Daily Current Affairs (DCA) 18 & 19 January, 2026

Daily Current Affairs Quiz
18 & 19 January, 2026

International Affairs

1. United Nations Economic and Social Council (ECOSOC)

Context:

On 23 January 2026, the United Nations Economic and Social Council (ECOSOC) will celebrate its 80th anniversary, marking eight decades of coordinating global action on development.

About ECOSOC

• What it is: One of the six principal organs of the UN, ECOSOC serves as the central forum for international economic, social, and environmental policy coordination, consensus-building, and follow-up on global development commitments.
• Established: 1945 under the UN Charter
• First Meeting: 23 January 1946, London
• Aim: Advance sustainable development by integrating economic growth, social inclusion, and environmental protection, ensuring no one is left behind.

Key Functions

• Policy Coordination: Guides and coordinates the UN development system, including specialized agencies and programmes.
• Global Platform: Facilitates debates, consensus-building, and innovative thinking on development challenges.
• SDG Follow-Up: Monitors and reviews progress on Sustainable Development Goals (SDGs) through the High-Level Political Forum (HLPF).
• Inclusive Engagement: Grants consultative status to 6,500+ NGOs, enabling civil society participation.
• Institutional Linkage: Oversees functional commissions, regional commissions, and expert bodies.
• UN System Governance: Elects executive boards of agencies like UNICEF, UNDP, and UNHCR.

2. UN Biodiversity Beyond National Jurisdiction (BBNJ) Treaty

Context:

The BBNJ Treaty has entered into force after surpassing the required 60 ratifications, establishing the first legally binding global framework to conserve biodiversity in areas beyond national jurisdiction (the High Seas).

About the BBNJ Treaty

• What it is: A legally binding UN treaty under UNCLOS to conserve and sustainably use marine biodiversity in areas beyond national jurisdiction.
• Also known as: High Seas Treaty
• Origin & History:
  • Negotiations began in 2008 due to concerns over unregulated high seas exploitation.
  • Finalised in March 2023 after 15 years of discussions.
  • Entered into force 120 days after the 60th ratification, achieved in September 2025.

Targets

• Achieve the “30 by 30” goal: protect 30% of the global ocean area by 2030.
• Enable large-scale conservation across two-thirds of the oceans beyond national control.

National Affairs

1. SVAMITVA (Survey of Villages Abadi and Mapping with Improvised Technology in Village Area) Scheme

Context:

The Government of India plans to leverage high-resolution drone survey data generated under the SVAMITVA (Survey of Villages Abadi and Mapping with Improvised Technology in Village Area) scheme to improve rural civic infrastructure, beyond its original objective of providing legal property ownership records.

About SVAMITVA Scheme

• Objective: Provide legal property identification (IDs) for rural households to facilitate credit access and property rights.
• Implementation: Uses drone surveys to map inhabited villages with high-accuracy 3D data.
• Coverage: Drone surveys have been conducted in 327,000 villages out of a target of 340,000.
• Property ID Delivery: Cards issued in 150,000 villages so far.
• Ministry: The SVAMITVA scheme is implemented under the Ministry of Panchayati Raj (MoPR), Government of India.

2. India Emerges as a Global Cooperative Powerhouse

Context:

The United Nations declared 2025 as the International Year of Cooperatives (IYC), recognizing the global importance of cooperatives. India has leveraged this momentum under the vision of “Sahkar Se Samriddhi”, becoming a major global player in cooperative development.

Sahkar Se Samriddhi

“Sahkar Se Samriddhi” is the vision and policy framework of the Government of India for strengthening the cooperative sector.

• Meaning: Literally translates to “Prosperity through Cooperation”, emphasizing economic growth, social inclusion, and community-led development through cooperatives.
• Objective: To position India as a global leader in cooperative enterprises, ensuring that cooperatives contribute to financial inclusion, rural livelihoods, and women empowerment.

Cooperatives

Cooperatives are member-owned and member-managed organizations formed to meet the common economic, social, or cultural needs of their members. They operate on the principle of mutual help, democratic control, and shared benefits.

• Membership-based: Owned and controlled by people who use their services.
• Democratic governance: One member, one vote, regardless of shareholding.
• Profit sharing: Surplus/profit is distributed among members or reinvested for the benefit of members.
• Purpose: Focused on serving members’ interests, not just maximizing profits.
• Legal status: Registered under cooperative societies laws (e.g., the Cooperative Societies Act, 1912 in India or state-specific laws).

Importance of Cooperatives in India

• Grassroots Credit Access
  • Provide short-term liquidity to underserved farmers.
  • PACS are being computerized and linked with NABARD for transparent credit flow.
• Market Integration for Small Producers
  • Aggregate small-scale produce to improve bargaining power and market access.
  • Example: Amul (GCMMF) connects millions of milk producers to global supply chains.
• Food Security and Storage
  • Decentralized grain storage reduces post-harvest losses.
  • 112 PACS godowns provide 68,702 MT of storage capacity.
• Promoting Sustainable Livelihoods
  • Support allied activities like fisheries and organic farming.
  • Example: NCOL promotes organic farming through “Bharat Organics” branding and pesticide testing.
• Affordable Service Delivery
  • Act as multi-service hubs at the village level.
  • 800+ PACS assigned as Pradhan Mantri Bhartiya Janaushadhi Kendras for low-cost medicines.

Key Initiatives Taken for Cooperatives

• Digitalization & ERP: ₹2,925 crore project to computerize PACS in 14 languages for real-time auditing.
• Apex Multi-State Societies: Creation of NCEL (Exports), NCOL (Organics), BBSSL (Seeds) for end-to-end support.
• White Revolution 2.0: Target to increase milk procurement by 50% in five years via 20,070 new Dairy Cooperative Societies.
• Legislative and Fiscal Reforms: Cooperative surcharge reduced from 12% to 7%, PACS allowed 25+ new business activities under Model Bye-laws.

3. Chips to Start-up (C2S) Programme

Source: PIB

Context:

The Chips to Start-up (C2S) Programme has recently highlighted its tangible outcomes: 56 student-designed chips fabricated, 75+ patents filed, and extensive chip design training, reflecting India’s growing indigenous semiconductor design capability.

About the Programme

• What it is: A national initiative to develop industry-ready chip design talent and strengthen India’s indigenous semiconductor design ecosystem through hands-on training, R&D, and fabrication exposure.
• Launched in: 2022
• Implemented by: Ministry of Electronics and Information Technology (MeitY)
• Aim:
  • Build a robust pipeline of skilled chip designers
  • Enable hands-on chip fabrication experience
  • Promote start-ups, patents, and IP creation
  • Support technological self-reliance in semiconductors

Key Features

Feature	Details
Outlay	₹250 crore (5 years)
Human Resource Targets	200 PhDs, 7,000 M.Tech (VLSI), 8,800 M.Tech (related streams with VLSI), 69,000 B.Tech students
Infrastructure Access	Shared EDA tools, HPC, FPGA boards, and SMART labs
Hands-on Fabrication	Shared wafer runs via Semi-Conductor Laboratory (SCL), Mohali
Chip Design Enablement	National ChipIN Centre operated by C-DAC, Bengaluru
Innovation Outcomes	Start-up incubation, patents, IP cores, ASICs, SoCs
Industry Collaboration	Training with global EDA and semiconductor firms

4. Second Range-Wide Dolphin Survey

Source: News on Air

Context:

The second range-wide Dolphin Survey has been launched from Bijnor, Uttar Pradesh under Project Dolphin to update population estimates, assess habitats, and evaluate threats to riverine and estuarine dolphins.

About Project Dolphin

• What it is: A national conservation initiative aimed at protecting riverine and oceanic dolphins through habitat protection, scientific monitoring, and stakeholder engagement.
• Launched on: 15 August 2020
• Nodal Ministry: Ministry of Environment, Forest and Climate Change (MoEFCC)
• Aim:
  • Safeguard India’s dolphin diversity
  • Address threats like habitat degradation, pollution, by-catch, and altered river flows
  • Empower local communities for conservation

About the Second Range-Wide Dolphin Survey

• Objective: Pan-India scientific estimation of population, distribution, habitat condition, and threats to riverine and estuarine dolphins
• Implementation: Conducted in two phases across major river systems and coastal/estuarine stretches
• Coordinating Agencies: Wildlife Institute of India in collaboration with State Forest Departments and conservation partners
• Methodology:
  • Standardised survey protocols
  • Use of hydrophones for acoustic monitoring
  • Trained field teams for visual and acoustic counts

5. BRICS Plus Naval Exercise

Source: Mint

Context:

India’s decision to skip the BRICS Plus naval exercise “Will for Peace 2026” has been highlighted in international discussions. New Delhi clarified that these drills are not institutionalised BRICS activities and that its non-participation was a considered political choice amid evolving geopolitics.

About BRICS Plus Naval Exercises

• What it is: Host-led, non-institutionalised maritime drill involving selected BRICS members and invited partner countries, conducted outside the formal BRICS framework.
• Host Nation: South Africa (off the coast of Simon’s Town, near Cape Town)
• Theme: “Joint Actions to Ensure the Safety of Key Shipping Lanes and Maritime Economic Activities”
• Aim: Conduct joint maritime operations to safeguard critical shipping lanes and maritime economic activities, highlighting cooperation among Global South nations

Participants

• Active Navies: China, Russia, Iran, United Arab Emirates, South Africa
• Observers: Brazil, Egypt, Ethiopia, Indonesia
• Non-Participants: India, Brazil (opted out of active participation)

Key Features

• Operations include:
  • Maritime security drills
  • Counter-terrorism operations
  • Anti-sea strike drills
  • Search and rescue exercises
• Operational coordination led by China, with participation of states under sanctions such as Russia and Iran
• Framed as part of the “BRICS Plus” outreach, extending beyond core BRICS membership

6. PM Launches ₹6,957-Crore Kaziranga Elevated Corridor Project

Source: TH

Context:

Prime Minister Narendra Modi laid the foundation stone for the ₹6,957-crore Kaziranga elevated corridor project in Assam’s Kaliabor and virtually flagged off two Amrit Bharat trains from the poll-bound State. The event combined infrastructure rollout with political messaging ahead of upcoming elections.

