Source: TH Why in News? India has revised the Consumer Price Index (CPI) base year to 2024, updating how inflation is measured to better reflect current household spending patterns. What Has Changed? Major Structural Changes Reflects long-term shift in spending from food to services and housing. Understanding CPI vs Inflation State-Level Inflation Insights Highest inflation (Jan 2026) among large States: Reason: higher spending on services like housing, health, education, transport. Why Rajasthan Shows Higher Inflation Importance for Monetary Policy (RBI)
Risk-Based Deposit Insurance Premium for Banks
Source: BS Why in News? India is shifting from a uniform deposit insurance premium to a risk-based premium (RBP) system, where banks pay insurance premiums according to their risk profile.This also sets the stage for a likely increase in deposit insurance cover from ₹5 lakh to possibly ₹15 lakh. What is Deposit Insurance? Key Change: Risk-Based Premium (RBP) Earlier system: New system: Proposed premium structure (per ₹100 deposits): Two-Tier Framework Objectives
NPCI Extends “UPI One World” Wallet & Launches AI Payment Initiatives
Source: ET Why in News? NPCI expanded the “UPI One World” wallet service for foreign delegates from over 40 countries attending the India AI Impact Summit 2026, along with launching AI-driven payment innovations. What is UPI One World Wallet? A special digital payment facility for foreign visitors that allows them to make UPI payments in India without needing: Enables seamless digital payments for international travellers. Key Features Other Major Launches Finance Model for India (FiMI) AI-Powered UPI Pilot (NPCI + Razorpay) Strategic Partnership with Nvidia
Participatory Notes (P-Notes)
Source: ET Why in News? Proposed revisions to the India–France tax treaty may allow India to tax capital gains from equity sales by French investors. This could significantly affect the participatory note (P-note) investment route used by foreign investors. What are Participatory Notes (P-Notes)? Participatory Notes (P-Notes) are offshore derivative instruments issued by SEBI-registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to invest in Indian securities without registering directly with SEBI. They derive their value from underlying Indian assets such as: How Do P-Notes Work? The actual investor remains anonymous to Indian regulators (though disclosure norms have tightened). Why Were P-Notes Popular? At one time (early 2000s), P-notes accounted for over 40% of FPI investments in India. Advantages
Daily Current Affairs (DCA) 21 February, 2026
Daily Current Affairs Quiz21 February, 2026 National Affairs 1. M.A.N.A.V. Vision for Human-Centric Artificial Intelligence Source: PIB Context: About M.A.N.A.V. Vision Objectives Five Pillars of M.A.N.A.V. 2. Gaganyaan Drogue Parachute Successfully Tested Source: News on Air Context: India achieved a major milestone in its human spaceflight programme as the Defence Research and Development Organisation (DRDO) successfully conducted a qualification-level load test of the Drogue Parachute for the Gaganyaan mission. What is the Gaganyaan Drogue Parachute? Developed and Tested By 3. Skill Acquisition and Knowledge Awareness for Livelihood Promotion ( SANKALP Scheme) Source: TH Context: The Public Accounts Committee (PAC) of Parliament has criticised the government for slow and weak implementation of the SANKALP scheme. The committee reviewed a Comptroller and Auditor General (CAG) audit report highlighting delays and financial underutilisation. About SANKALP Scheme 4. National Commission for Scheduled Tribes (NCST) — 23rd Foundation Day Source: PIB Context: The National Commission for Scheduled Tribes (NCST) celebrated its 23rd Foundation Day in New Delhi. The occasion highlighted its role in protecting tribal rights and promoting inclusive development. About National Commission for Scheduled Tribes (NCST) Establishment Composition 5. Bela Gram — India’s First Net-Zero Panchayat Source: TH Why in News? Bela Gram, India’s first net-zero panchayat, was highlighted at Mumbai Climate Week 2026 as a model of grassroots climate action led by local governance. Key Highlights: Measures Taken to Achieve Net Zero How a Village Becomes Net Zero A village can achieve net zero by: 6. Vibrant Villages Programme–II (VVP-II) Source: PIB Context: What is VVP-II? Launch and Duration Background Objectives Key Features Banking/Finance 1. SMS-Less UPI Signup Likely to be Introduced by 2026–27 Source: BS Context: The National Payments Corporation of India (NPCI) is working on a new system that may allow users to sign up for Unified Payments Interface (UPI) without sending SMS for verification. The new system may be implemented within the next 12–18 months, subject to technical feasibility and testing. Present System (Device Binding) Proposed Change Reasons for the Change 2. ICICI Launches Swasthya Pension Scheme Combining Retirement and Health Needs Source: TOI Context: ICICI Prudential Pension Funds Management Company has launched the Swasthya Pension Scheme. The scheme has been introduced under the Pension Fund Regulatory and Development Authority (PFRDA) regulatory sandbox framework. Objective of the Scheme Key Features Regulatory Aspect Agriculture 1. Shalimar Wheat Varieties Developed for Kashmir Source: TH Context: Scientists at Sher-e-Kashmir University of Agricultural Sciences and Technology (SKUAST-K) have developed two new early-maturing wheat varieties to support the rice–wheat cropping system in Kashmir. What is Shalimar Wheat? New Varieties Key Features 2. Salem Sago (Javvarisi) Exported to Canada Source: PIB Context: The Agricultural and Processed Food Products Export Development Authority (APEDA) facilitated the first direct export consignment of GI-tagged Salem Sago from Tamil Nadu to Canada. The export marks a significant milestone for producer-led exports of traditional Indian food products. About Salem Sago (Javvarisi) Origin and Production Geographical Indication (GI) Status Facts To Remember 1. Bengali author Shankar passes away in Kolkata at 92 Veteran Bengali author Mani Shankar Mukhopadhyay, popularly known as Shankar, passed away on Friday at the age of 92. 2. Indian Navy Hosts IFR 2026, MILAN 2026 & IONS Conclave at Visakhapatnam Exercise MILAN 2026, inaugurated by Defence Minister Rajnath Singh, was conducted from 19–25 February in the Bay of Bengal with the theme “Camaraderie, Cooperation, Collaboration.” IFR 2026 was held on 18 February under the theme “United through Oceans,” presided over by President Droupadi Murmu. 3. Amit Shah Launches Vibrant Villages Programme–II in Assam Union Home Minister Amit Shah launched Vibrant Villages Programme–II (VVP–II) at Nathanpur village in Cachar district, Assam, to boost border development and security. The scheme has an outlay of ₹6,839 crore till FY29 and will cover 1,954 border villages across 15 states and 2 UTs, focusing on basic services, livelihoods, and strategic border infrastructure aligned with Viksit Bharat@2047. 4. Ministry of Power Sets Oversight Panels for PFC–REC Merger The Ministry of Power constituted a high-level committee and a Working Group to oversee the proposed merger of Power Finance Corporation and REC Limited. The panel will monitor progress, resolve policy issues, and ensure integration of personnel, pay scales, and service conditions. 5. Mizoram Inaugurates Lengtekai ‘Faith Bridge’ over Tlawng River Mizoram CM Lalduhoma inaugurated the 100-metre Lengtekai Bridge over the Tlawng River in Aizawl, built at a cost of ₹43.83 crore with funding from the Ministry of Road Transport and Highways. The bridge enhances connectivity between Aizawl, Lengpui Airport, and Mamit district, replacing old Bailey structures and improving transport safety. 6. UP Govt & IOCL Sign MoU for International Cricket Stadium in Gorakhpur The Government of Uttar Pradesh signed an MoU with Indian Oil Corporation Limited to build a ₹339 crore international cricket stadium in Gorakhpur with a seating capacity of 30,000. The project will be funded through CSR contributions from IOCL, BPCL, and HPCL and is expected to be completed by December 2027. 7. India–Israel Sign MoU on Defence Industrial Cooperation India and Israel signed an MoU in Tel Aviv to deepen defence industrial collaboration through joint seminars, technology sharing, co-development, and industrial partnerships. The agreement was facilitated by SIBAT and SIDM, focusing on strengthening interoperability and defence manufacturing under the Defence Acquisition Procedure (DAP) 2026. 8. GIFT City & AJNIFM Sign MoU for FinTech and Finance Talent GIFT City signed an MoU with the Arun Jaitley National Institute of Financial Management to build talent in international finance and FinTech. The partnership includes PG programmes, research collaboration, and industry immersion aligned with India’s IFSC ecosystem. 9. Tata Group Partners OpenAI for India’s First Large-Scale AI Data Centre The Tata Group partnered with OpenAI to establish an AI-ready data centre under the Stargate initiative. TCS HyperVault will begin with 100 MW capacity scalable to 1 GW, supported by green energy and AI-optimised hardware, with plans to deploy ChatGPT Enterprise across Tata operations. 10. DRDO Conducts Drogue Parachute Test for Gaganyaan The Defence Research and Development Organisation successfully conducted a qualification-level load test of the drogue parachute
Daily Current Affairs (DCA) 20 February, 2026
Daily Current Affairs Quiz20 February, 2026 International Affairs 1. India to Join US-Led Pax Silica Initiative Source: TH What is the news? India is set to join the United States-led Pax Silica initiative, a multilateral framework aimed at building secure and resilient supply chains in advanced technologies such as semiconductors, artificial intelligence and critical minerals. The announcement is expected on the sidelines of an international summit. What is Pax Silica? Pax Silica is a strategic technology partnership led by the United States that seeks to: It covers the full value chain — from mineral extraction and processing to chip fabrication, advanced manufacturing and digital infrastructure. Why India’s Participation Matters National Affairs 1. India–UK Offshore Wind Taskforce Source: TOI Context: India and the United Kingdom have launched the India–UK Offshore Wind Taskforce under Vision 2035 to strengthen bilateral cooperation and accelerate development of offshore wind energy in India. What is the India–UK Offshore Wind Taskforce? Objectives 2. Privileges Committee Source: TNIE Context: The Privileges Committee and the Ethics Committee have reportedly not been constituted in the Lok Sabha for nearly two years, raising concerns about oversight and enforcement of parliamentary privileges. What is the Privileges Committee? The Privileges Committee is a specialised parliamentary committee that examines cases of breach of privilege or contempt of the House. It functions as a quasi-judicial body to safeguard the special rights and immunities of the legislature and its members. Its purpose is to ensure that Parliament and legislators can perform their duties without obstruction, intimidation or undue interference. Historical Origin Constitutional Provisions Composition Main Functions 3. MeitY Launches AI Impact Startup Book at India AI Impact Summit 2026 Source: PIB Context: The Ministry of Electronics and Information Technology (MeitY) launched the AI Impact Startup Book at the India AI Impact Summit 2026. The publication is a comprehensive study of India’s artificial intelligence and deep-tech startup ecosystem. What is the AI Impact Startup Book? It is described as the first comprehensive compendium of AI solutions in India. Purpose and Objectives 4. VoicERA Launched on BHASHINI National Infrastructure Source: News on AIr Context: VoicERA, an open-source end-to-end Voice AI stack, was launched at the India AI Impact Summit 2026 on the BHASHINI National Language Infrastructure. What is VoicERA? VoicERA is an open-source Voice AI execution stack that serves as a national deployment layer for multilingual speech and conversational AI systems.It enables large-scale voice-based digital services across sectors such as governance, public services and innovation. Institutional Framework Objectives 5. 23rd Edition of BioAsia 2026 Held in Hyderabad Source: News on Air Context: The 23rd edition of BioAsia 2026, Asia’s leading life sciences and health-tech forum, was held in Hyderabad, Telangana on 17–18 February 2026. The event was inaugurated by the Chief Minister of Telangana, A. Revanth Reddy, at the HITEX Exhibition Centre. About BioAsia 2026 Theme“TechBio Unleashed – AI, Automation and the Biology Revolution.” OrganiserGovernment of Telangana. Hyderabad is the permanent host city. Significance of Hyderabad Key Significance of the Summit Banking/Finance 1. Draft RBI Norms on INR Derivatives May Boost Bank Presence in GIFT City Source: BS What is the news? Draft norms issued by the Reserve Bank of India (RBI) on rupee non-deliverable derivative contracts (NDDCs) are expected to encourage banks to expand operations in GIFT City’s International Financial Services Centre (IFSC). Background Key Provisions in the Draft Framework Facts 2. RBI Asks NPCI to Review UPI Autopay Over Debit Concerns Source: Mint What is the news? The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to review UPI Autopay after a rise in complaints about involuntary recurring payment mandates and difficulty in cancelling them. Background What is UPI Autopay? UPI Autopay is a feature of the Unified Payments Interface (UPI) that allows users to set up automatic recurring payments through pre-approved mandates. Once authorised, payments are deducted automatically at scheduled intervals without requiring manual approval each time. It was launched by the National Payments Corporation of India (NPCI) in 2020. Facts To Remember 1. EPFO Likely to Link with Government Databases to Boost Compliance The Employees’ Provident Fund Organisation (EPFO) is planning to integrate its database with multiple central ministries and state governments to strengthen compliance monitoring and improve implementation of employment-linked schemes. 2. FCI Signs MoU with WFP for Global Hunger Relief In February 2026, the Food Corporation of India under the Ministry of Consumer Affairs, Food and Public Distribution signed an MoU with the World Food Programme to supply rice for global humanitarian operations. FCI will provide 2 lakh MT rice (up to 25% broken), with the agreement valid for 5 years from 17 February 2026 and current price fixed at ₹2,800 per quintal till March 31, 2026. 3. IICA Forms High-Level Ease of Doing Business Panel On 18 February 2026, the Indian Institute of Corporate Affairs set up a high-level Advisory Group on Ease of Doing Business chaired by Gyaneshwar Kumar Singh to modernise compliance under the Companies Act, 2013. The School of Business Environment will act as Secretariat and IICA also signed an MoU with MCA for a study on “Re-envisioning Ease of Doing Business for Viksit Bharat 2047”. 4. CMA CGM Signs USD 360 Million Deal with Cochin Shipyard France-based CMA CGM signed a contract with Cochin Shipyard Limited to build six LNG-fuelled feeder container vessels worth USD 360 million. The vessels will be constructed in Kochi, marking the first ‘Made in India’ container ship order by a global shipping major. 5. GEAPP Launches ‘India Grids of the Future Accelerator’ The Global Energy Alliance for People and Planet launched a USD 25 million accelerator during Mumbai Climate Week 2026 to modernise power distribution and support renewable integration. The initiative aims to support at least 15 DISCOMs and impact nearly 300 million people through digitalisation, DER integration, democratisation and grid innovation. 6. India–UK Offshore Wind Task Force under Vision 2035 India and the United Kingdom launched the Offshore Wind Task Force during the 4th India–UK Energy Dialogue to accelerate offshore wind deployment. Gujarat and
VoicERA Launched on BHASHINI National Infrastructure
Source: News on AIr Context: VoicERA, an open-source end-to-end Voice AI stack, was launched at the India AI Impact Summit 2026 on the BHASHINI National Language Infrastructure. What is VoicERA? VoicERA is an open-source Voice AI execution stack that serves as a national deployment layer for multilingual speech and conversational AI systems.It enables large-scale voice-based digital services across sectors such as governance, public services and innovation. Institutional Framework Objectives
