7 October 2026
The Monetary Policy Committee of the Reserve Bank of India met from October 5 to 7, 2026 and raised the policy repo rate by 25 basis points to 5.50 per cent. The decision on the rate was unanimous. The stance was changed to calibrated tightening, with Dr. Nagesh Kumar and Prof. Ram Singh voting to keep the stance neutral. The standing deposit facility rate stands at 5.25 per cent and the marginal standing facility rate and the Bank Rate at 5.75 per cent. CPI inflation for 2026-27 is projected at 5.2 per cent and real GDP growth at 7.1 per cent.
Policy repo rate:
5.50 per cent
Change:
25 basis points increase
Standing deposit facility rate:
5.25 per cent
Marginal standing facility rate and Bank Rate:
5.75 per cent
CPI inflation projection 2026-27:
5.2 per cent
Real GDP growth projection 2026-27:
7.1 per cent
Why it matters for exams: The repo rate and the policy stance are standard questions in bank and civil service papers, and a change in either is asked with its exact figure.
Kerala PSCUPSCSSCBank
In plain words
Repo rate Repurchase rate — The rate at which the Reserve Bank lends short term to banks against government securities.
SDF Standing Deposit Facility — The window through which banks park surplus funds with the Reserve Bank without collateral; its rate is the floor of the corridor.
MSF Marginal Standing Facility — The window through which banks borrow overnight from the Reserve Bank above the repo rate; its rate is the ceiling of the corridor.
8 October 2026
In a session reported by the Department of Space on 8 October 2026, Union Minister of State Dr Jitendra Singh said India's space economy is about USD 9 billion and that if the current momentum continues it could reach USD 45 to 46 billion within 8 to 10 years. He said opening the space sector to private players has given young scientists and engineers opportunities at home and reduced the need to seek jobs abroad, naming the startup Skyroot as an example. He said government, industry, startups, academia and research institutions must work together, summing it up as 'The age of silos is over'. He said Indian satellites provide flood and disaster information to Nepal, Bangladesh, Myanmar and Sri Lanka. He said gross expenditure on research and development rose from about ₹46,000-47,000 crore in 2013-14 to about ₹2-2.5 lakh crore. He also referred to the opening of the nuclear sector to private participation and a target of 100 GW of nuclear capacity by 2047, and cited Chandrayaan-3 as an example of a cost-efficient mission. He was speaking at the NaMo Book Fest in Varanasi.
Space economy now:
about USD 9 billion
Projected size:
USD 45-46 billion within 8-10 years
Nuclear capacity target:
100 GW by 2047
Gross expenditure on R&D:
about ₹46,000-47,000 crore in 2013-14 to about ₹2-2.5 lakh crore
Why it matters for exams: The size of India's space economy and its projected size are standard figures in science and technology questions.
Kerala PSCUPSCSSC
In plain words
GERD Gross Expenditure on Research and Development — The total money a country spends on research and development from all sources in a year.
Department of Space Department of Space — The central department under which ISRO and the other Indian space bodies function.
9 October 2026
The Ministry of Culture said on 9 October 2026 that the PM Mementos e-Auction is live and has been extended to 31 October 2026. Bids are placed on the portal pmmementos.gov.in. Proceeds from the auction go to the Namami Gange programme, which works to conserve and rejuvenate the river Ganga. Eighteen mementos from Andhra Pradesh are among the items on offer. They include a Kondapalli wooden bullock cart, a Kalamkari textile with a photoprint of the Prime Minister, a commemorative memento from Sree Shivaji Sphoorti Kendram at Srisailam, the Stree Shakti Pratibha Award-2025 commemorative memento and a 'Good Governance of India' acrylic painting.
Auction extended to:
31 October 2026
Portal:
pmmementos.gov.in
Proceeds go to:
Namami Gange programme
Mementos from Andhra Pradesh:
18
Why it matters for exams: The destination of the auction proceeds and the portal name are the kind of specific detail examiners pick from such a release.
Kerala PSCUPSCSSC
In plain words
Namami Gange Namami Gange Programme — The central programme for conservation and rejuvenation of the river Ganga.
Kalamkari Kalamkari — A hand-painted or block-printed cotton textile craft of Andhra Pradesh.
Kondapalli toys Kondapalli toys — Light wooden toys carved in Kondapalli in Andhra Pradesh, a geographical indication craft.
9 October 2026
The India Meteorological Department held a Training Workshop on Cyclone and Marine Weather Warning Services for users on 9 October 2026, under the Ministry of Earth Sciences. More than 650 participants joined, including stakeholders, disaster managers and media representatives, and the workshop was livestreamed on YouTube for the general public. Dr Mrutyunjay Mohapatra, Director General of Meteorology, opened the workshop and spoke on progress in cyclone forecasting, multi-agency coordination and the role of the media in carrying warnings to the last mile. A key highlight was a demonstration of the Cyclone and Marine Weather Services Decision Support System for Public, an integrated platform to help the public, stakeholders and disaster managers take timely decisions. IMD experts presented forecast products and warning bulletins for coastal communities, fishermen, ports and maritime stakeholders.
Participants:
more than 650
Director General of Meteorology:
Dr Mrutyunjay Mohapatra
Ministry:
Ministry of Earth Sciences
Why it matters for exams: The IMD's warning products and the name of the Director General of Meteorology are regularly asked in disaster management questions.
Kerala PSCUPSC
In plain words
IMD India Meteorological Department — The national weather service under the Ministry of Earth Sciences, which issues cyclone and marine warnings.
DSS Decision Support System — A platform that brings forecasts and impact data together so a user can act on them.
9 October 2026
Union Minister of State (Independent Charge) for Ayush, Prataprao Jadhav, inaugurated the second edition of the Indo-UK Health Conclave 2026 in New Delhi on 9 October 2026.
The two-day conclave was organised by Marengo Asia Hospitals and the BAPIO Training Academy under the theme “Bridging Healthcare, Education and Innovation”.
It brought together healthcare professionals, academicians and institutional representatives from India and the United Kingdom.
Jadhav said traditional systems of medicine, when supported by scientific research, appropriate clinical evidence, quality standards and responsible integration, can strengthen preventive healthcare and holistic well-being across the world.
He welcomed a structured training and capacity-building initiative for Ayush professionals that includes two six-month certificate courses for Ayush graduates and postgraduates: Certificate in Acute Care & Emergency Support, and Certificate in Lifestyle Health & Well-Being Counselling & Practice.
The Minister said the United Kingdom's experience in clinical governance, patient safety and quality assurance, together with India's clinical expertise, technological innovation and healthcare delivery, can help build more accountable health systems.
Edition:
Second
Theme:
Bridging Healthcare, Education and Innovation
New courses:
Two six-month certificate courses
Organisers:
Marengo Asia Hospitals and BAPIO Training Academy
Why it matters for exams: A named India-United Kingdom health event with a dated inauguration, a theme, the organisers and two specific new certificate courses gives several single-fact questions.
Kerala PSCUPSCSSC
In plain words
Ayush Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy — The Union Ministry that looks after India's traditional systems of medicine.
9 October 2026
Milton Dick, Speaker of the House of Representatives of Australia, was declared elected President of the Inter-Parliamentary Union on 9 October 2026, the last day of the 153rd IPU Assembly held at Arusha in the United Republic of Tanzania.
Harivansh, Deputy Chairman of the Rajya Sabha, who led the Indian Parliamentary Delegation, and other members of the delegation congratulated him immediately after the result was announced.
On the fourth day of the Assembly, 8 October 2026, the delegation attended the debate on the emergency item “Urgent parliamentary action to address climate-related disasters and strengthen resilience in the Himalayan region and other vulnerable regions”, which was proposed by Nepal and adopted on the third day.
Anurag Singh Thakur, Member of the Lok Sabha, spoke in support of the emergency item and took part in the Bureau and the meeting of the Standing Committee on Democracy and Human Rights.
Sasmit Patra, Member of the Rajya Sabha, attended the Standing Committee on United Nations Affairs and the hearing with the candidates for the post of IPU President.
Lata Wankhede, Member of the Lok Sabha, attended the Standing Committee on Sustainable Development and a panel discussion on artificial intelligence and the future of work.
The General Debate of the Assembly was on the theme “Enhancing good governance and empowering communities through inclusivity, trust and opportunities for all”.
New IPU President:
Milton Dick, Speaker of the House of Representatives of Australia
Assembly:
153rd IPU Assembly
Venue:
Arusha, United Republic of Tanzania
Indian delegation leader:
Harivansh, Deputy Chairman, Rajya Sabha
Why it matters for exams: A newly elected head of an international parliamentary body, the host city and country of the Assembly, and the country that moved the emergency item are standard one-mark facts.
Kerala PSCUPSCSSC
In plain words
IPU Inter-Parliamentary Union — The global organisation of national parliaments, whose Assembly adopts resolutions on world affairs.
ASGP Association of Secretaries General of Parliaments — The body of senior parliamentary officials that meets alongside IPU Assemblies.
9 October 2026
The Reserve Bank of India announced on 9 October 2026 that it has launched the 75th round of its Order Books, Inventories and Capacity Utilisation Survey, known as OBICUS.
The reference period of this round is July to September 2026, the second quarter of 2026-27.
The Reserve Bank has been conducting OBICUS of the manufacturing sector on a quarterly basis since 2008.
The survey collects new orders received during the reference quarter, the backlog of orders at the beginning of the quarter, pending orders at the end of the quarter, and total inventories with a break-up between finished goods, work-in-progress and raw material.
It also collects item-wise production in quantity and value against installed capacity, and the reasons for changes in production or installed capacity. The level of capacity utilisation is estimated from these responses.
Selected manufacturing companies are approached by the Bank, and other manufacturing companies may take part by downloading the questionnaire from the Reserve Bank's website. Company level data are treated as confidential and never disclosed.
The survey is run by the Division of Enterprise Surveys, Department of Statistics and Information Management, and provides input for monetary policy formulation.
Round:
75th
Reference period:
July - September 2026 (Q2:2026-27)
Conducted since:
2008, quarterly
Sector covered:
Manufacturing
Why it matters for exams: Bank and civil services papers regularly ask which Reserve Bank survey measures capacity utilisation, its round number and its reference quarter.
Kerala PSCUPSCBank
In plain words
OBICUS Order Books, Inventories and Capacity Utilisation Survey — A quarterly Reserve Bank survey of manufacturing firms from which capacity utilisation is estimated.
Capacity utilisation Capacity utilisation — The share of installed production capacity that a factory actually uses.
7 October 2026
The Reserve Bank of India announced in a press release dated 7 October 2026 that Paytm Payments Bank Limited has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934.
The exclusion was made by notification DoR.LIC.No.S3674/16.13.215/2026-27 dated 31 July 2026.
The notification was published in the Gazette of India, Part III, Section 4, dated 7 September 2026.
The release was issued by Brij Raj, Chief General Manager, as Press Release 2026-2027/1273.
Banks named in the Second Schedule to the Act are the scheduled banks of the country, so exclusion from that Schedule removes the entity from the list of scheduled banks.
Entity:
Paytm Payments Bank Limited
Schedule:
Second Schedule to the Reserve Bank of India Act, 1934
Notification:
DoR.LIC.No.S3674/16.13.215/2026-27 dated July 31, 2026
Gazette publication:
Gazette of India, Part III - Section 4, dated September 07, 2026
Why it matters for exams: Which Schedule of the Reserve Bank of India Act lists scheduled banks, and the effect of inclusion or exclusion, is a recurring banking and general studies question.
Kerala PSCUPSCSSCBank
In plain words
Scheduled bank Scheduled bank — A bank named in the Second Schedule to the Reserve Bank of India Act, 1934.
Payments bank Payments bank — A differentiated bank that may take limited deposits and offer payment services but cannot lend.
9 October 2026
Defence Minister Rajnath Singh presented the SIDM Champion Awards 2026 at the 8th Annual Session of the Society of Indian Defence Manufacturers in New Delhi on 9 October 2026. Fifteen awards were given to organisations for indigenous technology development, product innovation, design, import substitution, manufacturing excellence and exports. Defence exports reached a record ₹38,424 crore in 2025-26, more than 60 per cent above the previous financial year. The target is ₹50,000 crore of defence exports by 2029. He recalled his call to raise the private sector's share of total defence production from about 24 per cent to 50 per cent. The theme of the session was 'Sovereign Capabilities, Contested Frontiers: Accelerating India's Strategic Autonomy in an Era of Disruption'. SIDM was founded in 2017. Of the 2025-26 exports, defence public sector undertakings accounted for 54.84 per cent and the private sector for 45.16 per cent.
Defence exports 2025-26:
₹38,424 crore
Growth over previous year:
more than 60 per cent
Export target:
₹50,000 crore by 2029
Awards presented:
15
Share of defence PSUs in exports:
54.84 per cent
Why it matters for exams: The latest defence export figure and the export target are among the most frequently asked defence economy facts.
Kerala PSCUPSCSSC
In plain words
SIDM Society of Indian Defence Manufacturers — An industry body founded in 2017 representing large defence firms, MSMEs, startups, academia and foreign original equipment manufacturers.
iDEX Innovations for Defence Excellence — A Ministry of Defence programme that funds startups and innovators to build defence technologies.
Positive Indigenisation List Positive Indigenisation List — A list of items that the armed forces may procure only from Indian sources after a stated date.
Background
The Monetary Policy Committee has just raised the policy repo rate to 5.50 per cent at its meeting of October 5 to 7, 2026, which puts the framework it works under back in the news. Section 45ZB of the Reserve Bank of India Act, 1934 provides for an empowered six-member Monetary Policy Committee. The Governor is its ex officio Chairperson, and the Deputy Governor in charge of monetary policy and one officer of the Bank nominated by the Central Board are the other ex officio members. The three external members notified on October 1, 2024 are Dr. Nagesh Kumar, Shri Saugata Bhattacharya and Prof. Ram Singh, who hold office for four years or until further orders, whichever is earlier. The Committee meets at least four times a year, the quorum is four members, each member has one vote and the Governor has a second or casting vote in case of a tie. Under Section 45ZA the Central Government, in consultation with the Reserve Bank, sets the consumer price index inflation target once every five years; it is 4 per cent with a tolerance band of 2 to 6 per cent, retained for April 2026 to March 2031.
Members:
6
Quorum:
4 members
Minimum meetings a year:
4
Inflation target:
4 per cent with a tolerance band of 2 to 6 per cent
Enabling provision:
Section 45ZB, Reserve Bank of India Act, 1934
Why it matters for exams: The composition, quorum, voting rule and inflation target of the Monetary Policy Committee are asked verbatim in bank and civil service papers.
Kerala PSCUPSCBank
In plain words
Flexible inflation targeting Flexible inflation targeting framework — A framework in which the central bank aims at a numerical inflation target while allowing a tolerance band around it.
Ex officio member Member by virtue of office — A member who sits on a body because of the post held, not by separate appointment.
Background
The National Testing Agency's notice inviting applications for the SWAYAM July 2026 semester examination puts the platform itself in the news. SWAYAM is an initiative of the Ministry of Education, described as designed to achieve the three cardinal principles of Education Policy, and it aims to give free learning resources to all learners including the most disadvantaged. Courses run from Class 9 through postgraduate education, and more than 1,000 faculty and teachers have helped prepare them. Every course is built on four quadrants: video lectures, reading material that can be downloaded or printed, self-assessment tests and quizzes, and an online discussion forum for clearing doubts. Ten National Coordinators handle different segments: AICTE for self-paced and international courses, NPTEL for engineering, UGC for non-technical postgraduate education, CEC for undergraduate education, NCERT and NIOS for school education, IGNOU for out-of-school students, IIMB for management studies, NITTTR for teacher training and INI for non-technical courses. A learner who wants a SWAYAM certificate must register for a fee-based proctored final examination held in person at designated centres, and universities and colleges that approve credit transfer can use those marks or certificates.
National Coordinators:
10
Quadrants in each course:
4
Levels covered:
Class 9 to postgraduate
Ministry:
Ministry of Education
Why it matters for exams: Which body coordinates which segment of SWAYAM, and the four-quadrant design, are frequently asked in education questions.
Kerala PSCUPSCSSC
In plain words
NPTEL National Programme on Technology Enhanced Learning — The SWAYAM National Coordinator for engineering courses.
CEC Consortium for Educational Communication — The SWAYAM National Coordinator for undergraduate education.
NITTTR National Institute of Technical Teachers Training and Research — The SWAYAM National Coordinator for teacher training courses.