Reserve Bank of India (RBI) injects $5 billion USD/INR swap and Rs 1 lakh crore OMO to ease liquidity.
[Reserve Bank of India (RBI)]
Key Updates:
- RBI combines a three-year USD/INR buy-sell swap of $5 billion with open market purchases of government securities worth Rs 1 lakh crore to inject durable liquidity.
- The measures accompany a 25 basis point repo rate cut to 5.25%, taking the cumulative reduction since February to 125 bps.
- The rupee has fallen 5% this year, becoming Asia’s worst performer and breaching the 90-per-dollar mark.
- Foreign portfolio investors have withdrawn more than Rs 1.5 lakh crore, while foreign direct investment and overseas borrowing remain subdued.
- Currency analysts expect USD/INR to trade within the 89.40–90.95 range.
Similar / Past Coverage
- Reserve Bank of India (RBI) Governor Sanjay Malhotra announced a 25 basis points repo rate cut.
- RBI will conduct Open Market Operation (OMO) purchases of government securities worth Rs 1 trillion.
- RBI announced a three-year dollar-rupee buy/sell swap of $5 billion to inject durable liquidity into the financial system.
- The dollar-rupee sell swap is a foreign exchange transaction where banks sell US Dollars to RBI in return for Indian Rupee.
- The combined measures aim to ensure adequate, durable liquidity and facilitate monetary transmission.
- India’s foreign exchange reserves fell by $4.472 billion to $688.104 billion in the week ended November 21.
- Foreign currency assets declined by $1.69 billion to $560.6 billion.
- Gold reserves decreased by $2.675 billion to $104.182 billion.
- Special Drawing Rights dropped $84 million to $18.566 billion.
- India’s reserve position with the IMF fell $23 million to $4.757 billion.
- 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.
- India’s foreign exchange reserves increased by USD 5.543 billion for the week ended 14 November.
- The total foreign exchange reserves reached USD 692.576 billion.
- This rise followed a decline of USD 2.699 billion in the previous reporting week, when reserves had slipped to USD 687.034 billion.
- The surge was largely driven by gold holdings, which rose by USD 5.327 billion, taking the total to USD 106.857 billion.
- Foreign currency assets (FCAs) saw a modest rise of USD 152 million, bringing the total to USD 562.29 billion.
- Special Drawing Rights (SDRs) increased by USD 56 million to USD 18.65 billion.
- The reserve position in the IMF was higher by USD 8 million, reaching USD 4.779 billion.
Reserve Bank of India (RBI) permits residents and non-residents to undertake rupee IRD transactions
[Reserve Bank of India (RBI)]
Key Updates:
- Residents and non-residents are permitted to undertake transactions in rupee interest-rate derivatives (IRD), according to master directions released by the Reserve Bank of India (RBI).
- Non-residents can enter these trades through their central treasury or group entities if the market maker is authorized to transact on their behalf.
- Market makers include scheduled banks, standalone primary dealers, upper-layer non-banking financial companies (NBFCs), and specified development or specialized banks.
- Market makers must classify participants as retail or non-retail users.
- Non-retail users include NBFCs (other than market makers) and other institutional entities.
- The combined Price Value of a Basis Point (PVBP) of all outstanding IRD trades by non-residents may not exceed ₹1,000 crore.
- After reaching the ₹1,000 crore PVBP limit, fresh positions for non-residents can only be taken for hedging purposes.
- The rules apply to IRD transactions in both the over-the-counter market and on recognized stock exchanges.
- Exchanges are permitted to introduce any IRD product after approval from the RBI.
- Floating rates or indices used in exchange-traded products must be benchmarks published by an authorized financial benchmark administrator.
- Market makers must report global IRD transactions by their offshore-related parties to the central trade repository, operated by Clearing Corporation of India.
- Exchanges offering IRD products must submit reports and documentation to the RBI or designated agencies in specified formats.
- Exchanges must ensure that users are informed of the risks associated with IRD products before they enter the market.
- Foreign portfolio investors and other non-resident investors are not allowed to hold net long positions exceeding ₹5,000 crore across all interest-rate futures.
- Gross short positions for non-residents cannot exceed consolidated long positions in government securities and futures.
- Non-resident IRD transactions must be routed through rupee accounts in India or through vostro accounts for settlement.
- Foreign currency-settled IRD payments may be made through standard banking channels.
