National News

Government of India Launches Rs 4,531 Crore Market Access Support Scheme for Exporters

• On December 31, 2025, the Government of India launched the Market Access Support (MAS) Scheme with a total allocation of Rs 4,531 crore for a six-year implementation period spanning Financial Year 2025-26 to FY 2030-31, under the broader Rs 25,060 crore Export Promotion Mission approved by the Union Cabinet under Prime Minister Narendra Modi in November 2025.
• The scheme operates under the Niryat Disha (Non-Financial Enablers) framework and is jointly implemented by the Department of Commerce, Ministry of Micro, Small and Medium Enterprises, and Ministry of Finance, in coordination with Indian Missions abroad, Export Promotion Councils, Commodity Boards, and Industry Associations to strengthen global market access for Indian exporters.
• Financial support under the scheme includes participation in international trade fairs and exhibitions, Buyer-Seller Meets with a cap of Rs 5 crore per event, Mega Reverse Buyer-Seller Meets with assistance up to Rs 10 crore, trade delegations to priority and emerging markets with support up to Rs 5 crore per event, and Proofs-of-Concept or product demonstrations in technology-intensive and sunrise sectors.
• The scheme mandates a minimum of 35% MSME participation in all supported activities, with trade delegations required to have 50 or more participants, prioritizing new geographies and emerging markets, while Rs 500 crore has been earmarked specifically for FY 2025-26, with an additional Rs 330 crore allocated to clear pending arrears from the previous Market Access Initiative.

National News

Ministry of Electronics and IT Approves 22 New Proposals Worth Rs 41,863 Crores Under ECMS

• On January 2, 2026, the Ministry of Electronics and Information Technology approved 22 additional proposals valued at Rs 41,863 crores under the Electronics Components Manufacturing Scheme (ECMS) as part of the third tranche of clearances, bringing the cumulative total to 46 approved projects with combined investments of Rs 56,567 crore across India’s electronics manufacturing sector.
• The 22 approved projects span 11 critical electronics product segments including bare components such as Printed Circuit Boards, High-Density Interconnects, capacitors, connectors, enclosures, and lithium-ion cells; sub-assemblies including camera modules, display modules, and optical transceivers; and supply chain materials such as aluminium extrusions, anode material for lithium-ion cells, and copper clad laminates for PCBs.
• The approved companies include major players such as India Circuits Private Limited, Vital Electronics Private Limited, Signum Electronics Limited, BPL Limited, AT & S India Private Limited, TDK India Private Limited, Amphenol High Speed Technology India Private Limited, Motherson Electronics Components Private Limited, Tata Electronics Private Limited, Samsung Display Noida Private Limited, and Hindalco Industries Limited among others.
• The projects are strategically distributed across eight states—Andhra Pradesh, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan—ensuring geographical diversity and contributing to India’s goal of establishing a robust domestic electronics components manufacturing ecosystem capable of supporting the country’s growing electronics industry.

Banking and Finance News

Ministry of Commerce Launches Two Key Financial Interventions Worth Rs 7,295 Crore for MSME Exports

• In January 2026, the Directorate General of Foreign Trade under the Ministry of Commerce & Industry launched two major financial interventions totaling Rs 7,295 crore as part of the initial rollout of the Export Promotion Mission under the Niryat Protsahan sub-scheme, specifically designed to boost Micro, Small and Medium Enterprises exports and enhance access to critical trade finance.
• The first intervention relates to interest subvention for pre and post-shipment export credit with a budget outlay of Rs 5,181 crore valid for six years from FY 2025-26 to FY 2030-31, offering eligible exporters a base interest subvention of 2.75% with provisions for additional incentives for exports to notified under-represented or emerging markets, subject to operational readiness, thereby reducing the cost of export credit and easing working-capital constraints.
• The second intervention, valued at Rs 2,114 crore and implemented for six years from FY 2025-26 to FY 2030-31, introduces collateral guarantee support for export credit in partnership with the Credit Guarantee Fund Trust for Micro and Small Enterprises (CGTMSE), addressing the significant collateral constraints that have historically limited MSME exporters’ access to bank financing.
• Under the collateral support scheme, micro and small exporters receive maximum guarantee coverage of 85% while medium exporters receive up to 65% coverage, with outstanding guaranteed exposure capped at Rs 10 crore per exporter in a financial year, thereby enabling banks to extend credit more confidently to exporters who previously struggled to meet traditional collateral requirements.

