08th October 2025

1. MoM Issued Guidelines for Rs 1,500 Crore Critical Mineral Recycling Incentive Scheme
2. RPF, NDRF, IRDM Sign MoU to Strengthen Railway Disaster Response
3. Union Minister Ashwini Vaishnaw Approves Establishing NaMo Semiconductor Lab at IIT Bhubaneswar
4. DDWS Signed MoA with BISAG-N to Strengthen Digital Monitoring of Rural Water and Sanitation
5. Comos Co-operative Bank launched India’s First Youth-Focused Digital App ‘Cosmos Galgal app’
6. Phonepay along with Utkarsh SFB Launches Wish Credit Card
7. Razorpay, YES Bank Launches India’s First RBI-Compliant Biometric Authentication for Payments
8. President of India Droupadi Murmu Presented MY Bharat NSS Award 2022-23
9. IIHL Acquires 100% Stake in Sterling Bank, Bahamas
10. F1 Singapore Grand Prix: George Russell Wins; McLaren Secures 10th Constructors’ Title
11. Maharashtra CM Devendra Fadnavis Launches ‘Abhijat Marathi OTT’
12. Khaled El-Enany Set to Become First Arab UNESCO Chief
13. Cabinet Approves ₹24,634-Crore Railway Multitracking Projects Across Four States
14. PayPal Onboards India’s UPI as First Payments System Partner
15. India-AI Impact Summit Logo Unveiled Blends Ethics, Heritage, and Innovation
16. World Bank Ups India’s FY26 Growth Estimate to 6.5%
17. DRDO Launches IRSA 1.0 for Military Radio Interoperability
18. India to Launch First Red List at 2025 IUCN Congress
19. Indian Air Force Day 2025 Celebrates Modern Strength, Legacy
20. Sanju Samson Named EPL Ambassador for India
21. India Launches UPI at Supermarkets in Qatar
22. India-Qatar aim $30 bn FTA by 2030; UPI adoption in Qatar to boost bilateral trade
23. JPMorgan Appoints New EMEA Co-CEOs
24. Iran Approves Currency Redenomination to Tackle Inflation
25. President of India Presents “My Bharat – NSS” Awards for 2022-23
26. PM to Inaugurate IMC 2025 in Delhi on October 8th

National News

1. Guidelines Issued for ₹1,500 Crore Critical Mineral Recycling Scheme

• What:
  • The Ministry of Mines has released guidelines for a ₹1,500 crore incentive scheme to promote recycling of critical minerals from secondary sources such as e-waste, spent lithium-ion batteries, and scrap materials.
• Why:
  • The scheme aims to build the nation’s capacity for recovering and producing critical minerals through recycling activities.
• Tell me more:
  • Guidelines cover modalities including incentive allocation methods, application and evaluation procedures, and institutional oversight mechanisms.
  • The scheme targets recovery from sources like electronic waste, used lithium-ion batteries, and other scrap materials.
  • Application window will remain open for six months until 1st April next year.

Source: NOA

2. Cabinet Approves ₹24,634 Crore Railway Multi-Tracking Projects

• What:
  • The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi approved four railway projects worth ₹24,634 crore under the Ministry of Railways.
• Why:
  • The projects aim to enhance capacity, improve connectivity, reduce congestion, and boost economic and employment opportunities in multiple states.
• Tell me more:
  • Approved projects include: Wardha–Bhusawal 3rd & 4th line (314 km), Gondia–Dongargarh 4th line (84 km), Vadodara–Ratlam 3rd & 4th line (259 km), and Itarsi–Bhopal–Bina 4th line (237 km).
  • These projects span 18 districts across Maharashtra, Madhya Pradesh, Gujarat, and Chhattisgarh, expanding the Indian Railways network by about 894 km.
  • They will improve connectivity to approximately 3,633 villages, home to over 85.84 lakh people, including two Aspirational Districts—Vidisha and Rajnandgaon.
  • The projects are planned under the PM Gati Shakti National Master Plan for integrated multi-modal connectivity.

