Finance Ministry defends IDBI Bank stake sale to Fairfax citing 2003 Act and 2018 Delhi High Court ruling
Key Updates:
- The Cabinet approved strategic disinvestment of a 60.72% stake in IDBI Bank to Canada's Fairfax Financial Holdings for about ₹53,000 crore ($5.5 billion).
- The deal is the largest foreign investment in India's financial sector so far.
- The Delhi High Court, in the All India IDBI Officers' Association v. Union of India case on December 17, 2018, held that the IDBI (Repeal) Act, 2003 contains no prohibition against reducing the government's stake in IDBI Bank.
- The court also held that the doctrine of promissory estoppel cannot be invoked based on statements made during parliamentary debates to restrict the government's power to dilute its shareholding in IDBI Bank.
- An amendment moved during the 2003 parliamentary debate to restrict dilution of the government's stake was rejected and did not form part of the enacted legislation.
- In Union Budget 2016-17, then Finance Minister Arun Jaitley said the government would consider reducing its stake in IDBI Bank to below 50 per cent.
- In Union Budget 2021-22, Finance Minister Nirmala Sitharaman said the government had worked on strategic disinvestment of IDBI Bank and other PSUs despite Covid-19.
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The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved the sale of a 60.72% stake in IDBI Bank to Canada-based Fairfax Financial Holdings Ltd for ₹52,878 crore, set to be the…
Finance Ministry says public sector banks hit record Rs 1.98 lakh crore profit in FY26 as GNPA falls to 1.93%
Key Updates:
- Public sector banks recorded their highest-ever net profit of Rs 1.98 lakh crore in FY 2025-26, according to the finance ministry.
- The gross non-performing assets (GNPA) ratio of public sector banks fell to 1.93 per cent as of March 31, 2026, the lowest level in several decades.
- Total business of public sector banks reached Rs 283 lakh crore in FY26.
- The finance ministry issued a point-by-point rebuttal to Samajwadi Party president Akhilesh Yadav's allegations that the government has made banking worse than a moneylender.
- Most public sector banks have either waived or reduced charges for non-maintenance of minimum balances in regular savings accounts.
- Locker compensation under current RBI rules can be up to 100 times the annual locker rent.
- More than 59 crore Jan Dhan accounts have been opened since the Pradhan Mantri Jan Dhan Yojana launched in August 2014, with no minimum balance requirement.
- Under the Pradhan Mantri Mudra Yojana, more than 59 crore loan accounts have received credit worth over Rs 43 lakh crore.
- The Financial Inclusion Index rose from 43.4 in 2017 to 70 in 2026.
- Banking service centres have been established within a five-kilometre radius, connecting all villages to banking outlets.
- Customers can report digital financial fraud through the national helpline number 1930.
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Giorgia Meloni completed 1,413 consecutive days in office as Italy's Prime Minister, becoming the longest-serving prime minister in the history of the Italian Republic since World War II. Giorgia Meloni came to power in…
Securitisation volumes rose 42 per cent year-on-year to a record ₹1.47 trillion in the first half of FY27, driven by a sharp rise in gold loan securitisation and a recovery in vehicle loan transactions, according to ICRA…
The Reserve Bank of India (RBI) Financial Inclusion Index (FI-Index) rose to 70.0 in March 2026 from 67.0 in March 2025. The FI-Index increased by 4.48 percent during the year ending March 2026.
The S&P Global HSBC India Manufacturing Purchasing Managers' Index (PMI) fell to 53.5 in July from 54.2 in June. The July reading was the lowest level since August 2021 and remained above the 50-point expansion…
WTO Lifts 2026 Global Merchandise Trade Growth Projection to 3.9%
Key Updates:
- The World Trade Organization (WTO) raised its 2026 global merchandise trade growth forecast to 3.9% from 1.9% projected in March, citing trade resilience despite the West Asia conflict.
- The WTO expects global merchandise trade volume to grow 4.1% in 2027, after 3.5% growth in the first half of 2026.
- West Asia crude oil exports fell about 24% and LNG exports 47%, but increased shipments from other suppliers limited the decline in global exports to around 6% for crude and 1% for LNG.
- AI-enabling goods such as semiconductors and servers accounted for 47% of global merchandise trade growth in the first half of 2026, with trade in these products rising 67% year-on-year.
- The WTO cut its 2026 commercial services trade growth forecast to 3.3% from 4.8%, projecting a rebound to 6.4% in 2027.
- West Asia merchandise exports are forecast to fall 17.2% in 2026 and services exports to contract 10.3%, while Asia is expected to lead merchandise export growth at 9.9%.
- Global container throughput rose 3.9% through July, and digitally delivered services remained resilient, with computer services exports rising 18% in the first quarter and an estimated 12% in the second.
