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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Institute of Economic Growth and Ministry of Finance Conclude Fifth Kautilya Economic Conclave (KEC 2026) in New Delhi

• The Institute of Economic Growth (IEG), in partnership with the Ministry of Finance, Government of India, successfully organised the Fifth Kautilya Economic Conclave (KEC 2026) from 3–5 October 2026 in New Delhi.
• The theme of KEC 2026 was “Resilience in an Age of Flux.”
• The Conclave was inaugurated on 3 October 2026 by Vice-President of India P. Radhakrishnan, who delivered the inaugural address.

Key Highlights :

• The three-day Conclave brought together more than 200 policymakers, economists, academics, financial experts, and international thought leaders, including over 80 international participants from around 30 countries.
• A key highlight was the special plenary session titled “Resilience in an Age of Flux: India’s Economic Priorities,” addressed by Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs.
• Amélie de Montchalin, President of France’s Cour des Comptes, participated as the discussant in the special plenary session on India’s economic priorities.
• Jyotiraditya M. Scindia, Union Minister for Communications and Development of the North Eastern Region, delivered the keynote address titled “Connected India, Empowered Finance: Building Trusted Digital Infrastructure for the AI Economy.”
• Gajendra Singh Shekhawat, Union Minister for Culture and Tourism, delivered the keynote address titled “Culture as Capital: From Heritage to Horizons.”
• The Conclave discussed global economic fragmentation, trade and supply chains, fiscal and structural reforms, financial markets, development finance, investment, artificial intelligence, employment and skills, demographic change, food systems, sustainability, and climate finance.
• Discussions also focused on monetary policy, inflation, financial stability, capital flows, institutional credibility, and macroeconomic resilience amid global uncertainty.
• The Conclave highlighted the importance of inclusive growth, economic resilience, technological innovation, trusted digital infrastructure, and evidence-based policymaking.
• The Kautilya Economic Conclave was first held in 2022 and serves as a platform connecting economic research, policymaking, and international perspectives.
• The previous editions of the Kautilya Economic Conclave were held under the following themes:
• 2022: “Redefining the Future”
• 2023: “Navigating a World on Fire”
• 2024: “The Indian Era”
• 2025: “Seeking Prosperity in Turbulent Times”
• 2026: “Resilience in an Age of Flux”

Securities and Exchange Board of India Introduces Revised Settlement Formula and Fast-Track Mechanism Under New Settlement Rules

• The Securities and Exchange Board of India (SEBI) notified the Settlement Regulations, 2026, on 6 October 2026 to simplify settlement procedures and make them more transparent, predictable and less discretionary.
• The revised regulations introduce a fast-track settlement mechanism for eligible cases involving settlement amounts of ₹10 lakh or less.
• The fast-track settlement mechanism has two categories: Violation-Based Fast-Track Settlement and Monetary Threshold-Based Fast-Track Settlement.
• Under the monetary threshold-based route, cases with a settlement amount not exceeding ₹10 lakh will move directly from the Internal Committee to a panel of Whole-Time Members.
• Under the violation-based fast-track route, SEBI will issue a notice offering the entity an opportunity to settle the matter by paying the specified amount, after which the panel of members will pass the settlement order.
• The revised settlement terms will comprise three components: settlement amount, disgorgement of wrongful gains wherever applicable, and remedial and regulatory terms (RRT).
• Remedial and Regulatory Terms (RRT) replace the earlier non-monetary terms.
• SEBI introduced a revised formula for calculating settlement amounts, based on a base amount linked to the minimum penalty prescribed for the violation under securities laws.
• The base amount will be adjusted according to the stage of proceedings, regulatory action, gravity of the violation, aggravating factors, mitigating factors and legal costs.
• Wrongful gains, loss avoided or loss caused to investors will be calculated separately and, wherever quantified, disgorged separately rather than being included in the base settlement amount.
• The revised formula eliminates the double counting of wrongful gains and investor-related losses while calculating settlement terms.
• Cases involving misrepresentation of financial statements or diversion of funds can also be settled, subject to appropriate corrective, remedial and regulatory measures.
• Such cases may require necessary disclosures and the return of diverted funds, wherever applicable.

Federal Bank Introduces ‘Verto’ Premium Savings Account Targeting Young Professionals and Entrepreneurs

• Federal Bank Limited launched ‘Verto’, a premium savings account offering integrated financial solutions for young professionals and entrepreneurs.
• The Verto Premium Savings Account is designed for eligible resident individuals who meet specified minimum balance, salary, or banking relationship criteria.
• Verto offers complimentary insurance coverage of up to ₹35 lakh to provide additional financial protection to account holders.
• Verto account holders receive 5% cashback on debit card spending on food, fashion, and flight bookings.
• The account provides complimentary domestic airport lounge access as a premium banking benefit.
• Other benefits include locker rent concessions, outward remittance benefits, and privileges for spouses and children.
• Verto also provides personalised spending insights, cashback summaries, market updates, and wealth creation opportunities.

About Federal Bank Limited :

• Incorporated : 1931
• Headquarters : Aluva, Kerala.
• Managing Director and Chief Executive Officer : KVS Manian

World Bank Supports Kerala’s Plan to Establish Carbon Credit Cell Under ₹2,365 Crore KERA Project

• The World Bank (WB) supported the Government of Kerala’s proposal to establish a Carbon Credit Cell under the Department of Agriculture to promote sustainable farming and increase farmers’ income.
• The proposed Carbon Credit Cell will be established under the Kerala Climate Resilient Agri-Value Chain Modernisation (KERA) Project, with an outlay of ₹2,365 crore (approximately USD 285 million).
• The KERA Project is a five-year initiative (2024–2029) supported by the World Bank and implemented by the Government of Kerala.
• The main objectives of the KERA Project are to promote climate-resilient agriculture, strengthen agricultural value chains, address climate-change challenges, and improve market access and supply-chain efficiency, particularly for small farmers.
• The proposed Carbon Credit Cell aims to encourage climate-friendly farming practices, promote carbon sequestration, and provide farmers with additional income opportunities through carbon credits.
• The proposal was discussed during a meeting between Siddique, Kerala’s Agriculture Minister, and a visiting World Bank team reviewing the implementation of the KERA Project.
• The World Bank mission was scheduled to review the project’s progress across Kerala until 13 October 2026, with participation from Project Director Minhaj Alam (IAS) and state officials.
• The review also focused on ensuring the effective and timely utilisation of KERA Project funds and strengthening the resilience of Kerala’s agriculture to climate-related challenges.
• The project will support improvements in coconut farming, agricultural marketing, farmer organisations, and supply chains for high-value crops.
• The meeting also discussed mango cultivation in Muthalamada, high-tech vegetable farming in Elavanchery, and avocado cultivation in Wayanad.

