4 October 2026 · Daily Current Affairs

Banking and RBI

RBI Governor lists five global vulnerabilities

4 October 2026 | RBI Governor at the Kautilya Economic Conclave, via Forbes India

RBI Governor Sanjay Malhotra said any tightening of global financial conditions could spill over to banks and other markets, with rising leverage and stretched valuations as the main channels. He said the West Asia conflict has added to inflation pressure and raised financial system vulnerabilities, though the Indian financial system absorbed the supply shock quite well.

He named five global vulnerabilities: higher global debt with shorter maturities and harder bond yields; possible sharp repricing of AI-linked asset valuations; leverage built by hedge funds, option sellers, ETFs and other non-bank intermediaries; weak lending standards in private credit; and AI-heightened cyber risk. For India, he said the exposure runs mainly through higher commodity prices and external-sector pressure, and repeated that today's resilience may not imply tomorrow's immunity.

Exam takeaway: Learn the five vulnerabilities as a list: debt, AI valuations, leverage, private credit, cyber.

Quick revision: Governor: five global vulnerabilities; India exposed via commodities and external sector.

Economy and Finance

Finance Minister: uncertainty is a standing condition

4 October 2026 | Finance Minister Nirmala Sitharaman, via Hindustan Times

Speaking at the Kautilya Economic Conclave on the theme 'Resilience in an Age of Flux', Finance Minister Nirmala Sitharaman said uncertainty is now a standing condition of the global economy and policy must be designed around it. She cited the National Critical Mineral Mission, Rare Earth Corridors, India Semiconductor Mission 2.0 and small modular reactors as policy responses.

She gave these indicators: real GDP growth of 7.8 per cent in the first quarter of 2026-27, retail inflation of 4.82 per cent in August, a current account deficit of 0.5 per cent of GDP in Q1, gross NPAs at multi-decadal lows, and forex reserves of about 766 billion US dollars. She said India imports more than 88 per cent of the crude oil it refines, and that a quantity shock tests buffer stocks and the reach of delivery systems, unlike a price shock.

Exam takeaway: Price shock versus quantity shock: monetary and fiscal tools cushion price; buffers and delivery reach handle quantity.

Quick revision: FM: uncertainty is standing; GDP 7.8%; CPI 4.82%; forex about USD 766 bn.

Economy and Finance

PM's principal secretary: rare-earth magnets and deepwater push

4 October 2026 | Shaktikanta Das, via Moneycontrol

Shaktikanta Das, Principal Secretary-2 to the Prime Minister, said at the Kautilya Economic Conclave on 4 October 2026 that India is building domestic capacity in sectors where it is import dependent, including rare-earth permanent magnets, while continuing structural reforms and macro-financial stability.

He said the government has approved the Samudra Manthan scheme and is moving into deepwater exploration, including areas earlier classed as no-go zones for oil exploration. Rare-earth permanent magnets matter for electric vehicles, renewable energy equipment, electronics and advanced manufacturing.

Exam takeaway: Resilience here means domestic capacity without retreating from global markets.

Quick revision: Das: rare-earth magnets; Samudra Manthan; no-go zones opened.

Government Schemes

3D-printed house pilot in Andhra Pradesh

4 October 2026 | Union Minister Shivraj Singh Chouhan, via Akashvani News (AIR)

Union Agriculture and Rural Development Minister Shivraj Singh Chouhan and Andhra Pradesh Chief Minister N. Chandrababu Naidu launched a pilot project on 4 October 2026 to build houses using 3D concrete printing at Burripalem village, Guntur district. Chouhan said 3D printing could reduce construction time and cost and need fewer workers.

He said the Centre has sanctioned three lakh houses for Andhra Pradesh and would sanction another three lakh before the current construction is completed. The target is to finish the houses within six months. He said the Centre would also support rural infrastructure under the Vikasit Bharat-G RAM G scheme, and noted that Andhra farmers get Rs 20,000 a year under Annadata Sukhibhava, of which Rs 6,000 is from the Centre.

Exam takeaway: Know the technology (3D concrete printing), the place and the sanction number.

Quick revision: 3D-printed houses pilot in Guntur; 3 lakh houses sanctioned.

National and International Affairs

Jaishankar: India-EU FTA a 'real game changer'

4 October 2026 | External Affairs Minister S. Jaishankar, via Economic Times (ANI)

External Affairs Minister S. Jaishankar said at the Munich Leaders Meeting that a prospective India-EU Free Trade Agreement will be a 'real game changer'. Asked by former German Ambassador Wolfgang Ischinger about scope for a wider partnership, he named technology, defence, space and climate action as areas for cooperation.

He said Europe wants its own space capabilities and is rebuilding its defence industry, that India is expanding its launch capability, and that India's defence exports are growing rapidly with startups finding partners abroad.

Exam takeaway: The FTA is described as prospective in this report; do not state it as signed.

Quick revision: Jaishankar at Munich: India-EU FTA a 'real game changer'.

National and International Affairs

India weighs three more Scorpene submarines

4 October 2026 | Defence Secretary Rajesh Kumar Singh, via Business Today

Defence Secretary Rajesh Kumar Singh said the government is considering three additional Scorpene-class submarines, extending the Kalvari-class line built at Mazagon Dock Limited, Mumbai, while the larger Project-75(I) for six boats moves toward final approval.

Project-75(I) is at a more advanced stage and has been submitted for a decision by the competent authority; the extra Scorpene proposal is at an earlier stage. Project-75(I) envisages six diesel-electric attack submarines built in India with Germany's Thyssenkrupp Marine Systems, valued at over Rs 80,000 crore, with air-independent propulsion.

Exam takeaway: Two tracks: three Scorpenes (early stage) and Project-75(I) six boats (near decision).

Quick revision: Three more Scorpenes under consideration; P-75(I) near approval.

National and International Affairs

Navy to commission INS Samarthak and INS Mangrol this month

4 October 2026 | Indian Defence News, citing The New Indian Express

The Indian Navy is preparing to commission INS Samarthak and INS Mangrol this month, according to a report by The New Indian Express carried by Indian Defence News. INS Samarthak, built by Larsen & Toubro, is the Navy's first Multi-Purpose Vessel and lead ship of a two-vessel class, designed as a trials and evaluation platform for indigenous weapons, sensors and anti-submarine warfare systems.

INS Mangrol is the third vessel of the Mahe-class anti-submarine warfare shallow water craft built by Cochin Shipyard Limited, and will be the seventh of a planned 16 such platforms to enter service. The report says the Navy is working towards inducting 18 warships this year.

Exam takeaway: Samarthak is a trials platform; Mangrol is a coastal submarine hunter.

Quick revision: INS Samarthak (L&T, MPV) and INS Mangrol (Mahe-class, CSL) to be commissioned.

Appointments, Awards and Important Days

Jay Clayton named White House AI czar

4 October 2026 | US President Donald Trump, via NPR

US President Donald Trump said on 4 October 2026 that Director of National Intelligence Jay Clayton is the new White House AI czar. Clayton will lead a new White House 'Super Intelligence Force', which Trump said will coordinate the federal government's engagement with consumers, public interest groups, religious organisations, critical infrastructure providers and super intelligence companies.

Before leading national intelligence, Clayton was US Attorney for the Southern District of New York and chairman of the US Securities and Exchange Commission.

Exam takeaway: International appointments: person, new role, former posts.

Quick revision: Jay Clayton: US DNI, new White House AI czar.

Appointments, Awards and Important Days

Iran's oil minister resigns; acting minister named

4 October 2026 | Iranian presidency, via APA

Iranian President Masoud Pezeshkian accepted the resignation of Oil Minister Mohsen Paknejad and appointed Hamid Bovard as acting oil minister, the deputy head of communications at the president's office said on 4 October 2026, as reported by APA.

Exam takeaway: Note the word 'acting': Bovard is not a permanent appointee in this report.

Quick revision: Iran: Paknejad resigns; Hamid Bovard acting oil minister.

Appointments, Awards and Important Days

SBI appoints Deepak Kaushik as CGM, Bengaluru Circle

4 October 2026 | State Bank of India, via The Hindu BusinessLine

State Bank of India announced that Deepak Kaushik is the Chief General Manager of its Bengaluru Circle, which covers the whole of Karnataka. He earlier served as SBI's Country Head for East Asia at the Hong Kong office.

The Bengaluru Circle has 1,573 branches and is the bank's second-largest circle by total business.

Exam takeaway: Bank appointment questions ask the post, the circle and the previous role.

Quick revision: Kaushik: CGM SBI Bengaluru Circle; ex-Country Head East Asia.

Reports, Indices, Science and Technology

World Space Week 2026: 'Rocket Revolution'

4 October 2026 | World Space Week Association and UN, via Space.com and SpaceNews

World Space Week 2026 runs from 4 to 10 October with the theme 'Rocket Revolution', highlighting the technologies and organisations changing how humanity reaches and uses space. The World Space Week Association says the theme recognises how increased space access and falling launch prices have stimulated the space economy.

The week is a UN-declared celebration of space science and technology held every year from 4 to 10 October. ISRO began observances on 4 October, according to a report by Pareeksha.

Exam takeaway: Dates and the yearly theme are the usual exam facts for Important Days.

Quick revision: World Space Week: 4-10 Oct; 2026 theme Rocket Revolution.