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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Imposes ₹2.70 Lakh Penalty on Northern Arc Capital Limited

• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.70 lakh on Northern Arc Capital Limited.
• The penalty was imposed for non-compliance with RBI’s Know Your Customer (KYC) Directions.
• RBI exercised its powers under Section 58G(1)(b) read with Section 58B(5)(aa) of the RBI Act, 1934.
• RBI found that the company failed to implement an IT system/software for effective identification and reporting of suspicious transactions, a key KYC/AML requirement.
• The statutory inspection referred to the company’s financial position as on 31 March 2024.
• Northern Arc Capital Limited, founded in 2009, offers retail loans to underserved households and businesses in India.
• The penalty is based on regulatory compliance deficiencies and does not question the validity of any customer transactions.
• Imposition of the monetary penalty is without prejudice to any other action RBI may initiate against the company.

Nirmala Sitharaman Becomes Longest-Serving Continuous Finance Minister, to Present Ninth Straight Union Budget on 1 February 2026

• Nirmala Sitharaman is the longest-serving Finance Minister in continuous office, set to present her ninth consecutive Union Budget on 1 February 2026.
• She took charge of the Finance Ministry on 31 May 2019 and completed 6 years and 8 months in office by 31 January 2026.
• Former Prime Minister Morarji Desai presented the Union Budget 10 times, while P Chidambaram presented the Budget 9 times, but not for consecutive years.
• The longest earlier continuous tenure was by C D Deshmukh (1950–56), lasting about 6 years and 2 months.
• P Chidambaram served as Finance Minister for about 8 years, but in four separate stints.
• Others who served long but in non-consecutive stints include Morarji Desai (about 7 years 9 months), Pranab Mukherjee (6 years 4 months), Arun Jaitley (4 years 8 months), Y B Chavan (4 years 3 months), and Yashwant Sinha (4 years 4 months).
• The first Finance Minister of Independent India was R K Shanmukham Chetty.

World Bank Pledges $8–10 Billion Annual Financing to India for Next Five Years

• India and the World Bank Group (WBG) announced a new Country Partnership Framework (CPF) to support India’s next phase of growth and its Viksit Bharat
• The CPF was announced after a meeting between Finance Minister Nirmala Sitharaman and World Bank President Ajay Banga.

Key Highlights :

• The partnership will provide $8–10 billion in annual financing over the next five years, leveraging public funds, private capital, and global expertise.
• The CPF targets five job-generating sectors: infrastructure & energy, agribusiness, healthcare, tourism, and value-added manufacturing.
• Implementation of the CPF will begin immediately through ongoing projects, including:
• An $830 million loan to support Pradhan Mantri Skilling and Employability Transformation, upgrading ITIs to skill over one million youth, especially women.
• A $490 million Maharashtra project to enhance climate-resilient agriculture using digital and precision farming.
• The Kerala Health Systems Improvement Program with $280 million to strengthen digital health systems.
• Credila Financial Services initiative with $750 million to support higher education financing for up to 190,000 students.
• Programs to scale electric mobility, strengthen domestic manufacturing, and create jobs in clean transport.
• The partnership focuses on four strategic outcomes:
• Boosting rural prosperity and resilience through income diversification, value chains, market access, and water management.
• Supporting urban transformation and livable cities, with investments in infrastructure, housing, services, and integrated planning.
• Investing in people across the life cycle, from early childhood health to secondary education, market-aligned skills, and patient-centered health systems.
• Strengthening energy security, core infrastructure, and resilience, including renewable energy, e-mobility, and green hydrogen.
• The partnership reflects a new WBG engagement model emphasizing results, private capital mobilization, and strategic use of global knowledge alongside public financing.
• India is the WBG’s largest client, with IBRD commitments of $20 billion across 79 projects, IFC commitments of $16.72 billion across 174 projects, and $618 million in MIGA guarantees.

Recent News :

• In Jan 2026, The World Bank Group (WBG) released its flagship report titled “Global Economic Prospects (GEP): January 2026”, which projected India’s GDP growth at 7.2% in FY26, revised upward from the 6.3% forecast in June 2025.

About World Bank:

• The World Bank is an international financial institution that provides loans and grants to the governments of low and middle-income countries for the purpose of pursuing capital projects.
• The World Bank consists of 5 institutions: The International Bank for Reconstruction and Development (IBRD), The International Development Association (IDA), The International Finance Corporation (IFC), The Multilateral Investment Guarantee Agency (MIGA), and The International Centre for Settlement of Investment Disputes (ICSID).
• Founded Year: 1944
• Headquarters: Washington, D.C., United States
• President: Ajay Banga
• Members:189 countries

Insurance Regulatory and Development Authority of India Reconstitutes Reinsurance Advisory Committee for Three-Year Term

• The Insurance Regulatory and Development Authority of India (IRDAI), under the Ministry of Finance (MoF), reconstituted its Reinsurance Advisory Committee (RAC) with immediate effect for a three-year tenure.
• V. Girija Kumar, former Chairman and Managing Director (CMD) of Oriental Insurance Company Limited (OICL), was appointed as Chairman of the RAC.
• The Reinsurance Advisory Committee (RAC) has been reconstituted under Section 101B of the Insurance Act, 1938.
• The reconstitution aims to strengthen IRDAI’s advisory support on reinsurance-related matters by bringing together senior experts from the insurance and reinsurance ecosystem.
• Aruna Bowrampet, Deputy General Manager (Reinsurance), IRDAI, was appointed as the Secretary of the Committee.
• New RAC members include:
• Praveen Vashishta, former CEO & MD of Howden Insurance Brokers India Private Limited
• Roopam Asthana, former CEO, Liberty General Insurance
• L. Alamelu, former Whole-Time Member, IRDAI

About IRDAI :

• IRDAI was established in 1999 in Hyderabad, Telangana, under the IRDA Act, 1999, following recommendations of the Malhotra Committee to reform and liberalize the insurance sector, and became fully operational in 2000.
• The IRDAI structure consists of a Chairperson, 5 whole-time members, and 4 part-time members, appointed by the Government of India (GoI).
• Established : 1999.
• Headquarters : Hyderabad, Telangana
• Chairman : Ajay Seth

State Bank of India Unveils CHAKRA to Mobilise ₹100 Trillion Investment in Sunrise Sectors Over Five Years

• State Bank of India (SBI) launched CHAKRA (Centre of Excellence) to finance sunrise sectors vital for India’s economic transformation and sustainable growth.
• CHAKRA will focus on renewable energy, EVs, green hydrogen, advanced cell chemistry, battery storage, semiconductors, decarbonisation, data centres, and smart infrastructure.
• These sectors have a combined investment potential of ~₹100 trillion over the next five years, with SBI estimating a lendable opportunity of ₹20–22 trillion.
• SBI signed MoUs with 21 financial institutions, enabling co-financing and capacity building through joint project finance teams stationed at CHAKRA.
• Global participation includes Japanese banks SMBC and MUFG, along with Indian DFIs such as PFC, REC, and NaBFID, with discussions ongoing with European and US banks.
• CHAKRA will support informed decision-making through white papers, sector reports, knowledge series, industry roundtables, and policy dialogues.
• The Centre will enable structured engagement with DFIs, multilateral agencies, banks, NBFCs, industry bodies, corporates, start-ups, academia, and policy think tanks.
• Through CHAKRA, SBI aims to strengthen capabilities, promote innovation-focused enterprises, and improve capital flow to sectors driving India’s technology-led and sustainable future, building on its earlier MSME Centre of Excellence.

Slice Launches India’s First Fully UPI-Integrated Digital Banking Platform

• Slice Small Finance Bank (Slice SFB) introduced three financial products: Digital Savings Account linked to the Repo rate, UPI-integrated credit card, and digital Fixed Deposits (FDs).

Key Highlights :

Digital Savings Bank Account

• Slice launched India’s first savings account linked to 100% of the Repo rate of RBI.
• Interest is calculated and credited daily, allowing money to grow in real time.
• The account offers transparent returns, no minimum balance requirements, instant liquidity, and full digital access, including UPI for everyday payments.

UPI Credit Card

• Enables customers to scan and pay at any UPI-enabled merchant using an approved credit limit instead of traditional card rails.
• Offers up to 3% cashback, “Slice in 3” no-cost EMI conversion on purchases above 2,000, and weekly rewards through Slice Sparks.
• Has no joining, renewal, or annual fees and provides fully digital onboarding.

Digital Fixed Deposits (FDs)

• Can be opened and managed entirely through the app.
• Offers interest rates up to 25% per annum and is insured up to Rs.5 lakh by DICGC, Ministry of Finance (MoF).

Recent News :

• In July 2025, Slice opened India’s first UPI-powered physical bank branch in Bengaluru, Karnataka.

About Slice SFB :

• Chief Executive Officer (CEO) : Rajan Bajaj
• Headquarters : Guwahati, Assam
• Established : 2016

United Arab Emirates Central Bank Approves Country’s First USD-Linked Stablecoin

• The Central Bank of the United Arab Emirates (UAE) approved the country’s first USD-backed stablecoin, marking a major step in regulating digital assets and payment tokens.
• The stablecoin, named USDU, is approved under the Payment Token Services Regulation framework of the UAE Central Bank.

Key Highlights :

• USDU is issued and managed by Universal Digital Intl Limited, which is regulated by Abu Dhabi Global Market’s (ADGM) Financial Services Regulatory Authority.
• Universal Digital has become the first foreign payment token issuer registered with the UAE Central Bank.
• The approval places the UAE among the first major financial jurisdictions to implement a fully regulated framework for USD-denominated digital settlements.
• Stablecoins are cryptocurrencies pegged to reserve assets such as the US dollar, designed to minimise price volatility and are suitable for payments, settlements, and cross-border transfers on blockchain systems.
• The Payment Token Services Regulation sets rules for issuance, reserve backing, and governance of payment tokens and allows foreign payment tokens to be registered if they meet disclosure, custody, and compliance standards.
• USDU is pegged 1:1 to the U.S. dollar, with reserves held in UAE-based banks like Emirates NBD and Mashreq, and Mbank as a strategic partner.
• The framework limits usage of foreign payment tokens, focusing on cross-border settlement, digital asset transactions, and regulated financial use cases, not as a replacement for cash or domestic payment instruments.
• The approval follows years of regulatory buildup in the UAE, addressing risks such as reserve opacity and governance gaps observed in global stablecoin failures.
• The UAE approach separates domestic payment use from foreign payment tokens, providing a regulated USD-linked token within the banking and compliance environment for institutions in the Middle East, Africa, and Asia.
• The framework emphasizes control, reserve transparency, and limited scope, reflecting lessons from earlier market disruptions, rather than pushing for retail adoption.

Paysharp Gets RBI’s Payment Aggregator–Physical (PA-P) Licence to Offer Offline Payment Services

• Fintech startup Paysharp received the Payment Aggregator–Physical (PA-P) licence from the Reserve Bank of India (RBI), enabling it to operate as a physical (offline) payment aggregator and enhance its payment service offerings.
• In August 2024, Paysharp had received the Payment Aggregator–Online (PA-O)

About PA-P Licence :

• Enables unified online–offline payments, allowing Paysharp to offer end-to-end payment acceptance services across online and offline channels from a single regulated platform.
• Supports an omnichannel approach, serving merchants in stores, on-the-go, and online without relying on third-party aggregators.

