeholders.

Official reviews highlighted that the Scheme of Venture Capital Fund for Scheduled Castes has played a pivotal role in enabling Scheduled Caste (SC) entrepreneurs to build tech-driven manufacturing enterprises, driving job creation and social inclusion.

Launched during financial year 2014–15 by the Ministry of Social Justice and Empowerment, the fund operates as an Alternative Investment Fund (AIF) registered under SEBI Regulations, 2012. The Government of India serves as the anchor investor, while IFCI Ltd. functions as the sponsor investor.

The scheme provides concessional financial assistance ranging from Rs 10 lakh to Rs 15 crore. For projects up to Rs 5 crore, up to 75% of project cost is funded (25% promoter contribution). For projects above Rs 5 crore, maximum fund contribution is 50% (with 25% minimum promoter contribution and 25% institutional debt). Priority is given to women and disabled SC entrepreneurs.

A high-altitude emergency rescue operation was launched after a 10-member mountaineering expedition was struck by a severe avalanche on the treacherous upper slopes of Broad Peak in the Karakoram Range.

Broad Peak is the 12th-highest mountain in the world with an altitude of 8,051 metres. Known locally as Falchan Kangri in the Balti language, it sits in the Karakoram massif spanning Gilgit-Baltistan and China's Xinjiang region, located approximately 8 km southeast of K2.

Formed by the ongoing tectonic collision between the Indo-Australian and Eurasian plates, the peak consists of massive plutonic granite blocks and complex metamorphic strata. Its massive snowpack and ice walls feed two primary glacial systems: the Godwin-Austen Glacier and the Baltoro Glacier.

Environmental policy experts called for urgent structural reforms following the publication of the Environmental Performance Index (EPI) 2026, in which India received a low global placement of 176th out of 177 evaluated countries.

The EPI is a biennial scorecard developed jointly by the Yale Center for Environmental Law & Policy, Columbia University's Center for International Earth Science Information Network (CIESIN), and the Yale Center for Geospatial Solutions. It measures national performance across 47 indicators and 12 issue categories under three core policy pillars: Environmental Health, Ecosystem Vitality, and Climate Change.

In the 2026 edition, Estonia secured the top rank globally, followed by Luxembourg, the United Kingdom, Finland, and the Netherlands, whereas Laos was ranked lowest at 177th. India recorded an overall EPI score of 22.46, lagging behind the South Asian regional average score of 31.81.

The Directorate General of Foreign Trade (DGFT) issued a notification imposing a six-month import restriction on Suspension Polyvinyl Chloride (S-PVC) resin, a vital industrial raw material, to check predatory import dumping and encourage domestic manufacturing capability.

S-PVC is synthesized through the suspension polymerisation of vinyl chloride monomer (VCM) in an aqueous medium utilizing radical initiators. Unlike emulsion, bulk, or solution polymerisation, suspension polymerisation produces relatively dust-free, granular resin particles with customized particle porosity and controlled molecular weight distribution.

S-PVC resin is widely utilized across the building and agriculture sectors. Its primary applications include manufacturing agricultural irrigation pipes, urban water supply conduits, electrical cable insulation, window frames, and structural PVC sheets.

The Pamba River overtopped its banks across multiple stretches in Pathanamthitta district of Kerala due to heavy monsoon rains, resulting in regional flooding and forcing the local administration to issue flash flood advisories.

Pamba is the third longest river in Kerala, following the Periyar River and the Bharathappuzha River. It originates at an altitude of 1,650 metres in the Pulachimalai Hill on the Peerumedu plateau of the Western Ghats, flowing westwards through Kerala before discharging into the Arabian Sea.

Traditionally called 'Dakshina Bhageerathi' or the 'Ganga of Kerala', the river possesses profound cultural importance due to its direct association with the sacred Sabarimala temple pilgrims. Its major tributaries include Kakki Ar, Azhuta Ar, Kakkad Ar, Kallar, Manimala, and Achenkovil.

The Indian Air Force (IAF) successfully conducted and concluded its week-long specialized helicopter exercise, titled Exercise ROTOR CLAP III, at the Pokhran Field Firing Range in Rajasthan's Jaisalmer district.

The exercise was structured around the theme of Counter-Unmanned Aerial Systems (Counter-UAS). It focused on validating rotary-wing combat concepts against low-altitude hostile drones, enhancing battlefield situational awareness, and refining operational integration between attack and utility helicopters.

The operational drill brought together advanced attack platforms including the AH-64 Apache, Mi-25/35, and the indigenous Prachand Light Combat Helicopter (LCH), operating alongside heavy-lift and transport platforms such as the Chinook, Mi-17, and Dhruv Advanced Light Helicopter (ALH).

A public confrontation over tourists violating rules by smoking at Maharashtra's historic Lohagad Fort went viral online, igniting national debates on monument conservation, enforcement of heritage laws, and responsible tourism.

Established in the 10th century CE during the Lohtamia dynasty, the fort was held by Chalukyas, Rashtrakutas, Yadavas, Bahmanis, Nizam Shahis, Mughals, and Marathas. Chhatrapati Shivaji Maharaj captured it in 1648 CE, surrendered it under the Treaty of Purandar (1665), recaptured it in 1670 CE to store Surat campaign treasures, and later served as a refuge for Peshwa statesman Nana Phadnavis.

Situated at an elevation of 1,033 metres in the Western Ghats near Lonavala (Pune district), the fort divides the river basins of the Pavana and Indrayani rivers and overlooks the Pavana reservoir. Notable structural elements include four massive gates (Ganesh, Narayan, Hanuman, and Maha Darwaja) and the famous 'Vinchukada' (Scorpion's Tail)—a long, fortified narrow spur extending from the main fort.