Daily Current Affairs 28 October 2026

Union Minister of State Dr L Murugan has resigned from his positions in the Ministry of Information and Broadcasting and the Ministry of Parliamentary Affairs. He has also stepped down as a member of the Rajya Sabha.

The Government e-Marketplace (GeM) has launched “The AABHAR Collection,” a dedicated digital storefront featuring curated gift items and hampers that reflect the cultural heritage of India.

The collection features products associated with the One District, One Product (ODOP) initiative and Geographical Indication (GI) tags. It includes 294 product catalogue listings sourced from 10 State and Central Handloom and Handicraft Emporiums.

The Regional Connectivity Scheme (RCS) - UDAN (Ude Desh ka Aam Nagrik) of India, implemented by the Ministry of Civil Aviation, was launched in 2016 to expand affordable air travel beyond major cities. The scheme has successfully operationalised 687 regional routes and 95 aerodromes.

It is implemented by the Airports Authority of India as its nodal implementing agency. The next phase of the scheme was implemented in 2016 over a span of 10 years from FY27 to FY36, with an outlay of ₹28,840 crore.

1 Finance Pvt Ltd, an advisory and wealth-tech firm, has received in-principle approval from the SEBI to set up an Asset Management Company (AMC). The firm is positioned to become the first AMC to operate under the Mutual Funds Lite (MF Lite) framework.

The Department of Financial Services (DFS) under the Ministry of Finance (MoF) has announced a nationwide Financial Inclusion (FI) Saturation Campaign.

The initiative is scheduled to run from October 21 to December 31, 2026, covering 2.70 lakh Gram Panchayats (GPs) and Urban Local Bodies (ULBs) to expand access to formal banking services, social security schemes, and financial literacy at the grassroots level.

AU Small Finance Bank (SFB), India’s largest Small Finance Bank, has partnered with Paytm to launch the ‘Paytm AU SFB Credit Card’, India’s first Family Lounge Access RuPay Credit Card, offering rewards on digital payments and complimentary airport lounge access for families.

RBI has issued the RBI (Commercial Banks - Prudential Norms on Capital Adequacy) Eleventh Amendment Directions, 2026. The new directions align the leverage ratio framework with the 2017 standard developed by the Basel Committee on Banking Supervision (BCBS) under the Basel III framework.

The revised framework will come into effect on April 1, 2027. Under the updated framework, the mandatory leverage ratio is set at 4% for Domestic Systemically Important Banks (D-SIBs), 3.5% plus an applicable leverage ratio buffer for branches of global systemically important banks (G-SIBs) in India, and 3.5% for all other banks.

The National Scheduled Tribes Finance and Development Corporation (NSTFDC) under the Ministry of Tribal Affairs has signed a tripartite MoU with the National Skill Development Corporation (NSDC) and the Steel Authority of India Ltd (SAIL) to promote livelihood generation, skill development, and entrepreneurship among Scheduled Tribe youth.

The Technology Development Board (TDB) has signed an agreement with Manastu Space Technologies Pvt Ltd to provide financial support of ₹116 crore under the Research Development and Innovation (RDI) Fund.

The project entails a total cost of ₹277.63 crore and focuses on developing a scalable, integrated green propulsion system for satellites and launch vehicles across the 5 mN to 300 N thrust class.

The Indian aviation startup VORAN Pvt Ltd has signed an MoU with Poland-based W&S Innovation, Aviation Artur Trendak to explore technology collaboration in gyroplane aviation, product development, and light aircraft manufacturing in India.

Union Minister Ashwini Vaishnaw has launched the “World Development Report (WDR) 2026: The Promise of AI” report of the World Bank Group at an event in New Delhi.

The event was organized by the IndiaAI Mission under the Ministry of Electronics and Information Technology (MeitY) in collaboration with the World Bank Group. The report recommends an “Adopt, Adapt and Advance” approach, prioritizing affordable AI solutions.

The 69th Commonwealth Parliamentary Conference (CPC) was held in Cape Town, South Africa, under the presidency of Refilwe Mtshweni-Tsipane, the Chairperson of the National Council of Provinces of South Africa.

