Daily Current Affairs February 24

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February 24 | Daily Current Affairs 2024

Sports – Daily Current Affairs February 24

1. Who became the fastest batter to reach 14,000 ODI runs, breaking Sachin Tendulkar’s record?
A) Rohit Sharma
B) Steve Smith
C) Kumar Sangakkara
D) Virat Kohli
E) Babar Azam
Answer: D) Virat Kohli

Event and Location:

• Event: Virat Kohli became the fastest batter to reach 14,000 ODI runs, breaking Sachin Tendulkar’s record
• Date: February 24, 2025
• Location: Dubai International Cricket Stadium, UAE

Milestone and Achievements:

• Fastest to 14,000 ODI Runs: Virat Kohli achieved this milestone in 287 innings, surpassing Sachin Tendulkar (350) and Kumar Sangakkara (378)
• Performance in Milestone Match: Kohli scored an unbeaten 100* (51st ODI century) in India’s successful chase of 242 against Pakistan
• Consistency in ODI Milestones: He has been the fastest to every 1,000-run milestone since reaching 8,000 runs in 2017
• Third Batter to Reach 14,000 Runs: Kohli joins Sachin Tendulkar and Kumar Sangakkara in this elite club
• Most ODI Centuries: Kohli now holds 51 centuries in ODIs, breaking Tendulkar’s previous record of 49

Comparison of Milestone Achievers:

Important Terms Explained:

• ODI (One Day International): A limited-overs cricket format where each team gets 50 overs per innings
• Champions Trophy: A major ICC tournament, considered the second most prestigious after the World Cup
• Fastest to Milestone: A record measured by the least number of innings taken to reach a specific run total
• ODI Century: A score of 100+ runs in a single innings of an ODI match

Tabular Summary:

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2. Which Indian squash player made a comeback from retirement and won the Octane Sydney Classic title?
A) Ramit Tandon
B) Vikram Malhotra
C) Mahesh Mangaonkar
D) Saurav Ghosal
E) Harinder Pal Sandhu
Answer: D) Saurav Ghosal

Event and Location:

• Event: Saurav Ghosal made a triumphant return from retirement by winning the Octane Sydney Classic title
• Date: February 24, 2025
• Location: Sydney, Australia

Key Highlights of Saurav Ghosal’s Victory:

• Comeback Decision:
  • Retired from the PSA Tour in April 2023 but aimed to continue representing India
  • Rejoined the PSA Tour on January 1, 2025
• Tournament Performance (Octane Sydney Classic):
  • Finals: Defeated Abdelrahman Nasser (Egypt) 3-0 (11-2, 11-6, 11-2)
  • Semifinals: Overcame Rhys Dowling (Australia) 3-1 (11-9, 5-11, 11-1, 11-2)
  • Quarterfinals: Beat Minwoo Lee (Korea) 3-0 (11-6, 11-6, 11-5)
  • Second Round: Defeated Kijan Sultana (Malta) 3-0 (11-8, 11-2, 11-8)
  • First Round: Received a bye
• Career Achievements:
  • Former World No. 10 in Squash
  • 12 Medals in Major Tournaments (Asian Games & Commonwealth Games)
  • India’s Most Decorated Squash Player
• Impact of Victory:
  • Marks a strong return to competitive squash
  • Boosts his chances of representing India in international tournaments
  • Reinforces his legacy as one of India’s greatest squash players

Tabular Summary:

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Obituary – Daily Current Affairs February 24

3. Which legendary Odissi dancer, known as the “Father of Odissi dance,” passed away on February 22, 2025?
A) Kelucharan Mohapatra
B) Sonal Mansingh
C) Mayadhar Raut
D) Madhavi Mudgal
E) Guru Pankaj Charan Das
Answer: C) Mayadhar Raut

Event and Location:

• Event: Legendary Odissi dancer Mayadhar Raut passed away at the age of 92
• Date: February 22, 2025
• Location: Delhi, India

Key Contributions of Mayadhar Raut:

• Revival of Odissi Dance:
  • Played a major role in restructuring Odissi based on scriptural principles
  • Co-founded Kala Vikas Kendra (1952), India’s first Odissi dance institute
  • Founded Jayantika Association (1959) to establish a structured framework for Odissi
• Innovations in Odissi:
  • Introduced Sanchari Bhava, Mudra Viniyoga, and Rasa Theory
  • First guru to choreograph Gitagovinda Ashtapadis with Shringara Rasa
• Notable Positions & Choreographies:
  • Head of Odissi Department at Shriram Bharatiya Kala Kendra (1970-1995)
  • Choreographed Gitagovinda, which inaugurated Kamani Auditorium, Delhi (1971)
  • Trained leading Odissi dancers, including Ramani Ranjan Jena, Aloka Panikar, and Geeta Mahalik

Awards & Recognitions:

• Orissa Sangeet Natak Akademi Award (1977)
• Sangeet Natak Akademi Award (1985)
• Padma Shri for contributions to Odissi dance
• Tagore Akademi Ratna (2011)
• Rajiv Gandhi Sadbhavana Award (2003)

