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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Reserve Bank of India Establishes High-Security Data Centre in Odisha to Mitigate Threat and Seismic Risks

• The Reserve Bank of India (RBI) has launched its second high-security Data Centre in Bhubaneswar, Odisha, to strengthen the safety, resilience, and continuity of critical financial infrastructure.
• The greenfield facility is built on an 18.55-acre campus at Info Valley-II, Khordha (Odisha) and will host the RBI’s core computing systems.

Key Highlights :

• The centre will manage currency (cash) supply operations, digital inter-bank payments, payment and settlement systems, and regulatory financial data monitoring.
• The facility has achieved Tier IV design certification, meeting the highest global standards of reliability, uptime, redundancy, and operational performance.
• It is designed with in-built fault tolerance, layered physical and cyber safeguards, high redundancy, and resilience architecture to ensure uninterrupted functioning of core systems.
• The new centre is strategically located away from cross-border threat zones and high seismic-risk regions, enhancing national financial security.
• The Primary Data Centre of RBI is located at Kharghar, Navi Mumbai, Maharashtra, which hosts core applications, databases, and software systems.
• With the rapid growth of digital transactions and real-time payment systems, secure data infrastructure is being treated as a cornerstone of financial stability.
• The initiative aligns with global best practices, similar to secure facilities operated by the US Federal Reserve Bank, such as the East Rutherford Operations Center.
• Other Indian institutions like the Securities and Exchange Board of India (SEBI) and the State Bank of India (SBI) are also developing their own dedicated data centres.
• As of 2025, RBI is also launching a pilot cloud facility with data centres in Mumbai and Hyderabad to provide sovereign local cloud storage solutions for financial institutions.

Recent News :

• In Jan 2026, The Reserve Bank of India (RBI) issued operational guidelines for extending interest subvention on pre- and post-shipment export credit under the Export Promotion Mission (EPM) – NIRYAT PROTSAHAN (1st Component).

ICRA Projects India’s Gross Domestic Product Growth to Moderate to 7.2% in Q3 FY26

• ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) has projected that India’s Gross Domestic Product (GDP) growth will moderate to 7.2% in Q3 FY26 (Oct–Dec 2025) from 8.2% in Q2 FY26.
• The slowdown is mainly driven by moderation in the services and agriculture sectors, despite improvement in industrial activity.
• Services sector growth is expected to decline to 7.8% in Q3 FY26 from 9.2% in Q2 FY26, reflecting weaker momentum.
• Agriculture growth is projected to ease to around 3% in Q3 compared to 3.5% in Q2 FY26.
• Industrial sector growth is forecast to rise to 8.3%, marking the highest level in six quarters.
• Services Gross Value Added (GVA) is estimated to moderate to 7.8% year-on-year (YoY) in Q3 FY26, down from 9.2% in Q2 FY26.
• Key factors behind the moderation include unfavourable base effects from FY25, a 23.4% contraction in central government capital expenditure, and subdued state government spending.
• Additional pressures stem from weak merchandise exports and a slowdown in services exports, which have fallen to their lowest levels in several quarters.
• Overall, the projection indicates a gradual economic moderation in FY26, with sectoral divergence between strong industrial output and weakening services and agriculture growth.

Reserve Bank of India raises banks’ acquisition financing exposure limit to 20% of Tier-1 capital

• The Reserve Bank of India (RBI) increased the aggregate exposure limit for acquisition financing by banks from 10% to 20% of Tier-1 capital, allowing higher participation in M&A transactions.
• Banks can now finance up to 75% of the acquisition value, while the remaining 25% must be funded by the acquirer’s own funds, ensuring promoter skin in the game.
• The aggregate Capital Market Exposure (CME) of a bank is capped at 40% of its eligible capital base, and acquisition finance exposure must remain within this limit.
• Financing is now permitted for acquisition of unlisted companies, provided the target company has minimum ₹500 crore net worth, is profitable for the last three years, and holds an investment-grade rating (BBB− or above).
• The acquisition must result in control of the target company and be completed through single or interconnected transactions within 12 months of the agreement.
• RBI has also allowed banks to provide loans against government securities, sovereign gold bonds, shares, NCDs, mutual funds, ETF units, and Infrastructure Investment Trusts (InvITs).
• The regulator fixed Loan-to-Value (LTV) ratios as follows: 75% against mutual funds, 60% against shares and NCDs, and 85% against debt mutual funds.
• The framework supports leveraged buyouts and acquisition of stressed assets while maintaining safety through a post-acquisition debt-to-equity ratio not exceeding 3:1.

Recent News :

• The Reserve Bank of India (RBI) issued draft amendment directions to clarify the calculation of Owned Fund / Tier-1 Capital for NBFCs and Asset Reconstruction Companies (ARCs) to comply with credit and investment concentration limits and invited public comments till 28 January 2026.

Reserve Bank of India revises NBFC registration norms under NBFC Amendment Directions 2026

• The Reserve Bank of India (RBI) issued the NBFC Amendment Directions, 2026, effective from 1 April 2026, to revise registration norms and regulatory treatment for Non-Banking Financial Companies (NBFCs) without public funds and customer interface.
• A new category called “Unregistered Type I NBFC” has been introduced for NBFCs with asset size below ₹1,000 crore, exempting them from registration under Section 45IA of the RBI Act, 1934.
• These NBFCs must operate on a sustainable and durable business model without using public funds and without customer interface, and must disclose their regulatory status and compliance in financial statements.
• Existing eligible NBFCs, including those holding Type I NBFC Certificate of Registration, can apply for deregistration through the PRAVAAH portal until 30 September 2026 with prescribed documents and board resolutions.
• NBFCs with asset size of ₹1,000 crore or more must mandatorily register as Type I NBFCs.
• NBFCs that want to access public funds or maintain customer interface must register as Type II NBFCs.
• The exemption applies only to registration requirements and does not exempt NBFCs from RBI Act provisions, supervisory oversight, AML/PMLA compliance, or penal action for violations.

 CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Prime Minister Narendra Modi Inaugurates India’s First Namo Bharat Regional Rapid Transit System and Dedicates Delhi–Meerut Corridor

• Prime Minister Narendra Modi inaugurated India’s first Namo Bharat Regional Rapid Transit System and dedicated the Delhi–Meerut Namo Bharat Corridor to the nation in Meerut, Uttar Pradesh.
• The project marks the first time in India that a Regional Rapid Transit System and a Metro service are operating from the same station and on the same track, ushering in a new era of integrated and world-class infrastructure.

Key Highlights

• The Delhi–Meerut Corridor is India’s first operational Regional Rapid Transit System corridor under the Namo Bharat initiative.
• Alongside the Regional Rapid Transit System, the Meerut Metro was also inaugurated from the same platform, introducing an integrated transport model for both intra-city and inter-city travel.
• For the first time in India, Namo Bharat trains and Metro rail services will operate from the same station and share the same track infrastructure, offering seamless transition for commuters.
• The corridor provides rapid and high-speed connectivity between Delhi and Meerut, significantly reducing travel time and improving daily commuting convenience.
• Passengers can travel within Meerut city using the Metro service and use Namo Bharat trains for regional travel to Delhi from the same platform.
• The project strengthens the National Capital Region connectivity and promotes the “Twin Cities” concept by integrating Meerut closely with Delhi.
• Major integration points along the corridor include:
• Sarai Kale Khan
• Anand Vihar
• Ghaziabad
• Meerut
• These stations provide multi-modal connectivity by linking Indian Railways, Metro services, and bus terminals for seamless transport movement.

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. The survey provides a data-driven framework focusing on investment-led growth, infrastructure expansion, industrial diversification, fiscal discipline, and human development. 

Vice President Releases Book Atal Bihari Vajpayee: The Eternal Statesman in New Delhi

• Vice President C. P. Radhakrishnan released the coffee table book Atal Bihari Vajpayee: The Eternal Statesman in New Delhi.
• He described the publication as a fitting tribute to Bharat Ratna Atal Bihari Vajpayee, stating that the book is more than a collection of photographs and celebrates the life, leadership, and enduring legacy of one of India’s tallest statesmen whose ideals continue to inspire the nation.

Key Highlights

• The book was released in New Delhi by Vice President C. P. Radhakrishnan.
• It highlights major milestones of Atal Bihari Vajpayee’s political journey, covering both personal and political dimensions of his life.
• The book portrays Vajpayee’s commitment to dialogue, consensus-building, and democratic values throughout his political career.
• Key leadership milestones highlighted include:
• Pokhran Nuclear Tests (1998), which strengthened India’s national security.
• Visionary infrastructure initiatives such as the Delhi Metro project, symbolising development-oriented governance.
• The Vice President observed that Vajpayee demonstrated how strength and sensitivity can coexist in leadership.
• The publication underscores three core pillars that defined Vajpayee’s leadership:
• Dialogue over confrontation
• Democracy as a foundational value
• Development as a national priority

Ministry of Home Affairs Launches ‘Prahaar’ – India’s New National Counter-Terrorism Policy

• The Ministry of Home Affairs has launched ‘Prahaar’, India’s new national counter-terrorism policy, outlining a zero-tolerance framework against terrorism.
• Announced, the strategy aims to address evolving terror threats through prevention, intelligence-led coordination, technological upgradation, and strict adherence to the rule of law.
• The government reiterated that terrorism has no religion, nationality, or community, and that violence cannot be justified under any circumstances.

Key Highlights

• The Prahaar policy is built on the pillars of prevention, response, capacity building, and legal safeguards.
• Core objectives include:
• Preventing terror attacks before they occur
• Ensuring swift and proportionate response mechanisms
• Strengthening coordination between Central and State agencies
• Protecting human rights within the constitutional framework
• Reducing conditions that enable radicalisation
• Strengthening community resilience
• The strategy adopts a whole-of-government and whole-of-society approach, integrating intelligence agencies, law enforcement bodies, and community participation.
• The policy addresses emerging and high-technology threats such as:
• Cross-border terrorism and extremist networks
• Use of drones in Punjab and Jammu and Kashmir
• Online propaganda and encrypted communication platforms
• Terror financing through the dark web and crypto-wallet channels
• Threats involving Chemical, Biological, Radiological, Nuclear, Explosive and Digital (CBRNED) materials
• Cyber-attacks by State and non-State actors
• India’s counter-terror response under Prahaar will be proactive and intelligence-driven. Key institutional mechanisms include:
• Multi Agency Centre for real-time intelligence sharing
• Joint Task Force on Intelligence for coordinated intelligence operations
• National Investigation Agency for specialised terror investigations
• National Security Guard as the nodal counter-terror force

RECENT NEWS

• The Ministry of Home Affairs in India has revoked the Foreign Contribution (Regulation) Amendment Act, 2020, registration of the Centre for Policy Research (CPR) in New Delhi, alleging violations. The leading public policy research institution, spearheaded by Congress leader Mani Shankar Aiyar’s daughter, Yamini Aiyar, has faced government scrutiny for purportedly breaching FCRA regulations.

