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CURRENT AFFAIRS: BANKING & FINANCE

Securities and Exchange Board of India (SEBI) Imposes ₹5.05 Crore Penalty on Indian Clearing Corporation (ICCL), for Cybersecurity and Audit Norm Violations

• The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹5.05 crore on Indian Clearing Corporation (ICCL), a wholly owned subsidiary of BSE, for alleged violations related to cybersecurity and system audit norms.
• Following an inspection conducted between December 2022 and July 2023, SEBI issued a show-cause notice to ICCL in October 2024, citing multiple compliance lapses.
• One of the key findings was that ICCL submitted a network auditor report without incorporating management or board comments, which is a regulatory requirement.
• Additionally, SEBI's investigation revealed that ICCL did not maintain an up-to-date inventory, failed to address issues flagged in cyber audits promptly, and did not establish a one-to-one correspondence between its disaster recovery site (DRS), near site (NS), and Primary Data Centre (PDC), as mandated by cybersecurity regulations.
• This penalty highlights SEBI’s strict stance on cybersecurity compliance and risk management within financial institutions, emphasizing the need for clearing corporations to adhere to prescribed norms and ensure robust cybersecurity frameworks with timely resolution of audit observations.

About SEBI :

• Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
• Headquarters : Mumbai, Maharashtra
• Chairman : Madhabi Puri Buch (first woman to lead the SEBI)
• SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

Go Digit launches India’s first AQI-based parametric insurance for Delhi-NCR construction workers

• Go Digit General Insurance Limited (Digit Insurance) has partnered with M. Dastur Reinsurance Brokers (KMD) to introduce one of India’s first AQI-based parametric insurance policies for migrant construction workers in Delhi NCR.
• The policy provides compensation of up to ₹6,000 to 6,200 workers affected by construction bans imposed due to severe air pollution.
• Under the policy, claims are triggered automatically if Delhi’s daily Air Quality Index (AQI) exceeds 400 more than twice.
• A "strike" is defined as three days of AQI above 400 within any five-day period, with a minimum 25-day gap between strikes.
• Various government and court directives mandate halting construction activities when pollution reaches hazardous levels, directly impacting workers' earnings.
• Nikhil Kamdar, appointed actuary at Digit Insurance, stated that the policy aims to provide a transparent and efficient solution for wage loss caused by pollution-related work stoppages.
• In 2024, Digit Insurance also introduced excess heat-related parametric insurance for women labourers in Gujarat.

CURRENT AFFAIRS: NATIONAL NEWS

IIT Madras and Indian Railways have launched India’s first hyperloop test track

• IIT Madras, in partnership with Indian Railways, has established India’s inaugural hyperloop test track within the IIT campus.
• This 422-meter-long facility is designed to test and refine hyperloop technology, paving the way for ultra-fast intercity travel that could reduce long journeys to just a few minutes.

How the Hyperloop Works and Its Distinct Advantages

• The system operates on magnetic levitation, where electromagnetically levitated pods travel inside a vacuum tube.
• This configuration minimizes friction and air resistance, enabling pods to achieve speeds of up to 1,200 km/h.
• Such high speeds could allow routes like Delhi to Jaipur or Bengaluru to Chennai to be covered in approximately 30 minutes, far surpassing traditional rail travel.

Project Leadership and Development

• The initiative is a collaborative effort between the Indian government and academia.
• The project is funded by the Ministry of Railways and serves as a research platform to develop hyperloop technology.
• Railway Minister Ashwini Vaishnaw has committed an additional $1 million grant to accelerate research.
• The Avishkar Hyperloop team at IIT Madras plays a critical role in the development and testing of the hyperloop pods.

Recent news

• In Feb 2025, In a significant stride towards self-reliance in space technology, the Indian Space Research Organisation (ISRO) and the Indian Institute of Technology Madras (IIT Madras) have collaboratively developed and successfully booted an indigenous semiconductor chip named ‘IRIS’ (Indigenous RISC-V Microprocessor for Space Applications).

SWAYATT Initiative on GeM Celebrates 6 Years of Transformative Impact

• The Government e-Marketplace (GeM) marked six years of its Startups, Women & Youth Advantage through e-Transactions (SWAYATT) initiative at its headquarters in New Delhi.
• Launched on February 19, 2019, SWAYATT was designed to boost the participation of women entrepreneurs, startups, and youth in public procurement.

Key Highlights

Empowering Women & Small Enterprises

• SWAYATT is built on GeM’s principle of social inclusion, facilitating ease of doing business and direct market linkages for:
  • Women entrepreneurs
  • Micro & Small Enterprises (MSEs)
  • Self-Help Groups (SHGs)
  • Startups and youth from backward sections
• The initiative trains and onboards last-mile sellers, promoting women entrepreneurship and small-scale business participation in government procurement.

