2 October 2026
The Ministry of Commerce and Industry has extended the operational period of Component-II of RELIEF, which stands for Resilience and Logistics Intervention for Export Facilitation.
The extension was made through notification number 37/2026-27 dated 30 September 2026.
RELIEF is a time-bound initiative under the Export Promotion Mission and was launched on 19 March 2026.
Component-II provides 95 per cent risk coverage through ECGC policies for shipments to specified regions, covering Full Container Load, Less than Container Load and reefer containers, but excluding energy shipments.
Premium rates are frozen at pre-disruption levels for eligible periods, and the cover applies to standalone or whole turnover policies obtained on or after 16 March 2026.
The initiative addresses elevated freight costs, higher insurance premiums and war-related export risks faced by Indian exporters in the Gulf and West Asia.
Risk coverage:
95 per cent
Launched on:
19 March 2026
Notification:
37/2026-27 dated 30 September 2026
Why it matters for exams: A new acronym with an exact risk-cover percentage and launch date is easy question material, and it links trade policy to geopolitics.
UPSCBank
In plain words
RELIEF Resilience and Logistics Intervention for Export Facilitation — A time-bound initiative under the Export Promotion Mission to support exporters facing shipping disruptions.
ECGC Export Credit Guarantee Corporation — A government-owned company that provides credit risk insurance to Indian exporters.
2 October 2026
The Department of Commerce has extended the Remission of Duties and Taxes on Exported Products (RoDTEP) scheme up to 31 December 2026.
The extension was made through Notification No. 41/2026-27 dated 30 September 2026.
It covers exports by Domestic Tariff Area units, Advance Authorisation holders, Special Economic Zone units and Export Oriented Units.
The existing RoDTEP rates and value caps specified in Appendices 4R and 4RE as on 30 September 2026 continue unchanged during the extended period.
RoDTEP refunds inherent, non-reimbursable central, state and local duties, taxes and levies borne on exported goods.
The release says the step is meant to assist exporters and give them equal opportunities against competitive economies.
Scheme extended till:
31 December 2026
Notification:
No. 41/2026-27 dated 30 September 2026
Rate appendices:
Appendices 4R and 4RE
Why it matters for exams: Scheme extensions with an exact notification number and end date are standard one-mark material in economy sections.
Kerala PSCUPSCBank
In plain words
RoDTEP Remission of Duties and Taxes on Exported Products — A scheme that refunds embedded central, state and local taxes and duties on exported goods.
EOU Export Oriented Unit — A unit set up to produce goods wholly for export, with duty concessions on inputs.
Background
Today's Belgian news includes a prime ministerial visit to India, which rests on one of India's oldest European relationships.
The Embassy of India in Brussels records that Belgium was among the first European countries to establish diplomatic relations with independent India in September 1947.
Trade in diamonds dominates the bilateral trade relationship.
The Embassy gives India as Belgium's 14th largest export destination and India as the 15th largest importer to Belgium.
On the Embassy's figures there are around 24,732 members of the Indian diaspora in Belgium, of whom 14,286 are Non-Resident Indians and around 10,446 are Persons of Indian Origin.
The Non-Resident Indian figure includes around 764 Indian students and around 2000 IT professionals.
Diplomatic relations established:
September 1947
Dominant trade:
diamonds
Indian diaspora in Belgium:
around 24,732
Non-Resident Indians:
14,286
Persons of Indian Origin:
around 10,446
Why it matters for exams: The year diplomatic relations began, the diamond trade and the diaspora numbers are the three things asked about India-Belgium ties.
Kerala PSCUPSCSSC
In plain words
NRI Non-Resident Indian — An Indian citizen residing outside India.
PIO Person of Indian Origin — A person of Indian descent holding another country's nationality.
Background
The euro-area interest rate decision and the budget talks in today's Belgian news both rest on the same fact: Belgium has been inside the European project from its beginning.
The European Union's own country profile gives Belgium's capital city as Brussels and its official EU languages as Dutch, French and German.
Belgium's currency is the euro and it has been an EU member country since 1 January 1958.
It has been a Schengen area member since 26 March 1995.
The profile describes Belgium's political system as a federal constitutional monarchy in which the king is the head of state and the prime minister is the head of government in a multi-party system.
Belgium's population is given as 11 900 123 and it sends 22 representatives to the European Parliament.
Capital:
Brussels
Official EU languages:
Dutch, French, German
Currency:
euro
EU member since:
1 January 1958
Schengen member since:
26 March 1995
MEPs:
22
Why it matters for exams: Capital, currency, official languages and accession dates are the standard country-profile questions, and Belgium's three languages are a favourite trap.
Kerala PSCUPSCSSCBank
In plain words
Schengen area The European zone of free movement without internal border checks — Separate from EU membership itself.
MEP Member of the European Parliament — Directly elected by voters in each member state.
2 October 2026
Prime Minister of Belgium Bart De Wever paid an official visit to India from 2 to 4 September 2026 and a joint statement was issued.
He was accompanied by Belgium's Minister of Defence and Foreign Trade Theo Francken and a delegation of officials and business leaders.
The two Prime Ministers expressed their determination to strengthen cooperation with a view to enabling the doubling of bilateral trade in the next five years.
A Letter of Intent was signed between the two Defence Ministries, a Memorandum of Understanding on renewable energy cooperation was renewed, and an MoU was signed between India's Central Bureau of Investigation and Belgium's Federal Police on combating transnational organised crime and cybercrime.
The joint statement records the India-Belgium Strategic Dialogue launched on 15 July 2026 and an India-Belgium Investment Fast-Track Mechanism.
It also notes an Indo-Belgian economic and investment corridor to be taken forward by SFPIM and the National Investment and Infrastructure Fund.
Visit dates:
2 to 4 September 2026
Trade goal:
doubling bilateral trade in the next 5 years
Defence instrument:
Letter of Intent between the Defence Ministries
Strategic Dialogue launched:
15 July 2026
Why it matters for exams: Bilateral visits and the exact instruments signed are standard international relations questions for civil services and PSC papers.
Kerala PSCUPSCSSC
In plain words
MoU Memorandum of Understanding — A written understanding between two sides, usually not a binding treaty.
NIIF National Investment and Infrastructure Fund — India's sovereign-backed infrastructure investment fund.
CBI Central Bureau of Investigation — India's principal federal investigating agency.
2 October 2026
Eurostat's flash estimate puts euro area annual inflation at 3.8 per cent in September 2026, up from 3.2 per cent in August.
Energy is expected to show the highest annual rate at 18.8 per cent, against 14.3 per cent in August.
Services are estimated at 3.2 per cent, food, alcohol and tobacco at 1.4 per cent and non-energy industrial goods at 1.1 per cent.
Inflation excluding energy, food, alcohol and tobacco is estimated at 2.5 per cent.
The monthly rate for September 2026 is estimated at 0.6 per cent.
The complete set of harmonised indices for September 2026 is scheduled for release on 16 October 2026.
The euro area has 21 members from 1 January 2026, when Bulgaria adopted the euro.
Annual inflation, September 2026:
3.8 per cent
Annual inflation, August 2026:
3.2 per cent
Energy:
18.8 per cent
Services:
3.2 per cent
Euro area members:
21
Why it matters for exams: Flash HICP estimates are the standard measure of euro area inflation and set the context for European Central Bank decisions.
Kerala PSCUPSCBank
In plain words
HICP Harmonised Index of Consumer Prices — The price index built on common rules so inflation can be compared across EU countries.
Flash estimate Early estimate released before full data — Eurostat issues it at the end of the reference month and revises it in mid-month.
Eurostat Statistical office of the European Union — It compiles and publishes official statistics for the EU.
2 October 2026
NITI Aayog, in collaboration with the Government of West Bengal and with technical support from the United Nations Development Programme (UNDP), organised a National Workshop on SDG Budgeting in Kolkata on 29 September 2026 under NITI Aayog's State Support Mission; the release was issued on 2 October 2026.
Participants came from 32 States and Union Territories.
The 'Guide on Mapping State Budgets to the SDGs', developed jointly by NITI Aayog, the Comptroller and Auditor General of India and UNDP, was discussed at the workshop as a practical framework for aligning State budgets with the Goals.
West Bengal Finance Minister Swapan Dasgupta and NITI Aayog Member R. Balasubramaniam attended, with CAG K. Sanjay Murthy and Chief Economic Adviser V. Anantha Nageswaran joining virtually.
Haryana, Odisha, Meghalaya and West Bengal shared their SDG budget tagging experience.
West Bengal mapped its budget to the goal level of the SDGs for the first time and integrated the exercise into its Integrated Financial Management System.
Venue:
Kolkata
Workshop date:
29 September 2026
States and UTs represented:
32
Guide discussed:
Guide on Mapping State Budgets to the SDGs
Partners:
NITI Aayog, CAG and UNDP
Why it matters for exams: SDG budget tagging at the state level connects NITI Aayog, the CAG and UNDP in one governance question.
Kerala PSCUPSC
In plain words
SDG Sustainable Development Goals — The seventeen global goals adopted by UN members for 2030.
UNDP United Nations Development Programme — The UN's development agency, which works with Indian states on SDG planning.
Budget tagging SDG budget tagging — Marking budget lines against specific goals so spending can be traced to outcomes.
2 October 2026
APEDA facilitated the export of 1 MT of popped (phool) makhana from Purnea in Bihar to Greece, in an announcement dated 2 October 2026.
The consignment was sourced from Indo Global Export, Belouri, Purnea, and exported by S. S Foods Exports Pvt. Ltd., New Delhi.
It moved from Mundra Port in India to Piraeus Port in Greece.
India exported more than 7000 MT of makhana and value-added makhana products valued at USD 22 million during FY 2025-26 across more than 20 international destinations.
Bihar accounts for about 80-85 per cent of India's makhana production, grown over 35,000 hectares spanning 10 districts.
The crop is supported by Bihar Agricultural University and the ICAR-National Research Centre for Makhana.
Quantity:
1 MT of popped (phool) makhana
Route:
Mundra Port to Piraeus Port, Greece
Makhana exports FY 2025-26:
more than 7000 MT, USD 22 million
Bihar's share of production:
about 80-85 per cent
Why it matters for exams: A named first-time export route plus the makhana export value and Bihar's production share give three separate factual hooks.
Kerala PSCUPSCBank
In plain words
APEDA Agricultural and Processed Food Products Export Development Authority — The body under the Commerce Ministry that promotes exports of scheduled agricultural and processed foods.
Makhana Fox nut — The popped seed of the prickly water lily, grown mainly in ponds in north Bihar.
2 October 2026
The Department of Commerce has extended the operational timelines of Component II of the RELIEF intervention through Notification No. 37/2026-27 dated 30 September 2026.
RELIEF stands for Resilience and Logistics Intervention for Export Facilitation.
It was launched on 19 March 2026 and operates under the Export Promotion Mission framework.
It is a targeted intervention to support Indian exporters affected by extraordinary freight escalation, heightened insurance premia and war-related export risks arising from West Asia maritime disruptions.
Component II provides 95 per cent ECGC risk coverage for shipments to specified regions, for policies obtained on or after 16 March 2026.
It covers Full Container Load, Less than Container Load and Reefer containers, excluding energy shipments, and premium rates shall not be increased beyond the pre-disruption level.
The release is dated 2 October 2026.
Launched on:
19 March 2026
Notification:
Notification No. 37/2026-27 dated 30 September 2026
ECGC risk coverage:
95%
Policies covered:
obtained on or after 16 March 2026
Why it matters for exams: RELIEF links trade policy, the Export Promotion Mission and ECGC credit insurance in a single scheme question.
UPSCBank
In plain words
ECGC Export Credit Guarantee Corporation of India — A state-owned company that insures Indian exporters against payment and shipment risks.
Reefer container Refrigerated container — A temperature-controlled shipping container used for perishable cargo.
2 October 2026
The Department of Commerce has extended the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme up to 31st December 2026.
The extension was made through Notification No. 41/2026-27 dated 30th September 2026.
The scheme shall be available for exports made by Domestic Tariff Area (DTA) Units, Advance Authorisation (AA) Holders, Special Economic Zone (SEZ) Units and Export Oriented Units (EOUs).
RoDTEP refunds embedded, un-rebated Central, State and local duties, taxes and levies borne on exported products.
