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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Recognises FEDAI as Self-Regulatory Organisation for Forex Authorised Dealers

• The Reserve Bank of India (RBI) has recognised the Foreign Exchange Dealers’ Association of India (FEDAI) as a Self-Regulatory Organisation (SRO) for all Authorised Dealers (ADs) in the foreign exchange market.

Key Highlights :

• FEDAI was recognised under the RBI’s Omnibus Framework for recognition of SROs for Regulated Entities, aimed at strengthening market discipline, transparency, and self-regulation.
• As an SRO, FEDAI will set standards, promote best practices, and ensure compliance among authorised dealers, subject to RBI’s regulatory oversight.
• RBI has given FEDAI one year to align its governance structure and operations with the Omnibus SRO Framework.
• During this period, FEDAI must extend its membership to all categories of Authorised Dealers (ADs) operating in the forex market.
• FEDAI was established in 1958 as an association of banks dealing in foreign exchange.
• It is incorporated as a Section 8 company under the Companies Act, 2013 (formerly Section 25 of the 1956 Act).
• FEDAI frames inter-bank foreign exchange rules and acts as a liaison between banks and the RBI to support the development of India’s forex market.
• As per RBI norms, an SRO must have a minimum net worth of ₹2 crore within one year of recognition or before commencing operations.
• The shareholding of an SRO must be sufficiently diversified, and no single entity should hold 10% or more of the paid-up share capital, either individually or in concert.
• At least one-third of the Board members, including the Chairperson, must be independent directors and should have no active association with any fintech entity.
• The recognition of FEDAI as an SRO is a significant step towards enhancing consistency, accountability, and market integrity in India’s foreign exchange market.

Reserve Bank of India Grants In-Principle Approval to SMBC, Japan, to Set Up Wholly-Owned Subsidiary in India

• The Reserve Bank of India (RBI) has granted in-principle approval to Sumitomo Mitsui Banking Corporation (SMBC), Japan, to establish a Wholly-Owned Subsidiary (WOS) in India.

Key Highlights :

• A WOS is a separate legal entity, allowing a foreign bank to operate like a domestic bank, including opening new branches freely without prior RBI approval.
• SMBC will convert its existing four branches in Delhi, Mumbai, Chennai, and Bengaluru into the WOS, enhancing operational flexibility and growth opportunities in the Indian banking market.
• This follows SMBC’s 24.22% stake acquisition in YES Bank in 2025, making it the largest shareholder and strengthening the YES Bank–SMBC partnership for cash management and non-lending services to global and domestic corporations.
• RBI mandates foreign banks to operate in India either via branches or a WOS under the “single-mode presence” principle, based on global financial-stability lessons from the 2008 crisis.
• Foreign banks must obtain home country regulator approval before establishing a WOS in India.
• WOSs must be under adequate prudential and consolidated supervision as per international standards.
• Foreign banks operating through branches after August 2010 must convert to a WOS if they become systemically important in India (Indian assets > 0.25% of total SCB assets).
• WOSs of foreign banks are legally treated as “foreign banks” under FEMA (Non-Debt Instruments) Rules, 2019 and RBI Foreign Investment Master Directions.
• If foreign banks (WOS + branches) hold >20% of total capital and reserves of the Indian banking system, RBI restricts entry of new WOSs, and any capital infusion into existing WOSs requires prior RBI
• A WOS must have minimum paid-up voting equity capital of ₹500 crore at the time of establishment.
• WOSs must comply with Basel III norms, maintaining a minimum capital adequacy ratio of 10% for the first three years (1% above Basel III requirement) along with capital conservation and regulatory buffers.
• At least 50% of directors must be Indian nationals / NRIs / PIOs, with one-third resident Indian nationals.
• A WOS must have a Part-time Chairman and a full-time CEO, with the CEO being resident in India.
• WOSs are governed by all major Indian financial laws, including the Companies Act, Banking Regulation Act, RBI Act, FEMA, Payment & Settlement Systems Act, and RBI prudential directions.
• Foreign banks with <20 branches converting to a WOS are given up to five years to meet Priority Sector Lending (PSL) targets, as per an RBI-approved action plan.
• A WOS may dilute shareholding to ≤74% in line with India’s FDI policy and can list on Indian stock exchanges.
• After in-principle approval, the WOS must be registered under Companies Act, 2013 and then apply to RBI for a banking licence under Section 22 of the Banking Regulation Act, 1949.

Reserve Bank of India Directs Banks and Eligible non-banking financial companies to Implement Automated Complaint Management System with Internal Ombudsman/Deputy IO Access

• The Reserve Bank of India (RBI) has mandated banks and eligible non-banking financial companies (NBFCs) to implement a fully automated Complaint Management System (CMS) with direct access for the Internal Ombudsman (IO) and Deputy IO (DIO).

Key Highlights :

• The Internal Ombudsman (IO) must be a retired or serving officer of rank equivalent to General Manager in RBI, a regulated entity, or a Financial Sector Regulatory Body.
• The IO must have at least 7 years’ experience in banking, NBFCs, regulation, supervision, payment systems, credit information, or consumer protection.
• The IO must not be above 70 years of age during the tenure period.
• One person may act as IO for more than one regulated entity, but this requires Board or CSC
• Every bank is mandatorily required to appoint at least one IO.
• The Customer Service Committee (CSC) of the Board must review annually and decide the number of IOs and DIOs
• IO and DIO appointments are made on a contractual basis; the post of IO must never be vacant, and the DIO functions as IO during temporary absence.
• The tenure of IO/DIO is at least 3 years, with a maximum total tenure of 5 years, including extensions.
• IO/DIO cannot be removed before tenure completion without CSC approval.
• Partially resolved or rejected complaints must be automatically escalated to the IO for independent review.
• Banks must classify complaints as “fully resolved”, “partially resolved”, or “wholly rejected” before escalation to the IO.
• For complaints governed by RBI, NPCI, or card-network timelines, the IO must get at least 10 days for review; for all other complaints, 20 days.
• The IO will not accept complaints directly from customers and only reviews cases already examined by the bank.
• The final decision must be communicated to the customer within 30 days from receipt of the complaint.
• Only a Whole-Time or Executive Director can overrule an IO’s decision, and all such cases must be placed before the Board’s CSC.
• The rules apply to banks with 10+ branches, deposit-taking NBFCs, and large NBFCs (₹5,000 crore+) with public interface, with some NBFC categories excluded.
• The framework also applies to small finance banks, payments banks, prepaid payment issuers, and credit information companies (CICs).

India’s Wholesale Inflation Rises to 0.83% in December, First Positive year-on-year After Two Months of Deflation

• Wholesale inflation (WPI) rose to 0.83% in December 2025, marking the first positive year-on-year print after two months of deflation and the highest in eight months.
• This was a significant increase from –0.32% in November 2025.

Key Highlights :

• The Wholesale Price Index (WPI) measures price changes of goods sold and traded in bulk by wholesalers to businesses, released monthly by the Office of the Economic Adviser (Ministry of Commerce and Industry).
• The base year of WPI is 2011-12, which serves as the reference period for all price comparisons.
• The largest component of WPI is Manufactured Goods with a weight of 64.23%, covering sectors like textiles, chemicals, metals, cement, plastics, and paper.
• The hardening in wholesale inflation was primarily due to the reversal of contraction in food prices, with food inflation stabilising at 0% in December versus –2.6% in November.
• Primary food articles saw a deflation of –0.43% in December, improving from –4.16% in November, driven by narrowing deflation in:
• Vegetables: –3.5%
• Cereals: –1.18%
• Pulses: –13.88%
• Onions: –54.40%
• Paddy (0.15%) and fruits (1.97%) showed inflationary pressures in December, compared to price declines in November.
• Core inflation (excluding volatile food and fuel items) rose to a 34-month high of 2% in December, up from 1.5% in November.
• Manufactured products inflation climbed to a three-month high of 1.82% in December, up from a 14-month low of 1.33% in November, reflecting industrial goods price pressures.
• Experts expect WPI inflation to edge up marginally due to a low base effect, averaging around 0.4% in FY26.
• Global commodity prices have continued to rise sequentially in January 2026, led by precious metals and some industrial metals, though oil prices have cooled.
• The rise in retail inflation (CPI) to 1.33% in December (from 0.71% in November) is linked to narrowing food deflation and waning favourable base effects.

Canara Bank Joins Hands with NBSL to Offer UPI Services via Canara ai1Pe App

• Canara Bank has partnered with NPCI BHIM Services Limited (NBSL) to integrate bank plug-ins for providing UPI services on its Canara ai1Pe banking app.
• Through this partnership, Canara Bank can host the latest UPI features and upgrades developed for the BHIM app directly within its own application.
• Canara Bank is the first bank in India to adopt this NBSL plug-in-based UPI delivery model.
• The system allows white-labelling of BHIM’s technology stack, enabling banks to offer UPI services while focusing on core banking operations.
• The model was demonstrated through BHIM Vishwas, a proof-of-concept launched in 2025.
• NBSL is a wholly-owned subsidiary of NPCI, formed in June 2024, and manages BHIM, which was originally launched in 2016 by Prime Minister Narendra Modi.
• The integration supports improved security, operational resilience, and scalability, while helping the bank reduce cost and resources for developing and maintaining an independent UPI interface.
• The white-label approach allows banks to leverage the BHIM technology stack while continuing to focus on core banking features.
• The initiative reflects the growing trend of plug-in based digital payments solutions in India’s UPI ecosystem.

State Bank of India Hikes ATM Charges from December 1, 2025 Amid Rising Interchange Fees

• State Bank of India (SBI) has increased ATM charges effective from December 1, 2025, due to higher interchange fees paid when customers use other banks’ ATMs.
• Savings account holders continue to get five free transactions per month at non-SBI ATMs.
• After exhausting free transactions, cash withdrawals at non-SBI ATMs will cost ₹23 + GST (earlier ₹21 + GST).
• Non-financial transactions (such as balance enquiry) at non-SBI ATMs will now cost ₹11 + GST (earlier ₹10 + GST).
• The maximum impact of the revised charges is on salary account holders, who earlier enjoyed unlimited free transactions but are now capped at 10 free transactions per month at non-SBI ATMs.
• BSBD accounts, transactions at SBI ATMs, and cardless cash withdrawals at SBI ATMs remain unaffected by the ATM charge hike.
• SBI has also introduced new charges on high-value IMPS transfers, effective from 15 February 2026.
• IMPS transfers up to ₹10,000 will remain free across online and branch channels.
• For ₹10,000–₹25,000, online IMPS remains free, while branch IMPS continues to be charged ₹4 + GST.
• For ₹25,000–₹1 lakh, online IMPS will now cost ₹2 + GST, which was earlier free.
• For ₹1 lakh–₹2 lakh, online IMPS charges will be ₹6 + GST, and for ₹2 lakh–₹5 lakh, charges will be ₹10 + GST.
• Salary and special accounts such as defence (DSP), central government (CGSP), pension (PSP), railways (RSP), and Shaurya Family Pension accounts are exempted from the IMPS charge hike.

Organisation for Economic Co-operation and Development Finalises Global Minimum Corporate Tax Deal with US and Over 100 Countries

• The Organisation for Economic Co-operation and Development (OECD) has finalised an agreement on the global minimum corporate tax, with participation from the United States and over 100 countries.
• The agreement includes a carve-out that effectively exempts U.S.-based multinational companies from the 15% global minimum tax framework negotiated under the OECD.
• In return for the exemption, other countries will be barred from imposing additional or compensatory taxes on the foreign subsidiaries of U.S. multinational corporations.
• U.S. officials argued that American companies already face a minimum tax burden through a 15% domestic corporate minimum tax and the U.S. international tax regime.
• The global minimum tax framework was originally designed to curb profit shifting and tax avoidance by large multinational corporations operating in low-tax jurisdictions.

About OECD :

• The OECD is an intergovernmental organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade.
• Headquarters : Paris, France.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Andhra Pradesh to Host World’s Largest Green Ammonia Project at Kakinada

• Andhra Pradesh will host the world’s largest green ammonia project at Kakinada, being developed by AM Green, with a total investment of USD 10 billion.
• The project aims to achieve a final production capacity of 1.5 million tonnes per annum (MTPA) by 2030, supporting India’s first green ammonia exports.
• The facility is being developed through the conversion of an existing ammonia-urea complex at Kakinada, enabling faster scaling and cost efficiency.
• Phased commissioning plan includes 0.5 MTPA by 2027, 1.0 MTPA by 2028, and full capacity by 2030, making it the largest green ammonia project globally.
• The project will be powered entirely by renewable energy, supported by around 7.5 GW of solar and wind capacity, nearly 1,950 MW of electrolyser capacity, and close to 2 GW of round-the-clock renewable power.
• Energy storage will be ensured through pumped hydro storage projects, including the Pinnapuram Pumped Storage Project in Andhra Pradesh, ensuring uninterrupted clean power supply.
• The project will enable India’s first green ammonia exports, with planned offtake to Germany, Japan and Singapore.
• AM Green has signed a long-term supply agreement with Uniper (Germany) and is in advanced discussions with buyers in Japan and Singapore, positioning India as a reliable global supplier of clean fuels.
• The project is expected to generate up to 8,000 jobs during construction, along with significant long-term employment during operations and indirect jobs in renewable energy, logistics, ports and ancillary industries.
• Green ammonia is produced using renewable electricity and green hydrogen, eliminating carbon emissions from conventional production and supporting decarbonisation of fertilisers, shipping and power sectors.
• The project aligns with India’s National Green Hydrogen Mission, helps reduce import dependence in fertilisers, and strengthens India’s climate commitments and energy security.

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 Post Delivers First Online Order Through Open Network for Digital Commerce Platform

• The Department of Posts successfully delivered its first-ever online order through the Open Network for Digital Commerce (ONDC), marking its entry as a Logistics Service Provider (LSP) on the platform.
• The first online consignment was booked and delivered within two days, demonstrating India Post’s operational readiness in a digital commerce environment.
• The order was placed by UdyamWell, an ONDC-enabled initiative that supports rural entrepreneurs and Bharatpreneurs.