Reserve Bank of India Sells Government Securities Worth ₹50,000 Crore Through Open Market Operation Auction to Absorb Banking System Liquidity

• The Reserve Bank of India (RBI) sold ₹50,000 crore worth of Government Securities (G-Secs) through an Open Market Operation (OMO) sale auction to absorb surplus liquidity from the banking system.
• The ₹50,000 crore auction was the first of three OMO sale tranches, with the RBI planning to absorb a total of ₹1 trillion (₹1 lakh crore) through OMO sales in September.
• The 10-year benchmark government bond yield settled at 05%, unchanged from the previous close.
• The banking system’s net liquidity surplus stood at ₹7.37 trillion on Wednesday, down from ₹9.85 trillion on Tuesday, according to RBI data.
• The Weighted Average Call Rate (WACR), the operating target of monetary policy, settled at 05%, compared with 5.02% on Wednesday.
• The RBI aims to bring the WACR closer to the policy repo rate of 5.25% by draining excess liquidity from the banking system.
• Longer-tenure Variable Rate Reverse Repo (VRRR) auctions received muted demand, as banks were reluctant to park funds for 30 days, prompting the RBI to use OMO sales to absorb liquidity.
• According to RBI data, the durable liquidity surplus stood at ₹10.66 trillion as of 31 August and was estimated to have increased to ₹14 trillion by the middle of September.
• The RBI was expected to conduct additional OMO sale auctions in October to absorb surplus durable liquidity.

SBI Research Estimates ₹5 Trillion Potential Profit for Banks from USD 127 Billion FCNR(B) Deposits Over Five Years

• According to SBI Research, Indian banks mobilised approximately USD 127 billion through the Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit scheme, potentially generating a notional profit of around ₹5 trillion over five years.
• The funds mobilised through the concessional dollar-rupee swap scheme could support approximately ₹25 trillion in additional bank credit.
• The deposits were mobilised in less than three months, before the Reserve Bank of India (RBI) advanced the closure of the deposit window.
• At an assumed 5% lending yield, the funds could generate approximately ₹1.8 trillion in annual income.
• After accounting for annual interest payments of around ₹75,000 crore on the deposits, SBI Research estimated an effective annual net interest margin (NIM) of approximately ₹1 trillion, or ₹5 trillion over five years.
• The report estimated an additional interest cost of ₹1.75 trillion and a foreign-exchange depreciation cost of ₹3.18 trillion, assuming 5% annual rupee depreciation over five years.
• The RBI introduced a special dollar-rupee swap facility to hedge the exchange-rate risk associated with the FCNR(B) deposits.
• SBI Research estimated the cumulative foreign-exchange hedging cost at approximately USD 15 billion on the USD 127 billion mobilised.
• The hedging-cost calculation assumed an average annual dollar-rupee hedging cost of 3%, with deposits divided into one-year, three-year, and five-year maturity buckets.
• The report estimated that investing USD 100 billion in globally investible avenues at a 4% yield over five years could generate approximately USD 20 billion.
• After deducting the estimated USD 15 billion hedging cost, the investment could leave a surplus of approximately USD 5 billion (₹50,000 crore) for the central bank’s balance sheet.
• The additional banking-system liquidity generated by the scheme could be absorbed over time through festival-season demand, credit disbursements, new loan sanctions, advance-tax payments, and Goods and Services Tax (GST)-related government outflows.

India’s Micro, Small and Medium Enterprises Credit Portfolio Reaches ₹47.4 Trillion as Industrial and Trading Clusters Drive Growth: CRIF High Mark Report

• According to a report by CRIF High Mark, India’s Micro, Small and Medium Enterprises (MSME) credit portfolio grew 5% year-on-year to ₹47.4 trillion as of June 2026.
• CRIF High Mark classifies MSMEs by credit exposure as Micro: up to ₹2 crore, Small: ₹2–20 crore, and Medium: ₹20–100 crore.
• Small enterprises recorded credit portfolio growth of 3%, while medium enterprises grew by 21.3%; lending to micro enterprises remained largely stagnant.
• Micro enterprises accounted for 4% of active MSME credit accounts, indicating further scope for credit expansion and formalisation.
• By sector, manufacturing credit grew 4%, trading credit increased 12.7%, while services credit recorded marginal growth of 0.2%.
• Within manufacturing, engineering and machinery accounted for the largest share of credit, followed by agro and forestry, chemicals, basic metals, and textiles.
• The number of high-density engineering and machinery districts, where MSME credit exceeds ₹1,000 crore, nearly doubled from 24 to 47 in three years; these districts accounted for 5% of sectoral credit.
• Pune, Ahmedabad, Bengaluru, Mumbai, and Rajkot together accounted for 7% of engineering and machinery credit.
• High-credit wholesale trade districts increased from 54 to 119, accounting for 7% of wholesale trade credit.
• High-volume retail trade districts increased from 143 to 189, accounting for 1% of retail trade credit.
• In the chemicals sector, 24 mature clusters accounted for 1% of sectoral credit, with Ahmedabad and Mumbai emerging as key hubs.
• In the textile sector, 15 clusters accounted for 8% of sectoral credit, with Surat alone contributing 19.4%.
• Private-sector banks led lending across MSME clusters, while Non-Banking Financial Companies (NBFCs) increased their share in certain industrial segments, including chemicals.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Delhi Government Launches Expanded Advanced Newborn Monitoring and Optimal Lifecare Scheme and Other Healthcare Initiatives

• Delhi Chief Minister Rekha Gupta and Lieutenant Governor Taranjit Singh Sandhu launched several healthcare initiatives under the ‘Seva Sankalp Abhiyan’.
• The programme was held at Thyagraj Stadium and attended by Delhi Health Minister Pankaj Singh.
• The monthly incentive amount for Accredited Social Health Activist (ASHA) workers has been increased from ₹3,000 to ₹6,000.
• The decision will benefit 6,690 ASHA workers in Delhi and strengthen door-to-door healthcare services.

Key Highlights

• The headquarters of the State Organ and Tissue Transplant Organisation (SOTTO) was launched at Govind Ballabh Pant Hospital (G. B. Pant Hospital). It will coordinate the organ donation and transplantation process and facilitate timely assistance for patients requiring transplants.
• Under the expanded ANMOL scheme, 56 types of screening tests will be conducted using a single blood sample from newborn babies. The initiative aims to enable the early detection and timely treatment of genetic, metabolic and congenital diseases. All tests under the scheme will be provided free of cost.
• The portal was launched to simplify nursing home-related processes and improve transparency and accountability in their management.

About Delhi (National Capital Territory):x

• Chief Minister: Rekha Gupta
• Lieutenant Governor: Taranjit Singh Sandhu
• Capital: New Delhi
• National Parks: None
• Wildlife Sanctuaries: Asola Bhatti (Indira Priyadarshini) Wildlife Sanctuary

Shri Ram Janmbhoomi Teerth Kshetra in Ayodhya Certified as an Eat Right Place of Worship by Food Safety and Standards Authority of India

• The Food Safety and Standards Authority of India (FSSAI) has certified Shri Ram Janmbhoomi Teerth Kshetra, Ayodhya, Uttar Pradesh, as an ‘Eat Right Place of Worship’ for maintaining adequate food safety and hygiene standards.
• The certificate is valid for two years, from 11 October 2026 to 10 October 2028, in accordance with FSSAI guidelines.

Key Highlights

• FSSAI Chief Executive Officer Rajit Punhani handed over the certificate at a special ceremony in Ayodhya.
• Eat Right Places of Worship is an FSSAI initiative that encourages places of worship to adopt and maintain food safety and hygiene standards. It also promotes food safety awareness and encourages people to act as responsible citizens.
• The initiative aims to prevent malpractices and irregularities in food served as Prasad, Langar and other religious offerings, while ensuring compliance with the Food Safety and Standards Act, 2006, and the rules and regulations framed under it.
• The initiative provides useful tips, guidelines, do’s and don’ts, and recommended practices for maintaining food safety and hygiene at places of worship.
• Certification process: FSSAI conducts a pre-audit based on a prescribed checklist, provides training to the concerned establishment, and then arranges a final audit by third-party agencies before issuing certification.
• Related fact: The new idol of Ram Lalla at the Ayodhya temple was consecrated on 22 January 2024 in a ceremony led by Prime Minister Narendra Modi.

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kishanpur Wildlife Sanctuary, Hastinapur Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, Kaimur Wildlife Sanctuary, Bakhira Wildlife Sanctuary, Nawabganj Bird Sanctuary, Okhla Bird Sanctuary

National Human Rights Commission of India Celebrates 33rd Foundation Day on 12 October 2026

• The National Human Rights Commission (NHRC), India, is celebrating its 33rd Foundation Day on 12 October 2026 at Vigyan Bhawan.
• Chief Justice of India Justice Surya Kant will attend as the Chief Guest. The event will be attended by NHRC Chairperson Justice V. Ramasubramanian, Members Justice (Dr.) Bidyut Ranjan Sarangi, Vijaya Bharathi Sayani and Priyank Kanoongo, Secretary General Piyush Goyal, senior officers and other dignitaries.

Key Highlights

• The Foundation Day marks the Commission's journey since its establishment on 12 October 1993 and provides an opportunity to renew its commitment to protecting and promoting human rights.
• The Foundation Day function will be followed by a National Conference on “Water as the Elixir of Life: Advancing Human Dignity through the Right to Water.”
• The conference will have two technical sessions:
• “Protection and Restoration of Water Bodies: Safeguarding the Foundation of the Right to Water.”
• “Protecting Drinking Water Sources: Ensuring Safe and Sustainable Access to Water for All.”
• The NHRC has issued 35 advisories on various human rights issues.
• The Commission has also recommended amendments to 97 laws that discriminate against persons affected by Hansen's disease.
• National conferences: During the previous year, the NHRC organised two National Conferences on “Ensuring Everyday Essentials: Public Services and Dignity for All” and “Human Rights of Prison Inmates.”
• Core Groups: The Commission has 12 Core Groups, comprising experts, non-governmental organisations and senior government officials, to examine human rights issues, evaluate government schemes and recommend improvements. Four meetings were held during the previous year on:
• Human rights violations arising from re-verification and reassessment of certificates of government employees with disabilities.
• Food adulteration in India, including its scale, challenges and reforms.
• Protection of migrant workers' rights and the shared responsibilities of the government and private sector.
• Heat waves and their mitigation in urban areas.
• The NHRC participates in international human rights forums, including the Asia Pacific Forum of National Human Rights Institutions.
• In partnership with the Ministry of External Affairs, it conducts Indian Technical and Economic Cooperation (ITEC) capacity-building and experience-sharing programmes to strengthen National Human Rights Institutions (NHRIs) in the Global South.
• The Commission has conducted five capacity-building programmes, including one in September 2026, involving 149 senior officials from NHRIs across 46 countries in Africa, East Asia, Central Asia, South America and the Pacific.
• These programmes promote global dialogue, South-South cooperation and rights-based governance.
• In addition to its monthly newsletters, the NHRC released two publications during the previous year: its annual Journal, containing research-based articles on thematic human rights issues in English, and “ManavAdhikar: NaiDishayein” in Hindi.
• The Commission has expanded access to its services by linking the HRCNet Portal with State authorities and most State Human Rights Commissions. Individuals can submit complaints online and track their status in real time.
• The NHRC India Mobile Application, launched during the previous year, further supports these facilities and provides updates on Commission activities and human rights awareness programmes.

