Current Affairs 31 October 2026

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NATIONAL AFFAIRS

Overview of Liechtenstein’s Hereditary Prince Alois Visit to India from October 25 to 28, 2026
Hereditary Prince Alois, the Acting Head of State of the Principality of Liechtenstein undertook a 4-day long state visit to India from October 25 to 28, 2026, at the invitation of Prime Minister (PM) Narendra Modi. This marked Prince Alois second visit to India in 2026 as he previously visited the country to attend the Artificial Intelligence (AI) Impact Summit in February 2026. 

• He was accompanied by his spouse Hereditary Princess Sophie and a high-level official as well as a business delegation which included top industry leaders.

Ceremonial Welcome: Hereditary Prince Alois of Liechtenstein, who was accompanied by his wife Hereditary Princess Sophie, was accorded a ceremonial reception by the President of India Droupadi Murmu at Rashtrapati Bhawan in New Delhi (Delhi) in the presence of PM Narendra Modi.
Bilateral Meeting: ​During the visit, PM Modi held a bilateral meeting with Hereditary Prince Alois at Hyderabad House (Delhi).

• During the meeting, discussions were mainly focused on strengthening cooperation in various areas including trade and investment, science, technology and innovation and people-to-people exchanges.

Meeting with Commerce and Industry Minister: During his visit to India, Prince Alois called on Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoCI) to discuss stronger economic engagement and investment opportunities under the India-European Free Trade Association (EFTA) Trade and Economic Partnership Agreement (TEPA).
India-EFTA Anniversary: Prince Alois visit to India coincided with the 1st anniversary of operationalisation of India-Europe Free Trade Association (India-EFTA) Trade and Economic Partnership Agreement (TEPA) (entered into force on October 01, 2025).

Ayushman Vay Vandana Initiative Completes Two Years of Implementation
In October 2026, the Ayushman Vay Vandana (AVV) healthcare initiative, launched for all senior citizens aged 70 years and above, irrespective of their socio-economic status, completed two years of implementation.
About Ayushman Vay Vandana (AVV):
Implementation: The initiative is implemented by the National Health Authority (NHA) under the Ministry of Health and Family Welfare (MoH&FW).
Insurance Limit: Under AVV, eligible senior citizens receive health coverage of up to Rs 5 lakh per family per year for secondary and tertiary care hospitalisation.
Age Limit: Senior citizens aged 70 years and above belonging to families already covered under AB PM-JAY receive an additional top-up cover of up to Rs 5 lakh per year, exclusively for themselves.

Union Cabinet Approves Rs. 7,395.55 Crore Pradhan Mantri Viksit Gram Swaraj Yojana
In October 2026, the Union Cabinet, chaired by Prime Minister (PM) Narendra Modi, approved the Pradhan Mantri Viksit Gram Swaraj Yojana (PM VGSY), a Centrally Sponsored Scheme (CSS) with a total outlay of Rs. 7,395.55 crore for a five-year period from Financial Year 2026–2027 (FY27) to (FY31), co-terminus with the Sixteenth Finance Commission period.

• The scheme aims to strengthen grassroots governance through comprehensive Gram Panchayat Development Plans (GPDPs), capacity building, digital support, and enhanced financial accountability aligned with Viksit Bharat vision.

About Pradhan Mantri Viksit Gram Swaraj Yojana:
Outlay: The scheme has a total outlay of Rs. 7,395.55 crore, comprising a Central Share of Rs. 4,869.48 crore and a State Share of Rs. 2,526.07 crore. Additionally, the Sixteenth Finance Commission has recommended approximately Rs. 4.35 lakh crore in grants for Rural Local Bodies during FY27 to FY31.
Implemented by: Ministry of Panchayati Raj (MoPR) through State Governments and Union Territory (UT) Administrations.
Coverage: The scheme will cover all States and Union Territories (UTs), encompassing over 2.55 lakh Panchayats and Traditional Local Bodies, including those in non-Part IX areas where Panchayats do not exist.
Components: The six components of PM VGSY are Gram Panchayats as Hubs of Local Governance, Holistic GP Development Planning, Common Digital Platform for Panchayat Governance, Connecting National Priorities with Local Needs, Capacity Building and Digital Handholding, Transparent and Efficient Utilisation of Resources

