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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Department of Financial Services Launches Composite Salary Account Package for Central Government Employees with Public Sector Banks

• The Department of Financial Services (DFS), Ministry of Finance, has advised Public Sector Banks to introduce a Composite Salary Account Package to enhance the financial well-being and social security of Central Government employees.
• The Salary Account Package was formally launched by DFS Secretary M. Nagaraju, attended by Chairman SBI, MD & CEOs of all Nationalized Banks, CEO NPCI, and senior DFS officers.
• The initiative aligns with the Government’s vision of Viksit Bharat 2047 and the national commitment towards Insurance for All by 2047.
• The package is designed for employees across all cadres (Group A, B, and C) to provide a comprehensive suite of banking, insurance, and card benefits under a single account structure.

Key Highlights :

• The Composite Salary Account Package has three core segments – Banking, Insurance, and Cards, making it a one-stop financial solution for Central Government employees.
• Banking facilities include a zero-balance salary account, free RTGS/NEFT/UPI/cheque facilities, concessional interest rates on loans, reduced loan processing charges, locker rental waivers, and family banking benefits.
• Insurance coverage includes Personal Accident Insurance up to ₹1.5 crore, Air Accident Insurance up to ₹2 crore, Permanent Total & Partial Disability Cover up to ₹1.5 crore, Term Life Insurance up to ₹20 lakh with top-up options, and comprehensive Health Insurance for self and family with an additional top-up facility.
• Digital and card features include enhanced debit and credit card benefits, airport lounge access, rewards, cashback offers, unlimited transactions, and nil maintenance charges.
• The initiative provides ease of access, financial security, and peace of mind to Central Government employees, strengthening the employee–bank relationship.
• DFS has directed Public Sector Banks to publicize the scheme, organize awareness camps in government departments, proactively reach out to employees, and facilitate migration of existing salary accounts to the new package with employee consent.
• All Central Government employees are encouraged to avail the benefits of this comprehensive Composite Salary Account Package through their salary accounts with Public Sector Banks.
• Complete details of the package are available on the DFS website – https://financialservices.gov.in.

World Bank Estimates India’s Economic Growth at 7.2% for FY26 and 6.5% for FY27

• The World Bank Group (WBG) released its flagship report titled “Global Economic Prospects (GEP): January 2026”, which projected India’s GDP growth at 7.2% in FY26, revised upward from the 3% forecast in June 2025.
• India’s FY26 growth is mainly driven by robust domestic demand, including strong private consumption, supported by tax reforms and rising rural household incomes.
• The report projected that India’s GDP growth will moderate to 5% in FY27, lower than the earlier estimate of 7.2%, assuming 50% import tariffs imposed by the USA remain throughout the forecast period.
• India’s GDP growth is expected to edge up to 6% in FY28, aided by robust services sector activity, recovery in exports, and a pickup in investment.
• The impact of higher US tariffs on Indian exports is expected to be offset by stronger-than-expected domestic demand
• India’s inflation is projected to converge to RBI’s target of 4%, assuming stable seasonal conditions that help contain food price inflation.
• The global growth rate is projected to slow marginally by 10 basis points (bps) from 7% in CY25 to 2.6% in CY26.
• The South Asia region’s growth is projected to rise to 1% in CY25, supported by strong economic activity in India, which offsets rising trade tensions and policy uncertainty.
• The South Asia growth rate is expected to ease to 2% in CY26 due to the impact of higher US tariffs on India’s exports.
• The World Bank excludes Pakistan and Afghanistan from the South Asia region, placing them under the Middle East and North Africa (MENA)

About World Bank :

• Established: 1944.
• Headquarters: Washington, DC, USA
• President: Ajay Banga

Department of Financial Services Launches Paripoorna Mediclaim Ayush Bima for CGHS Beneficiaries

• The Government of India has launched Paripoorna Mediclaim Ayush Bima as an optional retail health insurance product for Central Government Health Scheme (CGHS)
• The scheme is designed to complement existing CGHS benefits and provide additional financial protection with wider access to quality healthcare across India.
• The policy offers indemnity-based in-patient hospitalisation coverage within India with sum insured options of ₹10 lakh and ₹20 lakh.
• The product includes a co-payment feature, allowing beneficiaries to choose between 70:30 or 50:50 cost-sharing between the insurer and subscriber.
• The scheme is offered at a discount of 28% for 70:30 and 42% for 50:50 co-payment options, compared to regular retail policies.
• The policy provides cashless facilities, access to a wide network of hospitals, modern treatments, and AYUSH coverage, enhancing financial security for CGHS beneficiaries.
• Eligibility: Available exclusively to CGHS beneficiaries with a maximum of six members per policy.
• Key Features:
• Room rent capped at 1% of sum insured per day for Normal Room and 2% for ICU.
• Pre-hospitalization coverage for 30 days and post-hospitalization coverage for 60 days.
• AYUSH treatments covered up to 100% of sum insured for in-patient hospitalization.
• Modern treatment covered up to 25% of sum insured, with an optional rider for 100% coverage.
• Cumulative bonus of 10% for every claim-free year, up to 100% of sum insured.
• The policy has no GST to ensure maximum affordability.
• The scheme provides greater flexibility, seamless coverage, expanded access to quality healthcare, and enhanced financial security for CGHS beneficiaries.

Karnataka Bank Launches Net Banking Facility for Khajane‑2 e-Receipts

• Karnataka Bank Limited has enabled its net banking platform to support payment and receipt of electronic receipts (e-receipts) for Government of Karnataka transactions through the Khajane-2 system.
• The initiative highlights the bank’s commitment to providing easy, secure, and value-added digital banking services to meet evolving customer needs.
• Regulatory approvals for the initiative have been obtained from the Reserve Bank of India (RBI) and the Department of Treasuries, Government of Karnataka.
• The bank is authorised to collect State Government revenue receipts through the Khajane-2 Integrated Financial Management System (IFMS).
• Following successful technical integration with RBI’s e-Kuber system and the Khajane-2 platform, customers can make seamless tax and fee payments via net banking.
• The facility enables payments to various State Government departments in a digital and paperless manner.
• By minimising manual processes and streamlining receipt handling, the initiative enhances citizen convenience.
• The move also strengthens Karnataka’s digital payments infrastructure and promotes efficient government revenue collection.

About Karnataka Bank:

• Founded: 1924
• Headquarters: Mangaluru, Karnataka, India
• Managing Director & CEO: Raghavendra Srinivas Bhat
• Tagline: "Your Family Bank, Across India"

Pension Fund Regulatory and Development Authority Forms 15-Member Panel Under M. S. Sahoo for National Pension System Payout Framework

• The Pension Fund Regulatory and Development Authority (PFRDA), a statutory body under the Ministry of Finance (MoF), has constituted a 15-member high-level expert committee to formulate a regulatory framework for assured payouts under the National Pension System (NPS).

Key Highlights :

• The committee is chaired by S. Sahoo, former Chairperson of the Insolvency and Bankruptcy Board of India (IBBI).
• The initiative aims to strengthen the security of retirement income for NPS subscribers.
• The high-level committee comprises a multidisciplinary panel of 15 experts from law, actuarial science, finance, insurance, capital markets, and academia.
• The committee is authorised to invite external experts or intermediaries as special invitees for consultation and feedback.
• The committee is constituted as a standing advisory body on structured pension payouts under NPS to frame assured payout regulations and enable a smooth accumulation-to-decumulation transition.
• The framework deliberation includes novation and settlement to enable legally enforceable, market-based assurances, and defines operational standards including lock-in periods, fee structures, withdrawal limits, and tax treatment in the NPS payout phase.
• The committee is tasked with establishing risk management, capital adequacy, solvency, and legal safeguards for institutions offering assured payouts.
• It is also responsible for standardising disclosures, preventing mis-selling, clarifying ‘assured’ versus market-linked returns, and addressing shortcomings of the current annuity-based model.

About PFRDA :

• The PFRDA was established in 2003 and accorded statutory status under the PFRDA Act, 2013, operating under the Ministry of Finance (MoF).
• The authority aims to develop and regulate the National Pension System (NPS) and the Atal Pension Yojana (APY) to ensure old-age income security for Indian citizens.
• Headquarters: New Delhi, Delhi.
• Chairperson: Sivasubramanian Ramann

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

9th International Spice Conference 2026 to be Held in Kochi

• The 9th International Spice Conference (ISC 2026) will be held in Kochi, Kerala, from 23 to 26 February 2026.
• The conference is being organised by the All-India Spices Exporters Forum (AISEF).
• The International Spice Conference is a flagship global event of AISEF and serves as a major platform for collaboration across the entire spice value chain.
• ISC 2026 will be a four-day global conference with participation from policymakers, exporters, scientists, startups, innovators, and global industry leaders.
• Discussions will focus on the future of the global spice industry, addressing challenges such as market volatility, climate change, global trade disruptions, and evolving consumer preferences.
• The conference will also explore innovation-led growth opportunities for the spice sector.
• The theme of ISC 2026 is “Spice 360 – Getting Future Ready”.
• The conference will be inaugurated by Amitabh Kant, former G20 Sherpa, who will deliver the keynote address on “Transforming Agro-Industry: Innovation, Inclusion & Global Leadership.”
• The Guest of Honour will be Martin Sonntag, CEO of Oterra, who will speak on “Shaping the Next Decade of Food & Nutrition.”
• Hosting ISC 2026 in Kerala holds strong historical and economic significance, as the state has been a global hub of the spice trade for centuries.
• According to AISEF, Kerala’s selection symbolises a continuity between traditional spice trade heritage and future-ready strategies.
• ISC 2026 gains importance amid recent global trade disruptions, which have forced Indian exporters to diversify markets, strengthen ASEAN linkages, and focus on value-added spice products.
• The conference will address cost optimisation, domestic market linkages, risk mitigation strategies, and exporter competitiveness.
• Overall, ISC 2026 aims to help the Indian spice sector adapt to changing global trade dynamics and strengthen its global leadership position.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar 
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

Rajasthan’s First Fully Organic Village Body: Bamanwas Kankar Panchayat

• Bamanwas Kankar Panchayat in Rajasthan has been declared the state’s first fully organic village body, covering seven hamlets.
• All agricultural activities in the panchayat now follow organic farming practices, marking a major step in sustainable and chemical-free agriculture.
• Farmers have completely stopped using chemical fertilizers, synthetic pesticides, and genetically modified inputs.
• Instead, they rely on natural manure, compost, crop rotation, and biological pest control methods.
• The transition required strong community participation, farmer training, and continuous monitoring.
• This achievement is significant for Rajasthan’s arid and semi-arid agro-climatic conditions, demonstrating that sustainable farming is viable even in challenging environments.
• Organic farming is a sustainable agricultural system that depends on natural on-farm inputs to maintain soil fertility and manage pests.
• It avoids synthetic chemicals, promotes ecological balance, and enhances soil organic matter and biodiversity for long-term productivity.
• Organic farming contributes to climate change mitigation by reducing greenhouse gas emissions associated with chemical fertilizer use.
• For farmers, it ensures safer food production and reduces dependence on costly external inputs.
• Advantages of organic farming include reduced soil, water, and air pollution, leading to cleaner ecosystems.
• It lowers chemical residues in food, minimizing health risks for humans and animals.
• Organic practices improve soil structure, aeration, and water-holding capacity, reducing erosion and crop failure risks.
• Farmers benefit from lower input costs and more resilient farming systems, ensuring sustainability for future generations.
• The Government of India supports organic farming through schemes such as Paramparagat Krishi Vikas Yojana, which promotes cluster-based organic farming.
• The Mission Organic Value Chain Development for North Eastern Region focuses on strengthening organic value chains for export.
• The National Centre of Organic Farming, under the Ministry of Agriculture, acts as the nodal body for training, certification, and awareness.
• India is among the leading countries in organic farming in terms of number of farmers.
• Organic agriculture is promoted under the Integrated Nutrient Management framework.
• Certification systems like Participatory Guarantee System-India and National Programme for Organic Production ensure credibility of organic produce.
• States such as Sikkim, India’s first fully organic state, serve as successful models, and Rajasthan’s initiative adds momentum to India’s sustainable agriculture journey.

About Rajasthan:

• Capital: Jaipur
• Governor: Haribhau Bagade
• Chief Minister: Bajan Lal Sharma
• National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
• Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary

RECENT NEWS

• The Rajasthan Regional AI Impact Conference was held on Tuesday, 06 January 2026, marking a major milestone in India’s journey towards inclusive, ethical, and responsible Artificial Intelligence (AI).

Kerala Leads India in Personal Four-Wheeler Electric Vehicle Adoption (2025)

• Kerala recorded the highest share of personal four-wheeler electric vehicle adoption in 2025 among the top electric vehicle-selling states in India.
• The achievement is driven by strong household-level uptake, rather than fleet or commercial adoption, setting Kerala apart from larger and more industrialized states.
• Middle-class households in Kerala installed record numbers of private home charging boxes in 2025, making electric car ownership more convenient and cost-effective.
• This household-driven charging infrastructure expansion played a crucial role in enabling higher personal four-wheeler electric vehicle penetration.
• Unlike other states where growth is fleet-led, Kerala’s electric vehicle growth reflects rising individual consumer confidence, long-term fuel cost savings, and reliability of electric mobility.
• Kerala was among the first Indian states to announce an Electric Vehicle Policy in 2019, providing an early and strong foundation for adoption.
• Continuous policy support reduced adoption barriers, encouraged home charging solutions, and helped Kerala emerge as a mature electric vehicle market ahead of many larger states.
• Beyond four-wheelers, Kerala ranks joint highest in overall personal electric vehicle adoption (two-wheelers and four-wheelers) along with Karnataka.
• The electric vehicle-to-internal combustion engine vehicle penetration in Kerala is among the highest in India.
• In 2025, Kerala ranked second only to Delhi in electric vehicle-to-internal combustion engine vehicle penetration, indicating a structural shift in consumer transport choices.
• This consumer-led electric vehicle transition clearly distinguishes Kerala from states where adoption is largely driven by commercial or fleet vehicles.

RECENT NEWS

• The Kerala government has taken a major step towards biodiversity conservation by giving Aralam a new identity. The Aralam Wildlife Sanctuary in Kannur has now been officially renamed as the Aralam Butterfly Sanctuary. 

Delhi High Court on PM CARES Fund and Right to Privacy under RTI Act

• The Delhi High Court held that the PM CARES Fund enjoys the right to privacy under the Right to Information Act, 2005, even if it is considered a public authority.
• The judgment was delivered by a Division Bench led by Chief Justice Devendra Kumar Upadhyaya and Justice Tejas Karia.
• The Court clarified that performing public functions or being treated as “State” does not automatically extinguish the right to privacy of an entity.
• It observed that the PM CARES Fund is a juristic personality, and therefore cannot be denied privacy protection merely due to government control or supervision.
• The ruling is based on Section 8(1)(j) of the RTI Act, which exempts disclosure of personal or third-party information unless a larger public interest is clearly established.
• The Court emphasised that the right to privacy under RTI is statutory in nature, and not derived from Article 21 of the Constitution.
• It applies equally to all third parties, irrespective of whether they are public or private entities.
• The Bench clarified that RTI law does not differentiate between public and private third parties; trusts, societies, cooperatives, or individuals all enjoy privacy protection.
• The Court explained that public character alone does not nullify privacy rights, and mandatory third-party notice and due process must be followed before disclosure.
• The case originated from an RTI application by Girish Mittal, seeking disclosure of documents submitted by PM CARES Fund for income tax exemption.
• While the Central Information Commission (CIC) had ordered disclosure, a single judge of the Delhi High Court set aside the CIC order, leading to the present appeal before the Division Bench.
• The judgment reinforces the balance between transparency and privacy envisaged under the RTI Act, particularly through Section 8 exemptions.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Union Minister Jaishankar Launches BRICS India 2026 Chairship Logo, Theme, and Website

• Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), unveiled the logo, theme, and official website of India’s BRICS Chairship 2026 at a launch ceremony in New Delhi on January 13, 2026.
• Union Ministers of State (MoS) Pabitra Margherita and Kirti Vardhan Singh, MEA, were also present at the event.

