Reserve Bank of India (RBI) grants Razorpay Payment Aggregator–Physical licence
[Reserve Bank of India (RBI)]
Key Updates:
- Razorpay POS received the Reserve Bank of India (RBI) Payment Aggregator–Physical (PA-P) licence to process in-store transactions.
- Razorpay now holds RBI licences PA-O, PA-P and PA-CB, the last obtained in December 2025.
- The PA-P licence allows Razorpay to aggregate offline payments for large retail chains and SMEs.
Similar Coverage
- South Indian Bank (SIB) introduces the RuPay Contactless SIB Paytag Sticker, an NFC-enabled payment instrument.
- The compact NFC sticker can be affixed to mobile phones, wallets, or cardholders.
- Customers can make tap-and-pay transactions at contactless POS terminals without carrying a physical debit card.
- No PIN is required for purchases up to ₹5,000; PIN authentication is mandatory for transactions above ₹5,000.
- SIB Paytag can be used at all contactless POS terminals.
- Online e-commerce payments are possible by viewing card details through the SIB Mirror+ app.
- Payoneer India has received in-principle approval from the Reserve Bank of India (RBI) to operate as a Payment Aggregator – Cross Border (PA-CB).
- The RBI has already fully authorised 19 entities with a PA-CB licence.
- Payoneer Global claims to support customers in more than 190 countries and territories.
- Over the trailing 12 months as of the third quarter of 2025, Payoneer Global served nearly two million active customers and processed over $80 billion in transaction volume.
- The Reserve Bank of India (RBI) has granted approval to PayG to operate as both an Offline and Cross-Border Payment Aggregator.
- PayG is now authorized to facilitate online payments, QR codes, and international transactions under RBI supervision.
- The company currently provides payment solutions to over 1,000 small business partners and 50 large companies.
- PayG has expanded its platform to offer more than 120 ways to pay since its launch in 2020.
- The new licenses enable the company to support businesses with Point of Sale (POS) terminals and cross-border export transactions.
- PayNearby receives NPCI approval to operate as a Third-Party Application Provider (TPAP) on the Unified Payments Interface (UPI).
- PayNearby launches PayNearby Saathi app for assisted UPI onboarding via retailers and Digital Naaris, targeting financial inclusion in semi-urban and rural India.
- The Saathi app supports UPI payments, account onboarding, bill payments, money transfers, and aggregates access to financial products like fixed deposits, recurring deposits, gold, mutual funds, and credit offerings.
- The application is available in multiple Indian languages, integrates Bhashini for voice-based navigation, and includes an in-app AI assistant to guide users through transactions and explain financial products.
- PayNearby operates a branchless banking and digital services network based on a B2B2C model, partnering with local retail stores to deliver financial and payment services.
- The company currently works with over 12 lakh retail partners across more than 20,000 PIN codes, facilitating assisted digital transactions for customers in both urban and non-urban areas.
Receivables Exchange of India Ltd (RXIL) declares maiden interim dividend of 21.6%
[Receivables Exchange of India Ltd (RXIL)]
Key Updates:
- Receivables Exchange of India Ltd (RXIL), promoted by SIDBI and National Stock Exchange of India (NSE) along with State Bank of India (SBI), ICICI Bank and Yes Bank, declared and paid an interim dividend of 21.6% on Rs 10 face-value shares.
- RXIL is the first Trade Receivables Discounting System (TReDS) platform in India to return capital to stakeholders.
- RXIL turned profitable in 2023, wiped off accumulated losses in FY24 and reported net profit of about Rs 52 crore in FY25.
- RXIL expects net profit of Rs 72 crore in FY26.
- RXIL’s throughput scaled from ₹223 crore in FY18 to ₹80,457 crore in FY25.
- RXIL facilitates monthly receivables financing transaction volumes of around ₹12,000 crore.
- Since 2016, RXIL has enabled financing of over ₹2.6 lakh crore across more than one crore invoices, supporting over 57,000 MSMEs.
Similar Coverage
- Indian Railway Finance Corporation (IRFC) provided a Rs 9,821 crore loan to the Dedicated Freight Corridor Corporation of India Ltd (DFCCIL).