Key Project Details

• Project length: 86 km
• Type: Four-lane National Highway corridor
• Elevated stretch: 35 km passing through Kaziranga National Park
• Estimated cost: ₹6,957 crore

Kaziranga National Park

• Location: Assam, India (Golaghat and Nagaon districts)
• Established: 1905 (as a reserve forest), declared a National Park in 1974
• UNESCO Status: World Heritage Site (1985)

7. World’s Largest Green Hydrogen & Ammonia Project: Kakinada, Andhra Pradesh

Source: TH

Context:

India is aggressively promoting green energy and decarbonisation, aiming to meet net-zero targets by 2070. Green hydrogen is a key focus for the National Hydrogen Mission, providing a clean alternative to fossil fuels in industries like fertilizers, steel, and transport.

Location:

• Kakinada, Andhra Pradesh

Developer & Investment:

• AM Green, part of Greenko Group
• Investment: USD 10 billion (₹84,000 crore)

Capacity & Phases:

• Green ammonia production: 1.5 MTPA in 3 phases
  • Phase 1 (2027): 0.5 MTPA
  • Phase 2 (2028): 1.0 MTPA
  • Phase 3 (2030): 1.5 MTPA (full capacity)
• Electrolyser capacity: 1950 MW
• Renewable energy input: 2 GW from wind & solar, total RE capacity 7.5 GW

8. Womaniya Initiative – Government e-Marketplace (GeM)

Context:

India has been promoting women entrepreneurship, self-reliance, and MSME empowerment under national initiatives like Aatmanirbhar Bharat, Make in India, and Vocal for Local. Public procurement has historically underutilized women-led enterprises. The ‘Womaniya Initiative’ seeks to bridge this gap by enabling direct access to government buyers for women entrepreneurs and SHGs. The initiative aligns with efforts to increase inclusivity in economic participation and strengthen the women-led MSE ecosystem.

Event:

• 7th Anniversary: 14 January 2026
• Launched on: 14 January 2019
• Organized by: GeM, Ministry of Commerce and Industry (MoC&I)

Objective:

• Enable women entrepreneurs and Self-Help Groups (SHGs) to sell their products to ministries, government departments, and institutions.
• Strengthen onboarding, compliance, product listing, and training through partnerships.

About Government e-Marketplace (GeM):

• Launched: 9 August 2016
• Headquarters: New Delhi
• CEO: Mihir Kumar
• Platform for central and state ministries, departments, and PSUs to procure goods and services efficiently

9. INDIA LAUNCHES RESPONSIBLE NATIONS INDEX (RNI) 2026

Source: News on Air

Launch Details

• Organiser: World Intellectual Foundation (WIF)
• Purpose: Promote ethical governance, social well-being, environmental stewardship, and global responsibility—moving beyond power and economic metrics

Key Highlights:

• RNI assesses nations based on:
  • Ethical governance
  • Social well-being
  • Environmental stewardship
  • Global responsibility
• Focuses on responsibility-centric evaluation rather than traditional power-centric measures
• Initiated as a three-year academic and policy research project with contributions from:
  • Jawaharlal Nehru University (JNU)
  • Indian Institute of Management Mumbai (IIM-M)
• Launch included an expert panel discussion chaired by N. K. Singh (Chairman, 15th Finance Commission)
• Goal: Facilitate a global dialogue on responsible nationhood, inclusive development, and cooperative international progress

Global Ranking – Top & Notable Nations

Rank	Country	Score
1	Singapore	0.61945
2	Switzerland	0.58692
3	Denmark	0.58372
4	Cyprus	0.57737
5	Sweden	0.57397
10	Georgia	0.55805
15	Norway	0.55291
16	India	0.55151
17	France	0.54835
25	United Kingdom	0.53849
50	Indonesia	0.51992
66	USA	0.50880
68	China	0.50547
81	Brazil	0.49324
88	South Africa	0.48539
90	Pakistan	0.48336
96	Russia	0.47896
145	Afghanistan	0.41398
146	North Korea	0.41329
152	South Sudan	0.37389
153	Syria	0.37254
154	Central African Republic	0.35715

Banking/Finance

1. Tax-Saving Investments

Context:

With less than three months left in FY26, investors under the old tax regime often rush to make tax-saving investments. Experts warn that last-minute, deduction-driven choices may compromise long-term financial stability and liquidity.

Key Considerations for Tax Planning

• Evaluate the regime: Check if the old tax regime truly benefits you before investing.
• Avoid overcommitting: Do not lock too much money in low-liquidity tax-saving products. Tax efficiency should not compromise cash flow.
• Align with goals: Investments should suit short-term liquidity needs, medium-term objectives, and long-term retirement goals.

