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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Central Board of Indirect Taxes & Customs Secretary Surjit Bhujabal Launches ICEGATE–LPMS Integration at Agartala ICP, Enhancing Customs Digitisation

• Surjit Bhujabal, Special Secretary & Member (Customs),Central Board of Indirect Taxes & Customs (CBIC), under the Ministry of Finance (MoF), inaugurated the Indian Customs Electronic Gateway – Land Port Management System (ICEGATE – LPMS) integration at the Integrated Check Post (ICP), Agartala, Tripura.
• The ICEGATE–LPMS integration enables real-time, two-way digital data exchange between the ICEGATE and the LPMS.
• The system covers key customs processes and documents, including Bill of Entry, Shipping Bill, Out of Charge (OOC), Let Export Order (LEO), and cargo movement updates such as slot booking, gate-in, and gate-out.
• The integration supports coordinated and data-driven border management, helping to reduce transaction costs, improve compliance, and ensure targeted risk-based checks.
• By minimizing disruption to legitimate cross-border trade, the initiative enhances efficiency and transparency at land ports.
• The project reflects strong collaboration between CBIC and the Land Ports Authority of India (LPAI).
• The ICEGATE–LPMS integration is a key step towards making India’s trade and border infrastructure future-ready, digitally streamlined, and technology-driven.

Tripura Gramin Bank Becomes India’s First Regional Rural Bank to Launch Fully Solar-Powered Mobile ATM Van ‘TGB on Wheels’

• Tripura Gramin Bank (TGB) created a national milestone by becoming the 1st Regional Rural Bank (RRB) in India to introduce India’s first fully solar-powered mobile Automatic Teller Machine (ATM) van, named ‘TGB on Wheels’.
• The initiative represents a significant step towards sustainable, eco-friendly, and inclusive banking services, particularly benefiting rural and remote areas of the country.
• The pioneering ATM Van initiative of TGB was formally inaugurated in July 2023 by Union Finance Minister Nirmala Sitharaman under the Ministry of Finance (MoF) during her visit to Tripura.
• TGB on Wheels provides uninterrupted mobile ATM and banking services, ensuring access even in regions with limited or unreliable electricity supply.
• The project was launched with the support of the National Bank for Agriculture and Rural Development (NABARD), highlighting institutional backing for rural financial inclusion.
• At present, Tripura Gramin Bank operates 3 solar-powered ATM vans across Tripura, strengthening last-mile banking connectivity.
• For this innovative and sustainable banking initiative, TGB was honoured with the prestigious SKOCH Silver Award, recognizing excellence in governance and innovation.

National Statistics Office Reports Retail Inflation Rises to Three-Month High of 1.33% in December 2025

• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released the Consumer Price Index (CPI) for rural, urban, and combined segments for December 2025.
• India’s retail inflation (CPI) rose to a three-month high of 1.33% in December 2025, up from 0.71% in November 2025, while remaining below the RBI’s lower tolerance threshold of 2% for the fourth consecutive month.
• Food inflation, measured by the All India Consumer Food Price Index (CFPI), showed negative growth for the 7th consecutive month, declining by 120 basis points from -3.91% in November to -2.71% in December 2025.
• Rural food inflation stood at -3.08%, while urban food inflation was -2.09% in December 2025.
• Core inflation, which excludes volatile items like food and energy, increased to a 27-month high of 4.45% in December 2025, up from 4.23% in November 2025.
• Among major states, Kerala recorded the highest YoY inflation at 9.49%, followed by Karnataka (2.99%), Andhra Pradesh (2.71%), Tamil Nadu (2.67%), and Jammu & Kashmir (2.26%).
• The data highlights controlled retail inflation at the national level, persistent negative food inflation, and rising core inflation pressures across India.

State Bank of India to Facilitate India–Israel Bilateral Trade Settlements in INR

• State Bank of India (SBI), the only Indian bank with a branch in Israel, plans to facilitate bilateral trade between India and Israel in Indian Rupees (INR).
• Trade settlements will be done through the Special Rupee Vostro Account (SRVA) mechanism, as permitted by the Reserve Bank of India (RBI), allowing exporters and importers to settle trade in INR.
• SBI’s Tel Aviv branch, opened in 2007, has remained fully operational despite the pandemic and ongoing regional conflicts, demonstrating strong resilience.
• The bank will assist Indian workers in Israel by enabling remittances to India through NRI accounts and fintech partnerships.
• The initiative aligns with deepening economic ties, including progress towards an India–Israel Free Trade Agreement (FTA) and the recently signed Bilateral Investment Treaty (BIT).
• SBI’s plan supports rupee-denominated trade settlements, allowing Israeli exporters and importers to receive and make payments in INR through SRVA accounts linked to invoices.
• The Tel Aviv branch has secured all necessary regulatory approvals and actively engages with stakeholders, including the Israel-India Chamber of Commerce, to promote awareness of INR trade settlements.
• SBI is expanding services for the growing Indian workforce in Israel, particularly in construction and agriculture, facilitating NRI accounts and exploring partnerships with fintech firms and local banks.
• The rupee trade initiative coincides with intensified diplomatic engagement between India and Israel, including high-level visits and discussions between Narendra Modi and Benjamin Netanyahu.
• SBI’s expanded role positions it as a key financial bridge, supporting the next phase of India–Israel economic cooperation and promoting closer financial integration.

