Why in News?

• The Union Cabinet has approved the continuation of the Credit Guarantee Fund for Micro Units (CGFMU) for another five years, up to March 31, 2031.

• The government has approved a corpus of ₹5,000 crore to support the scheme.

• It is expected to facilitate loans worth ₹12.6 lakh crore over the next five years.
  

Key Highlights

1. Objective: To encourage banks and financial institutions to provide loans to small businesses without demanding collateral (security).

2. Loan Coverage: The scheme provides guarantee coverage for:

• Loans up to ₹20 lakh under Pradhan Mantri Mudra Yojana (PMMY).

• Overdrafts up to ₹10,000 under Pradhan Mantri Jan Dhan Yojana (PMJDY).

• Loans between ₹10 lakh and ₹20 lakh to eligible Self-Help Groups (SHGs).

3. Lower Guarantee Fee:

• The guarantee fee has been reduced from 1% to 0.75% per year.

• The fee structure for SHGs remains unchanged.

4. Implementation: The scheme operates through the National Credit Guarantee Trustee Company Limited (NCGTC).

What is a Credit Guarantee Scheme?

• It is a government arrangement that reduces the risk of banks when they provide loans to small businesses.

• If a borrower fails to repay a loan, the guarantee fund covers a specified part of the lender's eligible loss.

• This encourages banks to provide loans even to people who do not have property or other assets to offer as security.

Why in News?

• The National Payments Corporation of India (NPCI) has not announced a new date for implementing the Merchant Discount Rate (MDR) on selected UPI transactions.

• NPCI had earlier planned to introduce MDR from October 15, 2026, but postponed it until after Diwali.

Key Highlights

• NPCI has stated that there is no announcement regarding the new implementation date at present.

• The proposed MDR levy faced strong opposition from traders, petrol pump dealers and customers.

• Petrol pump dealers argued that MDR would increase their operating costs and reduce their profit margins.

• Customers feared that merchants might pass on the additional cost through higher prices.

• The earlier postponement was reportedly made after strong appeals from traders.

What is MDR (Merchant Discount Rate)?

• MDR is a fee charged to merchants for accepting digital payments.

• It is generally shared among banks, payment networks and payment service providers.

• In this case, the proposed charge applies to selected Person-to-Merchant (P2M) UPI transactions.

• Here, Discount does not mean a price reduction given to the customer; it refers to the deduction from the merchant's payment amount as a transaction fee.

Why in News?

• British author M. John Harrison won the 2026 Booker Prize for his dystopian satire novel The End of Everything at a ceremony in London.

Key Highlights

• At the age of 81, Harrison became the oldest author to win the prestigious Booker Prize.

• His writing career spans nearly 60 years.

• The novel is 198 pages long, making it the shortest book on the 2026 shortlist.

• The judges praised the novel for its ability to leave readers with a “twinge of optimism” despite its dystopian subject.

• The award was decided unanimously by the judging panel chaired by Mary Beard.

About the Winning Novel—The End of Everything

• It is a dystopian satire set on the south coast of England, a few decades in the future.

• The story revolves around Phillip Tennent and his elderly aunt Marnie.

• It takes place years after a mysterious catastrophe involving an invasion by the fictional entities called ‘iGhetti’.

• The title and narrative explore a future shaped by uncertainty and digital-age influences.

Other Shortlisted Authors

• Douglas Stuart—John of John

• Marlon James—The Disappearers

• Elizabeth Strout – The Things We Never Say

• Luke Kennard – Black Bag

• Rebecca Perry—May We Feed the King

Why in News?

• The Department of Posts, Ministry of Communications, collaborated with IndiGo to launch the second edition of Digital Detox 2.0 during Diwali 2026.

Key Highlights

• Conducted across 15 IndiGo flights covering 11 destinations, including Ranchi, Delhi, Mumbai, Kolkata, and Varanasi.

• Passengers received special kits containing postcards, greeting cards, and DIY postcards.

• Encouraged passengers to send handwritten Diwali greetings instead of digital messages.

Significance

• Revives the tradition of handwritten communication.

• Promotes mindful screen usage and digital detox.

• Strengthens India Post's public outreach through innovative initiatives.

Why in News?

• The Asian Development Bank (ADB) approved a $98 million loan to support Sri Lanka’s digital transformation and develop an inclusive, secure, and resilient digital economy.

About the Project

• Project Name: Advancing Digital Transformation Project. It aims to:

1. Expand high-quality broadband connectivity, particularly in rural and underserved areas.

2. Improve government data infrastructure.

3. Expand access to digital government services for citizens and businesses.

4. Promote digital inclusion, especially among women and underserved communities.

Key Challenges Addressed

• Unequal access to reliable, high-speed broadband despite high mobile coverage.

• Gaps in digital infrastructure and government data systems.

• Challenges related to cybersecurity and data protection.

• Shortage of digital skills, affecting public service delivery and private sector growth.

About the Asian Development Bank (ADB)

• Established: 1966.

• Headquarters: Manila, Philippines.

• Membership: 69 members, including 50 from the Asia-Pacific region.

• Objective: Promote sustainable, inclusive, and resilient economic growth across Asia

Why in News?

• Three of India's greatest treasures, Kalhana's Rajatarangini, the Mahabharata, and Kautilya's Arthashastra, have now been added to UNESCO's Memory of the World Regional Register for Asia and the Pacific.

• It is a proud moment because these are not just old books. They are the memory of our civilization.

About UNESCO

UNESCO stands for the United Nations Educational, Scientific and Cultural Organization. It is a specialized agency of the United Nations (UN) founded on November 16, 1945, with its permanent headquarters in Paris, France.

Key Points:

• The decision was taken at the 11th General Meeting of MOWCAP, held in Jakarta, Indonesia.

• India's total now: With these 3 new additions, India now has 6 inscriptions in the regional register.

• Earlier inscriptions in 2024: Ramcharitmanas, Panchatantra, and Sahrdayaloka-Locana.

The Three Treasures

India's three newly recognized manuscripts represent three pillars of our civilization—history, values, and governance. Each one comes from a different time and place, but together they tell the complete story of India.

Rajatarangini:

• Written by Kalhana in the 12th century.

• It is a Sanskrit historical chronicle of Kashmir, documenting its rulers and political history.

• The manuscript is preserved at the Oriental Research Library, Srinagar.

Mahabharata:

• Traditionally attributed to Vyasa.

• It is one of India's two major Sanskrit epics, exploring Dharma, duty, and morality.

• The inscribed manuscript is 400 years old, written on birchbark in Sharada script.

• It is preserved at the Bhandarkar Oriental Research Institute, Pune.

Artha Shastra:

• Traditionally attributed to Kautilya (Chanakya). It is an ancient treatise on governance, administration, diplomacy, economics, and statecraft.

• Its inscribed manuscript is from the 16th century and written on palm leaf.

• It is preserved at the Oriental Research Institute, Mysuru.

Role of IGNCA:

• The Indira Gandhi National Centre for the Arts (IGNCA) played an important role in preparing the nomination dossiers for all three manuscripts.

UNESCO Memory of the World Programme

• The Memory of the World Programme is UNESCO's way of protecting the world's most precious documents before they are lost forever to war, disaster, or simply time.

Established and Objective:

• Launched by UNESCO in 1992. Its aim is to preserve documentary heritage, especially heritage threatened by conflicts and natural disasters.

• It also works to ensure universal access and to make people aware of why these documents matter.

Why in News?

• Recently, the Financial Action Task Force (FATF) held its plenary meeting in Paris under the UK presidency.

• The meeting focused on strengthening global efforts against emerging financial crimes, particularly the misuse of virtual assets, financial fraud, and organized scam networks.

Key Developments

This is exactly what FATF is aiming to achieve.

1. Regulation of Virtual Assets: Following the FATF Ministerial Declaration of April 2026, FATF agreed to review how effectively countries are regulating virtual assets and Virtual Asset Service Providers (VASPs). The findings are expected in June and October 2027, focusing on money laundering, terrorist financing, and proliferation financing.

2. Combating Financial Fraud: FATF approved a report examining illegal money flows linked to scam compounds. Its aim is to disrupt organized criminal networks and the growing crime-as-a-service economy.

3. Changes in the Grey List: Bulgaria, Côte d’Ivoire, the Democratic Republic of the Congo, and Monaco have been removed from FATF's Grey List after successfully completing their action plans. However, FATF expressed concern over Vietnam's slow progress in addressing financial security weaknesses.

About FATF

• Established: 1989, on the initiative of G7 countries.

• Headquarters: Paris, France.

• Main Role: Combating money laundering, terrorist financing, and proliferation financing.

• Decision-making Body: FATF Plenary, which generally meets three times a year.

• Membership: 40 members, including 38 jurisdictions and two regional organizations, the European Commission and the Gulf Cooperation Council (GCC).

• India: Became an observer in 2006 and a full member in 2010. India is also a member of the Asia/Pacific Group (APG) and Eurasian Group (EAG).

• Vice-Presidency: Vivek Aggarwal of India assumed the FATF Vice-Presidency on 1 July 2026.

FATF Monitoring Lists

• Grey List: Countries under increased monitoring that have committed to addressing deficiencies in their anti-money laundering and counter-terrorist financing systems.

• Black List: High-risk countries facing a call for action due to serious deficiencies. As of October 2026, it includes North Korea, Iran, and Myanmar.
  

Why in News?

Union Minister Sarbananda Sonowal will inaugurate Delhi's first recreational Yamuna River Cruise Service on 10 November 2026 at Sonia Vihar.

Key Highlights

• Route: Sonia Vihar–Jagatpur stretch of the Yamuna River.

• The inauguration will take place in the presence of Delhi Lieutenant Governor Taranjit Singh Sandhu and Chief Minister Rekha Gupta.

• The initiative is spearheaded by the Inland Waterways Authority of India (IWAI) under the Ministry of Ports, Shipping and Waterways.

• Trial runs of the cruise vessel were successfully conducted in October 2026.

• The service will use electric-powered cruise vessels to promote clean and sustainable mobility.

Important Facts

• Yamuna River: Designated as National Waterway-110 (NW-110) under the National Waterways Act, 2016.

• Implementing Agency: Inland Waterways Authority of India (IWAI).

• Collaborating Agencies:

• Delhi Development Authority (DDA).

• Delhi Tourism and Transportation Development Corporation (DTTDC).

• Delhi Jal Board (DJB).

• Irrigation and Flood Control Department, Delhi Government.

Why in News?

President Droupadi Murmu will confer the 10th Swachh Survekshan Awards 2025-26 on 11 November 2026 at Vigyan Bhawan, New Delhi.

Key Highlights

• Theme: “Swachhata Ki Nayi Pehel – Badhayein Haath, Karein Safai Saath”.

• Organised under the Department of Urban Development, Ministry of Housing and Urban Affairs (MoHUA).

• Recognises India's cleanest cities and their contributions to the Swachh Bharat Mission-Urban (SBM-U).

• Swachh Survekshan has expanded from 73 Urban Local Bodies (ULBs) in 2016 to over 4,751 cities in the latest edition.

Major Features of Swachh Survekshan 2025-26

• Assessment: 43 indicators across 10 key assessment areas.

• More than 3,000 trained assessors conducted on-ground evaluations using GPS-enabled monitoring.

• Assessment process was fully digital, with evidence submission, verification and quality checks.

• Greater emphasis on:

• Citizen feedback.

• Cleanliness of urban riverfronts, coastlines and water bodies.

• Prevention of open defecation and open urination.

• Cleanliness of tourist and heritage sites.

• Behaviour-change initiatives in schools.

Swachh Shehar Jodi Initiative

• Launched on 27 September 2025 by Union Minister Manohar Lal.

• India's first urban waste management mentorship and peer-learning initiative.

• 70 mentor cities and 191 mentee cities across 33 States/UTs.

Why in News?

INS Chilka will conduct the Passing Out Parade (POP) of the ninth batch of Indian Navy Agniveers and Indian Coast Guard Naviks on 13 November 2026.

Key Highlights

• Chief Guest: Admiral Krishna Swaminathan, Chief of the Naval Staff.

• Largest Batch: Over 3,300 trainees will complete 16 weeks of ab-initio training, making it the largest batch to pass out from INS Chilka.

• Training included academics, physical conditioning, swimming, parade training, outdoor activities and camps.

• Focus on discipline, leadership, teamwork and the core naval values of Duty, Honour and Courage.

• Valedictory Function: Presided over by Vice Admiral Sameer Saxena, Flag Officer Commanding-in-Chief, Southern Naval Command.

• Awards will be presented to meritorious trainees, the champion division and the best instructor.

• The bilingual trainees' magazine 'Ankur' will also be unveiled.

About INS Chilka

• Located in Odisha.

• It is the Indian Navy's premier ab-initio training establishment for Agniveers.

Why in News?

Union Minister Kiren Rijiju visited Saudi Arabia from 6–9 November 2026 and signed the bilateral Haj Agreement 2027 with Saudi Arabia.

India's pilgrim quota for Haj-2027 has been fixed at 1,75,025.

Key Highlights

• Kiren Rijiju held a bilateral meeting with Saudi Minister of Hajj and Umrah Dr. Tawfiq bin Fawzan Al-Rabiah on 9 November 2026 at Jeddah Superdome.

