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We are here for you to provide the important Recent and Latest Current Affairs October 16 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

Cabinet Approves Rs 53,428 Crore for Continuation of the NSAP for 5 years 
In October 2026, the Union Cabinet under the chairmanship of Prime Minister (PM) Narendra Modi approved the continuation of the National Social Assistance Programme (NSAP) for a period of 5 years i.e.  from Financial Year 2026–27 (FY27) to FY31, with a total budget of Rs 53,428 crore, while expanding disability pension eligibility and increasing assistance.
Key Changes:
Renamed Scheme: The Union Cabinet has decided to rename the scheme from existing NSAP to Pradhan Mantri Samajik Sahayata Yojana (PMSSY). Renamed Sub-scheme: In addition, the cabinet also renamed three sub-schemes of NSAP:

• The Old-Age Pension sub-scheme: from Indira Gandhi National Old Age Pension Scheme (IGNOAPS) to Pradhan Mantri Vridhavastha Pension Yojana;
• Widow Pension: From Indira Gandhi National Widow Pension Scheme (IGNWP) to Pradhan Mantri Vidhawa Pension Yojana;
• Disability:  from Indira Gandhi National Disability Pension Scheme (IGNDPS) changed to Pradhan Mantri Divyangjan Pension Yojana;
• Also, the National Family Benefit scheme has been  renamed to Pradhan Mantri Parivar Labh Yojana.

Other Key Approval: The Union Cabinet has also approved a Productivity-Linked Bonus (PLB) equivalent to 78 days’ wages for around 11.4 lakh non-gazetted employees. The approved bonus will incur an expenditure of nearly Rs 2,009.61 crore to the Railways.

MoPSW Launches Two Credit Risk Insurance Products to Support Shipbuilding Industry
On 13 October 2026, Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW) launched two specialised credit risk insurance products, “Shipbuilding Project Credit Risk Insurance Policy (SbPCP)” and “Business Credit Shield Policy – Shipbuilders (BCSPS)”.

• The Products were launched under the Shipbuilding Development Scheme (SbDS) at the 21st Maritime State Development Council (MSDC) meeting held in Mumbai, Maharashtra.

About Credit Risk Insurance Products:
Export Policy: SbPCP, developed by Export Credit Guarantee Corporation of India Limited (ECGC), covers export shipbuilding projects and protects shipyards against specified credit and payment risks.
Domestic Policy: BCSPS, developed by The New India Assurance Company Limited (NIACL), protects domestic shipbuilding projects against specified payment risks.
Objective: The policies aim to reduce financial stress arising from delayed milestone payments and sudden global market fluctuations, strengthen shipyards’ financial resilience, support large-scale vessel construction and promote India’s indigenous shipbuilding and maritime capabilities.
Support: Government of India (GoI) will subsidise insurance premiums and directly support insurers when shipyards file claims under the policies.

MoRD Signs MoU with NAR to Bolster Training Standards, Institutional Capacity,  and Settlement
In October 2026, the Ministry of Rural Development (MoRD) signed a Memorandum of Understanding (MoU) with the National Academy of RUDSETI (NAR) to establish uniform training standards, ensure quality administration and facilitate systematic capacity building across Rural Self Employment Training Institutes (RSETIs) nationwide.
Key Details of MoU:
Signatories: The MoU was exchanged between S. Sasikumar, Joint Secretary (Rural Skills), MoRD, and Raju N. Kori, Director General (DG), NAR. 
Focus Areas: The newly formed strategic partnership aims to:

• Enhance candidate registration through Kaushal Panjee;
• Aadhaar-based face authentication through the Aadhaar Enabled Biometric Attendance System (AEBAS);
• Improve the quality and relevance of training delivered through RSETIs. 

Event: The MoRD organised the National SARAS Mela 2026 in Vijayawada, Andhra Pradesh (AP), marking the first time the national-level event was held outside the Delhi-National Capital Region (NCR).

Five States to Get Permanent Seats in New GST Standing Committee
On October 13, 2026, the Government of India (GoI) announced that Karnataka, Maharashtra, Uttar Pradesh (UP), Gujarat and Tamil Nadu (TN) would become permanent members of a new Standing Committee under the Goods and Services Tax (GST) framework to strengthen tax administration and expand the taxpayer base.

