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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Issues Monetary Policy Report (Oct 2025) Following 57th MPC Meeting

• The Reserve Bank of India (RBI) released its Monetary Policy Report (Oct 2025) after the 57th MPC meeting (Sep 29–Oct 1, 2025).
• Repo rate was kept unchanged at 5.50% with a neutral stance to balance growth and stability.
• The RBI revised India’s GDP growth forecast for FY 2025-26 to 6.8% (earlier 6.5%).

Key Highlights :

Domestic Growth Trends

• India’s real GDP grew 7.8% in Q1 FY 2025-26, the fastest in 7 quarters, led by investment and consumption.
• Growth projections for FY 2025-26: 6.8% (Q1: 7.8%, Q2: 7.0%, Q3: 6.4%, Q4: 6.2%).
• FY 2026-27 GDP growth is projected at 6.6%, assuming a normal monsoon and stable conditions.
• Strong consumption, investments, government spending, GST 2.0, rising credit flow, and capacity utilisation supported momentum.
• Consumers’ optimism (Future Expectations Index) improved for urban and rural households.

Global Growth Agencies on India

• IMF: 6.4% (FY26), Fitch: 6.9% (FY26), 6.3% (FY27), S&P: 6.5% (FY26).
• UN: 6.3% (FY26), 6.4% (FY27), OECD: 6.7% (FY26), CII: 6.4–6.7% (FY26).
• Agencies highlighted robust domestic demand, investments, reforms, and a vibrant services sector.

Inflation and Prices

• CPI inflation forecast for FY 2025-26 revised down to 2.6% (earlier 3.1%).
• CPI inflation fell to an 8-year low of 1.6% (July 2025), then rose to 2.1% (Aug 2025), still within RBI’s target band.
• Food prices declined 10.5% for 9 months, the longest fall in CPI history.
• Milder summer temperatures and GST 2.0 rate rationalisation lowered inflation further.
• GST reforms (Sep 2025) simplified taxes, reduced prices, and impacted 11.4% of the CPI basket.

External Sector and Global Trade

• Current account deficit (CAD) narrowed to 2% of GDP in Q1 FY 2025-26 (from 0.9% a year ago).
• Remittances reached US$ 35.3 billion, keeping India the world’s largest recipient.
• Merchandise exports rose 2.5% (Apr–Aug 2025), imports grew 2.1%.
• Services exports maintained double-digit growth, boosting external stability.
• Gross FDI inflows were US$ 37.7 billion (Apr–July 2025), with US$ 10.8 billion net inflows led by Singapore, US, Mauritius, UAE, Netherlands (76% share).

Markets, Liquidity & Currency

• Equity markets gained steadily (Apr–Sep 2025): Sensex +3.9%, MidCap +7.7%, SmallCap +12.1%.
• The Indian Rupee showed two-way movement but remained among the least volatile EM currencies.
• Stability supported by narrower CAD, strong remittances, forex reserves, and services exports.

Life Insurance Corporation of India Partners with RBL Bank to Offer Bancassurance Services

• The Life Insurance Corporation of India (LIC), the country’s largest life insurer, has entered into a bancassurance partnership with RBL Bank Limited..
• This strategic collaboration will allow RBL Bank customers to access LIC’s life insurance products through the bank’s branch network and digital channels.
• The partnership was formally announced in the presence of Shri R. Doraiswamy, CEO & MD, LIC of India and Shri R. Subramaniakumar, MD & CEO, RBL Bank Ltd. along with senior officials.
• Through this collaboration, customers will have access to LIC’s diverse product portfolio including term plans, endowment policies, pension plans, and unit-linked insurance plans (ULIPs).
• The tie-up will leverage the combined network of over 3600 LIC branches and nearly 570 RBL Bank branches (with 1474 business correspondent branches, of which 297 are banking outlets).
• The collaboration supports the national vision of “Insurance for All by 2047”, aiming to expand financial protection and insurance penetration across India.

What is Bancassurance? 

• Bancassurance is a partnership where banks sell insurance products of tied insurance companies to their customers.
• It benefits both as banks earn extra revenue and insurers expand their customer base without increasing their sales force.

Reserve Bank of India Issues Basel III Guidelines on Perpetual Debt Instruments in AT1 Capital for Foreign Currency and Rupee Bonds Overseas, 2025

• The Reserve Bank of India (RBI) issued the “Basel III Capital Regulations – PDI in AT1 Capital – Eligible Limit for Foreign Currency/Rupee Denominated Bonds Overseas) Directions, 2025”, effective from October 1, 2025.
• The directions revise the eligible limit for Perpetual Debt Instruments (PDIs) denominated in foreign currency or rupee-denominated bonds overseas.
• PDIs issued overseas are now eligible for inclusion in Additional Tier 1 (AT1) capital up to 1.5% of Risk Weighted Assets (RWAs) based on the latest audited or limited review financial statements.
• The directions were issued under Section 35A of the Banking Regulation Act, 1949 in public interest.