• The Open Network for Digital Commerce (ONDC) is a transformative initiative by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce, Government of India aimed at democratizing digital commerce.
• Launched in April 2022, ONDC is an initiative aiming at promoting open networks for all aspects of exchange of goods and services over digital or electronic networks.

• Through integration with ONDC, sellers using ONDC-enabled buyer applications can select India Post for parcel pickup, booking, transportation and last-mile delivery.
• This integration enables interoperable and platform-agnostic logistics services, offering wider choice to sellers, especially MSMEs and small businesses with limited access to private logistics networks.
• India Post is currently operating on ONDC under the “Click & Book” model, allowing sellers to digitally generate pickup requests and choose India Post as their logistics partner.
• Under this model, postage is collected at the time of pickup, while consignments are inducted, tracked and delivered through India Post’s technology-enabled logistics systems, reducing manual paperwork.
• India Post’s participation is expected to lower logistics barriers, improve market access for MSMEs, and support inclusive e-commerce growth, particularly for artisans, farmers and rural entrepreneurs.
• ONDC is a government-backed initiative aimed at creating an open and interoperable digital commerce ecosystem in India.
• With one of the largest postal networks in the world, India Post plays a critical role in strengthening last-mile connectivity and inclusive digital commerce across the country.

A Decade of Startup India Movement Completed on National Startup Day

• Prime Minister Narendra Modi marked the completion of 10 years of the Startup India Movement on National Startup Day (16 January).
• Startup India Movement was launched on 16 January 2016 with the objective of promoting innovation, nurturing entrepreneurs and building a strong startup ecosystem in India.
• The initiative focuses on ease of doing business, regulatory simplification, funding support, mentorship and innovation-driven growth.
• Over the past decade, Startup India has evolved into a nationwide ecosystem connecting government, investors, incubators, academic institutions, mentors and young innovators.
• Since its launch, over 2 lakh startups have been officially recognised under the Startup India initiative.
• Recognised startups operate across sectors such as fintech, health-tech, ed-tech, agritech, clean energy, space and defence.

Bharat Electricity Summit 2026 to Be Held in New Delhi from March 19–22

• Bharat Electricity Summit 2026 will be held from 19–22 March 2026 at Yashobhoomi, New Delhi.
• The summit was announced by Union Power Minister Manohar Lal.
• It is a global conference-cum-exhibition focused on the power and electricity sector.
• The event aims to showcase India’s leadership in the global clean energy transition and its journey from energy scarcity to energy abundance.
• The summit will address challenges across power generation, transmission, distribution, storage and smart consumption.
• It will bring together stakeholders from government, industry, academia and civil society on a common platform.
• The theme of the summit is “Electrifying Growth. Empowering Sustainability. Connecting Globally.”
• Key focus areas include clean energy deployment, energy efficiency, grid resilience, battery storage, energy transition technologies and global partnerships.
• A Buyer–Seller Meet will be organised to promote investment, partnerships and cross-border collaboration.
• The summit aims to mobilise investments, foster global cooperation, and accelerate the deployment of clean and sustainable electricity solutions worldwide.

Female Labour Force and Workforce Participation Reach Yearly Highs in December 2025: PLFS

• As per the Periodic Labour Force Survey (PLFS) Monthly Bulletin for December 2025, female Labour Force Participation Rate (LFPR) and Worker Population Ratio (WPR) reached their highest levels of the year, while the overall unemployment rate (UR) remained broadly stable at 4.8%, indicating resilience in India’s labour market.
• The PLFS is conducted by the National Statistical Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI).
• From January 2025, the PLFS methodology was modified to provide monthly and quarterly labour market estimates using the Current Weekly Status (CWS) approach.
• The December 2025 bulletin is the ninth release in the monthly PLFS series.
• The overall LFPR (15 years and above) increased to 56.1% in December 2025, up from 55.8% in November 2025, marking a yearly peak.
• Rural LFPR rose to 59.0%, while urban LFPR recorded a marginal decline to 50.2%, indicating stronger participation momentum in rural areas.
• Female LFPR (15 years and above) rose to 35.3%, the highest level recorded in 2025.
• Rural female LFPR increased to 40.1%, while urban female LFPR declined slightly to 25.3%.
• The data highlights gradual but consistent improvement in women’s labour force participation, particularly in rural India.
• The overall Worker Population Ratio (WPR) increased to 53.4% in December 2025, compared to 53.2% in November.
• Rural male WPR rose to 76.0%, and rural female WPR increased to 38.6%.
• Urban male WPR declined marginally to 70.4%, while urban female WPR remained around 23%.
• The overall female WPR improved to 33.6%, indicating better employment absorption among women.
• The overall unemployment rate (UR) remained broadly stable at 4.8%, compared to 4.7% in November 2025.
• Rural UR remained unchanged at 3.9%, while urban UR increased slightly to 6.7%.
• Urban female unemployment rate declined to 9.1%, down from the yearly high of 9.7% in October 2025, indicating easing employment pressure for women in urban areas.
• Rural male unemployment stayed low and stable at 4.1%.
• The trends suggest an uneven but gradually broad-based labour market recovery, with rural regions leading the gains and female participation showing sustained improvement.
• LFPR measures the share of the population that is working or seeking work.
• WPR measures the share of the population that is actually employed.
• Unemployment Rate measures the proportion of the labour force without work but actively seeking employment, together providing a comprehensive picture of labour market health.

