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.
