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CURRENT AFFAIRS: BANKING & FINANCE

Banking Alert: National Payment Corporation of India Recommends Higher Automatic Teller Machine Fees for Cash and Non-Cash Transactions

• National Payments Corporation of India (NPCI) recommends increasing ATM cash transaction fees from ₹21 to ₹22 per transaction beyond the free limit.
• ATM interchange fee hike proposed: ₹17 to ₹19 for cash transactions and ₹6 to ₹7 for non-cash transactions.
• Banks pay interchange fees when their customers use another bank’s ATM.
• For non-metro areas, industry players recommend ₹21 per cash transaction and ₹7 for non-cash transactions.
• Current RBI rules allow 5 free ATM transactions per month in non-metro areas and 3 free transactions in metro cities (Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, New Delhi).
• RBI’s ATM Interchange Committee, including IBA CEO, SBI, and HDFC Bank officials, submitted recommendations in September 2023.
• Rising ATM operation costs due to inflation, borrowing costs, cash replenishment, and compliance expenses.
• RBI reviewing recommendations from NPCI (May 2024) and ATM Interchange Committee (September 2023).

Recent News:

• Unified Payments Interface (UPI) transaction IDs will no longer be allowed to contain special characters from February 1, the National Payments Corporation of India (NPCI) announced.

About NPCI:

• Headquarters: Mumbai, Maharashtra, India
• Founded: 2008
• CEO: Dilip Asbe
• Key Initiatives: Unified Payments Interface (UPI), Immediate Payment Service (IMPS), RuPay (domestic card payment network), Bharat Bill Payment System (BBPS), Aadhaar Enabled Payment System (AePS)

Reserve Bank of India Releases Latest Data on ₹2000 Denomination Banknote Withdrawal

• Reserve Bank of India (RBI) announced withdrawal of ₹2000 banknotes on May 19, 2023; latest update published on January 1, 2025.
• Deposit/exchange facility at bank branches was available until October 7, 2023.
• RBI’s 19 Issue Offices continue to exchange ₹2000 notes since May 19, 2023, and accept deposits from October 9, 2023.
• The public can send ₹2000 banknotes via India Post to RBI Issue Offices for deposit.
• ₹2000 banknotes in circulation dropped from ₹3.56 lakh crore (May 19, 2023) to ₹6,577 crore (January 31, 2025)—98.15% returned.
• ₹2000 banknotes remain legal tender.

Recent News:

• In January 2025, The Reserve Bank of India (RBI) established a Standing External Advisory Committee (SEAC), chaired by former Deputy Governor M. Jain, to evaluate applications for Universal and Small Finance Banks.

About RBI :

• Established : 1 April 1935
• Headquarters : Mumbai, Maharashtra, India
• Governor : Sanjay Malhotra

Sharan Hegde's 1% Club becomes the first finfluencer-led company to get Securities and Exchange Board of India’s Registered Investment Adviser (RIA) license

• The 1% Club, founded by Sharan Hegde, becomes India’s first finfluencer-led startup to secure a Registered Investment Adviser (RIA) license from Securities and Exchange Board of India (SEBI).
• Compliance & Transparency: Achieved after a six-month review process involving legal and compliance experts.
• Market Focus: Aims to serve India's middle-class segment, addressing the gap in professional financial advice.
• SEBI Data: India needs 1 million financial planners, but only 1,300 certified professionals exist currently.
• Personal CFO Division: Offers one-on-one financial planning, portfolio reviews, and risk management.
• 40-member advisory team managing ₹750 crore in assets.
• Plans to expand across major Indian cities.

Future Plans:

• Launch SEBI-approved stock recommendations, thematic portfolios, and debt solutions.
• Explore partnerships with established wealth management firms.
• Funding: Raised ₹10 crore in October 2023 from Nikhil Kamath (Zerodha) and Abhijeet Pai (Puzzolana Group).

Who is a SEBI Registered Investment Advisor (RIA)?

• A SEBI Registered Investment Advisor (SEBI RIA) is a professional or a firm registered with SEBI under the Investment Advisers Regulations, 2013.
• These advisors are authorised to provide investment advice and financial planning services to clients.
• They must meet the eligibility criteria set by SEBI
• This includes having a bachelor's degree, relevant professional certifications, and passing the NISM-Series-X-A: Investment Advisor (Level 1) Certification Examination.

