📰 Daily Briefing Sunday, Jan 04

Daily Current Affairs: 4 January 2026

Analysis for 04 January 2026

Hardeep Singh Ahluwalia assigned additional charge as MD & CEO of Canara Bank

Key Updates:

  • Hardeep Singh Ahluluwalia, executive director of Canara Bank, has been assigned additional charge as managing director and chief executive officer (MD & CEO) of the bank.
  • The appointment is effective from January 1, 2026, for a period of three months, until March 31, 2026, or until a regular MD & CEO is appointed, whichever is earlier.
  • He succeeds Shri K. Satyanarayana Raju, who superannuated on December 31, 2025.

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Reserve Bank of India (RBI) approves re-appointment of Ratan Kumar Kesh as Bandhan Bank executive director. (End of December) ▼
  • The Reserve Bank of India (RBI) approved the re-appointment of Ratan Kumar Kesh as executive director of Bandhan Bank Limited.
  • The re-appointment is effective from March 31, 2026, for an additional three-year term.
  • Kesh also serves as the chief operating officer and a key managerial personnel of the bank.
  • The approval was communicated via an RBI letter dated December 26, 2025.
  • The re-appointment is contingent upon the approval of the bank's shareholders and Kesh will remain subject to retirement by rotation.
  • Bandhan Bank confirmed that Kesh has no relations with other directors of the bank and is not debarred or disqualified from holding a directorship by any order from the Securities and Exchange Board of India or any other relevant authority.
Abdolnasser Hemmati appointed Governor of Central Bank of Iran (Start of January) ▼
  • Abdolnasser Hemmati has been appointed as the new governor of the Central Bank of Iran (CBI).
  • He succeeds Mohammad Reza Farzin, who resigned as the rial plunged to a record low against the US dollar.
  • His appointment follows nationwide protests driven by steep currency devaluation and soaring inflation.
Canara Bank (CB) launches Canara ai1Pe unified UPI app for secure digital payments. (End of December) ▼
  • Canara Bank (CB) launches Canara ai1Pe, a unified UPI app enabling instant payments, shared expenses via UPI Delegate, spend analytics, UPI Lite, and rewards.
  • The app allows users to link bank accounts from any bank for instant money transfers, merchant payments, and bill settlements.
  • Payments are secured through UPI PIN authentication and device-binding that restricts transactions to the registered mobile handset.
  • UPI Delegate (UPI Circle) lets a primary account holder add trusted family members as delegates who can spend up to ₹15,000 per month.
  • Spend analytics provide month-on-month spending insights, expenditure categorisation and financial trends.
  • UPI Autopay automates recurring payments for subscriptions, EMIs, SIPs and utility bills.
  • UPI Lite permits small-value payments without entering UPI PIN for every transaction.
  • The app features a widget-based QR scan for quick scan-and-pay from the home screen and offers real-time transaction updates, payment reminders, transaction history access, plus rewards and cashback eligibility.
Ajai Kumar Shukla appointed as Managing Director and Chief Executive Officer of PNB Housing Finance (Mid of December) ▼
  • Ajai Kumar Shukla has been appointed as Managing Director and Chief Executive Officer of PNB Housing Finance for five years starting December 18.
  • He succeeds Girish Kousgi, who was seen as a key driver of the company’s push into the affordable housing segment.
  • Shukla is currently the chief business officer at Tata Capital Housing Finance and has previously worked with ICICI Bank and LIC Housing Finance.

Government of India keeps small savings scheme interest rates unchanged for January–March 2026 quarter.

Key Updates:

  • Interest rates on all major small savings instruments remain unchanged for the January–March 2026 quarter.
  • Senior Citizen Savings Scheme (SCSS) and Sukanya Samriddhi Account (SSA) offer the highest rate at 8.2 per cent.
  • Public Provident Fund (PPF) continues at 7.1 per cent with exempt–exempt–exempt tax status.
  • National Savings Certificate (NSC) offers 7.7 per cent annual compounding and qualifies for Section 80C deduction.
  • Five-year Post Office Time Deposit provides 7.5 per cent and is eligible for Section 80C benefits.
  • Monthly Income Scheme pays 7.4 per cent with monthly interest payouts.
  • Kisan Vikas Patra carries 7.5 per cent interest and matures in 115 months.
  • Post Office Savings Account retains 4 per cent interest rate.

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Reserve Bank of India (RBI) Approves Risk-Based Pricing for Deposit Insurance (End of December) ▼
  • The central board of the Reserve Bank of India (RBI) has approved a proposal to transition to a risk-based pricing system for deposit insurance.
  • The new model replaces the uniform premium currently charged to banks under the Deposit Insurance and Credit Guarantee Corporation (DICGC) scheme.
  • Under the existing flat-rate system, banks pay a premium of 12 paise for every Rs 100 of assessable deposits.
  • The proposed framework will charge lower premia to banks with stronger capital adequacy, better asset quality, and sound governance, while weaker banks will pay higher rates.
  • The DICGC, established under the DICGC Act, 1961, has operated the deposit insurance framework on a flat-rate basis since 1962.
  • RBI Governor Sanjay Malhotra introduced the reform measures alongside the October monetary policy decision to help better-rated banks save significantly on premium costs.
World Savings Day observed on October 31: Theme 'This is not a savings account' (End of October) ▼
  • World Savings Day is marked every year on October 31.
  • The theme for this year is 'This is not a savings account'.
  • The day is dedicated to the power of saving money for a better future.
Reserve Bank of India (RBI) cuts repo rate by 25 bps to 5.25% and projects FY26 inflation at 2%. (Start of December) ▼
  • Reserve Bank of India (RBI) Governor Sanjay Malhotra announces a 25 basis points reduction in the repo rate to 5.25%.
  • The standing deposit facility rate now stands at 5.0%, and the marginal standing facility and bank rate at 5.5%.
  • RBI retains the neutral policy stance with future moves dependent on inflation trajectory, growth, and global risks.
  • RBI projects CPI inflation for FY26 at 2%, with Q3 at 0.6% and Q4 at 2.9%.
  • RBI revises FY26 real GDP growth forecast upward to 7.3%, with Q3 at 7% and Q4 at 6.5%.
  • RBI announces ₹1 lakh crore in OMO purchases and a $5 billion dollar-rupee swap in December to augment liquidity.
  • India’s forex reserves stand at USD 686 billion, providing more than 11 months of import cover.
  • The 10-year bond yield drops nearly 5 basis points to 6.4581% post-policy announcement.
  • RBI launches a two-month nationwide customer grievance redressal campaign starting January 1, 2026, to clear pending Ombudsman grievances.
Reserve Bank of India (RBI) cuts repo rate by 25 basis points (Start of December) ▼
  • The Reserve Bank of India (RBI) sliced the repo rate by 25 basis points to 5.25 per cent on December 5.
  • The cumulative reduction in the repo rate this calendar year is 125-basis-point.
  • The rupee breached the 90-mark against the US dollar, hitting a record low.
  • Domestic inflation remains historically benign, with CPI inflation at 0.25 per cent in October 2025.
  • The policy announced Rs 1 trillion in Open Market Operations (OMO) and a $5 billion FX swap.
  • The 10-year bond yields are expected to move toward the 6.8 to 7 per cent range.
  • Experts believe there is scope for another 25 bps cut in this cycle.

Finance Ministry notifies 40% GST rate on tobacco & pan masala from Feb 1

Key Updates:

  • Tobacco products and pan masala will attract a 40% GST rate under the Goods and Services Tax regime.
  • Biris will attract an 18% GST rate.
  • The current GST compensation cess on sin goods will be discontinued from February 1.
  • Additional excise duty will be levied on tobacco products and a Health and National Security Cess on pan masala.
  • The Chewing Tobacco, Jarda Scented Tobacco and Gutkha Packing Machines (Capacity Determination and Collection of Duty) Rules, 2026 have been notified to determine production capacity and collect duty.

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Income Tax Act 2025: New simplified Act to take effect from April 1 (End of December) ▼
  • The new simplified Income Tax Act, 2025 will come into effect from April 1, replacing the over six-decade-old Income Tax Act, 1961.
  • No income tax will be payable on income of Rs 12 lakh a year under the new income tax regime.
  • GST rates were reduced on about 375 goods and services effective September 22, compressing the four-tier GST slab structure into two principal rates of 5 and 18 per cent, with a 40 per cent levy retained only for sin goods.
CBDT NUDGE Campaign: 15 Lakh Revised ITRs Filed for AY 2025-26 (End of December) ▼
  • Central Board of Direct Taxes (CBDT) launched a NUDGE campaign to alert taxpayers who claimed wrongful deductions related to unrecognised political parties or charitable institutions.
  • Over 15 lakh revised Income Tax Returns (ITRs) have been filed for Assessment Year 2025-26.
  • More than 21 lakh taxpayers have updated their returns and paid Rs 2,500 crore in taxes during the current fiscal.
  • Taxpayers are advised to review and revise their ITRs by December 31, 2025, to avoid further enquiries.
CBDT launches 2nd NUDGE initiative on foreign assets (End of November) ▼
  • The Central Board of Direct Taxes (CBDT) formally launched the second NUDGE initiative, expanding its data-driven and non-intrusive reporting campaign focused on offshore asset disclosures.
  • The Income Tax Department will target around 25,000 high-risk cases in the first phase of the new drive.
  • Taxpayers will receive SMS and email nudges advising them to revisit and revise returns by December 31, 2025 to avoid penal consequences.
Committee Formed to Review RoDTEP and RoSCTL Export Tax Refund Schemes (End of October) ▼
  • The government has constituted a committee to review the rates of tax refund under the export schemes – Remission of Duties and Taxes on Exported Products (RoDTEP) and Rebate of State and Central Taxes and Levies (RoSCTL).
  • Both these schemes are set to expire by the end of this financial year, and the committee has been given time till March 31, 2026 to submit its main report.
  • The panel is headed by former secretary Neeraj Kumar Gupta, with SR Baruah and Vivek Ranjan as the other two members.
  • RoDTEP scheme was introduced in January 2021 as a replacement of Merchandise Exports from India Scheme (MEIS), covering exports of 10,642 products and providing refunds of taxes ranging from 0.3% to 4.3%.
  • RoSCTL was also introduced in 2021 for textiles and garment exporters, with a maximum rate of refund for apparel at 6.05% and for made-ups up to 8.2%.
  • The committee will work out the modalities for calculation of duties, taxes, levies and recommend the ceiling rates under RoSCTL and RoDTEP schemes for exports from domestic tariff areas, special economic zones, and advance authorisation holders.

Reserve Bank of India (RBI) revises risk-weighting framework for NBFC exposure to high-quality infrastructure projects.

[Reserve Bank of India (RBI)]

Key Updates:

  • Loans to high-quality infrastructure projects where at least 2% of sanctioned project debt has been repaid will carry a 75% risk weight.
  • Loans where at least 5% of sanctioned project debt has been repaid will attract a lower 50% risk weight.
  • Exposures initially classified as high-quality that later fail to meet prescribed conditions will revert to higher risk weights under the existing infrastructure lending framework.
  • Projects must have completed at least one year of operations after achieving commercial operations without breaching material lender covenants, and the exposure must be classified as 'standard' in the lender's books.
  • Project revenues must depend on concession or contractual rights granted by the Centre, state governments, public sector entities, or statutory bodies, with protections throughout the concession period.
  • Lenders must have strong contractual safeguards including escrow or trust and retention account mechanisms, pari-passu charge over project assets, and risk-mitigation features such as step-in rights or minimum termination payments.

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Reserve Bank of India (RBI) Projects 1.9% GNPA Ratio by March 2027 (Start of January) ▼
  • The Reserve Bank of India (RBI) recorded the gross non-performing asset (GNPA) ratio of scheduled commercial banks at multi-year lows of 2.3% in March 2025 and 2.2% in September 2025.
  • The net non-performing asset (NNPA) ratio for scheduled commercial banks remained at approximately 0.5% since the March 2025 quarter.
  • The RBI projects the bad loans ratio for Indian banks to fall to 1.9% by March 2027 under the baseline scenario.
  • System-wide capital-to-risk weighted assets ratios and Common equity Tier-1 ratios remained comfortably above Basel III norms and regulatory thresholds.
  • Macro stress tests indicate that banks would maintain capital levels above regulatory minimums even under severe macroeconomic scenarios.
  • The RBI released its Financial Stability report in December, noting that the banking sector closed 2025 with its cleanest balance sheets in over a decade.
  • The RBI attributed the improvement in asset quality to legacy bad-loan resolution, tighter underwriting standards, and steady economic growth.
Reserve Bank of India (RBI) records gross NPAs at 10-year low of 2.1% (Start of January) ▼
  • Gross non-performing assets (GNPAs) have fallen to a decadal low of 2.1%.
  • The ratio of special mention accounts overdue by 61-90 days (SMA-2) declined to 0.8% as of end-September 2025.
  • In the MSME sector, the SMA ratio eased to 5.1%.
  • Stress in unsecured loans moderated sharply, with the SMA-2 ratio falling to 13% from more than 20% a year earlier.
  • Credit costs for the system are expected to be around 0.6% in the December quarter.
  • Fresh stress formation among large borrowers improved, with the SMA-2 ratio declining nearly 36% in September 2025.
  • 69% of gold loan disbursements were to prime-and-above borrowers.
  • Private sector banks disbursed over 70% of consumer loans to prime-and-above borrowers.
Credit Assessment Model (CAM) Launched to Simplify MSME Loan Approvals (Start of December) ▼
  • The Government of India has rolled out a Credit Assessment Model (CAM) aimed at transforming loan appraisal for Micro, Small, and Medium Enterprises (MSMEs).
  • CAM leverages digitally sourced, verifiable data from across the financial ecosystem to enable automated, objective, and transparent loan evaluation.
  • The model caters to both Existing-to-Bank (ETB) and New-to-Bank (NTB) MSME borrowers, offering model-based credit limit assessments to accelerate decision-making and enhance the efficiency of lending processes.
Reserve Bank of India (RBI) records double-digit deposit and credit growth alongside lowest gross NPAs in decades. (End of December) ▼
  • Commercial, co-operative and other financial institutions expanded balance sheets, though at a marginally slower pace than the previous year.
  • Aggregate deposits and bank credit grew at a double-digit rate during 2024-25.
  • Gross non-performing assets fell to 2.2% by March 2025 and further to 2.1% by September 2025, marking the lowest level in many decades.
  • Capital to risk-weighted assets ratio for major commercial banks stood at 17.4% in March 2025 and 17.2% in September 2025.
  • Return on assets was 1.4% in 2024-25 and moderated to 1.3% in the first half of 2025-26.
  • Urban co-operative banks posted faster balance sheet growth, improved asset quality for the fourth straight year, and raised savings and profits.
  • Non-banking financial companies reported double-digit credit growth, better loan quality and maintained strong financial buffers.

Sagarmala Finance Corporation Ltd (SMFCL) sanctions Rs 4,300 cr loans to enter maritime financing.

Key Updates:

  • SMFCL board approves loans of Rs 4,300 crore for disbursement in the current fiscal.
  • SMFCL targets a loan book size of Rs 8,000 crore by FY 2025-26.
  • SMFCL is India’s first maritime sector-specific NBFC registered with RBI.
  • Ministry of Ports, Shipping and Waterways designates SMFCL as nodal agency for Rs 25,000 crore Maritime Development Fund.
  • Maritime Development Fund comprises Rs 20,000 crore Maritime Investment Fund and Rs 5,000 crore Interest Incentivization Fund.
  • SMFCL will channelise the Rs 5,000 crore Interest Incentivization Fund.
  • Notification of Rs 44,700 crore Shipbuilding Financing Assistance Scheme guidelines to open new investment avenues for SMFCL.
  • SMFCL will offer tailored short-term, medium-term, long-term loans and non-fund-based products to government and private maritime entities.

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Shipbuilding Financial Assistance Scheme (SBFAS) and Shipbuilding Development Scheme (SbDS) notified with ₹44,700 Crore Outlay (End of December) ▼
  • The Ministry of Ports, Shipping & Waterways (MoPSW) notified the operational guidelines for the Shipbuilding Financial Assistance Scheme (SBFAS) and the Shipbuilding Development Scheme (SbDS) to strengthen domestic shipbuilding capacity.
  • The total approved outlay for the initiatives is ₹44,700 crore, comprising ₹24,736 crore for SBFAS and ₹19,989 crore for SbDS.
  • Under SBFAS, the government will provide financial assistance ranging from 15% to 25% per vessel, depending on the vessel category, with stage-wise disbursement linked to defined milestones.
  • The SBFAS introduces a Shipbreaking Credit Note, providing ship owners scrapping vessels at Indian yards a credit equivalent to 40% of the scrap value to support a circular economy.
  • The SbDS provides 100% capital support for common maritime and internal infrastructure in greenfield shipbuilding clusters through a 50:50 Centre–State special purpose vehicle.
  • Existing shipyards are eligible for 25% capital assistance under SbDS for brownfield expansion of critical infrastructure such as dry docks, shiplifts, and automation systems.
  • The schemes include the establishment of a National Shipbuilding Mission and an India Ship Technology Centre under the Indian Maritime University to support research, design, and innovation.
  • Both schemes will remain valid until March 31, 2036, with an in-principle extension envisaged up to 2047 to help India's commercial shipbuilding capacity rise to 4.5 million gross tonnage per annum.
Indian Railway Finance Corporation (IRFC) extends Rs 9,821 crore loan to Dedicated Freight Corridor Corporation of India Ltd (DFCCIL) (End of December) ▼
  • Indian Railway Finance Corporation (IRFC) provided a Rs 9,821 crore loan to the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).
  • The rupee-denominated term loan is intended to refinance foreign currency debt taken from the World Bank for the Eastern Dedicated Freight Corridor project.
  • The refinancing fully covers the existing World Bank loans, shifting the debt to local funding solutions to reduce exchange rate volatility.
  • The agreement was signed by Rahul Kapoor, Director (Finance) of DFCCIL, and Deepa Kotnis, Executive Director (Finance) of IRFC.
  • The loan execution took place at the Railway Board in the presence of Satish Kumar, Chairman & CEO of the Railway Board.
Bank of Baroda and SIDBI Sign MoU to Boost Credit Access for MSMEs and Startups (Mid of November) ▼
  • Bank of Baroda and SIDBI Sign MoU to Boost Credit Access for MSMEs and Startups Across India.
  • Partnership aims to enhance joint financing, streamline digital working capital, and expand global opportunities for small businesses and startups under the vision of Viksit Bharat 2047.
  • The MoU was formalised in the presence of Mr. M. Nagaraju, IAS, Secretary, Department of Financial Services DFS, who attended as the Chief Guest.
  • Both institutions will combine SIDBI’s deep expertise in MSME development with Bank of Baroda’s strong national footprint to enhance credit delivery and expand financial inclusion among small businesses.
  • Bank of Baroda’s digital Working Capital Platform will be operationalised for SIDBI-approved borrowers, ensuring seamless, technology-driven working capital access.
  • The partnership will reinforce startup support through SIDBI’s Venture Debt Programme and BOB’s specialised Startup Banking solutions, including advisory services and customised financial products.
  • Bank of Baroda’s extensive international network will be leveraged to assist MSMEs and startups in exploring export opportunities, gaining market insights, and availing global banking solutions.
  • The Small Industries Development Bank of India SIDBI is the principal financial institution for the promotion, financing, and development of MSMEs and startups in India.

Securities and Exchange Board of India (SEBI) grants in-principle approval to Ashika Group to sponsor Ashika Mutual Fund.

[Securities and Exchange Board of India (SEBI)]

Key Updates:

  • Ashika Group has received in-principle approval from the Securities and Exchange Board of India (SEBI) to act as sponsor and set up Ashika Mutual Fund.
  • The approval allows the company to proceed with establishing an Asset Management Company (AMC) and preparing for the launch of mutual fund schemes, subject to fulfilling SEBI’s final registration requirements and conditions.
  • Ashika Group’s financial services portfolio includes retail and institutional broking, investment banking, research advisory, global family office services, alternative asset management and private equity.
  • The Group has a retail broking client base exceeding 125,000 and a presence across more than 20 states.

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Securities and Exchange Board of India (SEBI) overhauls mutual fund regulations and cuts expense ratio limits (Mid of December) ▼
  • Total Expense Ratio shall now be the sum of BER, brokerage, regulatory levies and statutory levies.
  • Base expense ratio limits for equity-oriented schemes and other than equity oriented schemes under various AUM slabs have been cut by up to 15 basis points.
  • Base expense ratio limit for index funds or ETF revised to 0.9 per cent from 1 per cent.
  • Close-ended equity-oriented schemes BER limit now stands at 1 per cent as against 1.25 per cent.
  • Maximum brokerage fee that mutual funds pay on cash market transactions halved to 6 bps from 12 bps.
  • Brokerage cap for derivative transactions revised downwards to 2 bps from 5 bps, excluding applicable levies.
  • SEBI removed the additional 5 bps expense allowance currently permitted to be charged to schemes with exit loads as a transitory measure.
Securities and Exchange Board of India (Sebi) approves IPOs for Yashoda Healthcare and six other companies. (Mid of December) ▼
  • Securities and Exchange Board of India (Sebi) granted IPO approval to seven companies: Yashoda Healthcare Services, Fusion CX, Orient Cables, Turtlemint Fintech Solutions, RSB Retail India, SFC Environmental Technologies, and Lohia Corp.
  • These companies approached Sebi between May and September and obtained its observations during December 8-12.
  • Market sources estimate the combined IPO proceeds to exceed Rs 6,000 crore.
  • Yashoda Healthcare Services filed draft papers in September through a confidential route; its IPO size is expected between Rs 3,000 crore and Rs 4,000 crore.
  • Fusion CX plans to raise Rs 1,000 crore via a fresh issue of Rs 600 crore and an offer for sale of Rs 400 crore.
  • Orient Cables India Ltd aims to mobilise Rs 700 crore through a fresh issue of Rs 320 crore and an offer for sale of Rs 380 crore.
  • SFC Environmental Technologies will raise Rs 150 crore through a fresh issue and an offer for sale of 1.23 crore shares.
  • Lohia Corp’s IPO will be entirely an offer for sale of 4.22 crore equity shares with no fresh issue component.
  • All seven companies will list their shares on BSE and NSE.
Master Capital Services receives SEBI in-principle approval to sponsor mutual fund (Mid of November) ▼
  • Master Capital Services, a wholly owned subsidiary of Master Trust, has received in-principle approval from the Securities and Exchange Board of India (SEBI) to sponsor a mutual fund.
  • India’s mutual fund industry assets under management have broken through the Rs 70 trillion mark.
  • The proposed mutual fund will create equity, hybrid, and multi-asset schemes using a combination of quantitative investment methodologies with a bottom-up approach.
Securities and Exchange Board of India (Sebi) Introduces SWAGAT-FI Framework for Low Risk Foreign Investors (Start of December) ▼
  • Securities and Exchange Board of India (Sebi) introduced the SWAGAT-FI framework for Foreign Portfolio Investors (FPIs) and Foreign Venture Capital Investors (FVCIs) through two separate notifications dated December 1.
  • The new framework is named Single Window Automatic & Generalised Access for Trusted Foreign Investors (SWAGAT-FI).
  • SWAGAT-FI provides easier investment access to low risk foreign investors, enables a unified registration process, and reduces repeated compliance and documentation.
  • Sebi identified low risk foreign investors as government-owned funds, central banks, sovereign wealth funds, multilateral entities, highly regulated public retail funds, appropriately regulated insurance companies, and pension funds.
  • Sebi amended FPIs and FVCIs regulations, which will come into force on June 1, 2026.
  • Under the new framework, Sebi granted an option to SWAGAT-FIs applying for registration or already registered as FPIs to also register as FVCI without further documentation.
  • Registration under both FPI and FVCI regulations enables SWAGAT-FIs to invest in listed equity instruments and debt securities as FPI, and in unlisted Indian companies and startups as FVCI.
  • Sebi increased the periodicity for continuance of registration, including payment of fee and review of KYC documentation, to 10 years.
  • Sebi allowed retail schemes in International Financial Services Centres (IFSCs) with a resident Indian sponsor or manager to register as FPIs.
  • Sebi amended FPI Regulations to subject sponsor contributions to a maximum of 10 percent of the fund's corpus or assets under management for retail schemes.
  • As of June 30, 2025, India had 11,913 registered FPIs holding assets worth ₹80.83 lakh crore.
  • SWAGAT-FIs are estimated to contribute more than 70 percent of total FPIs' assets under custody.

SOAR – Skilling for AI Readiness: AI certificates & national campaign launch

Key Updates:

  • Ministry of Skill Development and Entrepreneurship (MSDE) organises SOAR – Skilling for AI Readiness programme at Rashtrapati Bhavan Cultural Centre, New Delhi.
  • President Droupadi Murmu will confer Artificial Intelligence certificates on learners including students and Members of Parliament.
  • President will launch the national awareness campaign #SkillTheNation Challenge to boost youth participation in future-ready skilling.

Similar Coverage

President Droupadi Murmu became second head of state to sail in submarine (End of December) ▼
  • Droupadi Murmu became the second head of state to sail in a submarine.
  • She undertook the sea sortie from Karwar Harbour in Karnataka.
  • She is the first President of India to have taken sortie in two fighter aircrafts of the Indian Air Force.
Nasha Mukt Bharat Abhiyaan (NMBA) signs MoUs with spiritual organisations to boost mass awareness (End of December) ▼
  • Department of Social Justice & Empowerment signed MoUs with Sivananda Yoga Vedanta Dhanwantari Ashram and University of Patanjali under NMBA.
  • NMBA launched on 15th August 2020 in 272 vulnerable districts and now covers all districts of India.
  • 25.7+ crore people sensitised on substance use including 9.2+ crore youth and 6.3+ crore women.
  • 15.98+ lakh educational institutions participated to spread NMBA message among children and youth.
  • MoUs signed with 8 spiritual organisations: The Art of Living, Brahma Kumaris, Sant Nirankari Mission, ISKCON, Shri Ram Chandra Mission, All World Gayatri Pariwar, Sivananda Yoga Vedanta Dhanwantari Ashram and University of Patanjali.
Droupadi Murmu attended Ol Chiki script centenary and NIT-Jamshedpur convocation (Mid of December) ▼
  • President Droupadi Murmu visited Jamshedpur and Adityapur to attend the centenary year programme of the discovery of Ol Chiki script at Disom Jaher, Karandih.
  • She delivered a speech on the concluding day of the week-long seminar on the promotion of Santhali script.
  • Murmu participated in the 15th convocation of National Institute of Technology (NIT-Jamshedpur) and awarded gold medals and degrees to graduating students.
President Droupadi Murmu Addresses Uttarakhand Legislative Assembly (Start of November) ▼
  • The President of India, Smt Droupadi Murmu, addressed the Uttarakhand Legislative Assembly.
  • The address was delivered at Dehradun, Uttarakhand.
  • The occasion was the Silver Jubilee of the formation of Uttarakhand state.
  • The President stated that 'legislative assemblies are a key pillar of our parliamentary system'.
  • She appreciated the members of Uttarakhand Legislative Assembly for implementing the Uniform Civil Code Bill.

Pradhan Mantri Matru Vandana Yojana provides cash benefit of ₹5,000 for first child and ₹6,000 for second girl child

Key Updates:

  • Pradhan Mantri Matru Vandana Yojana is a Centrally Sponsored flagship scheme to provide maternity benefits to women belonging to socially and economically disadvantaged sections of society.
  • Pregnant Women and Lactating Mothers receive a cash benefit of five thousand rupees for the first child and six thousand rupees for the second girl child.
  • Four crore 50 lakh beneficiaries are enrolled under the scheme and more than 19 thousand crore rupees has been disbursed to the beneficiaries.

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Mahatma Gandhi National Rural Employment Guarantee Act: Proposed Increase in Guaranteed Employment Days and Name Change (Mid of December) ▼
  • The government is considering a revamp of the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA).
  • The revamp proposes to increase the number of guaranteed employment days for eligible rural households from 100 to 125.
  • The proposal also includes changing the name of the law to Pujya Bapu Rural Employment Guarantee Act.
  • The Union Cabinet discussed the proposal for the scheme's expansion and name change.
  • The Ministry of Rural Development (MoRD) administers the scheme.
  • The Ministry of Rural Development (MoRD) has sought an outlay of Rs 5.23 lakh crores for five years till 2029-30 for the scheme's continuation, for approval to the Expenditure Finance Committee (EFC).
Atal Pension Yojana (APY) enrolments cross 8.34 crore (Start of December) ▼
  • Atal Pension Yojana (APY) has crossed 8.34 crore enrolments.
  • Women constitute 48% of the total subscribers.
  • Launched in May 2015, APY aims to build a universal social security system for citizens, particularly workers in the unorganised sector.
  • The scheme is open to individuals aged 18 to 40 years who have a savings bank or post-office account.
  • Subscribers receive pension benefits after turning 60, and benefits are expected to begin disbursal from 2035 onward.
Pradhan Mantri Virasat Ka Samvardhan (PM VIKAS) scheme for socio-economic empowerment of minority communities (Start of December) ▼
  • Ministry of Minority Affairs is implementing the scheme. "According to the Ministry of Minority Affairs"
  • Focuses on socio-economic empowerment of six notified minority communities through skill development, support for women entrepreneurs, and education assistance for school dropouts. "the Pradhan Mantri Virasat Ka Samvardhan PM VIKAS scheme is focused on the socio-economic empowerment of six notified minority communities through skill development, support for women entrepreneurs, and education assistance for school dropouts."
  • Aims to strengthen capacity of minority youth by providing skill training in need-based courses and linking them with employment or self-employment. "PM VIKAS aims to strengthen the capacity of minority youth by providing skill training in need-based courses and linking them with employment or self-employment avenues."
  • Allocation letters have been issued for training about 1.40 lakh beneficiaries. "allocation letters have been issued for training about 1.40 lakh beneficiaries."
  • 3 per cent of all seats across components are reserved for persons with disabilities. "As per scheme guidelines, 3 per cent of all seats across components are reserved for persons with disabilities."
Atal Bihari Vajpayee received Bharat Ratna (Start of December) ▼
  • Atal Bihari Vajpayee served three terms as Prime Minister.
  • He served a full term from 1999 to 2004.
  • He was born on 25 December 1924 in Gwalior.
  • December 25 is observed as Good Governance Day in India.
  • Vajpayee’s tenure introduced landmark programmes such as the Kisan Credit Card, Pradhan Mantri Gram Sadak Yojana, Sarva Shiksha Abhiyan and National Rural Health initiatives.

MoSPI unveils new logo and mascot to modernise institutional identity

Key Updates:

  • The Ministry of Statistics and Programme Implementation (MoSPI) unveiled a new logo and mascot to modernise its institutional identity and improve public outreach.
  • The new logo reflects the theme 'Data for Development' and highlights the importance of statistics in policy formulation and nation-building.
  • The launch aims to reinforce the role of official statistics in promoting data-driven governance and transparency.

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Finance Ministry (FinMin) unveils common logo for 28 Regional Rural Banks. (End of December) ▼
  • The Department of Financial Services, Ministry of Finance, consolidated 26 Regional Rural Banks across 11 states/UTs under the 'One State One RRB' principle effective May 1, 2025.
  • A new common logo introduced for the 28 Regional Rural Banks aims to create a single, unified brand identity nationwide.
  • The logo's dark blue colour signifies finance and trust, while green signifies life and growth, reflecting the RRBs' mission to serve rural India.
  • The branding initiative seeks to strengthen the identity and visibility of RRBs, symbolizing their collective commitment to financial inclusion and rural development.
Maharashtra Agriculture Department Updates Emblem and Tagline (Mid of November) ▼
  • The Maharashtra government has replaced its four-decade-old agriculture department emblem.
  • The old emblem, in use since 1987, featured a farmer carrying a plough.
  • The new design features a mechanised plough, reflecting the state's transition to modern and sustainable farming.
  • The new tagline is ‘Shashwat Sheti, Samruddha Shetkari' (Sustainable Farming, Prosperous Farmer).
  • The concept for the updated emblem and tagline was originally proposed by minister of state for agriculture Ashish Jaiswal.
  • The new emblem mirrors the department's role in promoting technology-driven, climate-resilient agriculture.
One State One RRB: Ministry of Finance (MoF) Unveils Unified Brand Identity for Regional Rural Banks (RRBs) (Mid of December) ▼
  • The Ministry of Finance (MoF) unveiled a new logo for Regional Rural Banks (RRBs) to signify a single and unified brand identity.
  • On the principle of 'One State One RRB', the Department of Financial Services (DFS), MoF, has consolidated 26 RRBs across 11 states/UTs, effective from May 1, 2025.
  • The colours of the RRB logo have been chosen to convey the objectives of the RRBs, where dark blue signifies finance and trust, while green signifies life and growth, reflecting their mission to serve rural India.
  • Presently, 28 RRBs continue to serve the nation through an extensive network of over 22,000 branches in more than 700 districts.
  • This common branding initiative by the government is expected to give RRBs a distinct, modern and easily recognisable brand identity nationwide, symbolising their collective commitment to financial inclusion and rural development.
Rajnath Singh addresses 100th Common Foundation Course at LBSNAA (Start of December) ▼
  • Rajnath Singh, Defence Minister, addressed the valedictory ceremony of the 100th Common Foundation Course at Lal Bahadur Shastri National Academy of Administration (LBSNAA), Mussoorie.
  • He urged young civil servants to stay mission-ready for national security and highlighted Operation Sindoor as an example of civil–military fusion.
  • Singh emphasised that good governance and national security must move together to achieve Viksit Bharat by 2047.

SPREE 2025 Extended to January 31, 2026 with No Past Dues or Inspections

Key Updates:

  • The Ministry of Labour and Employment extended the SPREE 2025 registration deadline to January 31, 2026.
  • The scheme allows unregistered employers and workers to join the ESIC framework without past dues, penalties, or inspections.
  • Registration is open through the ESIC, Shram Suvidha, and MCA portals.

Similar Coverage

National Pension System (NPS) Amendments 2025: 80% Lump-sum Withdrawal and Extended Exit Age (End of December) ▼
  • The Pension Fund Regulatory and Development Authority (PFRDA) notified amendments to the PFRDA Exits and Withdrawals Regulations, 2015, applicable to the National Pension System (NPS).
  • The permissible lump-sum withdrawal at normal exit has been increased from 60% to 80%, while the mandatory annuity portion has been reduced to 20%.
  • The maximum exit age for subscribers has been extended from 70 years to 85 years.
  • For the All Citizen Model, normal exit is now permitted after 15 years of investment or upon reaching 60 years of age, whichever is earlier.
  • The threshold for 100% lump-sum withdrawal for non-government subscribers has been raised from ₹5 lakh to ₹8 lakh.
  • The mandatory 5-year minimum subscription period previously required for premature exit has been removed for non-government subscribers.
  • New structured withdrawal mechanisms, namely Systematic Lumpsum Withdrawal (SLW) and Systematic Unit Withdrawal (SUR), have been introduced to allow periodic redemption of investment units.
  • For government subscribers with a corpus between ₹8 lakh and ₹12 lakh, a lump-sum withdrawal of up to ₹6 lakh is permitted, with the remainder accessible via SUR.
  • The list of permitted reasons for partial withdrawal has been liberalized to include medical treatment without restriction to a specific list of illnesses.
Delhi Government Abolishes Mandatory Renewal of Establishment Registrations (Mid of November) ▼
  • The Delhi government has abolished the provision of mandatory renewal of registration every 21 years for establishments.
  • This change is implemented under the Delhi Shops and Establishments Act, 1954.
  • The Labour Department of the Delhi Government has abolished the mandatory renewal of registration under Section 5 of the Act.
  • The primary objective of this decision is to promote 'Ease of Doing Business' and simplify business processes.
  • Previously, the Act mandated renewal of registration every 21 years from the date of registration.
  • This step will move the registration process towards a one-time registration model, freeing traders from the hassle of periodic renewals.
  • The registration process under the Delhi Shops and Establishments Act, 1954, is already fully online, requires no documents or fees, and issues certificates immediately, a system in effect since 2009.

India Post-SIDBI MoU for Nationwide Verification of Informal Enterprises to Boost Credit Access

Key Updates:

  • The Department of Posts (DoP) and SIDBI signed an MoU for Contact Point Verification (CPV) of Informal Micro Enterprises registered on the Udyam Assist Platform.
  • India Post will leverage its 1.64 lakh Post Offices to conduct on-ground CPV including physical verification of business existence, location, activity and key business parameters.
  • SIDBI will integrate CPV reports into the Udyam Assist Platform to strengthen data credibility and enable informed credit decisions for informal micro enterprises.
  • A dedicated digital CPV mobile application will drive the initiative, ensuring speed, transparency and nationwide scalability.
  • The MoU is valid for two years from 31 December 2025 to 30 December 2027, with provisions for extension and includes clauses on data confidentiality, dispute resolution and termination.

