Thursday, Oct 15

Daily Current Affairs: 15 October 2026

Daily current affairs for 15 October 2026 with exam-focused key facts, connected news context, and revision notes for UPSC, SSC, banking and government exams.

Editorial note for exam revision Last updated: 15 October 2026. This briefing is structured for current affairs revision, with key updates and related coverage links to help readers connect recurring topics across days.

Today at a glance

Top current affairs to revise

  1. Reserve Bank of India (RBI) data shows India's current account deficit narrowing to $5.2 billion in August 2026
  2. Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27
  3. National Statistics Office data shows India's unemployment rate steady at 5% in September 2026
  4. India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows
  5. Reserve Bank of India (RBI) clarifies scope of 20% Foreign Exchange Risk Reserve requirement on rupee-linked derivative contracts
  6. India empowers tax authorities to deny treaty benefits on Mauritius-routed investments under Principal Purpose Test

Headlines by topic

Topic-wise current affairs headlines

All topic pages
Economy, Banking and Finance13 headlines
  1. Reserve Bank of India (RBI) data shows India's current account deficit narrowing to $5.2 billion in August 2026
  2. Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27
  3. National Statistics Office data shows India's unemployment rate steady at 5% in September 2026
  4. India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows
  5. Reserve Bank of India (RBI) clarifies scope of 20% Foreign Exchange Risk Reserve requirement on rupee-linked derivative contracts
  6. India empowers tax authorities to deny treaty benefits on Mauritius-routed investments under Principal Purpose Test
  7. World Bank Group Mobilises $36 Billion Private Capital in India Over Four Years, Including $9.6 Billion for MSMEs
  8. SEBI Chairman Tuhin Kanta Pandey outlines LODR and SME framework reviews, corporate bond measures and investor access reforms at FE Modern BFSI Summit 2026
  9. Sebi seeks Irdai's help to add insurance details to consolidated account statements
  10. GST Council's Law Committee recommends raising prosecution threshold to ₹10 crore and reducing jail terms
  11. Supreme Court affirms Bombay High Court order voiding Yes Bank's ₹8,415-crore AT1 bond write-off
  12. International Monetary Fund (IMF) endorses India's revised GDP calculation methodology as consistent with good practices
  13. India's Merchandise Exports Surge 23% to US$44.40 Billion in September 2026; Combined Goods and Services Exports Touch US$476.20 Billion in April-September 2026-27
Open Economy & Banking topic page
Government Schemes and Policy5 headlines
  1. CEA's Manual on Transmission Planning Criteria 2026 mandates full grid-connection redundancy for critical facilities
  2. DoT Issues Strict National Security Guidelines for Satellite Internet Providers in India
  3. Piyush Goyal Inaugurates National Strategic Trade Command Centre (NSTCC) in New Delhi for Data-Driven Trade Governance
  4. DoT mandates Calling Name Presentation (CNAP) on 4G and newer networks from November 1, 2026
  5. Karnataka Records 2.04 Crore Person-Days of Employment Under VB-G RAM G Rural Scheme
Open Schemes & Policy topic page
International, Defence and Summits4 headlines
  1. India's Defence Ministry signs Rs 4,106 crore deals for GSAT-7C satellite and Varunastra torpedoes
  2. Indian Coast Guard Adds Indigenous Advanced Light Helicopter MK-III at Ratnagiri Air Station
  3. Indian Navy Ends First-Ever Command of Combined Maritime Forces Task Force 154 at Bahrain Ceremony
  4. Solar Defence and Aerospace Limited Supplies 450 Nagastra-1R Loitering Munitions to Indian Army in Largest Single Batch
Open International & Defence topic page
Science, Discovery, Tech and Environment3 headlines
  1. IMD declares withdrawal of southwest monsoon nationwide as northeast monsoon sets in over south India
  2. Asiatic Lions Reoccupy Gujarat's Barda Wildlife Sanctuary After Nearly 144 Years, Study Finds
  3. TDB under DST backs Panacea Medical Technologies to build and commercialise made-in-India 32-slice CT scanner
Open Science & Environment topic page
Miscellaneous Current Affairs3 headlines
  1. International Day for Disaster Risk Reduction 2026 Observed on October 13 with Theme 'Resilience Starts at Home'
  2. PM Modi launches five projects worth ₹3,350 crore in Ladakh, including Leh airport terminal, 298-km Nimmu-Padum-Darcha Road and India's first petroglyph park
  3. Supreme Court bars Hindu converts to Islam from Muslim backward class reservation in Tamil Nadu
Open Miscellaneous topic page
Jump to current affairs headlines
  1. Reserve Bank of India (RBI) data shows India's current account deficit narrowing to $5.2 billion in August 2026
  2. Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27
  3. National Statistics Office data shows India's unemployment rate steady at 5% in September 2026
  4. India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows
  5. Reserve Bank of India (RBI) clarifies scope of 20% Foreign Exchange Risk Reserve requirement on rupee-linked derivative contracts
  6. India empowers tax authorities to deny treaty benefits on Mauritius-routed investments under Principal Purpose Test
  7. World Bank Group Mobilises $36 Billion Private Capital in India Over Four Years, Including $9.6 Billion for MSMEs
  8. SEBI Chairman Tuhin Kanta Pandey outlines LODR and SME framework reviews, corporate bond measures and investor access reforms at FE Modern BFSI Summit 2026
  9. Sebi seeks Irdai's help to add insurance details to consolidated account statements
  10. GST Council's Law Committee recommends raising prosecution threshold to ₹10 crore and reducing jail terms
  11. Supreme Court affirms Bombay High Court order voiding Yes Bank's ₹8,415-crore AT1 bond write-off
  12. International Monetary Fund (IMF) endorses India's revised GDP calculation methodology as consistent with good practices
  13. India's Merchandise Exports Surge 23% to US$44.40 Billion in September 2026; Combined Goods and Services Exports Touch US$476.20 Billion in April-September 2026-27
  14. CEA's Manual on Transmission Planning Criteria 2026 mandates full grid-connection redundancy for critical facilities
  15. DoT Issues Strict National Security Guidelines for Satellite Internet Providers in India
  16. Piyush Goyal Inaugurates National Strategic Trade Command Centre (NSTCC) in New Delhi for Data-Driven Trade Governance
  17. DoT mandates Calling Name Presentation (CNAP) on 4G and newer networks from November 1, 2026
  18. Karnataka Records 2.04 Crore Person-Days of Employment Under VB-G RAM G Rural Scheme
  19. India's Defence Ministry signs Rs 4,106 crore deals for GSAT-7C satellite and Varunastra torpedoes
  20. Indian Coast Guard Adds Indigenous Advanced Light Helicopter MK-III at Ratnagiri Air Station
  21. Indian Navy Ends First-Ever Command of Combined Maritime Forces Task Force 154 at Bahrain Ceremony
  22. Solar Defence and Aerospace Limited Supplies 450 Nagastra-1R Loitering Munitions to Indian Army in Largest Single Batch
  23. IMD declares withdrawal of southwest monsoon nationwide as northeast monsoon sets in over south India
  24. Asiatic Lions Reoccupy Gujarat's Barda Wildlife Sanctuary After Nearly 144 Years, Study Finds
  25. TDB under DST backs Panacea Medical Technologies to build and commercialise made-in-India 32-slice CT scanner
  26. International Day for Disaster Risk Reduction 2026 Observed on October 13 with Theme 'Resilience Starts at Home'
  27. PM Modi launches five projects worth ₹3,350 crore in Ladakh, including Leh airport terminal, 298-km Nimmu-Padum-Darcha Road and India's first petroglyph park
  28. Supreme Court bars Hindu converts to Islam from Muslim backward class reservation in Tamil Nadu
☰

