CURRENT AFFAIRS – 05.01.2026

I. INTERNATIONAL AFFAIRS

1. Bangladesh Withdraws from T20 World Cup Matches in India

   • Bangladesh Cricket Board announced it will not play its scheduled matches in India for the ICC Men’s T20 World Cup 2026 due to security concerns and political tensions.

   • Requests the International Cricket Council (ICC) to relocate fixtures to a neutral venue (likely Sri Lanka).

   • Matches affected include group-stage games in Kolkata and Mumbai.

   • This escalates India–Bangladesh sporting diplomacy challenges ahead of the tournament scheduled from 7 Feb to 8 Mar 2026.

2. Global Geopolitical Flashpoints

   • Russia–Ukraine continued confrontations with cross-border attacks affecting civilian infrastructure and casualties.

   • Heavy floods in Afghanistan killed multiple civilians and displaced communities.

   • Taiwan reiterates defence commitments amid sustained Chinese military pressure.

   • A 6.5 magnitude earthquake in Mexico caused structural damage and triggered emergency responses globally.

3. Humanitarian and Crisis Developments

   • The United States military operation resulted in the capture of Venezuelan President Nicolás Maduro, sparking an international diplomatic crisis and global calls for de-escalation.

II. NATIONAL AFFAIRS (INDIA)

1. Prime Minister Inaugurates Volleyball ‘Mahakumbh’

   • PM Narendra Modi virtually inaugurated the 72nd Senior National Volleyball Championship in Varanasi(Sigra Stadium).

   • 58 teams from across India are participating.

   • Event marks enhanced focus on grassroots and national-level sports infrastructure.

2. India’s Olympic Vision for 2036

   • PM Modi stated India is “preparing with full strength” to host the 2036 Olympic Games.

   • Emphasis on bolstering sports infrastructure and global event readiness.

3. Cultural Diplomacy: International Exhibition

   • Prime Minister inaugurated an international exhibition of sacred Piprahwa Buddha relics in New Delhi, promoting Buddhist heritage diplomacy.

   • The exhibition is expected to attract global attention to India’s cultural narratives.

4. Vande Bharat Sleeper Train Launch

   • India’s first Vande Bharat overnight sleeper train will begin Guwahati–Howrah service later in January 2026.

   • Enhances premium connectivity in Northeast India.

5. Pharmacovigilance Ranking

   • India ranked 8th globally in WHO pharmacovigilance systems with the launch of the Indian Pharmacopoeia 2026, highlighting drug safety frameworks.

6. Labour and Social Security Reforms

   • New labour codes propose extended minimum wages and social security benefits for gig economy workers.

   • Draft rules include a “90 days or no benefits” clause, generating debate on protections for gig workers.

III. ECONOMY, BANKING & BUSINESS

1. Australia Eliminates Tariffs on Indian Exports

   • From 1 January 2026, Australia scrapped tariffs on all Indian exports.

   • Expected to significantly boost Indian labor-intensive manufacturing and export growth.

2. Indian Markets Rally

   • Nifty 50 and Sensex continued New Year gains with banking, metals, and auto stocks leading.

   • Midcap and smallcap indices also ended higher, showing broad market optimism.

3. Bharat Coking Coal Ltd IPO

   • BCCL IPO scheduled to open 8 January 2026 with a target of ₹1,300 crore capital raise.

4. RBI Reforms NBFC Infrastructure Exposure Norms

   • RBI issued final guidelines relaxing risk weights on NBFC exposures to infrastructure loans to improve credit flow in long-term projects.

5. Tech Hiring Downturn

   • India’s tech sector hiring dropped 24% at the start of 2026, marking the weakest demand in six years.

6. Rupee Outlook by SBI

   • SBI projected the Indian rupee may weaken towards ₹92 to USD in 2026 after a 5% depreciation in 2025.

IV. BANKING & FINANCE (Exam-oriented)

1. Forex Reserves Strength

   • India’s foreign exchange reserves rose by about $3.3 billion to approximately $696.6 billion (week ended 26 Dec 2025).

   • Foreign currency assets and gold reserves increased, indicating strong reserve health.

2. NBFC Capital Adequacy Relaxation

   • RBI reduced risk weights on NBFC infrastructure financing exposures to promote lending.

V. APPOINTMENTS & POLICY UPDATES

1. High Court Judicial Appointments

   • Centre approved Justice Mahesh Sharadchandra Sonak as Chief Justice of Jharkhand High Court, effective after incumbent retirement.

   • Additional Judges Ramesh Chander Dimri and Neerja Kulwant Kalson appointed to Punjab and Haryana High Court for two-year tenures.

2. Labour Code Extension

   • New draft proposes expanded minimum wages and gig worker benefits, part of broader labour reforms.

VI. SPORTS & EVENTS

1. ICC Men’s T20 World Cup 2026

   • The tenth edition will be co-hosted by India and Sri Lanka from 7 Feb to 8 Mar 2026 with 20 teamscompeting in 55 matches.

   • India enters as defending champions from the 2024 event.

2. Cricket – New Zealand Tour

   • New Zealand will tour India (11–31 Jan 2026) for 3 ODIs and 5 T20Is, serving as preparation ahead of the T20 World Cup.

   • Captains: Shubman Gill (India – ODIs), Suryakumar Yadav (India – T20Is), Michael Bracewell and Mitchell Santner for New Zealand.

3. Uttar Pradesh Kabaddi League 2026

   • Match 40 featured JD Noida Ninjas vs Brij Stars with continued league progress.

4. Football & Development Leagues

   • Rajasthan United FC defeated Sporting Club Delhi FC 3-1 in the Reliance Foundation Development League.

VII. UPCOMING MAJOR EVENTS

1. 2026 SAFF Futsal Championships

   • Men’s and Women’s SAFF Futsal Championships scheduled 13–26 January 2026 in Bangkok, Thailand, featuring national teams from South Asia.

2. 2026 BWF World Championships

   • 30th edition to be held in New Delhi, India, first time since 2009, further boosting India’s global sports hosting profile.

3. Republic Day Parade

   • India’s Republic Day parade scheduled 26 January 2026 in New Delhi, showcasing military and cultural tableaux.