The Government e-Marketplace Completes 7 Years of Womaniya Initiative to Promote Women Entrepreneurship

• The Government e-Marketplace (GeM) has completed seven years of the Womaniya Initiative, a flagship programme aimed at enhancing the participation of women-led Micro and Small Enterprises in government public procurement.
• The initiative was launched on 14 January 2019 to address limited access of women entrepreneurs and Self-Help Groups to government markets.
• Womaniya provides a direct, transparent and fully digital interface between sellers and government buyers, eliminating intermediaries and reducing traditional entry barriers.
• Over time, it has evolved into a national-level ecosystem, enabling women-led enterprises to compete, scale and gain credibility in public procurement.
• As of 14 January 2026, more than two lakh women-led Micro and Small Enterprises are registered on the GeM portal.
• These enterprises have collectively secured public procurement orders worth over ₹80,000 crore.
• The orders secured under Womaniya account for 4.7% of GeM’s total order value, significantly exceeding the mandatory 3% procurement target for women-owned and women-led enterprises.
• This achievement highlights the effectiveness of policy-backed digital public infrastructure in promoting gender inclusion and economic participation.
• A commemorative event held in New Delhi brought together representatives from the Ministry of Micro, Small and Medium Enterprises, the United Nations Resident Coordinator’s Office, and UN Women India.
• According to GeM leadership, Womaniya has emerged as a structured and scalable ecosystem for women entrepreneurship.
• Digital procurement through GeM enables transparent price discovery, product comparison, and nationwide market access.
• The initiative aligns technology with policy intent, contributing to long-term entrepreneurial resilience.
• The Government e-Marketplace is India’s national public procurement portal designed to enhance efficiency, transparency, and inclusivity.
• Initiatives like Womaniya demonstrate how targeted interventions within digital public infrastructure can address structural inequalities and promote equitable growth.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Madhya Pradesh Signs MoU with Digital India BHASHINI to Strengthen Multilingual AI Governance

• The Government of Madhya Pradesh has signed a Memorandum of Understanding (MoU) with the Digital India BHASHINI Division to integrate multilingual and AI-powered language technologies across state government digital platforms.
• The objective is to promote inclusive, citizen-centric and voice-first digital governance, ensuring improved last-mile delivery of public services in Indian languages.
• The MoU was signed at the Madhya Pradesh Regional AI Impact Conference 2026, held in Bhopal.
• The conference was organised by the Department of Science and Technology, Government of Madhya Pradesh, in collaboration with the IndiaAI Mission.
• It brought together policymakers, startups, industry leaders, academia and central agencies to deliberate on responsible and inclusive adoption of artificial intelligence in governance.
• Chief Minister Mohan Yadav, while inaugurating the conference, outlined the state’s vision of citizen-centric AI governance.
• He announced that Madhya Pradesh will soon introduce a State Artificial Intelligence Policy in mission mode, indicating a structured and long-term roadmap for AI adoption.
• Under the MoU, BHASHINI’s language technologies and translation APIs will be integrated into state digital platforms.
• The partnership also promotes voice-first AI solutions, which are particularly beneficial for rural populations, elderly citizens and people with limited digital literacy.
• The collaboration aims to strengthen accessibility, inclusivity and last-mile service delivery by embedding Indian languages into Digital Public Infrastructure (DPI).
• It aligns with BHASHINI’s national mandate of making India’s linguistic diversity a core strength of Digital India and ensuring that language does not hinder access to government schemes and information.
• BHASHINI is a national AI-based language platform under the Digital India programme.

CURRENT AFFAIRS : DEFENCE NEWS

INSV Kaundinya Arrives in Muscat, Strengthening 5,000-Year-Old India–Oman Maritime Ties

• INSV Kaundinya, a traditionally built stitched-plank Indian sailing vessel, completed a maiden overseas voyage of about 1,400 km from Porbandar, Gujarat to Muscat, Oman in 17 days.
• The vessel was received at Port Sultan Qaboos by Union Minister Sarbananda Sonowal and Omani officials, highlighting 5,000-year-old maritime and civilisational ties between India and Oman.
• The ship is skippered by Commander Vikas Sheoran and sailed by a 16-member crew, which includes economist Sanjeev Sanyal.
• INSV Kaundinya is named after the legendary Indian mariner Kaundinya and is based on a 5th-century CE Ajanta Cave ship, constructed using stitched-plank techniques without nails or metal.
• The voyage underscores India’s indigenous maritime knowledge, craftsmanship, and sustainable shipbuilding practices, executed by the Indian Navy with support from naval architects, archaeologists, and master shipwrights.
• The expedition highlights the role of oceans as connective corridors, enabling sustained interaction between India and Oman over centuries and commemorates 70 years of diplomatic relations.
• During the visit, Union Minister Sarbananda Sonowal held a bilateral meeting with H.E. Eng. Said bin Hamood bin Said Al Mawali, Oman’s Minister of Transport, Communications and IT, to discuss expanding maritime cooperation.
• India invited Omani companies to invest in major port projects under Public-Private Partnership (PPP) mode, including:
• Vadhavan Port, Maharashtra – Investment: $9 billion, Capacity: 23 million TEUs
• Tuticorin Outer Harbour, Tamil Nadu – Investment: $1.3 billion, Capacity: 4 million TEUs
• India announced an $8.4 billion maritime development package to strengthen the shipbuilding ecosystem, focusing on shipbuilding clusters, industrialisation, R&D support, and a Maritime Development Fund.
• A Green Shipping Corridor between India and Oman was proposed as a key area of future collaboration.
• A Memorandum of Understanding (MoU) on maritime heritage and museums was signed to deepen cooperation and enrich the shared maritime history of both countries.
• India–Oman maritime ties continue to grow through enhanced connectivity, sustainable shipping initiatives, and collaboration across ports, shipbuilding, and seafaring

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

World’s First Global Ice Vault Launched in Antarctica to Preserve Melting Glacier Ice Cores

• Scientists have inaugurated the world’s first global ice vault in Antarctica to preserve mountain ice core samples threatened by rapid glacier melting due to global warming.
• The initiative is led by the Ice Memory Foundation, a consortium of European research institutions, aimed at safeguarding ice cores as long-term climate archives for future generations.
• The first ice core samples were extracted from Mont Blanc (France) and Grand Combin (Switzerland).
• These ice cores are being stored at Concordia Station, Antarctica, maintained at a constant temperature of around –52°C, ensuring long-term preservation.
• The Ice Memory Project was launched in 2015 and plans to collect and store ice cores from around 10 glaciers worldwide, with more glaciers to be added in the coming years.
• The global ice vault is inspired by the Svalbard Global Seed Vault, serving as a global scientific resource amid accelerating glacier disappearance.
• Since 2000, glaciers have witnessed an estimated 39% regional loss and 5% global loss, highlighting the urgency of climate preservation

Adani Group, Embraer to Establish India’s First Commercial Aircraft Final Assembly Line

• The Adani Group has partnered with Brazil’s Embraer to set up India’s first Final Assembly Line (FAL) for commercial fixed-wing aircraft.
• Under the partnership, Embraer regional jets designed for short- to medium-haul routes with a seating capacity of 70 to 146 passengers will be manufactured in India.
• Adani Aerospace signed a Memorandum of Understanding (MoU) with Embraer in Brazil for the proposed Final Assembly Line (FAL).
• Details regarding the project location and investment size have not yet been disclosed.
• The agreement is expected to significantly boost the Government of India’s Make in India initiative, particularly in the aviation and defence manufacturing
• With this development, India will join a select group of countries that have a Final Assembly Line (FAL) for commercial fixed-wing aircraft.

Galgotias University Inaugurates IIT Mandi Catalyst Satellite Centre in Greater Noida, Uttar Pradesh

• Galgotias University, ranked among the world’s leading universities by QS (Quacquarelli Symonds) and Times Higher Education (THE), inaugurated the IIT Mandi Catalyst Satellite Centre at its campus in Greater Noida, Uttar Pradesh (UP).
• The inauguration marks a major milestone in strengthening innovation-driven learning, entrepreneurship, and India’s startup ecosystem.
• The centre has been established in collaboration with IIT Mandi, Himachal Pradesh (HP).
• The primary aim of the centre is to support early-stage startups, promote deep-tech innovation, and bridge the gap between research and real-world applications.
• The IIT Mandi Catalyst Satellite Centre will function as an innovation and incubation hub, supporting startups, student entrepreneurs, and joint programmes.
• The hub will provide mentorship, investor access, market linkages, and support for technology commercialisation and acceleration.
• During the event, Galgotias University signed two strategic Memorandums of Understanding (MoUs) to strengthen academic and research collaboration.
• The MoUs were signed with National Institute of Technology (NIT), Jamshedpur (Jharkhand) and Jharkhand University of Technology (JUT), Ranchi.
• These partnerships aim to enable joint research initiatives, faculty and student exchange programmes, co-creation of deep-tech startups, access to advanced laboratories, and shared incubation and acceleration programmes.

