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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Inter-Ministerial Group Proposes Monetisation of Surplus Central Public Sector Enterprises Assets Worth Over ₹1,100 Crore for Alternative Mechanism Approval

The Inter-Ministerial Group (IMG) recommended asset monetisation proposals involving assets valued at over ₹1,100 crore for consideration and approval by the Alternative Mechanism (AM).

The IMG is chaired by the Secretary, Department of Public Enterprises (DPE) and co-chaired by the Secretary, Department of Telecommunications (DoT).

The proposals primarily involve the monetisation of surplus land and building assets belonging to Central Public Sector Enterprises (CPSEs).

The recommendations aim to unlock the economic value of surplus and underutilised public assets and facilitate their productive utilisation.

The Government's Asset Monetisation Programme aims to help CPSEs and other Government entities realise the economic potential of surplus assets through systematic assessment, professional transaction preparation and competitive price discovery.

The recommended proposals will be submitted to the Cabinet-delegated Alternative Mechanism (AM) for consideration and approval.

After receiving the necessary approvals, further monetisation activities will be carried out according to prescribed procedures.

The National Land Monetization Corporation (NLMC) plays a key role in facilitating the monetisation of surplus land and other non-core assets of CPSEs and Government entities.

NLMC supports asset assessment, due diligence, valuation, transaction structuring and market-facing monetisation processes in coordination with concerned Ministries, Departments and asset-owning entities.

About NLMC :

NLMC (National Land Monetization Corporation) is a wholly owned Government of India company under the administrative control of the Department of Public Enterprises (DPE), Ministry of Finance.

NLMC was established following the announcement made in the Union Budget 2021–22.

The initiative aims to promote efficient public asset management, transparent and value-maximising monetisation, investment and economic development.

Reserve Bank of India Raises Interest Rate on Floating Rate Bond 2034 from 6.45% to 7.26%

The Reserve Bank of India (RBI) increased the annual interest rate on Government of India Floating Rate Bond 2034 (FRB 2034) from 6.45% to 7.26%, an increase of 0.81 percentage points (81 basis points).

The revised interest rate is applicable for the six-month period from 30 October 2026 to 29 April 2027.

FRB 2034 was launched in January 2022 and offers investors a variable interest rate that is revised every six months.

The bond's interest rate is calculated using the average Weighted Average Yield (WAY) of the last three auctions of 182-day Treasury Bills, along with a fixed spread of 0.98 percentage points.

The previous interest rate of 6.45% was applicable from 30 April 2026 to 29 October 2026.

The bond pays interest every six months, and the revised coupon will be reviewed again after 29 April 2027 based on the prevailing interest rate formula.

For every ₹1 lakh invested at face value, the approximate six-month interest increases from ₹3,225 to ₹3,630, providing an additional ₹405 before tax.

For investments of ₹5 lakh and ₹10 lakh, the additional six-month interest will be approximately ₹2,025 and ₹4,050, respectively, before tax.

The actual interest payout depends on the investment amount, purchase price and holding period.

Interest earned on FRB 2034 is taxable according to the investor's applicable income tax slab.

FRB 2034 is a Government of India security, with its principal and interest payments backed by the Government of India.

Retail investors can purchase eligible government securities through the RBI's Retail Direct platform by opening a Retail Direct Gilt (RDG) account.

Existing government securities can also be purchased through the Negotiated Dealing System–Order Matching (NDS-OM) secondary market platform.

Unlike fixed-rate government bonds, the interest rate on floating rate bonds changes periodically according to market-linked interest rate benchmarks.

When 182-day Treasury Bill yields increase, the coupon rate of FRB 2034 may rise at the next reset; when yields decline, the coupon rate may also decrease.

Employees’ Provident Fund Organisation Launches Verified WhatsApp Service for Easy Access to PF Balance, Transactions and Passbooks

Union Labour and Employment Minister Mansukh Mandaviya launched new digital and user-friendly services for subscribers of the Employees’ Provident Fund Organisation (EPFO) to improve accessibility and simplify routine services.

EPFO introduced a verified WhatsApp service through which subscribers can access their PF balance, latest transactions and passbook details.

The WhatsApp service will also provide personalised guidance and assistance on the Employment Linked Incentive (ELI) Scheme under the Pradhan Mantri Viksit Bharat Rozgar Yojana (PMVBRY).

EPFO also launched automatic settlement of inoperative EPF accounts having balances of up to ₹1,000, subject to Aadhaar and bank-account verification.

Under this facility, eligible subscribers with Aadhaar-verified inoperative EPF accounts will not be required to submit individual claims to receive their outstanding balances.

The automatic settlement facility is expected to benefit around 1 lakh accounts, involving approximately ₹5 crore.

EPFO manages a retirement corpus of nearly ₹32 lakh crore and has over 34 crore total members, including more than 8 crore active subscribers.

These initiatives aim to reduce physical visits to EPFO offices, improve service delivery and make routine provident fund services more accessible through digital platforms.

Securities and Exchange Board of India Partners with Digital India BHASHINI Division to Enhance Access to Services in Regional Indian Languages

The Securities and Exchange Board of India (SEBI) signed a Memorandum of Understanding (MoU) with the Digital India BHASHINI (Bhasha Interface for India) Division (DIBD) to improve access to investor education, financial information and SEBI services in regional Indian languages.

The BHASHINI (Bhasha Interface for India) initiative functions under the Digital India Corporation (DIC), which operates under the Ministry of Electronics and Information Technology (MeitY).

