Daily Current Affairs - 2026-10-12

Here's your one-stop roundup of the most exam-relevant current affairs for 12 October 2026, covering monetary policy, top defence and judicial appointments, multinational military exercises, flagship government schemes, international diplomacy, and India's stellar show at the Asian Games.

RBI hikes repo rate by 25 bps to 5.50%, shifts stance to 'calibrated tightening'

The Reserve Bank of India's Monetary Policy Committee, meeting from October 5-7, 2026, unanimously raised the policy repo rate by 25 basis points to 5.50% from 5.25%—its first hike since February 2023. The MPC changed its stance from 'neutral' to 'calibrated tightening' citing persistent inflationary pressures and global uncertainty. The Standing Deposit Facility (SDF) rate was adjusted to 5.25%, while the Marginal Standing Facility (MSF) and Bank Rate were raised to 5.75%. The RBI also revised FY27 GDP growth projection upward to 7.1% and projected CPI inflation at 5.2%. This is a high-priority topic for banking and economy sections across UPSC, SSC and Banking exams—remember the exact rates (Repo 5.50%, SDF 5.25%, MSF/Bank Rate 5.75%) and the new policy stance.

Air Marshal Ashutosh Dixit named next Chief of the Air Staff

The government announced that Air Marshal Ashutosh Dixit, currently Vice Chief of the Air Staff, will be the next Chief of the Indian Air Force. A fighter and test pilot with over 3,500 flying hours, he is set to take over as IAF Chief on October 31, 2026. Top military appointments like this are frequently asked in the defence current affairs section of UPSC and SSC exams.

Justice Sunita Agarwal takes oath as Supreme Court judge

Justice Sunita Agarwal was appointed to the Supreme Court of India and took her oath as a judge on October 6, 2026, a day after her appointment was notified. Her elevation is part of ongoing changes in the composition of the apex court bench. Supreme Court judge appointments are a recurring theme in judiciary and constitutional affairs questions.

Exercise Tarang Shakti 2026 concludes in Jodhpur with multinational participation

The second edition of Exercise Tarang Shakti, hosted by the Indian Air Force, was conducted at Jodhpur from September 26 to October 12, 2026. Seven countries—Australia, Bangladesh, France, Germany, Sri Lanka, the UAE and the USA—took part as active participants, while 32 nations attended as observers. The exercise aims to enhance interoperability and showcase India's growing defence diplomacy and indigenous air power capabilities, making it an important multinational military exercise for defence and international relations preparation.

PM Dhan-Dhaanya Krishi Yojana completes one year, shows sharp improvement in district scores

The Prime Minister Dhan-Dhaanya Krishi Yojana (PMDDKY), launched to boost agricultural productivity in 100 Aspirational Agricultural Districts, completed its first year on October 11, 2026. The average performance score of covered districts rose from 18.85 in April to 46.89 by August 2026. The scheme works through convergence of 36 Central schemes across 11 ministries with an annual outlay of ₹24,000 crore, benefiting an estimated 1.7 crore farmers. Districts were selected based on low productivity, low cropping intensity and low agricultural credit penetration—key scheme details worth remembering for government scheme-based questions.

India and Italy sign defence cooperation pact in Rome

Defence Minister Rajnath Singh met his Italian counterpart Guido Crosetto in Rome, where the two countries signed an agreement deepening bilateral defence cooperation. The pact, part of an unveiled Military Cooperation Plan for 2026-27, covers co-production of military hardware, maritime domain awareness, defence R&D, and industrial collaboration. The Indian Coast Guard also held discussions with Italian shipbuilder Fincantieri on advanced vessel designs—relevant for bilateral and defence diplomacy current affairs.

South African jurist Navi Pillay awarded 2026 Nobel Peace Prize

Navi Pillay, a South African jurist and former UN High Commissioner for Human Rights, was awarded the 2026 Nobel Peace Prize, announced as part of this year's Nobel Prize series declared between October 5 and October 12, 2026. Her recognition highlights contributions to international human rights and justice—a topic often referenced in exams covering international organisations and awards.

Punjab launches 'Meri Dukan, Mere Naam' scheme for shopkeepers

The Punjab Government launched the 'Meri Dukan, Mere Naam' scheme to grant ownership rights to eligible shopkeepers operating from rented or leased shops owned by urban local bodies. Sub-tenants occupying such shops have been excluded from the scheme's benefits. The initiative aims to provide tenure security and economic empowerment to small traders across the state. State-level welfare schemes like this are regularly asked in SSC and state PSC exams.

India finishes 4th at Asian Games 2026 with 85 medals; women's hockey wins historic gold

• India concluded its campaign at the 2026 Asian Games in Aichi-Nagoya, Japan with a total of 85 medals (21 gold, 27 silver, 37 bronze), finishing fourth in the medal table—its second-best tally ever at the Games.
• The women's hockey team won gold after beating China 1-0, ending a 44-year wait for the title and securing an LA 2028 Olympic quota.
• The men's hockey team successfully defended its title, beating Malaysia 5-1.
• India topped medal counts in archery, boxing, cricket, hockey and kabaddi.

Sports current affairs, especially medal tallies and historic wins, are a staple of the general awareness sections in SSC and Railway exams.

BRICS Traditional and Indigenous Sports Demonstration Games 2026 inaugurated in Ahmedabad

The Ministry of Youth Affairs and Sports, in collaboration with the Government of Gujarat, organised the BRICS Traditional and Indigenous Sports Demonstration Games 2026 at the Veer Savarkar Sports Complex in Ahmedabad. The event showcases traditional and indigenous sporting disciplines among BRICS member nations, reflecting India's cultural diplomacy initiatives. Such multilateral sporting and cultural events under groupings like BRICS are relevant for international relations sections of competitive exams.

That wraps up today's current affairs digest—revise these updates regularly to stay exam-ready for UPSC, SSC, Banking and Railway exams.