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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Government Notifies Baggage Rules 2026, New Customs Regulations, and Master Circular

• The Central Board of Indirect Taxes and Customs (CBIC) has notified the Baggage Rules, 2026, along with Customs Baggage (Declaration and Processing) Regulations, 2026 and a Master Circular to simplify international passenger clearance.
• The new rules aim to enhance passenger facilitation, introduce electronic and advanced declarations, improve transparency, and align customs procedures with rising travel volumes and modern travel needs.

Key Highlights :

• The general duty-free allowance has been increased as follows: ₹75,000 for residents, Indian-origin tourists, and foreigners with valid non-tourist visas, ₹25,000 for foreign tourists, and ₹2,500 for crew members.
• Passengers arriving through land borders are not entitled to any general duty-free allowance under the new rules.
• Transfer of residence benefits have been simplified with value limits of ₹1.5 lakh (up to 12 months abroad), ₹3 lakh (1–2 years), and ₹7.5 lakh (above 2 years).
• Jewellery allowance has been modernised by removing value caps and allowing duty-free jewellery based on weight: up to 40 grams for female passengers and 20 grams for others.
• The rules consolidate earlier provisions, allow one duty-free laptop (for passengers above 18 years) and pets, and replace 35 old circulars, making India a more tourism-friendly destination.
• New provisions for temporary import/re-import include issuance of temporary baggage import or export certificates to avoid unnecessary detention of goods.
• The revised framework focuses on higher duty-free limits, reduced detention, digital and simplified processes, and uniform implementation across Customs formations to enhance passenger convenience and strengthen India’s global tourism position.

About CBIC :

• The Central Board of Indirect Taxes and Customs (CBIC), formerly known as the Central Board of Excise and Customs (CBEC), is constituted under the Central Boards of Revenue Act, 1963.
• CBIC is the apex body under the Department of Revenue, Ministry of Finance, responsible for administering indirect taxes in India.
• It is tasked with formulation of policy concerning levy and collection of Customs, Central Excise duties, Central Goods & Services Tax (CGST), and Integrated GST (IGST).
• The CBIC is headed by a Chairman and has six members in addition to the Chairman.
• Formed : 26 January 1944
• Headquarter : New Delhi, India
• Chairperson : Vivek Chaturvedi

Secretary, Department of Financial Services Delivers Keynote at PSB Alliance Annual Strategy Meet 2026 in New Delhi

• The PSB Alliance Annual Strategy Meet 2026 was held in New Delhi, where the Secretary, Department of Financial Services (DFS) highlighted that PSB Alliance has evolved into a strategic partner by combining technology, data, and purpose to build an inclusive and innovative banking sector.
• The Secretary, DFS launched the BAANKNET (Bank Assets Auction Network) mobile app and the Digital Balance Confirmation Platform (DBCP) during the event.
• The BAANKNET mobile app will provide nationwide access to verified bank auction properties, enhance transparency, empower citizens, and support banks in achieving faster loan recoveries.
• The Digital Balance Confirmation Platform (DBCP) will improve efficiency and transparency in audits and aims to eliminate manual balance confirmation certificates.
• The Secretary, DFS advised that PSB Alliance should expand shared services beyond public sector banks.
• Shri Nagaraju (IAS) is the Secretary of the Department of Financial Services (DFS) under the Ministry of Finance, Government of India, as of early 2026.

What is BAANKNET?

• BAANKNET is a newly launched e-auction portal that consolidates information about properties put up for auction by Public Sector Banks (PSBs).
• It serves as a one-stop destination for buyers and investors, providing access to a wide range of properties, including residential, commercial, industrial, and agricultural assets.
• The portal aims to enhance transparency, accessibility, and efficiency in the bank property auction process.

Union Government to Table Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in Budget Session from March, 2026

• The Union government plans to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session of Parliament beginning March 9, 2026.
• The move aims to strengthen India’s insolvency framework by improving efficiency, reducing delays, and aligning the regime with global best practices.

Key Highlights :

• Union Finance Minister Nirmala Sitharaman, who also holds charge of the Corporate Affairs Ministry, stated that the Bill is ready to be tabled as the parliamentary committee examining the amendments has submitted its report.
• The proposed amendments aim to enhance timelines and effectiveness of insolvency proceedings, bring India’s insolvency regime closer to international standards, and ensure faster admission of cases, improved resolution outcomes, and greater predictability for creditors and investors.
• The Insolvency and Bankruptcy Code (IBC), enacted in 2016, has undergone six amendments, with the last amendment in 2021. The upcoming Bill will be the seventh amendment to the law.
• The IBC fundamentally altered the debtor-creditor relationship in India, introducing strict consequences for default, creating a deterrent effect among companies and promoters.
• A Bill to amend the IBC was earlier introduced in the Lok Sabha on August 12, 2025, proposing reduction in time for admitting insolvency resolution applications, and was referred to a select committee, which submitted its report in December 2025.
• Incorporating the committee’s suggestions, the government now expects to table the revised amendment Bill in the latter half of the Budget session starting March 9, 2026.

About Insolvency and Bankruptcy Code :

• The Insolvency and Bankruptcy Code (IBC) was introduced in 2016 to overhaul India’s corporate distress resolution regime and consolidate previously available laws into a comprehensive, time-bound mechanism.
• Before IBC, insolvency resolution in India took an average of 4.3 years, whereas countries like the UK and USA completed it in 1 year and 1.5 years, respectively.
• The IBC 2016 was implemented through an act of Parliament and aims to promote entrepreneurship, improve credit availability, and balance the interests of all stakeholders.
• Under IBC, when insolvency is triggered, there can be two outcomes: resolution or liquidation.
• The timeframe for completing insolvency proceedings under IBC is 180 days, which may be extended if creditors do not raise objections.
• For smaller companies and startups with an annual turnover of Rs 1 crore, the insolvency exercise must be completed within 90 days.
• The IBBI consists of 10 members drawn from the Finance Ministry, Law Ministry, and the Reserve Bank of India (RBI).

Central Bank of India Partners with HSBC Asset Management to Offer Mutual Fund Products to Customers

• Central Bank of India (CBI), a leading Public Sector Bank (PSB), signed a distribution agreement with HSBC Asset Management (India) Private Limited to offer Mutual Fund (MF) products to its customers.
• The partnership aims to expand CBI’s wealth management offerings across its customer base.
• Under the agreement, CBI will distribute HSBC AMC’s MF schemes including equity, debt, and hybrid funds through its bank branches and digital platforms.
• HSBC Asset Management (India) will provide professionally managed mutual fund investment solutions to CBI customers.
• The collaboration is expected to help customers unlock the value of their savings through diversified investment products aligned with long-term financial goals.

About Central Bank of India :

• Founded : 21 December 1911
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Kalyan Kumar

Matrixport Secures In-Principle Regulatory Approval to Operate Financial Services in Bhutan’s GMC

• Matrixport, a leading digital asset financial services platform, received In-Principle Approval (IPA) for its Bhutan-based entity Matrix Bhutan Pte Ltd from the Gelephu Financial Services Office (GFSO).
• The approval allows Matrix Bhutan Pte Ltd to operate regulated financial services within or from Gelephu Mindfulness City (GMC), Bhutan.
• Under the proposed licence, Matrixport can offer regulated money services, deal in investments as a matched principal, and provide custody services for assets.
• No regulated financial services will commence until all licensing conditions are fulfilled and final approval is granted by the GFSO.
• The planned operations in Gelephu Mindfulness City (GMC) will function under a robust Supervision, Compliance, and Governance framework, ensuring regulatory oversight and operational integrity.

National Statistical Office to Launch NHIS and ASISSE from April 2026 to Strengthen India’s Statistical System

• The National Statistical Office (NSO) under the Ministry of Statistics & Programme Implementation (MoSPI) will launch two major national surveys—the National Household Income Survey (NHIS) and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)—from April 2026 to strengthen India’s statistical system.
• These surveys aim to fill long-standing data gaps, particularly in household income and the services sector, using robust scientific design, expert guidance, and extensive field trials.
• The NHIS will generate comprehensive data on living conditions, income distribution, and income sources, enabling inter-household and inter-regional comparisons and providing insights into patterns of income generation.
• The ASISSE will comprehensively cover the incorporated services sector using Goods and Services Tax Network (GSTN) datasets, producing State- and industry-level estimates on Gross Value Added (GVA), fixed capital, capital formation, employment, and wages/emoluments.
• Both surveys will be conducted in digital mode (CAPI) across India, except for remote villages of Andaman & Nicobar Islands, with a strong focus on data quality, field supervision, and building respondent trust.
• The surveys are expected to support policy formulation, enable assessment of household well-being, and provide a comprehensive database on the corporate services sector for economic planning and interventions.
• The All-India Workshop of Trainers (AIWOT) held in Chennai on 28–29 January 2026 trained around 300 officials from zonal, regional, and sub-regional offices to ensure uniform understanding of concepts and successful field implementation.
• The surveys will cover the entire Indian Union, generating data to strengthen India’s statistical system and facilitate evidence-based economic planning.

Ministry of Statistics and Programme Implementation Revises Consumer Price Index Base Year to 2024, Lowers Food & Beverages Weight to 36.75%

• The Ministry of Statistics and Programme Implementation (MoSPI) has revised the Consumer Price Index (CPI) base year to 2024, reducing the weight of Food & Beverages from 45.86% to 36.75%.
• The revision is based on the Household Consumption Expenditure Survey (HCES) 2023–24, reflecting changing consumption patterns in India.
• The weight of Housing increases sharply from 10.07% to 17.66%, with improved rent measurement methods, which may push housing inflation upward.
• The revised CPI basket includes 358 items (up from 299) and adopts reclassified categories, including Education as a standalone group.
• Price data will be collected from 1,465 rural markets and 1,395 urban markets across 434 towns.
• 12 online markets in cities with a population over 2.5 million will be added to capture prices from e-commerce platforms weekly.
• The revised CPI series, called CPI 2024, will adopt the Classification of Individual Consumption According to Purpose (COICOP) 2018 framework to enhance international comparability.
• To ensure continuity, a linking factor between CPI 2012 and CPI 2024 will be released for all-India, rural, and urban indices, with the first CPI-2024 data scheduled on 12 February 2026.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Assam Govt Announces ₹50 Crore Grant to Preserve Koch Dynasty Heritage

• Assam Chief Minister Himanta Biswa Sarma announced a ₹50 crore grant to preserve and restore the heritage of the Darrang kings of the Koch dynasty during Mahabir Chilarai Divas celebrations in Darrang district.
• The grant aims to restore royal sites, monuments and cultural landmarks associated with the Darrang kingdom of the Koch dynasty.
• The Darrang district administration and Public Works Department (PWD) were directed to begin restoration work immediately.
• The project seeks to honour indigenous rulers, protect Assam’s historical legacy and develop the region as a major cultural tourism hub.
• The Koch dynasty was one of the most powerful medieval dynasties of Assam, emerging after the decline of the Pal dynasty of ancient Kamarupa.
• The dynasty was founded by Biswa Singha in 1515 and reached its peak under Maharaj Naranarayan (1540–1586).
• The Koch rulers played a major role in shaping Assam’s political boundaries, military strength and cultural identity.
• The Koch dynasty followed a hereditary monarchy, used Narayani currency, and adopted Hinduism through Sanskritisation, while also accommodating local ethnic traditions.
• Mahabir Chilarai, brother of Maharaj Naranarayan, is remembered as one of Assam’s greatest military commanders.
• He earned the title “Chilarai” due to his lightning-fast military campaigns.
• He built a strong land and naval force and expanded Koch influence across Ahom, Kachari, Jaintia, Tripura and Sylhet regions.
• The historic Gohain Kamal Ali Road reflects his strategic and administrative vision.
• Under Naranarayan and Chilarai, Assam witnessed a cultural and religious revival.
• Important temples such as Kamakhya and Hayagriva Madhav were reconstructed, strengthening Assam’s spiritual and cultural heritage.
• The Koch rulers acted not only as political leaders but also as patrons of culture and religion, shaping Assamese identity.
• Additional announcements included the unveiling of a statue of Maharaj Krishnanarayan of the Darrang kingdom.
• Chilarai Bhawans were inaugurated at Mangaldoi and Golaghat.
• The government also announced land allotment and construction of an office for the All Assam Koch Rajbongshi Sanmilani at Amingaon, reinforcing commitment to indigenous heritage.
• Historically, the Koch kingdom later split into Koch Bihar (west) and Koch Hajo (east) after Naranarayan’s death in 1587.
• Darrang functioned as a vassal state under the Ahoms, ruled by Koch lineage rulers like Balinarayan, Mahendra Narayan and Chandra Narayan.
• Koch Bihar became a British princely state in 1775 and was finally merged with India in 1949–1956.
• The ₹50 crore heritage project reflects Assam’s broader strategy of linking history, cultural pride and tourism-driven development, while preserving the legacy of one of the state’s most influential dynasties.

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

• In a major boost to higher education and research, the Assam government has announced a new financial assistance scheme for research scholars. The initiative aims to ease financial stress, promote innovation, and build a strong academic ecosystem, positioning Assam as a growing hub of knowledge and research-driven development.

National Statistics Office to Conduct Nationwide Survey on Migration (2026–27)

• The National Statistics Office (NSO) has announced a nationwide Survey on Migration, scheduled to be conducted from July 2026 to June 2027.
• The survey is being launched in the context of rapid urbanisation, rising labour mobility, inter-state movement, and seasonal migration across India.
• The objective is to generate updated, comprehensive and reliable data on migration patterns, which is currently limited and outdated.
• The findings are expected to support policy decisions related to urban planning, employment, housing, transport systems, skill development, and social protection, making the survey important from a current affairs and competitive exam perspective.
• The proposed survey aims to collect fresh and detailed information on internal migration across the country.
• It will cover rural–urban migration, inter-state migration, seasonal migration, circular migration, and return migration.
• The survey will also record the reasons for migration, including employment, education, marriage, and other socio-economic factors.
• Unlike routine labour surveys, this will be a dedicated migration survey, designed to provide a holistic picture of population mobility, covering social, economic, and employment-related dimensions.
• The survey will examine the extent and nature of migration, focusing on who migrates, where they migrate, and why they migrate.
• It will study the employment profile of migrants, helping assess the link between migration and job opportunities.
• Temporary, circular, and seasonal migration will receive special attention, as these forms are often underreported but play a critical role in India’s informal economy.
• According to the government, the data generated will enable evidence-based policymaking.
• It will help address pressures on urban infrastructure, housing demand, transport networks, and public services.
• Accurate migration data is essential for balanced regional development, especially as cities face increasing population inflows and labour mobility continues to rise.
• Earlier migration-related data mainly came from the Periodic Labour Force Survey (PLFS) 2020–21 and the Multiple Indicator Survey 2020–21.
• As per PLFS 2020–21, India’s overall migration rate was 28.9%, highlighting the large scale of internal migration.
• These estimates now require updating due to post-pandemic economic shifts and changes in employment patterns.
• Previous data highlighted a strong gender dimension in migration.
• The migration rate among males was 10.7%, while it was significantly higher among females at 47.9%.
• Among women, marriage was the dominant reason, accounting for 86.8% of female migration.
• For men, employment and better job opportunities were the primary drivers, accounting for 22.8% of male migration.
• The upcoming NSO survey is expected to reassess these patterns and examine whether migration drivers and gender trends are changing in recent years.

Andhra Pradesh Launches Pilloo AI Voice-Based Billing and Accounting App

• Chief Minister N. Chandrababu Naidu launched Pilloo AI, a voice-based billing and accounting application in Andhra Pradesh.
• Pilloo AI is an AI-powered digital accounting agent designed to simplify financial management for small businesses.
• The application allows users to create invoices, record sales and payments, generate balance sheets, and track receivables and payables simply by speaking in their native language.
• Users are not required to have any prior accounting knowledge, making the app especially useful for micro and small enterprises, shopkeepers and first-time entrepreneurs.
• The app supports five Indian languages, ensuring wider accessibility and ease of use.
• Pilloo AI enables users to record daily transactions, generate financial reports, and automate data entry.
• Users can upload bills and bank statements, which are processed instantly using AI-based data extraction.
• This automation reduces manual effort, saves time, and minimizes errors in bookkeeping.
• By eliminating dependence on professional accountants and expensive accounting software, the app lowers the entry barrier to formal accounting.
• Pilloo AI helps improve financial discipline, transparency and record-keeping accuracy among MSMEs.
• Proper digital records enhance credit readiness, helping small businesses access bank loans and government schemes more easily.
• The initiative aligns with Andhra Pradesh’s vision of using technology to simplify business operations, promote digital inclusion, and strengthen the MSME ecosystem.
• Pilloo AI also supports India’s broader national push for MSME digitisation and transparent financial practices.

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu 
• Governor: S. Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

RECENT NEWS

• India’s space infrastructure is set to expand further with Andhra Pradesh announcing a new spaceport. Chief Minister N. Chandrababu Naidu confirmed that Hope Island will host a launch facility primarily for private missions, marking a significant step in supporting commercial space activities and strengthening India’s position in the global space economy. 

India Emerges as a Major Engine of Global Urban Growth in 2025: UN Report

• A United Nations report (2025) states that around 45% of the global population lives in urban areas, a sharp rise from 20% in 1950.
• India has emerged as one of the biggest drivers of global urban growth, placing it at the centre of worldwide urbanisation trends.
• India currently has five megacities, each with a population of more than 10 million.
• New Delhi, with a population of over 30 million, is among the four largest cities in the world, alongside Jakarta, Dhaka and Tokyo.
• Major Indian cities such as Mumbai, Bengaluru, Chennai and Kolkata continue to attract migration, jobs and investment.
• The 2025 UN report introduced the “Degree of Urbanization” method, which classifies cities based on population size and density, not just administrative boundaries.
• Under this method, densely populated urban areas outside official city limits are also counted as cities.
• Due to this revised methodology, population estimates of many Indian and Asian cities have increased, offering a more accurate picture of urban living patterns.
• Asia dominates global urbanisation, hosting 9 of the world’s 10 largest cities and nearly 60% of all megacities.
• India plays a central role in Asia’s urban growth, supported by its young population, internal migration and expanding service and manufacturing sectors.
• While megacities receive attention, the report highlights that most urban growth is occurring in small and medium-sized cities.
• Nearly 96% of cities globally have populations below 1 million.
• In India, smaller cities are growing faster than large metros due to improved road connectivity, digital infrastructure and emerging local industries.
• Cities such as Kozhikode, with a population exceeding 5 million, highlight the shift away from metro-centric urban development.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Shri Hari Shankar Verma Assumes Charge as Member (Operations & Business Development) of Railway Board

• Shri Hari Shankar Verma, a 1987 batch Indian Railway Traffic Service (IRTS) officer, has assumed charge as Member (Operations and Business Development), Railway Board, and Ex-officio Secretary to the Government of India.
• Prior to this appointment, he served as Director General, Safety, Railway Board, where he played a key role in strengthening railway safety standards.
• During his tenure as Director General, Safety, Indian Railways’ safety record improved significantly, with a drastic reduction in consequential accidents through process improvements.
• In his career with Indian Railways, Shri Verma has held several important positions including Additional Divisional Railway Manager, Central Railway (Mumbai) and Divisional Railway Manager, Salem Division, Southern Railway.
• He also served as Chief Passenger Traffic Manager, Central Railway, Mumbai, Principal Chief Operations Manager, Hubli, South Western Railway, and Director General, Indian Railways Institute of Transport Management (IRITM), Lucknow.
• Shri Verma has received the Hon’ble Rail Minister Award twice along with multiple General Manager (GM) level awards for his outstanding contributions.
• He has undergone management training in Singapore, Malaysia, and Italy, and is widely regarded as a specialist in Railway Traffic and Management.

About Ministry of Railways :

• Cabinet Minister : Ashwini Vaishnaw
• Minister of State : V. Somanna,Ravneet Singh Bittu
• Chairman & CEO, Railway Board : Satish Kumar

Shri Divakar Jayant Assumes Charge as Director General of Naval Armament

• Shri Divakar Jayant, INAS, took charge as Director General of Naval Armament (DGONA) at Naval Headquarters, Ministry of Defence (MoD), on 02 Feb 2026, succeeding Shri P Upadhyay, who superannuated on 31 Jan 2026.
• Shri Divakar Jayant belongs to the 1991 batch of the Indian Naval Armament Service (INAS) and joined the Naval Armament Organisation of the Indian Navy on 28 Dec 1992.
• He has held senior positions including Chief General Manager and General Manager/Principal Director at Naval Armament Depots in Mumbai, Visakhapatnam, and Alwaye, as well as at NHQ/MoD, during 33 years of service.
• An Electrical Engineering graduate from IIT Delhi, Shri Divakar Jayant specialises in life-cycle management of Torpedoes and planning of explosive infrastructure projects, with vast knowledge of HR and administration.
• The officer has also undergone the prestigious APPPA course (2017–18), enhancing his expertise in naval armament management.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Minister Rajnath Singh Grants Miniratna Category-I Status to Yantra India Limited

• Raksha Mantri Shri Rajnath Singh approved the grant of Miniratna (Category-I) status to Yantra India Limited (YIL), a Defence Public Sector Undertaking (DPSU).
• Yantra India Limited (YIL) successfully transformed from a Government organisation into a profit-making corporate entity within about four years.

Key Highlights :

• The Miniratna (Category-I) status was granted due to YIL’s efforts to increase turnover, maximise indigenisation, and meet key performance parameters.
• YIL sales grew significantly from ₹956.32 crore in FY 2021-22 (H2) to ₹3,108.79 crore in FY 2024-25.
• On the export front, YIL recorded growth from NIL exports in FY 2021-22 (H2) to ₹321.77 crore in FY 2024-25.
• Major products of YIL include Carbon Fibre Composites, Medium and Large Calibre Ammunition assemblies, Armoured Vehicle assemblies, Artillery Gun assemblies, Main Battle Tanks (MBTs), Glass Composites, and Aluminium Alloys.
• Miniratna (Category-I) status empowers the Board of Directors of YIL to incur capital expenditure up to ₹500 crore on new projects, modernisation, and equipment purchase without Government approval.
• The enhanced financial autonomy is expected to accelerate growth in defence production and exports.
• The Ordnance Factory Board (OFB) was corporatised into seven new DPSUs on 01 October 2021 to enhance functional autonomy, efficiency, and promote innovation and growth in the defence manufacturing sector.
• Yantra India Limited (YIL) is one of the seven newly formed Schedule ‘A’ DPSUs under the administrative control of the Department of Defence Production.
• In May 2025, Miniratna-I status was also approved for Munitions India Limited, Armoured Vehicles Nigam Limited, and India Optel Limited.
• The decision reflects the Government’s commitment to Aatmanirbhar Bharat by strengthening indigenous defence manufacturing, research, and strategic technologies.
• The move aligns with broader defence reforms aimed at reducing import dependence, promoting domestic defence production, encouraging Indian industry participation, and positioning India as a global defence manufacturing hub.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Japan Achieves World-First Recovery of Rare Earth Minerals from Deep-Sea Sediments

• Japan announced it had successfully recovered rare earth minerals from deep-sea sediments, marking a world-first achievement.
• The recovery was conducted by the deep-sea drilling vessel Chikyu, which retrieved sediments from a depth of nearly 6,000 metres near Minamitorishima Island.
• The initiative aims to reduce Japan’s dependence on China for rare earth elements and other critical minerals.
• The move is part of Japan’s broader strategy to build resilient and secure supply chains for critical minerals.
• Rare earths, comprising 17 metals difficult to extract from the Earth’s crust, are used in electric vehicles, hard drives, wind turbines, and missiles.

Recent News :

• In Jan 2026, Japan restarted Reactor No. 6 at the Kashiwazaki-Kariwa Nuclear Power Plant, marking a major step in its gradual return to nuclear energy.

About Japan:

• Capital: Tokyo
• Currency: Japanese Yen (JPY)
• Prime Minister: Shigeru Ishiba

New START, the Last Russia-U.S. Nuclear Arms Control Treaty, Set to Expire on February 5, 2026

• The last Russia-U.S. nuclear arms control treaty, known as New START, is due to expire on February 5, 2026.
• New START was signed in 2010 by U.S. President Barack Obama and Dmitry Medvedev, an ally of Vladimir Putin, who served a single term as Russia’s president.
• The treaty sets limits on strategic nuclear weapons, which are used to strike the opponent’s political, military, and industrial centres in the event of a nuclear war.
• It caps the number of deployed strategic warheads at 1,550 on each side, with no more than 700 deployed ground- or submarine-launched missiles and bomber planes, and 800 launchers.
• The treaty can be extended only once, which was done in 2021; therefore, no further formal extension is possible under existing provisions.
• Russia proposed an informal one-year adherence to warhead limits, but former U.S. President Donald Trump has not formally accepted it.
• If the treaty lapses without a replacement, it would end over 50 years of US-Russia nuclear arms constraints, increasing the risk of an unregulated arms race.
• Without a replacement deal, Russia and the U.S. would be free to expand missile numbers and deploy hundreds of additional strategic warheads.

Department of Science and Technology Scientists Develop Solar-Powered Device for Integrated Energy Capture and Storage

• Indian scientists at the Department of Science and Technology (DST) have developed a solar-powered energy storage device that can both capture and store energy in a single unit, marking a major step towards clean and self-sustaining power systems.
• The photo-rechargeable supercapacitor was developed by researchers at the Centre for Nano and Soft Matter Sciences (CNSMS), Bengaluru under DST, integrating energy harvesting and storage in a single device, unlike conventional systems.
• The innovation reduces energy losses, lowers costs, and minimizes system complexity, enabling efficient, low-cost, and eco-friendly power solutions for portable, wearable, and off-grid technologies.
• Conventional hybrid systems required additional power management electronics to regulate voltage and current mismatches between the energy harvester and storage unit, which increased device footprint and system complexity, particularly for miniaturized autonomous devices.
• The device uses binder-free nickel-cobalt oxide (NiCo₂O₄) nanowires, uniformly grown on nickel foam via a simple in situ hydrothermal process, forming a porous and conductive 3D network for simultaneous sunlight absorption and charge storage.
• Testing results showed a stable output voltage of 1.2 volts and 88% capacitance retention even after 1,000 photo-charging cycles, demonstrating strong mechanical and electrochemical stability.
• The device operates efficiently under varying sunlight conditions, from low indoor illumination to intense sunlight, indicating suitability for long-term real-world applications.
• The self-charging power system can function anywhere without access to electrical grids, significantly reducing dependence on fossil fuels and conventional batteries.
• By eliminating the need for complex power management electronics, the innovation offers a compact, efficient, and eco-friendly solution for next-generation autonomous devices and decentralized energy systems.

CURRENT AFFAIRS: MOUS AND AGREEMENT

IHMCL Signs MoU with National Forensic Sciences University to Strengthen Cyber Security in Highway Operations

• Indian Highways Management Company Limited (IHMCL) has signed a Memorandum of Understanding (MoU) with the National Forensic Sciences University (NFSU) to enhance cyber security and data protection in national highway operations.
• The agreement reflects the government’s increasing focus on securing digital infrastructure, as highway management systems become more technology-driven.
• The MoU is valid for a three-year period, enabling sustained collaboration between highway infrastructure managers and forensic experts.
• The MoU focuses on cyber forensics, digital evidence integrity, research, training, consultancy, and capacity building.
• Its objective is to protect sensitive highway-related data and ensure the secure functioning of digital platforms used in highway management.
• The collaboration aims to strengthen preparedness against cyber threats and digital disruptions affecting national highways.
• Modern highways generate and process large volumes of digital data, including vehicle movement records, toll payments, surveillance data, and traffic analytics.
• With the rollout of Multi-Lane Free Flow (MLFF) tolling, traditional toll booths are being replaced by fully digital tolling systems.
• Any cyber attack could lead to traffic disruption, compromise of user data, and revenue losses, making cyber security a national priority.
• The partnership covers key highway technologies such as MLFF tolling systems, Advanced Traffic Management Systems (ATMS), and secure digital data storage platforms.
• Integration of forensic expertise will support early detection of cyber incidents, secure handling of digital evidence, and faster response to cyber threats impacting highway operations.
• National Forensic Sciences University (NFSU) will provide expertise in cyber forensics, digital investigations, and data integrity management.

India–European Union Sign Administrative Arrangement on Advanced Electronic Signatures and Seals

• India and the European Union signed an important administrative arrangement to enable secure cross-border use of advanced electronic signatures and electronic seals.
• The agreement was signed between the Ministry of Electronics and Information Technology (MeitY) and the Directorate-General for Communications Networks, Content and Technology (DG CONNECT) of the European Commission.
• The arrangement was formally signed by the Secretary, MeitY, and the Director-General of DG CONNECT, indicating high-level institutional commitment from both sides.
• The agreement aims to boost cross-border digital trade, promote paperless transactions, and strengthen digital trust between India and the European Union.
• It establishes a cooperation framework on advanced electronic signatures, electronic seals, and Public Key Infrastructure (PKI) systems.
• The core objective is to ensure interoperability between India’s and the EU’s digital trust systems, while remaining fully aligned with their respective legal frameworks.
• In India, implementation will be carried out through the Controller of Certifying Authorities (CCA) under the Information Technology Act, 2000.
• Under the framework, trusted lists of recognized service providers from India and the EU will be linked.
• This will enable mutual validation of electronic signatures and seals issued in either jurisdiction.
• As a result, Indian exporters and EU businesses can digitally sign contracts, invoices, and compliance documents with legal validity, without physical paperwork.
• The arrangement will reduce transaction time, lower costs, minimize courier delays, and improve legal certainty in cross-border trade.
• The agreement is particularly significant for Micro, Small and Medium Enterprises (MSMEs), which often face high compliance costs and procedural delays in international trade.
• Trusted digital signatures will allow MSMEs to complete export documentation faster and with greater confidence.
• The move supports India’s broader goal of digitally empowering MSMEs and improving their access to European markets.
• The arrangement strengthens India–EU digital cooperation and aligns with global digital trust and trade standards.
• DG CONNECT is the European Commission body responsible for shaping Europe’s digital ecosystem, promoting digital innovation, artificial intelligence leadership, data-driven growth, digital infrastructure, and digital skills development.
• Overall, the pact marks a major step towards seamless, secure, and trusted global digital trade between India and the European Union.

CURRENT AFFAIRS: SPORTS NEWS

Devika Sihag Wins Maiden BWF Super 300 Title at Thailand Masters 2026

• Indian badminton player Devika Sihag won her first BWF Super 300 title at the Thailand Masters 2026, marking the biggest achievement of her career so far.
• The women’s singles final ended when Goh Jin Wei of Malaysia retired due to a hamstring injury. At the time of retirement, Devika Sihag was leading 21–8, 6–3.
• Devika displayed aggressive stroke play, strong net control, and mental composure, clearly dominating the final before it ended prematurely.
• This victory is Devika Sihag’s maiden Super 300-level title, a significant milestone as BWF Super 300 tournaments are part of the BWF World Tour and offer important ranking points and international exposure.
• Winning the Thailand Masters will boost her world ranking, confidence, and visibility, enabling her to compete more regularly in higher-tier tournaments such as Super 500 and Super 750 events.
• Goh Jin Wei, ranked World No. 68, is a two-time former World Junior Champion, making Devika’s dominant performance in the final even more notable despite the opponent’s retirement.
• Devika Sihag, a 20-year-old shuttler from Haryana, represents India’s emerging strength in women’s singles badminton beyond established players.

Haryana Thunders Win Pro Wrestling League (PWL) 2026 Title

• Haryana Thunders won the Pro Wrestling League (PWL) 2026 title after defeating Delhi Dangal Warriors by 5–4 in a thrilling final held at Noida Indoor Stadium.
• The PWL 2026 final was decided in the last bout, making it one of the most dramatic finals in league history.
• After eight bouts, the score was tied at 4–4, leading to a decisive final women’s match.
• The title-sealing bout was the women’s 62 kg category, where Iryna Koliadenko of Haryana Thunders clinched victory.
• Iryna Koliadenko, a Paris Olympics silver medallist, showcased technical superiority and composure under pressure to secure the winning point.
• Her win sealed a 5–4 victory for Haryana Thunders and became the defining moment of the final.
• The final highlighted the high competitiveness and growing popularity of league wrestling in India.
• Both teams exchanged wins throughout the contest, keeping momentum evenly balanced.
• Individual Performances in PWL 2026:
• Turan Bayramov (Delhi Dangal Warriors) was named Player of the Tournament, winning all seven bouts in the men’s 57 kg category and scoring 59 points.
• Chandermohan (Punjab Royals) emerged as the highest point scorer of the tournament.

Awards from the Grand Final:

• Player of the Match: Neha Sangwan (Haryana Thunders)
• Fighter of the Match: Ronak (Delhi Dangal Warriors, men’s 125 kg)
• Impact Player of the Match: Akshay Dhere (men’s 57 kg)
• Haryana Thunders’ victory crowned them PWL 2026 champions and marked the season as one of the most memorable editions of the Pro Wrestling League, underlining India’s rising strength in professional wrestling.

Asian Rifle & Pistol Shooting Championships 2026 Begin in New Delhi

• The Asian Rifle & Pistol Shooting Championships 2026 have officially begun at the Dr Karni Singh Shooting Ranges, New Delhi.
• The championship is being held over a two-week period and features elite shooters from 17 Asian countries.
• Athletes are competing in rifle and pistol events across senior, junior, and youth categories, covering men’s and women’s competitions.
• The Asian Rifle & Pistol Shooting Championships is one of the most prestigious shooting tournaments in Asia, bringing together the continent’s top shooters.
• The event serves as a key platform for testing skills, improving rankings, gaining international exposure, and identifying future Olympic and world-level contenders.
• The 2026 edition highlights the growing competitiveness of Asian shooting sports and the depth of talent across different age groups.
• Competitions are being conducted in 10 metre, 25 metre, and 50 metre rifle and pistol events.
• The championship includes individual events, team events, and mixed team formats, ensuring a comprehensive assessment of precision, consistency, and teamwork.
• Participation across men’s, women’s, junior, and youth categories ensures inclusivity and balanced representation of experienced shooters and emerging talent.
• The Dr Karni Singh Shooting Ranges is one of India’s premier shooting venues, known for hosting several national and international competitions.
• The facility offers world-class infrastructure, advanced shooting lanes, and modern technical support, meeting global competition standards.
• Hosting the championship at this venue reinforces India’s capability to organise major international sporting events and strengthens New Delhi’s position as a global shooting sports hub.
• Participation from 17 Asian nations reflects the wide popularity of shooting sports across Asia.
• The championship promotes sportsmanship, cultural exchange, and regional cooperation through competitive excellence.

