12 October 2026 · Daily Current Affairs

Banking and RBI

RBI opens special dollar window for three public sector oil companies

10 October 2026 | Reserve Bank of India (Press Release 2026-2027/1306)

On 10 October 2026 the Reserve Bank of India announced a special window to meet the entire daily dollar requirements of three public sector oil marketing companies: Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited. The RBI said the decision rests on its assessment of current market conditions.

Under the facility, the Reserve Bank will sell US dollars to the three companies through designated bank or banks. The facility comes into effect on Monday, 12 October 2026 and stays in place until further notice.

Exam takeaway: A special window means these oil marketing companies buy dollars through the RBI instead of the open market.

Quick revision: RBI special USD window for IOCL, HPCL, BPCL from 12 Oct 2026.

Banking and RBI

RBI liquidity operations: Rs 2 lakh crore VRRR and Rs 25,000 crore OMO sale

9 October 2026 | Reserve Bank of India (Press Releases 2026-2027/1304 and 1301)

On 9 October 2026 the RBI announced two liquidity operations after a review of current and evolving liquidity conditions. Press Release 2026-2027/1304 announced a 3-day Variable Rate Reverse Repo (VRRR) auction under the Liquidity Adjustment Facility on Monday, 12 October 2026, for a notified amount of Rs 2,00,000 crore. The window is 9:30 AM to 10:00 AM and the date of reversal is Thursday, 15 October 2026.

Press Release 2026-2027/1301 announced an Open Market Operation (OMO) sale of Government of India securities for Rs 25,000 crore on 13 October 2026, through a multi-security auction using the multiple price method. Six securities are on offer, from the 7.88% GS 2030 to the 7.10% GS 2034. Bids go through the RBI's E-Kuber system between 9:30 am and 10:30 am, the result is announced the same day, and successful participants must have funds in their current account by 12 noon on 14 October 2026.

Exam takeaway: A reverse repo or an OMO sale absorbs liquidity from banks; an OMO purchase or a repo injects it.

Quick revision: VRRR Rs 2 lakh cr (12 Oct, 3-day); OMO sale Rs 25,000 cr (13 Oct).

Economy and Finance

SEBI introduces Credit Risk-o-Meter for debt securities

7 October 2026 | SEBI circular dated 7 October 2026, as reported by Mint

Mint reported on 9 October 2026 that, according to a SEBI circular released on 7 October, a Credit Risk-o-Meter will be mandatory in offer documents, private placement memorandums, advertisements and on the web and mobile platforms of Online Bond Platform Providers (OBPPs). It maps credit ratings to six colour-coded levels, from green for the lowest credit risk to red for high to very high risk of default, including D. The meter captures credit risk only, unlike the mutual fund risk-o-meter, which reflects the risk of a whole scheme.

The issuer or OBPP must show the rating agency's name and the bond's actual rating below the meter. An unsecured bond must be marked 'unsecured' in bold red text. OBPPs must communicate rating changes within 24 hours of receiving the update. The provisions may come into force on 21 November 2026, 45 days after the circular was issued.

Exam takeaway: The Credit Risk-o-Meter is a disclosure tool for credit risk only, not a recommendation to buy or avoid a bond.

Quick revision: SEBI Credit Risk-o-Meter: 6 levels, effective about 21 Nov 2026.

Economy and Finance

IMF and World Bank Annual Meetings 2026 begin in Bangkok

12 October 2026 | International Monetary Fund

The 2026 Annual Meetings of the International Monetary Fund and the World Bank Group take place from Monday, 12 October to Sunday, 18 October 2026 in Bangkok, Thailand.

The IMF says hosting the Meetings highlights Thailand's economic resilience and institutional progress, and recognises Asia's central role in shaping the global economic and financial stability agenda. Thailand last hosted the Annual Meetings in 1991.

Exam takeaway: Annual Meetings venues rotate; knowing the host city and year is a common static-GK question.

Quick revision: IMF-WBG Annual Meetings 2026: Bangkok, 12-18 Oct.

Government Schemes

PM launches projects worth over Rs 13,000 crore in Chennai

11 October 2026 | Prime Minister's Office (pmindia.gov.in); metro stretch per Hindustan Times

On 11 October 2026 Prime Minister Narendra Modi laid foundation stones for, inaugurated and dedicated to the nation development projects worth over Rs 13,000 crore in Chennai, Tamil Nadu. Hindustan Times reported that he earlier flagged off Chennai Metro services between Porur Bypass and Poonamallee.

In his address the Prime Minister said the national metro network has grown from about 250 km in 2014 to over 1,100 km today. He announced the foundation laying of an advanced lubricant base oil project, said to help cut imports, and cited a recent decision to invest about Rs 17,000 crore to turn Thoothukudi's VOC Port into a mega container and green energy hub able to handle ultra-large container vessels. He also named PM Matsya Sampada Yojana support for Tamil Nadu's fishing harbours and a seaweed park.

Exam takeaway: Port and metro projects are common current-affairs items; note the project value and the place.

Quick revision: PM in Chennai: Rs 13,000 cr; metro 250 km to 1,100 km; VOC Port Rs 17,000 cr.

Today's Scheme

Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY)

Department of Financial Services, Ministry of Finance

PMJJBY is a one-year term life insurance scheme, renewable every year, that pays out on death due to any cause. It is a pure term cover: the benefit goes only to the nominee and there is no maturity benefit or surrender value, which keeps the premium low.

The sum assured is Rs 2 lakh and the premium is Rs 436 per annum per subscriber, debited automatically from the subscriber's bank or Post Office account in one instalment, as consented at enrolment. The cover year runs from 1 June to 31 May. Those joining mid-year pay a pro-rata premium: Rs 436 for June to August, Rs 342 for September to November, Rs 228 for December to February and Rs 114 for March to May. Renewal is at the full Rs 436.

All individual account holders of participating banks or the Post Office aged 18 to 50 can join, through one account only even if they hold several. Entry is not possible after 50, and cover ends on reaching 55, subject to annual renewal up to that date. It also ends if the account is closed or lacks balance to keep the cover in force. The scheme is offered through LIC and other life insurers in collaboration with participating banks and the Post Office.

For a first-time subscriber, risk starts from the date of the auto-debit. Death other than by accident in the first 30 days (the lien period) is not covered. A person who leaves the scheme can re-join by paying the appropriate premium, with the same 30-day condition. Any NRI with an eligible bank account in India can also join, but the claim is paid to the nominee in Indian currency only.

Exam takeaway: PMJJBY is the life cover (Rs 2 lakh, Rs 436, ages 18 to 50); do not mix it with PMSBY, the accident cover.