About Paysharp :

• Established in 2019 in Chennai, Tamil Nadu (TN), by Krishna Kumar Mani and Sathish S.
• Uses a flat-fee pricing model, allowing merchants to pay a fixed charge per transaction instead of a percentage-based Merchant Discount Rate (MDR).
• Customers include Government and B2B enterprises, Non-Banking Financial Companies (NBFCs), Small & Medium Businesses (SMBs), and E-Commerce merchants.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Mumbai to Host 6th National Crop Nutrition Summit 2026

• Mumbai will host the 6th National Crop Nutrition Summit on 5–6 February 2026 at the National Stock Exchange Complex, Bandra Kurla Complex, Mumbai.
• The two-day summit is being organised by the Indian Micro-Fertilizers Manufacturers Association.
• The theme of the summit is “Converge, Collaborate and Co-create”.
• The summit will focus on micronutrients, specialty fertilizers, and biological inputs, reflecting the changing priorities in Indian agriculture due to soil nutrient depletion and sustainability concerns.
• Key discussions will cover precision crop nutrition, sustainable input usage, regulatory and policy reforms, and expansion of domestic manufacturing capacity.
• Emphasis will be placed on positioning India as a global agri-input manufacturing and export hub, while ensuring farmer productivity and soil health.
• The summit will be inaugurated by Jayakumar Jitendrasinh Rawal, Minister of Marketing and Protocol, Government of Maharashtra.
• P. K. Singh, Agriculture Commissioner of India, will attend as Guest of Honour and outline the Government of India’s vision on agri-input reforms, specialty fertilizers, biologicals, ease of doing business, and export competitiveness.

RECENT NEWS

• Mumbai on 11th January, 2026 witnessed a proud and emotional celebration of India’s military legacy. The city hosted the fifth edition of the Tri-Services Veterans Day parade at Marine Drive, bringing together veterans from the Army, Navy, and Air Force.

Patna Bird Sanctuary and Chhari-Dhand Declared Ramsar Sites; India’s Total Ramsar Sites Reach 98

• India has added two new wetlands to the Ramsar List of Wetlands of International Importance, strengthening its global commitment to wetland and biodiversity conservation.
• The newly designated sites are Patna Bird Sanctuary in Etah district, Uttar Pradesh, and Chhari-Dhand in Kutch district, Gujarat.
• With this addition, India’s total Ramsar sites have increased to 98.
• The recognition has been granted under the Ramsar Convention on Wetlands, an international treaty adopted in 1971 at Ramsar, Iran, for the conservation and wise use of wetlands.
• India became a signatory to the Ramsar Convention in 1982.
• Patna Bird Sanctuary is a freshwater wetland located in the Gangetic plains.
• It supports a large number of resident and migratory bird species.
• During winter, it serves as an important habitat for migratory birds from Central Asia and Siberia, highlighting its ecological significance.
• Chhari-Dhand is a seasonal saline wetland located in the arid landscape of Kutch.
• Despite harsh climatic conditions, it supports migratory birds, desert wildlife, and rich biodiversity.
• The wetland is home to species such as chinkara, wolf, caracal, desert cat, desert fox, and several endangered bird species.
• The expansion of India’s Ramsar network reflects a rise from 26 sites in 2014 to 98 sites in 2026, showing a growth of over 276 per cent.
• The development underscores India’s commitment to ecosystem protection, biodiversity conservation, climate regulation, flood control, and groundwater recharge under global environmental frameworks.

RECENT NEWS

• IIT Patna has inaugurated Bihar’s first Param Rudra supercomputer, marking a major milestone in the National Supercomputing Mission (NSM). This advanced computing facility will strengthen research capabilities in the region and help students, faculty, and researchers tackle complex scientific and technological challenges.

Indian Railways Commissions Record 472.3 km of Kavach Version 4.0 in a Single Day

• Indian Railways commissioned Kavach Version 4.0 over 472.3 route kilometres in a single day, the highest-ever Kavach rollout in India.
• Kavach 4.0 became operational on Western Railway, Northern Railway and East Central Railway sections.
• This achievement surpassed the previous single-day record of 324 km on the Kota–Mathura section.
• The rollout reflects faster execution, better coordination and growing trust in indigenous safety systems.
• With this commissioning, Kavach 4.0 is operational across five Indian Railways zones.
• Route-wise coverage includes:
• Vadodara–Virar (344 km) on Western Railway.
• Tuglakabad Junction Cabin–Palwal (35 km) on Northern Railway.
• Manpur–Sarmatanr (93.3 km) on East Central Railway.
• On Northern Railway, Kavach has been commissioned on the Tuglakabad–Palwal section, part of the four-line Delhi–Mumbai corridor.
• The section includes automatic and absolute block signalling lines and handles heavy passenger, suburban and freight traffic.
• Kavach improves safety by preventing Signal Passing at Danger (SPAD) and overspeeding on one of India’s busiest routes.
• On East Central Railway, Kavach is operational on the Manpur–Sarmatanr section of the Delhi–Howrah trunk route.
• The 13305 Sasaram Intercity Express became the first train to operate under Kavach on this section.
• Successful demonstration of automatic braking during a head-on collision test was conducted.
• The route is cleared for 130 kmph and targeted for 160 kmph under Mission Raftar.
• Kavach is planned over 4,235 route kilometres in East Central Railway.
• On Western Railway, Kavach 4.0 was commissioned on the Vadodara–Surat–Virar section of the Delhi–Mumbai route.
• 20907 Dadar–Bhuj Sayajinagri Express became the first Kavach-equipped train to operate from Mumbai.
• Work on this corridor started in January 2023.
• Vadodara–Nagda section is targeted by March 2026, while Virar–Mumbai Central section is targeted by September 2026.
• Kavach Version 4.0 is India’s latest indigenous Automatic Train Protection (ATP) system.
• It is approved by the Research Designs and Standards Organisation (RDSO) and certified by an Independent Safety Assessor (ISA).
• Kavach meets the SIL-4 safety integrity level, the highest globally.
• The system uses microprocessors, GPS-based train location, and radio communication for real-time safety decisions.
• It provides automatic protection against Signal Passing at Danger (SPAD) and helps prevent train collisions and overspeeding accidents.

Supreme Court Declares Menstrual Health as Part of Article 21

• The Supreme Court of India has declared menstrual health and hygiene as an integral part of the Right to Life and Personal Liberty under Article 21 of the Constitution.
• The Court directed all States and Union Territories to ensure free sanitary pads, separate toilets, water supply and safe disposal facilities in all government and private schools.
• A three-month deadline has been given for compliance.
• The ruling treats menstrual hygiene as a constitutional obligation, not merely a welfare measure, noting that lack of facilities forces girls out of classrooms due to stigma and exclusion.
• The judgment was delivered by a Bench of Justice J B Pardiwala and Justice R Mahadevan.
• The Court held that Menstrual Hygiene Management (MHM) is inseparable from the right to live with dignity.
• It observed that dignity must reflect in everyday living conditions, and denial of basic menstrual facilities leads to humiliation, exclusion and avoidable suffering, violating Article 21.
• All schools, government and private, urban and rural, must provide functional gender-segregated toilets with:
• Continuous water connectivity
• Privacy and hand-washing facilities with soap
• Accessibility for children with disabilities
• Private schools failing to comply may face de-recognition, while State governments will be held directly accountable for lapses in government schools.
• Schools must provide free oxo-biodegradable sanitary napkins compliant with ASTM D-6954 standards.
• Sanitary pads should preferably be supplied through vending machines installed inside toilets.
• Where vending machines are not feasible, pads must be made available through designated school authorities.
• The Court also mandated safe, hygienic and environmentally compliant disposal mechanisms in line with Solid Waste Management Rules.
• Schools must establish MHM corners equipped with:
• Spare uniforms and innerwear
• Disposable bags and essential emergency materials
• These measures aim to reduce absenteeism and school dropouts linked to menstruation-related fear or discomfort.
• To address stigma, the Court directed National Council of Educational Research and Training (NCERT) and State Council of Educational Research and Training (SCERT) to include gender-responsive education on:
• Menstruation and puberty
• Reproductive health issues such as Polycystic Ovary Syndrome (PCOS) and Polycystic Ovary Disease (PCOD)
• Awareness campaigns must be carried out through print, radio, television, social media and outdoor platforms.
• The ruling is supported by the Right to Education Act, 2009, particularly Section 19 and its Schedule, which mandate separate toilets for boys and girls and barrier-free access.
• The Court clarified that barrier-free access includes removal of menstrual hygiene barriers, as their absence leads to learning gaps and dropouts among adolescent girls.

Mumbai–Ahmedabad Bullet Train Project Achieves Major Engineering Milestone

• India successfully completed a 100-metre-long steel bridge for the Mumbai–Ahmedabad Bullet Train Project at Ahmedabad, Gujarat.
• The bridge has been built entirely under the Make in India initiative and is a rare structure constructed over an underground metro tunnel without transferring any load to it.
• This achievement highlights India’s growing capability in high-speed rail infrastructure and complex urban engineering.
• The special bridge was required because the bullet train alignment passes above the underground metro tunnel between Kalupur and Shahpur stations in Ahmedabad.
• Usual bullet train viaducts use 30–50 metre concrete spans, but constructing foundations close to the metro tunnel posed serious structural risks.
• Engineers redesigned the alignment and increased the span to around 100 metres, ensuring the metro tunnel remains completely unaffected.
• Due to safety concerns, the design was changed from a standard concrete viaduct to a steel truss bridge.
• This design ensured simultaneous safety of the bullet train above and metro services below.
• The bridge was assembled at a height of 16.5 metres using temporary trestles.
• After assembly, the trestles were dismantled and the bridge was lowered and placed precisely on permanent supports.
• The entire operation was completed without disrupting metro or railway operations, demonstrating high execution precision in congested urban areas.
• The Mumbai–Ahmedabad Bullet Train Project is India’s first high-speed rail corridor, implemented by the National High Speed Rail Corporation Limited (NHSRCL).
• It aims to reduce travel time between Mumbai and Ahmedabad to about two hours.
• The project represents India’s push toward modern transport infrastructure, technology transfer, and indigenous manufacturing under Make in India.

Assam Launches Mukhya Mantrir Eti Koli Duti Paat Scheme for Tea Garden Workers

• The Government of Assam has launched the Mukhya Mantrir Eti Koli Duti Paat Scheme to provide one-time financial assistance to tea garden workers across the state.
• The scheme recognises the historic contribution of tea garden communities to Assam’s economy and focuses on social security, dignity, and inclusive growth in tea-growing regions.
• The scheme was launched by Chief Minister Himanta Biswa Sarma at Doomdooma in Tinsukia district.
• Under the scheme, more than ₹300 crore will be disbursed as one-time assistance of ₹5,000 each.
• The benefit will reach over six lakh tea garden workers.
• Beneficiaries include both permanent and casual labourers.
• The scheme covers 836 tea gardens spread across 27 districts and 73 Assembly constituencies of Assam.
• The objective is to provide immediate financial relief and reinforce the state’s commitment to worker welfare.
• The Assam government announced that land rights will be granted to tea garden workers and indigenous families residing in labour lines.
• Applications for land titles will begin from February.
• Conditions include that the land cannot be sold for at least 10 years and can be transferred only within the tea community.
• This initiative aims to provide long-term social security and asset ownership.
• Cultural promotion through Jhumoir dance was emphasised to preserve the identity and heritage of tea tribes.
• Tea tribes have also been provided 3 percent reservation under Other Backward Classes in Grade III and Grade IV government jobs.

About Assam:

• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary

CURRENT AFFAIRS: AWARDS AND HONOURS

Tamil Nadu State Film Awards (2016–2022): Full Winners Summary

• Government of Tamil Nadu announced the long-pending State Film Awards for 2016 to 2022.
• Awards recognise a socially conscious and artistically significant phase of Tamil cinema.
• Films addressing justice, caste realities, marginalisation, women empowerment and constitutional values dominated the honours.
• Awards Ceremony scheduled on 13 February 2026 at Kalaivanar Arangam, Chennai.
• Awards will be presented by the Deputy Chief Minister of Tamil Nadu.
• Tamil Nadu State Film Awards are among the oldest and most prestigious state-level cinema honours in India.
• Major Standout Films
• Gargi (2022) – Best Film (First Prize); Sai Pallavi won Best Actress.
• Jai Bhim (2021) – Best Film (First Prize); strong focus on social justice and constitutional rights.
• Other impactful films include Pariyerum Perumal, Asuran, Koozhangal, Maanagaram.
• Notable Acting Achievements
• Dhanush – Best Actor for Vada Chennai (2018).
• Vikram Prabhu – Best Actor for Taanakkaran (2022).
• Other major awardees across years: Vijay Sethupathi, Arya, Nayanthara, Jyothika, Keerthy Suresh, Manju Warrier, Sai Pallavi.
• Direction and Music Recognition
• Lokesh Kanagaraj – Best Director for Maanagaram (2016).
• Gautham Ramachandran – Best Director for Gargi (2022).
• AR Rahman – Best Music Director for Ponniyin Selvan: I.
• Santhosh Narayanan – Best Music Director for Vada Chennai.

• 2016 Award Winners
• Best Film: Maanagaram
• Best Film (Special Prize): Manusangada
• Best Film About Women Empowerment: Aruvi
• Best Actor: Vijay Sethupathi – Puriyatha Puthir
• Best Actress: Keerthy Suresh – Paambu Sattai
• Best Director: Lokesh Kanagaraj – Maanagaram
• Best Music Director: Sam CS – Puriyatha Puthir
• Best Lyricist: Madhan Karky
• Best Stunt Coordinator: Anbariv
• 2017 Award Winners
• Best Film (First Prize): Aramm
• Best Actor: Karthi – Theeran Adhigaram Ondru
• Best Actress: Nayanthara – Aramm
• Best Director: Pushkar–Gayathri – Vikram Vedha
• Best Music Director: Hip Hop Thamizhaa – Kavan
• 2018 Award Winners
• Best Film (First Prize): Pariyerum Perumal
• Best Actor: Dhanush – Vada Chennai
• Best Actress: Jyothika – Chekka Chivantha Vaanam
• Best Director: Mari Selvaraj
• Best Music Director: Santhosh Narayanan
• 2019 Award Winners
• Best Film (First Prize): Asuran
• Best Actor: R Parthiban – Oththa Seruppu Size 7
• Best Actress: Manju Warrier – Asuran
• Best Director: R Parthiban
• Best Music Director: Thaman
• 2020 Award Winners
• Best Film (First Prize): Koozhangal
• Best Actor: Suriya – Soorarai Pottru
• Best Actress: Aparna Balamurali – Soorarai Pottru
• Best Director: Sudha Kongara
• Best Music Director: GV Prakash Kumar
• 2021 Award Winners
• Best Film (First Prize): Jai Bhim
• Best Actor: Arya – Sarpatta Parambarai
• Best Actress: Lijomol Jose – Jai Bhim
• Best Director: Tha Se Gnanavel
• Best Music Director: Sean Roldan
• 2022 Award Winners
• Best Film (First Prize): Gargi
• Best Actor: Vikram Prabhu – Taanakkaran
• Best Actress: Sai Pallavi – Gargi
• Best Director: Gautham Ramachandran
• Best Music Director: AR Rahman – Ponniyin Selvan: I
• Best Lyricist: Ilango Krishnan
• Best Art Director: Thota Tharani

Uttarakhand Wins Best State for Promotion of Aviation Ecosystem at Wings India 2026

• Uttarakhand has been awarded Best State for Promotion of Aviation Ecosystem at Wings India 2026, India’s flagship civil aviation conference and exhibition.
• The award was announced on 30 January 2026 and recognises the state’s policy support, infrastructure development, regional air connectivity, heli services, tourism growth, and disaster management benefits.
• This recognition is significant as Uttarakhand has challenging mountainous and remote terrain, yet has achieved notable progress in civil aviation.
• Wings India 2026 is India’s largest civil aviation event, bringing together policymakers, aviation companies, investors, and global stakeholders.
• Awards at Wings India are considered highly credible, as they reflect actual improvements in aviation policy and infrastructure.
• Uttarakhand’s selection places it alongside major aviation hubs despite geographical constraints.
• Uttarakhand was chosen due to consistent policy support and focused institutional efforts in aviation development.
• The state has worked through the Uttarakhand Civil Aviation Development Authority (UCADA) to expand airports, heliports, and regional air routes.
• Aviation development in the state covers both commercial flights and helicopter services, particularly for remote and hilly regions.
• These initiatives have reduced travel time, improved access to difficult areas, and supported economic activities.
• The award was received by senior officials of UCADA at a ceremony held at Begumpet Airport.
• The event was attended by the Union Civil Aviation Minister and senior officials of the Ministry of Civil Aviation.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Sunetra Pawar Becomes Maharashtra’s First Woman Deputy Chief Minister After Ajit Pawar’s Demise

• Sunetra Pawar, wife of late NCP leader Ajit Pawar, was appointed as the Deputy Chief Minister of Maharashtra, becoming the first woman DyCM since the state’s formation 66 years ago.
• The appointment followed the sudden death of Ajit Pawar (66) in an air crash at Baramati, triggering swift political developments in the state.
• Sunetra Pawar (62) is a Rajya Sabha Member of Parliament and was unanimously elected as the leader of the NCP legislature party before her appointment.
• The oath of office and secrecy was administered by Maharashtra Governor Acharya Devvrat at Lok Bhavan, Mumbai.
• The ceremony was attended by Chief Minister Devendra Fadnavis, Deputy Chief Minister Eknath Shinde, cabinet ministers, and senior leaders of the BJP-led Maha Yuti government.
• The NCP legislature party meeting was held at Vidhan Bhavan, presided over by NCP Working President Praful Patel, and conducted by NCP State President Sunil Tatkare.
• A resolution proposing her name was moved by Dilip Walse-Patil and seconded by Chhagan Bhujbal, reflecting unanimous party support.
• Ajit Pawar was the longest-serving Deputy Chief Minister of Maharashtra, holding the post for nearly nine years, making Sunetra Pawar’s appointment both historic and symbolic.

