Current Affairs Today

We are here for you to provide the important Recent and Latest Current Affairs November 1 & 2 2026, which have unique updates of Latest Current Affairs 2026 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

CBIC Notifies Key GST Changes under Finance Act, 2026 Effective from November 01, 2026
In October 2026, the Central Board of Indirect Taxes and Customs (CBIC), a statutory body under the Department of Revenue (DoR), Ministry of Finance (MoF), issued a notification in exercise of powers given under Section 1(2)(b) of the Finance Act, 2026, and appointed November 01, 2026 as the date on which the key Goods and Services Tax (GST) changes introduced under the Act will come into force.

• The key GST changes are related to the treatment of post-sale discounts; provisional refunds under the inverted duty structure, aimed at easing compliance and enhancing liquidity flow for businesses.

Key GST Changes:
Post-Supply Discounts: The amended section 15 (3)(b) of the Act introduced the provision to exclude post-supply discounts from the value  of supply if the supplier issues a credit note and the recipient reverses the corresponding Input Tax Credit (ITC), without the requirement of prior agreement or strict invoice-wise linkage.
Provisional Refunds for Inverted Duty Structure: Section 54(6) of the Act extends the statutory provisional refund mechanism to eligible inverted duty structure claims, enabling businesses to receive 90% of eligible refunds provisionally within 7 days, subject to conditions.
Removal of Export Refund Limit: In addition, the amended section 54(14) removes the Rs 1,000 minimum refund restriction for tax paid on goods exported out of India, benefiting small exporters.

• However, this relaxation is not applicable to other refund categories.

GoI Constitutes High-Level Committee on Banking for Viksit Bharat, Chaired by Suresh N. Patel
In October 2026, the Ministry of Finance (MoF), Government of India (GoI), announced the constitution of a High-Level Committee on Banking for Viksit Bharat, chaired by Suresh N. Patel, former Central Vigilance Commissioner (CVC), with a tenure of six months.

• The newly formed committee has been tasked to undertake a comprehensive review of the country’s banking sector and recommend structural, institutional, regulatory and legislative reforms to make it globally competitive, financially inclusive and resilient for Viksit Bharat, 2047.

Key Details of the Committee:
Background: In February 2026, While presenting the Union Budget for Financial Year 2026-27 (FY27), Union Minister Nirmala Sitharaman, Ministry of Finance (MoF), announced the setting up of the committee.
Composition: Apart from the charmain, the committee comprises members that include: Shirish Chandra Murmu, Deputy Governor, Reserve Bank of India (RBI); Padmaja Chunduru, former Managing Director (MD) & Chief Executive Officer (CEO) of Indian Bank; and N S Vishwanathan, former Deputy Governor, RBI.

• In addition,  the Joint Secretary (Banking), Department of Financial Services (DFS), MoF, has been appointed as the Member Secretary of the committee.

Terms of Reference (ToR):
Review of Banking Regulations: The committee will examine the existing regulatory and legislative frameworks governing banks, including Regional Rural Banks (RRBs) and cooperative banks, and recommend reforms to strengthen the banking system.

PM Narendra Modi inaugurates ESTIC 2026 at Bharat Mandapam in New Delhi
In October 2026, Prime Minister (PM) Narendra Modi inaugurated the 2nd edition of Emerging Science, Technology and Innovation Conclave (ESTIC 2026) , India’s flagship annual Science, Technology and Innovation (STI) event, held from October 27 to 29, 2026 at Bharat Mandapam in New Delhi, Delhi.

• PM Narendra Modi urged the scientific community and deep-tech startups to deliver measurable, scalable technological outcomes within a 3 year-window.

About ESTIC 2026:
Theme:  The event, held under the theme “Creative Minds, Catalyzing Science, Empowering Technologies”, was organised by the Council of Scientific and Industrial Research (CSIR) Ministry of Science and Technology (MoS&T) in partnership with CSIR-National Institute for Interdisciplinary Science and Technology (CSIR-NIIST).
Thematic Areas: The event was centered around 12 key thematic areas, including generative and autonomous Artificial Intelligence (AI), biotechnology, quantum communication, agri-tech, advanced materials, manufacturing, healthcare, energy, climate science and ocean research, among others.
Global Connect Networking Event: A new initiative brought together over 300 invited participants to promote international research partnerships, industry-academia collaboration and commercialisation of innovations.
About CSIR: Founded in 1942, CSIR is India’s premier Research & Development (R&D) organization with headquarters in New Delhi, Delhi.

