Daily Current Affairs & GK Updates

ADB Partners with Aavas Financiers to Expand Affordable Housing, MSME Lending in IndiaIn February 2026, the Asian Development Bank (ADB) signed a senior secured debt financing package of up to USD 108 million (Mn) (about Rs 983 crore (Cr)) with Aavas Financiers Limited to expand affordable housing and Micro, Small and Medium Enterprises (MSME) lending in India.Purpose: Apart from providing business loans for MSMEs in underserved states across India, the financing will support housing loans for self-built and green-certified homes, promoting climate-resilient and energy-efficient housing solutions for lower-middle-income borrowers.Capacity Support: The package includes concessional debt financing of USD 8 Mn through the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA), Asian Development Bank (ADB).The transaction also includes up to USD 150,000 in technical assistance to strengthen capacity and promote green housing awareness.

26 Feb, 2026

ADB Partners with Aavas Financiers to Expand Affordable Housing, MSME Lending in IndiaIn February 2026, the Asian Development Bank (ADB) signed a senior secured debt financing package of up to USD 108 million (Mn) (about Rs 983 crore (Cr)) with Aavas Financiers Limited to expand affordable housing and Micro, Small and Medium Enterprises (MSME) lending in India.Purpose: Apart from providing business loans for MSMEs in underserved states across India, the financing will support housing loans for self-built and green-certified homes, promoting climate-resilient and energy-efficient housing solutions for lower-middle-income borrowers.Capacity Support: The package includes concessional debt financing of USD 8 Mn through the Canadian Climate and Nature Fund for the Private Sector in Asia (CANPA), Asian Development Bank (ADB).The transaction also includes up to USD 150,000 in technical assistance to strengthen capacity and promote green housing awareness.

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Indian Mountaineers Summit South America’s Highest Peak AconcaguaIn February 2026, a six-member team from the Nehru Institute of Mountaineering (NIM), Uttarkashi, Uttarakhand and the Jawahar Institute of Mountaineering and Winter Sports (JIM&WS), Pahalgam, Jammu & Kashmir, (J&K), successfully summited Mount Aconcagua in Argentina, marking a major significant achieved for Indian mountaineering.The expedition was formally flagged off by Union Minister Rajnath Singh, Ministry of Defence (MoD) on February 05, 2026.About Expedition to Mt. Aconcagua:Expedition led by: The expedition team was led by Colonel (Col.) Hem Chandra Singh, Principal of NIM and JIM&WS.Summit: Before launching their summit, the team 1st scaled Mt. Bonete Peak, at an altitude of 5,050 meters (m) above sea level.During their expedition, they faced extreme weather conditions, including strong winds and temperatures ranging from -20 degrees Celsius and -30 degrees Celsius.About Mt. Aconcagua:Highest Peak in South America: Mt. Aconcagua is the highest peak in South America and the 2nd-highest mountain peak in the world outside Asia at 6,967.15 meters (m) above mean sea level.Significance: Mt. Aconcagua, known as the ‘Stone Sentinel’ is the highest peak in the Southern and Western Hemispheres, with extreme altitude and rapidly changing weather.Seven Summits: It is one of the Seven Summits which include Mount Everest (Asia), Aconcagua (South America), Denali (North America), Mount Kilimanjaro (Africa), Mount Elbrus (Europe), Mount Vinson (Antarctica), and Mount Kosciuszko (Australia).

26 Feb, 2026

Indian Mountaineers Summit South America’s Highest Peak AconcaguaIn February 2026, a six-member team from the Nehru Institute of Mountaineering (NIM), Uttarkashi, Uttarakhand and the Jawahar Institute of Mountaineering and Winter Sports (JIM&WS), Pahalgam, Jammu & Kashmir, (J&K), successfully summited Mount Aconcagua in Argentina, marking a major significant achieved for Indian mountaineering.The expedition was formally flagged off by Union Minister Rajnath Singh, Ministry of Defence (MoD) on February 05, 2026.About Expedition to Mt. Aconcagua:Expedition led by: The expedition team was led by Colonel (Col.) Hem Chandra Singh, Principal of NIM and JIM&WS.Summit: Before launching their summit, the team 1st scaled Mt. Bonete Peak, at an altitude of 5,050 meters (m) above sea level.During their expedition, they faced extreme weather conditions, including strong winds and temperatures ranging from -20 degrees Celsius and -30 degrees Celsius.About Mt. Aconcagua:Highest Peak in South America: Mt. Aconcagua is the highest peak in South America and the 2nd-highest mountain peak in the world outside Asia at 6,967.15 meters (m) above mean sea level.Significance: Mt. Aconcagua, known as the ‘Stone Sentinel’ is the highest peak in the Southern and Western Hemispheres, with extreme altitude and rapidly changing weather.Seven Summits: It is one of the Seven Summits which include Mount Everest (Asia), Aconcagua (South America), Denali (North America), Mount Kilimanjaro (Africa), Mount Elbrus (Europe), Mount Vinson (Antarctica), and Mount Kosciuszko (Australia).

