---
title: "Daily Current Affairs: 30 October 2026"
date_published: "2026-10-30"
date_modified: "2026-10-30T08:00:00+05:30"
language: "en-IN"
audience: "UPSC, SSC, banking and government exam aspirants"
content_type: "daily-current-affairs-briefing"
canonical_url: "https://www.dailyconnects.in/news/30_10_2026"
citation_url: "https://www.dailyconnects.in/news/30_10_2026"
content_url: "https://www.dailyconnects.in/news/30_10_2026.md"
---

# Daily Current Affairs: 30 October 2026

Daily current affairs for 30 October 2026 with exam-focused key facts, connected news context, and revision notes for UPSC, SSC, banking and government exams.

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## Editorial Note

Last updated: 30 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.

## Top Current Affairs To Revise Today

- Centre's fiscal deficit touches ₹7.14 lakh crore in H1 FY27 on elevated capital spending and subsidy outlays
- India's Foreign Exchange Reserves Fall to $719.748 Billion Amid RBI Dollar Sales and Resource Deployment
- Reserve Bank of India Data Shows Bank Credit Growth of 17.94% Surpassed Deposit Growth of 16.6%
- RBI Releases Sectoral Deployment of Bank Credit Data for September 2026
- CBIC directs immediate cessation of GST arrests pending statutory amendments
- Finance Ministry Constitutes High Level Committee on Banking for Viksit Bharat

## Centre's fiscal deficit touches ₹7.14 lakh crore in H1 FY27 on elevated capital spending and subsidy outlays

### Key Updates

- The Centre's fiscal deficit in the first half of FY 2026-27 reached ₹7.14 lakh crore, or 42.1% of the full-year target, up from 36.5% (₹5.73 lakh crore) a year earlier, per Controller General of Accounts data released on Friday.
- The government has set a fiscal deficit target of 4.3% of GDP, or ₹16.96 lakh crore, for FY27.
- Total expenditure rose 10.7% year-on-year to ₹25.49 lakh crore by September, equivalent to 47.7% of the full-year budget estimate.
- Spending on major subsidies rose 10.1% to ₹2.23 lakh crore in April-September, with food subsidy up 16% and petroleum subsidy down almost 83%.
- Capital expenditure reached ₹6.55 lakh crore, or 53.6% of the full-year budget estimate of ₹12.22 lakh crore, compared to 51.8% a year ago.
- Capex grew 12.7% in H1 FY27, requiring a 16.2% growth rate in the second half to meet the budget estimate.
- The government received ₹18.35 lakh crore (50.3% of budget estimate) in total receipts up to September, including ₹12.76 lakh crore of tax revenue (44.5% of BE) and ₹4.8 lakh crore of non-tax revenue.
- Gross tax revenue rose 6.1% year-on-year in April-September despite a sharp fall in excise duty collection due to petrol and diesel excise cuts.
- Customs duty collections grew 16.5% in the first half.
- In September, the fiscal deficit was ₹4,164 crore, against a surplus of ₹25,030 crore a year earlier.
- ₹6.99 lakh crore was transferred to states as devolution of taxes, ₹67,658 crore higher than the previous year.
- The government reduced its market borrowing for the fiscal by nearly ₹1.2 lakh crore.

### Related Current Affairs Coverage

- [Central public sector enterprises complete 51% of FY27 capex target in April-September](https://www.dailyconnects.in/current-affairs/2026/10/central-public-sector-enterprises-complete-51-of-fy27-capex-target-in-april-sept)
- [India's fiscal deficit reaches ₹7.1 lakh crore by August on higher capex and subsidy spending](https://www.dailyconnects.in/current-affairs/2026/10/india-s-fiscal-deficit-reaches-7-1-lakh-crore-by-august-on-higher-capex-and-subs)
- [Net direct tax collections grow 13.2% to Rs 13.38 lakh crore while STT revenues jump 51.6% in FY27](https://www.dailyconnects.in/current-affairs/2026/10/net-direct-tax-collections-grow-13-2-to-rs-13-38-lakh-crore-while-stt-revenues-j)

