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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India’s Gold Purchases Plunge to 4 Tonnes in 2025 from 73 Tonnes in 2024 Due to High Prices

• The Reserve Bank of India (RBI) bought only 4 tonnes of gold in 2025, significantly lower than 73 tonnes in 2024, mainly due to very high gold prices.
• In 2025, RBI's quarterly gold purchases were: 3.4 tonnes in Q1, 0.4 tonnes in Q2, 0.2 tonnes in Q3, and 0 tonnes in Q4, showing a sharp slowdown in buying.
• In comparison, RBI had purchased 16 tonnes in 2023 and 77 tonnes in 2021, making 2025 one of the lowest purchase years.
• According to the World Gold Council (WGC), global central banks bought a total of 328 tonnes of gold in 2025, slightly lower than 345 tonnes in 2024.
• Poland was the largest gold buyer in 2025, adding 102 tonnes, followed by Kazakhstan (57 tonnes) and Azerbaijan (53 tonnes).
• Other major buyers included Brazil (43 tonnes), China (27 tonnes), and Turkey (27 tonnes), showing continued interest in gold reserves worldwide.
• The largest net gold sellers in 2025 were Singapore (26 tonnes), Ghana (12 tonnes), and Russia (6 tonnes).
• In December 2025, central banks bought 19 tonnes, taking the full-year net purchases to 328 tonnes.
• China extended its monthly gold buying streak to 14 consecutive months, while countries like Kyrgyz Republic, Czech Republic, Mongolia, and Indonesia also added to their reserves.
• Singapore was the largest seller in December 2025, reducing reserves by 11 tonnes.

Recent News :

• In Jan 2026, The Reserve Bank of India (RBI) issued the Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 under FEMA, 1999, introducing uniform timelines and enhanced monitoring for trade-related foreign exchange transactions.

100% Foreign Direct Investment in Insurance Sector Allowed as Insurance Laws (Amendment) Act, 2025 Comes into Force from 5 February 2026

• The Insurance Laws (Amendment) Act, 2025 came into force on 5 February 2026, allowing 100% Foreign Direct Investment (FDI) in the insurance sector.
• The notification of the Act was issued by the Ministry of Finance, while Section 25 will be enforced later through a separate notification.
• Under the new Act, foreign companies can now fully own insurance companies in India, but top leadership positions such as Chairman, Managing Director, or CEO must be Indian citizens.
• The legislation amends three existing laws: Insurance Act, 1938, Life Insurance Corporation Act, 1956, and Insurance Regulatory and Development Authority Act, 1999.
• The FDI limit in insurance was earlier 26% initially, then 49% in 2015, 74% in 2021, and is now 100%.
• The Act allows merger of a non-insurance company with an insurance company.
• Prior regulatory approval for transfer of share capital by insurers has been increased from 1% to 5%.
• The Net Owned Fund (NOF) requirement for Foreign Reinsurance Branches has been reduced from ₹5,000 crore to ₹1,000 crore.
• LIC is granted autonomy to open Zonal offices in India and align foreign offices with laws and regulations.
• A dedicated Policyholders’ Education and Protection Fund will be set up to spread awareness and protect the interests of policyholders.
• The reform aims to attract more foreign capital, enhance competition, and boost insurance penetration, currently around 3.7% of India’s GDP.

About IRDAI :

• IRDAI (Insurance Regulatory and Development Authority of India) is a statutory body for protecting policyholders’ interests and regulating, promoting, and ensuring orderly growth of the insurance industry.
• Headquarters : Hyderabad
• Chairman : Ajay Seth

SBI Mutual Fund Launches InvesTap Nxt, AI-Powered Next-Generation Digital Investment Platform

• SBI Mutual Fund (SBIMF) launched InvesTap Nxt, a next-generation digital investment platform designed to make investing simpler and smarter.
• InvesTap Nxt is an AI-powered platform featuring a personal AI assistant that allows investors to ask questions, explore investment options, and track portfolios through conversational interactions.
• The platform integrates SBIMF’s SmartAssist, an AI-powered WhatsApp chat companion, into InvesTap Nxt for enhanced investment management.
• InvesTap Nxt uses advanced AI, conversational investment journeys, and Wealth Index via Account Aggregator (AA) integration to provide a personalised view of financial portfolios.
• The platform offers easy-to-understand insights, enabling users to access consolidated financial information across products and institutions within a secure, consent-based framework.
• The conversational interface of InvesTap Nxt interprets user intent, analyses portfolio data, and delivers timely insights aligned with individual financial goals.
• SBI Mutual Fund, incorporated in 1987, is an Indian private asset management company promoted by the State Bank of India, with its head office in Mumbai.

State Bank of India Secures $1 Billion Social Loan from Japan’s MUFG

• State Bank of India (SBI) raised a $1 billion (₹7,100 crore) social loan from Japan’s Mitsubishi UFJ Financial Group (MUFG).
• This is the first social loan raised by an Indian bank, marking a landmark deal in India’s banking and social finance space.
• The loan was raised through MUFG’s GIFT City (IFSC) branch, with MUFG as the sole lender, though it may be syndicated later.
• The loan has a five-year maturity and includes a green shoe option of $500 million, allowing SBI to raise additional funds if required.
• The interest rate on the loan is 90 basis points above the three-month SOFR (Secured Overnight Financing Rate), considered competitively priced compared to similar overseas borrowings.
• The funds will be used to support women-led enterprises and businesses owned or managed by women, promoting women’s economic empowerment and gender equality.

About State Bank of India (SBI):

• Founded Year: 1955
• Headquarters: Mumbai, Maharashtra, India
• Chairman: Challa Sreenivasulu Setty
• Slogan: "The Banker to Every Indian"

Axis Bank Introduces “Rooftop Solar Finance” to Support Micro, Small & Medium Enterprises in Adopting Solar Energy Systems

• Axis Bank launched “Rooftop Solar Finance”, a new financing product aimed at helping Micro, Small & Medium Enterprises (MSMEs) adopt solar energy systems on their commercial rooftops.
• The product offers collateral-free loans ranging from ₹10 lakhs to ₹2 crores, available through Axis Bank’s branch network across India.
• The repayment tenure is 4–7 years, providing flexible repayment options aligned with business cash flows.
• The financing supports solar adoption, enabling firms to install rooftop solar systems, reduce long-term energy costs, and lower dependence on grid electricity.
• Axis Bank has partnered with Original Equipment Manufacturers (OEMs) and a technology partner to ensure cost transparency for businesses.

About Axis Bank:

• Founded Year: 1993
• Headquarters: Mumbai, Maharashtra, India
• CEO: Amitabh Chaudhry
• Slogan: "Badhti Ka Naam Zindagi" (A Life of Progress)

Alwar Becomes First District in India to Attain Complete Insurance Coverage

• Alwar district in Rajasthan became the first district in India to achieve 100% insurance coverage under the “Insurance for All by 2047”
• The roadmap aligns with the vision of a ‘Secure India–Insured India’ at the grassroots level.
• The initiative is a joint effort of the Government of India (GoI) and the Insurance Regulatory and Development Authority of India (IRDAI), a statutory body under the Ministry of Finance.
• 1,367 previously uninsured people aged over 10 were brought under coverage through systematic door-to-door surveys, achieving full saturation in the district.
• Nine villages have been formally declared fully insured: Bhulla Ka Bas, Bichpuri, Palankheda, Antapada, Hanumanta, Kalyanpura, Morodkhurd, Kodalka, and Lalpur.
• The insurance policies were formally handed over to beneficiaries in a programme chaired by Additional District Collector Bina Mahawar.
• Premiums for all eligible adults in these villages were funded by a Non-Government Organization (NGO), ensuring coverage without financial burden.
• The insurance policies were issued by United India Insurance Company Limited (UIIC).

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Pariksha Pe Charcha 2026 Held at New Delhi

• Pariksha Pe Charcha (PPC) 2026, the 9th edition of the annual interaction programme, was held at Bharat Mandapam, New Delhi.
• Prime Minister Narendra Modi interacted with a record 4.5 crore students, teachers, and parents across the country.
• The programme focused on reducing exam stress, building confidence, nurturing curiosity, and promoting emotional well-being among students, popularly referred to as “exam warriors”.
• The Prime Minister urged students to treat examinations as milestones in life, not final judgments of their future.
• Pariksha Pe Charcha was launched in 2018 as an annual initiative.
• It enables the Prime Minister to directly engage with students, while also involving teachers and parents as key stakeholders.
• The programme aims to address exam-related anxiety, pressure, and fear of failure.
• It promotes a holistic education approach, encouraging learning, self-growth, and emotional balance, especially during board and competitive examination periods.
• PPC 2026 witnessed unprecedented participation.
• More than 4.19 crore students and 24.84 lakh teachers registered on the MyGov portal.
• This exceeded the previous Guinness World Record of 3.53 crore registrations.
• The event was telecast live on Doordarshan and streamed through digital and social media platforms, ensuring wide accessibility, including remote and rural areas.
• The large-scale participation highlighted the growing credibility of PPC as a national platform for student guidance.

NCDC Implements Yuva Sahakar Scheme and Swayamshakti Sahakar Yojana

• The National Cooperative Development Corporation (NCDC) is implementing Yuva Sahakar Scheme and Swayamshakti Sahakar Yojana to promote innovation, inclusivity, youth entrepreneurship, and women empowerment in India’s cooperative sector.
• Both schemes are fully funded by NCDC, a statutory body under the Ministry of Cooperation, and align with the Government of India’s vision of cooperative-led grassroots development and employment generation.
• NCDC provides financial assistance, institutional support, and capacity building to cooperatives across sectors such as agriculture, dairy, fisheries, handloom, cottage industries, and services, strengthening their economic viability.
• Yuva Sahakar Scheme aims to encourage newly formed and youth-led cooperative societies by supporting innovative and start-up-oriented ideas.
• Focuses on cooperatives facing initial capital constraints.
• Encourages locally relevant and sustainable business models.
• Provides financial assistance to help youth-driven cooperatives scale up and become economically self-reliant.
• Swayamshakti Sahakar Yojana focuses on financial inclusion and livelihood generation, especially for women and economically weaker sections.
• Supports women Self Help Groups (SHGs) through access to affordable bank credit.
• Promotes collective income-generating activities and women-led cooperative enterprises.
• Aims to enhance women’s participation in the economy and decision-making in cooperatives.
• Both schemes address key priorities such as youth employment, women empowerment, and strengthening cooperative-based economic models through collective ownership and sustainable growth.
• Details of financial assistance released under both schemes for FY 2022–23, 2023–24, and 2024–25 were shared in Parliament by Amit Shah, Union Minister for Home and Cooperation, in a written reply in the Rajya Sabha, highlighting the government’s commitment to transparent and cooperative-led development.

Karnataka Introduces Automatic Property Mutation System

• The Karnataka government announced the rollout of an automatic property mutation system to speed up land and property transactions and improve transparency in revenue administration.
• Property mutation refers to updating ownership details in land revenue records after transfer through sale, gift, inheritance, or other legal means.
• Mutation is essential for legal ownership, property tax assessment, and avoiding land disputes.
• Earlier, buyers had to apply separately for mutation after registration, causing delays and procedural hurdles.
• Under the existing manual system:
  • 7 days for registrable instruments
  • Up to 15 days for non-registrable cases
• Buyers filed a mutation application with the revenue department.
• A mandatory notice period applied:
• This often delayed updating of ownership records.
• Under the new automatic mutation system:
  • Separate mutation applications
  • Additional verification visits to revenue offices
• Ownership details will be updated automatically once property registration is completed at the sub-registrar’s office.
• Eliminates the need for:
• Direct digital linkage between property registration and land revenue records.
• The reform is integrated with Karnataka’s digital land records framework.
  • View Record of Rights, Tenancy and Crops (RTC)
  • Track mutation status online
• Platforms like the Bhoomi Portal already allow citizens to:
• Registration offices will now be digitally integrated with land record databases for real-time updates.

RECENT NEWS

• The Karnataka government has taken an important step to modernise land governance in the Kodagu region. Through a recent amendment to the land revenue law, the state aims to resolve long-pending documentation problems related to Jamma Bane lands.

About Karnataka:

• Capital: Bengaluru
• Chief Minister: Siddaramaiah
• Governor: Thaawarchand Gehlot
• National Parks: Bandipur National Park, Nagarhole National Park, Kudremukh National Park, Anshi (Kali) National Park, Bannerghatta National Park
• Wildlife Sanctuaries: Dandeli Wildlife Sanctuary, Bhadra Wildlife Sanctuary, Ranganathittu Bird Sanctuary, Brahmagiri Wildlife Sanctuary, Pushpagiri Wildlife Sanctuary, Cauvery Wildlife Sanctuary

Kerala Becomes First State to Announce Elderly Budget for FY27

• Kerala has become the first Indian state to announce a dedicated Elderly Budget in its Financial Year 2026–27 (FY27) State Budget, drawing national attention to ageing-related policy challenges.
• The Elderly Budget was announced by Kerala Finance Minister K. N. Balagopal as part of the FY27 Budget, making it the first-ever separate budget statement for senior citizens in India.
• An Elderly Budget is a policy tool that consolidates all government expenditure related to senior citizens into a single statement, including pensions, healthcare, social security, and welfare schemes.
• While it does not necessarily imply additional spending, it improves transparency, helps assess the fiscal impact of an ageing population, and supports long-term planning, a practice increasingly used by countries undergoing demographic transition.
• The total allocation under Kerala’s Elderly Budget is ₹46,236.52 crore, which accounts for 19.07% of the state’s total Budget size.
• A major feature of the allocation is that nearly 68% of the total amount is spent on pensions for retired government employees.
• These pension payments are statutory obligations and would have been incurred even without a separate Elderly Budget, leading to debate over whether the move introduces new welfare measures or largely repackages existing expenditure.
• The Kerala government has clarified that presenting elderly-related spending separately helps citizens and policymakers clearly understand the scale of expenditure on the ageing population.
• The Elderly Budget reflects Kerala’s rapid demographic ageing, with the elderly population projected to increase by 47% between 2011 and 2026, compared to the all-India growth rate of 36%.
• Since 2011, Kerala’s share of elderly population has consistently remained 4–8 percentage points higher than the national average.
• This ageing trend is driven by low fertility rates, high life expectancy, and improved healthcare, making ageing a long-term policy challenge for the state.
• The Elderly Budget also highlights growing fiscal pressure, as increasing numbers of senior citizens lead to rising pension and healthcare costs.
• With a significant portion of expenditure tied to mandatory pension payments, the state has limited fiscal flexibility to introduce new elderly-focused schemes.
• Experts view the Elderly Budget as a data-driven step that exposes the scale of future liabilities and signals the need for pension reforms, expansion of elderly healthcare services, and community-based care models.
• Beyond Kerala, the initiative is significant for other Indian states, many of which are also moving toward an ageing society, though at a slower pace.
• Kerala’s model may encourage states to track elderly-related expenditure separately, supporting evidence-based policymaking, better targeting of welfare schemes, and long-term fiscal and social planning, making it highly relevant for exam preparation and policy debates.

RECENT NEWS

• Kerala has taken a unique and science-driven step by officially recognizing a microorganism as part of its state identity. In a first-of-its-kind initiative in India, the State government has highlighted the importance of microbes in everyday life, ranging from human health to agriculture and environmental sustainability.

About Kerala:

• Chief Minister: Pinarayi Vijayan
• Governor: Rajendra Vishwanath Arlekar 
• Capital: Thiruvananthapuram
• National Parks: Eravikulam National Park, Periyar Wildlife Sanctuary, Silent Valley National Park, Parambikulam Tiger Reserve
• Wildlife Sanctuaries: Wayanad Wildlife Sanctuary, Idukki Wildlife Sanctuary, Chilika Lake Wildlife Sanctuary

Amit Shah Launches Bharat Taxi, India’s First Cooperative-Based Ride-Hailing Platform

• Union Minister of Home Affairs and Cooperation Amit Shah launched Bharat Taxi, India’s first cooperative-based ride-hailing platform, at Vigyan Bhavan, New Delhi.
• The initiative is aligned with the Government of India’s vision of “Sahkar se Samriddhi”, which focuses on prosperity through cooperation, and aims to strengthen the cooperative sector while promoting inclusive and citizen-centric mobility solutions.
• Bharat Taxi was conceptualised by the Ministry of Cooperation to address issues faced by drivers on aggregator-based platforms such as high commissions, surge pricing pressure, and lack of social security.
• Bharat Taxi is registered under the Multi-State Cooperative Societies Act, 2002 and was formally established on 6 June 2025.
• It is designed as an indigenous, driver-owned and driver-centric alternative to foreign investment-based ride-hailing platforms, focusing on fairness, transparency, and shared prosperity.
• A key feature is its zero-commission and surge-free pricing model, where drivers, known as Sarathis, do not pay commission per ride, and profits are directly distributed to drivers.
• The platform follows the principle “Sarathi Hi Malik”, placing drivers at the centre of ownership, operations, and value creation, while allowing them the freedom to work on other platforms without exclusivity restrictions.
• During the launch, the top six performing Sarathis were honoured and given share certificates, reinforcing their ownership rights.
• Each honoured Sarathi received ₹5 lakh personal accident insurance and ₹5 lakh family health insurance.
• Nine Memorandum of Understanding (MoUs) were exchanged with public and private stakeholders to enhance digital integration, safety, service delivery, and operational efficiency.
• Bharat Taxi provides strong social security and welfare measures, including health insurance, accident insurance, retirement savings support, and dedicated driver support systems.
• Support centres are operational at seven locations in Delhi, offering emergency assistance, verified ride data, and grievance redressal.
• Women empowerment is promoted through the “Bike Didi” initiative, under which over 150 women drivers have joined the platform.
• Since inception, Bharat Taxi has emerged as the world’s first and largest cooperative-based ride-hailing platform and the largest driver-owned mobility platform globally.
• Current reach includes around 4 lakh drivers onboarded, over 10 lakh registered users, and nearly ₹10 crore directly distributed to drivers, indicating growing trust in the cooperative-based model.

RECENT NEWS

• Union Home Minister Amit Shah inaugurated the National Improvised Explosive Device Data Management System (NIDMS). This is India’s first platform that records details of all bomb blasts in the country from 1999. The system will help police and security agencies investigate terrorist incidents more effectively

CURRENT AFFAIRS: AWARDS AND HONOURS

Queen Mother of Bhutan Honoured with 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025

• Gyalyum Ashi Dorji Wangmo Wangchuck, Queen Mother of Bhutan, was conferred the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025.
• The award ceremony was held in February 2026 at Bodoland University, Kokrajhar, Assam.
• The event was attended by Lakshman Prasad Acharya, Governor of Assam.
• The award recognised her lifelong humanitarian service, compassionate leadership, social development efforts, and cultural preservation work.
• The Upendra Nath Brahma ‘Soldier of Humanity’ Award was instituted in 2004 by the Upendra Nath Brahma Trust.
• The award is named after Upendra Nath Brahma (Bodofa), a revered Bodo leader and social reformer.
• The award upholds the ideals of sacrifice, courage, social justice, peace, and service to humanity.
• It is conferred on individuals with outstanding contributions to human welfare, peace, and inclusive development.
• During the ceremony, the Governor of Assam highlighted the relevance of Bodofa’s philosophy in contemporary society.
• He also referred to the Assam Government’s decision to declare 31 March as Chatra Divas (Students’ Day) in honour of Upendra Nath Brahma, to inspire students and youth.
• The award presented to the Queen Mother included:
• Citation
• Memento of Bodofa Upendra Nath Brahma
• Traditional Bodo Aronai
• Dokhna, Gwmgra, and Endi Sadar
• Cash prize of ₹2 lakh
• She was honoured particularly for her leadership of the Tarayana Foundation, which has contributed to:
• Rural development
• Women’s empowerment
• Education and healthcare initiatives
• Preservation of Bhutan’s cultural heritage
• Her initiatives have significantly benefited vulnerable communities, women, and children in remote and rural regions of Bhutan.
• The award reflects shared humanitarian and cultural values between India and Bhutan.
• It underscores the importance of people-centric development, compassion, and inclusive growth.
• The recognition further strengthens India–Bhutan relations, based on mutual respect, cultural ties, and cooperation in social development.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India–GCC Sign Terms of Reference for Free Trade Agreement

• India and the Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) for the India–GCC Free Trade Agreement (FTA) at Vanijya Bhawan, New Delhi, formally initiating FTA negotiations.
• The ToR was signed by Ajay Bhadoo (India) and Raja Al Marzouqi (GCC) in the presence of Union Minister of Commerce and Industry Piyush Goyal, Minister of State Jitin Prasada, and Chief Negotiator Rajesh Agrawal.
• The Terms of Reference define the scope, structure, objectives, and negotiation framework of the India–GCC FTA, ensuring clarity, predictability, and transparency during negotiations and helping avoid disputes at later stages.
• The India–GCC FTA aims to create a balanced and mutually beneficial trade framework, especially important amid global trade uncertainty and supply chain disruptions.
• The GCC is one of India’s largest trading partners. In FY 2024–25, India–GCC trade stood at USD 178.56 billion, accounting for 15.42% of India’s total global trade.
• During FY 2024–25, India’s exports to GCC were USD 56.87 billion, while imports were USD 121.68 billion, highlighting the strategic importance of the region for India.
• Over the last five years, India–GCC trade has grown at an average annual rate of 15.3%, and the FTA is expected to further accelerate trade growth by reducing tariffs and improving market access.
• Key Indian exports to GCC include engineering goods, rice, textiles, machinery, and gems and jewellery.
• Key Indian imports from GCC include crude oil, liquefied natural gas (LNG), petrochemicals, and gold, making the agreement crucial for India’s energy security.
• The FTA is expected to expand cooperation beyond goods into services, logistics, digital trade, and investment, strengthening long-term economic integration.
• GCC countries have invested over USD 31.14 billion in India till September 2025, and the FTA is expected to boost foreign direct investment, employment generation, and food and energy security.
• The GCC region has a combined GDP of about USD 2.3 trillion and a population of around 61.5 million, enhancing its economic and strategic relevance for India.
• Nearly 10 million Indians live and work in GCC countries, reinforcing strong people-to-people ties and adding to the strategic importance of the India–GCC FTA.
• The Gulf Cooperation Council (GCC) was established in 1981 as a regional political and economic alliance comprising Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates, with headquarters in Riyadh, Saudi Arabia.
• The India–GCC FTA aligns with India’s broader global trade strategy, aimed at diversifying markets, securing energy supplies, strengthening strategic partnerships, and enhancing India’s role in global value chains, making it highly relevant for competitive exams.

CURRENT AFFAIRS : DEFENCE NEWS

Sagar Defence Delivers First Batch of Unmanned Surface Vessels to Indian Navy

• Sagar Defence Engineering Private Limited (Sagar Defence), based in Mumbai, Maharashtra, successfully delivered the first two Unmanned Surface Vessels (USVs) to the Indian Navy (IN), marking its maiden batch delivery.
• The USVs are designed for high-speed autonomous operations with advanced payloads and feature Artificial Intelligence (AI)-driven navigation and real-time communication systems.
• The vessels can exceed 50 knots and incorporate stealth features to reduce radar signature.
• In terms of combat capability, the interceptor craft is equipped with a 7 mm gun and has provisions for short-range missiles and loitering munitions.
• The USVs can counter small hostile boats, intercept fast targets, and conduct precision strikes, combining patrol and offensive roles.
• The platforms offer multi-mission capabilities including maritime surveillance, reconnaissance, and support to anti-submarine warfare (ASW)
• The vessels are built with over 70% indigenous content, highlighting India’s growing defence manufacturing capability.
• A contract for 12 USVs was signed between the Indian Navy and Sagar Defence on 8 January 2023 under the indigenous autonomous boat swarm programme.
• The delivery aligns with the Government of India’s Atmanirbhar Bharat initiative, promoting self-reliance in defence technology.

Defence Minister Rajnath Singh Flags Off Joint Indian Expedition to Mount Aconcagua, Argentina – Tallest Peak Outside Asia

• Union Defence Minister Rajnath Singh flagged off a joint Indian mountaineering expedition to Mount Aconcagua, Argentina, the highest peak in South America and the tallest mountain outside Asia at about 6,960 metres (m), from New Delhi, Delhi.
• The expedition is organized by Nehru Institute of Mountaineering (NIM), Uttarkashi, Uttarakhand, in collaboration with Jawahar Institute of Mountaineering & Winter Sports (JIM & WS), Pahalgam, Jammu & Kashmir (J&K).
• The Indian mountaineering team comprises six members, led by Colonel Hem Chandra Singh, Principal of NIM.
• Other team members include Capt G. Santhosh Kumar, Deep Bahadur Sahi, Vinod Gusain, Naib Subedar Bhupinder Singh, and Havildar Ramesh Kumar.
• The expedition is scheduled to begin on 6 February 2026 and is expected to conclude by the end of February 2026.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Bharat Earth Movers Limited Signs Tripartite Master Research Agreement to Boost Collaborative Research Initiatives

• Bharat Earth Movers Limited (BEML), a Public Sector Undertaking (PSU) under the Ministry of Defence (MoD), signed a Tripartite Master Research Agreement (MRA) to strengthen research collaboration.
• The agreement was signed with the Indian Institute of Science (IISc), Bengaluru and the Foundation for Science, Innovation and Development (FSID), the innovation arm of IISc.
• Signatories to the MRA included Shantanu Roy (CMD, BEML Limited), Govindan Rangarajan (Director, IISc), and B.Gurumoorthy (Director, FSID).
• The purpose of the agreement is to jointly promote next-generation research and technology development across critical sectors.
• The partnership will accelerate blue-sky research, applied research, and translational research in high-technology domains.
• Focus areas include aerospace and defence technologies, rail and metro systems, next-generation mobility, mining and construction equipment, maritime technologies, green technologies and sustainability, and advanced manufacturing systems.
• BEML has committed substantial investments in Research & Development (R&D) to support and sustain the collaborative innovation programmes under this initiative.

About Bharat Earth Movers Limited :

• Founded : May 1964
• Headquarters : Bangalore, Karnataka, India
• Chairman & MD : Shantanu Roy
• Owner : Government of India (54.03%)

Digantara Signs Pact with Singapore’s Defence Science and Technology Agency to Develop Satellite Protection and Space Situational Awareness Technologies

• Digantara Industries, a space technology firm based in Bengaluru, Karnataka, signed a partnership agreement with Singapore’s Defence Science and Technology Agency (DSTA) to co-develop technologies for satellite protection and Space Situational Awareness (SSA).
• The agreement was announced at the Space Summit 2026 held in Singapore, marking a significant step in India–Singapore space defence collaboration.

Key Highlights :

• This is the first formal partnership between Singapore’s defence research agency and an Indian space technology company.
• The pact aims to develop advanced SSA tools to monitor orbital traffic and track space debris that could threaten operational satellites.
• SSA systems help detect, track, and predict movement of satellites and debris, enabling collision risk assessment and early warning alerts.
• Under the agreement, tools will support Singapore’s National Space Agency in strengthening space domain awareness
• Digantara will provide sovereign deployable solutions, allowing Singapore to independently operate and manage SSA systems within its own infrastructure.
• The partnership includes flight dynamics services and conjunction screening, which identify close approaches between satellites and debris.
• Collision avoidance alerts will be generated to help satellite operators take preventive manoeuvres when risks are detected.
• The tools will be used for routine orbital monitoring as well as specific high-risk debris events.
• The collaboration integrates Digantara’s sensor data with Artificial Intelligence (AI)-based analytics for enhanced tracking accuracy.
• Singapore will participate in assembly, integration, and testing of Digantara’s upcoming space-based SSA sensor.
• The planned sensor will contribute to real-time satellite and debris tracking data for Singapore’s monitoring systems.
• Overall, the agreement strengthens international cooperation in space safety, satellite security, and debris collision prevention

Adani Defence Signs Memorandum of Understanding with Leonardo to Develop Helicopter Manufacturing Ecosystem in India

• Adani Defence & Aerospace, the defence arm of Adani Enterprises Limited (AEL), signed a Memorandum of Understanding (MoU) with Leonardo, an Italian aerospace, defence and security company.
• The partnership aims to develop a fully integrated helicopter manufacturing ecosystem in India.
• The MoU was signed by Ashish Rajvanshi (CEO, Adani Defence & Aerospace) and Stefano Villanti (SVP – Helicopters, Leonardo).
• The signing took place in the presence of Rajesh Kumar Singh (Defence Secretary) and Anbarasu (Director General – Acquisition, Ministry of Defence).
• The agreement covers manufacturing and assembly of helicopter platforms in India.
• It also includes setting up Maintenance, Repair and Overhaul (MRO) facilities to support lifecycle services.
• The partnership will establish pilot training infrastructure to strengthen domestic operational capabilities.
• It provides for phased indigenisation of helicopter components and systems over time.
• The collaboration will focus on Leonardo’s helicopter platforms — AW169M and AW109 TrekkerM.
• The initiative aligns with the Government of India’s flagship programmes “Make in India” and “Aatmanirbhar Bharat”, promoting self-reliance in defence manufacturing.

Australia Approves Genetically Modified (GM) Purple Bliss Tomatoes for Direct Sale in Shops

• Australia has approved Genetically Modified (GM) Purple Bliss tomatoes for fresh sale, allowing them to be sold directly in shops.
• The Purple Bliss tomatoes were developed by Norfolk Healthy Produce and derive their purple colour from snapdragon flower genes.
• In January 2026, Food Standards Australia New Zealand (FSANZ) approved the tomatoes for sale as fresh fruit and for use in processed foods like tomato pastes and sun-dried tomatoes.
• Purple Bliss tomatoes are the second GM fresh food approved in Australia; the first being a GM banana, which is not yet available in markets.
• Genetically Modified (GM) crops are plants whose DNA has been modified using genetic engineering methods for agricultural purposes.
• GM crops were first introduced in the USA in 1994 with the Flavr Savr tomato.
• An array of GM crops such as brinjal, tomato, maize, and chickpea are in various stages of trials in India.
• India is one of the leading producers of GM crops in the world.
• Bt-Cotton is the only approved GM crop for commercial cultivation in India, introduced in 2002.

About Australia :

• Prime Minister : Anthony Albanese
• Capital : Canberra
• Currency : Australian dollar ($)

Indian Researchers Develop Affordable Biosensor for Early Detection of Heart Attacks

• Researchers have developed a flexible and economical biosensor capable of rapidly detecting myoglobin, a critical cardiac biomarker linked to the early stages of a heart attack.
• The innovation is expected to significantly improve early diagnosis, particularly in resource-limited healthcare settings, by enabling faster and more accessible cardiac screening.
• The biosensor was developed by doctoral researcher Mohsina Afrooz through a joint programme between BITS Pilani Hyderabad and RMIT University, strengthening Indo-Australian cooperation in advanced healthcare technologies.
• The graphene-based sensor detects myoglobin, a protein released into the bloodstream soon after cardiac muscle injury, allowing physicians to diagnose cardiac events earlier than conventional methods.
• Rapid detection of myoglobin is crucial for timely medical intervention and improved patient outcomes.
• The biosensor is lightweight, flexible, low-cost, and suitable for portable and point-of-care testing, making it ideal for rural hospitals, emergency care units, and low-resource health facilities.
• An Indian patent has been filed for the technology, demonstrating its potential for real-world deployment.
• The research aims to make heart attack detection faster, simpler, and scalable.
• The findings have been published in the international journal “IEEE Sensors Letters”, highlighting the scientific credibility and translational promise of the innovation.

CURRENT AFFAIRS : APPS & PORTALS

National Biodiversity Authority Launches Digital Portal for Electronic Certificates of Origin for Cultivated Medicinal Plants

• The National Biodiversity Authority (NBA), a statutory body under the Ministry of Environment, Forest and Climate Change (MoEFCC), has launched a digital portal for the electronic issuance of Certificates of Origin (CoO) for cultivated medicinal plants.
• The portal provides a single-window, end-to-end online system for submission, processing, and issuance of CoO, including automated Form 12 generation for eligible stakeholders.
• The portal supports Access and Benefit Sharing (ABS) exemption applications for cultivated medicinal plants, simplifying compliance for research institutions, AYUSH sector entities, and seed sector stakeholders.
• The Biological Diversity (Amendment) Act, 2023 was enacted by Parliament, passed by Lok Sabha on 25 July 2023 and Rajya Sabha on 1 August 2023, and operationalised through MoEFCC notifications in 2024–2025.
• The digital CoO portal implements provisions under the Biological Diversity Rules, 2024–2025, enabling electronic generation of Certificates of Origin for cultivated medicinal plants.
• The NBA, established in 2003 under the Biological Diversity Act, 2002, functions through the Authority, Secretariat, State Biodiversity Boards (SBBs), Biodiversity Management Committees (BMCs), and Expert Committees.
• The portal can be accessed at https://absefiling.nbaindia.in/, providing stakeholders with transparent and streamlined access to certificates required for ABS exemptions.

CURRENT AFFAIRS: SPORTS NEWS

Royal Challengers Bengaluru Clinch Back-to-Back WPL Titles in 2026

• Royal Challengers Bengaluru (RCB) won the Women’s Premier League (WPL) 2026 title, defeating Delhi Capitals (DC) by 6 wickets in the final held at Vadodara.
• RCB successfully chased a record target of 204 runs, the highest successful run chase in WPL history and the highest chase in any women’s T20 final.
• Batting first, Delhi Capitals scored 203/4, the second-highest first-innings total in a women’s T20 final.
• Jemimah Rodrigues scored 57 runs.
• Laura Wolvaardt contributed 44 runs.
• RCB’s chase suffered an early setback at 9/1, after which Smriti Mandhana and Georgia Voll produced a match-winning partnership.
• The Mandhana–Voll partnership added 165 runs off 92 balls, the highest partnership for any wicket in WPL history, completely changing the momentum of the final.
• Georgia Voll scored 79 runs, while Smriti Mandhana smashed 87 runs off 41 balls, including 12 fours and 3 sixes.
• Despite late wickets of Georgia Voll, Richa Ghosh, and Smriti Mandhana, RCB held their nerve to finish the chase in the final over, sealing a dramatic victory.
• Smriti Mandhana was named Player of the Match for her decisive knock that anchored the historic chase under pressure.
• With this victory, RCB lifted their second WPL title, winning back-to-back championships (2024 and 2026), while Delhi Capitals lost their fourth WPL final.
• Prize Money (WPL 2026):
• Winner: Royal Challengers Bengaluru – ₹6 crore
• Runner-up: Delhi Capitals – ₹3 crore
• Individual Awards:
• Orange Cap (Most Runs): Smriti Mandhana – ₹5 lakh
• Purple Cap (Most Wickets): Sophie Devine – ₹5 lakh
• Most Valuable Player (MVP): Sophie Devine – ₹5 lakh
• Emerging Player: Nandini Sharma – ₹5 lakh
• WPL Winners So Far:
• 2023 – Mumbai Indians (Runner-up: Delhi Capitals)
• 2024 – Royal Challengers Bengaluru (Runner-up: Delhi Capitals)
• 2025 – Mumbai Indians (Runner-up: Delhi Capitals)
• 2026 – Royal Challengers Bengaluru (Runner-up: Delhi Capitals)
• Across four WPL seasons, only Mumbai Indians and Royal Challengers Bengaluru have won the title, underlining their dominance and the continued runner-up finish pattern of Delhi Capitals.

