Daily Current Affairs 26th December 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Clears National Highways Authority of India-Sponsored Raajmarg Infra Investment Trust to Operate as Public InvIT

• National Highways Authority of India (NHAI) has received Securities and Exchange Board of India (SEBI) approval for its sponsored Raajmarg Infra Investment Trust (RIIT) to operate as a public Infrastructure Investment Trust (InvIT).
• The approval strengthens NHAI’s asset monetisation programme, aimed at unlocking value of National Highway assets and creating a long-term investment instrument for retail and domestic investors.
• The Public InvIT (RIIT) seeks to broaden public participation in national highway infrastructure development and support sustainable infrastructure financing.
• NHAI has incorporated Raajmarg Infra Investment Managers Pvt. Ltd. (RIIMPL) as the Investment Manager for RIIT.
• RIIMPL is a collaborative venture with equity participation from major financial institutions including SBI, PNB, NaBFID, Axis Bank, HDFC Bank, ICICI Bank, IDBI Bank, IndusInd Bank, Yes Bank, and Bajaj Finserv Ventures Ltd.
• Shri NRVVMK Rajendra Kumar, Member (Finance), NHAI, will serve as Managing Director and CEO (Additional Charge) of RIIMPL.
• An Infrastructure Investment Trust (InvIT) is a SEBI-regulated trust that pools investor funds to own and operate income-generating infrastructure assets and distributes most of the cash flows to unit holders.

Reserve Bank of India Postpones Phase-2 Rollout of Faster Cheque Clearance System

• Reserve Bank of India (RBI) has deferred Phase-2 of the faster cheque clearance system, earlier scheduled for January 3, 2026, to allow banks additional time for operational readiness and to streamline their backend processes.
• Phase-1, implemented from October 4, 2025, introduced continuous daytime cheque processing, which successfully replaced the decades-old batch-based clearing system (where cheques were cleared only once or twice a day).
• The Phase-2 requirement of approving or rejecting cheques within 3 hours of receipt (T+3 hours) has been postponed until further notice due to technical teething issues observed in some banks during Phase-1.
• Despite the delay of Phase-2, cheque clearance remains significantly faster than before, with Phase-1 enabling settlement within a few hours of presentation instead of the earlier 1–2 business days.
• Revised RBI cheque processing timings (as per the Dec 24, 2025 circular):
• Cheque presentation window: 9:00 AM to 3:00 PM.
• Confirmation/Rejection window: 9:00 AM to 7:00 PM.
• Under the Cheque Truncation System (CTS), cheque processing across India is consolidated into three grids – Chennai, Mumbai, and New Delhi, each serving banks and branches within its specific geographical jurisdiction.

International Financial Services Centres Authority Relaxes Staffing Norms for GHCs and Removes Office Space Requirement for BATF Services

• The International Financial Services Centres Authority (IFSCA) approved major regulatory relaxations to boost ease of doing business and attract global financial services to GIFT IFSC.

Key Highlights :

• Under the IFSCA (Global In-House Centres – GHCs) Regulations, 2025, the earlier 20% cap on transfer of domestic employees to GIFT IFSC has been removed, enabling free deployment of skilled Indian talent, while transfer of existing business operations remains prohibited.
• The reforms aim to strengthen high-value functions such as financial services, technology, risk management, analytics, and compliance within GIFT City.
• Global In-House Centre (GIC) units are now allowed to serve Indian group entities up to 10% of annual revenue, enhancing operational flexibility.
• Third-party service providers are permitted to assist in setting up and operating GICs, lowering entry barriers.
• At present, three GHCs operate in GIFT City: Abans Global Ltd (UK-based subsidiary of Abans Holdings), BA Continuum India Pvt Ltd (non-bank subsidiary of Bank of America), and DWM Solutions India IFSC Pvt Ltd.
• IFSCA also amended the IFSCA (Book-keeping, Accounting, Taxation and Financial Crime Compliance Services) Regulations, 2024, removing the mandatory 60 sq ft per-employee office space norm, thereby reducing fixed costs for service providers.
• There are currently seven BAFT service providers in GIFT IFSC, including Befree Global Services LLP and Awfficacy Global Services IFSC LLP.

