Daily Current Affairs Quiz
22&23 February, 2026
National Affairs
1. India–Brazil Agreements on Minerals, Steel & Trade Expansion
Source: PIB
Why in News?
India and Brazil signed key agreements on rare earth & critical minerals and steel mining, while committing to expand bilateral trade and digital cooperation during Brazilian President Luiz Inácio Lula da Silva’s visit to India.
Key Agreements Signed
- Cooperation in rare earth and critical minerals.
- Partnership in steel mining.
- Launch of a Joint Declaration & Action Plan on Digital Partnership for the Future.
- Agreement to strengthen cooperation in:
- Defence
- Renewable energy
- Healthcare
- Agriculture
- Pharmaceuticals
- South–South cooperation
Trade & Economic Targets
- Current trade: about $12–15 billion annually.
- Earlier target: $20 billion by 2030.
- Brazil proposed a new target: $30 billion annual trade by 2030.
- Plan to expand the India–Mercosur Preferential Trading Agreement (PTA).
2. Indigenous Tetanus & Adult Diphtheria (Td) Vaccine Launched
Source: TH
Why in News?
Union Health Minister J.P. Nadda launched an indigenously manufactured Tetanus and Adult Diphtheria (Td) vaccine, marking a major step in strengthening India’s public health system and vaccine self-reliance.
Key Highlights:
- The vaccine is produced by the Central Research Institute (CRI), Kasauli.
- It will be supplied under India’s Universal Immunization Programme (UIP).
- 55 lakh doses to be supplied by April 2026.
- Production will increase in the coming years.
About Universal Immunization Programme (UIP)
- One of the largest immunisation programmes in the world.
- Provides 11 vaccines protecting against 12 vaccine-preventable diseases.
- Implemented by the Government of India to reduce child and maternal mortality.
About Central Research Institute (CRI), Kasauli
- Government vaccine manufacturing institute.
- First government facility producing vaccines under Good Manufacturing Practices (GMP) standards.
- Plays a key role in public sector vaccine production.
3. NITI Aayog Report — Revitalizing Apprenticeship Ecosystem
Source: PIB
Why in News?
NITI Aayog released a policy report titled “Revitalizing Apprenticeship Ecosystem: Insights, Challenges, Recommendations and Best Practices” to strengthen India’s apprenticeship system as a key pillar of Viksit Bharat @2047.
What is the Report About?
- Comprehensive analysis of India’s apprenticeship ecosystem.
- Provides 20 action-oriented recommendations.
- Focuses on five key pillars:
- Policy reforms
- Structural strengthening
- State & district-level interventions
- Industry engagement
- Aspirant support
- Proposes an Apprenticeship Engagement Index to compare state performance.
- Recommends a common digital platform for streamlined processes.
Key Findings / Data
- Apprenticeship participation highly concentrated in a few states.
- Gujarat alone accounts for ~24.18% of engagements (NAPS FY 2024–25).
- Top states: Gujarat, Maharashtra, Haryana, Tamil Nadu, Karnataka.
- Many states/UTs contribute less than 0.001% → major regional disparity.
- India has a large educated but unemployed youth population → huge potential for skill-based employment.
- Agricultural residues linked to bio-energy could generate 18,000 MW power annually.
Importance of Apprenticeship Ecosystem
- Bridges gap between education and industry skills.
- Improves employability through practical training.
- Boosts enterprise productivity.
- Promotes social mobility, especially for rural and marginalized youth.
- Enhances global competitiveness of Indian workforce.
Major Challenges Identified
- Aspirational bias toward academic degrees over vocational training.
- Regional imbalance in apprenticeship opportunities.
- Complex regulations and multiple portals (NAPS vs NATS).
- Weak training infrastructure, especially in rural districts.
- Mismatch between skills taught and industry needs (e.g., AI and digital skills gap).
Existing Government Initiatives
- NEP 2020: Integration of vocational education with formal education.
- National Apprenticeship Promotion Scheme (NAPS): Financial incentives to employers.
- National Apprentice Training Scheme (NATS): For graduates and diploma holders.
- District Skill Committees (DSCs): Local skill planning and implementation.
4. Export Promotion Mission (EPM)
Source: BS
Why in News?
The Union Commerce and Industry Minister launched seven new interventions under the Export Promotion Mission (EPM) to strengthen MSME participation in global trade.
What is Export Promotion Mission (EPM)?
- A flagship initiative of the Department of Commerce.
- Focuses on enabling MSMEs to expand exports and compete globally.
- Uses a holistic ecosystem approach — finance, logistics, compliance, and market access.
Objectives
- Improve global market access for Indian MSMEs.
- Reduce structural barriers:
- High cost of capital
- Logistics challenges
- Compliance requirements
- Promote inclusive export growth aligned with India’s trade ambitions.
Key Features
Dual Framework
- Niryat Protsahan → Financial support
- Niryat Disha → Trade ecosystem support
- Digitally monitored implementation.
Trade Finance Support
- Export factoring
- E-commerce credit
- Interest subvention (2.75%)
- Credit guarantees for MSMEs
Compliance & Certification (TRACE)
- Partial reimbursement for:
- Testing
- Inspection
- Certification for global standards
Logistics & Overseas Warehousing (FLOW & LIFT)
- Support for overseas warehouses
- Freight cost reimbursement
- E-commerce export hubs
Trade Intelligence & Capacity Building (INSIGHT)
- Strengthening district export hubs
- Market intelligence systems
MSME Financial Assistance
- Credit support up to ₹5 crore
- Interest subsidy and guarantee coverage
- Support for digital exporters
Market Integration
- Initiatives like Bharat Mart (Dubai) to connect exporters with:
- GCC countries
- Africa
- Europe
5. Launch of INS Krishna — Indigenous Cadet Training Ship
Source: Times of India
Why in News?
The Indian Navy launched INS Krishna, the first of three indigenously built Cadet Training Ships (CTS), aimed at strengthening naval training infrastructure.
What is INS Krishna?
- Lead ship of a new class of Cadet Training Ships (CTS).
- Designed and built in India by Larsen & Toubro (L&T).
- Dedicated platform for hands-on training of naval officer cadets at sea.
Purpose
- Bridge the gap between classroom training and real sea operations.
- Provide practical experience in:
- Navigation
- Seamanship
- Ship-handling
- Allows training without diverting frontline warships from operational duties.
6. “One Plant Per Day” Resolution
Source: PIB
Why in News?
The Union Minister marked five years of the “One Plant Per Day” resolution, highlighting its evolution from a personal pledge into a proposed nationwide environmental movement.
What is the One Plant Per Day Resolution?
- Launched in 2021 by Shivraj Singh Chouhan.
- Personal commitment to plant at least one sapling daily.
- Aims to transform individual responsibility into a mass afforestation movement.
- Led by:
- Ministry of Agriculture & Farmers’ Welfare
- Ministry of Rural Development
Key Features
- Daily plantation commitment: Encourages continuous tree planting.
- Institutional integration: Government programmes begin with plantation drives.
- Digital participation: Platforms like Ankur and proposed Tree Bank help track or sponsor trees.
Banking/Finance
1. New CPI Base (2024)
Source: TH
Why in News?
India has revised the Consumer Price Index (CPI) base year to 2024, updating how inflation is measured to better reflect current household spending patterns.
What Has Changed?
- Earlier CPI grouped consumption into 6 broad categories.
- New CPI follows COICOP 2018 classification with 12 detailed categories.
- Based on updated Household Consumption Expenditure Survey (HCES) data.
Major Structural Changes
- Food weight reduced in CPI basket.
- Housing and services weight increased.
- Rural housing and utilities now better captured.
Reflects long-term shift in spending from food to services and housing.
Understanding CPI vs Inflation
- CPI level shows how expensive goods are compared to base year.
- Example: CPI 104.46 → basket costing ₹100 in 2024 now costs ₹104.46.
- Inflation rate shows how fast prices rise year-to-year.
- Example: 2.75% inflation = price rise from 2025 to 2026.
State-Level Inflation Insights
Highest inflation (Jan 2026) among large States:
- Telangana — ~5%
- Kerala — ~3.67%
- Tamil Nadu — ~3.36%
- Rajasthan — ~3.17%
- Karnataka — high inflation due to services
Reason: higher spending on services like housing, health, education, transport.
Why Rajasthan Shows Higher Inflation
- New CPI includes rural housing and utilities more accurately.
- Earlier CPI understated non-food inflation in rural areas.
Importance for Monetary Policy (RBI)
- Helps RBI distinguish between:
- Temporary food price spikes, and
- Persistent service price inflation.
- Better assessment of long-term inflation trends.
- Improves interest-rate decision making.
2. Risk-Based Deposit Insurance Premium for Banks
Source: BS
Why in News?
India is shifting from a uniform deposit insurance premium to a risk-based premium (RBP) system, where banks pay insurance premiums according to their risk profile.
This also sets the stage for a likely increase in deposit insurance cover from ₹5 lakh to possibly ₹15 lakh.
What is Deposit Insurance?
- Protects bank depositors if a bank fails.
- Currently covers up to ₹5 lakh per depositor per bank.
- Managed by DICGC (established in 1962).