Ambaji Mohanthal Prasad from Gujarat Receives Geographical Indication Tag

• Ambaji Mohanthal Prasad, the traditional sweet offering of Ambaji Temple in Gujarat, received a Geographical Indication (GI) tag.
• The GI application was filed on 1 October 2026 by the Shree Arasuri Ambaji Mata Devsthan Trust.

Key Highlights

• The GI certificate was presented to Mihir Patel, Banaskantha Collector and Managing Trustee of the Ambaji Temple Trust, by Professor (Dr.) Unnat P. Pandit, Controller General of Patents, Designs and Trade Marks and Registrar of Geographical Indications.
• Ambaji Mohanthal Prasad is registered under Class 30, which covers products such as sweets and confectionery. The protection applies to the name “Ambaji Mohanthal.”
• Located in Banaskantha district, Gujarat, Ambaji Temple is one of India's prominent Shaktipeeths. Mohanthal is prepared using gram flour, sugar and ghee and is offered as prasad at the temple, reflecting its religious and culinary traditions.
• GI registration in India is governed by the Geographical Indications of Goods (Registration and Protection) Act, 1999. The GI Registry operates under the Controller General of Patents, Designs and Trade Marks and covers agricultural, natural and manufactured goods.
• A registered GI is valid for 10 years and can be renewed for successive periods of 10 years. Registration provides authorised users with the right to use the GI for the registered goods and offers legal protection against unauthorised use.

About Gujarat:

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

Supreme Court of India Constitutes Standing Committee on Judicial Well-being

• Chief Justice of India Surya Kant constituted a Standing Committee on Judicial Well-being under the aegis of the Supreme Court of India on the occasion of World Mental Health Day, observed on 10 October.
• The initiative aims to institutionalise measures supporting the mental and physical well-being of judicial officers.

Key Highlights

• Composition of the Committee:
• Chairperson: Justice K. V. Viswanathan, Judge, Supreme Court of India.
• Dr. Savita Malhotra: Former Dean of the Postgraduate Institute of Medical Education and Research, Chandigarh, and Professor and Head of the Department of Psychiatry.
• Rajat Mitra: Psychologist, Director and Co-founder of the Swanchetan Society for Mental Health.
• Mrinal Kanwar: Advocate-on-Record, Supreme Court of India.
• Aarti Singh: Registrar (Judicial), Centre for Research and Planning, Supreme Court of India.
• Research-based foundation: The initiative follows a research exercise conducted by the Centre for Research and Planning, Supreme Court of India, focusing on the well-being of judicial officers serving in the District Judiciary.
• The research examines factors affecting judicial well-being, including occupational stress, excessive workload, mental and physical exhaustion, staff shortages, inadequate infrastructure, administrative burdens, transfers, work-life balance and access to institutional support.
• The initiative aligns with the Nauru Declaration on Judicial Well-being, adopted on 25 July 2024, which emphasises systemic and evidence-based measures to protect the health and well-being of judicial officers.
• The United Nations General Assembly, in March 2025, proclaimed 25 July as the International Day for Judicial Well-being, recognising the connection between judges' well-being and the effective administration of justice.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations Trade and Development Report 2026: India Accounts for 5.7% of Global Greenfield Investment, More Than Double China’s Share

• According to the Trade and Development Report 2026, published by the United Nations Trade and Development (UNCTAD), India accounted for 7% of global greenfield investment during 2020–2025, more than double China’s share of 2.8%.
• Among the selected countries, India was followed by Malaysia (4%), Indonesia (3.8%) and China (2.8%) in global greenfield investment during 2020–2025.
• Greenfield investment refers to investment in establishing new business operations or facilities in a foreign country.
• The Trade and Development Report is published annually by UNCTAD and was first launched in 1981 to analyse global economic trends and major international policy issues.

Key Highlights :

• UNCTAD is the United Nations body responsible for trade, investment and development issues. It was established in 1964, and its headquarters are in Geneva, Switzerland.
• Global trade reached a record USD 35 trillion in 2025 and is projected to grow by 4% in 2026, compared with 4% in 2025.
• Global economic growth is projected to slow from 9% in 2025 to 2.6% in 2026, while developing economies are expected to grow by 4% in 2026, down from 4.7% in 2025.
• Asia is projected to contribute 59% of global economic growth in 2026.
• The share of strategic sectors in global greenfield investment increased from 16% in 2020 to 44% in 2025, highlighting the growing importance of strategic industries.
• Between 2020 and 2025, global greenfield investment in strategic sectors totalled USD 845.7 billion, with AI infrastructure and related technologies attracting the largest share at 4%.
• The leading strategic investment segments were AI infrastructure and related technologies (12.4%), the semiconductor value chain (8.1%), and energy-transition technologies and services (7.8%).
• Strategic investment was concentrated in Europe (28.4%) and North America (28%), while developing Asia accounted for 5%.
• India implemented 1,416 industrial policies during 2008–2021, ranking behind China (4,201) and the United States (4,025).
• India implemented 707 industrial policy measures during 2022–2025; during this period, the United States, China, Australia and Brazil each implemented more industrial policies than India.
• According to the report, India’s GDP is projected to grow by 3% in 2026 and 6.8% in 2027, supported by domestic demand, manufacturing expansion and public infrastructure investment.
• India’s household consumption growth is estimated at 9% in 2026 and 5.6% in 2027, supporting economic growth despite the country’s substantial dependence on oil imports.
• The report highlights the growing use of industrial, trade, financial and technology policies by governments to pursue economic and national security objectives.
• Artificial intelligence products, particularly advanced computing equipment deployed in new data centres, have emerged as a major driver of merchandise trade, with 82% of value added accruing to four supplier segments in this category.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Prakash Rajpurohit Appointed as Deputy Election Commissioner Until 8 April 2030

• The Government of India appointed Prakash Rajpurohit, a 2010-batch IAS officer of the Rajasthan cadre, as Deputy Election Commissioner (DEC), replacing Sanjay Kumar, with his tenure until 8 April 2030.
• Prakash Rajpurohit previously served as Joint Secretary in the Department of Defence Production and Director in the Department of Economic Affairs.
• Vivek Khare, a 1996-batch Indian Telecom Service officer, was appointed Joint Secretary to the National Testing Agency (NTA), with his overall tenure extending until 2 December 2029.
• The NTA restructuring follows the recommendations of the Radhakrishnan Committee (October 2024), which called for strengthening the agency’s permanent workforce and accountability.
• The Election Commission of India (ECI) is a constitutional body established under Article 324 of the Constitution of India.
• The Appointments Committee of the Cabinet (ACC) approved the appointments of 27 civil servants at Joint Secretary and equivalent levels as part of a major bureaucratic reshuffle.

Other Appointments :

• Ravi Shankar, Chittaranjan Dash, Manoj Kumar and Abhishek Bhagotia were appointed Joint Secretaries in the Ministry of Home Affairs.
• Mohammed Y. Safirulla K. and Ritu Sharma were appointed Joint Secretaries in the Department of Health and Family Welfare.
• Varnali Deka, a 2009-batch IAS officer of the Assam–Meghalaya cadre, was appointed Joint Secretary, National Health Authority (NHA).
• Ashish Madhaorao More was appointed Additional Chief Executive Officer (Joint Secretary level) of the National Health Authority.
• Nikhil Varma was appointed Additional Director General of Foreign Trade, Delhi.
• Tanvi Sundriyal was appointed Joint Secretary, Ministry of Corporate Affairs, while Inderjeet Singh was appointed Joint Secretary, Ministry of Culture.
• Tamboli Ayyaj Fakirbhai was appointed Executive Director (Joint Secretary level), Insurance Regulatory and Development Authority of India (IRDAI).
• Rajesh Malik was appointed Executive Director, Food Corporation of India (FCI), while Navin Agarwal was appointed Joint Secretary, Department of Legal Affairs.
• Brijesh Pandey was appointed Joint Secretary, Department of Capital Development, and Ramachandrudu was appointed Joint Secretary, Ministry of Minority Affairs.
• Sonia Pant was appointed Adviser (Joint Secretary level), NITI Aayog.
• Nitin Kumar was appointed Additional Secretary (Joint Secretary level), Central Vigilance Commission (CVC).
• Muruganas was appointed Joint Secretary, Ministry of Road Transport and Highways.
• Rajneesh Kumar Tomar was appointed CEO, National Highways Logistics Management Limited (NHLML).
• Nishtha Tiwari was appointed CEO, Development and Welfare Board for Denotified, Nomadic and Semi-Nomadic Communities, under the Department of Social Justice and Empowerment.
• Manisha Trighatia was appointed Joint Secretary, Department of Urban Development.
• Avinash Jain was appointed Joint Secretary, Department of Water Resources, River Development and Ganga Rejuvenation.
• Pawan Kumar was appointed Joint Secretary, National River Conservation Directorate (NRCD).
• Anita Shah Akella was appointed Joint Secretary, National Commission for Women (NCW).
• In a separate order dated 9 October 2026, the ACC approved the premature repatriation of Govind Jaiswal, Joint Secretary in the Department of Higher Education, to his parent cadre.
• Govind Jaiswal is a 2007-batch IAS officer of the AGMUT cadre, which comprises Arunachal Pradesh, Goa, Mizoram and Union Territories.

Meta Appoints Chirantan “CJ” Desai to Head Enterprise Platform, Reporting to Mark Zuckerberg

• Meta appointed Chirantan “CJ” Desai to lead its Meta Enterprise Platform, reporting directly to Mark Zuckerberg, CEO of Meta.
• Chirantan Desai previously served as President and CEO of MongoDB, a database software provider, having assumed the role in November 2025, succeeding Dev Ittycheria.
• Desai’s appointment is aimed at strengthening Meta’s enterprise software, artificial intelligence (AI), cloud infrastructure, cybersecurity and business applications.
• Meta Enterprise Platform is being developed as a new major business pillar to convert Meta’s AI and infrastructure capabilities into commercial products for businesses.
• Meta’s Enterprise Platform includes Muse AI, a personal AI agent, Meta Business Agent and other coding tools.
• Meta launched Muse, its personal AI agent, less than a month before Desai’s appointment, and it reportedly gained popularity on Apple and Android app stores.
• Chirantan Desai is Indian-born and has built much of his career in the US technology industry.
• Desai has held senior positions at EMC, ServiceNow, Cloudflare and MongoDB, gaining experience in enterprise technology and software development.
• At ServiceNow, Desai’s responsibilities covered product development, platform, AI, design, engineering, cloud infrastructure and customer success.

CURRENT AFFAIRS: AWARDS AND HONOURS

Sunil Bharti Mittal Conferred France’s Highest Civilian Honour, Legion of Honour

• Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, has been conferred Chevalier de l’Ordre national de la Légion d’honneur (Knight of the National Order of the Legion of Honour), the highest civilian honour of France, by French President Emmanuel Macron.
• Established in 1802 by Napoleon Bonaparte, the Legion of Honour is the highest civilian distinction bestowed by the French Republic.

