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DAILY EDITION

Daily Current Affairs 2 November 2026 with MCQs & Static GK

Here are today's top competitive exam current affairs updates based on recent national and international developments.

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🇮🇳 National 🛡️ Defence 📝 Practice MCQs (5)
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National Current Affairs

CBIC Notifies Key GST Changes under Finance Act, 2026 Effective from November 01, 2026

  • CBIC appointed November 01, 2026, as the effective date for key GST changes under Section 1(2)(b) of the Finance Act, 2026.
  • Amended Section 15(3)(b) allows post-supply discounts to be excluded from supply value without prior agreement or strict invoice-wise linkage, provided the recipient reverses the ITC.
  • Section 54(6) extends provisional refunds to inverted duty structure claims, allowing businesses to receive 90% of eligible refunds provisionally within 7 days.
  • Amended Section 54(14) removes the Rs 1,000 minimum refund restriction specifically for tax paid on exported goods.
STATIC GK BOOSTER: Central Board of Indirect Taxes and Customs (CBIC)
Role: Statutory body governing indirect taxes in India
Parent Department: Department of Revenue, Ministry of Finance

GoI Constitutes High-Level Committee on Banking for Viksit Bharat Chaired by Suresh N. Patel

  • The Ministry of Finance constituted a High-Level Committee on Banking for Viksit Bharat with a six-month tenure, chaired by former CVC Suresh N. Patel.
  • The committee was announced during the Union Budget FY 2026-27 presentation by Finance Minister Nirmala Sitharaman.
  • Members include Shirish Chandra Murmu (Deputy Governor, RBI), Padmaja Chunduru (former MD & CEO, Indian Bank), and N S Vishwanathan (former Deputy Governor, RBI).
  • The committee is tasked with reviewing banking regulations and recommending reforms to align with Viksit Bharat 2047 goals.
STATIC GK BOOSTER: Reserve Bank of India (RBI)
Role: Central Banking Institution of India
Headquarters: Mumbai, Maharashtra

PM Narendra Modi Inaugurates ESTIC 2026 at Bharat Mandapam, New Delhi

  • PM Narendra Modi inaugurated the 2nd edition of the Emerging Science, Technology and Innovation Conclave (ESTIC 2026) held from October 27 to 29, 2026.
  • Organized by CSIR and CSIR-NIIST under the theme 'Creative Minds, Catalyzing Science, Empowering Technologies'.
  • The conclave centered around 12 key thematic areas, including autonomous AI, biotechnology, and quantum communication.
  • Introduced the 'Global Connect Networking Event' featuring over 300 international and academic participants to foster partnerships.
STATIC GK BOOSTER: Council of Scientific and Industrial Research (CSIR)
Founded: 1942
Headquarters: New Delhi, Delhi

Department of Posts Releases Postage Stamps on Breast Cancer Awareness

  • The Department of Posts released a special souvenir sheet with two commemorative stamps (face values Rs. 25 and Rs. 50) and picture postcards.
  • Unveiled jointly by DG Postal Services Manisha Sinha and MoHFW Secretary Punya Salila Srivastava during International Breast Cancer Awareness Month.
  • The initiative supports the National Programme for Prevention and Control of Non-Communicable Diseases (NP-NCD).
STATIC GK BOOSTER: Department of Posts (DoP)
Headquarters: Dak Bhawan, New Delhi
Parent Ministry: Ministry of Communications

MoLE Constitutes National Social Security Boards for Unorganised, Gig, and Platform Workers

  • Ministry of Labour and Employment constituted two National Social Security Boards under the Code on Social Security, 2020.
  • Both boards have a 3-year tenure and are chaired by Union Minister Mansukh Mandaviya.
  • The Gig and Platform Workers' Board includes aggregators like Eternal Group, Swiggy, Zepto, Urban Company, and Rapido, alongside union representatives.
  • The Code on Social Security, 2020, came into effect on November 21, 2025, consolidating nine central labor laws.
STATIC GK BOOSTER: Ministry of Labour and Employment
Secretary: Dr. Chandra Bhushan Kumar
Union Minister: Mansukh Mandaviya

