9 October 2026
The Reserve Bank of India will conduct a 10-day Variable Rate Reverse Repo (VRRR) auction for a notified amount of ₹1,50,000 crore on Friday, October 09, 2026.
The auction window is from 09:30 AM to 10:00 AM and the date of reversal is Monday, October 19, 2026.
The Reserve Bank said the decision follows a review of liquidity conditions in the banking system.
The auction is conducted under the Liquidity Adjustment Facility, through which the Reserve Bank absorbs or injects funds.
A reverse repo auction absorbs surplus liquidity from banks, with the rate discovered through competitive bidding rather than fixed in advance.
Operational guidelines remain those set out in the Reserve Bank's press release of February 13, 2020.
The release carries the reference 2026-2027/1288 and is dated October 08, 2026.
Notified amount:
₹1,50,000 crore
Tenor:
10 days
Auction window:
09:30 AM to 10:00 AM
Date of reversal:
October 19, 2026
Why it matters for exams: VRRR auctions are the Reserve Bank's main tool for absorbing surplus liquidity and are asked as a monetary policy instrument.
Kerala PSCUPSC
In plain words
VRRR Variable Rate Reverse Repo — An auction in which banks park surplus funds with the Reserve Bank at a rate set by bidding.
LAF Liquidity Adjustment Facility — The Reserve Bank's window for daily absorption and injection of liquidity in the banking system.
Reverse repo Reverse repurchase agreement — A transaction in which the central bank borrows from banks against government securities.
9 October 2026
The Ministry of Coal has said that daily supplies of coal to the power sector have risen by around 36% from the September low.
October is averaging about 9% higher than September in despatch to the power sector.
Rail loading is averaging over 465 rakes per day in October, and the target of 470 rakes was met on three consecutive days.
The depletion of coal stock at power plants slowed from 0.243 MT/day in September to 0.116 MT/day in October.
The drawdown of stock has therefore fallen by more than half.
The Ministry notes that rebuilding of coal stock at the plants has not yet started.
Rise from September low:
around 36%
October over September:
about 9% higher
Rail loading in October:
over 465 rakes per day
Stock depletion:
0.243 MT/day in September to 0.116 MT/day in October
Why it matters for exams: Coal despatch and rake movement figures are the standard measures of India's power fuel logistics.
Kerala PSCUPSC
In plain words
Rake Railway rake — A full train load of wagons used to move bulk cargo such as coal.
MT Million tonnes — The unit in which bulk coal volumes are reported.
9 October 2026
Union Finance and Corporate Affairs Minister Nirmala Sitharaman is on a visit to Singapore from 9 to 11 October.
She will meet President Tharman Shanmugaratnam, Prime Minister Lawrence Wong, Deputy Prime Minister Gan Kim Yong and Foreign Minister Vivian Balakrishnan.
A Roundtable with Hedge Fund and Portfolio Fund Managers and a series of Government-to-Business meetings are part of the programme.
One-to-one meetings are planned with GIC, Temasek, DBS Bank, Standard Chartered Bank, British International Investment, IHH Healthcare and MUFG.
Singapore is India's largest source of foreign direct investment, with cumulative inflows of USD 194.68 billion from April 2000 to March 2026.
The discussions cover trade and investment, digital financial connectivity, capital markets, taxation, semiconductors, advanced manufacturing, skilling and aviation.
The National Investment and Infrastructure Fund and GIFT City are cited as routes for Singaporean capital into India.
Visit dates:
9 to 11 October 2026
Cumulative FDI from Singapore:
USD 194.68 billion (April 2000 to March 2026)
President of Singapore:
Tharman Shanmugaratnam
Why it matters for exams: India-Singapore economic ties and the FDI figure are standard questions on India's external sector.
Kerala PSCUPSC
In plain words
GIC Government of Singapore Investment Corporation — Singapore's sovereign wealth fund that manages the government's foreign reserves.
Temasek Temasek Holdings (P) Limited — A Singapore state-owned investment company with large holdings in Indian companies.
NIIF National Investment and Infrastructure Fund — India's sovereign-backed fund set up to channel domestic and foreign capital into infrastructure.
GIFT City Gujarat International Finance Tec-City — India's international financial services centre at Gandhinagar in Gujarat.
9 October 2026
The Madhya Pradesh Ease of Doing Business Bill, 2026 has become law in the state.
The Assembly's own bills record shows it was introduced on 20 July 2026 and discussed and passed on 21 July 2026.
The Governor's assent is recorded as 17 August 2026.
It is listed as Act No. 09 of 2026.
The Madhya Pradesh Workplace Empowerment Code, also called the Shram Shakti Code, of the same session is listed as Act No. 07 of 2026, with assent on 7 August 2026.
Act number:
09 of 2026
Passed:
21/07/2026
Governor's assent:
17/08/2026
Shram Shakti Code:
Act No. 07 of 2026
Why it matters for exams: State ease-of-doing-business and labour codes are asked in economy and governance sections.
Kerala PSCUPSC
In plain words
Ease of doing business Ease of doing business — A set of measures meant to simplify approvals, inspections and compliance for enterprises.
9 October 2026
The Bank of Russia's monthly series on the international reserves of the Russian Federation records 731,760 million US dollars for the close of September 2026.
The corresponding figure for the close of August 2026 is 769,022 million US dollars.
International reserves consist of highly liquid foreign assets held by the Bank of Russia and the Government.
They include monetary gold, foreign exchange, Special Drawing Rights and the reserve position in the IMF.
The Bank of Russia publishes the series monthly on its own website.
Reserves, close of September 2026:
731,760 million US dollars
Reserves, close of August 2026:
769,022 million US dollars
Why it matters for exams: Foreign exchange reserve figures of major economies are a standard comparative question.
Kerala PSCUPSCBank
In plain words
International reserves International reserves of the Russian Federation — Highly liquid foreign assets available to the central bank and the government, including monetary gold.
9 October 2026
The World Bank's country overview for Russia states that growth is projected to remain at around 1% during 2026 and 2027.
The overview links the projection to the Bank's Europe and Central Asia Economic Update, listed as October 2026.
The same overview gives an average of 1.3% for 2025 and 2026 taken together.
Russia is classified by the World Bank among high-income economies.
The World Bank is one of the Bretton Woods institutions founded in 1944.
Projected growth:
around 1% during 2026-2027
Average for 2025 and 2026:
1.3%
Report:
Europe and Central Asia Economic Update, October 2026
Why it matters for exams: Growth projections for major economies from the World Bank are asked directly in economy questions.
Kerala PSCUPSC
In plain words
ECA Economic Update Europe and Central Asia Economic Update — The World Bank's twice-yearly regional report on economies in Europe and Central Asia.
9 October 2026
The Bank of Russia Board of Directors decided on 11 September 2026 to keep the key rate at 14.00% per annum.
The bank states that as of 7 September 2026 annual inflation stood at 6.3%.
It describes the Russian economy as growing at a moderate pace in the third quarter of 2026.
The Board's next key rate meeting is set for 23 October 2026.
The key rate is the Bank of Russia's main monetary policy instrument.
Key rate:
14.00% per annum
Annual inflation:
6.3%
Next rate meeting:
23 October 2026
Why it matters for exams: Central bank rate decisions of major economies are standard questions in banking and civil service papers.
Kerala PSCUPSCBank
In plain words
Key rate Bank of Russia key rate — The main policy rate through which the Bank of Russia steers borrowing costs and inflation.
Background
The Federal Reserve is the central bank of the United States, created by the Federal Reserve Act.
The Federal Reserve System has two parts: the Board of Governors, a federal agency located in Washington, D.C., and 12 Federal Reserve Banks around the nation, which together have 24 Branches.
The Board is run by 7 members, or "governors", serving staggered 14-year terms, who are nominated by the President of the United States and confirmed by the U.S. Senate.
