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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

NABKISAN Lists India’s First Water, Sanitation and Hygiene Social Bond, Raises ₹180 Crore

• NABKISAN Finance Limited, a subsidiary of National Bank for Agriculture and Rural Development (NABARD), listed India’s first Social Bond exclusively dedicated to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE), Mumbai on 1 October 2026.
• The WASH-focused Social Bond raised ₹180 crore and was oversubscribed 1.8 times, reflecting strong investor participation.
• The bond has a 5-year tenure, carries a coupon rate of 8.10%, and will mature in September 2031.
• The bond received the highest domestic credit ratings of CRISIL AAA (Stable) and CARE AAA (Stable).
• The proceeds from the bond will be used to expand access to safe water, sanitation and hygiene solutions in rural and underserved communities.
• The financing aims to improve health outcomes, livelihoods and quality of life in rural and underserved areas.
• org served as the Technical Advisor and Knowledge Partner for the transaction.
• The bond listing involved stakeholders from NABARD, NABKISAN, Water.org, Trust Group and NSE, followed by the ceremonial bell ringing at NSE.
• The successful listing strengthens the commitment of NABARD and NABKISAN towards innovative financing, inclusive rural development, and the growth of India’s sustainable finance market.

Ministry of Finance Retains Small Savings Scheme Interest Rates Unchanged for Q3FY27 for 14th Consecutive Quarter

• The Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) kept the Small Savings Scheme (SSS) interest rates unchanged for Q3FY27, covering 1 October 2026 to 31 December 2026.
• The Q3FY27 interest rates remain the same as those applicable during Q2FY27 (1 July–30 September 2026).
• This marks the 14th consecutive quarter in which Small Savings Scheme interest rates have remained unchanged, with the last revision made in Q4FY24.

Key Highlights :

• Small Savings Schemes (SSS) are government-backed financial instruments designed to promote household savings and provide secure investment options.
• Small Savings Schemes are primarily managed by the Department of Economic Affairs (DEA), Ministry of Finance, and are administered through Post Offices and designated banks.
• Since 2016, the Government has been reviewing Small Savings Scheme interest rates on a quarterly basis, considering factors such as government bond yields, prevailing interest rates, and market and geopolitical conditions.
• Sukanya Samriddhi Yojana (SSY) continues to offer the highest listed interest rate of 2%, with a 21-year maturity period.
• Senior Citizens Savings Scheme (SCSS) continues to offer an interest rate of 2%.
• National Savings Certificate (NSC) continues to offer 7% interest.
• Kisan Vikas Patra (KVP) and the 5-year Post Office Time Deposit continue to offer 5% interest.
• The Monthly Income Scheme (MIS) continues to offer 4% interest.
• Public Provident Fund (PPF) continues to offer 1% interest with a 15-year maturity period.
• The 3-year Post Office Time Deposit offers 1%, while the 2-year Post Office Time Deposit offers 7.0%.
• The 1-year Post Office Time Deposit offers 9% interest.
• The 5-year Recurring Deposit (RD) offers 7% interest.
• The Post Office Savings Account continues to offer 4%
• PPF and Sukanya Samriddhi Yojana (SSY) are among the schemes offering EEE tax treatment, under which contributions, accumulated interest, and withdrawals are exempt from tax, subject to applicable rules.
• Small Savings Schemes are popular among conservative and long-term investors because they provide predictable, government-backed returns with limited exposure to daily market fluctuations.

Pramerica Life Insurance Introduces ‘Poorna Rakshak’ with Guaranteed Benefits Across 5 Variants

• Pramerica Life Insurance Limited launched Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan.
• Pramerica Life Insurance Limited is a Joint Venture (JV) between DIL and Prudential International Insurance Holdings Ltd. (PIIH).
• Poorna Rakshak combines life protection, guaranteed benefits, and a choice of income structures to meet customers’ financial goals and future milestones.
• The plan offers 5 variants, allowing customers to select benefits according to their financial targets, income requirements, and future milestones.
• Smart Scholars is designed for a child’s future milestones, with income beginning between 16 and 18 years of age and continuing until 20 to 25 years, along with a guaranteed lump-sum benefit at the end.
• Early Income is designed for customers seeking regular income from the early policy years, with income beginning from the 2nd, 3rd, or 4th policy year.
• Income Booster combines an upfront liquidity benefit with regular future income and offers cashback of 25% or 35% of the annualised premium within 10 days of realisation of the first premium after policy issuance.
• Smart Money Back provides guaranteed income at 5-year intervals, with each successive payout being double the previous payout.
• Smart Saver provides structured income from the 6th to the 10th year, along with maturity benefits.

About Pramerica Life Insurance Limited :

• Commenced its operations in India : 1 September 2008.
• Headquarters : Gurugram, Haryana.

Government Lowers Windfall Tax on Diesel and Aviation Turbine Fuel Exports, Keeps Petrol Duty Unchanged

• The Ministry of Finance (MoF) revised the windfall tax/export levy on diesel and Aviation Turbine Fuel (ATF), with the revised rates effective from 1 October 2026.
• The diesel export duty was reduced from ₹20 per litre to ₹16 per litre.
• The ATF export duty was reduced from ₹15 per litre to ₹10.5 per litre.
• The petrol export duty was kept unchanged at ₹0.5 per litre for the fortnight beginning 1 October 2026.
• The revised levy comprises the Special Additional Excise Duty (SAED) along with the Road and Infrastructure Cess applicable to exports.
• There is no change in the existing duty rates on petrol and diesel cleared for domestic consumption.
• The Government had initially imposed the export levy on diesel and ATF on 27 March 2026 amid the West Asia geopolitical crisis.
• The export levy on petrol was introduced later on 16 May 2026.
• The Government revises the windfall tax every fortnight in response to changes in global crude oil prices and international market conditions.
• The main objective of the windfall tax is to ensure adequate domestic fuel availability and discourage excessive exports of petroleum products.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Oil and Natural Gas Corporation Discovers Natural Gas in Mahanadi Offshore Basin

