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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Insolvency and Bankruptcy Board of India Introduces Revised Electronic Forms for Liquidation Process from January 2026 to Simplify Compliance

• The Insolvency and Bankruptcy Board of India (IBBI) has introduced revised electronic forms for the liquidation process, effective January 2026, to simplify compliance and improve the quality of regulatory filings.
• The revision follows amendments to the IBBI (Liquidation Process) Regulations, 2016, notified on January 2, 2026, requiring insolvency professionals to submit liquidation-related forms with supporting enclosures on IBBI’s electronic platform within prescribed timelines.

Key Highlights :

• The move aims to strengthen transparency and reduce procedural complexity in the liquidation process.
• The existing liquidation forms have been comprehensively revised to remove duplication and rationalise data requirements, leveraging technology to auto-populate information already available on the portal.
• The new system is expected to reduce time and effort for regulatory compliance while maintaining availability of critical information.
• Under the revised framework, four forms (LIQ-1 to LIQ-4) will now cover the entire lifecycle of liquidation, including commencement and public announcement, periodic progress reporting, asset realisation and distribution, unclaimed proceeds, stakeholders’ consultation meetings, and receipts and payments up to dissolution or closure.
• All revised forms, except LIQ-2, will be available from January 1, 2026, while LIQ-2 will be enabled from February 1, 2026; existing forms will be discontinued from these dates.
• To ensure a smooth transition, IBBI has granted penalty relief for delayed filings during January–March 2026.
• A form-modification utility with OTP-based authentication has been introduced to correct errors, while non-filing or submission of inaccurate information may attract regulatory action.

IDFC FIRST Bank Introduces Zero-Forex Diamond Reserve Credit Card for Global Travellers

• IDFC FIRST Bank launched the ‘Zero-Forex Diamond Reserve Credit Card’, a premium credit card designed for frequent international travellers, offering zero foreign exchange (Forex) markup along with travel and lifestyle benefits.

Key Highlights :

• Digital Application Facility: The card can be applied online via the bank’s website or mobile app, with a ₹500 gift voucher on spending ₹5,000 within 30 days of card activation.
• Travel & Lounge Benefits: Provides domestic and international airport lounge access on a minimum monthly spend of ₹20,000, and airport meet-and-greet services on USD 1,000 annual spend.
• Insurance Coverage: Includes trip cancellation cover of ₹25,000, coverage for lost baggage and flight delays, ₹1 crore air accident insurance, and ₹10 lakh personal accident cover.
• Fees & Interest Structure: Carries a ₹3,000 + GST joining and annual fee, waived on ₹6 lakh annual spend, with dynamic interest rates starting from 8.5% per annum, and 0% interest on global ATM withdrawals till due date (₹199 withdrawal fee applicable).
• Fuel & ATM Benefits: Offers fuel surcharge waiver at select outlets and supports international ATM withdrawals with minimal charges.
• Reward Points System: Cardholders earn up to 60 reward points per ₹150 spent on hotels, 40 points on flights, and 10 points on other spends, with each reward point valued at ₹0.25.
• Reward Redemption: Reward points come with lifetime validity, no earning cap, and can be redeemed online, enhancing long-term value for users.

India Ratings Forecasts 6.9% GDP Growth for India in FY27 Despite Global Challenges

• India Ratings and Research (Ind-Ra), a wholly-owned subsidiary of the Fitch Group, projected India’s Gross Domestic Product (GDP) growth at 6.9% in FY27, lower than the estimated 7.4% growth in FY26.
• The FY27 growth outlook faces several risk factors, including a possible El Niño pattern from mid-2026, weak investment momentum, sluggish global trade growth, and soft current demand conditions.
• Base effect risks arise due to the proposed change in base year for GDP to 2022-23 and Consumer Price Index (CPI) to 2024, replacing earlier base years 2011-12 and 2012, respectively.
• Private Final Consumption Expenditure (PFCE), a key indicator of household demand, stood at 5.6% in FY24, increased to 7.2% in FY25, and further improved to 7.5% in H1 FY26 (April–September).
• Ind-Ra projected PFCE growth at 7.6% year-on-year in FY27, highlighting its importance as PFCE accounts for nearly 55.9% of GDP (Q2 FY26) from the demand side.
• The agency stated that India’s inflation outlook for Q4 FY26 and FY27 remains benign, supporting macroeconomic stability.

About India Ratings and Research (Ind-Ra) :

• Established : 1995
• Headquarters : Mumbai, Maharashtra
• Chairman and Managing Director : Rohit Karan Sawhney.

Financial Software and Systems Becomes First Payments Firm Across India, Middle East, Asia-Pacific and South Africa to Earn ISO/IEC 42001 Certification

• Financial Software and Systems (FSS),a payment solutions and transaction processing company, has become the first payments company in India, the Middle East (ME), Asia-Pacific (APAC), and South Africa (SA) to receive the International Organization for Standardization (ISO)/ International Electrotechnical Commission (IEC) 42001 (ISO/IEC 42001) Certification.
• The ISO/IEC 42001 certification reflects FSS’s commitment to the responsible, ethical, and trustworthy use of Artificial Intelligence (AI) across its digital payments platforms.
• ISO/IEC 42001 is the world’s first international standard specifically designed for Artificial Intelligence Management Systems (AIMS).
• The standard recognizes organizations that ensure ethical AI governance, transparency, accountability, and explainability in AI-driven systems.
• The objective of ISO/IEC 42001 is to establish a structured AI governance framework that promotes responsible and ethical AI usage.
• It focuses on risk mitigation, including addressing algorithmic bias, unintended outcomes, and regulatory non-compliance.
• The certification strengthens trust in AI-based financial and payment technologies, reinforcing global best practices in AI management systems.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prasar Bharati to Resume Thadou Language Broadcasts in Manipur

• Prasar Bharati has initiated efforts to resume live radio programmes in the Thadou language from All India Radio Imphal, halted during Manipur’s ethnic violence in 2023.
• The step follows requests from Thadou community organisations and is aimed at cultural inclusion and confidence-building in the state.
• Administrative and staffing preparations have begun, including recalling earlier Thadou staff or recruiting new personnel for live broadcasts.
• Prior to the violence, live Thadou programmes were aired daily; currently, only recorded Thadou songs are broadcast from 5:00–5:30 pm.
• Live programmes are seen as crucial for preserving language, culture, and social identity of the Thadou community, while promoting peace and mutual respect among ethnic groups.
• The move aligns with wider assertions of Thadou identity following events such as the killing of Thadou leader Nehkam Jomhao in August 2024 and the Thadou declaration in Guwahati, November 2024 reaffirming them as an independent indigenous tribe.
• Thadou Tribe Key Facts:
• Indigenous to hill areas around Imphal Valley, Manipur, with smaller populations in Nagaland, Assam, Tripura, Meghalaya, Mizoram, and Delhi.
• Population in Manipur: 190,595 (Census 2011), second-largest tribe after Meiteis.
• Language: Thadou and Chin, part of Tibeto-Burman branch of the Sino-Tibetan family.
• Cultural affiliation: Shares heritage with Chin–Kuki–Mizo community.
• The initiative highlights the role of Prasar Bharati and regional language broadcasting in promoting social harmony, cultural preservation, and nation-building.

About Manipur:

• Chief Minister: N. Biren Singh
• Governor: La. Ganesan
• Capital: Imphal
• National Parks: Keibul Lamjao National Park
• Wildlife Sanctuaries: Yangoupokpi-Lokchao Wildlife Sanctuary, Sirohi National Park, Manipur Zoological Garden, Ferenwild Sanctuary

Badalta Bharat Mera Anubhav Campaign Recognises Citizen Participation

• The Ministry of Information and Broadcasting announced the winners of four creative challenges under the Badalta Bharat Mera Anubhav campaign, organised in collaboration with MyGov.
• The campaign encouraged citizens to share personal experiences and creative expressions showcasing India’s transformation over the past 11 years, highlighting development, governance reforms, and social change.
• It aligned with the Viksit Bharat@2047 vision, aiming to transform India into a developed nation by the centenary of Independence.
• Citizens from diverse backgrounds participated, reflecting progress in sectors like infrastructure, technology, social welfare, and public service delivery, reinforcing participatory governance.
• Winners of the creative challenges include:
• Indrajeet Subodh Mashankar – First prize in Instagram Reel Contest
• Manthan Rohit – Top position in YouTube Shorts Challenge
• Sushovan Manna – Winner of Short AV Challenge: Story of New India
• Krishna Gupta – First prize in Blog Writing Contest
• Entries were recognised for their creativity and strong storytelling, reflecting citizens’ engagement in sharing governance-led transformation.

India Releases Literary Works to Promote Classical Languages and Inclusive Access

• Union Education Minister Shri Dharmendra Pradhan will release 55 literary works developed by Centres of Excellence for Classical Kannada, Telugu, Malayalam, and Odia, along with Tirukkural books and a sign language series in New Delhi.
• The publications aim to preserve ancient texts, support research and education, and are designed for both scholars and general readers.
• The works are developed under the Central Institute of Indian Languages (CIIL), which promotes linguistic diversity, multilingual education, and documentation of Indian languages.
• The Tirukkural series includes 13 books, and a 45-episode sign language interpretation series improves access for persons with hearing disabilities.
• The initiative strengthens cultural continuity, encourages young learners to engage with ancient texts, promotes inclusive education, and reinforces India’s multilingual and multicultural identity.
• India has 11 classical languages officially recognized for their ancient origins and rich literary traditions: Malayalam, Telugu, Tamil, Kannada, Sanskrit, Odia, Marathi, Assamese, Pali, Prakrit, and Marathi. Dedicated institutions support their study and promotion, forming the foundation of India’s cultural heritage.

