NATIONAL AFFAIRS

Innovation Hub: CoE & India’s First VRMS Launched in Jharkhand

Union Minister G Kishan Reddy (Ministry of Coal & Ministry of Mines) inaugurated a Centre of Excellence (CoE) and India’s first Virtual Reality Mine Simulator (VRMS) at IIT-Dhanbad (Indian School of Mines), Jharkhand.

• Centre of Excellence (CoE): Functions as a national research hub under the National Critical Minerals Mission (NCMM). It targets exploration, extraction, processing, and recycling of critical minerals.
  • Global Partners: Collaborates with the University of Cambridge (UK) and St. Petersburg University (Russia).
  • Domestic Infrastructure Support: Backed by IIT Gandhinagar, IIT-BHU (Varanasi), and the Centre for Process Innovation (CPI, UK).
• Virtual Reality Mine Simulator (VRMS): Developed alongside Coal India Limited (CIL) and its subsidiaries (NCL & ECL), it features a 360-degree immersive VR theatre that utilizes actual mining data to recreate real-world underground environments for safe training.
• Dugdha Solar Power Project: A 20-MW solar plant launched in the Bokaro region under Bharat Coking Coal Limited (BCCL). It generates 37.43 Million Units (MU) of green energy annually, offsetting 33,000 Metric Tonnes (MT) of carbon emissions.
• Integrated Command & Control Centre (ICCC): An AI-driven digital brain for BCCL to centrally monitor real-time mine sites, transport systems, and coal washeries.

Policy Reform: Government Notifies P&NG Rules 2025

The Ministry of Petroleum and Natural Gas (MoPNG), led by Union Minister Hardeep Singh Puri, notified the Petroleum and Natural Gas (P&NG) Rules, 2025 to boost ease of doing business.

• Single Licence System: Replaces the old multi-licence regime with a single comprehensive petroleum lease for operational ease.
• Extended Tenure: Grants lease lifespans up to 30 years, extendable to cover the full economic life of the production field.
• Decriminalization: Eliminates criminal penalties for operational violations. They are replaced by commercial penalties up to Rs 25 lakh, with an additional daily fine of Rs 10 lakh for continuous non-compliance.
• Time-Bound Approvals: Mandates that decisions on petroleum lease applications must be finalized within 180 days.
• Offshore Safety Regulator: Designates the Oil Industry Safety Directorate (OISD) as the primary authority for offshore safety audits and standard-setting.

DRDO Partners with Rashtriya Raksha University (RRU)

The Defence Research and Development Organization (DRDO) signed an MoU with Rashtriya Raksha University (RRU) to expand operational synergies in national security.

• Signatories: Dr. Chandrika Kaushik (DG, Production Coordination & Services Interaction, DRDO) and Prof. (Dr.) Bimal N. Patel (Vice Chancellor, RRU) in the presence of Defence Minister Rajnath Singh.
• Core Mandate: Joint development of internal security research, specialized security force training, and PhD/fellowship programs.
• System Lifecycles: RRU will provide policy and internal security training framework expertise, while DRDO assists in the maintenance, gap identification, and lifecycle management of hardware deployed by Central Armed Police Forces (CAPF).

Taxation: CBDT Launches NUDGE Campaign (AY 2025-26)

The Central Board of Direct Taxes (CBDT) deployed its data-driven "Non-Intrusive Usage of Data to Guide and Enable" (NUDGE) campaign for Assessment Year (AY) 2025-26.

• Mechanism: Employs advanced risk analytics and data matching to flag anomalies in Income-Tax Returns (ITRs) before issuing formal notices.
• Target Areas: Focuses on invalid Permanent Account Numbers (PANs), bogus deductions, and suspicious claims regarding donations made to Registered Unrecognised Political Parties (RUPPs).
• Key Timeline: Revised returns must be submitted by December 31, 2025. Returns updated on or after January 1, 2026, incur additional tax liabilities.
• Performance: The campaign has driven over 15 lakh revised ITRs for AY 2025-26 and over 21 lakh updated returns for past fiscal cycles (AY 2021-22 to 2024-25), yielding an extra Rs 2,500 crore in tax collections.

BANKING & FINANCE

Bancassurance Pact: Canara HSBC Life & Equitas SFB

Canara HSBC Life Insurance (a joint venture of Canara Bank and HSBC Insurance) partnered with Equitas Small Finance Bank (ESFB).

• Distribution Matrix: Integrates Canara HSBC Life’s protection, savings, annuity, and ULIP products into ESFB’s physical and digital banking channels across Tier 1, 2, and 3 locations.
• Strategic Goal: Aligned with the Insurance Regulatory and Development Authority of India (IRDAI) vision of "Insurance for All by 2047".

Axis Bank Rolls Out Digital Merchant Cash Advance Loans

Axis Bank introduced a first-of-its-kind unsecured credit facility specifically optimized for Micro, Small, and Medium Enterprises (MSMEs).

