Daily Current Affairs (DCA) 10 January, 2026

Daily Current Affairs Quiz
10 January, 2026

International Affairs

1. Greenland

Context:

The proposal by US President Donald Trump to acquire Greenland has resurfaced, drawing strong opposition from Denmark and European allies due to sovereignty concerns and international law constraints.

Geography & Location

• Greenland (Kalaallit Nunaat): World’s largest island.
• Location: North Atlantic Ocean, largely within the Arctic Circle, between North America and Europe.

Political Status

• Self-governing territory within the Kingdom of Denmark.
• Denmark controls defence, foreign affairs, and currency.
• Greenland’s elected government handles domestic affairs under the Self-Rule Act, 2009, recognizing the island’s right to self-determination.

Geological Features & Resources

• Greenland Ice Sheet: Covers ~80% of the island; second largest after Antarctica; important for climate change studies.
• Ancient shield rocks: Part of the Canadian Shield, mainly Precambrian rocks.
• Fjords and glaciers: Deep coastlines with fast-moving glaciers like Jakobshavn Glacier.
• Resource potential: Rich in rare earth elements, critical minerals, and hydrocarbons.

Legal Constraints

• UN Charter (Article 2(4)) prohibits acquiring territory by threat or use of force.
• Territorial transfer requires free, voluntary consent of:
  • Denmark (sovereign state)
  • People of Greenland
• Annexation or coerced cession is illegal under modern international law.

National Affairs

1. US Considers 500% Tariffs on Russian Oil Buyers

Source: TH

Context:

The United States is reviewing a bipartisan proposal—the Sanctioning Russia Act of 2025—that would allow tariffs of up to 500% on countries continuing to import Russian energy, including India. The move follows US President Donald Trump’s support for the bill, aimed at curbing Russia’s revenues funding its war in Ukraine.

Background

• Post-2022 Russia–Ukraine War, India increased imports of discounted Russian crude to safeguard energy security.
• The US and G7 imposed a $60/barrel price cap to limit Russian revenues without disrupting global oil markets.
• India, despite slightly reducing imports, remains a major buyer of Russian oil, prompting previous US penalty tariffs on Indian exports (25%, later 50%).
• The proposed bill escalates pressure by linking energy trade to secondary sanctions.

Key Features of the Sanctioning Russia Act, 2025

• Secondary Sanctions Framework:
  • Empowers the US President to impose tariffs and sanctions on countries buying Russian oil, gas, uranium, and petroleum products—even if not directly trading with the US.
• Punitive Tariff Provision:
  • Tariffs of up to 500% on goods and services imported from countries knowingly trading in Russian-origin energy products.
• Financial Isolation of Russia:
  • Authorizes property-blocking sanctions on Russian financial institutions and foreign entities transacting with them.
• Presidential Discretion:
  • President can determine tariff levels and targets, allowing flexibility in diplomacy.
• National Interest Waiver:
  • Tariffs can be waived for up to 180 days for specific countries, goods, or services if in the US national interest.
• Strategic Objective:
  • Designed to cripple Russia’s war-financing capacity and pressure third countries to reduce dependence on discounted Russian energy.

2. UIDAI Launches Aadhaar Mascot ‘Udai’

Source: News on Air

Context:

The Unique Identification Authority of India (UIDAI) has introduced ‘Udai’ (उदय), an official mascot for Aadhaar, aimed at making Aadhaar-related information more relatable, human-friendly, and accessible to citizens.

Purpose

Udai serves as a resident-facing communication companion, simplifying public understanding of Aadhaar services and promoting responsible usage. It is designed to enhance trust, improve clarity, and standardise communication for over a billion residents.

Organisation Involved

• Unique Identification Authority of India (UIDAI)

Key Features

• People-Centric Communication
  • Uses a friendly mascot to explain complex Aadhaar processes in a simple and engaging way.
• Wide Service Coverage
  • Covers Aadhaar functionalities such as updates, authentication, offline verification, selective data sharing, and adoption of new technologies.
• Participatory Creation
  • Selected through an open national contest with 875 entries and multi-tier evaluation, ensuring citizen participation.
• Inclusive Outreach
  • Designed to aid clarity across multiple languages, literacy levels, and digital access capabilities, making Aadhaar services more accessible to all residents.

3. PANKHUDI Portal

Source: TNIE

Context:

The Union Minister has launched PANKHUDI, an integrated digital platform designed to enhance ease of living for women and children by streamlining CSR partnerships and stakeholder collaboration.

Ministry Involved

• Ministry of Women and Child Development

Aim

• Strengthen coordination, transparency, and structured participation among government bodies, citizens, NRIs, NGOs, and corporates.
• Improve service delivery and outcomes for women and children nationwide.

Key Features

• Unified CSR Interface
  • Single platform for individuals, NRIs, NGOs, corporates, and government agencies to collaborate on social initiatives.
• Priority Themes
  • Focus on Nutrition, Health, Early Childhood Care & Education (ECCE), Child Welfare & Protection, and Women’s Safety & Empowerment.
• Flagship Mission Support
  • Digitally supports Mission Saksham Anganwadi & Poshan 2.0, Mission Vatsalya, and Mission Shakti through defined workflows.
• End-to-End Transparency
  • Online registration, proposal submission, approvals, and real-time tracking
  • Only non-cash contributions are allowed to ensure traceability.

4. India–AI Impact Summit 2026

Source: PIB

Context:

India has announced the India–AI Impact Summit 2026, scheduled for 19–20 February 2026 in New Delhi. This will be the first-ever global AI summit hosted in the Global South, positioning India as a hub for shaping inclusive and development-oriented artificial intelligence governance.

Purpose

The summit is a high-level multilateral forum, announced by the Prime Minister at the France AI Action Summit, aimed at advancing responsible, equitable, and inclusive AI cooperation, with a particular focus on Global South priorities.

Key Features

• Global South Leadership
  • First global AI summit hosted in a developing country.
  • Amplifies Southern perspectives in AI governance, often underrepresented in global AI discourse.
• Multilateral Continuity
  • Builds on G20 AI Principles, UN & GPAI resolutions, the African Declaration on AI, and the Hamburg Declaration on Responsible AI.
  • Ensures alignment with existing international AI norms while incorporating Global South priorities.
• Three Sutras Framework
  • People: Human-centric, inclusive, culturally sensitive, and trustworthy AI.
  • Planet: Environmentally responsible AI aligned with climate action, sustainability, and reduced energy footprint.
  • Progress: AI for equitable growth in health, education, governance, agriculture, and public services.
• Outcome-Oriented Approach
  • Focus on concrete deliverables, cooperative mechanisms, and implementation frameworks, rather than declarations alone.
  • Encourages actionable solutions for AI deployment in the Global South.
• Strategic Geopolitics of AI
  • Addresses challenges like employment disruption, algorithmic bias, and energy-intensive AI systems.
  • Frames AI within the rapidly evolving global technological and geopolitical order.

5. National IED Data Management System (NIDMS) Launched

Source: News on Air

Context:

Union Home Minister Amit Shah inaugurated the National Improvised Explosive Device Data Management System (NIDMS), a first-of-its-kind national digital platform that compiles data on all bomb blasts and IED incidents in India since 1999.

What is NIDMS?

NIDMS is a secure, centralised database designed to enable systematic analysis of bomb explosion-related incidents across the country. It integrates previously siloed datasets to support counter-terrorism investigations and strategic planning.

Key Objectives

• Strengthen investigation of terrorist incidents
• Enable trend analysis of explosions and IED usage
• Identify patterns, modus operandi, and inter-linkages between incidents
• Support data-driven counter-terror strategies

Institutional Framework

• Headquarters: National Security Guard (NSG) garrison, Manesar, Haryana
• Primary Authority: NSG (post-blast analysis lead force)
• Access: State Police, Central Armed Police Forces (CAPFs), and other investigating agencies

Core Features

• Comprehensive Coverage: Details of every blast/IED incident since 1999
• Signature Linking: Connects incidents based on:
  • Location
  • Type of explosion
  • Circuit and device used
• Pattern Recognition: Analyses explosives, circuits, and operational methods
• Single-Window Access: One-click access to data earlier scattered across case files
• Secure Sharing: Standardised and protected data exchange among agencies

6. DRDO Conducts Key Test for Hypersonic Missile Programme

Source: TOI

Context:

The Defence Research and Development Organisation (DRDO) has achieved a major milestone in India’s hypersonic missile development programme through a successful long-duration ground test of a critical propulsion component.

