Current Affairs - January 20, 2026 Current Affairs

Zambia is set to benefit from IREDA Global Green Energy Finance IFSC’s first international green loan, amounting to $22.5 million. The funding will support the development of a 100 MW photovoltaic solar project in the Serenje District, contributing to sustainable energy generation in the country. This initiative expands India’s green financing footprint internationally and reflects a strategic move to promote renewable energy and climate-friendly projects in emerging markets. By facilitating such investments, India strengthens bilateral ties while supporting global efforts toward clean energy transition and sustainable infrastructure development.

Maharashtra has approved the Bembla River Irrigation Project in Yavatmal district with a budget of ₹4,775 crore to bring 52,423 hectares under assured irrigation. The initiative aims to improve crop productivity, support crop diversification, enhance farmer incomes, and reduce agrarian distress in drought-prone areas of eastern Maharashtra. Alongside irrigation reforms, the state government also approved the creation of MAHIMA, an agency focused on providing overseas employment opportunities for skilled youth. Together, these measures are expected to boost rural development, strengthen agricultural infrastructure, and enhance livelihood opportunities in Maharashtra.

Maruti Suzuki is investing ₹35,000 crore to establish a mega car manufacturing plant in Gujarat, specifically in Khoraj near Gandhinagar. The plant will have an annual capacity of 10 lakh vehicles, with production starting in FY29 across four units, each producing 2.5 lakh cars per year. This initiative is expected to generate over 12,000 direct jobs and significant indirect employment, further strengthening Gujarat’s position as a key automobile hub. The investment aligns with the Make in India vision, supporting industrial growth, technological advancement, and regional economic development in Gujarat.

The International Monetary Fund (IMF) has revised India’s 2025 economic growth forecast upward to 7.3%, reflecting stronger-than-expected performance in the third and fourth quarters of 2025. This revision indicates continued robust momentum in India’s economy, supported by technology-led investment and other structural factors. While growth is expected to moderate to 6.4% in 2026–27, India remains a leading contributor among emerging economies. The IMF also noted that inflation is projected to reach target levels in 2025, with global growth remaining steady at 3.3%, highlighting India’s relatively stronger performance in the global context.

Mumbai served as the venue for the joint Hazardous and Noxious Substances response drill conducted by the Indian Coast Guard and the Japan Coast Guard. The exercise was held onboard the pollution response vessel ICGS Samudra Prahari and focused on improving preparedness against chemical spills at sea. It aimed to strengthen operational coordination, interoperability, and emergency response capabilities between the two nations. The drill also reflected the growing maritime cooperation between India and Japan, underlining their shared commitment to environmental protection, maritime safety, and stability in the Indo-Pacific region.

The second nationwide survey for riverine and estuarine dolphins under Project Dolphin commenced in Uttar Pradesh, starting from Bijnor. Led by the Ministry of Environment, Forest and Climate Change, the survey aims to assess the population and habitat health of Indus and Irrawaddy dolphins. Phase 1 focuses on the Ganga (Bijnor–Sagar) and Indus rivers, while Phase 2 will cover the Brahmaputra, Ganga tributaries, Sundarbans, and Odisha. This initiative strengthens India’s efforts in biodiversity conservation, river ecosystem management, and the protection of endangered aquatic species, aligning with national and global wildlife preservation goals.

REC Limited, a Maharatna non-banking financial company, received the SKOCH Silver Award 2025 for 'Corporate Net Zero Transition,' marking its third ESG recognition in 2026. The award highlights REC Limited’s commitment to supporting India’s net-zero and climate transition goals through sustainable financing. As a key financier of power and infrastructure projects, including renewable energy and non-power infrastructure, REC aligns its lending with environmentally responsible practices. This recognition underscores the company’s efforts in promoting sustainable development, facilitating the transition to low-carbon infrastructure, and reinforcing its leadership role in ESG and climate-focused corporate initiatives.

Himachal Pradesh has received approval from the MSME Ministry for the establishment of two new MSME Technology Centres as part of a national expansion initiative. These centres will be set up at Pandoga in Una district and Parwanoo in Solan district, each with an estimated cost of ₹10 crore. The initiative aims to strengthen industrial infrastructure, enhance skill development, and generate employment opportunities in the state. By providing modern technical support, training facilities, and entrepreneurship assistance, the centres are expected to boost manufacturing activity and attract new investments in Himachal Pradesh.

Sandeep Bakhshi has been reappointed as the Managing Director and CEO of ICICI Bank for another two-year term, ensuring leadership continuity at India’s second-largest private sector bank. His new tenure will extend till October 2028, subject to approvals from the Reserve Bank of India, shareholders, and other statutory authorities. Since assuming the role in 2018, he has guided the bank through a challenging period by strengthening risk management, improving asset quality, and enhancing governance standards. The reappointment reflects confidence in his prudent leadership and alignment with regulatory governance norms.

Piramal Finance successfully raised USD 350 million from the International Finance Corporation (IFC) and the Asian Development Bank (ADB), marking its first borrowing from development finance institutions. The 5-year loan under the Sustainable Finance Framework aims to expand lending for affordable housing, MSME credit, and women borrowers in tier-2 and tier-3 cities. Piramal Finance is also pursuing an additional $150 million from other DFIs to reach a total target of $500 million in FY26. This initiative highlights the institution’s focus on promoting inclusive growth and sustainable financial solutions for underserved segments.