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NATIONAL AFFAIRS
Union Minister Ashwini Vaishnaw Announces Breakthrough of 2nd Mountain Tunnel of MAHSR Project 
On February 3, 2026, Union Minister Ashwini Vaishnaw, Ministry of Railways (MoR), Ministry of Electronics and Information Technology (MeitY), announced the completion of tunneling work of the 2nd Mountain Tunnel (MT-6) for the Mumbai (Maharashtra) -Ahmedabad (Gujarat) High Speed-Rail (MAHSR) project in Palghar, Maharashtra.
About MT-6 Excavation Completion:
Overview: MT-6 is 454 metre (m) long and 14.4 m wide, built to carry both up and down tracks for the high-speed rail line. MT-6 was excavated from both ends met in the middle, forming a continuous tunnel.
Significance: This marks the second tunnel breakthrough, following the MT-5 near Saphale, Maharashtra.
Construction Method: MT-6 was excavated using the New Austrian Tunnelling Method (NATM), a drill-and-controlled blast approach suited for complex geology.
Timeline: The Gujarat section of the MAHSR corridor is expected to commence commercial operations in 2027, with the train reaching Thane by 2028 and achieving full connectivity to Mumbai by 2029.
About Maharashtra:
Chief Minister (CM) – Devendra Fadnavis
Governor – Acharya Devvrat
Capital – Mumbai
Wildlife Sanctuary (WLS) – Malvan WLS, Aner Dam WLS
MoPSW: MoUs Signed to Establish Bharat Container Shipping Line and Finance Outer Harbour Project
In February 2026, the Ministry of Ports, Shipping and Waterways (MoPSW) announced that two significant Memoranda of Understanding (MoUs) were signed in New Delhi (Delhi), to establish the Bharat Container Shipping Line (BCSL) and to finance the Outer Harbour Project at V.O. Chidambaranar Port Authority (VoCPA), in Thoothukudi, Tamil Nadu (TN).
Establishment of Bharat Container Shipping Line (BCSL):
Objective: BCSL aims to create an integrated domestic container ecosystem to manage containerised cargo, which accounts for nearly two-thirds of India’s international trade value.
Signatories: The MoU was signed among Shipping Corporation of India (SCI), Container Corporation of India (CONCOR), Jawaharlal Nehru Port Authority, V.O. Chidambaranar Port Authority (VoCPA), Chennai Port Authority, and Sagarmala Finance Corporation Limited (SMFCL) under the aegis of MoPSW.
Outer Harbour Project at VoCPA:
Agreement: A tripartite MoU was signed between VOCPA, Indian Railway Finance Corporation Limited (IRFC), and SMFCL.
Funding Size: The MoU provides for joint funding of up to Rs 15,000 crore for port capacity expansion projects.
Programme Link: The projects are covered under the Sagarmala Programme, MoPSW and the Pradhan Mantri Gati Shakti National Master Plan (PMGS-NMP).
About Shipping Corporation of India (SCI):
Chairman & Managing Director (CMD) – Captain Binesh Kumar Tyagi
Headquarters – Mumbai, Maharashtra
Established – 1961
13th India–Kyrgyzstan Joint Military Exercise KHANJAR-XIII Commences in Assam
The 13th edition of the 14-day joint military exercise KHANJAR (KHANJAR-XIII) between India and Kyrgyzstan is being conducted from 4-17th February 2026, at Misamari, located in Sonitpur district of Assam, to enhance interoperability between the Special Forces of both nations.
About Exercise KHANJAR XIII:
Participants: The exercise involves the Parachute Regiment (Special Forces, SF) of the Indian Army (IA) and Kyrgyzstan’s Scorpion Brigade, both elite special forces units.
Training: Joint drills include urban warfare, counter-terrorism, sniping, reconnaissance, surveillance, room intervention, building clearance, and mountain craft under a United Nations (UN) mandate.
Background: Exercise KHANJAR, initiated in 2011, is an annual joint military exercise between India and Kyrgyzstan, aimed at sharing best practices in special operations.
- The 12th edition was held on 10-23 March 2025 at Tokmok, Kyrgyzstan.