GeM-FICCI FLO Partnership

• On this occasion, GeM signed an MoU with the Federation of Indian Chambers of Commerce & Industry Ladies Organisation (FICCI-FLO), which represents over 9,500 women entrepreneurs.
• The partnership aims to:
  • Provide direct access for women entrepreneurs to government buyers without intermediaries.
  • Ensure better product pricing and local job creation.
  • Enable training, onboarding, and business linkages for women-led enterprises.

Growth of Women Entrepreneurs & Startups on GeM

• At SWAYATT’s launch, only 6,300 women-led enterprises and 3,400 startups were registered on GeM.
• Today, the platform has grown significantly:
  • 8% of GeM’s total sellers are women entrepreneurs.
  • 1,77,786 Udyam-verified women MSEs have fulfilled orders worth ₹46,615 crore.
  • Startups on GeM have received orders worth ₹35,950 crore.

Dedicated Platforms for Startups & Women Entrepreneurs

• Startup Runway and Womaniya Storefronts ensure wider visibility for:
  • Startups
  • Women entrepreneurs
  • Youth enterprises

Cali Fund for Fair Benefit-Sharing of Digital Sequence Information (DSI) Launched at COP16 Session of CBD in Rome

• The Cali Fund for the Fair and Equitable Sharing of Benefits from Digital Sequence Information on Genetic Resources (DSI) was launched today at the resumed session of COP16 of the Convention on Biological Diversity (CBD) at the FAO Headquarters in Rome.
• This landmark initiative aims to mobilize private sector funding for biodiversity conservation and sustainable use.

Key Highlights

A New Era for Biodiversity Finance

• The Cali Fund introduces a private sector-driven funding model for biodiversity finance.
• Companies using genetic resource data (DSI) for commercial purposes will contribute a portion of their revenue to the Fund.
• Contributions will support the implementation of the Kunming-Montreal Global Biodiversity Framework (KMGBF) and other biodiversity-related commitments.

Supporting Indigenous and Local Communities

• Recognizing their role as custodians of biodiversity, at least 50% of the Fund’s resources will be allocated to the self-identified needs of indigenous peoples and local communities, including women and youth.
• These funds will empower communities to protect, sustain, and benefit from biodiversity.

Enhancing Global Biodiversity Efforts

• The Fund will support National Biodiversity Strategies and Action Plans (NBSAPs), particularly in developing countries.
• It will bolster scientific research on biodiversity and address gaps in data access, usage, and storage of DSI.
• By bridging funding gaps, the Fund will help halt and reverse biodiversity loss as part of the CBD’s global objectives.

Institutional Framework & Governance

• The Fund was established under Decision 16/2, adopted at COP16 in Colombia on 2 November 2024.
• It will be hosted by the Multi-Partner Trust Fund Office (MPTFO) in collaboration with:
  • United Nations Development Programme (UNDP)
  • United Nations Environment Programme (UNEP)
  • Secretariat of the Convention on Biological Diversity (CBD), which will also host the Fund Secretariat
• A Memorandum of Understanding (MoU) formalizing this institutional arrangement was signed during the launch.

Advantage Assam 2.0: Boosting Investment and Infrastructure Growth

• Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment and Infrastructure Summit 2025 in Guwahati, marking a major milestone in Assam’s economic development.
• The event showcased significant investment commitments and highlighted Assam’s transformation into a peaceful and business-friendly state.

Key Investment Announcements

• Reliance Industries Limited and Adani Group each committed to investing ₹50,000 crore in Assam over the next five years.
• Mukesh Ambani emphasized Reliance’s focus on technology and digital sectors in Assam.
• Gautam Adani announced investments in airports, city gas distribution networks, and roadways, enhancing infrastructure development.

Economic Transformation of Assam

• Chief Minister Himanta Biswa Sarma projected Assam’s economy to reach $143 billion by 2030.
• State GDP growth for 2025 is expected to be 15.2%, reflecting stability and industrial progress.
• Transformation attributed to Prime Minister Modi’s leadership and implementation of major industrial projects.

Union Finance Minister Smt. Nirmala Sitharaman to Preside Over 49th Civil Accounts Day Celebrations in New Delhi on 1st March 2025

• The 49th Civil Accounts Day will be celebrated on 1st March 2025 in New Delhi, marking the Foundation Day of the Indian Civil Accounts Service (ICAS).
• Union Minister of Finance & Corporate Affairs, Smt. Nirmala Sitharaman, will lead the event.

Key Highlights of the Celebrations

Release of PFMS Compendium

• A compendium titled “Digitalisation of Public Financial Management in India: The Transformative Decade (2014-24)” will be launched.
• The Public Financial Management System (PFMS), designed and developed by the Controller General of Accounts (CGA), serves as the primary IT platform for the financial administration of the government.
• PFMS plays a critical role in payment processing, receipts, accounting, cash management, and financial reporting.
• It has been instrumental in Direct Benefit Transfers (DBT), a key Public Expenditure Management reform.

