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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Finance Ministry Sets 1 November 2026 for Goods and Services Tax Amendments on Post-Supply Discounts and Refunds

• The Ministry of Finance has notified 1 November 2026 as the effective date for amendments under the Finance Act, 2026, relating to post-supply discounts, provisional GST refunds under the Inverted Duty Structure (IDS), and export refunds.
• The amendments were announced in the Union Budget 2026–27, passed under the Finance Act, 2026, and approved by the GST Council.
• The amendments aim to simplify GST compliance, provide relief to businesses, accelerate refunds and improve working capital availability.
• The amendment to post-supply discounts removes the requirement that such discounts must be established through an agreement entered into before or at the time of supply.
• Under the amended rules, post-supply discounts can be excluded from the value of supply if the supplier issues a credit note and the recipient reverses the corresponding Input Tax Credit (ITC), subject to applicable conditions.
• Section 34(1) of the Central Goods and Services Tax (CGST) Act, 2017, has been amended to recognise credit notes issued for discounts covered under Section 15(3)(b), aligning credit note provisions with GST valuation rules.
• The changes are expected to benefit industries such as Fast-Moving Consumer Goods (FMCG), pharmaceuticals, retail and consumer durables, where dealer rebates, turnover-based incentives and sales-target discounts are common.
• Under the amended Inverted Duty Structure (IDS) refund rules, eligible registered businesses can receive up to 90% of the claimed refund amount provisionally, subject to applicable conditions and verification.
• The provision allows eligible provisional refunds to be issued within seven days, helping businesses access working capital more quickly.
• Inverted Duty Structure (IDS) refers to a situation in which the GST rate on inputs is higher than the GST rate on output supplies, potentially leading to accumulated input tax credit.
• The amendments remove the minimum refund threshold of ₹1,000 for eligible goods exported outside India with payment of tax, allowing eligible exporters to claim refunds below the earlier threshold.

PB Money Receives Securities and Exchange Board of India Approval as an Online Bond Platform Provider to Boost Retail Bond Investments

• PB Money has received an Online Bond Platform Provider (OBPP) licence from the Securities and Exchange Board of India (SEBI) to simplify bond investments and expand access to fixed-income products for retail investors.
• The OBPP licence enables PB Money to manage the end-to-end bond investment process, including investor onboarding, Know Your Customer (KYC) verification, bond discovery, evaluation, order placement, payment coordination and post-investment services.
• The platform allows investors to compare bonds based on yield, credit rating and investment amount, helping them make informed investment decisions.
• PB Money is registered as a stockbroker in the debt segment of the National Stock Exchange of India (NSE), enabling investors to access bond offerings and trade secondary-market bonds and debentures.
• PB Money has partnered with Paisabazaar, allowing investors to explore bond offerings on the Paisabazaar platform and complete their transactions through PB Money.
• The partnership aims to expand access to bond investments among a wider range of consumer segments and simplify the overall investment experience.

About PB Money :

• Incorporated : 2008
• Headquarters : Gurugram, Haryana.
• CEO : Vishwajeet Goel
• PB Money is operated by PB Marketing and Consulting Private Limited, a wholly owned subsidiary of PB Fintech Limited.

India’s Soybean Imports Surge to an All-Time High of 1.1 Million Tonnes in 2025–26

• India’s soybean imports reached a record 1 million metric tonnes in the 2025/26 marketing year, compared with approximately 2,000 tonnes in the previous year.
• The sharp increase in imports was driven by a rally in domestic soybean prices, which encouraged Indian mills to increase overseas purchases.
• The Soybean Processors Association of India (SOPA) provided data on India’s soybean imports.
• India permits imports only of non-genetically modified (non-GM) soybeans, restricting supply to a limited number of African countries.
• The major African soybean suppliers to India include Benin, Niger, Togo and Nigeria.
• Niger emerged as India’s largest soybean supplier in 2025/26, with estimated shipments exceeding 430,000 tonnes during the marketing year ended 30 September 2026.
• Indian customs authorities investigated soybean imports declared as originating in Niger over suspicions that some shipments originated in Nigeria and were mislabelled to evade import tariffs.
• India’s soymeal exports fell by 50% in 2025/26 to approximately 1 million tonnes.

CURRENT AFFAIRS : INTERNATIONAL NEWS

International Union for Conservation of Nature Assessment Finds 96% of Evaluated Coral Reef Ecosystems Critically Endangered, with Collapse Projected by 2075

• The International Union for Conservation of Nature (IUCN) released the first global coral reef assessment under the Red List of Ecosystems (RLE) at the 17th Conference of the Parties (COP17) to the Convention on Biological Diversity (CBD) in Yerevan, Armenia.
• According to the assessment, 96% of the shallow-water coral reef ecosystems assessed have been classified as Critically Endangered (CR) and are expected to collapse by 2075.
• The assessment covers coral reef ecosystems in warm, shallow waters across 127 tropical and subtropical ecoregions.
• The assessment encompasses 188,362 square kilometres of coral reefs across more than 80 countries and territories.
• The IUCN assessed each ecoregion against five criteria: reduction in distribution, restricted distribution, environmental degradation, disruption of biotic processes and quantitative risk analysis.
• Out of the 127 coral reef ecosystems assessed, four were classified as Data Deficient (DD) because insufficient scientific data were available to accurately evaluate their risk of collapse.
• The Great Barrier Reef in Australia, the Coral Triangle in the western Pacific Ocean and Southeast Asia, the Mesoamerican Barrier Reef System and the Red Sea coral reefs were classified as Critically Endangered, indicating an extremely high level of threat.
• The Red List of Ecosystems (RLE) is an IUCN framework used to assess the risk of ecosystem collapse. Critically Endangered (CR) and Data Deficient (DD) are assessment categories used to describe ecosystem threat status and gaps in available evidence.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

President Droupadi Murmu Gives Assent to Frontier Nagaland Territorial Authority Bill 2026

• President Droupadi Murmu gave her assent to the Frontier Nagaland Territorial Authority (FNTA) Bill 2026, which was unanimously passed by the Nagaland Legislative Assembly on 3 September 2026.

Key Highlights

• Nagaland Chief Minister Neiphiu Rio announced the President’s assent through a post on the social media platform X.
• Chief Minister Neiphiu Rio thanked President Droupadi Murmu for granting assent and expressed gratitude to the Union Ministry of Home Affairs for coordinating the process.
• The Chief Minister described the development as an important step towards fulfilling the aspirations of the people of Eastern Nagaland.

Chhattisgarh Selects Orange Oakleaf as Its First State Butterfly

• Chhattisgarh has selected the Orange Oakleaf (Kallima inachus) as its proposed first official state butterfly.
• The proposal was finalised at the 15th meeting of the State Wildlife Board and forwarded to the State Government for formal notification.
• The butterfly was selected through an online public voting process conducted from 31 July to 31 August 2026. A total of 5,813 people participated, and the Orange Oakleaf secured 3,000 votes.

Key Highlights

• The other shortlisted species were the Common Banded Peacock, which received 1,606 votes and finished second, and the Spot Swordtail, which received 1,207 votes and finished third.
• An expert committee shortlisted the three species based on their ecological significance, ease of identification and presence in Chhattisgarh.
• The Orange Oakleaf is known for its distinctive camouflage. When its wings are closed, it resembles a dry or withered leaf, helping it conceal itself from predators.
• When its wings are spread, it displays striking shades of deep orange, dark blue and jet-black.
• A statewide survey conducted in 2025 recorded 201 butterfly species in Chhattisgarh, highlighting the state’s butterfly diversity.
• Following formal notification, Chhattisgarh would become the ninth Indian state to designate an official state butterfly.
• The eight states already identified in the source are Maharashtra, Karnataka, Kerala, Tamil Nadu, Goa, Uttarakhand, Arunachal Pradesh and Madhya Pradesh.
• The Orange Oakleaf is also the state butterfly of Madhya Pradesh.

