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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India launches Financial Literacy Week 2025 with a focus on women’s prosperity

• The Reserve Bank of India launched Financial Literacy Week (FLW) 2025.
• The event runs from February 24 to 28, 2025.
• The theme is "Financial Literacy: Women's Prosperity".
• The launch was inaugurated by RBI Governor Sanjay Malhotra.
• The Governor stressed the importance of empowering women for inclusive and sustained economic growth.
• The launch was attended by top management and regional heads of the Reserve Bank, NABARD, and select commercial banks.
• Banks are urged to utilize all channels to promote financial literacy, especially among women.
• RBI has planned multimedia campaigns to increase awareness.
• The initiative aims to promote financial inclusion and gender equality in financial participation.

Recent News:

• In February 2025, Bank lending to NBFCs dropped to a four-year low of 6.7% in 2024, as per RBI data, due to higher risk weights on loans and tighter credit conditions.

About RBI :

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

Reserve Bank of India Revises Prudential Norms For Urban Co-operative Banks

• Reserve Bank of India has revised prudential norms for Urban Co-operative Banks (UCBs) to increase operational flexibility.

Key Highlights:

• UCBs must have at least 50% of their aggregate loans and advances in small-value loans.
• The value of these small-value loans has been increased to not more than Rs 25 lakh or 0.4% of Tier I capital (whichever is higher), up from 0.2%.
• The borrower cap has been increased to Rs 3 crore per borrower from Rs 1 crore earlier, out of the total Tier-I capital.
• UCB boards must periodically review portfolio behavior and quality under different loan-size categories.
• The aggregate exposure of UCBs to residential mortgages (housing loans to individuals) is capped at 25% of total loans and advances.
• Individual housing loan limits have been introduced:
• Tier 1: Rs 60 lakh per dwelling unit.
• Tier 2: Rs 1.4 crore.
• Tier 3: Rs 2 crore.
• Tier 4: Rs 3 crore.
• Aggregate exposure to the real-estate sector (excluding housing loans to individuals) should not exceed 5% of total loans and advances.
• The timeline for provisioning requirements for investment in security receipts has been extended to 2027–28 from 2025–26.
• The reforms aim to strengthen the co-operative banking sector, promoting financial inclusion and supporting rural development.
• Recently the RBI imposed business restrictions on New India Co-operative Bank due to poor governance.

Corporate Profits Grew 15.3% in FY24 Despite Sluggish Sales: Reserve Bank of India Report

• The Reserve Bank of India (RBI) reported that corporate profits grew by 15.3% in FY24, despite slower sales growth of 5.5%, primarily due to cost rationalisation.
• The services sector outperformed manufacturing in both sales and profit growth, reversing the trend from FY23.

Key Highlights:

• Overall corporate profit growth: 15.3% in FY24 (up from 4.2% in FY23)
• Sales growth: Declined to 5.5% in FY24
  • Manufacturing sector: 4.1% (vs. double-digit growth in FY23)
  • Services sector: 6.8%
• Services Sector:
• Profit after tax (PAT) surged 38.1%
• Operating profit grew 15.5%
• Outperformed manufacturing in both sales and profit growth
• Manufacturing Sector:
• Operating profit increased 13.2%
• Profit after tax (PAT) rose 7.6%
• Sales were impacted by declines in:
  • Metals & metal products
  • Chemicals & pharmaceuticals
  • Coke & refined petroleum products
• Operating expenses grew 3.4% due to slower growth in manufacturing costs
• Employee remuneration growth slowed across both manufacturing and services
• Cost rationalisation played a crucial role in boosting profitability
• Despite slower sales growth, companies achieved higher profits through cost management and operational efficiencies.
• The services sector emerged as the key driver of growth, while manufacturing struggled due to sectoral contractions.
• The RBI report is based on audited financial data from 6,955 non-government, non-financial public companies for FY22 to FY24, sourced from the Ministry of Corporate Affairs.

CURRENT AFFAIRS: NATIONAL NEWS

Prime Minister Narendra Modi Inaugurates Global Investors Summit 2025 in Bhopal

• Prime Minister Narendra Modi inaugurated the Global Investors Summit 2025 in Bhopal, unveiling 18 new industrial policies to establish Madhya Pradesh as a premier investment hub.
• The summit attracted top industrialists and global investors, with a strong emphasis on India’s role in global supply chains, particularly in aerospace and manufacturing.
• PM Modi highlighted India’s rapid economic rise, citing positive forecasts from the World Bank, OECD, and the UN.

Presence of Leading Industrialists

The summit saw participation from top business leaders, including:

• Kumar Mangalam Birla (Aditya Birla Group)
• Gautam Adani (Adani Group)
• Nadir Godrej (Godrej Industries)
• Piruz Khambatta (Rasna Private Limited)
• Baba N Kalyani (Bharat Forge)
• Rahul Awasthi (Sun Pharmaceuticals)
• Neeraj Akhouri (ACC Limited)

Madhya Pradesh’s Role in India’s Economic Growth

• CM Mohan Yadav reaffirmed commitment to PM Modi’s ‘Viksit Bharat 2047’ vision.
• 100+ foreign delegates from 50+ countries participated.
• 25,000+ investors and entrepreneurs registered for the event.
• MP is emerging as a key industrial hub, attracting global and domestic investments.

Major Investment Sectors in Focus

The summit highlights investment opportunities in:

• Agriculture & Food Processing
• Textiles & Clothing
• Mining
• Information Technology & Renewable Energy
• Urban Development & Tourism
• Semiconductors, Drones & Film Production

Recent news

• Madhya Pradesh has taken a major step in India’s economic landscape by introducing the country’s first dedicated Global Capability Centers (GCC) Policy 2025.

India’s ‘Desh Ka Prakriti Parikshan Abhiyaan’ Secures Five Guinness World Records

• India has set a new global benchmark in holistic healthcare and Ayurveda with the ‘Desh Ka Prakriti Parikshan Abhiyaan’, which secured five Guinness World Records. Led by the National Commission for Indian System of Medicine (NCISM) and supported by the Ministry of Ayush, the campaign concluded its first phase in Mumbai.
• The initiative highlights India's commitment to integrating Ayurveda with public health through mass participation and data-driven healthcare insights.

Guinness World Records Achieved

1. Most pledges received for a health campaign in one week – 6,004,912 pledges (new global record).
2. Most pledges received for a health campaign in one month – 13,892,976 pledges (broke China’s previous record of 58,284).
3. Most pledges received for a health campaign (Overall) – 13,892,976 pledges (surpassing India’s previous record of 569,057).
4. Largest online photo album of people displaying a digital certificate – 62,525 photos (breaking Accenture India’s record of 29,068).
5. Largest online video album of people saying the same sentence – 12,798 videos (exceeding the previous Indian record of 8,992).

Key Dignitaries at the Closing Ceremony

• Shri Prataprao Jadhav – Union Minister of State (Independent Charge) for the Ministry of Ayush.
• Shri Prakash Abitkar – Maharashtra’s Health Minister.
• Vaidya Rajesh Kotecha – Secretary, Ministry of Ayush.
• Vaidya Jayant Devpujar – Chairman, National Commission for Indian System of Medicine (NCISM).
• Richard Williams Stenning – Guinness World Records adjudicator, who officially confirmed the achievements.

Indian government’s premier think tank,NITI Aayog’s Initiative to Transform AIIMS and Enhance Healthcare in India

• NITI Aayog, the Indian government’s premier think tank, has formed a high-level committee to transform AIIMS New Delhi into a world-class institution for medical research and healthcare excellence.
• The panel, led by NITI Aayog member VK Paul, will evaluate existing systems, propose reforms, and set clear timelines for their implementation.
• This initiative aligns with India's broader efforts to enhance healthcare infrastructure, governance, and self-sufficiency.
• In addition to AIIMS reform, NITI Aayog is advancing Universal Health Coverage (UHC) and working on affordable rare disease treatments, partnering with CSEP Research Foundation to study global healthcare models.

Key Highlights of AIIMS Transformation Panel

NITI Aayog’s Initiatives in Universal Health Coverage (UHC)

1. Partnership with CSEP Research Foundation

• Studying global UHC models to develop an India-specific strategy.
• Draft paper on healthcare financing covering:
  • Supply-side financing (strengthening healthcare infrastructure).
  • Demand-side financing (expanding health insurance coverage).
• Goal: Improve accessibility, quality, and affordability of healthcare.
• Government & stakeholder consultations planned to finalize policy recommendations.

Affordable Treatment for Rare Diseases

1. Indigenous Drug Development

• Focus: Providing affordable treatment for rare diseases.
• Breakthroughs:
  • 4 affordable drugs launched, priced at 1/60th to 1/100th of imported alternatives.
  • 4 more drugs in regulatory approval, expected by year-end.
• Impact: Significantly reducing healthcare costs for patients with rare diseases

Recent news

• In February 2025, NITI Aayog has launched a policy report titled ‘Expanding Quality Higher Education through States and State Public Universities’.
• On 6th February 2025, NITI Aayog organized a high-level conclave titled “Towards Viksit Bharat @ 2047: Strengthening Economy, National Security, Global Partnerships, and Law” at Sushma Swaraj Bhawan, New Delhi.

CURRENT AFFAIRS: INTERNATIONAL NEWS

India and Australia Strengthen Space Collaboration Through PRISM (Perspectives on Regulatory Issues in Strategic Markets) 2.0 Dialogue

• India and Australia continue to enhance cooperation in the space sector through strategic discussions aimed at addressing regulatory and market challenges.
• As part of these efforts, SIA-India and SIA-Australia jointly hosted PRISM (Perspectives on Regulatory Issues in Strategic Markets) 2.0 on February 20, 2025.
• The webinar focused on export controls, technology transfer, and R&D cooperation to support industry-level partnerships.

Key Highlights:

• The PRISM initiative, launched by SIA-India, seeks to address trade barriers in strategic sectors such as space and dual-use technologies.
• PRISM 1.0, held in November 2024, concentrated on India-U.S. export control regulations, while PRISM 2.0 aimed to advance India-Australia space collaboration.
• The event featured industry representatives and policymakers, including Vinod Kumar (IN-SPACe), David Gottlieb (Australia’s Department of Foreign Affairs and Trade), Nathan Davis (Austrade), and executives from organizations such as Skyroot Aerospace, Space Machines Company, and Clifford Chance.
• Australia’s involvement in India’s Gaganyaan mission was also highlighted.
• The country is providing tracking and recovery support through its Cocos (Keeling) Islands ground station, assisting with astronaut recovery operations and contingency planning for ascent phase aborts near Australian waters.
• India’s space industry, currently valued at $8.6 billion, is projected to grow at a 16% CAGR to reach $44 billion by 2033.
• The sector has seen significant expansion, with over 190 startups securing more than $300 million in private investment in 2023.
• Australia’s space industry is growing at 7% annually, with its workforce increasing by 30% in the past five years, now comprising 17,000 professionals across more than 600 organizations.
• India and Australia are working to improve export opportunities by addressing regulatory complexities, including compliance with International Traffic in Arms Regulations (ITAR) and Export Administration Regulations (EAR).
• Under the India-Australia Economic Cooperation and Trade Agreement (ECTA), over 96% of Indian exports to Australia receive preferential access, benefiting space-sector components such as satellite hardware and ground station equipment.
• Future priorities for collaboration include mutual certification frameworks, security protocols, and mechanisms for resolving commercial disputes.
• The India-Australia Bilateral Investment Treaty’s annual termination clause was noted as a factor requiring stable investment policies.
• Additional investment programs discussed include the Space Maitri Program, the Australia-India Business Exchange, the Australia-India Strategic Research Fund, and an $18 million allocation for collaborative space projects under the International Space Investment (ISI) Initiative India Project.
• SIA-India plans to expand the PRISM dialogue series to include Japan, France, and Germany, leading up to a QUAD-focused session at the India Space Congress 2025, scheduled for June 25-27.

