Current Affairs 16 October 2026

PM Inaugurated Five Major Projects Worth ₹3,350 Crore in Ladakh

Prime Minister Narendra Modi inaugurated and dedicated five major development projects worth approximately ₹3,350 crore in Ladakh on 15 October 2026, through video conferencing. The projects focused on improving transportation, strengthening energy infrastructure, preserving archaeological heritage, and enhancing water security in the Union Territory.

List of Projects

• 1. New Passenger Terminal Building at Kushok Bakula Rimpochee Airport, Leh.
• 2. Nimmu–Padum–Darcha Road – A 298-km strategic road constructed by the Border Roads Organisation (BRO), connecting Ladakh with Himachal Pradesh through the Zanskar Valley.
• 3. Hanu Small Hydropower Project and Dah–Hanu–Khaltsi Transmission Line – A 9 MW hydropower project and an associated double-circuit transmission line to strengthen electricity infrastructure.
• 4. India’s First Rock Painting Conservation Park at Sindhu Ghat, Leh – Established to preserve prehistoric rock paintings and promote archaeological heritage conservation.
• 5. 40 Water Bodies under the Him Sarovar Project – Developed across 40 villages to improve water conservation, irrigation and agricultural water security.

CCEA Approves ₹52,878 Crore Strategic Disinvestment of IDBI Bank to Fairfax Financial Holdings

The Cabinet Committee on Economic Affairs (CCEA), on 14 October 2026, approved the strategic disinvestment of a 60.72% equity stake in IDBI Bank Limited to 10955230 Canada Inc., a company under Fairfax Financial Holdings Limited, for approximately ₹52,878.08 crore. The transaction involves the sale of shares held by the Government of India and the Life Insurance Corporation of India (LIC). Once completed, it is expected to become India’s largest Foreign Direct Investment (FDI) transaction in the financial sector, according to the government announcement.

IDBI Bank had previously faced serious financial difficulties due to high Non-Performing Assets (NPAs) and recurring losses. Consequently, the RBI placed the bank under its Prompt Corrective Action (PCA) Framework on 5 May 2017, imposing restrictions to improve financial stability. Following improvements in the bank’s financial position, the RBI lifted these restrictions on 10 March 2021, subject to conditions and continued monitoring.

Prompt Corrective Action (PCA) Framework: An RBI supervisory framework under which banks facing financial stress may be subjected to corrective measures based on specified indicators, such as capital adequacy, asset quality and leverage.

Bauxite Mining Proposal in Odisha Threatens Endangered Jeypore Ground Gecko

The Jeypore ground gecko, a rare and endangered reptile found in the Eastern Ghats of Odisha and Andhra Pradesh, is facing a serious habitat threat from a proposed bauxite mining project in Odisha’s Balda hills. The proposed open-cast mining project covers approximately 147 hectares of forest in the Nageswari Reserve Forest. Only four individuals of the species have been documented in the Balda hills over the past year, highlighting its extremely limited recorded population.

The Jeypore ground gecko (Geckoella jeyporensis) was first described in 1878 by British naturalist Richard Henry Beddome. After remaining unrecorded for approximately 130 years and being presumed extinct, the species was rediscovered in 2010 by herpetologists Ishan Agarwal and Aniruddha Datta-Roy in Odisha’s Koraput district.

National Social Assistance Programme (NSAP)

The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the continuation of the National Social Assistance Programme (NSAP) for five years, from 2026–27 to 2030–31, with a total financial outlay of ₹53,428 crore. The programme, implemented by the Ministry of Rural Development, provides social assistance to vulnerable sections, including elderly persons, widows, persons with disabilities and poor families facing the death of a breadwinner.

Under the revised framework, the government approved renaming the National Social Assistance Programme (NSAP) as the Prime Minister’s Social Assistance Scheme, along with changes to the names of its four sub-schemes. The pension schemes for elderly persons and widows, as well as the family benefit scheme, will continue in their existing form.

Revised Names of NSAP Schemes

Major Changes in Disability Pension

The Cabinet approved significant revisions to the Prime Minister’s Disability Pension Scheme to expand eligibility and improve financial assistance. The minimum benchmark disability requirement was reduced from 80% to 40%, bringing it into alignment with the Rights of Persons with Disabilities Act, 2016. The minimum age requirement was also removed, allowing eligible persons with disabilities to receive assistance from birth.

The revised central assistance under the Disability Pension Scheme will be ₹375 per month for beneficiaries aged 0–79 years and ₹625 per month for those aged 80 years and above.

The NSAP was originally launched on 15 August 1995, in accordance with the objectives of Article 41 of the Constitution, a Directive Principle of State Policy that calls upon the State, within its economic capacity and development, to make effective provisions for public assistance in cases such as old age, sickness and disablement.

Q1. India’s first rock painting conservation park, which was inaugurated as part of the ₹3,350 crore development projects in October 2026, was established at which of the following State/UT?
A. Maharashtra
B. Leh
C. Andhra Pradesh
D. Karnataka

Q2. Which of the following is NOT a key parameter used by the Reserve Bank of India (RBI) under the Prompt Corrective Action (PCA) Framework for banks?
A. Capital Adequacy
B. Asset Quality
C. Leverage
D. Foreign Exchange Reserves

Q3. What is the total financial outlay approved by the Union Cabinet for the continuation of the National Social Assistance Programme (NSAP), renamed as the Prime Minister’s Social Assistance Scheme, for the period 2026–27 to 2030–31?
A. ₹43,428 crore
B. ₹48,428 crore
C. ₹53,428 crore
D. ₹58,428 crore

Q4. The Jeypore ground gecko, which recently came into focus due to a proposed bauxite mining project in Balda hills, is primarily associated with which of the following mountain ranges?
A. Western Ghats
B. Aravalli Range
C. Eastern Ghats
D. Vindhya Range