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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Federal Bank Launches ‘Fed Wealth’ Platform to Strengthen Presence in Wealth Management Segment

• Federal Bank has launched a new wealth management platform named ‘Fed Wealth’ to expand its presence in the wealth management segment.
• The bank inaugurated its first Wealth Hub in Kochi, providing specialized investment services and a premium client environment.
• Fed Wealth platform offers a curated suite of investment solutions including fixed income products, equities, mutual funds, alternative investments, and opportunities through GIFT City.
• Federal Bank has restructured its existing partnership with Equirus Capital Private Limited to enhance product offerings and service architecture for affluent and UHNI clients.
• Clients using the existing Equirus arrangement will continue without disruption, ensuring continuity of wealth management services.
• The wealth management business will be led by Virendra Somwanshi, an experienced professional in building and scaling wealth management franchises.
• Federal Bank holds 8.69% stake in Equirus, and the collaboration will continue to cater to UHNI customer investment needs.
• Equirus Capital is a full-service financial firm specializing in investment banking, institutional securities, wealth and asset management, HNI broking, NBFC, and insurance solutions.

About Federal Bank:

• Founded: 1931
• Headquarters: Aluva, Kerala, India
• Managing Director & CEO: KVS Manian
• Tagline: "Your Perfect Banking Partner"

AU Small Finance Bank Allowed to Transition into Universal Bank Without NOFHC Requirement by Reserve Bank of India

• The Reserve Bank of India (RBI) has modified a key condition for AU Small Finance Bank’s transition into a universal bank, relaxing the earlier requirement related to Non-Operative Financial Holding Company (NOFHC).
• Earlier, RBI required that promoter and promoter group shareholding be held through a NOFHC under the proposed universal bank structure.
• Under the revised condition, the NOFHC requirement will apply only if the bank or its promoters establish any additional group financial services entity in the future.
• AU Small Finance Bank had received in-principle approval from RBI on 7 August 2025 to convert from a small finance bank (SFB) into a universal bank.
• The in-principle approval is valid for 18 months, within which the bank must meet all regulatory conditions for the transition.
• Sanjay Agarwal, Founder, Managing Director (MD), and CEO of AU Small Finance Bank, is the key promoter involved in this transition.
• Currently, the bank’s promoters, including Sanjay Agarwal and family, along with Mys Holdings, own nearly 23% stake in the bank.
• RBI has clarified that the NOFHC requirement will be applicable in the future only if the bank or promoter proposes to establish any group entity.
• AU SFB is the first small finance bank to receive RBI’s in-principle approval for conversion into a universal bank.
• The bank will submit its application for the final Universal Banking license in line with RBI’s guidance, and the grant of the final license will depend on compliance with regulatory guidelines.
• This modification allows AU Small Finance Bank to transition into a universal bank without immediately restructuring promoter shareholding through NOFHC.

National Bank for Agriculture and Rural Development, Gates Foundation & Dalberg Advisors Initiate National Climate Stack Innovation Challenge for Rural Climate Resilience

• National Bank for Agriculture and Rural Development (NABARD) launched the “National Climate Stack Innovation Challenge” in collaboration with Gates Foundation and Dalberg Advisors to strengthen climate intelligence and resilience in rural India.
• The main objective of the initiative is to build the foundational layers of a National Climate Stack to support agriculture, rural finance, and public planning with decision-ready climate data.
• The project is anchored in DiCRA (Data in Climate Resilient Agriculture), NABARD’s climate data platform, which is being transformed from a Digital Public Good into a Digital Public Infrastructure.
• The National Climate Stack aims to integrate fragmented climate datasets and create interoperable climate intelligence systems for better forecasting, planning, and climate resilience architecture in rural India.
• The competition is open to India’s innovation ecosystem, including technology startups, research institutions, universities, and scientific communities.
• Cash prizes will be awarded to the top three solutions: ₹15 lakh (1st Prize), ₹10 lakh (2nd Prize), and ₹5 lakh (3rd Prize).
• Winning solutions may receive opportunities for pilot projects and adoption pathways through NABARD’s extensive partner network.
• The timeline of the challenge includes an Open Call on 6 March 2026, followed by screening and a 6–8 week development sprint from April to May 2026.

About NABARD:

• It is an All India Development Financial Institution (DFI) and an apex Supervisory Body for overall supervision of Regional Rural Banks, State Cooperative Banks and District Central Cooperative Banks in India.
• Headquarters: Mumbai, Maharashtra
• Founded: July 12, 1982 by the Government of India under the NABARD Act 1981
• Chairman: Shaji K V

State Bank of India Launches $500 Million Social Loan Facility to Boost Women’s Economic Empowerment

• State Bank of India (SBI), India’s largest Public Sector Bank (PSB), launched a USD 500 million syndicated social term loan facility with a greenshoe option to promote women’s economic empowerment.
• The USD 500 million social loan was announced on the eve of International Women's Day, highlighting SBI’s commitment to gender equality and inclusive growth.
• The loan facility focuses on supporting sectors such as Micro, Small and Medium Enterprises (MSMEs), Self-Help Groups (SHGs), and women-focused livelihood initiatives.
• The initiative aims to increase women’s participation in entrepreneurship, employment, and economic activities across India.
• Mitsubishi UFJ Financial Group (MUFG), one of Japan’s largest financial institutions, acts as the Mandated Lead Arranger, Underwriter, Bookrunner, and sole Loan Coordinator for the transaction.
• The syndicated social loan marks a major milestone in Environmental, Social and Governance (ESG) financing for SBI.
• It is expected to become the world’s largest gender-themed loan facility launched by an Indian Financial Institution (FI).
• The initiative aligns with the United Nations Sustainable Development Goal – Sustainable Development Goal 5, which aims to “Achieve Gender Equality and Empower all Women and Girls.”
• The landmark social loan reflects SBI’s strong commitment to ESG principles and aims to accelerate social impact through gender-focused sustainable finance.
• This first-of-its-kind transaction by SBI is expected to support gender equality, reduce the gender gap, and promote inclusive economic growth.