Jump to current affairs

Headlines 15 October 2026
  1. Reserve Bank of India (RBI) data shows India's current account deficit narrowing to $5.2 billion in August 2026
  2. Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27
  3. National Statistics Office data shows India's unemployment rate steady at 5% in September 2026
  4. India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows
  5. Reserve Bank of India (RBI) clarifies scope of 20% Foreign Exchange Risk Reserve requirement on rupee-linked derivative contracts
  6. India empowers tax authorities to deny treaty benefits on Mauritius-routed investments under Principal Purpose Test
  7. World Bank Group Mobilises $36 Billion Private Capital in India Over Four Years, Including $9.6 Billion for MSMEs
  8. SEBI Chairman Tuhin Kanta Pandey outlines LODR and SME framework reviews, corporate bond measures and investor access reforms at FE Modern BFSI Summit 2026
  9. Sebi seeks Irdai's help to add insurance details to consolidated account statements
  10. GST Council's Law Committee recommends raising prosecution threshold to ₹10 crore and reducing jail terms
  11. Supreme Court affirms Bombay High Court order voiding Yes Bank's ₹8,415-crore AT1 bond write-off
  12. International Monetary Fund (IMF) endorses India's revised GDP calculation methodology as consistent with good practices
  13. India's Merchandise Exports Surge 23% to US$44.40 Billion in September 2026; Combined Goods and Services Exports Touch US$476.20 Billion in April-September 2026-27
  14. CEA's Manual on Transmission Planning Criteria 2026 mandates full grid-connection redundancy for critical facilities
  15. DoT Issues Strict National Security Guidelines for Satellite Internet Providers in India
  16. Piyush Goyal Inaugurates National Strategic Trade Command Centre (NSTCC) in New Delhi for Data-Driven Trade Governance
  17. DoT mandates Calling Name Presentation (CNAP) on 4G and newer networks from November 1, 2026
  18. Karnataka Records 2.04 Crore Person-Days of Employment Under VB-G RAM G Rural Scheme
  19. India's Defence Ministry signs Rs 4,106 crore deals for GSAT-7C satellite and Varunastra torpedoes
  20. Indian Coast Guard Adds Indigenous Advanced Light Helicopter MK-III at Ratnagiri Air Station
  21. Indian Navy Ends First-Ever Command of Combined Maritime Forces Task Force 154 at Bahrain Ceremony
  22. Solar Defence and Aerospace Limited Supplies 450 Nagastra-1R Loitering Munitions to Indian Army in Largest Single Batch
  23. IMD declares withdrawal of southwest monsoon nationwide as northeast monsoon sets in over south India
  24. Asiatic Lions Reoccupy Gujarat's Barda Wildlife Sanctuary After Nearly 144 Years, Study Finds
  25. TDB under DST backs Panacea Medical Technologies to build and commercialise made-in-India 32-slice CT scanner
  26. International Day for Disaster Risk Reduction 2026 Observed on October 13 with Theme 'Resilience Starts at Home'
  27. PM Modi launches five projects worth ₹3,350 crore in Ladakh, including Leh airport terminal, 298-km Nimmu-Padum-Darcha Road and India's first petroglyph park
  28. Supreme Court bars Hindu converts to Islam from Muslim backward class reservation in Tamil Nadu
Topic

Economy, Banking and Finance

View all Economy & Banking

Reserve Bank of India (RBI) data shows India's current account deficit narrowing to $5.2 billion in August 2026

Key Updates:

  • India's current account deficit narrowed to $5.2 billion in August 2026 from $6.1 billion a year ago, according to preliminary Reserve Bank of India (RBI) data.
  • The merchandise trade deficit declined to $26.6 billion in August from $27.6 billion a year ago, with exports rising to $44.7 billion and imports to $71.3 billion.
  • The services trade surplus increased to $16.5 billion in August from $15.6 billion a year ago, with services exports at $35.5 billion and imports at $18.9 billion.
  • Net transfers, including remittances, rose to $12.8 billion in August from $12.2 billion a year ago, while the income account deficit widened to $8 billion from $6.3 billion.
  • During April-August 2026, the current account deficit widened to $18.3 billion from $12.8 billion in the corresponding period of the previous year.
  • Net foreign direct investment (FDI) inflows stood at $3.3 billion in August against a net outflow of $0.1 billion a year ago, while net foreign portfolio investment recorded an inflow of $1.7 billion against an outflow of $2.6 billion in August 2025.
  • The overall balance of payments recorded a surplus of $45.4 billion in August, compared with a deficit of $5.6 billion a year ago, and a surplus of $58 billion during April-August 2026.

Connects with 2 related updates for revision context.

