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CURRENT AFFAIRS: BANKING & FINANCE

Reserve Bank of India frees up bank capital with Non Banking Financial Companies risk weight rollback

• The Reserve Bank of India (RBI) has reversed its decision to increase risk weights for bank loans to Non Banking Financial Companies, effective April 1, 2025.
• This move will lead to a substantial capital release for banks, improving credit flow to NBFCs.
• Risk weights for microloans by banks have been revised to 75% or 100%, depending on the nature of the loan, instead of 125%.
• The November 16, 2023 decision had increased risk weights by 25 percentage points for loans to AAA-, AA-, and A-rated NBFCs if their risk weight was below 100%.
• This led to a sharp decline in bank loans to NBFCs, with year-on-year loan growth falling from 15% to 6.7% by December 2024.
• Overall bank credit growth also slowed, dropping from 20% to 11.2% in the same period.
• Microfinance impact:
• 75% risk weight for regulatory retail/business loans.
• 100% risk weight for consumer credit loans.
• Previously, both categories had 125% risk weight, creating confusion among banks.

Recent News:

• In February 2025, The Reserve Bank of India (RBI) raised the small-value loan limit for Urban Co-operative Banks (UCBs) to ₹3 crore per borrower.

About RBI :

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

IndusInd Bank partners with Professional Golf Tour of India as its Official Banking Partner

• IndusInd Bank has partnered with the Professional Golf Tour of India (PGTI) as its official Banking Partner, reinforcing its commitment to providing a premium experience to Ultra High Net Worth Individuals (UHNIs) & High Net Worth Individuals (HNIs) under its PIONEER banking
• This collaboration aligns with the bank’s strategy of offering value-added services tailored to customers' lifestyles, particularly in sports.
• As the exclusive Banking Partner, IndusInd Bank will actively support PGTI events throughout the tournament, contributing to the expansion of golf and strengthening India's professional golfing landscape.
• The PGTI tour, led by Kapil Dev (President) and Amandeep Johl (CEO), features over 20 tournaments annually, with PIONEER customers getting opportunities to participate in various engagement activities across tournament cities.
• The PIONEER banking program provides a comprehensive range of full-stack banking and wealth management solutions for UHNI and HNI customers, covering personal banking, business banking, wealth management, and NRI banking.
• Its wealth management solutions offer mutual funds, alternative products, sovereign gold bonds, and NPS, along with legacy planning services.
• The program also includes exclusive credit and debit card benefits, with select golf lessons for PIONEER credit cardholders catering to golf enthusiasts.
• Beyond lifestyle banking, IndusInd Bank is dedicated to promoting sports in India through its ‘IndusInd For Sports’ initiative, launched in 2016.
• This initiative focuses on diversity, differentiation, and dominance in sports development, benefiting customers, employees, and the community.
• The PGTI partnership is an extension of this vision, reflecting the bank’s ongoing commitment to supporting professional sports in India.

About IndusInd Bank:

• Headquarters: Mumbai, Maharashtra, India
• CEO: Sumant Kathpalia
• Founded Year: 1994
• Slogan: "We Make You Feel Richer"

Small Industries Development Bank of India signs MoU with Tata Capital Limited to strengthen financing avenues for MSMEs

• Apex regulatory body for overall licensing and regulation of micro, small and medium enterprise finance companies in India, The Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) have signed an MoU for a "Partnership for financing MSMEs," aiming to enhance funding opportunities for the Micro, Small, and Medium Enterprise (MSME) sector.
• Focus on providing financial support for machinery/equipment financing, working capital, business loans, and loans against property.
• Exploration of risk-sharing, co-lending, and joint financing to improve credit access for MSMEs.
• MoU signed by Vivek Kumar Malhotra, Chief General Manager, SIDBI, and Vivek Chopra, Chief Operating Officer, Retail Finance, TCL, in the presence of senior officials from both organizations.

About Small Industries Development Bank of India (SIDBI):

• It is an All India Development Financial Institution (DFI) focused on financing and developing Micro, Small, and Medium Enterprises (MSMEs) in India.
• Headquarters: Lucknow, Uttar Pradesh
• Founded: April 2, 1990, by the Government of India
• Chairman & Managing Director: Shri Manoj Mittal
• It operates through:
• Indirect Lending: Expanding MSME financing through financial intermediaries.
• Direct Lending: Bridging credit gaps in the MSME sector.
• Fund of Funds: Supporting startups and entrepreneurship development.
• Promotion & Development: Assisting budding entrepreneurs through credit-plus initiatives.
• Facilitator: Acting as the nodal agency for MSME-oriented government schemes.

South Indian Bank Enhances Customer Convenience with ‘SIB QUICKPL’ for Loans & ‘SIB Quick FD’ for Deposits

• South Indian Bank (SIB) has introduced “SIB QUICKPL”, a digital personal loan platform designed for new customers, making personal financing faster and more accessible.

