Narayan Ramachandran heads PFRDA (Pension Fund Regulatory and Development Authority) constituted 9-member SAARG committee.
[Pension Fund Regulatory and Development Authority (PFRDA)]
Key Updates:
- Narayan Ramachandran, former country head and CEO of Morgan Stanley India, chairs the SAARG committee formed by PFRDA.
- The committee includes former whole-time member Ananth Narayan, Motilal Oswal Co-founder Raamdeo Agrawal, DSP Mutual Fund MD & CEO Kalpen Parekh, and First Global Founder & CMD Devina Mehra.
- PFRDA mandates the SAARG committee to review and modernise the National Pension System (NPS) investment framework within 9 months.
- The panel will benchmark NPS guidelines against leading global pension systems and the evolving Indian investment ecosystem.
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- Aparna Garg, Director General (DG), Indian Railways Institute of Financial Management (IRIFM), has been appointed as the Member Finance, Railway Board (RB), with effect from December 1, 2025.
- Her appointment is for a period of three months or until further orders and will be in addition to her current duties.
- She is an Indian Railway Accounts Service (IRAS) officer of the 1987 batch.
- She has held key positions such as Principal Financial Advisor, Rail Wheel Factory, Bengaluru, and Divisional Railway Manager of Mysore.
- She has also served in various other capacities in Southern Railway, Western Railway, and South-Western Railway zones.
- The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a high-level committee to formulate guidelines and regulations for establishing a framework for assured payouts under the National Pension System (NPS).
- The committee will be chaired by Dr. M. S. Sahoo, Founder of Dr. Sahoo Regulatory Chambers and former Chairperson of the Insolvency and Bankruptcy Board of India (IBBI).
- The 15-member panel comprises experts from law, actuarial science, finance, insurance, capital markets, and academia.
- The committee has been established as a standing advisory committee on structured pension payouts.
- Its core objectives include formulating regulations for assured payout products, designing an end-to-end framework for transition from accumulation to payout phase, and enabling legally enforceable, market-based guarantees for assured payouts.
- The committee will define operational parameters such as lock-in periods, withdrawal limits, pricing methodologies, and fee and cost structures for service providers.
- It will establish capital and solvency requirements for providers and examine tax implications for payout options within the NPS architecture.
- The committee will develop standardized disclosure norms to prevent mis-selling and align subscriber expectations with market-based guarantees.
- The Reserve Bank of India has recognised the Self-Regulated PSO Association (SRPA) as the first Self-Regulatory Organisation for Payment System Operators.
- In October 2025, the RBI recognised the Finance Industry Development Council (FIDC) as the SRO for NBFCs.
- The RBI granted SRO status to the FinTech Association for Consumer Empowerment (FACE) in August 2024.
- The recognition follows the RBI’s Framework for Recognition of a Self-Regulatory Organisation (SRO) for Payment System Operators, issued in October 2020.
- The recognition also follows the Omnibus Framework for Recognition of SROs for Regulated Entities of the Reserve Bank released in March 2024.
- According to the 2020 framework, an SRO must be a not-for-profit entity comprising only regulated payment system participants, both banks and non-banks.
- Once recognised, an SRO like SRPA is tasked with setting behavioural and professional standards for its members, resolving inter-PSO disputes, and acting as the collective voice of the payments industry in consultations with the RBI and other authorities.
- An SRO will also monitor member compliance and report violations of RBI guidelines or the Payment and Settlement Systems Act, 2007.
- The Pension Fund Regulatory and Development Authority (PFRDA) notified amendments to the PFRDA Exits and Withdrawals Regulations, 2015, applicable to the National Pension System (NPS).
- The permissible lump-sum withdrawal at normal exit has been increased from 60% to 80%, while the mandatory annuity portion has been reduced to 20%.
- The maximum exit age for subscribers has been extended from 70 years to 85 years.
- For the All Citizen Model, normal exit is now permitted after 15 years of investment or upon reaching 60 years of age, whichever is earlier.
- The threshold for 100% lump-sum withdrawal for non-government subscribers has been raised from ₹5 lakh to ₹8 lakh.
- The mandatory 5-year minimum subscription period previously required for premature exit has been removed for non-government subscribers.
- New structured withdrawal mechanisms, namely Systematic Lumpsum Withdrawal (SLW) and Systematic Unit Withdrawal (SUR), have been introduced to allow periodic redemption of investment units.
- For government subscribers with a corpus between ₹8 lakh and ₹12 lakh, a lump-sum withdrawal of up to ₹6 lakh is permitted, with the remainder accessible via SUR.
- The list of permitted reasons for partial withdrawal has been liberalized to include medical treatment without restriction to a specific list of illnesses.
Ministry of Statistics and Programme Implementation (MoSPI) to launch National Household Income Survey (NHIS) in 2026
[Ministry of Statistics and Programme Implementation (MoSPI)]
Key Updates:
- The Ministry of Statistics and Programme Implementation (MoSPI) will launch the National Household Income Survey (NHIS) and the Annual Survey of Incorporated Service Sector Enterprises (ASISSE) in April 2026.
- The National Statistics Office (NSO) will conduct the fieldwork for both surveys digitally across India for a duration of one full year.
- MoSPI is convening an All-India Workshop of Trainers (AIWOT) in Chennai on 28–29 January 2026 to prepare senior officials and field functionaries for the rollout.
- The NHIS will provide data on household income distribution, living conditions, and sources of income from labour, capital, and land.
- The ASISSE will build a national database of the corporate services sector, capturing indicators such as Gross Value Added (GVA), fixed capital formation, employment, and emoluments.
- The ASISSE will use an enterprise-based approach aligned with the Goods and Services Tax Network (GSTN) framework to generate estimates at state and industry levels.
- The surveys will cover the entire Indian Union, with the exception of villages in the Andaman and Nicobar Islands that remain inaccessible year-round due to geographical constraints.
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- National Newborn Week will be observed across the country from November 15 to 21 with the theme “Newborn Safety: Every Touch, Every Time, Every Baby.”
- The theme underscores the urgent need to prioritize newborn safety at every stage of care.
- The week-long initiative aims to reinforce a culture of safety through health workers, parents, and hospital systems.
- The Reserve Bank of India (RBI) announced the launch of the next round of three key surveys.
- The November 2025 round of Inflation Expectations Survey of Households (IESH) aims at capturing subjective assessments on price movements and inflation across 19 cities.
- The Urban Consumer Confidence Survey (UCCS) seeks qualitative responses from households regarding their sentiments and is conducted regularly in 19 cities.
- The Rural Consumer Confidence Survey (RCCS) collects perceptions and expectations from households residing in rural and semi-urban areas across 31 states and UTs.
- The RBI stated that the results of the surveys provide useful inputs for monetary policy.
- The Monetary Policy Committee (MPC) is scheduled to meet for three days beginning December 3.
- The Government of India announced the implementation of the National Scheduled Caste and Scheduled Tribe Hub (NSSH) Scheme under the Ministry of Micro, Small & Medium Enterprises (MSME) in December 2025.
- The NSSH Scheme aims to enhance the competitiveness of SC/ST-owned enterprises by ensuring a minimum of 4% procurement from these businesses is fulfilled under the Public Procurement Policy.
- The scheme provides structured support through vendor development programmes, special marketing assistance, and capacity building to help SC/ST MSMEs compete for government contracts.
- To access benefits, entrepreneurs must complete Udyam Registration and register under the Single Point Registration Scheme (SPRS) to ensure visibility in government procurement databases.
- The initiative supports participation in national and international exhibitions to broaden market reach and expand networks for underserved entrepreneurs.
- The government will release a new series of national accounts on February 27, 2026, with fiscal year 2022-23 as the base year.
- An Advisory Committee on National Account Statistics (ACNAS) under the chairmanship of professor B.N. Goldar has been constituted to advise MoSPI.
- The Ministry has planned to release discussion papers on national accounts to apprise users of the changes in the new series.
Department of Posts (DoP) partners with Stock Holding Services Limited (SSL) to extend demat and IPO access through 1.65 lakh post offices.
[Department of Posts (DoP)]']
Key Updates:
- Department of Posts (DoP) signed an agreement with Stock Holding Services Limited (SSL) on 27 January 2026 at Dak Bhawan, New Delhi.
- The collaboration enables demat and trading account opening, mutual fund investments, IPO participation, and other SEBI-regulated investment products via India Post’s network of over 1.65 lakh post offices.
- SSL services will be accessible through digital onboarding links and QR codes hosted on official platforms and deployed at selected post office locations.
