Daily Current Affairs Quiz
31 January, 2026
National Affairs
1. BHARAT SAMPARK
Source: PIB
Context:
BHARAT SAMPARK – Engaging India’s Young Minds is an Economic Survey–linked outreach initiative that gained prominence after a Union Minister interacted with students at Indian Institute of Technology Delhi.
The initiative reflects the government’s effort to bridge policy-making with youth participation, especially in technology and innovation domains.
What is BHARAT SAMPARK?
BHARAT SAMPARK is a government outreach and engagement programme aimed at:
- Connecting India’s youth, particularly students of premier institutions, with
- Public institutions, policy processes, and nation-building initiatives.
Nodal Ministry: Ministry of Communications
Key Features of BHARAT SAMPARK
1. Youth–Government Interface
- Enables direct interaction between students and Union Ministers
- Discussions on:
- Technology and innovation
- Logistics and infrastructure
- Public sector careers and governance
- Promotes policy awareness and participatory governance
2. India Post Modernisation Focus
- Highlights transformation of India Post into a:
- Digitally enabled logistics and service platform
- Enabler of e-commerce, financial inclusion, and citizen services
- Demonstrates how legacy institutions can adapt to the digital economy
3. N-Gen (Next Generation) Campus Post Offices
Youth-centric postal facilities established within educational campuses:
- Digitally upgraded post offices
- Student-designed interiors
- Free Wi-Fi, QR-based services, digital payments
- Discounted Speed Post and parcel services for students
- Hands-on student engagement in postal operations and service delivery
4. Deep-Tech and Innovation Exposure
- Platform for students to showcase cutting-edge research, including:
- Tactile Internet
- Haptic robotics
- Supports India’s emerging deep-tech ecosystem
- Aligns with the vision of an “Internet of Skills”
2. National Commission for Women marks its 34th Foundation Day
Source: PIB
Context:
The National Commission for Women (NCW) marked its 34th Foundation Day at Bharat Mandapam, New Delhi, reaffirming its commitment to women’s rights, protection, and empowerment.
What is the National Commission for Women (NCW)?
- NCW is a statutory, apex body of the Government of India.
- Mandated to protect, promote, and safeguard the constitutional and legal rights of women.
- Functions as:
- Watchdog body
- Advisory authority
- Grievance redressal mechanism on women-related issues.
Establishment and Legal Basis
- Established: 31 January 1992
- Statutory Basis: National Commission for Women Act, 1990 (Act No. 20 of 1990)
- Nature: Statutory body (not a constitutional body)
Composition of the NCW
(As per Section 3 of the NCW Act, 1990)
- Chairperson: Nominated by the Central Government; committed to the cause of women
- Five Members: From fields such as:
- Law
- Administration
- Education
- Health
- Social welfare
- Labour
- Women’s movements
- Mandatory Representation:
- At least one member from SC
- At least one member from ST
3. India’s First Mega Shipbuilding Cluster in Tamil Nadu
Source: ET
Context:
On 29 January 2026, the Government of India (GoI), in collaboration with the Government of Tamil Nadu, established NSHIP—a Special Purpose Vehicle (SPV)—to develop India’s first mega shipbuilding cluster at Thoothukudi, Tamil Nadu.
About the NSHIP SPV
- Name: National Shipbuilding & Heavy Industries Park (NSHIP)
- Type: Special Purpose Vehicle (SPV)
- Joint Venture:
- V.O. Chidambaranar Port Authority – 50%
- State Industries Promotion Corporation of Tamil Nadu (SIPCOT) – 50%
Background
- Formed pursuant to an MoU signed in September 2025 in the presence of Sarbananda Sonowal, under the Ministry of Ports, Shipping and Waterways (MoPSW).
Shipbuilding Development Scheme (SbDS)
Overview
- Launched under a ₹69,725-crore maritime package (Oct 2025).
- Outlay for SbDS: ₹19,989 crore.
- Goal: Build domestic shipbuilding capacity to ~4.5 million GT annually by 2047 via infrastructure and technology upgrades.