ESIC Extends New Amnesty Scheme 2025 till December 31, 2026
In October 2026, the Employees’ State Insurance Corporation (ESIC) extended the timeline for the New Amnesty Scheme 2025  for another 3 months i.e. till December 31, 2026 (from the original deadline of September 30, 2026), retaining the existing terms and conditions of the scheme.
About New Amnesty Scheme 2025:
One-time Dispute Resolution: The scheme is designed as a one-time dispute resolution initiative aimed at reducing pending court cases and encouraging compliance with the provisions of the ESI Act, 1948.
Ad-hoc Assessments: The scheme has a provision of settlement of ad-hoc assessments allowing the employers to pay the actual contributions due along with interest, without any damages being levied.
Conditions for withdrawal of cases: The scheme allows the withdrawal of pending cases where employers have already paid their dues, subject to 10% of disputed damages.
Eligible Cases: Also, the court cases or legal disputes filed up to March 31, 2025 are eligible under the scheme, subject to its terms and conditions.

CCS Approves Project Worth Over Rs 40,000 Crore to Build 8 NGCs for IN
In October 2026, the Cabinet Committee on Security (CCS), chaired by Prime Minister (PM) Narendra Modi, approved a project worth over Rs 40,000 crore to build 8 Next-Generation Corvettes (NGCs) for the Indian Navy (IN).
Key Details of the Project:
Constructed by: The approved NGcs will be constructed by the two state-owned shipbuilders: Garden Reach Shipbuilders & Engineers Limited (GRSE), Kolkata (West Bengal, WB); and Goa Shipyard Limited (GSL), Goa.

• Out of 8 approved NGCs, GRSE will construct 5 corvettes, while the remaining 3 corvettes will be constructed by GSL.

Design: These NGCs will be constructed to a new in-house design developed by the IN, using the advanced shipbuilding technologies.
Specifications: Each warship will have a displacement of approximately 2,000 tonnes and a speed of around 30 knots.
Indigenous Manufacturing: The project is expected to incorporate over 70% indigenous content, supporting domestic shipbuilding, employment generation and the defence manufacturing ecosystem.
Timeline: The contracts for the construction of these warships are expected to be signed within the next few days and the 1st NGC is expected to be delivered by 2030.

India Post and UTI Mutual Fund Sign MoU to Strengthen Pan-India Doorstep KYC Services
On 30 October 2026, India Post, under the Department of Posts (DoP), Ministry of Communications  and UTI Mutual Fund, one of India’s oldest and largest Asset Management Companies (AMCs), signed a Memorandum of Understanding (MoU) to strengthen their existing partnership and expand doorstep Know Your Customer (KYC) verification services across India, including remote and underserved areas.

• The MoU was signed by Adnan Ahmed, Chief General Manager, Parcel & CCS Directorate, DoP and Vetri Subramaniam, Managing Director & Chief Executive Officer(CEO), UTI AMC, in Mumbai, Maharashtra.

Key Details of MoU:
Background: The renewed MoU builds on the earlier KYC remediation initiative to resolve pending KYC requirements and documentation gaps.
KYC Verification: India Post will provide doorstep KYC services to UTI Mutual Fund investors nationwide, particularly in remote areas, to simplify verification and improve access to mutual fund services.
Significance: The collaboration is expected to strengthen investor services, encourage wider participation in mutual funds and ensure uninterrupted access to mutual fund investments.

INTERNATIONAL AFFAIRS

UN Reports At Least 25 Women and Girls Killed Daily in Armed Conflicts Worldwide
In October 2026, the United Nations (UN), released the 2026 UN Secretary-General’s Report on Women, Peace and Security (WPS), revealing that at least 25 women and girls were killed daily in armed conflicts worldwide during 2025. 