Union MoS Sanjay Seth Inaugurates विश्व-2026 (VISV-2026) at Maneskshaw Centre in New Delhi
In October 2026, Union Minister of State (MoS) Sanjay Seth, Ministry of Defence (MoD), inaugurated ‘विश्व-2026 (VISV-2026: Vision, Innovation, Synergy, Values)’, held under the theme “Showcasing Defence Capabilities, Strengthening Global Partnerships”, at Manekshaw Centre in New Delhi (Delhi).
About VISV-2026:
Organised by: The event was organised by the Defence Research and Development Organisation (DRDO) in partnership with the Centre for Joint Warfare Studies (CENJOWS).
Four Pillars: The event aimed to promote indigenous defence technologies, self-reliance and global partnerships, guided by four pillars: Vision, Innovation, Synergy and Values, aligned with Viksit Bharat 2047.
Publication: Union MoS Sanjay Seth released a foreign-language compendium of DRDO products in Arabic, Spanish and French, aimed at promoting India’s indigenous defence technologies among international partners.
About CENJOWS: It is an Indian tri-service defense think tank raised on August 27, 2007. It is registered under the Societies Registration Act, 1860 and works under the MoD with headquarters in New Delhi, Delhi.

Department of Posts Releases Commemorative Postage Stamps on Breast Cancer Awareness
In October 2026, the Department of Posts (DoP), Ministry of Communications, released a special souvenir sheet featuring two commemorative postage stamps, with face values of Rs.25 and Rs.50,  and picture postcards on Breast cancer awareness at Dak Bhawan, New Delhi, Delhi to mark International Breast Cancer Awareness Month.

• The stamps were jointly unveiled by Manisha Sinha, Director General (DG) of Postal Services, and Punya Salila Srivastava, Secretary, Ministry of Health and Family Welfare (MoHFW)

About Commemorative Postage Stamps:
Design: The stamps feature breast cancer awareness imagery, highlighting the importance of early detection, screening and timely treatment. They were issued together in a special souvenir sheet.
Collaboration: The DoP, with technical support from the MoHFW, launched the initiative to promote early cancer detection, regular screening and preventive healthcare through its postal network, supporting the National Programme for Prevention and Control of Non-Communicable Diseases (NP-NCD).
Availability: The souvenir sheet can be purchased nationwide through Philately Bureaus and the official e-Post Office portal: https://www.epostoffice.gov.in/.
Breast Cancer Awareness Month: Observed annually from 1 to 31 October to promote early detection, education and support for people affected by breast cancer.

MoLE Constitutes National Social Security Board for Unorganised, Gig and Platform Workers
In October 2026, the Ministry of Labour and Employment (MoLE) notified the constitution of the two National Social Security Board (NSSB) for Unorganised Workers and Gig and Platform Workers under the Code on Social Security, 2020, to strengthen statutory social security planning and welfare monitoring.

• The boards have a three-year tenure, are chaired by Union Minister Mansukh Mandaviya, MoLE, with Dr. Chandra Bhushan Kumar, Secretary of MoLE, as Vice-Chairperson, and must meet at least three times a year, following Government of India (GoI) procedures.

Highlights of the National Social Security Board:
Composition: The Unorganised Workers’ Board includes representatives from trade unions, employers’ organisations, civil society, Members of Parliament (MPs), Central Ministries and State Governments, with the Director General (DG) of Labour Welfare as its ex-officio Member-Secretary.

• The Gig and Platform Workers’ Board includes five aggregators, Eternal Group, Swiggy, Zepto, Urban Company and Rapido, and worker representatives from the Indian Federation of App-Based Transport Workers (IFAT), Bharatiya Mazdoor Sangh (BMS), National Front of Indian Trade Unions (NFITU) and Trade Union Coordination Centre (TUCC).

Functions: The boards recommend suitable social security schemes, advise the Central Government on Code-related matters, monitor centrally administered welfare schemes, review State-level record-keeping and expenditure from relevant funds and accounts, and perform other functions assigned by the Centre.
Framework: The Code on Social Security, 2020, was enacted in September 2020, came into effect on 21 November 2025 and replaced nine central labour laws; Section 6 establishes the National Social Security Board for unorganised workers, while Section 114(6) assigns its responsibilities concerning gig and platform workers through separate membership.
Categories: Gig workers earn through arrangements outside the traditional employer–employee relationship, whereas platform workers undertake work through or with online platforms, including food-delivery and ride-hailing applications.

