Why in News?

The Government of India has constituted a High-Level Committee on Banking for Viksit Bharat to review India's banking sector and recommend reforms to make it globally competitive, financially inclusive, and resilient, in line with the vision of Viksit Bharat @2047.

The committee was announced by Union Finance Minister Nirmala Sitharaman in the Union Budget 2026-27.

Major Terms of Reference (Objectives)

The committee will focus on the following areas:

1. Banking Reforms: Review existing banking practices and prudential norms and adopt suitable global best practices.

2. Regulatory Reforms: Examine laws and regulations governing commercial, regional rural, and cooperative banks.

3. Capital Requirements: Assess the long-term funding needs of banks, Development Financial Institutions (DFIs), and NBFCs.

4. Investment Promotion: Examine the cost of capital for businesses and suggest measures to encourage private investment.

5. AI and Digital Banking: Develop a roadmap for AI and digital innovation, with safeguards against cyber risks and measures for skill development.

6. Financial Inclusion: Review the Priority Sector Lending (PSL) framework and Lead Bank Scheme to improve inclusive and balanced credit delivery.

Significance

The committee aims to build a strong, efficient, technology-driven, and globally competitive banking system capable of supporting India's long-term economic growth and achieving the vision of Viksit Bharat @2047.

Why in News?

• The Defence Research and Development Organisation (DRDO) successfully flight-tested the indigenous Pralay missile from Dr. APJ Abdul Kalam Island off the Odisha coast.

• The successful test is an important step towards the induction of the missile into the armed forces.

About Pralay Missile

• It is an indigenous, solid-fuel-based quasi-ballistic missile.

• It has been developed by DRDO.

• It is a surface-to-surface missile.

• Its primary objective is to destroy enemy military installations and important targets.

Key Features of the Test

• Location: Dr. APJ Abdul Kalam Island, Odisha.

• Objective: To evaluate the missile's flight capability and performance.

• All the predetermined test objectives were successfully achieved.

• Test data were collected through various instruments deployed by the Integrated Test Range (ITR), Chandipur.

Significance of Pralay Missile

• Promotes India's indigenous defence technology.

• Enhances the combat capabilities of the Indian Armed Forces.

• Strengthens India's ability to conduct precision strikes against important enemy military targets.

• Strengthens the vision of Atmanirbhar Bharat in the defence sector.

• Enhances India's strategic capabilities in modern warfare.

Why in News?

• The Indian National Centre for Ocean Information Services (INCOIS), under the Ministry of Earth Sciences (MoES), has issued a warning of a Marine Heat Wave in the Arabian Sea, Indian Ocean and Bay of Bengal.

• Along with this, a Swell Surge alert has also been issued for India's eastern and western coasts.

• Marine heat waves may negatively affect marine ecosystems, coral reefs, fish production and biodiversity.

• Swell surges may affect coastal areas due to ocean waves reaching heights of one metre or more.

What is a Marine Heat Wave?

• When sea surface temperature (SST) in a particular ocean region remains above normal for an extended period, it is called a Marine Heat Wave.

• According to this report, temperatures in some ocean regions are approximately 1°C above normal.

Impacts:

• Coral bleaching

• Decline in marine biodiversity

• Changes in fish habitats and distribution

• Negative impacts on marine productivity

What is a Swell Surge?

• It involves long-period and high ocean waves moving towards the coast.

• These waves do not necessarily originate from local winds; they can also be generated by storms occurring in distant ocean regions.

• Waves reaching heights of one metre or more can cause damage to coastal areas.

Potential Impacts:

• Coastal flooding

• Coastal erosion

• Threats to fishermen and coastal communities

• Impacts on boats and maritime activities

Why in News?

⦁ Nalanda College, Colombo inaugurated a Tinkering Lab with technical and curriculum support from India's Atal Innovation Mission (AIM), NITI Aayog.

Key Highlights

⦁ Initiative facilitated by the High Commission of India in Sri Lanka.

⦁ Technologies: Robotics, Artificial Intelligence, 3D Printing and Digital Manufacturing.

⦁ Collaboration involves Nalanda College and Atlas Axillia (Hemas Holdings).

Significance

⦁ Promotes hands-on technology education, innovation and entrepreneurship.

⦁ Strengthens India–Sri Lanka cooperation in education, science and technology.

Note: NITI Ayog launched Atal Innovation Mission in 2016.

Why in News?

⦁ Union Minister Chirag Paswan launched the revamped Ministry of Food Processing Industries (MoFPI) website.

Key Features

⦁ Multilingual support.

⦁ Improved search functionality.

⦁ Enhanced data protection and security.

⦁ Better accessibility and user experience.

Significance

⦁ Improves transparency and digital service delivery.

⦁ Provides easy access to ministry policies, schemes and initiatives.

Why in News?

⦁ CSIR and DAKSHIN signed a Letter of Association (LoA) on 3 November 2026 to promote science, technology and innovation in the Global South.

Key Highlights

⦁ DAKSHIN: Global South Centre of Excellence at RIS.

⦁ CSIR: Provides scientific expertise and affordable, adaptable technologies.

⦁ Focus areas: Healthcare, agriculture, infrastructure, blue economy and digital economy.

Objectives

⦁ Joint policy research and development solutions.

⦁ Capacity building and skill development.

⦁ Technology transfer and institutional collaboration.

⦁ Sharing best practices and development experiences.

Why in News?

Recently, Bihar's women's cricket team won the Senior Women's T20 Trophy (Plate Group) by defeating Mizoram by 10 runs in the final held at Nagaland Cricket Stadium. With this victory, Bihar has secured promotion to the Elite Group, where it will compete from the next season.

How Did Bihar Win the Final?

• Batting first, Bihar scored 116 runs for the loss of 7 wickets in 20 overs. Several players contributed to the team's total, with Jyoti and Vaishali scoring 20 runs each. Harshita contributed 15 runs, while Vaidehi and Arya scored 13 runs each.

• In response, Mizoram managed to score only 106 runs for 9 wickets in 20 overs, falling short by 10 runs. Bihar's bowlers played a crucial role in defending the target, with Arya and Tejaswi taking two wickets each.

• Arya Seth was named Player of the Match for her all-round performance in the final. She scored 13 runs with the bat and also claimed 2 wickets with the ball. Her performance played a crucial role in Bihar's victory.

Significance of the Victory

This victory marks an important achievement for women's cricket in Bihar. Winning the Plate Group title has earned the team promotion to the Elite Group, providing an opportunity to compete against stronger teams at the next level.

The achievement also highlights the growing potential of women's cricket in Bihar and the contribution of its emerging players.

Why in News?

• First National SARAS Mela outside Delhi-NCR concluded at Vijayawada, Andhra Pradesh.

• Organised by Ministry of Rural Development with Andhra Pradesh Government.

• Inaugurated by President Droupadi Murmu (15 October 2026).

Lakhpati Didi

• Pavilion showcased 21 women entrepreneurs.

• Lakhpati Didi: SHG(Self Help Group) woman whose household earns at least ₹1 lakh annually.

• Target: 6 crore Lakhpati Didis by 2029 under DAY-NRLM.

Why in News?

• TRAI launched the Network Anubhav Platform, a geospatial and analytical dashboard for telecom network performance and DND services.

Key Features

• Displays cellular and fixed broadband test results service-provider-wise and technology-wise.

• Provides location-based download and upload speed data.

• Uses data from TRAI's MySpeed and MyCall apps and Independent Drive Tests.

Benefits

• Consumers can check network performance and location-specific test results.

• Telecom Service Providers (TSPs): Identify network gaps and improve coverage and call quality.

Why in News?

Union Cabinet approved VISTAR(Viksit Bharat Initiative for Statistical Transformation, Analytics & Research) for FY 2026–27 to 2030–31.

Ministry: Ministry of Statistics and Programme Implementation (MoSPI).

Objectives

• Modernise India's statistical system.

• Promote digitalisation, AI/ML(Artificial Intelligence/ Machine Language) and real-time data.

• Support evidence-based policymaking and Viksit Bharat 2047.

Three Components

• Comprehensive Statistical Operations: 59 proposed surveys; AI/ML integration and new statistical indices.

• Statistical Strengthening (SSS 2.0): Financial and technical support to States/UTs for district-level data.

• Economic Census: Conduct the 8th Economic Census to cover non-farm establishments and workers up to Gram Panchayat/Ward level.

Why in News?

• Recently, Bihar Chief Minister Samrat Choudhary announced the organization of Bihar Business Connect-2027. This investment summit will be held in February next year.

• On this occasion, the Chief Minister also launched the new website of the Bihar Foundation and the Business Connect-2027 portal.

Investment and Employment to Get a Boost

• The main objective of this initiative is to attract domestic and foreign investors and entrepreneurs to Bihar. The Chief Minister appealed to Non-Resident Biharis (NRBs) to connect entrepreneurs and investors from their respective countries and regions with this event.

• He stated that Bihar has immense potential for development and investment. It is also essential to develop a skilled human resource base so that the state's youth can access better employment opportunities in India and abroad.

All 55 Chapters of Bihar Foundation to Participate

• Currently, 55 chapters of the Bihar Foundation are operational. These include 31 international chapters and 24 national chapters. The government aims to increase their number in the coming years.

  Non-Resident Biharis (NRBs) are the brand ambassadors of Bihar across India and abroad. They can play an important role in building a positive image of the state and promoting investment opportunities.

Why in News?

• Recently, Quacquarelli Symonds (QS) released the QS World University Rankings: Asia 2027. For the second consecutive year, no Indian university has secured a position in the top 50.

• Moreover, all six of India's highest-ranked institutions have witnessed a decline in their rankings. However, India's overall representation has increased to 325 institutions.

Top Universities in Asia 2027

• The University of Hong Kong secured the first position, followed by Peking University and Tsinghua University (China) have been placed at second and third place consecutively. Hong Kong has five universities among Asia's top 10.

Performance of Top Indian Universities

• IIT Delhi remains India's highest-ranked institution, although it has slipped from 59th to 66th position. Other leading institutions have also experienced a decline.

• In contrast, Chandigarh University, Lovely Professional University, and Jamia Millia Islamia have improved their positions.

Strong in Research, but Low in Global Impact

• Indian universities perform well in research output. A total of 27 Indian universities feature among Asia's top 50 for Papers per Faculty, which measures research publications relative to academic staff. Five Indian institutions are among the top 10 in this category.

• However, research impact remains a concern. Only three Indian universities feature in Asia's top 50 for citations per paper, indicating that Indian research is not receiving a comparable level of international recognition and academic influence.

India's Growing Presence in Asian Rankings

• India's representation has increased from 294 institutions in 2026 to 325 institutions in 2027, including 34 new entrants. This makes India the second most represented higher education system in Asia.

Key Takeaway

• India has significantly expanded its higher education and research capacity. However, improving research quality, international collaboration, academic influence, and global recognition remains a major challenge.

Why in News?

Recently, Chief of Defence Staff (CDS) General N.S. Raja Subramani announced a new arrangement regarding the service tenure of Agniveers. Under this arrangement, the remaining 75% of Agniveers who complete four years of service will be given an opportunity to serve for an additional two years.

What Will Change in the Agnipath Scheme?

• Under the Agnipath Scheme, launched in June 2022, young people were recruited into the armed forces for a period of four years. After this period, a maximum of 25% of Agniveers were eligible for permanent enrollment in the regular cadre on the basis of merit, while the remaining 75% had to be released from service.

• Under the new arrangement, these 75% of Agniveers will get an opportunity to serve for an additional two years. During this period, they will also receive increased salaries and allowances. This extension of service will be subject to their consent.

Opportunity for Regular Employment Even After Six Years

• After completing the additional two years of service, Agniveers will get another opportunity to become regular soldiers. However, they will have to meet the prescribed selection criteria and merit standards.

• In addition, certain changes have also been announced in the recruitment process, such as conducting the written examination before the physical efficiency test and providing skill certificates based on military training.

Significance of This Change

• The objective of this decision is to make better use of the experience gained by trained Agniveers and provide them with an opportunity to continue serving in the armed forces for a longer period.

• However, official notification needs to be verified for the final rules regarding eligibility, selection procedures, and the impact on reservation under the new arrangement.

Why in News?

Recently, the Union Cabinet, chaired by Prime Minister Narendra Modi, approved the extension of the Fast Track Special Courts (FTSC) Scheme for five years, i.e., until 31 March 2031, to ensure speedy trials in rape and POCSO cases. The center's share will be provided through the Nirbhaya Fund.

850 Special Courts to Be Operational

• The government aims to operate a total of 850 Fast Track Special Courts across the country, including exclusive POCSO courts. Currently, 779 courts are operational, of which 399 are exclusive POCSO courts.

• These courts will be provided with dedicated judicial officers, special public prosecutors, and six supporting staff members to reduce delays in the trial of cases.

How Will Women and Children Benefit?

• The objective of this scheme is to ensure the speedy disposal of pending cases related to rape and the Protection of Children from Sexual Offences (POCSO) Act, 2012.

• Under this scheme, child-friendly courtrooms and special facilities for recording the statements of witnesses will be developed so that victims do not face unnecessary difficulties during the judicial process.

• The scheme will be implemented by the Department of Justice in collaboration with state governments and union territory administrations. Its objective is to strengthen the capacity of the judiciary and ensure timely justice for women and children.

What Is the Fast Track Special Courts (FTSC) Scheme?

• It is a scheme of the Central Government implemented by the Ministry of Law and Justice. Its main objective is to establish dedicated fast-track courts for serious cases such as rape and offenses under the POCSO Act so that victims can get justice quickly. The scheme is funded through the Nirbhaya Fund.

• In 2019, the Supreme Court observed that a large number of POCSO cases were pending and needed to be disposed of quickly. Following this direction, the FTSC Scheme was launched on 2 October 2019.

Cost-Sharing Pattern

• General States: Center 60%, State 40%

• Northeastern States, Sikkim, and Hill States: Centre 90%: State 10%

• Union Territories with Legislatures: 60:40

• Union Territories without Legislatures: 100% funding by the Central Government

Merely making laws stricter does not prevent crimes. Crimes can be deterred only when trials are conducted quickly and the guilty are punished in a timely manner.