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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Seven public sector banks Implement 32 Generative AI Applications under EASE 8.0 Banking Reforms

• Seven public sector banks (PSBs) have deployed 32 generative AI use cases under the EASE 8.0 programme as part of the government’s banking reform push.
• These initiatives aim to improve operational efficiency, enhance credit appraisal, and reimagine business models by leveraging India’s Digital Public Infrastructure (DPI).
• Ten PSBs have formulated formal AI policies, with the current reform round promoting agentic AI to automate complex workflows and enable faster, data-driven decision-making.
• The Enhanced Access and Service Excellence (EASE) reforms, led by the Department of Financial Services (DFS), are designed to modernise state-run banks through upgrades in governance, technology, and risk management.
• The next phase of reforms, branded EASErise (2025-26), will focus on fortifying risk-management systems, enhancing PSBs’ resilience to economic shocks, and safeguarding financial stability.
• Under EASE 8.0, generative AI applications are being applied across bank operations and credit processes, including credit appraisal by analyzing business details, financial statements, credit history, and repayment records to reduce manual effort and ensure consistent assessments.
• Around nine PSBs have introduced digital systems for operational risk management, and most PSBs now follow standard procedures for Expected Credit Loss (ECL) calculations using data from full economic cycles and macroeconomic projections.
• Focus areas under EASE 8.0 include digital underwriting tools, closer credit monitoring, shorter processing times, and technology-led monitoring to identify early signs of stress in loan portfolios.
• The EASErise (2025-26) programme will continue to emphasize digital adoption, tighter risk frameworks, and faster credit processes, building on previous technology, governance, and risk control improvements.

Axis Bank Partners with IndiGo to Launch Co-branded Travel and Lifestyle Credit Cards

• Axis Bank Limited, India’s 3rd largest private sector bank, partnered with IndiGo (InterGlobe Aviation Limited) to launch two co-branded travel and lifestyle credit cards — IndiGo Axis Bank Credit Card and IndiGo Axis Bank Premium Credit Card.
• The credit cards provide rewards through IndiGo’s loyalty programme – IndiGo BluChip.
• The IndiGo Axis Bank Credit Card is priced at ₹799 (including GST) and is targeted at retail customers, offering a balanced mix of travel and lifestyle benefits across major spending categories.
• The IndiGo Axis Bank Premium Credit Card is priced at ₹5,000 (including GST) and is designed for affluent customers seeking enhanced travel privileges and premium lifestyle benefits.
• Both credit cards are available on the RuPay network and Visa network.
• IndiGo Axis Bank Credit Cardholders will receive a 1,200 BluChips voucher on joining and renewal, along with benefits such as complimentary domestic airport lounge access and accelerated rewards on UPI (Unified Payments Interface) transactions.
• IndiGo Axis Bank Premium Credit Cardholders will receive vouchers worth 5,000 BluChips on joining and renewal, along with complimentary domestic and international airport lounge access.
• The Premium Credit Card also offers a reduced forex markup of 2.5% on international transactions, making it suitable for frequent international travellers.

About Axis Bank:

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

ASK Asset & Wealth Management Gets SEBI Nod to Enter Mutual Fund Business

• ASK Asset & Wealth Management Group, a leading financial services company, received regulatory approval from Securities and Exchange Board of India (SEBI) to operate as an investment manager for the Mutual Fund (MF) business in India.
• This makes ASK Asset & Wealth Management the 52nd fund house to join India’s Mutual Fund sector, which has registered Assets Under Management (AUM) of ₹81 lakh crore as of January 31, 2026.
• In March 2025, ASK Asset & Wealth Management had received in-principle approval from SEBI to launch its Mutual Fund business.
• The approval allows the company to design, launch, and manage MF schemes across a wide spectrum of investment products.
• With the MF license, ASK can expand its offerings beyond Portfolio Management Services (PMS), Alternative Investment Funds (AIFs), and private wealth, to include active equity, passive strategies, hybrid, and fixed income products.
• The new MF platform will enable the company to cater to all investor categories, including first-time retail investors, long-term savers, High Net Worth Individuals (HNIs), and institutional participants.

Reserve Bank of India to Make Unique Transaction Identifier Mandatory for Over-the-Counter Derivatives from January 1, 2027

• The Reserve Bank of India (RBI) has mandated the use of Unique Transaction Identifier (UTI) for all Over-the-Counter (OTC) derivative transactions from January 01, 2027, deferring from the earlier proposed date of April 01, 2026.
• The RBI issued these directions under Section 45W and Section 45U of the RBI Act, 1934, exercising all powers enabling it in this regard.
• As per RBI, the UTI must be generated in line with global guidance issued by the Committee on Payments and Market Infrastructures (CPMI) and the International Organisation of Securities Commissions (IOSCO).
• The UTI structure can have a maximum of 52 characters, which must include the Legal Entity Identifier (LEI) (a 20-character code) of the entity generating it.
• RBI clarified that modifications to contract details will be treated as updates and do not require generation of a new UTI.
• Currently, all OTC market transactions for Rupee interest rate derivatives, forward contracts in Government securities, foreign currency derivatives, foreign currency interest rate derivatives, and credit derivatives are reported to the Trade Repository managed by Clearing Corporation of India Limited (CCIL-TR).
• From January 01, 2027, the UTI will be mandatory for all OTC derivative transactions entered into on or after the effective date.
• The RBI deferred implementation to obtain a comprehensive view of the OTC derivatives market before full rollout and to allow market participants time to build technical capabilities.

Recent News :

• In Feb 2026, The Reserve Bank of India (RBI) proposed mandatory reporting of Over-the-Counter (OTC) foreign exchange and interest rate derivative contracts by Authorised Dealer Category-I (AD Cat-I) banks.

Union Budget 2026–27 Allocates ₹5.01 Lakh Crore to Gender Budget, Up 11.55% from Previous Year

• Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27, highlighting a significant rise in gender-focused allocations.
• The Gender Budget allocation increased to 9.37% of the total Union Budget in FY 2026–27, up from 8.86% in FY 2025–26, indicating a stronger policy focus on women’s welfare.
• The Gender Budget Statement (GBS) earmarked ₹5.01 lakh crore for women and girls, marking an 55% increase over ₹4.49 lakh crore in FY 2025–26.
• Top Ministries/Departments with more than 30% of their allocations in the Gender Budget include:
• Ministry of Women & Child Development (81.73%)
• Department of Rural Development (69.92%)
• Ministry of Development of North Eastern Region (48.60%)
• A total of 53 Ministries and Departments and five Union Territories (UTs) reported allocations in FY 2026–27, compared to 49 Ministries/Departments and five UTs in the previous year, marking the highest reporting since inception.
• Four new Ministries and Departments reported Gender Budget allocations in the current fiscal, reflecting increased coverage and focus on women’s welfare.

India Raises Climate Action Spending to 5.6% of Gross Domestic Product, Finance Minister Nirmala Sitharaman Confirms

• Union Finance Minister Nirmala Sitharaman stated that India has increased its climate action spending to nearly 5.6% of Gross Domestic Product (GDP), up from 3.7 per cent six years ago.
• India emphasised the principle of climate equity, stating that nations with historically lower emissions should not bear an equal financial burden in addressing climate change.
• India has achieved two-thirds of its renewable energy commitments under its Nationally Determined Contributions (NDCs), showing strong progress toward climate goals.
• Sitharaman highlighted that India is using its own resources while also seeking global technology and funds to meet its climate targets.
• The Finance Minister called for a balanced approach focusing equally on resilience and adaptation alongside emission control to safeguard human lives and livestock.
• Union Budget 2026-27 includes funding and incentives for carbon capture strategies (including a ₹20,000-crore outlay) to help businesses reduce carbon footprint and support India’s transition to a greener economy.
• Renewable energy efforts are being promoted across the mainland and remote areas to accelerate sustainable development and carbon reduction.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India France National Centre of Excellence in Aeronautics and Defence to be Set Up in Kanpur

• Prime Minister Narendra Modi announced the establishment of a National Centre of Excellence for Skilling in Aeronautics and Defence at Kanpur, Uttar Pradesh during a joint press statement with the President of France while inaugurating the India France Year of Innovation.
• The initiative strengthens India France strategic partnership in advanced technology, defence manufacturing and skill development.

Key Highlights

• The National Centre of Excellence in Aeronautics and Defence will be set up at National Skill Training Institute Kanpur, Uttar Pradesh.
• The Centre will provide industry aligned training in aeronautics, maintenance repair and overhaul, airport operations, defence manufacturing, space and allied sectors.
• It aims to create a pipeline of globally competent aviation and defence professionals aligned with international standards.
• The Centre will be established under the Prime Minister Skill Development and Employment Transformation Scheme, with a total outlay of ₹60,000 crore.
• The scheme aims to upgrade 1,000 Industrial Training Institutes across India, modernise infrastructure and align curriculum with industry needs.
• Additional National Centres of Excellence are proposed at Ludhiana, Hyderabad, Chennai and Bhubaneswar based on regional industrial strengths.
• A Letter of Intent was exchanged between the Ministry of Skill Development and Entrepreneurship and the Government of the French Republic to strengthen cooperation.
• The initiative builds upon the Memorandum of Understanding signed in 2025 in the field of skill development and vocational education and training.
• Areas of collaboration include co designed curriculum, training of trainers, joint programme reviews, student and faculty exchange, language training and structured mobility pathways.
• The initiative supports the vision of Viksit Bharat 2047 by building a skilled workforce for high precision sectors such as aeronautics and defence manufacturing.

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

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. 

