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Daily Current Affairs: 8 October 2026

Current affairs of 8 October 2026: GST Council 57th meeting: arrest powers removed, prosecution limit ₹5 crore; Repo-linked lending rates: PSU banks raise rates by 25 bps after RBI hike; RBI consumer confidence survey: CSI slips, inflation expectations at 10%, and 15 more topics. Key facts for every exam, with a quiz.

Take the quiz (15 questions)October 2026
18 TOPICSDaily CurrentAffairs8 October 2026In focus: GST Council 57th meeting: arrest powers…safalsetu.com

In this issue: 18 topics

National Affairs

  1. Supreme Court Directs Centre to Form Panel on Pharma Marketing Practices
  2. Election petition must be presented by petitioner personally: SC

Government Schemes

  1. National SC-ST Hub: Procurement from SC/ST MSEs Rises Nearly 39-Fold

Banking & Finance

  1. Repo-linked lending rates: PSU banks raise rates by 25 bps after RBI hike
  2. RBI consumer confidence survey: CSI slips, inflation expectations at 10%
  3. VRRR auction: RBI holds ₹2 lakh crore 29-day variable rate reverse repo
  4. Technical Consultative Committee for Financial Markets set up by RBI

Economy

  1. GST Council 57th meeting: arrest powers removed, prosecution limit ₹5 crore
  2. USD 1 Trillion Exports: Goyal Confident of Target in Current Fiscal

International Affairs

  1. East Asia Summit Energy Ministers’ Meeting: India at 20th edition, Manila
  2. Akie Abe meets PM Modi; Abe Memorial Corridor opens in Varanasi

Agriculture & Rural

  1. IIAB Ranchi NextGen Breeding Centre opened; ample urea, DAP for rabi

Science & Technology

  1. Space economy at USD 9 billion, may hit USD 45-46 billion: Jitendra Singh

Environment & Ecology

  1. Nameri Tiger Reserve in Assam gets CA|TS Approved status

Defence & Security

  1. Air Force Day 2026: IAF marks 94th anniversary at Hindon, Ghaziabad

Reports & Indexes

  1. World Development Report 2026 on AI Launched in India by World Bank

Awards & Persons

  1. Anne Carson wins 2026 Nobel Prize in Literature
  2. Nana Patekar, veteran actor, dies at 75 in Goa

National Affairs

Polity & Governance

1. Supreme Court Directs Centre to Form Panel on Pharma Marketing Practices

  • On 8 October 2026, a Supreme Court bench of Justices Vikram Nath and Sandeep Mehta directed the Centre to form a three-member committee.
  • The panel will examine whether pharmaceutical marketing practices, including gifts and benefits to doctors, need statutory regulation.
  • The court noted doctors accepting benefits can be acted against, but no matching statutory mechanism covers companies offering them.
  • The Centre must file a compliance affidavit; the matter is next listed on 29 January.
Full notes and 3 MCQs ›
Polity & Governance

2. Election petition must be presented by petitioner personally: SC

  • On 7 October 2026 the Supreme Court held an election petition must be presented by the petitioner, not by counsel.
  • Bench: Justice Prashant Kumar Mishra (author) and Justice Shree Chandrashekhar.
  • It upheld the Madras High Court's dismissal of a petition against DMK MLA S. Regupathy (Thirumayam).
  • Section 86(1) of the RP Act, 1951 requires dismissal of a petition that violates Section 81.
  • The 1966 amendment removed presentation by an authorised person or registered post.
Full notes and 3 MCQs ›

Government Schemes

Economy

3. National SC-ST Hub: Procurement from SC/ST MSEs Rises Nearly 39-Fold

  • National SC-ST Hub (NSSH) was launched on 18 October 2016 by the Ministry of MSME and is implemented by NSIC.
  • Procurement from SC/ST-owned MSEs rose nearly 39-fold, from ₹99.37 crore (2015-16) to ₹4,013.42 crore (2025-26).
  • As of 31 July 2026, NSSH had assisted 1,90,414 beneficiaries and trained 54,499 candidates.
  • Public Procurement Policy: 25% of annual purchases from MSEs, with 4% earmarked for SC/ST-owned MSEs.
  • SCLCSS gives a 25% capital subsidy capped at ₹25 lakh; 3,160 MSEs received ₹356.10 crore up to March 2026.
Full notes and 3 MCQs ›

Banking & Finance

Economy

4. Repo-linked lending rates: PSU banks raise rates by 25 bps after RBI hike

  • RBI raised the repo rate by 25 bps to 5.50% on 7 October 2026 and shifted its stance to calibrated tightening.
  • PNB, Indian Overseas Bank and Bank of India raised their repo-linked lending rates from 8.10% to 8.35%.
  • Indian Bank's repo-linked rate rose from 7.95% to 8.20%, effective 8 October 2026.
  • Bank of Baroda's repo-based lending rate is now 8.15%, a spread of 2.65 percentage points over repo.
  • UCO Float moved from 8.05% to 8.30% and UCO Prime from 5.25% to 5.50%.
Full notes and 3 MCQs ›
Banking & Finance

5. RBI consumer confidence survey: CSI slips, inflation expectations at 10%

  • RBI released its forward-looking surveys on 7 October 2026, alongside the monetary policy.
  • Urban Current Situation Index fell to 87.9 in September from 88.3 in July; Future Expectations Index fell to 113.5 from 115.3.
  • Households' median current inflation perception rose to 8.4%; one-year-ahead expectation reached 10%.
  • Rural CSI fell to 90.6 from 91.7, its sixth straight decline; rural FEI was 112.8.
  • The urban survey covered 6,054 respondents in 19 major cities.
Full notes and 3 MCQs ›
Banking & Finance

