Current Affairs February 2026

Daily Current Affairs Quiz
31 January, 2026

National Affairs

1. BHARAT SAMPARK

Source: PIB

Context:

BHARAT SAMPARK – Engaging India’s Young Minds is an Economic Survey–linked outreach initiative that gained prominence after a Union Minister interacted with students at Indian Institute of Technology Delhi.
The initiative reflects the government’s effort to bridge policy-making with youth participation, especially in technology and innovation domains.

What is BHARAT SAMPARK?

BHARAT SAMPARK is a government outreach and engagement programme aimed at:

• Connecting India’s youth, particularly students of premier institutions, with
• Public institutions, policy processes, and nation-building initiatives.

Nodal Ministry: Ministry of Communications

Key Features of BHARAT SAMPARK

1. Youth–Government Interface

• Enables direct interaction between students and Union Ministers
• Discussions on:
  • Technology and innovation
  • Logistics and infrastructure
  • Public sector careers and governance
• Promotes policy awareness and participatory governance

2. India Post Modernisation Focus

• Highlights transformation of India Post into a:
  • Digitally enabled logistics and service platform
  • Enabler of e-commerce, financial inclusion, and citizen services
• Demonstrates how legacy institutions can adapt to the digital economy

3. N-Gen (Next Generation) Campus Post Offices

Youth-centric postal facilities established within educational campuses:

• Digitally upgraded post offices
• Student-designed interiors
• Free Wi-Fi, QR-based services, digital payments
• Discounted Speed Post and parcel services for students
• Hands-on student engagement in postal operations and service delivery

4. Deep-Tech and Innovation Exposure

• Platform for students to showcase cutting-edge research, including:
  • Tactile Internet
  • Haptic robotics
• Supports India’s emerging deep-tech ecosystem
• Aligns with the vision of an “Internet of Skills”

2. National Commission for Women marks its 34th Foundation Day

Source: PIB

Context:

The National Commission for Women (NCW) marked its 34th Foundation Day at Bharat Mandapam, New Delhi, reaffirming its commitment to women’s rights, protection, and empowerment.

What is the National Commission for Women (NCW)?

• NCW is a statutory, apex body of the Government of India.
• Mandated to protect, promote, and safeguard the constitutional and legal rights of women.
• Functions as:
  • Watchdog body
  • Advisory authority
  • Grievance redressal mechanism on women-related issues.

Establishment and Legal Basis

• Established: 31 January 1992
• Statutory Basis: National Commission for Women Act, 1990 (Act No. 20 of 1990)
• Nature: Statutory body (not a constitutional body)

Composition of the NCW

(As per Section 3 of the NCW Act, 1990)

• Chairperson: Nominated by the Central Government; committed to the cause of women
• Five Members: From fields such as:
  • Law
  • Administration
  • Education
  • Health
  • Social welfare
  • Labour
  • Women’s movements
• Mandatory Representation:
  • At least one member from SC
  • At least one member from ST

3. India’s First Mega Shipbuilding Cluster in Tamil Nadu

Source: ET

Context:

On 29 January 2026, the Government of India (GoI), in collaboration with the Government of Tamil Nadu, established NSHIP—a Special Purpose Vehicle (SPV)—to develop India’s first mega shipbuilding cluster at Thoothukudi, Tamil Nadu.

About the NSHIP SPV

• Name: National Shipbuilding & Heavy Industries Park (NSHIP)
• Type: Special Purpose Vehicle (SPV)
• Joint Venture:
  • V.O. Chidambaranar Port Authority – 50%
  • State Industries Promotion Corporation of Tamil Nadu (SIPCOT) – 50%

Background

• Formed pursuant to an MoU signed in September 2025 in the presence of Sarbananda Sonowal, under the Ministry of Ports, Shipping and Waterways (MoPSW).

Shipbuilding Development Scheme (SbDS)

Overview

• Launched under a ₹69,725-crore maritime package (Oct 2025).
• Outlay for SbDS: ₹19,989 crore.
• Goal: Build domestic shipbuilding capacity to ~4.5 million GT annually by 2047 via infrastructure and technology upgrades.

Operational Framework

• Guidelines notified: 27 December 2025.
• Supports:
  • Greenfield clusters (e.g., NSHIP-TN)
  • Brownfield modernisation of existing shipyards
  • India Ship Technology Centre at Indian Maritime University

Banking/Finance

1. New Consumer Price Index (CPI) Series

Source: The Indian Express

Context:

The Ministry of Statistics and Programme Implementation (MoSPI) has released details of a new Consumer Price Index (CPI) series, revising the base year from 2011–12 to 2023–24 and reducing the weight of food and beverages from ~46% to ~37%.

What is the New CPI Series?

The new CPI series is an updated framework for measuring retail inflation in India, featuring:

• Base year revision: 2011–12 → 2023–24
• Revised item weights based on the latest Household Consumption Expenditure Survey (HCES) 2023–24
• Expanded item coverage and improved methodology to reflect present-day consumption, including digital services
• CPI remains India’s headline inflation measure and the anchor for monetary policy under the inflation-targeting framework of the Reserve Bank of India

Organisations Involved

• Nodal Ministry: Ministry of Statistics and Programme Implementation
• Primary Data Source: Household Consumption Expenditure Survey (2023–24)

Historical Background of CPI in India

• CPI (Combined: Rural + Urban) introduced in 2011–12 as the primary inflation indicator.
• Earlier weights were based on 2011–12 consumption patterns, which became outdated due to:
  • Rising incomes
  • Urbanisation
  • Shift towards services, housing, transport, and digital consumption
• Periodic base-year revision is a standard international practice to maintain accuracy and relevance.

Methodology / Criteria of the New CPI Series

The revised CPI is constructed using:

• HCES 2023–24 consumption shares (rural and urban)
• Expanded market coverage:
  • 1,465 rural markets and 1,395 urban markets across 434 towns
  • Addition of 12 online markets in large cities
• Item basket expansion: 299 → 358 items
• Improved House Rent Index (HRI):
  • Rent coverage extended to rural areas
  • Exclusion of employer-provided accommodation
• Inclusion of e-commerce prices:
  • Airfares
  • OTT subscriptions
  • Telecom plans

Key Features of the New CPI Series

1. Reduced Food Weight

• Food + beverages weight falls from ~46% to ~36.5–36.75%
• Reflects Engel’s Law: as incomes rise, the share of food in total expenditure declines

2. Higher Housing Weight

• Housing (including water, electricity, gas) rises from ~7% to ~17.66%
• Captures rising urban housing and utility costs

3. Greater Services Representation

• Higher weights for transport, health, education, and communication
• Mirrors India’s services-led consumption transition

4. Digital Economy Inclusion

• Prices from OTT platforms, telecom plans, and online airfares included
• Improves relevance in a digitally integrated economy

5. Lower Inflation Volatility

• Reduced sensitivity of headline inflation to weather-driven food shocks
• Smoother inflation signals for policy decisions

2. Slice Introduces India’s First UPI-Centric Digital Banking Ecosystem

Source: BS

Context:

On 29 January 2026, Slice Small Finance Bank (Slice SFB) launched a UPI-centric digital banking ecosystem, introducing three innovative products:

1. Repo-linked Digital Savings Account
2. UPI-Integrated Credit Card
3. Fully Digital Fixed Deposits (FDs)

Financial Products Launched

1. Digital Savings Bank Account (Repo-Linked)

• First in India to be linked to 100% of the Repo rate of the Reserve Bank of India.
• Interest calculation: Daily calculation and daily credit → real-time growth.
• Key features:
  • Transparent, market-linked returns
  • No minimum balance requirement
  • Instant liquidity
  • Fully digital onboarding
  • UPI-enabled for everyday payments

2. UPI-Integrated Credit Card

• Scan & Pay: Enables payments at any UPI-enabled merchant using an approved credit limit, bypassing traditional card rails.
• Key features:
  • Up to 3% cashback based on usage
  • “Slice in 3”: No-cost EMI conversion for purchases above ₹2,000
  • Weekly rewards via Slice Sparks
  • Zero fees: No joining, renewal, or annual fees
  • Fully digital onboarding and usage
• Significance: Blurs the line between UPI and credit cards, deepening credit penetration via UPI.

3. Digital Fixed Deposits (FDs)

• Fully digital: Opened and managed entirely via the app.
• Interest rate: Up to 7.25% per annum.
• Deposit insurance: Covered up to ₹5 lakh by the Deposit Insurance and Credit Guarantee Corporation (DICGC) under the Ministry of Finance.
• Significance: Combines safety of insured deposits with digital convenience.

Background

• In July 2025, Slice opened India’s first UPI-powered physical bank branch in Bengaluru, Karnataka, marking a hybrid digital-physical banking model.

About Slice Small Finance Bank (Slice SFB)

• CEO: Rajan Bajaj
• Headquarters: Guwahati, Assam
• Established: 2016
• Type: Small Finance Bank with a strong digital-first and UPI-led approach.

3. Paysharp Secures PA-P Licence from RBI

Source: BS

Context:

In January 2026, fintech startup Paysharp received the Payment Aggregator–Physical (PA-P) licence from the Reserve Bank of India (RBI).
Earlier, in August 2024, Paysharp had obtained the Payment Aggregator–Online (PA-O) licence.

What is the PA-P Licence?

• PA-P (Payment Aggregator–Physical) authorises an entity to aggregate and process in-person (offline) digital payments for merchants.
• With both PA-O and PA-P, Paysharp is now permitted to offer end-to-end payment acceptance across online and offline channels from a single, RBI-regulated platform.

Key Implications of the Licence

1. Unified Online–Offline Payments

• Enables a single, compliant stack for e-commerce and in-store payments.
• Improves settlement efficiency, compliance, and risk management.

2. Omnichannel Capability

• Serves merchants in-store, on-the-go, and online without dependence on third-party aggregators.
• Enhances merchant experience and reduces operational friction.

About Paysharp

• Established: 2019
• Headquarters: Chennai, Tamil Nadu
• Business Model: Flat-fee pricing—merchants pay a fixed charge per transaction.
• Client Base:
  • Government and B2B enterprises
  • NBFCs
  • SMBs
  • E-commerce merchants

4. UAE Central Bank Approves First USD-Backed Stablecoin

Source: News on Air

Context:

The Central Bank of the United Arab Emirates has approved the first USD-backed stablecoin (USDU) under its Payment Token Services Regulation, marking a significant step in regulating digital assets and blockchain-based payments.

What is the USD-Backed Stablecoin (USDU)?

• A USD-backed stablecoin is a cryptocurrency pegged 1:1 to the US dollar, designed to ensure price stability.
• The newly approved USDU is issued by Universal Digital, a crypto firm regulated by the Abu Dhabi Global Market (ADGM).
• It is the first foreign payment token issuer registered with the UAE central bank.

Key Features of the USDU Stablecoin

• Full USD backing: Each token is backed by equivalent US dollar reserves.
• Regulated framework: Approved under the UAE’s Payment Token Services Regulation.
• Blockchain-based settlement: Enables faster, cheaper, and transparent transactions.
• Cross-border utility: Useful for international transfers, trade settlement, and remittances.
• Financial innovation: Bridges traditional finance with regulated digital asset infrastructure.

5. NSE receives SEBI approval for IPO

Source: ET

Why in News?

The National Stock Exchange (NSE) has received a no-objection certificate (NOC) from the market regulator, clearing the way for it to initiate the process for its long-awaited Initial Public Offering (IPO).

What Does the NOC Mean?

• The NOC signifies that SEBI has no regulatory objection to NSE proceeding with IPO-related steps.
• It allows NSE to:
  • Appoint merchant bankers and other intermediaries
  • Finalise the Draft Red Herring Prospectus (DRHP)
  • Begin formal IPO preparations, subject to compliance with listing norms

About NSE

• Established: 1992
• Nature: India’s largest stock exchange by trading volume
• Known for:
  • Nationwide electronic trading
  • Strong role in financial market modernisation

Facts To Remember

1. Shaheed Diwas / Martyrs’ Day 2026 – January 30

Observed across India to honour national martyrs and mark the 78th death anniversary of Mahatma Gandhi, assassinated on January 30, 1948, at Birla House (now Gandhi Smriti), New Delhi.

2. World Neglected Tropical Diseases Day 2026 – January 30

The 7th observance of WNTDD highlighted global efforts to eliminate neglected tropical diseases under the theme “Unite. Act. Eliminate,” aligned with WHO’s NTD Roadmap (2021–2030).

3. Kerala Budget FY27 Presented by FM K N Balagopal

Kerala’s Finance Minister presented a people-centric FY27 budget of about ₹2.40 lakh crore, focusing on social security, elderly welfare, women-centric schemes, and fiscal consolidation.

4. Andhra Pradesh Signs MoU with FICCI-FLO for Women Entrepreneurs’ Industrial Park

Andhra Pradesh signed an MoU with FICCI-FLO to establish a 30-acre Women Entrepreneurs’ Industrial Park in Amaravati to promote women-led MSMEs and industrial self-reliance.

5. Civil Aviation Minister Inaugurates Wings India 2026

Union Civil Aviation Minister Ram Mohan Naidu Kinjarapu inaugurated Wings India 2026 at Begumpet Airport, Hyderabad, a biennial aviation event themed “Indian Aviation: Paving the Future,” hosted by the Ministry of Civil Aviation with Telangana government support.

6. Bharat Parv 2026 Inaugurated at Red Fort

Lok Sabha Speaker Om Birla and Union Minister Gajendra Singh Shekhawat inaugurated the six-day Bharat Parv 2026 at Red Fort, New Delhi, to showcase India’s cultural diversity, promote tourism, and support Aatmanirbhar Bharat.

7. 12th SIFFCY 2026 Begins in New Delhi

The 12th Smile International Film Festival for Children and Youth (SIFFCY) 2026 began in New Delhi, focusing on diversity, equity, and inclusion through socially relevant films, including works by disabled children.

8. 11th Ajanta-Ellora International Film Festival Commences

The 11th Ajanta-Ellora International Film Festival started in Chhatrapati Sambhajinagar, honouring composer Ilaiyaraaja with the Padmapani Award and opening with the Spanish film ‘Siret’.

9. Assam Launches Mukhya Mantrir Eti Koli Duti Paat Scheme

Assam Chief Minister launched the Mukhya Mantrir Eti Koli Duti Paat scheme to mark 200 years of the tea industry, providing ₹5,000 financial aid and welfare benefits to over 6 lakh tea garden workers.

10. Department of Posts Partners with Stock Holding Services Ltd

The Department of Posts signed an agreement with Stock Holding Services Limited to expand access to regulated capital market services such as demat accounts, mutual funds, and IPOs through post offices and digital platforms.

11. Sheikh Joaan bin Hamad Al Thani Elected OCA President

Sheikh Joaan bin Hamad Al Thani was elected as the new President of the Olympic Council of Asia during the OCA General Assembly held in Tashkent, Uzbekistan.

12. Sikkim Police Receives President’s Police Colour Award

Sikkim Police was conferred the President’s Police Colour (Nishaan) for exemplary service, becoming the 15th state and third in Northeast India to receive this honour.

13. Dr Chandrakant Lahariya Wins Wiley Research Heroes Prize 2025

Dr Chandrakant Lahariya became the first Indian to win the Wiley Research Heroes Prize 2025 for his impactful health policy research under the “Impact Beyond Academia” category.

14. Indian Army Signs MoU with IISc Bengaluru for Indigenous AI System

The Indian Army signed an MoU with IISc Bengaluru to jointly develop a fully indigenous AI-based system to address emerging digital and information warfare challenges.

15. Former BCCI President Inderjit Singh Bindra Passes Away

Former BCCI President Inderjit Singh Bindra passed away at 84, remembered for his role in bringing the 1987 Cricket World Cup to the subcontinent and his long service to Indian cricket.

Daily Current Affairs Quiz
03 & 04 February, 2026

National Affairs

1. Wetlands as a National Public Good

Source: The Hindu

Context:

India observed World Wetlands Day 2026 under the theme “Wetlands and traditional knowledge”, highlighting the cultural–ecological linkages of wetlands. On this occasion, India added two new Ramsar sites — Patna Bird Sanctuary (Uttar Pradesh) and Chhari-Dhand (Gujarat) — taking the national total to 98 Ramsar sites, the highest in South Asia.

What are Wetlands and Why are They a National Public Good?

Wetlands are ecosystems where land is permanently or seasonally saturated with water, either fresh, brackish, or saline. They include marshes, swamps, floodplains, mangroves, peatlands, lakes, lagoons, and human-made systems such as tanks and paddy fields.

Why a National Public Good?

Wetlands qualify as national public goods because:

• Their benefits are non-excludable (no one can be easily prevented from benefiting)
• Their services are largely non-rivalrous (one person’s use does not diminish another’s)

They provide ecosystem services essential to society at large—flood control, groundwater recharge, water purification, climate regulation, biodiversity conservation, and livelihoods—which markets often fail to value adequately.

Key Characteristics of Wetlands

1. Hydrology
   Presence of water at or near the surface for at least part of the year, determining wetland functions.
2. Hydric Soils
   Anaerobic, waterlogged soils formed due to prolonged saturation.
3. Hydrophytes
   Specialized vegetation (e.g., mangroves, reeds, sedges) adapted to low-oxygen conditions.
4. Ecotone Status
   Act as transition zones between terrestrial and aquatic ecosystems, enhancing ecological productivity and resilience.

Status of Wetlands in India

• Ramsar Network: 98 Ramsar sites (as of February 2026)
• Geographical Coverage: ~5% of India’s land area (≈15.9 million hectares)
• Rate of Loss: Nearly 40% of natural wetlands lost in the last three decades
• Leading State: Tamil Nadu (20 Ramsar sites)

Despite global recognition, ecological degradation remains widespread, even within notified wetlands.

Importance of Wetlands as a Public Good

1. Flood Mitigation

Wetlands act as natural sponges, absorbing excess rainfall and moderating floods.

• Example: Deepor Beel absorbs nearly 40% of Brahmaputra overflow, protecting Guwahati from severe floods.

2. Water Purification

Wetlands naturally filter pollutants such as nutrients, sediments, and heavy metals.

• Example: East Kolkata Wetlands treat ~750 million litres of sewage daily, saving substantial public expenditure.

3. Climate Resilience & Carbon Storage

Wetlands are significant carbon sinks and act as buffers against extreme weather.

• Example: Bhitarkanika Mangroves reduced wind impact during Cyclone Dana (2024), protecting inland habitations.

4. Livelihood Security

Millions depend on wetlands for fisheries, agriculture, fodder, and allied activities.

• Example: Kuttanad supports below-sea-level farming, producing over 6 lakh tonnes of rice annually.

5. Biodiversity Hotspots

Wetlands support nearly 40% of global species, including migratory birds and endemic fauna.

• Example: Chhari-Dhand hosts flamingos and supports breeding of endangered species like the Desert Fox.

2. Miniratna Category-I Status to Yantra India Limited (YIL)

Source: News on Air

Context:

Raksha Mantri Rajnath Singh approved Miniratna Category-I status to Yantra India Limited.

What is Miniratna Status?

Miniratna is a classification accorded to profit-making Central Public Sector Enterprises (CPSEs) to provide enhanced financial and operational autonomy, enabling faster and more competitive decision-making—below Navratna and Maharatna levels.

Historical Background

• Introduced: October 1997
• By: Government of India
• Objective:
  • Decentralise decision-making
  • Empower efficient CPSEs through delegated financial powers
  • Reduce procedural delays and improve commercial efficiency

Types of Miniratna CPSEs

1. Miniratna Category-I – Higher financial and operational autonomy
2. Miniratna Category-II – Moderate autonomy

Eligibility Criteria for Miniratna Status

Common Conditions (Category-I & II)

• Continuous profit in the last 3 years
• Positive net worth
• No default in repayment of Government loans/interest
• No dependence on budgetary support or Government guarantees
• Board restructuring with at least three independent (non-official) directors

Additional Criteria

• Category-I:
  • Pre-tax profit of ₹30 crore or more in at least one of the last three years
• Category-II:
  • Profit in all three years (no minimum profit threshold)

3. Addition of 2 New Wetlands to India’s Ramsar List

Source: TOI

Context:

The Union Environment Minister announced the inclusion of Patna Bird Sanctuary (Uttar Pradesh) and Chhari Dhand Wetland Reserve (Gujarat) in India’s Ramsar List ahead of World Wetlands Day 2026. With this, India now has 98 Ramsar sites, marking a 276% increase since 2014.

What is the Ramsar Convention?

• An international treaty for the conservation and wise use of wetlands
• Adopted in 1971 at Ramsar, Iran
• India became a Contracting Party on 1 February 1982
• Ramsar sites serve as model ecosystems for:
  • Biodiversity conservation
  • Climate resilience
  • Sustainable livelihoods

Newly Designated Ramsar Sites (2026)

1. Patna Bird Sanctuary

What it is

• A protected bird sanctuary and wetland ecosystem
• Also known as Patna Vihar Bird Sanctuary

Location

• Etah district, Uttar Pradesh

Key Facts

• Established: 1991
• Area: 108 hectares (wetland area ~1 km²)
• Smallest bird sanctuary in Uttar Pradesh

Important Avifauna

• Lesser Whistling Duck
• Graylag Goose
• Ruddy Shelduck
• Gadwall
• Eurasian Wigeon
• Northern Pintail

2. Chhari Dhand Wetland Reserve

What it is

• A seasonal desert wetland with unique saline–freshwater interactions

Location

• Kutch district, Gujarat
• Lies between:
  • Banni Grasslands
  • Rann of Kutch

Local Meaning

• Chhari = Salty
• Dhand = Shallow wetland

Key Features

• Becomes swampy during monsoon
• Fed by north-flowing rivers and surrounding hills
• Crucial habitat for migratory birds in monsoon and winter

Endangered & Notable Species

• Dalmatian Pelican
• Oriental Darter
• Black-necked Stork
• Indian Skimmer
• Large congregations of:
  • Flamingos
  • Cranes
  • Painted storks
  • Raptors
  • Spoonbills

4. Motion of Thanks to President’s Address

Source: News on Air

Context:

Both Houses of Parliament discussed the Motion of Thanks following the President’s Address delivered by Droupadi Murmu at the start of the Budget Session.

What is the Motion of Thanks?

• A formal resolution moved in both Houses of Parliament to express gratitude to the President for the Special Address to a joint sitting of Parliament.
• The Address is delivered:
  • At the beginning of each year’s first session, and
  • After a general election.
• It provides Parliament an opportunity to debate, critique, and assess the policies and programmes of the Government outlined in the Address.

Origin and Background

• Rooted in the Westminster parliamentary tradition, adapted to India’s constitutional framework.
• The President’s Address is essentially the Government’s policy statement, drafted by the Council of Ministers and approved by the Cabinet.
• No direct discussion takes place on the Address itself; discussion is enabled only through the Motion of Thanks.

Constitutional Provisions

• Article 86(1): Empowers the President to address either House or both Houses assembled together.
• Article 87(1): Mandates a Special Address by the President:
  • At the commencement of the first session after a general election, and
  • At the commencement of the first session of every year.
• Article 87(2): Requires Parliament to frame rules for discussion on matters referred to in the Address—implemented via the Motion of Thanks.

5. IOM Global Appeal 2026 Report

Source: International Organization for Migration

Context:

IOM has sought USD 4.7 billion to assist 41 million people globally in 2026, signalling sharper prioritisation amid a Humanitarian Reset and a constrained global funding environment.

What is the IOM Global Appeal 2026?

• The Global Appeal 2026 is IOM’s operational and financing blueprint, aligned with its Strategic Plan 2024–2028.
• It aims to:
  • Deliver life-saving humanitarian assistance
  • Advance durable solutions to displacement
  • Facilitate safe, orderly, and regular migration pathways
  • Support vulnerable populations across migration corridors

Key Findings & Trends

• Record Internal Displacement: 83.4 million internally displaced persons (end-2024) — highest on record.
• Climate Acceleration: Disaster-related displacement rose to 9.8 million (2024) — +29% YoY.
• Deadliest Year for Migrants: ≥9,197 deaths (2024) — highest since 2014.
• Remittances: USD 905 billion (2024) — critical macroeconomic lifeline for many countries.
• Narrow Regular Pathways: <20% of assessed countries have programmes for regular labour migration.
• Workforce Indispensability: 168 million migrant workers globally, vital in healthcare, care economy, innovation.
• Funding Gap: Of USD 4.7 bn required, USD 1.3 bn secured → USD 3.4 bn shortfall.

Reasons for Migration

1. Economic Opportunity: Labour shortages and innovation pull (168 million workers).
2. Conflict & Violence: Protracted crises (e.g., Sudan, DR Congo).
3. Environmental Degradation: Climate shocks and extreme weather.
4. Protracted Displacement: Long stays erode local coping capacity, prompting onward movement.
5. Inequality & Hardship: Push toward risky, irregular routes in search of dignity.

Key Challenges Highlighted

• Social Security Deficits: Insecure jobs; limited access to welfare/health systems.
  • India example: Despite eShram, many urban migrants struggle to access state-specific benefits.
• Hazardous Living Conditions: Informal settlements; poor WASH outcomes.
  • India example: Overcrowding in Dharavi (Mumbai) affects water and waste services.
• Exploitation & Low Wages: Weak legal protection; unsafe worksites; wage theft.
  • India example: Seasonal construction labour from Bihar/UP.
• Restrictive Global Policies: Narrower admission rules.
  • Example: H-1B changes (2025)—higher fees, wage-weighted selection.
• Harmful Narratives & Misinformation: Fuels exclusion and policy tightening.
  • Example: Student and migration caps in UK/Canada (2025).

Way Forward (IOM’s Recommendations)

• Route-Based Approach: Integrated, corridor-wide responses over fragmented actions.
• Enhanced Localization: Empower local/national actors to lead.
• Regular Pathway Expansion: Flexible channels aligned to real labour-market needs.
• Data-Driven Solutions: Scale Displacement Tracking Matrix (DTM) for actionable insights.
• Resilience Funding: Increase flexible, unearmarked funds for agile field operations.

6. Waste-pickers Enumeration under NAMASTE Scheme

Source: TH

Context:

The Union government released nationwide enumeration data of waste-pickers for the first time under the NAMASTE scheme, revealing sharp social stratification within informal urban labour.

What is NAMASTE?

