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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India and European Securities and Markets Authority Sign Memorandum of Understanding to Cooperate on Central Counterparties Regulation

• The Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding (MoU) on January 27, 2026, for cooperation and information exchange related to Central Counterparties (CCPs) regulated by RBI.
• This MoU replaces the earlier agreement signed on 28 February 2017, which had lapsed, updating the framework for supervisory cooperation between the two authorities.
• The agreement enables RBI and ESMA to cooperate on oversight of CCPs in accordance with their respective legal and regulatory frameworks, resolving a long-standing impasse.
• The MoU establishes a framework for ESMA to rely on RBI’s regulatory and supervisory activities for Indian clearing houses (like CCIL), while safeguarding EU financial stability.
• The agreement strengthens India–EU financial market linkages and reinforces global coordination in the regulation of critical financial market infrastructures.
• The MoU was signed by Vivek Deep, Executive Director of RBI, and Verena Ross, Chair of ESMA.
• The agreement demonstrates the importance of cross-border cooperation to facilitate international clearing activities, potentially reducing capital charges for European banks operating in India.

Securities and Exchange Board of India Survey Shows Only 9.5% of Indian Households Invest in Securities Markets

• A survey by the Securities and Exchange Board of India (SEBI) revealed that out of 33.72 crore Indian households, only 3.21 crore households (9.5%) invested in securities markets such as equities, mutual funds, and corporate bonds.
• Nearly 30.51 crore households remained outside the securities market, indicating significant under-penetration despite strong market growth over the past decade.
• Household awareness was highest for mutual funds (53%) and ETFs (49%), while participation in complex instruments like corporate bonds, derivatives, REITs, InvITs, and AIFs remained extremely limited.
• About 6.7% of households reported holding mutual funds or ETFs, while only 5.3% held direct equities, showing restricted participation even in market-linked products.
• Geographic disparities were evident, with urban households reporting 74% awareness of at least one securities product, compared to 56% in rural areas.
• Among states and regions, Delhi led with 21% participation, followed by Maharashtra (17%), Goa (16%), and Gujarat (15%), while Nagaland (3%), Uttarakhand, and Meghalaya (4.5%) recorded the lowest participation.

Recent News :

• In Dec 2025, The SEBI has decided to exclude Zero Coupon Zero Principal (ZCZP) bonds and delisted securities from the valuation threshold used to determine Basic Services Demat Account (BSDA) eligibility.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Bharti AXA Life Launches “Swabhimaan Retirement” Deferred Annuity Plan to Ensure Lifelong Guaranteed Income

• Bharti AXA Life Insurance has launched a non-linked, non-participating individual deferred annuity plan named “Swabhimaan Retirement” to help customers lock in current annuity rates and secure guaranteed lifelong income.
• The plan offers lifetime annuity payouts on a monthly, quarterly, half-yearly, or annual basis, with a joint-life option to ensure continued income for the surviving spouse.
• The plan provides Premium Payment Term (PPT) options of 2, 3, and 5 years, with deferment periods of up to 7 years under select annuity options.
• The plan allows partial withdrawal of surrender value after completion of premium payments, subject to policy terms and conditions.
• The plan includes an Atmanirbhar option, allowing customers to withdraw funds in case of emergency.
• Bharti AXA Life Insurance is a prominent Indian private life insurer, established in 2006, functioning as a joint venture between Bharti Enterprises (74% stake) and France-based AXA Group (26% stake).
• The plan enables customers to plan early, lock in annuity rates at current levels, and ensure guaranteed income security for life for the policyholder or spouse.

Reserve Bank of India Issues Priority Sector Lending Amendment Directions 2026 to Align Framework with Updated 2025 Norms

• The Reserve Bank of India (RBI) issued the Priority Sector Lending (PSL) (Targets and Classification) Amendment Directions, 2026, to align the Priority Sector Lending (PSL) framework with updated capital adequacy, credit risk transfer, securitisation, and regulatory norms notified in 2025.

Key Highlights :

• PSL targets remain unchanged for most banks, with Domestic Commercial Banks and Foreign Banks (20+ branches) required to lend 40% of ANBC/CEOBSE, Foreign Banks with fewer than 20 branches also at 40% (with export credit capped at 32%), and Regional Rural Banks (RRBs) at 75%, subject to a 15% cap for Medium Enterprises, Social Infrastructure, and Renewable Energy.
• Small Finance Banks (SFBs) PSL target has been revised to 60% of ANBC or CEOBSE (whichever is higher), replacing the earlier 75% requirement.
• The National Co-operative Development Corporation (NCDC) has been included as an eligible on-lending entity for PSL, subject to quarterly certification by a CAG-empanelled auditor, applicable to loans sanctioned after 19 January 2026.
• On-lending to NBFCs, MFIs, HFCs, and NCDC is capped at 5% of a bank’s total PSL of the previous financial year, calculated on a four-quarter average, with mandatory auditor certification to prevent double counting.
• Health Infrastructure Loans up to ₹12 crore per borrower for setting up healthcare facilities in Tier II to Tier VI centres are eligible for PSL; for Urban Co-operative Banks (UCBs), this applies to Category ‘D’ centres with population below 1 lakh.
• There are four kinds of Priority Sector Lending Certificates (PSLCs):

