Source: BS The Reserve Bank of India (RBI) has postponed the January 3, 2026 deadline for rolling out Phase-2 of faster cheque clearing under the Continuous Clearing and Settlement on Realisation (CCSR) system in the Cheque Truncation System (CTS). The move has been made under the Payment and Settlement Systems Act, 2007, which gives RBI the legal power to regulate payment systems and protect financial stability. What Is CCSR? What Was Planned in Phase-2? What Has Changed Now? Phase-1 Continues Revised CTS Timings RBI has also changed cheque processing timings: These changes give banks more operational flexibility. What Does This Mean for Customers?
Securities Markets Code, 2025 (SMC 2025)
Source: BS Context: The Securities Markets Code, 2025 (SMC 2025) is a major consolidation and simplification exercise in India’s securities regulation framework. The Code has been referred to the Parliamentary Standing Committee on Finance for detailed scrutiny. What the SMC 2025 Replaces The Code subsumes three existing laws: Together, these laws regulate securities markets, exchanges, depositories, and establish Securities and Exchange Board of India (SEBI) and the Securities Appellate Tribunal (SAT). Key Changes and Provisions 1. Composition & Governance of SEBI 2. Investigation & Adjudication 3. Penalties & Criminal Provisions 4. Linkage with PMLA 5. Market Infrastructure Institutions (MIIs) The Code formally recognises Market Infrastructure Institutions (MIIs), including: MIIs may: 6. Investor Protection Assessment
RBI to Infuse ₹3 Trillion Liquidity After Rupee Defence
Source: News on Air Context: The Reserve Bank of India (RBI) is set to inject around ₹3 trillion of durable liquidity into the banking system to offset the tightening impact of its recent foreign-exchange intervention aimed at supporting the rupee. Why Liquidity Tightened What RBI Has Done So Far This shifted liquidity from a persistent deficit (since mid-December 2024) to a surplus by end-March 2025. Open Market Operations (OMOs) OMOs are when the RBI buys or sells government bonds in the market. Why RBI does this How it works Simple example If banks don’t have enough money to lend, RBI buys bonds from them and gives them cash. Forex Buy–Sell Swaps RBI exchanges dollars and rupees with banks, with an agreement to reverse the deal later. Why RBI uses swaps How it works Simple example Think of it as RBI giving banks rupees temporarily, while holding dollars as security.
Gold is the most stable asset during global tensions: RBI study
Source: BS A study published in the monthly bulletin of the Reserve Bank of India (RBI) says gold is the safest asset during geopolitical stress, while crude oil is the most affected. The study was written by RBI staff with guidance from Poonam Gupta. RBI clarified that these are the authors’ views, not the official RBI position. What the study found Why gold stays strong India’s forex reserves (latest data) ETF (Exchange Traded Fund) An ETF is an investment product that tracks something and is bought and sold like a share on the stock market. What does an ETF track? An ETF can track:
Daily Current Affairs (DCA) 23 & 24 December, 2025
Daily Current Affairs Quiz23 & 24 December, 2025 International Affairs 1. 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 National Affairs 1. 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 2. 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 3. 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 4. 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 5. India–France Sign Pact Why in News? India and France have signed a defence cooperation agreement for the local production of advanced artillery and navigation systems, strengthening bilateral defence ties and supporting India’s push for indigenous defence manufacturing. Key Details of the Pact Systems Covered Under the Agreement 1. SIGMA 30N Inertial Navigation System 2. CM3-MR Direct Firing Sight 6. Internationalization of Higher Education in India: Prospects, Potential, and Policy Recommendations by NITI Aayog Source: TH Why in News? The NITI Aayog has released a report titled “Internationalisation of Higher Education in India: Prospects, Potential, and Policy Recommendations”, proposing a $10-billion national research fund, global scholarships, and regulatory reforms to address India’s widening student mobility imbalance. Major Recommendations of the NITI Aayog Report 1. Bharat Vidya Kosh – National Research Sovereign Wealth Fund 2. Vishwa Bandhu Scholarships & Fellowships 3. Erasmus+-like Mobility Programme 4. Regulatory & Institutional Reforms 5. Academic & Ranking Reforms India as a Global Education Hub 7. 