• According to the report, over 37,000 civilians were killed in armed conflicts worldwide in 2025, with women and girls accounting for 25% (one in four deaths), double their share in 2021. It also highlighted rising conflict-related sexual violence, poverty and limited participation of women in global peace negotiations. 

Key Findings of the Report:
Background: On 31 October 2000, the United Nations Security Council (UNSC) adopted Resolution 1325, establishing the Women, Peace and Security (WPS) Agenda to promote women’s participation in conflict prevention, peace negotiations and post-conflict reconstruction. The UN Secretary-General publishes an annual WPS report to review progress under the resolution.
Casualties: More than 37,000 civilians were killed in armed conflicts in 2025. Around 750 million women and girls lived within 50 kilometers(km) of active conflicts, 40 million more than in 2024.
Violence: The UN verified 9,788 cases of conflict-related sexual violence in 2025, nearly four times the 2022 figure. In Haiti, reported cases rose by 163%.
Poverty: Around 170 million women and girls faced conflict and extreme poverty, surviving on less than USD 3 per day. 

• Women spent five times as many hours on unpaid care work as men in conflict-affected countries. 

BANKING & FINANCE

YES BANK Launches ‘YES vibez’ Savings Account for Generation Z Customers
In October 2026, YES BANK launched ‘YES vibez’, a savings account designed for Generation Z (Gen Z) customers aged 18–30 years, offering cashback of up to Rs. 12,000 on debit card spends, rewards of up to Rs. 3,000 on Unified Payments Interface (UPI) merchant transactions and lifestyle benefits.
Highlights of YES vibez Savings Account:
Objective: The account aims to combine digital banking, investment opportunities, spending rewards and lifestyle benefits to meet the evolving preferences of Gen Z customers.
Benefits: The account offers onboarding benefits worth up to Rs. 22,000, zero service charges subject to maintaining the required Average Monthly Balance (AMB) of Rs 25,000 and a demat and trading account through YES Securities with zero brokerage for one year.
Debit Card Variants: The account offers multiple debit card options, including the YES BANK Reflection Debit Card, which allows customers to personalise their card image, and the YES BANK HealthFit Debit Card, which provides fitness and wellness benefits.
Credit Facility: Customers can access a fixed deposit (FD)-backed credit card, free for the first year, to help build their credit history.
About YES BANK: Established in 2004 and headquartered in Mumbai, Maharashtra, YES BANK is led by Managing Director and Chief Executive Officer (MD & CEO) Vinay M. Tonse.

Sumitomo Mitsui Bank Partners to invest in One Planet Partner’s First P-E fund
In October 2026, Sumitomo Mitsui Trust Bank (SuMiTB), Japan’s financial services group, entered into a strategic partnership with One Planet Partners (OPP), a leading Asset Management Company (AMC) in India, by acquiring a minority stake in the latter’s company to expand its exposure to India’s energy transition, mobility and manufacturing sectors.
Key Details of Partnership:
Key Purpose: Under this partnership, SuMiTB will launch OPP’s maiden Private Equity (PE) fund targeting over Rs 3,000 crore, with a first close planned by 2027.
Investment Focus: The proposed fund will focus on high-growth businesses across energy transition, mobility, and manufacturing, with a scale-up capital of Rs 100-500 crore for enterprises with revenue between Rs 200 and Rs 2,000 crore.
Establishment: Also, Japanese bank SuMiTB has agreed to set up a dedicated Separately Managed Account (SMA). The account will be managed by OPP that will help the bank to expand its footprint in the Indian market.
About OPP: Founded in 2024, OPP is a private equity and Venture Capital (VC) firm, with headquarters in Mumbai, Maharashtra.

ECONOMY & BUSINESS

MoF Data: India’s economy Projects to Grow 7.35% in Q2FY27
In October 2026, the Ministry of Finance (MoF) released the “Monthly Economic Review for October 2026”, projecting  India’s Gross Domestic Product (GDP) growth rate at 7.35% in 2nd Quarter (Q2: July-September) of Financial Year 2026-27 (FY27).

• However, the current projection is 45 basis points (bps) lower than 7.8% recorded in the preceding quarter of FY27.

