The CCEA approves record Rabi MSPs and a Rs. 1,789 crore intelligent traffic system for Delhi, the government trims windfall tax on diesel and ATF exports, the Indian and ASEAN navies open AIME-2026 at Subic Bay, Morocco gets its first woman Prime Minister, and India chase Pakistan in a tense Asian Games cricket final in Nisshin. Here is the news that matters for competitive exams today.
India – National Affairs
CCEA approves MSP hike for all Rabi crops for the 2027–28 season
The Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister Narendra Modi, approved higher Minimum Support Prices (MSPs) for all mandated Rabi crops for the 2027–28 marketing season, carrying a profit margin of 50% to 106% over the all-India weighted average cost of production – in line with the Budget 2018–19 commitment to fix MSPs at least 1.5 times the cost of production.
Key numbers
- Highest absolute increase: safflower, up Rs. 675 to Rs. 7,215 per quintal; followed by rapeseed & mustard (up Rs. 413 to Rs. 6,613) and lentil/masur (up Rs. 390 to Rs. 7,390).
- Wheat MSP: up Rs. 25 to Rs. 2,610 per quintal; barley MSP: up Rs. 136 to Rs. 2,286 per quintal.
- Separately, Union Minister Shivraj Singh Chouhan approved MSP procurement of pulses and oilseeds worth Rs. 5,547.99 crore under the Price Support Scheme for Kharif Marketing Season 2026–27, covering about 7.06 lakh tonnes across Uttar Pradesh, Karnataka and Telangana.
CCEA clears Delhi's Rs. 1,789 crore Intelligent Traffic Management System and the GEC-III scheme
The CCEA approved implementation of the Intelligent Traffic Management System (ITMS) by Delhi Police at an estimated cost of Rs. 1,789.52 crore, to be rolled out across 42 identified traffic corridors in three phases over 24 months, followed by five years of operation and maintenance.
The Union Cabinet also approved the Green Energy Corridor Phase-III (GEC-III) scheme to strengthen India's Intra-state Transmission System (InSTS), enabling evacuation of up to 135 GW of renewable energy across States/UTs.
MoHUA launches PRAGATI-50 to develop 50 clean role-model cities under SBM-U 2.0
Union Minister Manohar Lal Khattar, Ministry of Housing and Urban Affairs, launched PRAGATI-50, aimed at developing 50 cities across 24 States as sanitation role models under Swachh Bharat Mission-Urban 2.0.
- A digital review mechanism, PRAGATI (Pro-Active Governance and Timely Implementation), has been set up on the Swachhatam Portal for monitoring.
- A Swachh Bharat Test Bed & Innovation Centre will be established at Durgapur, West Bengal, with CSIR-CMERI.
- The third cohort of sanitation and waste-management startups was launched with the Startup Incubation and Innovation Centre, IIT Kanpur.
Bhupender Yadav launches NCM 2.0 guidelines to strengthen coastal resilience and Blue Economy
Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change, launched implementation guidelines for National Coastal Mission 2.0 (NCM 2.0), a Central Sector Scheme to strengthen conservation and sustainable management of India's coastal and marine ecosystems.
- NCM 1.0 ran 2021–22 to 2025–26 with an outlay of Rs. 87 crore; NCM 2.0 carries a total outlay of Rs. 767 crore, running till 2030–31.
- Coverage: 9 coastal States (Gujarat, Maharashtra, Goa, Karnataka, Kerala, Tamil Nadu, Andhra Pradesh, Odisha, West Bengal) and 4 UTs.
- Five thematic categories: climate-resilient blue economic growth; coastal vulnerability and risk reduction; climate-change adaptation with mitigation co-benefits; capacity building and outreach; committed liabilities and project management.
Kolkata to host 5th edition of India Energy Week in January 2027
Union Minister Hardeep Singh Puri, Ministry of Petroleum and Natural Gas, with West Bengal CM Suvendu Adhikari, announced Kolkata as host city for India Energy Week (IEW) 2027, to be held 28–31 January 2027 at the New Town Convention Centre, on the theme "Unlocking Innovation. Securing Energy. Shaping Tomorrow."
- IEW debuted in Bengaluru (2023); the 4th edition was held in Goa (2026).
- Expected to attract 75,000+ energy professionals and 700+ international exhibitors – the first major global energy conclave of 2027, and the first-ever IEW hosting in eastern India.
Govt trims windfall tax on diesel and ATF exports; petrol duty unchanged
The Ministry of Finance revised the windfall tax on exports of diesel and Aviation Turbine Fuel (ATF), effective from 1 October 2026: diesel export duty cut from Rs. 20 to Rs. 16 per litre and ATF duty from Rs. 15 to Rs. 10.5 per litre, while the petrol export duty stayed at Rs. 0.5 per litre for the next fortnight.
The levies were reintroduced on diesel and ATF from 27 March 2026 amid the West Asia crisis, later extended to petrol from 16 May 2026, to discourage excessive exports and ensure domestic fuel availability.
Zuppa signs MoU with TNUAVC for Army drone-pilot training programme
Zuppa Geo Navigation Technologies signed an MoU with the Tamil Nadu Unmanned Aerial Vehicle Corporation (TNUAVC) to set up indigenous drone-training labs at Army Regimental Centres and a structured UAV pilot training programme for Agniveers and defence personnel, starting October 2026 at the Madras Regimental Centre, Wellington, Coonoor.
- A 4-week programme covering flight simulation, rotorcraft/hybrid drone operations, aerodynamics, maintenance and DGCA regulations.
- Target: train and certify over 2,000 Agniveers and defence personnel over 3 years, leading to a DGCA-approved Small Category Remote Pilot Certificate.
MoTA and IGNCA sign MoU to preserve India's tribal cultural heritage
The Ministry of Tribal Affairs and the Indira Gandhi National Centre for the Arts (IGNCA) signed an MoU to preserve, document, digitise and promote India's tribal cultural heritage through Tribal Research Institutes, covering languages, art, folklore and freedom-struggle contributions.
Daily Current Affairs 3 October 2026 - Download Free PDF Here
Economy & Banking
MoF keeps Small Savings Scheme rates unchanged for 14th straight quarter
The Department of Economic Affairs announced that Small Savings Scheme (SSS) interest rates for Q3 FY27 (October–December 2026) remain unchanged from Q2 FY27 – the 14th consecutive quarter without revision, with rates last changed in Q4 FY24. SSS instruments are managed by the DEA and administered through post offices and designated banks.
HSBC report: 74% of Indian entrepreneurs eye overseas residency; AI adoption surges
The HSBC Global Entrepreneurial Wealth Report 2026 found Indian entrepreneurs increasingly global in outlook, with rapid AI adoption reshaping business strategy.
- 74% plan to relocate or secure overseas residency – Singapore the top destination (14%), followed by France, the UK and the US (11% each).
- 99% are adopting or planning to adopt AI; 65% already implementing changes; 54% plan to invest 11–30% of turnover in AI.
- Key concerns: data privacy/security (44%), employee resistance (38%), legacy-system integration (35%).
Kotak Mahindra Bank, South Indian Bank and NIACL get new chiefs
- Kotak Mahindra Bank: RBI approved Anup Kumar Saha as the next MD & CEO, taking charge from 1 January 2027 for a 3-year term, succeeding Ashok Vaswani.
- South Indian Bank: Mahesh Muralidhar Pai took charge as MD & CEO from 1 October 2026 for a 3-year term, succeeding P R Seshadri.
- New India Assurance (NIACL): Lavanya R Mundayur appointed Chairman-cum-Managing Director by the DFS, Ministry of Finance, serving till superannuation on 31 May 2029.
Jio Financial Services and Allianz Europe infuse Rs. 640.10 crore into insurance JV
Jio Financial Services and Allianz Europe B.V. each invested Rs. 320.05 crore (total Rs. 640.10 crore) via a rights issue into their 50:50 JV Jio Allianz General Insurance Limited, incorporated 12 May 2026, to support expansion of general-insurance operations.
CCI approves BNP Paribas Cardif's stake buy in IndiaFirst Life Insurance
The Competition Commission of India approved BNP Paribas Cardif's acquisition of a 26% stake in IndiaFirst Life Insurance from Warburg Pincus. Post-transaction, shareholding will be Bank of Baroda 65%, BNP Paribas Cardif 26%, Union Bank of India 9%.
New insurance products launched
- ICICI Lombard launched 'VIBE', a Gen Z-focused health insurance plan (ages 18–35) with six variants, sum insured Rs. 7 lakh to Rs. 1 crore, and wellness-linked rewards.
- Pramerica Life Insurance launched 'Poorna Rakshak', a savings-linked life insurance plan with five variants – Smart Scholars, Early Income, Income Booster, Smart Money Back and Smart Saver.
Tata Projects and MDS Aero Support Corporation to build aero-engine testing infrastructure
Tata Projects signed an MoU with Canada's MDS Aero Support Corporation to develop advanced aero-engine testing infrastructure in India, combining Tata Projects' EPC expertise with MDS Aero's gas-turbine testing capabilities – strengthening India's aerospace and propulsion ecosystem.
Science & Technology
Follow-through: forest certification, orbital data centres and India's space push
- India's new PRAMAAN forest certification scheme (first certificate issued to Andhra Pradesh) continues to be a key exam topic this week.
- TakeMe2Space's planned networked orbital data centre, and ISRO's extended cooperation agreement with the European Space Agency to 2032, remain significant recent space-sector developments.
Defence & Security
Indian and ASEAN navies open 2nd ASEAN-India Maritime Exercise (AIME-2026) at Subic Bay, Philippines
The 2nd edition of the ASEAN-India Maritime Exercise (AIME-2026) commenced at Subic Bay, Zambales Province, Philippines, under the theme "Anchored in Trust, United at Sea," with the Indian Navy and ASEAN member-state navies.
Key details
- Debut: the 1st AIME was held in Singapore in 2023.
- Indian Navy assets: INS Sahyadri (Shivalik-class stealth frigate) and INS Kulish (Kora-class corvette).
- Opening ceremony addressed by Harsh Kumar Jain, Ambassador of India to the Philippines, as Guest of Honour.
- Structure: a Harbour Phase (expert exchanges, cultural and community engagement, pre-sail brief) followed by a Sea Phase (coordinated maritime drills).
Zuppa-TNUAVC drone training programme strengthens indigenous UAV capability
Beyond its training value, the new Zuppa-TNUAVC programme for Agniveers at the Madras Regimental Centre reinforces India's push toward indigenous drone-pilot capacity and Counter-UAS readiness within the armed forces.
Recap: KAZIND-2026 and Tarang Shakti 2026
The 9th India-Kazakhstan exercise KAZIND-2026 continues at Oskemen until 11 October, and the IAF's multinational air exercise Tarang Shakti 2026 continues at Jodhpur until 12 October, with 40 participating countries.
Sports
Asian Games 2026: India chase Pakistan in a tense men's cricket gold-medal final
India and Pakistan met in the men's cricket gold-medal match at Kōrogi Sports Park, Nisshin, on the penultimate day of the 2026 Asian Games. India won the toss and elected to bat first, with Abhishek Sharma smashing a rapid fifty (61 off 28 balls, 3 fours, 7 sixes) to put India at 81/2 at the powerplay and 114/3 at the halfway stage, before Pakistan's bowlers pulled things back in the closing overs. As of the latest update, India were pushing toward a competitive total with the match still in progress; both teams had earlier advanced to the final as higher-seeded sides after their respective quarter-finals were washed out.
Note: this match was still live as this article was being compiled; the final result will be confirmed once play concludes.
India's women's cricket team: gold and bronze recap
In the women's cricket competition (17–22 September), India won gold, going unbeaten through the tournament, while Pakistan won bronze. India's win over Sri Lanka in the final, built on a 216/3 total, remains the country's standout team performance of these Games.
Asian Games 2026 enters its final stretch
With the Games concluding on 4 October 2026, India's contingent continued competing across cricket, hockey, athletics, shooting and other disciplines in the closing days at Aichi-Nagoya, Japan, building on a medal tally that had crossed 63 medals (10 gold, 22 silver, 31 bronze) earlier in the week.
Important Days
27 September – World Rivers Day (recap)
Observed on the 4th Sunday of September each year; 2026 marked its 21st anniversary. Proposed by Canadian river conservationist Mark Angelo and officially proclaimed by the UN on 29 June 2005, linked to the UN's "Water for Life (2005–2015)" decade.
28 September – World Rabies Day (recap)
20th observance in 2026, theme "Stronger Together." Established in 2007 by the Global Alliance for Rabies Control with WHO support; marks the death anniversary of Louis Pasteur, developer of the first rabies vaccine.
29 September – World Heart Day (recap)
26th anniversary in 2026, theme "Don't Miss a Beat." Proposed in 1999 by Antoni Bayés de Luna, then President of the World Heart Federation, with WHO; first observed in 2000.
30 September – International Translation Day (recap)
2026 theme: "Linguistic Diversity and Language Rights." First celebrated in 1991 by the International Federation of Translators; designated by the UN General Assembly via Resolution A/RES/71/288 on 24 May 2017, coinciding with the feast day of St. Jerome, patron saint of translators.
2 October – Gandhi Jayanti and Lal Bahadur Shastri Jayanti (recap)
A national holiday marking the birth anniversaries of Mahatma Gandhi (1869) and former Prime Minister Lal Bahadur Shastri (1904); also observed internationally as the International Day of Non-Violence.
Quick Revision – One-Liners
- Rabi MSP hike for 2027–28 – approved by CCEA; profit margin 50–106% over cost of production; highest absolute hike for safflower.
- Wheat MSP (2027–28) – Rs. 2,610/quintal; barley – Rs. 2,286/quintal.
- Delhi's new traffic system – ITMS, Rs. 1,789.52 crore, 42 corridors; approved alongside GEC-III (135 GW renewable evacuation capacity).
- PRAGATI-50 – 50 role-model cities under SBM-U 2.0; monitored via the Swachhatam Portal.
- NCM 2.0 outlay and period – Rs. 767 crore, till 2030–31; covers 9 coastal States + 4 UTs.
- India Energy Week 2027 host – Kolkata, 28–31 January 2027; 5th edition; first in eastern India.
- Windfall tax cut (effective 1 Oct 2026) – diesel duty Rs. 20→Rs. 16/litre; ATF duty Rs. 15→Rs. 10.5/litre; petrol unchanged at Rs. 0.5/litre.
- SSS rates unchanged for – 14th consecutive quarter (Q3 FY27); last revised Q4 FY24.
- New Kotak Mahindra Bank MD & CEO – Anup Kumar Saha (from 1 January 2027).
- New South Indian Bank MD & CEO – Mahesh Muralidhar Pai (from 1 October 2026).
- AIME-2026 venue and theme – Subic Bay, Philippines; "Anchored in Trust, United at Sea"; 2nd edition (1st was Singapore, 2023).
- Indian Navy ships at AIME-2026 – INS Sahyadri and INS Kulish.
- Morocco's first woman Prime Minister – Fatima Ezzahra El Mansouri (PAM party), appointed by King Mohammed VI.
- Asian Games 2026 men's cricket gold-medal final – India vs Pakistan, at Kōrogi Sports Park, Nisshin (3 October); women's gold – India, bronze – Pakistan.
- Asian Games 2026 concludes – 4 October 2026.
- World Rabies Day 2026 theme – "Stronger Together"; World Heart Day 2026 theme – "Don't Miss a Beat."
