National News

PM Modi Launches ₹43,875 Cr Educational And Infra Projects Including 3 IIMs, IITs, 20 KVs, 13 NVs, And AIIMS In Jammu

• Prime Minister Narendra Modi kickstarted an array of transformative educational and infrastructural ventures on February 20, totaling a staggering investment of ₹43,875 crore.
• These initiatives encompass the establishment of three Indian Institutes of Management (IIMs), Indian Institutes of Technology (IITs), 20 Kendriya Vidyalayas (KVs), 13 Navodaya Vidyalayas (NVs), and an All India Institute of Medical Sciences (AIIMS) in Jammu.
• In addition to bolstering the educational landscape, PM Modi also unveiled projects worth ₹30,500 crore across various sectors, including education, railways, aviation, and roads.

International News

Japan Commits To Long-Term Engagement In Ukraine’s Reconstruction

• Japan, under the leadership of Prime Minister Fumio Kishida, has pledged steadfast support for Ukraine's extensive reconstruction efforts, marking it as a strategic investment for the future.
• With the imminent two-year mark of Russia's invasion of Ukraine, Japan emphasizes its commitment to long-term collaboration with the country.
• In a collaborative effort with Ukrainian governmental bodies and business entities, Japan hosted a conference delineating a vision for a robust partnership.
• More than 50 cooperative agreements were inked between Japanese and Ukrainian stakeholders, emphasizing the pivotal role of investment across diverse industries in Ukraine's developmental trajectory.

Malta's Momentous Step

• In a significant stride towards sustainable energy, Malta, though modest in size, has joined the International Solar Alliance (ISA), becoming the 119th member nation.
• This decision underscores Malta's dedication to reducing dependence on non-renewable energy sources and embracing eco-friendly alternatives.
• By joining the alliance, Malta reinforces the global commitment to combat climate change through the widespread adoption of solar energy.

State News

Maharashtra Government Extends 10% Reservation To Marathas

• The Maharashtra Cabinet has greenlit a draft bill extending a 10 percent reservation to the Maratha community in educational institutions and government jobs.
• This move, backed by a report from the Maharashtra Backward Class Commission (MBCC), justifies surpassing the 50 percent reservation cap.
• To address the demands of Maratha quota activist Manoj Jarange Patil, the state government has convened a special session of the assembly to introduce the bill.

Arunachal Pradesh Achieves Full Har Ghar Jal Saturation, First In Northeast

• Arunachal Pradesh has achieved a momentous milestone by attaining 100 percent saturation in the 'Har Ghar Jal' scheme, as announced by Chief Minister Pema Khandu.
• This accomplishment marks Arunachal Pradesh as the first state in the northeast and the tenth in India to achieve full implementation of the initiative.
• Launched in 2019, the Jal Jeevan Mission (JJM) aims to ensure safe and accessible piped water to every household in rural India by 2024, exemplifying Arunachal Pradesh's dedication to fulfilling this vital need for its citizens.

Chandigarh Unveils North India’s First ‘Pizza ATM’

• Chandigarh steps into the limelight with the introduction of North India's pioneering 'Pizza ATM' by CITCO (Chandigarh Industrial and Tourism Development Corporation) near Sukhna Lake.
• This revolutionary pizza vending machine, capable of churning out hot pizzas within three minutes, marks a significant milestone in the region.
• Spearheaded by Rohit Shekhar Sharma, Founder & CEO at iMatrix Group of Companies, and inspired by a similar concept in France, this venture showcases technological innovation at its finest.
• Crafted at their Mohali factory, the Pizza ATM stands as the sole operational machine of its kind in India, surpassing expectations by dispensing a remarkable 100 pizzas daily.
• Since its launch in early 2024, the Pizza ATM has swiftly garnered popularity among locals, offering an array of both vegetarian and non-vegetarian options to cater to diverse tastes.

