Daily current affairs:October 1, 2025

Long Description : The Reserve Bank of India (RBI) expects the Indian economy to maintain a robust expansion with a projected GDP growth rate of 6.5% in 2025. This optimistic outlook is based on high consumption and strong public investment, particularly during April–June 2025, when growth peaked at 7.8%, a five-quarter high. The RBI cited declining inflation pressures and resilience in domestic demand but warned that underemployment remains a challenge, and emphasized the need for faster economic reforms to support job creation and sustainable growth.

Long Description : The Centre has revealed two cross-border railway initiatives—one spanning 69 km and the other 20 km—which will link Bhutan with bordering Indian states of Assam and West Bengal. These projects are designed to enhance bilateral trade, boost tourism, and stimulate economic development in the Northeastern region, while simultaneously strengthening strategic and economic ties with Bhutan. Both governments are expected to collaborate closely for timely completion, which will facilitate efficient movement of goods and people across the border.

Long Description : Shirish Chandra Murmu, currently holding key government advisory roles, has been named as the new Deputy Governor of the Reserve Bank of India. He will begin his term on October 9, 2025, succeeding M Rajeshwar Rao. The appointment was confirmed by the Appointments Committee of the Cabinet. Murmu’s expertise in administration and finance is expected to strengthen RBI’s regulatory and policy frameworks, especially as the central bank navigates evolving challenges in the banking sector.

Long Description : The Cold Desert Biosphere Reserve, covering 7,770 sq km in Lahaul-Spiti district, has achieved international recognition after being included in the prestigious UNESCO World Network of Biosphere Reserves. This brings India’s total UNESCO-listed biospheres to 13. The site’s unique cold desert environment, endemic flora and fauna, and traditional communities played a key role in earning this status. Inclusion will attract conservation funding and promote sustainable development in this ecologically sensitive region of Western Himalayas.

Long Description : Ahead of the 2025 Bihar assembly elections, the Election Commission has released the final updated electoral roll, which incorporates feedback from special revision drives and extensive voter verification campaigns conducted in August. With over 7.24 crore voters listed, the roll ensures transparency and inclusiveness. This exercise will contribute to more accurate polling and improve the integrity of the electoral process in Bihar, supporting the state’s democratic institutions.

Long Description : Effective October 1, 2025, the RBI allows banks to issue perpetual debt instruments (PDIs) in both rupee- and foreign-denominated bonds for inclusion in Additional Tier 1 (AT1) capital, up to 1.5% of their risk-weighted assets. This move is set to enhance the capital base of banks and provide more flexibility in resource mobilization. The regulatory shift is designed to make Indian banks more competitive globally and better equipped to handle financial shocks.

Long Description : Bank of Baroda (BoB) and IIFL Finance have entered into a co-lending partnership to improve access to credit through gold loans, focusing on agricultural and allied sectors. Under the arrangement, IIFL will originate and service gold loans, while BoB will provide the primary funding. The tie-up is expected to serve underserved customer segments by leveraging combined resources and outreach, promoting affordable credit solutions tailored for small borrowers and boosting productive borrowing in rural India.

Long Description : Tata AIG General Insurance and Equitas Small Finance Bank have launched a collaborative distribution arrangement that will enable Equitas customers to access a wide range of Tata AIG’s non-life insurance products at bank branches. This initiative leverages Equitas SFB’s extensive reach, particularly in underserved and remote locations. The strategic tie-up aims to enhance penetration of insurance products, promote financial inclusion, and offer tailored protection plans for both rural and urban clientele.

Long Description : The latest economic outlook by the Asian Development Bank (ADB) maintains India’s growth projection at 6.5% for 2025–26 and 2026–27. While the Indian economy demonstrated strong domestic consumption and investment, ADB notes potential risks from US-imposed tariffs on Indian merchandise exports. The forecast reflects expectations that robust service exports will partially offset weaker goods exports. Meanwhile, inflation is expected to moderate in FY26, supporting continued economic stability.

Long Description : Axis Bank’s latest innovation in digital banking—a gold-backed credit on the Unified Payments Interface (UPI) platform—seeks to provide a secure and seamless borrowing experience for customers using their gold as collateral. The collaboration with Freecharge enables rapid digital disbursal and flexible repayment, helping both urban and rural customers to access quick funds for emergencies or business needs using a familiar, tech-driven interface.

Long Description : Fintech leader PhonePe has partnered with Mastercard to rollout 'Tap & Pay', a next-generation contactless payment feature aimed at accelerating adoption of digital payments. The system leverages near-field communication (NFC) technology and works with compatible smartphones, offering a secure and efficient alternative to traditional cards or QR codes. The move supports India’s ongoing push towards a cashless economy by simplifying retail transactions across urban and rural markets.

Long Description : Indian para-athletes made a significant mark at the World Para Athletics Championships, winning medals and breaking records in multiple events. The competition, hosted in New Delhi, showcased India’s growing investment and talent in para-sports, with names like Sumit Antil standing out for their performance. Such achievements foster greater inclusivity in sports and place India as a competitive force on the international para-athletics stage.

Long Description : On October 1, India joined the United Nations in celebrating the International Day of Older Persons, drawing national attention to the challenges faced by the aging population. The government highlighted existing pension and health insurance initiatives, while experts called for more robust pension reforms and age-friendly urban planning. The day served as a reminder of the increasing need for comprehensive elder-care frameworks in the face of demographic shifts.

Long Description : The Women’s ODI Cricket World Cup 2025 kicked off with India facing Sri Lanka, and the Indian team emerged triumphant with an all-round performance, led by star Deepti Sharma. The convincing win demonstrates the depth and skill of the Indian women's squad, boosting national morale and energizing sports enthusiasts, while also drawing attention to the rising profile of women’s cricket in the country.

Long Description : The Election Commission’s release of the revised and final electoral roll for Bihar’s 2025 assembly polls marks a significant milestone for democratic participation in the state. The updated list includes more than 7.24 crore voters, underscoring large-scale civic engagement following special verification processes in August. The wide voter base sets the stage for a competitive and inclusive election, with authorities prioritizing efficient polling logistics.