Key Highlights :

• India will hold the BRICS Chairship from 1 January to 31 December 2026, marking its fourth tenure and coinciding with the 20th anniversary of BRICS.
• The theme of BRICS India Chairship 2026 is “Building for Resilience, Innovation, Cooperation and Sustainability”, inspired by PM Narendra Modi’s “Humanity First and People-centric”
• The theme focuses on strengthening capacities, promoting innovation, and ensuring sustainable and inclusive development.
• The BRICS India 2026 logo is inspired by the lotus flower, blending tradition with modernity to reflect inclusivity, dialogue, and shared growth.
• The lotus petals depict vibrant colours of BRICS members symbolising unity, while the central “Namaste” gesture conveys warmth, respect, and harmonious collaboration.
• The logo was selected through an open contest organized by MEA on the citizen engagement platform and designed by Sudeep Subhash Gandhi.
• The official website brics2026.gov.in was launched as a central platform for information dissemination during India’s Chairship.
• The website provides updates on meetings, initiatives, outcomes, and enhances transparency, engagement, and timely communication throughout 2026.
• India’s priorities for BRICS 2026 are Resilience, Innovation, Cooperation, and Sustainability to strengthen collective capacities and promote inclusive global development.
• India’s Chairship initiatives will align across Political and Security Cooperation, Economic and Financial Partnership, and Cultural and People-to-People Exchanges.

About BRICS :

• BRICS was formalised in 2006 at the UNGA as BRIC (Brazil, Russia, India, China) and held its first summit in 2009, Yekaterinburg, Russia.
• South Africa joined in September 2010, changing the acronym from BRIC to BRICS.
• Egypt, Ethiopia, Iran, and UAE joined in 2024, followed by Indonesia in 2025.
• BRICS has 10 partner countries, including Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan, and Vietnam.

German Chancellor Friedrich Merz’s India Visit Highlights: 12–13 January 2026

• Federal Chancellor of Germany, Friedrich Merz, visited India on a two-day official visit from 12 to 13 January 2026 at the invitation of PM Narendra Modi, marking his first official visit to India and the Asian region.
• On 12 January 2026, he arrived in Ahmedabad, Gujarat, and was formally welcomed by PM Narendra Modi.

Key Highlights :

• Friedrich Merz and PM Modi visited Sabarmati Ashram in Ahmedabad and paid floral tributes to Mahatma Gandhi.
• Both leaders inaugurated the International Kite Festival 2026 at Sabarmati Riverfront, Ahmedabad, as part of Uttarayan/Makar Sankranti
• They held a high-level bilateral meeting in Gandhinagar, Gujarat to review the India–Germany Strategic Partnership, which recently completed 25 years.
• Discussions focused on strengthening strategic ties across trade, investment, technology, defence, security cooperation, education, climate action, and sustainable development.
• The India–Germany CEO Forum held in Ahmedabad brought together leaders to boost economic ties and collaboration in Renewable Energy (RE).
• The India–Germany Centre of Excellence (CoE) was launched to promote shared knowledge and innovation.
• On 13 January 2026, Friedrich Merz arrived in Bengaluru and was received by M B Patil, Minister for Large and Medium Industries, Karnataka.
• He visited the Centre for Nano Science and Engineering (CeNSE) at IISc, Bengaluru, and the Bosch campus at Adugodi, where he was briefed on hydrogen-powered solutions and sustainable mobility.
• During the visit, 19 MoUs and Joint Declarations of Intent (JDoI) were signed.
• A JDoI on defence industrial cooperation was signed to strengthen bilateral defence and security ties.
• Three JDoIs were signed regarding the Semiconductor Ecosystem partnership, critical minerals, and telecommunications.
• An MoU between NIELIT and Infineon Technologies AG focused on semiconductor manufacturing and design.
• An MoU between AIIA (AYUSH) and Charite University, Germany was signed for traditional medicine
• An Offtake agreement on Green Ammonia was signed between AM Green (India) and Uniper Global Commodities (Germany).
• An Indo-German Roadmap on Higher Education was signed to enhance education cooperation.
• JDoI on Global Skill Partnerships and a National CoE for Skilling in Renewable Energy at NSTI Hyderabad were established.
• Germany announced visa-free transit for Indian passport holders, significantly strengthening people-to-people connections.
• India and Germany established a Track 1.5 Foreign Policy and Security Dialogue and a bilateral dialogue mechanism on the Indo-Pacific.
• Germany committed 24 billion Euros under the Green and Sustainable Development Partnership (GSDP) for projects like PM e-Bus SEWA and green hydrogen.
• Triangular Development Cooperation (TrC) projects will be scaled up in Ghana, Cameroon, and Malawi.
• Germany opened an Honorary Consulate in Ahmedabad to enhance regional engagement.

About Germany:

• President : Frank-Walter Steinmeier
• Chancellor : Friedrich Merz
• Capital : Berlin
• Currency : Euro (EUR).

India and Israel Sign Joint Declaration to Boost Cooperation in Fisheries and Aquaculture

• A high-level Indian delegation led by Union Minister Rajiv Ranjan Singh (Ministry of Fisheries, Animal Husbandry and Dairying) visited Israel from 13–15 January 2026 to participate in the Second Global Summit on “Blue Food Security: Sea the Future 2026” held in Eilat.
• The visit marked a significant step in strengthening India–Israel bilateral cooperation in the fisheries and aquaculture sector, recognising their shared commitment to sustainable development and food security.

Key Highlights :

• On 14 January 2026, India and Israel signed a Joint Ministerial Declaration of Intent to enhance collaboration in fisheries and aquaculture.
• The Declaration envisages setting up Indo–Israel Centres of Excellence for Fisheries and Aquaculture to strengthen the Blue Economy, promote innovation, trade, climate resilience, and economic growth in both countries.
• Key areas of cooperation include joint R&D in advanced aquaculture technologies such as Recirculating Aquaculture Systems (RAS), biofloc, cage culture, aquaponics, and aquarium/oceanarium systems.
• Collaboration also covers breeding high-yield species, pathogen-free seed improvement, broodstock development, genetic improvement programs, mariculture (including seaweed cultivation), and water management using Israeli water-saving technologies.
• The Declaration emphasizes support for start-ups in fisheries and aquaculture and aims to strengthen cooperation in advancing the Blue Economy.
• Both countries will promote sustainable and responsible fishing practices to conserve marine resources, reduce environmental impacts, and ensure long-term resilience of fisheries.
• Cooperation includes technology-based fisheries monitoring, data collection systems, evidence-based management, traceability, and addressing the socio-economic needs of fishing communities.
• Capacity building initiatives will focus on deep-sea fishing, vessel design and development, coastal aquaculture, and marine resource conservation through technology and innovation.
• The Declaration allows exchange programs for fishers, aqua farmers, scientists, and policymakers, along with training in modern fish processing, marketing, and infrastructure development including fishing harbours and fish landing centers.
• The agreement promotes bilateral trade by addressing tariff and non-tariff barriers and supporting technology-driven traceability systems in fisheries and aquaculture.
• The initiative aims to establish new Indo–Israel Centres of Excellence in fisheries and aquaculture, similar to the existing 43 agricultural Centres of Excellence under Indo–Israel collaboration.
• The landmark agreement is expected to boost innovation, sustainability, and economic growth in the fisheries and aquaculture sectors, reinforcing both countries’ commitment to food security and climate-resilient development.

About Israel :

• Capital : Jerusalem
• Currency : Israeli New Shekel.

European Council President Costa and European Commission President von der Leyen to Attend 77th Republic Day as Chief Guests

• European Council President António Costa and European Commission President Ursula von der Leyen will visit India from 25–27 January 2026 as Chief Guests for the 77th Republic Day celebrations, at the invitation of Prime Minister Narendra Modi.
• The leaders will co-chair the 16th India-EU Summit on 27 January 2026, according to the Ministry of External Affairs (MEA).
• An India-EU Business Forum will be held on the sidelines of the summit to strengthen economic cooperation.
• India and the European Union (EU) have been strategic partners since 2004, with cooperation expanding across political, economic, and strategic areas.
• The 15th India-EU Summit was held virtually on 15 July 2020, while ties gained momentum after the EU College of Commissioners’ historic visit to India in February 2025.
• The European Commission is the executive body of the European Union, consisting of 27 members, also known as the College of Commissioners.
• During the visit, President Costa and President von der Leyen will meet President Droupadi Murmu and hold restricted and delegation-level talks with Prime Minister Narendra Modi.
• The participation of EU leaders as Chief Guests and their co-chairing of the 16th India-EU Summit will deepen the India-EU Strategic Partnership and advance collaboration in priority areas of mutual interest.

CURRENT AFFAIRS: AWARDS AND HONOURS

Pawan Kalyan Becomes First Indian Inducted into Samurai Kenjutsu Tradition

• Andhra Pradesh Deputy Chief Minister Pawan Kalyan has become the first Indian to be formally inducted into Kenjutsu, an ancient Japanese samurai swordsmanship tradition.
• This honour is extremely rare for non-Japanese practitioners and is usually conferred only in exceptional cases outside Japan, highlighting its global significance.
• The induction places Pawan Kalyan among a select group of international practitioners, reflecting India’s growing presence in global cultural and martial traditions.
• Kenjutsu is a classical Japanese martial art rooted in samurai warfare techniques and philosophy.
• It emphasises discipline, precision, mental balance, ethical conduct and respect for tradition.
• Traditionally, Kenjutsu training and recognition are restricted to Japan, making foreign induction highly uncommon.
• Pawan Kalyan’s induction signifies technical mastery as well as acceptance into a centuries-old cultural lineage of samurai heritage.
• With this recognition, Pawan Kalyan joins a very small group of Indians inducted into samurai martial traditions outside Japan.
• Earlier, Pawan Kalyan was also inducted into the Takeda Shingen Clan, a historically significant samurai lineage.
• This honour was conferred under the guidance of Soke Muramatsu Sensei, making him the first Telugu-speaking individual to receive such recognition.
• Such honours are rarely extended to non-Japanese practitioners, underlining the exceptional nature of his martial arts journey.
• His training in Kendo and Budo philosophy was guided by Hanshi Professor Dr. Siddiq Mahmoodi.
• The recognition carries cultural and diplomatic significance, symbolising cross-cultural respect and exchange between India and Japan.
• Samurai martial arts such as Kenjutsu, Kendo and Budo originated in feudal Japan and emphasise honour, discipline and mastery of mind and body.

Karnataka Bank Wins IBA Banking Technology Award 2026

• Karnataka Bank emerged as the winner in the ‘Best Fintech & Digital Public Infrastructure (DPI) Adoption’ category at the Indian Banks’ Association (IBA) Banking Technology Awards 2026.
• The recognition highlights the bank’s strong focus on fintech innovation, digital banking solutions, and adoption of Digital Public Infrastructure in India’s evolving banking ecosystem.
• The award reflects Karnataka Bank’s effective integration of digital payments, online banking platforms, and backend technology systems, aligned with regulatory standards and customer-centric requirements.
• In addition to the main award, Karnataka Bank was adjudged runner-up in the ‘Best Tech Talent’ category, underscoring its emphasis on building skilled digital and information technology teams.
• The bank also received Special Mention in multiple categories, including Best Technology Bank, Best Digital Financial Inclusion, and Best Digital Sales, indicating balanced performance across innovation, inclusion, and customer outreach.
• Digital Public Infrastructure, such as Unified Payments Interface, Aadhaar, and digital Know Your Customer systems, forms the backbone of India’s financial ecosystem, enabling efficiency, inclusion, and cost reduction.
• Karnataka Bank’s recognition demonstrates how traditional banks can successfully leverage fintech and DPI to remain agile, inclusive, and technologically advanced.
• The IBA Banking Technology Awards are organised annually by the Indian Banks’ Association to recognise excellence in digital transformation, innovation, cybersecurity, and technology adoption in the banking sector, making them relevant from a competitive examinations perspective.