Existing RoDTEP rates and value caps remain unchanged during the extension period.
The announcement was issued by the Ministry of Commerce and Industry on 2 October 2026.
Extended up to:
31st December 2026
Notification:
Notification No. 41/2026-27 dated 30th September 2026
Covered units:
DTA Units, AA Holders, SEZ Units and EOUs
Why it matters for exams: RoDTEP is the main WTO-compatible export remission scheme, and its validity date and covered categories are frequently asked.
UPSCSSCBank
In plain words
RoDTEP Remission of Duties and Taxes on Exported Products — A scheme that refunds taxes and levies hidden in the cost of exported goods.
DTA Domestic Tariff Area — The part of India outside special economic zones, where normal customs duties apply.
EOU Export Oriented Unit — A unit set up to produce goods wholly or mainly for export.
2 October 2026
Chief Minister V D Satheesan will perform the State-level inauguration of the She Scooter distribution at the Jimmy George Indoor Stadium, Vellayambalam, Thiruvananthapuram on October 5, 2026.
The electric scooters go to women fisher entrepreneurs, and the programme is part of the government's 100-day action agenda.
V E Abdul Gafoor, Minister for Fisheries, Social Justice and Harbour Engineering, will preside over the function.
Health Minister K Muraleedharan will release the logo and Transport Minister C P John will hand over financial assistance to enterprises.
Thiruvananthapuram MP Shashi Tharoor will conduct the first sale of the branded clothing line.
The Information and Public Relations Department release, P.N.X. 4087/2026 dated October 1, 2026, names MLAs M Vincent, N Shakthan, Ramya Haridas, V Joy and V Muraleedharan, Thiruvananthapuram Mayor V V Rajesh and District Panchayat President V Priyadarshini among those taking part.
Date of inauguration:
October 5, 2026
Venue:
Jimmy George Indoor Stadium, Vellayambalam, Thiruvananthapuram
Beneficiaries:
Women fisher entrepreneurs
Programme:
100-day action agenda
Why it matters for exams: Scheme name, beneficiary group and the department behind it are the three things PSC asks about any new State programme.
Kerala PSC
In plain words
I&PRD Information and Public Relations Department — The Kerala department that issues official press releases for the government.
1 October 2026
A new Monetary Policy Framework Agreement was signed on 1 October 2026 setting Sri Lanka's inflation target at 5% for the next three years.
The target carries a tolerance margin of plus or minus 2 percentage points.
It was signed by Hon. Anura Kumara Dissanayake, Minister of Finance, Planning and Economic Development and President of Sri Lanka, and Dr P Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka.
The agreement was entered into under Section 26 of the Central Bank of Sri Lanka Act, No. 16 of 2023.
It was published in Government Gazette Extraordinary No. 2508/28 dated 1 October 2026.
Quarterly headline inflation is the simple average of the year-on-year percentage changes in the monthly Colombo Consumer Price Index for the three months of each calendar quarter.
Inflation target:
5%
Tolerance margin:
plus or minus 2 percentage points
Period covered:
Three years
Legal provision:
Section 26 of the Central Bank of Sri Lanka Act, No. 16 of 2023
Gazette:
Government Gazette Extraordinary No. 2508/28
Why it matters for exams: Inflation targeting agreements between a finance ministry and a central bank are a standard comparison question alongside India's own 4 per cent target.
Kerala PSCUPSC
In plain words
Monetary Policy Framework Agreement Agreement setting a central bank's inflation target — It fixes the numerical target a central bank must steer inflation towards.
CBA Central Bank of Sri Lanka Act, No. 16 of 2023 — The law that replaced the Monetary Law Act and gave the Central Bank its present mandate.
1 October 2026
Bangladesh Bank data show that remittances in the July-September quarter of the 2026-27 fiscal year were 8.59 billion dollars, 13.3 per cent higher than 7.59 billion dollars in the same quarter a year earlier.
September 2026 brought in 2.77 billion dollars, a 3 per cent rise over September 2025 but the lowest monthly figure in eleven months.
Monthly inflows were 2.82 billion dollars in June 2026, 2.86 billion dollars in July and 2.97 billion dollars in August.
