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CURRENT AFFAIRS: BANKING & FINANCE

Securities and Exchange Board of India Launches Dharohar: A Digital Tribute to India’s Securities Market Legacy

• On January 26, 2025, during the 76th Republic Day celebrations, the Securities and Exchange Board of India (SEBI) unveiled Dharohar - Milestones in the Indian Securities Market, a comprehensive digital knowledge repository.
• This initiative chronicles the vibrant history of India’s securities market, spanning over 150 years of organized trading and highlighting its evolution into a diverse and dynamic ecosystem.

Key Highlights:

• Dharohar is a state-of-the-art repository designed to serve a broad audience—students, investors, researchers, journalists, market participants, and the general public. It features:
• Interactive Timelines of pivotal moments in the market's history.
• 3D Galleries for a visually engaging exploration of market milestones.
• Over 3,000 Assets, including historic newspaper clippings, share certificates, regulations, interviews with industry leaders, videos, infographics, and committee reports.
• The platform provides an immersive and educational experience, offering valuable insights into the market’s diverse products, participants, and institutions.
• Dharohar is not static; it is a living repository expected to grow continually with fresh content, ensuring users gain access to the latest and most relevant information about India’s securities market.
• SEBI has expressed gratitude to the many contributors who made this initiative possible, including former chairpersons, whole-time members, scripophilists, market infrastructure institutions, and industry experts.
• This initiative reflects SEBI's dedication to preserving the rich legacy of India’s securities market while fostering greater awareness and understanding among diverse stakeholders.
• By documenting key milestones, Dharohar stands as a testament to the market’s growth and resilience, celebrating its contribution to the nation’s economic journey.
• Dharohar is freely accessible online at Transform Your Investments with "Traditional Wisdom" Using "Modern Tools."

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 : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Reserve Bank of India announces steps to inject liquidity in banking system

• The Reserve Bank of India (RBI) announced measures to provide relief to India's banking system by injecting liquidity.
• This includes purchasing government securities (G-Secs) worth ₹60,000 crore through open market operations (OMOs) in three tranches of ₹20,000 crore
• These auctions will take place on 30 January, 13 February, and 20 February.
• Through this initiative, RBI aims to purchase G-Secs from the open market, thereby injecting liquidity into the system.
• Additionally, the RBI will conduct a 56-day variable rate repo (VRR) auction worth ₹50,000 crore on 7 February and a dollar-rupee sell swap auction of $5 billion for a six-month tenor on 31 January.
• The VRR auction is designed to ensure sufficient liquidity to meet the needs of banks until 31 March.
• Under the dollar-rupee swap, RBI will buy dollars from banks in exchange for rupees, injecting rupees into the system, and then sell the dollars back after six months.
• These measures come in response to an average liquidity deficit that crossed ₹3 trillion last week, largely due to heavy GST outflows.
• The RBI has been actively intervening in the forex market to prevent excessive volatility in the rupee.
• However, the currency has depreciated significantly since September, as foreign portfolio investors aggressively sold Indian stocks and bought dollars to repatriate funds.
• These measures, collectively worth ₹1.5 trillion, aim to stabilize the liquidity situation and set the stage for a potential interest rate cut next week.

What is Open Market Operations?

• Open market operations refer to the selling and purchasing of the treasury bills and government securities by the central bank of any country in order to regulate money supply in the economy.

Recent News:

• In January 2025, The Reserve Bank of India (RBI) approved the establishment of the National Urban Cooperative Finance and Development Corporation (NUCFDC) to support Urban Cooperative Banks (UCBs) in improving operational efficiency, technological adoption, and financial stability.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Ratnakar Bank Limited & Piramal Finance partner to offer Co-Lending Business

• Ratnakar Bank Limited (RBL Bank), a private sector bank, and Piramal Capital and Housing Finance (Piramal Finance), a subsidiary of Piramal Enterprises Limited, have announced a strategic co-lending partnership.
• The collaboration focuses on providing loans to middle- and low-income borrowers in rural and semi-urban regions.
• This is Piramal Finance’s third co-lending partnership, following similar collaborations with Axis Bank and the Central Bank of India.

Key Highlights:

• The partnership combines RBL Bank’s financial expertise and a network of over 2,000 touchpoints with Piramal Finance’s advanced loan processing technology (‘High Tech + High Touch’) and 508 branches across 13,000 pin codes.
• Together, they aim to address the credit gap for MSMEs, home loan borrowers, and underserved communities in Tier 2 and Tier 3 cities.
• The collaboration seeks to leverage Piramal Finance’s technology-driven credit assessment tools and RBL Bank’s rigorous underwriting practices to deliver competitive interest rates and tailored lending solutions.
• Serving 1.3 million active customers across 26 states, the partnership aspires to bridge the credit gap for borrowers in the unorganised sector and expand access to credit in India’s emerging markets, driving growth in rural and semi-urban regions.

About RBL Bank:

• Founded: 1943
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: R. Subramaniakumar
• Tagline: "Apno ka Bank"

About Piramal Capital and Housing Finance:

• Headquarters: Mumbai, Maharashtra, India
• MD: Jairam Sridharan

New fixed deposit schemes launched in January 2025: Interest rate of SBI, IDBI Bank, PNB, Bank of Baroda new FD schemes

• In the face of intense competition for deposits, many big banks such as State Bank of India (SI), IDBI Bank, Punjab National Bank, Bank of Baroda have introduced new schemes and enhanced fixed deposit (FD) products, offering higher returns, greater flexibility, and tailored options for specific customer segments in January 2025.