Key Findings:
Model-based by Estimate:  The GDP estimate for QFY27 is based on the MoF’s  Economic Division nowcasting model, which was introduced in the Economic Survey of FY26.
Growth Contributors: MoF’s latest estimates for Q2FY27 are supported by several indicators such as: 

• Gross Goods and Services Tax (GST) collections (+15% on annual basis); e-way bill generation, which tracks the movement of goods (+7%); and domestic automobile sales ( around + 25%). 

Strongest Indicator: As per the report, Index of Industrial Production (IIP) which recorded 8% annual growth rate (in August 2026) has emerged as the strongest indicator.

• It further showed that electricity and gas supply; and manufacturing sectors expanded by 12.3% and 9%, respectively, while mining and quarrying declined by 5.6%.

Private Capital Expenditure: Also, the latest Monthly Economic Review estimated that private capital expenditure from the project pipeline could reach Rs 3.2 lakh crore in the current fiscal year, up from Rs 2.6 lakh crore in FY26.
Key Risks: The review cautioned that global uncertainties such as: higher crude oil prices, geopolitical tensions (ongoing West Asia crises); and inflationary pressures, could impede the country’s growth momentum.
Economic Division: It works directly under the Department of Economic Affairs (DEA) of MoF, which focuses on economic policy research and advice. It publishes the Annual Economic Survey which is presented in the Parliament prior to the annual Union Budget, as well as Monthly Economic Review.

IG Defence Signs MoU with MSA Global to Boost India–Oman Defence Cooperation
In October 2026, an Indian defence technology start-up IG Defence signed a Memorandum of Understanding (MoU) with Oman-based MSA Global LLC to explore the co-development and localisation of advanced defence systems for Oman and the wider Gulf Cooperation Council (GCC) region. 

• The MoU was exchanged between Bodhisattwa Sanghapriya, Founder and Chief Executive Officer(CEO) of IG Defence, and Col. M. S. Atwal (Retd.), Chairman of MSA Global, during the 2nd India–Oman Defence Industry Seminar in Muscat, Oman. 

Highlights of the MoU:
Indigenous Platforms: The proposed collaboration covers three indigenous platforms developed by IG Defence: 

• KAL – Long-range attack Unmanned Aerial System (UAS) with a 1,000 km range;
• BAJ – Unmanned Aerial Interceptor for Counter-Unmanned Aircraft Systems (C-UAS); 
• JWALA – Micro-missile system for counter-drone operations. 

Focus: IG Defence showcased GRID (AI-powered Battle Management System), while the collaboration targets defence requirements in Oman and the wider Gulf Cooperation Council (GCC) region.
Significance: Strengthens India–Oman defence cooperation through drone and counter-drone technologies, technology transfer, indigenous manufacturing and defence exports, enhancing regional security capabilities.

APPOINTMENTS & RESIGNATIONS

FICCI Appoints Vijay Sankar as President-Elect for 2026–27
In October 2026,the Federation of Indian Chambers of Commerce and Industry (FICCI) appointed Vijay Sankar, Chairman of The Sanmar Group, as its President-Elect for 2026–27, following a decision taken at its National Executive Committee Meeting (NECM) held in Mumbai, Maharashtra.

• Currently serving as Senior Vice President(VP) of FICCI, he will succeed Anant Goenka as President after the conclusion of FICCI’s Annual General Meeting (AGM) and Annual Convention, scheduled for 18–19 November 2026 in New Delhi(Delhi).

About Vijay Sankar:
Current Position: He currently serves as Senior Vice-President (VP), FICCI and heads The Sanmar Group, a global industrial conglomerate with interests in chemicals, speciality chemicals, engineering, steel foundries and shipping.
Other Roles: He serves as Chairman and Non-Executive Director (ED) of Chemplast Sanmar Limited, Independent Director on the boards of TVS Motor Company Limited (TVS Motor) and Larsen & Toubro Limited (L&T) and Denmark’s Honorary Consul General in Chennai, Tamil Nadu (TN).