Dedicated Freight Corridor Corporation of India Limited & Indian Railway Finance Corporation Seal Landmark ₹10,000 Crore Domestic Refinancing Deal Under Atmanirbhar Bharat

• Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has signed a historic refinancing agreement with Indian Railway Finance Corporation (IRFC) to refinance ₹10,000 crore of foreign currency debt, marking a first-of-its-kind domestic refinancing under the Atmanirbhar Bharat
• The refinanced debt was originally raised from the World Bank for funding the Eastern Dedicated Freight Corridor (EDFC) project, a key national infrastructure initiative.
• The refinancing structure was coordinated among the Ministry of Finance, Ministry of Railways, DFCCIL, IRFC, and the World Bank, reflecting strong inter-institutional collaboration.
• This move is expected to generate savings of about ₹2,700 crore for the Government of India, mainly by reducing foreign exchange risk and interest cost exposure.
• The agreement was signed under the chairmanship of Satish Kumar, Chairman & CEO, Railway Board, highlighting high-level oversight.
• IRFC is a Navratna Public Sector Enterprise under the Ministry of Railways, with Government of India ownership of 86.36%, and acts as the primary financing arm of Indian Railways.

Axis Bank Introduces ‘Digital Merchant Cash Advance Loans’ for Micro, Small, and Medium Enterprises

• Axis Bank Limited, a leading private sector lender in India, has launched a new digital loan product called ‘Digital Merchant Cash Advance Loans’ for Micro, Small, and Medium Enterprises (MSMEs).
• The product is specifically designed to address the cash flow requirements of small merchants, such as retail shopkeepers, who need quick access to working capital for daily operations.
• The loan offers an unsecured credit facility ranging from Rs 2 lakh to Rs 20 lakh to eligible MSMEs, requiring no collateral.
• It is the first-of-its-kind product in the industry that assesses merchant eligibility primarily based on daily cash flows and digital transaction intelligence, rather than conventional financial documents or property-based guarantees.
• The entire process is fully digital, from application to disbursement, allowing instant credit decisions for merchants within minutes of applying.
• The product features an Everyday Installment (EDI) system, enabling shopkeepers and small merchants to repay loans in small daily installments linked to their daily sales, ensuring business stability without the stress of large monthly payments.

About Axis Bank:

• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: “Badhti Ka Naam Zindagi” (A Life of Progress)

New Consumer Price Index and Gross Domestic Product Data Series to Be Rolled Out from February, IIP from May: Government

• The Ministry of Statistics and Programme Implementation (MoSPI) has announced the release of a new series of key macroeconomic indicators with revised base years.

Key Highlights :

• MoSPI held a pre-release consultative workshop on 23 December 2025 at Bharat Mandapam, New Delhi, to discuss the base revision of Gross Domestic Product (GDP), Consumer Price Index (CPI), and Index of Industrial Production (IIP).
• The workshop follows an earlier consultative meeting held on 26 November 2025 in Mumbai, indicating a multi-stage consultation process to ensure statistical reliability.
• A new Consumer Price Index (CPI) series with 2024 as the base year (2024 = 100) will be released on 12 February 2026, incorporating data from e-commerce platforms for the first time.
• The National Accounts Statistics (GDP) series with 2022–23 as the base year is scheduled for release on 27 February 2026, replacing the old 2011–12 base year.
• The revised Index of Industrial Production (IIP) series, also with 2022–23 as the base year, will be released on 28 May 2026.
• The primary objective of the workshop is to share proposed methodological and structural changes, such as the shift to “Double Deflation” for measuring real growth in the GDP series.
• The consultation aims to seek feedback and comments to improve the accuracy, relevance, and usability of official statistics by including new data sources like GSTN and PFMS.
• Participants included eminent economists, bankers, statisticians, financial sector experts, policymakers, data users, and senior officials from Central and State Governments.

