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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Removes Paytm Payments Bank from Scheduled Banks List Following Licence Cancellation and Winding-Up Order

• The Reserve Bank of India (RBI) excluded Paytm Payments Bank Limited (PPBL) from the Second Schedule of the RBI Act, 1934, following the cancellation of its banking licence and the court-directed winding-up process.
• The RBI notification was dated 31 July 2026 and was published in the Gazette of India in September 2026; the exclusion was announced in an RBI statement on 7 October 2026.

Key Highlights :

• The Second Schedule of the RBI Act, 1934 contains the list of scheduled banks recognised under the Act, which receive certain operational privileges.
• The Delhi High Court ordered the winding up of PPBL through orders dated 8 July and 22 July 2026, under the Banking Regulation Act, 1949, read with the Companies Act, 2013.
• The court appointed Girikumar M. Nair, former State Bank of India (SBI) Chief General Manager, as the Official Liquidator to oversee the winding-up process.
• The RBI cancelled PPBL’s banking licence with effect from the close of business on 24 April 2026, citing serious regulatory violations and non-compliance with licence conditions.
• The RBI stated that the bank’s affairs were conducted in a manner detrimental to its own interests and those of its depositors.
• On 11 March 2022, the RBI barred PPBL from onboarding new customers because of material supervisory concerns.
• The RBI also directed PPBL to appoint an IT audit firm to conduct a comprehensive audit of its information technology systems.
• On 31 January and 16 February 2024, the RBI imposed further business restrictions, including prohibiting additional deposits, credits and top-ups in existing customer accounts, prepaid instruments and wallets.
• PPBL is an associate company of Paytm, the fintech firm promoted by Vijay Shekhar Sharma.
• The latest exclusion formally removes PPBL from the list of scheduled banks, following the cancellation of its banking licence and the court-ordered winding-up process.

Securities and Exchange Board of India Relaxes Merchant Banker Appointment Rules for Eligible Private Debt Placements

• The Securities and Exchange Board of India (SEBI) eased the mandatory appointment of merchant bankers for certain eligible listed issuers raising funds through the private placement of debt securities.
• The revised framework was announced through a SEBI circular dated 7 October 2026 and came into effect immediately.
• The measure aims to promote ease of debt issuance and improve retail investors’ access to high-rated debt securities.

Key Highlights :

• The exemption applies to eligible issuers privately placing debt securities or non-convertible redeemable preference shares (NCRPS) with a face value of ₹10,000; appointing a merchant banker remains the default requirement for issuers that do not qualify.
• Eligible issuers must be regulated by an Indian financial-sector regulator, such as SEBI, the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI), or the Pension Fund Regulatory and Development Authority (PFRDA).
• The issuer must have been listed on a recognised stock exchange for at least one year.
• The issuer must have no pending fines or penalties from SEBI or stock exchanges for violations of applicable listing regulations, and the stock exchange must confirm compliance during in-principle approval.
• The issuer must have no defaults during the previous three financial years or the current financial year in redemption, repayment, or interest/dividend payments relating to debt securities, preference shares, securitised debt instruments, commercial paper, deposits or loans.
• A statutory auditor’s certificate is required to establish the issuer’s clean repayment record.
• The debt securities must generally be unsubordinated or senior and secured by a first or pari passu charge on identifiable assets of the issuer.
• Central Public Sector Enterprises (CPSEs), Public Sector Undertakings (PSUs) and statutory bodies may issue securities that are either secured or unsecured under this condition.
• The privately placed debt must have a minimum credit rating of AA− at the time of issuance.
• Where an issue has multiple credit ratings, the lowest rating will be considered to determine eligibility for the exemption.
• Stock exchanges will establish operational requirements, including disclosure formats and submissions, and verify eligibility while granting in-principle approval.
• All other provisions of SEBI’s Non-Convertible Securities (NCS) Master Circular remain unchanged.

United Nations Development Programme and Generali Central Launch Insurance Innovation Challenge to Strengthen India’s Micro, Small and Medium Enterprises

• The United Nations Development Programme (UNDP) and Generali Central launched the UNDP–Generali Insurance Innovation Challenge to develop and scale insurance solutions that strengthen the resilience of India’s Micro, Small and Medium Enterprises (MSMEs).
• Generali Central represents the Generali Group’s general and life insurance businesses in India.
• India has more than 73 million MSMEs, which contribute approximately 30% of GDP and 44% of exports, while employing around 60% of the workforce.
• The challenge aims to bridge the MSME insurance protection gap caused by low awareness, perceived costs and insurance products that do not adequately meet MSMEs’ needs.
• The initiative seeks accessible and relevant insurance solutions to help MSMEs manage climate shocks, supply-chain disruptions, workplace risks and unexpected personal shocks affecting owners and workers.
• The challenge focuses on insurance products and distribution models addressing health-related events, business interruption and asset loss.
• The challenge is open to insurance providers, insurtech companies, technology service providers, social enterprises, and insurance sales and distribution companies legally registered in India.
• Priority will be given to technology-driven, affordable and accessible solutions that improve insurance access, bundle insurance with financial services, develop new distribution channels and strengthen financial literacy.
• Up to three winning solutions will each receive grants of up to US$40,000 to support the development or expansion of their solutions.
• The application deadline is 20 November 2026, and the winners are expected to be announced in February 2027.

About United Nations Development Programme :

• Formation : 22 November 1965
• Headquarters : New York City, USA
• Administrator : Alexander De Croo

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Ministry of Statistics and Programme Implementation Releases Strategy for Environmental-Economic Accounts in India 2026-2030

• The Ministry of Statistics and Programme Implementation has released the ‘Strategy for Environmental-Economic Accounts in India: 2026-2030’.
• The strategy builds upon the earlier 2022-2026 roadmap and aims to strengthen and systematically develop environmental accounting in India.

Key Highlights

• The document provides a broad roadmap for expanding the coverage and scope of environmental-economic accounts during 2026-2030.
• It focuses on new subjects and enhanced coverage of areas including forests, minerals, soil resources, land, water, carbon stock, biodiversity, environment-related activities and environment statistics.
• The strategy aims to address data gaps, identify potential data sources and provide an action plan for developing environmental-economic accounts in the country.
• It is expected to help States and Union Territories strengthen their environmental accounting systems and improve their understanding of the relationship between natural resources, the economy and the environment.
• The strategy will serve as a guiding framework for the more systematic and coordinated development of environmental-economic accounting in India during 2026-2030.

About Ministry of Statistics and Programme Implementation:

• Minister of State (Independent Charge): Rao Inderjit Singh
• Constituency: Gurgaon, Haryana

National PNG Drive 3.0 Launched to Accelerate Piped Natural Gas Adoption

• Petroleum and Natural Gas Minister Hardeep Singh Puri launched National PNG Drive 3.0 to accelerate the adoption of Piped Natural Gas (PNG) and support the Government’s goal of increasing natural gas’s share in India’s primary energy mix from around 6%.
• The initiative aims to promote cleaner, reliable and affordable energy and was launched during the event marking the 20th Foundation Day of the Petroleum and Natural Gas Regulatory Board.
• National PNG Drive 3.0 is being conducted from 1 October 2026 to 31 March 2027 in collaboration with the Ministry of Petroleum and Natural Gas, Petroleum and Natural Gas Regulatory Board, City Gas Distribution entities, public sector oil marketing companies and other stakeholders.
• The drive aims to encourage the shift from Liquefied Petroleum Gas (LPG) to PNG and ensure better utilisation of the existing City Gas Distribution infrastructure.

Key Highlights

• The key focus areas include activating dormant connections, maximising existing City Gas Distribution networks, expanding PNG coverage in semi-urban and rural areas, and connecting new consumers.
• India has already laid 6,87,966 inch-km of pipeline, creating potential for an additional 1.30 crore PNG connections.
• National PNG Drive 3.0 targets:
• 50 lakh new domestic PNG connections.
• 40 lakh conversions to active users.
• 50 lakh additional domestic PNG registrations.
• Under PNG Drive 2.0, the programme achieved 12.10 lakh connections, 13.37 lakh billed connections and 15.31 lakh Domestic Piped Natural Gas registrations.
• During PNG Drive 2.0, daily domestic PNG additions increased by 43%, while billed consumer additions increased by 166%.
• PNG Drive 3.0 aims to build on this progress and provide clean, convenient and reliable PNG to more households across India.
• To expand the availability of natural gas, the Petroleum and Natural Gas Regulatory Board has authorised around 34,233 km of Natural Gas Pipeline network, including common carrier pipelines, spur lines, tie-in connectivity and dedicated pipelines.
• Of the authorised Natural Gas Pipeline network, 25,429 km had been made operational as of June 2025, while 10,459 km was under various stages of construction.
• The Union Government has taken several measures to implement ‘One Nation, One Gas Grid’, including:
• Approval of key trunk pipelines.
• Provision of viability gap funding in low-demand areas.
• Introduction of a unified tariff.
• Accelerated expansion of the City Gas Distribution network.
• Establishment of Liquefied Natural Gas terminals.

About Ministry of Petroleum and Natural Gas:

• Cabinet Minister: Hardeep Singh Puri
• Constituency: Rajya Sabha, Uttar Pradesh
• Ministers of State (MoS): Suresh Gopi

Veerangana Durgavati Tiger Reserve Becomes Madhya Pradesh’s Third Cheetah Habitat

• Veerangana Durgavati Tiger Reserve (VDTR) in Sagar district of the Bundelkhand region, Madhya Pradesh, has become the third habitat for cheetahs in the state, after Kuno National Park and Gandhi Sagar Wildlife Sanctuary.
• Madhya Pradesh Chief Minister Mohan Yadav released two cheetahs — male Tholo and female CCB-3 — brought from Kuno National Park, into Veerangana Durgavati Tiger Reserve.
• The release took place on the concluding day of Wildlife Conservation Week and marked an expansion of the cheetah conservation and reintroduction programme to another suitable forest area in Madhya Pradesh.

Key Highlights

• Veerangana Durgavati Tiger Reserve, also known as Nauradehi Tiger Reserve, is Madhya Pradesh’s largest tiger habitat, covering approximately 2,339 square kilometres across Sagar, Damoh and Narsinghpur districts.
• The area was established in 1997 and was designated as a tiger reserve on 20 September 2023 after being integrated with the Nauradehi Wildlife Sanctuary.
• The reserve supports diverse wildlife, including tigers, leopards, chital, sambar, nilgai and bears, and is also important for the conservation of endangered Indian vulture species.
• Approximately 439 hectares have been specially prepared for the protection and adaptation of cheetahs, including secure habitats equipped with modern enclosures known as bomas and other facilities.
• The Forest Department has made arrangements for the safety, regular monitoring and healthcare of the cheetahs and has also developed a safe and suitable ecosystem for other wildlife in the reserve.
• The presence of cheetahs is expected to promote wildlife tourism in Sagar and Bundelkhand, generating new employment opportunities and supporting the local economy.
• Increased tourist arrivals are expected to benefit the hospitality sector, including hotels, resorts and homestays, as well as guides, drivers, small businesses and handicraft activities.
• Tourism-based economic activities are also expected to gain momentum in the surrounding rural areas.
• According to Chief Minister Mohan Yadav, India’s cheetah population has increased to 60, including 41 cheetahs born in India, after Indian-born cheetah KJP21 gave birth to five cubs at Kuno National Park.
• The births marked the beginning of the Botswana lineage in India, as the male cheetah involved was brought from Botswana.
• The Cheetah Reintroduction Programme was launched by Prime Minister Narendra Modi on 17 September 2022, when cheetahs brought from Namibia were released into Kuno National Park.
• Subsequently, cheetahs were also brought to India from South Africa, and the programme is now being expanded to other suitable forest areas in Madhya Pradesh.
• The release of Tholo and CCB-3 at Veerangana Durgavati Tiger Reserve forms an important part of the broader cheetah conservation campaign.
• Following the release of the two cheetahs, the cheetah population at Kuno National Park will stand at 54.
• Gandhi Sagar Wildlife Sanctuary, the second cheetah habitat in Madhya Pradesh, houses South African male cheetahs Prabhas and Pavak and female cheetahs Dheera and Radha.
• Radha was brought to India from Botswana in September.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park, Satpura National Park, Sanjay National Park, Madhav National Park, Van Vihar National Park, Mandla Plant Fossils National Park
• Wildlife Sanctuaries: Gandhi Sagar Wildlife Sanctuary, National Chambal Wildlife Sanctuary, Kuno Wildlife Sanctuary, Pachmarhi Wildlife Sanctuary, Pench Wildlife Sanctuary, Panna Wildlife Sanctuary, Nauradehi Wildlife Sanctuary, Singhori Wildlife Sanctuary, Bori Wildlife Sanctuary

GIFT City Rises to 37th Global Financial Centre in Global Financial Centres Index 40

• GIFT City improved by nine places to rank 37th globally in the latest Global Financial Centres Index 40, compared with 46th position in Global Financial Centres Index 39.
• GIFT City also entered the top 15 financial centres in the Asia-Pacific region.
• In the FinTech category, GIFT City ranked 26th globally, improving by three places from its previous rank of 29th.

Key Highlights

• The Global Financial Centres Index assessed 115 financial centres based on factors such as FinTech capabilities, access to finance, skilled talent, regulatory environment, and information and communication technology infrastructure.
• Global Financial Centres Index 40 placed GIFT City among the 15 financial centres expected to gain greater significance over the next two to three years, based on responses from participants in the Global Financial Centres Index survey.
• The improvement in GIFT City’s overall and FinTech rankings reflects the continued expansion of its financial services ecosystem and the integration of finance, technology, and innovation.
• The Global Financial Centres Index identified digital infrastructure, including cloud services, data connectivity, and cybersecurity resilience, as priority areas for financial centres over the next five years.
• The latest edition of the Global Financial Centres Index was based on 144 instrumental factors, 39,531 assessments, and responses from 6,147 participants to the Global Financial Centres Index online questionnaire.
• GIFT City is India's first International Financial Services Centre and serves as a financial and information technology services hub for global and domestic companies operating across banking, financial services, insurance, information technology, information technology-enabled services, FinTech, and other service sectors.

Commerce Ministry Proposes ₹23,000 Crore RoDTEP Allocation and Five-Year Extension

• The Ministry of Commerce has proposed increasing the allocation for the Remission of Duties and Taxes on Exported Products scheme to ₹23,000 crore for Financial Year 2026–27, compared with the current allocation of ₹10,000 crore.
• The Department of Commerce has raised the proposal with the Department of Expenditure, which will take the final decision on the higher allocation.
• The Ministry of Commerce has also proposed a five-year extension of the Remission of Duties and Taxes on Exported Products scheme.
• The scheme was scheduled to remain valid until 30 September 2026, with discussions on its continuation underway.

Key Highlights

• The government is considering a framework that would provide exporters with greater certainty regarding the duration of the scheme and refund rates. The Ministry expected clarity on the continuation by 30 September 2026.
• The Remission of Duties and Taxes on Exported Products scheme refunds duties, taxes, and levies paid at the central, state, and local levels on inputs used for exports when such amounts cannot be claimed as credit.
• The refund rate varies according to the exported product and currently ranges from 0.3% to 3.9% of the export value.
• Spending under the scheme has already exceeded the current Financial Year 2026–27 allocation. The revised estimate for Financial Year 2025–26 is ₹18,233 crore, compared with ₹18,313 crore spent in Financial Year 2024–25.
• Expenditure under the scheme stood at ₹15,019 crore in Financial Year 2023–24 and ₹13,175 crore in Financial Year 2022–23. Expenditure for the fourth quarter of Financial Year 2020–21 and Financial Year 2021–22 together stood at ₹13,843 crore.
• The Remission of Duties and Taxes on Exported Products scheme was launched in January 2021, replacing the Merchandise Exports from India Scheme, with the objective of aligning India's export incentives with World Trade Organization rules.
• The scheme was initially approved for 27 months, up to March 2023, with an allocation of ₹27,018 crore. It has since been extended at least five times, generally for periods ranging from six months to one year. The latest extension was announced in April 2026 for six months.
• The proposal comes amid an increase in India's merchandise exports in August 2026. Merchandise exports rose 26.1% year-on-year to US$43.8 billion, from US$34.7 billion a year earlier.
• Merchandise imports increased 14.1% to US$70.6 billion, while the merchandise trade deficit stood at US$26.86 billion, compared with US$27.2 billion in the corresponding period of the previous year.
• Overall exports increased 25.4% to US$82.7 billion, while exports in rupee terms increased 37.6%.
• The proposed ₹23,000 crore allocation and five-year extension are aimed at providing greater certainty and continued support to exporters. The Department of Expenditure will take the final decision on both proposals.

Government to Launch National Destination Digital Knowledge Grid for Tourism

• The Government of India has proposed the creation of a National Destination Digital Knowledge Grid to strengthen India's tourism and hospitality infrastructure and help travellers plan and execute their trips.
• The National Destination Digital Knowledge Grid is scheduled to be launched on 27 September 2026, as announced by Tourism and Culture Minister Gajendra Singh Shekhawat at the Hotels Association of India Conclave.
• The announcement comes amid an ongoing review of India's tourism sector by the Prime Minister's Office, along with discussions on reforms required over the next five years and the next decade.

Key Highlights

• The government plans to focus not only on investment in hospitality infrastructure and hotels, but also on developing and equipping human resources in the tourism sector.
• The government is moving towards a facilitator model rather than a traditional governance model, with the objective of enabling reforms and supporting the growth of different sectors. Tourism and hospitality have a significant multiplier effect across the economy.
• Domestic tourism has recorded substantial growth, with domestic visits increasing from 1.32 billion in 2014 to 4.26 billion in 2025, more than tripling over the decade. This represents a compound annual growth rate of 11%.
• The tourism sector has the potential to create 100 million jobs by 2047 and generate more than US$450 billion in foreign exchange earnings.
• According to industry estimates, every additional US$1 million invested in tourism marketing can generate 10,000 additional foreign tourist arrivals, resulting in more than US$35 million in gross economic value and foreign exchange earnings through the sector's multiplier effect.
• The sector currently contributes around 89 million jobs to the Indian economy, while the government aims to create an additional 25 million jobs over the next seven to eight years.
• The government is targeting an increase in the tourism sector's contribution to Gross Domestic Product from 5.22% to 10%.
• The government is working to establish Destination Management Organisations at tourist destinations and has identified 50 destinations for development as global tourism destinations. Industry participation will also be sought in managing these destinations.
• With travellers increasingly preferring experiential journeys, hotel development is expected to expand into Tier-II and Tier-III markets.
• Achieving the Viksit Bharat 2047 vision through tourism will require closer state-industry coordination, standardised regulations across states, sustainable infrastructure investment, and improved last-mile connectivity.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Union Minister Piyush Goyal Participates in Group (G20) Trade Ministers’ Meeting in Milwaukee, United States