Bank Schemes and Interest Rates:

Bank Name	Scheme Name	Key Features	Interest Rate
State Bank of India (SBI)	Har Ghar Lakhpati RD Scheme	Pre-calculated recurring deposit to accumulate ₹1 lakh or its multiples; Open to minors	Interest rate varies between 7% to 7.5%
State Bank of India (SBI)	SBI Patrons FD	Exclusive for super senior citizens (80+ years); Additional 0.10% interest over senior citizen rates	Up to 7.6% for a tenure of 2-3 years (super senior citizens)
Punjab National Bank (PNB)	Two new tenures introduced	303 days and 506 days tenure introduced	303 days: 7% (general citizens); 506 days: 6.7% (general citizens); Senior citizens: additional 0.50%
IDBI Bank	IDBI Chiranjeevi-Super Senior Citizen FD	Limited-period Utsav FD scheme for super senior citizens; Flexible tenures with attractive rates	8.05% for 555 days; Other options: 375 days: 7.90%, 444 days: 8.00%, 700 days: 7.85%
Bank of Baroda (BoB)	BoB Liquid Fixed Deposit	Allows partial withdrawals without closing the entire deposit; Reduces premature withdrawal penalties; Ensures liquidity with competitive rates	Highest rate: 7.30% for 400 days (Utsav Deposit Scheme); Senior citizens: additional 0.50%

Slice to rebrand as Slice Small Finance Bank

• Slice, a prominent fintech company, will be rebranded as Slice Small Finance Bank Limited (Slice SFB) following its merger with North East Small Finance Bank (NESFB).
• This merger, which has received key regulatory approvals, including a No Objection Certificate (NOC) from the Reserve Bank of India (RBI), marks the creation of India's first fintech bank.
• The finalization of the merger will occur once all regulatory and compliance requirements are met, paving the way for nationwide expansion.

Key Highlights:

• Slice SFB plans to broaden its reach beyond the
• The bank aims to expand across both physical and digital channels, with plans to serve customers through branches, experience centers, and the Slice app.
• The first three cities targeted for expansion outside the Northeast are Bengaluru, Mumbai, and Delhi.
• Slice SFB is expected to introduce a variety of financial products, including agri loans, MSME loans, payroll management services, and others.
• The bank will also focus on increasing customer deposits, expanding in the consumer and merchant banking
• To support its expansion, Slice SFB plans to hire across various roles to strengthen branch operations and customer service capabilities.
• Additionally, the bank will ramp up its digital presence to support infrastructure and enhance customer engagement.
• Post-merger, Slice SFB's net worth stands at ₹912.58 crore, with a capital to risk-weighted assets ratio (CRAR) of 23.67%.
• The Net Non-Performing Assets (NNPA) ratio has improved from 6.69% to 4.62%, showcasing an improvement in asset quality.
• In October 2024, Slice received approval from the National Company Law Tribunal (NCLT) for its merger with NESFB, marking a significant step in its journey toward becoming a fintech bank.

About Slice fintech company:

• Headquarters: Bengaluru, Karnataka, India.
• CEO: Rajan Bajaj

United Payments Interface (UPI) dominates digital payments, sees 83% growth over five years

• The United Payments Interface (UPI) has become the dominant platform in India’s digital payments ecosystem, capturing 83% of the total payment volume by the end of 2024, a significant rise from 34% in 2019, according to the Reserve Bank of India (RBI) Payments System Report.
• UPI's transaction volume surged from 375 crore in 2018 to 17,221 crore by 2024, contributing to a total digital payments volume of 20,787 crore transactions.
• The value of UPI transactions also saw a remarkable jump from ₹5.86 lakh crore (US$ 67.71 billion) in 2018 to ₹246.83 lakh crore (US$ 2,852 billion) in 2024, reflecting an extraordinary compounded annual growth rate (CAGR) of 89.3% in volume and 86.5% in value over five years.
• Simultaneously, the share of other payment systems such as Real-Time Gross Settlement (RTGS), National Electronic Funds Transfer (NEFT), Immediate Payment Service (IMPS), and card-based payments dropped to just 17%.
• India's overall payment ecosystem has experienced unprecedented growth, with the total transaction value rising from ₹1,775 lakh crore (US$ 20,510 billion) in 2019 to ₹2,830 lakh crore (US$ 32,701 billion) in 2024.
• Retail digital payments alone grew nearly 100 times over the past 12 years, reaching 16,416 crore transactions in FY25.
• The RBI’s Digital Payment Index also highlighted this growth, increasing from a base of 100 in March 2018 to 445.50 in March 2024.
• T. Rabi Sankar, Deputy Governor of RBI, attributed this success to continuous innovation and regulatory support, which have positioned India's payment systems among the most modern globally.
• Over the past five years, digital payments recorded a five-year CAGR of 45.9% in volume and 10.2% in value, underscoring India’s ongoing digital transformation.

About UPI:

• Unified Payments Interface (UPI) is a real-time payment system that enables seamless and instant money transfers between bank accounts using mobile devices. It allows users to transfer funds, pay bills, and make purchases without needing to remember bank account details.
• Established Year: 2016
• Developed by: National Payments Corporation of India (NPCI)

Reserve Bank of India supersedes board of Aviom India Housing Finance due to governance concerns

• The Reserve Bank of India (RBI) has superseded the board of Aviom India Housing Finance Private Limited due to the company's inability to meet payment obligations and concerns about governance practices.
• As part of its intervention, the RBI has appointed Ram Kumar, a former CGM of Punjab National Bank, as the Administrator of the New Delhi-based company.
• The RBI also indicated that it would soon initiate bankruptcy proceedings against the housing finance company (HFC).
• This decision comes following a recommendation from the National Housing Bank (NHB).
• The RBI stated that the appointment of Kumar was intended to ensure that Aviom India Housing Finance adheres to proper financial and governance standards while protecting the interests of its stakeholders.
• The RBI further announced that it would file an application with the New Delhi bench of the National Company Law Tribunal (NCLT) to appoint Kumar as the insolvency resolution professional (IRP).
• Aviom India Housing Finance primarily caters to low-income households in semi-urban areas and provides loans to women borrowers who lack formal income documentation.
• In November 2024, the company informed its creditors that a forensic audit, conducted by the NHB, uncovered fraudulent transactions during an inspection.
• These findings could lead to financial restatements, significantly impacting the company's ability to raise capital and exacerbating its liquidity challenges.

