7th OCTOBER 2026 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS

7th OCTOBER 2026 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS

Repo Rate Raised to 5.5%

• In a meeting of the Monetary Policy Committee led by Reserve Bank of India Governor Sanjay Malhotra, a unanimous decision was reached to raise the repo rate by 25 basis points, setting it at 5.50 percent.
• This marks the first hike in the repo rate since February 2023—a gap of approximately three years and eight months.
• In February 2023, the repo rate had been raised by 25 basis points to 6.50 percent. Subsequently, as the Reserve Bank reduced rates in phases, the repo rate stood at 5.25 percent last August.
• The repo rate is the interest charged by the Reserve Bank on loans provided to banks for short-term requirements. An increase in this rate raises the cost for banks to borrow funds from the Reserve Bank. 
• This impacts bank lending rates, potentially leading to higher interest rates and EMIs for home loans, vehicle loans, and personal loans. Conversely, deposit interest rates offered by banks may also rise, which could benefit savers.
• Last August, consumer price inflation rose to 4.82 percent, exceeding the Reserve Bank's 4 percent target for the third consecutive month.
• The Reserve Bank projects average inflation to be around 5.8 percent over the next three quarters and 4.4 percent for the current fiscal year. Essentially, the Reserve Bank has raised the interest rate to curb price rises by partially restricting liquidity and the demand for credit. 

Ashutosh Dixit Appointed as New Chief of the Indian Air Force

• Air Marshal Ashutosh Dixit has been appointed as the new Chief of the Indian Air Force. Currently serving as the Deputy Chief of the Air Staff, he is set to assume the office of Chief of the Air Staff on the afternoon of October 31.
• According to the appointment notification issued by the Government of India, Ashutosh Dixit will take over as the 29th Chief of the Indian Air Force. The incumbent Chief of the Air Staff, Air Chief Marshal Amar Preet Singh, is due to retire on October 31.
• Born on December 9, 1966, Ashutosh Dixit joined the fighter stream of the Indian Air Force on December 6, 1986.