India Joins United States Led Pax Silica Coalition for Artificial Intelligence and Semiconductor Supply Chains

• India has officially joined Pax Silica, a United States led strategic coalition aimed at building secure and resilient supply chains for Artificial Intelligence, semiconductors and critical minerals.
• The declaration was signed in the presence of Ashwini Vaishnaw, Union Minister for Electronics and Information Technology, and Sergio Gor, United States Ambassador.
• The move marks a major milestone in India United States strategic cooperation in advanced technology and semiconductor manufacturing.

Key Highlights

• Pax Silica is a United States led coalition launched in December 2025 to strengthen global supply chains for Artificial Intelligence infrastructure, semiconductors and critical minerals.
• The initiative focuses on developing a secure full silicon stack ecosystem and reducing dependence on unreliable sources.
• India’s participation strengthens its role in the global semiconductor and Artificial Intelligence value chain.
• Ashwini Vaishnaw stated that India is designing two nanometer semiconductor chips domestically, reflecting advanced technological capability.
• Around ten semiconductor plants are operational or under development in India, enhancing manufacturing capacity.
• The coalition aims to ensure economic security, innovation driven growth and trusted industrial partnerships among member nations.
• Artificial Intelligence is recognised as a transformative force driving new markets, infrastructure expansion and energy demand.
• The founding summit of Pax Silica was held in Washington and outlined cooperation in manufacturing and next generation technologies.
• Member nations include Australia, Japan, Israel, Singapore, United Arab Emirates and United Kingdom.
• India’s membership is expected to boost electronics manufacturing, semiconductor fabrication, research opportunities and employment for engineers and youth.

New Delhi Frontier AI Impact Commitments Launched at India AI Impact Summit 2026

• At the India AI Impact Summit 2026, Union Minister for Electronics and Information Technology Ashwini Vaishnaw announced the New Delhi Frontier AI Impact Commitments.
• The initiative aims to promote inclusive, multilingual and responsible Artificial Intelligence development, with a special focus on the Global South.
• The commitments bring together leading frontier AI companies and Indian innovators to ensure AI systems are developed with human safety, equity and national priorities at the core.

Key Highlights

• The initiative was announced at the India AI Impact Summit 2026 by Ashwini Vaishnaw, Union Minister for Electronics and Information Technology.
• India’s AI strategy is based on three pillars: Democratisation of technology, deployment at population scale and national sovereignty in AI systems.
• India is building capabilities across five layers of the AI stack: Applications, Models, Compute infrastructure, Talent development and Energy support.
• The commitments are voluntary collaborative pledges by global and Indian AI companies to promote responsible and culturally inclusive AI systems.
• Participating Indian organisations include Sarvam AI, BharatGen, ai and Soket AI.
• The first commitment focuses on generating anonymised and aggregated insights on real world AI usage, including its impact on jobs, skills, productivity and economic transformation.
• The second commitment emphasises multilingual and culturally sensitive AI systems, including development of datasets in under represented languages and cross cultural evaluation benchmarks.
• The initiative seeks to ensure ethical AI development, reduction of bias and equitable access to AI technologies worldwide.
• India aims to position itself as a leader advocating AI that is inclusive, safe and aligned with Global South priorities.

Assam Cabinet Approves 3 Percent Reservation for Tea Tribes and Expands Mukhyamantri Mahila Udyamita Abhiyaan Scheme

• The Assam Cabinet has approved 3 percent reservation for Tea Tribes and Adivasi communities in Class One and Class Two state government jobs within the Other Backward Classes quota.
• The Cabinet also expanded the Mukhyamantri Mahila Udyamita Abhiyaan scheme by adding 1,07,532 additional women beneficiaries.
• The decisions were announced by Chief Minister Himanta Biswa Sarma ahead of the 2026 Assam Legislative Assembly elections.

Key Highlights

• 3 percent reservation granted to Tea Tribes and Adivasi communities in Class One and Class Two government posts under the Other Backward Classes quota.
• Earlier, reservation benefits for these communities were limited to Grade Three and Grade Four posts.
• The new provision will apply immediately to upcoming recruitment advertisements.
• The decision aims to improve representation in state civil services and higher academic positions.
• The Mukhyamantri Mahila Udyamita Abhiyaan scheme has been expanded to include 1,07,532 additional Self Help Group members.
• So far, 32 lakh women have received 10,000 rupees each under the scheme to promote entrepreneurship and financial independence.
• The scheme focuses on strengthening Self Help Groups, encouraging small business activities and enhancing rural income generation.
• Tea Tribes and Adivasi communities in Assam trace their origins to tribal groups brought during the colonial period to work in tea plantations.
• The policy aims to improve social mobility, employment access and administrative representation of these communities.

About Assam:

• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary

RECENT NEWS

• Prime Minister Narendra Modi inaugurated major infrastructure projects in Assam, including the Kumar Bhaskar Varma Setu over the Brahmaputra River in Guwahati and the Northeast’s first Emergency Landing Facility (ELF) on a national highway in Dibrugarh district.

India Attends United States Gaza Board of Peace Meeting as Observer

• India participated as an observer in the inaugural Gaza Board of Peace meeting convened by United States President Donald Trump.
• The meeting focused on Gaza reconstruction and regional stabilisation. India was represented by Namgya C Khampa, Deputy Chief of Mission in Washington District of Columbia. More than 40 countries and the European Union attended the meeting.

Key Highlights

• The Gaza Board of Peace was convened to focus on Gaza reconstruction, mobilisation of an international stabilisation force and development of a structured peace framework.
• The meeting was hosted at the Donald J. Trump Institute of Peace in Washington District of Columbia.
• India attended as an observer and not as a formal board member, reflecting its balanced diplomatic approach.
• Other observer countries included Germany, Italy, Norway, Switzerland and United Kingdom.
• Pakistan Prime Minister Shehbaz Sharif participated as a board member.
• During the meeting, President Donald Trump reiterated his claim of intervening in a previous India Pakistan conflict by threatening 200 percent trade tariffs.
• India officially denied any external mediation and maintained that de-escalation occurred after direct talks between the Directors General of Military Operations of both countries.
• The core agenda included post conflict reconstruction in Gaza, peacekeeping mechanisms and international funding mobilisation.
• India continues to support a two state solution, peaceful dialogue and humanitarian assistance in the Israel Palestine issue while maintaining strategic autonomy.

Andhra Pradesh Secures India’s Largest Lithium-Ion Battery Gigafactory

• In a major clean energy development, Andhra Pradesh has secured India’s largest integrated lithium-ion battery Gigafactory by Waaree Energies with an investment of Rupees 8,175 crore.
• The project will be established at Rambilli in Anakapalli district with a planned production capacity of 16 Gigawatt hours, and is expected to generate around 3,000 direct jobs.

Key Highlights

• Waaree Energies will set up a greenfield Lithium-Ion Battery Gigafactory with 16 Gigawatt hour production capacity.
• The facility will cover the entire battery value chain including cell manufacturing, battery pack assembly and large-scale Battery Energy Storage Systems production.
• The project received in-principle approval from the Andhra Pradesh State Investment Promotion Board.
• The investment board meeting was chaired by N. Chandrababu Naidu.
• The Gigafactory will be located at Rambilli in Anakapalli district, providing strategic coastal and industrial advantages.
• The project aligns with the Integrated Clean Energy Policy of Andhra Pradesh to promote advanced energy manufacturing.
• Large-scale lithium-ion battery production is crucial for renewable energy storage, electric vehicle expansion, grid stability and national energy security.
• The facility will help reduce dependence on imported battery cells and strengthen domestic manufacturing capacity.
• The project is expected to create approximately 3,000 direct employment opportunities, along with indirect jobs in logistics, engineering and supply chain sectors.
• A Gigafactory is a large-scale battery manufacturing facility measured in Gigawatt hours, designed to support electric vehicles and grid-scale energy storage systems.

About Andhra Pradesh:

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

RECENT NEWS

• The Andhra Pradesh government is set to launch the ambitious Amaravati Quantum Valley (AQV) project on February 7, 2026, marking a major step in India’s quantum technology journey. The project aims to position Andhra Pradesh as a global hub for quantum research, innovation, talent development, and industry collaboration.

CURRENT AFFAIRS : INTERNATIONAL NEWS

India and Nepal Sign Agreement for Mutual Legal Assistance in Criminal Matters

• The Government of India (GoI) signed a Mutual Legal Assistance Agreement on Criminal Matters with Nepal in Kathmandu, Nepal.
• The agreement was signed by Binod Kumar Bhattarai, Joint Secretary of Nepal, and Naveen Srivastava, Indian Ambassador to Nepal.
• The agreement aims to strengthen cross-border law enforcement, combat transnational crimes, and facilitate smooth judicial cooperation between India and Nepal.
• It provides a legal framework for the two countries to share information and evidence relevant to criminal cases, and coordinate investigations, prosecutions, and judicial proceedings in criminal matters across borders.
• The agreement addresses various transnational crimes such as financial fraud, money laundering, terrorism-related offences, trafficking, and cybercrime.
• Each country will designate a Central Authority (in India, typically the Ministry of Home Affairs) to send and receive legal assistance requests, which will be processed through official legal and diplomatic channels.

About Nepal:

• Capital: Kathmandu
• Currency: Nepalese rupee (NPR)
• President: Ram Chandra Poudel
• Prime Minister: Sushila Karki

CURRENT AFFAIRS : DEFENCE NEWS

Prime Minister Narendra Modi and French President Emmanuel Macron virtually launch H-125 Light Utility Helicopter Final Assembly Line at Vemagal, Karnataka

• Prime Minister Narendra Modi and French President Emmanuel Macron virtually inaugurated the Tata Advanced Systems Limited (TASL) Final Assembly Line (FAL) of the Airbus H-125 Light Utility Helicopter at Vemagal, Karnataka, from Mumbai.
• The inauguration ceremony was attended by Raksha Mantri Rajnath Singh, French Minister Catherine Vautrin, Union Civil Aviation Minister K.R. Naidu, and Karnataka Minister Dr M. B. Patil.

Key Highlights :

• The H-125 Final Assembly Line was described as a milestone in the India–France strategic partnership, strengthening defence and aerospace cooperation.
• The project marks a major collaboration between TASL and Airbus Helicopters, following their earlier partnership for manufacturing the C-295 transport aircraft in India.
• The initiative significantly supports the Government’s flagship programmes Make in India and Aatmanirbhar Bharat, aimed at achieving self-reliance in critical technologies.
• The H-125 programme investment is expected to exceed ₹1,000 crore, creating substantial direct and indirect employment opportunities for skilled youth.
• The Airbus H-125 is a single-engine Light Utility Helicopter known for its exceptional reliability, versatility, and outstanding performance in diverse operating conditions.
• The H125M variant is optimized for high-altitude operations, tactical reconnaissance and surveillance, low acoustic and thermal signature missions, high-altitude logistics support, search and rescue (SAR), and medical evacuation (MEDEVAC).
• The H-125 is the only helicopter in history to land on the summit of Mount Everest, highlighting its superior high-altitude capability.
• The Government has undertaken major defence sector reforms, including the corporatisation of Ordnance Factories, liberalised investment policies, and the establishment of Defence Industrial Corridors.
• The private sector’s share in India’s total defence production has increased to nearly 25%, while defence exports have grown manifold, placing India among the top defence exporters
• The defence ecosystem has expanded to over 16,000 MSMEs, with several foreign companies sourcing components from Indian MSMEs, boosting domestic manufacturing capacity.
• The initiative reflects India’s broader push for rapid industrial development, supported by schemes like the Production Linked Incentive (PLI) and a liberalised investment regime.
• This project represents the second major TASL–Airbus industrial collaboration, after the C-295 military transport aircraft Final Assembly Line, contributing to the development of a comprehensive military aerospace ecosystem in India.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Bengaluru Startup Sarvam AI Unveils India’s First Indigenous large language models: Sarvam-30B and Sarvam-105B

• Bengaluru-based startup Sarvam AI has launched two indigenous large language models (LLMs)—Sarvam-30B and Sarvam-105B—that are fully developed in India.

Key Highlights :

• The Indian Government selected Sarvam AI in April 2025 under the IndiaAI Mission to create the nation’s first autonomous large language model.
• The Sarvam-30B model offers reduced latency, economical implementation, and is ideal for real-time conversational use cases with a 32,000-token context window and pre-training on 16 trillion tokens.
• The Sarvam-105B model is designed for advanced corporate operations and complex reasoning, featuring 105 billion parameters and a 128,000-token context window, enabling long-form tasks and deeper reasoning.
• The models support all 22 Indian languages and are optimised for voice-first interaction, facilitating multilingual AI applications for wider accessibility.
• Milestones shared at the launch show Sarvam models performing competitively against international models such as Gemma 27B, Mistral-32-24B, Nemotron-30B, Qwen-30B, and GPT-OSS-20B, excelling in mathematical reasoning, coding accuracy, and general problem-solving.
• Vikram, Sarvam’s AI chatbot, demonstrated capabilities in multiple Indian languages including Hindi and Punjabi, named in honour of Vikram Sarabhai, the Indian physicist and astronomer.
• Sarvam AI is building India’s first sovereign LLM ecosystem, including an open-source 120 billion parameter AI model to enhance governance and public service access through initiatives like 2047: Citizen Connect and AI4Pragati.
• Other Indian AI startups like Soket, Gnani, and Gan AI are developing multilingual foundation models ranging from 70 billion to 120 billion parameters, targeting defense, healthcare, education, and text-to-speech
• The launch aligns with OpenAI’s IndQA benchmark and Anthropic’s Claude model for Indic languages, strengthening AI models’ understanding and reasoning in Indian linguistic and cultural contexts.
• Sarvam AI has raised $50 million in funding, supported by investors including Khosla Ventures, Lightspeed Venture, and Peak XV.

Union Minister Kiren Rijiju Launches NIGRANI App, Haj Wrist Band, and AI Chatbots at Minority Affairs Chintan Shivir

• The Ministry of Minority Affairs organized a two-day National Chintan Shivir at Nalanda University, Rajgir, Bihar, to formulate a policy roadmap for minority welfare and socio-economic empowerment.
• The Ministry showcased achievements through flagship schemes like PMJVK, PMVIKAS, NMDFC, UMEED Central Portal, and Haj Modernization, aligning with the vision of Viksit Bharat @2047.
• Union Minister Shri Kiren Rijiju launched the NIGRANI App under the PMJVK Scheme, aimed at bridging infrastructural gaps and ensuring transparency and real-time monitoring.
• Shri Rijiju also launched the Haj Wrist Band and AI Chatbots to enhance digital governance and citizen services for pilgrims.
• The Chintan Shivir emphasized Centre-State coordination, stakeholder participation, and grassroots implementation of welfare schemes.
• Union MoS Shri George Kurian highlighted the role of PMJVK, PMVIKAS, NMDFC, UMEED, and Haj initiatives in contributing to Atmanirbhar Bharat.
• Secretary Shri Chandra Shekhar Kumar appreciated the support of the Bihar Government and emphasized the historic importance of Nalanda University.
• The event promoted Citizen Participation through Sabka Sath, Sabka Vikas, Sabka Vishvaas, Sabka Prayaas, and encouraged Jan Bhaagidari (Public-Private-Community Partnership).
• Leaders from Nagaland, Arunachal Pradesh, Sikkim, and Tripura appreciated schemes like PMJVK and PMVIKAS for bridging skilling gaps and supporting community development.
• The Shivir conducted Focused Group Discussions (FGDs) on five themes:
• Infrastructure Development (PMJVK)
• Socio-economic Empowerment (PMVIKAS + NMDFC)
• Waqf Management
• Haj Management
• Scholarship Schemes
• The sessions encouraged peer learning and collaborative problem-solving to generate insights for future policy improvements.

Indian Institute of Technology Madras Global Research Foundation Launches First International AI Innovation Centre in Dubai, United Arab Emirates

• The Indian Institute of Technology (IIT) Madras Global Research Foundation launched its first international Applied Artificial Intelligence (AI) Innovation Centre at Dubai CommerCity, Dubai,United Arab Emirates (UAE).
• The agreement to establish the AI Innovation Centre was signed on the sidelines of WORLDEF Dubai 2026 (held from February 12–14, 2026).
• In its initial phase, the Centre will host six applied AI startups with a combined valuation of USD 118 million and projected revenues of USD 281 million over five years.
• The Centre will focus on product development, accelerating AI solution deployment, Intellectual Property (IP) creation, innovation generation, and partnerships with industry, governments, and ecosystem stakeholders.
• Backed by MCA Gulf, the Centre aims to position Dubai as a global hub for applied AI by supporting the development and scaling of innovative AI solutions through a sustainable platform.
• The initiative aligns with India-UAE cooperation frameworks, including the Comprehensive Economic Partnership Agreement (CEPA) and the Dubai Economic Agenda D33.

TVS Supply Chain Solutions Signs Memorandum of Understanding with ALA Group to Strengthen Aerospace and Defence Supply Chain Operations

• TVS Supply Chain Solutions (TVS SCS) signed a Memorandum of Understanding (MoU) with ALA Group, an Italy-based aerospace and defence supply chain integrator, to jointly tap India’s USD 28 billion Aerospace & Defence (A&D) supply chain market.
• The MoU aims to develop integrated supply chain services across the production and aftermarket lifecycles in the Aerospace & Defence (A&D)
• The collaboration will provide services including Production Support (PS), Spare Parts Distribution (SPD), Inventory Optimisation (IO), Defence-grade Logistics (DGL), Logistics Engineering (LE), and Maintenance, Repair, and Overhaul (MRO).
• The partnership will initially target India’s Aerospace & Defence sector, aligned with Defence Offset Programmes (DOP), with plans for phased global expansion.
• The companies will offer end-to-end certified solutions, covering complex assembly logistics, regulated procurement, digital inventory management, and spare parts supply to Original Equipment Manufacturers (OEMs).
• The services will include defence-compliant engineering solutions aligned with North Atlantic Treaty Organization (NATO) Stock Numbers (NSN)
• The collaboration is expected to strengthen India’s domestic aerospace and defence ecosystem through indigenisation, regulatory compliance, digitalisation, global supply chain integration, and enhanced participation in international A&D value chains.

Indian Institute of Corporate Affairs Sets Up High-Level Advisory Group on Ease of Doing Business Headed by Gyaneshwar Kumar Singh

• The Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs (MCA), set up a high-level Advisory Group on Ease of Doing Business (EoDB) to strengthen and modernise India’s corporate regulatory framework, particularly compliance under the Companies Act, 2013.
• The Advisory Group is chaired by Gyaneshwar Kumar Singh, Director General (DG) & CEO of IICA.
• The School of Business Environment (SoBE), IICA, will serve as the Secretariat to the Advisory Group, supporting research, consultations, and coordination activities.
• As part of the reform initiative, IICA signed a Memorandum of Understanding (MoU) with MCA to conduct a research study titled “Re-envisioning Ease of Doing Business for Viksit Bharat 2047”.
• IICA renewed its MoU with NALSAR University of Law, Hyderabad (Telangana) for another five years to strengthen academic collaboration and research.
• The renewed MoU was signed by Gyaneshwar Kumar Singh, DG & CEO of IICA, and Srikrishna Deva Rao, Vice-Chancellor of NALSAR.

VoicERA Launched on BHASHINI Platform for Multilingual Voice AI at India AI Impact Summit 2026

• The Ministry of Electronics and Information Technology (MeitY) launched VoicERA, an open-source, end-to-end Voice AI stack, at the India AI Impact Summit 2026.
• The initiative is led by the Digital India BHASHINI Division under the Digital India Corporation (DIC), strengthening India’s Digital Public Infrastructure (DPI) for multilingual voice technologies.
• VoicERA is deployed on the BHASHINI National Language Infrastructure, creating a national execution layer for Voice and Language AI.
• The platform is open, modular, interoperable, cloud-deployable, and on-premise ready, enabling secure and scalable deployment across government departments, research institutions, and innovation ecosystems.
• By reducing duplication of effort and avoiding vendor lock-in, VoicERA accelerates the development of inclusive, voice-enabled digital services.
• The initiative was spearheaded by Amitabh Nag, CEO of Digital India BHASHINI Division, in collaboration with EkStep Foundation, COSS at IIIT Bengaluru, and AI4Bharat.
• VoicERA expands BHASHINI’s capabilities beyond translation and text-based tools to real-time speech systems, conversational AI, and multilingual telephony at population scale.
• Government departments can deploy voice-enabled citizen services in areas like agriculture advisories, education support, livelihood services, grievance redressal, and scheme discovery.
• The launch reinforces India’s commitment to sovereign AI capabilities, inclusive digital governance, and positions India at the forefront of population-scale language and voice innovation.

CURRENT AFFAIRS: SPORTS NEWS

International Paralympic Committee Lifts Ban on Russian Athletes for Milan Cortina 2026 Winter Paralympics

• The International Paralympic Committee has lifted the ban on Russian athletes for the Milan Cortina 2026 Winter Paralympics. Russian and Belarusian athletes will now compete under their national flags, and their national anthems will be played during medal ceremonies.
• Earlier, after the 2022 Russia Ukraine conflict and doping related sanctions, athletes were permitted to compete only as neutral participants without national symbols.

Key Highlights

• The decision restores full national recognition for Russian and Belarusian athletes at the 2026 Winter Paralympics.
• Russia has been allotted 6 quota slots
  – 2 in Para alpine skiing
  – 2 in Para cross country skiing
  – 2 in Para snowboard
• Belarus has been allotted 4 quota slots, all in cross country skiing.
• The earlier ban was imposed due to state sponsored doping violations and the 2022 conflict, considered a violation of the Olympic Truce.
• The decision applies only to the Winter Paralympics, while restrictions related to the Winter Olympic Games remain separate.
• The 2026 Winter Paralympics will be hosted by Milan and Cortina d’Ampezzo, Italy.

CURRENT AFFAIRS: IMPORTANT DAYS

21st February is to be celebrated as the International Mother Language Day

• Every year February 21 is celebrated as International Mother Language Day 2026 all over the world.
• It is a worldwide annual observance to bring awareness among people about linguistic and cultural diversities. It is celebrated to promote multilingualism among people all over the world.

History

• UNESCO declared February 21st as International Mother Language Day in the year 1999 and has been witnessed all throughout the world since 2000.
• This declaration of Mother Language Day came into existence as a tribute to the language movement in Bangladesh. When Pakistan was separated in 1947 it had two partitions: East Pakistan and West Pakistan.
• The two parts were extremely different from each other in the sense of culture and languages. In 1948, the Pakistani government declared Urdu as the national language of both East and West Pakistan. But the majority of the people in both east and west Pakistan had Bengali or Bangla.
• The East Pakistan people started a protest as they have Bengali as their mother tongue. They demanded Bengali be at least one of the national languages in addition to Urdu.
• This was raised first by Dhirendranath Datta on February 23, 1948. To demolish the protest, the government of Pakistan outlawed public meetings and rallies.
• The students of the University of Dhaka, with the support of the general public, arranged massive rallies and meetings. On 21 February 1952, police opened fire on rallies. Three people died, with hundreds of others injured. This was a rare incident in history, where people sacrificed their lives for their mother tongue.
• Since then, Bangladeshis have celebrated International Mother Language Day as one of their tragic days. They visit the Shaheed Minar, a monument built in memory of the martyrs and its replicas to express their deep sorrow, respect, and gratitude to them. International Mother Language Day is a national holiday in Bangladesh.
• The resolution was suggested by Rafiqul Islam and Abdus Salam, Bengalis living in Vancouver, Canada. They wrote a letter to Kofi Annan on 9 January 1998 asking him to take a step toward saving the world's languages from extinction by declaring an International Mother Language Day.
• Rafiq proposed the date as 21 February to commemorate the 1952 killings in Dhaka during the Language Movement. Rafiqul Islam's proposal was introduced in the Bangladesh Parliament and in due course (at the behest of the Prime Minister) a formal proposal was submitted to UNESCO by the government of Bangladesh.
• The process of shepherding the proposal through UNESCO's regulatory system was undertaken by Syed Muazzem Ali, then Bangladesh ambassador to France and Permanent Representative to UNESCO, and Tozammel Tony Huq, his predecessor, who was then a Special Adviser to UNESCO Secretary-General.
• Finally, on 17 November 1999, the 30th General Assembly of UNESCO unanimously resolved that "21st February be proclaimed International Mother Language Day throughout the world to commemorate the martyrs who sacrificed their lives on this very day in 1952.

Daily CA One- Liner: February 21

• Prime Minister Narendra Modi announced the establishment of a National Centre of Excellence for Skilling in Aeronautics and Defence at Kanpur, Uttar Pradesh during a joint press statement with the President of France while inaugurating the India France Year of Innovation
• India has officially joined Pax Silica, a United States led strategic coalition aimed at building secure and resilient supply chains for Artificial Intelligence, semiconductors and critical minerals
• At the India AI Impact Summit 2026, Union Minister for Electronics and Information Technology Ashwini Vaishnaw announced the New Delhi Frontier AI Impact Commitments
• The Assam Cabinet has approved 3 percent reservation for Tea Tribes and Adivasi communities in Class One and Class Two state government jobs within the Other Backward Classes quota
• India participated as an observer in the inaugural Gaza Board of Peace meeting convened by United States President Donald Trump
• In a major clean energy development, Andhra Pradesh has secured India’s largest integrated lithium-ion battery Gigafactory by Waaree Energies with an investment of Rupees 8,175 crore
• The International Paralympic Committee has lifted the ban on Russian athletes for the Milan Cortina 2026 Winter Paralympics. Russian and Belarusian athletes will now compete under their national flags, and their national anthems will be played during medal ceremonies.
• Seven public sector banks (PSBs) have deployed 32 generative AI use cases under the EASE 8.0 programme as part of the government’s banking reform push.
• Axis Bank Limited, India’s 3rd largest private sector bank, partnered with IndiGo (InterGlobe Aviation Limited) to launch two co-branded travel and lifestyle credit cards — IndiGo Axis Bank Credit Card and IndiGo Axis Bank Premium Credit Card.
• ASK Asset & Wealth Management Group, a leading financial services company, received regulatory approval from Securities and Exchange Board of India (SEBI) to operate as an investment manager for the Mutual Fund (MF) business in India.
• The Reserve Bank of India (RBI) has mandated the use of Unique Transaction Identifier (UTI) for all Over-the-Counter (OTC) derivative transactions from January 01, 2027, deferring from the earlier proposed date of April 01, 2026.
• Union Finance Minister Nirmala Sitharaman presented the Union Budget 2026-27, highlighting a significant rise in gender-focused allocations.
• Union Finance Minister Nirmala Sitharaman stated that India has increased its climate action spending to nearly 5.6% of Gross Domestic Product (GDP), up from 3.7 per cent six years ago.
• The Government of India (GoI) signed a Mutual Legal Assistance Agreement on Criminal Matters with Nepal in Kathmandu, Nepal.
• Prime Minister Narendra Modi and French President Emmanuel Macron virtually inaugurated the Tata Advanced Systems Limited (TASL) Final Assembly Line (FAL) of the Airbus H-125 Light Utility Helicopter at Vemagal, Karnataka, from Mumbai.
• Bengaluru-based startup Sarvam AI has launched two indigenous large language models (LLMs)—Sarvam-30B and Sarvam-105B—that are fully developed in India.
• The Ministry of Minority Affairs organized a two-day National Chintan Shivir at Nalanda University, Rajgir, Bihar, to formulate a policy roadmap for minority welfare and socio-economic empowerment.
• The Indian Institute of Technology (IIT) Madras Global Research Foundation launched its first international Applied Artificial Intelligence (AI) Innovation Centre at Dubai CommerCity, Dubai,United Arab Emirates (UAE).
• TVS Supply Chain Solutions (TVS SCS) signed a Memorandum of Understanding (MoU) with ALA Group, an Italy-based aerospace and defence supply chain integrator, to jointly tap India’s USD 28 billion Aerospace & Defence (A&D) supply chain market.
• The Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs (MCA), set up a high-level Advisory Group on Ease of Doing Business (EoDB) to strengthen and modernise India’s corporate regulatory framework, particularly compliance under the Companies Act, 2013.
• The Ministry of Electronics and Information Technology (MeitY) launched VoicERA, an open-source, end-to-end Voice AI stack, at the India AI Impact Summit 2026.
• Every year February 21 is celebrated as International Mother Language Day 2026 all over the world.