India’s Ayurveda, Yoga & Naturopathy, Unani, Siddha, and Homeopathy (AYUSH) System Gains Global Recognition

• India’s traditional healthcare system AYUSH has been formally recognised in bilateral trade agreements with Oman and New Zealand, finalized.
• The agreements cover traditional medicine and health-related services, providing regulatory clarity and facilitating smoother trade.
• AYUSH recognition in these agreements strengthens India’s presence in global traditional medicine markets and promotes herbal products and wellness services.
• AYUSH systems include Ayurveda, Yoga, Naturopathy, Unani, Siddha, and Homoeopathy, focusing on preventive and holistic healthcare.
• Global recognition enhances credibility, supports Indian exporters entering regulated markets, and encourages research and wellness collaborations. It also advances India’s soft power through health diplomacy.
• Export growth highlights rising global demand: AYUSH and herbal exports increased by 6.11%, from USD 649.2 million (2023–24) to USD 688.89 million (2024–25).
• The sector includes medicines, wellness services, and education, with export promotion being a key government focus.

Nutrient-Based Subsidy (NBS) Scheme – Rabi 2025–26

• In January 2025, the Government of India approved NBS rates for the Rabi 2025–26 season, effective from 1 October 2025 to 31 March 2026, covering Phosphatic and Potassic (P&K) fertilizers, including DAP and multiple NPKS grades.
• The scheme aims to ensure affordable fertilizers, protect farmers from global price fluctuations, promote soil health, and sustain agricultural productivity.
• Launched on 1 April 2010, NBS provides fixed per-kg subsidy on nutrients – Nitrogen (N), Phosphorus (P), Potassium (K), Sulphur (S) – based on nutrient composition, not brand. Rates are revised annually or biannually.
• Coverage has expanded from 25 to 28 P&K fertilizer grades. New additions include fortified NPK and SSP grades and Ammonium Sulphate for Rabi 2025–26.
• Subsidy rates per kg: Nitrogen – ₹43.02, Phosphorus – ₹47.96, Potassium – ₹2.38, Sulphur – ₹2.87.
• DAP subsidy increased from ₹21,911/MT (Rabi 2024–25) to ₹29,805/MT (Rabi 2025–26). Other key fertilizers: MOP – ₹1,428/MT, SSP – ₹7,408/MT.
• Fertilizer sector is decontrolled, but GoI monitors MRP, profit margins (Importers 8%, Manufacturers 10%, Integrated 12%) and mandates display of subsidy & penalties for overcharging.
• Budget allocation for Rabi 2025–26: ₹37,952.29 crore (~₹736 crore more than Kharif 2025).
• Impact includes increase in P&K fertilizer production (112.19 LMT in 2014 → 168.55 LMT in Dec 2025) and foodgrain productivity (1,930 kg/ha → 2,578 kg/ha). Fortification incentives: Boron-coated – ₹300/MT, Zinc-coated – ₹500/MT.
• Integrated Fertilizer Management System (iFMS) monitors production, movement, and availability, ensuring timely delivery during peak sowing.
• Ministry of Chemicals and Fertilizers: Union Minister – Jagat Prakash Nadda, MoS – Anupriya Patel.

India to Launch First Hydrogen-Powered Train in Haryana

• India’s first hydrogen-powered train is set to operate in Haryana.
• The pilot project between Jind and Sonipat is in the final commissioning stage, with the hydrogen plant ready at Jind.
• The train is a Northern Railway pilot project aimed at demonstrating hydrogen as a clean fuel for rail transport.
• The train-set has been manufactured and tested.
• A hydrogen plant with 3,000 kg storage capacity has been set up at Jind.
• Hydrogen is produced using the electrolysis process, powered by a stable 11 kV electricity supply for uninterrupted operation.
• Haryana Chief Secretary Anurag Rastogi coordinated with Dakshin Haryana Bijli Vitran Nigam to monitor power supply.
• The project follows RDSO specifications to ensure safety and performance.
• Hydrogen trains produce zero carbon emissions at the point of use and serve as a sustainable alternative to diesel trains on non-electrified routes.
• The initiative supports India’s green energy and climate goals.

About Haryana:

• Chief Minister: Nayab Singh Saini 
• Governor: Ashim Kumar Ghosh
• Capital: Chandigarh
• National Parks: Sultanpur National Park, Kalesar National Park
• Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife Sanctuary

Government Creates 3-Year PPP Infrastructure Project Pipeline worth ₹17+ Lakh Crore

• Department of Economic Affairs (DEA) has operationalised a major Union Budget 2025–26 announcement by creating a three-year Public Private Partnership (PPP) project pipeline.
• The pipeline includes 852 infrastructure projects across Central Ministries, States, and Union Territories with a total estimated value exceeding ₹17 lakh crore.
• The initiative aims to accelerate infrastructure development, improve planning certainty, and crowd in private investment.
• The PPP pipeline provides advance visibility to investors, developers, banks, and contractors for better financing, risk assessment, and project preparation.
• Projects span key sectors such as roads, railways, ports, airports, energy, water, logistics, urban and social infrastructure, reflecting a whole-of-government approach.
• PPPs help reduce fiscal burden, improve execution efficiency, share risks effectively, and attract both domestic and foreign investments.
• The structured pipeline is expected to de-risk projects, enhance bankability, reduce delays, lower costs, and boost growth, employment, and competitiveness.