• Union Minister Piyush Goyal, from the Ministry of Commerce and Industry (MoCI), attended the Group (G20) Trade Ministers’ Meeting held from 30 September to 1 October 2026 in Milwaukee, United States of America (USA).
• The meeting was held under the USA’s G20 Presidency as part of Piyush Goyal’s week-long official visit to the USA.
• The meeting discussed key global trade challenges, including food security, structural excess production capacity, forced labour in supply chains and reforms to the World Trade Organization (WTO).
• G20 Trade Ministers reached a consensus on the G20 Statement on the Weaponization of Food through Coercive Trade Actions, reaffirming their commitment to international cooperation.
• Piyush Goyal emphasised the importance of food security, protecting farmers’ interests and preventing food from being used as a tool of economic or political pressure.
• The Office of the United States Trade Representative (USTR) released a Joint Ministerial Statement signed by 15 participating countries, including India and the USA.
• The other signatories were Argentina, Australia, Canada, the European Union (EU), France, Germany, Italy, Japan, the Republic of Korea (South Korea), Mexico, Poland, Türkiye and the United Kingdom (UK).

CURRENT AFFAIRS: AWARDS AND HONOURS

Navanethem “Navi” Pillay Wins Nobel Peace Prize 2026

• Navanethem “Navi” Pillay, a South African jurist of Indian Tamil origin, was announced as the 2026 Nobel Peace Prize winner by the Norwegian Nobel Committee in Oslo, Norway.
• The award recognises her efforts to promote peace, protect human rights, strengthen international law, and ensure accountability for serious international crimes, including war crimes, crimes against humanity, and genocide.

Key Highlights

• Birth: 23 September 1941, Durban, South Africa. Pillay grew up under apartheid, a system of racial segregation and discrimination.
• As a lawyer, she defended people facing unfair treatment and became the first non-white woman to serve as a judge on South Africa’s High Court.
• Pillay served as a judge at the International Criminal Tribunal for Rwanda and the International Criminal Court. She also served as the United Nations High Commissioner for Human Rights from 2008 to 2014.
• During her tenure at the International Criminal Tribunal for Rwanda, she contributed to important cases concerning the 1994 Rwandan genocide. Her judicial work helped establish that rape could constitute an act of genocide under international law in certain circumstances.
• She also chaired a United Nations-backed commission that examined alleged human rights violations in the occupied Palestinian territory, including East Jerusalem, and Israel.
• Pillay has been involved in international legal work concerning Myanmar and the case at the International Court of Justice involving allegations of genocide against the Rohingya people.
• The allegations are subject to legal proceedings and should not be treated as established findings merely because a case has been brought.
• Her career spans the fight against racial discrimination in South Africa, judicial service at international tribunals, and leadership within the United Nations human rights system.
• The 2026 Nobel Peace Prize highlights the importance of international justice, human rights protection, and the fair application of law, including during wars and other major conflicts.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ministry of Information and Broadcasting Reforms Press Council of India by Appointing 13 Journalist Members

• The Ministry of Information and Broadcasting (MIB) reconstituted the Press Council of India (PCI) on 8 October 2026 by nominating 13 journalists, comprising six editors and seven other working journalists.
• The nominations were made under Sections 5 and 6 of the Press Council Act, 1978, to strengthen journalist representation in the statutory body.
• The Press Council of India (PCI) is a statutory, autonomous and quasi-judicial body established under the Press Council Act, 1978.
• The PCI is responsible for preserving press freedom, improving the standards of newspapers and news agencies, and promoting responsible journalism in India.
• The PCI comprises one Chairperson and 28 other members, making a total of 29 members.
• The PCI’s composition includes 13 working journalists (six editors and seven other journalists), six newspaper-owner representatives, five Members of Parliament (MPs) and three representatives from specialised fields.
• The three specialised-field representatives are nominated from the University Grants Commission (UGC), Bar Council of India (BCI) and Sahitya Akademi.
• Justice Ranjana Prakash Desai (Retd.), a former Supreme Court of India judge, is the Chairperson of the PCI; she was appointed on 24 April 2026 for a three-year term.
• The six nominated working journalists (Editors Category) are Pradeep Kumar Jain, Sayed Raza Husain Rizvi, Ankur Dua, Aparna Shukla, Raj Parwana/Narender Singh and Vinod Bajpai.
• The seven nominated working journalists (Other Than Editors Category) are Vinod Kohli, Geetartha Pathak, Prajnananda Chaudhuri, Kingshuk Pramanik, K. Nayak, Prasanna Kumar Mohanty and Bijoy Kakchingtabam.
• The PCI formulates the Norms of Journalistic Conduct, considers complaints concerning the press, and advises on matters related to press freedom and media standards.
• The nominations complete the journalist representation in the 15th Press Council of India.

About Press Council of India :

• Established : 1966
• Headquarters : New Delhi, Delhi

National Payments Corporation of India Chief Dilip Asbe Appointed Independent Director on SWIFT’s 15-Member Supervisory Board

• Dilip Asbe, Managing Director and Chief Executive Officer (MD & CEO) of the National Payments Corporation of India (NPCI), was appointed as an independent director on the 15-member Supervisory Board of SWIFT.
• SWIFT stands for Society for Worldwide Interbank Financial Telecommunication, an international messaging network that enables banks and financial institutions to exchange standardised instructions for cross-border payments.
• The SWIFT Supervisory Board is chaired by Graeme Munro, Managing Director of P. Morgan’s Commercial and Investment Bank.
• The Supervisory Board brings together senior executives and independent directors with expertise in global banking, payments, securities, market infrastructure, technology, risk and corporate governance.
• The board includes representatives from international financial institutions such as HSBC, Citibank, BNP Paribas, Bank of America, Standard Chartered, MUFG Bank, Bank of China (Hong Kong), Mashreq Bank, Scotiabank and Société Générale.
• The independent directors on the Supervisory Board include Dilip Asbe, Burkhard Balz, Inge Boets and Rima Qureshi.
• Javier Pérez-Tasso, Chief Executive Officer (CEO) of SWIFT, chairs the SWIFT Management Board.
• The 25-member SWIFT Council supports the governance structure by providing shareholder and user perspectives to help shape SWIFT’s strategy.
• The Supervisory Board and Management Board are supported by a governance structure designed to incorporate customer insights and diverse perspectives from the global financial community.

CURRENT AFFAIRS : DEFENCE NEWS

Hical Technologies and Safran Aerosystems Sign Memorandum of Understanding to Manufacture Rafale Systems in India

• Hical Technologies Private Limited, a Bengaluru-based Indian aerospace and defence manufacturer, signed a Memorandum of Understanding (MoU) with French aerospace and defence company Safran Aerosystems to explore establishing a Joint Venture (JV) in India.
• The proposed JV aims to manufacture complex systems for Dassault Rafale fighter aircraft in India under the Make in India initiative.
• The proposed manufacturing scope includes complex fluid systems, fuel systems, and related assemblies for Rafale aircraft.
• Hical Technologies’ newly inaugurated aerospace manufacturing facility at Devanahalli, near Bengaluru, Karnataka, will support the proposed partnership and expand its manufacturing capabilities.
• The MoU strengthens the role of Indian manufacturers in global aerospace and defence supply chains and supports India’s efforts to develop advanced indigenous manufacturing capabilities.
• Hical Technologies already works with Dassault Aviation on control systems for the Rafale programme, and the proposed JV could expand its role into complex aircraft systems manufacturing.
• In April 2025, India’s Cabinet Committee on Security (CCS) approved the procurement of 26 Rafale Marine (M) fighter jets from France.
• The Indian Air Force (IAF) operates 36 Rafale fighter aircraft, inducted in 2020 and stationed at Ambala, Haryana, and Hasimara, West Bengal.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

World Health Organization Prequalifies Serum Institute of India’s Indigenous Gender-Neutral HPV Vaccine, CERVAVAC®

• CERVAVAC®, India’s first indigenously developed gender-neutral quadrivalent Human Papillomavirus (qHPV) vaccine, developed by the Serum Institute of India (SII), received prequalification from the World Health Organization (WHO).
• WHO prequalification allows United Nations agencies to procure the vaccine, supporting its wider global availability.
• CERVAVAC® received the 32nd WHO prequalification for products/biologicals from the Serum Institute of India.
• The vaccine targets four HPV types: HPV 6, 11, 16 and 18.
• HPV types 16 and 18 are associated with cervical, vulvar, vaginal and anal cancers, while HPV types 6 and 11 cause most cases of genital warts.
• CERVAVAC® is indicated for girls and boys aged 9–26 years, with its use depending on the relevant population and approved indications.
• Individuals aged 9–14 years receive a two-dose schedule at 0 and 6 months, while those aged 15–26 years receive a three-dose schedule at 0, 2 and 6 months.
• The vaccine is administered intramuscularly and is available in 5 ml single-dose vials and 1.0 ml two-dose vials.
• CERVAVAC® was developed in collaboration with the Department of Biotechnology (DBT), Biotechnology Industry Research Assistance Council (BIRAC), the WHO’s International Agency for Research on Cancer (IARC) and the Gates Foundation.
• The vaccine was previously approved for use in India by the Drugs Controller General of India (DCGI).

About Serum Institute of India :

• Founded : 1966, is part of the Cyrus Poonawalla Group
• Headquarters : Pune, Maharashtra.
• The Serum Institute of India is a major global vaccine manufacturer with an annual production capacity of approximately 4 billion doses.

Kerala Agricultural University and Fuselage Flying Club Sign Memorandum of Understanding to Boost Drone Pilot Training and Agricultural Entrepreneurship

• Kerala Agricultural University (KAU) and Fuselage Flying Club Private Limited signed a Memorandum of Understanding (MoU) to expand drone pilot training and promote entrepreneurship in agriculture.
• The MoU aims to strengthen the Remote Pilot Training Organisation (RPTO) operating under KAU’s Agri-Business Incubator.
• KAU’s RPTO was established under a National Bank for Agriculture and Rural Development (NABARD) initiative to promote technological innovation in agriculture.
• Fuselage Innovations received a national award for outstanding agricultural start-up and is involved in the indigenous development and manufacture of agricultural drones.
• The partnership combines KAU’s academic and research capabilities with Fuselage’s expertise in agricultural drone technology and entrepreneurship.
• Agricultural drones can be procured under the Sub-Mission on Agricultural Mechanization (SMAM) scheme.
• Fuselage Flying Club announced free drone pilot training for customers purchasing its drones.
• Approximately 300 people have completed drone training at KAU’s Drone Pilot Training Centre, and more than 100 people have obtained licences.
• The initiative aims to promote precision farming, crop management, agricultural monitoring and crop protection, while improving farm efficiency and addressing labour shortages.

Kochi-Based EyeROV Supplies India’s First Indigenous Military-Grade Underwater ROV to the Indian Navy

• EyeROV (IROV Technologies Private Limited), a Kochi, Kerala-based marine robotics and Artificial Intelligence (AI) startup, delivered two EyeROV TROUT military-grade underwater Remotely Operated Vehicle (ROV) systems to the Indian Navy (IN).
• The delivery marked the introduction of India’s first indigenously built military-grade underwater ROV, designed, developed, manufactured and qualified in India for naval operations.
• The delivery is part of the Indian Navy’s order for five EyeROV TROUT systems.
• In September 2025, EyeROV secured a ₹47 crore contract from the Indian Navy to supply advanced underwater ROV systems.
• EyeROV TROUT is a rugged underwater robotic platform designed for mission-critical naval and subsea operations.
• Its key applications include underwater inspection, surveillance and reconnaissance, search and recovery, detection, and robotic intervention.
• The TROUT system was developed under the Innovations for Defence Excellence (iDEX) DISC 7 SPRINT Challenge, which promotes indigenous defence technologies for the Indian Armed Forces.
• The Indian Navy served as the nodal agency for the development programme, which involved designing and integrating a complete underwater robotic ecosystem.
• The system underwent extensive field trials and system-level validation to establish its suitability for military and naval operations.

