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📝 Revision Notes
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International Relations
India’s BRICS Presidency 2026
India will chair BRICS in 2026 with an agenda built on four pillars: Resilience (economic shocks), Innovation (DPI and equitable AI), Cooperation (intra-BRICS trade and governance reform), and Sustainability (climate action and SDGs).
Geopolitics
BRICS Presidency Handover Symbolism
The ceremonial gavel used during the BRICS presidency handover was sustainably crafted, symbolising environmental consciousness, shared responsibility, and continuing cooperation among BRICS nations.
Education & Culture
Auroville Foundation Recognition
The Parliamentary Standing Committee recommended granting Auroville Foundation “Institution of National Importance” status due to its UNESCO-backed international character and contribution to global peace and harmony.
Rural Development
New Rural Employment Law
The new legislation replacing MGNREGA guarantees 125 days of wage employment per rural household annually (up from 100 days), aiming to modernise rural employment and strengthen livelihoods.
Business & Economy
Insurance Amendment Bill Reforms
India’s Insurance Amendment Bill introduces major reforms including 100% FDI in insurance, strengthened consumer protection, enhanced data privacy measures, transparency in claim rejections, and accountability penalties.
Business & Wealth
Elon Musk’s Net Worth Surge
Elon Musk’s net worth reached unprecedented levels following the Delaware Supreme Court’s reinstatement of Tesla stock options, significantly increasing the value of his holdings in the electric vehicle company.
Finance & Governance
B P Kanungo at IIFL Finance
Former RBI Deputy Governor B P Kanungo was appointed Non-Executive Chairman of IIFL Finance to provide strategic direction, strengthen governance, and safeguard stakeholder interests using his central banking expertise.
Technology
HCLTech-ASN Bank Partnership
HCLTech partnered with ASN Bank to modernise and standardise digital operations and IT architecture, streamlining services, reducing vendors, and automating core banking to enhance efficiency and customer experience.
Space & Science
Gaganyaan Drogue Parachutes
Drogue parachutes are critical in ISRO’s Gaganyaan Crew Module deceleration system as they stabilise the module and reduce speed before main parachutes deploy, ensuring safe descent and landing for astronauts.
Agriculture & Heritage
Kisan Diwas Observance
Kisan Diwas (National Farmers Day) is observed to honour Chaudhary Charan Singh, India’s fifth Prime Minister, remembered for his strong advocacy of farmers, land reforms, and rural empowerment policies.
🎴 Revision Flashcards
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What are the four pillars of India’s BRICS Presidency 2026?
Resilience, Innovation, Cooperation, Sustainability
Focus areas: economic shocks, DPI/AI, trade, climate action
Tap to Reveal
How many days of employment does the new rural law guarantee?
125 days
Increased from MGNREGA’s 100 days per rural household annually
Tap to Reveal
What FDI limit did the Insurance Amendment Bill introduce?
100% FDI
Also strengthens consumer protection and data privacy
Tap to Reveal
Which institution did the Parliamentary Committee recommend for ‘National Importance’ status?
Auroville Foundation
UNESCO-backed international community for global peace and harmony
Tap to Reveal
What caused Elon Musk’s recent net worth surge?
Tesla stock options reinstatement
Delaware Supreme Court decision significantly boosted his holdings
Tap to Reveal
Who was appointed Non-Executive Chairman of IIFL Finance?
B P Kanungo
Former RBI Deputy Governor, providing governance and strategic direction
Tap to Reveal
What is the function of drogue parachutes in Gaganyaan?
Stabilise and slow before main parachutes
Part of ISRO’s crew module deceleration system for safe landing
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Kisan Diwas honours which farmers’ rights champion?
Chaudhary Charan Singh
India’s 5th PM, known for land reforms and rural empowerment
Think & Discuss
Economic Security vs. Foreign Investment: Balancing National Interest in Strategic Sectors
Context from today’s quiz: India’s Insurance Amendment Bill now permits 100% Foreign Direct Investment (FDI) in the insurance sector, marking a significant liberalisation of a sector that touches millions of Indian households. This comes at a time when India is simultaneously strengthening its regulatory frameworks, consumer protections, and data privacy measures. The decision reflects India’s confidence in its regulatory capacity while also raising questions about economic sovereignty in critical financial sectors.
🤔 Your Perspective Matters
India has historically maintained cautious FDI limits in sensitive sectors like insurance, banking, and defence. The new 100% FDI allowance in insurance represents a fundamental policy shift. While proponents argue this brings capital, expertise, and competition, critics worry about foreign control over a sector that manages Indian savings and risk coverage.
Does opening strategic financial sectors to complete foreign ownership strengthen India’s economy through competition and capital inflows, or does it compromise long-term economic sovereignty and national security?
Does opening strategic financial sectors to complete foreign ownership strengthen India’s economy through competition and capital inflows, or does it compromise long-term economic sovereignty and national security?
- Can regulatory frameworks alone protect national interest when ownership is 100% foreign, or does ownership itself confer strategic influence that regulation cannot fully counter?
- How do we evaluate the trade-off between immediate benefits (capital, technology, efficiency) versus long-term risks (profit repatriation, data security, crisis-time reliability) in sectors like insurance?
- Should India differentiate between “strategic” and “non-strategic” foreign investment even within the financial sector, or is a uniform liberal approach more beneficial for overall economic growth?
We’d love to hear your thoughts! Share your perspective in the comments.
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