Union Government Relaxes Norms to Support Deep-Tech Startups with DSIR Funding

• The Union Government has relaxed funding norms to support deep-tech startups, allowing them to receive up to ₹1 crore financial assistance from the Department of Scientific and Industrial Research (DSIR).
• 42nd Foundation Day of the Department of Scientific and Industrial Research (DSIR) under the Ministry of Science & Technology (MoST), Union Minister of State (Independent Charge) for Science & Technology, Earth Sciences, PMO, Department of Space and Department of Atomic Energy, Dr. Jitendra Singh, announced a major relaxation of the mandatory three-year existence condition for deep-tech startups to avail recognition under DSIRs Industrial Research and Development Promotion Program.
• The funding is provided under the Industrial Research and Development Promotion Programme (IRDPP).
• DSIR functions under the Ministry of Science and Technology to promote industrial R&D, innovation, and technological advancement.
• Deep Technology refers to transformative, research-driven advanced technologies such as nanotechnology, biotechnology, material sciences, quantum technology, semiconductors, artificial intelligence, robotics, 3D printing, etc.
• The move strengthens India’s deep-tech ecosystem, promotes technological sovereignty, supports innovation-driven economy, and helps address national priorities like defence, healthcare, agriculture, and energy.
• This aligns with the Research Development and Innovation (RDI) Scheme, which has an outlay of ₹1 lakh crore over 6 years, with ₹20,000 crore allotted for FY 2025–26, funded from the Consolidated Fund of India.
• The Department of Science and Technology (DST) is the nodal agency for RDI Scheme implementation, focusing on enhancing private-sector R&D, supporting high Technology Readiness Level projects, enabling strategic tech acquisition, and creating a Deep-Tech Fund of Funds.

Tamil Nadu Announces Tamil Nadu Assured Pension Scheme (TAPS) for Government Employees

• Chief Minister M.K. Stalin announced the Tamil Nadu Assured Pension Scheme (TAPS) guaranteeing 50% of last drawn monthly salary as pension for state government employees and teachers.
• The announcement comes ahead of the upcoming Assembly elections, following a 23-year demand for restoration of the Old Pension Scheme (OPS).
• Under TAPS, employees will contribute 10% of their basic salary, while the remaining share will be borne by the State Government. Under OPS, the government fully funded pensions.
• Employee unions, who had threatened an indefinite strike from January 6, have withdrawn their protest after the announcement.
• Although the official statement did not mention an implementation date, government sources indicated that TAPS may come into force from January 1, 2027.
• The scheme will impose a significant financial burden on the state, including a one-time contribution of ₹13,000 crore and annual expenditure of ₹11,000 crore, which will be revised with salary hikes.
• Pensioners will receive Dearness Allowance (DA) hikes every six months, similar to serving employees.
• In case of a pensioner’s death, 60% of the pension will be provided as family pension to eligible dependents.
• Gratuity up to ₹25 lakh will be provided at retirement or in case of death during service, based on length of service.
• TAPS ensures minimum pension for employees retiring without completing qualifying service and provides compassionate pension for CPS employees who retired without pension before TAPS.
• Tamil Nadu’s committed expenditure already stands at 62% of revenue receipts, including pensions (14%), and is expected to rise with TAPS implementation.
• The announcement follows recommendations of a committee headed by IAS officer Gagandeep Singh Bedi and fulfils the DMK’s 2021 election promise on pension reform.

About Tamil Nadu:

• Capital: Chennai
• Chief Minister: M.K. Stalin
• Governor: R.N. Ravi
• National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
• Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

India’s Largest Integrated Inland Rainbow Trout Farm Inaugurated in Telangana

• Union Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh, along with Union Coal & Mines Minister G. Kishan Reddy, inaugurated India’s largest integrated inland Rainbow Trout farm in Ranga Reddy district, Telangana.
• The farm has been established by SmartGreen Aquaculture, a startup, with an estimated investment of around ₹50 crore.
• The project is notable because Rainbow Trout is traditionally a cold-water species, usually farmed only in high-altitude Himalayan regions, but this farm enables trout cultivation in the warm Deccan Plateau climate using advanced engineering and innovative technology.
• The initiative marks a major technological milestone in aquaculture, supporting diversification of fish species and boosting inland fish production.
• On the occasion, the Union Minister assured full support for trout export through the National Fisheries Development Board (NFDB), enhancing opportunities for international trade and farmer income.

About Telangana:

• Capital: Hyderabad
• Governor: Jishnu Dev Varma
• Chief Minister: Anumula Revanth Reddy
• National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife Sanctuary

CURRENT AFFAIRS : INTERNATIONAL NEWS

Oil and Natural Gas Corporation, Mitsui OSK Lines Join Hands to Set Up Two Joint Ventures for Ethane Shipping Operations

• The Oil and Natural Gas Corporation (ONGC), under the Ministry of Petroleum and Natural Gas (MoPNG), partnered with Mitsui OSK Lines (MOL) of Japan to enter the ethane shipping business through two Joint Ventures (JVs).
• The project is supported by MoPNG and the Department of Investment and Public Asset Management (DIPAM) under the Ministry of Finance (MoF).
• Two new JVs — Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited — are registered in GIFT City, Gandhinagar, Gujarat.
• Each JV will own one Very Large Ethane Carrier (VLEC), a specialised vessel designed for the safe and efficient transport of ethane.
• Ownership structure: ONGC holds 50% stake and MOL holds 50% stake in each JV.
• The VLECs will transport ethane from the USA to India to meet the feedstock requirements of ONGC Petro Additions Limited (OPaL), ONGC’s petrochemical arm.
• The initiative supports India’s energy and petrochemical security and aligns with the Government of India’s Maritime Amrit Kaal Vision (MAKV) 2047.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Ida Liu Named Chief Executive Officer of HSBC Private Bank