Related Current Affairs Coverage

Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27

Key Updates:

  • Direct tax collections after refunds rose 13.2% year-on-year to Rs 13.38 lakh crore as of October 14, meeting 49.6% of the Budget's Rs 26.97 lakh crore direct tax target for FY27.
  • Gross direct tax collections up to October 14 rose 14.9% year-on-year to Rs 16.03 lakh crore, higher than the 11.4% growth projected in the Budget for FY27.
  • Securities Transaction Tax (STT) collections rose 51.6% to Rs 46,840 crore till October 14, against a Budget projection of Rs 73,700 crore (15.8% growth) for FY27, aided partly by higher STT rates on equity derivatives effective April 2026.
  • Corporate tax collections after refunds rose 20.6% year-on-year to Rs 5.99 lakh crore, achieving 49% of the FY27 Budget target of Rs 12.31 lakh crore.
  • Non-corporate tax collections after refunds rose 5.8% year-on-year to Rs 6.92 lakh crore; before refunds they rose 11.5% to Rs 8.03 lakh crore, with refunds jumping 67% as of October 14.
  • Total refunds in FY27 up to October 14 stood at Rs 2,65,199.14 crore, a 24.22% jump from Rs 2,13,491.41 crore in the same period of FY26.

Connects with 4 related updates for revision context.

Related Current Affairs Coverage

India’s Direct Tax Buoyancy Stays Above 1 for Third Year (Start of September)

India's direct tax buoyancy remained above one for the third consecutive financial year in 2024-25 at 1.39, indicating that direct tax collections continued to grow faster than nominal gross domestic product (GDP).…

National Statistics Office data shows India's unemployment rate steady at 5% in September 2026

Key Updates:

  • India's overall unemployment rate for persons aged 15 years and above remained stable at 5% in September 2026, as per the National Statistics Office (NSO) Periodic Labour Force Survey.
  • The overall unemployment rate was 5.2% in September 2025, while rural unemployment stood at 4.2% and urban unemployment at 6.9% in September 2026.
  • Male unemployment rate remained stable at 4.9% and female unemployment rate was broadly stable at 5.2% in September 2026.
  • Rural female unemployment rate stood at 3.9%, its lowest level in 2026, while urban female unemployment rate rose from 8.9% to 9.2%.
  • The Labour Force Participation Rate for persons aged 15 years and above stood at 55.5% in September 2026, up 0.2 percentage points year-on-year.
  • Female Labour Force Participation Rate rose 0.5 percentage points year-on-year to 34.6%, and the Worker Population Ratio rose 0.3 percentage points to 52.7% in September 2026.
  • The monthly estimates are based on information collected from 3,70,513 persons surveyed across India.

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Related Current Affairs Coverage

India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows

Key Updates:

  • India's banking system deposits hit a record ₹284 trillion (about $2.99 trillion) in the second half of September, as per Reserve Bank of India (RBI) data.
  • The RBI's discounted dollar swap window, announced in June to attract foreign-currency deposits, drew inflows of around $133 billion and closed on August 31, a month earlier than planned.
  • Deposits rose by ₹21.67 trillion in the first six months of the financial year, with ₹20 trillion added between June 16 and August 31.
  • The fortnight ended September 30 saw deposit inflows of ₹7.73 trillion as lenders built funding buffers before the quarter-end.
  • Overall deposits at September-end were up 8.4% compared with March-end.
  • CareEdge Ratings said the October rate hike rules out further cuts in term deposit rates for now and is likely to push them up.

Connects with 4 related updates for revision context.

Related Current Affairs Coverage

Reserve Bank of India (RBI) clarifies scope of 20% Foreign Exchange Risk Reserve requirement on rupee-linked derivative contracts

Key Updates:

  • The Reserve Bank of India (RBI) issued FAQs clarifying that the 20% Foreign Exchange Risk Reserve (FERR) requirement applies to rupee-linked derivative contracts where users buy foreign currency against the rupee, notional value exceeds $2 million equivalent, and the transaction hedges current account exposures.
  • Contracts with notional value of $2 million equivalent or less are exempt from the FERR requirement, and dealers must guard against structuring transactions to circumvent the threshold.
  • Transactions where users sell foreign currency against the rupee, contracts not involving the rupee, and derivatives hedging capital account transactions are outside the FERR scope.
  • The reserve equals 20% of the rupee equivalent of the notional value; for a $10 million contract at Rs 95 per dollar, the FERR would be Rs 19 crore.
  • The reserve must be maintained daily in the authorised dealer's current account with the RBI, does not earn interest, and does not qualify as high-quality liquid assets (HQLA) under the liquidity coverage ratio framework.
  • Interest payments on external commercial borrowings, coupons on resident debt instruments held by non-residents, and dividends payable to non-resident investors are exempt from the requirement for users.
  • The rules apply only to contracts entered after the directions issued on October 10 and October 12; rolled-over pre-existing contracts are treated as fresh contracts and attract the requirement.
  • Authorised dealers must report FERR details daily through the RBI's Centralised Information Management System (CIMS) by 5 pm on the following working day.
  • The FERR requirement does not apply to foreign currency derivative contracts involving the rupee undertaken by authorised dealers with the RBI.

Connects with 4 related updates for revision context.

Related Current Affairs Coverage

RBI Forex Swap Facility Attracts Over $20.7 Billion (End of July)

The Reserve Bank of India (RBI) launched a concessional swap facility on June 5, 2026, which became operational on June 8, 2026. As of July 17, 2026, the facility had attracted cumulative forex inflows of $20.718…

India empowers tax authorities to deny treaty benefits on Mauritius-routed investments under Principal Purpose Test

Key Updates:

  • India's finance ministry notified amendments to the India-Mauritius Double Taxation Avoidance Agreement (DTAA) introducing a Principal Purpose Test (PPT), allowing denial of treaty benefits if obtaining tax relief was one of the principal purposes of a transaction.
  • The protocol, signed in March 2024, came into force on August 10, 2026.
  • Mauritius accounts for approximately $185.21 billion, or about 23.82%, of India's cumulative FDI equity inflows from April 2000 through December 2025, per DPIIT data.
  • Relief may still be available if granting it is consistent with the object and purpose of the relevant treaty provisions.

Connects with 4 related updates for revision context.