India Registers 49 Cryptocurrency Exchanges with FIU-IND in FY 2024–25, Majority Domestic

• 49 cryptocurrency exchanges were registered with India’s Financial Intelligence Unit (FIU-IND) during FY 2024–25, most of them domestic.
• All crypto exchanges in India were brought under the Prevention of Money Laundering Act (PMLA) framework in 2023, making them reporting entities for anti-money-laundering (AML) and counter-terror financing (CTF).
• Crypto exchanges are legally classified as Virtual Digital Assets (VDAs), and the trading platforms are designated as VDA Service Providers (VDA SPs).
• VDA SPs are required to report suspicious transactions (STRs), disclose beneficial ownership, and monitor wallet activities, including initial coin offerings (ICOs) and transfers between hosted and unhosted wallets.
• FIU is the single authority responsible for registering and monitoring all crypto exchanges in India for AML compliance.
• As of March 2025, 45 onshore exchanges and 4 offshore exchanges were registered with FIU, enabling them to operate under India’s compliance framework.
• During FY25, the FIU imposed penalties of ₹28 crore on certain non-compliant crypto exchanges.
• The regulatory framework aims to curb misuse of cryptocurrencies for scams, fraud, hawala, terror financing, illegal gambling, and child exploitation.

Reserve Bank of India Grants Innoviti Approval to Operate as Online and Offline Payment Aggregator

• Innoviti Technologies Private Limited,a payments-centric retail Software-as-a-Service (SaaS) platform, received a Certificate of Authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA) under the Payments and Settlement Systems (PSS) Act, 2007 across India.
• The RBI authorisation allows Innoviti to manage both online and offline (in-store) payment transactions, expanding its operational scope nationwide.
• Innoviti was initially authorised in March 2024 as an online Payment Aggregator, and the new licence now covers physical retail payments as well.
• The expanded PA licence enables seamless, secure and compliant payment processing for enterprises and Small & Medium-sized Enterprises (SMEs).
• Innoviti operates India’s largest offline payments platform, branded Innoviti UniPay, serving leading enterprise clients across the country.

India’s Insurance Penetration Stagnates at 3.7% in FY25, Half of Global Average

• India’s insurance penetration remained stagnant at 3.7% in FY25, which is almost half of the global average of 7.3% in 2024, indicating low insurance coverage in India.
• Life insurance penetration declined slightly from 2.8% in FY24 to 2.7% in FY25, while non-life insurance penetration remained unchanged at 1%, according to IRDAI data.
• Global life insurance penetration was 3% and non-life was 4.3% in 2024, showing wider coverage internationally.
• Insurance density (per capita premium) in India rose marginally to $97 in FY25 from $95 in FY24 — life insurance density increased from $70 to $72, while non-life stayed at $25.
• Global insurance density was $943 in 2024, with $388 for life insurance and $555 for non-life, highlighting India’s lag in insurance spending.
• Insurance penetration measures insurance premiums as a percentage of GDP, while insurance density measures premium per person; both indicate insurance sector development.
• Swiss Re projects life insurance premiums in India to grow slowly at 3.5% in 2025 due to tax rules, costs, and surrender norms, before improving to 5.7% in 2026.
• Despite challenges, India’s life insurance industry recorded strong performance in FY25, with total premium income of ₹8.86 lakh crore, showing 6.73% growth during the year.

Amazon Pay Launches Fixed Deposit Services in Partnership with 7 Banks and NBFCs

• Amazon Pay has launched fixed deposit (FD) services on its fintech app as part of its expansion into fixed-income assets.
• The platform has partnered with two NBFCs – Shriram Finance and Bajaj Finance – and five banks, including Shivalik Small Finance Bank, Suryoday Small Finance Bank, South Indian Bank, Slice, and Utkarsh Small Finance Bank.
• Users can start investing in FDs with a minimum amount of ₹1,000 and access multiple institutions without opening separate bank accounts.
• Deposits made through the app are insured up to ₹5 lakh per depositor per bank under DICGC (Deposit Insurance and Credit Guarantee Corporation) rules.
• The move reflects a trend where fintech platforms act as distribution partners for banks and NBFCs, enabling deposit mobilisation and earning commission-based income.
• Amazon Pay’s FD initiative allows users to invest in fixed income assets through partner banks and NBFCs, offering a convenient and insured investment option.
• Fintechs like Stable Money, money, MobiKwik, and others have similarly partnered with regulated entities to extend FD offerings in India.
• Take rates on fixed deposits for fintechs are modest and depend on deposit size and tenure as per arrangements with partner banks.
• This initiative strengthens Amazon Pay’s position in financial services beyond digital payments, supporting retail investment penetration in India.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Karnataka Cabinet Approves Statewide Rollout of ‘Akka Pade’ Scheme and Clears Multiple Development Projects

• The Karnataka Cabinet has approved the statewide implementation of the ‘Akka Pade’ scheme across all 31 districts and five police commissionerates, in coordination with the Home Department.
• The decision aims to strengthen prevention of atrocities against minor girls and women, including curbing child marriages, by extending the scheme beyond its pilot phase.
• Law and Parliamentary Affairs Minister H K Patil stated that the ‘Akka Pade’ scheme was initially launched on a trial basis in select districts.
• The scheme focuses on preventing child marriages and protecting minor girls and women from abuse and exploitation.
• Following its successful outcomes, the Cabinet approved its statewide rollout across Karnataka.
• The Cabinet approved 27 development projects across various sectors.
• Approval was given for the construction of a silk market in Mysuru at a cost of ₹20 crore, with loan assistance from the National Bank for Agriculture and Rural Development.
• The Cabinet cleared the establishment of a mega dairy in Kalaburagi at an estimated cost of ₹50 crore.
• A multi-village drinking water supply scheme worth ₹66 crore was approved.
• The drinking water project will benefit 291 villages in Gundlupete taluk of Chamarajanagar district and 95 residential areas in Bantwal taluk of Dakshina Kannada district.
• Administrative approval was granted for the purchase of a soap-making machine for Karnataka Soaps and Detergents Limited, Bengaluru, at a cost of ₹17.70 crore.
• The proposal to set up a 50 Tonnes Per Day Bio-Compressed Natural Gas plant under the Public–Private Partnership model at the Kolar Agricultural Produce Market Committee, costing ₹24.96 crore, was dropped.
• Instead, green waste generated at the Kolar market will be supplied to the 150 Tonnes Per Day Compressed Bio-Gas plant being set up by Gas Authority of India Limited in Kolar.
• The Cabinet accorded post-facto approval to a government order issued in December 2025 for the construction of rural health and wellness centres under the Prime Minister–Ayushman Bharat Health Infrastructure Mission scheme.
• The project period is 2024–2026, with an estimated cost of ₹127.40 crore.
• Approval was granted for the purchase of machinery and furniture for the new hospital and district hospital of Nandi Medical College and Research Institute, Chikkaballapur, at a cost of ₹40 crore.
• The Cabinet cleared the construction of a taluk panchayat office building in Holenarasipur town at a cost of ₹12 crore.
• It sanctioned 7.5 guntas of land in Kallu Kote village, Sira taluk, Tumakuru district, and 10 guntas of land in Sirwar, Raichur district, to the Congress Bhavan Trust, Bengaluru, for construction of Congress Bhavans.
• The Cabinet approved the establishment of a Government Tool Room and Training Centre multi-skill development centre at Gulbarga University, at a cost of ₹66.75 crore, by the Kalyana Karnataka Region Development Board.
• An amount of ₹10.60 crore was sanctioned for providing an underground drainage system in Haliyal town.
• Approval was given for the construction of an administrative building at the University of Agricultural Sciences, Mandya.
• The Cabinet cleared the allotment of land for Karnataka State Road Transport Corporation in Balepuni village, Dakshina Kannada district, for operating electric buses.
• Land was also allotted in Mada village, Sampaje hobli, for establishing a cultural and sports centre for the Arebhashe Gowda community.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Union Minister Jyotiraditya Scindia Launches Speed Post 24 and Speed Post 48 Services

• Union Minister for Communications Jyotiraditya Scindia announced the launch of two new India Post services: Speed Post 24 and Speed Post 48.
• These services ensure time-bound delivery within 24 hours and 48 hours, respectively.
• The announcement was made during a programme held at Pichhor in Shivpuri district of Madhya Pradesh.
• The initiative is being seen as a major step towards modernisation of postal services in India.
• According to the Minister, Speed Post 24 and Speed Post 48 will set a new benchmark for punctual, reliable and fast delivery across the country.
• During the event, Jyotiraditya Scindia inaugurated the renovated Pichhor sub-post office, developed at a cost of ₹2 lakh.
• He also laid the foundation stone and conducted the ground-breaking ceremony for a new sub-post office building at an estimated cost of ₹1 crore 11 lakh.
• These initiatives aim to strengthen postal infrastructure and improve service delivery at the grassroots level.

Andhra Pradesh Approves Dagadarthi Greenfield Airport in Nellore District

• The Andhra Pradesh Cabinet has approved the Dagadarthi Greenfield Airport project in Nellore district.
• With this approval, Dagadarthi will become the 8th airport in Andhra Pradesh, strengthening the state’s aviation network.
• The project aims to improve regional connectivity, boost logistics and industrial growth, and integrate air transport with ports and highways.
• The Dagadarthi airport is strategically located with strong connectivity to national highways, industrial clusters, and major ports.
• It is close to Krishnapatnam Port and Ramayapatnam Port, enhancing port-led development and exports.
• Proximity to industrial hubs such as KRIS City and Indian Farmers Fertiliser Cooperative Limited Special Economic Zones positions the airport as a key driver of manufacturing, agri-logistics and services-led growth in southern Andhra Pradesh.
• The project has received in-principle clearance from the Ministry of Civil Aviation.
• The state government has issued a Request for Proposal to invite private players for development, operation and maintenance.
• The airport will be developed under a long-term concession framework, following a public–private partnership model.
• The airport will be developed in multiple phases over an area of 1,332.80 acres.
• In Phase 1, the airport will have a capacity of 1.4 million passengers per annum.
• In the long term, the airport is scalable up to 15 million passengers per year.
• The master plan includes a future cargo facility, aligned with growing industrial production and port-based trade activity.
• The Dagadarthi Greenfield Airport is expected to act as a catalyst for regional economic transformation.
• The project will strengthen Andhra Pradesh’s position as an investment-ready and export-oriented state, improving domestic and global connectivity.
• Key facts at a glance include approval by the Andhra Pradesh Cabinet, location in Nellore district, classification as a Greenfield airport, status as the 8th airport in the state, Phase 1 capacity of 1.4 million passengers per year, and long-term capacity of up to 15 million passengers annually.

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu 
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

India to Host 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) in New Delhi