Source: PIB

3. Logo of India-AI Impact Summit 2026 Unveiled

• What:
  • The Government of India unveiled the logo for the India-AI Impact Summit 2026, scheduled to be held on February 19–20, 2026, at Bharat Mandapam, New Delhi.

• Tell me more:
  • The logo was selected through a contest on the MyGov platform.
  • The winning design was created by Shri Ajith P. Suresh and selected by the Emerging Technologies team under the Ministry of Electronics and Information Technology (MeitY).
  • The logo features the Ashoka Chakra at its centre, symbolizing ethical governance and justice, with neural network flares representing AI’s transformative and inclusive power.
  • The vibrant color gradient stands for innovation, diversity, and inclusivity, while the modern typography ensures clarity and trust.
  • The Summit will be hosted by the Ministry of Electronics and Information Technology.
  • The theme focuses on using AI for inclusive growth, sustainability, and equitable progress.

Source: PIB

4. 9th Edition of India Mobile Congress 2025

• What:
  • Prime Minister Narendra Modi inaugurated the 9th edition of the India Mobile Congress (IMC) 2025, Asia’s largest telecom, media, and technology event, at Yashobhoomi in New Delhi.
• Why:
  • The event aims to promote innovation, entrepreneurship, and collaboration in telecom and digital technologies to advance India’s vision of Atmanirbhar Bharat and Digital India.
• Tell me more:
  • IMC 2025 is jointly organised by the Department of Telecommunications (DoT) and the Cellular Operators Association of India (COAI) with the theme “Innovate to Transform.”
  • The event focuses on next-generation technologies including 6G, optical communication, semiconductors, and cyber fraud prevention.
  • The Prime Minister highlighted India’s achievements in electronics manufacturing, 5G expansion, and the launch of its indigenous 4G stack reaching remote regions.

Source: PMI

State News

1. NaMo Semiconductor Laboratory Approved at IIT Bhubaneswar

• What:
  • Union Minister for Electronics and Information Technology Ashwini Vaishnaw has approved the ‘NaMo semiconductor laboratory’ at IIT Bhubaneswar with a total cost of ₹4.95 crore under the MPLAD scheme.
• Why:
  • The initiative aims to strengthen semiconductor research, skilling, and industry-ready talent development in India while supporting the ‘Make-in-India’ and ‘Design-in-India’ initiatives.
• Tell me more:
  • The project includes ₹4.6 crore allocated for equipment and ₹35 lakh for software.
  • It will expand the existing Silicon Carbide Research and Innovation Centre (SiCRIC) clean room facilities at IIT Bhubaneswar.

Source: IE

2. Abhijat Marathi OTT Launched to Promote Marathi Culture

• Chief Minister Devendra Fadnavis launched Abhijat Marathi OTT, a free platform showcasing Marathi cinema, theatre, and music.

Source: BS

International News

1. IUCN World Conservation Congress in Abu Dhabi, UAE

• What:
  • India’s first Red List of Endangered Species will be unveiled at the IUCN World Conservation Congress in Abu Dhabi, UAE, from October 9–15, 2025.
• Why:
  • The Red List aims to highlight and document endangered species in India to support conservation and biodiversity protection efforts.
• Tell me more:
  • India has been a State Member of the International Union for Conservation of Nature (IUCN) since 1969.
  • The IUCN World Conservation Congress, held once every four years, brings together global leaders to guide conservation and sustainable development action.
  • The 2025 Abu Dhabi Congress will focus on five major themes, including resilient conservation, equity, climate risk reduction, and nature-positive economies.
  • The last IUCN Congress was held in Marseille, France, and online in September 2021, drawing over 9,200 participants.

Source: DTE

2. Iran to Remove Four Zeros from Its Currency

• What:
  • Iran plans to redenominate its national currency, the rial, by removing four zeros to simplify transactions and address ongoing high inflation.
• Why:
  • The reform aims to tackle chronic inflation, ease everyday transactions, and restore public confidence in the Iranian currency amid prolonged economic challenges.
• Tell me more:
  • Under the new plan, 10,000 old rials will be replaced by 1 new rial, meaning what currently costs 1,000,000 rials will cost 100 new rials.
  • The change will simplify accounting, pricing, and financial operations while reducing confusion in daily transactions.
  • Both old and new rials will circulate for up to three years, with the Central Bank having two years for full implementation.
  • The measure still requires approval from Iran’s Guardian Council and the signature of President Masoud Pezeshkian to become law.
  • The redenomination aligns with the common use of “toman,” which equals 10 rials, making the currency system consistent with local practice.

Source: TOI

Banking and Economy

1. Cosmos Bank Launches Cosmo Galgal App for Youth

• What:
  • Umunthu System Private Limited has partnered with Cosmos Co-operative Bank to launch Cosmo Galgal, India’s first youth-focused digital banking solution from a co-operative bank.
• Why:
  • The initiative aims to help young Indians build good money management habits and simplify their financial decisions in a digital-first environment.
• Tell me more:
  • Cosmo Galgal is a zero-balance savings account app with video KYC, allowing users to open accounts anytime without visiting a branch.
  • Key features include UPI compatibility, instant payments, auto-budgeting, multilingual access, and real-time expense tracking through the TrendZ feature.

Source: ANI

2. PhonePe and Utkarsh SFB Launch FD-Backed Credit Card

• What:
  • PhonePe has partnered with Utkarsh Small Finance Bank to launch the Wish Credit Card, available for online applications through the PhonePe app.
• Why:
  • The card aims to provide easy credit access to users in tier-2 and tier-3 cities and to first-time credit card applicants.
• Tell me more:
  • The Wish Credit Card is backed by a Fixed Deposit starting at ₹2,000, securing the credit limit and earning interest.
  • PhonePe is a major Indian digital platform launched in 2016.

Source: CNBC

3. Razorpay and Yes Bank Launch Biometric Card Authentication

• What:
  • Razorpay, in partnership with Yes Bank, has launched India’s first biometric card authentication system using facial recognition for online card payments as per RBI guidelines.
• Why:
  • The system aims to improve payment security, reduce transaction failures, and offer a smoother user experience by replacing PIN and OTP-based verification with biometric authentication.
• Tell me more:
  • The Access Control Server integrates biometric verification with AI-powered risk checks for secure and faster authentication.
  • It can process up to 10,000 transactions per second while reducing OTP-related errors.
  • RBI’s September 2025 guidelines mandate stronger authentication methods to improve payment success rates.
  • Digital payment fraud in India led to losses exceeding ₹520 crore in FY25.

Source: CNBC

4. IIHL Mauritius Acquires Sterling Bank Bahamas

• What:
  • IndusInd Bank’s promoter, IIHL Mauritius, has acquired 100% stake in Sterling Bank, Bahamas through its wholly owned subsidiary IIHL (Capital), Mauritius.
• Tell me more:
  • IIHL Mauritius earlier acquired 51% stake in Sterling Bank in September 2022.
  • Following the acquisition, Sterling Bank will be renamed “IIHL Bank & Trust Limited.”
  • IIHL targets a US$50 billion global market capitalisation by 2030 in the BFSI sector.

Source: ET

5. PayPal Partners with NPCI to Enable Global UPI Payments

• What:
  • PayPal CEO Alex Chriss announced a partnership with the National Payments Corporation of India (NPCI) to integrate UPI into PayPal World, enabling cross-border payments and international shopping.
• Why:
  • The partnership aims to make digital wallets interoperable across countries and simplify cross-border payments for Indian consumers using UPI.
• Tell me more:
  • UPI is the first payments system partner on PayPal World, which links major global wallets including TenPay Global (China), Mercado Pago (Mexico), PayPal, and Venmo (US).
  • Alex Chriss became PayPal’s CEO in September 2023, succeeding Dan Schulman.