Key Features of SIB QUICKPL:

• Available for salaried and self-employed individuals with good credit profiles.
• Fully digital and paperless process—loan approval in just 10 minutes.
• Funds credited directly to a savings account in any bank across India.
• No document uploads required, as the platform integrates with the Income Tax portal and leverages the Account Aggregator framework for seamless verification.
• Customers can apply via SIB QUICKPL Portal.

SIB Quick FD – Digital Fixed Deposit Service

• In addition to digital personal loans, South Indian Bank has launched 'SIB Quick FD', a new variant that allows customers to open Fixed Deposits (FDs) digitally using funds from other bank accounts via UPI.

Key Features of SIB Quick FD:

• Seamless FD booking with funds from any bank account.
• Convenient investment process using UPI.
• Available for customers with valid KYC.

Recent News:

• In February 2025, South Indian Bank (SIB) launched two specialized startup current accounts—SIB Business Startup Current Account and SIB Corporate Startup Current Account—to support India’s startup ecosystem.

About South Indian Bank:

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

YES Bank Ranked Highest Among Indian Banks for ESG and Climate Disclosures by S&P Global and CDP

• YES BANK has once again demonstrated its leadership in sustainability, emerging as India's highest-rated bank in the S&P Global Corporate Sustainability Assessment (CSA) 2024 and the Carbon Disclosure Project (CDP) for the 3rd consecutive year.
• With a CSA score of 72 out of 100, YES BANK is the only Indian bank to feature in the S&P Global Sustainability Yearbook 2025, placing it among the top 15% Global Banking Leaders.
• The bank has also retained an A (Leadership Band) rating from CDP, reinforcing its strong climate change strategy and transparent ESG disclosures.
• Remains the only Indian bank with this rating, highlighting its exceptional sustainability performance.

S&P Global Recognition

• Highest CSA Score Among Indian Banks: YES BANK’s CSA score of 72 (and ESG score of 73) reaffirms its leadership in ESG practices.
• Yearbook Inclusion: Among 7,690 companies assessed globally, only 780 top performers were included in the S&P Global Sustainability Yearbook 2025. YES BANK is the only Indian bank among 51 high-scoring Indian companies to achieve this distinction.
• Comprehensive ESG Evaluation: The CSA assesses up to 1,000 data points across key factors, including Climate Strategy, Financial Inclusion, Human Rights, Corporate Governance, and Risk Management.

CDP Leadership Rating

• Retaining Leadership Band: YES BANK scored A- in the 2024 CDP Climate Change assessment, maintaining its leadership status.
• Global Benchmarking: Out of 22,000 organisations assessed, YES BANK ranked high in 11 out of 17 key parameters, including Strategy, Governance, Risk Management, and Sustainability Targets.

Key ESG Achievements

• Net-Zero Operations by 2030: Commitment to reducing Scope 1 and Scope 2 emissions to net-zero by 2030.
• Pioneering Financed Emissions Reporting: First Indian bank to disclose financed emissions for its electricity generation loan exposure, aligning with a well-below 2°C decarbonization scenario.
• Financial Inclusion Impact: Over 56 lakh active women customers in rural India benefit from the YES LEAP group-lending programme.
• Workplace Excellence: Certified as a Great Place to Work® for three consecutive years.
• Robust Governance: A Board-level CSR and ESG Committee ensures strong oversight of sustainability initiatives.

About YES Bank:

• Founded: 2004
• Headquarters: Mumbai, Maharashtra, India
• Managing Director & CEO: Prashant Kumar
• Tagline : "Life Ko Banao Rich"

Government seeks merchant bankers for stake sale in public sector banks, financial institutions

• The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers to facilitate the government’s proposed stake sale in public sector banks (PSBs) and listed public financial institutions (PFIs).
• Empanelment Duration: Selected bankers will be empanelled for three years, with an option for a one-year extension.
• Scope of Work: Merchant bankers will advise the government on equity dilution timing and modalities.
• Regulatory Compliance: Stake sales will be conducted using SEBI-approved methods in compliance with SEBI, RBI, IRDAI, and Stock Exchange regulations.

Potential OFS Candidates

• The Offer-for-Sale (OFS) plan is expected to include PSBs and listed financial institutions that have not yet met the 25% minimum public shareholding requirement.
• The likely candidates include: Public Sector Banks (PSBs) (These banks have government shareholding exceeding 90%)
• Indian Overseas Bank (IOB)
• Central Bank of India
• Punjab & Sind Bank
• UCO Bank
• Bank of Maharashtra is less likely to be part of the initial OFS since its government stake has already fallen below 80% due to Qualified Institutional Placement (QIP).
• Public Financial Institutions (PFIs): New India Assurance, Life Insurance Corporation (LIC) (in phases)

Merchant Banker Selection Criteria

• Bidders can apply under two categories based on their capacity to handle capital market transactions:
• ‘A+’ Category – For transactions worth ₹2,500 crore or more.
• ‘A’ Category – For deals below ₹2,500 crore.
• DIPAM may select one or more empanelled bankers for each transaction based on requirements.

