3 January 2026 Current Affairs

🛣️ Infrastructure & Transport

• NHAI withdrew the Know Your Vehicle (KYV) requirement for Car/Jeep/Van FASTag category to ease compliance for users.

• National Test House (NTH) signed an MoU with NHAI to enhance quality control and safety in national highway construction.

🏭 Industry & Trade

• India extended import restrictions on low-ash metallurgical coke for six months (1 Jan–30 June 2026) to protect domestic producers.

• Exports contribute nearly 21% of India’s GDP , supporting forex inflows, current account balance, and macroeconomic stability.

🤖 Science, Technology & Education

• Indian AI Research Organization (IAIRO) will be established at GIFT City, Gandhinagar to strengthen India’s AI research ecosystem.

• NITI Aayog praised Gujarat Biotechnology University (GBU), GIFT City as a benchmark for globalisation of higher education.

• Delhi Government , with IIT Kanpur , will implement an AI-based Intelligent Grievance Monitoring System to improve public service delivery.

• RBI launched an official podcast series titled “RBI Talks: Paisa to Policy” to enhance financial awareness.

🏛️ Governance & Administration

• Assam became the first Indian state to constitute its 8th State Pay Commission .

• Indian Insurance Companies (Foreign Investment) Amendment Rules, 2025 were notified, aligning norms with 100% FDI approval.

🏦 Banking, Finance & Economy

• RBI eased capital adequacy norms for NBFCs lending to high-quality infrastructure projects via Prudential Norms Amendment Directions, 2026 .

• RBI projects GNPA ratio of SCBs to improve to 1.9% by March 2027 (baseline scenario).

• Household debt rose to 41.3% of GDP by March 2025 , above the 5-year average of 38.3%.

• RBI imposed ~₹27 crore penalties across 40 instances on banks during CY 2025 .

• Under severe stress , up to 4 SCBs may need to use Capital Conservation Buffers (CCBs) , RBI warned.

• If top 3 NBFC borrowers default , system-level CRAR would fall by 223 bps , pushing 9 NBFCs below 15% norm .

• Floating Rate Savings Bond (FRSB) 2020 (Taxable) interest rate announced for Jan–June 2026 .

• Canara Bank assigned additional MD & CEO charge to Hardeep Singh Ahluwalia from 1