• The Oil and Natural Gas Corporation (ONGC) has discovered natural gas in a deepwater exploratory well in the Mahanadi Offshore Basin, located around 43 km off the Konark coast of Odisha.
• The discovery was made on 18 September 2026 from the MN-DW18-1-H-D well, also identified as MDW-28.
• ONGC reported encouraging gas flow and sustained reservoir pressure from the well.
• The well is situated in the Mahanadi Offshore Basin, a significant hydrocarbon-bearing region along India’s eastern coast.
• Its location close to the Odisha coastline may support early monetisation, subject to further appraisal and commercial assessment.

Key Highlights

• The well represents ONGC’s first drilling activity in the Mahanadi Basin under the Samudra Manthan campaign. Drilling began on 25 July 2026 using the drillship Platinum Explorer.
• Samudra Manthan is focused on expanding exploration activities across India’s offshore, deepwater and ultra-deepwater regions.
• The programme has an estimated outlay of around ₹84,084 crore up to 2030–31 and is intended to support offshore surveys, deepwater drilling and shared production infrastructure.
• The latest discovery does not yet confirm the quantity of commercially recoverable natural gas reserves. ONGC will conduct additional appraisal, reservoir assessment and commercial evaluation before taking a development decision.
• The initial gas flow and reservoir pressure response from the well have been described as encouraging.
• The new discovery, along with other nearby discoveries, could potentially be developed using shared facilities. This possibility is associated with the provisions of the Petroleum and Natural Gas Rules, 2025.
• The discovery adds to ONGC’s earlier finds in the region, including the Utkal and Konark discoveries, strengthening the geological basis for continued exploration of the Mahanadi Basin.
• The discovery is relevant to India’s energy security efforts as it contributes to the expansion of the country’s domestic hydrocarbon resource base.
• Higher domestic production could help reduce dependence on imported oil and natural gas.
• About Samudra Manthan: It is a government-backed initiative aimed at accelerating the exploration of India’s offshore hydrocarbon resources, particularly in deepwater and ultra-deepwater areas.

About Odisha:

• Chief Minister: Mohan Charan Majhi
• Governor: Hari Babu Kambhampati
• Capital: Bhubaneswar
• National Parks: Simlipal National Park, Bhitarkanika National Park, Nandankanan National Park

• Wildlife Sanctuaries: Bhitarkanika Wildlife Sanctuary, Chilika Wildlife Sanctuary, Balukhand-Konark Wildlife Sanctuary, Debrigarh Wildlife Sanctuary, Gahirmatha Marine Wildlife Sanctuary, Satkosia Gorge Wildlife Sanctuary, Chandaka-Dampara Wildlife Sanctuary, Kuldiha Wildlife

Gujarat Becomes Second State to Receive Presidential Assent for Uniform Civil Code

• Gujarat has become the second state in India, after Uttarakhand, to receive the President’s assent for its Uniform Civil Code (UCC).
• The Gujarat Uniform Civil Code Bill, 2026 was passed by the Gujarat Legislative Assembly in March 2026.
• The legislation was subsequently published in the Gujarat Government Gazette.
• The Uniform Civil Code establishes a common legal framework for civil matters such as marriage, divorce, succession, inheritance and live-in relationships for citizens residing in Gujarat.
• The law also extends its jurisdiction to Gujarat residents living outside the state.
• The provisions of the Gujarat Uniform Civil Code do not apply to Scheduled Tribes, thereby preserving constitutional protections relating to their customary rights.

Key Highlights

• Mandatory registration of marriages is an important provision under the law. Marriages solemnised in Gujarat, or involving a Gujarat resident, must be registered within 60 days, with monetary penalties applicable for non-compliance.
• The legislation also establishes formal legal procedures and registration requirements for live-in relationships.
• Children born from a registered live-in relationship are recognised as legitimate under the law.
• The Act provides uniform legal provisions for succession, inheritance and the preparation of wills.
• Polygamy and bigamy are prohibited under the Gujarat Uniform Civil Code. Monogamy is made a condition for marriage, requiring that neither party have a living spouse at the time of marriage.
• The minimum marriageable age remains 21 years for men and 18 years for women.
• The law provides common grounds for divorce, including adultery, cruelty, desertion for at least two years, conversion and disappearance for seven years.
• No marriage can be dissolved except according to the provisions of the Gujarat Uniform Civil Code, irrespective of any contrary personal law, custom or tradition.
• Registration of divorce is mandatory under the legislation.
• Live-in partners are required to declare their relationship by submitting a statement to the concerned authorities.
• Although the legislation has received Presidential assent, it will come into force only on a date notified by the Gujarat Government. The state is preparing the required administrative framework and procedural rules for implementation across all districts.
• Uttarakhand implemented its Uniform Civil Code in 2025.
• Assam has also passed a similar legislation and is awaiting the President’s approval.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Dev Vrat
• Capital: Gandhinagar
• National Parks: Gir, Blackbuck, Gulf of Kutch (Marine), Vansda National Parks
• Wildlife Sanctuaries: Nal Sarovar Bird, Wild Ass, Kutch Desert, Barda, Purna Wildlife Sanctuaries

RECENT NEWS

• The government of Gujarat has now reorganized the Porbandar forest division so that forest management could be improved and the rehabilitation of Barda as a second habitat of the Asiatic lions could be facilitated.

