Daily Current Affairs 24-10-2026 (English)

1. False Information in Election Affidavits: Supreme Court Ruling

Why in the News?

According to a report published on 19 October 2026, the Supreme Court clarified that a private individual can also file a complaint against a candidate for furnishing false information or concealing material facts in an election affidavit. The matter relates to Section 125A of the Representation of the People Act, 1951.

Key Facts

1. Section 125A of the Representation of the People Act, 1951

This section provides punishment for knowingly making false statements or concealing required information in nomination papers or election affidavits.

The punishment may include:

• Imprisonment for up to six months;
• A fine; or
• Both imprisonment and a fine.

The provision applies under the circumstances specified in the Act.

2. What did the Supreme Court clarify?

In Rajkumar Madki v. Dr. Shailendra Beldale, the Court held that a complaint under Section 125A does not invariably require a complaint from a designated public official. A private individual may also file such a complaint.

However, the Court did not revive the criminal proceedings that had already been quashed in the particular case. It also clarified that magistrates have appropriate powers to deal with complaints filed without a proper basis or with the intention of causing harassment.

3. Link with the Voter’s Right to Information

The Supreme Court has previously recognised that a voter’s right to know relevant details about a candidate is an important component of democracy. This right is linked to Article 19(1)(a) of the Constitution.

Constitutional and Legal Significance

• It can strengthen electoral transparency and accountability.
• It can help voters obtain accurate information about candidates.
• It clarifies the legal route for action against false affidavits.
• It is equally important to distinguish genuine violations from frivolous complaints.

Important Facts for UPSC Prelims

Note: The Supreme Court’s conclusion concerning Section 195 of the CrPC was specific to the offence under Section 125A. It should not be treated as a general rule applicable to every electoral offence.

Mains Practice Question

“Examine the role of a voter’s right to information and candidate accountability in ensuring free and fair elections.” (150 words)

2. RBI’s Basel Leverage Ratio Standards

Why in the News?

According to reports dated 23 October 2026, the Reserve Bank of India (RBI) issued revised regulatory directions concerning the Leverage Ratio for commercial banks. These directions are scheduled to take effect from 1 April 2027. Their objective is to broaden the calculation of banks’ total exposure.

What Is the Leverage Ratio?

The Leverage Ratio is a regulatory indicator that measures a bank’s Tier-1 Capital against its total exposure.

Formula:

Leverage Ratio = (Tier-1 Capital / Total Exposure) × 100

It is an important measure of a bank’s financial strength. Unlike risk-weighted capital ratios, it uses a broader measure of exposure, helping prevent banks from understating their financial risks through excessive borrowing or balance-sheet expansion.

Key Features of the Revised Rules

• Broader exposure calculation: Rules concerning derivatives, repo transactions and off-balance-sheet commitments have been made more comprehensive.
• Minimum ratios retained: The minimum ratio remains 4% for domestic systemically important banks (D-SIBs) and 3.5% for other banks.
• Improved disclosure: Greater transparency in reporting banks’ exposures has been emphasised.
• Effective date: 1 April 2027.

Role of the Basel Committee

The Basel Committee on Banking Supervision develops international standards for banking regulation. Its objective is to make the banking system safer and more resilient.

Under Basel III, the Leverage Ratio was introduced as a safeguard so that banks do not rely exclusively on risk-weighted capital calculations and maintain adequate capital relative to their overall exposures.

Significance for India

1. Helps control risks arising from excessive leverage in the banking system.
2. Strengthens banks’ ability to absorb losses during financial stress.
3. Improves assessment of risks associated with derivatives and other complex financial transactions.
4. Supports financial stability and depositor confidence.

Potential challenge: Banks may need to modify their reporting systems, risk-management practices and capital planning to comply with the revised requirements.

Important Facts for Prelims

• RBI is India’s central bank.
• Tier-1 Capital primarily consists of high-quality capital.
• The Leverage Ratio aims to restrict excessive leverage.
• The revised directions focus on exposure calculation and disclosure rather than changing the minimum ratios.

Mains Practice Question

“Explain the role of the Leverage Ratio in ensuring financial stability in India’s banking system. Analyse its significance in the context of Basel standards.” (150 words)

3. El Niño and Its Potential Impact on the Indian Monsoon

Why in the News?

In its global seasonal assessment released on 8 October 2026, the World Meteorological Organization (WMO) indicated a possibility of El Niño strengthening during October–December 2026. This could influence global temperatures and rainfall patterns in different regions.

What Is El Niño?

El Niño is a climate phenomenon associated with above-normal sea-surface temperatures in the central and eastern equatorial Pacific Ocean. It represents the warm phase of the El Niño–Southern Oscillation (ENSO) cycle.

The three major phases of ENSO are:

• El Niño: Sea-surface temperatures are warmer than normal.
• La Niña: Sea-surface temperatures are cooler than normal.
• Neutral phase: Conditions do not meet the defined thresholds for either El Niño or La Niña.

Relationship with the Indian Monsoon

El Niño influences atmospheric circulation over the tropical Pacific. This can affect global rainfall systems and the Indian monsoon.

During El Niño years, the probability of below-normal monsoon rainfall in India may increase. However, this is not an absolute rule. Indian Ocean conditions, local sea-surface temperatures, monsoon circulation and other climatic factors also play important roles.

