Daily GK Update- 7th Feb, 2025

 NATIONAL UPDATES:

 

1. Budget 2025-26: 10,000 New Fellowships Under PMRF Scheme: The Prime Minister’s Research Fellowship (PMRF) scheme, aimed at supporting talented students pursuing doctoral research in India, has received a major boost in Budget 2025.FM Nirmala Sitharaman has announced that 10,000 new fellowships will be awarded over the next five years.Launched in Budget 2018-19, the PMRF scheme provides direct admission to PhD programmes in IITs, IISc, and IISERs, along with attractive financial support. Selected scholars receive a monthly stipend ranging from Rs 70,000 to Rs 80,000, along with a research grant of Rs 2 lakh per year (up to Rs 10 lakh for five years).

 

2. Budget 2025-26: Centre to set up 2nd gene bank with 10 lakh germplasm lines: The government will set up a second Gene Bank with 10 lakh germplasm lines to conserve genetic resources and secure food and nutritional security. This aims to provide conservation support to the public and commercial sectors for genetic resources and to secure future food and nutritional security.A gene bank preserves and stores genetic material, including seeds, tissues and DNA samples from various plant and animal species. . Established in 1972, the International Crops Research Institute for the Semi-Arid Tropics (ICRISAT) Genebank is a well-known institution committed to the preservation and conservation of crop genetic resources.ICRISAT Genebank is a key institution protecting the genetic diversity of 11 vital crops, including various types of millet, chickpea, pigeon pea, and groundnut. It operates globally with facilities in India, Zimbabwe, Niger, and Kenya.In 2019, the ICRISAT set up the world’s first gene bank in Hyderabad that is powered entirely by solar energy.

 

3. Budget 2025-26: New ‘Gyan Bharatam Mission’ for manuscripts announced: The Union Budget 2025-26 announced a special mission for the survey, documentation, and conservation of India’s manuscript heritage. Launched as the ‘Gyan Bharatam Mission’, it intends to cover more than one crore manuscripts.The ‘Gyan Bharatam Mission’ is for undertaking the “survey, documentation and conservation” of India’s manuscript heritage lying with academic institutions, museums, libraries, and private collectors.To accommodate this new initiative, the budget allocation for the National Manuscripts Mission (NMM), whose aim is to identify and document manuscripts and make the manuscript heritage accessible across the country, has been hiked from ₹5 crore to ₹60 crore.The overall allocation for the Culture Ministry has been increased by approximately ₹100 crore with a total outlay of ₹3,360.96 crore as against the revised estimate of ₹3,260.93 crore in the current fiscal.

 

4. Budget 2025-26: National Geospatial Mission announced to modernise land records: Finance Minister Nirmala Sitharaman announced the launch of a National Geospatial Mission in the Budget 2025-26.The mission will be aimed at modernising land records and enhancing urban planning across India. This initiative will leverage the existing PM Gati Shakti framework to develop foundational geospatial infrastructure and data, facilitating improved design and execution of infrastructure projects.Geospatial refers to data or information that is associated with a specific location on the Earth’s surface. The National Geospatial Mission is expected to significantly impact various sectors, particularly in urban development and land management

 

5. Guneri village in Gujarat declared the first biodiversity heritage site: The 32.78-hectare area of Guneri village in Lakhtar tehsil of Kutch district, which is a natural inland mangrove site, has been declared as the first Biodiversity Heritage Site of Gujarat.The Gujarat government made the announcement after considering a recommendation from the Gujarat Biodiversity Board. This will ensure conservation and enrichment of the flora and fauna in the area “through a management plan”.The announcement has been done under the provisions of The Biodiversity Act, 2002. The Act empowers the state government to notify an area as a BHS after consulting concerned local bodies.

 

6. Citibank appoints K Balasubramanian as India head: Citibank appointed, succeeding Ashu Khulla.Balasubramanian will report to Amol Gupte, head of Asia South and banking head. Ashu Khullar will transition to co-head of global asset managers (GAM) with Anthony Diamandakis.Under Khullar’s leadership from 2019 to 2025, Citi India achieved significant growth, becoming a top investment bank in equity capital markets and mergers and acquisitions.

 

7. Noel Tata awarded honorary doctorate by the University of Sussex: The University of Sussex has conferred an honorary doctorate upon Noel Tata, a distinguished business leader within the Tata Group and a proud alumnus of the University.The honorary degree was presented by Professor Sasha Roseneil, Vice-Chancellor and President of the University of Sussex, during a private ceremony held in Mumbai.Noel Tata, who graduated from the University of Sussex in 1978 with a degree in Economics.

 

INTERNATIONAL UPDATES:

 

1. Zepto world’s second-most-downloaded app in food and drink category: Zepto, the Indian quick commerce startup, last year became the world’s second most downloaded mobile app on mobiles in the foods and drinks category, according to data Sensor Tower released.McDonald’s, the US fast food chain, was the most downloaded. Zepto’s rival Blinkit was the tenth most downloaded app in the category.Other Indian companies in the category were food and grocery delivery companies Zomato at number five and its competitor Swiggy at number nine.The category also included fast food and fast casual restaurants, restaurant order and delivery, other food delivery services, dining and listing, reviews and reservations and dining and restaurant apps.

 

2. Jayant Chaudhary inaugurates NSDC International Academy at Greater Noida: Jayant Chaudhary, Minister of State (I/C), Ministry of Skill Development and Entrepreneurship (MSDE) and Minister of State, Ministry of Education inaugurated the NSDC International Academy at Greater Noida, Uttar Pradesh.The academy is a state-of-the-art facility designed to provide world-class skill development and training programmes.With a target of training over 1,000 candidates annually, the NSDC International Academy is committed to addressing the demands of both local and international job markets.With residential facilities accommodating up to 500 candidates, the NSDC International Academy offers an immersive learning environment that promotes both academic and personal growth.

 

3. Following USA, Argentina withdraws from World Health Organization: Argentina announced its decision to withdraw from the World Health Organization (WHO), following the United States’ similar move under President Donald Trump.The decision was made by Argentina’s libertarian President Javier Milei, who instructed Foreign Minister Gerardo Werthein to initiate the withdrawal.President Milei cited “deep differences” regarding the WHO’s management of health issues, particularly its handling of the COVID-19 pandemic.

 

4. 6 February – International Day of Zero Tolerance for Female Genital Mutilation: International Day of Zero Tolerance for Female Genital Mutilation is observed every year on 6 February.The day aims to raise awareness and promote action to end Female Genital Mutilation (FGM), a harmful practice affecting millions of women and girls worldwide Theme 2025- Step up the Pace

In 2012, the UN General Assembly designated February 6th as the International Day of Zero Tolerance for Female Genital Mutilation, with the aim to amplify and direct the efforts on the elimination of this practice. Since 2008, UNFPA, jointly with UNICEF, leads the largest global programme to accelerate the elimination of female genital mutilation.

 

OTHER UPDATES:

DEFENCE

 

1. Indian Army Enhances Firepower with New Contracts: The Indian Ministry of Defence (MoD) recently signed contracts worth Rs 10,147 crore to boost the firepower of the Indian Army. These agreements involve the procurement of advanced munitions for the indigenously developed PINAKA Multiple Launch Rocket System (MLRS). The contracts were signed with Economic Explosives Limited (EEL) and Munitions India Limited (MIL). Additionally, software upgrades were contracted to Bharat Electronics Limited (BEL). This initiative is step in the modernisation of India’s defence capabilities. The MoD’s procurement strategy prioritises indigenous development. Collaborations with private companies like Bharat Forge and Tata Group are expected to strengthen domestic manufacturing. This approach not only enhances military capabilities but also promotes economic growth by encouraging local industries.

 

2. Stryker Infantry Combat Vehicles: Recently, the focus on India-U.S. defence collaboration intensified, particularly concerning the Stryker infantry combat vehicles. This comes in the wake of U.S. President Donald Trump‘s encouragement for India to increase military procurement from the U.S. Prime Minister Narendra Modi’s upcoming visit to Washington D.C. has further brought into light this strategic partnership. The Stryker vehicle’s performance in high-altitude conditions has been a key area of evaluation for the Indian Army. India’s procurement strategy involves a two-stage process. Initially, a small number of Strykers will be directly imported. Subsequently, a larger quantity will be manufactured in India, likely by Bharat Earth Movers Limited (BEML). This approach aims to enhance local defence manufacturing capabilities.

 

SPORTS 

 

1. Two time Grand Slams winner Simona Halep announced Retirement: Two-time grand slam champion and former world No. 1 Simona Halep has retired from tennis.The Romanian announced her decision at the Transylvania Open in Cluj, Romania after losing her first-round match against Lucia Bronzetti 6-1, 6-1.Halep has struggled with injuries since returning to the court last year after serving a doping ban.The 33-year-old was handed a four-year ban in September 2023 after testing positive for the banned substance Roxadustat at the 2022 US Open.

She won her first grand slam at the French Open in 2018, before securing her second at Wimbledon in 2019.

 

SCIENCE AND TECHNOLOGY

 

1. India’s Electric Vehicle Charging Infrastructure Revolution: India’s electric vehicle (EV) charging market is experiencing growth. Recent investments have exceeded $450 million in start-ups focused on charging networks and battery-swapping models. Despite this, the current infrastructure is inadequate. There is only one public charger for every 135 EVs, compared to a global average of one charger for every 6 to 20 EVs. To meet ambitious government targets, urgent expansion of charging facilities is essential. Government initiatives have played important role in attracting investment. The Faster Adoption and Manufacturing of Hybrid and Electric Vehicles (FAME II) scheme and Production-Linked Incentives (PLI) have been implemented. Various state governments have introduced policies offering subsidies and support for land acquisition, particularly in urban areas.

 

2. SARAT Version 2: The Government of India has recently upgraded its Search and Rescue Aid Tool (SARAT) to enhance operational efficiency for search and rescue agencies. The latest version, SARAT version 2, aims to provide faster response times and higher success rates in search-and-rescue operations, particularly in the Indian Ocean region. The latest version introduces several enhancements. The computation of probable search areas is now anchored to the Last Known Position (LKP) of the object. This shift allows for more accurate search area definitions. Previously, the search area was determined based on the point with the minimum longitude, which was less precise.

 

 

 

 

BANKING AND FINANCE

 

1. L & T Finance launches AI-powered Virtual Home Loan Advisor ‘KAI’: L &T Finance Limited (LTF) has introduced Knowledgeable AI (KAI), an AI-powered virtual home loan advisor, designed to simplify and personalize the home loan journey, accessible on their newly redesigned corporate website.KAI addresses challenges like complex terminology, intricate calculations, and lengthy processes, offering intuitive, efficient support to first-time homebuyers, helping them navigate the home loan process smoothly.Utilizing a specialized Large Language Model (LLM), KAI provides personalized guidance, instant EMI calculations, and expert answers, functioning as a 24/7 home loan guide rather than a traditional chatbot.

 

2. Recent Facilities Launched in Banking & Insurance Sector: PNB MetLife partners with Policybazaar to Launch Smart Invest Pension Plan for Early RetirementFinvasia partners with Yes Bank to launch AI-enabled super app ‘Jumpp’Shriram GI Unveils Shri Health Suraksha Insurance – A Comprehensive and Affordable Health PlanTata AIA Life Insurance launches ‘Shubh Muhurat’ to meet wedding expenses IDFC FIRST Bank launched the UPI enabled RuPay Credit Card called – FIRST EARN .

 

3. Airtel Payments Bank partners with Karnataka Bulldozers for CCL 2025: Airtel Payments Bank has partnered with the Karnataka Bulldozers for the Celebrity Cricket League (CCL) 2025.As part of this collaboration, Airtel Payments Bank will be co-sponsoring the team in its quest for victory while promoting safe digital banking solutions to fans across the nation.The Celebrity Cricket League, known for its blend of cricket and entertainment, will begin on 8 February 2025. Through this collaboration, Airtel Payments Bank aims to connect with millions of cricket fans nationwide and reinforce its position as a trusted partner in digital banking.

 

Daily GK Update- 6th Feb, 2025

 NATIONAL UPDATES:

 

1. Budget 2025-26: ₹20,000 Crore Allocated for ‘Nuclear Energy Mission’: Finance Minister Nirmala Sitharaman has announced a ₹20,000 crore ‘Nuclear Energy Mission’ to develop indigenous Small Modular Reactors (SMR).The Budget proposes that at least five of these reactors will be operationalised by 2033.India’s larger goal of ensuring 100 GW of nuclear energy by 2047 and towards this, amendments to the Atomic Energy Act and the Civil Liability for Nuclear Damage Act would be made.

 

2. Budget 2025-26: Maritime Development Fund with ₹25,000-crore corpus: Finance Minister Nirmala Sitharaman has announced a Rs 25,000 crore maritime development fund for the shipping industry among other incentives.This follows complaints from Indian exporters against alleged “arm-twisting” by foreign shipping lines over freight rates amid the ongoing Red Sea crisis.The Rs 25,000 crore maritime development fund will be for distributed support and promoting competition. This will have a 49 per cent contribution by the government and the balance will be mobilised by the ports and the private sector.

 

3. Budget 2025-26: UDAN scheme to add 120 new destinations in next 10 years: Finance minister Nirmala Sitharaman has announced that the government will launch a modified version of its regional connectivity scheme, UDAN (Ude Desh Ka Aam Naagrik), which will set out to connect 120 new destinations over the next 10 years.The finance minister has allocated ₹530 crore for UDAN in 2025-26, compared to the revised estimate of ₹800 crore in 2024-25. The scheme, launched by Prime Minister Narendra Modi in October 2016, aims to make air travel affordable by improving connectivity from unserved and underserved airports.The modified scheme will expand its scope to include support for helipads and smaller airports in hilly, aspirational, and northeastern regional districts, Sitharaman said.According to the Economic Survey, UDAN has already operationalised 619 routes connecting 88 airports, including two water aerodromes and 13 heliports.

 

4. Budget 2025-26: Top 50 tourist destinations to be developed in ‘Challenge Mode’: In a significant boost to tourism, the Union Budget 2025 allocated funds for the development of the top 50 tourist destinations in the country in partnership with State governments through a “challenge mode”.While States will be responsible for providing land for essential infrastructural development, hotels at these destinations will be included in the Harmonised Master List (HML) of infrastructure projects.The government will also promote homestays by extending Mudra loans to these businesses and organising skill development programmes in hospitality institutes. Additionally, it will streamline e-visa facilities and provide visa fee waivers for select tourist groups to attract international visitors.The total Budget allocation for the Ministry for 2025-26 stands at ₹2,541.06 crore, marking a substantial increase from the revised estimate of ₹36 crore in 2024-25.

 

5. India’s First White Tiger Breeding Centre Approved in Madhya Pradesh: Central Zoo Authority (CZA), Ministry of Environment, Forest and Climate Change (MoEFCC), has approved the proposal to set up India’s 1st white tiger breeding centre in Govindgarh area of Rewadistrict in Madhya Pradesh.The breeding centre is expected to enhance biodiversity conservation, promote wildlife tourism, and create job opportunities for the local population.

 

6. Shivraj Singh Chouhan launches a national-level mass outreach campaign “Watershed Yatra” : Union Minister of Rural Development Shivraj Singh Chouhan has launched a national level mass outreach campaign “Watershed Yatra”, in Hybrid mode to generate people’s participation and create awareness about the Watershed Development activities carried out under Watershed Development Component of Pradhan Mantri Krishi Sinchayee Yojana (WDC-PMKSY 2.0) in project areas.A total of about 800 Gram Panchayats and more than one lakh people participated in the Watershed Yatra launch program. The Watershed Yatra will consist of Van movement for around 60-90 days across 805 projects, which cover 6673 GPs (13587 villages) in 26 States and 2 UTs.The Department has developed a Learning Management System (LMS) on Watershed Development and hosted on DoLR’s website, which has also been linked to MY Bharat portal for further engagement of youth.

 

7. ECI’s ‘Chandrayaan Se Chunao Tak’ initiative boosts voter enthusiasm in West Delhi: A captivating and futuristic initiative by the Election Commission of India (ECI) has been turning heads and generating excitement in West Delhi.At a special polling booth in Vikaspuri, voters are greeted with a remarkable theme: “India’s Flight from Chandrayaan to Election.”The booth is unlike any other, featuring models of the Chandrayaan and Gaganyaan, as well as interactive displays of planets through a bioscope and telescope.The idea behind this initiative is to increase voter awareness and enthusiasm, while also celebrating India’s remarkable achievements in space exploration.

 

INTERNATIONAL UPDATES:

 

1. UK becomes first nation to outlaw AI tools used to generate child sexual abuse content : The United Kingdom has become the first country to introduce laws against artificial intelligence tools used to generate sexualised images of children.The government announced that it would make it illegal to possess, create or distribute AI tools that generate abusive images, making it a crime punishable by up to five years in prison.AI tools are being used to generate child sexual abuse images by “nudeifying” real-life images of children or by “stitching the faces of other children onto existing images.

 

2. BAPS inaugurates South Africa’s largest Hindu Temple in Johannesburg: The Bochasanwasi Akshar Purushottam Swaminarayan Sanstha (BAPS) has inaugurated the largest Hindu Temple of South Africa in Johannesburg.The inauguration of BAPS Shri Swaminarayan Mandir and Cultural Complex marks a historic milestone for the Hindu community in the country.This new temple joins a growing network of 35 BAPS temples across Africa, including seven in South Africa.BAPS has currently a global presence with over thirteen thousand temples built across various countries, serving as centres for spirituality, cultural preservation, and community service.

 

3. President Trump signs executive order withdrawing US from UNHRC : President Donald Trump signed an executive order withdrawing the US from the United Nations Human Rights Council (UNHRC), prohibiting any future funding for the UN agency for Palestinian refugees.President Trump also directed the US to review its participation in the UN’s Educational, Scientific and Cultural Organisation (UNESCO).The Executive order said that the United States helped found the United Nations after World War II to prevent future global conflicts and promote international peace and security. Mr. Trump halted funds for UNRWA during his first term. President Joe Biden put a block on US funds for UNRWA in January 2024.

 

OTHER UPDATES:

DEFENCE

 

1. Fort William Renamed as Vijay Durg: ecently, the Indian Army’s Eastern Command headquarters, Fort William, was officially renamed Vijay Durg. This change reflects India’s ongoing efforts to shed colonial legacies and honour its indigenous military history. The decision to rename the fort was made in December 2024, marking a historic shift from British influence in recognition of India’s past. Additionally, Kitchener House inside Fort William was renamed Manekshaw House, and St. George’s Gate has been renamed Shivaji Gate. Fort William stands as a reminder of colonial architecture in India. Its design and construction reflect the military needs of the time. While much of the fort remains unchanged, adaptations have been made to suit contemporary military requirements.

 

2. Bharat Ranbhoomi Darshan Initiative: On the occasion of 77th Army Day, the Defence Ministry launched the Bharat Ranbhoomi Darshan initiative. This programme aims to promote battlefield tourism across India. It focuses on 77 sites that commemorate the sacrifices of the Indian Armed Forces. The initiative is a collaboration between the Indian Army, state governments, and the Ministry of Tourism. It seeks to enhance awareness of India’s military history while ensuring visitor safety. Safety is paramount for visitors to these sensitive locations. The Indian Army has implemented several risk mitigation strategies. Visitors must coordinate with army units for access to high-risk zones. Special permits regulate entry to certain high-altitude areas. Emergency response protocols are in place, ensuring immediate medical assistance when needed.

 

SCIENCE AND TECHNOLOGY

 

1. India Develops Vaccine Candidate Against H5N1: The Indian Council of Medical Research (ICMR) is spearheading the development of a human vaccine candidate against the highly pathogenic avian influenza H5N1. This initiative comes in response to recent outbreaks that have posed threats to both animal and human health in India. The ICMR is inviting eligible organisations and manufacturers to collaborate in this critical research and development effort. H5N1 poses a grave public health risk due to its high mortality rate and potential for a global pandemic. The virus can mutate, allowing sustained human-to-human transmission. Although human cases are rare, they can lead to severe outcomes. The case fatality rate exceeds 50 per cent in infected individuals. Symptoms include fever, respiratory distress, and multi-organ failure.

 

2. Global Concerns Over DeepSeek AI Usage: DeepSeek, a Chinese AI application, has recently faced scrutiny due to privacy and security concerns. Various governments have issued bans on its use, particularly within official capacities. The Finance Ministry of India has advised its employees against using AI tools like DeepSeek and ChatGPT, citing risks to sensitive government data. This advisory comes at a time when India plans to develop its own AI models to compete globally. DeepSeek has been under investigation for its data collection practices. Privacy watchdogs in Europe have raised alarms about how the app handles user data. DeepSeek’s privacy policy states that it stores information on servers in China. This raises fears that user data could be accessed by Chinese authorities.

 

BANKING AND FINANCE

 

1. RBI Approves Tata Communications’ Rs. 330 Crore ATM Business Sale to Findi : The Reserve Bank of India (RBI) has approved Tata Communications’ plan to sell its entire stake in Tata Communications Payment Solutions (TCPSL) to Transaction Solutions International (TSI), the Indian arm of Australian fintech company Findi.The deal, first announced in November 2024, is valued at Rs 330 crore, with an additional Rs 75 crore based on interchange rate adjustments.TSI currently operates more than 7,500 “brown label” ATMs, partnering with banks like SBI, PNB, Central Bank of India, and HDFC. It also manages back-end operations for over 10,000 “white label” ATMs and facilitates digital payments through 50,000+ merchants under its FindiPay brand.

 

2. NaBFID raises Rs 5,000 crore via 15-year bonds at 7.25% cut-off rate: State-owned National Bank for Financing Infrastructure and Development (NaBFID) has raised Rs 5,000 crore through 15-year bonds at a cut-off rate of 7.25 per cent.Additionally, the state-owned Power Finance Corporation (PFC) raised Rs 3,950 crore through bonds maturing in approximately 10 years and 20 years, with cut-off rates of 7.24 per cent and7.25 per cent, respectively.According to market participants, NaBFID’s cut-off rate was considered realistic, given the large state development loan (SDL) issue this week and the increasing selectivity among some of the large long-term investors. The cut-off for ‘AAA’-rated long-term issuance has moved up in the last few months.State–owned REC had raised Rs 1,620 crore through bonds maturing in 10 years at a very attractive cut of 7.10 per cent. During this time, the 10–year government securities yield has come down from 6.74 per cent at the end of November to 6.67 per cent as of February 4.

 

3. PNB MetLife partners with Policybazaar to Launch Smart Invest Pension Plan for Early Retirement: Lift insurance firm PNB MetLife has partnered with Policybazaar to launch the PNB MetLife Smart Invest Pension Plan, a Unit-Linked, Non-Participating Individual Pension Plan, designed to help individuals plan for their golden years.The Smart Invest Pension Plan is designed for individuals between 40 to 50 years of age and offers a flexible approach to early retirement planning.MD & CEO of PNB MetLife – Sameer Bansal

 

AWARDS AND HONOURS

 

1. Chaman Arora awarded Sahitya Akademi Award 2024 in Dogri for his book “Ik Hor Ashwthama”: Sri Madhav Kaushik, President, Sahitya Akademi, has approved Sahitya Akademi Award 2024 in Dogri for Ik Hor Ashwthama (Short Stories) by Late Chaman Arora.The book was selected on the basis of recommendation made by the Jury comprising three members in accordance with the rules and procedures laid down for the purpose.The Award in the form of a casket containing an engraved copper-plaque and a payment of Rs.1,00,000/- will be presented to the family member/nominee of the awardee at a special function will be held on 8 March 2025 at New Delhi.The Sahitya Akademi was formally inaugurated by the Government of India on 12 March 1954.Akademi gives 24 awards annually to literary works in the languages it has recognized and an equal number of awards to literary translations from and into the languages of India. Besides the 22 languages enumerated in the Constitution of India, the Sahitya Akademi has recognised English and Rajasthani as languages in which its programme may be implemented.

 

2. Chandrika Tandon wins Best New Age Album Award at the 67th Grammy: Indian-born American musician Chandrika Tandon won her first Grammy award in the ‘ Best New Age Album, Ambient or Chant Album category’ for her album Triveni at the 67th Grammy Awards 2025.This was the first Grammy Award for the 71-year-old Chandrika Tandon who was once nominated for a Grammy award in 2011 for her album Soul Call.The 67th annual Grammy Awards function was held at Crypto.com Arena in Los Angeles, the United States of America.The Grammy Awards is considered to be one of the most prestigious awards in the music industry and is given annually by the National Academy of Recording Arts & Sciences in the United States of America. The first Grammy Award was given in 1959.

 

 

Daily GK Update- 5th Feb, 2025

 NATIONAL UPDATES:

 

1. Budget 2025-26: Credit guarantee cover for MSMEs, startups enhanced: Finance Minister Nirmala Sitharaman, in her budget speech, announced an increase in the credit guarantee cover under the CGTMSE scheme for MSMEs and startups to facilitate easier access to formal credit.For micro and small enterprises, the cover has been enhanced from the current Rs 5 crore to Rs 10 crore leading to an additional credit of Rs 1.5 lakh crore in the next five years.For startups, the cover has been increased from the current Rs 10 crore to Rs 20 crore while reducing the guarantee fee to 1 per cent for loans in 27 focus sectors. Also, for well-run exporter MSMEs, the cover will be provided for term loans up to Rs 20 crore.FM Sitharaman also announced that customised credit cards for micro enterprises registered on the Udyam portal will be introduced with Rs 5 lakh limit. 10 lakh cards will be issued in the first year.

 

2. Union Budget 2025-26: AI, medical, and technical education get a major boos: The Union Budget for 2025 has announced allocation of Rs 500 crore to create a Centre of Excellence in Artificial Intelligence (AI) dedicated to education. This initiative is set to significantly improve AI education and research at the university level, in line with India’s vision of ‘Industry 4.0’ and ‘Make in India, Make for the World.’The budget lays out plans for expanding infrastructure in five new Indian Institutes of Technology (IITs), aiming to welcome an additional 6,500 students over the next five years. These new IITs, situated in Jammu, Bhilai, Dharwad, Palakkad, and Tirupati, will receive upgrades to their facilities to support the growing student population. Moreover, IIT Patna is set for enhancements in its hostel and other facilities.Over the last decade, the total student enrollment across all 23 IITs has surged from 65,000 to 1.35 lakh, demonstrating the government’s dedication to developing educational infrastructure.

 

3. Union Budget 2025-26: Jal Jeevan Mission extended till 2028: Union Finance Minister Nirmala Sitharaman has announced an extension of the Jal Jeevan Mission (JJM) till 2028 (100% coverage), with an outlay of Rs 67,000 crore in the Union Budget 2025-26.However, the scheme saw a massive cut in allocation at the revised estimate (RE) stage during the current fiscal year 2024-25.Launched in August 2019, the JJM was aimed at providing functional household tap connections (FHTC) to provide 55 lpcd (litre per capita per day) drinking water to all rural households in the country by 2024.Since 2019, 15 crore households representing 80 per cent of India’s rural population have been provided access to potable tap water connections

 

4. Union Budget 2025-26: Centre Launches ₹16,021 Crore Power Reform Scheme to Boost State Infrastructure and Attract Private Investment: The Central Government has introduced a scheme to incentivize states for improving their power infrastructure and opening it to private investment.The scheme allows additional borrowing of 0.5% of GSDP for states that implement power transmission and distribution reforms. A “Reforms Linked Distribution Scheme” with an allocation of ₹16,021 crore aims to attract private investment in the power transmission and distribution sector.The scheme promotes 24×7 sustainable power supply and a financially viable distribution sector by supporting reforms at the state level.Discoms adopting reforms like Public-Private Partnership (PPP) ownership and various franchise models at the distribution level will receive financial assistance.

 

5. Maharashtra makes Marathi mandatory for all official communication: The Maharashtra government has made it mandatory for all officials in government and semi-government offices to speak only in Marathi.The planning department issued the notification, warning that employees who do not follow the directive will face disciplinary action. The decision applies to all communication, official signage, and documentation across the state.The rule applies to all government offices, semi-government offices, local self-government bodies, government corporations, and government-aided establishments.

 

6. Government introduces ‘Haj Suvidha App’ and strengthens healthcare support for Indian pilgrims: The Government of India has taken significant steps to improve the Haj pilgrimage experience by introducing the ‘Haj Suvidha App’ and providing comprehensive healthcare services to Indian pilgrims, with a special focus on the elderly.Pilgrims can access important information such as training materials, accommodation details, flight schedules, baggage tracking, an emergency helpline (SOS), grievance redressal, and feedback.The app also offers language translation services and other essential information to enhance the pilgrim’s experience. For government officials overseeing Haj operations, the app provides real-time monitoring and emergency response tools, ensuring better coordination and accountability.

 

INTERNATIONAL UPDATES:

 

1. International Big Cat Alliance officially comes into force as fully functional international legal entity: The International Big Cat Alliance (IBCA) has officially come into force as a treaty-based, inter-governmental organisation, becoming a fully functional international legal entity on January 23.The Ministry of External Affairs (MEA), acting as the Depository for the Framework Agreement, confirmed that five countries – the Republic of Nicaragua, the Kingdom of Eswatini, the Republic of India, the Federal Republic of Somalia, and the Republic of Liberia – have deposited their instruments of ratification, acceptance, or approval, making them the founding members of the IBCA.What is the Big Cat Alliance?The IBCA was launched by Prime Minister Narendra Modi on April 9, 2023, during an event commemorating the 50th anniversary of Project Tiger. The initiative’s main objective is the conservation of seven major big cat species: the Tiger, Lion, Leopard, Snow Leopard, Cheetah, Jaguar, and Puma.

 

2. Bart De Wever sworn in as Belgium’s new Prime Minister: In Belgium, Bart De Wever has been sworn in as the country’s new prime minister. The oath-taking ceremony took place before King Philippe of Belgium at the Royal Palace.De Wever’s coalition, consisting of five parties, includes seven francophone ministers and seven Flemish ministers in the new government.Airtel’s Gopal Vittal named as acting chair of GSMA board: Gopal Vittal, Vice Chairman and MD of telecom firm Bharti Airtel and Deputy Chair of GSMA, has been appointed as the acting chair of the GSMA (Groupe Spécial Mobile Association) board.The appointment came following the resignation of Jose Maria Alvares-Pallete, Chairman and CEO of Telefonica, from the company.The headquarters of the “Groupe Spécial Mobile Association” (GSMA) is located in London, England, UK

 

3. 4 February – World Cancer Day: World Cancer Day is celebrated on February 4 every year to spread awareness and educate people about the prevention, detection, and treatment of this life-threatening disease.Theme 2024 – United by UniqueThis theme is part of a three-year campaign running from 2025 to 2027, focusing on the personal journeys of cancer patients, survivors, and caregivers. World Cancer Day was first introduced on February 4, 1999.The day is led by UICC and was established in the year 2000.

 

4. 4 February – International Day of Human Fraternity: The International Day of Human Fraternity is observed on February 4 every year to promote peace, tolerance, and mutual understanding among different cultures and religions.Theme 2025 – Human fraternity for world peace and living togetherInternational Day of Human Fraternity was established by the United Nations General Assembly in December 2020 to promote greater cultural and religious tolerance.

The International Day of Human Fraternity was first celebrated by the United Nations on February 4, 2021.

 

5. 1-7 February – World Interfaith Harmony Week: World Interfaith Harmony Week has been observed on 1-7 February by the United Nations General Assembly (UNGA), and serves as a global initiative to promote mutual understanding, interfaith dialogue, and cooperation among different religious communities.It was launched in February 2011 to promote harmony among people of different faiths at a time when interreligious conflict is claiming lives and livelihoods all over the world.Theme 2025 – Uniting for Peace

 

OTHER UPDATES:

DEFENCE

 

1. Fort William Renamed as Vijay Durg: Recently, the Indian Army’s Eastern Command headquarters, Fort William, was officially renamed Vijay Durg. This change reflects India’s ongoing efforts to shed colonial legacies and honour its indigenous military history. The decision to rename the fort was made in December 2024, marking a historic shift from British influence in recognition of India’s past. Additionally, Kitchener House inside Fort William was renamed Manekshaw House, and St. George’s Gate has been renamed Shivaji Gate. The fort houses a museum dedicated to the Indo-Pakistani War of 1971. Artifacts related to the Bangladesh Liberation War are also displayed. Additionally, a war memorial has been established at the entrance, commemorating the sacrifices of Indian soldiers.

 

SCIENCE AND TECHNOLOGY

 

1. OpenAI launches ‘deep research’ tool after China’s DeepSeek shakes AI world: OpenAI has launched a new “deep research” tool in ChatGPT to provide detailed, customized reports, raising the bar in the AI competition.The move comes in response to China’s DeepSeek chatbot, which has disrupted the AI landscape with advanced research capabilities.Users can access “deep research” by selecting the feature in the ChatGPT message composer and entering their query for comprehensive insights.The tool supports file and spreadsheet attachments, offering context for better responses, with a sidebar that tracks steps and sources used in generating the report.

 

2. Uganda Launches First Clinical Trial for Ebola Vaccine: Recently, Uganda initiated a groundbreaking clinical trial for a vaccine targeting the Sudan species of the Ebola virus. This move, in collaboration with the World Health Organization (WHO) and global partners, follows the confirmation of an outbreak on January 30. The speed of this trial is unprecedented, marking advancement in emergency vaccine research. The study employs a randomised, ring vaccination strategy. This method has proven effective in containing outbreaks by vaccinating those who have been in close contact with infected individuals. The first phase will involve approximately 40 participants, including contacts of the first confirmed case.

 

BANKING AND FINANCE

 

1. TVS Holdings completes acquisition of Home Credit India for ₹554 crore: TVS Holdings Ltd. has completed the acquisition of 80.74% equity stake in Home Credit India Finance Private Ltd. for ₹554 crore. The balance 19.26% of the equity stake has been purchased by Premji Invest and associates of TVS Holdings.This acquisition aligns seamlessly with TVS Holdings’ mission to strengthen its presence in the financial services sector.The acquisition of Home Credit was funded through a combination of proceeds from the recent sale of the company’s real estate assets and borrowings from capital markets.MD of TVS Holdings – Sudarshan Venu

 

2. CreditAccess Grameen secures USD 50 million commitment from IFC: CreditAccess Grameen has secured approval for a USD 50 million commitment from the International Finance Corporation (IFC).This transaction is a testament to CA Grameen’s ongoing efforts to strengthen its asset liability management (ALM) position given flexible repayment structures and maintaining geographical diversification to hedge against market volatility.IFC’s investment will help enhance access to finance for microentrepreneurs with a particular focus on women borrowers engaged in agriculture and agri-related activities. The funding will help CA Grameen reach 3-4 million additional women borrowers over the lifecycle of the project.

 

Daily GK Update- 4th Feb, 2025

 NATIONAL UPDATES:

 

1. Budget 2025-26: Fiscal Deficit for FY26 estimated at 4.4% of GDP: Finance Minister Nirmala Sitharaman pegged fiscal deficit, the difference between expenditure and income, to 4.4 per cent of GDP (gross domestic product) for fiscal year 2025-26.The fiscal deficit target has been set at 4.4 per cent of GDP, down from 4.8 per cent in the previous year’s revised estimates, as the government moves forward with fiscal consolidation plans.Under the revised Fiscal Responsibility and Budget Management (FRBM) Act 2003, the government is mandated to reduce the fiscal deficit below 4.5 per cent by FY26.To finance the fiscal deficit, the net market borrowings from dated securities are estimated at ₹54 lakh crore.India’s Union Budget for FY26 has set total government expenditure at ₹65 trillion, marking an increase from ₹47.16 trillion in the revised estimates for 2024-25.

 

2. Budget 2025-26: ₹8,900 crore additional allocation for residential rooftop solar: The Budget 2025-26 makes an allocation of ₹20,000 crore, under ‘revenue expenditure’ for the PM Surya Garh Muft Bijli Yojana (PMSGMBY) — a scheme that provides incentives for setting up small-scale rooftop solar plants on residential roofs.This is a huge jump from the ₹6,250 crore allocation made in the Budget for 2024-25, which stood increased to ₹11,100 crore in the revised estimates for the year. The near doubling of revised estimates over the budgeted amount for 2024-25 indicates the scheme took off quite well.As such, the government has once again increased the allocations to the scheme this year, by 80 per cent over the revised estimates for last year.The PMSGMBY was launched in February 2024 with a 4-year outlay of ₹75,021 crore, with a view to engendering 10 million small-size residential rooftop installations. As of December 2024, about 700,000 installations have been completed.

 

3. Budget 2025-26: New Makhana Board and Food Institute to be opened in Bihar: Union Finance Minister Nirmala Sitharaman has announced, a special Makhana Board will be established in Bihar to enhance the production, marketing, and value addition of Makhana.Farmers engaged in Makhana cultivation will be categorized as Follow-On Public Offers (FPOs) and receive training and support.The Board will ensure that Makhana farmers benefit from government schemes and receive necessary assistance.A National Institute of Food Technology, Processing, and Innovation will also be established in Bihar to promote the food sector.This initiative aims to increase farmers’ income, promote value addition, and create skilling and employment opportunities in eastern India.

 

4. Budget 2025: Govt Launches ‘Mission for Aatmanirbharta in Pulses’ to Increase Production and Farmers’ Income: The Union budget 2025-26 has proposed Aatmanirbharta or self-sufficiency in pulses and the farmers of Rajasthan are seeing a silver lining in this as special attention would be given to the production of Tur, Urad and Masoor.The government will now launch a 6-year ‘Mission for Aatmanirbharta in Pulses’ with a special focus on Tur, Urad and Masoor. Central agencies (NAFED and NCCF) will be ready to procure these 3 pulses, as much as offered during the next 4 years from farmers who register with these agencies and enter into agreements.The pulse-producing farmers of Rajasthan will be directly benefited by this scheme. Lentils are produced in large quantities in Western Rajasthan and Kota. It is cultivated in about 38 lakh hectares in the entire state, which makes this region prominent in pulse yield.

 

5. DGCA imposes Rs 30 lakh penalty on Air India for regulatory norms violation: Aviation safety regulator DGCA has imposed a penalty of Rs 30 lakh on Tata Group-owned Air India for allegedly allowing one of its pilots to operate a flight without complying with certain regulatory requirements.The order to slap penalty came after the response of a show-cause notice to Air India’s head of operations and head of rostering, among other executives, on December 13, 2024 was found “unsatisfactory.”

 

INTERNATIONAL UPDATES:

 

1. 2 February – World Wetlands Day: World Wetlands Day is observed annually on February 2 to raise awareness about the vital role of wetlands in sustaining biodiversity and supporting human well-being.Theme 2025 – Protecting Wetlands for Our Common FutureThe day marks the signing of the Ramsar Convention on Wetlands in 1971, a key international treaty aimed at conserving wetlands globally.

 

2. UK-EU Relations Post-Brexit: Recently, UK Prime Minister Sir Keir Starmer is making progress in reshaping the relationship between the United Kingdom and the European Union. His recent visit to Brussels marks the first time a British prime minister has engaged with EU leaders since Brexit. This visit aims to enhance cooperation in defence, security, crime, and trade amidst geopolitical challenges, including the ongoing war in Ukraine and the return of Donald Trump to the White House. Starmer’s government aims to establish a “reset” with the EU. The focus is on creating a better relationship without rejoining the single market or customs union. The government is under pressure from various political factions. Conservative leaders accuse Labour of attempting to re-enter the EU, while others call for more extensive negotiations.

 

OTHER UPDATES:

DEFENCE

 

1. India-Maldives Joint Military Exercise ‘Ekuverin’ Begins: The 13th edition of joint military exercise ‘Ekuverin’ between the Indian Army and the Maldives National Defence Force has commenced in the archipelago nation.In 2023, it was conducted at Chaubatia in Uttarakhand from June 11 to 24.Ekuverin meaning ‘Friends’ in Dhivehi language.Indian Army and the Indian Air Force conducted a major military exercise, Exercise Devil Strike18th edition of Exercise Surya Kiran between India and Nepal Military – Saljhandi, NepalNaval Exercise SLINEX 2024 between Sri Lanka and India- VisakhapatnamJoint Military Exercise Harimau Shakti 2024 between India and Malaysia – Bentong camp, Pahang district, Malaysia.1^st edition of Joint Tabletop Exercise, CINBAX between India and Cambodia – Foreign Training Node, Pune, Maharashtra.

 

SPORTS 

 

1. Shrachi Rarh Bengal Tigers win men’s Hockey India League 2024-25 Title: Shrachi Rarh Bengal Tigers won the 6th Men’s Hockey India League 2024-25 title, beating Hyderabad Toofans 4-3 in a tense final at a packed Birsa Munda International Hockey Stadium in Rourkela.Odisha.This was the first title win for the Shrachi Rarh Bengal Tigers, winning them a prize of Rs 3 crore. The runners-up Hyderabad Toofan won Rs 2 crore as prize money.Earlier, the Odisha Warriors won the first edition of the Women’s Hockey India League 2024-25 title by defeating Soorma Hockey Club 2-1 in the final.

 

SCIENCE AND TECHNOLOGY

 

1. Maharashtra to establish country’s first Artificial Intelligence university: Maharashtra will establish the first Artificial Intelligence (AI) university in the country and a task force has been formed for the planning and implementation of the project.The task force includes experts from the academia, industry and government. The task force will be chaired by the Information Technology department’s principal secretary.The university will promote research and development in AI and related fields and will be a centre of excellence, encouraging collaboration between the industry, academia and government.It includes directors of the IIT Mumbai and IIM Mumbai, representatives from organisations like Google India, Mahindra Group, and L&T, and officials from the Ministry of Electronics and Information Technology, Government of India.Experts from the Rajiv Gandhi Science and Technology Commission and the Data Security Council of India are also part of the task force.

 

BANKING AND FINANCE

 

1. UPI volume scales new peak of 16.99 billion in January: NPCI data: Unified Payments Interface (UPI) transactions saw a marginal 6 per cent month-on-month increase in volume to 16.99 billion in January, up from 16.73 billion in December 2024. This was a new record in terms of volume, since the digital system became operational in April 2016.In November, the volume was seen at 15.48 billion. On the other hand, the value also increased by 1 per cent to Rs 23.48 trillion, up from Rs 23.25 trillion in December. This was seen at Rs 21.55 trillion in November, and Rs 23.5 trillion in October, the highest so far in terms of value, said data from the National Payments Corporation of India (NPCI).January saw a 39 per cent rise in volume, and 28 per cent value, compared to the same month last financial year. The average daily transactions during the month were 548 million, translating to around Rs 75,743 crore.

 

2. GST collections in January at Rs 1.96 lakh crore: Goods and Services Tax (GST) collections for the month of January touched Rs 1.96 lakh crore, an increase of 12.3% year-on-year basis.For the previous month, India’s GST collections rose 7.3% to Rs 1.77 lakh crore in December compared to the previous year. This growth slowed from an 8.5% increase in November.Central GST collections stood at Rs 36,100 crore while states were at Rs 44,900 crore. Additionally, for this month, integrated GST collections remained at Rs 1.01 lakh crore. Furthermore, GST cess collections was reported at Rs 13,400 crores.