• HSBC Private Bank appointed Ida Liu as its new Chief Executive Officer (CEO), effective from January 05, 2026.
• She succeeds Gabriel Castello, who had been serving as the interim CEO since December 2024.
• Ida Liu brings over 25 years of global experience across wealth management, strategic advisory, and business transformation.
• She has extensive expertise in advising Ultra-High-Net-Worth (UHNW) clients on investment, liquidity, and legacy planning.
• Before joining HSBC, she served as the Global Head of Citi Private Bank from 2007.
• During her tenure at Citi Bank, she held several key leadership roles, including Head of Citi Private Bank North America.
• She also served as Head of Citi Private Bank New York (USA).
• Additionally, she led the Asian Clients Group, highlighting her strong international and cross-regional leadership experience.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Air Force Marks 25 Years of Tejas Light Combat Aircraft’s Historic Maiden Flight

• The Indian Air Force (IAF) marked the 25th anniversary of the historic maiden flight of the indigenously developed Tejas Light Combat Aircraft (LCA), showcasing India’s progress in aerospace self-reliance.
• The LCA Programme was launched in 1983 by the Government of India (GoI) to develop an indigenous light combat aircraft to replace the ageing and obsolete fighter fleet of the IAF.
• The historic maiden flight of Tejas LCA took place on 4 January 2001, flown by Wing Commander Rajiv Kothiyal in Technology Demonstrator-1 (TD-1) from HAL Airport, Bengaluru, Karnataka.
• The successful flight trials initiated extensive evaluation and testing, leading to the induction of Tejas into the IAF and paving the way for advanced variants, including Tejas Mk-1A.
• In late 2025, Hindustan Aeronautics Limited (HAL) secured a major contract for 97 additional Tejas Mk-1A fighter jets, valued at over ₹62,370 crore, significantly boosting India’s defence manufacturing ecosystem.
• In May 2025, VEM Technologies delivered the first centre fuselage assembly of Tejas Mk-1A to HAL in Hyderabad, Telangana, marking a milestone in private sector participation.
• The second centre fuselage assembly for Tejas Mk-1A was handed over to HAL in September 2025, strengthening indigenous supply chains and production capacity.

Indian Army Inks ₹293 Crore Emergency Deal with NIBE for Suryastra Rocket Launcher System

• Indian Army (IA) under the Ministry of Defence (MoD) signed an Emergency Procurement (EP) contract worth ₹293 crore with NIBE Limited for procurement of the Suryastra rocket launcher system.
• The acquisition aims to enhance long-range precision strike capability and strengthen the artillery modernisation programme of the Indian Army.

Key Highlights :

• Suryastra is India’s first indigenously developed, multi-calibre, long-range, precision-guided rocket launcher system, designed to boost deep-strike artillery capabilities.
• The system is developed in collaboration with Israel’s Elbit Systems, adapted from the Israeli Precise & Universal Launching System (PULS) technology.
• It is a universal multi-calibre launcher capable of firing guided rockets and loitering munitions from a single wheeled platform.
• The system can strike targets at ranges of 150–300 km with very high accuracy (Circular Error Probable (CEP) < 5 meters (m)).
• It employs high-mobility ‘shoot-and-scoot’ tactics, enhancing survivability by reducing exposure to enemy counter-battery fire.
• The Precise and Universal Launching System(PULS)-based launcher is compatible with short- and long-range guided rockets and large-calibre precision rockets, functioning as a multi-role firepower platform.
• The launcher is mounted on a BEML High Mobility Vehicle (HMV) 6×6 truck, providing rapid deployment, high tactical mobility, strong off-road performance, and high payload capacity across diverse terrains.
• The induction of Suryastra supports the Government of India (GoI) initiatives of Make in India and Aatmanirbhar Bharat.
• The Emergency Procurement (EP) mechanism allows quick acquisition of critical equipment by bypassing lengthy procedures to meet urgent operational requirements.
• Under EP provisions, contracts generally have a cost limit of about ₹300 crore with fast delivery timelines of 6–12 months.
• The EP framework aims to rapidly bridge capability gaps during security emergencies while ensuring basic oversight and accountability.

Indian Army Launches ‘Bhairav’ Modern Warfare Force with Large-Scale Drone Integration

• Indian Army (IA) announced the creation of a modern warfare force named ‘Bhairav’, aimed at enhancing combat capabilities through large-scale drone integration and creation of a pool of over 1 lakh trained drone operatives.
• Bhairav units are being trained to handle the complexities of modern warfare, with a strong focus on advanced drone-based operations.
• The Bhairav battalions are fully trained in the use of drones for real-time targeting of enemy bases and formations during operations.
• These battalions have been raised as a high-speed offensive force, capable of executing Special Forces–type tasking at multiple operational levels.
• The primary aim of Bhairav battalions is to bridge the gap between Para Special Forces (SF) and regular Infantry units, enabling special operations from tactical to operational depth.
• At present, the Indian Army has raised about 15 Bhairav battalions, which are deployed across various formations along both borders.
• The IA plans to raise around 25 additional Bhairav battalions in the near future to further strengthen modern combat readiness.
• The Bhairav battalions will make their first public appearance at the Indian Army Day Parade in Jaipur, Rajasthan on January 15, 2026.
• As part of broader modern warfare restructuring, the Indian Army has also created ‘Rudra Brigades’, which are all-arms formations integrating infantry, mechanised units, tanks, artillery, Special Forces, and Unmanned Aerial Systems (UASs).

About Indian Army (IA) :

• Headquarters: New Delhi, Delhi
• Established: 1895
• Chief of the Army Staff (COAS): General Upendra Dwivedi.
• Motto: Seva Paramo Dharma (Service Before Self).

CURRENT AFFAIRS : PERSON IN NEWS

Siddaramaiah Becomes Karnataka’s Longest-Serving Chief Minister, Surpassing D. Devaraj Urs

• Siddaramaiah became the longest-serving Chief Minister of Karnataka on January 7, 2026, completing over seven years and eight months (2,793+ days) in office across two non-consecutive terms, surpassing his mentor Devaraj Urs.
• Born in Siddaramanahundi village near Narasipura to a farming family, Siddaramaiah trained as a lawyer and briefly taught at Vidyavardhaka Law College, Mysuru.
• He won his first electoral seat in 1983 from Chamundeshwari as an Independent candidate, marking his early influence in the Old Mysuru region.
• Over a 40-year political career, he contested 13 elections and secured 8 victories (recently reaching 9 wins by 2026).
• Siddaramaiah’s early career was outside the Congress party, rising through the Janata Party and Janata Dal, holding key roles like President of Kannada Surveillance Committee and head of Kannada Development Authority.
• As a minister under CM Ramakrishna Hegde, he managed portfolios including Transport, Animal Husbandry, and Sericulture.
• He joined the Congress in 2006 and emerged as a social justice leader representing the AHINDA coalition of minorities, backward classes, and Dalits.
• Siddaramaiah is the first Chief Minister from the Kuruba community and consolidated social coalitions into lasting political support.
• He has presented 16 state budgets, the highest by any Karnataka Chief Minister, and served twice as Leader of the Opposition.
• He describes his tenure as a privilege, inspired by Basavanna, Nalvadi Krishnaraja Wodeyar, and Devaraj Urs, emphasizing social justice and service to the poor, Dalits, and backward communities.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Dr. Jitendra Singh Inaugurates NSEL and National Primary Standard Facility for Solar Cell Calibration at CSIR-NPL on 80th Foundation Day

• Union Minister of State (MoS) IC Dr. Jitendra Singh, Ministry of Science and Technology, inaugurated the National Environmental Standard Laboratory (NSEL) and the National Primary Standard Facility for Solar Cell Calibration at CSIR-NPL, New Delhi, during its 80th Foundation Day (held in January 2026).
• NSEL is Asia’s first and the world’s second pollution monitoring facility, designed to test, calibrate, and certify air pollution monitoring devices, reducing reliance on foreign agencies.
• The laboratory ensures accurate and transparent environmental data, supporting programs like the National Clean Air Programme (NCAP) and aiding regulators, industries, and startups in compliance.
• Testing capabilities include the Continuous Ambient Air Quality Monitoring System (CAAQMS) and Online Continuous Emission Monitoring Systems (OCEMS) for reliable performance verification.
• For particulate matter (PM) testing, only Germany has a comparable facility worldwide.
• CAAQMS measures ambient air quality continuously in cities and industrial areas, while OCEMS monitors pollutants from industrial stacks in real-time.
• The National Primary Standard Facility for Solar Cell Calibration was developed in collaboration with PTB, Germany, using Laser-based Differential Spectral Responsivity (L-DSR)
• The solar calibration facility achieves the world’s lowest calibration uncertainty (0.35%), reduces dependence on foreign certification, saves foreign exchange, and enhances investor confidence in India’s solar sector.
• Only four other laboratories are recognized under the World Photovoltaic Scale (WPV): NREL (USA), PTB (Germany), AIST (Japan), and TIPS (China).
• During the event, 14 Phytochemical Bharatiya Nirdeshak Dravya (BNDs) (developed with CSIR-CIMAP), 2 Gas BNDs, and 1 Silica Fume BND were released to strengthen India’s quality and measurement standards.
• Several MoUs and technology transfer agreements were signed to promote indigenous manufacturing and support startups and MSMEs.

About CSIR-NPL :

• It is India’s premier metrology institute, responsible for maintaining national standards of measurements, ensuring accuracy, uniformity, and traceability across India.
• Established : 1947.
• Headquarters : New Delhi
• Director : Professor Venu Gopal Achanta

CURRENT AFFAIRS : ENVIRONMENT

Mizoram University Scientists Discover New Reed Snake Species Calamaria mizoramensis in Mizoram

• Scientists from Mizoram University, in collaboration with researchers from Russia, Germany, and Vietnam, discovered a new reed snake species, named Calamaria mizoramensis, in Mizoram.
• The discovery was published in the international scientific journal Zootaxa, adding credibility and global recognition to the finding.
• The discovery adds a new species to India’s reptile fauna, increases the global Calamaria species count to 70, and updates Mizoram’s herpetofauna to 169 species.
• The species was identified by correcting a long-standing taxonomic misidentification of specimens first collected in 2008, confirming the Mizoram population as a distinct evolutionary lineage.
• Calamaria mizoramensis is a small, non-venomous reed snake, dark brown to blackish in colour with faint stripes and a yellow underside.
• The snake is nocturnal and semi-fossorial, spending much of its time underground or under leaf litter.
• Its natural habitat includes humid, forested hill regions at elevations ranging from 670 to 1,295 metres above sea level.
• The species has been confirmed from multiple locations in Mizoram, including Aizawl, Reiek, Sihphir, Sawlêng, Mamit, and Kolasib.
• Based on its wide distribution across several localities, the species is tentatively assessed as ‘Least Concern’ under IUCN criteria.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India-Bhutan Judicial Exchange MoU

• The Supreme Court of India has signed a Memorandum of Understanding (MoU) with Bhutan to exchange young legal professionals.
• Chief Justice of India Surya Kant welcomed two law clerks from Bhutan to work in the Supreme Court, marking closer judicial cooperation.
• Under the MoU, two Bhutanese law clerks will work in the Supreme Court of India for a tenure of three months.
• The clerks will receive the same honorarium as Indian law clerks, and travel expenses will be borne by the Supreme Court of India.
• The agreement follows former CJI B R Gavai’s visit to Bhutan in October 2025, during which both countries agreed to deepen judicial ties, focusing on technology integration and capacity building.
• The initiative aims to strengthen judicial diplomacy, provide Bhutanese judiciary exposure to India’s legal system, and enhance regional cooperation under India’s Neighbourhood First policy.

CURRENT AFFAIRS : OBITUARIES

Former World Billiards Champion and National Coach Manoj Kothari Passed away at 67

• Former World Billiards Champion Manoj Kothari, a legendary figure in Indian cue sports and the Chief National Coach, passed away at the age of 67 in Tirunelveli, Tamil Nadu.

About Manoj Kothari:

• He was a two-time World Billiards Champion, winning his first IBSF World Billiards Championship title in 1990, establishing himself among the global elite.
• In 1997, he won the World Doubles Billiards Championship with Ian Williamson (England), highlighting his longevity and versatility at the highest level.
• In recognition of his exceptional contribution to sports, he was awarded the Major Dhyan Chand Award (2005), India’s highest lifetime achievement award in sports, by the Government of India.
• After retiring from active competition, he served as the National Coach of the Indian Billiards Team from 2011, guiding players for over 15 years.
• During his illustrious career, he won the State Championship title 16 times, reflecting his domestic dominance.
• In 2025, he received a Lifetime Achievement Award from the International Billiards & Snooker Federation (IBSF).
• He was also honoured with the Kriraguru Samman by West Bengal and a Lifetime Achievement Award by the Calcutta Sports Journalists Club, recognising his enduring impact on Indian billiards.

Senior Indian National Congress Leader and Former Railways MoS Suresh Kalmadi Passed Away at 81 in Pune

• Senior Indian National Congress (INC) leader Suresh Kalmadi, former Union Minister of State (MoS), Ministry of Railways (MoR), passed away at the age of 81 in Pune, Maharashtra.

About Suresh Kalmadi :

• He was born on May 1, 1944, in Madras (now Chennai, Tamil Nadu) during British India.
• He served as a pilot in the Indian Air Force (IAF) from 1964 to 1974, before entering public life and politics.
• His political career began in 1977 as President of the Pune-based Indian Youth Congress (IYC).
• In 1982, he became a member of the Rajya Sabha and went on to serve three additional terms in the Upper House of Parliament.
• He was elected to the Lok Sabha in 1996 and represented the Pune constituency several times as a Member of Parliament (MP).
• He served as Minister of State (MoS), Ministry of Railways, from 1995 to 1996.
• He served as President of the Indian Olympic Association (IOA) from 1996 to 2012 and was appointed Life President in 2016.
• He played a key role in Indian sports administration, including overseeing selection trials for the 1980 Moscow Olympics as President of the Maharashtra Athletics Association (MAA).
• He served as Chairman of the Organising Committee (OC) of the 2010 Commonwealth Games (CWG).
• He was President of the Asian Athletics Association (AAA) from 2000 to 2013 and later became its Life President, reflecting his long-standing influence in international athletics administration.

CURRENT AFFAIRS: IMPORTANT DAYS

African National Congress (ANC) Foundation Day 2026

• African National Congress Foundation Day is observed on 8th January every year.
• The ANC was founded on 8th January 1912 in Bloemfontein, originally named South African Native National Congress (SANNC).
• The organisation aimed to defend the rights and freedoms of black South Africans and unite Africans as one people.
• ANC played a key role in granting full voting rights to Black and Multiracial South Africans.
• The party was instrumental in abolishing the apartheid regime, which was enforced by the National Party after 1948.
• The foundation of ANC marked a turning point in African history, initiating the end of exploitation and subjugation on the continent.