Personal Life & Passing:

• Born: July 6, 1933, Odisha
• Survived by daughter Madhumita Raut and sons Manoj Raut & Manmath Raut
• Last rites were performed at Lodhi Road crematorium, Delhi

Tabular Summary:

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Ranking – Daily Current Affairs February 24

4. Which university ranked first in the Times Higher Education (THE) World Reputation Rankings 2025?
A) Stanford University
B) Harvard University
C) University of Oxford
D) Massachusetts Institute of Technology (MIT)
E) California Institute of Technology
Answer: B) Harvard University

Event and Location:

• Event: Harvard University topped the Times Higher Education (THE) World Reputation Rankings 2025, with Oxford and MIT jointly ranked second
• Date: February 24, 2025
• Location: Global

Global Rankings:

• Rank 1: Harvard University (USA) – Retained top spot for the 14th consecutive year
• Rank 2 (Shared): University of Oxford (UK) & Massachusetts Institute of Technology (MIT) (USA)
• Total Institutions Ranked: 300 universities from 38 countries
• US Dominance: US universities continue to lead, with Oxford being the only UK institution in the top 7

Performance of Indian Universities:

• IISc Bengaluru: Dropped from the 101-125 band (2023) to the 201-300 band (2025)
• IIT Delhi: Fell from 151-175 to the 201-300 band
• IIT Madras: Declined from 176-200 to the 201-300 band
• IIT Bombay: Removed from the rankings after previously being in the 151-175 band
• Shiksha ‘O’ Anusandhan (SOA), Bhubaneswar: Entered the rankings for the first time in the 201-300 band

World Reputation Rankings 2025 Methodology:

• Research Vote Count: Reputation in academic research
• Teaching Vote Count: Excellence in teaching
• Research Pairwise Comparison: Direct institutional comparison of research strength
• Teaching Pairwise Comparison: Evaluation of teaching quality among institutions
• Research Voter Diversity: Diversity of researchers in the voting process
• Teaching Voter Diversity: Inclusion of faculty from various global institutions

Tabular Summary:

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5. Which country has the highest defence budget in 2025?
A) China
B) Russia
C) India
D) United States
E) Saudi Arabia
Answer: D) United States

Event and Location:

• Event: The United States tops the list of countries with the highest defence budget in 2025, while India ranks 4th globally
• Date: February 24, 2025
• Location: Global

Top 10 Countries with the Highest Defence Budgets (2025):

Key Observations:

• The United States continues to lead with $895 billion, maintaining its military dominance
• China ranks second, investing $266.85 billion in strengthening its armed forces
• Russia significantly increased its budget to $126 billion, largely due to the Ukraine war
• India holds the 4th position with $75 billion, reaffirming its strong military presence
• Ukraine has entered the top 10 list amid the ongoing Russia-Ukraine conflict

India’s Defence Budget 2025:

• Total Allocation: ₹6.81 lakh crore (~$75 billion)
• Percentage of Union Budget: 13.45% (highest among all ministries)
• Global Firepower Ranking: 4th with a power score of 0.1184

Key Areas of India’s Defence Spending:

• Procurement of fighter jets, warships, and submarines
• Strengthening border security with China & Pakistan
• Investment in indigenous defence production under Make in India
• Enhancement of cybersecurity and space defence capabilities

Why Are Defence Budgets Increasing Globally?

1. Geopolitical Tensions:
   • Russia-Ukraine war continues, leading to increased military spending in Europe
   • China-Taiwan conflict & South China Sea disputes escalate security concerns
   • NATO’s expansion and rising US-China-Russia tensions drive higher investments
2. Technological Advancements in Warfare:
   • Growth in AI-driven military technology, cyber warfare, and hypersonic missiles
   • Expansion of nuclear deterrence programs and space-based defence systems
3. Strengthening Strategic Alliances:
   • India’s Quad Alliance (US, Japan, Australia) contributes to increased military cooperation
   • Defence partnerships like AUKUS, NATO, and BRICS impact global defence budgets

Future of Global Defence Spending:

• Military spending is expected to rise due to new-generation weapons and cyber threats
• India aims for self-reliance in defence production to reduce import dependency
• Expansion of military alliances and geopolitical instability will shape future investments

Tabular Summary:

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Banking and Finance – Daily Current Affairs February 24

6. What is the main reason for the decline in bank credit growth to NBFCs in 2024?
A) Decrease in loan demand from NBFCs
B) RBI’s increase in risk weights on NBFC loans
C) Higher interest rates on personal loans
D) Increased foreign investments in NBFCs
E) Rise in NPAs of public sector banks
Answer: B) RBI’s increase in risk weights on NBFC loans

Event and Location:

• Event: Bank credit growth to NBFCs dropped to a four-year low of 6.7% in 2024 due to increased risk weights and tighter credit conditions
• Date: February 24, 2025
• Location: India

