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CURRENT AFFAIRS: BANKING & FINANCE

Capital market regulator in India, Securities and Exchange Board of India (SEBI) Penalizes DB Realty (Valor Estate) and 7 Entities with Rs 25 Lakh Fine for Financial Misstatements

• Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs 25 lakh on 8 entities, including DB Realty (now Valor Estate) and its promoters, for violations related to financial misstatements and non-disclosures.
• The entities fined include:
• DB Realty Ltd (Valor Estate): Rs 5 lakh.
• Vinod Kumar Goenka (Promoter and Chairperson-MD): Rs 5 lakh.
• Shahid Balwa Usman (Promoter and MD): Rs 5 lakh.
• Asif Yusuf Balwa, Jayvardhan Vinod Goenka, Salim Balwa Usman, Sunita Goenka, Nabil Yusuf Patel: Rs 2 lakh each.
• DB Realty failed to comply with accounting standards in preparing financial statements related to a guarantee provided to Bank of India (BOI) for a loan taken by Pune Buildtech Pvt Ltd (PBPL).
• This led to violations of the listing agreement and disclosure rules.
• The Sebi investigation was triggered by a December 2020 complaint alleging misuse of a Rs 225 crore loan taken by PBPL in 2013, which was meant for specific purposes but allegedly used to clear dues of other group firms.

Recent News:

• In December 2024, SEBI clarified that digital platforms are not obligated to register as Specified Digital Platforms While SDP recognition simplifies compliance for regulated entities (REs), platforms can opt out of it.

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.

South Indian Bank Launches Two Specialized Startup Current Account Products to Support India's Startup Ecosystem

• South Indian Bank (SIB) has launched two specialized startup current account products to support the growing startup ecosystem in India: SIB Business Startup Current Account and SIB Corporate Startup Current Account.
• These products are designed to cater to different types of businesses, with features tailored to their specific financial needs.
• The SIB Business Startup Current Account is for sole proprietorships and partnerships, providing essential banking support during the early stages of a business.
• The SIB Corporate Startup Current Account is aimed at private limited companies, public limited companies, one-person companies, and limited liability partnerships, addressing the more complex financial requirements of larger business entities.

Key Features:

• Zero minimum balance requirement for up to three years.
• Unlimited free RTGS/NEFT transactions via digital channels.
• Premium debit card with exclusive benefits such as airport lounge access.
• To qualify, businesses must have an incorporation or registration date not older than three years.

About South Indian Bank:

• Founded Year: 1929
• Headquarters: Thrissur, Kerala, India
• MD & CEO: P.R. Seshadri
• Tagline : "Experience Next-Gen Banking"

Indian Bank and Indian Institute of Technology Madras Partner to Conduct Cybersecurity and Fintech Hackathon

• Indian Bank has announced a Cyber Security & FinTech hackathon in collaboration with the Indian Institute of Technology (IIT) Madras, set for April 2025.
• This event is part of a broader hackathon series organized by Public Sector Banks (PSBs) under the guidelines of the Department of Financial Services (DFS) and the Indian Banks’ Association (IBA).
• The series focuses on encouraging innovation by partnering with IITs, universities, and scientific institutions to address emerging challenges in financial technology and cybersecurity.

Key Highlights:

• A Memorandum of Understanding (MoU) was signed between Binaya Bhusan Dikshit, General Manager (Digital Business & FinTech Partnership) of Indian Bank, and Manu Santhanam, Dean (Industrial Consultancy & Sponsored Research) of IIT Madras.
• The upcoming hackathon will focus on key issues within the FinTech sector and advanced fraud detection mechanisms in cybersecurity.
• Indian Bank aims to engage young minds in addressing real-world challenges in financial security and contribute to advancements that safeguard India’s financial ecosystem.
• This partnership underscores Indian Bank’s commitment to fostering innovation in digital banking and aligns with the Government of India’s vision for a secure and resilient financial ecosystem.
• By leveraging both academic expertise and industry collaboration, the bank seeks to strengthen financial security and drive digital transformation in the banking sector.

Recent News:

• The Indian government appointed Ashok Chandra as MD & CEO of Punjab National Bank and Binod Kumar as MD & CEO of Indian Bank, effective January 2025, following the retirement of their predecessors.

About Indian Bank:

• Founded: 1907
• Headquarters: Chennai, Tamil Nadu, India
• Managing Director & CEO: Binod Kumar
• Tagline: "Your Own Bank"

HDFC Life Insurance Company Moves Ahead with Rs 900 Crore non-convertible debentures (NCD) Issuance to Strengthen Financial Position

• HDFC Life Insurance Company has approved the issuance of non-convertible debentures (NCDs) worth Rs 900 crore on a private placement basis.
• This decision was made during a Capital Raising Committee (CRC) meeting held on February 5, 2025.

What is a non-convertible debenture?

• Non-convertible debentures (NCDs) are debt instruments that are issued by companies to raise funds.
• They are a type of fixed-income instrument that cannot be converted into equity or stocks.

Key Points:

• Issuance Details: 90,000 NCDs with a face value of Rs 1,00,000
• Part of Larger Fundraising Plan: The issuance is part of a broader plan to raise Rs 2,000 crore, which was approved by the company's Board of Directors on July 15, 2024 and this marks the second series of the fundraising initiative.
• Bonds Listing: The bonds will be listed on the NSE Wholesale Debt Market (WDM)
• Redemption Option: The NCDs will have a ten-year term, with an early redemption option available after five years and every year thereafter.

Additional Features:

• Green Shoe Option: The company has the option to raise an additional Rs 100 crore, making the total possible issuance Rs 1,000 crore.
• Debt Nature: The NCDs are unsecured, rated, subordinated, and redeemable.
• Fixed Income: NCDs are non-convertible, meaning they cannot be converted into shares and offer a fixed income to investors.

About HDFC Life Insurance:

• Headquarters: Mumbai, Maharashtra, India
• CEO: Vibha Padalkar
• Founded Year: 2000

India's apex development bank, National Bank for Agriculture and Rural Development (NABARD) approves 127 Projects Worth ₹903 Crore in Himachal Pradesh.

• The Himachal Pradesh government has received approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth ₹903.21 crore for the 2024-25 financial year, as announced by Chief Minister Sukhvinder Singh Sukhu.

Key Highlights:

• The approved projects include:
  • 50 MLA-priority schemes under the Public Works Department, valued at ₹412.75 crore.
  • 23 MLA-priority schemes under the Jal Shakti Vibhag, worth ₹179.07 crore.
• Notable projects include:
  • A 1.5 LLPD capacity dairy processing plant in Kangra’s Dagwar.
  • Development of 96 electric bus charging stations.
• Sukhu emphasized that over the past two years, NABARD has sanctioned a total of ₹1,691 crore for 251 projects in Himachal Pradesh.
• Sukhu also announced the allocation of ₹1,087.77 crore under the Rural Infrastructure Development Fund (RIDF) for 2024-25, marking a 28% increase from the previous year.
• Over the next three years, the government plans to launch initiatives to strengthen the rural economy and generate employment for local youth.

About NABARD:

• Headquarters: Mumbai, Maharashtra, India
• Founded: 1982
• Chairman: Shaji K V
• Parent Ministry: Ministry of Finance, Government of India

CURRENT AFFAIRS: NATIONAL NEWS

Agricultural and Processed Food Products Export Development Authority (APEDA)’s financial assistance schemes boost 47% surge in fruit and vegetable exports

• The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Department of Commerce, has significantly contributed to India's fruit and vegetable export growth through its financial assistance schemes.
• Between 2019-20 and 2023-24, exports increased by 47.3% in volume and 41.5% in value, reaching 123 countries and adding 17 new markets in the last three years.

APEDA provides support in three broad areas:

A. Scheme for Infrastructure Development

• Financial aid for setting up packhouses with packing and grading lines.
• Facilities like pre-cooling units, cold storage, refrigerated transport, and reefer vans.
• Support for pre-shipment treatment (irradiation, vapor heat, hot water dip treatment).
• Common infrastructure support and banana handling cable system.

B. Scheme for Quality Development

• Financial assistance for laboratory testing equipment.
• Support for quality management system installation.
• Handheld devices for farm-level traceability and testing of water, soil, residues, and pesticides.

C. Scheme for Market Promotion

• Assistance for exporters’ participation in international trade fairs.
• Support for organizing Buyer-Seller Meets (BSMs).
• Development and upgradation of packaging standards for products.

Financial Assistance Guidelines:

• Available on APEDA's official website under the “Scheme” tab (apeda.gov.in).

Key Highlights:

• Export Promotion is facilitated under the Agriculture and Processed Foods Export Promotion Scheme for the 15th Finance Commission Cycle.
• The state-wise export data of fruits and vegetables is not available as it is not validated by DGCI&S (Directorate General of Commercial Intelligence and Statistics). However, major producing states include Uttar Pradesh, Madhya Pradesh, West Bengal, Maharashtra, Andhra Pradesh, Gujarat, Bihar, Tamil Nadu, Odisha, and Karnataka.
• In FY 2023-24, India exported fresh fruits and vegetables to 123 countries, expanding to 17 new markets over the last 3 years, including Brazil, Georgia, Uganda, Papua New Guinea, Czech Republic, and Ghana.
• Measures such as participating in international trade fairs, conducting buyer-seller meets, and actively pursuing market access negotiations have contributed to this growth.
• The Department of Commerce collaborates with MoA&FW (Ministry of Agriculture and Farmers Welfare) in prioritizing agricultural products for new market access.

About Ministry of Agriculture and Farmers Welfare:

• Cabinet Minister: Shivraj Singh Chouhan
• Minister of State (MoS): Ram Nath Thakur, Bhagirath Choudhary

India Leads the World in Domestic Flight Passenger Load Factor at 86.4% in 2024: International Air Transport Association Report

• India has emerged as the global leader in passenger load factor (PLF) for domestic flights, recording an impressive 86.4% in 2024, surpassing the US (84.1%) and China (83.2%), according to the latest International Air Transport Association (IATA) report.
• India’s booming aviation sector carried 16.3 crore domestic passengers in 2024, highlighting its rapid growth and efficiency.

Key Findings from the Report

• India’s Performance in Domestic Aviation
  • Passenger Load Factor (PLF) in 2024: 86.4% (highest globally).
  • Total domestic passengers carried: 16.3 crore (as per DGCA data).
  • Ranked ahead of the US (84.1%) and China (83.2%).
• Other Major Countries
  • Brazil: 81.9% (4th place).
  • Australia: 81.8% (5th place).
  • Japan: 78% (6th place).

Global Air Travel Trends in 2024

• Total air traffic growth (domestic & international): 10.4% increase over 2023.
• International traffic growth: 13.6% compared to 2023.
• Capacity increase (Available Seat Kilometers – ASK): 8.7% in 2024.
• Overall Load Factor: 83.5% (new global record).

