Daily Current Affairs 12 October 2026

Q1 Who was appointed as the secretary of the inquiry committee into MPSC recruitment irregularities?

• AVivek Bhimanwar
• BTukaram MundheCorrect
• CIAS officer Rajesh Kumar
• DMPSC Chairman

Explanation IAS officer Tukaram Mundhe was appointed as the secretary of the inquiry committee investigating MPSC recruitment irregularities.

Q2 What action did MPSC Chairman Vivek Bhimanwar take following the appointment of the inquiry committee secretary?

• AResigned from his post
• BWent on leave until the inquiry was completedCorrect
• CDismissed the protestors
• DIncreased recruitment

Explanation MPSC Chairman Vivek Bhimanwar proceeded on leave until the inquiry was completed.

Q3 What was the duration of the MPSC aspirants' protest that ended after the inquiry panel was formed?

• A5 days
• B10 daysCorrect
• C15 days
• D20 days

Explanation The MPSC aspirants' protest lasted for 10 days before it was called off.

Q1 What was the Supreme Court's stance on the new Form 6 during the Bihar SIR hearing?

• AIt neither approved nor disapproved the new Form 6Correct
• BIt fully approved the new Form 6
• CIt rejected the new Form 6
• DIt ordered immediate implementation of the new Form 6

Explanation The Supreme Court clarified that it had not adjudicated on the new Form 6 and neither approved nor disapproved it during the Bihar SIR hearing.

Q2 What new requirement was introduced in the modified Form 6 in July 2026?

• AApplicants must provide ancestry details or linkage to previous SIR rollsCorrect
• BApplicants must submit biometric data
• CApplicants must provide income certificates
• DApplicants must submit caste certificates

Explanation The changes in the new Form 6 required applicants to provide ancestry details or linkage to previous SIR rolls on the ECINet portal.

Q1 Which entities will benefit from the RBI's special window to meet daily dollar requirements?

• AIndian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, Bharat Petroleum Corporation LimitedCorrect
• BState Bank of India, Punjab National Bank, Bank of Baroda
• CReliance Industries, Tata Group, Adani Group
• DOil and Natural Gas Corporation, Coal India, Steel Authority of India

Explanation The RBI's special window is specifically for the three public sector oil marketing companies: Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, and Bharat Petroleum Corporation Limited.

Q2 When did the RBI's special window for PSU oil firms come into effect?

• AOctober 12, 2026Correct
• BOctober 10, 2026
• CNovember 1, 2026
• DSeptember 30, 2026

Explanation The facility was announced to come into effect from October 12, 2026.

Q3 What is the primary reason for RBI opening the special dollar window for PSU oil firms?

• ATo meet the entire daily dollar requirements amid rising oil pricesCorrect
• BTo provide loans for infrastructure development
• CTo support export promotion schemes
• DTo regulate domestic fuel prices

Explanation The RBI opened the special window to meet the entire daily dollar requirements of PSU oil firms due to rising oil prices.

Q1 For what contribution were Robert E. Hall and Michael Woodford awarded the 2026 Nobel Prize in Economics?

• AMicroeconomic foundations of macroeconomic stabilizationCorrect
• BDevelopment of new financial instruments
• CAdvancements in behavioral economics
• DInnovations in international trade theory

Explanation They were awarded for their work on the microeconomic foundations of macroeconomic stabilization.

Q2 What is the approximate monetary value of the 2026 Nobel Prize in Economics awarded to Hall and Woodford?

• A12 million Swedish crownsCorrect
• B1.2 million Indian Rupees
• C10 million US dollars
• D5 million Euros

Explanation The prize is worth 12 million Swedish crowns, about $1.2 million.

Q3 What practical application does the research of Hall and Woodford support?

• AEconomic models used worldwide to respond to disruptions and stabilize economic activityCorrect
• BNew taxation policies for developing countries
• CTechnological innovations in banking
• DClimate change economic impact assessments

Explanation Their research provides a theoretical foundation for economic models used globally to respond to disruptions and stabilize economic activity.

Q1 What is the reference period for the 51st round of the Services and Infrastructure Outlook Survey (SIOS) launched by RBI?

• AJuly-September 2026
• BOctober-December 2026Correct
• CJanuary-March 2027
• DApril-June 2027

Explanation The 51st round of SIOS covers the quarter October-December 2026 (Q3:2026-27) as per the RBI press release.