Union Home Minister Amit Shah Laid Foundation Stone Laid for 10th Assam Police Battalion Headquarters in Kamrup

• Union Home Minister Amit Shah laid the foundation stone of the 10th Battalion Headquarters of the Assam Police in Kamrup and asserted that strict action against infiltration will continue.
• Addressing a public gathering, he stated that Assam is set to become the industrial hub of eastern and North-Eastern India within the next five years.
• The event was attended by Governor Lakshman Prasad Acharya and Chief Minister Himanta Biswa Sarma.

Key Highlights

• The new Assam Police Battalion Headquarters will be developed across 124 bighas of land with modern infrastructure facilities.
• Major facilities to be developed include:
• Barracks for 750 male and 450 female personnel
• Residential and operational infrastructure
• Hospital and training centre
• Firing range and surveillance facilities
• Sports complex
• Expansion of self-help groups for women and granting of land rights to indigenous families were also highlighted as key welfare measures.
• Referring to the recent Indian Air Force aircraft landing on a highway in Moran, he described it as a symbol of Assam’s rapid infrastructure transformation.
• He credited Prime Minister Narendra Modi for prioritising development of the North-East region through frequent visits and focused policies.
• He mentioned that recognition of Assamese hero Lachit Borphukan has enhanced Assam’s cultural identity at the national level.
• The long-term strategy for Assam’s growth includes:
• Strong internal security
• Crackdown on infiltration
• Industrial investments
• Employment generation
• Infrastructure expansion
• The Assam Police Battalion supports district police in maintaining law and order and guarding vital installations round the clock.
• It plays a crucial role in static security duties, counter-insurgency operations, and protection of communication lines and civilians.
• Personnel are deployed at inter-state Border Out Posts in remote districts such as Tinsukia, Dibrugarh, Jorhat, Karbi Anglong and Cachar.
• Many units also operate consumer cooperative societies and family welfare centres for the benefit of personnel and their families.

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

Punjab Launches ‘Meri Rasoi’ Scheme for 40 Lakh Families

• The Punjab government has launched the ‘Meri Rasoi’ scheme to provide nutritional support to nearly 40 lakh economically weaker families across the state.
• The announcement was made after a Cabinet meeting in Chandigarh by Chief Minister Bhagwant Mann.
• The scheme will provide free food kits to blue card holder families, in addition to wheat already supplied under existing welfare programmes.
• The announcement comes ahead of the Punjab Budget Session scheduled from March 6 to March 16, 2026.

Key Highlights

• The scheme targets approximately 40 lakh blue card holder families belonging to economically weaker sections.
• Food kits will be distributed free of cost for three months at a time.
• For the first phase covering April, May and June 2026, each eligible family will receive:
• 2 kilogram chana dal
• 2 kilogram sugar
• 1 kilogram iodized salt
• 200 gram turmeric powder
• 1 litre mustard oil
• The scheme is aimed at addressing nutritional gaps among low income households, especially children.
• The government stated that the initiative will help ensure balanced and nutritious food supply, improved child health and reduction in malnutrition.
• Regular quality checks will be conducted to ensure standard food quality for beneficiaries.
• The initiative strengthens household food security and social welfare delivery in the state.
• The Chief Minister emphasised that while Punjab contributes significantly to India’s food security, the state must also ensure nutrition security for its own citizens.

About Punjab:

• Chief Minister: Bhagwant Mann ​
• Governor: Gulab Chand Kataria
• Capital: Chandigarh ​
• Wildlife Sanctuaries: Abohar Wildlife Sanctuary, Aishvan Wildlife Sanctuary, Bir Bhadson Wildlife Sanctuary, Bir Bunerheri Wildlife Sanctuary, Bir Dosanjh Wildlife Sanctuary ​

RECENT NEWS

• The Punjab government has started a major healthcare scheme called Mukh Mantri Sehat Yojana. Under this scheme, every family in the state will get free and cashless medical treatment worth up to ₹10 lakh. The aim is to make quality healthcare available to all residents without worrying about hospital expenses.

India Removes Most Favoured Nation Clause from India–France Tax Treaty

• India has removed the Most Favoured Nation clause from its Double Taxation Avoidance Convention with France.
• The revised India–France tax treaty was signed during the recent visit of French President Emmanuel Macron.
• The amendment modifies dividend taxation, capital gains rules and introduces global anti tax avoidance standards.
• The removal of the Most Favoured Nation clause ends the automatic extension of tax benefits granted to other countries.