Indian Civil Accounts Service:

• Established in 1976 following reforms in public financial administration.
• On March 1, 1976, the President of India promulgated ordinances separating Union Government accounts from audit functions, leading to the creation of departmentalised accounts.
• Since its inception, ICAS, under the leadership of the Controller General of Accounts (CGA), has played a key role in financial governance.

CURRENT AFFAIRS: STATE NEWS

Prime Minister Modi to attend ‘biggest ever’ jhumur event in Guwahati, Assam

• Indian Prime Minister Narendra Modi will witness the “biggest ever” Jhumur event at Sarusajai Stadium, Guwahati, during Jhumoir Binandini 2025.
• The event marks the 200th anniversary of Assam’s tea industry, featuring a record-breaking 8,600 dancers performing Jhumur.

Who Are the Tea Tribes?

• The term "tea tribe" refers to the multi-ethnic and multi-cultural community of tea garden workers and their descendants in
• These workers migrated from Central India, mainly from Jharkhand, Odisha, Chhattisgarh, and West Bengal, during British rule in the 19th century.
• The migration was often forced and took place under exploitative conditions, with workers facing low wages and harsh labor conditions.
• Their descendants are mainly concentrated in Upper Assam and the Barak Valley.
• They have OBC status in Assam but have been demanding Scheduled Tribe (ST) status, like Munda and Santhal tribes, who have ST recognition in their native states.

What is the Jhumur Dance?

• Jhumur is a folk dance of the Sadan ethnolinguistic group, with origins in Chotanagpur.
• It plays a central role in tea garden festivals celebrated by workers in Assam.
• Women are the main dancers and singers, while men play traditional instruments like:
  • Madal, Dhol, Dhak (drums)
  • Cymbals, Flutes, Shehnai
• Dancers wear red and white sarees (popular among women) and perform coordinated movements while singing in Nagpuri, Khortha, and Kurmali, with influences from Assamese.
• Despite its upbeat rhythms, Jhumur songs often carry grim themes reflecting the struggles of tea garden workers.
• Jhumur has also served as a tool for social cohesion, helping displaced tea garden communities preserve their culture and identity.

Recent News:

• In February 2025, Prime Minister Shri Narendra Modi inaugurated the Advantage Assam 2.0 Investment & Infrastructure Summit 2025 in Guwahati, Assam

About Assam:

• Chief Minister: Himanta Biswa Sarma
• Governor: Lakshman Prasad Acharya
• Capital: Dispur
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary

Assam: Move to recognise Bathouism highlights government commitment to preserve nature-based faiths

• The Bodoland Territorial Region (BTR) government has added "Bathouism" as an official religious option in various application forms.
• This move applies to educational admission forms, birth and death certificates, and other official documents under Assam’s Health & Family Welfare Department.
• Union Home Minister Amit Shah highlighted the government’s commitment to preserving nature-centric faiths at the 13th Triennial Conference of the All Bathou Mahasabha in Tezpur, Assam (January 20, 2024).
• The Assam Government has also declared the second Tuesday of the traditional month of Magh as a state holiday for Bathou Puja.

What is Bathouism?

• Bathouism is the traditional faith of the Bodos, Assam’s largest plains tribe.
• The religion is centered around the worship of "Bathoubwrai" or "Sibwrai," the supreme deity.
• The faith derives its name from:
  • "Ba" (meaning "five" in Bodo)
  • "Thou" (meaning "deep philosophical thought")
• Bathouism is based on five elements, similar to Panchatatva in Hinduism:
  • Bar – Air
  • San – Sun
  • Ha – Earth
  • Or – Fire
  • Okhrang – Sky

Sacred Symbol: The Sijou Plant

• The Sijou plant (Euphorbia splendens) is central to Bathouism and is planted at the Bathou altar as a symbol of life and soul.
• It represents Bathoubwrai, the supreme deity, who is described as omnipotent, omniscient, and omnipresent.

Parallels with Sarnaism

• Bathouism shares similarities with Sarnaism, an indigenous faith of Central India (Chota Nagpur Plateau).
• Commonalities:
  • Nature worship
  • Belief in ancestral spirits
  • Priesthood traditions
• Differences:
  • Sarnaism is centered around sacred groves
  • Bathouism is centered around the Sijou tree

Union Government Greenlights Construction of Arunachal Frontier Highway to Boost Border Connectivity, Announces Union Minister of Parliamentary Affairs of India Kiren Rijiju

• The Union Government has approved the construction of the Arunachal Frontier Highway, a massive infrastructure project aimed at enhancing connectivity in border areas, Union Minister Kiren Rijiju

Key Highlights:

• Speaking at the Joint Mega Nyokum Yullo Celebration in Boasimla, Kamle district, Rijiju stated that the highway, passing through 12 districts along the India-China border, is a dream come true and a game changer for Arunachal Pradesh.
• With an estimated cost of ₹42,000 crore, this is the highest-ever allocation for a single infrastructure project by the Central Government.
• According to the Border Roads Organisation (BRO), the 1,637-km-long highway will, in some areas, run as close as 20 km to the Line of Actual Control (LAC).
• Its development aligns with the Narendra Modi government’s focus on border village development, North-East infrastructure enhancement, and troop movement facilitation.
• Rijiju emphasized that, while major expressways like the Mumbai-Pune Expressway, Jaipur-Delhi corridor, and Kolkata-Chennai highway were built at a fraction of this cost, the Arunachal Frontier Highway requires an unprecedented investment due to its strategic importance and challenging terrain.
• The highway will pass through key districts, including East Kameng, Bichom, Kra Daadi, Upper Subansiri, Shi-Yomi, Anjaw, and Changlang, providing crucial road connectivity to remote areas.
• Rijiju also revealed that more infrastructure projects are in the pipeline for the state, further boosting connectivity and development in Arunachal Pradesh.

Recent News:

• Arunachal Pradesh Foundation Day, also known as Arunachal Pradesh Statehood Day is observed annually on February 20th

About Arunachal Pradesh:

• Chief Minister: Pema Khandu
• Governor: Kaiwalya Trivikram Parnaik
• Capital: Itanagar
• National Parks: Namdapha National Park, Mouling National Park, Mehao Wildlife Sanctuary, Eaglenest Wildlife Sanctuary,
• Wildlife Sanctuaries: Pakke Tiger Reserve, Kamlang Wildlife Sanctuary, Dampa Tiger Reserve, Daying Ering Wildlife Sanctuary

CURRENT AFFAIRS: APPOINTMENTS & RESIGNATIONS

Delhi Chief Minister to move motion for Mohan Singh Bisht as Deputy Speaker

• Delhi Chief Minister Rekha Gupta welcomed well-wishers at her residence on February 27, 2025, ahead of proposing BJP MLA Mohan Singh Bisht for the Deputy Speaker post in the Delhi Assembly.
• The List of Business confirmed that MLA Anil Kumar Sharma will also propose the motion, with Gajender Singh Yadav seconding it.
• Additionally, the Delhi Assembly will discuss the Comptroller and Auditor General (CAG) report on the ‘Performance Audit Report on Regulation and Supply of Liquor in Delhi’ on February 27, 2025.

CURRENT AFFAIRS: DEFENCE NEWS

Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducts flight trials of the first-of-its-kind Naval Anti-Ship Missile (NASM-SR)

• The Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducted flight trials of the first-of-its-kind Naval Anti-Ship Missile (NASM-SR) on February 25, 2025, at the Integrated Test Range (ITR), Chandipur,
• The missile, launched from an Indian Naval Seaking Helicopter, demonstrated its capability against ship targets.

Key Highlights:

• Missile launched in Bearing-only Lock-on after launch mode.
• Initially locked onto a large target within the search zone.
• During the terminal phase, the pilot selected a smaller hidden target, hitting it with pinpoint accuracy.
• Indigenous Fiber Optic Gyroscope-based INS and Radio Altimeter for mid-course guidance.
• Integrated avionics module and Electro-Mechanical actuators for control.
• Thermal batteries and PCB warheads used for effectiveness.
• Uses a solid propulsion
• Equipped with in-line ejectable booster and long-burn sustainer.
• Developed by multiple DRDO labs:
  • Research Centre Imarat (RCI)
  • Defence Research and Development Laboratory (DRDL)
  • High Energy Materials Research Laboratory (HEMRL)
  • Terminal Ballistics Research Laboratory (TBRL)
• Produced by Development cum Production Partners with support from MSMEs, start-ups, and other production partners.

Recent News:

• In February 2025, India's Defence Research and Development Organisation (DRDO) displayed a new 155 mm ramjet projectile for Bharat Forge Limited's (BFL's) 155 mm/52 calibre Advanced Towed Artillery Gun System (ATAGS) at the Aero India 2025 show in Bangalore.

About DRDO:

• Founded: 1958
• Headquarters: New Delhi, India
• Parent Ministry: Ministry of Defence, Government of India
• Chairman: Dr. Samir V. Kamat

CURRENT AFFAIRS: ACQUISITION & MERGER

InCred Finance Acquires TruCap’s Gold Loan Business

• InCred Finance has acquired TruCap Finance’s gold loan business, marking its entry into the lucrative gold loan market.

