Daily Current Affairs 12th December 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

National Bank for Agriculture and Rural Development’s 8th Rural Economic Conditions and Sentiments Survey Round Confirms Broad Revival in Rural Demand and Rising Incomes

• The 8th round of National Bank for Agriculture and Rural Development’s (NABARD) Rural Economic Conditions and Sentiments Survey (RECSS) shows clear evidence of a broad-based revival in rural demand, along with rising incomes and improved household well-being over the past year.

Key Highlights :

• RECSS is a high-frequency, bi-monthly survey conducted by NABARD since September 2024, now providing a year-long dataset for analysing rural economic conditions and household sentiments.
• Over the past year, rural economic fundamentals strengthened due to robust consumption, higher incomes, moderating inflation, and healthier financial behaviour, supported by welfare schemes and public investment.
• Nearly 80% of rural households reported higher consumption, and 67.3% of income is spent on consumption — the highest ever, aided by GST rate rationalisation, indicating strong and broad-based demand.
• 42.2% of households experienced income growth, the highest since RECSS began, while only 15.7% saw any income decline, and 75.9% expect incomes to rise next year, reflecting strong optimism.
• 29.3% of rural households increased capital investment, the highest across all rounds, showing renewed asset creation driven by higher income and consumption rather than credit pressure.
• 3% of households accessed only formal credit sources, the highest recorded so far, although informal credit still accounts for around 20%, indicating the need for deeper formal credit access.
• Government transfers contribute 10% of monthly income through subsidies for food, electricity, water, LPG, fertilizers, school support, pensions, and transport, and in some cases exceed 20%, supporting demand without causing dependency.
• Perceived inflation has fallen to 3.77%, below 4% for the first time since survey inception, with 84.2% perceiving inflation at or below 5%, boosting real income and purchasing power.
• Lower inflation and moderated interest rates have reduced the income share used for loan repayment, while 29.3% of households undertook new capital investments, the highest in the survey’s history.
• RECSS is conducted every two months across India, capturing both quantitative indicators and household perceptions on income, consumption, inflation, credit, investment, and future expectations.

Reserve Bank of India Clears State Bank of India and Bank of Baroda to Establish Digital Payments Intelligence Platform

• The State Bank of India (SBI) and Bank of Baroda (BoB) received Reserve Bank of India (RBI) approval to set up a new entity for a Digital Payments Intelligence Platform.
• The new company, named Indian Digital Payment Intelligence Corporation (IDPIC), will be established as a Section 8 company under the Companies Act, 2013.
• The purpose of IDPIC is to detect and prevent fraudulent digital transactions across public sector banks by acting as a central intelligence hub for real-time data sharing and fraud pattern analysis.
• The Finance Ministry granted an exemption permitting both SBI and BoB to hold over 30% stake in the new company, valid until 16 October 2026.
• All 12 public sector banks are expected to take equity stakes in the newly created entity.
• IDPIC will be launched with an authorised capital of Rs 500 crore and a paid-up capital of Rs 200 crore.

Reserve Bank of India Permits Rupee Interest Rate Derivative Transactions for Both Residents and Non-Residents

• The Reserve Bank of India (RBI) issued the Master Direction ‘Rupee Interest Rate Derivatives (IRD) Directions, 2025’, permitting residents and non-residents to undertake rupee-denominated Interest Rate Derivative (IRD) transactions effective 1 March 2026.
• These directions are issued under Section 45W of the RBI Act, 1934, enabling regulatory powers for rupee IRD transactions.

Key Highlights :

• The directions apply to Rupee IRD transactions undertaken in both the Over-the-Counter (OTC) market and on recognised stock exchanges in India.
• Recognised exchanges may introduce new IRD products only after obtaining prior RBI approval, ensuring regulatory oversight.
• Any floating interest rate, price or index for exchange-traded IRDs must be a benchmark published by an authorised Financial Benchmark Administrator (FBA).
• RBI designates eligible market-makers including Scheduled Banks, Standalone Primary Dealers (SPDs), Non-Banking Finance Company-Upper Layer (NBFC-UL), and specialised banks like Export-Import Bank of India (EXIM Bank); National Bank for Agriculture and Rural Development (NABARD).
• Market-makers must classify participants into Retail and Non-Retail users, ensuring differentiated regulatory treatment.
• Retail users may trade only simple IRDs for hedging and are allowed to buy options only, ensuring lower risk participation.
• Non-retail users face no purpose restrictions and may trade complex IRDs including swaptions, reflecting higher sophistication.
• RBI sets a cap on Price Value of a Basis Point (PVBP) for non-resident positions, limiting total outstanding positions to Rs 1,000 crore.
• Market-makers must report all global OTC IRD trades to the Trade Repository (TR) operated by Clearing Corporation of India Limited (CCIL), ensuring transparency.
• RBI also specifies position limits for non-residents in exchange-traded IRDs, where FPIs and other non-residents cannot hold net long positions above Rs 5,000 crore across all interest-rate futures.
• The OTC market refers to derivative transactions executed outside recognised exchanges, including through electronic trading platforms (ETPs).
• A market-maker is an entity that quotes prices and provides liquidity, facilitating smooth trading in IRDs.