About State Bank of India (SBI):

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

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Expands Network of Free Trade Agreements with 38 Countries

• India has significantly expanded its Free Trade Agreement (FTA) network over the last decade, reaching nine FTAs covering 38 countries, strengthening its global trade presence.
• The expansion began with the India–Mauritius Comprehensive Economic Cooperation and Partnership Agreement (CECPA) in 2021.
• This was followed by the India–United Arab Emirates Comprehensive Economic Partnership Agreement implemented in May 2022 with the United Arab Emirates.
• The India–Australia Economic Cooperation and Trade Agreement came into force in December 2022 with Australia.
• India signed the India–European Free Trade Association Trade and Economic Partnership Agreement with the European Free Trade Association on 10 March 2024, which entered into force on 1 October 2025.
• The India–United Kingdom Comprehensive Economic and Trade Agreement was signed in July 2025 with the United Kingdom.
• India also signed the India–Oman Comprehensive Economic Partnership Agreement in December 2025 with Oman.
• The India–New Zealand Free Trade Agreement was announced on 22 December 2025 with New Zealand.
• The India–European Union Free Trade Agreement was announced on 27 January 2026 with the European Union.
• With the United States, India finalised a framework for an interim trade agreement on 7 February 2026, further expanding its global trade engagement.
• These agreements aim to increase market access for Indian farmers, exporters and entrepreneurs, including women-led Micro, Small and Medium Enterprises (MSMEs) in sectors such as garments, leather and handicrafts.
• The FTAs also create mobility pathways for Indian professionals, students, IT experts, chefs and yoga instructors, including post-study work opportunities and social security benefits.
• They promote exports of organic products, traditional wellness systems under AYUSH and digital services, while encouraging foreign investment.
• India has negotiated these FTAs while protecting sensitive sectors such as dairy, agriculture and domestic industries, in line with initiatives like Atmanirbhar Bharat and the long-term vision of Viksit Bharat 2047.

RECENT NEWS

• India and the European Union have achieved a major diplomatic and economic breakthrough. On January 27, 2026, during the 16th India–EU Summit, both sides formally announced the conclusion of negotiations on a long-awaited Free Trade Agreement (FTA). 

Ministry of Panchayati Raj Launches ‘Say No To Proxy Sarpanch’ Campaign

• The Ministry of Panchayati Raj launched the “Say No To Proxy Sarpanch” campaign on International Women's Day to address the issue of proxy leadership in village governance.
• The campaign will run until 18 March 2026 and aims to raise awareness about the “Sarpanch Pati” practice, where male relatives exercise authority on behalf of elected women sarpanches.
• The “Sarpanch Pati” practice refers to situations where husbands or male relatives of elected women leaders control decision-making in Gram Panchayats, despite women being officially elected.
• These male relatives are often referred to as “Sarpanch Pati”, “Pradhan Pati” or “Mukhiya Pati.”
• The campaign encourages citizens to support genuine women leadership and highlight examples of women sarpanches independently performing their duties.
• It aims to strengthen grassroots democracy and ensure that elected women representatives exercise their authority without interference.
• The ministry has also proposed strict penalties for proven cases of proxy governance in local bodies.
• Additional recommendations include helplines, women’s watchdog committees and confidential complaint mechanisms to report cases of proxy leadership.
• The advisory committee also suggested whistleblower rewards for verified cases of proxy governance.
• The government plans to implement capacity-building programmes, mentorship initiatives and leadership training for elected women representatives to strengthen their administrative and decision-making skills.
• The Panchayati Raj System in India is a decentralized rural governance structure functioning at three levels: Gram Panchayat (village), Panchayat Samiti (block) and Zila Parishad (district).
• The system was strengthened by the 73rd Constitutional Amendment Act, 1992, which introduced reservations for women in local governance bodies.

Maharashtra Celebrates International Women’s Day 2026 with Guinness World Record Lezim Dance

• Maharashtra celebrated International Women's Day 2026 with rallies, marathons, sports events, awareness campaigns and cultural programmes under the theme “Give to Gain.”
• Various districts organized activities promoting women’s empowerment, health awareness and community participation, including bike rallies, athletics competitions and vaccination drives.
• A major highlight was a Guinness World Record Lezim dance performance held in Dombivli, where 9,111 women and girls from Dombivli and Kalyan performed the traditional Lezim simultaneously at the Savalaram Maharaj Sports Complex.
• The performance broke the previous record of 7,338 participants, showcasing collective participation while celebrating Maharashtra’s cultural heritage.
• As part of the celebrations, Eknath Shinde, Deputy Chief Minister of Maharashtra, launched a Human Papillomavirus (HPV) vaccination campaign and introduced a Pink OPD service in Mumbai to improve women’s healthcare access.
• In districts such as Latur and Nanded, more than 20,000 girls aged 14 years or below will receive the Gardasil-4 vaccine free of cost.
• Sports events were also organized across cities including Yavatmal, Nagpur, Chhatrapati Sambhajinagar and Dhule under the Asmita Women’s League athletics competitions.
• In Nagpur, the municipal corporation organized a Pink Marathon at Yashwant Stadium, encouraging women’s participation in fitness and sports.
• In Beed, hundreds of women from schoolgirls to senior citizens participated in a Women’s Marathon.
• In Gondia, a women’s bike rally was organized under the slogan “Respect for Her, Pride of Gondia,” where participants rode motorcycles wearing traditional Nauvari sarees.
• In Sangli, around 15,000 schoolgirls received self-defence training as part of a Girl Empowerment initiative.

