📰 Daily Briefing Sunday, Feb 08

Daily Current Affairs: 8 February 2026

Analysis for 08 February 2026

World Bank (WB) Recommends Karnataka PSU Borrowing Model for State Fiscal Transparency

[World Bank (WB), Karnataka]

Key Updates:

  • The World Bank (WB) report for the 16th Finance Commission (FC) identified Karnataka as a template for including Public Sector Undertaking (PSU) and Special Purpose Vehicle (SPV) debt in state liabilities.
  • Karnataka amended the Karnataka Fiscal Responsibility Legislation Act in February 2014 to broaden the definition of liabilities and curb off-budget borrowing (OBB).
  • The Union Government brought 93 per cent of its off-budget liabilities, approximately ₹3.7 trillion, onto its balance sheet by Financial Year (FY) 2022.
  • The WB found discrepancies in OBB reporting for 2021-22, noting Tamil Nadu reported ₹594 crore against the Comptroller and Auditor General of India (CAG) estimate of ₹12,357 crore.
  • West Bengal disclosed ₹1,089 crore in OBB compared to the CAG audit figure of ₹4,311 crore for an earlier year.
  • In 2022-23, spending under Minor Head 800 – Others accounted for over 15 per cent of expenditure in Madhya Pradesh, nearly 15 per cent in Tamil Nadu, and close to 12 per cent in Andhra Pradesh.
  • State entities borrowed between ₹3.1 trillion and ₹4.9 trillion annually from Public Sector Banks (PSBs) from 2018-19 to 2022-23.
  • Major lenders for state-level OBB include the National Bank for Agriculture and Rural Development (NABARD), Housing and Urban Development Corporation (HUDCO), REC, and Power Finance Corporation (PFC).
  • The report proposed a standardised reporting framework for OBB to be enforced by the CAG under Article 150 of the Constitution.

Similar Coverage

Export Preparedness Index (EPI) 2024: Maharashtra tops rankings (Mid of January) ▼
  • NITI Aayog released the fourth Export Preparedness Index (EPI) 2024 on Jan 14, 2026, where Maharashtra emerged as the top-performing state followed by Tamil Nadu and Gujarat.
  • The rankings place Maharashtra at the top, followed by Tamil Nadu, Gujarat, Uttar Pradesh, Andhra Pradesh, Karnataka and Punjab, reflecting states’ readiness in terms of export potential, policy support and performance outcomes.
  • Among the smaller states and Union Territories, Uttarakhand secured the top position, followed by Jammu and Kashmir, Nagaland, Dadra and Nagar Haveli & Daman and Diu, Goa and Tripura.
  • The EPI 2024 follows a consistent, data-driven methodology to assess states across parameters such as export policies, business environment, infrastructure quality and export outcomes.
  • NITI Aayog CEO B V R Subrahmanyam stated that the index helps states in fostering ecosystems that can respond to new opportunities, align with global standards, and build competitiveness across districts.
Kerala Unveils India’s First Elderly Budget with ₹40 Crore Allocation for Geriatric Care (Start of February) ▼
  • Kerala became the first state in India to present a dedicated Elderly Budget during the presentation of the State Budget 2026-27.
  • Finance Minister K. N. Balagopal presented the document as part of the final budget of the Communist Party of India (Marxist) (CPIM) led government.
  • Senior citizens currently constitute 18.7 per cent of the state population, a figure projected to reach nearly 25 per cent within the next ten years.
  • The government allocated ₹30 crore to provide subsidies for retirement homes featuring community kitchens, playgrounds, and healthcare systems.
  • An allocation of ₹10 crore was made to form volunteer forces under Local Self-Government Institutions (LSGI) to assist elderly people living alone.
  • The LSGI will implement schemes including a dedicated telephone number for on-call medical and volunteer assistance.
  • The population of people aged 60 and above in Kerala is projected to double from 4.2 million in 2011 to 8.4 million by 2036.
  • Kerala was the first state in the country to constitute an Elderly Commission to address geriatric care and socio-economic development planning.
16th Finance Commission retains states’ tax share at 41% (Start of February) ▼
  • The sixteenth Finance Commission recommended retaining the state’s share in the divisible tax pool at 41% for the five-year period beginning April 1, 2026.
  • The commission recommended ending revenue deficit grants for the states.
  • The commission added states’ contribution to GDP among its horizontal devolution criteria.
  • The commission recommended stricter fiscal discipline for states and annual disclosure of net proceeds of Union taxes certified by the Comptroller and Auditor General.
  • States are required to disclose their off-budget borrowings.
  • The commission enhanced disaster grants and enforced stricter timelines for fund transfers to local governments with higher penalties for failure.
  • For horizontal devolution, the commission will give 15.5% weightage to population based on 2011 census, 10% to demographic performance, 10% each to area and forest cover, 42.5% on per-capita income distance, and the rest on states’ contribution to GDP.
  • Of total grants of Rs 7.91 lakh crore to rural and urban local bodies, 60% is earmarked for rural local bodies and 40% for urban local bodies, with 20% grant to be performance-linked.
  • Half of the basic grant is tied to sanitation, solid waste management, and water management.
  • The commission proposed an urbanisation premium of ₹10,000 crore to incentivise merger of peri-urban villages into larger urban local bodies.
  • A ₹56,100-crore special infrastructure window is proposed for comprehensive wastewater management in select urban growth centres.
  • States must transfer funds to local bodies within 10 working days of receipt from the centre, failing which interest will be payable.
  • The commission recommended a combined ₹2.04 lakh crore corpus for State Disaster Response and Mitigation Funds over five years with an 80:20 split between response and mitigation.
  • The centre’s share is capped at ₹1.56 lakh crore for disaster management.
  • The commission proposed separate allocations of ₹79,406 crore for the National Disaster Response and Mitigation Funds.
  • From 2027-28 onwards, states must fully upload and validate data on the National Disaster Management Information System portal to access disaster grants.
  • The commission called for strict enforcement of a 3% gross state domestic product (GSDP) cap on states’ fiscal deficits and discontinuation of off-budget borrowings.
  • The centre accepted the borrowing cap for states in principle and will examine other fiscal recommendations separately.
India slashes Chabahar Port aid to zero in Union Budget 2026-27 (Start of February) ▼
  • Union Budget 2026-27 allocated ₹0 to Iran’s Chabahar Port, down from ₹400 crore in FY 2024-25 and ₹100 crore initially in FY 2025-26.
  • US sanctions on Iran and a potential 25% tariff warning from the Trump administration influenced the funding pause.
  • India holds a six-month US exemption for Chabahar Port participation ending 26 April 2026.
  • Bhutan remains the largest aid recipient at ₹2,288 crore in Budget 2026-27.
  • Bangladesh’s allocation dropped to ₹60 crore in Budget 2026-27 after being revised to ₹34 crore in FY 2025-26.
  • Maldives received ₹550 crore, Sri Lanka ₹400 crore, Nepal ₹800 crore, Myanmar ₹300 crore, Afghanistan ₹150 crore, Mongolia ₹25 crore, African countries ₹225 crore, Mauritius ₹550 crore, and Seychelles ₹19 crore under Aid to Countries in Budget 2026-27.
  • Total Aid to Countries outlay for FY 2026-27 is ₹5,686 crore, about 4% higher than FY 2025-26 Budget Estimates of ₹5,483 crore.

Reserve Bank of India (RBI) introduces risk-based deposit insurance premium from April 2026

[Reserve Bank of India (RBI)]

Key Updates:

  • Reserve Bank of India (RBI) on Friday issued the risk-based premium framework for deposit insurance.
  • Deposit Insurance and Credit Guarantee Corporation (DICGC) will implement the new system from April 1, 2026.
  • Category A banks, considered the safest, will pay 8 paise per ₹100 of deposits.
  • Category D banks will continue to pay the current rate of 12 paise per ₹100 of deposits.
  • All banks now pay the same premium of 12 paise for every ₹100 of assessable deposits under the flat premium system.
  • DICGC has been providing deposit insurance since 1962 using a flat premium system.
  • Banks will be grouped into 4 risk categories: A, B, C and D.
  • Risk assessment will be based on audited financial data and supervisory ratings.

