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CURRENT AFFAIRS: BANKING & FINANCE

Ashoka University & Axis Bank Signs Memorandum of Understanding to Strengthen Interdisciplinary Research with INR 104 Crore Investment

• Ashoka University has partnered with Axis Bank to strengthen its PhD, Post-Doctoral, and Research

Key Highlights:

• The agreement signed is titled "Co-building Interdisciplinary Sciences and Research at Ashoka University."
• The collaboration aims to develop advanced science laboratories for Neurosciences, Behavioural Studies, and Physics Research.
• Axis Bank will contribute INR 104 Crore through a CSR grant over the next four years.
• The funding will enhance research infrastructure, provide competitive fellowships, and support research grants.
• Scholars will benefit from financial support, allowing them to focus entirely on
• The initiative will help attract and retain top research talent within
• Ashoka University aims to align its research and education standards with global benchmarks.
• Vice Chancellor Somak Raychaudhury emphasized that the partnership will set a new standard for research excellence in

About Axis Bank:

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

Securities and Exchange Board of India seeks more control over WhatsApp, Telegram to keep unauthorised financial advice in check, wants access to call records

• Securities and Exchange Board of India (SEBI) has approached the government seeking more powers to act against unauthorised financial advisors on social media platforms like WhatsApp and Telegram.

Key Highlights:

• The regulator seeks the authority to take down messages, links, and groups violating securities regulations.
• SEBI also wants access to call and message data records for investigations into market violations such as front running and insider trading.
• This is SEBI’s second request, with the first made in 2022, still pending approval.
• Social media companies, including Meta and WhatsApp, have denied SEBI access, citing current IT laws that do not classify SEBI as an ‘authorised agency.’
• Other law enforcement agencies, such as the Income Tax Department, Department of Revenue Intelligence, and Enforcement Directorate, currently have such powers.
• WhatsApp groups and Telegram channels have become hubs for financial influencers who offer stock trading tips for money.
• The government is reviewing SEBI’s request, but officials indicate that granting such powers would require a broader policy decision for all

Recent News:

• In February 2025, SEBI launched MITRA to help investors track and reclaim inactive or unclaimed mutual fund folios.

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.

Indian Banks' margins to fall by 10 basis points in FY 26 due to rate cuts: Fitch Ratings

• Indian banks' net interest margins (NIMs) will likely decline by 10 basis points on average in 2025-26 due to the Reserve Bank of India's interest rate cuts, but the drop will be cushioned by the central bank easing liquidity conditions, Fitch Ratings stated.

Key Highlights:

• Liquidity easing by RBI will help cushion the impact of lower NIMs.
• Repo-linked loans such as housing and small business loans will be immediately affected by the rate cut.
• SBI’s NIM fell by 19 bps to 3.13%, while HDFC Bank’s NIM remained flat at 3.43% but was 7 bps lower than Q2.
• Non-bank financial institutions (NBFCs) will also face NIM pressure, especially in urban housing and commercial loans where they compete with banks.
• 40% of all loans are linked to the repo rate, and seven banks, including PNB, BoB, and Union Bank, have already lowered their repo-linked loan rates.
• Banks’ NIMs averaged 3.5% from April to September 2024, down from 3.6% in FY24, partly due to higher deposit costs.
• Fitch Ratings predicts NIMs will trend toward 3% amid slower loan growth and lower yields.
• System liquidity peaked at ₹3 trillion in January 2025, remaining above ₹2 trillion in February.
• Delays in higher deposit run-off rates and expected credit losses may offer short-term relief until post-FY26.

What Is Net Interest Margin?

• Net interest margin (NIM) is the net interest income a lender earns from credit products like loans and mortgages, minus the interest it pays to holders of savings accounts and certificates of deposit (CDs).
• Expressed as a percentage, the NIM shows how likely a bank or investment firm is to thrive over the long haul.

About Fitch Ratings:

• Founded: 1913 by John Knowles Fitch
• Headquarters: New York, USA & London, UK (Dual HQ)
• Subsidiary of: Hearst Communications (100% ownership)
• CEO: Paul Taylor
• President: Ian Linnell

India's Reserve Bank of India imposes business curbs at New India Co-operative Bank on supervisory concerns

• Reserve Bank of India (RBI) Bars New India Co-operative Bank from issuing new loans and suspends deposit withdrawals for six months due to supervisory concerns and liquidity issues.
• The bank cannot make investments or borrow funds as per RBI’s directive.
• Losses in the last two fiscal years:
  • ₹227.8 million loss in FY24
  • ₹307.5 million loss in FY23
• Bank’s financial position:
  • Advances fell from ₹13.30 billion (FY23) to ₹11.75 billion (FY24).
  • Deposits rose from ₹24.06 billion (FY23) to ₹24.36 billion (FY24).
• RBI clarified that the bank’s license is not cancelled and it will monitor the situation for further action.
• Past precedent: In 2019, RBI took similar action against Punjab and Maharashtra Co-operative Bank (PMC Bank) due to financial irregularities, eventually allowing Centrum Financial Services to take over the lender.

Recent News:

• In February 2025, The Reserve Bank of India (RBI) is injecting ₹2.5 lakh crore into the banking system through Variable Rate Repo (VRR) auctions to tackle liquidity shortages.

About RBI :

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

Securities and Exchange Board of India proposes rules to beef up ESG Rating Providers (ERPs) framework; aims to enhance transparency

• The Securities and Exchange Board of India (SEBI) has proposed new measures to strengthen the regulatory framework for ESG Rating Providers (ERPs), aiming to enhance transparency and accountability.

Key Highlights:

• The proposals focus on key areas such as the withdrawal of ESG ratings and the disclosure of rating rationale.
• ERPs provide ESG ratings covering environmental, social, and governance Last year, SEBI made it mandatory for such entities to register and obtain an ERP license.
• In a discussion paper, SEBI has outlined conditions for ERPs to withdraw ratings under both the subscriber-pays and issuer-pays
• Under the subscriber-pays model, SEBI has proposed that ERPs can withdraw a rating if there are no subscribers for it.
• However, if the rated entity or instrument is part of a rating package, such as the Nifty 50 index, with existing subscribers, the rating may not be withdrawn.
• Additionally, if a rating is withdrawn, it must be withdrawn for all subscribers.
• Under the issuer-pays model, ERPs will be able to withdraw a rating after rating the security continuously for three years or 50% of the security’s tenure, whichever is higher.
• Withdrawal also requires approval from 75% of bondholders by value.

Who is an ESG Rating Provider?

• An ESG Rating Provider (ERP) is an independent agency that assesses and rates companies based on their Environmental, Social, and Governance (ESG) practices, providing investors with a measure of a company's sustainability performance to inform investment decisions; essentially, they analyze how well a company manages its environmental impact, social responsibility, and corporate governance standards.

India's leading export financing institute, EXIM Bank to Fund Vietnam’s Procurement of Guard Boats and Patrol Vessels with USD 300 Million Line of Credit

• The Export-Import Bank of India (Exim Bank) will provide lines of credit (LoC) totaling USD 300 million to Vietnam for procuring high-speed guard boats and offshore patrol vessels (OPVs).
• A line of credit (LOC) is a pre-approved borrowing limit that a customer can use to access funds from a bank or financial institution.

Key Highlights:

• The Exim Bank entered into an agreement on July 31, 2024, with the Government of the Socialist Republic of Vietnam (GO-VNM) for an India-supported LoC of USD 180 million to procure four OPVs, the Reserve Bank of India (RBI)
• Additionally, the bank signed another agreement with GO-VNM for an LoC of USD 120 million to procure high-speed guard boats, according to an RBI circular.
• Both agreements are effective from January 20, 2025, and the last date for disbursement is 60 months after the scheduled completion date of the project.
• The export of eligible goods and services from India will be subject to the Foreign Trade Policy.

Recent News:

• In January 2025, India Exim Bank (Export-Import Bank of India) raised USD 1 billion by issuing 10-year bonds in the international market, the bank announced

About EXIM Bank:

• Founded Year: 1982
• Headquarters: Mumbai, Maharashtra, India
• CEO: Harsha Bangari

CURRENT AFFAIRS: NATIONAL NEWS

Government Sanctions ₹3,295.76 Crore for Development of Iconic Tourist Centres

• The Government of India has approved 40 projects across 23 states under the ‘Special Assistance to States for Capital Investment (SASCI)—Development of Iconic Tourist Centres to Global Scale’ Scheme for the Financial Year 2024-25.
• The total financial outlay for these projects is ₹3,295.76 crore, and they aim to comprehensively develop, brand comprehensively, and market iconic tourist destinations in India.

Key Highlights of the Scheme

• Objective: Develop world-class tourist destinations with end-to-end tourism experiences.
• Project Scope:Strengthening tourist value chains (infrastructure, facilities, and services).
• Funding support to states for project implementation.
• Sustainable operation & maintenance of destinations.
• Expertise-driven design and development for long-term viability.
• Selection Criteria:Connectivity to the site and supporting the tourism
• Carrying capacity and sustainability measures.
• Marketing plans for domestic and global tourism.
• Potential economic and social impact on tourism growth.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Institute of Chartered Accountants of India elects new President and Vice President for the 2025-26 term

• The Institute of Chartered Accountants of India (ICAI) elected its new President and Vice President for the term 2025-26 during its 26th Council meeting on February 12, 2025.

Newly Elected Leadership:

• President: CA Charanjot Singh Nanda (73rd President of ICAI)
• Vice President: CA Prasanna Kumar D
• The leadership transition saw CA Ranjeet Kumar Agarwal passing the presidency to CA Charanjot Singh Nanda and CA Charanjot Singh Nanda passing the vice-presidency to CA Prasanna Kumar D

About CA Charanjot Singh Nanda:

• Fellow Chartered Accountant (FCA) with 34 years of experience in practice since 1991.
  • Completed Bachelor of Commerce from MLN College in 1987.
  • Secured a place in the merit list at Kurukshetra University throughout his undergraduate studies.
• Professional Achievements:
  • Secured 35th rank in the CA Inter Examination.
  • Qualified as a Chartered Accountant in 1991.
  • Elected Chairman of the Northern India Regional Council (NIRC) of ICAI (2002-03).
  • Elected to ICAI’s Central Council in 2004 and has served six terms.
  • Served as Vice President in 2024-25 and elected as President in his 7th term as a Central Council member.

About CA Prasanna Kumar D:

• Newly elected Vice President for 2025-26.
• Previously served as a key Central Council member of ICAI.

About ICAI:

• Founded: July 1, 1949
• Headquarters: New Delhi, India
• President: CA Charanjot Singh Nanda
• Regulated by: Ministry of Corporate Affairs, Government of India

Greece elects former parliamentary speaker Constantine Tassoulas,as its new president

• Greece's parliament elected Constantine Tassoulas, former parliamentary speaker, as the country's new president.
• He was approved as the conservative government's nominee for the largely ceremonial role.
• Tassoulas will succeed Katerina Sakellaropoulou, Greece’s first female president.
• Sakellaropoulou’s five-year term expires in March, 2025.

Key Highlights:

• The decision to nominate Tassoulas sparked protests outside parliament.
• Protesters demand justice for the 2023 train crash, Greece’s worst rail disaster.
• Critics argue that under Tassoulas’ tenure as parliamentary speaker, lawmakers failed to investigate political responsibility for the deadly crash.
• The judicial probe is still ongoing after two years.
• Parliament is the only body that can investigate politicians under Greek law.

About Greece:

• Capital: Athens
• Currency: Euro (€)
• President: Constantine Tassoulas
• Prime Minister: Kyriakos Mitsotakis

President’s Rule Imposed in Manipur Amid Political Crisis

• President’s Rule was imposed in February 2025 after Manipur Chief Minister N. Biren Singh resigned, citing political instability.
• A notification from the Ministry of Home Affairs (MHA) stated that President Droupadi Murmu believes the state government cannot function as per constitutional provisions, leading to the invocation of Article 356.
• The state assembly has been put under suspended animation following the imposition of President’s Rule.
• Biren Singh resigned on February 9, 2025, just before the budget session of the assembly, amid controversy over leaked audio tapes allegedly implicating him in the ethnic violence.
• The BJP failed to reach a consensus on a new Chief Minister, leading to governance deadlock.
• BJP lawmakers met Governor Ajay Kumar Bhalla, but no decision was reached on a replacement for Singh.
• As per Article 174(1) of the Constitution, the Manipur Assembly had to be reconvened by February 12, 2025, but political instability led to President’s Rule instead.
• Security forces intensified operations in hill and valley districts, conducting search operations amid rising ethnic tensions.

What is Article 356 of the Indian Constitution?

• Article 356empowers the President to impose central rule in a state on the advice of the Union Council of Ministers if he is satisfied that the state’s governance cannot be carried out in accordance with constitutional provisions.
• Once invoked, all functions of the state government are transferred to the Centre, and the powers of the state legislature are exercised by Parliament for the duration of its enforcement.
• Exception: The only exception is the functioning of High Courts, which remains unaffected.

History of President’s Rule in India?

1. Since 1950, President’s Rule has been imposed 134 times across 29 states and UTs.
2. Manipur and Uttar Pradesh have seen the most frequent impositions, 10 times each.

Note– However, these are not the regions that have spent the longest time under central control.

States/UTs with the longest duration under President’s Rule:

1. Jammu & Kashmir– Over 12 years.
2. Punjab– Over 10 years.

• Both faced prolonged militant and separatist activityleading to instability.

3. Puducherry– Over 7 years.

• Frequent government collapsesdue to infighting and defections.

Procedure for Imposition of President’s Rule:

• Governor’s Report: Initiated if the President is satisfied that the state government cannot function as per constitutional provisions (based on the Governor’s report).
• Presidential Satisfaction: If convinced, the President issues a proclamation imposing President’s Rule.
• Parliamentary Approval: Both Houses of Parliament must approve the proclamation within two months by a simple majority.
• Duration: Initially imposed for six months, extendable up to three years with parliamentary approval every six months.
• Extension Beyond One Year: Allowed only if:
  a) The Election Commission certifies that elections cannot be held.
  b) A national emergency is in effect (either nationwide or in the concerned state).

About Manipur:

• Chief Minister: President rule (From February 9,2025)
• Governor: Ajay Bhalla
• Capital: Imphal
• National Parks: Keibul Lamjao National Park
• Wildlife Sanctuaries: Yangoupokpi-Lokchao Wildlife Sanctuary, Sirohi National Park, Manipur Zoological Garden, Ferenwild Sanctuary

CURRENT AFFAIRS: ACQUISITION & MERGER

JioStar launches new OTT player JioHotstar, merging JioCinema and Disney Hotstar into one platform

• On February 14, 2025, JioCinema and Disney+ Hotstar officially merged to form JioHotstar, creating one of India's largest streaming platforms.

Key Highlights:

• Content Library: JioHotstar offers nearly 300,000 hours of entertainment, combining the extensive libraries of both JioCinema and Disney+ Hotstar.
• Subscription Plans: The platform has introduced new subscription plans to cater to diverse audience needs:
  • Mobile Plan: ₹149 for 3 months or ₹499 per year; allows streaming in HD (720p) on one mobile device.
  • Super Plan: ₹299 for 3 months or ₹899 per year; supports Full HD (1080p) streaming on two devices.
  • Premium Plan: ₹299 per month (web purchase only), ₹499 for 3 months, or ₹1,499 per year; offers 4K streaming on up to four devices with an ad-free experience, except for live content.
• Existing Subscribers: Current subscribers of JioCinema and Disney+ Hotstar will be seamlessly transitioned to JioHotstar. For instance, JioCinema subscribers will receive an equivalent duration of JioHotstar Premium access. Upon the expiration of their current subscription, users can choose from the new JioHotstar plans.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Google renames 'Gulf of Mexico' as 'Gulf of America' after Trump's order

• Tech giant Google has officially renamed the Gulf of Mexico to the ‘Gulf of America’ on Google Maps for American users.
• For Mexican users, it will still be displayed as the Gulf of Mexico.
• For the rest of the world, both names will appear on Google Maps.

Key Highlights:

• Executive Order 14172, titled ‘Restoring Names That Honour American Greatness’, was signed by S. President Donald Trump.
• The order directs the U.S. Secretary of the Interior to formalize the name change within 30 days.
• February 9 has been officially declared as ‘Gulf of America Day’ by Trump.
• The executive order defines the newly named Gulf of America as including the:
  • S. Continental Shelf area
  • Boundaries: Northeast, north, and northwest by Texas, Louisiana, Mississippi, Alabama, and Florida
  • Extends to the maritime boundary with Mexico and Cuba

About Google:

• Founded: September 4, 1998
• Headquarters: Mountain View, California, USA
• CEO: Sundar Pichai

CURRENT AFFAIRS: MOUS AND AGREEMENT

India Energy Week 2025: Key Agreements & memorandum of understanding Signed to Strengthen Energy Security

• At India Energy Week 2025, India signed multiple strategic agreements and memorandum of understanding (MoUs) to enhance energy security, diversify supply sources, and foster innovation in the oil and gas sector.
• Shri Hardeep Singh Puri, Minister of Petroleum and Natural Gas, highlighted these agreements as crucial for ensuring a resilient and sustainable energy future.

Major Agreements Signed

1. Diversification of Crude Oil Imports

• BPCL & Petrobras (Brazil): Optional term contract to import up to 6 million barrels of crude.

2. Transition to a Natural Gas-Based Economy

• IOCL & ADNOC (UAE): USD 7 billion contract to source 1.2 MMTPA LNG for 14 years (from 2026).
• BPCL & ADNOC: 5-year LNG offtake agreement for 2.4 MMT, extendable by another five years.
• IOCL & Nepal’s Yogya Holdings: First LNG export agreement with 1,000 metric tons (TMT) annually via cryogenic trucks through Odisha’s Dhamra Terminal.

3. Offshore Oilfield & Hydrocarbon Exploration

• ONGC & BP: BP selected as Technical Services Provider for Mumbai High field, India’s largest offshore oilfield.
• EIL & BP Business Solutions India: MoU for collaboration on refining, pipeline operations, and emission reduction technologies.
• ONGC Videsh Limited. & Petrobras: MoU for upstream oil & gas projects in Brazil, India, and third countries, including low-carbon solutions.
• Oil India Ltd. & Petrobras: MoU for hydrocarbon exploration in India’s deep and ultra-deep offshore basins, aligning with the Hydrocarbon Exploration and Licensing Policy (HELP).

4. Advancing Clean Energy & Biofuels

• BPCL & Eco Wave Power (Israel): Establishment of India’s first wave energy pilot project in Mumbai using wave energy converter technology.
• BPCL & National Sugar Institute (Kanpur): MoU to scale up sweet sorghum-based bioethanol production and build capacity for farmers & industry partners.

5. Hydrocarbon Trade Enhancement

• BPCL & Equinor India Pvt. Ltd.: Agreement for LPG (propane & butane) purchases.

Philippines to Place $200 Million Order for India's Akash Missile System

• The Philippines is set to place an order worth $200 million for India's indigenously developed Akash short-range missile system in the upcoming financial year.
• This move comes amid rising tensions with China in the South China Sea.

Key Highlights of the Deal

• The Akash missile system, developed by DRDO, has a range of up to 25 km.
• The Philippine deal is expected to be bigger than the $230-million Armenian deal signed last year.
• The exact number of missiles and radar systems involved has not been disclosed.
• This will be India’s second major defence export to Manila after the $375-million BrahMos missile deal (2022).

India-Philippines Defence Cooperation

Year	Deal	Value ($ Million)	Remarks
2022	BrahMos Supersonic Cruise Missile	375	The first major defence export to the Philippines
2023	Akash Short-Range Missile System	200 (Expected)	Second major deal with the Philippines

About Philippines

• Capital: Manila
• Currency: peso
• President: Bongbong Marcos

Department for Promotion of Industry and Internal Trade Partners with Rukam Capital and Bootstrap Incubation & Advisory Foundation to Boost Startup Ecosystem

• The Department for Promotion of Industry and Internal Trade (DPIIT) has announced a strategic partnership with Rukam Capital and Bootstrap Incubation & Advisory Foundation to drive the holistic growth of India's startup ecosystem.
• This collaboration was formalized through a Memorandum of Understanding (MoU) and aims to create dedicated programs and initiatives for product startups, innovators, and entrepreneurs.

Key Highlights:

• The primary goal of this initiative is to empower startups by providing access to crucial resources, including infrastructure, mentor networks, funding opportunities, market linkages, and a knowledge repository.
• The partnership will guide startups in achieving critical milestones such as prototype development and provide strategic support for international expansion.
• Shri Sanjiv, Joint Secretary, DPIIT, emphasized that this collaboration is focused on building a stronger foundation for product startups in India.
• Bootstrap Incubation & Advisory Foundation and Rukam Capital have already committed to establishing focused programs specifically designed to nurture product startups and innovators.
• These programs will provide structured support to budding entrepreneurs, helping them excel in their respective domains.

Rukam Capital’s Perspective on the Partnership

• Archana Jahagirdar, Founder and Managing Partner of Rukam Capital, highlighted the importance of this partnership in strengthening India's startup ecosystem.
• This, in turn, will contribute to India’s economic growth and global competitiveness.
• This partnership marks a significant milestone in India's startup journey, fostering an environment where entrepreneurs can thrive and make a lasting impact on the economy.

India and Indonesia Sign Memorandum of Understanding on Traditional Medicine Quality Assurance

• At Hyderabad House, New Delhi, Prime Minister of India, Shri Narendra Modi, and President of Indonesia, Mr. Prabowo Subianto, witnessed the Exchange of Memorandum of Understanding (MoU) between India and Indonesia.
• One of the key MoUs exchanged was in the Field of Traditional Medicine Quality Assurance, signed between the Pharmacopoeia Commission for Indian Medicine & Homeopathy, Ministry of Ayush, and the Indonesian Food and Drug Authority.

Key Highlights:

About PCIM&H and the Significance of the Partnership

• The Pharmacopoeia Commission for Indian Medicine & Homeopathy (PCIM&H) is an IS/ISO 9001:2015 certified institution committed to maintaining and establishing quality standards for Indian medicine and homeopathy.
• This strategic partnership with Indonesia will significantly benefit stakeholders in both countries by ensuring quality assurance and regulatory alignment in traditional medicine.
• The MoU focuses on fostering collaboration in traditional medicine quality assurance, with both parties committing to various cooperative initiatives, including:
• Exchange of Information & Expertise: Sharing regulatory provisions and best practices in traditional medicine.
• Capacity-Building Initiatives: Organizing seminars, workshops, and training programs to enhance professional knowledge and skills.
• Technical Visits: Facilitating familiarization with regulatory processes in both countries.
• Joint Participation in International Events: Representing traditional medicine on global platforms.
• Collaboration on Training Programs: Conducting joint training for industries and entities involved in traditional medicine.
• Expansion of Cooperation: Exploring additional areas of collaboration based on mutual interests.
• This MoU marks an important step towards global recognition and standardization of traditional medicine, ensuring better safety, efficacy, and accessibility for people in both nations.

India and European Union Strengthen Cooperation on Smart and Sustainable Urbanization

• The 4th India-European Union (EU) Urban Forum served as a crucial step in shaping a collaborative approach to India's urban transformation.
• It reinforced the shared commitment of India and the EU to driving smart, sustainable, and inclusive urban development in line with the Ministry of Housing and Urban Affairs (MoHUA)’s programs and missions.

Key Highlights:

• The forum focused on three key themes aimed at fostering resilient, gender-inclusive, and sustainable urban development:

1. Urban Alliance and Integrated Approaches in Indian Cities – Promoting holistic urban planning and collaboration across multiple sectors.
2. Promoting Innovation and Circularity at the City Level – Encouraging the adoption of circular economy principles for sustainable urban growth.
3. Inclusive Urban Mobility as a Social Enabler – Enhancing public transportation and accessibility to improve social equity.

Impact of the EU-India Collaboration:

• In 2017 Joint Declaration on Partnership for Smart and Sustainable Urbanization, the 4th India-EU Urban Forum was held in New Delhi, marking a significant milestone in the EU-India collaboration on sustainable urban development.
• Recognizing that urban areas account for two-thirds of global energy consumption, emissions, and pollution, the India-EU collaboration has been crucial in advancing:
• Sustainable city models and climate-smart urban development.
• Public-private investments in infrastructure and green projects.
• Climate action and disaster risk reduction strategies.
• Urban mobility solutions and waste management initiatives.
• Since 2017, Team Europe has actively engaged with over 40 Indian municipalities, helping them enhance their understanding of climate-smart development and supporting policy reforms for sustainable urbanization.
• This partnership continues to align with evolving urban challenges and opportunities, ensuring that Indian cities are better equipped for the future through innovation, climate resilience, and inclusive urban planning.

CURRENT AFFAIRS: RANKING AND INDEX

Bloomberg’s List of Asia’s 20 Richest Families (2025)

• Indians continue to dominate Asia's wealth rankings, with six Indian families making it to Bloomberg’s list of Asia’s 20 richest families.
• The Ambani family leads the chart with a massive fortune of $90.5 billion, significantly ahead of the second-richest family in Asia.

Top 10 Richest Families in Asia

Rank	Family	Country	Net Worth (Billion $)	Company / Industry
1	Ambani	India	90.5	Reliance Industries – Oil, Telecom, Retail
2	Chearavanont	Thailand	42.6	Charoen Pokphand Group – Food, Retail, Telecom
3	Hartono	Indonesia	42.2	Bank Central Asia – Banking, Tobacco
4	Mistry	India	37.5	Shapoorji Pallonji Group – Engineering, Construction
5	Kwok	Hong Kong	35.6	Sun Hung Kai Properties – Real Estate
6	Tsai	Taiwan	30.9	Cathay Life & Fubon Insurance – Finance, Real Estate
7	Jindal	India	28.1	OP Jindal Group – Steel, Energy, Cement
8	Yoovidhya	Thailand	25.7	TCP Group – Red Bull (Beverages)
9	Birla	India	23.0	Aditya Birla Group – Financial Services, Metal, Retail
10	Lee	South Korea	22.7	Samsung – Electronics

Other Indian Families in the Top 20

Rank	Family	Country	Net Worth (Billion $)	Company / Industry
12	Bajaj	India	20.1	Bajaj Group – Automobiles, Finance
15	Hinduja	India	15.2	Hinduja Group – Diversified Conglomerate

India's strong representation in the list showcases its business acumen, industrial diversification, and global economic influence.

Karnataka Tops Local Governance Health Index 2024

• Karnataka has emerged as the best-performing state in local governance in 2024, overtaking Kerala, which held the top position in 2015-16.
• The findings were published in a report by the Indian Institute of Public Administration (IIPA).
• Union Minister of State for Panchayati Raj and Fisheries, Animal Husbandry and Dairying, Prof. SP Singh Baghel, launched the Panchayat Devolution Index 2024, prepared by the Indian Institute of Public Administration (IIPA).
• The index ranks states and Union Territories (UTs) based on their efforts in strengthening Panchayati Raj Institutions (PRIs) through the devolution of functions, finances, and administrative powers.

Key Highlights of the Report

• The ranking was based on six key parameters:
  1. Framework
  2. Finances
  3. Functions
  4. Functionaries
  5. Capacity Enhancement
  6. Accountability
• Uttar Pradesh (UP) made a significant jump from 15th place to 5th place, showing strong improvements in transparency and anti-corruption measures in Panchayati Raj governance.
• Tripura also showed progress, moving from 13th place to 7th place.

Top-Performing States in Panchayat Governance (2024)

Rank	State	Key Achievements
1st	Karnataka	Best overall implementation of Panchayat governance
2nd	Kerala	Strong institutional framework and functionary support
3rd	Tamil Nadu	High performance in functionaries and finance management
4th	Maharashtra	Notable progress in decentralization
5th	Uttar Pradesh	Significant improvement in accountability and infrastructure
7th	Tripura	Strong revenue collection and financial autonomy

CURRENT AFFAIRS: SPORTS NEWS

Shikhar Dhawan Named Official Ambassador for ICC Champions Trophy 2025

• The ICC Champions Trophy 2025, scheduled from February 19 to March 9 in Pakistan and Dubai, has gained further excitement with the announcement of Shikhar Dhawan as one of its official event ambassadors.
• Dhawan, India’s highest run-scorer in the tournament’s history, joins an elite group of cricketing legends to promote the competition.

Shikhar Dhawan’s Role as an Ambassador

• India’s highest run-scorer in Champions Trophy history with 701 runs.
• The only player to win the Golden Bat in two consecutive editions (2013 & 2017).
• Will engage with fans through guest columns, exclusive insights, and content about the tournament.

Other Iconic Ambassadors for ICC Champions Trophy 2025

Alongside Dhawan, three other cricketing legends have been appointed as official ambassadors:

1. Sarfaraz Ahmed – Pakistan’s 2017 Winning Captain
   • Led Pakistan to its first-ever Champions Trophy title in 2017.
   • Known for his leadership and match-winning performances in the final against India.
2. Shane Watson – Australia’s Champion All-Rounder
   • Played in multiple Champions Trophy editions.
   • Brings deep knowledge of the high-stakes pressure of ICC tournaments.
3. Tim Southee – New Zealand’s Bowling Spearhead
   • A key figure in New Zealand’s bowling attack for years.
   • Offers valuable insights on fast bowling strategies in major tournaments.

Shikhar Dhawan’s Champions Trophy Legacy

• India’s leading run-scorer in tournament history.
• 701 runs across two editions, playing a crucial role in India’s success.
• Delivered match-winning performances in 2013 (Champion) & 2017 (Finalist) editions.
• A symbol of consistency, dominance, and big-match temperament.

RECENT NEWS

• The International Cricket Council (ICC) has officially launched the theme song for the upcoming ICC Men’s Champions Trophy 2025, titled ‘Jeeto Baazi Khel Ke’, sung by the renowned Pakistani singer Atif Aslam.

About ICC

• Headquarters: Dubai, United Arab Emirates
• Founded: 15 June 1909
• Chairman: Jay Shah

ICC Players of the Month – January 2025

• The International Cricket Council (ICC) has announced Jomel Warrican (West Indies) and Beth Mooney (Australia) as the Players of the Month for January 2025, recognizing their exceptional performances in international cricket.
• India’s leading Test bowler, Jasprit Bumrah, and Australia’s talented all-rounder, Annabel Sutherland, have been named the ICC Men’s and Women’s Players of the Month for December 2024.

Jomel Warrican – ICC Men’s Player of the Month

• First ICC Men’s Player of the Month award.
• Key figure in West Indies’ historic Test win in Pakistan (first since 1990).
• Took 19 wickets in two Tests at an average of 9.00.
• First West Indian to win the award since Gudakesh Motie (May 2024).

Beth Mooney – ICC Women’s Player of the Month

• Recognized for her role in Australia’s Ashes triumph over England.
• Had a slow start but delivered match-winning performances in ODIs and T20Is.
• Followed Annabel Sutherland (December 2024 winner), continuing Australia’s dominance.

Bangladesh's Shohely Akhter Becomes First Woman Cricketer Banned by ICC for Corruption

• Bangladesh's Shohely Akhter has become the first woman cricketer to be banned by the International Cricket Council (ICC) for corruption charges.
• The 36-year-old off-spinner was found guilty of attempting to fix matches during the 2023 Women’s T20 World Cup and has been banned for five years from all forms of cricket, effective February 10, 2025.

Corruption Charges & ICC Ban

The ICC Anti-Corruption Unit (ACU) found Shohely Akhter guilty of violating five provisions of the ICC Anti-Corruption Code:

• Article 2.1.1: Attempting to fix matches or influence their outcome.
• Article 2.1.3: Engaging in corrupt conduct by making improper approaches to fellow players.
• Article 2.1.4: Offering money to manipulate match outcomes.
• Article 2.4.4: Failing to report corrupt approaches to the ICC.
• Article 2.4.7: Trying to obstruct investigations into corruption.

Shohely admitted to all charges and accepted the five-year ban imposed by the ICC.

Shohely Akhter’s Cricketing Career

• Played 2 ODIs and 13 T20Is for Bangladesh.
• Last appeared for the national team in 2022.
• Was not part of the 2023 Women’s T20 World Cup squad but still made corrupt approaches to a teammate during the tournament.

The Corruption Attempt: How Shohely Was Caught

• On February 14, 2023, the day of the Bangladesh vs. Australia match in the Women’s T20 World Cup, Shohely attempted to fix the match by approaching a Bangladeshi teammate (identified as ‘Player A’ by ICC) via Facebook Messenger.

Fixing Attempt Details

• Shohely claimed her ‘cousin’ was involved in betting.
• She offered 2 million Bangladesh Takas (~$18,000 USD) if Player A got out hit wicket.
• She promised secrecy, stating she would delete all messages.
• Suggested that higher amounts could be offered if 2 million Takas was not enough.

Daily CA One- Liner: February 15

• The Government of India has approved 40 projects across 23 states under the ‘Special Assistance to States for Capital Investment (SASCI)—Development of Iconic Tourist Centres to Global Scale’ Scheme for the Financial Year 2024-25
• At India Energy Week 2025, India signed multiple strategic agreements and MoUs to enhance energy security, diversify supply sources, and foster innovation in the oil and gas sector.
• The Philippines is set to place an order worth $200 million for India's indigenously developed Akash short-range missile system in the upcoming financial year
• The Department for Promotion of Industry and Internal Trade (DPIIT) has announced a strategic partnership with Rukam Capital and Bootstrap Incubation & Advisory Foundation to drive the holistic growth of India's startup ecosystem.
• At Hyderabad House, New Delhi, Prime Minister of India, Shri Narendra Modi, and President of Indonesia, Mr. Prabowo Subianto, witnessed the Exchange of Memorandum of Understanding (MoU) between India and Indonesia.
• The 4th India-EU Urban Forum served as a crucial step in shaping a collaborative approach to India's urban transformation.
• Indians continue to dominate Asia's wealth rankings, with six Indian families making it to Bloomberg’s list of Asia’s 20 richest families
• Karnataka has emerged as the best-performing state in local governance in 2024, overtaking Kerala, which held the top position in 2015-16
• The ICC Champions Trophy 2025, scheduled from February 19 to March 9 in Pakistan and Dubai, has gained further excitement with the announcement of Shikhar Dhawan as one of its official event
• The International Cricket Council (ICC) has announced Jomel Warrican (West Indies) and Beth Mooney (Australia) as the Players of the Month for January 2025, recognizing their exceptional performances in international cricket
• Bangladesh's Shohely Akhter has become the first woman cricketer to be banned by the International Cricket Council (ICC) for corruption charges
• Ashoka University has partnered with Axis Bank to strengthen its PhD, Post-Doctoral, and Research
• Securities and Exchange Board of India (SEBI) has approached the government seeking more powers to act against unauthorised financial advisors on social media platforms like WhatsApp and Telegram.
• Indian banks' net interest margins (NIMs) will likely decline by 10 basis points on average in 2025-26 due to the Reserve Bank of India's interest rate cuts, but the drop will be cushioned by the central bank easing liquidity conditions, Fitch Ratings stated.
• Reserve Bank of India (RBI) Bars New India Co-operative Bank from issuing new loans and suspends deposit withdrawals for six months due to supervisory concerns and liquidity issues.
• The Securities and Exchange Board of India (SEBI) has proposed new measures to strengthen the regulatory framework for ESG Rating Providers (ERPs), aiming to enhance transparency and accountability.
• The Export-Import Bank of India (Exim Bank) will provide lines of credit (LoC) totaling USD 300 million to Vietnam for procuring high-speed guard boats and offshore patrol vessels (OPVs).
• The Institute of Chartered Accountants of India (ICAI) elected its new President and Vice President for the term 2025-26 during its 26th Council meeting on February 12, 2025. (President: CA Charanjot Singh Nanda, Vice President: CA Prasanna Kumar D)
• Greece's parliament elected Constantine Tassoulas, former parliamentary speaker, as the country's new president.
• President’s Rule was imposed in February 2025 after Chief Minister N. Biren Singh resigned, citing political instability.
• On February 14, 2025, JioCinema and Disney+ Hotstar officially merged to form JioHotstar, creating one of India's largest streaming platforms.
• Tech giant Google has officially renamed the Gulf of Mexico to the ‘Gulf of America’ on Google Maps for American users.