1. Banking, RBI & Financial Awareness

RBI Issues Domestic Money Transfer (DMT) Directions, 2026

The Reserve Bank of India (RBI) issued updated regulatory norms governing domestic cash-to-bank remittances and walk-in fund transfers across banks and Business Correspondents (BCs):

• BC & ATM Transaction Caps: Domestic money transfers facilitated through Business Correspondents or ATMs are strictly capped at ₹5,000 per transaction, subject to a cumulative monthly cap of ₹25,000 per remitter.
• Walk-in Branch NEFT Limit: Walk-in customers without an account at the remitting bank branch can transfer up to ₹50,000 per transaction via NEFT upon furnishing valid identity and address verification.
• Static Banking Hook: Payment system directives are issued by the RBI under Section 10(2) read with Section 18 of the Payment and Settlement Systems Act, 2007.

Indian Overseas Bank (IOB) Launches ‘IOB Digital Rupee’ App

• Key Feature: Public sector lender Indian Overseas Bank (IOB) rolled out its dedicated retail Central Bank Digital Currency (CBDC) application, ‘IOB Digital Rupee’, equipped with programmable e₹ (e-Rupee) capabilities for targeted government and corporate disbursements.
• Static Banking Hook: Indian Overseas Bank is headquartered in Chennai, Tamil Nadu (Founded in 1937 by M. Ct. M. Chidambaram Chettyar).

ADB Releases USD 21.6 Million First Tranche for Mizoram Universal Healthcare

• Loan Structure: The Asian Development Bank (ADB) disbursed USD 21.6 million as the initial tranche of a USD 108 million results-based loan supporting the Mizoram Universal Healthcare Scheme (MUHCS) following the achievement of two Disbursement-Linked Indicators (DLIs).
• Centre–State Pass-Through: Of the ₹205.49 crore transferred by the Union Ministry of Finance to Mizoram, 90% (₹184.93 crore) is structured as a central grant and 10% (₹20.54 crore) as a loan.

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2. Economy, Trade & Global Indices

DGFT Prohibits Export of Lithium-Ion Battery ‘Black Mass’

• Policy Change: The Directorate General of Foreign Trade (DGFT), under the Ministry of Commerce and Industry, amended the export classification of lithium-ion battery waste and scrap—including Black Mass—from ‘Free’ to ‘Prohibited’ under ITC (HS) Code 85491400.
• Strategic Objective: Black mass is a high-value powder derived from shredded lithium-ion cells containing recoverable lithium, cobalt, nickel, manganese, and graphite. The ban secures domestic feedstock and complements India’s ₹1,500 crore Incentive Scheme for Critical Mineral Recycling.

WIPO Global Innovation Index (GII) 2026: India Retains 38th Spot

• Report & Edition: Released by the World Intellectual Property Organization (WIPO) — 19th edition titled “Powering entrepreneurs at the frontier of science”.
• India’s Performance: India maintained its 38th global rank with an overall score of 40.1, leading the Central and Southern Asia region, while Switzerland retained the #1 global position.

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3. National Schemes, Cabinet & Governance

Cabinet Clears ₹3,230 Crore Yuge Yugeen Bharat Museum & ₹2,390 Crore Metro Link

• Yuge Yugeen Bharat National Museum: The Union Cabinet approved an outlay of ₹3,230 crore to establish the museum in New Delhi, housing nearly 1.8 million artefacts (first gallery themed on Adornment scheduled to open in late 2027).
• Aqua Line Metro Extension: The Cabinet cleared an extension of the Noida–Greater Noida Aqua Line Metro corridor at an estimated project cost of ₹2,390 crore.
• Rabi 2026–27 NBS Rates: Approved Nutrient-Based Subsidy (NBS) rates for Phosphatic and Potassic (P&K) fertilisers for the Rabi 2026–27 season with a tentative budgetary requirement of ₹62,370.02 crore.

Island Blue Economy Push & Swachh Survekshan Awards 2025–26

• EEZ Fisheries Clusters: Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY), India notified Lakshadweep as a dedicated Seaweed Cluster and the Andaman & Nicobar Islands as a Tuna Cluster (both territories together comprise nearly 40% of India’s Exclusive Economic Zone).
• Swachh Survekshan & National Education Day: On 11 November 2026—observed nationwide as National Education Day commemorating Maulana Abul Kalam Azad—the President of India conferred the Swachh Survekshan Awards 2025–26 at Vigyan Bhawan, New Delhi.

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4. Fast-Track Wire: Summits, Defence, Appointments & Sports

Category	Key Event & Exam Fact
International Summit	International Solar Alliance (ISA): India re-elected as ISA President for a 3rd consecutive term (2026–2028) alongside France as Co-President at the 9th ISA Session in New Delhi.
Regional Health	1st BIMSTEC Health Ministers’ Meeting: Held in Colombo, Sri Lanka; adopted the Revised Plan of Action on Public Health (2026–2030).
Maritime Exercise	Naseem Al Bahr 2026 (15th Edition): Bilateral naval exercise between Indian Navy (represented by INS Surat) and Royal Navy of Oman concluded at Muscat, Oman (8–11 Nov 2026).
State Index	Ease of Vehicle Ownership Index (EVOI) 2026: Andhra Pradesh ranked 1st (5.91/10), followed by Kerala (5.74) and Tamil Nadu/Delhi (4.58); Uttar Pradesh ranked last (2.47).
Awards & Sports	Dr. Devi Prasad Shetty (Founder, Narayana Health) conferred France’s Knight of the National Order of Merit; PV Sindhu elected Chairperson of IOA Athletes’ Commission (2026–2030); Indian cricketer S. Meghana retired from all formats; Lando Norris won the Brazilian GP 2026.

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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 the Reserve Bank of India (Domestic Money Transfer) Directions, 2026 issued on 11 November 2026, what is the maximum per-transaction and monthly cap for domestic fund transfers initiated via Business Correspondents (BCs) or ATMs?

A) ₹2,000 per transaction; ₹10,000 per month
B) ₹5,000 per transaction; ₹25,000 per month
C) ₹10,000 per transaction; ₹50,000 per month
D) ₹5,000 per transaction; ₹50,000 per month
E) ₹25,000 per transaction; ₹1,00,000 per month

Correct Answer: B) ₹5,000 per transaction; ₹25,000 per month

Exam Note: As per RBI’s Domestic Money Transfer Directions 2026, cash-to-bank remittances through Business Correspondents (BCs) or ATMs are capped at ₹5,000 per transaction with a monthly ceiling of ₹25,000 per remitter, while walk-in customers at bank branches can remit up to ₹50,000 via NEFT.

Q2. Effective 11 November 2026, the Directorate General of Foreign Trade (DGFT) shifted the export policy of lithium-ion battery scrap and ‘Black Mass’ from ‘Free’ to ‘Prohibited’ under which ITC (HS) Code?

A) 85076000
B) 85491400
C) 71081200
D) 28369100
E) 85481010

Correct Answer: B) 85491400

Exam Note: DGFT prohibited the export of lithium-ion battery waste and black mass under ITC (HS) Code 85491400 to retain critical minerals (lithium, cobalt, nickel, manganese, and graphite) domestically and support India’s ₹1,500 crore Critical Mineral Recycling incentive scheme.

Q3. Which Indian Naval Ship (INS) represented India in the 15th edition of the bilateral maritime exercise ‘Naseem Al Bahr 2026’ held off the coast of Muscat, Oman in November 2026?

A) INS Visakhapatnam
B) INS Kolkata
C) INS Surat
D) INS Trikand
E) INS Sahyadri

Correct Answer: C) INS Surat

Exam Note: INS Surat participated alongside the Royal Navy of Oman in the 15th edition of Exercise Naseem Al Bahr (‘Sea Breeze’) held from 8 to 11 November 2026 at Muscat.

Q4. Under the Pradhan Mantri Matsya Sampada Yojana (PMMSY) Island Blue Economy initiative, which Union Territory has been notified as a dedicated ‘Seaweed Cluster’?

A) Andaman and Nicobar Islands
B) Puducherry
C) Lakshadweep
D) Dadra and Nagar Haveli and Daman and Diu
E) Diu

Correct Answer: C) Lakshadweep

Exam Note: Under PMMSY, Lakshadweep has been notified as a dedicated Seaweed Cluster, whereas the Andaman and Nicobar Islands have been notified as a dedicated Tuna Cluster.