What are AT1 Bonds?

• AT1 Bonds (Additional Tier 1 Bonds) are a type of perpetual debt instrument that banks issue to raise capital under Basel III regulations.
• AT1 Bonds strengthen a bank’s Tier 1 capital, which acts as a cushion to absorb losses and maintain financial stability.
• AT1 Bonds have no fixed maturity, and the principal may not be repaid on a specific date.
• AT1 Bonds can be written down or converted into equity if the bank’s capital falls below a pre-set threshold, protecting the bank from insolvency.
• Due to higher risk, AT1 Bonds typically offer higher interest rates than traditional bonds.
• The minimum investment in AT1 Bonds is Rs 10 lakhs to 1 crore, making them suitable for High Net Worth Individuals (HNIs) and institutional investors.

Banks, Non-Banking Financial Company Given Discretion on Allowing Borrowers to Switch from Floating to Fixed Rate Loans

• Banks and Non-Banking Financial Company (NBFC) are no longer mandatorily required to give borrowers the option to switch from floating rate to fixed rate on EMI-based personal loans; it is now at the lender’s discretion.
• Lenders may allow switching of loan rates as per their Board-approved policy, including the number of times a borrower can switch during the loan tenure.
• Banks can decide a spread over the benchmark, but all components except credit risk premium can be revised only once in three years.
• MSME loans are linked to external benchmarks, and banks may charge a spread over EBLR (External Benchmark Linked Lending Rate) based on the borrower’s credit profile, which can be changed only once in three years.
• The change is driven by decrease in cost of funds and reduction in CRR from 4% to 3%, lowering negative returns for banks.
• These are part of the Amendment Directions, 2025, effective October 1, 2025, ensuring transparency and consistency in floating rate loans.

Reserve Bank of India Amends Lending Rules on Gold and Silver Collateral, Effective October 1, 2025

• The Reserve Bank of India (RBI) amended its Lending Against Gold and Silver Collateral Directions, 2025, effective October 1, 2025.
• Banks are prohibited from lending for the purchase of gold or silver in any form, or against the security of primary gold or silver.
• A carve-out allows Scheduled Commercial Banks (SCBs) to provide working capital loans to jewellers.
• The amendment extends this carve-out to cover any need-based working capital requirements of borrowers using gold as raw material or input in manufacturing or industrial processing.
• Tier 3 and Tier 4 Urban Co-operative Banks are permitted to grant such working capital loans under the same guidelines as SCBs.
• The amendment aims to provide greater flexibility to banks while supporting industrial and manufacturing activities involving gold.
• The changes are incorporated into RBI (Lending Against Gold and Silver Collateral) Directions, 2025.
• The direction has been issued under Banking Regulation Act, 1949 (Sections 21, 35A, 56), RBI Act, 1934 (Sections 45JA, 45L, 45M) and National Housing Bank Act, 1987 (Sections 30A, 32, 33).

Reserve Bank of India Proposes Amendments to Large Exposures Framework for Foreign Bank Branches in India

• The Reserve Bank of India (RBI) has issued a draft circular proposing amendments to the Large Exposures Framework (LEF) and LEF-Credit Risk Mitigation (CRM) framework for foreign bank branches in India.
• The Amendment Circular has been issued under Sections 21 and 35A of the Banking Regulation Act, 1949, along with other enabling laws, in the public interest.
• The revised provisions will come into effect from April 1, 2026, though banks are allowed to implement them earlier.
• The amendments focus on tightening reporting and calculation of intra-group exposures of foreign banks.
• The intra-group exemption under LEF has been removed. Exposures of an Indian branch to its Head Office (HO) or any branch/subsidiary of the HO worldwide will now be counted under LEF and must comply with counterparty limits.
• All transactions between the Indian branch and its HO/HO branches — including those cleared through a central counterparty (CCP) — must now be calculated on a gross basis for LEF limits.
• These changes aim to strengthen regulatory oversight and ensure conservative risk calculation for foreign bank operations in India.

Reserve Bank of India Issues Draft Amendments to Credit Information Reporting Directions, 2025, Effective April 1, 2026

• The Reserve Bank of India (RBI) released draft amendments to the Credit Information Reporting Directions, 2025, effective April 1, 2026, to strengthen the credit reporting framework.

