Current Affairs 03 October 2026 for Banking & Insurance Exams

Updated: 03 October 2026
By: TestCloud Expert Team

Read comprehensive daily current affairs for competitive exams covering national, international, banking, and sports events.

Cabinet approves MSP for Rabi crops for 2027-28 season.

Dated: 03 October 2026
The Cabinet Committee on Economic Affairs approved higher Minimum Support Prices for all mandated Rabi crops for the 2027-28 marketing season on September 30, 2026.

Key Highlights:
1.  Safflower received the largest increase of Rs.675 per quintal, followed by mustard at Rs.413 and lentil at Rs.390.
2.  Approved rates are wheat Rs.2,610, barley Rs.2,286 and gram Rs.5,958 per quintal.
3.  Lentil was fixed at Rs.7,390, mustard at Rs.6,613 and safflower at Rs.7,215 per quintal.
4.  Prices provide at least 1.5 times the weighted average production cost.
5.  Estimated margins are highest for wheat at 106%, followed by mustard at 96% and lentil at 92%.

Additional Information:
1.  CACP recommends MSP and CCEA gives final approval.
2.  CACP was established in 1965 and is attached to the Agriculture Ministry.

National Coastal Mission 2.0 guidelines launched with Rs.767 crore.

Dated: 03 October 2026
Bhupender Yadav launched implementation guidelines for National Coastal Mission 2.0 in New Delhi on September 30, 2026.

Key Highlights:
1.  The Central Sector Scheme has an approved budget of Rs.767 crore.
2.  Implementation continues through financial year 2030-31.
3.  It covers nine coastal States and four Union Territories.
4.  Objectives include vulnerability assessment, ecosystem restoration and coastal resilience.
5.  The mission also addresses pollution, biodiversity, sustainable tourism and Blue Economy development.

Additional Information:
1.  The Environment Ministry is headquartered at Indira Paryavaran Bhawan in New Delhi.
2.  Blue Economy means sustainable use of ocean resources for economic growth.

CCEA approves Rs.1,789.52 crore intelligent traffic project for Delhi.

Dated: 03 October 2026
The Cabinet Committee on Economic Affairs approved Delhi’s Intelligent Traffic Management System on September 30, 2026, at an estimated Rs.1,789.52 crore.

Key Highlights:
1.  Delhi Police will execute the project through a competitively selected Master System Integrator.
2.  Implementation will occur in three phases over 24 months, followed by five years of operation and maintenance.
3.  C-DAC will act as Project Management Consultant.
4.  The system covers 42 corridors, 1,092 adaptive signals and 1,029 enforcement locations.
5.  Artificial Intelligence will manage signals, detect violations, create ambulance green corridors and identify stolen or blacklisted vehicles.

Additional Information:
1.  Delhi Police works under the Home Ministry and was established in 1861.
2.  C-DAC developed PARAM 8000 in 1991 and is headquartered in Pune.

Second ASEAN-India Maritime Exercise begins in Subic Bay.

Dated: 03 October 2026
The second ASEAN-India Maritime Exercise, AIME-2026, began at Subic Bay in the Philippines on September 28, 2026.

Key Highlights:
1.  INS Sahyadri and INS Kulish represent the Indian Navy in the exercise.
2.  Its theme is Anchored in Trust, United at Sea.
3.  The harbour phase covers expert exchanges, operational coordination and community engagement.
4.  The sea phase includes coordinated drills and practical training for greater interoperability.
5.  It advances India’s Act East Policy and the MAHASAGAR vision.

Additional Information:
1.  ASEAN was established through the Bangkok Declaration on August 8, 1967, and has 10 members.
2.  INS Sahyadri is a Shivalik-class frigate, while INS Kulish is a Kora-class missile corvette.

Textiles Ministry extends RoSCTL scheme till December 31, 2026.

Dated: 03 October 2026
The Textiles Ministry extended RoSCTL support for apparel, garments and made-up exports from October 1 through December 31, 2026.