• Both sides reviewed preparations for Haj-2027 and discussed:

• Pilgrim safety and welfare.

• Improved logistical support.

• Better coordination for a smooth pilgrimage.

• The Union Minister attended the inauguration of the 6th Hajj Conference and Exhibition on 8 November 2026.

• He also interacted with Prince Saud bin Mishaal bin Abdulaziz Al Saud, Deputy Governor of the Makkah Region.

• A review meeting was held with officials of the Indian Consulate, Ministry of Minority Affairs and Haj Committee of India.

Significance

• Strengthens India-Saudi Arabia cooperation in Haj management and pilgrims' welfare.

• Promotes cultural exchange and people-to-people relations.

• Reinforces bilateral strategic partnership and cooperation with the Indian diaspora.

1. Why in News?

Indian Naval Ship INS Surat arrived at Muscat, Oman, on 8 November 2026 to participate in the 15th edition of the bilateral maritime exercise Naseem Al Bahr, followed by a Coordinated Patrol (CORPAT) between the Indian Navy and Royal Navy of Oman.

2. Key Highlights

• The exercise will include harbour and sea phases.

• Major activities:

Cross-deck visits.

Operational interactions.

Sporting events.

• Focus on improving operational interoperability, professional cooperation and mutual understanding between the two navies.

• The deployment follows the 13th India-Oman Joint Military Cooperation Committee meeting, held on 24 November 2025.

3. About Naseem Al Bahr

• Meaning: Sea Breeze.

• Participants: Indian Navy and Royal Navy of Oman.

• Nature: Bilateral maritime exercise.

• Followed by a Coordinated Patrol (CORPAT) to strengthen maritime surveillance and operational coordination.

Why in News?

Mera Yuva Bharat (MY Bharat) and the National Service Scheme (NSS) organised nationwide Diwali Sneh Milan across 153 institutions, reaching 1,07,494 participants under the Nasha Mukt Yuva for Viksit Bharat 100 Week Sankalp Abhiyan.

Key Highlights

• It was the 8th weekly intervention, marking the conclusion of the campaign's second month.

• Nasha Mukt Deepotsav: Volunteers, elders and children lit earthen diyas to symbolise the victory of light over addiction.

• Deepotsav and Sneh Milan gatherings together engaged over 41,600 participants.

• Street plays (Nukkad Nataks), Rangoli-making and Nasha Mukt songs reached over 24,100 participants.

• Nearly 25,000 individuals and family members took the Addiction-Free Diwali Sankalp.

• More than 16,700 NSS volunteers visited old-age homes, orphanages, hospitals and slum areas, distributing diyas and sweets.

• Over 1,100 social media posts and reels were uploaded using #NashaMuktYuva.

NSS Motto

• “Not Me, But You” – emphasises community service, selflessness and social responsibility.

Why in News?

US President Donald Trump initiated the process on 2 November 2026 to terminate South Africa and Rwanda's benefits under the African Growth and Opportunity Act (AGOA).

US Trade Representative Jamieson Greer formally notified the US legislature.

2. About AGOA

• Enacted in 2000 under US President Bill Clinton.

• Provides eligible African countries duty-free access to the US market for thousands of products.

• Eligibility is reviewed annually, and the programme requires legislative renewal.

3. Reasons for Proposed Removal

• South Africa: US cited trade barriers, corruption and threats to US interests.

• Rwanda: US additionally raised concerns over human rights and political freedom, along with Rwanda's alleged support for M-23 rebels in the Democratic Republic of the Congo (DRC).

4. Impact on South Africa

• South Africa has been one of the biggest beneficiaries of AGOA.

• Its exports under the programme declined from $4 billion in 2024 to $1.7 billion in 2025.

• Key affected sectors include automobiles, citrus fruits and wine.

• Loss of duty-free access could make its products less competitive against European and South American exporters.

• Trade unions warned that up to 10,000 jobs could be at risk.

5. Impact on Rwanda

• Major exports to the US include coffee, tea and minerals.

• The US recently imposed sanctions on Rwanda's Defence Ministry over alleged links with M-23 rebels.

• Rwanda has denied supporting the rebels.

6. Response and Significance

• South African Trade Minister Parks Tau termed the decision unfortunate and stated that Pretoria would protect jobs and diversify export markets.

• The proposed termination highlights growing US-Africa trade and diplomatic tensions.

• Both countries face uncertainty over their preferential trade access ahead of the January 2027 deadline