Mumbai Port Authority Declares Jawahar Dweep Marine Oil Terminal Plastic-Free

• Mumbai Port Authority (MbPA) declared its Jawahar Dweep Marine Oil Terminal plastic-free, marking an important step towards more sustainable port operations.
• The declaration was made during Swachhata Abhiyan 2026, a cleanliness programme organised at Grey Gate, Indira Dock, Mumbai, to mark the birth anniversary of Mahatma Gandhi.

Key Highlights

• Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal led the event. Dr. M. Angamuthu, Chairperson of Mumbai Port Authority, Ravish Kumar Singh, Deputy Chairman, and other officials also participated.
• Jawahar Dweep, one of Mumbai Port Authority’s key oil terminals, became plastic-free as part of the port’s broader efforts to reduce single-use plastic across its operations.
• Mumbai Port Authority stated that it would continue similar plastic-reduction initiatives at its docks, residential colonies and coastal areas throughout the year.
• During the programme, Sonowal also dedicated the port’s Oil Spill Response (OSR) facilities to the nation.
• The event concluded with a cleanliness drive led by Sarbananda Sonowal at several port locations, including:
• The area south of 18ID
• Oil Spill Response facilities
• A sea-cleaning activity
• The wharf at the BPX North Area
• A mooring staff toilet facility
• These cleanliness activities served as a practical demonstration of the Swachhata Pledge taken during the programme.
• Mumbai Port Authority reiterated its commitment to advancing Prime Minister Narendra Modi’s Swachh Bharat vision, while integrating sustainability and employee welfare into its day-to-day functioning.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Jishnu Dev Varma
• Capital: Mumbai
• National Parks: Tadoba National Park, Gugamal National Park, Chandoli National Park, Navegaon National Park, Sanjay Gandhi National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Radhanagari Wildlife Sanctuary, Lonar Wildlife Sanctuary, Nagzira Wildlife Sanctuary, Phansad Wildlife Sanctuary, Tungareshwar Wildlife Sanctuary, Thane Creek Flamingo Wildlife Sanctuary

RECENT NEWS

• The Maharashtra Freedom of Religion Act, 2026, which is referred to as the anti-conversion law of the state, has been given the approval of President Droupadi Murmu, which was fighting the last constitutional requirement for the law to be enforced.

Odisha Announces Cash Rewards for Indian Women’s Hockey Team After Asian Games Gold

• Odisha Chief Minister Mohan Charan Majhi announced a cash reward of ₹11 lakh each for the players of the Indian women’s hockey team for winning the gold medal at the 2026 Asian Games.
• Each support staff member of the Indian women’s hockey team will receive a cash reward of ₹5.5 lakh.
• India ended a 44-year wait for the Asian Games women’s hockey gold medal by defeating defending champions and Olympic silver-medallists China 1–0 in the final.

Key Highlights

• With the Asian Games gold medal victory, the Indian women’s hockey team also qualified for the 2028 Los Angeles Olympic Games.
• The Chief Minister’s Office, Odisha, announced the rewards in recognition of the team’s historic gold medal victory at the 2026 Asian Games.
• Odisha Sports Department Secretary Bhupendra Singh Poonia clarified that the ₹11 lakh cash reward announced by the Odisha Chief Minister for each player is over and above the reward announced by Hockey India.
• The Indian women’s hockey team had previously won the Asian Games gold medal in 1982.
• The Odisha Government will remain the official sponsor of the Indian men’s and women’s hockey teams, covering both senior and junior teams, until 2036.
• In 2018, Odisha became the first Indian state to sponsor the national hockey teams.

RECENT NEWS

• Five orphaned orangutans that had been rescued from the Bichitrapur forest of the Balasore district in Odisha have come into focus concerning wildlife trafficking internationally and the legal protection of exotic animals in India.

Prime Minister Narendra Modi’s ‘Mann Ki Baat’ Completes 12 Years

• Prime Minister Narendra Modi’s monthly radio programme, ‘Mann Ki Baat’, completed 12 years, marking more than a decade of connecting with citizens across India.
• The first episode of ‘Mann Ki Baat’ was broadcast in 2014 on the occasion of Vijayadashami.
• The programme has completed 12 years of broadcasting, with the 138th episode being broadcast recently.

Key Highlights

• Over the past 12 years, ‘Mann Ki Baat’ has provided a platform to highlight positive transformations taking place across the country and encouraged citizens to actively participate in India’s development journey.
• Through the monthly programme, the Prime Minister shares inspiring stories of people from different parts of India who are contributing to society and bringing positive change.
• The programme highlights contributions in areas such as education, healthcare, environmental conservation, innovation and social service.
• ‘Mann Ki Baat’ is broadcast through the Akashvani and Doordarshan networks, making it accessible to people across the country.
• The programme is also available through the AIR News website and the Newsonair mobile application.
• ‘Mann Ki Baat’ is live-streamed on the YouTube channels of AIR News, DD News, the Prime Minister’s Office and the Ministry of Information and Broadcasting.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Agricultural and Processed Food Products Export Development Authority Facilitates Export of 24 MT Frozen Food Consignment from Haryana to Canada

• APEDA (Agricultural and Processed Food Products Export Development Authority) facilitated the flag-off of a 24 MT consignment of frozen food products from Sonipat, Haryana to Canada on 1 October 2026.
• The consignment was exported by Aterna Foods Producer Company Limited, a Farmer Producer Organisation (FPO).
• The shipment consisted of 2,295 boxes of frozen food products and was valued at CAD 35,140.
• The exported products included green peas, mixed vegetables, peas and carrots, sweet corn, and samosa, among other frozen food items.
• The exporting unit received support from APEDA under its Financial Assistance Scheme, aimed at promoting and facilitating agricultural and processed food exports.
• APEDA is a statutory body under the Ministry of Commerce and Industry, Government of India, established under the Agricultural and Processed Food Products Export Development Authority Act, 1985.
• APEDA is responsible for the development and promotion of exports of scheduled agricultural and processed food products and supports exporters through market development, quality improvement, infrastructure support, and financial assistance.
• The export highlights the role of FPOs/FPCs in connecting farmer groups with international markets and integrating them into global agricultural value chains.
• NIFTEM (National Institute of Food Technology Entrepreneurship and Management) was associated with the export effort and is linked with food technology, entrepreneurship, and management.
• NIFTEM functions under the Ministry of Food Processing Industries.