Similar Coverage

Securities and Exchange Board of India (Sebi) mandates NISM certification for Alternative Investment Funds (AIF) compliance officers from 2027. (Start of January) ▼
  • Sebi requires the Compliance Officer of Manager of an AIF to obtain certification from the National Institute of Securities Market by passing the NISM Series-III-C: Securities Intermediaries Compliance (Fund) Certification Examination.
  • From January 1, 2027, only certified persons can be appointed or continue as compliance officers of managers of AIFs.
  • Trustee/sponsor/managers of AIFs must reflect compliance with this requirement in the 'Compliance Test Report' prepared by the manager.
ICAI signs MoU with Indian Army for real-time UDIN verification (Start of November) ▼
  • ICAI has entered into a Memorandum of Understanding with the Army Purchase Organisation (APO), Directorate General of Supply and Transport (DGST), Indian Army to enable real-time verification of Unique Document Identification Numbers (UDINs).
  • The verification will be carried out through an application programming interface integrated within the vendor registration process of the Army Purchase Organisation.
  • The API integration aims to automate verification of Chartered Accountant-certified documents submitted by vendors, ensuring document authenticity, minimising manual errors, and mitigating fraud risk.
Infibeam Avenues Subsidiary Gets IFSCA Nod for Payment Services at GIFT-IFSC (End of October) ▼
  • Infibeam Avenues' subsidiary, IA Fintech IFSC, has secured in-principle approval from the International Financial Services Centres Authority (IFSCA) to operate as a Payment Service Provider (PSP) within Gujarat International Finance Tec-City (GIFT-IFSC).
  • The approval will allow IA Fintech to offer regulated payment and settlement services, including escrow operations, cross-border remittances, and merchant payment processing.
  • Trade finance transaction volumes at GIFT-IFSC rose from $20 billion in FY22 to $46 billion in FY25.
  • The International Financial Services Centres Authority (IFSCA) serves as the unified regulator for financial products, institutions, and services within the IFSC ecosystem.
  • GIFT-IFSC is India’s designated international financial centre located in Gandhinagar.
Bombay Stock Exchange (BSE) and Department of Posts (DoP) sign MoU to expand mutual fund access across India. (Mid of December) ▼
  • BSE and Department of Posts sign MoU to enable distribution of mutual fund products through India Post’s network.
  • Selected DoP employees will be trained and onboarded as certified mutual fund distributors via BSE StAR MF platform.
  • MoU valid for three years from December 12, 2025, with provisions for renewal.

Land Stack and Glossary of Revenue Terms (GoRT) launched to modernise India’s land governance

Key Updates:

  • Dr. Chandra Sekhar Pemmasani, Minister of State for Rural Development and Communications, launched the Land Stack in pilot locations of Chandigarh and Tamil Nadu.
  • Land Stack is an integrated GIS-based digital platform that aggregates land and property information from multiple government departments into a single-window interface.
  • Glossary of Revenue Terms (GoRT) standardises land-related terminology across states and is available in English and all 22 scheduled languages.
  • Both initiatives are part of the Digital India Land Record Modernisation Programme (DILRMP).

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PM Shri Tourism Helicopter Service Launched in Madhya Pradesh (Start of November) ▼
  • PM Shri Tourism Helicopter Service was launched in Madhya Pradesh.
  • Chief Minister Mohan Yadav, along with Union Aviation Minister Kinjarapu Rammohan Naidu, flagged off the service.
  • Madhya Pradesh has become the first state in the country to introduce intra-state connectivity and an air ambulance.
  • Through the service, tourists will now be able to enjoy spiritual and religious pilgrimages and wildlife sanctuaries in remote areas via helicopters.
  • Tourists will be offered a travel and return package, including accommodation, local transportation, breakfast, lunch, and dinner, along with a guide.
  • An MoU for the construction of an airport in Ujjain was also signed between the Central and state governments.
  • The service will begin in Sector 1 covering Indore, Ujjain, Omkareshwar, Mandu, Maheshwar, and the western region of Madhya Pradesh.
  • Sector 2 will cover Central Madhya Pradesh including Bhopal, Pachmarhi, Sanchi, and Orchha.
  • Sector 3 will cover Jabalpur, Bandhavgarh, Kanha, Khajuraho, and Chitrakoot.
IN-SPACe and SVCL Sign Agreement to Operationalise Rs 1,000 Crore Spacetech VC Fund (Mid of November) ▼
  • The Indian National Space Promotion and Authorisation Centre (IN-SPACe) and the Small Industries Development Bank of India Venture Capital Ltd (SVCL) signed a contribution agreement.
  • The agreement is to operationalise a Rs 1,000 crore venture capital fund for the Indian space sector.
  • SVCL is a 100% subsidiary of SIDBI.
  • The fund received SEBI approval on Oct 31.
  • The Union cabinet approved the VC fund for the space sector in Oct 2024.
  • In March 2025, SIDBI was appointed as the fund manager.
  • The fund is designed to provide critical early-stage and growth capital to startups working across launch technologies, satellites, payload systems, in-space services, earth observation, communication platforms, and downstream applications.
Indian Space Research Organisation (ISRO) to commission third launch pad at Satish Dhawan Space Centre, Sriharikota in four years (End of December) ▼
  • ISRO is developing a third launch pad at the Shriharikota spaceport and is currently identifying the right vendors for the project.
  • The new launch pad is required to handle bigger launch vehicles needed for satellites weighing over 12,000–14,000 kg.
  • Shriharikota complex, renamed Satish Dhawan Space Centre (SDSC) on September 5, 2002, covers 175 sq km and is located about 135 km east of Chennai.
PM to inaugurate Skyroot’s Infinity Campus and unveil Vikram-I orbital rocket (End of November) ▼
  • Prime Minister will inaugurate Indian space startup Skyroot’s Infinity Campus on 27th November at 11 AM via video conferencing.
  • He will also unveil Skyroot’s first orbital rocket, Vikram-I, with capability to launch satellites to orbit.
  • The state-of-the-art facility will have around 200,000 square feet workspace for designing, developing, integrating and testing multiple launch vehicles, with a capacity to build one orbital rocket every month.
  • Skyroot is India’s leading private space company, founded by Pawan Chandana and Bharath Dhaka, both alumni of Indian Institutes of Technology and former scientists of ISRO turned entrepreneurs.
  • In November 2022, Skyroot launched its sub-orbital rocket, Vikram-S, becoming the first Indian private company to launch a rocket to space.

Integrated Fertilizers e-Bill System: ₹2 Lakh Crore Subsidy Now Fully Digital

Key Updates:

  • Department of Fertilizers (DoF) launched the Integrated Fertilizers e-Bill System to process the entire ₹2 lakh crore annual fertiliser subsidy digitally.
  • The system enables end-to-end digital bill processing, eliminating physical movement of bills and allowing companies to submit claims and track payments online.
  • Integration between iFMS of DoF and PFMS of CGA creates a tamper-proof digital audit trail, enhances transparency, and accelerates weekly subsidy payments.

