Daily Current Affairs (DCA) 17 February, 2026

Daily Current Affairs Quiz
17 February, 2026

International Affairs

1. UNEP FI Impact Centre

Context:

The United Nations Environment Programme Finance Initiative (UNEP FI) has launched the UNEP FI Impact Centre, consolidating its work on SDGs and impact finance into a dedicated global knowledge and implementation hub.

This reflects growing global emphasis on aligning financial systems with sustainability outcomes.

What is UNEP FI?

• A partnership between United Nations Environment Programme (UNEP) and global financial institutions.
• Works to integrate environmental, social and governance (ESG) considerations into financial decision-making.
• Includes banks, insurers, and investors worldwide.

What is the UNEP FI Impact Centre?

A specialised centre of expertise designed to help financial institutions:

✔ Measure their environmental and social impact
✔ Align investments with sustainability goals
✔ Integrate impact management into business operations

It institutionalises UNEP FI’s work on impact finance and SDG alignment.

Core Objective

To transform finance from:

Risk management only → Impact-driven financial system

The centre aims to ensure that financial flows actively support:

• Sustainable development
• Climate goals
• Social inclusion

Key Goals

1. Embed impact management in financial institutions
   • Integrate sustainability into strategy and operations.
2. Align global finance with Sustainable Development Goals (SDGs)
3. Manage environmental and social risks systematically
4. Balance financial returns with societal outcomes

National Affairs

1. PM RAHAT Scheme

Source: News on Air

Context:

The Government of India has launched PM RAHAT to provide cashless emergency medical treatment up to ₹1.5 lakh for road accident victims during the Golden Hour.

It aims to ensure timely life-saving treatment and remove financial barriers to emergency care.

What is PM RAHAT?

A national emergency healthcare scheme that guarantees:

✔ Cashless treatment for road accident victims
✔ Coverage for the first 7 days after accident
✔ Focus on Golden Hour medical intervention

It integrates emergency response, hospital treatment, insurance funding, and digital claim settlement.

Institutional Framework

Ministry of Road Transport and Highways (MoRTH)

• Policy design and oversight
• Accident data integration through eDAR platform

National Health Authority (NHA)

• Claims processing
• Digital transaction management (TMS 2.0)

District Administration

• Oversight and grievance redressal
• District Road Safety Committee monitoring

Objectives

1. Prevent avoidable deaths due to delayed treatment
2. Ensure financial access to emergency healthcare
3. Strengthen trauma care ecosystem
4. Improve coordination between police, hospitals, and insurers
5. Institutionalise structured emergency response

2. Startup India Fund of Funds 2.0 (FoF 2.0)

Source: PIB

Context:

The Union Cabinet has approved Startup India Fund of Funds 2.0 with a ₹10,000 crore corpus to mobilise venture capital for India’s startup ecosystem.

It represents the next phase of India’s startup financing architecture under the Startup India initiative.

What is Startup India Fund of Funds 2.0?

A government-backed fund that invests in Alternative Investment Funds (AIFs), which then invest in startups. It does not directly fund startups, but catalyses private investment through professional fund managers.

Institutional Evolution

Phase	Year	Purpose
FFS 1.0	2016	Build startup funding ecosystem
FoF 2.0	2026	Deepen capital markets and support advanced innovation

FoF 2.0 expands and refines the earlier model.

Objectives

1. Strengthen domestic venture capital ecosystem
2. Support innovation-led entrepreneurship
3. Reduce early-stage funding constraints
4. Promote technology-intensive sectors
5. Expand startup funding beyond metro hubs
6. Mobilise long-term domestic capital

3. Bio-based Chemicals and Enzymes

Source: The Hindu

Context:

India is prioritising bio-based chemicals and enzymes under the BioE3 Policy of the Department of Biotechnology to promote sustainable manufacturing and reduce dependence on petrochemical imports.

What are Bio-based Chemicals?

Industrial chemicals produced from renewable biological feedstocks instead of fossil fuels.

Examples of feedstock:

• Sugarcane
• Corn
• Starch
• Agricultural residues
• Biomass

Production methods:

• Fermentation
• Microbial processing
• Enzymatic conversion

What are Enzymes?

• Biological catalysts (mostly proteins).
• Speed up chemical reactions.
• Widely used in industrial production processes.

Produced through:

• Microbial fermentation
• Purification and formulation

Applications

Chemical Industry

• Organic acids (lactic acid)
• Bio-alcohols
• Solvents

Pharmaceuticals

• Drug synthesis
• Vaccine production

Food Processing

• Brewing
• Baking
• Dairy

Textiles & Detergents

• Fabric treatment
• Stain removal

Clean Technology

• Bioplastics
• Biofuels
• Green manufacturing

4. CBDC-based Public Distribution System (PDS)

Source: PIB

Context:

India’s first Central Bank Digital Currency (CBDC)-based Public Distribution System (PDS) has been launched in Gandhinagar, Gujarat.

It integrates the Digital Rupee into the ration distribution system to improve transparency and efficiency.

What is CBDC-based PDS?

A digitally enabled ration distribution mechanism where Central Bank Digital Currency (CBDC) is used within the Public Distribution System to manage transactions and delivery of subsidised food grains.

It combines:
✔ Welfare delivery
✔ Digital payments
✔ Automated distribution

Institutions Involved

Ministry of Consumer Affairs, Food and Public Distribution

• Nodal ministry for PDS implementation and reform.

Reserve Bank of India (RBI)

• Issues the Digital Rupee (CBDC).

Objectives

1. Eliminate leakages and corruption in PDS
2. Improve transparency in welfare delivery
3. Ensure secure access to subsidised food grains
4. Digitise government service delivery
5. Promote efficient public distribution governance

5. India’s First Underwater Road-cum-Rail Tunnel under Brahmaputra River

Source: Indian Express

Context:

The Cabinet Committee on Economic Affairs (CCEA) has approved India’s first underwater road-cum-rail tunnel beneath the Brahmaputra River in Assam at a cost of ₹18,662 crore.

What is the Project?

A major Greenfield connectivity corridor featuring a long underwater tunnel to improve transport between northern and central Assam.

Project Specifications

• Total project length: 33.7 km
• Underwater tunnel length: 15.79 km
• Four-lane access-controlled corridor
• Connects:
  • Gohpur (NH-15)
  • Numaligarh (NH-715)

About the Brahmaputra River (Mapping Focus)

Origin

• Chemayungdung Glacier near Lake Mapam, Tibet (~5,300 m elevation)

Different Names

• Tibet → Yarlung Tsangpo
• Arunachal Pradesh → Siang / Dihang
• Bangladesh → Jamuna

Countries Flowed Through

China (Tibet) → India → Bangladesh

Indian States

• Arunachal Pradesh
• Assam

Drainage basin includes:
Nagaland, Meghalaya, West Bengal, Sikkim

6. NGT Clears ₹92,000-Crore Great Nicobar Project

Source: TH

Context:

The National Green Tribunal (NGT) has cleared challenges to the environmental clearance (EC) granted to the Great Nicobar Island mega-infrastructure project. The tribunal disposed of petitions but directed authorities to ensure strict compliance with EC conditions.

About the Great Nicobar Project

A large infrastructure development in Great Nicobar Island (Andaman & Nicobar Islands) worth about ₹92,000 crore.

Major Components

• International transshipment port
• Greenfield airport
• Power plant
• Township

About the National Green Tribunal (NGT)

• Established under the National Green Tribunal Act, 2010.
• Specialized body for environmental protection and dispute resolution.
• Ensures speedy disposal of environmental cases.

Banking/Finance

1. RBI Eases Cost and Maturity Rules in New ECB Regime (2026)

Source: BS

Context:

The Reserve Bank of India (RBI) has amended the External Commercial Borrowing (ECB) framework through the Foreign Exchange Management (Borrowing and Lending) (First Amendment) Regulations, 2026.

