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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Financial Action Task Force Updates High-Risk and Monitored Jurisdictions List – February 9-13, 2026

• The Financial Action Task Force (FATF) issued updated public statements on 13 February 2026 identifying jurisdictions with weaknesses in anti-money laundering (AML) and counter-terrorist financing (CFT)

Key Highlights :

• In its document “High-Risk Jurisdictions subject to a Call for Action”, FATF reaffirmed that North Korea, Iran, and Myanmar remain high-risk jurisdictions with serious strategic deficiencies in their AML/CFT regimes.
• Myanmar, added to the Call for Action list in October 2022, continues to remain on the list; countries are advised to apply enhanced due diligence measures while ensuring that humanitarian aid and remittance flows are not disrupted.
• FATF also released a list of “Jurisdictions under Increased Monitoring” (Grey List), referring to countries working with FATF to address strategic AML/CFT deficiencies through agreed action plans.
• As per the February 2026 update, Kuwait and Papua New Guinea were newly added to the increased monitoring list, joining other countries already under monitoring.
• FATF was established in 1989 as an intergovernmental body that sets global standards and monitors countries’ efforts to combat money laundering, terrorist financing, and threats to the integrity of the international financial system.
• FATF’s plenary releases documents titled “High-Risk Jurisdictions subject to a Call for Action” and “Jurisdictions under Increased Monitoring” to identify and work with jurisdictions having strategic AML/CFT deficiencies.
• The list of countries under increased monitoring before February 2026 included: Algeria, Angola, Bolivia, Bulgaria, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Haiti, Kenya, Lao PDR, Lebanon, Monaco, Namibia, Nepal, South Sudan, Syria, Venezuela, Vietnam, Virgin Islands (UK), and Yemen.
• Kuwait and Papua New Guinea were added to the increased monitoring list after review by FATF in February 2026.
• FATF advises regulated entities that legitimate trade and business transactions with these countries are not precluded, despite the AML/CFT concerns.
• FATF’s decision-making body, the FATF Plenary, meets three times a year to review money laundering and terrorist financing techniques and update statements and recommendations.

HDFC Bank and Swiggy Introduce Two New Co-Branded Credit Cards for Travel and Daily Expenses

• HDFC Bank Limited and Swiggy, a food delivery and quick commerce platform, jointly launched two new co-branded credit cards: Swiggy BLCK HDFC Bank Credit Card and Swiggy Ornge HDFC Bank Credit Card.
• These cards are aimed at providing travel and daily spending rewards across food, shopping, and lifestyle categories.
• The launch expands their existing co-branded credit portfolio, which was introduced in 2023.
• Objective: The cards are designed to cover different spending segments and offer rewards in the form of cashback on food delivery, quick commerce, online shopping, and travel.
• Phased Roll Out: The cards will be rolled out gradually and can be applied via the Swiggy app or HDFC Bank digital platforms.
• Swiggy BLCK HDFC Credit Card: Targeted at higher lifestyle spending, it offers 10% cashback on Swiggy transactions, up to 5% cashback on select entertainment, travel, and e-commerce platforms, and 1% cashback on other eligible transactions. Customers get a 3-month Swiggy One BLCK membership.
• Swiggy Ornge HDFC Credit Card: Targeted at daily shoppers, it offers 5% cashback on Swiggy transactions, cashback on select everyday categories like travel and ride-hailing services, and 1% cashback on other transactions. Customers get a 12-month Swiggy One BLCK membership.
• Key Benefits: Both cards offer maximum annual savings of Rs 48,000.
• Additional Benefits: The cards provide instant discounts through partner platforms, such as 19% off plus 5% cashback on Cleartrip hotel bookings and 5% discount plus 5% cashback across Nykaa
• Existing cardholders of the original co-branded cards will continue to avail cashback benefits across 30+ digital platforms, including Amazon, Flipkart, and Myntra.

About HDFC Bank:

• Founded: 1994
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Sashidhar Jagdishan
• Tagline: "We understand your world"

Jammu & Kashmir Bank Joins Hands with non-banking financial companies to Boost Home and Gold Loan Business

• Jammu and Kashmir Bank (J&K Bank) has partnered with two non-banking financial companies (NBFCs) to expand its retail lending business, especially outside Jammu and Kashmir.
• The bank signed a co-lending agreement with Home First Finance Company India Limited to provide home loans.
• J&K Bank also partnered with IIFL Finance to expand gold loan services.
• The agreements aim to increase credit outreach and strengthen retail loan offerings across India.
• The agreements were signed at the bank’s Jammu zonal office in the presence of MD & CEO Amitava Chatterjee, Executive Director Sudhir Gupta, and senior officials from the bank and partner institutions.
• Under the co-lending model, banks and NBFCs jointly finance loans, combining the bank’s deposit base and branch network with the NBFCs’ credit delivery mechanisms.
• The partnerships would help the bank expand credit access and strengthen its retail lending presence across markets outside the Union Territory.
• The agreements were signed on behalf of J&K Bank by General Manager Rakesh Magotra, while Manoj Viswanathan and Kirti Timmanagoudar represented IIFL Finance.
• The partnerships are expected to expand lending in housing and gold loan segments, particularly in emerging markets across India.