RECENT NEWS

• The Maharashtra state government has introduced a new offline photo upload feature for e-crop registration. This thing is making the process easier for farmers in areas with poor internet connectivity. Announcing the initiative in the state assembly by Revenue Minister Chandrashekhar Bawankule.

About Maharashtra:

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

Kerala Introduces Cyber Safety Protocol 2026 for Schools

• The government of Kerala has introduced the Cyber Safety Protocol 2026, a comprehensive framework aimed at protecting students in the era of Artificial Intelligence and digital learning.
• The initiative has been developed by Kerala Infrastructure and Technology for Education (KITE), the technology wing of the General Education Department of Kerala, to create a safe digital learning environment in public schools.
• The protocol was designed after analysing emerging cyber threats associated with AI and online platforms, including AI-generated misinformation, deepfakes, digital grooming and cyber fraud.
• It aims to improve cybersecurity awareness, digital literacy and responsible online behaviour among students and teachers while ensuring protection of student privacy.
• The framework outlines 13 major objectives focusing on digital safety education, responsible digital citizenship and awareness of risks related to generative AI tools and online platforms.
• Students will be trained to identify misinformation, avoid sharing personal data with AI tools and verify online information before trusting or sharing it.
• Schools must follow specific operational guidelines, with school heads assigned 17 responsibilities to maintain cyber safety standards.
• Institutions are required to provide teacher-supervised internet access during school hours and establish School Cyber Security Committees to monitor digital activities and guide students on safe internet use.
• The protocol emphasises strong data privacy protection through “Privacy by Design” principles, ensuring that students’ personal data is safeguarded from misuse.
• It discourages real-time CCTV monitoring through private servers inside classrooms and prohibits teachers from collecting sensitive student information through social media platforms or unverified online sources.
• Students are provided 25 cyber safety guidelines, including identifying suspicious links, protecting personal data and managing privacy settings in gaming and social media platforms.
• Parents are given 16 recommendations, including screen-time management, awareness of digital footprints and the use of parental control tools, encouraging cooperation between schools and families for safer digital environments.
• The protocol is supported by several Indian legal frameworks such as the Information Technology Act, 2000, Digital Personal Data Protection Act, 2023 and the Protection of Children from Sexual Offences Act, 2012, along with updated 2026 IT rules related to Synthetically Generated Information (SGI) to address AI-generated digital content.

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

RECENT NEWS

• The Kerala Health Department launched the MeHEALTH mobile application. This app launched to help citizens easily access information about public healthcare facilities and services nearby locations. Health Minister Veena George announced that the app will provide details about hospitals, specialty departments, laboratory tests and service charges.

India’s First Ring Metro Inaugurated by Prime Minister Shri Narendra Modi in Delhi

• Prime Minister Shri Narendra Modi, inaugurated India’s first Ring Metro corridor in Delhi, marking a major expansion of the Delhi Metro
• The project completes the Majlis Park–Maujpur-Babarpur section of the Delhi Metro Pink Line, making it a fully operational circular (ring) metro route around the national capital.
• The newly completed corridor is about 12.3 km long and includes 10 stations: Majlis Park, Burari, Jharoda Majra, Jagatpur–Wazirabad, Soorghat, Nanaksar–Sonia Vihar, Khajuri Khas, Bhajanpura, Yamuna Vihar and Maujpur–Babarpur.
• With this addition, the Pink Line now extends to around 71.56 km, becoming India’s first fully operational ring metro corridor, allowing passengers to travel across different parts of Delhi without passing through central interchange hubs.
• The corridor features modern engineering infrastructure, including a bridge over the Yamuna River and a double-decker viaduct carrying both a metro line and a road flyover.
• During the event, the Prime Minister also inaugurated the Deepali Chowk–Majlis Park extension of the Delhi Metro Magenta Line, which is about 9.9 km long and adds seven new stations.
• After the extension, the Magenta Line length has increased to nearly 49 km, improving connectivity between northern parts of Delhi and the wider metro network. Some sections reach about 28.36 metres in height, making them among the highest elevated metro stretches in the system.
• The Prime Minister also laid the foundation stone for three new metro corridors under Delhi Metro Phase-V (A):
  – Central Vista Corridor: Ramakrishna Ashram Marg to Indraprastha (about 913 km underground)
  – Golden Line Extension: Aerocity to Indira Gandhi International Airport Terminal-1
  – Golden Line Extension: Tughlakabad to Kalindi Kunj (elevated)
• The Central Vista corridor will connect important landmarks such as India Gate, Central Secretariat, War Memorial–High Court, Bharat Mandapam and Indraprastha, further strengthening public transport connectivity in the capital.

CURRENT AFFAIRS : INTERNATIONAL NEWS

World Health Organization Certifies Denmark as First European Union Country to Eliminate Mother-to-Child Transmission of HIV and Syphilis