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IIRIS and NLU Jodhpur Sign MoU to Establish Chair in Infosec and Forensic SocietyIn February 2026, IIRIS Consulting, a leading global risk, security, and intelligence firm, and the National Law University, Jodhpur (NLUJ), Rajasthan, signed a Memorandum of Understanding (MoU) to establish the IIRIS Chair of Information Security (Infosec) and Forensic Society.This is the first-ever dedicated Chair in Information Security(Infosec) and Forensic Science(FS) at an Indian law university, designed to bridge legal theory with practical digital investigative skills.Key Details of MoU:Signatories: The MoU was signed by Sagarika Chakraborty, CEO of IIRIS Consulting, and Professor (Dr.) Harpreet Kaur, Vice Chancellor of NLUJ, in New Delhi, Delhi.Purpose: Promote research, innovation, and industry-academia collaboration in information security (Infosec) and forensic science (FS) through the establishment of a Center of Excellence (CoE).Programme: Launch a joint Certificate Programme on Cyber-Led Forensic Investigation and Diligence (CLFID) under the theme ‘Bridging Legal Theory & Investigative Practice in the Digital Age,’ equipping participants with skills at the intersection of law, technology, and investigations.

26 Feb, 2026

IIRIS and NLU Jodhpur Sign MoU to Establish Chair in Infosec and Forensic SocietyIn February 2026, IIRIS Consulting, a leading global risk, security, and intelligence firm, and the National Law University, Jodhpur (NLUJ), Rajasthan, signed a Memorandum of Understanding (MoU) to establish the IIRIS Chair of Information Security (Infosec) and Forensic Society.This is the first-ever dedicated Chair in Information Security(Infosec) and Forensic Science(FS) at an Indian law university, designed to bridge legal theory with practical digital investigative skills.Key Details of MoU:Signatories: The MoU was signed by Sagarika Chakraborty, CEO of IIRIS Consulting, and Professor (Dr.) Harpreet Kaur, Vice Chancellor of NLUJ, in New Delhi, Delhi.Purpose: Promote research, innovation, and industry-academia collaboration in information security (Infosec) and forensic science (FS) through the establishment of a Center of Excellence (CoE).Programme: Launch a joint Certificate Programme on Cyber-Led Forensic Investigation and Diligence (CLFID) under the theme ‘Bridging Legal Theory & Investigative Practice in the Digital Age,’ equipping participants with skills at the intersection of law, technology, and investigations.

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Indian Army Conducts ‘Exercise Agni Varsha; in Pokhran, RajasthanOn February 24, 2026, Indian Army (IA) conducted ‘Exercise Agni Varsha’ at the Pokhran Field Firing Ranges in Pokhran, Rajasthan, to test and demonstrate its operational readiness and combat capabilities in a realistic battlefield environment.About Exercise Agni Varsha:Led by:The Integrated Fire and Manoeuvre Exercise was led by the IA’s Southern Command.Validation: The exercise validated the coordinated use of combined arms, precision long-range firepower, and network-enabled command and control, demonstrating the effective synergy and combat readiness of mechanised forces across multiple domains.Combat Elements: It includes T-90 Main Battle Tanks, Infantry Combat Vehicles, K-9 Vajra self-propelled howitzers, Sharang and Bofors artillery systems, Rocket artillery systems, indigenous Advanced Light Helicopter(ALH) weapon system-integrated helicopters, Apache attack helicopters, Unmanned Aerial Systems(UAS) and drones, and networked surveillance and counter-drone systems.Technology & Modernization: The exercise highlighted IA’s emphasis on technology infusion, indigenization of defence capabilities, network-centric command and control, and multi-domain warfare readiness.