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: 8. Indian Conservationist Vivek Menon Elected Chair of IUCN SSC (2025–2029) Indian wildlife conservationist Vivek Menon has been elected as the Chair of the IUCN Species Survival Commission (SSC) for the 2025–2029 term. About IUCN Species Survival Commission (SSC) The Species Survival Commission (SSC) is the largest and most influential scientific network of the International Union for Conservation of Nature (IUCN), focused on conserving species and halting biodiversity loss worldwide. Established Organisational Position 9. Great Indian Bustard (GIB) Source: TH Context: The Supreme Court of India has strengthened conservation safeguards for the critically endangered Great Indian Bustard (GIB) while revising power transmission alignments under the Green Energy Corridor (GEC) in Rajasthan and Gujarat.The move seeks to balance renewable energy expansion with species protection, especially in priority bustard habitats. About the Great Indian Bustard (GIB) The Great Indian Bustard (Ardeotis nigriceps) is one of the heaviest flying birds in the world and the state bird of Rajasthan.It is a flagship grassland species and a crucial indicator of ecosystem health in India’s arid and semi-arid landscapes. Conservation Status Population 10. Union Minister Manohar Lal Khattar Releases Toolkit for 10th Swachh Survekshan Source: PIB Context: On December 20, 2025, Union Minister Manohar Lal Khattar, Ministry of Housing and Urban Affairs (MoHUA), released the Toolkit for the 10th edition of Swachh Survekshan (SS) in Bhopal, Madhya Pradesh. Swachh Survekshan is recognized as the world’s largest urban cleanliness survey, conducted annually under the Swachh Bharat Mission–Urban (SBM-U). About the Toolkit Swachh Survekshan 2025–26 Theme
World Anti-Doping Agency (WADA) Testing Figures Report 2024
Source: IE Context: India has again topped the global doping chart, according to the World Anti-Doping Agency (WADA) Testing Figures Report 2024, marking the third consecutive year at No. 1 — a worrying trend for Indian sport. Key Data: Sport-Wise Highest Offenders: Global Comparison: India far exceeds doping totals of other major sporting nations:
AFMS Launches India’s First AI-driven Community Screening Programme for Diabetic Retinopathy
Source: News on Air Context: The Armed Forces Medical Services (AFMS) has rolled out India’s first artificial intelligence-enabled community screening programme for Diabetic Retinopathy, aimed at transforming early detection and prevention of diabetes-related blindness at scale. What is the initiative? A nation-first AI-powered screening system designed to detect and grade Diabetic Retinopathy at the community level. Developed through a collaboration between: Powered by the AI platform MadhuNetrAI. Aim of the programme Key Features
ISRO launches RESPOND Basket 2025
Source: TOI Context: The Indian Space Research Organisation (ISRO) has released RESPOND Basket 2025, inviting targeted research proposals from academic and research institutions across India to support its upcoming mission and technology requirements. What is RESPOND Basket 2025? A curated set of mission-oriented research problem statements, identified by ISRO and Department of Space (DoS) centres, designed to guide the academic community toward high-priority areas linked to India’s current and future space programmes. Issued by: Aim of the initiative
Vijay Diwas 2025
Source: TNIE Context: On Vijay Diwas 2025, President Droupadi Murmu inaugurated the ‘Param Vir Dirgha’ at Rashtrapati Bhavan — a dedicated gallery showcasing portraits of all 21 Param Vir Chakra (PVC) awardees. This installation replaces portraits of former British Aide-de-Camps, marking a significant step in India’s ongoing effort to remove colonial-era symbols and honour the nation’s own military heritage. About Param Vir Chakra (PVC) India’s highest military gallantry award, given for exceptional bravery, valour and supreme sacrifice in the presence of the enemy during wartime. Key features: Award criteria: About Aide-de-Camps (ADCs) An Aide-de-Camp is a commissioned military officer attached to high constitutional authorities such as the President, Governors, or Service Chiefs. Typical ranks:
India endorses Tianjin Declaration at SCO Summit 2025
Context: At the 2025 Shanghai Cooperation Organisation (SCO) Summit held in Tianjin, China, India joined other member states in adopting the Tianjin Declaration — a comprehensive outcome document affirming deeper cooperation in Artificial Intelligence governance, research, standards and capacity building across the Eurasian region. The declaration reinforces India’s stand on equitable and responsible AI, while expanding its multilateral technology engagement within the SCO framework. About the Tianjin Declaration An outcome document adopted by the SCO Council of Heads of States at the Tianjin Summit, laying out shared priorities on security, technology, economy and institutional reforms. About SCO (Shanghai Cooperation Organisation) A permanent intergovernmental regional organisation focused on security, economic cooperation and cultural ties across Eurasia.