CURRENT AFFAIRS: STATE NEWS

Datia Becomes Madhya Pradesh's 8th Airport, Receives Directorate General of Civil Aviation License

• Datia Airport has received a license as a public aerodrome from the Directorate General of Civil Aviation (DGCA).
• It is classified under the 3C/VFR category.
• Datia Airport is now the 8th public aerodrome airport in Madhya Pradesh.
• The airport spans 118 acres.
• The runway is 1,810 meters long and 30 meters wide.
• The terminal building covers 768 square meters.
• Passenger handling capacity is 100 passengers per hour.
• The apron can accommodate two ATR-72 aircraft.
• The airport is equipped with modern security systems, including:
• X-ray machines (RB & HB)
• ETD
• CCTV systems
• DFMD (Door Frame Metal Detector)
• HHMD (Handheld Metal Detector)
• Walkie-talkies
• RT (Radiotelephony) sets
• Baggage handling system.

About Madhya Pradesh:

• Chief Minister: Mohan Yadav
• Governor: Mangubhai Chhaganbhai Patel
• Capital: Bhopal
• National Parks: Kanha National Park, Bandhavgarh National Park, Pench National Park, Panna National Park.
• Wildlife Sanctuaries: Bori Wildlife Sanctuary, Gandhi Sagar Wildlife Sanctuary, Ken Gharial Sanctuary, Kuno Wildlife Sanctuary.

West Bengal gets eastern India’s 1st astronomical observatory

• The Satyendra Nath Bose National Centre for Basic Sciences has inaugurated Eastern India's first astronomical observatory atop Panchet Hill in the Garpanchkot area of Purulia district, West Bengal.
• This facility, named after the renowned physicist Satyendra Nath Bose, is the 6th such observatory in India, joining others in Ladakh, Nainital, Mount Abu, Girbani Hills, and Kavalur.
• The observatory, established on a 4.9-acre site, began construction in 2012 and is situated at an elevation of 600 meters above sea level.
• It currently houses a 14-inch diameter telescope, with plans to install a 1-meter diameter telescope in the near future.
• The location's minimal light pollution and clear skies from November to April make it ideal for astronomical observations.
• In collaboration with Sidhu Kanu Birsa University, the observatory will facilitate research in astronomy, astrophysics, and atmospheric sciences.
• An automatic weather forecast center has also been established on-site to monitor rainfall, temperature, and wind speed, providing valuable data for both meteorological studies and observational planning.
• This state-of-the-art facility is poised to advance scientific research in the region, offering students and researchers unparalleled opportunities to engage in cutting-edge space science studies.

About West Bengal:

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

Madhya Pradesh State with the Highest Vulture Population in India

• Madhya Pradesh has recorded the highest vulture population in India.
• The recent state-level vulture census conducted by the Forest Department counted 12,981 vultures.

Key Highlights:

Vulture Population Growth in Madhya Pradesh:

• 2019 Census: 8,397 vultures
• 2024 Census: 10,845 vultures
• 2025 Census: 12,981 vultures (significant increase)

Census Coverage:

• Conducted across 16 circles, 64 divisions, and 9 protected areas in the state.
• The census began in 2016 and has shown a consistent rise in vulture numbers.

Vulture Species in Madhya Pradesh:

• Total species: 7
  • Local species: 4
  • Migratory species: 3

Ideal Season for Vulture Census:

• The winter season is preferred for counting vultures.
• Both local and migratory vultures are more easily spotted during this time.

CURRENT AFFAIRS: AWARDS AND HONOURS

Founder and chairman of Bharti Enterprises, Sunil Bharti Mittal Awarded Honorary Knighthood (KBE) for India-UK Business Contributions

• Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, has been awarded an Honorary Knighthood (KBE) for his remarkable contributions to India-UK business relations.
• He received the Knight Commander of the Most Excellent Order of the British Empire (KBE) at a special investiture ceremony held at the British High Commissioner’s residence in New Delhi.
• This prestigious honor, conferred under King Charles III, makes him the first Indian citizen to receive it during the new monarch’s reign.

Key Highlights

Contributions to India-UK Relations

• Business Expansion in the UK:
  • Airtel Africa is listed on the London Stock Exchange (FTSE 100 Index).
  • Eutelsat OneWeb, a satellite broadband company, operates from London.
• Leadership in Trade Relations:
  • Key contributor to the India-UK CEO Forum, fostering economic partnerships.
  • Led an Indian business delegation to meet UK Prime Minister Keir Starmer and senior officials.

Academic & Advisory Roles

• Honorary Doctorates:
  • Doctor of Civil Law from Newcastle University
  • Doctor of Laws from the University of Leeds
• Influential Positions:
  • Vice-Chancellor’s Circle of Advisors, University of Cambridge
  • Former Governing Body Member, London Business School (LBS)
  • Member, India Advisory Group at LSE

Recognitions & Achievements

• Padma Bhushan Awardee (2007): Honored for his contributions to Indian industry.
• Driving India-UK Business Engagement: Actively involved in high-level dialogues and investments.

Notable Indians Previously Honored with KBE

• Jamshed Irani (1997) – Former Tata Steel Director
• Ravi Shankar (2001) – Legendary sitar maestro
• Ratan Tata (2009) – Former Tata Sons Chairman

‘Conclave’ Triumphs at SAG Awards, Timothée Chalamet Wins Best Actor, Shaking Up Oscar Predictions

• The 31st Screen Actors Guild (SAG) Awards delivered major surprises, with the papal thriller Conclave winning Best Ensemble Cast, the night’s top honor.
• The victory disrupted the awards season momentum, as Anora had previously dominated wins at the Producers, Directors, and Writers Guild Awards.

Key Highlights

• In a shocking turn, Timothée Chalamet took home Best Actor for his portrayal of Bob Dylan in A Complete Unknown, breaking the season-long streak of Adrien Brody (The Brutalist).
• Meanwhile, Demi Moore won Best Actress for The Substance, edging out frontrunner Emma Stone (Poor Things).

Key Takeaways from SAG 2025:

🏆 Best Ensemble Cast (Top Film Prize): Conclave
🏆 Best Actor: Timothée Chalamet (A Complete Unknown)
🏆 Best Actress: Demi Moore (The Substance)

IIMCAA Awards 2025: Neelesh Misra & Anshu Gupta Named ‘Alumni of the Year’

• The 9th edition of the IIMC Alumni Association Awards was held in New Delhi, celebrating excellence in journalism, public service, and media.
• As part of the Silver Jubilee celebrations, around 80 alumni who graduated 25 years ago were honored for their lasting contributions.

Key Highlights:

IIMCAA Awards 2025 Winners List:

Category	Winner(s)
Alumni of the Year	Neelesh Misra (Writer-lyricist)
	Anshu Gupta (Founder, NGO ‘Goonj’)
Journalist of the Year	Sarvapriya Sangwan (BBC Hindi)
Lifetime Achievement Award	Prof Ashok Ogra (Delhi)
	Jahnabi Phookan (Guwahati)
	Sujata Sabnis (Pune)
	Prof Shambhu Nath Singh (Tezpur)
	Dr Medini Prasad Roy (Delhi)
Public Service Award	Jamshedpur SSP Kishor Kaushal
	Social Worker Aditya Vardhan (Gaya)
Connecting Alumni of the Year	Ketan Tanna (Maharashtra)
	Sudhansu Kumar Patro (Odisha)
	Marinder Mishra (Uttar Pradesh)
Connecting Chapter of the Year	IIMCAA Gujarat Committee
Pillars of IIMCAA Award	Santosh Kumar Valmeeki (Uttar Pradesh)
	Kalyan Ranjan & Nitin Pradhan (Delhi)
	Alice Guram (Punjab)
	Braj Kishore & Krishna Pophale (Maharashtra)
	Byomakesh Biswal (Odisha)

Jury Category Winners

• Cash prizes ranging from ₹50,000 to ₹1.50 lakh were awarded.

Category	Winner(s)
Agriculture Reporter of the Year	Sarvapriya Sangwan & Pallav Jain
Reporter of the Year (Publishing)	Sandeep Rajwade
Reporter of the Year (Broadcasting)	Ajatika Singh
Producer of the Year	Harshita Rathore
Indian Language Reporter of the Year (Publishing)	R Samban
Indian Language Reporter of the Year (Broadcast)	Anuj Kumar Das
AD Person of the Year	Pankaj Bora
PR Person of the Year	Ashish Shukla
PR Agency of the Year	Avian WE
Digital Agency of the Year	Kaizzen

CURRENT AFFAIRS: MOUS AND AGREEMENT

Bisleri Partners with Archaeological Survey of India for Heritage Water Conservation Under ‘Adopt a Heritage 2.0’

• Bisleri International has signed a Memorandum of Understanding (MoU) with the Archaeological Survey of India (ASI) under the ‘Adopt a Heritage 2.0 Programme’ to restore and conserve historic water bodies at heritage sites across India.
• This initiative is part of Bisleri’s CSR program, ‘Nayi Umeed,’ which focuses on sustainable water conservation and heritage preservation.
• The project aims to revive four key historic water bodies in its initial phase, ensuring ecological restoration and improved tourism experiences.

Key Highlights of the Initiative

1. Partnership & Objectives

• MoU Signed Between: Bisleri International & ASI
• Program: ‘Adopt a Heritage 2.0 Programme’
• Focus: Conservation of historic water bodies at heritage sites
• CSR Initiative: Part of Bisleri’s ‘Nayi Umeed’ water conservation efforts
• Goal: Sustainable water management while preserving India’s cultural heritage

2. Heritage Water Bodies Chosen for Revival

The first phase of the initiative will focus on four significant historical water bodies:

1. Chand Baori – Abhaneri, Rajasthan
2. Baori at Neemrana – Rajasthan
3. Padma and Rani Talabs – Ranthambore Fort, Rajasthan
4. Budha Budhi Pond – Kalinjar Fort, Uttar Pradesh
5. Restoration & Conservation Plan

The project will follow a phased implementation approach, ensuring minimum disruption to the sites while maintaining structural integrity. The key restoration efforts include:

• Desilting & Cleaning: Removal of debris and accumulated sediments to restore water flow.
• Ecological Revival: Improving biodiversity and water quality to promote natural sustainability.
• Landscaping & Beautification: Enhancing aesthetics for better visitor experiences.
• Informative Signages: Educating tourists and local communities on the historical & environmental significance of these water bodies.