NGEL and Assago Signs MoU to Develop India’s First Indigenous Green Urea Plant in AP
In February 2026, NTPC Green Energy Limited (NGEL), a subsidiary of NTPC Limited, and Assago Industries Private Limited (AIPL) signed a Memorandum of Understanding (MoU) to develop and operationalise India’s first large-scale Green Urea production facility at the upcoming Green Hydrogen Hub at Pudimadaka, near Visakhapatnam, Andhra Pradesh (AP).
Key Details of MoU:
Supply: Under the agreement, NGEL will supply green ammonia, captured carbon dioxide (CO₂), Renewable Energy(RE) power, and utilities to Assago Industries’ 1,000 tonnes per day (TPD) green urea manufacturing facility using clean feedstock.
Decarbonisation: The project replaces fossil-fuel-based urea production with renewable hydrogen and green ammonia, significantly reducing greenhouse gas emissions.
Imports: The initiative aims to reduce India’s urea imports of 8–10 million tonnes (MT) out of an annual consumption of 35–40 MT, lowering foreign exchange (Forex) outflow and price volatility risks.
Hub: The plant will be located within the Pudimadaka Green Hydrogen Hub, planned with a total capacity of 2.5 million tonnes per annum (MTPA) of green chemicals including green ammonia, green methanol ,Sustainable Aviation Fuel (SAF), and green urea.
BANKING & FINANCE
16th Finance Commission recommends 41% tax devolution to States
On February 1, 2026, the Union Finance Minister (FM) Nirmala Sitharaman tabled the 16th Finance Commission (FC) report in Parliament alongside the presentation of the Union Budget for 2026–27, with the government accepting its key recommendation to retain the states’ share in central taxes at 41% for the period 2026–31.
Key Recommendations
Share of States: The 16th FC has recommended that the Central Government (CG) retain the 41% share of tax devolution to the States that had been implemented since 2021.
Criteria for Devolution: To provide for the distribution of central taxes among states, FC define a formula with weightage for certain parameters.
Equitas SFB Partners with Bharti AXA Life Insurance to Expand Life Insurance Reach
On February 3, 2026, Equitas Small Finance Bank ( Equitas SFB) signed a strategic bancassurance partnership with Bharti AXA Life Insurance, backed by Bharti Enterprises and France’s AXA, to expand the reach of life insurance across India.
Key Details of Bancassurance Partnership:
Objective: The partnership seeks to boost life insurance penetration while assisting customers in securing their long-term financial future.
Role of Entities: As part of the partnership, Bharti AXA Life will offer its life insurance products such as protection, savings and retirement plans to customers of Equitas SFB.
- The partnership will utilize both physical and digital channels for wider customer access.
Focus Areas: The collaboration aims to deepen life insurance penetration in semi-urban and rural areas, where insurance adoption has been limited.
RBI Imposes Compounding Fee of Rs 18.76 Lakh on One 97 Communications for FEMA Violations
In February 2026, the Reserve Bank of India (RBI) issued a compounding fee of Rs. 18.76 lakh to One 97 Communications Limited (OCL), the parent company of Paytm Payments Services Limited (PPSL), under the provisions of the Foreign Exchange Management Act (FEMA), 1999, for contraventions related to foreign investment transactions in its subsidiary.
About the Compounding Order:
Transaction: Investments worth approximately Rs. 33 crore were made by Little Internet Singapore Private Limited into Little Internet Private Limited (LIPL) during March 2016 to June 2017.
Violation: The case involves contravention of Regulation 5(1) read with Regulation 13 of FEMA Notification 120/RB-2004.
Disclosure: One 97 Communications Limited (OCL) disclosed the compounding order under Regulation 30 of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements, LODR) Regulations, 2015.
Settlement: Compounding under FEMA is a voluntary process involving admission of contravention and payment of a fee, after which the matter stands disposed.
Others: RBI compounded the Nearby India Private Limited subsidiary of OCL issues for Rs 4.28 lakh in Quarter 3(Q3) of Financial Year 2025-2026(FY26).
