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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

NCAER report says boosting skills and small enterprise productivity can significantly expand employment in India

• A study titled “India’s Employment Prospects: Pathways to Jobs” was released on 11 December 2025 by NCAER Vice Chairman Manish Sabharwal.
• The report, authored by Professor Farzana Afridi and her team at NCAER, highlights the role of skilling and small enterprises as key drivers of job creation in India.

Key Highlights :

• The study states that India’s rise in employment is primarily due to self-employment, while the transition to a skilled workforce remains slow.
• The report recommends strengthening labour-intensive manufacturing and services to sustain GDP growth of around 8%, aligning with Viksit Bharat
• India is on track to become the 3rd largest economy, but its per capita GDP ranks 128th, signalling the need for inclusive growth and employment expansion.
• According to the report, enterprises using digital technologies hire 78% more workers, and even a 1% increase in credit access raises hired workers by 45%.
• The report highlights that India’s workforce requires major upskilling due to new technologies and AI adoption, with medium-skilled jobs dominating the current employment growth.
• Increasing the skilled workforce by 12 percentage points through formal skilling could lead to a 13% rise in employment in labour-intensive sectors by 2030.
• Under simulation models, increasing the skilled workforce by 9 percentage points could generate 9.3 million new jobs by 2030.
• The report stresses the importance of sectoral prioritisation, identifying strong job potential in textiles, garments, trade, hotels, and related services.
• It projects a 53% job increase in textile, garments, and related manufacturing, and 79% more jobs in trade, hotel, and related services by 2030, under moderate growth conditions.
• The study recommends targeted interventions such as reorienting PLI schemes towards labour-intensive sectors like textiles, garments, footwear, and food processing.
• For services, the report calls for enhanced policy support in tourism, education, and health, which have high potential for inclusive job creation.

Asian Development Bank Ups India’s FY26 Growth Projection to 7.2%

• The Asian Development Bank (ADB) released the Asian Development Outlook (ADO) December 2025 titled “Growth Steadies But Uncertainty Lingers”, updating economic projections for India and developing Asia.

Key Highlights :

• ADB raised India’s GDP growth forecast for FY26 to 7.2% (up by 70 bps from 6.5%), citing strong domestic consumption boosted by recent tax cuts and GST reforms.
• India recorded GDP growth of 8.2% in Q2 FY26, the highest in six quarters, compared to 7.8% in Q1, reflecting robust recovery momentum.
• Despite the FY26 upgrade, ADB retained India’s GDP growth projection for FY27 at 6.5%, showing stable long-term expectations.
• ADB revised India’s inflation outlook downward to 2.6% for FY26 (earlier 3.1%) due to GST reductions, easing food price inflation, strong agricultural output, and favourable weather conditions.
• Inflation in India is projected to rise to 4.2% in FY27, aligning closer to the RBI’s inflation target, reflecting normalising price trends.
• The Reserve Bank of India (RBI) also increased its FY26 GDP growth estimate to 7.3%, up from 6.8%, after strong economic performance during July–September.
• For developing Asia, ADB upgraded the CY25 growth forecast by 30 bps to 5.1%, up from 4.8% projected in ADO September 2025.
• ADB also raised the CY26 growth outlook for developing Asia by 10 bps to 4.6%, signalling sustained regional recovery.
• Inflation in developing Asia is expected to fall to 1.6% in CY25, down from 1.7%, mainly due to lower food inflation in India.
• The CY26 inflation forecast for developing Asia remains unchanged at 2.1%, indicating stable price expectations.

About Asian Development Bank (ADB) :

• Established : 1966
• Headquarters : Manila, Philippines
• Members Nations : 69 member countries, including 49 from the Asia-Pacific region
• President : Masato Kanda (Japan).

IndusInd Bank Partners with Jio-bp to Launch Mobility+ Card Offering Fuel and Lifestyle Benefits

• IndusInd Bank and Jio-bp have launched the ‘IndusInd Bank Jio-bp Mobility+ Credit Card’, a co-branded fuel and lifestyle credit card on the RuPay network.
• This is IndusInd Bank’s first fuel-centric credit card and Jio-bp’s first co-branded card, designed for digitally savvy consumers.
• The card enables UPI-based credit card payments, offering ease of payments on UPI platforms.
• Customers can earn up to 60 litres of free fuel annually through the rewards programme.
• The card provides 4.25% value back on fuel purchases at Jio-bp Mobility Stations, enhancing benefits for frequent vehicle users.
• Users earn Smiles reward points on fuel, dining, groceries, convenience store purchases, and Wildbean Café
• The card offers additional perks such as a 1% fuel surcharge waiver, 24×7 roadside assistance, and monthly/annual milestone rewards.
• It carries a joining fee of ₹499 + GST, which is waived if the customer spends ₹10,000 within the first 30 days.
• The foreign currency markup on international usage is 3.5%.

About IndusInd Bank Limited :

• Established : April 1994 and promoted by the Hinduja Group
• Headquarters : Mumbai, Maharashtra
• CEO : Rajiv Anand

Ageas Federal Life Insurance Launches New Brand Identity with Refreshed Logo and “Har Wada Mumkin” Promise

• Ageas Federal Life Insurance unveiled a new brand identity, introducing a refreshed logo and the brand promise “Har Wada Mumkin – Promises Made Possible.”
• The new logo features two arcs symbolising protection and guidance, with orange and violet colours representing optimism and trust.
• MD & CEO Jude Gomes launched the rebranding in Mumbai along with brand ambassador Sachin Tendulkar.
• Ageas Federal Life Insurance is a joint venture between Belgium-based Ageas and Federal Bank.
• The rebranding reflects the company’s commitment to simplifying insurance and making financial protection more accessible across India.
• Financial Performance: Ageas Federal ranks fourth in solvency among private life insurers with a 270% solvency ratio as of March 2025.
• The company achieved 13% year-on-year growth in Individual Annual Premium Equivalent for the period ending October 30, 2025, outpacing the industry’s projected 9% growth.
• It maintained a 100% Individual Claim Settlement Ratio for FY25, demonstrating strong operational performance.