26 Feb, 2026

Indian Army Conducts ‘Exercise Agni Varsha; in Pokhran, RajasthanOn February 24, 2026, Indian Army (IA) conducted ‘Exercise Agni Varsha’ at the Pokhran Field Firing Ranges in Pokhran, Rajasthan, to test and demonstrate its operational readiness and combat capabilities in a realistic battlefield environment.About Exercise Agni Varsha:Led by:The Integrated Fire and Manoeuvre Exercise was led by the IA’s Southern Command.Validation: The exercise validated the coordinated use of combined arms, precision long-range firepower, and network-enabled command and control, demonstrating the effective synergy and combat readiness of mechanised forces across multiple domains.Combat Elements: It includes T-90 Main Battle Tanks, Infantry Combat Vehicles, K-9 Vajra self-propelled howitzers, Sharang and Bofors artillery systems, Rocket artillery systems, indigenous Advanced Light Helicopter(ALH) weapon system-integrated helicopters, Apache attack helicopters, Unmanned Aerial Systems(UAS) and drones, and networked surveillance and counter-drone systems.Technology & Modernization: The exercise highlighted IA’s emphasis on technology infusion, indigenization of defence capabilities, network-centric command and control, and multi-domain warfare readiness.

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16th Edition of India-USA Joint Special Forces Exercise VAJRA PRAHAR Commences in HPOn 24 February 2026, the Indian Army (IA) and the United States Army (USA) commenced the 16th edition of the India-the United States of America(USA) Joint Special Forces Exercise ‘VAJRA PRAHAR’ at the Special Forces Training School (SFTS), Bakloh, Himachal Pradesh (HP).The exercise will continue until 16 March 2026.About Exercise VAJRA PRAHAR 2026:Aim: The exercise is conducted to strengthen combined capabilities for carrying out joint Special Forces operations in mountainous terrain.Participating Forces:IA: Represented by 45 personnel from its Special Forces units.USA: Represented by 12 personnel from the Green Berets of the US Special Forces.

26 Feb, 2026

16th Edition of India-USA Joint Special Forces Exercise VAJRA PRAHAR Commences in HPOn 24 February 2026, the Indian Army (IA) and the United States Army (USA) commenced the 16th edition of the India-the United States of America(USA) Joint Special Forces Exercise ‘VAJRA PRAHAR’ at the Special Forces Training School (SFTS), Bakloh, Himachal Pradesh (HP).The exercise will continue until 16 March 2026.About Exercise VAJRA PRAHAR 2026:Aim: The exercise is conducted to strengthen combined capabilities for carrying out joint Special Forces operations in mountainous terrain.Participating Forces:IA: Represented by 45 personnel from its Special Forces units.USA: Represented by 12 personnel from the Green Berets of the US Special Forces.

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GoI & GCC Sign Joint Statement on India-GCC Free Trade AgreementOn February 24, 2026, Government of India (GoI) and Gulf Cooperation Council (GCC) signed a Joint Statement for a comprehensive India-GCC Free Trade Agreement (FTA), marking a significant step towards deepening economic integration between India and GCC.About India-GCC Joint Statement:Signatories: The Joint Statement was signed by the Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoC&I), and Jasem Mohamed Albudaiwi, Secretary General of the GCC, in New Delhi, Delhi.Background: The Joint Statement is built on a Terms of Reference (ToR) signed on February 5, 2026, which laid out the framework and modalities for talks.Areas of Cooperation: Trade in Goods: It will focus on the reduction or elimination of tariffs and improved market access for exporters, enabling smoother and competitive trade.Trade in Services: It aims to provide greater access for Indian professionals and enhance cooperation in sectors such as Information Technology (IT), finance, healthcare, and education.India-GCC Relations: GCC is one of India’s important trading blocs, accounting for about 15% of India’s global trade with bilateral trade valued at about USD 178.56 billion in Financial Year 2024-25 (FY25).

26 Feb, 2026

GoI & GCC Sign Joint Statement on India-GCC Free Trade AgreementOn February 24, 2026, Government of India (GoI) and Gulf Cooperation Council (GCC) signed a Joint Statement for a comprehensive India-GCC Free Trade Agreement (FTA), marking a significant step towards deepening economic integration between India and GCC.About India-GCC Joint Statement:Signatories: The Joint Statement was signed by the Union Minister Piyush Goyal, Ministry of Commerce and Industry (MoC&I), and Jasem Mohamed Albudaiwi, Secretary General of the GCC, in New Delhi, Delhi.Background: The Joint Statement is built on a Terms of Reference (ToR) signed on February 5, 2026, which laid out the framework and modalities for talks.Areas of Cooperation: Trade in Goods: It will focus on the reduction or elimination of tariffs and improved market access for exporters, enabling smoother and competitive trade.Trade in Services: It aims to provide greater access for Indian professionals and enhance cooperation in sectors such as Information Technology (IT), finance, healthcare, and education.India-GCC Relations: GCC is one of India’s important trading blocs, accounting for about 15% of India’s global trade with bilateral trade valued at about USD 178.56 billion in Financial Year 2024-25 (FY25).