1. PSLC Agriculture – counts towards total agriculture lending target.
2. PSLC SF/MF – counts towards sub-target for Small and Marginal Farmers.
3. PSLC Micro Enterprises – counts towards sub-target for Micro Enterprises.
4. PSLC General – counts towards overall priority sector

• Banks may issue PSLCs up to 50% of the previous year’s PSL achievement without underlying assets, provided they meet targets at year-end; all PSLCs expire on 31 March.
• Bank credit to NHB-approved HFCs for refinance, on-lending, slum clearance, or rehabilitation of slum dwellers qualifies as PSL under Housing, subject to an aggregate loan cap of ₹20 lakh per borrower.
• For Self-Help Groups (SHGs) and Joint Liability Groups (JLGs), the ₹50,000 limit applies per individual member, not at the group level.
• Certain districts in Rajasthan have been removed from priority sector annexures, including Neem Ka Thana (Annex IA) and Gangapur City, Jodhpur Rural, and Sanchore (Annex IB).
• The Directions apply to all Commercial Banks [including RRBs, SFBs, Local Area Banks (LABs)] and Primary (Urban) Co-operative Banks (UCBs), except Salary Earners’ Banks.
• The priority sector includes Agriculture, MSMEs, Export Credit, Education, Housing, Social Infrastructure, Renewable Energy, and Others.
• Banks can issue unsecured, rupee-denominated bonds with minimum maturity of 7 years, which are excluded from CRR and SLR requirements.
• Banks (excluding UCBs under all-inclusive directions) that fall short of prescribed PSL targets or sub-targets must contribute specified amounts to RIDF and other funds with NABARD, NHB, SIDBI, or MUDRA Ltd., on terms decided by RBI.
• The interest rate on deposits made by banks into RIDF and other funds depends on the extent of shortfall, ranging from Bank Rate minus 2% to Bank Rate minus 4%.

Reserve Bank of India Notifies Revised Integrated Ombudsman Scheme to Strengthen Complaint Resolution from 1 July 2026

• The Reserve Bank of India (RBI) issued the revised Integrated Ombudsman Scheme, which will come into effect from 1 July 2026, to strengthen the RBI Ombudsman framework and improve efficiency in complaint resolution.
• The Scheme is issued under Section 35A of the Banking Regulation Act, 1949, Section 45L of the RBI Act, 1934, Section 18 of the Payment and Settlement Systems Act, 2007, and Section 11 of the Credit Information Companies (Regulation) Act, 2005.

Key Highlights :

• The Scheme applies to all Commercial Banks, Regional Rural Banks (RRBs), State Co-operative Banks, Central Co-operative Banks, and Scheduled/Non-Scheduled Primary (Urban) Co-operative Banks with a deposit size of ₹50 crore or more, as per the last audited balance sheet.
• It covers Non-Banking Financial Companies (NBFCs) authorised to accept deposits, excluding HFCs, CICs, IDF-NBFCs, NBFC-IFCs, NOFHCs, Primary Dealers, and Mortgage Guarantee Companies.
• The Scheme also applies to NBFCs with a customer interface and an asset size of ₹100 crore or above, as per the previous year’s audited balance sheet.
• All non-bank Prepaid Payment Instrument (PPI) issuers and Credit Information Companies (CICs) fall under the scope of the Scheme.
• The RBI may appoint one or more officers as RBI Ombudsman and RBI Deputy Ombudsman for a tenure of generally three years to perform functions under the Scheme.
• The RBI shall establish Centralised Receipt and Processing Centres at one or more locations to receive and process complaints filed under the Scheme.
• There is no monetary limit on the value of disputes that can be taken up under the Scheme.
• The RBI Ombudsman can award compensation up to ₹30 lakh for consequential losses suffered by the complainant.
• Additionally, compensation up to ₹3 lakh may be granted for loss of time, expenses, harassment, or mental anguish.
• The RBI will publish an annual report on the functioning and performance of the Ombudsman Scheme in the public interest.
• Any customer aggrieved by deficiency in service due to an act or omission of a Regulated Entity may file a complaint directly with the RBI Ombudsman, either personally or through an authorised representative (except an advocate, unless the advocate is the aggrieved person).
• The complaint must first be lodged with the concerned Regulated Entity and can be taken to the RBI Ombudsman only if no reply is received within 30 days or if the reply is unsatisfactory.
• Complaints must be filed with the RBI Ombudsman within 90 days from the expiry of the response timeline or from the last communication received from the Regulated Entity, whichever is later.
• Upon receipt of acceptance, the Regulated Entity must comply with the Award or file an appeal with the Appellate Authority within 30 days.
• Each Regulated Entity is required to appoint a Principal Nodal Officer (PNO) at its Head Office, not below the rank of General Manager or equivalent, to represent the entity and furnish information on complaints.

SMFG India Credit Partners with Google Pay to Provide Collateral-Free Personal Loans Nationwide

• SMFG India Credit (SMICC) has partnered with Google Pay to offer collateral-free personal loans to users across India.
• Eligible Google Pay users can now apply for personal loans directly within the app, enabling quick and seamless digital loan disbursement (often within minutes).
• The collaboration aims to expand access to formal credit, especially for underserved and emerging customer segments, supporting the vision of a digitally inclusive economy.
• The digital lending process is designed to be fast, safe, and flexible, catering to India’s increasingly digital-savvy population.
• The initiative promotes financial inclusion by providing formal credit facilities to individuals who may have previously lacked access to traditional banking.
• The partnership strengthens SMICC’s position in the digital ecosystem, leveraging innovative technology to increase social impact.
• Google Pay is a mobile payment service developed by Google that supports in-app, online, and in-person contactless transactions on mobile devices.

Reserve Bank of India Notifies Foreign Exchange Management Regulations 2026, Replacing 2015 Rules Effective 1 October, 2026

• The Reserve Bank of India (RBI) has notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, replacing the 2015 regulations, effective from 1 October 2026.
• Exporters of goods must submit an Export Declaration Form (EDF) at the time of export, while exporters of services must submit the EDF within 30 days from the end of the month of invoicing, with flexibility for consolidated or delayed submissions subject to Authorised Dealer
• Export proceeds must generally be realised and repatriated within 15 months, extended to 18 months for INR-invoiced exports, with Authorised Dealer banks empowered to grant extensions on valid grounds.
• Authorised Dealers are required to formulate comprehensive internal policies and SOPs, ensure transparent charges, proper delegation of powers, grievance redressal mechanisms, and public disclosure of procedures on their websites.
• Simplified closure of EDPMS (Export Data Processing and Monitoring System) and IDPMS (Import Data Processing and Monitoring System) entries is allowed for transactions up to ₹10 lakh based on exporter/importer self-declarations.
• RBI stated that the directions have been issued under the provisions of the Foreign Exchange Management Act (FEMA), 1999.

Reserve Bank of India Proposes Changes to Banks’ FX Exposure Framework and Capital Requirements for FX Risk

• The Reserve Bank of India (RBI) has proposed changes to the framework for calculating banks’ net foreign exchange (FX) exposure and the capital requirements for FX risk.
• The objective of the proposals is to align India’s FX risk norms with global standards (Basel Committee) and ensure uniform implementation across all regulated entities.
• Under the proposed framework, banks must maintain a minimum capital charge of 9% on their net open foreign exchange positions.
• The revised rules mandate that FX risk capital be maintained at the close of each business day, thereby strengthening daily risk management.
• The RBI has invited public feedback on the proposals, which are proposed to come into effect from 1 April 2027.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Indian Institute of Technology Guwahati Develops Technique to Predict Glacial Hazards in Eastern Himalayas

• Researchers from Indian Institute of Technology Guwahati have developed a new scientific framework to predict glacial hazards in the Eastern Himalayan region.
• The study has identified 492 potential future glacial lake formation sites, which may pose risks of Glacial Lake Outburst Floods.
• The findings were published in the international journal Scientific Reports, highlighting emerging climate-related risks in fragile mountain ecosystems.
• Glacial hazards mainly arise due to the formation and sudden bursting of glacial lakes, known as Glacial Lake Outburst Floods.
• Glacial Lake Outburst Floods release massive volumes of water, ice, and debris in a short time, causing destruction to villages, roads, hydropower projects, and agricultural land.
• Rapid glacier retreat due to climate change is accelerating the formation of new glacial lakes, especially across the Himalayan region.
• Predicting the locations of future glacial lakes is critical for early warning systems, disaster preparedness, long-term water management, and climate-resilient planning.
• The research used high-resolution Google Earth satellite imagery combined with Digital Elevation Models to analyse terrain characteristics in detail.
• Unlike earlier studies that focused mainly on glacier size or temperature trends, the new framework emphasised landscape structure and terrain features.
• Key terrain parameters analysed included slope, surface shape, cirques, and proximity to existing lakes.
• The framework also incorporated uncertainty estimation, improving the realism and reliability of predictions in complex high-altitude terrains.
• Three predictive techniques were tested: Logistic Regression, Artificial Neural Networks, and Bayesian Neural Networks.
• Bayesian Neural Networks emerged as the most accurate model due to their ability to handle uncertainty in terrain and climate data.
• The model identified retreating glaciers, gentle slopes, cirques, and nearby lakes as the most significant predictors of future glacial lake formation.
• The identification of 492 high-risk locations provides actionable inputs for disaster management authorities, infrastructure planners, and policy makers in Himalayan states.
• According to Professor Ajay Dashora, Assistant Professor at Indian Institute of Technology Guwahati, the framework can guide early warning systems, hydropower project planning, road alignment, and safe settlement planning.

RECENT NEWS

• The India International Science Festival (IISF) 2024, India’s largest science celebration, will take place at IIT Guwahati, Assam, from November 30 to December 3, 2024. Organized under the aegis of the Council of Scientific and Industrial Research (CSIR).

Uttarakhand Implements Uniform Civil Code (Amendment) Ordinance, 2026

• The Government of Uttarakhand has implemented the Uniform Civil Code  (Amendment) Ordinance, 2026 after receiving approval from the Governor of Uttarakhand, giving the ordinance immediate legal effect.
• The ordinance has been promulgated under Article 213 of the Constitution of India, which empowers the Governor to issue ordinances when the State Legislature is not in session.
• The Uniform Civil Code (UCC) was originally implemented in Uttarakhand on 27 January 2025, making it the first state in India to enforce a comprehensive Uniform Civil Code.
• The amendment ordinance introduces procedural, administrative and penal reforms to strengthen the implementation of the existing Uniform Civil Code Act, 2024.
• The key objective of the amendments is to remove ambiguities, improve clarity of provisions, and ensure effective enforcement of the Uniform Civil Code across the state.
• The ordinance aligns penal provisions of the UCC with the new Indian criminal laws, ensuring legal consistency and updated punishment mechanisms.
• A major focus of the amendment is on women’s empowerment, protection of children’s rights, and equality in civil laws applicable to all communities.
• The amendments strengthen registration-related powers, improve the appellate mechanism, and enhance administrative authority for better implementation.
• The Uniform Civil Code has significantly advanced digital governance, especially in marriage registration, by shifting processes from physical offices to online platforms.
• Under the UCC framework, nearly 100 percent marriage registrations are now conducted online through document uploads and video-based verification of couples and witnesses.
• Within one year of UCC implementation, more than five lakh marriages have been registered digitally, with marriage certificates issued within an average of five days.
• Prior to UCC implementation, marriage registration in the state was governed by the Uttarakhand Compulsory Registration of Marriages Act, 2010, which required physical presence at sub-registrar offices.
• The state is observing “Uniform Civil Code Day” on completion of one year of UCC implementation to highlight its social, legal and administrative impact.

RECENT NEWS

• The Uttarakhand government has taken an important step to strengthen healthcare facilities in border areas. On Thursday, the state government signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP) under a new initiative called ‘Swasth Seema Abhiyan’. 

About Uttarakhand:

• Chief Minister: Pushkar Singh Dhami
• Governor: Gurmit Singh
• Capital: Dehradun
• National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park, Gangotri National Park, Valley of Flowers National Park
• Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

Gujarat Government Announces Financial Assistance under Namo Laxmi Scheme

• The Government of Gujarat has announced Indian Rupees 1,250 crore financial assistance under the Namo Laxmi Scheme for the 2025–26 academic year.
• The initiative will benefit more than 12 lakh girl students studying in Classes 9 to 12.
• The scheme aims to prevent school dropouts, improve nutrition and health, and promote secondary and higher secondary education among girls.
• The Namo Laxmi Scheme is a state-sponsored initiative to support the education of girls at the secondary and higher secondary levels.
• Launched under the guidance of Chief Minister Bhupendra Patel, the scheme ensures that financial constraints do not interrupt education after primary schooling.
• It links education support with health, nutrition, and long-term empowerment of girl students.
• Under the scheme, each eligible girl receives Indian Rupees 50,000 over four years from Class 9 to Class 12.
• For Classes 9 and 10, students receive Indian Rupees 20,000, including monthly assistance and a lump sum after clearing the Class 10 board examination.
• For Classes 11 and 12, the assistance amounts to Indian Rupees 30,000, provided through monthly instalments and a completion-based payout after Class 12.
• This structure encourages continuity and successful completion of schooling.
• The scheme applies to girls enrolled in schools recognised by the Gujarat Secondary and Higher Secondary Education Board or the Central Board of Secondary Education.
• Students must have completed Classes 1 to 8 in government or aided schools, under the Right to Education Act, or Class 8 in a private school.
• The annual family income should not exceed Indian Rupees 6 lakh.
• Girls already receiving other scholarships are also eligible, as this scheme provides additional financial support.
• The Namo Laxmi Scheme also focuses on improving nutrition and health of adolescent girls.
• Regular financial assistance helps families ensure better food intake and healthcare, leading to improved attendance, learning outcomes, and overall well-being.
• The initiative builds on Gujarat’s earlier education programmes such as Shala Praveshotsav, which strengthened school enrolment and retention.
• Many such initiatives, launched during Narendra Modi’s tenure as Chief Minister of Gujarat, later inspired national-level programmes.
• The Namo Laxmi Scheme continues this legacy by targeting adolescent girls, a group particularly vulnerable to school dropouts.

About Gujarat:

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

Kerala Declares Bacillus subtilis as State Microbe

• Kerala has officially declared Bacillus subtilis as its State Microbe, becoming the first Indian state to accord formal recognition to a microorganism.
• The move highlights the importance of microorganisms in human health, agriculture, and environmental sustainability, marking a science-driven initiative in governance.
• Bacillus subtilis is a beneficial probiotic bacterium commonly found in soil, fermented foods, and the human gut.
• It is widely studied for its role in improving gut health, boosting immunity, enhancing soil fertility, and controlling plant diseases.
• Due to its spore-forming ability and resilience, it is extensively used in pharmaceuticals, food processing, and sustainable agriculture.
• Its recognition reflects Kerala’s intent to highlight microbes as silent contributors to human well-being and ecological balance.
• The official declaration was made by Chief Minister Pinarayi Vijayan at a public function in Thiruvananthapuram.
• With this decision, Kerala has set a national precedent by formally acknowledging the role of microorganisms in development and governance.
• The move represents a shift from conventional state symbols to scientific and knowledge-based identifiers, aligning with Kerala’s emphasis on education and research.
• The announcement coincided with the launch of the Centre of Excellence in Microbiome, a dedicated institution to advance microbiome research.

