Finance Minister (FM) to introduce Insolvency and Bankruptcy Code (IBC) Amendment Bill in March 2026
[Insolvency and Bankruptcy Code (IBC)]
Key Updates:
- Finance Minister Nirmala Sitharaman announced the introduction of the Insolvency and Bankruptcy Code (IBC) Amendment Bill during the second half of the Budget session starting 9 March.
- The Bill, which was first introduced in the Lok Sabha on 12 August 2025, incorporates suggestions from a select committee report submitted in December 2025.
- The IBC Amendment Bill 2025 marks the seventh legislative intervention since the Act’s enactment, following the previous amendment in 2021.
- New provisions included in the Bill cover group insolvency processes, cross-border insolvency, and creditor-initiated insolvency processes.
- The government will set up an Integrated Technology Platform to enhance consistency, transparency, and oversight for all stakeholders under the IBC.
- The IBC framework has successfully resolved over 1,000 companies, leading to a direct recovery of more than ₹3.3 lakh crore for creditors.
- Reforms are planned for the National Company Law Tribunal (NCLT) and appellate tribunals to address capacity constraints and speed up resolution timelines.
- The Finance Minister confirmed that the strategic disinvestment of IDBI Bank remains on track.
Similar Coverage
- Finance Minister Nirmala Sitharaman announced the Income Tax Act, 2025 will come into force from 1 April 2026.
- The new Act is revenue-neutral with no changes to existing tax rates or slabs.
- The legislation cuts overall text volume and number of sections by nearly 50% compared with the 1961 Act.
- A single 'tax year' concept replaces the distinction between 'previous year' and 'assessment year'.
- Taxpayers can claim TDS refunds even if returns are filed after the due date without penal charges.
- The deadline for revising returns has been extended from 31 December to 31 March.
- A six-month foreign asset disclosure window is offered to small taxpayers like students, tech professionals and NRIs for income or assets below a specified threshold.
- TCS reduced to 2% on overseas tour packages and on remittances for education and medical purposes under the Liberalised Remittance Scheme.
- For property transactions involving non-residents, TDS can be deducted using the buyer’s PAN-based challan instead of requiring a TAN.
- IBBI introduced revised electronic forms for liquidation to lessen compliance burdens and enhance regulatory filing quality.
- The updated forms follow amendments to the IBBI Liquidation Process Regulations, 2016.
- Insolvency practitioners must file these forms electronically within specified times.
- The forms will be phased in from January 2026 with full implementation by February 2026.
- The Karnataka Land Revenue (Second Amendment) Act 2025 empowers tahsildars in Kodagu district to correct land records to bring them in conformity with the Karnataka Land Revenue Act 1964.
- The amendment targets Jamma Bane holdings where original grantee names persist in records despite generational transfers, blocking sale or bank loans.
- Tahsildars will conduct enquiries and hold adalats before updating the Record of Rights, and any order passed will be appealable under the Act.
- The 23rd Law Commission told the Joint Parliamentary Committee that Parliament can constitutionally amend the five-year term of legislatures to enable simultaneous elections.
- The Commission stated, 'Parliament can certainly do so by way of a constitutional amendment. This is what is proposed by the bill in question.'
- It clarified that the proposed amendment does not require state ratification as it is not covered under the proviso to Article 368(2) of the Constitution.
Central Bank of India (CBI) partners with HSBC Asset Management India (HSBC AMC) to distribute mutual fund products
[Central Bank of India (CBI), HSBC]
Key Updates:
- Central Bank of India (CBI) has entered into a distributorship agreement with HSBC Asset Management India Pvt Ltd (HSBC AMC) to offer mutual fund products to its customers.
- HSBC AMC, which acquired the L&T Investment Management business in November 2022, recorded a daily average Assets Under Management (AUM) of ₹1.39 lakh crore in December 2025.
- CBI reported a 31.6% year-on-year increase in net profit to ₹1,262 crore for the December quarter.
- The net interest income of CBI for the December quarter stood at ₹3,503 crore, reflecting a 1% decline compared to the previous year.
- The asset quality of CBI improved during the quarter, with Gross Non-Performing Assets (GNPA) declining to 2.7% and Net NPAs easing to 0.45%.
Similar Coverage
- CHLIC will distribute life protection, savings, annuity, child plans, and investment-linked solutions through ESFB’s network of 994 banking outlets and 365 ATMs across 18 states and Union Territories.
- The partnership targets deeper penetration in Tamil Nadu, Karnataka, Kerala, and Maharashtra.
- The alliance supports IRDAI’s ‘Insurance for All by 2047’ vision.
- HDFC Bank has integrated the Reserve Bank of India (RBI) Central Bank Digital Currency (CBDC) into its online merchant payment platform, SmartGateway.
- The integration enables merchants to accept payments via the Digital Rupee at zero transaction cost.
- The Digital Rupee is offered as a secure and sovereign-backed digital payment option alongside existing modes such as Unified Payments Interface (UPI), cards, and net banking.
- The enhancement allows customers to access an instant and secure digital payment experience within the HDFC Bank checkout ecosystem.
- IDFC FIRST Bank signed an MoU with FPSB India under the Approved Corporate Partner initiative.
- FPSB India will upskill IDFC FIRST Bank's Wealth Management Regional Managers through specialised training and certification programs.
- The collaboration supports hiring initiatives and creates enhanced career pathways for CERTIFIED FINANCIAL PLANNER® professionals.
- FPSB India is the Indian subsidiary of Financial Planning Standards Board Ltd. and offers the globally recognised CFP® certification.
- FPSB India is home to over 3,215 CFP® professionals in India and part of a global network representing more than 230,648 CFP® professionals worldwide.
- Bank of India and State Bank of India (SBI) collaborate on co-financing, capacity building, and co-branded initiatives.
- The MoU provides a framework for the two banks to collaborate on multiple fronts.
- The partnership addresses structured project financing in infrastructure, energy, and industrial development sectors.
- State Bank of India (SBI) offers retail banking, corporate banking, treasury operations, and international banking.
- Bank of India focuses on corporate banking, project financing, and trade services.
National Statistics Office (NSO) proposes Survey on Migration for July 2026-June 2027
[National Statistics Office (NSO)]
Key Updates:
- National Statistics Office (NSO) will conduct a Survey on Migration during July 2026-June 2027 to update migration data.
- Periodic Labour Force Survey (PLFS) 2020-21 recorded an all-India migration rate of 28.9 percent.
- PLFS 2020-21 showed male migration rate at 10.7 percent and female migration rate at 47.9 percent.
- Marriage accounted for 86.8 percent of female migration while 22.8 percent of male migration was for employment or better employment.
- Ministry of Statistics & Programme Implementation (MoSPI) organises migration surveys to inform policy on urban planning, housing, transportation, employment, social security and skill development.
Similar Coverage
- The Ministry of Statistics and Programme Implementation (MoSPI) will launch the National Household Income Survey (NHIS) and the Annual Survey of Incorporated Service Sector Enterprises (ASISSE) in April 2026.
- The National Statistics Office (NSO) will conduct the fieldwork for both surveys digitally across India for a duration of one full year.
- MoSPI is convening an All-India Workshop of Trainers (AIWOT) in Chennai on 28–29 January 2026 to prepare senior officials and field functionaries for the rollout.
- The NHIS will provide data on household income distribution, living conditions, and sources of income from labour, capital, and land.
- The ASISSE will build a national database of the corporate services sector, capturing indicators such as Gross Value Added (GVA), fixed capital formation, employment, and emoluments.
- The ASISSE will use an enterprise-based approach aligned with the Goods and Services Tax Network (GSTN) framework to generate estimates at state and industry levels.
- The surveys will cover the entire Indian Union, with the exception of villages in the Andaman and Nicobar Islands that remain inaccessible year-round due to geographical constraints.
- The International Labour Organization (ILO) estimates global unemployment at 186 million people in 2026.
- The ILO warns that 465 million jobs depend on foreign demand through exports of goods and services and related supply chains.
- Nearly 300 million workers live in extreme poverty on less than $3 a day.
- About 2.1 billion workers are expected to hold informal jobs in 2026 with limited social protection and job security.
- Youth unemployment among 15 to 24-year-olds is projected at 12.4% for 2025, with 260 million young people not in education, employment or training.
- Women account for only two-fifths of global employment, highlighting entrenched gender inequalities.
- United Nations Population Fund India (UNFPA India) honored International Union for the Scientific Study of Population (IUSSP) for receipt of the 2025 United Nations Population Award during the 46th Annual Conference of the Indian Association for the Study of Population.
- Shireen Jejeebhoy is President of IUSSP.
- Andrea M Wojnar is Representative of UNFPA India.
- The conference theme is 'People, Planet, Prosperity.'
- International Migrants Day is observed each year on December 18 to acknowledge the millions of people who leave their homes in search of safety, opportunity and dignity across borders.
- The theme for International Migrants Day 2025 is 'My Great Story: Cultures and Development.'
- On December 4, 2000, the United Nations General Assembly officially designated December 18 as International Migrants Day.
Supreme Court orders Centre to constitute Water Disputes Tribunal for Pennaiyar river sharing between Karnataka and Tamil Nadu.
[Supreme Court of India, Karnataka, Tamil Nadu]
Key Updates:
- The Supreme Court directed the Central government to constitute a Water Disputes Tribunal within a month under the Inter-State River Water Disputes Act, 1956.
- The dispute was brought by Tamil Nadu under Article 131 of the Constitution against Karnataka and the Union of India.
- Pennaiyar is an inter-State river flowing from Karnataka through Andhra Pradesh into Tamil Nadu and Puducherry.
- Tamil Nadu alleged that Karnataka’s infrastructure projects on the Pennaiyar reduced downstream flow and harmed irrigation.
- Karnataka argued that the new state government formed after May 2023 Assembly elections had not been allowed fresh negotiations.
- The Centre informed the court that ministerial talks were proposed but Tamil Nadu refused to participate in certain meetings.
- In January 2024 the Supreme Court constituted a new negotiation committee with a one-year statutory negotiation limit.
- By November 2024 the court was informed that mediation between the two states had failed.
Similar Coverage
- Puri is the only Indian city where residents can drink tap water straight without side effects.
- Water meets every Bureau of Indian Standards limit, certified by BIS.
- Multi-stage treatment train: sedimentation, filtration, ozonation, chlorination plus real-time sensor monitoring.
- Mission name: Drink from Tap (DFT).
- State plans to extend DFT to Bhubaneswar and Cuttack.
- The Supreme Court (SC) declined to entertain an appeal challenging the Madhya Pradesh High Court’s dismissal of a petition against VIP entry into the garbhagriha of Shri Mahakaleshwar Temple in Ujjain, Madhya Pradesh.
- The three-judge bench headed by Chief Justice of India (CJI) Surya Kant and comprising Justices R Mahadevan and Joymalya Bagchi stated that in the presence of Mahakal, nobody is VIP.
- The SC advised the petitioner to approach the relevant authority instead of the courts for decisions on temple entry rules.
- The National Green Tribunal (NGT) Southern Zone directed Udupi DC and Karnataka Urban Water Supply and Drainage Board (KUWSDB) Chairman to file a detailed report on stopping wastewater flow into the Sauparnika River in Kollur.
- Commercial establishments—lodges and hotels around Sri Mookambika Temple—are allegedly discharging sewage and sullage water into the river, causing long-term contamination.
- Although the Underground Sewerage Scheme (UGSS) was completed in 2020 at a cost of Rs 19.97 crore, river contamination persists.
- NGT observed that the Udupi DC’s report filed on November 25, 2025, lacked specifics on waste volume, UGSS carrying capacity, required enhancements, estimated costs, and implementation timelines.
- Karnataka State Pollution Control Board has been instructed to identify violators and report enforcement actions taken.
- Supreme Court stays its November 20 order accepting the Centre’s 100-metre height definition for Aravalli Hills.
- A new High-Powered Expert Committee will be constituted to resolve critical ambiguities.
- The stay will remain in effect till the new committee is constituted.
- The Court issued notice on the suo motu case returnable on January 21.
Centre for Nano and Soft Matter Sciences (CeNS) develops sunlight-powered photo-supercapacitor integrating energy capture and storage.
[Centre for Nano and Soft Matter Sciences (CeNS)]
Key Updates:
- Scientists at the Centre for Nano and Soft Matter Sciences (CeNS), Bengaluru, created a photo-rechargeable supercapacitor using binder-free nickel–cobalt oxide (NiCo₂O₄) nanowires on nickel foam.
