Centre Likely to Amend Sarfaesi Act | Antarctic Penguins | Board of Peace for Gaza | Atal Pension Yojana (APY) | C-295 aircraft | Graca Machel to get Indira Gandhi Peace Prize | Israel fully Legalises West Bank Outpost as New Settlement

Centre Likely to Amend Sarfaesi Act

Economy

Context

• The Union government is considering amendments to the SARFAESI Act, 2002 to remove legal ambiguities and strengthen regulatory oversight.

SARFAESI Act, 2002

• Abbreviation – Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest (SARFAESI) Act
• Mandate – It provides a legal mechanism for banks and financial institutions to recover non-performing assets.
• It allows lenders to enforce security interests without court or tribunal intervention.
• The Act applies when the outstanding loan amount exceeds ₹1 lakh.
• Recovery can be carried out by taking possession of secured assets of borrowers or guarantors.

Antarctic Penguins

Geography & Environment

In News

• A decade-long study in Antarctica has found that penguins are shifting their breeding seasons earlier, likely due to climate change.

Penguins

• Penguins are flightless birds that are highly adapted for the marine environment.
• They are excellent swimmers and can dive to great depths.
• They play a key role in Antarctic food chains, including bringing nutrients from deep water up to the surface, which is vital to algae being able to complete their photosynthesis.
• They live primarily in the Southern Hemisphere.

Major species and IUCN Red List status

1. Emperor Penguin(Aptenodytes forsteri) is listed as Near Threatened
2. Royal Penguin(Eudyptes schlegeli )is listed as Least Concern
3. Adelie Penguin(Pygoscelis adeliae) listed as Least Concern
4. Humboldt Penguin(Spheniscus humboldti)  is listed as Vulnerable
5. Magellanic Penguin(Spheniscus magellanicus) is listed as Least Concern
6. Fiordland Penguin(Eudyptes pachyrhynchus) is listed as Near Threatened
7. Gentoo Penguin(Pygoscelis papua)is listed as Least Concern.

Board of Peace for Gaza

International

In News

• The government is considering its response to US President Donald Trump’s invitation to join the proposed Gaza Peace Board

Board of Peace

• It is an international body chaired by US President Donald Trump, created to oversee the October 2025 ceasefire in the Israel-Hamas war and manage Gaza’s post-war transition.
• The initiative was proposed in October 2025 and was endorsed the following month by the United Nations Security Council.

Members

• Around 35 global leaders have agreed to join the proposed Board of Peace, out of about 50 invited.
• Participants include key Middle Eastern allies such as Israel, Saudi Arabia, the UAE, Bahrain, Jordan, Qatar and Egypt, along with NATO members Turkey and Hungary. Several other countries across Asia, Africa, Europe and Latin America—including Pakistan, Indonesia, Vietnam, Morocco, Armenia and Azerbaijan—have also joined.
• Membership terms would run for three years, with the option of renewal.
• Countries seeking to extend their participation beyond the initial term may be required to contribute $1 billion, while short-term participation would not involve any financial commitment.

Mandate of Board

• The Board will supervise a transitional Palestinian technocratic administration in the Gaza Strip, known as the National Committee for the Administration of Gaza (NCAG).
• The Board’s mandate also includes efforts to disarm Hamas and oversee the deployment of an International Stabilization Force (ISF), a multinational peacekeeping mission tasked with maintaining security and training a new Palestinian police force.

Atal Pension Yojana (APY)

Government schemes

Context

• The Union Cabinet chaired by the Prime Minister approved the continuation of Atal Pension Yojana (APY) up to FY 2030-31 along with extension of funding support for promotional and developmental activities and gap funding.

Atal Pension Yojana (APY)

• It was launched in 2015
• Objective – to provide old-age income security to workers in the unorganised sector.
• Target Group: Initially available to all citizens of India between 18 and 40 years of age.
• Scheme Features: APY offers a guaranteed minimum pension of Rs.1,000 to Rs.5,000 per month starting at age 60, based on contributions.
• Administering Body: Administered by Pension Fund Regulatory and Development Authority (PFRDA).
• Managed under the National Pension System (NPS)
• Progress: As of January, 2026, over 8.66 crore subscribers have been enrolled, making APY a cornerstone of India’s inclusive social security framework.

C-295 aircraft

Security

In News

• The first ‘Made in India’ C-295 aircraft from the Airbus–Tata Vadodara assembly line is set to roll out before September 2026, highlighting deepening India-Spain defence collaboration.

C295

• It is a versatile, reliable tactical transport aircraft capable of troop/cargo transport, maritime patrol, surveillance, medical evacuation, and firefighting.
• It carries up to 8 tonnes or 70 troops, cruises at 260 knots, and operates from short, unpaved runways.
• It offers 13-hour endurance, excellent maneuverability, and fuel efficiency.
• The Airbus C295 (previously CASA C-295) is a medium-range twin-engine turboprop tactical transport aircraft that was designed and initially manufactured by the Spanish aerospace company CASA, which is now part of the European multinational Airbus Defence and Space division.

Graca Machel to get Indira Gandhi Peace Prize

Syllabus: Miscellaneous

Context

• Mozambican rights activist and humanitarian Graca Machel has been selected for the Indira Gandhi Prize for Peace, Disarmament and Development for 2025, announced by the Indira Gandhi Memorial Trust.
• Machel was chosen for her “path-breaking work” in the fields of education, health and nutrition, economic empowerment and humanitarian action.

Indira Gandhi Peace Prize

• It is an annual award established by the Indira Gandhi Memorial Trust in India.
• The prize is named in honor of the late Prime Minister of India, Indira Gandhi
• It was instituted in 1986.
• Prize money: Recently, the prize money has been increased from rupees 25 lakhs to rupees 1 crore.
• Objective – The award is presented to individuals or organizations that have made significant contributions to peace, the development of new international economic order, and the strengthening of democracy.
• Generally, the award is presented on the occasion of the birth anniversary of Indira Gandhi on November, 19th.

Categories: The award is presented in three categories:

• Peace: Recognizes efforts to promote and maintain international peace and security.
• Disarmament: Acknowledges contributions to the reduction and elimination of weapons of mass destruction.
• Development: Honors work in promoting economic and social development.

Israel fully Legalises West Bank Outpost as New Settlement

International

Context

• Israel has fully legalized the West Bank outpost as a new settlement called Yatziv.

About

• The newly legalized Jewish settlement called Yatziv sits adjacent to the Palestinian town of Beit Sahour in the West Bank.

West Bank

• The West Bank lies to the west of the Jordan River, bordered by Israel to the west, Jordan to the east, and Jerusalem to the south-west.
• Major cities include Ramallah (administrative capital of the Palestinian Authority), Hebron, Nablus, Jenin, and Bethlehem.

West Bank

• 1948: After the Arab-Israeli War, the West Bank was occupied and later annexed by Jordan (1949–1967).
• 1967: During the Six-Day War, Israel captured the West Bank from Jordan, and it has remained under varying degrees of Israeli control since.
• 1993–1995 Oslo Accords: These agreements created the Palestinian Authority (PA) and divided the West Bank into three areas:
• Area A: Full Palestinian civil and security control.
• Area B: Palestinian civil control and joint Israeli–Palestinian security.
• Area C: Full Israeli control (about 60% of the West Bank).
• The Palestinians seek the West Bank, captured by Israel in 1967, as part of a future state.