Current Affairs - International

The Digital Threat Report 2024 was launched to enhance cybersecurity measures specifically in the BFSI (Banking, Financial Services, and Insurance) sector. India spearheaded this initiative to identify existing security gaps and emerging cyber risks in the financial domain. The report advocates for a unified cybersecurity framework and increased collaboration among BFSI institutions to manage threats effectively. By providing a strategic guide to navigate the growing complexity of cyber threats, the report equips financial institutions with the tools needed to build stronger resilience and secure their digital infrastructure against evolving challenges.

India’s Supreme Court has signed a Memorandum of Understanding (MoU) with Nepal to strengthen judicial cooperation. This partnership focuses on the exchange of information, training, and academic programs aimed at enhancing the efficiency and effectiveness of both judicial systems. Emphasis is placed on leveraging technology to streamline judicial processes and address long-standing issues such as case backlogs. A Joint Working Group will be created to oversee the implementation of collaborative plans, promoting deeper interaction between the two judiciaries. This initiative marks a step forward in regional legal cooperation and capacity building in the justice delivery system.

India has entered into a strategic partnership with Israel to bolster agricultural cooperation. The collaboration emphasizes the use of advanced technologies, efficient water management practices, and innovative solutions to improve agricultural productivity. A key focus is on supporting farmers with small landholdings by enhancing profitability through modern techniques. The partnership also targets food security concerns by jointly working on the development of climate-resilient seeds to ensure higher and more stable crop yields. This cooperation reflects the shared commitment of both nations to sustainable agriculture and the application of science and technology in addressing critical global food challenges.

India has been unanimously elected to the United Nations Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR) for the 2025–2027 term. This selection underscores India’s increasing global recognition in the areas of corporate governance and financial transparency. ISAR, functioning under UNCTAD, is instrumental in shaping international financial and non-financial reporting frameworks, and India’s inclusion reflects the global community’s confidence in its expertise. With this role, India will contribute to advancing uniform accounting practices, promoting transparency, and reinforcing accountability, thereby playing a key role in supporting sustainable global economic development and international investment climates.

India launched the Digital Threat Report 2024 to bolster the cybersecurity framework of its Banking, Financial Services, and Insurance (BFSI) sector. This initiative is a collaborative effort by CERT-In under MeitY, CSIRT-Fin, and cybersecurity firm SISA. Released on April 7, 2025, the report outlines emerging cyber threats, including AI-driven attacks and sector-wide vulnerabilities, while emphasizing the importance of unified defence strategies. High-level participation from government and industry leaders underscores the national priority of digital safety in financial systems. By strengthening risk preparedness and fostering collaboration, India aims to ensure the stability and trust of its financial infrastructure.