About Jammu & Kashmir Bank:

• Founded: 1938
• Headquarters: Srinagar, Jammu & Kashmir, India
• Managing Director & CEO: Amitava Chatterjee
• Tagline: "Serving to Empower"

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Notifies Green Ammonia and Green Methanol Standards under National Green Hydrogen Mission

• The India Government has officially notified standards for green ammonia and green methanol under the National Green Hydrogen Mission to accelerate the adoption of hydrogen-based fuels and support the transition to cleaner energy systems.
• The new standards define how green ammonia and green methanol must be produced using renewable energy sources, ensuring that these fuels meet strict environmental sustainability criteria.
• The National Green Hydrogen Mission is the flagship initiative of the Government of India aimed at making India a global hub for green hydrogen production, utilisation and export.
• The mission focuses on reducing dependence on fossil fuels and promoting the use of renewable energy sources.
• By notifying the green ammonia and green methanol standards, the government aims to strengthen India’s hydrogen ecosystem.
• These fuels are expected to play a significant role in sectors such as shipping, fertilisers, heavy industries and long-distance transportation.
• Green ammonia is produced using green hydrogen generated from renewable energy sources such as solar and wind power and can also serve as a hydrogen carrier for energy storage and transportation.
• Green methanol is produced by combining green hydrogen with captured carbon dioxide, and it is considered a low-carbon fuel for shipping, chemical industries and power generation.
• The introduction of green fuel standards will improve transparency and credibility in the green hydrogen market.
• The mission is also expected to strengthen energy security, boost industrial competitiveness, promote renewable energy expansion and create employment opportunities.
• The National Green Hydrogen Mission focuses on developing hydrogen production capacity, reducing costs through technological innovation, supporting research and infrastructure development, and promoting international partnerships for hydrogen-based energy solutions.

RECENT NEWS

• The Government of India has ordered a temporary suspension of TRP ratings for TV news channels. The decision comes following concerns about sensational coverage of the ongoing West Asia conflict involving Israel and Iran.

Uttar Pradesh Launches Project GANGA to Expand Rural High-Speed Internet Connectivity

• The Uttar Pradesh Government launched Project GANGA to provide high-speed internet connectivity to more than 20 lakh rural households over the next two to three years.
• The initiative aims to expand digital connectivity in rural and semi-urban areas, improve access to online services and create new employment opportunities.
• For the implementation of the project, a Memorandum of Understanding (MoU) was signed between the State Transformation Commission (STC) and One OTT Entertainment Limited, a subsidiary of the Hinduja Group.
• The project will focus on improving broadband connectivity in villages, enabling better access to online education, digital platforms and communication services.
• A key component of the project is the creation of Digital Service Providers (DSPs) at the Nyaya Panchayat level to deliver broadband and digital services.
• Around 8,000 to 10,000 local entrepreneurs will be selected as Digital Service Providers and will receive training, financial assistance, network infrastructure and technology support.
• The project is expected to generate more than one lakh direct and indirect employment opportunities in rural areas.
• The government aims to ensure around 50% participation of women among Digital Service Providers, promoting women-led entrepreneurship and economic empowerment.
• The MoU was signed in Lucknow, where Suresh Kumar Khanna, Finance and Parliamentary Affairs Minister of Uttar Pradesh, stated that the project will strengthen digital infrastructure and support sectors such as online business, education and healthcare.
• The initiative is expected to promote telemedicine, e-commerce, online education, digital skilling and content creation in rural areas.
• Remote and border districts such as Shravasti, Bahraich and Balrampur are expected to benefit significantly through improved access to digital services, government schemes and employment platforms.

RECENT NEWS

• The Uttar Pradesh government has presented its first-ever Economic Survey 2025-26 in the state legislature, outlining a comprehensive roadmap to transform the state into a $1 trillion economy over the medium term. The survey provides a data-driven framework focusing on investment-led growth, infrastructure expansion, industrial diversification, fiscal discipline, and human development.

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kaimoor Wildlife Sanctuary, Nawabganj Bird Sanctuary (Shahid Chandra Shekhar Azad Bird Sanctuary), Hastinapur Wildlife Sanctuary, Sur Sarovar Bird Sanctuary, Chandraprabha Wildlife Sanctuary, Mahavir Swami Wildlife Sanctuary, Ranipur Wildlife

India Plans to Increase Inter-Regional Power Transmission Capacity to 143 Gigawatts by 2027

• The India Government announced that the country’s inter-regional power transmission capacity will increase to 143 Gigawatts (GW) by 2027 to strengthen electricity flow across regions.
• Currently, India’s inter-regional transmission capacity stands at around 120 GW as of December 2025.
• The expansion is part of efforts to strengthen the National Power Grid and support the rapidly rising electricity demand across the country.
• Shripad Yesso Naik, Union Minister of State for Power, informed the Parliament of India that the national transmission network is being continuously expanded to match growing electricity generation and consumption.
• Under the government plan, India’s inter-regional transmission capacity will increase to:
  • 143 GW by 2027
  • 168 GW by 2032
• The expansion will enable electricity generated in one region to be efficiently transmitted to other regions with higher demand, improving overall grid efficiency.
• According to government projections, India’s peak electricity demand is expected to reach around 388 GW by 2032.
• To meet this demand, the government is strengthening transmission infrastructure under the National Electricity Plan – Volume II (Transmission).
• By 2032, India plans major upgrades in transmission infrastructure, including:
• Expansion of the transmission network to 6.48 lakh circuit kilometres (ckm)
• Increase in transformation capacity to 2,345 Giga Volt Ampere (GVA)
• These improvements will enhance grid reliability and support integration of renewable energy sources such as solar and wind power.
• India operates one of the largest synchronized electricity grids in the world, known as the National Power Grid, which connects the Northern, Western, Eastern, North-Eastern and Southern regional grids.
• The grid allows electricity transfer between states and regions based on demand and supply conditions, improving power reliability and reducing shortages in individual regions.