The Federal Open Market Committee, or FOMC, is a 12-person group that sets monetary policy at meetings held at least 8 times each year; its 12 voting members are the 7 governors, the president of the Federal Reserve Bank of New York, and 4 of the remaining 11 Reserve Bank presidents on one-year rotating terms.
The Federal Reserve Board is the issuing authority for Federal Reserve notes; the Federal Reserve Banks distribute, receive, and process those notes.
More than 99 percent of all U.S. currency in circulation is in the form of Federal Reserve notes.
The notes themselves are printed to the Board's order by the Treasury's Bureau of Engraving and Printing, whose facilities are in Washington, D.C., and Fort Worth, Texas.
Coins are separate: as the issuing authority for coins, the United States Mint determines annual coin production and moves coin from its production facilities in Philadelphia and Denver.
Capital:
Washington, D.C.
Issuing authority for notes:
The Federal Reserve Board
Reserve Banks and Branches:
12 Federal Reserve Banks, 24 Branches
Board of Governors:
7 members, staggered 14-year terms
FOMC voting members:
12, meeting at least 8 times each year
Share of currency as Federal Reserve notes:
More than 99 percent
Cash offices and institutions served:
28 Federal Reserve Bank cash offices serving approximately 8,400 banks, savings and loans, and credit unions
System began operations:
1914
Why it matters for exams: A country profile is almost always asked through its capital, its currency and the body that issues that currency, and the Federal Reserve's two-part structure is a standard comparison with the Reserve Bank of India.
Kerala PSCUPSCBank
In plain words
FOMC Federal Open Market Committee — The 12-person committee of Federal Reserve officials that decides the stance of United States monetary policy.
BEP Bureau of Engraving and Printing — The United States Treasury body that prints Federal Reserve notes to the order placed by the Federal Reserve Board.
Background
Article 75 of the Constitution of the Russian Federation establishes the special legal status of the Central Bank of the Russian Federation and gives it the exclusive right to issue currency.
The same article makes it the bank's main function to protect the ruble and ensure its stability.
The bank's status, goals, functions and powers are defined by Federal Law No. 86-FZ, dated 10 July 2002, on the Central Bank of the Russian Federation (Bank of Russia).
Article 3 of that law sets four goals: to protect the ruble and ensure its stability; to develop and strengthen the banking system of the Russian Federation; to ensure stability of and develop the national payment system; and to develop the financial market and ensure its stability.
The Bank of Russia is a special public legal institution and is not a body of state power, yet its authorised capital and other property are federal property.
It is accountable to the State Duma of the Federal Assembly of the Russian Federation.
Among its listed functions, it is the sole issuer of cash money, it approves the graphic sign of the ruble, it organises the digital ruble platform, and it sets and publishes the official exchange rates of foreign currencies against the ruble.
Its head office stands at 12 Neglinnaya Street, Moscow.
Currency:
ruble
Constitutional basis:
Article 75 of the Constitution of the Russian Federation
Governing statute:
Federal Law No. 86-FZ, dated 10 July 2002
Accountable to:
State Duma of the Federal Assembly of the Russian Federation
Head office:
12 Neglinnaya Street, Moscow, 107016 Russia
Why it matters for exams: A central bank's constitutional basis, its governing statute and the house it answers to are the three facts examiners pair with India's own banking questions.
Kerala PSCUPSCBank
In plain words
State Duma State Duma of the Federal Assembly of the Russian Federation — It is the house of the Russian legislature to which the Bank of Russia is accountable.
Federal Assembly Federal Assembly of the Russian Federation — It is the national legislature of the Russian Federation, and the State Duma is one of its houses.
8 October 2026
The World Bank released the October 2026 edition of its Nigeria Development Update in Abuja on 8 October 2026, with the special topic "Beyond the Federal Purse: How Higher Revenues Reshaped State Priorities". Real gross domestic product grew by 4.2 per cent in the first half of 2026, against 3.9 per cent and 3.5 per cent in the same periods of 2025 and 2024, and the report projects average growth of 4.4 per cent from 2026 to 2028. Gross federation revenues rose 69 per cent in real terms between 2023 and 2025, state revenues rose about 93 per cent in 2019 constant prices and state expenditures about 92 per cent, with the capital expenditure share rising from 46 per cent to 61 per cent. The current account surplus reached 12 billion dollars, or 7.1 per cent of GDP, in the first half of 2026, up from 8.6 billion dollars and 6.7 per cent of GDP a year earlier, and gross external reserves rose above 54 billion dollars in September. Headline inflation had fallen from 27.6 per cent in January 2025 to 15.2 per cent in December 2025, and the report expects it to decline gradually to about 12 per cent by 2028. The World Bank Country Director for Nigeria is Mathew Verghis.
Real GDP growth, first half of 2026:
4.2 per cent
Projected average growth, 2026-2028:
4.4 per cent
Real rise in federation revenues, 2023-2025:
69 per cent
Current account surplus, first half of 2026:
$12 billion (7.1 per cent of GDP)
Gross external reserves in September:
above $54 billion
Why it matters for exams: The Nigeria Development Update is the World Bank's flagship country report on Nigeria, and its growth and revenue figures are the ones set against India's in comparative questions.
UPSCBank
In plain words
NDU Nigeria Development Update — The World Bank's twice-yearly report on Nigeria's economy, each edition carrying a special topic.
Current account Current account of the balance of payments — The record of a country's trade in goods and services together with incomes and transfers; a surplus means receipts exceed payments.
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.
8 October 2026
The World Trade Organization released its Global Trade Outlook and Statistics update.
It raised its forecast for world merchandise trade volume growth in 2026 to 3.9 per cent, from 1.9 per cent in the earlier estimate.
For 2027 it expects merchandise trade volume to grow 4.1 per cent.
The forecast for commercial services trade volume in 2026 was cut to 3.3 per cent, from 4.8 per cent in the March forecast.
Services trade volume is expected to expand 6.4 per cent in 2027.
WTO Director-General Ngozi Okonjo-Iweala said an integrated global economy and a rules-based trading system gave economies the flexibility to keep essential goods flowing.
Merchandise trade volume growth, 2026:
3.9%
Earlier 2026 estimate:
1.9%
Merchandise trade volume growth, 2027:
4.1%
Commercial services trade volume growth, 2026:
3.3%
Services growth expected in 2027:
6.4%
Why it matters for exams: Trade body forecasts and the name of the WTO Director-General are standard economy questions.
Kerala PSCUPSC
In plain words
WTO World Trade Organization — The intergovernmental body that administers the rules of international trade and settles trade disputes.
Trade volume Trade measured in quantity terms — Trade counted by quantity rather than by value, so price changes do not distort the growth figure.
8 October 2026
The Venad Express, which runs between Thiruvananthapuram and Shoranur, will soon be extended to Nilambur, Palakkad Divisional Railway Manager Madhukar Rohit has said.
He announced this at Nilambur station at a meeting with Nilambur municipal chairperson Padmini Gopinath and office-bearers of the Nilambur-Mysuru Railway Action Council.
The train reaches Shoranur at 12 noon and leaves on its return journey at 3 p.m., and the Railways plans to use that three-hour window for a Nilambur service.
The extension would fill the gap in train services on the Nilambur route between 10 a.m. and 3 p.m.
A platform able to take 24 coaches has been completed at Melattur station, and a crossing station is due to be commissioned next month.
The DRM also said the discontinued parcel service at Nilambur could resume if profitability is assured, and promised steps to secure stops at Cherukara for the Kottayam Express and the Nilambur-Shoranur MEMU.
Train:
Venad Express, Thiruvananthapuram-Shoranur
Proposed extension:
To Nilambur
Idle window at Shoranur:
12 noon to 3 p.m.
Platform at Melattur:
24 coaches
Why it matters for exams: The Nilambur-Shoranur line and the Palakkad railway division recur in Kerala geography and infrastructure questions.
Kerala PSC
In plain words
DRM Divisional Railway Manager — The officer in charge of a railway division; Nilambur and Shoranur fall in the Palakkad division of Southern Railway.
