RBI has issued revised guidelines for Payment Aggregators to bolster consumer protection and combat fraud.

About Payment Aggregators (PAs)

• It is an entity that facilitates aggregation of payments made by customers to merchants through payment channels through merchant’s interface (physical / virtual) for purchase of goods, services or investment products. E.g., Paytm, Google Pay, PayPal, etc.
• It is incorporated as a company under the Companies Act, 2013.
• New framework mandates non-bank PAs to obtain RBI authorisation under the Payment and Settlement Systems Act, 2007.

The Election Commission of India (ECI) revised Rule 49B of the Conduct of Elections Rules, 1961, to enhance EVM Ballot Paper readability.

• It includes featuring of colour photographs of candidate on EVMs starting with the Bihar State Elections.

About Conduct of Elections Rules, 1961

• It is a comprehensive legal framework under Representation of the People Act, 1951, governing the conduct of elections in India. 
• These rules provide 
  • Procedures for polling, voting, and counting processes.
  • Responsibilities ofelection officers, candidates, etc.

Report of the UN-mandated Independent International Commission of Inquiry provided a legal analysis of Israel's conduct in Gaza concerning the Convention on the Prevention and Punishment of the Crime of Genocide (Genocide Convention).

About Genocide Convention

• Defines Genocide as acts committed with the intent to destroy, in whole or in part, a national, ethnic, racial, or religious group.
  • Genocide is a crime that can take place both in time of war as well as in time of peace.
• Membership: Signatories – 41, Parties - 153 States.
  • India has signed the treaty in 1949 and ratified in 1959.
• International Court of Justice (ICJ) adjudicates cases related to the interpretation and application of the convention.

Recently, Prime Minister launched ‘Swasth Nari Sashakt Parivar’ Abhiyan.

About Swasth Nari Sashakt Parivar Abhiyan

• The Abhiyan will organize over one lakh health camps to screen women for anaemia, hypertension, diabetes, and cancer, while supporting immunization and nutrition to reduce maternal and child mortality.
• Ministries: Joint effort of the Ministry of Health & Family Welfare and Ministry of Women & Child Development.
• Technology: SASHAKT portal will track progress and ensures accountability in real time.

Community Role: Anganwadis, Nikshay Mitras, private hospitals, etc. will also participate.

Union Minister for Commerce and Industry and his European Economic Commission’s counterpart decided to start discussion on FTA from November and fast-track effort for an early-harvest FTA with Eurasian Economic Union (EAEU).

• Early Harvest FTAs are precursor to FTA between two trading partners which liberalizes tariffs on certain goods preceding the conclusion of a FTA.

About EAEU

• It is an international organization for regional economic integration established by the Treaty on the Eurasian Economic Union.
• Member states: Armenia, Belarus, Kazakhstan, Kyrgyz Republic, and Russia.
• Objective: To comprehensively upgrade, raise the competitiveness of and cooperation between the national economies, and to promote stable development in order to raise the living standards of the nations of the Member-States.

NHAI tightened contractor qualification norms to address the unauthorized engagement of contractors in hybrid annuity model (HAM).

Hybrid Annuity Model (HAM)

• About: Introduced in 2016, HAM is a public-private partnership (PPP) model used in infrastructure projects, primarily for road construction.
• Key Features:
  • Funding: Government funds 40% during construction in 5 milestone-linked installments and private developer finances 60% via debt and equity.
  • Risk Sharing: Balances risks, with government handling revenue risk and private developer managing financing risk.

The Supreme Court has ruled that a defaulter can claim benefits of One-Time Settlement (OTS) Scheme only if all bank conditions are fulfilled.

About OTS Scheme

• Launched: Guidelines issued in 2005 by the RBI; Implementation left to banks.
• Purpose: Standardized guidelines for settling chronic NPAs in SME (Small & Medium Enterprise) sector across all public sector banks.
• Mechanism: Lump-sum repayment allowed with minimum 25% upfront and rest in instalments within one year.
• Significance: 
  • Helps banks recover dues quickly and clean balance sheets.
  • Offers borrower relief from legal proceedings.

Union Ministry of Corporate Affairs has invited public comments on the establishment of Indian Multidisciplinary Partnership (MDP) firms.

About MDP

• It is a form of partnership that renders multiple services like maintenance of cost records, accounting, auditing, assurance, management etc. under one umbrella.
• Current regulations restrict Indian professionals from different fields working together under one firm.
• Significance: If approved, MDP firms could tap into the $240 billion global market, and strengthen self-reliance in areas like Environmental, Social, and Governance (ESG) advisory and tech services.