Responsibilities of Selected Merchant Bankers

• Conducting market surveys.
• Organising domestic and international roadshows to attract potential investors.
• Arranging meetings with top management, institutional investors, and high-net-worth individuals (HNIs).
• Communicating the entity’s growth potential and developing marketing strategies.
• Covering expenses related to these activities (except for travel and stay of government/PSU officials).

About DIPAM:

• Department of Investment and Public Asset Management (DIPAM) deals with all matters relating to management of Central Government investments in equity including disinvestment of equity in Central Public Sector Undertakings.
• The three major areas of its work relate to Strategic Disinvestment and Privatisation, Minority Stake Sales and Capital Restructuring.
• All matters relating to sale of Central Government equity through offer for sale or private placement or any other mode in the Central Public Sector Undertakings as well as strategic disinvestment of CPSEs is dealt with in DIPAM.
• DIPAM is a Department under the Ministry of Finance.

CURRENT AFFAIRS: NATIONAL NEWS

Prime Minister Narendra Modi Inaugurates Advantage Assam 2.0 Investment & Infrastructure Summit 2025

• Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, Assam, highlighting the economic transformation of the Northeast and its role in India's growth story.
• He emphasised Assam’s potential as a global investment destination, aligning with India’s vision of Viksit Bharat by 2047.

Key Highlights of PM Modi’s Address

1. Assam’s Economic Growth & Development

• Assam’s economy doubled in six years, from ₹2.75 lakh crore (2018) to nearly ₹6 lakh crore
• The target is to achieve a $150 billion economy by 2030.
• The government focus on education, skill development, investment, and connectivity.
• The North East Transformative Industrialization Scheme, 'Unnati', will accelerate industry, investment, and tourism.

2. Connectivity & Infrastructure Boom

• Bridges over Brahmaputra: From 3 bridges (before 2014) to 7 bridges today, with more under construction.
• Rail Budget for Assam: Increased 4 times (from ₹2,100 crore in 2009-14 to ₹10,000 crore now).
• 60+ railway stations in Assam are being modernized.
• First semi high-speed train in North East: Guwahati to New Jalpaiguri.
• Air Connectivity: Flight routes increased from 7 (2014) to nearly 30 today.

3. Boost to Manufacturing & Industry

• Assam is becoming a hub for high-tech industries & startups, including electronics, semiconductors, and green energy.
• The Tata Semiconductor Assembly & Test facility in Jagiroad will promote semiconductor innovation.
• Assam contributes 50% of India’s on-shore natural gas production.
• Namrup-4 Urea Plant will boost agriculture & fertilizer production in the Northeast.

4. Global Trade & Make in India

• Assam emerged as a gateway to South East Asia through enhanced global trade ties.
• India is working on resilient supply chains, with Assam playing a key role in low-cost manufacturing (pharma, electronics, automobiles).

5. Renewable Energy & Green Growth

• India aims to add 500 GW of renewable energy by 2030.
• Assam has strategic advantages in gas-based industries, with the PLI scheme supporting green energy development.
• The government targets 5 million metric tons of annual green hydrogen production by 2030.

Recent news

• Prime Minister Narendra Modi inaugurated the Global Investors Summit 2025 in Bhopal, unveiling 18 new industrial policies aimed at transforming Madhya Pradesh into an investment hub.

India Leads Global IPO Market in 2024, Raising $19.5 Billion

• India has emerged as the top global destination for Initial Public Offerings (IPOs) in 2024, accounting for 23% of all IPOs worldwide and raising $19.5 billion.
• This achievement highlights India’s growing prominence in global financial markets, driven by economic stability, regulatory reforms, and strong investor confidence.

Key Highlights

India’s Record-Breaking IPO Performance

• Total IPOs: 268 (Highest globally)
  • Mainboard Listings: 90
  • SME Listings: 178
• Largest IPO of 2024 (India):
  • Hyundai Motors (India) Pvt Ltd raised ₹27,870 crore ($3.31 billion).
  • Second-largest IPO globally in 2024.
• Factors Driving Growth:
  • Economic stability & investor confidence.
  • Rise in venture-backed IPOs & SME participation.
  • Increased domestic & foreign institutional investment.

Growth of Venture-Backed & SME IPOs

• Venture-backed IPOs have more than doubled since 2021.
  • Indicates strong private equity & venture capital activity.
• SME IPO Expansion:
  • Median market capitalization grew 4.5 times since 2012, reaching ₹100 crore in 2024.
  • Median revenue at listing tripled to ₹70 crore.
  • Reflects growing investor trust in small & mid-sized businesses.

Challenges in the IPO Market

• Declining median market capitalization of listed firms:
  • Dropped from ₹3,800 crore (2021) to ₹2,770 crore (2023).
  • Suggests that more companies are going public, but they may be smaller in size.
• Rapid growth in quick commerce:
  • Industry expanded from $300 million (FY22) to an estimated $7.1 billion (FY25).
  • Increasing investments in online grocery & delivery platforms.