About Bisleri

• Founder: Felice Bisleri
• CEO: Angelo George
• Founded: 1969
• Headquarters: Mumbai, Maharashtra

About ASI

• Founder: Alexander Cunningham
• Director General: Yadubir Singh Rawat
• Headquarters: New Delhi
• ASI, government organization that protects and researches India's cultural heritage. It was established in 1861 and is part of the Ministry of Culture.

Centre for Development of Telematics and IIT Delhi Collaborate for Indigenous 6G THz Communication Development

• In a major step towards developing indigenous hardware for 6G telecommunications, the Centre for Development of Telematics (C-DOT) has signed an agreement with IIT Delhi to develop “Building Blocks for THz Communication Front Ends”.
• This initiative aligns with the Bharat 6G Vision, which aims to design, develop, and deploy next-generation network technologies that ensure intelligent, secure, and high-quality connectivity.

Key Highlights of the Agreement

Objective

• Develop fundamental devices and components essential for THz (terahertz) communication systems for 6G networks.
• Extend THz technology for applications in military communications and material characterization.

Implementation & Collaboration

• Funded under: Telecom Technology Development Fund (TTDF) 6G Call for Proposal, Department of Telecommunications (DoT), Government of India.
• Research & Development by: IIT Delhi, in collaboration with SAMEER Kolkata (Society for Applied Microwave Electronics Engineering and Research).
• Implementing Agency: C-DOT, ensuring end-to-end support in indigenous hardware development.
• Integration with India’s Semiconductor Program: The project will align with India's chip fabrication initiatives, helping scale THz component manufacturing for mass production.

C-DOT and IIT Bombay Collaborate to Develop Optical Transceiver Chipset for 6G Wireless Links

• The Centre for Development of Telematics (C-DOT) has signed an agreement with IIT Bombay to develop an “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.
• This initiative, part of India's Bharat 6G Vision, aims to design, develop, and deploy next-generation 6G technology by 2030, focusing on affordability, sustainability, and ubiquity.

Key Highlights of the Agreement

Objective

• Develop chipsets for high-bandwidth free-space optical links, a key component of 6G communications.
• Enable high-speed connectivity in rural and remote areas where fiber-optic deployment is challenging.
• Provide seamless, high-bandwidth satellite communication for uninterrupted connectivity in difficult terrains.

Implementation & Collaboration

• Funded under: Telecom Technology Development Fund (TTDF) 6G Call for Proposal, Department of Telecommunications (DoT), Government of India.
• Research & Development by: IIT Bombay, focusing on high-bandwidth, free-space optical communication.
• Implementing Agency: C-DOT, responsible for guiding and supporting indigenous 6G technology development.

Ministry of Electronics & Information Technology and Data Security Council of India Launch Cyber Security Grand Challenge 2.0 with Rs. 6.85 Crore Prize Pool

• The Ministry of Electronics & Information Technology (MeitY), in collaboration with the Data Security Council of India (DSCI), has launched the second edition of the Cyber Security Grand Challenge (CSGC 2.0).
• This initiative aims to strengthen India’s cybersecurity ecosystem by promoting innovative solutions in critical areas.

Key Highlights of CSGC 2.0

Objectives & Scope

• Encourages startups, entrepreneurs, and innovators to develop advanced cybersecurity solutions.
• Addresses six major cybersecurity challenges:
  • API Security
  • Data Security
  • Wearable Device Security
  • Fake App Mitigation
  • AI for Threat Detection
  • Biometric Systems Security
• Ensures intellectual property rights (IPR) remain with the startups, allowing commercialization of solutions.

Competition Structure

The challenge consists of four stages:

1. Idea Submission
2. Minimum Viable Product (MVP) Development
3. Final Product Development
4. Go-to-Market Strategy

Prize Distribution

• Total Prize Pool: 6.85 crores (up from Rs. 3.2 crores in the first edition).
• Final Stage Winners (each problem area): 25 lakh.
• Overall Winners:
  • Platinum Winner: 1 crore
  • Gold Winner: 50 lakh
  • Silver Winner: 25 lakh

Comptroller and Auditor General of India (CAG) and the Indian Institute of Technology Madras (IIT Madras) Collaborate for Sustainable Audit

• The Comptroller and Auditor General of India (CAG) and the Indian Institute of Technology Madras (IIT Madras) have signed a Memorandum of Understanding (MoU) to enhance audit skills, leverage AI & ML for sustainable auditing, and improve data analysis capabilities.

Key Highlights:

Focus Areas:

• Data Governance & Security
• Big Data & Digital Infrastructure Readiness
• Advanced Auditing Practices
• Sustainability & Governance
• Academic & Research Collaboration
• Joint R&D Initiatives

Objective:

• Enhance audit effectiveness & efficiency
• Integrate technology-driven governance
• Strengthen digital infrastructure for auditing
• This collaboration aims to modernize auditing techniques and foster innovation in governance using cutting-edge technology.
• Additionally, IIT Madras signed another MoU with the International Centre for Environment Audit and Sustainable Development (iCED), Jaipur to collaborate on capacity building and research in environmental auditing and Environmental, Social, and Governance (ESG) practices.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Friedrich Merz becomes Germany’s Next Chancellor

• Friedrich Merz, leader of Germany’s Christian Democratic Union (CDU), is set to become the country's next chancellor after his party won the national election on February 23, 2025.

Key Highlights:

• Political Background: Despite never holding a government role, Merz has been a longtime figure in German politics and is known for his conservative stance.
• Election Victory: His CDU/CSU bloc secured 28.5% of the vote, making it the largest party in the Bundestag (Germany’s parliament).
• Far-Right Surge: The Alternative for Germany (AfD) party finished second with 20%, its best-ever result.
• Defeat of SPD: The Social Democratic Party (SPD), led by incumbent Chancellor Olaf Scholz, fell to third place.
• Challenges Ahead: As chancellor-in-waiting, Merz will have to navigate Germany’s economic slowdown, diplomatic crises, and the shifting transatlantic geopolitical landscape.
• With Europe in need of strong leadership, Merz’s tenure could mark a significant shift in Germany’s political and economic approach.

Centre reconstitutes Atomic Energy Commission

• The Indian government has reconstituted the Atomic Energy Commission (AEC), incorporating key officials into its leadership.
• T V Somanathan, the newly appointed Cabinet Secretary, and Manoj Govil, the Expenditure Secretary, have been inducted as ex-officio members.
• Pankaj Kumar Mishra, who assumed the role of Member (Finance) last year, continues his tenure on the commission.
• This restructuring was formalized through a notification issued on October 21, 2024, and subsequently published in the Gazette on January 9, 2025.

Other Appointments:

• The reconstituted AEC is chaired by Ajit Kumar Mohanty, Secretary of the Department of Atomic Energy.
• Other notable ex-officio members include National Security Adviser Ajit Doval, Principal Secretary to the Prime Minister Pramod Kumar Mishra, and Foreign Secretary Vikram Misri.
• Additionally, the commission comprises esteemed former officials such as M R Srinivasan and Anil Kakodkar, both former chairpersons of the AEC; P Rama Rao, former Secretary of the Department of Science and Technology; Ravi B Grover, former Principal Adviser of the Department of Atomic Energy; and K Kasturirangan, former Chairman of the Space Commission.
• Vivek Bhasin, Director of the Bhabha Atomic Research Centre, also serves as an ex-officio member.
• Established in August 1948, the AEC is responsible for formulating policies for the Department of Atomic Energy, guiding India's nuclear energy and research initiatives.

Nidhi Khare assumes additional charge as Ministry of New and Renewable Energy (MNRE) secretary

• Nidhi Khare, a 1992-batch Indian Administrative Service (IAS) officer from the Jharkhand cadre, has been assigned the additional role of Secretary for the Ministry of New and Renewable Energy (MNRE) as of January 14, 2025.
• This appointment follows the repatriation of the previous secretary, Prashant Kumar Singh, to his parent cadre in Manipur, where he has assumed the position of Chief Secretary.

Professional Background:

• Department of Consumer Affairs: Prior to her current role, Khare served as the Secretary of the Department of Consumer Affairs, Ministry of Consumer Affairs, Food, and Public Distribution.
• During her tenure, she was instrumental in establishing the Central Consumer Protection Authority (CCPA) and served as its first Chief Commissioner.
• Under her leadership, the CCPA addressed over 240 cases, including significant actions against misleading advertisements and unfair trade practices.
• Direct Benefit Transfers (DBT): As Joint Secretary in the Department of Expenditure, Ministry of Finance, Khare played a pivotal role in conceptualizing and implementing the Direct Benefit Transfers program.
• This initiative streamlined subsidy distribution, ensuring that benefits reached millions directly into their bank accounts, reducing middlemen involvement.
• State-Level Roles: In Jharkhand, she held key positions, including Principal Secretary roles in the Personnel, Health, and Commercial Tax departments.
• Notably, as Principal Secretary of Health and Medical Education, she oversaw the successful rollout of the Ayushman Bharat scheme and facilitated the establishment of 8 new medical colleges in the state.

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

China successfully launches Zhongxing-10R satellite aboard Long March 3B

• China successfully launched the Zhongxing-10R satellite aboard a Long March 3B carrier rocket, strengthening its space-based communication capabilities.
• The launch took place at 8:11 PM Beijing Time (BJT) on February 22, 2025 from the Xichang Satellite Launch Center in Sichuan province.

Key Highlights:

• Designed to provide high-quality satellite communication and data transmission services.
• Supports broadcasting, emergency communication, and secure transmissions.
• Plays a crucial role in China’s expanding space infrastructure.
• A Key Component in China’s Space Program:
• One of China’s most powerful and reliable launch vehicles.
• Frequently used for delivering satellites into geostationary transfer orbit (GTO).
• Integral to commercial, military, and scientific missions.
• Remains a cornerstone of China’s space program.

Google-backed Pixxel launches India’s first cutting-edge hyperspectral satellites

• Bengaluru-based startup Pixxel has successfully launched three high-resolution commercial hyperspectral satellites, part of its ‘Firefly’ constellation, from the Vandenberg Space Force Base in California.
• The satellites were deployed on SpaceX’s Transporter-12 rideshare mission, integrated via Exolaunch.
• A Leap in Hyperspectral Imaging Technology
• Firefly constellation offers six times sharper resolution than existing hyperspectral satellites, achieving an unprecedented five-meter resolution.
• Captures intricate details previously invisible to conventional imaging systems.
• Features advanced sensors capable of capturing data across 150+ spectral bands.
• Enables detection of chemical compositions, vegetation health, water quality, and atmospheric conditions.

