Daily Current Affairs - 1 October 2026

Overview

The 1 October 2026 Daily Current Affairs edition focuses on six developments with durable examination value available by 30 September. The selection includes a banking law coming into force today, new Rabi Minimum Support Prices, the Annual Survey of Industries results, a renewable-energy transmission scheme, National Coastal Mission 2.0 guidelines and new Corporate Average Fuel Economy norms.

The Bankers' Books Evidence Act was reported earlier as an upcoming law, but its commencement on 1 October 2026 is the new milestone for today's edition. Other routine cleanliness drives, ceremonial events, isolated enforcement actions and scheduled-only programmes were rejected. Revise the notes and attempt the Daily Current Affairs Quiz - 1 October 2026.

Banking and Law - Bankers' Books Evidence Act, 2026 Comes into Force

The Bankers' Books Evidence Act, 2026 came into force on 1 October 2026, replacing the Bankers' Books Evidence Act, 1891. Its purpose is to modernise the rules governing the use of banking records as evidence in court cases, inquiries, arbitrations and investigations. The commencement is the current development; the Act received Presidential assent on 13 August and the commencement notification was issued earlier.

The new framework is technology-neutral. A banker's book can include ledgers, day-books, cash-books and other records kept in the ordinary course of banking, whether in physical form or stored digitally. An electronic or digital record can be admitted as evidence when the required conditions about accuracy, authenticity, derivation and data integrity are satisfied. Certification may use manual, digital or electronic signatures.

The law continues the principle that a certified copy can prove the contents of a banker's book without routinely producing the original record. A bank officer is ordinarily not required to appear merely to prove a record when the bank is not a party. A court can require production or testimony where a written order records a special cause, such as uncertainty about authenticity or interruption in regular record-keeping.

The Central Government may extend the law to specified entities or classes operating in the financial sector by notification, with conditions or modifications. For examination purposes, remember the law's replacement of the 1891 Act, its recognition of digital banking records and its safeguards around certified copies and compelled production. Do not confuse evidentiary admissibility with a general rule that every electronic record is automatically accepted without authentication.

Source: PIB backgrounder on the Bankers' Books Evidence Act, 2026.

Agriculture and Economy - MSP for Rabi Marketing Season 2027-28

The Cabinet Committee on Economic Affairs approved higher Minimum Support Prices (MSP) for all mandated Rabi crops for Marketing Season 2027-28. The largest absolute increase is for safflower: ₹675 per quintal. The increases for rapeseed and mustard, lentil, barley, gram and wheat are ₹413, ₹390, ₹136, ₹83 and ₹25 per quintal respectively.

The approved MSPs are: wheat ₹2,610, barley ₹2,286, gram ₹5,958, lentil (masur) ₹7,390, rapeseed and mustard ₹6,613, and safflower ₹7,215 per quintal. The Cabinet note links the decision to the policy of fixing MSP at least 1.5 times the All-India weighted average Cost of Production, announced in Union Budget 2018-19.

MSP is an administered price-support benchmark for notified agricultural commodities. It should not automatically be described as the price received by every farmer or as a guarantee that all produce is procured. For the current development, the important distinction is between the Rabi marketing season 2027-28 and the previous 2026-27 MSP figures shown for comparison in the official table.

Source: PIB release on Rabi MSP for Marketing Season 2027-28.

Industry and Official Data - Annual Survey of Industries 2024-25

The Ministry of Statistics and Programme Implementation released the results of the Annual Survey of Industries (ASI) for 2024-25. The reference period is April 2024 to March 2025. ASI provides information on the structure and growth of registered manufacturing, including establishments, capital, input, output, Gross Value Added (GVA), employment, wages and profits.

The registered manufacturing sector had 2.67 lakh establishments, up from 2.60 lakh in the previous survey period. GVA increased by 9.59%, fixed capital by 10.54%, and the sector added more than 14 lakh persons engaged, taking estimated total employment beyond two crore. Industrial output grew by 7.81% and total employment by 7.19% over the previous year.

Tamil Nadu reported the highest number of establishments, followed by Gujarat and Maharashtra. The top five industries by GVA contribution were basic metals, motor vehicles, chemicals and chemical products, pharmaceuticals, and food products; together they contributed more than 45% of manufacturing GVA in 2024-25.