• The committee will comprise 12 states, five large, four medium and three small, with five non-rotating members and seven positions rotating every two years. 

Highlights of New GST Standing Committee:
GST Expansion: The Centre urged states to expand the taxpayer base using data analytics and technology following rate rationalisation and procedural simplification.
Compliance: India has approximately 1.7 crore registered GST taxpayers. The Centre will work with the GST Network (GSTN) to improve disclosures, return filing and invoice matching to curb tax leakages and boost revenue. 
Invoicing: States may be asked to implement Business-to-Consumer (B2C) e-invoicing from April 1, supported by a GSTN application and incentives for businesses to improve supply-chain transparency.
About GST: GST is an indirect, destination-based tax levied on the supply of goods and services in India, introduced on July 1, 2017, under the 101st Constitutional Amendment Act, 2016. 

NSDF, SAI and IOCL Partner to Strengthen India’s Boxing Ecosystem with Rs. 40 Crore Investment
On October 13, 2026, the National Sports Development Fund (NSDF), Sports Authority of India (SAI) and Indian Oil Corporation Limited (IOCL) signed a Memorandum of Understanding (MoU) to strengthen India’s boxing ecosystem through a two-year investment of Rs. 40 Crore for talent identification and athlete development.

• The MoU was signed in the presence of Hari Ranjan Rao, Secretary of Ministry of Youth Affairs and Sports (MYAS) and Ajay Singh, President of Boxing Federation of India (BFI) and other senior officials.

Highlights of the Partnership:
Funding: IOCL will invest Rs. 40 crore over two years to support talent identification, athlete development, coaching, sports science, international exposure, boxing academies and capacity building for coaches and officials. 
Partnership: IOCL will provide Corporate Social Responsibility (CSR) funding, NSDF will facilitate resource mobilisation for sports development, and SAI will provide technical expertise. 
Athlete Development: The initiative will provide quality coaching, scientific support, training facilities and national and international competitive opportunities for emerging and elite boxers.
Policy: The MoU follows the inclusion of sports as a dedicated thematic area under the Department of Public Enterprises’ Common CSR Theme Framework, encouraging corporate participation in sports development. 
About SAI: Established by the Government of India (GoI) in 1984, is headquartered in New Delhi, Delhi and functions under the Ministry of Youth Affairs and Sports (MYAS).

IBM Signs MoU with MeitY Startup Hub to Support India’s Deep-Tech Startups
In October 2026, International Business Machines (IBM) and MeitY Startup Hub (MSH), under the Ministry of Electronics and Information Technology (MeitY), signed a Memorandum of Understanding (MoU) at the IBM Think 2026 conference in Mumbai, Maharashtra to strengthen India’s deep-tech startup ecosystem.
Key Highlights of MoU:
Aim: The collaboration aims to help startups in enterprise Artificial Intelligence (AI), hybrid cloud, and quantum computing to develop, validate, and commercialise solutions for Indian and global markets through real-world proof-of-concept projects.
Platforms: IBM’s portfolio includes watsonx (enterprise AI and data platform), Bob (enterprise AI coding agent), and Sovereign Core (AI-ready software stack)
Focus: The partnership will explore opportunities across banking, finance, government, and industry, while nurturing innovators from Tier 2 and Tier 3 cities in alignment with the Viksit Bharat vision.
Support: IBM will provide selected startups with technical expertise, skilling opportunities, access to its global network, and connections with industry experts.
About MSH: Established in 2016 as an Independent Business Division (IBD) under the Digital India Corporation (DIC), MeitY, to promote entrepreneurship and innovation in the technology sector.

IMD Launches ‘Cyclone Warning and Marine Weather Services DSS’ to Strengthen Disaster Preparedness 
In October 2026, the India Meteorological Department (IMD), under the Ministry of Earth Sciences (MoES), launched the Cyclone Warning and Marine Weather Services Decision Support System (DSS), an interactive Web-based Geographic Information System (WebGIS) platform, to strengthen cyclone early-warning services, disaster preparedness and public safety across India. 
About DSS Platform:
Objectives: The newly launched DSS platform is developed to provide location-specific information, enhance understanding of potential impacts and bridge the gap between forecasts and their practical use during cyclones and other severe weather events.
Key Function: Through the use of interactive maps and visualisations, the WebGIS-based platform integrates cyclone tracks, intensity forecasts, wind distribution, rainfall warnings, storm surge information and rainfall forecasts for river catchments.
Available: The user can access the platform through the official IMD  website and Regional Specialised Meteorological Centre (RSMC), New  Delhi, website.
About IMD: Established in 1875, IMD works under the Ministry of Earth Sciences (MoES), deals with all matters relating to meteorology, seismology, and associated subjects. It is also one of the six RSMCs of the World Meteorological Organisation (WMO) with headquarters in Delhi.

Union Minister JP Nadda Laid Foundation stone for ICMR’s 1st high-altitude health research centre in Keylong, HP
In October 2026, Union Minister Jagat Prakash (JP) Nadda, Ministry of Health and Family Welfare (MoHFW), laid the foundation stone of the Indian Council of Medical Research (ICMR)’s 1st  High Altitude Medicine and Public Health Research Centre at Keylong in Himachal Pradesh (HP).

• The centre aims to promote research on high-altitude health challenges and improve healthcare services for people living in mountainous regions.

Key Details of Research Centre:
Research Area: The research areas for the centre will be altitude-related health risks, acclimatisation, maternal and newborn health, child growth and nutrition, infections and Non-Communicable Diseases (NCDs), and disease patterns in Himalayan communities.
Collaborative Research: ICMR will collaborate with the Armed Forces Medical Services (AFMS) and All India Institute of Medical Sciences (AIIMS), Bilaspur, to address health challenges faced by Himalayan communities and defence personnel.
Technology: The centre will use telemedicine, drone-enabled healthcare logistics, and digital health systems, among others,  to enhance healthcare delivery in remote  areas of the state.
Other Initiatives: JP Nadda inaugurated a scientific exhibition, launched the centre’s website and institutional video, released a commemorative postal cover and planted Himalayan saplings under the Green ICMR Campus Initiative.

INTERNATIONAL AFFAIRS

Indian Navy’s INS Tarkash Participates in IBSAMAR IX 2026 in South Africa
In October 2026, the Indian Navy’s (INs) frontline guided-missile stealth frigate Indian Naval Ship (INS) Tarkash participated in the 9th edition of the India-Brazil-South Africa Maritime (IBSAMAR IX) Exercise 2026, hosted by South Africa at Simon’s Town, Western Cape, South Africa.

• The trilateral IBSAMAR IX Exercise was conducted from October 12 to 22, 2026, to enhance interoperability, strengthen maritime cooperation, and promote mutual understanding among the Indian, Brazilian and South African navies. 

Highlights of the IBSAMAR IX Exercise: 
Framework: The IBSAMAR Exercise is a biennial trilateral naval exercise conducted under the India-Brazil-South Africa (IBSA) framework since 2008. 
Theme:  Hosted by South Africa, with India as the lead nation, IBSAMAR IX carries the theme “Stronger Together Towards a Shared Future in the Maritime Domain.” 
Participating Naval Assets: India deployed INS Tarkash with a Chetak helicopter; Brazil participated with BNS Barroso and a Lynx helicopter; South Africa deployed SAS Amatola, SAS King Sekhukhune I, SAS Adam Kok III and submarine SAS Manthatisi. 

BANKING & FINANCE

SEBI Notifies CAC for Celebrity Endorsements for Brands; Extends IPO-Issue Size Relaxation Till March 2027 
In October 2026, the Securities and Exchange Board of India (SEBI) notified a Common Advertisement Code (CAC) for market intermediaries, enabling them to engage celebrities for brand or entity-level promotion and restricting endorsements of specific financial products or services.

• SEBI introduced the new advertisement framework through amendments to the SEBI (Intermediaries) Regulations, 2008 and will come into force 180 days after official notification (i.e. on April 8, 2027).

