16 October 2026
The Reserve Bank of India announced the redemption price for premature redemption of Sovereign Gold Bond 2020-21 Series VII.
The redemption price is Rs 14,614 per unit of the bond.
The due date for this premature redemption is October 19, 2026, as October 20, 2026 is a holiday.
The price is the simple average of closing gold price for the three business days October 14, October 15 and October 16, 2026.
The series was issued on October 20, 2020 under notification F.No. 4(4)-B(W&M)/2020 dated October 09, 2020.
Sovereign Gold Bonds carry an eight-year tenor with premature redemption permitted after the fifth year on interest payment dates.
Redemption price:
Rs 14,614 per unit
Due date:
October 19, 2026
Averaging period:
October 14, October 15, and October 16, 2026
Series issue date:
October 20, 2020
Why it matters for exams: Sovereign Gold Bond pricing and the five-year premature redemption window are repeatedly asked in banking and economy papers.
Kerala PSCUPSCBank
In plain words
SGB Sovereign Gold Bond — A government security denominated in grams of gold, issued by the Reserve Bank on behalf of the Centre.
16 October 2026
A Press Information Bureau release announces that India Mining Week has been rescheduled to 24-26 February 2027.
The event had earlier been scheduled for 15-17 November 2026.
India Mining Week is a national mining sector event held under the Government of India.
Mineral policy events like this follow the auction-based regime for major minerals introduced by amendments to the Mines and Minerals (Development and Regulation) Act, 1957.
New dates:
24-26 February 2027
Original dates:
15-17 November 2026
Why it matters for exams: Dates and venues of flagship Government sector events are asked directly, and the mining law behind them is a standing topic.
Kerala PSCUPSCSSC
In plain words
MMDR Act Mines and Minerals (Development and Regulation) Act, 1957 — The central law that governs mineral concessions and now requires auctions for major mineral blocks.
16 October 2026
The Prime Minister extended greetings to National Security Guard personnel on their Raising Day, the Press Information Bureau said.
The National Security Guard is the Union counter-terrorism and counter-hijack force.
It functions under the Ministry of Home Affairs and its personnel are drawn on deputation from the Army and the central armed police forces.
Its headquarters is at Manesar in Haryana.
Force:
National Security Guard
Occasion:
Raising Day
Why it matters for exams: The National Security Guard's parent ministry, role and headquarters are repeatedly asked in security questions.
Kerala PSCUPSCSSC
In plain words
NSG National Security Guard — A federal contingency force for counter-terrorism and hostage rescue, under the Ministry of Home Affairs.
Background
The Securities and Exchange Board of India was constituted as a non-statutory body on April 12, 1988 through a resolution of the Government of India. It was established as a statutory body in the year 1992. The provisions of the Securities and Exchange Board of India Act, 1992 (15 of 1992) came into force on January 30, 1992. The Preamble of the Securities and Exchange Board of India describes its basic functions as to protect the interests of investors in securities and to promote the development of, and to regulate the securities market and for matters connected therewith or incidental thereto. That single sentence is the source of the regulator's three standing jobs: investor protection, market development and market regulation.
Constituted as a non-statutory body:
April 12, 1988
SEBI Act came into force:
January 30, 1992
Act number:
15 of 1992
Why it matters for exams: Examiners like the gap between SEBI's 1988 creation by resolution and the 1992 Act, because candidates usually remember only one of the two dates.
Kerala PSCUPSC
In plain words
Non-statutory body Non-statutory body — A body created by an executive order or resolution rather than by an Act of a legislature.
Securities market Securities market — The market in which shares, bonds and similar instruments are issued and traded.
Preamble Preamble — The opening statement of a law that sets out its purpose.
Background
The Competition Act, 2002, as amended by the Competition (Amendment) Act, 2007, follows the philosophy of modern competition laws. The Act prohibits anti-competitive agreements and abuse of dominant position by enterprises, and regulates combinations, meaning acquisition, acquiring of control and mergers and acquisitions, which cause or are likely to cause an appreciable adverse effect on competition within India. The objectives of the Act are sought to be achieved through the Competition Commission of India, which has been established by the Central Government with effect from 14th October 2003. The Commission shall consist of a Chairperson and not less than two and not more than six other Members to be appointed by the Central Government. It is the duty of the Commission to eliminate practices having adverse effect on competition, promote and sustain competition, protect the interests of consumers and ensure freedom of trade in the markets of India. The Commission is also required to give its opinion on competition issues on a reference received from a statutory authority established under any law, and to undertake competition advocacy, create public awareness and impart training on competition issues.
Parent Act:
The Competition Act, 2002
Amending Act:
The Competition (Amendment) Act, 2007
Commission established with effect from:
14th October 2003
Members besides the Chairperson:
Not less than two, not more than six
Why it matters for exams: The 2002 Act with its 2007 amendment, the October 2003 start and the two-to-six Member band are the three facts asked about this regulator.
Kerala PSCUPSC
In plain words
Combination Combination — Under the Competition Act, an acquisition, an acquiring of control, or a merger or amalgamation of enterprises.
Dominant position Dominant position — A position of strength in a market that lets an enterprise act independently of competitive pressure.
Competition advocacy Competition advocacy — Work to create public awareness and train people on competition issues, apart from enforcement.
Background
The Reserve Bank of India Act, 1934 requires the Central Government to entrust the Reserve Bank with all its money, remittance, exchange and banking transactions in India. Under Sections 20 and 21 of the RBI Act, 1934, the Reserve Bank has an obligation and a right respectively to accept monies for the account of the Central Government and to make payments up to the amount standing to the credit of its account. Under Section 21A the Bank may, by agreement with the Government of any State, undertake all its money, remittance, exchange and banking transactions in India; as of now the Bank is banker to all the States and the Union Territories in the country, except for the State of Sikkim. It provides Ways and Means Advances, a short-term interest-bearing advance, to the Governments to meet temporary mismatches in their receipts and payments, and gives State Governments a Special Drawing Facility, Normal Ways and Means Advances and Overdraft. Final compilation of Government accounts, of the Centre and the States, is done at the Central Accounts Section, Nagpur office of the Reserve Bank. Under section 45(1) of the RBI Act the Reserve Bank may appoint any scheduled bank as its agent for Government banking business, and the Department of Government and Bank Accounts issues the general guidelines for opening the current accounts that banks maintain with the Reserve Bank. As Banker to Banks the Reserve Bank also acts as the lender of the last resort to a bank that is solvent but faces temporary liquidity problems.
Central Government banking sections:
Sections 20 and 21, RBI Act, 1934
State Government banking section:
Section 21A, RBI Act, 1934
Only State not banked by the RBI:
Sikkim
Final compilation of Government accounts:
Central Accounts Section, Nagpur
Why it matters for exams: The Sikkim exception, Section 21A and the Nagpur Central Accounts Section are the three details that separate a prepared candidate from a guessing one.
Kerala PSCUPSC
In plain words
WMA Ways and Means Advances — A short-term interest-bearing advance the Reserve Bank gives a Government to bridge a temporary gap between its receipts and payments.
Agency bank Agency bank — A scheduled bank the Reserve Bank appoints to conduct Government banking business on its behalf, for a commission.
Lender of the last resort Lender of the last resort — The central bank's role of lending to a solvent bank facing a temporary shortage of cash when no one else will.
Background
The rural co-operative credit system in India is primarily mandated to ensure flow of credit to the agriculture sector, and it comprises short-term and long-term co-operative credit structures. The short-term co-operative credit structure operates with a three-tier system: Primary Agricultural Credit Societies at the village level, Central Cooperative Banks at the district level and State Cooperative Banks at the State level. Primary Agricultural Credit Societies are outside the purview of the Banking Regulation Act, 1949 and hence not regulated by the Reserve Bank of India. State Cooperative Banks and District Central Cooperative Banks are registered under the provisions of the State Cooperative Societies Act of the State concerned and are regulated by the Reserve Bank. Powers have been delegated to the National Bank for Agricultural and Rural Development under Sec 35 (6) of the Banking Regulation Act, as applicable to co-operative societies, to conduct inspection of State and Central Cooperative Banks. Primary Cooperative Banks, also referred to as Urban Cooperative Banks, cater to customers in urban and semi-urban areas and are registered under either the State Cooperative Societies Act or the Multi State Cooperative Societies Act, 2002 where their area of operation extends beyond one state. Though the Banking Regulation Act came into force in 1949, the banking laws were made applicable to cooperative societies only in 1966 through an amendment, and since then there is duality of control, with banking functions regulated by the Reserve Bank and management functions by the respective Governments.
Village level:
Primary Agricultural Credit Societies (PACS)
District level:
Central Cooperative Banks (CCBs)
State level:
State Cooperative Banks (StCBs)
Banking laws extended to co-operatives:
1966
Why it matters for exams: Kerala PSC asks this ladder by name and level, and the detail that the village tier is not an RBI-regulated bank is the usual trap.