Key Highlights:

• In a stock exchange filing, TruCap Finance stated that the total value of the deal is approximately ₹330 crore, subject to certain adjustments.
• The transaction is expected to be finalized by April 30.
• The deal includes the transfer of the ‘Dhanvarsha’ brand name and trademarks from TruCap Finance (a listed NBFC) to InCred Finance.
• This acquisition allows InCred Finance to expand its portfolio and establish a strong foothold in the gold loan segment, a high-demand financial sector in India.
• The acquisition is aimed at strengthening InCred’s secured lending portfolio, especially as the Reserve Bank of India (RBI) tightens scrutiny on unsecured lending by NBFCs and banks. This has prompted many financial institutions to expand their secured loan offerings.
• As part of the acquisition, InCred Finance will gain:
• A network of 115 branches
• A customer base of over 40,000
• More than 550 employees
• Assets under management (AUM) of over ₹650 crore

CURRENT AFFAIRS: SCIENCE & TECHNOLOGY

Zydus Lifesciences Launches India’s First Quadrivalent Flu Vaccine

• Zydus Lifesciences has launched VaxiFlu-4, India’s first quadrivalent influenza vaccine, providing protection against four virus strains based on WHO recommendations.
• Approved by the Central Drug Laboratory (CDL), the vaccine was developed at Zydus’s Vaccine Technology Centre (VTC) in Ahmedabad.
• The company aims to enhance flu prevention and improve healthcare accessibility in India by offering an affordable, high-quality solution.
• Influenza remains a significant public health concern, with seasonal outbreaks causing high mortality worldwide.
• Meanwhile, Zydus Lifesciences’ stock is trading at ₹879.95 as of February 27, 2025, reflecting a slight decline of 34%.

Delhi AIIMS Set to Open Nation's First Digital Addiction Facility

• The All India Institute of Medical Sciences (AIIMS) Delhi is set to launch India’s first Centre for Advanced Research on Addictive Behaviours (CAR-AB) to tackle internet and technology addiction among children and youth.
• Approved by the Indian Council of Medical Research (ICMR), the center will focus on evidence-based solutions for problematic technology use.

Key Highlights:

• Growing Concerns Over Digital Addiction:
• AIIMS Delhi is taking action against excessive and problematic technology use, which has been recognized as a major public health problem.
• Yatan Pal Singh Balhara, faculty in-charge of the Behavioral Addictions Clinic (BAC) at AIIMS, is leading the project.
• Economic Survey Highlights:
• The Economic Survey of India (2024-25) identified excessive internet use as a major cause of mental health issues in children and adolescents.
• It called for school and family-level interventions to mitigate the impact.
• Objectives of CAR-AB:
• Prevention, early detection, and intervention programs for digital addiction.
• Structured initiatives for children and youth struggling with technology dependence.
• Resources for parents, teachers, and healthcare professionals to manage challenges.
• Key Features:
• AI-powered predictive model to identify individuals at risk of excessive technology use, enabling early intervention.
• ₹14 crore budget for research and implementation.
• Collaboration with schools, colleges, IITs, and medical institutions to develop a national response.

National Aeronautics and Space Administration to launch Spherex telescope to find what happened right after the Big Bang

• National Aeronautics and Space Administration (NASA) is set to launch SPHEREx (Spectro-Photometer for the History of the Universe, Epoch of Reionization, and Ices Explorer) aboard a Falcon 9 rocket into low Earth orbit (LEO).
• This $500 million mission aims to map the universe in 3D using near-infrared radiation, providing unprecedented insights into cosmic history and structure.

Key Highlights:

• NASA has been developing SPHEREx for nearly a decade.
• In 2015, the agency selected the proposal for development, approved its prototype design in 2021, began assembly in 2022, and completed final tests at the Jet Propulsion Laboratory (JPL) in 2024.
• The mission is scheduled to launch on Friday, February 28, 2025, aboard SpaceX's Falcon 9 rocket from Vandenberg Space Force Base, California, alongside NASA's PUNCH mission.
• Over a two-year period, SPHEREx will conduct four all-sky surveys, each lasting six months, using 96 near-infrared wavelengths to scan the sky.
• It will map over 450 million galaxies and 100 million stars, including many too faint or distant for existing telescopes to observe.
• Equipped with dual focal plane assemblies, SPHEREx will use a dichroic beam splitter to separate light into 102 different colors, allowing scientists to analyze cosmic structure and composition with unprecedented detail.
• A major scientific focus of SPHEREx is cosmic inflation, the theory that the universe underwent a rapid expansion immediately after the Big Bang.
• The mission aims to provide new evidence supporting this theory while also advancing understanding of galactic evolution, interstellar medium, and the early universe.
• Unlike Hubble or the James Webb Space Telescope, SPHEREx will generate a highly detailed 3D map of the cosmos, significantly enhancing research on cosmic origins.
• The spacecraft's solar array will supply ample power for the entire mission, ensuring continuous data collection.
• Despite its relatively short timeline, SPHEREx is expected to make a groundbreaking contribution to space science, shedding light on the formation of galaxies, cosmic structures, and the origins of celestial bodies.

About NASA:

• Headquarters: Washington, D.C., USA
• Founded: July 29, 1958
• Motto: "For the Benefit of All"

CURRENT AFFAIRS: AWARDS AND HONOURS

Screen Actors Guild (SAG) Awards 2025:

• The 31st Screen Actors Guild (SAG) Awards took place on February 23, 2025, at the Shrine Auditorium & Expo Hall, Los Angeles.
• Hosted by Kristen Bell and streamed live on Netflix, the event honored exceptional performances in film and television over the past year.

Key Highlights of SAG Awards 2025

Jane Fonda Honored with SAG Life Achievement Award

• Jane Fonda received the SAG Life Achievement Award for her remarkable career and humanitarian contributions.
• In her speech, she emphasized the importance of empathy and unions in the entertainment industry.

Significance of SAG Awards

• The SAG Awards are voted on by fellow actors, making them a prestigious recognition in Hollywood.
• They often serve as precursors to the Oscars, influencing Academy Award predictions.
• The 2025 ceremony featured emotional moments, surprise victories, and remarkable performances.

Major Film Category Winners

• Best Cast in a Motion Picture: Conclave (unexpected winner)
• Best Male Actor in a Leading Role: Timothée Chalamet (A Complete Unknown as Bob Dylan)
• Best Female Actor in a Leading Role: Demi Moore (The Substance as Elisabeth)
• Best Male Actor in a Supporting Role: Kieran Culkin (A Real Pain as Benji Kaplan)
• Best Female Actor in a Supporting Role: Zoe Saldaña (Emilia Pérez as Rita)
• Best Stunt Ensemble in a Motion Picture: The Fall Guy

Major Television Category Winners

• Best Drama Series Ensemble: Shōgun
• Best Comedy Series Ensemble: Only Murders in the Building
• Best Male Actor in a Drama Series: Hiroyuki Sanada (Shōgun as Yoshii Toranaga)
• Best Female Actor in a Drama Series: Anna Sawai (Shōgun as Toda Mariko)
• Best Male Actor in a Comedy Series: Martin Short (Only Murders in the Building as Oliver Putnam)
• Best Female Actor in a Comedy Series: Jean Smart (Hacks as Deborah Vance)
• Best Male Actor in a TV Movie/Limited Series: Colin Farrell (The Penguin as Oz Cobb)
• Best Female Actor in a TV Movie/Limited Series: Jessica Gunning (Baby Reindeer as Martha)
• Best Stunt Ensemble in a TV Series: The Fall Guy

CURRENT AFFAIRS: MOUS AND AGREEMENT

Department for Promotion of Industry and Internal Trade and Paytm Collaborate to Boost India’s Startup Ecosystem

• The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to drive innovation and accelerate the growth of manufacturing and fintech startups in India.

Key Objectives of the Collaboration

• Mentorship & Infrastructure Support – Paytm will provide mentorship, infrastructure, market access, and funding opportunities to startups.
• Fintech Hardware Development – The initiative will help fintech hardware startups develop and scale payment and financial technology solutions.
• Regulatory & Compliance Assistance – Workshops and guidance will be organized in collaboration with industry and government bodies.
• Market Access & Testing – Startups will be able to test, validate, and refine their products while leveraging Paytm’s extensive merchant network.

MoU Signing and Leadership Remarks

The MoU was signed by Dr. Sumeet Kumar Jarangal, Director, DPIIT, and Vijay Shekhar Sharma, Founder & CEO, Paytm, in the presence of senior officials.

• Sanjiv, Joint Secretary, DPIIT, highlighted that this partnership is a crucial step in strengthening India’s startup ecosystem, helping entrepreneurs scale their ventures and contribute to India’s emergence as a global innovation hub.
• Vijay Shekhar Sharma, Founder & CEO, Paytm, emphasized that Paytm is committed to empowering entrepreneurs by providing mentorship, financial support, and access to cutting-edge technology under the vision of Prime Minister Narendra Modi.

Paytm for Startups Initiative

Under this initiative, Paytm will launch dedicated programs to support fintech hardware manufacturers, including:

• Soundbox and PoS/EDC device makers for efficient scaling.
• Mentorship programs & investor connections for funding access.
• Regulatory workshops & incubation programs for compliance assistance.
• Periodic tracking & impact assessments to monitor startup progress.
• Support through Paytm Foundation for deep-tech startups in Climate Tech, Web3, Agritech, and Mobility.