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The Organisation for Economic Co-operation and Development (OECD) raised India's FY27 GDP growth forecast by 80 basis points to 7.1%, up from 6.3% projected in June. In its September Interim Economic Outlook, the OECD…
The International Monetary Fund (IMF), in its World Economic Outlook released during its annual meetings in Bangkok, raised India's GDP growth forecast for FY27 (2026-27) by 60 basis points to 7% from 6.4% estimated in…
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…
The United Nations Conference on Trade and Development (UNCTAD), in its Trade and Development Report 2026, projected India to remain the world's fastest-growing large economy with a growth rate of 7.3% in 2026. UNCTAD…
FSSAI Draft Rules Set Maximum Pesticide Residue Limits for Acetamiprid and Imidacloprid in Tea
Key Updates:
- The Food Safety and Standards Authority of India (FSSAI) notified draft amendments proposing Maximum Residue Limits (MRLs) for the pesticides Acetamiprid and Imidacloprid in tea.
- The draft Food Safety and Standards (Contaminants, Toxins and Residues) Amendment Regulations, 2026, published in the Gazette of India on 16 October 2026, propose MRLs of 20 mg/kg (20 ppm) for Acetamiprid and 50 mg/kg (50 ppm) for Imidacloprid in tea.
- The proposed Acetamiprid limit of 20 ppm in tea is lower than the corresponding limits of 30 ppm in Japan and 50 ppm in the USA, while the Imidacloprid limit was formulated with reference to international Codex standards.
- Earlier regulatory measures included the delisting of 13 pesticides identified as having higher toxicity and the Food Safety and Standards (Contaminants, Toxins and Residues) Amendment Regulations, 2024.
- India's average pesticide use of less than 0.5 kg per hectare is significantly below the estimated global average of 2.38 kg per hectare and lower than levels in countries including Colombia, Brazil and the USA.
- Stakeholder comments have been invited on the draft regulations, which are subject to finalisation.
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FSSAI has filed three separate adjudication cases against Nestle India Limited concerning NAN Excella Pro Stage 1, Lactogen Pro 1 and a follow-up formula manufactured by the company. Two cases relate to promotional…
National Institute of Technology Rourkela (NIT Rourkela) signed a tripartite MoU with the National Remote Sensing Centre (NRSC), Indian Space Research Organisation (ISRO), and Tea Board India for the project…
The Food Safety and Standards Authority of India (FSSAI) has proposed a nationwide ban on the manufacture and sale of non-dairy analogue products marketed as paneer. FSSAI has proposed amending the Food Safety and…
The Central Consumer Protection Authority (CCPA) imposed penalties of Rs 10 lakh each on Amazon and Flipkart, and Rs 5 lakh on JioMart, for selling and advertising the unregistered agro-chemical product 'Cyclosinone…
BIS Introduces Silver Refinery Certification Scheme and Seven New Indian Standards at World Standards Day 2026 Event
Key Updates:
- The Bureau of Indian Standards (BIS) unveiled seven new Indian Standards covering electric vehicle charging infrastructure, electric bicycles, therapeutic healthcare, robotics, textiles and building materials at the national World Standards Day 2026 event in New Delhi, presided over by Food and Consumer Affairs Minister Pralhad Joshi.
- BIS launched a certification scheme for silver refineries and mints that grants licences based on assessment of technical competence, refining processes and testing infrastructure, allowing licensed facilities to apply the official BIS hallmark to silver bullion and coins.
- The silver refinery certification scheme extends structured purity assurance and hallmarking to silver bullion and coins across India, modelled after the existing Gold Refinery Scheme.
- BIS Director General Sanjay Garg announced that BIS ranks among the world's first national standardisation bodies to make standards development and access completely digital for all stakeholders.
- BIS's Environment and Ecology Division Council released a strategic roadmap to establish Indian Standards for the sustainable agricultural sector.
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The Ministry of Electronics and Information Technology (MeitY) notified on September 21 that 'Screen Protectors for smartphones' have been added to the compulsory registration framework for electronic products under the…
The plant is India's first domestic production facility for Superfine Precipitated Aluminium Trihydrate (ATH). The facility is the world's only specialty alumina plant to operate entirely on renewable energy from…
The Reserve Bank of India (RBI) introduced the Lending Against Gold and Silver Collateral Directions, 2025, enabling eligible regulated lenders to accept silver as collateral. Paul Merchants Finance Private Limited…
The government will roll out BS-VII emission standards, aligned with Euro 7 norms, in three phases from April 2029 to April 2035, starting with new cars and SUVs from April 2029, small goods delivery and pick-up vans…
FSSAI draft amendment proposes prohibiting sucrose and fructose in foods for infants up to six months
Key Updates:
- FSSAI has published a draft amendment to the Food Safety and Standards (Foods for Infant Nutrition) Regulations, 2020, proposing to prohibit the addition of sucrose and fructose in food products intended for infants up to six months of age.
- The draft Food Safety and Standards (Foods for Infant Nutrition) Amendment Regulations, 2026 has been published for public consultation, with stakeholders able to submit objections and suggestions within 60 days; the regulator will consider all representations before finalising the amendment.
- Currently, regulations cover infant nutrition products for children from birth up to 24 months, with lactose and glucose polymers as preferred carbohydrate sources, while sucrose and/or fructose could be added only when required as a carbohydrate source within prescribed limits.
- The Ministry of Health and Family Welfare said the move aims to strengthen nutritional safeguards for infants, minimise exposure to added sugars in the earliest stages of life, and address dietary risk factors linked to childhood obesity.