Key Details:
Applicability: As per SEBI’s notification, the new CAC will be applicable to regulated entities such as: stock brokers, depository participants, investment advisers, research analysts, online bond platform providers, portfolio managers, and  Mutual Funds (MFs)/Asset Management Companies (AMCs).
Prior Approval: Under the new advertisement code, any advertisement featuring a celebrity will now need to obtain a prior approval from the supervisory body or the SEBI if no such body has been specified for the regulated entity.
Cost Rules: SEBI has clarified that expenses incurred on celebrity endorsements cannot be passed on to clients or charged to Mutual Fund (MF) schemes and such advertisements are required to include the applicable disclaimers.
Extends IPO Issue Size Revision: New Timeline: SEBI has  extended the timeline for the revision of Initial Public Offering (IPO) issue size until March 31, 2027. 

• Previously in April 2026, the market regulator extended the timeline to September 30, 2026 due to West-Asia conflict.

ReNew Secures USD 100 Million from Dutch Development Bank FMO for Renewable Energy Projects 
In October 2026, ReNew Energy Global plc, one of India’s leading decarbonisation solutions companies, secured a USD 100 million (approximately Rs. 955 crore) debt facility from Dutch entrepreneurial development bank FMO to finance renewable energy projects under construction. 

• The facility was extended to ReNew Solar Power Private Limited under the Voluntary Retention Route (VRR), qualifies under the 2X Challenge, and supports long-term financing for India’s clean energy transition. 

About ReNew–FMO Financing:
Purpose: The rupee-denominated proceeds from the 10-year financing will fund renewable energy projects under construction across the ReNew Group, with the tenure aligning with the long operational life of clean energy assets and providing stable, long-term capital.
Significance: The transaction marks FMO’s largest single-ticket investment in India’s energy sector and its largest 2X-aligned corporate financing in Asia to date, while strengthening ReNew’s access to international capital and diversifying its funding sources across domestic and global credit markets.
2X Challenge: The facility qualifies under the 2X Challenge, a global initiative promoting women’s economic participation and empowerment through targeted investment, linking renewable energy financing with gender-focused investment objectives. 

NovaFusion Capital Receives RBI Approval to Operate as NBFC
In October 2026, Astranova Mobility announced that its lending subsidiary, NovaFusion Capital, received approval within 90 days from the Reserve Bank of India (RBI) to operate as a Non-Banking Financial Company (NBFC),  targeting Rs 5,000 crore in assets under management over five years to finance commercial electric vehicles (EVs). 
About Astranova Mobility’s NBFC Approval:
Approval: NovaFusion Capital received RBI approval to operate as an NBFC, enabling Astranova Mobility to develop a dedicated lending platform focused on electric mobility and climate-positive assets. 
Target: With capital for its initial Rs. 200 crore deployment in place, NovaFusion Capital aims to achieve Rs. 5,000 crore in Assets Under Management (AUM) over five years, primarily financing commercial electric vehicles (EVs) and other climate-positive assets.
About NBFC Licence: An NBFC must be incorporated under the Companies Act, 1956 or 2013, maintain the applicable minimum Net Owned Fund (NOF), generally Rs. 10 crore, subject to category-specific limits, and obtain a Certificate of Registration (CoR) from RBI. 

NSEIX and London Stock Exchange Sign MoU to Explore Cross-Border Listings and Trading Connectivity 
In October 2026, NSE International Exchange (NSE IX), signed a Memorandum of Understanding (MoU) with London Stock Exchange plc (LSE) to explore cross-border listings, trading connectivity and new financial products, strengthening capital market cooperation between India and the United Kingdom (UK). 

• The proposed collaboration covers dual and cross-listings, exchange-traded funds, derivatives linked to Financial Times Stock Exchange (FTSE) Russell indices (wholly owned subsidiary of LSE Group), joint equity indices and market data distribution. 

