02nd-03rd October 2025

1. India announces first cross-border rail links with Bhutan to boost trade
2. Bhutan’s Khorlochhu Hydro Power Ltd, signs Rs 4,829 cr loan agreement with PFC
3. MoMSME Celebrates ‘MSME Seva Parv 2025: Virasat se Vikas’ in Varanasi, UP
4. MoF Keeps Interest Rates on Small Savings Schemes Unchanged for Q3 FY26
5. 27 MoUs Worth Over Rs.66,000 Crores Exchanged to Boost Maritime Shipbuilding in Bhavnagar, Gujarat
6. Central Railway Completed Locomotive Trials of Indigenous KAVACH System
7. Indian Navy Signs Rs.47 Crore Contract with EyeROV for Underwater Drones
8. RBI imposes Rs 32 Lakh penalty on Indian Overseas Bank
9. RBL Bank Partners with LIC for Bancassurance Tie-Up
10. FatakSecure Received IRDAI Approval for Composite Corporate Agent License
11. Amazon Pay launches “Payments ka A to Z” in India
12. Hurun Rich List 2025: Mukesh Ambani Reclaimed Title of India’s Richest Man with Rs 9.55 Lakh Crore Wealth
13. Lt General Virendra Vats Assumes Charge as DG of NCC
14. World Vegetarian Day 2025 – October 1
15. International Coffee Day 2025 – October 1
16. India–EFTA TEPA Enters into Force with $100 B Investment Pledge
17. Pandit Chhannulal Mishra Passes Away at 89
18. G G Parikh Passes Away at 100: The Last of India’s Gandhian Socialists
19. GST Collections Rise to ₹1.89 Lakh Crore in September 2025
20. Elon Musk Becomes First Person Worth $500 Billion, May Soon Be World’s First Trillionaire
21. India’s First Private Helicopter Assembly Line: Tata to Build Airbus H125 in Karnataka
22. India’s First Dugong Conservation Reserve Gets IUCN Recognition
23. India Re-Elected to ICAO Council’s Part II Category
24. 11th World Green Economy Summit Begins in Dubai
25. Abhishek Sharma Breaks This Record in ICC T20I Batter Rankings

National News

1. India, Bhutan to Build First Cross-Border Rail Links

• What
  • India announced plans to build two cross-border railway links with Bhutan worth over Rs 4,000 crore.
• Why
  • The purpose is to boost trade, economic ties, and connectivity between India and Bhutan.
• Tell me more
  • The rail projects will connect Gelephu in Bhutan with Kokrajhar in Assam, and Samtse in Bhutan with Banarhat in West Bengal.
  • The 1,020 MW Punatsangchhu-II hydropower project has been fully commissioned, strengthening the India-Bhutan Energy Partnership.
  • India has pledged Rs 10,000 crore for Bhutan’s 13th Five-Year Plan covering projects, development, and grants.
  • Bhutan’s Khorlochhu Hydro Power Ltd also signed a Rs 4,829 crore loan agreement with Power Finance Corporation along with a standby credit of Rs 950 crore for its 600 MW Khorlochhu Hydropower Project.

Source: DD ET MEA

2. MSME Seva Parv 2025 Begins in Varanasi

• What
  • The Ministry of MSME is celebrating MSME Seva Parv 2025: Virasat se Vikas in Varanasi from September 28 to 30.
• Why
  • The aim is to promote seva, cultural pride, and awareness of Indian heritage while supporting MSME beneficiaries.
• Tell me more
  • The event is being presided over by Union MSME Minister Jitan Ram Manjhi, with participation from ministers, KVIC chairman, UP’s industrial development minister, and Varanasi’s mayor.
  • Over 1,500 MSME scheme beneficiaries are attending, including from PM Vishwakarma, Khadi & Gramodyog Yojana, PMEGP, and National SC/ST Hub Scheme.
  • A product exhibition and sale by local artisans and craftspeople is being organised.
  • The programme also includes Swachhata Karyakram at Namo Ghat, signing of MoU between KVIC and NSIC, and distribution of loan certificates, subsidies, and toolkits.

Source: TOI

State News

1. Central Railway Conducts First KAVACH Trial in Solapur

• What
  • Central Railway conducted its first KAVACH trial on 14th September 2025 in Solapur Division along a 26 km stretch.
• Why
  • The aim is to enhance railway safety and ensure safe train operations through the indigenous KAVACH system.
• Tell me more
  • Safety features tested included SPAD prevention, overspeed control, and SOS generation by block section and station master.
  • The first KAVACH Simulation Lab and Training Centre was launched at Kurduwadi with a new FAT setup.

Source: IR

2. Tata to Build Airbus H125 Helicopters in Karnataka

• What
  • Tata Advanced Systems Limited will set up India’s first private-sector helicopter assembly line in Karnataka to build Airbus H125 helicopters.
• Why
  • The aim is to develop “Made in India” helicopters for civil, para-public, and defence needs, and boost India’s aerospace capabilities.
• Tell me more
  • The facility will be in Vemagal, Karnataka, with the first delivery expected in early 2027.
  • It will assemble, integrate, and test structural, mechanical, and electrical systems, including final flight tests.
  • Military version H125M will also be produced with high levels of indigenous components.

Source: ET

International News

1. IUCN World Conservation Congress 2025 in Abu Dhabi

• What
  • IUCN has formally recognised India’s first Dugong Conservation Reserve in Palk Bay, Tamil Nadu, giving it global endorsement at the IUCN World Conservation Congress 2025 in Abu Dhabi.
• Why
  • The recognition highlights the importance of protecting vulnerable dugongs and their seagrass habitats from threats such as climate change, habitat loss, and destructive fishing practices.
• Tell me more
  • The reserve was established in September 2022 under the Wildlife Protection Act, 1972, covering 448.34 sq. km. in Palk Bay.
  • The France–IUCN Partnership Journey was launched online ahead of the IUCN World Conservation Congress in Abu Dhabi from 9–15 October 2025.
    • The aim is to highlight 20 years of joint initiatives and policies for nature conservation and align with IUCN’s upcoming 2026–2029 Programme.

Source: TH IUCN

2. 11th World Green Economy Summit Opens in Dubai

• What
  • The 11th World Green Economy Summit (WGES) opened in Dubai with more than 3,300 participants from over 30 countries.
• Why
  • The summit aims to accelerate the future of the green economy through innovation, collaboration, and sustainable development strategies.
• Tell me more
  • The two-day event is themed “Innovating for Impact: Accelerating the Future of the Green Economy.”
  • It is co-located with the Water, Energy, Technology, and Environment Exhibition (WETEX 2025).

Source: NOA

Banking and Economy

1. Government Keeps Small Savings Rates Unchanged for Q3 FY25

• What
  • The government has kept the interest rates of all post office small savings schemes unchanged for October to December 2025.
• Why
  • The decision was taken as part of the quarterly review of small savings rates to provide stability in returns for depositors.
• Tell me more
  • The interest rates have not changed for several quarters, with the last revisions made in Q4 2023-24.
  • The circular confirming these rates was issued by the Department of Economic Affairs on September 30, 2025.

Source: TOI

2. RBI Fines Indian Overseas Bank ₹31.8 Lakh

• RBI imposed a penalty of ₹31.8 lakh on Indian Overseas Bank for non-compliance with priority sector lending norms.
• The penalty was imposed because the bank collected loan-related charges in certain PSL accounts with sanctioned loans of up to ₹25,000.

Source: ET

3. RBL Bank Partners with LIC for Bancassurance

• What
  • RBL Bank has entered into a bancassurance partnership with Life Insurance Corporation of India (LIC).
• Why
  • The aim is to give RBL Bank customers access to LIC’s wide range of life insurance products through bank branches and digital platforms.
• Tell me more
  • LIC’s product range includes term plans, endowment policies, pension schemes, and unit-linked insurance plans.
  • This collaboration is expected to boost life insurance penetration and support the vision of “Insurance for all by 2047”.

Source: ET

4. FatakSecure Gets IRDAI Approval for Agent License

• FatakSecure, a subsidiary of FatakPay, has received approval from IRDAI for a composite Corporate Agent License.
• The license allows FatakSecure to expand its insurance services and provide better financial protection to underserved communities.
• FatakSecure can now offer motor, health, accident, life, corporate, and consumable insurance.
• The services will target gig workers, blue-collar staff, and other groups outside the formal insurance system.

Source: ET

5. Amazon Pay Launches All-in-One Payments Platform

• What
  • Amazon Pay India launched a major update to its platform called ‘Payments ka A to Z’, making it a single destination for all digital transactions.
• Why
  • The aim is to simplify payments by integrating all instruments in one place and providing users with smart, cost-effective, and rewarding payment options.
• Tell me more
  • The updated platform combines UPI, cards, pay-later, wallet, bill payments, and travel bookings into one interface on Amazon.in.
  • Features include smart bill tracking, payment reminders, all-in-one cards hub, and personalised recommendations with real-time rewards.
  • The campaign is fronted by actor Ayushmann Khurrana and highlights the efficiency of having all payments in one place.

Source: ET

6. India-EFTA to Monitor Investments Under TEPA

• What
  • India and the European Free Trade Association (EFTA) will set up a system to track investments committed under their Trade and Economic Partnership Agreement (TEPA), which came into effect on October 1.
• Why
  • The monitoring is needed as EFTA has committed $100 billion investment over 15 years, and tariff concessions can be withdrawn if commitments are not met.
• Tell me more
  • EFTA comprises Switzerland, Norway, Iceland, and Liechtenstein.
  • The bloc committed $50 billion in the first 10 years and another $50 billion in the following five years, linked to India’s GDP growth.
  • India signed the pact with EFTA in March 2024 after 16 years of negotiations.
  • Switzerland is also interested in a Bilateral Investment Treaty (BIT) and mutual recognition agreements under TEPA.

Source: ET

7. GST Collections Rise to ₹1.89 Lakh Crore in September

• What
  • GST collections rose to ₹1.89 lakh crore in September 2025, showing 9.1% growth over last year and 1.5% higher than the previous month.
• Why
  • The increase reflects stable economic activity and the impact of GST 2.0 reforms with reduced tax rates implemented from September 22, 2025.
• Tell me more
  • GST mop-up was ₹1.73 lakh crore in September 2024 and ₹1.86 lakh crore in August 2025.
  • Domestic revenue grew 6.8% to ₹1.36 lakh crore, while GST from imports rose 15.6% to ₹52,492 crore.
  • Refunds grew sharply by 40.1% year-on-year to ₹28,657 crore.
  • Net GST revenue stood at ₹1.60 lakh crore, 5% higher than the same month last year.
  • Average monthly GST collections in FY26 are close to ₹2 lakh crore, higher than ₹1.8 lakh crore in FY25.

Source: TH

Reports and Indices

1. M3M Hurun India Rich List 2025

• What
  • Mukesh Ambani and family are India’s richest with a net worth of ₹9.55 lakh crore, as per the M3M Hurun India Rich List 2025.
• Tell me more
  • India now has over 350 billionaires, up sixfold since the first list 13 years ago.

Source: ET

Defence News

1. Indian Navy Signs Rs 47 Crore Deal with EyeROV

• What
  • The Indian Navy signed a Rs 47 crore contract with Kochi-based startup EyeROV for supply of advanced Underwater Remotely Operated Vehicles (UWROVs).
• Why
  • The purpose is to use robotic underwater machines for surveillance, inspection, and operations in deep-sea environments where conventional tools cannot work.
• Tell me more
  • EyeROV’s “Trout” model is a 300-metre ROV equipped with advanced payloads for underwater missions.
  • EyeROV was founded in 2016 by IIT alumni Johns T Mathai and Kannappa Palaniappan P.
  • The company has completed over 100 underwater deployments in India, West Asia, and Europe.
  • It has 80+ customers, including DRDO, Indian Coast Guard, and CSIR.

Source: ET

Awards

1. Elon Musk Becomes First Person Worth $500 Billion

• What
  • Elon Musk has become the world’s first person with a net worth of $500 billion, according to Forbes.
• Tell me more
  • Tesla shares rose nearly 4%, adding $9.3 billion to Musk’s wealth, with his 12% stake now valued at $191 billion.
  • Musk also owns major stakes in SpaceX, now worth $400 billion, and xAI Holdings, valued at $113 billion.