CURRENT AFFAIRS: IMPORTANT DAYS

World Interfaith Harmony Week (WIHW) 2026 Observed from 1–7 February

• World Interfaith Harmony Week (WIHW) 2026 is being observed globally from 1 February to 7 February 2026 under the leadership of the United Nations (UN).
• The observance aims to promote peace, tolerance, non-violence, dialogue, and mutual understanding among people of different religions and beliefs, especially in a world facing conflict, division, and religious intolerance.
• The concept of WIHW is rooted in the “A Common Word” initiative (2007), which brought together Muslim and Christian leaders.
• The initiative highlighted shared ethical values such as love for God and love for one’s neighbour.
• It emphasized that common moral principles can act as a foundation for peaceful coexistence among faiths.
• Growing global concerns over religious intolerance and violence led to the idea of dedicating a specific global week to interfaith harmony.
• The proposal for observing World Interfaith Harmony Week was presented at the 65th session of the United Nations General Assembly (UNGA) on 23 September 2010.
• The proposal was put forward by:
• Abdullah II, King of Jordan
• Ghazi bin Muhammad, Prince of Jordan
• They urged the international community to recognize the importance of interfaith cooperation for building lasting peace and reducing religious conflict.
• On 20 October 2010, the United Nations officially adopted the proposal through Resolution A/RES/65/5.
• The resolution designated 1–7 February every year as World Interfaith Harmony Week.
• The first World Interfaith Harmony Week was observed from 1–7 February 2011.

Daily CA One- Liner: February 7^th

• Pariksha Pe Charcha (PPC) 2026, the 9th edition of the annual interaction programme, was held at Bharat Mandapam, New Delhi.
• The National Cooperative Development Corporation (NCDC) is implementing Yuva Sahakar Scheme and Swayamshakti Sahakar Yojana to promote innovation, inclusivity, youth entrepreneurship, and women empowerment in India’s cooperative sector.
• The Karnataka government announced the rollout of an automatic property mutation system to speed up land and property transactions and improve transparency in revenue administration
• Kerala has become the first Indian state to announce a dedicated Elderly Budget in its Financial Year 2026–27 (FY27) State Budget, drawing national attention to ageing-related policy challenges
• Union Minister of Home Affairs and Cooperation Amit Shah launched Bharat Taxi, India’s first cooperative-based ride-hailing platform, at Vigyan Bhavan, New Delhi
• Gyalyum Ashi Dorji Wangmo Wangchuck, Queen Mother of Bhutan, was conferred the 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025
• India and the Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) for the India–GCC Free Trade Agreement (FTA) at Vanijya Bhawan, New Delhi, formally initiating FTA negotiations
• Royal Challengers Bengaluru (RCB) won the Women’s Premier League (WPL) 2026 title, defeating Delhi Capitals (DC) by 6 wickets in the final held at Vadodara
• The Reserve Bank of India (RBI) bought only 4 tonnes of gold in 2025, significantly lower than 73 tonnes in 2024, mainly due to very high gold prices.
• The Insurance Laws (Amendment) Act, 2025 came into force on 5 February 2026, allowing 100% Foreign Direct Investment (FDI) in the insurance sector.
• SBI Mutual Fund (SBIMF) launched InvesTap Nxt, a next-generation digital investment platform designed to make investing simpler and smarter.
• State Bank of India (SBI) raised a $1 billion (₹7,100 crore) social loan from Japan’s Mitsubishi UFJ Financial Group (MUFG).
• Axis Bank launched “Rooftop Solar Finance”, a new financing product aimed at helping Micro, Small & Medium Enterprises (MSMEs) adopt solar energy systems on their commercial rooftops.
• Alwar district in Rajasthan became the first district in India to achieve 100% insurance coverage under the “Insurance for All by 2047”
• Sagar Defence Engineering Private Limited (Sagar Defence), based in Mumbai, Maharashtra, successfully delivered the first two Unmanned Surface Vessels (USVs) to the Indian Navy (IN), marking its maiden batch delivery.
• Union Defence Minister Rajnath Singh flagged off a joint Indian mountaineering expedition to Mount Aconcagua, Argentina, the highest peak in South America and the tallest mountain outside Asia at about 6,960 metres (m), from New Delhi, Delhi.
• Bharat Earth Movers Limited (BEML), a Public Sector Undertaking (PSU) under the Ministry of Defence (MoD), signed a Tripartite Master Research Agreement (MRA) to strengthen research collaboration.
• Digantara Industries, a space technology firm based in Bengaluru, Karnataka, signed a partnership agreement with Singapore’s Defence Science and Technology Agency (DSTA) to co-develop technologies for satellite protection and Space Situational Awareness (SSA).
• Adani Defence & Aerospace, the defence arm of Adani Enterprises Limited (AEL), signed a Memorandum of Understanding (MoU) with Leonardo, an Italian aerospace, defence and security company.
• Australia has approved Genetically Modified (GM) Purple Bliss tomatoes for fresh sale, allowing them to be sold directly in shops.
• Researchers have developed a flexible and economical biosensor capable of rapidly detecting myoglobin, a critical cardiac biomarker linked to the early stages of a heart attack.
• The National Biodiversity Authority (NBA), a statutory body under the Ministry of Environment, Forest and Climate Change (MoEFCC), has launched a digital portal for the electronic issuance of Certificates of Origin (CoO) for cultivated medicinal plants.
• World Interfaith Harmony Week (WIHW) 2026 is being observed globally from 1 February to 7 February 2026 under the leadership of the United Nations