About NSEIX–LSE MoU:
Listings & Trading: The exchanges will explore dual and cross-listings of equities, fixed-income securities and Exchange-Traded Funds (ETFs), along with bidirectional trading connectivity, to enhance market liquidity, fundraising opportunities and investor access.
Derivatives: The exchanges will examine derivatives listed on NSE International Exchange (NSE IX) using FTSE Russell indices as underlying benchmarks, alongside the joint development of new equity indices and market data distribution across both markets.
Policy: The collaboration follows the India–UK Comprehensive Economic and Trade Agreement (CETA) and explores capital market integration, cross-border listings, trading connectivity and new financial products, without confirming their launch. 
About NSEIX: Established in June 2017, formerly known as NSE IFSC (International Financial Services Centre) Limited, is a wholly owned subsidiary of India’s National Stock Exchange (NSE), headquartered in Gujarat International Finance Tec-City (GIFT City), Gandhinagar, Gujarat. 

ACQUISITIONS & MERGERS

Cabinet Approves Rs 52,878 crore sale of 60.72% stake in IDBI Bank to Fairfax Arm
In October 2026, the Cabinet Committee on Economic Affairs (CCEA), chaired by Prime Minister (PM) Narendra Modi, approved the sale of 60.72% stake worth Rs 52,878.08 crore in IDBI Bank Limited to M/s 10955230 Canada Inc., subsidiary of Fairfax Financial Holding.

• The proposed transaction will be the largest Foreign Direct Investment (FDI) in India’s financial sector to date.

Sale of Stakes: The proposed transaction involves the sale of a 30.48% stake held by the Government of India (GoI) and a 30.24% stake held by Life Insurance Corporation of India (LIC) in IDBI Bank. 
Compliance Roadmap: Prior to the transaction being completed, the Fairfax’s subsidiary is required to submit its credentials to the Reserve Bank of India (RBI) and provide a roadmap for complying with regulatory conditions.
Post-transaction Change: Upon the completion of the transaction, the GoI will retain 15% and LIC 19% stakes in the private sector bank. 
About IDBI Bank: Originally, the bank was established as a Development Financial Institution (DFI) in 1964, later in 2004, it was converted into a commercial bank, with its headquarter in Mumbai, Maharashtra.

SCIENCE & TECHNOLOGY

DRDO Tests Quantum Key Distribution Platform on Live Military Network at Chandipur, Odisha
On 14 October 2026, the Defence Research and Development Organisation (DRDO) successfully configured and tested its Quantum Key Distribution (QKD) platform on the live network of the Proof & Experimental Establishment (PXE) at Chandipur, Odisha. 

• The platform aims to secure real-time observations and telemetry associated with artillery and armoured weapon trials, strengthening India’s quantum-secured communication capabilities. 

About DRDO’s Quantum Key Distribution Platform:
Development: The platform was designed and developed under DRDO’s Microelectronic Devices, Computational Systems & Cyber Security (MCC) cluster, with Bengaluru (Karnataka)-based Taqbit Labs as the production partner, collaborating with DRDO on QKD systems for the Indian Armed Forces since 2020. 
Mechanism: QKD uses quantum properties to distribute secret cryptographic keys, detecting potential interception through disturbances caused by measuring quantum signals.
Security: QKD enables secure key distribution and eavesdropping detection, while quantum-resistant algorithms protect data confidentiality, integrity and authentication against future quantum-computing threats. 

SDAL delivers 450 Nagastra 1R loitering munitions to Indian Army 
In October 2026, Solar Defence and Aerospace Limited (SDAL), a subsidiary of Solar Industries India Limited, delivered 450 Nagastra-1R loitering munitions to the Indian Army (IA), strengthening India’s indigenous defence manufacturing and precision-strike capabilities.

• Nagastra-1R is an indigenously developed loitering munition designed to conduct surveillance and precision strikes against enemy targets.

About Nagastra 1R:
Kamikaze UAV: It is a man-portable “Kamikaze or suicide” Unmanned Aerial Vehcile (UAV), specifically designed to precision strikes in short-range operations.
Local Content: Nagastra 1R features more than 80% indigenous components, making it a highly cost-efficient substitute for imported drones.
Capabilities: The system’s radar  has the capability to trace aerial threats up to a range of 10 kilometers (kms), while the Electro-Optical Tracking System (EOTS) can detect such threats up to 6 kms, which more than the IA’s current operational requirement of 2.5 kms.
Other Key features:The drone with operational endurance of up to 60 minutes (mins.), carries around 1.5 kilogram (kg) of high-explosive fragmentation warheads.
Defence Contract: The IA placed an order worth Rs 158 crore in June 2025 under its Emergency Procurement (EP) process.
About SDAL: SDAL is an Indian defence and aerospace manufacturer headquartered in Nagpur, Maharashtra, engaged in developing indigenous military equipment and weapon systems, while Satyanarayan Nuwal serves as the Founder and Chairman of Solar Group.