Key Highlights:
1.  The three-month extension retains existing rates and guidelines.
2.  It rebates eligible embedded State and Central taxes not refunded elsewhere.
3.  Zero-rating of exports improves the global competitiveness of labour-intensive apparel products.
4.  In 2025-26, more than 15,400 exporters across over 444 districts benefited.
5.  Most beneficiaries are micro, small and medium enterprises.

Additional Information:
1.  RoSCTL means Rebate of State and Central Taxes and Levies.
2.  It began on March 7, 2019, and replaced the Rebate of State Levies scheme.

CCI approves BNP Paribas Cardif stake in IndiaFirst Life.

Dated: 03 October 2026
The Competition Commission of India approved BNP Paribas Cardif’s acquisition of equity in IndiaFirst Life Insurance on September 30, 2026.

Key Highlights:
1.  BNP Paribas Cardif is a French company wholly owned by BNP Paribas SA.
2.  IndiaFirst Life is an IRDAI-licensed life insurer operating in India.
3.  Competition clearance found no adverse effect on insurance-sector competition.
4.  CCI is a statutory body established under the Competition Act 2002.
5.  It prevents practices that harm competition and is headquartered in New Delhi.

Additional Information:
1.  IRDAI was formed under the IRDA Act 1999 and is headquartered in Hyderabad.
2.  BNP Paribas was formed in 2000 by merging Banque Nationale de Paris and Paribas.

Jharkhand’s Gumla Mandar receives GI tag.

Dated: 03 October 2026
The traditional Mandar percussion instrument from Gumla, Jharkhand, received a Geographical Indication tag on September 29, 2026.

Key Highlights:
1.  The GI Registry in Chennai granted the recognition.
2.  Raidih Mandar Producer Company of Jarjatta village led the artisan application.
3.  Local red soil and indigenous materials are used in traditional production.
4.  Unlike dhol or dholak, one side is made entirely from processed soil.
5.  Its resonance is closely tied to tribal music, festivals and community gatherings.

Additional Information:
1.  Mandar is central to festivals such as Sarhul and is called the heartbeat of Jharkhandi music.
2.  GI protection operates under the Geographical Indications of Goods Act 1999.

Uttarakhand installs first glacial-lake early-warning system.

Dated: 03 October 2026
Uttarakhand launched its first real-time glacial-lake early-warning system at Vasundhara Tal in Chamoli on September 29, 2026.

Key Highlights:
1.  CBRI Roorkee and Wadia Institute scientists installed it with support from ITBP, NDRF and SDRF.
2.  NDMA identifies 13 high-risk lakes in Uttarakhand, including five Category A lakes such as Vasundhara Tal.
3.  National Remote Sensing Centre identified 344 glacial lakes in the state in 2023.
4.  Sensors track water level, flow, snow depth, underground temperature and movement.
5.  A weather station measures rainfall, humidity, wind and pressure; solar power, satellite data and low-orbit communication support remote operation.

Additional Information:
1.  Wadia Institute was established in 1968 and is headquartered in Dehradun.
2.  NDMA was created under the Disaster Management Act 2005 and is chaired by the Prime Minister.

UN adopts first declaration on sea-level rise and statehood.

Dated: 03 October 2026
The United Nations General Assembly adopted its first declaration on sea-level rise during a high-level meeting at its 81st session in New York.

Key Highlights:
1.  The declaration says island states do not automatically lose sovereignty or legal status if territory is submerged.
2.  Established maritime zones under UNCLOS remain stable despite changing coastlines.
3.  Global mean sea level rose by 5.9 millimetres in 2024 to a record high.
4.  About 770 million people live less than five metres above the high-tide line.
5.  It calls for multi-hazard warnings, climate-risk assessments and restoration of mangroves, kelp and seagrass.

Additional Information:
1.  UNCLOS was adopted in 1982 and is called the Constitution of the Oceans.
2.  AOSIS was established in 1990 to represent low-lying and small island states.

India wins women’s 4x400m relay gold at Asian Games.

Dated: 03 October 2026
India won its first athletics gold of the Aichi-Nagoya Asian Games in the women’s 4x400-metre relay on September 29, 2026.

Key Highlights:
1.  Vithya Ramraj, Kiran Pahal, Prachi and M. R. Poovamma formed the winning quartet.
2.  Neeru Dhanda became the first Indian woman to win individual Asian Games trap-shooting gold.
3.  Gulveer Singh won 5,000-metre bronze in 13:32.75, his third medal of the Games.
4.  Pooja Singh took women’s high-jump bronze; India also won mixed 4x100-metre and men’s 4x400-metre bronze.
5.  Dev Kumar Meena set a national pole-vault record of 5.50 metres.

Additional Information:
1.  The first Asian Games took place in New Delhi in 1951 and the OCA organises them.
2.  M. R. Poovamma received the Arjuna Award in 2015.

Over Rs.1,200 crore sanctioned to 10 states under PM-RKVY.

Dated: 03 October 2026
Agriculture Minister Shivraj Singh Chouhan sanctioned over Rs.1,200 crore to 10 states under PM-RKVY on September 29, 2026.

Key Highlights:
1.  West Bengal received the highest allocation of Rs.290 crore.
2.  Haryana received Rs.198 crore, Chhattisgarh Rs.181 crore and Arunachal Pradesh Rs.154 crore.
3.  Other allocations went to Bihar, Karnataka, Mizoram, Himachal Pradesh, Jharkhand and Punjab.
4.  The agriculture growth rate rose from 3% in 2015 to 4.5%.
5.  The Khet Bachao campaign will run nationwide from October 22 to November 30; Tur, Urad and Masoor receive full MSP procurement with payment within 48 hours.

Additional Information:
1.  PM-RKVY began in 2007 as an umbrella agriculture scheme supporting decentralised state planning.
2.  The Soil Health Card Scheme was launched at Suratgarh in 2015.

Cabinet approves Rs.1.86 lakh crore PM-DHARA transmission scheme.

Dated: 03 October 2026
The Union Cabinet approved PM-DHARA on September 30, 2026, to strengthen intra-state renewable-energy transmission systems.

Key Highlights:
1.  The Rs.1,86,405 crore scheme is targeted for completion by financial year 2032-33.
2.  Green Energy Corridor Phase III receives Rs.1,36,378 crore and battery storage Rs.50,000 crore for 50 GWh.
3.  Central Financial Assistance totals Rs.54,082 crore.
4.  The network will evacuate 135 GW renewable power and deploy 50 GWh battery capacity.
5.  Greenfield projects use competitive bidding and the Build-Own-Operate-Maintain model; brownfield upgrades use cost-plus basis.

Additional Information:
1.  PM-DHARA means PM-Developing Harmonized and Accelerated Renewable-energy Access.
2.  India targets 500 GW non-fossil capacity by 2030, 900 GW by 2035 and net zero by 2070.

UIDAI launches five initiatives at Aadhaar Samvaad Kolkata.

Dated: 03 October 2026
UIDAI launched five digital initiatives at Aadhaar Samvaad in Kolkata on September 29, 2026, marking the 17th Aadhaar Day.

Key Highlights:
1.  Face Authentication for ePDS was developed with the Food Department and NIC for beneficiaries facing fingerprint difficulty.
2.  SWIK Portal 2.0 streamlines Aadhaar-authentication approval for non-government entities.
3.  A Token Management System manages visits and services at UIDAI offices.
4.  The Sub-AUA and Sub-KUA LITE framework enables low-volume entities to use existing authentication infrastructure.
5.  The revamped website uses BHASHINI for 13 languages, targets 23, adds careers and accessibility features.

Additional Information:
1.  UIDAI is a statutory authority under the Aadhaar Act 2016 and the Electronics Ministry.
2.  The first Aadhaar was issued in September 2010.

India and Qatar advance BIT, FTA and $10 billion investment.

Dated: 03 October 2026
India and Qatar agreed on September 30, 2026, to accelerate investment-treaty and free-trade talks during the AIIB annual meeting in Doha.