8 October 2026
The Kerala State Electricity Regulatory Commission has allowed the Kerala State Electricity Board to continue purchasing 177 MW from two NTPC thermal stations until 30 April 2029.
The quantum is split as 80 MW from Barh Stage-I and 97 MW from Barh Stage-II.
KSEB has been buying from these stations on a short-term basis since 1 October 2024.
For 2025-26 the average tariff worked out to a fixed charge of Rs 2.68 and an energy charge of Rs 2.91 for Barh Stage-I, and a fixed charge of Rs 1.97 and an energy charge of Rs 2.89 for Barh Stage-II.
The Commission observed that the rates, especially the fixed cost of Barh Stage-I, are slightly on the higher side when compared with round-the-clock power discovered through the DEEP portal and the short-term market.
It directed KSEB to take part actively in Central Electricity Regulatory Commission tariff hearings and work to bring the tariffs down.
KSEB had sought the firm power citing peak-hour and night off-peak shortages, grid stability and resource adequacy.
Quantum approved:
177 MW
Barh Stage-I:
80 MW
Barh Stage-II:
97 MW
Valid until:
30 April 2029
Why it matters for exams: Kerala's power purchase, the role of the State regulator and the DEEP portal appear regularly in economy and infrastructure questions.
Kerala PSC
In plain words
DEEP Discovery of Efficient Electricity Price — A national e-bidding portal through which distribution utilities discover short and medium term power prices.
8 October 2026
The Kerala government has approved an E-Challan Amnesty Scheme under which motorists may settle pending traffic fines by paying 50 per cent of the prescribed amount.
The concession period runs from 1 November 2026 to 31 January 2027.
Only challans generated on or before 31 March 2026 qualify; challans issued after that date get no concession.
As on 31 March there were 1,00,22,255 pending challans, involving Rs 9,07,74,86,813.
Challans that have already gone to court are excluded, as are offences not listed in the scheme.
The listed offences include driving without a licence, permitting an unauthorised person to drive, over-speeding, dangerous driving, registration and permit violations and overloading.
Scheme:
E-Challan Amnesty Scheme
Concession:
50% of the prescribed fine
Period:
1 November 2026 to 31 January 2027
Challans cut-off:
Generated on or before 31 March 2026
Pending challans:
1,00,22,255
Amount pending:
Rs 9,07,74,86,813
Why it matters for exams: An amnesty scheme with exact dates, a cut-off and a pending-dues figure is the kind of State scheme Kerala PSC asks about directly.
Kerala PSC
In plain words
e-challan Electronic challan — A machine-generated notice of a motor vehicle offence, served and paid electronically.
8 October 2026
The European Central Bank published on 8 October 2026 the account of its Governing Council meeting of 9-10 September 2026.
Mr Lane proposed raising all three key ECB interest rates by 25 basis points, including the deposit facility rate from 2.25% to 2.50%. The account records that all members supported the proposal and the Council took the monetary policy decisions. Markets had fully priced in a hike.
Headline HICP inflation rose to 3.3% in August from 2.9% in July; energy inflation rose to 14.3%.
September baseline projections: headline inflation of 3.0% (2026), 2.5% (2027) and 2.1% (2028); GDP growth of 0.9% (2026), 1.4% (2027) and 1.5% (2028).
Members assessed the risks to inflation to be to the upside and the risks to growth to the downside. The Council should keep a data-dependent, meeting-by-meeting approach with no pre-committed rate path.
Deposit facility rate backed by the Council:
From 2.25% to 2.50%
Headline HICP inflation, August:
3.3%
Inflation projection 2026:
3.0%
GDP growth projection 2026:
0.9%
Why it matters for exams: Central bank policy rates, HICP inflation and ECB procedure are standard economy and banking exam material.
UPSCBank
In plain words
HICP Harmonised Index of Consumer Prices — The euro area's headline consumer price inflation measure.
Basis point One hundredth of a percentage point — 25 basis points equal 0.25 percentage points.
Deposit facility rate ECB rate on bank deposits — The rate banks earn on deposits at the ECB, the main policy rate.