About Canada  :

• Prime Minister : Mark Carney
• Capital : Ottawa
• Currency : Canadian dollar ($)

Agricultural and Processed Food Products Export Development Authority Enables Export of Bihar’s Makhana from Purnea to Greece

• APEDA (Agricultural and Processed Food Products Export Development Authority) facilitated the export of 1 metric tonne (MT) of popped (Phool) Makhana from Purnea, Bihar to Greece on 2 October 2026.
• The shipment was transported from Mundra Port, India to Piraeus Port, Greece, marking an important step in expanding international market access for Bihar’s traditional Makhana.
• The consignment was sourced by Indo Global Export, Belouri, Purnea, and exported through S. Foods Exports Pvt. Ltd., New Delhi.
• India is the world’s largest producer of Makhana, while Bihar contributes around 80–85% of India’s total Makhana production.
• Makhana cultivation in Bihar covers more than 35,000 hectares across 10 districts.
• Popped Makhana is a processed food product made from the seeds of the aquatic plant Euryale ferox, commonly known as fox nuts.
• The export of value-added Makhana products can provide higher price realisation for producers compared with prevailing domestic market prices.
• India exported over 7,000 MT of Makhana and value-added Makhana products worth US$22 million in FY 2025–26 to more than 20 international destinations.
• Greece has emerged as an overseas market for Indian agricultural products through the Mundra Port–Piraeus Port sea route.
• Bihar Agricultural University (BAU), Sabour, and ICAR–National Research Centre for Makhana, Darbhanga, provide technical support for Makhana cultivation and processing.
• The Government of Bihar is developing an Agri Export Policy, while packhouses have been established to strengthen the Makhana export value chain.
• Export-oriented value chains can strengthen links between Makhana producers and international buyers and create opportunities for better returns to farmers.
• The flag-off programme was chaired by Vijay Kumar Sinha, Agriculture Minister, Government of Bihar, in the presence of Abhishek Dev, Chairman of APEDA, and Abhishek Kumar, Director of Horticulture, Agriculture Department, Government of Bihar.

About Greece :

• President : Konstantinos Tasoulas
• Prime Minister : Kyriakos Mitsotakis
• Capital : Athens
• Currency : Euro

HSBC Report 2026: 74% Indian Entrepreneurs Plan Overseas Residency as Artificial Intelligence Adoption Rises

• HSBC Global Entrepreneurial Wealth Report 2026 surveyed more than 3,000 High Net Worth (HNW) and Ultra-High Net Worth (UHNW) entrepreneurs globally and highlighted the changing global outlook and Artificial Intelligence (AI) adoption among Indian entrepreneurs.

Key Highlights :

• 74% of Indian entrepreneurs plan to relocate or obtain an additional overseas residency, compared with the global average of 70%.
• Singapore is the most preferred overseas destination among Indian entrepreneurs at 14%, followed by France, the UK, and the US at 11% each.
• 99% of Indian entrepreneurs have already made or plan to make changes to their business operations because of Artificial Intelligence (AI), compared with 95% globally.
• 65% of Indian entrepreneurs have already adjusted their businesses in preparation for AI, compared with the global average of 60%.
• 54% of Indian entrepreneurs plan to invest 11–30% of their turnover in AI over the next 12 months, compared with 61% globally.
• 46% of Indian entrepreneurs view AI as a source of competitive advantage, while 42% believe it can help identify new markets or business opportunities.
• 39% of Indian entrepreneurs expect AI to help increase employee productivity and improve profit margins.
• 45% of Indian entrepreneurs expect AI to increase employee headcount over the next two years, while 25% expect it to decrease.
• The major concerns regarding AI adoption among Indian entrepreneurs are data privacy and security (44%), employee resistance due to fears of job losses (38%), and integration with legacy systems (35%).
• 54% of Indian entrepreneurs have “a great deal” of trust in AI to support business activities, compared with 46% globally.
• 97% of Indian entrepreneurs expect their personal wealth to improve over the next few years, compared with 90% globally and 95% in 2025.
• 51% of Indian entrepreneurs expect their wealth to become “a lot better”, compared with 44% globally.
• 97% of Indian entrepreneurs are positive about their current business prospects, compared with 95% globally.
• The major reasons for optimism about business prospects are technological advancements (46%), business opportunities and performance (42%), and advancements in AI (40%).
• The most commonly held personal investments among Indian entrepreneurs are gold (63%), cash (54%), real estate funds (51%), and private equity funds (48%).
• Among entrepreneurs who already hold the respective assets, 71% plan to increase investment in real estate funds over the next 12 months.
• Gold, direct investments in private companies, and infrastructure funds are each expected to see increased investment from 61% of relevant Indian entrepreneurs.
• The leading factors influencing investment in alternative assets are higher risk-adjusted returns (50%), inflation protection (46%), and portfolio diversification (46%).
• The major concerns regarding alternative assets are lack of valuation transparency (39%), high management fees and costs (38%), market correction risk (36%), and limited liquidity (36%).
• The leading objectives for wealth protection and investment decisions are protecting financial wealth against inflation (47%), protecting wealth against losses (43%), and achieving global diversification (35%).