- The initiative complements public health recommendations promoting exclusive breastfeeding during the first six months of life and encourages manufacturers to prioritise young infants' nutritional requirements.
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FSSAI has filed three separate adjudication cases against Nestle India Limited concerning NAN Excella Pro Stage 1, Lactogen Pro 1 and a follow-up formula manufactured by the company. Two cases relate to promotional…
The Food Safety and Standards Authority of India (FSSAI) has initiated penal action against e-commerce platforms Amazon, Swiggy Instamart, BigBasket, Flipkart India and Zepto for regulatory non-compliances, including…
The Food Safety and Standards Authority of India (FSSAI) has proposed a nationwide ban on the manufacture and sale of non-dairy analogue products marketed as paneer. FSSAI has proposed amending the Food Safety and…
The Food Safety and Standards Authority of India (FSSAI) proposed front-of-pack warning labels on packaged food and drinks high in sugar, fat or salt. The proposed label is a red-coloured hexagonal shape for products…
Centre amends Ladakh Autonomous Hill Development Council rules, fixes 7-24 elected seats
Key Updates:
- The Centre has amended the Ladakh Autonomous Hill Development Councils (Amendment) Regulation to align the councils with the Jammu and Kashmir Reorganisation Act, 2019, under which the Union territory of Ladakh was created.
- The number of elected seats in each council will be determined by the Ladakh administration, with a minimum of seven and a maximum of 24 seats.
- The administration can nominate up to four members from women and unrepresented communities, subject to a one-sixth limit of the population.
- The sitting Lok Sabha MP representing Ladakh will be an ex-officio member of the councils constituted for each district.
- Each council will have a five-year term from its first meeting, which can be extended if holding elections is considered impracticable.
- The regulation replaces references to 'State' and 'Governor' with 'Union territory of Ladakh' and 'Administrator', respectively.
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The Centre has formally identified 28 strategic places and geographical features in Ladakh on the official Survey of India map of the Union Territory, in consultation with the Ladakh UT administration. The identified…
The Centre has proposed a new constitutional provision, Article 371(K), for Ladakh, offering an elected Union Territory-level body legislative powers over land, culture, language, forests, environment and natural…
The Ministry of Home Affairs issued a Gazette notification introducing the Census (Amendment) Rules, 2026, under the Census Act, 1948, revising the list of eligible enumerators. Under the amended rules, teachers of…
Ladakh Lieutenant Governor VK Saxena approved a 233% hike in the monthly honorarium of nambardars (village heads, locally called gobas), raising it from ₹1,500 to ₹5,000 for 247 nambardars — the first revision since…
NMC directs all medical colleges to constitute patient safety committees and designate nodal officers
Key Updates:
- The National Medical Commission (NMC) has directed all medical colleges and medical institutions to constitute patient safety committees/cells and designate patient safety nodal officers.
- Institutions must share committee composition and nodal officer details with the National Patient Safety Secretariat (NPSS) at the Directorate-General of Health Services (DGHS).
- Each committee is to be chaired by the director, head of the institution or medical superintendent, with representation from relevant specialties and patient safety domains.
- The NMC patient safety framework covers 11 domains, including medication and surgical safety, blood and medical device safety, laboratory and diagnostic safety, and infection prevention and control.
- Other domains include patient and family engagement, vaccine and injection safety, operational research, facility safety (biomedical waste, fire, structural and environmental safety) and safety in AYUSH services.
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The National Pharmaceutical Pricing Authority (NPPA) has directed the Union Health Ministry to submit, by October 14, a list of cancer medicines along with details of their profit margins, which are to be restricted to…
The National Medical Commission (NMC) issued the Ethics and Medical Registration Board's Guidelines on Ethical Advertising and Public Communication by Hospitals/Medical Institutions and Registered Medical Practitioners…
The Indian government launched the Biovigilance Program, led by the Indian Pharmacopoeia Commission (IPC), to monitor adverse events linked to medicines and biological products used in organ and tissue transplantation…
Union Minister of State for Health & Family Welfare and Chemicals & Fertilizers, Anupriya Patel, launched the 7th Edition of the National Formulary of India (NFI) 2026 on 21 September 2026 at the 6th National…
Supreme Court rules internet access a fundamental right for children, orders national CSEAM database
Key Updates:
- The Supreme Court declared the right to access and use the internet a fundamental right of every individual, including children, under Article 21 read with Article 19(1)(a) of the Constitution, ruling out a blanket ban on children's internet access.
- A bench of Justices JB Pardiwala and K Vinod Chandran passed the 137-page order on October 15 on a plea by NGO Just Rights for Child Rights Alliance, represented by senior advocate HS Phoolka.
- The court directed the Centre to create a national database for detection and removal of sexually explicit visual content depicting minors on digital platforms, amid rising circulation of child sexual exploitation and abuse material (CSEAM).
- The court held that age-based restrictions requiring age verification of every user involve disproportionate data collection and surveillance risks, and no jurisdiction has demonstrated that children are safer under such blanket restrictions.
- The court clarified that age-based safeguards like parental consent, a dedicated 'child mode', and restrictions on inherently harmful content such as adult websites are still permissible.