Remittances in the 2025-26 fiscal year totalled 35.59 billion dollars, against 30.33 billion dollars the previous year.
The highest single month on record was March 2026 with 3.75 billion dollars.
Quarterly remittances:
8.59 billion dollars
Growth over a year earlier:
13.3 per cent
September 2026:
2.77 billion dollars
Fiscal 2025-26 total:
35.59 billion dollars
Record month:
March 2026, 3.75 billion dollars
Why it matters for exams: Remittance inflows are a recurring balance-of-payments question and Bangladesh is among the largest recipients in South Asia.
UPSCBank
In plain words
Remittance Remittance — Money sent home by citizens working abroad, counted in the current account of the balance of payments.
Fiscal year Financial year — Bangladesh's fiscal year runs from 1 July to 30 June, so 2026-27 began in July 2026.
1 October 2026
The Kerala State Electricity Board has begun receiving 600 MW of power from Himachal Pradesh, helping the State avoid power cuts. Under the agreement HPSEB will supply 600 MW during peak hours from October 1, 2026 to May 31, 2027 at Rs 14.5 per unit; an earlier offer of 210 MW of round-the-clock power at Rs 10 per unit was turned down because surplus power was available during the daytime and the power exchange was cheaper. With the additional supply, Kerala's available peak-hour power has increased to around 4,795 MW, while average consumption in the State ranges between 4,500 MW and 5,000 MW. On September 30 the State recorded a peak demand of 5,459 MW and a shortage of 900 MW, and night-time power restrictions were imposed. Hydroelectric generation was around 19.23 MU as storage in the dams fell to 61.29%, against 78.92% at the same point a year earlier. KSEB is also looking to commission five Battery Energy Storage System (BESS) projects, the 15 MW Mulleria project being scheduled first, with projects at Mylatty (125 MW), Sreekandapuram (40 MW), Areecode (30 MW) and Pothencode (40 MW) expected by the end of the year.
Quantum from Himachal Pradesh:
600 MW during peak hours
Tariff:
Rs 14.5 per unit
Supply period under the agreement:
October 1, 2026 to May 31, 2027
Available peak-hour power:
around 4,795 MW
Peak demand on September 30, 2026:
5,459 MW
Why it matters for exams: Inter-State power purchase, peak-hour tariffs and battery storage are the three current-affairs handles an examiner can attach to Kerala's dependence on imported power.
Kerala PSCUPSC
In plain words
HPSEB Himachal Pradesh State Electricity Board — The State electricity utility of Himachal Pradesh, which is selling the peak-hour power.
BESS Battery Energy Storage System — Large batteries that store power when demand is low and release it at peak hours.
MU Million units — A unit of electricity generation equal to one million kilowatt-hours.
1 October 2026
The International Labour Organization said in a preliminary assessment that Nepal's flash floods have severely disrupted employment and livelihoods. The catastrophic flooding in late August was triggered by a glacier collapse on the border with China. More than 1,450 people were killed and 5,786 are still missing, according to the authorities. The ILO estimates some 21,400 employed people live within four kilometres of the flood footprint. Two overland routes with China, Rasuwa and Tatopani, accounted for some 22 per cent of Nepal's imports from China over the past year.
Killed:
more than 1,450
Missing:
5,786
Employed people near flood footprint:
some 21,400
Imports from China via Rasuwa and Tatopani:
some 22 per cent
Why it matters for exams: Disasters and the economy: glacier-collapse floods and their effect on jobs and trade.
Kerala PSCUPSC
In plain words
ILO International Labour Organization — The UN agency that sets labour standards and tracks work and livelihoods.
1 October 2026
The Reserve Bank of India issued Amendment Directions on a simplified approval process for subsequent acquisitions of major shareholding in a banking company by mutual funds, insurance companies and pension funds.
The draft was issued on 14 July 2026, with comments invited by 4 August 2026.
Four sets of directions were issued, for Commercial Banks, Small Finance Banks, Payments Banks and Local Area Banks, and they take immediate effect.
Draft issued:
14 July 2026
Comments due:
4 August 2026
Categories of banks covered:
4
Effect:
Immediate
Why it matters for exams: RBI regulatory changes affecting banks are routine banking-awareness questions.