Significance for India

• Firefly marks India’s first commercial satellite constellation.
• Pixxel’s technology represents a giant leap in space-based Earth observation.
• Unlike traditional Earth observation satellites, Firefly’s narrowband sensors uncover hidden patterns critical for agriculture and climate action.

Challenges & Future Plans

• Pixxel has over 60 clients, including NASA and the governments of the U.S. and Australia.
• Selling data to the Indian government faces challenges due to procurement regulations requiring at least two bidders—Pixxel currently remains the sole hyperspectral data provider in India.
• The next steps include establishing satellite communication, commissioning components, and calibrating cameras within a month.
• Pixxel plans to expand the Firefly constellation with three more satellites in March 2025.

Hyderabad-based start-up XDLINX Spacelabs to Launch Satellite on SpaceX Transporter-12 Mission

• Hyderabad-based start-up XDLINX Spacelabs is set to launch its ELEVATION-1 technology demonstrator satellite on January 15, 2025 as part of SpaceX’s Transporter-12 mission.
• The launch will take place from Vandenberg Space Force Base, California, alongside satellites from Digantara and Pixxel.
• The ELEVATION-1 satellite was conceptualized, designed, tested, and constructed within just eight months, showcasing XDLINX’s capability for rapid satellite development.
• The satellite represents a significant step in advancing satellite communication technologies. Syed Ahmed, payload scientist at XDLINX, highlighted that this mission demonstrates the company’s ability to execute end-to-end satellite development within a compressed timeframe.
• This launch marks a major milestone for XDLINX, reinforcing its position in India’s evolving space technology landscape.

CURRENT AFFAIRS: SPORTS NEWS

Mohun Bagan Super Giant Wins Second Consecutive ISL Winners Shield

• Mohun Bagan Super Giant made history by securing their second consecutive Indian Super League (ISL) Winners Shield with a dramatic 1-0 victory over Odisha FC at Salt Lake Stadium, Kolkata.
• A last-minute goal by Dimitrios Petratos sealed the win, making them the first team in ISL history to defend the Shield successfully.
• This victory also ensured their direct qualification for the AFC Champions League 2.

How Mohun Bagan Clinched the ISL Winners Shield

• Entered the final league game needing a win to secure the Shield.
• Dimitrios Petratos scored the decisive goal in the 93rd minute with a powerful shot from outside the box.
• Odisha FC reduced to 10 men after Mourtada Fall was sent off in the 82nd minute for a foul on Jamie Maclaren.
• Finished the 2024-25 season with 52 points from 22 matches (16 wins, 4 draws, 2 losses).

What This Win Means for Mohun Bagan’s Legacy

• Seventh National League Title – Strengthening their place as one of India’s most successful football clubs.
• First Team to Defend the ISL Winners Shield – A historic achievement in Indian football.
• Setting New Benchmarks – Demonstrating squad depth, tactical discipline, and elite management.

CURRENT AFFAIRS: BOOKS AND AUTHOR

Namita Gokhale’s Life on Mars: A Literary Exploration of Love, Fate, and Mythology

• Namita Gokhale’s latest book, Life on Mars: Collected Stories, released in January 2025, is a compelling anthology of 15 short stories that delve into themes of love, destiny, and human existence.
• The collection brings together a mix of past works and new narratives, showcasing Gokhale’s evolving perspective on relationships, mythology, and emotions.

Structured into two distinct sections, the book offers a duality in storytelling:

1. "Love and Other Derangements" – Examines the complexities of relationships and human emotions.
2. "The Mirror of the Mahabharata" – Reimagines mythological tales with fresh narratives.

A Reflection of Gokhale’s Literary Journey

Namita Gokhale describes Life on Mars as a mirror to different phases of her writing career. The book demonstrates her signature blend of history, mythology, and contemporary storytelling.

• A standout story features Kunti and Gandhari, both grappling with grief and fate after the Kurukshetra war.
• Another tale reimagines the love story of Nala and Damayanti, uniquely narrated from the perspective of a swan.
• Through these vivid and emotionally layered stories, Gokhale bridges the past and present, reinforcing her literary depth.

Overcoming Challenges in Writing

Despite her breakthrough novel Paro: Dreams of Passion (1984), Gokhale faced a decade of struggle, as publishers dismissed her as a ‘flash in the pan.’

• Turning Point: Omen I (mid-1990s) reignited her writing journey, leading to a resurgence in her career.
• Life on Mars reflects this journey, combining her past successes with new creative insights, reaffirming her enduring relevance in Indian literature.

Evolution of Gokhale’s Storytelling

With 24 books spanning four decades, Gokhale has continuously redefined Indian storytelling. Her works, including Shakuntala, Things to Leave Behind, and Never Never Land, blend humor, satire, and deep introspection.

• Her storytelling resonates across generations, exploring aging, youth, and life’s in-between spaces.
• She challenges traditional formats, making her narratives both timeless and contemporary.

CURRENT AFFAIRS: OBITUARY

Guru Mayadhar Raut, Odissi exponent who helped codify the artform, passed away

• Guru Mayadhar Raut, a pioneering figure in Odissi dance, passed away at 94 in Delhi on February 22.
• His legacy includes systematising Odissi, deep knowledge of Natya Shastra, and serving as head of the Odissi department at Bharatiya Kala Kendra.
• In 1971, when Kamani Auditorium was inaugurated by then President VV Giri, Raut was chosen for the opening performance, marking a significant cultural moment.
• However, his eviction in 2022 from his Asiad Village home, allotted to him in the 1980s, became a stark contrast to his contributions, as he and his daughter, Odissi teacher Madhumita, had to move to a student’s basement.