Major Tax-Saving Instruments

• Provident Funds (EPF & VPF)
  • EPF: Employee and employer contribute; voluntary top-up (VPF) is possible.
  • Tax benefits under Section 80C; withdrawals largely tax-efficient.
  • Pros: Capital safety, disciplined savings
  • Cons: Low liquidity, moderate returns; suitable for conservative investors.
• Public Provident Fund (PPF)
  • Government-backed, 15-year lock-in, 7.1% return
  • EEE (Exempt–Exempt–Exempt) tax status
  • Suitable for conservative, long-term savers
• Equity-Linked Savings Scheme (ELSS)
  • 80C deduction, high growth potential through equity
  • 36-month lock-in, can invest via SIP
  • Suitable for long-term investors comfortable with market volatility
• National Pension System (NPS)
  • Market-linked retirement savings through equity and debt
  • Tax deductions under Section 80CCD(1B)
  • Partial withdrawals allowed; a portion must be annuitized
  • Best for long-term, disciplined retirement savings
• Other Options under Section 80C
  • Five-year tax-saving FDs, SCSS, Sukanya Samriddhi Yojana, life insurance, home loan principal repayment, tuition fees
  • Deductions under 80D (health insurance), 80G (donations), HRA exemption

2. RBI Proposes Linking BRICS Digital Currencies for Cross-Border Payments

Source: TOI

Context:

The Reserve Bank of India (RBI) has recommended to the Government of India that a proposal to link the Central Bank Digital Currencies (CBDCs) of BRICS countries be included in the agenda of the 2026 BRICS Summit. The move aims to facilitate smoother cross-border payments among member nations.

About the Proposal

• Objective:
  • Enable seamless cross-border transactions within BRICS nations.
  • Promote interoperability of payment systems and digital currencies.
  • Support global usage of the Indian digital rupee (e-Rupee) without targeting de-dollarisation.
• Scope:
  • Focus on trade finance and tourism payments among BRICS members: Brazil, Russia, India, China, and South Africa.
  • Could include technical discussions on governance, interoperability, settlement mechanisms, and managing trade imbalances via bilateral forex swaps.
• Background:
  • Builds on the 2025 BRICS declaration in Rio, which pushed for interoperable payment systems.
  • All main BRICS members have been piloting CBDCs, though none have fully launched them.
• RBI Initiatives on e-Rupee:
  • Enables offline payments.
  • Provides programmability for government subsidy transfers.
  • Allows fintech firms to offer digital currency wallets.

What are BRICS Digital Currencies?

BRICS Digital Currencies refer to Central Bank Digital Currencies (CBDCs) issued by BRICS member states and proposals to link or interoperate these CBDCs for cross-border payments, trade settlement, and financial cooperation.

It is not a single BRICS currency, but a network of national digital currencies.

Key Countries & Their CBDCs

• China
  • Digital Yuan (e-CNY) – most advanced; pilot in retail & cross-border use
• India
  • Digital Rupee (e₹) – wholesale & retail pilots by Reserve Bank of India
• Brazil
  • Digital Real (Drex) – pilot underway
• Russia
  • Digital Ruble – cross-border focus due to sanctions
• South Africa
  • CBDC pilot for interbank settlement

Is this De-Dollarisation?

• Partially, but not explicitly:
  • Focus is on efficiency and resilience, not replacing the dollar
  • India maintains that CBDC cooperation ≠ anti-dollar strategy
• Dollar remains dominant in:
  • Reserves
  • Global finance
• BRICS approach is incremental diversification

3. Nominal GDP Growth for FY27 Likely at 10–10.5%

Source: BS

Context:

Ahead of the Union Budget 2026–27, a Business Standard poll of economists indicates that the government is likely to assume nominal GDP growth of 10–10.5% for FY27.

Key Highlights

• FY26 Nominal GDP (First Advance Estimates):
  • Growth seen at ~8%, with nominal GDP at ₹357 trillion
  • Lower than 9.8% in FY25, mainly due to subdued inflation
• FY27 Budget Assumption:
  • Ministry of Finance expected to use FY26 estimates as the base
  • Second Advance Estimates (Feb 27) with new base year (2022–23) may alter projections

Nominal GDP

• The total value of all goods and services produced in an economy measured at current market prices, without adjusting for inflation.
• Reflects: Both changes in quantity of output and price levels.
• Usage: Useful for understanding the current market size and government revenue potential, but can be misleading during periods of high inflation.

Real GDP

• The total value of all goods and services produced, adjusted for inflation, measured at constant prices from a base year.
• Reflects: Actual growth in production/output, stripping out price changes.
• Usage: Better for comparing economic growth over time and assessing true economic performance.