Key Highlights

• Mittal received the honour in recognition of his longstanding contribution to strengthening economic relations between India and France and his achievements in telecommunications and digital infrastructure.
• The insignia is scheduled to be presented at a ceremony on 28 October 2026 at the Embassy of France in India, New Delhi.
• Previous honours received by Sunil Bharti Mittal:
• 2007: Conferred the Padma Bhushan, one of India’s highest civilian honours.
• 2024: Became the first Indian citizen to receive the Knight Commander of the Most Excellent Order of the British Empire (KBE) from King Charles III.

Robert E. Hall and Michael Woodford Win 2026 Nobel Memorial Prize in Economic Sciences

• American economists Robert E. Hall and Michael Woodford won the 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work on the microeconomic foundations of macroeconomic stabilisation.
• Robert E. Hall is affiliated with Stanford University, California, while Michael Woodford is affiliated with Columbia University, New York.
• The award was announced by the Royal Swedish Academy of Sciences in Stockholm, Sweden, on 12 October 2026.

Key Highlights

• John Hassler, Chair of the Committee for the Prize in Economic Sciences, stated that the laureates had provided a stable theoretical foundation for economic models currently used by central banks and governments worldwide.
• Their work has strengthened the theoretical basis for macroeconomic stabilisation policies.
• The award is formally known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, commonly referred to as the Nobel Memorial Prize in Economic Sciences.
• The Sveriges Riksbank, Sweden's central bank, established the prize in 1968 as a memorial to Alfred Nobel, the 19th-century Swedish businessman and chemist who invented dynamite and established the original five Nobel Prizes. The Economics Prize was first awarded in 1969.
• Although commonly called the Nobel Prize in Economics, it is technically distinct from the five original Nobel Prizes. However, it is presented alongside them on 10 December, the anniversary of Alfred Nobel's death in 1896.
• In 2025, three researchers received the Economics Prize for their work explaining how business innovation, new products and inventions contribute to economic growth and human welfare, even as older companies may lose their market positions.
• The prize money for 2026 amounts to 12 million Swedish kronor (approximately US$1.2 million), to be shared equally between the two laureates.
• The other Nobel Prizes announced during the preceding week covered Physiology or Medicine, Physics, Chemistry, Literature and Peace.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Launches Next Generation Offshore Patrol Vessel ‘Shreyas’ (Yard 3040) at Garden Reach Shipbuilders & Engineers, Kolkata

• Yard 3040, named ‘Shreyas’, a Next Generation Offshore Patrol Vessel (NGOPV), was launched on 10 October 2026 at Garden Reach Shipbuilders & Engineers (GRSE), Kolkata.
• The vessel was launched by Mrs Reyman Kochhar in the presence of Vice Admiral Ajay Kochhar, Vice Chief of the Naval Staff (VCNS).
• Senior dignitaries from the Indian Navy, Ministry of Defence, GRSE, and industry partners attended the launch ceremony.
• The construction of Next Generation Offshore Patrol Vessels (NGOPVs) is being undertaken concurrently at two shipyards: GRSE, Kolkata, West Bengal, and Goa Shipyard Limited (GSL), Goa.
• These indigenously designed and built vessels will augment the Indian Navy’s existing Offshore Patrol Vessels (OPVs) and New Offshore Patrol Vessels (NOPVs).
• The NGOPVs will support maritime surveillance, search and rescue (SAR), protection of offshore assets, Humanitarian Assistance and Disaster Relief (HADR), and anti-piracy missions.
• The name ‘Shreyas’ is derived from Sanskrit and means ‘Best’ or ‘Most Excellent’.
• The launch marks an important milestone in the Indian Navy’s indigenous shipbuilding efforts and supports the Government of India’s ‘Aatmanirbhar Bharat’ and ‘Make in India’

Defence Correspondents Course for 24 Journalists Concludes at Tezpur After Navy, Air Force and Army Training

• The Defence Correspondents Course, comprising 24 journalists, concluded at Tezpur after completing its Navy, Air Force, and Army training legs.
• The course lasted three weeks and aimed to familiarise journalists with the roles, capabilities, and operational environments of India’s three Defence Services.
• The participating journalists gained insights into the functioning of the Defence Forces through briefings, field visits, and interactions with military personnel.
• The course strengthened mutual understanding between the Defence Forces and the media, promoting public awareness while respecting operational sensitivities and national security considerations.
• The valedictory function was chaired by Lieutenant General Neeraj Shukla, General Officer Commanding (GOC), Gajraj Corps.
• Shri Vijay Kumar, Additional Director General (Media & Communication), Ministry of Defence, attended the valedictory function.
• Officials from the Directorate of Public Relations (DPR) also attended the event.

Rajnath Singh Presents SIDM Champion Awards 2026, Urges Increased Private Sector Participation, R&D and Defence Production Capacity

• Raksha Mantri Rajnath Singh presented the SIDM Champion Awards 2026 at the 8th Annual Session of the Society of Indian Defence Manufacturers (SIDM) in New Delhi on 9 October 2026.
• A total of 15 Champion Awards were presented to recognise achievements in indigenous technology development, product innovation, design, import substitution, manufacturing excellence, and defence exports.
• The theme of the 8th Annual Session was “Sovereign Capabilities, Contested Frontiers: Accelerating India’s Strategic Autonomy in an Era of Disruption.”
• Rajnath Singh emphasised that national security depends on India’s ability to design, develop, manufacture, and control critical defence technologies and equipment.
• India’s defence exports reached a record ₹38,424 crore in FY 2025–26, registering over 60% growth compared with the previous financial year.
• The Government has set a target of achieving ₹50,000 crore in defence exports by 2029.
• The Raksha Mantri urged the private sector to increase its share in total defence production from approximately 24% to 50% to strengthen India’s self-reliance and strategic autonomy.
• He called upon the defence industry to strengthen research and development (R&D), expand production capacity, increase private-sector participation, and accelerate technological innovation.
• Established in 2017, SIDM represents large enterprises, Micro, Small and Medium Enterprises (MSMEs), startups, academia, and foreign Original Equipment Manufacturers (OEMs).
• Key government initiatives supporting India’s private defence industry include the Defence Acquisition Procedure (DAP), Defence Procurement Manual (DPM), Positive Indigenisation Lists, SRIJAN portal, and Innovations for Defence Excellence (iDEX).

