02 November 2026 | English | FREE Current Affairs PDF

Today’s Highlight: The US Federal Reserve held rates at 3.75 to 4.00 per cent, and European Central Bank President Christine Lagarde announced she will resign on 7 February 2027. Central bank decisions and top appointments like these are regularly asked in Banking, SSC and TNPSC exams.

News in One Liner – 31 October, 1 and 2 November 2026

PIB News

Modi Chairs 54th PRAGATI Meeting, Reviews Projects Worth Rs 16,000 Crore

Prime Minister Narendra Modi chaired the 54th meeting of Pro-Active Governance and Timely Implementation (PRAGATI) on 28 October 2026. He reviewed railway, PM Ekta Mall and Drug Park projects worth more than Rs 16,000 crore across 31 States and Union Territories. He asked Chief Secretaries to review schemes with District Magistrates every month and to focus on outcomes rather than outlays.

Rs 1,000 Crore Margin Money Subsidy Released Under Employment Generation Programme

Union Minister Jitan Ram Manjhi released Rs 1,000 crore as margin money subsidy under the Prime Minister’s Employment Generation Programme. The money supports 11,333 new micro enterprises that received bank loans of about Rs 3,260 crore and are expected to create over 1.02 lakh jobs. The scheme is implemented nationally by the Khadi and Village Industries Commission and has helped set up more than 8.38 lakh units since 2014-15.

Sports and Education Ministries Sign Clean Sport Agreement With UNESCO

The Sports and Education Ministries signed a Memorandum of Understanding with the United Nations Educational, Scientific and Cultural Organization (UNESCO) on 28 October 2026. It will take clean sport values into classrooms through the Sports Values in Every Classroom Toolkit, which will have video modules in 13 Indian languages. The agreement was exchanged at the Clean Sport Conclave of the National Anti-Doping Agency India.

Jal Shakti Minister Launches Punah Bharan App for Groundwater Recharge Planning

The Union Minister of Jal Shakti launched Punah Bharan, a mobile application for the scientific planning of groundwater recharge. It was developed by the Bhaskaracharya National Institute for Space Applications and Geo-informatics with the National Water Mission. Users can find potential artificial recharge zones within 3 km and see which recharge structures suit local conditions.

Viksit Bharat Buildathon 2025 Enters Guinness World Records With 2,87,967 Submissions

Viksit Bharat Buildathon 2025 was certified by Guinness World Records as the Largest Innovation Solution Competition, with 2,87,967 project submissions. Union Minister of State for Education Jayant Chaudhary felicitated the 10 national winning teams in New Delhi on 28 October 2026. The national teams shared Rs 17.50 lakh in prize money.

GeM Cuts Transaction Charge to 0.30 Per Cent for Small Enterprises

Government e Marketplace (GeM) cut its transaction charge from 0.50 per cent to 0.30 per cent of order value, as highlighted at an event under GeM Samvad 2026. Orders up to Rs 10 lakh are now exempt, against the earlier limit of Rs 5 lakh. For orders above Rs 10 crore the charge is capped at Rs 3 lakh, and nearly 97 per cent of orders attract no transaction charge.

14th International Tourism Mart Begins at Tawang in Arunachal Pradesh

The Ministry of Tourism is holding the 14th International Tourism Mart for the North Eastern Region at Tawang in Arunachal Pradesh from 29 to 31 October 2026. Over 200 participants are expected, including 43 international buyers from 22 countries. The Mart returns to Tawang after 13 years, as its 2nd edition was held there in 2013.

Industry News

Finance Ministry Nowcast Estimates 7.35 Per Cent Growth in Second Quarter

The Ministry of Finance’s nowcasting model estimates that India’s economy will grow 7.35 per cent in the second quarter of 2026-27, says its monthly economic report. The outlook is backed by stronger industrial output, energy use, port traffic, goods and services tax collections and automobile sales. The report names a slowdown in artificial intelligence related investment and the West Asia crisis as risks.