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The International Day for Universal Access to Information is celebrated annually on 28 September. The day was declared by UNESCO in 2015 and adopted by the United Nations General Assembly in 2017.
French President Emmanuel Macron has urged the European Commission to back a European Union (EU)-wide ban on social media for children under 15 after France failed to enact its own legislation. Macron made the appeal in…
France has become the first EU country to pass a social media ban for children under 15. The law requires parental consent and will be phased in starting September 2026, with full effect in January 2027.
Maharashtra adds PET-CT scan coverage to MJPJAY and Ayushman Bharat PM-JAY cancer packages
Key Updates:
- PET-CT scans, essential for cancer detection, disease staging and treatment monitoring, will now be covered under the Mahatma Jyotirao Phule Jan Arogya Yojana (MJPJAY) and Ayushman Bharat – Pradhan Mantri Jan Arogya Yojana (PM-JAY) in Maharashtra.
- Maharashtra's Public Health Department issued a Government Resolution adding PET-CT scans as an additional diagnostic procedure under 63 cancer treatment packages.
- For 13 specific types of cancer, the PET-CT scan has also been included as a standalone or primary diagnostic procedure.
- The decision is expected to reduce the financial burden on cancer patients who previously paid for the expensive test themselves.
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Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY) completed eight years, with Prime Minister Narendra Modi and Union Health Minister JP Nadda marking the milestone. AB PM-JAY, launched on September 23, 2018…
West Bengal officially implemented the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB-PMJAY) on August 16, 2026. Under AB-PMJAY, eligible families in West Bengal get cashless treatment up to ₹5 lakh per family per…
Union Health and Family Welfare Minister Jagat Prakash Nadda will inaugurate Arogya Manthan 2026 on September 25 at Vigyan Bhawan, New Delhi, organised by the National Health Authority to mark eight years of Ayushman…
Mizoram CM Lalduhoma Rolls Out MIWAS, e-Sanction, e-Budget and 100% DBT for Digital Financial Management
Key Updates:
- Mizoram Chief Minister Lalduhoma launched four digital financial management initiatives — the Mizoram Integrated Works Accounts System (MIWAS), e-Sanction, e-Budget and 100% Direct Benefit Transfer (DBT) — at the Chief Minister's Office in Aizawl, implemented under the Finance Department.
- MIWAS will streamline works accounts across six departments: Public Works Department (PWD), Public Health Engineering Department (PHE), Power & Electricity Department (P&E), Irrigation & Water Resources Department (IWRD), Environment, Forest & Climate Change Department (EFCC), and Land Resources, Soil & Water Conservation Department (LRS&WC).
- The e-Budget module enables online preparation and submission of budget proposals through the Integrated Financial Management Information System (IFMIS), while the e-Sanction module facilitates online processing of expenditure sanctions and helps prevent expenditure beyond available budget allocations.
- Under the 100% DBT initiative, payments under state schemes including Thlai Thar Leina, Bana Kaih and Power Subsidy will be transferred directly to beneficiaries' bank accounts, with payment status trackable through IFMIS.
- Mizoram received Rs 350 crore under SASCI Part IX in the previous year and is preparing to secure approximately Rs 650 crore under SASCI Part IV and Part IX during 2026–27.
- The Finance Department, ICT Department, Interlace India Pvt. Ltd. and the Centre for Development of Advanced Computing (C-DAC) contributed to strengthening the state's digital financial infrastructure.
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The Ministry of Ports, Shipping and Waterways (MoPSW) launched the E-Samudra digital platform on August 10, 2026. E-Samudra integrates services for seafarers, shipping companies, ports, and other maritime stakeholders…
On 24 August 2026, ILO and NCAER released a was brief titled “Advancing Women’s Digital Financial Inclusion in the Platform Economy”. NITI Aayog estimates India’s platform workforce could rise from 12 million in 2024-25…
India Post Payments Bank (IPPB) launched the DakPay sound box, digital insurance and mutual fund platforms on its 9th foundation day. The bank has over 13 crore customers, including a large rural and women customer base.
The Ministry of Panchayati Raj (MoPR) launched the DAANVEER initiative on 29 July 2026. The initiative aims to strengthen digital infrastructure in gram panchayats through voluntary public contributions.
AIIA's Kaumarbhritya Department Named Centre of Excellence for Rashtriya Ayurveda Vidyapeeth via MoU
Key Updates:
- The All India Institute of Ayurveda (AIIA) signed an MoU with Rashtriya Ayurveda Vidyapeeth (RAV), Ministry of Ayush, during KAUMARACON 2026 at AIIA, New Delhi, recognising the Department of Kaumarbhritya at AIIA Delhi and Goa as a Centre of Excellence for RAV.
- The MoU aims to develop a standard operating procedure for Swarnaprashan Samskar covering formulation standardisation, preparation, age-appropriate dosage, quality control, safety and documentation, with RAV supporting dissemination among national and international stakeholders.
- The collaboration includes laboratory and clinical research on the safety and efficacy of Swarnaprashan, joint publications and capacity-building programmes, subject to feasibility and approvals.