National News

Union Health Minister Releases 10th Edition of Indian Pharmacopoeia Featuring Expanded Drug Standards

• On January 2, 2026, Union Minister Jagat Prakash Nadda, who heads both the Ministry of Health & Family Welfare and Ministry of Chemicals and Fertilizers, released the 10th edition of the Indian Pharmacopoeia (IP 2026) at Dr. Ambedkar International Centre in New Delhi, marking a significant update to India’s official compendium of drug standards that is legally enforceable under the Drugs and Cosmetics Act, 1940.
• The IP 2026 edition adds 121 new monographs bringing the total to 3,340 drug standards, with expanded coverage of critical therapeutic categories including anti-tubercular medicines, anti-diabetic medicines, anti-cancer drugs, and iron and micronutrient supplements used in national health programs, ensuring comprehensive quality control standards for drugs widely used across India’s healthcare system.
• A major innovation in IP 2026 is the introduction of 20 monographs specifically for blood components used in transfusion medicine, aligning with the Drugs and Cosmetics (Second Amendment) Rules, 2020, to ensure safe blood transfusions and strict adherence to national regulatory standards for blood banking and transfusion services across hospitals and blood banks.
• The Indian Pharmacopoeia, first published in 1955, serves as the primary reference for quality, safety, and efficacy of drugs and pharmaceuticals in India, and is published by the Indian Pharmacopoeia Commission under the Ministry of Health & Family Welfare, providing legally binding standards for regulatory inspections, drug licensing, manufacturing standards, and quality control testing in laboratories and hospitals nationwide.

Defence News

Indian Army Declares 2026 as Year of Networking and Data Centricity

• In January 2026, the Indian Army under Chief of the Army Staff General Upendra Dwivedi declared 2026 as the ‘Year of Networking & Data Centricity’ as part of the official 2026 vision to drive digital integration, enhance connectivity across all military platforms, enable real-time decision-making, and build a future-ready, technologically advanced force capable of modern warfare requirements.
• The initiative aims to treat data as a core operational asset to enhance situational awareness, decision speed, and combat effectiveness by establishing seamless digital connectivity among soldiers, command centres, sensors, weapon platforms, intelligence units, and logistics systems, enabling simultaneous and precise actions across multiple platforms during operations.
• The declaration builds upon the Indian Army’s decade-long transformation driven by reforms, jointness with other armed forces, innovation in military technology, and self-reliance in defense manufacturing, and directly follows the 2024-25 theme of ‘Year of Technology Absorption’ by operationalizing the technologies that were absorbed during the previous year.
• Indigenous communication systems, battlefield management platforms, and secure defense networks form the technological backbone of this initiative, with real-time collection, processing, and sharing of battlefield data enabling data-centric operations that significantly improve the Indian Army’s ability to conduct network-centric warfare and respond rapidly to emerging threats along India’s borders.

National News

Government Extends PLI Scheme for Textiles Deadline to March 31, 2026

• On January 2, 2025, the Ministry of Textiles extended the deadline for submission of fresh applications under the Production Linked Incentive (PLI) Scheme for Textiles to March 31, 2026, from the previous deadline of December 31, 2025, providing additional time for companies to participate in this major manufacturing incentive program.
• The PLI Scheme for Textiles was originally launched in September 2021 with a substantial budget outlay of Rs 10,683 crores covering a five-year implementation period from Financial Year 2021-22 to FY 2025-26, designed to promote manufacturing competitiveness, enhance global market positioning, and boost exports in selected segments of India’s textile industry.
• The scheme prioritizes support for strategically important areas such as Man-Made Fibre (MMF) Apparel, MMF Fabrics, and Technical Textiles including advanced performance fibres and specialised products that represent high-growth segments with significant export potential and value addition capabilities.
• Under the scheme, 74 applications have been approved so far with proposed investments totaling approximately Rs 28,711 crore, demonstrating strong industry interest and commitment to expanding India’s textile manufacturing capacity in technology-intensive and higher-value segments that can compete effectively in global markets.

