National News

President Droupadi Murmu Launches Comprehensive AI Skilling Initiatives Under SOAR Programme in New Delhi

• On January 1, 2026, President Droupadi Murmu inaugurated multiple initiatives under the Skilling for AI Readiness (SOAR) programme at Rashtrapati Bhavan Cultural Centre in New Delhi, marking a significant milestone in India’s digital transformation agenda under the Skill India Mission led by the Ministry of Skill Development and Entrepreneurship.
• The President launched the nationwide ‘#SkillTheNation Challenge’ aimed at creating a future-ready and inclusive workforce by strengthening AI literacy among students, professionals, entrepreneurs, and learners from urban, semi-urban, and rural regions across India, while encouraging innovation and practical application of AI solutions in real-world scenarios.
• President Murmu conferred AI certificates to students and Members of Parliament who successfully completed various AI learning modules under SOAR, and virtually inaugurated the Indira Gandhi National Open University centre at Rairangpur in Odisha to expand higher education and skill development opportunities in tribal-dominated areas of northern Odisha.
• The initiative delivers comprehensive online and offline training through collaboration with IGNOU and Skill Centres, offering multi-level courses from beginner to advanced learners, with the IGNOU Regional & Skill Centre specifically designed to improve access to distance education, vocational training, and skill-oriented programmes for youth from rural and underserved communities.

National News

Pradhan Mantri Matru Vandana Yojana Marks Nine Years of Supporting Maternal Health and Nutrition

• On January 1, 2026, the Pradhan Mantri Matru Vandana Yojana (PMMVY) completed nine years of implementation since its launch on January 1, 2017, representing a major achievement in India’s efforts to provide comprehensive support to pregnant women and lactating mothers through financial assistance and nutritional support under the Ministry of Women and Child Development.
• The scheme operates as a Centrally Sponsored Scheme implemented according to Section 4 provisions of the National Food Security Act (NFSA) 2013, with a funding pattern of 60:40 between Central and State Governments for most states, 90:10 for North East and Special Category States, and 100% Central funding for Union Territories without legislature.
• PMMVY provides financial benefits for the first two living children, offering Rs 5,000 in two installments for the first child and Rs 6,000 in one installment for the second child provided it is a girl, alongside free meals through local Anganwadi centers during pregnancy and six months post-childbirth to meet nutritional standards and prevent malnutrition.
• The scheme was integrated under the Samarthya component of Mission Shakti launched in 2022, which combines various women’s empowerment schemes focusing on economic empowerment and financial inclusion, while addressing maternal wellbeing by ensuring safe delivery, reduced malnutrition, and compensation for wage loss during pregnancy and lactation periods.

National News

Ministry of Statistics Unveils New Logo and Mascot ‘Sankhyiki’ to Enhance Public Engagement with Official Statistics

• On January 1, 2026, the Ministry of Statistics and Programme Implementation (MoSPI) revealed its modernized institutional identity featuring a new logo and mascot ‘Sankhyiki’ (सांख्यिकी) in New Delhi, designed to strengthen public outreach, enhance accessibility of statistical information, and underscore the critical role of official statistics in national development under the theme “Data for Development.”
• The new logo incorporates powerful symbolism with the Ashoka Chakra representing truth and good governance, a central Rupee symbol (₹) highlighting statistics’ importance in economic planning, numerical elements (९), mathematical symbols (=,S,Σ), and an upward growth bar (↗) representing modern data systems and progress driven by reliable data-based insights, all rendered in colors of saffron, white, green, and deep blue signifying growth, truth, sustainability, stability, and knowledge.
• The citizen-centric mascot ‘Sankhyiki’ serves as a friendly character designed to simplify complex statistical concepts and make data more relatable, engaging, and accessible to the general public, promoting transparency, building trust in official statistics, and supporting data-driven governance across all government initiatives.
• Sankhyiki will feature prominently in National Sample Surveys, awareness campaigns, educational content, digital platforms, and public events, encouraging public participation in statistical processes while MoSPI continues its dual mandate through the National Statistical Office coordinating statistical activities and formulating standards, and the Programme Implementation Wing monitoring infrastructure projects and MPLADS under Minister of State (Independent Charge) Rao Inderjit Singh.

National News

Union Cabinet Approves Major Infrastructure Projects Worth Over Rs 20,000 Crores in Maharashtra and Odisha

• On December 31, 2025, the Union Cabinet chaired by Prime Minister Narendra Modi approved the widening and strengthening of National Highway-326 from 68.600 km to 311.700 km in Odisha with a total budget outlay of Rs 1,526.21 crores including civil construction cost of Rs 966.79 crores, to be implemented in Engineering, Procurement and Construction (EPC) mode using modern construction and Quality-Control technologies with completion targeted in 24 months followed by a 5-year defect liability and maintenance period.
• The Cabinet Committee on Economic Affairs approved the construction of a 6-lane greenfield access-controlled Nashik-Solapur-Akkalkot Corridor in Maharashtra on Build-Operate-Transfer (BOT) Toll mode, covering approximately 374 km with a massive investment of Rs 19,142 crores, representing one of the largest highway infrastructure investments in recent times.
• The Maharashtra corridor project will significantly improve connectivity between Nashik, Ahilyanagar, and Solapur in Maharashtra with Kurnool in Andhra Pradesh, strengthening critical west-east transport connectivity and facilitating faster movement of goods and passengers across multiple states in the region.
• Both infrastructure projects align strategically with the Pradhan Mantri GatiShakti – National Master Plan (PMGS-NMP), the Government of India’s comprehensive initiative for integrated infrastructure development, and are expected to generate substantial employment opportunities during construction phases while boosting economic activity and trade efficiency in the regions they serve.

Banking and Finance News

Ministry of Finance Maintains Status Quo on Small Savings Schemes Interest Rates for Eighth Consecutive Quarter

• In December 2025, the Department of Economic Affairs (Budget Division) under the Ministry of Finance decided to keep interest rates unchanged across all Small Savings Schemes including Public Provident Fund, Sukanya Samriddhi Yojana, and other instruments for the fourth quarter of financial year 2025-26 (January 1, 2026 to March 31, 2026), maintaining rates notified for Q3FY26.
• This decision marks the eighth consecutive quarter with no revision in Small Savings Schemes interest rates, with the last modification made by the Department of Economic Affairs in Q4FY24, reflecting stability in the government’s approach to small savings instruments despite fluctuations in broader financial markets and bond yields.
• Small Savings Schemes are Government of India-backed savings instruments specifically designed to promote household savings and offer risk-free investment options with sovereign guarantees, administered by the Department of Economic Affairs through designated banks and over 1.5 lakh post offices across the country providing extensive accessibility to citizens.
• Since 2016, the interest rates for Small Savings Schemes have been reviewed and notified on a quarterly basis by the Department of Economic Affairs, with rate adjustments determined by prevailing bond yields and market trends, ensuring that returns remain competitive while balancing fiscal considerations and the government’s borrowing requirements through these schemes.

National News

ESIC Extends SPREE 2025 Registration Deadline to Expand Social Security Coverage Without Past Liabilities

• On December 31, 2025, the Employees’ State Insurance Corporation under the Ministry of Labour and Employment announced a one-month extension of the Scheme for Promotion of Registration of Employers and Employees (SPREE) 2025, allowing voluntary registration without past liabilities, penalties, inspections, or legal action until January 31, 2026, from the original deadline of December 31, 2025.
• SPREE 2025, implemented under the Employees’ State Insurance Act, 1948, aims to expand social security coverage by encouraging hassle-free voluntary registration of unregistered establishments and employees, covering factories and establishments with 10 or more employees in ESI-implemented areas including shops, hotels, transport services, medical and educational institutions, and municipal bodies.
• The scheme provides eligibility for workers earning up to Rs 21,000 per month (Rs 25,000 for persons with disabilities) and allows employers to register digitally through ESIC, Shram Suvidha, or Ministry of Corporate Affairs portals, with social security coverage effective from the declared registration date without burden of past dues or retrospective compliance.
• The extension offers establishments a final opportunity to come under the formal social security umbrella, gaining access to comprehensive benefits for employees while supporting the government’s objectives of ease of compliance, expanded ESIC coverage, and bringing more workers under organized sector protections including medical care, sickness benefits, maternity benefits, and disability pensions.

National News

India Post and SIDBI Partner for Verification of Informal Micro Enterprises on Udyam Assist Platform

• In December 2025, the Department of Posts (India Post) under the Ministry of Communications and the Small Industries Development Bank of India under the Ministry of Finance signed a comprehensive Memorandum of Understanding in New Delhi to conduct Contact Point Verification of Informal Micro Enterprises registered on the Udyam Assist Platform, aimed at enhancing data integrity, enterprise formalization, and enabling access to institutional credit.
• The MoU was signed by Manisha Bansal Badal, General Manager (Citizen Centric Services & Rural Business) of Department of Posts and Amit Nagar, Deputy General Manager of SIDBI, establishing a collaborative framework valid from December 31, 2025 to December 30, 2027 with provisions for extension by mutual agreement and strict adherence to data confidentiality, information security, and GST compliance requirements.
• The initiative leverages India Post’s extensive network of 1.64 lakh post offices and trained postal staff across the country to conduct thorough on-ground, geo-tagged verification of enterprise demographics, business details, and physical locations, utilizing SIDBI’s specialized Contact Point Verification mobile application for real-time, accurate data capture and validation.
• This verification mechanism will provide system access, comprehensive guidelines, and standardized training to postal personnel ensuring accurate and uniform execution nationwide, ultimately helping informal micro enterprises transition to formal status, build credibility, establish verifiable business records, and gain improved access to institutional credit facilities and government schemes designed to support small business growth and sustainability.

Science and Technology News

Union Minister Launches Revolutionary ‘Land Stack’ Digital Portal in Chandigarh and Tamil Nadu

• In December 2025, Union Minister of State Dr. Chandra Sekhar Pemmasani from the Ministry of Rural Development launched the groundbreaking ‘Land Stack’ portal in pilot locations of Union Territory of Chandigarh and Tamil Nadu during a hybrid event in New Delhi, marking India’s first comprehensive national digital land governance initiative under the Digital India Land Record Modernisation Programme.
• The Land Stack portal integrates property and parcel-level land information on a Geographic Information System-based digital platform, enabling users to access comprehensive property details, ownership information, deed records, encumbrance details, and litigation status for individual land parcels through a single unified interface, facilitating informed decision-making for citizens, developers, and government agencies.
• In Chandigarh, the portal provides coverage including areas traditionally classified as villages, offering access to hadbast, khewat, mustil, and khasra numbers, while providing unprecedented transparency and ease of access to land-related information that was previously scattered across multiple departments and record systems.
• Minister Pemmasani also released the ‘Glossary of Revenue Terms’ prepared by the Department of Land Resources in collaboration with the Centre of Excellence in Land Administration and Management at YASHADA Pune, providing standardized meanings of various land-related revenue terms in Vernacular, Hindi, English, and Roman scripts to enhance understanding and eliminate confusion in land transactions and documentation.
• The Digital India Land Record Modernisation Programme, a Central Sector Scheme revamped in 2016 from the National Land Records Modernization Programme with 100% Central Government funding, aims to modernize and digitize land records nationwide, featuring the Unique Land Parcel Identification Number (ULPIN) or “Bhu-Aadhaar” that assigns a 14-digit alphanumeric code to each land parcel using geographical coordinates for permanent unique identification.

Banking and Finance News

Government Notifies Revised Tax Structure for Tobacco and Pan Masala Replacing GST Compensation Cess

• On December 31, 2025, the Ministry of Finance notified a comprehensive revised tax framework for ‘sin goods’ including tobacco and pan masala products, introducing an additional excise duty and health cess to replace the GST Compensation Cess, effective from February 1, 2026, aimed at improving tax compliance, plugging revenue leakages, and boosting overall tax collection.
• Under the new structure, pan masala, cigarettes, and other tobacco products continue to attract 40% GST while biris remain taxed at 18%, with additional levies introduced specifically for tobacco products including extra excise duty and a Health and National Security Cess on pan masala, both imposed over and above existing GST rates.
• The additional excise duty rates are differentiated by product category, set at 91% for gutkha, 82% for chewing tobacco and jarda scented tobacco, 33% for hookah, and ranging from Rs 2,050 to Rs 8,500 per 1,000 sticks for cigarettes based on length and filter specifications, creating a comprehensive multi-tiered taxation structure.
• New valuation rules introduce Maximum Retail Price-based valuation and machine-capacity-linked levy applicable to smokeless tobacco and gutkha under the 2026 packing machine rules, designed to prevent tax evasion through undervaluation and ensure more accurate tax assessment based on actual production capacity and market prices.
• The move represents the government’s effort to rationalize GST rates on sin goods while balancing multiple objectives including public health goals through higher taxation discouraging consumption, revenue maximization for government coffers, and simplified compliance mechanisms that reduce scope for tax avoidance and improve overall tax administration efficiency.

National News

Union Minister Launches Integrated e-Bill System to Digitalize Rs 2 Lakh Crore Fertilizer Subsidy Processing

• On January 1, 2026, Union Minister Jagat Prakash Nadda of the Ministry of Chemicals and Fertilizers launched the Integrated electronic Bill system at Kartavya Bhawan in New Delhi to digitally process fertilizer subsidies worth approximately Rs 2 lakh crore annually, replacing the cumbersome manual, paper-based processes with a fully digital workflow that eliminates physical bill movement.
• The system was developed through collaboration between the Integrated Financial Management System of the Department of Fertilizers under the Ministry of Chemicals and Fertilizers and the Public Financial Management System of the Controller General of Accounts under the Ministry of Finance, ensuring seamless integration with existing government financial management infrastructure.
• Key features include comprehensive end-to-end digital workflow covering all stages of subsidy claim submission, verification, approval, and disbursement; enhanced transparency and accountability with complete audit trails; improved efficiency and accuracy reducing processing time and human errors; real-time oversight enabling governance monitoring; and superior user convenience for all stakeholders.
• The digitalization of fertilizer subsidy processing represents a major administrative reform that will significantly accelerate subsidy disbursement to manufacturers and dealers, reduce delays that often caused working capital challenges for the fertilizer industry, improve budget utilization tracking, minimize possibilities of fraudulent claims, and ultimately ensure farmers receive fertilizers at subsidized rates without supply disruptions caused by payment delays.

International News

Bulgaria Becomes 21st Eurozone Member Adopting Euro Currency from January 1, 2026

• Bulgaria officially adopted the Euro as its currency effective January 1, 2026, replacing the Bulgarian lev after more than two decades of preparation, following approval by the Council of the European Union on July 8, 2025, which confirmed that Bulgaria met all Maastricht convergence criteria and established the irrevocable conversion rate at 1 EUR = 1.95583 BGN.
• With Euro adoption, Bulgaria became the 21st member of the Eurozone, the group of European countries using the euro as official currency, marking a historic milestone in Bulgaria’s deeper economic integration with the European Union and joining the single currency bloc after years of economic reforms and fiscal discipline to meet strict entry requirements.
• During January 2026, both the Bulgarian lev and Euro will be accepted for payments throughout Bulgaria with change provided only in euros, establishing a transitional dual-currency period, while from February 1, 2026, the euro will become the sole legal tender and the Bulgarian lev will be completely withdrawn from daily circulation, finalizing the currency transition.
• The Bulgarian National Bank has joined the Eurosystem, becoming an integral part of the European Central Bank framework, meaning Bulgarian banks now fall under the Single Supervisory Mechanism, significantly strengthening financial stability, banking oversight, regulatory standards, and providing Bulgarian financial institutions with enhanced credibility and access to Eurozone financial infrastructure and liquidity facilities.

Banking and Finance News

RBI Relaxes Risk Weight Norms for NBFCs in Infrastructure Financing to Boost Investment

• In January 2026, the Reserve Bank of India released final guidelines significantly relaxing risk-weight norms for Non-Banking Financial Companies engaged in infrastructure financing, effective from April 1, 2026, following extensive industry consultations and feedback, aimed at facilitating increased investment in India’s critical infrastructure sector.
• Under the revised framework addressing industry concerns about proposed stricter norms, NBFC exposures will become eligible for 75% risk weight once just 2% of originally sanctioned project debt has been repaid, substantially lower than the 5% repayment threshold proposed in draft norms, while 50% risk weight will apply after 5% debt repayment compared with the earlier proposed 10% threshold.
• Risk weights determine capital buffer requirements for financial institutions, with higher risk weights necessitating larger capital reserves and potentially limiting lending capacity, making this relaxation significant as it frees up capital for NBFCs to extend more infrastructure loans without proportionate increase in capital requirements.
• NBFCs receive a grace period until March 31, 2027, allowing them to continue maintaining existing risk weights for exposures that would attract higher risk weights under new directions until the next review/renewal or March 31, 2027, whichever is earlier, providing adequate transition time for portfolio adjustments and capital planning.
• The Amendment Directions will be applicable from April 1, 2026, or from an earlier date if adopted by an NBFC in entirety, with the RBI’s definition of high-quality infrastructure expanded to include more projects qualifying for preferential risk treatment, reflecting the central bank’s commitment to supporting infrastructure development while maintaining prudential standards and financial system stability.

Banking and Finance News

India’s First Maritime NBFC Commences Operations Sanctioning Rs 4,300 Crore in Inaugural Loans

• In December 2025, Sagarmala Finance Corporation Limited, India’s first Non-Banking Financial Company exclusively focused on maritime financing, commenced lending operations and sanctioned loans totaling approximately Rs 4,300 crore during its 51st Board Meeting, formally entering the maritime lending space according to the strategy approved by its Board.
• The loan allocations include Rs 4,000 crore for a Greenfield Port Project reaffirming the Government of India’s commitment to port-led development, Rs 150 crore to Dredging Corporation of India to support indigenous dredging capacity expansion, and Rs 110 crore to Goa Shipyard Limited aimed at strengthening indigenous shipbuilding capabilities.
• At its Annual General Meeting, SMFCL’s board approved an ambitious Rs 25,000 crore borrowing limit and set an Rs 8,000 crore lending target for Financial Year 2025-26, establishing a clear strategic roadmap for rapid scale-up of maritime infrastructure financing across India’s coastal and port development projects.
• Launched in June 2025, SMFCL has been designated as the nodal agency for administering the Rs 25,000 crore Maritime Development Fund, positioning it as the central financing vehicle for India’s ambitious maritime infrastructure expansion plans including port modernization, shipbuilding, ship repair facilities, dredging projects, coastal connectivity, and related maritime ecosystem development.

Banking and Finance News

Ashika Group Secures SEBI Approval to Enter Mutual Fund Industry

• Ashika Group received in-principle approval from the Securities and Exchange Board of India on December 31, 2025, to act as sponsor and establish Ashika Mutual Fund, enabling the financial services platform to form an Asset Management Company and prepare scheme launches subject to securing final registration from the securities market regulator.
• Ashika Group, established in 1994, operates as a comprehensive financial services platform offering Retail & Institutional Broking, Investment Banking & Advisory services, Alternative Investment Funds, Research & Advisory, Global Family Office Services, Non-Banking Financial Company operations, and distribution services across the financial services spectrum.
• The in-principle approval marks the initial regulatory clearance in the multi-stage process of establishing a mutual fund company in India, with Ashika Group now required to fulfill additional regulatory requirements including establishing the AMC infrastructure, appointing key personnel, developing fund schemes, and obtaining final registration before launching mutual fund products to investors.
• SEBI, established in 1988 and granted statutory powers in 1992 under the SEBI Act 1992, serves as India’s securities market regulator protecting investor interests, regulating stock markets, mutual funds and intermediaries, and ensuring fair and transparent trading practices, with its approval process for new mutual fund sponsors involving rigorous evaluation of financial strength, track record, governance standards, and operational capabilities.