ECONOMY & BUSINESS
Walmart Becomes World’s First Retail Company to Reach USD 1 Trillion Market Value
In January 2026, Walmart Inc., an American multinational retail corporation, became the first retail company globally to achieve a market capitalisation of USD 1 trillion, following a strong rally in its share price over the past year.
Key Highlights:
Stock Performance: Walmart’s shares rose by nearly 26% over the last 12 months and about 468% over the past decade, outperforming the S&P 500, which gained around 264% during the same period.
Nasdaq-100: In December 2025, Walmart was added to the tech-focused Nasdaq-100 Index, which features the world’s most valuable non-financial companies.
AI Adoption: Walmart invested billions of dollars in Artificial Intelligence(AI)-enabled supply chains to improve inventory planning, fresh produce delivery, and delivery speed, enabling the company to exceed same-store sales estimates for 15 consecutive quarters.
Peer Group: Other companies with market capitalisation exceeding USD 1 trillion include Nvidia, Alphabet, Apple, Microsoft, Amazon, Meta, Taiwan Semiconductor Manufacturing Company, Tesla, and Broadcom.
Goldman Sachs Upgrades India’s CY26 GDP Growth Forecast to 6.9%
In February 2026, Goldman Sachs upgraded India’s Calendar Year 2026 (CY26) real Gross Domestic Product (GDP) growth forecast by 20 basis points (bps) from 6.7% to 6.9%, following the conclusion of the United States of America (USA)–India trade deal that reduced reciprocal tariffs on Indian goods from 25% to 18%.
About the Forecast:
Basis: The estimate is based on goods export exposure of about 4%
of GDP to USA final demand and an export demand elasticity of around 0.7.
Investment: The deal is expected to reduce trade-policy uncertainty and improve private investment intentions, with capex recovery likely in the second half of CY26.
External: Lower tariffs are projected to narrow the Current Account Deficit (CAD) by about 0.25% of GDP to nearly 0.8% in CY26.
Currency: Easing trade tensions may support capital inflows and reduce pressure on the Indian Rupee (INR).
Trade: India’s bilateral goods trade surplus with the USA has doubled from about USD 20 billion in CY15 to nearly USD 40 billion in CY25.
Sectors: The surplus expansion has been driven mainly by electronics, pharmaceuticals, and textiles.
AWARDS & RECOGNITIONS
Bhutan Queen Mother Honoured with 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025:
In February 2026, Lakshman Prasad Acharya, Governor of Assam, attended the 22nd Edition of Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025 ceremony at the Bodoland University, Kokrajhar, Assam, where ‘Gyalyum Ashi Dorji Wangmo Wangchuck’, Queen Mother of Bhutan, was honoured for her exemplary humanitarian service and compassionate leadership.
Award Highlights:
Prize Details: The award comprised a citation, a memento of Bodofa Upendra Nath Brahma, traditional Bodo Aronai, Dokhna, Gwmgra, Endi Sadar, and a cash prize of Rs 2 lakh.
Recognition: The honour was conferred for lifelong humanitarian contributions and visionary leadership of the Tarayana Foundation in rural development, women’s empowerment, education, healthcare, and preservation of Bhutan’s cultural heritage.
Award Background: Instituted in 2004 by the Upendra Nath Brahma Trust, the ‘Soldier of Humanity’ Award upholds the ideals and philosophy of Bodofa Upendra Nath Brahma, centred on sacrifice, courage, and service to humanity.
Legacy Day: Governor Lakshman Prasad Acharya referred to the declaration of 31 March as Chatra Divas (Students’ Day) by the Government of Assam to commemorate the legacy and contributions of Bodofa Upendra Nath Brahma.
HMG Stones Secures ISO 9001:2015 and 5S Gold Grade Certifications
In February 2026, HMG Stone LLP (HMG Stones), a premium natural stone importer, exporter, manufacturer and supplier, achieved International Organization for Standardization (ISO) 9001:2015 certification for its Quality Management System (QMS) and 5S Gold Grade certification for workplace organisation and operational discipline.
- With this, HMG Stones became the first company in India’s natural stone industry to simultaneously secure both certifications.
Certifications Overview:
ISO 9001: HMG Stones has been awarded ISO 9001:2015 by TÜV India Private Limited, accredited by German based accreditation body DAkkS, certifying a robust QMS for consistent quality and customer satisfaction.
5S Gold: The company received the 5S Gold Grade (Basic Level Category) from Japan’s Asia Bunka Kaikan-Association for Overseas Technical Scholarship (ABK-AOTS) DOSOKAI (Alumni association) for excellence in workplace organisation and operational discipline.
Framework: The 5S system implemented the Japanese 5S framework Sort, Set in Order, Shine, Standardise, and Sustain supported by regular training on 5S awareness, internal audits, fire safety, first aid, emergency drills, Personal Protective Equipment usage, and waste management to strengthen accountability and workplace safety culture.
Coverage: The certifications cover manufacturing units at Attibele (Unit I) and Yadavanahalli (Unit II), the Wilson Garden flagship showroom (Unit III), and the Sankey Road Experience Centre.
APPOINTMENTS & RESIGNATIONS
RBI Approves Vinay Muralidhar Tonse as MD & CEO of YES Bank
On February 3, 2026, the Reserve Bank of India (RBI) approved the appointment of Vinay Muralidhar Tonse as the Managing Director (MD) and Chief Executive Officer (CEO) of YES Bank for a term of three years. His appointment is further subject to Shareholder approval.
- He will succeed Prashant Kumar, whose tenure is scheduled to end in April 2026.
About Vinay Muralidhar Tonse:
Profile: He is a banker with over three decades of experience in Indian and international banking. He has worked across multiple business lines and held senior leadership roles in banks such as State Bank of India (SBI).
Career: In 1988, he joined SBI as a Probationary Officer (PO) and spent over 30 years rising through banks.
Leadership Positions: He worked as Deputy MD at SBI and looked after the Corporate Accounts Group (CAG), managing relationships and credit facilities for large corporate clients.
- He served as MD & CEO of SBI Funds Management Limited (SBI Mutual Fund), the asset management arm of SBI.
- He also served as the Managing Director (MD) (Retail Business & Operations) until 30 November 2025.
About Yes Bank:
Founded in 2003 by Rana Kapoor and Ashok Kapur, YES Bank received its banking licence from the Reserve Bank of India (RBI) in May 2004 and is headquartered in Mumbai, Maharashtra.
SCIENCE & TECHNOLOGY
DRDO Successfully Demonstrates Solid Fuel Ducted Ramjet Technology in Odisha
In February 2026, the Defence Research & Development Organisation (DRDO) successfully conducted a flight demonstration of the Solid Fuel Ducted Ramjet (SFDR) technology at the Integrated Test Range (ITR) in Chandipur, off the coast of Odisha.
About SFDR Missile Test:
Execution: The system was boosted to the required Mach number, after which the SFDR propulsion and all key subsystems performed as expected throughout the flight.
Test Performance: All key subsystems, including the nozzle-less booster, solid fuel ducted ramjet (SFDR) motor, and fuel flow controller, functioned successfully during the test.
Validation: Flight performance was confirmed using radar, Electro-Optical Tracking System (EOTS) and telemetry deployed by the ITR along the Bay of Bengal coast, under monitoring by senior scientists from DRDO laboratories.
Significance: The successful test enhances India’s indigenous missile development programme, supports next-generation Beyond-Visual-Range (BVR) Air-to-Air Missiles(AAM) for the Indian Air Force (IAF), and places India among an elite group of nations with advanced ramjet-powered missile capability.
SPORTS
India to Host Asian Rifle/Pistol Championship 2027 in New Delhi
On February 3, 2026, India secured the hosting rights for the Asian Rifle/Pistol Championship 2027 following a successful bid by the National Rifle Association of India (NRAI).
- It marks the second consecutive time India will host the premier continental championship for rifle and pistol shooters.
About Asian Rifle/Pistol Championship 2027:
Overview: The championship is scheduled to take place from 1 to 10 December 2027 at the Dr. Karni Singh Shooting Ranges in New Delhi, Delhi.
Olympic Qualification: The 2027 edition of the championship will serve as a qualifying event for the 2028 Los Angeles Olympics(the United States of America, USA), with eight Olympic quota places available for shooters from across Asia.
- Eight Olympic quota places are continental slots that enable countries to earn spots for the Olympics.
Other Event: India is also scheduled to host the International Shooting Sport Federation(ISSF) World Cup (Rifle/Pistol/Shotgun) in New Delhi in April 2027, where 12 Olympic quota places for the Los Angeles 2028 Games will be available to shooters.
OBITUARY
Travel Writer and Padma Shri Awardee Hugh Gantzer Passed Away
On February 2, 2026, a prominent travel writer and Padma Shri Awardee Hugh Gantzer passed away at the age of 95 in Mussoorie, Uttarakhand. He was born on January 9, 1931, in Patna, Bihar.
- He was conferred with the Padma Shri, India’s fourth highest civilian award, in the field of Literature and Education in 2025.
About Hugh Gantzer:
Profile: He was widely known for his travel writing, bringing India’s diverse landscapes and cultures to readers through books, articles, and travel documentaries.
Career: Earlier, he served in the Indian Navy (IN) and retired as a Commander before turning to full-time travel writing with his wife Colleen Gantzer.
- He was associated with The Times of India(ToI) for several decades and authored the iconic weekly column “Sexes and the City”, which ran for over 40 years.
Contributions: He produced 52 documentaries for Doordarshan, authored over 30 books, and contributed travel columns to several leading English newspapers.
IMPORTANT DAYS
World Interfaith Harmony Week 2026 – February 1-7
The United Nations (UN’s) World Interfaith Harmony Week (WIHW) observes World Interfaith Harmony Week (WIHW) annually during the first week of February (1–7) to foster peace, tolerance, and non-violence among people of all faiths.
- WIHW 2026 is observed from 1-7 February 2026.
Background:
Background: WIHW is rooted in the ‘A Common Word’ initiative launched in 2007, which united Muslim and Christian leaders to highlight shared values such as love for God and love for one’s neighbor.
Proposal: WIHW was first proposed by H.M. King Abdullah II and HRH Prince Ghazi bin Muhammad of Jordan during the 65th United Nations General Assembly (UNGA) on September 23, 2010.
UN Recognition: On October 20, 2010, the UN officially designated the first week of February as WIHW through Resolution A/RES/65/5, aimed at promoting peace, nonviolence, and interfaith understanding worldwide.
First Observance: The inaugural WIHW was observed from February 1 to 7, 2011.
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Current Affairs Today (AffairsCloud Today)
| Current Affairs 5 February 2026 |
|---|
| Union Minister Ashwini Vaishnaw Announces Breakthrough of 2nd Mountain Tunnel of MAHSR Project |
| MoPSW: MoUs Signed to Establish Bharat Container Shipping Line and Finance Outer Harbour Project |
| 13th India–Kyrgyzstan Joint Military Exercise KHANJAR-XIII Commences in Assam |
| NGEL and Assago Signs MoU to Develop India’s First Indigenous Green Urea Plant in AP |
| 16th Finance Commission recommends 41% tax devolution to States |
| Equitas SFB Partners with Bharti AXA Life Insurance to Expand Life Insurance Reach |
| RBI Imposes Compounding Fee of Rs 18.76 Lakh on One 97 Communications for FEMA Violations |
| Walmart Becomes World’s First Retail Company to Reach USD 1 Trillion Market Value |
| Goldman Sachs Upgrades India’s CY26 GDP Growth Forecast to 6.9% |
| Bhutan Queen Mother Honoured with 22nd Upendra Nath Brahma ‘Soldier of Humanity’ Award 2025: |
| HMG Stones Secures ISO 9001:2015 and 5S Gold Grade Certifications |
| RBI Approves Vinay Muralidhar Tonse as MD & CEO of YES Bank |
| DRDO Successfully Demonstrates Solid Fuel Ducted Ramjet Technology in Odisha |
| India to Host Asian Rifle/Pistol Championship 2027 in New Delhi |
| Travel Writer and Padma Shri Awardee Hugh Gantzer Passed Away |
| World Interfaith Harmony Week 2026 – February 1-7 |
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