Similar Coverage

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.
Government to propose 100% FDI cap in insurance sector; Insurance Laws (Amendment) Bill, 2025 listed for Winter Session (End of November) ▼
  • The government will introduce the Insurance Laws (Amendment) Bill, 2025 in the Winter session of Parliament to raise the FDI limit in insurance from 74% to 100%.
  • The bill seeks to amend the Insurance Act 1938, the Life Insurance Corporation Act 1956 and the Insurance Regulatory and Development Authority Act 1999.
  • So far, the insurance sector has attracted Rs 82,000 crore in FDI.
  • The Securities Markets Code Bill, 2025 will merge the SEBI Act 1992, Depositories Act 1996 and Securities Contracts (Regulation) Act 1956 into a single framework.
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.
Life Insurance Corporation of India (LIC) Launches Protection Plus and Bima Kavach Plans (Start of December) ▼
  • Life Insurance Corporation of India (LIC) launched two new insurance plans: Protection Plus (Plan 886) and Bima Kavach (Plan 887).
  • LIC's Protection Plus (Plan 886) is a non-participating, linked life insurance plan with a minimum entry age of 18 years and a maximum entry age of 65 years.
  • The minimum basic sum assured for Protection Plus is 7 times or 5 times the annualized premium for entry ages less than 50 years and 50 years and above, respectively.
  • Protection Plus offers premium paying terms of 5, 7, 10, and 15 years for policy terms of 10, 15, 20, and 25 years, allowing partial withdrawals after 5 years.
  • LIC's Bima Kavach (Plan 887) is a non-participating, non-linked, individual life insurance plan offering pure risk protection.
  • The minimum entry age for Bima Kavach is 18 years (last birthday), and the maximum entry age is 65 years (last birthday).
  • The minimum basic sum assured for Bima Kavach is ₹2,00,00,000 (₹2 crore).
  • Bima Kavach offers single, limited (5, 10, and 15 years), and regular premium payment options, with two death benefit options: level sum assured and increasing sum assured.
  • The maximum policy term for Bima Kavach is 82 years, subject to a maximum age at maturity of 100 years.

Kotak Mahindra Bank issues India's first fully digital Foreign Portfolio Investor (FPI) licence

[Kotak Mahindra Bank]

Key Updates:

  • Kotak Mahindra Bank has become the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence through a fully digital onboarding process.
  • The bank completed the entire account-opening process for overseas investors using electronic signatures.
  • The bank has already issued two FPI licences based entirely on digitally signed documents.
  • The move follows the Securities and Exchange Board of India (SEBI) operationalising a unified digital workflow in January 2026.

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Reserve Bank of India (RBI) grants Paysharp Payment Aggregator-Physical licence (End of January) ▼
  • Chennai-based fintech Paysharp received RBI Payment Aggregator-Physical (PA-P) licence on 21 January 2026.
  • Paysharp had earlier obtained RBI Payment Aggregator-Online (PA-O) licence in August 2024.
  • The company follows a flat-pricing model for merchants across government, B2B enterprises, NBFCs and e-commerce sectors.
  • Paysharp has raised ₹23.5 crore across two funding rounds for product development, regulatory compliance and payments infrastructure expansion.
Reserve Bank of India (RBI) slaps ₹61.95 lakh fine on Kotak Mahindra Bank. (End of December) ▼
  • RBI imposed the penalty for non-compliance with norms on Basic Savings Bank Deposit (BSBD) account, business correspondents, and credit information companies.
  • Kotak Mahindra Bank opened additional BSBD accounts for customers who already held such accounts.
  • The bank engaged business correspondents for activities outside the permitted scope.
  • The lender furnished inaccurate borrower information to credit information companies.
1729 Capital gets RBI nod to raise Suryoday stake (End of November) ▼
  • RBI granted approval to foreign portfolio investor 1729 Capital to hold a total stake of 7.14% in Suryoday Small Finance Bank.
  • As of September 30, the foreign portfolio investor held a 3.81% stake in the bank.
  • The RBI clarified that prior consent will be required for any further increase in aggregate shareholding or voting rights.
  • If the aggregate shareholding falls below 5%, the investor will again need prior RBI approval to raise the holding to 5% or more.
Government Notifies Amendments to the Capital Gains Accounts Scheme, 1988 to Enable Electronic Payments and Digital Processes (End of November) ▼
  • The CBDT vide Notification No. 161/2025 dated November 19, 2025 has notified the Capital Gains Accounts (Second Amendment) Scheme, 2025.
  • The Scheme now formally incorporates section 54GA, allowing depositors claiming exemption on account of shifting of industrial undertakings from urban areas to Special Economy Zones to use CGAS accounts.
  • A detailed definition of “electronic mode” has been inserted, enabling deposits through Credit/Debit Cards, Net Banking, IMPS, UPI, RTGS, NEFT and BHIM Aadhaar Pay.
  • All earlier references to “cheque or draft” have been expanded to include electronic mode of payment across application and deposit processes.
  • The effective date of deposit for exemption purposes will now be the date on which the electronic payment is received by the deposit office, subject to realization.
  • Depositors may now use electronic statements of account in place of physical passbooks for operations such as withdrawals, transfers, or account closure.
  • Closure of CGAS accounts shall only be executed electronically using digital signature or electronic verification code (EVC) starting 1 April 2027.
  • The Principal Director General of Income-tax (Systems) is assigned responsibility for prescribing procedures for Form G and Form H filing, forwarding digitally filed forms to jurisdictional Assessing Officers, specifying the standards for EVC generation, and ensuring secure storage, archival, and retrieval of electronically submitted forms.
  • Forms A and C have been updated to include section 54GA, provide fields for transactions made via electronic modes, and insert new fields for RTGS/IMPS/NEFT transaction details under the deposit office section.

Startup India programme widened to include deep-tech firms and cooperative societies

Key Updates:

  • Department for Promotion of Industry and Internal Trade (DPIIT) notified revised norms expanding Startup India eligibility.
  • General startups now recognised up to 10 years from incorporation with annual turnover not exceeding ₹200 crore.
  • Deep-tech startups eligible for 20 years from incorporation with turnover cap raised to ₹300 crore.
  • Multi-state and state-registered cooperative societies included as eligible entities under the framework.
  • Entity formed by splitting or reconstruction of an existing business cannot qualify as a startup.
  • Deep-tech startup must focus on new scientific or engineering knowledge, incur high R&D expenditure, and create significant novel intellectual property.
  • Recognised startups gain access to government funding schemes, tax exemptions and regulatory relief.
  • India has recognised more than 200,000 startups since Startup India launch in 2016.

Similar Coverage

Revised Startup Recognition Norms Increase Turnover Limits and Add Deep-Tech Category (Start of February) ▼
  • The Department for Promotion of Industry and Internal Trade (DPIIT) notified revised startup recognition criteria on 5 February 2026.
  • General startup turnover limit raised from ₹100 crore to ₹200 crore.
  • New 'Deep Tech Startup' sub-category introduced with age limit extended to 20 years and turnover cap of ₹300 crore.
  • Multi-State Cooperative Societies registered under the Multi-State Cooperative Societies Act, 2002 and cooperative societies under State/UT Acts now eligible for startup recognition.
Industrial Research and Development Promotion Program removes 3-year viability norm for deep-tech startups (Start of January) ▼
  • Department of Scientific and Industrial Research (DSIR) has removed the mandatory three-year viability criteria for deep-tech startups to access up to Rs 1 crore under the Industrial Research and Development Promotion Program (IRDPP).
  • Startups must still meet evaluation standards linked to technological maturity.
  • The change is intended to accelerate scaling of deep-tech startups and provide early momentum to innovators.
Karnataka hosts 39% of India’s 890 GenAI startups as ecosystem triples in H1 2025 (End of January) ▼
  • Karnataka accounts for 39% of India’s Generative AI (GenAI) startups as per Economic Survey 2025-26.
  • India’s GenAI startup count surged threefold to 890 in the first half of 2025 from 240 in the first half of 2024.
  • GenAI startups raised $76.4 million year-to-date across 18 funding rounds as per Tracxn data.
  • Deep tech industry funding rose 78% during calendar year 2024.
  • Karnataka leads the country with 43 State Public Universities supporting the talent pipeline.
  • India’s technology startup ecosystem is ranked third-largest globally.
  • India operates a deep-tech Fund of Funds under the ₹1 lakh crore RDI initiative to finance advanced research.
  • Karnataka’s tier-2 and tier-3 cities are witnessing spill-over growth in deep-tech and advanced manufacturing.
  • India’s space sector is projected to reach $44 billion by 2047 with over 300 startups, with Bengaluru and Belagavi as key hubs.
Prime Minister Modi celebrates decade of Startup India movement (Mid of January) ▼
  • Prime Minister Narendra Modi celebrated the tenth anniversary of the Startup India Movement on National Startup Day.
  • He congratulated stakeholders and highlighted the courage, spirit of innovation and entrepreneurial zeal of India’s youth powering India’s rise in the global startup ecosystem.
  • Modi emphasized reforms creating a conducive atmosphere for startups to venture into areas like space and defence.
  • He noted Indian startups are contributing to Atmanirbhar Bharat by turning youth into problem solvers.
  • The Prime Minister acknowledged the role of mentors, incubators, investors and academic institutions in supporting startups.
  • Startup India was launched on 16 January 2016 to nurture innovation and promote entrepreneurship.
  • Over the past decade more than 2,00,000 startups have been recognised across India, driving employment and innovation-led economic growth.

