Source: BS Why in News? Life insurance companies have proposed changes to commission structures to the Insurance Regulatory and Development Authority of India (IRDAI), including deferring a portion of frontloaded distributor commissions to reduce policy costs and improve customer value. Who Proposed Key Proposal 1. Deferment of Frontloaded Commissions Objective: 2. Cost Optimisation Measures 3. Possible Commission Caps Reason for Reform High Acquisition Costs High distributor commissions are: Expense of Management (EoM) Norms
RBI Draft Consumer Protection Norms for Financial Products & Loan Recovery
Source: ET Why in News? The Reserve Bank of India (RBI) has issued draft amendment directions on: The rules are expected to take effect from July 1, 2026, aiming to strengthen consumer protection in banking and financial services. Objective Key Provisions — Mis-selling and Product Sales 1. Ban on Incentive-Driven Third-Party Sales 2. Restrictions on Product Bundling 3. Ban on Dark Patterns 4. Customer Suitability Assessment Banks must evaluate: 5. Explicit Customer Consent 6. Customer Feedback Mechanism 7. Compensation for Mis-selling 8. Expanded Definition of Mis-selling Includes: Key Provisions — Loan Recovery Practices Prohibited Practices Compliance Requirements
How the Fertiliser Industry Has Become Synonymous with Controls
Source: IE Why in News? An analysis explains why India’s fertiliser industry operates under extensive state control and examines the economic, fiscal and environmental consequences of this regulatory structure. Core Theme India’s fertiliser sector is one of the most heavily regulated industries due to its central role in: Government control ensures affordability but creates market distortions and long-term sustainability challenges. Nature of Government Control 1. Price Control (Especially Urea) 2. Subsidy-Driven Market Structure 3. Administrative Control of Supply 4. Regulatory Oversight of Sales and Products
Daily Current Affairs (DCA) 17 February, 2026
Daily Current Affairs Quiz17 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? 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: Key Goals 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) National Health Authority (NHA) District Administration Objectives 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 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: Production methods: What are Enzymes? Produced through: Applications Chemical Industry Pharmaceuticals Food Processing Textiles & Detergents Clean Technology 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 Reserve Bank of India (RBI) Objectives 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 About the Brahmaputra River (Mapping Focus) Origin Different Names Countries Flowed Through China (Tibet) → India → Bangladesh Indian States 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 About the National Green Tribunal (NGT) 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)? Key Objectives of the Revised Framework Major Changes Introduced 1. Expansion of Eligible Participants 2. Removal of Borrowing Cost Restrictions ➡ More flexibility in negotiating loan terms. 3. Rationalisation of Maturity and Borrowing Limits 4. End-Use Clarifications ECB funds may now be used for: However: 5. On-Lending by RBI-Regulated Entities 6. Changes Related to Authorised Dealer (AD) Banks 7. Simplified Reporting Requirements 8. Clarifications on Financial Instruments 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 How the System Works Purpose 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
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? 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: Key Goals
PM RAHAT Scheme
Source: News on Air Context: The Government of India has launched PM RAHAT to provide cashless emergency medical treatment up to â‚ą1.5 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: âś” Cashless treatment for road accident victimsâś” Coverage for the first 7 days after accidentâś” 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) National Health Authority (NHA) District Administration Objectives
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: Production methods: What are Enzymes? Produced through: Applications Chemical Industry Pharmaceuticals Food Processing Textiles & Detergents Clean Technology
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 Reserve Bank of India (RBI) Objectives
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 About the Brahmaputra River (Mapping Focus) Origin Different Names Countries Flowed Through China (Tibet) → India → Bangladesh Indian States Drainage basin includes:Nagaland, Meghalaya, West Bengal, Sikkim
NGT Clears â‚ą92,000-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 â‚ą92,000 crore. Major Components About the National Green Tribunal (NGT)