ASI is not the same as the Index of Industrial Production. IIP is a high-frequency index of industrial output, while ASI is a structural survey of registered manufacturing units and related indicators. That distinction matters because the two sources answer different economic questions.

Source: PIB release on ASI 2024-25 results.

Energy and Infrastructure - Green Energy Corridor Phase III

The Union Cabinet approved Green Energy Corridor Phase III (GEC-III) for strengthening the intra-State transmission system and integrating renewable electricity. The scheme is designed to enable evacuation of up to 135 GW of renewable energy across States and Union Territories.

GEC-III also provides for deployment of 50 GWh of Battery Energy Storage Systems (BESS) at renewable-energy developer or generator ends, or at other important locations. Storage can help manage renewable intermittency, transmission congestion, peak-hour curtailment and demand outside solar-generation hours.

The exam distinction is between renewable generation capacity and the network and storage needed to move and balance that electricity. The corridor scheme addresses grid integration and power evacuation within States and Union Territories; it is not itself a single power plant or a replacement for renewable generation projects.

Source: PIB release on Green Energy Corridor Phase III.

Environment and Blue Economy - National Coastal Mission 2.0

The Ministry of Environment, Forest and Climate Change launched guidelines for National Coastal Mission (NCM) 2.0 on 30 September. The Central Sector Scheme has an approved outlay of ₹767 crore and is to be implemented up to 2030-31 across nine coastal States and four Union Territories.

The mission's objectives include coastal vulnerability assessment, ecosystem restoration, pollution management, biodiversity conservation, sustainable tourism, spatial planning, research and capacity building. It also seeks to support a sustainable Blue Economy while improving coordination between the Union, coastal States and Union Territories.

The guidelines matter because they provide an implementation framework: they clarify institutional responsibilities, promote convergence with ongoing schemes, and strengthen monitoring and accountability. The mission should not be reduced to a beach-cleaning campaign or described as covering every Indian State. Its geographical scope is the coastal States and Union Territories identified by the scheme.

Source: PIB release on National Coastal Mission 2.0 guidelines.

Environment and Transport Regulation - New CAFE Norms

The Ministry of Power notified new Corporate Average Fuel Economy (CAFE) norms for passenger vehicles. They apply to new passenger vehicles manufactured or imported for sale in India from 1 April 2027 to 31 March 2032, replacing the existing norms from the beginning of that period.

The framework tightens the fuel-consumption benchmark year by year, from 3.996 litres per 100 kilometres in 2027-28 to 3.3273 litres per 100 kilometres in 2031-32. This represents an improvement of about 16.7% over five years. The technology-neutral framework is intended to support more efficient vehicles and the development of alternative-fuel, electric and hybrid technologies.

CAFE norms are fleet-level fuel-economy standards for manufacturers, not a direct fuel-economy guarantee for every individual vehicle. The policy is regulatory and forward-looking: it was notified on 30 September, while its operative period starts on 1 April 2027.

Source: PIB release on the new CAFE norms.

Quick Revision Table

Practice Quiz

Attempt the Daily Current Affairs Quiz - 1 October 2026 after revising the distinctions between a law's commencement and notification, MSP and procurement, ASI and IIP, transmission and generation, and fleet fuel-economy standards.

Source Attribution

This edition uses primary PIB releases and official government information available by 30 September 2026. The Bankers' Books Evidence Act was mentioned in the 12 September edition as an upcoming law; it is included today only because its operative commencement is 1 October. The other five topics are new approvals, results, guidelines or notified standards. Routine campaigns, scheduled events and isolated enforcement reports were excluded.

Frequently Asked Questions

Which law came into force on 1 October 2026?

The Bankers' Books Evidence Act, 2026, which replaced the Bankers' Books Evidence Act, 1891.

Which Rabi crop received the highest absolute MSP increase?

Safflower received the highest increase, at ₹675 per quintal.

What does ASI measure?

ASI measures the structure and performance of registered manufacturing, including output, GVA, employment, capital and related indicators.

What are the two headline capacities in GEC-III?

The scheme is designed for up to 135 GW of renewable-energy evacuation and 50 GWh of battery storage deployment.

What is the time period of the new CAFE norms?

They apply from 1 April 2027 to 31 March 2032 for new passenger vehicles manufactured or imported for sale in India.