1. National Affairs

President Launches SOAR Initiatives & '#SkillTheNation Challenge'

On January 1, 2026, President Droupadi Murmu launched a series of initiatives under the Skilling for AI Readiness (SOAR) programme—a key component of the Skill India Mission (SIM)—at the Rashtrapati Bhavan Cultural Centre in New Delhi.

• Conferment of AI Certificates: Conferred AI learning module completion certificates to students and Members of Parliament (MPs).
• IGNOU Rairangpur Centre: Virtually inaugurated an IGNOU Regional and Skill Centre at Rairangpur, Odisha, to expand distance education and vocational training in tribal-dominated areas of northern Odisha.
• #SkillTheNation Challenge: A nationwide AI skilling initiative launched under SOAR by the Ministry of Skill Development and Entrepreneurship (MSDE) to build inclusive AI literacy across urban and rural India.

Pradhan Mantri Matru Vandana Yojana (PMMVY) Completes 9 Years

The flagship maternity benefit scheme completed nine years of implementation on January 1, 2026.

• Overview: Launched on January 1, 2017, PMMVY is a Centrally Sponsored Scheme (CSS) under the Ministry of Women and Child Development (MoWCD), aligned with Section 4 of the National Food Security Act (NFSA), 2013.
• Mission Shakti Integration: In 2022, PMMVY was brought under the Samarthya component of Mission Shakti, focusing on women's economic empowerment and financial inclusion.
• Benefits Structure:
  • 1st Living Child: Rs 5,000 provided in two installments.
  • 2nd Living Child: Rs 6,000 provided in a single installment, provided the second child is a girl.
• Funding Ratio: 60:40 (Centre:State/UTs with legislature); 90:10 for North East and Special Category States; 100% for UTs without a legislature.

MoSPI Unveils New Logo and Mascot 'Sankhyiki'

The Ministry of Statistics and Programme Implementation (MoSPI) updated its institutional identity under the theme "Data for Development."

• The Logo: Combines the Ashoka Chakra (truth and governance) and the Rupee symbol (₹) for economic planning. It integrates numerical elements ( ९ ), mathematical symbols ($=$, $S$, $\Sigma$), and an upward growth bar ($\nearrow$) to reflect modern data systems.
• The Mascot: Named "Sankhyiki" (सांख्यिकी), this citizen-centric character will feature in National Sample Surveys (NSS) and public awareness campaigns to simplify statistical concepts.

Cabinet Approvals (December 31, 2025)

• Odisha Highway Widening: Approved widening and strengthening of NH-326 (from km 68.600 to km 311.700) under Engineering, Procurement, and Construction (EPC) mode with an outlay of Rs 1,526.21 crore (civil construction cost: Rs 966.79 crore). Target completion is 24 months.
• Maharashtra 6-Lane Greenfield Corridor: Approved the construction of the 374 km Nashik-Solapur-Akkalkot Corridor on Build-Operate-Transfer (BOT) (Toll) mode involving Rs 19,142 crore. Aligned with the PM GatiShakti National Master Plan, it bridges transport connectivity between Maharashtra and Kurnool, Andhra Pradesh.

Other Key National Briefs

• Small Savings Schemes (SSS): The Ministry of Finance kept interest rates unchanged for Q4FY26 (January 1 – March 31, 2026), marking the 8th consecutive quarter without revisions.
• ESIC SPREE 2025 Extension: The Scheme for Promotion of Registration of Employers and Employees (SPREE) 2025 has been extended until January 31, 2026, allowing unregistered firms (10+ employees) to register voluntarily without penalties or past legal liabilities.
• DoP & SIDBI Partner for IMEs: India Post and SIDBI signed an MoU (valid until Dec 30, 2027) to conduct geo-tagged Contact Point Verification (CPV) of Informal Micro Enterprises (IMEs) on the Udyam Assist Platform (UAP) using 1.64 lakh post offices and SIDBI's mobile application.
• Land Stack Pilot Project: Launched by MoS Dr. Chandra Sekhar Pemmasani in Chandigarh and Tamil Nadu. This Geographic Information System (GIS)-based portal integrates parcel-level details, ownership, and litigation status. Alongside the pilot, the Glossary of Revenue Terms (GoRT) was released to translate revenue vocabulary across vernacular languages.
• Revised 'Sin Goods' Tax Framwork: Effective February 1, 2026, the Ministry of Finance will introduce an additional excise duty on tobacco products and a Health and National Security Cess on pan masala to replace the GST Compensation Cess. Regular GST remains at 40% for cigarettes/pan masala and 18% for biris.
• Fertilizer Subsidy e-Bill System: Union Minister J.P. Nadda launched an Integrated e-Bill system to digitally process Rs 2 lakh crore in fertilizer subsidies, transitioning workflows from paper to digital via cooperation between iFMS and PFMS.

2. International Affairs

Bulgaria Adopts Euro as Official Currency

Effective January 1, 2026, Bulgaria became the 21st member of the Eurozone, replacing the Bulgarian lev (BGN).

• Transition Period: Dual circulation runs through January 2026. The Euro becomes the sole legal tender on February 1, 2026.
• Conversion Rate: Irrevocably fixed at 1 EUR = 1.95583 BGN.
• Banking Shift: The Bulgarian National Bank (BNB) joined the Eurosystem, placing Bulgarian banks under the European Central Bank's (ECB) Single Supervisory Mechanism (SSM).

3. Banking, Finance & Economy

RBI Relaxes Infrastructure Loan Risk Weights for NBFCs

The Reserve Bank of India issued final directions (effective April 1, 2026) easing risk-weight framework criteria for Non-Banking Financial Companies handling infrastructure loans:

Grace Period: For exposures facing higher risk weights under the new directions, NBFCs can maintain their current framework until the next renewal cycle or March 31, 2027, whichever arrives earlier.

Maritime Lending: SMFCL Commences Operations

India’s first maritime-focused NBFC, Sagarmala Finance Corporation Limited (SMFCL), officially approved Rs 4,300 crore in loans during its 51st Board Meeting.

• Allocations: Rs 4,000 crore for a Greenfield Port Project, Rs 150 crore to the Dredging Corporation of India (DCI), and Rs 110 crore to Goa Shipyard Limited (GSL).
• Context: SMFCL serves as the nodal agency for the Rs 25,000 crore Maritime Development Fund (MDF).

Economy Rank: India Becomes World's 4th Largest Economy

The government announced that India has officially surpassed Japan to become the world's 4th largest economy with a nominal GDP of USD 4.18 trillion, ranking behind only the US, China, and Germany.

4. Science, Technology & Defence

DRDO Conducts Salvo Launch of Pralay Missiles

The Defence Research and Development Organisation (DRDO) successfully completed a consecutive salvo launch of two indigenously developed Pralay missiles from the Integrated Test Range (ITR) at Chandipur, off the coast of Odisha.

[Prahaar Missile Evolution] ──> [Pralay Quasi-Ballistic SSM] ──> [Advanced INS Guidance]

• Type: Short-range, solid-propellant, quasi-ballistic Surface-to-Surface Missile (SSM).
• Strike Range: 150–500 km.
• Payload Capacity: 500–1,000 kg (conventional warheads).
• Design & Development: Engineered by Research Centre Imarat (RCI), Hyderabad, in partnership with other apex DRDO installations like ASL and ARDE, alongside manufacturing partners BDL and BEL.

5. Appointments, Sports & Honours

• Canara Bank MD & CEO: Hardeep Singh Ahluwalia (former Executive Director) appointed as interim Managing Director and CEO effective January 1, 2026, succeeding K. Satyanarayana Raju for a 3-month interim window.
• Bureaucratic Reshuffle: Lav Aggarwal appointed Director General of Foreign Trade (DGFT); Rabindra Kumar Agarwal appointed CMD of the Food Corporation of India (FCI).
• Tata Mumbai Marathon Ambassador: 7-time Canadian Olympic medalist sprinter Andre De Grasse named the International Event Ambassador for the 21st Tata Mumbai Marathon scheduled for January 18, 2026.
• King’s New Year Honours List 2026: British-Indian actor and comedian Meera Syal awarded a Damehood (DBE) for her contributions to drama, literature, and charity.

Static GK Quick Reference

• MoSPI Minister of State (IC): Rao Inderjit Singh (Constituency: Gurgaon, Haryana).
• DRDO Chairman: Dr. Samir Venkatpati Kamat (Headquarters: New Delhi; Established: 1958).
• FCI Foundation: Established under the Food Corporation Act, 1964; commenced in 1965 (Headquarters: New Delhi).
• SEBI Statutory Powers: Enacted in 1992 via the SEBI Act, 1992 (Established originally in 1988).