Defence News

Indian Army Launches Radio Sangam Community Radio Station Along Line of Control in Jammu and Kashmir

• On January 2, 2026, the Indian Army in collaboration with civil administration and local residents launched “Radio Sangam,” India’s first community radio station along the Line of Control, at Keri village in Doongi block of Rajouri district, Jammu and Kashmir, broadcasting on 88.8 FM frequency to improve information outreach and communication with border communities.
• Radio Sangam serves as a trusted source of verified information for villages located close to the Line of Control, broadcasting diverse programs including awareness campaigns on health and safety, agriculture and livelihood tips for farmers, local news and administrative updates, cultural programs showcasing regional music and traditions, and interactive shows encouraging community participation.
• The radio station aims to promote local culture, music, and entertainment while simultaneously providing reliable information to counter misinformation, strengthen trust and collaboration between the Indian Army, civil administration, and villagers in border areas, and serve as an effective medium for disseminating important government schemes and emergency information.
• The launch of Radio Sangam represents a strategic soft-power initiative by the Indian Army to enhance civil-military relations in sensitive border areas, provide entertainment and educational content to geographically isolated communities, and create a communication infrastructure that can be leveraged during emergencies, natural disasters, or security situations requiring immediate public information dissemination.

Science and Technology News

External Affairs Minister Launches IITM Global Research Foundation at IIT Madras

• In January 2026, Union Minister Dr. S. Jaishankar of the Ministry of External Affairs launched the ‘IITM Global Research Foundation’ at the Indian Institute of Technology-Madras campus in Chennai, Tamil Nadu, marking IIT Madras’s ambitious initiative to emerge as the world’s first multinational university with globally distributed research and innovation capabilities.
• IITM Global is designed as a dynamic ‘plug-and-play’ framework that enables deep-tech innovators, researchers, startups, and industry partners to access international markets, capital, and research opportunities, structured around four main pillars: technology transfer to international markets, joint global research projects, overseas business opportunities for IIT Madras startups, and attracting foreign investment into the institute’s innovation ecosystem.
• As part of the IITM Global rollout, IIT Madras signed multiple Memorandums of Understanding with global partners including three agreements in the United States, one in the United Kingdom, three in Germany, three in Dubai (United Arab Emirates), three in the Asia-Pacific region, and six under the ‘India-for-Global’ initiative, establishing a comprehensive international partnership network.
• The initial phase of IITM Global will be established in the United States, Dubai (UAE), Malaysia, and Germany with plans for further expansion, enabling the institute to conduct research, establish physical presence, facilitate student and faculty exchanges, support startup internationalization, and create pathways for collaborative innovation with leading global institutions and industry partners.

State News

Asian Development Bank Approves Rs 4,100 Crore Loan for Musi Riverfront Development in Telangana

• On January 2, 2026, D. Sridhar Babu, Minister for Industries and Commerce of Telangana, announced that the Asian Development Bank has granted in-principle approval for a Rs 4,100 crore (USD 500 million) loan to the Telangana state government for Phase-I of the ambitious Musi Riverfront Development Project, which aims to rejuvenate the Musi River, enhance ecological health, and develop the riverfront as a vibrant socio-economic corridor.
• Phase-I of the project covers 21 kilometres of Zone-I, stretching from Osman Sagar (Gandipet) to Bapu Ghat and Himayatsagar to Bapu Ghat, out of the total 55-kilometre project length that has been segmented into five zones for phased execution, with the Detailed Project Report prepared by a consortium led by Singapore-based Meinhardt along with Cushman & Wakefield India and RIOS Design Studio.
• The project will be executed by Musi Riverfront Development Corporation Limited (MRDCL), a Special Purpose Vehicle established by the Telangana government specifically for this development, with Phase-I works scheduled to begin after cost estimates are finalized by March 31, 2026, following which construction and implementation activities will commence.
• A significant component of the project includes the redevelopment of Bapu Ghat and the adjoining Gandhi Sarovar into a major riverfront landmark with special emphasis on the Mahatma Gandhi memorial, enhancing both the ecological and cultural aspects of the Musi riverfront while creating public spaces that serve the social, economic, and recreational needs of Hyderabad’s residents.

Banking and Finance News

SEBI Announces Phased Capital and Compliance Requirements for Merchant Bankers

• In December 2025, the Securities and Exchange Board of India notified a phased rollout of revised regulatory requirements for Merchant Bankers by amending the SEBI (Merchant Bankers) Regulations, 1992, now called the SEBI (Merchant Bankers) (Amendment) Regulations, 2025, introducing higher capital adequacy, liquid net worth requirements, and underwriting limits to strengthen the financial stability of merchant banking operations.
• Category-I merchant bankers are required to maintain a minimum net worth of Rs 25 crore by January 2, 2027, doubling to Rs 50 crore by January 2, 2028, while also maintaining Liquid Net Worth of Rs 6.25 crore by January 2027 and Rs 12.5 crore by January 2028, while Category-II merchant bankers must maintain Rs 7.5 crore and Rs 10 crore in net worth across the two implementation phases.
• SEBI has mandated that total underwriting obligations should not exceed 20 times a merchant banker’s liquid net worth, with a two-year transition period provided to existing bankers to comply with this new rule, ensuring that merchant bankers maintain adequate financial resources relative to their underwriting commitments and risk exposure.
• All merchant bankers must now generate minimum revenue from permitted activities—Rs 25 crore for Category-I and Rs 5 crore for Category-II over a three-year period—with failure to meet these revenue thresholds potentially resulting in cancellation of registration, ensuring that only active and viable merchant banking operations continue to operate in India’s securities markets.

Banking and Finance News

ICICI Bank Launches Capital Gains Account Scheme for Tax-Exempt Deposits

• On January 1, 2026, ICICI Bank Limited launched the Capital Gains Account Scheme (CGAS), 1988, under the Income Tax Act, 1961, allowing taxpayers to deposit un-invested long-term capital gains from specified assets, earn interest comparable to savings accounts or fixed deposits, and avail tax exemptions for up to three years while planning their reinvestment strategy.
• The scheme enables taxpayers to deposit un-invested long-term capital gains or sale proceeds before the Income Tax Return due date to claim tax exemptions, with funds allowed to remain in the account for up to three years while earning interest at rates similar to savings or term deposits, after which any unutilized funds become taxable as per Income Tax regulations.
• ICICI Bank offers two types of CGAS accounts: Type A is a savings account with flexible withdrawals permitted only for approved reinvestment purposes without cheque book or debit card facilities, while Type B is a fixed-tenure term deposit available in cumulative or non-cumulative formats requiring a minimum deposit of Rs 10,000 and offering interest rates comparable to regular fixed deposits.
• The scheme is currently available to resident individuals and Hindu Undivided Families (HUFs) with plans to extend eligibility to Non-Resident Indians and non-individual entities, and accounts can be opened at ICICI Bank branches across India excluding rural locations as per CGAS norms, with withdrawals requiring proof of fund usage through Form C for first withdrawals and Form D for subsequent withdrawals, with proceeds eligible for reinvestment in property, agricultural land, or new capital assets of industrial undertakings in non-urban areas or Special Economic Zones.

Appointments and Resignations News

ESAF Small Finance Bank Appoints Karthikeyan Manickam as Chairman

• In January 2026, ESAF Small Finance Bank appointed Karthikeyan Manickam, former Executive Director of Bank of India, as its new Chairman effective from January 2, 2026, succeeding Ravimohan Periyakavil Ramakrishnan who stepped down as Part-Time Chairman on December 20, 2025.
• Karthikeyan Manickam brings extensive experience of more than 36 years in public sector banking and is widely recognized for his robust domain expertise across various critical banking verticals including operations, risk management, regulatory compliance, human resources, credit monitoring and recovery, financial inclusion initiatives, and customer-centric banking practices.
• During his distinguished career, he held various senior leadership roles at Indian Bank, served on the boards of Tamil Nadu Grama Bank and BOI STAR Investment Managers Private Limited, and most notably served as Chairman of Star Union Dai-ichi Life Insurance Company Limited (SUD Life), demonstrating his capability in managing complex financial institutions.
• His appointment as Chairman of ESAF Small Finance Bank is expected to strengthen the institution’s governance framework, enhance its operational efficiency, and accelerate its growth trajectory in serving micro, small and medium enterprises and financially underserved segments while ensuring strict adherence to regulatory requirements and risk management standards.

Science and Technology News

SpaceX Launches Italy’s COSMO-SkyMed Second Generation Earth Observation Satellite

• On January 2, 2026, SpaceX launched the COSMO-SkyMed Second Generation-Flight Model 3 (CSG-FM3) Earth Observation Satellite for the Italian Space Agency and Italian Ministry of Defence aboard a Falcon 9 rocket from Vandenberg Space Force Base in California, marking the first SpaceX mission of 2026 and the first orbital rocket launch globally in 2026.
• The Falcon 9 reusable first-stage booster successfully lifted off and its upper stage deployed the COSMO-SkyMed Second Generation satellite into a sun-synchronous Low Earth Orbit at approximately 620 kilometres altitude, with the satellite weighing approximately 2,205 kilograms and featuring upgraded Synthetic Aperture Radar sensors and improved imaging capabilities compared to the original constellation.
• The COSMO-SkyMed Second Generation constellation, designed as a dual-use system from inception, supports both civilian and defense applications 24 hours a day in all weather conditions, providing high-resolution radar imaging for disaster monitoring, environmental assessment, agriculture surveillance, maritime security, border monitoring, and strategic planning purposes.
• The satellite’s advanced capabilities enable tracking of natural disasters including floods, earthquakes, landslides, and wildfires in real-time, monitoring of glacier movement, assessment of forest health and crop conditions, soil-moisture analysis, high-resolution radar mapping for cartography and urban planning, and support for national security operations including maritime surveillance and border monitoring across the Mediterranean basin and beyond.

Important Days News

World Braille Day 2026 Observed on January 4

• The United Nations’ World Braille Day is observed annually across the globe on January 4 to mark the birth anniversary of Louis Braille, inventor of the Braille tactile writing system, with January 4, 2026, marking the 8th World Braille Day observance and the 217th birth anniversary of Louis Braille, underscoring the critical importance of the Braille system for visually impaired individuals worldwide.
• World Braille Day was established by the United Nations General Assembly on December 17, 2018, through resolution A/RES/73/161, with the first observance taking place on January 4, 2019, as a tribute to Louis Braille who was born on January 4, 1809, in Coupvray, France, lost his eyesight completely by age 5, and developed the revolutionary Braille system at just 15 years old in 1824.
• The Braille system is a touch-based writing system using six-dot (3×2) cells to help blind and partially sighted people read letters, numbers, and symbols by touch, which Louis Braille first published in 1829 in his book “Method of Writing Words, Music, and Plain Songs by Means of Dots,” simplifying the earlier Haüy system that embossed Latin letters on thick paper into an easier-to-use format requiring less training.
• The UN Convention on the Rights of Persons with Disabilities (2006) recognizes Braille as essential for communication, education, and freedom of expression for visually impaired individuals, while UNESCO initiated standardization efforts in 1949 that led to universal adoption of the Braille alphabet by 1950, and officially declared Braille as legitimate a language as any other in 2005, with the World Blind Union actively promoting Braille literacy initiatives globally.

Appointments and Resignations News

Justice Mahesh Sharadchandra Sonak Appointed Chief Justice of Jharkhand High Court

• On January 2, 2026, the Department of Justice, Ministry of Law and Justice, announced that President of India Droupadi Murmu approved the appointment of Justice Mahesh Sharadchandra Sonak, currently a judge of the Bombay High Court, as the Chief Justice of the Jharkhand High Court under Article 217(1) of the Constitution of India, in consultation with the Chief Justice of India.
• Justice Sonak will assume office as Chief Justice of Jharkhand High Court following the retirement of incumbent Chief Justice Tarlok Singh Chauhan on January 8, 2026, and will serve in this position until his scheduled retirement on November 27, 2026, providing judicial leadership to the High Court during this period.
• Justice Mahesh Sharadchandra Sonak was enrolled as an Advocate with the Bar Council of Maharashtra & Goa in October 1988 and practiced at the Panaji Bench of the Bombay High Court specializing in civil and constitutional law, labour and service law, environmental law, commercial and tax laws, company law, and public interest litigations before his elevation to the bench.
• During his legal career, Justice Sonak served as Additional Standing Counsel for the Central Government and Special Counsel for the State Government, demonstrating his expertise in government litigation, before being appointed as an Additional Judge of the Bombay High Court in June 2013, where he has served with distinction handling complex constitutional and civil matters over the past decade.