29 October 2026
The Reserve Bank of India has extended by three more months the directions it had placed on The Irinjalakuda Town Co-operative Bank Ltd. in Kerala. The directions were first issued on July 29, 2025 for six months, up to the close of business on January 30, 2026, and were extended from time to time, most recently up to the close of business on October 30, 2026. They will now run until the close of business on January 30, 2027, and remain open to review. The Reserve Bank says it has acted in the public interest. Its power here comes from sub-section (1) of Section 35A of the Banking Regulation Act, 1949, read with Section 56 of the same Act, which is the section that applies banking law to co-operative societies. All other terms of the original directive stay as they were. The Reserve Bank added that the extension should not be read as its being satisfied with the bank's financial position.
Directions now valid till:
January 30, 2027
Legal provision:
Section 35A read with Section 56, Banking Regulation Act, 1949
Why it matters for exams: Section 35A of the Banking Regulation Act, 1949 is the provision under which the Reserve Bank issues directions to a bank, and Section 56 is the provision that extends that Act to co-operative societies.
Kerala PSCUPSCBank
In plain words
Section 35A Banking Regulation Act, 1949 — Lets the Reserve Bank issue directions to a banking company in the public interest.
29 October 2026
The Reserve Bank of India has announced the rate of interest payable on the Government of India Floating Rate Bond 2034 for its next half-year. The rate is 7.26 per cent a year. It applies to the period from October 30, 2026 to April 29, 2027. A floating rate bond does not carry a fixed coupon for its whole life: the rate is reset at every interest period, which is why the Reserve Bank publishes it afresh each time. The Reserve Bank manages the public debt of the Government of India and issues such securities on its behalf. These bonds are dated securities, meaning they carry a stated year of maturity, here 2034. The coupon has a base rate equal to the average of the weighted average yield of the last three auctions of 182 day Treasury Bills, counted from the rate fixing day of October 30, 2026, plus a fixed spread of 0.98 per cent.
Rate of interest:
7.26 per cent per annum
Period:
October 30, 2026 to April 29, 2027
Fixed spread:
0.98 per cent
Why it matters for exams: The Floating Rate Bond, the Reserve Bank's role as debt manager to the Government of India and the half-yearly reset of a floating coupon are recurring banking-awareness points.
UPSCBank
In plain words
FRB Floating Rate Bond — A government bond whose coupon is reset at each interest period instead of staying fixed.
29 October 2026
The 93rd meeting of the General Council of the National Cooperative Development Corporation was held at its New Delhi headquarters, chaired by Union Home Minister and Minister of Cooperation Amit Shah. The Council was told that disbursements since the Ministry of Cooperation was created had reached about Rs 4,14,586 crore up to October 25, 2026. In 2025-26 the Corporation sanctioned projects worth Rs 1,55,408 crore and disbursed Rs 1,27,596 crore, roughly five times the Rs 24,733 crore disbursed in 2020-21. It posted a net profit of Rs 1,475 crore, a loan recovery rate of 99.84 per cent and zero net non-performing assets. The NCDC (Amendment) Act, 2026 was published in the Gazette of India on August 14, 2026, and a grant of Rs 2,000 crore was approved to help the Corporation raise Rs 20,000 crore from the market over four years. Under the Sahakar Navachar Yojana the Corporation gives grants of up to Rs 25 lakh from a corpus of Rs 10 crore. The Minister asked the Corporation to draw up a 25-year roadmap.
Meeting:
93rd General Council of NCDC
Disbursement in 2025-26:
Rs 1,27,596 crore
Net profit in 2025-26:
Rs 1,475 crore
Loan recovery rate:
99.84 per cent
Why it matters for exams: The National Cooperative Development Corporation, the Ministry of Cooperation it reports to, the NCDC (Amendment) Act, 2026 and the Sahakar Navachar Yojana are named facts an examiner can ask directly.
Kerala PSCUPSCBank
In plain words
NCDC National Cooperative Development Corporation — A statutory corporation that finances cooperative societies, working under the Ministry of Cooperation.