Dr. Jitendra Singh Inaugurates ₹40 Crore DST-Funded NIDHI Centre of Excellence at IIM Ahmedabad

• The DST–NIDHI Centre of Excellence (CoE) has been launched at IIM Ahmedabad to promote deep-tech entrepreneurship and technology translation.
• The centre is supported by ₹40 crore funding from the Department of Science & Technology (DST).
• The CoE was inaugurated by Jitendra Singh, Minister of State (Independent Charge) for Science & Technology and Earth Sciences on January 12, 2026.
• The initiative aims to bring together technology experts, management professionals, and industry to convert scientific research into market-ready products.
• A new platform titled “Translation Endeavours” was launched to connect academia, industry, government, and investors for improved technology commercialisation.
• The initiative is backed by key government mechanisms such as the Research, Development and Innovation Fund (RDIF) and the Anusandhan National Research Foundation (ANRF).
• These support systems aim to provide long-term funding and ecosystem support to deep-tech startups in India.

CURRENT AFFAIRS : SUMMITS & CONFERENCE

All India Spices Exporters Forum to Host 9th International Spice Conference (ISC 2026) in Kochi from 23–26 February

• The All India Spices Exporters Forum (AISEF) will organise the 9th International Spice Conference (ISC 2026) from February 23–26, 2026 in Kochi, Kerala.
• The theme of ISC 2026 is “Spice 360 – Getting Future Ready”, focusing on the future of the global spice industry.
• The conference will bring together policymakers, industry leaders, researchers, and innovators from across the world.
• Amitabh Kant, former G20 Sherpa and ex-CEO of NITI Aayog, will inaugurate the event and deliver the keynote address.
• Martin Sonntag, CEO of Oterra, will be the Guest of Honour and speak on food and nutrition in the next decade.
• AISEF, established in 1987, works towards protecting the interests of spice exporters in India.

CURRENT AFFAIRS: RANKING AND INDEX

World Economic Forum Global Risks Report 2026 Warns of an ‘Age of Competition’ and Rising Global Instability

• The World Economic Forum Global Risks Report 2026 (21st edition) warns that the world is entering an “Age of Competition”, marked by intensified rivalry among countries.
• Competition is no longer limited to military power but increasingly involves trade restrictions, sanctions, technology controls, supply chain dominance, and information warfare.
• This shift is making the global system more fragmented, unpredictable, and vulnerable to cascading shocks, while weakening international cooperation.
• The report assesses risks over two time horizons: the near term (2 years) and the long term (10 years), highlighting that multiple risks are overlapping and reinforcing each other.
• The WEF defines a global risk as a threat or event that can cause large-scale negative impacts on the global population, economy, or natural and ecological systems, especially those that cross borders and spread rapidly.
• The report is based on expert surveys of global leaders and specialists and categorizes risks into geopolitical, economic, societal, technological, and environmental domains.
• A key analytical focus is on risk interconnections, emphasizing that crises rarely occur in isolation and often trigger secondary and tertiary impacts.
• Key drivers of rising instability include major power rivalry, declining multilateral cooperation, high debt levels, uneven economic growth, rapid technological change, and intensifying climate impacts.
• The most likely global crisis trigger in 2026 is identified as geoeconomic confrontation.
• Geoeconomic confrontation refers to the use of economic tools as strategic weapons, including sanctions, tariffs, technology export controls, supply chain restrictions, and control over critical resources such as energy, rare earths, and semiconductors.

CURRENT AFFAIRS: SPORTS NEWS

Mitchell Starc Named ICC Men’s Player of the Month for December 2025

• Australian fast bowler Mitchell Starc has been awarded the ICC Men’s Player of the Month for December 2025 for his outstanding performances in the Ashes series.
• The award recognises Starc’s decisive role in Australia’s 4–1 Ashes series victory during the home season.
• Starc emerged as a dominant force throughout the Ashes, producing multiple match-winning spells with the ball.
• He started the series strongly with a 10-wicket haul in the opening Test at Perth, putting England under immediate pressure.
• In the second Test at Brisbane, he followed up with eight wickets, underlining his consistency and effectiveness in home conditions.
• During December 2025 alone, Starc claimed 16 wickets, showcasing sustained excellence at the highest level of Test cricket.
• His contributions with both bat and ball highlighted his stature as one of the finest fast bowlers of his generation.
• The ICC Player of the Month award, instituted by the International Cricket Council, recognises exceptional individual performances in international cricket every month.
• The award is decided based on on-field performances, along with votes from fans and an expert panel.