- AIIA Goa's PRAYAS integrated paediatric neurorehabilitation centre combines a paediatric Panchakarma unit with multidisciplinary professionals to support children with autism spectrum disorder, cerebral palsy, ADHD and other neurodevelopmental conditions.
- An international MoU between AIIA Goa and Maharishi International University (Fairfield, Iowa, USA) establishes an Academic Chair in Ayurveda in MIU's Department of Physiology and Health, covering curriculum development, courses, workshops and intellectual property protection.
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The Centre has announced Centres of Excellence for five classical languages: Classical Assamese, Classical Bengali, Classical Marathi, Classical Pali and Classical Prakrit, to be hosted at five institutions across five…
The All India Institute of Ayurveda (AIIA) launched the 'Garbhini Mitra' course for the 2026-27 academic session. The six-month offline course is conducted at AIIA's Sarita Vihar campus and is based on Ayurvedic concepts…
The All India Institute of Ayurveda (AIIA) launched a digital dialogue series named 'Ayurvarta' on September 1, 2026. Ayurveda Day will be celebrated on September 23, 2026.
The MeitY IndiaAI Centre of Excellence in Artificial Intelligence Thiruvananthapuram, Keralam (CAIK), along with its first cohort of 15 AI startups, was launched on September 30, 2026, by Kerala Minister for Industries…
Indian Navy commissions Samarthak, its first warship built by a private shipyard
Key Updates:
- The Indian Navy commissioned the multi-purpose vessel Samarthak, the first major warship contracted to and built by a private shipyard, at its base in Karwar.
- Samarthak was built by Larsen and Toubro (L&T) at its Kattupalli shipyard in Tamil Nadu and has more than 75 per cent indigenous content.
- Samarthak is the first of four multi-purpose vessels being inducted into the Indian Navy.
- The vessel was designed, engineered and built entirely in-house at L&T's Warship Design Centre and shipyard, which the Navy chief called a significant step towards Aatmanirbharta (self-reliance).
- Samarthak's roles include trials of indigenous weapons and sensors, operations with unmanned autonomous systems, maritime surveillance and patrol duties, and launching and recovering targets used in warship exercises at sea.
- The ship is equipped with a dynamic positioning system, heavy-towing facilities, medical infrastructure and firefighting capabilities, and can support humanitarian assistance, disaster relief and non-combatant evacuation missions.
- The commissioning ceremony was attended by Vice-President C P Radhakrishnan, and Navy Chief Admiral Krishna Swaminathan said the vessel would reinforce India's role as a first responder and preferred security partner in the region.
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The Indian Navy will commission its first Multi-Purpose Vessel (MPV) Samarthak and the Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) Mangrol in October 2026. Samarthak, built at the Larsen and Toubro shipyard in…
The Indian Navy will commission the Multi-Purpose Vessel Samarthak at Naval Base, Karwar on 16 October 2026. Samarthak is the first of four Multi-Purpose Vessels being inducted into the Indian Navy and was built by…
Larsen & Toubro delivered Samarthak, the Indian Navy’s first indigenous Multi-Purpose Vessel, at Kattupalli on 27 August 2026. Samarthak has over 75 percent indigenous content and was built under the Ministry of…
The Indian Navy commissioned INS Mangrol (P82), the third Mahe-class Anti-Submarine Warfare Shallow Water Craft (ASW-SWC), at the Naval Dockyard, Mumbai, on 12 October 2026. The commissioning ceremony was presided over…
India-UK Bilateral Maritime Exercise Konkan-26 Ends Off Plymouth After October 8-15 Drills
Key Updates:
- The India-UK bilateral maritime exercise KONKAN-26 was conducted off Plymouth, UK, from 08-15 Oct 2026 and concluded on 15 Oct 2026.
- The Indian Navy was represented by the stealth frigate INS Trishul, while the Royal Navy deployed HMS Sutherland, a Duke-class anti-submarine warfare frigate.
- The exercise was conducted by Fleet Operational Standards and Training (FOST), Royal Navy.
- The four-day Sea Phase from 12-15 Oct 2026 included advanced seamanship manoeuvres, joint tactical exercises, communication procedures, anti-surface asymmetric warfare, anti-submarine warfare and weapon firings in a multi-threat maritime environment.
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Indian Navy's guided missile stealth frigate INS Trishul arrived at Plymouth, United Kingdom, to participate in Exercise KONKAN-26 with the Royal Navy. KONKAN-26 is the India-UK annual bilateral maritime exercise…
India issues first customs duty concessions under New Zealand free trade agreement, effective October 20
Key Updates:
- India has notified the first set of customs duty concessions under its free trade agreement (FTA) with New Zealand, effective October 20, covering products such as wine, manuka honey, kiwi fruit and sheep meat.
- The Finance Ministry issued the notification on October 16, prescribing revised basic customs duty (BCD) and cess rates for specified goods.
- Fresh, chilled and frozen sheep meat from New Zealand will attract zero basic customs duty, Agriculture Infrastructure and Development Cess (AIDC) and health cess.
- Eligible kiwi fruit imports valued at $2.50 per kg or more will attract a basic customs duty of 15%.