Key Difference Table

Feature	Nominal GDP	Real GDP
Prices	Current year prices	Constant/base year prices
Adjusted for inflation?	No	Yes
Purpose	Measures market size & revenue potential	Measures true economic growth
Sensitive to inflation?	Yes	No

4. Paripoorna Mediclaim Ayush Bima (2026)

Context:

The Department of Financial Services today launched the Paripoorna Mediclaim Ayush Bima for Central Government Health Scheme (CGHS) beneficiaries. This insurance policy offers cashless facilities, modern treatments and access to a wide network of hospitals.

Launch & Authority:

• Launched in January 2026 by Department of Financial Services (DFS), Ministry of Finance
• For CGHS beneficiaries

Objective:

• Provides comprehensive health insurance complementing CGHS
• Covers modern treatment and AYUSH therapies
• Ensures cashless treatment and access to a nationwide hospital network

Coverage & Features:

• Policy members: Up to 6 per policy
• Sum Insured: ₹10 lakh or ₹20 lakh
• Co-payment options:
  • 70:30 (Insurer:Subscriber) – 28% discount
  • 50:50 – 42% discount
• AYUSH coverage: 100% of sum insured
• Modern treatment coverage: 25% to 100% of sum insured
• Room rent: 1% (Normal), 2% (ICU)
• Hospitalisation: 30 days pre-hospitalisation, 60 days post-hospitalisation

5. DFS Launches Composite Salary Account Package for Central Government Employees

Launch Details:

• Date: 14 January 2026
• Launched by: M. Nagaraju, Secretary, Department of Financial Services (DFS)

Objective:

To provide Central Government employees (Group A, B & C) a comprehensive, one-stop financial solution integrating banking, insurance, and card benefits, enhancing financial security, convenience, and lifestyle perks.

Key Features:

• Banking Benefits:
  • Zero-balance salary account with unlimited transactions and no maintenance charges
  • Concessional loan rates for housing, education, vehicles, and personal loans
• Insurance Coverage:
  • Personal accident insurance: Rs 1.5 crore
  • Air accident insurance: Rs 2 crore
  • Provides financial security and peace of mind by integrating insurance into the salary account
• Card & Lifestyle Benefits:
  • Premium debit/credit card facilities
  • Airport lounge access, cashback, reward programs
  • Simplified access to banking and lifestyle perks

6. RBI Tightens Scrutiny of Priority Sector Loans Purchased via Securitisation Notes

Source: BL

Context:

RBI observed that asset quality of priority sector loans (PSL) originated by banks directly is generally better than that acquired through securitisation or direct assignment. To safeguard PSL integrity and ensure accurate classification, RBI issued Priority Sector Lending – Targets and Classification (Amendment) Directions, 2026.

Key Guidelines:

1. Verification of PSL Status:

• Banks purchasing loans via securitisation notes must verify priority sector eligibility of the underlying portfolio.
• Verification methods include:
  • Certification by external auditors of the originating entity (e.g., NBFCs).
  • Sample checks by bank staff or appointed auditors.
• Banks must document these norms in their internal policy manuals.

2. Eligible PSL Investments via Securitisation Notes:

• Loans to priority sector categories (excluding ‘others’) can be classified as PSL based on underlying assets.
• Exclusion: Loans against gold jewellery originated by NBFCs are not eligible.
• Bank credit to National Co-operative Development Corporation (NCDC) for on-lending to cooperatives is eligible under relevant PSL categories.

3. Caps and Limits:

• No loan-related charges (guarantee fees, inspection charges, service fees) for PSL loans up to ₹50,000.
• For self-help groups (SHGs) / joint liability groups (JLGs), the ₹50,000 cap applies per member, not per group.
• Housing loans via HFCs approved by National Housing Bank for on-lending:
  • Eligible for PSL classification under housing category.
  • Aggregate limit: ₹20 lakh per borrower.
  • Banks must maintain borrower-wise details and obtain auditor certificates confirming that PSL benefits were not claimed from any other bank.

7. RBI Proposes Linking BRICS Digital Currencies to Ease Cross-Border Payments

Source: BL

Context:

RBI has proposed linking central bank digital currencies (CBDCs) of BRICS members (Brazil, Russia, India, China, South Africa) to facilitate cross-border trade and tourism payments. Aim is to enhance efficiency, reduce transaction costs, and potentially reduce reliance on the US dollar amid rising geopolitical tensions. Initiative builds on the 2025 BRICS Rio Declaration, which emphasized interoperable payment systems.

Key Highlights:

1. Proposal Details:

• Objective: Connect CBDCs of BRICS countries for cross-border trade and tourism.
• Technological Requirements: Interoperable platforms, governance rules, settlement mechanisms for trade imbalances.
• Settlement Idea: Bilateral foreign exchange swaps may be used to manage imbalances.
• Status: All BRICS members are running pilot CBDC projects; none have fully launched yet.

2. Strategic & Geopolitical Significance:

• Could irritate the US, which has warned against bypassing the dollar.
• Past attempts to promote local-currency trade between India and Russia faced hurdles; RBI allowed investment of excess rupee balances in local bonds.
• India positions e-rupee as a safer, regulated alternative to stablecoins, which pose risks to monetary stability and payments ecosystem.