• India will host the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) in New Delhi.
• The three-day conference will begin on 15 January 2026 and conclude on 16 January 2026.
• The event will bring together Speakers and Presiding Officers from over 60 Commonwealth countries and semi-autonomous legislatures.
• Hosting CSPOC highlights India’s growing stature in parliamentary democracy, democratic values and institutional governance.
• The Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) is an important international parliamentary forum.
• Its primary objective is to promote knowledge-sharing, mutual learning and cooperation among Commonwealth legislatures.
• CSPOC aims to strengthen parliamentary institutions and deepen understanding of parliamentary democracy in its diverse forms.
• For the 28th CSPOC, Om Birla, Speaker of the Lok Sabha, will serve as the Chairperson of the Conference, underlining India’s leadership role.
• Prime Minister Narendra Modi will formally inaugurate the Conference on 15 January 2026.
• The inauguration will take place at Samvidhan Sadan (formerly Parliament House), adding strong constitutional and symbolic significance.
• The venue reflects India’s democratic traditions and constitutional legacy.
• The Prime Minister will also interact informally with Speakers and Presiding Officers, promoting parliamentary diplomacy and goodwill.
• The Conference will feature high-level sessions addressing contemporary challenges in parliamentary functioning.
• A major theme will be the use of Artificial Intelligence in Parliament, focusing on improving legislative efficiency, transparency and research support.
• Other key topics include:
• Impact of social media on parliamentarians
• Sharing best practices and innovative ideas
• Enhancing public understanding of Parliament
• Ensuring security, health and well-being of Members of Parliament
• These discussions reflect the evolving needs of democratic institutions in the digital age.
• On the first day, a meeting of the CSPOC Standing Committee will be held.
• Om Birla, as Chairperson of the 28th CSPOC, will preside over the Standing Committee meeting.
• The Standing Committee plays a key role in ensuring agenda-setting, continuity and institutional memory of the CSPOC process.
• Hosting the 28th CSPOC reinforces India’s position as the world’s largest democracy and a strong proponent of parliamentary values, inclusivity and dialogue.
• It strengthens India’s engagement with the Commonwealth, a grouping of diverse political systems united by democratic principles.
• For the Commonwealth, CSPOC provides a crucial platform to address shared governance challenges, adapt to technological change, and enhance democratic resilience.
• After the conclusion of the Conference, Lok Sabha Speaker Om Birla will formally hand over the Chair of CSPOC to Lindsay Hoyle, Speaker of the United Kingdom House of Commons.
• This handover reflects the rotational, cooperative and inclusive nature of the CSPOC framework.

India Launches Logo and Website for BRICS Presidency 2026

• India has officially begun preparations for its BRICS Presidency 2026 by launching the official logo and dedicated website.
• The announcement was made by External Affairs Minister S. Jaishankar, marking the formal start of India’s chairship preparations.
• The move reflects India’s vision for a people-centric, inclusive and development-oriented presidency amid rising global uncertainty.
• India’s BRICS Presidency 2026 aims to harness the collective potential of BRICS nations for global welfare and shared development.
• According to S. Jaishankar, India will assume the chairship at a significant milestone, as BRICS completes 20 years in 2026.
• Over time, BRICS has evolved into a major cooperation platform for emerging markets and developing economies.
• India’s approach will focus on people-centric development, dialogue and practical cooperation, while adapting to changing global realities and expanded BRICS membership.
• The theme of India’s BRICS Presidency 2026 is “Building for Resilience, Innovation, Cooperation and Sustainability.”
• The theme highlights India’s belief that collective cooperation can address shared global challenges in an inclusive and balanced manner.
• Jaishankar stated that India’s approach is inspired by the guidance of Prime Minister Narendra Modi and follows a humanity-first philosophy.
• Key focus areas include development for all, capacity building, promotion of innovation and long-term sustainability across member countries.
• The BRICS 2026 logo symbolises unity in diversity and blends tradition with modernity.
• The petals of the logo incorporate the colours of all BRICS member countries, representing equality, shared purpose and mutual respect.
• According to Jaishankar, the logo reflects how BRICS derives strength from the collective contributions of its members while respecting distinct identities.
• It visually reinforces the idea of inclusive development and cooperation.
• The newly launched BRICS India website will serve as a central digital platform during India’s chairship.
• It will provide information on meetings, initiatives and outcomes, ensuring transparency and wider engagement.
• The website will support timely dissemination of official updates and documents related to BRICS activities.
• By offering a single access point, the platform is expected to enhance coordination, communication and public awareness throughout India’s presidency.
• Jaishankar highlighted that the world is facing interconnected challenges, including geopolitical tensions, economic uncertainty, climate risks, rapid technological change and persistent development gaps.
• In this context, BRICS remains a vital forum for dialogue and cooperation among countries at different stages of development.
• India’s presidency aims to strengthen BRICS as a platform for practical solutions while respecting national priorities of member states.
• BRICS is a grouping of major emerging economies, formed in 2006.
• It serves as a platform for cooperation on economic, political and development issues.
• BRICS represents the interests of the Global South in global governance and international decision-making.

Punjabi Singer Kaka Launches ‘Friendo’ Women’s Safety Mobile Application

• Punjabi singer Kaka has launched a women’s safety mobile application named Friendo, marking his initiative beyond the music industry.
• The launch reflects increasing concern over crimes against women in India and highlights the role of technology and social responsibility in creating safer communities.
• Friendo is currently in the testing phase and is available only for Android users.
• The application focuses on providing quick emergency assistance and digital support tools for women and girls.
• Friendo is a mobile safety application designed to help women during emergency situations.
• It provides instant access to protective tools that can be activated quickly when a user feels unsafe.
• Kaka described the app as a social responsibility project, aimed at women empowerment rather than commercial profit.
• The app seeks to bridge the gap between victims and immediate help by integrating technology, connectivity and community support.
• It is free to download and designed for easy use even in high-stress situations.
• A dedicated SOS button allows users to send instant alerts to trusted contacts.
• The app supports live location sharing, enabling contacts or nearby users to track the user’s real-time location.
• Alternative triggers such as shake detection and voice commands are provided for situations where manual phone usage is difficult.
• These features ensure that help can be requested even when direct phone operation is not possible.
• Friendo includes advanced and discreet safety tools for enhanced protection.
• A stealth mode allows the app to function without drawing attention.
• The app can automatically record audio or video, helping in evidence collection during emergencies.
• These recordings may assist law enforcement agencies during post-incident investigation.
• By combining emergency alerts with evidence collection, the app strengthens both immediate response and post-incident action while maintaining user privacy.
• Beyond emergency response, Friendo offers a resource library with self-defence tutorials and information on women’s legal rights.
• At present, Friendo is available only on Android platforms and remains in the testing phase.
• The application is free to download, encouraging wider adoption.
• Developers have announced that an iOS version is expected in the near future.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Meta CEO Mark Zuckerberg Appoints Dina Powell McCormick as President and Vice Chairman to Boost AI Strategy

• Mark Zuckerberg, Founder and Chief Executive Officer (CEO) of Meta Platforms Inc., announced the appointment of Dina Powell McCormick as President and Vice Chairman of Meta to strengthen its Artificial Intelligence (AI) strategy.
• Dina Powell McCormick has over 25 years of experience in global finance, national security, and economic development.
• She worked for 16 years at Goldman Sachs as a partner, management committee member, and head of Global Sovereign Investment Banking.
• She served in public service as Deputy National Security Advisor (NSA) under President Donald Trump and held senior roles in the White House and State Department under President George W. Bush.
• Dina Powell McCormick has held board positions at major corporations, including Meta and Exxon Mobil.
• Her recent role was as Vice Chair, President, and Head of Global Client Services at BDT & MSD Partners.

Abhishek Dev Gets One-Year Extension as APEDA Chairman, Approved by ACC on Commerce Department Proposal

• Abhishek Dev has received a one-year extension as Chairman of Agricultural and Processed Food Products Export Development Authority (APEDA), approved by the Appointments Committee of the Cabinet (ACC) on the proposal of the Department of Commerce.
• As per the DoPT order dated January 5, 2025, his deputation is extended beyond February 8, 2026, or until further orders, whichever is earlier.
• Abhishek Dev was initially appointed Chairman of APEDA in July 2023 and has been leading the organisation since then.
• Abhishek Dev is a 2007-batch Indian Administrative Service (IAS) officer of the AGMUT cadre and previously served as Director of Census Operations at the Andaman and Nicobar Islands in 2021.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

ONGC to Acquire 50% Stake in Two JVs with Japan’s Mitsui OSK Lines for Ethane Transport to India’s Petrochemical Sector

• ONGC has decided to take a 50% stake in two joint ventures — Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited — formed with Japan’s Mitsui OSK Lines (MOL) to transport ethane for India’s petrochemical sector.
• Each joint venture will own one Very Large Ethane Carrier (VLEC), while MOL will operate the ships under the Indian flag, and both partners will hold equal 50% ownership.
• The vessels will be used to ship ethane from the United States to ONGC Petro Additions Limited (OPaL) at its Dahej petrochemical complex, Gujarat.
• ONGC will subscribe to 2 lakh equity shares of ₹100 each in each JV, giving it full participation in the specialised shipping business.
• The two ethane carriers will be built in South Korean shipyards at a combined cost of around $370 million.
• ONGC plans to start importing ethane from mid-2028 to support OPaL’s dual-feed crackers, which use ethane and propane to make petrochemicals.
• ONGC (Oil and Natural Gas Corporation Limited) is an Indian central public sector undertaking and the largest government-owned oil and gas explorer. Arun Kumar Singh is the Chairman & CEO.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

APEDA Hosts BHARATI Startup Challenge at IndusFood 2026, Selected Startups to Gain Global Exposure in Gulfood Dubai and BIOFACH Germany

• APEDA (Agricultural and Processed Food Products Export Development Authority) launched a new initiative named BHARATI to support agri-food and agritech startups.
• BHARATI stands for Bharat’s Hub for Agritech, Resilience, Advancement and Incubation for Export Enablement, aimed at promoting innovation, entrepreneurship, and export opportunities in India’s agricultural and food processing sectors.
• During IndusFood 2026, APEDA organised the BHARATI Startup Challenge to support export-ready startups by providing mentorship, market access, and policy facilitation.
• Selected startups will receive international exposure through participation in Gulfood (Dubai) and BIOFACH (Germany), helping them explore global markets and strengthen India’s agri-export ecosystem.
• The BHARATI Startup Zone showcased over 100 innovative agri-startups working in areas such as value addition, agri-technology, processing, packaging, logistics, traceability, and sustainable export solutions.
• The initiative highlights how entrepreneurship and technology-led solutions are strengthening India’s agricultural value chains, supporting MSMEs, empowering farmers, and enhancing India’s global market presence.
• The APEDA Pavilion displayed quality assurance systems, traceability initiatives, GI-tagged products, and sustainability-driven practices, connecting exporters, FPOs, startups, and global buyers.
• The event was inaugurated by Union Minister of Food Processing Industries, Shri Chirag Paswan, along with senior government officials and industry leaders.
• APEDA’s participation at IndusFood 2026 emphasized the Government of India’s focus on ease of doing business, MSME empowerment, startup enablement, and sustainable agricultural exports.
• APEDA is a statutory body established under the APEDA Act, 1985, functioning under the Ministry of Commerce & Industry.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India–Germany Sign 19 Strategic Agreements to Deepen Bilateral Partnership

• India and Germany have signed 19 agreements and joint declarations to strengthen their strategic partnership.
• The agreements were finalised after talks between Prime Minister Narendra Modi and German Chancellor Friedrich Merz.
• The cooperation focuses on defence manufacturing, advanced technology, critical minerals and trade, reflecting growing mutual trust and shared global interests.
• The agreements cover defence, trade, critical minerals, semiconductors and emerging technologies.
• Both countries agreed to enhance co-development and co-production in defence manufacturing.
• Cooperation will also extend to digitalisation, telecommunications, health and bio-economy, supporting long-term industrial and research partnerships.
• India and Germany agreed to deepen their defence and security partnership through joint production, training and military exercises.
• Naval cooperation will be expanded with regular port calls and exchanges.
• A new Track 1.5 Foreign Policy and Security Dialogue will be established to improve strategic coordination on regional and global security issues.
• A major outcome is the India–Germany Semiconductor Ecosystem Partnership.
• Both sides will collaborate across the entire semiconductor value chain, from research and design to manufacturing.
• In critical minerals, cooperation will focus on exploration, processing, recycling and supply chain security, which are vital for clean energy and high-technology industries.
• Bilateral trade between India and Germany has crossed USD 50 billion, underlining strong economic ties.
• A key people-centric initiative is visa-free airport transit through Germany for Indian passport holders, easing travel and mobility.
• The presence of over 2,000 German companies operating in India reflects strong economic confidence and long-term engagement.
• Overall, the agreements aim to promote economic growth, innovation, resilient global supply chains and strategic collaboration, strengthening the India–Germany partnership in a rapidly changing global environment.