Objective → rationalise and liberalise the ECB regime to improve access to foreign capital.

What is External Commercial Borrowing (ECB)?

• Loans raised by Indian entities from foreign lenders.
• Typically used for:
  • Infrastructure
  • Capital expenditure
  • Business expansion
• Governed by RBI under FEMA regulations.

Key Objectives of the Revised Framework

• Simplify borrowing rules
• Expand access to global finance
• Improve ease of doing business
• Align borrowing costs with market conditions
• Rationalise maturity and usage norms

Major Changes Introduced

1. Expansion of Eligible Participants

• Broader set of borrowers and recognised lenders allowed.

2. Removal of Borrowing Cost Restrictions

• All-in-cost cap removed.
• Authorised dealer (AD) banks no longer need to verify cost alignment with market conditions.

➡ More flexibility in negotiating loan terms.

3. Rationalisation of Maturity and Borrowing Limits

• Changes in minimum average maturity rules.
• Clarifications on refinancing and outstanding borrowings.

4. End-Use Clarifications

ECB funds may now be used for:

• Acquisition of control
• Purchase of land or immovable property (subject to restrictions)

However:

• On-lending for real estate business is prohibited.

5. On-Lending by RBI-Regulated Entities

• ECB funds can be on-lent to individuals.
• Real estate business remains excluded.

6. Changes Related to Authorised Dealer (AD) Banks

• Requirement to maintain a current account to qualify as designated AD bank removed.

7. Simplified Reporting Requirements

• Streamlined compliance and reporting timelines.

8. Clarifications on Financial Instruments

• Treatment of:
  • Foreign Venture Capital Investors (FVCIs)
  • Convertible instruments
  • Short-term borrowing limits (manufacturing sector)

2. CBDC-Based Public Distribution System (PDS)

Source: PIB

Context:

On 15 February 2026, the Union Home Minister Amit Shah launched India’s first Central Bank Digital Currency (CBDC)-based Public Distribution System (PDS) in Gandhinagar, Gujarat.

It aims to make ration distribution transparent, modern, and leakage-free using the Digital Rupee.

What is CBDC-Based PDS?

A digitised ration distribution system where beneficiaries receive programmable digital coupons (e₹) issued by the Reserve Bank of India and redeem them at Fair Price Shops (FPS) to obtain subsidised food grains.

Institutional Collaboration

• Government of India
• Reserve Bank of India (RBI)
• Government of Gujarat

How the System Works

1. RBI generates programmable CBDC (e₹) in the form of digital coupons.
2. Coupons are credited directly to beneficiaries.
3. Beneficiaries redeem coupons at Fair Price Shops.
4. Foodgrains are issued against digital vouchers.

Purpose

• Ensure transparency in ration distribution
• Reduce leakages and diversion of food grains
• Modernise welfare delivery
• Improve efficiency of PDS
• Address biometric authentication and e-POS failures

Key Features

✔ Programmable Digital Rupee (e₹) for welfare delivery
✔ Direct digital coupon transfer
✔ Redeemable at Fair Price Shops
✔ Reduced dependency on biometric authentication
✔ Improved tracking and monitoring
✔ Transparent subsidy delivery

3. DBS Becomes First in Asia-Pacific to Pilot Visa Intelligent Commerce

Context:

In February 2026, DBS Bank partnered with Visa to pilot Visa Intelligent Commerce (VIC) — enabling AI agents to make payments on behalf of consumers.

DBS becomes the first issuer in Asia-Pacific to test real-world agent-initiated payments.

What is Visa Intelligent Commerce (VIC)?

A payment ecosystem enabling:

✔ AI agents to initiate transactions
✔ Consent-based digital payments
✔ Secure API-based infrastructure

AI can conduct transactions such as:

• Food purchases
• Online shopping
• Travel bookings

4. NPCI Extends “UPI One World” to AI Summit Foreign Visitors

Source: TH

Context:

The National Payments Corporation of India (NPCI) has extended UPI One World wallet services to international visitors attending the India AI Impact Summit 2026 (Feb 16–20, New Delhi).

This is a pilot initiative to facilitate seamless digital payments for foreign travellers.

What is UPI One World?

• A prepaid UPI-based wallet designed for foreign visitors to India.
• Enables real-time digital payments without requiring an Indian bank account.
• Allows Person-to-Merchant (P2M) transactions across UPI-enabled merchants.

Key Features of the Initiative

• Available to visitors from 40+ countries.
• Enables secure and real-time payments via UPI.
• Designed for short-term use during travel.
• Operates through authorised issuing partners in India.

Purpose of the Pilot

• Improve convenience for international visitors.
• Showcase India’s digital payment ecosystem at a global event.
• Promote adoption of UPI for cross-border users.
• Support seamless spending in India without currency exchange hassles.

5. Unemployment in India Rises to 5% in January: Periodic Labour Force Survey (PLFS)

Source: TH

Context:

According to the Periodic Labour Force Survey (PLFS), India’s unemployment rate (UR) among persons aged 15 years and above rose slightly to 5% in January 2026, up from 4.8% in December 2025.

Key Findings of the Survey

1. Marginal Rise in Unemployment

• Overall unemployment increased to 5%.
• Rise observed in both rural and urban areas.

2. Decline in Labour Market Indicators

The survey reported a fall in:

• Labour Force Participation Rate (LFPR): Share of working-age population that is employed or seeking work.
• Worker Population Ratio (WPR): Share of population actually employed.

➡ Decline in both rural and urban regions.

About Periodic Labour Force Survey (PLFS)

• Conducted by the National Statistical Office (NSO).
• Provides data on:
  • Employment
  • Unemployment
  • Labour force participation
• Key objective:
  • Measure labour market indicators in rural and urban areas.

Important Labour Market Indicators

• Unemployment Rate (UR) = Percentage of unemployed persons among labour force.
• Labour Force Participation Rate (LFPR) = Labour force ÷ working-age population.
• Worker Population Ratio (WPR) = Employed persons ÷ total population.

6. NSE Gets SEBI Approval for Natural Gas Futures

Source: TH

Context:

The National Stock Exchange (NSE) has received approval from the Securities and Exchange Board of India (SEBI) to launch Indian Natural Gas futures.

This marks a step toward market-based price discovery for natural gas in India.

Key Features of the Futures Contracts

• Monthly futures contracts.
• At any time, 12 monthly contracts will be available for trading.
• Contract design and launch timeline to be announced later.
• Developed through collaboration between:
  • NSE (derivatives market expertise)
  • Indian Gas Exchange (IGX) (spot trading platform)

What Are Futures Contracts

• Financial contracts to buy or sell an asset at a predetermined price on a future date.
• Used for:
  • Hedging price risk
  • Speculation
  • Price discovery

Common in commodities like oil, metals, and agricultural products.

7. Capital Market Stocks Fall After RBI Tightens Collateral Rules

Source: BS

Context:

Shares of brokerage firms and capital market intermediaries fell after the Reserve Bank of India (RBI) introduced stricter collateral and lending norms for loans to capital market participants.

The move is aimed at reducing leverage and strengthening financial stability, but it raises funding costs for brokers.

Key Regulatory Changes by RBI

1. Full Collateral Requirement

• Loans to capital market intermediaries (CMIs) must be 100% secured.

2. Higher Haircut on Equity Collateral

• Minimum 40% haircut on shares pledged as collateral.
• Reduces the value considered for borrowing.

3. Margin Trading Funding (MTF) Norms

• At least 50% cash collateral required for margin trading funding.

Who Are Capital Market Intermediaries (CMIs)?

Entities involved in securities market operations, such as:

• Stockbrokers
• Clearing members
• Proprietary traders
• Market makers

8. SEBI’s New ETF Proposals

Source: Mint

Context:

The Securities and Exchange Board of India (SEBI) has proposed reforms for Exchange Traded Funds (ETFs) to improve pricing accuracy and better manage market volatility.

A consultation paper is open for public comments until 6 March.

