National News

Government of India Establishes NSHIP Special Purpose Vehicle for Mega Shipbuilding Cluster in Tamil Nadu

• On January 29, 2026, the Government of India, in collaboration with the Government of Tamil Nadu, established the National Shipbuilding & Heavy Industries Park (NSHIP) as a Special Purpose Vehicle in Thoothukudi, Tamil Nadu, marking the first SPV formed under the Shipbuilding Development Scheme to develop India’s first mega shipbuilding cluster in the region.
• The SPV operates as a 50-50 joint venture between V.O. Chidambaranar Port Authority and the State Industries Promotion Corporation of Tamil Nadu (SIPCOT), following a Memorandum of Understanding signed in September 2025 in the presence of Union Minister Sarbananda Sonowal from the Ministry of Ports, Shipping and Waterways.
• The greenfield shipbuilding cluster will span approximately 2,000 acres with a 2-kilometer waterfront, including 1,000 acres dedicated to shipyards and another 1,000 acres for ancillary and social infrastructure, with an anchor shipyard targeted to reach 0.5 million gross tonnes production capacity within 10 years.
• This initiative is part of India’s Shipbuilding Development Scheme launched under the Rs. 69,725 crore maritime package in October 2025, which allocates Rs. 19,989 crore specifically to boost domestic shipbuilding capacity to 4.5 million Gross Tonnage annually by 2047 through infrastructure and technology upgrades.
• The scheme provides comprehensive support including financial assistance for constructing commercial ships, special purpose vessels, and green future-ready ships, while also supporting the development of mega shipbuilding clusters with common infrastructure such as dry docks, wet berths, design and testing facilities, and ancillary industries through SPV-based implementation.

National News

India Designates Coking Coal as Critical and Strategic Mineral to Strengthen Domestic Steel Industry

• In January 2026, the Government of India officially notified ‘Coking Coal’ as a critical and strategic mineral under the Mines and Minerals (Development and Regulation) Act, 1957, in a strategic move aimed at reducing the country’s heavy dependence on imports and strengthening the domestic steel supply chain.
• Despite India possessing estimated resources of 37.37 billion tonnes of coking coal, primarily located in Jharkhand with additional reserves in Madhya Pradesh, West Bengal, and Chhattisgarh, the nation currently meets nearly 95% of its coking coal requirements for the steel sector through imports, resulting in substantial foreign exchange outgo.
• Import dependency has shown an alarming increase from 51.20 million tonnes in 2020-21 to 57.8 million tonnes in 2024-25, highlighting the critical need for this classification to prioritize domestic production and reduce reliance on international markets for this carbon-rich coal essential for blast furnace steel production.
• The classification was implemented by amending the First Schedule of the MMDR Act, 1957, with Part A now reading the term ‘Coal’ as ‘Coal, including Coking Coal’ and ‘Coking Coal’ being included in Part D, which specifically lists critical and strategic minerals requiring special attention and development.
• The notification clarifies that in accordance with Section 11D(3) of the MMDR Act, royalty, auction premium, and other statutory payments related to mining leases will continue to accrue to the respective state governments, even when mineral auctions are conducted by the Central Government, ensuring states maintain their revenue streams.

National News

Ministry of Statistics Launches PAIMANA Portal for Advanced Infrastructure Project Monitoring

• The Ministry of Statistics & Programme Implementation operationalised PAIMANA (Project Assessment, Infrastructure Monitoring & Analytics for Nation-building) in January 2026 as a comprehensive web-based portal for monitoring Central Sector Infrastructure Projects worth Rs 150 crore and above, replacing the earlier Online Computerised Monitoring System that had been in use since 2006.
• The portal integrates seamlessly with the Department for Promotion of Industry and Internal Trade’s IPMP (Integrated Project Monitoring Portal) and IIG-PMG (Investment Information Gateway – Prime Minister’s Office Monitoring Group) through Application Programming Interfaces, automating approximately 60% of project updates under the “One Data, One Entry” principle to reduce duplication and enhance efficiency.
• PAIMANA was developed in consultation with over 20 Central Ministries and Departments, including the Department of Economic Affairs under the Ministry of Finance and DPIIT under the Ministry of Commerce and Industry, covering comprehensive aspects of project mapping, data migration, analytics, and validation to ensure robust monitoring mechanisms.
• The automation feature enables about 60% of project data to flow automatically from Central Ministries and Departments for ongoing infrastructure projects with revised costs of Rs 150 crore and above, significantly reducing manual data entry requirements while ensuring consistent and reliable data across the platform for better decision-making and project oversight.

National News

Assam Petro-Chemicals Partners with Deendayal Port for Rs 1,200 Crore E-Methanol Production Facility

• In January 2026, Assam Petro-Chemicals Limited signed a Memorandum of Understanding with Deendayal Port Authority to establish a 150 Tonnes Per Day e-Methanol plant at Kandla Port, Gujarat, with the agreement formalized in the presence of Assam Chief Minister Himanta Biswa Sarma and Union Minister Sarbananda Sonowal in Dibrugarh, Assam.
• The project involves a capital investment exceeding Rs 1,200 crore, with Deendayal Port Authority providing essential pipeline connectivity, storage, and fuel-handling infrastructure, while Assam Petro-Chemicals Limited will establish the 150 TPD e-Methanol production facility within the Kandla Port premises.
• E-Methanol (Electro-Methanol) will be produced using green hydrogen and captured carbon dioxide powered by renewable electricity, serving as a clean marine and industrial fuel for sectors where electrification is difficult, with deployment planned for vessels along the Singapore-Rotterdam corridor and positioning Kandla Port as a green fuel hub.
• The initiative aligns strategically with multiple national programs including India’s green shipping goals, Methanol Economy vision, National Green Hydrogen Mission, Aatmanirbhar Bharat, and Make in India, while supporting objectives to lower logistics costs, develop green bunkering infrastructure, and advance toward Net-Zero emissions by 2070.

Defence News

Indian Army Collaborates with Shield AI for Indigenous Manufacturing of V-BAT Autonomous Drones

• In January 2026, the Indian Army signed an agreement with United States-based defence technology firm Shield AI for the procurement of V-BAT vertical take-off and landing Unmanned Aircraft Systems, which will be manufactured in India as part of the country’s defence indigenization efforts.
• The agreement includes supply of V-BAT VTOL drones along with licenses for Shield AI’s Hivemind autonomy software to be integrated into the aircraft, enabling the armed forces to develop and test mission-specific autonomy applications tailored to operational requirements.
• The V-BAT is classified as a ‘Group-3’ VTOL UAS featuring a ducted-fan design that enables vertical take-off and landing without runways, powered by a heavy-fuel engine offering long-endurance surveillance exceeding 12 hours in difficult terrain and high-threat environments with a lower logistical footprint.
• JSW Defence Private Limited commenced construction of a manufacturing unit for V-BAT production in December 2025 at Electronic Manufacturing Clusters Maheshwaram near Hyderabad, Telangana, with an investment of USD 90 million, marking a significant step toward self-reliance in advanced unmanned aerial systems for India’s defence forces.

National News

Indian Railways Completes 13th Steel Bridge for Mumbai-Ahmedabad Bullet Train Project

• Indian Railways successfully completed a 100-metre-long steel bridge over the underground metro tunnel in Ahmedabad district, Gujarat, on the Kalupur-Shahpur stretch for the Mumbai-Ahmedabad bullet train project in January 2026, marking the 13th steel bridge completed in Gujarat out of 17 approved for the project in the state.
• The massive steel structure weighs 1,098 Metric tons, measures 14 metres in height and 15.5 metres in width, and is located parallel to the Ahmedabad-Sabarmati main line of Western Railways, with fabrication completed at a workshop in Wardha, Maharashtra.
• The bridge was assembled at a height of 16.5 metres from the ground on a temporary platform (trestles) measuring 11.5×100 metres at the site, demonstrating advanced engineering capabilities in executing complex infrastructure projects.
• Construction utilized nearly 45,186 Top-Shear Type High Strength bolts and features Corrosivity category C5 system protective painting for enhanced durability, equipped with elastomeric bearings that ensure long service life and passenger safety, representing India’s commitment to ‘Make in India’ infrastructure development.

Appointments and Resignations News

IRDAI Reconstitutes Reinsurance Advisory Committee Under Leadership of Former Insurance Executive

• The Insurance Regulatory and Development Authority of India, under the Ministry of Finance, reconstituted its Reinsurance Advisory Committee with immediate effect in January 2026, appointing A.V. Girija Kumar, former Chairman and Managing Director of Oriental Insurance Company Limited, as chairman for a three-year tenure.
• The reconstitution was undertaken under Section 101B of the Insurance Act, 1938, aimed at strengthening IRDAI’s advisory support on reinsurance-related matters by assembling senior experts from across the insurance and reinsurance ecosystem to provide specialized guidance.
• Aruna Bowrampet, Deputy General Manager (Reinsurance) at IRDAI, was appointed as Secretary to the Committee, which includes distinguished members such as Praveen Vashishta, former CEO & Managing Director of Howden Insurance Brokers India Private Limited, Roopam Asthana, Former CEO of Liberty General Insurance, and T.L. Alamelu, Former Whole-Time Member of IRDAI.
• The Insurance Regulatory and Development Authority of India, established in 1999 in Hyderabad following recommendations of the Malhotra Committee, serves as the statutory regulatory body overseeing India’s insurance sector, ensuring fair practices, financial stability, and consumer protection through licensing, supervision, and grievance redressal mechanisms.

Banking and Finance News

Slice Small Finance Bank Launches India’s First Repo-Linked Savings Account and UPI Credit Card

• On January 29, 2026, Slice Small Finance Bank introduced three innovative financial products including India’s first Digital Savings Account linked to 100% of the Reserve Bank of India’s Repo rate, a UPI-Integrated credit card, and digital Fixed Deposits, creating a comprehensive UPI-centric digital banking ecosystem.
• The Digital Savings Bank Account offers interest calculated and credited daily at 100% of the RBI Repo rate, providing transparent returns with no minimum balance requirements, instant liquidity, and full digital access from day one including Unified Payments Interface for everyday payments, setting a new benchmark for modern savings accounts.
• The UPI Credit Card enables customers to scan and pay at any UPI-enabled merchant using an approved credit limit instead of traditional card rails, offering up to 3% cashback based on usage, a “Slice in 3” feature for no-cost EMI conversion on purchases above Rs 2,000, weekly rewards through Slice Sparks, and zero joining, renewal, or annual fees.
• Digital Fixed Deposits can be opened and managed entirely through the app, offering interest rates up to 7.25% per annum with insurance coverage up to Rs 5 lakh by the Deposit Insurance and Credit Guarantee Corporation under the Ministry of Finance, providing customers with secure and competitive savings options.

Banking and Finance News

Paysharp Receives Dual Payment Aggregator Licenses from RBI for Comprehensive Payment Services

• In January 2026, fintech startup Paysharp secured the Payment Aggregator–Physical license from the Reserve Bank of India, enabling it to operate as a physical (offline) payment aggregator and significantly enhance its payment service offerings across multiple channels.
• This authorization comes after Paysharp received the Payment Aggregator-Online license in August 2024, making the company fully authorized to offer end-to-end payment acceptance services across both online and offline channels from a single regulated platform without relying on third-party aggregators.
• The dual licensing enables Paysharp to serve merchants comprehensively in stores, on-the-go, and online through an omnichannel approach, providing unified payment solutions that cater to diverse business needs across different transaction environments.
• Established in 2019 in Chennai, Tamil Nadu, Paysharp employs a flat-fee pricing model that enables merchants to pay a fixed charge per transaction, serving a diverse customer base including Government and Business-to-Business enterprises, Non-Banking Financial Companies, Small & Medium Businesses, and E-Commerce merchants across India.