Chief of Defence Staff General NS Raja Subramani Inaugurates Residential and Utility Infrastructure Under Project Seabird Phase IIA at Karwar

• General NS Raja Subramani, Chief of Defence Staff (CDS) and Secretary, Department of Military Affairs, inaugurated residential accommodation and critical utility and amenity infrastructure under Project Seabird Phase IIA at Naval Base, Karwar, Karnataka, on 8 October 2026.
• The inauguration took place in the presence of Vice Admiral Vivek Dahiya, Director General Seabird, and other senior officers.
• The residential facilities at East of Manzil Creek (EOMC) and Amadalli include 60 dwelling units (DUs) for Senior Sailors, 60 DUs for Naval Defence Civilians, accommodation for 156 Defence Security Corps (DSC) personnel, and a Kindergarten (KG) School.
• The residential buildings were constructed by NCC Limited, Hyderabad, while the trunk infrastructure was constructed by Cemindia Projects India Limited.
• Project Seabird Phase IIA aims to support the basing of ships and submarines at Karwar and includes a dual-use Naval Air Station, a full-fledged Naval Dockyard, and logistics facilities for ships and aircraft.
• The expanded Naval Base is expected to accommodate approximately 10,000 uniformed and civilian personnel and their families, boosting the local economy, industry, tourism, and employment opportunities in the Uttara Kannada region of Karnataka.
• The project follows the norms of the Ministry of Environment, Forest and Climate Change (MoEFCC) and the Indian Green Building Council (IGBC), with the completed project expected to receive an IGBC Gold rating.
• In line with Aatmanirbhar Bharat, more than 90% of the project’s materials and equipment are sourced domestically.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Dixon Technologies and Taiwan’s Gemtek Enter Joint Venture to Manufacture Telecom Products in India

• Dixon Technologies (India) Ltd. signed a Joint Venture (JV) agreement with Taiwan-based Gemtek Technology Co. Ltd. to manufacture and supply telecom and optical connectivity products in India.
• The joint venture will operate through Dixon Electroconnect Pvt. Ltd., a wholly owned subsidiary of Dixon Technologies, which will be converted into a JV through fresh equity subscriptions by both partners.
• Dixon Technologies will hold a 60% stake, while Gemtek Technology will hold the remaining 40% stake in the joint venture.
• The agreement specifies that neither company will acquire a direct equity stake in the other company.
• The JV will manufacture and supply Optical Transceiver–SFP (Small Form-Factor Pluggable) and BOSA (Bidirectional Optical Subassembly) products, along with other telecom products mutually agreed upon by the partners.
• The joint venture aims to meet rising demand driven by Artificial Intelligence (AI), cloud computing, edge computing, hyperscale data centres, high-speed networking, and next-generation optical communication.
• The JV’s board will comprise five directors, with Dixon Technologies nominating three directors, including the Chairman, and Gemtek Technology nominating two directors.
• The proposed transaction is expected to be completed by 3 February 2027.

About Dixon Technologies : 

• Founded : 1993
• Headquarters : Noida, Uttar Pradesh.
• Dixon Technologies is one of India’s leading homegrown Electronics Manufacturing Services (EMS)

Northeast Frontier Railway Uses Artificial Intelligence Alerts and Plan Bee System to Prevent Elephant–Train Collisions

• The Northeast Frontier Railway (NFR) saved 255 elephants from potential train collisions between January and September 2026 using Artificial Intelligence (AI)-based alerts, speed restrictions, enhanced patrolling, and the Plan Bee system.
• The NFR uses an AI-based Intrusion Detection System (IDS) powered by Distributed Acoustic System (DAS) technology to detect elephant movement near railway tracks and generate real-time alerts.
• Plan Bee is an innovative acoustic deterrent system developed by the Northeast Frontier Railway (NFR) to prevent wild elephants from straying onto railway tracks and being hit by trains.
• The Plan Bee system uses amplified honeybee buzzing sounds to discourage elephants from approaching railway tracks.
• The Plan Bee system has been installed at 56 vulnerable locations under NFR jurisdiction, particularly where railway lines pass through forests and elephant habitats.
• The buzzing sound produced by the Plan Bee system can reportedly be heard from approximately 400 metres away.

About Northeast Frontier Railway (NFR) :

• Headquarters :Maligaon, near Guwahati, Assam.
• The NFR operates across the Northeastern states of India, as well as seven districts of West Bengal and five districts of north Bihar.

CURRENT AFFAIRS: IMPORTANT DAYS

World Mental Health Day 2026 Observed on 10 October

• World Mental Health Day is observed annually on 10 October to raise awareness of mental health issues and promote efforts to support mental well-being worldwide.
• 2026 Theme: “Lived experiences heard: real voices, real change.” The theme highlights the importance of listening to people with lived experience of mental health conditions and using their voices to bring meaningful improvements in mental health care and support.
• Established by: The World Federation for Mental Health (WFMH), a non-governmental organisation established in 1948, initiated the observance.
• First observance: The first World Mental Health Day was observed on 10 October 1992, following an initiative announced by Richard Hunter, who was then the Deputy Secretary-General of the WFMH.
• Since 1994, a specific theme has been selected each year to focus global attention on different aspects of mental health.

World Sight Day 2026 Observed on 8 October

• World Sight Day is observed annually on the second Thursday of October to raise awareness about eye health and the prevention of vision impairment.
• 2026 Date: This year its falls on 8 October 2026.
• Theme: “Love Your Eyes.”
• First observance: Lions Clubs International partnered with blindness-prevention organisations worldwide to organise the first World Sight Day in 1998.
• World Sight Day later became part of VISION 2020: The Right to Sight, a global initiative coordinated by the International Agency for the Prevention of Blindness (IAPB).
• VISION 2020 was a joint initiative of the World Health Organization (WHO) and the IAPB, involving non-governmental organisations, professional associations, eye-care institutions and corporations.
• The day promotes awareness of preventable blindness and vision impairment and encourages people to prioritise eye health and access to eye-care services.