Recent News:

• SEBI launched 'Dharohar' on January 26, 2025, a digital repository showcasing over 150 years of India's securities market history.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

CURRENT AFFAIRS: NATIONAL NEWS

India’s First White Tiger Breeding Centre Approved in Madhya Pradesh’s Rewa

• The Central Zoo Authority (CZA) has given final approval for India’s first white tiger breeding centre, to be established in Govindgarh, Rewa district, Madhya Pradesh.
• This project is a landmark step in wildlife conservation, as Rewa holds historical significance for being home to the last known wild white tiger.

Key Highlights of the White Tiger Breeding Centre

• Final approval granted by CZA for the breeding centre.
• Located in Govindgarh, Rewa district, near the Mukundpur White Tiger Safari (10 km away), which is the only existing white tiger tourism facility in Madhya Pradesh.

Historical Significance

• Rewa is known as the home of Mohan, the last wild white tiger, discovered in Govindgarh jungle in 1951 by Maharaja Martand Singh Judeo.
• The Maharaja initiated a breeding and conservation program, leading to the global spread of white tigers in captivity.

Government & Conservation Efforts

• The project is part of the revised master plan for the Maharaja Martand Singh Judeo White Tiger Safari and Zoo in Mukundpur.
• Deputy CM Rajendra Shukla emphasized the state’s commitment to biodiversity conservation.
• The initiative is expected to boost wildlife tourism and generate employment opportunities for locals.

About MP:

• Capital: Bhopal
• Governor: Mangubhai C. Patel
• Chief Minister: Mohan Yadav.

Union Budget 2025-26: ₹6.81 Lakh Crore Allocated for Defence Sector

• In line with Prime Minister Narendra Modi’s vision of ‘Viksit Bharat @ 2047’ and Aatmanirbhar Armed Forces, the Union Budget 2025-26 has allocated ₹6,81,210.27 crore to the Ministry of Defence (MoD).
• This is a 9.53% increase over the 2024-25 budget and constitutes 13.45% of the total Union Budget, the highest allocation among all ministries.

Key Budget Allocations for Defence

1. Capital Outlay for Defence Services

• ₹1,80,000 crore allocated (26.43% of the total defence budget).
• Capital Acquisition Budget: ₹1,48,722.80 crore for modernization of the Armed Forces.
• ₹31,277.20 crore allocated for R&D and infrastructure development.
• 75% of the modernization budget (₹1,11,544.83 crore) earmarked for procurement from domestic sources, strengthening self-reliance.
• ₹27,886.21 crore dedicated to private sector involvement in defence manufacturing.

Major Defence Acquisitions for 2025-26:

• Long-Endurance Remotely Piloted Aircraft (High & Medium Altitude).
• Deck-based Aircraft (for aircraft carriers).
• Next-generation submarines, warships, and platforms.
• Investment in AI, Machine Learning, Cyber, and Space technologies.

2. Revenue Expenditure: ₹3,11,732.30 crore

• ₹1,97,317.30 crore for salaries and allowances of Armed Forces personnel.
• ₹1,14,415.50 crore for non-salary expenses, including:
  • Procurement of fuel, rations, and ordnance stores.
  • Maintenance and repair of equipment.
  • Operational preparedness for border deployments.
• 10.24% increase from FY 2024-25.

3. Defence Pension: ₹1,60,795 crore

• Covers approximately 34 lakh defence pensioners.
• 13.87% increase over last year’s allocation.
• One Rank One Pension (OROP) revision implemented in July 2024.

4. Boost for Defence Research and Development (DRDO)

• ₹26,816.82 crore allocated (12.41% increase from last year).
• ₹14,923.82 crore dedicated to capital expenditure and R&D projects.
• Focus on Technology Development Fund to support private sector innovation.

5. Encouraging Start-ups in Defence

• ₹449.62 crore allocated to iDEX scheme and ADITI (Acing Development of Innovative Technologies with iDEX).
• Funding for defence start-ups and technological innovation.

6. Welfare of Ex-Servicemen

• ₹8,317 crore allocated for Ex-Servicemen Contributory Health Scheme (ECHS).
• 19.38% increase to improve healthcare facilities for veterans and their families.

7. Strengthening the Indian Coast Guard

• ₹9,676.70 crore allocated (26.50% increase).
• ₹5,000 crore (43% jump) in capital budget for procurement of:
  • Advanced Light Helicopters (ALH).
  • Dornier aircraft.
  • Fast Patrol Vessels (FPVs).
  • Training ships and interceptor boats.
• Revenue budget increased to ₹4,676.70 crore (12.64% rise).

8. Border Infrastructure Development

• ₹7,146.50 crore allocated to Border Roads Organisation (BRO) (9.74% increase).
• Key projects include:
  • LGG-Damteng-Yangtse Road (Arunachal Pradesh).
  • Asha-Cheema-Anita Road (J&K).
  • Birdhwal-Puggal-Bajju Road (Rajasthan).
• 70,000+ locals employed, boosting regional economies.