IN-SPACe Selects Six Private Space Companies for AI INSPIRED Grants of Up to Rs 1 Crore Each
In October 2026, the Indian National Space Promotion and Authorisation Centre (IN-SPACe), under the Department of Space (DoS), selected six private space-sector companies for seed-fund grants of up to Rs 1 crore each under its Artificial Intelligence (AI) INSPIRED (AI for INnovating Space Performance with Intelligent Resilient Engines Development) Opportunities in Space Sector programme. 

• The programme aims to support AI-based solutions in areas such as precision landing, space surveillance, space debris detection and spacecraft autonomy. 

About Six Selected Start-ups:
Funding: With an outlay of up to Rs. 6 crore, the programme supports startups and Micro and Small Enterprises (MSEs) in developing indigenous AI-based space technologies across three areas: Edge Intelligence in Orbit, Space for Earth Intelligence and Smart Access to Space.
Selected Start-ups: The six selected entities are Agnikul Cosmos (AI-based precision landing), Digantara (space object evaluation), EON Space Labs (space debris detection), OrbitAid Aerospace (satellite servicing and refuelling), Omnipresent Robot Technologies (automated target recognition for defence and docking) and TakeMeToSpace (AI-based spacecraft autonomy and control).
About IN-SPACe: Established on 24 June 2020, it is a single-window autonomous agency under the Department of Space (DOS), headquartered in Ahmedabad, Gujarat, and chaired by Dr. Pawan Goenka.

INTERNATIONAL AFFAIRS

World Bank Report: India Records One of the World’s Fastest Poverty Declines in 12 Years, to 2.6%
In October 2026, the World Bank (WB) released its latest report titled “India Poverty and Equity Brief: October 2026”, highlighting that India’s extreme poverty rate declined from 27.1% in 2011 to 2.6% in 2023, marking one of the fastest poverty reductions globally over 12 years. 

• The report estimated that 496 million people moved above the lower-middle-income poverty threshold of USD 4.20 per day, measured using 2021 Purchasing Power Parity (PPP). 

Key Findings:
Key Drivers: The report cited that the poverty rate decline was mainly attributed to the robust consumption growth, improvement in employment, particularly women; and expanded social transfers, including food subsidies.
Progress in LMIC Poverty Line: Also, the proportion of people living below the Lower-Middle-Income Country(LMIC) poverty line of USD 4.20  per day (measured at 2021 Purchasing Power Parity, PPP), declined from 57.7% to 16.1% during the period.
Key Projection: The report further projected that the poverty rate (at the USD 4.20 per day threshold) could decline in the next 2 years, although at a slower pace i.e. from 14.2% (in 2026) to 12.1% (by 2028).
Non-monetary Poverty: As per the WB’s latest report, non-monetary poverty, which is measured through the Oxford Poverty and Human Development Initiative (OPHDI)’s Multidimensional Poverty Index (MPI) has also decreased from 53.8% (in 2005-06) to 16.4% (2019-21).

BANKING & FINANCE

ADB Approves USD 139.55 Million Loan for Urban Development in Puducherry
In October 2026, the Asian Development Bank (ADB) approved a USD 139.55 million loan for the Puducherry Integrated Urban Livability Improvement Project (PIULIP), marking ADB’s first engagement in the Union Territory (UT) of Puducherry. 

• The project aims to enhance urban livability through climate-resilient water supply, sewerage and sanitation infrastructure, modernised public spaces, and strengthened municipal governance and service delivery.

Highlights of the Puducherry Urban Development Project:
Water Supply: Upgrade 100 Kilometres (km) of existing water supply networks, lay 80 km of new pipelines, construct overhead service reservoirs and establish district metered areas and brackish-water reverse osmosis (RO) desalination plants.
Sewerage: Build 270 km of underground sewer networks, rehabilitate 80 km of existing networks and establish a sewage treatment plant with a capacity of 50 million litres per day (MLD).
Urban Infrastructure: Develop 4.5 km of pedestrian walkways accessible to persons with disabilities and improve drainage through concrete lining and stabilisation to reduce flooding, accidents and extreme-weather impacts. 