The MoU was signed by Sandip Pradhan, Whole-Time Member of SEBI, and Amitabh Nag, Chief Executive Officer (CEO) of DIBD, in the presence of senior officials from both organisations.

Under the MoU, SEBI will use BHASHINI's language translation Application Programming Interfaces (APIs), language models and tools to make its services available in regional Indian languages.

The collaboration will use Automatic Speech Recognition (ASR), Text-to-Speech (TTS), Machine Translation and Optical Character Recognition (OCR) to support speech conversion, language translation and text extraction.

The partnership will enhance BHASHINI's language models by incorporating securities market-related terminology, improving the accuracy and relevance of financial and regulatory translations.

The Digital India BHASHINI Division (DIBD) is an independent division functioning under the Digital India Corporation (DIC), a Section 8 not-for-profit company established by MeitY.

About SEBI :

Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992

Headquarters : Mumbai, Maharashtra

Chairman : Tuhin Kanta Pandey

SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

 

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi Inaugurates and Lays Foundation Stone for Pune Metro Projects Worth ₹21,800 Crore

Prime Minister Narendra Modi inaugurated and laid the foundation stone for Pune Metro projects worth approximately ₹21,800 crore through video conferencing.

Recalling that he laid the foundation stone for the first phase of Pune Metro 10 years ago, the Prime Minister stated that the inauguration of the Hinjawadi–Shivajinagar Metro corridor would improve connectivity to a major Information Technology (IT) hub.

Key Highlights

The new Metro line launched on the occasion will further connect the old and new parts of Pune.

Highlighting India's Metro expansion over the past 12 years, the Prime Minister stated that:

India's Metro network has expanded to nearly 1,200 kilometres across 26 cities.

It serves more than 1 crore daily commuters.

India now has one of the top three Metro networks in the world.

Referring to Maharashtra's Metro development since 2014, he stated that:

The State had only around 10–11 kilometres of operational Metro lines in 2014.

Nearly 175 kilometres are now operational.

Construction is underway on more than 680 kilometres of Metro lines.

The ongoing construction involves an investment exceeding ₹2.5 lakh crore.

He highlighted that Metro investments generate employment for labourers, engineers and workers in shops and factories.

The Prime Minister highlighted that the newly inaugurated Metro corridor was developed under the Public-Private Partnership (PPP) model, through cooperation between the government and the private sector.

The Prime Minister highlighted two major achievements of India:

Maintaining the position of the world's fastest-growing economy amid challenging international conditions.

Lifting 50 crore people out of extreme poverty within 10–12 years, as stated with reference to the latest World Bank report.

Recalling his completion of 25 years as the head of a government in the previous month, the Prime Minister referred to his experience as Chief Minister of Gujarat, when he introduced Garib Kalyan Melas to improve welfare scheme delivery.

Concluding his address, the Prime Minister extended his best wishes for the Pune Metro projects and emphasised that “Sabka Prayas” (collective effort) is essential for achieving Viksit Bharat and accelerating the country's development.

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

Ministry of Skill Development Partners with Assam to Upgrade ITI Clusters and Establish Skill India International Centre

MSDE's Guwahati Programme Advances PM | DD NewsThe Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, organised a programme on ‘Skilling for International Mobility & PM-SETU’ in Guwahati, Assam, to strengthen the region's vocational education and training ecosystem and expand international employment opportunities for its youth.

Key Highlights

During the programme, MSDE announced strategic partnerships with the Government of Assam for establishing a Skill India International Centre (SIIC) and signed Letters of Intent (LoIs) for two Industrial Training Institute (ITI) clusters at Jorhat and Tinsukia under the Pradhan Mantri Skilling and Employability Transformation through Upgraded ITIs (PM-SETU) Scheme.

The LoIs for the two ITI clusters were supported by:

Jorhat ITI cluster – Numaligarh Refinery Limited (NRL).

Tinsukia ITI cluster – Oil India Limited (OIL).

A Memorandum of Understanding (MoU) between MSDE and the Government of Assam was exchanged for establishing the Skill India International Centre (SIIC). These partnerships aim to strengthen industry participation and promote industry-led transformation of the vocational education and training ecosystem in the North-Eastern Region.

Jayant Chaudhary, Minister of State (Independent Charge) for Skill Development and Entrepreneurship and Minister of State for Education, Government of India, delivered the keynote address. He emphasised the need to align India's skilling system with changing industry requirements and the global economy.

Biswajit Daimary, Assam Minister for Skills, Employment and Entrepreneurship; Sports and Youth Welfare; Handloom, Textile and Sericulture; and Indigenous and Tribal Faith and Culture, highlighted the importance of industry-relevant skills and creating employment opportunities for Assam's youth within India and internationally.

The programme included a dedicated session on PM-SETU, focusing on industry-responsive transformation of ITIs and opportunities to strengthen the skilling ecosystem in the North-Eastern Region.

The discussions also covered international mobility and WorldSkills as avenues for expanding employment and skill-development opportunities for young people from the region.

The Government of Assam presented its CM FLIGHT Scheme and vision for establishing a Global Skill Centre, highlighting the State's efforts to strengthen skill development and connect its workforce with emerging domestic and international opportunities.

About Assam:

Chief Minister: Himanta Biswa Sharma

Governor: Lakshman Prasad Acharya

Capital: Dispur

National Parks: Kaziranga, Manas, Nameri, Orang, Dibru-Saikhowa, Dihing Patkai, Raimona National Parks

Wildlife Sanctuaries: Pobitora, Hollongapar Gibbon, Chakrasila, Sonai Rupai, Amchang Wildlife Sanctuaries

Government Notifies Bharatiya Vayuyan Niyam, 2026 to Replace Aircraft Rules, 1937

The Government of India has notified the Bharatiya Vayuyan Niyam, 2026, replacing the nearly nine-decade-old Aircraft Rules, 1937.

