Current Affairs Today 16th September 2026 Daily GK Update

Daily Current Affairs 16th September 2026 Daily GK Update

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National News

18th BRICS Summit 2026: Key Highlights

• The 18th BRICS Summit took place in New Delhi, India, at Bharat Mandapam from September 12 to 13, 2026, under India’s fourth chair-ship.

Summit Overview

• Theme: “Building for Resilience, Innovation, Cooperation and Sustainability”
• Participants: Delegations from 11 member states, 10 partner states, and international organizations.
• Key Focus: Strengthening intra-BRICS cooperation, supply chain stability, and reform of global governance
• Chair: Narendra Modi, Prime Minister of India
• BRICS 2027-China
• Ramanathaswamy Temple Featured at 18th BRICS Summit

The 18th BRICS Summit marks the institutionalization of the expanded grouping, consolidating cooperation across its three primary pillars:

• Political and Security Cooperation
• Economic and Financial Cooperation
• Cultural and People-to-People Exchanges

Under the 2026 Indian presidency, the grouping organized over 400 ministerial, official, and technical meetings across 30 Indian cities, anchoring initiatives in Prime Minister Narendra Modi’s vision of a people-centric, balanced, and development-oriented Global South agenda.

Key Highlights of the New Delhi Declaration:

• Reforming Global Multilateral Institutions & the UN
• Bretton Woods & International Trade Reforms
• Counter-Terrorism & Security Priorities
• Middle East & Regional Peace Mandates
• Major Economic, Financial & Technological Initiatives
• Green Energy, Grid Modernization & Critical Minerals
• Digital Public Infrastructure (DPI) & Artificial Intelligence
• Space Sustainability & The Gagarin Jubilee
• Public Health & Social Sector Outcomes
• Environmental & Climate Commitments

Participants  Members

• Brazil
• China
• Egypt
• Ethiopia
• India
• Indonesia
• Iran
• Russia
• South Africa
• United Arab Emirates

10 partner countries: Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.

University of Bristol Opens First International Campus in Mumbai

• The University of Bristol on 11 September opened its Mumbai Enterprise Campus, its first international campus, as overseas universities expand their physical presence in India following regulatory changes that allow foreign institutions to set up campuses in the country.
• The campus, located in Powai opposite the Indian Institute of Technology (IIT) Bombay, will offer programmes including finance and data science and facilitate research and industry collaborations.
• Students will also have opportunities to participate in global mobility programmes, including spending part of their studies at the university’s UK campus.

India to Host World Circular Economy Forum 2026 in Gandhinagar

• India will host the World Circular Economy Forum 2026 at Gandhinagar in Gujarat, from 15th to 18th of this month.
• The forum will be organised under the theme “Circular Economy: Transition for People and Prosperity.” Union Minister for Environment, Forest and Climate Change Bhupender Yadav will jointly inaugurate the event with Gujarat Chief Minister Bhupendra Patel on 15 September.
• The forum will enable global collaboration and greater engagement with the Global South, facilitate the mobilisation of circular finance and private-sector investment, encourage policy dialogue and cross-sectoral partnerships, and advance innovation, digitalisation and technology for circularity.

International News

Inaugural International Space Summit 2026 Held in Paris, France

• The Inaugural International Space Summit 2026 was held on September 9–10, 2026, at the Grand Palais in Paris, France. Championed by French President Emmanuel Macron and co-led with special envoys astronaut Thomas Pesquet and entrepreneur Hélène Huby.
• Brought together nearly 120 foreign delegations representing around 90 countries, including heads of state, ministers, space agencies, and private sector leaders. Notable addresses included an appearance via video conference by Indian Prime Minister Narendra Modi.
• Participants announced nearly 50 new partnerships and joint agreements on the first day alone, estimated to be worth around €20 billion. Discussions centered heavily on European space autonomy (such as the IRIS² satellite program), space sustainability, defense, and the global space economy.

Banking & Financial

Merchants to be charged 0.4% for UPI transactions over ₹2,000; small vendors exempt

• Starting October 15, 2026, the National Payments Corporation of India (NPCI) will introduce a 0.4% Merchant Discount Rate (MDR) on UPI merchant payments exceeding ₹2,000.
• Details on UPI Merchant Charges Customer Fee: Zero. Customers sending money or paying merchants will not pay any extra fees or hidden charges.
• Small Vendors Exempt: Small merchants with monthly UPI receipts up to ₹1,00,000 remain completely exempt from MDR charges. Rural and semi-urban QR code transactions are also exempt.
• Transaction Threshold: Transactions of ₹2,000 or less—and all person-to-person (P2P) transfers—continue to be entirely free.
• Sector Caps: Essential and high-volume sectors like railways, telecom, insurance, and fuel will incur a flat MDR fee of ₹5 for transactions over ₹2,000. For other categories, high-value transactions above ₹75,000 are capped at ₹300. Capital market investments (like mutual funds and stocks) are charged at a lower rate of 0.02% (capped at ₹300).

India’s WPI based inflation rises to 9.92 % in August

• India’s Wholesale Price Index (WPI) based inflation rose marginally to 9.92 per cent in August, from 9.78 per cent in July, on an annual basis.
• According to data released by the Ministry of Commerce and Industry, the annual inflation last month was driven by higher prices of mineral oils, food articles, food products, basic metals, non-food articles, chemicals and chemical products. The wholesale price inflation remained above the nine percent mark for the fourth consecutive month.