What Are ETFs?

• Investment funds traded on stock exchanges like shares.
• Track an index, commodity, or asset basket.
• Value based on Net Asset Value (NAV) of underlying assets.

NAV = Total asset value – expenses ÷ number of units.

Key Proposed Changes

1. Change in Base Price Calculation (Major Reform)

Current system:

• Uses T-2 NAV (two trading days old).

Proposed system:

• Use T-1 data (previous trading day).

Possible reference values:

• Closing market price on T-1
• Average iNAV in last 30 minutes of T-1
• Closing NAV of T-1

➡ Reduces pricing lag.

2. Review of Price Bands

Current price movement limits:

• Most ETFs: ±20% per day
• Overnight ETFs: ±5%

SEBI may:

• Reduce or rationalise price bands.
• Align bands with actual volatility.

3. Commodity ETF Reforms (Gold & Silver)

• Consider removing 20% price band.
• Align with derivative market limits.
• Introduce separate pre-open session for gold and silver ETFs.

Reason:

• Global commodity prices move continuously.
• Indian ETFs trade only during domestic market hours.

Agriculture

1. AI in Indian Agriculture & Dairy

Source: Mint

Context:

Farmers in Maharashtra and dairy producers in Gujarat are increasingly using AI-based digital advisory tools to replace or supplement traditional knowledge networks (“village universities”) and limited access to agricultural experts.

Two major examples:

• MahaVISTAAR — crop advisory platform (Maharashtra)
• Amul’s “Sarlaben” AI assistant — dairy advisory (Gujarat)

Structural Problem AI Is Trying to Solve

Decline of Traditional Knowledge Networks

Earlier:

• Joint families and community networks shared farming knowledge.
• Experience-based local learning.

Now:

• Nuclear families
• Time constraints
• Limited extension outreach
• Need for fast, field-level decisions

➡ Farmers rely on quickest advice source.

Model 1 — MahaVISTAAR (Crop Advisory AI)

A state-backed digital platform integrating:

• University research advisories
• ICAR and Krishi Vigyan Kendra knowledge
• Weather alerts
• Pest management
• Market prices
• Scheme information
• Storage and equipment directories

Key Innovation

Source-verified knowledge pipeline

• Information not scraped from the internet.
• Directly drawn from research institutions.

➡ Emphasis on credibility and scientific authority.

Benefits Observed

• Correct dosage advice reduces input cost.
• Faster pest alerts (within 24 hours).
• Centralised decision-support tool.
• Reduced dependence on input dealers’ commercial advice.

Model 2 — Amul’s “Sarlaben” AI (Dairy Advisory)

AI-powered voice assistant for livestock management.

Functions:

• Disease guidance
• Feeding advice
• Hygiene practices
• Treatment suggestions
• Works through phone calls (even for feature phones)

Problem It Addresses

• Veterinary access delays (2–4 hours).
• Small farmers managing few animals.
• High cost of repeated vet visits.

➡ Provides immediate first-level guidance.

Facts To Remember

1. Cabinet Approves ₹1 Lakh Crore UCF and Startup India FoF 2.0

The Union Cabinet chaired by Narendra Modi approved the Urban Challenge Fund (₹1 lakh crore) and Startup India Fund of Funds 2.0 (₹10,000 crore) to boost urban infrastructure financing and the startup ecosystem. UCF will run from FY26 to FY31 with 25% central assistance and major funding from market sources like municipal bonds and PPPs, while FoF 2.0 aims to mobilise venture capital under the Startup India initiative.

2. CCEA Approves ₹18,509 Crore Railway Multitracking Projects

The Cabinet Committee on Economic Affairs approved three multitracking railway projects covering about 389 km across Delhi, Haryana, Maharashtra, and Karnataka, targeted for completion by FY31. Key routes include Delhi–Ambala, Kasara–Manmad, and Ballari–Hosapete to enhance capacity and logistics efficiency.

3. Ministries to Shift from North & South Block to New Buildings

The Union Cabinet approved shifting key ministries from North Block and South Block on Raisina Hill to “Seva Teerth” and “Kartavya Bhavans” in New Delhi. The move aims to modernise administrative infrastructure and improve governance efficiency.

4. ₹2,000 Crore BIRAC–RDI Fund Launched for Biotech and Deep-Tech

Union MoS Dr. Jitendra Singh launched the ₹2,000 crore BIRAC–RDI Fund to support high-risk research in biotechnology, AI, and deep-tech sectors. The fund, part of the national RDI initiative approved in 2025 with ₹1 lakh crore outlay, is open to startups, SMEs, and industry partners with proposals assessed on TRL scale.

5. C-DOT and RRU Sign MoU on Telecom and Cybersecurity

Centre for Development of Telematics signed an MoU with Rashtriya Raksha University to collaborate on telecom and cybersecurity technologies. The partnership will establish an Innovation-cum-Experience Centre focusing on AI/ML, IoT, 5G, quantum technologies, and mission-critical services.

6. India Adds Record 52,537 MW Power Capacity in FY26

The Ministry of Power reported a record addition of 52,537 MW power capacity in the first 10 months of FY26, taking total installed capacity to about 521 GW. Renewable energy contributed over 75% of additions, with India achieving 50% installed capacity from non-fossil sources ahead of its NDC targets.

7. SING Submarine Cable to Connect India, Gulf and Southeast Asia

UAE-based du partnered with Datawave Networks to land the Singapore-India-Gulf (SING) submarine cable system linking UAE, Oman, India, Malaysia, and Singapore. The 16 fibre-pair corridor will support high-capacity, low-latency connectivity for AI, cloud computing, and digital trade, with readiness targeted by 2030.

8. Mia Mottley Re-elected as PM of Barbados

Mia Mottley was re-elected as Prime Minister of Barbados for a third consecutive term after her party won all 30 seats in the 2026 general elections. The Barbados Labour Party secured around 69.83% vote share, marking a decisive electoral mandate.

9. Uday Kotak Appointed Chairman of GIFT City

Industrialist Uday Kotak was appointed Chairman of Gujarat International Finance Tec-City (GIFT City), replacing Hasmukh Adhia. He is the founder of Kotak Mahindra Bank and a leading figure in India’s banking and financial sector.

10. GalaxEye Partners with NSIL for Satellite Imagery Solutions

GalaxEye signed a data reseller agreement with NewSpace India Limited, becoming the first private Indian satellite operator to collaborate with NSIL for Earth observation data resale. Its SyncFused OptoSAR imagery will support agriculture, disaster management, and infrastructure planning.

11. National Women’s Day – 13 February

National Women’s Day is observed on 13 February to mark the birth anniversary of Sarojini Naidu, the ‘Nightingale of India’. The day recognises her role in the freedom movement, women’s rights advocacy, and as the first woman Governor of independent India.

12. International Childhood Cancer Day – 15 February

International Childhood Cancer Day is observed on 15 February to raise awareness about childhood cancer and promote equitable access to treatment. The global campaign (2024–2026) focuses on unveiling challenges, inspiring action, and demonstrating impact in paediatric cancer care.

13. Kerala Approves India’s First Graphene Policy

The Kerala Cabinet approved India’s first comprehensive graphene policy to promote R&D, production, and innovation in graphene-based technologies. The policy includes incentives, dedicated graphene parks, and flagship projects like the Graphene Innovation Centre in Kochi to position Kerala as a global graphene hub.

14. Government Weighs Making NPS Mandatory for Gig Workers

The government is considering making the National Pension System (NPS) mandatory for gig workers and parts of the unorganised workforce as part of a broader goal to expand universal pension coverage.

15. Cash in Circulation at Record High Despite Rise in UPI: SBI Report

According to a State Bank of India (SBI) report, Currency in Circulation (CIC) reached an all-time high of about ₹40 trillion for the fortnight ending January 31, 2026. However, the cash-to-GDP ratio is declining, indicating structural changes in payment behaviour.