- Several listed fish tariff lines will attract a BCD of 25.71%, with AIDC and health cess at zero.
- The notification provides for tariff-rate quotas (TRQs), allowing specified quantities of selected products to enter India at preferential rates.
- Importers must meet product-specific requirements and furnish proof of New Zealand origin to qualify for the concessions.
- Dairy products and key agricultural items remain excluded from the concessions.
- The notification was issued by the Department of Revenue under Section 25(1) of the Customs Act, 1962.
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The India-New Zealand Free Trade Agreement (FTA), signed on 27 April 2026 at Bharat Mandapam, New Delhi, will enter into force on 20 October 2026 following completion of internal processes in both countries. The FTA was…
The Government of India has reduced the windfall tax on diesel exports to ₹24 per litre from ₹25.5 per litre. The levy on aviation turbine fuel (ATF) exports has been cut to ₹19.5 per litre from ₹22 per litre.
New Zealand's parliament passed legislation to implement a free trade agreement with India, under which tariffs on about 95% of New Zealand exports to India will be eliminated or significantly reduced. The legislation…
The Department of Commerce under the Ministry of Commerce and Industry has set up an FTA Utilisation Cell to help domestic businesses understand and tap opportunities in markets covered by India's free trade agreements.…
India's NTPC and Africa50 Sign Cooperation Agreement to Develop Power Projects Across Africa
Key Updates:
- NTPC Ltd, India's largest integrated power utility, signed a cooperation agreement with Africa50, a pan-African infrastructure investment platform, to identify, assess and develop power generation projects and cross-border electricity trading opportunities across Africa.
- The partnership combines NTPC's technical, engineering, construction management and operational capabilities with Africa50's project development and financing expertise to identify commercially viable projects and mobilise investment.
- Under the agreement, NTPC will assess project feasibility, develop technical solutions and support identified opportunities through implementation, while Africa50 will use its project pipeline and relationships with governments and regulators across its 34 African country shareholders to identify and structure priority projects.
- The agreement strengthens infrastructure investment cooperation between India and Africa.
- NTPC has set a target of 149 GW of installed capacity by 2032, including 60 GW of renewable energy.
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NTPC is close to identifying three locations — Basai in Madhya Pradesh, Banka in Bihar and Nabarangpur in Odisha — that could host 2,000-4,000 MW of nuclear capacity each, creating a potential 6-12 GW project pipeline.…
The Asian Development Bank (ADB) has signed its first Transaction Advisory Services (TAS) mandate in India with the Government of Madhya Pradesh to support renewable energy public-private partnership (PPP) projects. The…
State-owned NTPC and EDF Power Solutions India, a wholly-owned subsidiary of French utility EDF (Électricité de France), signed a 50:50 joint venture agreement on September 25, 2026, in the presence of NTPC CMD Gurdeep…
Action Against Hunger report lists Pakistan among 10 countries with world's most severe food crises
Key Updates:
- Pakistan remains among the world's 10 countries facing the worst food crises, according to a report by the international humanitarian organisation Action Against Hunger.
- The report cites persistent poverty, rising food prices, unemployment, climate-related disasters and declining humanitarian aid as factors worsening food insecurity in Pakistan.
- Families in Pakistan are increasingly skipping meals, selling assets and withdrawing children from schools to cope with financial pressures.
- Around 177 million people face severe food insecurity across the 10 worst-affected countries, which include Pakistan, Afghanistan, Sudan and Yemen.
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Pakistan will assume the chairmanship of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) in 2027, its first time in the role since 1953. The announcement was made at the…
The Food and Agriculture Organization of the United Nations (FAO) and the World Food Programme (WFP) jointly prepared the UN Hunger Hotspots Report for June to November 2026. The report identified 13 countries and…
The United States, in its annual presidential determination submitted to the US Congress on September 15, identified 23 countries, including India, China and Pakistan, as major drug transit or illicit drug-producing…
The United Nations announced the appointment of United States agriculture official Luke Lindberg to head the World Food Programme (WFP). Lindberg will replace Cindy McCain as executive director of the Rome-based WFP…
IMD data show India's south-west monsoon rainfall was 15% below normal in 2026
Key Updates:
- India received 76.86 cm of rainfall between June 4 and October 15 during the south-west monsoon, which is 15 per cent below its long-period average of 90.63 cm, according to the India Meteorological Department (IMD).
- The south-west monsoon set in over Keralam on June 4 and withdrew from the entire country on October 15.
- Ladakh recorded the highest rainfall at 112 per cent above normal, while Meghalaya had the lowest at 61 per cent below normal.
- In quantitative terms, Goa received the highest rainfall of 196.68 cm among states, while Punjab recorded the lowest at 28 cm.
- The east and north-east region was 27 per cent deficient, with Arunachal Pradesh (-45 per cent), Assam (-29 per cent), Bihar (-32 per cent) and Meghalaya (-61 per cent) reporting less rainfall.
- In north-west India, Punjab (-37 per cent), Haryana (-21 per cent) and Rajasthan (-24 per cent) were deficient, while Uttar Pradesh had normal precipitation at +6 per cent.
