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CURRENT AFFAIRS: BANKING & FINANCE
Easebuzz Secures Reserve Bank of India’s License for Online Payment Aggregation
- Easebuzz, a full-stack payment solutions provider, has received final authorization from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA) under the Payment and Settlement Systems Act, 2007.
- This approval enables Easebuzz to continue facilitating digital payments for businesses across sectors like eCommerce, Education, Real Estate, and Travel & Tourism.
Key Highlights:
- Easebuzz joins a select group of approved payment aggregators in India, authorized under RBI’s regulatory framework.
- The platform is currently processing an annual Gross Transaction Value (GTV) of USD 30 billion.
- Serving over 2,00,000 businesses, including SMEs and startups.
- Easebuzz is evolving into a full-stack financial operating system by expanding into B2B Payments.
- Launched an invoice management and payments platform in partnership with NPCI Bharat BillPay (NBBL).
- Certified as a Biller Operating Unit (BOU) on the Bharat Bill Payment System (BBPS).
- Revenue surged to INR 290 crore in FY24 and is expected to cross INR 600 crore in FY25.
- Daily transaction processing volume exceeded 1 million
- Easebuzz has been profitable since inception.
- With RBI authorization, B2B expansion, and strong financial growth, Easebuzz is solidifying its position as a leading payment solutions provider in India.
- The company continues to contribute to India’s digital economy by offering secure, efficient, and scalable payment solutions.
What is a Payment Aggregator?
- Online payment aggregators are companies that facilitate online payments by acting as intermediaries between the customer and the merchant.
- The RBI introduced Guidelines for Regulating PAs and Payment Gateway in March 2020.
- Reserve Bank of India (RBI) has given in-principle approval to firms to operate as Online Payment Aggregators (PA), under the Payment and Settlement Systems Act, 2007 (PSS Act).
Recent News:
- In January 2025, Skydo Technologies received in-principle approval from the RBI to operate as a Payment Aggregator-Cross Border entity.
About RBI :
- Established : 1 April 1935
- Headquarters : Mumbai, Maharashtra, India
- Governor : Sanjay Malhotra
Securities and Exchange Board of India proposes new framework to handle unclaimed funds, securities
- The Securities and Exchange Board of India (SEBI) has proposed a new framework to address unclaimed funds and securities lying with stock brokers to protect investors’ interests.
- As of January 31, the total value of unclaimed funds had reached ₹323 crore, while unclaimed securities were valued at ₹182 crore.
Key Highlights:
- Unclaimed securities arise due to incomplete or incorrect demat account details or the non-traceability of clients, legal heirs, or nominees.
- SEBI has proposed that if a client is unreachable or funds cannot be credited to their bank account, the accounts will be placed under “enquiry status”.
- Stock brokers must attempt to contact clients through all available means and transfer such funds to clearing corporations.
- If securities remain in the “enquiry status” for over 30 days, they will be classified as unclaimed securities.
- Funds that remain unclaimed for a year will be transferred quarterly to a dedicated bank account of the designated stock exchange.
- Unclaimed funds held for over 3 years will be transferred to the Investor Protection Fund (IPF).
- Stock exchanges and brokers will provide a search facility on their websites for clients, nominees, and legal heirs to check and claim unclaimed funds and securities.
Recent News:
- In February 2025, SEBI is planning a secure UPI payment mechanism to ensure investor safety and prevent fraud in capital markets & the proposal includes unique UPI IDs for registered intermediaries, a verification icon for authenticity, and an increased UPI transaction limit of ₹5 lakh per day (up from ₹2 lakh).
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.
Union Bank, Bank of India Update External Benchmark Lending Rates After Reserve Bank of India Repo Rate Adjustment
- Public-sector lender Union Bank of India has revised its External Benchmark Lending Rate (EBLR) to 9.0% from February 11, 2025.
- This follows Reserve Bank of India’s decision to reduce policy repo rate by 25 basis points to 6.25% on February 07, 2025.
- Another Mumbai-based lender Bank of India has revised its repo-based lending rate (RBLR) to 9.10% (repo rate – 6.25% plus mark up of 2.85%).
About External Benchmark Lending Rate:
- EBLR is linked to external benchmarks, like the repo rate set by the Reserve Bank of India (RBI).
- EBLR is used to determine interest rates for home loans, retail loans, and micro and small business loans.
- When the repo rate changes, the EBLR also changes.
- This directly affects how much you pay on your loans.
About Repo Linked Benchmark Lending Rate:
- Repo Linked Benchmark Lending Rate (RBLR) means reference rate for your loan, which is benchmarked, to the Repo Rate published on a predetermined date by the Reserve Bank of India from time to time.