Prime Minister Narendra Modi Inaugurates 11th Raisina Dialogue in New Delhi

• Prime Minister Shri Narendra Modi, inaugurated the 11th edition of the Raisina Dialogue in New Delhi.
• Alexander Stubb, President of Finland, attended the inaugural session as the Chief Guest and delivered the keynote address.
• The Raisina Dialogue is India’s flagship conference on geopolitics and geo-economics, focusing on major global challenges and international policy issues.
• The dialogue is witnessing participation from representatives of 110 countries, including Ministers, former Heads of State and Government, Members of Parliament, military commanders and industry leaders.
• The theme of Raisina Dialogue 2026 is “Saṁskāra – Assertion, Accommodation, Advancement.”
• Over three days, policymakers and global experts will engage in discussions across six thematic pillars.
• Key thematic pillars include “Contested Frontiers: Power, Polarity, and Periphery,” “Repairing the Commons: New Groups, New Guardians, New Avenues,” and “Trade in the Time of Tariffs: Recovery, Resilience, Reinvention.”

CURRENT AFFAIRS : INTERNATIONAL NEWS

Romania Confirms Ratification of the International Solar Alliance Framework Agreement

• Sena Latif, Ambassador of Romania, submitted the Instrument of Ratification to P. S.Gangadhar, Joint Secretary and Head of Depository at the Ministry of External Affairs (MEA), confirming Romania’s ratification of the Framework Agreement of the International Solar Alliance (ISA).
• In December 2023, the ISA announced that Romania signed the Framework Agreement, making it the 118th member country of the alliance.
• The ratification was completed after Romania deposited its Instrument of Ratification, officially becoming a member of the ISA.
• The Instrument of Ratification was presented in the presence of Secretary (ER), MEA Sudhakar Dalela, and Vice Minister of the Romanian Ministry of Foreign Affairs, Clara Alexandra Volintiru.
• The Framework Agreement of the International Solar Alliance (ISA) facilitates cooperation among member countries for the promotion of solar energy and sustainable development.
• This step formalizes Romania’s commitment to the objectives of the International Solar Alliance (ISA) and strengthens global solar energy collaboration.

About Romania :

• President : Nicușor Dan
• Prime Minister : Ilie Bolojan
• Capital : Bucharest
• Currency : Romanian leu

Summary of Finland President Alexander Stubb’s India Visit (4–7 March 2026)

• Alexander Stubb, President of Finland, paid a four-day State Visit to India from 4–7 March 2026 at the invitation of Prime Minister Narendra Modi, accompanied by a high-level delegation.
• The visit aimed to strengthen cooperation in digitalisation, sustainability, innovation, and trade, and elevated bilateral ties to a Strategic Partnership for Digitalisation and Sustainability.
• This visit marked Alexander Stubb’s first visit to India in his current capacity as President of Finland.
• During the visit, PM Narendra Modi and President Alexander Stubb held bilateral discussions to enhance cooperation in trade, innovation, digital technologies, sustainability, and multilateral forums.
• President Stubb met President Droupadi Murmu, Vice President Chandrapuram Ponnusami Radhakrishnan, and Union Minister Subrahmanyam Jaishankar, Ministry of External Affairs (MEA).
• Raisina Dialogue 2026, held in New Delhi, had the theme “Samskara – Assertion, Accommodation, Advancement”, and President Stubb attended as Chief Guest and keynote speaker.
• India and Finland elevated their bilateral ties to a Strategic Partnership for Innovation and Sustainability, focusing on Digital Technologies, Artificial Intelligence (AI), Quantum Computing, Green Hydrogen, and 6G Technology.
• The visit reinforced India-Finland cooperation in cutting-edge technologies and sustainable development initiatives.

About Finland :

• President : Alexander Stubb
• Prime Minister : Petteri Orpo
• Capital : Helsinki
• Currency : Euro

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Reserve Bank of India Approves Ketan Merchant as Interim Chief Executive Officer of Fino Payments Bank

• The Reserve Bank of India (RBI) approved the appointment of Ketan Merchant, Chief Financial Officer (CFO) of Fino Payments Bank, as the Interim Chief Executive Officer (CEO) of the bank.
• Ketan Merchant will perform the duties of Managing Director (MD) and CEO under the Banking Regulation Act, 1949, for a period not exceeding four months from the date of RBI approval.
• He succeeded Rishi Gupta, the MD and CEO of Fino Payments Bank, who stepped aside after being arrested in connection with alleged Goods and Services Tax (GST)
• Following Rishi Gupta’s arrest, the Board of Fino Payments Bank tasked Ketan Merchant to head the bank and manage day-to-day operations.
• Rishi Gupta was arrested in connection with GST-related violations and has not yet received bail, pending further legal proceedings.
• The bank’s Nomination and Remuneration Committee (NRC) and Board, along with the RBI, will later reassess Gupta’s “fit and proper” status before any decision on his return.
• The Board of Directors also approved the appointment of Anup Agarwal as Interim Chief Financial Officer (CFO) for a period of up to four months, effective from 6 March 2026.
• In December 2025, the RBI granted in-principle approval to Fino Payments Bank to convert into a Small Finance Bank (SFB).
• Fino Payments Bank has been given 18 months by the RBI to complete the transition from a Payments Bank to a Small Finance Bank.
• Fino Payments Bank became the first and only Payments Bank so far to apply for conversion into a Small Finance Bank (SFB).
• The bank clarified to investors that RBI has not indicated any uncertainty regarding its in-principle approval for the SFB transition.

Iran Names Mojtaba Khamenei as Supreme Leader of the Country

• Mojtaba Khamenei was appointed as the Supreme Leader of Iran by the Assembly of Experts following the death of his father, Ali Khamenei, in airstrikes.
• With this appointment, Mojtaba Khamenei became the third Supreme Leader of the Islamic Republic of Iran.
• The Assembly of Experts, a constitutional body in Iran, is responsible for appointing and supervising the Supreme Leader.
• The decision to appoint Mojtaba Khamenei was taken after a decisive vote by the members of the Assembly of Experts.
• Mojtaba Khamenei succeeded Iranian cleric Alireza Arafi, who had been serving as the interim Supreme Leader of Iran.
• The Supreme Leader of Iran is the highest political and religious authority in the country, overseeing key state institutions and national policies.