About Guru Mayadhar Raut:

• Born in Kantapanhara, Cuttack, Raut’s dance journey began at nine years old with Gotipua, a dance form linked to the Devadasi tradition.
• He trained under Guru Pankaj Charan Das and later learned Natya Shastra at Kalakshetra, Chennai.
• The term Odissi was formally coined in 1948 by Kalicharan Patnaik, under whom Raut trained.
• In 1952, he began teaching at Kala Vikas Kendra, India’s first institute for Odissi, alongside Kelucharan Mohapatra.
• He co-founded Jaynatika, an initiative to standardise Odissi mudras and align the dance form with Shastric principles, crucial in earning Odissi its classical status.
• Moving to Delhi in 1969, Raut trained many leading Odissi dancers, including Ranjana Gauhar, Kiren Segal, Aloka Panikar, and Vanashree Rao.
• His immense contributions continue to shape Odissi as a classical dance form.

Daily CA One- Liner: February 26

• Prime Minister Narendra Modi inaugurated the Global Investors Summit 2025 in Bhopal, unveiling 18 new industrial policies to establish Madhya Pradesh as a premier investment hub
• India has set a new global benchmark in holistic healthcare and Ayurveda with the ‘Desh Ka Prakriti Parikshan Abhiyaan’, which secured five Guinness World Records. Led by the National Commission for Indian System of Medicine (NCISM) and supported by the Ministry of Ayush, the campaign concluded its first phase in Mumbai.
• NITI Aayog, the Indian government’s premier think tank, has formed a high-level committee to transform AIIMS New Delhi into a world-class institution for medical research and healthcare excellence
• Sunil Bharti Mittal, founder and chairman of Bharti Enterprises, has been awarded an Honorary Knighthood (KBE) for his remarkable contributions to India-UK business relations
• Bisleri International has signed a Memorandum of Understanding (MoU) with the Archaeological Survey of India (ASI) under the ‘Adopt a Heritage 2.0 Programme’ to restore and conserve historic water bodies at heritage sites across India
• In a major step towards developing indigenous hardware for 6G telecommunications, the Centre for Development of Telematics (C-DOT) has signed an agreement with IIT Delhi to develop “Building Blocks for THz Communication Front Ends”.
• The Centre for Development of Telematics (C-DOT) has signed an agreement with IIT Bombay to develop an “Optical Transceiver Chipset for High-Bandwidth 6G Wireless Links”.
• The Ministry of Electronics & Information Technology (MeitY), in collaboration with the Data Security Council of India (DSCI), has launched the second edition of the Cyber Security Grand Challenge.
• Mohun Bagan Super Giant made history by securing their second consecutive Indian Super League (ISL) Winners Shield with a dramatic 1-0 victory over Odisha FC at Salt Lake Stadium, Kolkata
• Namita Gokhale’s latest book, Life on Mars: Collected Stories, released in January 2025, is a compelling anthology of 15 short stories that delve into themes of love, destiny, and human existence
• The 31st Screen Actors Guild (SAG) Awards delivered major surprises, with the papal thriller Conclave winning Best Ensemble Cast, the night’s top honor.
• The 9th edition of the IIMC Alumni Association Awards was held in New Delhi, celebrating excellence in journalism, public service, and media
• The Comptroller and Auditor General of India (CAG) and the Indian Institute of Technology Madras (IIT Madras) have signed a Memorandum of Understanding (MoU) to enhance audit skills, leverage AI & ML for sustainable auditing, and improve data analysis capabilities
• The Reserve Bank of India launched Financial Literacy Week (FLW) 2025. The event runs from February 24 to 28, 2025.
• Reserve Bank of India has revised prudential norms for Urban Co-operative Banks (UCBs) to increase operational flexibility.
• The Reserve Bank of India (RBI) reported that corporate profits grew by 15.3% in FY24, despite slower sales growth of 5.5%, primarily due to cost rationalisation.
• India and Australia continue to enhance cooperation in the space sector through strategic discussions aimed at addressing regulatory and market challenges.
• Datia Airport has received a license as a public aerodrome from the Directorate General of Civil Aviation (DGCA).
• The Satyendra Nath Bose National Centre for Basic Sciences has inaugurated Eastern India's first astronomical observatory atop Panchet Hill in the Garpanchkot area of Purulia district, West Bengal.
• Madhya Pradesh has recorded the highest vulture population in India.
• Friedrich Merz, leader of Germany’s Christian Democratic Union (CDU), is set to become the country's next chancellor after his party won the national election on February 23, 2025.
• The Indian government has reconstituted the Atomic Energy Commission (AEC), inducting T V Somanathan, the newly appointed Cabinet Secretary, and Manoj Govil, the Expenditure Secretary, as ex-officio members.
• Nidhi Khare, a 1992-batch Indian Administrative Service (IAS) officer from the Jharkhand cadre, has been assigned the additional role of Secretary for the Ministry of New and Renewable Energy (MNRE) as of January 14, 2025.
• China successfully launched the Zhongxing-10R satellite aboard a Long March 3B carrier rocket, strengthening its space-based communication capabilities.
• Bengaluru-based startup Pixxel has successfully launched three high-resolution commercial hyperspectral satellites, part of its ‘Firefly’ constellation, from the Vandenberg Space Force Base in California.
• Hyderabad-based start-up XDLINX Spacelabs is set to launch its ELEVATION-1 technology demonstrator satellite on January 15, 2025 as part of SpaceX’s Transporter-12 mission.
• Guru Mayadhar Raut, a pioneering figure in Odissi dance, passed away at 94 in Delhi on February 22.