Gender Budget 2025-26: ₹4.49 Lakh Crore Allocated for Women’s Welfare

• Union Minister of Finance Nirmala Sitharaman presented the Union Budget 2025-26, highlighting a historic increase in Gender Budget allocation.
• The share of Gender Budget in the total Union Budget has risen to 8.86% in FY 2025-26, compared to 6.8% in FY 2024-25.

Key Highlights of the Gender Budget 2025-26

1.Significant Increase in Allocation

• ₹4.49 lakh crore allocated for women and girls' welfare.
• 37.25% increase from ₹3.27 lakh crore in FY 2024-25.

2.Expanded Coverage by Ministries & Departments

• 49 Ministries/Departments and 5 UTs have reported allocations, up from 38 Ministries/Departments in FY 2024-25.
• Highest-ever participation in the Gender Budget Statement (GBS).

New Ministries/Departments Reporting in GBS 2025-26:

1. Department of Animal Husbandry & Dairying
2. Department of Biotechnology
3. Department of Food & Public Distribution
4. Department of Financial Services
5. Department of Fisheries
6. Department of Land Resources
7. Department of Pharmaceuticals
8. Department of Water Resources, RD & GR
9. Ministry of Food Processing Industries
10. Ministry of Panchayati Raj
11. Ministry of Ports, Shipping & Waterways
12. Ministry of Railways

3.Gender Budget Statement (GBS) Breakdown

• Part A (100% women-specific schemes)
  • ₹1,05,535.40 crore (23.50% of total GBS allocation).
  • Reported by 17 Ministries/Departments and 5 UTs.
• Part B (30-99% allocation for women)
  • ₹3,26,672 crore (72.75% of total GBS allocation).
  • Reported by 37 Ministries/Departments and 4 UTs.
• Part C (below 30% allocation for women)
  • ₹16,821.28 crore (3.75% of total GBS allocation).
  • Reported by 22 Ministries/Departments.

4. Top 10 Ministries with Highest Gender Budget Allocation (Above 30%)

Ministry/Department	% of Allocation in Gender Budget
Ministry of Women & Child Development	81.79%
Department of Rural Development	65.76%
Department of Food & Public Distribution	50.92%
Department of Health & Family Welfare	41.10%
Ministry of New & Renewable Energy	40.89%
Department of Social Justice & Empowerment	39.01%
Department of Higher Education	33.94%
Department of School Education & Literacy	33.67%
Ministry of Home Affairs	33.47%
Department of Drinking Water & Sanitation	31.50%

CURRENT AFFAIRS: INTERNATIONAL NEWS

United Kingdom Business & Trade Secretary Jonathan Reynolds to visit India in February, 2025 to restart trade deal talks

• Jonathan Reynolds, United Kingdom (UK’s) Secretary of State for Business and Trade, to visit India in February 2025 to accelerate FTA negotiations.
• The announcement was made at India Global Forum's (IGF) 7th Annual UK-India Parliamentary Lunch at the House of Lords.
• UK Prime Minister Sir Keir Starmer had earlier declared the relaunch of FTA talks with Indian PM Narendra Modi at the G20 Summit in November 2024.

Key Highlights:

• The UK-India Free Trade Agreement is part of a broader Comprehensive Strategic Partnership and the Technology Security Initiative.
• UK-India Future Forum (UKIFF) launched the report ‘Sentiment to Success – Futureproofing UK-India Partnership’, highlighting key growth sectors.
• Essar Energy Transition (EET) sponsored discussions on UK-India defence collaboration, quantum tech, governance reforms, pharmaceuticals, and decarbonization.
• EET’s Managing Director, Ruth Herbert, announced the UK’s first large-scale Low Carbon Hydrogen Production Plant at Stanlow Refinery, aiming to cut 95% carbon emissions by 2030.

Recent News:

• In January 2025, the United Kingdom will be the first country to introduce laws against AI-generated sexualised images of children.

About United Kingdom:

• Capital: London
• Currency: Pound Sterling (GBP)
• Monarch: King Charles II
• Prime Minister: Keir Starmer

Burkina Faso, Mali, Niger Officially Leave West Africa's Economic Community of West African States (ECOWAS) Bloc

• The Economic Community of West African States (ECOWAS) has formally recognized the withdrawal of Niger, Mali, and Burkina Faso after prolonged tensions.
• The bloc urged its 12 remaining members to continue recognizing passports and trade agreements with the departing nations.
• ECOWAS President Omar Touray emphasized regional solidarity and invited the three nations to a technical meeting for discussions.
• The fallout began after Niger’s July 2023 coup, leading to ECOWAS threatening military intervention and demanding the reinstatement of Mohamed Bazoum.

Key Highlights:

• The three nations accused ECOWAS of failing to protect member states and aligning with foreign powers.
• They formed the Alliance of Sahel States (AES) and strengthened ties with Russia, Turkey, and Iran for security and strategic interests.
• ECOWAS granted a six-month grace period for reconsideration, but public rallies in Niger and Burkina Faso supported the exit.

About Economic Community of West African States :

• ECOWAS, founded in 1975, faces growing instability due to multiple military takeovers in the region.
• Headquarters : Abuja, Nigeria
• Chairman : Bola Ahmed Tinubu
• President of the Commission : Omar Touray

CURRENT AFFAIRS: STATE NEWS

Maharashtra to launch India’s first Artificial Intelligence university

• Maharashtra to establish India’s first Artificial Intelligence (AI) university, announced by IT Minister Ashish Shelar with an Aim to position Maharashtra as a hub for AI education, research, and innovation.
• A task force formed, including experts from academia, industry, and government.
• The university will serve as a centre of excellence for AI research, skill development, and policy formulation.
• Key stakeholders include IIT Mumbai, IIM Mumbai, Google India, Mahindra Group, L&T, and government bodies.
• Focus areas: AI applications in healthcare, agriculture, finance, manufacturing, and bridging the AI skill gap.
• Two meetings were held, discussing curriculum, industry partnerships, funding, and location.
• Initiative aligns with Maharashtra’s digital infrastructure and innovation
• Expected to boost India’s role in global AI advancements and support economic growth.

About Maharashtra:

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

Bhutan Prime Minister Dasho Tshering Tobgay to Lead Delegation at Bengal Global Business Summit 2025

• Bhutan's Prime Minister Dasho Tshering Tobgay to visit Kolkata for the Bengal Global Business Summit (BGBS) 2025.
• The summit, organized by the West Bengal government, will be held on February 5-6, 2025.

Key Highlights:

• BGBS 2025 focuses on strengthening trade ties between Bhutan and India.
• Bhutan will showcase its products and services and hold a country session.
• West Bengal CM Mamata Banerjee had announced Tobgay as a special guest in October 2024.
• The Confederation of Indian Industries (CII) and FICCI are organizing industry meetings at the event.
• 75 senior industry delegates from across India to participate in BGBS 2025.
• Key sectors include manufacturing, MSMEs, natural resources, tourism, IT, healthcare, and infrastructure.
• West Bengal has over 200 industrial parks, India’s largest leather complex, and major railway manufacturing units.
• Bengal Silicon Valley Hub spans 200 acres with 41 IT & ITeS companies, including 11 data centers.
• The FinTech Hub covers 69 acres with participation from major banks and financial institutions.
• The previous BGBS in 2023 saw over 400 international delegates from various regions.
• Past BGBS editions have attracted investment proposals worth over ₹3.76 lakh crore.

About West Bengal:

• Chief Minister: Mamata Banerjee
• Governor: C. V. Ananda Bose
• Capital: Kolkata
• National Parks: Sundarbans National Park, Jaldapara National Park, Buxa National Park, Gorumara National Park, Neora Valley National Park
• Wildlife Sanctuaries: Sajnekhali Wildlife Sanctuary, Bibhutibhushan Wildlife Sanctuary, Bethuadahari Wildlife Sanctuary, Ballavpur Wildlife Sanctuary, Haliday Island Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

Nestlé Explores Introduction of Starbucks RTD Coffee in India

• Nestlé S.A., the world's largest coffee company, is considering the launch of Starbucks-branded ready-to-drink (RTD) coffee products in India, marking a significant move in its global partnership with Starbucks Corporation.
• This partnership, which allows Nestlé to market Starbucks’ packaged coffee and beverages outside its cafes, has already expanded to several international markets.
• Now, India is poised to be the next potential market for these products.

Key Highlights of the Development

Nestlé's Plan for India

• Axel Touzet, head of Nestlé’s Coffee Strategic Business Unit, confirmed that Nestlé is exploring opportunities to expand its coffee portfolio in India.
• Touzet’s Statement: "We continue to evaluate similar opportunities to expand our coffee portfolio in India to target different coffee consumption moments as more and more people in India look to coffee."

Expansion of Starbucks-Nestlé Partnership

• 2018 Global Deal: Nestlé and Starbucks signed a deal that gave Nestlé rights to sell Starbucks’ packaged coffee and food service products worldwide.
• RTD Coffee Products: The partnership has led to the introduction of Starbucks Frappuccinos and Doubleshots in regions like Southeast Asia, Oceania, and Latin America. India may soon be added to this list.

Growing Coffee Market in India

• Despite India being traditionally a tea-drinking nation, coffee consumption, especially in urban areas, is on the rise.
• Nestlé’s Nescafé brand has already reached over 30 million households in India in recent years.
• Starbucks, through its Tata joint venture, operates over 470 stores in India, achieving revenue of Rs 1,218.06 crore in FY24, reflecting a 12% growth from the previous year.

India’s Emerging Coffee Market

• India is becoming an increasingly important market for Nestlé’s coffee business, contributing significantly to the company’s growth.
• Nespresso, a premium coffee range from Nestlé, has also been launched in India to cater to the growing demand for high-quality coffee.
• RTD Coffee Market: The global RTD tea and coffee market is expected to grow from $107.18 billion in 2023 to $197.4 billion by 2032, with India leading the Asia-Pacific region in this trend.

CURRENT AFFAIRS: AWARDS AND HONOURS

University of Sussex Confers Honorary Doctorate on Noel Tata

• The University of Sussex has awarded an honorary doctorate to Noel Tata, a prominent business leader within the Tata Group, in recognition of his contributions to global business leadership, ethical practices, and corporate social responsibility.
• A proud alumnus of Sussex University, Tata has played a pivotal role in the expansion of the Tata Group, particularly in retail, steel, and investment sectors.

Key Highlights of the Recognition

Honorary Doctorate Conferment

• Awarded by: University of Sussex.
• Venue: Mumbai, India.
• Presented by: Professor Sasha Roseneil, Vice-Chancellor and President, University of Sussex.

Noel Tata’s Educational Background

• Graduated in 1978 from the University of Sussex.
• Degree: Economics.

Professional Contributions and Leadership

• Over 40 years of leadership within the Tata Group.
• Instrumental in the growth of Trent, Tata’s fashion retail division.
• Expanded retail brands such as Westside, Star Bazaar, and Zudio.
• Key leadership roles within Tata Group:
  • Chairman: Trent, Voltas, Tata International, Tata Investment Corporation.
  • Vice Chairman: Tata Steel, Titan Company Limited.
  • 2024 Appointment: Chairman of Tata Trusts, the philanthropic arm of Tata Group.

Recent News

• In January 2025, In the latest Brand Finance Global 500 report for 2025, Tata Group has solidified its status as India’s most valuable brand, achieving a brand value of $31.6 billion—a 10% increase from the previous year.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Gopal Vittal Chief Executive Officer of Bharti Airtel Appointed as Acting Chair of GSMA Board

• Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, has been appointed as the acting chair of the GSMA board.
• He was previously serving as the Deputy Chair of the GSMA.
• The position became vacant after José Maria Álvares-Pallete, Chairman and CEO of Telefónica, resigned from the GSMA, making him ineligible to continue as Chair.
• The GSMAis a global non-profit telecom association representing over 1,100 companies from the telecom ecosystem worldwide.
• Its members include telecom service providers, device manufacturers, software companies, equipment providers, internet companies, and organizations from adjacent industries.
• This appointment highlights Airtel'sgrowing influence in the global telecom sector.

TVS Motor Company appoints Gaurav Gupta as President of India's two-wheeler business.

• TVS Motor Company (TVSM), a global automaker in the two and three-wheeler segment, has appointed Gaurav Guptaas President – India two-wheeler business.
• In this role, Gaurav will lead the India two-wheeler business, covering both internal combustion engine (ICE)and electric vehicle (EV)
• Gaurav brings over three decades of experience, having worked in multiple geographies, including India, China, Dubai, Indonesia, Vietnam, and ASEAN markets.
• Prior to joining TVSM, Gaurav served at JSW MG Motor India(formerly MG Motor India) as an Executive Committee member, Deputy Managing Director, and Chief Growth Officer.
• He played a key rolein establishing and leading the commercial operations for MG Motor India.
• Earlier, Gaurav was the Managing Director of Bridgestone Tire Indonesia, overseeing domestic and export operations.
• He also spent two decadesat General Motors, holding various leadership roles across Asia Pacific, including Managing Director positions in General Motors Indonesia and General Motors Vietnam.
• Additionally, Gaurav has served as Chair and board memberof the American Chamber of Commerce.
• His appointment underscores TVSM's focus on strengthening its leadership team to drive growth in the two-wheeler market, particularly in the EV segment.