About HSBC :

• HSBC (Hongkong and Shanghai Banking Corporation) was established in 1865 and is headquartered in London, United Kingdom; Noel Quinn is its Chief Executive Officer (CEO).

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reserve Bank of India Appoints Sudhakar Malli as Executive Director

• Reserve Bank of India (RBI) appointed Shri Sudhakar Malli as Executive Director (ED) with effect from 1 October 2026.
• Before his appointment as ED, Sudhakar Malli was serving as Chief General Manager-in-Charge (CGM-in-Charge) of the RBI’s Department of Supervision.
• As Executive Director, Shri Sudhakar Malli will be responsible for the Department of Supervision (Supervisory Assessment) at the RBI.

About Shri Sudhakar Malli :

• Shri Sudhakar Malli is a career central banker with around three decades of experience in the RBI.
• He has over two and a half decades of experience in supervising banks, Non-Banking Financial Companies (NBFCs) and co-operative banks.
• He has around five years of supervisory experience in overseas jurisdictions, adding to his expertise in financial-sector supervision.
• During his RBI career, he has also worked in the area of Currency Management.
• Shri Sudhakar Malli holds a BTech degree in Mechanical Engineering and is a Certified Associate of the Indian Institute of Bankers (CAIIB).

ICICI Prudential Life Insurance Appoints Sidharatha Mishra as Managing Director and Chief Executive Officer for Five Years

• ICICI Prudential Life Insurance Company Limited appointed Sidharatha Mishra as Additional Director, Managing Director (MD) and Chief Executive Officer (CEO) for a five-year term, subject to the required regulatory approvals.
• Sidharatha Mishra’s appointment as MD & CEO will be effective from 14 October 2026 or the date of IRDAI approval, whichever is later.
• He was appointed as the company’s Chief Operating Officer (COO) with effect from 6 October 2026.
• Sidharatha Mishra will succeed Anup Bagchi, who resigned as MD & CEO with effect from the close of business on 13 October 2026 to pursue a career opportunity outside the organisation.
• Anup Bagchi had resigned on 1 October 2026, following the announcement of his appointment as MD & CEO of HDFC Bank, effective 13 October 2026.
• Sidharatha Mishra is an ICICI Group veteran with more than 26 years of experience in the banking sector.
• He currently heads Digital Channels & Partnerships, Voice Channel, Customer Service, NRI and IFIG groups at ICICI Bank Limited.

About ICICI Prudential Life Insurance :

• It was established as a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited.

Fatima Ezzahra El Mansouri Becomes Morocco’s First Woman Prime Minister

• Fatima Ezzahra El Mansouri, a senior leader of the Authenticity and Modernity Party (PAM), was appointed Prime Minister/Head of Government of Morocco by King Mohammed VI following the 23 September 2026 parliamentary elections.
• Fatima Ezzahra El Mansouri became Morocco’s first woman Head of Government/Prime Minister and the second woman to serve as head of government in the Arab world, after Najla Bouden of Tunisia (2021–2023).
• King Mohammed VI appointed El Mansouri under Article 47 of the Moroccan Constitution, which requires the King to appoint the Head of Government from the party that wins the largest number of seats in the House of Representatives.
• In the 2026 parliamentary election, PAM won 97 out of 395 seats, emerging as the largest party, but it fell short of the 198-seat majority threshold and therefore needs to form a coalition government.
• The National Rally of Independents (RNI) won 66 seats, while Istiqlal secured 65 seats in the 2026 parliamentary election.
• Fatima Ezzahra El Mansouri will lead coalition negotiations and submit the proposed list of ministers to King Mohammed VI for approval.
• Fatima Ezzahra El Mansouri was born in Marrakesh on 3 January 1976 and is a lawyer by profession, specialising in commercial and property transactions.
• She began her political career in 2007 with the Movement of All Democrats, which preceded the establishment of the PAM in 2008.
• In 2009, at the age of 33, El Mansouri became the first woman elected Mayor of Marrakesh.
• She was elected to the Moroccan Parliament in 2011 and served two terms before returning as Mayor of Marrakesh in 2021.
• El Mansouri served as Chair of PAM’s National Council from 2015 to 2024 and became coordinator of PAM’s collective leadership in 2024.
• In October 2021, she joined the government as Minister of National Territorial Planning, Urban Planning, Housing and City Policy under then-Prime Minister Aziz Akhannouch.
• Aziz Akhannouch, the outgoing Prime Minister and leader of the National Rally of Independents (RNI), was succeeded as Head of Government by Fatima Ezzahra El Mansouri.
• Forbes named El Mansouri among Africa’s 20 most influential young women in 2014, and she was also selected as a Young Global Leader in the same year.