Defence News

Multinational Military Exercise ‘Shanti Prayas IV’ Commences In Kathmandu

• Kathmandu becomes the epicenter of global peacekeeping efforts with the inauguration of the multinational military exercise 'Shanti Prayas IV.'
• Drawing army representatives from 19 countries actively engaged in United Nations Peacekeeping missions, this event underscores a collective commitment to fostering global peace and security. Co-hosted by the Nepali Army and the U.S.
• Indo-Pacific Command, the Shanti Prayas Exercise highlights the robust military cooperation between Nepal and the United States, emphasizing the importance of collaborative endeavors in maintaining stability on a global scale.

Maritime Cooperation at Milan Naval Exercise

• India takes center stage in maritime cooperation by hosting the 12th edition of the 'Milan' naval exercise in Visakhapatnam, aimed at enhancing collaboration among like-minded nations.
• With participation from navies of nearly 50 countries, including prominent players such as the US, Japan, Australia, and France, Milan serves as a platform for fostering mutual understanding and synergy in maritime operations.
• Originating in 1995 with the participation of Indonesia, Singapore, Sri Lanka, and Thailand, Milan aligns with India's 'Look East' policy and has evolved under the Andaman and Nicobar Command, symbolizing the nation's commitment to regional stability and security.

HAL, DRDO To Begin Rs 60,000 Crore Sukhoi Fighter Jet Fleet Upgrade

• Hindustan Aeronautics Limited (HAL) joins hands with the Defence Research and Development Organisation (DRDO) to embark on a comprehensive upgrade project worth Rs 60,000 crore for the Su-30MKI fighter jet fleet.
• This ambitious initiative aims to enhance the aircraft's capabilities through the integration of cutting-edge technologies and indigenous systems, reinforcing India's prowess in defence manufacturing.
• With over 50% indigenous content to be incorporated into the manufacturing process, this project underscores India's dedication to achieving self-sufficiency in defence production, thereby strengthening national security.

Banking News

HDFC Bank Leads Profitability Rankings From April To December

• HDFC Bank emerges as the frontrunner in profitability rankings for the first nine months of the current fiscal year, reporting a net profit of Rs 44,300 crore.
• Bolstered by its strategic merger with mortgage lender HDFC, effective from July 1 last year, HDFC Bank solidifies its financial position and competitive advantage in the market.
• Following closely behind are State Bank of India (SBI) and Indian Oil Corporation (IOC), reporting profits of Rs 40,378 crore and Rs 34,781 crore, respectively. These achievements underscore the resilience and stability of India's banking sector amidst evolving economic landscapes.

Business News

Fintech Startup ‘Paymart’ Partners With Five Indian Banks For Virtual ATM Service

• In a significant move, fintech startup Paymart has collaborated with five major Indian banks to introduce a groundbreaking virtual cash withdrawal service.
• This innovative solution, which is cardless and hardware-less, aims to redefine traditional banking transactions.
• Partnered with banks like IDBI Bank, Indian Bank, Jammu & Kashmir Bank, and Karur Vyasa Bank, Paymart leverages advanced technology and seamless integration with banks’ Core Banking Systems, establishing itself as a versatile Cardless Switch for modern banking needs.

Private Investment Boosts India’s Nuclear Energy Sector

• India is poised to invite private investment worth $26 billion into its nuclear energy sector, aligning with its ambitious target of increasing non-fossil fuel-based electricity generation to 50% by 2030.
• Leading private firms such as Reliance Industries, Tata Power, Adani Power, and Vedanta Ltd are being courted for investments amounting to approximately 440 billion rupees each ($5.30 billion).
• Despite private investment, the Nuclear Power Corporation of India Limited (NPCIL) retains rights for the construction, operation, and management of nuclear stations, including fuel management, ensuring stringent safety measures.