Sun Pharma elevates son of promoter as Chief Operating Officer

• Aalok Shanghvi, son of founder Dilip Shanghvi, appointed as Chief Operating Officer (COO) in Sun Pharma.
• The move aims to strengthen Sun Pharma’s leadership and ensure stability.

Other Appointments:

• Dilip Shanghvi serves as Chairman and Managing Director.
• Vidhi Shanghvi heads the domestic consumer healthcare business.
• Abhay Gandhi is CEO of North America.
• Kirti Ganorkar is the India business head.
• Sun Pharma is India’s largest drug maker and the world’s 4th-largest generic company.

CURRENT AFFAIRS: ACQUISITION & MERGERS

TVS Holdings completes 80.74% stake acquisition of Home Credit for ₹554 crore

• TVS Holdings completes acquisition of 80.74% equity stake in Home Credit India for ₹554 crore.
• Remaining 19.26% acquired by Premji Invest and other associates of TVS Holdings.
• Acquisition funded through proceeds from the sale of real estate assets and borrowings from capital markets.
• Home Credit India, an NBFC, was established in 1997 in the Czech Republic and entered India in 2012.
• Serves 1.6 crore customers, with ₹5,535 crore AUM (March 31, 2024), operating in 625 cities with 50,000+ PoS.
• TVS Group’s lending book now stands at ₹33,000 crore, with a target of ₹50,000 crore in three years.
• TVS Credit’s net profit after tax for 9 months of FY24: ₹541 crore, up 28% YoY; AUM at ₹27,190 crore.
• Acquisition to drive synergies in collections, cost efficiency, digital capabilities, and cross-selling.

CURRENT AFFAIRS: ENVIRONMENT

International Big Cat Alliance (IBCA) Becomes a Full-Fledged Treaty-Based Organization

• International Big Cat Alliance (IBCA) Framework Agreement comes into force from January 23, 2025 as a treaty-based international organization.
• 5 countries ratified the agreement: India, Nicaragua, Eswatini, Somalia, and Liberia.
• 27 countries, including India, have consented to join IBCA, along with multiple international/national wildlife organizations.
• Launched by PM Narendra Modi on April 9, 2023, during the 50 Years of Project Tiger event.
• Headquarters in India, approved by the Union Cabinet on February 29, 2024.
• Focus on conservation of 7 big cats: Tiger, Lion, Leopard, Snow Leopard, Cheetah, Jaguar, and Puma.
• Established by the Government of India through NTCA (National Tiger Conservation Authority) under MoEFCC on March 12, 2024.
• Aims to promote collaboration, share best conservation practices, strengthen intergovernmental efforts, and secure ecological sustainability.

Recent News:

• In January 2025, Chronic Wasting Disease (CWD), also called "Zombie Deer Disease," is spreading among wildlife, including deer, moose, and elk.

About Ministry of Environment:

• Cabinet Minister: Bhupender Yadav
• Minister of State (MoS): Kirtivardhan Singh

CURRENT AFFAIRS: DEFENCE NEWS

Defence Research & Development Organisation Successfully Conducts Flight Trials of Very Short-Range Air Defence System

• The Defence Research & Development Organisation (DRDO)successfully conducted three consecutive flight-trials of the Very Short-Range Air Defence System (VSHORADS) from Chandipur, Odisha.
• The tests were conducted against high-speed, low-altitude targetsmimicking low-flying drones with reduced thermal signatures.
• In all tests, the missiles intercepted and destroyedthe targets with pin-point accuracy.
• The trials were carried out in final deployment configuration, with two field operatorshandling weapon readiness, target acquisition, and missile firing.
• Data from range instruments like Telemetry, Electro-Optical Tracking System, and Radarconfirmed the missile system's capability to neutralize drones and other aerial threats.

Key Highlights:

• VSHORADSis a Man Portable Air Defence System designed and developed indigenously by Research Center Imarat in collaboration with other DRDO labs and industry partners.
• It meets the operational needs of the Indian Army, Navy, and Air Force.
• Raksha Mantri Rajnath Singhand DRDO Chairman Dr. Samir V. Kamat congratulated the DRDO team, Armed Forces, and industry partners for the successful tests, calling it a significant achievement.
• The system is a critical addition to India's defence capabilities, particularly for countering low-altitude aerial threats.

Recent News:

• In January 2025, India’s defense and aerospace sectors were strengthened by the development of a Large Area Additive Manufacturing (LAAM) system at the DRDO-Industry-Academia Centre of Excellence (DIA-CoE) at IIT Hyderabad.