Government has notified a new set of rules governing India's civil aviation  sector, replacing the nearly nine-decade-old Aircraft Rules, 1937. ▪️The  new rules, called the Bharatiya Vayuyan Niyam, 202The new rules will come into effect on 1 January 2027.

The rules establish the regulatory framework for various aspects of India's civil aviation sector, including aircraft registration, manufacturing, safety certification, maintenance, flight operations, personnel licensing and airport operations.

Key Highlights

Under the new framework, airlines operating scheduled air services must determine airfares based on factors such as operating costs and submit their tariff details to the Directorate General of Civil Aviation (DGCA).

The rules empower the Central Government to issue written directions to airlines if it determines that an extraordinary situation has arisen and intervention is necessary in the public interest.

The new framework also mandates greater transparency in airfare pricing. Airlines must publish their fares on their official websites and other digital platforms.

The DGCA will continue to monitor the tariffs fixed by scheduled airlines.

Aircraft registration and certification are among the key areas covered by the new rules, which provide regulatory provisions for aircraft operating in India's civil aviation sector.

Union Government to Establish Centre of Excellence for Indigenous Siri Cattle Conservation and Development in Sikkim

Union Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh (Lalan Singh) announced that the Department of Animal Husbandry and Dairying (DAHD), Government of India, will establish a Centre of Excellence for the conservation and development of the indigenous Siri cattle breed in Sikkim.

With the aim of supporting the conservation, development and scientific  improvement of indigenous Siri cattle found in the region, Union Minister  for Fisheries, Animal Husbandry and Dairying Rajiv RanDuring his two-day visit to Sikkim on 2–3 November 2026, the Minister reviewed the progress of various DAHD initiatives and development programmes in the State and the North Eastern Region (NER).

The visit focused on strengthening dairy development, promoting indigenous livestock breeds, improving livestock productivity, expanding dairy cooperatives and enhancing livelihood opportunities for farmers and livestock rearers.

Key Highlights

The Minister digitally launched the North District Cooperative Milk Producers’ Union Ltd (NDMU) at Mangan under White Revolution 2.0. The initiative aims to strengthen the dairy cooperative network, expand organised dairy activities in North Sikkim, increase dairy farmers’ participation in cooperatives and improve institutional support for dairy development.

The Minister directed the preparation of a comprehensive Action Plan for Siri cattle conservation and development, focusing on breed improvement, genetic conservation and scientific breeding. He also emphasised preparing a Work Plan for introducing In Vitro Fertilisation (IVF) technology to accelerate genetic improvement and facilitate the multiplication of superior germplasm.

He digitally launched the Siri Cattle Conservation Programme to conserve and promote the indigenous Siri cattle breed, preserve valuable genetic resources and strengthen scientific breeding practices.

He digitally laid the foundation stone for the Siri Bull Mother Farm at Chuchachen in Pakyong district. The proposed facility will support Siri breed conservation, genetic improvement, scientific breeding and the multiplication of quality germplasm.

The Minister announced that the Department of Animal Husbandry and Dairying will establish a Centre of Excellence for the conservation and development of the indigenous Siri cattle breed in Sikkim.

He launched the publication titled “Minimum Standard Protocol for Semen Production and Standard Operating Procedures for Artificial Insemination Using Liquid Semen in Pigs”. It establishes a standardised framework for semen production and artificial insemination using liquid semen in pigs.

The Minister advised the National Dairy Development Board (NDDB) to prepare a comprehensive plan for the modernisation of the dairy plant, expansion of the dairy cooperative network and development of an integrated “Sikkim Milk” brand to promote sustainable growth of the State’s dairy sector. The advice followed the inclusion of the North District Cooperative Milk Producers’ Union Ltd under White Revolution 2.0.

On 2 November 2026, the Minister visited Tingda Government Primary School, interacted with students and encouraged them to pursue education and learning. He also visited the Ramthang Primary Health Sub-Centre (PHSC) and Wellness Centre to review the available healthcare facilities.

About Sikkim:

Chief Minister: Prem Singh Tamang (P. S. Golay)

Governor: Dushyant Gautam

Capital: Gangtok

National Parks: Khangchendzonga National Park

Wildlife Sanctuaries: Barsey Rhododendron Wildlife Sanctuary, Fambong Lho Wildlife Sanctuary, Kitam Bird Sanctuary, Kyongnosla Alpine Wildlife Sanctuary, Pangolakha Wildlife Sanctuary

Supreme Court Rules 24-Hour Deadline for Producing Arrested Persons Before Magistrate Begins from Actual Detention

The Supreme Court of India has ruled that the 24-hour constitutional deadline for producing an arrested person before a Magistrate begins from the time of actual detention, when the person’s liberty is curtailed, and not from the time the police formally record the arrest.

The judgment was delivered on appeals filed by four persons challenging a Tripura High Court decision that had denied them bail in a case registered under the Narcotic Drugs and Psychotropic Substances (NDPS) Act.

Key Highlights

A Bench comprising Justice Ujjal Bhuyan and Justice Atul S. Chandurkar held that the 24-hour period prescribed under Article 22(2) of the Constitution of India must be calculated from the date and time of a person’s actual detention.

The Court clarified that the police cannot calculate the 24-hour period only from the time when the investigating agency formally records the arrest. The constitutional deadline begins when the person is actually taken into custody and their liberty is restricted.