Amazon to Invest Over $35 Billion in India Across All Business Verticals by 2030

• Amazon announced an investment of over USD 35 billion in India by 2030 during the Amazon Smbhav Summit in New Delhi, covering all business verticals.
• The investment focuses on AI-driven digitisation, export growth, job creation, and business expansion, aligned with India’s national priorities.
• Amazon signed an MoU with Gati Shakti Vishwavidyalaya (GSV) under the Ministry of Railways (MoR) to collaborate on education, research, and skill development.
• Amazon aims to democratise AI access for 14 million small businesses and provide AI education to 4 million government school students.
• Amazon plans to create 1 million new jobs, contributing to a total of 3.8 million jobs generated in India.
• A new programme, ‘Accelerate Exports’, was launched to boost export-led growth by connecting digital entrepreneurs with manufacturers.
• Amazon will expand logistics, data, and digital infrastructure, and strengthen AI-enabled marketplace and shopping features.
• Since 2010, Amazon has invested USD 40 billion, digitised 12 million small businesses, enabled USD 20 billion in exports, and supported 2.8 million jobs in India.
• Under the MoU, Amazon will co-develop courses on AI, automation, and logistics, and support research in transportation, digital freight, drone operations, and sustainable mobility.
• An Amazon Chair Professorship at GSV has been created to promote advanced research in warehousing and data-driven decision-making.

About Gati Shakti Vishwavidyalaya (GSV):

• GSV, a Central University established in 2022, headquartered in Vadodara, Gujarat, offers programs in transportation engineering, logistics, supply chain, rail systems, aviation, port management, data analytics, AI, and multimodal transport planning.
• Chancellor of GSV : Ashwini Vaishnaw, Union Minister, Ministry of Railways.

SalarySe and City Union Bank Launch India’s First Credit Card Exclusively for Salaried Individuals

• SalarySe partnered with City Union Bank (CUB) to launch India’s first salary-exclusive credit card, the Level Up RuPay Credit Card, designed specifically for salaried individuals.
• The card is powered by the RuPay Credit Card on UPI framework, supporting the RBI’s push for a cashless economy.
• The card introduces a first-of-its-kind “Salary Day Bonus” offering up to 37.5% rewards on spending made on salary credit days.
• The Level Up Card rewards routine spending such as UPI payments, bill payments, online shopping, and in-store purchases.
• It leverages NPCI’s Credit on UPI system, enabling secure and transparent revolving credit through daily UPI transactions without separate loan applications.
• Launched in Chennai, the product is tailored around the spending behaviour of working professionals, replacing traditional travel- or luxury-focused benefits.
• Employer-linked salary verification backs the card issuance, promoting disciplined borrowing and controlled credit exposure.
• Users can apply for the card and access curated financial services through the SalarySe mobile app.

AU Small Finance Bank Gets Government Nod to Increase Foreign Investment Limit to 74%

• The Ministry of Finance approved raising the foreign investment limit in AU Small Finance Bank (AU SFB) from 49% to 74%, the maximum permissible under Indian regulations.
• The Ministry clarified that AU SFB must obtain prior approval before any increase in Foreign Direct Investment (FDI).
• As of 30 September 2025, Foreign Portfolio Investors (FPIs) held 34.49% of the bank’s shares, while the bank currently has no FDI.
• AU SFB received in-principle approval from RBI on 7 August to transition from a Small Finance Bank to a Universal Bank.
• The increased 74% foreign investment limit will provide greater headroom for foreign capital inflows as per the Consolidated FDI Policy.
• Before conversion to a universal bank, promoter holding will be routed through a NOFHC (Non-Operating Financial Holding Company) structure, with 18 months allotted for the transition.
• Promoter and promoter group currently hold 22.82% stake in the bank.

About AU Small Finance Bank :

• Founded : 1996
• Managing Director & CEO : Sanjay Agarwal

CURRENT AFFAIRS : INTERNATIONAL NEWS

Convention on International Trade in Endangered Species of Wild Flora and Fauna CoP20: Global South Leads Major Reforms in Global Wildlife Trade Governance

• The 20th Conference of the Parties (CoP20) to Convention on International Trade in Endangered Species of Wild Flora and Fauna (CITES) was held from 24 November to 5 December 2025 (12-day long meeting) at the Silkroad Samarkand Expo Center, Uzbekistan, marking the 50th Anniversary of the convention.
• Member states adopted 353 decisions, conducted 46 rounds of voting, and reviewed 50 listing proposals, resulting in 77 species being added to CITES Appendices.
• The Global South played an instrumental role in shaping global wildlife trade policies during CoP20, particularly through coordinated positions by African and Latin American nations.
• The event was hosted by the National Committee on Ecology and Climate Change, Uzbekistan, in partnership with the United Nations Development Programme (UNDP).

Key Highlights :

Key Changes in CITES Appendix Status

• New Appendix-I Additions include oceanic whitetip shark, whale shark, and all manta and devil rays, granting them the highest protection level under CITES, which prohibits international commercial trade.
• Ecuador’s proposal to include all three Galapagos land iguana species in Appendix-I was adopted.
• Galapagos marine iguana was uplisted from Appendix-II to Appendix-I following Ecuador’s successful proposal.
• Cameroon secured the uplisting of Home’s hinge-back tortoise from Appendix-II to Appendix-I.
• Kazakhstan’s saiga antelope and South Africa’s bontebok were downlisted to Appendix-II due to improved conservation conditions, allowing for strictly controlled trade under certain circumstances.
• Mexico successfully downlisted the Guadalupe fur seal and Parlatore’s podocarp from Appendix-I to Appendix-II after measurable recovery.

