General Awareness

BUSINESS AND ECONOMY - October 2021

Oct 2021

Oct 08, 2026

RBI increases repo rate to 5.50% on 7 October 2026

The Reserve Bank of India raised the repo rate by 25 basis points to 5.50 percent on 7 October 2026. The Monetary Policy Committee, chaired by Governor Sanjay Malhotra, unanimously approved the decision and moved from a neutral to a calibrated tightening stance. The move aims to curb inflation while maintaining economic stability and growth momentum. Banks and borrowers can expect higher lending costs. The RBI signalled a careful balancing of inflation risks with growth, in line with its latest policy communications.

Rate hike: 25 bps to 5.50% (7 Oct 2026)
Policy stance: from neutral to calibrated tightening
Chair: Governor Sanjay Malhotra
Reason: to control inflation while supporting growth
Market impact: potential higher loan costs

Oct 06, 2026

Bharat Forge signs long-term aerospace contract with Pratt & Whitney Canada

Bharat Forge Ltd signed a long‑term contract with Pratt & Whitney Canada on 5 October 2026 to supply mission‑critical aerospace engine components. The parts will be manufactured at Bharat Forge’s aerospace facility in India, designed to produce high‑performance aero‑engine products and to meet global standards for quality, precision, reliability and traceability. The deal strengthens Bharat Forge’s role as a supplier for international aerospace customers and supports multiple programmes in both civil aviation and defence sectors. Company officials emphasized strong quality controls and end‑to‑end traceability, with strict supplier audits and on‑time delivery commitments. The agreement underscores India’s expanding capabilities in high‑value manufacturing.

Date: 5 October 2026.
Partner: Bharat Forge and Pratt & Whitney Canada.
Products: mission‑critical aerospace engine components.
Facility: Bharat Forge’s aerospace plant in India.
Emphasis: quality, traceability and on‑time delivery.

Oct 02, 2026

Anup Kumar Saha appointed Kotak Mahindra Bank MD and CEO

Kotak Mahindra Bank received approval from the Reserve Bank of India in October 2026 for the appointment of Anup Kumar Saha as its Managing Director and Chief Executive Officer. Saha's three-year tenure is scheduled to begin on 1 January 2027. He will succeed Ashok Vaswani, whose term as MD and CEO ends on 31 December 2026. The appointment marks a leadership transition at one of India’s major private-sector banks. Saha previously served in key positions within the bank, including head of corporate and investment banking, and is expected to steer strategy, technology integration, and customer growth. The RBI approval followed a formal governance review by the bank.

RBI approves Anup Kumar Saha as Kotak Mahindra Bank MD & CEO in October 2026.
Tenure starts 1 January 2027; successor to Ashok Vaswani (ends 31 December 2026).
Saha previously led corporate and investment banking at Kotak Mahindra Bank.
Expectations include strategic alignment, technology integration, and customer growth.
Approval followed internal governance review.

Sep 30, 2026

FICCI FRAMES 2026 held in Mumbai with industry focus

The 26th edition of FICCI FRAMES 2026 took place in Mumbai, Maharashtra, bringing together leaders from the media and entertainment sectors. Organized by the Federation of Indian Chambers of Commerce and Industry (FICCI), the convention highlighted developments in films, television, animation, gaming, and digital media. The event featured panel discussions, product showcases, and networking sessions designed to shape India’s creative economy. The theme, 'India’s Media Moment: Creating Value in an Age of Infinite Content,' focused on monetization, audience engagement, and new distribution models. Delegates from government, industry, and academia discussed policy support, investment opportunities, and collaboration across platforms to accelerate growth.

26th FICCI FRAMES held in Mumbai, 2026
Sectors covered: films, TV, animation, gaming, digital media
Theme focuses on value creation in content abundance
Panels and showcases for industry growth
Policy and investment discussions with government and industry

Apple Pay launches in India with Axis Bank

Apple Pay launched its digital payment service in India in collaboration with Axis Bank, marking a significant step in the country’s mobile wallet ecosystem. The service enables contactless payments through Apple devices by adding eligible cards to Apple Wallet. It uses tokenisation, device-level security, and biometric authentication to protect payment information. Merchants adopting the system can offer faster checkouts, while customers gain convenient access to a wide range of cards. Axis Bank will issue cards compatible with Apple Pay, and partnerships with additional banks are expected. The launch aims to expand digital payments in India and spur financial inclusion. The rollout will cover major metros first, with gradual expansion nationwide.

Apple Pay launches in India with Axis Bank
Contactless payments via Apple Wallet and tokenisation
Axis Bank to issue compatible cards; more banks expected
Aims to expand digital payments and financial inclusion
Initial rollout targets major metros

Sep 29, 2026

Gulbarga Tur Dal GI-tagged export to Maldives begins

Gulbarga Tur Dal, a Geographical Indication (GI)-tagged agricultural product from Karnataka, was exported to the Maldives with support from APEDA. About 1 metric tonne of Gulbarga Tur Dal was shipped as part of efforts to expand global markets for India’s GI-tagged products. The initiative aims to provide greater opportunities for Farmer Producer Organisations (FPOs) to participate in international trade and to diversify export markets beyond traditional buyers. APEDA emphasized that such exports foster value addition, raise farmer incomes, and showcase Karnataka's agricultural heritage on a global stage.

Product: Gulbarga Tur Dal (GI-tagged)
Export destination: Maldives
Quantity: ~1 metric tonne
Support: APEDA
Aim: Expand GI exports and farmer opportunities

NMDC inaugurates ₹5,427 crore iron ore processing project in Chhattisgarh

NMDC Ltd. inaugurated a major integrated iron ore processing project valued at ₹5,427 crore in September 2026, located in Chhattisgarh. The package includes an iron ore processing plant at Bacheli, a 15 million tonne per annum slurry pipeline, and a 2 million tonne per annum pellet plant at Nagarnar. The facilities will enable NMDC to process fines and slimes from the Bailadila mines into concentrate, strengthening India’s steel sector and reducing ore losses during transport. Officials anticipate improved ore quality, enhanced logistics efficiency, and higher export potential as part of a broader push to expand domestic mineral value chains and steel production.

Investment: ₹5,427 crore
Locations: Bacheli (plant) and Nagarnar (pellet plant)
Capacities: 15 MTPA slurry pipeline; 2 MTPA pellet plant
Purpose: Process fines/slimes into concentrate
Impact: Strengthens steel sector, improves logistics

India ranks 31st in WEF Travel & Tourism Development Index 2026

India was ranked 31st among 110 economies in the World Economic Forum's Travel and Tourism Development Index 2026, released on 25 September 2026. The country rose from 39th position in 2024, as improvements in tourism infrastructure, accessibility, and destination resilience supported growth in travel and tourism. Japan topped the index, with several advanced economies following. The report underscores ongoing policy reforms, investment in hospitality, and digital-enabled services as key drivers. Analysts say the ranking provides a benchmark to guide investment, marketing, and policy decisions to sustain deepening tourism-led growth in the coming years.

Release date: 25 September 2026
India rank: 31/110
Previous rank (2024): 39
Top country: Japan
Implication: Guides policy and investment decisions

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