1. Banking, RBI & Capital Markets (SEBI)

RBI Grants Final NBFC Licence to MobiKwik & Forms Market Consultative Panel

• MobiKwik NBFC CoR: The Reserve Bank of India (RBI) granted the final Certificate of Registration (CoR) to MobiKwik Financial Services Private Limited (MFSPL), a wholly-owned subsidiary of One MobiKwik Systems Ltd., permitting it to operate as a Non-Banking Financial Company (NBFC) offering secured and unsecured credit to consumers and MSMEs.
• Technical Consultative Committee: RBI constituted a Technical Consultative Committee for Financial Markets to strengthen regulatory consultation, improve market liquidity, and enhance systemic resilience against emerging financial risks.
• Static Banking Hook: NBFC registration in India is mandated and regulated by the RBI under Section 45-IA of the Reserve Bank of India Act, 1934.

SEBI Eases Accredited Investor Rules & Approves Mutual Fund Net Settlement

The Securities and Exchange Board of India (SEBI) introduced key capital market reforms:

• Manager-Led Accreditation: Fund managers are now permitted to certify Accredited Investors (valid for 3 years) alongside existing accreditation agencies.
• New Exposure Thresholds: SEBI introduced securities market exposure as an additional eligibility criterion—₹5 crore for Individuals, HUFs, family trusts, and sole proprietorships, and ₹20 crore for body corporates and non-family trusts.
• Mutual Fund Net Settlement: Effective 1 April 2027, Mutual Fund (MF) schemes will be permitted to undertake net settlement of funds for outright transactions in the cash market.
• NRI KYC & Currency Derivatives: SEBI simplified KYC verification procedures for NRIs, OCIs, and foreign nationals, and revised the INR currency derivatives limit without underlying exposure to USD 5 million for domestic clients and FPIs.

SBI Expands US Footprint Beyond California with New Texas Branch

• Key Highlight: State Bank of India (SBI), through its wholly owned subsidiary State Bank of India (California) (SBIC Bank), inaugurated a new branch in Frisco, North Dallas, Texas—marking its first physical branch expansion outside California and bringing its total US branch count to 8.
• Static Banking Hook: SBI is headquartered in Mumbai, Maharashtra (established on 1 July 1955 upon nationalisation of the Imperial Bank of India).

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2. Economy, Digital Payments & Global Debt

10 Years of Demonetisation: Digital Payments Hit ₹3,251 Lakh Crore Alongside Rising Cash

• UPI & Digital Scale: Total digital payments across retail transfers, RTGS, cards, and wallets reached ₹3,251.04 lakh crore in FY 2025–26, with Unified Payments Interface (UPI) transaction value equating to nearly 91% of India’s GDP.
• Cards vs. Wallets: Credit cards, debit cards, and prepaid wallets logged 15,161.1 crore transactions worth ₹30.31 lakh crore in FY26—credit cards accounted for 78% of transaction value, while wallets led with 51.8% of transaction volume.
• Currency in Circulation (CIC): Cash with the public stood at ₹42.55 lakh crore (as of October 2026), normalizing India’s CIC-to-GDP ratio back to its pre-2016 benchmark of 12.1%.

World Bank International Debt Report 2026

• According to the World Bank’s International Debt Report 2026, Pakistan’s total external debt nearly doubled over a decade to USD 135.1 billion in 2025 (up from USD 68.67 billion in 2015).

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3. National Schemes, Science & Governance

MeitY Launches Semicon 2.0 Web Portal & Clears 12 ECMS Projects Worth ₹7,503 Crore

• Semicon 2.0 Portal: Union Minister for Electronics & IT Ashwini Vaishnaw launched the Semicon 2.0 Web Application Portal in New Delhi under Phase II of the Semicon India Programme.
• ECMS Approvals: Approved 12 additional applications under the Electronics Components Manufacturing Scheme (ECMS) with an estimated investment of ₹7,503 crore covering multi-layer PCBs, relays, heat sinks, copper foil, cathode active material, and specialty ceramics (taking total approved ECMS applications to 118 across 16 states).

AVYAY Senior Citizen Grants & Vayo SAATHI Initiative

• Financial Release: The Ministry of Social Justice and Empowerment released ₹77.98 crore for 755 senior citizen welfare projects for Q2 FY27 under the Atal Vayo Abhyuday Yojana (AVYAY) (which encompasses IPSrC, SAPSrC, and Rashtriya Vayoshri Yojana).
• Vayo SAATHI Campaign: Launched the Vayo SAATHI volunteer mobilisation campaign and signed MoUs with Shri Ram Chandra Mission (SRCM) and Adhyatma Vigyan Satsang Kendra (AVSK), Jodhpur.

Deep Ocean Mission: MATSYA-6000 Completes Unmanned Trials

• Under the Ministry of Earth Sciences’ Deep Ocean Mission (Samudrayaan Project), India successfully completed unmanned harbour/shallow-water trials of the indigenous MATSYA-6000 human submersible, validating its flotation, ballast, and submerged stability systems ahead of deep-sea crewed testing.

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4. Fast-Track Wire: Defence, Appointments, Environment & Biodiversity

Category	Key Event & Exam Fact
Bilateral Tri-Service Drill	Exercise ‘Rahat Mitra’: Inaugural India–Myanmar bilateral Tri-Services Humanitarian Assistance & Disaster Relief (HADR) exercise conducted in Chennai, Tamil Nadu.
UN Appointment	Shivani Gupta: Indian diplomat elected unopposed to the United Nations Advisory Committee on Administrative and Budgetary Questions (ACABQ) for the 2027–2029 term.
Judicial Tribunal	Justice Rajesh Bindal: Former Supreme Court Judge appointed Chairperson of the National Company Law Appellate Tribunal (NCLAT) for a 5-year tenure (2026–2031).
Climate Summit	UNFCCC COP31: Opened in Antalya, Türkiye, adopting an India-backed Climate Finance Work Programme (CFWP).
Biodiversity Discovery	Disporum kamakhasiense: Researchers discovered a new perennial flowering herb species of the Colchicaceae family in the forests of Assam and Meghalaya.

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5. The Daily Exam Drill (Mains-Level MCQs)

Click on each question below to reveal the correct option and statutory explanation.

Q1. Under SEBI’s November 2026 revised Accredited Investor framework, what are the newly introduced minimum securities market exposure eligibility thresholds for (i) Individuals/HUFs and (ii) Body Corporates respectively?

A) ₹2 crore and ₹10 crore
B) ₹5 crore and ₹20 crore
C) ₹5 crore and ₹25 crore
D) ₹10 crore and ₹50 crore
E) ₹1 crore and ₹10 crore

Correct Answer: B) ₹5 crore and ₹20 crore

Exam Note: SEBI introduced securities market exposure thresholds of ₹5 crore for Individuals, HUFs, family trusts, and sole proprietorships, and ₹20 crore for body corporates and non-family trusts, while allowing fund managers to certify accreditation valid for 3 years.

Q2. Under which statutory provision did the Reserve Bank of India (RBI) grant the final Certificate of Registration (CoR) to MobiKwik Financial Services Private Limited (MFSPL) to operate as an NBFC?

A) Section 22 of the Banking Regulation Act, 1949
B) Section 45-IA of the Reserve Bank of India Act, 1934
C) Section 10(2) of the Payment and Settlement Systems Act, 2007
D) Section 35A of the Banking Regulation Act, 1949
E) Section 18 of the FEMA, 1999

Correct Answer: B) Section 45-IA of the Reserve Bank of India Act, 1934

Exam Note: All Non-Banking Financial Companies (NBFCs) must obtain a mandatory Certificate of Registration from the RBI under Section 45-IA of the RBI Act, 1934 before commencing business.

Q3. State Bank of India (California) (SBIC Bank), a wholly owned subsidiary of SBI, inaugurated its first US branch outside California in November 2026 at which location?

A) Edison, New Jersey
B) Frisco, North Dallas, Texas
C) Schaumburg, Illinois
D) Atlanta, Georgia
E) Seattle, Washington

Correct Answer: B) Frisco, North Dallas, Texas

Exam Note: The Frisco, North Dallas (Texas) branch marks SBIC Bank’s first physical expansion beyond California and takes its total US branch count to 8.

Q4. In November 2026, India and Myanmar conducted their inaugural bilateral Tri-Services Humanitarian Assistance and Disaster Relief (HADR) exercise named ‘Rahat Mitra’ in which city?

A) Visakhapatnam, Andhra Pradesh
B) Kochi, Kerala
C) Chennai, Tamil Nadu
D) Port Blair, Andaman & Nicobar Islands
E) Kolkata, West Bengal

Correct Answer: C) Chennai, Tamil Nadu

Exam Note: Exercise ‘Rahat Mitra’ (5–6 November 2026) was held in Chennai across land, air, and maritime domains to boost joint HADR interoperability.