India Launches First Ferret Research Facility in Haryana to Advance Biomedical Research

• India has inaugurated its first Ferret Research Facility at the Translational Health Science and Technology Institute (THSTI) in Faridabad, Haryana, marking a major milestone in the country’s biomedical research efforts.
• The facility aims to enhance research in infectious and non-communicable diseases, with a focus on vaccine and therapeutic development.
• Rajesh Gokhale, Director General of the Biotechnology Research and Innovation Council, led the inauguration, emphasizing the facility’s role in improving India’s preparedness for emerging diseases.

Key Aspects of the Ferret Research Facility and GARBH-INi-DRISHTI Database

Ferret Research Facility

• Purpose: The facility will focus on critical studies for vaccine and therapeutic development, especially for respiratory diseases like influenza and coronaviruses.
• Significance: Ferrets are an ideal model for respiratory disease research, placing India among a select group of nations with this capability.
• Global Impact: The research will enhance pandemic preparedness and contribute to the development of treatments for infectious diseases.

GARBH-INi-DRISHTI Data Repository

• The data repository contains over 12,000 clinical data sets from pregnant women, newborns, and postpartum mothers, making it one of South Asia's largest maternal and child health databases.
• Impact on Public Health: It will support advancements in healthcare strategies to improve maternal and child health, especially in rural and underserved areas.

Technology Transfer Agreement

• Partnership: The THSTI has entered into a collaboration with Sundyota Numandis Probioceuticals Private. Limited. for the commercialization of Lactobacillus crispatus, a microbial strain with potential health benefits for women.
• Focus on Women’s Health: The microbial consortium will be used in nutraceutical applications to improve women’s health, demonstrating India’s commitment to innovative, microbiome-based healthcare solutions.

Indian Army Renames Kolkata's Fort William to ‘Vijay Durg’ in Decolonization Push

• The Indian Army made a significant move towards decolonization by renaming Kolkata’s Fort William to ‘Vijay Durg’.
• This decision reflects India’s commitment to honoring its indigenous military history while removing colonial imprints.
• The new name is inspired by Vijaydurg Fort in Maharashtra, a stronghold under Chhatrapati Shivaji Maharaj, and aligns with the government’s push to eliminate colonial-era symbols.

Key Highlights and Significance

1. Historical Significance of Fort William:
   • Originally built in 1781 by the British, Fort William was named after King William III of England.
   • It served as a key British military base during colonial rule and became the Eastern Command headquarters post-independence.
2. Why ‘Vijay Durg’?:
   • Inspired by Vijaydurg Fort on Maharashtra’s Sindhudurg coast, which was a vital Maratha naval base.
   • The name symbolizes India’s indigenous military heritage, representing victory and resilience of the Indian armed forces.
3. Government’s Decolonization Drive:
   • This renaming is in line with Prime Minister Narendra Modi’s initiative to remove colonial names and traditions.
   • Other renaming efforts include Rajpath → Kartavya Path and the Andaman Islands landmarks.
   • A broader revamp of military traditions is underway to reflect Indian heritage.

Union Minister of Rural Development Shri Shivraj Singh Chouhan launches a "Watershed Yatra" Campaign to Promote Soil and Water Conservation under Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0).

• Union Minister Shri Shivraj Singh Chouhan launched the national-level mass outreach campaign “Watershed Yatra”, under the Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0).
• The campaign aims to enhance awareness and participation in watershed development, focusing on soil and water conservation, sustainable natural resource management, and boosting agricultural productivity, livelihoods, and environmental health across India.

Key Features of the Watershed Yatra Campaign

1. Launch and Participation:
   • The campaign was launched in hybrid mode, enabling nationwide participation.
   • Union Ministers of State Dr Chandra Sekhar Pemmasani and Shri Kamlesh Paswan joined the launch and addressed the gathering.
   • Over 800 Gram Panchayats and more than one lakh people participated in the event.
   • Officials from various States/UTs also joined in person, launching the Yatra in their respective regions.
2. Objectives of the Campaign:
   • Raise awareness about the importance of soil and water conservation and watershed management.
   • Promote community involvement in the successful implementation of WDC-PMKSY projects.
   • Encourage a community-driven approach to watershed management by involving local stakeholders.
3. Key Announcements by Shri Shivraj Singh Chouhan:
   • Importance of Watershed Management: Stressed the need for soil and water conservation for sustainable development.
   • Public Participation: Urged people to actively engage to ensure the success of WDC-PMKSY projects.
   • Watershed-Community Model: The campaign seeks to foster collaboration through the Public-Private-People Partnership (4Ps) model.
   • Watershed Janbhagidari Pratiyogita: A competition under WDC-PMKSY 2.0 to recognize outstanding watershed management efforts, with Rs. 70.80 crore allocated for awards.

CURRENT AFFAIRS: INTERNATIONAL NEWS

India and Saudi Arabia Discuss Strengthening Cooperation in Critical Minerals Sector

• India and Saudi Arabia discussed strengthening cooperation in the critical minerals sector, focusing on investment and technological collaboration.
• Indian Minister of Coal and Mines G. Kishan Reddy met Saudi Arabia's Minister of Industry and Mineral Resources Bandar Ibrahim Alkhorayef in New Delhi to explore joint ventures and advanced mining technologies.
• The Geological Survey of India Training Institute was designated a Centre of Excellence under the Future Minerals Forum to train geologists from Saudi Arabia, Africa, and Central Asia.
• Both ministers emphasized the need for secure mineral supply chains and cooperation in processing critical minerals for clean energy technologies.
• The meeting aligns with India’s National Critical Minerals Mission.
• India participated in the Future Minerals Forum 2025 in Riyadh, where Reddy reinforced India’s commitment to securing critical minerals and met representatives from Brazil, Italy, and Morocco to foster global partnerships.