Provident Fund Body Plans to Invest 3 Per Cent in Startups

The Employees’ Provident Fund Organisation (EPFO) is framing guidelines to put up to 3 per cent of its fresh annual accretions into Category I and Category II alternative investment funds (AIFs) and startups. The proposal has no final approval yet and is expected before its central board of trustees in November. The draft safeguards include a minimum corpus of Rs 100 crore for eligible funds.

Citi’s Rahul Saraf Says India’s Dealmaking Remains Resilient

Rahul Saraf, Citi’s head of investment banking for India, said dealmaking remains resilient despite a weaker rupee and a slump in equity markets. India’s year-to-date merger and acquisition value fell more than 19 per cent to $95.5 billion from $118.5 billion a year earlier. He expects strong activity in healthcare, consumer, infrastructure and technology.

Price Regulator Cuts Maximum Retail Prices of 543 Cancer Drug Brands

The National Pharmaceutical Pricing Authority has revised the maximum retail prices of 543 cancer drug brands and pack sizes, with cuts of up to 93 per cent in some cases. The palbociclib brand Palbopro fell from Rs 40,421.33 to Rs 2,720 per unit. Innovator drugs from multinational companies, such as Avastin and Keytruda, saw no change.

Employees’ State Insurance Corporation Extends Amnesty Scheme Till 31 December 2026

The Employees’ State Insurance Corporation extended the New Amnesty Scheme, 2025, by three months, from 30 September to 31 December 2026. It is a one-time dispute resolution initiative to cut the backlog of court cases. Court cases filed up to 31 March 2025 are eligible, and employers who have already paid their dues can withdraw cases by paying 10 per cent of the disputed damages.

India’s Pharmaceutical Exports Rise 4.9 Per Cent to $16.14 Billion

India’s pharmaceutical exports grew 4.90 per cent to $16.14 billion in April to September 2026, according to data from the Pharmaceuticals Export Promotion Council of India (Pharmexcil). Exports to Europe rose 9.66 per cent to $3.29 billion, and those to ASEAN countries climbed 21.54 per cent. Shipments to the United States moderated.

Financial News

Equitas Small Finance Bank Chief P N Vasudevan Resigns

P N Vasudevan resigned as Managing Director and Chief Executive Officer of Equitas Small Finance Bank on 29 October 2026, about three months after his tenure was extended till July 2029. His letter cited investor concerns over a perceived conflict of interest involving his daughter’s non-banking financial company. The bank’s shares closed over 12 per cent lower at Rs 56.99 on the Bombay Stock Exchange.

Pension Regulator Defers New Point of Presence Charges to 1 December

The Pension Fund Regulatory and Development Authority deferred the revised Point of Presence (PoP) charges under the National Pension System from 1 October to 1 December 2026. The new structure has a one-time onboarding fee of Rs 200 per account number and an annual charge of 0.20 per cent of assets. Dormant accounts are not charged.

World News

Federal Reserve Holds Rates at 3.75 to 4.00 Per Cent

The Federal Open Market Committee of the United States kept its target range for the federal funds rate at 3.75 to 4.00 per cent on 28 October 2026. The vote was 10 to 2, with Lisa Cook and Beth Hammack favouring a quarter percentage point hike. The statement hinted that further hikes could follow depending on inflation.

Appointments and Resignation

European Central Bank President Christine Lagarde To Resign in February

European Central Bank President Christine Lagarde announced on 29 October 2026 that she will resign on 7 February 2027, nine months before her term was due to end on 31 October 2027. Her early exit lets European leaders choose a successor before France’s presidential election next year. Two other board seats also fall vacant, so leaders are likely to fill three posts together.

Summits & Conferences

S Jaishankar to Attend G20 Foreign Ministers Meeting in Atlanta

External Affairs Minister S Jaishankar will attend the G20 Foreign Ministers meeting in Atlanta on 30 and 31 October 2026, along with a Quad Foreign Ministers meeting there with Australia and Japan. He will then go to Antigua and Barbuda for the Commonwealth Heads of Government Meeting from 1 to 4 November. He will also hold bilateral meetings on the sidelines.