Other Major Highlights

• India successfully opposed the EU proposal to list guggul (Commiphora wightii) under Appendix-II, protecting domestic trade interests.
• Parties approved a 6.98% budget increase for 2026–28, following a joint proposal by Brazil, Senegal, and Mexico, to support the CITES Secretariat’s work programme.

About CITES

• Established: 1973
• Secretary-General: Ivonne Higuero
• Headquarters: Geneva, Switzerland
• Member States: 185 (including 184 countries + European Union)

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Government Launches “Your Money, Your Right” Campaign to Help Citizens Reclaim Unclaimed Financial Assets

• The Government of India launched the nationwide initiative “आपकी पूँजी, आपका अधिकार — Your Money, Your Right” to help citizens reclaim unclaimed financial assets such as unclaimed bank deposits, insurance proceeds, dividends, shares, mutual funds, and pension amounts that remained inactive due to dormancy or lack of awareness.
• The campaign follows the 3A Framework — Awareness, Accessibility and Action, ensuring citizens can easily locate and claim their rightful money.
• The three-month nationwide drive (October–December 2025) aims to:
  • Raise awareness about unclaimed assets
  • Improve accessibility through digital tools and district-level outreach
  • Enable action by assisting citizens in filing claims quickly and accurately
• The initiative reflects the government’s focus on financial inclusion, transparency, and protection of citizens’ wealth.
• The campaign is being implemented across all States and Union Territories with broad national participation.
• Between October and 5 December 2025, camps were held in 477 districts with participation from public representatives, district administrations, and officials from financial institutions.
• On-ground arrangements included digital demonstrations, helpdesks, guided support for filing claims, and awareness materials in major regional languages along with Standard Operating Procedures (SOPs), Frequently Asked Questions (FAQs), and video messages.
• The campaign ensures citizens from even remote areas can access and claim their unclaimed funds.
• All major financial regulators are collaborating in this initiative:
  • Reserve Bank of India (RBI)
  • Securities and Exchange Board of India (SEBI)
  • Insurance Regulatory and Development Authority of India (IRDAI)
  • Pension Fund Regulatory and Development Authority (PFRDA)
  • Investor Education and Protection Fund Authority (IEPFA)
• Integrated digital platforms helping citizens track and claim unclaimed assets include:
  • RBI’s UDGAM Portal for unclaimed bank deposits
  • IRDAI’s Bima Bharosa for unclaimed insurance proceeds
  • SEBI’s MITRA Platform for unclaimed mutual fund units, dividends, and related records
• These platforms use centralized databases for faster identification and seamless authentication of financial assets.
• According to Minister of State for Finance Shri Pankaj Chaudhary, nearly ₹2,000 crore worth of unclaimed financial assets have been settled and returned to rightful owners within the first two months of the campaign.
• This early outcome shows significant public response and strong progress toward reclaiming citizen-owned financial assets.

State-Level Watershed Mahotsav 2025 and Mission Watershed Punarutthan Launched in Nagaland

• State-Level Watershed Mahotsav 2025 and Mission Watershed Punarutthan were launched at Naga Solidarity Park, Kohima, focusing on natural water-source protection, soil health improvement, and community-led water management.
• The initiative emphasizes traditional water systems, encouraging community participation for long-term water security.
• Mission Watershed Punarutthan aims to make villages water-secure and environmentally strong by:
  • Reviving natural springs
  • Improving watershed structures
  • Increasing water availability in rural areas
• The mission promotes community involvement, where villagers actively participate in conserving water bodies. Support from schemes like Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) strengthens livelihood opportunities and rural water infrastructure.
• The Minister of State for Rural Development and Communications highlighted that water security is a national priority, praising Nagaland’s strong tradition of community-based conservation.
• The government emphasized the importance of restoring natural resources to address environmental sustainability and future climate-related challenges.
• Under Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) and watershed development programmes in Nagaland:
  • 14 watershed projects approved
  • ₹140 crore sanctioned, with ₹80 crore released
  • 555 water-harvesting structures repaired/strengthened
  • 120 natural springs revived
  • More than 6,500 farmers benefited
• North Eastern States receive 90% central assistance, enabling faster implementation and improved watershed outcomes.
• India has only 4% of global freshwater resources despite its large population, making initiatives like PMKSY essential for groundwater recharge, multi-crop support, soil moisture improvement, and climate-resilient rural development.

RECENT NEWS

• The 26th Hornbill Festival began on 1st December at the Naga Heritage Village in Kisama, Kohima, coinciding with Nagaland’s Statehood Day. This ten-day festival brings together all major Naga tribes to celebrate their rich traditions, music, dance, crafts, and local food.