- The RBLR will be determined by adding a markup (part of spread) to the Repo Rate published by RBI as detailed in the Schedule.
RESERVE BANK OF INDIA IMPOSES RS 35.60 LAKH PENALTY ON FEDERAL BANK AND KARUR VYSYA BANK FOR NON-COMPLIANCE WITH DIRECTIONS
- Reserve Bank of India (RBI) imposed a penalty of Rs 35.60 lakh on Federal Bank Ltd and Karur Vysya Bank Ltd for non-compliance with RBI directions.
- Federal Bank received the highest penalty of Rs 27.30 lakh for non-compliance with directions on interest rates of deposits.
- A statutory inspection by RBI revealed that Federal Bank opened certain savings deposit accounts in the name of ineligible entities.
- Karur Vysya Bank was fined Rs 8.30 lakh for failing to comply with directions regarding loan systems for bank credit delivery.
- RBI found that Karur Vysya Bank did not ensure that the outstanding loan amount was at least the required percentage of the sanctioned working capital limit for certain borrowers.
- The penalties were imposed after considering the reply and submissions from both banks during their personal hearing.
- RBI clarified that the penalties are based on regulatory compliance deficiencies and are not a judgment on the validity of any transaction or agreement between the banks and their customers.
About Federal Bank:
- Founded: 1931
- Headquarters: Aluva, Kerala, India
- Managing Director & CEO: KVS Manian
- Tagline: “Your Perfect Banking Partner”
About Karur Vysya Bank:
- Founded: 1916
- Headquarters: Karur, Tamil Nadu, India
- Managing Director & CEO: B. Ramesh Babu
- Tagline: “Smart Way to Bank”
RESERVE BANK OF INDIA TO INJECT RS 2.5 LAKH CRORE TO ENHANCE LIQUIDITY IN BANKING SYSTEM
- Reserve Bank of India injects Rs 2,50,000 crore to enhance banking system liquidity through a Variable Rate Repo (VRR)
- The Rs 2,50,000 crore amount was decided based on an assessment of liquidity conditions.
- Daily VRR auctions will continue in Mumbai on all working days, with reversal occurring on the next working day until further notice.
- RBI Governor Sanjay Malhotra assured that the central bank is committed to providing sufficient liquidity and will take steps to ensure durable liquidity.
- The RBI is closely monitoring the rupee and taking steps to keep the Indian currency stable.
- A Morgan Stanley report suggests the RBI may proactively manage liquidity and consider additional measures like OMO purchases or FX swaps as liquidity deficit rises towards end-March.
- The RBI Governor highlighted the trade-off between stability and efficiency in formulating regulations.
- The RBI has deferred the implementation of Liquidity Coverage Ratio (LCR) and project financing norms by a year, with new implementation scheduled for March 31, 2026.
- Public and private sector banks had opposed the original March 2025 deadline, fearing it would cause a liquidity crisis in the financial system.
CURRENT AFFAIRS: NATIONAL NEWS
The Ministry of Housing and Urban Affairs Launches ‘Culinary, Crafts & Clicks – Moods & Magic’ Festival
- The Ministry of Housing and Urban Affairs (MoHUA), in collaboration with MyGov, has introduced the ‘Culinary, Crafts & Clicks—Moods & Magic’ festival.
- This initiative aims to showcase India’s rich cultural heritage through food, traditional arts, and photography.
- The festival, which is being held at key locations like Kartavya Path and Amrit Udyan, features artisans, photographers, and food enthusiasts.
Key Highlights of the Festival
- ‘Moods & Magic’ Photography Contest
A major attraction of the festival is the ‘Moods and Magic’ photography contest, which invites photographers to capture India’s public spaces and cultural vibrancy through:
- Families enjoying gardens.
- Children exploring nature.
- Artisans displaying traditional crafts.
- Workers maintaining the festival environment.
- Prizes & Recognition
An expert panel, including renowned photographers and MoHUA officials will judge the contest.
Cash Prizes for Top Winners:
- First Prize – ₹50,000
- Second Prize – ₹30,000
- Third Prize – ₹20,000
Spotlight Awards (₹5,000 each) for Special Categories:
- Best Candid Moment
- Most Vibrant Mood
- Best Cultural Engagement
- Connecting with Past Initiatives
The festival aligns with MoHUA’s broader mission of promoting cultural engagement in urban spaces. It follows previous initiatives like:
- ‘Bharat Parv’ at Red Fort – Showcasing India’s diverse heritage.
- ‘Shilp Samagam Mela’ at Dilli Haat – Promoting artisans and traditional crafts.
