Banking Awareness of 28, 29, 30 and 31 December 2025

Topic: Reports and Indices

1. As per a report by Amicus Growth, India has third largest rare earth reserves of the world but it lags behind in production.

• As per data, India has approximately 6.9 million tonnes of rare earth oxide reserves.
• In terms of reseves of rare earth oxide, India comes after China and Brazil.
• China has about 44 million tonnes of rare earth reserves. China is followed by Brazil with 21 million tonne.
• Australia, Russia, Vietnam and the US are other countries with notable reserves.
• In 2024, India's production of rare earths stood at only 2,900 tonne. Its ranking was seventh globally.
• China produced 270,000 tonne. US was second largest producer with 45,000 tonne, followed by Myanmar with 31,000 tonnes.
• The report highlights that India holds nearly 6-7% of global rare earth reserves. It contributes less than 1% of global production.
• In India, mining and processing is more complex as India's reserves are mainly found in monazite-rich coastal sands, also cotaining thorium, a radioactive element.

Topic: Indian Economy/Financial Market

2. Electronics production in India has grown about six times since 2014, as said by Union Minister for Electronics and IT.

• During the same period, electronics exports have increased nearly eightfold, as said by Union Minister for Electronics and IT.
• Electronic goods production increased from ₹1.9 lakh crore in 2014-15 to ₹11.3 lakh crore in 2024-25.
• During this period, electronics exports grew from ₹0.38 lakh crore to ₹3.3 lakh crore.
• Union Minister said PLI Scheme for Large Scale Electronics Manufacturing brought in more than ₹13,475 crore worth of investment and a production of ₹9.8 lakh crore achieved.
• In the last decade, 25 lakh jobs were created from electronics manufacturing.
• The Minister said in the last five years, more than 1.3 lakh jobs have been created.
• Electronics is now India’s third-largest export category. Previously, it ranked at seventh among exports.
• India is world's second-largest mobile manufacturing country. 99.2 per cent of mobile handsets sold in India are 'Made in India'.
• Mobile manufacturing units increased from just two in 2014–15 to around 300 now.
• Mobile phone production was about ₹0.18 lakh crore earlier and now, it has increased to nearly ₹5.5 lakh crore.
• Mobile phone exports were negligible in 2014–15. Now, they have reached around ₹2 lakh crore.

Topic: RBI

3. RBI has given Certificate of Registration (CoR) to Aryaman Finance (India) Ltd.

• With CoR from RBI, Aryaman Finance (India) Ltd will commence the business of a Non-Banking Financial Institution.
• Aryaman Finance (India) Ltd is wholly owned subsidiary of Aryaman Financial Services Ltd (AFSL). 
• AFSL is a SEBI registered Category-I merchant banker, based in Mumbai.
• It carries out business of lead management and syndication of Small and Medium Sized (₹10 crore to ₹200 crore) IPO’s, FPO’s, Rights Issues etc.
• AFSL said its subsidiary has received CoR to carry on the business of a Non-Banking Financial Institution (Category: Type II NBFC-Non-Deposit taking-Investment and Credit Company).

Topic: Miscellaneous

4. India has assumed charge as Vice Chair of the Kimberley Process from 25 December 2025.

• India will assume its chairpersonship from 1st January 2026.
• The Kimberley Process is a tripartite initiative. It involves governments, the international diamond industry and civil society.
• Its aim is to prevent the trade in conflict diamonds.
• As Vice Chair in 2025 and Chair in 2026, India is expected to work closely with all participants and observers.
• During this period, the focus will be on ensuring rule-based compliance, and enhancing its credibility.
• India and participants and observers will work towards making the Kimberley Process a more inclusive and effective multilateral framework.
• As of now, the Kimberley Process has 60 participants. They account for more than 99% of the global rough diamond trade.
• This makes Kimberley Process the most comprehensive international mechanism that governs the diamond sector.
• India has been entrusted with the chair of the Kimberley Process for the third time.
• The Kimberley Process Certification Scheme (KPCS) became effective on 1 January 2003. It has evolved into an effective mechanism for limiting the trade in conflict diamonds.
• United Nations Security Council resolutions define conflict diamonds as rough diamonds used by rebel groups or their allies to provide money for conflicts that weaken legitimate governments.

Topic: MoUs/Agreements

5. An MoU signed between NIFTEM-K and Ministry of Minority Affairs for PM VIKAS Scheme.

• The Ministry of Minority Affairs has selected the National Institute of Food Technology Entrepreneurship and Management (NIFTEM), Kundli, as a Project Implementing Agency (PIA) to implement the scheme “PM VIKAS.”
• On 22 December, an MoU has been signed regarding this between NIFTEM Kundli and the Ministry of Minority Affairs at New Delhi.
• The scheme aims at capacity building of minority youth through skill training and livelihood support.
• NIFTEM-K is among the few Institutes of National Importance selected for the programme.
• A total of 2,110 beneficiaries from minority communities will be trained under the project.
• Training will be provided in three categories—Food Processing Technician, Millet Products Processor, and Assistant Baking Technician.
• The project will be implemented across seven locations in four states of Jharkhand, Bihar, Punjab and Haryana.
• NSQF-compliant and NCVET-approved courses will be delivered with certification from approved institutions.
• The programme is expected to be rolled out in January 2026 with placement and self-employment support.

Topic: Corporates/Companies

6. VoxelGrids has developed India’s first indigenously built MRI scanner.

• VoxelGrids is a medical technology startup backed by Zoho.
• This is an important step for the Made-in-India medtech sector.
• India currently relies largely on imported MRI systems.
• The MRI scanner is installed at Chandrapur Cancer Care Foundation near Nagpur.
• The project was led by founder Arjun Arunachalam and took nearly 12 years to complete.
• Magnetic field strength of the MRI scanner is 1.5 tesla.
• VoxelGrids’ scanner does not use liquid helium. This lowers production costs.
• Manufacturing costs are lower by around 40%.
• It has a standard bore size and its design improves overall power efficiency.
• The company is currently offering a pay-per-use model to hospitals.
• VoxelGrids has not yet announced a full commercial launch. It manufactures scanners in Bengaluru.
• VoxelGrids is expected to announce a commercial launch by the end of the current fiscal year.

Topic: Appointments

7. B. Sairam appointed as the Chief Executive Officer of Coal India Limited.

• B. Sairam has been appointed as the Chief Executive Officer of Coal India Limited by the company’s board.
• The appointment has been made to strengthen leadership at India’s largest coal-producing public sector enterprise.
• The appointment took effect from December 15, 2025.
• His tenure will continue until his superannuation or until further orders, whichever occurs earlier.
• Coal India Limited plays a crucial role in meeting India’s energy requirements, particularly for the power sector.
• B. Sairam is a graduate mining engineer from NIT Raipur and holds an MBA in Energy Management.
• Prior to this role, he served as Chairman-cum-Managing Director of Northern Coalfields Limited.
• He has earlier worked as Director (Technical) at Central Coalfields Limited, contributing to logistics and mining projects.

Topic: Indian Economy/Financial Market

8. 100% Australian tariff lines will be zero-duty for Indian exports from 1st January 2026.

• Commerce Minister Piyush Goyal made this announcement and said that this will bring new opportunities for labour-intensive sectors.
• Indian exports will face zero import duty on all Australian tariff lines from January 1.
• He talked about benefits of India-Australia Economic Cooperation and Trade Agreement on its third anniversary.
• He said the agreement has led to sustained export growth, deeper market access, and stronger supply-chain resilience during the past three years.
• He said that India's exports to Australia increased by eight per cent in 2024-25.
• He highlighted that the agreement is benefiting Indian exporters, MSMEs, farmers, and workers.
• He said gains were seen across manufacturing, chemicals, textiles, plastics, pharmaceuticals, petroleum products, and the gems and jewellery sector.
• He also said that Gems and Jewellery exports increased 16 between April and November 2025.
• India-Australia Economic Cooperation and Trade Agreement was signed on April 2, 2022.
• A tariff line refers to a specific product classification in customs schedule of a country.
• It is identified by a unique code used to apply duties and taxes for international trade.