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Daily Current Affairs: 7 October 2026

Current affairs of 7 October 2026: RBI repo rate hiked 25 bps to 5.50%; stance now calibrated tightening; Account Aggregator interoperability: RBI eases access to financial data; Paytm Payments Bank removed from RBI Act Second Schedule, and 15 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)October 2026
18 TOPICSDaily CurrentAffairs7 October 2026In focus: RBI repo rate hiked 25 bps to 5.50%;…safalsetu.com

In this issue: 18 topics

National Affairs

  1. Narendra Modi completes 25 years as Head of Government
  2. NCAHP notifies regulations on autonomous boards and registration

Government Schemes

  1. NCSC push: banks to report SC beneficiaries under Mudra, PMEGP
  2. JOSH teams for TB elimination: Joint Squad for Health launch on 8 October

Banking & Finance

  1. RBI repo rate hiked 25 bps to 5.50%; stance now calibrated tightening
  2. Account Aggregator interoperability: RBI eases access to financial data
  3. Paytm Payments Bank removed from RBI Act Second Schedule
  4. RBI final CVA Framework Directions for banks, effective 1 April 2027
  5. India-UK Financial Markets Dialogue: 4th edition held in London

Economy

  1. India-EFTA TEPA: Commerce Secretary urges exporters to use the pact

International Affairs

  1. India-Ghana MoU: ICAR, CSIR-CRI sign farm research pact during EAM visit
  2. Sagarmanthan 2026: 3rd Great Oceans Dialogue opens in New Delhi

Agriculture & Rural

  1. Onion prices ease as kharif acreage rises about 5%: Govt
  2. World Cotton Day 2026: theme and Tashkent global event

Science & Technology

  1. India Mobile Congress 2026: 10th edition opens; PM meets GSMA Board

Environment & Ecology

  1. Pre-COP31 in Fiji: India calls for faster Paris Agreement implementation

Defence & Security

  1. SAREX-2026 inaugurated off Paradip by Coast Guard; NMSAR Board meets

Awards & Persons

  1. Chemistry Nobel 2026: Henri Kagan and Kenso Soai honoured

National Affairs

Polity & Governance

2. NCAHP notifies regulations on autonomous boards and registration

  • National Commission for Allied and Healthcare Professions (NCAHP) works under the NCAHP Act, 2021.
  • Each Autonomous Board will have 10 to 20 members including a President.
  • Central Assessment Committee (10-30 members) will act where functional State Councils do not exist.
  • Registration is digital with a Unique Identification number and QR-coded certificate, valid for five years.
  • Two-year D.MRIT curriculum becomes mandatory from academic year 2027-28.
Full notes and 3 MCQs ›

Government Schemes

Banking & Finance

3. NCSC push: banks to report SC beneficiaries under Mudra, PMEGP

  • DFS directed SLBC/UTLBC convenors on 5 October 2026 to report Scheduled Caste beneficiaries scheme-wise and bank-wise.
  • Schemes covered: PM Mudra Yojana, Stand-Up India, PMEGP, PM SVANidhi, CGTMSE and MSME business loans.
  • NCSC Secretary Vivek Kumar Dewangan had written to the DFS Secretary on 24 September 2026.
  • Action-taken reports are due by 9 October 2026, with updates every 30 days.
  • NCSC relied on Article 338(5)(c) to evaluate the socio-economic progress of Scheduled Castes.
Full notes and 3 MCQs ›

Banking & Finance

Banking & Finance

6. Account Aggregator interoperability: RBI eases access to financial data

  • RBI on 7 October 2026 allowed interoperability among NBFC Account Aggregators (NBFC-AAs).
  • A user onboarded on any one AA can aggregate financial information through all AAs.
  • SEBI-regulated depositories will show bank deposit details in the Consolidated Account Statement (CAS) via NBFC-AAs.
  • Deadline for implementing both measures is 31 December 2026.
  • RBI will set up a Technical Consultative Committee for Financial Markets; composition to be notified later.
Full notes and 3 MCQs ›
Banking & Finance

