Built by Ford Aerospace and operated by the Indian Space Research Organisation (ISRO), INSAT-1A was successfully launched. It was based upon a custom satellite bus developed for the INSAT-1 series. The spacecraft carried 12 C and 3 S band transponders, powered by a single solar array.

Aiming to provide a financial back to agricultural sector, National Bank for Agriculture and Rural Development (NABARD) was founded on July 12. NABARD is an apex development financial institution in India for agriculture. The Bank has been entrusted with "matters concerning policy, planning and operations in the field of credit for agriculture.

9th Asian Games, held in Delhi, was one of the first mega events in India. The event was organized between November 19-December 4. A total of 3,411 athletes from 33 National Olympic Committees participated in the games, competing in 196 events in 21 sports and 23 disciplines. India won 57 medals, including 13 Gold medals in the games.

Super star Amitabh Bachchan critically injured during the shoot of movie- Coolie in Bengaluru. The film became famous even before its release after the incident on July 26. Bachchan was injured while filming a fight scene with co-star Puneet Issar at the Bangalore University campus, which almost cost him his life.