About Nagaland:

• Chief Minister: Neiphiu Rio
• Governor: La. Ganesan
• Capital: Kohima
• National Parks: Intanki National Park
• Wildlife Sanctuaries: Fakim Wildlife Sanctuary, Puliebadze Wildlife Sanctuary, Rangapahar Wildlife Sanctuary

India Launches Steel-Cutting for Its First Fully Electric Green Tug

• Union Minister Sarbananda Sonowal virtually launched the steel-cutting ceremony for India’s first fully electric green tug, marking a major step toward clean and modern port operations.
• The tug is being developed for the Deendayal Port Authority (DPA), Kandla under the Green Tug Transition Programme (GTTP), supporting the vision of Make in India, green growth, and self-reliant maritime development.
• Key features of the all-electric green tug:
  • 60-ton bollard pull capacity
  • Zero carbon emissions
  • Quiet & smooth operations
  • High energy efficiency
  • Advanced navigation systems
• The tug will help reduce operational costs, cut emissions, and motivate other Indian ports to shift toward cleaner, greener technologies.
• Under the GTTP, the government aims to deploy 50 green tugs by 2030.
  • Phase 1 (2024–2027): 16 green tugs
  • DPA, Kandla is the first to begin construction
  • Other ports like Paradip, JNPA, and VOC Port have already issued work orders
• The tug is being built at Atreya Shipyard with support from Indian and global technology partners.
• It will be used for harbor operations, escort duties, and emergency response, improving port safety and efficiency.
• The initiative supports India’s climate commitments, aligns with Maritime India Vision 2030, and contributes to long-term goals set under Amrit Kaal.
• The launch marks a new era for sustainable Indian ports, strengthening India’s position in green maritime technology and promoting an environmentally friendly port ecosystem.

India’s First Hydrogen-Powered Train Ready

• Indian Railways has completed India’s first hydrogen-powered train, developed as a pilot model following RDSO standards, as announced by Railway Minister Ashwini Vaishnaw in the Lok Sabha.
• A dedicated hydrogen production plant is planned at Jind, where hydrogen will be generated through electrolysis, supporting smooth train operations and promoting clean, green fuel use.
• The Hydrogen Train-set is fully designed and developed in India, showcasing progress under Atmanirbhar Bharat and highlighting India’s capability in advanced rail technology.
• The train is the world’s longest and most powerful hydrogen train on broad gauge, consisting of:
  • 10 coaches
  • Total power: 2400 kW
  • Two Driving Power Cars of 1200 kW each
  • Eight passenger coaches
• The train produces zero carbon emissions, releasing only water vapour, making it highly eco-friendly and a major step toward reducing pollution from railway transport.
• The project marks the beginning of next-generation fuel technology in Indian Railways.
• The entire process — design, prototyping, and hydrogen traction development — has been done for the first time in India.
  Since it is a pilot project, its cost cannot be compared with regular train systems.
• The initiative reflects Indian Railways’ strong commitment to clean energy, promoting sustainable transport and paving the way for future adoption of alternative green fuels.

RECENT NEWS

• In a significant achievement for India’s freight transportation network, Indian Railways has crossed the 1 billion tonne mark in cumulative freight loading for FY 2025‑26. As of 19 November 2025, freight volumes reached approximately 1,020 million tonnes (MT). This milestone underscores the railways’ critical role in supporting India’s industrial and infrastructure growth, optimizing logistics, and advancing sustainability.

Government Measures to Address Global Logistics Disruptions & Boost Export Efficiency

• Global logistics disruptions have caused delays, higher costs, and supply chain issues affecting exporters; the Government is strengthening logistics infrastructure and simplifying export procedures.
• Credit Guarantee Scheme for Exporters (CGSE) launched to provide 100% credit guarantee via NCGTC for additional credit up to ₹20,000 crore, supporting MSMEs and enhancing liquidity for export operations under Aatmanirbhar Bharat.
• Export Promotion Mission (EPM) approved as a flagship initiative (Budget 2025–26) with an outlay of ₹25,060 crore (FY 2025-26 to 2030-31) to strengthen export competitiveness, especially for MSMEs, first-time exporters, and labour-intensive sectors, by creating a unified, outcome-based export promotion framework.
• Under the International Cooperation Scheme (MSME Ministry), reimbursement-based assistance is provided for:
  • Participation of MSMEs in international exhibitions, fairs, and conferences.
  • Costs for RCMC, export insurance premium, and testing & quality certification for first-time Micro & Small exporters.
  • MoUs signed with 21 EPCs, ECGC, and NSIC as implementing agencies.
• National Industrial Corridor Development Programme (NICDP) supports MSMEs through land allotment by state SPVs with investor-friendly relaxations such as early-bird discounts, flexible lease payments, and differential lease periods.
• MPEDA’s TDSVMP Scheme provides financial assistance to MSMEs for value-added seafood processing and technology upgrades to boost marine product exports.
• Bharat Trade Net (BTN) launched as a major digital public infrastructure to digitize 30 key trade documents, enable paperless global-standard trade operations, improve access to export finance, reduce compliance burdens, and integrate Indian trade systems with platforms like ULIP and RBI’s ULI.
• Grassroots export initiatives such as Districts as Export Hubs (DEH) and E-Commerce Export Hubs (ECEHs) enable MSMEs, start-ups, and artisans to access global markets through lower-cost, simplified processes.
• National Logistics Policy and PM Gati Shakti are improving multimodal connectivity, reducing logistics costs, and easing supply chain bottlenecks for exporters, especially MSMEs.
• ECGC Measures to Support MSME Exporters:
  • Collateral-Free Cover (from July 1, 2025) for MSE exporters under WT-ECIB for working capital limits up to ₹10 crore without additional premium.
  • Enhanced 90% cover for banks for export credit loans up to ₹50 crore (earlier ₹20 crore) from Oct 1, 2025, with no extra cost.
  • Enhanced 90% cover for MSME accounts with limits up to ₹80 crore, enabling banks to offer lower interest rates.
  • Up to 100% cover for exporters taking policies directly from ECGC, reducing collateral requirements for MSMEs.
  • Simplified claim settlement procedures for ST-ECIB claims up to ₹10 crore.
  • MoU with MSME Ministry for the CBFTE scheme, offering premium refund up to ₹10,000 annually to first-time MSE exporters with Small Exporter’s Policy.
• The Government promotes market diversification through the India-Africa Conclave, Joint Commission Meetings, and Joint Trade Committees to open opportunities in Africa, Latin America, and other emerging regions.
• ECGC has upgraded country ratings for 24 countries (Latin America, Africa, Middle East, East Asia, etc.) since Sept 2025 to reduce insurance costs and help exporters diversify from restrictive markets.
• Support for value-added traditional exports:
  • Spices Board’s SPICED Scheme for value addition, technology upgrades, quality assurance, global marketing, and incubation support for spice-sector SMEs and farmer groups.
  • Coir Vikas Yojana (CVY) by the Coir Board providing assistance for global exhibitions, quality certification, and training programmes in collaboration with institutions like DGFT, Customs, IIFT, NIFTEM, etc.
  • National Handloom Development Programme (NHDP) and Raw Material Supply Scheme support weavers with raw materials, infrastructure, design development, marketing, and MUDRA loans.
  • SFURTI Scheme provides 90% financial grants for cluster development through Common Facility Centres, Raw Material Banks, skill upgrades, and market-driven production models for traditional industries.
• These measures were detailed in a written reply by Minister of State for Commerce & Industry, Shri Jitin Prasada, in the Rajya Sabha.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Pakistan Names Field Marshal Asim Munir as Its First Chief of Defence Forces for a Five-Year Term