Related Current Affairs Coverage

World Bank Group Mobilises $36 Billion Private Capital in India Over Four Years, Including $9.6 Billion for MSMEs

Key Updates:

  • The World Bank Group has helped mobilise $36 billion in private capital for development in India over the past four years, including $9.6 billion for Micro, Small and Medium Enterprises (MSMEs).
  • Private capital mobilisation by the Group rose nearly five-fold to $14.5 billion in fiscal 2026 from about $3 billion in fiscal 2022, per Manuel Reyes-Retana, IFC's division director for South Asia.
  • Guarantees from the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) help reduce investment risks and attract private funding.
  • Under the $436 million Raising and Accelerating MSME Performance (RAMP) programme, the World Bank supported reforms to the Trade Receivables Discounting System (TReDS), a digital platform allowing businesses to raise funds against unpaid invoices.
  • The TReDS initiative has helped over 250,000 MSMEs gain faster access to capital, with 30 non-banking financial companies joining the platform.
  • Credit guarantees for women-owned businesses rose to 18 per cent from 14 per cent over two years, mobilising more than $1 billion.
  • India's first Green MSME Guarantee Fund has benefited more than 4,000 MSMEs and supported $40 million in investments in green and circular-economy activities.
  • Under its Country Partnership Framework for fiscal 2026-31, the World Bank Group is focusing on inclusive and sustainable growth in support of India's Viksit Bharat vision for 2047.

Connects with 4 related updates for revision context.

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SEBI Chairman Tuhin Kanta Pandey outlines LODR and SME framework reviews, corporate bond measures and investor access reforms at FE Modern BFSI Summit 2026

Key Updates:

  • Securities and Exchange Board of India (SEBI) Chairman Tuhin Kanta Pandey announced at the Financial Express Modern BFSI Summit 2026 in Mumbai that the regulator's next priorities are simpler rules, deeper markets, responsible innovation and wider access.
  • SEBI is undertaking a comprehensive review of the Listing Obligations and Disclosure Requirements (LODR) framework and has proposed stronger monitoring of issue proceeds with greater transparency and accountability.
  • SEBI is reviewing the SME framework to help genuine enterprises raise capital while ensuring investor safeguards, and a working group on harmonising rules for investment advisers and mutual fund distributors has submitted its recommendations.
  • India's market capitalisation has grown nearly fivefold to Rs 472 lakh crore, unique investors have crossed 15 crore, and mutual fund assets have reached around Rs 83 lakh crore.
  • Foreign portfolio investors hold around Rs 74 lakh crore in Indian equities and debt.
  • The International Monetary Fund's latest World Economic Outlook projects global growth of 3.1% in 2026, against India's projected growth of 7% in each of the next two financial years.
  • SEBI has discontinued 52 overlapping mutual fund reports and notices, simplified compliance reporting for stock brokers and rationalised penalties across exchanges.
  • Under the Garuda framework, SEBI reduced the timeline for launching regular alternative investment fund (AIF) schemes from 30 days to 10 working days, with eligible schemes launchable immediately upon filing.
  • SEBI is reviewing short-selling rules and the securities lending and borrowing mechanism, developing a market-making framework for corporate bonds, and has proposed fixed-income channel partners to widen retail access through regulated online bond platforms.
  • SEBI has proposed net settlement of funds for mutual fund schemes to reduce funding costs and improve settlement efficiency.
  • SEBI is exploring distributed ledger technology for tokenised corporate bond issuance and settlement through DMAAT 2.4 pilots, and Phase 2 of EMAP 2.0 will enable secondary-market trading of tokenised corporate bonds.
  • T+1 settlement, clearing interoperability, pledge and re-pledge of securities, upstreaming of client funds and direct payout of securities have strengthened investor protection, while AI-based tools including the Suptak platform flag compliance gaps and suspicious financial promotions.
  • SEBI has strengthened business continuity, disaster recovery and cyber resilience requirements, and exchanges have set up market security operations centres (MSOCs) providing affordable cybersecurity services to market participants.
  • SEBI plans simpler digital onboarding, easier KYC procedures and streamlined documentation for global investors, including non-resident Indians (NRIs).
  • SEBI is exploring an artificial intelligence sandbox to test applications in a controlled environment, assess risks and provide regulatory clarity to innovators.
  • SEBI's Investor Survey 2025 found that only 36% of investors had moderate to high knowledge of securities markets.

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Sebi seeks Irdai's help to add insurance details to consolidated account statements

Key Updates:

  • Securities and Exchange Board of India (Sebi) has written to the Insurance Regulatory and Development Authority of India (Irdai) chairman seeking inclusion of insurance-related information in the consolidated account statement, Sebi chairman Tuhin Kanta Pandey said on Thursday.
  • Currently, the consolidated account statement covers securities holdings, mutual funds, stocks across brokers, and the National Pension System (NPS).
  • Following the Reserve Bank of India (RBI) announcement that Sebi-regulated depositories could access bank deposit information continuously, Sebi is working on technical details for incorporating such information.
  • Sebi has sent nearly 440 million investor awareness messages over the last nine days.
  • Sebi is examining proposals to strengthen the securities lending and borrowing mechanism, with a working group evaluating proposals and a consultation paper to be issued once finalised.

Connects with 4 related updates for revision context.

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GST Council's Law Committee recommends raising prosecution threshold to ₹10 crore and reducing jail terms

Key Updates:

  • The GST Council's Law Committee has proposed raising the monetary threshold for prosecution under GST law to ₹10 crore from the existing ₹5 crore, which was last revised in 2017.
  • The Committee proposed reducing the maximum imprisonment for tax evasion in the ₹5 crore-₹10 crore range to two years from the current three years.
  • The proposals include giving courts greater discretion to award imprisonment, a fine, or both, based on the nature and severity of the offence.
  • The proposals will be placed before the GST Council at its October 7 meeting.
  • The Law Committee could not reach a consensus on whether the power to arrest under the GST law should be retained, leaving the final decision to the GST Council.

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Supreme Court affirms Bombay High Court order voiding Yes Bank's ₹8,415-crore AT1 bond write-off

Key Updates:

  • The Supreme Court upheld the Bombay High Court's January 20, 2023 judgment setting aside Yes Bank's ₹8,415-crore Additional Tier 1 (AT1) bond write-off announced on March 14, 2020, dismissing appeals by Yes Bank, the Reserve Bank of India (RBI) and the Union government.
  • A Bench of Justices Dipankar Datta and Augustine George Masih ruled that the bank's administrator lacked legal authority to write down the AT1 bonds after the final reconstruction scheme took effect on March 13, 2020, as the write-down provision had been removed from the approved scheme.
  • The court held that AT1 bonds had to be written down or converted before the reconstruction scheme commenced, not after, and that annual coupon payments must continue per the relevant information memoranda.
  • The dispute began after the RBI placed Yes Bank under a moratorium on March 5, 2020, and framed a reconstruction scheme under the Banking Regulation Act, 1949; the write-off was challenged by Axis Trustee Services Limited and other bondholders.
  • The Supreme Court observed that Yes Bank had sold high-risk AT1 bonds to individual investors despite RBI rules restricting their distribution to specified investor categories.
  • AT1 bonds are perpetual debt instruments issued by banks to strengthen core capital and absorb losses during financial distress.

Connects with 4 related updates for revision context.

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International Monetary Fund (IMF) endorses India's revised GDP calculation methodology as consistent with good practices

Key Updates:

  • The International Monetary Fund (IMF) on October 15, 2026 said India's updated GDP calculation methodology aligns with best practices and is entirely consistent with IMF advice, calling the base revision a 'welcome development'.
  • Krishna Srinivasan, Director of the IMF's Asia and Pacific Department, made the remarks in Bangkok and noted India had issued a note explaining the revisions to the GDP methodology.
  • Srinivasan acknowledged the work of the Ministry of Statistics and Programme Implementation (MOSPI) in improving GDP statistics, while stating there is always room for improvement.
  • The IMF raised India's GDP growth forecast for 2026-27 to 7% from 6.4% projected in July, citing stronger-than-expected economic momentum, resilient domestic demand and robust services activity, and raised the 2027-28 forecast by 0.3 percentage points to 7%.
  • The Reserve Bank of India (RBI) raised its GDP growth estimate for the current financial year to 7.1% at its latest monetary policy meeting.
  • Srinivasan said pressure on India's exchange rate after the energy shock reflects global interest rates, investor risk appetite and oil prices, and does not indicate a disconnect with economic growth.
  • A political dispute arose after India reported 7.8% GDP growth for the April-June quarter; former Finance Secretary SC Garg alleged previous year's data was compressed to inflate growth, while Chief Economic Advisor V Anantha Nageswaran called his approach 'cherry-picking' and said the new base year is the financial year ending March 2023.

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India's Merchandise Exports Surge 23% to US$44.40 Billion in September 2026; Combined Goods and Services Exports Touch US$476.20 Billion in April-September 2026-27

Key Updates:

  • India's merchandise exports rose 23.04% year-on-year to US$44.40 billion in September 2026, up from US$36.08 billion in September 2025, while merchandise imports grew 8% to US$74.61 billion, narrowing the merchandise trade deficit to US$30.21 billion from US$33.00 billion.
  • India's total exports (merchandise and services combined) for September 2026 are estimated at US$80.75 billion, up 10.99% from US$72.76 billion in September 2025, while total imports rose 8.19% to US$94.05 billion, leaving a total trade balance of -US$13.30 billion.
  • Cumulative exports (merchandise and services) during April-September 2026-27 are estimated at US$476.20 billion, up 13.84% from US$418.31 billion in April-September 2025-26, while total imports rose 15.68% to US$551.13 billion, widening the overall trade balance to -US$74.93 billion from -US$58.10 billion.
  • Merchandise exports during April-September 2026-27 stood at US$259.89 billion, up 18.51% from US$219.30 billion, while merchandise imports rose to US$437.53 billion from US$376.17 billion, widening the merchandise trade deficit to US$177.64 billion from US$156.88 billion.
  • Services exports for September 2026 are estimated at US$36.35 billion, slightly down from US$36.67 billion in September 2025, while services imports rose to US$19.44 billion from US$17.84 billion; cumulative services exports for April-September 2026-27 are estimated at US$216.31 billion, up 8.69%, with a services trade surplus of US$102.71 billion.
  • Key drivers of September 2026 merchandise export growth were Electronic Goods (up 70.44% to US$5.31 billion), Petroleum Products (up 31.90% to US$6.22 billion), Organic & Inorganic Chemicals (up 24.21% to US$2.94 billion), Engineering Goods (up 20.91% to US$12.17 billion), and Cotton Yarn/Fabs./Made-Ups and Handloom Products (up 20.76% to US$1.12 billion).
  • Cumulative Non-Petroleum exports in April-September 2026-27 were valued at US$218.70 billion, registering a 15.56% increase over US$189.26 billion in April-September 2025-26.
  • Non-petroleum and non-gems & jewellery exports in September 2026 were US$34.81 billion, compared to US$28.53 billion in September 2025.
  • Top five export destinations showing positive growth in September 2026 over September 2025 were Singapore (169.16%), Malaysia (119.69%), Egypt (90.09%), USA (47.99%), and China (24.05%).
  • India's merchandise exports to the United States rose to around US$51 billion during April-September 2026-27, up from US$45.73 billion in the corresponding period last year, supported by higher shipments of electronic goods, petroleum products, engineering goods, chemicals and agricultural products.
  • Commerce Secretary Rajesh Agarwal stated that negotiations for the proposed India-US trade agreement are moving in the right direction, with both countries working towards concluding the deal at the earliest.
  • Overall export growth reached 15.84% in Q2 FY27, compared to 11.84% in Q1, with total overall exports (goods and services) estimated at US$242.60 billion in July-September 2026, the highest ever recorded for a second quarter, up from US$233.60 billion in April-June.

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Government Schemes and Policy

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CEA's Manual on Transmission Planning Criteria 2026 mandates full grid-connection redundancy for critical facilities

Key Updates:

  • The Central Electricity Authority (CEA) released the Manual on Transmission Planning Criteria, 2026 on October 15, 2026, requiring large consumers such as railways, metro rail systems, refineries, steel plants, hospitals and data centres to plan grid connections with 100 per cent redundancy.
  • The manual says connections should, as far as possible, be from two different sources of supply, since two feeders sharing common upstream infrastructure would not provide meaningful redundancy.
  • CEA Chairman Ghanshyam Prasad said the manual was brought out against the backdrop of rapid transformation in the power sector, including integration of variable renewable energy, longer-distance transmission, rising fault levels and right-of-way issues.
  • Prasad noted that while the 765 kV transmission system has developed well, there is now a need for 1150 kV ultra high voltage AC (UHVAC) transmission, which offers higher power transfer, lower losses and helps deal with right-of-way issues.

