Current Affairs Quiz 5th January 2026 Quiz

Exp. India Ranks 3rd in Rare Earth Reserves but Lags in Global Production Due to Mining and Processing Bottlenecks

India has the world’s 3rd-largest rare earth reserves at about 6.9 million tonnes of rare earth oxide (REO), behind China (44 million tonnes) and Brazil (21 million tonnes), accounting for nearly 6–7% of global reserves.

Despite abundant reserves, India’s production is very low—only 2,900 tonnes in 2024, ranking 7th globally, and contributing less than 1% of global rare earth output, far behind China’s 270,000 tonnes.

Structural and regulatory bottlenecks hinder mining: most reserves lie in monazite-rich coastal sands containing radioactive thorium, making extraction complex and subject to strict regulations; mining was long dominated by IREL, with rare earths treated as by-products.

Lack of processing and refining capacity is a major constraint: China controls about 90% of global refining capacity and dominates heavy rare earth processing, while India has minimal refining infrastructure, limiting its role in the global rare earth value chain.a

Exp. Usman Khawaja Announces Retirement After Final Ashes Test at Sydney Cricket Ground

Usman Khawaja has announced his retirement from international cricket after the fifth and final Ashes Test against England at the Sydney Cricket Ground (SCG), which will be his 88th and last Test match, at the same venue where his first-class career began.

Debuting in 2011 at the age of 24, Khawaja enjoyed a 15-year-long Test career, scoring over 6,000 Test runs; his international journey began after an injury to then captain Ricky Ponting opened the door for his debut.

Born in Pakistan and raised in Australia, Khawaja created history as Australia’s first Pakistan-born and first Muslim cricketer, and was later honoured with the ICC Test Cricketer of the Year (2023) and Shane Warne Test Cricketer of the Year awards for his outstanding performances.

Recently Retired Players

• Doug Bracewell (New Zealand) – all forms of international cricket
• Mohit Sharma (India) – All Forms of Cricket
• Kane Williamson (New Zealand) – T20 Internationals
• Rohan Bopanna (India) – Professional Tennis
• Chris Woakes (England) – International Cricket

Exp. Air Marshal Nagesh Kapoor Takes Charge as Vice Chief of Air Staff

Air Marshal Nagesh Kapoor assumed charge as the Vice Chief of the Air Staff on January 1, 2026, succeeding Air Marshal Narmdeshwar Tiwari, who retired after 40 years of distinguished service to the nation.

An alumnus of NDA, Defence Services Staff College and National Defence College, Air Marshal Kapoor is an accomplished fighter pilot with over 3,400 flying hours on MiG-21 and MiG-29 aircraft.

He has held several key command, operational and instructional appointments, including Air Officer Commanding-in-Chief of Training Command and South Western Air Command, and is a recipient of multiple gallantry and distinguished service awards.

In another key appointment, Lt. Gen. Harpal Singh assumed charge as the 29th Director General Border Roads (DG BRO); commissioned into the Corps of Engineers in 1991, he brings over three decades of experience in strengthening strategic border infrastructure and connectivity through the BRO (raised in 1960).

Exp. Karthikeyan Manickam Appointed Chairman of ESAF Small Finance Bank

ESAF Small Finance Bank has appointed Karthikeyan Manickam as its new Chairman, aiming to strengthen leadership with his decades of experience in banking, risk management, and regulatory compliance.

A former Executive Director of Bank of India, Manickam will provide strategic guidance and independent oversight to the board, with expertise in banking operations, credit monitoring, risk management, regulatory compliance, and human resource management.

About ESAF Small Finance Bank

• Founded- 10 March 2017
• Founders- Paul Thomas, Mereena Paul, Jacob Samuel
• Headquarters– Thrissur, Kerala
• Chairman – P Karthikeyan Manickam

Exp. India Extends PLI Scheme for Textiles to March 2026 to Boost MMF and Technical Textile Production

India extends PLI Scheme textile application deadline to March 31, 2026, following strong response from textile companies across priority segments like MMF Apparel, MMF Fabrics, and Technical Textiles.

As of September 9, 2025, 91 companies have been selected under the scheme, with investments of ₹7,731 crore, exports of ₹733 crore, turnover of ₹7,290 crore, and creation of around 30,838 jobs.

