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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Gives In-Principle Nod to Fino Payments Bank to Convert into a Small Finance Bank

• The Reserve Bank of India (RBI) has granted in-principle approval to Fino Payments Bank Limited (FPBL) to convert into a Small Finance Bank (SFB), making it the 1st Payment Bank in India to receive such approval.
• The approval was given after assessing its application under the ‘On-Tap’ Licensing Guidelines for Small Finance Banks, aimed at enhancing financial inclusion.

Key Highlights :

• As per RBI norms, only payments banks controlled by residents and operating for at least 5 years are eligible for SFB conversion, a criterion that Fino Payments Bank (operational since 2017) now meets.
• The conversion will allow Fino to accept larger deposits, offer credit facilities, and expand its customer base, including individuals and small enterprises.
• This approval follows the RBI’s decision to allow AU SFB to convert into a Universal Bank, while applications from Jana SFB and Ujjivan SFB remain pending or returned.
• With Fino’s conversion, only large payments banks such as Airtel Payments Bank, Jio Payments Bank, and India Post Payments Bank remain active, while Paytm Payments Bank is barred from new deposits and activities due to regulatory violations.
• After conversion, Fino will join 11 existing SFBs: AU, Equitas, Suryoday, Utkarsh, Jana, Unity, Capital, ESAF, Ujjivan, Shivalik, and Slice SFB.
• Fino received board-level approval in July 2023 to pursue this shift and applied formally for an SFB licence in December 2023.

Eligibility & Regulatory Norms for Conversion (PB → SFB) :

• Only resident individuals, resident-controlled companies, NBFCs, MFIs, LABs, and payments banks with 5 years of successful operations can promote or convert into an SFB, subject to RBI’s fit-and-proper criteria.
• Large industrial houses, government or public sector entities, AIFs, trusts, and shell banks are not eligible to promote SFBs, and applicable entities must follow corporate rules such as using an NOFHC (Non-Operative Financial Holding Company) when operating under a holding company.
• Every SFB must be registered as a Public Limited Company under the Companies Act, 2013, and licensed under Section 22 of the Banking Regulation Act, 1949.
• Minimum net worth requirement is ₹300 crore for an SFB; UCBs (Urban Co-operative Banks) may begin with ₹150 crore but must reach ₹300 crore within five years.
• Entities converting from NBFCs, MFIs, LABs, or Payments Banks must meet the ₹300 crore net worth benchmark either at licence issuance or within 18 months of receiving in-principle approval.
• SFBs must maintain a minimum Capital Adequacy Ratio (CAR) of 15%, with Tier I capital of at least 7.5% and Tier-II capital capped at 100% of Tier-I capital, in line with RBI’s Prudential Norms.
• Promoters must initially hold 40% of paid-up voting equity for the first five years, and this must be reduced to 26% within 15 years; UCB-converted SFBs start with 26% promoter holding.
• All promoters must report major shareholding changes and ensure listing of the SFB within eight years of commencing operations.
• SFBs must ensure at least 50% of their loan portfolio consists of loans up to ₹25 lakh, calculated borrower-wise.
• Every SFB must open at least 25% of its branches in unbanked rural centres, strengthening rural financial inclusion.
• Conversion of existing Fino PB branches into SFB branches must comply with the RBI (Small Finance Banks – Branch Authorisation) Directions, 2025.

About Fino Payments Bank Limited (FPBL)

• Established : 2017
• Managing Director & CEO : Rishi Gupta.
• Headquarters : Navi Mumbai, Maharashtra.

Banking Laws (Amendment) Act, 2025: Key Reforms to Strengthen Governance, Depositor Protection, and Audit Transparency

• The Banking Laws (Amendment) Act, 2025 is a legislative reform enacted to modernize and strengthen the legal, regulatory, and governance framework of the Indian banking sector.
• The related bill was passed by Lok Sabha in December 2024 and by Rajya Sabha in March 2025, with key provisions coming into force thereafter.
• The Act introduces a total of 19 amendments across five core banking legislations:
• the Reserve Bank of India Act, 1934
• the Banking Regulation Act, 1949
• the State Bank of India Act, 1955
• the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and 1980.
• The need for the Act arose from rising unclaimed deposits (necessitating a modernised nomination framework), the requirement for modern frameworks to support expanding financial inclusion, and the need for clarity and uniformity in banking operations.
• Key reforms were notified in two stages: Sections 3 to 5 and 15–20 in Stage 1 (August 1, 2025), and Sections 10 to 13 in Stage 2 (November 1, 2025).

Key Reforms and Amendments :

