Source: PIB Context: The Indian Navy will commission DSC A20, its first indigenously designed and built Diving Support Craft (DSC), at Kochi, marking a significant milestone in India’s naval self-reliance and underwater operational capability. About Diving Support Craft (DSC) A20 DSC A20 is a purpose-built naval auxiliary vessel designed to support underwater diving operations, including inspection, repair and salvage activities in coastal and near-shore waters. Developed by Objectives
Foreign Exchange Management Act (FEMA), 1999
Context: Indian residents who ask friends, associates, or agents abroad to make initial payments (10–20%) for overseas purchases—such as artwork, luxury watches, or real estate—risk violating the Foreign Exchange Management Act (FEMA), even if the transactions are genuine. The Enforcement Directorate (ED) has recently issued notices highlighting this issue, invoking Section 3(a) of FEMA. Foreign Exchange Management Act (FEMA), 1999 The Foreign Exchange Management Act (FEMA), 1999 is India’s primary law governing foreign exchange transactions, external trade, and cross-border capital flows. It replaced the more restrictive Foreign Exchange Regulation Act (FERA), 1973. In Force Since Administered By Objectives of FEMA Key Features of FEMA 1. Civil Law Framework 2. Classification of Transactions FEMA divides forex transactions into two categories: a) Current Account Transactions b) Capital Account Transactions Regulatory Powers under FEMA Reserve Bank of India (RBI) Central Government Directorate of Enforcement (ED) Key Concepts under FEMA Difference Between FEMA and FERA Aspect FERA (1973) FEMA (1999) Approach Restrictive Facilitative Nature of law Criminal Civil Focus Conservation of forex Management of forex Presumption Guilty unless proven innocent Innocent unless proven guilty Economic context Closed economy Liberalised economy
SEBI Mandates Two Executive Directors to Strengthen Market Infrastructure Institutions (MIIs)
Source: ET Context: The Securities and Exchange Board of India (SEBI) has notified a comprehensive leadership and governance framework for Market Infrastructure Institutions (MIIs)—including stock exchanges, clearing corporations and depositories—to strengthen oversight, accountability and risk management. What Are MIIs? MIIs are systemically important entities that provide the core infrastructure for capital markets, such as: They play a critical role in ensuring market integrity, investor protection and financial stability. Key Features of the New SEBI Framework Mandatory Appointment of Two Executive Directors (EDs) SEBI has mandated that every MII must appoint: Both EDs will be full-time and will sit on the governing board of the MII. Transparent Appointment Process Strengthened Reporting and Oversight Revised Internal Reporting Structure
Centre Increases Minimum Support Price (MSP) for Copra
Source: BS Context: The Cabinet Committee on Economic Affairs (CCEA) has approved an increase in the Minimum Support Price (MSP) for copra for the 2026 market season, providing price assurance to coconut farmers amid rising input costs. Revised MSP for Copra (2026 Season) What is Copra? Coconut is a major plantation crop in Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Odisha and parts of the North-East. Copra converts perishable coconuts into a value-added, shelf-stable product. Copra is the dried kernel (white meat) of mature coconuts. It is obtained by drying fresh coconut kernels either: Once dried, copra becomes a storable and tradable agricultural commodity. What is Minimum Support Price (MSP)?
11th COSP to the UN Convention Against Corruption Held in Doha, Qatar
Context: The 11th edition of the Conference of the States Parties (COSP-11) to the United Nations Convention against Corruption (UNCAC) was held from December 15–19, 2025 in Doha, Qatar. COSP is the world’s largest global anti-corruption conference, serving as the main policy-making body of UNCAC. Hosting & Organisation Key Outcomes of COSP-11 Doha Declaration 2025 Resolutions Adopted
Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Act, 2025
Context: The President of India has granted assent to the Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India (SHANTI) Bill, 2025, which was passed during the Winter Session of Parliament, marking a major reform in India’s civil nuclear energy governance. About the SHANTI Act, 2025 A comprehensive and unified legislation governing India’s civil nuclear sector.It replaces: and creates a single integrated framework for: Aim Key Features of the Act 1. Opening the Nuclear Sector to Non-Government Entities 2. Revised Nuclear Liability Framework 3. Change in Operator’s Right of Recourse 4. Expanded Territorial Jurisdiction for Claims 5. Statutory Status to Atomic Energy Regulatory Board (AERB) 6. Atomic Energy Redressal Advisory Council
Aravalli Hills
Context: The Supreme Court of India has accepted the Centre’s new definition of the Aravalli Hills, restricting legal protection to landforms rising 100 metres or more above local relief.This has triggered the nationwide #SaveAravalli campaign, with environmental experts and civil society warning of large-scale ecological risks. About the Save Aravalli Campaign About Aravalli Hills The Aravalli Hills are among the oldest mountain ranges in the world, stretching ~800 km from Gujarat–Rajasthan to Haryana–Delhi. Though modest in height, they are ecologically critical to north-western India. Ecological & Economic Significance Ecological Shield Water Security Climate Resilience
Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025
Source: PIB Why in News? The President of India has granted assent to the Viksit Bharat–Guarantee for Rozgar and Ajeevika Mission (Gramin) Act, 2025, passed during the Winter Session of Parliament.The Act replaces the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), 2005. About Viksit Bharat–G RAM G Act, 2025 A revamped statutory framework for rural employment, repositioning wage employment as an integrated instrument for: Aligned with the Viksit Bharat @2047 vision. Aims Key Features 1. Increased Guaranteed Employment 2. Centrally Sponsored Scheme with Revised Funding Pattern 3. Normative Allocations & State Responsibility 4. Pause During Peak Agricultural Seasons 5. Decentralised & Integrated Planning 6. Focus on Priority Development Domains Works restricted to four thematic areas: 7. Strengthened Governance & Monitoring 8. Technology-Driven Transparency & Accountability
Rapid Financing Instrument (RFI)
Why in News? The International Monetary Fund (IMF) has approved USD 206 million in emergency assistance for Sri Lanka under the Rapid Financing Instrument (RFI) following the devastation caused by Cyclone Ditwah. About the Rapid Financing Instrument (RFI) The Rapid Financing Instrument (RFI) is an IMF emergency lending facility that provides quick, low-access financial assistance to member countries facing urgent balance-of-payments (BoP) needs, particularly during: Aim
India–Netherlands MoU on National Maritime Heritage Complex (NMHC)
Context: India and the Netherlands have signed a Memorandum of Understanding (MoU) to cooperate on the development of the National Maritime Heritage Complex (NMHC) at Lothal, Gujarat. About National Maritime Heritage Complex (NMHC) The NMHC is a flagship cultural and heritage initiative of the Ministry of Ports, Shipping and Waterways, aimed at presenting India’s 4,500–5,000-year-old maritime legacy through a world-class museum and cultural complex. About Lothal Excavation: Key Importance:
