💰 Economy & Banking

🔷 RBI Cuts Repo Rate to 5.25%

The Reserve Bank of India (RBI)'s Monetary Policy Committee (MPC) met and decided to cut the policy repo rate by 25 basis points (bps).
New Rate: The policy repo rate now stands at 5.25% (down from 5.5%).
Other Rates Adjusted: The Standing Deposit Facility (SDF) rate is now 5.00%, and the Marginal Standing Facility (MSF) rate and Bank Rate are 5.50%.
Stance: The MPC voted to continue with the neutral stance, which means they can raise or cut rates in the future as needed.
Reason: The decision was taken due to strong GDP growth (8.2% in Q2 FY26) and a favourable outlook on inflation, which eased to a low of 0.25% in October.

🔷 Fino Payments Bank Gets Nod to Become Small Finance Bank (SFB)

Fino Payments Bank has received the final approval from the Reserve Bank of India (RBI) to transition into a Small Finance Bank (SFB).
Significance: Fino becomes the first Payments Bank in India to receive approval for this transition, setting a precedent for other Payments Banks.
Payments Bank vs SFB: An SFB can perform all essential banking functions, including giving loans, which a Payments Bank cannot do.
Objective: The move will allow Fino to offer a wider range of products and better serve its customer base, mainly in rural and semi-urban areas.

🌐 International Relations & Agreements

🔷 India and Russia Hold 23rd Annual Summit

The 23rd Annual Summit between Indian Prime Minister and Russian President was held in Moscow, Russia.
Strategic Partnership: The leaders reaffirmed the "Special and Privileged Strategic Partnership", marking 25 years since the original Strategic Partnership (2000–2025).
Key Agreements: Major pacts were signed to push bilateral trade to USD 100 billion by 2030 and to deepen cooperation in nuclear energy (Kudankulam units, Small Modular Reactors - SMRs).
Defence & Connectivity: They agreed to increase joint production of defence equipment under 'Make in India' and fast-track projects for the International North-South Transport Corridor (INSTC) and the Chennai–Vladivostok Maritime Corridor.

🔬 Science & Technology

🔷 DRDO Successfully Tests Dynamic Ejection System

The Defence Research and Development Organisation (DRDO) successfully conducted a test of its Indigenous Dynamic Ejection Test system.
Location: The test was held at the Rocket Sled Test Facility (RSTF).
Purpose: This test is crucial for verifying the performance and safety of the pilot escape system used in Indian fighter aircraft.
Benefit: The indigenous test facility will reduce India's dependency on foreign testing ecosystems and significantly cut costs, thereby boosting aerospace self-reliance.

🔷 NITI Aayog and IBM Unveil Quantum Economy Roadmap

NITI Aayog's Frontier Tech Hub and IBM jointly unveiled a Roadmap to transform India into a leading Quantum-Powered Economy by 2047.
Phase 1 (2025–2030): This phase focuses on rapidly building quantum hubs, creating a skilled workforce, and funding at least 50 startups in the quantum technology domain.
Long-Term Goal: Quantum technology is expected to revolutionize computing, communications, and sensing for applications in defence, finance, and medicine.

🪖 Defence & Security

🔷 India and Malaysia Commence Exercise Harimau Shakti

The 5th edition of the joint military exercise 'Harimau Shakti' between India and Malaysia has commenced.
Location: The exercise is being held in the semi-urban and jungle terrain of Bakloh, Himachal Pradesh.
Objective: The goal is to enhance interoperability (ability to work together) between the two armies in planning and executing various operations, especially in counter-terrorism scenarios.
Indian Contingent: The Indian side is represented by a battalion from the Parachute Regiment.

🏛️ Polity & Governance

🔷 Right to Disconnect Bill Introduced in Lok Sabha

A private member's bill titled the 'Right to Disconnect Bill, 2025' was introduced in the Lok Sabha.
Objective: The bill aims to protect employees from being forced to respond to official communication (emails, calls) outside of working hours.
Key Proposal: It suggests setting up an Employee Welfare Committee to define the limits of communication and compensation for work done after hours.
Significance: The bill highlights the need for a healthy work-life balance and addresses issues of employee burnout in the modern digital age.

👤 Personalities (appointments, births, deaths)

🔷 Former Mizoram Governor Swaraj Kaushal Passes Away

Veteran politician and lawyer Swaraj Kaushal passed away.
Key Roles: He served as the Governor of Mizoram (1990–1993) and was a Rajya Sabha MP from 1998 to 2004.
Historical Significance: He played a pivotal role in the negotiation and signing of the Mizoram Peace Accord (1986), which brought an end to insurgency in the state.

📌 December 6, 2025 General Knowledge

Mahaparinirvan Diwas: Observed on December 6 to mark the death anniversary (1956) of Dr. B. R. Ambedkar, the Chief Architect of the Indian Constitution.
India’s First Law Minister: Dr. B. R. Ambedkar was the first Law Minister of independent India and was awarded the Bharat Ratna posthumously in 1990.
1907 (H. N. Bahuguna): Birth anniversary of Hemwati Nandan Bahuguna, a freedom fighter and veteran politician who served as the Chief Minister of Uttar Pradesh.
1917 (Finland): Finland declared its independence from Russia on this day.
1992 (Babri Masjid): The Babri Masjid structure in Ayodhya, Uttar Pradesh, was demolished on this date.