India signs off from the Asian Games with a golden sweep in cricket, hockey and kabaddi and its second-highest medal haul ever, the Finance Ministry projects 7.3% GDP growth for Q2 FY27, the Power Ministry notifies tighter CAFE-III fuel economy norms, HDFC Bank names its first external MD & CEO, and Rajnath Singh unveils major digital reforms at the Defence Accounts Department's 279th Annual Day. Here is the news that matters for competitive exams today, World Teachers' Day.
India – National Affairs
MoC&I and MoT extend RoDTEP and RoSCTL export schemes till 31 December 2026
The Department of Commerce under the Ministry of Commerce and Industry, and the Ministry of Textiles, extended the RoDTEP (Remission of Duties and Taxes on Exported Products) and RoSCTL (Rebate of State and Central Taxes and Levies) schemes till 31 December 2026, amid geopolitical disruptions in West Asia.
- RoDTEP: extended from 30 September 2026, with existing rates and value caps retained, to refund embedded Central, State and local duties/taxes and improve export competitiveness.
- RoSCTL: extended from 1 October to 31 December 2026 for apparel, garments and made-ups, reimbursing embedded taxes not covered elsewhere to support the labour-intensive textile sector.
MoP notifies CAFE-III norms, targeting about 17% improvement in car fuel efficiency by 2032
The Ministry of Power notified Corporate Average Fuel Economy (CAFE)-III norms for passenger vehicles (M1 category), applicable for five years, from 1 April 2027 to 31 March 2032.
Key details
- Fuel-consumption target: tightened progressively from 3.996 litres/100 km (2027–28) to 3.3273 litres/100 km (2031–32) – an improvement of nearly 16.7% over five years.
- Reference vehicle weight raised from 1,082 kg to 1,229 kg.
- Super credits for EVs/range-extended vehicles (3x), plug-in hybrids (2.5x) and strong hybrids (1.6x).
- Carbon Neutrality Factors introduced: 8% reduction for E20+ ethanol-blended petrol vehicles, 22.3% for flex-fuel ethanol vehicles, 5% for CNG/CBG vehicles.
- Recognised fuel-conservation technologies expanded from 4 to 12, including start-stop systems, tyre pressure monitoring and regenerative braking.
Rajnath Singh launches digital and financial initiatives at DAD's 279th Annual Day
On 1 October 2026, Defence Minister Rajnath Singh launched three major initiatives at the 279th Annual Day of the Defence Accounts Department (DAD), held at DRDO Bhawan, New Delhi.
- SAKSHAM (DAD's bill audit and payment system) integrated with the Indian Army Financial Information System (IAFIS) for paperless, real-time budget and bill processing.
- Treasury Single Account (TSA) system operationalised via the PRISM platform, integrated with RBI's eKUBER, enabling Just-In-Time fund release.
- A revamped National Compilation System (NCS) for unified accounting and compilation of defence expenditure.
DoPs launches New Discovery Track under PRIP scheme with Rs. 50 crore funding support
The Department of Pharmaceuticals launched a New Discovery Track under the Promotion of Research and Innovation in Pharma and MedTech (PRIP) Scheme, supporting startups and MSMEs with up to Rs. 50 crore per project for early-stage drug discovery.
- Requires mandatory 25% co-funding; moves projects from TRL 1–3 to TRL 6.
- Covers New Chemical/Biological Entities, complex generics/biosimilars and novel medical devices; Early Stage funding up to Rs. 5 crore, Later Stage up to Rs. 100 crore.
- Under the first call, 41 projects were approved with Rs. 1,600 crore funding.
- PRIP was launched on 17 August 2023 with a total outlay of Rs. 5,000 crore.
CAG launches 'CAG-BHASHINI Anuvaad' for AI-based translation of audit documents
The Digital India BHASHINI Division, with the Office of the Comptroller and Auditor General of India, launched 'CAG-BHASHINI Anuvaad', an AI-based translation tool for official documents and audit reports, during the closing ceremony of the 74th Hindi Diwas and Hindi Pakhwada 2026.
DBN signs Rs. 10,520 crore agreement for Amended BharatNet Programme in Maharashtra
Digital Bharat Nidhi (DBN), under the Department of Telecommunications, signed an agreement with the Government of Maharashtra, MahaNet Digital Infrastructure Limited, BSNL and MahaIT to implement the Amended BharatNet Programme in Maharashtra under the State-led model, with Rs. 10,520 crore Central support.
- Covers 28,237 Gram Panchayats, including upgrades from linear to ring topology, and connectivity-on-demand for 15,799 villages.