- SSL and DoP will jointly conduct structured investor education programmes targeting first-time investors, rural households, and semi-urban citizens.
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- Choice Wealth will deploy a one-stop digital investment platform providing online mutual funds aggregator services and Robo-Advisory services for IPPB customers.
- IPPB customers will access investment products through mobile applications, web-based platforms, and mATM-compatible devices.
- Axis Finance Ltd launches Axis Finance Vyapar Business Loan, offering collateral-free loans up to Rs 10 lakh for micro and small businesses in semi-urban and rural markets.
- NPCI International Payments Limited (NIPL) partnered with Bahrain’s BENEFIT to link India’s UPI with Bahrain’s Fawri+ for real-time cross-border remittances.
- The collaboration is established under the guidance of the Reserve Bank of India (RBI) and the Central Bank of Bahrain (CBB).
- NBBL, in collaboration with Clearcorp Dealing Systems (India) Ltd (Clearcorp), introduced the Forex category on Bharat Connect by integrating with Clearcorp’s FX-Retail Platform.
- Securities and Exchange Board of India (Sebi) introduced the SWAGAT-FI framework for Foreign Portfolio Investors (FPIs) and Foreign Venture Capital Investors (FVCIs) through two separate notifications dated December 1.
- The new framework is named Single Window Automatic & Generalised Access for Trusted Foreign Investors (SWAGAT-FI).
- SWAGAT-FI provides easier investment access to low risk foreign investors, enables a unified registration process, and reduces repeated compliance and documentation.
- Sebi identified low risk foreign investors as government-owned funds, central banks, sovereign wealth funds, multilateral entities, highly regulated public retail funds, appropriately regulated insurance companies, and pension funds.
- Sebi amended FPIs and FVCIs regulations, which will come into force on June 1, 2026.
- Under the new framework, Sebi granted an option to SWAGAT-FIs applying for registration or already registered as FPIs to also register as FVCI without further documentation.
- Registration under both FPI and FVCI regulations enables SWAGAT-FIs to invest in listed equity instruments and debt securities as FPI, and in unlisted Indian companies and startups as FVCI.
- Sebi increased the periodicity for continuance of registration, including payment of fee and review of KYC documentation, to 10 years.
- Sebi allowed retail schemes in International Financial Services Centres (IFSCs) with a resident Indian sponsor or manager to register as FPIs.
- Sebi amended FPI Regulations to subject sponsor contributions to a maximum of 10 percent of the fund's corpus or assets under management for retail schemes.
- As of June 30, 2025, India had 11,913 registered FPIs holding assets worth ₹80.83 lakh crore.
- SWAGAT-FIs are estimated to contribute more than 70 percent of total FPIs' assets under custody.
- BRISKPE receives RBI final authorisation to operate as a Payment Aggregator-Cross Border under the Payment and Settlement Systems Act 2007.
- Authorisation covers both inward and outward payment flows within the RBI PA-CB regulatory framework.
- BRISKPE becomes one of India’s youngest cross-border payments fintechs to secure PA-CB approval.
- Platform serves over 10,000 customers, majority being MSME exporters.
- BRISKPE targets scaling transaction volumes above USD 1 billion by end-2026.
- Operations integrate with global banks for collections and AD Category-I banks in India.
- Platform holds ISO 27001, SOC-II-Type-II certifications and is GDPR compliant.
National Aeronautics and Space Administration (NASA) James Webb Space Telescope (JWST) captures galaxy cluster MACS J1149.5+2223
[National Aeronautics and Space Administration (NASA)]
Key Updates:
- The National Aeronautics and Space Administration (NASA) James Webb Space Telescope (JWST) has captured a detailed image of the massive galaxy cluster MACS J1149.5+2223.
- The galaxy cluster is located approximately 5 billion light-years away from Earth in the constellation Leo.
- The image demonstrates gravitational lensing, a phenomenon where the immense gravity of the cluster distorts light from background galaxies into arcs and elongated streaks.
- MACS J1149.5+2223 contains over 300 verified galaxies and is identified as one of the largest gravitationally bound objects in the universe.
- A lensed spiral galaxy within the cluster, resembling a pink jellyfish, previously hosted the most distant single star ever discovered and a supernova seen four times due to lensing.
- The observations were conducted using the Near-Infrared Camera (NIRCam), Near-Infrared Spectrograph (NIRSpec), and Near-Infrared Imager and Slitless Spectrograph (NIRISS) instruments.
- The study is part of the Canadian NIRISS Unbiased Cluster Survey (CANUCS) programme, which aims to investigate the first generations of galaxies and the era of reionisation.
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- NASA's James Webb Space Telescope identified nearly 800,000 galaxies to create the most detailed dark-matter map over such a large sky area.
- The map has twice the resolution of previous attempts using the Hubble Space Telescope and captures galaxies spanning the past 10 billion years.
- The study, led by Diana Scognamiglio of NASA's Jet Propulsion Laboratory (JPL), was published in Nature Astronomy.
- Dark matter comprises just over 25% of the universe, while ordinary matter makes up only 5% and dark energy fills the remainder.
- Scientists infer dark-matter distribution by measuring how its gravity warps light from distant galaxies, a technique called gravitational lensing.
- NASA dubbed the object 'Cloud-9' and described it as a 'starless, gas-rich dark-matter' hydrogen cloud.
- Cloud-9's core is made up of neutral hydrogen and is about 4,900 light-years in diameter.
- The hydrogen mass is estimated at one million times the mass of the sun, with dark matter totaling about five billion solar masses.
- Cloud-9 is the ninth gas cloud identified on the outskirts of the nearby spiral galaxy Messier 94 and appears to have a 'physical association' with it.
- Hubble Space Telescope observations confirmed there are no stars inside Cloud-9, supporting theories of failed galaxy formation.
- Indian astronomers have discovered 'Alaknanda,' a remarkably well-formed spiral galaxy.
- The discovery was made by astronomers Rashi Jain and Yogesh Wadadekar from Pune-based National Centre for Radio Astrophysics (NCRA).
- The astronomers used the powerful James Webb Space Telescope (JWST) for this discovery.
- Galaxy Alaknanda is located 12 billion light years away and is 30,000 light years across.
- Alaknanda likely formed when the Universe was only about 1.5 billion years old.
- The galaxy exhibits a mature structure with clear arms, similar to our Milky Way, in a fraction of the time previously thought possible.
- Alaknanda has the textbook grand spiral design, with two clear spiral arms wrapped around a bright centre.
- The galaxy is forming new stars at an exceptionally rapid rate, nearly 30 times higher than the Milky Way today.
- Observations suggest Alaknanda contains around 10 billion times the mass of the Sun in stars.
- Its spiral arms show a beads-on-a-string pattern that signals active star formation.
- The discovery challenges existing models of galaxy formation, as scientists believed galaxies that formed this quickly after the Big Bang should be chaotic and irregular in design.
- The low contribution of light from Alaknanda's central bulge suggests it grew mainly through smooth gas accretion rather than through major collisions.
- The research on Alaknanda was published in the journal Astronomy and Astrophysics.
- Scientists will continue to study Alaknanda to understand how this galaxy assembled so fast.
- Astronomers using National Aeronautics and Space Administration (NASA)’s James Webb Space Telescope (JWST) have characterized a remarkable exoplanet with an unusual lemon shaped appearance.
- Designated PSR J2322-2650b, this Jupiter-mass world orbits a rapidly spinning neutron star known as a pulsar.
- Strong gravitational tides from the compact host stretch the planet into a distinctive lemon shaped exoplanet, marking it as one of the most deformed worlds observed to date.
- The lemon shaped exoplanet completes an orbit around its pulsar every 7.8 hours, at a distance of approximately 1 million miles.
- This discovery represents the first known Jupiter-mass gaseous planet orbiting a pulsar.
- Observations with the JWST revealed an atmosphere dominated by helium and carbon, featuring detectable molecular carbon species such as C2 and C3.
- Day-side temperatures reach up to 3,700 degrees Fahrenheit, while the night side cools to about 1,200 degrees Fahrenheit.
- The pulsar’s emission is negligible in the infrared wavelengths observed by JWST, enabling a clear transmission spectrum of the planet’s atmosphere without significant contamination from the host.
- The system resembles a black widow pulsar, where the neutron star evaporates its companion, yet the planetary mass and composition do not fit standard stripping models.
Indian Institute of Technology, Guwahati (IIT Guwahati) develops framework to predict glacial lake formation
[Indian Institute of Technology, Guwahati (IIT Guwahati), Assam]
Key Updates:
- Researchers from the Indian Institute of Technology, Guwahati (IIT Guwahati) have developed an advanced predictive framework to identify areas where new glacial lakes are likely to form in the Eastern Himalayas.
