Daily Current Affairs 9 October 2026
Daily current affairs for 9 October 2026 — 17 verified news items across Economy, Banking, International & more, with exam-angle notes, keywords and practice…
Part of October 2026 current affairs: the month's top stories by topic
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In this digest · 17 items
Economy
India withdraws tax benefit on gold, silver, platinum imports by banks
The Indian government has withdrawn the tax benefit previously available to banks and nominated agencies on imports of gold, silver, and platinum. These imports will now attract a 3% Integrated Goods and Services Tax (IGST). This move aims to ensure parity in the taxation of precious metal imports across different import routes, including bullion imports, as stated by the Revenue Secretary.
Source BusinessLine
Practice MCQs
Q1 What tax change has the Indian government implemented on gold, silver, and platinum imports by banks?
- AWithdrawal of tax benefit and imposition of 3% IGSTCorrect
- BIntroduction of a 5% customs duty
- CExemption from all import taxes
- DReduction of IGST to 1%
Explanation The government withdrew the tax benefit and imposed a 3% IGST on these imports to ensure tax parity.
Q2 What is the main reason for imposing 3% IGST on precious metal imports by banks and nominated agencies?
- ATo increase government revenue
- BTo ensure parity of taxes across different import routesCorrect
- CTo discourage imports of precious metals
- DTo promote domestic production of metals
Explanation The tax change was made to ensure parity of taxes imposed on imports through different routes.
Centre Launches ₹10,000 Crore SME Growth Fund to Boost MSMEs
The Government of India has launched a ₹10,000 crore SME Growth Fund (SGF) to address the funding gap faced by micro, small, and medium enterprises (MSMEs). The fund will provide equity capital to these businesses, enabling them to expand their capacity, adopt new technologies, and enhance their competitiveness in the global market.
Source Livemint
Practice MCQs
Q1 What is the primary objective of the ₹10,000 crore SME Growth Fund launched by the Government of India?
- ATo provide equity capital to MSMEs for expansion and technology adoptionCorrect
- BTo offer subsidies to large corporations
- CTo fund infrastructure projects in rural areas
- DTo provide loans to farmers
Explanation The SME Growth Fund aims to provide equity capital to MSMEs to help them expand capacity, adopt technology, and compete globally.
Q2 How much funding has the Government of India allocated for the SME Growth Fund?
- A₹5,000 crore
- B₹10,000 croreCorrect
- C₹15,000 crore
- D₹20,000 crore
Explanation The SME Growth Fund has been allocated ₹10,000 crore to support MSMEs.
India's Share of Global Greenfield Investments More Than Double China's in 2020-25
According to a UN Conference on Trade and Development report, India's share of global greenfield investments from 2020 to 2025 has more than doubled that of China. The report highlights that greenfield investments are increasingly occurring in strategic sectors. Despite signs of strain in domestic consumption due to higher prices, India remains the fastest-growing major economy during this period.
Source The Hindu
Practice MCQs
Q1 According to the UN Conference on Trade and Development report, how does India's share of global greenfield investments in 2020-25 compare to China's?
- AIndia's share is more than double China'sCorrect
- BIndia's share is equal to China's
- CIndia's share is half of China's
- DIndia's share is less than China's
Explanation The report states that India's share of global greenfield investments is more than double that of China during 2020-25.
Q2 What sector trend is highlighted in the UNCTAD report regarding greenfield investments?
- AIncreasing investments in strategic sectorsCorrect
- BDeclining investments in manufacturing sectors
- CStable investments in agricultural sectors
- DDecreasing investments in technology sectors
Explanation The report notes that greenfield investments are increasingly taking place in strategic sectors.
Q3 Despite being the fastest-growing major economy, what challenge is India facing according to the report?
- ADomestic consumption showing signs of strain due to higher pricesCorrect
- BDecline in foreign direct investment
- CRising unemployment rates
- DDecrease in export volumes
Explanation The report mentions that domestic consumption in India is starting to show signs of strain due to higher prices.
GST Council Proposes Process Reforms to Overhaul Tax Administration
In October 2026, the GST Council introduced several process reforms aimed at improving the administration of the Goods and Services Tax (GST) in India. These reforms follow the resolution of most rate-related issues during the Council's September 2025 meeting. The new proposals are expected to streamline GST processes and enhance tax compliance across the country.
Source The Hindu
Practice MCQs
Q1 What was the focus of the GST Council's reforms proposed in October 2026?
- AProcess reforms to improve tax administrationCorrect
- BChanges in GST tax rates
- CIntroduction of new GST slabs
- DAbolition of GST on essential goods
Explanation The GST Council proposed process reforms aimed at overhauling how GST is administered, following earlier resolution of rate-related issues.
Q2 When did the GST Council resolve most of the rate-related complications before proposing process reforms?
- ASeptember 2025Correct
- BOctober 2026
- CJanuary 2026
- DDecember 2025
Explanation The GST Council resolved most rate-related complications during its meeting in September 2025.
Cochin Shipyard Receives Orders to Build 40 Ships from Multiple Countries
Cochin Shipyard has secured an order to build 40 ships from countries including the U.S., Germany, and Norway. Additionally, some Russian entities have expressed interest in building ships in India, according to a senior Shipping Ministry official.
Source The Hindu
Practice MCQs
Q1 Which shipyard received an order to build 40 ships from countries including the U.S., Germany, and Norway?
- ACochin ShipyardCorrect
- BMazagon Dock Shipbuilders
- CGarden Reach Shipbuilders
- DGoa Shipyard
Explanation Cochin Shipyard received the order to build 40 ships from the U.S., Germany, Norway, and other nations.
Q2 According to a senior Shipping Ministry official, which country's entities have shown interest in building ships in India?
- ARussiaCorrect
- BJapan
- CSouth Korea
- DFrance
Explanation Some Russian entities have shown interest in building ships in India as per the senior Shipping Ministry official.
CEA Advocates Tailored Loan Overdue Rules for MSMEs
Chief Economic Adviser V. Anantha Nageswaran urged a review of loan overdue regulations for Micro, Small and Medium Enterprises (MSMEs). He emphasized the need to adjust these rules according to the actual cash-flow cycles of MSMEs instead of applying rigid, uniform global standards. This approach aims to better reflect the financial realities faced by MSMEs and support their economic sustainability.
Source Livemint
Practice MCQs
Q1 What did Chief Economic Adviser V. Anantha Nageswaran suggest regarding loan overdue rules for MSMEs?
- AImpose uniform global standards on all MSMEs
- BTailor loan overdue regulations to MSMEs' actual cash-flow cyclesCorrect
- CEliminate loan overdue rules for MSMEs
- DIncrease penalties for overdue MSME loans
Explanation V. Anantha Nageswaran recommended adjusting loan overdue rules based on MSMEs' actual cash-flow cycles rather than applying uniform global standards.
Q2 Who called for a review of loan overdue regulations for MSMEs?
- AFinance Minister
- BChief Economic Adviser V. Anantha NageswaranCorrect
- CRBI Governor
- DSEBI Chairman
Explanation The Chief Economic Adviser, V. Anantha Nageswaran, called for reviewing loan overdue rules for MSMEs.
Aditya Birla Renewables Seeks $1.5 Billion Rupee Loans to Acquire Shell's Solenergi
In July, Aditya Birla Group's renewable-energy arm agreed to acquire Solenergi Power, a unit of Shell Plc that includes Sprng Energy group companies, for $1.8 billion. To finance this acquisition, Aditya Birla Renewables is seeking $1.5 billion in rupee loans, according to bankers.
Source BusinessLine
Practice MCQs
Q1 Which company is Aditya Birla Renewables planning to acquire for $1.8 billion?