The event was conducted under the theme “Strengthening International Law and Parliamentary Democracy in a Changing World Order: Commonwealth Leadership”. The Indian parliamentary delegation to the conference was led by Harivansh Narayan Singh, the Deputy Chairman of Rajya Sabha.

During the event, the Commonwealth Parliamentarian Awards were presented to various individuals. Ruth Forrest MLC received the Commonwealth Parliamentarian of the Year Award, Dr Angelo Farrugia won the Parliamentarian Lifetime Achievement Award, and Sugath Wasantha de Silva bagged the New Parliamentarian Award. It is to be noted that the Parliament of Canada will host the 70th CPC in 2027.

The Ministry of Home Affairs and the Indian Army have launched a joint training initiative to strengthen Civil Defence preparedness in India.

The first phase of the programme aims to train 600 Civil Defence Master Trainers from 12 States and Union Territories including Jammu & Kashmir, Punjab, Rajasthan, Gujarat, Assam, Meghalaya, Sikkim, Delhi, Uttar Pradesh, Kerala, Karnataka, and Tamil Nadu, with each region nominating 50 participants. The initiative adopts a structured Master Trainer Model, wherein each master trainer will subsequently instruct 100 Civil Defence Volunteers.

The Defence Acquisition Council, chaired by Union Minister Rajnath Singh, has accorded Acceptance of Necessity to capital acquisition proposals worth about ₹2.12 lakh crore for the Defence Forces.

Under this, the Indian Army will procure High Mobility Vehicles (HMV), the Indian Navy will get the Active Offboard Decoy System (AODS), while the Indian Air Force will procure Mobile X-Band Doppler Weather Radar Systems. Out of the total AoNs accorded, 82% of the procurements will be sourced from the Indian industry.

The Goa AI Tech Conclave 2026 was held in Panaji, Goa, under the theme “AI for People, Planet and Progress”. The conclave introduced the Goa AI Policy 2026, establishing a 3-year implementation framework (2026-2029) to position the state as a hub for responsible AI and applied innovation.

The Goa government signed an MoU with BITS Pilani to set up an AI Centre of Excellence. Additionally, the Digital India BHASHINI (Bhasha Interface for India) Division (DIBD) launched the BHASHINI Konkani Large Language Model (LLM) in collaboration with the Goa government.

VK Saxena, the Lieutenant Governor of Ladakh, has notified 100 constituencies for the Ladakh Autonomous Hill Development Councils (LAHDC), doubling the previous strength of 52 constituencies.

Under this new administrative structure, Leh will have the maximum number of constituencies, totaling 22.

Anup Bagchi has assumed office as the MD & CEO of HDFC Bank for a 3-year term ending on October 26, 2029.

He succeeds Sashidhar Jagdishan. With an annual package of ₹36 crore, he is designated as the highest-paid bank CEO in India.

The 70th annual Ballon d’Or ceremony was held at the London Palladium. Harry Kane of Bayern Munich and England won the Men’s Ballon d’Or, becoming the first English player to win the award in 25 years (since Michael Owen in 2001).

Alexia Putellas of Barcelona / London City and Spain was awarded the Women’s Ballon d’Or. The Kopa Trophy for young talent was won by Lamine Yamal (Men) and Vicky Lopez (Women). Unai Simon (Men) and Cata Coll (Women) received the Yashin Trophy for best goalkeeper, while Harry Kane (Men) and Charlyn Corral (Women) won the Gerd Müller Trophy as top scorers.

The Coach of the Year award was given to Luis de la Fuente (Men - Spain) and Pere Romeu (Women - Barcelona Femení). Paris Saint-Germain (Men) and FC Barcelona (Women) were named Club of the Year. Bukayo Saka of Arsenal and England received the Socrates Award for humanitarian work.

Pragyan Ojha has been appointed as the new Chairman of the Board of Control for Cricket in India (BCCI) Senior Men’s Selection Committee, succeeding Ajit Agarkar. The newly constituted selection committee also comprises Ramesh Powar, Shiv Sundar Das, RP Singh, and Ajay Ratra.

Smriti Mandhana has assumed the role of the new captain of the Indian women’s cricket team, succeeding Harmanpreet Kaur.