Daily Current Affairs Quiz27 February, 2026 National Affairs 1. Artificial Intelligence (AI) Transforming Rural India Source: PIB Why in News? Government highlights the expanding role of Artificial Intelligence (AI) in rural development. Emphasis on inclusive, people-centric AI aligned with Viksit Bharat@2047. India–AI Impact Summit 2026 signals transition from pilot projects to system-wide AI deployment. Key Takeaways National AI Policy & Governance Framework National Strategy for Artificial Intelligence (2018) – “AI for All” India AI Governance Guidelines (2025) Launched by Ministry of Electronics and IT (MeitY). Core Features Focus Areas AI in Rural Governance AI in Panchayati Raj Institutions SabhaSaar eGramSwaraj Gram Manchitra AIKosh AI Infrastructure in Rural Development BhuPRAHARI Digital ShramSetu Mission AI in Agriculture AI in Education & Skilling DIKSHA (NCERT) YUVAI (Youth for Unnati and Vikas with AI) Suman Sakhi (Madhya Pradesh) AI for Multilingual Inclusion BHASHINI BharatGen Adi Vaani 2. 7th Edition of India–Japan Joint Military Exercise DHARMA GUARDIAN Source: News on Air Why in News? The 7th edition of Exercise DHARMA GUARDIAN, the annual joint military exercise between India and Japan, began on February 24, 2026 at the Foreign Training Node, Chaubattia, Uttarakhand. The exercise will continue till March 9, 2026. About Exercise DHARMA GUARDIAN 2026 Nature of Exercise Participating Forces Indian Contingent Japanese Contingent 3. South Central Railway Launches Next-Generation ‘Rail Parcel App’ Source: News on Air Why in News? South Central Railway (SCR) launched a next-generation ‘Rail Parcel App’ at Rail Nilayam, Secunderabad. The app is designed as a digital e-marketplace for freight and parcel services. About the Rail Parcel App Pilot Rollout 4. International Climate Initiative (IKI) Source: NIE Why in News? Germany and India have launched a €20 million (approx. ₹180 crore) Large Grant project under the International Climate Initiative (IKI). The project aims to strengthen India’s climate resilience, especially in ecologically vulnerable regions. About International Climate Initiative (IKI) The International Climate Initiative (IKI) is a key financial mechanism of the German Government that funds international projects focused on: It supports developing and emerging economies in achieving global climate goals. Established: 2008 Countries Involved Aim Banking/Finance 1. SEBI Broadens Mutual Fund Categories Source: TH Context: India’s market regulator, Securities and Exchange Board of India (SEBI), has expanded mutual fund (MF) categories to better reflect changing investor needs and evolving market dynamics. Key Regulatory Changes 1. Introduction of Lifecycle Funds 2. Sectoral Debt Funds Allowed Asset Management Companies (AMCs) can now launch schemes that invest in debt instruments of specific sectors. Key conditions: This enables targeted exposure to specific industries through relatively safer, high-rated debt. 3. Investment Flexibility in Long-Duration Funds 2. New GDP Data Series to Capture Economy More Accurately Source: ET Why in News? India is releasing a new series of national accounts incorporating methodological and statistical upgrades. The revision aims to make GDP and GVA estimates more accurate, granular, and reflective of the present economic structure. Key Changes in the New GDP Series 1. Base Year Revision 2. Improved Measurement of Private Corporate Sector 3. Changes in Government Sector Estimation 4. Better Estimation of Household Sector 5. More Accurate Consumption Measurement 3. RBI Gives Compliance Relief for Small Merchant UPI Transactions Source: Business Standard Why in News? The Reserve Bank of India (RBI) has clarified regulatory norms for small merchant UPI transactions (P2PM). The move eases compliance requirements for fintech firms like PhonePe and Paytm, especially in the unorganised retail segment. Key RBI Clarifications Background What are P2PM Transactions? Difference: P2PM vs P2M 3. Sixteenth Finance Commission and Fiscal Challenges for States Why in News? Key Concepts Vertical Devolution Horizontal Devolution Major Changes in the 16th Finance Commission Award Vertical Devolution Horizontal Devolution States with Increased Share States with Reduced Share Debt and Devolution Concerns Additional Concern: Shift in Central Funding Pattern Implication Fiscal Consolidation Targets (16th Finance Commission) 4. Sebi Broadens Scope for Equity Mutual Funds Source: Business Standard