The Bench rejected the distinction between detention and formal arrest for calculating the constitutional deadline. It observed that treating the 24-hour period as commencing only after the completion of search and seizure and from the time of formal arrest was legally unsustainable and unconstitutional.

The Court further held that detention beyond 24 hours without the authority of a Magistrate is impermissible.

It clarified that if a person continues to be detained for more than 24 hours without being produced before a Magistrate, the person must be released forthwith.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Agricultural and Processed Food Products Export Development Authority Enables Export of 1.3 metric tonnes of Kullu’s Sinduri Pomegranates to Dubai

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, facilitated the export of 1.3 metric tonnes (MT) of Sinduri variety pomegranates from Kullu district, Himachal Pradesh, to Dubai, United Arab Emirates (UAE).

The export consignment consisted of 650 boxes of 2 kg each and was exported by Uttar Pradesh-based Amama Exports.

The pomegranates were procured directly from local farmers and the Bhuntar Farmer Producer Organisation (FPO), which is associated with approximately 600 farmers.

The Kullu District Horticulture Department supported the initiative by facilitating procurement and coordination among farmers, the FPO and the exporter.

The consignment was officially flagged off by APEDA Chairman Abhishek Dev.

The export initiative enabled participating farmers to achieve 50% higher price realisation compared with the prevailing domestic market benchmark.

The Sinduri variety is known for its attractive red skin, juicy arils and sweet-tart flavour and is suitable for fresh consumption and export markets.

The initiative aims to diversify Himachal Pradesh's agricultural exports beyond apples and promote products such as pomegranates, persimmons, stone fruits, juices and ready-to-eat products.

During FY 2025-26, India exported APEDA-scheduled agricultural and processed food products worth approximately USD 2.59 billion, with a total volume of around 3.81 million MT, to the UAE.

The initiative highlights the role of FPOs, direct farmer procurement and government support in strengthening agricultural export linkages and expanding international market opportunities for Indian farmers.

APEDA continues to support Indian farmers, FPOs and exporters in accessing international markets and expanding the global reach of India's agricultural and processed food products.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Equitas Small Finance Bank Names Balaji Nuthalapadi as Interim Chief Executive Officer, Pending Reserve Bank of India Approval

Equitas Small Finance Bank (SFB) appointed Balaji Nuthalapadi, its Whole-Time Director and Executive Director (ED), as the Interim Chief Executive Officer (CEO).

The appointment was recommended by the Nomination and Remuneration Committee and approved by the Board of Directors, subject to approval from the Reserve Bank of India (RBI).

The appointment follows the resignation of P. N. Vasudevan as Managing Director (MD) and CEO on 29 October 2026.

Balaji Nuthalapadi has over 28 years of experience in banking operations, technology and financial services.

He began his banking career with Citibank in Chennai, Tamil Nadu, in 1997.

Before joining Equitas SFB, he served as Managing Director and Head of India Citi Solutions Centers, as well as Head of India Operations and Technology at Citibank.

He played a key role in expanding and scaling Citi's global capability hubs in India.

He joined Equitas SFB in March 2025 and has been serving as Executive Director – Technology and Operations.

At Equitas SFB, he oversees key technology and operational functions, including digital capability enhancement, technology upgrades and operational efficiency.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Air Force Chief Ashutosh Dixit Unveils ‘VAYU’ Vision to Enhance Operational Readiness and Self-Reliance

Air Chief Marshal Ashutosh Dixit, the 29th Chief of the Air Staff (CAS) of the Indian Air Force (IAF), unveiled ‘VAYU’ as the guiding vision of the IAF.

The VAYU Vision aims to strengthen operational preparedness, accelerate indigenous capabilities and establish a technologically advanced, self-reliant and seamlessly integrated Indian Air Force.

V – Vigilance, Victory and Readiness: Focuses on maintaining the highest level of operational preparedness across all IAF formations and restoring combat strength to sanctioned levels.

A – Aatmanirbharta (Self-reliance): Focuses on accelerating indigenous capabilities in platforms, sensors, weapons and technologies to ensure operational self-reliance and sustained combat capability.

Y – Yukti (Ingenuity): Emphasises innovation in military doctrine, technology and operational procedures, including AI-enabled command and control, counter-drone capabilities, resilience and emerging operational domains.

U – Unity of Effort: Aims to strengthen jointness and coordination with the Indian Army (IA), Indian Navy (IN) and national agencies, in line with Jointness, Aatmanirbharta and Innovation (JAI).

On 2 November 2026, the IAF Educational and Cultural Society partnered with the Information Sharing and Analysis Center (ISAC) Foundation to implement the ScrollControl Programme.

ScrollControl is a Child Digital Safety Programme aimed at promoting digital safety among schoolchildren.

The programme will be implemented across 42 Air Force Schools in India.

Defence Research and Development Organisation Successfully Conducts Test-Firing of Indigenous Pralay Quasi-Ballistic Missile off Odisha Coast

The Defence Research and Development Organisation (DRDO) successfully test-fired the indigenous Pralay surface-to-surface quasi-ballistic missile on 3 November 2026 at the Integrated Test Range (ITR), Chandipur, Odisha.

The missile was launched from Launch Complex-3 and successfully engaged two simulated targets located approximately 500 km away.

Pralay is an indigenously developed surface-to-surface quasi-ballistic missile designed to strike targets with high precision.

The missile has an operational range of 150–500 km and can carry payloads weighing 350–1,000 kg.

Pralay can achieve speeds of up to Mach 5 (approximately 6,174 km/h) and follows a quasi-ballistic trajectory with in-flight manoeuvrability, including during the terminal phase.

Its in-flight manoeuvrability makes interception by enemy air defence systems more challenging.

The missile is powered by a solid-propellant rocket motor, enabling prolonged ready-to-launch storage and rapid deployment.

Pralay can carry multiple types of warheads, allowing it to engage different types of targets.

The missile uses modern guidance and navigation systems to improve targeting accuracy.

Pralay can be launched from road-mobile platforms, providing operational flexibility to the Indian Armed Forces.

Before the test, more than 2,500 people from nearby villages were evacuated to temporary shelters as a safety precaution.

In July 2025, DRDO successfully conducted two consecutive flight tests of Pralay to validate its maximum and minimum range capabilities, and both tests achieved their planned objectives.

In December 2025, DRDO successfully test-fired two Pralay missiles consecutively from the same launcher during user evaluation trials.

About DRDO:

Founded: 1958

Headquarters: New Delhi, India

Parent Ministry: Ministry of Defence, Government of India

Chairman: Rajesh Kumar Singh

India Sets 2029 Targets of ₹3 Lakh Crore in Defence Production and ₹50,000 Crore in Defence Exports

Defence Minister Rajnath Singh announced that India aims to achieve defence production worth ₹3 lakh crore and defence exports worth ₹50,000 crore by 2029.

The announcement was made during the Ministry of Defence's Consultative Committee meeting held in Jaisalmer, Rajasthan, on 3 November 2026.

India's defence production increased from ₹46,429 crore in 2014–15 to a record ₹1.78 lakh crore in 2025–26.

India's defence exports increased from less than ₹2,000 crore in 2014 to approximately ₹40,000 crore.

The Defence Budget for 2026–27 stands at a record ₹7.85 lakh crore, including a capital outlay of ₹2.19 lakh crore for modernisation and capital procurement.

The government is focusing on strategic autonomy, indigenous technological capabilities and reducing dependence on foreign defence suppliers to strengthen national security.

The meeting discussed emerging security challenges, changing warfare practices and the induction of next-generation platforms, weapons and technologies.

Strengthening coordination among the three Services, joint operational planning and multi-domain operational capabilities were identified as key priorities.

The meeting highlighted the role of Artificial Intelligence (AI), autonomous systems, unmanned platforms, cyber and space capabilities, electronic warfare and advanced communications in preparing the Indian military for future conflicts.

Defence Research and Development Organisation (DRDO) is working on the development of advanced weapons, missiles and defence systems.

The government is encouraging greater private-sector participation, ranging from Micro, Small and Medium Enterprises (MSMEs) to large corporations, in the defence sector.

Rajnath Singh emphasised a “Whole-of-the-Nation” approach to strengthen India's defence capabilities and achieve self-reliance in defence manufacturing.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Clears Kotak Mahindra Bank's Proposed Takeover of Deutsche Bank's Retail Banking and Wealth Management Businesses in India

The Competition Commission of India (CCI) approved Kotak Mahindra Bank Limited (KMBL)'s proposed acquisition of the retail banking, private banking and wealth management businesses of Germany-based Deutsche Bank AG in India.

The transaction will be undertaken on a going concern basis through a slump sale, involving the transfer of the identified business undertaking rather than individual assets.

The acquisition covers deposits, loans, investments, insurance and foreign exchange services, along with wealth management services primarily catering to High-Net-Worth Individuals (HNIs).

The acquired businesses are operated by Deutsche Bank AG through its Indian branches.

The proposed transaction includes approximately ₹29,000 crore in loans, ₹16,000 crore in deposits and ₹10,500 crore in assets under management (AUM).

Kotak Mahindra Bank and Deutsche Bank will establish referral arrangements through their affiliates for customers of the investment advisory and portfolio management services businesses of Deutsche Investments India Private Limited (DIIPL).

DIIPL is an indirect wholly owned subsidiary of Deutsche Bank AG.

Under the referral arrangement, customers of DIIPL's investment advisory and portfolio management services will be referred to relevant wholly owned subsidiaries of Kotak Mahindra Bank.

In June 2026, Kotak Mahindra Bank and Deutsche Bank AG entered into a definitive agreement for the proposed acquisition.

Kotak Mahindra Group was established in 1985 and is a diversified financial services conglomerate.

As of 31 March 2026, Kotak Mahindra Group had total assets of ₹10,03,353 crore.

Deutsche Bank AG is a leading bank headquartered in Germany, with a significant presence in Europe, the Americas and Asia-Pacific.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IZI Enterprise Wins Defence Research and Development Organisation Contract to Supply Indigenous VANA Multi-Mission Drone Platform

IZI Enterprise, a deep-tech drone company, secured an order from the Proof & Experimental Establishment (PXE) of the Defence Research and Development Organisation (DRDO) for the supply and deployment of its indigenous IZI VANA Surveillance Drone Platform.

The IZI VANA Surveillance Drone supports aerial photogrammetry, precision mapping, terrain data collection, surveillance, aerial observation, and optical and thermal imaging for DRDO evaluation.

The platform enables real-time transmission of aerial video and mission data, precision navigation, autonomous waypoint-based missions, and flight and sensor-data logging for post-mission analysis.

The drone is designed to operate in demanding environmental conditions, making it suitable for specialised surveillance and mapping operations.

Its configuration includes high-resolution imaging, Red-Green-Blue (RGB) sensors, and Electro-Optical/Infrared (EO/IR) sensors.