About Iran :

• Capital : Tehran
• Currency : Iranian rial

Phanindranath Kakarla Appointed CEO & MD of Asset Reconstruction Company (India) Limited (Arcil)

• Phanindranath Kakarla has taken charge as Chief Executive Officer and Managing Director (CEO & MD) of Asset Reconstruction Company (India) Limited (Arcil) with effect from 8 March 2026.
• He succeeds Pallav Mohapatra, who had been leading Arcil since March 2021.
• Kakarla joined Arcil on 2 April 2025 as President under a board-approved succession plan to ensure a smooth transition with Mohapatra’s tenure.
• Prior to Arcil, Phanindranath Kakarla held senior leadership positions at Edelweiss Group.
• Arcil is a leading asset reconstruction company in India that helps in debt resolution.
• The succession plan was designed to provide continuous leadership overlap for operational stability and strategic continuity.
• Kakarla’s appointment reinforces Arcil’s leadership in asset reconstruction and financial management in India.

CURRENT AFFAIRS : DEFENCE NEWS

United States and South Korea Begin Large-Scale Joint Military Drill ‘Freedom Shield’

• The United States and South Korea began a large joint military exercise named Freedom Shield on 9 March 2026.
• The exercise involves thousands of troops, with about 18,000 South Korean troops participating, while the number of American troops has not been confirmed by US Forces Korea.
• Freedom Shield will continue until 19 March 2026, involving multiple training and operational activities, including live, virtual, constructive, and field-based exercises.
• The exercise is aimed at strengthening defence cooperation, military readiness, and operational coordination between the United States and South Korea.
• The drills are designed to reflect the Korea Theater of Operations, creating a combined, joint, all-domain, and interagency operating environment.
• The exercise enhances understanding between Combined Forces Command, United States Forces Korea, the United Nations Command, and ROK Joint Chiefs of Staff (JCS), fortifying the combined defense posture and improving alliance response capabilities against a spectrum of security threats.
• The allies state that the exercises are defensive in nature, though North Korea often condemns joint US-South Korea drills as rehearsals for invasion.
• The exercise coincides with US military engagement in an escalating conflict in the Middle East, leading to speculation in South Korean media that some US assets may be relocated to support operations against Iran.
• Freedom Shield is an annual exercise aimed at building operational coordination, readiness, and joint defense capabilities between the two allies.

Defence Minister Rajnath Singh Unveils ‘Defence Forces Vision 2047’ Blueprint for Future-Ready Indian Military

• Raksha Mantri Shri Rajnath Singh released ‘Defence Forces Vision 2047: A Roadmap for a Future-Ready Indian Military’ at South Block, New Delhi on March 10, 2026.

Key Highlights :

• The vision document was articulated by Headquarters Integrated Defence Staff to transform the Defence Forces into a modern, integrated, and technologically-advanced military capable of supporting India’s aspiration to become Viksit Bharat by 2047.
• The document outlines strategic reforms, capability enhancements, and organisational changes required to address the evolving geostrategic, technological, and security environment.
• It envisions the military transforming into an integrated, multi-domain, and agile force capable of deterring adversaries, responding across the full spectrum of conflict, and protecting expanding strategic interests amid rapidly changing global and regional dynamics.
• A central pillar of the vision is the emphasis on jointness and synergy among the Services, promoting greater coordination in planning, operations, and capability development.
• The document highlights the importance of innovation, advanced technologies, and modern training frameworks to build a force adaptable to future warfare challenges.
• Another key focus area is Aatmanirbharta in defence, encouraging the development and adoption of indigenous technologies tailored to India’s unique security requirements.
• Strengthening domestic defence manufacturing and technological capabilities is expected to enhance operational readiness while contributing to national growth.
• The vision adopts a calibrated roadmap with prioritised capability goals across short-term, mid-term, and long-term timelines, guiding critical military capabilities, institutional reforms, and strategic partnerships.
• The document underscores the need for a whole-of-nation approach, integrating military strength with diplomatic, technological, and economic power to ensure national security.
• Through sustained reforms, innovation, and national commitment, the vision aims to ensure that by India’s centenary of independence, the Defence Forces will be globally respected, technologically advanced, and combat-ready, contributing to a strong and resilient Viksit Bharat.

CURRENT AFFAIRS: AWARDS AND HONOURS

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

• International Women’s Day 2026 was celebrated across Maharashtra with various events such as rallies, sports competitions, awareness campaigns and cultural performances under the theme “Give to Gain.”
• Several districts organised marathons, bike rallies, sports events and vaccination drives to promote women’s empowerment, health awareness and community participation.
• A major highlight of the celebrations was a Guinness World Record Lezim dance performance held in Dombivli.
• A total of 9,111 women and girls from Dombivli and Kalyan performed the traditional Lezim dance simultaneously at the Savalaram Maharaj Sports Complex.
• The performance broke the previous world record of 7,338 participants, demonstrating collective participation of women while celebrating Maharashtra’s cultural heritage.
• Eknath Shinde, Deputy Chief Minister of Maharashtra, launched a Human Papillomavirus (HPV) vaccination campaign along with a special Pink Outpatient Department (OPD) service in Mumbai.
• The initiative aims to improve awareness and access to healthcare services for women and girls.
• 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.
• Various sports and fitness events were also organised, including Asmita Women’s League athletics competitions in cities such as Yavatmal, Nagpur, Chhatrapati Sambhajinagar and Dhule.
• In Nagpur, the municipal corporation organised a Pink Marathon at Yashwant Stadium to promote women’s participation in fitness activities.
• In Beed, hundreds of women, including schoolgirls and senior citizens, participated in a Women’s Marathon.
• In Gondia, a women’s bike rally was organised under the slogan “Respect for Her, Pride of Gondia”, where participants rode motorcycles while wearing traditional Nauvari sarees.
• In Sangli, around 15,000 schoolgirls received self-defence training under the Girl Empowerment initiative.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Institute of Technology Bombay Partners with Honeywell to Establish Centre of Excellence for Sustainability Skills