Similar / Past Coverage
- Airpay Payment Services has secured approval from the Reserve Bank of India to operate as a cross-border payment aggregator.
- The company is now licensed to operate as a payment aggregator across online, physical and cross-border categories.
- Airpay projects a 30-40 per cent rise in processing volumes over the next 6-12 months.
- The company anticipates 20 per cent-plus revenue contribution from cross-border flows and onboarding over 50,000 merchants in the same period.
- All official customer communication must be issued in Hindi, English and the relevant regional language.
- Branches must display signage, instructions and grievance details in the local language.
- Customer service booklets, passbooks, account opening forms, pay-in slips and complaint procedures must be available in regional languages.
- Digital platforms including mobile apps, websites and internet banking portals must provide regional-language support.
- Call centres must offer customer assistance in local languages.
- Public Sector Banks must recruit Local Bank Officers to deliver regionally fluent service.
- Customer Service Associates must clear a Local Language Proficiency Test before joining branches.
- The retail CBDC pilot has processed more than 120 million transactions valued at over ₹28,000 crore.
- The pilot includes 17 banks and has an active user base of over 8 million.
- Retail e-rupee circulation surged 334% in Financial Year 2025 to ₹1,016.5 crore as of March 2025.
- RBI is focusing on programmability and cross-border integration for the digital rupee.
- RBI has introduced a retail sandbox enabling fintech firms to develop CBDC-based solutions.
- Cardholders earn points equivalent to 5% on online purchases and 1% on offline transactions, including CRED Scan and Pay.
- Points can be redeemed across the CRED ecosystem, including the new flights product powered by ixigo and over 8,00,000 hotels powered by Expedia, as well as 500+ merchants and 2,000+ products on the CRED store.
- The card features zero joining fees, automatic point application, and a simplified two-minute application process.
Insurance Regulatory and Development Authority of India (IRDAI) grants corporate agency licence to Sahaj Insurance Services targeting 10 crore rural policies.
[Insurance Regulatory and Development Authority of India (IRDAI)]
Key Updates:
- Sahaj Insurance Services Pvt Ltd, a subsidiary of Sahaj Retail Ltd, received a corporate agency licence from the Insurance Regulatory and Development Authority of India (IRDAI).
- The company aims to sell about 10 crore insurance policies in its first year of operation.
- Sahaj Retail Ltd operates a network of about 4.5 lakh digitally enabled rural centres serving over 70 crore people.
- The insurance portfolio includes life, health, accident, crop, livestock and micro-insurance products developed in partnership with leading insurers.
- Services will integrate government-backed insurance and social-security schemes to deepen financial inclusion.
- Sahaj is active in states such as Bihar, Uttar Pradesh, West Bengal, North East and Odisha.
Similar / Past Coverage
- Insurance Surety Bonds (ISB) issued for NHAI contracts have crossed the ₹10,000 crore-mark, reaching about ₹10,369 crore.
- Twelve insurance companies have issued around 1,600 ISBs as bid security and 207 ISBs as performance security for NHAI contracts.
- The Ministry of Finance has placed e-BG and Insurance Surety Bonds on par with Bank Guarantees for all government procurements.
- IRDAI has officially launched the Bima Sugam portal, aiming to revolutionise India's insurance landscape.
- The first phase of Bima Sugam is expected to go live by December 2025.
- As per a gazette notification dated March 20, 2024, Bima Sugam shall be a one-stop solution for all Insurance stakeholders.
- Bima Sugam is backed by the Life Insurance Council and the General Insurance Council.
- Prasun Sikdar is the MD & CEO of Bima Sugam India Federation.
- Dr Tapan Singhel is the MD & CEO of Bajaj Allianz General Insurance and Chairman of the General Insurance Council.
- 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.
- The Competition Commission of India (CCI) has approved the acquisition of certain businesses from ICICI Venture Funds Management Company Limited by ICICI Prudential Asset Management Company Limited.
- The Acquirer is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited, a wholly owned subsidiary of Prudential Plc.
- Target Businesses include managing and/or sponsoring five SEBI-registered alternative investment funds and providing non-exclusive, non-binding advice to an identified offshore investment fund.
ICICI Bank acquires 2% stake in ICICI AMC from Prudential Corporation for ₹2,140 crore.