About Morocco :

• Morocco is a constitutional monarchy, in which the King is the Head of State and the Prime Minister/Head of Government leads the government.
• Morocco has a bicameral Parliament, consisting of the House of Representatives and the House of Councillors.
• Capital : Rabat
• Currency : Moroccan dirham

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Approves BNP Paribas Cardif’s Acquisition of 26% Stake in IndiaFirst Life Insurance

• The Competition Commission of India (CCI) approved BNP Paribas Cardif’s acquisition of a 26% stake in IndiaFirst Life Insurance Company Limited.
• BNP Paribas Cardif will acquire the 26% stake from private equity firm Warburg Pincus, as per the definitive agreement signed in July 2026.
• After completion of the transaction, the shareholding of IndiaFirst Life Insurance Company Limited will be Bank of Baroda (BoB) – 65%, BNP Paribas Cardif – 26%, and Union Bank of India (UBI) – 9%.
• Bank of Baroda (BoB) will remain the majority shareholder, holding a 65% stake in IndiaFirst Life.
• IndiaFirst Life Insurance Company Limited is a private life insurer promoted by Bank of Baroda (BoB) and licensed by the Insurance Regulatory and Development Authority of India (IRDAI).
• BNP Paribas Cardif, the insurance arm of BNP Paribas Group, is incorporated in France and is a wholly owned subsidiary of BNP Paribas SA.
• BNP Paribas SA is a publicly listed company that provides corporate and institutional banking, commercial and personal banking, investment, and protection services.
• In India, BNP Paribas and its affiliates provide a wide range of financial and advisory services.

About CCI :

• CCI is a statutory body established under the Competition Act, 2002, which was amended in 2007.
• CCI is India’s national competition regulator and functions under the Ministry of Corporate Affairs (MCA).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Dhamra Port in Odisha Shifts Entire Electricity Consumption to Renewable Power

• Dhamra Port in Odisha, operated by Adani Ports and Special Economic Zone (APSEZ), has shifted its entire electricity consumption to renewable power with effect from August 2026.
• Dhamra Port has become India’s first large-scale private multi-cargo port to operate completely on renewable electricity.
• The port now meets more than 90 lakh units of monthly electricity demand from renewable energy sources.
• Its renewable electricity consumption exceeds 108 GWh annually on an annualised basis at the current operating level.
• The transition is part of APSEZ’s long-term Net-Zero strategy and aims to reduce emissions associated with purchased electricity and support decarbonisation.
• Renewable electricity now powers the port’s 24×7 operations, including cargo handling, storage, rail-linked activities and critical infrastructure.
• The renewable power supply is sourced through a combination of captive renewable power, third-party access arrangements and green-power procurement under Odisha’s regulatory framework.
• Around 25–30% of Dhamra Port’s renewable electricity comes from APSEZ’s captive hybrid power plant at Khavda, Gujarat, while another 10–15% is sourced through third-party access.
• The remaining renewable electricity requirement is met through a Green Consumer arrangement with Odisha’s distribution utility.
• Dhamra Port is located on the Odisha coast between Haldia and Paradip and is one of eastern India’s key deep-draft ports.
• Dhamra Port has an installed cargo-handling capacity of 60 million tonnes (MT) and handled 8 MT of cargo in FY 2025–26.
• The port has six dry-cargo berths, rapid-loading silos, wagon tipplers, track hoppers, mechanised storage yards and jetty equipment, along with rail and road connectivity.
• Dhamra Port connects mineral-rich hinterlands across Odisha, Jharkhand and West Bengal, making it an important logistics facility for eastern India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Tata Projects and MDS Aero Support Corporation Partner to Develop Aero-Engine Testing Infrastructure

• Tata Projects, an India-based technology-driven Engineering, Procurement and Construction (EPC) company, and MDS Aero Support Corporation (MDS), a global specialist in gas turbine engine testing solutions, have entered into a strategic partnership through a Memorandum of Understanding (MoU).
• The partnership will focus on the joint development and delivery of advanced aero-engine testing infrastructure in India, supporting the country’s expanding aerospace and propulsion ecosystem.
• Tata Projects will contribute its experience in engineering and executing mission-critical and technology-intensive facilities, while MDS will provide specialised expertise in gas turbine engine testing.

Key Highlights

• Tata Projects has experience in developing specialised testing infrastructure for India’s strategic programmes, including:
• Integrated cryogenic engine and stage testing infrastructure
• Semi-cryogenic engine test facilities
• Tri-sonic wind tunnels
• Under the partnership, Tata Projects will undertake key infrastructure components such as civil and structural works, Mechanical, Electrical and Plumbing (MEP) systems, high-air-pressure systems, Heating, Ventilation and Air Conditioning (HVAC), high-temperature exhaust systems, cooling-water systems and related site infrastructure.
• MDS Aero Support Corporation will contribute expertise in the design, engineering, supply, integration, commissioning and lifecycle support of advanced gas turbine engine test facilities and systems.
• Founded in 1985, MDS has executed gas turbine engine testing projects in more than 27 countries. It has developed turnkey testing capabilities covering individual engine components to complete engines across the aviation, defence and industrial sectors.
• MDS has been recognised as one of Canada’s Best Managed Companies since 2012.
• The partnership expands Tata Projects’ portfolio in areas including aerospace, space, semiconductors, advanced technology facilities and other mission-critical infrastructure, further supporting infrastructure development for India’s emerging strategic industries.

Indian Council of Agricultural Research and Food Corporation of India Sign Agreement for Sustainable Grain Storage Pest Management

• The Indian Council of Agricultural Research (ICAR) and the Food Corporation of India (FCI) signed a Memorandum of Understanding (MoU) to conduct research on alternative fumigation technologies for the safe and sustainable management of storage pests in wheat and rice.
• The research initiative is supported by the Department of Food and Public Distribution (DFPD), Ministry of Consumer Affairs, Food and Public Distribution.

