Daily Current Affairs- 23rd January 2026

Daily Current Affairs- 23rd January 2026

National

Parakram Diwas 2026: Netaji Subhash Chandra Bose Jayanti

In the News: India observes Parakram Diwas (Day of Valour) to commemorate the 129th birth anniversary of Netaji Subhas Chandra Bose, the visionary leader of the Indian National Army. President Droupadi Murmu paid floral tributes at Rashtrapati Bhavan, while nationwide celebrations honor his "unconquerable spirit" and revolutionary struggle for India's independence.

Key Points:

• Observance Date and Meaning: Parakram Diwas 2026 is observed on Friday, January 23, 2026, marking Netaji's 129th birth anniversary. "Parakram" translates to "Day of Valour," celebrating his courage, strong leadership, and deep patriotism. The date remains fixed annually as it coincides with his birth on January 23, 1897, in Cuttack, Odisha.
• Official Declaration: The Government of India officially announced Parakram Diwas on January 19, 2021, during Netaji's 125th birth anniversary celebrations. Since then, January 23 has been observed annually to honor his role in India's independence movement and inspire citizens through principles of bravery and patriotism.
• About Netaji Subhas Chandra Bose: Born on January 23, 1897, in Cuttack, Odisha, Netaji was a brilliant student who cleared the prestigious Indian Civil Service (ICS) exam in England. He resigned from this position to dedicate himself to India's freedom struggle. He established the Indian National Army (INA), gave the iconic slogan "Give me blood, and I shall give you freedom" and "Delhi Chalo," and formed the Azad Hind government.
• Significance of the Day: Parakram Diwas emphasizes Netaji's courage, command, and selfless service to the nation. It celebrates his establishment of the Azad Hind government and INA, fostering national pride and unity.

Government Expands Carbon Credit Trading Scheme with New GEI Targets

In the News: The Ministry of Environment, Forest and Climate Change notified Greenhouse Gas Emission Intensity (GEI) targets for additional carbon-intensive sectors under the Carbon Credit Trading Scheme (CCTS). This expansion brings 208 new obligated entities into the compliance framework, increasing the total coverage of the Indian Carbon Market (ICM) to 490 obligated entities across India's most emission-intensive industries.

Key Points:

• New Sectors Included: The notification brings Petroleum Refineries, Petrochemicals, Textiles, and Secondary Aluminium under the compliance mechanism of the Indian Carbon Market. These 208 obligated entities across these sectors are now required to meet specified emission intensity reduction targets, marking a significant expansion of India's carbon trading framework.
• Previous Coverage: The Government of India first notified GEI targets in October 2025 for Aluminium, Cement, Chlor-Alkali, and Pulp & Paper sectors, covering 282 obligated entities. With the January 2026 expansion, the total number of obligated entities under ICM compliance has increased to 490, representing India's most emission-intensive industries.
• Understanding GEI Targets: Greenhouse Gas Emission Intensity (GEI) refers to the amount of greenhouse gas emissions produced per unit of output. Instead of absolute emission caps, GEI targets focus on improving efficiency by reducing emissions intensity.
• Carbon Credit Trading Scheme Framework: The CCTS, notified by the Government of India in 2023, provides the overall framework for the Indian Carbon Market. Its objective is to reduce or avoid greenhouse gas emissions from various sectors of the Indian economy by pricing emissions through a carbon credit certificate trading mechanism, aligning industrial growth with India's climate objectives and net-zero pathway.
• Two-Mechanism Structure: The CCTS operates through the Compliance Mechanism and the Offset Mechanism. Under the Compliance Mechanism, emission-intensive industries designated as Obligated Entities must meet assigned GEI targets.

GoI Approves Wage Revision and Pension Revision for PSGICs, NABARD and RBI

In the News: The Central Government has approved comprehensive wage revision and pension revision for employees and pensioners in key financial institutions, including Public Sector General Insurance Companies (PSGICs), NABARD, and Reserve Bank of India (RBI).

Key Points:

• Overall Beneficiaries: The wage and pension revision will benefit approximately 46,322 employees, 23,570 pensioners, and 23,260 family pensioners across PSGICs, NABARD, and RBI.
• PSGIC Wage Revision Details: The wage revision for employees of Public Sector General Insurance Companies is effective from August 1, 2022. The overall increase in wage bill is 12.41%, including a 14% hike on existing Basic Pay and Dearness Allowance (DA), benefiting 43,247 PSGIC employees.
• Enhanced NPS Contribution for PSGICs: A major welfare measure includes the enhancement of National Pension System (NPS) contribution from the earlier 10% to 14% for PSGIC employees who joined after April 1, 2010.
• PSGIC Family Pension Revision: The Government has approved a uniform family pension rate of 30% for PSGICs, effective from the date of publication in the official gazette, benefiting 14,615 out of 15,582 total existing family pensioners. The covered PSGICs include National Insurance Company Ltd., New India Assurance Company Ltd., Oriental Insurance Company Ltd., United India Insurance Company Ltd., General Insurance Corporation of India, and Agricultural Insurance Company Ltd.
• NABARD Pay and Pension Revision: Pay revision for NABARD employees is effective from November 1, 2022, with an increase of approximately 20% for all Group A, B, and C employees, benefiting about 3,800 serving and former employees. The pension revision covers NABARD retirees who were originally recruited by NABARD and retired before November 1, 2017, bringing their basic pension/family pension on par with ex-RBI NABARD retirees.
• RBI Pension Revision: The Government has approved a 10% increase in pension and family pension for RBI retirees, calculated on basic pension plus dearness relief, effective from November 1, 2022. This revision results in an effective increase of basic pension by a factor of 1.43 times, significantly boosting monthly pension payments for 30,769 beneficiaries (22,580 pensioners and 8,189 family pensioners).

Indira Gandhi Peace Prize

In the News: Mozambican rights activist and humanitarian Graca Machel has been selected for the Indira Gandhi Prize for Peace, Disarmament and Development for 2025. Additionally, the 2024 prize was presented to Michelle Bachelet, the first and only woman President of Chile and former UN High Commissioner for Human Rights, by Congress Parliamentary Party chairperson Sonia Gandhi, recognizing her extraordinary contributions to human rights, democracy, and social justice.

Key Points:

• About the Prize: The Indira Gandhi Prize for Peace, Disarmament and Development was instituted in 1986 in memory of former Prime Minister Indira Gandhi by a trust in her name. The prize consists of a monetary award of Rs.10 million rupees along with a citation and is awarded annually by the Indira Gandhi Memorial Trust without any distinction of nationality, race, or religion.
• 2025 Recipient - Graca Machel: Mozambican rights activist and humanitarian Graca Machel has been selected for the Indira Gandhi Prize for 2025, continuing the tradition of honoring individuals who have made significant contributions to peace, human rights, and social development on the global stage.
• 2024 Recipient - Michelle Bachelet's Background: Michelle Bachelet served as a two-term President of Chile (2006-2010 and 2014-2018) and was the first Director of UN Women Agency in 2010 before becoming UN High Commissioner for Human Rights.
• Bachelet's Achievements in Chile: During her presidential terms, Bachelet promoted the rights of all citizens and is credited with significant education and tax reforms. She established the National Institute for Human Rights, the Museum of Memory and Human Rights, and the Ministry of Women and Gender Equality.

As SC allows Basant Panchami prayers and namaz at Bhojshala, recalling the dispute

In the News: The Supreme Court issued directions to allow simultaneous Basant Panchami puja and Friday namaz at the Archaeological Survey of India-protected Bhojshala Temple/Kamal Maula Mosque complex in Madhya Pradesh's Dhar district.

Key Points:

• Supreme Court Directions: The court allowed prayers on a plea by the Hindu Front for Justice (HFJ) on the occasion of Basant Panchami, which heralds the arrival of spring and involves worshipping Saraswati, the goddess of knowledge. The bench directed that a separate exclusive space within the same compound be made available for Muslims to perform namaz between 1 PM and 3 PM, while Hindus would conduct traditional ceremonies throughout the day at a separate designated space, following past practices.
• Existing ASI Arrangement: On April 7, 2003, the ASI established an arrangement under which Hindus perform puja at the Bhojshala premises on Tuesdays, while Muslims offer namaz in the complex on Fridays. The HFJ's May 2, 2022 PIL challenged this ASI order, arguing it restricted daily worship for Hindus and citing that the former rulers of Dhar had installed a Saraswati statue in 1034, which was taken to London in 1857 by the British. The current dispute arose because the 2003 order doesn't address situations where Basant Panchami coincides with Friday prayers.
• Historical Origins of Bhojshala: Located in the center of Dhar city, over 250 km from Bhopal, the complex includes the tomb of Kamal al-Din, a Chishti saint, built adjacent to a spacious hypostyle mosque constructed primarily of reused temple parts. According to a 2012 research paper by Michael Willis published in the Royal Asiatic Society, the Bhojshala or 'Hall of Bhoja' describes the center for Sanskrit studies associated with King Bhoja, the most celebrated ruler of the Paramara dynasty.
• Conflicting Claims and ASI Survey: Hindus consider Bhojshala an 11th-century temple dedicated to Vagdevi (Goddess Saraswati), while Muslims call it Kamal Maula mosque. The HFJ argued that the mosque was constructed during Alauddin Khilji's reign (13th-14th centuries) after destroying ancient Hindu temple structures.
• Evolution of the Bhojshala Narrative: The term "Bhojshala" was coined in 1902 by K K Lele, Superintendent of State Education in the British-era archaeological department in Dhar, to provide Sanskrit terminology for the pillared colonnades. Michael Willis argued that Lele invented this term as the proper Sanskrit references for educational institutions would be "vidyalaya," "vidyapeeth," or "jnanpith." The mosque was referred to in writings by English author John Malcolm (1822) and William Kincaid (1844), though they never identified it as Bhojshala.