About Saudi Arabia:

• Capital: Riyadh
• Currency: Saudi Riyal (SAR)
• Crown Prince & Prime Minister : Mohammed bin Salman

Singapore Enacts Maintenance of Racial Harmony Bill to Safeguard Against Foreign Interference and Preserve Racial Unity

• Singapore has passed the Maintenance of Racial Harmony Bill aimed at protecting against foreign interference in its race-based clans and business associations, ensuring the preservation of racial harmony in the multicultural city-state.
• Under the new law, race-based entities must disclose foreign and anonymous donations, foreign affiliations, and their leadership.
• The government can impose restraining orders against entities accepting donations from foreign principals, prohibit anonymous donations, or require donations to be returned or disposed of.
• The Home Affairs Minister can also issue restraining orders against individuals involved in content prejudicing racial harmony.
• Minister Shanmugam emphasized that the bill isn't a solution to all racial issues but represents Singapore's commitment to safeguarding racial harmony, even against external threats.
• Singapore's population is composed of 74% Chinese, 13.6% Malay, 9% Indian, and 3.3% others.

Recent News:

• In January 2025, Odisha and Singapore signed an MoU to establish a FinTech hub in Bhubaneswar focusing on InsureTech innovation.

About Singapore:

• Capital: Singapore
• Currency: Singapore Dollar (SGD)
• President: Tharman Shanmugaratnam
• Prime Minister: Lawrence Wong

South Korean Companies Ban Chinese Artificial Intelligence DeepSeek over Security Fears

• Leading South Korean companies and institutions are increasingly restricting the use of DeepSeek, a Chinese artificial intelligence model, amid concerns over its excessive data collection practices.

Key Highlights:

• Kakao, which recently announced a partnership with OpenAI, became the first major South Korean IT company to prohibit DeepSeek for internal operations.
• This decision stems from security concerns about DeepSeek’s collection of user device information, IP addresses, and keyboard input patterns, which are stored on servers in China.
• LG Uplus followed suit, issuing a security advisory banning DeepSeek on company networks and advising employees to avoid using it on personal computers until its security reliability is confirmed.
• The company also warned against inputting sensitive information for those still using the service.
• Korea Hydro & Nuclear Power, responsible for nuclear power technology, also prohibited DeepSeek’s use on February 1, extending restrictions previously imposed on ChatGPT due to nuclear security concerns.
• While Naver has begun discussions about banning DeepSeek internally, no official restrictions have been issued yet.
• Ha Jung-woo, head of Naver’s Future AI Center, has voiced concerns on social media regarding DeepSeek’s data collection practices.
• Companies like Samsung Electronics, SK, and LG Electronics already use their internally developed generative AI systems and prohibit unauthorized external programs.
• Governments worldwide are taking precautionary actions against DeepSeek. Countries such as Australia, Japan, Taiwan, and the S. state of Texas have banned the AI model on government devices, while Italy has blocked it entirely from app markets.
• The United Kingdom and the European Union are also monitoring its security implications.
• In response to rising concerns, South Korea’s Personal Information Protection Commission sent an official inquiry to DeepSeek’s headquarters in China on January 31, seeking clarification on its personal information collection, processing methods, and storage practices.

About South Korea:

• Capital: Seoul
• Currency: Korean Republic won (KRW)
• President: Yoon Suk-yeol
• Prime Minister: Han Duck-soo

GMR Airports Limited Strengthens Corporate Sustainability with United Nations Global Compact Membership

• GMR Airports Ltd (GAL) has joined the United Nations Global Compact (UNGC), further solidifying its commitment to corporate sustainability.
• GAL operates airports in Delhi, Hyderabad, Goa, and Medan (Indonesia), and is involved in the development of Bhogapuram (Visakhapatnam) and Crete (Greece) airports, while also providing technical services to Mactan Cebu International Airport (Philippines).
• All GMR-operated airports hold green building certifications from either the US Green Building Council (USGBC) or the Indian Green Building Council (IGBC).
• In FY24, GAL served over 121 million passengers, reflecting its expanding influence in the global aviation industry.

What is the United Nations Global Compact?

• The United Nations Global Compact is a UN-led initiative that encourages businesses to adopt sustainable and socially responsible policies.
• It's the world's largest corporate sustainability initiative.

After United States, Argentina pulls out of World Health Organization, cites ‘deep differences’

• Argentina has announced its decision to withdraw from the World Health Organization (WHO), following a similar move by the United States under President Donald Trump in January 2025.
• This decision was confirmed by presidential spokesperson Manuel Adorni, who stated that President Javier Milei instructed Foreign Minister Gerardo Werthein to end Argentina’s participation in the WHO.