RailOne app replaces UTS app with 3% digital payment incentive

Key Updates:

  • Ministry of Railways (MoR) will discontinue the UTS mobile app from 1 March 2026.
  • Passengers must migrate to the RailOne super app launched in 2025.
  • RailOne supports existing UTS and RailConnect login credentials.
  • Users booking unreserved tickets via RailOne receive a 3% discount on all digital payment modes from 14 January 2026 to 14 July 2026.
  • The 3% R-wallet cashback for unreserved tickets continues unchanged.

Similar Coverage

Ministry of Railways awards Titagarh Rail Systems ₹273.24 crore order for 62 Rail Borne Maintenance Vehicles. (Mid of December) ▼
  • The contract covers design, manufacturing, supply, testing, commissioning, training, servicing and breakdown maintenance support for 62 Rail Borne Maintenance Vehicles.
  • Supply of the machines is expected to begin within 15 months from the date of order placement.
  • Delivery of all 62 vehicles along with the complete set of spares is scheduled to be completed within 48 months.
  • Titagarh Rail Systems’ total order book stands at around ₹15,100 crore, translating into a 4.5x book-to-bill ratio.
  • Nuvama maintains a Buy rating on Titagarh Rail Systems with a revised target price of ₹1,088, implying a 40.5% upside from the current market price of ₹774.
OTP-based ticketing system to enhance transparency in 300 trains (Mid of January) ▼
  • Indian Railways (IR) introduced an OTP (One Time Password)-based ticketing system in 300 major trains across the country to enhance transparency and check touts.
  • The system applies to online ticket bookings as well as counter tickets in premium trains such as Rajdhani, Shatabdi and Duronto Express services.
  • Under the new arrangement, passengers booking tickets at railway counters are now required to provide a valid mobile number on which an OTP can be received to issue tickets.
  • The North Central Railway (NCR) stated the measure will effectively curb fake bookings, multiple ticket purchases by a single individual, and the involvement of unauthorised agents.
  • The OTP-based ticketing system is being rolled out in a phased manner and may be gradually extended to all trains if the results are positive.
NeSDA Way Forward December 2025 Report: 24,090 e-services across States/UTs (End of January) ▼
  • Department of Administrative Reforms & Public Grievances (DARPG) released the 32nd NeSDA Way Forward monthly report for December 2025.
  • 24,090 e-services are provided across States/UTs.
  • 8,656 e-services relate to Local Governance & Utility Services.
  • 156 new e-services were added by States/UTs in November 2025.
  • 21 States/UTs achieved over 90% saturation of 59 mandatory e-services: Andaman & Nicobar Islands, Andhra Pradesh, Chandigarh, Chhattisgarh, Gujarat, Haryana, Himachal Pradesh, Jharkhand, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Meghalaya, Punjab, Rajasthan, Tamil Nadu, Telangana, Tripura, Uttar Pradesh, Uttarakhand and West Bengal.
  • Portals providing 100% services are Assam (Sewa Setu), Jammu & Kashmir (e-UNNAT), Karnataka (Seva Sindhu), Odisha (Odisha One), Madhya Pradesh (MP e-Service), Uttarakhand (Apuni Sarkar) and Kerala (e-Sevanam).
  • Over 90% of services are provided by 4 States/UTs through their Unified Service Delivery Portals: e-District Chandigarh, e-District Delhi, Saral Haryana and e-Mitra (Rajasthan).
  • National Digital Library of India (NDLI) and Central Government Health Scheme (CGHS) are highlighted as best-practice portals of Central Government Ministries/Departments.
  • City-level digital platforms of Puducherry and Guwahati Municipalities are showcased as best practices.
18th Urban Mobility India (UMI) Conference and Expo 2025: Objectives and Focus Areas (Mid of November) ▼
  • The Gurugram Metro Rail Limited (GMRL) will host the 18th Urban Mobility India (UMI) Conference and Expo 2025 in Gurugram.
  • The objective of the event is sharing best practices in urban mobility at the national and global level.
  • The conference will feature technical sessions related to urban transportation, modernising public transport, e-mobility, road safety, traffic management, and sustainable development.
  • Experts, policymakers, city planners, and industry representatives from across the country and abroad will be attending the event.

FASTag Annual Pass Crosses 50 Lakh User Mark with ₹3,000 One-Time Fee

Key Updates:

  • The Ministry of Road Transport and Highways (MoRTH) reported that the FASTag Annual Pass has crossed 50 lakh users with over 26.55 crore transactions recorded within six months of launch.
  • The initiative was launched on August 15, 2025, to provide financial relief to commuters using national highways.
  • The pass is applicable for all non-commercial vehicles with a valid FASTag and requires a one-time fee payment of ₹3,000.
  • The validity of the pass is for one year or 200 toll plaza crossings, applicable at approximately 1,150 fee plazas on National Highways and National Expressways.
  • Chandigarh leads in usage accounting for 14 per cent of total transactions, followed by Tamil Nadu at 12.3 per cent and Delhi at 11.5 per cent.
  • Bijwasan Fee Plaza in Delhi NCR is the leading location with 57 per cent of car crossings using the pass, followed by Mundaka in Delhi NCR and Jhinjholi in Sonipat at 53 per cent each.
  • The pass can be activated within two hours through the Rajmargyatra App or the National Highways Authority of India (NHAI) website.

Similar Coverage

Wise launches mid-market rate Travel Card in India (Mid of December) ▼
  • Wise launched its multi-currency Travel Card in India.
  • India recorded 3.89 crore outbound departures in 2024.
  • Over 75,000 Indians joined the waitlist for the Wise Travel Card.
  • Indians spent nearly USD17 billion overseas last year, a steep increase from the USD3–4 billion annual average before FY22.
  • Traditional forex cards apply 2–4 per cent non-transparent margins on currency conversions.
  • These margins add INR4,000– INR8,000 in extra costs on a INR2 lakh transaction.
  • The Wise Travel Card supports more than 40 currencies.
  • The card works across 160+ countries on the Visa network.
  • Users receive free ATM withdrawals up to USD200 per month.
  • Beyond the USD200 limit, a fee of USD 1.40 plus 3.25 per cent applies for ATM withdrawals.
  • Wise is waiving its INR460 card issuance fee for new customers signing up before 10 February 2026.
  • The Wise Travel Card carries no annual, subscription, or inactivity fees.
IDFC FIRST Bank Launches Gaj: Metal Credit Card for Private Banking Customers (End of December) ▼
  • IDFC FIRST Bank has launched 'Gaj:', an invitation-only premium metal credit card designed for high-net-worth individuals (HNI).
  • The card represents the final installment of the Bank's Ashva- Mayura- Gaj: trilogy of premium metal credit cards.
  • The card carries a joining and annual fee of ₹12,500 plus GST, with the annual fee waived on annual spends of ₹10 lakh.
  • The offering includes 12,500 invitation Reward Points, where 1 Reward Point equals ₹1 for travel bookings.
  • Key features of the card include 0% foreign exchange markup and interest-free global ATM cash access.
  • The card provides a ₹50,000 Trip Cancellation Cover and offers up to 50X rewards on hotels and 25X on flights via the bank's ecosystem.
  • As of September 30, 2025, IDFC FIRST Bank serves 35 million customers with a total business value of ₹5,35,673 crore ($60.4 billion).
  • The bank's customer deposits grew 23.4% year-on-year to ₹2,69,094 crore, while loans and advances grew 19.7% to ₹2,66,579 crore.
  • IDFC FIRST Bank operates 1,041 branches and reaches over 60,000 cities, towns, and villages across India.
  • The bank has impacted over 40 million lives through social initiatives, including financing 3.6 million women entrepreneurs and 300,000+ SMEs.
ASK Private Wealth and Hurun India recognize Innoviti as a Cheetah in India Cheetah-Gazelle-Unicorn Index 2025 (Mid of December) ▼
  • Innoviti Technologies was recognized by ASK Private Wealth and Hurun India as a Cheetah in their India Cheetah-Gazelle-Unicorn Index for the year 2025.
  • The recognition for Innoviti Technologies was for Excellence in SaaS-Based Payment Solutions.
  • Innoviti unipay powers 18 of top 20 retail enterprises in the country.
  • Innoviti genie helps more than 4000 local mobile merchants.
  • Innoviti link is India's highest rated payment links app with 50,000+ downloads and a 4.7-star rating on Play Store and App Store.
  • Innoviti achieved operating profitability in May 2025.
  • Innoviti's payments-centric SaaS software processes over Rs. 80,000 Crore annually from across 2000 cities and over 20,000 merchants.
  • The company processes more than 50% of all purchases in enterprise retailers across food & grocery, lifestyle, and healthcare categories.
  • Innoviti is backed by Bessemer Venture Partners (USA), FMO (Netherlands), Catamaran Ventures (India), and the Patni Family Office (India).
  • Innoviti is the recipient of the Reserve Bank of India's (RBI) final authorization to operate as an online payment aggregator.
  • Innoviti won the 50 fastest growing companies in Asia award from Deloitte four times.
  • Innoviti has 14 patents awarded, with 11 more in the pipeline.
  • Innoviti received the award on Tuesday, December 16, 2025.
Smart India Hackathon 2025 Grand Finale: 8,160 students code across 60 centres (Mid of December) ▼
  • The eighth edition of Smart India Hackathon (SIH) 2025 Grand Finale is being held simultaneously at 60 nodal centres—42 software hubs and 18 hardware hubs.
  • A total of 72,165 ideas were submitted by 68,766 student teams, out of which 1,360 teams comprising 8,160 students qualified for the 36-hour national coding and prototyping marathon.
  • Among the finalists, 2,993 are female students including 53 all-women teams, highlighting the initiative’s commitment to women-led innovation.

NITI Aayog Unveils ASSET Blueprint for Andhra Pradesh Clean Energy Hub by 2035 with ₹7.5 Lakh Crore Investment

[Andhra Pradesh]

Key Updates:

  • National Institution for Transforming India (NITI Aayog) unveiled a draft blueprint under the Accelerating Sustainable State Energy Transition (ASSET) platform to transform Andhra Pradesh into a top renewable energy hub by 2035.
  • The plan proposes a total sectoral investment of ₹7.5 lakh crore, comprising ₹3.3 - ₹3.4 lakh crore for the state energy transition and ₹4 - ₹4.2 lakh crore for a renewable energy export hub.
  • Private players are expected to contribute 90% of the total investment, which is projected to create 5-6 lakh new jobs.
  • For domestic needs, the state aims to add 35 Gigawatt (GW) of solar, 12 GW of wind, and 55-60 Gigawatt-hour (GWh) of storage capacity by 2035.
  • The export-oriented capacity targets include 30 GW of solar, 25-30 GW of wind, and 10-12 GW of pumped storage projects for national supply.
  • Infrastructure investments include ₹65,000-₹70,000 crore for transmission modernisation through green corridors and High Voltage Direct Current (HVDC) lines, plus ₹40,000 crore for distribution networks.
  • NITI Aayog estimates power purchase costs will fall to ₹3.90 - ₹4 per unit, while supply costs will be maintained below ₹6 per unit.
  • The blueprint is scheduled for finalisation by March 2026, with implementation beginning in mid-March 2026 under the monitoring of a dedicated Energy War Room.

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ASSET (Accelerating Sustainable State Energy Transition) platform aims to make Andhra Pradesh a top-three renewable energy hub by 2035. (Start of February) ▼
  • NITI Aayog unveiled a draft blueprint under the ASSET platform to transform Andhra Pradesh into one of India’s top three renewable energy hubs by 2035.
  • The plan envisages total sectoral investments of Rs 7.5 lakh crore, with 90% expected from private players and the creation of 5-6 lakh new jobs.
  • Andhra Pradesh targets adding 35 GW solar, 12 GW wind, and 55-60 GWh storage capacity for domestic needs, plus 30 GW solar, 25-30 GW wind, and 10-12 GW pumped storage for national exports by 2035.
  • Power purchase costs are estimated to fall to Rs 3.90 - Rs 4 per unit, with supply costs kept below Rs 6 per unit, benefiting households, farmers, and industries.
  • Infrastructure upgrades include Rs 65,000-Rs 70,000 crore for transmission modernisation and Rs 40,000 crore for strengthening distribution networks.
  • The blueprint will be finalised by March 2026 and implementation is expected to begin mid-March, monitored by a dedicated ‘Energy War Room’.
Draft National Electricity Policy (NEP) 2026 targets 2,000 kWh per capita consumption and 100 GW nuclear capacity (End of January) ▼
  • The Ministry of Power (MoP) launched the Draft National Electricity Policy (NEP) 2026 on Jan 21, 2026, to transform India’s power sector to meet the vision of Viksit Bharat @2047.
  • The Draft NEP 2026 sets a target of 2,000 kWh per capita electricity consumption by 2030, rising to over 4,000 kWh by 2047.
  • The policy mandates a 45% reduction in emissions intensity by 2030 (vs 2005) and aims for net-zero emissions by 2070.
  • The NEP 2026 promotes low-carbon pathways through large-scale renewable integration and nuclear expansion to 100 GW by 2047.
  • By 2030, renewable energy sources will have equal scheduling and deviation rights as conventional sources like coal.
  • The policy aims for single-digit Aggregate Technical and Commercial (AT&C) losses and mandates N-1 Redundancy for cities with over 10 lakh people by 2032.
  • The NEP 2026 introduces functional unbundling of State Transmission Utilities (STUs) to create independent SLDCs and mandates that all power sector data must be stored in India.
  • The MoP proposes exempting cross-subsidies for industries, railways, and metros to lower power costs and boost manufacturing competitiveness.
India Reaffirms 500 GW Non-Fossil Target and 266 GW Renewable Milestone at 16th IRENA Assembly (Mid of January) ▼
  • India’s Union Minister for New and Renewable Energy, Pralhad Joshi, delivered the national statement at the 16th Assembly of the International Renewable Energy Agency (IRENA) in Abu Dhabi, UAE, on January 12, 2026.
  • Joshi reaffirmed India’s target of 500 GW non-fossil fuel capacity by 2030 and Net Zero emissions by 2070.
  • India achieved 50 percent of its installed electricity capacity from non-fossil fuel sources in 2025, five years ahead of its Paris Agreement NDC target.
  • India’s renewable energy capacity now exceeds 266 GW, with nearly 50 GW added in 2025 alone.
  • Under PM Surya Ghar Muft Bijli Yojana, 2.5 million households gained rooftop solar in under two years, targeting 10 million by March 2027.
  • PM-KUSUM has been deployed for 2.17 million farmers via diesel pump replacements and solarised agricultural feeders.
  • India requires USD 300 billion by 2030 for renewables, storage, green hydrogen, grids, and manufacturing.
  • Joshi urged international collaboration on technology transfer, low-cost finance, capacity building, and standards harmonisation, especially for developing nations.
  • In a bilateral meeting, Joshi discussed with the UAE's Minister of Climate Change and Environment, Amna bint Abdullah Al Dahak, ways to deepen ties in renewables, decentralised energy, manufacturing, storage, and blended finance.
India unveils first-of-its-kind R&D roadmap to deploy Carbon Capture, Utilization and Storage (CCUS) for 2070 net-zero target (Start of December) ▼
  • India has launched the first of its kind R&D roadmap to enable the country's net-zero emission targets of 2070 through Carbon Capture, Utilization and Storage (CCUS).
  • The roadmap will leverage the government's Rs 1 lakh crore Research, Development and Innovation (RDI) funding pathways to accelerate CCUS development and deployment.
  • It will guide coordinated action, foster collaboration, and enable investments that accelerate technology deployment for reducing carbon footprints across hard-to-abate sectors such as cement, power and steel.
  • India early this year unveiled a pioneering national initiative of creating five Carbon Capture and Utilisation (CCU) testbeds in the cement sector, forming a first of its kind research and innovation cluster to combat industrial carbon emissions.

Odisha hosts Black Swan Summit India on AI, FinTech, and InsurTech

Key Updates:

  • The Black Swan Summit India, a two-day conference on AI, FinTech, and InsurTech, commenced.
  • President Droupadi Murmu and Odisha Chief Minister Mohan Charan Majhi are expected to participate.
  • The summit is organised by the Odisha government and GFTN.
  • Visha Dev, additional chief secretary of the electronics and information technology department, stated Odisha aims to establish Bhubaneswar as a key centre for AI-driven financial technologies.
  • The summit aligns with the state's commitment to contribute to 'Viksit Bharat' through technology-led governance and digital infrastructure.
  • Over 1,700 delegates from 24 countries and nearly 100 speakers across five continents are attending the summit.

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World Governments Summit 2026 commences in Dubai with participation from over 150 nations (Start of February) ▼
  • The World Governments Summit 2026 is being held in Dubai from 3 to 5 February under the theme 'Shaping Future Governments'.
  • More than 6,000 participants, including over 35 heads of state and government and over 500 ministers, are attending the summit.
  • Leaders confirmed to attend include King Jigme Khesar Namgyel Wangchuck of Bhutan, President Guy Parmelin of Switzerland, President Daniel Noboa of Ecuador, President Alar Karis of Estonia, and President Gordana Siljanovska-Davkova of North Macedonia.
  • Prime Ministers of Spain, Albania, Georgia, Egypt, and Bhutan are among the heads of government participating.
  • The summit features 24 specialised global forums, more than 35 ministerial and high-level meetings, and over 320 sessions with more than 450 global figures.
  • Over 100 international and regional organisations are participating, including the International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), International Finance Corporation (IFC), World Bank, OPEC Fund, and Gulf Cooperation Council (GCC).
  • India Today anchors will moderate four sessions: 'Are Governments Building Systems or Buying Products?' on 4 February, 'Carbon Costs: Preparing for the Next Trade Barrier', 'Building The Next Economic Systems: Lessons from Emerging Market Founders', and 'Design Digital Lifestyles: From Infrastructure to Experience' on 5 February.
  • The summit will issue 36 strategic reports and present four global awards for innovation, reform, sustainability, and educational leadership.
European Union leaders attend 77th Republic Day of India as Chief Guests and co-chair 16th EU-India Summit (End of January) ▼
  • President of the European Council Antonio Costa and President of the European Commission Ursula von der Leyen paid a State Visit to India on 25–27 January 2026 as Chief Guests for the 77th Republic Day of India.
  • A contingent of the European Union Military Staff and the European Union Naval Operations ATALANTA and ASPIDES participated in the Republic Day Parade for the first time.
  • Prime Minister Narendra Modi co-chaired the 16th EU-India Summit with President Costa and President von der Leyen in New Delhi on 27 January 2026.
  • The EU-India Free Trade Agreement negotiations were successfully concluded during the Summit.
  • The EU-India Security and Defence Partnership, the first overarching defence and security framework between the two sides, was signed.
  • The leaders condemned the terrorist attack in Pahalgam, Jammu and Kashmir on 22 April 2025 and the terror incident near Red Fort, New Delhi on 10 November 2025.
  • The EU-India Joint Comprehensive Strategic Agenda 'Towards 2030' was adopted to advance cooperation across five pillars: prosperity and sustainability, technology and innovation, security and defence, connectivity and global challenges, and enabling factors.
India and Germany Strengthen Bilateral Economic Cooperation During Chancellor Friedrich Merz's Official Visit on 12-13 January 2026 (Mid of January) ▼
  • Federal Chancellor of the Federal Republic of Germany, Friedrich Merz, paid an official visit to India from 12-13 January 2026, marking his first visit to Asia as Chancellor.
  • The visit follows the completion of 25 years of the India-Germany Strategic Partnership in 2025 and the commemoration of 75 years of diplomatic relations in 2026.
  • The 7th India-Germany Inter-Governmental Consultations (IGC) were previously held in New Delhi on 25 October 2024.
  • Prime Minister Narendra Modi and Chancellor Merz addressed the India-Germany CEOs Forum and held delegation-level talks in Ahmedabad on 12 January 2026.
  • India-Germany bilateral trade in goods and services surpassed USD 50 billion in 2024, accounting for over 25% of India's trade with the European Union (EU).
  • The Ministry of Finance (FinMin) is in discussions with the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) regarding cryptocurrency exchange regulations for the Budget 2026-27.
  • Bloomberg has decided not to include Indian bonds in its Global Aggregate Index for the current period.
  • The Bharat Coking Coal Initial Public Offering (IPO) was booked 147 times, drawing bids worth ₹1.2 trillion.
World Economic Forum (WEF) 2026 annual meeting concludes in Davos (End of January) ▼
  • The 56th annual World Economic Forum (WEF) meeting concluded in Davos on 23 January 2026.
  • U.S. President Donald Trump dominated the agenda with his claim to Greenland, prompting strong European resistance.
  • Ukrainian President Volodymyr Zelenskyy flew in for talks as a U.S.–Russia discussion on Ukraine continued; Russian Presidential envoy Kirill Dmitriev held talks at the USA House, the first Russian official to visit Davos since 2022.
  • U.S. Energy Secretary Chris Wright told a panel that global oil production needs to more than double to meet rising energy demand and criticised Europe and California for overspending on green energy.
  • Elon Musk stated the U.S. could meet all electricity needs via solar from a small area of Utah, Nevada or New Mexico but noted high tariff barriers hamper deployment.
  • Trump discussed a secret sonic weapon allegedly used in the capture of Venezuela’s Nicolas Maduro and predicted increased U.S. and European defence spending.

India and United States reach framework for first-phase bilateral trade agreement

[United States]

Key Updates:

  • India and the United States announced a framework for the first phase of a bilateral trade agreement on Saturday.
  • The framework will be converted into a legal agreement expected to be signed by mid-March.
  • India will eliminate or reduce tariffs on all US industrial goods and a wide range of American food and agricultural products including dried distillers' grains, red sorghum for animal feed, tree nuts, fresh and processed fruit, soybean oil, wine and spirits.
  • India will grant duty concessions on US goods such as walnuts, almonds, pistachios, some lentils, high-end cars and motorcycles.
  • India agreed to address long-standing barriers to trade in US medical devices and eliminate restrictive import licensing procedures for US Information and Communication Technology (ICT) goods.
  • Minimum import prices have been fixed on certain products like apples to protect interests of MSMEs and farmers.
  • India will eliminate import duties on certain US goods on the day the agreement comes into force, while duties on other items may be phased out over time.
  • India will extend duty benefits on certain American medicines for neuro, heart and diabetes, cosmetics, medical devices, X-ray valves, diagnostic reagents, pacemakers, imaging apparatus, hearing aid, and artificial joints.
  • India will allow American aircraft, semiconductor chips, and high quality machinery into its market.
  • India's exports to the US including spices, tea, coffee, copra, coconut oil, areca nut, cashew, Brazil nut, chestnut, avocado, banana, guava, mango, kiwi, papaya, pineapple, shiitake mushroom, vegetable planting material and saplings, roots and tubers such as taro, barley, canary seeds, bakery goods, cocoa and cocoa products, sesame seeds, poppy seeds, and fruit jams and pastes will attract zero reciprocal tariffs in the American market.

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United States (US) cuts reciprocal tariff on Indian goods from 25% to 18%. (Start of February) ▼
  • The United States (US) reduced the reciprocal tariff on imports from India from 25% to 18% effective immediately.
  • India agreed to cut its tariffs and non-tariff barriers on US goods to zero.
  • US President Donald Trump announced the trade deal after a phone conversation with Prime Minister Narendra Modi.
  • India committed to stop buying Russian oil and increase purchases from the United States and potentially Venezuela.
  • The White House stated the additional 25% tariff imposed over Russian oil purchases will be dropped.
  • WTI crude oil futures fell more than 4.5% to around $62.2 a barrel on Monday.
  • External Affairs Minister S. Jaishankar is visiting Washington for discussions on critical minerals.
  • Union Minister Piyush Goyal stated negotiations for closing the trade deal are progressing quickly.
India-New Zealand FTA Finalised with Dairy Sector Excluded (End of December) ▼
  • India and New Zealand have concluded negotiations for a Free Trade Agreement (FTA), likely to be signed within three months and implemented next year.
  • India will not open up its dairy sector under any free trade agreement, Commerce and Industry Minister Piyush Goyal asserted.
  • India has sectors from duty cuts include dairy products, most animal products, vegetables & pulses, sugar, fats & oils, copper, aluminium, arms & ammunition, and gems & jewellery.
  • India has provided limited market access for select agri-products using Tariff Rate Quotas (TRQ) and Minimum Import Price (MIP) safeguards.
  • The India-New Zealand FTA offers India duty-free access to New Zealand’s market, while New Zealand will benefit from reduced tariffs on 95% of its exports.
  • Discussions for the long-pending India-US trade deal are in an 'advanced stage,' though access to agriculture remains a point of contention.
  • The FTA reflects calibrated trade liberalisation, balancing trade growth with domestic sector protection.
  • New Zealand’s Foreign Affairs Minister Winston Peters termed the deal a 'low-quality' deal and announced that his New Zealand First party would oppose it in Parliament.
Ministry of Commerce and Industry (MCI) secures 100% duty-free access for Indian exports to Australia (End of December) ▼
  • Australia will provide duty-free access to 100% of its tariff lines for Indian exports starting Jan 1, 2026, under the India-Australia Economic Cooperation and Trade Agreement (ECTA).
  • India's exports to Australia grew by 8% in 2024-25, with significant gains in manufacturing, chemicals, textiles, plastics, pharmaceuticals, and petroleum products.
  • Gems and jewellery exports to Australia recorded a growth of 16% during the April-Nov 2025 period.
  • Agri-exports witnessed broad-based growth in categories including fruits, vegetables, marine products, spices, and coffee.
  • The ECTA, which came into force on Dec 29, 2022, serves as the foundation for ongoing negotiations for a Comprehensive Economic Cooperation Agreement (CECA).
United States (US) President Donald Trump Threatens New Tariffs on Indian Rice Imports (Start of December) ▼
  • United States (US) President Donald Trump hinted at potential new tariffs on Indian rice imports, citing 'dumping' as damaging domestic growers.
  • Indian rice exporters on Dalal Street faced a significant downturn following the US President's remarks.
  • Kohinoor Foods stock fell 9.9% to Rs 24.41, reaching its intraday and 52-week low on the BSE.
  • LT Foods stock dropped 6.5% to Rs 368, while KRBL stock retreated 2.7% to Rs 370.05.
  • The US had previously imposed a 50% tariff on Indian goods in August, consisting of an already levied 25% tariff and an additional 25% duties.
  • The US alleged the additional duties were due to India's continued purchase of Russian oil.
  • US President Donald Trump also hinted that Canadian fertiliser imports could face higher duties, with earlier proposals suggesting a rise of up to 10%, potentially reaching 45%.

India and Malaysia Strengthen Comprehensive Strategic Partnership During PM Modi's Visit on 7 February 2026

[Malaysia]

Key Updates:

  • Prime Minister (PM) Narendra Modi departed for a two-day visit to Malaysia on 7 February 2026 at the invitation of Malaysian PM Anwar Ibrahim.
  • This visit is the first since bilateral relations were elevated to a Comprehensive Strategic Partnership in August 2024 and marks the third visit by PM Modi to the country.
  • The Ministry of External Affairs (MEA) identified defence collaboration opportunities including the sale of Dornier aircraft and the maintenance of Scorpene submarines and SU-30 aircraft.
  • Malaysia is home to a 2.9 million-strong Indian diaspora, the third-largest globally, and a 2.75 million-strong Persons of Indian Origin (PIO) community.
  • Malaysia serves as a key pillar in India’s Act East Policy and is a significant partner in the Association of Southeast Asian Nations (ASEAN) and the Indo-Pacific region.
  • PM Modi previously met PM Ibrahim at the Brazil, Russia, India, China, and South Africa (BRICS) Summit in Rio De Janeiro and attended the 22nd ASEAN-India Summit virtually in October 2025.
  • India and the United States (US) announced an interim trade agreement framework to support the Make in India initiative and the goal of building a Viksit Bharat.
  • The trade framework is designed to benefit farmers, entrepreneurs, Micro, Small and Medium Enterprises (MSMEs), StartUp innovators, and fishermen while generating employment for women and youngsters.

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India and Oman sign Joint Vision Document and four MoUs during PM Modi visit (Mid of December) ▼
  • A Joint Vision Document and Executive Programme were signed, outlining strategic cooperation, including innovation in agriculture and food industries.
  • Four Memoranda of Understanding (MoUs) were inked, covering cooperation in maritime heritage and museums, scientific research and innovation, skills development, agriculture, and trade cooperation between Oman’s Chamber of Commerce and India’s Confederation of Indian Industry (CII).
  • Both countries are on track to finalize a Comprehensive Economic Partnership Agreement (CEPA), a trade pact expected to boost bilateral commerce, investment and strategic economic alignment across sectors such as energy, logistics, and manufacturing.
India and Jordan conclude landmark bilateral visit on December 16, 2025 (Mid of December) ▼
  • Prime Minister Narendra Modi concluded a landmark two-day visit to Jordan, marking 75 years of diplomatic relations between the two countries.
  • The current full bilateral visit is taking place after an interval of 37 years, following a previous transit visit in February 2018.
  • India and Jordan maintain strong economic and strategic ties, with bilateral trade nearing USD 2.9 billion.
  • Jordan is a key supplier of phosphates and potash to India, with cooperation also spanning fertilisers, pharmaceuticals, IT, healthcare, defence and renewable energy.
  • The relationship spans political, economic and defence cooperation, as well as strong people-to-people ties, according to the Ministry of External Affairs (MEA).
  • The visit to Jordan was the first leg of a four-day, three-nation tour that includes subsequent travel to Ethiopia and Oman.
India's Prime Minister Modi begins three-nation tour to Jordan, Ethiopia, and Oman for Diplomacy and Trade on 15 December 2025 (Mid of December) ▼
  • Prime Minister Narendra Modi has started a three-nation visit to Jordan, Ethiopia, and Oman.
  • The tour focuses on diplomacy, trade expansion, and partnerships with the Global South.
  • His first stop is Jordan, where he will meet King Abdullah II and other leaders to celebrate 75 years of diplomatic relations.
  • Next, he will visit Ethiopia for the first time, addressing Parliament and meeting Prime Minister Abiy Ahmed.
  • The tour will conclude in Oman on December 17 and 18.
Sultanate of Oman confers Order of Oman on Prime Minister Narendra Modi (Mid of December) ▼
  • Prime Minister Narendra Modi was conferred with the Order of Oman, the Sultanate's uniquely distinct civilian honour, by Sultan Haitham bin Tarik for his contributions to strengthening bilateral ties.
  • Prime Minister Modi received the award during his ongoing two-day visit to Oman, the final leg of his three-nation tour that included Jordan and Ethiopia.
  • His visit to Muscat marks the 70th anniversary of diplomatic relations between India and Oman, with both sides focusing on deepening strategic partnership in trade, investment, energy, defence and culture.

National Statistics Office (NSO) launches Model Context Protocol (MCP) server for AI data integration

[National Statistics Office (NSO)]

Key Updates:

  • The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) launched a beta version of the Model Context Protocol (MCP) server on February 6.
  • The MCP server is integrated with the eSankhyiki portal, which serves as the national repository for official statistics.
  • The technology allows users to query datasets in real time without downloading large files, enabling direct integration of official statistics into artificial intelligence tools and analytics platforms.
  • The beta release includes seven major statistical products: Periodic Labour Force Survey (PLFS), Consumer Price Index (CPI), Annual Survey of Industries (ASI), Index of Industrial Production (IIP), National Accounts Statistics (NAS), Wholesale Price Index (WPI), and Environmental Statistics.
  • The launch precedes the AI Impact Summit scheduled to be held from February 15 to February 20, 2026.

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MahaCrimeOS AI Platform Launched to Fast-Track Cybercrime Investigations (Mid of December) ▼
  • Maharashtra government and Microsoft launched MahaCrimeOS AI, the country’s first AI-powered platform to fast-track cybercrime investigations.
  • The platform is currently live in 23 police stations in Nagpur and is proposed to be rolled out to all 1,100 police stations across Maharashtra.
  • Developed by CyberEye, MARVEL (Maharashtra government’s Special Purpose Vehicle), and Microsoft India Development Center, it is built on Microsoft Azure OpenAI Service and Microsoft Foundry.
Coforge launches EvolveOps.AI for autonomous IT operations (End of December) ▼
  • Coforge has introduced EvolveOps.AI, an agentic AI platform built to push enterprises into AI-first operations across hybrid cloud.
  • The platform uses a mix of fine-tuned Small Language Models (SLMs) and deterministic models for reliability and cost control.
  • Coforge has built 28 agent personas-covering SRE, Infrastructure, Cloud, Network, Kubernetes, Command Center, Service Management, and FinOps-so the system can analyze, reason, decide, and act across real IT scenarios.
  • Reported outcomes from early adopters include a 25% reduction in system downtime and a 40% reduction in IT operational expenses.
  • Mission Zero-Zero Disruption, Zero Touch, Zero Friction-anchors Coforge's approach.
IndiaAI Mission and UPDESCO ink MoU to build Uttar Pradesh AI ecosystem (Mid of January) ▼
  • The MoU was exchanged during the Uttar Pradesh AI and Health Innovation Conference between Anurag Yadav, Principal Secretary, IT and Electronics Department, Uttar Pradesh, and Abhishek Singh, Chief Executive Officer of the IndiaAI Mission.
  • UPDESCO will act as the state nodal agency for implementation.
  • A total of 65 Data and AI Labs are proposed to be set up across the state under the IndiaAI Mission.
  • At present, two such labs are operational at National Institute of Electronics and Information Technology (NIELIT) centres in Lucknow and Gorakhpur, while another has been established in Pilibhit with industry support.
  • The state government has already approved the establishment of 49 additional Data and AI Labs, with implementation currently underway.
  • The labs will be equipped with modern infrastructure and advanced technical resources to support hands-on AI training.
Indian Army inks MoU with Indian Institute of Science (IISc)-Bangalore to build indigenous AI for digital battlefield (End of January) ▼
  • Indian Army signed an MoU with Indian Institute of Science (IISc)-Bangalore to develop a fully indigenous Artificial Intelligence (AI) system for military use.
  • The collaboration targets AI-driven real-time data processing, predictive analytics and decision-support tools tailored to modern warfare requirements.
  • IISc-Bangalore will contribute expertise in AI, machine learning, neural networks, natural language processing and autonomous systems.
  • The project aligns with Defence Acquisition Procedure 2020 and the national Atmanirbhar Bharat push for self-reliant defence R&D.
  • Industry partners such as Tata Advanced Systems, Bharat Electronics Limited (BEL) and iDEX scheme startups are expected to support hardware and software integration.
  • The initiative aims to reduce dependence on foreign vendors and strengthen India’s position against adversaries’ AI-integrated warfare systems.
  • Funding may draw from the Army’s Technology Development Fund and the newly announced INR 1 lakh crore Defence R&D corpus.
  • Ethical safeguards include robust data governance, bias mitigation and cybersecurity protocols to protect sensitive military datasets.
  • Successful prototypes could undergo trials at the Army’s Centre for Artificial Intelligence and Robotics (CAIR) before induction within 3-5 years.
  • The partnership may extend AI interoperability to the Indian Navy and Indian Air Force, embedding AI as a tri-service force multiplier.

Cancer cells reprogram neutrophils to produce CCL3, aiding tumour growth: University of Geneva-led study

[University of Geneva, Switzerland]

Key Updates:

  • Cancer cells reprogram neutrophils to produce the chemokine CCL3, which promotes tumour growth.
  • The study was conducted by researchers at the University of Geneva and the Ludwig Institute for Cancer Research in Switzerland.
  • Neutrophils, usually defenders against infection, lose their pro-tumour action when CCL3 is absent.
  • The findings were published in the Cancer Cell journal.

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Banaras Hindu University (BHU) researchers unveil first molecular classification of oral cancer for precision therapy (End of December) ▼
  • Banaras Hindu University (BHU) researchers analysed over 8,000 scientific articles and genomic data to create the world’s first systematic molecular classification of oral cancer.
  • The study identifies five distinct biological groups: Cell-Cycle Dysregulation (CCD), Immune-Mediated (IM), Xenobiotic Metabolism-Associated (XMA), Inflammatory Pathway Activation (IPA), and Viral Protein Activation (VPA).
  • Each group is directly linked to specific actionable genes and pathways, guiding clinicians to select targeted therapies such as HER2 inhibitors, PARP inhibitors, or specific immunotherapies.
  • Unlike Western classifications, this model emphasises pathways influenced by tobacco and betel quid use (XMA and IPA), making it highly relevant for the Indian population.
  • The classification clarifies that HPV is a minor driver in most Indian oral cancers, preventing the misapplication of Western treatment protocols.
Google DeepMind unveils AlphaGenome AI to predict DNA mutations and disease risk (End of January) ▼
  • Google DeepMind’s AlphaGenome AI model reads up to one million DNA letters with single-letter precision to predict how genetic changes cause diseases.
  • AlphaGenome targets the 98 percent of non-coding DNA, formerly called junk DNA, that regulates gene activity and influences RNA splicing.
  • In a leukaemia case study, the model compared normal and mutated DNA sequences and predicted increased activity of nearby genes linked to the cancer.
  • The model is freely available to scientists for non-commercial research but is not intended for clinical use.
  • Robert Goldstone, head of genomics at the Francis Crick Institute, described AlphaGenome as a breakthrough that turns the genome into a decipherable language for discovery.
  • Ben Lehner of the Wellcome Sanger Institute warned that most existing biological datasets are too small and poorly standardised for optimal AI training.
World Cancer Day 2026 observed on February 4 with theme 'United by Unique' (Start of February) ▼
  • World Cancer Day is observed on February 4 every year.
  • The theme for World Cancer Day 2026 is 'United by Unique'.
  • The International Agency for Research on Cancer (IARC) reported an estimated 20 million new cancer cases and 9.7 million cancer-related deaths globally in 2022.
  • India reported over 15 lakh cancer cases in 2024, up from 13.5 lakh in 2019.
  • Cancer cases in India rose from 13.9 lakh in 2020 to 14.2 lakh in 2021, 14.6 lakh in 2022, and 14.9 lakh in 2023.
Abu Dhabi administers UAE’s first CRISPR gene therapy CASGEVY for inherited blood disorders (Start of January) ▼
  • Abu Dhabi marked the first administration of a gene-therapy injection for inherited blood disorders in the UAE using CASGEVY.
  • CASGEVY employs CRISPR-Cas9 gene editing to correct faulty DNA causing sickle cell disease and beta thalassemia.
  • The therapy was given at Yas Clinic – Khalifa City in partnership with the Abu Dhabi Stem Cells Center (ADSCC) and Vertex Pharmaceuticals under the Department of Health – Abu Dhabi (DoH).
  • The process involves extracting the patient’s stem cells, editing them with CRISPR-Cas9, and reinfusing the corrected cells to produce healthy blood cells.
  • The initial phase restricts treatment to Centers of Excellence like Sheikh Shakhbout Medical City (SSMC) before wider hospital rollout.

South Africa releases first locally produced foot-and-mouth disease vaccine by Agricultural Research Council (ARC)

[South Africa, Agricultural Research Council (ARC)]

Key Updates:

  • Agricultural Research Council (ARC) released the first batch of South Africa’s locally produced foot-and-mouth disease (FMD) vaccine developed at ARC-Onderstepoort.
  • The initial batch comprises 12 900 multi-strain doses produced by the ARC Onderstepoort Veterinary Institute (ARC OVI) Transboundary Animal Diseases Campus.
  • The vaccine is registered as a stock remedy under the Fertilizers, Farm Feeds, Seeds and Remedies Act (No. 36 of 1947) and meets required quality, safety and efficacy standards.
  • Local production enables faster outbreak response, closer strain matching to regional circulating viruses, and improved supply control.
  • Since 2019 the outbreak has spread to eight of South Africa’s nine provinces, severely disrupting the commercial livestock value chain.
  • Milk South Africa (Milk SA) welcomed the 12 900 doses but warned volumes fall far short of national requirements and urged rapid scale-up of both domestic and imported vaccines.

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Gavi and UNICEF slash R21/Matrix-M malaria vaccine price to $2.99 per dose (End of November) ▼
  • The R21/Matrix-M malaria vaccine price will fall to $2.99 per dose within a year.
  • The price cut is expected to save up to $90 million and allow more than 30 million extra doses over the next five years.
  • The agreement was enabled by an advance payment through the International Finance Facility for Immunisation (IFFIm).
  • More than 40 million malaria vaccine doses have already been delivered through Gavi-supported programmes.
  • Both WHO-approved malaria vaccines, R21/Matrix-M and RTS,S, reduce malaria cases by more than half in the first year after vaccination.
Abu Dhabi first globally to deliver ITVISMA gene therapy for spinal muscular atrophy (End of December) ▼
  • ITVISMA (onasemnogene abeparvovec) is a one-time gene therapy targeting the underlying genetic cause of spinal muscular atrophy in patients aged 2 years and older with a confirmed SMN1 gene mutation.
  • The therapy replaces the missing SMN1 gene to improve motor function and reduce the need for continuous treatments required by other therapies.
  • Administered at Sheikh Khalifa Medical City (SKMC), part of SEHA, a subsidiary of PureHealth, under the supervision of the Department of Health – Abu Dhabi (DoH).
  • Developed by Novartis and received accelerated UAE approval on 25th November 2025, positioning the UAE among the first countries globally after the USA to endorse this treatment.
Cabinet Renews BIRAC-CEPI Research Partnerships, Expands Scope to Monoclonal Antibodies (Start of December) ▼
  • The Union Cabinet has renewed the Biotechnology Industry Research Assistance Council (BIRAC) Engagement Strategy with the Coalition for Epidemic Preparedness Innovations (CEPI).
  • The Biotechnology Industry Research Assistance Council (BIRAC), a Public Sector Undertaking (PSU) of the Department of Biotechnology (DBT), had partnered with CEPI in October 2019, to advance vaccine development for diseases of epidemic potential.
  • The partnership recorded progress in early-stage development of vaccine candidates for Chikungunya, Coronavirus and Monkey pox.
  • Under the strategy, BIRAC’s bioassay laboratory and experimental animal facility supported the development of several Indian and global vaccine candidates at different stages, from pre-clinical to phase-3 efficacy trials.
  • Training programmes on vaccine development and clinical trials have been organized, contributing to capacity building in the domain.
  • The latest renewal further broadens the strategy scope to the development of allied technologies, particularly monoclonal antibodies.
  • Monoclonal antibodies (mAbs) are lab-made proteins that mimic the body's natural immune response to target specific cells or antigens.
  • CEPI is an innovative partnership between public, private, philanthropic and civil organisations which supports the development of vaccines and associated technologies against emerging infectious diseases.
  • Several national governments, the European Commission, and philanthropic organisations, such as Gates Foundation and Welcome Trust, are involved with CEPI.
World Neglected Tropical Diseases Day observed on 30 January (End of January) ▼
  • World Health Organisation (WHO) designated 30 January as World Neglected Tropical Diseases Day at the 74th World Health Assembly on 31 May 2021.
  • The date commemorates the adoption of the London Declaration on NTDs on 30 January 2012.
  • WHO’s 2030 targets include 90% reduction in people needing treatment for NTDs and 75% reduction in years of life lost due to NTDs.
  • By 1 January 2026, 58 countries had eradicated at least one NTD.
  • Global financial aid for NTDs fell by 41% between 2018 and 2023.
  • USAID’s dismantling and the United States withdrawal from WHO have suspended 47 treatment campaigns affecting 143 million people worldwide.
  • ANRS MIE, responsible for monitoring emerging infectious diseases, prioritises dengue and chikungunya under its Emergence epidemic response system.
  • ANRS MIE funds projects including LSDengue, ARBOGEN, DENGAGE, DENGAFRICA, and LEISHNEW targeting dengue, chikungunya, and leishmaniasis.
  • ANRS MIE co-directs Global Health EDCTP3 and serves as one of nine international coordination centres for the STRIVE network linking over 300 clinical trials in 40 countries.

