Source: TH Context: The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a ₹1 crore penalty on Reliance General Insurance Company for violations related to commission payments, outsourcing norms and corporate governance guidelines. Key Findings by IRDAI Sections & Norms Violated Insurance Act, 1938 Section 40 – Limits on Commission Section 102(b) – Penalty for Contravention IRDAI (Outsourcing of Activities by Indian Insurers) Regulations IRDAI Corporate Governance Guidelines IRDAI (Payment of Commission) Regulations
SEBI Simplifies Procedure for Issuing Duplicate Securities
Source: ET Context: The Securities and Exchange Board of India (SEBI) has simplified and standardised the process for issuance of duplicate securities certificates, doubling the threshold for simplified documentation from ₹5 lakh to ₹10 lakh to ease investor compliance. Key Changes Announced by SEBI Key Changes Introduced by SEBI
SBI launches YONO 2.0
Source: ET Context: India’s largest public sector bank, State Bank of India (SBI), has launched YONO 2.0, an upgraded version of its flagship digital banking platform YONO (You Only Need One). What is YONO 2.0? YONO 2.0 is a fully integrated digital banking ecosystem that combines: into a single, seamless platform with a common KYC and login framework. Key Features of YONO 2.0 1. Unified Banking Experience 2. Common KYC & Re-KYC Framework 3. Enhanced Security Architecture 4. Improved User Interface 5. Multilingual & Inclusive Design 6. Financial Super-App Model
Canara Bank launches Canara ai1Pe – UPI Application
Context: Public sector lender Canara Bank has launched Canara ai1Pe, a new Unified Payments Interface (UPI) application aimed at enabling simple, secure, and inclusive digital payments. About Canara ai1Pe Key Features of Canara ai1Pe 1. Core UPI Payment Functions Users can link multiple bank accounts and select the preferred account at the time of payment. 2. Security & Authentication Users already registered on other UPI apps can start using ai1Pe without repeating full onboarding. 3. Ease of Access 4. Delegated Payments (UPI Circle)
Insurers to Move Away from One-Size-Fits-All Models
Source: TOI Context: Insurance companies in India are set to change how they price policies and manage risk as the Insurance Regulatory and Development Authority of India (IRDAI) introduces two major reforms from April 2026. What Are the Two Big Changes? 1. Risk-Based Capital (RBC) Norms What are RBC Norms? Risk-Based Capital (RBC) norms require insurers to maintain capital proportional to the actual risks they assume, instead of a flat, one-size-fits-all solvency requirement. In India, RBC norms are being introduced by Insurance Regulatory and Development Authority of India (IRDAI). Why Were RBC Norms Needed? Under the earlier framework: RBC corrects this distortion by linking capital → risk exposure. 2. Ind AS 117 (India’s version of IFRS 17) What is Ind AS 117? Ind AS 117 is India’s accounting standard for insurance contracts, aligned with IFRS 17, issued by the International Accounting Standards Board (IASB).It replaces the existing Ind AS 104, bringing uniformity, transparency, and comparability in insurance accounting. Why Was Ind AS 117 Introduced? Earlier accounting allowed insurers to: Ind AS 117 corrects this by aligning revenue recognition with insurance service delivery.
IRDAI Gets More Powers to Prevent Mis-selling
Source: TOI Context: The Insurance Regulatory and Development Authority of India (IRDAI) has been granted enhanced statutory powers to curb insurance mis-selling through provisions in the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, recently cleared by Parliament. Key Objective of the Amendments Major Regulatory Powers Granted to IRDAI 1. Commission Disclosure & Regulation This marks a shift from opaque pricing to informed consumer choice. 2. Stronger Conflict-of-Interest Norms (Bancassurance Focus) 3. Tighter Control Over Intermediaries
India’s IPO Market Hits Record Highs
Context: India’s IPO market has touched historic highs, raising about ₹3.8 lakh crore through 701 IPOs during 2024–25, surpassing the total capital raised in the previous four years combined. This reflects strong investor confidence, deepening capital markets, and robust corporate fundraising. About Initial Public Offering (IPO) An Initial Public Offering (IPO) is the process by which a private company offers its shares to the public for the first time, raising equity capital and becoming a publicly listed company on stock exchanges such as National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE). Types of IPOs in India Fixed Price Issue Book Building Issue (Most common in India) Stages of an IPO Process 1. Preparation & Due Diligence 2. DRHP Filing 3. Pricing & Bidding 4. Basis of Allotment 5. Listing
New Soil-dwelling Micro-arthropod Species Neelus sikkimensis
Context: In December 2025, scientists from the Zoological Survey of India (ZSI) announced the discovery of a new soil-dwelling micro-arthropod species, Neelus sikkimensis, from the high-altitude regions of Sikkim.This marks the first record of the genus Neelus in India. The discovery was published in the Journal of the Entomological Research Society. Key Highlights of the Discovery Key Features of Neelus sikkimensis Ecological Significance
Agriculture Infrastructure Fund (AIF)
Context: The Centre is considering a major expansion of the Agriculture Infrastructure Fund (AIF) by allocating over ₹1 trillion in the upcoming Union Budget to strengthen post-harvest infrastructure and reduce crop losses, especially in perishable produce. About the Agriculture Infrastructure Fund (AIF) The Agriculture Infrastructure Fund (AIF) is a Central Sector Scheme launched by the Government of India to provide medium- to long-term debt financing for the creation of post-harvest and community farming infrastructure. Objectives of AIF Key Features Key Features of the AIF 1. Fund Size 2. Eligible Projects AIF supports infrastructure such as: Eligible Beneficiaries
India’s Resolution on ‘Strengthening the Global Management of Wildfires’ Adopted at UNEA-7
Source: PIB Context: India’s resolution on “Strengthening the Global Management of Wildfires” was adopted at the 7th Session of the United Nations Environment Assembly (UNEA-7) held in Nairobi, Kenya. The adoption reflects broad international consensus on the growing global threat posed by wildfires and the need for coordinated international action. Why Wildfires Are a Global Concern India cited UNEP’s report “Spreading Like Wildfire”, which projects: These projections underscore wildfires as a long-term, climate-driven global risk. Key Provisions of the Resolution 1. Strengthened International Cooperation 2. Enhanced Regional and Global Collaboration 3. Knowledge Sharing and Capacity Building 4. Support for National and Regional Action Plans 5. Improved Access to International Finance United Nations Environment Assembly (UNEA) Established: Headquarters:
