News In Short 11-08-2026

RBI’s New Loan Recovery Rules

Syllabus: GS3/Economy 

In News

• The Reserve Bank of India (RBI) has issued a comprehensive set of rules governing how commercial banks recover unpaid loans, significantly revising the conduct expected from banks and outsourced recovery agents.

About RBI’s New Loan Recovery Rules

• It is designed to regulate loan recovery practices and shield borrowers from harassment, while allowing banks to recover genuine dues.
  • It will start on January 1, 2027.
• It also introduces India’s first detailed regulatory framework for technology-based restrictions on mobile phones financed through bank loans.

Provisions 

• No device locking: Banks cannot remotely lock or restrict borrowers’ mobile phones, tablets or laptops to recover dues, unless the loan was specifically taken to finance that device.
• No harassment: Recovery agents shall not abuse, threaten, intimidate, publicly shame or personally attack borrowers.
• Privacy Protection: Banks/recovery agents cannot use a borrower’s contacts, photos, messages, call records or location data for recovery.
• Data sharing is limited to recovery agents or employees to the degree necessary for debt recovery.
• EMIs and unpaid debt and interest not waived by rules; Borrowers still accountable. 
• Defaults still affect legal and credit score implications..

Goals 

• The objective is to make the debt recovery procedure fair, transparent and regulated, and not through harassment, threats or abuse of technology and personal data.

Source:IE

10 Years of Government e-Marketplace

Syllabus: GS2/Governance

Context

• The Government e Marketplace (GeM) completed ten years of operations on 9 August 2026.

Government e-Marketplace

• GeM is a one stop portal to facilitate online procurement of common use Goods & Services required by various Government Departments / Organizations / PSUs. 
• It was launched in 2016, and is operated by the GeM SPV (Special Purpose Vehicle), a 100% government-owned company under the Ministry of Commerce and Industry.
• The purchases through GeM by Government users have been authorized and made mandatory by the Ministry of Finance in 2017.
• Core Principles of GeM:

Performance of GeM

• The platform has facilitated a cumulative Gross Merchandise Value (GMV) of over ₹20 lakh crore through more than 3.78 crore orders.
  • The platform took more than eight years to achieve its first ₹10 lakh crore in cumulative GMV, the next ₹10 lakh crore milestone was reached in less than two years.
• Participation: The number of profile-completed sellers has increased from 3,339 to 25.45 lakh, while primary buyer organisations have grown from 1,707 to 1.37 lakh. 
• GeM now digitises the entire public procurement lifecycle and deploys Artificial Intelligence (AI) and Machine Learning (ML) tools to identify suspected cartelisation, collusion and order splitting. 

Source: PIB

National Youth Parliament Scheme Web Portal

Syllabus: GS2/Governance

Context

• The Ministry of Parliamentary Affairs has launched an upgraded version of the National Youth Parliament Scheme web portal, known as NYPS 2.0.

About

• The National Youth Parliament Scheme (NYPS) is an initiative of the Ministry of Parliamentary Affairs.
• It is aimed at promoting democratic values, parliamentary practices, and constitutional awareness among young people. 
• Unlike the previous version, which was limited to students of recognized institutions only, NYPS 2.0 is open to all educational institutions, groups and citizens across the country.
• Web Portal: The Ministry of Parliamentary Affairs launched the web portal of the NYPS in 2019.
  • Aim: To expand the outreach of the Youth Parliament Programme of the Ministry to all the recognized educational institutions of the country.
  • NYPS 2.0 has been introduced so that all the citizens of the country can participate on the portal through: Institution Participation; Group Participation and Individual Participation. 

Source: PIB

Modified Mix Seal Surfacing Plus (MSS+)

Syllabus: GS3/Science and Technology/Environment 

In News

• CSIR-Central Road Research Institute (CSIR-CRRI) showcased its indigenous Modified Mix Seal Surfacing Plus (MSS+) Technology to the Rajasthan Government, highlighting its potential for sustainable and cost-effective road construction and maintenance.

Modified Mix Seal Surfacing Plus (MSS+)

• It is a low-emission technology for sustainable road construction and maintenance
• It is developed indigenously by the CSIR-Central Road Research Institute (CRRI), New Delhi.
• It offers a cost-effective, durable, and environmentally friendly alternative to conventional hot mix asphalt using a custom bitumen emulsion.
• It eliminates the need for pre-heating of aggregates and binders. This drastically reduces carbon emissions and overall building costs. 

Instances of Usage 

• MSS+ has already been proven successful with excellent field performance on more than 100 kilometres of roads in Uttar Pradesh. 
• It is now being demonstrated to the Government of Rajasthan in Jaipur and is gaining momentum as a critical solution for climate-resilient, sustainable road infrastructure across the country.

Source: PIB

2026 Dirac Medal

Syllabus: Miscellaneous

Context

• Indian physicist Deepak Dhar has been honored with the 2026 Dirac Medal for his remarkable contributions to the realm of statistical mechanics.
  • Dhar shares the award with Bernard Derrida, Marc Mézard and Haim Sompolinsky.

About Dirac Medal

• The Dirac Medal is awarded annually by the International Centre for Theoretical Physics (ICTP) in honour of physicist Paul Dirac. The medalists also receive a prize of US$5,000.
• Instituted in 1985, the award has over the years been associated with several prominent figures in theoretical physics, including Stephen Hawking.
• The Dirac Medal is not awarded to Nobel Laureates, Fields Medallists, or Wolf Foundation Prize winners, although many Dirac Medallists have proceeded to win these prestigious prizes.

Source: ET