Operational Framework
- Guidelines notified: 27 December 2025.
- Supports:
- Greenfield clusters (e.g., NSHIP-TN)
- Brownfield modernisation of existing shipyards
- India Ship Technology Centre at Indian Maritime University
Banking/Finance
1. New Consumer Price Index (CPI) Series
Source: The Indian Express
Context:
The Ministry of Statistics and Programme Implementation (MoSPI) has released details of a new Consumer Price Index (CPI) series, revising the base year from 2011–12 to 2023–24 and reducing the weight of food and beverages from ~46% to ~37%.
What is the New CPI Series?
The new CPI series is an updated framework for measuring retail inflation in India, featuring:
- Base year revision: 2011–12 → 2023–24
- Revised item weights based on the latest Household Consumption Expenditure Survey (HCES) 2023–24
- Expanded item coverage and improved methodology to reflect present-day consumption, including digital services
- CPI remains India’s headline inflation measure and the anchor for monetary policy under the inflation-targeting framework of the Reserve Bank of India
Organisations Involved
- Nodal Ministry: Ministry of Statistics and Programme Implementation
- Primary Data Source: Household Consumption Expenditure Survey (2023–24)
Historical Background of CPI in India
- CPI (Combined: Rural + Urban) introduced in 2011–12 as the primary inflation indicator.
- Earlier weights were based on 2011–12 consumption patterns, which became outdated due to:
- Rising incomes
- Urbanisation
- Shift towards services, housing, transport, and digital consumption
- Periodic base-year revision is a standard international practice to maintain accuracy and relevance.
Methodology / Criteria of the New CPI Series
The revised CPI is constructed using:
- HCES 2023–24 consumption shares (rural and urban)
- Expanded market coverage:
- 1,465 rural markets and 1,395 urban markets across 434 towns
- Addition of 12 online markets in large cities
- Item basket expansion: 299 → 358 items
- Improved House Rent Index (HRI):
- Rent coverage extended to rural areas
- Exclusion of employer-provided accommodation
- Inclusion of e-commerce prices:
- Airfares
- OTT subscriptions
- Telecom plans
Key Features of the New CPI Series
1. Reduced Food Weight
- Food + beverages weight falls from ~46% to ~36.5–36.75%
- Reflects Engel’s Law: as incomes rise, the share of food in total expenditure declines
2. Higher Housing Weight
- Housing (including water, electricity, gas) rises from ~7% to ~17.66%
- Captures rising urban housing and utility costs
3. Greater Services Representation
- Higher weights for transport, health, education, and communication
- Mirrors India’s services-led consumption transition
4. Digital Economy Inclusion
- Prices from OTT platforms, telecom plans, and online airfares included
- Improves relevance in a digitally integrated economy
5. Lower Inflation Volatility
- Reduced sensitivity of headline inflation to weather-driven food shocks
- Smoother inflation signals for policy decisions
2. Slice Introduces India’s First UPI-Centric Digital Banking Ecosystem
Source: BS
Context:
On 29 January 2026, Slice Small Finance Bank (Slice SFB) launched a UPI-centric digital banking ecosystem, introducing three innovative products:
- Repo-linked Digital Savings Account
- UPI-Integrated Credit Card
- Fully Digital Fixed Deposits (FDs)
Financial Products Launched
1. Digital Savings Bank Account (Repo-Linked)
- First in India to be linked to 100% of the Repo rate of the Reserve Bank of India.
- Interest calculation: Daily calculation and daily credit → real-time growth.
- Key features:
- Transparent, market-linked returns
- No minimum balance requirement
- Instant liquidity
- Fully digital onboarding
- UPI-enabled for everyday payments
2. UPI-Integrated Credit Card
- Scan & Pay: Enables payments at any UPI-enabled merchant using an approved credit limit, bypassing traditional card rails.