## India's Foreign Exchange Reserves Fall to $719.748 Billion Amid RBI Dollar Sales and Resource Deployment

### Key Updates

- India's foreign exchange reserves fell by $1.269 billion to $719.748 billion, according to the RBI data reported on October 30, 2026.
- The reserves had previously reached an all-time high of $785.706 billion for the week ended September 4, driven by a special concessional swap for diaspora deposits.
- The decline in reserves is attributed to the deployment of Foreign Currency Non-Resident (Bank) (FCNR(B)) resources and dollar sales by the Reserve Bank of India (RBI) to defend the rupee.
- The value of gold reserves decreased by $2.65 billion to $103.15 billion during the week.
- India's reserve position with the International Monetary Fund (IMF) decreased by $4 million to $4.787 billion.
- Special Drawing Rights (SDRs) increased by $27 million to $18.605 billion.
- The overall reserves dropped by $5.011 billion to $721.016 billion in the previous reporting week ended October 16.

### Related Current Affairs Coverage

- [India's foreign exchange reserves drop to $734.6 billion after fourth weekly fall](https://www.dailyconnects.in/current-affairs/2026/10/india-s-foreign-exchange-reserves-drop-to-734-6-billion-after-fourth-weekly-fall)
- [Reserve Bank of India data shows forex reserves fall $5.011 billion to $721.016 billion](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-data-shows-forex-reserves-fall-5-011-billion-to-721-016-bi)
- [RBI data shows India's forex reserves fall $8.58 billion to $726.03 billion for week ended October 9](https://www.dailyconnects.in/current-affairs/2026/10/rbi-data-shows-india-s-forex-reserves-fall-8-58-billion-to-726-03-billion-for-we)
- [Reserve Bank of India records $43.26 billion net forex purchase in August, offsetting impact with swaps](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-records-43-26-billion-net-forex-purchase-in-august-offsett)

## Reserve Bank of India Data Shows Bank Credit Growth of 17.94% Surpassed Deposit Growth of 16.6%

### Key Updates

- Bank credit grew at an annual rate of 17.94% to reach ₹232.54 lakh crore as of October 15, 2026.
- Bank deposits grew at 16.6% to stand at ₹284.37 lakh crore as of October 15, 2026.
- The higher credit growth is attributed to surplus liquidity, concessional foreign currency deposits, and the festive season in India.
- System liquidity in the banking system ranged between ₹2 lakh crore and ₹4.5 lakh crore between October 1 and October 15.
- The average daily net absorption under the LAF increased to ₹7.8 lakh crore in September 2026.
- Bank investments in central and state government securities rose 9.64% year-on-year to ₹77.32 lakh crore as of October 15, 2026.

### Related Current Affairs Coverage

- [Reserve Bank of India (RBI) Relaxes Weekly Access Rule for FCNR(B) Swap Facility for Transactions Above USD 100 Million](https://www.dailyconnects.in/current-affairs/2026/08/reserve-bank-of-india-rbi-relaxes-weekly-access-rule-for-fcnr-b-swap-facility-fo)
- [Reserve Bank of India data shows NBFC credit growth at 15.8% in August 2026 with retail loans up 22%](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-data-shows-nbfc-credit-growth-at-15-8-in-august-2026-with)
- [Bank Credit Rises 19.4% Year-on-Year in H1 FY27 as Credit-to-Deposit Ratio Hits 81%](https://www.dailyconnects.in/current-affairs/2026/10/bank-credit-rises-19-4-year-on-year-in-h1-fy27-as-credit-to-deposit-ratio-hits-8)
- [India's banking system deposits touch record ₹284 trillion on RBI dollar swap inflows](https://www.dailyconnects.in/current-affairs/2026/10/india-s-banking-system-deposits-touch-record-284-trillion-on-rbi-dollar-swap-inf)

## RBI Releases Sectoral Deployment of Bank Credit Data for September 2026

### Key Updates

- The Reserve Bank of India (RBI) released data on sectoral deployment of bank credit for September 2026, collected from 41 select scheduled commercial banks accounting for about 95 per cent of total non-food credit.
- Non-food bank credit grew by 19.1 per cent year-on-year as on the fortnight ended September 30, 2026, compared to 11.2 per cent a year earlier.
- Credit to agriculture and allied activities grew 19.5 per cent year-on-year, up from 8.9 per cent in the corresponding fortnight of the previous year.
- Credit to industry recorded a year-on-year growth of 19.5 per cent, compared with 7.7 per cent last year, with large and medium industries growing at an accelerated pace.
- Credit to the services sector registered a year-on-year growth of 28.3 per cent, supported by buoyant growth in NBFCs, trade, commercial real estate, transport operators and professional services.
- Credit to personal loans grew 17.3 per cent year-on-year, compared with 11.5 per cent a year ago, with housing and vehicle loans remaining resilient.
- Growth in loans against gold jewellery and education decelerated compared to last year, albeit remaining strong.
- With effect from December 31, 2025, the definition of last reporting fortnight was changed to the last day of the month under the Banking Laws (Amendment) Act 2025.