About Aviom India Housing Finance:

• Headquarters: New Delhi, India
• Founded: 2008

Reserve Bank of India Tightens Vigil on peer-to-peer (P2P) Lending Platforms After Revising Guidelines

• The Reserve Bank of India (RBI) has increased its scrutiny of peer-to-peer (P2P) lending platforms, sending an 18-point questionnaire to 8 prominent financial technology companies in the P2P space, including LiquiLoans, Monexo, i2iFunding, and IndiaP2P.
• This follows the RBI's revision of P2P lending norms in August 2024.

Key Aspects of the RBI's Questionnaire:

• Compliance with Updated P2P Guidelines: The questionnaire aims to assess how well the companies adhere to the revised P2P lending norms, specifically focusing on the T+1 timeline for fund transfers.
• Operational Details: Companies were asked to provide a visual representation of the flow of funds, snapshots of advertisements for P2P loan products, and details about cross-selling practices.
• Regulatory Compliance: The RBI has raised concerns about:
  • Non-disclosure of Losses: Some NBFC-P2Ps have failed to disclose losses incurred by lenders, which the RBI has flagged.
  • Improper Loan Disbursement: Complaints have emerged alleging that loans were disbursed without prior approval from lenders.
  • Escrow Account Violations: Companies are required to report funds that exceeded the T+1 limit for escrow account transfers, as of December 15, 2024.
• The RBI aims to ensure that P2P firms are in full compliance with its updated guidelines, especially in areas such as fund transfer processes, loan approval mechanisms, and the marketing of P2P products.
• In its inquiry, the RBI also requests clarification on whether P2P products are being marketed as lending or investment products.
• The P2P lending sector currently has 26 licensed players, but only 10–11 are actively operating.
• The total assets under management (AUM) in the sector stand at ₹11,000 crore.
• The industry has raised concerns about the T+1 mandate for clearing funds in escrow accounts, requesting the RBI to reconsider it.

What Is Peer-to-Peer (P2P) Lending?

• Peer-to-peer (P2P) lending makes it possible for individuals to obtain loans directly from other individuals, without going through a bank or other financial institution.
• P2P lending is also known as "social lending" or “crowd lending".

Residential Mortgage-Backed Securitisation Development Company Limited Receives Reserve Bank of India Certificate of Registration to Commence Operations

• RMBS Development Company Limited (RDCL) received the Certificate of Registration (CoR) from the Reserve Bank of India (RBI) on January 23, 2025, enabling it to commence operations.
• National Housing Bank (NHB), a statutory body under the Government of India, established RDCL as its single largest shareholder, supported by a diverse mix of investors, including Banks, Housing Finance Companies (HFCs), Non-Banking Financial Companies (NBFCs), and Insurance Companies.
• The Company aims to act as a commercially sustainable market intermediary to facilitate the growth of the Residential Mortgage-Backed Securitisation (RMBS) market in India.
• This operationalization will create investment avenues for long-term institutional investors such as Insurance Companies, Pension Funds, and Provident Funds, contributing to market confidence and development.

Key Activities of RDCL:

• Investing in RMBS issuances.
• Providing second loss credit enhancements.
• Supporting liquidity.
• Promoting standardized processes and documentation.
• Engaging in other market development activities.
• A well-developed RMBS market is expected to serve as a reliable complement to existing funding sources for Primary Lending Institutions. Over the past five years, individual housing loans outstanding have grown from ₹17.95 lakh crore as of March 31, 2019, to ₹33.19 lakh crore as of March 31, 2024, reflecting a CAGR of 13.1%, with further growth anticipated.
• The paid-up capital of RDCL is ₹500 crore, and its Registered Office is located in Mumbai. The Company is scheduled to begin operations in March 2025.

Investment Announcements Soar 39% in FY25: State Bank of India Report

• The total investment announcements stood at ₹32.01 lakh crore in the nine months this fiscal (FY25), marking a 39% increase from ₹23 lakh crore in the same period last fiscal, reflecting a positive investment outlook, the government stated on January 26, 2025, citing a recent report by the State Bank of India (SBI).
• The private sector played a dominant role, contributing nearly 70% of these announcements in FY25, compared to 56% in FY24, reflecting strong corporate confidence.
• As of March 2024, the gross block of Indian corporates reached ₹106.50 lakh crore, up from ₹73.94 lakh crore in March 2020, with an annual average addition of more than ₹8 lakh crore over the last five years.
• Furthermore, capital work in progress stood at ₹13.63 lakh crore in March 2024, showcasing robust ongoing project development.
• Household Net Financial Savings (HNFS) improved to 5.3% of GDP in FY24 from 5% in FY23, while savings in physical assets increased from 12.9% of GDP in FY23 to 13.5% in FY24.
• Investment as a share of GDP has also improved in recent years, driven by contributions from both the government and private sectors.
• Government investment reached 4.1% of GDP in FY23, the highest since FY12, while private corporate investment rose to 11.9% of GDP in FY23, its highest level since FY16, and is projected to further increase to 12.5% in FY24, reflecting improved business sentiment.
• India’s external commercial borrowings (ECBs) have also seen significant developments, with total outstanding ECBs reaching $190.4 billion as of September 2024.
• By November 2024, total ECB registrations stood at $33.8 billion, with nearly half of the amount directed toward the import of capital goods, modernisation, local capital expenditure, and new projects.