- Key features:
- Up to 3% cashback based on usage
- “Slice in 3”: No-cost EMI conversion for purchases above ₹2,000
- Weekly rewards via Slice Sparks
- Zero fees: No joining, renewal, or annual fees
- Fully digital onboarding and usage
- Significance: Blurs the line between UPI and credit cards, deepening credit penetration via UPI.
3. Digital Fixed Deposits (FDs)
- Fully digital: Opened and managed entirely via the app.
- Interest rate: Up to 7.25% per annum.
- Deposit insurance: Covered up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC) under the Ministry of Finance.
- Significance: Combines safety of insured deposits with digital convenience.
Background
- In July 2025, Slice opened India’s first UPI-powered physical bank branch in Bengaluru, Karnataka, marking a hybrid digital-physical banking model.
About Slice Small Finance Bank (Slice SFB)
- CEO: Rajan Bajaj
- Headquarters: Guwahati, Assam
- Established: 2016
- Type: Small Finance Bank with a strong digital-first and UPI-led approach.
3. Paysharp Secures PA-P Licence from RBI
Source: BS
Context:
In January 2026, fintech startup Paysharp received the Payment Aggregator–Physical (PA-P) licence from the Reserve Bank of India (RBI).
Earlier, in August 2024, Paysharp had obtained the Payment Aggregator–Online (PA-O) licence.
What is the PA-P Licence?
- PA-P (Payment Aggregator–Physical) authorises an entity to aggregate and process in-person (offline) digital payments for merchants.
- With both PA-O and PA-P, Paysharp is now permitted to offer end-to-end payment acceptance across online and offline channels from a single, RBI-regulated platform.
Key Implications of the Licence
1. Unified Online–Offline Payments
- Enables a single, compliant stack for e-commerce and in-store payments.
- Improves settlement efficiency, compliance, and risk management.
2. Omnichannel Capability
- Serves merchants in-store, on-the-go, and online without dependence on third-party aggregators.
- Enhances merchant experience and reduces operational friction.
About Paysharp
- Established: 2019
- Headquarters: Chennai, Tamil Nadu
- Business Model: Flat-fee pricing—merchants pay a fixed charge per transaction.
- Client Base:
- Government and B2B enterprises
- NBFCs
- SMBs
- E-commerce merchants
4. UAE Central Bank Approves First USD-Backed Stablecoin
Source: News on Air
Context:
The Central Bank of the United Arab Emirates has approved the first USD-backed stablecoin (USDU) under its Payment Token Services Regulation, marking a significant step in regulating digital assets and blockchain-based payments.
What is the USD-Backed Stablecoin (USDU)?
- A USD-backed stablecoin is a cryptocurrency pegged 1:1 to the US dollar, designed to ensure price stability.
- The newly approved USDU is issued by Universal Digital, a crypto firm regulated by the Abu Dhabi Global Market (ADGM).
- It is the first foreign payment token issuer registered with the UAE central bank.
Key Features of the USDU Stablecoin
- Full USD backing: Each token is backed by equivalent US dollar reserves.
- Regulated framework: Approved under the UAE’s Payment Token Services Regulation.
- Blockchain-based settlement: Enables faster, cheaper, and transparent transactions.
- Cross-border utility: Useful for international transfers, trade settlement, and remittances.
- Financial innovation: Bridges traditional finance with regulated digital asset infrastructure.
5. NSE receives SEBI approval for IPO
Source: ET
Why in News?
The National Stock Exchange (NSE) has received a no-objection certificate (NOC) from the market regulator, clearing the way for it to initiate the process for its long-awaited Initial Public Offering (IPO).
What Does the NOC Mean?
- The NOC signifies that SEBI has no regulatory objection to NSE proceeding with IPO-related steps.
- It allows NSE to:
- Appoint merchant bankers and other intermediaries
- Finalise the Draft Red Herring Prospectus (DRHP)
- Begin formal IPO preparations, subject to compliance with listing norms
About NSE
- Established: 1992
- Nature: India’s largest stock exchange by trading volume
- Known for:
- Nationwide electronic trading
- Strong role in financial market modernisation
Facts To Remember
1. Shaheed Diwas / Martyrs’ Day 2026 – January 30
Observed across India to honour national martyrs and mark the 78th death anniversary of Mahatma Gandhi, assassinated on January 30, 1948, at Birla House (now Gandhi Smriti), New Delhi.