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Union Minister Sarbananda Sonowal Inaugurates and Lays Foundation Stones for Rs 1,500 Crore Projects at VOC Port, TNIn February 2026, Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW), inaugurated and laid foundation stones for projects worth over Rs 1,500 crore at V.O. Chidambaranar Port Authority (VOC Port), located in Tuticorin, Tamil Nadu(TN).These initiatives are designed to modernize infrastructure, integrate renewable energy, and enhance digital security, aligning with the Maritime Amrit Kaal Vision 2047.Key Details of Projects:VOC Maritime Heritage Museum:Union Minister Sarbananda Sonowal inaugurated the VOC Maritime Heritage Museum at VOC Port, Tuticorin, as an immersive institution dedicated to India’s maritime history and the contributions of freedom fighter V.O. Chidambaranar.Infrastructure Projects:During the event, he also laid foundation stones for projects covering upgraded rail and road connectivity, enhanced power infrastructure, Renewable Energy(RE) initiatives such as solar, wind, battery storage and green hydrogen, along with advanced safety systems and digital platforms.

26 Feb, 2026

Union Minister Sarbananda Sonowal Inaugurates and Lays Foundation Stones for Rs 1,500 Crore Projects at VOC Port, TNIn February 2026, Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping and Waterways (MoPSW), inaugurated and laid foundation stones for projects worth over Rs 1,500 crore at V.O. Chidambaranar Port Authority (VOC Port), located in Tuticorin, Tamil Nadu(TN).These initiatives are designed to modernize infrastructure, integrate renewable energy, and enhance digital security, aligning with the Maritime Amrit Kaal Vision 2047.Key Details of Projects:VOC Maritime Heritage Museum:Union Minister Sarbananda Sonowal inaugurated the VOC Maritime Heritage Museum at VOC Port, Tuticorin, as an immersive institution dedicated to India’s maritime history and the contributions of freedom fighter V.O. Chidambaranar.Infrastructure Projects:During the event, he also laid foundation stones for projects covering upgraded rail and road connectivity, enhanced power infrastructure, Renewable Energy(RE) initiatives such as solar, wind, battery storage and green hydrogen, along with advanced safety systems and digital platforms.

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PWD, CSIR-CRRI & SPA Sign Four MoUs for Standard Framework & RAMS Implementation in NCROn February 24, 2026, Public Works Department (PWD) of Delhi, Haryana, Uttar Pradesh (UP), and Rajasthan along with the Council of Scientific and Industrial Research – Central Road Research Institute (CSIR‑CRRI) and the School of Planning and Architecture (SPA), New Delhi(Delhi), signed four Memoranda of Understanding (MoUs) to implement a Standard Framework and Road Asset Management System (RAMS) for dust‑free and sustainable urban roads in the National Capital Region (NCR).The MoUs were signed in the presence of Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC), at Indira Paryavaran Bhawan, New Delhi, Delhi.Key Details of MoU:Implementation: The MoUs will remain valid for three years and can be extended. Each state will appoint a Nodal Agency and create a Paving and Greening Cell for coordination.Road Lengths Covered: The initiative will cover approximately 10,099 kilometre (km) in Delhi, 10,133 in Haryana, 6,891 km in UP, and 1,747 km in Rajasthan.

26 Feb, 2026

PWD, CSIR-CRRI & SPA Sign Four MoUs for Standard Framework & RAMS Implementation in NCROn February 24, 2026, Public Works Department (PWD) of Delhi, Haryana, Uttar Pradesh (UP), and Rajasthan along with the Council of Scientific and Industrial Research – Central Road Research Institute (CSIR‑CRRI) and the School of Planning and Architecture (SPA), New Delhi(Delhi), signed four Memoranda of Understanding (MoUs) to implement a Standard Framework and Road Asset Management System (RAMS) for dust‑free and sustainable urban roads in the National Capital Region (NCR).The MoUs were signed in the presence of Union Minister Bhupender Yadav, Ministry of Environment, Forest and Climate Change (MoEF&CC), at Indira Paryavaran Bhawan, New Delhi, Delhi.Key Details of MoU:Implementation: The MoUs will remain valid for three years and can be extended. Each state will appoint a Nodal Agency and create a Paving and Greening Cell for coordination.Road Lengths Covered: The initiative will cover approximately 10,099 kilometre (km) in Delhi, 10,133 in Haryana, 6,891 km in UP, and 1,747 km in Rajasthan.