Recent News:

• In January 2025, The State Bank of India (SBI) launched a fully digital, TAB-based onboarding process for NRIs to open NRE and NRO

CURRENT AFFAIRS: NATIONAL NEWS

India's Participation at FITUR 2025: A Strategic Push for Tourism Growth from Spain and Latin America

• The Ministry of Tourism, Government of India, participated in FITUR 2025, one of the leading travel fairs held in Madrid, Spain, from January 22-26, 2025.
• This global exhibition serves as a crucial platform for positioning India as a prime travel destination for Spain and Latin America, marking a key step in boosting inbound tourism from these regions.

Key Highlights:

• Inauguration of the India Pavilion:
  • The Incredible India pavilion was inaugurated by E. Shri Dinesh K. Patnaik, Ambassador of India to Spain, on January 22, 2025.
  • The ceremony was attended by officials from the Ministry of Tourism, State governments, and co-exhibitors.
• Indian Delegation and Participation:
  • Over 23 co-exhibitors participated, representing State Governments of Karnataka, Sikkim, Chhattisgarh, and Jharkhand, among others.
  • The pavilion showcased India’s diverse tourism products and experiences, including cultural heritage, wildlife sanctuaries, spiritual destinations, and traditional dance forms.
• Highlighting Unique Destinations:
  • The pavilion emphasized Prayagraj as a spiritual and cultural hub, spotlighting the significance of the Maha Kumbh
  • India’s rich cultural and natural heritage was prominently displayed, appealing to travelers seeking authentic and unique experiences.
• Spain's Growing Interest in India:
  • Spain ranks among the top 20 tourist-generating markets for India.
  • In 2023, 70,000 Spanish tourists visited India, nearly doubling the number from 2022.
• Dual Year of Culture, Tourism, and AI:
  • The year 2026 will celebrate the 70th year of diplomatic relations between India and Spain, designated as the Dual Year of Culture, Tourism, and Artificial Intelligence.
• Chalo India Initiative:
  • The Ministry of Tourism launched the ‘Chalo India Initiative’ to encourage the Indian diaspora to promote tourism.
  • Indian diaspora members can register on the Chalo India portal (www.chaloindia.gov.in) to receive a referral code and invite 5 non-Indian friends to visit India.

THDC India Achieves Milestone with COD of Khurja Super Thermal Power Plant (KSTPP)

• THDC India Limited (THDCIL), a Mini-Ratna Public Sector Enterprise, has marked a significant achievement in India's power sector with the Commercial Operation Date (COD) of Unit #1 of the 1320 MW Khurja Super Thermal Power Plant (KSTPP), announced on January 25, 2025.
• This milestone reinforces the company's commitment to enhancing India’s power generation capacity and contributing to the country's journey toward energy self-reliance.

Key Highlights of the Achievement:

1. COD Declaration:
   • The Commercial Operation Date (COD) for Unit #1 (660 MW) of KSTPP was declared at midnight on January 25, 2025.
   • The plant has successfully completed its synchronization with the grid, full load testing (660 MW), and 72-hour trial run on full load.
2. Project Significance:
   • The Khurja STPP project is a significant step for THDCIL, traditionally focused on hydropower, but now showing expertise in thermal power.
   • This achievement highlights THDCIL’s diverse capabilities and contributes to India’s Sustainable Energy future.
3. Flue Gas De-sulphurization (FGD) System:
   • The plant integrates a unique Flue Gas De-sulphurization (FGD) system to control emissions, particularly Sulphur Dioxide (SO₂), improving air quality and reducing the environmental impact of fossil fuel usage.
   • The FGD system was completed in a record time, underscoring the efficiency of the project team.
4. Contribution to Energy Supply:
   • Upon COD, the Khurja STPP will supply electricity to Uttar Pradesh (64.7%), Rajasthan (21.3%), Uttarakhand (3.9%), and Unallocated regions (10.1%), stabilizing and boosting the electricity grid.

Future Projects and Role in National Energy Sector:

• THDCIL is also overseeing major ongoing projects, including:
  • 1000 MW Tehri Pumped Storage Plant
  • 444 MW Vishnugad Pipalkoti Hydro Electric Project
• THDCIL, a subsidiary of NTPC, continues to play a pivotal role in strengthening India's energy infrastructure and contributing to economic growth and energy security.

CURRENT AFFAIRS: STATE NEWS

Haryana Chief Minister inaugurates 324 new creche centres on completion of 100 days of government

• Haryana Chief Minister Nayab Singh Saini inaugurated 324 crèches across the state, aimed at assisting working women and providing a safe environment for their children.
• All women Sarpanches will now serve as brand ambassadors of their villages to accelerate the 'Beti Bachao, Beti Padhao' campaign.
• Under the 'Bima Sakhi Yojana,' women will earn a monthly salary along with insurance commissions and additional incentives.
• The 'Har Ghar-Har Grihini Yojana' provides gas cylinders to 13.24 lakh poor families for only ₹500 per month.
• The honorarium for Anganwadi workers and assistants has been increased by ₹750 and ₹400,
• The 'Lakhpati Didi Yojana' aims to empower 5 lakh women by supporting micro-enterprises, with 1.85 lakh women already benefiting from the scheme.
• Drone pilot training will be provided to 5,000 women under the 'Namo Drone Didi' vision, with 100 women already receiving free drones worth ₹8 lakh each.