Main Reason for the Decline:

• Increased Risk Weights: RBI raised the risk weights on bank loans to NBFCs, making lending costlier for banks
• Tighter Credit Environment: Banks are more cautious in lending due to economic uncertainties and liquidity concerns
• Market Conditions: Changing financial trends and regulatory measures have impacted NBFC funding sources

Past Trends & Decline Since 2022:

• Stronger Credit Growth Previously: NBFCs were key borrowers from banks in earlier years
• Declining Growth Since 2022: The slowdown started post-2022, leading to the current low of 6.7%

Impact on NBFCs & Economy:

• Funding Challenges: NBFCs may need to rely on bond markets, foreign investments, or securitization
• Effect on Consumer Credit: Could impact retail lending, MSME loans, and vehicle financing
• Regulatory Stability: RBI’s move ensures financial stability but limits easy credit availability

Tabular Summary:

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7. What was the total bid amount received in RBI’s OMO purchase auction on February 20, 2025?
A) ₹40,000 crore
B) ₹1.25 trillion
C) ₹1.87 trillion
D) ₹75,000 crore
E) ₹2.10 trillion
Answer: C) ₹1.87 trillion

Event and Location:

• Event: RBI’s OMO purchase auction on February 20, 2025, received ₹1.87 trillion in bids amid a severe liquidity crunch
• Date: February 20, 2025
• Location: India

Auction Details & Liquidity Deficit:

• Notified Auction Size: ₹40,000 crore
• Total Bids Received: ₹1.87 trillion (Oversubscribed due to high liquidity demand)
• Liquidity Deficit: ₹1.77 trillion as of February 19, 2025
• Top Participants: Public sector banks were the major bidders

Recent RBI Liquidity Measures:

• OMO Purchases: ₹1 trillion in government securities through various auctions
• Screen-Based OMOs: ₹58,875 crore in January 2025
• Secondary Market Interventions: ₹39,000 crore in bond purchases

Impact on Market & Monetary Policy:

• Corporate Bond Yields: Increased due to tight liquidity conditions
• Yield Spread: Widened by 25 basis points in February
• Economic Concerns: Inverted yield curve signals possible credit market stress
• Expert Opinion: Analysts suggest durable liquidity measures over short-term fixes like Variable Rate Repo (VRR)

Possible Future Actions by RBI:

• CRR Adjustments: Reducing the Cash Reserve Ratio to free up bank funds
• ICRR Modifications: Adjusting the Incremental CRR to manage liquidity absorption
• Foreign Exchange Swaps: Managing liquidity through currency operations
• Long-Term Repo Operations (LTROs): Providing long-term funding at stable rates

Tabular Summary:

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8. Which insurance company became the first in India to launch the Bima-ASBA facility?
A) LIC of India
B) SBI Life Insurance
C) HDFC Life Insurance
D) Bajaj Allianz Life Insurance
E) ICICI Prudential Life Insurance
Answer: D) Bajaj Allianz Life Insurance

Event and Location:

• Event: Bajaj Allianz Life became the first insurer in India to launch the Bima-ASBA facility, enhancing transparency and security in premium payments
• Date: February 22, 2025
• Location: India

Key Details of Bima-ASBA:

• Concept: A payment mechanism allowing policyholders to block premium amounts in their bank accounts instead of paying upfront
• Regulatory Backing: Introduced by IRDAI to simplify insurance payments and refunds
• Maximum Blocked Amount: Up to ₹2 lakh per policy using UPI’s One-Time Mandate (OTM)
• Refund Mechanism: If the policy is not issued within 14 days or gets rejected, the blocked amount is automatically unblocked

Key Benefits for Customers:

• No Upfront Payment: Policyholders retain control over their funds during the policy approval process
• Instant Refunds: If the policy is not approved, the blocked amount is released without delay
• Interest Earnings: Money remains in the account, earning interest until the payment is finalized
• Financial Security: Reduces concerns about refund delays and transaction failures

Impact on the Insurance Industry:

• Boosts Trust in Insurance: Eliminates concerns about refund processes and increases policyholder confidence
• Encourages Digital Transactions: Strengthens the adoption of UPI-based payments in the insurance sector
• Supports IRDAI’s Vision: Aligns with the ‘Insurance for All by 2047’ goal by promoting digital and transparent financial services

Tabular Summary:

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9. Why did the RBI impose a ₹39 lakh penalty on Citibank?
A) Failure to maintain capital adequacy ratio
B) Delay in reporting large exposure breaches and credit data corrections
C) Non-compliance with priority sector lending norms
D) Violation of forex transaction guidelines
E) Mismanagement of customer grievance redressal system
Answer: B) Delay in reporting large exposure breaches and credit data corrections

Event and Location:

• Event: The RBI imposed monetary penalties on Citibank, Asirvad Micro Finance, and JM Financial Home Loans for regulatory violations
• Date: February 24, 2025
• Location: India