29 October 2026
Mera Yuva Bharat, the youth platform under the Department of Youth Affairs, held 23 editions of the Viksit Bharat Yuva Samvad: Know Your Vote programme on October 29, 2026 in colleges and institutions across 12 States and Union Territories, with 5,481 young people taking part. The campaign runs from October 26 to November 5, 2026 and covers 500 universities, colleges and institutions. By October 29 a total of 50 Yuva Samvads had been held across 19 States and Union Territories, drawing 11,787 youth and 51 Youth Icons. Each event administers the Loktantrik Pledge and uses a Know Your Vote online quiz. Suggestions are collected at the venues through QR codes, along with fresh registrations on the platform. The programme is run by the Ministry of Youth Affairs and Sports.
Institutions covered:
500
Yuva Samvads so far:
50 across 19 States/UTs
Youth engaged:
11,787
Why it matters for exams: Mera Yuva Bharat, the Department of Youth Affairs that runs it and the Ministry of Youth Affairs and Sports are named institutions that appear in general awareness papers.
Kerala PSCSSC
In plain words
MY Bharat Mera Yuva Bharat — An autonomous youth platform under the Department of Youth Affairs for youth-led development.
29 October 2026
The Chennai branch office of the Bureau of Indian Standards held an MSME stakeholder conclave at Ranipet in Tamil Nadu on October 29, 2026 as part of World Standards Day 2026 observances. It was organised with the District Industries Centre, Ranipet, and drew officials of the Bureau, the District Industries Centre and the National Test House along with enterprise representatives. The focus was on units in leather, footwear and general engineering. The Bureau set out its concessions on the annual minimum marking fee for licensees: 80 per cent for micro and start-up enterprises, 50 per cent for small enterprises and 20 per cent for medium enterprises. A further 10 per cent concession is available to enterprises led by women entrepreneurs, subject to the applicable provisions. Sessions also covered financial assistance for MSME clusters to create testing facilities and testing support from the National Test House.
Concession for micro and start-up units:
80 per cent
Concession for small units:
50 per cent
Additional concession for women-led units:
10 per cent
Why it matters for exams: The Bureau of Indian Standards, the ministry it works under and the National Test House are named bodies that recur in general awareness questions.
Kerala PSCUPSCSSC
In plain words
BIS Bureau of Indian Standards — The national standards body of India, working under the Ministry of Consumer Affairs, Food and Public Distribution.
28 October 2026
The second ARISE Cities Forum 2026 met at the India Habitat Centre in New Delhi on 27 and 28 October and ended by adopting a declaration named for the city: the Delhi Declaration on Local Action for Global Climate Goals 2026. ICLEI South Asia organised the forum with the National Institute of Urban Affairs, with support from the Ministry of Housing and Urban Affairs. More than 200 people from over 50 cities in more than 18 countries attended three technical plenaries and 14 technical sessions. The theme was From Bharat to Antalya, carrying the words Commit, Implement, Deliver. Ten commitments make up the declaration, among them multilevel climate finance, circularity through cooperation, Global South urban climate leadership, and youth and community leadership. It was handed over to Gino Van Begin, Secretary General of ICLEI, to be carried to COP31 at Antalya in Turkiye. The Delhi Biodiversity Map, prepared by ICLEI South Asia, was released as the forum closed.
Declaration:
Delhi Declaration on Local Action for Global Climate Goals 2026
Commitments:
Ten
To be carried to:
COP31 at Antalya, Turkiye
Why it matters for exams: The Delhi Declaration 2026, the host city of COP31 (Antalya, Turkiye), ICLEI and the National Institute of Urban Affairs are the durable facts here.
Kerala PSCUPSC
In plain words
ICLEI Local Governments for Sustainability — A global network of local and regional governments working on sustainability; its South Asia office organised the forum.
NIUA National Institute of Urban Affairs — A national body for urban research and capacity building that co-organised the forum.
29 October 2026
The Prime Minister's Office said on 29 October that Prime Minister Narendra Modi will travel to Gujarat on 30 and 31 October. At Banaskantha on 30 October he is to release the 24th instalment of PM-KISAN, about Rs 19,000 crore going to farmers across the country, and to lay foundation stones for, inaugurate and dedicate projects worth more than Rs 14,000 crore. One of them is the Bharat Bovine Breeding and Research Centre at Bhildi in Banaskantha, a Centre of Excellence on 127 acres; no other centre in India has been built for the Kankrej breed of cattle. He will also start work under 12 approved horticulture clusters spread over about 1.46 lakh hectares, which are expected to help more than 1.3 lakh farmers. Bharat Parv 2026 opens at Ekta Nagar and runs to 15 November. On 31 October he joins Rashtriya Ekta Diwas, marking 151 years since the birth of Sardar Vallabhbhai Patel, with Vande Mataram as the overarching theme.