Laura Wolvaardt Named ICC Women’s Player of the Month for December 2025

• South Africa captain Laura Wolvaardt won the ICC Women’s Player of the Month for December 2025 for her record-breaking performances against Ireland across T20I and ODI formats.
• She edged out India’s Shafali Verma and South Africa teammate Sune Luus to secure the award.
• This was Wolvaardt’s second ICC Player of the Month award in three months, having earlier won the honour in October 2025, highlighting her exceptional consistency and form.
• The award reflects her impact both as a top-order batter and captain, leading South Africa to series victories.
• In the T20I series, Wolvaardt produced a stunning unbeaten 115*, scoring at a strike rate of 205.35, including 15 boundaries and four sixes.
• Across the T20I series, she scored 137 runs, was dismissed only once, and maintained an impressive strike rate of 190.27.
• In the ODI series, Wolvaardt continued her dominance with back-to-back centuries.
• The ICC Player of the Month Award recognises outstanding individual performances in international cricket each month, selected through a combination of fan voting and expert panel evaluation.

Daily CA One- Liner: January 18 & 19

• Andhra Pradesh will host the world’s largest green ammonia project at Kakinada, being developed by AM Green, with a total investment of USD 10 billion
• The Department of Posts successfully delivered its first-ever online order through the Open Network for Digital Commerce (ONDC), marking its entry as a Logistics Service Provider (LSP) on the platform
• Bharat Electricity Summit 2026 will be held from 19–22 March 2026 at Yashobhoomi, New Delhi.
• As per the Periodic Labour Force Survey (PLFS) Monthly Bulletin for December 2025, female Labour Force Participation Rate (LFPR) and Worker Population Ratio (WPR) reached their highest levels of the year, while the overall unemployment rate (UR) remained broadly stable at 4.8%, indicating resilience in India’s labour market
• The Government e-Marketplace (GeM) has completed seven years of the Womaniya Initiative, a flagship programme aimed at enhancing the participation of women-led Micro and Small Enterprises in government public procurement.
• National Startup Day is celebrated on 16 January 2026, marking 10 years of the Startup India Initiative, launched in 2016.
• The Government of Madhya Pradesh has signed a Memorandum of Understanding (MoU) with the Digital India BHASHINI Division to integrate multilingual and AI-powered language technologies across state government digital platforms.
• The World Economic Forum Global Risks Report 2026 (21st edition) warns that the world is entering an “Age of Competition”, marked by intensified rivalry among countries
• Australian fast bowler Mitchell Starc has been awarded the ICC Men’s Player of the Month for December 2025 for his outstanding performances in the Ashes series.
• South Africa captain Laura Wolvaardt won the ICC Women’s Player of the Month for December 2025 for her record-breaking performances against Ireland across T20I and ODI formats.
• The Reserve Bank of India (RBI) has recognised the Foreign Exchange Dealers’ Association of India (FEDAI) as a Self-Regulatory Organisation (SRO) for all Authorised Dealers (ADs) in the foreign exchange market.
• The Reserve Bank of India (RBI) has granted in-principle approval to Sumitomo Mitsui Banking Corporation (SMBC), Japan, to establish a Wholly-Owned Subsidiary (WOS) in India.
• The Reserve Bank of India (RBI) has mandated banks and eligible non-banking financial companies (NBFCs) to implement a fully automated Complaint Management System (CMS) with direct access for the Internal Ombudsman (IO) and Deputy IO (DIO).
• Wholesale inflation (WPI) rose to 0.83% in December 2025, marking the first positive year-on-year print after two months of deflation and the highest in eight months.
• Canara Bank has partnered with NPCI BHIM Services Limited (NBSL) to integrate bank plug-ins for providing UPI services on its Canara ai1Pe banking app.
• State Bank of India (SBI) has increased ATM charges effective from December 1, 2025, due to higher interchange fees paid when customers use other banks’ ATMs.
• The Organisation for Economic Co-operation and Development (OECD) has finalised an agreement on the global minimum corporate tax, with participation from the United States and over 100 countries.
• INSV Kaundinya, a traditionally built stitched-plank Indian sailing vessel, completed a maiden overseas voyage of about 1,400 km from Porbandar, Gujarat to Muscat, Oman in 17 days.
• Scientists have inaugurated the world’s first global ice vault in Antarctica to preserve mountain ice core samples threatened by rapid glacier melting due to global warming.
• The Adani Group has partnered with Brazil’s Embraer to set up India’s first Final Assembly Line (FAL) for commercial fixed-wing aircraft.
• Galgotias University, ranked among the world’s leading universities by QS (Quacquarelli Symonds) and Times Higher Education (THE), inaugurated the IIT Mandi Catalyst Satellite Centre at its campus in Greater Noida, Uttar Pradesh (UP).
• The DST–NIDHI Centre of Excellence (CoE) has been launched at IIM Ahmedabad to promote deep-tech entrepreneurship and technology translation.
• The All India Spices Exporters Forum (AISEF) will organise the 9th International Spice Conference (ISC 2026) from February 23–26, 2026 in Kochi, Kerala.