- Maharashtra reported a 23 per cent deficit and Goa 36 per cent, while Odisha received 23 per cent surplus rainfall and Chhattisgarh a 2 per cent shortfall.
- Except the Andaman and Nicobar Islands with 1 per cent surplus, all meteorological sub-divisions in the south peninsula were deficient by 23 to 46 per cent, and the north-east monsoon has now set in.
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NCDEX launched RAINCHNNAI, a rainfall-based weather derivatives futures contract for Chennai's Northeast Monsoon, on August ularly 31. The contract is based on the Cumulative Deviation Rainfall (CDR) model, which tracks…
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…
Supreme Court directs Centre to create online portal for autism patients undergoing stem cell therapy
Key Updates:
- The Supreme Court, in an order passed on October 13, 2026 by a bench of Justices JB Pardiwala and R Mahadevan, directed the Centre to create a dedicated online portal within six weeks for patients undergoing stem cell therapy for Autism Spectrum Disorder (ASD).
- Patients who commenced stem cell therapy for ASD on or before January 30, 2026, along with their parents, guardians, caregivers, treating medical practitioners and clinics, must register on the portal and may continue therapy until the randomised controlled trial (RCT) is established, as a strictly temporary arrangement.
- The court's January 30, 2026 order had prohibited stem cell therapy for ASD as a routine clinical service, permitting it only within approved and monitored clinical trials or research settings.
- The Centre's affidavit of September 28 stated that no clinical trial application had been received pursuant to the January 30 order, and proposed an Indian Council of Medical Research (ICMR)-funded multicentre RCT at two tertiary care sites, one in north India and one in south India, within six months.
- The court gave the Centre six weeks to issue a comprehensive protocol explaining the regulatory regime for stem cell use in ASD research and clinical trials, and ordered public information on the Ministry of Health's website stating that stem cell therapy for ASD is not permissible as a clinical service outside approved research settings.
- The court allowed the Parents' Forum for Stem Cells in Autism and Cerebral Palsy to make suggestions on the RCT design and sought a compliance report before the next hearing on December 14.
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The Union Health Ministry issued an advisory on September 16, 2026, directing states not to offer unproven stem cell interventions as routine, standard or commercial clinical services. Stem cell therapy will be offered…
Sukhna Wetland in Chandigarh and Sauj Jheel in Uttar Pradesh Take India’s Ramsar Sites to 103
Key Updates:
- India’s Ramsar site tally reached 103 with the designation of Sukhna Wetland in Chandigarh and Sauj Jheel in Uttar Pradesh as the latest additions, announced on October 15, 2026 by Union Environment, Forest and Climate Change Minister Bhupender Yadav.
- The announcement was made on October 15, 2026 via a social media post by Minister Bhupender Yadav.
- The government highlighted wetlands’ role in conserving biodiversity, enhancing water and climate security, and sustaining local livelihoods under the Amrit Dharohar initiative.
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Glaw Lake, located inside the Kamlang Tiger Reserve and Wildlife Sanctuary in Arunachal Pradesh, has been designated as the state's first Ramsar site and India's 101st. The designation was announced by Union Environment…
National Biodiversity Authority distributes Rs 1.19 crore among 29 State Biodiversity Boards and one UT Biodiversity Council via Access and Benefit Sharing mechanism
Key Updates:
- The National Biodiversity Authority (NBA) disbursed Rs 1.19 crore under the Access and Benefit Sharing (ABS) mechanism to 29 State Biodiversity Boards and one Union Territory Biodiversity Council for biodiversity conservation, sustainable use of biological resources and community welfare.
- Allocations were determined in proportion to estimated cultivation areas of the biological resources, based on agricultural statistics from the Ministry of Agriculture and Farmers Welfare's Unified Portal for Agricultural Statistics.
- Maharashtra received the highest allocation of Rs 19,46,149, followed by Rajasthan (Rs 13,97,525) and Madhya Pradesh (Rs 13,32,250), with a total of Rs 1,18,61,655 distributed.
- The allocation covers agricultural biological resources including maize, rice, pearl millet and cotton, with ABS contributions received from companies such as Corteva Crop India Pvt. Ltd., Pioneer entities, Limagrain entities and Syngenta India Ltd.
- As on date, the NBA has disbursed Rs 86 crore realised from the agriculture sector, and more than Rs 203 crore in total, to various beneficiaries.
- The funds must be used exclusively for activities under Section 32(2) of the Biological Diversity Act, 2002, including biodiversity documentation, conservation, research, capacity building and community livelihoods.
- India is preparing for COP 17 of the Convention on Biological Diversity, scheduled for 19-30 October 2026 in Yerevan, Armenia.
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The National Biodiversity Authority (NBA) has crossed cumulative access and benefit-sharing (ABS) disbursements exceeding Rs 200 crore. NBA sanctioned Rs 8.23 crore to 27 State Biodiversity Boards and 5 Union Territory…
The National Biodiversity Authority (NBA) disbursed approximately ₹3.79 crore as Access and Benefit Sharing (ABS) to 33 State Biodiversity Boards (SBBs) and Union Territory Biodiversity Councils (UTBCs), ICAR-National…
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Indian coral reef study reveals stark regional differences in bleaching during 2024 global event
Key Updates:
- A study published in the journal Coral Reefs by Springer Nature examined the effects of the fourth global coral bleaching event on India's coral reefs in 2024.