The platform uses a Global Navigation Satellite System (GNSS) and a Ground Control Station (GCS) to support automated mission planning, geofencing, and autonomous waypoint navigation.

IZI Enterprise will provide two Directorate General of Civil Aviation (DGCA)-certified pilots for the first year to support flight operations and train personnel.

The IZI VANA is classified as an Aerial Photogrammetry Platform (Drones) of Indian origin.

About IZI Enterprise :

Founded : 2013

Headquarters : Bhopal, Madhya Pradesh (MP).

Founder : Ishan Haydn

ARCI Scientists Develop Advanced Nanocomposite Coatings to Enhance Cutting Tool Life in Superalloy Machining

Scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad, developed and evaluated two nanocomposite protective coatings to improve the durability and tool life of cutting tools used for machining nickel-based superalloys.

ARCI is an autonomous Research and Development (R&D) centre under the Department of Science and Technology (DST), Government of India.

The two protective coatings developed are Titanium Aluminium Silicon Nitride (TiAlSiN) and Chromium Aluminium Silicon Nitride (CrAlSiN).

The coatings were deposited on tungsten carbide cutting tools using Cathodic-Arc Physical Vapour Deposition (PVD) technology.

The study evaluated the performance of coated cutting tools while machining three nickel-based superalloys: Inconel 718 (IN718), IN625 and IN617.

The TiAlSiN coating increased cutting-tool life by approximately 80% for IN718 and 60% for IN625, compared with uncoated tools.

The CrAlSiN coating increased cutting-tool life by more than 200% for IN617, demonstrating superior performance for this particular alloy.

The research established that no single protective coating performs best for every superalloy, as coating performance depends on the chemical composition of the alloy and its interaction with the coating.

The major causes of cutting-tool failure were chipping and progressive wear, with abrasion, adhesion and attrition contributing to the overall wear process.

Repeated adhesion of workpiece material to the cutting-tool surface causes damage when the attached material breaks away, removing tiny fragments from the tool.

The protective coatings help delay tool damage and reduce wear, thereby extending cutting-tool life.

The researchers also observed shear bands and serrated or saw-tooth patterns in metal chips generated during machining, indicating intense thermo-mechanical conditions.

The findings can help improve manufacturing efficiency, reduce machine downtime and production costs, and increase productivity in the aerospace, energy and petrochemical sectors.

The research was conducted at ARCI's Centre for Engineered Coatings and published in the scientific journal Materials Today Communications.

The study highlights an application-specific coating selection approach, in which protective coatings are selected according to the composition and behaviour of the particular superalloy being machined.

CURRENT AFFAIRS : SUMMITS & CONFERENCES

First International Maize Conference 2026 Emphasises Productivity, Advanced Breeding and Farmer-Focused Research

The 1st International Maize Conference 2026 commenced on 2 November 2026 at the JD Convention Centre, Hyderabad, Telangana, and was held from 2–4 November 2026.

The conference was organised under the theme “Maize Revolution for Food, Feed, Fodder, Fuel and Sustainability in the Changing World” (M4FS).

The conference brought together scientists, policymakers, agricultural institutions and industry stakeholders to discuss strategies for improving maize research, productivity and value-chain development.

The major focus areas included high-yielding maize varieties and hybrids, improved nutritional quality, mechanisation, efficient resource utilisation and stronger seed systems.

ICAR Deputy Director General (Crop Science) Dr. D. K. Yadav highlighted the development of 329 maize hybrids over the previous five years.

Dr. D. K. Yadav emphasised strengthening the All India Coordinated Research Project on Maize (AICRP on Maize) and promoting research collaboration to improve maize yields and ethanol production.

The conference highlighted the importance of maize in food security, animal feed, fodder and renewable energy production.

Several scientific publications were released, and awards were presented to eminent scientists and researchers for their contributions to maize research and development.

The conference emphasised farmer-centric research, improved seed access, stronger breeding programmes, reduced yield gaps and sustainable maize value chains.

The conference aimed to develop a roadmap for a productive, profitable and sustainable maize sector in India.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Ministry of Panchayati Raj Partners with Convergence Energy Services Limited to Establish Electric Vehicle Charging and Battery Swapping Stations on Panchayat Land

The Ministry of Panchayati Raj signed a Memorandum of Understanding (MoU) with Convergence Energy Services Limited (CESL), a wholly owned subsidiary of Energy Efficiency Services Limited (EESL) under the Ministry of Power, to establish electric vehicle (EV) charging and battery swapping stations on Panchayat land across India.

The MoU was signed in Delhi in the presence of Dr. Vineet Joshi, Union Minister of Panchayati Raj and Fisheries, Animal Husbandry and Dairying. The agreement was exchanged by Mukta Shekhar, Joint Secretary, Ministry of Panchayati Raj, and Akhilesh Kumar Dixit, Director, CESL.

Key Highlights

The partnership brings together rural local governance, green mobility and sustainable revenue generation.

It aims to create additional opportunities for Own Source Revenue (OSR) generation for Gram, Block and District Panchayats across States and Union Territories.

The initiative seeks to extend clean mobility infrastructure beyond urban areas by identifying suitable locations along State and National Highways and within Panchayat premises. The proposed facilities will cater to two-wheelers, three-wheelers, four-wheelers and medium- to heavy-duty vehicles.

CESL will undertake site assessments, demand aggregation, supply, installation, testing, commissioning, operation and maintenance of the charging and battery swapping stations.