3. Challenges:

• Hesitation among members to adopt foreign technological platforms may delay progress.
• Consensus needed on tech standards, governance, and regulatory alignment.
• Implementation expected to be gradual, with weekly or monthly settlements via swaps as a temporary mechanism.

8. RBI Issues Guidelines for Interest Subvention under Export Promotion Mission (Niryat Protsahan)

Source: News on Air

Key Details

• Scheme Name: Export Promotion Mission – Niryat Protsahan
• Purpose: Provide interest subvention on pre-shipment and post-shipment export credit to eligible exporters
• Implementation: Pilot basis by Government of India

Operational Guidelines

• Issuing Authority: Reserve Bank of India (RBI)
• Notification: Directorate General of Foreign Trade (DGFT)
• Scope: Applies to:
  • Scheduled Commercial Banks
  • Cooperative Banks
  • All-India Financial Institutions
• Eligibility: Benefits strictly for eligible exporters as defined under the scheme
• Credit Covered:
  • Pre-shipment export credit – financing provided before goods are shipped
  • Post-shipment export credit – financing provided after goods have been shipped

Agriculture

1. Agri Subsidy and Need for Reform

Source: IE

Context:

During the 2026 Union Budget cycle, there is a focus on rationalizing food and fertilizer subsidies, which together account for roughly 8.5% of the total budget. Policymakers are exploring merging these subsidies into an augmented PM-Kisan scheme to improve efficiency and reduce distortions.

What Are Agricultural Subsidies?

• Financial support provided by the government to farmers to reduce input costs (fertilizers, power, seeds) or ensure price stability (MSP).
• Need for reform arises due to:
  • Environmental degradation from overuse of urea and chemical fertilizers.
  • Skewed cropping patterns favoring cereals over pulses and oilseeds.
  • Fiscal strain due to escalating subsidy bills.

Importance of Subsidies in India

• Ensuring Food Security
  • Keeps staples affordable under NFSA and PMGKAY.
  • Example: PM Garib Kalyan Yojana provides 5kg free grains to 813 million people.
• Shielding from Global Volatility
  • Protects farmers from sudden spikes in raw material prices.
  • Example: ₹3,500/t DAP subsidy in 2025 to stabilize MRP despite global phosphoric acid cost rise.
• Encouraging Crop Diversification
  • Incentivizes production of pulses and oilseeds over cereals.
  • Example: Mission on Pulses procures 100% tur, urad, masur at MSP, aiming for self-sufficiency by 2027.
• Promoting Modern Technology
  • Reduces cost barriers for high-tech equipment.
  • Example: Sub-Mission on Agricultural Mechanization provides 40–50% subsidies on drones and automated sprayers.
• Climate Resilience
  • Supports adaptation to erratic monsoons via micro-irrigation and solar power.
  • Example: PM-KUSUM solarized 49 lakh agricultural pumps by early 2026.

Initiatives for Reform

• Digitalization of PACS: ₹2,925 crore project to computerize 80,000 PACS for transparent credit delivery.
• Nutrient-Based Subsidy (NBS) Expansion: Introduced fortified fertilizers (Magnesium, Zinc) to promote soil health.
• PM-PRANAM Scheme: Incentivizes states to reduce chemical fertilizer use by sharing 50% of subsidy savings.
• DBT Integration: Direct transfer of ₹3.7 lakh crore to 11 crore farmers under PM-Kisan to reduce leakages.

2. First Open-Sea Marine Fish Farming Project in the Andaman Sea

Source: PIB

Context:

India has launched its first open-sea marine fish farming project in the Andaman Sea, advancing the Blue Economy through science-led, livelihood-oriented utilisation of ocean resources.

About the Project

• What it is: India’s first pilot open-sea aquaculture initiative involving marine finfish and seaweed farming in natural ocean conditions using indigenously developed open-sea cages and marine technologies.
• Location: North Bay, near Sri Vijaya Puram, Andaman Sea, Union Territory of Andaman & Nicobar Islands.
• Implementing Agencies:
  • Ministry of Earth Sciences (MoES)
  • National Institute of Ocean Technology (NIOT)
• Aim: Unlock ocean-based economic potential, generate sustainable coastal livelihoods, and demonstrate technical feasibility for scaling open-sea aquaculture under India’s Blue Economy vision.

Key Features

• Open-Sea Finfish Farming: Using NIOT-designed cages resilient to natural ocean conditions.
• Deep-Water Seaweed Cultivation: Seed distribution to local fishers for livelihood enhancement.
• Community Participation: Livelihood-centric pilot integrating science, technology, and local involvement.
• Scalable Model: PPP-ready approach based on feasibility studies and field experience.
• Economic & Environmental Benefits: Strengthens marine food security, employment, and coastal resilience.