- ASolenergi PowerCorrect
- BSprng Energy
- CShell Plc
- DAditya Birla Group
Explanation Aditya Birla Renewables agreed to acquire Solenergi Power, a Shell Plc unit, for $1.8 billion.
Q2 How much in rupee loans is Aditya Birla Renewables seeking to finance the acquisition of Solenergi Power?
- A$1.5 billionCorrect
- B$1.8 billion
- C$1 billion
- D$2 billion
Explanation Aditya Birla Renewables is seeking $1.5 billion in rupee loans to buy Solenergi Power.
Q3 Solenergi Power, the company being acquired by Aditya Birla Renewables, is a unit of which global company?
- AShell PlcCorrect
- BSprng Energy
- CAditya Birla Group
- DReliance Industries
Explanation Solenergi Power is a unit of Shell Plc.
IRDAI May Introduce Insurance Commission Caps by January
The Insurance Regulatory and Development Authority of India (IRDAI) is considering implementing caps on insurance commissions as early as January. This move aims to address rising distribution expenses and enhance the affordability of insurance products, thereby expanding insurance coverage across the country.
Source BusinessLine
Practice MCQs
Q1 What is the primary reason IRDAI is considering capping insurance commissions?
- ATo reduce rising distribution expensesCorrect
- BTo increase insurance premiums
- CTo promote foreign investment in insurance
- DTo eliminate insurance agents
Explanation IRDAI aims to cap commissions to address rising distribution expenses and improve insurance affordability.
Q2 By when does IRDAI plan to roll out the insurance commission caps?
- AJanuaryCorrect
- BMarch
- CJune
- DDecember
Explanation The commission caps are expected to be introduced as early as January.
India May Delay 0.4% UPI Fee Rollout for Large Payments
India is considering postponing the implementation of a 0.4% fee on large Unified Payments Interface (UPI) transactions. This potential delay aims to provide the payments industry with more time to prepare and to prevent disruptions during the busy festive season.
Source BusinessLine
Practice MCQs
Q1 What is the proposed fee percentage that India may delay implementing on large UPI payments?
- A0.2%
- B0.4%Correct
- C0.6%
- D1%
Explanation India is considering delaying the rollout of a 0.4% fee on large UPI payments.
Q2 Why is India considering delaying the rollout of the UPI fee on large payments?
- ATo increase government revenue immediately
- BTo give the payments industry more time to prepareCorrect
- CTo promote cash transactions
- DTo reduce the number of UPI users
Explanation The delay is being considered to allow the payments industry additional time to prepare and to avoid disruption during the festive period.
Coal Supplies to Power Plants Rise 36% from September Lows
The Coal Ministry reported a 36% increase in coal supplies to power plants from the lows experienced in September. Additionally, rail loading of coal has improved, reaching 465 rakes per day. The Ministry expects stock depletion and power demand to moderate by mid-October based on historical trends.
Source The Hindu
Practice MCQs
Q1 By what percentage did coal supplies to power plants increase from September lows according to the Coal Ministry?
- A25%
- B36%Correct
- C45%
- D50%
Explanation The Coal Ministry stated that coal supplies to power plants rose by 36% from September lows.
Q2 What is the reported daily rail loading of coal as per the Coal Ministry?
- A365 rakes a day
- B465 rakes a dayCorrect
- C565 rakes a day
- D665 rakes a day
Explanation Rail loading has improved to 465 rakes a day according to the Coal Ministry.
Q3 When does the Coal Ministry expect stock depletion and power demand to moderate?
- AEarly October
- BMid-OctoberCorrect
- CLate October
- DNovember
Explanation The Ministry expects stock depletion and power demand to moderate by mid-October based on historical trends.
Trump Suspends PERM Programme Affecting Indian IT Talent Retention
The Trump administration has moved to suspend the PERM programme, which impacts Indian IT major companies. Industry analysts warn that a prolonged suspension could complicate talent management for these firms. However, this move might accelerate the shift towards offshore delivery and the development of alternative technology hubs, which could benefit India in the long run.
