Source: PIB Context: According to the International Labour Organization’s (ILO) World Social Protection Report 2024–26, India’s social protection coverage has increased from 24.4% in 2021 to 48.8% in 2024, marking a significant expansion in welfare reach. The report credits key government initiatives for extending benefits such as health insurance, pensions, employment support, and food security to millions of citizens. As per the Ministry of Labour and Employment, nearly 920 million people (65% of the population) are now covered by at least one form of social protection through central government schemes. India’s progress has also contributed to a 5-percentage point rise in global social protection coverage, highlighting its international significance. Overview of the ILO Report Key Government Initiatives Expanding Social Security 1. Ayushman Bharat (AB-PMJAY) 2. Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) 3. eShram Portal 4. Atal Pension Yojana (APY) 5. Poverty Reduction Impact Social Protection Data Pooling Exercise Quick Takeaways Parameter Details Social protection coverage 2021 24.4% Social protection coverage 2024 48.8% People covered (2024) 920 million (65% of population) Key schemes Ayushman Bharat, PMGKAY, eShram, APY, PMJJBY, PMSBY Impact on poverty 24.8 crore people escaped multi-dimensional poverty Data pooling initiative Phase 1 covering 10 states; 200 crore records processed Global contribution +5 percentage points in worldwide social protection coverage
Asia Power Index 2025
Source: News on Air Context: In the 2025 Asia Power Index (API) published by the Australia-based Lowy Institute, India has been elevated from a “middle power” to a “major power”, ranking 3rd overall behind the United States and China. This milestone reflects India’s growing economic strength, military capability, and regional influence. Key Highlights: Strategic Implications
Crisil & AMFI Develop Market-Making Framework for AA–BBB Corporate Bonds
Source: FE Context: India’s corporate bond market is heavily skewed toward AAA-rated securities, leaving AA–BBB segments illiquid and unattractive despite their higher yields. To address this structural gap, Crisil and the Association of Mutual Funds in India (AMFI) are preparing a detailed proposal for a market-making framework for sub-AAA corporate bonds. The initiative aligns with consultations launched by the Department of Economic Affairs (DEA) under the Ministry of Finance. Why a Market-Making Framework Is Needed DEA’s Proposed Models The Department of Economic Affairs is reviewing two possible market-making structures: 1. Government-Backed Market Maker 2. Private Entities as Market Makers What the Framework Will Cover Why This Matters? According to industry participants: For Investors For Issuers
Puducherry Launches NABARD-Supported Smart Farmer ID Cards
Source: PIB Context: On 27 November 2025, the Puducherry Agriculture and Farmers’ Welfare Minister, Thiru K. Djeacoumar, launched Smart Farmer Identification Cards (SFIC) at the State Level Bankers’ Committee (SLBC) meeting. Supported by NABARD under its Farm Sector Promotion Fund, the initiative aims to digitize farmers’ records, streamline access to government schemes, and enhance transparency in agricultural financing. Key Highlights: About Smart Farmer ID Cards (SFIC) Significance
Saras Food Festival 2025
Source: News on Air Context: Union Minister for Rural Development and Panchayati Raj, Shivraj Singh Chouhan, will inaugurate the Saras Food Festival 2025 in Delhi. The festival showcases India’s diverse rural cuisine, women-led enterprises, and traditional food culture under the DAY-NRLM (Deendayal Antyodaya Yojana – National Rural Livelihoods Mission). Key Objectives Key Highlights:
CSIR-NAL Launches Production Version of Hansa-3 Trainer Aircraft
Source: TH Context: The CSIR-National Aerospace Laboratories (NAL), Bengaluru has unveiled the production version of the Hansa-3(NG) trainer aircraft, a fully indigenous two-seater designed to meet India’s growing demand for pilot training. This initiative strengthens India’s self-reliance in aerospace technology and reduces dependence on foreign trainer aircraft. Hansa-3(NG) Related Developments – SARAS Mk-2
Brown Butterflies Cause Flutter in Kolkata, Experts Cite Rains
Context: Kolkata has recently witnessed an unusual surge in brown butterflies, sparking curiosity and mild concern among residents. Experts confirm that this rise is a seasonal, climate-driven natural phenomenon, primarily influenced by prolonged monsoon rains and favourable ecological conditions. The species responsible for this sudden appearance is the Common Evening Brown (Melanitis leda). Common Evening Brown (Melanitis leda)
Dynamic Ground Water Resources of India, 2025 Report
Source: TOI Context: The Dynamic Ground Water Resources of India, 2025 report released by the Central Ground Water Board (CGWB) shows a slight improvement in India’s groundwater recharge. However, 25% of assessed units remain stressed, indicating persistent over-extraction and regional vulnerabilities. Key Findings of the 2025 Report Marginal Increase in Annual Recharge Assessment Coverage Stress Categories (2025) Regions Showing Decline in Recharge Significant drop in groundwater recharge recorded in: Hotspots of Over-Exploitation States/UTs with highest concentration of over-exploited and critical units: Causes States Showing Improvement in 2025 Significant increase in groundwater recharge seen in: Why Did Recharge Improve?
Scientists Raise Concerns Over ITPGRFA “Compromise Proposal”
Source: TH Context: A coalition of scientists, Scientists for Genetic Diversity, has voiced strong opposition to a “compromise proposal” discussed during the 11th session (GB11) of the International Treaty on Plant Genetic Resources for Food and Agriculture (ITPGRFA) in Lima, Peru. The proposal aims to enhance the Multilateral System (MLS), which governs global sharing of plant genetic resources. Key Highlights: Multilateral System (MLS) Scientists’ Concerns
RBI Imposes â‚ą91 Lakh Penalty on HDFC Bank
Source: TOI Context: The Reserve Bank of India (RBI) has imposed a penalty of ₹91 lakh on HDFC Bank following violations detected during its Statutory Inspection for Supervisory Evaluation (ISE 2024), which assessed the bank’s financial position as on March 31, 2024. The penalty is for non-compliance with the Banking Regulation (BR) Act, RBI directions, and related guidelines. Key Findings 1. Interest Rate Benchmark Violations 2. Unauthorized Business Activities 3. KYC Outsourcing Non-Compliance Norms / Provisions Violated by HDFC Bank When RBI carried out its Statutory Inspection for Supervisory Evaluation (ISE 2024) — as of 31 March 2024 — it found multiple violations by HDFC Bank. The key norms breached were:
