NATIONAL AFFAIRS

GoI Launches Rs 4,531 Crore ‘Market Access Support’ Scheme for Exporters

The Government of India (GoI) has officially launched the Market Access Support (MAS) Scheme with a total budget layout of Rs 4,531 crore. The scheme will run for a six-year period from Financial Year 2025-26 (FY26) to FY31.

• Parent Mission: It operates under the umbrella of the Rs 25,060 crore Export Promotion Mission (EPM), which was approved by the Union Cabinet chaired by PM Narendra Modi in November 2025.
• Core Objective: To strengthen global market access for Indian exporters, focusing specifically on MSMEs and first-time exporters.
• Implementation framework: Implemented under Niryat Disha (Non-Financial Enablers), a sub-scheme of EPM.
• Key Agencies: Handled jointly by the Department of Commerce (DoC), Ministry of MSME, and Ministry of Finance (MoF), in coordination with Indian Missions abroad and Industry Associations.
• Budget Allocation: Out of the total outlay, Rs 500 crore is earmarked specifically for FY26. It will also clear Rs 330 crore of pending arrears from the previous Market Access Initiative (MAI).
• Mandatory MSME Clause: A minimum of 35% MSME participation is mandatory in trade delegations (sized at 50 or more participants).

Cap on Financial Assistance:

• Buyer-Seller Meets (BSMs): Capped at Rs 5 crore per event.
• Reverse BSMs (RBSMs): Up to Rs 10 crore per event.
• Trade Delegations: Up to Rs 5 crore per event.

MeitY Approves 22 New Proposals Worth Rs 41,863 Crores under ECMS

The Ministry of Electronics and Information Technology (MeitY) has approved 22 additional proposals valued at Rs 41,863 crores under the Electronics Components Manufacturing Scheme (ECMS). This marks the third tranche of clearances under the scheme.

• Cumulative Impact: Total project approvals under ECMS have now reached 46 projects, bringing cumulative investments to Rs 56,567 crore.
• 11 Key Segments Targeted: The approved projects span across critical electronic device components:
  • Bare Components: PCBs & High-Density Interconnects (HDIs), Capacitors, Connectors, Enclosures, Lithium-ion cells.
  • Sub-Assemblies: Camera Modules, Display Modules, Optical Transceivers.
  • Supply Chain Materials: Aluminium Extrusions, Anode Material, Copper Clad Laminates.
• Geographical Footprint: The projects are spread across 8 Indian states: Andhra Pradesh, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Tamil Nadu, Uttar Pradesh, and Rajasthan.
• Major Approved Companies: Includes key players like Tata Electronics, Samsung Display Noida, Hindalco Industries, Dixon Electroconnect, and BPL Limited.

MoC&I Launches Two Key Interventions to Boost MSME Exports under EPM

The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce & Industry, has rolled out two financial interventions totaling Rs 7,295 crore under the Niryat Protsahan sub-scheme of the Export Promotion Mission (EPM).

10th Edition of Indian Pharmacopoeia Released in New Delhi

Union Minister Jagat Prakash Nadda (Ministry of Health & Family Welfare) officially released the 10th edition of the Indian Pharmacopoeia (IP 2026) at the Dr. Ambedkar International Centre in New Delhi.

• What is it? The official compendium of drug standards legally enforceable under the Drugs and Cosmetics Act, 1940. It is published by the Indian Pharmacopoeia Commission (IPC) and was first published in 1955.
• Expanded Coverage: Added 121 new monographs, raising the total count to 3,340. It significantly expands quality benchmarks for Anti-Tubercular, Anti-Diabetic, Anti-Cancer medicines, and Iron supplements.
• Blood Transfusion Safety: 20 specific monographs for blood components have been introduced in alignment with the Drugs and Cosmetics (Second Amendment) Rules, 2020.

Quick National Updates:

• Indian Army Vision 2026: Under the leadership of COAS General Upendra Dwivedi, the Indian Army has declared 2026 as the 'Year of Networking & Data Centricity'. The goal is to treat data as a core battlefield asset. This builds upon the previous 2024-25 theme: 'Year of Technology Absorption'.
• PLI Scheme for Textiles Extended: The Ministry of Textiles has pushed the application deadline for the Production Linked Incentive (PLI) Scheme to March 31, 2026. The scheme targets Man-Made Fibre (MMF) Apparel, Fabrics, and Technical Textiles with an outlay of Rs 10,683 crore.
• 'Radio Sangam' Launched in J&K: The Indian Army, along with the civil administration, launched a community radio station operating on 88.8 FM at Keri village in Rajouri (Jammu & Kashmir). Notably, it is the first community radio station along the Line of Control (LoC).
• IITM Global Research Foundation: External Affairs Minister Dr. S. Jaishankar launched this initiative at IIT-Madras to help position it as the world’s first multinational university. Initial hubs will sit in the USA, Dubai (UAE), Malaysia, and Germany.

BANKING & FINANCE

ADB Approves Rs 4,100 Crore Loan for Musi Riverfront Development

The Asian Development Bank (ADB) has given in-principle clearance for a Rs 4,100 crore ($500 million USD) loan to the Government of Telangana for Phase-I of the Musi Riverfront Development Project.

• Objective: Rejuvenate the ecological health of the Musi River in Hyderabad and transform it into a vibrant socioeconomic zone.
• Phase-I Scope: Covers 21 kilometers of Zone-I, spanning from Osman Sagar (Gandipet) to Bapu Ghat and Himayatsagar to Bapu Ghat.
• Key Feature: Redevelopment of Bapu Ghat and the adjoining Gandhi Sarovar into a major riverfront landmark dedicated to Mahatma Gandhi.
• Execution: Handled by the Musi Riverfront Development Corporation Limited (MRDCL).

SEBI Announces Phased Compliance Timelines for Merchant Bankers

The Securities and Exchange Board of India (SEBI) has amended the Merchant Bankers Regulations of 1992, introducing new phased timelines for capital adequacy under the SEBI (Merchant Bankers) (Amendment) Regulations, 2025.

• Category-I Net Worth Criteria: Minimum net worth must touch Rs 25 crore by January 2, 2027, and increase to Rs 50 crore by January 2, 2028. The Liquid Net Worth (LNW) target is set at Rs 6.25 crore and Rs 12.5 crore for those respective dates.
• Category-II Net Worth Criteria: Must scale up to Rs 7.5 crore and Rs 10 crore across two distinct phases.
• Underwriting Limits: Total underwriting obligations are strictly capped at 20 times a merchant banker’s liquid net worth.
• Minimum Revenue Clause: Merchant Bankers must bring in minimum revenue from permitted operations (Rs 25 crore for Cat-I, Rs 5 crore for Cat-II) over a rolling 3-year period to avoid registration cancellation.

ICICI Bank Launches Capital Gains Account Scheme (CGAS)

Effective January 1, 2026, ICICI Bank has launched the Capital Gains Account Scheme (CGAS), 1988, enabling taxpayers to park un-invested long-term capital gains and secure tax exemptions.

• Core Purpose: Allows individuals and HUFs to store profits derived from selling capital assets prior to filing their Income Tax Returns (ITR) to protect their exemptions.
• Duration & Interest: Funds can reside in the account for up to three years while collecting competitive interest rates.
• Account Modalities: Offered via two types: Type A (functioning as a flexible savings account for approved reinvestment usage) and Type B (a fixed-tenure term deposit requiring a minimum of Rs 10,000).

APPOINTMENTS & RESIGNATIONS

• ESAF SFB Chairman: ESAF Small Finance Bank has appointed Karthikeyan Manickam (former Executive Director of Bank of India) as its new Chairman, effective January 2, 2026. He takes over the role following the step-down of Ravimohan Periyakavil Ramakrishnan.

SCIENCE & TECHNOLOGY

SpaceX Launches Italy’s COSMO-SkyMed Second Generation Satellite

Marking the very first global orbital rocket launch of 2026, a SpaceX Falcon 9 rocket successfully deployed Italy's COSMO-SkyMed Second Generation-Flight Model 3 (CSG-FM3) into a sun-synchronous Low Earth Orbit (LEO) at a 620 km altitude.

• The Mission: Developed by the Italian Space Agency (ASI) and the Italian Ministry of Defence, it acts as a high-tech Earth Observation Satellite (EOS).
• Dual-Use Tech: The 2,205 kg satellite is outfitted with high-end Synthetic Aperture Radar (SAR) sensors. It works round-the-clock under all weather conditions to assist both civilian defense and environmental mapping (tracking floods, landslides, and crop conditions).

IMPORTANT DAYS

World Braille Day 2026 – January 4

January 4, 2026, marked the global observance of the 8th World Braille Day, coinciding with the 217th birth anniversary of Louis Braille, the legendary pioneer who invented the tactile six-dot reading and writing system in 1824.

• Background: The United Nations General Assembly (UNGA) established this day in December 2018, and the very first World Braille Day was observed on January 4, 2019.
• Status of Braille: In 2005, UNESCO officially recognized Braille as a legitimate language form. The UN Convention on the Rights of Persons with Disabilities frames Braille as an essential vehicle for communication and education.

STATE NEWS

• New Chief Justice of Jharkhand HC: President Droupadi Murmu, exercising powers under Article 217(1) of the Constitution, has approved the appointment of Justice Mahesh Sharadchandra Sonak as the next Chief Justice of the Jharkhand High Court. Formerly a judge at the Bombay High Court, he will take over charge following the retirement of Justice Tarlok Singh Chauhan on January 8, 2026.