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CURRENT AFFAIRS: BANKING & FINANCE

Bank Credit Growth to Non Banking Financial Companies Hits Four-Year Low at 6.7% in 2024: RBI data

• Bank lending to Non Banking Financial Companies (NBFCs) grew at 6.7% in 2024, compared to 15% in 2023, reaching ₹16.22 lakh crore as of December 2024.
• In absolute terms, bank lending fell to ₹1 lakh crore in 2024 from nearly ₹2 lakh crore in the previous year, according to RBI data.
• The slowdown was driven by higher funding costs after the RBI raised risk weights on such loans.

Key Highlights:

• In November 2023, RBI increased the risk weight on bank credit to NBFCs by 25 basis points to 125%, making lending costlier and leading banks to become more selective.
• NBFCs are diversifying their funding sources, turning to the domestic capital market (bonds) and the overseas market (dollar bonds and syndicated loans).
• External Commercial Borrowings (ECBs) reached a five-year high in 2024, with ₹3.64 lakh crore raised.
• Shriram Finance raised $1.277 billion, while Muthoot Finance raised $400 million through secured notes.
• ECBs, while attractive, have a maximum limit of $750 million per fiscal under the automatic route.
• The slowdown in bank credit to NBFCs also reflects a decline in unsecured loan growth, aligning with RBI’s efforts to curb over-reliance on banks and ensure financial stability.

About NBFC:

• A Non-Banking Financial Company (NBFC) is a company that offers financial services and products, but is not a bank.
• NBFCs are registered under the Companies Act, 1956.
• it does not have a full banking license or is not supervised by a national or international banking regulatory agency.
• NBFC facilitate bank-related financial services, such as investment, risk pooling, contractual savings, and market brokering.

Recent News:

• In February 2025, The RBI launched RBIDATA, a mobile app providing seamless access to 11,000+ macroeconomic and financial data series.

About RBI :

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

India's Gross Domestic Product (GDP) growth to Slow to 6.4% in 2025: Moody’s Analytics

• India's economic growth is projected to slow to 4% in 2025, down from 6.6% in 2024, primarily due to new U.S. tariffs and weakening global demand impacting exports, according to a report by Moody's Analytics.
• The report, titled 'Asia-Pacific Outlook: Chaos Ahead,' highlights that the entire Asia-Pacific region is expected to experience slower growth as trade tensions, policy uncertainties, and uneven economic recoveries affect the region's fortunes.

Key Highlights:

• Specifically, China's GDP growth is forecasted to decline from 5% in 2024 to 4.2% in 2025 and 3.9% in 2026.
• For India, the anticipated slowdown is attributed to external trade pressures and a moderation in domestic demand, despite the country's position as one of the fastest-growing major economies.
• Moody's projects that India's GDP will remain in the low-6% range in the coming years, with growth estimated at 4% for both 2025 and 2026.
• The report also notes that rising geopolitical uncertainties, supply chain disruptions, and potential policy shifts will shape economic outcomes for Asia-Pacific nations.
• While India's domestic demand remains a key driver, export-dependent sectors may face challenges due to global trade restrictions.
• In response to these challenges, the Reserve Bank of India (RBI) has implemented measures such as tax relief and a recent rate cut to boost the economy.
• The RBI predicts that urban demand will recover due to reduced inflation and higher disposable incomes from the substantial income tax relief in the 2025-26 Union Budget.
• Rural demand is expected to be bolstered by strong agricultural performance.
• Despite these efforts, the Indian equity markets have experienced declines, with the Nifty 50 index dropping about 13% since its peak in late September 2024.
• This downturn is attributed to the slowdown in corporate earnings growth and the exit of foreign investors amid a weakening economy.
• Overall, while India's domestic fundamentals remain relatively strong, external challenges such as new U.S. tariffs and weakening global demand are expected to impact the country's economic growth trajectory in the near term.

About Moody’s Ratings:

• Founded: 1909 by John Moody
• Headquarters: New York City, USA
• Operations: Moody's Ratings (Credit Ratings), Moody's Analytics (Financial Analysis)
• President & CEO: Rob Fauber

Reserve Bank of India’s Open Market Operation Purchase Auction Sees Bids Surge to ₹1.87 Trillion Against ₹40,000 Crore Offer  

• Reserve Bank of India received bids worth ₹1.87 trillion against the notified amount of ₹40,000 crore at the Open Market Operation
• The cut-off price was set below the secondary market price due to high demand.
• PSU banks were major participants, driven by liquidity deficit.

Key Highlights:

• RBI has purchased ₹1 trillion in government securities via OMO auctions.
• RBI bought ₹58,875 crore worth of securities in January through screen-based OMOs.
• RBI acquired ₹39,000 crore worth of bonds in the secondary market.
• The banking system faced a net liquidity deficit of ₹1.77 trillion as of Wednesday.
• Market participants anticipate additional OMO auctions for durable liquidity.
• RBI infused ₹1.33 trillion via an overnight Variable Rate Repo (VRR)
• A 14-day VRR auction to infuse ₹75,000 crore is scheduled for On February 21, 2025.
• Corporate bond yields have hardened despite a 25 bps policy rate cut.
• Yield spread between corporate and government bonds widened by 25 bps in February.
• Short-term bond yields have risen more sharply than long-term yields, causing an inverted yield curve.

What Are Open Market Operations (OMOs)?

• Open market operation (OMO) is a term that refers to the purchase and sale of securities in the open market by the Federal Reserve (Fed).
• The Fed conducts open market operations to regulate the supply of money that is on reserve in U.S. banks.
• The Fed purchases Treasury securities to increase the money supply and sells them to reduce it.
• By using OMOs, the Fed can adjust the federal funds rate, which in turn influences other short-term rates, long-term rates, and foreign exchange rates.

What is Variable Rate Repo? 

• It is a mechanism where the RBI permits banks to borrow funds at rates determined by the market, differing from the fixed Repo Rate at which banks borrow directly from the RBI.
• Typically lasting up to 14 days, VRR serves as a means to inject short-term liquidity into the banking system.
• Conversely, Variable Rate Reverse Repo (VRRR) is employed to absorb surplus liquidity from the system.

India set to become high-income country by 2047 buoyed by services sector: Report

• India is projected to become a high-income country by 2047 with a GDP of USD 23-35 trillion.
• The services sector will contribute 60% of GDP, while manufacturing will account for 32%.
• 200 million individuals expected to enter the workforce, creating opportunities for high-value job creation.
• Sectoral technology roadmap and advances in AI-driven chip design, touchless manufacturing, and backward integration to boost competitiveness and innovation.
• The manufacturing sector’s export share could rise from 24% to 45%-50% by 2047, with GDP contribution increasing from 3% to 8%-10%.
• Renewable energy share in total energy production could increase from 24% (2023) to 70% (2047).
• Auto-component exports are expected to reach USD 200-250 billion by 2047, driven by ICE market share capture and transition to EVs.
• The projections and insights are based on a report by Bain & Company and Nasscom.

CURRENT AFFAIRS: NATIONAL NEWS

India Becomes 2nd Country to Launch Electronic Personnel License (EPL) for Flight Crew

• India has made a significant advancement in modernizing its aviation sector by launching the Electronic Personnel License (EPL) for flight crew.
• With this initiative, India becomes the second country in the world after China to implement digital licensing for pilots.
• The EPL was introduced by Civil Aviation Minister K. Rammohan Naidu and is expected to enhance convenience, transparency, and efficiency in the licensing process.
• This initiative aligns with India’s vision of digital transformation and aviation safety, catering to the increasing demand for pilots in the country’s rapidly growing aviation industry.

Key Highlights of the EPL Initiative

Global Milestone

• India is the second country globally, after China, to introduce EPL for flight crew.

Launch Details

• Launched by: Civil Aviation Minister Rammohan Naidu
• Regulatory Body: Directorate General of Civil Aviation (DGCA)

Objectives of EPL

• Streamline the licensing process for pilots.
• Enhance safety, security, and efficiency in civil aviation.
• Boost digital transformation in the aviation sector.

Aviation Sector Growth Projections

• India is one of the fastest-growing aviation markets in the world.
• Projected demand for 20,000 additional pilots in the coming years.
• Expansion plans include 50 new airports in the next five years.
• 120 new domestic routes to be added over the next decade.

CURRENT AFFAIRS: STATE NEWS

Uttar Pradesh government presents Rs 8.09 lakh crore budget, largest in state history

• The Uttar Pradesh Budget 2025-26, presented by State Finance Minister Suresh Kumar Khannaon February 20, 2025, has a total outlay of ₹8,08,736 crore. 
• This reflects a 8% increase from the ₹7,36,437 crore budget of 2024-25.

Key Points from Uttar Pradesh Budget 2025-26:

1. Budget Overview
   • Total Budget: ₹8,08,736 crore (₹8.08 lakh crore), a 8% increase from the previous year's ₹7,36,437 crore.
   • New Expenditure: ₹28,478 crore allocated for new initiatives.
2. Major Sector Allocations
   • Infrastructure Development: ₹1,79,921 crore (22%) – roads, expressways, smart cities.
   • Education: ₹1,06,000 crore (13%) – smart classrooms, scholarships, digital learning.
   • Agriculture & Rural Development: ₹89,353 crore (11%) – farmer welfare, irrigation, water conservation.
   • Healthcare: ₹50,550 crore (6%) – free medical treatment, new medical colleges, AIIMS expansions.
   • Social Welfare & Women Empowerment: ₹7,980 crore – mass marriage scheme, pension for widows.
3. Key Initiatives
   • New Expressways & Smart Cities – Expansion of urban and transport infrastructure.
   • AI & Cybersecurity – Development of an AI City & Cybersecurity Research Park.
   • Free LPG (Ujjwala Scheme) – Two free LPG cylinders per family.
   • Ambedkar Memorial – Construction of Baba Saheb Bhimrao Ambedkar Memorial in Lucknow.
4. Economic Growth Vision
   • Target: Making Uttar Pradesh a $1 trillion economy.
   • GDP Growth: Increased from ₹12.89 lakh crore (2017-18) to ₹27.51 lakh crore (2024-25).
5. Strategic Development Focus
   • Key areas: Trade, Tourism, Technology, Tradition, Talent to drive economic transformation.

About Uttar Pradesh:

• Chief Minister: Yogi Adityanath
• Governor: Anandiben Patel
• Capital: Lucknow
• National Parks: Dudhwa National Park
• Wildlife Sanctuaries: Katarniaghat Wildlife Sanctuary, Kaimoor Wildlife Sanctuary, Nawabganj Bird Sanctuary (Shahid Chandra Shekhar Azad Bird Sanctuary), Hastinapur Wildlife Sanctuary, Sur Sarovar Bird Sanctuary, Chandraprabha Wildlife Sanctuary, Mahavir Swami Wildlife Sanctuary, Ranipur Wildlife

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Institute of Economic Growth Announces Professor Sabyasachi Kar as Its New Director

• Professor Sabyasachi Kar has been appointed as the Director of the Institute of Economic Growth (IEG), New Delhi, effective February 6, 2025.
• He succeeds Professor Chetan Ghate.

About Sabyasachi Kar:

• Kar currently serves as the Reserve Bank of India (RBI) Chair Professor at IEG.
• He is a member of the Ministry of Statistics and Programme Implementation’s (MoSPI) Committee on Regional Accounts.
• Previously, he has held roles such as co-editor of the Journal of South Asian Development and Honorary Senior Research Fellow at the University of Manchester.
• He holds a PhD in Economics from Jawaharlal Nehru University (JNU).
• His research interests include macroeconomics, economic growth, development economics, and political economy.
• He has published numerous academic articles in national and international journals and edited volumes.
• Notable books authored by him:
  • ‘Macroeconomic Reforms, Growth and Stability’
  • ‘Economic Challenges for the Contemporary World’
  • ‘The Political Economy of India’s Growth Episodes’
• He has collaborated with key policy institutions such as:
  • The erstwhile Planning Commission and NITI Aayog, providing macroeconomic projections and policy inputs.
  • Global organisations like the World Bank, Global Development Network (GDN), European Commission, and the UK’s Department for International Development (DFID).

About Institute of Economic Growth:

• Location : New Delhi, India
• Institute of Economic Growth (IEG) is a premier research and training centre in India.
• The Institute of Economic Growth (IEG), located in New Delhi, India, is a premier research institution dedicated to the study of economic development, policy analysis, and social change.
• The IEG has played a pivotal role in shaping economic thought and policy in India.
• IEG also provides induction training for Indian Economic Service officers.

Former Credit Suisse Executive V. Anantha Nageswaran extended Chief Economic Adviser for 2 years

• The government has extended the tenure of Chief Economic Adviser (CEA) V Anantha Nageswaran by more than two years until March 31, 2027.
• This extension virtually rules him out as a contender for the post of Reserve Bank of India (RBI) Deputy Governor, a role for which he was recently interviewed.

Key Highlights:

• Michael Patra, the former RBI Deputy Governor in charge of monetary policy, retired in January, 2025.
• Nageswaran has recently advocated for a change in the RBI’s inflation target to exclude food prices.
• His first term as CEA was for three years until January 2025.
• The CEA's office is responsible for:
  • Advising the government on various economic policies.
  • Drafting the Economic Survey, which is presented in Parliament a day before the Union Budget.
• Nageswaran’s background:
  • Academic and former executive with Credit Suisse Group AG and Julius Baer Group.
  • Succeeded K V Subramanian as CEA.
• His extension follows the Economic Survey 2024-25, which projected India’s GDP growth at 6.3-6.8% for the next financial year amid signs of economic moderation.

Kotak Mahindra Bank Announces Senior-Level Appointments in Leadership Overhaul

• Kotak Mahindra Bank has announced senior-level appointments, with Vyomesh Kapasi moving to head products in the consumer bank.
• Shahrukh Todiwala has been elevated to replace Kapasi as the head of Kotak Mahindra Prime.
• Chinese Wok, India's largest quick service restaurant chain specializing in Chinese cuisine, plans to add 25 outlets in East India as part of its expansion.
• The company aims to increase revenues to ₹1,000 crore after closing FY25’s March quarter with an annual revenue of ₹650 crore.
• The expansion is part of Chinese Wok’s broader strategy to strengthen its presence in India’s fast-growing QSR market.

National Institution for Transforming India (NITI) Aayog Chief Executive Officer BVR Subrahmanyam’s term extended beyond February 24, 2025

• The central government has extended NITI Aayog CEO BVR Subrahmanyam’s term by a year, beyond February 24, 2025, or until further orders.
• This announcement was made by the Secretariat of the Appointments Committee of the Cabinet under the Ministry of Personnel, Public Grievances and Pensions. 

About BVR Subrahmanyam:

• Subrahmanyam joined the CEO of NITI Aayog—the government's top policy think-tank—on February 25, 2023.
• Subrahmanyam is a 1987-batch IAS officer (Chhattisgarh cadre) and has held key positions in Madhya Pradesh, Chhattisgarh, Jammu & Kashmir, and the World Bank.
• He has served as Secretary in the Ministry of Commerce & Industry, Chief Secretary of J&K, and Principal Secretary in Chhattisgarh, besides holding positions in the Prime Minister’s Office (PMO).

About NITI Aayog:

• The National Institution for Transforming India (NITI Aayog) is a government agency that advises the central and state governments of India.
• It was established on January 1, 2015.
• Functions of NITI Aayog – The organization focuses on national development planning, innovation, policy evaluation, and addressing inter-sectoral issues, while also ensuring national security interests in economic policies.
• Chairperson: Narendra Modi
• Vice chairperson: Suman Bery
• CEO: BVR Subrahmanyam

CURRENT AFFAIRS: DEFENCE NEWS

Defence ministry inks ₹1,220 crore contract with Bharat Electronics Limited for Coast Guard radios

• The Ministry of Defence signed a ₹1,220.12 crore contract with Bharat Electronics Limited (BEL) for 149 Software Defined Radios for the Indian Coast Guard.
• The contract falls under the ‘Buy (Indian-IDDM)’ category, supporting domestic defence manufacturing.
• The radios will enhance secure data sharing, high-speed voice communication, and situational awareness.
• The equipment will strengthen the Coast Guard’s maritime law enforcement, search and rescue, fisheries protection, and marine environment protection
• These radios will improve interoperability for joint operations with the Indian Navy.
• The deal aligns with the ‘Aatmanirbhar Bharat’ initiative, promoting indigenous military-grade communication systems and creating employment opportunities.

Previous MOUs Signed:

• Recently, the Ministry of Defence signed ₹10,147 crore worth of contracts with Economic Explosives Limited (EEL), Munitions India Limited (MIL), and BEL for PINAKA Multiple Launch Rocket System (MLRS)
• EEL and MIL will supply Area Denial Munition (ADM) Type-1 (DPICM) and High Explosive Pre-Fragmented (HEPF) Mk-1 (Enhanced) rockets, while BEL will upgrade the SHAKTI software.
• ADM Type-1 is designed to deploy multiple sub-munitions over a large area, targeting mechanized forces and personnel.
• HEPF Mk-1 (Enhanced) rockets provide extended range and precision for deep-strike operations.
• In January 2025, the Ministry of Defence signed a ₹2,960 crore contract with Bharat Dynamics Limited (BDL) for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy, expected to generate 5 lakh man-days of employment.
• In December 2024, Larsen & Toubro (L&T) secured a ₹7,628.70 crore contract for 155mm/52 calibre K9 Vajra-T self-propelled tracked artillery guns, produced with South Korea’s Hanwha Techwin technology transfer.
• The K9 Vajra-T guns will enhance the Indian Army’s operational readiness in high-altitude regions like Ladakh.
• In November 2024, the Ministry of Defence signed a ₹13,500 crore contract with Hindustan Aeronautics Limited (HAL) for 12 Su-30MKI aircraft, incorporating 6% indigenous content.
• The aircraft will be produced at HAL’s Nasik division, reinforcing India’s defence indigenisation efforts.

Recent News:

• In February 2025, Defence Minister Rajnath Singh announced that 250 Memorandums of Understanding (MoUs) have been signed for the establishment of industrial units in the Defence Industrial Corridors of Uttar Pradesh and Tamil Nadu.

About Ministry of Defence:

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

Defence Ministry inks ₹697 crore contracts with Action Construction Equipment Limited (ACE), JCB India for military equipment

• The Ministry of Defence signed contracts worth ₹697.35 crore with ACE Limited and JCB India Limited for procuring 1,868 Rough Terrain Fork Lift Trucks (RTFLT) for the Indian Army, Indian Air Force, and Indian Navy.
• The contracts were signed in the presence of Defence Secretary R K Singh.

Key Highlights:

• RTFLT is a critical equipment that assists in combat and logistics support by reducing manual handling of stores and enhancing operational effectiveness.
• The procurement falls under the 'Buy (Indian)' category, boosting domestic defence manufacturing and generating employment, benefiting MSMEs.
• The Ministry also signed a ₹1,220.12 crore contract with Bharat Electronics Limited (BEL) for procuring 149 Software Defined Radios (SDRs) for the Indian Coast Guard.
• The SDRs will enhance secure, high-speed data sharing, voice communication, and situational awareness while improving interoperability with the Indian Navy.
• Earlier, the Ministry signed contracts worth ₹10,147 crore with Economic Explosives Limited (EEL), Munitions India Limited (MIL), and BEL for advanced rockets and software upgrades for the PINAKA Multiple Launch Rocket System (MLRS).
• EEL and MIL will supply Area Denial Munition (ADM) Type-1 (DPICM) and High Explosive Pre-Fragmented (HEPF) Mk-1 (Enhanced) rockets, while BEL will upgrade the SHAKTI software.
• ADM Type-1 disperses multiple sub-munitions over a large area for targeting mechanized forces, while HEPF Mk-1 (Enhanced) rockets offer extended range and improved precision for deep-strike operations.
• In January,2025 the Ministry signed a ₹2,960 crore deal with Bharat Dynamics Limited (BDL) for Medium-Range Surface-to-Air Missiles (MRSAM) for the Indian Navy, expected to generate 5 lakh man-days of employment in the defence sector.

CURRENT AFFAIRS: APPS & PORTALS

Central Depository Services (India) (CDSL) and National Securities Depository (NSDL) jointly launch unified investor app

• Central Depository Services (India) (CDSL) and National Securities Depository (NSDL) have introduced new features in their investor apps:
  • MyEasi (CDSL)
  • SPEED-e (NSDL)
• The initiative is backed by SEBI to provide a consolidated view of investor holdings across Market Infrastructure Institutions (MIIs).

Key Features of MyEasi & SPEED-e Apps:

• Consolidated Securities View – Investors can see all holdings from CDSL and NSDL on a single dashboard.
• Portfolio Management – Access transaction and holding statements in one place for simplified tracking.
• Market Position Monitoring – Investors can track open positions and margin details across stock exchanges and clearing corporations.
• Single-Login System – Provides seamless access to all services.
• Enhanced Security – Two-factor authentication ensures data protection.
• Multi-Platform Access – Available on Web, iOS, and Android for better accessibility.

About CDSL :

• Headquarters : Mumbai, Maharashtra
• MD & CEO : Nehal Vora

About NSDL :

• Founded : 1996
• Headquarters : Mumbai, Maharashtra, India
• MD & CEO : Mr. Vijay Chandok

CURRENT AFFAIRS: AWARDS AND HONOURS

Nagaland Forest Management Project (NFMP) Wins SKOCH Award 2024

• The Nagaland Forest Management Project (NFMP) has been recognized with the prestigious SKOCH Award 2024, honoring its outstanding contributions to national development.
• The award was presented during the 100th SKOCH Summit at the India Habitat Centre, New Delhi.
• Ango Konyak, Deputy Project Director of NFMP, and Wennyei Konyak, Resident Commissioner of Nagaland House in New Delhi, accepted the award on behalf of the Department of Environment, Forests & Climate Change (DEFCC), Government of Nagaland (GoN).
• Supported by the Japan International Cooperation Agency (JICA), the project focuses on forest ecosystem improvement, rehabilitation of jhum (shifting cultivation) areas, and livelihood enhancement through sustainable practices.

Key Highlights of NFMP and SKOCH Award

1. Project Overview

• Objective: Improve forest ecosystems, support income generation, and rehabilitate jhum areas.
• Implementing Agency: DEFCC, Government of Nagaland, with support from JICA.
• Project Duration: 2017–2027.

2. Coverage & Impact

• Total Area Covered: 79,096 hectares under forest interventions.
• Villages Benefited: 185 villages across 11 districts and 22 forest ranges.
• Livelihood Support: Formation of 555 self-help groups for sustainable income generation.
• Key Focus Areas:
  • Sustainable forest management
  • Environmental conservation
  • Community-based livelihood improvements

3. SKOCH Award 2024 Recognition

• Event: 100th SKOCH Summit
• Location: India Habitat Centre, New Delhi
• Significance: The SKOCH Award is one of India’s highest independent honors, recognizing excellence in governance, public service, and social development.

CURRENT AFFAIRS: RANKING AND INDEX

Reliance Rises to 2nd Spot in FutureBrand Index 2024

• Reliance Industries Limited (RIL) has made history by securing the 2 position in the FutureBrand Index 2024, surpassing Apple, Nike, and Microsoft.
• This marks the first time an Indian company has entered the top three of this global ranking, which evaluates companies based on brand perception, consumer trust, and strategic impact rather than financial performance.

Key Highlights

• First Indian Company to rank in the Top 3 of FutureBrand Index
• Ranks Above Apple (#3), Microsoft (#4), and Nike (#6)
• Massive Leap from #13 in 2023 to #2 in 2024
• Samsung Takes #1 Spot, Reliance Outperforms Global Giants
• Significant APAC & Middle East Rise, Reducing US Brand Dominance

FutureBrand Index 2024 – Top 10 Rankings

How Did Reliance Achieve This Milestone?

• Rapid Growth & Expansion: Presence across energy, telecom, and retail
• Strong Consumer Trust & Market Influence
• Major Investments in green energy, digital services, and retail
• Global Brand Recognition backed by strategic innovation
• Diversification & Adaptability in a fast-evolving market

Global Shift in Brand Rankings

• US Brand Dominance Declining: Only 4 US brands in the top 10 (down from 7 in 2014)
• Rise of APAC & Middle Eastern Brands: Companies from India, South Korea, Japan, and Saudi Arabia are now global leaders
• India’s Growing Corporate Influence: Reliance's success signals India’s emergence as a global business powerhouse

Sector-Wise Performance in 2024

Recent news

• In Feb 2025, Reliance New Energy Battery Limited, a subsidiary of Reliance Industries Limited, secured a 10 gigawatt-hour (GWh) capacity under the Production Linked Incentive (PLI) Scheme for Advanced Chemistry Cell (ACC) Battery Storage.
• In Feb 2025, Reliance Consumer Products Ltd (RCPL), the FMCG arm of Reliance Industries, entered the sports hydration drink segment with its new brand, Spinner.

Top 10 Wealthiest Women in the World (2025):

• According to the Forbes Billionaire List 2024, women now constitute 3% of the global billionaire population, with the top 10 wealthiest women collectively amassing over $500 billion.
• From business moguls to industry pioneers, these women are reshaping financial power dynamics, proving that wealth isn’t just about numbers—it’s about innovation, leadership, and impact.

Top 10 Richest Women in the World (2025)

Major Highlights

• Alice Walton Tops the List: Walmart heiress Alice Walton reclaims the 1 spot, surpassing L’Oréal’s Françoise Bettencourt Meyers, who had held the position for four years.
• New Entrants: Marilyn Simons joins the list after inheriting wealth from her late husband, hedge fund legend Jim Simons.
• India’s Richest Woman: Savitri Jindal & Family ranks 7th globally, making her the wealthiest woman in India with a net worth of $32.3 billion.
• Legacy & Business Power: Many on the list are heiresses to family fortunes, but several, like MacKenzie Scott and Abigail Johnson, have built strong business and philanthropic legacies.

CURRENT AFFAIRS: SPORTS NEWS

Indian pacer Mohammed Shami Creates History: Fastest Indian to 200 ODI Wickets & More

• Indian pacer Mohammed Shami has cemented his place in cricket history by becoming the fastest Indian to reach 200 ODI wickets during the India vs Bangladesh clash in the ICC Champions Trophy 2025 in Dubai.
• He surpassed Ajit Agarkar’s record (133 matches) by achieving the feat in just 110 matches.
• On the global stage, Shami equaled Pakistan’s Saqlain Mushtaq as the joint second-fastest to reach this milestone, trailing only Mitchell Starc (102 matches).
• Additionally, he became India’s highest wicket-taker in ICC ODI tournaments with 60 wickets in 19 matches, surpassing Zaheer Khan’s 59 wickets.

Key Highlights of Shami’s Milestone

1. Fastest Indian to 200 ODI Wickets

• Achieved 200 ODI wickets in 110 matches, surpassing Ajit Agarkar’s record (133 matches).
• Became the eighth Indian bowler to reach this milestone.
• Joint second fastest globally, alongside Saqlain Mushtaq (110 matches).
• Only Mitchell Starc (102 matches) has reached the mark faster.

2. Record-Breaking Performance in ICC ODI Events

• Became India’s highest wicket-taker in ICC ODI tournaments with 60 wickets in 19 matches.
• Surpassed Zaheer Khan’s record (59 wickets in ICC ODI events).
• Holds the best strike rate (15.5) in ICC ODI tournaments among bowlers with at least 50 wickets.
• Took a five-wicket haul in the match against Bangladesh.

Rohit Sharma Becomes Second Fastest to 11,000 ODI Runs

• Indian cricket captain Rohit Sharma achieved a historic milestone by becoming the second fastest batsman to reach 11,000 runs in One-Day Internationals (ODIs).
• He accomplished this feat during India’s Champions Trophy 2025 match against Bangladesh in Dubai on February 20, 2025.
• With this, Rohit became the fourth Indian and the 10th player overall in ODI history to reach this landmark.

Key Highlights

1. Rohit Sharma’s 11,000-Run Milestone

• Achieved 11,000 ODI runs in just 261 innings and 270 matches.
• Became the second fastest to the milestone, only behind Virat Kohli (222 innings).
• Reached the milestone in the fourth over of India’s chase of 229 runs, with a boundary off Mustafizur Rahman over mid-on.
• Fourth Indian cricketer to reach 11,000 runs, after Sachin Tendulkar, Sourav Ganguly, and Virat Kohli.
• Rohit Sharma surpassed legends like Tendulkar, Ponting, and Ganguly in terms of speed to 11,000 runs.
• 10th player overall in ODI cricket history to achieve this feat.

2. Comparison with Other ODI Batting Legends

3. Rohit Sharma’s ODI Career Stats (As of Feb 20, 2025)

• Total ODI Matches Played – 270
• Total ODI Runs Scored – 11,000+
• Batting Average – Nearly 50
• Total Centuries – 32
• Total Half-Centuries – 52
• Total Sixes Hit – 338 (Second highest in ODI history, behind Shahid Afridi’s 351)

4. Position in India’s All-Time ODI Run Scorers

CURRENT AFFAIRS: IMPORTANT DAYS

World Scout Day 2025: 22nd February

• World Scout Dayis celebrated every 22nd February.
• Each year on February 22nd, we honour Robert Baden-birth Powell's anniversary by celebrating World Scout Day.

History:

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

World Thinking Day: 22nd February

• World Thinking Day 2025 is observed on 22nd February.

History

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

Daily CA One- Liner: February 22

• India has made a significant advancement in modernizing its aviation sector by launching the Electronic Personnel License (EPL) for flight crew.
• The Nagaland Forest Management Project (NFMP) has been recognized with the prestigious SKOCH Award 2024, honoring its outstanding contributions to national development
• Reliance Industries Limited (RIL) has made history by securing the 2 position in the FutureBrand Index 2024, surpassing Apple, Nike, and Microsoft
• According to the Forbes Billionaire List 2024, women now constitute 3% of the global billionaire population, with the top 10 wealthiest women collectively amassing over $500 billion
• Indian pacer Mohammed Shami has cemented his place in cricket history by becoming the fastest Indian to reach 200 ODI wickets during the India vs Bangladesh clash in the ICC Champions Trophy 2025 in Dubai
• Indian cricket captain Rohit Sharma achieved a historic milestone by becoming the second fastest batsman to reach 11,000 runs in One-Day Internationals (ODIs).
• Bank lending to NBFCs grew at 7% in 2024, compared to 15% in 2023, reaching ₹16.22 lakh crore as of December 2024, according to RBI data.
• India's economic growth is projected to slow to 4% in 2025, down from 6.6% in 2024, primarily due to new U.S. tariffs and weakening global demand impacting exports, according to a report by Moody's Analytics.
• RBI received bids worth ₹1.87 trillion against the notified amount of ₹40,000 crore at the OMO
• India is projected to become a high-income country by 2047 with a GDP of USD 23-35 trillion, a report by Bain & Company and Nasscom.
• The Uttar Pradesh Budget 2025-26, presented by State Finance Minister Suresh Kumar Khanna on February 20, 2025, has a total outlay of ₹8,08,736 crore. 
• Professor Sabyasachi Kar has been appointed as the Director of the Institute of Economic Growth (IEG), New Delhi, effective February 6, 2025.
• The government has extended the tenure of Chief Economic Adviser (CEA) V Anantha Nageswaran by more than two years until March 31, 2027.
• Kotak Mahindra Bank has announced senior-level appointments, with Vyomesh Kapasi moving to head products in the consumer bank.
• The central government has extended NITI Aayog CEO BVR Subrahmanyam’s term by a year, beyond February 24, 2025, or until further orders.
• The Ministry of Defence signed a ₹1,220.12 crore contract with Bharat Electronics Limited (BEL) for 149 Software Defined Radios for the Indian Coast Guard.
• The Ministry of Defence signed contracts worth ₹697.35 crore with ACE Ltd and JCB India Ltd for procuring 1,868 Rough Terrain Fork Lift Trucks (RTFLT) for the Indian Army, Indian Air Force, and Indian Navy.
• Central Depository Services (India) (CDSL) and National Securities Depository (NSDL) have introduced new features in their investor apps
• World Scout Dayis celebrated every 22nd February.

World Thinking Day 2025 is observed on 22nd February