Draft RBI Norms on INR Derivatives May Boost Bank Presence in GIFT City
Source: BS What is the news? Draft norms issued by the Reserve Bank of India (RBI) on rupee non-deliverable derivative contracts (NDDCs) are expected to encourage banks to expand operations in GIFT City’s International Financial Services Centre (IFSC). Background Key Provisions in the Draft Framework Facts
RBI Asks NPCI to Review UPI Autopay Over Debit Concerns
Source: Mint What is the news? The Reserve Bank of India (RBI) has asked the National Payments Corporation of India (NPCI) to review UPI Autopay after a rise in complaints about involuntary recurring payment mandates and difficulty in cancelling them. Background What is UPI Autopay? UPI Autopay is a feature of the Unified Payments Interface (UPI) that allows users to set up automatic recurring payments through pre-approved mandates. Once authorised, payments are deducted automatically at scheduled intervals without requiring manual approval each time. It was launched by the National Payments Corporation of In
Daily Current Affairs (DCA) 19 February, 2026
Daily Current Affairs Quiz19 February, 2026 International Affairs 1. G7 Summit 2026 Source: Mint Context: French President Emmanuel Macron has invited Prime Minister Narendra Modi to attend the 52nd G7 Summit 2026, to be held in Évian, France. India is not a member but is often invited as an outreach partner due to its global economic and geopolitical significance. What is the G7 Summit? An annual meeting of leaders of major advanced economies to discuss: About the G7 The Group of Seven (G7) is an informal forum of leading industrial democracies. Members European Union participates as a non-enumerated member. Origin and Evolution National Affairs 1. Beat the Heat Programme Source: Indian Express Context: Maharashtra announced that 30 cities have joined the global Beat the Heat Programme during Mumbai Climate Week 2026. What is the Beat the Heat Programme? Objectives 1. Climate Mitigation 2. Climate Adaptation 2. India–France Special Global Strategic Partnership Source: News on Air Context: French President Emmanuel Macron visited India to attend the India AI Impact Summit and launch the 2026 India–France Year of Innovation. During the visit, India and France elevated ties to a “Special Global Strategic Partnership”, a long-term framework guiding cooperation till 2047. What is the Special Global Strategic Partnership? A major diplomatic upgrade that expands the relationship into a comprehensive global alliance, focusing on: 1. Strategic Autonomy 2. Global Governance 3. Security & Innovation Evolution of India–France Relations Key Agreements Under the New Partnership Innovation & Technology Defence Cooperation Nuclear Energy Indo-Pacific Cooperation Space Collaboration Mobility & Education 3. Sarvam Launches Made-in-India Large Language Models (LLMs) Source: BS Context: Indian artificial intelligence (AI) startup Sarvam launched two indigenous large language models (LLMs) specifically trained on Indian languages What Happened? Key Technical Features Large Language Models (LLMs) Large Language Models (LLMs) are advanced artificial intelligence systems trained to understand, generate, and interact using human language. They are called “large” because they are trained on massive amounts of text data and contain billions (or even trillions) of parameters — the internal settings that help the model learn patterns. Most modern LLMs use Transformer architecture (introduced in 2017). 4. AI-Preneurs of India Source: PIB Context: The Atal Innovation Mission (AIM) under NITI Aayog launched AI-Preneurs of India at the India AI Impact Summit 2026. What is AI-Preneurs of India? Objectives 5. Indian Navy Launches Cadet Training Ship INS Krishna Source: TOI Context: What is INS Krishna? Purpose of Cadet Training Ships 6. Government Launches SAHI & BODH Initiatives Source: TH Context: At the India AI Impact Summit 2026, the Union Health Minister launched two major digital health initiatives: Nodal Ministry: Ministry of Health and Family Welfare These initiatives aim to ensure safe, ethical, transparent and accountable use of AI in healthcare. What is SAHI? A national governance framework and policy roadmap for responsible AI adoption in India’s healthcare sector. It acts as a policy compass guiding ethical and people-centric AI deployment. Objectives Key Features 1. Governance Framework 2. Ethical AI Standards 3. Interoperability 4. Multi-Stakeholder Model 5. Long-Term Policy Roadmap What is BODH? A national benchmarking and validation platform for health AI tools. Developed by: Objectives Key Features 1. Open Data Benchmarking 2. Performance Validation 3. Bias & Risk Assessment 4. Clinical Relevance Testing 5. Standardised Evaluation Norms 7. Bee Corridor (India’s First Pollinator Highway Initiative) Source: ET Context: The National Highways Authority of India (NHAI) has announced the development of India’s first dedicated “Bee Corridors” along National Highways. What are Bee Corridors? Aim Key Features 1. Native Nectar-Rich Plant Species Examples include: Supports biodiversity and local ecosystems. 2. Staggered Blooming Cycle 3. Strategic Spacing Banking/Finance 1. Banks Take Cautious Approach to Acquisition Financing Under RBI Norms Source: BS What Happened? After the Reserve Bank of India (RBI) issued final guidelines on acquisition financing, banks are preparing to enter the segment gradually and cautiously. What is Acquisition Financing? Key RBI Guardrails (Risk Control Measures) 1. Exposure Limits 2. Corporate Eligibility Conditions Acquiring company must have: 3. Leverage Control 4. Financing Structure Purpose of Safeguards 2. NPCI–Nvidia Partnership for Sovereign AI in Payments Source: ET Context: National Payments Corporation of India (NPCI) partnered with Nvidia to strengthen sovereign AI infrastructure for India’s payment ecosystem. Aim: Develop a payments-focused foundational AI model aligned with India’s regulatory and data sovereignty requirements. Key Features of the Partnership 1. Payments-Native AI Foundation 2. Use of Nvidia Nemotron Models 3. Scalable AI Architecture 3. RBI mandates Unique Transaction Identifier (UTI) for OTC derivatives Source: BL Context: The Reserve Bank of India (RBI) has mandated the use of a Unique Transaction Identifier (UTI) for all Over-the-Counter (OTC) derivative transactions. What is a UTI? Purpose of mandating UTI UTI will now be mandatory for all these transactions. OTC (Over-the-Counter) derivatives OTC (Over-the-Counter) derivatives are financial contracts that are traded directly between two parties, without going through a formal stock exchange. They are privately negotiated contracts. Agriculture 1. Circular Economy in Agriculture: Waste to Wealth Source: PIB Context: India is promoting a circular economy in agriculture by converting agricultural waste into energy, organic inputs, and economic value — aligning environmental sustainability with rural development. What is Circular Economy in Agriculture? A system that treats waste as a resource, not a disposal problem. Core Principles (6Rs) Goal: Keep materials in use, minimise resource extraction, and eliminate waste. Types of Agricultural Waste Value Conversion Technologies Major Government Initiatives 1. GOBARdhan Scheme 2. Crop Residue Management (CRM) 3. Agriculture Infrastructure Fund (AIF) 4. Animal Husbandry Infrastructure Development Fund (AHIDF) 5. Water Reuse Initiatives (Jal Shakti) Link to Sustainable Development Goals (SDGs) Circular agriculture supports: Helps address 1.05 billion tonnes of global food waste (2022). 2. Bharat VISTAAR: Farmers’ Digital Companion Source: News on Air Context: On 17 February 2026, Union Agriculture Minister Shivraj Singh Chouhan launched Bharat VISTAAR in Jaipur, Rajasthan. Full name: Bharat – Virtually Integrated System to Access Agricultural ResourcesIt is an AI-driven digital platform for farmers. What is Bharat VISTAAR? A digital companion for farmers that integrates agricultural data, schemes, and advisory services into a