Daily Current Affairs 29 September 2026 focuses on developments with direct value for SSC, Banking, IBPS, SBI, UPSC and other competitive examinations. The emphasis is on the underlying policy, institutions, numbers and static-GK connections rather than headline repetition.
1. Supreme Court declines interim stay on UPI Merchant Discount Rate
The Supreme Court has declined to stay the Centre’s framework for a Merchant Discount Rate (MDR) on specified person-to-merchant (P2M) UPI transactions above ₹2,000. A bench headed by Chief Justice of India Justice Surya Kant, with Justices Joymalya Bagchi and V. Mohana, sought responses from the Centre, RBI and NPCI. The framework is scheduled to take effect from 15 October 2026. The Court has not finally decided the underlying challenge; the case remains under consideration.
The Ministry of Finance says all person-to-person UPI transactions will remain free. P2M payments up to ₹2,000 also remain outside MDR, and approximately 96% of merchant transactions are expected to remain unaffected. For specified merchant payments above ₹2,000, MDR is 0.4%, with a maximum of ₹300 for transactions of ₹75,000 and above. Certain essential and thin-margin sectors, including railways, telecommunications, insurance, fuel and agricultural inputs, have a flat ₹5 MDR for qualifying transactions above ₹2,000.
Why it matters
This is important Banking Awareness because it connects UPI, NPCI, RBI, the Payment and Settlement Systems Act, 2007 and the economics of payment infrastructure. Candidates must distinguish MDR from a consumer transaction fee. The government describes MDR as a charge within the merchant-payment ecosystem rather than a direct charge collected from ordinary users.
Static GK connection
- UPI is operated by the National Payments Corporation of India (NPCI).
- The Reserve Bank of India is the central banking and payment-system regulator relevant to the framework.
- The Payment and Settlement Systems Act, 2007 is an important statutory framework for payment systems in India.
- UPI was launched in 2016 and has become a major real-time retail payment system.
2. First 100-metre steel bridge launched for Mumbai–Ahmedabad Bullet Train Project
The Ministry of Railways reported the launch of a 100-metre-long steel bridge weighing 1,405 metric tonnes over NH-3 at Dive-Anjur village in Bhiwandi, Thane district, Maharashtra, for the Mumbai–Ahmedabad High-Speed Rail project.
The National High Speed Rail Corporation Limited (NHSRCL) is implementing the corridor. The Mumbai–Ahmedabad High-Speed Rail corridor is approximately 508 km long and passes through Maharashtra, Gujarat and the Union Territory of Dadra and Nagar Haveli and Daman and Diu.
Why it matters
The development links infrastructure, railway engineering and domestic manufacturing capability. For examinations, remember the numerical combination: 100 metres length, 1,405 MT weight and roughly 508 km corridor length.
Static GK connection
The Mumbai–Ahmedabad corridor is India’s first high-speed rail corridor. It is also an important example of India–Japan cooperation in transport technology and infrastructure.
3. ₹122 crore approved for Barbil–Bolanikhadan rail doubling project
Indian Railways has approved a ₹122 crore project to double a 6-km stretch between Barbil and Bolanikhadan in South Eastern Railway. The route is important for iron-ore movement and forms part of the Energy, Mineral and Cement Corridor.
The existing single-line section carries around 9 million tonnes per annum (MTPA), including about six loaded originating iron-ore rakes per day. After commissioning, the doubling is expected to facilitate an additional 8.9 MTPA of freight traffic.
| Parameter | Figure |
|---|---|
| Project cost | ₹122 crore |
| Section length | 6 km |
| Existing traffic | About 9 MTPA |
| Additional capacity | 8.9 MTPA |
| Originating iron-ore rakes | About 6 per day |
Exam connection
Barbil–Bolanikhadan should be linked with iron-ore logistics, mineral-producing regions, South Eastern Railway and freight-capacity expansion. Questions can combine the project cost with the route length or expected additional capacity.
4. Indian Armed Forces contingent departs for KAZIND-2026
An Indian Armed Forces contingent has departed for KAZIND-2026, the joint military exercise involving India and Kazakhstan. Such exercises are repeatedly tested in defence and international-relations sections through questions on participating countries, service components and exercise names.
For revision, maintain a separate exercise list rather than memorising exercises as isolated current-affairs headlines. KAZIND belongs to the India–Kazakhstan defence-engagement track and should not be confused with India’s exercises with Japan, France, the United States or other partners.
5. Akhil Gupta appointed Chairperson of Coforge
Coforge announced the appointment of Akhil Gupta as a Non-Executive Independent Director and Chairperson of the company, effective 29 September 2026, for a five-year period. Gupta is the former Vice Chairman of Bharti Enterprises and has more than four decades of professional experience.
The item is relevant to Banking and Business Awareness because corporate appointments are common one-mark questions. Candidates should also understand the distinction between executive management and the board-level role of a non-executive independent director.
6. GATE 2027 registration deadline extended
IIT Madras, the organising institute for GATE 2027, has extended registration without late fee until 5 October 2026. The extension is useful for students tracking national-level entrance examinations and for the static fact that GATE is organised jointly by the IITs and IISc under the GATE framework.
Possible MCQ areas
- What is MDR and on which UPI transaction category does the new framework apply?
- From which date is the specified UPI MDR framework scheduled to operate?
- Which organisation operates UPI?
- What is the length and weight of the newly launched Mumbai–Ahmedabad bullet-train steel bridge?
- What is the approximate length of the Mumbai–Ahmedabad High-Speed Rail corridor?
- What is the cost of the Barbil–Bolanikhadan doubling project?
- What additional freight capacity is expected from the Barbil–Bolanikhadan project?
- Which two countries participate in KAZIND?
- Who became Chairperson of Coforge effective 29 September 2026?
- Which IIT is organising GATE 2027?
Official sources
- Ministry of Finance – UPI framework
- Ministry of Railways – Steel bridge
- Ministry of Railways – Barbil–Bolanikhadan doubling
- Coforge – Chairperson appointment
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