NATIONAL NEWS

Sixteenth Finance Commission (XVIFC) Submits Report to the President of India

The Sixteenth Finance Commission (XVIFC), chaired by Dr. Arvind Panagariya, officially submitted its report to the President of India.

The recommendations will guide India’s fiscal framework for 1 April 2026 to 31 March 2031, shaping tax devolution, grants-in-aid, and disaster management financing.

This marks a major development in India’s fiscal federal structure.

The Finance Commission, constituted under Article 280 of the Constitution, recommends:

Distribution of net tax proceeds between the Centre and States

Allocation among States

Principles for grants-in-aid

Recommendations on disaster management funding

Any additional matters assigned by the President under the Terms of Reference (ToR)
The XVIFC, set up in 2023, has completed its mandate for the 2026–31 award period.

The Commission held wide-ranging consultations, including:
Union and State Governments, local bodies, former Finance Commission members, leading academic institutions, multilateral organisations, and domain experts, supported by deliberations with the Advisory Council.

 

INTERNATIONAL NEWS

3rd International Ayurveda Conference Concludes in Sao Paulo, Brazil

Dinesh Bhatia, Ambassador of India to Brazil, inaugurated the 3rd International Ayurveda Conference in Sao Paulo, Brazil.

The conference was jointly organized by the Swami Vivekananda Cultural Centre (SVCC) and Conayur Sao Paulo (Conselho Nacional de Ayurveda).

The event was held from 14–15 November 2025, marking 40 years of Ayurveda practice in Brazil.

Brazil is the first South American country to officially recognize Ayurveda.

The conference aimed to strengthen India-Brazil cooperation in traditional medicine and holistic health systems.

The theme of the 2025 edition was “Diversity and Inclusion in Ayurveda: Caring for Everybody and Every Being”.

The event was held under the patronage of the Indian Council for Cultural Relations (ICCR).

Participants included scholars, Ayurveda practitioners, integrative medicine experts, researchers, students, and health regulators from India, Brazil, and other Latin American countries.

The WHO–Ministry of AYUSH Global Summit on Traditional Medicine is scheduled in New Delhi from 17–19 December 2025.

 

SCIENCE & TECHNOLOGY

India to Establish West Africa’s First IIT Campus in Nigeria Under NEP 2020 Vision

India is expanding its global education footprint, with Nigeria set to host West Africa’s first IIT campus, aligned with NEP 2020 vision of internationalising Indian education.

Nigeria’s Education Minister, Dr. Maruf Tunji Alausa, confirmed the plan in coordination with the Indian High Commission in Abuja.

The new IIT campus will be located at the Federal Government Academy (FGA), Suleja, upgraded into a centre of excellence with Indian support.

The model will follow IIT Madras–Zanzibar, with India providing faculty and training, while Nigeria offers infrastructure and logistics.

IIT Nigeria is part of India’s broader globalisation effort, following campuses in Zanzibar (2023) and Abu Dhabi (2024), with future plans in Saudi Arabia, Malaysia, Thailand, and the UK.

 

BANKING

SBI and BoB to Lead Indian Digital Payment Intelligence Corporation

State Bank of India (SBI) and Bank of Baroda (BoB) will lead the creation of the Indian Digital Payment Intelligence Corporation (IDPIC) to detect and prevent digital payment frauds in real time.

All 12 public sector banks will take equity stakes in IDPIC, which will be established as a Section 8 company with ₹500 crore authorised capital and ₹200 crore paid-up capital.

Initially, two senior executives from SBI and BoB will join as directors, and SBI and BoB will each contribute ₹10 crore as initial funding.

The platform aims to strengthen fraud detection, as bank fraud amounts surged to ₹36,014 crore in FY25, nearly three times the FY24 level.

Banks currently use tools like AI and coordinate with the Indian Cyber Crime Coordination Centre (I4C) to curb cybercrimes and detect mule accounts.

The establishment of IDPIC follows the A.P. Hota Committee’s recommendation to create a Digital Payments Intelligence Platform.

Lxme Introduces India’s First Women-Exclusive UPI Platform ‘LxmePay’

Lxme has launched LxmePay, India’s first UPI platform exclusively for women, promoting smarter and conscious financial behaviour.

The platform addresses challenges women face with fast UPI payments, such as overspending, lack of tracking, and minimal long-term rewards.

Unlike typical cashback-based apps, LxmePay rewards every transaction—including receiving money with digital gold, helping women build long-term wealth.

 

RANKS, INDICES & REPORTS

Ind-Ra Projects India’s Q2 FY26 Gross Domestic Product Growth at 7.2%

India Ratings and Research (Ind-Ra), a Fitch Group subsidiary, projected India’s Gross Domestic Product (GDP) growth at 7.2% for Q2 FY26, driven by robust private consumption and a resilient services sector.

The 7.2% GDP projection is higher than 5.6% in Q2 FY25, but lower than 7.8% in Q1 FY26, which was the fastest growth in five quarters.

Nominal GDP growth may have slipped below 8% YoY in Q2 FY26, likely impacting government tax collections.

Private consumption is estimated to have grown 8% in Q2 FY26, compared to 7% in Q1 FY26 and 6.4% in Q2 FY25, due to income tax cuts (Union Budget FY26), record low inflation, and stable rural wage growth.

Investment demand increased 7.5% YoY in Q2 FY26, supported by stable government capital expenditure (Capex) amid global uncertainty.