Appointments and Resignations News

Canara Bank Appoints Hardeep Singh Ahluwalia as Interim MD & CEO

• In December 2025, Canara Bank, one of India’s leading Public Sector Banks, appointed Hardeep Singh Ahluwalia as its interim Managing Director and Chief Executive Officer effective from January 1, 2026, succeeding K. Satyanarayana Raju whose tenure ended on December 31, 2025.
• Ahluwalia will serve as MD and CEO of Canara Bank for a period of three months until March 31, 2026, or until the appointment of a regular incumbent, whichever is earlier, providing continuity in leadership during the transition period while the government and bank board conduct the selection process for a permanent Managing Director.
• Hardeep Singh Ahluwalia brings 30 years of extensive banking experience across India and international markets including Hong Kong Special Administrative Region of China, having started his banking career by joining Allahabad Bank (now merged with Indian Bank) as an Agricultural Field Officer in March 1992 and progressively rising through various positions.
• Prior to his appointment as interim MD & CEO, Ahluwalia served as Executive Director at Canara Bank, giving him intimate familiarity with the bank’s operations, strategy, culture, and challenges, positioning him well to provide stable leadership during the interim period while maintaining strategic continuity and operational momentum across the bank’s extensive domestic and international operations.

Sports News

Seven-Time Olympic Medallist Andre De Grasse Named Ambassador for Tata Mumbai Marathon 2025

• In December 2025, Canadian sprint legend Andre De Grasse, holder of seven Olympic medals, was named the international event ambassador for the 21st edition of the Tata Mumbai Marathon scheduled for January 18, 2026, in Mumbai, Maharashtra, continuing the international ambassador programme designed by Procam International since TMM’s inception in 2004.
• Andre De Grasse ranks among the elite of world athletics having won seven medals at Olympic Games including two gold medals—one in the men’s 200 meter category at the 2020 Tokyo Games and another in the 4×100 meter relay at the 2024 Paris Games—along with two silver medals and three bronze medals across multiple Olympics.
• Beyond Olympic success, De Grasse has dominated World Championships securing six medals including one gold, two silver, and three bronze across five editions, notably winning gold at the 2022 World Athletics Championships held in Eugene, Oregon, demonstrating sustained excellence at the highest levels of international track and field competition.
• The Tata Mumbai Marathon has achieved World Athletics Global Label Race status, representing India’s most prestigious running event and Asia’s largest mass participation sporting event, with De Grasse’s appointment as ambassador expected to bring significant international attention, inspire Indian athletes and recreational runners, and further elevate the event’s global profile in the international athletics calendar.

Defence News

DRDO Successfully Tests Indigenous Pralay Missiles in Salvo Launch Configuration

• In December 2025, the Defence Research and Development Organisation successfully conducted a salvo launch involving simultaneous firing of two indigenously developed Pralay missiles in quick succession from the same launcher at the Integrated Test Range, Chandipur, off the coast of Odisha, as part of comprehensive user evaluation trials for operational deployment.
• Both missiles closely followed their intended trajectories and achieved all mission objectives during the test, with performance confirmed by tracking sensors deployed by ITR Chandigarh while terminal events were validated through onboard telemetry systems installed on ships positioned near designated impact points, demonstrating the weapon system’s reliability and precision.
• The Pralay missile represents an evolution of the earlier Prahaar missile first tested in 2011, sanctioned in 2015 as a short-range, solid propellant quasi-ballistic Surface-to-Surface Missile with a strike range of approximately 150-500 kilometers and payload capacity of 500-1000 kilograms, equipped with advanced Inertial Navigation System enabling high accuracy in target engagement.
• The missile was developed by Research Centre Imarat, Hyderabad, in partnership with multiple DRDO laboratories including Advanced Systems Laboratory, Armament Research and Development Establishment, High Energy Materials Research Laboratory, Terminal Ballistics Research Laboratory, R&D Establishment (Engineers), and Defence Metallurgical Research Laboratory, with development-cum-production support from Bharat Dynamics Limited, Bharat Electronics Limited, and other industry partners.
• The trials were observed by senior DRDO scientists, officials from the Indian Army and Indian Air Force, along with industry representatives, indicating the advanced stage of the weapon system’s development and imminent induction into India’s armed forces, significantly enhancing India’s precision strike capabilities with conventional warheads for tactical battlefield scenarios and strategic deterrence against potential adversaries.