President Droupadi Murmu Inaugurates International Conference on Unani Medicine in New Delhi
- President Droupadi Murmu inaugurated the International Conference on Unani Medicine at Vigyan Bhawan, New Delhi, organized by the Central Council for Research in Unani Medicine (CCRUM) under the Ministry of Ayush.
- Themed “Innovations in Unani Medicine for Integrative Health Solutions – A Way Forward”, the event marked Unani Day celebrations and emphasized the role of Unani medicine in modern healthcare.
Why is Unani Day Important?
- Unani Day is observed in honor of Hakim Ajmal Khan, a legendary Unani physician, freedom fighter, and educationist.
- Since 2016, this day has been celebrated to recognize his contributions to Unani medicine in India.
- President Murmu highlighted the importance of continuous innovation to ensure Unani medicine remains relevant in today’s healthcare system.
Key Highlights of the Conference
- Global Participation – Experts from USA, South Africa, Iran, Malaysia, UAE, Tajikistan, Uzbekistan, Sri Lanka, and Bangladesh attended.
- Discussion Topics –
- Global collaboration in Unani research.
- Modernizing Unani medicine using AI and molecular biology.
- Promoting Unani’s role in holistic healthcare.
- Key Speakers
- Jitendra Singh, Minister of State (Independent Charge) – Stressed the need for scientific validation of Unani medicine through advanced research.
- Shri Prataprao Jadhav, Union Minister of State (Independent Charge) – Emphasized the integration of traditional knowledge with modern science for better effectiveness.
CURRENT AFFAIRS: STATE NEWS
Gujarat government unveils policy for setting up 250 new Global Capability Centres
- Gujarat’s Global Capability Centre (GCC) Policy 2025-30 was unveiled by Chief Minister Bhupendra Patel at GIFT City on February 11, 2025.
- The policy aims to attract 250 new GCCs, generate over 50,000 jobs, and bring in ₹10,000 crore in investments.
- Companies setting up GCCs in Gujarat will receive capital expenditure support of up to ₹200 crore, depending on the scale of investment. Additionally, operational expenditure assistance of up to ₹40 crore is assured.
Key Highlights:
- To encourage local hiring, the government will provide a one-time reimbursement covering 50% of one month’s CTC for newly recruited employees, capped at ₹50,000 for men and ₹60,000 for women.
- Skill development initiatives will be backed by 75% reimbursement for students and 50% for professionals.
- The policy includes a 7% interest subsidy on term loans, full reimbursement of electricity duty, and support for employer contributions to the Employees’ Provident Fund (EPF), with 100% reimbursement for female employees and 75% for male employees.
- Companies pursuing quality certifications will also be eligible for financial assistance covering up to 80% of certification costs, subject to a maximum of ₹10 lakh.
- Karnataka was the first state in India to introduce a dedicated GCC policy in 2024, targeting 500 new GCCs by 2029, creating 5 lakh jobs, and generating an economic output of $50 billion.
- GCCs have seen rapid growth in India, with projections indicating they will contribute 5% to India’s GDP by 2030 and generate $121 billion in revenue.
- The Union Budget 2025-26 included a national framework for GCCs, announced by Finance Minister Nirmala Sitharaman, to guide states in promoting GCCs.
Recent News:
- In February 2025, The Gujarat government declared Guneri village’s inland mangrove in Kutch as the state’s first Biodiversity Heritage Site.
About Gujarat:
- Chief Minister: Bhupendra Patel
- Governor: Acharya Devvrat
- Capital: Gandhinagar
- National Parks: Gir National Park, Blackbuck National Park, Vansda National Park, Marine National Park
- Wildlife Sanctuaries: Nal Sarovar Bird Sanctuary, Velavadar Blackbuck Sanctuary, Kutch Desert Wildlife Sanctuary, Barda Wildlife Sanctuary, Purna Wildlife Sanctuary
Assam set to host world’s largest Jhumur dance festival: Himanta Biswa Sarma
- Assam will host the world’s largest Jhumur dance (also called Jhumoir) on 24th February, in the presence of Prime Minister Narendra Modi.
- The performance aims to set a Guinness World Record, featuring over 7,500 dancers and artistes.
- The two-day investment summit Advantage Assam will take place on February 25-26, showcasing Assam’s rich traditions and attracting investors.
- The event is a platform to promote Assam’s culture and position the state as a new investment destination.
- Preparations for the cultural event include master training workshops, district-level performances, and final rehearsals in Guwahati.
- Assam had previously set a Guinness World Record for the biggest Bihu dancing performance.
- The goal of Advantage Assam 2.0 is to increase infrastructure development and investment in the state.
- The summit is expected to attract global investors, reinforcing Assam’s growing reputation as a business-friendly state.
- Chief Minister Himanta Biswa Sarma emphasized Assam’s improved peace and security and ease of doing business as key factors driving the state’s investment potential.
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
CURRENT AFFAIRS: BUSINESS NEWS
THDC India Limited Begins Commercial Operations of 660-MW Unit at Khurja Thermal Plant
- THDC India Ltd (THDCIL) has entered the domestic thermal energy sector by commencing commercial operations of a 660-MW unit at the Khurja Super Thermal Power Plant (STPP) in Bulandshahr, Uttar Pradesh.
- The project, with a total capacity of 1,320 MW (2×660 MW) and an investment of ₹13,000 crore, marks a significant milestone for THDCIL.
- The second unit is expected to begin operations soon.
Key Highlights of THDC’s Thermal Power Expansion
Project Overview
- THDCIL’s first venture into thermal power, after operating in hydro, wind, and solar energy.
- Capacity: 1,320 MW (2×660 MW), with the first unit operational and the second unit to start soon.
- Investment: ₹13,000 crore.
- Location: 1,200.843 acres in Bulandshahr, Uttar Pradesh.
- Coal Linkage: From Amelia coal mine, Singrauli, Madhya Pradesh.
Power Generation & Distribution
- Annual Power Generation: 9,264 million units (MUs) with an 85% Plant Load Factor (PLF).
- Power Allocation:
- 7% (854 MW) for Uttar Pradesh.
- 3% for Rajasthan.
- 9% for Uttarakhand.
- 1% for other regions.
THDCIL’s Expanding Energy Portfolio
- Prior to this, THDCIL was generating:
- 1,424 MW from hydropower.
- 113 MW from wind energy.
- 50 MW from solar energy.
- The addition of thermal power strengthens India’s energy security and expands THDC’s diversified portfolio.
Company & Ownership
- THDC India Ltd is a joint venture (75:25) between:
- NTPC Ltd (Govt. of India) – 75%.
- Uttar Pradesh government – 25%.
- Headquartered in Rishikesh, Uttarakhand.
About UP
- Capital: Lucknow
- Chief minister: Yogi Adityanath
- Governor: Anandiben Patel
- WLS: Bakhira Wildlife Sanctuary, Chandraprabha Wildlife Sanctuary, Hastinapur Wildlife Sanctuary, Kaimur Wildlife Sanctuary
CURRENT AFFAIRS: AWARDS AND HONOURS
Indian Students Win Bronze at Global Best M-Gov Award 2025
- Three Indian Computer Science students from Maharaja Agrasen Institute of Technology, New Delhi, secured the Bronze Award at the Global Best M-Gov Award 2025 during the World Government Summit (WGS) in Dubai.
- Their AI-powered app, AccessWay, was recognized for its role in enhancing mobile government services and social inclusion for individuals with disabilities.
- The award was presented by Mansour bin Zayed Al Nahyan, Vice President of the UAE, along with a cash prize of $10,000.
Key Highlights
Winners
- Sagar Teotia (Team Lead)
- Abhinav Mishra
- Anushka Singh
- All are fourth-semester Computer Science students from Maharaja Agrasen Institute of Technology, Delhi.
Winning Project – AccessWay App
- AI-powered platform integrating Augmented Reality (AR), Artificial Intelligence (AI), and crowdsourced data.
- Provides accessible navigation, social connections, and emergency assistance for people with disabilities.
Award Details
- Event: World Government Summit (WGS) 2025
- Category: Global Best M-Gov Award 2025
- Prize: Bronze Medal & $10,000
- Presented by: Mansour bin Zayed Al Nahyan (UAE Vice President)
- Recognized for its scalability, innovation, and social impact.
Competition Overview
- Organizer: UAE Government as part of WGS 2025
- Entries: Over 3,500 submissions from 74 countries
- Finalists: 60 projects, with 6 winners
- Encourages students, startups, and government entities to develop tech-driven solutions for governance.
CURRENT AFFAIRS: RANKING AND INDEX
Corruption Perceptions Index (CPI) 2024: India’s Rank Drops to 96th
- Transparency International has released the Corruption Perceptions Index (CPI) 2024, ranking India at 96th position out of 180 countries with a score of 38.
- This marks a decline from 39 in 2023 and 40 in 2022, reflecting growing concerns over public sector corruption.
- The CPI measures perceived levels of corruption on a scale from 0 (highly corrupt) to 100 (very clean).
Key Findings of CPI 2024
India’s Ranking and Score
- Rank: 96th out of 180 countries.
- Score: 38 (Down from 39 in 2023 and 40 in 2022).
- Past Rankings: 93rd in 2023, 40th in 2022.
Global and Regional Rankings
- Least Corrupt Nations:
- Denmark (1st)
- Finland (2nd)
- Singapore (3rd)
- Most Corrupt Nations:
- South Sudan – Lowest score (8 points), displacing Somalia.
- Somalia – 9 points.
- Venezuela – 10 points.
- Syria – 12 points.
- India’s Neighbors:
- China: 76th
- Pakistan: 135th
- Sri Lanka: 121st
- Bangladesh: 149th
Global Corruption Trends
- United States: Dropped from 69 to 65 points, ranking 28th (down from 24th).
- France: Fell from 71 to 67 points, ranking 25th (down from 20th).
- Germany: Dropped from 78 to 75 points, ranking 15th (down from 9th).
- Mexico: Fell five points to 26 due to judicial inaction on corruption.
- Russia: Declined from 26 to 22 points, further impacted by its invasion of Ukraine.
- Ukraine: Dropped one point to 35, but improved in judicial independence and anti-corruption efforts.
Trends in Corruption Levels
- 32 countries have reduced corruption levels since 2012.
- 148 countries have either stagnated or worsened in the same period.
- Global average CPI score remains at 43, indicating limited improvement.
- More than two-thirds of countries score below 50, showing widespread corruption issues.
India’s Performance in the World Bank’s Logistics Performance Index (LPI) 2023
- India has made significant progress in the World Bank’s Logistics Performance Index (LPI) 2023, achieving:
- 22nd Rank in the International Shipments category
- 38th Rank in Overall Logistics Performance
This reflects India’s enhanced efficiency in logistics, particularly in port operations and freight movement.
Key Achievements: Turnaround Time at Indian Ports
India’s ports have significantly reduced their turnaround time to 0.9 days, surpassing several developed nations.
Global Comparison (Turnaround Time in Days):
- India – 0.9 days (better than major economies)
- USA – 1.5 days
- Australia – 1.7 days
- Belgium – 1.3 days
- Canada – 2.0 days
- Germany – 1.3 days
- UAE – 1.1 days
- Singapore – 1.0 days
- Russia – 1.8 days
- Malaysia – 1.0 days
- Ireland – 1.2 days
- Indonesia – 1.1 days
- New Zealand – 1.1 days
- South Africa – 2.8 days
Maritime Amrit Kaal Vision 2047: Transforming India’s Maritime Sector
The Maritime Amrit Kaal Vision 2047 aligns with blue economy principles and aims to revolutionize India’s maritime sector.
Global Maritime India Summit (GMIS) 2023: Investment Commitments
- Total Investment Commitment: ₹10 lakh crore
- MoUs Signed: 360 agreements
- ₹8.35 lakh crore (including international collaborations)
- Additional Investible Projects Announced: ₹1.68 lakh crore
CURRENT AFFAIRS: DEFENCE
Adani Defence & Aerospace and Defence Research and Development Organisation (DRDO) Unveil India’s Vehicle-Mounted Counter-Drone System at Aero India 2025
- India’s Vehicle-Mounted Counter-Drone System was launched at Aero India 2025 under a public-private partnership, developed under DRDO’s Transfer of Technology (ToT) framework.
- The system enhances India’s self-reliance in defence and strengthens protection against asymmetric drone threats, reinforcing India’s position as a global defence leader.
- Adani Defence & Aerospace, in collaboration with Defence Research and Development Organisation (DRDO) unveiled the system in Bengaluru.
- The launch event was led by B.K. Das, Director General (Electronics & Communication System), DRDO, with the presence of defence experts and industry partners.
Key Highlights:
- The system is designed to counter reconnaissance and offensive drone threats, ensuring long-range protection, agility, and precision.
- Equipped with advanced sensors, it provides automatic detection, classification, and neutralization of drones.
- Integrated onto a single 4×4 vehicle, the system is highly mobile, agile, reliable, and self-sufficient.
- It features a high-energy laser system for precise drone neutralization, a 62 mm gun for aerial threat engagement, and advanced radar, SIGINT, electro-optical sensors, and jammers for real-time target tracking and neutralization within a range of 10 km.
- The integration of multiple counter-drone technologies ensures rapid response and operational flexibility, making it a critical asset for India’s defence infrastructure.
- DRDO remains committed to developing next-generation indigenous solutions in collaboration with Indian industry to strengthen national security.
- The launch underscores India’s commitment to reducing reliance on imports and bolstering national security through indigenous innovation.
- As unmanned aerial threats evolve, the collaboration between Adani Defence & Aerospace and DRDO marks a significant milestone in advancing India’s defence capabilities.
- Aero India 2025 serves as a global platform to showcase India’s advancements in aerospace and defence, reaffirming the country’s position as a key player in the global defence sector.
Recent News:
- In February 2025, DRDO announced a major restructuring of its Research Verticals and Thrust Areas across DIA-CoEs, increasing them from 65 to 82 to enhance defense R&D.
About DRDO:
- Founded: 1958
- Headquarters: New Delhi, India
- Parent Ministry: Ministry of Defence, Government of India
- Chairman: Dr. Samir V. Kamat
CURRENT AFFAIRS: SCIENCE & TECHNOLOGY
Indian Institute of Technology Madras & Indian Space Research Organisation (ISRO) jointly developed and successfully booted an Atmanirbhar aerospace quality SHAKTI-based Semiconductor Chip
- Indian Institute of Technology Madras (IIT Madras) and Indian Space Research Organisation have successfully developed and booted an Atmanirbhar aerospace-quality SHAKTI-based Semiconductor Chip.
- The SHAKTI microprocessor project is led by V. Kamakoti at the Prathap Subrahmanyam Centre for Digital Intelligence and Secure Hardware Architecture (PSCDISHA), IIT Madras.
Key Highlights:
- The SHAKTI systems are based on RISC-V, an open-source Instruction Set Architecture (ISA) for custom processor design.
- It is backed by the Ministry of Electronics and Information Technology under the ‘Digital India RISC-V’ (DIRV) initiative, aiming to promote indigenous microprocessor development with enhanced security and transparency.
- The ‘IRIS’ (Indigenous RISC-V Controller for Space Applications) Chip was developed from the SHAKTI processor
- It is designed for use in IoT, compute systems, strategic applications, and ISRO’s command and control systems, supporting India’s push towards ‘Atmanirbhar Bharat’ in Space Technologies.
- ISRO Inertial Systems Unit (IISU), Thiruvananthapuram, initiated the idea of a 64-bit RISC-V-based Controller and collaborated with IIT Madras for its specifications and design.
- The chip configuration was designed to meet the functional and computing needs of existing ISRO sensors and systems.
- Fault-tolerant internal memories were integrated into the SHAKTI core, enhancing reliability.
- Custom functional and peripheral interface modules, including CORDIC, WATCHDOG Timers, and advanced serial buses, were incorporated.
- Expandability for future space missions was ensured through multiple boot modes and hybrid memory/device extension interfaces.
- The final design underwent software and hardware testing, ensuring high reliability and performance.
- This indigenous semiconductor effort is a milestone in India’s self-reliance in chip manufacturing.
- The project was completely executed in India, involving multiple Indian entities:
- Conceptualized by IISU, Thiruvananthapuram
- Designed and implemented by IIT Madras
- Manufactured by SCL, Chandigarh
- Packaged by Tata Advanced Systems, Perjenahalli, Karnataka
- Motherboard PCB manufactured by PCB Power, Gujarat
- Assembled and mounted by Syrma SGS, Chennai
- Software developed and successfully booted at IIT Madras.
- This development marks a significant milestone in India’s semiconductor ecosystem, strengthening indigenous capabilities and supporting the country’s vision for technological self-reliance.
Recent News:
- In February 2025, ISRO launched FEAST 2025, the latest version of its Finite Element Analysis of Structures (FEAST) software, at IIT Hyderabad during NAFED08.
About ISRO:
- Established: 1958
- Headquarters: New Delhi, India
- Chairman: V. Narayanan
Russia offers technology for India’s Advanced Medium Combat Aircraft and Su-57E production
- Russia has extended an important offer to India regarding advanced fighter jet production, highlighting a new phase of defence collaboration between the two nations.
- Russia’s state-owned defence export company, Rosoboronexport, has proposed the localized production of the Su-57E, the export version of Russia’s 5th-generation fighter jet.
- The offer also includes valuable technological assistance for indigenous Advanced Medium Combat Aircraft (AMCA)
Key Highlights:
- Aero India 2025: Key Developments
- Russia’s Su-57E stealth fighter debuted at Aero India 2025 in Bengaluru, with one aircraft for aerial demonstrations and another for static display.
- The US-made F-35 Lightning II also participated, leading to comparisons between the two fifth-generation fighters.
- India’s Advanced Medium Combat Aircraft (AMCA) is still in development and expected to enter service by 2034.
- Russia’s Su-57E Offer to India
- Russia’s state arms exporter Rosoboronexport has proposed a comprehensive deal for the Su-57E, including:
- Supply of ready-made aircraft.
- Joint production in India.
- Assistance in developing India’s fifth-generation fighter jet.
- United Aircraft Corporation (UAC) assured that production capacity at its Komsomolsk-on-Amur facility can meet domestic and international demands.