India reaffirms commitment to whale conservation at IWC-70 in Hobart, Australia
India reaffirmed its commitment to cetacean conservation at the 70th Meeting of the International Whaling Commission (IWC-70), held in Hobart, Australia, from 28 September to 2 October 2026, coinciding with the 80th anniversary of the International Convention for the Regulation of Whaling.
- The meeting adopted the Hobart Declaration by consensus; Dr Urbain Brito of Benin elected Chair.
- India protects cetaceans under the Wild Life (Protection) Act, 1972, Marine Protected Areas and Project Dolphin; the Arabian Sea humpback whale is among 25 species flagged for focused conservation. India joined IWC in 1981.
Daily Current Affairs 5 October 2026 - Download Free PDF Here
Economy & Banking
MoF projects India's GDP growth at 7.3% in Q2 FY27
The Ministry of Finance's Monthly Economic Review for September 2026 projected real GDP growth of 7.3% for Q2 FY27 (July–September 2026), based on its nowcasting model, following 7.8% growth in Q1 FY27.
- Drivers: resilient consumption and investment, electricity/fuel consumption, bank credit expansion, and capital goods/infrastructure activity; strong services sector and steady automobile sales.
- Exports: nearly USD 400 billion in the first five months of FY27; full-year exports could approach USD 1 trillion if the pace continues.
HDFC Bank appoints Anup Bagchi as MD & CEO, first external candidate to lead the bank
HDFC Bank appointed Anup Bagchi as MD & CEO for three years, becoming the bank's first external appointee to the role, after RBI approval. He assumes charge on 27 October 2026, succeeding Sashidhar Jagdishan, whose term ends 26 October 2026. Bagchi previously served as MD & CEO of ICICI Prudential Life Insurance and held senior roles at ICICI Bank and ICICI Securities.
Bank of Baroda becomes 2nd PSU lender to sponsor a pension fund under PFRDA
Through its subsidiary BoB Pension Fund Management Company, Bank of Baroda received the Certificate of Appointment as Sponsor of a Pension Fund from PFRDA, presented to MD & CEO Debadatta Chand during NPS Divas 2026. SBI was the first PSB to enter this segment, in April 2008.
THE World University Rankings 2027: IISc Bengaluru India's highest-ranked institution
Times Higher Education released the THE World University Rankings 2027; the Indian Institute of Science, Bengaluru, is India's highest-ranked institution at 254th globally (score 57). The University of Oxford retained the top spot for the 11th consecutive year, followed by MIT. India had 143 universities represented, second only to the US (168).
Science & Technology
FWDA partners with Portugal's Keydef to manufacture AI-based UAVs
Indian deep-tech defence startup Flying Wedge Defence & Aerospace (FWDA) partnered with Portugal's Keydef to manufacture the Kaal Bhairava autonomous UAV and the YAMA swarm interceptor drone in Portugal for global markets, backed by an initial €6 million investment.
- Focus: surveillance and air-defence systems, plus civilian uses like precision agriculture.
- Keydef and Sketchpixel will pursue NATO certification for Portugal-manufactured systems, widening access to NATO markets.
SpaceX launches 130 payloads, including Google's AI-chip prototype, into LEO
SpaceX launched 130 payloads aboard a Falcon 9 rocket from Vandenberg Space Force Base, California, as part of its Transporter-18 smallsat rideshare mission, including Google's Project Suncatcher prototype – testing Google's Tensor Processing Units (TPUs) for AI/ML workloads in orbit, a step toward an orbital data centre.
Defence & Security
Rajnath Singh's DAD reforms strengthen defence financial management
The digital overhaul launched at the Defence Accounts Department's 279th Annual Day – integrating SAKSHAM with IAFIS, operationalising the Treasury Single Account via PRISM and eKUBER, and revamping the National Compilation System – marks a significant modernisation of India's defence financial infrastructure, improving real-time budget visibility and transparency.
FWDA-Keydef UAV partnership expands India's defence-export footprint
The FWDA-Keydef tie-up for manufacturing the Kaal Bhairava UAV and YAMA interceptor drone in Portugal reflects India's growing defence-startup export ambitions, with NATO certification offering a pathway into alliance markets.
Sports
Asian Games 2026 conclude: India finish 4th with 85 medals, a golden sweep in cricket, hockey and kabaddi
The 20th Asian Games (Aichi-Nagoya 2026) concluded on 4 October 2026. India finished 4th overall with 85 medals – 21 gold, 27 silver and 37 bronze – its second-highest haul ever, behind the record 106 (later corrected to 107) medals at Hangzhou 2023. China topped the table with 169 gold and 341 medals in total.
Golden sweep in team sports
- Cricket: both the men's and women's teams won gold – a "golden double." The men's team beat Pakistan by 19 runs in the final at Kōrogi Sports Park, Nisshin, while the women's team beat Sri Lanka by 147 runs to retain their title.