### Related Current Affairs Coverage

- [Reserve Bank of India data shows NBFC credit growth at 15.8% in August 2026 with retail loans up 22%](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-data-shows-nbfc-credit-growth-at-15-8-in-august-2026-with)
- [Reserve Bank of India (RBI) Consolidates Guidelines on Credit Facilities to Scheduled Castes and Scheduled Tribes in Master Circular](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-rbi-consolidates-guidelines-on-credit-facilities-to-schedu)
- [Bank Credit Rises 19.4% Year-on-Year in H1 FY27 as Credit-to-Deposit Ratio Hits 81%](https://www.dailyconnects.in/current-affairs/2026/10/bank-credit-rises-19-4-year-on-year-in-h1-fy27-as-credit-to-deposit-ratio-hits-8)
- [Ministry of Finance Secures USD 1 Billion IFC Funding to Boost Long-term MSME Credit](https://www.dailyconnects.in/current-affairs/2026/09/ministry-of-finance-secures-usd-1-billion-ifc-funding-to-boost-long-term-msme-cr)

## CBIC directs immediate cessation of GST arrests pending statutory amendments

### Key Updates

- Central Board of Indirect Taxes and Customs (CBIC) directed its field formations to immediately stop carrying out arrests under GST as an interim measure.
- The GST Council recommended withdrawal of arrest powers under GST by omission of Section 69 of the CGST Act, 2017.
- The proposed legislative amendments are to take effect from April 1, 2027.
- CBIC directed that show-cause notices will not be issued where the amount involved is below Rs 10,000.
- Conveyances can be intercepted only on the basis of specific intelligence authorised by an officer not below the rank of Joint Commissioner.

### Related Current Affairs Coverage

- [GST Council's Law Committee recommends raising prosecution threshold to ₹10 crore and reducing jail terms](https://www.dailyconnects.in/current-affairs/2026/10/gst-council-s-law-committee-recommends-raising-prosecution-threshold-to-10-crore)
- [CBIC notifies CGST rule change allowing small e-commerce sellers to use platform warehouses as principal place of business from November 1](https://www.dailyconnects.in/current-affairs/2026/10/cbic-notifies-cgst-rule-change-allowing-small-e-commerce-sellers-to-use-platform)
- [CBIC mandates proof of intent to evade tax before invoking GST fraud provisions](https://www.dailyconnects.in/current-affairs/2026/10/cbic-mandates-proof-of-intent-to-evade-tax-before-invoking-gst-fraud-provisions)
- [GST Council-approved revamp of GST return forms to curb mismatches; drafts open for public feedback from November 1](https://www.dailyconnects.in/current-affairs/2026/10/gst-council-approved-revamp-of-gst-return-forms-to-curb-mismatches-drafts-open-f)

## Finance Ministry Constitutes High Level Committee on Banking for Viksit Bharat

### Key Updates

- The Finance Ministry has established the High Level Committee on Banking for Viksit Bharat to recommend structural, institutional, regulatory, and legislative reforms for the banking sector.
- The committee is chaired by Suresh N. Patel, who is a former Central Vigilance Commissioner.
- The committee includes three members: Shirish Chandra Murmu (Deputy Governor, Reserve Bank of India), Padmaja Chunduru (Former MD & CEO, Indian Bank), and N S Vishwanathan (Former Deputy Governor, Reserve Bank of India).
- The Joint Secretary (Banking) of the Department of Financial Services serves as the Member Secretary of the committee.
- The committee has been granted a tenure of six months to complete its mandate.
- The committee is tasked with creating a roadmap for AI and digital innovation in banking while implementing safeguards against cyber risks.
- The terms of reference include reviewing the Priority Sector Lending framework and the Lead Bank Scheme to enhance credit delivery efficiency.
- The committee will assess long-term capital requirements for banks, development financial institutions, and non-banking financial companies.

### Related Current Affairs Coverage

- [Government Sets Up Three-Member Committee to Review Uniform Code for Pharmaceutical Marketing Practices and Its Enforcement](https://www.dailyconnects.in/current-affairs/2026/10/government-sets-up-three-member-committee-to-review-uniform-code-for-pharmaceuti)
- [Supreme Court Sets November 30 Deadline for Aravalli Panel](https://www.dailyconnects.in/current-affairs/2026/09/supreme-court-sets-november-30-deadline-for-aravalli-panel)
- [Reserve Bank of India retains 3.5% minimum leverage ratio for G-SIB branches, effective April 1, 2027](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-retains-3-5-minimum-leverage-ratio-for-g-sib-branches-effe)
- [Finance Ministry says public sector banks hit record Rs 1.98 lakh crore profit in FY26 as GNPA falls to 1.93%](https://www.dailyconnects.in/current-affairs/2026/10/finance-ministry-says-public-sector-banks-hit-record-rs-1-98-lakh-crore-profit-i)

## World Bank highlights India's rapid poverty reduction, noting extreme poverty fell from 27.1% to 2.6%

### Key Updates

- India lifted an estimated 496 million people out of poverty between 2011 and 2023.
- The share of the population living in extreme poverty declined sharply from 27.1% to 2.6% according to the World Bank's October 2026 Poverty and Equity Brief.
- The proportion of people living below the lower-middle-income poverty line of USD 4.20 per day, measured at 2021 purchasing power parity, fell from 57.7% to 16.1% during the period.
- The Multidimensional Poverty Index, measured by the Oxford Poverty and Human Development Initiative, fell from 53.8% in 2005-06 to 16.4% in 2019-21.
- Employment increased by 134 million people between 2017 and 2023, which was nearly twice the growth in the working-age population.
- The World Bank projects the poverty rate at the USD 4.20-a-day threshold could fall from 14.2% in 2026 to 12.1% by 2028.

### Related Current Affairs Coverage

- [Action Against Hunger report lists Pakistan among 10 countries with world's most severe food crises](https://www.dailyconnects.in/current-affairs/2026/10/action-against-hunger-report-lists-pakistan-among-10-countries-with-world-s-most)
- [World Bank Places India Among Top 10 Emerging Markets on AI Readiness](https://www.dailyconnects.in/current-affairs/2026/10/world-bank-places-india-among-top-10-emerging-markets-on-ai-readiness)
- [Union Minister Ashwini Vaishnaw Launches World Bank Group's World Development Report 2026 on Artificial Intelligence in New Delhi](https://www.dailyconnects.in/current-affairs/2026/10/union-minister-ashwini-vaishnaw-launches-world-bank-group-s-world-development-re)
- [UNCTAD Trade and Development Report 2026: India To Grow 7.3% in 2026, Fastest Among Large Economies](https://www.dailyconnects.in/current-affairs/2026/10/unctad-trade-and-development-report-2026-india-to-grow-7-3-in-2026-fastest-among)

## RBI data shows large industry loans hit six-year high of ₹33 lakh crore

### Key Updates

- Reserve Bank of India (RBI) data released on October 30, 2026 shows large industry loans rose 16% to ₹33 lakh crore in the fortnight ended September 30, 2026, the highest in six years.
- The year-on-year growth rate of 16% was threefold compared with the 5% growth in the same fortnight of September 2025, when loans stood at ₹28.6 lakh crore.
- Overall bank credit grew 19.4% to ₹229.95 lakh crore in the fortnight ended September 30, 2026, compared with 8.9% growth a year earlier.

### Related Current Affairs Coverage

- [Equity Mutual Fund Inflows Surge 31% To Rs 38,306.55 Crore In September 2026 While Monthly SIP Contributions Reach Record Rs 32,490 Crore](https://www.dailyconnects.in/current-affairs/2026/10/equity-mutual-fund-inflows-surge-31-to-rs-38-306-55-crore-in-september-2026-whil)
- [IRDAI data shows life insurers’ first-year premium grew 20.6% to ₹2.46 lakh crore in April–September FY26](https://www.dailyconnects.in/current-affairs/2026/10/irdai-data-shows-life-insurers-first-year-premium-grew-20-6-to-2-46-lakh-crore-i)
- [Microfinance institutions hold 43% of ₹3.3 lakh crore loan portfolio in June 2026, per TransUnion CIBIL data](https://www.dailyconnects.in/current-affairs/2026/10/microfinance-institutions-hold-43-of-3-3-lakh-crore-loan-portfolio-in-june-2026)
- [Minister Jitan Ram Manjhi announces ₹1,000 crore subsidy under PMEGP for 11,333 micro enterprises](https://www.dailyconnects.in/current-affairs/2026/10/minister-jitan-ram-manjhi-announces-1-000-crore-subsidy-under-pmegp-for-11-333-m)

## Bank of Japan Keeps Policy Rate at 1.25% as Underlying Inflation Reaches 2% Target

### Key Updates

- The Bank of Japan (BOJ) held its benchmark policy rate unchanged at 1.25% at the end of a two-day meeting on Friday, October 30, 2026, and indicated for the first time that underlying inflation has reached its 2% target.
- The rate decision was made by an 8-1 vote, with Hajime Takata dissenting in favor of a rate hike.
- More than 80% of economists expect another rate hike in December, and the BOJ said it is vital to keep inflation around the current level while warning of upside risks.
- The BOJ announced it would nearly triple the pace of selling its Exchange-Traded Fund holdings starting in January, at about ¥860 billion ($5.5 billion) per year, a pace that would take about 43 years to complete.
- The yen strengthened to around 157.12 per dollar from 157.52 just before the decision.
- Japan's benchmark rate is at a 31-year high; the BOJ last raised rates on September 18, three months after a June hike, the shortest interval between increases since 1990.
- The BOJ was the last of three major central banks to meet this week, with the Federal Reserve and European Central Bank also holding rates; last month all three raised rates in sync for the first time.
- Governor Kazuo Ueda's press briefing was scheduled for around 3:30 p.m. local time, where investors looked for signals on the next hike.

### Related Current Affairs Coverage

- [Reserve Bank of India (RBI) MPC Raises Repo Rate by 25 Bps to 5.50%, Shifts Stance to Calibrated Tightening](https://www.dailyconnects.in/current-affairs/2026/10/reserve-bank-of-india-rbi-mpc-raises-repo-rate-by-25-bps-to-5-50-shifts-stance-t)
- [Bank of Japan summary signals policy shift to preventing inflation from exceeding 2% target](https://www.dailyconnects.in/current-affairs/2026/10/bank-of-japan-summary-signals-policy-shift-to-preventing-inflation-from-exceedin)
- [US Federal Reserve leaves benchmark rate near 3.9% as inflation stays above target](https://www.dailyconnects.in/current-affairs/2026/10/us-federal-reserve-leaves-benchmark-rate-near-3-9-as-inflation-stays-above-targe)
- [Bank of Japan Lifts Key Rate to 1.25%, Highest Since 1995, to Fight Rising Prices](https://www.dailyconnects.in/current-affairs/2026/09/bank-of-japan-lifts-key-rate-to-1-25-highest-since-1995-to-fight-rising-prices)

## Government Extends Customs Duty Exemption on Cotton Imports till December 31, 2026

### Key Updates

- The Centre extended the exemption from customs duty on cotton imports by two months till December 31, 2026, via a Gazette notification; the waiver was earlier scheduled to expire on October 31.
- India had initially removed the 11% import duty on cotton from June 1 to October 31 to augment supplies during the lean season and support the textile industry.
- Cotton is trading above ₹9,000 per 100 kg, higher than the government's minimum support price of ₹8,717 per 100 kg for the new season.
- India's cotton production in 2026-27 is estimated below 29 million bales, while demand is expected to exceed 34 million bales.
- The stock-to-use ratio is around 31%, the lowest level in five years.
- India's cotton imports rose 63% year-on-year to $1.1 billion during the first six months of FY27.

### Related Current Affairs Coverage

- [RoDTEP scheme extended to December 2026 as India boosts export insurance cover to 95%](https://www.dailyconnects.in/current-affairs/2026/10/rodtep-scheme-extended-to-december-2026-as-india-boosts-export-insurance-cover-t)
- [India-UK CETA: Exports to UK rise 8% while imports fall 17% in first two months](https://www.dailyconnects.in/current-affairs/2026/10/india-uk-ceta-exports-to-uk-rise-8-while-imports-fall-17-in-first-two-months)
- [India extends duty-free raw sugar import deadline to December 31 under tariff rate quota](https://www.dailyconnects.in/current-affairs/2026/10/india-extends-duty-free-raw-sugar-import-deadline-to-december-31-under-tariff-ra)
- [Centre extends RoDTEP export duty refund scheme by three months to December 31, 2026](https://www.dailyconnects.in/current-affairs/2026/10/centre-extends-rodtep-export-duty-refund-scheme-by-three-months-to-december-31-2)

## IRDAI designates November 2026 for month-long insurance grievance resolution drive

### Key Updates

- Insurance Regulatory and Development Authority of India (IRDAI) declared November 2026 as 'Grievance Resolution Month' across the insurance industry to expedite pending policyholder complaints.
- As of March 2026, approximately 2.21 lakh insurance-related cases were pending before Consumer Commissions and Judicial Courts, with 72.49% pending over a year.
- Around 11 lakh cases were pending before the Motor Accidents Claims Tribunal (MACT) as per IRDAI data.
- IRDAI upgraded its Business Analytics Platform (BAP) to integrate health regulatory returns and Unique Identification Number (UIN) generation for new health insurance products.

### Related Current Affairs Coverage

- [Insurance Regulatory and Development Authority of India (IRDAI) proposes Public Insurance Registry as Digital Public Infrastructure](https://www.dailyconnects.in/current-affairs/2026/09/insurance-regulatory-and-development-authority-of-india-irdai-proposes-public-in)
- [IRDAI Fines IndusInd Bank ₹1 Crore Over Insurance Grievance Redressal Lapses](https://www.dailyconnects.in/current-affairs/2026/09/irdai-fines-indusind-bank-1-crore-over-insurance-grievance-redressal-lapses)
- [DARPG's 53rd CPGRAMS Monthly Report Records 2,38,579 Grievances Redressed by Central Ministries/Departments in September 2026](https://www.dailyconnects.in/current-affairs/2026/10/darpg-s-53rd-cpgrams-monthly-report-records-2-38-579-grievances-redressed-by-cen)

## Ministry of Labour and Employment Establishes National Social Security Board for Gig and Unorganized Workers

### Key Updates

- The Ministry of Labour and Employment has notified the National Social Security Board (NSSB) for unorganized, gig, and platform workers.
- The NSSB is established under the Code on Social Security, which came into force in November 2025.
- The NSSB is mandated to advise the Central Government on designing, implementing, and monitoring social welfare schemes for workers.
- The board's composition includes representatives from central and state governments, prominent aggregator companies, employers, civil society organizations, and workers' unions.
- The NSSB is required to meet at least thrice a year to deliberate on policies related to these workers.
- The Social Security Code merges nine existing Social Security Acts into a single framework to ensure universal social protection for all workers.
- The Social Security Code promotes ease of doing business through digital records, decriminalization, and a technology-driven inspector cum facilitator system.

### Related Current Affairs Coverage

- [Karnataka Moves Supreme Court Against Bike Taxi Ruling, Cites Safety and Insurance Concerns](https://www.dailyconnects.in/current-affairs/2026/08/karnataka-moves-supreme-court-against-bike-taxi-ruling-cites-safety-and-insuranc)
- [Pension Fund Regulatory and Development Authority to Open NPS Accounts for Gig Workers via e-Shram Database](https://www.dailyconnects.in/current-affairs/2026/10/pension-fund-regulatory-and-development-authority-to-open-nps-accounts-for-gig-w)

## Prime Minister releases 24th instalment of Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme

### Key Updates

- Prime Minister Narendra Modi released the 24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) scheme from Banaskantha, Gujarat.
- The government transferred over Rs 18,690 crore to more than 9.34 crore farmers across India.
- Beneficiaries in Odisha received Rs 3,000 crore as part of this nationwide instalment.
- Financial assistance was provided to over 35.38 lakh farmers in Odisha through Direct Benefit Transfer (DBT).
- Chief Minister Mohan Charan Majhi participated in the event virtually from Bhubaneswar during a state-level PM-Kisan Utsav.