- India’s Security Concerns & the Need for Stealth Fighters
- China’s Modernization:
- The People’s Liberation Army Air Force (PLAAF) has over 200 J-20 stealth fighters and may field 1,000 J-20s by 2034.
- China is also developing J-35A and two sixth-generation fighters.
- Pakistan’s Acquisition:
- Pakistan is set to acquire 40 J-35s from China.
- IAF’s Stealth Gap:
- India’s AMCA is not expected to enter service before 2034, creating an urgent need for interim solutions.
- Su-57 vs. F-35 at Aero India 2025
- The F-35 has not been officially offered to India, while Russia is actively pitching the Su-57.
- India’s reluctance to acquire the F-35:
- Would not include transfer of technology (ToT) or joint production.
- Could impact India’s strategic autonomy in defense procurement.
- Su-57’s Limitations:
- Less stealthy than the F-35; designed more for air defense rather than offensive deep strikes.
- Might not suit India’s two-front war strategy against China and Pakistan.
- Rafale as a Better Alternative?
- Experts argue that instead of choosing between F-35 and Su-57, India should expand its fleet of combat-proven Rafale fighters.
- Multi-Role Fighter Aircraft (MRFA) Procurement:
- India issued an RFI in 2018 to procure 114 multi-role fighters, but the process remains slow.
- Experts suggest acquiring additional Rafale F4 and Rafale F5
- IAF Veterans’ Views:
- Air Marshal Anil Khosla (retd): Recommends expanding Rafale orders for better compatibility and interoperability.
- Air Marshal Anil Chopra (retd): Suggests acquiring Rafale F4 under MRFA and Rafale F5 as an interim fifth-gen solution.
- Rafale vs. Su-57: Capability Comparison
- Su-57 (Fifth-Gen) vs. Rafale (4.5-Gen):
- Stealth: Su-57 has better radar cross-section (RCS) reduction, but Rafale F4/F5 features advanced detection systems.
- Combat Performance: Rafale has proven air-to-air combat capability, including defeating an F-22 Raptor in a simulated battle in 2009.
- Electronic Warfare (EW): Rafale F5 will feature enhanced SEAD/DEAD capabilities and next-gen sensor fusion.
- India’s Final Decision: Strategic and Geopolitical Considerations
- Advantages of Rafale Expansion:
- Already operated by the IAF (36 jets) and adopted by the Indian Navy (26 Rafale M).
- Supports Make in India with potential local production.
- Less risk of geopolitical complications compared to buying from Russia or the US.
- Russia’s Su-57 Pitch:
- Offers potential hypersonic weapon integration and improved avionics.
- Faces concerns about production capacity due to Ukraine war sanctions.
CURRENT AFFAIRS: SPORTS NEWS
Meghalaya to Host 39th National Games in 2027
- The Indian Olympic Association (IOA) has officially announced that Meghalaya will host the 39th edition of the National Games in February/March 2027.
- The decision was conveyed by IOA President PT Usha to Meghalaya Chief Minister Conrad Sangma, marking a major milestone for the northeastern state.
Key Highlights
Official Announcement
- Meghalaya has been granted hosting rights for the 39th National Games in 2027 by the IOA.
Handover Ceremony
- Meghalaya will receive the IOA flag during the closing ceremony of the 38th National Games in Uttarakhand (Haldwani).
- IOA President PT Usha confirmed the decision in a letter to CM Conrad Sangma, inviting him to the closing ceremony.
Previous and Upcoming Hosts
- 38th Edition (2024): Uttarakhand (held in seven cities, main venue: Dehradun)
- 37th Edition (2023): Goa (held in five cities)
- 36th Edition (2022): Gujarat
- 35th Edition (2015): Kerala
- 39th Edition (2027): Meghalaya
Frequent Hosting in Recent Years
- With Meghalaya hosting in 2027, four National Games will have been held within five years, marking a revival of the event after previous delays.
RECENT NEWS
- Every year on January 21, the northeastern states of Manipur, Meghalaya, and Tripura celebrate their Statehood Day, marking the historic moment they attained full statehood under the North Eastern Region (Reorganization) Act of 1971.
About Meghalaya
- Capital: Shillong
- Chief minister: Conrad Sangma
- Governor: C. H. Vijayashankar
Pankaj Advani Clinches 36th National Title, Wins 10th Men’s Snooker Championship
- Pankaj Advani, India’s most decorated cueist, secured his 36th national title and 10th men’s snooker championship at Yashwant Club.
- In an impressive comeback, he defeated Brijesh Damani in the final, avenging his group-stage loss.
- This victory guarantees his place in upcoming international championships, further solidifying his status as a cue sports legend.
Key Highlights
- Secured 36th national gold medal and 10th men’s snooker title.