Wise Unveils No-Fee Multi-Currency Travel Card for Indian Travellers

• Wise, a global money movement company, has launched the Wise Travel Card in India, targeting travellers seeking transparent pricing and ease of use abroad.
• The card was first announced at the Global Fintech Festival (GFF) 2025 held in Mumbai, Maharashtra.

Key Features and Charges

• Issuance Fee Waiver: Wise has waived the ₹460 issuance fee for sign-ups until 10 February 2026; the card has no annual fees, no subscription charges, and no inactivity fees.
• Multi-Currency Support: The card supports 40+ currencies, including Vietnam, Indonesia, Turkey, and Georgia.
• Digital Onboarding: Onboarding is fully digital via DigiLocker and video KYC.
• The card offers an instant digital card, IMPS-based account top-ups, and in-app controls for security.
• Global Acceptance: It is accepted on the Visa Network in 160+ countries.
• ATM Withdrawal Limit: Users get free ATM withdrawals up to USD 200 per month, after which standard charges apply.

India’s Travel Market Context

• Overseas Departures: India recorded 3.89 crore overseas departures in 2024, driven by leisure travel (42.5%), diaspora visits (34.7%), and business travel (14.9%).
• LRS Spending: Under the Liberalised Remittance Scheme (LRS), Indians spent USD 3–4 billion annually before FY22, rising sharply to USD 17 billion annually in the last two years.

Bank of Baroda Named ‘Best Bank in India’ at The Banker’s 2025 Asia-Pacific Awards

• Bank of Baroda (BoB) has been awarded the ‘Best Bank in India’ at The Banker’s “Bank of the Year Awards 2025 – Asia-Pacific”.
• The award recognised BoB for enhancing customer experience through phygital branches that combine digital and in-person banking services.
• These phygital branches enable customers to quickly access statements, income tax certificates, nominee updates, and video-call support for loans such as home, car and term deposits.
• BoB expanded customer support by opening 184 new branches across India to strengthen on-ground service delivery.
• The bank introduced Smart OD (Overdraft) to support small businesses, enabling fast working-capital loans based on GST data and current account information.
• Through digital verification, business financing can be approved in less than 24 hours, improving financial inclusion for enterprises previously lacking access.

About Bank of Baroda (BoB):

• Founded: 1908
• Headquarters: Vadodara, Gujarat, India
• Managing Director & CEO: Debadatta Chand
• Tagline: “India’s International Bank”

Nationwide ‘Your Money, Your Right’ Campaign Facilitates Settlement of ₹2,000 Crore Unclaimed Money

• The Ministry of Finance (MoF) announced the progress of the nationwide campaign “Aapki Poonji, Aapka Adhikar – Your Money, Your Right”, conducted from 4 October to 5 December 2025 to settle unclaimed financial assets.
• In the first two months, around ₹2,000 crore in unclaimed funds were successfully reclaimed by rightful owners.
• The campaign’s objective is to facilitate settlement of unclaimed bank deposits, insurance proceeds, dividends, shares, mutual funds, and pension amounts.
• The campaign follows the 3A Framework – Awareness, Accessibility, and Action for resolving unclaimed assets.
• District-level camps were held in 477 districts across India during the campaign period.
• Awareness materials including Standard Operating Procedures (SOPs), Frequently Asked Questions (FAQs) and multilingual content were widely disseminated for public understanding.
• The camps provided digital demonstrations, helpdesks, and claim guidance to support citizens.
• Multiple regulatory platforms such Reserve Bank of India (RBI)’s Unclaimed Deposits – Gateway to Access inforMation (UDGAM), Insurance Regulatory and Development Authority of India (IRDAI)’s Bima Bharosa, Securities and Exchange Board of India (SEBI)’s Mutual Fund Investment Tracing and Retrieval Assistant (MITRA), Pension Fund Regulatory and Development Authority (PFRDA) systems, and Investor Education and Protection Fund Authority (IEPFA) portals were utilized for tracing unclaimed assets.

