24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)

Context: The Government released the 24th instalment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN), transferring over ₹18,690 crore to more than 9.34 crore farmers across the country through Direct Benefit Transfer (DBT).

About the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) 

• Launched on 24 February 2019, PM-KISAN is a Central Sector Scheme of the Government of India aimed at providing income support to landholding farmer families with cultivable land.

• Financial Assistance: Eligible farmer families receive ₹6,000 annually in three equal instalments of ₹2,000, directly credited to their Aadhaar-seeded bank accounts.

• Objectives: To supplement farmers' income, support agricultural investments in seeds, fertilisers, irrigation and machinery, reduce dependence on informal credit and strengthen rural household financial stability.

• Beneficiary Identification: State Governments identify eligible farmers and maintain beneficiary databases. 

• Benefits are subject to land-record verification, Aadhaar-linked bank accounts and mandatory e-KYC.

• Exclusion Criteria: Institutional landholders, income-tax payers, serving or retired government employees (subject to specified exceptions), PSU personnel and holders of constitutional posts are excluded.

• Fund Disbursement: The scheme uses DBT through the Public Financial Management System (PFMS) and the National Payments Corporation of India (NPCI), ensuring transparent and timely payments.

• Continuation: In July 2026, the Union Cabinet approved the scheme's continuation from 2026–27 to 2030–31, with a financial outlay of ₹3.15 lakh crore. 

High-Level Committee on Banking for Viksit Bharat

Context: The Union Budget 2026–27 announced the constitution of a High-Level Committee on Banking for Viksit Bharat to align India’s banking sector with its development vision for 2047.

About the High-Level Committee on Banking for Viksit Bharat

• Chairperson: Former Central Vigilance Commissioner Suresh N. Patel.

• Composition: Includes RBI Deputy Governor Shirish Chandra Murmu, former RBI Deputy Governor N. S. Vishwanathan and former Indian Bank MD and CEO Padmaja Chunduru.

• Tenure: Six months; Joint Secretary (Banking), Department of Financial Services, will serve as Member Secretary.

• Mandate: Recommend structural, institutional, regulatory and legislative reforms to make Indian banks globally competitive, inclusive and resilient.

• Key Areas: Review banking practices, prudential norms and regulatory frameworks, including Regional Rural Banks and Cooperative Banks; assess capital requirements, Priority Sector Lending and the Lead Bank Scheme.

• Technology: Develop a roadmap for artificial intelligence and digital innovation, with safeguards against cyber risks, alongside reforms in talent development and capacity building.

93rd General Council meeting of National Cooperative Development Corporation (NCDC)

Context: The 93rd General Council meeting of NCDC, chaired by Union Home Minister Amit Shah in New Delhi, reviewed its financial achievements and discussed a 25-year roadmap to strengthen cooperative-led development under the vision of ‘Sahkar se Samriddhi’.

Key Highlights

• Financial Performance: Cumulative disbursements reached ₹4,14,586 crore up to 25 October 2026. In FY 2025–26, NCDC disbursed ₹1,27,596 crore, earned ₹1,475 crore net profit and maintained zero net NPAs.

• 25-Year Roadmap: Focus on financial autonomy, capital mobilisation, institutional reforms and professional management.

• Future Targets: Disbursement targets of ₹3.5 lakh crore in FY 2029–30 and ₹4 lakh crore in FY 2030–31.

• Amendment Act, 2026: Enables wider financing avenues, including equity and share capital.

• Sahakar Navachar Yojana: Provides 100% grant assistance up to ₹25 lakh to eligible cooperatives.

• North-East: Target to achieve self-reliance in milk, eggs, fish and meat by 2030.

Rashtriya Ekta Diwas 2026

Context: Rashtriya Ekta Diwas is observed annually on 31 October to commemorate the birth anniversary of Sardar Vallabhbhai Patel and recognise his contribution to India's national integration.

About Rashtriya Ekta Diwas

• The day honours Sardar Vallabhbhai Patel, popularly known as the Iron Man of India, for his pivotal role in India's freedom struggle and the integration of princely states after independence.

• Objective: To promote national integration, communal harmony, patriotism and the spirit of unity in diversity, particularly among young citizens.

• The 151st birth anniversary of Sardar Vallabhbhai Patel was commemorated on 31 October 2026 at the Statue of Unity, Ekta Nagar, Gujarat.

• Bharat Parv 2026: To be celebrated from 1–15 November 2026 in Gujarat under the theme Ek Bharat Shreshtha Bharat, showcasing India's cultural diversity through traditional arts, crafts, performances and a multi-state food festival.