PM-KISAN instalment:
24th, about Rs 19,000 crore
Breeding centre:
Bharat Bovine Breeding and Research Centre, Bhildi, 127 acres
Breed:
Kankrej
Why it matters for exams: PM-KISAN and its instalments, the Kankrej cattle breed, the Statue of Unity site at Ekta Nagar and Rashtriya Ekta Diwas as Sardar Patel's birth anniversary are all standard exam facts.
Kerala PSCUPSCSSC
In plain words
PM-KISAN Pradhan Mantri Kisan Samman Nidhi — A central income support scheme that pays eligible farmer families in instalments.
29 October 2026
A two-day National Seminar on Indian Knowledge System and Artificial Intelligence opened on October 29, 2026 at the Indian Institute of Advanced Study, which is housed in Rashtrapati Nivas at Shimla. The chief guest was Prof. Raj Singh, Vice-Chancellor of Bennett University, Greater Noida, and the keynote address was given online by Dr Priyanka Tripathi of the Indian Institute of Technology Patna. Dr Sumit Narula, Dean of the Times School of Media at Bennett University, was the convener. The first day carried three academic sessions on environmental sustainability, arts and cultural heritage, and ethical approaches to artificial intelligence. The second day was given to Ayurveda, Yoga and health, Indian linguistic traditions and language technologies, and curriculum, policy and capacity building. Participants observed two minutes of silence for Professor Sachidananda Mohanty, a National Fellow of the Institute, who had died two days earlier and who had written 29 books.
Venue:
Indian Institute of Advanced Study, Rashtrapati Nivas, Shimla
Duration:
Two days
Why it matters for exams: The Indian Institute of Advanced Study, its seat at Rashtrapati Nivas in Shimla and the Indian Knowledge System as a policy theme are the durable facts here.
Kerala PSCUPSC
In plain words
IIAS Indian Institute of Advanced Study — A residential centre for advanced research in the humanities and social sciences, under the Ministry of Education.
Background
The University Grants Commission is a statutory body under the Ministry of Education, created by the University Grants Commission Act, 1956. Its stated purpose is the promotion and co-ordination of university education, and the determination and maintenance of standards in the teaching, examination and research done in universities. Section 4 of the Act makes it a body corporate with perpetual succession and a common seal. Section 5 gives it a Chairman, a Vice-Chairman and ten other members, all appointed by the Central Government, and requires the Chairman to be someone who is not an officer of the Central Government or of any State Government. Of the ten, two are drawn from officers of the Central Government and not less than four from people who are serving university teachers at the time. Under section 6 the Chairman holds office for five years or until the age of sixty-five, whichever is earlier; the Vice-Chairman for three years on the same age limit; other members for three years. Section 12 lists the Commission's functions, among them inquiring into the financial needs of universities and disbursing grants, and it ends by letting the Commission do whatever else is prescribed or is conducive to advancing higher education. The Commission also advises the Central and State Governments on measures needed for the development of higher education.
Founding Act:
University Grants Commission Act, 1956
Ministry:
Ministry of Education
Composition:
A Chairman, a Vice-Chairman and ten other members
Chairman's term:
Five years or until the age of sixty-five, whichever is earlier
Functions set out in:
Section 12 of the Act
Why it matters for exams: The item fixes the University Grants Commission's parent ministry, its founding Act, the Chairman-Vice-Chairman-ten-members composition, the bar on a government officer as Chairman, the tenures and the functions section.
Kerala PSCUPSCSSC
In plain words
UGC University Grants Commission — The statutory body that funds universities and sets standards in higher education.
Body corporate A legal person separate from its members — It has perpetual succession and a common seal and can sue and be sued in its own name.
Background
Article 80 of the Constitution settles how the Council of States, the upper House of Parliament, is put together. It allows twelve members nominated by the President, and not more than two hundred and thirty-eight members representing the States and the Union territories. Seats for the States and Union territories are allotted as the Fourth Schedule lays down. The President nominates people with special knowledge or practical experience in such matters as literature, science, art and social service, so that list is illustrative and not closed. A State's representatives are elected by the elected members of its Legislative Assembly, through proportional representation by means of the single transferable vote. For the Union territories the Article fixes no method of its own and leaves the manner of choosing representatives to be prescribed by Parliament by law. The Article therefore separates a nominated element, an elected element and a statutory element in one House.
Constitutional provision:
Article 80
Members nominated by the President:
12
Ceiling on State and Union territory representatives:
238
Seat allocation laid down in:
Fourth Schedule
Method of election:
Proportional representation by single transferable vote
Why it matters for exams: Article 80 carries the Rajya Sabha's twelve nominated members, its ceiling of 238 State and Union territory representatives, the Fourth Schedule allocation and the single transferable vote.
Kerala PSCUPSCSSC
In plain words
Council of States Rajya Sabha — The upper House of India's Parliament.
Single transferable vote A ranked proportional voting method — A voter ranks the candidates and surplus votes above the winning quota pass to the next choice.
Fourth Schedule The Schedule allotting Council of States seats — It records how many Rajya Sabha seats each State and Union territory holds.
Background
Article 312 is the route by which a new all-India service can be brought into being. It opens only after the Council of States passes a resolution backed by at least two-thirds of the members present and voting, stating that such a service is necessary or expedient in the national interest. Parliament can then make a law creating one or more all-India services common to the Union and the States, and regulate recruitment and conditions of service for them. An all-India judicial service is named in the Article as one that can be created in this way. The two services that existed when the Constitution came into force, the Indian Administrative Service and the Indian Police Service, are treated as having been created by Parliament under this Article. An all-India judicial service cannot include any post below that of a district judge as defined in Article 236. A law setting up such a judicial service can amend the sixth Chapter of Part VI where that is needed, and such a change is not counted as an amendment of the Constitution for the purposes of Article 368.
Constitutional provision:
Article 312
Resolution needed in:
Council of States (Rajya Sabha)
Support required:
Not less than two-thirds of the members present and voting
Services deemed created under it:
Indian Administrative Service, Indian Police Service
Lowest post an all-India judicial service can include:
District judge, as defined in Article 236
Why it matters for exams: Article 312 holds the two-thirds Council of States resolution, the all-India judicial service, the district judge floor and the deemed creation of the Indian Administrative Service and the Indian Police Service.
Kerala PSCUPSCSSC
In plain words
All-India service A service common to the Union and the States — Its officers are recruited centrally but serve both the Union and the States.
IAS Indian Administrative Service — One of the two services Article 312 treats as already created by Parliament.
IPS Indian Police Service — The other service Article 312 treats as already created by Parliament.
Background
Article 76 creates the office of Attorney-General for India. The President appoints someone who is qualified for appointment as a Judge of the Supreme Court. The duty of the office is to advise the Government of India on such legal matters, and to carry out such other duties of a legal character, as the President refers or assigns from time to time. The Attorney-General also discharges the functions given to the office by the Constitution or by any other law in force. While performing those duties the Attorney-General has a right of audience in all courts in the territory of India. The office is held during the pleasure of the President, and the remuneration is whatever the President determines. Because the Article fixes no term, the office continues only so long as the President is pleased to keep its holder in it.
Constitutional provision:
Article 76
Appointed by:
The President
Qualification:
Qualified for appointment as a Judge of the Supreme Court
Right of audience:
All courts in the territory of India
Tenure:
During the pleasure of the President
Why it matters for exams: Article 76 names the qualification for Attorney-General for India, the right of audience in all courts in the territory of India, and the pleasure doctrine in place of a fixed term.
Kerala PSCUPSCSSC
In plain words
Attorney-General for India The Union government's law officer created by Article 76 — The office advises the Government of India and appears for it in court.
Right of audience The right to appear and argue before a court — Article 76 extends it to every court in the territory of India.
During the pleasure of the President Holding office for as long as the President wills — There is no fixed term and no removal procedure laid down for the office.