Telecom Regulatory Authority of India Launches Digital Consent Acquisition Pilot with RBI for Reviewing Promotional Message Consents

• The Telecom Regulatory Authority of India (TRAI) announced the TRAI–Reserve Bank of India (RBI) Digital Consent Acquisition pilot, under which select customers will receive SMS alerts from telecom operators to review their promotional communication consents.
• The pilot aims to digitise and standardise the process of giving, viewing, and revoking consent for promotional messages, addressing long-standing issues with paper-based or non-standard digital consents.
• Nine telecom operators and eleven major banks including SBI, PNB, Axis Bank, Bank of Maharashtra, Canara Bank, Kotak Mahindra Bank, IndusInd Bank, ICICI Bank, HDFC Bank, Indian Overseas Bank, and Punjab & Sind Bank are participating in the pilot.
• Banks have started uploading sample legacy consents, and only a small group of customers will receive SMS notifications from short code 127000 for testing purposes.
• Customers can choose to continue, change, or revoke consents via a secure link, and no personal or financial details will be asked during the process.

Sahaj Insurance Obtains Insurance Regulatory Development Authority of India Approval for Corporate Agency Licence

• Sahaj Insurance Services Private Limited, a subsidiary of Sahaj Retail Limited.,has secured a Corporate Agency Licence from Insurance Regulatory Development Authority of India (IRDAI), enabling it to solicit and distribute insurance products on behalf of underwriting insurers.
• The company will focus on offering low-premium, high-relevance insurance policies for households in agrarian and informal sectors, covering life, health, accident, crop, livestock, and micro-insurance.
• Sahaj Insurance will collaborate with leading insurers to deliver affordable protection solutions to rural and underserved populations.
• The company operates through Village Level Entrepreneurs (VLEs), known as Sahaj Mitrs, who provide digital services including e-governance access, digital payments, and mobile banking in remote communities.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Telangana Rising Global Summit 2025 Secures ₹5.75 Lakh Crore Investment Commitments

• Telangana achieved a major economic milestone as the Telangana Rising Global Summit 2025 concluded with ₹5.75 lakh crore investment commitments, showcasing the State’s push toward energy transition, AI- driven data infrastructure, smart urbanisation, and next-generation technologies.
• The summit highlighted Telangana’s strategy to position itself as an innovation-led growth hub, with participation from global investors, policymakers, and industry leaders.
• Telangana aims to expand beyond Hyderabad’s IT strengths into advanced energy systems, AI-based data centre ecosystems, integrated future-ready urban zones, and skill transformation initiatives through proactive policies and streamlined investor facilitation.
• Nearly 50% of the ₹5.75 lakh crore investments were secured by the energy sector, focused on renewable energy clusters, battery storage, green hydrogen-ready ecosystems, and industrial power corridors, supporting India’s decarbonisation goals.
• Major data centre announcements included:
  • Infrakey Datacenter Parks: 1 GW AI data centre, investment ₹70,000 crore
  • AGIDC (Singapore): investment ₹67,500 crore, to build an international gateway data centre enhancing global cloud connectivity
    These commitments significantly boost Telangana’s role as an AI and cloud technology hub.
• Urban development investments featured prominently, including JCK Infra’s Integrated AI City in Bharat Future City, with an investment of ₹9,000 crore, comprising residential, commercial, innovation, and AI research zones.
• During the valedictory session, the Chief Minister released the Telangana Rising Vision 2047 Document, prepared with support from NITI Aayog and ISB, outlining long-term economic targets:
  • $1 trillion economy by 2034
  • $3 trillion economy by 2047
• Vision 2047 focuses on inclusive and sustainable growth, educational reforms, youth-centric programmes, global-standard infrastructure, and plans for a Sports University to strengthen talent development.
• The roadmap reflects Telangana’s ambition to emerge as a globally competitive knowledge and innovation economy by 2047.

About Telangana:

• Capital: Hyderabad
• Governor: Jishnu Dev Varma
• Chief Minister: Anumula Revanth Reddy
• National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife Sanctuary

RECENT NEWS

• In a decisive move to position itself at the forefront of emerging technologies, the Government of Telangana has announced the creation of the Telangana Artificial Intelligence Innovation Hub (TAIH) in Hyderabad.

Global AI Conclave 2025 to Be Held in Chennai

• India is positioning itself as a global thought leader in responsible Artificial Intelligence (AI) through the Global AI Conclave 2025, jointly hosted by Indian Institute of Technology (IIT) Madras and the India AI Mission in Chennai.
• The conclave reinforces India’s focus on safe, trusted, and inclusive AI, guided by the Ministry of Electronics and Information Technology (MeitY).
• The event acts as a precursor to the India-AI Impact Summit 2026, one of the world’s major platforms on AI governance and innovation.
• The conclave comes at a critical time as global AI adoption grows, raising concerns related to AI safety, ethical use, and accountability.
• India aims to develop globally interoperable yet locally-suited AI governance frameworks, considering its diverse socio-economic and linguistic landscape.
• The conclave will help translate high-level AI principles into practical and implementable governance tools.
• It will feature keynotes, expert panels, and working discussions aligned with India’s vision of trustworthy and equitable AI access.
• A major focus is on advancing AI safety and governance frameworks, including adapting broad guidelines into feasible regulatory models across different cultural and legal environments.
• A key proposal is establishing an AI Safety Commons for the Global South, offering:
  • Shared datasets
  • Benchmarking tools
  • Open governance resources
• The AI Safety Commons aims to promote safer and reliable AI development, lowering barriers for emerging economies and research institutions.
• The conclave highlights the need for AI frameworks that are globally scalable yet locally relevant, supporting:
  • Public-sector AI adoption
  • Industry readiness
  • Ethical innovation in academic and civil society sectors
• The event includes participation from government policymakers, industry leaders, AI innovators, academic researchers, and civil society representatives, ensuring a multi-stakeholder dialogue.
• The conclave directly connects to the India-AI Impact Summit 2026, scheduled from 15–20 February 2026 at Bharat Mandapam, New Delhi.
• The summit, hosted in the Global South for the first time, reflects India’s increasing influence in global AI governance.
• Outcomes from the Chennai conclave will shape the agenda for the 2026 summit, especially on AI safety, inclusion, innovation, and global policy harmonization.

About Tamil Nadu:

• Capital: Chennai
• Chief Minister: K. Stalin
• Governor: N. Ravi
• National Parks: Mudumalai National Park, Mukurthi National Park, Gulf of Mannar Marine National Park, Indira Gandhi (Anamalai) National Park, Guindy National Park
• Wildlife Sanctuaries: Vedanthangal Bird Sanctuary, Vettangudi Bird Sanctuary, Kalakad Wildlife Sanctuary, Sathyamangalam Wildlife Sanctuary, Vallanadu Wildlife Sanctuary, Megamalai Wildlife Sanctuary, Point Calimere Wildlife Sanctuary

India Post Inaugurates Kerala’s First Gen-Z Post Office Extension Counter at CMS College, Kottayam

• India Post inaugurated Kerala’s first Gen-Z Post Office Extension Counter at CMS College, Kottayam.
• The counter was inaugurated by Shri N.R. Giri, Director Postal Services, Kerala Central Region.
• The initiative aims to make postal services modern, youth-centric, accessible, and aligned with Gen-Z lifestyles.
• India Post is modernising its network to stay relevant in the digital era by blending heritage with innovation.
• CMS College, known as the “Land of Letters” and one of India’s oldest institutions, provides a suitable campus environment for this student-focused model.
• The concept is based on the philosophy: “Of the students, by the students, for the students.”
• The Gen-Z counter is designed like a work café, green space, creative hub, and community zone, rather than a traditional postal point.
• Features include nature-themed seating, picnic tables, vertical garden elements, and recycled tyre furniture.
• A work-friendly ledge with charging ports enables students to study while accessing postal services.
• A recreation and relaxation section includes a mini-library, board games, and an indoor reading nook.
• A fully equipped MPCM counter offers packaging materials, booking services, and MyStamp personalised postage printing.
• The space is decorated with student-created artwork representing India Post, CMS heritage, Kerala culture, and nature.
• The initiative demonstrates youth-centric public service innovation by transforming government service delivery into an interactive and community-oriented experience.
• It promotes sustainability through recycled materials and green design.
• It sets a new model for campus postal services, combining service delivery with learning, creativity, and collaboration.
• The project strengthens India Post’s modern identity, making it more appealing and convenient for Gen-Z users.
• An MPCM (Multi-Purpose Counter Machine) provides digital services such as Speed Post, parcel bookings, postal stationery, philatelic services like MyStamp, bill payments, and savings bank transactions.
• The MPCM ensures fast, accurate, and customer-friendly service delivery at campus locations.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

CURRENT AFFAIRS : INTERNATIONAL NEWS

Australia Enforces Global First Ban on Social Media for Under-16 Users

• Australia has begun enforcing a world-first ban preventing children under 16 from using major social media platforms like TikTok, Instagram, and YouTube.
• Under the law, 10 major platforms, including TikTok, Meta’s Instagram, and Alphabet’s YouTube, must bar underage users or face a fine of up to A$49.5 million ($33 million).
• Parents and children will not be punished, but tech companies could face fines up to $32 million for any breach under the new law.
• The Australian internet regulator, eSafety Commissioner, will require all affected platforms to report numbers of under-16 accounts on the days before and after the ban went live.
• Countries including the US, France, Denmark, and Malaysia are observing the rollout and may adopt similar laws in the future.

About Australia :

• Prime Minister : Anthony Albanese
• Capital : Canberra
• Currency : Australian dollar

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Bank of Baroda Rolls Out ‘Masterstroke’ Campaign Featuring Sachin Tendulkar

• Bank of Baroda (BoB) launched a new advertising campaign featuring cricketer Sachin Tendulkar as its global brand ambassador.
• The campaign promotes four key retail products — home loans, car loans, MSME loans via bob Digi Udyam, and the bob Masterstroke Lite Savings Account.
• It builds on last year’s theme ‘Play The Masterstroke’, focusing on helping customers make smart and informed financial decisions.
• The campaign uses a 360-degree media strategy across television, print, social media, radio, outdoor, and cinema to ensure pan-India reach.
• Bank of Baroda, founded in 1908, is majority-owned by the Government of India with a 97% stake.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

ICICI Bank Buys Additional 2% Stake in ICICI AMC for ₹2,140 Crore

• ICICI Bank signed a Share Purchase Agreement (SPA) with Prudential Corporation Holdings Limited. (PCHL) to acquire an additional 2% stake in ICICI Prudential Asset Management Company Limited (ICICI AMC) for ₹2,140 crore.
• The acquisition aims to safeguard ICICI Bank’s majority control in case of stock-based compensation issued by the AMC.
• After the deal, ICICI Bank’s stake in ICICI AMC increased to 53%, while PCHL’s stake reduced to 47%.
• The purchase is based on shareholder approval given at the 31st Annual General Meeting (AGM) (Aug 2025) and Reserve Bank of India (RBI) approval via a letter dated 12 September 2025 permitting the bank to raise its stake by up to 2%.

JSW Paints Completes Acquisition of 61.2% Stake in Akzo Nobel India

• JSW Paints has completed the acquisition of a 60.76% stake in Akzo Nobel India (ANIL) from Akzo Nobel N.V., bringing its total holding to 61.2% including the earlier 0.44% acquired through an open offer.
• This acquisition is one of the largest in India’s paints and coatings industry.
• ANIL, known for the Dulux brand, has a strong presence in India’s decorative and industrial paints market.
• Morgan Stanley served as the exclusive financial advisor to JSW Paints, Khaitan & Co. acted as legal advisor, and Deloitte conducted financial and tax due diligence.
• CEO of AkzoNobel : Greg Poux-Guillaume
• Chairman of JSW Group : Sajjan Jindal.

CURRENT AFFAIRS: AWARDS AND HONOURS

TIME Names Neal Mohan as “2025 CEO of the Year”

