Here is today’s **Daily Current Affairs Digest (26 October 2026)**, exam linkages across all target exams (UPSC, State PCS, RRB, BPSC, SSC, Banking, and Teaching), and practice MCQs with collapsible answer keys.
PIB & RBI Official
Daily Current Affairs Digest & PIB Summary – 26 October 2026
🎯 Target Exams: UPSC CSE, State PCS, RRB NTPC/JE/Section Controller, BPSC, SSC CGL, IBPS PO, Teaching
📌 Sources: PIB Delhi, Ministry of Education, RBI Bulletins, BIADA Releases
📌 High-Yield Exam Index Today
- UPSC & State PCS (GS-2 Social Justice / Education): Launch of PM Vidyalaxmi Scheme for collateral-free education loans in top NIRF institutions.
- Railways & Tech (RRB NTPC / JE / Section Controller): Spectrum Allocation of 700 MHz Band for LTE-R (Long Term Evolution for Railways) to support Kavach 4.0.
- BPSC State Special (Bihar Civil Services / TRE): Bihar MSME Industrial Promotion Policy 2026 & BIADA 99-Year Leasehold Reforms.
- Banking & SSC (IBPS / RBI / SSC CGL): RBI Directive on Centralized KYC (CKYC) Mandate for Seamless Digital Onboarding.
1. PM Vidyalaxmi Scheme: Collateral-Free Education Loans for Top 860 NIRF Institutions
Context: The Union Cabinet approved the rollout of PM Vidyalaxmi, a new Central Sector Scheme designed to ensure financial constraints do not prevent meritorious students from pursuing higher education in premier Indian institutions.
🔍 PIB Fact File: Key Provisions of PM Vidyalaxmi Scheme
| Feature Parameter | Scheme Specification |
|---|---|
| Eligible Institutions | Top 860 Higher Educational Institutions (NIRF overall rank ≤ 100, plus state government HEIs ranked 101–200). |
| Loan Structure | Collateral-free and guarantor-free loans covering full tuition fees and course-related expenses up to ₹10 Lakhs. |
| Credit Guarantee Cover | 75% credit guarantee provided by the Government of India to banks via NCGTC for loans up to ₹7.5 Lakhs. |
| Interest Subvention | 3% interest subvention during moratorium period for students with annual family income up to ₹8 Lakhs. |
Key Exam Takeaways:
- Digital Portal: Administered through a unified digital portal managed by the Department of Higher Education (Ministry of Education).
- Target Coverage: Benefits over 22 lakh students annually across government and private top-tier institutions.
2. LTE-R Spectrum Allocation: Upgrading Rail Communication for Kavach 4.0
Context: The Ministry of Railways has finalized the deployment plan for LTE-R (Long Term Evolution for Railways) in the 700 MHz frequency band, gradually replacing the legacy GSM-R network across high-density rail routes.
⚙️ Technical Notes for RRB NTPC, JE & Section Controller
- Frequency Band: 5 MHz spectrum allocated in the 700 MHz band (paired) for dedicated railway safety communications.
- Integration with Kavach 4.0: LTE-R provides high-bandwidth, ultra-low-latency direct radio communication between Loco-Kavach and Station-Kavach units, replacing vulnerable UHF/VHF links.
- FRMCS Transition Path: Serves as the stepping stone toward 5G-based Future Railway Mobile Communication System (FRMCS).
3. Bihar MSME Promotion Policy 2026 & BIADA Land Lease Reforms
Context: The Bihar Industrial Area Development Authority (BIADA) under the Department of Industries introduced revised land allotment norms to accelerate MSME clustering across North and South Bihar industrial parks.
🎯 High-Yield Points for BPSC Prelims & Mains
- 99-Year Leasehold System: Industrial land allotment period under BIADA increased from 30 years to a 99-year leasehold model with mortgaging rights for bank loans.
- Capital Subsidy for MSMEs: 15% to 25% capital subsidy on plant and machinery investments in Tier-2 and Tier-3 districts (e.g., Purnia, Saharsa, West Champaran).
- Pledge Parks Scheme: Private industrial park developers offered up to ₹5 Crore incentive per park for creating plug-and-play factory sheds.
4. RBI Master Direction: Centralized KYC (CKYC) Registry Integration Mandate
Context: The Reserve Bank of India (RBI) mandated all Regulated Entities (REs)—including Commercial Banks, NBFCs, and Payment Banks—to upload individual and legal entity KYC records onto the CKYCR portal managed by CERSAI within 14 days of customer onboarding.
- CERSAI Role: Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) operates the CKYC platform.
- 14-Digit KIN: Every onboarded customer receives a unique 14-digit KYC Identifier Number (KIN) eliminating duplicate KYC processes across financial institutions.
📝 Target Practice Questions
Q1. Under the newly approved ‘PM Vidyalaxmi Scheme’, what percentage of credit guarantee is provided by the Central Government to banks for education loans up to ₹7.5 Lakhs?
(a) 50% (b) 60% (c) 75% (d) 100%
View Answer & Explanation
Correct Answer: (c) 75%
Explanation: The Government of India provides a 75% credit guarantee to lending banks through NCGTC for loans up to ₹7.5 Lakhs under the PM Vidyalaxmi Scheme.
Q2. Which frequency spectrum band has been dedicatedly allocated by the Ministry of Railways for implementing LTE-R technology?
(a) 450 MHz (b) 700 MHz (c) 1800 MHz (d) 2300 MHz
View Answer & Explanation
Correct Answer: (b) 700 MHz
Explanation: The 700 MHz band (5 MHz paired spectrum) is specifically reserved for Indian Railways’ LTE-R broadband network to power real-time train safety and Kavach communication.
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