### Related Current Affairs Coverage

- [Maharashtra releases third list of 3.51 lakh farmers under Puneashlok Ahilyadevi Holkar Loan Waiver Scheme](https://www.dailyconnects.in/current-affairs/2026/10/maharashtra-releases-third-list-of-3-51-lakh-farmers-under-puneashlok-ahilyadevi)
- [Union Cabinet Approves Continuation of PM-KISAN Scheme Till 2030-31 with ₹3.15 Lakh Crore Outlay](https://www.dailyconnects.in/current-affairs/2026/08/union-cabinet-approves-continuation-of-pm-kisan-scheme-till-2030-31-with-3-15-la)
- [PMAY-Gramin 2.0: Centre Sanctions 3 Lakh Houses Worth ₹3,600 Crore for Andhra Pradesh; Foundation Laid for India's First 3D Concrete-Printed Housing Project](https://www.dailyconnects.in/current-affairs/2026/10/pmay-gramin-2-0-centre-sanctions-3-lakh-houses-worth-3-600-crore-for-andhra-prad)
- [Minister Jitan Ram Manjhi announces ₹1,000 crore subsidy under PMEGP for 11,333 micro enterprises](https://www.dailyconnects.in/current-affairs/2026/10/minister-jitan-ram-manjhi-announces-1-000-crore-subsidy-under-pmegp-for-11-333-m)

## Indian government approves Rs 40,000 crore project to build eight next-generation stealth corvettes for the Navy

### Key Updates

- The Cabinet Committee on Security (CCS), headed by Prime Minister Narendra Modi, approved a project worth over Rs 40,000 crore to build eight Next-Generation Corvettes (NGC) for the Indian Navy.
- A contract is expected soon with Kolkata-based Garden Reach Shipbuilders & Engineers (GRSE) and Goa Shipyard Limited (GSL), with deliveries expected to begin by 2030.
- The warships are based on an indigenous design developed in-house by the Navy, will be high-speed and agile with a speed of around 30 knots, and will complement the existing four Kamorta-class corvettes.
- The NGC programme will bolster anti-surface warfare, anti-submarine warfare and coastal warfare capabilities, and provide persistent surveillance across the Indian Ocean Region.
- The original Acceptance of Necessity for the project was granted by the Defence Acquisition Council in June 2022 at an approximate cost of Rs 36,000 crore.

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- [BCGCL commences construction on its ₹25,000 crore coal gasification project in Odisha](https://www.dailyconnects.in/current-affairs/2026/10/bcgcl-commences-construction-on-its-25-000-crore-coal-gasification-project-in-od)
- [DAC chaired by Rajnath Singh approves defence capital acquisition proposals of about ₹2.12 lakh crore for Army, Navy and Air Force](https://www.dailyconnects.in/current-affairs/2026/10/dac-chaired-by-rajnath-singh-approves-defence-capital-acquisition-proposals-of-a)
- [Rahul Navin's Tenure Extended as Enforcement Directorate (ED) Director](https://www.dailyconnects.in/current-affairs/2026/08/rahul-navin-s-tenure-extended-as-enforcement-directorate-ed-director)

## India's SEBI Signs MoU with Bank of England for Cross-Border Clearing Cooperation

### Key Updates

- The Securities and Exchange Board of India (SEBI) and the Bank of England (BoE) signed a memorandum of understanding (MoU) to strengthen regulatory cooperation and information exchange concerning SEBI-recognised clearing corporations, announced on October 28, 2026.
- The MoU establishes a framework for cooperation between the two regulators regarding central counterparties, in accordance with their respective laws and regulations.
- Under the MoU, the Bank of England can place reliance on SEBI's regulatory and supervisory activities while safeguarding the financial stability of the United Kingdom.
- The agreement aims to facilitate international clearing activities through cross-border regulatory cooperation and information sharing.

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## Asian Development Bank grants $139.55 million loan to Puducherry for urban infrastructure and water system upgrades

### Key Updates

- The Asian Development Bank (ADB) approved a $139.55 million loan to Puducherry to improve urban infrastructure and municipal governance.
- The funding, under the Puducherry Integrated Urban Livability Improvement Project, aims to support the development of climate-resilient water supply and sanitation infrastructure.
- The project includes upgrading 100 kilometers of water supply network and laying 80 kilometers of new pipelines.
- The plan involves building 270 kilometers of underground sewer network and rehabilitating 80 kilometers of existing sewer network.
- A new sewage treatment plant with a capacity of 50 million liters per day is to be established.
- The ADB will also upgrade urban public spaces by constructing 4.5 kilometers of pedestrian walkways accessible to persons with disabilities.
- The ADB Country Director for India, Mio Oka, stated that the project marks the bank's first engagement in the Union Territory of Puducherry.