• TIME magazine has named Neal Mohan, the Indian-origin CEO of YouTube, as the “2025 CEO of the Year.”
• His recognition reflects innovation-driven leadership, marked by technical excellence, empathy, and strategic foresight.
• Neal Mohan was born to Indian parents and grew up in an environment that emphasized discipline, academic excellence, and curiosity.
• He pursued higher education at Stanford University, completing:
  • B.S. in Electrical Engineering
  • MBA from Stanford Graduate School of Business
  • Graduated as an Arjay Miller Scholar, an honour for top-performing students.
• He began his career at Accenture, gaining experience in consulting and enterprise processes.
• Mohan later joined DoubleClick, where he became deeply involved in online advertising systems.
• After a short strategy role at Microsoft, he returned to DoubleClick.
  When Google acquired DoubleClick in 2007, Mohan moved into Google’s leadership team.
• At Google, he played a major role in:
  • Building scalable digital advertising technologies
  • Expanding Google’s ad product offerings
  • Managing large product portfolios with a user-first approach
• In 2015, he joined YouTube as Chief Product Officer (CPO) and led major innovations, including:
  • Growth of YouTube Shorts
  • Expansion of YouTube TV
  • Stronger monetization tools for creators
  • Improved digital wellbeing and content moderation
• He became CEO of YouTube in 2023, leading the platform during a transformative global media era.
• TIME’s recognition highlights:
  • The growing impact of Indian-origin leaders globally
  • The importance of ethical and creator-centric tech leadership
  • Confidence in YouTube’s direction amid rising global competition
  • Inspiration for youth in technology, AI, and digital media

CURRENT AFFAIRS: SPORTS NEWS

Jasprit Bumrah Becomes First Indian Bowler to Take 100 Wickets in All Three Formats

• Jasprit Bumrah created history becoming the first Indian bowler to take 100 wickets in Tests, ODIs, and T20Is.
• The milestone was achieved during the 1st T20I vs South Africa at the Barabati Stadium, Cuttack, where he dismissed Dewald Brevis for his 100th T20I wicket, later adding one more.
• With this feat, Bumrah joins the elite 100-100-100 club, becoming only the fifth bowler in world cricket to do so.
• The exclusive group includes: Tim Southee, Lasith Malinga, Shakib Al Hasan, Shaheen Shah Afridi, and Jasprit Bumrah.
• Career tally after the match:
  • Tests: 234 wickets in 52 matches
  • ODIs: 149 wickets in 89 matches
  • T20Is: 101 wickets in 81 matches
    These figures reflect Bumrah’s consistency, adaptability, and mastery across formats.
• The achievement highlights his longevity, fitness, and exceptional ability to excel in diverse conditions using skills like yorkers, late-overs precision, and an unorthodox action.
• On India’s all-time T20I wicket-takers list after this match:
  • Arshdeep Singh – 107 wickets
  • Jasprit Bumrah – 101 wickets
  • Hardik Pandya – 99 wickets
  • Yuzvendra Chahal – 96 wickets
  • Bhuvneshwar Kumar – 90 wickets
• With current form, Bumrah is positioned to soon challenge for the India No.1 T20I wicket-taker spot.

India to Host Squash World Cup 2025 in Chennai

• India will host the Squash World Cup 2025 for the third consecutive time at the SDAT Stadium, Chennai, from 10–14 December 2025.
• Chennai, known as the “Home of Indian Squash,” continues to strengthen its global presence with strong support from the Squash Rackets Federation of India (SRFI) and Tamil Nadu’s sports authorities.
• The Squash World Cup is an international mixed-team tournament featuring four-player squads—two men and two women.
• The event uses an innovative scoring system introduced in 2023, with a first-to-seven points format and a sudden-death tiebreak at 6–6, making matches faster and spectator-friendly.
• India hosting the event for the third time reflects:
  • Rising popularity of squash in India
  • Strong administrative and infrastructural backing
  • Chennai’s proven success in organizing major racquet sports events
• A total of 12 nations will participate, including:
  • India (hosts)
  • Egypt (defending champions)
  • Malaysia (2023 runners-up)
• Each team consists of two male and two female players, following the mixed-team format.
• Past performance:
  • 2023 Champions: Egypt defeated Malaysia
  • India’s 2023 Result: Finished third (India’s best-ever finish)
  • Most Successful Team: Egypt with two titles
• First Squash World Cup: Held in 1996 in Malaysia, with Australia winning the inaugural edition.
• The 2025 edition holds importance for India as it aims to further enhance squash visibility and challenge top global teams.

33rd Southeast Asian Games (SEA Games) 2025 – Began on 9th December in Thailand

• The 33rd Southeast Asian Games (SEA Games 2025) officially began in Thailand, marking the start of one of Southeast Asia’s biggest multi-sport events.
• The Games are hosted across Bangkok and Chonburi province, with the Opening Ceremony held at the Rajamangala National Stadium.
• Thailand is hosting over 13,000 athletes, showcasing the growing scale and importance of the SEA Games in the region’s sports ecosystem.
• A total of 11 Southeast Asian countries are participating:
  Thailand, Malaysia, Indonesia, Cambodia, Philippines, Singapore, Myanmar, Vietnam, Lao People’s Democratic Republic, Brunei Darussalam, and Democratic Republic of Timor-Leste.
• The event reinforces regional unity, cultural pride, and strong diplomatic and social ties among Southeast Asian nations.
• Athletes will compete in 50 medal sports, including:
  • Olympic disciplines like athletics, swimming, badminton, and football.
  • Traditional Southeast Asian sports that highlight regional culture and heritage.
• The Games blend global sporting relevance with cultural identity, offering a platform for emerging athletes while preserving traditional sports of the region.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

IIT-Bombay’s SINE Unveils India’s First Deep-Tech VC Fund Backed by an Incubator

• The Society for Innovation and Entrepreneurship (SINE) at Indian Institute of Technology-Bombay (IIT-B), Mumbai,Maharashtra launched ‘Y-Point Venture Capital (VC) Fund’, India’s 1st deep-tech VC fund managed by an academia-linked incubator, with a total investment of ₹250 crore.
• The fund aims to support deep-tech startups in India by providing early-stage risk capital.
• The Y-Point VC Fund is SEBI-approved and registered as a Category-II Alternative Investment Fund (AIF).
• The fund will invest in 25–30 pre-seed and seed-stage startups from IIT-B and other top research institutes, with a maximum ticket size of ₹15 crore.
• Priority investment areas include Artificial Intelligence (AI), advanced computing, nuclear technology, life sciences, healthcare, defence, climate tech, and space technology.

IIT Madras Inaugurates IITM C-DOT Samgnya Technologies Foundation as India’s National Quantum Communication Hub

• The Indian Institute of Technology, Madras (IITM) launched the IITM C-DOT Samgnya Technologies Foundation, which will function as India’s National Hub for Quantum Communication.
• The hub was inaugurated by DST Secretary Abhay Karandikar, along with senior IIT Madras officials including the Director and Project Director.
• The foundation focuses on Quantum Cryptography, Post-Quantum Security, Quantum Key Distribution (QKD), Quantum Memory, Quantum Repeaters, and Satellite-based Quantum Communication.
• The hub is one of the most well-funded centres under the National Quantum Mission (NQM), which has an outlay of ₹6003.65 crore for eight years.
• Under NQM, four Thematic Hubs (T-Hubs) were established in FY 2024–25, incorporated as Section-8 companies with their own Hub Governing Boards (HGBs).
• The IITM C-DOT Foundation will serve as a national centre for quantum-secure communication, enabling R&D, pilot deployments, and collaborations with academia, industry, start-ups, and global partners.
• The hub aims to position India as a global leader in Quantum Secure Communications through development of advanced technologies within the next five years.
• DST leadership highlighted that the Quantum Communication Hub and Quantum Sensing Hub are expected to deliver high-impact technological outcomes.
• Liberal funding under national missions has enabled support for deep-tech start-ups, with several receiving assistance through cyber-physical systems initiatives.

CURRENT AFFAIRS : OBITUARIES

Simone Tata, who shaped India’s iconic beauty brand Lakmé, passed away at 95

• Simone Tata, the Swiss-born business leader who built Lakmé, passed away in Mumbai at 95 years of age.
• She played a pivotal role in creating India’s leading cosmetics brand Lakmé, a Tata venture initiated on PM Jawaharlal Nehru’s request to reduce dependence on imported cosmetics.
• Simone Tata joined the business in 1961 and led Lakmé’s major expansion, approving iconic marketing campaigns such as “Is it bad to look good?” which helped normalise makeup in India.
• After Lakmé was sold to HUL in 1996, she reinvested the proceeds to acquire Littlewoods and launched Westside, establishing Trent as a highly successful retail enterprise under the Tata Group.

CURRENT AFFAIRS: IMPORTANT DAYS

Universal Health Coverage (UHC) Day 2025 – Observed on 12th December

• Universal Health Coverage Day 2025 is observed on 12th December to promote access to quality health services without financial hardship.
• The first healthcare system was established in 1883 by German Chancellor Otto von Bismarck.
• Bismarck introduced the ‘Bismarckian system’, an insurance-based healthcare model requiring mandatory medical insurance, similar to modern non-profit health-insurance systems.
• Universal Health Coverage Day was initially promoted by the World Health Organization (WHO), the UN body responsible for international public health.
• In December 2012, the United Nations General Assembly (UNGA) passed a resolution urging countries to accelerate progress toward universal healthcare.