Key Change: Risk-Based Premium (RBP)
Earlier system:
- Flat premium of 12 paise per ₹100 deposits for all banks.
New system:
- Premium linked to bank risk rating.
- Better-rated banks pay lower premiums, riskier banks pay closer to the maximum.
Proposed premium structure (per ₹100 deposits):
- Rating A → 8 paise
- Rating B → 10 paise
- Rating C → 11 paise
- Rating D → 12 paise (cap)
Two-Tier Framework
- Tier I: Scheduled commercial banks (excluding RRBs).
- Tier II: Regional Rural Banks (RRBs) and cooperative banks.
Objectives
- Encourage prudent risk management by banks.
- Strengthen financial stability.
- Align insurance cost with bank risk.
3. Participatory Notes (P-Notes)
Source: ET
Why in News?
Proposed revisions to the India–France tax treaty may allow India to tax capital gains from equity sales by French investors. This could significantly affect the participatory note (P-note) investment route used by foreign investors.
What are Participatory Notes (P-Notes)?
Participatory Notes (P-Notes) are offshore derivative instruments issued by SEBI-registered Foreign Portfolio Investors (FPIs) to overseas investors who wish to invest in Indian securities without registering directly with SEBI.
They derive their value from underlying Indian assets such as:
- Equity shares
- Bonds
- Derivatives
How Do P-Notes Work?
- An overseas investor buys a P-note from an FPI.
- The FPI invests in Indian securities.
- The returns (capital gains/dividends) are passed on to the P-note holder.
The actual investor remains anonymous to Indian regulators (though disclosure norms have tightened).
Why Were P-Notes Popular?
- Ease of investment
- Minimal documentation
- Faster market entry
- Anonymity
At one time (early 2000s), P-notes accounted for over 40% of FPI investments in India.
Advantages
- Enables foreign capital inflow.
- Increases liquidity in Indian markets.
- Convenient for hedge funds and short-term investors.
4. NPCI Extends “UPI One World” Wallet & Launches AI Payment Initiatives
Source: ET
Why in News?
NPCI expanded the “UPI One World” wallet service for foreign delegates from over 40 countries attending the India AI Impact Summit 2026, along with launching AI-driven payment innovations.
What is UPI One World Wallet?
A special digital payment facility for foreign visitors that allows them to make UPI payments in India without needing:
- An Indian bank account
- An Indian mobile number
Enables seamless digital payments for international travellers.
Key Features
- Designed for short-term foreign visitors.
- Supports QR-based UPI transactions.
- Promotes cashless payments and tourism convenience.
Other Major Launches
Finance Model for India (FiMI)
- AI-based small language model developed by NPCI.
- Designed to handle:
- UPI dispute resolution
- Customer support queries
- Regulatory guidance
- Ecosystem information
AI-Powered UPI Pilot (NPCI + Razorpay)
- Conversational AI-based payments.
- Users can order food, groceries, and essentials directly within a chat interface.
- Integrated with platforms like:
- Zomato
- Swiggy
- Zepto
Strategic Partnership with Nvidia
- To develop sovereign AI models for India’s payment ecosystem.
- Focus on secure, India-specific AI capabilities.
Facts To Remember
1. Tejal and Prema steal the show as India-A wins Rising Stars title
Tejal Hasanbis made an impactful unbeaten 51 off 34 balls on a slow turner before leg-spinner Prema Rawat made the ball talk as India-A outplayed Bangladesh- A by a whopping 46 runs in a low-scoring final to defend the ACC Women’s Asia Cup Rising Stars here on Sunday.
2. Regional Rapid Transit System (RRTS) Corridor
India’s first Regional Rapid Transit System (RRTS) corridor between Delhi and Meerut has become fully operational after inauguration by Prime Minister Narendra Modi, along with the Meerut Metro.
3. RBI Establishes High-Security Data Centre in Odisha
The Reserve Bank of India (RBI) has set up a high-security greenfield data centre in Bhubaneswar to protect critical financial infrastructure and ensure continuity of core banking systems.
4. Union Minister Piyush Goyal Launches 7 Additional Interventions under EPM
In February 2026, Piyush Goyal launched seven new interventions under the Export Promotion Mission (EPM) to strengthen MSME exports.
With this, 10 of the 11 proposed EPM interventions are now operational.
The initiatives are grouped under two pillars – Niryat Protsahan and Niryat Disha.
They aim to enhance credit access, logistics, compliance, and global competitiveness of MSMEs.
5. MoMA Organizes ‘Chintan Shivir’ at Nalanda University, Bihar
The Ministry of Minority Affairs held a ‘Chintan Shivir’ on 18–19 February 2026 at Nalanda University.
The event was led by Union Minister Kiren Rijiju.
Digital initiatives like the NIGRANI App and AI-powered chatbots were launched.
A Haj Wrist Band was also introduced to modernize Haj management.
6. World Bank’s MIGA Provides USD 197.67 Million Guarantee to Citibank
Multilateral Investment Guarantee Agency issued a USD 197.67 million guarantee to Citibank N.A..
The guarantee supports refinancing of State Bank of India’s rooftop solar programme.
It enables refinancing of the remaining USD 500 million IBRD loan.
The move frees lending space for additional World Bank financing in India.
7. ICICI Launches Swasthya Pension Scheme under NPS
ICICI Prudential launched “ICICI PF NPS Swasthya Equity Plus” under the National Pension System.
The scheme blends retirement planning with healthcare benefits.
It is introduced as a Proof of Concept under the PFRDA sandbox framework.
Subscribers can withdraw up to 25% of contributions for medical expenses.
8. NPCI Extends ‘UPI One World’ Wallet at India AI Impact Summit 2026
National Payments Corporation of India extended ‘UPI One World’ for foreign delegates at the India AI Impact Summit 2026.
The service enables UPI payments without an Indian mobile number or bank account.
NPCI also launched FiMI, an AI-based dispute resolution model.
It partnered with Razorpay and Nvidia to strengthen AI capabilities.
9. MoCI Revises Base Year of India’s Merchandise Trade Indices
The Ministry of Commerce and Industry revised the base year of merchandise trade indices to 2022-23.
The update replaces the earlier 2012-13 base year.
The revision was recommended by a committee led by Prof. Nachiketa Chattopadhyay.
It enhances relevance for GDP estimation and trade analysis.
10. Rajan Bajaj Appointed as MD & CEO of Slice SFB
Rajan Bajaj was appointed MD & CEO of Slice Small Finance Bank.
He assumed office on 17 February 2026.
He succeeds Satish Kumar Kalra.
His appointment marks Slice’s transition into a fully licensed SFB.
11. IA’s Konark Corps Tests Strela-10 Missiles in Rajasthan
The Indian Army’s Konark Corps conducted a live test of Strela-10 VSHORADS in Pokhran.
The system demonstrated precision targeting against aerial threats.
The exercise enhanced crew coordination and operational readiness.
The Strela-10 has an engagement range of 6–10 km.
12. Renowned Novelist Mani Shankar Mukhopadhyay Passed Away
Renowned Bengali writer Mani Shankar Mukhopadhyay passed away on 20 February 2026.
Popularly known as Shankar, he was 93 years old.
He received the Sahitya Akademi Award in 2021 for ‘Eka Eka Ekashi’.
His notable works include Chowringhee and Kato Ajanare.
13. International Mother Language Day 2026 – February 21
International Mother Language Day is observed annually on 21 February.
The 2026 theme is “Youth voices on multilingual education”.
It was proclaimed by UNESCO in 1999.
The day promotes linguistic diversity and cultural heritage worldwide.
14. World Pangolin Day 2026 – February 21
World Pangolin Day is observed on the third Saturday of February.
In 2026, it falls on 21 February marking the 15th observance.
The day raises awareness about pangolin conservation.
Reports highlight rising illegal trade and enforcement efforts.
15. Waaree Energies to Establish India’s Largest Battery Gigafactory in AP
Waaree Energies will set up a lithium-ion battery gigafactory in Andhra Pradesh.
The project involves an investment of Rs. 8,175 crore.
It will have a planned capacity of 16 GWh.
The facility received in-principle approval from the AP government.
16. Bihar Cabinet Approves Greenfield International Airport in Sonpur
The Bihar Cabinet approved a Greenfield International Airport in Sonpur.
The project is chaired by CM Nitish Kumar.
Rs 1,302 crore has been sanctioned for land acquisition.
Once completed, it will boost regional connectivity in Bihar.
17. India AI Impact Summit: Bangladesh becomes 89th Signatory to endorse New Delhi Declaration
The New Delhi Declaration on AI Impact, which was adopted in the India AI Impact Summit 2026, has been endorsed by 89 countries and international organisations.
18. India’s Forex Reserves Hit Record 725.727 Billion Dollars
India’s foreign exchange (forex) reserves surged by 8.663 billion dollars to an all-time high of 725.727 billion dollars during the week ended February 13.
19. Fifth edition of Goa Maritime Conclave 2026 concludes at Naval War College
The fifth edition of the Goa Maritime Conclave concluded at the Naval War College today, with Chief of the Naval Staff Admiral Dinesh K. Tripathi calling for stronger, technology-driven maritime cooperation in the Indian Ocean Region.