About DRDO:

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

About Ministry of Defence:

• Cabinet Minister: Rajnath Singh
• Minister of State (MoS): Ajay Bhatt

CURRENT AFFAIRS: PERSON IN NEWS

Indian-Origin Astronaut Sunita Williams Breaks Spacewalking Record

• Astronauts Sunita Williams and Butch Wilmore conducted a 5-hour and 26-minute spacewalk on the ISS.
• They removed degraded radio communications hardware and collected samples to check for microorganisms on the ISS exterior.
• Sunita Williams, an Indian-origin astronaut, broke the record for the longest total spacewalking time by a woman, with 62 hours and 6 minutes.
• She surpassed Peggy Whitson's previous record of 60 hours and 21 minutes.
• Williams and Wilmore have been stranded on the ISS since June 2024 due to technical issues with Boeing's Starliner spacecraft, including helium leaks and thruster malfunctions.
• NASA plans to bring them back to Earth in late March 2025 using SpaceX's spacecraft.
• This was Williams' 9th spacewalk and Wilmore's 5th.
• Williams previously made history in 2012 by completing a triathlon in space.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Ministry of Electronics & Information Technology and IIT Indore Launch AgriHub: AI-Driven Center for Agricultural Innovation

• In collaboration with IIT Indore, the Ministry of Electronics & Information Technology (MeitY) has launched AgriHub, an AI-driven Center of Excellence (CoE) to revolutionise Indian agriculture.
• The initiative will leverage Artificial Intelligence (AI), Machine Learning (ML), and Deep Learning (DL) to address key agricultural challenges such as drought, floods, and low productivity.

Key Highlights of AgriHub

• Chief Guest: Shri S. Krishnan, Secretary, MeitY
• Collaborating Institutions:
  • IIT Indore
  • MeitY
  • ICAR-IISR Indore
  • ICAR-CIAE Bhopal
  • C-DAC Pune
  • Madhya Pradesh Government

Objectives of AgriHub

• AI-Driven Innovation: Utilize AI, ML, and DL for addressing agricultural challenges like droughts, floods, and low crop productivity.
• Empowering Stakeholders: Provide farmers, researchers, and agribusinesses with cutting-edge agritech solutions.
• Cross-Sector Collaboration: Establish partnerships across farmers, NGOs, and agribusinesses to streamline research and technology deployment.
• Building a Self-Sustaining Ecosystem:
  • Job creation and startup incubation
  • Patents and research publications
  • Entrepreneurship workshops
  • Long-term agritech sustainability

CURRENT AFFAIRS: SPORTS NEWS

Travis Head Wins Maiden Allan Border Medal at 2025 Australian Cricket Awards

• The 2025 Australian Cricket Awards celebrated outstanding performances across all formats, with Travis Head emerging as the standout cricketer, securing his first-ever Allan Border Medal.
• His remarkable year, featuring 1,427 runs across formats, four centuries, and match-winning performances, reaffirmed his status as a key player in Australian cricket.

Key Highlights of the 2025 Australian Cricket Awards

Travis Head’s Dominant Year

• Total Runs: 1,427 across all formats.
• Notable Achievements:
  • Four centuries in Tests, ODIs, and T20Is.
  • Match-winning innings under pressure.

Allan Border Medal Winner

• Winner: Travis Head.
• Votes Secured: 208 votes.
• Runner-ups:
  • Josh Hazlewood (50 votes behind).
  • Pat Cummins (61 votes behind).

Men’s Award Winners

• ODI Player of the Year: Travis Head (beat Alex Carey, known for aggressive batting).
• Shane Warne Test Player of the Year: Josh Hazlewood (30 Test wickets, avg. 13.17, excelled in home conditions).
• T20I Player of the Year: Adam Zampa (key middle-over wickets with impactful leg-spin).

Women’s Award Winners

• Belinda Clark Award: Annabel Sutherland (all-round excellence across formats).
• Women’s Test Achievements:
  • Scored 210 vs. South Africa.
  • Hit a century in the Ashes Test vs. England.
• Women’s ODI Player of the Year: Ashleigh Gardner (385 runs, 23 wickets).
• Women’s T20I Player of the Year: Beth Mooney (618 runs, avg. 47.53, strike rate 129.83).

Recent News

• In January 2025, Former Australian cricket captain Michael Clarke was inducted into the prestigious Australian Cricket Hall of Fame, becoming the 64th cricketer to receive this remarkable honour.

CURRENT AFFAIRS: OBITUARY

Former chief election commissioner Navin Chawla passes away at 79

• Navin Chawla, former Chief Election Commissioner (CEC)of India, passed away at the age of 79.
• Chawla served as Election Commissioner (EC)from 2005 to 2009 and as CEC from April 2009 to July 2010.
• His tenure was controversial, with the BJP accusing him of partisan functioning.
• In 2009, then CEC  Gopalaswami recommended his removal, but the government did not act on it.
• In 2006, LK Advani and 204 MPs petitioned then President APJ Abdul Kalam to remove Chawla, citing alleged bias.

