Daily Current Affairs 17th December 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Gross Non-Performing Assets on education loans of public sector banks decline from 7% to 2%, signalling improved asset quality

• The Gross Non-Performing Assets (NPA) of education loans in Public Sector Banks (PSBs) declined sharply from 7% in FY 2020–21 to 2% in FY 2024–25, indicating a significant improvement in asset quality, as informed by the Reserve Bank of India (RBI).
• The RBI does not maintain state-wise data on education loan NPAs, as clarified in its disclosures.
• Credit-related decisions of Regulated Entities (REs) are largely deregulated and governed by Board-approved loan policies, framed within the ambit of regulatory, statutory requirements, and loan agreement terms.
• The RBI has directed banks to follow Board-approved loan policies, with credit decisions taken in line with guiding regulatory principles.
• To strengthen recovery and manage stress, the RBI issued the Prudential Framework for Resolution of Stressed Assets under RBI (Commercial Banks – Resolution of Stressed Assets) Directions, 2025, focusing on early recognition and time-bound resolution of defaults.

Key Highlights :

Education Loan Schemes and Norms

• All Scheduled Commercial Banks (SCBs) have been advised to adopt the Model Education Loan Scheme (MELS), last amended on 21 March 2024.
• Under MELS, need-based education loans up to ₹7.50 lakh require no collateral security or third-party guarantee, provided borrowers are eligible under Central Sector Interest Subsidy Scheme (CSIS) or Credit Guarantee Fund Scheme for Education Loan (CGFSEL).
• Public Sector Banks (PSBs) may also extend collateral-free education loans beyond ₹7.50 lakh on a case-to-case basis, as per their Board-approved policies.
• As per RBI circular dated 12 April 2010, banks must not mandatorily insist on collateral security for education loans up to ₹4 lakh.

PM Vidyalaxmi Scheme

• The PM Vidyalaxmi Scheme, launched on 06 November 2024, aims to ensure that financial constraints do not hinder access to higher education for meritorious students.
• The scheme enables collateral-free and guarantor-free education loans through a simple, transparent, and student-friendly process for students admitted to top Quality Higher Educational Institutions (QHEIs) in India.

About Ministry of Finance:

• Cabinet Minister: Smt. Nirmala Sitharaman
• Minister of State (MoS): Shri Pankaj Chaudhary

Asian Development Bank sanctions multi-sector loans to boost Chennai Metro expansion, Mizoram public healthcare, and women-focused Micro, Small, and Medium Enterprises financing in India

• The Asian Development Bank (ADB) approved three loans worth USD 448 million to support urban infrastructure, public healthcare, and women-focused financial inclusion in India.
• ADB sanctioned USD 240 million as a second tranche under a USD 780 million facility approved in 2022 for Chennai Metro Rail Phase 2 in Tamil Nadu.

Key Highlights :

• Chennai Metro Phase 2 spans a total network of 118.9 km across three corridors.
• The Purple Line (Line-3) covers 45.8 km from Madhavaram to SIPCOT-2, Siruseri.
• The Orange Line (Line-4) runs 26.1 km between Lighthouse and Poonamallee Bus Depot.
• The Red Line (Line-5) extends 47 km from Madhavaram to Sholinganallur.
• ADB funding supports Line-3 elevated civil works, Line-4 underground civil works, and Line-5 system components.
• Line-5 includes power supply, traction, and telecommunications systems.
• The project provides 18 new universally accessible and disaster-resilient stations with upgraded multimodal interchanges.
• Construction under the current tranche is targeted for completion by mid-2028.
• ADB approved a USD 108 million results-based loan to strengthen the public healthcare system in Mizoram.
• The programme supports universal health coverage through the Mizoram Universal Health Care Scheme (MUHCS).
• MUHCS provides cashless health coverage up to ₹5 lakh per family per year.
• The healthcare programme targets 38 million residents, focusing on women, elderly persons, and persons with disabilities.
• The scheme integrates Pradhan Mantri Jan Arogya Yojana (PMJAY) and state health schemes into a single platform.
• The integration links primary, secondary, and tertiary healthcare services.
• Priority areas include non-communicable diseases, disaster-resilient health infrastructure, and institutional strengthening.
• Mizoram is the first Indian state to undertake an ADB-supported comprehensive health system reform.
• ADB approved a USD 100 million loan to Five-Star Business Finance Limited, based in Chennai, Tamil Nadu.
• The programme aims to expand Micro, Small, and Medium Enterprises (MSME) credit access for women entrepreneurs from lower-income groups.
• The initiative serves over 400,000 borrowers across tier-3 cities and underserved regions through 700+ branches.
• Funds are deployed under an ADB-verified social finance framework promoting gender-responsive lending practices.

Recent News :

• The ADB approved a USD 475.8 million loan package for Northeast India to strengthen healthcare, ecotourism, and sustainable livelihoods.

About Asian Development Bank (ADB) :

• Established : 1966
• Headquarters : Manila, the Philippines.
• President : Masato Kanda
• Member countries : 69

Infibeam Avenues, Headquartered in GIFT City, to Rebrand as AvenuesAI Limited

• Infibeam Avenues Limited will be rebranded as AvenuesAI Limited following in-principle approval by its Board of Directors.
• The company is headquartered in GIFT City, Gujarat, and is transitioning from a payments and e-commerce infrastructure firm to a full-stack, AI-led digital payment technology company.
• The rebranding aims to position AvenuesAI as a globally recognised AI-driven digital payments company, with operations in the UAE, Saudi Arabia, Australia, the US, and Oman.
• Chairman and Managing Director, Infibeam Avenues : Vishal Mehta

Reserve Bank of India includes Mumbai-based Model Co-operative Bank in Second Schedule, confers Scheduled Bank status

• The Reserve Bank of India (RBI) has included Mumbai-based Model Co-operative Bank Limited. in the Second Schedule of the Reserve Bank of India Act, 1934, granting it “Scheduled Bank” status.
• The RBI action was taken under Section 42(6)(a) and Section 42(6)(c) of the RBI Act, 1934.
• With this recognition, Model Co-operative Bank becomes the fourth Urban Co-operative Bank (UCB) to receive scheduled status in the current financial year.
• Earlier, the RBI accorded scheduled status to Vishweshwara Sahakari Bank (Pune), Deogiri Nagari Sahakari Bank (Aurangabad), and Ahmednagar Merchants Co-operative Bank (Ahmednagar).

Key Highlights :

• The Second Schedule of the RBI Act, 1934 officially lists banks recognised as Scheduled Banks in India.
• A bank must possess a minimum paid-up capital of ₹5 lakh and meet RBI-prescribed eligibility norms to qualify as a Scheduled Bank.
• Scheduled Bank status allows banks to borrow from the RBI at the bank rate, obtain automatic clearinghouse membership, and access rediscounting facilities.

Classification of Scheduled Banks

• Scheduled Banks in India are categorised into Scheduled Commercial Banks (SCBs) and Scheduled Co-operative Banks.
• Although ₹5 lakh paid-up capital is the statutory minimum, the RBI recommends ₹100 crore capital for functioning as a commercial bank.

Regulatory Requirements for Scheduled Urban Co-operative Banks (UCBs)

• Scheduled UCBs must maintain an average daily Cash Reserve Ratio (CRR) of at least 5% of Net Demand and Time Liabilities (NDTL) with the RBI, as mandated under Section 42 of the RBI Act, 1934.
• Urban Co-operative Banks are required to maintain a Statutory Liquidity Ratio (SLR) of 25% of NDTL in cash, gold, or approved government securities.

Revised RBI Norms for Scheduled UCBs (February 2024)

• In February 2024, the RBI revised eligibility criteria for inclusion of UCBs in the Second Schedule.
• UCBs must maintain a CRAR that is 3% higher than the minimum regulatory requirement applicable to their tier.
• Absence of major regulatory or supervisory concerns is mandatory for a UCB to obtain or retain scheduled status.

Pension Fund Regulatory and Development Authority Releases Updated Investment Guidelines for Government Pension Funds

• The Pension Fund Regulatory and Development Authority (PFRDA) released the Master Circular on Investment Guidelines for government-sector pension schemes, including Unified Pension Scheme (UPS), NPS for Central/State Government subscribers, Corporate Government (CG) NPS, NPS Lite, Atal Pension Yojana (APY), and APY Fund Scheme.
• The Master Circular is issued under powers of Section 14(2)(b) read with Section 23 of PFRDA Act, 2013, and Regulation 14(1) of PFRDA (Pension Fund) Regulations, 2015.
• The circular aims to streamline compliance, enhance transparency, and strengthen risk management across government-sector pension fund investments, replacing the guidelines issued in March 2025.

Key Investment Limits and New Options

• Broadened Investment Options: Pension funds can now invest in Gold & Silver ETFs, REITs, InvITs, AAA-rated Municipal Bonds, and Government Debt ETFs, enhancing diversification, risk management, and liquidity.
• Subscriber Investment Options: For Central Government NPS/UPS subscribers, two new auto investment choices have been added, complementing existing Active and Auto frameworks, providing tailored, diversified portfolio options (e.g., Life Cycle 75 (LC75) and Balanced Life Cycle (BLC)).

Recent News :

• In Oct 2025, The PFRDA released a consultation paper titled ‘Alignment of Valuation Guidelines with the Core Objectives of Long-only Funds when Investing in Government Securities and Calculation of Net Asset Value (NAV)’.

About PFRDA :

• PFRDA was established in 2003 and made a statutory body in 2013, functioning under the Department of Financial Services (DFS), Ministry of Finance.
• Headquarters: New Delhi, Delhi.
• Chairman: Sivasubramanian Ramann (Assumed charge in June 2025)

Union Cabinet Approves Sabka Bima Sabki Raksha (Insurance Laws Amendment) Bill, 2025 for Winter Session Introduction

• The Union Cabinet has approved the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, paving the way for its introduction in Parliament during the Winter Session.
• The Bill proposes reforms to India’s insurance framework by amending the Insurance Act, 1938, LIC Act, 1956, and IRDAI Act, 1999, aiming at modernisation, expanded insurance coverage, and stronger regulatory oversight.
• The Bill allows 100% Foreign Direct Investment (FDI) in insurance, up from 74%, to attract long-term capital, boost competition, and support ‘Insurance for All by 2047’.

Key Highlights :

• The Net Owned Funds (NOF) requirement for foreign reinsurers is reduced from ₹5,000 crore to ₹1,000 crore, enabling greater participation beyond GIC Re.
• LIC is granted greater operational autonomy, including the ability to set up zonal offices without prior government approval and restructure overseas operations.
• The Bill mandates that at least one top official (Chairman/MD/CEO) must be an Indian citizen, even under 100% foreign ownership.
• The Chairperson and whole-time members of IRDAI will have a fixed term of five years or can serve until 65 years of age, raising the retirement age from 62 to 65 years.
• Minimum paid-up capital for insurers remains ₹100 crore and for reinsurers ₹200 crore, maintaining high entry barriers for new players.
• The Bill strengthens IRDAI powers by introducing disgorgement powers, one-time registration for insurance intermediaries, raising the equity transfer threshold from 1% to 5%, and mandating formal SOPs for regulation-making.
• The Bill promotes customer-centric services, product innovation, and adoption of global best practices in underwriting, risk management, and digital claims.
• The Bill excludes the composite licence, which prevents life insurers from selling non-life products and vice versa, limiting bundled offerings and competition.
• The Bill does not reduce capital norms for new entrants, which could have enhanced insurance penetration, especially in rural areas, gig economy, MSMEs, and low-income households.
• Earlier proposals excluded include permission for insurers to distribute other financial products, flexible investment norms, allowing individual agents to sell multiple insurers’ policies, and captive insurance companies, delaying modernisation of corporate risk management.
• Overall, the Bill seeks to balance industry growth, consumer protection, and broader financial sector reforms, while generating significant parliamentary debate.

Andhra Pradesh Emerges as India’s Leading Fruit and Fish Producer with Robust Economic Growth: RBI Report

• According to a Reserve Bank of India (RBI) report, Andhra Pradesh has emerged as a top-performing state across agriculture, fisheries, and socio-economic indicators.
• During FY 2024–25, the state ranked first in fruit production with over 19 million tonnes.
• Andhra Pradesh also led in fish production, recording nearly 1 million tonnes.
• The state recorded steady economic growth, with GSDP estimated at nearly ₹16 lakh crore at current prices in 2024–25.
• The per capita GSDP of the state stood at over ₹2.5 lakh, reflecting rising income levels.
• Average life expectancy in Andhra Pradesh was 70 years (on par with the national average), with female life expectancy at 73 years and male life expectancy at 68 years.
• In terms of power availability, the state ranked 14th nationally, with per capita availability of nearly 1,500 units.
• Progress towards Sustainable Development Goals (SDGs) placed Andhra Pradesh at 10th position nationally with a score of 74.

CURRENT AFFAIRS : INTERNATIONAL NEWS

United Nations Environment Programme Hosts 7th United Nations Environment Assembly in Nairobi from December 8–12, 2025

• The 7th United Nations Environment Assembly (UNEA-7) was held from 08–12 December 2025 at the UNEP Headquarters in Nairobi, Kenya.
• UNEA is the world’s highest decision-making body on environmental matters, under the United Nations Environment Programme (UNEP).
• The theme of UNEA-7 was “Advancing sustainable solutions for a resilient planet”.
• UNEA-7 was chaired by Abdullah bin Ali Al-Amri, President of the Environment Authority of Oman.
• Over 6,000 delegates from 186 countries, including governments, international organisations, civil society and the private sector, participated.
• Union Minister of State Kirti Vardhan Singh, MoEFCC, represented India at UNEA-7.
• On 10 December 2025, the 2nd Multilateral Environmental Agreements (MEA) Day was observed, focusing on global and regional environmental agreements.
• The 21st Global Major Groups and Stakeholders Forum (GMGSF) was held prior to UNEA-7 to facilitate stakeholder discussions on key agenda issues.

Key Highlights :

GEO-7 Report and Global Climate Finance

• UNEP released the “Global Environment Outlook – Seventh Edition (GEO-7): A Future We Choose” during UNEA-7.
• GEO-7, compiled by 287 scientists from 82 countries, highlighted severe impacts of climate change, biodiversity loss, land degradation, desertification, and pollution.
• The report estimated global macroeconomic benefits of USD 20 trillion annually by 2070, rising to USD 100 trillion per year thereafter, through systemic transformations.
• Achieving net-zero emissions by 2050 requires annual investments of about USD 8 trillion until 2050, as per GEO-7.

India’s Role and Key Resolution

• India’s National Statement, delivered by Kirti Vardhan Singh, emphasised a people-centric approach, strong domestic action, and adherence to CBDR–RC principles (Common But Differentiated Responsibilities and Respective Capabilities).
• India successfully adopted a resolution on “Strengthening the Global Management of Wildfires”, receiving wide international support.
• India highlighted the UNEP report “Spreading Like Wildfire”, warning wildfire increases of 14% by 2030, 30% by 2050, and 50% by 2100.
• India acknowledged the Global Fire Management Hub, established in 2023 by FAO and UNEP, as a key global mechanism.

UNEP Champions of the Earth Award 2025

• Supriya Sahu, Additional Chief Secretary, Government of Tamil Nadu, received the UNEP Champions of the Earth Award 2025, the UN’s highest environmental honour.
• Other awardees included Imazon (Brazil) in Science & Innovation, and Pacific Islands Students Fighting Climate Change (PISFCC) in Policy Leadership.
• Mariam Issoufou received the award in Entrepreneurial Vision, while Manfredi Caltagorine was honoured posthumously with the Lifetime Achievement Award.

Outcomes and UNEP Governance

• UNEA-7 adopted 11 resolutions, 3 decisions, and a Ministerial Declaration to advance sustainable environmental solutions.
• Key resolutions covered minerals and metals for clean energy, wildfire cooperation, protection of coral reefs and glaciers, and sustainable use of AI.
• The Ministerial Declaration reaffirmed commitments to inclusive environmental governance and national zero-waste initiatives.
• Member states approved UNEP’s Medium-Term Strategy (MTS) for four years, along with its programme of work and budget for the next two years.
• Matthew Samuda, Minister from Jamaica, was elected President of UNEA-8, scheduled for 06–10 December 2027 in Nairobi.

About UNEP :

• Established: 1972.
• Headquarters: Nairobi, Kenya.
• Executive Director: Inger Andersen.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Madhya Pradesh to Develop Veerangana Durgavati Tiger Reserve as Cheetah Sanctuary

• Madhya Pradesh Chief Minister Mohan Yadav announced that Veerangana Durgavati Tiger Reserve will be developed into a cheetah sanctuary before the next monsoon session.
• Located at Nauradehi in Sagar district, it will become the third cheetah habitat in Madhya Pradesh, after Kuno National Park and Gandhi Sagar Sanctuary.
• India successfully reintroduced cheetahs after their extinction in the 1950s, becoming the only country globally to do so.

Key Highlights

• First cheetah habitat: Kuno National Park, Sheopur (September 2022) – currently 28 cheetahs.
• Second cheetah habitat: Gandhi Sagar Sanctuary, Mandsaur (April 2025) – currently 2 cheetahs.
• Next phase: Eight cheetahs expected from Botswana in January 2026.
• Veerangana Durgavati Tiger Reserve has been approved by the Madhya Pradesh State Cabinet for cheetah habitat development.
• The reserve will expand the cheetah range and population, complementing existing habitats in the state.
• The move will strengthen biodiversity conservation, support ecosystem balance, and enhance wildlife management capacity.
• Development of the sanctuary is expected to promote eco-tourism and conservation awareness.
• The initiative further highlights India’s leadership in global big cat conservation through international cooperation, particularly with African nations, for expertise in cheetah management and long-term conservation planning.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park.
• Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial Sanctuary, Kuno Wildlife Sanctuary.

RECENT NEWS

• In a landmark move aimed at securing water resources and promoting inter-State cooperation, Madhya Pradesh and Maharashtra signed an MoU on May 10, 2025, to jointly implement the Tapti Basin Mega Recharge Project.

India Conducts First Indigenous Clinical Trial for Advanced Brain Stent in Stroke Treatment

• India created medical history with its first-ever dedicated domestic clinical trial of an advanced brain stent for severe stroke treatment at All India Institute of Medical Sciences (AIIMS), New Delhi.
• The trial, named GRASSROOT Trial, evaluated an indigenously developed Supernova stent, manufactured by Gravity Medical Technology.

Key Highlights

• The achievement is significant as around 1.7 million people in India suffer strokes every year, making affordable and effective interventions critical.
• The GRASSROOT Trial was India’s first multi-centre clinical trial focused exclusively on a stroke intervention device.
• It was led by AIIMS Delhi and conducted across 8 medical centres nationwide.
• The objective was to assess the safety and efficacy of the Supernova stent in treating large vessel occlusion strokes.
• The trial reported excellent safety and clinical outcomes, with results published in the Journal of Neurointerventional Surgery (BMJ Group).
• The Supernova stent is a stent-retriever device used in mechanical thrombectomy, which physically removes blood clots from blocked brain arteries.
• It was specifically designed considering India-specific factors, including younger age of stroke onset and anatomical and lifestyle differences compared to Western populations.
• Prior to the trial, the device had been successfully used in over 300 patients across Southeast Asia.
• The trial aimed to generate high-quality clinical evidence within India, reducing reliance on foreign trials for regulatory approvals.
• It resulted in the first-ever stroke device in India to receive approval solely based on domestic clinical trial data, strengthening trust in India’s medical device regulatory ecosystem.
• AIIMS Delhi, under National Principal Investigator Dr Shailesh B. Gaikwad, described the trial as a turning point in neurointerventional care.
• The success reflected strong industry–academia collaboration, with Gravity Medical Technology translating research into clinical practice, supported by neurologists, neuroradiologists, and patient volunteers.
• The achievement aligns with national initiatives such as Make in India, Atmanirbhar Bharat, and the National Health Policy 2017, by reducing import dependence and improving access to advanced tertiary care.
• Lower-cost indigenous devices can indirectly support schemes like Ayushman Bharat–Pradhan Mantri Jan Arogya Yojana (PMJAY) by expanding coverage for advanced stroke procedures.

Maharashtra Launches MahaCrimeOS AI for Statewide Policing

• Microsoft Chairman and CEO Satya Nadella announced the statewide rollout of MahaCrimeOS AI for the Maharashtra Police marking a historic step in technology-driven law enforcement.
• The AI-based crime-solving platform will be implemented across all 1,100 police stations in Maharashtra, making it one of the largest AI deployments in policing in India.
• The initiative is the result of a collaboration between Microsoft, the Government of Maharashtra, and the state’s dedicated AI law enforcement agency MARVEL (Maharashtra Research and Vigilance for Enhanced Law Enforcement).

Key Highlights

• MARVEL, established in 2024, is a government-owned AI initiative aimed at modernising policing by improving crime prediction, intelligence gathering, and investigation methods. Maharashtra became the first Indian state to set up an independent AI body exclusively for law enforcement.
• MahaCrimeOS AI builds upon a pilot project launched in April 2025 in Nagpur Rural, where it operated in 23–25 police stations, including cybercrime units.
• During the pilot phase, 127 police officers were trained, and the system was used in 261 cases, leading to the decision for a full-scale rollout.
• The platform supports multimodal data ingestion, enabling processing of complaints in PDFs, audio files, handwritten notes, and images, and can extract information in any language, including Marathi.
• It automatically generates investigation workflows in line with Maharashtra Police protocols and judicial guidelines.
• The system analyses telecom records, social media data, and open-source intelligence to identify suspects and establish linkages between cases.
• Time-stamped digital case diaries are maintained, tracking case progress, pending actions, and updates, making documentation court-ready.
• The AI solution improves efficiency in cybercrime, financial fraud, and crimes against women by reducing delays caused by dependence on senior-level approvals.
• MahaCrimeOS AI integrates best practices from High Court and Supreme Court rulings, reducing procedural errors and strengthening the quality of prosecution.
• The statewide implementation positions Maharashtra as a national leader in AI-enabled policing, enhancing investigative speed, accuracy, and judicial compliance.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Acharya Devvrat
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

RECENT NEWS

• Brookfield Asset Management has announced a major investment of $1 billion to develop Asia’s largest Global Capability Centre (GCC) in Mumbai’s Powai. The project will cover 2 million square feet also support a multinational bank for a long-term 20-year period. It will expected to create over 30,000 jobs by 2029.

Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025 Introduced to Reform Higher Education Governance

• The Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025 has been introduced by the Union Government and listed in the Winter Session of Parliament to reform India’s higher education regulatory framework in line with the National Education Policy (NEP) 2020.
• India’s higher education system faces challenges such as multiple regulators, overlapping mandates, inconsistent standards, and bureaucratic delays, which the Bill seeks to address through a single integrated framework.

Key Highlights

• Existing regulators such as the University Grants Commission (UGC), All India Council for Technical Education (AICTE), and National Council for Teacher Education (NCTE) currently regulate the sector, often leading to fragmented control, multiple approvals, and excessive compliance burden.
• The Bill aims to promote excellence in teaching and learning, research and innovation, and academic governance, reflecting the NEP 2020 principle of a “light but tight” regulatory system.
• At the apex of the new structure will be the Viksit Bharat Shiksha Adhishthan (VBSA), a 12-member umbrella commission serving as the highest authority for higher education regulation.
• The VBSA will include representatives from the Ministry of Education, State higher education institutions, and eminent academic and policy experts.
• Under VBSA, three specialised councils (each with up to 14 members) will function:
  • Viksit Bharat Viniyaman Parishad (Regulatory Council) for regulatory oversight, governance compliance, and coordination across institutions.
  • Viksit Bharat Gunvatta Parishad (Accreditation Council) for institutional and programme-level accreditation and building a credible quality assurance ecosystem.
  • Viksit Bharat Manak Parishad (Standards Council) for setting academic and curricular standards and ensuring nationwide harmonisation of benchmarks.
• The Bill will apply to Central and State Universities, colleges and Higher Educational Institutions, Institutions of National Importance, Institutions of Eminence, and technical and teacher education institutions.
• Certain professional programmes are excluded, including medicine, dentistry, nursing, law, pharmacology, and veterinary sciences, which will continue under existing regulators.
• The Council of Architecture will retain responsibility for professional standards in architecture but without regulatory powers.
• The Bill proposes to subsume UGC, AICTE, and NCTE, eliminating duplication, reducing compliance burden, and improving coordination.
• A major reform is the separation of funding from regulation, with grant disbursal powers removed from UGC and funding mechanisms to be handled separately by the Ministry of Education, aligning with NEP 2020.
• To support globalisation of higher education, the Regulatory Council will frame norms for foreign universities operating in India and enable high-performing Indian universities to establish offshore campuses, while preventing excessive commercialisation.
• The Accreditation Council will introduce an outcome-based accreditation framework, shifting focus from input-based compliance to learning outcomes and academic performance.
• Strong enforcement mechanisms are provided, including penalties ranging from ₹10 lakh to ₹75 lakh, closure of institutions for repeated violations, and suspension of degree- or diploma-granting authority.
• Institutions operating without accreditation may face penalties of ₹2 crore or more.
• The Bill has raised concerns regarding centralisation, Centre’s role in appointments, and removal of grant powers, similar to criticisms faced by the earlier Higher Education Commission of India (HECI) Bill, 2018.
• A key improvement is the mandatory inclusion of State representation in all three councils, addressing federal concerns to some extent.
• If implemented effectively, the VBSA Bill is expected to streamline regulation, ensure uniform academic standards, improve global competitiveness and rankings, and reduce fragmentation in higher education governance.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Raj Kumar Goyal Sworn in as Chief Information Commissioner by President Droupadi Murmu at Rashtrapati Bhavan

• Raj Kumar Goyal, a 1990-batch IAS officer (AGMUT cadre), was sworn in as the Chief Information Commissioner (CIC) by President Droupadi Murmu at Rashtrapati Bhavan.
• His appointment was recommended by a three-member selection panel headed by Prime Minister Narendra Modi, along with Home Minister Amit Shah and Leader of Opposition Rahul Gandhi.
• The post of CIC had been vacant since 13 September 2025, following the completion of Heeralal Samariya’s

Key Highlights :

• The panel also recommended eight new Information Commissioners—Surendra Singh Meena, Ashutosh Chaturvedi, Swagat Das, Sudha Rani Relengi, P.R. Ramesh, Khushwant Singh Sethi, Jaya Varma Sinha, and Sanjeev Kumar Jindal—restoring the Central Information Commission to full strength for the first time in nine years.
• Raj Kumar Goyal, after taking oath, administered the oath of office to the eight new Information Commissioners in the presence of incumbent Anandi Ramalingam and Vinod Kumar Tiwari.
• The Central Information Commission (CIC), constituted under the Right to Information Act, 2005, can have a Chief Information Commissioner and up to 10 Information Commissioners. Its jurisdiction extends over all Central public authorities.

