1. European Protests and India’s Stance
SUBJECT: INTERNATIONAL
• India urged restraint in UNSC over European protests against Israel’s Gaza flotilla interception, calling for humanitarian corridors and ceasefire adherence.
• External Affairs Minister Jaishankar emphasized two-state solution and IHL compliance during bilateral meets with EU envoys.
• The position aligns with India’s $500 million aid to Palestine and abstention on recent Gaza resolutions.
• It counters China’s narrative, bolstering India’s Global South leadership.
• Concepts: Article 51: Peaceful dispute resolution; UN Charter: Promotion of human rights.
• India’s balanced voice enhances its mediator role in West Asia.
2. RBI’s Unclaimed Deposits Drive
SUBJECT: ECONOMY
• RBI launched a 12-month incentive scheme for banks to reunite ₹25,000 crore in unclaimed deposits with owners, offering 1% of reunited amounts as rewards.
• The initiative uses AI-driven UPI linkages and Aadhaar verification to trace 10 crore dormant accounts, targeting seniors and NRIs.
• It builds on 2024’s success, reuniting ₹15,000 crore, and includes public awareness via RBI’s ‘Uttam Jeevan’ portal.
• Expected to reduce fiscal leakages and boost financial inclusion under PMJDY.
• Concepts: Banking Regulation Act, 1949: Mandates deposit insurance; Digital India: Enhances traceability.
• This promotes a transparent banking ecosystem.
3. National Pulses Mission Approval
SUBJECT: ECONOMY
• Cabinet approved ₹2,500 crore National Pulses Mission to raise production 20% to 30 million tonnes by 2030, focusing on drought-resistant varieties in 200 rainfed districts.
• It integrates FPOs and contract farming, aiming to cut ₹1 lakh crore import bill and stabilize dal prices at ₹150/kg.
• Pilots in Madhya Pradesh and Rajasthan target tur and moong, with MSP hikes of 8-10%.
• Aligns with Atmanirbhar Bharat for food security.
• Concepts: Article 48A: Environmental protection in agriculture; PM-AASHA: Price support mechanisms.
• Boosts farmer incomes by 50% in pulse belts.
4. Retail Inflation at 2.07%
SUBJECT: ECONOMY
• August CPI inflation rose to 2.07% from July’s 1.8%, driven by 3% vegetable price hike, while core inflation held at 4.2%; MPC kept repo at 6.25% for growth balance.
• RBI projects Q3 FY26 at 3.5%, citing monsoon gains but global oil risks at $75/barrel.
• Focus shifts to transmission of 50 bps cuts since February.
• Supports 7% GDP forecast amid festive demand.
• Concepts: RBI Act, 1934: Inflation targeting at 4%±2%; Fiscal Responsibility Act: Debt sustainability.
• Signals monetary policy pivot to growth.
5. UN Peacekeeping Conclave in Delhi
SUBJECT: DEFENCE
• Indian Army to host UN Troop Contributing Countries’ Chiefs Conclave on October 14-16, showcasing tech like Drona UAVs and sharing lessons from 280,000 peacekeeper deployments.
• As top contributor with 5,000 troops in Congo and South Sudan, India pushes for ‘Protection of Civilians’ mandate enhancements.
• Discussions on hybrid threats and gender parity in missions.
• Aligns with UNSC reforms advocacy.
• Concepts: UN Charter Chapter VII: Peace enforcement; India’s Non-Alignment: Evolving to multilateralism.
• Reinforces India’s global peacekeeping stature.
