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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Sri Lanka’s First Blue Bond Secures Dual Listing on NSE International Exchange at GIFT City

• Sri Lanka’s first-ever Blue Bond, an LKR 3 billion issuance by DFCC Bank Plc, has been dually listed on the NSE International Exchange (NSE IX) at Gujarat International Finance Tec-City (GIFT City).
• This marks the first Blue Bond admitted for trading within India’s International Financial Services Centre (IFSC)

Key Highlights :

• The bond is primarily listed on the Colombo Stock Exchange (CSE), and its dual listing enhances international investor access and visibility.
• The dual listing was facilitated under a Memorandum of Understanding (MoU) signed between NSE IX and CSE at GIFT City to promote cross-border capital market collaboration.
• Objective: To enable dual listings, strengthen cross-border financial integration, and promote innovative sustainable finance instruments.
• Blue Bonds are a subset of Green Bonds, specifically designed to finance marine conservation, sustainable fisheries, ocean-based economic development, clean drinking water supply, and aquatic pollution control projects.
• The issuance aims to support the sustainable use of marine resources while offering attractive returns to investors.
• The listing strengthens GIFT City’s position as a global hub for sustainable finance and offshore capital market activities.
• The bond allows participation through GIFT City’s offshore regulatory framework, helping diversify the investor base.
• Earlier, in June 2025, NSE IX hosted DFCC Bank’s leadership for the listing of its LKR 2.5 billion foreign-currency Green Bonds, Sri Lanka’s first renewable energy-focused capital market debt instrument admitted for trading on the exchange.

West Bengal Approves ₹4,648 Crore Asian Development Bank Funded Projects to Upgrade Education and ICDS Infrastructure

• The Mamata Banerjee-led West Bengal Government Cabinet approved two major development projects worth ₹4,648 crore in partnership with the Asian Development Bank (ADB).
• The projects aim to strengthen secondary education infrastructure and improve child nutrition and early childhood development services in West Bengal.
• The funding pattern follows a 70:30 model, where ADB will finance 70% of the cost and the West Bengal Government will provide 30%.
• The initiative will introduce smart classrooms using digital screens, interactive teaching tools, and technology-enabled learning systems to replace traditional blackboard-based teaching.
• Smart classrooms will be implemented in districts including South 24 Parganas, North 24 Parganas, Hooghly, Howrah, Paschim Bardhaman, Paschim Medinipur, Purba Medinipur, Purulia, Bankura, Jhargram, and Birbhum.
• Around 430 state-aided schools will be modernised, including one school per block and two schools from each of the 87 backward blocks of the state.
• Infrastructure upgrades will include modern laboratories, digital libraries, sanitation improvements, modern toilets, ramp accessibility for specially-abled students, and upgraded mid-day meal kitchens.
• The government will introduce bilingual education, promoting English-medium instruction along with Bengali language teaching.
• The project will also promote skill development and vocational training programmes to improve student employability and career readiness.
• Nearly 50,000 ICDS (Integrated Child Development Services) centres will be upgraded under a ₹2,148 crore ADB-supported project.

Sarvam Ties Up with SBI Life to Roll Out AI Solutions Across Insurance Distribution Network

• Indian AI startup Sarvam has entered into a strategic partnership with SBI Life Insurance Company Limited, a subsidiary of the State Bank of India (SBI).
• The partnership focuses on the large-scale deployment of Artificial Intelligence (AI) tools across SBI Life’s nationwide insurance distribution network.
• Aim: To enhance customer engagement, improve sales support functions, and move beyond limited AI pilot projects to enterprise-wide implementation.
• Sarvam’s AI tools will operate on two key platforms:

1. Samvaad – a conversational AI platform for managing customer-facing interactions.
2. Arya – a multi-agent orchestration layer that coordinates multiple AI systems to execute tasks and workflows using enterprise data.

• Samvaad will handle customer conversations, queries, and communication processes.
• Arya will function in the backend, integrating various AI agents to manage automated workflows and data-driven operations.
• The AI deployment is expected to benefit over 8 crore customers and support more than 3.5 lakh insurance distributors across India.

IIFL Home Finance Secures USD 300 Million Asian Development Bank Loan to Boost Affordable Housing Finance in India

• IIFL Home Finance Limited secured a USD 300 million loan agreement from the Asian Development Bank (ADB) to expand affordable housing finance access in India.
• The financing package represents IIFL Home Finance’s first syndicated External Commercial Borrowing (ECB) aimed at addressing India’s housing deficit crisis and supporting low-income borrowers, especially women borrowers.
• The total loan amount consists of USD 150 million directly from ADB and USD 150 million through parallel loans from global banks including:
• Mitsubishi UFJ Financial Group (MUFG), Japan
• Emirates NBD Bank, UAE
• Sampath Bank PLC
• Hatton National Bank PLC
• The funds will be used to provide mortgage loans to women in low-income communities, particularly in urban, peri-urban, and economically backward states of India.
• India faces an estimated housing shortage of 31 million units by 2030, which mainly affects low-income households lacking formal income documentation for traditional housing loans.
• At least 25% of the loan proceeds will be used to finance green-certified affordable housing projects, promoting sustainable construction practices.
• The loan agreement supports financial inclusion, sustainable housing development, and women empowerment in housing finance access.
• The Asian Development Bank acted as the Mandated Lead Arranger and Bookrunner for this financing package.
• The initiative strengthens India’s efforts to promote affordable housing development and climate-friendly construction financing in the housing sector.
• Managing Director and CEO of IIFL Home Finance, Girish Kousgi

Recent News :

• In Jan 2026, Piramal Finance Raises USD 350 Million in Multilateral Funding from International Finance Corporation and Asian Development Bank

Gnani.ai Partners with Razorpay to Launch Agentic AI-Powered Payment Collections Platform

• Indian AI firm Gnani.ai partnered with fintech company Razorpay to launch an Agentic Artificial Intelligence (AI)-powered collections platform.
• The new platform enables real-time completion of Unified Payments Interface (UPI) payments during live customer calls, improving digital payment efficiency.
• The system integrates ai’s agentic AI technology directly with Razorpay’s Model Context Protocol (MCP) server, an AI-native layer linked to Razorpay’s payment infrastructure.
• The platform can assess customer payment intent, generate a payment link or UPI collect request, and track and confirm payment status within the same call.
• It supports both one-time UPI payments and mandate-based recurring UPI payments, enhancing automated collection mechanisms.
• Future upgrades will include support for card payments and digital wallets, expanding multi-channel payment options.
• The system supports multiple Indian languages, promoting regional inclusivity in digital financial services.
• The platform ensures secure, compliant, and AI-driven transaction processing, aligning with India’s digital payment ecosystem

Central Bank of India Partners with Canara Robeco Asset Management Company to Distribute Mutual Fund Products

• Central Bank of India (CBI) signed a Distribution Agreement with Canara Robeco Asset Management Company Limited (CRAMC) to offer a wide range of Mutual Fund (MF) products to its customers.
• The partnership aims to enhance wealth creation opportunities for retail and institutional investors across the bank’s branch banking and digital platforms.
• Through this agreement, CBI will distribute MF schemes managed by Canara Robeco AMC, allowing customers to invest in diversified equity, debt, and hybrid mutual fund products.
• The agreement ensures regulatory compliance and transparency as per Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015.
• The collaboration strengthens financial inclusion, retail investment penetration, and digital wealth management services through the banking network.

About CRAMC :

• CRAMC was established in 1987 as a Joint Venture (JV) between Canara Bank and ORIX Corporation Europe.
• CRAMC is one of India’s leading asset management companies, with Assets Under Management (AUM) of approximately ₹1.22 lakh crore (December 2025).

About Central Bank of India :

• Established : 21 December 1911
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Kalyan Kumar
• Owner : Ministry of Finance, Government of India (89.27%)

Jio Financial Services Subsidiary Launches ‘Finsider’ Financial App for Early Access Users

• Jio Financial Services Limited (JFSL) subsidiary Jio Finance Platform and Service Limited (JFPSL) launched the ‘Finsider’ financial app for early access users.
• The app is powered by Agentic Artificial Intelligence (AI) and Neural Networks to provide hyper-personalized, real-time, and always-on financial services to users.
• The platform acts as a financial marketplace aggregator, offering products from JFSL group entities and third-party financial institutions.
• The Finsider app provides personalized financial recommendations based on user financial profiles, behaviour, and financial intent using agent-based AI models.
• The app features a dynamic user interface, meaning no two users will see the same homepage, as content is customized based on eligibility and financial requirements.
• The platform offers a wide range of financial services, including loans, credit cards, insurance products, UPI payments, fixed deposits, digital gold, investment advisory, tax planning, and mutual funds.
• The app also provides access to digital savings accounts with automated liquidity management to help users earn higher investment returns.
• Users participating in the early access programme can transact, test features, and provide feedback to improve platform performance.
• Users can earn “JioPoints” rewards for transactions and app usage, which can be redeemed for benefits and services.
• The launch strengthens India’s digital financial ecosystem by combining AI-driven personalization with fintech distribution services.
• The initiative supports Jio Finance’s role as a financial product distribution platform within the broader digital financial services ecosystem.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

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

• Raksha Rajya Mantri Shri Sanjay Seth inaugurated the restored 28 kilometre Chungthang–Lachen Axis and the 400 feet Bailey Suspension Taram Chu Bridge in North Sikkim.
• The infrastructure was rebuilt by the Border Roads Organisation after severe damage caused by Glacial Lake Outburst Flood (October 2023), Cyclone Remal (June 2024), and cloudbursts (May–June 2025).
• Under Project Swastik, the Border Roads Organisation cleared 96 landslides, completed 8 kilometres of fresh formation cutting, and created multiple diversions to bypass unstable stretches.
• The reopening of the Chungthang–Lachen Axis restores connectivity for local residents, tourists, and security forces, strengthening border infrastructure and supporting regional economic revival.
• The newly constructed 400 feet Bailey Suspension Taram Chu Bridge replaces flood-damaged infrastructure and enhances all-weather connectivity in strategically important areas near Lachen.
• A Bailey Bridge is a portable, pre-fabricated truss bridge widely used in mountainous and border regions for rapid deployment.
• As part of large-scale recovery efforts, the Border Roads Organisation also constructed four major bridges, repaired two additional bridges, and earlier reopened the 5 kilometre Naga Toong stretch in October 2025.
• The projects align with the ‘Atmanirbhar Sikkim – Viksit Bharat Vision’ and will improve community access, tourism, defence logistics, and trade activities in North Sikkim.
• The Border Roads Organisation, established in 1960 under the Ministry of Defence, is responsible for developing and maintaining road infrastructure in India’s border areas, particularly in challenging terrains such as the Himalayas and northeastern states.

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. 

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

Gujarat Receives ₹1,600 Crore Investment Boost to Strengthen Semiconductor Ecosystem

• Gujarat’s semiconductor ecosystem has received investment proposals worth over ₹1,600 crore from Japan, South Korea, and Malaysia, announced during the Gujarat Semiconnect Conference held in Gandhinagar.
• The investments aim to build an end-to-end semiconductor value chain, covering raw materials, semiconductor chemicals, advanced equipment, manufacturing units, integrated circuit packaging, testing solutions, research and development centres, and high-technology startups.
• Japan’s Horiba Group, through Horiba India Private Limited, signed a memorandum of understanding to establish a dedicated research and development centre in Ahmedabad focusing on semiconductor-grade mass flow controllers and advanced instrumentation technologies.
• Malaysia-based Hotayi Electronic will invest ₹250 crore to set up an electronics manufacturing facility at Sanand Gujarat Industrial Development Corporation, focusing on solid-state drive and memory module production, with an expected employment generation of around 1,000 jobs.
• A major upstream investment includes a ₹750 crore facility by Hi-Spec Limited for manufacturing semiconductor-grade hydrofluoric acid, a critical chemical used in wafer processing.
• Kiansh International Technologies, in collaboration with a South Korean partner, will invest ₹25 crore to manufacture gas abatement systems and scrubbers for semiconductor and solar industries.
• Japanese chipmaker Rohm Semiconductor has partnered with Gujarat-based Suchi Semicon to introduce integrated circuit packaging capabilities and testing solutions for domestic and global markets.
• Kaynes Semicon, a subsidiary of Kaynes Technology India Limited, has committed ₹500 crore to Ahmedabad-based startup SpectraGaze Systems to enhance capabilities in outer space imaging, semiconductor technologies, and high-technology innovation areas.
• The investment wave strengthens Gujarat’s ecosystem across raw material production, fabrication support, packaging, testing, advanced instrumentation, and innovation-driven sectors, reducing import dependence and enhancing India’s position in the global semiconductor value chain.
• With major semiconductor projects already underway in Sanand and Dholera, supported by strong industrial infrastructure and policy backing, Gujarat continues to consolidate its position as a leading hub for electronics and semiconductor manufacturing in India.

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

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. 

Maharashtra Launches Divyang Sahayak Portal for Digital Delivery of Disability Welfare Schemes

• The Government of Maharashtra launched the Divyang Sahayak Portal in, described as India’s first fully integrated online platform for disability welfare schemes.
• The portal eliminates paperwork and physical visits, enabling online applications, real-time tracking, automatic approvals, and artificial intelligence-based grievance redressal.
• It aims to strengthen implementation of the Rights of Persons with Disabilities Act, 2016 and ensure faster and transparent delivery of benefits.
• The Divyang Sahayak Portal functions as a one-stop digital platform allowing persons with disabilities to search, apply and track schemes without remembering scheme names.
• The system uses demographic data to automatically suggest eligible schemes, reducing exclusion errors.
• The entire process from application to approval is conducted online, with built-in timelines and service level agreements to prevent delays.
• An auto-forward mechanism ensures escalation if officials fail to act within the stipulated time.
• The portal includes a real-time application tracking system, integrated grievance redressal mechanism, and dedicated departmental dashboard to enhance transparency and accountability.
• The platform uses Application Programming Interfaces to connect with government databases and is integrated with the Unique Disability Identity system.
• It is linked with Aadhaar through Meri Pehchan and Direct Benefit Transfer platform, with integration of Permanent Account Number, Goods and Services Tax, bank details, and electronic signature systems
• Artificial intelligence tools are used to scan uploaded documents, flag incomplete applications, and sort and summarise grievances for faster resolution.
• The portal is structured into 11 modules, of which four modules are ready for launch, including a unified scheme delivery system, citizen grievance redressal system, institution information management system, digital marketplace for persons with disabilities, budget utilisation monitoring, accessibility audit management, and early intervention and rehabilitation centre management, with remaining modules to be launched in phases.
• The Rights of Persons with Disabilities Act, 2016 replaced the 1995 legislation, expanded recognised disabilities from 7 to 21, and strengthened provisions related to education, employment, accessibility, and social security, mandating equal opportunity and effective welfare implementation.
• The Divyang Sahayak Portal directly supports the objectives of the Rights of Persons with Disabilities Act, 2016 by improving access, monitoring, and transparency in disability welfare schemes in Maharashtra.

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

Varanasi Sets Guinness World Records by Planting 2,51,446 Saplings in One Hour

• Varanasi has created a new Guinness World Records milestone by planting 2,51,446 saplings within one hour at the Sujabad Domari area, surpassing China’s 2018 record of 1,53,981 saplings.
• The plantation drive was conducted over nearly 350 bighas of land, developed as an urban forest.
• The record was verified through drone surveillance and digital counting system.
• Guinness adjudicator Rishinath officially confirmed the record.
• The certificate was presented to Mayor Ashok Kumar Tiwari and Municipal Commissioner Himanshu Nagpal.
• The event was coordinated by the Varanasi Municipal Corporation along with multiple government departments and social organisations.
• The plantation site at Sujabad Domari has been transformed into an urban forest using the Miyawaki technique, a Japanese afforestation method that promotes dense and fast-growing forests.
• Officials expect the forest area to develop into a thick green cover within two to three years.
• A total of 27 native species were planted, including sheesham, Arjun, teak, bamboo, mango, guava, papaya, ashwagandha, shatavari, and giloy.
• The forest area has been divided into 60 sectors, each named after prominent ghats of Kashi such as Dashashwamedh, Manikarnika, Kedar, and Lalita.
• Each sector recorded plantation of over 4,000 saplings, ensuring uniform distribution across the site.
• The drive witnessed participation from the Indian Army, National Disaster Response Force, Central Reserve Police Force, Civil Defence, Provincial Armed Constabulary, Forest Department, Agriculture Department, Namami Gange teams, Deendayal Urban Development Agency teams, National Cadet Corps cadets, and National Service Scheme volunteers.
• To ensure long-term survival of the saplings, a 10.8 kilometre pipeline network has been installed.
• The irrigation system is supported by 10 borewells.
• Around 360 rain gun irrigation systems have been deployed to maintain sustained watering and survival of the plantation.

RECENT NEWS

• India has taken a historic step in green maritime mobility with the launch of its first fully indigenous hydrogen fuel cell passenger vessel, which began commercial operations at Namo Ghat, Varanasi. The vessel was flagged off by Union Minister Sarbananda Sonowal, marking a breakthrough in India’s transition toward clean, sustainable and self-reliant waterways.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Indian Prime Minister Narendra Modi Visits Israel on Invitation of Prime Minister Benjamin Netanyahu to Strengthen Bilateral Ties

• The Prime Minister of India, Narendra Modi, visited Israel at the invitation of Benjamin Netanyahu, accompanied by a high-level ministerial and official delegation (26–27 February 2026).
• During the visit, PM Modi visited the Yad Vashem in Jerusalem, where he paid tribute to Holocaust victims by laying a wreath and placing a commemorative stone.
• PM Narendra Modi became the first Indian Prime Minister to address the Israeli Parliament (Knesset), highlighting strong India–Israel diplomatic relations.
• After the address, he was conferred the ‘Medal of the Knesset’ by Knesset Speaker Amir Ohana, becoming the first Indian PM to receive this honour.
• PM Modi dedicated the honour to the long-standing friendship between India and Israel, emphasizing a strategic diplomatic partnership.
• During the visit, India and Israel announced the establishment of a Special Strategic Partnership for Peace, Innovation, and Prosperity.
• The partnership focuses on strengthening cooperation in defence, security, cybersecurity, trade, and technology
• Several bilateral agreements were signed covering geophysical exploration, maritime heritage, culture, digital payments, agriculture, Artificial Intelligence (AI), fisheries, financial regulation, labour mobility, education, arbitration, academia, and cybersecurity cooperation.
• The visit further strengthened India–Israel strategic, technological, and economic collaboration across multiple sectors.
• Overall, the visit reflects India’s growing focus on global strategic partnerships and technology-driven diplomatic relations.

About Israel :

• President : Isaac Herzog
• Prime Minister : Benjamin Netanyahu
• Capital : Jerusalem
• Currency : New shekel

CURRENT AFFAIRS: AWARDS AND HONOURS

Mangaluru International Airport Wins 2025 Airport Service Quality Award for Best Airport at Arrivals Globally

• Mangaluru International Airport won the 2025 Airport Service Quality Award for Best Airport at Arrivals – Globally, presented by Airports Council International World.
• This marks the second consecutive year (2024 and 2025) that the airport has secured this global recognition.
• Only six airports worldwide were selected in this category in 2025.
• The award is based entirely on real-time passenger feedback under the Airport Service Quality framework, making it one of the most credible benchmarks in the aviation industry.
• The arrivals category evaluates immigration services, baggage delivery, cleanliness, ambience, signage, and overall passenger comfort.
• In 2025, 100 airports globally were recognised across various categories under the Airport Service Quality programme.
• Mangaluru International Airport is managed by Adani Airport Holdings Limited, India’s largest private airport operator.
• Operational improvements through digital initiatives, process optimisation, passenger-centric infrastructure, and coordination with government agencies contributed to smoother arrivals experience.
• The Airport Service Quality Awards are organised annually by Airports Council International World, representing airports globally.
• The awards will be formally presented at the Airport Experience Summit 2026 in Istanbul, Türkiye, scheduled from 31 August to 4 September 2026, with the ceremony on 2 September 2026.
• A total of 195 awards will be presented worldwide in 2026, recognising excellence in airport operations and passenger service quality.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Germany Launch EUR 20 Million Climate Resilience Initiative under International Climate Initiative

• India and Germany announced a new EUR 20 million climate resilience initiative during a high-level Climate Talk in New Delhi, strengthening bilateral cooperation on climate adaptation.
• The funding will be provided under Germany’s International Climate Initiative to support implementation of India’s upcoming National Adaptation Plan.
• The initiative focuses on climate resilience and ecosystem-based adaptation in high-risk ecological zones vulnerable to climate change.
• Priority regions identified include the Himalayas, Western Ghats, North-East India, island regions, and Lower Gangetic floodplains, which face risks such as glacial melt, landslides, sea-level rise, coastal erosion, biodiversity loss, extreme rainfall, floods, and riverbank erosion.
• A key component of the project is Ecosystem-Based Adaptation, which promotes the use of natural ecosystems to reduce climate risks.
• Planned interventions include forest restoration, biodiversity corridor enhancement, flood and erosion control, groundwater recharge, and community-led natural resource management.
• The initiative will strengthen India’s National Adaptation Plan by improving monitoring and evaluation frameworks, enhancing adaptation learning systems, and exploring innovative financing tools.
• Proposed financing mechanisms include blended finance models, biodiversity credits, and climate insurance schemes.
• The International Climate Initiative is a German government funding programme supporting projects on climate mitigation, adaptation, forest conservation, and biodiversity protection worldwide.
• The new EUR 20 million programme deepens India–Germany cooperation in climate adaptation, biodiversity conservation, and sustainable development.

West Bengal Signs Memorandum of Understanding with Deutsche Gesellschaft für Internationale Zusammenarbeit and State Mission for Clean Ganga for Basin-Based Masterplans of Ichhamati and Jalangi Rivers

• The Government of West Bengal signed a memorandum of understanding on with Deutsche Gesellschaft für Internationale Zusammenarbeit and the State Mission for Clean Ganga, marking the State’s first structured basin- level river planning initiative.
• The project is part of the State’s ‘Nodi Bandhan’ initiative, announced in the 2025–26 Budget with an allocation of ₹200 crore, aiming to prepare comprehensive basin-based masterplans for river sub-basins.
• Out of 39 river sub-basins in West Bengal, Ichhamati and Jalangi rivers have been selected in the first phase.
• The tripartite agreement involves Deutsche Gesellschaft für Internationale Zusammenarbeit, State Mission for Clean Ganga, and the Irrigation and Waterways Department of West Bengal, and aligns with the objectives of the National Mission for Clean Ganga.
• The masterplans will focus on increasing water flow through dredging, diversion of surplus water, pollution removal, minimizing riverbank erosion, enhancing groundwater recharge, flood mitigation, and improving irrigation supply, with planning expected to be completed within one year.
• The Ichhamati River, flowing nearly 200 kilometres along the India–Bangladesh boundary, faces challenges such as severe siltation, stagnation, pollution from Basirhat, Hasnabad and Taki, industrial and domestic waste discharge, water hyacinth infestation, eutrophication, and decline in fisheries, and serves as a key sediment source for the Sundarbans delta.
• The Jalangi River, a distributary of the Ganga (Padma in Bangladesh) flowing through Murshidabad and Nadia before merging with the Bhagirathi-Hooghly, is affected by heavy siltation, municipal sewage discharge in Krishnanagar, industrial effluents, toxic heavy metals such as nickel and iron, and severe riverbank erosion, with channel shifts accelerating shallowing outside the monsoon season.
• Both rivers are transboundary rivers shared with Bangladesh, facing issues such as polluted upstream inflows, reduced water discharge, and lack of coordinated international river governance, requiring diplomatic and hydrological cooperation.
• India shares 54 rivers with Bangladesh, including the Ganga (Padma), Teesta, Feni, Kushiyara, Brahmaputra (Jamuna), and Meghna; with China, major shared rivers include the Brahmaputra (Yarlung Tsangpo) and Indus system, supported by two memoranda of understanding on hydrological information sharing; with Pakistan, river sharing is governed by the 1960 Indus Waters Treaty, allocating western rivers (Indus, Chenab, Jhelum) to Pakistan and eastern rivers (Beas, Ravi, Sutlej) to India; and with Nepal, key shared rivers include the Kosi, Gandak, Rapti, Narayani, and Kali (Sharda).

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research & Development Organisation Successfully Carries Out Flight Tests of Very Short-Range Air Defence System

• The Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) successfully conducted three consecutive flight trials of the indigenously developed Very Short-Range Air Defence System (VSHORADS).
• The trials were conducted at the Integrated Test Range, Chandipur (ITR), located off the coast of Odisha.

Key Highlights :

• VSHORADS is a Man-Portable Air Defence System (MANPADS) designed to neutralize low-altitude aerial threats such as fighter aircraft, helicopters, UAVs, and drones.
• The purpose of the trials was to revalidate the missile system’s capability to destroy high-speed aerial targets flying at varying speeds, ranges, and altitudes.
• In all three trials, the missiles successfully intercepted and destroyed simulated enemy aircraft targets, meeting extreme engagement parameters.
• The tests were conducted in final deployment configuration, where target acquisition and missile firing were carried out by field operators, demonstrating operational readiness.
• Flight data was recorded using advanced instruments such as Telemetry Systems, Electro-Optical Tracking Systems, and Radars deployed at ITR Chandipur.
• The validation trials were conducted in the presence of representatives from the Indian Army, Indian Navy, and Indian Air Force, along with senior DRDO officials and development-cum-production partners.
• The Research Centre Imarat (RCI), in collaboration with other DRDO laboratories and industry partners, designed and developed the VSHORADS system indigenously.
• The missile system is capable of meeting the operational requirements of all three branches of the Indian Armed Forces (Army, Navy, Air Force).
• The successful trials align with the Government of India’s Atmanirbhar Bharat initiative, promoting self-reliance in defence manufacturing.

Recent News :

• In Jan 2026, At the 77th Republic Day Parade on Kartavya Path, the Defence Research and Development Organisation (DRDO) unveiled the Long Range Anti-Ship Hypersonic Missile (LR-AShM) for the first time, highlighting India’s advances in hypersonic weapon systems.

About DRDO :

• Headquarters : New Delhi, India
• Chairman : Samir V. Kamat

Indian Air Force Conducts Exercise Vayushakti-26 at Pokhran Firing Range in Jaisalmer,Rajasthan

• The Indian Air Force (IAF) successfully conducted Exercise Vayushakti-26 at the Pokhran Field Firing Range, Jaisalmer, Rajasthan, demonstrating combat readiness, joint operational capability, and technological superiority.
• Droupadi Murmu, the President of India, attended the firepower demonstration as Chief Guest, along with Union Defence Minister Rajnath Singh and other senior government and defence officials.

Key Highlights :

• For the first time, Exercise Vayushakti was conducted using a defined operational storyline, transforming it into a simulated live combat theatre integrating multi-domain warfare operations.
• The exercise combined offensive air strikes, air defence operations, special forces missions, and humanitarian assistance operations, showcasing IAF’s role as India’s first responder force.
• More than 130 aircraft participated in the day-and-night exercise, including:Rafale, Su-30 MKI, Mirage-2000, MiG-29, Jaguar, Hawk, Mi-17, C-130J, C-295, C-17,Indigenous platforms like Advanced Light Helicopter (ALH) Dhruv and Light Combat Helicopter (LCH) Prachand
• The President also flew in the indigenously developed LCH Prachand, reflecting India’s focus on Atmanirbhar Bharat (self-reliant defence manufacturing).
• Fighter aircraft conducted precision strikes on simulated enemy targets using precision-guided munitions and long-range strike weapons, highlighting accurate firepower delivery.
• Air defence capabilities were demonstrated using Akash and Spyder missile systems, supported by Army air defence assets such as L-70 guns and M-777 artillery systems, demonstrating joint military operations.
• Special forces operations were conducted using Garud Commandos and Para Special Forces (Para SF).
• Special operations included urban intervention, hostage rescue simulations, assault landings, and casualty evacuation missions using C-130J and C-295 aircraft.
• At dusk, special forces insertion was carried out using Mi-17 helicopters, demonstrating rapid response capability.
• The night combat phase demonstrated round-the-clock battle readiness through integrated air defence and precision night strikes.
• The exercise concluded with a symbolic ceasefire flypast by C-17 aircraft and a drone aerial display celebrating IAF heritage and achievements.
• The exercise followed IAF core values of “Achook, Abhedya aur Sateek” (Infallible, Invincible and Precise), validating IAF operational doctrine and strategic deterrence capability.

Indian Air Force Southern Air Command Conducts Joint Maritime Exercise ‘Kalari Leap’

• The Southern Air Command (SAC) of the Indian Air Force (IAF) successfully conducted Exercise Kalari Leap in the Lakshadweep and Minicoy Archipelago in the Arabian Sea.
• The objective of Exercise Kalari Leap was to validate joint operational planning, rapid force projection, and precision execution in complex maritime operational environments.
• The exercise involved coordinated multi-force operations with participation from:Armed Forces Special Operations Division (AFSOD), Indian Coast Guard (ICG)
• The exercise demonstrated integrated maritime, air, and special operations capability of Indian defence forces in island and coastal security scenarios.
• Operations conducted included airborne and air-landed troop insertions, heliborne assaults, amphibious operations, anti-ship missile strikes, and search and rescue missions.
• The IAF deployed advanced aircraft including AN-32 transport aircraft, Mi-17V5 helicopters, and Su-30MKI fighter jets.
• The Indian Coast Guard deployed Coast Guard ships, Gemini high-speed boats, and Dornier 228 maritime patrol aircraft.
• AFSOD Special Forces participated in combat free-fall parachute insertions and amphibious warfare operations.
• The exercise focused on strengthening joint maritime security operations, rapid response capability, and strategic island defence preparedness.
• Exercise Kalari Leap validated SAC’s ability to conduct high-tempo combat operations in challenging maritime and archipelagic environments.

Indian Navy’s Indian Naval Sailing Vessel Kaundinya to Be Flagged Into Mumbai Harbour by Defence Minister of State Sanjay Seth

• The Indian Navy’s Indian Naval Sailing Vessel (INSV) Kaundinya will be flagged into Mumbai Harbour on 02 March 2026 by Sanjay Seth, Raksha Rajya Mantri.
• The flag-in ceremony marks the successful completion of the vessel’s maiden overseas voyage to the Sultanate of Oman, strengthening India–Oman maritime and cultural relations across the Arabian Sea.
• INSV Kaundinya is a traditionally constructed stitched ship, built using ancient Indian maritime techniques, where wooden planks are hand-stitched using coir rope and natural resins.
• The vessel represents a revival of India’s ancient maritime craftsmanship and promotes preservation of Indic knowledge systems and traditional naval heritage.
• The ship was conceptualised from a 5th century CE depiction in the Ajanta Caves and constructed under Indian Navy supervision with support from traditional Indian artisans.
• The voyage began from Porbandar on 29 December 2025 and followed ancient Indian maritime trade routes used by early Indian sailors.
• The vessel reached Port Sultan Qaboos on 14 January 2026, where it received a ceremonial diplomatic welcome with participation from Omani dignitaries and the Indian diaspora.
• The voyage strengthened historical trade and cultural ties based on ancient commerce in spices, textiles, and frankincense trade routes across the Indian Ocean.
• The expedition highlights the role of the Indian Navy as both a maritime security force and a custodian of India’s civilisational maritime heritage.
• The vessel was named after the legendary mariner Kaundinya, symbolising India’s ancient ocean navigation and maritime outreach traditions.
• The successful voyage demonstrates the durability of traditional shipbuilding techniques and the professional skill of the naval crew.
• The project reflects India’s focus on maritime diplomacy, cultural outreach, and preservation of traditional nautical engineering knowledge.
• The flag-in ceremony in Mumbai will mark the completion of a maritime heritage revival initiative showcasing India’s blue economy and cultural diplomacy efforts.

CURRENT AFFAIRS: SPORTS NEWS

Alyssa Healy Retires from All Forms of Cricket After Record-Breaking Final One Day International in Hobart

• Former Australia Captain Alyssa Healy has retired from all forms of international cricket after a memorable final One Day International match in Hobart.
• In her farewell One Day International, she scored a stunning 158 runs off 98 balls, leading Australia to 409 for 7 against India.
• India were bowled out for 224 runs in 45.1 overs, and Australia secured a massive 185-run victory.
• She reached her first 50 runs in 49 balls, her second 50 in 30 balls, and her final 50 in just 16 deliveries, showcasing exceptional acceleration and match control.
• During the innings, she hit 23 runs in a single over against spinner Sree Charani, shifting the momentum decisively in Australia’s favour.
• Despite suffering cramps, she continued her aggressive stroke play, hitting lofted drives and powerful shots over long-on and cover.
• She also bowled two overs, marking the first time she bowled in international cricket, adding a unique moment to her farewell match.
• Before her final match, Alyssa Healy had played 125 One Day Internationals, scoring 3,619 runs at an average of 83.
• Her career record includes 8 centuries and 19 half-centuries.
• She finished her One Day International career with an outstanding strike rate of 100.69, underlining her status as one of the most aggressive openers in women’s cricket history.
• Having made her debut in 2010, she remained a pioneering attacking batter throughout her international career.

CURRENT AFFAIRS : OBITUARIES

Padma Shri Honouree and Renowned Ghoda Nacha Artist Utsav Charan Das passed away at 80

• Utsav Charan Das, a Padma Awardee and renowned Ghoda Nacha (dummy horse dance) artist, passed away at the age of 80 in Cuttack, Odisha.
• He was born in 1946 in Mania, Orissa Province (British India), now part of Odisha.
• He was awarded the Padma Shri in 2020, India’s fourth highest civilian award, for his contribution to the field of art and folk culture.
• He was widely recognized for his lifelong dedication to preserving and promoting the traditional folk dance form Ghoda Nacha, a significant part of Odisha’s cultural heritage.
• His art career spanned over six decades, with performances across villages, towns, and major cultural festivals in Odisha.
• His performances were known for energetic stage presence, strong narrative expression, authentic traditional costumes, and synchronized musical coordination.
• In 1964, he established a training institution for Ghoda Nacha, contributing significantly to the systematic preservation and transmission of the folk art form.
• As a mentor and cultural promoter, he trained and guided numerous young artists, organizing workshops and cultural programs to sustain the tradition.
• His legacy represents a major contribution to the preservation of Indian folk arts and the promotion of regional cultural traditions at the national level.

CURRENT AFFAIRS: IMPORTANT DAYS

World Hearing Day 2026 Observed on 3 March

• World Hearing Day 2026 will be observed globally on 3 March 2026 to raise awareness about prevention of deafness and hearing impairment and to promote ear and hearing care worldwide.
• The day is observed across countries to encourage early detection, timely intervention, and accessible hearing healthcare services.
• In the late 1816, Laurent Clerc helped establish one of the earliest recorded permanent institutions for deaf students in the United States, marking a significant milestone in deaf education.
• In 1870, at the Second International Congress on Deaf Education in Milan, Italy, educators adopted oral teaching methods and discontinued the use of sign language in formal instruction.
• The World Health Organization initiated the observance in 2007 as International Ear Care Day to raise awareness about preventing deafness.
• In 2016, the observance was officially renamed as World Hearing Day to expand its focus on comprehensive hearing care and prevention strategies.

World Wildlife Day 2026 Observed on 3 March

• World Wildlife Day 2026 is observed globally on 3 March 2026 to raise awareness about the importance of wildlife conservation.
• The day commemorates the signing of the Convention on International Trade in Endangered Species of Wild Fauna and Flora.
• The observance highlights the multiple ecological, economic, and social benefits provided by wild animals and plants, and promotes their conservation.
• The proposal to designate World Wildlife Day was made by Thailand at the United Nations General Assembly on 20 December 2013.
• At its 68th session, the United Nations General Assembly officially declared 3 March as World Wildlife Day, marking the adoption of the Convention on International Trade in Endangered Species of Wild Fauna and Flora.

Daily CA One- Liner: March 3

• Raksha Rajya Mantri Shri Sanjay Seth inaugurated the restored 28 kilometre Chungthang–Lachen Axis and the 400 feet Bailey Suspension Taram Chu Bridge in North Sikkim
• Gujarat’s semiconductor ecosystem has received investment proposals worth over ₹1,600 crore from Japan, South Korea, and Malaysia, announced during the Gujarat Semiconnect Conference held in Gandhinagar
• The Government of Maharashtra launched the Divyang Sahayak Portal in, described as India’s first fully integrated online platform for disability welfare schemes
• Varanasi has created a new Guinness World Records milestone by planting 2,51,446 saplings within one hour at the Sujabad Domari area, surpassing China’s 2018 record of 1,53,981 saplings
• Mangaluru International Airport won the 2025 Airport Service Quality Award for Best Airport at Arrivals – Globally, presented by Airports Council International World
• India and Germany announced a new EUR 20 million climate resilience initiative during a high-level Climate Talk in New Delhi, strengthening bilateral cooperation on climate adaptation
• The Government of West Bengal signed a memorandum of understanding on with Deutsche Gesellschaft für Internationale Zusammenarbeit and the State Mission for Clean Ganga, marking the State’s first structured basin- level river planning initiative
• Former Australia Captain Alyssa Healy has retired from all forms of international cricket after a memorable final One Day International match in Hobart.
• Sri Lanka’s first-ever Blue Bond, an LKR 3 billion issuance by DFCC Bank Plc, has been dually listed on the NSE International Exchange (NSE IX) at Gujarat International Finance Tec-City (GIFT City).
• The Mamata Banerjee-led West Bengal Government Cabinet approved two major development projects worth ₹4,648 crore in partnership with the Asian Development Bank (ADB).
• Indian AI startup Sarvam has entered into a strategic partnership with SBI Life Insurance Company Limited, a subsidiary of the State Bank of India (SBI).
• IIFL Home Finance Limited secured a USD 300 million loan agreement from the Asian Development Bank (ADB) to expand affordable housing finance access in India.
• Indian AI firm Gnani.ai partnered with fintech company Razorpay to launch an Agentic Artificial Intelligence (AI)-powered collections platform.
• Central Bank of India (CBI) signed a Distribution Agreement with Canara Robeco Asset Management Company Limited (CRAMC) to offer a wide range of Mutual Fund (MF) products to its customers.
• Jio Financial Services Limited (JFSL) subsidiary Jio Finance Platform and Service Limited (JFPSL) launched the ‘Finsider’ financial app for early access users.
• The Prime Minister of India, Narendra Modi, visited Israel at the invitation of Benjamin Netanyahu, accompanied by a high-level ministerial and official delegation (26–27 February 2026).
• The Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) successfully conducted three consecutive flight trials of the indigenously developed Very Short-Range Air Defence System (VSHORADS).
• The Indian Air Force (IAF) successfully conducted Exercise Vayushakti-26 at the Pokhran Field Firing Range, Jaisalmer, Rajasthan, demonstrating combat readiness, joint operational capability, and technological superiority.
• The Southern Air Command (SAC) of the Indian Air Force (IAF) successfully conducted Exercise Kalari Leap in the Lakshadweep and Minicoy Archipelago in the Arabian Sea.
• The Indian Navy’s Indian Naval Sailing Vessel (INSV) Kaundinya will be flagged into Mumbai Harbour on 02 March 2026 by Sanjay Seth, Raksha Rajya Mantri.
• Utsav Charan Das, a Padma Awardee and renowned Ghoda Nacha (dummy horse dance) artist, passed away at the age of 80 in Cuttack, Odisha.
• World Hearing Day 2026 will be observed globally on 3 March 2026 to raise awareness about prevention of deafness and hearing impairment and to promote ear and hearing care worldwide
• World Wildlife Day 2026 is observed globally on 3 March 2026 to raise awareness about the importance of wildlife conservation