- The rupee-denominated term loan is intended to refinance foreign currency debt taken from the World Bank for the Eastern Dedicated Freight Corridor project.
- The refinancing fully covers the existing World Bank loans, shifting the debt to local funding solutions to reduce exchange rate volatility.
- The agreement was signed by Rahul Kapoor, Director (Finance) of DFCCIL, and Deepa Kotnis, Executive Director (Finance) of IRFC.
- The loan execution took place at the Railway Board in the presence of Satish Kumar, Chairman & CEO of the Railway Board.
- NHAI-sponsored Raajmarg Infra Investment Trust (RIIT) has received approval from the Securities and Exchange Board of India (SEBI) as an Infrastructure Investment Trust (InvIT).
- The Public InvIT aims to unlock the monetisation potential of the National Highway assets while creating a high-quality, long-term investment instrument primarily targeting retail and domestic investors.
- NHAI had incorporated Raajmarg Infra Investment Managers Pvt Ltd (RIIMPL) as the Investment Manager for RIIT.
- RIIMPL has been established as a collaborative venture with equity participation from State Bank of India, Punjab National Bank, NaBFID, Axis Bank, Bajaj Finserv Ventures Ltd., HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, and Yes Bank.
- NRVVMK Rajendra Kumar, Member (Finance), NHAI, will be the Managing Director and CEO (Additional Charge) of the investment manager company.
- Name: Research, Development and Innovation (RDI) Fund with corpus of Rs 1 lakh crore
- Implementing structure: Two-tier model—special purpose fund under Anusandhan National Research Foundation (ANRF) managed by Department of Science and Technology
- Fund deployment: Capital routed through second-level fund managers (AIFs, DFIs, NBFCs) guided by independent investment committees
- Rediff.com India has received final approval from the National Payments Corporation of India (NPCI) for its Third-Party Application Provider (TPAP) license.
- RediffPay positions itself as India’s first UPI app focused on financial wellness.
- The app will support Credit Line on UPI, allowing users to make merchant payments up to ₹1 lakh per day and withdraw up to ₹10,000 in cash via pre-approved credit lines.
- Axis Bank will serve as the Payment System Provider (PSP) bank for the platform.
- Infibeam Avenues reported processing transactions worth ₹8.67 lakh crore across payments and platform services in FY25.
Carbon Credit Trading Scheme (CCTS) Expanded to Include 208 Additional Industrial Units
[Ministry of Environment, Forest and Climate Change (MoEFCC)]
Key Updates:
- The Government of India notified Greenhouse Gas Emission Intensity (GEI) targets for 208 additional carbon-intensive industrial units on 13 January.
- The notification brings petroleum refineries, petrochemicals, textiles, and secondary aluminium under the compliance mechanism of the Carbon Credit Trading Scheme (CCTS).
- The expansion increases the total number of obligated entities covered under the Indian carbon market framework to 490.
- Previously, in October 2025, the government notified GEI targets for 282 entities in the aluminium, cement, chlor-alkali, and pulp & paper sectors.
- The CCTS operates through two routes: a compliance mechanism for designated industries and an offset mechanism for voluntary projects by non-obligated entities.
- Under the compliance mechanism, entities that exceed their prescribed GEI reduction targets are awarded Carbon Credit Certificates, which can be sold to entities that fall short of their goals.
- The offset mechanism allows non-obligated entities to earn certificates through projects in renewables, energy efficiency, and afforestation.
- The initiative is designed to support India’s national commitment to achieve net-zero emissions by 2070.
Similar Coverage
- The government has widened the scope of the Indian carbon market by setting greenhouse gas emission intensity (GEI) targets for 208 more carbon-intensive industrial units.
- A notification issued on 13 January brings petroleum refineries, petrochemicals, textiles and secondary aluminium under the compliance mechanism of the Carbon Credit Trading Scheme (CCTS).
- With this latest inclusion, a total of 490 obligated entities across the country’s most emission-intensive sectors are now covered under the compliance framework of the Indian carbon market.
- The Ministry of Electronics and Information Technology (MeitY) Design Linked Incentive (DLI) Scheme under the Semicon India Programme aims to build a self-reliant, globally competitive chip design ecosystem.
- As many as 24 DLI-supported chip design projects target strategic sectors, including video surveillance, drone detection, energy metering, microprocessors, satellite communications, and IoT SoCs.
- Projects supported under the government's DLI scheme are scaling rapidly, with 16 tape-outs, 6 ASIC chips, 10 patents, over 1,000 engineers engaged, and over 3x private investment leveraged.
- With an outlay of Rs 76,000 crore, the India Semiconductor Mission (ISM) supports investments in semiconductor and display manufacturing as well as the design ecosystem.
- C-DAC, a premier R&D organisation under MeitY, is responsible for implementing the DLI Scheme as the Nodal Agency.
- The DLI Scheme supports semiconductor design across the full lifecycle—from design and development to deployment—covering Integrated Circuits (ICs), chipsets, Systems-on-Chip (SoCs), systems and IP cores.
- ONGC has signed a Memorandum of Understanding with National Scheduled Tribes Finance and Development Corporation (NSTFDC) to implement CSR-funded infrastructure and education-focused initiatives at Eklavya Model Residential Schools (EMRS).
- Under the CSR project, ONGC has sanctioned Rs 28 crore for strengthening digital learning infrastructure, health and hygiene interventions for girl students, capacity building of teachers, and career counselling and entrepreneurship training for students.
- The initiative will cover 144 EMRS located across 11 States and Union Territories, benefiting over 35,000 tribal students.
- The Ministry of Commerce announced two interventions under the Niryat Protsahan sub-scheme of the Export Promotion Mission.
- A base interest subvention of 2.75 per cent on pre- and post-shipment rupee export credit has been provided.
- Guarantee coverage of up to 85 per cent for micro and small exporters and up to 65 per cent for medium exporters, with a maximum outstanding guaranteed exposure of Rs 10 crore per exporter in a financial year, is being introduced in partnership with CGTMSE.
- An exporter-wise annual cap of Rs 50 lakh for each firm has been prescribed for FY 2025-26 under the interest subvention intervention.
Swasth Seema Abhiyan: Uttarakhand govt & ITBP sign MoU to strengthen health services in 108 border villages
[Uttarakhand, Indo-Tibetan Border Police (ITBP)]
Key Updates:
- Uttarakhand government and Indo-Tibetan Border Police (ITBP) signed an MoU under the first phase of Swasth Seema Abhiyan to provide integrated primary health services in 108 border villages of Pithoragarh, Chamoli and Uttarkashi districts.
- ITBP will provide qualified doctors, paramedical staff, medical examination rooms, telemedicine facilities and conduct regular visits to border villages as per a fixed schedule.
- ITBP will maintain beneficiaries' Medical Health Cards and manage equipment, medicines and consumables.
- State government will provide demographic data of villages, initial medical equipment and ensure continuous supply of medicines every six months based on consumption.
- State government will handle emergency evacuation, telecommunication support, equipment ownership and necessary replacements.
Similar Coverage
- Odisha and Meghalaya signed an MoU to strengthen Early Childhood Care, Education and Development through mutual learning and capacity building.
- The MoU covers nutrition, health, early learning, responsive caregiving, community engagement, and institutional capacity building.
- It provides for knowledge exchange, joint research, exposure visits, documentation of best practices, and capacity development of functionaries.
- Shatrujeet Singh Kapoor, former Haryana Police chief, has been appointed as the Director General of the Indo-Tibetan Border Police (ITBP).
- He succeeds Praveen Kumar, who has become the head of the Border Security Force (BSF).
- Kapoor, a 1990-batch IPS officer, had been relieved from the post of Haryana DGP following controversy related to the suicide of IPS officer Y Puran Kumar.
- Kapoor will serve as ITBP chief until October 31, 2026.
- Inland Waterways Authority of India (IWAI), nodal agency under Ministry of Ports, Shipping and Waterways (MoPSW), signed 25 MoUs for inland waterways development.
- The MoUs aim to strengthen river cruise tourism, ship repair infrastructure, multimodal connectivity and clean-energy transportation along National Waterway-1 (Ganga).
- Uttar Pradesh receives substantial share of commitments focused on expanding operations in Varanasi and along the Ganga corridor.
- Key MoUs include ₹800 crore for cruise tourism, ₹350 crore ship repair facility in Varanasi with UP government, ₹200 crore for two river cruise terminals in Varanasi, ₹100 crore for electric vessel charging infrastructure, ₹200 crore Regional Centre of Excellence in Varanasi, ₹1,000 crore with Rhenus Logistics for tug-barges, ₹1,500 crore with NTCPWC of IIT-Madras for dredging supervision, and ₹1,500 crore with IPRCL for rail connectivity DPR and PMC services.
- The Uttarakhand Legislative Assembly implemented the Uniform Civil Code (UCC) Bill.
- The Uniform Civil Code (UCC) is in accordance with the policy directives of the Constitution makers under Article 44 of the Constitution.
- Over 550 bills have been passed in the Uttarakhand Assembly, including the Uttarakhand Lokayukta Bill.
- Other bills passed by the Uttarakhand Assembly include the Uttarakhand Zamindari Abolition and Land Reforms Bill.
- The Anti-Cheating Bill was also passed by the Uttarakhand Assembly.
- These bills were inspired by transparency, morality, and social justice.
World Economic Forum (WEF) 2026 annual meeting concludes in Davos
[World Economic Forum (WEF)]
Key Updates:
- 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.
Similar Coverage
- Geoeconomic confrontation leaps to the top spot on the list of business worries over the next two years.
- The potential for adverse outcomes of artificial intelligence moved from 30th place among short-term risks as of last year to fifth place among long-term risks.
- Global power rivalries and strategic standoffs top the list of most severe near-term risks heading into 2026.
- Misinformation and disinformation rank second on the WEF's list of short-term risks, followed by societal polarization.
- Extreme weather remains the top concern among surveyed leaders for the next decade.
- More than 80 Indian CEOs are slated to attend the World Economic Forum's 56th annual conference in Davos from January 19 to 23.
- Senior Union ministers and delegations from a record nine states will spotlight efforts to engage global investors.
- Expected Indian corporate attendees include N Chandrasekaran of Tata Sons, Sunil Mittal of Bharti Group, Sajjan Jindal of JSW Group, Anish Shah of Mahindra Group, and Infosys non-executive chairman Nandan Nilekani.
- States sending delegations include Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Jharkhand and Kerala, some led by chief ministers such as Devendra Fadnavis and N Chandrababu Naidu.
- The WEF 2026 will feature six leaders of the G7, 65 heads of state and government, 850 top CEOs and chairpersons and around 100 leading unicorns and technology leaders.
- The International Monetary Fund (IMF) raised its 2026 global growth projection by 0.2 percentage points to 3.3%.
- The IMF now assumes an effective U.S. tariff rate of 18.5 per cent, down from around 25 per cent in earlier estimates.
- The IMF upgraded its U.S. growth forecast for 2026 to 2.4 per cent and trimmed the 2027 outlook to 2.0 per cent.
- Spain’s 2026 forecast was raised to 2.3 per cent, while Britain’s projection remained unchanged at 1.3 per cent.
- China’s 2026 growth forecast was lifted to 4.5 per cent, below its stronger-than-expected 5 per cent performance in 2025.
- The euro zone 2026 projection was lifted to 1.3 per cent, driven by higher public spending in Germany and better performance in Spain and Ireland.
- Brazil’s 2026 forecast was cut to 1.6 per cent as tighter monetary policy weighs on growth.
- Global inflation is expected to ease from 4.1 per cent in 2025 to 3.8 per cent in 2026 and 3.4 per cent in 2027.
- Consumer Unity & Trust Society (CUTS) International launched the global initiative “Trade Not Just Aid: Winners and Losers in the WTO” (TRaNJA).