Upstox Receives SEBI Approval to Operate as Online Bond Platform Provider
In October 2026, the broking firm Upstox (Upstox Securities Private Limited) received approval from the Securities and Exchange Board of India (SEBI) to operate as an Online Bond Platform Provider (OBPP), enabling it to offer corporate bonds directly to investors.

• The approval places Upstox alongside major brokerage firms such as Groww, Zerodha and Angel One in the fixed-income investment segment.

About OBPP approval:
Framework: SEBI introduced a stock exchange registration framework for OBPPs to regulate online debt-security platforms, with nearly 40 firms receiving approval since 2023.
Access: The OBPP approval enables Upstox to offer bonds directly through its platform without third-party partnerships, replacing its earlier arrangement with IndiaBonds.
Bond Offerings: Corporate bonds are available on Upstox’s platform with investments starting at Rs. 1,000, offers options across risk categories with indicative returns ranging from 8% to 16%.
Bond Ratings: The initial offering is expected to include bonds rated between AAA and BBB-, subject to availability, with an emphasis on relatively lower-risk securities.
About Upstox: Founded in 2009 as RKSV Securities Private Limited, Upstox was rebranded in 2016 and is headquartered in Mumbai, Maharashtra, with Ravi Kumar serving as its Chief Executive Officer (CEO).

AWARDS & RECOGNITIONS

PB Engineer Wins ABU Broadcast Engineering Excellence Award 2026
In October 2026, Nongmaithem Nandakumar Singh, an engineer from Prasar Bharati (PB), won the Asia-Pacific Broadcasting Union (ABU) Broadcast Engineering Excellence Award 2026 for his contributions to broadcast technology and innovation.

• The award was received by Mihir Kumar Jha, Under Secretary, Ministry of Information and Broadcasting (MIB), on Singh’s behalf. 

Highlights of the ABU Broadcast Engineering Excellence Award 2026:
Innovations: 

• DDPlayout: Indigenous automated playout software adopted by multiple Doordarshan Kendras (DDKs).
• DDSlowMo: Cost-effective slow-motion replay system used in national-level sporting events. 

ABU: The ABU, which presented the award, comprises around 224 broadcasting and media organisations across 66 countries.
Assembly: The 63rd ABU General Assembly and Associated Meetings were held in Colombo, Sri Lanka from 30 October to 3 November 2026 under the theme “Media for Peace and Humanity: Truth, Trust, and Transformation,” featuring technical, programme and sports group meetings, the Broadcasting for All Forum, Media Leaders’ Forum and Super Panel.
About PB: Established on 23 November 1997 under the Prasar Bharati (Broadcasting Corporation of India) Act, 1990, it comprises Akashvani (All India Radio) and Doordarshan (DD), is headquartered in New Delhi(Delhi), and is chaired by Prasoon Joshi. 

APPOINTMENTS & RESIGNATIONS

IREDA Appoints Jatin Kumar Nayak as Chairman and Managing Director
On 30 October 2026, the Indian Renewable Energy Development Agency Limited (IREDA), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of New and Renewable Energy (MNRE), appointed Jatin Kumar Nayak as its Chairman and Managing Director (CMD).

• His appointment was approved by the Appointments Committee of the Cabinet (ACC) through an order issued by the MNRE. 
• He succeeded Dr. Bijay Kumar Mohanty, who was holding the additional charge of CMD of IREDA. 

About Jatin Kumar Nayak:
Experience: Has over three decades of experience in the power sector and resource-intensive industries, including mining and metals.
Previous Position: Served as Executive Director (Finance) at REC Limited (formerly Rural Electrification Corporation Limited), a Maharatna Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP), Government of India (GoI).

Air Marshal Inderpal Singh Walia Appointed as  Next Vice Chief of the IAF
In October 2026, Air Marshal Inderpal Singh Walia, currently serving as Air Officer Commanding-in-Chief (AOC-in-C) of the Eastern Air Command, was appointed as the next Vice Chief of the Air Staff (VCAS) of the Indian Air Force (IAF), effective from 1 November 2026. 

• He will succeed Air Marshal Ashutosh Dixit, who has been appointed as the 29th Chief of the Air Staff (CAS), in the rank of Air Chief Marshal, effective from 31 October 2026.