Similar Coverage

e-Jagriti Portal: Key Features and Consumer Grievance Redressal Impact (Mid of November) ▼
  • Portal Name: e-Jagriti digital consumer grievance redressal platform, Consumer Affairs Ministry, Government of India
  • Objective: Provide seamless global access and improve resolution efficiency for consumer complaints across India
  • Key Features: OTP-based registration, digital document exchange, virtual hearings, provisions for visually impaired users, paperless processing
InDApp to streamline ease of doing business for MSMEs (Start of December) ▼
  • NIRDC, an autonomous not-for-profit institution under the Ministry of Micro, Small and Medium Enterprises (MSME), launched InDApp.
  • InDApp is designed as a single-window system to accelerate access to government approvals, real-time market information and business opportunities across the country.
  • InDApp integrates physical outreach with digital services for entrepreneurs across sectors and geographies to access information on industrial opportunities, export schemes, financial subsidies and technology upgrades.
  • InDApp has been developed in coordination with seven Union Ministries — Food Processing Industries; Fisheries, Animal Husbandry and Dairying; Agriculture and Farmers Welfare; Commerce and Industry; Environment, Forest and Climate Change; Corporate Affairs; and New and Renewable Energy.
  • Target beneficiaries are micro, small and medium enterprises (MSMEs).
Union Minister Pralhad Joshi announces major digital upgrades to strengthen food storage, logistics (End of November) ▼
  • Union Minister of Consumer Affairs, Food and Public Distribution, Pralhad Joshi, launched digital initiatives aimed at modernizing warehousing operations, improving supply chain efficiency and enhancing transparency across the Public Distribution System (PDS).
  • The initiatives support the government's mission of reducing logistics costs and minimizing turnover time, a key national priority outlined by the Prime Minister.
  • The PM Gati Shakti programme has synchronized different modes of transportation and laid the foundation for an integrated logistics ecosystem.
  • Digital platforms like Bhandaran 360 will further strengthen supply chain efficiency nationwide and technology would enhance transparency in service delivery.
  • Improved coordination between stakeholders under the Department of Food and Public Distribution, supported by AI-enabled systems, will ensure that subsidized food grains reach the poorest households with greater accuracy, speed and dignity.
  • Central Warehousing Corporation's new ERP platform, 'Bhandaran 360', built on SAP S/4HANA, integrates 41 modules covering HR, finance, marketing, warehouse management, contract management, project monitoring and other core functions.
  • The system is linked with 35 external systems, including ICEGATE, port systems, FCI, NAFED, NCCF and WDRA, enabling seamless digital connectivity across the food storage and movement ecosystem.
Karnataka CM Siddaramaiah launches e-Swathu 2.0: Rs 2,000 crore revenue boost (Start of December) ▼
  • Karnataka Chief Minister Siddaramaiah launched the revamped digital platform e-Swathu 2.0.
  • e-Swathu 2.0 is expected to generate up to Rs 2,000 crore revenue by regularising 95 lakh properties in gram panchayats across the state.
  • Revenue is estimated to increase by Rs 1,778 crore, potentially up to Rs 2,000 crore with effective implementation.
  • The portal enables residents to obtain digital e-khata documents (Forms 11A and 11B) quickly and transparently.
  • All Panchayat property records will receive 11B accounts within 15 days of application, provided online and through Bapuji Centres.

India conducts salvo launch of two Pralay quasi-ballistic missiles off Odisha coast

[Odisha]

Key Updates:

  • Defence Research and Development Organisation (DRDO) conducted a salvo launch of two quasi-ballistic missiles, Pralay, off the coast of Odisha as part of user evaluation trials.
  • Both missiles followed the intended trajectory and met all flight objectives, as confirmed by tracking sensors deployed by the Integrated Test Range (ITR), Chandipur.
  • Pralay is an indigenously developed, solid-propellant quasi-ballistic missile employing state-of-the-art guidance and navigation systems to ensure high precision.
  • The missile is capable of carrying multiple types of warheads against a variety of targets and is slated for induction into the Indian Army and the Indian Air Force with a conventional warhead.
  • The system has been developed by Hyderabad-based DRDO facility Research Centre Imarat in collaboration with three Pune-based units — Armament Research and Development Establishment (ARDE), High Energy Materials Research Laboratory (HEMRL), and Research and Development Establishment (Engineers) [R&DE].

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DRDO successfully tests maiden Pinaka Long Range Guided Rocket (LRGR 120) in Odisha (End of December) ▼
  • Defence Research and Development Organisation (DRDO) on Monday successfully conducted the maiden flight test of the Pinaka Long Range Guided Rocket (LRGR 120) at the Integrated Test Range in Odisha's Chandipur.
  • The rocket was tested for its maximum range of 120 km, demonstrating all in-flight manoeuvres as planned.
  • The LRGR impacted the target with textbook precision.
  • The LRGR 120 is an extended-range, precision-guided rocket developed for the Indian Army’s Pinaka Multiple Launch Rocket System (MLRS).
  • Unlike earlier unguided Pinaka rockets, the LRGR is equipped with a guidance system that significantly improves accuracy.
  • The rocket is fired from the existing Pinaka launcher, allowing the Army to enhance capability without inducting a new launch platform.
India test fires 3,500-km K-4 missile from nuclear-powered submarine INS Arighaat on December 25, 2025 (End of December) ▼
  • India tested an intermediate-range ballistic missile called K-4, which is designed to hit targets 3,500-km away, from the nuclear-powered submarine INS Arighaat in the Bay of Bengal on Tuesday.
  • The solid-fuelled K-4 can carry a two-tonne nuclear payload and is critical for India to strengthen the sea leg of its nuclear weapons triad.
  • INS Arighaat, the country's second nuclear-powered submarine with nuclear-tipped ballistic missiles (called SSBN in naval parlance), was commissioned on Aug 29 last year.
  • India will commission its third SSBN as INS Aridhaman in the first quarter of 2026 and the fourth in 2027-28 under the secretive over Rs 90,000 crore ATV (advanced technology vessel) programme launched decades ago.
  • The operational deployment of K-4 missiles, which will be followed by the K-5 and K-6 missiles in the 5,000 to 6,000-km range class, will somewhat help India narrow the huge gap with countries like the US, Russia and China.
  • Her forerunner INS Arihant, which became fully operational in 2018, can carry only the 750-km range K-15 missiles.
  • The SSBNs impart India's deterrence posture with much more credibility because they are considered the most secure, survivable and potent platforms for retaliatory strikes in line with the country's 'no first-use' policy.
Defence Research and Development Organisation (DRDO) completes user evaluation trials of Akash-NG missile system (End of December) ▼
  • The Defence Research and Development Organisation (DRDO) successfully completed user evaluation trials of the next-generation Akash (Akash-NG) missile system, paving the way for its induction into the Indian Armed Forces. Quote: "The DRDO on Tuesday 'successfully completed' user evaluation trials of the next-generation Akash missile system, paving the way for its induction into the armed forces, officials said."
  • The Akash-NG system met all Preliminary Staff Qualitative Requirements (PSQR) and demonstrated high precision against high-speed, low-altitude, and long-range high-altitude targets. Quote: "User evaluation trials of Akash NG missile successfully completed today, meeting all PSQR requirements... The system demonstrated high precision against diverse aerial threats, including high-speed, low-altitude and long-range high-altitude targets."
  • The missile system is equipped with an indigenous Radio Frequency (RF) seeker, a dual-pulse solid rocket motor, and fully homegrown radars and Control and Command (C2) systems. Quote: "Equipped with an indigenous RF seeker, dual-pulse solid rocket motor, and fully homegrown radars and C2 systems, Akash-NG marks a major boost to India's air defence capability."
  • During the trials, the DRDO successfully intercepted aerial targets at various ranges and altitudes, including near-boundary-low-altitude scenarios. Quote: "During the trials, the missiles successfully intercepted aerial targets at different ranges and altitudes, 'including the near-boundary-low-altitude and long-range, high-altitude scenarios,' the DRDO said."
Indian Army's Southern Command conducts successful long-range precision launch of BrahMos missile (Start of December) ▼
  • The Southern Command of the Indian Army successfully carried out a long range precision launch of the BrahMos Supersonic Cruise Missile from a test range in the Bay of Bengal.
  • The launch was executed in a coordinated mission involving a BrahMos unit of the Southern Command and elements of the Tri-Services Andaman and Nicobar Command.
  • BrahMos Aerospace, which has designed and developed the missile, is a joint venture between Defence Research and Development Organisation (DRDO) and Russia’s NPO Mashinostroyenia (NPOM).
  • BrahMos is an amalgamation of the names of Brahmaputra and Moskva rivers.
  • The first successful test of the missile was conducted on June 12, 2001, from the specially designed land based launcher at the Integrated Test Range off the Chandipur coast of Odisha.
  • BrahMos saw first induction into the Indian Navy in 2005, into the Indian Army in 2007 and first successful flight from Indian Air Force’s (IAF) Sukhoi-30 MKI fighter in 2017.
  • The achievement is a testament to India’s commitment to self-reliance under the Atmanirbhar Bharat initiative.

