Weekly at a glance
- Mon 21 Sep — FPIs pull ₹20,974 crore in September; US Russia-Iran sanctions law puts India's oil trade on notice; SC seeks a law on court deposits
All topics — key facts for revision
21 September 2026
Full notes with diagrams →ECONOMY FPIs pull ₹20,974 crore from equities in September; 2026 outflow crosses ₹2.45 lakh crore
- Sept outflow ₹20,974 cr; July inflow ₹20,200 cr, Aug inflow ₹29,630 cr.
- 2026 YTD equity outflow ₹2.45 lakh cr – already above full-year 2025 (₹1.66 lakh cr).
- Debt also hit: FAR ₹10,296 cr, VRR ₹1,817 cr, general route ₹1,068 cr withdrawn.
- Drivers: higher US rates/bond yields, Brent above $100/bbl (Hormuz tension), rupee at record lows.
SCI-TECH Rare-earth magnets: India's gap lies in the midstream, not in reserves
- Neodymium-Iron-Boron (NdFeB) magnets power EV motors, wind turbines, drones, electronics.
- India has reserves in coastal monazite sands (Kerala, TN, Odisha, AP) – the weak link is separation, metallisation, alloying.
- China dominates the midstream processing stage where global concentration is highest.
- Proposal: an Integrated Techno-Economic Mapping (ITEM) framework linking engineering and economic data across the chain.
ECONOMY Tata Trusts call Chandrasekaran's reappointment 'void' – a corporate governance test
- Trusts own about 66% of Tata Sons; Article 104B lets them nominate one-third of directors while holding ≥40%.
- Article 121: key decisions need affirmative vote of a majority of Trust nominees.
- Nominees split 1-1: Noel Tata against, Venu Srinivasan for; Trusts say a chairman's casting vote cannot fill this gap.
- Linked row over a Tata Sons listing, which RBI's upper-layer NBFC rules for large CICs make mandatory.
ENVIRONMENT Five baby orangutans found in Odisha expose urban wildlife-trafficking networks
- Probe by Odisha Forest Dept and Wildlife Crime Control Bureau (WCCB) into illegal import.
- All 3 orangutan species are Critically Endangered (IUCN) and in CITES Appendix I.
- Black-market price up to ₹20 lakh per animal; 2 baby orangutans were seized on the Assam-Mizoram border in 2022.
- Studies show urban demand hubs, not only source forests, reshape trafficking routes; India's key route is the India-Myanmar border.
IR US Sanctioning Russia and Iran Act signed – up to 100% tariffs threaten India's oil diplomacy
- Allows duties of up to 100% on goods from the top-5 buyers of Russian crude or gas; to be applied within 30 days.
- Russia supplied ~2.1 mbpd to India in Aug 2026 (down from 2.6 mbpd in June-July) – still >40% of imports.
- US takes about 20% of India's goods exports; MSME exporters most exposed.
- India's stance: will keep importing from commercially viable sources.
POLITY SC: a court deposit is not payment – asks Law Commission to frame a uniform deposit law
- Interest liability ceases only on payment per Order XXI Rule 1, CPC.
- Found wide inconsistency across courts in deposit %, banks, instruments and interest accounting.
- Recommended a statutory framework; copy sent to Law Commission, RBI Governor, Finance & Law Secretaries.
- Model cited: US Court Registry Investment System – a pooled, unified investment platform.
POLITY SIR Phase-3: about 17% names dropped from draft rolls in 12 States and 2 UTs
- Phase-3 covers 12 States + 2 UTs; earlier two phases removed about 13% of names.
- Highest combined rates flagged in Delhi (53.73%), Chandigarh (52.58%), Telangana (48.90%), Jharkhand (39.57%).
- Reasons cited by ECI: deaths, shifted, duplicate, untraceable electors.
- Excluded persons can file Form 6 / claims before the ERO during the claims-and-objections window.
IR Nepal's Finance Minister in Delhi seeks help for post-flood reconstruction
- Floods killed 1,388 people; property loss ~$4.75 bn across three districts.
- Reconstruction estimated at $4.7-5 bn over 3-5 years.
- After the 2015 earthquake, India gave a $250 mn grant + $750 mn LoC.
- Pending: revision of the 2009 Trade Treaty, overflight/air-entry routes for Pokhara & Bhairahawa airports.
HEALTH Tamil Nadu launches a salt-reduction strategy to curb hypertension
- Average Indian intake: 8.9 g/day (men), 7.1 g/day (women) vs WHO cap of 5 g.