UPSCBank
In plain words
Amendment Directions RBI Amendment Directions — Formal regulatory instruments by which RBI changes its existing directions to banks.
1 October 2026
The Reserve Bank of India released the indicative calendar for State Government and Union Territory market borrowings for October-December 2026.
Total borrowing in the quarter is expected to be ₹3,60,820 crore.
The Benchmark Issuance Strategy (BIS) is extended from Q3 FY 2026-27 to Assam, Goa, Haryana, Mizoram, Nagaland, Tripura and the Union Territory of Jammu and Kashmir.
Actual amounts depend on State requirements, Government of India approval under Article 293(3) of the Constitution and market conditions.
Expected State/UT borrowing, Oct-Dec 2026:
₹3,60,820 crore
New BIS entrants from Q3:
6 States + 1 UT
Approval required under:
Article 293(3)
Why it matters for exams: State borrowing, Article 293 and RBI's debt-management role are standard economy and polity topics.
Kerala PSCUPSCBank
In plain words
BIS Benchmark Issuance Strategy — An RBI framework in which participating States issue securities of benchmark sizes on an announced calendar.
1 October 2026
The Information and Public Relations Department announced on 1 October 2026 that a gathering of fisherwomen entrepreneurs and the inauguration of electric scooter distribution under the state-level 'She Scooter' scheme will be held on 5 October at 10 am. The venue is the Vellayambalam Jimmy George Indoor Stadium in Thiruvananthapuram. Chief Minister V D Satheesan will inaugurate it. The programme is part of the government's hundred-day action plan. Fisheries Minister V E Abdul Gafoor will preside, and Transport Minister C P John will distribute financial assistance to enterprises.
Launch date:
5 October 2026, 10 am
Venue:
Vellayambalam Jimmy George Indoor Stadium, Thiruvananthapuram
Vehicles:
Electric scooters
Why it matters for exams: New schemes launched under the Satheesan government's hundred-day action plan are likely Kerala PSC current-affairs questions.
Kerala PSC
In plain words
Hundred-day action plan Government's first-100-days programme — A set of time-bound projects a new government commits to complete in its first hundred days.
1 October 2026
The International Labour Organization released a preliminary assessment of the late-August flash floods in northern Nepal on Thursday.
The flooding was triggered by a glacier collapse on the border with China; authorities say more than 1,450 people were killed and 5,786 are still missing.
Some 21,400 employed people live within four kilometres of the flood footprint.
The Rasuwa and Tatopani routes accounted for some 22 per cent of Nepal's imports from China over the past year, and Rasuwa handled nearly half of exports to China.
The ILO warns that informal, daily-wage and self-employed workers are at heightened risk.
Killed (authorities):
more than 1,450
Still missing:
5,786
Workers near flood footprint:
some 21,400
Imports from China via Rasuwa and Tatopani:
some 22 per cent
Why it matters for exams: Himalayan glacier hazards, UN agency reports and Nepal-China trade routes are recurring themes in geography and current-affairs papers.
Kerala PSCUPSC
In plain words
ILO International Labour Organization — A UN agency that sets labour standards and studies employment.
Informal employment — Work without a formal contract, steady wages or social protection.
1 October 2026
The International Labour Organization (ILO) released a preliminary assessment on 1 October 2026 of the late-August flash floods in northern Nepal.
The floods, triggered by a glacier collapse on the border with China, killed more than 1,450 people and 5,786 are still missing, according to the authorities.
The ILO estimated that some 21,400 employed people live within four kilometres of the flood footprint; tourism, agriculture, transport and small-business workers are under particular pressure.
Two overland routes, Rasuwa and Tatopani, accounted for some 22 per cent of Nepal's imports from China over the past year; Rasuwa handles nearly half of exports to China.
The ILO warned informal and daily-wage workers face the greatest risk, and that severe household income losses could raise child labour.
Killed:
more than 1,450
Still missing:
5,786
Workers within 4 km of flood footprint:
some 21,400
Why it matters for exams: Glacial-lake and glacier hazards in the Himalaya and the ILO's role are recurring geography and organisations topics.
Kerala PSCUPSC
In plain words
ILO International Labour Organization — The UN agency for labour standards and employment, headquartered in Geneva.