Key Highlights

• The two-year Phase-I project will be implemented by the ICAR–Central Institute of Post-Harvest Engineering and Technology (ICAR-CIPHET), Ludhiana.
• India’s critical foodgrain reserves have traditionally depended heavily on aluminium phosphide (ALP) and malathion for post-harvest pest control. However, their repeated and widespread use has resulted in significant challenges.
• Pest resistance to these fumigation methods has reached 72%–100% in several key Indian states, increasing the frequency of fumigation and consequently raising operational costs.
• Three major trials will be undertaken during Phase-I:
• Nitrogen gas (>99%) fumigation will be tested for managing storage pests in wheat stored in metal silos.
• A combined carbon dioxide and phosphine gas fumigation method will be evaluated for controlling storage pests in bagged wheat and rice stored at Food Corporation of India and Central Warehousing Corporation warehouses.
• Carbon dioxide fumigation will be tested for managing storage pests in bagged wheat and rice enclosed in hermetic covers.
• After the two-year Phase-I pilot project, Phase-II will involve a one-year multi-location trial covering different agro-climatic zones.
• Phase-II is intended to help establish region-specific Standard Operating Procedures (SOPs) for the alternative fumigation technologies.
• The overall initiative seeks to develop scientifically validated, scalable and sustainable alternatives to conventional chemical fumigation while addressing pest resistance, occupational exposure, environmental impacts and fumigant residues.
• The agreement was signed by Dr. Nachiket Kotwaliwale, Director, ICAR-Central Institute of Post-Harvest Engineering and Technology, and Dr. A. K. Sinha, Executive Director (Quality Control), Food Corporation of India.

Coal India and Hindustan Urvarak & Rasayan Sign Non-Binding Memorandum of Understanding for Coal Gasification-Based Urea Production

• Coal India Limited (CIL) and Hindustan Urvarak & Rasayan Limited (HURL) signed a non-binding Memorandum of Understanding (MoU) to explore the development of a coal gasification-based urea production facility at Sindri, Jharkhand.
• Coal India disclosed the MoU through a regulatory filing.

Key Highlights

• Under the MoU, both companies will jointly examine the feasibility of the proposed project. The agreement does not involve any firm commitment regarding investment, production capacity or project timelines at this stage.
• The proposed project will use coal gasification technology, which converts coal into synthesis gas (syngas), consisting mainly of carbon monoxide and hydrogen.
• The syngas can be used to produce chemicals such as ammonia, which can subsequently be used for urea production.
• Sindri, Jharkhand, has a long association with India’s fertiliser industry and has hosted fertiliser production facilities for several decades.
• HURL was established as a joint venture to revive and modernise dormant fertiliser plants, including the Sindri fertiliser plant, as part of efforts to strengthen domestic urea production and reduce import dependence.
• HURL was formed through a joint venture involving Coal India Limited, National Thermal Power Corporation Limited, Indian Railway Construction International Limited and Fertilizer Corporation of India.
• The proposed partnership combines Coal India’s access to coal resources and mining expertise with HURL’s fertiliser manufacturing experience and existing infrastructure at Sindri.
• The MoU is also aligned with Coal India’s diversification strategy, under which the company is exploring downstream applications such as coal gasification and coal-to-chemicals projects to add value to its coal output.
• The agreement remains non-binding, and the project would require further feasibility studies, regulatory and environmental approvals, investment decisions, construction and commissioning before becoming operational.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Non-Violence is observed on 2 October

• The International Day of Non-Violence is observed every year on 2 October to commemorate the birth anniversary of Mahatma Gandhi  (Mohandas Karamchand Gandhi), a prominent advocate of non-violent resistance during India’s freedom struggle.
• Non-violence refers to rejecting the use of physical violence and promoting peaceful methods for resolving conflicts.
• Non-violent methods can support social and political change through approaches such as civil disobedience, Satyagraha, and economic or political non-cooperation.
• The Nonviolence Project Foundation was established in 1993 with the objective of educating and encouraging young people to develop skills for resolving conflicts peacefully.
• The philosophy of non-violence promotes resisting violence without causing harm to people or other living beings and encourages care, compassion and peaceful action.
• Mahatma Gandhi described non-violence as the greatest force available to humanity.
• In 2004, Shirin Ebadi, an Iranian Nobel laureate, proposed the idea of observing an International Day of Non-Violence.
• The proposal gradually received support from leaders of India’s Congress Party, who called upon the United Nations in January 2007 to adopt the initiative.
• On 5 June 2007, the United Nations General Assembly (UNGA) adopted a resolution establishing the International Day of Non-Violence.
• The International Day of Non-Violence is observed on 2 October as a tribute to Mahatma Gandhi and his philosophy of non-violence and peaceful resistance.

Gandhi Jayanti is observed on 2 October

• Gandhi Jayanti is observed every year on 2 October to commemorate the birth anniversary of Mahatma Gandhi (Mohandas Karamchand Gandhi), who was born on 2 October 1869.
• Gandhi Jayanti is a national holiday in India. Mahatma Gandhi played a significant role in India’s freedom struggle and promoted non-violence and Satyagraha as important means of resistance.
• The United Nations General Assembly (UNGA) adopted a resolution on 15 June 2007 declaring 2 October as the International Day of Non-Violence in recognition of Mahatma Gandhi’s philosophy of non-violence.
• Major movements associated with Mahatma Gandhi during India’s freedom struggle include:
• Champaran Satyagraha – 1917: Gandhi’s first major Satyagraha in India, launched in Champaran, Bihar, in support of indigo farmers. The movement led to the abolition of the Tinkathia system.
• Kheda Satyagraha – 1918: A farmers’ movement in Kheda, Gujarat, against tax collection during famine conditions. Sardar Vallabhbhai Patel led the movement under Gandhi’s guidance.
• Khilafat Movement – 1919: Gandhi supported the movement led by Shaukat Ali and Maulana Mohammad Ali Jauhar and worked with Khilafat leaders for the causes of Khilafat and Swaraj.
• Non-Cooperation Movement – 1920: Gandhi launched the movement against British rule. It was withdrawn in 1922 following the Chauri Chaura incident, where protesters killed 22 policemen.
• Dandi March – 1930: Gandhi led the Salt March from Sabarmati Ashram to Dandi as part of the Civil Disobedience Movement against the British salt tax.
• Quit India Movement – 1942: Gandhi launched the movement on 8 August 1942, demanding an end to British rule in India. It is also known as the August Kranti Movement.