Biologist Toby Kiers Wins Tyler Prize for Environmental Achievement

• American evolutionary biologist Toby Kiers has won the Tyler Prize for Environmental Achievement for her groundbreaking research on underground mycorrhizal fungal networks and their role in climate regulation and ecosystem stability.
• Her work has transformed the scientific understanding of fungi, shifting their image from passive organisms to active drivers of planetary health.
• Mycorrhizal fungal networks are vast underground systems that connect plant roots across forests, grasslands, and farmlands.
• In this symbiotic relationship, plants provide fungi with carbon-rich sugars and fats produced through photosynthesis.
• In return, fungi supply plants with essential nutrients such as phosphorus and nitrogen from the soil.
• These networks function at a massive ecosystem scale, linking plants into shared systems that enhance growth, resilience, and survival.
• Kiers’ research revealed that mycorrhizal fungi play a major role in regulating Earth’s climate.
• Collectively, these fungi draw down more than 13 billion tonnes of carbon dioxide every year, storing carbon in soils and plant systems.
• In a landmark 2011 study, Kiers demonstrated that fungi operate within a biological marketplace.
• Experiments showed that fungi allocate nutrients strategically, moving them from areas of abundance to areas of scarcity.
• They also demand higher carbon rewards from plants that need nutrients the most.
• Notably, this complex negotiation occurs without a brain or nervous system, challenging traditional ideas about intelligence and information processing in living systems.
• The Tyler Prize for Environmental Achievement is one of the world’s most prestigious environmental awards, often referred to as the “Nobel Prize for the Environment.”

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Rakesh Aggarwal Appointed as National Investigation Agency’s Director General Until 31 August 2028

• Rakesh Aggarwal, a 1994-batch IPS officer of the Himachal Pradesh cadre, has been appointed as Director General (DG) of the National Investigation Agency (NIA) until 31 August 2028, the date of his superannuation, or until further orders.
• The Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, approved his appointment following the premature repatriation of former NIA DG Sadanand Vasant Date to his parent cadre, Maharashtra.
• Rakesh Aggarwal previously served as Special DG of NIA from September 2025, after being temporarily upgraded from Additional Director General (ADG) for two years.
• He was also appointed as Interim Chief of NIA in December 2025, before assuming the full DG charge.
• Shatrujeet Singh Kapoor, a 1990-batch IPS officer of the Haryana cadre, has been appointed as the Director General of the Indo-Tibetan Border Police (ITBP).
• Praveen Kumar, a 1993-batch IPS officer of the West Bengal cadre, has been appointed as the Director General of the Border Security Force (BSF) until 30 September 2030.
• These appointments are part of a major leadership reshuffle across key internal security agencies of India.
• The National Investigation Agency (NIA) is the principal counter-terrorism law enforcement agency in India, founded on 31 December 2008.
• The Indo-Tibetan Border Police (ITBP) is a central armed police force under the Ministry of Home Affairs, responsible for guarding India’s border with Tibet Autonomous Region of China, formed after the Sino-Indian War of 1962.
• The Border Security Force (BSF) is a central armed police force under the Ministry of Home Affairs, responsible for guarding India’s borders with Pakistan and Bangladesh, formed after the Indo-Pak War of 1965 to ensure border security and related matters.

CURRENT AFFAIRS : APPS & PORTALS

Karnataka rolls out Gruha Lakshmi Digital Marketing Portal to empower women entrepreneurs

• The Department of Women and Child Development (DWCD), Government of Karnataka launched the ‘Gruha Lakshmi Digital Marketing’ portal at Karmani Utsav–2026 in Bengaluru to promote women entrepreneurship, economic independence, and digital inclusion.
• The purpose of the portal is to enable women entrepreneurs to sell handicrafts, food items, jewellery, clothing, and traditional products globally while showcasing Karnataka’s culture.
• Registration is available online at org, through District In-charge Officers, or at the Department Head Office.
• The initiative offers a state-backed, user-friendly e-commerce platform along with vocational training and financial support to strengthen business skills and digital marketing capabilities.
• Verified women entrepreneurs are enrolled on the platform to ensure product authenticity and credibility.
• The portal is an extension of the flagship Gruha Lakshmi Scheme, under which women heads of eligible households in Karnataka receive ₹2,000 per month.
• The initiative is guided by Chief Minister Siddaramaiah and Deputy Chief Minister D.K. Shivakumar, spearheaded by Lakshmi Hebbalkar (Minister, Women and Child Development, Karnataka).
• The programme is implemented through the Karnataka State Women’s Development Corporation, under the chairpersonship of Padmavathi.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Ministry of Information & Broadcasting,Principal Scientific Adviser, and Netflix Fund Launch ‘Inspiring Innovators – Naye Bharat Ki Nayi Pehchaan’ Skilling Initiative

• The Ministry of Information & Broadcasting (MIB), in partnership with the Office of the Principal Scientific Adviser (PSA), Government of India (GoI), and the Netflix Fund for Creative Equity, launched the ‘Inspiring Innovators – Naye Bharat Ki Nayi Pehchaan’ skilling initiative.
• The initiative was implemented in collaboration with Graphiti Studios to connect India’s innovation and creative ecosystems and promote socially relevant innovation through storytelling and practical skilling.
• The initiative features eight short animated films created by students from eight universities across India, highlighting the work of eight Indian start-ups identified by the PSA for their contributions to social-impact innovation.
• A cohort of 26 students from diverse regions participated, with women representing 50% of participants, gaining hands-on experience and mentorship from industry experts.
• Student voiceovers for the animated films were produced through Voicebox, a Netflix-led skilling initiative in collaboration with the National Film Development Corporation (NFDC).

University of New South Wales to Launch Bengaluru Campus by August 2026, Providing Global Education

• The University of New South Wales (UNSW), a leading Australian university, announced plans to establish a new campus at Manyata Tech Park, Bengaluru, Karnataka by August 2026.
• The announcement followed the signing of a Memorandum of Understanding (MoU) between Attila Brungs (UNSW) and Dr. S. Selvakumar, Principal Secretary, Department of Industries, Government of Karnataka at Vidhana Soudha, Bengaluru.
• In the initial phase, UNSW will offer Under-Graduate (UG) programmes in commerce, media, computer science, and data science, along with a Post-Graduate (PG) programme in cybersecurity.
• UNSW plans to set up a campus at the upcoming Knowledge, Wellbeing, and Innovation (KWIN) City near Bengaluru in the future phase.
• The initiative is aligned with the India–Australia Education and Research Cooperation Programme (2025–2030).
• Apart from UNSW, the University of Liverpool (England) and the University of Lancaster (England) have also announced plans to open campuses in Bengaluru.

Wikipedia Partners with Microsoft, Meta, Amazon, and AI Startups to Monetise Content

• Wikipedia (Wikimedia Foundation) has entered partnerships with Big Tech firms such as Microsoft, Meta, Amazon, along with AI startups like Perplexity and France’s Mistral AI to monetise corporate use of its content.
• The new partners include Microsoft, Meta, Amazon, Perplexity, and Mistral AI, adding to an earlier deal with Google signed in 2022.
• These agreements allow AI firms to pay for structured, high-volume access to Wikipedia’s content instead of scraping it freely for training large language models (LLMs).
• Bernadette Meehan, former US Ambassador to Chile, has been named Wikipedia’s new Chief Executive, effective 20th January 2026.
• Wikipedia was founded by Jimmy Wales and Larry Sanger in 2001, launching as a free, collaborative online encyclopedia.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Tamil Nadu Signs MoU with Sarvam AI to Establish Sovereign AI Park

• The Tamil Nadu government signed a Memorandum of Understanding (MoU) with Sarvam AI to set up a full-stack Sovereign AI Park.
• The project involves an initial investment of ₹10,000 crore and is expected to generate around 1,000 high-skilled jobs in advanced computing and artificial intelligence research.
• The Sovereign AI Park will function as a purpose-built AI district, integrating model development labs, innovation clusters, secure data frameworks, high-end compute infrastructure, and a dedicated Institute for AI in Governance.
• Sarvam AI co-founder Pratyush Kumar stated that the project aims to move AI from experimentation to real-world national-scale impact in India.
• The investment will be primarily focused on compute infrastructure and graphics processing units (GPUs).
• The platform will support large-scale AI applications across education, healthcare, agriculture, and citizen services, with academia playing a key role.
• A large data centre will be established near the IIT Madras campus in Chennai, with public data digitised for evidence-based policymaking, outcome evaluation, and private sector usage.
• A plot of land near IIT Madras Research Park has already been identified for the project.
• IIT Madras Director V Kamakoti stated that artificial intelligence will define the next generation of jobs, similar to how manufacturing and IT shaped earlier generations.
• These efforts aim to make future AI systems in Tamil Nadu locally rooted, inclusive, and accurate.
• The project’s ₹10,000 crore investment is nearly equivalent to the Central Government’s ₹10,371 crore outlay under the IndiaAI Mission.
• The Central Government has already selected Sarvam AI to build India’s sovereign Large Language Model (LLM) under the IndiaAI initiative, making it the first company to receive funds from a pool of 67 applicants.
• In April 2025, Pratyush Kumar revealed that a central government body would take an equity stake in Sarvam AI in exchange for compute resources.
• With both the Central Government and Tamil Nadu government partnering with Sarvam AI, coordinated efforts are underway to strengthen India’s AI development ecosystem.

CURRENT AFFAIRS: RANKING AND INDEX

Maharashtra Tops NITI Aayog’s Export Preparedness Index 2024

• NITI Aayog released the Export Preparedness Index (EPI) 2024, which assesses the export readiness and performance of Indian States and Union Territories.
• Maharashtra secured the 1st rank among Large States, followed by Tamil Nadu and Gujarat.
• The index evaluates performance during FY 2021–22 to FY 2023–24 and highlights regional strengths, gaps and opportunities as India expands global trade through Free Trade Agreements (FTAs) and Economic Partnership Agreements.
• The EPI 2024 framework is based on 4 pillars, 13 sub-pillars and 70 indicators, using a data-driven and weighted methodology with inputs from Central and State government sources.
• The four pillars of EPI 2024 include:
  • Export Infrastructure (20%), covering trade and logistics infrastructure, connectivity, utilities and industrial infrastructure.
  • Business Ecosystem (40%), including macroeconomic stability, cost competitiveness, human capital, access to finance, MSME ecosystem, and industrial and innovation environment.
  • Policy and Governance (20%), assessing state export policy, institutional capacity, regulatory environment, compliance and trade facilitation.
  • Export Performance (20%), focusing on export outcomes, diversification, global integration and export promotion mechanisms.
• For comparative assessment and peer learning, States and UTs are grouped into Large States, Small States, North Eastern States and Union Territories.
• Each group is further classified into Leaders, Challengers and Aspirers, based on export preparedness levels.
• Among Large States (Leaders category), the top performers were Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh and Andhra Pradesh, reflecting strong outcomes across infrastructure, governance, business ecosystem and export performance.
• In the combined category of Small States, North Eastern States and Union Territories, the Leaders were Uttarakhand, Jammu and Kashmir, Nagaland, Dadra and Nagar Haveli and Daman and Diu, and Goa, despite structural and geographic constraints.
• Madhya Pradesh, Haryana, Kerala and West Bengal were placed in the Challengers category among Large States, indicating moderate preparedness with scope for improvement.
• Odisha, Chhattisgarh, Rajasthan, Bihar and Jharkhand were classified as Aspirers, highlighting the need for targeted policy interventions.
• Among Union Territories, Delhi ranked 12th and was placed in the Challenger category, along with Meghalaya, Ladakh and Himachal Pradesh.
• A key feature of EPI 2024 is its increased focus on districts as the core units for export strategy implementation, emphasising local capabilities, industrial clusters and value-chain linkages.