Jharkhand women defeat Rajasthan to win Para Throwball National Federation Cup 2026

[Jharkhand, Rajasthan]

Key Updates:

  • Jharkhand’s women’s team clinched the gold medal in Women’s Category at the Para Throwball National Federation Cup 2026 with a 21-17 victory over hosts Rajasthan in the final at Jhunjhunu.
  • The tournament was held from February 3 to 5, 2026.
  • In the men’s category, Andhra Pradesh lifted the title, Telangana finished runners-up, Haryana claimed the bronze medal, and Jharkhand placed fourth.

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India secures record 102 medals at Asian Youth Para Games 2025 (End of December) ▼
  • India achieved its most successful campaign at the Asian Youth Para Games 2025 in Dubai, United Arab Emirates (UAE), winning 102 medals.
  • The medal tally for the Paralympic Committee of India (PCI) included 36 gold, 28 silver, and 38 bronze medals.
  • A 99-member Indian contingent, comprising 61 men and 38 women, competed in eight sports during the fifth edition of the Games held from December 10 to 13.
  • Athletics was the most successful discipline for India, accounting for 48 medals, including 17 gold, 13 silver, and 18 bronze.
  • Swimmer Abdul Quadir Indori opened India's medal account with a gold in the 50m backstroke and a bronze in the 50m butterfly multi-class events.
  • The 2025 performance surpassed India's previous records of 44 medals at Dubai 2017 and 37 medals at Manama 2021.
  • Around 1500 athletes from 35 national federations competed across 11 disciplines at the continental meet.
  • Badminton and swimming also recorded double-digit medal hauls for the Indian team.
Indian women boxers win four gold medals at World Boxing Cup Finals 2025 (End of November) ▼
  • Indian women boxers achieved a remarkable feat at the World Boxing Cup Finals 2025.
  • They secured four gold medals in Greater Noida.
  • Minakshi Hooda, Preeti, Arundhati Choudhary, and Nupur emerged victorious in their respective categories.
  • Minakshi Hooda set the tone for the hosts, producing a dominant 5-0 win over Fozilova Farzona in the women’s 48kg final to open India’s tally.
  • Preeti Pawar followed soon after with another clean sweep, outclassing Italy’s Sirine Charaabi 5-0 to claim gold in the 54kg division.
  • Arundhati Choudhary then made it three golds for India by defeating Uzbekistan’s Zokirova Aziza 5-0 in the 70kg final.
  • Nupur Sheoran capped India’s session with a fourth gold, also winning 5-0, as she overpowered Uzbekistan’s Sotimboeva Oltinoy in the 80+kg category.
  • India also secured a silver medal, narrowly missing a fifth gold.
  • Jadumani fell short against Uzbekistan’s Asilbek Jalilov in the 50kg contest and settled for silver.
  • Earlier in the tournament, 15 Indian boxers had advanced to the finals, which was the highest representation by any country in this eight-only event.
Uttarakhand CM Dhami hails past decade as golden chapter for Indian sports (End of January) ▼
  • CM Pushkar Singh Dhami termed the past decade a 'golden chapter' for Indian sports while inaugurating the National Paralympic Powerlifting Championship virtually.
  • He highlighted India's 29 medals at the Paris Paralympics and the Women's Blind Cricket team's World Cup victory as landmark achievements.
  • Dhami credited Prime Minister Modi's policies and increased sports budget for the transformation and noted Uttarakhand's progress toward becoming a national 'Land of Sports'.
S G Roshini wins gold at 29th All India National Martial Arts’ Championship 2026 (End of January) ▼
  • S G Roshini, a Class IX student from Vedavalli Vidyalaya, NPS Senior Secondary School in Ranipet (TN), won the gold medal at the 29th All India National Martial Arts’ Championship 2026.
  • The championship was held in Goa on January 25.
  • The event selected promising talent in traditional Indian martial arts including silambam.

RSS launches Kashmir to Kanyakumari 'Dhwaj Yatra'

Key Updates:

  • Rashtriya Swayamsevak Sangh (RSS) started the 'Dhwaj Yatra' flag rally from Kashmir to Kanyakumari.
  • The yatra began symbolically at Lal Chowk and culminated at the Tourist Reception Centre in Kashmir.
  • Participant Veer Kapoor stated the yatra aims to clear misgivings that RSS is against some people.
  • A movie titled 'Shatak' has been made to celebrate 100 years of RSS and is scheduled for release on February 19.

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Beating Retreat Ceremony 2026 held on January 29 (End of January) ▼
  • The Beating Retreat ceremony was held at Vijay Chowk in New Delhi on January 29, 2026.
  • The ceremony marks the formal conclusion of the Republic Day celebrations.
  • The event featured performances by the bands of the Indian Army, Indian Navy, and Indian Air Force.
  • Defence Minister Rajnath Singh confirmed that the ceremony commenced at 5:00 pm.
  • Prime Minister (PM) Narendra Modi stated that the event showcases the discipline, traditions, and valour of the armed forces.
Abhishek Sharma inaugurates Radio Sangam 88.8 FM at Keri village (Start of January) ▼
  • Abhishek Sharma, Deputy Commissioner of Rajouri, inaugurated Radio Sangam (88.8 FM) in Keri village.
  • Radio Sangam is the first community radio station established by the Indian Army along the Line of Control in Jammu & Kashmir.
  • The station aims to counter misinformation, promote hyperlocal content, and bridge the digital divide in forward areas.
Akshita Dhankar unfurled national flag with President Droupadi Murmu at 77th Republic Day parade. (End of January) ▼
  • Flight Lieutenant Akshita Dhankar of the Indian Air Force (IAF) shared the flag-unfurling honour with President Droupadi Murmu on 26 January 2026.
  • She was commissioned as Flying Officer in the Administration branch on 17 June 2023 under the 211 Short Service Commission (Women) Ground Duty Course with service number 38704 ADM.
  • Dhankar was promoted to Flight Lieutenant and oversees administrative operations including personnel management and logistics.
  • She hails from Kansi village in Haryana and joined the National Cadet Corps (NCC) while studying at Sri Guru Tegh Bahadur Khalsa College, Delhi University, rising to Cadet Sergeant Major.
  • She cleared the Air Force Common Admission Test (AFCAT) and received recommendation from the Air Force Selection Board (AFSB) in Mysore.
Republic Day Parade 2026 winners announced for Best Tableaux and Popular Choice (End of January) ▼
  • Indian Navy was adjudged Best Marching Contingent among the three Services.
  • Delhi Police was adjudged Best Marching Contingent among CAPFs/other auxiliary forces.
  • Maharashtra's tableau ‘Ganeshotsav: A Symbol of Aatmanirbharta’ was adjudged Best Tableau among States/UTs.
  • Jammu & Kashmir's tableau ‘Handicrafts and Folk Dances of Jammu & Kashmir’ was adjudged Best Tableau among States/UTs.
  • Kerala's tableau ‘Water Metro & 100% Digital Literacy: Aatmanirbhar Kerala for Aatmanirbhar Bharat’ was adjudged Best Tableau among States/UTs.
  • Ministry of Culture’s tableau ‘Vande Mataram – The Soul Cry of a Nation’ was adjudged Best Tableau among Central Ministries/Departments.
  • Central Public Works Department (CPWD) tableau ‘Vande Mataram – Commemoration of 150 Years’ received a Special Prize.
  • ‘Vande Mataram: The Eternal Resonance of India’ Dance Group received a Special Prize.
  • Assam Regiment was adjudged Best Marching Contingent among the three Services in the Popular Choice category.
  • CRPF was adjudged Best Marching Contingent among CAPFs/other auxiliary forces in the Popular Choice category.
  • Gujarat's tableau ‘Mantra of Swadeshi – Self-Reliance – Freedom: Vande Mataram’ topped the Popular Choice category on MyGov portal.
  • Uttar Pradesh's tableau ‘Culture of Bundelkhand’ ranked among the top three in the Popular Choice category on MyGov portal.
  • Rajasthan's tableau ‘Golden Touch of the Desert: Bikaner Gold Art (Usta Art)’ ranked among the top three in the Popular Choice category on MyGov portal.
  • Department of School Education & Literacy’s tableau ‘National Education Policy 2020: Rocketing Indian School Education on the Path to Viksit Bharat’ was adjudged Best Tableau among Central Ministries/Departments in the Popular Choice category.