What Are the Signals for 2026?

According to the WMO assessment of October 2026:

• El Niño may strengthen during October–December.
• Sea-surface temperatures in parts of the Pacific Ocean may become exceptionally high.
• Seasonal assessments have indicated the possibility of below-normal rainfall in parts of the Indian subcontinent.

These are seasonal projections. They do not establish that drought will occur throughout India or that rainfall will certainly decline in every region.

Potential Impacts on India

1. Agriculture

Rain-fed farming, sowing patterns, soil moisture and irrigation demand may be affected.

2. Water Resources

Reduced rainfall could put pressure on reservoirs, groundwater levels and drinking-water availability.

3. Inflation and the Economy

If agricultural production declines, food prices, rural incomes and agriculture-related economic activities may be affected.

Important Facts for Prelims

• ENSO stands for El Niño–Southern Oscillation.
• El Niño is associated with the Pacific Ocean.
• El Niño and La Niña originate in the Pacific but have global effects.
• WMO plays an important role in global weather and climate assessments.

Mains Practice Question

“How can El Niño affect the Indian monsoon, agricultural production and food security? Suggest measures to improve India’s preparedness.” (250 words)

4. Reform of the United Nations Security Council and India’s Demand for Permanent Membership

Background

The United Nations Security Council (UNSC) is the principal UN body responsible for maintaining international peace and security. Its present structure reflects the global power balance that emerged after the Second World War. However, several new centres of power have emerged in the global economy and international politics.

Consequently, India and several other countries have consistently demanded greater representation and reforms in the Security Council.

Structure of the Security Council

Total members: 15

Five permanent members (P5):

• China
• France
• Russia
• United Kingdom
• United States

Ten non-permanent members:

These members are elected by the UN General Assembly for two-year terms. They do not possess veto power.

Why Does India Seek Permanent Membership?

1. Population and Global Importance

India has the world’s largest population and plays a significant role in the global economy and international diplomacy.

2. Contribution to the United Nations

India has made longstanding contributions to UN peacekeeping operations.

3. Representation of Developing Countries

India argues that developing countries in Asia, Africa and Latin America should receive adequate representation in global decision-making.

4. Limitations of the Existing System

The veto power of permanent members can make it difficult to reach agreement on important international resolutions.

Major Challenges to Reform

• Differences among permanent members over extending or restricting veto power.
• Disagreement over the number of new permanent members and regional representation.
• The complex procedure for amending the UN Charter.
• Different approaches adopted by groups such as the G4 and the Uniting for Consensus group.

India, Japan, Germany and Brazil are members of the G4, which supports reform of the Security Council.

Way Forward for India

• Strengthen diplomatic cooperation with the G4 and African countries.
• Work towards reform through intergovernmental negotiations in the UN General Assembly.
• Continue contributing to peacekeeping, humanitarian assistance and multilateral diplomacy.
• Place greater representation of developing countries and accountability in decision-making at the centre of reform efforts.

Important Facts for Prelims

• The Security Council has 15 members.
• Five permanent members possess veto power.
• Non-permanent members are elected for two-year terms.
• Reform may require amendments to the UN Charter.

Mains Practice Question

“In the context of the changing global balance of power, examine the need for reforms in the structure of the United Nations Security Council. Present arguments in favour of India’s permanent membership.” (250 words)

5. India–China Border Management and Security Challenges along the LAC

Why in the News?

According to reports dated 23 October 2026, the Ministry of External Affairs (MEA) referred to difficulties that periodically arise due to deviations from established patrolling arrangements along the India–China border. The Ministry indicated that both countries continue to engage through existing diplomatic and military mechanisms to develop a better understanding of the Line of Actual Control (LAC) and reduce the possibility of misunderstandings.

What Is the LAC?

The Line of Actual Control is the line separating the areas under the actual control of India and China. It is not a mutually agreed, fully demarcated international boundary.

Differences in the two countries’ perceptions of the LAC in certain areas can lead to disputes concerning patrolling, military deployment and border management.

Major Challenges

1. Different Perceptions of the LAC

India and China differ in their understanding of the location of the LAC in certain areas. This can lead to face-offs and tensions during patrolling.

2. Border Infrastructure

Roads, bridges, airstrips and communication facilities influence the movement of troops and the delivery of supplies in border areas.

3. Lack of Trust

Doubts concerning military activities and patrolling arrangements can turn local incidents into broader bilateral tensions.

4. Border Management and Diplomacy

Maintaining peace along the border requires more than military deployment. Regular dialogue, compliance with existing agreements and prompt communication are also essential.

Significance for India–China Relations

The MEA has emphasised that peace and stability in border areas are important for the overall development of bilateral relations between the two countries.

This means that border management, trade, diplomatic engagement and regional stability are closely interconnected.

Measures Required for India

• Keep military and diplomatic communication mechanisms active.
• Clarify patrolling procedures and communication arrangements.
• Strengthen surveillance and essential infrastructure in border areas.
• Follow established agreements and protocols to reduce border tensions.
• Maintain a balance between national security and diplomatic engagement.

Important Facts for Prelims

Mains Practice Question

“Analyse the role of military preparedness, confidence-building measures and diplomatic engagement in managing the India–China border dispute.” (250 words)