1 October 2026
A Supreme Court bench of Justice M M Sundresh and Justice P B Varale declined to interfere with the freezing of four Indian Bank accounts of the Trinamool Congress. The bench said it was not inclined to exercise its jurisdiction under Article 136 of the Constitution and refrained from going into the merits. It requested the Calcutta High Court to expedite the hearing of the main matter, where proceedings on the frozen funds are pending. The accounts, at the Harish Mukherjee Road branch of Indian Bank, were frozen by the West Bengal Police following a complaint filed on 18 June 2026 by MLA Biswanath Das. The party told the court that it needs ₹12.15 crore a month for its operations. The Calcutta High Court had on 27 August 2026 declined interim relief to operate these four accounts.
Bench:
Justice M M Sundresh and Justice P B Varale
Accounts frozen:
Four, at Indian Bank, Harish Mukherjee Road branch
Monthly requirement stated by the party:
₹12.15 crore
Why it matters for exams: Article 136 and the Supreme Court's discretionary special leave jurisdiction are standard polity questions, and this order shows how that discretion is exercised.
Kerala PSCUPSC
In plain words
Article 136 Special leave to appeal by the Supreme Court — It lets the Supreme Court grant special leave to appeal from any judgment or order of any court or tribunal in India, at its discretion.
1 October 2026
The Indian Air Force is conducting the multilateral air exercise Tarang Shakti 2026 at Air Force Station Jodhpur from 26 September to 12 October 2026. The theme of the exercise is 'Power in Partnership'. Seven friendly foreign countries are taking part: Australia, the United States, the United Arab Emirates, France, Germany, Sri Lanka and Bangladesh, with further observer nations. Aircraft taking part include the F-35 Lightning II, Rafale, F-16, A400M, MRTT, C-130, C-130J and KC-30A, covering combat, airlift and air-to-air refuelling roles. The Ministry of Defence said the exercise offers advanced joint training, exchange of operational expertise and consolidation of professional experience. Alongside flying, the programme includes seminars, industrial tours, heritage visits, a marathon and yoga sessions.
Dates:
September 26 – October 12, 2026
Venue:
Air Force Station Jodhpur
Foreign air forces:
Seven
Theme:
Power in Partnership
Why it matters for exams: Exercise names, their hosts and the list of participating countries are frequently asked in defence current affairs.
Kerala PSCUPSC
In plain words
MRTT Multi Role Tanker Transport — An aircraft that refuels other aircraft in flight and can also carry cargo or troops.
IAF Indian Air Force — The air arm of the Indian armed forces.
1 October 2026
Prime Minister Narendra Modi spoke with United States President Donald Trump by telephone, the Prime Minister's Office said in a release issued on 30 September 2026. The release said the two leaders reviewed progress in bilateral cooperation across trade, defence, energy, critical technologies and other areas of mutual interest. They reaffirmed their commitment to advancing the India-US Comprehensive Global Strategic Partnership. The leaders also exchanged views on regional and international developments and discussed ongoing efforts to promote global peace and security. They agreed to maintain close engagement to deepen cooperation for the benefit of the people of both countries and to remain in touch.
Date of release:
30 September 2026
Issued by:
Prime Minister's Office
Partnership named:
India-US Comprehensive Global Strategic Partnership
Why it matters for exams: The formal name of the India-US partnership and the areas covered in leader-level talks are commonly tested.
Kerala PSCUPSC
In plain words
PMO Prime Minister's Office — The office that supports the Prime Minister of India and issues readouts of his engagements.
1 October 2026
India won four gold medals on 30 September 2026, Day 11 of the Asian Games. The women's compound archery team of Jyothi Surekha Vennam, Chikitha Taniparthi and Prithika Pradeep beat China 238-234 in the final, equalling the world record set by South Korea at the 2014 Incheon Asian Games. Chikitha Taniparthi and Sahil Jadhav won the compound mixed team final against South Korea in a shoot-off, and the win made India the first country to qualify for the compound mixed team event at the 2028 Los Angeles Olympics. The men's compound team of Kushal Dalal, Sahil Jadhav and Ganesh Mani Ratnam Thirumuru beat China 238-237. In shooting, Neeru Dhanda and Kynan Chenai took the trap mixed team gold with a score of 34, surpassing the Asian record of 30 set by Qatar earlier in the year. Sahil Jadhav won two golds on the day and Neeru Dhanda took her second gold after the individual trap title on 29 September.