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

CURRENT AFFAIRS : INTERNATIONAL NEWS

UNEP Report 2026 Highlights 30:1 Imbalance Between Nature-Negative Investments and Conservation Spending

• The United Nations Environment Programme (UNEP) released the 4th edition of the report titled “State of Finances for Nature: Nature in the Red – Powering the Trillion Dollar Nature Transition Economy”, based on global financial data of 2023.
• The report highlights that for every USD 1 invested in protecting nature, nearly USD 30 is spent on nature-negative activities, indicating a 30:1 imbalance.
• The report focuses on fast-tracking the transition away from nature-negative finance while scaling up investment in Nature-based Solutions (NbS).
• In 2023, global spending on activities harmful to nature amounted to around USD 7.3 trillion.
• Out of this amount, the private sector contributed USD 4.9 trillion, mainly from energy, utilities, industrial manufacturing, and basic materials
• In 2024, private sector nature-negative spending increased to USD 5.5 trillion, registering a 12% rise.
• The more than 30:1 ratio in favour of nature-negative activities is fuelling the triple planetary crisis of climate change, biodiversity loss, and pollution.
• Public and private finance for Nature-based Solutions (NbS) reached USD 220 billion in 2023, marking a 5% increase over 2022.
• Public finance of USD 197 billion remained the largest source of NbS investment, while private finance of USD 23.4 billion remained comparatively limited.
• Asia led government spending on NbS in 2023 with investments of USD 93 billion.
• North America recorded the highest Year-on-Year (YoY) growth in NbS spending, at more than 19%.
• The report introduced the Nature Transition X-Curve, a new framework aimed at reforming capital flows, sequencing policy actions, and scaling up high-integrity Nature-based Solutions (NbS) across all sectors of the economy.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Veteran Indian sports administrator Randhir Singh Resigns Early as Olympic Council of Asia President

• Veteran Indian sports administrator and 5-time Olympic shooter Randhir Singh announced his premature resignation as President of the Olympic Council of Asia (OCA) due to health reasons.
• After his resignation, Sheikh Joaan bin Hamad Al Thani, President of the Qatar Olympic Committee (QOC), was elected as the new OCA President during the OCA General Assembly held in Tashkent, Uzbekistan.
• In September 2024, Randhir Singh became the first Indian to be elected President of OCA, securing a 4-year term (till 2028) at the 44th OCA General Assembly in New Delhi, India.
• Before becoming OCA President, Randhir Singh served as Acting President of OCA since 2021, replacing Sheikh Ahmad Al-Fahad Al-Sabah of Kuwait, who was banned for 15 years due to ethics violations.
• In Indian sports administration, Randhir Singh served as Secretary General of the Indian Olympic Association (IOA) from 1987 to 2012, making him one of the longest-serving officials.
• At the global level, Randhir Singh was a member of the International Olympic Committee (IOC) from 2001 to 2014 and later continued as an Honorary Member of the IOC.

All India Football Federation Appoints Amelia Valverde as Head Coach of India Women’s Senior Football Team

• The All India Football Federation (AIFF) has officially appointed Amelia Valverde as the Head Coach of the Indian Senior Women’s National Football Team.
• Amelia Valverde, aged 39 years, joined the Indian training camp in Antalya, Turkey, where the Blue Tigresses are preparing for the AFC Women’s Asian Cup Australia 2026, scheduled in March 2026.
• She is the longest-serving head coach in the history of the Costa Rican Women’s National Team, leading Las Ticas from 2015 to 2023.
• Under her guidance, Costa Rica qualified for the FIFA Women’s World Cup in 2015 and 2023, which are the only two World Cup appearances by the nation.
• Amelia Valverde secured several international podium finishes, including Gold at the 2017 Central American Games, Silver at the 2018 Central American and Caribbean (CAC) Games, and Bronze at the 2019 Pan American Games.
• She was honoured as the CONCACAF Female Coach of the Year 2016 for her outstanding coaching achievements.

About AIFF :

• The All India Football Federation (AIFF) is the governing body of football, futsal, and beach soccer in India.
• AIFF is affiliated with the Ministry of Youth Affairs and Sports, Government of India, and was founded on 23 June 1937.
• President : Kalyan Chaubey.

CURRENT AFFAIRS: AWARDS AND HONOURS

Taylor Swift to be Inducted into Songwriters Hall of Fame

• Taylor Swift (aged 36) will become the second-youngest songwriter to be inducted into the Songwriters Hall of Fame.
• She joins Stevie Wonder, who was inducted at the age of 33 in 1983, as the youngest inductees in the Hall of Fame’s history.
• The announcement was made by the Songwriters Hall of Fame and confirmed on CBS Mornings.
• Taylor Swift will be inducted alongside:
• Alanis Morissette
• Kenny Loggins
• Paul Stanley and Gene Simmons (members of the band Kiss)
• The induction ceremony is scheduled to be held on 11 June 2026 at the Marriott Marquis Hotel, New York City.
• Established in 1969, the Songwriters Hall of Fame requires that songwriters become eligible 20 years after the first commercial release of a song, with a significant and influential catalogue.
• Taylor Swift is a 14-time Grammy Award winner.
• She has won the Grammy Award for Album of the Year four times, the most by any artist.
• Her latest album, “The Life of a Showgirl”, recorded the highest first-week sales in the modern era, as reported by Billboard, based on data from Luminate (a music sales tracking firm).
• In May 2025, Taylor Swift reacquired ownership of her music rights, regaining control over all her master recordings, including her first six albums.
• Her Eras Tour became record-breaking and led to:
• A concert film
• A six-part documentary series released on Disney Plus
• Her 2024 album, “The Tortured Poets Department”:
• Debuted at Number One on the Billboard 200 Album Chart
• Sold 8 million album-equivalent units in the United States, according to Luminate

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and European Union Sign First-Ever Comprehensive Defence and Security Partnership

• India and the European Union signed their first comprehensive Defence and Security Partnership, alongside the conclusion of the India–European Union Free Trade Agreement.
• The agreement was si gned during the visit of European Union leaders to India for the 77th Republic Day celebrations, marking a historic expansion of bilateral ties beyond trade.
• This is the first-ever overarching defence and security agreement between India and the European Union, reflecting a major strategic milestone in bilateral relations.
• The partnership establishes a formal and comprehensive framework for cooperation in maritime security, defence industry, defence technology, and space security.
• The agreement signals that India and the European Union now view each other as reliable and long-term security partners in a volatile global security environment.
• Alongside the defence partnership, both sides launched negotiations on a Security of Information Agreement.
• The Security of Information Agreement will enable the exchange of classified information while ensuring legal safeguards for the protection of sensitive data.
• This agreement is a mandatory framework for the European Union to share classified material with third countries and is expected to strengthen defence-industrial and strategic cooperation.
• The partnership reflects shared concerns over rising cross-regional security threats, increasing focus on Indo-Pacific maritime security, and evolving global geopolitical tensions.
• The European Union’s growing defence preparedness, particularly amid concerns related to Russia and Ukraine, aligns with India’s push for defence self-reliance and diversification of strategic partners.
• Both sides acknowledged the need for closer cooperation to counter terrorism, hybrid threats, and cyber insecurity.
• India and the European Union also adopted the “Towards 2030: India–European Union Joint Comprehensive Strategic Agenda” to provide long-term direction to bilateral cooperation.
• The strategic agenda is based on five key pillars: prosperity and sustainability, technology and innovation, security and defence, connectivity and global challenges, and enabling areas such as skills, mobility, business, and people-to-people ties.
• The partnership creates opportunities for Indian defence manufacturers as the European Union enhances its defence capacity.
• The European Union launched the ReArm Europe Plan / Readiness 2030 in March 2025, proposing over €800 billion in defence spending.
• European countries are increasingly sourcing munitions and defence components from India, strengthening India’s role as a trusted defence manufacturing hub.

CURRENT AFFAIRS: RANKING AND INDEX

Global Information Technology Services Brand Valuation Report 2026

• As per the Brand Finance report, the total brand value of the world’s top 25 Information Technology services brands reached United States Dollar 167.2 billion in 2026, recording a modest growth of 2 per cent compared to 2025.
• Continued uncertainty in global technology spending has impacted the brand valuation growth of the Information Technology services sector.
• Accenture retained its position as the world’s most valuable Information Technology services brand for the eighth consecutive year.
• Accenture’s brand value increased by 2 per cent to United States Dollar 42.3 billion in 2026.
• Tata Consultancy Services and Infosys retained their positions as the second and third most valuable Information Technology services brands globally.
• Eight Indian Information Technology services companies together account for 36 per cent of total brand value, amounting to United States Dollar 60.4 billion among the top 25 brands.
• Tata Consultancy Services, with a brand value of United States Dollar 21.2 billion, is the world’s second most valuable Information Technology services brand for the fifth consecutive year.
• The valuation declined marginally from United States Dollar 21.3 billion in 2025.
• Infosys, with a brand value of United States Dollar 16.4 billion, remains the third most valuable Information Technology services brand globally.
• Infosys recorded the fastest-growing compound annual growth rate of 15 per cent in brand value over the last six years.
• It achieved a Brand Strength Index score of 86.8 out of 100, making it the third-strongest Information Technology services brand worldwide.
• HCL Technologies recorded a 1 per cent increase in brand value to United States Dollar 9 billion and ranked eighth.
• Wipro recorded a 4 per cent increase in brand value to United States Dollar 6.3 billion and ranked ninth among the top 25 brands.
• Persistent Systems emerged as the fastest-growing Information Technology services brand of 2026.
• Its brand value rose by 22 per cent to United States Dollar 989 million.
• Growth was driven by sustained revenue expansion, hyperscale partnerships, product engineering expertise, and Artificial Intelligence modernisation mandates.
• According to Brand Finance, the expansion from seven to eight Indian brands in the global top 25 highlights the depth and maturity of India’s Information Technology services ecosystem.
• Indian companies are increasingly moving beyond scale, with growth driven by Artificial Intelligence, cloud computing, cybersecurity, specialised expertise, and long-term investment in next-generation technologies.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Japan Returns Its Last Two Giant Pandas to China, Ending Panda Presence Since 1972

• Japan decided to return its last two giant panda cubs to China, leaving the country without any pandas for the first time since 1972.
• Thousands of people gathered at Ueno Zoo to see the pandas for the last time, with some waiting over three and a half hours during the final viewing days in January 2026.
• The panda twins, Xiao Xiao and Lei Lei, were born in 2021 and were in Japan under a breeding research loan agreement.
• Under China’s panda diplomacy policy, China retains ownership of all pandas loaned abroad, with host countries typically paying around USD 1 million per pair annually.
• The departure of the pandas comes amid tense Japan-China relations, which deteriorated after Japanese PM Sanae Takaichi warned of military involvement if China attacked Taiwan.
• Visitors at the zoo were emotional, recalling the growth and milestones of the panda twins since their birth in 2021 and the return of their parents, Shin Shin and Ri Ri, in late 2024.
• The prospects of a new panda loan to Japan remain uncertain amid the escalating diplomatic row and the expiration of the current bilateral lease agreements.

Ola Electric Gets BIS Certification to Commercially Launch Residential Battery Energy Storage System

• Ola Electric has received Bureau of Indian Standards (BIS) certification to commercially launch its residential Battery Energy Storage System (BESS), marking its entry into the clean energy storage
• The approval covers the Ola Shakti 6kW/9.1kWh system, powered by indigenously developed 4680 Bharat Cells, with deliveries scheduled to begin by end-January 2026.
• Ola Electric claims this is India’s first fully designed, engineered, and manufactured residential BESS, supporting the country’s goal of energy self-reliance.
• The system features an IP67-rated, spill-proof battery, capable of powering high-load appliances such as air conditioners, refrigerators, induction cooktops, and farm pumps.

Embraer Partners with Adani Defence & Aerospace to Develop Made-in-India Regional Transport Aircraft

• Brazilian aerospace major Embraer has partnered with Adani Defence & Aerospace to develop a made-in-India Regional Transport Aircraft (RTA).
• The proposed RTA is designed to seat around 90 passengers with an operational range of 500–900 km, catering to India’s regional and commuter aviation
• The MoU focuses on local assembly and deeper indigenisation, aiming to establish India’s own Final Assembly Line (FAL) for regional aircraft.
• In aviation, the Final Assembly Line (FAL) is the last stage of aircraft manufacturing, where major components like the fuselage, wings, engines, landing gear, avionics, and interiors are assembled to build a complete aircraft.
• At the FAL stage, activities such as systems integration, testing, painting, ground checks, flight trials, and delivery preparations are conducted.
• The collaboration aims to build an integrated RTA ecosystem in India, including aircraft manufacturing, supply chains, aftermarket services, and pilot training.
• The partnership is aligned with India’s Aatmanirbhar Bharat initiative and the UDAN regional connectivity scheme, supporting enhanced air connectivity to Tier-II and Tier-III
• The industrial partnership will initially focus on establishing the assembly line, followed by a gradual increase in indigenisation to support India’s RTA programme.
• President and CEO of Adani Defence & Aerospace : Ashish Rajvanshi

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

State Bank of India Rises 6% in January, Surpasses ICICI Bank in Market Capitalisation After 6 Years

• State Bank of India (SBI) surpassed ICICI Bank to regain its position as the second-most valuable bank by market capitalization after a gap of more than six years.
• SBI’s market capitalisation rose to ₹9.60 trillion, slightly higher than ICICI Bank’s ₹9.57 trillion, while HDFC Bank remained the most valuable bank with a market cap of ₹14.16 trillion.
• Rating agencies such as S&P Global Ratings maintained a stable outlook on SBI, citing robust asset quality, profitability, liquidity, and strong government support.
• According to SBI’s shareholding pattern, Foreign Institutional Investors (FIIs) increased their holding in the bank to 10.34% in the December 2025 quarter.

About State Bank of India (SBI):

• Founded Year: 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Challa Sreenivasulu Setty
• Slogan: "The Banker to Every Indian"