Key Highlights

• The India–France Double Taxation Avoidance Convention was originally signed in 1992 to prevent double taxation of the same income in both countries.
• The Most Favoured Nation clause earlier allowed France to automatically claim lower tax rates or favourable provisions if India granted such benefits to another country in a separate treaty.
• With the removal of this clause, France can now claim only those benefits that are explicitly mentioned in the revised treaty text.
• The decision aims to reduce prolonged tax disputes, avoid automatic interpretation of future treaty concessions and protect India’s sovereign taxation rights.
• Capital gains from the sale of shares will now be taxed in the country where the company is located.
• If a French investor sells shares of an Indian company, India will have full taxing rights on such gains.
• The updated treaty incorporates Base Erosion and Profit Shifting standards to prevent tax avoidance and profit shifting.
• New provisions include stronger permanent establishment rules, clearer definition of fees for technical services and improved exchange of tax information between the two countries.
• The amendment brings greater legal clarity in cross border taxation and aligns the treaty with global tax transparency standards.
• The revised treaty will come into force after both India and France complete their respective domestic ratification procedures.
• The removal of the Most Favoured Nation clause marks a significant shift in India’s treaty policy by ensuring that future tax concessions are granted only through explicit negotiation and written agreement.

Delhi Airport Ranked 5th Busiest in Asia Pacific in 2025

• Indira Gandhi International Airport has been ranked the 5th busiest airport in the Asia Pacific region in 2025, according to the latest data released by OAG.
• The airport recorded 18 million one way departing seats in 2025, marking a significant jump from its 9th position in 2019 before the Covid 19 pandemic.
• The ranking highlights India’s strong aviation growth, rising domestic air travel demand, and sustained airline capacity expansion.

Key Highlights

• Indira Gandhi International Airport, Delhi secured 5th position among the busiest airports in the Asia Pacific region in 2025 as per OAG data.
• The airport recorded 46.18 million one way departing seats in 2025, reflecting substantial growth in scheduled airline seat capacity.
• In 2019, before the Covid 19 pandemic, Delhi Airport was ranked 9th in the Asia Pacific region, showing a sharp improvement in global aviation standings.
• The ranking released by OAG is based strictly on scheduled airline seat supply and not on actual passenger footfall.
• Delhi Airport surpassed several major Asia Pacific aviation hubs in 2025 including
• Singapore Changi Airport which recorded 42.57 million seats
• Suvarnabhumi Airport which recorded 39.49 million seats
• Incheon International Airport which recorded 43.40 million seats
• The improvement in ranking reflects a structural shift in Asia Pacific aviation trends after the pandemic, with India emerging as a high growth aviation market.
• Surging domestic air travel demand in India has been a primary factor contributing to the expansion of seat capacity at Delhi Airport.
• Capacity growth has been supported by expansion in both domestic and international flight operations from the national capital.
• A major contribution to this growth came from aggressive expansion by IndiGo, which increased fleet size, added new routes, and strengthened connectivity from Delhi.
• IndiGo’s focus on high frequency domestic routes and expanding international operations significantly boosted overall scheduled seat capacity.
• Rising middle class income levels, affordable airfares, improved airport infrastructure, and enhanced connectivity across tier two and tier three cities further strengthened aviation demand.
• The latest ranking underscores India’s growing influence and strategic importance in the Asia Pacific aviation market.

Ministry of Road Transport and Highways Launches Mobile Quality Control Vans to Enhance National Highway Quality

• To strengthen construction standards and ensure durability of highways, the Ministry of Road Transport and Highways (MoRTH) has launched Mobile Quality Control Vans (MQCVs) for on-site monitoring of ongoing National Highway projects.
• The initiative aims to improve quality, safety and transparency in highway development across the country. Pilot implementation has commenced in selected states.

Key Highlights

• Mobile Quality Control Vans (MQCVs) introduced to conduct real-time quality checks at highway construction sites.
• Pilot projects launched in Rajasthan, Gujarat, Karnataka and Odisha.
• Vans equipped with advanced non-destructive testing equipment including Ultrasonic Pulse Velocity Meters, Rebound Hammers, Asphalt Density Gauges and Reflectometers.
• Enables scientific assessment of road strength, structural integrity and surface quality without damaging infrastructure.
• Field offices to take immediate corrective action upon detection of deficiencies.
• Development of a National Highway Quality Monitoring Portal for digital reporting and monitoring.
• Portal to provide real-time Global Positioning System tracking of Mobile Quality Control Vans.
• Inspection reports to be uploaded online to ensure greater transparency and accountability.
• Initiative aligns with the government’s focus on quality, durability and safety amid rapid National Highway expansion.

CURRENT AFFAIRS : INTERNATIONAL NEWS

South Korea’s Former President Yoon Suk Yeol Gets Life Imprisonment for 2024 Martial Law Order

• Former South Korean President Yoon Suk Yeol was sentenced to life imprisonment for imposing martial law in 2024.
• He was convicted of leading an insurrection after deploying military troops around the National Assembly on 3 December 2024.
• The martial law decree temporarily suspended political activities, controlled media and publications, and allowed arrests without warrants.
• The martial law order lasted about 6 hours, before lawmakers broke through the military blockade and unanimously voted to lift it.
• Yoon Suk Yeol became the first former South Korean president to receive a life sentence since former military dictator Chun Doo-hwan, who was sentenced to death in 1996 for the 1979 coup and the 1980 Gwangju democratic protest crackdown.
• The case highlights issues related to constitutional democracy, civil-military relations, and political accountability.

About South Korea :

• Capital : Seoul
• Currency : South Korean Won (KRW).

