The Supreme Court (SC) ruled that capital gains arising out of Mauritius-based Tiger Global International’s stake sale in Flipkart in 2018 is taxable by Indian authorities.

• This will stop benefit claims based solely on Tax Residency Certificates (TRCs).

What is a Tax Residency Certificate (TRC)?

• It is an official document issued by the tax authorities in a country to certify that an individual or entity is a tax resident of that country for a specific financial year.
• It is relevant for Resident Indians, NRIs, and businesses engaged in cross-border transactions.
• It is essential for claiming benefits under Double Taxation Avoidance Agreements (DTAA).

• DTAA is an agreement signed between two countries to prevent individuals or businesses from being subject to double taxation on their income.

India Meteorological Department celebrates 151st Foundation Day with deployment of 200 Automatic Weather Stations across 4 major metropolitan cities. 

• This is in line with Mission Mausam.

India Meteorological Department (IMD)

• It is the National Meteorological Service of India and the principal government agency in all matters relating to meteorology and allied subjects. 
• Genesis: 1875
• Ministry: Ministry of Earth Sciences
• Headquarters: New Delhi
• Mandate: Forecast meteorological information and warns against severe weather phenomena.

Mission Mausam

• Multi-faceted initiative to boost India's weather and climate-related science, research, and services.
• Implementation: IMD, Indian Institute of Tropical Meteorology (Pune) and National Centre for Medium-Range Weather Forecasting (Noida).

Securities and Exchange Board of India (SEBI) has given in-principle approval to the settlement applications of the National Stock Exchange (NSE) in co-location and dark fibre matters.

Co-location or Proximity Hosting

• It involves setting up a broker's trading servers within the premises of the stock exchange's data centre for a fee. 
• Advantage: Reduces physical distance, preferential access to price feeds and market data, quicker execution of trades leading to significant profits.

Dark Fibres

• Refer to unused or passive optical fibre cables that are laid but not yet active or shared on public networks.
• In financial markets, these can be used to convey data between two points at higher speed. 

The Presidents of the European Union (EU) Council and the EU Commission to be Chief Guests at India’s 77th Republic Day.

EU Council

• Established: 1958 (as Council of the European Economic Community)
• Role: Voice of EU member governments, adopting EU laws and coordinating EU policies.
• Members: Government ministers from each EU country, according to the policy area to be discussed.
• Presidency: Each EU country holds the presidency on a 6-month rotating basis, currently held by Cyprus (Jan 2026).
• Location: Brussels (Belgium)

EU Commission

• Established: 1958
• Role: Promotes the general interest of EU by proposing and enforcing legislation and implementing policies and the EU budget.
• Members: Commissioners, 1 from each EU country
• Location: Brussels (Belgium)

Government e-Marketplace (GeM) marked 7 years of Womaniya Initiative.

• GeM was launched in 2016 to promote transparent, inclusive and efficient public procurement. 

About Womaniya Initiative

• Flagship programme of GeM to enhance participation of women entrepreneurs and SHGs in government procurement.
• Provides a direct, transparent and fully digital platform, eliminating intermediaries and reducing entry barriers.
• Key Achievements: More than two lakh women-led MSEs registered on GeM portal securing public procurement orders exceeding ₹80,000 crore, accounting for 4.7% of GeM’s total order value (as on 14^th January, 2026). 

Monthly Bulletin for December, 2025 of PLFS showed upward trend in LFPR for persons aged 15 years and above. 

• PLFS, conducted by National Statistics Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI), presents estimates of key labour market indicators:
  • Labour Force Participation Rate (LFPR), Worker Population Ratio (WPR); Unemployment Rate (UR) at the all-India level following Current Weekly Status (CWS) approach.

Key Terms

• LFPR: Percentage of persons in labour force (working/seeking/available for work) in population.
• WPR: Percentage of employed persons. 
• UR: Percentage of persons unemployed among persons in labour force.
• CWS: Activity status based on reference period of last 7 days preceding survey date. 

Researchers from Birbal Sahni Institute of Palaeosciences, reconstructed  climate records from peninsular India through sediment analysis of Kondagai Inland lake. 

• Located in Tamil Nadu’s Sivaganga district, the lake lies close to Keeladi. 

About Keeladi

• Located about 12 km southeast of Madurai, it is famous for unearthing evidence of a sophisticated urban civilization from Sangam period.
• Bound by river Vaigai in North. 

Key Findings of the Study

• Identified three major climatic phases over Late Holocene having direct links to monsoon variability, lake hydrology and human activity in the region.
• Findings could help improve weather forecasting; disaster mapping; wetland and lake restoration efforts, etc.