26th February 2025 Current Affairs | Daily GK Update & Top News for Exams

State News

Recognition of Bathouism in Assam

The Bodoland Territorial Region (BTR) government in Assam has officially included Bathouism as a religious option in key government documents like educational admission forms, birth, and death certificates. This move, praised by experts, aims to preserve indigenous faiths. The Assam government has also declared the second Tuesday of Magh as a state holiday for Bathou Puja. Bathouism, the traditional faith of the Bodos, is centered on nature worship, with Bathoubwrai (Sibwrai) as the supreme deity. The name ‘Bathou’ signifies deep philosophical thought on five elements—Bar (Air), San (Sun), Ha (Earth), Or (Fire), and Okhrang (Sky).

Appointment News

IOA Forms Ad-Hoc Panel for Boxing Affairs

International News

Cali Fund Launched at CBD COP16 to Boost Biodiversity Finance

A groundbreaking initiative in global biodiversity conservation was announced on February 25, 2025, with the launch of the Cali Fund at the 16th Conference of Parties (COP16) to the United Nations Convention on Biological Diversity (CBD) in Rome, Italy. This international fund aims to secure financial contributions from private companies that benefit from genetic data in their industries, ensuring they actively participate in biodiversity conservation efforts. The Cali Fund represents a major step towards sustainable biodiversity financing, aligning with the goals of the Kunming-Montreal Global Biodiversity Framework (KMGBF) to halt and reverse biodiversity loss by 2030.

Green Transition Alliance India: Denmark’s New Climate Initiative

Banking News

RBI Raises Small Loan Limit for UCBs to ₹3 Crore

The Reserve Bank of India (RBI) has raised the small-value loan limit for Urban Co-operative Banks (UCBs) to ₹3 crore per borrower, enhancing lending flexibility while maintaining prudential norms. Loans classified as small value must not exceed ₹25 lakh or 0.4% of Tier I capital, with at least 50% of total loans meeting this criterion by March 31, 2026. Housing and real estate exposure remains capped at 10% of total assets, with an additional 5% for priority sector housing loans.

SEBI Fines BSE’s ICCL ₹5 Crore for Regulatory Violations

The Securities and Exchange Board of India (SEBI) has fined the Indian Clearing Corporation Ltd. (ICCL), a BSE Ltd. subsidiary, ₹5.05 crore for non-compliance with cybersecurity, IT asset management, and disaster recovery protocols. SEBI’s inspection found ICCL failed to update IT asset inventory, delayed resolving audit issues, and mismatched its Disaster Recovery Site (DRS) with its Primary Data Centre (PDC). Despite ICCL’s defense that the lapses were technical, SEBI deemed them serious regulatory violations, justifying the penalty.

AMFI Launches Chhoti SIP, Tarun Yojana & MITRA for Wider MF Access

The Association of Mutual Funds in India (AMFI) has unveiled three strategic initiatives—Chhoti SIP, Tarun Yojana, and MITRA—to enhance financial inclusion, promote investor awareness, and facilitate the retrieval of unclaimed investments. These programs align with the Securities and Exchange Board of India’s (SEBI) ongoing efforts to democratize mutual fund investments, ensuring broader participation across diverse demographics.

PNB Partners with ITBP to Provide Exclusive Banking Benefits

Punjab National Bank (PNB) has signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP) to provide specialized banking services and exclusive financial benefits to ITBP personnel, pensioners, and their families. The agreement, formalized on February 11, 2025, aims to enhance financial security for ITBP members by offering high insurance coverage and better banking services.

Ranks & Reports News

Australia and NZ Lead in Global Breast Cancer Rates

A global study on breast cancer found that Australia and New Zealand have the highest incidence rates, followed by Northern America and Northern Europe, while South-Central Asia has the lowest. The Age-Standardized Incidence Rate (ASIR) (2022) is 100.3 cases per 100,000 in Australia & New Zealand, compared to 26.7 in South-Central Asia. Mortality is highest in Melanesia (26.8 deaths per 100,000) and lowest in Eastern Asia (6.5 deaths per 100,000). The study highlights global disparities, with higher incidence in developed nations and higher mortality in lower HDI countries. Key risk factors include ageing, alcohol consumption, low physical activity, and obesity.

Schemes News

Operative Kisan Credit Card (KCC) Amount Crosses ₹10 Lakh Crore Benefiting 7.72 Crore Farmers

The Kisan Credit Card (KCC) scheme has played a crucial role in ensuring that farmers in India have timely access to affordable credit for agricultural and allied activities. Over the years, the scheme has undergone several modifications to enhance credit penetration in the agriculture sector. A significant milestone in this journey is the sharp increase in the operative KCC loan amount, which has more than doubled from ₹4.26 lakh crore in March 2014 to ₹10.05 lakh crore in December 2024. This substantial rise reflects the deepening of institutional credit in agriculture and a reduction in farmers’ dependence on non-institutional sources.

Business news

Govt Plans 1-Year Free-Look Period for Insurance

In a major policy shift aimed at enhancing consumer protection, the Indian government has proposed extending the ‘free-look’ period for insurance policies from the current 30 days to one year. This move is expected to help policyholders review their insurance terms carefully and prevent mis-selling in the industry. The proposal, announced by the Department of Financial Services Secretary M. Nagaraju, is part of broader regulatory changes aimed at improving transparency in the insurance sector. Public sector insurers have already been instructed to implement this extended period, while private insurers are being encouraged to follow suit.

