NATIONAL UPDATES:
1. Jitendra Singh chairs 12th All India Pension Adalat: Union Minister Dr. Jitendra Singh chaired the 12th All India Pension Adalat in New Delhi.During the event, the Minister interacted with pensioners from different states and provided on-the-spot redressal of their pension-related grievances. Speaking on the occasion, the Minister dedicated the Pension Adalat to all the pensioners.The Pension Adalat sought to resolve long-standing pension cases pending for more than 120 days in 16 departments, as well as ministries, which were also attending the Adalat. Nearly 180 cases pertaining to ministries were discussed during the Adalat.
2. Lok Sabha Speaker forms 31-member Select Committee to examine new Income Tax Bill: Lok Sabha Speaker Om Birla has constituted a 31-member Select Committee to examine the new Income Tax Bill. The panel will be headed by BJP MP Baijayant Panda and it will submit its report by the first day of the next session.The Income-Tax Bill 2025 which aims at consolidating and amending the law relating to income tax was introduced in the Lok Sabha. While introducing the Bill, Finance Minister Nirmala Sitharaman had urged the Lok Sabha Speaker to refer the draft law to a Select Committee of the House.Speaking on the Bill, Ms Sitharaman said that the new legislation has fewer sections and chapters in comparison to the existing Income Tax Act, and it has been simplified for easy comprehension by the common people.
3. Kashi Tamil Sangamam 3.0 begins in Uttar Pradesh: The third edition of the Kashi Tamil Sangamam, an initiative fostering cultural and intellectual ties between Tamil Nadu and Kashi, commence at Varanasi in Uttar Pradesh.Union Education Minister, Dharmendra Pradhan; Union Minister of State for Information and Broadcasting Dr. L. Murugan and Uttar Pradesh Chief Minister Yogi Adityanath have inaugurated the prestigious cultural event.The initiative, organized by the Ministry of Education in collaboration with various ministries and the Government of Uttar Pradesh, aims to celebrate and strengthen the ancient civilizational bond between Tamil Nadu and Kashi.This year, the government has decided to bring around thousand delegates from Tamil Nadu under five different categories.The main theme of this year’s event is highlighting the significant contributions of Sage Agasthya to the world of Health, Philosophy, Science, Classical Tamil Literature, and cultural unity of the Nation.
INTERNATIONAL UPDATES:
1. JICA, Uttarakhand sign agreement for integrated horticulture development promotion project: Japan International Cooperation Agency (JICA) and the Department of Horticulture and Food Processing (DHFP), Government of Uttarakhand, have signed the ‘Records of Discussions’, an official agreement document, for a Technical Cooperation Project (TCP) titled ‘Uttarakhand Integrated Horticulture Development Promotion Project’.The project aims to promote stable production of horticulture crops and strengthen marketing system through the dissemination of integrated model of market-oriented production and proper management of distribution facilities in Tehri Garhwal and Nainital districts of Uttarakhand.
2. Munich Security Conference 2025: Recent developments at the 61st Munich Security Conference (MSC) have brought into light shift in the geopolitical landscape between the United States and Europe. The conference, held in February 2025, was marked by discord and differing priorities among attendees. With the ongoing war in Ukraine, the absence of Ukrainian representatives from crucial negotiations has raised concerns about the future of European security and unity. The conflict in Ukraine has led to a reassessment of Western policies. European nations are now urged to ramp up their military expenditures to deter Russian aggression. Current NATO spending guidelines may rise from 2% to 3% of GDP. This is in response to Russia’s increased military budget, which exceeds European spending.
3. Indian Ocean Conference 2025 : The 8th edition of the Indian Ocean Conference (IOC) commenced in Muscat on February 16-17, 2025. This year’s theme is Voyage to New Horizons of Maritime Partnership. The conference aims to enhance inclusivity and encourage new partnerships within the maritime sector. It gathers participants from over 60 countries and international organisations. This reflects the strategic significance of the Indian Ocean region and the necessity for collaborative solutions. Future efforts should focus on strengthening maritime infrastructure. Investment in port modernisation and naval expansion is essential. Enhancing regional cooperation through IORA and QUAD can boost maritime security. Promoting the Blue Economy and sustainable development is crucial for long-term viability. Finally, developing disaster preparedness and climate action plans will help mitigate future risks.
OTHER UPDATES:
DEFENCE
1. Global defence firm Saab signs MoU with HAL for laser warning system: Swedish defence and security company Saab has signed an agreement with Indian defence manufacturer Hindustan Aeronautics Limited (HAL) to collaborate on the Electronic Warfare Laser Warning System-310 (LWS-310).The agreement strengthens the long-standing partnership between Saab South Africa and HAL, which began in 2005 during the development of the Advanced Light Helicopter Programme.The MoU includes a Maintenance Transfer of Technology (ToT), aligning with India’s defence procurement procedure. Under this agreement, HAL will acquire the capability to manufacture LWS-310 domestically, with Saab providing infrastructure support, training programs, and technical expertise. This initiative aims to ensure long-term support for the Indian armed forces while promoting local defence production.
2. Special Grade Steel MDN100: The Defence Research and Development Organisation (DRDO) and the public sector undertaking Mishra Dhatu Nigam Limited (MIDHANI) have recently signed a Memorandum of Understanding (MoU) during the Aero India 2025 event. This agreement focuses on the indigenous development of a special grade steel known as MDN100. This steel is designed for aeronautical applications, particularly for the Advanced Medium Combat Aircraft (AMCA). The initiative supports India’s goal of self-reliance in defence manufacturing. MDN100 steel is characterised by high strength and toughness. These properties make it suitable for use in highly stressed aircraft components. The steel’s excellent forgeability allows for weight-saving designs in aircraft construction. This is crucial for enhancing the performance and efficiency of modern combat aircraft.
SPORTS
1. Rajat Patidar named RCB captain ahead of IPL 2025: Rajat Patidar, the 31-year-old middle order batter, has been appointed as the captain of Royal Challengers Bengaluru (RCB) for the upcoming season of the Indian Premier League (IPL).After having released Faf du Plessis, who had captained the side in the previous seasons, the Bengaluru-franchise were without a captaincy candidate ahead of the 2025 season.Patidar, who had led Madhya Pradesh to the final of Syed Mushtaq Ali Trophy earlier this season, will become the eighth player to lead RCB.Patidar made his IPL debut in 2021 and has been a part of the franchise since then. With the ability to dominate pace and spin with equal ease, he has featured in 27 games for RCB, scoring 799 runs at a strike rate of 158.85. He was one of the three retentions for RCB ahead of the mega auction, apart from Virat Kohli and Yash Dayal. He was retained for INR 11 Crore.
2. ICC announces prize money for 2025 Champions Trophy: The International Cricket Council (ICC) has announced prize money for the 2025 Champions Trophy, starting on February 19 in Pakistan.The total prize pool of this edition has been increased by an impressive 53 per cent from the 2017 edition to a total prize money of US 4.5 million Dollar.The winners will earn US 2.24 million dollar, while the runners-up will get US 1.12 million dollar. Losing semi-finalists will receive 560,000 dollar each.Every group match win is worth over US 34,000 dollars, while teams finishing fifth or sixth will earn 350,000 dollars. The seventh and eighth-placed teams will take home 140,000 US dollars. All eight teams are guaranteed 125,000 US dollar for participating.This is the first ICC event in Pakistan since 1996. The tournament will run for 19 days, with 15 matches being played in Pakistan and the UAE.
SCIENCE AND TECHNOLOGY
1. TCS partners with UPM to modernise its IT landscape with AI and automation: Tata Consultancy Services (TCS) signed an agreement to drive end-to-end IT transformation of UPM, a global company that provides renewable and responsible solutions, to boost adoption of an AI-first operating model.The partnership further solidifies TCS’ leadership in Finland, where it has been operational for over 25 year The digital transformation aims to accelerate UPM’s growth, enhance user experience, and support the adoption of an AI-first operating model.
BANKING AND FINANCE
1. Bank of Baroda gets board approval to raise up to Rs 8,500 crore equity : The board of public sector lender Bank of Baroda has approved the bank’s plan to raise up to Rs 8,500 crore through common equity shares to support business growth and meet regulatory norms.The Mumbai-based lender would use various modes, including Qualified Institutional Placement (QIP), in suitable tranches up to March 2028 and beyond, as required.The bank’s capital adequacy stood at 15.96 per cent, with Common Equity Tier-I (CET-I) at 12.38 per cent at the end of December 2024. BoB had raised capital via QIP of Rs 4,500 crore during FY21.
2. Shriram Finance raises $500 million via SACE ECB loan: Non-banking finance company (NBFC) major Shriram Finance has raised $500 million via SACE External Commercial Borrowing Push loan facility, with a tenor of 10 years.SACE is an Italian export credit agency run under the government of Italy. Shriram Finance has raised over $2.5 billion in offshore funding in the current financial year.HSBC acted as the sole export credit agency, while Coordinator and ING Bank acted as the social loan coordinator for the transaction.Executive Vice Chairman of Shriram Finance – Umesh Revankar
AWARDS AND HONOURS
1. NTPC Wins Forward Faster Sustainability Award 2025 for Water Resilience: NTPC Ltd., India’s largest integrated power utility, has been honoured with Forward Faster Sustainability Award 2025 in the Water Resilience category.The award was presented at a ceremony organised by the UN Global Compact Network India (UN GCNI) in Chennai.The Forward Faster Sustainability Awards celebrate organisations in India that have made significant strides in advancing sustainability and corporate responsibility, aligning with the United Nations Sustainable Development Goals (SDGs). This recognition reaffirms NTPC’s commitment to integrating sustainable practices in its operations and contributing towards global sustainability goals.
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