[ICICI Bank, Prudential Corporation]
Key Updates:
- ICICI Bank executed a share purchase agreement with Prudential Corporation Holdings Ltd to purchase an additional 2% shareholding in ICICI Prudential Asset Management Company Ltd.
- The purchase price is fixed at ₹2,140 crore for the 2% stake.
- Reserve Bank of India accorded approval for the bank to purchase up to 2% additional shareholding through its letter dated September 12, 2025.
- ICICI AMC had total assets of ₹4,827 crore as of September 30, 2025.
- ICICI AMC reported turnover of ₹2,949 crore and profit after tax of ₹1,618 crore for H1FY26.
- ICICI Bank currently holds 51.0% and Prudential Corporation Holdings Ltd holds 49.0% in ICICI AMC.
Similar / Past Coverage
- ICICI Prudential Asset Management's IPO will be entirely an offer for sale (OFS) worth ₹10,000 crore.
- Prudential Corporation Holdings will sell 1.76 crore shares in the OFS.
- ICICI Bank owns 51% of ICICI Prudential AMC; Prudential Corporation Holdings holds the remaining 49%.
- Annu Projects' IPO comprises a fresh issue of 2.2 crore shares.
- Technocraft Ventures will raise capital through a fresh issue of 95.05 lakh shares and an OFS of 23.76 lakh shares.
- Powerica's IPO includes a fresh issue of ₹700 crore and an OFS of ₹700 crore.
- Mahindra & Mahindra (M&M) offloaded its entire 3.45% stake in RBL Bank for about Rs 678 crore through a block deal.
- The floor price for M&M's sale was pegged at Rs 321 per share.
- M&M had invested Rs 417 crore in July 2023 to acquire the stake at Rs 197 per share, yielding a 63% return.
- Emirates NBD will acquire a 60% stake in RBL Bank through a preferential equity issue worth Rs 26,853 crore (around $3 billion) at Rs 280 per share.
- The bank’s board has approved the issue and allotment of 96 crore new shares to the Dubai-based banking group.
- The transaction marks the largest-ever foreign direct investment (FDI) in India’s financial services sector.
- Emirates NBD will also make a mandatory open offer to acquire up to an additional 26% stake in RBL Bank at the same price.
- Shares of RBL Bank ended Tuesday’s session at Rs 322.
- The Competition Commission of India has approved the proposed acquisition of Jaiprakash Associates Limited by PNC Infratech Limited.
- The acquisition covers a minimum 95% and maximum up to 100% of Jaiprakash Associates Limited.
- Jaiprakash Associates Limited is currently undergoing corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
- India Inc’s M&A deal value in H1 2025 stood at USD 50.5 billion, according to EY data cited in the article.
- Under the draft RBI norms, Indian banks can extend acquisition-finance ECBs only up to 10% of their Tier-1 capital; lenders are asking for this ceiling to be raised to 20%-40% of net worth.
- At the current 10% limit, domestic banks have less than USD 30 billion (about Rs 2.5 lakh crore) available for acquisition financing.
India Hosts 3rd Session of International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA) Council in Mumbai
[International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA)]
Key Updates:
- Union Minister Sarbananda Sonowal virtually inaugurated the 3rd Session of the Council of the International Association of Marine Aids to Navigation and Lighthouse Authorities (IALA) in Mumbai.
- The session is organized by the Directorate General of Lighthouses and Lightships (DGLL) under the Ministry of Ports, Shipping and Waterways (MoPSW).
- The event brings together 42 IALA Council Members, 3 AIMG Members, 11 international observers, IALA Secretariat delegates, and representatives from over 30 countries.
- India launched a Digital Ticketing Portal for Lighthouse Tourism to streamline visitor access to 75 lighthouse destinations across the country.
- All lighthouses in India are now fully solar powered, and tourism footfall at these sites has seen significant growth.
- India is a proactive member of the IALA Council, contributing to technical cooperation, training programmes, and standard-setting for safe navigation.
Similar / Past Coverage
- India will host the 20th session of the Intergovernmental Committee for the Safeguarding of the Intangible Cultural Heritage (ICH) from 8 to 13 December 2025 at the historic Red Fort in New Delhi.
- The announcement was made by Union Minister for Culture and Tourism, Shri Gajendra Singh Shekhawat, in a written reply to the Rajya Sabha.
- The session will examine new nominations for UNESCO’s Intangible Cultural Heritage Lists and review safeguarding status of inscribed elements.
- The IndiaAI Mission and the Ministry of Electronics and Information Technology (MeitY), in collaboration with the Information Technology & Communications Department, Government of Meghalaya, and IIM Shillong, organised the first Regional AI Impact Conference 2025 in Shillong.
- The conference theme was 'Artificial Intelligence for Citizen Empowerment: Smarter Governance, Better Lives'.
- Union Minister Ashwini Vaishnaw stated, 'Our mission is to democratize AI so that every citizen can access its benefits.'
- Meghalaya Chief Minister Conrad K Sangma unveiled three initiatives: the BHASHINI Hackathon for Khasi and Garo language model training; MeghDEE for co-creating digital innovation; and the DRISHTI-NE Hackathon for youth AI innovation.
- An MoU was signed between the Information Technology & Communication Department, Government of Meghalaya, and the IndiaAI Mission for establishing two Data & AI Labs in the state.
- Another MoU was signed between the same department and MATH T-Hub for setting up a Satellite Incubation Centre in Shillong.
- The event serves as a precursor to the India-AI Impact Summit 2026, scheduled in New Delhi from February 15-20, 2026.
- BIMReN is an initiative of India’s External Affairs Ministry launched in 2024
- The first biennial conference took place in Kochi from the 4th to the 6th of this month
- Pilot phase has linked 25 institutions and over 50 researchers from BIMSTEC countries
- The fifth edition of the India Internet Governance Forum (IIGF 2025) will convene on 27–28 November in New Delhi.
- The forum is organised as India's national chapter of the UN Internet Governance Forum and operates on a multistakeholder model.
- Union Minister of State for Electronics & Information Technology and Commerce and Industry, Jitin Prasada, will inaugurate the event as Chief Guest.
- The theme for IIGF 2025 is 'Advancing Internet Governance for an Inclusive and Sustainable Viksit Bharat'.
- The three sub-themes are: Inclusive Digital Future, Digital Infrastructure for Resilient and Sustainable Growth, and AI for People, Planet and Progress.
- The event will be held across two venues: India Habitat Centre on day one and India International Centre on day two.
- IIGF 2025 will feature four panel discussions and twelve workshops covering data governance, cybersecurity, AI ethics, and digital inclusion.
China and Brazil begin building joint space laboratory
[China, Brazil, United States]
Key Updates:
- China and Brazil have begun building a joint laboratory for space technologies, Chinese state-owned defence electronics firm CETC said.
- CETC’s Network Communications Research Institute signed an agreement with Brazil’s Federal University of Campina Grande and the Federal University of Paraíba to establish the China–Brazil Joint Laboratory for Radio Astronomy Technology.
- The joint laboratory will support frontier research for astronomical observation and deep-space exploration.
- The laboratory initiative comes as China and Brazil make progress on the BINGO radio telescope, designed to help study the universe’s structure and dark energy.
- The BINGO radio telescope, billed as South America’s largest radio telescope, is scheduled for completion in 2026.
Similar / Past Coverage
- The U.S. and China have agreed that the two countries should set up military-to-military channels.
- U.S. Defense Secretary Peter Hegseth met with his Chinese counterpart Dong Jun.
- The meeting between U.S. Defense Secretary Peter Hegseth and China's Minister of National Defense Admiral Dong Jun took place in Malaysia.
- The purpose of these channels is to reduce conflict and deescalate any problems that arise in the future.
- The meeting followed President Donald Trump's meeting with Chinese Chairman Xi Jinping in South Korea.
- U.S. and Chinese officials would have more meetings about setting up the channels.
- Exercise Name: Freedom Edge (trilateral air and naval drills)
- Participants: United States, South Korea, Japan
- Location: Off South Korea’s Jeju Island
- Duration: Monday to Friday (no specific dates given)
- Key Features: Enhanced ballistic-missile and air-defence scenarios; described by US Indo-Pacific Command as 'the most advanced demonstration of trilateral defence cooperation to date'
- Stated Objective: Improve allies’ ability to counter North Korean nuclear and missile threats (per South Korean Defence Ministry)
- Shenzhou-21 spacecraft docked at the forward port of Tiangong’s Tianhe core module at 3:22 p.m. Eastern (1922 UTC) Oct. 31, according to CMSEO.
- The mission carries commander Zhang Lu and crewmates Zhang Hongzhang and Wu Fei for a roughly six-month stay aboard Tiangong.