About Maharashtra:

• Chief Minister: Devendra Fadnavis
• Governor: Acharya Devvrat
• Capital: Mumbai
• National Parks: Tadoba National Park, Sanjay Gandhi National Park, Chandoli National Park, Gugamal National Park, Navegaon National Park
• Wildlife Sanctuaries: Bhimashankar Wildlife Sanctuary, Koyna Wildlife Sanctuary, Karnala Bird Sanctuary, Melghat Wildlife Sanctuary, Radhanagari Wildlife Sanctuary

Sarah Mullally Becomes First Woman Archbishop of Canterbury, Leading Church of England

• Sarah Mullally was confirmed as the Archbishop of Canterbury, becoming the first woman to lead the Church of England in its 1,400-year history and the 106th Archbishop of Canterbury.
• Her confirmation took place in a centuries-old ceremony at St Paul’s Cathedral, London, formally recognised by ecclesiastical judges.
• She succeeds Justin Welby, who resigned in November 2024 following allegations related to failure to act adequately on information about a child abuse case.
• Sarah Mullally (63 years) is a former Chief Nursing Officer of England and has served as the Bishop of London since 2018; she is also a former cancer nurse.
• As Archbishop, she will lead around 85 million Anglicans worldwide, making her one of the most influential figures in global Christianity.
• She was nominated by a 17-member commission (the Crown Nominations Commission) comprising clergy and laity, reflecting the Church’s consultative appointment process.
• Her appointment was formally approved by King Charles III, who serves as the Supreme Governor of the Church of England.
• Formal installation will take place in March 2026, when she will assume office as Bishop of the Diocese of Canterbury, marking the start of her public ministry.

Hindustan Aeronautics Limited Appoints Kota Ravi as New Chairman and Managing Director

• Hindustan Aeronautics Limited (HAL), a premier Schedule A Central Public Sector Enterprise (CPSE) under the Ministry of Finance (and administratively under the Ministry of Defence), appointed Kota Ravi as its new Chairman and Managing Director (CMD).
• He will succeed Dr. D.K. Sunil, who is set to retire in April 2026.
• Kota Ravi has over three decades of experience in aviation, manufacturing, and aerospace programme management.
• He contributed to establishing infrastructure and processes to produce up to 16 Tejas aircraft per year and supported the delivery of the first twin-seater variant.
• Key roles include serving as Executive Director (ED) – Corporate Planning of HAL and ED & General Manager (GM), Light Combat Aircraft (LCA) Tejas Division, leading India’s indigenous fighter aircraft programme.
• He currently serves as Director (Operations) of HAL.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Signs Deal with US Firm Shield AI to Procure V-BAT VTOL Drones Made in India

• The Indian Army (IA) signed an agreement with USA defence technology firm Shield AI for the procurement of V-BAT VTOL Unmanned Aircraft System (UAS) to be manufactured in India.
• Under the agreement, Shield AI will supply V-BAT drones and licenses for Hivemind autonomy software, enabling the armed forces to develop and test mission-specific autonomy applications.
• V-BAT is classified as a ‘Group-3’ VTOL UAS and features a ducted-fan design, allowing vertical take-off and landing without runways.
• Key features of V-BAT include a heavy-fuel engine, long-endurance surveillance of over 12 hours, capability to operate in difficult terrain and high-threat environments, and a lower logistical footprint.

Recent News :

• In December 2025, JSW Defence Private Limited, with an investment of USD 90 million, started the construction of a manufacturing unit for V-BAT production at Electronic Manufacturing Clusters (EMC) Maheshwaram, near Hyderabad (Telangana).

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Alpha Design Technologies Limited Completes Major Upgrade of Indian Air Force’s  Pechora Missile System, Boosting Indigenous Modernisation

• Bengaluru-based defence manufacturer Alpha Design Technologies Limited (ADTL) completed a major upgrade of the Indian Air Force’s (IAF) Pechora surface-to-air missile (SAM) system, supporting India’s push to modernise ageing military platforms through indigenous capability.
• The fully digitised upgrade is expected to enhance operational effectiveness and strengthen India’s layered air defence architecture.

Key Highlights :

• The Pechora system, inducted in the 1970s, has been a critical part of India’s air defence network for nearly five decades and faced obsolescence challenges due to rapid technological advances.
• The IAF initiated a comprehensive upgrade programme to extend service life and improve combat performance, with ADTL signing a Rs 591.3 crore contract on 25 September 2020.
• The upgrade involved complete digitisation, improving response time, accuracy, and maintainability, with key subsystems indigenously manufactured including thermal imaging fire control units, software-defined radios, handheld laser target designators, and missile launch detection systems.
• The project aligns with the Centre’s emphasis on self-reliance in defence manufacturing and reducing dependence on imported platforms.
• Firing trials of the first fully upgraded Pechora system were successfully conducted between 6 November – 26 December 2025, validating operational readiness under field conditions.
• The upgraded platform is expected to contribute to Mission Sudarshan Chakra, aimed at creating an integrated air defence shield against threats ranging from drones to high-speed fighter aircraft.
• This is the first instance of an Indian private firm modernising a vintage Russian-origin weapon system and conducting successful surface-to-air missile launches, demonstrating that legacy imported systems can be modernised indigenously at a fraction of the cost of acquiring new platforms.
• The Pechora Missile System (S-125 Neva/Pechora) is a Soviet-origin, medium-range SAM system designed to intercept low- to medium-altitude targets.
• The system consists of a radar-guided missile launcher and fire control unit, typically using V-600 missiles, and employs the 4R90 Yatagan radar with five parabolic antennas to detect, track, and lock onto targets.
• Once a threat is identified, the system can launch missiles to intercept and destroy it mid-air, and it is effective against slow-moving or low-flying targets, including drones and cruise missiles.
• The system can operate independently or as part of an integrated air defence network and can function even in environments with heavy electronic jamming.
• The operational firing range is 30–35.4 km, and some upgraded versions reach 35.4 km, with an altitude engagement range of 20 meters to 20–25 km.
• The radar can detect targets up to 100 km away, providing early warning and engagement capability, with a high kill probability of around 92% and ability to engage up to two targets simultaneously at speeds up to 900 m/s.

CURRENT AFFAIRS: RANKING AND INDEX

Numbeo Cost of Living Index by City 2026

• The Cost-of-Living Index by City 2026 has been released by Numbeo, analysing global urban living expenses amid inflation, currency fluctuations, and rising demand for premium lifestyles.
• The index highlights a clear global pattern where Swiss cities dominate the list of the world’s most expensive cities, while Indian cities continue to remain among the most affordable globally.
• The rankings provide important insights into global urban economics, affordability, and purchasing power, making it relevant for competitive examinations.
• The Cost of Living Index measures average expenses for a family of four, covering food, transportation, utilities, and rent.
• New York City is used as the base city with an index score of 100.
• Cities scoring above 100 are more expensive than New York, while those below 100 are cheaper, allowing direct global cost comparisons.
• Zurich, Switzerland, topped the global rankings in 2026 with a cost-of-living index of 118.5, retaining its position as the most expensive city in the world.
• Switzerland emerged as the global epicentre of high living costs, placing six cities in the top 10: Zurich, Geneva, Basel, Lausanne, Lugano, and Bern.
• The dominance of Swiss cities is driven by high wages, a strong Swiss franc, premium housing prices, and high-quality public services.
• Top 10 Most Expensive Cities in the World (2026)
1. Zurich – Switzerland
2. Geneva – Switzerland
3. Basel – Switzerland
4. Lausanne – Switzerland
5. Lugano – Switzerland
6. Bern – Switzerland
7. New York City – United States
8. Reykjavik – Iceland
9. Honolulu – United States
10. San Francisco – United States
• Zurich’s position at the top reflects a balance where very high living costs coexist with strong purchasing power, making it expensive yet attractive for skilled professionals.
• Housing, healthcare, and service costs remain the biggest contributors to Zurich’s high index score.
• A notable trend in 2026 is the slippage of major US cities.
• New York City, which ranked 4th in 2025, dropped to 7th place in 2026.
• San Francisco slipped to 10th, while Honolulu ranked 9th, indicating a relative stabilisation of rents and currency effects in the United States.
• This suggests that although US cities remain costly, their rate of cost escalation has slowed compared to Europe.
• Reykjavik (Iceland) ranked 8th, largely due to high import costs and limited housing supply.
• Singapore remained the only Asian city in the global top 20, ranking 14th, while Tel Aviv-Yafo climbed sharply but narrowly missed the top 10.
• Indian cities continued to feature among the world’s lowest-cost urban centres.
• In 2026, Indore ranked 477, Bhopal ranked 473, and Patna ranked 470.
• These cities overtook locations such as Cairo, Lahore, and Karachi in affordability rankings.
• Lower housing costs, food prices, and service expenses keep Indian cities highly affordable on a global scale.

CURRENT AFFAIRS: SPORTS NEWS

Novak Djokovic Becomes Oldest Australian Open Finalist in Open Era (2026)

• Novak Djokovic created history at the Australian Open 2026 by becoming the oldest man in the Open Era to reach the final, breaking a 53-year-old record.
• He achieved the feat at the age of 38 years after defeating Jannik Sinner in the semifinal on 30 January 2026.
• Djokovic broke the record held by Ken Rosewall, who was 37 years, 2 months, and 1 day old when he won the Australian Open in 1972.
• This makes Djokovic the oldest finalist at the Australian Open in the Open Era.
• In the semifinal, Djokovic defeated Jannik Sinner in a five-set marathon with the scoreline 3–6, 6–3, 4–6, 6–4, 6–4.
• The match lasted over four hours and concluded close to 2:00 am local time at Rod Laver Arena.
• With this win, Djokovic advanced to his 38th Grand Slam final.
• He is chasing his 11th Australian Open title and a record-extending 25th Grand Slam title.
• The victory marked his first five-set win at a Grand Slam since the 2024 French Open final.
• Djokovic reached the final despite recent losses to Sinner, who had beaten him in their previous five encounters, highlighting Djokovic’s longevity, fitness, and mental resilience.
• In the final, Djokovic will face Carlos Alcaraz, setting up a high-profile clash between experience and youth.
• Djokovic currently leads their head-to-head 5–4, though Alcaraz won their last Grand Slam final meeting at Wimbledon 2024.

CURRENT AFFAIRS: IMPORTANT DAYS

Indian Coast Guard Day 2026: 01st February

• The ICG Dayor Indian Coast Guard Day is celebrated on 01st February every year.
• The Indian Coast Guard is a multi-mission organization, conducting round-the-year real-life operations at sea. Despite being relatively small, it has a wide range of task capabilities for both surface and air operations.

History

• The Indian Coast Guard was initially established on 1 February 1977 due to an emergency.
• In those days, sea-borne smuggling threatened the country's domestic economy. In the interim, the Indian Coast Guard was created in 1977 to prevent the smuggling of goods on the Sea.
• The Nagchaudhuri Committee was formed with the participation of the Indian Navy and the Indian Air Force to analyze the problem.
• Till then, the Indian navy was involved in anti-smuggling activities.
• The committee members came up with a solution to the need for the patrol to watch the activities performed on the coast.
• They set up a registry of offshore fishing vessels to identify illegal activity and establish a capable and well-equipped force to intercept vessels engaged in illegal activities.
• On the 18th of August,1978 the Indian Coast Guard was established officially and was declared by the Parliament of India by the Coast Guard Act, 1978. To provide non-military maritime services to the nation, the Indian Coast was created based on the ideas of the Indian Navy.

World Wetlands Day is celebrated on 2nd February

• World Wetlands Dayis celebrated on 2nd February every year. 
• Aims to raise global awareness about the vital role of wetlands for people and the planet.
• This day also marks the date of the adoption of the Convention on Wetlands on 2 February 1971, in the Iranian city of Ramsar.