Why in News? Key Regulatory Changes 1. Gold and Silver Exposure in Equity Funds 2. Discontinuation of Solution-Oriented Schemes 3. Introduction of Life Cycle Funds 4. Expansion in Equity and Hybrid Categories 5. Introduction of Sectoral Debt Funds 6. Restrictions on Portfolio Overlap 7. Rationalisation of Fund of Funds (FoF) 5. Sebi Shifts Gold and Silver Valuation Norms for Mutual Funds to Domestic Spot Prices Source: Business Standard Why in News? Key Change Earlier Practice Reason for the Change 6. RBI Prop Trading Curbs May Give Edge to Foreign Firms Source: Mint Why in News? The Reserve Bank of India (RBI) has tightened bank lending norms for proprietary (prop) traders. Market participants say the move may unintentionally favour foreign trading firms. What Has RBI Changed? Eligible Non-Cash Collateral (Banks apply haircuts before issuing guarantees.) Stand-By Letters of Credit (SBLCs) What is an SBLC? 7. NSE IX Launches ‘Global Access’ Platform for Overseas Investing Source: TOI Why in News? About NSE IX Global Access Platform Market Coverage Investment Framework Operational Mechanism Regulation 8. RBI Reports 10.1% Sales Growth for Private Non-Financial Companies Source: News on Air Why in News? Coverage of the Report Sector-wise Performance Manufacturing Information Technology (IT) Non-IT Services Overall Trends 9. RBI Approves SBI Mutual Fund’s Stake Purchase in Bandhan Bank Source: ET Why in News? The Reserve Bank of India (RBI) has approved a proposal by SBI Mutual Fund to acquire up to 9.99% stake in Bandhan Bank. Key Details Regulatory Conditions The acquisition must comply with: Agriculture 1. Sebi Working Groups on Agricultural Commodities Submit Reports Source: Mint Why in News? The Securities and Exchange Board of India (Sebi) has received reports from working groups reviewing the delivery and settlement framework in agricultural commodity markets. Key Developments Agri Commodity Derivatives Non-Agricultural Commodity Derivatives 2. AgroTech 2026 Source: Indian Express Why in News? A three-day AgroTech 2026 event has been inaugurated in Lucknow to promote innovation, investment, and growth in the agricultural sector. Key Highlights: Focus Areas 3. AgriStack Source: Business Standard Why in News? The Union Finance Minister described AgriStack as the “next UPI” at Business Standard Manthan. The government is building a digital public

Daily Current Affairs Quiz26 February, 2026 National Affairs 1. World Bank’s Women, Business and the Law 2026 Report Why in News? The World Bank released the Women, Business and the Law 2026 report, highlighting a major global implementation gap — laws supporting women’s economic equality exist in many countries but are weakly enforced due to inadequate policies, institutions, and support systems. About the Report Key Findings Global Implementation Gap Safety Gap Limited Legal Equality Economic Impact Childcare Deficit Entrepreneurship Barriers Reform Momentum Implementation Crisis Global Best Practices Major Structural Challenges Way Forward 2. India–GCC Free Trade Agreement (FTA) Source: TOI Why in News? India and the Gulf Cooperation Council (GCC) have signed a Joint Statement formally launching negotiations for the proposed India–GCC Free Trade Agreement (FTA). What is the India–GCC FTA? A proposed comprehensive trade agreement between India and the six GCC member states: The agreement aims to reduce trade barriers, improve market access, and deepen economic integration between India and the Gulf region. Key Features 1. Formal Launch of Negotiations 2. Comprehensive Coverage The FTA is expected to include: 3. Major Trade Partnership 4. Sectoral Complementarity India’s exports to GCC: India’s imports from GCC: 5. Investment & Diaspora Linkages 3. Eurasian Diving Duck Spotted in Kaziranga National Park Source: TH Why in News? A rare Eurasian diving duck — the Smew (Mergellus albellus) — was recorded for the first time in Kaziranga National Park and Tiger Reserve, Assam, during the 7th waterbird census (January 2026).Its presence has raised concerns about climate-driven shifts in migratory bird ranges. About the Smew About Kaziranga Waterbird Census 2026 4. Union Cabinet Approves Renaming Kerala as “Keralam” Source: IE Why in News? The Union Cabinet has approved the proposal to officially rename the State of Kerala as Keralam, following resolutions passed by the Kerala Legislative Assembly in 2023 and 2024. What is the Decision? Constitutional Provisions Involved Article 3 of the Constitution Empowers Parliament to: Proviso to Article 3 First Schedule of the Constitution Procedure for Renaming a State 5. PMO Reviews Proposed CAFE-3 Norms for Passenger Vehicles Source: Mint Why in News? The Prime Minister’s Office (PMO) held a high-level meeting to review the proposed Corporate Average Fuel Efficiency (CAFE-3) norms for passenger vehicles, expected to come into force from 2027.No final decision has been taken yet. What are CAFE Norms? Corporate Average Fuel Efficiency (CAFE) standards regulate the average fuel efficiency and CO₂ emissions of vehicles sold by an automobile manufacturer in a financial year. They aim to: CAFE norms are implemented by the Bureau of Energy Efficiency (BEE) under the Ministry of Power. About CAFE-3 6. Human Papillomavirus (HPV) Vaccination Programme Source: TH Why in News? The Government of India is set to launch a nationwide HPV vaccination programme to prevent cervical cancer among adolescent girls. What is HPV Vaccination? How HPV Causes Cancer 7. Military Exercises in News Source: ET Why in News? India has begun two major joint military exercises — Exercise DHARMA GUARDIAN (India–Japan) and Exercise VAJRA PRAHAR (India–US) — to strengthen defence cooperation, interoperability, and operational readiness. What are Military Exercises? Joint training operations conducted by armed forces of two or more countries to: Exercise DHARMA GUARDIAN An annual bilateral military exercise between the Indian Army and the Japan Ground Self-Defense Force (JGSDF). Host Location Foreign Training Node, Chaubattia, Uttarakhand (India). Participating Countries Exercise VAJRA PRAHAR A joint Special Forces exercise between India and the United States. Host Location Special Forces Training School, Bakloh, Himachal Pradesh (India). Participating Countries 8. UDAN (Ude Desh ka Aam Nagrik) Scheme Why in News? India has operationalised only four airports in FY26 under the UDAN (Ude Desh ka Aam Nagrik) scheme — the lowest number added in a single fiscal year since the programme began in 2016. About UDAN Scheme UDAN (Ude Desh ka Aam Nagrik) is a regional air connectivity scheme launched by the Government of India in 2016 to make air travel affordable and accessible, especially for people in smaller towns and remote regions. It is implemented under the Regional Connectivity Scheme (RCS). Objectives Banking/Finance 1. National Asset Monetisation Pipeline (NMP 2.0) Why in News? The Union government has launched the second phase of the National Asset Monetisation Pipeline (NMP 2.0), prepared by NITI Aayog in coordination with line ministries, to unlock value from public infrastructure assets and mobilise investment. What is NMP? The National Asset Monetisation Pipeline (NMP) is a structured programme aimed at monetising existing public infrastructure assets by leasing them to private players for a fixed period, while ownership remains with the government. It was first launched in 2021. About NMP 2.0 Key Objectives 2. Digital Rupee Pilot for Food Subsidy Under PMGKAY Source: Mint Why in News? The Union government will launch a Central Bank Digital Currency (CBDC)-based pilot for delivering food subsidies under the Pradhan Mantri Garib Kalyan Anna Yojana (PMGKAY) in Puducherry from 26 February. This marks a shift toward digital, traceable, and purpose-bound subsidy delivery. What is the Initiative? Objectives of the Pilot What is CBDC? About PMGKAY 3. IRDAI Directs Insurers to Cut Costs to Make Health Covers Affordable Source: The Times of India Why in News? The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to reduce operational and distribution costs to make health insurance policies more affordable, particularly for the “missing middle” segment. What is the Issue? Key Directions by IRDAI 1. Reduce Expenses of Management (EoM) 2. Improve Efficiency 3. Promote Product Innovation Facts To Remember 1. Rajasthan Scraps Two-Child Norm for Local Body and Panchayat Elections The Rajasthan Cabinet has approved the removal of the long-standing two-child norm that barred individuals with more than two children from contesting panchayat and urban local body elections. 2. UK Enforces Digital Travel System; eVisas Mandatory for Indians The United Kingdom has implemented a fully digital immigration and border system from February 25, making eVisas mandatory for Indian travellers and introducing Electronic Travel Authorisation (ETA) for visa-exempt visitors. 3. RBI Summons Yes Bank Executives over Forex Card