• Denmark has been certified by the World Health Organization (WHO) as the first country in the European Union to achieve elimination of mother-to-child transmission (EMTCT) of HIV and syphilis.
• Denmark successfully met all required targets from 2021 to 2024, including maintaining very low transmission rates and high coverage of prenatal testing and treatment for pregnant women.
• With this achievement, Denmark joins 22 other countries and territories validated by WHO for eliminating or progressing toward elimination of mother-to-child transmission of HIV, syphilis, or hepatitis B.
• The WHO is headquartered in Geneva, was founded on 7 April 1948, and its Director-General is Dr. Tedros Adhanom Ghebreyesus.
• WHO’s Regional Validation Committee (June 2025) and Global Validation Advisory Committee (August 2025) confirmed that Denmark met all benchmarks, including keeping new infant infections below 50 per 100,000 births.
• Demonstrating strong political commitment, consistent investment in primary care, and integrated maternal and child health services, Denmark ensured every pregnant woman and newborn is protected from HIV and syphilis.
• Danish authorities achieved 95% testing and treatment coverage for pregnant women, supported by robust antenatal care, reliable data systems, and high human rights standards.
• Denmark’s universal health system provided equal access for all, enabling decades of sustained efforts by healthcare professionals, midwives, and public health teams to deliver necessary screening and care.
• Denmark aims to progress toward full triple elimination by adding hepatitis B to its EMTCT program.
• Countries and territories validated by WHO for EMTCT include Anguilla, Antigua and Barbuda, Armenia, Belarus, Belize, Bermuda, Brazil, Botswana, Cayman Islands, Cuba, Dominica, Jamaica, Malaysia, Maldives, Montserrat, Namibia, Oman, Republic of Moldova, Saint Vincent and the Grenadines, Sri Lanka, St. Kitts and Nevis, and Thailand.

About Denmark :

• Prime Minister : Mette Frederiksen
• Capital : Copenhagen
• Currency : Danish krone

CURRENT AFFAIRS: AWARDS AND HONOURS

Rashmika Mandanna Wins Best Actress at Telangana Gaddar Film Awards

• Rashmika Mandanna won the Best Actress award at the Telangana Gaddar Film Awards for her performance in the Telugu film The Girlfriend.
• The Telangana Gaddar Film Awards are state-backed honours introduced by the Telangana Film Development Corporation and supported by the Government of Telangana to recognize excellence in Telugu cinema.
• These awards were instituted in 2025 to honour outstanding contributions by actors, directors, films and technicians in the Telugu film industry.
• The awards are named after revolutionary Telugu poet Gaddar, acknowledging his cultural and artistic influence.
• Rashmika Mandanna received the award for portraying Bhooma Devi, a postgraduate student in “The Girlfriend,” a character noted for its emotional depth and realistic portrayal.
• The film explores themes such as toxic relationships, emotional manipulation and personal self-realisation.
• “The Girlfriend” (2025) is a Telugu romantic drama written and directed by Rahul Ravindran.
• The movie also features actors Dheekshith Shetty and Anu Emmanuel in key roles.
• The Telangana Gaddar Film Awards aim to promote regional cinema and recognise films released after the formation of Telangana, highlighting achievements in the state’s film industry.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Bharat Electronics Limited Signs Memorandum of Understanding with SASMOS HET Technologies for Defence Electronics Manufacturing

• Bharat Electronics Limited (BEL) signed a Memorandum of Understanding (MoU) with SASMOS HET Technologies Ltd to strengthen India’s indigenous defence electronics manufacturing ecosystem.
• The MoU was exchanged between Manoj Jain, Chairman and Managing Director of BEL, and H. G. Chandrashekar, Chairman and Managing Director of SASMOS.
• The agreement was formalised earlier in the presence of Rajnath Singh, Defence Minister of India.
• The partnership aims to localise mission-critical defence electronics components, enhance domestic value addition, and strengthen India’s defence manufacturing supply chain.
• The collaboration will focus on areas such as high-reliability photonics and fibre-optic systems, avionics, mission-critical electronics, aerospace-grade interconnect solutions, and electro-mechanical assemblies.
• The companies will also work on mission-critical subsystems for airborne, naval and land-based defence platforms.
• During the event, an installation-ready subsystem for a naval radar communication network developed by SASMOS within six months was showcased.
• The partnership supports national initiatives such as Atmanirbhar Bharat, which promotes indigenisation and domestic defence manufacturing.
• The MoU exchange took place at the SASMOS Aerospace Special Economic Zone facility in Bengaluru, which is dedicated to aerospace and defence production.
• The collaboration is expected to strengthen supply chain resilience, improve programme execution efficiency and enhance the global competitiveness of India’s defence systems.

About BEL

• Bharat Electronics Limited is an Indian public sector aerospace and defence electronics company, headquartered in Bengaluru. It primarily manufactures advanced electronic products for ground and aerospace applications. BEL is one of sixteen PSUs under the administration of the Ministry of Defence of India.
• Founded: 1954, Bengaluru
• Chairman & Managing Director: Manoj Jain

CURRENT AFFAIRS: RANKING AND REPORTS

India Becomes World’s Second Largest Arms Importer: Stockholm International Peace Research Institute Report (2021–2025)

• India emerged as the second largest arms importer globally during 2021–2025, accounting for 8.2% of total global arms imports, according to a report released by the Stockholm International Peace Research Institute.
• The report ranked India second among global importers of major arms, highlighting the country’s efforts to modernize its armed forces and maintain strategic defence preparedness.
• Despite the high ranking, India’s arms imports declined by around 4% compared to the previous period (2016–2020).
• India’s defence imports are mainly driven by security challenges and border tensions with China along the Line of Actual Control (LAC) and with Pakistan along the Line of Control (LoC).
• The report also noted that military stand-offs and regional conflicts have increased the demand for advanced imported weapons systems.
• Over the past decade, India has diversified its defence procurement sources, increasing purchases from France, Israel and the United States, while gradually reducing dependence on Russia.
• Russia’s share in India’s arms imports declined from about 70% during 2011–2015 to 51% during 2016–2020 and further to around 40% in 2021–2025.
• The report also highlighted India’s growing domestic defence manufacturing capability, supported by government initiatives such as Make in India and Atmanirbhar Bharat, which aim to increase indigenous production of defence equipment and reduce reliance on foreign suppliers.
• According to the report, the top five global arms importers during 2021–2025 were:

1. Ukraine
2. India
3. Saudi Arabia
4. Qatar
5. Pakistan.

CURRENT AFFAIRS : DEFENCE NEWS

Indian Armed Forces Contingent Leaves for Seychelles to Participate in Joint Military Exercise LAMITIYE-2026