- TN adult hypertension: 33.9% (men), 28.5% (women).
- Excess sodium → water retention → higher blood volume → raised arterial pressure (the 'silent killer').
- Four levers: measurement, reformulation, awareness, screening with doorstep drug delivery.
SOCIETY Community cadres: 30 lakh+ village workers powering last-mile delivery
- 9 lakh+ Community Resource Persons; 92 lakh SHGs under DAY-NRLM cover 10 crore+ households.
- 10.40 lakh ASHAs; Krishi Sakhi 1.91 lakh, Pashu Sakhi 1.70 lakh, BC Sakhi 1.48 lakh.
- ₹13.41 lakh crore bank credit to SHGs since 2013-14; 4.32 lakh enterprises under SVEP.
- Concern: paid by honoraria/incentives; 45th Indian Labour Conference (2013) call for minimum wages largely unmet.
SOCIETY 72nd National Film Awards at Ekta Nagar; Anant Nag gets Dadasaheb Phalke Award
- Dadasaheb Phalke Award 2024: Anant Nag – 300+ films in six languages; debut in Ankur (Hindi); known for Malgudi Days.
- Best Feature Film: Article 370; Best Actor shared by Mammootty and Kartik Aaryan.
- Ravi Raj Murmu's Angen – first Santhali film honoured (Best Debut, Non-Feature).
- Prize money: Swarna Kamal ₹3 lakh, Rajat Kamal ₹2 lakh; presented by the President.
Prelims rapid-fire — 6 facts
| Dadasaheb Phalke Award instituted: 1969; first recipient Devika Rani |
| CITES Appendix I: Species threatened with extinction – commercial trade banned |
| FPI vs FDI threshold: 10% of equity of a listed company |
| Rare-earth elements: 17 = 15 lanthanides + Sc + Y |
| Article 326: Elections on basis of adult suffrage (18 yrs) |
| WHO daily salt limit: Less than 5 g (about 1 teaspoon) |
Data points of the period
4.82%
CPI (retail) inflation, August 2026
Up from 4.45% in July; food inflation 5.95% (rural 6.13%, urban 5.64%). Above RBI's 4% target but inside the 2-6% band; repo rate at 5.25% means the real policy rate is near zero.
Up from 4.45% in July; food inflation 5.95% (rural 6.13%, urban 5.64%). Above RBI's 4% target but inside the 2-6% band; repo rate at 5.25% means the real policy rate is near zero.
2 practice MCQs — UPSC Prelims pattern
Q1. With reference to foreign investment in India, consider the following statements: 1. An investment of less than 10% of the post-issue paid-up equity of a listed Indian company is treated as Foreign Portfolio Investment. 2. The Voluntary Retention Route (VRR) is meant for FPI investment in equity shares only. 3. Under the Fully Accessible Route (FAR), non-residents can invest in specified government securities without investment limits. Which of the statements given above are correct?
- 1 and 2 only
- 2 and 3 only
- 1 and 3 only
- 1, 2 and 3
Show answer
Answer: C
Statement 1 is correct – below 10% is FPI. Statement 2 is wrong – VRR is for debt investment. Statement 3 is correct – FAR (2020) removes limits on specified G-Secs.
Statement 1 is correct – below 10% is FPI. Statement 2 is wrong – VRR is for debt investment. Statement 3 is correct – FAR (2020) removes limits on specified G-Secs.
Q2. Consider the following pairs: 1. Orangutan – Native to Borneo and Sumatra 2. CITES Appendix I – Trade permitted without any permits 3. Wildlife Crime Control Bureau – Statutory body under the Wild Life (Protection) Act, 1972 How many of the pairs given above are correctly matched?
- Only one
- Only two
- All three
- None
Show answer
Answer: B
Pair 1 is correct. Pair 2 is wrong – Appendix I bans commercial trade and needs both export and import permits for exceptional trade. Pair 3 is correct – WCCB was set up in 2007 under the WPA, 1972.
Pair 1 is correct. Pair 2 is wrong – Appendix I bans commercial trade and needs both export and import permits for exceptional trade. Pair 3 is correct – WCCB was set up in 2007 under the WPA, 1972.
Mains practice questions
- Unilateral secondary sanctions by major powers are testing India's 'strategic autonomy' in energy security. Critically examine India's options in the light of the US Sanctioning Russia and Iran Act, 2026. (15 marks, 250 words)
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