CURRENT AFFAIRS: RANKING AND INDEX

Responsible Nations Index to be Launched in New Delhi

• A new global assessment framework named the Responsible Nations Index will be launched on January 19.
• The index will be released by the World Intellectual Foundation.
• The launch event will take place in New Delhi in the presence of former President of India Ram Nath Kovind.
• The initiative comes at a time when countries face shared challenges related to sustainability, governance and global stability.
• The Responsible Nations Index is a global index designed to evaluate how responsibly countries function in an interconnected world.
• It covers 154 countries, making it one of the broadest international indices in terms of scope.
• The index is built using transparent and globally sourced data, ensuring credibility and cross-country comparability.
• Its objective is to encourage nations to focus not only on economic growth but also on social justice, environmental protection and global cooperation.
• By identifying strengths and gaps, the index aims to promote responsible governance worldwide.
• The index is structured around three core dimensions.
• Internal responsibility focuses on dignity, justice and overall well-being of citizens.
• The launch of the index is supported by leading Indian institutions such as Jawaharlal Nehru University, Indian Institute of Management Mumbai, and the Dr Ambedkar International Centre.
• These collaborations add academic depth and policy relevance to the initiative.

Henley Passport Index 2026: India Ranks 80th with Improved Global Mobility

• The Henley Passport Index 2026 has ranked India at 80th position globally, reflecting a modest improvement in international travel access.
• Indian passport holders now have visa-free, visa-on-arrival or e-visa access to 55 destinations, improving from 85th rank last year.
• Despite this progress, significant visa restrictions remain for major destinations such as Europe and North America, continuing to shape Indian travel planning.
• The Henley Passport Index is published by Henley & Partners and is considered the global benchmark for passport strength.
• It ranks passports based on the number of destinations accessible without a prior visa or with visa-on-arrival.
• The index uses exclusive data from the International Air Transport Association (IATA), making it one of the most credible measures of global mobility.
• The 2026 edition evaluates 277 countries and territories, including sovereign states, regions and special administrative zones.
• This wide coverage allows for a comprehensive and comparative assessment of international travel freedom.
• India’s 80th rank places it alongside Nigeria and Algeria.
• Regional neighbours Bangladesh and Pakistan rank lower than India, highlighting a mobility gap within South Asia.
• The rankings underline the contrast between India and advanced economies with stronger passport power.
• Singapore holds the world’s most powerful passport, with access to 192 destinations.
• Japan and South Korea jointly rank second, allowing access to 188 destinations, reflecting strong diplomacy and global trust.
• European countries dominate the top ranks, with several European Union nations offering access to over 185 destinations, showcasing the strength of European integration.
• Afghanistan ranks 101st, holding the weakest passport in the world, with access to only 24 destinations.
• It is followed by Syria and Iraq, demonstrating how conflict, political instability and security issues restrict global mobility.
• The gap between the most powerful passport (Singapore) and the weakest (Afghanistan) stands at 168 destinations.
• Top 10 most powerful passports in 2026 include:
• Rank 1: Singapore – 192 destinations
• Rank 2: Japan, South Korea – 188 destinations
• Rank 3: Denmark, Luxembourg, Spain, Sweden, Switzerland – 186 destinations
• Rank 4: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway – 185 destinations
• Rank 5: Hungary, Portugal, Slovakia, Slovenia, United Arab Emirates – 184 destinations
• Rank 6: Croatia, Czechia, Estonia, Malta, New Zealand, Poland – 183 destinations
• Rank 7: Australia, Latvia, United Kingdom, Liechtenstein – 182 destinations
• Rank 8: Canada, Iceland, Lithuania – 181 destinations
• Rank 9: Malaysia – 180 destinations
• Rank 10: United States – 179 destinations
• Bottom five weakest passports are:
• Rank 101: Afghanistan – 24 destinations
• Rank 100: Syria – 26 destinations
• Rank 99: Iraq – 29 destinations
• Rank 98: Pakistan, Yemen – 31 destinations
• Rank 97: Somalia – 33 destinations
• In 2026, Indian passport holders can travel more easily to selected regions such as:
• Asia: Thailand, Indonesia, Malaysia, Sri Lanka, Maldives
• Middle East: United Arab Emirates, Qatar, Oman
• Africa: Kenya, Tanzania, Rwanda
• Islands and Caribbean: Mauritius, Seychelles, Barbados
• These destinations offer the most practical options for spontaneous or short-notice travel for Indian citizens.