CURRENT AFFAIRS: IMPORTANT DAYS

International Data Privacy Day 2026: January 28

• International Data Privacy Day is observed annually on 28 January to promote awareness about personal data protection and privacy in the digital age.
• The day was initiated in 2006 by the Council of Europe to commemorate the signing of Convention 108, the world’s first legally binding international treaty on data protection.
• The Government of India has highlighted key reforms, including the Digital Personal Data Protection Act, 2023, Digital Personal Data Protection Rules, 2025, and a ₹782 crore cybersecurity allocation in the Union Budget 2025–26.
• India is currently the third-largest digitalised economy in the world, with over 101.7 crore broadband users.
• Indian users spend nearly 1,000 minutes online daily, supported by some of the lowest data costs globally.
• Major platforms such as Aadhaar, Unified Payments Interface, MyGov, and eSanjeevani have transformed governance, payments, healthcare, and welfare delivery.
• The Information Technology Act, 2000 provides the foundational legal framework for electronic governance, digital signatures, and cybersecurity oversight in India.
• The Act empowers institutions such as the Indian Computer Emergency Response Team, which functions as the national cyber incident response agency.
• The Information Technology Intermediary Guidelines and Digital Media Ethics Code Rules, 2021 impose due diligence obligations on online platforms.
• The Digital Personal Data Protection Act, 2023, enacted on 11 August 2023, marks a shift towards citizen-centric data governance.
• The Act follows the SARAL approach, meaning Simple, Accessible, Rational, and Actionable regulation.
• It recognises individuals as Data Principals and grants rights related to consent, access, correction, erasure, and nomination.
• The Act establishes the Data Protection Board of India for enforcement, grievance redressal, and handling of personal data breaches.
• The law aims to balance privacy protection, innovation, and public interest requirements.
• The Digital Personal Data Protection Rules, 2025, notified in November 2025, operationalise the Act by defining procedures, timelines, and compliance mechanisms.
• The rules strengthen consent frameworks, breach reporting norms, and responsibilities of data fiduciaries.
• In the Union Budget 2025–26, the Government allocated ₹782 crore specifically for cybersecurity strengthening.

Daily CA One- Liner: January 29

• Researchers from Indian Institute of Technology Guwahati have developed a new scientific framework to predict glacial hazards in the Eastern Himalayan region.
• The Government of Uttarakhand has implemented the Uniform Civil Code (Amendment) Ordinance, 2026 after receiving approval from the Governor of Uttarakhand, giving the ordinance immediate legal effect
• The Government of Gujarat has announced Indian Rupees 1,250 crore financial assistance under the Namo Laxmi Scheme for the 2025–26 academic year.
• Kerala has officially declared Bacillus subtilis as its State Microbe, becoming the first Indian state to accord formal recognition to a microorganism
• Taylor Swift (aged 36) will become the second-youngest songwriter to be inducted into the Songwriters Hall of Fame.
• India and the European Union signed their first comprehensive Defence and Security Partnership, alongside the conclusion of the India–European Union Free Trade Agreement.
• As per the Brand Finance report, the total brand value of the world’s top 25 Information Technology services brands reached United States Dollar 167.2 billion in 2026, recording a modest growth of 2 per cent compared to 2025.
• International Data Privacy Day is observed annually on 28 January to promote awareness about personal data protection and privacy in the digital age.
• The Reserve Bank of India (RBI) and the European Securities and Markets Authority (ESMA) signed a Memorandum of Understanding (MoU) on January 27, 2026, for cooperation and information exchange related to Central Counterparties (CCPs) regulated by RBI.
• A survey by the Securities and Exchange Board of India (SEBI) revealed that out of 33.72 crore Indian households, only 3.21 crore households (9.5%) invested in securities markets such as equities, mutual funds, and corporate bonds.
• Bharti AXA Life Insurance has launched a non-linked, non-participating individual deferred annuity plan named “Swabhimaan Retirement” to help customers lock in current annuity rates and secure guaranteed lifelong income.
• The Reserve Bank of India (RBI) issued the Priority Sector Lending (PSL) (Targets and Classification) Amendment Directions, 2026, to align the Priority Sector Lending (PSL) framework with updated capital adequacy, credit risk transfer, securitisation, and regulatory norms notified in 2025.
• The Reserve Bank of India (RBI) issued the revised Integrated Ombudsman Scheme, which will come into effect from 1 July 2026, to strengthen the RBI Ombudsman framework and improve efficiency in complaint resolution.
• SMFG India Credit (SMICC) has partnered with Google Pay to offer collateral-free personal loans to users across India.
• The Reserve Bank of India (RBI) has notified the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026, replacing the 2015 regulations, effective from 1 October 2026.
• The Reserve Bank of India (RBI) has proposed changes to the framework for calculating banks’ net foreign exchange (FX) exposure and the capital requirements for FX risk.
• The United Nations Environment Programme (UNEP) released the 4th edition of the report titled “State of Finances for Nature: Nature in the Red – Powering the Trillion Dollar Nature Transition Economy”, based on global financial data of 2023.
• Veteran Indian sports administrator and 5-time Olympic shooter Randhir Singh announced his premature resignation as President of the Olympic Council of Asia (OCA) due to health reasons.
• The All India Football Federation (AIFF) has officially appointed Amelia Valverde as the Head Coach of the Indian Senior Women’s National Football Team.
• Japan decided to return its last two giant panda cubs to China, leaving the country without any pandas for the first time since 1972.
• Ola Electric has received Bureau of Indian Standards (BIS) certification to commercially launch its residential Battery Energy Storage System (BESS), marking its entry into the clean energy storage
• Brazilian aerospace major Embraer has partnered with Adani Defence & Aerospace to develop a made-in-India Regional Transport Aircraft (RTA).
• State Bank of India (SBI) surpassed ICICI Bank to regain its position as the second-most valuable bank by market capitalization after a gap of more than six years.