- The TRaNJA steering committee is co-chaired by Shashi Tharoor, MP and former foreign minister of India, and Pascal Lamy, former Director-General of the WTO.
- The 21-member steering committee includes experts from all corners of the world.
- The launch event was organised by Konrad Adenauer Stiftung and held in Tokyo, Japan, on 2-4 December, 2025, with nearly 30 experts from 16 countries participating.
- CUTS Secretary General Pradeep S. Mehta stated that around 70% of world trade still occurs on non-discriminatory MFN terms agreed at the WTO.
- Mehta highlighted that the predictability and stability provided by the WTO system has raised world trade volumes by over 45 times the level of trade in the 1950s.
Hindustan Aeronautics Limited (HAL) to set up MRO hub at Missamari in Assam
[Hindustan Aeronautics Limited (HAL), Assam]
Key Updates:
- Hindustan Aeronautics Limited (HAL) will establish a Maintenance, Repair and Overhaul (MRO) hub at Missamari in Assam.
- The foundation stone was unveiled by the GOC, Blazing Sword Division, and P.B. Rangarao, Chief Executive Officer of Helicopter Complex, HAL.
- The MRO hub aims to reduce repair turnaround time and provide sustained support to Army Aviation and the Indian Air Force.
- The initiative aligns with the Government of India's vision of #AtmanirbharBharat.
Similar Coverage
- Union Civil Aviation Minister Ram Mohan Naidu inaugurated DHRUV-NG, the next-generation civil helicopter, at Hindustan Aeronautics Limited (HAL) in Bengaluru.
- DHRUV-NG is a 5.5-tonne, light twin-engine, multi-role helicopter engineered to master the diverse and demanding requirements of the Indian terrain.
- The helicopter is equipped with twin Shakti 1H1C engines and features a civil-certified Glass Cockpit compliant with AS4 requirements.
- It has a maximum take-off weight of 5,500 kg, a maximum speed of 285 km/h, and can carry up to 14 passengers.
- HAL offers a 'One-Stop Solution' for manufacturing, maintenance, and upgrades, with operational support through Power-By-Hour (PBH) and Performance-Based Logistics (PBL) models.
- Tata Advanced Systems has been awarded a supply order to support the Indian Army's 510 Advance Base Workshop (ABW) in the overhaul cum upgradation of in-service first-generation Pinaka Multiple Launch Rocket Systems (MLRS) and Battery Command Posts (BCPs).
- In the initial phase, Tata Advanced Systems and 510 ABW will jointly undertake a pilot overhaul of select Pinaka MLRS and BCPs.
- Following the pilot phase, the remaining systems will be overhauled by 510 ABW with Tata Advanced Systems providing critical spares, quality assurance and technical support.
- Tata Advanced Systems partnered with the Defence Research and Development Organisation (DRDO) to design and develop the Pinaka MLRS.
- The company has achieved nearly 80 per cent indigenous content in the Pinaka MLRS.
- Pinaka MLRS is mounted on an 8x8 High Mobility Vehicle and features automated 'shoot-and-scoot' operations.
- Tata Advanced Systems Ltd. (TASL) and Lockheed Martin announced an expansion of their partnership with the launch of a new Maintenance, Repair and Overhaul (MRO) facility to service the Indian Air Force’s (IAF) C-130J Super Hercules tactical airlifter fleet.
- The IAF currently flies 12 C-130J aircraft used for strategic airlift, special operations and humanitarian missions.
- Construction is scheduled to be completed by end-2026, with the first aircraft entering MRO operations in early 2027, TASL said.
- The upcoming facility will offer depot-level and heavy maintenance, component repair, structural restoration, avionics upgrades, and training for Indian engineers and technicians.
- The new MRO centre will join Lockheed Martin’s network of Certified Service Centers, with capabilities to support C-130J, KC-130J and legacy C-130 B-H variants.
- PM Shri Tourism Helicopter Service was launched in Madhya Pradesh.
- Chief Minister Mohan Yadav, along with Union Aviation Minister Kinjarapu Rammohan Naidu, flagged off the service.
