Daily Current Affairs Quiz14 January, 2026 National Affairs 1. Jharkhand Notifies PESA Rules Source: TOI Context: In January 2026, Jharkhand notified rules under the Panchayat (Extension to Scheduled Areas) Act, 1996 (PESA)—25 years after the state’s formation and nearly three decades after the law was enacted.This finally operationalises tribal self-governance in Jharkhand’s Fifth Schedule areas. What is PESA? Why Was PESA Needed? 1. Colonial Dispossession 2. Constitutional Gap 3. 73rd Constitutional Amendment (1992) 4. Bhuria Committee (1994–95) 5. Enactment of PESA (1996) Key Features of PESA 1. Gram Sabha as Supreme Authority 2. Protection of Customary Law & Culture 3. Control Over Natural Resources 4. Land Acquisition Safeguards 5. Local Economic & Social Regulation 2. BHASHINI Samudaye Context: BHASHINI Samudaye is being organised in New Delhi by the Ministry of Electronics and Information Technology (MeitY) to strengthen India’s Indian-language AI ecosystem through collaboration, open datasets, and ethical governance. What is BHASHINI Samudaye? BHASHINI Samudaye is a collaborative ecosystem platform under BHASHINI that enables: It brings together academia, startups, civil society, states, and technology developers. Institutional Framework 3. Man Portable Anti-Tank Guided Missile (MPATGM) Source: PIB Context: India has successfully flight-tested the third-generation Fire-and-Forget MPATGM with top-attack capability against a moving target, marking a major milestone in indigenous infantry anti-tank capability. What is MPATGM? The MPATGM is a third-generation, fire-and-forget, shoulder-launched anti-tank guided missile system designed to destroy modern main battle tanks (MBTs) and armoured vehicles under day-night and all-weather conditions. Developed by Aim To equip Indian infantry with a lightweight, high-precision and lethal anti-armour weapon that enhances battlefield survivability and lethality. 4. National Sports Governance Rules, 2026 Source: News on Air What is the development? On 12 January 2026, the Ministry of Youth Affairs and Sports (MYAS) notified the National Sports Governance (National Sports Bodies—NSBs) Rules, 2026 under the National Sports Governance Act, 2025. The rules aim to overhaul sports governance in India by mandating athlete inclusion, transparent elections, and ethical administration, aligned with Olympic Charter standards. Key Provisions of the National Sports Governance Rules, 2026 1. Athlete Representation (Sportspersons of Outstanding Merit—SOMs) 2. Eligibility Criteria for SOMs 3. Tiered Classification of SOMs 4. Governance & Ethics About the Ministry of Youth Affairs and Sports (MYAS) Banking/Finance 1. PFRDA Forms Panel for Assured Payout Framework under NPS Context: The Pension Fund Regulatory and Development Authority (PFRDA) has constituted a 15-member expert committee to frame guidelines and regulations for assured pension payouts under the National Pension System (NPS). Problem with the current NPS The initiative aims to enhance retirement income security, not just corpus accumulation. Mandate of the Committee 1. Assured Payout Regulations 2. Risk Management Framework 3. Transition from Accumulation to Decumulation 4. Market-Based Guarantees 5. Tax Implications 2. Tripura Gramin Bank Introduces India’s First Solar-Powered ATM Van Context: In January 2026, Tripura Gramin Bank (TGB) became the first Regional Rural Bank (RRB) in India to introduce India’s first fully solar-powered mobile ATM van, named “TGB on Wheels”. About ‘TGB on Wheels’ Background Services Offered Sustainability Aspect Recognition 3. Unified Regulatory Framework for Crypto Exchanges Context: Ahead of Union Budget 2026–27, the Ministry of Finance is in discussions with the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI) to put in place a formal regulatory framework for crypto exchanges in India. Proposed Regulatory Architecture 1. SEBI as the Primary Regulator Addresses the long-standing gap of no single market regulator for crypto assets. 2. RBI’s Role Reflects RBI’s mandate over external sector stability and monetary sovereignty. Why Is This Needed? Fragmented Oversight at Present Currently, crypto regulation is spread across agencies: Policymakers view this fragmentation as a major enforcement and monitoring weakness. What are Crypto Exchanges? Crypto exchanges are digital platforms where users can buy, sell, trade, or hold cryptocurrencies (e.g., Bitcoin, Ether). They act as marketplaces, matching buyers and sellers, and often provide wallets, custody, and analytics. Types of Crypto Exchanges Objectives of the Proposed Framework 4. RBI May Introduce Licence Regime for Corporate Business Correspondents Source: BS Context: The Reserve Bank of India (RBI) is considering a licensing framework for corporate Business Correspondents (BCs). This would bring fintech firms operating as corporate BCs under direct RBI regulation, instead of the current model where sponsor banks bear responsibility for BC actions. Who are Business Correspondents? Business Correspondents (BCs) are agents appointed by banks to deliver basic banking and financial services at the grassroots level, especially in rural, remote, and underserved areas, where setting up brick-and-mortar branches is not viable. They act as the last-mile interface between banks and customers. Who Regulates BCs? Who Can Act as BCs? Services Provided by BCs Current Regulatory Arrangement This fragmented oversight has created regulatory gaps. 5. RBI Proposes to Resume UCB Licensing Source: IE Context: The Reserve Bank of India (RBI) has released a Discussion Paper proposing to resume licensing of Urban Co-operative Banks (UCBs)—a process paused since 2004. The paper outlines minimum capital, asset quality, governance, and footprint criteria, to be followed by draft norms after public consultation. Key Proposals 1. Minimum Eligibility Thresholds (Context: Average CAR of existing UCBs is ~18%; 92% have CAR >12%.) 2. Track Record & Financial Soundness 3. Size & Risk Rationale 4. Geographic Footprint 6. RBI Proposes Change in Computation of Owned Funds of NBFCs Source: BS Context: RBI has proposed amendments to how owned funds of Non-Banking Financial Companies (NBFCs) are calculated. Quarterly profits may now be included as part of free reserves, subject to conditions. Key Conditions Why does this matter? 7. World Bank Raises India’s FY27 Growth Forecast to 6.5% Source: BS Context: The World Bank has upgraded India’s GDP growth forecast for FY27 to 6.5%, from 6.3% projected in October 2025, citing stronger domestic demand and resilient exports. Key Drivers Behind the Upgrade 1. Resilient Domestic Demand 2. Export Performance Medium-Term Outlook 8. RBI Issues Foreign Exchange Management (Guarantees) Regulations, 2026 Source: News on Air Context: In January 2026, the Reserve Bank of India (RBI) issued the Foreign Exchange Management (Guarantees) Regulations, 2026, creating a comprehensive