• Modernised Nomination Framework (Sections 10–13): Depositors can now nominate up to four persons for their bank accounts via either simultaneous nominations (allowing percentage-wise allocation) or successive nominations (ensuring seamless succession for articles in safe custody and safety lockers).
• Redefinition of ‘Substantial Interest’ (Section 3): The threshold for determining ‘substantial interest’ (a director's or officer's significant financial stake) was revised from ₹5 lakh (unchanged since 1968) to ₹2 crore, aligning with present-day economic realities.
• Governance in Co-operative Banks (Section 4 & 14): The maximum director tenure in cooperative banks was extended from 8 to 10 years (excluding the chairperson and whole-time directors), aligning with the 97th Constitutional Amendment Act, 2011.
• Audit Reforms in PSBs (Sections 15–20): Public Sector Banks (PSBs) are now empowered to determine and provide remuneration to statutory auditors, aiming to attract high-quality audit professionals and improve audit standards.
• Investor Protection & Fund Transparency: PSBs are permitted to transfer unclaimed shares, interests, and bond redemption amounts to the Investor Education and Protection Fund (IEPF), ensuring parity with the Companies Act, 2013
• Procedural Efficiency: Amendments related to operational definitions were revised, aligning reporting requirements that referred to "last Friday" or "alternate Fridays" to the last day of the month or the last day of the fortnight, as applicable.
• The Act’s impact is depositor-centric (simplified claim settlement), improves financial transparency (IEPF transfer), enhances audit quality (better remuneration for auditors), and improves operational efficiency (simplified procedures).
• The Banking Laws (Amendment) Act, 2025 represents a significant stride towards modernizing India’s financial architecture, reinforcing stability, transparency, and efficiency in the banking sector.

Life Insurance Corporation of India Joins Hands with Yes Bank for a Major Bancassurance Partnership

• The Life Insurance Corporation of India (LIC), India’s largest life insurance company, has entered into a strategic bancassurance partnership with Yes Bank Limited, a leading private sector bank.
• The partnership was formally announced in the presence of Doraiswamy, MD & CEO of LIC, and Prashant Kumar, MD & CEO of Yes Bank, along with senior officials from both organisations.
• The objective of this bancassurance partnership is to increase the accessibility of life insurance across India and support the national vision of ‘Insurance for All by 2047’.
• As part of the collaboration, Yes Bank customers will gain access to LIC’s comprehensive life insurance products through the bank’s extensive branch network and digital platforms.
• The partnership strengthens LIC’s distribution network and enhances Yes Bank’s product offerings, promoting wider financial inclusion.

Reserve Bank of India Issues Revised Gold Metal Loan Directions, Effective 1 April 2026

• The Reserve Bank of India (RBI) issued revised Gold Metal Loan (GML) Directions as part of updates to the regulatory framework for gold-related lending, effective 1 April 2026.
• The revised rules amend the Master Direction on Import of Goods and Services and the Gold Monetisation Scheme (GMS).

Key Highlights :

• Under the new framework, nominated banks importing gold can extend import-linked GML to entities engaged in jewellery manufacturing or sales for domestic or export markets.
• Non-manufacturer jewellers are also eligible to borrow if they outsource jewellery production to registered artisans, goldsmiths, or manufacturing units.
• Gold Metal Loans (GML) refer to loans provided by eligible banks to specified borrowers in the form of physical gold metal.
• The GML scheme was originally launched in 1998 under the Export-Import Policy 1997–2002 to support the working capital needs of the jewellery sector.
• Banks are permitted to set interest rates on GML based on the cost of procuring or holding gold, with repayment tenors aligned to FTP rules for exporters and up to 270 days for non-export borrowers.
• GML repayment will be in INR, but for GMS-linked GML, borrowers may optionally repay the principal in physical gold under specified conditions.
• Banks must submit quarterly GML reports to the RBI, with all revised provisions becoming effective from April 1, 2026.

Punjab National Bank Debuts Premium RuPay Metal Credit Card ‘Luxura’

• Punjab National Bank (PNB), India’s 2nd largest Public Sector Bank (PSB), has launched a premium RuPay credit card ‘Luxura’ in New Delhi to boost its presence in the high-value credit card segment.
• During the launch, PNB appointed Harmanpreet Kaur, Captain of the Indian Women’s Cricket Team, as its first female brand ambassador.
• The Luxura credit card is available for individuals in the age group of 21–70 years.
• The income eligibility requires salaried applicants to earn ₹2.5 lakh per month, while non-salaried applicants must have a minimum annual income of ₹30 lakh.
• PNB has fixed the credit limit for the Luxura card between ₹1 lakh and ₹5 lakh.
• Applicants must pay a joining fee of ₹9,000 (including GST) and an annual fee of ₹7,500 (including GST) to avail the Luxura card benefits.
• PNB also launched updates to its PNB One 2.0 mobile banking platform to improve digital banking services.
• The bank introduced a digital rooftop solar financing facility under Digi Surya Ghar to support renewable energy adoption.
• PNB joined the India International Bullion Exchange (IIBX) to enable online gold bullion transactions.

Reserve Bank of India Updates Large Exposure Framework and Interbank Exposure Framework Guidelines for Foreign Bank Branches in India

• The Reserve Bank of India (RBI) has issued revisions to the Large Exposure Framework (LEF) and the Interbank Exposure Framework (ITE) to clarify the prudential treatment for foreign bank branches operating in India.

Key Highlights :

• The LEF governs the maximum credit exposure a bank can have to a single counterparty or group, helping to mitigate concentration risk.
• The ITE framework regulates interbank exposures to maintain systemic stability within the banking sector.
• The amendments will be effective from April 1, 2026, although banks may adopt them earlier at their discretion.
• Chapter IV of the framework has been repealed with effect from January 1, 2026.
• Indian banks can now include accrued profit of the current financial year as part of Tier-1 capital when computing exposure limits under LEF.
• Indian branches of foreign G-SIBs (Globally Systemically Important Banks) will have a 20% exposure limit of the eligible capital base for exposures to their head office, overseas branches, or other G-SIBs, and a 25% limit for exposures to other banks.
• Conversely, Indian branches of foreign non-G-SIBs will follow the reverse ratio, with a 25% limit for exposures to their head office and other non-G-SIBs, and a 20% limit for exposures to G-SIBs.