Source The Hindu
Practice MCQs
Q1 What is the main concern raised by the suspension of the PERM programme for Indian IT majors?
- AComplications in talent managementCorrect
- BIncrease in domestic hiring in the US
- CReduction in offshore delivery
- DDecline in technology innovation
Explanation The suspension could complicate talent management for Indian IT companies, as stated by industry analysts.
Q2 According to industry analysts, what could be a positive outcome of the PERM programme suspension?
- AAcceleration of offshore delivery and alternative technology hubs benefiting IndiaCorrect
- BIncrease in US-based IT jobs for Indian workers
- CExpansion of the PERM programme
- DReduction in Indian IT exports
Explanation Analysts suggest the suspension could accelerate offshore delivery and alternative technology hubs, benefiting India.
Tiruppur to Host Domestic Garment Exhibition in January
Tiruppur, known for its garment production, will hold a domestic garment exhibition in January. The city produces T-shirts, innerwear, and apparel worth over ₹40,000 crore annually for the Indian market. Several leading brands source their garments from Tiruppur, highlighting its significance in the domestic garment industry.
Source The Hindu
Practice MCQs
Q1 When is the Tiruppur domestic garment exhibition scheduled to be held?
- AOctober
- BDecember
- CJanuaryCorrect
- DMarch
Explanation The exhibition is scheduled to be held in January as per the source.
Q2 What is the approximate annual value of garments produced by Tiruppur for the Indian market?
- A₹10,000 crore
- B₹25,000 crore
- C₹40,000 croreCorrect
- D₹60,000 crore
Explanation Tiruppur produces garments worth over ₹40,000 crore annually for the Indian market.
Q3 Which types of garments are prominently produced in Tiruppur for the domestic market?
- ASarees and lehengas
- BT-shirts and innerwearCorrect
- CJeans and jackets
- DFormal suits and ties
Explanation Tiruppur produces T-shirts, innerwear, and apparel for the domestic market.
German Machinery Exports to India Rise 11% Amid EU-India FTA Prospects
German machinery exports to India have increased by 11%, driven by firms seeking alternatives beyond China. The proposed Free Trade Agreement (FTA) between India and the European Union is expected to offer significant tariff reductions in the mechanical and plant engineering sector, which could further strengthen trade and investment ties between the two regions.
Source The Hindu
Practice MCQs
Q1 By what percentage did German machinery exports to India rise recently?
- A5%
- B11%Correct
- C20%
- D15%
Explanation German machinery exports to India rose by 11% as firms looked beyond China.
Q2 What sector is expected to benefit from tariff reductions under the proposed India-EU FTA?
- ATextile and Apparel
- BMechanical and Plant EngineeringCorrect
- CPharmaceuticals
- DAutomobile Manufacturing
Explanation The proposed FTA offers prospects for significant tariff reductions in the mechanical and plant engineering sector.
Q3 What is a key reason for the rise in German machinery exports to India?
- AIndia's increased demand for textiles
- BFirms looking beyond ChinaCorrect
- CReduction in Indian tariffs on electronics
- DGrowth in Indian automobile production
Explanation Firms are looking beyond China, leading to an increase in German machinery exports to India.
Banking
Punjab National Bank Plans Debut $500 Million Dollar Bond Issue
Punjab National Bank (PNB) aims to raise at least $500 million by issuing a 5-year dollar bond. This marks the bank's debut in the international bond market, as it seeks to diversify its funding sources and strengthen its capital base.
Source BusinessLine
Practice MCQs
Q1 What is the amount Punjab National Bank aims to raise through its debut dollar bond issue?
- A$500 millionCorrect
- B$1 billion
- C$250 million
- D$750 million
Explanation Punjab National Bank aims to raise at least $500 million through its debut dollar bond issue.