OBITUARY

Padma Shri Awardee Cheruvayal Raman, Known as ‘Nellachan’, Passed Away
In October 2026, Padma Shri awardee Cheruvayal Raman, Kerala’s renowned traditional rice conservationist known as ‘Nellachan’ (Father of Paddy), ‘Ramettan’, ‘Guardian of Native Paddy’ and the ‘Living Paddy Gene Bank’ for preserving traditional rice varieties, passed away at the age of 74 in Kerala. He was born on June 6, 1952 in Kammana village, Wayanad district, Kerala. 

• In 2023, Cheruvayal Raman, conferred with Padma Shri, India’s fourth-highest civilian award in the field of Others (Agriculture).

About Cheruvayal Raman:
Profile: Cheruvayal Raman dedicated his life to preserving over 45 traditional rice varieties through traditional farming on his three-acre paddy field in Kammana, Wayanad, while promoting chemical-free farming and indigenous agricultural biodiversity.
Contribution: He preserved indigenous varieties such as aromatic Gandhakashala, red-grained Thondi, Kunnumkulamban, Peruvaka, Kuthicheera, Kunkumasali, Kunjunni, Onamottam, Onachanna, Vellimuthu, Kanakam, and Chembakam, distributing traditional paddy seeds to farmers free of cost.

• Apart from rice varieties, he conserved traditional vegetables, medicinal plants, trees and other indigenous crops. 

International Representation: He represented Kerala’s farming community at the 2011 International Conference on Biodiversity Conservation in Hyderabad(Telangana) and global agricultural events across 11 countries.
Awards: Cheruvayal Raman received the National Plant Genome Saviour Award (2016) and the first Oommen Chandy Memorial Award (2025).

IMPORTANT DAYS

International Day of Rural Women 2026 – October 15
The United Nations (UN) International Day of Rural Women (IDRW) is observed annually on October 15 to honour the contributions of rural and indigenous women to agriculture, food security, environmental protection and rural development.

• The 2026IDRW, promoted by the UN Women.
• 2026 Theme: “Rural Women Farmers Caring for Mother Nature”

Background:
Origin: Proposed during the Fourth World Conference on Women in Beijing, China, in 1995.
Adoption: UNGA adopted Resolution A/RES/62/136 on December 18, 2007, designating October 15 as the observance date.
First Observance: The day was first observed on October 15, 2008. 
2026 Event:
FAO Event: : On 15 October 2026, the Food and Agriculture Organization (FAO) organised events in Rome, Italy, including the FAO 100 Women Heroes Presentation Ceremony and discussions on digital agriculture and policies supporting women farmers, as part of the IYWF 2026. 
Event in India: The Department of Agriculture & Farmers Welfare (DA&FW), under the Ministry of Agriculture & Farmers Welfare (MoA&FW), organised the national-level Mahila Kisan Diwas 2026 celebration on 15 October 2026 at the Dr. B. R. Ambedkar International Centre, New Delhi.

Global Handwashing Day 2026 – October 15 
Global Handwashing Day (GHD) is annually observed worldwide on 15th October to raise awareness about handwashing with soap and water as a simple, effective and affordable way to prevent infections.

• 2026 Theme: “Be a Handwashing Hero” (continuation of the multi-year theme).

Background:  
Origin: GHD was launched by the Global Handwashing Partnership (GHP) in August 2008 during World Water Week (17–23 August) in Stockholm, Sweden.
First Observance: GHD was first celebrated on 15th October 2008.
Related Observance: The World Health Organization (WHO) annually observes World Hand Hygiene Day on 5th May to promote hand hygiene and infection prevention.
2026 Event: The WHO and United Nations Children’s Fund (UNICEF) hosted a global webinar on 15th October 2026 to mark GHD.

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