• Pakistan’s President Asif Ali Zardari approved the appointment of Field Marshal Asim Munir as the country’s first Chief of Defence Forces (CDF) for a five-year term.
• The CDF post was created through the 27th Constitutional Amendment, aimed at establishing unity of command and ensuring faster decision-making during critical situations.
• The new CDF role replaces the earlier position of Chairman, Joint Chiefs of Staff Committee (CJCSC), which has now been abolished.
• President Zardari granted a two-year service extension to Air Chief Marshal Zaheer Ahmad Babar Sidhu, effective from 19 March 2026.
• Asim Munir, who has served as Chief of Army Staff (COAS) since November 2022, had already received a five-year extension to his COAS tenure in 2024.

CURRENT AFFAIRS : ENVIRONMENT

Zoological Survey of India Reports Discovery of Two New Jumping Spiders in Meghalaya

• Zoological Survey of India (ZSI) scientists discovered two new jumping spider species—Asemonea dentis and Colyttus nongwar—in Meghalaya, highlighting the region’s importance as part of the Indo-Burma Biodiversity Hotspot.
• The findings were published in Zootaxa, a leading international animal taxonomy journal by Magnolia Press, Auckland (New Zealand).
• Both newly discovered species belong to the Salticidae family, known for stalking and pouncing rather than web-spinning.
• Asemonea dentis is only the third species of Asemonea genus reported in India.
• The name dentis (Latin: tooth) refers to a tooth-like projection on the male’s palpal femur, which is a key identification feature.
• Male Asemonea dentis are greenish-brown with a V-shaped pale-yellow abdominal mark, while females are creamy-white with black patterns.
• Colyttus nongwar is only the second Indian species of the Oriental genus Colyttus.
• The species Colyttus nongwar is named after Nongwar village in the Khasi Hills, where it was discovered.
• Both sexes of Colyttus nongwar have an oval reddish-brown carapace, a light-brown abdomen, a creamy band, and five chevron-shaped patches.
• Meghalaya has seen multiple recent spider discoveries, including Irura meghalaya (new species, May 2025) and India’s first record of Thiania abdominalis, showing that arachnid diversity in the region remains under-documented.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Navy Set to Induct Its First Indigenous Diving Support Craft ‘DSC A20’

• The Indian Navy will commission DSC A20 on 16 December 2025 at Kochi, under the Southern Naval Command, marking the induction of a major operational asset.
• Vice Admiral Sameer Saxena, Flag Officer Commanding-in-Chief, Southern Naval Command, will preside over the commissioning ceremony.

Key Highlights :

• DSC A20 is the first vessel of the indigenously designed and constructed Diving Support Craft (DSC)
• The vessel is built by M/s Titagarh Rail Systems Limited (TRSL), Kolkata, as the lead ship in a series of five DSCs.
• The craft is purpose-built for diving and underwater missions, enhancing India’s diving, inspection, and underwater support capability.
• It is equipped with advanced, state-of-the-art diving systems adhering to high safety and operational standards.
• The ship features a catamaran hull form, offering better stability, enhanced deck area, and improved seakeeping
• DSC A20 has an approximate displacement of 390 tons, ensuring robust operational capacity.
• The vessel is designed as per Naval Rules and Regulations of the Indian Register of Shipping (IRS) and underwent testing at NSTL, Visakhapatnam.
• The commissioning represents a milestone in Aatmanirbharta and showcases the success of ‘Make in India’ in the maritime sector.
• The platform reflects collaboration between the Indian Navy, indigenous shipbuilders, and national research organisations.
• DSC A20 will be based at Kochi and operate under the Southern Naval Command, strengthening roles such as diving support, underwater inspection, salvage assistance, and coastal deployment.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India Clears Abu Dhabi’s International Holding Company  to Acquire Stake in Sammaan Capital

• The Competition Commission of India (CCI) approved International Holding Company (IHC) of Abu Dhabi to acquire a stake in Sammaan Capital through its affiliate Avenir Investment RSC Limited.
• IHC had earlier announced a USD 1 billion (₹8,850 crore) investment to purchase a 46% stake in Sammaan Capital, an RBI-registered NBFC.
• The CCI also approved Schneider Electric SE acquiring a 35% stake each in Schneider Electric India Pvt Ltd (SEIPL) and Schneider Electric JV Holdings 2 Pte Ltd (SEJV2) from MacRitchie Investments Pte Ltd (an investment holding company of Temasek Holdings).
• Sammaan Capital is a non-deposit-taking NBFC, registered with the Reserve Bank of India (RBI), and is headquartered in Gurugram.