Recent News:

• In December, 2024 the Haryana Steelers achieved a historic milestone by clinching their first-ever Pro Kabaddi League (PKL) title.

About Haryana:

• Chief Minister: Nayab Singh Saini
• Governor: Bandaru Dattatreya
• Capital: Chandigarh
• National Parks: Sultanpur National Park, Kalesar National Park
• Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife Sanctuary

Telangana government begins disbursal of Rythu Bharosa benefits

• The Rythu Bharosa scheme is one of the four welfare programmes launched on Republic Day, January 26, alongside the Indiramma Housing Scheme, Indiramma Atmeeya Bharosa Scheme, and the issuance of new ration cards.
• On the first day, 6,15,677 people across 563 villages benefited from these schemes.
• Under the Rythu Bharosa scheme, the government disbursed Rs 569 crore to 4,41,911 farmers in 577 villages, covering 9,48,333 acres of cultivable land. Farmers receive Rs 6,000 per acre per season as crop investment support, and the scheme will continue disbursements until March 31.
• Through the Indiramma Aatmeeya Bharosa Scheme, the government credited Rs 10.91 crore into the accounts of 18,180 landless agriculture labourers, providing Rs 6,000 per season as financial assistance.
• The government issued 15,141 new ration cards in 531 villages, benefiting 51,912 families, and added 1.03 lakh members to existing ration cards. These beneficiaries will start receiving rations from February.
• Under the Indiramma Housing Scheme, 72 houses were sanctioned.
• Due to the large number of applications for ration cards and Indiramma houses, the government has extended the deadline until March, and officials are verifying applications to finalise the list of beneficiaries.

Recent News:

• In January 2025, Telangana Secures ₹1.78 Lakh Crore Investments at WEF Davos 2025

About Telangana:

• Capital: Hyderabad
• Governor: Jishnu Dev Varma
• Chief Minister: Anumula Revanth Reddy
• National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife Sanctuary

Assam to develop Dibrugarh as second capital: Chief Minister Himanta Biswa Sarma's Announcement

• Assam Chief Minister Himanta Biswa Sarma announced that Dibrugarh, located 478 km east of Guwahati, will be developed into the state's second capital within the next three years.
• This move is part of a larger plan to distribute administrative functions more evenly across the state, enhance development, and cater to the diverse population.
• It is also seen as an outreach strategy ahead of the upcoming assembly elections in Assam.
• Historically, Shillong served as Assam's capital during the British colonial era until Meghalaya became a separate state in 1972, after which Guwahati became the capital in 1973.
• The Chief Minister made this announcement during the state government's official Republic Day celebrations, which were held for the first time in
• As part of the development, a permanent assembly building will be constructed in Dibrugarh, with the foundation stone set to be laid on January 25, 2026.
• Starting in 2027, one annual assembly session will be held in the city, further establishing it as a political hub.

Recent News:

• In January 2025, Assam launched the 1st phase of its Gunotsav 2025, a flagship education evaluation program. The initiative aims to assess and improve the quality of education for 11 lakh students across the state.

About Assam:

• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary

Uttarakhand Government Implements Uniform Civil Code; Chief Minister Releases Rules and Launches Portal

• Uttarakhand becomes the first state in India to implement the Uniform Civil Code (UCC), aiming to standardise personal laws across all religions, ensuring equality and constitutional rights for all citizens, especially women.

Key Features:

• Statewide Application: Applies to the entire state of Uttarakhand and its residents, even those living outside the state.
• Scheduled Tribes and certain protected communities are exempt.
• UCC Portal: A newly launched portal (uk.gov.in) allows online registration for civil services and provides easy access to UCC-related legal information.

• Portal Features:
  • Available in Hindi and English, and accessible in 23 languages.
  • Services include live-in relationship registration, certificate downloading and verification.
• Marriage Provisions under UCC:
  • Legal Age: 21 years for men, 18 years for women.
  • Prohibited Practices: Bans on polygamy and the practice of halala.
  • Mandatory Marriage Registration: All marriages must be registered within 60 days, with extended registration time for those before March 26, 2010, or outside Uttarakhand.
• Divorce Provisions: Grounds for divorce are identical for both husbands and wives, promoting gender equality.
• Broader Implications: The implementation of UCC is seen as a step towards gender equality and secularism, but it also raises concerns about its potential impact on cultural and religious diversity.

Recent News:

• In December 2024, Uttarakhand, known as Devbhoomi, is set to become a global yoga hub with India’s first dedicated Yoga Policy.

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

CURRENT AFFAIRS: BUSINESS NEWS

Indian Automobile Exports Surge by 19% in 2024: Strong Growth Across Segments

• India’s automobile exports have experienced a 19% YoY growth in 2024, with total exports reaching 50,98,810 units, up from 42,85,809 units in 2023, according to data from the Society of Indian Automobile Manufacturers (SIAM).
• The surge is largely attributed to increased demand from emerging markets such as Latin America and Africa.

Key Highlights:

• Overall Growth:
  • Total automobile exports grew by 19% YoY, reaching 50,98,810 units in 2024.
  • The growth was fueled by strong demand across two-wheelers, passenger vehicles, and commercial vehicles.
• Passenger Vehicle Exports:
  • Increased by 10%, totaling 7,43,976 units in 2024, up from 6,77,956 units in 2023.
  • Utility vehicle exports saw a significant rise of 33%, reaching 3,23,621 units.
  • Van exports rose by 14%, amounting to 8,207 units.
  • Passenger car exports fell by 4%, totaling 4,12,148 units.
• Two-Wheeler Exports:
  • Two-wheeler exports grew by 23%, reaching 39,77,162 units.
  • Motorcycle exports rose by 24% to 33,97,586 units.
  • Scooter exports increased to 5,73,230 units, and moped exports saw a significant surge of 89%, totaling 6,346 units.
• Commercial Vehicle Exports:
  • Increased by 6%, reaching 72,511 units.
• Three-Wheeler Exports:
  • Three-wheeler exports grew by 2%, totaling 2,98,235 units.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Lukashenko secures 7th term as president of Belarus

• Alexander Lukashenko has been reelected president of Belarus, securing a 7th five-year term.
• According to preliminary results from the Central Election Commission cited by the state news agency Belta, Lukashenko won 86.82% of the vote in the presidential election held on January 26, 2025.
• His closest rival, Sergei Syrankov, received 3.21%, followed by Oleg Gaidukevich with 2.02%, Anna Kanopatskaya with 1.86%, and Alexander Khizhnyak with 1.74%.
• Under Belarusian law, a candidate must secure over 50% of the vote to win the presidency.
• The election commission is expected to release final results by 5.
• Over 6.9 million citizens were eligible to vote, and early voting took place from Jan. 21-25.
• Nearly 500 international observers were accredited to monitor the election.
• Lukashenko has been in office since 1994, when he won Belarus's first presidential election.

About Belarus:

• Capital: Minsk
• Currency: Belarusian ruble (BYN)
• President: Alexander Lukashenko
• Prime Minister: Roman Golovchenko

Sridhar Vembu steps down as Chief Executive Officer of Zoho Corporation

• Sridhar Vembu, co-founder and Chief Executive Officer of Zoho Corp, will step down from his role as CEO and take on a new position as Chief Scientist.
• In this role, he will focus on deep R&D initiatives.
• Shailesh Kumar Davey, another co-founder, will take over as the new Group CEO of Zoho Corp.
• Vembu stated that the decision was driven by the rapid developments in Artificial Intelligence (AI) and his desire to focus on R&D and his rural development mission.
• Vembu believes the future of the company depends on how well it navigates the AI challenge.
• Vembu acknowledged that AI is a huge opportunity and challenge for tech companies.
• He emphasized the importance of reinventing the company to adapt to the AI era.

Other Appointments:

• Tony Thomas will lead Zoho US.
• Rajesh Ganesan will head the ManageEngine division.
• Mani Vembu will lead the com division.

About Zoho:

• Zoho Corp was founded in 1996 as AdventNet with a focus on network management.
• In 2009, it rebranded to Zoho Corporation.
• Zoho is headquartered in Chennai, Tamil Nadu, India.

CURRENT AFFAIRS: AWARDS AND HONOURS

Shri Hariman Sharma: The Apple Man of India Honored with Padma Shri

• Shri Hariman Sharma, a pioneering farmer from Himachal Pradesh, has been awarded the prestigious Padma Shri (2025) for his revolutionary contributions to Indian agriculture.
• Known as the Apple Man of India, Shri Sharma developed the HRMN-99 apple variety, transforming apple farming by enabling cultivation in tropical and subtropical regions.

Key Highlights

1. Journey and Background

• Birthplace: Paniala, Bilaspur, Himachal Pradesh.
• Orphaned in childhood, he pursued education up to matriculation and developed a passion for farming and pomology.
• Overcame numerous challenges to innovate and contribute significantly to agriculture.

2. Innovation: HRMN-99 Apple Variety

• Developed in 1998 by planting seeds from discarded apples in his backyard.
• Thrives in warm climates with temperatures between 40–45°C and at elevations as low as 1,800 feet.

Unique Features:

• Self-pollinating with a low chilling requirement.
• Produces up to 75 kg of fruit per plant annually.
• Fruits have soft, juicy pulp and a striped red-over-yellow skin.

3. Expansion and Recognition

• Validation: Supported by the National Innovation Foundation (NIF) in collaboration with ICAR, KVKs, and agricultural universities.
• Widespread Cultivation: Now grown in 29 states and UTs, including regions like Bihar, Maharashtra, Karnataka, and the Northeast.
• Planted at Rashtrapati Bhavan and promoted for large-scale adoption.
• Over 1 lakh saplings planted across northeastern states, significantly enhancing farmer livelihoods.

4. Awards and Achievements

• Padma Shri (2025) for exceptional contributions to Indian agriculture.
• National Award (2017) during the 9th National Biennial Grassroots Innovation Awards.
• National Innovative Farmer Award (2016).
• IARI Fellow Award (2017) and Kisan Vaigyanik Upadhi by ICAR (2017).
• Represented India at the 4th ASEAN India Grassroots Innovation Forum (2023) in Malaysia.

Doordarshan Honored for Electoral Campaigns on Voter Awareness

• Doordarshan, India’s national broadcaster, has been recognized with an award in the Electronic Media category for its exemplary Voter Awareness and Education Campaign during the Lok Sabha Elections 2024.
• The campaign, highlighted by the impactful series “Chunav Ka Parv Desh Ka Garv”, played a pivotal role in fostering an informed and active citizenry.
• President Droupadi Murmu presented the award to Doordarshan’s Director-General Kanchan Prasad during the Republic Day 2025

Key Highlights

1. Award Category

• Recognized in the Electronic Media category for voter awareness campaigns.

2. Recognition for Series

• Highlighting the special series “Chunav Ka Parv Desh Ka Garv”, aired during the Lok Sabha Elections 2024.

3. Presented By

• Award received by Kanchan Prasad, Director-General of Doordarshan, from President Droupadi Murmu.