The PLI Scheme for textiles, approved in September 2021 with a budget of ₹10,683 crore over five years, aims to boost production of MMF apparel, MMF fabrics, and technical textiles, strengthening India’s textile sector.

Exp. Punjab to Launch ‘Mukh Mantri Sehat Yojna’ on January 15

Punjab to launch ‘Mukh Mantri Sehat Yojna’ on January 15, 2026, offering free cashless medical treatment up to ₹10 lakh per family for all 65 lakh families in the State.

Any resident of Punjab with a valid Aadhaar card and voter ID can avail the benefits; the scheme aims to cover 100% of the state’s population.

Over 9,000 camps will be conducted for issuing scheme cards; after enrolment, beneficiaries will be eligible for free treatment covering around 2,200 medical procedures.

The scheme provides cashless and paperless treatment, including hospitalisation, surgeries, ICU care, diagnostics, medicines, and pre- & post-hospitalisation treatments under approved packages.

About Punjab

• Capital – Chandigarh
• Chief Minister – Bhagwant Mann
• Governor – Gulab Chand Kataria

Exp. Assam Becomes First State to Constitute 8th State Pay Commission Ahead of 7th Pay Commission Expiry

Assam becomes the first Indian state to constitute its 8th State Pay Commission, taking proactive action ahead of the 7th Pay Commission’s expiry on January 1, 2026, signalling early focus on salary and pension revisions for state employees.

Chief Minister Himanta Biswa Sarma announced the formation, appointing former chief secretary Subhas Das as the head of the new pay commission, positioning Assam ahead of other states and even the Union Government’s 8th Pay Commission.

To revise salaries, allowances, and pensions for government employees and pensioners, replacing the 7th Pay Commission framework, with the actual implementation expected after detailed consultations, financial assessments, and approvals.

Early constitution may lead to faster clarity and implementation of revised pay, potentially giving Assam’s workforce an advantage in the upcoming pay revision cycle, with recommendations expected in about 18 months and rollout likely in late 2026 or early 2027.

About Assam

• Formation – 26 January 1950
• Capital – Dispur
• Chief Minister –Himanta Biswa Sarma
• Governor – Lakshman Prasad Acharya

Exp. NHAI-Backed Raajmarg Infra InvIT Rated AAA (Stable) by CARE Ratings, Signaling Strong Creditworthiness

Raajmarg Infra InvIT, backed by NHAI, receives a AAA (Stable) rating from CARE Ratings, reflecting strong credit quality and investor confidence in the infrastructure investment trust.

The rating underscores the InvIT’s robust revenue model, largely supported by toll collections from national highways and long-term contracts with the National Highways Authority of India (NHAI).

AAA (Stable) rating indicates minimal credit risk, positioning Raajmarg Infra InvIT as a highly secure investment option for investors seeking stable returns in the infrastructure sector.

The recognition is expected to boost investor interest and enhance the InvIT’s ability to raise funds for future highway projects, supporting India’s broader infrastructure development goals.

Exp. Union Government Launches Integrated E-Bill Platform for ₹2 Lakh Crore Fertiliser Subsidy

Union Government has launched an integrated e-bill platform to digitally process fertiliser subsidies of nearly ₹2 lakh crore annually, replacing manual and paper-based systems.

Inaugurated by Union Fertilisers Minister J.P. Nadda, the platform enables end-to-end online submission, processing and approval of fertiliser subsidy claims, reducing delays and bottlenecks.

The system integrates the Integrated Financial Management System (IFMS) of the Department of Fertilisers with the Public Financial Management System (PFMS) under the Ministry of Finance, strengthening public financial management.

Key features include real-time bill tracking, tamper-proof digital audit trails, built-in validation checks and faster FIFO-based payments, improving transparency, accountability and ease of doing business for fertiliser companies.

Exp. ADB Approves ₹4,100 Crore Loan in Principle for Phase-I of Telangana’s Musi River Development Project

The Asian Development Bank (ADB) has agreed to provide a ₹4,100 crore ($500 million) loan to the Telangana Government for parts of Phase I of the Musi River Development Project

The Musi River project is divided into five zones, with the Detailed Project Report (DPR) for Zone I currently under preparation.

Out of the 55 km stretch in Zone-I, 21 km in the first phase is being executed by the Musi Riverfront Development Corporation Ltd. (MRDCL), while the state has also sought ₹3,188 crore from the Ministry of Jal Shakti under the National River Conservation Plan.

Exp. UN General Assembly Approves $3.45 Billion Regular Budget for 2026

The UN General Assembly has approved a $3.45 billion regular budget for the United Nations for 2026, authorising funding for core organisational activities including peace, security, sustainable development and human rights.

The budget was adopted after weeks of intensive negotiations by the 193 member states, reflecting consensus through the Assembly’s main budgetary body, the Fifth Committee.

The approved amount is about 7 % lower than the 2025 regular budget and is slightly above the Secretary-General’s original proposal, highlighting financial constraints and reform priorities under the UN80 initiative.

India’s share of the United Nation’s regular budget is 1.016 per cent, calculated based on factors such as gross national income, population and economic capacity. The United States remains the largest United Nation contributor at 22 per cent, followed by China at 20 per cent.

It finances the UN’s core administrative and operational functions for the calendar year 2026, separate from peacekeeping and specialised agency budgets, and underscores ongoing efforts to align resources with mandates amid global fiscal challenges.

About United Nations (UN)

• Founded – 24 October 1945
• Headquarters – New York, US
• Official languages – Arabic, Chinese, English, French, Russian & Spanish
• Membership – 193 members (193^rd – South Sudan)
• 1st Secretary General – Trygve Halvdan Lie (Norway)
• 9th Secretary‑General – António Guterres (Portugal)
• United Nations Day is celebrated on October 24 every year

Exp. Bulgaria Officially Joins Eurozone, Adopts Euro as National Currency

Bulgaria officially joined the Eurozone on 1 January 2026, adopting the euro as its official currency, replacing the Bulgarian lev after a long transition process.

With this move, Bulgaria becomes the 21st member of the euro area, deepening its economic and monetary integration with the European Union.

The switch to the euro follows approval of required legal acts by the Council of the European Union and fulfilment of convergence criteria set by the European Commission and European Central Bank.

During the transition period, both the lev and the euro will circulate, with dual pricing in stores, and citizens can exchange levs for euros at banks and post offices free of charge until mid-2026.

About Bulgaria

• Capital- Sofia
• Currency – Euro
• Official language- Bulgarian
• President- Rumen Radev

Exp. Turkmenistan Legalises Cryptocurrency Mining and Exchanges Under New Law

Turkmenistan has officially legalised cryptocurrency mining and exchanges, marking a major policy shift in its tightly controlled and gas-dependent economy; the law was signed by President Serdar Berdimuhamedov.

The new legislation brings virtual assets under civil law and introduces a licensing framework for crypto exchanges, to be regulated by the Central Bank of Turkmenistan.

Despite legalisation, cryptocurrencies are not recognised as legal tender, currency, or securities, and cannot be used as a means of payment in the country.

About Turkmenistan

• Capital- Ashgabat
• Currency- Turkmenistani Manat
• Official language- Turkmen
• President- Serdar Berdimuhamedow

Exp. Maharashtra’s First Woman DGP Rashmi Shukla Retires After 37.5 Years of Service

Rashmi Shukla, Maharashtra’s first woman Director General of Police (DGP), retired on 3 January 2026 after 37.5 years of service in the Indian Police Service (IPS).

She was honoured with a Guard of Honour at her farewell ceremony held at Naigaon Police Ground, Bhoiwada, attended by senior police officers.

Senior IPS officer Sadanand Date, a 26/11 hero and former DG of NIA, has been appointed as the new Maharashtra DGP.

Exp. India Loses 166 Tigers in 2025, Madhya Pradesh Records Highest Deaths

India lost 166 tigers in 2025, forty more than 2024, according to the National Tiger Conservation Authority (NTCA), highlighting increasing threats to the world’s largest tiger population.

Madhya Pradesh accounted for the highest number of tiger deaths (55), followed by Maharashtra (38), Kerala (13), and Assam (12); 31 of the deceased tigers were cubs.

Experts cite territorial conflicts due to space crunch as a major reason for tiger fatalities, reflecting pressures on habitats and ecosystem imbalances.

The year’s first reported death occurred in Bramhapuri forest, Maharashtra (Jan 2), while the last was in North Sagar, Madhya Pradesh (Dec 28), with intermediate deaths including Pench Tiger Reserve, MP.