Key Highlights:

• Milei, a libertarian and vocal Trump ally, cited “deep differences” with the WHO, particularly over its management of health issues such as the COVID-19 pandemic.
• He also criticized the organization’s perceived lack of independence from political influence.
• Adorni pointed to Argentina’s extended lockdown under the previous government as a key factor for the decision.
• Milei’s decision mirrors Trump's criticism of the WHO's handling of the pandemic and other global health challenges, along with the organization’s financial demands on the United States, its largest contributor.
• Milei, often described as an “anarcho-capitalist,” accused the WHO of executing “the largest social-control experiment in history.”
• However, some healthcare organizations in Argentina, such as NGO Soberanía Sanitaria, warned that withdrawing from the WHO could affect the country’s access to critical medical supplies and technologies.
• Although Milei announced Argentina’s exit, critics argue that the decision is not legally binding without congressional approval, as the relationship with the WHO is part of a law that requires legislative action for withdrawal.
• Juan Gabriel Tokatlian, a professor of international relations, highlighted that for withdrawal to happen, a new law must be passed in Argentina.
• Milei’s exit from the WHO is seen as an attempt to align more closely with Trump’s policies.
• Since taking office, he has also considered withdrawing from the Paris Agreement and proposed building a border fence with Bolivia.
• However, critics worry that Milei’s foreign policy may not serve Argentina’s best interests.
• Some observers pointed out that Argentina is vulnerable economically and that aligning with Trump’s unpredictable foreign policies may not provide lasting solutions.
• Argentina’s contribution to the WHO is relatively small, about $8 million annually, so its exit is unlikely to significantly impact the organization’s financial position.
• However, if other countries with similar political views follow Argentina’s lead, the WHO’s credibility and financial stability could be at risk.
• The United States, as the largest contributor to the WHO, already presents a significant challenge to the organization’s future viability after its own withdrawal.

Recent News:

• WHO verifies Niger as the first country in the African Region to eliminate onchocerciasis in January 2025.

About the World Health Organization (WHO):

• Headquarters: Geneva, Switzerland
• Founded: April 7, 1948
• Director-General: Dr. Tedros Adhanom Ghebreyesus
• Membership: 194 member states

About Argentina:

• Capital: Buenos Aires
• Currency: Argentine Peso (ARS)
• President: Javier Milei
• Vice President: Victoria Eugenia Villarruel

CURRENT AFFAIRS: STATE NEWS

Telangana Cabinet approved the Socio, Caste, Economic, Education, Employment and Political Survey report

• Telangana's caste survey data was released on February 3 and presented in the state assembly on February 4.
• Non-Muslim OBCs make up 46.25% and Muslim OBCs 10.08% of Telangana's population.
• Scheduled Castes constitute 17.43%, and Scheduled Tribes 10.45%.
• The survey revealed that 2.48% of Muslims don't claim OBC status.
• Muslim OBCs face poverty levels reflecting their caste status; Telangana Muslims have 4% reservation.
• The tribal population in Telangana increased to 10.45%, driven by the Lambada and forest tribes.
• Rahul Gandhi supports a national caste census for welfare politics.
• OBCs demand a caste census to challenge the 27% reservation cap and push for increased quotas.
• Telangana's OBC reservation could be pushed beyond 27%.

Recent News:

• In January 2025, Telangana Chief Minister Revanth Reddyunveiled Rythu Bharosa, Indiramma Aathmeeya Bharosa, Indiramma Indlu welfare initiatives aimed at supporting farmers, landless agricultural laborers, and marginalized communities.

About Telangana:

• Capital: Hyderabad
• Governor: Jishnu Dev Varma
• Chief Minister: Anumula Revanth Reddy
• National Parks: Kasu Brahmananda Reddy National Park, Mrugavani National Park, Mahavir Harina Vanasthali National Park
• Wildlife Sanctuaries: Kawal Wildlife Sanctuary, Pocharam Wildlife Sanctuary, Manjira Wildlife Sanctuary

Rajasthan Cabinet approves textile and apparel policy, data centre policy and logistics policy

• The Rajasthan Cabinet chaired by Chief Minister Bhajanlal Sharma took several important decisions, including a new textile and apparel policy, data center policy, and logistics policy to promote industrial and economic development in the state.
• The Rajasthan Textile and Apparel Policy-2025 aims to establish the state as a global manufacturing hub, fostering employment generation, skill development, innovation, productivity, and

Key Highlights:

• This policy is expected to attract an investment of around ₹40,000 crore, enhancing the efficiency and reliability of local textile producers on a global level.
• The Rajasthan Data Center Policy-2025 has been approved to encourage private sector investment in data centers.
• It aims to develop a world-class data center ecosystem, improving efficiency, security, and
• The policy offers several incentives, including asset creation benefits, sunrise incentives, interest subsidies, exemptions in banking, transmission, and wheeling charges, flexible land payment options, and waivers on stamp duty, land conversion fees, and external development charges.
• The state anticipates an investment of ₹20,000 crore over the next five years due to this policy.
• To promote industrial development and reduce logistics costs, the cabinet approved the Rajasthan Logistics Policy-2025, which will attract private investment and enhance
• The policy provides various incentives, including capital and interest subsidies for warehouses, cold storage, inland container depots, container freight stations, air freight stations, cargo terminals, trucker parks, private multimodal logistics parks, and integrated logistics park developers.
• A maximum of 10 acres or 10% of allocable land in upcoming RIICO industrial areas will be reserved for logistics facilities.
• The Rajasthan Youth Policy-2025 was approved to ensure youth access to quality education, skills, health, employment, entrepreneurship, and fundamental rights, replacing the Youth Policy-2013.
• It encourages youth participation in social, economic, political, and cultural fields and supports emerging talents in art, sports, culture, and

About Rajasthan:

• Capital: Jaipur
• Governor: Haribhau Bagade
• Chief Minister: Bajan Lal Sharma
• National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
• Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary

CURRENT AFFAIRS: BUSINESS NEWS

Indian Gold Investments Jump 60% In 2024 To Rs 1.5 Lakh Crore: World Gold Council

• India's gold investments saw a 60% surge in 2024, reaching ₹1.5 lakh crore ($18 billion), according to the World Gold Council (WGC).
• The gold investment demand reached 239 tonnes, marking a 29% increase from 185 tonnes in 2023.
• This remarkable growth was driven by factors such as rising gold prices, reduced import duties, and an increased demand during festive seasons.
• India now accounts for 20% of global gold investment demand, a significant contribution to the global market.