7. Paytm Payments Bank removed from RBI Act Second Schedule

  • Paytm Payments Bank Limited has been excluded from the Second Schedule to the Reserve Bank of India Act, 1934.
  • Notification DoR.LIC.No.S3674/16.13.215/2026-27 is dated 31 July 2026.
  • It appeared in the Gazette of India (Part III - Section 4) on 7 September 2026.
  • RBI announced it through press release 2026-2027/1273 on 7 October 2026.
  • RBI had cancelled the bank's licence under Section 22(4) of the Banking Regulation Act, 1949 on 24 April 2026.
Full notes and 3 MCQs ›
Banking & Finance

8. RBI final CVA Framework Directions for banks, effective 1 April 2027

  • RBI released the Commercial Banks – Credit Valuation Adjustment Framework Directions, 2026 on 7 October 2026.
  • The final Directions will take effect from 1 April 2027.
  • Draft directions came on 7 August 2026, with public comments invited till 28 August 2026.
  • The revised Basic Approach (BA-CVA) treats systematic and idiosyncratic CVA risk separately.
  • The framework updates RBI's 2011 CVA rules to match revised Basel III standards of the BCBS.
Full notes and 3 MCQs ›

Economy

Economy

10. India-EFTA TEPA: Commerce Secretary urges exporters to use the pact

  • Outreach event for exporters ahead of the 2nd India-EFTA Prosperity Summit 2026 was held in New Delhi on 7 October 2026.
  • EFTA members: Iceland, Liechtenstein, Norway and Switzerland; TEPA entered into force on 1 October 2025.
  • EFTA offers 92.2% of tariff lines, covering 99.6% of India's exports.
  • India offers 82.7% of tariff lines, covering 95.3% of EFTA exports.
  • EFTA committed $50 billion FDI in 10 years plus $50 billion in the next 5 years; 1 million jobs in 15 years.
Full notes and 3 MCQs ›

International Affairs

Agriculture & Rural Development

11. India-Ghana MoU: ICAR, CSIR-CRI sign farm research pact during EAM visit

  • EAM S. Jaishankar began a five-day visit to Ghana, Cote d'Ivoire and Ethiopia, with Ghana as the first stop.
  • He met Ghana's Foreign Minister Samuel Okudzeto Ablakwa in Accra.
  • ICAR and CSIR-Crops Research Institute, Ghana signed a five-year MoU on 7 October 2026.
  • Focus: tomato research, cassava and yam processing, value chains and post-harvest management.
  • A Joint Working Group will meet alternately in New Delhi and Accra; Arima Farms Ltd. is the commercial partner.
Full notes and 3 MCQs ›

Agriculture & Rural

Economy

13. Onion prices ease as kharif acreage rises about 5%: Govt

  • Kharif onion acreage is about 5% higher than last year, says the Consumer Affairs Ministry.
  • Maharashtra mandi prices fell about 13%, from ₹4,030/quintal (16 Sept) to ₹3,475/quintal (3 Oct 2026).
  • Over 2 lakh quintals of buffer onion moved via 8 Kanda Express trains and 467 trucks to 123 cities.
  • Retail onion prices fell by ₹1-21 per kg in 126 cities over two weeks.
Full notes and 3 MCQs ›

Science & Technology

Science & Technology

15. India Mobile Congress 2026: 10th edition opens; PM meets GSMA Board

  • The 10th India Mobile Congress is held from 7 to 10 October 2026 at Yashobhoomi, New Delhi.
  • It is organised by DoT and the Cellular Operators Association of India (COAI).
  • The theme is 'Scale Without Boundaries'; PM Modi inaugurates it on 8 October.
  • Over 1.5 lakh attendees from 100+ countries, 500+ exhibitors and 600+ start-ups are expected.
  • On 7 October, PM Modi urged GSMA Board members to back DPI, affordable access and deepfake identification.
Full notes and 3 MCQs ›

Environment & Ecology

Defence & Security

Defence & Security

17. SAREX-2026 inaugurated off Paradip by Coast Guard; NMSAR Board meets

  • Raksha Rajya Mantri Sanjay Seth inaugurated SAREX-2026 on 7 October 2026; sea exercise off Paradip on 8 October.
  • 32 delegates from 30 foreign countries took part as observers.
  • 24th National Maritime Search and Rescue Board meeting was chaired by Coast Guard DG Paramesh Sivamani.
  • Indian Search and Rescue Region (ISRR) spans 4.6 million sq km.
  • India's MEOLUT achieved full operational capability for MEOSAR.
Full notes and 3 MCQs ›

Awards & Persons

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