India and Kenya collaborate to introduce DigiLocker pilot in Kenya

• India and Kenya signed an Implementation Framework Agreement to launch a DigiLocker pilot project in Kenya.
• The agreement was signed on the sidelines of the AI Impact Summit in New Delhi, highlighting digital cooperation between the two nations.
• DigiLocker will enable secure digital storage and real-time verification of official documents in Kenya.
• The platform aims to reduce paperwork and improve access to public services for citizens, students, and businesses.
• In India, DigiLocker has over 500 million registered users and more than nine billion documents issued digitally across over 2,000 services.
• DigiLocker has become a backbone of paperless, presence-less governance in India.
• This initiative strengthens inclusive Digital Public Infrastructure (DPI) collaboration between India and Kenya.

About Kenya :

• Capital : Nairobi
• Currency : Kenyan Shilling.

Poland’s withdrawal from 1997 Ottawa Anti-Personnel Mine Ban Treaty comes into force

• Poland has officially withdrawn from the Ottawa Convention (1997 Anti-Personnel Mine Ban Treaty), with the exit taking legal effect.
• Poland plans to deploy anti-personnel and anti-tank landmines along its eastern borders as part of its national security strategy.
• The Ottawa Convention prohibits the use, stockpiling, production, and transfer of anti-personnel mines due to their long-term danger to civilians, but anti-tank mines are not banned under the treaty.
• Poland had ratified the Ottawa Convention in 2012 and destroyed its landmine stockpiles by 2016, but now plans to restart domestic landmine production, citing security threats.
• The decision is mainly driven by perceived threats from Russia and forms part of Poland’s “Eastern Shield” (Tarcza Wschód) defence strategy.
• The Eastern Shield strategy aims to strengthen border defence against threats from Russia and Belarus through a multi-billion dollar network of fortifications.
• Several neighbouring countries have already reconsidered treaty participation or followed suit due to security concerns, including Finland, Estonia, Latvia, Lithuania, and Ukraine.

About Poland :

• President : Karol Nawrocki
• Prime Minister : Donald Tusk
• Capital : Warsaw
• Currency : Złoty

United States President Trump’s Board of Peace holds first meeting on Gaza reconstruction; India attends as observer

• United States (US) President Donald Trump’s “Board of Peace” held its first meeting in Washington, D.C., to discuss Gaza’s reconstruction, with India attending only as an observer, reflecting a cautious diplomatic approach.
• India has expressed support for the Gaza Peace Plan and related UN efforts (including UNSC Resolution 2803) but avoided full membership, balancing engagement with the US while maintaining strategic autonomy.
• The Board of Peace includes 27 member countries, mainly from West Asia (such as Israel, Saudi Arabia, UAE, Qatar, and Egypt) and some US allies, including Pakistan, while major powers like Russia, China, France, and the UK are absent, raising questions about its legitimacy.
• India joined as an observer to monitor developments, protect its interests, and avoid exclusion, especially given Pakistan’s presence and the possibility of India-Pakistan issues being raised.
• President Trump announced that nine member countries collectively pledged $7 billion for Gaza’s relief and reconstruction, while the United States pledged an additional $10 billion for the Board of Peace, though specific allocations were not detailed.

CURRENT AFFAIRS: AWARDS AND HONOURS

Shashi Tharoor Conferred Honorary Doctor of Letters by St Xavier’s University, Kolkata

• Shashi Tharoor, Member of Parliament from Thiruvananthapuram, was conferred an Honorary Doctor of Letters (Doctorate of Literature – Honoris Causa) by St Xavier’s University, Kolkata during its seventh convocation ceremony
• The ceremony took place at the Biswa Bangla Convention Centre, where more than 1,000 students received their degrees.
• Tharoor described the recognition as his first honorary doctorate in India, calling it deeply special as a former Xaverian.

Key Highlights

• Tharoor was awarded the Doctor of Letters (D.Litt) – Honoris Causa at the university’s 7th convocation.
• He stated that although he had earned one doctorate academically and received honorary degrees abroad, this was his first honorary doctorate in India, making it particularly meaningful.
• He recalled serving as the first convocation speaker of the university seven years ago.
• 1,052 undergraduate and postgraduate students were awarded degrees during the ceremony.
• 25 Doctor of Philosophy scholars were felicitated.
• 17 gold medallists were honoured, with Tharoor expressing happiness that most medal recipients were women.
• In his address, he emphasised that education should go beyond information to formation, and beyond competence to conscience.
• He urged students to combine skill with sensitivity and success with service, stressing the importance of civic responsibility.
• Reflecting on his Jesuit education, he highlighted values such as intellectual curiosity, mental rigour, respect for hard work, self discipline and moral questioning.
• Tharoor studied at St Xavier’s Collegiate School, Kolkata between 1969 and 1971, making the honour emotionally significant.
• A four term Member of Parliament since 2009, he is known for his diplomatic career at the United Nations, literary contributions and public discourse in India.

Boong Wins Best Children’s and Family Film at BAFTA Awards 2026

• In a historic achievement for Indian cinema, Boong became the first Indian film to win in the Best Children’s and Family Film category at the 79th British Academy Film Awards 2026 held in London.
• The Manipuri language debut feature brought global recognition to regional storytelling and marked a breakthrough moment for India at the prestigious BAFTA Awards.