About Chhattisgarh:

• Chief Minister: Vishnu Deo Sai
• Governor: Ramen Deka
• Capital: Raipur
• National Parks: Indravati, Kanger Valley, Guru Ghasidas National Parks
• Wildlife Sanctuaries: Achanakmar, Barnawapara, Udanti Wild Buffalo, Sitanadi Wildlife Sanctuaries

Union Cabinet Approves 3% Increase in Dearness Allowance and Dearness Relief for Central Government Employees and Pensioners

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved an additional 3% instalment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners, effective from 1 July 2026.

Key Highlights

• Following the increase, DA and DR will rise from 60% to 63% of Basic Pay and Pension, respectively.
• The increase aims to compensate employees and pensioners for the impact of rising prices.
• The combined annual financial impact of the increase on the government exchequer is estimated at ₹10,016.10 crore.
• The decision is expected to benefit approximately 48.54 lakh Central Government employees and 68.71 lakh pensioners.
• The increase has been approved in accordance with the accepted formula based on the recommendations of the 7th Central Pay Commission (CPC).

Union Cabinet Approves Container Manufacturing Promotion Scheme with an Outlay of ₹10,000 Crore

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Container Manufacturing Promotion Scheme (CMPS) with a budgetary outlay of ₹10,000 crore up to Financial Year 2039–40.
• Announced in the Union Budget 2026–27, the scheme aims to establish a globally competitive container manufacturing ecosystem in India, reduce import dependence and strengthen supply-chain resilience.
• The scheme will support both greenfield manufacturing facilities (new facilities) and brownfield expansion (expansion of existing facilities) to increase domestic container manufacturing capacity and improve the competitiveness of Indian manufacturers.

Key Highlights

• The scheme has three major components:
• Interest Subvention Assistance (ISA): With an allocation of ₹859 crore, it will provide interest subvention of 3% per annum on eligible term loans for establishing new container manufacturing facilities and expanding existing manufacturing capacity.
• Operational Expenditure Assistance (OEA): With an allocation of ₹8,891 crore, it will provide financial assistance for containers manufactured by eligible manufacturers in accordance with global shipping standards and sold in the market.
• The assistance is intended to bridge the cost gap and improve the competitiveness of domestically manufactured containers.
• Testing and Certification Assistance: With an allocation of ₹150 crore, it will support the establishment of common testing facilities, including facilities for dynamic longitudinal impact testing, to strengthen testing and certification capabilities.
• The scheme aims to increase India’s annual domestic container manufacturing capacity by approximately ten-fold, to 7.5 lakh Twenty-foot Equivalent Units (TEUs).
• It seeks to establish an internationally competitive manufacturing base and create the potential for India to become a global export hub for quality shipping containers.
• The scheme is expected to strengthen the resilience of India’s maritime and logistics supply chains by increasing domestic manufacturing capacity and reducing reliance on imported containers.
• It is estimated to generate around 3,000 direct jobs and more than 50,000 indirect jobs. It will also support ancillary industries involved in producing corner castings, specialised steel, wooden frames and paints.
• Overall, CMPS aims to develop domestic manufacturing capabilities, improve cost competitiveness, support employment and strengthen India’s position in global shipping-container supply chains.

