Current Affairs 16 January 2026

Indian Oil–BPCL joint venture strikes oil in Abu Dhabi block.

• Indian Oil and BPCL’s joint venture Urja Bharat made two oil discoveries in Abu Dhabi’s Onshore Block 1, boosting India’s overseas upstream push.
• The XN-76 well produced light crude from the Shilaif formation, confirming unconventional oil resources in the concession.
• A second find at XN-79 in the Habshan reservoir will be appraised for economic viability and future development.

World Bank lifts India FY26 growth forecast to 7.2%.

• The World Bank raised India’s FY2025–26 growth estimate to 7.2%, citing strong domestic demand despite global headwinds.
• India’s resilience lifted South Asia growth to 7.1% in 2025, according to the Global Economic Prospects report.
• Growth is seen easing to 6.5% in FY27 before rising to 6.6% in FY28 on services, exports and investment recovery.

RBI recognises FEDAI as forex dealers’ SRO.

• RBI has recognised the Foreign Exchange Dealers’ Association of India as a self-regulatory organisation for all authorised dealers.
• FEDAI was granted SRO status under RBI’s Omnibus framework considering its role in setting conduct rules for forex market participants.
• The central bank has given FEDAI 1 year to align governance norms & expand membership across all authorised dealer categories.

NHAI pilots real-time stray cattle alerts on highways.

• NHAI launched a pilot for real-time stray cattle safety alerts on the Jaipur–Agra and Jaipur–Rewari National Highway corridors.
• Under an MoU with Reliance Jio, commuters will get location-based Flash SMS and voice alerts about high-risk cattle zones.
• Alerts will be sent 10 km in advance to cut accidents, especially in fog, with repeat messages blocked within 30 minutes.

Malaysia Airlines Teams Up with Mumbai Indians for Global Reach.

• Malaysia Airlines became Associate Sponsor and Official Global Airline Partner of Mumbai Indians to boost its presence in India and global markets.
• The partnership launch featured a symbolic release of 100 Wau Bulan kites in Mumbai on Makar Sankranti.
• With access to Mumbai Indians’ 55 million+ fans, Malaysia Airlines aims at extending hospitality and engaging diverse audiences globally.