Philip Morris India Partners with Litterati to Tackle Littering Using Data-Driven Solutions

• Philip Morris India Trading Private Limited (PM India) partnered with Litterati, a global civic technology company, to launch the first phase of a 12-month anti-littering initiative in Delhi under Project Unmesha on 5 October 2026.
• Project Unmesha is a flagship Corporate Social Responsibility (CSR) programme of Philip Morris India focused on environmental stewardship, circularity, climate resilience and sustainable urban public spaces.
• The collaboration aims to identify littering patterns and develop data-driven solutions to create cleaner and more sustainable public spaces.
• Litterati will use community science and Artificial Intelligence (AI)-enabled image recognition to identify litter hotspots, map litter composition and establish scientific baselines.
• The data collected will support behaviour change, responsible waste disposal, waste recovery and targeted clean-up solutions, contributing to the objectives of the Swachh Bharat Mission (SBM).
• The 12-month programme aims to establish a replicable, data-driven model combining litter mapping, impact measurement, behaviour change, infrastructure improvement and waste-management system strengthening.
• Under the #CleanWithBittu anti-littering campaign, more than 4,000 kg of litter was removed from public spaces across Delhi, Haryana and Uttar Pradesh during World Cleanup Day
• More than 1,600 kg of litter collected through the #CleanWithBittu campaign was diverted for recycling or composting, avoiding an estimated 2,200 kg of carbon dioxide equivalent (CO₂e) emissions.
• The new collaboration aims to complement clean-up drives by providing scientific evidence about litter hotspots, waste composition and the factors driving littering behaviour.
• Litterati is a civic technology company that uses community science and AI-driven image recognition to measure, map and reduce litter.
• Philip Morris India Trading Private Limited, formerly IPM India Wholesale Trading Private Limited, is a joint venture involving Philip Morris Brands SARL of Switzerland, Godfrey Phillips India Limited and K. Modi Investment & Financial Services Private Limited.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Coal Ministry Signs Agreements for Six Coal Mines and Launches 16th Commercial Coal Mine Auction

• The Ministry of Coal signed Coal Mine Development and Production Agreements with successful bidders of six coal mines auctioned during earlier commercial coal mine auction rounds.
• The agreements were signed for Tara (Revised), Margo West, Margo East, Mandla South, Dongeri Tal-II, and Dip Side of PKoC.
• The successful bidders included CG Syn-Gas & Chemicals, Jharkhand Exploration & Mining Corporation, Qube Commercial, Gallant Ispat, and The Singareni Collieries.

Key Highlights

• The six coal mines have combined geological reserves of 1,504 million tonnes and a total peak rated capacity of 11.62 million tonnes per annum.
• Once operational, the six mines are expected to generate annual revenue of ₹1,984 crore, attract capital investment of ₹1,743 crore, and create around 15,700 employment opportunities.
• The Ministry of Coal also launched the 16th round of commercial coal mine auctions, offering 25 coal blocks.
• The 16th auction round includes 21 fully explored coal mines and 4 partially explored coal mines spread across nine coal-bearing states: Arunachal Pradesh, Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Maharashtra, Odisha, Telangana, and West Bengal.
• Of the 25 coal blocks, 6 mines are offered under the Coal Mines (Special Provisions) Act, while 19 mines are offered under the Mines and Minerals (Development and Regulation) Act.
• The commercial coal mining framework is open to experienced mining companies, new entrants, and technology-driven enterprises.
• The framework provides for no end-use restrictions, 100% Foreign Direct Investment through the automatic route, and low upfront payments that can be adjusted against future revenue share.
• So far, the Government of India has auctioned 147 coal mines, with cumulative expected annual revenue of more than ₹47,500 crore and projected capital investment exceeding ₹55,000 crore across nine coal-bearing states.

Ministry of Micro, Small and Medium Enterprises Partners with Blinkit to Market PM Vishwakarma Products

• The Ministry of Micro, Small and Medium Enterprises has partnered with quick-commerce platform Blinkit to help artisans and craftspeople covered under the PM Vishwakarma scheme access a wider customer base and expand their market reach.

Key Highlights

• The initiative is being piloted in Bengaluru and is planned to be expanded to other cities. The Ministry has not disclosed the duration of the pilot, number of participating artisans, or cities proposed for the next phase.
• Under the collaboration, handcrafted products made by PM Vishwakarma beneficiaries will be listed on the Blinkit application, enabling customers to purchase these products through the quick-commerce platform.
• The product range will include traditional and handcrafted items such as pottery, dolls, toys, decorative products, and other artisan-made goods.
• The products will be sourced directly from PM Vishwakarma beneficiaries, providing artisans with an additional platform to reach consumers and strengthen their market opportunities.

CURRENT AFFAIRS: SPORTS NEWS

Max Verstappen Wins 2026 Bahrain Grand Prix at Sepang International Circuit

• Max Verstappen, the Dutch-Belgian racing driver representing Oracle Red Bull Racing, won the 2026 Formula One Gulf Air Bahrain Grand Prix at the Sepang International Circuit in Kuala Lumpur, Malaysia.
• The victory marked Red Bull Racing's first win of the 2026 Formula One season and Verstappen's 72nd Grand Prix victory.
• The race was the 22nd edition of the Bahrain Grand Prix and the 16th round of the 2026 Federation Internationale de l'Automobile Formula One World Championship.

Key Highlights

• The event marked the return of Formula One racing to the Sepang International Circuit after nearly a decade, with the previous Formula One race at the circuit held in 2017.
• The 56-lap race was affected by a rain-delayed start, followed by several dramatic developments during the race.
• Kimi Antonelli of Mercedes finished second, while Lewis Hamilton and Charles Leclerc of Ferrari secured third and fourth positions, respectively. Isack Hadjar of Red Bull Racing finished fifth.
• Verstappen ultimately held off Antonelli and won with a time of 1 hour, 47 minutes and 14.808 seconds, finishing 2.307 seconds ahead of Antonelli.
• Lewis Hamilton produced a strong recovery after dropping towards the back of the field during the early stages. He gradually moved up the order and overtook Isack Hadjar with two laps remaining to secure third place.
• The constructors' winning trophy was presented by Malaysian Prime Minister Anwar bin Ibrahim.
• The second-place trophy was presented to Kimi Antonelli by Shaikh Abdulla bin Isa Al Khalifa, President of the Bahrain Motor Federation and Federation Internationale de l'Automobile Vice-President for Sport in the Middle East and North Africa, along with Tan Sri Mokhzani Mahathir, President of the Motorsports Association of Malaysia.
• Khalid Taqi, Chairman of the Board of Gulf Air Group, presented the third-place trophy to Lewis Hamilton.

CURRENT AFFAIRS : OBITUARIES

Veteran Actor and Padma Shri Awardee Nana Patekar Passed Away at 75

• Veteran Indian actor and filmmaker Nana Patekar passed away at the age of 75 at his home in Goa.

About Nana Patekar :

• Nana Patekar’s birth name was Vishwanath Patekar, and he was born on 1 January 1951 in Murud-Janjira, Maharashtra.
• He made his acting debut in the Hindi film Gaman (1978) and gained recognition for Parinda (1989).
• His notable films include Krantiveer, Agni Sakshi, Welcome, Raajneeti, Ab Tak Chhappan, Natsamrat, and Salaam Bombay!
• He received wider international recognition through Salaam Bombay!, directed by Mira Nair, which was nominated for an Academy Award (Oscar).
• Nana Patekar made his directorial debut with Prahaar: The Final Attack (1991).
• He received three National Film Awards for his performances in Hindi cinema:
• 1990: Best Supporting Actor for Parinda (1989).
• 1995: Best Actor for Krantiveer (1994).
• 1997: Best Supporting Actor for Agni Sakshi (1996).
• He was awarded the Padma Shri in 2013 for his contributions to the field of Arts.
• He worked in both Hindi and Marathi cinema, theatre, and filmmaking, with a career spanning nearly five decades.
• He was known for his intense performances, distinctive acting style, and portrayals of complex or unconventional characters.
• In 2015, he co-founded the Naam Foundation with Marathi actor Makarand Anaspure to support drought-affected farmers and their families in Maharashtra.
• Nana Patekar underwent military training with the Maratha Light Infantry and was associated with the Indian Army during the 1999 Kargil War, spending time alongside soldiers in forward areas.

Veteran Freedom Fighter ‘Socio Vasu’ Passed Away at 103 in Kozhikode

• Veteran freedom fighter P. Vasu, popularly known as ‘Socio Vasu’, passed away on 8 October 2026 at his residence in Cheruvannur, Kozhikode, Keralam, at the age of 103.

About P. Vasu :

• Vasu was born in January 1923 and developed an interest in India’s freedom struggle after attending a public meeting addressed by Mahatma Gandhi during his 1934 visit to Kozhikode.
• He participated in the Quit India Movement of 1942 and led a protest march from Kundaithodu to Cheruvannur against British rule.
• For his participation in the freedom movement, he was arrested, assaulted by British police, and imprisoned for three-and-a-half months.
• In 1943, he reportedly spent more than nine months in hiding after police sought to arrest him in connection with a bomb-threat case related to the Farook Bridge; he denied involvement in the incident.
• After India’s independence, he joined the socialist movement and received party membership from socialist leader Jayaprakash Narayan in Kozhikode.
• His long association with socialist politics earned him the popular name ‘Socio Vasu’.
• In 1951, he declined an offer of 10 acres of land in Wayanad and ₹2,000 from the then Madras Presidency, stating that he had participated in the freedom struggle for India’s independence rather than for material benefits.
• During the Emergency (1975–1977), he participated in a protest involving the picketing of a post office and was seriously injured during police action.
• In 1997, then President K. R. Narayanan felicitated P. Vasu in New Delhi for his contribution to the freedom movement during celebrations marking the 50th anniversary of India’s independence.

Padma Shri-Awarded Kathak Dancer Roshan Kumari Passed Away

• Renowned Indian classical dancer, choreographer and Padma Shri awardee Roshan Kumari passed away at the age of 82 in Mumbai, Maharashtra.
• Roshan Kumari was born on 24 December 1937 in Ambala, Haryana.
• She was a prominent exponent of the Jaipur Gharana of Kathak, known for her performances, choreography and teaching.
• She received the Padma Shri in 1984 in the field of Art; the Padma Shri is India’s fourth-highest civilian award.
• She was the daughter of renowned percussionist Fakir Mohammed and classical and playback singer Zohrabai Ambalewali.
• In 1971, she founded Nritya Kala Kendra in Bandra, Mumbai, to train students and promote the Kathak dance tradition.
• She received the Sangeet Natak Akademi Award in recognition of her contributions to the performing arts.
• Her other honours included the Vishwa Unnyyan Samsad Award (1989), Maharashtra Gaurav Puraskar (1990) and Man Patra honour (1993).

CURRENT AFFAIRS: IMPORTANT DAYS

International Day of Science, Technology and Innovation for the South 2026

• The International Day of Science, Technology and Innovation for the South is observed annually on 16 September.
• The day was proclaimed by the United Nations General Assembly on 9 January 2024 through Resolution A/RES/78/259.
• The observance is rooted in the Havana Declaration, adopted by the leaders of the Group of 77 and China during the Summit on Science, Technology and Innovation held in Havana, Cuba, in September 2023.
• The day highlights the importance of Science, Technology and Innovation in addressing development challenges faced by countries of the Global South.
• It aims to promote efforts to bridge persistent gaps in access to technology and strengthen the contribution of science, technology and innovation towards achieving the 2030 Agenda for Sustainable Development and the Sustainable Development Goals.
• The observance also underlines the importance of international cooperation and innovation led by countries of the Global South in addressing technological and developmental disparities.
• A significant global disparity exists in research and development investment: high-income countries account for approximately 77% of global research and development spending, while low-income countries contribute around 0.3%.

International Day for Interventional Cardiology 2026

• The International Day for Interventional Cardiology is observed annually on 16 September to raise awareness about cardiovascular diseases and the importance of interventional cardiology in addressing the global burden of non-communicable diseases.
• The day was proclaimed by the United Nations General Assembly in September 2022 through Resolution A/RES/76/302.
• 16 September also marks the anniversary of the first coronary angioplasty, performed by Dr. Andreas Grüntzig on 16 September 1977.
• The observance focuses on increasing global awareness about cardiovascular diseases, promoting minimally invasive cardiac procedures such as balloon angioplasty and stent placement, encouraging early detection, and expanding access to universal health coverage.
• The day highlights the importance of improving access to effective cardiovascular care, particularly in countries and communities where healthcare resources remain limited.
• Cardiovascular diseases continue to be one of the leading causes of death worldwide, with a large proportion of cardiovascular-related deaths occurring in low- and middle-income countries.

Indian Air Force Day 2026 is celebrated on 8 October

• India celebrates the 94th Indian Air Force Day on 8 October 2026 to commemorate the establishment of the Indian Air Force and raise awareness about its role in safeguarding India's national security.
• The Indian Air Force (IAF) was established on 8 October 1932. Its primary mission is to protect the nation by controlling and exploiting air and space capabilities.
• The theme for 2026 is “Indian Air Force – Infallible, Impervious and Precise”, highlighting the force's operational preparedness, resilience and precision.
• The Indian Air Force conducted its first operational flight on 1 April 1933.
• The Indian Air Force first saw action during operations against tribal forces in Waziristan.
• The Indian Air Force plays a significant role in India's defence and has contributed to the country's military operations and national security.

Daily CA One- Liner: October 10

• The Ministry of Statistics and Programme Implementation has released the ‘Strategy for Environmental-Economic Accounts in India: 2026-2030’
• Petroleum and Natural Gas Minister Hardeep Singh Puri launched National PNG Drive 3.0 to accelerate the adoption of Piped Natural Gas PNG) and support the Government’s goal of increasing natural gas’s share in India’s primary energy mix from around 6%.
• Veerangana Durgavati Tiger Reserve (VDTR) in Sagar district of the Bundelkhand region, Madhya Pradesh, has become the third habitat for cheetahs in the state, after Kuno National Park and Gandhi Sagar Wildlife Sanctuary
• GIFT City improved by nine places to rank 37th globally in the latest Global Financial Centres Index 40, compared with 46th position in Global Financial Centres Index 39
• The Ministry of Commerce has proposed increasing the allocation for the Remission of Duties and Taxes on Exported Products scheme to ₹23,000 crore for Financial Year 2026–27, compared with the current allocation of ₹10,000 crore.
• The Government of India has proposed the creation of a National Destination Digital Knowledge Grid to strengthen India's tourism and hospitality infrastructure and help travellers plan and execute their trips
• Navanethem “Navi” Pillay, a South African jurist of Indian Tamil origin, was announced as the 2026 Nobel Peace Prize winner by the Norwegian Nobel Committee in Oslo, Norway
• The Ministry of Coal signed Coal Mine Development and Production Agreements with successful bidders of six coal mines auctioned during earlier commercial coal mine auction rounds
• The Ministry of Micro, Small and Medium Enterprises has partnered with quick-commerce platform Blinkit to help artisans and craftspeople covered under the PM Vishwakarma scheme access a wider customer base and expand their market reach
• Max Verstappen, the Dutch-Belgian racing driver representing Oracle Red Bull Racing, won the 2026 Formula One Gulf Air Bahrain Grand Prix at the Sepang International Circuit in Kuala Lumpur, Malaysia
• The International Day of Science, Technology and Innovation for the South is observed annually on 16 September
• The International Day for Interventional Cardiology is observed annually on 16 September to raise awareness about cardiovascular diseases and the importance of interventional cardiology in addressing the global burden of non-communicable diseases
• India celebrates the 94th Indian Air Force Day on 8 October 2026 to commemorate the establishment of the Indian Air Force and raise awareness about its role in safeguarding India's national security
• The Reserve Bank of India (RBI) excluded Paytm Payments Bank Limited (PPBL) from the Second Schedule of the RBI Act, 1934, following the cancellation of its banking licence and the court-directed winding-up process.
• The Securities and Exchange Board of India (SEBI) eased the mandatory appointment of merchant bankers for certain eligible listed issuers raising funds through the private placement of debt securities.
• The United Nations Development Programme (UNDP) and Generali Central launched the UNDP–Generali Insurance Innovation Challenge to develop and scale insurance solutions that strengthen the resilience of India’s Micro, Small and Medium Enterprises (MSMEs).
• Union Minister Piyush Goyal, from the Ministry of Commerce and Industry (MoCI), attended the Group (G20) Trade Ministers’ Meeting held from 30 September to 1 October 2026 in Milwaukee, United States of America (USA).
• The Ministry of Information and Broadcasting (MIB) reconstituted the Press Council of India (PCI) on 8 October 2026 by nominating 13 journalists, comprising six editors and seven other working journalists.
• Dilip Asbe, Managing Director and Chief Executive Officer (MD & CEO) of the National Payments Corporation of India (NPCI), was appointed as an independent director on the 15-member Supervisory Board of SWIFT.
• Hical Technologies Private Limited, a Bengaluru-based Indian aerospace and defence manufacturer, signed a Memorandum of Understanding (MoU) with French aerospace and defence company Safran Aerosystems to explore establishing a Joint Venture (JV) in India.
• CERVAVAC®, India’s first indigenously developed gender-neutral quadrivalent Human Papillomavirus (qHPV) vaccine, developed by the Serum Institute of India (SII), received prequalification from the World Health Organization (WHO).
• Kerala Agricultural University (KAU) and Fuselage Flying Club Private Limited signed a Memorandum of Understanding (MoU) to expand drone pilot training and promote entrepreneurship in agriculture.
• EyeROV (IROV Technologies Private Limited), a Kochi, Kerala-based marine robotics and Artificial Intelligence (AI) startup, delivered two EyeROV TROUT military-grade underwater Remotely Operated Vehicle (ROV) systems to the Indian Navy (IN).
• Philip Morris India Trading Private Limited (PM India) partnered with Litterati, a global civic technology company, to launch the first phase of a 12-month anti-littering initiative in Delhi under Project Unmesha on 5 October 2026.
• Veteran Indian actor and filmmaker Nana Patekar passed away at the age of 75 at his home in Goa.
• Veteran freedom fighter P. Vasu, popularly known as ‘Socio Vasu’, passed away on 8 October 2026 at his residence in Cheruvannur, Kozhikode, Keralam, at the age of 103.
• Renowned Indian classical dancer, choreographer and Padma Shri awardee Roshan Kumari passed away at the age of 82 in Mumbai, Maharashtra.