• An Indian Armed Forces contingent arrived in Seychelles to participate in the 11th edition of the Joint Military Exercise “LAMITIYE-2026” with the Seychelles Defence Forces (SDF).
• The Joint Exercise LAMITIYE-2026 is being conducted at the Seychelles Defence Academy from 09–20 March 2026.
• The term “LAMITIYE” means “Friendship” in the Creole language, highlighting the strong defence cooperation between India and Seychelles.
• Exercise LAMITIYE is a biennial (every two years) joint military training exercise that has been conducted in Seychelles since 2001.
• The 2026 edition is significant as it includes the participation of all three services of the Indian Armed Forces — the Indian Army, Indian Navy, and Indian Air Force.
• The Indian Army contingent includes personnel from the Assam Regiment.
• The Indian Navy is represented by the warship INS Trikand, while the Indian Air Force is participating with a Lockheed Martin C-130 Hercules
• The exercise aims to enhance synergy, cooperation, and interoperability between the Indian Armed Forces and the Seychelles Defence Forces.
• The training focuses on Sub-Conventional Operations in a Semi-Urban Environment and coordination during Peacekeeping Operations.
• The 12-day joint exercise includes field training exercises, combat discussions, tactical planning, case studies, lectures, and demonstrations.
• The exercise will conclude with a two-day Validation Exercise to assess operational readiness and coordination.
• Both sides will practice tactical drills for neutralising threats in semi-urban areas, while showcasing new-generation equipment and military technology.
• The exercise also promotes exchange of skills, operational experience, and best military practices between the two nations.
• The 10th edition of Exercise LAMITIYE was previously conducted at the Seychelles Defence Academy from 18–27 March as part of the ongoing India–Seychelles defence partnership.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Lieutenant General Dhiraj Seth Appointed as Vice Chief of Army Staff, to Take Office on 1 April 2026

• The Indian Army announced the appointment of Lieutenant General Dhiraj Seth as the next Vice Chief of Army Staff (VCOAS).
• Lt Gen Dhiraj Seth will succeed Lieutenant General P. P. Singh assumed office on 1 April 2026.
• The Vice Chief of Army Staff (VCOAS) is the second-highest position in the Indian Army after the Chief of Army Staff (COAS).
• The VCOAS is responsible for overseeing operational readiness, modernization, strategic planning, and coordination among various Army commands.
• Lt Gen Dhiraj Seth is currently serving as the General Officer Commanding-in-Chief (GOC-in-C) of Southern Command.
• Southern Command of the Indian Army is headquartered in Pune, Maharashtra and is responsible for defence operations across peninsular India.
• Lt Gen Dhiraj Seth is an officer of the Armoured Corps and was commissioned into the Indian Army in December 1986.
• Before assuming command of Southern Command in July 2024, he served as the Commander of the XXI Strike Corps (21 Corps).
• The XXI Strike Corps is a key offensive formation of the Indian Army and is based in Mathura, Uttar Pradesh.
• During his tenure at Southern Command, Lt Gen Dhiraj Seth enhanced training standards, operational readiness, and strategic preparedness of forces across peninsular India.
• His appointment as VCOAS highlights his extensive operational experience and leadership in strengthening India’s military preparedness.

YES Bank Names Vinay Muralidhar Tonse as Managing Director and Chief Executive Officer, To Assume Office on April 6, 2026

• Yes Bank has appointed Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer (MD & CEO).
• He will formally assume charge as MD & CEO from April 6, 2026, succeeding Prashant Kumar.
• The appointment has been approved by the Reserve Bank of India (RBI) for a three-year term.
• Before joining Yes Bank, Tonse served as Managing Director (Retail Business & Operations) at State Bank of India (SBI).
• His tenure at SBI in that role was from November 2023 to November 2025.
• Tonse started his career at SBI in 1988 as a probationary officer, bringing decades of banking experience.
• He will serve in the designate role from March 12 to April 5, 2026, before taking full charge as MD & CEO.
• This leadership change is expected to draw market attention to Yes Bank shares when equity markets

About YES Bank:

• Founded: 2004
• Headquarters: Mumbai, Maharashtra, India
• Tagline : "Life Ko Banao Rich"

CURRENT AFFAIRS : DEFENCE NEWS

IG Defence Unveils Indigenous Long-Range Strike Drone “Project KAL” for Deep-Strike Missions

• IG Defence unveiled Project KAL, an indigenous long-range strike drone designed for deep-strike missions.
• The drone is a one-way attack UAV capable of carrying explosive payloads up to 1,000 km, targeting high-value military assets such as logistics hubs, radar systems, and strategic infrastructure.

Key Highlights :

• Project KAL has an endurance of about 3–5 hours, enabling it to travel long distances, loiter over target areas, and conduct precision strikes.
• The system is comparable to Shahed-class drones, known for their low-cost, long-range strike capabilities in modern conflicts.
• IG Defence, founded in Odisha and headquartered in New Delhi, aims to strengthen India’s unmanned warfare capabilities through domestic innovation.
• Project KAL is intended to develop a made-in-India long-range strike drone, expanding the country’s indigenous combat drone capabilities.
• The drone is envisioned as a deep-penetration strike platform capable of operating far beyond the frontline, observing targets, and adjusting flight paths before striking.
• With a range of up to 1,000 kilometres and endurance of 3–5 hours, the drone can operate deep inside contested environments.
• Designed to carry a high-explosive payload, the platform targets strategic infrastructure, logistics hubs, radar installations, and other critical military assets.
• Project KAL offers the armed forces a scalable, cost-effective option for precision strikes, reducing risks to personnel in high-threat environments.
• Long-range drones like Shahed-class have demonstrated that inexpensive unmanned systems can overwhelm air defences and impose disproportionate operational and financial pressure on advanced defence networks.