8 October 2026
The UN Development Programme (UNDP) issued the report Layers of Deprivation: Multidimensional Poverty in Myanmar on 8 October 2026.
It finds more than two in three people endure multidimensional poverty or are at risk of falling into it, with over 37 million people, 68 per cent of the population, facing overlapping crises.
Deficits in health and living standards account for more than 80 per cent of multidimensional poverty.
Rakhine state is among the most severe hotspots: more than two-thirds of its population is multidimensionally poor and nearly a third is severely poor.
By the end of August roughly 600,000 people had been affected by flooding. Myanmar has been in civil war since the military seized power in February 2021.
People facing overlapping crises:
Over 37 million (68 per cent)
Share of poverty from health and living standards:
More than 80 per cent
People hit by flooding by end-August:
Roughly 600,000
Why it matters for exams: Multidimensional poverty measurement and UNDP reports are recurring items in reports-and-indices questions.
Kerala PSCUPSC
In plain words
UNDP United Nations Development Programme — The UN's global development network.
Multidimensional poverty Poverty measured across several deprivations — Poverty measured by overlapping deprivations such as health, housing and services, not income alone.
8 October 2026
Greater Bengaluru Authority (GBA) Chief Commissioner Maheshwar Rao spoke at the Mobility Symposium 2026, hosted by MoveInSync, on Thursday.
He said the aim is to bring closer to 3,000 more buses into the city and to improve footpaths and pedestrian access.
Deccan Herald reports the bus network carries around 4.4 million passengers and the Metro about one million daily.
He urged employers and tech parks to encourage employees to use buses and the Metro through incentives.
He also called for a long-term approach to urban drainage and outlined preliminary plans to identify locations for public heat shelters.
Buses planned:
Nearly 3,000 more
Bus riders:
Around 4.4 million
Metro riders:
About one million
Why it matters for exams: The Greater Bengaluru Authority replaced the BBMP model of city governance, so urban-governance questions on it are likely.
Kerala PSCUPSC
In plain words
GBA Greater Bengaluru Authority — The civic authority for Bengaluru that replaced the BBMP.
8 October 2026
The Commissioner of Metro Railway Safety (CMRS), Southern Circle, V. Venkatasubramanian, completed a three-day statutory inspection of Namma Metro's elevated Pink Line.
The 7.5-km stretch between Kalena Agrahara and Tavarekere has six stations: Kalena Agrahara, Hulimavu, IIM-B, JP Nagar 4th Phase, Jayadeva Hospital and Tavarekere.
On the final day the team inspected the Operations Control Centre at Baiyappanahalli.
Authorisation to open will be issued subject to BMRCL complying with the observations and conditions stipulated.
Once opened, the network will grow from 96.10 km to 103.60 km.
Stretch:
Kalena Agrahara to Tavarekere
Length:
7.5 km
Stations:
6
Network after opening:
103.60 km
Why it matters for exams: The role of the CMRS and the steps before a metro line opens are useful for infrastructure and governance questions.
Kerala PSCUPSC
In plain words
CMRS Commissioner of Metro Railway Safety — The statutory authority whose clearance is needed before a metro section opens to passengers.
BMRCL Bangalore Metro Rail Corporation Limited — The company that builds and runs Namma Metro.
RDSO Research Designs and Standards Organisation — The Railways body that issues speed certificates for rolling stock.
8 October 2026
Applications are invited for the laptop distribution scheme from the children of workers who are members of the Kerala Toddy Tappers Welfare Fund.
Eligible students must have secured first-year admission in 2026-27 to selected courses at government or government-approved colleges, through entrance examinations conducted by central or state entrance commissions.
The last date for receiving applications is 31 October.
For details, contact the Thiruvananthapuram District Office on 0471 2448451.
Last date:
31 October
Eligible:
Children of members of the Kerala Toddy Tappers Welfare Fund
Admission year:
2026-27
Why it matters for exams: Welfare fund boards and their benefit schemes are routine Kerala PSC current-affairs questions.
Kerala PSC