Context: India’s market regulator, the Securities and Exchange Board of India (Sebi), has intensified scrutiny of New Fund Offers (NFOs) to check portfolio overlap with existing mutual fund schemes, even though its draft proposals on the issue are yet to be formally notified. What is an NFO? A New Fund Offer (NFO) is the initial launch of a mutual fund scheme by an Asset Management Company (AMC), during which investors can subscribe to units at a fixed offer price (usually ₹10 per unit). NFOs are regulated by the Securities and Exchange Board of India (SEBI). Key Characteristics Types of NFOs
RBI Proposes Changes to FX Risk Norms for Banks
Context: The Reserve Bank of India (RBI) has proposed revisions to the framework governing how banks calculate net foreign exchange (FX) exposure and set aside capital for FX risk, with the aim of aligning domestic norms with global standards and ensuring uniform implementation across regulated entities. The proposed rules are open for stakeholder feedback and are expected to come into effect from April 1, 2027. What is changing? 1. Unified net open position (NOP) calculation 2. Exclusion of ‘structural’ FX positions Banks may exclude certain long-term, non-trading FX positions from NOP calculations, such as: These positions are typically strategic and long-term, not meant for short-term trading gains. Why RBI is proposing these changes
Operation Hawkeye
Context: The United States conducted large-scale airstrikes against ISIS targets in Syria under Operation Hawkeye, following an ISIS ambush in Palmyra that killed two U.S. soldiers and a civilian interpreter. What is Operation Hawkeye? About Syria
How U.S. Actions Under Donald Trump Violate International Law
Source: TH Context: An opinion article by Thomas Mathew critiques recent U.S. military action against Venezuela, announced by U.S. President Donald Trump, arguing that it represents a serious violation of international law and reflects the breakdown of the global balance-of-power system. Core Principles of International Law Involved What Happened? Questioning the Official Justification Violation of International Law Breakdown of the Balance of Power Consequences of Unipolarity Implications for India
India Likely to Join U.S.-Led “Pax Silica” Initiative
Source: IE Context: India will be invited next month to join “Pax Silica”, a U.S.-led multilateral initiative focused on cooperation in semiconductors, critical minerals, and artificial intelligence, according to incoming U.S. Ambassador to India Sergio Gor. Pax Silica Pax Silica is a U.S.-led multilateral initiative for cooperation in semiconductors, critical minerals, and artificial intelligence (AI), aimed at strengthening secure, resilient, and trusted technology supply chains amid geopolitical and trade disruptions.
Indusfood 2026
Context: Union Minister Chirag Paswan (Ministry of Food Processing Industries) inaugurated the 9th edition of Indusfood in Greater Noida, Uttar Pradesh, in January 2026. About Indusfood 2026 Major Initiatives Launched
3rd Indian Lighthouse Festival (ILF) 2026
Source: PIB Context: The 3rd edition of the Indian Lighthouse Festival (ILF 3.0) was held from January 9–10, 2026, at MGM Park, Visakhapatnam, Andhra Pradesh. About the Festival Key Highlights
Indian Army Conducts First MCF Exercise ‘Sanjha Shakti’
Source: PIB Context: The Indian Army conducted its first-ever Military–Civil Fusion (MCF) exercise ‘Sanjha Shakti’ on January 8–9, 2026, at Diggi Range, Khadki Military Station, Pune, under the Southern Command. Key Details
PSLV Mission-C62
Source: TH Context: The Indian Space Research Organisation (ISRO) suffered a second consecutive setback as the PSLV-C62 mission failed after the rocket deviated from its intended flight path during the third stage, resulting in the loss of 16 satellites, including EOS-N1 (Anvesha). Mission Details EOS-N1 (Anvesha)
Viksit Bharat Shiksha Adhishthan Bill, 2025
Context: Viksit Bharat Shiksha Adhishthan Bill, 2025, introduced in the Lok Sabha on December 15, 2025, as a major reform aligned with the vision of Viksit Bharat 2047 and the National Education Policy 2020. Key Objectives Institutional Framework VBSA will function through three vertical councils: Major Changes Proposed Coverage
