Economy and Business
The Indian Rupee experienced a significant dip, sliding to a record low of 91.08 against the US dollar, primarily influenced by foreign institutional investor (FII) outflows and foreign direct investment (FDI) repatriation. However, experts suggest that this depreciation might be partly speculative, with the currency expected to stabilize as its Real Effective Exchange Rate becomes more competitive internationally.
In response to market dynamics, the Reserve Bank of India's (RBI) $5 billion dollar-rupee buy-sell swap program saw overwhelming demand, attracting bids worth $10.3 billion. The central bank accepted $5.07 billion, aiming to inject durable liquidity into the inter-bank market and improve policy rate cut transmission.
Indian equities saw a decline, reflecting caution among investors due to persistent FII selling and the weakening rupee. Analysts anticipate sideways trading in the near term, citing a lack of significant market triggers.
On the policy front, the government is reportedly planning a credit guarantee scheme to alleviate stress in the microfinance sector. A significant step in industrial policy includes the notification of a ā¹7,280-crore scheme aimed at manufacturing rare earth magnets within India. Furthermore, the Lok Sabha has cleared the Insurance Amendment Bill, which will permit up to 100% Foreign Direct Investment (FDI) in the insurance sector.
In the telecom sector, Morgan Stanley projects a 16-20% increase in telecom tariffs in the first quarter of FY27. Apple's manufacturing prowess in India was highlighted by its record export of $2 billion worth of iPhones in November. Global financial giant JP Morgan is set to establish Asia's largest Global Capability Center (GCC) in India, signaling confidence in the country's talent pool.
Other business news includes the Centre's plan to sell up to a 3% stake in Indian Overseas Bank, Ola Electric founder Bhavish Aggarwal selling personal shares to repay a ā¹260 crore promoter loan, and quick commerce unicorn Zepto potentially filing its draft IPO papers soon. The PFRDA's approval for gold and silver ETFs is expected to diversify retirement investment options.
Politics and Governance
Two significant bills were introduced in the Lok Sabha. The Viksit Bharat Guarantee for Rozgar and Aajeevika Mission (Gramin) Bill, 2025 (VB-G RAM G Bill), aims to replace the existing Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), though its introduction faced strong protests from opposition members concerned about the removal of Mahatma Gandhi's name and changes to the funding structure. Additionally, The Sustainable Harnessing and Advancement of Nuclear Energy for Transforming India Bill, 2025, was also presented.
In state politics, Karnataka's Deputy Chief Minister DK Shivakumar criticized the Central government, urging it to prioritize the release of funds for the crucial Mahadayi scheme.
Science and Technology
Indian researchers have made a breakthrough in medical science by developing a nanoparticle-based multi-target therapy for Alzheimer's disease, which could offer a more comprehensive treatment approach. The Council of Scientific and Industrial Research (CSIR) was recognized for its pivotal role in India's scientific and technological advancements in 2025, particularly in innovation, sustainability, and healthcare.
India is also moving towards self-reliance in chip manufacturing with the unveiling of DHRUV64, a pioneering initiative for a self-reliant chip ecosystem. In space exploration, ISRO has lined up seven launches, including an uncrewed Gaganyaan mission, by March 2026. The IndiaAI Mission is actively seeking global submissions for a compendium on the real-world impact of AI in agriculture.
Social Welfare
Marking the International Day of Persons with Disabilities, welfare assistance totaling ā¹54.54 lakh was distributed to 206 differently-abled beneficiaries in Tamil Nadu. The state government's commitment to the physically challenged was highlighted by its allocation of ā¹1,852 crore for their upliftment, significantly exceeding the Union Government's ā¹300 crore for the entire country.
The managing committee for the special fund for the reconstruction and rehabilitation of ex-servicemen in Chandigarh approved an increase in the rates of various welfare schemes, enhancing financial assistance to eligible beneficiaries. The central government has also disbursed a substantial amount of ā¹62,685 crore to Himachal Pradesh between FY 2022-23 and 2024-25, supporting development projects and social welfare initiatives.
International Relations
Prime Minister Narendra Modi undertook a significant three-nation tour, concluding visits to Jordan and Ethiopia, and proceeding to Oman. During his visit to Jordan, India and Jordan celebrated 75 years of diplomatic ties, agreeing to deepen their bilateral partnership and aim to double bilateral trade to $5 billion. In Ethiopia, PM Modi held extensive talks with his counterpart Abiy Ahmed Ali, elevating historical ties to a strategic partnership and signing three Memorandums of Understanding (MoUs).
India also reiterated its stance on West Asian conflicts, with the Prime Minister in Jordan and External Affairs Minister S. Jaishankar in Israel. India notably voted in favor of a UN General Assembly resolution to renew the mandate of the UN Relief and Works Agency (UNRWA) for Palestine refugees.
Appointments
Several key appointments were announced in Public Sector Undertakings (PSUs). B. Sairam has been appointed as the Chairman-cum-Managing Director of Coal India Limited, effective until his superannuation on March 31, 2028. Ravi Ranjan has been appointed as the Managing Director of the State Bank of India (SBI). Vamsi Rama Mohan Burra has been recommended for the position of Chairman and Managing Director of Power Grid Corporation of India Limited (PGCIL).
In state-level appointments, Bihar Chief Minister Nitish Kumar distributed appointment letters to 2,390 new recruits for the Bihar State Power (Holding) Company Limited. Similarly, 196 State Civil and Technical Police Constables (SCTPCs) from Chittoor, Andhra Pradesh, are set to receive their appointment orders from CM Naidu.
Sports (Non-Cricket)
In chess, Indian Grandmaster R. Praggnanandhaa has been performing exceptionally, becoming a co-leader at the London Chess Classic Open and qualifying for the 2026 Candidates Tournament after winning the FIDE Circuit. Indian hockey teams showcased strong performances, with the junior men's team securing a dominant 17-0 victory against Oman in the Junior Hockey World Cup, and the junior women's team routing Ireland 4-0. In motorsport, Kush Maini has signed with ART for 2026, marking a significant step towards his Formula 1 aspirations. Indian shooters Manu Bhaker and Simranpreet Kaur Brar won gold medals at the 68th National Shooting Championships. India also emerged victorious in the Squash World Cup, defeating Hong Kong 3-0.