4. Campaign Coverage

• Produced and broadcast 30 voter education short films.
• Disseminated content in multiple languages through DD National, DD India, and DD News
• Designed advertisements to inspire voter participation, particularly targeting first-time voters.
• Reached remote areas across the country, ensuring wide accessibility.

CURRENT AFFAIRS: SPORTS NEWS

New Zealand’s Melie Kerr: Winner of the Rachael Heyhoe Flint Trophy

• Melie Kerr, the dynamic all-rounder from New Zealand, emerged as the standout performer in women’s cricket, securing the Rachael Heyhoe Flint Trophy (ICC Women’s Player of the Year 2024).
• Kerr’s exceptional all-round performance, including her explosive batting and lethal leg-spin bowling, was pivotal in New Zealand’s maiden victory in the ICC Women’s T20 World Cup 2024.

Key Achievements and Highlights

1. Rachael Heyhoe Flint Trophy 2024

• Kerr became the first New Zealander to win the Rachael Heyhoe Flint Trophy and the ICC Women’s Cricketer of the Year Award.

2. Performance in ICC Women’s T20 World Cup 2024

• Player of the Tournament and Player of the Match in the final.
• Set a record with 15 wickets, the highest in a single Women’s T20 World Cup.
• Instrumental in New Zealand’s maiden title victory:
  • Scored 43 runs off 38 balls in the final.
  • Took 3 wickets for 24 runs, including two key wickets in one over that shifted the momentum.

3. Melie Kerr’s Year in Numbers

• In ODIs:
  • Scored 264 runs (average: 33).
  • Took 14 wickets.
• In T20Is:
  • Scored 387 runs (average: 24.18).
  • Took 29 wickets, setting a national record for most wickets in a single calendar year.

4. Other Achievements

• Played a stabilizing role in New Zealand’s batting lineup.
• Dismissed top-order batters like Laura Wolvaardt and Anneke Bosch in the World Cup final.

About ICC

• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909

Jannik Sinner Clinches Third Grand Slam Title at Australian Open 2025

• Jannik Sinner has successfully defended his Australian Open title, defeating Alexander Zverev 6-3, 7-6(4), 6-3 in the men's singles final.
• With this victory, Sinner not only retained his crown but also made history by becoming the first Italian player to win three Grand Slam titles, surpassing the legendary Nicola Pietrangeli, who had secured back-to-back wins at the French Open in 1959-60.

Key Highlights:

• Victory: Jannik Sinner defeated Alexander Zverev in straight sets, securing his third Grand Slam title and his second Australian Open win in as many years.
• Historic Achievement: By clinching his third major title, Sinner became the first Italian to accomplish this feat, moving ahead of Nicola Pietrangeli in the Grand Slam tally.
• Match Overview: Sinner dominated the match with his clinical execution and suffocating pressure on Zverev. The German's efforts were thwarted by a combination of unlucky breaks and Sinner's sharp play.
• Decisive Moments:
  • Sinner broke Zverev’s serve in the sixth game of the first set.
  • A lucky net cord in the second-set tiebreaker worked in Sinner’s favor, helping him win the second set.
  • The final set saw Zverev falter, with a missed forehand sealing the match for Sinner.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Soumitra Chatterjee: The Legacy of Apu and Beyond

• Soumitra Chatterjee, the legendary Bengali actor, poet, artist, and theatre personality, has left an indelible mark on Indian cinema, especially through his memorable collaborations with Satyajit Ray in timeless classics like Apur Sansar and Sonar Kella.
• It was published by Penguin India Vintage books
• His influence extends beyond the silver screen, as he was also a poet, artist, and theatre personality deeply woven into Bengal’s cultural fabric.
• The newly released biography, Soumitra Chatterjee and His World by Sanghamitra Chakraborty aims to explore the multifaceted aspects of his life and career, revealing new dimensions of the icon’s personality.

Key Aspects of Soumitra Chatterjee’s Life

1. Early Life and Influences

• Born: Soumitra Chatterjee’s childhood was deeply impacted by the Bengal famine of 1943 and the communal riots surrounding India’s independence.
• These formative experiences shaped his lifelong commitment to communal harmony and social justice.

2. Mentors

• Chatterjee was deeply influenced by three key figures in his life:
  • Rabindranath Tagore, whom he admired profoundly for his literary and cultural contributions.
  • Shishir Bhaduri, a legendary figure in Bengali theatre.
  • Satyajit Ray, with whom he worked on 14 films, cementing their iconic collaboration.

3. Cinema and Theatre

• Chatterjee’s collaboration with Satyajit Ray is legendary, with standout performances in:
  • The World of Apu (Apur Sansar)
  • The Golden Fortress (Sonar Kella)
  • The Elephant God
  • The Goddess
  • The Lonely Wife
  • The Home and the World
• Beyond films, he contributed significantly to Bengali theatre, poetry, and even editing, showcasing his artistic versatility.

CURRENT AFFAIRS: OBITUARY

Latika Katt: Prominent Indian Sculptor Passes Away At 76

• Renowned sculptor Latika Katt passed away on January 25 in Jaipur at the age of 76.
• Known for her exceptional skills in stone carving, metal casting, and bronze sculpting, Katt's work was deeply inspired by human anatomy and nature.
• She had earned recognition for her detailed and emotional sculptures, with her works showcased at prestigious venues such as the Paris Biennale, Museum of Modern Art, and National Gallery of Modern Art in Delhi.