Andre De Grasse named International Event Ambassador for Tata Mumbai Marathon

Key Updates:

  • Two-time Olympic gold medallist sprinter Andre De Grasse was named the international event ambassador for the 21st edition of the Tata Mumbai Marathon.
  • The Tata Mumbai Marathon is a World Athletics Gold Label Race.
  • De Grasse has won seven Olympic medals, including gold in the men's 200m at the Tokyo Games and the 4x100m relay in Paris 2024.

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Harmanpreet Kaur appointed as International Brand Ambassador of Vedanta Pink City Half Marathon (VPCHM) 2025 (Start of December) ▼
  • Harmanpreet Kaur is Captain of the World Cup-winning Indian Women's Cricket Team.
  • Priya Agarwal Hebbar is Non-Executive Director of Vedanta Ltd and Chairperson of Hindustan Zinc Ltd.
  • Bablu Sisodiya won the 21 km Male Category of VPCHM.
  • Ujaala won the 21 km Female Category of VPCHM.
  • Pawan Kumar won the 10 km Male Category of VPCHM.
  • Saloni won the 10 km Female Category of VPCHM.
  • VPCHM is organised by AnyBody Can Run (ABCR).
Duplantis & McLaughlin-Levrone named world athletes of year (Start of December) ▼
  • Armand Duplantis and Sydney McLaughlin-Levrone were crowned world athletes of the year at the World Athletics Awards in Monaco.
  • Sweden's Duplantis set four new pole vault world records in 2025, becoming the first human to clear the 6.30m barrier at the World Championships in Tokyo.
  • Duplantis was undefeated in 16 competitions in 2025, winning world titles both indoors and outdoors, and a fifth consecutive Diamond League crown.
  • McLaughlin-Levrone went undefeated through 2025 in both the 400m and 400m hurdles.
  • McLaughlin-Levrone became 400m world champion in Tokyo, running 47.78 seconds, which was the second fastest time in history and broke the 42-year-old championship record.
  • Duplantis won the athlete of the year prize for men's field.
  • McLaughlin-Levrone won the athlete of the year prize for women's track.
  • Australian Nicola Olyslagers, who won world high jump titles both indoors and outdoors, was named women's field athlete of the year.
  • Kenya's world 800m champion Emmanuel Wanyonyi won the men's track prize.
  • Spain's Maria Perez, who won world titles in both the 20km race walk and the 35km race walk, and London Marathon and Berlin Marathon winner Sabastian Sawe won the out of stadium awards.
Rohit Sharma named Brand Ambassador for Men's T20 World Cup 2026 (End of November) ▼
  • Rohit Sharma was named the brand ambassador of the 2026 T20 Men’s World Cup.
  • The announcement was made in Mumbai.
  • Rohit Sharma stated that no one has been announced as an ambassador while still playing.
  • Rohit Sharma was India’s 2024 T20 World Cup-winning captain.
  • The 2026 T20 Men’s World Cup will be jointly hosted by India and Sri Lanka.
  • India will play Pakistan in Colombo on February 15 during the 2026 T20 World Cup.
  • India's opener in the 2026 T20 World Cup will be against the Americans at the Wankhede.
  • Rohit Sharma stated he has been fortunate to win two International Cricket Council (ICC) events recently in his 18 years.
  • India was placed in a group with Pakistan, USA, Netherlands, and Namibia for the 2026 T20 World Cup.
Abhishek Sharma achieves No. 1 spot in International Cricket Council Men’s T20I Batter Rankings (Start of December) ▼
  • Abhishek Sharma had a record-breaking performance at the 2025 DP World Asia Cup.
  • Abhishek Sharma was propelled to the No. 1 spot in the International Cricket Council (ICC) Men’s T20I Batter Rankings.
  • Abhishek Sharma achieved the highest rating ever recorded in the ICC Men’s T20I Batter Rankings.

Bulgaria Adopts Euro on January 1, 2026

[Bulgaria]

Key Updates:

  • Bulgaria officially adopted the euro on January 1, 2026, becoming the 21st country to join the single currency.
  • The European Central Bank (ECB) president Christine Lagarde welcomed Bulgaria to the euro family.
  • Bulgaria abandoned the lev, its national currency since the late 19th century, at midnight on January 1, 2026.

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European Union (EU) welcomes Bulgaria as 21st eurozone member (Start of January) ▼
  • Bulgaria becomes the 21st of 27 EU members to adopt the euro, raising the euro-using population to 350 million.
  • The lev retires after being pegged to the Deutschmark and later the euro since 1997.
  • Euro becomes sole legal tender in Bulgaria from February 1, following a one-month dual-currency period.
  • Membership grants Bulgaria a seat on the European Central Bank (ECB) Governing Council that sets eurozone interest rates.
  • Consumer protection rules require all shops to display dual prices to curb unjustified price hikes during the changeover.
Ahmed al-Sharaa Unveiled New Banknotes as Interim President (End of December) ▼
  • Ahmed al-Sharaa, the interim President of Syria, introduced the country's new banknotes at a ceremony in Damascus to replace political imagery with agricultural symbols.
  • Abdul Qader Hosriya, the Governor of the Central Bank, announced that the currency exchange process will be completed within 90 days.
  • The new currency, which enters circulation on 1 January, features denominations of 10, 25, 50, 100, 200, and 500 Syrian pounds following the removal of two zeros.
  • Bashar al-Assad, who ruled Syria for nearly 25 years, was ousted and fled to Russia in December 2024.
  • Hafez al-Assad, the father of the ousted leader, ruled the country from 1971 until his death in 2000.
  • Syria's official news agency (SANA) reported that the new currency design is an expression of national identity and a move away from the veneration of individuals.
European Allies Shift to Radical Use of Frozen Russian Central Bank Assets After United States Halts Funding for Ukraine (Mid of December) ▼
  • Western nations agonized for years over how they might use Russian central bank assets deposited abroad to support Ukraine’s military and rebuild its shattered economy.
  • Many European officials were skeptical, concerned that doing so could amount to illegal expropriation.
  • Now that President Donald Trump has cut US funding for the government in Kyiv, Ukraine’s European allies have put aside those reservations and become more radical in their approach.
European Union leaders Von der Leyen and António Costa to be chief guests at India Republic Day 2026 (Start of January) ▼
  • European Commission President Ursula von der Leyen and European Council President António Costa will be the chief guests at India’s Republic Day celebrations on January 26.
  • Their visit will coincide with the India–EU Summit, where discussions are expected to centre on the proposed Free Trade Agreement.
  • India and the European Union resumed negotiations for a comprehensive FTA in June 2022 after a gap of over eight years.