International Day for the Total Elimination of nuclear weapons is observed on 26 September

• The United Nations (UN) observes the International Day for the Total Elimination of nuclear weapons every year on 26 September to spread awareness about the dangers posed by nuclear weapons and encourage their complete elimination.
• The designation followed the first high-level meeting of the United Nations General Assembly on nuclear disarmament, which focused on advancing international efforts towards nuclear disarmament.
• The observance reinforces the global commitment to nuclear disarmament and the complete elimination of nuclear weapons.
• The first observance of the International Day for the Total Elimination of nuclear weapons was held on 26 September 2014.
• On 26 September 2013, the United Nations General Assembly (UNGA) adopted Resolution A/RES/68/32, officially designating 26 September as the International Day.

Daily CA One- Liner: October 4 & 5

• The Oil and Natural Gas Corporation (ONGC) has discovered natural gas in a deepwater exploratory well in the Mahanadi Offshore Basin, located around 43 km off the Konark coast of Odisha
• Gujarat has become the second state in India, after Uttarakhand, to receive the President’s assent for its Uniform Civil Code
• Mumbai Port Authority (MbPA) declared its Jawahar Dweep Marine Oil Terminal plastic-free, marking an important step towards more sustainable port operations
• Odisha Chief Minister Mohan Charan Majhi announced a cash reward of ₹11 lakh each for the players of the Indian women’s hockey team for winning the gold medal at the 2026 Asian Games
• Prime Minister Narendra Modi’s monthly radio programme, ‘Mann Ki Baat’, completed 12 years, marking more than a decade of connecting with citizens across India
• Tata Projects, an India-based technology-driven Engineering, Procurement and Construction (EPC) company, and MDS Aero Support Corporation (MDS), a global specialist in gas turbine engine testing solutions, have entered into a strategic partnership through a Memorandum of Understanding
• The Indian Council of Agricultural Research (ICAR) and the Food Corporation of India (FCI) signed a Memorandum of Understanding (MoU) to conduct research on alternative fumigation technologies for the safe and sustainable management of storage pests in wheat and rice
• Coal India Limited (CIL) and Hindustan Urvarak & Rasayan Limited (HURL) signed a non-binding Memorandum of Understanding (MoU) to explore the development of a coal gasification-based urea production facility at Sindri, Jharkhand
• The International Day of Non-Violence is observed every year on 2 October to commemorate the birth anniversary of Mahatma Gandhi (Mohandas Karamchand Gandhi), a prominent advocate of non-violent resistance during India’s freedom struggle
• Gandhi Jayanti is observed every year on 2 October to commemorate the birth anniversary of Mahatma Gandhi (Mohandas Karamchand Gandhi), who was born on 2 October 1869
• The United Nations (UN) observes the International Day for the Total Elimination of nuclear weapons every year on 26 September to spread awareness about the dangers posed by nuclear weapons and encourage their complete elimination.
• NABKISAN Finance Limited, a subsidiary of National Bank for Agriculture and Rural Development (NABARD), listed India’s first Social Bond exclusively dedicated to the Water, Sanitation and Hygiene (WASH) sector on the National Stock Exchange (NSE), Mumbai on 1 October 2026.
• The Department of Economic Affairs (DEA) under the Ministry of Finance (MoF) kept the Small Savings Scheme (SSS) interest rates unchanged for Q3FY27, covering 1 October 2026 to 31 December 2026.
• Pramerica Life Insurance Limited launched Poorna Rakshak, a non-linked, non-participating individual savings life insurance plan.
• The Ministry of Finance (MoF) revised the windfall tax/export levy on diesel and Aviation Turbine Fuel (ATF), with the revised rates effective from 1 October 2026.
• APEDA (Agricultural and Processed Food Products Export Development Authority) facilitated the flag-off of a 24 MT consignment of frozen food products from Sonipat, Haryana to Canada on 1 October 2026.
• APEDA (Agricultural and Processed Food Products Export Development Authority) facilitated the export of 1 metric tonne (MT) of popped (Phool) Makhana from Purnea, Bihar to Greece on 2 October 2026.
• HSBC Global Entrepreneurial Wealth Report 2026 surveyed more than 3,000 High Net Worth (HNW) and Ultra-High Net Worth (UHNW) entrepreneurs globally and highlighted the changing global outlook and Artificial Intelligence (AI) adoption among Indian entrepreneurs.
• Reserve Bank of India (RBI) appointed Shri Sudhakar Malli as Executive Director (ED) with effect from 1 October 2026.
• ICICI Prudential Life Insurance Company Limited appointed Sidharatha Mishra as Additional Director, Managing Director (MD) and Chief Executive Officer (CEO) for a five-year term, subject to the required regulatory approvals.
• Fatima Ezzahra El Mansouri, a senior leader of the Authenticity and Modernity Party (PAM), was appointed Prime Minister/Head of Government of Morocco by King Mohammed VI following the 23 September 2026 parliamentary elections.
• The Competition Commission of India (CCI) approved BNP Paribas Cardif’s acquisition of a 26% stake in IndiaFirst Life Insurance Company Limited.
• Dhamra Port in Odisha, operated by Adani Ports and Special Economic Zone (APSEZ), has shifted its entire electricity consumption to renewable power with effect from August 2026.