• Indian Institute of Technology Bombay partnered with Honeywell to establish a Centre of Excellence (CoE) for sustainability skills and innovation at its Powai Campus in Mumbai.
• The centre will be named the IIT Bombay–Honeywell Centre of Excellence for Future Skills and Innovation and aims to train over 100,000 students in sustainability-related fields by 2030 through industry–academia collaboration.
• The initiative is funded by the Honeywell Hometown Solutions India Foundation, the philanthropic arm of Honeywell in India.
• The Centre of Excellence will serve as a hub for developing advanced skills in sustainability, environmental technologies and green innovation.
• The programme will offer certificate-based courses combining academic learning with real-world projects to provide industry-oriented training.
• These programmes will be open to undergraduate, postgraduate and doctoral students from across India.
• The centre will support advanced laboratory infrastructure, procurement of modern equipment, curriculum development and research grants.
• The curriculum will focus on five key sustainability learning tracks:
  • Sustainability reporting
  • Sustainable finance
  • Energy security
  • Sustainable infrastructure
  • Policy advocacy
• The initiative will begin with a pilot phase, during which infrastructure will be developed, specialised course modules will be designed, and around 250 students will be trained initially.
• The programme aims to equip students with practical knowledge and skills required to address global sustainability challenges and support the transition to a green economy.

Bharat Electronics Limited Signs Memorandum of Understanding with Artificial Limbs Manufacturing Corporation of India to Support Divyaangans

• Bharat Electronics Limited – Chennai Unit (BEL-Chennai) signed a Memorandum of Understanding (MoU) with Artificial Limbs Manufacturing Corporation of India (ALIMCO) to provide assistive devices to Persons with Disabilities (Divyaangans) in Ramanathapuram District and Sivagangai District of Tamil Nadu.
• The MoU was signed by  I. Jayandran, General Manager of BEL-Chennai, and A. V. Ashok Kumar, Senior Manager and Unit Head of ALIMCO, in the presence of Vikraman N, Director (Human Resources) of BEL.
• Under this initiative, 709 Divyaangans will receive specially designed assistive devices and equipment aimed at improving mobility, accessibility and quality of life.
• The programme targets beneficiaries in aspirational districts to promote inclusive development and social empowerment.
• The collaboration highlights the role of technology-driven solutions in supporting persons with disabilities and creating equitable opportunities in underserved regions.
• Bharat Electronics Limited is a public sector enterprise under the Ministry of Defence specialising in defence electronics and technology solutions.
• Artificial Limbs Manufacturing Corporation of India (ALIMCO) is a non-profit Central Public Sector Enterprise (CPSE) engaged in manufacturing and supplying assistive devices and rehabilitation aids for persons with disabilities across India.

About BEL

• Headquarters: Bengaluru
• Founded: 1954, Bengaluru
• Chairman & Managing Director: Manoj Jain

Indian Institute of Technology Guwahati Signs Memorandum of Understanding with Coventry University Group for Artificial Intelligence and Healthcare Research

• The Indian Institute of Technology Guwahati (IIT-G) signed a Memorandum of Understanding (MoU) with the Coventry University Group (CUG), United Kingdom, to strengthen global research collaboration in artificial intelligence and healthcare.
• The agreement aims to promote academic mobility, joint research initiatives and collaborative degree programmes between the two institutions.
• The partnership is expected to expand India–United Kingdom cooperation in emerging technology sectors, particularly in the application of Artificial Intelligence (AI) in healthcare systems.
• The MoU establishes a long-term strategic partnership focused on research collaboration, innovation and academic engagement between India and the United Kingdom.
• A delegation from Coventry University Group, led by Richard Dashwood, Deputy Vice-Chancellor for Research, visited Indian Institute of Technology Guwahati to formalise the agreement and explore areas for joint academic development.
• The collaboration includes short-term exchange programmes for faculty members and students, encouraging knowledge sharing, research exposure and interdisciplinary collaboration.
• The partnership will introduce joint doctoral programmes, including a dual-award Doctor of Philosophy (PhD) structure under joint supervision by both institutions.
• Scholars will be able to work with supervisors from both universities and access combined academic and research resources.
• An important focus area of the collaboration is “Artificial Intelligence for One Health”, which aims to use Artificial Intelligence technologies to improve healthcare systems, disease surveillance and public health.
• The “One Health” concept recognises the interconnection between human health, animal health and environmental ecosystems.
• The initiative also aligns with India National Artificial Intelligence Mission, which promotes research, innovation and responsible use of Artificial Intelligence across sectors.
• Indian Institute of Technology Guwahati is one of the Indian Institutes of Technology established in 1994.
• The collaboration highlights the growing role of international academic partnerships in advancing artificial intelligence, biomedical research and digital healthcare innovation.

CURRENT AFFAIRS: RANKING AND REPORTS

Brand Finance Banking 500 Report 2026: Industrial and Commercial Bank of China Tops Global Banking Brand Ranking

• According to the Brand Finance Banking 500 Report 2026, the combined brand value of the world’s top 500 banking brands reached about 1.8 trillion US dollars in 2026, reflecting a 13% increase compared to 2025.
• Industrial and Commercial Bank of China (ICBC) ranked first globally for the tenth consecutive year, with a brand value of 90.9 billion US dollars and a AAA+ brand rating.
• Chinese banks dominated the top positions, with four banks occupying the top four ranks, showing China’s strong presence in global banking.
• United States banks also maintained a strong presence, with five banks featured in the global top ten list.
• HSBC of the United Kingdom returned to the top 10 ranking for the first time since 2019, recording a 21.2% increase in brand value.