Key Highlights:

• Born on July 30, 1945, Chawla studied at The Lawrence School, Sanawar, and  Stephen's College, Delhi.
• Chawla was a former bureaucratand oversaw the 2009 Lok Sabha elections.
• He advocated for constitutional amendments to protect election commissioners and pushed for the inclusion of third-gender votersunder the 'others'
• He was also known as the biographer of Mother Teresa, having written the book 'Mother Teresa'(1992) and co-authored 'Faith and Compassion: The Life and Work of Mother Teresa' with photographer Raghu Rai (1997).

Daily CA One- Liner: February 5

• The Central Zoo Authority (CZA) has given final approval for India’s first white tiger breeding centre, to be established in Govindgarh, Rewa district, Madhya Pradesh.
• In line with Prime Minister Narendra Modi’s vision of ‘Viksit Bharat @ 2047’ and Aatmanirbhar Armed Forces, the Union Budget 2025-26 has allocated ₹6,81,210.27 crore to the Ministry of Defence (MoD).
• Union Minister of Finance Nirmala Sitharaman presented the Union Budget 2025-26, highlighting a historic increase in Gender Budget allocation.
• Nestlé S.A., the world's largest coffee company, is considering the launch of Starbucks-branded ready-to-drink (RTD) coffee products in India, marking a significant move in its global partnership with Starbucks Corporation.
• The University of Sussex has awarded an honorary doctorate to Noel Tata, a prominent business leader within the Tata Group, in recognition of his contributions to global business leadership, ethical practices, and corporate social responsibility.
• In collaboration with IIT Indore, the Ministry of Electronics & Information Technology (MeitY) has launched AgriHub, an AI-driven Center of Excellence (CoE) to revolutionise Indian agriculture.
• The 2025 Australian Cricket Awards celebrated outstanding performances across all formats, with Travis Head emerging as the standout cricketer, securing his first-ever Allan Border Medal.
• NPCI recommends increasing ATM cash transaction fee from ₹21 to ₹22 per transaction beyond the free limit and ATM interchange fee hike proposed: ₹17 to ₹19 for cash transactions and ₹6 to ₹7 for non-cash transactions.
• RBI announced that ₹2000 banknotes in circulation dropped from ₹3.56 lakh crore (May 19, 2023) to ₹6,577 crore (January 31, 2025)— 98.15% returned.
• The 1% Club, founded by Sharan Hegde, becomes India’s first finfluencer-led startup to secure a Registered Investment Adviser (RIA) license from Securities and Exchange Board of India (SEBI).
• Jonathan Reynolds, UK’s Secretary of State for Business and Trade, to visit India in February 2025 to accelerate FTA negotiations.
• The Economic Community of West African States (ECOWAS) has formally recognized the withdrawal of Niger, Mali, and Burkina Faso after prolonged tensions.
• Maharashtra to establish India’s first AI university, announced by IT Minister Ashish Shelar.
• Bhutan's Prime Minister Dasho Tshering Tobgay to visit Kolkata for the Bengal Global Business Summit (BGBS) 2025. The summit, organized by the West Bengal government, will be held on February 5-6, 2025.
• Gopal Vittal, Vice Chairman and Managing Director of Bharti Airtel, has been appointed as the acting chairof the GSMA board.
• TVS Motor Company (TVSM), a global automaker in the two and three-wheeler segment, has appointed Gaurav Guptaas President – India two-wheeler business.
• Aalok Shanghvi, son of founder Dilip Shanghvi, appointed as Chief Operating Officer (COO) in Sun Pharma.
• TVS Holdings completes acquisition of 80.74% equity stake in Home Credit India for ₹554 crore.
• International Big Cat Alliance (IBCA) Framework Agreement comes into force from January 23, 2025 as a treaty-based international organization Becomes a Full-Fledged Treaty-Based Organization
• The Defence Research & Development Organisation (DRDO)successfully conducted three consecutive flight-trials of the Very Short-Range Air Defence System (VSHORADS) from Chandipur, Odisha.
• Sunita Williams, an Indian-origin astronaut, broke the record for the longest total spacewalking time by a woman, with 62 hours and 6 minutes. She surpassed Peggy Whitson'sprevious record of 60 hours and 21 minutes.
• Navin Chawla, former Chief Election Commissioner (CEC)of India, passed away at the age of 79.