Banking Awareness of 8, 9 and 10 January 2026

Topic: Banking System

1. IDFC FIRST Bank has launched a new credit card, Zero-Forex Diamond Reserve Credit Card.

• This new credit card has been launched for affluent customers, frequently travelling internationally.
• It offers zero foreign exchange markup on all international spending.
• The card also offers reward points on hotel and flight bookings, travel lounges, among others.
• The credit card is priced at ₹3,000 plus GST.
• Customers can get the annual fee waived from the second year.
• The waiver applies if yearly spending reaches ₹6 lakh.

Topic: Banking System

2. Tamilnad Mercantile Bank and fintech company TechFini has partnered to strengthen the bank’s UPI infrastructure.

• The MoU will strengthen the bank's UPI acquiring and issuing capabilities.
• TechFini will function as the Technology Service Provider for Tamilnad Mercantile Bank.
• The partnership is aimed at enabling faster, secure and scalable UPI infrastructure for payment aggregators, NBFCs, merchants, and fintech partners across India. 
• The partnership will expand UPI usage in lending operations and also improve UPI-based collection processes.
• TechFini’s UPI Autopay will be used for these services. This will automate EMI payments through UPI.
• Repayments will be debited directly from UPI handles.
• TechFini operates a cloud-native UPI platform, which can process up to 10,000 transactions per second.
• The bank aims to extend secure digital payments nationwide.
• TechFini is a UPI infrastructure and fintech solutions provider.

Topic: RBI

3. The registration of 35 non-banking financial companies has been cancelled by Reserve Bank of India.

• RBI has taken the action because of non-compliance with regulatory norms.
• These companies are now not allowed to function as NBFCs.
• The cancellations were made under the Reserve Bank of India Act, 1934 using powers under Section 45-IA.
• The effective period of cancellation is from 9 December to 31 December 2025.
• As per RBI, some companies failed to meet registration conditions.
• In some cases, the firms had stopped NBFC operations.
• RBI disclosed regulatory action publicly on 7 January 2026.
• In addition, 16 NBFCs voluntarily surrendered their registration certificates and RBI accepted voluntary surrenders.
• These were mostly linked to mergers or amalgamations.
• Some were because of dissolution or strategic exit from the NBFC business.
• RBI restored the registration of Social Leasing India Ltd., an NBFC based in Dehradun.

Topic: MoUs/Agreements

4. An MoU signed between ONGC and NSTFDC for CSR-funded development of Eklavya Model Residential Schools.

• An MoU has been signed between Oil and Natural Gas Corporation Limited (ONGC) and the National Scheduled Tribes Finance and Development Corporation (NSTFDC) for CSR-funded infrastructure development of Eklavya Model Residential Schools.
• NSTFDC is an autonomous body of the Ministry of Tribal Affairs.
• The MoU was signed on 5 January 2026 at Dr. Ambedkar International Centre, New Delhi.
• The agreement has been aimed at the empowerment of tribal students through career mentorship, digital education and augmentation of school infrastructure.
• The initiative has been aligned with the Central Sector Scheme of Eklavya Model Residential Schools being steered by the Ministry of Tribal Affairs.
• Such schools represent a crucial step towards preparing a modern and aware generation through a blend of education, technology, and holistic development.
• Currently, 499 EMRS schools are operational across the country.
• ONGC, a Maharatna CPSE under the Ministry of Petroleum and Natural Gas, has sanctioned ₹28 crore for the implementation of the CSR project.
• The approved funds will be utilised for strengthening digital learning infrastructure and for health and hygiene interventions, including sanitary pad vending machines and incinerators for girl students.
• A total of 144 Eklavya Model Residential Schools located across 11 States and Union Territories will be covered under this initiative.
• More than 35,000 tribal students are expected to benefit through improved access to quality education, skills and equal opportunities.

Topic: Infrastructure and Energy

5. A three-year pipeline of Public Private Partnership projects worth Rs 17 lakh crore rupees has been created by Centre.

• A three-year Public Private Partnership (PPP) project pipeline has been created by the Department of Economic Affairs in view of the implementation of the announcement made in the Union Budget 2025-26.
• The project pipeline includes 852 projects, which are spread across Central Infrastructure Ministries, States, and Union Territories.
• The combined total project cost is over 17 lakh crore rupees.
• The pipeline provides early visibility for upcoming PPP projects.
• It helps investors plan their investments.
• It also enables developers and other stakeholders to undertake more informed planning and investment decisions.

Topic: Appointments

6. Ramesh Kumar Juneja has assumed the position of Chairman of the Council for Leather Exports (CLE).

• The assumption of charge took place during the 184th meeting of the Committee of Administration of CLE held in Chennai on 6 January 2026.
• The Council for Leather Exports is an Export Promotion Council sponsored by the Ministry of Commerce and Industry.
• Mr. Juneja has been associated with CLE for over 15 years and has served as Regional Chairman of the Eastern Region since 2014.
• He served as Vice-Chairman of CLE from April 2024 prior to assuming the chairmanship.
• His leadership contributions have helped the leather industry achieve record exports in leather goods and safety wear.
• Mr. Juneja is the founder of JC Group and has over four decades of experience in the leather industry.
• He currently serves as Vice-Chairman of the Indo-Italian Chamber of Commerce, facilitating India-Italy collaboration across multiple sectors.

Topic: Miscellaneous

7. India has become world's first country to commercially produce bio-bitumen.

• The achievement was announced by Road Transport and Highways Minister Nitin Gadkari at the CSIR Technology Transfer Ceremony in New Delhi.
• Bio-bitumen is used in road construction. It serves as an alternative to conventional bitumen, which is derived from crude oil.
• Mr Gadkari congratulated CSIR on this historic milestone and said that the initiative will assist in lowering pollution from crop residue burning.
• Mr Gadkari described the initiative as a step toward Viksit Bharat 2047.
• Science and Technology Minister Dr Jitendra Singh also spoke at the event.
• He said the development is a sign of a new phase of clean and green highways in India.
• He also said that the initiative supports the Waste to Wealth mission and will help convert agricultural waste into useful resources.

Topic: Agriculture

8. Livestock Sector reported to be strengthening India’s Agricultural Economy.

• The livestock sector has been reported to be strengthening India’s agricultural economy, according to government data.
• The sector has recorded a compound annual growth rate of 12.77% since 2014–15.
• The contribution of livestock to the Gross Value Added (GVA) of the total agriculture and allied sectors has increased from 24.38% in 2014-15 to 30.87% in 2023-24 (at current prices).
• The livestock sector accounted for 5.49% of total Gross Value Added in 2023–24 at current prices.
• India continues to rank first in global milk production, contributing 25% of world output.
• Milk production increased from 146.31 million tonnes to 247.87 million tonnes between 2014–15 and 2024–25.
• Per capita milk availability in India stood at 485 grams per day, higher than the global average of 328 grams.
• As per Food and Agriculture Organization Corporate Statistical Database (FAOSTAT) production data for 2023, India ranks second in egg production and fourth in meat production globally.
• Egg production in the country increased from 78.48 billion in 2014-15 to 149.11 billion in 2024-25, registering a compound annual growth rate (CAGR) of 6.63% over the past 11 years.
• The per capita availability of eggs is 106 per year in 2024-25, compared to 62 eggs in 2014-15.
• Meat production increased from 6.69 million tonnes in 2014-15 to 10.50 million tonnes in 2024-25, registering a CAGR of 4.61% over the past 11 years.