Source: PIB Context: On 25 December 2025, Jitendra Singh, Union Minister of State (Independent Charge), Ministry of Personnel, Public Grievances and Pensions (MoPP&P), launched five transformative digital governance initiatives of the Department of Personnel and Training (DoPT) on the occasion of Good Governance Day, during the National Workshop on Good Governance Practices 2025 in New Delhi. Five Transformative Digital Initiatives Launched Compendium on Reservation for Ex-Servicemen (ESM) AI-Powered Recruitment Rules Generator Tool e-HRMS 2.0 Mobile App iGOT AI Platforms KDLL 2.0
PM-VIKAS Scheme
Source: PIB Context: In December 2025, the National Institute of Food Technology Entrepreneurship and Management, Kundli (NIFTEM-K) signed a Memorandum of Understanding (MoU) with the Ministry of Minority Affairs (MoMA) to implement the Pradhan Mantri Virasat Ka Samvardhan (PM-VIKAS) Scheme, aimed at skill development and livelihood generation for minority communities. What is PM-VIKAS? PM-VIKAS is a Central Sector Scheme implemented by the Ministry of Minority Affairs (MoMA) to provide skill development, entrepreneurship support and livelihood opportunities to minority communities across India. It integrates and subsumes earlier livelihood-oriented schemes of the Ministry to ensure convergence, scale and outcome-based delivery. Key Objective
India to Assume Chairpersonship of Kimberley Process
Source: TOI Context: In December 2025, it was announced that India will assume the Chairpersonship of the Kimberley Process Certification Scheme (KPCS) from January 1, 2026. Key Highlights: About the Kimberley Process (KP)
India Successfully Test-Fires ‘K-4’ Missile from INS Arighaat
Context: In December 2025, India successfully test-fired the ‘K-4’ Submarine-Launched Ballistic Missile (SLBM) with a range of ~3,500 km from INS Arighaat, India’s second nuclear-powered ballistic missile submarine (SSBN), in the Bay of Bengal, off the coast of Visakhapatnam, Andhra Pradesh. Key Highlights: About K-4 SLBM
Insurance Regulatory and Development Authority of India fines Reliance General Insurance ₹1 crore
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