- Hockey: both men's (beat Malaysia 5-1) and women's (beat China 1-0) teams won gold – a historic first-time double for India.
- Kabaddi: both men's and women's teams defended their titles, beating Iran in both finals.
Individual and other highlights
- Lovlina Borgohain became only the second Indian woman boxer, after Mary Kom, to win Asian Games gold – on her birthday.
- Kumkum Mohod became India's first individual recurve archery Asian Games champion and secured an LA 2028 quota.
- Pranavi Urs won India's first individual golf gold; with Aditi Ashok and Diksha Dagar, India also won its first-ever women's team golf medal (silver).
- Sawan Barwal won India's first men's marathon medal since 1982; Harita Bhadra won India's first women's 200m medal since 2018.
- Gulveer Singh and Vaibhav Sooryavanshi (youngest Indian Asian Games gold medallist, via men's cricket) were among the breakout stars.
- India's flag-bearer at the closing ceremony was double-gold shooter Neeru Dhanda.
- The men's and women's cricket, hockey and kabaddi golds also secured direct qualification quotas for LA 2028.
Important Days
5 October – World Teachers' Day
Observed globally on 5 October to honour the contribution of teachers worldwide, coordinated by UNESCO with the ILO, UNICEF, UNDP and Education International. It commemorates the adoption of the 1966 ILO/UNESCO Recommendation concerning the Status of Teachers.
2 to 8 October – National Wildlife Week (70th edition)
India's 70th National Wildlife Week runs from 2 to 8 October 2026, promoting wildlife conservation and public awareness about protecting the country's biodiversity and natural habitats.
1 October – International Day of Older Persons, World Vegetarian Day and International Coffee Day (recap)
- International Day of Older Persons: 2026 theme "The Age of Longevity: Rethinking Systems for Longer Lives." Declared by UNGA Resolution A/RES/45/106 (1990); first observed 1991.
- World Vegetarian Day: established in 1977 by the North American Vegetarian Society; marks the start of Vegetarian Awareness Month (1–31 October) and International Vegetarian Week (1–7 October).
- International Coffee Day: 2026 theme "Celebrating Coffee, Honouring the People Behind Every Cup." First observed 2015; 2026 marked its first official UNGA-designated observance, with FAO hosting the inaugural official celebration in Rome.
2 October – Gandhi Jayanti, Lal Bahadur Shastri Jayanti and International Day of Non-Violence (recap)
A national holiday marking the birth anniversaries of Mahatma Gandhi (1869) and former PM Lal Bahadur Shastri (1904); the UN also observes 2 October as the International Day of Non-Violence.
Quick Revision – One-Liners
- RoDTEP and RoSCTL extended till – 31 December 2026, amid West Asia disruptions.
- CAFE-III norms – effective 1 April 2027 to 31 March 2032; target improvement – about 16.7% in fuel consumption.
- DAD's 279th Annual Day initiatives – SAKSHAM-IAFIS integration, Treasury Single Account via PRISM/eKUBER, revamped National Compilation System.
- PRIP New Discovery Track funding cap – Rs. 50 crore per project; first call approved 41 projects worth Rs. 1,600 crore.
- Amended BharatNet Programme, Maharashtra – Rs. 10,520 crore; covers 28,237 Gram Panchayats.
- IWC-70 host and outcome – Hobart, Australia; Hobart Declaration adopted; India joined IWC in 1981.
- MoF's Q2 FY27 India GDP growth projection – 7.3% (after 7.8% in Q1 FY27).
- HDFC Bank's new MD & CEO – Anup Bagchi (first external candidate), from 27 October 2026.
- 2nd PSU lender to sponsor a pension fund under PFRDA – Bank of Baroda (after SBI).
- THE World University Rankings 2027 – University of Oxford tops (11th year running); India's top institution – IISc Bengaluru (254th).
- FWDA's Portugal UAV partner – Keydef; drones – Kaal Bhairava (UAV) and YAMA (interceptor).
- SpaceX's AI-chip-in-orbit prototype – Google's Project Suncatcher, launched via Transporter-18.
- Asian Games 2026 final standings – India 4th, 85 medals (21G, 27S, 37B); China tops with 169 gold.
- India's team-sport golden sweep – cricket, hockey and kabaddi (both men's and women's in each).
- Men's cricket gold-medal final result – India beat Pakistan by 19 runs.
- India's closing-ceremony flag-bearer – Neeru Dhanda (double-gold shooter).
- World Teachers' Day – 5 October; marks the 1966 ILO/UNESCO Recommendation on the Status of Teachers.
- National Wildlife Week (India) – 2–8 October, 70th edition.