Highlights of Air Marshal Inderpal Singh Walia’s Appointment:
Profile: He was an alumnus of the National Defence Academy (NDA), was commissioned into the Indian Air Force (IAF) fighter stream on 11 June 1988.
Aircraft: Commanded a frontline fighter squadron, Tactics and Air Combat Development Establishment (TACDE) and Air Force Station Bareilly; qualified to fly MiG-21, MiG-23, MiG-27, Jaguar and Su-30MKI fighter aircraft.
Assignments: Headed the Directorate of Air Staff Inspection (DASI), served as Defence Attaché in Japan and South Korea, and Senior Air Staff Officer of Eastern Air Command.
Awards: Received the Vayu Sena Medal (VM) in 2008 and Ati Vishisht Seva Medal (AVSM) in 2018.
About IAF: Established on 8 October 1932, is headquartered in New Delhi, Delhi,  India, and operates under the Ministry of Defence (MoD).

SCIENCE & TECHNOLOGY

ISRO Successfully Launches NVS-03 Satellite Aboard GSLV-F18 from Sriharikota, AP
On 30 October 2026, Indian Space Research Organisation (ISRO) successfully launched its next-generation navigation satellite (NVS-03) aboard the Geosynchronous Satellite Launch Vehicle (GSLV-F18) from the Second Launch Pad (SLP), Satish Dhawan Space Centre (SDSC), Sriharikota, Andhra Pradesh (AP)

• The mission marks the 20th GSLV flight and restores India’s indigenous Navigation with Indian Constellation (NavIC) system to its minimum operational configuration of four satellites.

About NVS-03 Satellite:
Overview: NVS-03 is the third satellite in ISRO’s second-generation navigation series, designed to ensure continuity, improve availability and enhance the capabilities of India’s indigenous NavIC system.
Deployment: The 2,250-kg (kilogram) NVS-03 satellite separated from the launch vehicle and reached its intended elliptical Geosynchronous Transfer Orbit (GTO) in approximately 18 minutes.

• Thomas Kurian served as the GSLV Project Director and Mission Director

OBITUARY

Former Rajya Sabha MP Ravindra Kishore Sinha Passed Away at 75
In October 2026, veteran Bharatiya Janata Party (BJP) leader and former Rajya Sabha Member of Parliament (MP) Ravindra Kishore Sinha passed away at the age of 75 in Noida, Uttar Pradesh (UP).

• He was born on 22 September 1951 in Bahiyara village, Bhojpur district, Bihar.

About Ravindra Kishore Sinha:
Career: He began his career as a journalist with a Hindi newspaper and worked as a war correspondent during the 1971 India–Pakistan War.
Entrepreneurship: In 1974, he founded Security and Intelligence Services (SIS), providing employment opportunities to retired defence personnel. The company subsequently expanded into security and business support services.
Political Career: He was among the early members of the BJP and served on its National Executive Committee. He was elected to the Rajya Sabha from Bihar in 2014 and served until 9 April 2020.

IMPORTANT DAYS

National Unity Day 2026 – October 31
National Unity Day or Rashtriya Ekta Diwas is observed annually across India on 31 October to commemorate the birth anniversary of Sardar Vallabhbhai Patel, popularly known as the “Iron Man of India.” 

• 31 October 2026 marks the 151st birth anniversary of Sardar Vallabhbhai Patel. 

Background:
Declaration: In 2014, the Government of India (GoI), led by Prime Minister (PM) Narendra Modi, declared 31 October, the birth anniversary of Sardar Vallabhbhai Patel, as National Unity Day to honour his contribution to uniting India.
First Observation: The first National Unity Day (Rashtriya Ekta Diwas) was observed on 31 October 2014.
2026 Events: The 2026 National Unity Day celebrations at the Statue of Unity, Ekta Nagar, Gujarat, are primarily coordinated by the Ministry of Home Affairs (MHA), in collaboration with the Government of Gujarat and the Statue of Unity Area Development and Tourism Governance Authority (SOUADTGA).

World Vegan Day 2026 – November 1
World Vegan Day (WVD) is observed globally on November 1 every year to promote veganism, animal welfare and the benefits of a vegan lifestyle. 

• 1 November 2026 marks the 82nd anniversary of The Vegan Society and the 32nd anniversary of World Vegan Day (WVD). 

Background:
Origin: WVD was established in 1994 by Louise Wallis, then Chair of The Vegan Society, to commemorate the organisation’s 50th anniversary.
First Observance: The first WVD was observed on 1 November 1994.
Origin of the Term ‘Vegan’: Coined by Donald Watson in November 1944, the word was formed from the first three and last two letters of ‘vegetarian’, meaning “the beginning and end of vegetarianism.”

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