Tech Mahindra Expands with Orchid Cybertech Acquisition

• Tech Mahindra, a prominent IT services and consulting firm, has completed the acquisition of Orchid Cybertech Services (OCSI) for ₹24.75 crores ($3.27 million).
• This strategic move involves acquiring a 100% stake in OCSI through its wholly-owned subsidiary.
• Orchid Cybertech specializes in delivering customer experience solutions and currently serves TPG Telecom with a workforce of nearly 2,950 full-time employees.
• The acquisition underscores Tech Mahindra’s commitment to enriching its customer experience portfolio and strengthening its presence in the Philippines market.

Important Days News

Celebrating Linguistic Diversity on International Mother Language Day

• February 21st marks International Mother Language Day, an annual celebration of linguistic diversity worldwide.
• Originating from Bangladesh, this day holds historical significance in the struggle for linguistic rights.
• In 2024, the theme revolves around “Multilingual education – a pillar of learning and intergenerational learning,” emphasizing the importance of embracing diverse languages for holistic education and knowledge transfer.

Awards News

Underwater Photography Excellence Recognized

• Swedish photographer Alex Dawson clinches the prestigious title of Underwater Photographer of the Year 2024 with his captivating entry, ‘Whale Bones.’
• This mesmerizing image captures the haunting beauty of the underwater world beneath the Greenland ice sheet, where a diver explores the skeletal remains of a minke whale.
• Dawson’s exceptional photographic skills not only earn him accolades but also serve as a reminder of the profound wonders lurking beneath the ocean's surface.

Shashi Tharoor Honored with France’s Highest Civilian Award

• Renowned diplomat, author, and politician, Shashi Tharoor, receives France’s highest civilian honor, the ‘Chevalier de la Légion d’Honneur’ (Knight of the Legion of Honour).
• This prestigious accolade recognizes Tharoor's lifelong dedication to fostering global understanding and his significant contributions to India and the world.
• Established in 1802 by Napoleon Bonaparte, the Legion of Honour symbolizes French recognition for exceptional service transcending national boundaries.

Agreements News

Japan’s Generous Funding for Indian Projects

• In a bid to enhance India’s infrastructure and innovation landscape, Japan pledges a substantial loan of Rs 12,800 crore (232.209 billion yen) for nine diverse projects across various sectors.
• This financial commitment underscores the deepening strategic partnership between India and Japan, dating back to 1958.
• The agreement, formalized between Vikas Sheel, Additional Secretary of the Department of Economic Affairs, and Suzuki Hiroshi, Japanese Ambassador to India, marks a significant step in bilateral cooperation.

Goa and World Bank Introduce Climate Finance Facility

• The Government of Goa collaborates with the World Bank to launch a pioneering Blended Finance facility aimed at addressing climate change challenges.
• This innovative initiative aims to enhance Goa’s resilience to climate change impacts by facilitating access to concessional finance for low-carbon and climate-resilient investments.
• By focusing on climate-focused financing at the subnational level, this facility sets a precedent for climate action at regional scales.

Sports News

Notable Retirements in Cricket and Chess

• Faiz Fazal, the esteemed Vidarbha cricketer, bids farewell to professional cricket, concluding a remarkable career marked by immense contributions to Vidarbha cricket.
• Meanwhile, in the world of chess, eight-year-old prodigy Ashwath Kaushik from Singapore creates history by defeating seasoned Polish grandmaster Jacek Stopa, becoming the youngest chess player to achieve this feat.
• These retirements and milestones underscore the diverse talent and achievements across sporting disciplines.

Science & Technology News

Reliance Industries Ventures into AI with ‘Hanooman’

• Reliance Industries, under the leadership of Mukesh Ambani, collaborates with premier engineering institutions in India to unveil ‘Hanooman,’ a ChatGPT-style AI service.
• Developed in partnership with Reliance Jio Infocomm and several Indian Institutes of Technology (IITs), including IIT Bombay, ‘Hanooman’ represents a groundbreaking endeavor in AI technology.
• This initiative highlights the synergy between corporate giants like Reliance Industries and academic institutions in driving technological innovation forward.