Current Affairs — 12 November 2026

Cabinet approves ₹62,370 crore fertiliser subsidy for Rabi 2026-27

• The Union Cabinet approved Nutrient-Based Subsidy (NBS) rates for phosphatic and potassic (P&K) fertilisers for Rabi 2026-27 (October 2026–March 2027).
• Outlay: ₹62,370 crore, about ₹24,418 crore (approx 64%) more than last Rabi, mainly because global fertiliser and gas prices rose.
• Total fertiliser subsidy for FY27 may go well above the ₹1.71 lakh crore Budget estimate (as reported).

Revise: Schemes

Critical minerals: ₹2,814 crore scheme for lithium and nickel processing

• The Cabinet approved a CAPEX Support Scheme to Promote Critical Mineral Processing with an outlay of ₹2,814 crore (FY27–FY31).
• It gives a 30% capital subsidy to set up lithium and nickel processing plants: target about 60 kt of lithium and 100 kt of nickel processing capacity by 2030.
• Expected private investment: about ₹10,000 crore (approx).

Patna becomes Bihar’s first city to raise municipal bonds

• Patna Municipal Corporation raised about ₹200 crore through municipal bonds on the NSE Electronic Bidding Platform (30 October 2026).
• Coupon: 9.20% a year; tenure: 10 years; money for 18 civic projects.

Cabinet extends Credit Guarantee Fund for Micro Units till March 2031

• The CGFMU has been extended to March 2031 with a corpus of ₹5,000 crore, to guarantee about ₹12.6 lakh crore of MUDRA loans.
• It is run by NCGTC (National Credit Guarantee Trustee Company).

Revise: Schemes

RBI issues cyber resilience rules for non-bank payment operators

• RBI issued Master Directions on cyber resilience and digital payment security for non-bank Payment System Operators (5 November 2026).
• Cyber incidents must be reported to RBI and CERT-In within 6 hours.
• Large and medium PSOs must comply at once; small PSOs by 1 April 2028.

RBI consolidates Domestic Money Transfer rules

• RBI merged its domestic money transfer (DMT) rules into one direction without changing limits.
• Cash-in through BCs, ATMs, etc.: up to ₹5,000 per transaction and ₹25,000 a month per sender.
• Walk-in customers can send up to ₹50,000 per transaction by NEFT at a branch.

IRDAI sets up working groups for risk-based capital

• IRDAI formed two working groups (life and non-life) to build a risk-based capital (RBC) framework, aligned with Ind AS.
• RBC will replace the current factor-based solvency rules.

Cabinet approves ₹3,230 crore Yuge Yugeen Bharat National Museum

• The CCEA approved the Yuge Yugeen Bharat National Museum in the North and South Blocks, New Delhi, at ₹3,230 crore.
• Built-up area: about 1.78 lakh sq m; to be built in phases till 2030-31. It is described as having the world’s largest museum display area (as reported).

Visa categories cut from 13 to 9

• The Home Ministry reduced visa categories from 13 to 9 and shortened forms by up to 70% (as reported).
• The Tourist Visa is now the Visitor Visa; a new Production Investment Business Visa was added for foreign technical staff.

19th Pravasi Bharatiya Divas to be held in Kolkata

• The 19th Pravasi Bharatiya Divas Convention will be held in Kolkata from 7 to 9 January 2027.

ISRO tests cryogenic engine for GSLV-F19 (NavIC)

• ISRO completed a 200-second flight acceptance test of the cryogenic engine at the ISRO Propulsion Complex, Mahendragiri (Tamil Nadu).
• GSLV-F19 (planned for 2027) will launch NVS-04, a second-generation NavIC satellite.

Revise: ISRO missions

₹499 crore contract to refit INS Betwa

• The Defence Ministry signed a ₹498.58 crore contract with Cochin Shipyard to refit and re-power INS Betwa.
• Its steam propulsion will be replaced with diesel engines.

Revise: Defence

Niraj Kumar wins bronze and an Olympic quota at ISSF World Championships

• Niraj Kumar won bronze in the men’s 50m rifle three positions at the ISSF World Championships in Doha, scoring 346.5 in the final.
• He also earned a quota place for the 2028 Los Angeles Olympics.

Revise: Sports

Sitar maestro Pandit Manilal Nag passes away

• Pandit Manilal Nag of the Bishnupur gharana died in Kolkata on 9 November 2026, aged 87.
• He received the Padma Shri (2020) and the Sangeet Natak Akademi Award (2001).

Revise: Art & culture