TRIFED Partners with NIFT and HPMC to Boost Tribal Entrepreneurship

The Tribal Cooperative Marketing Development Federation of India Ltd (TRIFED), under the Ministry of Tribal Affairs, has signed key Memoranda of Understanding (MoUs) with the National Institute of Fashion Technology (NIFT) and the Himachal Pradesh Horticulture Produce Marketing and Processing Corporation Ltd (HPMC).

Paytm Solar Soundbox: A Game-Changer for Small Merchants in India

Paytm has introduced the Paytm Solar Soundbox, an innovative solution aimed at revolutionizing digital payments for small merchants in India. Launched on February 20, 2025, this device ensures seamless and uninterrupted transaction alerts by using solar energy. Designed primarily for hawkers, street vendors, and small shopkeepers, the Solar Soundbox eliminates dependence on electricity, making it particularly beneficial for businesses in rural and remote areas.

Awards News

International Booker 2025: Kannada Book in Historic Longlist

Banu Mushtaq’s short story collection Heart Lamp, translated from Kannada by Deepa Bhasthi, has become the first-ever Kannada book to be longlisted for the International Booker Prize. The 2025 longlist features 13 books from 15 nationalities, including Kannada and Romanian for the first time. The collection, set in Muslim communities of southern India, was praised for its witty, vivid, and moving storytelling. The shortlist will be announced on April 8, 2025, and the winner on May 20, 2025, with a total prize of £50,000, split between the author and translator.

Dhanwantari Ayurveda Awards Honor India’s Healthcare Legacy

The Ministry of Ayush has honored three distinguished practitioners with the National Dhanwantari Ayurveda Awards for their exceptional contributions to traditional Indian medicine. Each awardee received a citation, a statue of Lord Dhanwantari, and a cash prize of ₹5 lakh.

Economy News

India’s Economic Growth to Reach 6.4% in FY25 and FY26

India’s economic growth is set to expand at 6.4% in both FY25 and FY26, according to the latest forecast by S&P Global Market Intelligence. This estimate reflects steady progress despite global economic challenges and domestic policy shifts. While the projection aligns closely with the Reserve Bank of India’s (RBI) forecast of 6.6% for FY25, it is slightly lower than S&P Global Ratings’ earlier estimate of 6.8%. The report highlights how key monetary and fiscal policies, inflation trends, and government expenditure will influence this growth.

Science and Technology News

NASA and SpaceX to Launch Athena to Moon

Athena, a robotic moon lander by Intuitive Machines, is set for launch on February 26, 2025, aboard a SpaceX Falcon 9 rocket from NASA’s Kennedy Space Center. This marks the company’s second lunar mission, following its historic first private moon landing in 2024. Part of NASA’s CLPS program, Athena will analyze lunar soil composition, search for subsurface water, and test Nokia’s 4G communication system. Targeting Mons Mouton in the Moon’s south polar region, the mission aims to support future lunar exploration and habitation.

Moon’s South Pole: First Detailed Geological Map Unveiled

Indian scientists have achieved a historic breakthrough by creating the first-ever detailed geological map of the Moon’s south pole, using data from the Chandrayaan-3 mission. This new map provides crucial insights into the lunar surface, offering valuable information about the region’s topography, crater formations, and geological history. The research, a collaborative effort between the Physical Research Laboratory (Ahmedabad), Panjab University (Chandigarh), and ISRO’s Laboratory for Electro-Optics Systems, marks a significant step in understanding the Moon’s evolution.

      Summits and Conferences News

Prakriti 2025: Advancing India’s Carbon Market

The first International Conference on Carbon Markets, Prakriti 2025, was held in New Delhi on February 24-25, 2025, marking a crucial moment in India’s climate action strategy. Organized by the Bureau of Energy Efficiency (BEE) under the Ministry of Power, the event brought together over 600 delegates, including policymakers, industry leaders, researchers, and international experts, to discuss the future of carbon markets in India.

Advantage Assam 2.0: A New Dawn for Investment and Infrastructure

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

Miscellaneous News

Saras Aajeevika Mela 2025: Showcasing India’s Rich Rural Art, Craft, and Culture

The Saras Aajeevika Mela 2025, one of India’s most celebrated exhibitions of rural art, craft, and tradition, is set to take place at Noida Haat, Sector 33 A, Noida, Uttar Pradesh. This grand event, organized by the Ministry of Rural Development in collaboration with the National Institute of Rural Development and Panchayati Raj (NIRDPR), will be held from 21st February to 10th March 2025. The Mela aims to promote and showcase the craftsmanship and artistry of Self Help Groups (SHGs) from across the country.

Record-Breaking Mass Nesting of Olive Ridley Turtles at Rushikulya Beach

In a spectacular natural event, nearly 700,000 Olive Ridley turtles have laid eggs at the Rushikulya rookery in Odisha’s Ganjam district during the eight-day arribada (Spanish for mass nesting) that concluded on February 23, 2025. This marks a record-breaking number, especially significant as the endangered marine species had skipped nesting at the beach the previous year.