Top 10 Most Valuable Banks in the World – 2026

• India has 19 banks included in the global ranking, with a combined brand value of 47.8 billion US dollars.
• HDFC Bank is the most valuable Indian banking brand, ranked 31st globally with a brand value of 12.4 billion US dollars.
• State Bank of India (SBI) ranked 56th globally with a brand value of 8.1 billion US dollars.
• State Bank of India is also ranked as the 16th strongest banking brand in the world and is the only Indian bank with a AAA+ brand strength rating.

India Submits 7th National Report to Convention on Biological Diversity

• India submitted its 7th National Report to the Convention on Biological Diversity (CBD) assessing progress toward 23 National Biodiversity Targets (NBTs) and 142 indicators aligned with the Kunming-Montreal Global Biodiversity Framework (KMGBF).
• The report states that only two out of 23 national biodiversity targets are currently on track, while the remaining targets have policy plans but lack quantitative evidence or clear projections for 2030.
• The report is India’s first full progress assessment since the adoption of the KMGBF in 2022, serving as a reality check on the country’s commitment to halt biodiversity loss by 2030.
• The report was prepared by the Ministry of Environment, Forest and Climate Change with inputs from 33 central ministries, Wildlife Institute of India, National Biodiversity Authority, and technical support from the United Nations Development Programme.
• Progress is monitored through 142 national indicators compiled via a digital NR7 data portal.
• NBT1 (Biodiversity-inclusive planning): Forest and tree cover increased to 25.17% (827,357 sq km), rising by 1,445.81 sq km between 2021 and 2023. Wetland inventories were completed, the PARIVESH 2.0 portal streamlined environmental approvals, and eco-sensitive zones were notified.
• NBT2 (Ecosystem Restoration): 24.1 million hectares of land have been restored or placed under restoration against India’s 26 million hectare pledge under the Bonn Challenge.
• Forest carbon stock increased by about 81.5 million tonnes, reaching 7,285.5 million tonnes, while mangrove cover increased modestly and bamboo area expanded by 1,540 sq km.
• Marine protected areas have expanded, and the government is identifying Other Effective Area-Based Conservation Measures (OECMs) beyond the formal protected area network.
• Land degradation remains a major challenge, with 29.77% of India’s geographical area (about 97 million hectares) undergoing degradation.
• Regarding the global “30x30” conservation target, only slightly over 5% of India’s geographical area is currently designated as formal protected areas, and the report does not clarify whether the 30% conservation goal by 2030 will be achieved.
• Species recovery success has been highlighted for flagship species such as tigers (3,167 population), Asiatic lions, rhinos, and the first national snow leopard assessment, but data on lesser-known species remains limited.
• Biodiversity monitoring faces data gaps, as information is spread across departments with no uniform data collection methods and different monitoring intervals.
• Limited financial resources and technical capacity, along with climate change impacts such as floods, droughts and forest fires, pose major challenges to biodiversity conservation.
• Agroforestry currently covers 8.65% of India’s land area, but the report lacks detailed quantitative analysis on pesticide reduction, nutrient runoff and invasive species control.
• The Kunming–Montreal Global Biodiversity Framework was adopted at COP15 of the CBD in December 2022 to halt and reverse biodiversity loss by 2030 and achieve living in harmony with nature by 2050.
• The framework includes four long-term goals for 2050 and 23 action targets for 2030, replacing the earlier Aichi Biodiversity Targets (2011–2020).
• The “30x30 target” (Target 3) aims to conserve at least 30% of terrestrial, inland water, coastal and marine areas globally by 2030 through protected areas and OECMs.
• The Convention on Biological Diversity, adopted at the Rio Earth Summit 1992, is a global treaty focusing on conservation of biodiversity, sustainable use of biological resources, and fair and equitable sharing of benefits from genetic resources.
• Key protocols under the CBD include the Cartagena Protocol on Biosafety (2000) for safe handling of Living Modified Organisms, and the Nagoya Protocol on Access and Benefit-Sharing (2010) for equitable sharing of benefits from genetic resources.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation and European Space Agency Ink Pact to Enhance Collaboration in Earth Observation Missions

• The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) virtually signed an agreement titled “ESA–ISRO Arrangement concerning Joint Calibration and Validation Activities and Scientific Studies for Earth Observation Missions.”
• The agreement was signed by M. Ganesh Pillai, Scientific Secretary of ISRO, and Simonetta Cheli, Director of Earth Observation Programmes at ESA.
• The objective of the agreement is to improve the accuracy and reliability of satellite data used for climate monitoring, environmental research, and Earth science studies.
• The ISRO–ESA cooperation began in 1978 and was renewed in 2002, strengthening long-term collaboration between the two major space agencies.
• The partnership covers multiple areas, including Earth Observation, navigation systems, ground station support, human spaceflight, deep-space communications, and support for missions like Chandrayaan and Aditya.
• ISRO’s Deep Space Antenna and ground station facilities have provided support for ESA and joint space missions.
• The agreement focuses on joint calibration and validation activities, which help ensure high-quality satellite observations and accurate scientific data.
• The collaboration will significantly contribute to global climate monitoring, environmental research, and disaster management by providing more precise and actionable satellite data.
• The agreement also supports the upcoming Fluorescence Explorer (FLEX) mission, an ESA Earth Explorer satellite mission.
• The FLEX mission aims to monitor global vegetation health by measuring chlorophyll fluorescence, helping scientists better understand vegetation biology and ecosystem health.
• The agreement reflects the strong and expanding cooperation between ISRO and ESA in space research, Earth observation, and future planetary and human spaceflight missions.

About ISRO:

• Established: 15 August 1969
• Headquarters: New Delhi, India
• Chairman: V. Narayanan

Researchers Develop Sunlight-Driven Method to Turn Plastic Waste into Acetic Acid

• Researchers at the University of Waterloo, Canada, have developed an innovative method to convert plastic waste into acetic acid, the main component of vinegar, using only sunlight.
• The breakthrough provides a promising solution to tackle plastic pollution while producing a valuable industrial chemical.
• The technique relies on a light-driven chemical reaction that breaks down plastic materials into useful compounds without requiring extreme heat or toxic chemicals.
• Sunlight-powered plastic conversion: The research team, led by Professor Yimin Wu, designed a photocatalysis system where sunlight acts as the primary energy source to transform plastic polymers into acetic acid.
• The reaction occurs at room temperature, making it more energy-efficient than traditional chemical recycling methods.
• This sunlight-driven approach avoids the release of additional carbon dioxide, offering a cleaner alternative for managing plastic waste.
• Inspired by natural fungal processes, the method mimics how certain fungi break down organic materials, with sunlight activating the catalyst to gradually degrade plastics into acetic acid.
• Successful results with common plastics: The process was tested on polyethylene (PE), polyethylene terephthalate (PET), polypropylene (PP), and polyvinyl chloride (PVC), successfully producing acetic acid from all.
• Among tested materials, PVC produced the highest yield, while polyethylene, used in plastic bags and bottles, also showed promising conversion results.
• The method works even on mixed plastic waste streams, indicating its potential for large-scale recycling applications.
• Global acetic acid production exceeds 17 million tonnes annually, primarily using fossil fuels like natural gas and coal. The sunlight-based technique offers a sustainable alternative.
• Acetic acid applications include food preservation, pharmaceuticals, solvents, and manufacturing industries.

CURRENT AFFAIRS : ENVIRONMENT

Stenothoe lowryi, a Rare Marine Amphipod, Found for the First Time in Indian Waters

• Marine science researchers from Berhampur University have recorded the presence of a rare shrimp-like marine amphipod species in Indian waters for the first time.
• The discovery was made at Arjyapalli in Odisha’s Ganjam district during a field survey of rocky coastal habitats.
• The species was identified as “Stenothoe lowryi”, which was previously reported only from Malaysia and whose distribution in other regions was largely unknown.
• The research was led by Shesdev Patro, Assistant Professor in the Department of Marine Science at Berhampur University, under the Mukhyamantri Research Innovation Extramural Programme (MRIEP) funded by the Odisha State Higher Education Council for the 2024–25 academic year.
• During fieldwork conducted in January 2025, researchers collected eight specimens from rocky coastal habitats at Arjyapalli, later confirmed as “Stenothoe lowryi”, marking its first recorded occurrence in Indian waters.
• The findings were published in the “Journal of the Marine Biological Association of the United Kingdom”.
• The species can be identified by its distinctive large claws and its preference for rocky marine environments, measuring approximately 5 millimetres in length.
• Amphipods, including Stenothoe lowryi, are small crustaceans related to shrimps, commonly found in marine ecosystems, and are believed to play an important role in the marine food web.
• Researchers have initiated further molecular and ecological studies to understand the species’ behaviour, habitat preferences, and evolutionary relationships.
• Earlier amphipod discoveries by Berhampur University researchers in Odisha include:
• Grandidierella geetanjalae from Chilika Lagoon near Rambha, named after Vice-Chancellor Geetanjali Dash (January 2025).
• Parhyale odian from Barkul in Chilika Lake, named after Odisha’s native language Odia (November 2022).
• These discoveries highlight the rich marine biodiversity along Odisha’s coastline.
• Chilika Lake in Odisha is one of Asia’s largest brackish water lagoons and is rich in biodiversity.

CURRENT AFFAIRS: SPORTS NEWS

Second Edition of World Para Athletics Grand Prix 2026 to be Held in New Delhi

• The second edition of the World Para Athletics Grand Prix 2026 – New Delhi will be held in New Delhi from March 11 to March 13, 2026.
• The international para-athletics event will feature around 257 athletes from eight countries, making it a major global para sports competition hosted by India.
• Participating countries include India, Russia, Nepal, Bhutan, Hong Kong, Serbia, Bosnia and Herzegovina and Egypt.
• India will field the largest contingent with about 219 athletes, competing in multiple track and field events across different sport classifications.
• Leading Indian para-athletes participating in the event include Mariyappan Thangavelu, Sumit Antil and Praveen Kumar, all of whom are Paralympic gold medallists.
• Other Indian athletes competing include Ajeet Singh, Devendra Singh Gurjar, Ankur Dhama, Simran (T12 sprinter) and Preeti Pal.
• Preeti Pal created history at the Paris Paralympics 2024 by winning two bronze medals in the women’s 100 metres and 200 metres T35 events.
• A key feature of the event is the availability of 74 international classification slots, which are essential for determining athlete eligibility in para sports competitions.
• The classification slots include 39 for athletes with physical impairments, 29 for athletes with vision impairments and 6 for athletes with intellectual impairments.
• These classification opportunities will help many Indian athletes obtain or confirm international classification required for major global competitions.
• In the first edition of the New Delhi World Para Athletics Grand Prix held in 2025, India finished first in the medal tally.
• Indian athletes won 134 medals, including 45 gold, 40 silver and 49 bronze medals, with around 150 Indian athletes participating in the event.

CURRENT AFFAIRS : OBITUARIES

Vir Chakra Awardee and 1965 India–Pakistan War Veteran K.G. George Passed Away

• Lance Havildar (retd) K.G. George, a Vir Chakra (VC) awardee of the 1965 India–Pakistan War, passed away in Kottayam, Kerala, at the age of 95.
• He was born in February 1931 in Kerala.
• He served in the Indian Army (IA) in the Corps of Signals, the army’s communication arm, which was established on 15 February 1911.
• The Corps of Signals has played a major role in transforming communication systems of the Indian Army and has adapted to the digital revolution of the 21st century.
• During the 1965 India–Pakistan War, he showed exceptional bravery by restoring disrupted communication lines under heavy enemy shelling and air strafing in the Wagah Sector.
• Between 6–10 September 1965, he led his section to repair communication links despite continuous enemy attacks.
• On the night of 8–9 September 1965, he risked his life to establish a vital communication link between the Brigade Headquarters and forward battalions during an enemy attack.
• For his extraordinary courage and devotion to duty, he was awarded the Vir Chakra, which is India’s third-highest wartime gallantry award.
• He retired from the Indian Army as a Lance Havildar and remained recognised for his significant contribution to India’s military history.

Daily CA One- Liner: March 11

• The India Government has officially notified standards for green ammonia and green methanol under the National Green Hydrogen Mission to accelerate the adoption of hydrogen-based fuels and support the transition to cleaner energy systems
• The Uttar Pradesh Government launched Project GANGA to provide high-speed internet connectivity to more than 20 lakh rural households over the next two to three years
• The India Government announced that the country’s inter-regional power transmission capacity will increase to 143 Gigawatts (GW) by 2027 to strengthen electricity flow across regions
• Prime Minister Shri Narendra Modi, inaugurated the 11th edition of the Raisina Dialogue in New Delhi.
• International Women’s Day 2026 was celebrated across Maharashtra with various events such as rallies, sports competitions, awareness campaigns and cultural performances under the theme “Give to Gain.”
• Indian Institute of Technology Bombay partnered with Honeywell to establish a Centre of Excellence (CoE) for sustainability skills and innovation at its Powai Campus in Mumbai
• Bharat Electronics Limited – Chennai Unit (BEL-Chennai) signed a Memorandum of Understanding (MoU) with Artificial Limbs Manufacturing Corporation of India (ALIMCO) to provide assistive devices to Persons with Disabilities (Divyaangans) in Ramanathapuram District and Sivagangai District of Tamil Nadu
• The Indian Institute of Technology Guwahati (IIT-G) signed a Memorandum of Understanding (MoU) with the Coventry University Group (CUG), United Kingdom, to strengthen global research collaboration in artificial intelligence and healthcare
• According to the Brand Finance Banking 500 Report 2026, the combined brand value of the world’s top 500 banking brands reached about 1.8 trillion US dollars in 2026, reflecting a 13% increase compared to 2025
• India submitted its 7th National Report to the Convention on Biological Diversity (CBD) assessing progress toward 23 National Biodiversity Targets (NBTs) and 142 indicators aligned with the Kunming-Montreal Global Biodiversity Framework
• The second edition of the World Para Athletics Grand Prix 2026 – New Delhi will be held in New Delhi from March 11 to March 13, 2026
• The Financial Action Task Force (FATF) issued updated public statements on 13 February 2026 identifying jurisdictions with weaknesses in anti-money laundering (AML) and counter-terrorist financing (CFT)
• HDFC Bank Limited and Swiggy, a food delivery and quick commerce platform, jointly launched two new co-branded credit cards: Swiggy BLCK HDFC Bank Credit Card and Swiggy Ornge HDFC Bank Credit Card.
• Jammu and Kashmir Bank (J&K Bank) has partnered with two non-banking financial companies (NBFCs) to expand its retail lending business, especially outside Jammu and Kashmir.
• Sena Latif, Ambassador of Romania, submitted the Instrument of Ratification to P.S.Gangadhar, Joint Secretary and Head of Depository at the Ministry of External Affairs (MEA), confirming Romania’s ratification of the Framework Agreement of the International Solar Alliance (ISA).
• Alexander Stubb, President of Finland, paid a four-day State Visit to India from 4–7 March 2026 at the invitation of Prime Minister Narendra Modi, accompanied by a high-level delegation.
• The Reserve Bank of India (RBI) approved the appointment of Ketan Merchant, Chief Financial Officer (CFO) of Fino Payments Bank, as the Interim Chief Executive Officer (CEO) of the bank.
• Mojtaba Khamenei was appointed as the Supreme Leader of Iran by the Assembly of Experts following the death of his father, Ali Khamenei, in airstrikes.
• Phanindranath Kakarla has taken charge as Chief Executive Officer and Managing Director (CEO & MD) of Asset Reconstruction Company (India) Limited (Arcil) with effect from 8 March 2026.
• The United States and South Korea began a large joint military exercise named Freedom Shield on 9 March 2026.
• Raksha Mantri Shri Rajnath Singh released ‘Defence Forces Vision 2047: A Roadmap for a Future-Ready Indian Military’ at South Block, New Delhi on March 10, 2026.
• The Indian Space Research Organisation (ISRO) and the European Space Agency (ESA) virtually signed an agreement titled “ESA–ISRO Arrangement concerning Joint Calibration and Validation Activities and Scientific Studies for Earth Observation Missions.”
• Researchers at the University of Waterloo, Canada, have developed an innovative method to convert plastic waste into acetic acid, the main component of vinegar, using only sunlight.
• Marine science researchers from Berhampur University have recorded the presence of a rare shrimp-like marine amphipod species in Indian waters for the first time.
• Lance Havildar (retd) K.G. George, a Vir Chakra (VC) awardee of the 1965 India–Pakistan War, passed away in Kottayam, Kerala, at the age of 95.