• NAMASTE (National Action for Mechanised Sanitation Ecosystem) is a central initiative aimed at:
  • Eliminating hazardous sanitation work
  • Mechanising sewer/septic tank cleaning
  • Ensuring safety, dignity, and rehabilitation of sanitation workers
• Implemented by the Government of India in partnership with States/UTs and Urban Local Bodies (ULBs).

Key Enumeration Findings

Overall Numbers

• Total waste-pickers enumerated: 52 lakh
• Coverage: 35 States/UTs
• Social composition: 84.5% belong to SC, ST, and OBC communities

Regional Outliers

• General category majority: Delhi and Goa
• West Bengal: 42.4% from the General category

Linked Sanitation Data

• Sewer/Septic tank workers: 91.95% from SC/ST/OBC groups
  → Indicates continuity between waste-picking and hazardous sanitation work along caste lines.

7. Solid Fuel Ducted Ramjet (SFDR) Technology

Source: TH

Context:

The Defence Research and Development Organisation (DRDO) successfully demonstrated Solid Fuel Ducted Ramjet (SFDR) technology from the Integrated Test Range, Chandipur.

What is SFDR Technology?

• SFDR is an air-breathing missile propulsion system that:
  • Uses atmospheric oxygen for combustion
  • Burns solid fuel in a controlled manner
• It provides sustained thrust at supersonic speeds, unlike conventional rockets that burn out early.
• Ensures high energy retention, especially during the terminal phase of missile flight.

How SFDR Works

1. Initial Acceleration
   • A nozzle-less booster accelerates the missile to the required Mach number.
2. Ramjet Takeover
   • At high speed, atmospheric air is ingested and compressed naturally due to forward motion (no rotating compressors).
3. Controlled Combustion
   • Solid fuel burns steadily inside the duct.
   • Combustion is regulated by an indigenous fuel flow control system.
4. Sustained Thrust
   • Continuous thrust keeps the missile fast, stable, and highly manoeuvrable until impact.

Key Features of SFDR

• Air-breathing propulsion
  • No onboard oxidiser → more fuel space and longer range
• Sustained high-speed flight
  • Maintains supersonic velocity throughout flight
• High terminal energy
  • Retains speed in final phase → greater lethality against agile targets
• Enhanced end-game manoeuvrability
  • Continuous thrust allows sharp evasive turns
  • Makes interception by enemy air defence extremely difficult
• Reduced drag & improved range
  • Optimised airflow minimises energy losses
• Indigenous supersonic combustion control
  • Stable fuel-air combustion at high Mach numbers achieved domestically
  • Considered a major technological breakthrough

Applications & Strategic Significance

1. Beyond Visual Range Air-to-Air Missiles (BVRAAMs)

• Enables long-range engagement of enemy aircraft
• Maintains high kill probability at extended distances

2. Air Superiority & BVR Combat Edge

• Allows first-strike capability
• Enhances pilot survivability by enabling safe disengagement

3. Defence Indigenisation

• Reduces dependence on foreign propulsion technologies
• Strengthens Aatmanirbhar Bharat in advanced missile systems

8. Peacocks

Source: TOI

Context:

A pair of peacocks was spotted at over 6,000 ft (~1,800 m) near Manali in Himachal Pradesh, an ecologically unusual altitude for a species typically associated with warmer lowland regions.

What are Peacocks?

• Peacocks are large, colourful birds of the pheasant family (Phasianidae).
• Collectively called peafowl:
  • Male: Peacock
  • Female: Peahen
  • Young: Peachicks
• India’s national bird is the Indian / Blue Peacock (Pavo cristatus).

Habitat & Distribution

• Natural habitats:
  • Warm semi-arid to moist deciduous forests
  • Grasslands and agricultural landscapes
• Indian distribution:
  • Mostly plains and low hills
• Typical altitude range:
  • Up to ~1,000 m
  • Occasionally up to ~1,500 m
• Why the Manali sighting is unusual:
  • Recent observation at ~1,800 m (6,000 ft) exceeds the species’ normal altitudinal range
  • Suggests behavioural flexibility, habitat expansion, or climate-linked shifts

IUCN Conservation Status

• Indian (Blue) Peacock (Pavo cristatus): Least Concern
• Green (Javanese) Peacock (Pavo muticus): Endangered
• Congo Peacock (Afropavo congensis): Vulnerable

9. Turtle Trails

Context:

The Union Budget 2026–27 proposed developing ‘turtle trails’ along key Olive Ridley nesting sites in Odisha, Karnataka, and Kerala to promote eco-tourism with conservation safeguards.

What are Turtle Trails?

• Turtle trails are regulated eco-tourism pathways and guided experiences near sea turtle nesting beaches.
• Objectives:
  • Conservation awareness and protection of nesting habitats
  • Community livelihoods through nature-based tourism
  • Low-impact tourism aligned with sustainability principles

States & Locations Involved

• Odisha
  • Rushikulya
  • Vicinity of Gahirmatha
• Karnataka
  • Coastal turtle nesting beaches along the Arabian Sea
• Kerala
  • Key nesting stretches along the Arabian Sea coast

Key Features of Turtle Trails

• Guided & regulated access
  • Entry limited by time/season (typically breeding season)
  • Trained guides to prevent disturbance to turtles and nests
• Awareness & education
  • Interpretation on marine biodiversity, turtle life cycles, threats
• Community participation
  • Involvement of local fishers, volunteers, self-help groups, NGOs
• Low-impact infrastructure
  • Temporary walkways, observation zones (as proposed)
  • Minimal lighting and noise to avoid hatchling disorientation
• Policy integration
  • Aligned with eco-tourism policies, livelihood generation, and sustainable tourism goals

10. AYUSH Ministry to Invite Proposals for New Ayurveda Institutes

Source: The Hindu

Context:

The Union Minister of State for AYUSH, Prataprao Jadhav, announced that the Ministry of AYUSH will soon invite proposals from States to establish three new All India Institutes of Ayurveda (AIIAs), as announced in the Union Budget 2026–27.

The move signals a strategic expansion of Ayurveda-based tertiary healthcare, education, and research infrastructure across India.

What are All India Institutes of Ayurveda (AIIAs)?

• AIIAs are apex institutions for Ayurveda, on the lines of AIIMS in allopathic medicine
• Mandate includes:
  • High-quality undergraduate and postgraduate education
  • Advanced research in Ayurveda and integrative medicine
  • Tertiary-level healthcare services
  • Standard-setting for Ayurveda education and practice

They function as centres of excellence to modernise and mainstream Ayurveda.

Key Budgetary and Policy Signals

1Increased Budget Allocation for AYUSH

• AYUSH Budget 2025–26 (RE): ₹3,671.82 crore
• AYUSH Budget 2026–27 (BE): ₹4,408.93 crore
• Increase: ~10%

This increase reflects the government’s intent to:

• Strengthen traditional systems of medicine
• Integrate AYUSH with mainstream healthcare delivery
• Build skilled human resources

11. Members of Parliament Local Area Development Scheme (MPLADS)

Context:

The Members of Parliament Local Area Development Scheme (MPLADS), launched in December 1993, has once again come under scrutiny following allegations of misuse by some Members of Parliament.

MPLADS is a Central Sector Scheme, fully funded by the Government of India, that allows MPs to recommend developmental works worth ₹5 crore annually, primarily for creating durable community assets such as roads, schools, drinking water facilities, and health infrastructure.

MPLADS Funds (Members of Parliament Local Area Development Scheme)

• MPLADS is a Central Sector Scheme that enables Members of Parliament to recommend developmental works in their constituencies with an emphasis on creation of durable community assets.
• Introduced in 1993.

Key Features

Annual Allocation

• ₹5 crore per MP per year
  • Applicable to Lok Sabha MPs
  • Rajya Sabha MPs can recommend works anywhere in the State/UT they represent
  • Nominated MPs can recommend works anywhere in the country

Nature of Works

• Creation of durable assets such as:
  • Drinking water facilities
  • Roads, bridges, culverts
  • School buildings, toilets
  • Health infrastructure
  • Community halls
• No private or individual assets allowed.

12. Pennaiyar River

Context:

The Supreme Court of India directed the Union Government to constitute an Inter-State River Water Disputes Tribunal within one month to resolve the Pennaiyar water dispute between Tamil Nadu and Karnataka.
The suit was filed by Tamil Nadu under Article 131 invoking the Inter-State River Water Disputes Act, 1956.

What is the Pennaiyar River?

• An east-flowing inter-state river of southern India
• Known as:
  • Thenpennai / Ponnaiyar (Tamil)
  • Dakshina Pinakini (Kannada)
• Crucial for irrigation, industry, and drinking water security, especially in Tamil Nadu

Origin

• Originates in the Nandi Hills
• Located in Chikkaballapura district, Karnataka
• Part of the Eastern Ghats river system
  (Important prelims trap: not a Western Ghats river)

States Covered

• Karnataka – Upper riparian state
• Tamil Nadu – Lower riparian state

Banking/Finance

1.16th Finance Commission (2026–31)

Why in News?

The 16th Finance Commission report was tabled in Parliament of India on 1 February 2026 by Finance Minister Nirmala Sitharaman, alongside the Union Budget.
The government accepted the key recommendation to retain States’ share in central taxes at 41% for 2026–31.

I. Vertical Devolution (Centre → States)

• States’ Share: 41% of the divisible pool (unchanged from the 15th FC).
• Divisible Pool: Centre’s gross tax revenue minus cesses, surcharges, and cost of collection.
• Impact: Stability and predictability in transfers; reinforces fiscal federalism.

II. Horizontal Devolution (Among States)

Recalibrated formula with revised weights and a new parameter.

Devolution Criteria: 15th FC vs 16th FC

Criteria	15th FC	16th FC	Key Change
Income Distance	45%	42.5%	Slight reduction
Population (2011)	15%	17.5%	Increased
Demographic Performance	12.5%	10%	Redefined
Area	15%	10%	Reduced
Forest & Ecology	10%	10%	Expanded scope
Tax Effort	2.5%	0%	Dropped
Contribution to GDP	0%	10%	New
Total	100%	100%

Key Changes Explained

• Income Distance: Gap in per-capita GSDP vis-à-vis top-3 states (avg. 2018-19 & 2023-24; 2020-21 excluded).
• Contribution to GDP (10%): Rewards economic size using √GSDP (balances scale without overpowering).
• Forest & Ecology: Includes open forests and increase in forest cover (2015–23).
• Demographic Performance: Shift from TFR to population growth (1971–2011).
• Tax Effort: Removed.

III. Grants-in-Aid (Total: ₹9.47 lakh crore)

Streamlining: Revenue-deficit, sector-specific, and state-specific grants discontinued.

A. Local Body Grants (₹7,91,493 crore)

• Rural: ₹4.35 lakh crore
• Urban: ₹3.56 lakh crore
• Structure: 80% Basic (of which 50% tied to water & sanitation) + 20% Performance
• New Urban Components:
  • Special Infrastructure Grant (₹56,100 cr): Wastewater management (cities 10–40 lakh population)
  • Urbanisation Premium (₹10,000 cr): One-time support for peri-urban mergers and rural-urban transition policies
• Conditionalities: Timely State Finance Commissions, audited accounts, proper constitution of local bodies.

B. Disaster Management Grants (₹1,55,916 crore)

• For SDRF/SDMF.
• Cost Sharing:
  • 90:10 (NE & Himalayan states)
  • 75:25 (others)

IV. Fiscal Roadmap & Debt Management

• Centre FD: Reduce to 3.5% of GDP by 2030–31.
• States FD: Cap at 3% of GSDP.
• Off-Budget Borrowings: Discontinue; bring fully on-budget; uniform debt definition.
• Combined Debt: Projected to fall 77.3% (2026-27) → 73.1% (2030-31).

V. Power Sector Reforms

• DISCOM Privatisation: Actively pursue.
• SPV: Warehouse existing DISCOM debt.
• Conditional Central Aid: Access to Special Assistance for Capital Investment only post-privatisation.

VI. Subsidy Rationalisation

• Review and better targeting with clear exclusion criteria.
• Move away from unconditional cash transfers.
• No off-budget financing of subsidies.
• Uniform accounting & disclosure across states.

VII. State Public Sector Enterprise (SPSE) Reforms

• Review/close 308 inactive SPSEs.
• State-level disinvestment policy for underperformers.
• Loss-making SPSEs (losses in 3 of 4 years) to go to Cabinet for closure/privatisation/strategic continuation.

2. SBI launches ‘CHAKRA’ Centre of Excellence

Source: TH

Context:

State Bank of India has launched ‘CHAKRA’, a dedicated Centre of Excellence (CoE) to strengthen financing for eight critical sunrise sectors.

What is CHAKRA?

CHAKRA (Centre of Excellence) is a knowledge-led institutional platform created by SBI to enhance its capability to finance capital-intensive, technology-driven sunrise sectors by integrating:

• Sectoral expertise
• Advanced risk assessment
• Innovative and policy-aligned financing models

Aim

• Build institutional expertise in emerging, technology-led sectors
• Improve the flow of domestic and international debt capital into sunrise industries
• Develop innovative financing structures aligned with national policy priorities

3. Centre Tops Up RDI Fund with ₹20,000 Crore

Source: Business Standard

Context:

In the Union Budget 2026–27, Finance Minister Nirmala Sitharaman announced a ₹20,000 crore top-up to the Research, Development and Innovation (RDI) Fund, continuing last year’s allocation and reaffirming the government’s commitment to building a strong domestic R&D and deep-tech ecosystem.

The RDI Fund is the largest component of the ₹23,125 crore earmarked for Central Sector schemes under the Ministry of Science and Technology.

What Is the RDI Fund?

• Total Fund Size: ₹1 trillion
• Deployment Period: 7 years (Cabinet-approved)
• Objective:
  • Support long-gestation, high-risk R&D
  • Promote indigenous product innovation
  • Crowd-in private capital into deep-tech and frontier research
• Launch: November 2025 by Narendra Modi

4. From UPI to CBDCs: India Sets Digital Payments Agenda at BRICS

Source: ET

Context:

During its BRICS presidency, India is expected to push for seamless cross-border digital payments among member countries using Central Bank Digital Currencies (CBDCs). This initiative builds on earlier BRICS commitments to interoperability of payment systems and reflects India’s growing leadership in Digital Public Infrastructure (DPI).

India will host the BRICS Summit later this year, providing a strategic platform to advance this agenda.

About BRICS

BRICS is a 10-member grouping that includes:

• Brazil
• Russia
• India
• China
• South Africa
• Along with newly inducted members (expansion phase)

The grouping aims to enhance economic cooperation, financial resilience, and South–South collaboration.

What Is India Proposing?

1. Cross-Border CBDC Payments

• Promote interoperable CBDC-based settlement systems among BRICS central banks.
• Enable direct, faster, cheaper, and secure cross-border transactions without relying on correspondent banking.

2. Payment System Interoperability

• Build on the 2025 BRICS declaration, which supported interoperability among national payment systems.
• Align technology, regulatory standards, cybersecurity protocols, and settlement mechanisms.

3. Reducing Dependence on Traditional Systems

• Lower reliance on:
  • SWIFT
  • Dollar-dominated settlement channels
• Enhance financial sovereignty of Global South economies.

Why CBDCs, Not Stablecoins?

RBI Governor Sanjay Malhotra, speaking in Washington DC (Nov 2025), stressed:

• CBDCs are:
  • Sovereign-backed
  • Regulated
  • Less prone to volatility and regulatory arbitrage
• Stablecoins:
  • Often privately issued
  • Pose risks to monetary sovereignty and financial stability

4. SBI launches CHAKRA

Source: TH

Why in news?

State Bank of India (SBI) has launched CHAKRA, a Centre of Excellence (CoE) to support financing of sunrise sectors, with a potential investment of ₹100 trillion over the next five years.

What is CHAKRA?

• CHAKRA is a dedicated Centre of Excellence for financing sunrise sectors.
• It aims to strengthen project financing, co-financing, risk assessment, and patient capital structures.
• The initiative builds on SBI’s earlier Centre of Excellence for MSMEs at the State Bank Academy.

Key Sunrise Sectors Covered

• Renewable energy
• Advanced cell chemistry & battery storage
• Semiconductors
• Electric mobility & decarbonisation
• Smart infrastructure
• Data centre infrastructure

Institutional Partnerships

• SBI has signed MoUs with 21 financial institutions.
• Includes:
  • Japanese banks such as SMBC and MUFG
  • Indian institutions like PFC, REC, and NaBFID
• Discussions ongoing with European and American banks.
• Objective: Co-financing, capacity building, and risk sharing.

Rationale Behind CHAKRA

• Sunrise sectors involve high capital needs and new technology risks.
• Cannot rely solely on deposit-funded bank lending.
• Need for patient capital and participation from:
  • Banks
  • NBFCs
  • Development finance institutions
  • Global investors

Functions of CHAKRA

• Preparation of white papers and sector reports
• Industry roundtables and policy dialogues
• Structured engagement with:
  • Multilateral agencies
  • Start-ups and corporates
  • Academia and think tanks

5. SEBI Likely to Extend Ban on Agricultural Futures

Source: Economic Times

Context:

The market regulator Securities and Exchange Board of India (SEBI) is likely to extend the ban on futures trading in key agricultural commodities by another year, beyond its scheduled end in March 2026.

The ban, first imposed in 2021, aims to curb price volatility, speculation, and food inflation, especially in essential commodities that directly affect household consumption.

Agricultural Commodities Under the Ban

Futures trading remains suspended in seven major agri-commodities:

1. Non-basmati paddy
2. Wheat
3. Chana (gram)
4. Mustard seed and its derivatives
5. Soybean and its derivatives
6. Crude palm oil
7. Moong (green gram)

These commodities form a significant part of India’s food basket, making their price stability a political and economic priority.

What are Agricultural Commodities?

Agricultural commodities are primary goods produced through agriculture and allied activities that are standardised, produced in bulk, and traded in markets (spot and derivatives).

Key Features

• Derived from farming, livestock, fisheries, or plantations
• Homogeneous/standardised, enabling large-scale trade
• Prices influenced by demand–supply, weather, global markets, and policy
• Traded in mandis and commodity exchanges

Major Categories

1. Food crops: Wheat, rice, maize
2. Pulses: Chana, moong, urad
3. Oilseeds: Soybean, mustard, groundnut
4. Commercial crops: Cotton, sugarcane, tea, coffee
5. Livestock products: Milk, meat, eggs

6. RBI Proposes Resolution Framework for Borrowers Affected by Natural Calamities

Source: BS

Why in news?

Reserve Bank of India (RBI) has issued draft guidelines proposing a principle-based framework for banks and other regulated entities to implement resolution plans for borrowers impacted by natural calamities.

What has RBI proposed?

• A principle-based resolution regime giving full discretion to regulated entities (REs) in designing and implementing resolution plans.
• Banks must anticipate climate and disaster-related risks and incorporate relief and resolution measures within their credit policies.

Key Features of the Draft Guidelines

• Eligibility:
  • Borrowers who have not defaulted for more than 30 days.
• Possible Resolution Measures:
  • Rescheduling of loan repayments
  • Granting of moratorium
  • Conversion of accrued interest into a separate credit facility
  • Sanction of additional finance to address borrower stress
• Applicability:
  • Banks and all RBI-regulated entities
• Implementation date:
  • April 1
• Public consultation:
  • Feedback invited till February 17

Objectives of the Guidelines

• Enhance financial resilience of borrowers affected by natural disasters
• Prevent sudden loan slippages and NPAs
• Integrate climate risk considerations into banking regulation
• Support orderly credit resolution without compromising prudential discipline

Agriculture

1. Trees Outside Forests (TOF) / Agroforestry in India

Source: BS

Why in news?

A report to be presented at the first South Asian Agroforestry and Trees Outside Forests Congress (TREESCAPES) highlights that India can unlock the full economic, social and environmental potential of Trees Outside Forests (TOF) by focusing on four high-growth industries.

What are Trees Outside Forests (TOF)?

• TOF refers to trees growing outside notified forest areas, including:
  • Agroforestry systems
  • Farm boundary plantations
  • Trees on private, community and urban lands
• TOF is commonly associated with agroforestry in agricultural landscapes.

Status of TOF in India

• TOF cover: ~29.38 million hectares
• Accounts for 36.4% of India’s total forest and tree cover
• Major TOF species:
  • Mango, neem, babool, coconut, palash
  • Teak, ber, eucalyptus, rubber, katha
• These species account for ~40% of trees in rural India

Environmental & Social Benefits

• Reduces pressure on natural forests
• Enhances farm productivity and rural incomes
• Improves food, timber and non-timber supply
• Provides ecosystem services:
  • Carbon sequestration
  • Climate regulation
  • Clean air and water
  • Biodiversity habitats

2. Budget 2026-27: Plantations & Fisheries Central to Farm Income Strategy

Source: BS

Why in news?

The Union Budget 2026–27 has shifted focus from core food crops to allied sectors of agriculture, particularly plantations, livestock, and fisheries, as a strategy to raise farmers’ incomes through high-value agriculture.

Overall Allocation

• Allocation for agriculture and allied activities projected to grow by 7.1% in BE FY27 over RE FY26.
• This comes despite a 4.4% decline in overall sector spending in RE FY26 compared to BE FY26.
• Indicates reprioritisation within agriculture, rather than expansion of traditional crop subsidies.

Key Focus Areas

1. High-value Plantation Crops

Support announced for:

• Coconut
• Cocoa
• Cashew
• Sandalwood
• Agarwood (Northeast)
• Almonds, walnuts, pine nuts (hilly regions)

Special measures

• Coconut promotion scheme for southern states
  • Coconut supports ~30 million people, including ~10 million growers.
• Plan to make Indian cashew and cocoa premium global brands by 2030.
• Partnership with states to revive Indian sandalwood.

2. Fisheries & Aquaculture

• Proposal for integrated development of 500 reservoirs and Amrit Sarovars.
• Aim: Strengthen fisheries value chains, especially in coastal areas.
• Budget allocation for fisheries increased by nearly 60% (BE FY27 over RE FY26).

3. Livestock & Animal Husbandry

• Livestock contributes ~16% of farm income, especially for marginal farmers.
• Key announcements by Nirmala Sitharaman:
  • Loan-linked capital subsidy for:
    • Veterinary & para-vet colleges
    • Veterinary hospitals & diagnostic labs
    • Breeding facilities (private sector)
  • Target: 20,000+ additional veterinary professionals
  • Encourage livestock Farmer Producer Organisations (FPOs)
• Department of Animal Husbandry allocation up by 16% (BE FY27 over RE FY26).

4. Digital & Knowledge Initiatives

• Bharat-VISTAAR (₹150 crore):
  • Multilingual AI-based tool
  • Integrates AgriStack portals with Indian Council of Agricultural Research advisory packages.
• High-value agriculture mission: ₹350 crore.

Facts To Remember

1. Lupin launches generic cancer drug in U.S.

Lupin has launched generic cancer drug Dasatinib Tablets, in multiple strengths, in the U.S. The product, bioequivalent to Bristol-Myers Squibb Company’s Sprycel Tablets, was developed by Lupin in partnership with Pharmascience Inc. 

2. Wings India 2026 Held in Hyderabad

Asia’s largest civil aviation event, Wings India 2026, was held from 28–31 January 2026 at Begumpet Airport, Hyderabad. Inaugurated by Union Civil Aviation Minister Ram Mohan Naidu, it showcased India’s rise as the world’s 3rd-largest domestic aviation market.

3. Gujarat Becomes India’s Largest Renewable Energy Contributor

Gujarat emerged as the top contributor to India’s renewable energy capacity with 42.583 GW as of December 2025. The state leads in wind power, rooftop solar installations, and supports India’s net-zero target for 2070.

4. MHA Mandates Central Deputation for IPS IGP Posting

The Ministry of Home Affairs mandated a minimum two-year Central Deputation for IPS officers to be eligible for IGP-level posts. The move aims to strengthen leadership capacity in CAPFs and Central Police Organisations.

5. CCRAS–Berhampur University MoU on Ayurvedic Manuscripts

CCRAS signed a two-year MoU with Berhampur University to digitize and preserve rare Ayurvedic palm-leaf manuscripts. The initiative focuses on safeguarding traditional knowledge using modern technology.

6. SAIL Launches ‘SAIL-e-BRATION’ Creative Challenge

SAIL launched the SAIL-e-BRATION national challenge to highlight steel’s role in nation-building. Citizens are encouraged to submit creative digital content showcasing SAIL’s contribution to everyday life.

7. GoI Withdraws 18% Excise Duty on Unmanufactured Tobacco

The Government of India withdrew the 18% excise duty on unbranded, non-retail packed unmanufactured tobacco from February 1, 2026. The decision provides relief to farmers and small-scale suppliers.

8. Matrixport Gets In-Principle Approval in Bhutan

Matrixport received in-principle approval to offer regulated financial services in Gelephu Mindfulness City, Bhutan. Operations will commence after meeting all licensing and compliance requirements.

9. Central Bank of India Partners with HSBC AMC

Central Bank of India partnered with HSBC Asset Management India to distribute mutual fund products. The collaboration enhances investment and wealth management options for customers.

10. 68th Grammy Awards 2026 Highlights

The 14th Dalai Lama won his first Grammy, while Bad Bunny secured Album of the Year for a Spanish-language album. The awards reflected growing global diversity in music recognition.

11. Sunetra Pawar Becomes Deputy CM of Maharashtra

Sunetra Pawar was sworn in as Maharashtra’s first woman Deputy Chief Minister on January 31, 2026. She must enter the state legislature within six months to continue in office.

12. Australian Open 2026 Champions

Carlos Alcaraz and Elena Rybakina won the men’s and women’s singles titles at the Australian Open 2026. Alcaraz became the youngest man in the Open Era to complete a career Grand Slam.

13. Devika Sihag Wins Thailand Masters 2026

Indian shuttler Devika Sihag won her maiden BWF Super 300 title at the Thailand Masters 2026. She became the third Indian woman to achieve this milestone.

14. Indian Coast Guard Day 2026 – February 1

Indian Coast Guard Day commemorates the establishment of the ICG and its role in maritime security. The year 2026 marked the 50th Raising Day of the force.

15. World Wetlands Day 2026 – February 2

World Wetlands Day is observed to raise awareness about the ecological importance of wetlands. The 2026 theme highlighted the role of traditional knowledge in wetland conservation.

16. India Hosts 2nd India–Arab Foreign Ministers’ Meeting

India hosted the 2nd India–Arab Foreign Ministers’ Meeting in New Delhi after a gap of nearly 10 years. The meeting adopted the New Delhi Declaration, strengthening India–Arab League cooperation on regional and global issues.

17. NSO to Conduct Nationwide Migration Survey (2026–27)

The National Statistics Office announced a comprehensive migration survey from July 2026 to June 2027. It will generate updated data on migration patterns, labour mobility, employment, and remittance flows.

18. IHMCL–NFSU MoU on Cybersecurity in Highway Operations

IHMCL signed a three-year MoU with NFSU to enhance cybersecurity and data protection in national highway operations. The collaboration will support advanced forensics, secure imaging, and intelligent traffic systems.

19. MeitY Signs e-Signature Cooperation Pact with EU

MeitY and the EU’s DG CONNECT signed an agreement on advanced electronic signatures and seals. The pact enables cross-border digital signing, boosting trust and digital trade, especially for MSMEs.

20. MoPA Launches Upgraded Youth Parliament Portal ‘NYPS 2.0’

The Ministry of Parliamentary Affairs launched NYPS 2.0 to expand participation in the Youth Parliament programme. The upgrade allows institutions, groups, and individuals from remote areas to participate inclusively.

21. World Bank Approves USD 830 Million Loan for PM-SETU

The World Bank approved a USD 830 million loan to upgrade India’s ITIs under the PM-SETU programme. The initiative aims to align skill training with industry needs and generate over one million skilled workers annually.

22. PNB Launches ‘LUXURA Metal Credit Card’

Punjab National Bank launched the LUXURA Metal Credit Card on the Visa Infinite platform. The premium card offers luxury travel, lifestyle benefits, concierge services, and accelerated reward points.

23. Tripura Gramin Bank Launches First RRB Co-Branded RuPay Credit Card

Tripura Gramin Bank, with PNB, launched India’s first RRB co-branded RuPay credit card. The initiative enhances digital credit access for rural and semi-urban customers.

24. Yantra India Gets Miniratna Category-I Status

Defence Minister Rajnath Singh approved Miniratna Category-I status for Yantra India Limited. The status grants greater financial autonomy and strengthens indigenous defence manufacturing.

25. Kabak Yano Summits Mount Aconcagua

Arunachal Pradesh mountaineer Kabak Yano successfully scaled Mount Aconcagua in Argentina. She became the first woman from the Nyishi community to achieve this milestone.

26. Climate Scientist Veerabhadran Ramanathan Wins Crafoord Prize 2026

Indian-origin scientist Veerabhadran Ramanathan won the 2026 Crafoord Prize in Geosciences. He was honoured for pioneering research on aerosols, super-pollutants, and climate change.

27. World Cancer Day 2026 – February 4

World Cancer Day was observed globally to promote cancer awareness, prevention, and equitable treatment. The 2026 theme “United by Unique” emphasised patient-centred cancer care.

28. International Day of Human Fraternity 2026 – February 4

The UN observed the International Day of Human Fraternity to promote peace, tolerance, and interfaith harmony. The day coincided with World Interfaith Harmony Week.

29. Andhra Pradesh Launches ‘Pilloo AI’ for MSMEs

Andhra Pradesh CM N. Chandrababu Naidu launched Pilloo AI, a voice-based billing and accounting platform. The tool supports MSMEs by enabling easy accounting in multiple Indian languages.

Daily Current Affairs Quiz
05 & 06 February, 2026

National Affairs

1. India–USA Trade Deal 2026

Source: TOI

Why in news?

India and the United States concluded a landmark bilateral trade deal in February 2026, sharply reducing tariffs and ending a phase of intense trade friction. The agreement was jointly announced by Donald Trump and the Prime Minister of India, signalling a strategic economic reset.

What is the India–USA Trade Deal 2026?

• A reciprocal, strategic trade agreement aimed at:
  • De-escalating the trade war that escalated in late 2025
  • Restoring market access for Indian exports
  • Securing long-term energy and commodity commitments for the US
• It combines trade liberalisation with geopolitical and energy realignments.

Key Features of the Deal

1. Tariff Rationalisation

• US tariffs on Indian goods cut from a peak of 50% to 18%.
• India now enjoys preferential tariff treatment compared to competitors like Vietnam, Bangladesh and Pakistan (19–20%).

2. Removal of Punitive Duties

• The additional 25% penalty imposed over India’s Russian oil imports has been withdrawn.

3. Energy & Commodity Pivot

• India to significantly reduce / halt Russian oil imports.
• Shift in sourcing towards:
  • US energy exports
  • Potentially Venezuela
• $500 billion purchase commitment by India (multi-year) covering:
  • Energy
  • Agriculture
  • Coal
  • Technology products

4. Reciprocal Market Access

• India to progressively reduce tariffs and non-tariff barriers on US industrial goods, moving towards near-zero duties in selected sectors.

5. Sectoral Safeguards

• Sensitive sectors excluded, notably:
  • Dairy
  • Staple agricultural crops
• Protects domestic farmers and food security.

6. Technology & Nuclear Cooperation

• Leveraging India’s SHANTI Act, 2025, the deal:
  • Expands US access to India’s civil nuclear energy sector
  • Encourages US investment in data centres and digital infrastructure

2. Denotified Tribes Seek Constitutional Recognition, Separate Census Entry

Source: TH

Why in news?

Denotified Tribes (DNTs), Nomadic Tribes (NTs) and Semi-Nomadic Tribes (SNTs) across India have demanded a separate column in the 2027 caste Census and constitutional recognition through a distinct Schedule, arguing that they are politically and administratively misclassified within existing SC, ST and OBC categories.

Who are Denotified, Nomadic and Semi-Nomadic Tribes?

• These communities were historically branded as “criminal tribes” under the Criminal Tribes Act, 1871, a colonial law.
• The Act was repealed in 1952, after which these groups came to be known as Denotified Tribes.
• Many remain highly mobile, landless and socially excluded.

Key Demands

1. Separate column/code in Census 2027
   • To ensure accurate enumeration and visibility.
2. Constitutional recognition
   • Inclusion in a separate Schedule, on par with SCs and STs.
3. Sub-classification
   • Recognition of graded backwardness within DNT/NT/SNT groups.
   • Inspired by a 2024 Supreme Court judgment allowing sub-classification within SCs and STs.
4. Proper community certificates
   • To enable access to welfare schemes.

3. SabhaSaar Initiative

Source: PIB

Why in news?

The SabhaSaar Initiative has seen rapid adoption, with over 1.11 lakh Gram Panchayats using the AI-enabled platform for automated summarisation of Gram Sabha meetings as of January 2026, marking a major milestone in digital local governance.

What is the SabhaSaar Initiative?

SabhaSaar is an AI-powered voice-to-text and meeting summarisation platform that automatically generates structured Minutes of Meetings (MoM) from Gram Sabha and Panchayat meeting recordings.

• Launched on: 14 August 2025
• Nature: Digital public governance tool for grassroots democracy

Institutional Framework

• Nodal Ministry: Ministry of Panchayati Raj
• Technology Backbone:IndiaAI Mission under MeitY
  • Provides AI models, cloud infrastructure, and computational support

Objective

• Strengthen participatory democracy at the grassroots
• Improve transparency and accountability of Gram Sabha decisions
• Enhance efficiency and standardisation in Panchayat documentation
• Reduce manual burden on Panchayat officials

4. Disaster Victim Identification (DVI) Guidelines

Source: IE

Why in news?

India has released its first-ever national guidelines and Standard Operating Procedures (SOPs) for Disaster Victim Identification (DVI) to address long-standing gaps in the identification of victims in mass fatality disasters, ensuring scientific accuracy, legal certainty, and humane treatment of families.

What is Disaster Victim Identification (DVI)?

Disaster Victim Identification (DVI) is a scientific, structured and multidisciplinary process used to identify deceased persons in mass fatality incidents, such as:

• Air and rail crashes
• Earthquakes, floods, landslides
• Fires and industrial accidents
• Terror attacks and explosions

The process culminates in the dignified and lawful handover of remains to families.

Institutions Involved

• National Disaster Management Authority (NDMA) – Nodal agency issuing the guidelines
• National Forensic Sciences University (NFSU) – Technical and forensic expertise
• State police, health departments, forensic labs, emergency responders
• Guidelines aligned with INTERPOL’s global DVI framework

Aims of the DVI Guidelines

• Ensure accurate and error-free identification of victims
• Enable legal certification of death
• Provide timely, dignified closure to families
• Establish a uniform national protocol for mass fatality management
• Integrate modern forensic science and digital tools into disaster response

5. The International Space Station (ISS)

Source: ET

Why in news?

The International Space Station (ISS) is slated for controlled de-orbiting around 2030, marking the planned end of the longest continuous human presence in low Earth orbit (LEO) and a transition toward commercially operated space stations.

What is the ISS?

• A permanently crewed, modular space laboratory in low Earth orbit (~400 km).
• Dedicated to microgravity research, technology demonstrations, and long-duration human spaceflight studies.
• Continuous human habitation since November 2000.

Who Operates the ISS?

A five-agency international partnership:

• NASA (USA)
• Roscosmos
• European Space Agency
• Japan Aerospace Exploration Agency
• Canadian Space Agency

Governance model: Shared responsibilities—each partner maintains the hardware it provides; operations rely on tight interdependence.

Aims & Roles

• Science: Fundamental research in biology, medicine, materials, fluid physics, and Earth/space science under microgravity.
• Exploration readiness: Testing life-support, radiation mitigation, human factors, and operations for missions beyond LEO (Moon/Mars).
• Cooperation: A flagship of peaceful international collaboration.
• LEO economy: A platform for commercial payloads, private astronauts, and technology validation.

Key Features

• Modular architecture: Dozens of modules assembled in orbit over years.
• Human-tended laboratory: Continuous experimentation since 2000.
• Global integration: Power, thermal control, guidance, and data systems function as a single, integrated station.
• End-of-life plan: A U.S. Deorbit Vehicle will guide a controlled re-entry, minimizing risk to populated areas.

6. Tripartite Agreement for Creation of the Frontier Nagaland Territorial Authority (FNTA)

Source: PIB

Why in news?

A tripartite agreement has been signed between the Government of India, the Government of Nagaland, and the Eastern Nagaland People’s Organisation (ENPO) to establish the Frontier Nagaland Territorial Authority (FNTA)—granting enhanced autonomy to six eastern districts of Nagaland.

What is the FNTA?

• An autonomous territorial governance structure within Nagaland (not a separate State).
• Designed to provide administrative, financial, and developmental autonomy to historically underdeveloped eastern districts.
• Represents a negotiated, democratic alternative to demands for separate statehood.

Districts Covered

• Tuensang
• Mon
• Kiphire
• Longleng
• Noklak
• Shamator

Aims of the Agreement

• Address long-standing political, economic, and developmental grievances of Eastern Nagaland.
• Enable local decision-making and equitable development.
• Strengthen peace, stability, and cooperative federalism in the North-East.

Key Features

1) Creation of FNTA

• Establishes a new territorial authority with functional autonomy for the six districts.

2) Devolution of Powers

• 46 subjects devolved to FNTA, enabling tailored planning and implementation (e.g., local development, infrastructure, social sectors).

3) Financial Autonomy

• Fixed annual allocation from the Centre.
• Development outlay shared proportionate to population and area.
• Initial establishment costs borne by the Union Ministry of Home Affairs.

4) Administrative Structure

• A mini-Secretariat for FNTA.
• Headed by an Additional Chief Secretary / Principal Secretary–level officer to ensure administrative capacity and coordination.

7. India Joins BRICS Centre for Industrial Competencies

Source: News on Air

Why in news?

India has joined the BRICS Centre for Industrial Competencies (BCIC) to strengthen cooperation in manufacturing, MSME development, and Industry 4.0 adoption across BRICS and BRICS Plus countries.
The National Productivity Council (NPC) has been designated as India’s nodal agency for engagement with BCIC.

What is the BRICS Centre for Industrial Competencies (BCIC)?

• A multilateral public–private platform supporting:
  • Manufacturing firms
  • Micro, Small and Medium Enterprises (MSMEs)
• Focuses on:
  • Advanced manufacturing
  • Digital transformation
  • Sustainable industrial practices

Established: 2024–25
Launched at: Headquarters of United Nations Industrial Development Organization (UNIDO)
Institutional framework: Supported under the BRICS Partnership on New Industrial Revolution (PartNIR)

Objectives of BCIC

• Enhance industrial competitiveness and productivity
• Accelerate digitalisation and Industry 4.0 transition
• Promote innovation-led manufacturing growth
• Support MSMEs integration into global and BRICS value chains

8. What is Bharat Taxi?

Source: News on Air

Why in news?

Bharat Taxi, a government-backed, cooperative-run ride-hailing platform, was formally launched on February 5, 2026 by Union Home and Cooperation Minister Amit Shah, positioning itself as a driver-owned alternative to private aggregators like Uber and Rapido.

What is Bharat Taxi?

• A ride-hailing app offering:
  • Taxis
  • Auto-rickshaws
  • Two-wheelers
• Operated by Sahakar Taxi Cooperative Ltd (STCL), a multi-state cooperative society.
• Supported by institutions such as:
  • National Cooperative Development Corporation (NCDC)
  • Amul
  • NABARD

9. Two decades of FRLs Fail to Rein in Debt in Several States: World Bank

Why in news?

A World Bank report submitted to the 16th Finance Commission has found that nearly two decades of state-level Fiscal Responsibility Laws (FRLs) in India have not led to convergence or sustained reduction in debt levels across States.

Key Findings of the Report

Report title: From Policy to Performance: Analysing India’s Subnational Fiscal Rules

• FRLs have helped improve headline fiscal deficits, but:
  • Gains are fragile and uneven
  • Debt levels remain high in several major States
• Highly indebted States:
  • Kerala
  • Punjab
  • Rajasthan
  • Andhra Pradesh
  • West Bengal

Debt Trends Across States

• States with high initial debt and deficits in the mid-2000s continue to face:
  • Elevated debt burdens
  • Persistent revenue gaps
• Gujarat reduced debt:
  • From >30% of GSDP to <20%
• In contrast, Kerala, Punjab and Rajasthan have failed to significantly lower debt levels.

Drivers of Rising Debt

Analysis of seven States (AP, Haryana, Kerala, Punjab, Rajasthan, Tamil Nadu, West Bengal) shows:

• Rising contingent liabilities
• Off-budget borrowings
• High committed expenditure on:
  • Salaries
  • Pensions
  • Interest payments

Quality of Fiscal Consolidation

• Fiscal consolidation largely achieved through:
  • Cuts in capital expenditure
  • Reductions in development-related revenue spending
• Over 80% of deficit reduction came from expenditure compression rather than:
  • Structural revenue reforms
  • Durable tax mobilisation
• In relatively richer States, revenue growth did not contribute meaningfully to deficit correction.

Core Criticism of India’s Fiscal Rules

• India follows a one-size-fits-all fiscal deficit ceiling of 3% of GSDP.
• The report argues this:
  • Ignores inter-state fiscal heterogeneity
  • Penalises well-performing States
  • Provides inadequate discipline for fiscally weak States

Key Recommendation: Debt-Anchored, Differentiated Framework

Traffic Light System for States

States to be classified based on:

• Debt-to-GSDP ratio (including off-budget liabilities)
• 3-year average operating balance
• Interest payments to own revenue ratio

Category	Borrowing Limit
High-risk States	2.5% of GSDP
Under-observation States	2.8% of GSDP
Sustainable States	3.25% of GSDP

• All calibrated to a medium-term debt anchor of 25% of GSDP.

Banking/Finance

1. SEBI Moots Easing of Commodity Derivatives Rules

Why in news?

The Securities and Exchange Board of India (SEBI) has proposed easing certain risk-management norms in the commodity derivatives market, citing feedback that existing safeguards may be overly conservative and capital-intensive.

What has SEBI proposed?

• SEBI has issued a consultation paper suggesting changes to the rules governing the Settlement Guarantee Fund (SGF) of clearing corporations.
• The SGF acts as a financial buffer to absorb losses arising from member defaults in the derivatives market.

Key Change Suggested

Revision of Stress-Testing Norms

• Current framework:
  • Stress tests based on 15 years of historical price data
  • Extreme price movements capped using a Z-score of 10
• Proposed change:
  • Reduce the Z-score threshold from 10 to 5

What is a Z-score?

• A statistical measure indicating how far a price movement deviates from its historical average.
• Expressed in standard deviations.
• Higher Z-score = more extreme and rarer market event.
• SEBI noted that a Z-score of 10 captures extremely rare events and may overstate risk.

What is the Settlement Guarantee Fund (SGF)?

The Settlement Guarantee Fund (SGF) is a financial safety net maintained by clearing corporations in Indian financial markets to ensure timely settlement of trades, even if one or more market participants default.

In simple terms, SGF guarantees completion of trades and protects the market from cascading failures due to defaults.

Who Regulates SGF?

• Securities and Exchange Board of India (SEBI) – for securities and commodity derivatives markets
• Implemented and managed by clearing corporations of stock exchanges (e.g., NSE, BSE)

2. SEBI Moves to Ease Some Rules for InvITs and REITs

Why in news?

The Securities and Exchange Board of India (SEBI) has proposed targeted regulatory relaxations for Infrastructure Investment Trusts (InvITs) and Real Estate Investment Trusts (REITs) to improve cash management, borrowing flexibility, and post-concession asset handling, while retaining investor protection norms.

Key Proposals in SEBI’s Consultation Paper

1) Holding SPVs Beyond Concession Period (InvITs)

• Issue under current rules:
  • A Special Purpose Vehicle (SPV) must hold ≥90% assets in infrastructure projects.
  • After a project’s concession expires, assets revert to the government, leaving the SPV temporarily non-compliant.
• SEBI’s proposal:
  • Allow InvITs to continue holding such SPVs beyond concession expiry, even if they temporarily fail to meet SPV criteria.
• Rationale:
  • InvITs often face tax assessments, litigation, defect-liability obligations, and contractual responsibilities post-concession.
  • Avoids forced divestments and provides clarity to a long-standing regulatory ambiguity.

2) Greater Flexibility in Parking Surplus Cash (InvITs & REITs)

• Current position:
  • Investments allowed only in a narrow set of liquid instruments.
• Proposed change:
  • Expand the eligible universe of liquid mutual fund schemes.
• Expected benefit:
  • Better treasury management and returns on idle funds without materially increasing risk.

3) Greenfield Projects: Level Playing Field

• Current issue:
  • Private InvITs face tighter investment restrictions than publicly listed InvITs for greenfield projects.
• Proposal:
  • Align conditions for private InvITs with those for listed InvITs.
• Impact:
  • Encourages capital formation and project development via InvITs.

3. SEBI Plans to Revamp ‘Fit and Proper’ Framework

Source: Mint

Why in news?

The Securities and Exchange Board of India (SEBI) has proposed a review and revamp of its ‘fit and proper’ framework for market intermediaries, citing concerns that some existing provisions may be overly rigid and punitive at a preliminary stage of legal proceedings.

What is the ‘Fit and Proper’ Framework?

• A regulatory test used by SEBI to assess whether:
  • Market intermediaries,
  • Their promoters, directors, or key management personnel
    are suitable to operate in the securities market.
• Governed by Schedule II of the SEBI (Intermediaries) Regulations.
• Criteria include:
  • Integrity
  • Reputation
  • Competence
  • Financial soundness

Why is SEBI Reviewing It Now?

• Five years of enforcement experience has highlighted unintended consequences.
• Market representations flagged:
  • Onerous compliance burdens
  • Risk of irreparable reputational and business harm due to early disqualifications
• SEBI also examined global best practices, prompting reconsideration.

4. RBI Imposes Compounding Fee on One 97 Communications for FEMA Violations

Source: BS

Why in news?

In February 2026, the Reserve Bank of India (RBI) imposed a compounding fee of ₹18.76 lakh on One 97 Communications Limited (OCL) for violations of the Foreign Exchange Management Act, 1999, relating to foreign investment transactions in its subsidiary.

What is the case about?

Transaction involved

• Foreign investment of about ₹33 crore
• Made by Little Internet Singapore Private Limited
• Into Little Internet Private Limited (LIPL)
• Period: March 2016 – June 2017

Nature of violation

• Contravention of:
  • Regulation 5(1) read with Regulation 13
  • FEMA Notification No. 120/RB-2004
• These provisions relate to foreign investment norms and reporting/compliance requirements.

Compounding Order Explained

• Compounding under FEMA is a voluntary settlement mechanism:
  • The entity admits the contravention
  • Pays a monetary penalty (compounding fee)
  • The case is then disposed of without further proceedings
• It helps reduce litigation while ensuring regulatory compliance.

Disclosure & Compliance

• OCL disclosed the RBI compounding order under Regulation 30 of the
  Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring transparency to investors.

Facts To Remember

1. Operation Kiya

Operation Kiya is a joint counter-terrorism operation launched by Indian security forces in the forested areas of Jammu and Kashmir. It is in the news due to a fierce encounter in the Basantgarh area of Udhampur, where Pakistani terrorists have been cordoned off. The operation aims to track, contain, and neutralise infiltrated terrorists while ensuring civilian safety through improved intelligence coordination.

2. Exercise Khanjar

Exercise Khanjar is a bilateral counter-terrorism exercise between India and Kyrgyzstan, held at Missamari in Assam. It involves India’s Parachute Regiment (Special Forces) and Kyrgyzstan’s ILBRIS Special Forces Brigade. The exercise focuses on urban and mountain warfare, sniping, and complex operations, strengthening India–Central Asia defence cooperation.

3. Exercise Agni Pariksha

Exercise Agni Pariksha is conducted at Sigar in Arunachal Pradesh by the Indian Army and the Indo-Tibetan Border Police. It is a first-of-its-kind initiative to familiarise non-artillery personnel with artillery procedures. The exercise enhances inter-force integration, firepower coordination, and joint operational trust in future battle scenarios.

4. Exercise Vayu Shakti-2026

Exercise Vayu Shakti-2026 is the Indian Air Force’s largest day-to-night air-power exercise, held at the Pokaran Field Firing Range in Rajasthan. It features over 120 aircraft, including Rafale, Su-30 MKI, Tejas, and Apache helicopters. The exercise showcases precision strikes, air defence, SEAD missions, and indigenous systems like Akash.

5. Karimpuzha Wildlife Sanctuary

Karimpuzha Wildlife Sanctuary is located in the Nilambur forest landscape on the Nilgiri slopes of the Western Ghats in Kerala. A recent faunal survey recorded new species of birds, butterflies, and odonates, highlighting its rich biodiversity. The sanctuary is part of a critical Western Ghats hotspot known for dense forests and high endemism.

6. India–GCC Ink Terms of Reference to Launch FTA Talks

India and the Gulf Cooperation Council have signed the Terms of Reference to formally begin negotiations on a Free Trade Agreement. The GCC is India’s largest merchandise trade partner bloc. The proposed FTA aims to strengthen trade, investment, energy cooperation, and supply-chain integration with West Asia.

7. RBI Warns NBFCs Against Aggressive Growth

The Reserve Bank of India (RBI) has cautioned non-banking financial companies (NBFCs) against pursuing aggressive, return-driven business expansion without commensurate strengthening of risk management, governance, and compliance, warning that supervisory action may follow.

8. Ashwini Vaishnaw Announces Breakthrough of 2nd Mountain Tunnel of MAHSR Project

Union Minister Ashwini Vaishnaw announced the completion of tunnelling work of the second mountain tunnel (MT-6) of the Mumbai–Ahmedabad High-Speed Rail project in Palghar, Maharashtra. The milestone marks progress in India’s first bullet train project and enhances engineering capabilities in complex geological terrain.

9. MoPSW Signs MoUs for Bharat Container Shipping Line and Outer Harbour Project

The Ministry of Ports, Shipping and Waterways announced the signing of two MoUs to establish the Bharat Container Shipping Line and to finance the Outer Harbour Project at V.O. Chidambaranar Port in Thoothukudi, Tamil Nadu. The initiatives aim to strengthen India’s maritime logistics capacity and port-led development.

10. India–Kyrgyzstan Joint Military Exercise KHANJAR-XIII Begins in Assam

The 13th edition of the joint military exercise KHANJAR-XIII between India and Kyrgyzstan commenced at Misamari in Assam from 4 to 17 February 2026. The exercise focuses on enhancing interoperability between Special Forces, particularly in counter-terrorism operations in challenging terrain.

11. NGEL and Assago Sign MoU for India’s First Green Urea Plant

NTPC Green Energy Limited and Assago Industries signed an MoU to develop India’s first large-scale green urea plant at the Green Hydrogen Hub in Pudimadaka near Visakhapatnam, Andhra Pradesh. The project aligns with India’s clean energy transition and sustainable fertiliser production goals.

12. Walmart Becomes First Retail Company to Reach USD 1 Trillion Market Value

Walmart Inc. became the world’s first retail company to achieve a market capitalisation of USD 1 trillion following a sustained rally in its share price. The milestone reflects strong global retail performance and investor confidence in Walmart’s business model.

13. Bhutan Queen Mother Receives Upendra Nath Brahma ‘Soldier of Humanity’ Award

Queen Mother of Bhutan, Gyalyum Ashi Dorji Wangmo Wangchuck, was honoured with the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award in Assam. She was recognised for her humanitarian leadership through the Tarayana Foundation in areas such as rural development, women’s empowerment, healthcare, and cultural preservation.

14. HMG Stones Secures ISO 9001:2015 and 5S Gold Certifications

HMG Stone LLP achieved ISO 9001:2015 certification for quality management and 5S Gold Grade certification for workplace organisation. The company became the first in India’s natural stone industry to receive both certifications simultaneously, covering its manufacturing units and experience centres.

15. Vinay Muralidhar Tonse Appointed MD & CEO of YES Bank

The Reserve Bank of India approved the appointment of Vinay Muralidhar Tonse as Managing Director and CEO of YES Bank for a three-year term. A veteran banker with over three decades of experience, he will succeed Prashant Kumar, whose tenure ends in April 2026.

16. DRDO Successfully Tests Solid Fuel Ducted Ramjet Technology

DRDO successfully conducted a flight demonstration of Solid Fuel Ducted Ramjet technology at the Integrated Test Range in Chandipur, Odisha. The successful test strengthens India’s indigenous missile capabilities and supports the development of next-generation beyond-visual-range air-to-air missiles.

17. India to Host Asian Rifle/Pistol Championship 2027

India secured the hosting rights for the Asian Rifle/Pistol Championship 2027, scheduled to be held at the Dr. Karni Singh Shooting Ranges in New Delhi. The event will serve as a qualifying tournament for the 2028 Los Angeles Olympics, offering eight continental quota places.

18. Travel Writer Hugh Gantzer Passes Away

Renowned travel writer and Padma Shri awardee Hugh Gantzer passed away at the age of 95 in Mussoorie, Uttarakhand. A former Indian Navy officer, he was widely known for his travel writing, documentaries, and long-running newspaper columns showcasing India’s cultural diversity.

19. World Interfaith Harmony Week 2026 – February 1 to 7

World Interfaith Harmony Week was observed from 1 to 7 February 2026 to promote peace, tolerance, and non-violence across religions. The initiative, recognised by the United Nations, is rooted in the ‘A Common Word’ movement and encourages interfaith dialogue and mutual understanding.

20. HM Amit Shah visits border posts in Jammu, launches welfare schemes for BSF personnel

Union Home Minister Amit Shah today visited forward areas in Hiranagar sector along the International Border in Kathua district, marking the start of his two-day tour of Jammu and Kashmir.

21. RBI keeps policy repo rate unchanged at 5.25 percent

The Reserve Bank of India has decided to keep the repo rate unchanged at 5.25 per cent. 

22. MoS for Defence Sanjay Seth to participate in World Defence Show 2026 on Feb 8

Minister of State for Defence Sanjay Seth will lead a high-level Indian delegation to the Kingdom of Saudi Arabia to participate in the third World Defence Show 2026

23. India Australia Business Case Studies Compendium launch at IIFT

The India-Australia Business Case Studies Compendium, titled Pitch Perfect Australia-India: Perfect Conditions for a 100 Billion dollar Partnership, was launched at the Indian Institute of Foreign Trade, Delhi Campus.

24. India-EU Free Trade Agreement is game changing development for both sides: EAM S Jaishankar 

External Affairs Minister Dr S Jaishankar today said that India-EU Free Trade Agreement is a game-changing development for both sides. 

25. PM Modi to visit Malaysia tomorrow to boost strategic partnership ties

Prime Minister Narendra Modi will undertake a two-day visit to Malaysia beginning tomorrow to strengthen bilateral ties in areas of trade, investment, energy, and maritime security. 

26. Indian Railways announces operation of record number of Holi Special Trains this year

Indian Railways has announced the operation of a record number of Holi Special Trains this year. 

27. DRDO hosts 24th Indo-US Joint Technical Group Plenary Meeting to advance cooperation in Defence Science & Technologies

Defence Research and Development Organisation (DRDO) hosted the 24th Indo-US Joint Technical Group Plenary Meeting to advance cooperation in Defence Science and Technologies.

28. ISRO accelerates its space missions, & preparations are underway for ambitious Chandrayaan-4 & 5 projects

Indian Space Research Organisation Chairman V. Narayanan has said that following the historic success of Chandrayaan-3, India has accelerated its space missions and preparations are underway for the ambitious Chandrayaan-4 and Chandrayaan-5 projects.

Daily Current Affairs Quiz
07 February, 2026

National Affairs

1. Centre Defines Eligibility Criteria for ‘Deep Tech’ Start-ups

Source: The Hindu

Why in News?

The Union Government has officially defined what constitutes a “deep tech” start-up through a gazette notification issued by the Department for Promotion of Industry and Internal Trade (DPIIT), bringing regulatory clarity to a term widely used but previously undefined.

What is a Deep Tech Start-up?

According to the notification, a deep tech start-up is an enterprise that:

• Develops solutions based on new scientific or engineering knowledge
• Is R&D-intensive
• Operates in areas involving high technical or scientific uncertainty

Key Eligibility Criteria

• R&D Focus:
  • Majority of expenditure must be on research and development
• Intellectual Property (IP):
  • Must own or be in the process of creating novel IP
  • Must take steps to commercialise such IP
• Operational Characteristics:
  • Long gestation periods
  • Extended development timelines
  • High capital and infrastructure requirements

Relaxed Start-up Norms for Deep Tech Firms

Parameter	Normal Start-up	Deep Tech Start-up
Maximum age	10 years	20 years
Turnover limit	₹200 crore	₹300 crore

2. NBA Launches Digital Portal for Certificate of Origin of Cultivated Medicinal Plants

Source: PIB

Why in News?

On 5 February 2026, the National Biodiversity Authority (NBA) launched a digital portal for the electronic issuance of Certificates of Origin (CoO) for cultivated medicinal plants, to support Access and Benefit Sharing (ABS) exemption applications.

Key Features of the Digital CoO Portal

• Purpose:
  • Issuance of Certificates of Origin (CoO) for cultivated medicinal plants
  • Facilitation of ABS exemption claims
• System Design:
  • Single-window, end-to-end online platform
  • Covers:
    • Application submission
    • Processing
    • Approval and issuance of CoO
• Automation:
  • Auto-generation of Form-12 for eligible stakeholders

About Access and Benefit Sharing (ABS)

• ABS ensures:
  • Fair and equitable sharing of benefits
  • Arising from the use of biological resources
• Exemptions:
  • Available for cultivated medicinal plants
  • Subject to certification through CoO

About National Biodiversity Authority (NBA)

• Established: 2003
• Under: Biological Diversity Act, 2002
• Headquarters: Chennai, Tamil Nadu
• Structure includes:
  • National Biodiversity Authority
  • Secretariat
  • State Biodiversity Boards (SBBs)
  • Biodiversity Management Committees (BMCs)
  • Expert Committees

Banking/Finance

1. RBI Keeps Repo Rate Unchanged at 5.25%

Source: TH

Why in News?

The Reserve Bank of India (RBI), in its February monetary policy, decided to keep the policy repo rate unchanged at 5.25% and retained a neutral policy stance, signalling a likely pause in rate action.

Key Decisions

• Repo Rate:
  • Maintained at 5.25%
• Policy Stance:
  • Neutral
• MPC Decision:
  • Status quo adopted amid stable macroeconomic conditions

What Does “Neutral Stance” Indicate?

• Global and domestic developments
• RBI is not pre-committed to either rate hikes or cuts
• Future actions will depend on:
• Inflation trajectory
• Growth outlook

What is Repo Rate?

The repo rate is the interest rate at which the Reserve Bank of India (RBI) lends short-term funds to commercial banks against government securities.

• Tool used by RBI to control inflation and liquidity
• Higher repo rate → borrowing becomes costlier
• Lower repo rate → borrowing becomes cheaper

What is Reverse Repo Rate?

The reverse repo rate is the interest rate at which RBI borrows money from commercial banks.

• Used to absorb excess liquidity from the banking system
• Banks park surplus funds with RBI to earn safe returns
• Usually lower than repo rate

Repo vs Reverse Repo

Aspect	Repo Rate	Reverse Repo Rate
RBI’s role	Lender	Borrower
Banks’ role	Borrowers	Lenders
Objective	Inject liquidity	Absorb liquidity
Effect on money supply	Increases	Decreases

2. RBI Raises Loan Limits for Small Businesses; Allows Bank Lending to REITs

Source: BS

Why in News?

The Reserve Bank of India (RBI) has announced measures to enhance credit flow to small businesses and support the real estate sector, as part of its monetary policy initiatives to strengthen formal and last-mile lending.

Key Announcements

1. Enhanced Collateral-Free Loans for Small Businesses

• Limit doubled:
  • From ₹10 lakh to ₹20 lakh (₹1 million to ₹2 million)
• Objective:
  • Improve access to formal credit for micro and small enterprises
  • Reduce dependence on informal lenders
  • Support entrepreneurship and job creation

2. Bank Lending to REITs Permitted

• Banks allowed to lend to Real Estate Investment Trusts (REITs)
• Lending to be subject to prudential safeguards
• Aimed at:
  • Strengthening the real estate financing ecosystem
  • Improving liquidity and transparency in the sector

What are REITs?

Real Estate Investment Trusts (REITs) are regulated investment vehicles that own, operate, or finance income-generating real estate such as office parks, malls, warehouses, and hotels. They allow investors to earn returns from real estate without directly owning property.

3. RBI Plans ₹25,000 Compensation for Cyber Fraud Victims

Source: TOI

Why in News?

The Reserve Bank of India (RBI) has proposed a new compensation framework to provide relief to victims of small-value online frauds, with compensation up to ₹25,000.

Key Features of the Proposed Framework

• Maximum compensation:
  • Up to ₹25,000 per victim
• Coverage:
  • Applicable to small-value cyber frauds (below ₹50,000)
  • Such cases constitute around 65% of online fraud incidents by number
• Compensation sharing mechanism (Skin in the game):
  • Victim: 15% of transaction value
  • Bank: 15% of transaction value
  • RBI: 85% of transaction value or ₹25,000 (whichever is lower)
• Funding source:
  • RBI’s Depositor Education and Awareness (DEA) Fund, corpus ≈ ₹85,000 crore

4. NBFCs with Assets Below ₹1,000 Crore Exempted from Mandatory RBI Registration

Source: ET

Why in News?

The Reserve Bank of India (RBI) has announced regulatory relaxations for certain non-banking financial companies (NBFCs) to reduce compliance burden while maintaining systemic stability.

Key Announcements

1. Exemption from Mandatory Registration

NBFCs will be exempted from registration with RBI if they meet all of the following conditions:

• No access to public funds
• No customer interface
• Total assets below ₹1,000 crore

2. Branch Expansion Norms Relaxed

• RBI has proposed to remove the requirement of prior approval for certain NBFCs to:
  • Open more than 1,000 branches

Objective of the Measures

• Reduce regulatory and compliance burden on smaller NBFCs
• Allow low-risk NBFCs to operate more efficiently
• Enable RBI to focus supervision on systemically important NBFCs

RBI’s Broader Regulatory Approach

• Adopts a risk-based regulation framework
• Balances:
  • Ease of doing business
  • Financial stability
• Continues monitoring:
  • Liquidity conditions
  • Credit flows in the economy

5. Mission SAKSHAM

Source: TH

Why in News?

The Reserve Bank of India (RBI) has announced the launch of Mission SAKSHAM (Sahakari Bank Kshamta Nirman), a sector-wide capacity-building and certification framework aimed at strengthening Primary (Urban) Cooperative Banks (UCBs).

What is Mission SAKSHAM?

• A nationwide capacity-building initiative for UCBs
• Focuses on:
  • Skill development
  • Technical capabilities
  • Operational resilience
• Designed as a structured training and certification framework

Key Features

• Target group:
  • Primary (Urban) Cooperative Banks (UCBs)
• Coverage:
  • Around 1.4 lakh (140,000) participants
  • Across multiple functions within UCBs
• Mode of implementation:
  • Large number of physical training programmes
  • A scalable digital learning platform
• Nature of programme:
  • Sector-wide
  • Certification-based
  • Focused on long-term institutional strengthening

6. Urban Consumer Confidence Survey: RBI

Source: IE

Context:

The latest Urban Consumer Confidence Survey by the Reserve Bank of India reveals a softening of sentiment, signalling caution among urban households—but not alarm. The data fits neatly with the broader macro narrative: strong fundamentals, cautious households.

What the Dip Really Means

The decline in both the Current Situation Index (CSI) and the Future Expectations Index (FEI) does not point to economic distress. Instead, it reflects a cooling of optimism after a prolonged post-pandemic rebound.

The Urban Caution Paradox

Urban households are reacting to micro-level pressures even as macro indicators look robust:

1. Inflation Perception vs Inflation Reality

• Headline CPI is low
• But lived inflation—housing, education, healthcare, services—remains sticky
• Confidence surveys capture perception, not policy averages

Result: Households feel poorer even when inflation is technically benign.

2. Income Insecurity, Not Job Loss

• Employment has not deteriorated sharply
• But:
  • Salary growth is uneven
  • White-collar job churn is rising
  • Gig and contract work is expanding

This creates income anxiety without unemployment, which dampens confidence.

3. Urban Exposure to Global Uncertainty

Urban consumers are more sensitive to:

• Global slowdown narratives
• Tech-led job disruption
• Trade and geopolitical risks

Rural households, buffered by transfers and agriculture-linked income, feel these shocks less immediately—explaining the urban–rural confidence divergence.

Facts To Remember

1. Suryavanshi goes berserk as India lords over England

Batting prodigy Vaibhav Suryavanshi lit up the grand stage with a jaw-dropping 175 (80b, 15×4, 15×6) to power India to a record-extending sixth ICC under-19 World Cup title with a 100-run victory over England in the final here on Friday.

2. Union Minister Rajnath Singh Flags Off Mount Aconcagua Expedition

On February 5, 2026, Union Minister Rajnath Singh, Ministry of Defence (MoD), flagged off a joint Indian mountaineering expedition to Mount Aconcagua in Argentina from New Delhi. Mount Aconcagua, with an elevation of about 6,960 metres, is the highest peak in South America and the tallest mountain outside Asia.

3. NTH Signs MoU with STQC–ERTL (North) for EMI/EMC Testing of Drones

In February 2026, the National Test House (NTH) signed a Government-to-Government MoU with STQC Directorate’s Electronics Regional Test Laboratory (ERTL), North, under the Ministry of Electronics and Information Technology. The partnership enables Electromagnetic Interference and Electromagnetic Compatibility testing of drones and subsystems in India. ERTL (North) will conduct testing as per IEC 61000 and Indian Standard IS 14700, strengthening India’s drone certification and compliance ecosystem.

4. Airbus and GSV Inaugurate Centre of Excellence for Aerospace Research in Gujarat

In February 2026, Airbus inaugurated a Centre of Excellence for aerospace studies at Gati Shakti Vishwavidyalaya (GSV), Vadodara, Gujarat. The CoE focuses on research, innovation, and skill development in aerospace, with emphasis on Sustainable Aviation Fuel and future technologies such as Municipal Solid Waste to SAF conversion.

5. Delhi Ranked World’s Most Affordable City for International Students

In February 2026, a joint report titled “India’s 155 Million Student Mandate” by Knight Frank India, Deloitte India, and QS ranked New Delhi as the world’s most affordable city for international students. The findings draw on QS Best Student Cities 2026 and QS International Student Survey 2025 data. Around 150 cities were assessed across six equally weighted categories: affordability, employer activity, university rankings, city desirability, student voice, and student mix.

6. Axis Bank Launches Rooftop Solar Finance for MSMEs

On February 5, 2026, Axis Bank launched “Rooftop Solar Finance” to promote solar energy adoption among MSMEs. The product offers collateral-free loans ranging from ₹10 lakh to ₹2 crore, with flexible repayment tenure of 4–7 years. Through partnerships with OEMs and a technology partner, the initiative aims to reduce energy costs for MSMEs and support India’s clean energy transition.

7. Alwar Becomes India’s First District with 100% Insurance Coverage

On February 3, 2026, Alwar district in Rajasthan became the first in India to achieve 100% insurance coverage under the “Insurance for All by 2047” initiative of the Government of India and IRDAI. The milestone covers nine fully insured villages, where premiums for eligible adults were funded by an NGO. Insurance policies were issued by United India Insurance Company Limited.

8. Adani Defence Partners Leonardo for Helicopter Manufacturing in India

In February 2026, Adani Defence & Aerospace signed an MoU with Italian aerospace firm Leonardo to develop a helicopter manufacturing ecosystem in India. The partnership covers manufacturing, assembly, MRO facilities, pilot training infrastructure, and phased indigenisation. It focuses on AW169M and AW109 TrekkerM helicopters and aligns with Make in India and Aatmanirbhar Bharat initiatives.

9. Paradip Port Authority Wins Swachhata Pakhwada Awards 2025

On February 3, 2026, Paradip Port Authority, Odisha, won first prize at the Swachhata Pakhwada Awards 2025 instituted by the Ministry of Ports, Shipping and Waterways. The award recognises excellence in cleanliness, sustainability, citizen participation, waste management, and Safai Mitra welfare.

10. Yumnam Khemchand Singh Sworn In as Manipur Chief Minister

On February 4, 2026, Yumnam Khemchand Singh was sworn in as Chief Minister of Manipur, nearly a year after President’s Rule under Article 356. Nemcha Kipgen and Losii Dikho took oath as Deputy Chief Ministers, marking Kipgen as the first woman to hold the post in the state.

11. Digantra Industries Partners DSTA Singapore on Space Debris Protection

On February 3, 2026, Bengaluru-based Digantra Industries signed an agreement with Singapore’s Defence Science and Technology Agency to co-develop Space Situational Awareness tools. The collaboration focuses on orbital monitoring, conjunction screening, and collision avoidance to protect satellites from space debris.

12. Sagar Defence Delivers First Unmanned Surface Vessels to Indian Navy

In February 2026, Sagar Defence Engineering delivered its first two Unmanned Surface Vessels to the Indian Navy. The AI-enabled, high-speed autonomous vessels exceed 50 knots, feature stealth design, and are equipped with a 12.7 mm gun and missile provisions. Over 70% of the content is indigenous, supporting Atmanirbhar Bharat.

13. Padma Awardee Dr. Andre Beteille Passed Away

In February 2026, eminent sociologist and Padma Bhushan awardee Dr. Andre Beteille passed away at the age of 91 in New Delhi. A Professor Emeritus at the University of Delhi, he was a leading scholar on caste, class, inequality, and social change, and author of seminal works such as Caste, Class and Power and Society and Politics in India.

14. Yumnam Khemchand Singh Becomes 13th Chief Minister as Manipur Exits President’s Rule

Yumnam Khemchand Singh was sworn in as the 13th Chief Minister of Manipur after the end of President’s Rule imposed in February 2025. He took oath from Governor Ajay Kumar Bhalla and is a BJP leader and two-time MLA from Singjamei. Manipur’s capital is Imphal.

15. RBI Approves Vinay Muralidhar Tonse as MD and CEO of Yes Bank

The RBI approved Vinay Muralidhar Tonse as MD and CEO of Yes Bank for a three-year term. A former SBI Managing Director, he succeeds Prashant Kumar, whose tenure ended in April 2026. Yes Bank is headquartered in Mumbai and was founded in 2003.

16. DAC Developers Appoints A R Rahman as Brand Ambassador

DAC Developers appointed Oscar and Grammy Award–winning composer A R Rahman as its brand ambassador to strengthen brand visibility. He is one of India’s most globally recognised music personalities.

17. IOC Elects Soraya Aghaei as First Female Member from Iran

Soraya Aghaei was elected as the first female IOC member from Iran and the youngest current member. A former Iranian badminton Olympian, she will serve an eight-year term, reflecting growing gender representation in the IOC.

18. Veerabhadran Ramanathan Wins 2026 Crafoord Prize in Geosciences

Indian-origin scientist Veerabhadran Ramanathan won the 2026 Crafoord Prize in Geosciences for his pioneering work on climate science and atmospheric research. The award is conferred by the Royal Swedish Academy of Sciences.

19. Paradip Port Authority Wins Swachhata Pakhwada Award 2025

Paradip Port Authority won the first prize at the Swachhata Pakhwada Awards 2025 for excellence in cleanliness, sustainability, and community participation. The award was presented by the Ministry of Ports, Shipping and Waterways.

20. Bhutan Queen Mother Conferred ‘Soldier of Humanity’ Award

Bhutan’s Queen Mother Gyalyum Ashi Dorji Wangmo Wangchuck received the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025 in Assam for her humanitarian and social service contributions.

21. INS Sudarshini Makes First International Port Call During Lokayan 26

INS Sudarshini made its first international port call at Salalah, Oman, during the Lokayan 26 expedition. The 10-month voyage will cover over 22,000 nautical miles and visit 18 foreign ports.

22. RBI Boosts Growth Forecast to 7.4%

India’s central bank yesterday raised its real GDP growth projection for 2025-26 to 7.4 percent, signalling confidence in the durability of domestic demand even as global trade uncertainties and financial market volatility cloud the external outlook, as it held interest rates steady.

23. Western Air Command conducts two-day Joint Operations Conclave

Headquarters Western Air Command conducted a two-day high-level Joint Operations Conclave under the framework of the All Domain Joint Operations Exercise 2026. 

24. India successfully test-fires Agni-III intermediate-range ballistic missile from Integrated Test Range in Odisha

India today successfully test-fired the Agni-III intermediate-range ballistic missile from the Integrated Test Range at Chandipur in Odisha. 

25. India Australia Business Case Studies Compendium launch at IIFT

The India-Australia Business Case Studies Compendium, titled Pitch Perfect Australia-India: Perfect Conditions for a 100 Billion dollar Partnership, was launched at the Indian Institute of Foreign Trade, Delhi Campus.

26. DRDO hosts 24th Indo-US Joint Technical Group Plenary Meeting to advance cooperation in Defence Science & Technologies

Defence Research and Development Organisation (DRDO) hosted the 24th Indo-US Joint Technical Group Plenary Meeting to advance cooperation in Defence Science and Technologies.

Daily Current Affairs Quiz
08 & 09 February, 2026

International Affairs

1. Mount Aconcagua

Source: News on Air

Context:

Indian mountaineer Kabak Yano from Arunachal Pradesh successfully summited Mount Aconcagua in Argentina as part of her Seven Summits expedition.

What is Mount Aconcagua?

• Highest mountain in South America
• Highest peak in the Western Hemisphere
• Tallest mountain outside Asia
• Elevation: ~22,831 feet (6,959 metres)
• Part of the Seven Summits (highest peaks on each continent)

Location

• Country: Argentina
• Province: Western Mendoza Province
• Geographical setting:
  • Near the Argentina–Chile border
  • Part of the Southern Andes mountain range

National Affairs

1. Agni-3 Intermediate-Range Ballistic Missile

Source: News on Air

Context:

India successfully test-fired the Agni-3 Intermediate-Range Ballistic Missile (IRBM) from the Integrated Test Range, Chandipur, Odisha, validating its operational readiness and reliability, according to PIB

What is Agni-3?

Agni-3 is an Intermediate-Range Ballistic Missile (IRBM) with a strike range of about 3,000 km, forming a critical component of India’s land-based nuclear deterrent under the Agni missile family.

It strengthens India’s ability to deter long-range strategic threats and contributes to credible minimum deterrence.

Developed and Operated By

• Developer: Defence Research and Development Organisation
• Operational Command: Strategic Forces Command

Key Features of Agni-3

Feature	Details
Range	~3,000 km
Category	Intermediate-Range Ballistic Missile (IRBM)
Propulsion	Two-stage, solid-fuel
Launch Platform	Road-mobile launcher (canisterised variants tested earlier)
Payload	Conventional or nuclear warhead
Guidance	Advanced inertial navigation system with high accuracy
Operational Status	Successfully validated in 2026 test

2. Dal Lake

Source: TH

What is the news?

The Jammu and Kashmir government has officially abandoned the ₹416.72-crore Dal Lake resettlement project after 17 years, citing only 27% progress since its approval in 2009. The information was shared in the J&K Assembly in response to a question by Tanvir Sadiq.

Dal Lake

• Situated in Srinagar, Jammu & Kashmir
• Lies in the Zabarwan range foothills of the western Himalayas
• Fed by the Telbal Nallah (from Dachigam catchment)
• Nicknamed: “Jewel in the crown of Kashmir”

3. India–Netherlands Hydrogen Fellowship Programme

Source: PIB

Context:

On 6 February 2026, Department of Science and Technology (DST) launched the India–Netherlands Hydrogen Fellowship Programme in New Delhi. The launch was led by DST Secretary Abhay Karandikar, under the Ministry of Science & Technology.

DST also hosted the signing of an MoU between the University of Groningen and 19 Indian Institutes of Technology (IITs) to establish an academic cooperation framework in green energy and hydrogen (H₂) research.

About the Fellowship Programme

A bilateral research fellowship programme aimed at building human capital and advanced research capacity to support the scale-up of green hydrogen technologies in India through collaboration with the Netherlands.

Scheme Launch Details

• Scheme Guidelines & Call for Proposals (CFP) released by DST
• Application process formally opened from the launch date

Who can apply?

The programme is open to:

• Indian PhD scholars
• Post-doctoral researchers
• Faculty members
  across Indian academic and research institutions

3. VOC Port becomes India’s first port to deploy an advanced Anti-Drone System

Source: TH

Context:

In February 2026, V.O. Chidambaranar Port at Thoothukudi, Tamil Nadu, became the first port in India to initiate installation of an advanced Anti-Drone System, significantly strengthening maritime and coastal security.

Key Features of the Anti-Drone Project

Technology & System Design

• Integrated Radio Frequency (RF) and radar-based system
• Components include:
  • Drone detector
  • Drone detection radar
  • Man-pack jammer
• Together form a comprehensive counter-UAS (C-UAS) system

Capabilities

• 360-degree coverage
• Omnidirectional bearing
• Effective range: Up to 5 km
• Enables:
  • Real-time detection
  • Tracking
  • Classification
  • Neutralisation of unauthorised drones

4. NSO launches beta version of ‘MCP Server’ on eSankhyiki Portal

Source: PIB

Context:

In February 2026, the National Statistics Office (NSO), under the Ministry of Statistics and Programme Implementation (MoSPI), launched the beta version of the Model Context Protocol (MCP) Server on the eSankhyiki portal.

This initiative allows users to directly connect official government datasets with their own Artificial Intelligence (AI) tools and applications.

What is the MCP Server?

The Model Context Protocol (MCP) Server is a data-access interface that enables:

• Machine-readable access to official statistics
• Direct integration of NSO datasets into AI models, analytics tools, and applications
• Secure, standardised, and real-time data consumption

It represents a shift from static data downloads to API-driven, AI-ready statistical infrastructure.

What is eSankhyiki?

eSankhyiki is the official digital data dissemination portal of the National Statistics Office (NSO) under the Ministry of Statistics and Programme Implementation (MoSPI).

It provides open, standardised, and machine-readable access to India’s official statistics.

Datasets Available in the Beta Version

The MCP Server currently hosts seven key datasets:

• Periodic Labour Force Survey (PLFS)
• Consumer Price Index (CPI)
• Annual Survey of Industries (ASI)
• Index of Industrial Production (IIP)
• National Accounts Statistics (NAS)
• Wholesale Price Index (WPI)
• Environment Statistics

5. Cybersecurity biggest risk for enterprises: Ficci–EY Report

Source: BS

Context:

A joint report by FICCI and EY finds that cybersecurity has emerged as the single biggest risk shaping organisational performance in India’s corporate sector. The findings are based on a survey of senior executives across sectors and reflect how risk perception in enterprises is rapidly evolving.

Key risks identified:

• Cybersecurity breaches – 61%
  • Ranked as the top organisational risk
  • Includes:
    • Data breaches
    • Ransomware
    • Insider fraud
  • No longer an IT issue alone — now a boardroom priority
• Limited adoption of emerging technologies – 59%
  • Slow or inadequate adoption of AI and advanced digital tools
  • Directly impacts:
    • Productivity
    • Operational efficiency
    • Competitive advantage
• AI governance and ethical risks – 54%
  • Executives feel AI-related risks are not effectively managed
  • Concerns include:
    • Bias
    • Lack of transparency
    • Weak governance frameworks
• Potential data theft and insider fraud – 57%
  • Highlights human vulnerability alongside technical threats
  • Insider risk now seen as nearly as serious as external attacks
• Changing customer demands – 49%
  • Rapidly evolving expectations around:
    • Digital experience
    • Personalisation
    • Speed and reliability
• Geopolitical events – 48%
  • Global conflicts, trade disruptions, sanctions
  • Affect:
    • Supply chains
    • Data localisation
    • Cyber threat intensity
• Difficulty tackling sophisticated cyber threats – 47%
  • Organisations struggling to keep pace with:
    • AI-driven cyberattacks
    • Advanced persistent threats (APTs)

Banking/Finance

1. Why borrowings are now biting govts despite RBI rate cuts

Source: IE

Context:

Even as the Reserve Bank of India has cut policy rates, borrowing costs for the Centre and States have risen. Government bond yields are climbing, making debt servicing more expensive.

This shows that fiscal and liquidity dynamics are now overpowering monetary easing.

What is driving higher borrowing costs?

1. Debt overhang effect

• Pandemic-era borrowing sharply raised public debt
• Though debt ratios are declining, they remain well above pre-COVID levels
• Markets now price in:
  • Higher future borrowing
  • Greater refinancing risk

A large stock of debt itself pushes yields up, regardless of repo rate cuts.

2. Liquidity withdrawal

Earlier:

• Strong foreign inflows
• RBI’s forex purchases injected rupee liquidity

Now:

• Capital inflows have weakened
• RBI is selling dollars to stabilise the rupee
• This drains systemic liquidity

Less liquidity + large government borrowing = higher bond yields.

3. Weak monetary transmission

• Repo rate mainly affects short-term money market rates
• Government borrowing depends on long-term G-sec yields
• When liquidity is tight:
  • Rate cuts do not transmit fully
  • Yield curve remains elevated

Monetary easing loses traction in the bond market.

4. Crowding-out pressure

• Governments absorb a large share of domestic savings
• Leaves fewer funds for:
  • Private investment
  • Corporate borrowing

This can raise economy-wide interest rates and dampen growth.

Why does this matter?

Fiscal stress

• Rising interest payments consume a larger share of budgets
• Shrinks space for:
  • Capital expenditure
  • Social sector spending

Growth risk

• Higher yields discourage private investment
• Slows credit-led growth momentum

Policy lesson

• Monetary policy cannot offset fiscal stress indefinitely
• Debt management and liquidity conditions matter as much as repo rates

Way forward

• Gradual but credible fiscal consolidation
• Better coordination between:
  • Debt management
  • Liquidity operations
• Deepening bond markets to absorb borrowing without yield spikes

2. India Signs DPI Cooperation MoUs with 23 Countries

Context:

In February 2026, the Government of India (GoI) signed MoUs/agreements with 23 countries to share and promote India’s Digital Public Infrastructure (DPI) and components of the India Stack.
This was informed to Parliament by Jitin Prasada, Ministry of Electronics and Information Technology.

What is the initiative about?

India is exporting its DPI model—open, interoperable, population-scale digital systems—to partner countries to strengthen digital governance, financial inclusion, and service delivery.

Key Areas of Cooperation

The MoUs focus on:

• Digital identity
• Digital payments
• Data exchange frameworks
• Public service delivery platforms

Countries that signed DPI MoUs (23)

• Armenia
• Sierra Leone
• Suriname
• Antigua and Barbuda
• Papua New Guinea
• Trinidad and Tobago
• Tanzania
• Kenya
• Cuba
• Colombia
• Lao People’s Democratic Republic
• Saint Kitts and Nevis
• Ethiopia
• Jamaica
• Gambia
• Fiji
• Guyana
• Venezuela
• Sri Lanka
• Brazil
• Lesotho
• Maldives
• Mongolia

Global Expansion of UPI

India’s flagship digital payments system, Unified Payments Interface (UPI), is now operational in 8 countries:

• United Arab Emirates (UAE)
• Singapore
• Bhutan
• Nepal
• Sri Lanka
• France
• Mauritius
• Qatar

3. Kotak Mahindra Bank issues India’s first fully digital FPI licence

Source: BS

Context:

In February 2026, Kotak Mahindra Bank Limited (KMBL) became the first custodian in India to issue a Foreign Portfolio Investor (FPI) licence and complete the entire onboarding process digitally using e-signatures.

What is the significance?

This marks a major step in:

• Digitisation of capital market processes
• Ease of doing business for foreign investors
• Faster, paperless regulatory compliance

It reflects India’s shift towards end-to-end digital financial infrastructure.

Key Details of the Digital FPI Process

1. SEBI’s Unified Digital Workflow

• Implemented by Securities and Exchange Board of India in January 2026
• Enables:
  • Digital Signature Certificates (DSCs)
  • Electronic signatures (e-signatures)
• Operates through the FPI Common Application Form (CAF) portal

2. Legal Compliance

• As per SEBI directions:
  • DSCs must be issued by Indian certifying authorities
  • Must comply with the Information Technology Act, 2000

3. Kotak Mahindra Bank’s Milestone

• Issued its first two FPI licences using:
  • Fully digitally signed documents
• Eliminated:
  • Physical paperwork
  • Wet signatures
• Reduced onboarding time and operational friction

4. India shifts to Risk-Based Deposit Insurance Premiums

Source: ET

Context:

From 1 April, India will overhaul its deposit insurance premium framework, moving from a flat-rate system to a risk-based pricing model.
The reform was announced by the Reserve Bank of India and will be implemented by the Deposit Insurance and Credit Guarantee Corporation (DICGC).

What was the earlier system?

• In place since 1962
• Flat premium rate for all banks, irrespective of risk
• Current rate:
  • 12 paise per ₹100 of assessable deposits
• Advantage:
  • Simple and uniform
• Limitation:
  • Did not differentiate between well-managed and weak banks
  • Created no incentive for prudent risk management

What is changing now?

1. Risk-based premium framework

Banks’ deposit insurance premiums will now depend on:

• Capital adequacy
• Asset quality
• Earnings
• Liquidity
• Supervisory assessment
• Potential loss their failure could impose on the insurance fund

Stronger banks pay lower premiums, riskier banks pay higher premiums.

2. Two risk assessment models

• Tier-1 model
  • For scheduled commercial banks
  • Excludes Regional Rural Banks (RRBs)
• Tier-2 model
  • For RRBs and cooperative banks

3. Caps on premium variation

• Risk-based adjustment capped at ±33.33% of the base (“card”) rate
• Prevents:
  • Excessive burden on weaker banks
  • Abrupt shocks to the banking system

4. Vintage incentive

• Additional incentive of up to 25% reduction
• For banks with:
  • Long contribution history
  • No major claim payouts
• Final premium = Card rate ± risk incentive ± vintage incentive

5. Special treatment of certain banks

• Payments banks & local area banks
  • Continue to pay flat card rate
  • Reason: limited data availability
• Urban Cooperative Banks (UCBs)
  • Under supervisory or corrective action:
    • Brought into new framework only after exiting restrictions

5. RBI issues draft norms for Corporate Bond Index Derivatives & TRS

Source: ET

Context:

The Reserve Bank of India (RBI) has issued draft guidelines for derivatives trading in:

• Corporate bond indices
• Total Return Swaps (TRS)

These measures were announced by Finance Minister Nirmala Sitharaman in the Union Budget to deepen India’s corporate bond market.

Why this move?

RBI aims to:

• Improve credit risk management
• Enhance liquidity and price discovery
• Facilitate corporate bond issuance across ratings
• Broaden India’s credit risk transfer toolkit

What is a Total Return Swap (TRS)?

A TRS is a derivative where:

• One party receives the total return of a bond (coupon + price movement)
• Without owning the underlying bond
• The provider (typically a bank) holds the bond and receives a fixed or floating payment

Enables synthetic exposure to credit risk.

Key Provisions in the Draft Norms

1. Eligible Participants

• Residents (non-individuals):
  • TRS permitted without restriction on purpose
• Individuals:
  • Not allowed to participate in TRS
• Non-residents:
  • TRS allowed only for hedging

2. Reference / Underlying Assets

Derivatives may reference indices comprising:

• Money market debt instruments
• Rated corporate bonds and debentures
• Unrated bonds/debentures issued by SPVs of infrastructure companies

3. Interest Rate Benchmark

• Floating leg of TRS / index derivatives must be linked to:
  • Benchmarks published by financial benchmark administrators

4. Settlement Norms

• To be specified by Fixed Income Money Market and Derivatives Association of India (FIMMDA)
• After consultation with market participants

Agriculture

1. What India has conceded on agriculture in the India–US trade framework

Source: IE

Context:

India’s concessions on agriculture under the India–US interim trade framework are selective and calibrated, not a wholesale opening. The strategy reflects a balance between trade diplomacy and domestic political economy of farming.

India has opened non-sensitive segments of agriculture while ring-fencing staple crops and livelihood-critical sectors.

What India has agreed to open

India has committed to reducing or removing tariffs on a limited basket of US agricultural and food products, including:

• Animal feed inputs
  • Distillers’ Dried Grains with Solubles (DDGS)
  • Red sorghum
• Edible oils
  • Soybean oil
• High-value / non-staple products
  • Tree nuts (almonds, walnuts, pistachios)
  • Fresh and processed fruits
  • Wine and spirits

Why these were chosen

• These items:
  • Are not central to India’s food security
  • Have limited farmer footprint
  • Support downstream sectors (poultry, dairy, food processing)
• Cheaper feed inputs can lower costs for livestock and aquaculture, aligning with protein-consumption goals.

What India has protected

India has explicitly kept out key sensitive agricultural sectors from tariff concessions:

• Food staples: rice, wheat, sugar
• Feed and oilseed crops: maize, whole soybean
• Dairy and poultry
• Fuel ethanol
• Meat and other politically sensitive farm products

Who gains and who faces pressure

Likely gainers

• Poultry and dairy industries (cheaper feed)
• Food processors and beverage industry
• Urban consumers (greater variety, price competition)

Potentially affected

• Domestic oilseed processors
• Certain feed manufacturers
• Farmers in niche crops facing import competition

What this tells us about India’s trade strategy

• India is not anti-trade, but risk-averse on agriculture
• Liberalisation is:
  • Product-specific
  • Input-oriented
  • Politically sequenced
• Reflects a shift from:
  • “All-or-nothing” stance
    → to managed openness

2. GM Crops

Context:

The issue has resurfaced after the India–US interim trade framework released by the White House, where genetically modified (GM) crops are central to American agriculture.

Rather than being a threat, the editorial argues this moment offers India a policy reset opportunity — to revisit long-standing biases against GM technology and reassess its role in food security, sustainability, and competitiveness.

What are GM crops?

Genetically Modified (GM) crops are plants whose genetic material has been artificially altered using biotechnology to introduce desirable traits such as:

• Pest resistance
• Herbicide tolerance
• Improved nutrition
• Stress tolerance (drought, salinity)

This is done through recombinant DNA technology, unlike conventional breeding.

Why does India need GM crop technology?

1. Food security pressures

• Rising population
• Climate stress
• Stagnating yields
• Shrinking land and water availability

GM crops can:

• Improve yields
• Enhance pest resistance
• Reduce chemical pesticide use
• Increase resilience to climate variability

India’s refusal to even test many GM crops risks making agriculture uncompetitive and resource-intensive.

2. Global reality vs Indian hesitation

• GM crops are now widely adopted worldwide
• Even the developing world is embracing biotech
• India — despite its strong scientific base — has become an unlikely holdout

The paradox: India needs the technology but refuses to scientifically evaluate it.

What has caused the policy logjam?

The editorial identifies three core reasons:

1. Wrong categorisation of GM crops

GM crops have been politically framed as environmentally hazardous, rather than being evaluated case-by-case on scientific evidence.

This blanket suspicion ignores:

• Crop-specific impacts
• Differences between traits (pest resistance vs herbicide tolerance)
• Potential environmental benefits

2. Regulatory paralysis

Environmental “protection” has been enforced via administrative orders, not legislation.

This has:

• Rendered India’s GM regulator ineffective
• Created uncertainty for researchers
• Prevented field trials and evidence generation

An indefinite moratorium on testing means policy decisions are being made without data.

3. Centre–State conflict

• GM regulation is driven by the Centre
• Field trials are resisted by States
• This federal tension blocks experimentation

The result is a system where no authority can decisively act, leading to policy drift.

What does the editorial recommend?

1. Let scientists decide

• Regulatory decisions must be science-led
• Politicians should not substitute evidence with ideology

2. Restore regulatory credibility

• Replace ad-hoc administrative bans with clear legislation
• Enable transparent testing and risk assessment

3. Build informed public choice

• Allow data-based debate
• Let consumers and farmers decide, backed by evidence

4. Use the US trade deal as a re-entry point

• The trade framework offers diplomatic cover to restart GM evaluation
• India can reassess without appearing to “concede”

3. Central Sector Scheme of Formation and Promotion of 10,000 Farmer Producer Organizations (FPOs)

Source: PIB

Context:

The Government of India has completed the formation of 10,000 Farmer Producer Organisations (FPOs) under this central sector scheme. Notably, 21.96 lakh women farmers are members, underlining the scheme’s strong gender inclusion focus (PIB).

What is the Scheme?

The Central Sector Scheme of Formation and Promotion of 10,000 FPOs aims to collectivise small and marginal farmers into formal producer organisations so they can:

• Aggregate produce
• Access credit and technology
• Undertake processing and value addition
• Gain stronger market bargaining power

Launch Details

• Launched on: 29 February 2020
• Nature: Central Sector Scheme (100% funded by Centre)

Implementing Agencies (IAs)

• Small Farmers’ Agribusiness Consortium (SFAC)
• National Bank for Agriculture and Rural Development (NABARD)
• National Cooperative Development Corporation (NCDC)
• National Agricultural Cooperative Marketing Federation of India (NAFED)

Aim of the Scheme

To build a sustainable, income-oriented farming ecosystem by:

• Strengthening farmer collectives
• Improving access to inputs, institutional credit, technology
• Integrating farmers with value chains and markets
• Enhancing farmers’ bargaining power and resilience

Key Features of the Scheme

1. Cluster & Commodity-Based Approach

• FPOs formed around produce clusters
• Aligned with One District One Product (ODOP)
• Encourages scale, specialisation, and efficiency

2. Financial Support

a) Handholding Support

• Up to ₹18 lakh per FPO
• For 3 years
• Covers professional management, accounting, compliance, and business planning

b) Equity Grant

• Matching equity grant up to ₹15 lakh per FPO
• Limited to ₹2,000 per farmer
• Strengthens FPO balance sheets

c) Credit Guarantee

• Credit guarantee cover up to ₹2 crore per FPO
• For institutional project loans
• Reduces lending risk and improves credit access

3. Market Linkages

• NAFED-led forward linkages
• Integration with:
  • Input suppliers
  • Processors
  • Bulk buyers
  • Export markets
• Focus on value-chain participation, not just aggregation

4. Capacity Building

• Structured training programmes through:
  • BIRD, Lucknow
  • LINAC, Gurugram
• Training for:
  • Board members
  • CEOs
  • Farmer shareholders

5. Inclusion Focus

• High participation of women farmers
• Coverage of:
  • Aspirational districts
  • Tribal and backward regions
• Promotes social and regional equity

Facts To Remember

1. Soraya Aghaei Hajiagha Elected as Iran’s First Female IOC Member

In February 2026, Soraya Aghaei Hajiagha was elected as the 107th member of the International Olympic Committee (IOC) at the 145th IOC Session in Milan, Italy. She is the first Iranian woman and the youngest current IOC member. A former badminton Olympian (Tokyo 2020), she previously served on the IOC Athletes’ Commission.

2. Agni-3 Missile Successfully Test-Fired

On 6 February 2026, India successfully test-fired the Agni-3 Intermediate Range Ballistic Missile from Chandipur, Odisha. Developed by DRDO, the missile has a range of 3,000–3,500 km and strengthens India’s strategic deterrence. The test was conducted under the Strategic Forces Command.

3. India Wins ICC U19 Men’s Cricket World Cup 2026

India won its record sixth ICC U19 Men’s Cricket World Cup by defeating England by 100 runs in the final held in Harare, Zimbabwe. Vaibhav Suryavanshi starred with a historic 175 runs and was named Player of the Match and Player of the Tournament.

4. Goa Publishes State-Level Bird Atlas

In February 2026, Goa became the second Indian state after Kerala to publish a comprehensive Bird Atlas. Released during the 9th Bird Festival of Goa, the atlas supports biodiversity conservation and citizen-led research.

5. NeVA Launched at Bihar Assembly

Lok Sabha Speaker Om Birla launched the National e-Vidhan Application (NeVA) at the Bihar Assembly in Patna, marking a key step towards paperless and digital legislative functioning.

6. India Joins BRICS Centre for Industrial Competencies

India joined the BRICS Centre for Industrial Competencies (BCIC) at an event organised by DPIIT in New Delhi. The centre, launched with UNIDO, will support manufacturing firms and MSMEs with Industry 4.0 capabilities, with the National Productivity Council designated as India’s nodal centre.

7. MSDE Partners with IPE Global for Women-Centric Skilling

The Ministry of Skill Development and Entrepreneurship signed an MoU with IPE Global to strengthen women-focused skilling initiatives. The partnership aims to improve programme design, boost women’s participation in emerging job roles, and enhance employability linkages.

8. Delhi Ranked World’s Most Affordable City for International Students

Delhi was ranked the world’s most affordable city for international students in the QS Best Student Cities 2026 report. The study by Knight Frank, Deloitte India, and QS assessed 150 cities across affordability, education quality, and student experience.

9. President Droupadi Murmu Inaugurates Bastar Pandum 2026

President Droupadi Murmu inaugurated the Bastar Pandum-2026 tribal cultural festival in Jagdalpur, Chhattisgarh. The festival showcases tribal art forms, folk traditions, and indigenous culture, with participation from over 700 artists.

10. Government Sanctions Over 3.87 Crore Houses Under PMAY-G

The Government of India has sanctioned over 3.87 crore houses under PMAY-Gramin. As of February 2026, more than 2.95 crore houses have been completed, advancing the target of 4.95 crore rural houses by March 2029.

11. RBI Approves Blackstone’s Investment in Federal Bank

The RBI approved Blackstone’s ₹6,196 crore investment to acquire up to 9.99% stake in Federal Bank. The move makes Blackstone the largest shareholder and reflects rising foreign interest in India’s banking sector.

12. India and GCC Sign ToR for Free Trade Agreement

India and the Gulf Cooperation Council signed the Terms of Reference to begin negotiations for an India–GCC Free Trade Agreement. The proposed FTA is expected to deepen trade ties, with India–GCC trade valued at USD 178.56 billion in FY25.

13. Axis Bank Launches Rooftop Solar Finance for MSMEs

Axis Bank introduced Rooftop Solar Finance to help MSMEs adopt solar energy. The scheme offers collateral-free loans of ₹10 lakh to ₹2 crore with flexible repayment periods of 4–7 years.

14. Equitas SFB Partners with Bharti AXA Life

Equitas Small Finance Bank partnered with Bharti AXA Life Insurance to offer life insurance products through its nationwide branch network. The initiative aims to improve insurance penetration and long-term financial security.

15. RBI Imposes Compounding Fee on Paytm for FEMA Violations

The RBI imposed a ₹18.76 lakh compounding fee on Paytm for FEMA-related violations. Paytm clarified that the issue has been resolved through the compounding process without operational impact.

16. Royal Challengers Bengaluru Win WPL Title

Royal Challengers Bengaluru won their second Women’s Premier League title by defeating Delhi Capitals in the final. Smriti Mandhana starred with a match-winning innings in the chase.

17. India Successfully Test-Fires Agni-III Missile

India successfully test-fired the Agni-III intermediate-range ballistic missile from Odisha. The test validated operational readiness and strengthened India’s strategic deterrence capability.

18. International Day of Zero Tolerance for Female Genital Mutilation

The International Day of Zero Tolerance for Female Genital Mutilation is observed annually on 6 February. The UN-led observance aims to eliminate FGM and promote women’s human rights worldwide.

Daily Current Affairs Quiz
10 February, 2026

International Affairs

1. India–Malaysia IMPACT Framework

Source: Mint

Why in News?

During his visit to Malaysia, the Prime Minister of India articulated IMPACT as the guiding framework for India–Malaysia relations while addressing the Indian diaspora in Kuala Lumpur.

What is the IMPACT Framework?

IMPACT stands for India–Malaysia Partnership for Advancing Collective Transformation.

It is a strategic vision to deepen bilateral cooperation by aligning:

• Economic growth
• Digital integration
• Cultural–civilisational ties
• People-centric development

Aims of the Framework

• Accelerate the pace and scale of bilateral cooperation
• Deliver tangible outcomes for citizens of both countries
• Position India–Malaysia ties as a driver of Asia’s collective growth

Key Pillars of IMPACT

1. Economic & Technology Cooperation

2. Digital Connectivity

3. People-to-People & Diaspora Linkages

4. Cultural & Civilisational Bonds

5. Strategic & Regional Outlook

2. USGBC LEED List 2025

Why in News?

In February 2026, the United States Green Building Council (USGBC) and Green Business Certification Inc. (GBCI) released the Annual List of 10 Countries and Regions for LEED in 2025 (outside the USA).

India climbed to 2nd position, while Mainland China topped the list.

What is LEED?

Leadership in Energy and Environmental Design (LEED) is a globally recognised green building certification system that evaluates buildings on sustainability parameters such as:

• Energy efficiency
• Water conservation
• Sustainable site development
• Material selection
• Indoor environmental quality

Key Highlights of the 2025 Ranking

Top Countries (Outside USA)

1. China (Mainland China)
   • 1st Position
   • 26,645,737 Gross Square Meters (GSM)
   • 1,939 projects
2. India
   • 2nd Position (up from 3rd in 2024)
   • 16,111,512 GSM
   • 611 projects
3. Canada
   • 3rd Position
   • 8,450,146 GSM
   • 288 projects
4. South Korea (Republic of Korea)
   • 3,879,192 GSM
   • 100 projects
5. Mexico
   • 3,294,953 GSM
   • 144 projects
6. Hong Kong Special Administrative Region
   • 3,158,950 GSM
   • 96 projects
7. Brazil
   • 2,933,631 GSM
   • 171 projects
8. Vietnam
   • 2,602,797 GSM
   • 100 projects
   • Debuted in Top 10
9. Sweden
   • 2,564,921 GSM
   • 183 projects
10. United Arab Emirates

• 2,251,714 GSM
• 174 projects

National Affairs

1. Nature-based Solutions (NbS) in Focus after TREESCAPES 2026 Congress

Why in News?

Nature-based Solutions (NbS) gained prominence at the TREESCAPES 2026 Congress (New Delhi), which highlighted agroforestry’s role in climate resilience. This coincided with the release of the United Nations Environment Programme (UNEP) – State of Finance for Nature 2026 report, warning of a large global investment gap in nature-positive actions.

What are Nature-based Solutions (NbS)?

According to the International Union for Conservation of Nature (IUCN):

• NbS are actions to protect, sustainably manage, and restore natural or modified ecosystems
• They address societal challenges such as:
  • Climate change
  • Food and water security
  • Disaster risk reduction
• Core feature:
  • Simultaneous benefits for human well-being and biodiversity

Key Data & Global Significance

• Climate mitigation:
  NbS can deliver up to 37% of cost-effective CO₂ mitigation needed by 2030 to keep warming below 2°C.
• Economic value:
  Mangroves avert $57 billion annually in global flood damages, protecting 18+ million people.
• Finance gap:
  For every $1 invested in nature, nearly $30 is spent on nature-negative activities (UNEP, 2026).
• Investment need:
  NbS funding must triple to $571 billion/year by 2030.
• India’s status:
  India ranks 9th globally in forest area; forest & tree cover = ~25.17% of geographical area.

Why NbS are Critical for India

1. Climate Change Mitigation

• Forests, wetlands, and soils act as carbon sinks.
• Example: Ek Ped Maa Ke Naam (2025) → 262.4 crore saplings, strengthening India’s carbon sink.

2. Disaster Risk Reduction

• Ecosystems buffer extreme events.
• Example: MISHTI (Mangrove Initiative for Shoreline Habitats & Tangible Incomes) protects coastal Odisha & West Bengal from cyclonic surges.

3. Water Security

• Restored watersheds enhance groundwater recharge.
• Example: Jakkur Lake rejuvenation (Bengaluru) improved water tables and reduced floods.

4. Sustainable Livelihoods

• NbS generate jobs in:
  • Eco-tourism
  • Sustainable forestry
  • Organic agriculture
• Example: MGNREGS increasingly funds natural resource management.

5. Food Security & Agroforestry

• Trees on farms improve:
  • Soil fertility
  • Crop resilience
• TREESCAPES 2026 insight:
  Agroforestry contributes ~20% of India’s national carbon stocks, supporting marginal farmers.

2. Seven Chakras of the India–AI Impact Summit 2026

Source: PIB

Context:

India is hosting the India–AI Impact Summit 2026, the first global AI summit in the Global South, with participation from 100+ countries.
The summit is guided by Three Sutras: People, Planet, Progress, and operationalised through Seven Chakras.

India–AI Impact Summit 2026

• Held from 16–20 February 2026 in New Delhi
• Organised under the IndiaAI Mission of the Government of India
• Venue: Bharat Mandapam
• First major global AI summit hosted by a Global South country
• Focus shifts from AI discussion to AI implementation and real-world impact

What are the Seven Chakras?