• Credit Bracket: Offers ticket sizes from Rs 2 lakh to Rs 20 lakh.
• Cash-Flow Underwriting: Evaluates eligibility through daily digital cash flows rather than traditional balance sheets or lengthy financial paperwork.
• Everyday Installment (EDI) System: Replaces rigid monthly EMIs with a dynamic, automated system that routes micro-repayments directly linked to the shopkeeper's daily sales volume.

PayNearby Granted TPAP License; Launches 'Saathi' App

Fintech company PayNearby secured a Third-Party Application Provider (TPAP) license from the National Payments Corporation of India (NPCI) to run direct UPI services.

• The Launch: Introduced the PayNearby Saathi application to extend financial inclusion via its retail merchant network and Digital Naaris.
• Ecosystem Scope: Delivers UPI-enabled savings accounts, credit options (personal, business, and gold loans), and retail investments like Fixed Deposits, Recurring Deposits, and Mutual Funds.
• Tech Integration: Built with the government-backed BHASHINI platform (AI speech-translation technology) allowing rural consumers to access services through real-time voice queries in their native regional dialects.

AWARDS & RECOGNITIONS

Ravi Deecee Conferred France's Knight of Arts & Letters

Ravi Deecee, Managing Director and CEO of Malayalam literary publishing powerhouse DC Books, was awarded the Chevalier de l’Ordre des Arts et des Lettres (Knight of the Order of Arts and Letters).

• Presenter: Presented by French Ambassador to India, Thierry Mathou, on behalf of the French Ministry of Culture.
• Key Contributions: Recognized for publishing Malayalam translations of legendary French thinkers and authors (such as Jean-Paul Sartre, Annie Ernaux, and David Diop) and hosting international authors via the Vagamon Writers Residency.
• Cultural Context: Deecee is the founder of the annual Kerala Literature Festival (KLF) in Kozhikode. France participated as the official Guest Nation at KLF, featuring major global figures like Nobel laureate Esther Duflo.

APPOINTMENTS & RESIGNATIONS

Saleem Ahmad Takes Charge as CMD of RVNL

• Appointment: Saleem Ahmad assumed office as the regular Chairman and Managing Director (CMD) of Rail Vikas Nigam Limited (RVNL), a Navratna CPSE.
• Tenure: Valid until his superannuation on April 30, 2029.
• Predecessor Lineage: Succeeds Sukhmal Chand Jain (who held the interim CMD charge following Pradeep Gaur's retirement). Ahmad previously served as Director (Projects) at NBCC (India) Limited and Executive Director at DMRC.

ACQUISITIONS & MERGERS

Competition Commission of India (CCI) Approvals

The corporate regulator cleared two major structural acquisitions:

1. Blackstone & Federal Bank Limited: Approved private equity firm Blackstone Inc. to acquire specific warrants worth Rs 6,196.5 crore (at Rs 227 per warrant) via its investment vehicle Asia II Topco XIII Pte Ltd. Upon conversion within an 18-month window, Blackstone will hold a 9.99% equity stake on a fully diluted basis.
2. Tata Steel & Tata BlueScope Steel: Approved Tata Steel Limited (TSL) to take complete 100% operational control of Tata BlueScope Steel Pvt. Ltd. TSL's downstream subsidiary will buy out the remaining 50% equity stake held by BlueScope Steel Asia Holdings Pty Ltd for USD 130 million (~Rs 1,100 crore).

SCIENCE & TECHNOLOGY

ISRO Places Heaviest Commercial Satellite 'BlueBird Block-2' in Orbit

ISRO executed a flawless dedicated commercial launch using its heaviest rocket, LVM3-M6 (Launch Vehicle Mark 3 - Mission 6), from the Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh.

• The Mission: Managed via NewSpace India Limited (NSIL) for US-based client AST SpaceMobile Inc. It marks the 6th operational flight of the LVM3 launch vehicle.
• The Payload: The BlueBird Block-2 communication satellite weighs 6,100 kg, breaking the record for the heaviest commercial payload launched by an Indian vehicle. It features a massive 223 square meter phased array antenna.
• Purpose: Part of a growing LEO satellite constellation designed to deliver direct 4G/5G cellular broadband space-connectivity straight to stock smartphones without custom hardware modifications.

DRDO Concludes Akash-NG User Evaluation Trials

The DRDO, alongside the Indian Army and Indian Air Force, completed the decisive User Evaluation Trials (UETs) of the Akash-New Generation (Akash-NG) surface-to-air missile system at the Integrated Test Range in Chandipur, Odisha.

• Trial Metrics: Successfully intercepted high-speed, low-flying, and long-range high-altitude aerial targets, proving full compliance with Preliminary Staff Qualitative Requirements (PSQR) before induction.

SPORTS

ACC Men’s U19 Asia Cup 2025

• Champion: Pakistan won its second Under-19 Asia Cup title by defeating India by 191 runs in the grand finale hosted in Dubai, UAE. Pakistan put up 347/8 and restricted India to 156 runs.
• Tournament MVP: Pakistan's Sameer Minhas claimed both Player of the Match and Player of the Tournament honors after scoring a blistering 172 runs off 113 balls in the final.