7. Technical Consultative Committee for Financial Markets set up by RBI

  • RBI announced a Technical Consultative Committee for Financial Markets in its Statement on Developmental and Regulatory Policies dated 7 October 2026.
  • It will serve as a forum for structured engagement with market participants and stakeholders.
  • Scope covers money, government securities and foreign exchange markets, their derivatives and market infrastructure.
  • Its composition and terms of reference will be notified separately.
Full notes and 3 MCQs ›

Economy

Polity & Governance

8. GST Council 57th meeting: arrest powers removed, prosecution limit ₹5 crore

  • The 57th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman, was held in New Delhi on 8 October 2026.
  • No GST rates were changed; rate changes will now be taken up only once a year, effective from 1 April.
  • Arrest powers of GST officers removed; prosecution threshold raised from ₹1 crore to ₹5 crore.
  • General penalty cut from ₹25,000 to ₹10,000; no notices for amounts below ₹10,000.
  • Process reforms are targeted for implementation from 1 April 2027.
Full notes and 3 MCQs ›
Economy

9. USD 1 Trillion Exports: Goyal Confident of Target in Current Fiscal

  • Commerce Minister Piyush Goyal expects India's goods and services exports to touch USD 1 trillion in the current fiscal.
  • India's exports reached a record USD 863 billion in 2025-26.
  • India has finalised 9 free trade agreements (FTAs), creating openings for agri and marine exports.
  • Goyal suggested CII set up FTA utilisation cells in states.
  • Remarks came at the curtain-raiser of the CII Partnership Summit, Visakhapatnam, 12-13 November.
Full notes and 3 MCQs ›

International Affairs

Environment & Ecology

10. East Asia Summit Energy Ministers’ Meeting: India at 20th edition, Manila

  • The 20th East Asia Summit Energy Ministers' Meeting was held in Manila, Philippines, on 8 October 2026.
  • MoS for New and Renewable Energy Shripad Yesso Naik represented India.
  • India's installed capacity was 558.8 GW on 30 September 2026; non-fossil sources made up 308 GW (about 55%).
  • PM Surya Ghar: about 5.01 million rooftop solar installations benefiting 5.95 million households (29 September 2026).
  • India offered at the 22nd ASEAN-India Summit (2025) to train 400 professionals on grid connectivity.
Full notes and 3 MCQs ›

Agriculture & Rural

Agriculture & Rural Development

12. IIAB Ranchi NextGen Breeding Centre opened; ample urea, DAP for rabi

  • On 8 October 2026 Shivraj Singh Chouhan virtually inaugurated a NextGen Breeding Centre at IIAB, Gadhkhatanga, Ranchi, Jharkhand.
  • Inaugurations and foundation stones covered projects worth ₹119 crore.
  • Speed breeding gives plants up to 16 hours of light daily; rice maturity falls from 120 days to about 50.
  • Chouhan said the government has ample urea and DAP stock for the rabi season.
  • ICAR DG Dr M.L. Jat urged Jharkhand farmers to grow pulses and oilseeds on fallow land.
Full notes and 3 MCQs ›

Science & Technology

Economy

13. Space economy at USD 9 billion, may hit USD 45-46 billion: Jitendra Singh

  • India's space economy is about USD 9 billion now, said Dr Jitendra Singh on 8 October 2026.
  • It could grow to USD 45-46 billion within 8-10 years if the current momentum holds.
  • Opening space to private firms such as Skyroot has helped curb brain drain, the Minister said.
  • Gross Expenditure on R&D rose from about Rs 46,000-47,000 crore (2013-14) to about Rs 2-2.5 lakh crore.
  • India targets 100 GW of nuclear power capacity by 2047, with the sector open to private players.
Full notes and 3 MCQs ›

Environment & Ecology

Defence & Security

Defence & Security

15. Air Force Day 2026: IAF marks 94th anniversary at Hindon, Ghaziabad

  • Air Force Day on 8 October 2026 marked the 94th anniversary of the IAF, established on 8 October 1932.
  • Theme: 'Indian Air Force – Infallible, Impervious and Precise'.
  • Air Chief Marshal A.P. Singh inspected the parade at Hindon Air Base, Ghaziabad, Uttar Pradesh.
  • The Air Chief said Operation Sindoor showed the IAF's ability for swift and effective action.
  • PM Modi said India is proud of its Air Warriors.
Full notes and 3 MCQs ›

Reports & Indexes

Science & Technology

16. World Development Report 2026 on AI Launched in India by World Bank

  • World Development Report 2026 is titled 'The Promise of Artificial Intelligence' and is published by the World Bank Group.
  • India launch held on 8 October 2026 at The Oberoi, New Delhi, organised by IndiaAI Mission, MeitY with the World Bank Group.
  • Report framework: countries should adopt, adapt and then advance AI, being optimistic, strategic and pragmatic.
  • Only one of the world's 25 low-income countries has published a national AI strategy.
  • Vaishnaw cited a 40% sugarcane yield rise in Baramati and a 35% rise in TB detection using AI.
Full notes and 3 MCQs ›

Awards & Persons

Awards & Persons

17. Anne Carson wins 2026 Nobel Prize in Literature

  • Canadian poet Anne Carson won the 2026 Nobel Prize in Literature, announced by the Swedish Academy on 8 October 2026.
  • She was honoured for a bold, inventive oeuvre that created new forms in playful dialogue with the classical tradition.
  • Carson, 76, was born in Toronto and has taught classics in Canada and the US.
  • The prize carries 12 million Swedish kronor (about USD 1.2 million); the 2025 winner was Laszlo Krasznahorkai.
Full notes and 3 MCQs ›

Test yourself

15 questions from the news of 8 October 2026, with answers and explanations.

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