- Under illumination the electrode capacitance rose by 54% from 570 to 880 millifarads per square centimetre at 15 milliamperes per square centimetre current density.
- The electrode retained 85% of its original capacity after 10,000 charge–discharge cycles.
- An asymmetric device with activated carbon negative and NiCo₂O₄ nanowire positive electrodes delivered a stable 1.2 volt output and 88% capacitance retention after 1,000 photo-charging cycles.
- Nickel substitution narrows the band gap to about 1.67 eV and induces half-metallic behaviour, enabling faster charge transport for photo-assisted storage.
- The integrated system can function without an electrical grid, supporting India’s clean-energy goals.
Similar Coverage
- India’s largest and first MWh-scale Vanadium Redox Flow Battery (VRFB) system was inaugurated.
- The VRFB system has a capacity of 3 MWh.
- The system was inaugurated at NETRA, the R&D Centre of NTPC at Greater Noida.
- This project aims to provide long-duration energy storage (LDES) solutions, enhancing renewable energy integration and grid resilience.
- The Vanadium Redox Flow Battery is described as a contemporary technology with the potential to emerge as an alternative for more traditional lithium ion-based batteries.
- The inauguration was performed by Shri Manohar Lal, Minister of Power and Housing & Urban Affairs.
- NTPC NETRA is also engaged in pioneering R&D work in Carbon Capture, Green Hydrogen, Energy Storage and Waste-to-Energy Technologies.
- Union Minister Dr Jitendra Singh inaugurated the world’s second National Environmental Standard Laboratory and the world’s fifth National Primary Standard Facility for Solar Cell Calibration at CSIR-NPL.
- The National Environmental Standard Laboratory will provide India-specific calibration and certification of air pollution monitoring systems under Indian climatic conditions.
- The National Primary Standard Facility for Solar Cell Calibration, developed with PTB Germany, achieves the lowest global uncertainty of 0.35% (k=2) for reference solar cell calibration.
- CSIR-NPL houses atomic clocks that established Indian Standard Time (IST), with the Minister noting “half the nation synchronised its watches with the atomic clock housed at NPL.”
- NPL’s new solar facility reduces India’s dependence on foreign certification, saves foreign exchange, and boosts investor confidence in the domestic solar sector.
- The Indian Army has signed a Rs 168 crore deal with a Bengaluru-based startup for solar-powered spy drones.
- The system, called the Medium Altitude Persistent Surveillance System (MAPSS), has been developed by Bengaluru-based NewSpace Research & Technologies under the Defence Ministry’s iDEX innovation programme.
- MAPSS changes that by using solar energy to keep flying for extended periods, making it useful for watching long stretches of the border without interruption.
- Because it runs on electric power, it is quieter and produces less heat, making it harder to detect.
- The company has already tested similar platforms that stayed in the air for more than 24 hours at heights above 26,000 feet.
- Those trials were carried out at the Aeronautical Test Range in Chitradurga.
- Since Operation Sindoor, the force has added a range of unmanned systems, including loitering munitions and surveillance drones, in deals worth over Rs 5,000 crore.
- India’s largest Vanadium Redox Flow Battery system was inaugurated at NTPC NETRA, Greater Noida.
- The 3 MWh system represents India’s largest vanadium flow battery installation and was developed in-house by NTPC NETRA.
- Unlike conventional lithium-ion batteries, vanadium flow batteries use liquid electrolytes, allowing them to store energy for extended durations with enhanced safety, longer life cycles, and scalability.
- The project marks a major step forward in the nation’s journey towards long-duration energy storage solutions, enhancing renewable energy integration and grid resilience.
- The adoption of vanadium flow battery technology aims to diversify India’s energy storage materials beyond lithium and strengthen supply chain resilience by reducing dependence on imported components.
- NTPC NETRA has positioned itself at the forefront of India’s long-duration energy storage innovation.
- NTPC Ltd.’s clean energy research portfolio now spans green hydrogen, carbon capture, waste-to-energy, and energy storage technologies, in alignment with India’s target of achieving 500 GW of non-fossil capacity by 2030.