Current affairs · 31 October 2026 · Listen
Listen: current affairs, 31 October 2026
The day's 11 current-affairs updates, word for word as on the day page, to listen to on the bus, at work or with your eyes closed.
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Current affairs, 31 October 2026.
Economy
Lending rates on fresh loans fall to 8.51% in September; 1-year median MCLR at 8.55%
RBI data released on 30 October 2026 shows the weighted average lending rate (WALR) on fresh rupee loans of scheduled commercial banks fell 10 bps to 8.51% in September 2026 from 8.61% in August. The 1-year median MCLR declined to 8.55% in October from 8.61% in September. Lending rates on existing loans were unchanged. This follows the RBI's 7 October decision to raise the repo rate by 25 bps to 5.50%.
Why it matters: WALR, MCLR and repo-rate movements are core banking-awareness topics.
RBI Central Board holds 625th meeting in Mumbai under Governor Sanjay Malhotra
The RBI Central Board of Directors reviewed prevailing economic conditions and potential risks to India's economic outlook at its 625th meeting in Mumbai on 30 October 2026. The meeting was chaired by Governor Sanjay Malhotra. The Board also reviewed the activities of the Deposit Insurance and Credit Guarantee Corporation (DICGC) and the work of select Central Office departments.
Why it matters: RBI governance, board meetings and DICGC's role are relevant for banking exams and the economy section of UPSC.
Environment
Cyclone 'Arnab' triggers flash floods in Andhra Pradesh's Srikakulam district
Flash floods caused by Cyclone 'Arnab' left vehicles stranded on the inundated National Highway 16 (NH-16) near Ichchapuram in Srikakulam district, Andhra Pradesh, as reported on 31 October 2026.
Why it matters: Cyclones, their naming and disaster management are recurring Environment and Geography topics.
Pay & Jobs
8th Pay Commission concludes Mumbai consultations; no fitment factor announced yet
The 8th Central Pay Commission held stakeholder consultations in Mumbai on 22-23 October 2026. The government has not announced a fitment factor, revised minimum salary, pension changes or implementation date. The commission was formally created on 3 November 2025 with an 18-month deadline, so its report is expected around May 2027. Effect is normally expected from 1 January 2026.
Why it matters: Pay commission composition and timeline (Chair: Justice Ranjana Prakash Desai; 18 months) are common static and current-affairs questions.
Cabinet approves 3% DA/DR hike, taking rate to 63% from 1 July 2026
The Union Cabinet on 28 October 2026 approved a 3% increase in Dearness Allowance for central government employees and Dearness Relief for pensioners, effective 1 July 2026. The rate now stands at 63% of basic pay. The combined impact on the exchequer is ₹10,016.10 crore per annum, benefiting about 48.54 lakh employees and 68.71 lakh pensioners. Arrears for July to October are expected with the October salary, ahead of Diwali on 8 November.
Why it matters: DA/DR figures (63%, ₹10,016.10 crore, 48.54 lakh employees, 68.71 lakh pensioners) are frequent static-GK and economy facts.
Major recruitment drives open: RRB NTPC 5,236 posts, RRB Station Master 1,250, UP TGT 17,735
RRB NTPC 2026 is out for 5,236 vacancies, with the graduate-level window closing 6 November and the undergraduate window closing 13 November. The RRB Station Master notification covers 1,250 posts, with applications open until 25 November. The UP TGT notification is out for 17,735 vacancies (last date 23 November). TNPSC Group 4 has 6,574 vacancies, with applications closing 5 November.
Why it matters: Live application deadlines and vacancy counts for several of the biggest recruitment drives this season.
Railways: 78-day Productivity Linked Bonus of ₹2,009.61 crore for 11.4 lakh staff
The Union Cabinet approved a Productivity Linked Bonus equivalent to 78 days' wages for 11,40,770 eligible non-gazetted railway employees for 2025-26. The total outlay is ₹2,009.61 crore, with a maximum payment of ₹17,951 per eligible employee.
Why it matters: Railway employee benefits are a recurring Railways-exam topic; note the 78 days, ₹17,951 maximum and 11.4 lakh beneficiaries.
Schemes
Cabinet approves PM Viksit Gram Swaraj Yojana and Khelo India Sports Goods Manufacturing Scheme
The Union Cabinet on 28 October 2026 approved Pradhan Mantri Viksit Gram Swaraj Yojana (PM VGSY) as a Centrally Sponsored Scheme for 2026-27 to 2030-31, to strengthen Panchayati Raj institutions. It also approved the Khelo India Sports Goods Manufacturing Scheme with a total outlay of ₹1,856.67 crore for 2026-27 to 2033-34, which was announced in Budget 2026-27.
Why it matters: New centrally sponsored schemes, their duration and outlay are standard Prelims fodder.
Cabinet approves ₹10,000 crore Container Manufacturing Promotion Scheme
On 28 October 2026 the Union Cabinet approved the Container Manufacturing Promotion Scheme (CMPS) with an outlay of ₹10,000 crore. It has four components: interest subvention, testing and certification assistance, land leasing support and operational expenditure assistance. It aims to raise annual container manufacturing capacity from about 70,000 TEU to about 7.5 lakh TEU, reducing import dependence on China. The scheme was announced in Union Budget 2026-27.
Why it matters: Budget-announced manufacturing and maritime self-reliance schemes are favoured in Prelims and the economy section of Mains.
Cabinet extends National Social Assistance Programme to 2030-31 with ₹53,428 crore outlay
The Union Cabinet approved continuation of the National Social Assistance Programme (NSAP) for five years, 2026-27 to 2030-31. The total outlay is ₹53,428 crore, covering about 3.20 crore beneficiaries across all 28 States and 8 Union Territories.
Why it matters: NSAP (old-age, widow and disability pensions) is a standard social-sector scheme for GS-2.
Sci-Tech
ISRO schedules GSLV-F18/NVS-03 launch for 30 October to strengthen NavIC
ISRO scheduled the GSLV-F18 launch carrying the NVS-03 navigation satellite for 30 October 2026 at 23:51 IST from Satish Dhawan Space Centre, Sriharikota. The roughly 2,250 kg satellite is a second-generation NavIC satellite bound for Geosynchronous Transfer Orbit. NavIC currently has only three satellites available for positioning, below the four needed for standalone positioning. The launch outcome was not confirmed in the sources reviewed.
Why it matters: NavIC, the second-generation NVS series and GSLV details are regular Prelims and Sci-Tech questions.