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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Imposes ₹38.60 Lakh Penalty on UCO Bank for Regulatory Non-Compliance

• The Reserve Bank of India (RBI) imposed a ₹38.60 lakh monetary penalty on UCO Bank for non-compliance with regulatory directions.
• The penalty pertains to violations related to interest payment periodically on savings deposits, locker rent refunds, and credit information reporting for Self Help Group (SHG) members.
• UCO Bank failed to pay interest on certain savings accounts, did not report SHG member-level credit data to Credit Information Companies (CICs), and did not refund proportionate locker rent on premature locker surrender.
• The penalty was imposed under the Banking Regulation Act, 1949 and the Credit Information Companies (Regulation) Act, 2005.

About UCO Bank :

• UCO Bank, formerly United Commercial Bank, is a public sector bank headquartered in Kolkata, India.
• MD & CEO : Shri Ashwani Kumar

National Payments Corporation of India Launches UPI One World Wallet for International Delegates at India AI Impact Summit 2026

• The National Payments Corporation of India (NPCI) launched the ‘UPI One World’ Wallet for international delegates attending the India AI Impact Summit 2026 in New Delhi.
• The pilot programme targets visitors from 40+ countries, enabling real-time UPI person-to-merchant (P2M) payments without requiring an Indian bank account or local mobile number.
• The wallet can be linked to an international mobile number and used at any UPI-enabled merchant across India, including metros, small towns, and rural areas.
• The wallet is being issued through authorised Prepaid Payment Instrument (PPI) providers and is currently available at Indira Gandhi International Airport and the NPCI Pavilion at Bharat Mandapam.
• Delegates can activate the wallet through the CheqUPI app (Transcorp) by completing KYC verification using passport, visa, selfie authentication, and UPI PIN setup.
• The system allows a maximum load of ₹25,000 per transaction with a monthly cumulative limit of ₹50,000.
• The initiative promotes digital payments inclusion, strengthens tourism-friendly financial services, and enhances India’s global digital payment infrastructure.

Gujarat International Finance Tec-City City Signs Memorandum of Understanding with AJNIFM to Boost Financial Education and FinTech Collaboration

• Gujarat International Finance Tec-City (GIFT City) signed a Memorandum of Understanding (MoU) with the Arun Jaitley National Institute of Financial Management (AJNIFM), Faridabad, under the Ministry of Finance (MoF), in Gandhinagar, Gujarat.
• The MoU aims to promote joint postgraduate (PG) and executive programmes, collaborative research, and academic exchanges in International Finance and Financial Technology (FinTech).
• The partnership supports capacity building under the GIFT International FinTech Institute, aligning financial education with the needs of India’s only International Financial Services Centre (IFSC).
• The collaboration aims to create a future-ready talent pipeline for global and cross-border finance operations.
• A five-day Industry Immersion Programme was launched for second-year MBA students of AJNIFM, providing exposure to regulatory frameworks, capital markets, cross-border financial services, and digital finance innovations.
• AJNIFM trains officers of Government Financial and Accounts Services (GF&AS) and provides postgraduate and executive-level financial education.
• GIFT City provides a global financial ecosystem for practical and applied financial learning, strengthening India’s international finance and FinTech capabilities.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Gujarat Budget 2026–27 Presented with ₹4.08 Lakh Crore Outlay

• The Gujarat Budget 2026–27 was presented by Finance Minister Kanu Desai in the Assembly at Gandhinagar.
• The total outlay stands at ₹4,08,053 crore, making it the largest Budget in the history of Gujarat.
• The Government also declared 2026 as Gujarat Tourism Year.
• The Budget focuses on tourism expansion, Artificial Intelligence driven policing, sports infrastructure, transport expansion, highways development and enhanced health coverage, outlining a long-term growth roadmap.

Key Highlights

• Highest ever Budget outlay in Gujarat’s history.
• Presented by Finance Minister Kanu Desai, marking his fifth consecutive Budget.
• Budget structured around five pillars – Social Security, Human Resource Development, Infrastructure, Economic Expansion and Green Growth.
• Government declared 2026 as Gujarat Tourism Year.
• ₹5,096 crore allocated for tourism, pilgrimage, civil aviation and sports.
• ₹447 crore allocated for development of a world class bus port at Somnath.
• ₹236 crore earmarked for upgrading facilities at the Statue of Unity.
• Promotion of Lothal and Dholavira as global heritage tourism hubs.
• Introduction of Artificial Intelligence driven policing system.
• ₹60 crore allocated for setting up Data Fusion Centre and Centre of Excellence for Artificial Intelligence in Policing.
• ₹1,571 crore allocated for construction of 20,444 modern houses for police personnel over five years.
• Plan to develop Ahmedabad as an Olympic Ready City ahead of the 2030 Commonwealth Games.
• ₹1,278 crore proposed for international grade sports infrastructure and transport integration.
• Induction of 2,463 technologically upgraded buses, including 500 Air Conditioned electric buses and 500 mini buses for tribal areas, students and industrial workers.
• ₹1,286 crore allocated for bus expansion and green mobility push.
• Development of 1,155 kilometre Garvi Gujarat High Speed Corridor with ₹800 crore allocation.
• Provision of cashless medical cover up to ₹10 lakh for about 6.4 lakh state employees and pensioners under Pradhan Mantri Jan Arogya Yojana framework.

About Gujarat

• Governor: Acharya Devvrat
• Chief Minister: Bhupendra Patel
• Deputy Chief Minister: Harsh Sanghvi
• Capital: Gandhinagar

RECENT NEWS

• Government of Gujarat signed a Letter of Intent (LoI) with Starlink, a subsidiary of SpaceX, on 9 February 2026 in Gandhinagar. The agreement aims to bring high-speed satellite internet to remote, tribal, and underserved regions of the state.

Madhya Pradesh Budget 2026–27 Presented with ₹4.38 Trillion Outlay

• The Madhya Pradesh Budget 2026–27 was presented by Finance Minister Jagdish Devda in the State Assembly.
• The total outlay stands at ₹4,38,317 crore (₹4.38 trillion).
• It is the third consecutive budget of the Mohan Yadav Government and focuses on women empowerment, rural development, youth employment and infrastructure, while announcing no new taxes.
• The Opposition raised concerns regarding the rising debt burden during the session.

Key Highlights

• Budget framed under the GYANII Model – Garib Kalyan, Yuva Shakti, Annadata, Nari Shakti, Infrastructure and Industry.
• Nearly ₹3 trillion allocated across priority sectors.
• About ₹1,27,555 crore earmarked for women welfare schemes.
• Announcement of 5,700 working women hostels.
• ₹23,883 crore allocated for Ladli Behna Yojana.
• About 1.25 crore women receive ₹1,500 per month under the scheme.
• Since 2023, ₹52,304 crore disbursed under Ladli Behna Yojana.
• Support extended to Self Help Groups and Ujjwala Yojana beneficiaries.
• ₹3,600 crore allocated for Simhastha Kumbh 2028 in Ujjain to strengthen civic infrastructure and religious tourism.
• ₹40,062 crore allocated to Panchayat and Rural Development Department.
• ₹10,428 crore earmarked for rural employment scheme GRAM G.
• ₹900 crore allocated under PM Janman for Particularly Vulnerable Tribal Groups.
• Recruitment of 15,000 teachers in government schools.
• Provision of free milk in tetra packs for students up to Class 8.
• Distribution of 1 lakh solar pumps to farmers.
• ₹12,690 crore allocated for road repairs.
• ₹4,454 crore earmarked for Jal Jeevan Mission.
• ₹1,335 crore allocated to the Labour Department.
• Government announced no new taxes in Budget 2026–27.
• Opposition raised concern over borrowing of ₹5,600 crore before the Budget session and increasing state debt.

About Madhya Pradesh

• Governor: Mangubhai Patel
• Chief Minister: Mohan Yadav
• Finance Minister: Jagdish Devda
• Capital: Bhopal

RECENT NEWS

• India’s push for inclusive and technology-driven governance received a major boost as Madhya Pradesh partnered with the Digital India BHASHINI Division. The collaboration focuses on integrating multilingual and voice-based AI solutions into government platforms, ensuring that digital services reach citizens across linguistic and regional boundaries.

India Creates Guinness World Record for Responsible Artificial Intelligence Pledges

• India created a Guinness World Record by collecting 2,50,946 valid pledges for responsible Artificial Intelligence use within 24 hours.
• The achievement was announced by Union Minister Ashwini Vaishnaw during the India Artificial Intelligence Impact Summit 2026 held at Bharat Mandapam, New Delhi.
• The pledges were recorded between February 16 and February 17, 2026, and officially verified by a Guinness World Records adjudicator at the venue.

Key Highlights

• India secured the Guinness World Record for Most pledges received for an Artificial Intelligence responsibility campaign in 24 hours.
• A total of 2,50,946 valid pledges were recorded, significantly exceeding the initial target of 5,000 pledges.
• The campaign was launched under the India Artificial Intelligence Mission in collaboration with Intel India.
• Participants pledged commitment towards ethical, inclusive and responsible use of Artificial Intelligence through an online platform.
• The pledge campaign included awareness on data privacy, transparency, accountability and combating misinformation.
• Citizens completing the pledge received a digital certificate and access to Artificial Intelligence learning resources.
• More than 5 lakh students and educational institutions actively participated, making it a major youth driven initiative.
• The achievement highlights India’s emphasis on responsible Artificial Intelligence governance, public awareness and ethical technology adoption.

Gujarat Assembly Passes Gujarat Shops and Establishments Amendment Bill 2026

• The Gujarat Legislative Assembly has unanimously passed the Gujarat Shops and Establishments Amendment Bill 2026, allowing night shifts for women, increasing daily working hours to 10 hours and raising the overtime limit to 144 hours.
• The Bill was introduced by Labour Skill Development and Employment Minister Kunvarji Bavaliya and replaces the ordinance issued in December 2025.