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- [Government of India and Asian Development Bank (ADB) sign $230 million loan for Chennai water and sanitation infrastructure](https://www.dailyconnects.in/current-affairs/2026/08/government-of-india-and-asian-development-bank-adb-sign-230-million-loan-for-che)

## Telecom regulator TRAI releases draft guidelines requiring board-approved AI policies and incident reporting by telecom operators

### Key Updates

- The Telecom Regulatory Authority of India (TRAI) on October 30, 2026 released draft 'Guidelines on Responsible Use of AI in Telecommunication Networks and Provision of Telecommunication Services' for stakeholder comments, requiring service providers to adopt board-approved AI policies, set up governance and safety committees, and report serious AI-related incidents to the regulator.
- Under the draft framework, entities must classify AI systems into high-, medium- and low-risk categories based on significance to network operations, financial and operational outcomes and implications for consumers.
- Each entity must frame an internal AI policy approved by its board of directors, covering risk classification, deployment approvals, incident management, human oversight, data governance and consumer grievance redressal, with all AI systems subject to predefined human oversight.
- AI-related incidents will be classified into critical, high, moderate and low severity, with critical and high-severity incidents mandatorily reported to TRAI in a prescribed format, manner and timeframe.
- Telecom companies must maintain central databases of AI incidents and consumer complaints involving AI-related harm, with mechanisms for investigation, mitigation and resolution.
- TRAI said entities will be accountable for the outcomes of AI systems deployed in their networks and services irrespective of whether the AI is developed internally, procured or outsourced, and the guidelines aim to ensure consistent implementation of the India AI Governance Guidelines in the telecom sector.

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- [RBI directs regulated entities to forensically verify systems before reuse after data breaches](https://www.dailyconnects.in/current-affairs/2026/10/rbi-directs-regulated-entities-to-forensically-verify-systems-before-reuse-after)

## ICAR-IARI trials show iron ore tailings boost crop yields and cut fertilizer use in agriculture

### Key Updates

- ICAR-Indian Agricultural Research Institute (ICAR-IARI) signed a long-term memorandum of understanding with ArcelorMittal Nippon Steel (AMNS), running until 2029, for research on using iron ore tailings in agriculture.
- Preliminary studies since 2024 showed crop yields improved by 10-15 per cent and chemical fertilizer use fell by 20 per cent in paddy, wheat, brinjal and lady's finger cultivation with valorised iron ore tailings.
- The team characterised six batches of AMNS iron ore tailings and found them free of toxic heavy metals but rich in iron.
- Experiments at the AMNS site in Chhattisgarh used soil mixed with 5-50 per cent iron ore tailings, with paddy trials run for two seasons and wheat tested in pots.
- Scientists used biological consortia of iron-solubilising bacteria and fungi, since tailings nutrients are mostly in less-soluble oxide forms, to improve uptake of iron and zinc by plants.
- Nearly 12 per cent of India's cultivable land is iron deficient and 49 per cent of soils are zinc deficient; the project aims to improve iron and zinc content in crops through biofortification.
- Initial pot experiments used a 600 kg per hectare formula, and large-scale trials on ICAR-IARI plots were set to begin from November, including farmer trials in 10 villages in Chhattisgarh using organic amendments.

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- [NMDC Commissions ₹5,427-Crore Integrated Iron Ore Project in Chhattisgarh](https://www.dailyconnects.in/current-affairs/2026/09/nmdc-commissions-5-427-crore-integrated-iron-ore-project-in-chhattisgarh)

## Bombay High Court stops notification of estimated Scheduled Tribes population in Goa, impacting reserved seats

### Key Updates

- The Bombay High Court at Goa issued an interim order restraining the Census Commissioner from notifying the estimated Scheduled Tribes population in the state.
- The legal challenge was brought by petitioner Edwin Lucio Fernandes against the Readjustment of Representation of Scheduled Tribes in Assembly Constituencies of the State of Goa Act, 2025.
- The interim order is likely to put the process of reserving four seats for Scheduled Tribes in the upcoming Legislative Assembly elections on hold.
- The court questioned the Census Commissioner's presumption that 9.9 percent of Goa's population is Scheduled Tribe, noting the Commissioner could not ascertain current population figures.
- Goa Chief Minister Pramod Sawant stated that the state government will urge the Central Government to approach the Supreme Court to protect the interests of the Scheduled Tribe community.

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