Key Development

• The Defence Research & Development Laboratory (DRDL), Hyderabad successfully conducted a long-duration ground test of an actively-cooled scramjet full-scale combustor.
• The test was carried out at DRDL’s state-of-the-art Scramjet Connect Pipe Test Facility.

Scramjet Technology

• Scramjet (Supersonic Combustion Ramjet) is an air-breathing engine
• Enables sustained flight at hypersonic speeds (Mach 5 and above)
• Uses supersonic combustion, allowing missiles to:
  • Exceed five times the speed of sound (over 6,100 kmph)
  • Maintain high speeds for extended durations without carrying onboard oxidiser

7. Battery Energy Storage Systems (BESS)

Source: Mint

Context:

With battery energy storage systems (BESS) emerging as a key pillar of India’s renewable energy transition—covering both grid-scale storage and electric mobility—the government is exploring a ₹500-crore allocation in the FY27 Budget to strengthen domestic testing, certification, and R&D infrastructure.

Battery Energy Storage Systems (BESS)

• BESS refers to systems that store electrical energy in batteries for later use, enabling electricity to be dispatched on demand.
• Key for grid stability, renewable energy integration, and electric mobility.

Objectives of the Initiative

• Set up National BESS Testing and Safety Centres under National Accreditation Board (NABL) or Bureau of Indian Standards (BIS)
• Establish certification centres to validate prototypes of advanced battery chemistries
• Support battery-pack level testing for electric vehicles (EVs)
• Promote R&D partnerships between industry, national laboratories, and Indian Institutes of Technology (IITs) with multi-year grants

Banking/Finance

1. SEBI Excludes Small Brokers from Technical Glitch Framework

Source: Mint

Context:

The Securities and Exchange Board of India (SEBI) has revised its technical glitch reporting framework, exempting smaller stock brokers from certain compliance requirements.

Key Highlights:

1. Scope and Applicability

• Applies only to stockbrokers with >10,000 registered clients
• Exempts ~60% of small and mid-sized brokers with limited trading technology dependence
• Stock exchanges will release the list of applicable brokers

2. Glitch Classification and Exemptions

Not all system issues are reportable:

• Excluded glitches:
  • Originating outside the broker’s trading architecture
  • Do not directly affect trading functionality
  • Have negligible impact on clients or trading services
• Provides immunity from penalties for problems beyond broker control

3. Reporting Requirements

• Preliminary incident report: Within 1 day (or next trading day if on a holiday)
• Root cause analysis report: Within 14 working days
• Reporting portal: Single common reporting platform replacing multiple reports to different exchanges
• Reporting timeline: Extended from 1 hour to 2 hours for initial reporting to exchanges and clients
• Trading holidays are accounted for in reporting timelines

2. Unclaimed Deposits

Context:

The Finance Ministry will review the progress made by Public Sector Banks (PSBs) in settling unclaimed bank deposits and assets at a high-level meeting scheduled for January 14.

Unclaimed Deposits

• Deposits in bank accounts that remain inactive for a specified period, usually 10 years, with no withdrawal or claim by the depositor.
• Transferred by banks to the Depositor Education and Awareness (DEA) Fund under the Government of India.

Regulatory Oversight:

• Ministry of Finance monitors the progress of Public Sector Banks (PSBs) in settling unclaimed deposits.
• PSBs are required to facilitate claims and report unclaimed funds regularly.
• Current Status of Unclaimed Deposits: ₹63,939 crore transferred by PSBs to the DEA Fund as of March 31, 2025

3. Offsite Monitoring and Surveillance (OSMOS)

Source: TH

Context:

The Reserve Bank of India (RBI) plans to strengthen offsite supervision of banks in real-time, moving beyond traditional onsite inspections. This was highlighted by RBI Governor Sanjay Malhotra at the Third Annual Global Conference of the College of Supervisors, Mumbai.

Current Supervision Framework

• RBI traditionally relies on onsite inspections under a risk-based CAMELS framework, covering:
  • Capital adequacy
  • Asset quality
  • Management quality
  • Earnings
  • Liquidity
  • Systems
• Inspections are annual or targeted, focusing on core risk areas

Offsite Monitoring and Surveillance (OSMOS)

• OSMOS is a technology-driven framework used by the Reserve Bank of India (RBI) for real-time, offsite supervision of banks.
• Enables continuous monitoring of banks’ financial health without waiting for periodic onsite inspections.

Purpose:

• Detect risks early in asset quality, liquidity, capital adequacy, and operational health.
• Shift focus from manual, periodic inspection to tech-enabled continuous supervision.
• Reduce systemic risks and improve regulatory efficiency.

Key Features of OSMOS

• Real-Time Offsite Surveillance:
  • Uses daily, weekly, and monthly automated data submissions by banks.
  • Covers financial statements, liquidity ratios, capital adequacy, and risk indicators.
• Data Analytics:
  • Advanced data analytics and dashboards help supervisors detect stress signals quickly.
  • Supports risk-based supervision and prioritizes attention on banks showing early signs of distress.
• Resource Optimisation:
  • About 70–75% of supervisory effort can be shifted from onsite inspection to offsite data analysis.
  • Reduces dependency on manual checks, enabling faster and informed decisions.
• SupTech & AI Integration:
  • Incorporates AI-enabled tools and supervisory technology (SupTech).
  • Improves predictive analytics for bank stress and potential failures.
• Continuous Risk Assessment:
  • Enables quarterly checks for weak banks, early detection of non-performing assets, and liquidity mismatches.
  • Enhances RBI’s ability to intervene proactively rather than reactively.
• Data Sources & Platforms:
  • RBI collects data from banks through multiple reporting platforms, now integrated for easier analysis.
  • Examples include: CRILC (Central Repository of Information on Large Credits), supervisory returns, and asset quality databases.

4. SEBI Tightens Merchant Banking Norms

Source: Mint

Context:

The Securities and Exchange Board of India (SEBI) has introduced stringent new regulations for merchant bankers, effective 3 January 2026, aimed at pruning inactive players, strengthening balance sheets, and reducing systemic risk.

Merchant Bankers

• Merchant bankers are financial intermediaries who assist companies in raising capital from the markets and provide corporate advisory services.
• Their services include issue management, underwriting, portfolio management, loan syndication, and corporate restructuring.

Regulator:

• Securities and Exchange Board of India (SEBI) regulates merchant bankers under SEBI (Merchant Bankers) Regulations.

New Regulatory Requirements

1. Net Worth and Liquid Net Worth
   • Category I:
     • Phase I (Jan 2027): Net worth ₹25 crore, Liquid Net Worth ₹6.25 crore
     • Phase II (Jan 2028): Net worth ₹50 crore, Liquid Net Worth ₹12.5 crore
   • Category II:
     • Phase I (Jan 2027): Net worth ₹7.5 crore, Liquid Net Worth ₹1.87 crore
     • Phase II (Jan 2028): Net worth ₹10 crore, Liquid Net Worth ₹2.5 crore
   • Firms failing Category I standards drop to Category II; failing Category II standards barred from new issues
2. Minimum Revenue Mandate
   • Category I: ₹25 crore over a rolling three-year period
   • Category II: ₹5 crore
   • Enforcement starts April 2029, with exceptions for pandemics or global recessions
3. Capital and Underwriting Norms
   • Definition of eligible liquid assets tightened, with haircuts on instruments (equities, govt securities)
   • Underwriting exposure capped at 20x liquid net worth
4. Staffing and Governance
   • Mandatory NISM Series-IX Merchant Banking Certification for all employees
   • Certification deadlines:
     • Existing staff: 2 Jan 2027
     • New staff: within 90 days of joining post 3 Jan 2026
   • Experience norms tightened; core activities cannot be outsourced beyond 90 days from 3 April 2026

5. Axis Finance Launches Vyapar Business Loan for MSMEs

Source: BL

Context:

On 8th January 2026, Axis Finance Limited (AFL), a wholly owned NBFC subsidiary of Axis Bank, launched the ‘Axis Finance Vyapar Business Loan’. It is a collateral-free credit solution aimed at Micro and Small Enterprises (MSEs) in semi-urban and rural India.

About Vyapar Business Loan

• Purpose: To support working capital needs, business expansion, and equipment upgrades for micro and small business owners.
• Loan Amount: Up to ₹10 lakh.
• Collateral: Not required.
• Repayment: Flexible tenures tailored to business needs.
• Process: Minimal documentation, data-driven underwriting, and quick disbursal.
• Target Segment: Shopkeepers, traders, service providers, and small entrepreneurs in retail, trading, and services sectors.