Penalties Imposed:

• Citibank: ₹39 lakh for failing to report large exposure breaches on time and delaying credit data corrections
• Asirvad Micro Finance: ₹6.20 lakh for non-reporting of borrower incomes and missing factsheets for gold loan customers
• JM Financial Home Loans: ₹1.50 lakh for failing to disclose risk gradation methodology and interest rate details

Key Regulatory Violations:

• Citibank:
  • Failed to report breaches under RBI’s Large Exposure Framework within the required timeframe
  • Delayed updating corrected credit data with Credit Information Companies (CICs) beyond the 7-day deadline
• Asirvad Micro Finance:
  • Did not report household incomes of some borrowers to Credit Information Companies (CICs)
  • Did not provide factsheets to gold loan customers, violating lending disclosure norms
  • Lacked an escalation mechanism for grievance redressal, failing to forward rejected complaints to the Internal Ombudsman
• JM Financial Home Loans:
  • Did not disclose risk gradation methodology for loan applicants
  • Failed to clarify the reasons for different interest rates in sanction letters
• Impact on the Banking & NBFC Sector:
  • Strict Regulatory Oversight: RBI’s action reinforces compliance requirements for financial institutions
  • Consumer Protection: Ensures fair lending practices and transparency in customer transactions
  • Warning to Other Entities: Encourages banks and NBFCs to strictly adhere to RBI guidelines to avoid penalties

Tabular Summary:

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10. Why did SEBI impose a ₹10 lakh penalty on Axis Securities?
A) Non-compliance with insider trading rules
B) Reporting discrepancies and mishandling client funds
C) Engaging in fraudulent trading practices
D) Unauthorized trading in derivative markets
E) Failing to disclose financial statements
Answer: B) Reporting discrepancies and mishandling client funds

Event and Location:

• Event: SEBI imposed a ₹10 lakh penalty on Axis Securities for multiple regulatory violations
• Date: February 24, 2025
• Location: India

Key Violations by Axis Securities:

• Reporting Discrepancies: Failed to maintain accurate records in stock exchange reports, leading to mismatches in depository account holdings
• Mishandling of Client Funds: Did not settle funds and securities as per customer preferences and transferred securities to unauthorized accounts
• Improper Penalty Allocation: Wrongly passed margin shortfall penalties onto clients instead of bearing them as per stockbroker regulations
• Inadequate Grievance Redressal: Failed to resolve customer complaints efficiently, highlighting compliance weaknesses

Regulatory Action by SEBI:

• Penalty Imposed: ₹10 lakh
• Compliance Deadline: Must be paid within 45 days
• Inspection Period: April 2021 – November 2022

Past SEBI Actions on Axis Group:

• Axis Capital (September 2024): SEBI barred Axis Capital from acting as a merchant banker for new debt issues due to regulatory violations
• Partial Ban Lifted (November 2024): SEBI allowed limited activities but maintained restrictions on certain operations

Impact on Brokerage Firms & Market:

• SEBI’s Strict Oversight: Reinforces compliance requirements for brokerage firms
• Investor Protection: Ensures transparency and prevents misuse of client funds
• Warning to Other Brokers: Highlights the importance of following SEBI’s regulatory framework

Tabular Summary:

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11. On which date will the PM Kisan 19th installment be released in 2025?
A) January 26, 2025
B) February 10, 2025
C) February 24, 2025
D) March 1, 2025
E) March 15, 2025
Answer: C) February 24, 2025

Event and Location:

• Event: PM Kisan 19th Installment 2025 to be released, providing financial assistance to farmers
• Date: February 24, 2025
• Location: Bhagalpur, Bihar

Key Details of PM Kisan 19th Installment:

• Scheme Name: Pradhan Mantri Kisan Samman Nidhi (PM-KISAN)
• Installment Amount: ₹2,000 per farmer
• Total Funds Transferred: ₹22,000 crore
• Total Beneficiaries: 9.8 crore farmers
• Launch Year: 2019

Eligibility Criteria for PM Kisan Scheme:

• Eligible Farmers: Small & marginal farmers with cultivable land
• Not Eligible:
  • Institutional landholders
  • Farmers paying income tax
  • Pensioners earning over ₹10,000 per month

Financial Impact of PM Kisan Scheme:

• Since Launch: ₹3.46 lakh crore distributed
• Objective: To provide financial stability and improve agricultural productivity

Tabular Summary:

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12. Why has the RBI announced a $10 billion forex swap in February 2025?
A) To strengthen the rupee against the US dollar
B) To inject liquidity into the banking system and ease cash shortages
C) To attract foreign investments in India
D) To reduce inflation and control money supply
E) To increase India’s foreign exchange reserves
Answer: B) To inject liquidity into the banking system and ease cash shortages

Event and Location:

• Event: RBI announced a $10 billion forex swap to address the liquidity crunch in the banking system
• Date: February 28, 2025
• Location: India

About the Forex Swap:

• Mechanism: RBI will purchase US dollars from banks in exchange for rupees and sell the dollars back at a future date
• Objective: To inject rupee liquidity into the banking system
• Impact: Expected to lower short-term interest rates and ease liquidity stress

Reason for the Liquidity Crunch:

• Banking system deficit: Estimated liquidity shortfall of ₹2 trillion
• Fiscal Year-End Stress: March is a tight liquidity period due to increased fund requirements
• RBI’s Dollar Sales: The central bank has aggressively sold dollars to stabilize the rupee amid global market volatility
• Global Factors: Tariff policies under US President Donald Trump have affected currency markets

RBI’s Additional Measures to Boost Liquidity:

• Open Market Operations (OMO): Bond purchases to support liquidity
• Variable Repo Auctions: Longer-term funding for banks
• Interest Rate Cuts: First reduction in nearly five years to support economic growth

Market Reactions & Expert Opinions:

• Traders expect relief in short-term interest rates and improved liquidity
• Debendra Dash (AU Small Finance Bank): RBI’s move will help manage fiscal year-end liquidity stress

Tabular Summary:

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Business and Economy – Daily Current Affairs February 24

13. According to Moody’s Analytics, what is India’s projected GDP growth rate for 2025?
A) 7.0%
B) 6.8%
C) 6.4%
D) 6.0%
E) 5.8%
Answer: C) 6.4%

Event and Location:

• Event: Moody’s Analytics projects India’s GDP growth to slow to 6.4% in 2025 due to global trade tensions and weakening exports
• Date: February 24, 2025
• Location: India

Key GDP Projections:

• India’s GDP Growth Forecast: 6.4% in 2025, down from 6.6% in 2024
• China’s GDP Forecast: 4.2% in 2025, down from 5% in 2024
• Global GDP Growth Forecast: 2.8% in 2025 (UN projection)

Reasons for India’s GDP Slowdown:

• Trade Tensions: New U.S. tariffs may make Indian exports less competitive
• Weak Global Demand: Slower economic activity worldwide reduces demand for Indian goods
• Asia-Pacific Slowdown: China’s declining growth impacts regional trade and supply chains
• Currency and Investment Issues: Weaker rupee, declining FDI, and inflation concerns

Government’s Response to the Slowdown:

• Fiscal and Monetary Reforms: Policies to control inflation, strengthen the rupee, and attract investments
• Budgetary Focus: Increasing domestic demand through infrastructure investments and employment generation
• Private Sector Growth: Encouraging private consumption and investment to sustain economic momentum

Tabular Summary:

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14. What is India’s projected GDP range by 2047 according to Bain & Company and Nasscom?
A) $15 trillion – $25 trillion
B) $18 trillion – $30 trillion
C) $23 trillion – $35 trillion
D) $20 trillion – $32 trillion
E) $25 trillion – $40 trillion
Answer: C) $23 trillion – $35 trillion

Event and Location:

• Event: India is projected to achieve high-income status by 2047, with GDP estimated between $23 trillion and $35 trillion
• Date: February 24, 2025
• Location: India

Key Projections:

• GDP Growth: Expected to reach $23 trillion – $35 trillion by 2047
• Services Sector Contribution: To account for 60% of GDP
• Manufacturing Sector Contribution: Expected to reach 32% of GDP
• Manufacturing Export Share: To rise from 24% to 45%-50% by 2047
• Renewable Energy Growth: Share in total energy production to increase from 24% (2023) to 70% (2047)

Workforce & Economic Impact:

• Workforce Growth: 200 million people to enter the job market in the next two decades
• Potential Shortfall: 50 million skilled workers by 2030 if skill development is not prioritized
• Technology’s Role: AI, chip design, and touchless manufacturing to drive efficiency and innovation

Key Sectors Driving Growth:

• Electronics: Expansion in semiconductor and device manufacturing
• Energy: Strong push towards renewable energy solutions
• Chemicals: Growth in domestic and export markets
• Automotive: EV sector and auto-component exports projected to reach $200-250 billion by 2047
• Services: IT, finance, and healthcare to remain dominant contributors

Challenges & Path Forward:

• Infrastructure Development: Need for better transport, digital connectivity, and logistics
• Skill Gaps: Investment in STEM education, vocational training, and workforce development
• Innovation & R&D: Strengthening research capabilities to maintain global competitiveness

Tabular Summary:

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Appointments – Daily Current Affairs February 24

15. Who has been appointed as the new Director of the Institute of Economic Growth (IEG) in 2025?
A) Arvind Subramanian
B) Raghuram Rajan
C) Sabyasachi Kar
D) Chetan Ghate
E) Bibek Debroy
Answer: C) Sabyasachi Kar

Event and Location:

• Event: Professor Sabyasachi Kar appointed as the new Director of the Institute of Economic Growth (IEG), effective February 6, 2025
• Date: February 6, 2025
• Location: New Delhi, India

Key Details of Appointment:

• New Director: Professor Sabyasachi Kar
• Predecessor: Professor Chetan Ghate
• Previous Role: RBI Chair Professor at IEG
• Institution Background: IEG is a premier research institute specializing in economic and social research

Academic Background & Expertise:

• Education: Ph.D. in Economics from Jawaharlal Nehru University (JNU)
• Research Areas: Macroeconomics, economic growth, development economics, political economy
• Editorial Role: Co-editor of the Journal of South Asian Development
• International Collaboration: Honorary Senior Research Fellow at the University of Manchester

Key Contributions & Publications:

• Policy Contributions: Provided macroeconomic projections and policy inputs for NITI Aayog and the Planning Commission
• Books Authored:
  • Macroeconomic Reforms, Growth and Stability
  • Economic Challenges for the Contemporary World
  • The Political Economy of India’s Growth Episodes

Impact of His Appointment:

• Strengthening Economic Research: Enhancing IEG’s role in policy advisory and research
• Expanding Collaborations: Working with global institutions like the World Bank, European Commission, and DFID
• Training & Development: Supporting Indian Economic Service officers and economists through research programs

Tabular Summary:

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Awards – Daily Current Affairs February 24

16. Which Indian airport became the first to win the ‘Sarvashrestha Suraksha Puraskar (Golden Trophy)’ at the NSCI Safety Awards 2024?
A) Chhatrapati Shivaji Maharaj International Airport
B) Kempegowda International Airport
C) Manohar International Airport
D) Indira Gandhi International Airport
E) Rajiv Gandhi International Airport
Answer: C) Manohar International Airport

Event and Location:

• Event: Manohar International Airport (Mopa) won the ‘Sarvashrestha Suraksha Puraskar (Golden Trophy)’ at the NSCI Safety Awards 2024
• Date: January 2025
• Location: Mumbai, Maharashtra

Award & Recognition:

• Award Name: Sarvashrestha Suraksha Puraskar (Golden Trophy)
• Category: Service Sector
• Awarded By: National Safety Council of India (NSCI)
• Recognized Organization: Manohar International Airport (GOX)
• Operator: GMR Goa International Airport Ltd. (GGIAL)

Key Reasons for Recognition:

• Zero Incidents Record: No fatal, non-fatal, or total permanent disability cases reported
• Safety Performance: Strong workplace safety track record
• Proactive Safety Planning: Implementation of stringent safety protocols and risk management systems
• Employee Training & Awareness: Regular safety drills and compliance training
• Innovation in Safety: Adoption of modern safety practices and risk mitigation strategies

Significance of the Award:

• Aviation Safety Standards: Strengthens India’s airport safety measures
• Global Recognition: Enhances the airport’s reputation for operational excellence
• Encouragement for Other Airports: Promotes industry-wide adoption of best safety practices
• Alignment with GMR’s Vision: Supports the group’s commitment to world-class safety standards

Tabular Summary:

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17. Who was awarded the Honorary Knighthood (KBE) by the UK for strengthening India-UK business relations?
A) Mukesh Ambani
B) Ratan Tata
C) Sunil Bharti Mittal
D) Nandan Nilekani
E) Gautam Adani
Answer: C) Sunil Bharti Mittal

Event and Location:

• Event: Sunil Bharti Mittal received the Honorary Knighthood (KBE) from the UK for his contributions to India-UK business relations
• Date: February 24, 2025
• Location: New Delhi, India

Key Details of the Honor:

• Title Conferred: Knight Commander of the Most Excellent Order of the British Empire (KBE)
• Presented By: British High Commissioner at a special ceremony in New Delhi
• Honoring Monarch: King Charles III
• Significance: Mittal is the first Indian citizen to receive this honor under King Charles III’s reign

Contributions to India-UK Relations:

• Business Ventures:
  • Airtel Africa: Listed on the London Stock Exchange (FTSE 100 Index)
  • Eutelsat OneWeb: UK-based satellite communications company with key operations in London
• Trade & Investment Role:
  • India-UK CEO Forum: Strengthened trade partnerships between the two nations
  • High-Profile Business Delegation: Led an Indian business group to meet UK Prime Minister Keir Starmer

Academic & Advisory Honors:

• Honorary Doctorates:
  • Doctor of Civil Law: Newcastle University
  • Doctor of Laws: University of Leeds
• Advisory Roles:
  • University of Cambridge: Member of Vice-Chancellor’s Circle of Advisors
  • London Business School: Served on the Governing Body
  • London School of Economics (LSE): Member of the India Advisory Group

Past Indian Recipients of KBE:

• Jamshed Irani (1997): Former Tata Steel Director
• Ravi Shankar (2001): Legendary Sitar maestro
• Ratan Tata (2009): Former Tata Sons Chairman

Tabular Summary:

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Defence – Daily Current Affairs February 24

18. Where was the ‘Sagar Kavach’ coastal security drill conducted by the Indian Coast Guard on February 21-22, 2025?
A) Gujarat
B) Tamil Nadu
C) West Bengal
D) Maharashtra
E) Odisha
Answer: C) West Bengal

Event and Location:

• Event: The Indian Coast Guard conducted the ‘Sagar Kavach’ coastal security drill along West Bengal’s 158 km coastline to enhance maritime security
• Date: February 21-22, 2025
• Location: West Bengal coastline

Key Objectives of the ‘Sagar Kavach’ Exercise:

• Threat Preparedness: Simulated scenarios including hijacking, smuggling, and IED threats
• Inter-Agency Coordination: Strengthened collaboration between security forces and enforcement agencies
• Security SOP Enhancement: Improved response protocols for maritime security incidents

Threat Scenarios Tested:

• Hijacking Incidents: Simulated terrorist infiltration using fishing boats and barges
• Smuggling Operations: Response to illegal transportation of contraband along the coastline
• IED Threats: Detection and neutralization of explosive devices at critical infrastructure points
• Participating Agencies:
  • Indian Coast Guard (ICG) – Lead agency conducting maritime patrols
  • Indian Navy – Provided naval surveillance and response teams
  • Border Security Force (BSF) – Secured coastal entry points
  • Central Industrial Security Force (CISF) – Protected port facilities
  • West Bengal Police & Customs Department – Conducted coastal monitoring
  • Forest Department & Local Fishermen – Assisted in intelligence gathering

Strategic Importance of West Bengal’s Coastline:

• Maritime Community: Over 330,000 fishermen and 16,000 fishing boats operate in the region
• High-Value Infrastructure: Presence of major ports, river ports, and industrial zones
• Porous Borders: Riverine geography poses challenges in monitoring unauthorized movements

Tabular Summary:

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National Affairs – Daily Current Affairs February 24

19. Under which program has Bisleri International partnered with ASI to restore heritage water bodies?
A) Swachh Bharat Abhiyan
B) Jal Shakti Abhiyan
C) Adopt a Heritage 2.0 Programme
D) Namami Gange Programme
E) Smart Cities Mission
Answer: C) Adopt a Heritage 2.0 Programme

Event and Location:

• Event: Bisleri International signed an MoU with ASI under the ‘Adopt a Heritage 2.0 Programme’ to restore heritage water bodies
• Date: February 24, 2025
• Location: India

Partnership & Objectives:

• Collaboration: Bisleri International has partnered with the Archaeological Survey of India (ASI)
• Program: The initiative falls under the ‘Adopt a Heritage 2.0 Programme’
• CSR Initiative: This project is part of Bisleri’s Corporate Social Responsibility (CSR) program ‘Nayi Umeed’
• Objective: To restore and conserve historic water bodies at heritage sites while promoting sustainable water management

Key Heritage Water Bodies for Restoration:

• Chand Baori: Located in Abhaneri, Rajasthan
• Baori at Neemrana: A historic stepwell in Rajasthan
• Padma and Rani Talabs: Situated at Ranthambore Fort, Rajasthan
• Budha Budhi Pond: Located at Kalinjar Fort, Uttar Pradesh

Restoration & Conservation Plans:

• Desilting and Cleaning: Removal of accumulated debris and sediments
• Ecological Revival: Enhancing biodiversity and improving water quality
• Landscaping: Beautification of surrounding areas for an enhanced visitor experience
• Informative Signages: Educating tourists and local communities about historical and environmental significance
• Phased Implementation: Ensuring minimal disruption to heritage sites while maintaining their structural integrity

Impact & Significance:

• Cultural and Ecological Restoration: The project will revitalize both the historical and environmental aspects of the sites
• Tourism Enhancement: Improved aesthetics and accessibility will attract more visitors
• Community Engagement: Encourages awareness about water conservation and heritage preservation
• Support for National Initiatives: Aligns with India’s environmental and cultural preservation goals

Tabular Summary:

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20. Which two organizations have signed an MoU to collaborate on aerospace innovation?
A) ISRO & DRDO
B) HAL & DIAT
C) Bharat Electronics Ltd. & IIT Bombay
D) BHEL & NAL
E) Tata Advanced Systems & ADA
Answer: B) HAL & DIAT

Event and Location:

• Event: HAL signed an MoU with DIAT to enhance aerospace research and innovation
• Date: February 24, 2025
• Location: Pune, Maharashtra

Objective of the Partnership:

• Industry-Academia Collaboration: Strengthening ties between the aerospace industry and academic research
• Aerospace R&D: Advancing technological innovation in aviation and defence
• Skill Development: Enhancing training opportunities for aerospace professionals

Key Features of the MoU:

• Higher Education Opportunities: HAL executives can pursue master’s and Ph.D. programs at DIAT
• Specialized Training: HAL personnel to receive training in emerging aerospace technologies
• Faculty & Student Exchange: Knowledge-sharing programs between HAL and DIAT
• Joint Conferences & Seminars: Collaboration on aerospace-focused academic and industry events
• Research & Development: Joint projects to boost India’s defence and aviation capabilities

Impact of the Collaboration:

• Aerospace Innovation: Strengthens India’s position in cutting-edge aerospace research
• Workforce Development: Creates a skilled talent pool in defence and aviation sectors
• Self-Reliance in Defence: Supports India’s goal of indigenous defence manufacturing
• Global Competitiveness: Enhances India’s leadership in aerospace and defence technology

Tabular Summary:

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21. What is the total budget allocation for Uttarakhand in the financial year 2025-26?
A) ₹95,000 crore
B) ₹1,01,175.33 crore
C) ₹1,10,500 crore
D) ₹98,750 crore
E) ₹1,05,200 crore
Answer: B) ₹1,01,175.33 crore

Event and Location:

• Event: Uttarakhand government unveiled a ₹1,01,175.33 crore budget for FY 2025-26, focusing on infrastructure and welfare
• Date: February 24, 2025
• Location: Uttarakhand

Budget Overview:

• Total Budget: ₹1,01,175.33 crore
• Total Receipts: ₹1,01,034.75 crore
• Revenue Receipts: ₹62,540.54 crore
• Capital Receipts: ₹38,494.21 crore

Key Focus Areas:

• Infrastructure Development: Roads, bridges, aviation, and rural connectivity
• Industry & Startups: MSME growth, mega industrial projects, and startup ecosystem
• Water Resources & Irrigation: Dams, urban water supply, and Jal Jeevan Mission
• Tourism & Cultural Development: Development of Tehri Lake, Char Dham Road Network, and new tourist sites
• Environmental Sustainability: Afforestation, river rejuvenation, and climate change mitigation
• Social Welfare & Security: Subsidies, food security, housing, and free travel for low-income groups

Major Allocations in Key Sectors:

• Infrastructure Development:
  • New Roads: 220 km
  • Renovation: 1,550 km
  • Road Safety: ₹1,200 crore
  • PMGSY Scheme: ₹1,065 crore
• Industry & Startups:
  • MSME Development: ₹50 crore
  • Mega Project Scheme: ₹500 crore
  • Startup Promotion: ₹30 crore
• Water Resources & Irrigation:
  • Jamrani Dam: ₹625 crore
  • Jal Jeevan Mission: ₹1,843 crore
  • Lakhwad Project: ₹285 crore
• Tourism & Cultural Development:
  • Tehri Lake Development: ₹100 crore
  • New Tourist Destinations: ₹10 crore
• Environmental Sustainability:
  • CAMPA Scheme: ₹395 crore
  • Climate Change Mitigation: ₹60 crore
  • River Rejuvenation: ₹125 crore
• Social Security & Welfare:
  • Total Welfare Allocation: ₹1,811.66 crore
  • Food Security Scheme: ₹600 crore
  • Cooking Gas Subsidy: ₹55 crore
  • PM Awas Yojana (Rural): ₹207.18 crore

Tabular Summary:

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22. Where was the Global Investors Summit 2025 inaugurated by PM Narendra Modi?
A) New Delhi
B) Mumbai
C) Ahmedabad
D) Bhopal
E) Bengaluru
Answer: D) Bhopal

Event and Location:

• Event: PM Narendra Modi inaugurated the Global Investors Summit 2025, launching 18 new industrial policies to boost investments in Madhya Pradesh
• Date: February 24, 2025
• Location: Bhopal, Madhya Pradesh

Key Announcements by PM Modi:

• India as a Global Supply Chain Hub: Highlighted India’s emergence in aerospace and manufacturing
• Economic Growth Recognition: Cited positive outlooks from the World Bank, OECD, and UN
• Renewable Energy & Digital Transformation: Emphasized India’s advancements in solar power and technology

Key Attendees & Industrial Participation:

• Top Industrialists Present:
  • Kumar Mangalam Birla (Aditya Birla Group)
  • Gautam Adani (Adani Group)
  • Nadir Godrej (Godrej Industries)
  • Baba N Kalyani (Bharat Forge)
  • Piruz Khambatta (Rasna Private Limited)
• Global Delegation: Over 100 foreign delegates from 50+ countries participated
• Total Registrations: More than 25,000 investors and entrepreneurs

Investment Sectors in Focus:

• Agriculture & Food Processing
• Textiles & Clothing
• Mining
• Information Technology & Renewable Energy
• Urban Development & Tourism
• Semiconductors, Drones, and Film Production

Industrial Policies & Future Roadmap:

• 18 New Industrial Policies Launched covering MSMEs, startups, exports, and infrastructure
• Madhya Pradesh – Infinite Possibilities: Special video showcasing investment potential
• Union Home Minister Amit Shah to preside over the closing session on February 25, 2025
• CM Mohan Yadav to Hold One-on-One Meetings with industrialists for investment discussions

Endorsement by Gautam Adani:

• India has moved from following global trends to defining them
• Make in India, Digital India, and Atmanirbhar Bharat are driving economic growth

Tabular Summary:

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Over All Review

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