ENVIRONMENT

New Microscopic Land Snail Species Discovered in Kolhapur’s Tilari Region
In October 2026, researchers from the Thackeray Wildlife Foundation identified a new species of microscopic land snail, named Dicharax tilariensis, in the Tilari region of Kolhapur district, Maharashtra. The species is currently known only from this region, making it endemic to the area. 

• The research paper was published in the Journal of Conchology, published by the Conchological Society of Great Britain and Ireland. 

About the New Species:
Habitat: The snail inhabits microhabitats containing forest litter, decaying organic matter and moist soil in the semi-evergreen forests of Tilari.
Naming: The species name Dicharax tilariensis is derived from the Tilari region, its only known habitat.
Collection: Specimens were collected near Swapnavel Point, close to Tilarinagar, in Kolhapur district, Maharashtra at an elevation of 700–800 metres (m) above sea level.
Identification: Researchers compared its characteristics with other members of the Dicharax genus found across the Western Ghats and southern India. Its distinctive shell pattern, arrangement and prominent internal structure of the operculum (the lid that closes the shell) helped establish it as a separate species.
Research Team: The study was conducted by Amrut Bhosale, Tejas Thackeray and Akshay Khandekar of the Thackeray Wildlife Foundation, marking the second Dicharax species endemic to the northern Western Ghats. 

OBITUARY

Oscar-Nominated Actress Barbara Barrie Passed Away at 95
In October 2026, American actress Barbara Barrie, best known for her Oscar-nominated performance, died at the age of 95 in Manhattan, New York City, United States of America (USA).

• She was born as Barbara Ann Berman on 23 May 1931 in Chicago, Illinois, USA. 

About Barbara Barrie:
Debut: Made her Broadway debut in The Wooden Dish (1955) and her film debut in Giant (1956).
Recognition: Won the Best Actress award at the 1964 Cannes Film Festival for her performance in One Potato, Two Potato, which explored interracial marriage and racial prejudice.
Oscar: Earned an Academy Award nomination for Best Supporting Actress at the 1980 Oscars for portraying Evelyn Stohler in Breaking Away (1979).
Television: Played Elizabeth Miller in Barney Miller and Helen Keane in Suddenly Susan (1996–2000), receiving three Emmy nominations during her career.
Theatre: Received a Tony Award nomination for Best Featured Actress in a Musical for originating the role of Sarah in Stephen Sondheim’s Company (1970). Her performance in The Killdeer earned her an Obie Award and a Drama Desk Award in 1974. 

• Her final screen credit was in the 2025 romantic comedy Things Like This.

IMPORTANT DAYS

World Savings Day 2026 – October 31
World Savings Day (WSD), also known as World Thrift Day, is observed annually worldwide on 31 October to promote the habit of saving money and raise awareness about financial security and economic stability. 

• 2026 Theme: “AI Advises, human decides.”

Background:
Origin: Introduced by Italian Professor Filippo Ravizza.
Establishment: The International Savings Banking Institute (ISBI), now known as the World Savings Banks Institute (WSBI), was established in 1924 during the 1st International Thrift Congress in Milan, Italy.
First Observance: The first WSD was observed on 31 October 1924.

World Cities Day 2026 – October 31
The United Nations (UN) established World Cities Day (WCD), which is observed annually on 31 October to promote international cooperation in addressing urbanisation challenges and advancing sustainable urban development worldwide. 

• 31st October 2026 marks the 13th WCD.
• 2026 Theme: “Regenerating the City: Adequate Housing for All.” 

Background:
Establishment: The United Nations General Assembly (UNGA) designated 31 October as World Cities Day through Resolution 68/239 (2013), with the observance beginning in 2014.
Urban October: World Cities Day concludes Urban October, a month-long initiative launched by UN-Habitat to raise awareness of urbanisation challenges and sustainable urban development.
First Observance: WCD was first celebrated globally on 31 October 2014.
2026 Observance: Fuzhou, China, hosts the global observance of World Cities Day on 31 October 2026, focusing on neighbourhood renewal and sustainable urban development.

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