Other Initiative by Axis Bank

• Safety Centre on Mobile Banking App ‘Open’
• Features:
  • SMS authentication for transactions
  • Blocking Internet Banking, fund transfers, UPI, and Net Banking transactions
  • Restricting addition of new payees
  • Setting secure transaction limits to enhance digital banking security

Facts To Remember

1. Varanasi ‘Tent City’ Violated Environmental Norms: NGT

Context:

The National Green Tribunal (NGT) has ruled that the ‘Tent City’ set up on the Ganga riverbed in Varanasi, Uttar Pradesh, and inaugurated by the Prime Minister in January 2023, was established and operated in violation of environmental laws.

About IATA

• Global airline trade body representing over 360 airlines worldwide.
• Covers more than 80% of global air traffic.
• Sets industry standards, including safety, security, efficiency, and sustainability in air transport.

2. IREDA Secures ‘Excellent’ Rating in MoU Performance with MNRE

Organisation: Indian Renewable Energy Development Agency (IREDA), under Ministry of New & Renewable Energy (MNRE)
Achievement: “Excellent” rating, score: 96.42/100 for FY25 in MoU performance with MNRE.

3. MeitY Inaugurates ‘Param Shakti’ Supercomputing Facility at IIT Madras

Event: Inauguration of Param Shakti, state-of-the-art supercomputing facilityPlace: IIT Madras, Chennai, Tamil Nadu
Inaugurated By: Shri S. Krishnan, Secretary, MeitY

4. Book on Life of President Droupadi Murmu Released

Event: Release of biography ‘Agni Sarassulo Vikasinchina Kamalam Droupadi Murmu’
Date: January 2026
Place: Andhra University, Visakhapatnam, Andhra Pradesh
Author: Former MP Yarlagadda Lakshmi Prasad
Released By: Lakshmamma, a sanitation worker – symbolic of empowerment

5. Pravasi Bharatiya Divas (PBD) – 9 January

Event: Observance of Pravasi Bharatiya Divas (PBD)
Date: 9th January (biennial)
Purpose: Honors contributions of the overseas Indian community; marks Mahatma Gandhi’s return from South Africa in 1915
Organizer: Ministry of External Affairs (MEA)
Format: Biennial convention since 2015
Next Convention: 2027 (19th edition)

6. Ensure All Calls Are from 1600-Series Numbers: IRDAI to Insurers

The Insurance Regulatory and Development Authority of India (IRDAI) has directed all insurers to use only the 1600-number series for making service and transactional voice calls to policyholders and customers.

7. IBBI Launches IICA PGIP Website

IBBI Chairperson Ravi Mittal launched the Post Graduate Internship Programme (PGIP) website at IICA to strengthen skill-building in corporate governance and insolvency.

8. EXIM Bank Raises $1 Billion via USD Bonds

EXIM Bank issued dual-tranche U.S. dollar-denominated bonds, marking India’s first debt issuance of 2026 and supporting external financing and trade.

8. SBI Promotes India-Israel Trade in Rupees

SBI, India’s sole bank in Israel, facilitates bilateral trade in INR as FTA discussions advance, reducing currency risk and boosting trade autonomy.

9. Abhyuday-3 Technical Hindi Symposium

CSIR–NIScPR, IIT Indore, and IIT Jodhpur jointly organised Abhyuday-3 to promote technical knowledge and research communication in Hindi.

10. Siddaramaiah Becomes Longest-Serving Karnataka CM

Siddaramaiah surpassed Devaraj Urs’s record, becoming the longest-serving Chief Minister in Karnataka, highlighting continuity in leadership and social justice focus.

11. India’s GDP Projected at 6.9% for FY 2026-27

India Ratings & Research (Ind-Ra) projected 6.9% GDP growth for FY 2026-27, slightly lower than 7.4% in FY 2025-26, indicating moderated economic momentum.

12. Justice A. Muhamed Mustaque Sworn in as Chief Justice of Sikkim High Court

Justice Mustaque became the 24th Chief Justice of Sikkim High Court, with Governor Om Prakash Mathur administering the oath.

13. Steve Smith Becomes Second-Highest Run-Scorer in Ashes History

Australian batter Steve Smith surpassed Jack Hobbs to become the second-highest run-scorer in Ashes history during the 5th Test at Sydney.

14. Manoj Kothari Passes Away at 67

Former IBSF World Billiards Champion and Dhyan Chand Awardee Manoj Kothari passed away, leaving a legacy in cue sports and mentorship.