CURRENT AFFAIRS: IMPORATNT DAYS

World Cancer Day 2026 Observed on 4 February

• World Cancer Day is observed every year on 4 February across the world.
• It is a global uniting initiative led by the Union for International Cancer Control (UICC).
• The World Cancer Day 2026 theme is “United by Unique”, highlighting people-centred cancer care.
• Cancer is the second leading cause of death globally.
• Cancer refers to the uncontrolled growth of a group of cells in the body.
• It can occur at any age, and if not detected early or treated properly, it significantly increases the risk of death.
• World Cancer Day aims to raise awareness, encourage prevention, promote early detection, and support effective treatment.
• The observance originated in 2000 during the first World Summit Against Cancer held in Paris.
• It was founded by the Union for International Cancer Control (UICC).
• The day supports the objectives of the World Cancer Declaration, which was written in 2008.
• The primary goal of World Cancer Day is to reduce illness and deaths caused by cancer worldwide.
• The day is observed globally with support from the World Health Organization (WHO) to spread awareness about cancer and its treatment.
• During the Paris summit, leaders of government agencies and cancer organisations from across the world signed the Charter of Paris Against Cancer.

Daily CA One- Liner: February 4

• Assam Chief Minister Himanta Biswa Sarma announced a ₹50 crore grant to preserve and restore the heritage of the Darrang kings of the Koch dynasty during Mahabir Chilarai Divas celebrations in Darrang district
• The National Statistics Office (NSO) has announced a nationwide Survey on Migration, scheduled to be conducted from July 2026 to June 2027
• Chief Minister N. Chandrababu Naidu launched Pilloo AI, a voice-based billing and accounting application in Andhra Pradesh
• A United Nations report (2025) states that around 45% of the global population lives in urban areas, a sharp rise from 20% in 1950
• Indian Highways Management Company Limited (IHMCL) has signed a Memorandum of Understanding (MoU) with the National Forensic Sciences University (NFSU) to enhance cyber security and data protection in national highway operations
• India and the European Union signed an important administrative arrangement to enable secure cross-border use of advanced electronic signatures and electronic seals
• Indian badminton player Devika Sihag won her first BWF Super 300 title at the Thailand Masters 2026, marking the biggest achievement of her career so far
• Haryana Thunders won the Pro Wrestling League (PWL) 2026 title after defeating Delhi Dangal Warriors by 5–4 in a thrilling final held at Noida Indoor Stadium
• The Asian Rifle & Pistol Shooting Championships 2026 have officially begun at the Dr Karni Singh Shooting Ranges, New Delhi.

• The Central Board of Indirect Taxes and Customs (CBIC) has notified the Baggage Rules, 2026, along with Customs Baggage (Declaration and Processing) Regulations, 2026 and a Master Circular to simplify international passenger clearance.
• The PSB Alliance Annual Strategy Meet 2026 was held in New Delhi, where the Secretary, Department of Financial Services (DFS) highlighted that PSB Alliance has evolved into a strategic partner by combining technology, data, and purpose to build an inclusive and innovative banking sector.
• The Union government plans to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session of Parliament beginning March 9, 2026.
• Central Bank of India (CBI), a leading Public Sector Bank (PSB), signed a distribution agreement with HSBC Asset Management (India) Private Limited to offer Mutual Fund (MF) products to its customers.
• Matrixport, a leading digital asset financial services platform, received In-Principle Approval (IPA) for its Bhutan-based entity Matrix Bhutan Pte Ltd from the Gelephu Financial Services Office (GFSO).
• The National Statistical Office (NSO) under the Ministry of Statistics & Programme Implementation (MoSPI) will launch two major national surveys—the National Household Income Survey (NHIS) and the Annual Survey of Incorporated Services Sector Enterprises (ASISSE)—from April 2026 to strengthen India’s statistical system.
• The Ministry of Statistics and Programme Implementation (MoSPI) has revised the Consumer Price Index (CPI) base year to 2024, reducing the weight of Food & Beverages from 45.86% to 36.75%.
• Shri Hari Shankar Verma, a 1987 batch Indian Railway Traffic Service (IRTS) officer, has assumed charge as Member (Operations and Business Development), Railway Board, and Ex-officio Secretary to the Government of India.
• Shri Divakar Jayant, INAS, took charge as Director General of Naval Armament (DGONA) at Naval Headquarters, Ministry of Defence (MoD), on 02 Feb 2026, succeeding Shri P Upadhyay, who superannuated on 31 Jan 2026.
• Raksha Mantri Shri Rajnath Singh approved the grant of Miniratna (Category-I) status to Yantra India Limited (YIL), a Defence Public Sector Undertaking (DPSU).
• Japan announced it had successfully recovered rare earth minerals from deep-sea sediments, marking a world-first achievement.
• The last Russia-U.S. nuclear arms control treaty, known as New START, is due to expire on February 5, 2026.
• Indian scientists at the Department of Science and Technology (DST) have developed a solar-powered energy storage device that can both capture and store energy in a single unit, marking a major step towards clean and self-sustaining power systems.
• World Cancer Day is observed every year on 4 February across the world.