- Science agenda includes space life sciences, biotechnology, fluid physics, space medicine, materials science, combustion, and reproduction experiments with four black mice.
- Long March 2F rocket launched from Jiuquan Satellite Launch Center at 11:44 a.m. Eastern (1544 UTC).
- China is developing the Long March 10 rocket, Mengzhou crew spacecraft, Lanyue lunar lander, Wangyu lunar suit, and crew lunar rover for a crewed lunar landing before 2030.
- Event: Bilateral summit at Akasaka Palace, Tokyo, between U.S. President Donald Trump and Japanese Prime Minister Sanae Takaichi.
- Agreement signed: "to assist both countries in achieving resilience and security of critical minerals and rare earths supply chains" and "jointly identify projects of interest to address gaps in supply chains for critical minerals and rare earths, including derivative products such as permanent magnets, batteries, catalysts, and optical materials."
- Defence commitment: PM Takaichi pledged to "fast-track plans to increase defence spending to 2 percent of gross domestic product (GDP)."
- Economic package: Japan expected to offer a "$550bn deal" covering "shipbuilding and increased purchases of US soya beans, natural gas and pick-up trucks."
DST Secretary Inaugurates National Quantum Communication Hub at Indian Institute of Technology Madras (IIT Madras)
[Indian Institute of Technology Madras (IIT Madras)]
Key Updates:
- Department of Science & Technology (DST) secretary Prof Abhay Karandikar virtually inaugurated India’s National Hub for Quantum Communication at Indian Institute of Technology Madras (IIT Madras).
- The hub has been established at IIT Madras Research Park, the IITM C-DOT Samgnya Technologies Foundation, under DST's National Quantum Mission.
- This hub is one of the most well-funded among the four hubs set up under the National Quantum Mission.
- The hub aims to lead India’s initiatives in quantum secure communication technologies and national-scale testbeds and pilot deployments through collaboration with academia, industry and global partners.
- The Foundation's focus areas include Quantum Cryptography and Post-Quantum Security, Quantum Key Distribution (QKD) Networks, Quantum Memory and Repeaters besides Satellite-based Quantum Communication.
- Live demonstrations showcased India’s emerging strengths in quantum key distribution (QKD) systems, integrated testbeds and startup-led innovations.
Similar / Past Coverage
- The NITI Aayog’s Frontier Tech Hub, in partnership with International Business Machines-IBM, has released a national roadmap to transform India into one of the world’s top-three quantum economies by 2047.
- The plan aims to build home grown quantum computing hardware and software, foster at least 10 globally competitive quantum and capture a major share of the global quantum software and services market.
- It envisages applying quantum technologies across key sectors such as defence, energy, healthcare, logistics, and finance with hopes of boosting security, efficiency, and innovation nationwide.
- Ministry of Science and Technology announced four Quantum Fabrication and Central Facilities under the National Quantum Mission (NQM).
- Total outlay for the facilities is Rs 720 crore.
- Facilities to be set up at IIT-Bombay, IISc-Bengaluru, IIT-Kanpur, and IIT-Delhi.
- Facilities will support quantum sensing, quantum computing, and quantum materials development.
- Access open to NQM investigators, academia, industry, start-ups, and strategic sectors.
- The Centre for Development of Telematics (C-DOT) signed an MoU with the Andhra Pradesh government to join the Amaravati Quantum Valley (AQV) initiative.
- C-DOT will set up a Centre of Excellence focused on quantum communication and security solutions plus privacy enhancement technologies (PETs).
- The AQV project, located in Amaravati, is designed to create an integrated quantum ecosystem combining hardware manufacturing, software development, talent pool and research excellence.
- The CoE will support research and testing aligned to India’s National Quantum Mission in quantum security solutions and develop PETs to comply with MeitY’s Digital Personal Data Protection (DPDP) framework.
- It will also work on cost-effective sub-component development for quantum communication systems and establish an integrated testbed for quantum security to build a quantum-safe ecosystem nationwide.
- The plan for India’s first Quantum City or Q-city was unveiled at the Bengaluru Tech Summit 2025 by Minister for Minor Irrigation, Science and Technology NS Boseraju.
- The Q-city is proposed to be established over 6 acres in Hesarghatta.
- Under the Karnataka Quantum Mission, the government has allocated an investment of Rs 1,000 crore for the Q-city.