Reserve Bank of India Mandates Free ATM/Debit Card Issuance and Renewal for All BSBD Account Holders

• The Reserve Bank of India (RBI) has amended the Responsible Business Conduct Directions, 2025, making it mandatory for banks to provide free ATM/ATM-cum-Debit card issuance and annual renewal to Basic Savings Bank Deposit (BSBD) account holders.

Key Highlights :

• Under the revised norms, banks must also offer compulsory mobile banking and internet banking facilities to all BSBD account holders.
• The amendments will be effective from April 1, 2026, or earlier if a bank voluntarily adopts them.
• Customers can request the conversion of an existing savings account into a BSBD account, and banks must complete this conversion within seven days, including through digital channels.
• As per the new rules, an individual cannot hold more than one BSBD account across banks, ensuring the financial inclusion objective is upheld.
• Banks are required to provide at least four free withdrawals per month for BSBD account holders, which include ATM withdrawals and transfer transactions.
• Digital payments such as UPI, NEFT, RTGS, IMPS, and PoS transactions will not be counted toward the four-withdrawal limit.
• BSBD customers will be issued a free ATM or ATM-cum-debit card, with zero annual charges, promoting low-cost banking access.
• Banks must provide a cheque book with a minimum of 25 free leaves per year, along with free account statements/passbooks in printed or email form.
• Through these amendments, the RBI aims to make BSBD accounts more attractive and affordable, especially since regular savings account holders currently pay ₹200–₹400 annually for ATM card services.

Department of Posts Opens Public Consultation on Proposed Post Office Act, 2023 Amendments

• The Department of Posts has issued a draft amendment to the Post Office Act, 2023 to introduce DHRUVA (Digital Hub for Reference and Unique Virtual Address) as a nationwide digital addressing system.

Key Highlights :

• DHRUVA aims to replace traditional textual addresses with UPI-like digital labels such as name@entity, acting as proxies for physical addresses.
• Users can share these digital address labels with e-commerce and gig-platforms, which can instantly access the user’s verified address and geo-coordinates through consent-based authorisation.
• The draft amendment enables the formation of a Section 8 Not-for-Profit Entity, similar to NPCI, to manage and oversee the DHRUVA ecosystem, with private participation remaining voluntary.
• The system is built on DIGIPIN, a 10-character alphanumeric geocode that uniquely represents a 14-square-metre area, offering 228 billion possible codes for precise address mapping.
• DIGIPIN is an open-source, nationwide geo-coded addressing system jointly developed by the Department of Posts, IIT Hyderabad, and NRSC, ISRO.
• DHRUVA forms the backbone of a Digital Address Digital Public Infrastructure (DPI) that ensures interoperable, standardised, and geo-coded digital address management.
• The platform introduces Address-as-a-Service (AaaS) to support secure and efficient address data management for users, government bodies, and private organisations.
• The AaaS framework ensures interoperability, standardisation, geolocation tagging, consent-based data sharing, and public-private integration.
• By treating digital addresses as core infrastructure similar to Aadhaar and UPI, DHRUVA enhances e-governance, online commerce, urban planning, and emergency response services.
• The policy emphasises a user-centric design, giving citizens full control over their digital address identity, including the ability to manage access, update details, and share verified addresses securely.
• The DHRUVA platform will offer multilingual support, mobile-first access, and integration with Aadhaar to improve usability and accessibility.
• DIGIPIN (National Addressing Grid) divides India into 4m x 4m grids, assigning each a unique 10-character code based on latitude and longitude.
• The DIGIPIN system, being publicly accessible, improves emergency response, logistics efficiency, delivery services, and overall citizen service delivery.

CURRENT AFFAIRS : INTERNATIONAL NEWS

World Meteorological Organization  Predicts 55% Chance of Weak La Niña Affecting Global Weather in Coming Three Months

• According to the World Meteorological Organization (WMO), there is a 55% chance that a weak La Niña will influence global weather patterns over the next three months.
• Although La Niña has a temporary cooling effect on global average temperatures, many regions are still forecast to be warmer than normal.

Key Highlights :

• La Niña is characterized by large-scale cooling of ocean surface temperatures in the central and eastern equatorial Pacific, combined with shifts in tropical atmospheric circulation, including changes in winds, pressure, and rainfall.
• As of mid-November, oceanic and atmospheric data indicated borderline La Niña conditions.
• The probability of meeting full La Niña thresholds between December 2025 and February 2026 is 55%, while for January–March and February–April 2026, the likelihood of returning to ENSO-neutral conditions is 65–75%.
• There is little chance of an El Niño forming during this period.
• Seasonal forecasts for El Niño and La Niña are essential planning tools for climate-sensitive sectors such as agriculture, energy, health, and transport, and they support humanitarian operations.
• The WMO emphasized that climate intelligence from these forecasts helps avert economic losses and save lives.
• National Meteorological and Hydrological Services will continue monitoring conditions to support decision-makers.
• La Niña occurs naturally but is unfolding against a backdrop of human-induced climate change, which is driving long-term warming and intensifying extreme events.
• The update projects above-normal temperatures across much of the Northern Hemisphere and large portions of the Southern Hemisphere from December to February, with rainfall patterns typical of a weak La Niña.

About World Meteorological Organization :

• Formation : 23 March 1950
• Headquarters : Geneva, Switzerland
• President : Abdulla Al Mandous, UAE
• Secretary-General : Celeste Saulo, Argentina
• Parent organization : United Nations Economic and Social Council

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Unveils Roadmap to Become Top-3 Quantum Economy by 2047

• NITI Aayog’s Frontier Tech Hub, in collaboration with International Business Machines (IBM), launched a national Quantum Technology Roadmap aiming to position India among the top three quantum economies by 2047.
• The roadmap focuses on developing indigenous quantum hardware and software capabilities, reducing dependence on imports and fostering the growth of globally competitive quantum companies and startups (at least 10 startups are expected to emerge from this initiative).
• The initiative supports India in capturing a strong share of the global quantum software and services market and deploying quantum technologies across key sectors such as defence, energy, healthcare, logistics, finance, and cybersecurity to boost national security and technological leadership.
• The roadmap aligns with the National Quantum Mission (NQM) approved by the Union Cabinet in April 2023, with a sanctioned budget of ₹6,003.65 crore for 2023–24 to 2030–31, aimed at advancing research and industrial growth in quantum computing, communication, sensing, materials, and devices.
• Under the NQM, the government will establish Thematic Research Hubs (T-Hubs), support start-ups, strengthen academia–industry collaboration, and build infrastructure for quantum innovation.
• The new roadmap builds on this mission with a focus on commercialisation and global competitiveness.
• The roadmap outlines priority areas including:
  • Research and infrastructure growth in quantum processors, qubits, communication networks, sensing, and materials
  • Talent development, quantum workforce training, and encouragement of quantum-focused start-ups
  • Large-scale adoption of quantum solutions across national sectors
  • Strong public-private partnerships involving industry, academia, investors, and government agencies
  • Regulatory and governance frameworks including quantum-safe cryptography and industry standards for secure deployment
• The initiative is also expected to offer strategic advantages in national security, cybersecurity, and defence communication systems, and enable breakthroughs in areas like drug discovery, diagnostics, material science, energy optimisation, and smart logistics.
• The roadmap strengthens India’s long-term vision under Digital India and Atmanirbhar Bharat, positioning the country as a future leader in emerging deep-tech sectors and global quantum markets.

RECENT NEWS

• NITI Aayog released a report titled Enhancing Competitiveness of MSMEs in India, in collaboration with the Institute for Competitiveness (IFC). The report provides a comprehensive analysis of India’s Micro, Small, and Medium Enterprises (MSMEs), identifying key challenges and presenting a set of systemic reforms aimed at boosting their competitiveness.

India to Host 20th Session of UNESCO Inter-Governmental Committee for Safeguarding Intangible Cultural Heritage

• India will host the 20th session of the Inter-governmental Committee for the Safeguarding of Intangible Cultural Heritage (ICH) from 8th to 13th December 2025 at the Red Fort, New Delhi.
• The event will bring together global representatives to review and evaluate nominations for the United Nations Educational, Scientific and Cultural Organization (UNESCO) Intangible Cultural Heritage Lists.
• India has officially nominated Diwali for inclusion in the UNESCO ICH list, highlighting its cultural, spiritual, and social significance as a festival celebrating the victory of light over darkness and good over evil.
• Intangible Cultural Heritage (ICH) includes community-based living traditions such as oral expressions, performing arts, rituals, festivals, and traditional craftsmanship, as defined under the 2003 UNESCO Convention for the Safeguarding of Intangible Cultural Heritage.
• The Red Fort, a UNESCO World Heritage Site, will serve as the venue, symbolically connecting India’s tangible and intangible heritage.
• The six-day session will focus on:
  • Evaluation of new nominations by member nations
  • Review of already listed intangible cultural elements
  • Policy discussions and international cooperation for safeguarding living heritage
• Diwali’s nomination has undergone evaluation by UNESCO assessment bodies and will be placed for final consideration during this session, with India expressing strong confidence in approval.
• India already has several cultural traditions inscribed under UNESCO ICH, including Yoga (2016), Kumbh Mela (2017), Ramlila (2008), Chhau Dance (2010), and Nowruz (2016 — multinational nomination).
• Hosting the session strengthens India’s cultural diplomacy and global leadership in heritage preservation while boosting tourism, global recognition of Indian traditions, and awareness among younger generations.
• The event reinforces India’s role as a custodian of cultural heritage and a key promoter of international cultural cooperation.

EARTH Summit 2025 Launched in Gandhinagar, Gujarat

• Shri Amit Shah, Union Minister of Home Affairs and Cooperation, inaugurated the EARTH Summit 2025 in Gandhinagar, Gujarat, and launched 13+ new services and products under the Sahakar Sarathi initiative to modernize the cooperative and rural banking sector.
• The EARTH Summit is a nationwide series focusing on challenges in agriculture, animal husbandry, cooperatives, and rural development.
  • This is the second edition, and the final summit will be held in Delhi in 2026 to finalize a policy framework.
• Sahakar Sarathi is a joint digital initiative of National Bank for Agriculture and Rural Development (NABARD) and the Ministry of Cooperation to enable digital banking systems for cooperative banks, similar to commercial banks.
• Under Sahakar Sarathi, cooperative banks will receive unified services such as:
  • Unified Payments Interface (UPI)
  • Aadhaar Enabled Payment System (AEPS)
  • Internet banking
  • Core banking system, loan origination, e-KYC, and real-time tracking
• Major Products/Services Launched (13+) include:
  • Digi Kisan Credit Card (Digi-KCC) – a fully digital Kisan Credit Card system
  • Campaign Sarathi and Website Sarathi – governance and outreach digital platforms
  • Cooperative Governance Index – first-of-its-kind index to assess governance standards in cooperative institutions
  • ePACS – a digital platform for Primary Agricultural Credit Societies (PACS)
  • World’s Largest Grain Storage Application – for grain monitoring and storage management
  • Shiksha Sarathi and Sarathi Technology Forum – for training and technology support
• The launched services also cover loan disbursal, documentation, compliance, appraisal, recovery, and digital data management.
• Two major new cooperative initiatives were also unveiled:
  • Sahakar Taxi – a cooperative-based taxi platform (pilot launched; 51,000+ drivers enrolled) to scale into India’s largest cooperative taxi service.
  • A cooperative insurance scheme covering life, health, agriculture, accident, and allied sectors, with a plan to appoint three youth per village as insurance ambassadors to support rural social security expansion.