Q2 Which sectors are covered by the Industrial Outlook Survey (IOS) launched by RBI for Q3:2026-27?

• AServices and infrastructure sectors
• BManufacturing sectorCorrect
• CAgriculture sector
• DBanking sector

Explanation The 116th round of IOS assesses business sentiments in the Indian manufacturing sector for Q3:2026-27.

Q3 What key parameters do RBI's quarterly outlook surveys assess?

• ADemand, financial, employment, and price conditionsCorrect
• BExports, imports, inflation, and GDP growth
• CFiscal deficit, monetary policy, and foreign exchange reserves
• DInterest rates, stock market trends, and government schemes

Explanation Both SIOS and IOS surveys assess qualitative responses on demand conditions, financial conditions, employment conditions, and price situation.

Q1 What was India's retail inflation rate in September as reported?

• A4%
• B5.54%Correct
• C6.2%
• D3.8%

Explanation India's retail inflation climbed to 5.54% in September, as stated in the source.

Q2 For how many consecutive months did India's inflation remain above the RBI's 4% target?

• ATwo months
• BThree months
• CFour monthsCorrect
• DFive months

Explanation Inflation breached RBI's 4% target for the fourth successive month.

Q3 Which factors primarily drove the rise in India's retail inflation in September?

• ARising food prices and commodity costsCorrect
• BDecline in oil prices
• CIncrease in exports
• DGovernment subsidies

Explanation The inflation rise was driven by food prices and rising commodity costs.

Q1 What was the retail inflation rate in India in September 2026?

• A5.54%Correct
• B4.83%
• C6.00%
• D5.00%

Explanation India's retail inflation rose to 5.54% in September 2026 as per government data.

Q2 What was the main factor driving the rise in India's retail inflation in September 2026?

• AHigher food pricesCorrect
• BIncreased fuel prices
• CRising housing costs
• DHigher transportation costs

Explanation The increase in retail inflation was mainly due to higher food prices.

Q3 How did India's retail inflation in September 2026 compare to August 2026?

• AIt increased from 4.83% to 5.54%Correct
• BIt decreased from 5.54% to 4.83%
• CIt remained the same at 5.54%
• DIt remained the same at 4.83%

Explanation Retail inflation rose from 4.83% in August 2026 to 5.54% in September 2026.

Q1 What action did North Korea take after warning Seoul about territorial violations?

• AFired multiple ballistic missiles off its east coastCorrect
• BConducted a diplomatic meeting with South Korea
• CLaunched a cyberattack on Seoul
• DImposed economic sanctions on South Korea

Explanation North Korea fired multiple ballistic missiles off its east coast following its warning to Seoul about retaliation if its territory was violated.

Q2 What is the main purpose behind North Korea's recent increase in weapons testing?

• ATo expand its arsenal of nuclear-capable systemsCorrect
• BTo improve its conventional military forces
• CTo develop space exploration technology
• DTo strengthen economic ties with neighboring countries

Explanation North Korea has been ramping up weapons testing as it seeks to expand its arsenal of nuclear-capable systems.

Q1 Which airport was attacked on October 10, 2026, leading to multiple casualties?

• AKing Khalid International AirportCorrect
• BIndira Gandhi International Airport
• CDubai International Airport
• DHamad International Airport

Explanation The attack occurred at King Khalid International Airport in Riyadh.

Q2 Who did Saudi Arabia blame for the attack on King Khalid International Airport?

• AHouthi militantsCorrect
• BAl-Qaeda
• CISIS
• DTaliban

Explanation Saudi Arabia blamed Houthi militants for the attack.

Q3 How did the Indian Ministry of External Affairs describe the attack on Riyadh airport?

• ACompletely unacceptableCorrect
• BJustified
• CUnavoidable
• DMinor incident

Explanation The Ministry of External Affairs called the attack 'completely unacceptable.'

Q1 Who won the Nobel Peace Prize in 2026?

• ANavanethem PillayCorrect
• BAnnamalai
• CMalala Yousafzai
• DKailash Satyarthi

Explanation Navanethem 'Navi' Pillay, a South African judge of Indian origin, won the Nobel Peace Prize in 2026.

Q2 Which Indian-origin South African judge was awarded the Nobel Peace Prize in 2026?

• ANavanethem PillayCorrect
• BAnnamalai
• CRaghuram Rajan
• DArundhati Roy

Explanation Navanethem Pillay, a South African judge of Indian origin, was the 2026 Nobel Peace Prize winner.

Q3 Who praised Navanethem Pillay's Nobel Peace Prize win from Tamil Nadu?

• AAnnamalaiCorrect
• BM.K. Stalin
• CJ. Jayalalithaa
• DK. Kamaraj

Explanation Tamil Nadu political leader Annamalai hailed Navanethem Pillay's Nobel Peace Prize win.

Q1 Which shipyard built the INS Mangrol, the third anti-submarine warfare shallow water craft inducted into the Indian Navy?

• ACochin Shipyard LimitedCorrect
• BMazagon Dock Shipbuilders
• CGarden Reach Shipbuilders
• DHindustan Shipyard Limited

Explanation INS Mangrol was built by Cochin Shipyard Limited in Kochi.

Q2 What percentage of indigenous content does INS Mangrol have?

• AOver 80%Correct
• B50%
• C70%
• D100%

Explanation INS Mangrol was built with over 80% indigenous content.

Q3 INS Mangrol is designed to operate alongside which of the following to detect and counter submarine threats?

• AMaritime patrol aircraft, helicopters, and other warshipsCorrect
• BOnly submarines
• CCargo ships and fishing vessels
• DCommercial aircraft

Explanation INS Mangrol can operate alongside maritime patrol aircraft, helicopters, and other warships to detect and counter submarine threats.

Q1 What was the main objective of the RBI's 2026 amendments to prudential norms for banking institutions?

• ATo align the norms with international standardsCorrect
• BTo increase the minimum capital requirements arbitrarily
• CTo reduce the legal opinion requirements for all banks
• DTo introduce new banking products

Explanation The amendments were made to align the prudential norms and instructions with international standards, as stated in the RBI notifications.

Q2 Under which legal provision did the RBI exercise its powers to issue the 2026 amendments to banking directions?

• ASection 35A of the Banking Regulation Act, 1949Correct
• BSection 45 of the Reserve Bank of India Act, 1934
• CSection 10 of the Companies Act, 2013
• DSection 12 of the Banking Companies Act, 1949

Explanation The RBI issued the amendments under the powers conferred by Section 35A of the Banking Regulation Act, 1949.

Q3 Which banking institutions were covered by the RBI's 2026 amendment directions?

• AAll India Financial Institutions, Payments Banks, and Commercial BanksCorrect
• BOnly Payments Banks
• COnly Commercial Banks
• DCooperative Banks and Regional Rural Banks

Explanation The amendments covered All India Financial Institutions, Payments Banks, and Commercial Banks as per the RBI notifications.

Q1 What is the main focus of the RBI Directions issued on October 7, 2026?

• ACredit Valuation Adjustment (CVA) Framework for commercial banksCorrect
• BNew guidelines for agricultural loans
• CMonetary policy rate revision
• DDigital payment security protocols

Explanation The RBI Directions issued on October 7, 2026, focus on the Credit Valuation Adjustment (CVA) Framework applicable to commercial banks.

Q2 Which approach is included in the RBI's CVA risk capital charge framework?

• ABasic Approach (BA-CVA)Correct
• BLiquidity Coverage Ratio
• CPriority Sector Lending
• DCapital Adequacy Ratio

Explanation The RBI Directions include the Basic Approach (BA-CVA) as part of the CVA risk capital charge framework.

Q3 When did the RBI's Commercial Banks – Credit Valuation Adjustment Framework Directions come into effect?

• AOctober 7, 2026Correct
• BJanuary 1, 2026
• CDecember 31, 2025
• DMarch 31, 2027

Explanation The RBI issued the CVA Framework Directions on October 7, 2026, marking their commencement.

Q1 What new requirement did the RBI introduce for authorised dealers handling foreign exchange derivative contracts involving INR in 2026?

• AMaintaining a Foreign Exchange Risk Reserve (FERR)Correct
• BIncreasing the minimum capital adequacy ratio
• CMandatory daily reporting of all forex transactions
• DProhibition on all foreign exchange derivative contracts

Explanation The RBI mandated authorised dealers to maintain a Foreign Exchange Risk Reserve (FERR) for foreign exchange derivative contracts involving INR.

Q2 What restriction did the RBI place on foreign exchange derivative contracts involving INR as per the 2026 circular?

• ANo rebooking or rollovers permitted
• BNo cancellation or rebooking/rollovers permittedCorrect
• COnly cancellation allowed without rebooking
• DUnlimited rebooking allowed without restrictions

Explanation The RBI decided that authorised dealers shall not permit users to cancel and rebook or rollover foreign exchange derivative contracts involving INR.

Q1 What restriction did the RBI impose on foreign exchange derivative contracts in its recent circulars?

• AUsers cannot rebook any cancelled foreign exchange derivative contract involving INRCorrect
• BUsers can rebook cancelled foreign exchange derivative contracts without restrictions
• COnly non-INR derivative contracts are restricted from rebooking
• DRebooking is allowed only for deliverable contracts

Explanation RBI's circulars prohibit Authorised Dealers from permitting users to rebook any foreign exchange derivative contract involving INR that has been cancelled.

Q2 Which documents announced the RBI's new regulatory measures for the foreign exchange market?

• AA.P. (DIR Series) Circular No. 25 and No. 26Correct
• BForeign Exchange Management Act 1999
• CRBI Monetary Policy Statement
• DForeign Exchange Regulation Act

Explanation The RBI issued A.P. (DIR Series) Circular No. 25 and No. 26 to announce the new regulatory measures.

Q1 What is the new minimum daily Cash Reserve Ratio (CRR) maintenance requirement for scheduled banks as per RBI's October 2026 notification?

• AAt least 90 percent of the prescribed CRR on all daysCorrect
• BExactly 100 percent of the prescribed CRR on all days
• CAt least 75 percent of the prescribed CRR on all days
• DNo minimum daily CRR maintenance required

Explanation The RBI notification states that scheduled banks must maintain a minimum of 90 percent of the prescribed CRR on all days during the reporting fortnight.

Q2 Under which section of the Reserve Bank of India Act, 1934 was the change in daily minimum CRR maintenance requirement notified?

• ASection 42(1)Correct
• BSection 45(2)
• CSection 17(3)
• DSection 35A

Explanation The notification was issued under Section 42(1) of the Reserve Bank of India Act, 1934.

Q3 What was the reason cited by RBI for increasing the minimum daily CRR maintenance requirement?

• AReview of current liquidity conditionsCorrect
• BTo reduce inflation
• CTo promote credit growth
• DTo increase foreign investment

Explanation The RBI increased the minimum daily CRR requirement following a review of current liquidity conditions.

Q1 What is the primary reason the Centre has asked states to ensure hospitals prominently display healthcare service prices?

• ATo enable patients to take informed decisionsCorrect
• BTo increase hospital revenues
• CTo promote medical tourism only
• DTo reduce the number of hospitals

Explanation The Centre stated that clearly visible display of prices will enable patients to take informed decisions, build trust, and prevent billing-related disputes.

Q2 Which official called for a comprehensive review of compliance with statutory provisions regarding price display in hospitals?

• AUnion Health Secretary Punya Salila SrivastavaCorrect
• BUnion Health Minister
• CPrime Minister of India
• DDirector General of Health Services

Explanation Union health secretary Punya Salila Srivastava called for a comprehensive review of compliance with applicable statutory provisions.

Q3 Apart from domestic patients, which group is specifically mentioned as needing package rates displayed by clinical establishments?

• AInternational patients visiting India on medical and Ayush visasCorrect
• BSenior citizens
• CChildren under 12 years
• DGovernment employees

Explanation The Health Ministry urged clinical establishments to display package rates for international patients visiting India on medical and Ayush visas.

Q1 When did passenger services for Chennai Metro Rail Phase II start?

• AOctober 11, 2026 from 4 p.m.Correct
• BOctober 10, 2026 from 10 a.m.
• COctober 12, 2026 from 6 p.m.
• DOctober 15, 2026 from 9 a.m.

Explanation Passenger services started on October 11, 2026 from 4 p.m. as per the official launch.

Q2 Between which two stations will the initial 15 trains of Chennai Metro Rail Phase II run?

• APoonamallee and VadapalaniCorrect
• BPorur and Poonamallee
• CVadapalani and Porur
• DPoonamallee and Porur

Explanation The initial 15 trains will run between Poonamallee and Vadapalani.

Q3 Who shared the inaugural ride of the Chennai Metro Rail Phase II first train?

• APM Narendra Modi and Tamil Nadu CM VijayCorrect
• BPM Narendra Modi and Tamil Nadu Governor
• CTamil Nadu CM Vijay and Chennai Mayor
• DPM Narendra Modi and Union Minister

Explanation PM Narendra Modi and Tamil Nadu CM Vijay shared the inaugural ride together.