International Day of the Girl Child 2026 Observed on 11 October

• The International Day of the Girl Child is observed annually on 11 October to promote girls’ rights and address the challenges they face worldwide.
• 2026 Theme: “End child marriage and invest in girls' rights!”
• Background: In 1995, the Beijing Declaration and Platform for Action highlighted the rights of girls and called for gender equality and better opportunities for girls worldwide. It marked an important international commitment to advancing the rights and empowerment of girls.
• Establishment: Building on this global commitment, the United Nations General Assembly established the International Day of the Girl Child in 2011. The first observance took place on 11 October 2012.
• The day raises awareness of the issues and barriers faced by girls, promotes equal opportunities and encourages action to protect their rights and improve their access to education, healthcare and a life free from discrimination and violence.

Daily CA One- Liner: October 13

• Delhi Chief Minister Rekha Gupta and Lieutenant Governor Taranjit Singh Sandhu launched several healthcare initiatives under the ‘Seva Sankalp Abhiyan’.
• The Food Safety and Standards Authority of India (FSSAI) has certified Shri Ram Janmbhoomi Teerth Kshetra, Ayodhya, Uttar Pradesh, as an ‘Eat Right Place of Worship’ for maintaining adequate food safety and hygiene standards
• The National Human Rights Commission (NHRC), India, is celebrating its 33rd Foundation Day on 12 October 2026 at Vigyan Bhawan
• Ambaji Mohanthal Prasad, the traditional sweet offering of Ambaji Temple in Gujarat, received a Geographical Indication (GI) tag.
• Chief Justice of India Surya Kant constituted a Standing Committee on Judicial Well-being under the aegis of the Supreme Court of India on the occasion of World Mental Health Day, observed on 10 October
• Sunil Bharti Mittal, Founder and Chairman of Bharti Enterprises, has been conferred Chevalier de l’Ordre national de la Légion d’honneur (Knight of the National Order of the Legion of Honour), the highest civilian honour of France, by French President Emmanuel Macron
• American economists Robert E. Hall and Michael Woodford won the 2026 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for their work on the microeconomic foundations of macroeconomic stabilisation.
• World Mental Health Day is observed annually on 10 October to raise awareness of mental health issues and promote efforts to support mental well-being worldwide
• World Sight Day is observed annually on the second Thursday of October to raise awareness about eye health and the prevention of vision impairment
• The International Day of the Girl Child is observed annually on 11 October to promote girls’ rights and address the challenges they face worldwide.
• The Institute of Economic Growth (IEG), in partnership with the Ministry of Finance, Government of India, successfully organised the Fifth Kautilya Economic Conclave (KEC 2026) from 3–5 October 2026 in New Delhi.
• The Securities and Exchange Board of India (SEBI) notified the Settlement Regulations, 2026, on 6 October 2026 to simplify settlement procedures and make them more transparent, predictable and less discretionary.
• Federal Bank Limited launched ‘Verto’, a premium savings account offering integrated financial solutions for young professionals and entrepreneurs.
• The World Bank (WB) supported the Government of Kerala’s proposal to establish a Carbon Credit Cell under the Department of Agriculture to promote sustainable farming and increase farmers’ income.
• The Reserve Bank of India (RBI) sold ₹50,000 crore worth of Government Securities (G-Secs) through an Open Market Operation (OMO) sale auction to absorb surplus liquidity from the banking system.
• According to SBI Research, Indian banks mobilised approximately USD 127 billion through the Foreign Currency Non-Resident (Bank) [FCNR(B)] deposit scheme, potentially generating a notional profit of around ₹5 trillion over five years.
• According to a report by CRIF High Mark, India’s Micro, Small and Medium Enterprises (MSME) credit portfolio grew 5% year-on-year to ₹47.4 trillion as of June 2026.
• According to the Trade and Development Report 2026, published by the United Nations Trade and Development (UNCTAD), India accounted for 7% of global greenfield investment during 2020–2025, more than double China’s share of 2.8%.
• The Government of India appointed Prakash Rajpurohit, a 2010-batch IAS officer of the Rajasthan cadre, as Deputy Election Commissioner (DEC), replacing Sanjay Kumar, with his tenure until 8 April 2030.
• Meta appointed Chirantan “CJ” Desai to lead its Meta Enterprise Platform, reporting directly to Mark Zuckerberg, CEO of Meta.
• Yard 3040, named ‘Shreyas’, a Next Generation Offshore Patrol Vessel (NGOPV), was launched on 10 October 2026 at Garden Reach Shipbuilders & Engineers (GRSE), Kolkata.
• The Defence Correspondents Course, comprising 24 journalists, concluded at Tezpur after completing its Navy, Air Force, and Army training legs.
• Raksha Mantri Rajnath Singh presented the SIDM Champion Awards 2026 at the 8th Annual Session of the Society of Indian Defence Manufacturers (SIDM) in New Delhi on 9 October 2026.
• General NS Raja Subramani, Chief of Defence Staff (CDS) and Secretary, Department of Military Affairs, inaugurated residential accommodation and critical utility and amenity infrastructure under Project Seabird Phase IIA at Naval Base, Karwar, Karnataka, on 8 October 2026.
• Dixon Technologies (India) Ltd. signed a Joint Venture (JV) agreement with Taiwan-based Gemtek Technology Co. Ltd. to manufacture and supply telecom and optical connectivity products in India.
• The Northeast Frontier Railway (NFR) saved 255 elephants from potential train collisions between January and September 2026 using Artificial Intelligence (AI)-based alerts, speed restrictions, enhanced patrolling, and the Plan Bee system.