CURRENT AFFAIRS: AWARDS AND HONOURS

President Presents Shilp Guru & National Handicrafts Awards 2023–24

• President Droupadi Murmu presented the Shilp Guru Awards and National Handicrafts Awards for 2023 and 2024 at Vigyan Bhawan, New Delhi, during National Handicrafts Week 2025 (8–14 December).
• The event was organized by the Ministry of Textiles (MoT).
• Union Minister Giriraj Singh and MoS Pabitra Margherita attended the ceremony.
• About the Awards:
  • National Handicrafts Awards (est. 1965) honour skilled craftspersons for excellence in preserving India’s traditional crafts.
  • Shilp Guru Awards (est. 2002) are the highest national honour for master artisans in handicrafts.
  • A total of 48 awards were given for 2023–24: 12 Shilp Guru Awards, 36 National Awards, and 2 Design & Innovation Awards.
• Craft Forms Recognized:
  Metalwork, woodcraft, hand-printed textiles, pattachitra, leather puppetry, terracotta, stone carving, cane-and-bamboo work, carpets, and more.
• Shilp Guru Awardees 2023:
  • Ajit Kumar Das – Hand Painted Textiles (West Bengal)
  • Sudhir Kumar Maharana – Pattachitra Painting (Odisha)
  • D. Sivamma – Leather Puppets (Andhra Pradesh)
  • Dolon Kundu Mandal – Terracotta (West Bengal)
  • Khatri Gulamhusain Umar – Tie & Dye Textiles (Gujarat)
  • Madhuri Mishra – Batik Printing (Uttar Pradesh)
• Shilp Guru Awardees 2024:
  • Kamlesh Sharma – Wood Craft (Rajasthan)
  • Subhash Arora – Metal Craft/Dhokra (Haryana)
  • Shaheen Anjum – Wood Craft (Delhi)
  • Mohammad Dilshad – Wood Carving (Uttar Pradesh)
  • Tarit Paul – Clay Modelling (West Bengal)
  • Shobharani Poddar – Jute Craft (West Bengal)

About Ministry of Textiles:

• Union Minister: Giriraj Singh
• MoS: Pabitra Margherita
• Works to promote traditional crafts, protect artisans, and preserve India’s cultural heritage.

Alia Bhatt Receives Golden Globe Horizon Award at Red Sea International Film Festival

• Alia Bhatt was honoured with the Golden Globe Horizon Award at the 5th Red Sea International Film Festival in Saudi Arabia, recognising her remarkable journey and rising global influence in Indian cinema.
• The festival highlighted her achievements on Instagram, celebrating her along with Hend Sabry, and noting that the award honours the brightest creative talents of the Middle East and North Africa region.
• A special festival tribute showcased Alia’s evolution from newcomer to superstar, featuring major films such as:
  • Highway
  • Dear Zindagi
  • Gangubai Kathiawadi
  • Rocky Aur Rani Kii Prem Kahaani
  • Brahmastra
    The tribute highlighted her versatility, emotional depth, and success across genres including romance, drama, biopics, and commercial cinema.
• Alia also presented an exclusive first look at her upcoming action film Alpha, the first female-led film in the YRF Spy Universe.
  • Co-star: Sharvari
  • Special cameo: Hrithik Roshan
  • Earlier scheduled for Christmas 2025, Alpha will now release on 17 April 2026 due to extended VFX work.
• The YRF Spy Universe includes major films like Ek Tha Tiger, Tiger Zinda Hai, War, Pathaan, Tiger 3, and the upcoming War 2.
• The award further strengthens Alia Bhatt’s global presence, with her talent, diverse roles, and international appeal positioning her as a leading face of Indian cinema worldwide.

A’ja Wilson Named TIME’s Athlete of the Year 2025

• TIME magazine has honoured A’ja Wilson, superstar forward of the Las Vegas Aces, as the 2025 Athlete of the Year for delivering one of the most dominant and historic seasons in professional basketball history.
• Wilson led the Las Vegas Aces to their third WNBA Championship in four years, while collecting an unprecedented series of major individual awards.
• Her iconic parade outfit featuring a gold Thanos gauntlet symbolised the completeness of her achievements.
• Record-breaking achievements in 2025 include:
  • WNBA MVP (4th time)
  • Defensive Player of the Year (3rd time)
  • Finals MVP (2nd time)
  • WNBA Scoring Title
  • Fastest to reach 5,000 career points
  • 2025 WNBA Champion
    She became the first player in NBA or WNBA history to win a championship and simultaneously secure MVP, Finals MVP, DPOY, and the scoring title in the same season.
• Wilson’s rise began in South Carolina, where she overcame challenges including dyslexia and grew into the nation’s No. 1 high school recruit.
• At the University of South Carolina, under coach Dawn Staley, she led the Gamecocks to their first-ever national championship in 2017.
• During the Aces’ early struggles in 2025 — including a 53-point loss — Wilson’s leadership transformed the team.
• She introduced player-created scouting reports, accountability checklists, team bonding activities, and direct communication, helping rebuild discipline and chemistry.
• TIME recognised Wilson not only for her historic season but also for her cultural impact, influence on women’s sports, and her advocacy for representation, equity, and inclusion.
• Her impact now places her alongside transformative sporting icons like Michael Jordan, Serena Williams, and Muhammad Ali.

Leonardo DiCaprio Named TIME’s Entertainer of the Year 2025

• Leonardo DiCaprio has been honoured as TIME’s Entertainer of the Year 2025, recognising a career built on artistic risk-taking, emotional depth, and consistently powerful performances across three decades.
• Known for choosing challenging and complex roles, DiCaprio avoided easy commercial fame even in his early years, opting instead for layered characters seen in films like What’s Eating Gilbert Grape, The Aviator, The Wolf of Wall Street, The Revenant, and Killers of the Flower Moon.
• His 2025 accolade centres on his acclaimed performance as Bob Ferguson in Paul Thomas Anderson’s One Battle After Another.
  • The role showcased both comedic and dramatic range.
  • DiCaprio served as the emotional core of the film.
  • The film crossed $200 million worldwide, reaffirming his enduring box-office appeal.
  • TIME praised him as one of the last remaining “true movie stars”.

CURRENT AFFAIRS: RANKING AND REPORTS

World Inequality Report 2026 Highlights Deepening Income, Wealth, Gender & Climate Inequalities

• The World Inequality Report 2026 (3rd edition after 2018 and 2022), released by the World Inequality Lab and led by economists including Thomas Piketty, highlights rising income, wealth, gender, and climate inequalities across India and the world.
• The findings are crucial for inclusive growth, social justice, welfare economics, Sustainable Development Goals (SDGs), and climate equity.

Key Highlights

• India’s average annual income per capita is around 6,200 euros (Purchasing Power Parity) and average wealth is around 28,000 euros (Purchasing Power Parity).
• Income inequality in India shows that the top 10% capture 58% of national income, while the bottom 50% receive 15%, compared to 57% and 13% respectively in the 2022 Report.
• Wealth inequality in India reveals that the richest 10% hold 65% of total wealth, and the top 1% own 40% of India’s wealth.
• Globally, the top 0.001% (~60,000 ultra-rich) own three times the wealth of the bottom 50% of humanity. Their share increased from 4% (1995) to 6% (2025).
• The global top 10% own 75% of world wealth, while the bottom 50% own just 2%.
• The top 1% control 37% of global wealth, which is more than eighteen times that of the bottom half of the world’s population.
• Geographic inequality (1980–2025) shows that China has moved upward with most of its population entering the global middle segments, while India has lost relative position, with most of its population now falling in the bottom 50%.
• Sub-Saharan Africa remains concentrated in the lower half of the global distribution.
• Gender inequality findings show India’s female labour force participation at 15.7%, with persisting income gaps.
• Globally, excluding unpaid work, women earn 61% of what men earn per working hour; including unpaid labour, this falls to 32%.
• Women capture only 25% of global labour income, a share mostly unchanged since 1990.
• Regional shares include: Middle East and North Africa – 16%, South and Southeast Asia – 20%, Sub-Saharan Africa – 28%, East Asia – 34%, Europe and North America – about 40%.
• Climate inequality shows that the poorest 50% contribute only 3% of carbon emissions linked to private capital ownership, while the top 10% account for 77%.
• The wealthiest 1% contribute 41% of such emissions, nearly double the emissions of the entire bottom 90%.
• The report identifies structural reasons behind inequality including low female workforce participation, weak multilateralism on global redistribution, rise of ultra-wealth concentration, and weak taxation systems with loopholes for the ultra-rich.
• Key challenges and policy recommendations include strengthening progressive taxation, introducing wealth taxes, eliminating loopholes, and improving tax compliance.
• Addressing gender inequality by recognizing and reducing unpaid care work, enhancing skills, flexibility, and childcare facilities.
• Expanding redistributive social protection including cash transfers, pensions, and unemployment benefits to support vulnerable households.
• For climate inequality, the report calls for a climate justice framework, equitable sharing of emission responsibilities, and incentives for sustainable technologies and consumption patterns.
• Strengthening global multilateralism is required for coordinated taxation, climate action, and redistribution.

CURRENT AFFAIRS: SPORTS NEWS

FEI Asian Equestrian Championships 2025 Held in Pattaya, Thailand

• The second edition of the Fédération Equestre Internationale (FEI) Asian Equestrian Championships 2025 was held from 24 November to 7 December 2025 at the Thai Polo and Equestrian Club, Pattaya, Thailand, featuring 80+ riders from 13 countries competing in Jumping, Dressage, Eventing, Para Dressage, and Endurance.
• Organised by the Fédération Equestre Internationale, this was the second championship after 2019, conducted once every two years.
• Medal Tally (Top 5 Nations):
  • Thailand: 3 Gold, 0 Silver, 4 Bronze (Total 7)
  • Hong Kong: 0 Gold, 2 Silver, 5 Bronze (Total 7)
  • India: 1 Gold, 4 Silver, 0 Bronze (Total 5)
  • Singapore: 3 Gold, 2 Silver, 0 Bronze (Total 5)
  • China: 2 Gold, 0 Silver, 0 Bronze (Total 2)
• India’s Key Achievements:
  • Individual Gold: Ashish Limaye became the first Indian rider to win Eventing gold at the Asian Championships.
  • Team Silver: Team comprising Ashish Limaye, Shashank Singh Kataria, and Shashank Kanmuri.
  • Dressage Silver: Shruti Vora won three silver medals in Individual Dressage, Intermediate Freestyle–I, and Team Dressage (with Divyakriti Singh and Gaurav Pundir).
  • Indian contingent included six athletes, six grooms, two coaches, one veterinary doctor, and one farrier.
• Union Minister Dr. Mansukh Mandaviya, Ministry of Youth Affairs and Sports, felicitated the Indian equestrian team in New Delhi.

About the Fédération Equestre Internationale (FEI):

• • Founded: 1921
  • Headquarters: Lausanne, Switzerland
  • President: Ingmar De Vos
  • Role: Governs international equestrian sports including Jumping, Dressage, Eventing, Para Dressage, and Endurance.