- The framework is designed to address the risk of Glacial Lake Outburst Floods (GLOFs) caused by rapid glacier melting and expansion due to climate change.
- The probabilistic model utilizes high-resolution satellite imagery and digital elevation data to account for topographical features such as bowl-shaped depressions and valleys.
- The research team evaluated multiple predictive methods, including Logistic Regression, Artificial Neural Networks (ANN), and Bayesian Neural Networks (BNN).
- The Bayesian Neural Network (BNN) approach was identified as the most accurate method for predicting potential glacial lake formation sites.
- The study identified 492 specific locations in the Eastern Himalayas where new glacial lakes are likely to form.
- The research findings have been published in the international journal Scientific Reports.
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- Siliserh Lake in Alwar district was declared a Ramsar site Friday by The Convention on Wetlands, making it India's 96th such recognised wetland.
- Kopra reservoir near Bilaspur in Chhattisgarh has also been added to the list.
- The designation is a major boost for biodiversity conservation, water and climate security, and sustainable livelihoods.
- Siliserh is known for its rich biodiversity and scenic landscape, offering sightings of more than 100 bird and animal species.
- Its proximity to the Sariska Tiger Reserve further enhances its appeal as a key tourism destination in the region.
- The Ramsar status would help strengthen conservation efforts, promote tourism, and support biodiversity and water-resource management around the lake.
- Built in 1845 by Maharaja Vinay Singh to supply drinking water to Alwar city, Siliserh Lake remains an important historical and ecological landmark, with its old aqueducts still visible around the site.
- The Geological Survey of India (GSI), under the Ministry of Mines, will host the 65th meeting of the Central Geological Programming Board (CGPB) on 21 January 2026 at the A. P. Shinde Symposium Hall, ICAR, Pusa, New Delhi.
- The CGPB serves as GSI’s apex coordination platform where the organisation’s Annual Field Season Programme (FSP) is presented, scrutinised, and finalised.
- Exploration focuses on critical and strategic minerals such as lithium, rare earth elements (REEs), graphite, platinum group elements (PGEs), vanadium, scandium, and cesium, in alignment with India’s energy transition goals.
- The GSI will adopt next-generation exploration technologies, including AI and machine learning-based data integration, advanced geophysical surveys, hyperspectral remote sensing, deep drilling, and mineral system-based studies.
- The Annual Programme for Field Season 2026–27 comprises 1,068 rigorously peer-reviewed projects across multiple earth-science disciplines, including carbon sequestration studies and offshore exploration.
- Environmental initiatives include landslide hazard zonation and slope stability studies, with a focus on disaster risk reduction in the Himalayan and North-Eastern regions.
- Gogabeel Lake—an oxbow wetland between the Ganga and Mahananda rivers—has been designated as India’s 94th Ramsar site
- The lake is Bihar’s first community reserve, “conserved and managed by the local community”
- With this addition, Bihar now has six Ramsar sites, placing it third among Indian states
- India remains the top Ramsar nation in Asia and third globally behind the UK (176) and Mexico (144)
- The Convention secretariat notes that during floods the lake joins the two rivers, highlighting its hydrological role
- Meghalaya inaugurated the Soil Lake at Williamnagar in East Garo Hills, developed under the Nengsang River Valley Project.
- The Soil Lake aims to rejuvenate a key water body, boost eco-tourism, and promote sustainability and ecological balance.
- Chief Minister Conrad K Sangma warned that Meghalaya may have "even crossed the tipping point" due to intensifying climate impacts on water bodies, agriculture, and forests.
- The state faces environmental decline, including a decline in spring discharge, irregular rainfall, and greater soil erosion over the past decade.
- Nearly 70,000 springs sustain rural households in Meghalaya, with over 40 per cent of villages reporting reduced water availability during lean seasons.
- The newly developed lake is a 0.5-hectare water body, capable of holding nearly 10,000 cubic metres of water.
- The government's response includes the Meghalaya Climate Change Council and flagship programmes such as spring rejuvenation, watershed development, and climate-adaptive water harvesting.
- More than 500 new structures are planned to support irrigation, recharge groundwater, and moderate floods and droughts.
- A community-based water harvesting programme involves 533 structures to strengthen irrigation, flood control, and micro-hydropower generation.