Golds on the day:
Four
Women's compound team final:
India beat China 238-234
Men's compound team final:
India beat China 238-237
Trap mixed team score:
34
Why it matters for exams: Medal winners, events and record marks at a continental Games are standard sports current-affairs questions.
Kerala PSCUPSC
In plain words
Compound Compound bow archery — An archery discipline using a pulley-assisted bow; its mixed team event makes its Olympic debut at Los Angeles 2028.
Shoot-off Tie-breaking shot — A single extra arrow or round used to decide a tied archery or shooting match.
1 October 2026
The Ministry of Defence announced in a release on 1 October 2026 that Indian Naval Ship Trishul arrived at Toulon, France, on 22 Sep 2026 to take part in the 24th edition of Exercise 'Varuna'. Varuna is the annual bilateral maritime exercise between the Indian Navy and the French Navy. The harbour phase comprised professional, sporting and cultural engagements, and the Commanding Officer of INS Trishul called on RAdm Mackara Ouk, Deputy Commander-in-Chief for Operations (CECMED). The Commanding Officer, officers and crew laid a wreath at the Mazargues War Memorial, Marseille, in remembrance of 205 Indian soldiers who made the supreme sacrifice during the World Wars. The crew also visited the French Navy ships Charles de Gaulle, Forbin and La Fayette. During the Sea Phase, INS Trishul exercised alongside French Navy units including FDA Forbin, FLF La Fayette and SNA Suffren, as well as NH90 helicopters and Atlantique 2 maritime patrol aircraft. Anti-submarine, anti-surface and live-firing exercises along with cross-deck helicopter landing serials were carried out.
Exercise:
Varuna, 24th edition
Indian ship:
INS Trishul
Port of arrival:
Toulon, France, on 22 Sep 2026
War memorial:
Mazargues War Memorial, Marseille, for 205 Indian soldiers
Why it matters for exams: The name, edition number, partner navy and participating ships of India's bilateral exercises are asked directly in defence sections.
Kerala PSCUPSC
In plain words
Varuna India-France bilateral maritime exercise — The annual naval exercise between the Indian Navy and the French Navy.
PIB Press Information Bureau — The Government of India's agency for issuing official releases to the press.
1 October 2026
The Ministry of Consumer Affairs, Food and Public Distribution announced revised sugar stock holding norms in a release on 1 October 2026, as the new sugar season began on 1st October. The stock holding period for sugar dealers has been reduced to 15 days and the stock holding limit fixed at 1,000 quintals, with effect from 15 October 2026 to 30 November 2026. A dealer shall not hold sugar stock for a period exceeding 15 days from the date of receipt of such stock, and shall not hold more than 1,000 quintals at any time and at any place across the country. The limit has been fixed at 2,000 quintals for Kolkata and its extended metropolitan areas and the State of Assam. The Ministry said Kolkata sources sugar from Uttar Pradesh, Maharashtra and Karnataka and supplies the eastern part of the country including the North-Eastern region, while the higher limit for Assam reflects geographical constraints and transportation logistics. Average retail sugar prices have declined by 15 per cent from their August peak and ex-mill sugar prices have declined by approximately 28 per cent. The Ministry stated that sugarcane farmers and consumers are the two central pillars of India's sugar policy.
Stock holding period:
15 days
Stock holding limit:
1,000 quintals
Limit for Kolkata and Assam:
2,000 quintals
Period of effect:
15 October 2026 to 30 November 2026
Retail price decline:
15 per cent from the August peak
Ex-mill price decline:
Approximately 28 per cent
Why it matters for exams: Stock holding limits, their effective dates and the regional exceptions are precise, examinable facts on food management.
Kerala PSCUPSC
In plain words
Quintal A unit of weight equal to 100 kilograms — Stock limits for food commodities in India are commonly set in quintals.
Ex-mill price The price at which a mill sells its output — It is the price before wholesale and retail margins are added.
1 October 2026
The Reserve Bank of India released data on India's International Investment Position (IIP) for end-June 2026 in a press release dated 30 September 2026. Net claims of non-residents on India increased by US$ 16.5 billion during Q1:2026-27 to US$ 220.3 billion as at end-June 2026. The RBI attributed this mainly to an increase in external liabilities by US$ 11.6 billion and a decline of US$ 4.9 billion in the foreign-owned assets. The ratio of India's international assets to international liabilities moderated to 84.6 per cent in June 2026 from 85.7 per cent a quarter ago. The rise in foreign liabilities of Indian residents was mainly on account of increased direct investment of US$ 15.7 billion and other investment of US$ 4.2 billion, compensating for a decline of US$ 14 billion in portfolio equity investments. Reserve assets accounted for 55.1 per cent of India's international financial assets, while overseas direct investment accounted for over one fourth share. The share of debt liabilities in total external liabilities stood at 56.9 per cent as on end-June 2026. India's total international assets stood at US$ 1,212.5 billion in June 2026.
Net claims of non-residents:
US$ 220.3 billion at end-June 2026
Change during Q1:2026-27:
Increase of US$ 16.5 billion
Assets to liabilities ratio:
84.6 per cent, from 85.7 per cent a quarter ago
Share of reserve assets:
55.1 per cent of international financial assets
Share of debt liabilities:
56.9 per cent of total external liabilities
Why it matters for exams: The International Investment Position is a standard RBI data release whose headline figures and ratios are asked in economy sections.
Kerala PSCUPSC
In plain words
IIP International Investment Position — A statement of the stock of a country's external financial assets and liabilities at a point in time.
Reserve assets External assets held by the central bank — They include foreign currency assets, gold and the reserve position in the IMF.
1 October 2026
The Reserve Bank of India on 1 October 2026 issued four Amendment Directions that simplify the approval process for subsequent acquisitions of major shareholding in a banking company by mutual funds, insurance companies and pension funds.
They are the Reserve Bank of India (Commercial Banks – Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026, and the corresponding Amendment Directions, 2026 for Small Finance Banks, Payments Banks and Local Area Banks.
All four shall come into immediate effect.
The draft, titled Reserve Bank of India (Acquisition and Holding of Shares or Voting Rights) Amendment Directions, 2026, had been issued through a press release dated 14 July 2026, seeking comments and feedback from regulated entities and members of the public on or before 4 August 2026.
The feedback received was examined and the consequent modifications were suitably incorporated in the final Amendment Directions, with a statement on the feedback provided in the Annex.
The press release is signed by Brij Raj, Chief General Manager, and carries the number Press Release: 2026-2027/1233.
Date of issue:
1 October 2026
Classes of banks covered:
Commercial Banks, Small Finance Banks, Payments Banks and Local Area Banks
Investor categories covered:
Mutual funds, insurance companies and pension funds
Draft issued / comments due:
14 July 2026 / on or before 4 August 2026
Press Release number:
2026-2027/1233
Why it matters for exams: Banking and regulatory questions often ask which categories of investors need RBI approval for major shareholding and which classes of banks a Direction covers.
Kerala PSCUPSC
In plain words
Amendment Directions Directions issued by the RBI to amend existing Directions — The Reserve Bank regulates banks through Directions, and amends them by issuing Amendment Directions that state the date from which they take effect.
Local Area Bank Local Area Bank — A small private bank licensed by the Reserve Bank to operate in a limited number of contiguous districts.
1 October 2026
The National Statistics Office (NSO) of the Ministry of Statistics and Programme Implementation is conducting the Forward-Looking Survey on Private Corporate Sector CAPEX Investment Intentions, called CAPEX 2026, during October to December 2026.
