RBI Initiates Review of NBFC Regulatory Framework

The Reserve Bank of India (RBI) has begun a comprehensive review of the Scale-Based Regulation (SBR) framework governing Non-Banking Financial Companies (NBFCs). Introduced in 2022, the framework was designed to align regulatory intensity with the size, complexity and systemic importance of NBFCs. The review reflects concerns over rising financial risks amid the sector’s rapid expansion.

Historic First in Global Gene Therapy

Abu Dhabi has achieved a landmark breakthrough in global healthcare by becoming the first place in the world to administer ITVISMA, a one-time gene therapy for spinal muscular atrophy (SMA). The treatment was successfully delivered at Sheikh Khalifa Medical City on December 28, 2025, positioning the UAE at the forefront of genomics-based precision medicine.

Banking Sector Records Sharp Improvement in Asset Quality

India’s banking system has achieved a significant turnaround in asset quality, with non-performing assets (NPAs) falling to their lowest levels in decades. According to the Reserve Bank of India (RBI), the gross NPA (GNPA) ratio of scheduled commercial banks declined to 2.1 per cent by September 30, 2025, while net NPAs dropped to 0.5 per cent, reflecting stronger balance sheets and effective risk management.

Supreme Court Revisits Aravalli Hills Protection Framework

In a significant development in environmental jurisprudence, the Supreme Court of India has stayed its earlier ruling concerning the Aravalli Hills and ordered the constitution of a new independent expert committee. The decision reflects judicial concern over ambiguity in defining the Aravalli range and the potential ecological fallout arising from mining activities in the region.

India Tests Indigenous Long-Range Guided Rocket

India’s indigenous artillery capability received a major boost with the successful maiden flight test of the Pinaka Long Range Guided Rocket (LRGR-120). Conducted by the Defence Research and Development Organisation (DRDO) from the Integrated Test Range (ITR), Chandipur, Odisha, the trial demonstrated extended range, precision guidance, and operational reliability, marking a critical milestone in the Indian Army’s rocket artillery modernisation programme.