Kisan Credit Card (KCC) Loans Cross ₹10 Lakh Crore, Doubling Since 2014

• The total amount disbursed under operative Kisan Credit Card (KCC) accounts has more than doubled from ₹4.26 lakh crore in March 2014 to ₹10.05 lakh crore in December 2024.
• This highlights the expansion of institutional credit in agriculture, reducing reliance on non-institutional lenders.

Key Highlights

Growth in KCC Loans

• Total KCC loans: ₹10.05 lakh crore (as of Dec 2024).
• Number of farmers benefited: 7.72 crore.
• Increase from 2014: More than double from ₹4.26 lakh crore.

What is the Kisan Credit Card (KCC)?

• A banking product that provides timely and affordable credit to farmers for:
  • Purchasing agricultural inputs (seeds, fertilizers, pesticides).
  • Crop production and allied activities (animal husbandry, dairy, fisheries).
• Extended in 2019 to cover working capital needs of allied activities.

Government Support Through Interest Subvention

• Modified Interest Subvention Scheme (MISS):
  • 1.5% interest subvention provided to banks for short-term agri-loans via KCC.
  • Effective interest rate:
    • 7% annually for loans up to ₹3 lakh.
    • 4% if repaid on time (due to 3% Prompt Repayment Incentive).
  • Collateral-free loans up to ₹2 lakh, ensuring easy credit access for small and marginal farmers.

Budget 2025-26 Announcement

• Loan limit increase under MISS:
  • From ₹3 lakh to ₹5 lakh.
  • Expected to provide greater financial support to farmers.

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Unilever Chief Executive Officer Hein Schumacher to step down, current Chief Financial Officer to take over: 3 key details on the change of guard

• Hein Schumacher is stepping down as Chief Executive Officer (CEO) and Board Director on March 1, 2025, and will officially leave Unilever on May 31, 2025.
• He is leaving by mutual agreement and will be treated as a good leaver under Unilever’s Remuneration Policy.
• Successor: Fernando Fernandez, currently Unilever’s Chief Financial Officer (CFO) and Executive Director, will take over as CEO from March 1, 2025.
• Fernando has previously served as President of Unilever’s Beauty & Wellbeing business, President of Latin America, CEO of Brazil, and CEO of the Philippines.

New CFO Appointment

• Current CFO Fernando Fernandez will become CEO, requiring a new CFO appointment.
• Temporary CFO: Srinivas Phatak, currently Deputy CFO and Group Controller, will take over as Acting CFO from March 1, 2025.
• A global search is underway for a permanent CFO.
• Srinivas has previously served as CFO of Hindustan Unilever Limited (HUL) and held senior roles in finance, strategy, and supply chain.

Tata Sons chairman N Chandrasekaran to lead Ratan Tata Endowment Foundation

• Natarajan Chandrasekaran, Chairman of Tata Sons, has been appointed as the Chairman of the Ratan Tata Endowment Foundation (RTEF).
• The appointment was made by the executors of Ratan Tata’s will:
  • Darius Khambata
  • Mehli Mistry
  • Shireen Jejeebhoy (half-sister of Ratan Tata)
  • Deanna Jejeebhoy (half-sister of Ratan Tata)
• The decision was taken after seeking external legal counsel.
• Chandrasekaran will formalize the management structure and leadership team for RTEF.
• The distribution of Ratan Tata’s wealth to RTEF will happen after his will is submitted for probate at the Bombay High Court.
• Probate approval is expected to take up to six months.
• Once approved, RTEF will receive funds from Ratan Tata’s stakes in:
  • Tata Sons
  • Tata Technologies
  • Tata Digital

About the Ratan Tata Endowment Foundation:

• Established by the late Ratan Tata as a Section 8 company for charitable and philanthropic initiatives.
• Operates independently of Tata Trusts.
• Unlike Tata Trusts, there is no restriction on the Chairman of Tata Sons serving as its Chairman.

SBI Life Appoints Dorababu Daparti As Deputy Chief Executive Officer

• Dorababu Daparti has been appointed as Deputy Chief Executive Officer (CEO) of SBI Life Insurance, with effect from 24 February 2025.
• His appointment was approved by the board based on the recommendation of the Nomination and Remuneration Committee.
• Daparti has over 29 years of experience in the financial industry.
• He holds a Master’s degree in Sciences (M.Sc.) and is a Chartered Associate of the Indian Institute of Bankers (CAIIB).
• He joined State Bank of India (SBI) in 1995 and has held various managerial and executive roles within the organization.
• He has served as the Country Head and CEO of SBI’s Maldives operations since September 2021.
• He also played a key role as Deputy General Manager and Head of Overseas Planning & Strategy in the International Banking Group at SBI’s Corporate Centre, Mumbai.
• SBI Life Insurance is engaged in the life insurance business, offering individual and group life insurance plans, including participating and non-participating policies.
• The company provides pension, gratuity, leave encashment, superannuation, and immediate annuity plans, along with unit-linked insurance products, variable insurance products, health, and microinsurance.
• Some policies include riders such as accident and disability benefits, level term, and critical illness cover.