RECENT NEWS

• In a key infrastructure move, the Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has approved two critical multitracking railway projects worth ₹2,781 crore. These projects aim to strengthen the Indian Railways network in Maharashtra and Gujarat, enhancing both passenger and freight capacity.

About Gujarat:

• Chief Minister: Bhupendra Patel
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

Donald Trump Receives First-Ever FIFA Peace Prize at 2026 FIFA World Cup Draw Ceremony

• Donald Trump received the first-ever FIFA Peace Prize during the 2026 Fédération Internationale de Football Association (FIFA) World Cup official draw the Kennedy Center, Washington, D.C.
• The award was presented by FIFA President Gianni Infantino to recognise what FIFA described as Trump’s “extraordinary actions to promote peace and unity around the world.”
• The FIFA Peace Prize is a newly launched honour aimed at recognising individuals contributing to peace and unity through sports and diplomacy. It includes a trophy, medal, and certificate.
• The prize selection is reportedly overseen by a new FIFA Social Responsibility Committee, whose membership has drawn scrutiny due to involvement of controversial figures.
• During his acceptance speech, Trump credited himself for attempting to resolve or de-escalate global tensions, including:
  • India–Pakistan standoff
  • Conflicts in Gaza, Congo, Israel–Iran
  • Armenia–Azerbaijan disputes
  • Thailand–Cambodia border tension
• Trump referred to the award as “one of the greatest honours of my life.”
• The award has triggered global controversy due to Trump’s:
  • Record of military strikes during his term
  • Polarising diplomatic approach
  • Critics arguing exaggerated or unclear involvement in claimed peace efforts
• Several of the conflicts cited remain unresolved or lack evidence of major diplomatic intervention by Trump, leading to further criticism and satire from global media.
• The decision has also raised concerns over the politicisation of international sports, especially after reports of strengthening ties between FIFA and Trump’s network, including Ivanka Trump’s association with a USD 100 million FIFA-linked education initiative.
• Supporters of Trump praised the award, while peace activists, diplomats, and international observers criticised the move, reviving debates around Trump’s long-standing pursuit of the Nobel Peace Prize.
• The development comes ahead of the 2026 FIFA World Cup, co-hosted by the United States, Canada, and Mexico, increasing public scrutiny of FIFA’s political positioning and global governance decisions.

CURRENT AFFAIRS: RANKING AND REPORTS

Google India Search Trends 2025

• In 2025, online search behaviour in India showed major interest in sports, artificial intelligence (AI), entertainment, and cultural events.
• Cricket dominated the top search list, with Indian Premier League (IPL) ranked first. Other major cricket-related searches included Asia Cup, International Cricket Council (ICC) Champions Trophy, and the Women’s World Cup.
• The Pro Kabaddi League ranked fifth, indicating rising popularity of other sports beyond cricket.
• Artificial Intelligence (AI) was a major search category in India. Gemini ranked second overall, reflecting increased public interest in AI-based platforms and tools.
• The top searched AI topics included:
  • Gemini
  • Gemini Artificial Intelligence Photo
  • Grok
  • DeepSeek
  • Perplexity
  • Google Artificial Intelligence Studio
  • ChatGPT
  • ChatGPT Ghibli Art
  • Flow
  • Ghibli Style Image Generator
• General trending themes of 2025 included:
  • Gemini Trend
  • Ghibli Trend
  • 3D Model Trend
  • Gemini Saree Trend
• Movies continued to be widely searched, with top film searches including:
  • Saiyaara
  • Kantara: A Legend Chapter 1
  • Coolie
  • War 2
  • Sanam Teri Kasam
• Popular television and web series searches included:
  • Squid Game
  • Panchayat
  • Bigg Boss
  • The Bads of Bollywood
  • Paatal Lok
• Cultural topics and notable personalities such as Maha Kumbh Mela, Saiyaara, and Dharmendra also featured among the most searched queries.

• This trend analysis highlights that sports remain India's top search priority, followed by a sharp rise in interest in Artificial Intelligence technologies, while entertainment and cultural queries continue to hold strong relevance among Indian internet users.

UBS Billionaire Ambitions Report 2025 Highlights Record Global Wealth Transfer

• The UBS Billionaire Ambitions Report 2025 revealed that the world is witnessing the largest billionaire wealth transfer on record, marking a major shift in global wealth patterns.
• In the 12 months up to April 2025, 91 individuals became billionaires by inheritance, receiving a combined USD 298 billion, representing an increase of over one-third compared to 2024.
• This is the highest wealth transfer recorded since UBS began tracking billionaire data in 2015.
• UBS stated that this surge is part of a long-term trend. An estimated USD 5.9 trillion is expected to shift to billionaire heirs globally over the next 15 years, driven by the ageing of the first wave of billionaires who built their wealth in the late 20th century.
• The United States continues to remain the leading country in billionaire inheritance, followed by major contributors such as India, France, Germany, and Switzerland.
• The report noted a significant rise in mobility among billionaire heirs, who increasingly relocate based on tax benefits, political stability, infrastructure, healthcare quality, and lifestyle factors.
• Countries attracting the highest inflow of billionaire wealth include:
  • Switzerland
  • United Arab Emirates (UAE)
  • United States
  • Singapore
• The report also highlighted key implications of this wealth shift, raising questions around:
  • Future investment patterns and asset preservation
  • The role of next-generation billionaires in philanthropy, governance, and corporate leadership
  • The ability of governments to design effective taxation systems without prompting capital flight
• For emerging economies such as India, this shift creates both opportunities and challenges:
  • Potential rise in innovation and entrepreneurship led by second-generation billionaire business leaders
  • Risk of greater wealth concentration and inequality if not supported by balanced and progressive economic policies

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

National Rifle Association of India Re-Elects Kalikesh Narayan Singh Deo as President for 2025–29

• Kalikesh Narayan Singh Deo has been re-elected as President of the National Rifle Association of India (NRAI) for the first full four-year term (2025–2029), succeeding Raninder Singh.
• The election was conducted during the NRAI General Body meeting at Park Plaza Hotel, Mohali (Punjab), under the supervision of Justice (Retd.) Nirmaljit Kaur.
• Pawan Singh, a noted administrator and technical expert, was elected unopposed as the Secretary General of NRAI, replacing Kanwar Sultan Singh, who has become Vice President (VP).

About Kalikesh Narayan Singh Deo :

• Kalikesh Narayan Singh Deo has been leading the NRAI since April 2023 when he took charge as Acting President.
• He was previously elected as NRAI President on 21 September 2024 for a one-year term.
• He served as Deputy Chef de Mission (Shooting) for Paris Olympics 2024, demonstrating his involvement in international sports management.
• He earlier served as Senior Vice President of NRAI since 2017, highlighting his long administrative experience in shooting sports.
• The new NRAI Executive Committee consists of 15 members, elected for the upcoming term.
• Amit Sanghi from Telangana was elected as Senior Vice President through a competitive electoral process.
• Kanwar Sultan Singh and Sushma Singh have been appointed as Vice Presidents of NRAI.
• The sportsperson members of the Executive Committee include Gagan Narang, Kunti Malik, Zorawar Singh Sandhu, and Elavenil Valarivan.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Eastern Command Team Achieves First Ascent of Mount Kangto, Arunachal Pradesh’s Highest Peak

• An 18-member Indian Army (IA) Eastern Command (EC) mountaineering team successfully summited Mount Kangto, Arunachal Pradesh’s highest peak (7,042 metres / 23,103 feet), marking the first-ever recorded ascent of this previously unconquered peak in the Kameng Himalayas, Arunachal Pradesh.
• The mission was flagged off by the General Officer Commanding, Gajraj Corps, and flagged in by Lieutenant General Ram Chander Tiwari, IA Commander, Eastern Command, who commended the team’s courage and professionalism.
• The team undertook a gruelling trek across rugged Himalayan terrain, facing rarefied air, sub-zero temperatures, icy ridgelines, deep crevasses, and near-vertical ice walls.
• The expedition reflected the Indian Army’s grit, discipline, teamwork, and indomitable spirit, showcasing its commitment to operational excellence and human endurance.
• The achievement embodied the IA’s motto: “Nothing is impossible for the Indian Army.”
• Mount Kangto is strategically located on the India-China border in West Kameng district, Arunachal Pradesh, symbolizing the Army’s high-altitude operational mastery.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Zaggle Acquires Fintech Startup Rio.Money in a ₹22 Crore Deal

• Zaggle, a Hyderabad-based fintech specializing in spend management, has acquired Rivpe Technology Private. Limited. (Rio.Money) for ₹22 crore.
• Zaggle will further invest ₹75 crore in Rio.Money in multiple tranches to enhance its product capabilities and customer offerings.
• The acquisition allows Zaggle to issue RuPay-powered credit cards and offer credit lines on UPI, strengthening its position in credit-based payment solutions.
• Money, founded in 2023 by Riya Bhattacharya and Vivek Amarnani, provides EMI-based credit payments via UPI using QR codes, enabled through the Yes Bank–Rio RuPay Co-branded Credit Card launched in November 2024.
• In June,2025 Zaggle had acquired Dice and GreenEdge for ₹150 crore, showcasing an aggressive expansion strategy in enterprise spend and loyalty solutions.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Department of Biotechnology and BIRAC Renew Partnership with CEPI for Vaccine and Technology R&D

• The Department of Biotechnology (DBT) under the Ministry of Science and Technology (MoS&T), along with Biotechnology Industry Research Assistance Council (BIRAC), has renewed its ‘Engagement Strategy’ with the Coalition for Epidemic Preparedness Innovations (CEPI) for cooperation in vaccine and allied technology R&D.
• The renewal agreement was formally signed on 18 September 2025, continuing the partnership established in October 2019 for an initial period of 5 years.
• Since 2019, DBT-BIRAC and CEPI have collaborated to promote vaccines for epidemic-prone diseases such as Chikungunya, Coronavirus, and Monkeypox (M-pox).
• Two Indian facilities—the DBT-BIRAC-THSTI Biosafety Laboratory and Experimental Animal Facility—have been recognised by CEPI and supported vaccine development from pre-clinical to Phase-3 trials.
• Multiple training programmes on vaccine development have been conducted, enhancing India’s expertise and capacity in vaccine R&D.
• The expanded engagement strategy now covers pathogens listed on the WHO Blueprint Priority Diseases and includes monoclonal antibodies (mAbs), lab-made proteins that mimic the immune system to target specific cells and antigens.

CURRENT AFFAIRS : OBITUARIES

Simone Tata, ex-Lakmé Chairperson and mother of Noel Tata, Passed away at age 95 in Mumbai

• Simone Tata, former Chairperson of Lakmé and mother of Noel Tata, passed away at 95 in Mumbai, Maharashtra.
• She was born in Geneva, Switzerland on 2 March 1930 and later married Naval Hormusji Tata in 1955, settling in Mumbai.
• She joined Lakmé in 1961 as Director, when it was a small subsidiary of Tata Oil Mills Company (TOMCO).
• She transformed Lakmé into India’s leading cosmetics brand by expanding its product line and strengthening market presence.
• She became Chairperson of Lakmé in 1982, and in 1996, Lakmé was sold to Hindustan Unilever Limited (HUL).
• She reinvested the sale proceeds to establish Trent Limited, under which she launched Westside in 1998.
• She contributed significantly to philanthropy, supporting institutions like the Sir Ratan Tata Institute.
• She was popularly known as the “Cosmetic Czarina of India” and the “Doyen of India’s Beauty Industry.”

CURRENT AFFAIRS: SPORTS NEWS

Cristiano Ronaldo Partners with Perplexity Artificial Intelligence as Investor and Brand Ambassador

• The football legend Cristiano Ronaldo announced his partnership with Perplexity Artificial Intelligence, joining the company as both an investor and brand ambassador.
• As part of the collaboration, Ronaldo launched a personalized Artificial Intelligence feature called the “Ronaldo Hub”, designed for fans to explore his football journey through curated content and interactive tools.
• The Ronaldo Hub allows users to:
  • View exclusive, private photos from Ronaldo’s archive
  • Ask Artificial Intelligence-generated questions about his personal and professional journey
  • Relive iconic moments, including famous goals
  • Access detailed timelines of his achievements and milestones
• This marks one of the first major integrations of celebrity-driven personalised Artificial Intelligence, setting an example for athlete–technology partnerships.
• Perplexity is an Artificial Intelligence-powered search and assistant platform offering multimodal responses, voice interaction, and real-time verified results. It positions itself as a competitor to ChatGPT and Google Gemini.
• With Ronaldo’s global reach of over 650 million social media followers, the partnership is expected to help Perplexity expand in regions such as Latin America, Asia, and the Middle East, where Ronaldo has a massive fan base and Artificial Intelligence usage is rapidly evolving.
• The collaboration supports:
  • Perplexity’s goal of increasing global Artificial Intelligence adoption and brand visibility
  • Ronaldo’s interest in technology investment, digital innovation, and enhanced fan engagement

Rohit Sharma Becomes the Fourth Indian to Cross 20,000 International Runs

• In a high-stakes One Day International (ODI) series decider against South Africa in Visakhapatnam, Rohit Sharma achieved a major milestone by crossing 20,000 international runs.
• He reached the landmark with a push for a couple runs, completing it when he scored his 27th run of the innings while chasing 271 runs, making the moment more significant as it came in a series-deciding match and not a dead rubber.
• Yashasvi Jaiswal scored his maiden ODI century in the same match, and together with Rohit, provided India a strong start toward sealing the series.
• Rohit Sharma is now the 14th cricketer in the world and the 4th Indian to cross 20,000 international runs.
• Top Indian players with 20,000+ international runs:
  • Sachin Tendulkar – 34,357 runs
  • Virat Kohli – 27,910 runs
  • Rahul Dravid – 24,064 runs
  • Rohit Sharma – 20,048 runs (as of the 3rd ODI vs South Africa 2025)
• Rohit’s overall statistics include:
  • Matches: Over 500 international caps
  • Innings: 538
  • Average: Above 42
  • Centuries: 50
  • Fifty-plus scores: 111
• Out of his total runs, nearly 11,500 runs have come in ODIs, where he is also India’s third-highest run-scorer in the format.
• Rohit made his international debut in 2007 and initially played in the middle order before becoming an opener in 2013, a turning point that led to extraordinary consistency.
• Known for his elegant batting style, he has scored three ODI double centuries, holds several records in white-ball cricket, and has been pivotal in India’s ICC campaigns, including the 2013 ICC Champions Trophy and the 2019 ICC Cricket World Cup.
• As of 2025, Rohit Sharma has retired from Test cricket and Twenty20 Internationals (T20Is) but continues to remain a key figure in India’s One Day International (ODI) setup.
• Nicknamed the “Elegant Assassin”, Rohit is widely celebrated for his effortless stroke play, powerful six-hitting ability, and adaptable batting approach across formats.
• With 500+ international appearances and now 20,000+ international runs, Rohit Sharma has solidified his place among the greatest cricketers in Indian and world cricket history.