IN-SPACe Grants Up to Rs 1 Crore Each to Six Private Space Startups under AI INSPIRED

  • IN-SPACe selected six space startups for seed funds of up to Rs 1 crore each under the AI INSPIRED programme.
  • The program has an overall outlay of Rs 6 crore targeting Edge Intelligence in Orbit, Space for Earth Intelligence, and Smart Access to Space.
  • Selected startups include Agnikul Cosmos, Digantara, EON Space Labs, OrbitAid Aerospace, Omnipresent Robot Technologies, and TakeMeToSpace.
STATIC GK BOOSTER: IN-SPACe
Chairman: Dr. Pawan Goenka
Established: June 24, 2020
Headquarters: Ahmedabad, Gujarat

World Bank Report: India’s Poverty Rate Drops to 2.6% in 2023

  • World Bank released the 'India Poverty and Equity Brief: October 2026', stating India's extreme poverty fell from 27.1% (2011) to 2.6% (2023).
  • About 496 million people moved above the lower-middle-income poverty line of USD 4.20 per day (2021 PPP).
  • Multidimensional non-monetary poverty declined from 53.8% (2005-06) to 16.4% (2019-21).
STATIC GK BOOSTER: World Bank Group
Report Name: India Poverty and Equity Brief
Headquarters: Washington, D.C., USA

ADB Approves USD 139.55 Million Loan for Urban Development in Puducherry

  • Asian Development Bank approved a USD 139.55 million loan for the Puducherry Integrated Urban Livability Improvement Project (PIULIP).
  • Marks ADB's first project engagement in the Union Territory of Puducherry.
  • Includes upgrading 100 km of water networks, laying 80 km of new pipelines, and building a 50 MLD sewage treatment plant.
STATIC GK BOOSTER: Asian Development Bank (ADB)
Focus Area: Economic and Urban Development in Asia-Pacific
Headquarters: Mandaluyong, Philippines

Upstox Obtains SEBI Approval as Online Bond Platform Provider (OBPP)

  • Brokerage firm Upstox received SEBI approval to operate directly as an Online Bond Platform Provider (OBPP).
  • Allows direct offering of corporate bonds starting at investments of Rs. 1,000.
  • Replaces Upstox’s previous third-party distribution arrangement with IndiaBonds.
STATIC GK BOOSTER: Upstox (Upstox Securities Pvt Ltd)
CEO: Ravi Kumar
Founded: 2009 (as RKSV Securities)
Headquarters: Mumbai, Maharashtra

Prasar Bharati Engineer Wins ABU Broadcast Engineering Excellence Award 2026

  • Nongmaithem Nandakumar Singh of Prasar Bharati was awarded the ABU Broadcast Engineering Excellence Award 2026.
  • Recognized for developing 'DDPlayout' (indigenous playout software) and 'DDSlowMo' (slow-motion replay system).
  • The award was presented during the 63rd ABU General Assembly in Colombo, Sri Lanka.
STATIC GK BOOSTER: Prasar Bharati
Chairman: Prasoon Joshi
Established: November 23, 1997
Headquarters: New Delhi, Delhi

Jatin Kumar Nayak Appointed as CMD of IREDA

  • Jatin Kumar Nayak appointed as Chairman and Managing Director (CMD) of Indian Renewable Energy Development Agency Limited (IREDA).
  • Succeeded Dr. Bijay Kumar Mohanty, who was holding the additional charge of CMD.
  • Previously served as Executive Director (Finance) at REC Limited.
STATIC GK BOOSTER: IREDA
Status: Navratna CPSE
Parent Ministry: Ministry of New and Renewable Energy (MNRE)