Daily CA One- Liner: January 8

• Prasar Bharati has initiated efforts to resume live radio programmes in the Thadou language from All India Radio Imphal, halted during Manipur’s ethnic violence in 2023
• The Ministry of Information and Broadcasting announced the winners of four creative challenges under the Badalta Bharat Mera Anubhav campaign, organised in collaboration with MyGov
• Union Education Minister Shri Dharmendra Pradhan will release 55 literary works developed by Centres of Excellence for Classical Kannada, Telugu, Malayalam, and Odia, along with Tirukkural books and a sign language series in New Delhi
• India’s traditional healthcare system AYUSH has been formally recognised in bilateral trade agreements with Oman and New Zealand, finalized in December 2025.
• In January 2025, the Government of India approved NBS rates for the Rabi 2025–26 season, effective from 1 October 2025 to 31 March 2026, covering Phosphatic and Potassic (P&K) fertilizers, including DAP and multiple NPKS grades.
• India’s first hydrogen-powered train is set to operate in Haryana.
• Department of Economic Affairs (DEA) has operationalised a major Union Budget 2025–26 announcement by creating a three-year Public Private Partnership (PPP) project pipeline
• The Union Government has relaxed funding norms to support deep-tech startups, allowing them to receive up to ₹1 crore financial assistance from the Department of Scientific and Industrial Research
• Chief Minister M.K. Stalin announced the Tamil Nadu Assured Pension Scheme (TAPS) guaranteeing 50% of last drawn monthly salary as pension for state government employees and teachers
• Union Minister of Fisheries, Animal Husbandry and Dairying Rajiv Ranjan Singh, along with Union Coal & Mines Minister G. Kishan Reddy, inaugurated India’s largest integrated inland Rainbow Trout farm in Ranga Reddy district, Telangana
• The Supreme Court of India has signed a Memorandum of Understanding (MoU) with Bhutan to exchange young legal professionals.
• The Insolvency and Bankruptcy Board of India (IBBI) has introduced revised electronic forms for the liquidation process, effective January 2026, to simplify compliance and improve the quality of regulatory filings.
• IDFC FIRST Bank launched the ‘Zero-Forex Diamond Reserve Credit Card’, a premium credit card designed for frequent international travellers, offering zero foreign exchange (Forex) markup along with travel and lifestyle benefits.
• India Ratings and Research (Ind-Ra), a wholly-owned subsidiary of the Fitch Group, projected India’s Gross Domestic Product (GDP) growth at 6.9% in FY27, lower than the estimated 7.4% growth in FY26.
• Financial Software and Systems (FSS),a payment solutions and transaction processing company, has become the first payments company in India, the Middle East (ME), Asia-Pacific (APAC), and South Africa (SA) to receive the International Organization for Standardization (ISO)/ International Electrotechnical Commission (IEC) 42001 (ISO/IEC 42001) Certification.
• The Oil and Natural Gas Corporation (ONGC), under the Ministry of Petroleum and Natural Gas (MoPNG), partnered with Mitsui OSK Lines (MOL) of Japan to enter the ethane shipping business through two Joint Ventures (JVs).
• HSBC Private Bank appointed Ida Liu as its new Chief Executive Officer (CEO), effective from January 05, 2026.
• The Indian Air Force (IAF) marked the 25th anniversary of the historic maiden flight of the indigenously developed Tejas Light Combat Aircraft (LCA), showcasing India’s progress in aerospace self-reliance.
• Indian Army (IA) under the Ministry of Defence (MoD) signed an Emergency Procurement (EP) contract worth ₹293 crore with NIBE Limited for procurement of the Suryastra rocket launcher system.
• Indian Army (IA) announced the creation of a modern warfare force named ‘Bhairav’, aimed at enhancing combat capabilities through large-scale drone integration and creation of a pool of over 1 lakh trained drone operatives.
• Siddaramaiah became the longest-serving Chief Minister of Karnataka on January 7, 2026, completing over seven years and eight months (2,793+ days) in office across two non-consecutive terms, surpassing his mentor Devaraj Urs.
• Union Minister of State (MoS) IC Dr. Jitendra Singh, Ministry of Science and Technology, inaugurated the National Environmental Standard Laboratory (NSEL) and the National Primary Standard Facility for Solar Cell Calibration at CSIR-NPL, New Delhi, during its 80th Foundation Day (held in January 2026).
• Scientists from Mizoram University, in collaboration with researchers from Russia, Germany, and Vietnam, discovered a new reed snake species, named Calamaria mizoramensis, in Mizoram.
• Former World Billiards Champion Manoj Kothari, a legendary figure in Indian cue sports and the Chief National Coach, passed away at the age of 67 in Tirunelveli, Tamil Nadu.
• Senior Indian National Congress (INC) leader Suresh Kalmadi, former Union Minister of State (MoS), Ministry of Railways (MoR), passed away at the age of 81 in Pune, Maharashtra.
• African National Congress Foundation Day is observed on 8th January every year