About Latika Katt:

• Born on February 20, 1948, Katt graduated from the Doon School in Dehradun and later attended Baroda College of Art and the Maharaja Sayajirao University of Baroda.
• She earned a research scholarship from the Slade School of Art, London.
• Her father's influence, a botanist, played a significant role in shaping her love for nature.
• Inspired by Auguste Rodin, she adopted the naturalism technique in her sculptures.
• In the 1970s, she gained attention for using cow dung as a medium due to financial constraints.
• This caught the eye of then-Prime Minister Indira Gandhi, who encouraged her to pursue professional sculpting.
• Katt also served as the Head of the Department of Fine Arts at Jamia Millia Islamia and taught at Banaras Hindu University.
• Some of her most notable works include a 20-foot bronze sculpture of Jawaharlal Nehru, depicting him releasing pigeons into the sky, and her artwork ‘Makarsankranti Nahan at Dashaswamedh Ghat’, which won the Beijing Art Biennale Award in 2010.
• Throughout her career, she exhibited her work in national and international exhibitions, earning numerous accolades.

Daily CA One-Liner: January 29

• The Ministry of Tourism, Government of India, participated in FITUR 2025, one of the leading travel fairs held in Madrid, Spain, from January 22-26, 2025.
• THDC India Limited (THDCIL), a Mini-Ratna Public Sector Enterprise, has marked a significant achievement in India's power sector with the Commercial Operation Date (COD) of Unit #1 of the 1320 MW Khurja Super Thermal Power Plant (KSTPP), announced on January 25, 2025
• India’s automobile exports have experienced a 19% YoY growth in 2024, with total exports reaching 50,98,810 units, up from 42,85,809 units in 2023, according to data from the Society of Indian Automobile Manufacturers (SIAM).
• Shri Hariman Sharma, a pioneering farmer from Himachal Pradesh, has been awarded the prestigious Padma Shri (2025) for his revolutionary contributions to Indian agriculture.
• Doordarshan, India’s national broadcaster, has been recognized with an award in the Electronic Media category for its exemplary Voter Awareness and Education Campaign during the Lok Sabha Elections 2024.
• Melie Kerr, the dynamic all-rounder from New Zealand, emerged as the standout performer in women’s cricket, securing the Rachael Heyhoe Flint Trophy (ICC Women’s Player of the Year 2024).
• Jannik Sinner has successfully defended his Australian Open title, defeating Alexander Zverev 6-3, 7-6(4), 6-3 in the men's singles final.
• Soumitra Chatterjee, the legendary Bengali actor, poet, artist, and theatre personality, has left an indelible mark on Indian cinema, especially through his memorable collaborations with Satyajit Ray in timeless classics like Apur Sansar and Sonar Kella.
• On January 26, 2025, during the 76th Republic Day celebrations, the Securities and Exchange Board of India (SEBI) unveiled Dharohar - Milestones in the Indian Securities Market, a comprehensive digital knowledge repository.
• The Reserve Bank of India (RBI) announced measures to provide relief to India's banking system by injecting liquidity. This includes purchasing government securities (G-Secs) worth ₹60,000 crore through open market operations (OMOs) in three tranches of ₹20,000 crore
• Ratnakar Bank Limited (RBL Bank), a private sector bank, and Piramal Capital and Housing Finance (Piramal Finance), a subsidiary of Piramal Enterprises Limited, have announced a strategic co-lending partnership.
• In the face of intense competition for deposits, many big banks such as State Bank of India (SI), IDBI Bank, Punjab National Bank, Bank of Baroda have introduced new schemes and enhanced fixed deposit (FD) products, offering higher returns, greater flexibility, and tailored options for specific customer segments in January 2025.
• Slice, a prominent fintech company, will be rebranded as Slice Small Finance Bank Limited (Slice SFB) following its merger with North East Small Finance Bank (NESFB).
• The United Payments Interface (UPI) has become the dominant platform in India’s digital payments ecosystem, capturing 83% of the total payment volume by the end of 2024, a significant rise from 34% in 2019, according to the Reserve Bank of India (RBI) Payments System Report.
• The Reserve Bank of India (RBI) has superseded the board of Aviom India Housing Finance Pvt Ltd due to the company's inability to meet payment obligations and concerns about governance practices.
• The Reserve Bank of India (RBI) has increased its scrutiny of peer-to-peer (P2P) lending platforms, sending an 18-point questionnaire to 8 prominent financial technology companies in the P2P space, including LiquiLoans, Monexo, i2iFunding, and IndiaP2P.
• RMBS Development Company Limited (RDCL) received the Certificate of Registration (CoR) from the Reserve Bank of India (RBI) on January 23, 2025, enabling it to commence operations.
• The total investment announcements stood at ₹32.01 lakh crore in the nine months this fiscal (FY25), marking a 39% increase from ₹23 lakh crore in the same period last fiscal, reflecting a positive investment outlook, the government stated on January 26, 2025, citing a recent report by the State Bank of India (SBI).
• Haryana Chief Minister Nayab Singh Saini inaugurated 324 crèches across the state, aimed at assisting working women and providing a safe environment for their children.
• The Rythu Bharosa scheme is one of the four welfare programmes launched on Republic Day, January 26, alongside the Indiramma Housing Scheme, Indiramma Atmeeya Bharosa Scheme, and the issuance of new ration cards.
• Assam Chief Minister Himanta Biswa Sarma announced that Dibrugarh, located 478 km east of Guwahati, will be developed into the state's second capital within the next three years.
• Uttarakhand becomes the first state in India to implement the Uniform Civil Code (UCC), aiming to standardise personal laws across all religions, ensuring equality and constitutional rights for all citizens, especially women.
• Alexander Lukashenko has been reelected president of Belarus, securing a 7th five-year term.
• Sridhar Vembu, co-founder and Chief Executive Officer of Zoho Corp, will step down from his role as CEO and take on a new position as Chief Scientist.
• Renowned sculptor Latika Katt passed away on January 25 in Jaipur at the age of 76.