US Submarine Strikes Iranian Warship IRIS Dena Near Sri Lanka in International Waters

• A US submarine torpedoed the Iranian warship IRIS Dena off the coast of Sri Lanka, outside its territorial waters.
• The ship was returning after participating in the International Fleet Review and MILAN-2026 naval exercise hosted by India near Visakhapatnam.
• The attack resulted in the death of at least 80 sailors and expanded the US-Israel–Iran conflict beyond West Asia into the Indian Ocean region.
• The incident has sparked a debate in India over maritime security, especially given India’s strong naval presence in the Indian Ocean.
• The ships sailing in international waters cannot be protected by another country from hostile action and are subject mainly to international maritime law and conventions during naval conflicts.
• The attack occurred in Sri Lanka’s Exclusive Economic Zone (EEZ), which enabled authorities to initiate search and rescue operations

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Defence Research and Development Organisation Sanctions Rs 99.15 Lakh Research Project at Bharathiar University to Develop Antidotes for Toxic Organophosphorus Compounds

• The Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) sanctioned a research project titled ‘Development of Novel Antidote(s) for Highly Toxic Organophosphorous Compounds’ with a total funding of Rs 99.15 lakh to Bharathiar University, Coimbatore (Tamil Nadu, TN).
• The project will focus on developing antidotes to counteract the harmful effects of toxic organophosphorus compounds and is expected to be completed within 36 months.
• The research will be conducted by the DRDO Industry Academia-Centre of Excellence (DIA-CoE) at Bharathiar University.
• The project team is led by Dr. N. Jayakumar, Professor and Head at Bharathiar University, serving as Principal Investigator (PI), and Dr. S. Suja, Professor in the Department of Biochemistry, as Co-Principal Investigator (Co-PI).
• The project aims to strengthen defence research capabilities in chemical toxicity countermeasures through collaboration between DRDO and academia.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Dr. Samir V. Kamat

Union Minister Jitendra Singh Inspects India’s First Ocean Thermal Energy Conversion-Powered Desalination Plant in Lakshadweep

• Union Minister of State (Independent Charge) Dr. Jitendra Singh, Ministry of Science & Technology, reviewed the progress of India’s first Integrated Ocean Thermal Energy Conversion (OTEC) plant at Kavaratti, Lakshadweep.
• During the visit, the Minister examined key components of the OTEC plant, including the seawater intake system, deep-sea cold-water pipeline, turbine-generator unit, and desalination modules.

Key Highlights :

• The OTEC technology utilises the temperature difference between warm surface seawater and cold deep seawater to generate electricity and potable water.
• The project aims to provide clean power, desalinated drinking water, and sustainable energy solutions for island communities where conventional power supply is limited.
• The OTEC project is being implemented by the Ministry of Earth Sciences (MoES) and the National Institute of Ocean Technology (NIOT), headquartered in Chennai, Tamil Nadu.
• Jitendra Singh also reviewed the Low Temperature Thermal Desalination (LTTD) plants across eight islands of Lakshadweep, which provide a reliable source of potable water in regions with limited groundwater, salinity intrusion, and dependence on seasonal rainfall.
• The LTTD technology converts seawater into drinking water using the natural temperature difference between surface and deep-sea water at depths of 350–400 metres.
• The OTEC plant in Kavaratti will include a 8 km high-density polyethylene pipeline to draw cold seawater from depths exceeding 1,000 metres to the onshore facility.
• The plant is expected to have a desalination capacity of about 100 cubic metres per day and will operate independently of diesel-based electricity, reducing fuel dependence.
• Civil construction of the plant is nearing completion, and major process equipment has been fabricated with installation ongoing.
• The initiatives aim to strengthen water security, promote clean energy, and advance indigenous ocean technologies in island and coastal regions.
• The combined progress of LTTD facilities and the OTEC-powered desalination plant reflects a step towards integrating ocean science with sustainable development goals in tropical island territories.

Indian Institute of Science Partners with Pratiksha Trust to Launch Brain Co-Processor Moonshot Project

• The Indian Institute of Science (IISc) launched a Moonshot Project on Brain Co-Processors, aimed at developing advanced technologies to enhance or restore brain function.
• The project is funded by the Pratiksha Trust, founded by Senapathy ‘Kris’ Gopalakrishnan and Sudha Gopalakrishnan.
• The initiative integrates neuromorphic hardware and AI algorithms to create implantable and non-invasive brain co-processors capable of decoding neural signals, processing them using AI, and sending feedback to the brain.
• The project builds on IISc’s Brain, Computation and Data Science initiative, involving over 20 faculty members, and focuses on cognitive rehabilitation of stroke survivors.
• The co-processors will help restore critical sensorimotor functions, including goal-directed reach and grasp abilities.
• Brain co-processors are an emerging technology designed to enhance the human brain’s natural abilities and provide AI-powered, closed-loop neural feedback.
• The first phase aims to develop a non-invasive neural co-processor for sensorimotor feedback in stroke survivors while preparing groundwork for an invasive implantable co-processor.
• The second phase focuses on developing an embedded, minimally invasive co-processor to restore sensorimotor coordination in patients with chronic deficits following middle cerebral artery (MCA) stroke.
• The IISc team will collaborate with medical professionals, neurologists, therapists, patients, caregivers, and research institutions in India and globally to clinically validate and deploy the co-processors.
• The project represents a first-of-its-kind effort to combine AI, neuromorphic engineering, and neuroscience for restoring complex brain functions.

CURRENT AFFAIRS : ENVIRONMENT

2,600-Year-Old Sealed Etruscan Tomb Unearthed in Central Italy

• Archaeologists in central Italy have uncovered a sealed Etruscan tomb dating back around 2,600 years, providing rare insights into an ancient civilisation predating Rome.
• The tomb was discovered at the San Giuliano archaeological site, located about 70 km northwest of Rome, which once hosted an Etruscan settlement on a plateau surrounded by a large necropolis (ancient burial ground).
• The excavation is part of the San Giuliano Archaeological Research Project (SGARP), involving international universities, the Virgil Academy, and Italian heritage authorities.
• Inside the undisturbed burial chamber, archaeologists found four skeletons placed on carved stone beds, suggesting deliberate positioning in ancient burial ceremonies.
• The tomb contained over 100 artefacts, including ceramic vases, iron weapons, bronze ornaments, silver jewellery, and hair accessories, reflecting Etruscan beliefs in usefulness of items in the afterlife.
• The tomb is exceptional because it remained sealed beneath a stone slab for more than two millennia, unlike many looted Etruscan tombs, allowing detailed study of 7th century BCE burial practices.
• Preliminary examination suggests the remains may belong to two male-female pairs, though further scientific analysis like DNA testing and isotope analysis will confirm their identities and relationships.
• Etruscan civilisation flourished in central Italy between the 8th and 6th centuries BCE, primarily in present-day Tuscany, Umbria, and Lazio.
• A necropolis refers to a large ancient cemetery or burial ground.
• The Etruscan culture significantly influenced early Roman religion, architecture, and urban planning.
• Future studies will examine skeletal remains and artefacts to understand diet, health, trade connections, and social organisation in Etruscan society.
• The findings will also help trace the evolution of the region from an Etruscan settlement to a Roman centre and later a medieval fortress.

CURRENT AFFAIRS: SPORTS NEWS

George Russell Wins Formula One Australian Grand Prix 2026

• George Russell of Mercedes-AMG Petronas Formula One Team won the Formula One Australian Grand Prix 2026, the opening race of the Formula One 2026 season held at the Melbourne Grand Prix Circuit in Melbourne, Australia.
• Russell secured his sixth Formula One career victory, leading a Mercedes one–two finish with teammate Kimi Antonelli finishing second.
• Charles Leclerc and Lewis Hamilton of Scuderia Ferrari finished third and fourth
• The race began with an intense battle between Russell and Leclerc, with the lead changing seven times within the first nine laps.
• Leclerc initially overtook Russell at Turn One, but Mercedes regained control through strong race pace and strategy.
• Oscar Piastri of McLaren crashed on the way to the starting grid, ending his home race before it began.
• Max Verstappen of Red Bull Racing recovered from 20th position after a qualifying crash to finish sixth.
• Lando Norris finished fifth, winning the midfield battle between McLaren and Red Bull.
• Rookie driver Arvid Lindblad secured eighth place for Racing Bulls in his Formula One debut.
• Top 10 Results:

1. George Russell – Mercedes
2. Kimi Antonelli – Mercedes
3. Charles Leclerc – Ferrari
4. Lewis Hamilton – Ferrari
5. Lando Norris – McLaren
6. Max Verstappen – Red Bull
7. Oliver Bearman – Haas
8. Arvid Lindblad – Racing Bulls
9. Gabriel Bortoleto – Audi
10. Pierre Gasly – Alpine

• The Formula One 2026 season introduced new technical regulations, featuring power units with a 50–50 split between internal combustion engine power and electrical energy, increasing the importance of energy management and race strategy.

India Wins ICC Men’s T20 World Cup 2026

• The ICC Men's T20 World Cup 2026 ended with the India national cricket team defeating the New Zealand national cricket team by 96 runs in the final held at Narendra Modi Stadium, Ahmedabad.
• With this victory, India secured back-to-back ICC Men’s T20 World Cup titles, strengthening its dominance in international T20 cricket.
• After winning the toss, New Zealand opted to bowl, and India posted 255/5 in 20 overs, one of the highest totals in a T20 World Cup final.
• Sanju Samson led India’s batting with 89 runs off 46 balls, hitting 5 fours and 8 sixes.
• Abhishek Sharma provided a rapid start with 52 runs off 21 balls, while Ishan Kishan scored 54 runs off 25 balls.
• Shivam Dube finished the innings strongly with 26 runs off 8 balls.
• India dominated the powerplay, scoring 92 runs in the first six overs, putting early pressure on New Zealand.
• Chasing 256 runs, New Zealand struggled against India’s disciplined bowling and were bowled out for 159 runs in 19 overs.
• For New Zealand, Tim Seifert scored 52 runs off 26 balls, while Mitchell Santner added 43 runs off 35 balls.
• Jasprit Bumrah delivered a match-winning spell, taking 4 wickets for 15 runs in 4 overs.
• Axar Patel took 3 wickets for 27 runs, while Hardik Pandya, Varun Chakaravarthy, and Abhishek Sharma claimed one wicket each.

Lakshya Sen Finishes Runner-up at All England Open 2026

• India’s badminton star Lakshya Sen finished runner-up in the men’s singles at the All-England Open Badminton Championships 2026 held in Birmingham, United Kingdom.
• In the final, Sen lost to Taiwan’s Lin Chun‑Yi with scores 15–21, 20–22 in a closely contested match.
• Lin Chun-Yi dominated the first game, using aggressive attacking play and maintaining control throughout the rallies.
• In the second game, Lakshya Sen made a strong comeback and pushed the contest to the final moments, but Lin Chun-Yi held his nerve to win 22–20 and secure the title.
• Sen had an impressive run in the tournament, defeating several higher-ranked opponents to reach the final.
• In the semifinal, he battled through fatigue and cramps to secure a tough victory and qualify for the championship match.
• The defeat also marked Lakshya Sen’s fifth consecutive loss to Lin Chun-Yi in international competitions, with the Taiwanese shuttler’s left-handed attacking style proving challenging.
• The All England Open is one of the oldest and most prestigious badminton tournaments in the world.
• Only two Indian players have won the men’s singles title in the tournament’s history:
  – Prakash Padukone – 1980
  – Pullela Gopichand – 2001
• Lakshya Sen’s runner-up finish highlights India’s growing presence in global badminton, but the country’s wait for another All-England men’s singles champion continues.