- The Q-city will house advanced research laboratories, a quantum hardware park, cryogenic testing facilities, quantum cloud clusters, and a deep tech startup zone, hosting end-to-end services from research to commercialisation.
- The government approved Rs 1,136 crore to establish the Quantum Supremacy Centre in Bengaluru.
- Work is underway to establish the Swiss and Karnataka Quantum Collaboration Centre.
- ISRO Chairman, Dr V Narayanan, stated that two new ISRO launchpads are on the cards — in Sriharikota and Kulasekarapattinam.
- LVM3-M6 and Bluebird Block-2 Mission are the upcoming commercial mission projects of ISRO.
- Fiber optic pressure, temperature, and level sensors and HMC and Nano technology-based sensors are major new developments in progress at ISRO.
UNEP Medium-Term Strategy 2026–2030 faces reopening as UNEA-7 opens amid funding cuts
[United Nations Environment Programme (UNEP)]
Key Updates:
- UNEP’s Medium-Term Strategy 2026–2030, which defines the organisation’s global agenda on climate, biodiversity, pollution and land degradation, may be reopened for negotiation on language and scope.
- UNEP’s regular budget allocation from New York suffered a 20% reduction, largely due to the United States halting payments to the UN and similar cuts by other contributors.
- The Environment Fund, UNEP’s primary voluntary core funding source, has dropped by 11–12% after the US withdrawal of its approximate 7% contribution and reductions from other donors.
- Of 19 draft resolutions submitted for UNEA-7, four were withdrawn before negotiations began, leaving 15 technically alive but some described as 'on life support'.
- Remaining resolutions include proposals on wildfires led by India and on glacier protection, which could gain political traction if they survive the week.
Similar / Past Coverage
- UNEP’s 2025 Adaptation Gap Report titled "Running on Empty" estimates adaptation finance needs in developing countries at "US$310 billion per year in 2035, when based on modelled costs" and up to "US$365 billion a year" based on NDC/NAP figures.
- International public adaptation finance flows to developing countries were "US$26 billion in 2023: down from US$28 billion the previous year," making needs "12-14 times as much as current flows."
- The private sector "could do more – with potential to provide around US$50 billion per year if backed by targeted policy action and blended finance solutions."
- Countries reported on "over 1,600 implemented adaptation actions, mostly on biodiversity, agriculture, water and infrastructure," indicating progress in planning and implementation.
- The report warns that "If current finance trends continue, the Glasgow Climate Pact goal of doubling international public adaptation finance from 2019 levels by 2025 will not be achieved."
- The Observer Research Foundation (ORF) and the Organisation for Economic Co-operation and Development (OECD) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and dialogue between the two institutions.
- The partnership is a five-year agreement.
- The partnership will focus on key areas such as economic diplomacy, trade and investment, climate and sustainability, digital transformation, and critical sectors like infrastructure and supply chains.
- Joint activities will include research, events, and participation in flagship platforms.
- This partnership is designed to facilitate the exchange of knowledge and expertise, bringing India's policy perspectives and experiences more directly into OECD discussions.
- India’s leading PSU NTPC signed a strategic MoU with Saudi Electricity Company (SEC) to accelerate global energy collaboration and power sector transformation.
- The MoU lays the foundation for extensive collaboration in several critical areas of the power value chain, including power plant modernization, joint R&D, and a Middle East services venture.
- A key highlight of the MoU is the planned establishment of a joint venture (JV) company between NTPC and SEC, which will focus on providing power plant services across the Middle East.
- NTPC, India’s largest power utility, has a goal to reach 130 GW of installed capacity by 2032.
- NTPC contributes to about one-fourth of India’s power requirement and is recognized as a “Maharatna” Central Public Sector Undertaking.
- Treaty name: Agreement under the United Nations Convention on the Law of the Sea on the Conservation and Sustainable Use of Marine Biological Diversity of Areas beyond National Jurisdiction (BBNJ agreement)
- Coverage: “two-thirds of the world’s ocean area that lies beyond national boundaries”
- Ratification milestone: Morocco and Sierra Leone became the 60th and 61st parties, crossing the 60-ratification threshold
- Entry into force: 17 January 2026
- Key objectives: “establishes legally binding rules to conserve and sustainably use marine biodiversity, share benefits from marine genetic resources more fairly, create protected areas, and strengthen scientific cooperation and capacity building”