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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Securities and Exchange Board of India Introduces Age-Based Investment Framework Through Life Cycle Funds

• The Securities and Exchange Board of India (SEBI) introduced Life Cycle Funds with regulated equity and debt exposure limits based on investor age and time to maturity.

Key Highlights :

• Life Cycle Funds are open-ended target-date funds that follow a glide path investment strategy, investing across multiple asset classes such as Equity, Debt, InvITs, ETCDs, Gold ETFs, and Silver ETFs.
• These funds promote goal-based investing and follow a systematic reduction in equity exposure as the fund approaches the maturity date, increasing debt allocation for stability.
• Mutual funds may launch Life Cycle Funds with a minimum tenure of 5 years and a maximum tenure of 30 years, with launch tenures allowed only in multiples of 5 years.
• A maximum of 6 Life Cycle Funds can remain open for subscription at any given point of time by a mutual fund house.
• Life Cycle Funds can be launched with target maturities such as 30 years, 25 years, 20 years, 15 years, 10 years, and 5 years.
• When a Life Cycle Fund has less than 1 year remaining to maturity, it may be merged with the nearest maturity fund, subject to unit holder consent.
• In long-term funds (example 30-year funds), equity allocation may range between 65%–95% during the 15–30 years remaining maturity period.
• As maturity approaches, equity exposure decreases gradually, while debt exposure increases to reduce market risk volatility.
• For funds with less than 5 years to maturity, equity arbitrage exposure up to 50% is allowed, but total equity exposure must remain within prescribed limits (65%–75%).
• When maturity is between 1–3 years, debt investments are restricted to AA and above rated instruments with residual maturity lower than scheme maturity.
• ETCD (Exchange Traded Commodity Derivatives) exposure is allowed only in Gold and Silver.
• To ensure financial discipline, Life Cycle Funds impose an exit load structure: 3% exit load within 1 year, 2% within 2 years, and 1% within 3 years of investment.
• These funds must include the target maturity year in their name, such as “Life Cycle Fund 2055”, for easy identification.
• Life Cycle Funds follow the benchmark framework of Multi Asset Allocation Funds for performance comparison.
• SEBI discontinued the solution-oriented fund category (such as retirement and children’s funds) and stopped fresh subscriptions immediately.
• The regulatory framework aims to standardize target-date investing, improve risk management, and promote transparent long-term wealth creation in the Indian mutual fund ecosystem.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Tuhin Kanta Pandey
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Securities and Exchange Board of India Introduces Major Reforms to Strengthen Transparency and Discipline in ₹81 Lakh Crore Mutual Fund Industry

• The Securities and Exchange Board of India (SEBI) introduced sweeping reforms in the ₹81 lakh crore Indian mutual fund industry to improve transparency, portfolio discipline, and investor protection.
• Solution-oriented schemes such as retirement funds and children’s funds will stop accepting fresh inflows and will be merged with similar schemes, affecting funds worth about ₹60,000 crore.
• SEBI introduced “true-to-label” investment norms to ensure mutual fund schemes invest strictly according to their stated investment objectives and reduce misleading fund categorization.
• Mutual funds are now allowed to invest up to 35% of assets in Gold, Silver, and InvITs (Infrastructure Investment Trusts) to improve portfolio diversification beyond traditional equity and debt assets.
• This new rule replaces the earlier system that used London Bullion Market Association (LBMA) price benchmarks adjusted for currency conversion, import duties, and premium costs.
• SEBI mandated minimum equity allocation norms for Multi-Cap Funds, requiring at least 25% investment each in large-cap, mid-cap, and small-cap stocks.
• Fund houses must maintain less than 50% portfolio overlap between sectoral/thematic funds and other equity schemes to prevent portfolio concentration risk and improve investment differentiation.
• These reforms aim to enhance mutual fund market efficiency, promote investor transparency, and strengthen risk management standards in the Indian asset management sector.

Ministry of Statistics and Programme Implementation Introduces New National Accounts Series with 2022–23 Base Year to Improve GDP Accuracy and Economic Measurement

• The Ministry of Statistics and Programme Implementation (MoSPI) introduced India’s New National Accounts Series (Base Year 2022–23) to improve accuracy of GDP and GVA estimation and reflect structural economic changes.
• The GDP base year has been updated from 2011–12 to 2022–23, providing a more realistic economic representation and better time-series comparability.
• The new GDP series uses activity-wise revenue share of companies to calculate Gross Value Added (GVA), improving sector-wise economic measurement.

Key Highlights :

• GST data, e-Vahan vehicle registration data, Annual Survey of Unincorporated Sector Enterprises (ASUSE), and Periodic Labour Force Survey (PLFS) data are now used for more accurate non-corporate sector estimation.
• The Advisory Committee on National Accounts Statistics (ACNAS), chaired by Biswanath Goldar, guided the revision through five specialised sub-committees.
• The new series estimates Real GDP growth for FY 2025–26 at 7.6%, while Nominal GDP growth is projected at 8.6%, with real GDP value estimated at ₹322.58 lakh crore and nominal GDP at ₹345.47 lakh crore.
• Quarterly GDP growth (Q3 FY26) is recorded at 7.8%, showing sustained economic momentum.
• The secondary sector is projected to grow at 9.5% in FY26, driven by manufacturing growth of 12.5% and construction growth of 6.9%.
• The primary sector growth is expected to slow to 2.8%, with agriculture growing at 2.5% and mining & quarrying at 5%.
• The tertiary (services) sector is expected to grow at 9%, with strong performance in trade, hotels, transport, communication, financial services, real estate, IT, and professional services.
• The new series shows downward revision in nominal GDP size, with FY26 nominal GDP estimated at ₹345.47 lakh crore, about 3.3% lower than previous estimates.
• FY24 and FY25 nominal GDP were also revised downward by about 3.8% each due to improved estimation methods.
• Since fiscal ratios depend on nominal GDP, a lower GDP base increases fiscal deficit-to-GDP and debt-to-GDP
• The fiscal deficit for FY26 is now estimated at 4.51% of GDP (earlier 4.36%), while debt-to-GDP ratio for FY27 is projected at 57.5% (earlier target 55.6%).
• The government’s debt consolidation target aims to reduce debt-to-GDP to 50% by FY2031, making fiscal management more challenging.
• The new series follows international best practices, shifting from single deflation to double deflation methodology for real economic growth calculation.
• Under double deflation, output prices and input prices are adjusted separately to eliminate inflation distortion effects in growth measurement.
• The new framework also integrates Supply and Use Tables (SUT) to reduce statistical discrepancies between production GDP and expenditure GDP estimates.
• The back series GDP data will be released by December 2026, allowing revision of historical economic growth data.
• Overall, the reforms aim to improve data reliability, enhance economic policy decision-making, and align India’s national accounts with global statistical standards.

Calculation of GDP:

• GDP = private consumption + gross investment + government investment + government spending + (exports-imports)

GVA Formula:

Relationship Between GDP and GVA

Ministry of Statistics and Programme Implementation:

• Minister (Independent Charge): Shri Rao Inderjit Singh
• Constituency: Gurgaon, Haryana

Cyprus-Based Ellinas Finance to Become First Overseas Firm to List on NSE International Exchange at GIFT City

• Ellinas Finance, a Cyprus-based financial services firm, will become the first overseas company to list equity shares on the NSE International Exchange (NSE IX) at GIFT City, Gujarat.
• This listing marks the first cross-border equity listing in GIFT IFSC, strengthening India’s goal of developing a global capital market hub.
• The company is already listed on the Cyprus Stock Exchange (CSE) and will now achieve a dual listing with NSE IX.
• Founded in 1992, Ellinas Finance provides lending services, private equity funding, investor services, and business financing to individuals and corporate clients.
• The Taiwan Stock Exchange has signed exploratory MoUs with NSE IX and India International Exchange to explore cross-border listings, especially for semiconductor-related companies with India operations.
• Afrinex (Mauritius) also signed an MoU with NSE IX to enable multi-currency and multi-asset listings targeting African and global investors.
• This initiative supports India’s ambition to become a global financial gateway, connecting Asia, Europe, and Africa through international financial services.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Sarbananda Sonowal Inaugurates Key Projects on National Waterway-2 in Assam

• Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal inaugurated three major infrastructure projects on Brahmaputra River under National Waterway 2 in Dibrugarh, Assam.
• The projects include the Bogibeel Customs and Immigration Complex, the Dhubri Customs and Immigration Complex, and the renovated IWAI Heritage Building.
• Describing the initiative as a model of “Vikas and Virasat”, Sonowal stated that the projects will strengthen inland water transport, enhance cross-border trade, and promote tourism in the Northeast under the leadership of Prime Minister Narendra Modi.

Key Highlights

• Projects inaugurated on National Waterway-2 (NW-2), a key economic corridor along the Brahmaputra.
• Bogibeel Customs and Immigration Complex developed as a tourist-cum-cargo terminal with customs, immigration and administrative facilities of the Inland Waterways Authority of India (IWAI).
• Bogibeel facility to facilitate trade under the Indo-Bangladesh Protocol Route and improve cargo handling capacity.
• Dhubri Customs and Immigration Complex to enhance export-import activities and strengthen connectivity with Bangladesh and Bhutan.
• Dhubri positioned as a strategic inland trade gateway for western Assam.
• Renovated IWAI Heritage Building in Dibrugarh blends heritage conservation with modern infrastructure needs.
• Initiative supports promotion of cost-effective inland waterways transport to reduce logistics costs.
• Under the National Waterways Act, 2016, 20 rivers in the Northeast have been declared National Waterways.
• NW-2 (Brahmaputra) is among the most significant waterways for regional economic development.

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

RECENT NEWS

• Union Home Minister Amit Shah laid the foundation stone of the 10th Battalion headquarters of the Assam Police in Kamrup. And asserted that strict action will continue against infiltration. Addressing a public gathering Amit Shah said Assam is set to become the industrial hub of eastern and North-Eastern India within the next five years

Soundala Village in Maharashtra Declares Itself ‘Caste-Free’ Through Gram Sabha Resolution

• Soundala village in Maharashtra, located about 350 km from Mumbai, has declared itself a “caste-free village” after passing a unanimous resolution in the gram sabha.
• The village is situated in Ahilyanagar district (formerly Ahmednagar).
• Led by Sarpanch Sharad Argade, the resolution aims to eliminate caste-based discrimination in everyday life while keeping caste references limited to official documentation.
• The declaration prohibits asking or publicising anyone’s caste and promotes equal access to public spaces such as temples, schools, crematoriums and water sources.
• The guiding motto adopted by the village is “My caste is humanity.”

Key Highlights

• Unanimous gram sabha resolution passed on 5 February 2026 declaring Soundala a caste-free village.
• Ban on inquiring about caste or using caste-based slurs; caste-based boycotts not tolerated.
• Equal access ensured to all public spaces and community facilities.
• Village has around 2,500 residents and 450 families, with a socially diverse population.
• Transformation driven by Sarpanch Sharad Argade and former sarpanch Priyanka Argade.
• Social reforms include ₹500 fine for abusive language, monitored through CCTV verification.
• ₹11,000 financial support for widow remarriage, with at least one remarriage facilitated.
• Provision of uniforms, books and stationery for girls up to Class 12.
• Introduction of a daily two-hour no-mobile study window for students.
• Resolution does not affect reservation policies, but seeks to remove caste bias from social behaviour.

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

Prime Minister Narendra Modi to Inaugurate India’s First Semiconductor ATMP Plant in Sanand

• Prime Minister Narendra Modi will inaugurate India’s first semiconductor ATMP (Assembly, Testing, Marking and Packaging) facility set up by Micron Technology at Sanand in Gujarat.
• The project represents a major step in strengthening India’s semiconductor value chain and enhancing its presence in global chip manufacturing.

Key Highlights

• Project involves an investment of ₹22,516 crore.
• First semiconductor ATMP plant in India focused on memory and storage products.
• Will assemble and test DRAM and NAND memory chips, and produce Solid State Drives (SSDs).
• Facility to process advanced wafers sourced from Micron’s global manufacturing units.
• Around 2,000 employees currently working, with expansion plans to generate 5,000 direct jobs.
• Supports increasing global demand for high-performance memory solutions, especially for AI applications.
• Strengthens India’s position in the global semiconductor supply chain diversification strategy.
• Sanand emerging as a key electronics and semiconductor manufacturing hub.
• Contributes to India’s objective of boosting exports, promoting skilled employment, and advancing digital economy growth.

RECENT NEWS

• In Gandhinagar, Gujarat Chief Minister Bhupendra Patel released the Gujarati biography “Vishwaguru Srila Prabhupada”, based on the inspiring life of A. C. Bhaktivedanta Swami Prabhupada, the Founder-Acharya of International Society for Krishna Consciousness. 

About Gujarat:

• Chief Minister: Bhupendra Patel
• Governor: Acharya Devvrat
• Capital: Gandhinagar
• National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
• Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary

Raksha Rajya Mantri Inaugurates Restored Chungthang–Lachen Axis and Taram Chu Bridge in Sikkim

• Raksha Rajya Mantri Sanjay Seth inaugurated the restored Chungthang–Lachen Axis and the 400-ft Bailey Suspension Taram Chu Bridge in North Sikkim.
• The critical infrastructure was rebuilt by the Border Roads Organisation (BRO) after severe damage caused by successive natural disasters, including the Glacial Lake Outburst Flood (2023), Cyclone Remal (2024), and cloudbursts in 2025.

Key Highlights

• 28-km Chungthang–Lachen Axis fully restored to improve connectivity in North Sikkim.
• Restoration carried out under Project Swastik of BRO.
• 96 landslides cleared and 8 km of fresh formation cutting completed.
• Multiple diversions created to bypass vulnerable and sinking stretches.
• 400-ft Bailey Suspension Taram Chu Bridge constructed to replace flood-damaged infrastructure.
• Bridge ensures all-weather connectivity to Lachen and nearby strategic locations.
• Part of BRO’s large-scale post-disaster recovery operations, including construction of four major bridges and repair of two others.
• Infrastructure development aligns with the ‘Atmanirbhar Sikkim – Viksit Bharat Vision’ of Prem Singh Tamang.
• Projects expected to boost tourism, strengthen defence logistics, and support local economic activities.
• BRO, established in 1960 under the Ministry of Defence, plays a key role in infrastructure development in border states like Sikkim.

About Sikkim:

• Chief Minister: Prem Singh Tamang
• Governor: Om Prakash Mathur
• Capital: Gangtok
• National Parks: Khangchendzonga National Park
• Wildlife Sanctuaries: Fambong Lho Wildlife Sanctuary, Kyongnosla Alpine Sanctuary, Maenam Wildlife Sanctuary

RECENT NEWS

• In a moment of pride for the northeastern region, the Sikkim Police has been conferred with the President’s Police Colour Award for its outstanding service, professionalism, and dedication to duty. The honour, regarded as one of the highest distinctions for police forces in India, recognises sustained excellence and commitment to public service.

Indian Railways Launches Rail Tech Policy 2026, Rail Tech Portal and e-RCT

• The Indian Railways has launched the Rail Tech Policy 2026, Rail Tech Portal, and e-Railway Claims Tribunal (e-RCT) in New Delhi.
• The announcement was made by Union Minister for Railways Ashwini Vaishnaw as part of the “52 Reforms in 52 Weeks” initiative aimed at accelerating technology adoption, enhancing safety, and promoting digital governance in railway operations.

Key Highlights

• Rail Tech Policy 2026 launched to promote large-scale adoption of advanced technologies.
• Policy encourages collaboration with startups, industry, and academic institutions.
• Focus on AI-based safety systems, including elephant intrusion detection, fire detection in coaches, drone-based rail monitoring, and fog obstruction detection.
• Rail Tech Portal introduced as a digital platform for submission and evaluation of innovative proposals.
• Portal to ensure transparent approval process and faster pilot implementation.
• e-Railway Claims Tribunal (e-RCT) launched to digitize claim settlement processes.
• Online filing, case tracking, and faster adjudication to improve transparency.
• Plan to digitize 23 benches of the Railway Claims Tribunal within 12 months.
• Initiative forms part of Indian Railways’ broader technology-driven modernization agenda.

RECENT NEWS

• Indian Railways has achieved an important milestone by launching the country’s first LNG–Diesel dual-fuel DEMU train. The train has been operationalised at **Sabarmati in Ahmedabad, marking a big move towards sustainable and environment-friendly rail operations.

Rajasthan Renames Mount Abu as Aburaj; Kaman and Jahazpur Also Renamed

• The Rajasthan Government has approved the renaming of three towns in the state as part of its cultural heritage initiative.
• The announcement was made by Chief Minister Bhajanlal Sharma in the Rajasthan Assembly.
• Under the decision, Mount Abu will now be officially called Aburaj, Kaman as Kamvan, and Jahazpur as Yagyapur.
• The government stated that the changes aim to reflect traditional nomenclature rooted in history and regional identity, and necessary updates will be implemented in administrative usage.

Key Highlights

• Decision approved and announced in the Rajasthan Assembly.
• Renaming intended to reconnect modern administrative names with historical references.
• Departments instructed to implement the changes in official communication and records.
• Mount Abu (Aburaj) is located in the Aravalli Range and serves as Rajasthan’s only hill station.
• The town houses the renowned Dilwara Temples, an important Jain pilgrimage site.
• The initiative reflects the state’s emphasis on preserving regional heritage and traditional identity.

RECENT NEWS

• The Rajasthan Government has presented the State Budget 2026–27 in the Legislative Assembly, outlining a roadmap focused on fiscal consolidation, capital expenditure growth, agricultural strengthening, infrastructure expansion, and social welfare initiatives. 
  
  

About Rajasthan:

• Capital: Jaipur
• Governor: Haribhau Bagade
• Chief Minister: Bajan Lal Sharma
• National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
• Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

World Economic Forum Chief Børge Brende Steps Down; Alois Zwinggi Named Interim President & Chief Executive Officer

• Børge Brende, President and Chief Executive Officer (CEO) of the World Economic Forum (WEF), officially announced his resignation.
• Alois Zwinggi has been appointed as the Interim President and CEO of the WEF following Brende’s resignation.
• Børge Brende is a Norwegian politician and diplomat, widely recognized for his expertise in international relations, diplomacy, and multilateral economic and social policy.
• Before joining the WEF, he served as Minister of Foreign Affairs of Norway (2013–2017).
• He also held the positions of Minister of Trade and Industry (2004–2005) and Minister of the Environment (2001–2004) in the Norwegian government.
• He was appointed as the President and CEO of the World Economic Forum in 2017, leading the organization for several years before stepping down.

About World Economic Forum :

• Formation : 24 January 1971
• Headquarters : Cologny, Switzerland

Most Decorated Gymnast Simone Biles Named Laureus Ambassador

• Simone Biles, a seven-time Olympic gold medallist and the most decorated gymnast in history, has been appointed as a Laureus Ambassador.
• She joins a global group of sporting icons associated with the Laureus Sport for Good Foundation movement, alongside athletes such as Neeraj Chopra and Yuvraj Singh.
• The Laureus Sport for Good Programme supports over 300 global projects, using sports as a tool to fight violence, discrimination, and social inequality while promoting social inclusion.
• The Laureus World Sports Awards, established in 1999, honours outstanding sporting achievements of athletes and teams worldwide.
• Biles is a four-time winner of the Laureus Sportswoman of the Year Award, highlighting her consistent global sporting excellence.
• She officially started her Ambassador role during a visit to Milan, where she visited Polisportiva Garegnano, a Laureus-supported sports project.
• The Laureus-supported project provides safe and inclusive sports opportunities for children and young people, especially girls, to help build confidence, resilience, and life skills through sports-based development programmes.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Reserve Bank of India Grants Approval to SBI Mutual Fund to Buy Up to 9.99% Stake in RBL Bank and Bandhan Bank

• The Reserve Bank of India (RBI) approved SBI Mutual Fund, a subsidiary of State Bank of India, to acquire up to 9.99% of the paid-up share capital or voting rights in RBL Bank.
• The RBI also approved SBI Mutual Fund to acquire up to 9.99% stake, including equity share capital and voting rights, in Bandhan Bank.
• SBI Mutual Fund has been granted one year from the date of RBI approval to complete the proposed acquisition up to the 9.99% limit.
• The fund must ensure that its aggregate holding does not exceed 9.99% at any time in the concerned banks.
• If the aggregate holding falls below 5%, SBI Mutual Fund will require fresh prior RBI approval to increase its stake back to 5% or more, ensuring due diligence, financial stability, and transparent ownership structure in banks.
• As of 20 February 2026, SBI Mutual Fund held approximately 1.88% stake in RBL Bank.
• As of 2025, SBI Mutual Fund held around 2% stake in Bandhan Bank.
• The approval was granted pursuant to an application submitted by SBI Mutual Fund to the RBI.
• The approval is subject to compliance with the Banking Regulation Act, 1949, the RBI (Commercial Banks Acquisition and Holding of Shares or Voting Rights) Directions, 2025, the Foreign Exchange Management Act (FEMA), 1999, and regulations issued by the Securities and Exchange Board of India (SEBI).
• The decision ensures adherence to statutory guidelines, promotes regulatory oversight, and safeguards financial system stability in the banking sector.

About RBL Bank :

• Founded : August 1943
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : R Subramaniakumar

Facebook Overseas Acquires 30% Stake in Reliance Enterprise Intelligence Limited

• Facebook Overseas, a wholly owned subsidiary of Meta Platforms Inc., acquired a 30% equity stake (25.65 crore shares) in Reliance Enterprise Intelligence Limited (REIL).
• REIL is a wholly owned subsidiary of Reliance Intelligence Limited, which is part of the Reliance Intelligence Group.
• The transaction was valued at approximately Rs. 256.6 crore, at an average price of Rs. 10 per share.
• REIL issued a total of 85.32 crore equity shares, out of which 59.66 crore shares worth Rs. 596.6 crore were allotted to Reliance Industries Limited (RIL).
• Following the transaction, Reliance Intelligence holds 70% stake, while Facebook Overseas holds 30% equity in REIL.
• The acquisition was disclosed through a stock exchange filing under the Listing Regulations of the Securities and Exchange Board of India (SEBI).
• REIL was incorporated to focus on enterprise Artificial Intelligence (AI) solutions and strengthen digital intelligence capabilities.
• The objectives of REIL include developing AI-based platforms and tools, providing AI services to enterprises and government institutions, creating scalable digital intelligence infrastructure, and supporting India’s growing AI ecosystem.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Union Minister of State Dr. Jitendra Singh Launches India’s First State Innovation Mission in Tripura

• Union Minister of State (Independent Charge) Dr. Jitendra Singh of the Ministry of Science and Technology launched India’s 1st State Innovation Mission (SIM) at the Hapania International Exhibition Center, Agartala, Tripura.
• During the event, he described the Northeast region as the ‘New Engine’ of India’s economic and innovation growth.
• The State Innovation Mission (SIM) is part of the Atal Innovation Mission (AIM) 2.0 programme under NITI Aayog’s State Support Mission (SSM).
• The SIM is designed as a long-term institutional framework to support States and Union Territories (UTs) in developing inclusive, robust, and region-specific innovation ecosystems aligned with national priorities and local capabilities.
• The mission aims to promote startup growth, technology innovation, and knowledge-based economic development across states.
• During the same event, Tripura Chief Minister Dr. Manik Saha launched ‘T-NEST (Tripura: Nurturing Entrepreneurship and Startups)’, which is Tripura’s 1st premier incubation and innovation hub.
• The T-NEST initiative focuses on supporting entrepreneurs, startups, and innovation-based businesses in the state.
• The government also launched one of India’s 1st District Innovator Fellowships (DIF) to identify and support grassroots innovators with structured lifecycle mentoring and support systems.
• The District Innovator Fellowship aims to promote local innovation, technology adoption, and rural entrepreneurship development.
• The state also announced plans to soon introduce a State Artificial Intelligence (AI) Policy to promote AI-based development, digital transformation, and technology governance.

CURRENT AFFAIRS : APPS & PORTALS

Delhi Chief Minister Rekha Gupta Unveils ‘CM Jan Sunwai Portal’ and Mobile App to Boost Tech-Driven Grievance Redressal and Citizen Engagement

• Delhi Chief Minister Rekha Gupta launched the ‘CM Jan Sunwai Portal’ and mobile application to strengthen public grievance redressal and enhance citizen engagement through a technology-driven framework.
• The initiative was unveiled as part of the Information and Technology Department’s digital governance push to improve transparency, accountability, and efficient service delivery.

Key Highlights :

• The CM Jan Sunwai Portal is a centralized and unified grievance platform covering all government departments to ensure faster resolution, transparent tracking, and reduced physical visits to government offices.
• The portal digitizes public hearings (Jan Sunwai) and maps complaints, jurisdictions, and departmental officers in advance to fix clear accountability.
• Citizens can submit complaints through four channels: online portal, mobile app, call centre (Helpline 1902), and offline submission at the Chief Minister’s Office.
• Every complaint is assigned a unique reference ID (Identity Document ID) to enable status tracking and proper monitoring.
• Complainants receive SMS updates at every stage, ensuring real-time communication and transparency in grievance handling.
• The system allows citizens to send reminders, link previous complaints, and provide feedback on resolution.
• Negative feedback on complaint resolution automatically triggers escalation to higher authorities, ensuring time-bound action.
• A structured three-tier grievance redressal mechanism has been introduced, comprising a Grievance Redressal Officer, an Appellate Authority, and a Final Appellate Authority.
• The grievance system follows a feedback-driven monitoring model to ensure field-level accountability, while physical Jan Sunwai sessions will continue alongside the digital platform.
• The government replaced outdated software for EWS (Economically Weaker Sections), DG (Disadvantaged Groups), and CWSN (Children with Special Needs) school admissions with a secure, cloud-based system.
• The new admission system mandates Aadhaar-based identity verification and digital verification of birth certificates to enhance authenticity.
• Income certificates will now be verified through an integrated online system to prevent duplication and fraud.
• The upgraded e-District services have been integrated with over 7,000 Common Service Centre (CSC) outlets across Delhi for wider accessibility.
• A total of 75 services, including income, caste, residence, birth and death certificates, and social welfare benefits, are now linked to the portal.
• The ‘CM Pragati’ platform has created a comprehensive digital record of government land and buildings to improve asset management, transparency, and overall governance efficiency.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Army Retains Khelo India Winter Games 2026 Team Championship Title with 23 Medals

• The Indian Army successfully defended its team championship title at the Khelo India Winter Games 2026, winning a total of 23 medals, including 9 gold medals (with 8 golds won in the Gulmarg leg).
• Himachal Pradesh finished as runners-up, winning 14 total medals including 6 gold, 7 silver, and 1 bronze, while Haryana secured third place with 7 total medals including 4 gold, 1 silver, and 2 bronze.
• The Khelo India Winter Games 2026 were hosted by the Jammu & Kashmir Sports Council and managed by the Sports Authority of India, promoting winter sports development in India.
• The official mascot of KIWG 2026 was Sheen-E-She (Snow Leopard), symbolizing resilience, agility, and adaptability in harsh mountain environments.
• The first leg of KIWG 2026 was held in Ladakh (January 20–26), showcasing India’s focus on winter sports promotion in high-altitude regions.
• In Nordic skiing events, the Indian Army dominated, especially in the 15 km Nordic race, where Mohammad Ali won gold (34:21.49 sec), followed by Padma Namgail (silver) and Sunny Singh (bronze), forming an Army 1-2-3 finish.
• In snowboarding and alpine skiing events, Jammu and Kashmir athletes performed well, with Zubaid Ahmad Lone winning gold in men’s giant slalom, defeating Army skier Vivek Rana.
• Veteran skier Bhavani Thekkada Nanjunda of Karnataka won the Nordic women’s 1.5 km sprint, continuing her record of participation in all six editions of KIWG and previously winning three gold medals in KIWG 2025.

CURRENT AFFAIRS: SPORTS NEWS

Mumbai Cricket Association to Name Wankhede Stadium Stand After Ravi Shastri; Gates to Honour Cricket Legends

• The Mumbai Cricket Association (MCA) has approved naming a stand at the Wankhede Stadium after former India captain Ravi Shastri.
• The decision was taken during the MCA Apex Council meeting held.
• Shastri was honoured with the prestigious Col CK Nayudu Lifetime Achievement Award at the BCCI Awards 2024 in Hyderabad.
• The Level 1 Stand below the Press Box will be named in honour of Ravi Shastri, recognising his contribution as an all-rounder, former India captain, head coach, and commentator.
• The move celebrates his long-standing association with Mumbai and Indian cricket.

Key Highlights

• Level 1 Stand at Wankhede Stadium to be named after Ravi Shastri.
• Decision approved during the MCA Apex Council meeting.
• Gate No. 3 to be named after Dilip Sardesai, who played 30 Tests and 179 First-Class matches.
• Gate No. 5 to honour Diana Edulji, former India women’s team captain.
• Gate No. 6 to be named after Eknath Solkar, known for his exceptional close-in fielding.
• Ravi Shastri was part of the 1983 World Cup-winning era and later coached India to major overseas Test victories.
• Wankhede Stadium, established in 1974, hosted the 2011 ICC Cricket World Cup Final, where India lifted the trophy.
• The initiative reinforces Mumbai’s rich cricketing legacy and honours stalwarts who shaped Indian cricket history.

About Mumbai Cricket Association:

• Headquarters: Wankhede Stadium, Churchgate, Mumbai
• President: Ajinkya Naik

Jammu & Kashmir Win Ranji Trophy 2025–26 in Maiden Final Appearance

• Jammu and Kashmir scripted history by winning the Ranji Trophy 2025–26 title in their first-ever final appearance.
• The final was played at the KSCA Cricket Stadium, where J&K defeated the Karnataka cricket team by securing a massive 291-run first-innings lead.
• Led by captain Paras Dogra, the team posted 584 runs in the first innings, while Karnataka were bowled out for 293 runs.
• The historic moment was witnessed by Jammu and Kashmir Chief Minister Omar Abdullah from the stands.
• With this victory, J&K became only the 10th team in 92 years to lift the Ranji Trophy in their maiden final.

Key Highlights

• Jammu & Kashmir won the Ranji Trophy 2025–26 in their debut final.
• Secured a 291-run first-innings lead against Karnataka.
• Shubham Pundir scored a crucial century in the first innings.
• Aquib Nabi Dar claimed a match-winning five-wicket haul.
• Karnataka’s resistance was led by Mayank Agarwal.
• J&K took 67 years (since 1959–60) to win their maiden title.
• Last team to achieve this feat before J&K was Vidarbha cricket team (2017–18).
• The Ranji Trophy, started in 1934–35, is India’s premier domestic cricket championship named after Ranjitsinhji.

CURRENT AFFAIRS : OBITUARIES

Veteran Communist Party of India Leader R. Nallakannu Passed away at 101 in Chennai

• R. Nallakannu, a veteran leader of the Communist Party of India (CPI), passed away at the age of 101 in Chennai, Tamil Nadu.

About R. Nallakannu :

• He was born on 26 December 1925 at Srivaikuntam (now in Thoothukudi district), Tamil Nadu.
• He was regarded as one of India’s most respected communist leaders and a veteran of the freedom struggle.
• He was widely known for his integrity, simplicity, and lifelong commitment to farmers and workers.
• He served as a senior leader of the CPI and played a significant role in strengthening the communist movement in Tamil Nadu.
• During his political career, he was imprisoned multiple times for participating in protests and political agitations.
• He served as the CPI Tamil Nadu State Secretary for several years and guided the party’s activities across the state.
• He strongly advocated for farmers’ rights, including land reforms, fair pricing, and irrigation facilities.
• He actively raised awareness on river water disputes, especially concerning the Cauvery River and the Thamirabarani River.
• He sought judicial interventions against river exploitation and illegal sand mining, promoting environmental conservation.
• He consistently supported marginalized communities, workers’ welfare, and grassroots democratic movements, leaving a lasting legacy of social justice and activism.

Renowned Sociologist T.K. Oommen, Jawaharlal Nehru University Professor Emeritus, Passed Away at 88

• T.K.Oommen, a renowned Indian sociologist and Professor Emeritus at Jawaharlal Nehru University (JNU), passed away at the age of 88 in Gurugram, marking a major loss to Indian social sciences.

About T.K. Oommen :

• Born on 16 October 1937 in Venmony, Alappuzha, Kerala.
• He was considered a leading architect of modern Indian sociology, known for research on social justice, identity, pluralism, citizenship, state power, and nation-building.
• He served as President of the International Sociological Association (ISA) in 1990, becoming the only Indian sociologist to hold this position.
• He also served as President of the Indian Sociological Society and was a member of the Sachar Committee, which studied the socio-economic and educational conditions of Indian Muslims.
• He received major honours including the Padma Bhushan (2008), ICSSR Award (1981), and VKRV Rao Prize in Sociology and Social Anthropology.
• His research made major contributions to Indian sociological theory, especially by indigenising sociology instead of relying solely on Western theoretical frameworks.
• He joined University of Delhi in 1964 and later joined JNU in 1971, where he helped build the Centre for the Study of Social Systems into a leading sociology research centre.
• His major theoretical contribution was the reinterpretation of Max Weber’s concept of charismatic authority, showing that charismatic leadership can also stabilise social systems, not only disrupt them.
• He analysed alienation as a structural social reality, arguing that groups like Dalits, Adivasis, and Muslims experience institutionalised exclusion even within democratic systems.
• He worked on peace-building and social harmony, serving as chairman of the Gujarat Harmony Project after the 2002 Gujarat communal violence.
• He was associated with international institutions including UNESCO and Ford Foundation.
• He authored 22 books and numerous research papers, contributing significantly to global sociology scholarship.
• He also served as Visiting Professor in universities across Sweden, USA, France, Germany, and Australia, promoting Indian sociological thought

CURRENT AFFAIRS: IMPORTANT DAYS

Zero Discrimination Day is celebrated on March 1

• Zero Discrimination Day 2026 is observed on the 1st of March.
• Zero Discrimination Day aims to promote inclusion, compassion, and peace and it is a movement for change.
• Zero Discrimination Day was first celebrated and observed on March 1st, 2014.
• Zero Discrimination Day was launched by UNAIDS.
• The executive director of UNAIDS Michel Sidibe started it on 23rd December of 2013 with the major event in Beijing.
• This day is noted by the organizations that combat discrimination against people living with HIV/AIDS.
• UNAIDS is the organization that conducts programs on HIV/AIDS awareness and discrimination against people living with HIV/AIDS.
• The main motive to establish this day was to work with discrimination against the people who were affected by HIV/AIDS and also bring equality among the person all over the world in every prospect because we have equal rights.

World Civil Defence Day is observed on the 1st of March

• World Civil Defence Day 2026 is celebrated on March 1st. It is celebrated annually on March 1st every year all over the world.
• World Civil Defence Day 2026 is a day to celebrate the importance of civil defense and it is time to commemorate the people who have sacrificed their lives for it.
• In 1958, the International Association of Geneva Zones became the International Civil Defense Organization (ICDO) and was given a new status as a non-governmental organization with objectives such as establishing a liaison between national civil defense organizations, undertaking and promoting studies and research on population protection matters, and facilitating the exchange of experience and the coordination of efforts in the area of disaster prevention, preparedness, and intervention.
• In 1972 the representatives of ICDO member states approved the current text of the organization’s constitution, which entered into force on 1 March 1972.
• It attributes the status of the intergovernmental organizations to the ICDO.
• March 1 was established as World Civil Defense Day.

Self-Injury Awareness Day 2026 is observed on the 1st of March

• Self-Injury Awareness Day is celebrated on March 1st, 2026. The Self-Injury Awareness Day (SIAD) is a global event that is conducted every year on March 1st.
• It has been celebrated for more than 20 years on this day every year.
• It is about raising awareness about self-injury among the people.
• The history and origin of Self Injury Awareness Day are not known properly, but the day has been celebrated for more than 20 years on 1st March.
• In the late 19th century, two American doctors noticed that women around Europe were harming themselves in self-torture.
• Later in 1959, the Mental Health Organization passed the Mental Health Act to remove the barriers against the treatment of mental illness in hospitals.
• In 1979, people were categorized into nine groups based on the form of self-harm.
• It is noted that teens are the highest statistic for self-harm. A study shows that 15% of teens and 17-35% of students engage in self-injury.

Daily CA One- Liner: March 1 & 2

• Union Minister of Ports, Shipping and Waterways Sarbananda Sonowal inaugurated three major infrastructure projects on the Brahmaputra River under National Waterway 2 in Dibrugarh, Assam
• Soundala village in Maharashtra, located about 350 km from Mumbai, has declared itself a “caste-free village” after passing a unanimous resolution in the gram sabha
• Prime Minister Narendra Modi will inaugurate India’s first semiconductor ATMP (Assembly, Testing, Marking and Packaging) facility set up by Micron Technology at Sanand in Gujarat
• Raksha Rajya Mantri Sanjay Seth inaugurated the restored Chungthang–Lachen Axis and the 400-ft Bailey Suspension Taram Chu Bridge in North Sikkim
• The Indian Railways has launched the Rail Tech Policy 2026, Rail Tech Portal, and e-Railway Claims Tribunal (e-RCT) in New Delhi
• The Rajasthan Government has approved the renaming of three towns in the state as part of its cultural heritage initiative
• The Mumbai Cricket Association (MCA) has approved naming a stand at the Wankhede Stadium after former India captain Ravi Shastri
• Jammu and Kashmir scripted history by winning the Ranji Trophy 2025–26 title in their first-ever final appearance.
• The Securities and Exchange Board of India (SEBI) introduced Life Cycle Funds with regulated equity and debt exposure limits based on investor age and time to maturity.
• The Securities and Exchange Board of India (SEBI) introduced sweeping reforms in the ₹81 lakh crore Indian mutual fund industry to improve transparency, portfolio discipline, and investor protection.
• The Ministry of Statistics and Programme Implementation (MoSPI) introduced India’s New National Accounts Series (Base Year 2022–23) to improve accuracy of GDP and GVA estimation and reflect structural economic changes.
• Ellinas Finance, a Cyprus-based financial services firm, will become the first overseas company to list equity shares on the NSE International Exchange (NSE IX) at GIFT City, Gujarat.
• Børge Brende, President and Chief Executive Officer (CEO) of the World Economic Forum (WEF), officially announced his resignation.
• Simone Biles, a seven-time Olympic gold medallist and the most decorated gymnast in history, has been appointed as a Laureus Ambassador.
• The Reserve Bank of India (RBI) approved SBI Mutual Fund, a subsidiary of State Bank of India, to acquire up to 99% of the paid-up share capital or voting rights in RBL Bank.
• Facebook Overseas, a wholly owned subsidiary of Meta Platforms Inc., acquired a 30% equity stake (65 crore shares) in Reliance Enterprise Intelligence Limited (REIL).
• Union Minister of State (Independent Charge) Dr. Jitendra Singh of the Ministry of Science and Technology launched India’s 1st State Innovation Mission (SIM) at the Hapania International Exhibition Center, Agartala, Tripura.
• Delhi Chief Minister Rekha Gupta launched the ‘CM Jan Sunwai Portal’ and mobile application to strengthen public grievance redressal and enhance citizen engagement through a technology-driven framework.
• The Indian Army successfully defended its team championship title at the Khelo India Winter Games 2026, winning a total of 23 medals, including 9 gold medals (with 8 golds won in the Gulmarg leg).
• R. Nallakannu, a veteran leader of the Communist Party of India (CPI), passed away at the age of 101 in Chennai, Tamil Nadu.
• T.K.Oommen, a renowned Indian sociologist and Professor Emeritus at Jawaharlal Nehru University (JNU), passed away at the age of 88 in Gurugram, marking a major loss to Indian social sciences.
• Zero Discrimination Day 2026 is observed on the 1st of March.
• World Civil Defence Day 2026 is celebrated on March 1st. It is celebrated annually on March 1st every year all over the world
• Self-Injury Awareness Day is celebrated on March 1st, 2026. The Self-Injury Awareness Day (SIAD) is a global event that is conducted every year on March 1st