Source: ET

6. UPI Launched in Qatar to Boost Cross-Border Payments

• What:
  • Union Minister Piyush Goyal launched India’s Unified Payments Interface (UPI) at Lulu Hypermarket in Doha, enabling seamless and low-cost digital transactions between India and Qatar.
• Why:
  • The initiative aims to expand India’s digital payment network globally, strengthen trade and tourism links, and enhance financial connectivity between the two countries.
• Tell me more:
  • The launch event took place in Doha and was attended by Indian and Qatari representatives.
  • UPI services in Qatar have been rolled out through collaboration between NPCI International Payments Ltd (NIPL), Qatar National Bank (QNB), and Japanese payment gateway NETSTARS.
  • UPI transactions are now operational at QNB’s POS terminals across large parts of the Qatari market.

Source: ET

7. India and Qatar to Double Bilateral Trade by 2030

• What:
  • India and Qatar plan to double their bilateral trade to $30 billion by 2030 from the current $14 billion, as announced by Union Minister Piyush Goyal during his visit to Doha.
• Tell me more:
  • The two countries have begun discussions on a Free Trade Agreement (FTA) whose terms of reference are expected to be finalised soon.
  • The FTA is likely to be completed by mid-2026, with talks being fast-tracked after approval of the key terms.
  • Qatar had announced investments worth $10 billion in India, of which $4–5 billion have already been invested and another $1–1.5 billion are in progress.
  • India exported goods worth $1.7 billion to Qatar in FY25, while imports, mostly crude oil and gas, stood at $12.5 billion.

Source: MoC

GDP Forecasts

1. World Bank Raises India’s Growth Forecast to 6.5%

• What:
  • The World Bank increased India’s growth forecast for FY 2026 to 6.5% from its earlier estimate of 6.3%, citing strong domestic demand, rural recovery, and GST reforms.
• Why:
  • The revision was made due to India’s resilient economic fundamentals, robust consumption growth, and the continued impact of structural reforms like GST.
• Tell me more:
  • The World Bank’s latest South Asia Development Update projects India to remain the world’s fastest-growing major economy.
  • It revised India’s FY 2027 growth outlook downward to 6.3% due to the 50% tariff imposed by the US.
  • Growth in South Asia is expected at 6.6% in 2025 but will likely slow to 5.8% in 2026, marking a 0.6 percentage point cut from the previous forecast.
  • The report warns of downside risks from global uncertainty, socio-political unrest, and disruption in labour markets due to emerging technologies like AI.

Source: NOA

Defence News

1. DRDO Launches Indian Radio Software Architecture 1.0

• What:
  • DRDO, in collaboration with Integrated Defence Staff and the tri-services, released Indian Radio Software Architecture (IRSA) version 1.0 to enable interoperability in military communication.
• Why:
  • The initiative aims to enhance self-reliance in defence communication technologies by creating a national software standard for software defined radios (SDRs).
• Tell me more:
  • IRSA is a comprehensive software specification defining standardised interfaces, APIs, execution environments, and waveform portability mechanisms for SDRs.
  • This is India’s first national specification for a standardised software architecture for SDRs.
  • The IRSA initiative reflects the vision of “Designed in India, for India and ready for the world.”

Source: ET

Awards

1. President Presents MY Bharat-NSS Awards 2022-23

• What:
  • The President of India, Smt Droupadi Murmu, presented the MY Bharat – National Service Scheme Awards for 2022-23 at Rashtrapati Bhavan.
• Why:
  • The awards aim to honour outstanding contributions of youth in social service, community development, and nation-building.
• Tell me more:
  • The MY Bharat-NSS is a flagship programme of the Government of India focused on developing the personality and character of students through voluntary community service.
  • The NSS was launched in 1969 during Mahatma Gandhi’s birth centenary celebrations.
  • The awards were instituted by the Ministry of Youth Affairs and Sports in 1993-94.

