GOVERNMENT / POLITY
Union Cabinet Decisions
Union Cabinet Approves ₹10,000 Crore Corpus for SME Growth Fund
Union Cabinet committed ₹10,000 crore to establish SME Growth Fund.
Union Budget 2026-27 initially proposed this dedicated growth financing vehicle.
Target enterprises include manufacturing units in Tier-II and Tier-III clusters.
🎯 Key Point: Cabinet approved ₹10,000 crore equity corpus for SME Growth Fund.
Union Budget 2026-27 initially proposed this dedicated growth financing vehicle.
Target enterprises include manufacturing units in Tier-II and Tier-III clusters.
🎯 Key Point: Cabinet approved ₹10,000 crore equity corpus for SME Growth Fund.
Key Facts / Static GK
Fund Focus: Equity and growth capital for SMEs
Announced in: Union Budget 2026-27
Announced in: Union Budget 2026-27
Practice Quiz — 7 October 2026
Q1. Who has been named to succeed Air Chief Marshal A.P. Singh as the Chief of the Air Staff on 31 October?
Answer: (A) Air Marshal Ashutosh Dixit — Air Marshal Ashutosh Dixit, currently serving as the Vice-Chief of the Air Staff, will take over as the next Chief of the Air Staff following the superannuation of Air Chief Marshal A.P. Singh.
Q2. Which Indian shooter was unanimously elected to represent South Asian athletes on the Olympic Council of Asia (OCA) Athletes Commission for the 2026–2030 term?
Answer: (B) Rajeshwari Kumari — Former Indian trap shooter and 2023 Asian Games silver medallist Rajeshwari Kumari was elected to the OCA Athletes Commission for the 2026–2030 tenure.
Q3. What is the total financial commitment approved by the Union Cabinet for setting up the SME Growth Fund (SGF)?
Answer: (B) ₹10,000 crore — The Union Cabinet approved a ₹10,000 crore commitment to set up the SME Growth Fund to provide direct equity and growth capital to high-potential manufacturing SMEs.
Q4. What is the name of the Indian Navy's first indigenous Fleet Support Ship (FSS-1) launched at Hindustan Shipyard Limited?
Answer: (B) Surya — Defence Minister Rajnath Singh launched the Indian Navy's first indigenous Fleet Support Ship (FSS-1), named 'Surya', at Hindustan Shipyard Limited (HSL), Visakhapatnam.
Q5. Which of the following statements regarding a Core Investment Company (CIC) under RBI guidelines is correct?
Answer: (B) At least 90% of net assets must be in group investments or loans — Under RBI regulations, a CIC must hold at least 90% of its net assets in investments or loans to group companies, with at least 60% specifically in equity shares of group firms.
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