Key Highlights :

• Credit Institutions (CIs) and Credit Information Companies (CICs) must now update credit information weekly on the 7th, 14th, 21st, 28th, and last day of the month, or at shorter mutually agreed intervals.
• CIs must submit a full monthly file containing all active accounts and accounts where the borrower relationship has ended by the 3rd day of the next month.
• The current RBI Master Direction – Credit Information Reporting Directions, 2025 mandates fortnightly or shorter submissions of credit information by CIs to CICs.
• CIs must report borrowers’ Central KYC (CKYC) numbers wherever available.
• CICs must report CIs that fail to adhere to data submission timelines on the DAKSH portal to the RBI twice a year (March 31 and September 30).
• The timeline for CICs to share rectification reports with CIs has been reduced from seven days to two days.
• Data Quality Index (DQI) scores for Consumer, Commercial, and Microfinance segments must be provided monthly by the 7th day of the next month.
• The four CICs in India are: CIBIL, Equifax, Experian, and CRIF High Mark.
• Credit Institutions (CIs) include all commercial banks (including small finance banks, local area banks, and regional rural banks) but exclude payment banks.
• CIs also include primary (urban) co-operative banks, state co-operative banks, and central co-operative banks.
• All India Financial Institutions (AIFIs) regulated by RBI, such as EXIM Bank, NABARD, NHB, SIDBI, and NaBFID, are classified as CIs.
• Non-Banking Financial Companies (NBFCs), including housing finance companies, and all Asset Reconstruction Companies (ARCs) are also classified as CIs.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

CABINET APPROVALS

I) Cabinet Committee on Economic Affairs Approves Opening of 57 New Kendriya Vidyalayas (KVs) Across India

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the opening of 57 new Kendriya Vidyalayas (KVs) under Civil sector.
• Total Outlay: ₹5862.55 crore over 9 years (2026–27 onwards)
  • Capital Expenditure: ₹2585.52 crore
  • Operational Expenditure: ₹3277.03 crore
• For the first time, these KVs will have Balvatikas (3 years pre-primary) as per National Education Policy (NEP) 2020.
• Distribution: 17 States/UTs covered → 20 in districts without KVs, 14 in Aspirational Districts, 4 in Left Wing Extremism (LWE) districts, 5 in North-Eastern/Hilly areas.
• Sponsorship: 7 by Ministry of Home Affairs, 50 by State/UT authorities.
• Impact: 86,640 students to benefit; 4617 direct jobs created; indirect jobs via construction and allied activities.
• Expansion: Builds on 85 KVs sanctioned in Dec 2024; ensures pan-India balanced coverage.
• Current Network: 1288 functional KVs (including 3 abroad – Moscow, Kathmandu, Tehran) with 13.62 lakh students (June 2025).
• Quality Benchmark: 913 KVs designated as PM Shri Schools under NEP 2020, reinforcing inclusivity, integration, and quality education in underserved regions.

II) Cabinet Committee on Economic Affairs Approves ₹6957 Cr Project for 4-Laning of Kalibor–Numaligarh NH-715 with Wildlife Corridor in Assam

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved widening of Kalibor–Numaligarh section of NH-715 (85.675 km) to 4 lanes with wildlife-friendly measures near Kaziranga National Park.
• Mode: Engineering, Procurement and Construction (EPC).
• Total Capital Cost: ₹6957 crore (Civil Cost: ₹4829 cr; Land Acquisition: ₹622 cr).
• Wildlife Corridor: 34.5 km elevated stretch for free animal passage across Kaziranga–Karbi Anglong; plus 30.22 km road upgradation & 21 km bypasses (Jakhalabandha–11.5 km; Bokakhat–9.5 km).
• Connectivity: Links with NH-127, NH-129, SH-35; integrates with 3 airports (Tezpur, Lilabari, Jorhat) & 3 railway stations (Nagaon, Jakhalabandha, Vishwanath Chariali).
• Socio-Economic Links: Covers 2 economic nodes (Tezpur & Nagaon fishing clusters), 2 tribal districts (Karbi Anglong & Wokha), 8 tourist/religious places (Kaziranga NP, Kakochang Waterfall, Baba Than Temple, Maha Mrityunjay Temple, Hatimura Temple, etc.).
• Major Cities Connected: Guwahati, Nagaon, Golaghat, Numaligarh, Jorhat.
• Employment Potential: 15.42 lakh direct & 19.19 lakh indirect man-days.
• Traffic: Annual Average Daily Traffic (FY25) estimated at 13,800 Passenger Car Units (PCU).
• The project will boost tourism in Kaziranga, improve safety, strengthen trade & logistics, and promote regional growth and industrial development in Assam.

III) Cabinet Committee on Economic Affairs Approves Hike in MSP for Rabi Crops for Marketing Season 2026-27

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved the increase in Minimum Support Prices (MSP) for all mandated Rabi crops for Marketing Season 2026-27.
• The highest absolute increase is for Safflower (+₹600/quintal), followed by Lentil/Masur (+₹300/quintal).
• Other hikes: Rapeseed & Mustard (+₹250/quintal), Gram (+₹225/quintal), Barley (+₹170/quintal), Wheat (+₹160/quintal).
• The decision ensures remunerative prices to farmers, aligned with the Union Budget 2018-19 policy of fixing MSP at 1.5x All-India Weighted Average Cost of Production.
• Expected margins over cost of production: Wheat (109%), Rapeseed & Mustard (93%), Lentil (89%), Gram (59%), Barley (58%), Safflower (50%).
• MSP will support farm income security, crop diversification, and strengthen the Rabi procurement system.

Revised MSP for Rabi Crops 2026-27 (₹/quintal)

• Wheat – 2585 (↑160; Margin: 109%)
• Barley – 2150 (↑170; Margin: 58%)
• Gram – 5875 (↑225; Margin: 59%)
• Lentil (Masur) – 7000 (↑300; Margin: 89%)
• Rapeseed & Mustard – 6200 (↑250; Margin: 93%)
• Safflower – 6540 (↑600; Margin: 50%)

IV) Union Cabinet Approves 3% Hike in Dearness Allowance and Dearness Relief

• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners.
• Effective from 01 July 2025, the hike represents an increase of 3% over the existing 55% of Basic Pay/Pension, aimed at compensating for price rise.
• The decision will benefit about 49.19 lakh Central Government employees and 68.72 lakh pensioners.
• The combined impact on the exchequer due to the increase in DA and DR is Rs. 10,083.96 crore per annum.
• The hike is in line with the accepted formula based on the recommendations of the 7th Central Pay Commission.

V) Union Cabinet Approves Mission for Aatmanirbharta in Pulses

• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Mission for Aatmanirbharta in Pulses, a 6-year programme (2025-26 to 2030-31) with a financial outlay of Rs. 11,440 crore.
• Objective: Achieve self-sufficiency in pulses, reduce import dependency, boost domestic production, and enhance farmers’ income.
• India is the world’s largest producer and consumer of pulses, yet rising demand has led to 15–20% import dependency.
• Strategy: Comprehensive measures on research, seed systems, area expansion, procurement, and price stability.
• Seed Production Plan: States to prepare 5-year rolling plans; ICAR to supervise breeder seeds; state and central agencies to manage foundation and certified seeds via the SATHI portal.
• Certified Seed Distribution: 126 lakh quintals to be distributed, covering 370 lakh hectares by 2030-31.
• Expansion of Area: Additional 35 lakh hectares, targeting rice fallow lands and diversifiable areas through intercropping and crop diversification.
• Seed Kits: 88 lakh kits to be distributed free of cost.
• Capacity Building: Structured training programmes for farmers and seed growers on sustainable and modern techniques.
• Post-Harvest Infrastructure: 1000 processing units with a subsidy up to Rs. 25 lakh per unit to reduce losses and improve value addition.
• Cluster-Based Approach: Tailored interventions for regional needs to enhance productivity and diversification.
• Assured Procurement: Maximum procurement of Tur, Urad, and Masoor under the Price Support Scheme (PSS) of PM-AASHA.
  • NAFED and NCCF to undertake 100% procurement in participating states for the next 4 years.
• Monitoring Global Prices: Mechanism to safeguard farmer confidence against price fluctuations.
• Targets by 2030-31:
  • Area under pulses: 310 lakh hectares
  • Production: 350 lakh tonnes
  • Yield: 1130 kg/ha

VI) Union Cabinet Approves Continuation of Biomedical Research Career Programme (BRCP) Phase-III

• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of the Biomedical Research Career Programme (BRCP), Phase-III.
• Implemented by Department of Biotechnology (DBT) in partnership with the Wellcome Trust (WT), UK and the SPV India Alliance.
• Duration & Cost:
  • Phase-III (2025-26 to 2030-31) with an additional 6 years (2031-32 to 2037-38) to service fellowships and grants.
  • Total cost: Rs. 1500 crore (DBT – Rs. 1000 crore, WT, UK – Rs. 500 crore).
• Objective: Build world-class biomedical research capacity, nurture top-tier scientific talent, foster interdisciplinary and translational innovation, and reduce regional disparities in research capacity.
• Background:
  • Launched in 2008-09 (Phase-I) under DBT/Wellcome Trust India Alliance, offering fellowships in biomedical research.
  • Phase-II launched in 2018-19 with an expanded portfolio.
• Programmes under Phase-III:

1. Early Career & Intermediate Research Fellowships – Globally recognized, tailored for early-stage researchers in basic, clinical, and public health sciences.
2. Collaborative Grants Programme – Includes Career Development Grants (early career) and Catalytic Collaborative Grants (mid-senior researchers).
3. Research Management Programme – To strengthen research support systems.

India Re-elected to Part II of ICAO Council for 2025–2028

• India has been re-elected to Part II of the Council of the International Civil Aviation Organization (ICAO), a specialized UN agency, which includes States making the largest contribution to international civil air navigation facilities.
• The election was held on 27 September 2025 during the 42nd ICAO Assembly Session in Montreal, Canada.