Key Factors Behind the Surge

1. Rising Gold Prices: The steady increase in gold prices throughout 2024 made it an attractive investment option for many.
2. Import Duty Reduction (July 2024): The reduction in import duties sparked renewed buying interest, especially as prices experienced an initial dip before rising again.
3. Festive Season Demand: The Dhanteras and Diwali festivals in October and November led to high gold purchases, particularly in the form of jewelry.
4. E-commerce Boom: The growing popularity of online shopping and rapid delivery of gold bars and coins in 10-15 minutes led to a significant rise in sales.
5. Weaker Stock Market Performance: A decline in stock markets made gold a safer alternative investment, contributing to its appeal.
6. Geopolitical Uncertainty & Interest Rate Expectations: Global economic conditions, including geopolitical tensions and expectations around interest rates, further boosted gold's status as a secure asset.

Global Gold Investment Trends

• Global Demand: Global gold investment demand grew by 25% in 2024, reaching 1,180 tonnes, up from 945.5 tonnes in 2023.
• India’s Share: India accounted for 20% of the global demand, reflecting its growing role in the gold market.

Quarterly Performance and Outlook

• Q4 Performance: In the October-December 2024 quarter, gold investment demand reached 76 tonnes, nearly matching the levels of Q3.
• Global Gold ETFs: After hitting a four-year low in April 2024, global gold ETF holdings showed a gradual recovery.
• Future Expectations: Investment in gold exchange-traded funds (ETFs) and mutual funds is expected to continue expanding, driven by economic uncertainty and fluctuating stock markets.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Indian Army & IIT Guwahati Collaborate on Bamboo-Based Composite Bunkers

• The Indian Army, in collaboration with IIT Guwahati, has initiated the development of bamboo-based composite bunkers as a sustainable alternative to conventional military structures.
• This project is designed to enhance sustainability, reduce weight, and improve deployability in high-altitude regions like Arunachal Pradesh.
• The initiative aligns with the Army’s ‘Decade of Transformation’ vision, emphasizing the integration of advanced materials into defense infrastructure.

Key Aspects of the Collaboration

• Objective: Develop epoxy bamboo-based composite bunkers to replace traditional concrete and steel structures in extreme terrains.
• Agreement Date & Signatories: Signed on January 4, 2025, between the Army’s 4 Corps (Tezpur, Assam) and IIT Guwahati.
• The agreement was formalized by Maj. Gen. Rohin Bawa (GOC, Red Horns Division) and Prof. Devendra Jalihal (Director, IIT Guwahati).
• Geographical Focus: The project is specifically targeted at high-altitude locations in Arunachal Pradesh along the Eastern Himalayas.

Indian Institute of Corporate Affairs and Carbon Market Association of India Sign Memorandum of Understanding in New Delhi to Strengthen India’s Carbon Markets and Decarbonisation Efforts

• In a significant move to bolster India’s carbon markets and decarbonisation efforts, the Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a Memorandum of Understanding (MoU) in New Delhi.
• This agreement was revealed during the inaugural session of the IICA-CMAI Masterclass on Global & Indian Carbon Markets, with Shri Nitin Gadkari, Minister for Road, Transport & Highways, emphasizing the vital role of biofuels, green hydrogen, and sustainable energy solutions for India’s economic and environmental future.

Key Highlights of the MoU and Collaboration Areas

1. Strategic Significance
   • Strengthens India’s carbon market ecosystem through capacity-building initiatives.
   • Supports climate mitigation strategies and net-zero
   • Develops a pool of corporations with expertise in carbon offset mechanisms.
2. Areas of Collaboration
   • Training Programmes: Focused on carbon markets, sustainable finance, and low-carbon industrial solutions.
   • Joint Research: Studies on decarbonisation strategies and carbon trading mechanisms.
   • Workshops & Conferences: Promoting dialogue between industry stakeholders, policymakers, and researchers.
   • Policy Advocacy: Supporting regulatory frameworks and policies to drive India’s net-zero goals.

About the Organizations

• Indian Institute of Corporate Affairs (IICA): An autonomous institution under the Ministry of Corporate Affairs, specializing in Environmental-Social-Governance (ESG), CSR, Sustainable Finance, Business & Biodiversity Conservation, and more.
• Carbon Market Association of India (CMAI): An industry group focused on decarbonisation and net-zero transition, working closely with MoEFCC, MoP, MNRE, and NITI Aayog on policy advocacy.

CURRENT AFFAIRS: RANKING AND INDEX

Indian quick-commerce startup, Zepto Becomes the Second Most Downloaded App Globally in Foods and Drinks Category in 2024, Says Sensor Tower

• Zepto, the Indian quick-commerce startup, achieved remarkable success in 2024, becoming the second most downloaded app globally in the foods and drinks category, according to Sensor Tower
• McDonald’s secured the top position in this category.

Global Ranking in Food & Drink Apps

Rank	App
1	McDonald's
2	Zepto
3	KFC
4	Domino's Pizza
5	Zomato
6	Burger King
7	Grab
8	Uber Eats
9	Swiggy
10	Blinkit

Key Drivers of Zepto’s Growth

1. Growth Surge: Zepto saw a 300% growth in the second half of 2024, marking its dominance in India’s quick-commerce sector.
2. New Features: Introduced a 'buy now and pay later' option, bolstering its competitive edge in the market.
3. User Base: Zepto’s average monthly users overtook Blinkit for the first time in the last quarter of 2024.

India’s Surge in Food & Drink App Downloads

• 353 million downloads in India in 2024, growing by 43% from the previous year.
• Indian apps accounted for 16% of the global downloads in this category.
• A staggering 43,200 million sessions were recorded in India, contributing to 15% of global sessions.

India’s Dominance Across Other Categories in 2024

• Cryptocurrency: India ranked 8th globally, with a 26% growth in cryptocurrency sessions in 2024.
• Retail: Meesho (3rd) and Flipkart (6th) were top contenders globally in the retail
• Video Streaming: Jio Cinema (2nd) emerged as a key player in the video streaming
• Financial Services: PhonePe retained 1st place, with Paytm and Bajaj Finserv also in the top 10.
• Sports: Dream 11 topped the sports app

About Zepto

• Founded: July 2021
• Headquarters: Bengaluru, India
• CEO : Aadit Palicha

CURRENT AFFAIRS: SPORTS NEWS

Former India wicketkeeper-batter, Wriddhiman Saha Announces Retirement from All Formats of Cricket

• Former India wicketkeeper-batter Wriddhiman Saha has officially announced his retirement from all formats of cricket.
• At the age of 40, Saha, renowned for his exceptional wicketkeeping skills and resilience, played his final match for Bengal against Punjab in the Ranji Trophy Elite 2024-25 Group C encounter.
• He had previously retired from international cricket in November 2024, and in his retirement announcement, expressed deep gratitude to his family, coaches, and cricketing associations for their unwavering support throughout his career.

Key Highlights of Wriddhiman Saha’s Career

1. Retirement Announcement:
   • Saha confirmed his retirement on February 3, 2025.
   • His final match was for Bengal against Punjab in the Ranji Trophy 2024-25 season.
   • Saha was given a guard of honor by the Bengal team during his final innings.
2. Domestic and International Career:
   • First-class debut: 2007.
   • Played 142 first-class matches, scoring 7,169 runs at an average of 41.43, with 14 centuries and 44 fifties.
   • Represented India in 40 Test matches, scoring 1,353 runs, including three centuries and six half-centuries.
   • Played five ODIs for India.
   • Became known for his remarkable wicketkeeping after replacing MS Dhoni in Test cricket post-Dhoni's retirement in 2014.
3. Memorable Achievements:
   • Became the first Indian to score a century in an IPL final (2014, for Kings XI Punjab).
   • A key part of India’s Test squad, especially for overseas tours.
   • Played a significant role in Bengal’s domestic cricket success.
   • Contributed to several IPL teams including Kings XI Punjab, Sunrisers Hyderabad, and Gujarat Titans.

RECENT NEWS

• In Jan 2025, New Zealand’s prolific opener, Martin Guptill, has officially retired from international cricket, concluding a distinguished 14-year career that began in 2009
• Ravichandran Ashwin, one of India’s premier spinners, has announced his retirement from international cricket at the end of the third Border-Gavaskar Trophy Test in Brisbane on December 18, 2024.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Ola founder Bhavish Aggarwal Announces ₹2,000 Crore Investment in Krutrim, Plans ₹10,000 Crore Commitment by Next Year

• Ola founder Bhavish Aggarwal announced a ₹2,000 crore investment in Krutrim, with a commitment of ₹10,000 crore by next year.
• The firm has raised nearly $280 million, including $50 million from Matrix Partners India in early 2024.
• Open-Source Initiative: Krutrim has released its AI models to the open-source community, publishing multiple technical reports. This follows DeepSeek’s recent decision to open-source its own Generative AI (GenAI) model.
• AI Lab & Supercomputer: The KritrimAI lab was launched, and Krutrim has deployed India’s first GB200 system with Nvidia, set to be operational by March and expanded into India’s largest supercomputer by year-end.
• Large Language Models (LLMs): Krutrim introduced Krutrim 2, a 12-billion parameter dense transformer model supporting English and 22 Indian languages. It improves upon Krutrim 1, which was India’s first LLM (7B model) launched on January 24.
• Other AI Models:
  • Chitrarth 1 – A vision-language model for image and document interpretation.
  • Dhwani 1 – A speech-language model for speech translation.
  • Vyakhyarth 1 – An art Indic embedding model for search and retrieval-augmented generation (RAG).
• BharatBench Benchmark: Krutrim developed BharatBench, a benchmark for Indian LLM performance, arguing that existing global standards fail to capture India's linguistic and cultural nuances.

About Ola:

• Founded: 2010
• CEO: Bhavish Aggarwal
• Headquarters: Bengaluru, Karnataka

CURRENT AFFAIRS: OBITUARY

Aga Khan, philanthropist and spiritual leader of Ismaili Muslims, Passed away

• Prince Karim Al-Hussaini, known as Aga Khan IV, the spiritual leader of millions of Ismaili Muslims and one of the world’s most prominent philanthropists, passed away in Lisbon, Portugal, at the age of 88.
• Aga Khan IV became the spiritual leader of Ismaili Muslims at just 20 years old, while still an undergraduate at Harvard University.

Key Highlights:

• He inherited a material empire built on billions of dollars in tithes and directed these resources to establish homes, hospitals, and schools in developing countries.
• He was the 49th hereditary imam of the Shia Ismaili Muslims and considered by his followers to be a direct descendant of the Prophet Muhammad.
• Aga Khan Development Network (AKDN), his main philanthropic organization, focused on healthcare, housing, education, and rural economic development.
• His network of hospitals, bearing his name, extended across regions with limited healthcare, notably in Bangladesh, Tajikistan, and Afghanistan, addressing the needs of the poorest communities.
• Aga Khan IV was named as successor to his grandfather as the spiritual leader of the Ismaili community, bypassing his father.
• His grandfather, Aga Khan I, had been a prominent figure in Iran and later in India, where he became the first Nizari imam to hold the title Aga Khan.

Veteran British actor Brian Murphy, Passes Away

• Veteran British actor Brian Murphy, known for his roles in Man About the House and George and Mildred, has passed away at 92.
• He was born on September 25, 1932, on the Isle of Wight.
• Best known for 70s sitcoms Man About the House (1973-76) and George and Mildred, he also appeared in The Avengers, Callan, Z-Cars, and Dixon of Dock Green.
• He played George Roper, a landlord, in Man About the House, which inspired the American show Three’s Company (1977-84).
• Its spinoff, George and Mildred, lasted five seasons.

Daily CA One- Liner: February 6

• The Agricultural and Processed Food Products Export Development Authority (APEDA), under the Department of Commerce, has significantly contributed to India's fruit and vegetable export growth through its financial assistance schemes
• India has emerged as the global leader in passenger load factor (PLF) for domestic flights, recording an impressive 86.4% in 2024, surpassing the US (84.1%) and China (83.2%), according to the latest International Air Transport Association (IATA) report
• India has inaugurated its first Ferret Research Facility at the Translational Health Science and Technology Institute (THSTI) in Faridabad, Haryana, marking a major milestone in the country’s biomedical research efforts.
• The Indian Army made a significant move towards decolonization by renaming Kolkata’s Fort William to ‘Vijay Durg’.
• Union Minister Shri Shivraj Singh Chouhan launched the national-level mass outreach campaign “Watershed Yatra”, under the Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0).
• India's gold investments saw a 60% surge in 2024, reaching ₹1.5 lakh crore ($18 billion), according to the World Gold Council (WGC).
• The Indian Army, in collaboration with IIT Guwahati, has initiated the development of bamboo-based composite bunkers as a sustainable alternative to conventional military structures
• In a significant move to bolster India’s carbon markets and decarbonisation efforts, the Indian Institute of Corporate Affairs (IICA) and the Carbon Market Association of India (CMAI) have signed a Memorandum of Understanding (MoU) in New Delhi
• Zepto, the Indian quick-commerce startup, achieved remarkable success in 2024, becoming the second most downloaded app globally in the foods and drinks category, according to Sensor Tower
• Former India wicketkeeper-batter Wriddhiman Saha has officially announced his retirement from all formats of cricket.
• The Securities and Exchange Board of India (SEBI) has imposed a total fine of Rs 25 lakh on eight entities, including DB Realty (now Valor Estate) and its promoters, for violations related to financial misstatements and non-disclosures.
• South Indian Bank (SIB) has launched two specialized startup current account products to support the growing startup ecosystem in India: SIB Business Startup Current Account and SIB Corporate Startup Current Account.
• Indian Bank has announced a Cyber Security & FinTech hackathon in collaboration with the Indian Institute of Technology (IIT) Madras, set for April 2025.
• HDFC Life Insurance Company has approved the issuance of non-convertible debentures (NCDs) worth Rs 900 crore on a private placement basis.
• The Himachal Pradesh government has received approval from the National Bank for Agriculture and Rural Development (NABARD) for 127 projects worth ₹903.21 crore for the 2024-25 financial year, as announced by Chief Minister Sukhvinder Singh Sukhu.
• India and Saudi Arabia discussed strengthening cooperation in the critical minerals sector, focusing on investment and technological collaboration.
• Singapore has passed the Maintenance of Racial Harmony Bill aimed at protecting against foreign interference in its race-based clans and business associations, ensuring the preservation of racial harmony in the multicultural city-state.
• Leading South Korean companies and institutions are increasingly restricting the use of DeepSeek, a Chinese artificial intelligence model, amid concerns over its excessive data collection practices.
• GMR Airports Ltd (GAL) has joined the United Nations Global Compact (UNGC), further solidifying its commitment to corporate sustainability.
• Argentina has announced its decision to withdraw from the World Health Organization (WHO), following a similar move by the United States under President Donald Trump in January 2025.
• Telangana's caste survey data was released on February 3 and presented in the state assembly on February 4.
• The Rajasthan Cabinet chaired by Chief Minister Bhajanlal Sharma took several important decisions, including a new textile and apparel policy, data center policy, and logistics policy to promote industrial and economic development in the state.
• Bhavish Aggarwal announced a ₹2,000 crore investment in Krutrim, with a commitment of ₹10,000 crore by next year.
• Prince Karim Al-Hussaini, known as Aga Khan IV, the spiritual leader of millions of Ismaili Muslims and one of the world’s most prominent philanthropists, passed away on Tuesday in Lisbon, Portugal, at the age of 88.
• Veteran British actor Brian Murphy, known for his roles in Man About the House and George and Mildred, has passed away at 92.