Ministry of Statistics and Programme Implementation Proposes Major Changes to Annual Survey of Unincorporated Sector Enterprises 2027–28

• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) has proposed changes to the schedule of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2027–28 to improve its policy relevance and address emerging data requirements.
• ASUSE has been conducted since 2021–22 to generate comprehensive statistical information on India’s unincorporated non-agricultural sector, which contributes significantly to employment, gross value added, livelihoods and economic activity through its linkages with the incorporated sector.
• The proposed changes have been developed based on stakeholder feedback received during ASUSE 2026, consultations with stakeholder Ministries, Data User Conferences, expert-group discussions and the NSO’s internal assessment of survey requirements.
• Gender-specific constraints: For the first time, questions will be introduced to capture the constraints faced by female entrepreneurs in operating and managing their establishments. The information will help analyse challenges faced by female-led enterprises and inform policy discussions on women’s participation in economic activity.
• Sources of electricity: Additional questions will capture the different electricity sources used by establishments, providing a more comprehensive understanding of energy-use patterns and operating conditions across activities in the unincorporated sector.
• Investment in fixed assets: A new question will collect information on fixed-asset investment over a longer reference period than the existing schedule. This will provide broader insights into establishments’ investment trajectories, investment behaviour and business outlook.
• Handloom, power-loom and handicraft establishments: At the request of the Ministry of Textiles, two questions will be added to identify establishments engaged in handloom, power-loom and handicraft activities.
• This will improve the availability of granular data on these traditional and economically significant segments.
• Shift to the financial-year survey cycle: ASUSE will move from the calendar year (January–December) to the financial year (April–March). Accordingly, ASUSE 2027–28 is proposed to be conducted from April 2027 to March 2028, aligning its reference period with surveys such as the Annual Survey of Industries (ASI) and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE).
• This is expected to improve the usefulness of ASUSE data for National Accounts
• Continuity of quarterly estimates: To prevent a break in the quarterly statistical series for January–March 2027, the survey will also be conducted during that quarter using the existing ASUSE 2026 schedule. The new survey cycle will begin in April 2027 under ASUSE 2027–28.
• Improved sampling and classifications: The survey will continue with its revamped sampling design, which enables the generation of district-level estimates by participating States, and the use of globally accepted classifications.
• Digital data collection: ASUSE will continue to use Computer-Assisted Personal Interviewing (CAPI) systems for data collection to support systematic and efficient information gathering.
• Information and Communication Technology (ICT) block: The policy-oriented ICT section will continue to cover the establishment’s presence in e-commerce marketplaces and the use of digital payment instruments, including Unified Payments Interface (UPI), Bharat Interface for Money (BHIM), mobile wallets and Point of Sale (POS) devices.
• Quarterly dissemination: Survey findings will continue to be published through the Quarterly Bulletin of Unincorporated Sector Enterprises (QBUSE) to provide timely information on developments in the sector.
• Public consultation: The detailed establishment schedule for ASUSE 2027–28 has been made available on the official MoSPI website for comments and suggestions from policymakers, stakeholder Ministries, researchers, data users and other interested stakeholders.
• Feedback deadline: Comments and suggestions in the prescribed format may be submitted by 15 November 2026 to [email protected] and [email protected]. The draft questionnaire and feedback format are accessible through the official website: https://www.mospi.gov.in.
• Stakeholder feedback will help MoSPI assess the proposed information requirements and improve the relevance, comprehensiveness and policy utility of ASUSE 2027–28.

About Ministry of Statistics and Programme Implementation:

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

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ministry of Home Affairs Assigns Additional Charge of Indo-Tibetan Border Police Director General to =Sashastra Seema Bal Chief Sanjay Singhal

• The Ministry of Home Affairs (MHA) assigned the additional charge of Director General (DG) of the Indo-Tibetan Border Police (ITBP) to Sanjay Singhal, Director General of the Sashastra Seema Bal (SSB).
• The appointment was approved on 27 October 2026 and will take effect from 31 October 2026.
• Sanjay Singhal is a 1993-batch Indian Police Service (IPS) officer belonging to the Uttar Pradesh cadre.
• He will succeed Shatrujeet Singh Kapoor, a 1990-batch IPS officer of the Haryana cadre, who is scheduled to retire on 31 October 2026.
• The ITBP guards India’s 3,488-kilometre border with China.
• The SSB guards India’s international borders with Nepal and Bhutan.
• The appointment involves Sanjay Singhal holding additional charge of ITBP DG while continuing as the DG of SSB.