CURRENT AFFAIRS: IMPORTANT DAYS

Central Industrial Security Force Raising Day 2026 Observed on 10 March

• Central Industrial Security Force (CISF) Raising Day is observed every year on 10 March across India to mark the establishment of the force.
• CISF Raising Day 2026 was observed on 10 March 2026, commemorating the anniversary of the force dedicated to protecting critical industrial and strategic infrastructure.
• The Central Industrial Security Force was established on 10 March 1969 under the Central Industrial Security Force Act, 1968 passed by the Parliament of India.
• At the time of its formation, CISF had around 2,800 personnel tasked with providing security to key industrial undertakings in the country.
• Initially, three battalions were created to provide integrated security to Public Sector Undertakings (PSUs), which played a major role in India’s economy during that period.
• Over the years, CISF has expanded its role to provide security to airports, seaports, metro networks, government buildings and critical infrastructure across India.

Daily CA One- Liner: March 10

•  India has significantly expanded its Free Trade Agreement (FTA) network over the last decade, reaching nine FTAs covering 38 countries, strengthening its global trade presence
• The Ministry of Panchayati Raj launched the “Say No To Proxy Sarpanch” campaign on International Women's Day to address the issue of proxy leadership in village governance
• Maharashtra celebrated International Women's Day 2026 with rallies, marathons, sports events, awareness campaigns and cultural programmes under the theme “Give to Gain.”
• The government of Kerala has introduced the Cyber Safety Protocol 2026, a comprehensive framework aimed at protecting students in the era of Artificial Intelligence and digital learning
• Prime Minister Shri Narendra Modi, inaugurated India’s first Ring Metro corridor in Delhi, marking a major expansion of the Delhi Metro network
• Rashmika Mandanna won the Best Actress award at the Telangana Gaddar Film Awards for her performance in the Telugu film The Girlfriend
• Bharat Electronics Limited (BEL) signed a Memorandum of Understanding (MoU) with SASMOS HET Technologies Ltd to strengthen India’s indigenous defence electronics manufacturing ecosystem
• India emerged as the second largest arms importer globally during 2021–2025, accounting for 2% of total global arms imports, according to a report released by the Stockholm International Peace Research Institute
• George Russell of Mercedes-AMG Petronas Formula One Team won the Formula One Australian Grand Prix 2026, the opening race of the Formula One 2026 season held at the Melbourne Grand Prix Circuit in Melbourne, Australia
• The ICC Men's T20 World Cup 2026 ended with the India national cricket team defeating the New Zealand national cricket team by 96 runs in the final held at Narendra Modi Stadium, Ahmedabad
• India’s badminton star Lakshya Sen finished runner-up in the men’s singles at the All-England Open Badminton Championships 2026 held in Birmingham, United Kingdom
• Central Industrial Security Force (CISF) Raising Day is observed every year on 10 March across India to mark the establishment of the force
• Federal Bank has launched a new wealth management platform named ‘Fed Wealth’ to expand its presence in the wealth management segment.
• The Reserve Bank of India (RBI) has modified a key condition for AU Small Finance Bank’s transition into a universal bank, relaxing the earlier requirement related to Non-Operative Financial Holding Company (NOFHC).
• National Bank for Agriculture and Rural Development (NABARD) launched the “National Climate Stack Innovation Challenge” in collaboration with Gates Foundation and Dalberg Advisors to strengthen climate intelligence and resilience in rural India.
• State Bank of India (SBI), India’s largest Public Sector Bank (PSB), launched a USD 500 million syndicated social term loan facility with a greenshoe option to promote women’s economic empowerment.
• Denmark has been certified by the World Health Organization (WHO) as the first country in the European Union to achieve elimination of mother-to-child transmission (EMTCT) of HIV and syphilis.
• An Indian Armed Forces contingent arrived in Seychelles to participate in the 11th edition of the Joint Military Exercise “LAMITIYE-2026” with the Seychelles Defence Forces (SDF).
• The Indian Army announced the appointment of Lieutenant General Dhiraj Seth as the next Vice Chief of Army Staff (VCOAS).
• Yes Bank has appointed Vinay Muralidhar Tonse as its Managing Director and Chief Executive Officer (MD & CEO).
• IG Defence unveiled Project KAL, an indigenous long-range strike drone designed for deep-strike missions.
• A US submarine torpedoed the Iranian warship IRIS Dena off the coast of Sri Lanka, outside its territorial waters.
• The Defence Research and Development Organisation (DRDO) under the Ministry of Defence (MoD) sanctioned a research project titled ‘Development of Novel Antidote(s) for Highly Toxic Organophosphorous Compounds’ with a total funding of Rs 99.15 lakh to Bharathiar University, Coimbatore (Tamil Nadu, TN).
• Union Minister of State (Independent Charge) Dr. Jitendra Singh, Ministry of Science & Technology, reviewed the progress of India’s first Integrated Ocean Thermal Energy Conversion (OTEC) plant at Kavaratti, Lakshadweep.
• The Indian Institute of Science (IISc) launched a Moonshot Project on Brain Co-Processors, aimed at developing advanced technologies to enhance or restore brain function.
• Archaeologists in central Italy have uncovered a sealed Etruscan tomb dating back around 2,600 years, providing rare insights into an ancient civilisation predating Rome.