Source: BS Context: India is reviewing proposals from foreign banks to expand their presence amid a calibrated liberalisation of the financial sector and evolving FDI and trade commitments. About the IDC Mechanism Eligibility to Become a Foreign Bank in India Foreign banks are permitted to operate in India under a regulated and calibrated framework to balance financial openness with systemic stability. The entire process is governed by the Reserve Bank of India (RBI) in consultation with the Government of India. Who qualifies as a foreign bank? A foreign bank is a banking institution that: Capital Requirements Modes of Entry into India Foreign banks can operate in India through three routes:
SEBI Working on Technology Road Map for Stock Exchanges & MIIs
Source: BS Context: With capital markets becoming more complex and technology-driven, the market regulator is stepping up efforts to future-proof India’s market infrastructure institutions (MIIs). Key Development About the Technology Road Map Focus Areas Highlighted by SEBI AI-Driven Regulatory Initiatives SEBI has already deployed or is developing several artificial intelligence (AI) tools: Sensex at 40: Broader Perspective
India Surpasses China to Become the World’s Largest Rice Producer
Source: TOI Context: India has overtaken China to rank No. 1 globally in rice production, reflecting sustained gains from improved irrigation, high-yielding varieties, and supportive procurement policies. Global Status State-wise Rice Production (2023–24) (As per Economic Survey, Statistical Appendix) Rank State Production Share 1 Telangana 16.63 MT ~12.17% 2 Uttar Pradesh 15.72 MT ~11.50% 3 West Bengal 15.12 MT ~11.06% Other major rice-producing states:Andhra Pradesh, Punjab, Odisha, Bihar, Chhattisgarh, Tamil Nadu, Assam. Geographical Features of Rice Production in India 1. Climate Belt 2. Water Geography 3. Irrigation-driven Expansion 4. Terrain Adaptation
Pradhan Mantri Matru Vandana Yojana (PMMVY) Completes 9 Years
Context: Pradhan Mantri Matru Vandana Yojana, a flagship scheme of the government for pregnant women and lactating mothers, has completed nine years. Pradhan Mantri Matru Vandana Yojana (PMMVY) The Pradhan Mantri Matru Vandana Yojana (PMMVY) is a maternity benefit scheme implemented by the Government of India to provide conditional cash assistance to pregnant and lactating women for their first living child. The scheme aims to improve maternal health, nutrition, and compensate for wage loss during pregnancy and after childbirth. Key Objectives Cash Assistance Structure Total benefit: ₹5,000 (Direct Benefit Transfer – DBT) Installment Amount Condition 1st ₹1,000 Early registration of pregnancy 2nd ₹2,000 At least one antenatal check-up 3rd ₹2,000 Childbirth registered + first cycle of immunisation Additionally, eligible women also receive ₹1,000 under Janani Suraksha Yojana (JSY), making the total maternity benefit ₹6,000, as mandated under the National Food Security Act, 2013
Electronics Component Manufacturing Scheme (ECMS)
Source: ET Context: India is accelerating its push to strengthen domestic electronics manufacturing and reduce import dependence through targeted fiscal incentives. Key Development About the ECMS Beneficiaries Key Feature
Export Promotion Mission (EPM)
Context: To boost exports and ease credit constraints faced by exporters—especially MSMEs—the Government has expanded the Export Promotion Mission (EPM) with additional financial support measures. Key Developments Scheme 1: Interest Subvention for Pre- and Post-Shipment Export Credit Scheme 2: Collateral Support for Export Credit
Rah-Veer (Good Samaritan) Scheme
Source: PIB Context: The Ministry of Road Transport and Highways (MoRTH) has reiterated the protections and incentives available under the Rah-Veer (Good Samaritan) Scheme to encourage bystanders to assist road accident victims without fear of legal or procedural harassment. About Rah-Veer Rah-Veer is a Good Samaritan initiative notified under Section 134A of the Motor Vehicles (Amendment) Act, 2019, aimed at protecting citizens who help road accident victims during the Golden Hour—the critical first hour after an accident when timely medical care can save lives. Key Features 1. Legal Protection 2. Right to Anonymity 3. Limited Police Interaction 4. Hospital Safeguards 5. Recognition & Incentives
Olive Ridley Sea Turtles
Context: With the nesting season underway, wildlife authorities have established sea turtle hatcheries along the Chennai coast to safeguard eggs and enhance hatchling survival, especially from threats like predation, artificial lighting, and human disturbance. What is it? The Olive Ridley sea turtle is among the smallest and most abundant sea turtle species, named after its olive-green, heart-shaped carapace (shell). It is globally renowned for its spectacular mass nesting phenomenon known as arribada, during which thousands of females nest simultaneously on selected beaches. Habitat and Distribution Global Range Indian Context Marine Habitat Conservation Status
Suryastra Rocket System – Indian Army Induction
Context: The Indian Army has signed a ₹293-crore emergency procurement contract with NIBE Ltd., in collaboration with Elbit Systems, for the induction of the Suryastra rocket system—a long-range universal rocket launcher with strike capabilities of up to 300 km. About Suryastra Rocket System Suryastra is India’s first indigenous universal multi-calibre long-range rocket launcher system, designed for precision surface-to-surface strikes at 150 km and 300 km. It can integrate multiple rocket and missile types on a single launch platform, offering both saturation and precision firepower. Origin & Technology Aim of Induction
Indian Army to Deploy Ramjet-Powered Shells for 155 mm Artillery
Context: The Indian Army is set to become the first armed force in the world to operationally deploy ramjet-powered artillery shells for its 155 mm artillery guns, marking a major leap in long-range conventional firepower. What is it? Ramjet-powered artillery shells are advanced 155 mm projectiles equipped with an air-breathing ramjet propulsion module. After being fired from a conventional artillery gun, the ramjet sustains thrust in flight, significantly extending the shell’s range without altering the gun system itself. About Ramjet Technology A ramjet is a type of air-breathing jet engine with no moving parts, designed to operate efficiently at supersonic speeds. Key advantage: Much higher efficiency and range compared to rocket-based propulsion for artillery shells.