Kerala PSCUPSC
In plain words
PACS Primary Agricultural Credit Societies — The village-level society at the base of the short-term co-operative credit structure.
NABARD National Bank for Agricultural and Rural Development — The development bank to which the Reserve Bank has delegated inspection of State and Central Cooperative Banks.
Duality of control Duality of control — The arrangement in which a co-operative bank's banking functions answer to the Reserve Bank while its management answers to a Government.
Background
The Inter-State Council is set up under Article 263 of the Constitution. It has been assigned the duties of investigating and discussing subjects in which some or all of the States, or the Union and one or more of the States, have a common interest; of making recommendations for better co-ordination of policy and action on those subjects; and of deliberating upon such other matters of general interest to the States. In the second meeting of the Inter-State Council, held on 15.10.1996, the Council set up a Standing Committee under the Chairmanship of the Home Minister for continuous consultation and for processing matters for the Council's consideration. The five Zonal Councils created under a provision of the States Reorganization Act, 1956 also provide a meeting ground to States and Union Territories in each zone for resolution of inter-state and regional issues, for balanced socio-economic regional development and for building harmonious Centre-State relations. Together, the Inter-State Council and the Zonal Councils provide a mechanism for cooperative Centre-State relations across social and economic planning, infrastructure, security, environment and inter-state transport.
Constitutional provision for the Council:
Article 263
Act behind the Zonal Councils:
States Reorganization Act, 1956
Number of Zonal Councils:
Five
Standing Committee chaired by:
The Home Minister
Why it matters for exams: Article 263 and the States Reorganization Act, 1956 are routinely mixed up with Article 262 and the water disputes law, which is exactly what examiners test.
Kerala PSCUPSC
In plain words
Inter-State Council Inter-State Council — A constitutional body for discussing subjects in which the Union and the States have a common interest.
Zonal Council Zonal Council — A statutory forum where the States and Union Territories of one zone meet to settle regional issues.
Standing Committee Standing Committee of the Inter-State Council — The smaller committee that holds continuous consultation and prepares matters for the full Council.
Background
The Territorial Army in its current form came into being when the Territorial Army Act was enacted on Aug 18, 1948. Initially the Territorial Army consisted of Infantry, Armoured Corps, Air Defence Artillery, Signals, Supply and other departmental units. It was formally raised by the first Indian Governor General Shri C Rajagopalachari on 09 Oct 1949, which has since been celebrated as Territorial Army Day. Apart from units affiliated to various regiments of the Indian Army, it has Home and Hearth battalions based on the concept of Sons of Soil. Engineer Territorial Army Battalions are deployed for maintenance of the Line of Control in Jammu and Kashmir. The Territorial Army also has 10 Ecological Territorial Army Battalions responsible for restoration of the ecological environment of the country, carrying out plantation in rugged and inhospitable terrain, reviving wetlands, restoring water bodies and building check dams for water conservation. Some Territorial Army battalions perform specialist tasks at the Indian Railways, Indian Oil Corporations and Oil and Natural Gas Corporation.
Territorial Army Act enacted:
Aug 18, 1948
Formally raised on:
09 Oct 1949
Raised by:
C Rajagopalachari, first Indian Governor General
Ecological battalions:
10
Why it matters for exams: Two different years, 1948 for the Act and 1949 for the raising, sit next to each other here, and the ecological battalions are an easy second mark.
Kerala PSCUPSC
In plain words
Territorial Army Territorial Army — A volunteer force of citizens who serve part of the year alongside the regular Army.
Home and Hearth Home and Hearth battalions — Territorial Army battalions raised on the Sons of Soil idea so that men serve near their own region.
Line of Control Line of Control — The military line dividing the Indian and Pakistani held areas of Jammu and Kashmir.
Background
There are 11 Benches of the Armed Forces Tribunal in the country, including the Principal Bench in New Delhi. The Regional Benches are functioning from Chandigarh, Chennai, Guwahati, Jabalpur, Jaipur, Kochi, Kolkata, Lucknow, Mumbai and Srinagar, the Srinagar Bench currently functioning at Jammu. The Tribunal has been hearing cases since its inception in 2009. Its sanctioned posts cover Group 'A', 'B' and 'C' posts as well as Members, and vacancies arise from completion of the deputation period or tenure, superannuation, delay in the selection process because of litigation and non-availability of eligible candidates. After the notification of the Tribunal, Appellate Tribunal and other Authorities (Qualifications, Experience and other Conditions of Service of Members) Rules, 2017 on 01 June 2017, nine persons were appointed as Members of the Tribunal in accordance with those Rules.
Total benches:
11
Principal Bench:
New Delhi
Kerala's bench:
Kochi
Hearing cases since:
2009
Why it matters for exams: A Kerala aspirant should know the Tribunal sits at Kochi, and that the Principal Bench and the inception year are separate facts from the bench list.
Kerala PSCUPSC
In plain words
Tribunal Tribunal — A body outside the ordinary court system set up to decide a defined class of disputes.
Principal Bench Principal Bench — The main bench of a tribunal, to which its regional benches are subordinate in administration.
Superannuation Superannuation — Retirement from service on reaching the prescribed age.
Background
The Food Corporation of India was set up under the Food Corporations Act, 1964 to be the nodal central government agency responsible for the purchase, storage, interstate movement and distribution of food grains. It is a Public Sector Undertaking under the Department of Food & Public Distribution, Ministry of Consumer Affairs, Food & Public Distribution, and is the main agency responsible for execution of the food policies of the Government of India. Its functions primarily include Purchase, Storage, Movement, Distribution and Sale of foodgrains on behalf of the Government of India. The Corporation started its journey in 1965 with an authorised capital of Rs. 100 Crores and equity of Rs. 4 Crores, and the equity was increased from time to time. It procures grains that are issued at the Central Issue Price, set by the Government, and delivers food grains to State Governments and agencies from its base depots for distribution through Fair Price Shops. To add nutrition security to food security, the Corporation has facilitated the distribution of nutrient-rich fortified rice among ration card holders. Traditional Cover and Plinth storage is being replaced with scientifically managed storage depots and silos, and the Corporation implemented a One Nation, One MSP policy of direct online payments to farmers.
Act under which it was set up:
The Food Corporations Act, 1964
Began its journey:
1965
Authorised capital at the start:
Rs. 100 Crores
Equity at the start:
Rs. 4 Crores
Why it matters for exams: The 1964 Act, the 1965 start with Rs 100 crore of authorised capital and the Central Issue Price are the three things asked about the Corporation.
Kerala PSCUPSC
In plain words
Central Issue Price Central Issue Price — The price, set by the Government, at which the Corporation issues food grains for the public distribution system.
Authorised capital Authorised capital — The maximum share capital a company is allowed to raise under its own constitution.
Cover and Plinth Cover and Plinth storage — Open storage in which bags of grain are stacked on a raised platform and covered with sheets.
Background
The National Medical Commission was constituted along with four Autonomous Boards, and with it the decades old institution of the Medical Council of India stands abolished. The National Medical Commission Act, 2019 was passed by the Parliament in August, 2019. With the coming into effect of the Act from 25th September, 2020, the Indian Medical Council Act, 1956 stands repealed, and the Board of Governors appointed in supersession of the Medical Council of India was dissolved with effect from the same date. The four Autonomous Boards that help the Commission in its day to day functioning oversee undergraduate and postgraduate medical education, accreditation and assessment, and the ethics and professional conduct of doctors; they include the Medical Assessment and Rating Board and the Ethics and Medical Registration Board. The basic change is that the regulator is now selected rather than elected. Besides the Chairperson, the Commission has 10 ex-officio members, 10 nominees from Vice Chancellors of Health Universities of States and Union Territories, 9 nominees from State Medical Councils and three expert members from diverse professions. The Commission's work includes the modalities of a common final year examination after MBBS, the National Exit Test, to serve for both registration and postgraduate entrance, guidelines for fee regulation by private medical colleges, and standards for Community Health Providers.
Act passed by Parliament:
August, 2019
Act came into effect:
25th September, 2020
Act repealed:
Indian Medical Council Act, 1956
Autonomous Boards:
Four
Nominees from State Medical Councils:
9
Why it matters for exams: Two Acts, two dates and the count of Autonomous Boards make this a standard four-mark cluster in health governance questions.
Kerala PSCUPSC
In plain words
NEXT National Exit Test — A proposed common final year examination after MBBS meant to serve for both registration and postgraduate entrance.
Ex-officio member Ex-officio member — A member who sits on a body by virtue of holding another office, not by separate appointment.
Repeal Repeal — The formal cancellation of an existing law by a later one.