 

DEFENCE

AJEYA WARRIOR-25, the 8th India–UK Joint Military Exercise

The eighth edition of the India–UK Joint Military Exercise AJEYA WARRIOR-25 began on 17 November 2025 at the Foreign Training Node, Mahajan Field Firing Ranges, Rajasthan.

The bilateral exercise is scheduled from 17–30 November 2025 and involves 240 personnel, with equal representation from the Indian Army and the British Army.

The Indian Army is represented by troops of the Sikh Regiment, known for high professionalism and operational experience.

The exercise is conducted under a United Nations mandate and focuses on counter-terrorism operations in a semi-urban environment.

Training activities include joint mission planning at Brigade level, integrated tactical drills, simulation-based scenarios, and company-level field exercises replicating real-life counter-terror contingencies.

The exercise aims to enhance interoperability, share best practices, improve tactical proficiency, and develop coordinated responses to complex security situations.

AJEYA WARRIOR, held biennially since 2011, is a flagship defence engagement between India and the UK, strengthening military cooperation, peacekeeping collaboration, and commitment to regional and global security.

The 2025 edition reinforces shared values of professionalism, cooperation, and stability, while boosting capabilities for UN peacekeeping, semi-urban warfare, and joint counter-terror operations.

 

AWARDS & PRIZES

Oscar Piastri Wins Don Award 2025

Australian Formula One driver Oscar Piastri has been honoured with the Don Award 2025, Australia’s highest sporting honour, presented by the Sport Australia Hall of Fame.

The announcement was made ahead of the Las Vegas Grand Prix, recognising his outstanding performances in the 2025 F1 season and his status as a national inspiration.

Piastri’s breakthrough season includes Grand Prix victories in China, Bahrain, Saudi Arabia, Miami, Spain, Belgium, and the Netherlands, along with multiple podiums, pole positions, and consistent points finishes, establishing him as a strong contender for the 2025 F1 Drivers’ Championship.

His performances place him among Australia’s top motorsport names, reviving comparisons with Mark Webber and Daniel Ricciardo.

The Don Award, named after Sir Donald Bradman, honours athletes whose achievements and character inspired the nation in the past year.

Piastri described the recognition as “a deeply humbling honour,” expressing pride in representing Australia on the global Formula One stage.

The award reflects Piastri’s growing influence in international motorsport. With seven Grand Prix wins and a rising global fan base, he is inspiring the next generation of Australian motorsport talent.

Officials from the Sport Australia Hall of Fame praised his professionalism, humility, and consistent excellence, noting that his achievements embody both individual success and national pride.

Tom Cruise Receives Honorary Academy Award at 2025 Governors Awards

Tom Cruise, aged 63, was honoured with an honorary Academy Award at the 2025 Governors Awards held at the Ray Dolby Ballroom, Los Angeles.

This is Cruise’s first-ever Oscar, recognising over four decades of contribution to acting, producing, and promoting the theatrical moviegoing experience.

He received a two-minute standing ovation, reflecting his global influence.

A career montage preceded the award, featuring iconic works such as
Taps (1981), Born on the Fourth of July (1989), Jerry Maguire (1996), Magnolia (1999), Top Gun: Maverick (2022), and Mission: Impossible — The Final Reckoning (2025).

The award holds major significance as the Governors Awards are not televised, aligning with Cruise’s long-held stance in favour of theatrical releases over streaming.

Cruise has been nominated four times previously, and this honour signals renewed Academy recognition as he continues exploring diverse roles.

The honour was presented by director Alejandro González Iñárritu, who is collaborating with Cruise on a 2026 film in London

 

APPOINTMENTS & RESIGNATIONS

UNICEF Appoints Keerthy Suresh as Celebrity Advocate for Child Rights and Gender Equality

The United Nations Children’s Fund (UNICEF) India appointed National Award-winning actress Keerthy Suresh as its Celebrity Advocate to promote awareness on children’s rights, mental health, education, and gender equality.

As Celebrity Advocate, Keerthy Suresh will use her influence to create awareness on the mental health and well-being of children and adolescents, gender equality, empowerment of girls, quality and inclusive education, and child protection and rights.

Keerthy Suresh began her acting career as a child artist in the Malayalam film Geetanjali (2013).

She later appeared as a lead actress in Tamil, Telugu, and Malayalam

In 2018, she received the National Film Award for the Telugu biopic “Mahanati”, based on the life of legendary actress Savitri.

 

IMPORTANT DAYS

World Toilet Day

World Toilet Day 2025 is observed on 19 November to raise awareness and inspire action towards tackling the global sanitation crisis and achieving Sustainable Development Goal (SDG) 6 – Clean Water and Sanitation for All by 2030.

The day was founded by Jack Sim, a Singaporean philanthropist, who established the World Toilet Organization on 19 November 2001 and declared the date as World Toilet Day.

The observance aims to highlight the importance of complete sanitation systems, not just toilets—covering wastewater treatment, stormwater management, and handwashing.

SDG 6 emphasizes that waste must be safely processed, and global efforts to address sanitation challenges were further strengthened in 2010.

In 2013, the Government of Singapore and the World Toilet Organization initiated Singapore’s first UN resolution titled “Sanitation for All”, aimed at ending the world sanitation crisis by 2025.

Following this, World Toilet Day became an official UN observance, with the resolution being adopted by 122 countries at the 67th UN General Assembly session in New York.