About the Andaman Sea

• What it is: A marginal sea of the northeastern Indian Ocean, historically significant for trade and strategically important for maritime connectivity and ecology.
• Location & Borders:
  • Adjoins South-East Asia
  • Borders the Irrawaddy River delta, Myanmar, Thailand, Sumatra (Indonesia), and the Strait of Malacca
• Key Features:
  • Area: ~7.98 lakh sq km, providing space for ocean circulation, sediment deposition, and marine resource use.
  • Andaman–Nicobar Ridge: Tectonically active subduction zone, shaping seismic and volcanic characteristics.
  • Deep Submarine Valleys: >4,400 m depth in parts, among the deepest zones in the eastern Indian Ocean.
  • Shallow Northern Continental Shelf: Sediment deposition from Irrawaddy River influences salinity, turbidity, and marine habitats.

Facts To Remember

1. A.P. to launch quantum skilling course for students

Andhra Pradesh has enrolled 55,000 students on a mass quantum skilling course on “Quantum Computing: Quantum Algorithms and Qiskit” through the National Programme on Technology Enhanced Learning set to begin 

2. India Invited to Join Gaza ‘Board of Peace’

The United States has invited India to join a proposed Board of Peace for Gaza, a multilateral body envisaged under U.S. President Donald Trump’s peace plan for the Gaza Strip. The invitation was conveyed through a letter from President Trump to Prime Minister Narendra Modi, shared publicly by U.S. Ambassador Sergio Gor.

3. Wikipedia Partners with Microsoft, Meta, Amazon to Monetize AI Training

• On Wikipedia’s 25th anniversary (January 2026), Wikimedia Foundation signed strategic partnerships to provide structured, paid access to its content for AI training.
• Partnerships With: Amazon, Meta, Microsoft, Mistral AI, Perplexity
• Programme: Wikimedia Enterprise
• Objective: Support development of Large Language Models (LLMs) and chatbots.

4. Aaryan Varshney Becomes India’s 92nd Chess Grand Master

• Event: 16th Andranik Margaryan Memorial, Armenia (Jan 9–16, 2026)
• Achievement: Secured 3rd GM norm with 6.5/8 points; became India’s 92nd GM and 8th from Delhi.
• Opponent in Decisive Round: FM Tyhran Ambartsumian (Armenia)
• About GM Title: Awarded by FIDE; requires 3 GM norms and minimum rating of 2500.
• FIDE HQ: Lausanne, Switzerland | President: Arkady Dvorkovich

5. National Startup Day 2026 – 16 January

• Background: Celebrates India’s entrepreneurial ecosystem and 10 years of Start-up India (launched 2016 by DPIIT, MoC&I).
• 2026 Celebrations:
  • Event at Bharat Mandapam, New Delhi, addressed by PM Narendra Modi.
  • Launch of 5th edition of National Startup Awards (NSA 5.0) and Startup Ranking Framework (SRF 5.0).
• NSA 5.0: Recognises startups in 20 categories across Tier-I and Tier-III cities, including deep-tech sectors.
• SRF 5.0: Evaluates 34 States & UTs on 6 reform areas and 19 action points: policy support, infrastructure, funding, market access, capacity building.

6. MP Govt Signs MoU with BHASHINI to Strengthen Multilingual Digital Governance

• Parties: Digital India BHASHINI Division (MeitY) & Government of Madhya Pradesh
• Event: Regional AI Impact Conference 2026, Bhopal, MP
• Objective: Integrate BHASHINI AI-powered language tools and APIs into state digital platforms.

7. Navi Mumbai International Airport to Be Named After D B Patil

• Navi Mumbai International Airport will be named after late D B Patil, a prominent leader linked with farmers’ and local rights movements, as announced by Maharashtra Chief Minister Devendra Fadnavis at a public meeting in Airoli.
• Navi Mumbai is set to become the next economic growth engine of Maharashtra, with the airport acting as a catalyst for sectors like pharmaceuticals, food processing, services, innovation-driven enterprises, and import–export activities.

8. Andhra Pradesh Cabinet Approves Dagadarthi Greenfield Airport in Nellore District

• The Andhra Pradesh Cabinet approved the Dagadarthi Greenfield Airport project in Nellore district, marking a major boost to regional aviation infrastructure.
• With this approval, Dagadarthi will become the 8th airport in Andhra Pradesh, strengthening air connectivity in the state.

9. GAIL Joins PNGRB’s National PNG Drive 2.0 to Promote PNG and CNG Across India

• GAIL (India) Limited has partnered with PNGRB for the National PNG Drive 2.0 initiative, joining the nationwide #NonStopZindagi campaign to promote Piped Natural Gas (PNG) and Compressed Natural Gas (CNG) adoption across India.
• National PNG Drive 2.0 runs from 1 January to 31 March 2026, supporting India’s goal to increase the share of natural gas in the energy mix to 15% by 2030.

10. Essar Signs ₹5,100 Crore MoU with Gujarat for Large-Scale Bio-Fuel Project

• Essar Future Energy Limited signed an MoU with the Gujarat government to invest ₹5,100 crore in setting up a large-scale bio-fuel complex in Devbhumi Dwarka district.
• The MoU was signed at the Vibrant Gujarat Regional Conference (VGRC) held in Rajkot, marking a major push for renewable energy in the state.
• The proposed bio-fuel project will have an initial feedstock processing capacity of 1 million tonnes per annum (MTPA) and was signed in the presence of senior state ministers and officials.

11. Indian Mountaineer Aritra Roy Conquers Mount Aconcagua in Argentina

• Indian mountaineer Aritra Roy successfully summited Mount Aconcagua in Argentina, the highest peak outside Asia at 6,967.15 meters above sea level.
• The solo expedition, sponsored by Hindustan Aeronautics Limited (HAL), is part of Roy’s Seven Summits challenge, following his earlier climb of Mount Everest.
• Roy reached the summit on January 7 at 2:00 PM local time after a 44-km trek in extreme conditions with temperatures as low as –40°C, facing snowstorms and blizzards.

12. India Climbs to 80th Position in Global Passport Index 2026

• India ranked 80th in the Henley Passport Index 2026, with visa-free, visa-on-arrival or eTA access to 55 destinations, sharing the rank with Algeria and Niger.
• India’s position has improved by five places from 85th in 2025, reflecting a gradual increase in global mobility for Indian passport holders.
• Despite the improvement, India remains below the global average of over 100 destinations, with limited access to Europe, the UK, the US, and Canada, restricting spontaneous travel.
• Singapore continues to hold the most powerful passport (192 destinations), followed by Japan and South Korea jointly at second place, while Afghanistan remains the weakest (24 destinations).
• Compared to peers, India lags behind China (59th, 81 destinations), Saudi Arabia (54th, 88 destinations) and South Africa (48th, 101 destinations), highlighting the mobility gap for Indian travellers.

13. Kotak Mahindra Bank Names Former Bajaj Finance MD Anup Kumar Saha as Whole-Time Director

• Kotak Mahindra Bank appointed former Bajaj Finance MD Anup Kumar Saha as its whole-time director.
• Saha will oversee consumer banking, marketing, and data analytics, focusing on customer-centric transformation, digital innovation, and data-led strategies.

Recent Appointments in Banking & Insurance Sector

• CEO of HSBC Private Bank – Ida Liu (replace Georges Elhedery)
• CEO of Health Insurance Ecosystem by General Insurance Council – Prakash
• Interim MD & CEO of Canara Bank – Hardeep Singh Ahluwalia (replace K. Satyanarayana Raju)
• Non-Executive Chairman of India Infoline Finance Limited (IIFL) – B.P. Kanungo

14. Australia Women’s Captain Alyssa Healy Announces Retirement from International Cricket

• Australia women’s team captain Alyssa Healy announced her retirement from all forms of international cricket ahead of the T20 World Cup 2026.

Recently Retired Players

• Jinson Johnson (Kerala, India) – Middle-distance Runner
• Usman Khawaja (Australia) – International cricket
• Doug Bracewell (New Zealand) – all forms of international cricket
• Mohit Sharma (India) – All Forms of Cricket
• Kane Williamson (New Zealand) – T20 Internationals
• Rohan Bopanna (India) – Professional Tennis

15. Indian Army Inducts Solar-Powered MAPSS Drone for Long-Endurance Border Surveillance

• Indian Army signs ₹168 crore contract for MAPSS, a solar-powered surveillance drone system, marking the first induction of a solar-powered unmanned aerial platform for long-endurance border monitoring.

16. IMF raises India’s economic growth forecast to 7.3 per cent for current fiscal

The International Monetary Fund (IMF) has raised India’s economic growth projection for 2025 by 0.7 percentage point to 7.3 per cent.

17. INS Sudarshini to embark on 10-month Lokayan 26 voyage

The Indian Navy Ship, INS Sudarshini, will embark on a 10-month transoceanic expedition, on the voyage of Lokayan 26.

18. Government e-Marketplace & WTC Mumbai sign MoU to strengthen MSME participation 

Government e-Marketplace (GeM) and World Trade Centre (WTC) Mumbai today signed a Memorandum of Understanding to boost outreach and strengthen MSME participation in public procurement. 

19. Union Minister Bhupender Yadav chairs 88th meeting of Standing Committee of National Board for Wildlife

Environment, Forest and Climate Change Minister Bhupender Yadav today chaired the 88th meeting of the Standing Committee of the National Board for Wildlife in New Delhi. 

20. Veteran music composer Ilaiyaraaja to be honored with Padmapani Award at 11th Ajanta-Ellora International Film Festival

The prestigious ‘Padmapani Award’ of the 11th Ajanta-Ellora International Film Festival has been announced for this year’s veteran music composer Ilaiyaraaja.

21. Union Minister Jitan Ram Manjhi inaugurates PM Vishwakarma Haat 2026 in New Delhi

Union Minister of Micro, Small and Medium Enterprises (MSME) Jitan Ram Manjhi has described MSMEs as the backbone of the country’s development. Mr Manjhi said this while addressing the inaugural ceremony of PM Vishwakarma Haat 2026 in New Delhi