Current Affairs Quiz 7th and 8th February 2026 Quiz

Exp. India Joins BRICS Centre for Industrial Competencies to Boost Manufacturing and MSMEs

India has joined the BRICS Centre for Industrial Competencies (BCIC) at an event organised by DPIIT, Ministry of Commerce & Industry, held at Vanijya Bhavan in New Delhi.

The BCIC, launched in partnership with UNIDO, will function as a one-stop centre to provide integrated support to manufacturing companies and MSMEs across BRICS countries, with a focus on Industry 4.0 capabilities.

The National Productivity Council (NPC) has been designated as the India Centre for BRICS Industrial Competencies and will lead capacity building, productivity improvement, and adoption of advanced manufacturing practices under DPIIT’s policy guidance and UNIDO’s technical support.

Exp. MSDE Partners with IPE Global to Strengthen Women-Centric Skilling Ecosystem in India

The Ministry of Skill Development and Entrepreneurship (MSDE) has signed an MoU with IPE Global Limited to build a gender-responsive and future-ready skilling ecosystem for young women across India.

The collaboration aims to improve programme design, increase women’s participation in aspirational job roles, and strengthen linkages between skilling, employability, and inclusive economic growth.

The partnership will focus on evidence-based interventions, addressing structural barriers, aligning training with industry demand, and enhancing placement pathways through private sector engagement.

Exp. Royal Challengers Bengaluru Clinch Second Women’s Premier League Title

Royal Challengers Bengaluru won their second Women’s Premier League (WPL) title by defeating Delhi Capitals by six wickets in the final held at Vadodara.

Chasing a target of 204 runs, RCB scored 204/4 in 19.4 overs, led by captain Smriti Mandhana’s 87 runs off 41 balls and Georgia Voll’s 79 off 54 balls.

Earlier, Delhi Capitals posted a strong total of 203/4 in 20 overs after being asked to bat first.

Delhi’s innings was powered by Jemimah Rodrigues (57 off 37 balls), Laura Wolvaardt (44 off 25 balls), and an unbeaten 35 off 15 balls by Chinelle Henry.

• Player of the series – Sophie Devine (Gujarat Giants)
• Most runs – Smriti Mandhana (337, Royal Challengers Bengaluru)
• Most wickets – Sophie Devine (17, Gujarat Giants) & Nandani Sharma (17 Delhi Capitals)

Exp. RBI MPC Keeps Repo Rate Unchanged at 5.25%, Raises Growth Outlook

The RBI Monetary Policy Committee (MPC) kept the repo rate unchanged at 5.25%, with the decision announced by RBI Governor Sanjay Malhotra after the meeting held from February 4–6.

The MPC decided to continue with a ‘neutral’ policy stance, following a phase of rate cuts undertaken last year.

Since February 2025, the MPC has reduced the repo rate by a total of 100 basis points through three consecutive cuts, bringing it down from 6.5% to around 5.5%.

The quarterly growth projections are as follows:

• Q1 FY27: 6.9 per cent
• Q2 FY27: 7 per cent

The MPC revised its inflation forecast from 2 per cent to 2.1 per cent. The quarterly inflation forecasts are:

• Q4 FY26: 3.2 per cent
• Q1 FY27: 4 per cent
• Q2 FY27: 4.2 per cent

RBI Current Policy Rate are as under

• Policy Repo Rate – 5.25%
• Standing Deposit Facility (SDF) – 5.00%
• Marginal Standing Facility (MSF) – 5.50%
• Bank Rate – 5.50%
• Reverse Repo Rate – 3.35%
• Cash Reserve Ratio (CRR) – 3.00%
• Statutory Liquidity Ratio (SLR) – 18%

Exp. India and Gulf Cooperation Council Sign Terms of Reference for India–GCC Free Trade Agreement

India and the Gulf Cooperation Council (GCC) signed the Terms of Reference (ToR) for the proposed India–GCC Free Trade Agreement (FTA) at Vanijya Bhawan, New Delhi, to formally begin negotiations.

The ToR was signed between Shri Ajay Bhadoo (Department of Commerce) and Dr. Raja Al Marzouqi (GCC Secretariat) and will define the scope, structure, and modalities of the FTA negotiations.

The India–GCC FTA is expected to significantly enhance bilateral trade; in FY 2024–25, India–GCC trade stood at USD 178.56 billion, accounting for 15.42% of India’s global trade, with an average annual growth of 15.3% over the last five years.

GCC countries collectively represent a market of 61.5 million people with a GDP of USD 2.3 trillion, and are a major source of FDI for India, with cumulative investments exceeding USD 31.14 billion.

Exp. Delhi Ranked World’s Most Affordable City for International Students: Report

Delhi has been ranked the world’s most affordable city for international students, according to a joint report by Knight Frank, Deloitte India, and QS, titled “India’s 155 Million Student Mandate”.

The report highlights that Delhi secured the top global position, while Mumbai ranked 11th and Bengaluru 15th in the global affordability and attractiveness assessment.

The rankings are part of the QS Best Student Cities 2026, which evaluated 150 cities worldwide across six equally weighted parameters: affordability, employer activity, university rankings, city desirability, student voice, and student mix.  

Exp. Axis Bank launches Rooftop Solar Finance for MSMEs

Axis Bank has launched Rooftop Solar Finance, a customised financing solution aimed at helping MSMEs transition to solar energy and achieve greater energy self-reliance.