Air Marshal Vikram Gaur Appointed Additional Secretary in the Department of Military Affairs (DMA)

• Air Marshal Vikram Gaur was appointed Additional Secretary in the Department of Military Affairs (DMA) under the Ministry of Defence (MoD) in October 2026, becoming the first Indian Air Force (IAF) officer to hold this position.
• Before his appointment, he served as Joint Secretary (Air and Staff Duties) in the DMA from October 2024 and was promoted to Air Marshal in July 2026.
• Air Marshal Vikram Gaur was commissioned into the IAF’s Flying Branch on 15 December 1990 after graduating from the National Defence Academy (NDA).
• He has accumulated more than 3,200 flying hours on fighter aircraft, including the Su-30MKI, and is qualified as a flying instructor and instrument-rating instructor and examiner.
• As a Wing Commander, he commanded 20 Squadron, a frontline Su-30MKI unit based in Pune, from November 2008 to December 2010.
• He served as India’s Air Attaché in Kabul, Afghanistan, from 2015 to 2018 and later as Air Officer Commanding of No. 40 Wing at Maharajpur, Gwalior.
• His other assignments included roles at Air Headquarters in Air Staff Requirements and C4ISR (Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance).
• From December 2023 to October 2024, he served as Air Officer Commanding for Jammu and Kashmir and Ladakh.
• His honours include the Vishisht Seva Medal (VSM) in 2013, the Ati Vishisht Seva Medal (AVSM) in 2021, and a Chief of the Air Staff Commendation in 2003.
• He also participated in Operation Safed Sagar, the Indian Air Force operation during the 1999 Kargil conflict.
• The Department of Military Affairs (DMA) was established in 2020, with the Chief of Defence Staff (CDS) serving as its Secretary.

CURRENT AFFAIRS : DEFENCE NEWS

11th India–Indonesia Joint Special Forces Exercise GARUDA SHAKTI 2026 Begins in Banyuwangi, Indonesia

• The 11th edition of the India–Indonesia Joint Special Forces Exercise GARUDA SHAKTI 2026 commenced at Banyuwangi, Indonesia.
• Exercise GARUDA SHAKTI 2026 is being conducted from 27 October to 6 November 2026 to strengthen bilateral defence cooperation and operational interoperability between India and Indonesia.
• The Indian contingent comprises troops from the Parachute Regiment (Special Forces), while the Indonesian contingent comprises personnel from the Indonesian Special Forces.
• The primary objective of the exercise is to enhance mutual understanding, cooperation and interoperability between the Special Forces of both countries.
• The exercise focuses on joint special operations training in jungle environments, including the exchange of tactics, techniques and procedures.
• The training activities include obstacle crossing, combat marksmanship, mountaineering, air assault training and combat-hardening sessions.
• The exercise also facilitates the exchange of expertise and information on weapons, equipment and operational practices.
• The joint training will culminate in a validation exercise involving realistic operational scenarios to assess the endurance, coordination and combat readiness of both contingents.
• The 10th edition of Exercise GARUDA SHAKTI was held from 3 to 12 December 2025 at the Special Forces Training School (SFTS), Bakloh, Himachal Pradesh, India.
• The first edition of the India–Indonesia Joint Special Forces Exercise GARUDA SHAKTI was held in 2012 in India.