The initiative aligns with the Ministry’s efforts to strengthen Panchayats through increased OSR generation, including the recently introduced Model Panchayat Tax, Rates and Fees Rules (Model OSR Rules). The framework seeks to promote transparent, accountable and locally driven revenue mobilisation.

Under the initiative, Panchayat land will be utilised as a productive community asset to generate recurring income for civic services, infrastructure development and community welfare.

The collaboration is also expected to improve access to electric vehicle services in rural areas and help reduce carbon emissions.

Through this partnership, the Ministry of Panchayati Raj and CESL will explore ways to use public assets at the Panchayat level to expand electric mobility infrastructure and support clean and green villages, sustainable local development and financially stronger Panchayats.

Ministry of Road Transport and Highways Signs MoU with Bihar to Use Excavated River Silt in National Highway Construction

The Ministry of Road Transport and Highways (MoRTH) and the Bihar Government signed a Memorandum of Understanding (MoU) to use excavated river silt in the construction of National Highways across Bihar under the Nadi Sanjeevani initiative.

The agreement was witnessed by Union Minister for Road Transport and Highways Nitin Gadkari and Bihar Chief Minister Samrat Choudhary in New Delhi.

Key Highlights

The Nadi Sanjeevani initiative aims to combine the scientific desilting of rivers and other water bodies with the productive utilisation of excavated material for infrastructure development.

It seeks to address silt accumulation in water bodies while ensuring the availability of construction material for highway projects.

According to the National Highways Authority of India (NHAI), approximately 243 lakh cubic metres of silt will be required for ongoing and proposed National Highway projects in Bihar.

Under the agreement, the same quantity of excavated silt will be supplied free of cost for 16 ongoing National Highway projects in the State.

The initiative aims to reduce dependence on agricultural soil for infrastructure construction and provide an alternative source of material for road development. Agricultural soil can thereby be conserved for farming activities.

Bihar has become the first state in India to introduce a comprehensive silt management policy, known as the Bihar Water Resource Restoration and Silt Management Policy, 2026. The policy provides a framework for managing silt accumulation and integrating sediment removal with water resource restoration activities.

The MoU with MoRTH forms part of this broader policy approach by linking the State's water management objectives with its infrastructure requirements. The identified demand of 243 lakh cubic metres of silt for 16 ongoing highway projects provides a substantial utilisation opportunity for material generated through desilting operations.

The agreement establishes coordination between the Bihar Government and central infrastructure agencies to connect desilting activities, excavated-material supply and the construction requirements of National Highway projects.

The implementation of the MoU across the 16 identified projects will involve coordinating desilting operations, material supply and project-level construction requirements to ensure the excavated silt is suitable for its intended use.

Through the Nadi Sanjeevani initiative and the Bihar Water Resource Restoration and Silt Management Policy, 2026, Bihar aims to connect water body restoration with infrastructure development. The approach could also serve as a reference for other States exploring ways to manage accumulated silt and meet construction-material requirements for road projects.

NITI Aayog and TEXMiN Sign Joint Statement of Intent to Strengthen India’s Critical and Strategic Minerals Sector

NITI Aayog and TEXMiN (Technology Translation Research Park), an initiative of the Department of Science and Technology (DST) at Indian Institute of Technology (Indian School of Mines), Dhanbad, signed a Joint Statement of Intent (SoI) to strengthen collaboration in India's critical and strategic minerals sector.

The partnership aims to develop indigenous technological capabilities, promote research and innovation, and strengthen critical mineral value chains to make them more resilient and sustainable.

The initiative is aligned with the objectives of the National Critical Mineral Mission (NCMM) and the national visions of Aatmanirbhar Bharat and Viksit Bharat.

Key Highlights

Addressing the symposium, NITI Aayog Member Gobardhan Das highlighted the strategic importance of critical minerals in strengthening national security, technological self-reliance and India's vision of Viksit Bharat 2047.

The Joint Statement of Intent identifies four key areas of collaboration:

Collaborative research and technology development.

Technical and strategic studies.

Policy and institutional support.

Capacity building and knowledge exchange.

The partnership is expected to strengthen domestic technological capabilities, accelerate technology translation and improve coordination among government institutions, academia, research organisations and industry.

The symposium brought together policymakers, researchers, technology developers and industry representatives to discuss ways to strengthen India's critical minerals and rare earths ecosystem.

The collaboration is expected to support the development of resilient critical-mineral supply chains, reduce technological dependencies and advance India's self-reliance in strategic mineral resources.

CURRENT AFFAIRS: SPORTS NEWS

Cristiano Ronaldo Announces Retirement from International Football After 23-Year Career with Portugal

Cristiano Ronaldo announces retirement from Portugal after 23 years - Yahoo  SportsPortuguese football legend Cristiano Ronaldo announced his decision to retire from international football, bringing an end to his 23-year career with the Portugal national team.

The 41-year-old forward and five-time Ballon d’Or winner made the announcement through social media.

Ronaldo will step away from international football after completing Portugal’s November 2026 international fixtures. His international career began in 2003, when he first represented Portugal.

Key Highlights

His announcement applies only to international football. He has not announced his retirement from club football and continues to play for Saudi Arabian club Al-Nassr.

Disagreement with head coach Jorge Jesus: Ronaldo’s retirement announcement came amid reports of differences with Portugal’s head coach Jorge Jesus, who took charge of the national team in September 2026. The reported disagreement concerned Ronaldo’s role in the team and the amount of playing time he would receive.

During a Nations League match against Norway, Ronaldo was reportedly assured that he would play the final 30 minutes. Although he warmed up during the second half, he was not brought onto the field. The incident reportedly strained relations between the player and the coach.