Daily CA One- Liner: January 17

• The 9th International Spice Conference (ISC 2026) will be held in Kochi, Kerala, from 23 to 26 February 2026
• Bamanwas Kankar Panchayat in Rajasthan has been declared the state’s first fully organic village body, covering seven hamlets
• Kerala recorded the highest share of personal four-wheeler electric vehicle adoption in 2025 among the top electric vehicle-selling states in India.
• The Delhi High Court held that the PM CARES Fund enjoys the right to privacy under the Right to Information Act, 2005, even if it is considered a public authority
• Andhra Pradesh Deputy Chief Minister Pawan Kalyan has become the first Indian to be formally inducted into Kenjutsu, an ancient Japanese samurai swordsmanship tradition
• Karnataka Bank emerged as the winner in the ‘Best Fintech & Digital Public Infrastructure (DPI) Adoption’ category at the Indian Banks’ Association (IBA) Banking Technology Awards 2026
• American evolutionary biologist Toby Kiers has won the Tyler Prize for Environmental Achievement for her groundbreaking research on underground mycorrhizal fungal networks and their role in climate regulation and ecosystem stability
• The Tamil Nadu government signed a Memorandum of Understanding (MoU) with Sarvam AI to set up a full-stack Sovereign AI Park
• NITI Aayog released the Export Preparedness Index (EPI) 2024, which assesses the export readiness and performance of Indian States and Union Territories
• The Department of Financial Services (DFS), Ministry of Finance, has advised Public Sector Banks to introduce a Composite Salary Account Package to enhance the financial well-being and social security of Central Government employees.
• The World Bank Group (WBG) released its flagship report titled “Global Economic Prospects (GEP): January 2026”, which projected India’s GDP growth at 7.2% in FY26, revised upward from the 3% forecast in June 2025.
• The Government of India has launched Paripoorna Mediclaim Ayush Bima as an optional retail health insurance product for Central Government Health Scheme (CGHS)
• Karnataka Bank Limited has enabled its net banking platform to support payment and receipt of electronic receipts (e-receipts) for Government of Karnataka transactions through the Khajane-2 system.
• The Pension Fund Regulatory and Development Authority (PFRDA), a statutory body under the Ministry of Finance (MoF), has constituted a 15-member high-level expert committee to formulate a regulatory framework for assured payouts under the National Pension System (NPS).
• Union Minister Dr. Subrahmanyam Jaishankar, Ministry of External Affairs (MEA), unveiled the logo, theme, and official website of India’s BRICS Chairship 2026 at a launch ceremony in New Delhi on January 13, 2026.
• Federal Chancellor of Germany, Friedrich Merz, visited India on a two-day official visit from 12 to 13 January 2026 at the invitation of PM Narendra Modi, marking his first official visit to India and the Asian region.
• A high-level Indian delegation led by Union Minister Rajiv Ranjan Singh (Ministry of Fisheries, Animal Husbandry and Dairying) visited Israel from 13–15 January 2026 to participate in the Second Global Summit on “Blue Food Security: Sea the Future 2026” held in Eilat.
• European Council President António Costa and European Commission President Ursula von der Leyen will visit India from 25–27 January 2026 as Chief Guests for the 77th Republic Day celebrations, at the invitation of Prime Minister Narendra Modi.
• Rakesh Aggarwal, a 1994-batch IPS officer of the Himachal Pradesh cadre, has been appointed as Director General (DG) of the National Investigation Agency (NIA) until 31 August 2028, the date of his superannuation, or until further orders.
• The Department of Women and Child Development (DWCD), Government of Karnataka launched the ‘Gruha Lakshmi Digital Marketing’ portal at Karmani Utsav–2026 in Bengaluru to promote women entrepreneurship, economic independence, and digital inclusion.
• CSIR-National Institute of Science Communication and Policy Research (CSIR-NIScPR) celebrated its 5th Foundation Day highlighting its growing role in science communication, policy research, and Artificial Intelligence (AI).
• The Ministry of Information & Broadcasting (MIB), in partnership with the Office of the Principal Scientific Adviser (PSA), Government of India (GoI), and the Netflix Fund for Creative Equity, launched the ‘Inspiring Innovators – Naye Bharat Ki Nayi Pehchaan’ skilling initiative.
• The University of New South Wales (UNSW), a leading Australian university, announced plans to establish a new campus at Manyata Tech Park, Bengaluru, Karnataka by August 2026.

Wikipedia (Wikimedia Foundation) has entered partnerships with Big Tech firms such as Microsoft, Meta, Amazon, along with AI startups like Perplexity and France’s Mistral AI to monetise corporate use of its content.