Key Highlights

• The amendment permits night shifts for women between 9 pm and 6 am, subject to mandatory safety and welfare safeguards.
• Employment during night hours will require written consent of the woman employee.
• Employers must provide rest rooms, separate ladies toilets, night creche facilities, protection against sexual harassment and transportation from workplace to residence.
• The daily working hour limit has been increased from 9 hours to 10 hours, while the weekly limit remains 48 hours.
• No employee can work more than 10 hours per day, and continuous work beyond 6 hours is prohibited without a mandatory 30 minute break.
• The overtime limit has been raised from 125 hours to 144 hours in a three month period.
• Overtime wages will continue to be paid at twice the ordinary rate of wages.
• The State Government retains the authority to prohibit or regulate employment of women during night hours in public interest.
• The legislation formally replaces the December 2025 ordinance and was passed unanimously in the Assembly.

India France Launch Indo French Centre for Artificial Intelligence in Health at All India Institute of Medical Sciences New Delhi

• India and France jointly inaugurated the Indo French Centre for Artificial Intelligence in Health at All India Institute of Medical Sciences New Delhi during the Rencontres Universitaires Et Scientifiques De Haut Niveau 2026 meetings
• The centre was launched by Union Health Minister Jagat Prakash Nadda and President of France Emmanuel Macron, marking a major step in Artificial Intelligence powered healthcare collaboration between the two nations.

Key Highlights

• The Indo French Centre for Artificial Intelligence in Health will function as a specialised hub for interdisciplinary research in Artificial Intelligence and healthcare.
• Core focus areas include Artificial Intelligence in healthcare, brain health and neuroscience, clinical decision support systems, global healthcare innovation and responsible use of health data.
• The centre has been established under a Joint Memorandum of Understanding between All India Institute of Medical Sciences New Delhi and Indian Institute of Technology Delhi with Sorbonne University and Paris Brain Institute.
• The collaboration will promote joint research programmes, academic exchange, mobility of students and faculty and knowledge sharing in Artificial Intelligence and health sciences.
• The inauguration took place during the Rencontres Universitaires Et Scientifiques De Haut Niveau 2026 meetings, featuring a session on Artificial Intelligence in brain health and global healthcare.
• Discussions focused on Artificial Intelligence applications in mental health, brain disorders and global health challenges involving scientists, clinicians and policymakers.
• President Emmanuel Macron emphasised the need for sovereign and trusted Artificial Intelligence systems, domestic computing capacity, Artificial Intelligence talent development, algorithmic transparency and protection of cultural diversity.
• A special youth interaction featured Priyanka Das Rajkakati and Manan Suri, moderated by Clara Chappaz, highlighting youth led innovation and cross border collaboration.
• The initiative strengthens ongoing India France cooperation in digital health, antimicrobial resistance, human resources for health and responsible data governance.
• Expected outcomes include enhanced research capacity, evidence based policymaking, skill development and global healthcare innovation partnerships.

Eight-Year-Old Ranvir Sachdeva Becomes Youngest Speaker at India AI Impact Summit 2026

• In a remarkable moment at the India AI Impact Summit 2026 held at Bharat Mandapam in New Delhi, eight-year-old Ranvir Sachdeva became the youngest speaker at the event.
• The summit, attended by global Chief Executive Officers and artificial intelligence experts, witnessed Ranvir delivering a keynote address focused on inclusive and ethical Artificial Intelligence.
• His core message was clear — Artificial Intelligence should be built for everyone.

Key Highlights

• Ranvir Sachdeva started coding at the age of three and began studying machine learning models at a very young age.
• He has previously delivered talks at international technology forums and actively promotes combining Indian philosophical values with Artificial Intelligence development.
• At the summit, he interacted with Sundar Pichai, Chief Executive Officer of Google, and Sam Altman, Chief Executive Officer of OpenAI.
• His interaction with global technology leaders gained widespread attention and appreciation.
• In his keynote address, he emphasised that Artificial Intelligence must be accessible to common citizens and not remain limited to experts or corporations.
• He highlighted that India can play a leading role in developing ethical, responsible and inclusive Artificial Intelligence systems.
• He explained complex Artificial Intelligence concepts in simple language, making them understandable to a diverse audience.
• The India AI Impact Summit 2026 focused on responsible Artificial Intelligence, global collaboration, innovation and policy discussions.
• Ranvir Sachdeva’s participation symbolised how Artificial Intelligence innovation in India is expanding across generations and encouraging youth engagement in emerging technologies.

CURRENT AFFAIRS : INTERNATIONAL NEWS

Switzerland to Host 2027 AI Summit in Geneva; UAE to Host 2028 Edition

• Switzerland will host the 2027 AI Summit in Geneva, while the UAE is set to host the 2028 edition, demonstrating global continuity in AI governance efforts.
• The announcement was made by Swiss President Guy Parmelin during his meeting with Indian Prime Minister Narendra Modi on the sidelines of the India AI Impact Summit 2026.
• Switzerland is coordinating with India, South Korea, France, and Sweden to promote inclusive and balanced AI governance frameworks.
• India–Switzerland relations have strengthened following the India–EFTA Trade and Economic Partnership Agreement (TEPA), which came into effect in October 2025, accelerating economic cooperation.
• President Parmelin highlighted the potential of a bilateral Investment Treaty to promote Swiss investment in India and support sustainable job creation.
• India–Switzerland ties have been celebrated for 25 years (2024), with TEPA further reinforcing cooperation in AI and research.
• The announcement underscores Switzerland’s focus on AI, research collaboration, and deepening economic relations with India.

About Switzerland :

• Capital : Bern
• Currency : Swiss franc (CHF).

Japan Scraps Arakurayama Sengen Park Cherry Blossom Festival Over Tourist Misconduct Near Mount Fuji

• Japan cancelled the decade-old Cherry Blossom Festival at Arakurayama Sengen Park, Fujiyoshida, due to overtourism and its negative impact on local residents.
• The surge in tourists caused problems such as traffic congestion, littering, trespassing, and incidents of tourists entering or defecating in private gardens.
• The festival was first opened in 2016 and became a global tourist attraction for viewing sakura (cherry blossoms) with Mount Fuji as a backdrop, boosted by social media popularity.
• The festival had been organised for over 10 years and attracted lakhs of tourists
• Fujiyoshida Mayor Shigeru Horiuchi stated that while Mount Fuji’s scenic beauty attracts tourists, it has also threatened the peaceful lives of residents, creating a sense of crisis.
• Japan received nearly 43 million tourists in the previous year (2025), marking its highest tourism inflow
• The incident highlights challenges related to sustainable tourism management and balancing economic benefits with local community welfare.

India and Israel Sign Memorandum of Understanding to Boost Defence Collaboration and Technology Sharing

• India and Israel signed a Memorandum of Understanding (MoU) to strengthen defence cooperation, focusing on joint seminars, industrial collaboration, and technology sharing.
• The agreement was facilitated during a strategic defence seminar and Business-to-Business (B2B) meetings organised by SIBAT (International Defence Cooperation Directorate) under the Israel Ministry of Defence (IMOD), in collaboration with Society of Indian Defence Manufacturers (SIDM) and Ministry of Defence (MoD), India, in Tel Aviv, Israel.
• The India–Israel Defence Industry Seminar was led by Brigadier General (Retd.) Yair Kulas, Director of SIBAT, who facilitated interactions between 30 Indian defence companies and 26 Israeli defence companies through B2B meetings.
• The Indian delegation was headed by Ramesh K, Director General (DG) of SIDM, along with J P Singh, Ambassador of India to Israel, and Group Captain Vijay Patil, Defence Attaché.
• Discussions focused on strengthening India’s defence industrial ecosystem, including co-development, co-production, technology transfer, and interoperability.
• The discussions also highlighted the Defence Acquisition Procedure (DAP) 2026, aimed at modernising defence procurement processes and promoting indigenous defence manufacturing.
• The initiative aims to boost bilateral defence industrial cooperation, strengthen strategic partnerships, and enhance defence technology innovation between India and Israel.

Recent News :

• In Feb 2026, A high-level Indian delegation led by Union Minister Rajiv Ranjan Singh (Ministry of Fisheries, Animal Husbandry and Dairying) visited Israel from 13–15 January 2026 to participate in the Second Global Summit on “Blue Food Security: Sea the Future 2026” held in Eilat.

About Israel :

• Capital : Jerusalem
• Currency : Israeli New Shekel.

CURRENT AFFAIRS : DEFENCE NEWS

Defence Research and Development Organisation Successfully Tests Drogue Parachute for Gaganyaan Human Spaceflight Mission

• India’s human spaceflight programme Gaganyaan achieved a major milestone with the successful qualification-level load test of the Drogue Parachute at the Rail Track Rocket Sled (RTRS) facility of Defence Research and Development Organisation (DRDO) at Terminal Ballistics Research Laboratory (TBRL), Chandigarh.

Key Highlights :

• The RTRS facility is a high-speed aerodynamic and ballistic testing facility used for advanced defence and space programme
• The test was conducted on February 18, 2026, with participation from Vikram Sarabhai Space Centre (VSSC), ISRO, Aerial Delivery Research and Development Establishment (ADRDE), DRDO, and TBRL dedicated technical teams.
• The RTRS dynamic test simulated qualification-level loads higher than maximum flight loads, demonstrating the additional safety design margin of the drogue parachute system.
• The test validates India’s capability in designing and manufacturing high-strength ribbon parachutes for human spaceflight safety systems.
• DRDO, under the Department of Defence Research and Development (DDR&D), Ministry of Defence (MoD), provided advanced testing infrastructure, instrumentation, and technical expertise.
• The drogue parachute is used to stabilise and decelerate the crew module before main parachute deployment during re-entry and recovery operations.
• The Gaganyaan Mission is ISRO’s first human spaceflight programme, aiming to send a 3-member Indian crew into Low Earth Orbit (LEO) at 400 km altitude for a 3-day mission and ensure safe re-entry and recovery in the Indian Ocean.
• The mission is a major step in strengthening India’s space technology self-reliance and human space exploration capabilities.

About DRDO:

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

Indian Navy Hosts Exercise MILAN 2026, International Fleet Review 2026, and 9th Indian Ocean Naval Symposium Conclave at Visakhapatnam

• The Indian Navy (IN) hosted three major international engagements at Visakhapatnam, Andhra Pradesh (AP) from 15–25 February 2026, including Exercise MILAN 2026, International Fleet Review (IFR) 2026, and the 9th Indian Ocean Naval Symposium (IONS) Conclave.
• Exercise MILAN 2026 was inaugurated by Union Defence Minister Rajnath Singh and conducted from 19–25 February 2026 in the Bay of Bengal as a biennial multilateral naval exercise hosted by the Indian Navy.
• The theme of MILAN 2026 was “Camaraderie, Cooperation, Collaboration.”
• International Fleet Review (IFR) 2026 was held on 18 February 2026 off Visakhapatnam, under the theme “United through Oceans”, presided over by President Droupadi Murmu, Supreme Commander of the Armed Forces.
• The 9th IONS Conclave 2026 was held on 20 February 2026 at Visakhapatnam, AP.
• India will lead IONS for the 2026–2028 term, marking its second tenure as Chair since the forum’s launch in 2008, New Delhi.
• Admiral Dinesh K Tripathi, Chief of Naval Staff (CNS) of the Indian Navy, assumed the Chairmanship of IONS from the Royal Thai Navy (RTN).

Recent News :

• In Jan 2026, The Indian Navy signed a contract with M/s Suryadipta Projects Private Limited, a Thane-based MSME shipyard, for the construction and delivery of three 200-tonne bottom-opening non-propelled barges.

About Indian Navy (IN) :

• Chief of Naval Staff (CNS): Admiral Dinesh K Tripathi
• Headquarters: New Delhi, Delhi
• Established: 1950
• Motto: “Sam no Varunah”

CURRENT AFFAIRS : APPS & PORTALS

Assam Chief Minister Himanta Biswa Sarma Unveils PMS Portal to Expedite Provincialization of Venture Educational Institutions

• Chief Minister of Assam Himanta Biswa Sarma launched the Provincialization Management System (PMS) Portal at Lok Sewa Bhawan, Guwahati to streamline the provincialization of venture educational institutions and their staff.
• The portal operates under the Assam Education (Provincialisation of Services of Teachers and Re-Organisation of Educational Institutions) Act, 2017, amended in 2025.
• Purpose: The PMS Portal creates a centralised digital database for venture schools and colleges, enabling teaching and non-teaching staff to submit and track provincialization applications online.
• The platform ensures transparency, reduced delays, minimal paperwork, and reduced manual intervention in the provincialization process.
• Eligibility: The current phase covers venture educational institutions established before January 1, 2006, including:
• Lower Primary (LP) Schools
• Upper Primary (UP)/Middle English (ME) Schools
• High Schools
• Higher Secondary Schools
• Venture Degree Colleges
• Applicants must submit required documents such as recognition certificates, land records, staff lists, and academic records for verification.
• The initiative aims to digitize education governance, improve administrative efficiency, and ensure faster service regularisation for eligible institutions and staff.

Recent News :

• In Feb 2026, The Assam Cabinet 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.

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

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Ministry of Power Forms Panels to Oversee Proposed Power Finance Corporation and REC Merger

• The Ministry of Power (MoP) constituted a three-member High-Level Committee and a three-member Working Group to supervise the proposed merger of Power Finance Corporation (PFC) and REC Limited (Rural Electrification Corporation Limited).
• The High-Level Committee consists of Parminder Chopra (Chairman & MD, PFC), Jitendra Srivastava (CMD, REC), and Shankank Mishra (Joint Secretary, Distribution, MoP) as convenor.
• The committee will monitor the merger process, review weekly progress reports, resolve policy and structural issues, ensure alignment with government objectives, and coordinate with regulatory authorities and stakeholders.
• The Working Group on Merger Modalities is headed by Pranav Tayal, Director (Distribution), MoP, with Executive Directors from PFC and REC as members.
• The Working Group will focus on personnel integration, including harmonisation of pay scales, service conditions, and promotion policies.
• The merger initiative aims to improve financial efficiency, strengthen power sector financing, and enhance institutional synergy between PFC and REC.

About Power Finance Corporation Ltd. (PFC) :

• It is an Indian public sector enterprise engaged in infrastructure finance, primarily supporting the Indian power sector.
• Established :1986
• Headquarters : New Delhi
• Chairman and Managing Director (CMD) : Parminder Chopra

About REC Limited :

• REC Limited (formerly Rural Electrification Corporation Limited)
• It is an Indian public sector company that provides financial assistance for power projects across India.
• Founded : 25 July 1969.
• Chairman and Managing Director : Jitendra Srivastava

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Tata Group–OpenAI Join Hands to Develop India’s First AI-Ready Large-Scale Data Centre

• The Tata Group partnered with OpenAI to establish India’s first large-scale AI-ready data centre under the global Stargate initiative, with OpenAI becoming the first customer of TCS HyperVault data centre business.
• The TCS HyperVault data centre will initially host AI-ready infrastructure starting with 100 MW capacity, scalable up to 1 GW (Gigawatt), powered by green energy and AI-optimised hardware for large-scale AI training and inference workloads.
• Tata Consultancy Services (TCS) plans to invest up to USD 7 billion to build 1 GW data centre capacity in India as part of the USD 500 billion Stargate global AI infrastructure initiative.
• The Tata Group also plans to deploy OpenAI’s ChatGPT Enterprise across its organisation, initially covering hundreds of thousands of employees over the coming years.
• OpenAI will expand its AI certification programme in India, with TCS becoming the first organisation outside the USA to participate in this programme.
• OpenAI also plans to establish offices in Mumbai (Maharashtra) and Bengaluru (Karnataka) in 2026, strengthening India’s AI ecosystem and global technology collaboration.

Indian Space Research Organisation to Set Up Liquid Methane Plant at Mahendragiri for Next-Generation NGLV Missions

• Indian Space Research Organisation (ISRO) plans to establish a liquid methane production plant at the Propulsion Complex, Mahendragiri, Tamil Nadu to support next-generation rocket propulsion technologies.
• The plant will produce liquid methane from Liquefied Natural Gas (LNG), focusing on cost efficiency, low wastage, optimal production processes, and detailed reporting of consumables and by-products.
• The liquid methane will be used for methalox propulsion systems (methane + liquid oxygen) to power ISRO’s Next Generation Launch Vehicle (NGLV).
• The NGLV (Project Soorya) is a 3-stage, heavy-lift, partially reusable launch vehicle designed to replace PSLV and GSLV for future space missions.
• The NGLV will have a 30-tonne payload capacity to Low Earth Orbit (LEO) and support human spaceflight missions, commercial launches, and green propulsion technologies.
• Unlike traditional launch vehicles, the NGLV will feature first-stage recovery and reuse capability, improving mission cost efficiency.
• ISRO’s Propulsion Complex at Mahendragiri has invited Expression of Interest (EoI) for design, manufacturing, testing, supply, erection, and commissioning of the Liquid Methane Production Plant.
• The proposed plant will have a production capacity of 8 Metric Tonnes per day, producing high-purity liquid methane.
• Liquid methane will be produced using Liquefied Natural Gas (LNG) as raw material with emphasis on minimum production cost and minimum wastage.
• Vendors must submit a schematic plant design, including LNG requirement to produce 1 MT of liquid methane, along with estimates of consumables, by-products, and waste gases.
• Eligible vendors must have established a cryogenic production plant for liquid nitrogen, liquid oxygen, liquid hydrogen, or liquid methane within the last 7 years (ending December 31, 2025).
• Alternatively, vendors must have executed contracts involving manufacturing and supply of cryogenic systems, including double-walled tanks, pipelines, and instrumentation & control systems for cryogenic fluids within the same time period.
• The initiative supports India’s National Space Vision and aims to develop green, cost-effective space propulsion technologies for future space exploration and commercial space activities.

AuraML Unveils AuraSim, India’s First Multimodal Robotics Simulation Model at India AI Impact Summit 2026

• Indian AI startup AuraML launched AuraSim, India’s first multimodal world simulation model for robotics, at the India AI Impact Summit 2026 in New Delhi.
• AuraSim is built on Nvidia Omniverse and Cosmos infrastructure, enabling physics-ready 3D simulation environments using inputs like text descriptions, 2D floor plans, video walkthroughs, depth maps, and point clouds.
• The platform supports simulations for humanoid robots, autonomous mobile robots (AMRs), and stationary robotic arms operating in shared virtual environments.
• AuraSim reduces time and cost of training autonomous robotic systems by creating high-fidelity digital twins before hardware deployment.
• The system allows agentic automation, running thousands of scenario variations without human intervention, enabling rapid stress-testing of edge cases through simple text prompt modifications.
• AuraML is launching the Global Physical AI & Robotics Cohort with NVIDIA Inception, an eight-week mentorship-driven training program for robotics engineers, AI researchers, and developers with limited seats.
• AuraML’s focus is on building foundational world models for next-generation robotics using generative AI and physics-based simulation.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Food Corporation of India Signs Five-Year Memorandum of Understanding with World Food Programme to Supply 2 Lakh Metric Tonnes of Rice Annually

• India has strengthened its commitment to global food security as the Food Corporation of India signed a five-year Memorandum of Understanding with the World Food Programme.
• Under the agreement, the Food Corporation of India will supply 2,00,000 metric tonnes (2 lakh metric tonnes) of rice annually to support global humanitarian operations.
• The partnership reinforces India’s commitment towards achieving Zero Hunger under Sustainable Development Goal 2 of the United Nations.

Key Highlights

• Duration: Five years, with provision for extension through mutual consent.
• Annual Supply: 2,00,000 metric tonnes of rice, including up to 25 percent broken grains.
• Price: ₹2,800 per quintal, fixed until 31 March 2026.
• The Memorandum of Understanding was signed by Rabindra Kumar Agarwal, Chairman and Managing Director of Food Corporation of India, and Carl Skau, Deputy Executive Director of World Food Programme, in the presence of the Secretary, Department of Food and Public Distribution.
• The agreement aims to combat hunger and malnutrition in vulnerable regions across the world.
• The partnership highlights India’s growing role in stabilising global food supply chains and supporting international humanitarian operations.
• The five-year framework ensures supply stability for global relief programmes.
• The pricing mechanism provides operational flexibility while maintaining long-term cooperation.
• The initiative enhances India’s image as a responsible and reliable contributor to global food systems and strengthens diplomatic goodwill among developing nations.

About Food Corporation of India

• Established in 1965.
• Responsible for procurement, storage and distribution of food grains to ensure food security in India.

About World Food Programme

• Established in 1961.
• Headquarters: Rome, Italy.
• Food assistance branch of the United Nations and the largest humanitarian organisation addressing hunger and food insecurity globally.

CURRENT AFFAIRS: RANKING AND REPORTS

Amazon Overtakes Walmart to Become World’s Largest Company by Revenue

• In a major global corporate development, Amazon has surpassed Walmart to become the world’s largest company by annual revenue in 2026.
• The milestone reflects Amazon’s rapid diversification beyond retail into cloud computing and artificial intelligence driven infrastructure.

Key Highlights

• Amazon reported $717 billion revenue for Fiscal Year 2025.
• Walmart reported $713.2 billion revenue for the 12 months ending January 31, 2026.
• Walmart had maintained the top global revenue position for more than a decade.
• Amazon was founded in 1994 by Jeff Bezos as an online bookstore and later expanded into multiple sectors.
• Over the last decade, Amazon’s revenue growth rate has been nearly ten times faster than Walmart’s.
• A key contributor to Amazon’s rise is Amazon Web Services, its cloud computing division.
• Without Amazon Web Services, Amazon’s 2025 revenue would have been $588 billion, underlining the importance of cloud services and artificial intelligence infrastructure.
• Walmart does not operate a cloud computing division, giving Amazon a technological edge.
• Amazon records approximately 7 billion website and application visits per month, leading global digital retail traffic.
• Walmart operates more than 10,000 physical stores worldwide, remaining the largest brick and mortar retailer.
• Amazon acquired Whole Foods Market in 2017 to strengthen its presence in physical retail.
• Nvidia currently holds the position of the world’s most valuable company with a market capitalization of $4.5 trillion.
• Revenue leadership indicates operational scale and does not necessarily reflect market capitalization or profitability.
• Jeff Bezos currently ranks fourth globally in wealth with an estimated net worth of $228 billion.

CURRENT AFFAIRS : OBITUARIES

Shillong Member of Parliament Ricky Andrew J Syngkon Passed Away at 54

• Ricky Andrew J Syngkon, Member of Parliament (MP) from the Shillong Lok Sabha constituency (Meghalaya), passed away at the age of 54 in Shillong.
• He was born on 6 January 1972 in Shillong, Meghalaya.
• He served as an Assistant Professor in Economics at North-Eastern Hill University (NEHU) before entering politics.
• He began his political career with the Voice of the People Party (VPP), a Meghalaya-based regional party focused on local issues, community development, and grassroots empowerment.
• In the 2024 General Elections, he contested from the Shillong Lok Sabha constituency and defeated Vincent H. Pala of the Indian National Congress (INC).
• He entered the 18th Lok Sabha as a first-time MP.
• His parliamentary priorities included connectivity development, tribal welfare, youth empowerment, and inclusive governance.

CURRENT AFFAIRS: IMPORTANT DAYS

World Scout Day is celebrated every 22nd February.

• World Scout Dayis celebrated every 22nd February. 
• World Scout Day is observed to pay tribute to the works of scouts across the globe.
• It is their remarkable service to the world that brings about a change in the lives of many people around us.

History:

• Baden-Powell maintained a testing center on Brownsea Island, Poole, Dorset, in 1907.
• He fetched concurrently 22 boysand positioned them in the base under his supervision. Some of the boys were from working-class homes and some others were from public schools.
• The whole world was awaiting the result of the base. In 1908, ‘Scouting for Boys’ was published by Baden Powell for the first time. The book deal was excellent.
• Boys formed Scout Patrols for the first time by themselves. The training camp paved the way for the formation of an organization.
• The youth of the country were highly influenced by this act and started to train themselves to serve society. ‘Scouting for Boys’ has since been deciphered into many distinct vocabularies and lingoes.
• Following this, the boys started to develop Scout Troops across the country. In1908, an office was simultaneously set up to satisfy the queries related to the scout movement. 
• Scouting was bestrewed throughout the British Commonwealth and to different countries and the youth training became eventually famous. In 1920 the foremost global Scout Jamboree abode spot at Olympia, London.
• Powell was lauded as Chief Scout of the World unanimously. During the third World Scout Jamboree, in 1929, he welcomed a car that was nicknamed Jam-Roll. He also obtained an Eccles Caravan.
• He played a great role in improving the education of the youth and facilizing the free mind and mentality.
• He was the one who gave the cue to the Scouting movement. According to the estimation, by 1939 3.3 million scoutsare present in the world.

World Thinking Day is observed on 22nd February

• World Thinking Day 2026 is observed on 22nd February. 
• World Thinking Day 2026 is a day of friendship, sisterhood, and empowerment where Girl Scouts and Girl Guides across the world speak out on issues that affect girls and young women. 
• World Thinking Day 2026 Theme: “Our Friendship”

History

• In 1926, delegates from across the world met at Camp Edith Macy now named the Edith Macy Conference Center in New York for the 4th World Conference, and decided to create a day for guides and Girl Scouts.
• They selected the joint birthday of Lord Baden-Powell, the founder of the Scout and Guide movement, and his wife Olave as the Thinking Day.
• In 1999, during the Dubai Conference, the name of Thinking Day was changed to ‘World Thinking Day.’ Today, this has grown into a huge global event that encourages members of the movement to think about bigger issues.

Daily CA One- Liner: 22^nd & 23^rd February

• The Gujarat Budget 2026–27 was presented by Finance Minister Kanu Desai in the Assembly at Gandhinagar.
• The Madhya Pradesh Budget 2026–27 was presented by Finance Minister Jagdish Devda in the State Assembly
• India created a Guinness World Record by collecting 2,50,946 valid pledges for responsible Artificial Intelligence use within 24 hours
• The Gujarat Legislative Assembly has unanimously passed the Gujarat Shops and Establishments Amendment Bill 2026, allowing night shifts for women, increasing daily working hours to 10 hours and raising the overtime limit to 144 hours
• India and France jointly inaugurated the Indo French Centre for Artificial Intelligence in Health at All India Institute of Medical Sciences New Delhi during the Rencontres Universitaires Et Scientifiques De Haut Niveau 2026 meetings held
• In a remarkable moment at the India AI Impact Summit 2026 held at Bharat Mandapam in New Delhi, eight-year-old Ranvir Sachdeva became the youngest speaker at the event
• India has strengthened its commitment to global food security as the Food Corporation of India signed a five-year Memorandum of Understanding with the World Food Programme.
• In a major global corporate development, Amazon has surpassed Walmart to become the world’s largest company by annual revenue in 2026.
• The Reserve Bank of India (RBI) imposed a ₹38.60 lakh monetary penalty on UCO Bank for non-compliance with regulatory directions.
• The National Payments Corporation of India (NPCI) launched the ‘UPI One World’ Wallet for international delegates attending the India AI Impact Summit 2026 in New Delhi.
• Gujarat International Finance Tec-City (GIFT City) signed a Memorandum of Understanding (MoU) with the Arun Jaitley National Institute of Financial Management (AJNIFM), Faridabad, under the Ministry of Finance (MoF), in Gandhinagar, Gujarat.
• Switzerland will host the 2027 AI Summit in Geneva, while the UAE is set to host the 2028 edition, demonstrating global continuity in AI governance efforts.
• Japan cancelled the decade-old Cherry Blossom Festival at Arakurayama Sengen Park, Fujiyoshida, due to overtourism and its negative impact on local residents.
• India and Israel signed a Memorandum of Understanding (MoU) to strengthen defence cooperation, focusing on joint seminars, industrial collaboration, and technology sharing.
• India’s human spaceflight programme Gaganyaan achieved a major milestone with the successful qualification-level load test of the Drogue Parachute at the Rail Track Rocket Sled (RTRS) facility of Defence Research and Development Organisation (DRDO) at Terminal Ballistics Research Laboratory (TBRL), Chandigarh.
• The Indian Navy (IN) hosted three major international engagements at Visakhapatnam, Andhra Pradesh (AP) from 15–25 February 2026, including Exercise MILAN 2026, International Fleet Review (IFR) 2026, and the 9th Indian Ocean Naval Symposium (IONS) Conclave.
• Chief Minister of Assam Himanta Biswa Sarma launched the Provincialization Management System (PMS) Portal at Lok Sewa Bhawan, Guwahati to streamline the provincialization of venture educational institutions and their staff.
• The Ministry of Power (MoP) constituted a three-member High-Level Committee and a three-member Working Group to supervise the proposed merger of Power Finance Corporation (PFC) and REC Limited (Rural Electrification Corporation Limited).
• The Tata Group partnered with OpenAI to establish India’s first large-scale AI-ready data centre under the global Stargate initiative, with OpenAI becoming the first customer of TCS HyperVault data centre business.
• Indian Space Research Organisation (ISRO) plans to establish a liquid methane production plant at the Propulsion Complex, Mahendragiri, Tamil Nadu to support next-generation rocket propulsion technologies.
• Indian AI startup AuraML launched AuraSim, India’s first multimodal world simulation model for robotics, at the India AI Impact Summit 2026 in New Delhi.
• Ricky Andrew J Syngkon, Member of Parliament (MP) from the Shillong Lok Sabha constituency (Meghalaya), passed away at the age of 54 in Shillong.
• World Scout Dayis celebrated every 22nd February
• World Thinking Day 2026 is observed on 22nd February.