Key Highlights

• Boong won the Best Children’s and Family Film award at the 79th British Academy Film Awards 2026.
• The film was the only Indian nominee at the awards this year.
• Boong competed against major international titles including
• Arco
• Lilo & Stitch
• Zootopia 2
• This marks the first time an Indian film has won in the Best Children’s and Family Film category at the BAFTA Awards.
• The film is directed by Lakshmipriya Devi and is her debut feature film. It is a Manipuri language production that highlights childhood innocence, identity, longing, and hope.
• Boong was produced by Farhan Akhtar along with Vikesh Bhutani, Alan McAlex, Ritesh Sidhwani, and Shujaat Saudagar.
• Farhan Akhtar attended the ceremony in London and received the award on behalf of the team.
• The film stars Gugun Kipgen and Bala Hijam in lead roles, delivering emotionally powerful performances.
• The story follows a young boy from Manipur who wishes to surprise his mother by bringing his father back home. The narrative explores themes of family, loss, resilience, and hope through a child’s perspective.
• Before winning at the BAFTA Awards 2026, the film had its premiere at the Toronto International Film Festival 2024 in the Discovery section.
• It was also screened at the Warsaw International Film Festival 2024, the International Film Festival of India, the MAMI Mumbai Film Festival 2024, and the Indian Film Festival of Melbourne 2025.
• The BAFTA Awards are presented by the British Academy of Film and Television Arts and are regarded among the most prestigious global film honours.
• Boong’s victory represents a major milestone for Indian regional cinema and enhances India’s global cultural footprint in international film awards.

CURRENT AFFAIRS : DEFENCE NEWS

India–US Special Forces Exercise Vajra Prahar 2026 Held in Himachal Pradesh

• The 16th edition of the India–US joint Special Forces exercise Vajra Prahar is being held at the Special Forces Training School, Bakloh, Himachal Pradesh, from 23 February to 15 March 2026.
• The exercise involves Special Forces from the Indian Army and the US Army Green Berets, aimed at strengthening mutual trust, interoperability, and joint operational readiness.

Key Highlights :

• The 15th edition (2024) was conducted in Idaho, USA (at the Orchard Combat Training Centre), while the 2023 edition took place in Umroi, Meghalaya, featuring helocasting operations and joint drills.
• The exercise facilitates the exchange of advanced special operations tactics, techniques, and procedures between India and the US.
• 45 personnel from each country participate, representing Indian Special Forces units and US Green Berets.
• The Indian Air Force (IAF) will conduct Exercise Vayushakti-26 on 27 February 2026 at the Pokhran Air-to-Ground Range, Jaisalmer.
• Exercise Vayushakti-26 showcases the IAF’s rapid response capability, ability to dominate the operational environment, and support in humanitarian assistance and disaster management, including airlift, rescue, and evacuation operations.
• The exercise includes full-spectrum operations involving fighter, transport, and helicopter platforms such as Tejas, Rafale, Jaguar, Mirage-2000, Sukhoi-30MKI, MiG-29, Hawk, C-130J, C-295, C-17, Chetak, ALH MK-IV, Mi-17 IV, LCH, Apache, Chinook, and Remotely Piloted Aircraft (RPA).
• Advanced weapon systems like Short Range Loitering Munitions (SRLM), Akash, SpyDer, and Counter Unmanned Aerial Systems (CUAS) will be employed in day, dusk, and night missions to demonstrate IAF versatility and readiness.
• The exercise environment includes desert and semi-desert terrains, preparing troops for joint Special Forces operations under challenging operational conditions.

Embraer and Mahindra Partner to Set Up C-390 Maintenance, Repair and Overhaul Facility in India

• Embraer (Brazil) and Mahindra Group (India) have announced collaboration plans to establish a state-of-the-art Maintenance, Repair and Overhaul (MRO) facility in India for the C-390 Millennium military transport aircraft.
• The proposed facility is subject to the selection of the C-390 Millennium by the Indian Air Force (IAF) under the Medium Transport Aircraft (MTA) procurement programme.
• A Strategic Cooperation Agreement (SCA) was signed in October 2025 to enable production of the C-390 in India, supporting the ‘Make in India’
• The proposed MRO facility will provide end-to-end maintenance support, including base and heavy maintenance, structural inspection and testing, component repair and overhaul, avionics support, and training services.
• The facility aims to ensure high operational readiness, improved aircraft availability, and comprehensive in-country sustainment support for the C-390 fleet.
• The C-390 Millennium is a multi-mission military transport aircraft with a payload capacity of up to 26 tonnes.
• It offers higher speed, greater operational range, and enhanced performance compared to other medium-sized transport aircraft.
• The collaboration reflects deepening India–Brazil defence cooperation and strengthens India’s aerospace and defence manufacturing ecosystem.

Indian Navy to Commission INS Anjadip to Boost Anti-Submarine Warfare Capability

• The Indian Navy (IN) is set to enhance its Anti-Submarine Warfare (ASW) capability with the commissioning of INS Anjadip, the third vessel of the eight-ship ASW Shallow Water Craft (ASW-SWC)
• The commissioning ceremony will be held at Chennai Port on 27 February 2026 and will be presided over by Admiral Dinesh K Tripathi, Chief of Naval Staff (CNS).
• The induction of INS Anjadip highlights India’s progress toward Aatmanirbhar Bharat in Defence, showcasing indigenous warship design and construction capability.
• The vessel was built by Garden Reach Shipbuilders & Engineers (GRSE), Kolkata, and is designed for littoral combat operations in coastal and shallow waters critical for maritime security.
• INS Anjadip is designed as a “Dolphin Hunter”, focusing on detection, tracking, and neutralisation of enemy submarines in coastal regions.
• The ship is equipped with advanced indigenous ASW weapons and sensors, including Hull Mounted Sonar Abhay, Lightweight Torpedoes, and ASW Rockets.
• Apart from ASW operations, the ship can perform Coastal Surveillance, Low-Intensity Maritime Operations (LIMO), and Search and Rescue (SAR)
• The 77-metre-long warship uses Water-Jet Propulsion technology, enabling a maximum speed of 25 knots for rapid response operations.
• The ship is named after the Anjadip Island, a historically significant island near Karwar coast.
• The commissioning strengthens India’s maritime security and supports the vision of transforming the Indian Navy into a ‘Builder’s Navy’ through indigenous defence manufacturing.
• The project is part of India’s broader strategy to strengthen coastal defence, naval warfare capabilities, and blue economy security.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India’s 11,099 km Coastline and 24 Lakh sq. km Exclusive Economic Zone Remain Underutilised for Deep-Sea Fishing Resources

• India has a coastline of ~11,099 km and an Exclusive Economic Zone (EEZ) of 24 lakh sq. km, but fishing is mostly limited to 40–50 nautical miles, leaving deep-sea resources like tuna
• The Union Budget announced a framework for sustainable fisheries in the EEZ and high seas, focusing on Andaman & Nicobar and Lakshadweep, which hold 49% of India’s EEZ and a potential of 48 lakh tonnes.
• The government notified the Sustainable Harnessing of Fisheries in the EEZ Rules, 2025 on 4 November 2025 under the Maritime Zones Act, 1976 to promote responsible fishing, marine conservation, international compliance, and fisher livelihoods.
• Union Minister Rajiv Ranjan Singh launched the Access Pass for Fishing in India’s EEZ at Veraval, Gujarat, on 20 February 2026, distributing passes to 37 fishermen from 13 coastal States/UTs.
• The Access Pass enables deep-sea fishing, supports fisher cooperatives/FFPOs, and increases income through higher-value catch.
• The Access Pass is issued free of cost via the upgraded ReALCRaft portal, which enables vessel registration, licensing, ownership transfer, and digital delivery of passes.
• The ReALCRaft portal is integrated with the Marine Products Export Development Authority (MPEDA) portal for Catch Certificates and with the Export Inspection Council (EIC) for Health Certificates, creating a single‑window digital ecosystem.
• Traditional non-motorized fishing crafts are exempted from the Access Pass requirement. Only mechanised fishing vessels (~64,000) and large motorised vessels above 24 metres require the Pass.
• The Department of Fisheries plans to roll out structured training and capacity-building programmes through CIFNET, FSI, and in partnership with coastal States/UTs to equip fishers with deep-sea fishing skills.
• Government initiatives include installing 1 lakh transponders (50,000 already installed) for tracking and safety, providing ₹5 lakh accident insurance, and offering livelihood support for ~6 lakh fisher families during fishing bans.

CURRENT AFFAIRS : APPS & PORTALS

Delhi Chief Minister Rekha Gupta Unveils Jan Sunwai Portal, EWS Admission Platform and e-District Integration Initiatives

• Delhi Chief Minister Rekha Gupta launched multiple Information Technology (IT) initiatives at the Delhi Secretariat, New Delhi, to strengthen digital governance and citizen services.
• The key initiative, CM Jan Sunwai Portal and Mobile App, establishes a centralised grievance redressal system covering all Delhi Government Departments, MCD, DDA, and Delhi Police.
• Complaints under Jan Sunwai can be registered via online portal, mobile app, call centre (1902), and offline submission at CM Office, ensuring multi-channel accessibility.
• The grievance system follows a three-tier mechanism comprising Grievance Redressal Officer (GRO), Appellate Authority (AA), and Final Appellate Authority (FAA) with unique reference IDs, SMS alerts, and auto-escalation of unresolved complaints.
• A secure cloud-based admission portal has been launched for EWS (Economically Weaker Section), DG (Disadvantaged Group), and CWSN (Children With Special Needs) categories in private schools.
• The admission system ensures Aadhaar-based verification, automated eligibility checks, digital certificate validation, and transparent seat allocation.
• e-District services have been integrated with over 7,000 Common Service Centres (CSCs), enabling citizens to access certificates and welfare services at a nominal fee of ₹30 per service.
• The Digital Asset Portal (DAP) and CM Pragati Portal enable real-time monitoring of government land, infrastructure projects, approvals, and delays, improving accountability and cost control.
• The government has implemented a Cyber Crisis Management Plan (CCMP) to enhance cybersecurity preparedness.
• Expansion of the e-Office system across 200+ departments and proposed WhatsApp-based citizen services aim to improve efficiency, transparency, and digital accessibility in Delhi governance.

CURRENT AFFAIRS : OBITUARIES

Ex-Union Minister and TMC Founder Mukul Roy Passed away at 71 in Kolkata

• Former Union Minister Mukul Roy, a founding member of the All India Trinamool Congress (TMC), passed away at the age of 71 in Kolkata, West Bengal.

About Mukul Roy :

• He was born on 17 April 1954 in Kanchrapara, West Bengal, and held a B.Sc. degree from the University of Calcutta and a Master’s degree from Madurai Kamaraj University.
• He began his political career with the Youth Congress and became a founding member of TMC in 1998 along with Mamata Banerjee after her split from the Indian National Congress.
• He was first elected to the Rajya Sabha in 2006 and later served as the Leader of the TMC Parliamentary Party in Rajya Sabha (2009–2012).
• During the UPA II Government under Prime Minister Manmohan Singh, he served as Minister of State (MoS) for Shipping (2009–2011) and later became the 32nd Union Railway Minister in 2012.
• He became Railway Minister in 2012 after the resignation of Dinesh Trivedi and rolled back the proposed railway fare hike, but his tenure ended in September 2012 when TMC withdrew support from UPA.
• In July 2011, he was removed from the Railways portfolio after failing to follow the Prime Minister’s directive regarding a train derailment in Assam.
• His political career faced challenges due to alleged links to the Saradha chit fund case and the Narada sting operation in 2015.
• He resigned from TMC in September 2017, was suspended for six years, and later resigned from the Rajya Sabha before joining the Bharatiya Janata Party (BJP) in November 2017.
• He won the 2021 West Bengal Assembly Election as a BJP candidate from Krishnanagar Uttar, but rejoined TMC in June 2021.
• In January 2022, the West Bengal Assembly Speaker rejected a plea to disqualify him under the Anti-Defection Law.
• In November 2025, the Calcutta High Court cancelled his MLA membership on grounds of defection, though the order was subsequently stayed by the Supreme Court in January 2026.

Daily CA One- Liner: February 25

• Prime Minister Narendra Modi inaugurated India’s first Namo Bharat Regional Rapid Transit System and dedicated the Delhi–Meerut Namo Bharat Corridor to the nation in Meerut, Uttar Pradesh
• Vice President C. P. Radhakrishnan released the coffee table book Atal Bihari Vajpayee: The Eternal Statesman in New Delhi
• The Ministry of Home Affairs has launched ‘Prahaar’, India’s new national counter-terrorism policy, outlining a zero-tolerance framework against terrorism
• Union Home Minister Amit Shah laid the foundation stone of the 10th Battalion Headquarters of the Assam Police in Kamrup and asserted that strict action against infiltration will continue
• The Punjab government has launched the ‘Meri Rasoi’ scheme to provide nutritional support to nearly 40 lakh economically weaker families across the state
• India has removed the Most Favoured Nation clause from its Double Taxation Avoidance Convention with France
• Indira Gandhi International Airport has been ranked the 5th busiest airport in the Asia Pacific region in 2025, according to the latest data released by OAG
• To strengthen construction standards and ensure durability of highways, the Ministry of Road Transport and Highways (MoRTH) has launched Mobile Quality Control Vans (MQCVs) for on-site monitoring of ongoing National Highway projects
• Shashi Tharoor, Member of Parliament from Thiruvananthapuram, was conferred an Honorary Doctor of Letters (Doctorate of Literature – Honoris Causa) by St Xavier’s University, Kolkata during its seventh convocation ceremony
• In a historic achievement for Indian cinema, Boong became the first Indian film to win in the Best Children’s and Family Film category at the 79th British Academy Film Awards 2026 held in London
• The Reserve Bank of India (RBI) has launched its second high-security Data Centre in Bhubaneswar, Odisha, to strengthen the safety, resilience, and continuity of critical financial infrastructure.
• ICRA Limited (formerly Investment Information and Credit Rating Agency of India Limited) has projected that India’s Gross Domestic Product (GDP) growth will moderate to 7.i2% in Q3 FY26 (Oct–Dec 2025) from 8.2% in Q2 FY26.
• The Reserve Bank of India (RBI) increased the aggregate exposure limit for acquisition financing by banks from 10% to 20% of Tier-1 capital, allowing higher participation in M&A transactions.
• The Reserve Bank of India (RBI) issued the NBFC Amendment Directions, 2026, effective from 1 April 2026, to revise registration norms and regulatory treatment for Non-Banking Financial Companies (NBFCs) without public funds and customer interface.
• Former South Korean President Yoon Suk Yeol was sentenced to life imprisonment for imposing martial law in 2024.
• India and Kenya signed an Implementation Framework Agreement to launch a DigiLocker pilot project in Kenya.
• Poland has officially withdrawn from the Ottawa Convention (1997 Anti-Personnel Mine Ban Treaty), with the exit taking legal effect.
• United States (US) President Donald Trump’s “Board of Peace” held its first meeting in Washington, D.C., to discuss Gaza’s reconstruction, with India attending only as an observer, reflecting a cautious diplomatic approach.
• The 16th edition of the India–US joint Special Forces exercise Vajra Prahar is being held at the Special Forces Training School, Bakloh, Himachal Pradesh, from 23 February to 15 March 2026.
• Embraer (Brazil) and Mahindra Group (India) have announced collaboration plans to establish a state-of-the-art Maintenance, Repair and Overhaul (MRO) facility in India for the C-390 Millennium military transport aircraft.
• The Indian Navy (IN) is set to enhance its Anti-Submarine Warfare (ASW) capability with the commissioning of INS Anjadip, the third vessel of the eight-ship ASW Shallow Water Craft (ASW-SWC)
• India has a coastline of ~11,099 km and an Exclusive Economic Zone (EEZ) of 24 lakh sq. km, but fishing is mostly limited to 40–50 nautical miles, leaving deep-sea resources like tuna
• Delhi Chief Minister Rekha Gupta launched multiple Information Technology (IT) initiatives at the Delhi Secretariat, New Delhi, to strengthen digital governance and citizen services.
• Former Union Minister Mukul Roy, a founding member of the All India Trinamool Congress (TMC), passed away at the age of 71 in Kolkata, West Bengal.