Ronaldo subsequently left Portugal’s training camp ahead of the match against Denmark.

Disciplinary action: Following his departure from the training camp, the Portuguese Football Federation reportedly imposed a 30-day suspension and a fine of €255 on Ronaldo.

International career and records:

Made his international debut for Portugal in August 2003 against Kazakhstan.

Recorded 234 international appearances and scored 146 goals for Portugal.

Holds the world records for the most appearances and the most goals in men's international football.

Captained Portugal to its first-ever Union of European Football Associations (UEFA) European Championship title in 2016.

Helped Portugal win the UEFA Nations League titles in 2019 and 2025.

By scoring at the 2026 FIFA World Cup, became the first male footballer to score in six different editions of the FIFA World Cup.

Club football: Ronaldo continues to represent Al-Nassr, a Saudi Arabian football club, and remains focused on reaching the milestone of 1,000 career goals, according to the supplied report.

Daily CA One- Liner: November 6

Prime Minister Narendra Modi inaugurated and laid the foundation stone for Pune Metro projects worth approximately ₹21,800 crore through video conferencing

The Ministry of Skill Development and Entrepreneurship (MSDE), Government of India, organised a programme on ‘Skilling for International Mobility & PM-SETU’ in Guwahati, Assam, to strengthen the region's vocational education and training ecosystem and expand international employment opportunities for its youth

The Government of India has notified the Bharatiya Vayuyan Niyam, 2026, replacing the nearly nine-decade-old Aircraft Rules, 1937

Union Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh (Lalan Singh) announced that the Department of Animal Husbandry and Dairying (DAHD), Government of India, will establish a Centre of Excellence for the conservation and development of the indigenous Siri cattle breed in Sikkim

The Supreme Court of India has ruled that the 24-hour constitutional deadline for producing an arrested person before a Magistrate begins from the time of actual detention, when the person’s liberty is curtailed, and not from the time the police formally record the arrest

The Ministry of Panchayati Raj signed a Memorandum of Understanding (MoU) with Convergence Energy Services Limited (CESL), a wholly owned subsidiary of Energy Efficiency Services Limited (EESL) under the Ministry of Power, to establish electric vehicle (EV) charging and battery swapping stations on Panchayat land across India

The Ministry of Road Transport and Highways (MoRTH) and the Bihar Government signed a Memorandum of Understanding (MoU) to use excavated river silt in the construction of National Highways across Bihar under the Nadi Sanjeevani initiative

NITI Aayog and TEXMiN (Technology Translation Research Park), an initiative of the Department of Science and Technology (DST) at Indian Institute of Technology (Indian School of Mines), Dhanbad, signed a Joint Statement of Intent (SoI) to strengthen collaboration in India's critical and strategic minerals sector

Portuguese football legend Cristiano Ronaldo announced his decision to retire from international football, bringing an end to his 23-year career with the Portugal national team.

The Inter-Ministerial Group (IMG) recommended asset monetisation proposals involving assets valued at over ₹1,100 crore for consideration and approval by the Alternative Mechanism (AM).

The Reserve Bank of India (RBI) increased the annual interest rate on Government of India Floating Rate Bond 2034 (FRB 2034) from 6.45% to 7.26%, an increase of 0.81 percentage points (81 basis points).

Union Labour and Employment Minister Mansukh Mandaviya launched new digital and user-friendly services for subscribers of the Employees’ Provident Fund Organisation (EPFO) to improve accessibility and simplify routine services.

The Securities and Exchange Board of India (SEBI) signed a Memorandum of Understanding (MoU) with the Digital India BHASHINI (Bhasha Interface for India) Division (DIBD) to improve access to investor education, financial information and SEBI services in regional Indian languages.

The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Ministry of Commerce and Industry, facilitated the export of 1.3 metric tonnes (MT) of Sinduri variety pomegranates from Kullu district, Himachal Pradesh, to Dubai, United Arab Emirates (UAE).

Equitas Small Finance Bank (SFB) appointed Balaji Nuthalapadi, its Whole-Time Director and Executive Director (ED), as the Interim Chief Executive Officer (CEO).

Air Chief Marshal Ashutosh Dixit, the 29th Chief of the Air Staff (CAS) of the Indian Air Force (IAF), unveiled ‘VAYU’ as the guiding vision of the IAF.

The Defence Research and Development Organisation (DRDO) successfully test-fired the indigenous Pralay surface-to-surface quasi-ballistic missile on 3 November 2026 at the Integrated Test Range (ITR), Chandipur, Odisha.

Defence Minister Rajnath Singh announced that India aims to achieve defence production worth ₹3 lakh crore and defence exports worth ₹50,000 crore by 2029.

The Competition Commission of India (CCI) approved Kotak Mahindra Bank Limited (KMBL)'s proposed acquisition of the retail banking, private banking and wealth management businesses of Germany-based Deutsche Bank AG in India.

IZI Enterprise, a deep-tech drone company, secured an order from the Proof & Experimental Establishment (PXE) of the Defence Research and Development Organisation (DRDO) for the supply and deployment of its indigenous IZI VANA Surveillance Drone Platform.

Scientists from the International Advanced Research Centre for Powder Metallurgy and New Materials (ARCI), Hyderabad, developed and evaluated two nanocomposite protective coatings to improve the durability and tool life of cutting tools used for machining nickel-based superalloys.

The 1st International Maize Conference 2026 commenced on 2 November 2026 at the JD Convention Centre, Hyderabad, Telangana, and was held from 2–4 November 2026