• The Seven Chakras are thematic Working Groups.
• They convert high-level AI principles into:
  • Policy frameworks
  • Governance norms
  • Implementation pathways
• Objective:
  • Enable responsible, inclusive, and development-oriented AI at a global scale, especially for developing countries.

Seven Chakras of AI

Chakra	Focus Area	Key Significance
1. Human Capital	Workforce transition, reskilling & upskilling	Prevents job displacement shocks; positions India as a global AI talent hub
2. Inclusion for Social Empowerment	Women, farmers, informal workers, PwDs, linguistic minorities	Ensures equity in AI systems; prevents elite-centric adoption
3. Safe & Trusted AI	Transparency, accountability, bias mitigation	Builds public trust; protects democracy, privacy & fundamental rights
4. Science	Health, climate, energy, agriculture	Accelerates innovation; reduces Global North–South research divide
5. Resilience, Innovation & Efficiency	Energy-efficient AI, sustainable compute infrastructure	Aligns AI growth with climate commitments; reduces carbon footprint
6. Democratising AI Resources	Access to data, compute & models	Bridges digital divide; supports startups & academia
7. AI for Economic Development & Social Good	Agriculture, healthcare, education, justice delivery, productivity	Converts AI capability into development outcomes

3. India–Greece Sign Joint Declaration of Intent on Defence Cooperation

Source: The Indian Express

Why in News?

India and Greece have signed a Joint Declaration of Intent (JDI) to strengthen defence and defence-industrial cooperation, signalling deeper strategic engagement between the two countries.

What was agreed?

• India and Greece signed a Joint Declaration of Intent (JDI) on defence cooperation.
• The agreement aims to:
  • Deepen defence industrial collaboration
  • Enhance military-to-military engagement
  • Promote long-term strategic cooperation
• The JDI provides a framework for a five-year roadmap for defence industrial ties.

Key Areas of Cooperation

1. Defence Industrial Collaboration: India’s Aatmanirbhar Bharat initiative and Greece’s Agenda 2030 defence modernisation plan

2. Military Cooperation: Exchange of a Bilateral Military Cooperation Plan (BMCP) for 2026

3. Maritime Security Cooperation: Greece to post an International Liaison Officer at India’s
Information Fusion Centre – Indian Ocean Region (IFC-IOR) in Gurugram.

4. Government Forms Expert Groups to Upgrade Project Tiger

Source: The New Indian Express

Why in News?

The Union Government has constituted four expert working groups to review and modernise Project Tiger, marking 50 years (Golden Jubilee) of India’s flagship wildlife conservation programme.

What is Project Tiger?

Project Tiger is a Centrally Sponsored Scheme aimed at conserving tigers and their habitats through a scientifically designed core–buffer approach.

• Launched: 1973
• Significance: One of the earliest large-scale species conservation programmes in the world

Institutional Framework

• Nodal Ministry: Ministry of Environment, Forest and Climate Change (MoEFCC)
• Implementing Authority:National Tiger Conservation Authority (NTCA)
  • Statutory body under the Wildlife (Protection) Act, 1972

5. PM Internship Scheme

Source: BS

Why in News:

The Ministry of Corporate Affairs (MCA) has proposed changes to the Prime Minister Internship Scheme (PMIS) to improve participation and effectiveness, including easing the age limit and internship duration.

What changes are being proposed?

• The MCA has submitted a note to the Expenditure Finance Committee (EFC) proposing:
  • Reduction in age limit for eligibility
  • Shortening of internship duration
• Rationale:
  • Make the scheme more attractive and accessible
  • Address issues identified during the pilot (dry run) phase
• The government intends to test these changes during the pilot stage before full-scale rollout.

About the PM Internship Scheme (PMIS)

• Announced in Union Budget, July 2024
• Objective:
  • Provide internship opportunities to 1 crore (10 million) youth
  • Over five years
  • Across top 500 companies
• Aim:
  • Enhance employability
  • Bridge gap between education and industry
  • Promote corporate participation in skilling

Banking/Finance

1. RBI Directs Banks to Offer Collateral-Free Loans up to ₹20 Lakh to MSMEs

Source: Mint

Why in News?

The Reserve Bank of India has issued revised directions asking banks not to insist on collateral security for loans up to ₹20 lakh to Micro and Small Enterprises (MSEs), enhancing access to formal credit.

What has the RBI decided?

• RBI directed banks to:
  • Extend collateral-free loans up to ₹20 lakh to all Micro and Small Enterprise (MSE) units.
  • Provide collateral-free loans up to ₹20 lakh to units financed under the Prime Minister Employment Generation Programme (PMEGP).
• The decision was notified through:
  • Lending to Micro, Small & Medium Enterprises (MSME) Sector (Amendment) Directions, 2026

Additional Flexibility for Banks

• Banks may:
  • Increase the collateral-free limit to ₹25 lakh
  • Condition:
    • Good repayment track record
    • Sound financial position of the MSE
    • As per the bank’s internal credit policy
• Banks can also:
  • Avail coverage under Credit Guarantee Schemes, where applicable

Important Clarification by RBI

• Voluntary pledging of:
  • Gold or silver
• For loans within the collateral-free limit:
  • Will NOT be treated as a violation of RBI’s directions
• This ensures:
  • Borrower flexibility
  • No coercive collateralisation by banks

Coverage under PMEGP

• PMEGP is administered by the Khadi and Village Industries Commission (KVIC).
• RBI mandated:
  • Universal collateral-free lending up to ₹20 lakh for all PMEGP-financed units

2. RBI Consumer Confidence Survey, January 2026

Source: RBI Consumer Confidence Survey, January 2026

Why in News?

The Reserve Bank of India (RBI) released the results of the January 2026 round of its Bi-monthly Urban Consumer Confidence Survey (UCCS).

About Urban Consumer Confidence Survey (UCCS)

• Conducted bi-monthly by RBI.
• Measures households’ perceptions about:
  • General economic situation
  • Employment scenario
  • Price levels
  • Own income
  • Spending
• Captures both:
  • Current perceptions (vis-à-vis one year ago)
  • One-year ahead expectations
• Latest round conducted during January 2–11, 2026.
• Covered 5,933 respondents across 19 major cities.

Key Findings:

• According to the Reserve Bank of India’s Consumer Confidence Survey (January 2026), rural consumers remain relatively optimistic, while urban consumers continue to be cautious.
• Urban consumers show negative sentiment regarding:
  • Overall economic situation
  • Employment opportunities
  • Price levels
• Their Consumer Confidence Index remains in the negative zone, with pessimism deepening compared to the previous survey round.

Current Situation Index (CSI)

• January 2026: 98.1
• Previous round: 98.4
• Marginal decline.
• Below 100 → Indicates pessimistic sentiment about present economic conditions.

Future Expectations Index (FEI)

• January 2026: 123.4
• Declined by 2.2 points from previous round.
• Still above 100 → Indicates optimism about future.
• Decline mainly due to weaker expectations regarding:
  • General economic conditions
  • Income
  • Price levels

3. Taxpayers to Continue Using Existing ITR Forms for FY26

Source: BS

Why in News?

The Central Board of Direct Taxes (CBDT) has clarified that taxpayers will continue using existing Income Tax Return (ITR) forms for FY 2025–26, even as new simplified transactional forms and rules are set to be notified by early March 2026.

What is the clarification by CBDT?

• Existing ITR forms will remain applicable for:
  • Income earned in FY26
  • Assessment Year (AY) 2026–27
• Returns filed in July–August 2026 will continue under the current ITR format.
• This addresses concerns about:
  • Transitional overlap
  • System readiness for taxpayers and intermediaries

What is changing from April 1, 2026?

From April 1, 2026, certain transactional and reporting forms will move to the new simplified framework, including:

• TDS statements
• Foreign remittance reporting
• Form 60
• Form 15G / Form 15H
• Forms for lower or nil withholding applications

These changes will apply immediately, even before new ITRs come into effect.

4. EPFO to Appoint New Partner Agencies; Custodian Likely to Change After 15 Years

Source: BS

Why in News:

The Employees’ Provident Fund Organisation (EPFO) has initiated steps to appoint new partner agencies, including a new custodian for its funds, marking the first such change in nearly 15 years.

About EPFO

• Statutory body under the Ministry of Labour and Employment.
• Administers retirement savings schemes such as:
  • Employees’ Provident Fund (EPF)
  • Employees’ Pension Scheme (EPS)
  • Employees’ Deposit Linked Insurance (EDLI)
• One of the world’s largest social security organisations.

Role of a Custodian

A custodian:

• Safeguards financial securities (government bonds, equities, etc.).
• Handles settlement of trades.
• Ensures compliance and record maintenance.
• Facilitates smooth investment operations.

Who is the current custodian?

• Standard Chartered Bank is the current custodian of EPFO funds.
• Appointed in November 2011
• Responsible for:
  • Holding
  • Safeguarding
  • Settling transactions of EPFO’s ₹31 trillion corpus

5. RBI Streamlines Voluntary Retention Route (VRR) for FPIs

Source: BS

Why in News?

The Reserve Bank of India (RBI) has streamlined the Voluntary Retention Route (VRR) for Foreign Portfolio Investors (FPIs) by removing the overall investment cap and effectively merging VRR investments with the general investment route.

What has the RBI changed?

• Removed the overall VRR investment cap of ₹2.5 trillion
• Existing VRR investments will:
  • Automatically migrate to the general route from April 1
  • Not require unwinding or fresh approvals
• This eliminates:
  • Parallel investment limits
  • Dual-track regulatory frameworks for FPIs in debt markets

What does this mean for FPIs?

1. Unified Investment Framework

• All foreign investments made earlier under VRR:
  • Government securities
  • Treasury Bills
  • State Development Loans (SDLs)
  • Corporate bonds
• Will now be counted under general route limits

2. Greater Exit Flexibility

• Minimum retention requirement remains
• However:
  • FPIs who voluntarily opted for longer lock-in periods can now:
    • Exit fully or partially
    • After completing the minimum holding period
• Earlier, such investors were compelled to remain invested for the entire extended lock-in.

What is the VRR?

• The Voluntary Retention Route (VRR) is a special investment channel introduced by the Reserve Bank of India (RBI) in 2019 to encourage stable, long-term investments by Foreign Portfolio Investors (FPIs) in India’s debt markets.
• Objective:
  • Attract stable, long-term foreign capital into India’s debt market
• Incentive:
  • Regulatory relaxations in return for:
    • Commitment to retain investments for a specified period
• Earlier features:
  • Minimum retention period: 3 years
  • Mandatory retention: 75% of committed portfolio
  • Overall cap: ₹2.5 trillion
    • Government securities: ₹40,000 crore
    • Corporate debt: ₹35,000 crore

6. SEBI Proposes Sharp Cut in Minimum Investment for Social Impact Funds

Source: ET

Why in News:

The Securities and Exchange Board of India (SEBI) has proposed reducing the minimum investment amount for individual investors in Social Impact Funds (SIFs) to ₹1,000, from the existing ₹2 lakh.

What is SEBI proposing?

• Minimum investment by individuals in SIFs:
  • Proposed: ₹1,000
  • Current: ₹2 lakh
• Objective:
  • Enable retail participation
  • Broaden the investor base for social-sector securities
• The proposal is part of SEBI’s consultation framework on expanding access to social finance.

What are Social Impact Funds (SIFs)?

• A category under Alternative Investment Funds (AIFs)
• Purpose:
  • Channel capital towards:
    • Non-profit organisations
    • Social enterprises
    • Projects with measurable social outcomes
• Investments typically focus on:
  • Education
  • Healthcare
  • Livelihoods
  • Financial inclusion
  • Climate and sustainability-linked social projects

Agriculture

1. Nationwide Pulse Self-Reliance Mission

Source: News on Air

Why in News?

On February 7, 2026, Union Minister Shivraj Singh Chouhan launched the Nationwide Pulse Self-Reliance Mission at the Food Legumes Research Centre (FLRP), Amlaha in Sehore, Madhya Pradesh.

About the Pulse Self-Reliance Mission

The mission has been launched by the Ministry of Agriculture and Farmers’ Welfare with the objective to:

• Achieve self-reliance in pulse production.
• Transform India into a global exporter of pulses.
• Strengthen farmer livelihoods and the domestic pulses value chain.

Key Features

1. Cluster-Based Production Model
   • Focused cultivation in identified clusters to increase productivity and efficiency.
2. Establishment of Seed Villages
   • Local production and distribution of high-quality seeds.
   • Ensures availability of improved crop varieties.
3. Establishment of 1,000 Pulse Mills
   • 55 mills to be set up in Madhya Pradesh.
   • Government subsidy up to ₹25 lakh per mill.
   • Encourages local processing, value addition, and employment generation.
4. Strengthening Research–Farmer Linkages
   • Promotes adoption of scientific methods and improved technologies.

Facts To Remember

1. Ajith wins elite men’s 71kg gold with new mark in snatch

N. Ajith created a new snatch record while totalling 320kg to take the elite men’s 71kg gold medal at National weightlifting championships in Modinagar.

2. Manu Bhaker Misses Gold in Shoot-off; Esha Singh Wins 25m Pistol Bronze

Manu Bhaker narrowly missed the gold medal in the women’s 25m pistol after losing to Nguyen Thuy Trang in a double shoot-off. Esha Singh secured the bronze medal, her second individual medal of the championship.

3. Moody’s Projects India’s GDP Growth at 6.4% in FY27

Moody’s Ratings has projected India’s GDP growth at 6.4% in FY27, the highest among G-20 economies, highlighting strong domestic fundamentals and banking sector resilience.

4. Zetwerk Electronics Inaugurates New Manufacturing Facility in Bengaluru

Union Minister Ashwini Vaishnaw inaugurated Zetwerk Electronics’ ₹100 crore advanced manufacturing facility at KIADB Hi-Tech, Bengaluru. The unit will serve defence, aerospace, automotive, IT hardware, medical devices, and telecom sectors, and is equipped with SMT and FATP capabilities; he also launched Qualcomm’s 2nm chip design.

5. Foundation Stone Laid for India’s First Quantum Valley in Amaravati

Union MoS Dr. Jitendra Singh and AP CM N. Chandrababu Naidu laid the foundation for Amaravati Quantum Valley under the National Quantum Mission. The project will host a 133-qubit quantum computer with partners like IBM and TCS, aiming to boost R&D, innovation, and skill development in quantum technologies.

6. Rail Projects and New Train Service Inaugurated in West Bengal

Ashwini Vaishnaw virtually inaugurated the Siuri and Kumarpur Road Over Bridges and flagged off the Asansol–Bokaro train. The projects aim to improve regional connectivity, ease traffic congestion, and strengthen interstate economic links between West Bengal and Jharkhand.

7. ‘iLive Connect’ AI-Powered Home Healthcare Ecosystem Launched

India launched ‘iLive Connect’, a doctor-led AI-powered home healthcare system for continuous remote monitoring. Using certified wearable devices, it tracks vital health parameters and connects patients to a central medical command centre for 24/7 supervision.

8. Transcorp International Gets RBI’s In-Principle Approval for CPS

Transcorp International received RBI’s in-principle approval to participate in Centralized Payment Systems. The authorisation enables RTGS and NEFT access, enhancing its payment infrastructure, operational efficiency, and regulatory compliance.

9. Japan’s Ruling Party Wins Snap Elections

Japan’s Liberal Democratic Party led by PM Sanae Takaichi secured a landmark victory in snap elections. The LDP won 316 seats in the 465-member lower house, achieving a strong majority along with its coalition partners.

10. Anutin Charnvirakul Wins Thailand’s General Election

Thailand’s Bhumjaithai Party led by Anutin Charnvirakul won the 2026 general election. The party secured 194 seats in the 500-member House of Representatives, emerging as the largest party to form the government.

11. New Marine Worm and Dragonfly Species Discovered

Researchers from the Zoological Survey of India discovered two new marine worm species in West Bengal and a new dragonfly species in Kerala. The findings highlight India’s rich biodiversity and ongoing taxonomic research efforts.

12. India Wins SAFF U-19 Women’s Football Championship

India defeated Bangladesh 4–0 to win the SAFF U-19 Women’s Championship 2026 in Nepal. The victory marked India’s third title in the tournament’s history.

13. Odisha Governor Releases Two Books by Former AP Governor

Odisha Governor Hari Babu Kambhampati released two books authored by Biswabhushan Harichandan. The books highlight Odisha’s historical legacy and reflections on democracy and cultural identity.

14. International Day of the Arabian Leopard – February 10

The International Day of the Arabian Leopard is observed annually on 10 February to promote conservation of the endangered subspecies. The day was officially recognised by the UN General Assembly in 2023.

15. India, UK sign Social Security Agreement for Temporary Employees

India today signed an Agreement on Social Security relating to Social Security Contributions with the United Kingdom and Northern Ireland in New Delhi.

16. 10.5 lakh govt servants trained under Rashtriya Karmayogi Large Scale Jan Seva Programme

Capacity Building Commission’s Rashtriya Karmayogi Large Scale Jan Seva Programme (Phase-II) concluded.

17. National Conference on Tackling Cyber-Enabled Frauds and Dismantling the Ecosystem inaugurated in New Delhi

Home Minister Amit Shah today inaugurated the National Conference on Tackling Cyber-Enabled Frauds and Dismantling the Ecosystem in New Delhi. 

18. India Showcases Defence Prowess at World Defence Show in Riyadh

India showcased its indigenous defence capabilities at the World Defence Show 2026 in Riyadh, Saudi Arabia. 

19. National Medicinal Plants Board to Hold Chintan Shivir in New Delhi Tomorrow

The National Medicinal Plants Board will organise a Chintan Shivir on Medicinal Plants tomorrow to deliberate on key policy, research, and implementation-related issues concerning the medicinal plants sector in the country in New Delhi.

20. NITI Aayog releases 4 study reports on Scenarios towards Viksit Bharat and Net Zero

NITI Aayog today released four study reports on Scenarios towards Viksit Bharat and Net Zero in New Delhi, focusing on sectoral insights in power, transport, industry, and critical mineral assessment on demand and supply.  

21. India conferred with ‘Country of the Year’ at BIOFACH 2026 in Germany

India has been conferred the prestigious ‘Country of the Year’ honour at BIOFACH 2026, the world’s leading trade fair for organic products, held in Nuremberg, Germany. 

22. Russia supports India’s BRICS Chairship agenda on counter-terrorism and energy security

Russia has said it will actively support India’s chairmanship of BRICS, describing New Delhi’s agenda as modern and highly relevant, with a strong focus on counter-terrorism and energy security.

Daily Current Affairs Quiz
11 February, 2026

National Affairs

1. Amendment on Information Technology Act, 2021

Source: TH

Why in News?

The Union Government has notified amendments to the Information Technology (Intermediary Guidelines and Digital Media Ethics Code) Rules, 2021, mandating prominent labelling of photorealistic AI-generated content. The amended provisions will come into force on February 20, 2026.

Key Provisions of the Amendment Rules, 2026

1. Mandatory Labelling of AI-Generated Content

• Social media platforms must clearly label photorealistic synthetic media.
• Applies to AI-generated content that appears real and indistinguishable from actual persons or events.
• A carve-out has been provided for routine smartphone image touch-ups and automatic enhancements.

2. Definition of Synthetic Media

The amended rules define synthetically generated content as:

• Audio, visual, or audio-visual information
• Artificially or algorithmically created, generated, modified, or altered
• Appearing real, authentic, or true
• Likely to be perceived as indistinguishable from a natural person or real-world event

The final definition is narrower than the draft version released in October 2025.

3. Reduced Takedown Timelines

The amendments significantly shorten the timeline for removal of unlawful content:

• Within 3 hours: Content declared illegal by a court or an “appropriate government.”
• Within 2 hours: Sensitive content such as non-consensual nudity and deepfakes.

Earlier, platforms were given 24–36 hours for content removal.

4. Safe Harbour Implications

• Non-compliance with the rules may result in loss of safe harbour protection.
• Safe harbour protects intermediaries from liability for user-generated content, provided due diligence norms are followed.

2. Corporate Average Fuel Efficiency (CAFE)-III

Why in News?

The proposal to relax emission targets for small cars under the upcoming Corporate Average Fuel Efficiency (CAFE)-III norms is still under discussion, according to the Power Ministry Secretary.

What are CAFE Norms?

CAFE (Corporate Average Fuel Efficiency) norms mandate automobile manufacturers to maintain a prescribed average fuel efficiency across their fleet of vehicles sold in a given year.

• Aim to reduce fuel consumption and carbon emissions.
• Encourage adoption of cleaner and more efficient technologies.
• Implemented in phases (CAFE-I, CAFE-II, and upcoming CAFE-III).

Background

• CAFE-I and CAFE-II progressively tightened fuel efficiency standards.
• CAFE-III is expected to introduce stricter emission and fuel efficiency targets in line with India’s climate commitments and energy transition goals.

3. Mangrove Clam (Geloina erosa)

Source: BL

Why in News?

The ICAR-Central Marine Fisheries Research Institute (CMFRI) has successfully achieved induced breeding of the mangrove clam under captive conditions, marking a rare global scientific breakthrough in molluscan aquaculture.

About Mangrove Clam

• Scientific name: Geloina erosa
• Also referred to under genus Polymesoda in some literature.
• Common name: Mangrove clam / Mud clam
• Local name (Kerala): “Kandal Kakka”

Habitat

• Found in mangrove and estuarine ecosystems of South and Southeast Asia.
• Lives in organic-rich muddy substrates of intertidal mangrove zones.
• Tolerates a wide salinity range (brackish to near-freshwater).
• Deep-burrowing, semi-infaunal species:
  • Adults typically inhabit landward zones.
  • Juveniles are less tide-dependent.

4. Network Readiness Index (NRI) 2025

Source: PIB

Why in News?

India improved its rank to 45th globally (up 4 places) in the Network Readiness Index (NRI) 2025, with its score rising to 54.43/100, reflecting stronger digital and network preparedness.

About Network Readiness Index (NRI)

The Network Readiness Index (NRI) is a global index that assesses how effectively countries leverage information and communication technologies (ICTs) to promote:

• Economic growth
• Innovation
• Governance efficiency
• Social development

Published by

Prepared by the Portulans Institute, an independent non-profit research and educational institution based in Washington, DC.

Aim of the Index

• Measure a country’s readiness to use digital networks and emerging technologies.
• Evaluate how ICT adoption translates into inclusive growth and societal impact.

India’s Performance in NRI 2025

Rank & Score

• Rank: 45th (up from 49th in 2024)
• Score: 54.43 (up from 53.63 in 2024)

Areas of Global Leadership

India ranked 1st globally in:

• Annual investment in telecommunication services
• AI scientific publications
• ICT services exports
• E-commerce legislation

Strong Infrastructure & Usage

India secured 2nd rank globally in:

• FTTH/building internet subscriptions
• Mobile broadband traffic
• International internet bandwidth

Market Scale

• Ranked 3rd in domestic market scale, reflecting India’s large digitally active population.

Income-Level Performance

• Ranked 2nd among lower-middle-income countries.
• Performance exceeds expectations relative to its income level.

5. Form 7 Controversy

Source: TH

Why in News?

Form 7 has become controversial during the ongoing Special Intensive Revision (SIR) of electoral rolls following allegations of bulk and fraudulent deletion requests targeting eligible voters.

What is Form 7?

Form 7 is a statutory form used to object to the inclusion of a name in the electoral roll.

It can be used to:

• Seek deletion of one’s own name.
• Object to another person’s inclusion on grounds such as:
  • Death
  • Duplication
  • Shifting of residence
  • Ineligibility due to age or citizenship
  • Misrepresentation

Legal Basis

• Governed by the Election Commission of India (ECI).
• Prescribed under the Registration of Electors Rules, 1960, framed under the Representation of the People Act, 1950.
• As per Section 13(2), objections must be filed by a person whose name is already included in the electoral roll.
• Booth Level Agents (BLAs) are also authorised to file objections.

Aim of Form 7

• Maintain accuracy and integrity of electoral rolls.
• Remove ineligible, duplicate, shifted, or deceased voters.
• Ensure free and fair elections by preventing electoral fraud.

6. Lyriothemis keralensis

Source: TOI

Why in News?

Researchers have discovered and formally described a new dragonfly species from Kerala, named Lyriothemis keralensis, highlighting the State’s rich but underexplored biodiversity.

About Lyriothemis keralensis

• A newly described species of dragonfly.
• Belongs to Order: Odonata (dragonflies and damselflies).
• Genus: Lyriothemis.
• Endemic to Kerala.

The species name keralensis reflects its geographical origin.

About Odonata

• Odonata includes dragonflies (Anisoptera) and damselflies (Zygoptera).
• Indicators of healthy freshwater ecosystems.
• Sensitive to pollution and habitat disturbance.
• Endemic species are vulnerable to habitat loss and climate change.

Banking/Finance

1. Sebi May Tighten Scrutiny of IPO and QIP Proceeds

Why in News?

The Securities and Exchange Board of India (SEBI) is considering tightening oversight norms for utilisation of funds raised through public and institutional issuances. At the same time, Gold ETFs have, for the first time, recorded higher net inflows than active equity mutual funds.

Part I: Sebi Proposes Stricter Monitoring of IPO, QIP and Rights Issue Proceeds

Proposed Changes

1. Lowering the Threshold
   • SEBI is examining reducing the threshold from ₹100 crore to ₹50 crore, or removing it entirely.
   • This would expand oversight to smaller issuers.
2. Direct Filing by Monitoring Agencies
   • Proposal to allow agencies to file monitoring reports directly with stock exchanges.
   • Aims to prevent delays and issuer interference.
3. Stronger Disclosure Norms
   • Currently, monitoring reports must be filed within 45 days of each quarter-end.
   • Delays and non-disclosures have limited investor transparency.
4. Tougher Penalties
   • Consideration of stricter action against companies that:
     • Fail to share information with monitoring agencies
     • Delay submissions
     • Withhold payments to agencies

Part II: Gold ETFs Surpass Equity Funds in Inflows

For the first time, Gold Exchange-Traded Funds (ETFs) attracted higher net inflows than active equity mutual funds.

• Gold ETFs (January 2026): ₹24,040 crore
• December 2025: ₹11,647 crore
• More than doubled month-on-month.

2. RBI Proposes Higher Unsecured Loan Cap for UCBs

Source: News on Air

Why in News?

The Reserve Bank of India (RBI) has issued draft norms proposing changes in the unsecured loan exposure limits for Urban Cooperative Banks (UCBs).

Higher Unsecured Loan Limit for Urban Cooperative Banks

Key Proposal

• The RBI has proposed raising the unsecured loans cap for UCBs to 20% of total advances of the preceding financial year, from the earlier limit of 10% of total assets.
• The move is part of revised draft norms to rationalise the definition of unsecured advances.

Individual Exposure Limits

Within the overall ceiling, individual unsecured loan limits will be:

• ₹5 lakh – Tier I UCBs
• ₹7.5 lakh – Tier II UCBs
• ₹10 lakh – Tier III & IV UCBs

What are Unsecured Loans?

Unsecured loans are loans that are not backed by collateral or security. The lender does not have any claim over a specific asset if the borrower defaults.

Examples of Unsecured Loans

• Personal loans
• Credit card loans
• Consumer durable loans
• Education loans (in many cases)
• Short-term business loans (without collateral)

3. Surplus Liquidity Fuels Record Parking in RBI’s SDF

Source: ET

Why in News?

Banks have parked a record ₹4.52 lakh crore in the Standing Deposit Facility (SDF) window of the Reserve Bank of India (RBI), amid surplus liquidity in the banking system.

What is the Standing Deposit Facility (SDF)?

• The Standing Deposit Facility (SDF) is a liquidity absorption tool introduced by the Reserve Bank of India (RBI) in April 2022 to manage excess liquidity in the banking system.
• Allows banks to park excess funds with RBI without providing collateral.
• SDF rate currently stands at 5%, which is:
  • 25 basis points below the policy repo rate (5.25%).
• It acts as the floor rate of the Liquidity Adjustment Facility (LAF) corridor.

Current LAF corridor structure:

• SDF (Floor): 5%
• Repo Rate (Policy Rate): 5.25%
• MSF (Ceiling): 5.50%

Why Was SDF Introduced?

• To absorb surplus liquidity efficiently.
• To reduce reliance on reverse repo (which requires collateral).
• To strengthen monetary policy transmission.
• To provide a stronger floor to short-term money market rates.

4. RBI Proposes Exempting Smaller NBFCs from Registration Requirement

Source: Mint

Why in News?

The Reserve Bank of India (RBI) has issued draft directions proposing to exempt certain small non-banking financial companies (NBFCs) from mandatory registration, citing their lower risk profile and limited systemic impact.

The draft norms are open for public comments until 4 March and are proposed to take effect from 1 April.

Key Proposal

NBFCs meeting the following criteria may be exempted from registration with RBI:

• Do not accept public funds
• Have no customer interface
• Have an asset size below ₹1,000 crore

These entities will be categorised as “Unregistered Type I NBFCs.”

Rationale

According to RBI:

• Such NBFCs primarily invest their own funds.
• They pose minimal systemic risk.
• Concerns relating to customer protection are not relevant.

The move is intended to reduce compliance burden and improve ease of doing business.

Scale-Based Regulation (SBR) Framework

In October 2021, RBI introduced the Scale-Based Regulatory Framework (SBR) for NBFCs, classifying them into:

• Base Layer (Type I NBFCs)
• Middle Layer
• Upper Layer
• Top Layer

Type I NBFCs (base layer) were recognised as low-risk entities deserving lighter regulation. The present draft operationalises this distinction by offering exemption from registration to eligible entities.

Definitions Clarified by RBI

Public Funds

Includes:

• Any funds from outside sources
• Indirect funds via associates or group entities
• Loans from directors or shareholders (treated as public funds)

Customer Interface

Includes:

• Lending
• Providing guarantees
• Offering financial products/services
• Transactions with group entities, directors, or shareholders

Exception:

• Employee loans provided under employment terms (non-commercial) are excluded.

Agriculture

1. Centre Set to Increase MSP for Minor Forest Produce

Source: ET

Why in News?

For the first time since the COVID-19 pandemic, the Union Government is set to increase the Minimum Support Price (MSP) for 87 Minor Forest Produce (MFP) items collected by forest dwellers. The revision is likely to be implemented from the next financial year.

Background

• The MSP for Minor Forest Produce scheme was launched in 2013–14 by the UPA government.
• The scheme aims to protect tribal gatherers from distress sales and exploitation by middlemen.
• MSP is fixed for identified MFP items collected by tribals in remote areas.
• If market prices fall below MSP, state agencies procure the produce.

The guidelines mandate revision of MSP every three years, but no revision has taken place in the last six years. The last hike occurred in May 2020 during the pandemic.

Key Developments

• The Ministry of Tribal Affairs has collected updated market price data from various states.
• The nodal agency, Tribal Cooperative Marketing Development Federation of India (TRIFED), has worked out the proposed increase.
• A notification is expected soon.
• The decision followed discussions in the Parliamentary Standing Committee on Social Justice and Empowerment, where concerns were raised about stagnant MSP pushing tribals toward middlemen.

About Minor Forest Produce (MFP)

Minor Forest Produce includes:

• Bamboo
• Tendu leaves
• Mahua seeds and flowers
• Lac
• Tamarind
• Sal seeds

These are critical sources of livelihood for forest-dwelling tribal communities.

Facts To Remember

1. Sofiya sets new World record on way to gold

Kazakhstan’s Sofiya Shulzhenko set a new World record in the 50m rifle 3 positions women’s event on her way to winning gold at the Asian Rifle/ Pistol Championship.

2. Unemployment Falls to 4.8% in Q3 FY26, Lowest in Three Quarters

India’s unemployment rate declined to 4.8% in Q3 (October–December) FY26, marking the lowest level in three quarters, according to the latest Periodic Labour Force Survey (PLFS) released by the National Statistics Office (NSO).

3. India Ranks 2nd Globally in Enterprise AI Usage: Zscaler Report

India has ranked second globally in enterprise Artificial Intelligence (AI) and Machine Learning (ML) transactions, according to the Zscaler ThreatLabz 2026 AI Security Report, released by Zscaler.

Key Findings:

• India ranked 2nd globally, after the United States, in enterprise AI/ML usage.
• Reflects rapid adoption of AI technologies across Indian enterprises.
• AI-driven transactions and deployment have grown significantly across sectors.

4. Revival in Private Investment: Key to Sustaining 7.4% Growth

India’s economy is projected to grow at 7.4% in FY26 (constant prices), up from 6.5% in FY25. A key driver in the post-pandemic phase has been sustained higher capital expenditure by the government, aimed at reviving growth and crowding in private investment.

5. Exercise Vayu Shakti to highlight success of Op Sindoor, reaffirming IAF’s dominance  in airspace 

  Indian Air Force (IAF) will demonstrate its precision targeting capabilities at Exercise Vayu Shakti to be held in Pokhran, Rajasthan, on the 27th of this month. 

6. DRDO signs agreement with Council of Scientific and Industrial Research for collaborative research

  Defence Research and Development Organisation (DRDO) has signed an agreement with Council of Scientific and Industrial Research for collaborative research, technology development and resource sharing to advance human sustenance and performance in extreme environments. 

7. Union Minister Prataprao Jadhav inaugurates Chintan Shivir on 25 years of National Medicinal Plants Board

Ayush Minister, Prataprao Jadhav, today inaugurated the Chintan Shivir on the completion of 25 years of the National Medicinal Plants Board (NMPB) in New Delhi. 

8. Union Minister Mansukh Mandaviya introduces Industrial Relations Code (Amendment) Bill, 2026 in Lok Sabha

The Industrial Relations Code (Amendment) Bill, 2026, was introduced in the Lok Sabha.

9. India signs agreement with UK & Northern Ireland on Social Security relating to Social Security Contributions

India has signed an Agreement on Social Security relating to Social Security Contributions with the United Kingdom and Northern Ireland. 

10. AIIA Signs MoU with General Insurance Council, Enables Cashless Ayurveda Treatment

All India Institute of Ayurveda (AIIA) under the Ministry of Ayush today signed a Common Empanelment Memorandum of Understanding (MoU) with the General Insurance Council (GIC) in New Delhi. 

11. Rajasthan Becomes India’s Largest Wool Producer

Rajasthan emerged as India’s largest wool producer with 16,013.50 thousand kg, contributing about 47.5% of total output. As per BAHS 2024–25, India produced 33.69 million kg of wool in FY24, with Jammu & Kashmir and Karnataka ranking second and third respectively.

12. IPC Signs Three MoUs to Strengthen Drug Safety

The Indian Pharmacopoeia Commission signed MoUs with GSPC, QCI, and HITES to enhance pharmacovigilance and medicine quality. The agreements focus on capacity building, infrastructure support, and public awareness on drug safety.

13. India and Greece Sign Defence Cooperation Declaration

India and Greece signed a Joint Declaration of Intent to boost defence industrial cooperation. The pact aims to create a 5-year roadmap aligning India’s Aatmanirbhar Bharat initiative with Greece’s defence reforms.

14. ADB Approves USD 182 Million Loan for Assam

The Asian Development Bank approved a USD 182 million loan to strengthen flood and erosion management along the Brahmaputra in Assam. The funding will expand riverbank protection and climate-resilient infrastructure measures.

15. RBI Approves Vijay Anandh as MD & CEO of City Union Bank

RBI approved the appointment of R. Vijay Anandh as MD and CEO of City Union Bank for three years from May 1, 2026. He will succeed Dr. N. Kamakodi, subject to shareholder approval.

16. Shikhar Dhawan Named Brand Ambassador of Delhi Khel Mahakumbh

Former cricketer Shikhar Dhawan was appointed brand ambassador of the inaugural Delhi Khel Mahakumbh. The grassroots sports festival aims to boost participation across multiple disciplines in Delhi.

17. ISRO Identifies Lander Site for Chandrayaan-4

ISRO identified Mons Mouton-4 near the Moon’s south pole as the landing site for Chandrayaan-4. The mission marks a key step toward India’s first lunar sample-return programme.

18. Aditya Pandya Becomes Youngest Indian Male Analog Astronaut

Seventeen-year-old Aditya Pandya from Gujarat became India’s youngest male analog astronaut after completing a lunar habitat simulation mission. The programme simulated Moon-like conditions to prepare for future space missions.

19. Services Win 8th Santosh Trophy Title

Services defeated Kerala 1–0 in extra time to win their eighth Santosh Trophy title in Assam. The championship is India’s premier senior national football tournament organised by AIFF.

20. National Deworming Day – February 10

National Deworming Day is observed on 10 February to protect children from intestinal worm infections. Launched in 2015, the programme provides Albendazole or Mebendazole tablets under the National Health Mission.

21. World Pulses Day – February 10

World Pulses Day is observed annually on 10 February to highlight the role of pulses in food security and sustainable agriculture. The 2026 theme was “Pulses of the World: From Modesty to Excellence.”

22. Gujarat Signs LoI with Starlink

The Government of Gujarat signed a Letter of Intent with Starlink to enhance satellite-based internet connectivity. The initiative will improve digital access in remote and aspirational districts, supporting Digital India goals.

Daily Current Affairs Quiz
12 February, 2026

International Affairs

1. Corruption Perceptions Index (CPI) 2025

Why in News?

In February 2026, Transparency International (TI) released the Corruption Perceptions Index (CPI) 2025, ranking countries based on perceived levels of public sector corruption.

India’s Performance

• Rank: 91st out of 182 countries
• Score: 39 out of 100
• Improvement of 5 places from last year (96th rank).
• Score increased by 1 point (from 38 to 39).

Global Highlights

• Global average score: 42 out of 100.
• Marked the lowest global average in over a decade, indicating worsening corruption perceptions worldwide.

Top Performing Countries

1. Denmark – Score: 89 (Retained top position for 8th consecutive year)
2. Finland – Score: 88
3. Singapore – Score: 84

About the Corruption Perceptions Index (CPI)

• Published annually by Transparency International, a Germany-based NGO.
• Measures perceived levels of public sector corruption.
• Scores range from:
  • 0 (highly corrupt)
  • 100 (very clean)
• Based on expert assessments and surveys of business leaders.

National Affairs

1. PLASTINDIA 2026 Held at Bharat Mandapam, New Delhi

Source: PIB

Why in News?

The 12th International Plastics Exhibition, Conference & Convention — PLASTINDIA 2026 — was held from February 5 to 10, 2026, at Bharat Mandapam, New Delhi. The event was inaugurated by Rekha Gupta, Chief Minister of Delhi.

About PLASTINDIA 2026

• “Bharat Next”
• Reflects the vision of Atmanirbhar Bharat and Viksit Bharat.
• Focus on strengthening India’s manufacturing ecosystem and global competitiveness.

Organisers

• Organised by the PlastIndia Foundation.
• Supported by:
  • Department of Chemicals & Petrochemicals (DCPC), Ministry of Chemicals & Fertilizers
  • Ministry of Commerce & Industry
  • Ministry of Micro, Small and Medium Enterprises (MoMSME)

Key Highlights

• Recognised as one of the world’s premier plastics exhibitions.
• Marked as the first 100% Zero-Waste plastics exhibition, promoting sustainability and circular economy practices.
• Showcased innovations in plastics manufacturing, recycling, and green technologies.

Major Announcements & Releases

Plastic Industry Status Report 2025

• Released by Union Minister Chirag Paswan (Ministry of Food Processing Industries).

Startup Search Initiative Awards

• Awards presented to winners of the Startup Search Initiative.
• Organised by PlastIndia Foundation in collaboration with:
  • IIM Calcutta Innovation Park (IIMCIP), Kolkata.

2. AIIA Signs MoU with GIC to Enable Cashless Ayush Treatment Across 32 Insurers

Source: News on Air

Why in News?

In February 2026, the All India Institute of Ayurveda (AIIA) signed a Memorandum of Understanding (MoU) with the General Insurance Council (GIC) to introduce cashless treatment facilities for eligible Ayurveda healthcare services.

Key Highlights of the MoU

Coverage and Benefits

• Enables access to cashless Ayurveda treatment under policies issued by 32 insurance companies.
• Enhances affordability of Ayush-based healthcare.
• Strengthens integration of traditional medicine systems with mainstream health insurance.

Ayush Health Insurance Helpline

• Government of India launched a dedicated helpline: 1800-11-0008.
• Aims to assist beneficiaries with Ayush health insurance-related queries.

About AIIA

• An apex institute under the Ministry of Ayush.
• Focuses on Ayurveda education, research, and clinical services.

About General Insurance Council (GIC)

• Established: 2001
• Headquarters: Mumbai, Maharashtra
• Chairman: Tapan Kumar Singhel
• Apex body representing general and health insurance companies in India.

3. Union MoS Jitin Prasada Launches STQC Lab Automation Portal ‘SATYA’

Source: News on Air

Why in News?

In February 2026, Union Minister of State Jitin Prasada (Ministry of Electronics & IT and Ministry of Commerce & Industry) inaugurated the STQC Lab Automation Portal ‘SATYA’ in New Delhi.

About SATYA Portal

Development

• Developed with technical support from the Centre for Development of Advanced Computing (C-DAC) under MeitY.

Purpose

• Digitises the entire certification lifecycle for electronics and IT products.
• Operates as a single-window automated platform.

Key Features

• Integration of:
  • Testing
  • Calibration
  • Inspection
  • Certification
  • Real-time tracking
• Reduces manual intervention and procedural delays.
• Modernises and streamlines service delivery.

Beneficiaries

• Industry and manufacturers
• Startups
• MSMEs
• Government departments
• Citizens

4. IAF and Royal Thai Air Force Conduct Joint In-Situ Air Exercise

Source: TOI

Why in News?

On February 10, 2026, the Indian Air Force (IAF) and the Royal Thai Air Force (RTAF) conducted a joint in-situ air exercise to enhance operational coordination and interoperability between the two forces.

About the India–Thailand In-Situ Exercise

• Training conducted under realistic operational conditions.
• Takes place at or near actual mission locations.
• Enhances real-time coordination rather than simulated practice.

Assets Deployed

Indian Air Force (IAF)

• Su-30MKI multirole fighter aircraft
• AWACS (Airborne Warning and Control System)
• AEW&C (Airborne Early Warning & Control)
• IL-78 mid-air refuelling aircraft

Royal Thai Air Force (RTAF)

• Gripen multi-role fighter aircraft (Sweden-made)

5. IAF’s Vayu Shakti 2026

Source: PIB

Why in News?

The Indian Air Force (IAF) will conduct its biennial firepower exercise Vayu Shakti 2026 on February 27 at the Pokhran air-to-ground range in Rajasthan. The exercise will prominently feature frontline fighter aircraft and highlight the operational success of Operation Sindoor.

About Vayu Shakti

• A biennial live firepower demonstration by the IAF.
• Held at the Pokhran Field Firing Range near the India-Pakistan border.
• Aims to demonstrate precision strike capability, rapid response, and integrated combat operations.

Major Platforms Participating

• Fighter aircraft: Rafale, Su-30MKI, LCA Tejas, MiG-29, Jaguar, Mirage-2000.
• Helicopters: Apache, Chinook, Light Combat Helicopter (Prachand), Advanced Light Helicopter.
• Transport aircraft: C-130J, C-17, and C-295 (making its debut).
• Air defence and weapons systems: Akash, SpyDer, loitering munitions, and counter-UAS systems.
• More than 120 air assets are expected to participate.

Banking/Finance

1. CPI Base Revision from 2012 to 2024

Why in News?

The Ministry of Statistics and Programme Implementation (MoSPI) is undertaking a base revision of the Consumer Price Index (CPI) from 2012 to 2024, aligning the index with changing consumption patterns and improving data collection methods.

What is CPI?

• The Consumer Price Index (CPI) measures changes in prices of goods and services consumed by households.
• It is the primary measure of inflation in India.
• Used by the Reserve Bank of India (RBI) to guide monetary policy decisions such as interest rates.
• Forms the basis for:
  • Dearness Allowance (DA) revisions
  • Wage adjustments
  • Social security benefits

Why Base Revision is Needed

• Since 2012, India’s economy has changed significantly:
  • Increased urbanisation
  • Expansion of services sector
  • Rise of digital platforms and online purchases
  • Diversified household spending patterns
• Inflation measurement must reflect current consumption realities, not outdated baskets.

Key Features of CPI 2024 Series

• Updated Consumption Basket
  • Based on the Household Consumption Expenditure Survey (2023–24).
  • Higher weight to items with increased spending.
  • Reduced weight to items with lower spending share.
  • Greater representation of services and lifestyle-related expenditure.
• Improved Methodology
  • Alignment with international statistical standards.
  • Retains India-specific features for domestic relevance.
• Enhanced Data Collection
  • Continued traditional market surveys for essentials.
  • Inclusion of online prices (telecom services, airfares, etc.).
  • Use of computer-assisted price collection to reduce errors and enable real-time validation.
• Integration of Administrative Data
  • Greater reliance on official sources for:
    • Rail fares
    • Postal charges
    • Fuel prices
    • Public Distribution System (PDS) items
  • Improves accuracy and reduces survey bias.

2. RBI Proposes Ban on Third-Party Sales Incentives

Source: BS

Why in News?

The Reserve Bank of India (RBI) has issued draft amendment directions to curb mis-selling of financial products by banks. The proposals include banning third-party sales incentives and introducing stricter consumer protection norms. Public comments have been invited until March 4, 2026. The norms are proposed to come into effect from July 1, 2026.

Background

• Banks earn fee income by distributing insurance, mutual funds, and other third-party financial products.
• Concerns over aggressive cross-selling and mis-selling have been raised repeatedly.
• In November 2025, the Union Finance Minister emphasised the need to protect public confidence in the banking system.
• RBI has consistently advised banks to focus on core banking activities.

What are Third-Party Sales Incentives?

Third-party sales incentives are rewards or payments given to bank employees (or agents) by external financial companies—such as insurance companies, mutual fund houses, or NBFCs—for selling their products through the bank.

Key Proposals

Ban on Third-Party Incentives

• No direct or indirect incentives to bank employees from third parties for selling products.
• Sales competitions must not encourage mis-selling.

No Bundling or Forced Sales

• Banks cannot bundle third-party products with their own products.
• Sale of a bank product cannot be made contingent on purchase of a third-party product.
• Customers must have the option to choose any provider.

Explicit Customer Consent

• Products (bank’s own or third-party) can be sold only with explicit consent.
• Loan facilities cannot be used to fund product purchases without explicit approval.

Refund and Compensation

• Full refund required where mis-selling is established.
• Compensation for customer losses as per approved policies.

Customer Protection Measures

Feedback Mechanism

• Banks must seek customer feedback within 30 days of sale.
• Customers may lodge complaints within 30 days of receiving signed terms and conditions (if sector regulator has not specified otherwise).
• Half-yearly reports to review findings and update policies.

Suitability Assessment

• Banks must assess product suitability based on:
  • Risk-return profile
  • Time horizon
  • Complexity
  • Fee structure
  • Customer age, income, and financial literacy

Conduct Norms for Agents

• Tele-calling and visits allowed only between 9 a.m. and 6 p.m. (beyond with consent).
• Third-party agents must be clearly distinguishable from bank staff.
• Code of conduct mandatory for employees, DSAs, and DMAs.
• Penal provisions for violations.

3. SEBI Mandates 2x Peak Load Capacity for Commodity Exchanges

Source: ET

Why in News?

The Securities and Exchange Board of India (SEBI) has introduced a new infrastructure planning and real-time performance monitoring framework for exchanges and clearing corporations in the commodity derivatives segment.

Key Provisions

Capacity Requirement

• Critical IT systems must maintain installed capacity of at least two times (2x) the projected peak load.
• Applies to exchanges and clearing corporations in the commodity derivatives market.

Earlier Norm (2016 Guidelines)

• Commodity exchanges were required to maintain 4x peak load capacity for trading systems.

Objective of the New Framework

• Strengthen system resilience.
• Ensure consistent response times during high-volume trading.
• Improve scalability and robustness of IT infrastructure.
• Enhance regulatory oversight of technology systems.

Background

• The move follows industry representations.
• Consultations were held with SEBI’s Technical Advisory Committee.
• Commodity derivatives markets rely heavily on high-speed, real-time trading systems, making IT stability critical.

Agriculture

1. BIOFACH 2026

Source: BS

Why in News?

India has been designated as the ‘Country of the Year’ at BIOFACH 2026, the world’s leading trade fair for organic food and agriculture, held annually in Nuremberg, Germany.

What is BIOFACH?

• The world’s premier trade fair for organic food and agriculture.
• Serves as a global platform for organic trade, sustainability, and innovation.
• Held annually at the Nuremberg Messe Exhibition Centre, Germany.
• Organised and managed by NürnbergMesse GmbH.

Organising Authority

• India’s participation is being organised by the Agricultural and Processed Food Products Export Development Authority (APEDA).
• APEDA functions under the Ministry of Commerce & Industry, Government of India.
• APEDA has been participating in BIOFACH for over a decade.

Aim

• Promote global trade in certified organic products.
• Facilitate B2B networking among producers, exporters, retailers, and policymakers.
• Encourage sustainable agriculture and environmentally responsible consumption.
• Showcase innovation in organic farming and food processing.

Significance of ‘Country of the Year’ Status

Strengthening India’s Global Organic Leadership

• Positions India as a key supplier of certified organic produce.
• Enhances India’s image in the global sustainable food ecosystem.

Boost to Agricultural Exports

• Supports exports of:
  • Organic rice
  • Spices
  • Pulses
  • Oilseeds
  • Cashew
  • Turmeric
  • Ginger
  • Mango puree
  • Essential oils

Promotion of GI-Tagged Products

• Showcases five GI-tagged rice varieties, highlighting India’s agricultural heritage and biodiversity.

Empowerment of FPOs and Regional Producers

• Participation from over 20 States and Union Territories.
• Encourages integration of grassroots producers into global value chains.

Soft Power & Culinary Diplomacy

• Live tastings (e.g., organic biryani, heritage rice varieties).
• Promotes India’s organic identity and food culture globally.

Products Showcased

Organic rice (including basmati), Oilseeds, Herbs and spices, Pulses, Cashew, Ginger, Turmeric, Large cardamom, Cinnamon, Mango puree, Essential oils

Facts To Remember

1. Bhanwala wins bronze in 25m rapid-fire pistol

Anish Bhanwala clinched bronze in the men’s 25m rapid-fire pistol event of the Asian Rifle/Pistol Championship at the Dr. Karni Singh Shooting Range. It is his third Asian Championship medal.

2. FDI Inflow in Banking Sector Declines in FY25

The Ministry of Finance informed the Rajya Sabha that FDI equity inflows into the banking sector fell to USD 115 million in FY25 from USD 898 million in FY23. SBI recorded the highest foreign shareholding among PSBs at 11.07%, and over 56.31 crore Mudra loans worth Rs 37.31 lakh crore have been sanctioned since PMMY’s launch.

3. BOBCARD Launches Braille-Enabled Premier Credit Card

BOBCARD introduced a Braille-enabled Premier Credit Card to enhance accessibility for visually impaired users. The card combines inclusive design with premium benefits such as travel rewards and lounge access.

4. PB Pay Receives RBI Authorisation as Payment Aggregator

PB Pay Private Limited received RBI’s Certificate of Authorisation to operate as a Payment Aggregator under the PSS Act, 2007. The approval allows it to onboard merchants and process digital payments including UPI and card transactions.

5. Safer Internet Day – February 10

Safer Internet Day 2026 was observed on 10 February under the theme “Smart Tech, Safe Choices.” India ranked first in the 2026 Digital Well-Being Index, marking its fourth consecutive year at the top.

6. World Unani Day – February 11

World Unani Day is observed annually on 11 February to mark the birth anniversary of Hakim Ajmal Khan. The 2026 theme was “Innovation and Evidence in Unani Practice,” highlighting integration of traditional medicine with modern research.

7. Delhi Launches Lakhpati Bitiya Yojana

The Delhi Government announced the Lakhpati Bitiya Yojana to provide financial support to girls from low-income families. The scheme, effective from April 1, 2026, will offer phased deposits maturing to over Rs 1 lakh.

8. India–UK Sign Social Security Agreement

India and the United Kingdom signed a reciprocal Social Security Agreement (SSA), also known as a Double Contributions Convention (DCC). The pact prevents dual social security payments for employees on temporary assignments of up to 36 months, allowing them to contribute only to their home country’s system.

9. No-Confidence Motion Against Lok Sabha Speaker

The Opposition moved a no-confidence motion against Lok Sabha Speaker Om Birla. Under Article 94(c) of the Constitution, the Speaker or Deputy Speaker can be removed by a resolution passed by a majority of all the then members of the Lok Sabha.