CURRENT AFFAIRS: IMPORTANT DAYS

International Anti-Corruption Day 2025 Observed on 9 December

• International Anti-Corruption Day 2025 is observed annually on 9 December to promote awareness about the negative impacts of corruption on governance, society, and national development.
• The observance highlights how corruption affects key sectors such as health, education, justice, democracy, and economic development, leading to inequality, weakened institutions, and reduced public trust.
• Corruption has existed since ancient times, and some of the earliest recorded references to anti-corruption practices appear in:
  • The Code of Hammurabi (Babylonia)
  • The Great Edict of Horemheb (Egypt)
  • Arthashastra (India)
• The modern concept of public welfare and public interest began emerging strongly in the 19th century, leading policymakers and reformers worldwide to view corruption not just as unethical behaviour but as a serious barrier to societal progress.
• Bribery and corrupt practices led to officials compromising quality of work, ethics, accountability, and service delivery, gradually affecting all levels of society and contributing to institutional decay and public distrust.

Daily CA One- Liner: December 9

• The Reserve Bank of India (RBI) has granted in-principle approval to Fino Payments Bank Limited (FPBL) to convert into a Small Finance Bank (SFB), making it the 1st Payment Bank in India to receive such approval.
• The Banking Laws (Amendment) Act, 2025 is a legislative reform enacted to modernize and strengthen the legal, regulatory, and governance framework of the Indian banking sector.
• The Life Insurance Corporation of India (LIC), India’s largest life insurance company, has entered into a strategic bancassurance partnership with Yes Bank Limited, a leading private sector bank.
• The Reserve Bank of India (RBI) issued revised Gold Metal Loan (GML) Directions as part of updates to the regulatory framework for gold-related lending, effective 1 April 2026.
• Punjab National Bank (PNB), India’s 2nd largest Public Sector Bank (PSB), has launched a premium RuPay credit card ‘Luxura’ in New Delhi to boost its presence in the high-value credit card segment.
• The Reserve Bank of India (RBI) has issued revisions to the Large Exposure Framework (LEF) and the Interbank Exposure Framework (ITE) to clarify the prudential treatment for foreign bank branches operating in India.
• The Reserve Bank of India (RBI) has amended the Responsible Business Conduct Directions, 2025, making it mandatory for banks to provide free ATM/ATM-cum-Debit card issuance and annual renewal to Basic Savings Bank Deposit (BSBD) account holders.
• The Department of Posts has issued a draft amendment to the Post Office Act, 2023 to introduce DHRUVA (Digital Hub for Reference and Unique Virtual Address) as a nationwide digital addressing system.
• According to the World Meteorological Organization (WMO), there is a 55% chance that a weak La Niña will influence global weather patterns over the next three months.
• Kalikesh Narayan Singh Deo has been re-elected as President of the National Rifle Association of India (NRAI) for the first full four-year term (2025–2029), succeeding Raninder Singh.
• An 18-member Indian Army (IA) Eastern Command (EC) mountaineering team successfully summited Mount Kangto, Arunachal Pradesh’s highest peak (7,042 metres / 23,103 feet), marking the first-ever recorded ascent of this previously unconquered peak in the Kameng Himalayas, Arunachal Pradesh.
• Zaggle, a Hyderabad-based fintech specializing in spend management, has acquired Rivpe Technology Private. Limited. (Rio.Money) for ₹22 crore.
• The Department of Biotechnology (DBT) under the Ministry of Science and Technology (MoS&T), along with Biotechnology Industry Research Assistance Council (BIRAC), has renewed its ‘Engagement Strategy’ with the Coalition for Epidemic Preparedness Innovations (CEPI) for cooperation in vaccine and allied technology R&D.
• Simone Tata, former Chairperson of Lakmé and mother of Noel Tata, passed away at 95 in Mumbai, Maharashtra.

• NITI Aayog’s Frontier Tech Hub, in collaboration with International Business Machines (IBM), launched a national Quantum Technology Roadmap aiming to position India among the top three quantum economies by 2047
• India will host the 20th session of the Inter-governmental Committee for the Safeguarding of Intangible Cultural Heritage (ICH) from 8th to 13th December 2025 at the Red Fort, New Delhi
• Shri Amit Shah, Union Minister of Home Affairs and Cooperation, inaugurated the EARTH Summit 2025 in Gandhinagar, Gujarat, and launched 13+ new services and products under the Sahakar Sarathi initiative to modernize the cooperative and rural banking sector
• Donald Trump received the first-ever FIFA Peace Prize during the 2026 Fédération Internationale de Football Association (FIFA) World Cup official draw the Kennedy Center, Washington, D.C.

• In 2025, online search behaviour in India showed major interest in sports, artificial intelligence (AI), entertainment, and cultural events.

• The UBS Billionaire Ambitions Report 2025 revealed that the world is witnessing the largest billionaire wealth transfer on record, marking a major shift in global wealth patterns
• The football legend Cristiano Ronaldo announced his partnership with Perplexity Artificial Intelligence, joining the company as both an investor and brand ambassador
• In a high-stakes One Day International (ODI) series decider against South Africa in Visakhapatnam, Rohit Sharma achieved a major milestone by crossing 20,000 international runs
• International Anti-Corruption Day 2025 is observed annually on 9 December to promote awareness about the negative impacts of corruption on governance, society, and national development