OBITUARY

Passing of Jnanpith Litterateur Vinod Kumar Shukla

Renowned modern Hindi author and poet Vinod Kumar Shukla passed away at 88 in Raipur, Chhattisgarh.

• Literary Highlights: Awarded the 59th Jnanpith Award, making him the first writer from Chhattisgarh to win India’s highest literary prize. He won the Sahitya Akademi Award in 1999 for Deewar Mein Ek Khidki Rehti Thi.
• Major Works: Novels like Naukar Ki Kameez and poetry anthologies starting with his 1971 debut Lagbhag Jai Hind. In 2023, he became the first Indian to receive the prestigious international PEN/Nabokov Award.

BOOKS & AUTHORS

• "Sanatan Sanskriti Ki Atal Drishti": Authored by Vasudev Devnani (Speaker of the Rajasthan Legislative Assembly), the book was released by Vice President C.P. Radhakrishnan. It offers a tribute to former PM Bharat Ratna Atal Bihari Vajpayee during his centenary birth celebrations.
• "The Great Sanctions Hack": Authored by former RBI Governor Urjit Patel (currently India’s Executive Director at the IMF) and published by Rupa Publications. The text applies a Heuristic Game-Theoretic Framework to explore the strategic motives, counter-measures, and limits of global Western trade sanctions.

IMPORTANT DAYS

National Mathematics Day — December 22

Marks the 138th birth anniversary of Srinivasa Ramanujan.

• SASTRA Ramanujan Prize 2025: Awarded to Dr. Alexander Smith (Northwestern University, USA) for breakthrough research in number theory. (Ages under 32; USD 10,000).
• DST-ICTP-IMU Ramanujan Prize 2025: Conferred to Claudio Muñoz (University of Chile) for work in dispersive partial differential equations. (Developing nations, under 45; USD 15,000).

National Farmer’s Day (Kisan Diwas) — December 23

Commemorates the 123rd birth anniversary of India's 5th Prime Minister, Chaudhary Charan Singh.

• Chaudhary Charan Singh Awards (2nd Edition): Organized by the Kisan Trust, featuring an AI-generated video interview of the late leader and launching the biographical book Sakshatkar.
• Key Laureates: Satyawan Sehrawat (Kisan Award) and Dr. Devendra Yadav (Krishi Utthan Award).

National Consumer Rights Day — December 24

Commemorates the day the historic Consumer Protection Act, 1986 received Presidential assent.

• 2025 Core Theme: "Efficient and Speedy Disposal through Digital Justice"
• Digital Portals Highlighted: The Ministry of Consumer Affairs emphasized infrastructure upgrades via the e-Jagriti Platform, National Consumer Helpline 2.0, and the Jago Grahak Jago mobile application.

STATE NEWS

GAIL & Chhattisgarh Sign MoU for Greenfield Urea Plant

GAIL (India) Limited signed a joint agreement with the Government of Chhattisgarh to construct a large-scale, gas-based greenfield fertilizer asset.

• Location Matrix: The production facility will be stationed strategically along GAIL’s Mumbai-Nagpur-Jharsuguda Pipeline (MNJPL) corridor.
• Capacity: Designed to manufacture 12.7 Lakh Metric Tonnes (LMT) of industrial urea per annum to secure regional agricultural supply lines.

Khelo India Tribal Games (KITG) 2026 Brand Unveiled

Union Sports Minister Dr. Mansukh Mandaviya unveiled the identity parameters for the 1st Khelo India Tribal Games, scheduled to begin on February 14, 2026, at the Late B. R. Yadav Sports Stadium in Bilaspur, Chhattisgarh.

• Mascot: Named ‘Morveer’ (Combines the Chhattisgarhi word Mor meaning "our own" with Veer meaning "courage").
• Competitive Framework: Features 7 core sports disciplines: Archery, Athletics, Football, Hockey, Wrestling, Swimming, and Weightlifting, alongside traditional indigenous showcase sports. Selected athletes will receive a development scholarship of Rs 5 lakh per year for 8 years.

Uttar Pradesh Clears Rs 24,497 Crore Supplementary Budget

UP Finance Minister Suresh Kumar Khanna moved a supplementary budget demand during the winter legislative session.

• Financial Impact: Pushes the state's total spending layout for the financial year to Rs 8,33,233.04 crore, against an updated GSDP projection of Rs 31.14 lakh crore.
• Top Allocations: Industrial Development (Rs 4,874 Cr) and Power Infrastructure (Rs 4,521 Cr).

Hansi Declared Haryana's 23rd District

The Haryana Government formally separated Hansi from the Hisar district to become the state’s 23rd administrative district. The shift brings 110 rural villages, spanning the Hansi and Narnaund constituencies, under centralized local governance.