Air Marshal Inderpal Singh Walia Appointed as Next Vice Chief of the IAF

  • Air Marshal Inderpal Singh Walia appointed as the Vice Chief of the Air Staff (VCAS) effective November 1, 2026.
  • Succeeds Air Marshal Ashutosh Dixit, who assumed the role of 29th Chief of the Air Staff (CAS).
  • Awarded Vayu Sena Medal (2008) and Ati Vishisht Seva Medal (2018).
STATIC GK BOOSTER: Indian Air Force (IAF)
Established: October 8, 1932
Headquarters: New Delhi, Delhi

ISRO Successfully Launches NVS-03 Satellite Aboard GSLV-F18

  • ISRO launched its next-generation navigation satellite NVS-03 aboard GSLV-F18 from Sriharikota, Andhra Pradesh.
  • Restores India's NavIC system to its minimum operational configuration of four satellites.
  • Thomas Kurian served as the GSLV Project Director and Mission Director.
STATIC GK BOOSTER: ISRO
Launch Site: Satish Dhawan Space Centre (SDSC), Sriharikota
Satellite Series: NavIC / NVS Series

Former Rajya Sabha MP Ravindra Kishore Sinha Passes Away at 75

  • Veteran BJP leader and former Rajya Sabha MP Ravindra Kishore Sinha passed away at age 75 in Noida.
  • Founded Security and Intelligence Services (SIS) in 1974.
  • Served as a war correspondent during the 1971 India–Pakistan War and as a Rajya Sabha MP from Bihar (2014–2020).
STATIC GK BOOSTER: Security and Intelligence Services (SIS)
Founder: Ravindra Kishore Sinha
Founded Year: 1974

National Unity Day Observed on October 31, 2026

  • National Unity Day (Rashtriya Ekta Diwas) observed on October 31 to mark the 151st birth anniversary of Sardar Vallabhbhai Patel.
  • First observed in 2014 following the announcement by Prime Minister Narendra Modi.
  • Major celebrations held at the Statue of Unity in Ekta Nagar, Gujarat.
STATIC GK BOOSTER: Statue of Unity
Location: Ekta Nagar, Gujarat
Dedicated to: Sardar Vallabhbhai Patel

World Vegan Day Celebrated Globally on November 1, 2026

  • World Vegan Day observed on November 1, 2026, marking the 32nd anniversary of the day and the 82nd anniversary of The Vegan Society.
  • Established in 1994 by Louise Wallis, then Chair of The Vegan Society.
  • The term 'Vegan' was originally coined by Donald Watson in November 1944.
STATIC GK BOOSTER: The Vegan Society
Founded: November 1944 by Donald Watson
First WVD: 1 November 1994
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Defence Current Affairs

Union MoS Sanjay Seth Inaugurates VISV-2026 at Manekshaw Centre

  • Union MoS for Defence Sanjay Seth inaugurated 'विश्व-2026 (VISV-2026)' under the theme 'Showcasing Defence Capabilities, Strengthening Global Partnerships'.
  • Organized jointly by DRDO and the Centre for Joint Warfare Studies (CENJOWS).
  • The initiative is guided by four core pillars: Vision, Innovation, Synergy, and Values.
  • A foreign-language compendium of DRDO products was released in Arabic, Spanish, and French to promote exports.
STATIC GK BOOSTER: Centre for Joint Warfare Studies (CENJOWS)
Founded: August 27, 2007
Headquarters: New Delhi, Delhi
Interactive Practice Quiz

Today's Current Affairs Practice Quiz

Test your retention with instant feedback, official answer keys, and exam-oriented explanations.

Progress: 0 of 5 answered Live Score: 0
Q1.
What is the provision introduced under the amended Section 15(3)(b) of the Finance Act, 2026?
Q2.
Who chairs the High-Level Committee on Banking for Viksit Bharat constituted by the Ministry of Finance?
Q3.
According to the World Bank's October 2026 report, India's extreme poverty rate declined to what percentage in 2023?
Q4.
Which satellite was launched by ISRO aboard GSLV-F18 on October 30, 2026?
Q5.
Who has been appointed as the Chairman and Managing Director (CMD) of IREDA in October 2026?