Q2 What is the tenure of the dollar bond Punjab National Bank plans to issue?
- A3 years
- B5 yearsCorrect
- C7 years
- D10 years
Explanation Punjab National Bank plans to issue a 5-year dollar bond.
International
US Imposes Sanctions on Two Mumbai Firms and Five Indians Over Iran Oil Trade
The United States has imposed sanctions on two Mumbai-based firms and five Indian nationals as part of its crackdown on Iran's oil trade. This action is under the US initiative called Operation Economic Outcast, aimed at curbing Iran's economic activities related to oil exports.
Source The Hindu
Practice MCQs
Q1 What is the reason behind the US sanctions on two Mumbai-based firms and five Indian nationals?
- ATheir involvement in Iran oil tradeCorrect
- BViolation of US immigration laws
- CEngagement in cybercrime activities
- DIllegal arms trading
Explanation The sanctions were imposed due to the firms' and individuals' involvement in Iran oil trade.
Q2 Under which US operation were the sanctions on Indian entities related to Iran oil trade imposed?
- AOperation Economic OutcastCorrect
- BOperation Desert Storm
- COperation Neptune Spear
- DOperation Enduring Freedom
Explanation The sanctions are part of the US crackdown under Operation Economic Outcast.
Government Schemes
NIMHANS launches online course to train faculty as student well-being ambassadors
NIMHANS Bengaluru has launched an online course aimed at training faculty members to become student well-being ambassadors. This initiative is part of the efforts to implement Karnataka's student mental health policy for higher education institutions. The course is designed to equip faculty with the skills and knowledge to support student mental health and well-being effectively.
Source The Hindu
Practice MCQs
Q1 What is the purpose of the online course launched by NIMHANS Bengaluru?
- ATo train faculty as student well-being ambassadorsCorrect
- BTo provide medical training to students
- CTo promote research in neuroscience
- DTo offer language learning skills
Explanation The online course launched by NIMHANS Bengaluru is designed to train faculty members as student well-being ambassadors.
Q2 The NIMHANS online course initiative is part of implementing which policy?
- AKarnataka’s student mental health policy for higher educationCorrect
- BNational Education Policy
- CKarnataka’s digital education policy
- DNational Mental Health Policy
Explanation The initiative is among the steps towards implementing Karnataka’s student mental health policy for higher education.
Q3 Which city is associated with the launch of the online course by NIMHANS?
- ABengaluruCorrect
- BChennai
- CMumbai
- DHyderabad
Explanation NIMHANS Bengaluru launched the online course to train faculty as student well-being ambassadors.
Science & Tech
IIIT-H Study Warns Against Full Reliance on AI for Medical Diagnosis
A study by researchers at IIIT-Hyderabad has found discrepancies between the chest X-ray regions highlighted by vision-language AI models and those identified by radiologists. The study cautions doctors against relying entirely on AI for medical diagnosis, emphasizing the need for human oversight in interpreting AI outputs to ensure accurate medical assessments.
Source The Hindu
Practice MCQs
Q1 What did the IIIT-H study find regarding AI and medical diagnosis?
- ADiscrepancies between AI-highlighted chest X-ray regions and radiologists' findingsCorrect
- BAI models perfectly matched radiologists in diagnosing chest X-rays
- CAI completely replaced the need for radiologists
- DAI was found unreliable for all types of medical imaging
Explanation The study found discrepancies between the chest X-ray regions highlighted by AI models and those identified by radiologists.
Q2 What caution did the IIIT-H study give to doctors regarding AI in medical diagnosis?
- ATo rely entirely on AI for faster diagnosis
- BTo avoid using AI in any medical diagnosis
- CTo not rely entirely on AI and maintain human oversightCorrect
- DTo replace radiologists with AI systems
Explanation The study cautioned doctors against relying entirely on AI and emphasized the need for human oversight.
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