Canara HSBC Life Insurance Enters Bancassurance Partnership with Equitas Small Finance Bank

• Canara HSBC Life Insurance Company Limited (Canara HSBC), a Joint Venture (JV) between Canara Bank (51%), HSBC Insurance (26%), and Punjab National Bank (which inherited the stake from OBC), has entered into a strategic bancassurance partnership with Equitas Small Finance Bank (ESFB).
• Under this partnership, Canara HSBC Life will offer a comprehensive suite of products, including life protection, savings, annuity, child, and investment-linked plans (ULIPs), via ESFB’s network of nearly 1,000 banking outlets.
• The collaboration promotes financial inclusion by integrating life insurance with ESFB’s branch and phygital banking model, improving access for customers across Tier 1, 2, and 3 locations, especially in Southern India (Tamil Nadu and Karnataka).
• The initiative aligns with IRDAI’s vision of “Insurance for All by 2047”, which aims to ensure that every Indian citizen has an appropriate life and health cover by the centenary of India’s independence.

About Equitas SFB :

• Headquarters : Chennai, Tamil Nadu
• It was initially established as an NBFC microfinance institution in 2007 and transitioned into a Small Finance Bank in 2016 after receiving a license from the Reserve Bank of India (RBI).

CURRENT AFFAIRS : NATIONAL & STATE NEWS

Cabinet Clears Three New Corridors Under Delhi Metro Phase V(A)

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved Delhi Metro Phase V(A) with a total project cost of ₹12,014.91 crore to enhance urban connectivity and ease of living.
• Phase V(A) will add 16.076 km to the Delhi Metro network, pushing the total network length beyond 400 km, with completion targeted in 3 years.

Key Highlights :

• The project includes three new metro corridors:

1. R.K. Ashram Marg–Indraprastha: 9.913 km (longest corridor)
2. Aerocity–IGD Airport Terminal-1: 2.263 km
3. Tughlakabad–Kalindi Kunj: 3.9 km

• The R.K. Ashram Marg–Indraprastha corridor will provide seamless Central Vista connectivity, linking all Kartavya Bhavans and benefiting about 60,000 office-goers and 2 lakh visitors daily.
• Funding pattern:
• ₹1,759 crore from the Government of India
• ₹1,759 crore from the Government of Delhi
• ₹5,278 crore raised as loans by DMRC, including from international funding agencies (such as JICA).
• The corridors will feature 13 stations, of which 10 stations will be underground and 3 stations elevated.
• The project extends existing lines:
• R.K. Ashram Marg–Indraprastha is an extension of the Botanical Garden–R.K. Ashram Marg corridor (Magenta Line).
• Aerocity–IGD T-1 and Tughlakabad–Kalindi Kunj extend the Aerocity–Tughlakabad corridor (Golden Line), improving airport–South Delhi connectivity.
• These extensions of the Magenta Line and Golden Line aim to reduce road congestion, lower pollution (saving ~33,000 tonnes of $CO_2$ annually), and cut fossil-fuel usage, boosting economic activity.
• Key stations on the R.K. Ashram Marg–Indraprastha section includes Central Secretariat, Kartavya Bhawan, India Gate, War Memorial-High Court, Bharat Mandapam, and Indraprastha.
• Delhi Metro Phase-IV construction (111 km, 83 stations) is underway, with 80.43% civil work completed on priority corridors; they are expected to be completed by December 2026.
• Delhi Metro Rail Corporation (DMRC) currently operates 12 metro lines, covering about 395 km with 289 stations across Delhi-NCR.
• Delhi Metro is the largest metro network in India and one of the largest in the world, handling an average of 65 lakh passenger journeys per day, with a record 81.87 lakh journeys on 8 August 2025 (Raksha Bandhan eve).

43 Young Writers Chosen Under PM-YUVA 3.0 Through Nationwide Selection Process

• Prime Minister’s Scheme for Mentoring Young Authors (PM-YUVA 3.0) Results Announced by the National Book Trust (NBT), India under the Ministry of Education on 24 December 2025, aimed at mentoring young writers and strengthening India’s literary ecosystem.
• The scheme is aligned with the National Education Policy (NEP) 2020, encouraging young authors to contribute to nation-building through original writing and creative ideas.
• 43 young authors below 30 years of age were selected through an All-India contest, representing 22 Indian languages and English, ensuring the highest level of linguistic diversity.
• The selected cohort includes 19 women and 24 men, promoting inclusive and balanced literary development across the country.
• Selected proposals will be developed into books under a six-month mentorship programme guided by eminent scholars and established authors.
• Each selected author will receive a monthly scholarship of ₹50,000 for a period of six months (totaling ₹3 lakh) along with a 10% lifetime royalty on the published book.
• Key themes of PM-YUVA 3.0 include Indian Diaspora and Nation Building, Indian Knowledge Systems, and Makers of Modern India (1950–2025).
• A National Authors’ Camp will be held for the selected winners during the New Delhi World Book Fair (10–18 January 2026), providing exposure and interaction opportunities with international publishers.
• The first set of books under PM-YUVA 3.0 is expected to be published next year, nurturing a new generation of Indian writers as cultural ambassadors of the nation.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Coast Guard Inducts First Indigenous Pollution Control Vessel ‘Samudra Pratap’ Built by Goa Shipyard Limited

• The Indian Coast Guard (ICG) inducted Samudra Pratap, India’s first indigenously designed and built Pollution Control Vessel (PCV), on 23 December 2025.
• The vessel was inducted under the 02 Pollution Control Vessel (PCV) Project of Goa Shipyard Limited (GSL).

Key Highlights :

• Samudra Pratap (Yard 1267) has over 60% indigenous content, directly supporting the Government’s Aatmanirbhar Bharat and Make in India
• It is the largest ship in the Indian Coast Guard fleet, significantly enhancing maritime pollution response, surveillance, and operational reach.
• The vessel measures 114.5 metres in length, 16.5 metres in breadth, and has a substantial displacement of 4,170 tonnes.
• Samudra Pratap is armed with a 30 mm CRN-91 gun and two 12.7 mm stabilised remote-controlled guns with integrated fire control systems for self-defense and law enforcement.
• The ship is equipped with indigenously developed systems such as the Integrated Bridge System (IBS), Integrated Platform Management System (IPMS), and Automated Power Management System (APMS).
• It is the first Indian Coast Guard vessel to feature Dynamic Positioning capability (DP-1), allowing the ship to maintain a fixed position automatically without using anchors.
• The vessel holds FiFi-2 / FFV-2 notation certification and includes a high-capacity external firefighting system for battling offshore fires.
• Samudra Pratap is fitted with advanced oil spill detection and pollution response equipment, including an Oil Fingerprinting Machine, Gyro-stabilised Standoff Active Chemical Detector, and Pollution Control (PC) laboratory equipment.
• The vessel is capable of high-precision pollution response operations, including recovery of viscous oil, analysis of contaminants, and separation of oil from contaminated water at a rate of 300 tonnes per hour.
• It strengthens the Indian Coast Guard’s capability to enforce marine pollution control regulations, conduct search and rescue (SAR), and safeguard India’s Exclusive Economic Zone (EEZ) and beyond.

About ICG :

• Formed : 18 August 1978
• Headquarters : New Delhi
• Director General : Paramesh Sivamani

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

India Set to Take Over Kimberley Process Chairmanship from January 1, 2026

• India has been selected as Chair of the Kimberley Process (KP) from 1 January 2026, marking the third time the country will hold the chairmanship (previously in 2008 and 2019).
• India will assume the role of KP Vice Chair from 25 December 2025, prior to taking over the Chair in 2026.
• The Kimberley Process (KP) is a tripartite international initiative involving governments, the diamond industry, and civil society to prevent trade in conflict diamonds.
• Conflict diamonds are rough diamonds used by rebel groups to finance conflicts against legitimate governments, as defined by UN Security Council resolutions.
• The Kimberley Process Certification Scheme (KPCS) was established under a UN resolution and came into effect on 1 January 2003.
• KP currently has 60 participants (representing 85 countries), with the European Union counted as one participant, together accounting for over 99% of global rough diamond trade.
• India’s selection reflects global trust in India’s commitment to integrity, transparency, and responsible international trade, as stated by Commerce and Industry Minister Shri Piyush Goyal.
• As a major global hub for diamond manufacturing and trade (Surat alone polishes 90% of the world’s diamonds), India’s leadership gains importance amid shifting geopolitics and emphasis on sustainable sourcing.
• During its Chairmanship (2026), India will focus on strengthening governance and compliance, digital certification and traceability, data-driven transparency, and consumer trust in conflict-free diamonds.
• As Vice Chair (2025) and Chair (2026), India will work with all KP participants and observers to enhance rule-based compliance, credibility, and effectiveness of the Kimberley Process.

About Ministry of Commerce & Industry :

• Cabinet Minister : Piyush Goyal
• Minister of State : Jitin Prasada

Saleem Ahmad Takes Over as Chairman & Managing Director of Rail Vikas Nigam Limited

• Saleem Ahmad assumed charge as Chairman and Managing Director (CMD) of Rail Vikas Nigam Limited (RVNL), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Railways (MoR).
• He will hold the position until his superannuation on 30 April 2029 or until further orders, whichever is earlier.
• He succeeded Sukhmal Chand Jain, who had been serving as interim CMD (holding additional charge) after the retirement of Pradeep Gaur on 31 August 2025.
• Saleem Ahmad brings over 35 years of experience (specifically cited as 33+ years in industry filings) in the construction and infrastructure sector, specializing in bridges, tunnels, and sustainable urban mobility.
• During his career, he served as Executive Director (Civil) at Delhi Metro Rail Corporation (DMRC) Limited for over 23 years and contributed to key projects at the Mumbai Port Trust.
• Prior to joining RVNL, he served as Director (Projects) at NBCC (India) Limited, where he led high-impact redevelopment and institutional projects.

About Rail Vikas Nigam Limited :

• Founded : 24 January 2003
• Headquarters : New Delhi, India
• Owner : Government of India (78.20%)
• It is an Indian central Public Sector Undertaking (PSU) which works as the construction arm of the Ministry of Railways for project implementation and transportation infrastructure development.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Paytm Expands Overseas with New Subsidiaries in Indonesia and Luxembourg, Dilutes 49% Stake in UAE Unit

• One97 Communications Limited, the parent company of Paytm, is expanding its global footprint by setting up two wholly owned subsidiaries in Indonesia and Luxembourg through Paytm Cloud Technologies Limited (PCTL).
• Both subsidiaries are step-down units, remaining indirectly 100% owned by One97 Communications, and will operate in the payments and financial services sector.
• The international expansion will leverage licensing arrangements, strategic partnerships, and investments to distribute Paytm’s merchant payments and financial services technology.

Key Highlights :

• Paytm plans to invest up to ₹25 crore in each subsidiary, in one or more tranches, to support overseas operations.
• Paytm Arab Payments LLC (PAPL), the UAE-based subsidiary, is being restructured by bringing in a strategic investor, resulting in stake dilution.
• Abbar Global Opportunities Holdings (AGOHL), an SPV of UAE billionaire Mohamed Ali Rashed Alabbar, will acquire a 49% stake in PAPL, valued at approximately ₹19 crore (AED 7.69 million).
• Post-transaction, PAPL will become a 51%-owned subsidiary of PCTL, ensuring retained majority ownership by Paytm.
• The transaction is expected to close by 28 February 2026, completing Paytm’s international restructuring and expansion plans.
• The move reflects Paytm’s strategy to strengthen international operations, attract global capital, and gain local expertise in the Gulf Cooperation Council (GCC) region.

CURRENT AFFAIRS : MOU & AGREEMENTS

National Test House & Department of Posts Partner to Facilitate Pan-India Sample Collection and Testing

• National Test House (NTH) under the Ministry of Consumer Affairs, Food & Public Distribution signed an MoU with the Department of Posts, Ministry of Communications, Government of India to strengthen consumer protection and expand access to quality testing services.
• The MoU enables nationwide collection of samples (industrial goods, raw materials, consumer products) and ensures their safe, reliable, and timely delivery to NTH laboratories for testing.
• Under the agreement, the Department of Posts will provide doorstep sample pickup and transportation using its extensive postal network covering urban, rural, and remote regions of India.
• Sample testing will be conducted at NTH laboratories located in Kolkata, Ghaziabad, Mumbai, Jaipur, Guwahati, Varanasi, and Chennai.
• The MoU was signed on 24 December 2025 on the occasion of National Consumer Day at Bharat Mandapam, New Delhi.
• The collaboration aims to improve accessibility, affordability, and efficiency of NTH testing services by reducing logistical challenges and turnaround time.
• It is expected to benefit consumers, manufacturers, MSMEs, startups, and businesses, especially those in far-flung and underserved areas that lack high-tech labs.
• The initiative supports ease of doing business, strengthens consumer protection mechanisms, and promotes quality, compliance, and standardisation across sectors.
• The partnership aligns with the vision of Atmanirbhar Bharat, highlighting the role of quality and standardisation in building consumer trust and enhancing global competitiveness.
• It reflects the Government of India’s commitment to citizen-centric service delivery and inter-ministerial cooperation through optimal use of public infrastructure.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Russia Plans Lunar Nuclear Power Plant Deployment by 2036

• Roscosmos plans to construct a power plant on the Moon by 2036 to support its lunar exploration programme and the Russia–China International Lunar Research Station (ILRS).
• The proposed lunar power facility is widely believed to be nuclear, with key involvement from Rosatom (state nuclear energy corp) and the Kurchatov Institute, highlighting advanced energy solutions for space missions.
• Roscosmos has signed a contract with the Lavochkin Association (a major aerospace company) in December 2025 to undertake the development and implementation of the lunar power plant project.
• The lunar power plant will provide energy support to rovers, scientific observatories, and permanent infrastructure, enabling long-term human and robotic presence on the Moon.
• The Moon, located about 384,400 km from Earth, plays a vital role in stabilising Earth’s axial wobble, ensuring a stable climate, and is also responsible for ocean tides.

About Russia :

• President : Vladimir Putin
• Prime Minister : Mikhail Mishustin
• Capital : Moscow
• Currency : Russian ruble

India Commissions Its First Home-Grown Water-Soluble Fertilizer Pilot Plant in Nagpur

• India has achieved a major agricultural innovation milestone with the completion of its first indigenous Water-Soluble Fertilizer (WSF) pilot plant in Nagpur, Maharashtra.
• The pilot plant aims to reduce India’s dependence on imported specialty fertilizers (currently nearly 80–95% imported from China), strengthening agricultural self-reliance.

Key Highlights :

• Phase-I of the WSF pilot plant was inaugurated by Anupam Agnihotri, Director of the Jawaharlal Nehru Aluminium Research Development and Design Centre (JNARDDC) on 22 December 2025.
• The facility was developed through JNARDDC-funded research, highlighting the role of research-driven innovation in solving national bottlenecks.
• The project was completed nearly one month ahead of schedule, reflecting efficient execution and institutional commitment.
• The technology is supported by the Ministry of Mines, indicating government backing for indigenous innovation and the utilization of mineral-based raw materials.
• The WSF technology is based entirely on Indian raw materials and Indian-designed plants, aligning with the Make in India initiative.
• The pilot plant is expected to pave the way for large-scale domestic production of water-soluble fertilizers, turning India from an importer to a potential exporter.
• The development will boost sustainable farming practices (such as fertigation and foliar spray) and enhance productivity in Indian agriculture.
• Overall, the project strengthens India’s agricultural input ecosystem while promoting self-reliance and sustainability through a zero-effluent, emission-free process.

CURRENT AFFAIRS : APPS & PORTALS

Uttarakhand Chief Minister Pushkar Singh Dhami Unveils ‘Meri Yojana’ Welfare Schemes Portal

• Pushkar Singh Dhami, the Chief Minister of Uttarakhand, launched the “Meri Yojana” Portal in Dehradun, Uttarakhand.

Key Highlights :

• Meri Yojana is an online platform (accessible at gov.in) designed to provide comprehensive information on welfare schemes offered by both the Central Government and State Governments.
• The primary aim of the initiative is to increase public awareness of welfare schemes and ensure benefits reach eligible beneficiaries in a time-bound manner.
• The portal seeks to reduce dependency on intermediaries, thereby enhancing transparency and accountability in welfare delivery.
• Meri Yojana Portal strengthens service delivery effectiveness by making scheme-related information easy to understand and accessible in simple language.
• The portal features a comprehensive database of welfare schemes, including scheme details, eligibility criteria, application procedures, and required documents.
• Alongside the portal, three editions of the “Meri Yojana” handbook were launched to support offline access to information for those in remote areas.
• The handbook editions include the General Edition, State Government Edition, and Central Government Edition.

CURRENT AFFAIRS : OBITUARIES

World War II Veteran Ira “Ike” Schab Passed away at 105 in Oregon, USA

• Ira “Ike” Schab, a World War II veteran of the United States, passed away at the age of 105 in Oregon, USA on 20 December 2025.
• He was born on 4 July 1920 in Illinois, USA (specifically Chicago).
• Schab joined the US Navy in 1938 as a sailor and musician (playing the tuba in the ship’s band).
• He was one of the last surviving American servicemen who witnessed the Japanese attack on Pearl Harbor on 7 December 1941.
• During the attack, he served aboard the USS Dobbin, assisting in passing ammunition for anti-aircraft guns amid the chaos.
• Schab went topside in response to a fire rescue call, witnessing Japanese planes attacking and the USS Utah capsizing.
• His service highlights the courage and contributions of American sailors during World War II naval battles.
• Schab’s life represents a living memory of the Pearl Harbor attack, a pivotal event that led to the US entering World War II.

Daily CA One- Liner: December 26

• National Highways Authority of India (NHAI) has received Securities and Exchange Board of India (SEBI) approval for its sponsored Raajmarg Infra Investment Trust (RIIT) to operate as a public Infrastructure Investment Trust (InvIT).
• Reserve Bank of India (RBI) has deferred Phase-2 of the faster cheque clearance system, earlier scheduled for January 3, 2026, to allow banks additional time for operational readiness and to streamline their backend processes.
• The International Financial Services Centres Authority (IFSCA) approved major regulatory relaxations to boost ease of doing business and attract global financial services to GIFT IFSC.
• Dedicated Freight Corridor Corporation of India Limited (DFCCIL) has signed a historic refinancing agreement with Indian Railway Finance Corporation (IRFC) to refinance ₹10,000 crore of foreign currency debt, marking a first-of-its-kind domestic refinancing under the Atmanirbhar Bharat
• Axis Bank Limited, a leading private sector lender in India, has launched a new digital loan product called ‘Digital Merchant Cash Advance Loans’ for Micro, Small, and Medium Enterprises (MSMEs).
• The Ministry of Statistics and Programme Implementation (MoSPI) has announced the release of a new series of key macroeconomic indicators with revised base years.
• Canara HSBC Life Insurance Company Limited (Canara HSBC), a Joint Venture (JV) between Canara Bank (51%), HSBC Insurance (26%), and Punjab National Bank (which inherited the stake from OBC), has entered into a strategic bancassurance partnership with Equitas Small Finance Bank (ESFB).
• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved Delhi Metro Phase V(A) with a total project cost of ₹12,014.91 crore to enhance urban connectivity and ease of living.
• Prime Minister’s Scheme for Mentoring Young Authors (PM-YUVA 3.0) Results Announced by the National Book Trust (NBT), India under the Ministry of Education on 24 December 2025, aimed at mentoring young writers and strengthening India’s literary ecosystem.
• The Indian Coast Guard (ICG) inducted Samudra Pratap, India’s first indigenously designed and built Pollution Control Vessel (PCV), on 23 December 2025.
• India has been selected as Chair of the Kimberley Process (KP) from 1 January 2026, marking the third time the country will hold the chairmanship (previously in 2008 and 2019).
• Saleem Ahmad assumed charge as Chairman and Managing Director (CMD) of Rail Vikas Nigam Limited (RVNL), a Navratna Central Public Sector Enterprise (CPSE) under the Ministry of Railways (MoR).
• One97 Communications Limited, the parent company of Paytm, is expanding its global footprint by setting up two wholly owned subsidiaries in Indonesia and Luxembourg through Paytm Cloud Technologies Limited (PCTL).
• National Test House (NTH) under the Ministry of Consumer Affairs, Food & Public Distribution signed an MoU with the Department of Posts, Ministry of Communications, Government of India to strengthen consumer protection and expand access to quality testing services.
• Roscosmos plans to construct a power plant on the Moon by 2036 to support its lunar exploration programme and the Russia–China International Lunar Research Station (ILRS).
• India has achieved a major agricultural innovation milestone with the completion of its first indigenous Water-Soluble Fertilizer (WSF) pilot plant in Nagpur, Maharashtra.
• Pushkar Singh Dhami, the Chief Minister of Uttarakhand, launched the “Meri Yojana” Portal in Dehradun, Uttarakhand.
• Ira “Ike” Schab, a World War II veteran of the United States, passed away at the age of 105 in Oregon, USA on 20 December 2025.

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