History

• Because of the many benefits we get from wetlands, World Wetlands Day is observed on February 2every year to raise awareness about their importance and the need to preserve them.
• On this day, The Convention on Wetlands was adopted in 1971.
• This year is especially significant as World Wetlands Day 2025 will be observed as a United Nations international day for the second time.
• On August 30 last year, the United Nations General Assembly adopted a resolution to mark the day. 
• The day is celebrated to mark the date of the adoption of the Convention on Wetlands on February 2, 1971, in the Iranian city of Ramsar on the shores of the Caspian Sea. World Wetlands Day was first celebrated in 1997.

Rheumatoid Arthritis Awareness Day 2026 is observed on 2nd February

• Rheumatoid Arthritis Awareness Day is observed on 2nd February.
• On this day, the Rheumatoid Patient Foundation was founded to raise awareness of the illness.
• An autoimmune disorder called rheumatoid arthritis affects the joints, inflames them, and results in other severe disorders. 

History

• Rheumatoid Arthritis (R.A.) is a chronic inflammatory disorder that can affect our joints. R.A. is an auto-immune condition, meaning the body’s immune system attacks its tissues.
• Alfred B. Garrod started calling the disease “Rheumatoid Arthritis” in 1858.
• It was earlier confused with Osteoarthritis. Garrod corrected the name and gave a distinction between both. In earlier years, treatment options were traditional methods like bloodletting and leaching.
• The use of heavy metal medications has started to show some promise. Only after 1949 did pain relievers become available. Methotrexate treatments started appearing around 1988.
• For some people, the condition can go into remission and reappear after a few months or weeks.
• In 2011, patients came together and formed the Rheumatoid Patient Foundation. The purpose of the organization is to spread awareness about the condition and the treatment options available.
• In 2013, the foundation started Rheumatoid Awareness Day to raise awareness and resolve misconceptions about the disease.

Daily CA One- Liner: February 1 & 2

• Mumbai will host the 6th National Crop Nutrition Summit on 5–6 February 2026 at the National Stock Exchange Complex, Bandra Kurla Complex, Mumbai
• India has added two new wetlands to the Ramsar List of Wetlands of International Importance, strengthening its global commitment to wetland and biodiversity conservation
• Indian Railways commissioned Kavach Version 4.0 over 472.3 route kilometres in a single day, the highest-ever Kavach rollout in India
• The Supreme Court of India has declared menstrual health and hygiene as an integral part of the Right to Life and Personal Liberty under Article 21 of the Constitution
• India successfully completed a 100-metre-long steel bridge for the Mumbai–Ahmedabad Bullet Train Project at Ahmedabad, Gujarat
• The Government of Assam has launched the Mukhya Mantrir Eti Koli Duti Paat Scheme to provide one-time financial assistance to tea garden workers across the state
• Government of Tamil Nadu announced the long-pending State Film Awards for 2016 to 2022
• Uttarakhand has been awarded Best State for Promotion of Aviation Ecosystem at Wings India 2026, India’s flagship civil aviation conference and exhibition
• The Cost-of-Living Index by City 2026 has been released by Numbeo, analysing global urban living expenses amid inflation, currency fluctuations, and rising demand for premium lifestyles
• Novak Djokovic created history at the Australian Open 2026 by becoming the oldest man in the Open Era to reach the final, breaking a 53-year-old record
• The ICG Dayor Indian Coast Guard Day is celebrated on 01st February every year.
• World Wetlands Dayis celebrated on 2nd February every year. 
• Rheumatoid Arthritis Awareness Day is observed on 2nd February.
• The Reserve Bank of India (RBI) imposed a monetary penalty of ₹2.70 lakh on Northern Arc Capital Limited.
• Nirmala Sitharaman is the longest-serving Finance Minister in continuous office, set to present her ninth consecutive Union Budget on 1 February 2026.
• India and the World Bank Group (WBG) announced a new Country Partnership Framework (CPF) to support India’s next phase of growth and its Viksit Bharat
• The Insurance Regulatory and Development Authority of India (IRDAI), under the Ministry of Finance (MoF), reconstituted its Reinsurance Advisory Committee (RAC) with immediate effect for a three-year tenure.
• State Bank of India (SBI) launched CHAKRA (Centre of Excellence) to finance sunrise sectors vital for India’s economic transformation and sustainable growth.
• Slice Small Finance Bank (Slice SFB) introduced three financial products: Digital Savings Account linked to the Repo rate, UPI-integrated credit card, and digital Fixed Deposits (FDs).
• The Central Bank of the United Arab Emirates (UAE) approved the country’s first USD-backed stablecoin, marking a major step in regulating digital assets and payment tokens.
• Fintech startup Paysharp received the Payment Aggregator–Physical (PA-P) licence from the Reserve Bank of India (RBI), enabling it to operate as a physical (offline) payment aggregator and enhance its payment service offerings.
• Sunetra Pawar, wife of late NCP leader Ajit Pawar, was appointed as the Deputy Chief Minister of Maharashtra, becoming the first woman DyCM since the state’s formation 66 years ago.
• Sarah Mullally was confirmed as the Archbishop of Canterbury, becoming the first woman to lead the Church of England in its 1,400-year history and the 106th Archbishop of Canterbury.
• Hindustan Aeronautics Limited (HAL), a premier Schedule A Central Public Sector Enterprise (CPSE) under the Ministry of Finance (and administratively under the Ministry of Defence), appointed Kota Ravi as its new Chairman and Managing Director (CMD).
• The Indian Army (IA) signed an agreement with USA defence technology firm Shield AI for the procurement of V-BAT VTOL Unmanned Aircraft System (UAS) to be manufactured in India.
• Bengaluru-based defence manufacturer Alpha Design Technologies Limited (ADTL) completed a major upgrade of the Indian Air Force’s (IAF) Pechora surface-to-air missile (SAM) system, supporting India’s push to modernise ageing military platforms through indigenous capability.