- The tournament serves as India’s sole selection event for the Asian and World Championships.
Final Match Performance
- Faced Brijesh Damani in the final.
- Lost the opening frame but made a strong comeback, conceding only one frame in the match.
- Sealed the final frame with an impressive 84 break.
CURRENT AFFAIRS: IMPORTANT DAYS
World Radio Day 2025: 13th February
- World Radio Day is celebrated on 13 February is a date proclaimed by UNESCO to celebrate radio broadcasts, improve international cooperation among radio broadcasters and encourage decision-makers to create and provide access to information through radio, including community radios.
- Many people in history have contributed to perfecting radio waves and frequencies, but it was Italian inventor Guglielmo Marconi who proved the feasibility of communication over the radio.
- He sent and received a telegram over the first radio signal in history from Italy in 1895.
- The first radio station in America was established in Pittsburgh in 1919, and the FM radio debuted in 1939.
- Broadcasting over radio went digital in 1994 when radio streaming started via the internet. This was accompanied by the first internet-only 24-hour radio station. In 2011, at the 36th session of UNESCO’s General Conference, February 13 was proclaimed as World Radio Day.
- This date was chosen by UNESCO’s director-general as it was the anniversary date of the United Nations International Broadcasting Service, which was created on February 13, 1946.
Daily CA on February 13
- The Ministry of Housing and Urban Affairs (MoHUA), in collaboration with MyGov, has introduced the ‘Culinary, Crafts & Clicks—Moods & Magic’ festival
- President Droupadi Murmu inaugurated the International Conference on Unani Medicine at Vigyan Bhawan, New Delhi, organized by the Central Council for Research in Unani Medicine (CCRUM) under the Ministry of Ayush
- THDC India Ltd (THDCIL) has entered the domestic thermal energy sector by commencing commercial operations of a 660-MW unit at the Khurja Super Thermal Power Plant (STPP) in Bulandshahr, Uttar Pradesh.
- Three Indian Computer Science students from Maharaja Agrasen Institute of Technology, New Delhi, secured the Bronze Award at the Global Best M-Gov Award 2025 during the World Government Summit (WGS) in Dubai.
- Transparency International has released the Corruption Perceptions Index (CPI) 2024, ranking India at 96th position out of 180 countries with a score of 38.
- India has made significant progress in the World Bank’s Logistics Performance Index (LPI) 2023, achieving:
- 22nd Rank in the International Shipments category
- 38th Rank in Overall Logistics Performance
- The Indian Olympic Association (IOA) has officially announced that Meghalaya will host the 39th edition of the National Games in February/March 2027.
- Pankaj Advani, India’s most decorated cueist, secured his 36th national title and 10th men’s snooker championship at Yashwant Club.
- World Radio Day is celebrated on 13 February is a date proclaimed by UNESCO to celebrate radio broadcasts, improve international cooperation among radio broadcasters and encourage decision-makers to create and provide access to information through radio, including community radios
- Easebuzz, a full-stack payment solutions provider, has received final authorization from the Reserve Bank of India (RBI) to operate as an Online Payment Aggregator (PA) under the Payment and Settlement Systems Act, 2007.
- The Securities and Exchange Board of India (SEBI) has proposed a new framework to address unclaimed funds and securities lying with stock brokers to protect investors’ interests.
- Public-sector lender Union Bank of India has revised its External Benchmark Lending Rate (EBLR) to 9.0% from February 11, 2025. Another Mumbai-based lender Bank of India has revised its repo-based lending rate (RBLR) to 9.10% (repo rate – 6.25% plus mark up of 2.85%).
- Reserve Bank of India (RBI) imposed a penalty of Rs 35.60 lakh on Federal Bank Ltd and Karur Vysya Bank Ltd for non-compliance with RBI directions.
- Reserve Bank of India injects Rs 2,50,000 crore to enhance banking system liquidity through a Variable Rate Repo (VRR)
- Gujarat’s Global Capability Centre (GCC) Policy 2025-30 was unveiled by Chief Minister Bhupendra Patel at GIFT City on February 11, 2025.
- Assam will host the world’s largest Jhumur dance (also called Jhumoir) on 24th February, in the presence of Prime Minister Narendra Modi.
- India’s Vehicle-Mounted Counter-Drone System was launched at Aero India 2025 under a public-private partnership, developed under DRDO’s Transfer of Technology (ToT) framework.
- Indian Institute of Technology Madras (IIT Madras) and Indian Space Research Organisation have successfully developed and booted an Atmanirbhar aerospace-quality SHAKTI-based Semiconductor Chip.
- Russia has extended an important offer to India regarding advanced fighter jet production, highlighting a new phase of defence collaboration between the two nations.
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