- Rapid bleaching assessments were conducted across five reef regions — the Lakshadweep archipelago, Goa, Palk Bay, Mahatma Gandhi Marine National Park (MGMNP) in the Andaman Islands, and Ritchie's Archipelago — with all surveys conducted between April 20 and June 7, 2024.
- Lakshadweep was the most affected region, with up to 37% of coral cover bleached or dead at intermediate heat stress levels, while MGMNP faced only 11.5% bleaching or mortality.
- The corals most affected across regions were Acropora, Pocillopora, Galaxea, and Montipora, while Pavona, Platygyra, Goniastrea, and Favites were among the least affected.
- In Palk Bay, Acropora corals showed only 13.6% bleaching or mortality, while generally resistant Porites colonies displayed 61.8% mortality, an unusual pattern.
- More than 80% of the world's coral reefs were affected by the fourth global coral bleaching event between 2023 and 2025, driven by long-term ocean warming, marine heatwaves, and a strong El Niño in 2023.
- The study highlights the shortage of data on coral reef bleaching impacts across South Asia compared with the rest of the world.
- With a very strong El Niño expected towards the end of 2026 and continuing into 2027, researchers plan another coordinated regional assessment to track bleaching progression and recovery.
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In 2025, coral cover in the Great Barrier Reef's northern region fell to 30% after its largest annual decline on record. The Australian Institute of Marine Science (AIMS) surveys conducted between August 2025 and June…
Anirudhan Vinod wins gold, Lohnath Arun Prasath takes silver for India at World Skate Games 2026
Key Updates:
- India's 16-year-old speed skater Anirudhan Vinod won gold in the junior men's one-lap road race at the World Skate Games 2026 in Asunción, Paraguay, clocking 30.394 seconds.
- Lohnath Arun Prasath of India secured silver in the same event, finishing just 0.025 seconds behind the gold medallist.
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17-year-old Kumkum Mohod won the women's recurve individual gold at the Aichi-Nagoya Asian Games, becoming India's first Asian Games recurve gold medallist and earning an Olympic quota for the 2028 LA Olympics. She…
India's Jagsher Singh Khangurra won a bronze medal in men's singles at the BWF World Junior Championships in Cairo, Egypt, after losing his semifinal to Indonesia's Radithya Bayu Wardhana 6-15, 15-13, 3-15. In the…
India beat Malaysia 5-1 in the men's hockey final at the Asian Games to retain the title and qualify for the 2028 Olympics, with captain Harmanpreet Singh scoring two goals and finishing as the tournament's top scorer…
IGPL will award Pranavi Urs ₹1 crore for winning the women's individual golf gold at the Asian Games in Aichi-Nagoya, making her the first Indian woman to win an Asian Games golf gold. The league will award ₹25 lakh…
Amruta Pujari of India takes silver in women's 72kg at U-23 World Wrestling Championships
Key Updates:
- India's Amruta Pujari won a silver medal in the women's 72-kilogram category at the Under-23 World Wrestling Championships in Las Vegas, United States.
- She lost 0-6 to Ukraine's Iryna Zablotska in the gold-medal bout.
- India's Komal earlier won a bronze medal in the women's 59-kilogram category at the championships.
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India's Komal won a bronze medal in the women's 59kg category at the Under-23 World Wrestling Championships held in Las Vegas, USA, defeating Kazakhstan's Viktoriia Khusainova 7-2 in the bronze-medal bout. En route…
INCOIS Chief T M Balakrishnan Nair Chosen to Head UNESCO-IOCINDIO
Key Updates:
- Dr T M Balakrishnan Nair, Director of the Hyderabad-based Indian National Centre for Ocean Information Services (INCOIS), has been elected Chair of the UNESCO Intergovernmental Oceanographic Commission's Sub-Commission for the Central Indian Ocean (IOCINDIO).
- Dr Turki Al-Saeed of Kuwait and Dr Rezah M Badal of Mauritius were elected Vice-Chairs of IOCINDIO, pending formal confirmation of their appointments.
- Dr Nair is a founding member of INCOIS with over 25 years of experience in operational oceanography, marine science and real-time ocean observation systems.
- Working under the Ministry of Earth Sciences, Dr Nair has led advancements in ocean state forecasting and marine meteorological services and has received the National Geoscience Award.
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The Indian National Centre for Ocean Information Services (INCOIS), Andhra University and Vignana Bharati launched the pilot phase of NIRMaL Sagar in Visakhapatnam to track and manage marine litter along the coast. The…
The Central Government has approved India's accession to the Southern Indian Ocean Fisheries Agreement (SIOFA), a strategic milestone in global fisheries governance. India has been a Cooperating Non-Contracting Party…
Dr. Srinivasa Kumar Tummala has been appointed as Secretary of the Ministry of Earth Sciences by the Appointments Committee of the Cabinet (ACC). His tenure is for a period of two years from the date of assuming charge.