Source: PIB

Important Days

1. Indian Air Force Day (93rd Edition) – October 8

Source: IT

Sports

1. McLaren Wins Formula 1 Constructors’ Championship at Singapore GP

• What:
  • McLaren secured the Formula 1 Constructors’ Championship at the Singapore Grand Prix, as George Russell won the race in dominant fashion.
• Tell me more:
  • The Singapore Grand Prix was the first F1 race officially classified as a “heat hazard” event by the FIA.

Source: IE

Memorandum of Understanding

1. Tri-Party MoU Signed for Railway Disaster Response

• What:
  • A tri-party MoU was signed among the Railway Protection Force (RPF), National Disaster Response Force (NDRF), and Indian Railway Institute of Disaster Management (IRIDM), Bengaluru, to strengthen coordination in railway disaster management.
• Why:
  • The MoU aims to build an institutional framework for integrated relief operations and capacity building to save lives during the Golden Hour of railway accidents.
• Tell me more:
  • The MoU was signed at Rail Bhawan, New Delhi, by officials from RPF, NDRF, and IRIDM in the presence of senior officials from the Ministry of Railways.
  • It will help establish clear SOPs and ensure collaboration among various stakeholders for effective rescue operations.
  • Focus areas include both man-made and natural disasters such as cyclones, downpours, and heat waves.
  • The collaboration will promote field training and simulation-based exercises under different modules designed by JRRPFA, NDRF, and IRIDM.

Source: TOI

2. DDWS Signs MoA with BISAG-N for GIS Platform

• What:
  • The Department of Drinking Water & Sanitation signed a MoA with BISAG-N to develop a GIS-integrated decision-support platform for Jal Jeevan Mission and Swachh Bharat Mission (Grameen).
• Why:
  • The aim is to improve planning, monitoring, and evaluation of rural water supply and sanitation initiatives through data-driven decision-making.
• Tell me more:
  • The agreement was signed at CGO Complex, New Delhi, in the presence of senior officials from DDWS and BISAG-N.
  • The platform will provide real-time visualization, analytics, and informed decision-making for Jal Jeevan Mission (JJM) and Swachh Bharat Mission (Grameen).
  • It will map Rural Piped Water Supply Schemes with unique IDs and monitor water delivery at household level.
  • BISAG-N will offer services including database design, map creation, data migration, software development, and system integration.
  • The initiative will align with the PM GatiShakti National Master Plan for integrated infrastructure development.

Source: PIB

Appointments

1. Dr. Khaled El-Enany Nominated as Next UNESCO Chief

• The UNESCO Executive Board nominated Egypt’s former Minister of Tourism and Antiquities, Dr. Khaled El-Enany, as the next Director-General, marking the first time an Arab candidate has reached this stage.
• If approved by all 194 member states at the UNESCO General Conference in November 2025, he will succeed Audrey Azoulay of France in early 2026 for a four-year term.
• Previous Arab candidates for UNESCO chief include Farouk Hosny in 2009 and Moushira Khattab in 2017, both from Egypt.

Source: TOI

2. Sanju Samson Appointed as EPL Ambassador in India

• Indian cricketer Sanju Samson has been appointed the official ambassador for the English Premier League (EPL) in India.
• A Liverpool fan himself, Samson shared that his love for football comes from his upbringing in Kerala and his family’s footballing background.

Source: NN

3. JPMorgan Appoints New Co-CEOs for EMEA Region

• JPMorgan Chase appointed Conor Hillery and Matthieu Wiltz as Co-Chief Executive Officers for Europe, the Middle East, and Africa (EMEA).
• The EMEA region covers Europe, the Middle East, and Africa—key markets for JPMorgan’s global operations.

Source: ET

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