This is the third round. The inaugural survey, CAPEX 2024, was conducted between November 2024 and January 2025 and the second during October–December 2025.
The survey collects capital expenditure undertaken in recent financial years, provisional capital expenditure in the current financial year and investment intentions for the forthcoming financial year, along with investment strategy, objectives, sources of financing and investment in green energy and robotics.
The survey frame is prepared from active enterprises registered with the Ministry of Corporate Affairs, subject to prescribed eligibility and turnover criteria, and the survey is conducted under the provisions of the Collection of Statistics Act, 2008.
Enterprises self-compile and submit responses on a dedicated and secure web portal, which offers an instruction manual, a video guide, an AI chatbot and a bilingual questionnaire.
CAPEX 2025 had found that in provisional aggregate capital expenditure for 2025-26, manufacturing accounted for the largest share at 50.17%, amounting to ₹5,73,900 crore, followed by information and communication at 16.38% or ₹1,87,395 crore.
From CAPEX 2025, a fixed panel of 3,819 enterprises showed an overall realisation ratio of 96.3% for the capital expenditure actually incurred in 2024-25, and a modest growth of 1.9% over the actual CAPEX reported by these enterprises in 2024-25.
Survey period:
October–December 2026
Conducting agency:
National Statistics Office (NSO), MoSPI
Legal basis:
Collection of Statistics Act, 2008
Manufacturing share, provisional 2025-26 (CAPEX 2025):
50.17%, ₹5,73,900 crore
Fixed panel and realisation ratio:
3,819 enterprises; 96.3%
Why it matters for exams: Official surveys and the Act under which they are conducted, together with sector shares in private capital expenditure, are frequently asked in economy and statistics questions.
Kerala PSCUPSC
In plain words
CAPEX Capital expenditure — Spending by an enterprise on creating or upgrading fixed assets such as plant, machinery and buildings.
NSO National Statistics Office — The statistical agency of the Ministry of Statistics and Programme Implementation that conducts large official surveys in India.
Realisation ratio Realisation ratio — The share of planned capital expenditure that enterprises actually spent, used to judge how closely intentions matched outcomes.
Background
The Embassy of India in Helsinki records that Dr. Alexander Stubb, President of the Republic of Finland, made a state visit to India from March 4-7, 2026, the first such visit by a Finnish president after 1996. During the visit India-Finland relations were elevated to Strategic Partnership in Digitalization and Sustainability. The trip focused on strengthening bilateral cooperation in technology, green energy and geopolitics. President Stubb was accompanied by Climate and Environment Minister Sari Multala, Employment Minister Matias Marttinen, and executives from Nokia, KONE, Wartsila, Kempower and Metso. A renewal of the MoU on Environmental Cooperation was exchanged by Minister of State for External Affairs Kirti Vardhan Singh and Finland's Minister of Climate and the Environment Sari Multala. An MoU on Migration and Mobility Partnership was exchanged by External Affairs Minister S. Jaishankar and Finland's Minister of Employment Matias Marttinen, and an MoU on cooperation in the field of Statistics by Secretary (West) Sibi George and Finland's Ambassador in New Delhi Kimmo Lahdevirta. Prime Minister Narendra Modi and President Stubb inaugurated the Raisina Dialogue during the visit.
Partnership:
Strategic Partnership in Digitalization and Sustainability
Visit:
State visit of President Alexander Stubb, March 4-7, 2026
Previous Finnish presidential visit:
1996
MoUs exchanged:
Environmental Cooperation (renewal), Migration and Mobility Partnership, Statistics
Why it matters for exams: The name of a strategic partnership and the agreements signed with a visiting head of state are standard international relations questions.
Kerala PSCUPSC
In plain words
MoU Memorandum of Understanding — A written understanding between two parties that records agreed areas of cooperation.
Raisina Dialogue India's annual conference on geopolitics and geo-economics — It is held in New Delhi and brings together heads of state, ministers and scholars.