Under the scheme, MSMEs can avail collateral-free loans ranging from ₹10 lakh to ₹2 crore, with flexible repayment tenures of 4–7 years, easing pressure on working capital.

The initiative is designed to help MSMEs reduce operating and energy costs, gain better control over power expenses, and build long-term financial resilience.

The product is available nationwide through Axis Bank branches, with partnerships involving leading OEMs and a technology partner to ensure transparency in costs, savings estimates, and project timelines.

Exp. 6 February – International Day of Zero Tolerance for Female Genital Mutilation

International Day of Zero Tolerance for Female Genital Mutilation (FGM) is observed every year on 6 February to raise awareness about the harmful practice and promote its complete elimination.

The day is led by the United Nations, in collaboration with UNICEF, UNFPA, and other global organisations, to highlight FGM as a serious violation of human rights.

Exp. India Clinch Record Sixth U19 Cricket World Cup Title with 100-Run Win Over England

India won the U19 Cricket World Cup 2026, clinching the title for a record sixth time by defeating England by 100 runs in the final held at Harare, Zimbabwe.

Batting first, India posted a massive 411/9 in 50 overs, led by 14-year-old Vaibhav Suryavanshi’s stunning 175 off 80 balls, with captain Ayush Mhatre scoring 53 off 51 balls.

Exp. Equitas Small Finance Bank Partners with Bharti AXA Life for Bancassurance Services

Equitas Small Finance Bank has entered into a strategic bancassurance partnership with Bharti AXA Life Insurance, a subsidiary of Bharti Life Ventures Pvt. Ltd.

Under the partnership, Bharti AXA Life will offer protection, savings, and retirement insurance plans to Equitas SFB customers through its 1,042+ banking outlets across 18 states/UTs.

The collaboration aims to boost life insurance penetration and enhance long-term financial preparedness by leveraging Equitas SFB’s distribution network and Bharti AXA Life’s insurance expertise.

Exp. President Droupadi Murmu inaugurated grand tribal cultural festival ‘Bastar Pandum-2026’ in Jagdalpur

President Droupadi Murmu has inaugurated the Bastar Pandum Festival during her one-day visit to Jagdalpur, Chhattisgarh.

The Bastar Pandum Festival features divisional-level cultural competitions, with over 700 artists from 84 teams showcasing 12 tribal art forms, including folk dances, handicrafts, traditional cuisine, and indigenous musical instruments.

Focused on tribal heritage, folk arts, and indigenous lifestyles, the festival promotes cultural preservation and youth engagement, with over 54,000 participants registered this year, reflecting its growing popularity and deep cultural significance.

Exp. India successfully test-fires Agni-III intermediate-range ballistic missile

India successfully test-fired the Agni-III intermediate-range ballistic missile from the Integrated Test Range, Chandipur (Odisha).

The launch was conducted by the Strategic Forces Command, with the missile following its pre-designated trajectory and meeting all mission objectives, highlighting the operational readiness of India’s strategic forces.

Agni-III, an indigenously developed, two-stage solid-fuel missile with a range of 3,000–3,500 km, is capable of carrying a 1,500 kg payload, uses advanced inertial navigation with GPS support, and is designed primarily as a nuclear delivery system.

Exp. RBI Imposes ₹18.76 Lakh Compounding Fee on Paytm for FEMA Violations

The Reserve Bank of India (RBI) has imposed a compounding fee of ₹18.76 lakh on Paytm for FEMA violations related to investments in one of its subsidiaries.

Paytm stated that the compounding fee is a regulatory resolution mechanism under FEMA and does not have a material impact on its operations.

Compounding involves voluntarily admitting the contravention, seeking redressal, and once paid, the matter will be disposed of, resolving the issue linked to the violations.

About Reserve Bank of India (RBI)

• Founded – 1 April 1935
• RBI Nationalized – 1 January 1949
• Headquarters – Mumbai, Maharashtra
• RBI set up – Hilton Young Commission
• 1st Governor – Sir Osborne Smith (Australia)
• 1st Indian Governor – CD Deshmukh
• 26th Governor – Sanjay Malhotra (replace Shaktikanta Das)
• RBI Deputy Governor (4) – 1. Tavarna Rabi Sankar

2. Swaminathan Janakiraman
3. Poonam Gupta
4. Shirish Chandra Murmu

Exp. Govt sanctions over 3 crore 87 lakh houses to States & Union Territories under PMAY-G

The Government has sanctioned over 3.87 crore houses under Pradhan Mantri Awas Yojana-Gramin (PMAY-G) to States and Union Territories.

As of 2nd February, more than 2.95 crore houses have been completed, while 2.10 crore houses were sanctioned in the last five years, highlighting accelerated progress.

PMAY-G, implemented by the Ministry of Rural Development since 1st April 2016, aims to construct 4.95 crore rural houses by March 2029.

Exp. RBI Approves Blackstone’s ₹6,196 Crore Investment to Acquire 9.99% Stake in Federal Bank

RBI approves Blackstone’s investment in Federal Bank, allowing the private equity firm to acquire up to 9.99% stake through a preferential issue via private placement.

Blackstone will invest ₹6,196.51 crore via Asia II Topco XIII Pte Ltd, making it the largest shareholder in Federal Bank, which has no promoter and all publicly held shares.

The move reflects growing foreign investment interest in India’s banking sector, following large investments by Emirates NBD in RBL Bank, SMBC in Yes Bank, and Warburg Pincus & ADIA in IDFC First Bank, and aligns with potential reforms allowing up to 49% foreign ownership in public sector banks.