Recent 5-Month WPI Inflation Rates (YoY)

• April 2026:30% inflation rate
• May 2026: 9.88% inflation rate
• June 2026:97% inflation rate
• July 2026:78% inflation rate
• August 2026:92% inflation rate

NIPL and FOMO Pay Partner to Enable UPI QR Payments in Singapore

• NPCI International Payments Limited (NIPL) partnered with Singapore-based FOMO Pay to enable UPI QR acceptance for merchants in Singapore.
• Indian tourists can pay in Indian Rupees through UPI applications.
• Singapore merchants will receive settlement in Singapore Dollars, supporting seamless cross-border payments.
• Resorts World Sentosa is among the first merchant partners under the initiative.

Pluxee India Receives RBI Payment Aggregator Licence, Strengthening its Digital Payments Capabilities

• Pluxee India, a leading provider of employee benefits and engagement solutions, has received authorisation from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA) for both online (PA-O) & physical point-of-sale (PA-P).
• This marks another significant milestone in Pluxee’s evolution as a technology-led employee benefits and payments platform in India.
• The PA authorisation, received on 3 August 2026, complements Pluxee India’s existing Prepaid Payment Instrument (PPI) authorisation, which the company received in 2009 and subsequently expanded in 2020 to enable the issuance of General Purpose PPIs beyond Meal PPIs.
• Together, these regulatory capabilities strengthen Pluxee India’s ability to operate across the payment value chain, while continuing to deliver compliant, secure and seamless payment experiences to its clients, consumers and merchant partners.

JSW, Skoda-Volkswagen sign MoU for 51:49 India JV

• JSW Group and Volkswagen Group have signed a non-binding memorandum of understanding (MoU) to take forward their proposed 51:49 joint venture for Volkswagen’s passenger vehicle operations in India. The agreement starts exclusive talks on the valuation and other terms of the proposed deal, with a binding agreement targeted by December 2026.
• The final transaction value is yet to be determined, although market estimates have put the venture’s project investment and capital commitments at more than €1 billion, or around ₹10,000 crore.
• The proposed venture will initially cover the eight Skoda and Volkswagen brands sold in India, along with future launches, including electric vehicles. According to the reports, the partnership is expected to focus on mass-market internal combustion engine, hybrid and electric vehicles.
• Skoda Auto Volkswagen India’s manufacturing operations, workforce and supplier ecosystem could also become part of the JV.

Defence News

4th edition of India-Malaysia Maritime Exercise ‘Samudra Laksamana’ held in Lumut, Malaysia

• As part of its ongoing operational deployment, INS Mysore participated in the 4th edition of the bilateral naval exercise Samudra Laksamana alongside the Royal Malaysian Navy. The exercise took place at Lumut, Malaysia, from 09 to 12 Sep 2026.
• The personnel of both navies engaged in professional exchanges and interactions to share operational experiences and foster mutual understanding.
• INS Mysore conducted coordinated maritime evolutions with the Royal Malaysian Navy ships KD Lekir and KD Gagah Samudera. These activities focused on refining operational coordination and enhancing the interoperability of the two maritime forces.

List of Bilateral Exercises (2026)

• Yudh Abhyas 2026 (India–US): Conducted in Rajasthan and Uttarakhand
• IMBAX 2026 (India–Myanmar): at Umroi, Meghalaya
• MAITREE-XV (India–Thailand): at Surat Thani, Thailand
• Exercise Dharma Guardian (India–Japan): Hosted at Chaubattia, Uttarakhand

Sports News

India Wins Record Eighth Women’s Asia Cup Title

• The Indian women’s cricket team defeated Sri Lanka by 72 runs in the final of the Women’s Asia Cup 2026 at the Dubai International Cricket Stadium on 13 September 2026, winning the tournament for a record eighth time.
• With this victory, India won the Women’s Asia Cup for the eighth time, extending its record as the most successful team in the tournament.

Important Days

13 September: International Chocolate Day

• International Chocolate Day is celebrated every year on September 13th to honor the history, global appeal, and production of chocolate.
• The date marks the birthday of Milton S. Hershey, founder of The Hershey Company, born on September 13, 1857. The day also recognizes ancient Mesoamerican roots, where civilizations like the Maya and Aztecs first cultivated and used cacao over 3,000 years ago.
• While September 13 is widely observed as International Chocolate Day (especially in the U.S.), World Chocolate Day is also celebrated globally on July 7th.

15 September: National Engineer’s Day (India)

• India celebrates National Engineers’ Day on September 15 every year to mark the birth anniversary of the legendary Indian engineer and statesman, Sir Mokshagundam Visvesvaraya.
• Born on September 15, 1861, in Muddenahalli, Karnataka, Sir M. Visvesvaraya was a pioneering civil engineer known as the “Father of Modern Engineering in India”.
• He served as the chief engineer for the iconic Krishna Raja Sagara (KRS) Dam in Mysore and designed foolproof flood-protection systems for cities like Hyderabad. He was awarded India’s highest civilian honor, the Bharat Ratna, in 1955.
• The Government of India formally designated September 15 as National Engineers’ Day in 1968 to honor his immense contributions to society and nation-building.
• Theme 2026: “Smart engineering for a sustainable future through innovation and digitalization.”