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Lok Sabha Speaker Om Birla Constitutes ‘Parliamentary Friendship Groups’ with 64 CountriesIn February 2026, Om Birla, Speaker of Lok Sabha (the Lower House of Parliament) constituted ‘Parliamentary Friendship Groups(PFGs)’ with 64 countries to bolster inter-parliamentary cooperation and legislative dialogue.About Parliamentary Friendship Groups:Significance: This new initiative will enable the Indian lawmakers to interact directly with their counterparts abroad, share legislative experience.It will also facilitate regular dialogue, exchange of legislative practices, and will boost cooperation on trade, technology, culture, and shared global challenges.Structure: Each Parliamentary Friendship Group typically consisted of 11 members, with a designated Chairperson/Group Leader leading the group.Members: The groups comprise Members of Parliament (MPs) from both the Lok Sabha and the Rajya Sabha across the political spectrum.

26 Feb, 2026

Lok Sabha Speaker Om Birla Constitutes ‘Parliamentary Friendship Groups’ with 64 CountriesIn February 2026, Om Birla, Speaker of Lok Sabha (the Lower House of Parliament) constituted ‘Parliamentary Friendship Groups(PFGs)’ with 64 countries to bolster inter-parliamentary cooperation and legislative dialogue.About Parliamentary Friendship Groups:Significance: This new initiative will enable the Indian lawmakers to interact directly with their counterparts abroad, share legislative experience.It will also facilitate regular dialogue, exchange of legislative practices, and will boost cooperation on trade, technology, culture, and shared global challenges.Structure: Each Parliamentary Friendship Group typically consisted of 11 members, with a designated Chairperson/Group Leader leading the group.Members: The groups comprise Members of Parliament (MPs) from both the Lok Sabha and the Rajya Sabha across the political spectrum.

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GoI & France Sign Protocol to Amend India-France DTAC In February 2026, Government of India (GoI) and France signed a Protocol to amend the India-France Double Taxation Avoidance Convention (DTAC), originally signed on 29 September 1992, to modernise tax provisions and align them with global standards.Key Amendment to India-France DTAC:Capital Gains on Sale of Shares: Following the amendment, capital gains from selling shares of a company will be taxed in the country where the company is resident, thereby granting full taxing rights to that jurisdiction.Removal of MFN Clause: The Most-Favoured-Nation (MFN) clause has been removed, resolving past disputes and bringing greater clarity and certainty to taxation matters between India and France.Dividend Tax Rates Revised: Earlier, dividends were taxed at a single rate of 100%. Under the amended provisions, a 5% tax will apply where the shareholder holds at least 10% of the company’s capital and 15% in all other cases, creating a two-tier system based on the level of investment.PE Expanded: A new concept of Service Permanent Establishment (Service PE) has been introduced, enabling certain service activities to constitute a taxable presence in a country.

26 Feb, 2026

GoI & France Sign Protocol to Amend India-France DTAC In February 2026, Government of India (GoI) and France signed a Protocol to amend the India-France Double Taxation Avoidance Convention (DTAC), originally signed on 29 September 1992, to modernise tax provisions and align them with global standards.Key Amendment to India-France DTAC:Capital Gains on Sale of Shares: Following the amendment, capital gains from selling shares of a company will be taxed in the country where the company is resident, thereby granting full taxing rights to that jurisdiction.Removal of MFN Clause: The Most-Favoured-Nation (MFN) clause has been removed, resolving past disputes and bringing greater clarity and certainty to taxation matters between India and France.Dividend Tax Rates Revised: Earlier, dividends were taxed at a single rate of 100%. Under the amended provisions, a 5% tax will apply where the shareholder holds at least 10% of the company’s capital and 15% in all other cases, creating a two-tier system based on the level of investment.PE Expanded: A new concept of Service Permanent Establishment (Service PE) has been introduced, enabling certain service activities to constitute a taxable presence in a country.

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