Banking and Finance News

Punjab & Sind Bank Receives RBI Approval for GIFT City Branch to Expand International Banking

• On January 29, 2026, Punjab and Sind Bank, a Public Sector Bank in India, received approval from the Reserve Bank of India to open a branch at the International Financial Services Centre in Gujarat International Finance-Tec City in Gandhinagar, Gujarat, marking a significant expansion into international financial services.
• The GIFT City branch will operate under the IFSC framework specifically designed for cross-border financial services and international banking, enabling the bank to conduct offshore and cross-border transactions more efficiently and compete with global financial centers.
• Through this new branch, Punjab & Sind Bank aims to strengthen foreign currency lending capabilities, expand trade finance and treasury operations, and provide enhanced international banking services to corporate and institutional clients seeking sophisticated cross-border financial solutions.
• GIFT City represents India’s flagship international financial hub with IFSC status, providing financial institutions with regulatory frameworks and infrastructure to offer international banking products, conduct offshore transactions, and serve as a competitive alternative to established global financial centers.

Appointments and Resignations News

Kota Ravi Appointed Chairman and Managing Director of Hindustan Aeronautics Limited

• On January 29, 2026, Hindustan Aeronautics Limited, a premier Schedule A Central Public Sector Enterprise under the Ministry of Defence, appointed Kota Ravi as its new Chairman and Managing Director, succeeding Dr. D.K. Sunil who is scheduled to retire in April 2026.
• Kota Ravi brings over three decades of extensive experience in aviation, manufacturing, and aerospace programme management to the leadership position, having served in various critical roles throughout his distinguished career at HAL.
• He played an instrumental role in establishing infrastructure and processes to produce up to 16 Tejas aircraft per year and supported the successful delivery of the first twin-seater variant of India’s indigenous Light Combat Aircraft, demonstrating exceptional project management and execution capabilities.
• In his previous roles, Kota Ravi served as Executive Director (Corporate Planning) of HAL and Executive Director & General Manager of the Light Combat Aircraft Tejas Division, leading the division responsible for India’s indigenous fighter aircraft programme, and currently serves as Director (Operations) of HAL before assuming the top leadership position.

Important Days News

India Observes 78th Martyrs’ Day Commemorating Mahatma Gandhi’s Assassination

• Martyrs’ Day, also known as Sarvodaya Day or Shaheed Diwas, was observed across India on January 30, 2026, marking the 78th death anniversary of Mahatma Gandhi, the ‘Father of the Nation,’ who was assassinated on January 30, 1948, by Nathuram Godse at Birla House (now Gandhi Smriti) in New Delhi.
• The day was officially declared as Martyrs’ Day in 1949 to honour Mahatma Gandhi’s legacy and the sacrifices of other freedom fighters, with India also observing additional Martyrs’ Days on March 23, May 19, and November 19, each commemorating distinct sacrifices and contributions to the nation.
• Mahatma Gandhi, born as Mohandas Karamchand Gandhi on October 2, 1869, in Porbandar, Gujarat, served as a lawyer, anti-colonial nationalist, and political leader who played a pivotal role in major movements including the Khilafat Movement, Non-Cooperation Movement, Civil Disobedience Movement, Quit India Movement, and the Champaran Satyagraha.
• On January 30, 2026, a Sarva-Dharma Prarthana was held at Gandhi Samadhi, Rajghat, New Delhi, to commemorate the occasion, honoring Gandhi who was named TIME Magazine’s ‘Man of the Year’ in 1930, becoming the only Indian to receive this honour to date, and whose 125th birth anniversary in 1995 led to the institution of the International Gandhi Peace Prize by the Government of India.