India to Host the First-Ever Commonwealth Kho Kho Championship 2026

• India will host the first-ever Commonwealth Kho Kho Championship from 9–14 March 2026, marking a historic moment for the traditional Indian sport.
• Commonwealth Sports has officially approved India as the host nation, reflecting the growing global recognition of Kho Kho and its strong cultural roots in India.
• Over 24 Commonwealth countries from Asia, Africa, Europe, Oceania, and the Americas are expected to participate.
  • The Commonwealth comprises 56 independent nations with a combined population of 2.7 billion.
• The event follows the successful first Kho Kho World Cup held earlier in New Delhi, which saw participation from 23 nations (20 men’s teams and 19 women’s teams).
• For 2026, the Commonwealth Championship will feature 16 men’s teams and 16 women’s teams, with matches held simultaneously similar to the World Cup format.
• The Kho Kho Federation of India is finalizing the venue with various states. Ahmedabad is expected to benefit, especially as it prepares to host the centenary Commonwealth Games 2030.
• According to Upkar Singh Virk, the event could help Kho Kho move closer to inclusion in major international competitions such as:
  • Doha Asian Games 2030
  • Commonwealth Games 2030
  • Brisbane Olympics 2032

• Hosting this championship will significantly boost the global popularity of Kho Kho, promote India’s traditional sports, and inspire young athletes to pursue the game at an international level.

Daily CA One- Liner: December 13^th

• The Government of India launched the nationwide initiative “आपकी पूँजी, आपका अधिकार — Your Money, Your Right” to help citizens reclaim unclaimed financial assets such as unclaimed bank deposits, insurance proceeds, dividends, shares, mutual funds, and pension amounts that remained inactive due to dormancy or lack of awareness.
• State-Level Watershed Mahotsav 2025 and Mission Watershed Punarutthan were launched at Naga Solidarity Park, Kohima, focusing on natural water-source protection, soil health improvement, and community-led water management
• Union Minister Sarbananda Sonowal virtually launched the steel-cutting ceremony for India’s first fully electric green tug, marking a major step toward clean and modern port operations
• Indian Railways has completed India’s first hydrogen-powered train, developed as a pilot model following RDSO standards, as announced by Railway Minister Ashwini Vaishnaw in the Lok Sabha.

• A study titled “India’s Employment Prospects: Pathways to Jobs” was released on 11 December 2025 by NCAER Vice Chairman Manish Sabharwal.
• The Asian Development Bank (ADB) released the Asian Development Outlook (ADO) December 2025 titled “Growth Steadies But Uncertainty Lingers”, updating economic projections for India and developing Asia.
• IndusInd Bank and Jio-bp have launched the ‘IndusInd Bank Jio-bp Mobility+ Credit Card’, a co-branded fuel and lifestyle credit card on the RuPay network.
• Ageas Federal Life Insurance unveiled a new brand identity, introducing a refreshed logo and the brand promise “Har Wada Mumkin – Promises Made Possible.”
• Amazon announced an investment of over USD 35 billion in India by 2030 during the Amazon Smbhav Summit in New Delhi, covering all business verticals.
• SalarySe partnered with City Union Bank (CUB) to launch India’s first salary-exclusive credit card, the Level Up RuPay Credit Card, designed specifically for salaried individuals.
• The Ministry of Finance approved raising the foreign investment limit in AU Small Finance Bank (AU SFB) from 49% to 74%, the maximum permissible under Indian regulations.
• The 20th Conference of the Parties (CoP20) to Convention on International Trade in Endangered Species of Wild Flora and Fauna (CITES) was held from 24 November to 5 December 2025 (12-day long meeting) at the Silkroad Samarkand Expo Center, Uzbekistan, marking the 50th Anniversary of the convention.
• Pakistan’s President Asif Ali Zardari approved the appointment of Field Marshal Asim Munir as the country’s first Chief of Defence Forces (CDF) for a five-year term.
• Zoological Survey of India (ZSI) scientists discovered two new jumping spider species—Asemonea dentis and Colyttus nongwar—in Meghalaya, highlighting the region’s importance as part of the Indo-Burma Biodiversity Hotspot.
• The Competition Commission of India (CCI) approved International Holding Company (IHC) of Abu Dhabi to acquire a stake in Sammaan Capital through its affiliate Avenir Investment RSC Limited.

• The Indian Navy will commission DSC A20 on 16 December 2025 at Kochi, under the Southern Naval Command, marking the induction of a major operational asset.
• Global logistics disruptions have caused delays, higher costs, and supply chain issues affecting exporters; the Government is strengthening logistics infrastructure and simplifying export procedures
• President Droupadi Murmu presented the Shilp Guru Awards and National Handicrafts Awards for 2023 and 2024 at Vigyan Bhawan, New Delhi, during National Handicrafts Week 2025 (8–14 December).
• Alia Bhatt was honoured with the Golden Globe Horizon Award at the 5th Red Sea International Film Festival in Saudi Arabia, recognising her remarkable journey and rising global influence in Indian cinema
• TIME magazine has honoured A’ja Wilson, superstar forward of the Las Vegas Aces, as the 2025 Athlete of the Year for delivering one of the most dominant and historic seasons in professional basketball history.
• Leonardo DiCaprio has been honoured as TIME’s Entertainer of the Year 2025, recognising a career built on artistic risk-taking, emotional depth, and consistently powerful performances across three decades
• The World Inequality Report 2026 (3rd edition after 2018 and 2022), released by the World Inequality Lab and led by economists including Thomas Piketty, highlights rising income, wealth, gender, and climate inequalities across India and the world
• The second edition of the Fédération Equestre Internationale (FEI) Asian Equestrian Championships 2025 was held from 24 November to 7 December 2025 at the Thai Polo and Equestrian Club, Pattaya, Thailand, featuring 80+ riders from 13 countries competing in Jumping, Dressage, Eventing, Para Dressage, and Endurance
• India will host the first-ever Commonwealth Kho Kho Championship from 9–14 March 2026, marking a historic moment for the traditional Indian sport