Source: FB

Important Days

1. World Vegetarian Day 2025 – October 1

2. International Coffee Day 2025 – October 1

Sports

1. Abhishek Sharma Creates Record in ICC T20I Rankings

• What
  • Indian opener Abhishek Sharma achieved the highest-ever 931 rating points in ICC men’s T20I batters’ rankings after the Asia Cup 2025 match against Sri Lanka.
• Why
  • His record-breaking performance highlights his dominance in the Asia Cup 2025 and establishes him as the top-ranked T20I batter globally.
• Tell me more
  • Abhishek broke England’s Dawid Malan’s 2020 record of 919 points.
  • He ended the Asia Cup with 314 runs in seven innings at a strike rate of 200, including three half-centuries and consistent 30-plus scores.
  • He won the Player-of-the-Tournament award and is far ahead of England’s Phil Salt (844 points) in the rankings.
  • In his 24-match T20I career, he has scored 849 runs at an average of 36.91 with two centuries and five fifties.

Source: N18

Memorandum of Understanding

1. MoUs Worth ₹66,000 Crore Signed for Maritime Growth

• What
  • Twenty-seven MoUs worth over ₹66,000 crore were signed in Bhavnagar on 18th September 2025 for projects in India’s maritime and shipbuilding sector.
• Why
  • The aim is to boost port development, shipbuilding, sustainable transport, energy security, and maritime infrastructure to make India a global maritime hub.
• Tell me more
  • A major MoU was signed for developing a new port at Bahuda, Odisha with ₹21,500 crore investment and 150 MTPA capacity, expected to provide 25,000 jobs.
  • An MoU was signed for launching a ₹908 crore Water Metro Project in Patna using electric ferries and modern terminals.
  • Shipping Corporation of India and Oil PSUs signed an MoU for a Vessel Owning Joint Venture to reduce reliance on foreign fleets.
  • Cochin Shipyard Ltd signed an MoU with HD Korea Shipbuilding to build large commercial vessels in India with an investment of ₹3,700 crore for a new facility.
  • Gujarat Maritime Board signed MoUs with private partners for shipbuilding, repair, and recycling projects worth over ₹13,600 crore.

Source: PIB

Appointments

1. Lt Gen Virendra Vats Takes Charge as NCC DG

• Lieutenant General Virendra Vats has assumed charge as the Director General of the National Cadet Corps (NCC).
• The NCC has its genesis lin the “University Corps”, which was created under the Indian Defence Act 1917 with the object to make up the shortages of the Army.

Source: NCC NOA

2. India Re-Elected to ICAO Council for 2025-2028

• What
  • India has been re-elected to the Council of the International Civil Aviation Organisation (ICAO) for the 2025-2028 term under the Part-II category.
• Tell me more
  • The election took place during the 42nd ICAO Assembly Session in Montreal on September 27, 2025.
  • India’s focus for the new term includes aviation safety, security, sustainability, growth in air connectivity, and promotion of technology.
  • India also supports ICAO’s “No Country Left Behind” initiative.

Source: IE

Miscellaneous

1. Padma Vibhushan Pandit Chhannulal Mishra Passes Away

• What
  • Renowned Hindustani classical vocalist Pandit Chhannulal Mishra passed away in Mirzapur, Uttar Pradesh at the age of 89 after a prolonged illness.
• Tell me more
  • Born in Azamgarh in 1936, he was trained by his father Badri Prasad Mishra, Ustad Abdul Ghani Khan of Kirana gharana, and Thakur Jaidev Singh.
  • He was awarded the Padma Bhushan in 2010 and the Padma Vibhushan in 2020.
  • He excelled in Khayal, Thumri, Dadra, Chaiti, Kajri, and Bhajan styles.

Source: NOA

2. Veteran Gandhian G.G. Parikh Passes Away at 100

• Gandhian, socialist, and freedom fighter G.G. Parikh passed away in Mumbai at the age of 100.
• He was imprisoned during the Quit India movement in 1942 and again during the Emergency.

Source: NOA

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