CURRENT AFFAIRS: SPORTS NEWS

National Sports Governance (National Sports Bodies) Rules, 2026 Notified

• The Union Government has notified the National Sports Governance (National Sports Bodies) Rules, 2026.
• These Rules operationalise the provisions of the National Sports Governance Act, 2025.
• The objective is to promote transparency, accountability, athlete-centric governance and gender representation in sports administration, aligning India’s sports governance with global best practices.
• The Rules lay down a comprehensive framework for the governance of National Sports Bodies and Regional Sports Federations.
• They clearly define the composition of General Bodies and Executive Committees, election procedures, and eligibility conditions.
• The aim is to create a transparent, accountable and athlete-driven sports ecosystem while ensuring a smooth transition to a statutory governance framework.
• A major reform is the mandatory inclusion of at least four Sportspersons of Outstanding Merit (SOMs) in the General Body of every National Sports Body.
• To ensure gender equity, 50% of these SOMs must be women.
• Eligibility conditions include a minimum age of 25 years, retirement from active sports, and a one-year cooling-off period after active competition.
• To enhance women’s role in decision-making, the Rules mandate the inclusion of at least four women in the Executive Committee of each National Sports Body.
• Sports bodies are permitted to reserve specific posts for women through their bye-laws, ensuring meaningful and sustained gender representation in governance structures.
• The Rules introduce a 10-tier classification system for identifying Sportspersons of Outstanding Merit.
• This classification ranges from medal winners at the Olympic and Paralympic Games to those securing medals at the National Games or National Championships.
• The approach ensures inclusive and flexible athlete representation across international and domestic sports disciplines.
• The Rules prescribe a clear, step-by-step and time-bound election process, covering applications by SOMs, preparation of electoral rolls and nomination procedures.
• Strict disqualification norms are included. Individuals convicted by a court and sentenced to imprisonment are barred from contesting elections or holding positions in General Bodies, Executive Committees or Athletes Committees.
• The Rules provide for the establishment of a National Sports Election Panel comprising at least 20 qualified members.
• The fee of electoral officers is capped at ₹5 lakh.
• All National Sports Bodies must amend their bye-laws within six months to align with the Act and Rules.
• The Central Government may relax provisions for up to 12 months in special cases, with reasons recorded in writing.

Alyssa Healy Announces Retirement from International Women’s Cricket

• Australia women’s cricket captain Alyssa Healy has announced her retirement from all formats of international cricket.
• Her retirement will take effect after the India Women’s tour of Australia (February–March 2026).
• The announcement marks the end of an era in Australian women’s cricket and signals a major transition ahead of the 2026 ICC Women’s T20 World Cup.
• Alyssa Healy confirmed that the multi-format home series against India will be her final international assignment.
• She will not participate in the T20 International matches, citing Australia’s preparation for the 2026 ICC Women’s T20 World Cup.
• Healy will captain Australia in the One Day International series and the one-off day-night Test match in Perth.
• She stated that while she still loves representing Australia, the competitive edge that defined her career has gradually faded, making this the right time to step away.
• Alyssa Healy made her international debut in 2010 at the age of 19 against New Zealand.
• She is set to retire with 162 Women’s T20 International caps, 126 Women’s One Day International caps and 11 Women’s Test caps.
• As a wicketkeeper, she holds the record for most dismissals in Women’s T20 Internationals (126 dismissals).
• Known for her aggressive batting at the top of the order, Healy redefined the role of a wicketkeeper-batter and became one of the most destructive openers in women’s cricket.
• Career statistics of Alyssa Healy include:
• Women’s Tests: 10 matches, 16 innings, 489 runs, highest score 99.
• Women’s One Day Internationals: 123 matches, 111 innings, 3,563 runs, highest score 170.
• Women’s T20 Internationals: 162 matches, 143 innings, 3,054 runs, highest score 148.
• Alyssa Healy’s major trophies and titles include:
• ICC Women’s Cricket World Cup (50-over) – 2-time winner.
• ICC Women’s T20 World Cup – 6-time winner.
• Commonwealth Games – 1 Gold Medal.
• Healy became Australia’s full-time women’s team captain in 2023, following the retirement of Meg Lanning.
• Her most notable leadership achievement was guiding Australia to a 16–0 multi-format Ashes whitewash against England.
• Under her captaincy, Australia reached the semi-finals of the 2024 ICC Women’s T20 World Cup and the 2025 ICC Women’s One Day International World Cup.
• Her leadership style combined tactical sharpness with aggressive cricket, helping maintain Australia’s dominance in women’s international cricket.
• Alyssa Healy was part of eight ICC World Cup-winning campaigns, including six Women’s T20 World Cups and two Women’s One Day International World Cups.
• She holds the record for the highest individual score in a Women’s World Cup final.
• Her individual honours include the Belinda Clark Award (2019) and ICC Women’s T20 International Cricketer of the Year awards in 2018 and 2019.
• She also won a gold medal at the 2022 Commonwealth Games.
• In domestic cricket, Healy represented the Sydney Sixers in the Women’s Big Bash League, scoring over 3,000 runs across 11 seasons and winning two WBBL titles.
• She also played in the Women’s Premier League, featuring for two seasons and captaining the UP Warriorz.

CURRENT AFFAIRS : OBITUARIES

Swiss Olympic Bronze Medallist Snowboarder Ueli Kestenholz Passed away at 50 in Alps Avalanche

• Ueli Kestenholz, the Swiss snowboarder and Olympic bronze medallist, passed away at age 50 after being caught in an avalanche in the Swiss Alps.
• The incident occurred in canton Valais, on the eastern flank of Hockuchriz peak in the Lötschental region at around 2,400 metres (7,900 feet).
• Kestenholz was riding off-piste with a companion, who escaped unhurt, while he was buried under snow and later airlifted for emergency treatment to hospitals in Visp and Sion.
• The Valais police stated that the trigger of the avalanche is unknown, and the case is under investigation by the public prosecutor’s office.
• He won bronze in giant slalom at the 1998 Nagano Winter Olympics, the first Olympics to include snowboarding, marking his podium finish as part of the sport’s Olympic debut.
• Kestenholz also competed in the 2002 and 2006 Winter Olympics and achieved major success at the Winter X Games, winning gold in snowboard cross in 2003 and 2004.
• After retiring from World Cup and Olympic circuits in 2006, he focused on freeride snowboarding, speedriding, and outdoor activities such as paragliding and surfing.