Important Days News

World Health Organization Marks 7th World Neglected Tropical Diseases Day with Unite, Act, Eliminate Theme

• The World Health Organization’s World Neglected Tropical Diseases Day was observed globally on January 30, 2026, marking the 7th annual observance with the theme “Unite. Act. Eliminate,” highlighting the collective action required to eradicate neglected tropical diseases affecting over one billion people worldwide.
• The day was first announced by the Crown Prince Court of Abu Dhabi at the 2019 Reaching the Last Mile Forum in the United Arab Emirates, with the inaugural observance taking place on January 30, 2020, and officially designated by the 74th World Health Assembly on May 31, 2021, through decision WHA74(18).
• Neglected Tropical Diseases comprise a group of 21 communicable diseases caused by parasites, bacteria, viruses, fungi, and toxins, prevalent mainly in tropical and subtropical regions, affecting populations primarily in low- and middle-income countries and causing chronic disability, social stigma, economic loss, and persistent poverty.
• Significant progress has been achieved with approximately 1.4 billion people requiring NTD interventions in 2024, reflecting a 36% reduction compared to 2010, while 58 countries had successfully eliminated at least one NTD as of January 2026, advancing toward the WHO’s 2030 vision of eliminating at least one NTD in 100 countries by 2030 under its NTD Roadmap (2021–2030).

State News

Kerala Finance Minister Presents Rs 2.40 Lakh Crore People-Focused Budget with Major Welfare Allocations

• Kerala Finance Minister KN Balagopal presented the state budget for Financial Year 2026-27 in the legislative assembly in Thiruvananthapuram in January 2026, proposing expenditure of approximately Rs 2.40 lakh crore, representing an increase of nearly Rs 48,000-50,000 crore or more than 25% compared to the FY26 revised budget of Rs 1.92 lakh crore.
• The budget allocated Rs 14,500 crore specifically to support social security pensioners and fund new community programs, with Rs 3,720 crore dedicated to the Chief Minister’s ‘Sthree Suraksha Scheme’ providing monthly financial assistance of Rs 1,000 to women and trans-women aged 35-60 not benefiting from other social security schemes, and Rs 30 crore as subsidies for establishing retirement homes for the elderly.
• Total revenue receipts are estimated at Rs 1,82,972 crore for FY27 against revenue expenditure of Rs 2,17,559 crore, generating a revenue deficit of Rs 34,587 crore (2.12% of GSDP), with fiscal deficit estimated at 3.40% while the Debt-to-GSDP ratio improved from 38.47% in 2021 to 33.44% in 2026-27.
• Major sector allocations include Rs 2,071.95 crore for the agri-allied sector, Rs 1,417.26 crore for industries (increase of Rs 122.54 crore), Rs 150 crore for paddy development projects, and Rs 27.82 crore for environment and habitat sector, with announcements including formation of the 12th Pay Revision Commission, introduction of Assured Pension Scheme replacing National Pension System, and a free education scheme for Arts and Science college students.

State News

Andhra Pradesh and FICCI-FLO Partner to Establish Dedicated Women Entrepreneurs’ Industrial Park

• In January 2026, the Andhra Pradesh Economic Development Board signed a Memorandum of Understanding with the Federation of Indian Chambers of Commerce and Industry Ladies Organisation to establish a Women Entrepreneurs’ Industrial Park in Andhra Pradesh, with the agreement signed by T.G. Bharath, Minister for Industries, Commerce and Food Processing, and Poonam Sharma, National President of FICCI-FLO, in Amaravati.
• The 30-acre industrial park will be established under the Andhra Pradesh Policy for Establishment of Private Industrial Parks with Plug-and-Play Industrial Infrastructure (2024–29), catering exclusively to women entrepreneurs who are members of FICCI-FLO to enhance their financial self-reliance and generate employment opportunities.
• The initiative aligns strategically with the state’s ‘One Family, One Entrepreneur’ vision and complements the ambitious plan to establish 175 Micro, Small and Medium Enterprises parks across all assembly constituencies, aiming to nurture local talent and reduce regional industrial disparities.
• Implementation responsibilities are divided with FICCI-FLO handling mobilization, mentorship, and capacity building of women entrepreneurs, while Andhra Pradesh Industrial Infrastructure Corporation will manage land allotment, infrastructure development, statutory approvals, and facilitation to ensure smooth establishment and operation of the dedicated facility.