2. World Neglected Tropical Diseases Day 2026 – January 30
The 7th observance of WNTDD highlighted global efforts to eliminate neglected tropical diseases under the theme “Unite. Act. Eliminate,” aligned with WHO’s NTD Roadmap (2021–2030).
3. Kerala Budget FY27 Presented by FM K N Balagopal
Kerala’s Finance Minister presented a people-centric FY27 budget of about ₹2.40 lakh crore, focusing on social security, elderly welfare, women-centric schemes, and fiscal consolidation.
4. Andhra Pradesh Signs MoU with FICCI-FLO for Women Entrepreneurs’ Industrial Park
Andhra Pradesh signed an MoU with FICCI-FLO to establish a 30-acre Women Entrepreneurs’ Industrial Park in Amaravati to promote women-led MSMEs and industrial self-reliance.
5. Civil Aviation Minister Inaugurates Wings India 2026
Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu inaugurated Wings India 2026 at Begumpet Airport, Hyderabad, a biennial aviation event themed “Indian Aviation: Paving the Future,” hosted by the Ministry of Civil Aviation with Telangana government support.
6. Bharat Parv 2026 Inaugurated at Red Fort
Lok Sabha Speaker Om Birla and Union Minister Gajendra Singh Shekhawat inaugurated the six-day Bharat Parv 2026 at Red Fort, New Delhi, to showcase India’s cultural diversity, promote tourism, and support Aatmanirbhar Bharat.
7. 12th SIFFCY 2026 Begins in New Delhi
The 12th Smile International Film Festival for Children and Youth (SIFFCY) 2026 began in New Delhi, focusing on diversity, equity, and inclusion through socially relevant films, including works by disabled children.
8. 11th Ajanta-Ellora International Film Festival Commences
The 11th Ajanta-Ellora International Film Festival started in Chhatrapati Sambhajinagar, honouring composer Ilaiyaraaja with the Padmapani Award and opening with the Spanish film ‘Siret’.
9. Assam Launches Mukhya Mantrir Eti Koli Duti Paat Scheme
Assam Chief Minister launched the Mukhya Mantrir Eti Koli Duti Paat scheme to mark 200 years of the tea industry, providing ₹5,000 financial aid and welfare benefits to over 6 lakh tea garden workers.
10. Department of Posts Partners with Stock Holding Services Ltd
The Department of Posts signed an agreement with Stock Holding Services Limited to expand access to regulated capital market services such as demat accounts, mutual funds, and IPOs through post offices and digital platforms.
11. Sheikh Joaan bin Hamad Al Thani Elected OCA President
Sheikh Joaan bin Hamad Al Thani was elected as the new President of the Olympic Council of Asia during the OCA General Assembly held in Tashkent, Uzbekistan.
12. Sikkim Police Receives President’s Police Colour Award
Sikkim Police was conferred the President’s Police Colour (Nishaan) for exemplary service, becoming the 15th state and third in Northeast India to receive this honour.
13. Dr Chandrakant Lahariya Wins Wiley Research Heroes Prize 2025
Dr Chandrakant Lahariya became the first Indian to win the Wiley Research Heroes Prize 2025 for his impactful health policy research under the “Impact Beyond Academia” category.
14. Indian Army Signs MoU with IISc Bengaluru for Indigenous AI System
The Indian Army signed an MoU with IISc Bengaluru to jointly develop a fully indigenous AI-based system to address emerging digital and information warfare challenges.
15. Former BCCI President Inderjit Singh Bindra Passes Away
Former BCCI President Inderjit Singh Bindra passed away at 84, remembered for his role in bringing the 1987 Cricket World Cup to the subcontinent and his long service to Indian cricket.