India’s Vision as a Global Innovation Hub

• With this collaboration, DPIIT and Paytm reaffirm their commitment to making India a global innovation hub, fostering technological advancements, and driving economic growth.

About Paytm:

• Headquarters: Noida, Uttar Pradesh, India
• Founded: 2010
• Chairman & CEO: Vijay Shekhar Sharma

RECENT NEWS

• India’s DPIIT and South Korea’s KOTI signed an MoU on February 10, 2025, to enhance logistics and infrastructure collaboration. The partnership focuses on knowledge exchange, technology adoption, and master planning under PM GatiShakti.

India and European Union to Review Free Trade Talks and Strengthen Strategic Ties

• India and the European Union (EU) are set to assess progress on their ongoing negotiations for a comprehensive free trade agreement (FTA) while shaping a new strategic agenda.
• European Commission President Ursula von der Leyen, along with the EU College of Commissioners, will visit India for two days, engaging in discussions with Prime Minister Narendra Modi and senior Indian ministers.

Key Focus Areas of the India-EU Discussions

Progress on Free Trade Agreement (FTA)

• India and the EU relaunched negotiations for a trade pact in June 2022 after talks were stalled in 2013 due to differences in ambition.
• The proposed FTA, investment protection pact, and geographical indications agreement are crucial elements of the discussions.
• The EU aims for a "commercially meaningful" trade deal, addressing both tariff and non-tariff barriers.
• Key sticking points include tariffs on wine and agricultural products, with the EU prioritizing substance over speed in negotiations.

Strategic and Security Cooperation

• Both sides will explore enhanced cooperation in defense and security, particularly in the Indo-Pacific region.
• The EU considers India a vital partner in countering geopolitical challenges, including China's regional influence.

Ukraine Conflict and EU's Position on Russia

• Ukraine’s security will be a key topic, with von der Leyen expected to brief PM Modi on her recent visit to Kyiv.
• The EU will emphasize continued sanctions on Russia and urge India to acknowledge their strategic importance.

Technology and Trade Collaboration Under the TTC

• India and the EU will review their partnership under the India-EU Trade and Technology Council (TTC), established in February 2023.
• The TTC focuses on AI, quantum computing, semiconductors, and cybersecurity, fostering deeper technological cooperation.
• Notably, this is the EU’s second such technology partnership, the first being with the United States in June 2021.

Leyen’s Previous Visits to India

• This marks her third visit to India, following a bilateral trip in April 2022 and participation in the G20 Leaders’ Summit in September 2023.
• The visit is expected to lay the groundwork for a major India-EU summit in the second half of 2025, where the new strategic roadmap will be unveiled.

CURRENT AFFAIRS: IMPORTANT DAYS

World Protein Day: February 27

• World Protein Day, observed annually on February 27, aims to raise awareness about the importance of protein in human nutrition.
• It highlights the health benefits of adequate protein intake while addressing the challenges of protein deficiency.
• This observance also emphasizes the role of protein-rich foods in ensuring global nutritional security, promoting better health and well-being worldwide.

History of World Protein Day

• Initiated by the US Soybean Export Council (USSEC) to educate people on the importance of protein in nutrition and health.
• Established to spread awareness about adequate protein intake to prevent deficiencies and related health issues.
• Over the years, it has evolved into a global campaign with participation from organizations, institutions, nutrition experts, and individuals.
• In India, National Protein Day is also observed on February 27, aligning with the global initiative.

National Science Day 2025: February 28

• National Science Day is celebrated on 28th February every year to honor the discovery of the Raman Effect by Sir C.V. Raman while working at the Indian Association for the Cultivation of Science, Kolkata.
• His groundbreaking discovery earned him the Nobel Prize in 1930.

Theme & Vision for 2024

• The theme for National Science Day 2024 is "Empowering Indian Youth for Global Leadership in Science & Innovation for VIKSIT BHARAT".
• It underscores the role of young minds in shaping India's scientific and technological future, aligning with Viksit Bharat 2047, a vision for a self-reliant and developed India.

Key Scientific & Technological Advancements: 2024 Highlights

India’s Global Standing in Science & Innovation

• Ranked 39th in the Global Innovation Index 2024.
• Secured 6th position in global Intellectual Property (IP) filings (WIPO Report).
• Network Readiness Index (NRI) 2024: Improved ranking from 79th (2019) to 49th (2024).

Anusandhan National Research Foundation (ANRF)

Launched under the ANRF Act 2023, the foundation fosters scientific research & innovation through key programs:

• PM Early Career Research Grant (PMECRG): Supports young researchers.
• EV Mission: Advances electric vehicle technology for sustainability.
• PAIR Model: Enhances institutional collaboration in scientific research.
• Inclusivity Research Grant (IRG): Provides funding for SC/ST researchers.

National Quantum Mission (NQM): Advancing Quantum Technology

• ₹6003.65 crore investment over eight years to drive quantum computing, communication, and sensing.
• 152 researchers from 43 institutions contributing to groundbreaking research.
• Startup support framework introduced for funding and mentorship.

National Supercomputing Mission (NSM): Expanding Computational Power

• India’s supercomputing capacity expanded to 32 PetaFlops (added 5 PetaFlops in 2024).
• Largest system at IUAC, New Delhi with 3 PetaFlops computing power.
• Roadmap to reach 77 PetaFlops with indigenous technology.

Artificial Intelligence & Cyber-Physical Systems

• BharatGen Initiative: Development of India’s first multimodal, multilingual Large Language Model (LLM) for Generative AI (GenAI).
• Quantum Tech Startups: Eight startups funded under the I-HUB Quantum Technology Foundation, IISER Pune.
• Four top-performing Technology Innovation Hubs (TIHs) to be upgraded into Technology Translation Research Parks (TTRPs).

Daily CA One- Liner: February 28

• IIT Madras, in partnership with Indian Railways, has established India’s inaugural hyperloop test track within the IIT campus
• The Government e-Marketplace (GeM) marked six years of its Startups, Women & Youth Advantage through e-Transactions (SWAYATT) initiative at its headquarters in New Delhi.
• The Cali Fund for the Fair and Equitable Sharing of Benefits from Digital Sequence Information on Genetic Resources (DSI) was launched today at the resumed session of COP16 of the Convention on Biological Diversity (CBD) at the FAO Headquarters in Rome
• Prime Minister Narendra Modi inaugurated the Advantage Assam 2.0 Investment and Infrastructure Summit 2025 in Guwahati, marking a major milestone in Assam’s economic development
• The 49th Civil Accounts Day will be celebrated on 1st March 2025 in New Delhi, marking the Foundation Day of the Indian Civil Accounts Service (ICAS).
• The 31st Screen Actors Guild (SAG) Awards took place on February 23, 2025, at the Shrine Auditorium & Expo Hall, Los Angeles.
• The Department for Promotion of Industry and Internal Trade (DPIIT), Government of India, has signed a Memorandum of Understanding (MoU) with Paytm (One97 Communications Limited) to drive innovation and accelerate the growth of manufacturing and fintech startups in India
• India and the European Union (EU) are set to assess progress on their ongoing negotiations for a comprehensive free trade agreement (FTA) while shaping a new strategic agenda
• The Securities and Exchange Board of India (SEBI) has imposed a penalty of ₹5.05 crore on Indian Clearing Corporation (ICCL), a wholly owned subsidiary of BSE, for alleged violations related to cybersecurity and system audit norms.
• Go Digit General Insurance Limited (Digit Insurance) has partnered with M. Dastur Reinsurance Brokers (KMD) to introduce one of India’s first AQI-based parametric insurance policies for migrant construction workers in Delhi NCR.
• The Union Government has approved the construction of the Arunachal Frontier Highway, a massive infrastructure project aimed at enhancing connectivity in border areas, Union Minister Kiren Rijiju
• Prime Minister Narendra Modi will witness the “biggest ever” Jhumur event at Sarusajai Stadium, Guwahati, during Jhumoir Binandini 2025.
• The Bodoland Territorial Region (BTR) government has added "Bathouism" as an official religious option in various application forms.
• Delhi Chief Minister Rekha Gupta welcomed well-wishers at her residence on February 27, 2025, ahead of proposing BJP MLA Mohan Singh Bisht for the Deputy Speaker post in the Delhi Assembly.
• The Defence Research & Development Organisation (DRDO) and the Indian Navy successfully conducted flight trials of the first-of-its-kind Naval Anti-Ship Missile (NASM-SR) on February 25, 2025, at the Integrated Test Range (ITR), Chandipur,
• InCred Finance has acquired TruCap Finance’s gold loan business, marking its entry into the lucrative gold loan market.
• Zydus Lifesciences has launched VaxiFlu-4, India’s first quadrivalent influenza vaccine, providing protection against four virus strains based on WHO recommendations.
• The All India Institute of Medical Sciences (AIIMS) Delhi is set to launch India’s first Centre for Advanced Research on Addictive Behaviours (CAR-AB) to tackle internet and technology addiction among children and youth.
• NASA is set to launch SPHEREx (Spectro-Photometer for the History of the Universe, Epoch of Reionization, and Ices Explorer) aboard a Falcon 9 rocket into low Earth orbit (LEO).
• World Protein Day, observed annually on February 27, aims to raise awareness about the importance of protein in human nutrition
• National Science Day is celebrated on 28th February every year to honor the discovery of the Raman Effect by Sir C.V. Raman while working at the Indian Association for the Cultivation of Science, Kolkata