Key Highlights:
1.  The countries advanced Qatar’s $10 billion investment commitment to India.
2.  A Qatar Investment Authority office is planned in India to support bilateral capital flows.
3.  Qatari investment targets Indian ports, airports, highways and power projects.
4.  Indian firms see opportunities in Qatar’s food security, pharmaceuticals and petrochemicals.
5.  Education, healthcare and start-ups are also priority cooperation sectors.

Additional Information:
1.  QIA is Qatar’s sovereign wealth fund established in 2005 to manage energy surpluses.
2.  AIIB began operations in January 2016 in Beijing; India is its second-largest shareholder.

Sree Charani sets record ICC Women’s T20I bowling rating.

Dated: 03 October 2026
Indian left-arm spinner Sree Charani reached a record 817 points in the ICC Women’s T20I bowling rankings on September 22, 2026.

Key Highlights:
1.  She surpassed Megan Schutt’s previous all-time high of 806 points from November 2018.
2.  Charani took 12 wickets during the Women’s Asia Cup.
3.  Her 4 for 20 in the final helped India beat Sri Lanka by 72 runs.
4.  At the Asian Games in Japan she took career-best 4 for 10 against the host.
5.  India defeated Sri Lanka by 147 runs in the gold-medal match on September 22.

Additional Information:
1.  ICC was founded in 1909 and is headquartered in Dubai.
2.  The Women’s Asia Cup began in Sri Lanka in 2004; India has won a record eight titles.

PRAGATI-50 initiative launched for model clean cities.

Dated: 03 October 2026
Union Minister Manohar Lal launched PRAGATI-50 on September 29, 2026, to develop 50 model clean cities across 24 states.

Key Highlights:
1.  The initiative operates under Swachh Bharat Mission-Urban 2.0.
2.  Cities include economic centres, major tourist destinations and culturally important locations.
3.  Plans cover solid-waste management, used-water management and sanitation.
4.  Each city will implement Key Performance Indicator-based action plans.
5.  Technology-enabled outcome monitoring and ministerial reviews every two months will track progress.

Additional Information:
1.  Swachh Bharat Mission-Urban began on October 2, 2014.
2.  SBM-U 2.0 launched on October 1, 2021, to make cities garbage free.

Kaveri engine clears key tests for Ghatak stealth UCAV.

Dated: 03 October 2026
The indigenous Kaveri dry engine completed high-altitude and flight trials in Russia on September 30, 2026, for future unmanned-aircraft use.

Key Highlights:
1.  It produced peak dry thrust of 48.5 kilonewtons against a 46-kilonewton design target.
2.  The engine is intended for the Ghatak stealth Unmanned Combat Aerial Vehicle.
3.  Tests occurred at Russia’s Central Institute of Aviation Motors and Gromov Flight Research Institute.
4.  A modified Ilyushin Il-76 flying testbed replaced one standard engine with Kaveri.
5.  The non-afterburning engine uses Full Authority Digital Engine Control and was developed by DRDO’s GTRE.

Additional Information:
1.  The Kaveri project began in 1986 for Tejas but shifted to unmanned use after missing the 81-kilonewton requirement.
2.  GTRE is a DRDO laboratory headquartered in Bengaluru.

50 million Indian children lack school sanitation services.

Dated: 03 October 2026
A WHO-UNICEF report identified India as having 50 million children without school sanitation services in 2025, the highest national total.

Key Highlights:
1.  India accounts for nearly one-fifth of the 244 million affected children worldwide.
2.  Nigeria has 34 million, Ethiopia 26 million, DRC 11 million and Indonesia 8 million.
3.  India reduced schools without sanitation by 14% between 2015 and 2025.
4.  About 12 million Indian children lacked school drinking water in 2025 and 20 million lacked hygiene services in 2024.
5.  Universal school sanitation by 2030 requires progress five times faster.

Additional Information:
1.  The 17 Sustainable Development Goals and 169 targets were adopted in 2015.
2.  UNICEF was formed in 1946 and is headquartered in New York.