10. Centre Issues New Guidelines on ‘Vande Mataram’

The Union Government issued fresh guidelines mandating the singing of all six stanzas of ‘Vande Mataram’ at official functions. The directive coincides with the 150th anniversary of the song’s creation.

11. Sawalkot Hydroelectric Project

The Sawalkot Hydroelectric Project is a 1,856 MW run-of-the-river project on the Chenab River in Jammu & Kashmir. Implemented by NHPC, it is the largest hydropower project in J&K and among the biggest in Northern India.

12. India–UK Sign Social Security Agreement

India and the United Kingdom signed a reciprocal Social Security Agreement (SSA), also known as a Double Contributions Convention (DCC). The pact prevents dual social security payments for employees on temporary assignments of up to 36 months, allowing them to contribute only to their home country’s system.

13. No-Confidence Motion Against Lok Sabha Speaker

The Opposition moved a no-confidence motion against Lok Sabha Speaker Om Birla. Under Article 94(c) of the Constitution, the Speaker or Deputy Speaker can be removed by a resolution passed by a majority of all the then members of the Lok Sabha.

14. Centre Issues New Guidelines on ‘Vande Mataram’

The Union Government issued fresh guidelines mandating the singing of all six stanzas of ‘Vande Mataram’ at official functions. The directive coincides with the 150th anniversary of the song’s creation.

15. Sawalkot Hydroelectric Project

The Sawalkot Hydroelectric Project is a 1,856 MW run-of-the-river project on the Chenab River in Jammu & Kashmir. Implemented by NHPC, it is the largest hydropower project in J&K and among the biggest in Northern India.

16. CES Hosts 4th Vidya Utsav

The Child Education Society (CES) organised the 4th Vidya Utsav on February 7 at the Manekshaw Centre Auditorium, focusing on reimagining education to create future-ready citizens.

Daily Current Affairs Quiz
13 February, 2026

National Affairs

1. Govt. Unveils New CPI Series

Source: TH

Why in News?

The Ministry of Statistics and Programme Implementation (MoSPI) has released a new Consumer Price Index (CPI) series with 2024 as the base year, replacing the earlier 2012 base year. Under this revised series, retail inflation for January 2026 is recorded at 2.75%.

Key Highlights:

• New Base Year: Updated from 2012 to 2024.
• First Data Release: Historical comparison with previous CPI series is not yet available.
• Expanded Item Basket:
  • Total items: 358 (earlier 299)
  • Goods: 308 (earlier 259)
  • Services: 50 (earlier 40)
• Revised Consumption Weights: Based on Household Consumption Expenditure Survey (HCES) 2023–24.
• Wider Market Coverage:
  • Rural markets: 1,465 (earlier 1,181)
  • Urban markets: 1,395 (earlier 1,114)

What is CPI (Consumer Price Index)?

CPI (Consumer Price Index) is a measure that tracks the average change in prices of goods and services that people commonly buy over time. It is the most widely used indicator to measure inflation at the retail (consumer) level.

What is a Base Year?

A base year is a specific reference year used for comparison when measuring changes in economic indicators over time, such as inflation, GDP, or price levels.

In that year, the value of the index is usually set to 100, and all future values are compared with it.

How it Works (Example – CPI)

If 2024 is the base year for the Consumer Price Index (CPI):

• CPI in 2024 = 100 (reference point)
• CPI in 2026 = 110 → prices are 10% higher than in 2024

So, the base year helps measure how much prices or economic activity have increased or decreased compared to that reference year.

Reason for Revision

• Significant changes in consumption patterns and economic structure over the past decade.
• Need for a more accurate and updated measure of price changes reflecting modern lifestyles.

2. The States and the 16th Finance Commission

Subject: TH

Why in News?

The 16th Finance Commission has submitted its recommendations for the 2026–31 period, introducing important fiscal reforms such as a new “Contribution to GDP” criterion for tax distribution and stricter fiscal discipline norms for States.

What is the Finance Commission?

The Finance Commission of India is a constitutional body under Article 280 that recommends:

• Vertical Devolution: Distribution of central taxes between the Union and the States.
• Horizontal Devolution: Distribution of the States’ share among individual States.

Taxes in the divisible pool include:

• Corporation Tax
• Personal Income Tax
• Central GST (CGST)
• Centre’s share of Integrated GST (IGST)

Major Demands of the States

1. Higher share of central taxes
   • Increase from 41% to 50% due to rising welfare and development expenditure.
2. Inclusion of cess and surcharge in divisible pool
   • States argue increasing reliance on cesses reduces their effective tax share.
3. Reward for economic performance
   • Industrialised States sought recognition of GDP contribution.
4. Flexible and untied grants
   • States requested fewer conditional transfers and more autonomy in spending.

Major Recommendations of the 16th Finance Commission

Vertical Devolution

• States’ share retained at 41% for 2026–31.

New Horizontal Criterion

• Contribution to GDP given 10% weight, rewarding economically productive States.

Fiscal Discipline Measures

• Fiscal deficit of States capped at 3% of GSDP.
• Off-budget borrowings discontinued — all liabilities must appear in State budgets.

Power Sector Reform

• Recommendation for privatisation of power distribution companies (DISCOMs) to reduce debt burdens.

Local Government Funding

• ₹9.47 lakh crore recommended for local bodies and disaster management.
• Discontinuation of state-specific and sector-specific grants.

Environmental Incentives

• Rewards for increase in forest cover, not just maintenance of existing forests.

3. Industrial Relations Code (Amendment) Bill, 2026

Source: TOI

Why in News?

The Lok Sabha has passed the Industrial Relations Code (Amendment) Bill, 2026 to remove legal ambiguity regarding the repeal and continuity of laws replaced by the Industrial Relations Code, 2020.

Key Objective

• To avoid future legal confusion about the repeal of earlier labour laws.
• To ensure continuity and legal certainty after the implementation of the Industrial Relations Code, 2020.

Background

The Industrial Relations Code, 2020 replaced three major labour laws:

1. Trade Unions Act, 1926
2. Industrial Employment (Standing Orders) Act, 1946
3. Industrial Disputes Act, 1947

These laws dealt with:

• Trade unions
• Industrial employment conditions
• Settlement of industrial disputes

4. DAC Approves ₹3.6 Lakh Crore Defence Acquisitions

Source: FE

Why in News?

The Defence Acquisition Council (DAC) has granted Acceptance of Necessity (AoN) for major defence procurement proposals worth about ₹3.6 lakh crore, including 114 Rafale fighter jets for the Indian Air Force (IAF) and six P-8I maritime reconnaissance aircraft for the Indian Navy.

Major Defence Approvals

1. Rafale Multi-Role Fighter Aircraft (MRFA)

• 114 fighter jets to be procured from France.
• Dassault Rafale is a twin-engine, multi-role fighter aircraft developed by France’s Dassault Aviation.
  It is designed to perform multiple types of combat missions using a single platform.

2. S-400 Air Defence Missiles

• Includes both short-range and long-range missiles.
• Intended to replenish air defence stocks and strengthen layered missile defence.
• Advanced surface-to-air missile system.
• Capable of targeting aircraft, drones, cruise missiles and ballistic missiles.
• Engagement range: approximately 40 km to 400 km.

5. Ayushman Sahakar Scheme

Source: PIB

Why in News?

The Union Minister for Home and Cooperation informed the Rajya Sabha about the implementation status and funding framework of the Ayushman Sahakar Scheme, highlighting its role in expanding cooperative-led healthcare infrastructure.

What is the Ayushman Sahakar Scheme?

The Ayushman Sahakar Scheme is a dedicated financial assistance programme of the National Cooperative Development Corporation (NCDC) to support cooperative societies in establishing, modernising and expanding healthcare infrastructure across India.

Launch and Administrative Control

• Launched: 2020
• Implementing Agency: NCDC
• Administrative Ministry: Ministry of Cooperation
• Aligned with the objectives of the National Health Policy, 2017.

Objectives

• Promote affordable, community-based healthcare through cooperative institutions.
• Strengthen healthcare access in underserved areas.
• Support integration of AYUSH services and digital health systems.
• Expand cooperative participation in India’s public health delivery system.

Key Features

1. Eligible Institutions

• Cooperative societies registered under State or Multi-State Cooperative Societies Acts.
• Healthcare activities must be included in their bye-laws.

2. Comprehensive Healthcare Coverage

Financial support for:

• Hospitals, clinics and diagnostic centres
• Modernisation of existing facilities
• AYUSH healthcare services
• Digital health and telemedicine
• Health insurance services
• Working capital requirements

3. Financial Assistance Structure

• Term loans or investment loans based on project needs.
• Loan tenure up to 8 years with 1–2 year moratorium.

4. Incentive for Women-led Cooperatives

• 1% interest rebate for cooperatives with majority women members (subject to timely repayment).

5. Funding Mechanism

• Financing through State governments or directly through NCDC.
• Up to 90% of project cost may be financed.
• Requires collateral or guarantee as per norms.

6. Petroleum and Natural Gas Regulatory Board (PNGRB)

Source: BS

Why in News?

The Petroleum and Natural Gas Regulatory Board (PNGRB) has approved new guidelines for the injection of Compressed Biogas (CBG) into Natural Gas Pipeline (NGPL) and City Gas Distribution (CGD) networks.
This step supports the expansion of clean energy and integration of biofuels into India’s gas infrastructure.

What is PNGRB?

PNGRB is a statutory regulatory authority responsible for regulating the downstream petroleum and natural gas sector in India.

Establishment and Structure

• Established: 2006
• Legal Basis: Petroleum and Natural Gas Regulatory Board Act, 2006
• Headquarters: New Delhi

Objectives

• Protect consumer interests in petroleum and natural gas markets.
• Promote fair trade and competition.
• Ensure uninterrupted and adequate supply of petroleum products and natural gas across the country.

7. India to Establish Two New Advanced Telescopes in Ladakh

Source: Indian Express

Why in News?

The Union Budget 2026 has approved the establishment of two major ground-based astronomical telescopes in Ladakh and the upgrade of the Himalayan Chandra Telescope, significantly strengthening India’s observational astronomy capabilities.

Overview of the Initiative

India will develop advanced observatories to study the Sun and deep space, taking advantage of Ladakh’s:

• High altitude
• Dry climate
• Minimal atmospheric disturbance
• Exceptionally dark skies

These facilities will enhance research in:

• Solar physics (heliophysics)
• Exoplanets
• Stellar evolution
• Cosmology

National Large Solar Telescope (NLST)

A 2-metre aperture ground-based solar telescope to observe the Sun in visible and near-infrared wavelengths.
Location: Merak region near Pangong Tso, Ladakh.

Key Features

• High-resolution solar observation system.
• Studies solar magnetism and dynamic solar activity.
• High-altitude site reduces atmospheric distortion.
• India’s third ground-based solar observatory after Kodaikanal and Udaipur.
• Will complement solar data from India’s space missions.

National Large Optical–Near Infrared Telescope (NLOT)

A 13.7-metre segmented mirror optical–infrared telescope, among the largest of its kind globally.
Location: Hanle, Ladakh.

Key Features

• Primary mirror made of 90 hexagonal segments functioning as one large mirror.
• Observes faint and distant celestial objects in optical and near-infrared wavelengths.
• High-altitude dry environment ensures superior observation quality.
• Builds on India’s experience in large global telescope collaborations.

8. Dolphin Census in Odisha

Source: TNIE

Why in News?

Odisha has recorded 765 marine dolphins in the 2026 state-wide dolphin census, the highest count in the last five years, indicating improving conservation outcomes.

What is the Dolphin Census?

The Dolphin Census is an annual scientific survey conducted to estimate the population, distribution and diversity of dolphins and other cetaceans in Odisha’s marine and estuarine ecosystems.

Conducted by:
Wildlife Wing of the Forest, Environment and Climate Change Department, Government of Odisha, with participation from forest officials, marine scientists and field teams using boat- and shore-based surveys.

Key Findings of the 2026 Census

Total Dolphins Recorded: 765

Species-wise Distribution:

• Humpback dolphins – 497
• Irrawaddy dolphins – 208
• Bottlenose dolphins – 55
• Spinner dolphins – 3
• Finless porpoise – 2

Major Conservation Zones

Chilika Lake

• 159 Irrawaddy dolphins
• Largest known single-area concentration of Irrawaddy dolphins globally.

Gahirmatha Marine Sanctuary

• 474 Humpback dolphins

Overall trends suggest stable or improving populations due to habitat protection and community-based conservation.

About Dolphins

• Biological Classification: Aquatic mammals belonging to the order Cetacea.
• Habitat: Oceans, coastal waters, estuaries and some freshwater systems. In India, major habitats include Chilika Lake and coastal marine regions.

Conservation Status and Legal Protection

• Irrawaddy dolphin: Endangered (IUCN Red List)
• Dolphins: Protected under Schedule I of the Wildlife Protection Act, 1972

Species Found in Odisha

• Humpback dolphin
• Irrawaddy dolphin
• Bottlenose dolphin
• Spinner dolphin
• Finless porpoise

6. Tamil Brahmi Inscriptions Discovered in Egypt

Source: The New Times of India

Why in News?

Researchers have identified nearly 30 ancient Indian inscriptions — including Tamil Brahmi, Prakrit and Sanskrit — inside tombs in the Valley of the Kings, dating to the 1st–3rd centuries CE, indicating the presence of Indians in Roman-era Egypt.

What is the Discovery?

Ancient inscriptions, mainly in Tamil Brahmi script, have been found in Egyptian tombs. These likely represent names or markings left by Indian traders or visitors, showing direct contact between South India and Egypt during early historical times.

• Location: Six tombs in the Valley of the Kings, part of the Theban Necropolis along the Nile.

Key Findings

• Around 30 inscriptions identified in Tamil Brahmi, Prakrit and Sanskrit.
• The Tamil name “Cikai Korran” appears repeatedly (eight times across five tombs), suggesting frequent visits by a Tamil individual.
• Other Tamil names found include Kopan, Catan and Kiran, associated with Sangam-era Tamil culture.
• Similar Tamil inscriptions had earlier been found at Berenike, a Red Sea port of Roman Egypt.
• The inscriptions were carved alongside Greek graffiti, showing that Indian visitors followed local commemorative practices.

About the Valley of the Kings

• Major royal burial ground of ancient Egypt’s New Kingdom rulers.
• Located near Luxor on the west bank of the Nile.
• Used roughly between 1539–1075 BCE.
• Burial site of pharaohs including Tutankhamun.
• Recognised as a UNESCO World Heritage Site (Ancient Thebes complex).

Banking/Finance

1. RBI Tightens Rules on Loan Recovery Agents

Source: ET

Why in News?

The Reserve Bank of India (RBI) has issued draft guidelines to regulate the conduct of loan recovery agents, aiming to prevent harassment and ensure responsible recovery practices. The proposed rules will take effect from July 1, 2026, after public consultation.

Background

Complaints about recovery agents using coercion, intimidation and public humiliation have increased in recent years. To address this, the RBI has proposed comprehensive behavioural norms under the Responsible Business Conduct Second Amendment Directions, 2026.

What Will Be Treated as “Harsh Recovery Practices”?

Banks and recovery agents will be strictly prohibited from:

• Using threatening, abusive or humiliating language.
• Making repeated or excessive calls, or calling outside permitted hours.
• Sending inappropriate or coercive messages through phone or social media.
• Harassing borrowers, guarantors, or their relatives, friends or colleagues.
• Publicly shaming or intimidating borrowers.
• Threatening violence or damage to reputation or property.
• Providing false or misleading information about the debt or legal consequences.

New Responsibilities for Banks

Banks must institutionalise responsible recovery by:

• Creating a formal policy on loan recovery and engagement of recovery agents.
• Conducting due diligence before hiring recovery agents.
• Setting clear codes of conduct and performance standards.
• Establishing procedures for taking possession of collateral in a lawful manner.

Mandatory Grievance Redressal

• Every bank must create a dedicated mechanism to handle complaints related to recovery practices, ensuring timely resolution.

Regulatory Significance

• Strengthens borrower rights and financial consumer protection.
• Promotes ethical and transparent lending practices.
• Enhances accountability of banks and recovery agencies.
• Reinforces trust in the banking system.

2. Government to Monetise CPSE Assets through REITs

Source: ET

Why in News?

In the Union Budget, Finance Minister Nirmala Sitharaman proposed monetising real estate owned by Central Public Sector Enterprises (CPSEs) through Real Estate Investment Trusts (REITs) to unlock the value of idle government assets.

Key Objective

• Unlock an estimated ₹10 lakh crore worth of government-owned real estate.
• Convert underutilised public assets into income-generating investments.
• Strengthen public sector finances and deepen capital markets.

What is the Plan?

• Create dedicated REIT structures for CPSE-owned commercial properties.
• Allow investors (domestic and global) to invest in these assets and earn rental yields.
• Enable CPSEs to raise capital and reinvest funds into infrastructure and core operations.

What is a REIT?

A REIT pools money from many investors and invests it in large real estate projects that generate regular rental income.
Investors earn returns through:

1. Dividends (from rental income)
2. Capital appreciation (increase in REIT unit price)

REIT units are usually traded on stock exchanges, so they can be bought and sold like shares.

Key Features

• Invests in income-producing real estate
• Regular income distribution (often mandatory high payout)
• Listed and tradable like stocks
• Professionally managed
• Low entry cost compared to buying property
• Offers liquidity (easy to buy/sell)

In many countries (including India), REITs must distribute at least 90% of their income to investors.

Types of REITs

1. Equity REITs – Own and rent properties (most common)
2. Mortgage REITs – Finance real estate loans and earn interest
3. Hybrid REITs – Combination of both

3. IRDAI Clarifies Investment Norms for Insurers in AIFs

Source: BL

Why in News?

The Insurance Regulatory and Development Authority of India (IRDAI) has issued clarifications on investment norms for insurers in Alternative Investment Funds (AIFs), allowing greater flexibility while tightening safeguards on overseas investments.

Key Clarifications

1. Restriction on Overseas Deployment of Policyholder Funds

• Insurers cannot deploy policyholder funds abroad through AIFs.
• Investments made using insurers’ capital must remain within India.

2. Aggregation of Exposure Limits

• Insurers must comply with single AIF exposure limits by combining:
  • Direct investments in AIFs, and
  • Indirect exposure through Fund of Funds (FoFs).
• Ensures accurate assessment of total risk exposure.

3. Greater Investment Flexibility

• While tightening safeguards, IRDAI has provided more operational clarity and flexibility for insurers investing in AIFs.

Objective of the Move

• Protect policyholder funds from overseas risk exposure.
• Improve transparency in investment limits.
• Strengthen prudential regulation of insurer investments.
• Balance investment flexibility with financial stability.

Agriculture

1. RBI Proposes Inclusion of Agri-Tech Expenses in Farm Loans

Source: News on Air

Why in News?

The Reserve Bank of India (RBI) has proposed revised draft norms for the Kisan Credit Card (KCC) scheme to expand farm credit coverage and support technology adoption in agriculture.

Key Proposals

1. Agri-Tech Expenses Eligible for Farm Loans

Expenses related to modern agricultural practices can now be covered under farm loans, including:

• Soil testing
• Real-time weather forecasting tools
• Certification for organic or good agricultural practices

These will be included within the existing 20% additional component allowed for repair and maintenance of farm assets.

2. Easier Access to Credit

• Collateral and margin requirements waived for agricultural and allied activity loans up to ₹2 lakh per borrower.
• Aims to improve credit access, especially for small and marginal farmers.

3. Standardisation of Crop Loan Cycles

To ensure uniformity in repayment and loan sanction:

• Short-duration crops: 12 months
• Long-duration crops: 18 months

4. Longer Loan Tenure

• KCC loan tenure extended to 6 years to better match crop cycles, especially for long-duration crops.

5. Credit Limits Linked to Actual Cultivation Costs

• Drawing limits aligned with the scale of finance for each crop season, ensuring adequate credit based on real production costs.

6. Flexi-KCC for Marginal Farmers

• Flexible credit limit of ₹10,000 to ₹50,000, depending on landholding and crops.
• Designed to meet both working capital and investment needs.

Objective of the Reform

• Promote adoption of modern agricultural technologies.
• Improve access to institutional credit.
• Align loan structure with real farming cycles and costs.
• Support small and marginal farmers.

2. Pulses Imports and India–U.S. Trade Concerns

Source: TH

Why in News?

Reports that a proposed India–U.S. trade arrangement could involve India purchasing pulses from American suppliers triggered concern among Indian farmers, as it may increase imports and depress domestic prices.

Key Highlights

• India manages pulse demand through:
  • Import policy
  • Price stabilisation measures
  • Conditional Minimum Support Price (MSP) procurement
• Domestic production: ~2.5 crore tonnes annually
• Estimated demand: ~3 crore tonnes
• Imports fill the supply gap
• Pulses:
  • Provide about 25% of non-cereal protein intake
  • Support nearly 5 crore farmers and their families

Farmer Concerns

• Imports can reduce prices for domestic farmers.
• MSP procurement for pulses is weak compared to rice and wheat.
• Government procurement under the Price Support Scheme (2019–24):
  • Only 2.9% to 12.4% of production
• Many states lack sufficient procurement centres.
• Pulses are largely rain-fed crops with lower yields than global competitors.

Result: Farmers underinvest in pulses, leading to continued import dependence.

Government Initiative

Self-Sufficiency Mission for Pulses (October 2025)

• Outlay: ₹11,440 crore
• Target cultivation: 310 lakh hectares
• Production target: 350 lakh tonnes by 2030–31
• Aim: Reduce import dependence and boost domestic output

However, farmers remain sceptical due to poor implementation of past commitments.

Structural Issues Identified

• Weak procurement infrastructure
• Lack of assured MSP support
• Low productivity in rain-fed areas
• Market incentives favour other crops
• Continued reliance on imports → food security vulnerability

Facts To Remember

1. Pak. launches its indigenous Earth Observation Satellite from China

Pakistan on Thursday successfully launched its second indigenous Earth Observation Satellite, EO-2, from China’s Yangjiang Seashore Launch Centre, according to the state media. The satellite is designed to significantly enhance the country’s earth observation and high-resolution imaging capabilities. 

2. Aishwary claims 50m rifle 3P gold

Aishwary Pratap Singh Tomar hit a 10.7 in the final shot to clinch the 50m rifle 3 positions (3P) gold in the Asian Rifle/ Pistol Championship at the Dr. Karni Singh Shooting Range.

3. Telangana Launches ‘Aikam’ to Boost AI Ecosystem

The Telangana Government launched ‘Aikam’, an autonomous organisation aimed at strengthening the AI ecosystem through workforce upskilling, startup support, compute infrastructure, and an AI Fund-of-Funds. The initiative seeks to position Telangana among the top global innovation hubs and promote responsible AI adoption.

4. Assam Launches ‘Atal Vichal Agragami Assam’ Scheme

Assam launched the ‘Atal Vichal Agragami Assam’ scheme to financially support research scholars and boost innovation. Under the scheme, scholars will receive ₹25,000 per month, while Divyang scholars will get ₹40,000, promoting research, talent development, and a knowledge-driven academic ecosystem.

5. Gujarat Signs LoI with Starlink for Digital Connectivity

The Gujarat Government signed a Letter of Intent with Starlink to enhance satellite-based internet connectivity in remote and border areas. The initiative will connect CSCs, schools, PHCs, and governance facilities, strengthening digital infrastructure and supporting the Digital India vision.

6. SBI Crosses ₹10 Lakh Crore Market Capitalisation

State Bank of India crossed ₹10 lakh crore market capitalisation, becoming the sixth Indian company to reach the milestone. SBI joined the elite club alongside Reliance Industries, HDFC Bank, Bharti Airtel, TCS, and ICICI Bank.

7. Moody’s Projects India’s GDP Growth at 6.4% for FY27

Moody’s Ratings projected India’s real GDP growth at 6.4% for FY 2026–27, the fastest among G20 economies. The estimate is slightly lower than the Economic Survey’s projection of 6.8–7.2%.

8. SEBI Approves IIFL Capital Subsidiary at GIFT IFSC

SEBI granted a No Objection Certificate to IIFL Capital Services to set up a wholly owned subsidiary at GIFT IFSC. The entity will operate as a separate legal unit to expand international financial services operations.

9. RBI Approves R. Vijay Anandh as MD & CEO of City Union Bank

RBI approved the appointment of R. Vijay Anandh as MD & CEO of City Union Bank for three years, effective May 1, 2026, subject to shareholder approval. He will succeed N. Kamakodi, who has served since 2011.

10. Shikhar Dhawan Appointed Brand Ambassador for Delhi Khel Mahakumbh

Former Indian cricketer Shikhar Dhawan was appointed Brand Ambassador of the inaugural Delhi Khel Mahakumbh 2026, a grassroots sports festival to be held across 16 locations in all 12 districts of Delhi.

11. Manu Bhaker Wins Silver at Asian Shooting Championship

Olympian Manu Bhaker won the silver medal in the women’s 25m pistol event at the Asian Shooting Championship in New Delhi after a shoot-off against Vietnam’s Nguyen Thuy Trang.

12. Books Released by Odisha Governor

Odisha Governor Hari Babu Kambhampati released two books authored by Biswabhusan Harichandan—“E Mati Katha Kahe” (Odia) and “Buxi Jagabandhu: The Great Commander” (English).

13. First-Ever Liquor Export Policy by a State — Uttar Pradesh Sets Precedent

Uttar Pradesh has become the first Indian state to introduce a dedicated policy for liquor exports, aiming to promote state-manufactured alcoholic beverages in international markets and boost industrial growth.

14. Important Days

• International Day of Women and Girls in Science is observed on 11 February to promote gender equality in STEM, with the 2026 theme “From Vision to Impact: Redefining STEM by Closing the Gender Gap.”
• Safer Internet Day is observed globally to promote safe and responsible digital usage, with the 2026 theme “AI Aware: Safe, Smart, In Control.”
• Darwin Day is observed on 12 February to commemorate Charles Darwin and promote scientific thinking, evolution studies, and evidence-based understanding of natural phenomena.

15. India’s Growth Least Affected by Global Trade Shifts: Fitch Ratings

Global rating agency Fitch Ratings has stated that economic growth in India, Indonesia, and the Philippines is likely to be least affected by changing global trade patterns, as their economies rely less on manufacturing exports.