Raksha Rajya Mantri Sanjay Seth to Inaugurate VISV-2026 to Highlight India’s Indigenous Defence Technologies and International Partnerships

• Raksha Rajya Mantri Sanjay Seth will inaugurate VISV-2026 on 30 October 2026 at the Manekshaw Centre, New Delhi.
• VISV-2026 stands for Vision, Innovation, Synergy, Values and is being organised by the Defence Research and Development Organisation (DRDO) in collaboration with the Centre for Joint Warfare Studies (CENJOWS).
• The theme of VISV-2026 is “Showcasing Defence Capabilities, Strengthening Global Partnerships.”
• The event aims to showcase India’s indigenous defence technology capabilities and strengthen engagement with friendly partner nations.
• VISV-2026 will bring together representatives from the defence establishment, industry, academia and diplomatic community to highlight India’s progress in defence research, development and production.
• The event will explore opportunities for technology-led cooperation, strategic partnerships, joint collaboration and capability development between India and friendly partner nations.
• The deliberations will highlight India’s efforts to strengthen indigenous defence capabilities, expand international partnerships and promote defence production, technological innovation and defence diplomacy.
• The technical sessions will cover DRDO’s capabilities in aeronautical systems; land and naval systems; sensing and communications; missile systems; microelectronics; computational solutions; and soldier support systems.
• A panel discussion will explore mutually beneficial partnerships and opportunities for joint collaboration and defence capability development between India and friendly partner nations.
• Through VISV-2026, DRDO aims to promote technological self-reliance and strengthen international defence partnerships through innovation, dialogue and cooperation.

 CURRENT AFFAIRS: AWARDS AND HONOURS

Harry Kane Wins First Ballon d’Or as Alexia Putellas Claims Third Women’s Ballon d’Or

• England captain Harry Kane won the men’s Ballon d’Or for the first time, becoming the first Englishman in 25 years to receive football’s top individual honour. Spain’s Alexia Putellas won the Women’s Ballon d’Or for the third time.
• Harry Kane, a 33-year-old striker for Bayern Munich, finished ahead of Kylian Mbappé of France and Real Madrid, while Lamine Yamal of Spain and Barcelona finished third.

Key Highlights

• Kane scored 73 goals for club and country during the 2025–26 season, including 61 goals for Bayern Munich. He helped Bayern retain the Bundesliga title and became the German league’s leading scorer for the third consecutive season.
• Kane became the first Englishman to win the Ballon d’Or since Michael Owen in 2001 and the fifth English player overall to receive the award.
• Kane also won the men’s Gerd Müller Trophy, awarded to the season’s leading striker. Charlyn Corral of Mexico and Pachuca won the women’s Gerd Müller Trophy.
• Alexia Putellas won the Women’s Ballon d’Or for the third time after helping Barcelona enjoy a successful season before joining London City Lionesses. She had previously won the award in 2021 and 2022.
• Lamine Yamal of Barcelona won the men’s Kopa Trophy for young players for the third consecutive year, while Barcelona’s Vicky López won the women’s Kopa Trophy.
• Unai Simón of Spain won the men’s Yashin Trophy for the best goalkeeper, while Cata Coll of Barcelona and Spain received the women’s award.
• Luis de la Fuente, coach of Spain’s men’s national team, was named Men’s Coach of the Year, while Pere Romeu of Barcelona won the Women’s Coach of the Year award.
• Paris Saint-Germain won the Men’s Club of the Year award, while Barcelona received the Women’s Club of the Year award.
• Bukayo Saka, the England and Arsenal winger, received the Sócrates Award, which recognises footballers for their humanitarian work and social initiatives.
• The ceremony was held at the London Palladium to mark the 70th anniversary of the Ballon d’Or. It was the first time the ceremony was held in London, paying tribute to England’s Stanley Matthews, the inaugural winner in 1956.
• The Ballon d’Or was established by France Football in 1956 and has been co-organised with the Union of European Football Associations (UEFA) since 2024.

New India Foundation Announces Five-Book Shortlist for 2026 Kamaladevi Chattopadhyay NIF Book Prize

• The New India Foundation (NIF) announced the shortlist of five books for the 2026 Kamaladevi Chattopadhyay NIF Book Prize (KCBP).
• The award recognises outstanding non-fiction works that deepen understanding of India’s history, democracy, politics and society.
• The winner will receive a cash prize of ₹15 lakh.
• The winner is scheduled to be announced in December 2026, and the award presentation will take place on 12 December 2026 during the Bangalore Literature Festival 2026.
• Niraja Gopal Jayal, a political scientist and chair of the jury, highlighted the shortlisted books’ contributions to understanding India’s historical and contemporary experiences through rigorous and imaginative non-fiction.

Key Highlights

• The five shortlisted books and their authors are:

1. A Man for All Seasons: The Life of K. M. Panikkar — Narayani Basu.
2. Shattered Lands: Five Partitions and the Making of Modern Asia — Sam Dalrymple
3. Assembling India’s Constitution: A New Democratic History — Rohit De and Ornit Shani.
4. A Sixth of Humanity: Independent India’s Development Odyssey — Devesh Kapur and Arvind Subramanian.
5. The Secret Master: Arun Kashalkar and a Journey to the Edge of Music — Sumana Ramanan.

• The shortlisted works examine different aspects of India’s political, constitutional and cultural history, including the making of the Constitution, India’s development since Independence, the partitions that shaped modern Asia and the country’s musical traditions.
• A seven-member jury selected the shortlist. Its members include Chandrasekaran, Chairman of Tata Sons; Nirupama Rao, former Foreign Secretary of India; and Manish Sabharwal, an entrepreneur. Niraja Gopal Jayal chaired the jury.
• Established in 2018 and based in Bengaluru, the New India Foundation supports research and scholarship on post-Independence India through fellowships and literary awards.
• The Kamaladevi Chattopadhyay NIF Book Prize supports the foundation’s mission of encouraging high-quality research and writing on India’s democratic landscape.
• The prize promotes original non-fiction that explores the complexities of Indian society, politics and culture, recognising scholarly contributions that improve understanding of India’s past and present.

CURRENT AFFAIRS : ENVIRONMENT

New Flowering Plant Species ‘Osbeckia assamensis’ Identified in Assam’s Manas National Park

• Researchers Namita Nath of Gauhati University, Assam, and Barnali Das of Pragjyotish College, Assam, documented a new flowering plant species named Osbeckia assamensis in Manas National Park, Assam.
• The discovery was made through floristic surveys conducted between 2021 and 2025 and published in the peer-reviewed international journal Phytotaxa.
• Osbeckia assamensis belongs to the family Melastomataceae and the genus Osbeckia.
• The plant is a perennial shrub that grows approximately 2–2.5 metres tall, with a largely unbranched stem, large opposite leaves and pink flowers measuring 3–3.5 cm.
• Each inflorescence bears 30–35 flowers, compared with 5–12 flowers in Osbeckia nayarii, a closely related species.
• The new species is distinguished by its stem structure, leaf characteristics, flower arrangement, hairy calyx margins and seed characteristics.
• Flowering and fruiting occur between September and February, and the plant has been observed growing in scattered populations across the grasslands of Manas National Park.
• The type specimen was collected in October 2022, with another specimen documented in October 2025.
• Under the International Union for Conservation of Nature (IUCN) criteria, Osbeckia assamensis has been categorised as Data Deficient (DD) because its distribution and population status require further study.
• The discovery adds to the documented floral diversity of Assam and highlights the importance of botanical surveys and biodiversity conservation.
• In another botanical discovery, scientists formally identified Victoria colombiana, a giant waterlily species from the Inírida region of Guainía, Colombia.
• Victoria colombiana is the fourth recognised species of the genus Victoria, following Victoria amazonica, Victoria cruziana and Victoria boliviana.

CURRENT AFFAIRS : OBITUARIES

Japan’s Former Prime Minister Yasuo Fukuda Passed away at the Age of 90

• Yasuo Fukuda, former Prime Minister of Japan, passed away in Tokyo, Japan, at the age of 90.