Apple Pay launches in India with Axis Bank.

Dated: 03 October 2026
Apple launched its contactless Apple Pay service in India on September 30, 2026, initially partnering with Axis Bank.

Key Highlights:
1.  Visa and Mastercard credit-card holders of Axis Bank are the first supported users.
2.  Tokenisation replaces card details with an encrypted Device Account Number.
3.  Face ID, Touch ID or device passcode authenticates transactions, with information stored in Secure Element hardware.
4.  Compatible devices include iPhone XR or later on iOS 18 and Apple Watch Series 6 or later on watchOS 11.
5.  NFC terminals at major retailers and apps such as Zomato, Blinkit and MakeMyTrip support the service.

Additional Information:
1.  Apple was established in 1976 and is headquartered in Cupertino.
2.  Axis Bank began as UTI Bank in 1993 and is headquartered in Mumbai.

Bank of India launches programmable digital-rupee functionality.

Dated: 03 October 2026
Bank of India went live on October 1, 2026, with user-level programmable digital-rupee and auto-issuance functions on its CBDC platform.

Key Highlights:
1.  Montran India developed the platform under RBI and NPCI guidelines.
2.  Users can schedule fixed e-rupee transfers to beneficiary wallets at chosen frequencies.
3.  Purpose-based conditions travel with the money and restrict permitted spending.
4.  After initial configuration, issuance operates without manual intervention.
5.  Uses include education allowances limited to tuition or meals, welfare payments and cross-border transfers.

Additional Information:
1.  Bank of India was established in 1906, headquartered in Mumbai and nationalised in 1969.
2.  The RBI-issued digital rupee is a digital form of legal tender.

International Day for Universal Access to Information observed.

Dated: 03 October 2026
The seventh United Nations observance of the International Day for Universal Access to Information was held on September 28, 2026.

Key Highlights:
1.  The 2026 theme was Upholding Information Integrity in the Digital Age: The Role of Access to Information in Addressing Information Disorder.
2.  UNESCO and Sierra Leone organised the global conference in Freetown.
3.  UNESCO proclaimed the day through Resolution 38 C/57 in 2015.
4.  The UN General Assembly formally recognised it through Resolution A/RES/74/5 in 2019.
5.  UNESCO began events in 2016 and the first official UN observance occurred in 2020.

Additional Information:
1.  UNESCO was established in 1945 and is headquartered in Paris.
2.  The day is observed annually on September 28 to strengthen access-to-information laws.

Alphabet unveils Gemini 4 flagship AI model.

Dated: 03 October 2026
Alphabet announced its Gemini 4 flagship Artificial Intelligence model, codenamed Argon, on October 1, 2026, for complex computing workloads.

Key Highlights:
1.  Argon is substantially larger than the earlier Pro-series models.
2.  The company reported higher scores than rival frontier models, though it trailed in two of four coding benchmarks.
3.  Google cancelled the previously planned Gemini 3.5 Pro release.
4.  The model is optimised for difficult workloads, specialised coding and cybersecurity protocols.
5.  Google also reorganised its DeepMind laboratory and several Gemini leaders departed.

Additional Information:
1.  Alphabet became Google’s parent company in 2015 and is headquartered in Mountain View.
2.  DeepMind was founded in 2010, acquired by Google in 2014 and developed AlphaGo.

Indian Embassy launches India-Kuwait Media Connect platform.

Dated: 03 October 2026
The Indian Embassy in Kuwait launched the India-Kuwait Media Connect platform on September 30, 2026, to strengthen bilateral dialogue.

Key Highlights:
1.  The platform is abbreviated IKMC.
2.  Its theme is Partnership, Perspectives and Possibilities.
3.  Indian Ambassador to Kuwait Paramita Tripathi unveiled its logo.
4.  It will provide regular media access to information on India-Kuwait relations.
5.  The platform highlights India’s infrastructure, digital capability and economic growth.

Additional Information:
1.  Kuwait’s capital is Kuwait City.
2.  The Kuwaiti Dinar is the world’s highest-valued currency unit.