Profiles of New Information Commissioners :

• Surendra Singh Meena, a 1993-batch IAS officer (Jharkhand cadre), served as Additional/Joint Secretary in the Ministry of Social Justice and Empowerment.
• Ashutosh Chaturvedi, a senior journalist, previously served as editor-in-chief of Prabhat Khabar, executive editor of Amar Ujala, and producer/correspondent with BBC World Service.
• Swagat Das, a 1987-batch IPS officer (Chhattisgarh cadre), retired as Secretary (Security), Cabinet Secretariat, and served in the Intelligence Bureau and Union Ministry of Home Affairs.
• Sudha Rani Relangi, an Indian Legal Service officer, retired as Joint Secretary, Ministry of Law and Justice, contributed to drafting the Right to Information Act, 2005, and served as Legislative Counsel and Director of Prosecution, CBI.
• R. Ramesh, a senior journalist, served as managing editor, Open magazine, Delhi, and national political editor, The Economic Times.
• Khushwant Singh Sethi, a 1990-batch IFS officer (Tripura cadre), held posts of Principal Chief Conservator of Forests, head of Forest Force, and Principal Secretary, Forests.
• Jaya Varma Sinha, a 1988-batch IRMS officer, served as Chairperson and CEO, Railway Board, Ministry of Railways.
• Sanjeev Kumar Jindal, a 1989-batch CSS officer, held the post of Additional Secretary in the Ministry of Home Affairs.
• The three-member panel aimed to ensure diversity and competence while selecting the CIC and Information Commissioners.

Slovak-born billionaire Andrej Babiš sworn in as Czech Republic Prime Minister by President Petr Pavel at Prague Castle

• Andrej Babiš, a Slovak-born billionaire businessman and leader of the populist ANO (Action of Dissatisfied Citizens) party, was sworn in as the Prime Minister of the Czech Republic by President Petr Pavel at Prague Castle, Prague.
• He succeeded Petr Fiala, who served as Prime Minister from 2021 to 2025.
• His appointment followed the October 2025 Czech Parliamentary Elections, marking his return as PM after nearly four years (earlier term 2017–2021).
• After the elections, ANO formed a majority coalition government with the Freedom and Direct Democracy (SPD) party and the Motorists for Themselves Party.
• The ruling coalition commands 108 seats in the 200-seat Lower House of the Czech Parliament.

About Andrej Babiš :

• Andrej Babiš founded Agrofert in 1993, which is now the largest agricultural, food and chemical conglomerate in the Czech Republic.
• He founded the ANO movement in November 2011, where ANO means “Yes” in Czech.
• He was elected to the Czech Parliament in 2013 and served as First Deputy Prime Minister and Finance Minister from 2013 to 2017.
• He previously served as Prime Minister of the Czech Republic from December 2017 to December 2021.
• He became the oldest and wealthiest Czech Prime Minister, the first PM born outside the Czech Republic, the first with dual citizenship, and the first whose native language is not Czech.
• Andrej Babiš was awarded “Minister of Finance of the Year” in 2016 for his contribution to the development of European economies.

About Czech Republic :

• President : Petr Pavel
• Capital : Prague
• Currency : Czech Koruna (CZK).

Suresh Goyal Appointed as 11th Director General of National Council of Applied Economic Research

• The National Council of Applied Economic Research (NCAER) has appointed Suresh Goyal as its 11th Director General, effective January 5, 2026.
• Suresh Goyal will succeed Poonam Gupta, who served as Director General of NCAER from July 2021 to April 2025.
• Prior to this role, Goyal served as Managing Director and CEO of the National Highway Infra Trust (NHIT), supporting the National Monetisation Pipeline of the Government of India.
• Goyal has extensive experience in the private sector, having served as Senior MD and Head of India & Southeast Asia at Macquarie Infrastructure and Real Assets, based in Singapore.

About NCAER :

• NCAER, established in 1956 in New Delhi, is India’s oldest and largest independent economic policy research think tank.
• NCAER collaborates with over 12 central government ministries, 3 state governments, and 13 other organisations.
• The Governing Board of NCAER has tasked Suresh Goyal with mobilising a larger endowment and establishing new research centres focusing on states’ growth, health economics, macroeconomics, finance, and data insights.
• NCAER was set up as a public-private partnership by Commerce Minister T T Krishnamachari with support from industrialist J R D Tata.

CURRENT AFFAIRS: AWARSD AND HONOURS

DV Kapur Foundation Energy Innovation Awards 2025 Presented in New Delhi

• India’s first DV Kapur Foundation Energy Innovation Awards were presented at the SCOPE Complex, New Delhi, recognising technological innovations supporting clean energy transition, efficiency, and indigenous research.
• The awards were organised by the D V Kapur Foundation, which focuses on promoting research, development, and indigenous technological solutions in the energy sector.
• The initiative aims to encourage innovators, especially young researchers, to address India’s evolving energy challenges and future sustainability needs.
• Prof Ajay Kumar Sood, Principal Scientific Advisor to the Government of India, felicitated the awardees.
• Category 1 – Young Innovators (under 38 years)
  • Winner: Dr Achu Chandran, Principal Scientist, Council of Scientific and Industrial Research – National Institute for Interdisciplinary Science and Technology (CSIR-NIIST)
  • Innovation: Nano Electricity Generator
  • Prize: Citation, trophy, and ₹1 lakh
• Category 2 – Individuals/Organizations for Technological Innovation
  • Winner: NTPC’s Research and Development wing – NETRA
  • Innovation: Green Use of Coal Technologies
  • Prize: Citation, trophy, and ₹10 lakh
  • Recipient: Shri Shaswattam, Executive Director (NETRA), along with his team
• The awards highlight the importance of innovation in meeting India’s rising energy demand while ensuring long-term sustainability.
• They recognise the role of scientists and research and development organisations in driving clean, efficient, and sustainable energy solutions for India’s future.

CURRENT AFFAIRS: SPORTS NEWS

MRF Tyres Wins 2025 FIA European Rally Championship Teams Title

• MRF Tyres clinched the 2025 FIA European Rally Championship (ERC) Teams Title, marking a major boost to India’s presence in global motorsport technology.
• The award was presented at the FIA Awards Gala, the annual season-closing ceremony organised by the Fédération Internationale de l’Automobile (FIA).
• This is MRF Tyres’ third ERC Teams Championship title, after earlier victories in 2022 and 2023, with the latest win coming in 2025.
• The ERC Teams Title is awarded based on consistent performance across multiple rally events held in diverse and challenging European terrains, where tyre grip, durability, and adaptability are critical.
• The trophy was handed over by Manuel Avino, Vice President, FIA Europe, to Arun Mammen, Vice Chairman and Managing Director of MRF Ltd, at the FIA Awards Gala.
• The victory highlights MRF’s research-driven approach, high-quality manufacturing, and ability to meet extreme motorsport performance standards.
• MRF’s repeated success positions it among the few Indian companies to consistently compete and win in elite global motorsport championships, traditionally dominated by European and Japanese firms.
• The achievement strengthens India’s visibility in high-performance automotive engineering and enhances MRF’s global brand recognition and export potential.
• MRF has a long-standing association with motorsports, backed by sustained investment in research and development, testing facilities, and international racing partnerships.
• The ERC success underlines the importance of long-term vision, innovation-led growth, and consistent investment in niche but high-impact sectors like motorsport technology.

John Cena Retires from In-Ring Competition (December 2025)

• John Cena, one of the greatest WWE superstars, officially retired from in-ring competition in December 2025, ending a 20-year WWE career.
• His final match was held at Night’s Main Event.
• Cena faced Gunther, the World Heavyweight Champion, and lost via submission (tap-out), marking the first tap-out defeat in his WWE career.
• During the match, Cena performed his signature Attitude Adjustment (AA), sleeper hold, and top-rope maneuvers.
• A ceremonial passing of the torch took place, with Cody Rhodes, CM Punk, and other wrestlers presenting championship belts to Cena.
• Cena finished his career as a 17-time World Champion (14 WWE Championships and 3 World Heavyweight Championships).
• He won the WWE United States Championship five times, the Intercontinental Championship once, and multiple Tag Team Championships (WWE Tag Team Championship twice and World Tag Team Championship twice).
• Cena completed the WWE Career Grand Slam, also winning the Royal Rumble twice and the Money in the Bank briefcase once, along with several WrestleMania main-event appearances.
• WWE legends, current stars, and fans paid tribute to Cena’s “Hustle, Loyalty, Respect” legacy, highlighting his professionalism and sportsmanship.
• In his final year, Cena briefly adopted a darker persona ahead of WrestleMania 41 to secure his historic 17th world title.
• He later passed the torch to Cody Rhodes, returned to his heroic image, and completed his Career Grand Slam by winning the Intercontinental Championship in Boston, his hometown.
• Cena’s final match against Gunther officially brought his iconic WWE journey to a close, marking the end of an era in professional wrestling.

CURRENT AFFAIRS : DEFENCE NEWS

Over 31.69 Lakh Defence Pensioners Enrolled on System for Pension Administration – Raksha, India’s Largest Digital Pension System

• SPARSH (System for Pension Administration – Raksha) is India’s first end-to-end digital pension platform, launched under the Digital India initiative to ensure the Right Pension to the Right Pensioner at the Right Time.
• SPARSH is administered by the Defence Accounts Department (DAD) through PCDA (Pensions), Prayagraj.
• The platform replaced a fragmented pension system managed by over 45,000 agencies with a unified, transparent, and accountable digital framework.

Key Highlights :

• As of November 2025, 69 lakh defence pensioners across India and Nepal have been onboarded on the SPARSH portal, making it the largest unified pension system in India.
• 94.3% of legacy discrepant cases were resolved, with 6.07 lakh out of 6.43 lakh cases normalised without affecting pensioners’ entitlements.
• To support elderly and non-tech-savvy pensioners, 284 SPARSH Outreach Programmes and 194 Raksha Pension Samadhan Ayojans were conducted nationwide.
• During the current Financial Year, over 8,000 grievances were resolved on the spot through outreach initiatives.
• Grievance redressal time reduced significantly from 56 days (April 2025) to 17 days (November 2025).
• As per the Department of Administrative Reforms and Public Grievances (DARPG), DAD achieved a 73% satisfaction score, ranking 5th among Ministries/Departments.
• Under the Digital Life Certificate (DLC) 4.0 Campaign (1–30 November 2025), 20.94 lakh DLCs were generated for defence pensioners, the highest among all departments.
• The DLC 4.0 campaign involved 202 offices, 4.63 lakh Common Service Centres, 15 partner banks, and 27 Nodal Officers.
• In FY 2024–25, a Defence Pension Budget of ₹1,57,681 crore was disbursed on a real-time basis through SPARSH.
• OROP-III, implemented in July 2024, enabled the disbursal of ₹1,224.76 crore to 20.17 lakh beneficiaries within 15 days.
• SPARSH is the only fully integrated digital pension solution for defence personnel.
• The platform reflects the Government’s commitment to dignity, transparency, efficiency, and timely support for veterans and their families.

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Sanjay Seth

CURRENT AFFAIRS : OBITUARIES

Veteran Indian National Congress Leader Shamanur Shivashankarappa Passed away at 94 in Bengaluru, Karnataka

• Veteran Indian National Congress (INC) leader Shamanur Shivashankarappa passed away at the age of 94 in Bengaluru, Karnataka.

About Shamanur Shivashankarappa :

• He was born on 16 June 1931 in Davanagere, Kingdom of Mysore, Karnataka.
• Shivashankarappa was a noted educationist and industrialist, founding several institutions under the Bapuji Educational Association, Davanagere.
• He was widely respected across political parties for his integrity, leadership, and mass connect.
• He entered public life through the Davanagere Municipal Council in 1969 and served as its President from 1971 to 1973.
• He served as President of Congress Chitradurga District Unit (1978–1980) and as Permanent Treasurer of Karnataka Pradesh Congress Committee (KPCC).
• First elected as an MLA in 1994 at age 63 and served six terms from Davanagere and Davanagere South constituencies (1994–2023), becoming the senior-most legislator in Karnataka Assembly.
• Represented Davanagere in the Lok Sabha as a Member of Parliament (1998–1999).
• Served as Karnataka Minister for Horticulture and Agricultural Marketing in the Siddaramaiah-led government (2013–2016).
• Held leadership as President of the Akhila Bharata Veerashaiva Lingayat Mahasabha (2012 onwards), unifying the Veerashaiva-Lingayat community and organising the Panchapeetha Mathadhisara Sammelan.

Daily CA One- Liner: December 17

• Madhya Pradesh Chief Minister Mohan Yadav announced that Veerangana Durgavati Tiger Reserve will be developed into a cheetah sanctuary before the next monsoon session
• India created medical history with its first-ever dedicated domestic clinical trial of an advanced brain stent for severe stroke treatment at All India Institute of Medical Sciences (AIIMS), New Delhi
• Microsoft Chairman and CEO Satya Nadella announced the statewide rollout of MahaCrimeOS AI for the Maharashtra Police marking a historic step in technology-driven law enforcement
• India’s first DV Kapur Foundation Energy Innovation Awards were presented at the SCOPE Complex, New Delhi, recognising technological innovations supporting clean energy transition, efficiency, and indigenous research
• The Viksit Bharat Shiksha Adhishthan (VBSA) Bill, 2025 has been introduced by the Union Government and listed in the Winter Session of Parliament to reform India’s higher education regulatory framework in line with the National Education Policy (NEP) 2020
• MRF Tyres clinched the 2025 FIA European Rally Championship (ERC) Teams Title, marking a major boost to India’s presence in global motorsport technology
• John Cena, one of the greatest WWE superstars, officially retired from in-ring competition in December 2025, ending a 20-year WWE career.
• The Gross Non-Performing Assets (NPA) of education loans in Public Sector Banks (PSBs) declined sharply from 7% in FY 2020–21 to 2% in FY 2024–25, indicating a significant improvement in asset quality, as informed by the Reserve Bank of India (RBI).
• The Asian Development Bank (ADB) approved three loans worth USD 448 million to support urban infrastructure, public healthcare, and women-focused financial inclusion in India.
• Infibeam Avenues Limited will be rebranded as AvenuesAI Limited following in-principle approval by its Board of Directors.
• The Reserve Bank of India (RBI) has included Mumbai-based Model Co-operative Bank Limited. in the Second Schedule of the Reserve Bank of India Act, 1934, granting it “Scheduled Bank” status.
• The Pension Fund Regulatory and Development Authority (PFRDA) released the Master Circular on Investment Guidelines for government-sector pension schemes, including Unified Pension Scheme (UPS), NPS for Central/State Government subscribers, Corporate Government (CG) NPS, NPS Lite, Atal Pension Yojana (APY), and APY Fund Scheme.
• The Union Cabinet has approved the Sabka Bima Sabki Raksha (Amendment of Insurance Laws) Bill, 2025, paving the way for its introduction in Parliament during the Winter Session.
• According to a Reserve Bank of India (RBI) report, Andhra Pradesh has emerged as a top-performing state across agriculture, fisheries, and socio-economic indicators.
• The 7th United Nations Environment Assembly (UNEA-7) was held from 08–12 December 2025 at the UNEP Headquarters in Nairobi, Kenya.
• Raj Kumar Goyal, a 1990-batch IAS officer (AGMUT cadre), was sworn in as the Chief Information Commissioner (CIC) by President Droupadi Murmu at Rashtrapati Bhavan.
• Andrej Babiš, a Slovak-born billionaire businessman and leader of the populist ANO (Action of Dissatisfied Citizens) party, was sworn in as the Prime Minister of the Czech Republic by President Petr Pavel at Prague Castle, Prague.
• The National Council of Applied Economic Research (NCAER) has appointed Suresh Goyal as its 11th Director General, effective January 5, 2026.
• SPARSH (System for Pension Administration – Raksha) is India’s first end-to-end digital pension platform, launched under the Digital India initiative to ensure the Right Pension to the Right Pensioner at the Right Time.
• Veteran Indian National Congress (INC) leader Shamanur Shivashankarappa passed away at the age of 94 in Bengaluru, Karnataka.

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