About Yasuo Fukuda :

• He was born on 16 July 1936 in Takasaki, Gunma Prefecture, Japan.
• Yasuo Fukuda was Japan’s first second-generation Prime Minister, meaning he was the first Japanese Prime Minister whose father had also served as Prime Minister.
• Before entering politics, Fukuda worked at Maruzen Petroleum for nearly 17 years.
• He entered politics in 1976 as a secretary to his father, Takeo Fukuda, who was also a former Prime Minister of Japan.
• He was elected to Japan’s House of Representatives in 1990.
• He served as Chief Cabinet Secretary from 2000 to 2004.
• Fukuda served as the Prime Minister of Japan from September 2007 to September 2008.
• He announced his resignation on 1 September 2008 amid a divided parliament, legislative deadlock and declining public approval, and formally left office on 24 September 2008.
• As Prime Minister, Fukuda prioritised strengthening Japan’s relations with its Asian neighbours, particularly China.
• In May 2008, he hosted Chinese President Hu Jintao in Japan, marking the first visit by a Chinese head of state to Japan in 10 years.

Daily CA One- Liner: October 30

• The Ministry of Finance has notified 1 November 2026 as the effective date for amendments under the Finance Act, 2026, relating to post-supply discounts, provisional GST refunds under the Inverted Duty Structure (IDS), and export refunds.
• PB Money has received an Online Bond Platform Provider (OBPP) licence from the Securities and Exchange Board of India (SEBI) to simplify bond investments and expand access to fixed-income products for retail investors.
• India’s soybean imports reached a record 1.1 million metric tonnes in the 2025/26 marketing year, compared with approximately 2,000 tonnes in the previous year.
• The International Union for Conservation of Nature (IUCN) released the first global coral reef assessment under the Red List of Ecosystems (RLE) at the 17th Conference of the Parties (COP17) to the Convention on Biological Diversity (CBD) in Yerevan, Armenia.
• The Ministry of Home Affairs (MHA) assigned the additional charge of Director General (DG) of the Indo-Tibetan Border Police (ITBP) to Sanjay Singhal, Director General of the Sashastra Seema Bal (SSB).
• Air Marshal Vikram Gaur was appointed Additional Secretary in the Department of Military Affairs (DMA) under the Ministry of Defence (MoD) in October 2026, becoming the first Indian Air Force (IAF) officer to hold this position.
• The 11th edition of the India–Indonesia Joint Special Forces Exercise GARUDA SHAKTI 2026 commenced at Banyuwangi, Indonesia.
• Raksha Rajya Mantri Sanjay Seth will inaugurate VISV-2026 on 30 October 2026 at the Manekshaw Centre, New Delhi.
• Researchers Namita Nath of Gauhati University, Assam, and Barnali Das of Pragjyotish College, Assam, documented a new flowering plant species named Osbeckia assamensis in Manas National Park, Assam.
• Yasuo Fukuda, former Prime Minister of Japan, passed away in Tokyo, Japan, at the age of 90.

• President Droupadi Murmu gave her assent to the Frontier Nagaland Territorial Authority (FNTA) Bill 2026, which was unanimously passed by the Nagaland Legislative Assembly on 3 September 2026
• Chhattisgarh has selected the Orange Oakleaf (Kallima inachus) as its proposed first official state butterfly
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved an additional 3% instalment of Dearness Allowance (DA) for Central Government employees and Dearness Relief (DR) for pensioners, effective from 1 July 2026
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the Container Manufacturing Promotion Scheme (CMPS) with a budgetary outlay of ₹10,000 crore up to Financial Year 2039–40
• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) has proposed changes to the schedule of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) 2027–28 to improve its policy relevance and address emerging data requirements
• England captain Harry Kane won the men’s Ballon d’Or for the first time, becoming the first Englishman in 25 years to receive football’s top individual honour. Spain’s Alexia Putellas won the Women’s Ballon d’Or for the third time
• The New India Foundation (NIF) announced the shortlist of five books for the 2026 Kamaladevi Chattopadhyay NIF Book Prize (KCBP).