About SBI Life Insurance:

• Headquarters: Mumbai, Maharashtra, India
• Founded: 2001
• CEO: Amit Jhingran
• Subsidiaries: SBI Pension Funds Pvt. Ltd.
• Key Products: Life Insurance, Health Insurance, Pension Plans, Unit-Linked Insurance Plans (ULIPs), Term Insurance, Child Plans, Retirement Plans, Critical Illness Plans

CURRENT AFFAIRS: ACQUISITION & MERGERS

Flipkart-backed super.money acquires checkout financing platform BharatX

• money, backed by Flipkart, has acquired BharatX, a buy-now-pay-later (BNPL) fintech startup.
• The acquisition is an all-cash transaction, but financial terms have not been disclosed.
• BharatX’s core team will join super.money to enhance the app’s credit offerings.
• They will focus on developing credit solutions for the Unified Payments Interface (UPI).
• money ranked as the 7th-largest UPI player as of November 2024, processing 78.49 million transactions worth ₹3,130.10 crore (US$ 359.23 million), according to NPCI.
• The acquisition aligns with super.money’s plan to expand its credit product portfolio.
• Future offerings include personal loans and other unsecured credit products.

About BharatX:

• Founded in 2019 by Mehul Nath Jindal, Eeshan Sharma, and Shyam Murugan.
• Specializes in embedded credit solutions for consumer platforms.

About Super.money:

• Launched in beta mode in June 2023 by Prakash Sikaria.
• Offers superUPI, superCards, superCash, and superDeposits.

Competition Commission of India approves amalgamation of Chaitanya India Fin Credit and Svatantra Holdings into Svatantra Microfin

• The Competition Commission of India (CCI) has approved the amalgamation involving four entities within the Svatantra Group.
• The proposed merger includes Svatantra Holdings Pvt Ltd (SHPL), Svatantra Microfin Pvt Ltd (SMPL), Chaitanya India Fin Credit Pvt Ltd (CIFCPL), and Svatantra Micro Housing Finance Corporation Limited (SMHFCL).
• SHPL, incorporated in 2018, is a core investment company focused on equity, preference shares, and securities.
• SMPL and CIFCPL are Non-Banking Financial Companies-Micro Finance Institutions (NBFC-MFI) that provide microfinance and personal loans to low-income households in rural and semi-urban areas.
• SMHFCL is a Housing Finance Company (NBFC-HFC) offering secured housing loans, loans against property, and financing for construction projects.

Key Highlights:

• The Commission has approved the amalgamation of CIFCPL and SHPL into SMPL following a Scheme of Amalgamation agreed upon by the companies and their shareholders.
• As a result, SMHFCL will become a wholly-owned subsidiary of SMPL, strengthening its position in the microfinance sector.
• SHPL, an unregistered Core Investment Company, operates under the RBI’s Core Investment Companies (Reserve Bank) Directions, 2016.
• SMPL and CIFCPL are classified as middle-layer non-deposit taking NBFC-MFIs, while SMHFCL is a middle-layer non-deposit taking NBFC-HFC.
• The merger is expected to enhance financial inclusion and streamline operations within the microfinance and housing finance segments.
• Svatantra Microfin Pvt Ltd focuses on empowering underserved communities through financial services and aims to expand outreach by integrating CIFCPL and SHPL.
• The consolidation in the microfinance sector aligns with India's growing financial inclusion initiatives, strengthening SMPL’s market presence and operational efficiency.
• Industry analysts are closely monitoring the merger's impact on the financial services landscape and potential future consolidations in the sector.

About CCI:

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairsand is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

CURRENT AFFAIRS : DEFENCE

Defence Ministry forms high-level panel to boost indigenous light fighter jet production

• The Ministry of Defence has formed a high-level committee to address delays in Tejas Mk-1A deliveries to the Indian Air Force (IAF).
• The five-member committee is led by Defence Secretary Rajesh Kumar Singh and aims to identify causes of delays and suggest measures for faster induction.
• Air Chief Marshal AP Singh criticised Hindustan Aeronautics Limited (HAL) at Aero India 2025, stating he was "not confident" in HAL’s ability to meet deadlines.
• He strongly objected to HAL’s casual approach, saying “Maza nahi aa raha hai” (I am not enjoying this).
• HAL Chairman D K Sunil responded, acknowledging the delays and assuring that technical challenges are being resolved to improve production efficiency.
• Tejas Mk-1A is a 5-generation, multi-role, all-weather fighter jet, developed under "Atma Nirbhar Bharat" for IAF modernisation.
• IAF has ordered 83 Tejas Mk-1A jets, with plans to operate around 350 Tejas variants in the next decade, including Mk-1, Mk-1A, and Mk-2.
• The committee has a one-month deadline to submit a report on:
  • Identifying bottlenecks in production and induction.
  • Suggesting solutions for faster delivery.
  • Exploring private sector participation in aircraft manufacturing.

Recent News:

• In January 2025, the Defence Ministry declared 2025 as the 'year of reforms'

About Ministry of Defence:

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

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Decommissioned naval warship INS Guldar to be sunk off Sindhudurg coast to boost scuba tourism

• The Indian Navy has handed over Ex INS Guldar, a Landing Ship Tank (Medium), to Maharashtra Tourism Development Corporation Limited (MTDC).
• The ship will be converted into India’s first underwater museum and artificial reef using a decommissioned naval vessel.
• The ship was transferred to MTDC at Karwar on an ‘as is where is’ basis. The MTDC will manage the transformation, which includes removing pollutants, securing environmental clearances, obtaining necessary NOCs, and scuttling the ship at Sindhudurg following strict safety protocols.

About Ex INS Guldar

• Built at Gdynia Shipyard, Poland and commissioned on December 30, 1985.
• Served in Eastern Naval Command (1985-1995) and later in Andaman and Nicobar Command until decommissioning on January 12, 2024.
• Sailed for over 3,900 days and conducted over 490 beaching operations to land Army troops ashore.
• Participated in key operations: Op Aman, Op Azad, Op Pawan, and Op Tasha.

Significance of the Project

• Marine Conservation: Creates an artificial reef that enhances marine biodiversity and supports the local ecosystem.
• Underwater Tourism: Offers diving experiences, boosts tourism, and supports coastal livelihoods.
• Naval Heritage Preservation: Allows future generations to explore naval history and honor the service of naval personnel.
• Diving Training: Provides training opportunities for the Indian Navy in underwater operations.

Other Marine Museums in India

• INS Kursura (Visakhapatnam):
  • Submarine museum at RK Beach, Visakhapatnam.
  • Joint venture between Eastern Naval Command and National Ship Design and Research Center.
• INS Vikrant (Mumbai):
  • British-built aircraft carrier (1961-1997).
  • Operated as a museum (2002-2012) before being scrapped (2014-2015).
  • INS Vikrant was later reinducted into the Indian Navy on September 2, 2022, as India’s first indigenously built aircraft carrier.
• INS Cuddalore (Pondicherry):
  • Minesweeper turned underwater museum in 2018.
  • Collaboration with National Institute of Oceanography and PondyCan (NGO).
  • Located 26 meters underwater, measuring 60 meters long and 12 meters wide.

CURRENT AFFAIRS: AWARDS AND HONOURS

National Dhanwantari Ayurveda Awards 2025: Recognizing Excellence in Traditional Medicine

• The Ministry of Ayush has honoured three distinguished Ayurveda practitioners with the National Dhanwantari Ayurveda Awards 2025 for their exceptional contributions to Indian traditional medicine. Each awardee received:
  • A citation
  • A statue of Lord Dhanwantari
  • A cash prize of ₹5 lakh

Who Are the 2025 Award Recipients?

Vaidya Tara Chand Sharma

• Renowned Nadi Vaidya (pulse diagnosis expert) and author
• Has made significant advancements in Ayurvedic diagnostics and literature

Vaidya Maya Ram Uniyal

• An eminent scholar in Dravyaguna Vigyana (study of medicinal properties of herbs)
• Over 60 years of service in Ayurveda
• His writings and leadership have inspired many in the field

Vaidya Sameer Govind Jamadagni

• Founder of Vishwa Vyakhyanmala national conference & Vishwa Ayurveda Prabodhini
• Has played a key role in transforming Ayurveda education for over 40 years

How Do These Awards Reflect India’s Healthcare Mission?

• Union Minister Prataprao Jadhav emphasized that these awards highlight India’s growing influence in global healthcare
• Recognizing these practitioners aligns with the government’s vision of integrating Ayurveda with modern healthcare systems

What Is the Historical Significance of the Awards?

• Established to honor excellence in Ayurveda, these awards celebrate those who:
  • Elevate Ayurveda from local traditions to global recognition
  • Inspire future generations to adopt and propagate holistic health practices
  • Strengthen India’s position as a leader in traditional medicine and wellness

CURRENT AFFAIRS: MOUS AND AGREEMENT

Tribal Cooperative Marketing Development Federation of India Limited Signs MoUs with National Institute of Fashion Technology & Himachal Pradesh Horticulture Produce Marketing and Processing Corporation Limited to Boost Tribal Marketing with B2B Approach

• In a strategic move to shift from B2C to B2B for tribal marketing, the Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED), under the Ministry of Tribal Affairs, has partnered with NIFT (National Institute of Fashion Technology) and HPMC (Himachal Pradesh Horticulture Produce Marketing and Processing Corporation Ltd).
• The MoUs were signed in New Delhi during the ‘Aadi Mahotsav’ festival at Major Dhyan Chand National Stadium.

Key Objectives of the MoUs

1. TRIFED-NIFT Partnership

• Objective: Enhancing design & product development for tribal handloom and handicraft products.
• Signatories:
  • TRIFED General Manager: Shri Sandeep Pahalwan
  • NIFT Director (Head Office): Mr Gaurav Mishra

2. TRIFED-HPMC Partnership

• Objective: Technology integration & processing of horticulture and minor forest products.
• Signatories:
  • TRIFED General Manager: Ms Mamta Sharma
  • HPMC General Manager: Shri Sunny Sharma

Event Highlights – Aadi Mahotsav 2025

• Inaugurated by President of India, Smt Droupadi Murmu on 16th February 2025.
• Dignitaries present:
  • Shri Jual Oram, Union Minister for Tribal Affairs
  • Shri Durga Das Uikey, MoS Tribal Affairs
  • Ms Bansuri Swaraj, Member of Parliament

About the Organizations

1. TRIFED (Tribal Cooperative Marketing Development Federation of India Ltd)

• Under: Ministry of Tribal Affairs, Government of India
• Mission: Socio-economic upliftment of tribal communities through the marketing of tribal products.

2. NIFT (National Institute of Fashion Technology)

• Established: 1986
• Focus: Fashion, design, technology, and management.
• Role in MoU: Design & product development support for tribal artisans.

3. HPMC (Himachal Pradesh Horticulture Produce Marketing & Processing Corporation Ltd)

• Established: 1974
• Focus: Marketing & processing of horticultural produce in Himachal Pradesh.
• Role in MoU: Technology and value addition for tribal forest & horticultural products.

CURRENT AFFAIRS: SPORTS NEWS

Pankaj Advani Wins 2025 Asian Snooker Championship

• India’s ace cueist, Pankaj Advani, secured the 2025 Asian Snooker Championship (Men’s Title) by defeating Amir Sarkosh of Iran in the final.
• This victory marks his 14th Asian title across snooker and billiards formats.

Key Highlights

Pankaj Advani’s Victory

• Final: Defeated Amir Sarkosh (Iran) 4-1 in frames.
• Semifinal: Defeated Chang Yu Kiu (Hong Kong, China).
• Total Asian Titles: 14 (Snooker & Billiards).
• Breakdown of Titles:
  • Asian Snooker Titles: 5 (15-red, 6-reds & team formats).
  • Asian Billiards Titles: 9.
• Asian Games Gold Medals: 2 (Doha 2006, Guangzhou 2010).

Other Winners

Women’s Title

• Winner: Narantuya Bayarsaikhan (Mongolia).
• Runner-up: Ng On Yee (Hong Kong, China).
• Semifinalists:
  • Ng On Yee defeated Amee Kamani (India).
  • Narantuya Bayarsaikhan defeated Anupama Ramachandran (India).

Men’s Under-21 Title

• Winner: Shaheen Sabzi (Iran).
• Runner-up: Zihao Dong (China).
• Semifinalists:
  • Zihao Dong defeated Dhruv Patel (India).

About the Asian Snooker Championship 2025

• Organizer: Asian Confederation of Billiards Sports (ACBS).
• Host: Qatar Billiards Sports Federation.
• Location: Doha, Qatar.
• Dates: February 15-21, 2025.
• Categories: Men’s, Women’s, and Under-21.

About the Asian Confederation of Billiards Sports (ACBS)

• Established: 1984 as the Asian Billiards & Snooker Federation.
• Role: Governing body for non-professional English billiards & snooker in Asia.
• Promotes: Snooker, pool, English billiards, and carom.
• Members: 25 countries.
• Headquarters: Doha, Qatar.
• President: Mohamed Salem Al-Nuaimi.

Recent news

• Pankaj Advani, India’s most decorated cueist, clinched his 36th national title and 10th men’s snooker championship at the Yashwant Club.

Indian Olympic Association Appoints Ad-Hoc Committee for Boxing Federation of India (BFI) Amid Election Delay

• The Indian Olympic Association (IOA) has set up a five-member ad-hoc committee to oversee the Boxing Federation of India (BFI) after it failed to conduct elections within the prescribed timeline.
• The decision, announced by IOA President PT Usha, aims to restore administrative stability in the federation.
• However, BFI President Ajay Singh has strongly opposed the move, calling it illegal and a violation of IOA’s constitution.

Key Highlights of the Issue

IOA’s Decision to Form an Ad-Hoc Committee

• BFI failed to hold elections by the deadline of February 2, 2025.
• IOA intervened due to administrative instability.
• A five-member ad-hoc committee was formed to oversee the federation.
• Committee Members:
  • Madhukant Pathak (Chairman)
  • Rajesh Bhandari (Vice-Chairman)
  • DP Bhatt, Boxer Shiva Thapa, and Virendra Singh Thakur as members.
• The panel’s main tasks:
  • Conduct free and fair elections.
  • Manage day-to-day operations of BFI.

BFI’s Response and Opposition

• BFI President Ajay Singh called the move illegal and unconstitutional.
• Claimed that IOA did not consult BFI before taking action.
• Cited Article 21.5 of the IOA Constitution, which requires consultation with the relevant international federation before making decisions regarding National Sports Federations (NSFs).
• BFI had already informed the Sports Ministry about election matters on February 2.
• Singh accused IOA of violating autonomy norms of national sports bodies.

About IOA

• President: P. T. Usha
• Founded: 1927
• Headquarters : New Delhi, India
• Founders: Harry Buck, Arthur Noehren

About BFI

• President: Ajay Singh
• Secretary: Hemanta Kumar Kalita
• The Boxing Federation of India (BFI) is headquartered in New Delhi.

CURRENT AFFAIRS: IMPORTANT DAYS

World NGO Day: 27th February

• World NGO Day 2025 is observed on the 27th of February 2025.
• G.O. is an acronym for non-governmental organization.
• World NGO Day is a day set aside to recognize, celebrate, and honor the fundamental contributions and profound impact that these independent organizations have had on the world

World NGO Day History

• World NGO Day was originally founded in 2009 by Marcis Liors Skadmanis, a social entrepreneur.
• However, it was observed for the first time on February 27, 2014.
• It’s a day set aside to honor all non-governmental and nonprofit organizations, recognizing their impact on the world.
• The holiday was officially declared back in 2010 by the 12 member countries of the Baltic Sea NGO Forum, recognized as a partner of the Council of the Baltic Sea States.
• However, it only received international recognition in 2014 from the European Union, the United Nations, and other international organizations.

Daily CA One- Liner: February 27

• Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, Assam, highlighting the economic transformation of the Northeast and its role in India's growth story
• India has emerged as the top global destination for Initial Public Offerings (IPOs) in 2024, accounting for 23% of all IPOs worldwide and raising a total of $19.5 billion.
• The total amount disbursed under operative Kisan Credit Card (KCC) accounts has more than doubled from ₹4.26 lakh crore in March 2014 to ₹10.05 lakh crore in December 2024
• The Ministry of Ayush has honoured three distinguished Ayurveda practitioners with the National Dhanwantari Ayurveda Awards 2025 for their exceptional contributions to Indian traditional medicine
• In a strategic move to shift from B2C to B2B for tribal marketing, the Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED), under the Ministry of Tribal Affairs, has partnered with NIFT (National Institute of Fashion Technology) and HPMC (Himachal Pradesh Horticulture Produce Marketing and Processing Corporation Ltd).
• India’s ace cueist, Pankaj Advani, secured the 2025 Asian Snooker Championship (Men’s Title) by defeating Amir Sarkosh of Iran in the final.
• The Indian Olympic Association (IOA) has set up a five-member ad-hoc committee to oversee the Boxing Federation of India (BFI) after it failed to conduct elections within the prescribed timeline
• Reserve Bank of India (RBI) has reversed its decision to increase risk weights for bank loans to Non Banking Financial Companies, effective April 1, 2025.
• IndusInd Bank has partnered with the Professional Golf Tour of India (PGTI) as its official Banking Partner, reinforcing its commitment to providing a premium experience to Ultra High Net Worth Individuals (UHNIs) & High Net Worth Individuals (HNIs) under its PIONEER banking
• The Small Industries Development Bank of India (SIDBI) and Tata Capital Limited (TCL) have signed an MoU for a "Partnership for financing MSMEs," aiming to enhance funding opportunities for the Micro, Small, and Medium Enterprise (MSME) sector.
• South Indian Bank (SIB) has introduced “SIB QUICKPL”, a digital personal loan platform designed for new customers, making personal financing faster and more accessible and also launched 'SIB Quick FD', a new variant that allows customers to open Fixed Deposits (FDs) digitally using funds from other bank accounts via UPI.
• YES BANK has once again demonstrated its leadership in sustainability, emerging as India's highest-rated bank in the S&P Global Corporate Sustainability Assessment (CSA) 2024 and the Carbon Disclosure Project (CDP) for the 3rd consecutive year.
• The Department of Investment and Public Asset Management (DIPAM) has invited bids from merchant bankers to facilitate the government’s proposed stake sale in public sector banks (PSBs) and listed public financial institutions (PFIs).
• Hein Schumacher is stepping down as Chief Executive Officer (CEO) and Board Director on March 1, 2025, and will officially leave Unilever on May 31, 2025.
• Natarajan Chandrasekaran, Chairman of Tata Sons, has been appointed as the Chairman of the Ratan Tata Endowment Foundation (RTEF).
• Dorababu Daparti has been appointed as Deputy Chief Executive Officer (CEO) of SBI Life Insurance, with effect from 24 February 2025.
• money, backed by Flipkart, has acquired BharatX, a buy-now-pay-later (BNPL) fintech startup.
• The Competition Commission of India (CCI) has approved the merger includes Svatantra Holdings Pvt Ltd (SHPL), Svatantra Microfin Pvt Ltd (SMPL), Chaitanya India Fin Credit Pvt Ltd (CIFCPL), and Svatantra Micro Housing Finance Corporation Limited (SMHFCL).
• The Ministry of Defence has formed a five-member committee led by Defence Secretary Rajesh Kumar Singh and aims to identify causes of delays and suggest measures for faster induction.
• The Indian Navy has handed over Ex INS Guldar, a Landing Ship Tank (Medium), to Maharashtra Tourism Development Corporation Limited (MTDC).
• World NGO Day 2025 is observed on the 27th of February 2025.