Daily CA One- Liner: December 12^th

• Telangana achieved a major economic milestone as the Telangana Rising Global Summit 2025 concluded with ₹5.75 lakh crore investment commitments, showcasing the State’s push toward energy transition, AI- driven data infrastructure, smart urbanisation, and next-generation technologies.

• The 8th round of National Bank for Agriculture and Rural Development’s (NABARD) Rural Economic Conditions and Sentiments Survey (RECSS) shows clear evidence of a broad-based revival in rural demand, along with rising incomes and improved household well-being over the past year.
• The State Bank of India (SBI) and Bank of Baroda (BoB) received Reserve Bank of India (RBI) approval to set up a new entity for a Digital Payments Intelligence Platform.
• The Reserve Bank of India (RBI) issued the Master Direction ‘Rupee Interest Rate Derivatives (IRD) Directions, 2025’, permitting residents and non-residents to undertake rupee-denominated Interest Rate Derivative (IRD) transactions effective 1 March 2026.
• Wise, a global money movement company, has launched the Wise Travel Card in India, targeting travellers seeking transparent pricing and ease of use abroad.
• Bank of Baroda (BoB) has been awarded the ‘Best Bank in India’ at The Banker’s “Bank of the Year Awards 2025 – Asia-Pacific”.
• The Ministry of Finance (MoF) announced the progress of the nationwide campaign “Aapki Poonji, Aapka Adhikar – Your Money, Your Right”, conducted from 4 October to 5 December 2025 to settle unclaimed financial assets.
• The Telecom Regulatory Authority of India (TRAI) announced the TRAI–Reserve Bank of India (RBI) Digital Consent Acquisition pilot, under which select customers will receive SMS alerts from telecom operators to review their promotional communication consents.
• Sahaj Insurance Services Private Limited, a subsidiary of Sahaj Retail Limited.,has secured a Corporate Agency Licence from Insurance Regulatory Development Authority of India (IRDAI), enabling it to solicit and distribute insurance products on behalf of underwriting insurers.
• Australia has begun enforcing a world-first ban preventing children under 16 from using major social media platforms like TikTok, Instagram, and YouTube.
• Bank of Baroda (BoB) launched a new advertising campaign featuring cricketer Sachin Tendulkar as its global brand ambassador.
• ICICI Bank signed a Share Purchase Agreement (SPA) with Prudential Corporation Holdings Limited. (PCHL) to acquire an additional 2% stake in ICICI Prudential Asset Management Company Limited (ICICI AMC) for ₹2,140 crore.
• JSW Paints has completed the acquisition of a 60.76% stake in Akzo Nobel India (ANIL) from Akzo Nobel N.V., bringing its total holding to 61.2% including the earlier 0.44% acquired through an open offer.
• The Society for Innovation and Entrepreneurship (SINE) at Indian Institute of Technology-Bombay (IIT-B), Mumbai,Maharashtra launched ‘Y-Point Venture Capital (VC) Fund’, India’s 1st deep-tech VC fund managed by an academia-linked incubator, with a total investment of ₹250 crore.
• The Indian Institute of Technology, Madras (IITM) launched the IITM C-DOT Samgnya Technologies Foundation, which will function as India’s National Hub for Quantum Communication.

• Simone Tata, the Swiss-born business leader who built Lakmé, passed away in Mumbai at 95 years of age.
• India is positioning itself as a global thought leader in responsible Artificial Intelligence (AI) through the Global AI Conclave 2025, jointly hosted by Indian Institute of Technology (IIT) Madras and the India AI Mission in Chennai
• India Post inaugurated Kerala’s first Gen-Z Post Office Extension Counter at CMS College, Kottayam

• TIME magazine has named Neal Mohan, the Indian-origin CEO of YouTube, as the “2025 CEO of the Year.”
• Jasprit Bumrah created history becoming the first Indian bowler to take 100 wickets in Tests, ODIs, and T20Is
• India will host the Squash World Cup 2025 for the third consecutive time at the SDAT Stadium, Chennai, from 10–14 December 2025
• The 33rd Southeast Asian Games (SEA Games 2025) officially began in Thailand, marking the start of one of Southeast Asia’s biggest multi-sport events
• Universal Health Coverage Day 2025 is observed on 12th December to promote access to quality health services without financial hardship