Key Highlights

• India secured more votes than in 2022, reflecting increased confidence in its leadership and commitment to global civil aviation.
• Ministry of Civil Aviation and MEA engaged Member States, and a reception for Ambassadors and High Commissioners was hosted on 2 September 2025 in New Delhi to support India’s candidature.
• India’s ICAO Role: Founding member since 1944, with 81 years of uninterrupted presence; contributes to policy development, regulatory frameworks, international standards, and promotes safe, secure, sustainable, harmonized, and gender-inclusive civil aviation.
• The ICAO Assembly, held every three years, comprises 193 Member States of the Chicago Convention and elects the 36-member ICAO Council for a three-year term.
• Commitments for 2025–2028: Strengthening aviation safety, security, and sustainability, promoting equitable air connectivity, advancing technology and innovation, and supporting ICAO’s “No Country Left Behind” initiative.

CURRENT AFFAIRS : INTERNATIONAL NEWS

UN High Seas Biodiversity Treaty Secures 60 Ratifications, To Take Effect in January 2026

• A landmark UN treaty to safeguard marine biodiversity on the high seas has received the required 60 ratifications, enabling it to enter into force in January 2026.
• Morocco and Sierra Leone became the 60th and 61st parties to ratify the pact.
• The treaty, officially called the Agreement under UNCLOS on the Conservation and Sustainable Use of Marine Biological Diversity of Areas Beyond National Jurisdiction (BBNJ Agreement), was adopted in June 2023 after nearly two decades of negotiations.
• The High Seas Treaty covers two-thirds of the world’s ocean area that lies beyond national boundaries.
• From 17 January 2026, the treaty will support global biodiversity targets, including the goal to protect 30% of land and sea areas by 2030 under the Kunming-Montreal Global Biodiversity Framework.
• The high seas begin where Exclusive Economic Zones (EEZs) end, at a maximum of 270 nautical miles (370 km) from coasts, and are outside any state’s jurisdiction.

International Atomic Energy Agency Approves Maldives’ Membership Bid at 69th General Conference in Vienna

• The International Atomic Energy Agency (IAEA) accepted the Maldives’ application for membership at its 69th General Conference in Vienna, Austria.
• The Maldives became the 181st member country of the IAEA on 15th September 2025.
• The 69th IAEA General Conference focused on nuclear peace, non-proliferation, and the peaceful use of nuclear technology, with a Scientific Forum on water management and the inauguration of a new Visitor Centre.
• Ajit Kumar Mohanty, Chairman of the Atomic Energy Commission (AEC) and Secretary of the Department of Atomic Energy (DAE), led the Indian delegation.
• Peter Burian, Ambassador of Slovakia to IAEA, was elected President of the 69th General Conference, overseeing nuclear policy discussions and resolutions.

About IAEA :

• Headquarters – Vienna, Austria
• Director General (DG) – Rafael Mariano Grossi.

CURRENT AFFAIRS : SUMMITS & CONFERENCES

Union Health Minister J. P. Nadda opens the third Global Food Regulators Summit 2025

• The Union Health Minister Jagat Prakash Nadda inaugurated the third Global Food Regulators Summit 2025 at Bharat Mandapam, emphasizing the link between food, physical health, and mental well-being.
• He highlighted obesity as a major health concern and reiterated Prime Minister Modi’s call for a 10% reduction in edible oil consumption, while praising FSSAI’s Eat Right India initiative for encouraging healthy and sustainable diets.
• The summit was organized by FSSAI under the theme “Evolving Food Systems – Yatha Annam Tatha Manah”, stressing how food quality affects emotional balance and societal values.
• A key feature was the launch of the Eat Right Thali book, presenting nutritionally balanced traditional Indian meals to promote mindful and sustainable eating.
• The summit had participation from 59 countries, global bodies like the World Health Organization (WHO) and World Trade Organization (WTO), and over 100 Indian representatives.

CURRENT AFFAIRS : APPS & PORTALS

Union Minister Dr. Mansukh Mandaviya Unveils MY Bharat Mobile App

• Union Minister Dr. Mansukh Mandaviya launched the MY Bharat Mobile Application in New Delhi.
• The app is part of the MY Bharat platform, an online Youth Leadership and Social Engagement Platform under the Department of Youth Affairs (DoYA), Ministry of Youth Affairs & Sports.
• The app was developed by Digital India Corporation (DIC), Ministry of Electronics & IT (MeitY).
• The mobile app enhances accessibility and convenience, offering youth an intuitive, easy-to-use interface to explore opportunities anytime, anywhere.
• Through the app, youth can participate in the Viksit Bharat Young Leaders Dialogue (VBYLD) 2026 Quiz, making it a space for engagement, learning, and awareness.
• Common Services Centres (CSCs) have been integrated with the MY Bharat Portal, expanding reach via 5 lakh+ Village Level Entrepreneurs (VLEs).
• CSCs will also promote CV Builder, Experiential Learning Opportunities, and Volunteer for Bharat
• The MY Bharat platform was launched by Prime Minister Narendra Modi on 31 October 2023.
• As of now, over 1.81 crore youth have registered and 1.20 lakh organisations have joined, making it one of India’s largest youth-centric digital ecosystems.

Food Safety and Standards Authority of India Introduces New Licensing Rules for Ayurveda Aahara Production on FoSCoS Portal

• The Food Safety and Standards Authority of India (FSSAI) has launched a dedicated licensing and registration window for Ayurveda Aahara products on its FoSCoS portal.
• This step allows manufacturers to easily apply for licenses to produce and market traditional Ayurvedic foods.
• A new ‘Kind of Business’ (KoB) framework has been introduced to formalize and regulate the Ayurveda Aahara sector.
• The framework aligns traditional Ayurvedic recipes with modern food safety and quality standards.
• The FSSAI has published a list of 91 pre-approved Ayurveda Aahara recipes (dated 25th July 2025) for Food Business Operators (FBOs) to ensure regulatory compliance and authenticity.
• This initiative has been developed in collaboration with the Ministry of Ayush.
• The measure reflects India’s commitment to integrating traditional Ayurvedic wisdom with contemporary food safety practices.
• The initiative aims to benefit both the food and Ayurveda industries and improve public health outcomes.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lt Gen Virendra Vats Assumes Charge as Director General of National Cadet Corps

• Lt Gen Virendra Vats assumed charge as the Director General of National Cadet Corps (NCC) on October 1, 2025, succeeding Lt Gen Gurbirpal Singh.
• The NCC is the world’s largest uniformed youth organisation, currently expanding its cadet strength to 20 lakhs across 28 States and 8 Union Territories.
• The NCC, with the motto “Unity and Discipline”, is aligning with Viksit Bharat@2047, focusing on innovation, digital skills, and global awareness along with character building and patriotism.
• Lt Gen Virendra Vats was commissioned into the 19 KUMAON Regiment on December 17, 1988 and has 37 years of service.
• Before this appointment, he was the Commandant of the Defence Services Staff College, Wellington.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Showcases Submarine Rescue Excellence at Exercise Pacific Reach (XPR-25)

• The Indian Navy’s Submarine Rescue Unit (East) embarked on INS Nistar showcased its capability at Exercise Pacific Reach 2025 (XPR-25) hosted by the Republic of Singapore Navy (RSN).
• XPR-25 (15–25 Sept 2025) saw participation from 40+ nations, conducted in two phases: shore (15–20 Sep) and sea (21–25 Sep) in the South China Sea.
• India presented its Deep Submergence Rescue Vehicle (DSRV) system philosophy and post-rescue medical preparedness during the shore phase.
• On 23 Sept 2025, Indian DSRV Tiger X undertook its maiden dive outside the Indian Ocean Region, achieving first foreign submarine mating with ROK Navy’s Submarine Shin Dol-Seok (S-082).
• The Indian DSRV also successfully mated with RSN’s submarine RSS Invincible, marking another milestone.
• On 25 Sept 2025, the first three-asset (R3) multinational rescue drill in Pacific Reach history was conducted, with INS Nistar spearheading operations.
• INS Nistar, MV Swift Rescue (RSN), and JS Chiyoda (Japan) coordinated to rescue RSS Invincible (simulating distressed submarine).
• XPR-25 was a watershed moment, marking India’s maiden foreign submarine matings and first multinational coordinated rescue drill participation, reinforcing India’s role in global submarine safety.

CURRENT AFFAIRS: MOUS AND AGREEMENT

National Institute of Food Technology Entrepreneurship and Management Signs 9 MoUs and Transfers 7 Food Technologies during World Food India 2025

• National Institute of Food Technology Entrepreneurship and Management (NIFTEM-K), Kundli, an Institute of National Importance under the Ministry of Food Processing Industries (MoFPI), signed 9 strategic MoUs with leading organizations, industry partners, and academic institutes during World Food India-2025.

Key Highlights

• The Institute also transferred 7 innovative technologies developed by its scientists to reputed companies in the presence of Shri A. P. Das Joshi, Secretary, MoFPI and Dr. Harinder Singh Oberoi, Director, NIFTEM-K.
• Technologies transferred include: Instant Composite Millet-Based Kheer Premix (RDz Bakery), Nutrient Bars & Probiotic Products (Hexagon Nutrition Ltd.), Rapid Cattle Pregnancy Kit & Paneer Adulteration Kit (ARF Life Sciences), Eggless Cake Premix (Crop Pure Pvt. Ltd.), Millet Puffs (Yes Bee Foods Pvt. Ltd.), Saksham Anganwadi & Mission Poshan 2.0 initiatives (Interlink Foods Pvt. Ltd.), and Unfermented Mayo (Jiwanmitra Nutraceuticals Pvt. Ltd.).
• MoUs were signed with: Quality Council of India, The Good Food Institute, Almond Board California, Danone India, Clear Meat Pvt. Ltd., Government Institute of Medical Sciences (Greater Noida), Institute of Bioresources & Sustainable Development (Imphal), Rejuvome Therapeutics (Bangalore), and Institute of Liver and Biliary Sciences (New Delhi).
• The collaborations reaffirm NIFTEM-K’s mission to drive food innovation, enhance nutritional security, promote sustainable growth in the food processing sector, and empower entrepreneurship.

Department for Promotion of Industry and Internal Trade Signs MoU with Thermo Fisher Scientific to Boost Biotech Innovation

• Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, signed an MoU with Thermo Fisher Scientific (TFS) to accelerate biotechnology innovation and nurture a strong pipeline of startups.
• The partnership will support over 500 biotech startups in the next three years through strategic advisory, technology access, mentorship, and investor connect.

Key Highlights

• Under Startup India’s Bharat Startup Grand Challenge (BSGC), TFS will launch the BioVerse Challenge and BioVerse Mentors Circle:
  • BioVerse Challenge: Identify and support 100 high-potential biotech startups with mentorship, subsidized R&D access, and investor connections.
  • BioVerse Mentors Circle: Train and guide 400 startups, expanding biotech skills and entrepreneurial expertise.
  • BioVerse Alumni Network: Provide long-term mentorship, coaching, and funding opportunities.
• Thermo Fisher’s upcoming facilities in Genome Valley, Hyderabad will further provide startups with advanced technologies to scale from prototype to product.
• The initiative combines Thermo Fisher’s global expertise with Startup India’s innovation ecosystem, positioning India as a global hub for biotech innovation.

Department of Posts signs MoU with Indian Institute of Packaging for Sustainable Packaging Solutions

• Department of Posts (DoP), Ministry of Communications signed a Memorandum of Understanding (MoU) with the Indian Institute of Packaging (IIP), an autonomous body under the Ministry of Commerce and Industry, to promote sustainable packaging and enhance postal service efficiency.
• The MoU was signed by Dr. Sudhir Jakhere, IPoS, Assistant Postmaster General (Business Development & Marketing), DoP, and Dr. Babu Rao Guduri, Additional Director, IIP, Mumbai at the Office of the Chief Postmaster General, Maharashtra Circle, Mumbai.

Key Highlights

• Key Areas of Collaboration:
  • Development of eco-friendly, cost-efficient, durable, lightweight, shockproof, scalable, and customizable packaging materials as alternatives to corrugated boxes and cloth wraps.
  • Designing airworthy packaging for liquids and sensitive items.
  • Assessment of DoP practices against global logistics benchmarks and industry standards.
  • Formulation of a pricing approach paper for sustainable materials, including cost benchmarking, technical standards (size, shape, design), quality control, and scalability for nationwide adoption.
  • Preparation of video training materials with graphics to train postal staff on sustainable packaging practices.
• The collaboration combines IIP’s 58 years of packaging expertise with DoP’s network of 1.65 lakh+ post offices, supporting the Government’s vision of environmental sustainability while strengthening the safety and security of India Post’s parcel services.

CURRENT AFFAIRS: IMPORTANT DAYS

Gandhi Jayanti and International Day of Non-Violence 2025

• October 2 is observed as Gandhi Jayanti in India and globally as the International Day of Non-Violence, declared by the United Nations General Assembly (UNGA) in June 2007.
• The day is marked by tributes at Raj Ghat in India and global events across countries including Belgium, USA, Spain, Serbia, Switzerland, Thailand, Kazakhstan, and the Netherlands.
• Origin of Satyagraha: Gandhi coined the term during his struggles against racial discrimination in South Africa (1893 onwards), advocating truth (satya) and insistence (agraha) through non-violent resistance.
• Gandhi’s philosophy inspired global leaders like Martin Luther King Jr. (USA) and Nelson Mandela (South Africa), showing that non-violence is a revolutionary tool for justice.
• The Fifth Ahimsa Lecture (Sept 2022) at the UNESCO Mahatma Gandhi Institute of Education for Peace and Sustainable Development (MGIEP) highlighted “Education for Human Flourishing” and used a life-size hologram of Gandhi.
• Government initiatives rooted in Gandhian ideals:
  • Swachh Bharat Mission (2014) – India declared ODF on Oct 2, 2019, over 12 crore toilets built, 5.66 lakh ODF+ villages.
  • Self-Help Groups (DAY-NRLM) – over 10.05 crore women mobilised into 90.90 lakh SHGs, loans worth ₹11.10 lakh crore disbursed.
  • SVAMITVA Scheme (2020) – over 65 lakh property cards distributed; 3.2 lakh villages surveyed by drones.
  • Khadi & Village Industries – Production up 4x, Sales 5x, Employment 49% increase in last 11 years; 1.94 crore employed (FY 2024-25).
  • PM Janjatiya Unnat Gram Abhiyan (2024) – outlay of ₹79,156 crore, benefiting 5 crore tribal citizens in 63,000 villages.
  • MGNREGA – 3.83 crore households provided work; 106.77 crore person-days generated (FY 2025-26).

Daily CA One- Liner: October 2 & 3

• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi has approved the opening of 57 new Kendriya Vidyalayas (KVs) under Civil sector.
• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved widening of Kalibor–Numaligarh section of NH-715 (85.675 km) to 4 lanes with wildlife-friendly measures near Kaziranga National Park.
• The Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Narendra Modi approved the increase in Minimum Support Prices (MSP) for all mandated Rabi crops for Marketing Season 2026-27
• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the release of an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners
• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the Mission for Aatmanirbharta in Pulses, a 6-year programme (2025-26 to 2030-31) with a financial outlay of Rs. 11,440 crore.
• Union Cabinet chaired by Prime Minister Shri Narendra Modi approved the continuation of the Biomedical Research Career Programme (BRCP), Phase-III.
• India has been re-elected to Part II of the Council of the International Civil Aviation Organization (ICAO), a specialized UN agency, which includes States making the largest contribution to international civil air navigation facilities.
• National Institute of Food Technology Entrepreneurship and Management (NIFTEM-K), Kundli, an Institute of National Importance under the Ministry of Food Processing Industries (MoFPI), signed 9 strategic MoUs with leading organizations, industry partners, and academic institutes during World Food India-2025.
• Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce & Industry, signed an MoU with Thermo Fisher Scientific (TFS) to accelerate biotechnology innovation and nurture a strong pipeline of startups
• Department of Posts (DoP), Ministry of Communications signed a Memorandum of Understanding (MoU) with the Indian Institute of Packaging (IIP), an autonomous body under the Ministry of Commerce and Industry, to promote sustainable packaging and enhance postal service efficiency.
• The Reserve Bank of India (RBI) released its Monetary Policy Report (Oct 2025) after the 57th MPC meeting (Sep 29–Oct 1, 2025).
• The Life Insurance Corporation of India (LIC), the country’s largest life insurer, has entered into a bancassurance partnership with RBL Bank Limited..
• The Reserve Bank of India (RBI) issued the “Basel III Capital Regulations – PDI in AT1 Capital – Eligible Limit for Foreign Currency/Rupee Denominated Bonds Overseas) Directions, 2025”, effective from October 1, 2025.
• Banks and Non-Banking Financial Company (NBFC) are no longer mandatorily required to give borrowers the option to switch from floating rate to fixed rate on EMI-based personal loans; it is now at the lender’s discretion.
• The Reserve Bank of India (RBI) amended its Lending Against Gold and Silver Collateral Directions, 2025, effective October 1, 2025.
• The Reserve Bank of India (RBI) has issued a draft circular proposing amendments to the Large Exposures Framework (LEF) and LEF-Credit Risk Mitigation (CRM) framework for foreign bank branches in India.
• The Reserve Bank of India (RBI) released draft amendments to the Credit Information Reporting Directions, 2025, effective April 1, 2026, to strengthen the credit reporting framework.
• A landmark UN treaty to safeguard marine biodiversity on the high seas has received the required 60 ratifications, enabling it to enter into force in January 2026.
• The International Atomic Energy Agency (IAEA) accepted the Maldives’ application for membership at its 69th General Conference in Vienna, Austria.
• The Union Health Minister Jagat Prakash Nadda inaugurated the third Global Food Regulators Summit 2025 at Bharat Mandapam, emphasizing the link between food, physical health, and mental well-being.
• Union Minister Dr. Mansukh Mandaviya launched the MY Bharat Mobile Application in New Delhi.
• The Food Safety and Standards Authority of India (FSSAI) has launched a dedicated licensing and registration window for Ayurveda Aahara products on its FoSCoS portal.
• Lt Gen Virendra Vats assumed charge as the Director General of National Cadet Corps (NCC) on October 1, 2025, succeeding Lt Gen Gurbirpal Singh.
• The Indian Navy’s Submarine Rescue Unit (East) embarked on INS Nistar showcased its capability at Exercise Pacific Reach 2025 (XPR-25) hosted by the Republic of Singapore Navy (RSN).
• October 2 is observed as Gandhi Jayanti in India and globally as the International Day of Non-Violence, declared by the United Nations General Assembly (UNGA) in June 2007