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DoT Issues Strict National Security Guidelines for Satellite Internet Providers in India

Key Updates:

  • The Department of Telecommunications (DoT) under the Ministry of Communications has issued comprehensive security requirements for all Unified Licensees providing Global Mobile Personal Communications by Satellite (GMPCS) services in India, applicable to all operators including but not specific to Starlink.
  • Critical network infrastructure — Network Control and Monitoring Centres (NCMC), satellite gateways, Points of Presence (PoPs) and user data routing controls — must be physically located within India.
  • Operators must integrate their Lawful Interception Systems (LIS/LIM) with the Centralised Monitoring System (CMS) and Integrated Monitoring System (IMS), and demonstrate interception capabilities before starting commercial services.
  • User terminals cannot access the network outside designated geo-fenced boundaries; Indian-registered terminals are barred from foreign gateways, all user traffic must pass through Indian gateways, and direct terminal-to-terminal satellite communication bypassing domestic gateways is prohibited.
  • Providers must maintain Call Detail Records (CDRs) and Internet Protocol Detail Records (IPDRs) capturing latitude and longitude, device identifiers, IMEI numbers, MSISDNs, and public and private IP addresses, keeping such records within India.
  • For terminals in motion, location changes must be reported after every 2.6 km of movement or every minute, and location-spoofing hardware or software is prohibited.
  • Licensees must submit a phased, year-wise manufacturing programme to achieve at least 20 percent indigenisation of ground-segment equipment within five years of launching commercial operations.

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Piyush Goyal Inaugurates National Strategic Trade Command Centre (NSTCC) in New Delhi for Data-Driven Trade Governance

Key Updates:

  • Union Commerce and Industry Minister Shri Piyush Goyal launched the National Strategic Trade Command Centre (NSTCC) at Vanijya Bhawan, New Delhi, on 15 October 2026, in the presence of Commerce Secretary Rajesh Agrawal and DGFT Director General Lav Agarwal.
  • NSTCC was developed by the Department of Commerce, Ministry of Commerce and Industry, to strengthen monitoring, analysis and governance of India's international trade through integrated data analytics and evidence-based decision-making.
  • In its initial phase, NSTCC brings together dashboards covering key DGFT functions including Importer Exporter Code (IEC), Advance Authorisation, Export Promotion Capital Goods (EPCG), Certificate of Origin (CoO), SCOMET, and restricted imports and exports.
  • NSTCC is designed to support three dimensions of trade governance: Integrated Monitoring, Performance Assessment, and Evidence-Based Policy Inputs.
  • While reviewing the SCOMET (Special Chemicals, Organisms, Materials, Equipment and Technologies) dashboard, Goyal called for regular Inter-Ministerial Committee meetings, weekly if required, to clear pending applications expeditiously.
  • NSTCC leverages existing digital infrastructure including DGFT systems and the Trade Connect ePlatform, and is envisaged to evolve into a whole-of-government decision-support mechanism with phased access for ministries, states and Export Promotion Councils.

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Centre Launches Global Trade Guidebook for MSMEs (Mid of July)

The Centre for Trade and Investment Law (CTIL) of the Indian Institute of Foreign Trade (IIFT), in collaboration with the Confederation of Indian Industry (CII), launched the guidebook titled 'Going Global: A Practical…

DoT mandates Calling Name Presentation (CNAP) on 4G and newer networks from November 1, 2026

Key Updates:

  • The Department of Telecommunications (DoT), through a circular dated October 13, 2026, directed telecom operators to roll out Calling Name Presentation (CNAP) across 4G and newer wireless networks from November 1, 2026, without requiring users to make a separate activation request.
  • CNAP will display the caller's phone number along with the name drawn from the originating operator's subscriber database, but if the number is saved in the recipient's contacts, the saved name takes priority.
  • Unsaved international calls will display 'International Call' instead of the caller's name; an international call is defined as one originating in one country and terminating in another, where one of the countries is India.
  • Callers who have opted for Calling Line Identification Restriction (CLIR) under existing guidelines will not have their names displayed.
  • The initial rollout covers 4G and newer networks; implementation on 2G, 3G networks and landline (public switched telephone network) services will be examined separately.
  • Businesses and bulk-connection users may display a 'preferred name' instead of their subscriber-record name, provided it is a trademark registered with the Trade Marks Registry or a trade name registered on the GST portal, verified by the originating operator.
  • Operators must adopt a 'security-by-design' approach ensuring the caller's name is not retained after the call ends, and must resolve CNAP-related complaints through grievance redressal mechanisms within a time-bound period.
  • The circular cites TRAI's recommendations dated February 23, 2024, and earlier DoT instructions dated November 21, 2025 on KYC issues, which it supersedes, and references the Telecommunications (Authorisation for Provision of Principal Telecommunication Services) Rules, 2026.

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Karnataka Records 2.04 Crore Person-Days of Employment Under VB-G RAM G Rural Scheme

Key Updates:

  • Karnataka generated a record 2.04 crore person-days of employment under the Viksit Bharat-Guarantee for Rozgar and Ajeevika Mission (Gramin), or VB-G RAM G, scheme between July 1 and October 13, 2026, up from 1.71 crore person-days under MGNREGA in the same period last year.
  • VB-G RAM G, which replaced MGNREGA, was implemented in Karnataka from July 1, 2026.
  • Raichur district topped the state with 24 lakh person-days, followed by Bidar with 21 lakh and Koppal with 18 lakh person-days.
  • Employment generation rose 340 per cent in Vijayanagara, 257 per cent in Kalaburagi, 207 per cent in Koppal, 175 per cent in Ballari and 173 per cent in Bidar compared with the previous year.
  • A total of 87,164 new job cards were issued in the state this year, along with e-KYC verification of MGNREGA job cards and job card camps.
  • Under VB-G RAM G, each family is eligible for up to 125 days of employment a year at a wage of Rs 382 per day for both men and women, allowing a rural household to earn up to Rs 47,750 annually at full employment.
  • The scheme covers works such as desilting of lakes, social forestry, rejuvenation of canals, lakes and ponds, cattle sheds, farm ponds, soil-erosion prevention, compost pits and rural roads, and has been expanded to include house construction, community halls and rural bus stands.