Kerala Congress (M) Veteran and Ex-Member of Parliament  Thomas Kuthiravattam Passed away at 80 in Alappuzha

• Veteran Kerala Congress (M) leader and former Member of Parliament (MP), Thomas Kuthiravattam, passed away at the age of 80 in Alappuzha, Kerala.
• He was born on June 1, 1945, in Kallissery, Chengannur, Kerala.
• Thomas Kuthiravattam was a senior political leader associated with Kerala Congress (M), known for his long-standing involvement in state and national politics.
• He held key positions in Kerala Congress (M), including State General Secretary and Vice Chairman.
• He served as a Rajya Sabha MP representing Kerala from 1985 to 1991.
• During his political career, he was a member of several parliamentary committees, including the Joint Parliamentary Committee that investigated the Bofors deal.
• After retiring from active politics, he contributed to charitable work as a member of the Malankara Orthodox Syrian Church Managing Committee for 25 years.

CURRENT AFFAIRS: IMPORTANT DAYS

Indian Army Day 2026 is observed on 15th January

• Indian Army Day 2026 is observed on 15th January 2026.
• The day marks the 75th birth anniversary of Indian Army Day.
• Indian Army Day is celebrated to commemorate the historic moment when Field Marshal K M Cariappa took over as the first Indian Commander-in-Chief of the Indian Army from the British Commander-in-Chief.
• The formal and final transfer of command took place on 15 January 1949, which is observed annually as Indian Army Day.
• During World War I, around one million Indians volunteered to serve in the British Army, and nearly 90,000 Indian soldiers lost their lives in the war.
• In World War II, approximately 50 percent of the officers involved in military engagements were Indians, highlighting their significant role.
• As the Indian independence movement intensified in 1946, loyalty within the British-led Indian armed forces weakened.
• A majority of the army and navy divisions either rebelled or resigned during this period.
• Although the British military structure continued to be Indianised even after independence, the complete transfer of command was achieved on 15 January 1949, which is commemorated through Indian Army Day celebrations.

Daily CA One- Liner: January 15 & 16

• The Karnataka Cabinet has approved the statewide implementation of the ‘Akka Pade’ scheme across all 31 districts and five police commissionerates, in coordination with the Home Department
• Union Minister for Communications Jyotiraditya Scindia announced the launch of two new India Post services: Speed Post 24 and Speed Post 48
• The Andhra Pradesh Cabinet has approved the Dagadarthi Greenfield Airport project in Nellore district
• India will host the 28th Conference of Speakers and Presiding Officers of the Commonwealth (CSPOC) in New Delhi
• India has officially begun preparations for its BRICS Presidency 2026 by launching the official logo and dedicated website
• Punjabi singer Kaka has launched a women’s safety mobile application named Friendo, marking his initiative beyond the music industry
• India and Germany have signed 19 agreements and joint declarations to strengthen their strategic partnership
• A new global assessment framework named the Responsible Nations Index will be launched on January 19
• The Henley Passport Index 2026 has ranked India at 80th position globally, reflecting a modest improvement in international travel access
• The Union Government has notified the National Sports Governance (National Sports Bodies) Rules, 2026
• Australia women’s cricket captain Alyssa Healy has announced her retirement from all formats of international cricket.
• Surjit Bhujabal, Special Secretary & Member (Customs),Central Board of Indirect Taxes & Customs (CBIC), under the Ministry of Finance (MoF), inaugurated the Indian Customs Electronic Gateway – Land Port Management System (ICEGATE – LPMS) integration at the Integrated Check Post (ICP), Agartala, Tripura.
• Tripura Gramin Bank (TGB) created a national milestone by becoming the 1st Regional Rural Bank (RRB) in India to introduce India’s first fully solar-powered mobile Automatic Teller Machine (ATM) van, named ‘TGB on Wheels’.
• The National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI) released the Consumer Price Index (CPI) for rural, urban, and combined segments for December 2025.
• State Bank of India (SBI), the only Indian bank with a branch in Israel, plans to facilitate bilateral trade between India and Israel in Indian Rupees (INR).
• 49 cryptocurrency exchanges were registered with India’s Financial Intelligence Unit (FIU-IND) during FY 2024–25, most of them domestic.
• Innoviti Technologies Private Limited,a payments-centric retail Software-as-a-Service (SaaS) platform, received a Certificate of Authorization from the Reserve Bank of India (RBI) to operate as a Payment Aggregator (PA) under the Payments and Settlement Systems (PSS) Act, 2007 across India.
• India’s insurance penetration remained stagnant at 3.7% in FY25, which is almost half of the global average of 7.3% in 2024, indicating low insurance coverage in India.
• Amazon Pay has launched fixed deposit (FD) services on its fintech app as part of its expansion into fixed-income assets.
• Mark Zuckerberg, Founder and Chief Executive Officer (CEO) of Meta Platforms Inc., announced the appointment of Dina Powell McCormick as President and Vice Chairman of Meta to strengthen its Artificial Intelligence (AI) strategy.
• Abhishek Dev has received a one-year extension as Chairman of Agricultural and Processed Food Products Export Development Authority (APEDA), approved by the Appointments Committee of the Cabinet (ACC) on the proposal of the Department of Commerce.
• ONGC has decided to take a 50% stake in two joint ventures — Bharat Ethane One IFSC Private Limited and Bharat Ethane Two IFSC Private Limited — formed with Japan’s Mitsui OSK Lines (MOL) to transport ethane for India’s petrochemical sector.
• APEDA (Agricultural and Processed Food Products Export Development Authority) launched a new initiative named BHARATI to support agri-food and agritech startups.
• Ueli Kestenholz, the Swiss snowboarder and Olympic bronze medallist, passed away at age 50 after being caught in an avalanche in the Swiss Alps.
• Veteran Kerala Congress (M) leader and former Member of Parliament (MP), Thomas Kuthiravattam, passed away at the age of 80 in Alappuzha, Kerala.
• Indian Army Day 2026 is observed on 15th January 2026