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)
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
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
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
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.
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
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?
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
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 regulatory framework for guarantees involving persons resident outside India. The regulations are issued under the Foreign Exchange Management Act, 1999 (FEMA). Who Must Comply? Key Provisions of the Regulations 1. Comprehensive Reporting Framework 2. Supersession of Earlier Circulars 3. Discontinuation of Quarterly Reporting 4. Amendments to Existing Master Directions Guarantee-related provisions amended in Master Directions covering: 5. Customer Awareness
Daily Current Affairs (DCA) 13 January, 2026
Daily Current Affairs Quiz13 January, 2026 International Affairs 1. Operation Hawkeye Context: The United States conducted large-scale airstrikes against ISIS targets in Syria under Operation Hawkeye, following an ISIS ambush in Palmyra that killed two U.S. soldiers and a civilian interpreter. What is Operation Hawkeye? About Syria 2. How U.S. Actions Under Donald Trump Violate International Law Source: TH Context: An opinion article by Thomas Mathew critiques recent U.S. military action against Venezuela, announced by U.S. President Donald Trump, arguing that it represents a serious violation of international law and reflects the breakdown of the global balance-of-power system. Core Principles of International Law Involved What Happened? Questioning the Official Justification Violation of International Law Breakdown of the Balance of Power Consequences of Unipolarity Implications for India 3. India Likely to Join U.S.-Led “Pax Silica” Initiative Source: IE Context: India will be invited next month to join “Pax Silica”, a U.S.-led multilateral initiative focused on cooperation in semiconductors, critical minerals, and artificial intelligence, according to incoming U.S. Ambassador to India Sergio Gor. Pax Silica Pax Silica is a U.S.-led multilateral initiative for cooperation in semiconductors, critical minerals, and artificial intelligence (AI), aimed at strengthening secure, resilient, and trusted technology supply chains amid geopolitical and trade disruptions. National Affairs 1. Indusfood 2026 Context: Union Minister Chirag Paswan (Ministry of Food Processing Industries) inaugurated the 9th edition of Indusfood in Greater Noida, Uttar Pradesh, in January 2026. About Indusfood 2026 Major Initiatives Launched 2. 3rd Indian Lighthouse Festival (ILF) 2026 Source: PIB Context: The 3rd edition of the Indian Lighthouse Festival (ILF 3.0) was held from January 9–10, 2026, at MGM Park, Visakhapatnam, Andhra Pradesh. About the Festival Key Highlights 3. Indian Army Conducts First MCF Exercise ‘Sanjha Shakti’ Source: PIB Context: The Indian Army conducted its first-ever Military–Civil Fusion (MCF) exercise ‘Sanjha Shakti’ on January 8–9, 2026, at Diggi Range, Khadki Military Station, Pune, under the Southern Command. Key Details 4. PSLV Mission-C62 Source: TH Context: The Indian Space Research Organisation (ISRO) suffered a second consecutive setback as the PSLV-C62 mission failed after the rocket deviated from its intended flight path during the third stage, resulting in the loss of 16 satellites, including EOS-N1 (Anvesha). Mission Details EOS-N1 (Anvesha) 5. National Youth Day – Swami Vivekananda Jayanti (12 January) Context: Swami Vivekananda’s birth anniversary on 12 January is observed as National Youth Day. Droupadi Murmu paid tribute to his role in awakening India’s spiritual and national consciousness. About Swami Vivekananda 6. Viksit Bharat Shiksha Adhishthan Bill, 2025 Context: Viksit Bharat Shiksha Adhishthan Bill, 2025, introduced in the Lok Sabha on December 15, 2025, as a major reform aligned with the vision of Viksit Bharat 2047 and the National Education Policy 2020. Key Objectives Institutional Framework VBSA will function through three vertical councils: Major Changes Proposed Coverage 7. DRDO Successfully Tests Man-Portable Anti-Tank Guided Missile (MPATGM) Source: TOI Context: The Defence Research and Development Organisation (DRDO) successfully conducted a flight test of the indigenously developed third-generation Man-Portable Anti-Tank Guided Missile (MPATGM) on Sunday. About MPATGM 8. Article 6 of the Paris Agreement Context: An opinion article by Aparna Sharma highlights how Article 6 (A6) of the Paris Agreement, made fully operational at COP29, offers India a strategic opportunity to accelerate low-carbon growth, attract climate finance, and strengthen global partnerships. What is Article 6 of the Paris Agreement? India’s Entry into Article 6 Why Article 6 is Important for India Banking/Finance 1. Retail Inflation Rises to 3-Month High in December 2025 Source: TH Context: India’s retail inflation (CPI) rose to a three-month high of 1.33% in December 2025, remaining below the lower tolerance level of 2% set by the Reserve Bank of India. What is Retail Inflation? Retail inflation measures the rate at which prices of goods and services bought by households rise over time. In India, it is tracked using the Consumer Price Index (CPI). 2. SEBI’s Proposed Trading Rules Revamp Source: Mint Context: The Securities and Exchange Board of India (SEBI) has released a consultation paper proposing a major overhaul of trading regulations by simplifying legacy rules and delegating greater supervisory powers to stock exchanges. What is Being Proposed? Key Proposed Changes Shift in Regulatory Approach 3. RBI Tightens Digital Oversight on Compliance, Outsourcing and AI Context: The Reserve Bank of India (RBI) has signalled stricter supervisory scrutiny over banks’ digital operations, compliance practices, third-party outsourcing and use of artificial intelligence, as financial systems become faster, more interconnected and technology-driven. Three Key Regulatory Expectations 1. Continuous Compliance (Not Episodic) 2. Stronger Oversight of Third-Party Arrangements 3. Heightened Scrutiny of AI and Analytics 4. RBI’s Scale-Based Regulatory (SBR) Framework Source: BL Context: The Reserve Bank of India (RBI) is expected to release an updated list of ‘Upper Layer’ Non-Banking Financial Companies (NBFCs) by mid-2026, with a strong possibility of including large NBFCs promoted by banks or backed by strong corporate promoters. RBI’s Scale-Based Regulatory (SBR) Framework The Scale-Based Regulatory (SBR) Framework is a risk-based regulatory architecture introduced by the Reserve Bank of India for Non-Banking Financial Companies (NBFCs).It links the intensity of regulation to the size, complexity, and systemic risk posed by NBFCs. Objectives Four-Tier Classification under SBR 1. Base Layer (NBFC-BL) 2. Middle Layer (NBFC-ML) 3. Upper Layer (NBFC-UL) 4. Top Layer (NBFC-TL) Key Regulatory Features 5. IRDAI Scrutinises Insurers for Breaching Expense & Commission Limits Source: BL Context: The Insurance Regulatory and Development Authority of India (IRDAI) has sought explanations from 23 insurance companies—8 life insurers and 15 non-life insurers—for overshooting prescribed limits on expenses of management, mainly commissions. Background IRDAI (Expenses of Management, including Commission, of Insurers) Regulations, 2024 These regulations, notified by the Insurance Regulatory and Development Authority of India, lay down a new, flexible framework to regulate Expenses of Management (EoM) of insurers, including commission and distribution expenses. They replace the rigid product-wise expense caps with an overall EoM-based approach. Objectives Key Provisions 1. Expenses of Management (EoM) Concept EoM includes: Regulated through an overall EoM ratio, not individual product caps. 2. EoM Limits (Overall Ceiling) 3.