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International, Defence and Summits

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India's Defence Ministry signs Rs 4,106 crore deals for GSAT-7C satellite and Varunastra torpedoes

Key Updates:

  • The Ministry of Defence signed contracts worth approximately Rs 4,106 crore on October 15, 2026 in New Delhi, in the presence of Additional Secretary and Director General (Acquisition) Shri A Anbarasu.
  • A Rs 2,563 crore contract for the GSAT-7C communication satellite for the Indian Air Force was signed with New Space India Limited, Bengaluru; the indigenously designed satellite will enhance secure and seamless communication for IAF assets.
  • A Rs 1,543 crore contract for Varunastra Heavy Weight Torpedoes for the Indian Navy was signed with Bharat Dynamics Limited, Hyderabad.
  • Varunastra is an indigenous ship-launched anti-submarine torpedo developed by the Naval Science and Technological Laboratory, capable of engaging enemy submarines at long ranges.
  • The contracts align with the Government's 'Aatmanirbhar Bharat' and 'Make-in-India' vision for self-reliance in critical defence technologies.

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Indian Coast Guard Adds Indigenous Advanced Light Helicopter MK-III at Ratnagiri Air Station

Key Updates:

  • The Indian Coast Guard inducted the indigenous Advanced Light Helicopter (ALH) MK-III, aircraft CG 875, into Coast Guard Region (West) at Ratnagiri, Maharashtra on October 13, 2026.
  • CG 875 is the first of five ALH MK-III aircraft allotted to 831 Sqn (CG) at Ratnagiri.
  • The helicopter features Advanced Radar, an Electro Optical Pod with long-range imaging and identification, and an Automatic Identification System.
  • The aircraft is armed with a cabin-mounted 12.7 mm Heavy Machine Gun for target neutralisation.
  • The induction enhances the Indian Coast Guard's surveillance and response capability within the Exclusive Economic Zone along the Maharashtra coast.

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Indian Navy Ends First-Ever Command of Combined Maritime Forces Task Force 154 at Bahrain Ceremony

Key Updates:

  • The Indian Navy relinquished Command of Combined Task Force 154 (CTF 154) of the Combined Maritime Forces (CMF) at a ceremony in Manama, Bahrain, on 14 October 2026, completing its maiden command of a CMF Task Force.
  • The Indian Navy had assumed Command of CTF 154 on 11 February 2026, becoming the first Indian Navy contingent to lead a CMF Task Force, with Commodore Milind M Mokashi handing over to Commander Melissa Desjardins.
  • CTF 154, established in May 2023, is CMF's dedicated multinational maritime training Task Force for enhancing professional competencies, interoperability and capacity development among Partner Nations.
  • During the tenure, the Indian Navy-led CTF 154 conducted 20 Staff Enhancement Training engagements, two major multinational training exercises and the inaugural Subject Matter Expert Exchange on Piracy and Armed Robbery (SPAR 2026), generating over 7,800 training hours with personnel from 39 countries.
  • Operation Compass Rose 26-1, held virtually from 20 to 22 April 2026, brought together 137 participants, 11 observers and 21 facilitators from 25 Partner Nations and 13 organisations.
  • Operation Southern Readiness 26-2, held at the Southern Naval Command, Kochi, from 20 to 23 July 2026, was the first major CMF training exercise hosted by India, with 276 personnel from 27 countries and about 3,800 training hours.
  • SPAR 2026, conducted on 5 and 6 October 2026, brought together 135 participants from 25 countries with contributions from 19 organisations.
  • The tenure saw the first dedicated 'Training of Trainers' engagement within the CMF training framework and CMF's first professional engagement with a Judge of the International Tribunal for the Law of the Sea.
  • India joined the Combined Maritime Forces as an Associate Partner in 2022 and became a full member in 2023.

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Solar Defence and Aerospace Limited Supplies 450 Nagastra-1R Loitering Munitions to Indian Army in Largest Single Batch

Key Updates:

  • Solar Defence and Aerospace Limited (SDAL), the defence arm of Nagpur-based Solar Industries, delivered 450 Nagastra-1R loitering munitions to the Indian Army in a single batch, the largest such supply to the Army so far.
  • The Indian Army placed the order under emergency procurement after technical trials in which four companies participated, with only SDAL demonstrating all operational parameters.
  • The Nagastra-1R is configured for short-range operations, built for kamikaze attack mode with an abort-and-recover option allowing the munition to be recalled mid-mission.
  • Loitering munitions can loiter over an area searching for a target before striking, giving commanders more flexibility than conventional shells or missiles.
  • The company has not disclosed the munition's range, endurance, warhead type, deployment locations, or the order value, and the Army has not commented on the delivery.

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Munitions India, Drogo Aerospace Sign MoU for UAV Systems (Start of September)

Munitions India Limited (MIL), a Defence Public Sector Undertaking under the Ministry of Defence, signed an MoU with Drogo Aerospace Private Limited for collaboration in design, development and integration of indigenous…

Adani Defence signs five-year AK-203 ammunition deal (Start of September)

Adani Defence & Aerospace has signed a five-year agreement with Indo-Russian Rifles Pvt Ltd to supply indigenously manufactured 7.62x39 mm ammunition for AK-203 assault rifles being produced in India. The agreement will…

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Science, Discovery, Tech and Environment

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IMD declares withdrawal of southwest monsoon nationwide as northeast monsoon sets in over south India

Key Updates:

  • The India Meteorological Department (IMD) announced that the southwest monsoon withdrew from the entire country on Thursday, October 15, 2026, with northeast monsoon rainfall commencing over parts of south India the same day.
  • Northeast monsoon activity was witnessed in Tamil Nadu, Puducherry, Karaikal, coastal Andhra Pradesh, Rayalaseema, south interior Karnataka, Kerala and Mahe.
  • The IMD forecast a wet spell with isolated heavy rainfall over many parts of south peninsular India till October 21.
  • This year's southwest monsoon ended with 759.4 mm of rainfall, 12.6 per cent below the normal of 868.6 mm.
  • The rainfall deficit has been attributed to El Nino conditions over the tropical Pacific, which emerged in June 2026 and have been strengthening since.
  • The World Meteorological Organization (WMO) has forecast that this year's El Nino is likely to peak in December 2026 and could become the strongest since observations began in 1950, with conditions expected to persist through February 2027.
  • The southwest monsoon is active from June to September and is crucial for the kharif crop cycle, while the northeast monsoon, also called the retreating monsoon, affects India from October to December and is significant for rabi crops.

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Asiatic Lions Reoccupy Gujarat's Barda Wildlife Sanctuary After Nearly 144 Years, Study Finds

Key Updates:

  • Asiatic lions have returned to Barda Wildlife Sanctuary after nearly 144 years, with the last known record there dating back to 1879, according to a study published in PLOS One.
  • The study, titled 'Beyond Gir: Barda Wildlife Sanctuary as a Potential Stronghold for Asiatic Lions', was conducted by scientists from the Gujarat Forest Department and Banda University of Agriculture and Technology.
  • Barda Wildlife Sanctuary spans 192.31 sq km in Gujarat's Porbandar and Devbhumi Dwarka districts in the Saurashtra region.
  • A male lion naturally arrived in 2023, the Gujarat Forest Department introduced five females, and by August 2025 the sanctuary had 17 lions, including six adults and 11 cubs, per the Union Ministry of Environment, Forest and Climate Change.
  • Researchers radio-collared six lions (one male and five females) and estimated their average home range at approximately 70.55 sq km; the lions' diet included wild pigs and domestic cattle, with spotted deer and sambar reintroduced to strengthen the prey base.
  • According to the 2025 Lion Population Estimation Report, Gujarat recorded 891 Asiatic lions compared with 674 in 2020, an increase of about 32% in five years.
  • A safari park covering around 248 hectares was announced as a planned project in 2025, and visitors should confirm its operational status with the Gujarat Forest Department before travelling.

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India’s Asiatic Lion Population Reaches 891 (Mid of August)

The Asiatic lion population in India increased from 523 in 2015 to 891 in 2025, as announced by Union Environment Minister Bhupender Yadav on World Lion Day. Project Lion, launched by Prime Minister Narendra Modi on…

TDB under DST backs Panacea Medical Technologies to build and commercialise made-in-India 32-slice CT scanner

Key Updates:

  • The Technology Development Board (TDB), Department of Science & Technology (DST), Government of India, signed an agreement with Panacea Medical Technologies Pvt. Ltd., Malur, Karnataka, to support the development and commercialisation of an indigenous 32-slice Computed Tomography (CT) Scanner under the Make in India initiative.
  • Panacea Medical Technologies is an Indian medical device manufacturer specialising in radiotherapy and radiology, and the project envisages design, development and deployment of a 32-slice CT scanner for diagnostic imaging across various clinical disciplines.
  • Medical devices have been identified as a priority sector under the Make in India initiative, and indigenous development of high-end equipment aims to reduce dependence on imported technologies.
  • Shri Rajesh Kumar Pathak is the Secretary of the Technology Development Board (TDB).

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Miscellaneous Current Affairs

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International Day for Disaster Risk Reduction 2026 Observed on October 13 with Theme 'Resilience Starts at Home'

Key Updates:

  • The International Day for Disaster Risk Reduction (IDDRR) 2026 is observed on 13 October, with the theme 'Resilience Starts at Home'.
  • The day was established in 1989 by the United Nations General Assembly and is observed annually on 13 October.
  • The Sendai Framework for Disaster Risk Reduction 2015–2030 was adopted in March 2015 at the Third UN World Conference on Disaster Risk Reduction in Sendai, Japan.
  • The Sendai Framework has four priorities: understanding disaster risk, strengthening disaster risk governance, investing in disaster risk reduction for resilience, and enhancing disaster preparedness with the Build Back Better principle.
  • The National Disaster Management Authority (NDMA) frames disaster management policies and coordinates preparedness efforts in India.

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PM Modi launches five projects worth ₹3,350 crore in Ladakh, including Leh airport terminal, 298-km Nimmu-Padum-Darcha Road and India's first petroglyph park

Key Updates:

  • Prime Minister Narendra Modi on October 15, 2026 virtually inaugurated and dedicated five major development projects worth around ₹3,350 crore in Ladakh via video conferencing.
  • A new passenger terminal building at Kushok Bakula Rimpochee Airport in Leh was inaugurated at a cost of ₹640 crore; spread over 23,800 square metres, it is designed to handle 35 lakh passengers annually.
  • The new Leh airport terminal incorporates geothermal energy for energy efficiency and, per the Prime Minister, is India's first terminal to feature geothermal heating alongside solar energy use.
  • The 298-km Nimmu-Padum-Darcha Road, constructed by the Border Roads Organisation (BRO) at a cost of ₹2,500 crore, connects Nimmu in Leh with Darcha in Himachal Pradesh through the remote Zanskar Valley and cuts travel time from 12 hours to 3 hours.
  • The Nimmu-Padum-Darcha Road traverses the high-altitude Shinkun La Pass and provides an alternative connectivity corridor to Ladakh, supplementing the existing Srinagar-Leh and Manali-Leh highways.
  • The Prime Minister inaugurated the 9 MW Hanu Small Hydroelectric Project and the 66 kV Double-Circuit Dah-Hanu-Khaltsi Transmission Line to strengthen power evacuation infrastructure and electricity network reliability in Ladakh.
  • India's first Petroglyph Conservation Park was inaugurated at Sindhu Ghat in Leh to protect Ladakh's prehistoric rock art, which features carvings of animals, human figures and symbolic designs.
  • Forty water bodies developed across 40 villages under Project Him Sarovar were inaugurated to store water from snowmelt and glacial runoff and support irrigation during Ladakh's critical sowing season.

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PM Launches ₹4,700 Crore Projects in Chandigarh (Mid of July)

Prime Minister Narendra Modi laid the foundation stone and dedicated development projects worth ₹4,700 crore in the Union Territory of Chandigarh. The projects aim to strengthen infrastructure, improve public services…

Supreme Court bars Hindu converts to Islam from Muslim backward class reservation in Tamil Nadu

Key Updates:

  • The Supreme Court upheld a Madras High Court judgment striking down a 2024 Tamil Nadu government order that allowed backward classes, most backward classes, denotified communities and scheduled caste converts to Islam to be issued community certificates of notified backward class Muslim sects.
  • A bench of Justices PK Mishra and Shree Chandrashekhar held that a person's pre-conversion status cannot confer backwardness, and that conversion severs the legal foundation of caste-based backwardness under Article 16(4) of the Constitution.
  • The high court had held that membership of notified Muslim communities such as Labbai, Rowther, Marakkayar or Deccani Muslim is determined solely by birth and cannot be acquired by conversion, as they are distinct socio-cultural communities rather than theological sects.
  • The case originated from a petition by Paramasivam, a Hindu who converted to Islam in 2015 and adopted the name Sameer Ahmed, after district authorities rejected his application for a Backward Class Muslim certificate as a Labbai Muslim.
  • The Tamil Nadu government had argued the 2024 order was based on the recommendation of the Tamil Nadu Backward Classes Commission, an argument rejected by the bench.

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