- Madhya Pradesh has become the first state in the country to introduce intra-state connectivity and an air ambulance.
- Through the service, tourists will now be able to enjoy spiritual and religious pilgrimages and wildlife sanctuaries in remote areas via helicopters.
- Tourists will be offered a travel and return package, including accommodation, local transportation, breakfast, lunch, and dinner, along with a guide.
- An MoU for the construction of an airport in Ujjain was also signed between the Central and state governments.
- The service will begin in Sector 1 covering Indore, Ujjain, Omkareshwar, Mandu, Maheshwar, and the western region of Madhya Pradesh.
- Sector 2 will cover Central Madhya Pradesh including Bhopal, Pachmarhi, Sanchi, and Orchha.
- Sector 3 will cover Jabalpur, Bandhavgarh, Kanha, Khajuraho, and Chitrakoot.
Zoological Survey of India (ZSI) Discovers New Caecilian Species Gegeneophis valmiki in Maharashtra
[Zoological Survey of India (ZSI), Maharashtra]
Key Updates:
- A multi-institutional research team led by the Zoological Survey of India (ZSI) has discovered a rare subterranean amphibian species named Gegeneophis valmiki.
- The discovery was made in the northern Western Ghats on the Valmiki Plateau in the Satara district of Maharashtra.
- The species belongs to the genus Gegeneophis, commonly known as blind caecilians, which live underground and have eyes hidden beneath bone.
- The findings were published in the international journal Phyllomedusa based on specimens first collected in 2017 by K P Dinesh, a senior scientist at the ZSI.
- The species is named after the Maharshi Valmiki Mandir located near the discovery site.
- ZSI Director Dhriti Banerjee stated that 41 per cent of amphibians globally are currently threatened with extinction.
Similar Coverage
- Indian scientists have discovered a rare subterranean amphibian species in the northern Western Ghats of Maharashtra and named it Gegeneophis valmiki.
- The discovery, made by a multi-institutional research team led by the Zoological Survey of India (ZSI), has been published in the international journal Phyllomedusa.
- The species was first collected in 2017 by K P Dinesh, senior scientist at ZSI, during surveys on the Valmiki Plateau in Maharashtra's Satara district.
- Members of the genus Gegeneophis, commonly called blind caecilians, live almost their entire lives underground with eyes hidden beneath bone.
- According to ZSI Director Dhriti Banerjee, 41 per cent of amphibians are threatened with extinction globally.
- Scientists have identified a new species of reed snake, Calamaria mizoramensis, in Mizoram, India.
- The breakthrough came with a fresh round of research published in Zootaxa.
- The snake showed more than a 15 per cent genetic difference from its closest known relatives.
- This newly identified snake is non-venomous and mostly active at night.
- It prefers moist, forested hills and has been found at elevations between 670 and 1,295 metres.
- Scientists from the Zoological Survey of India (ZSI) have discovered two new species of jumping spiders in Meghalaya.
- The species are named Asemonea dentis and Colyttus nongwar.
- Jumping spiders (family Salticidae) are known for their exceptional vision, agile movement, and web-free predatory behaviour.
- Asemonea dentis is only the third species from its little-known genus to be reported in India, with its name deriving from dentis, Latin for 'tooth', referring to a distinctive tooth-like projection on the male's palpal femur.
- Colyttus nongwar represents just the second Indian species of the Oriental genus Colyttus, named after Nongwar village in Meghalaya.
- Meghalaya is one of the world's richest ecological frontiers, and the northeast is a vital component of the Indo-Burma biodiversity hotspot.
- Scientists from the Zoological Survey of India (ZSI) have identified a new species of Collembola named Neelus sikkimensis in Sikkim's high-altitude regions.
- Neelus sikkimensis is the first of its genus to be recorded in India, expanding the global genus count to eight.
- The ZSI's Apterygota Section, led by Gurupada Mandal and Kusumendra Kumar Suman, conducted the research and published findings in the Journal of the Entomological Research Society.
- The species possesses unique biological traits suited for life in deep soil and moss, and Collembola play a crucial role in maintaining terrestrial ecosystem health.