4.5/5
Current Affairs 17th February 2026
Indian Overseas Bank: Indian Public Sector Bank
-
Founded on 10th February 1937 by M. Ct. M. Chidambaram Chettiar
-
One of the 14 major banks that were nationalized in 1969.
-
Presently has Overseas Branches in Singapore, Hongkong, Thailand & Sri Lanka.
-
HQ: Chennai, Tamil Nadu
-
MD & CEO: Shri Ajay Kumar Srivastava (as of Feb 2026)
1. SBI Life Wins at 6th ICC Emerging Asia Insurance Conclave & Awards
-
Best Life Insurance Company (India): SBI Life was honored with the top award for the "Best Life Insurance Company – India" category, recognizing its consistent financial performance and market leadership.
-
Excellence in Risk Management: The company received the award for "Best Risk Management Strategy – India," underscoring its robust framework for mitigating operational and financial risks while protecting policyholder interests.
-
Focus on Innovation & Inclusion: The awards celebrated SBI Life’s commitment to its "Apne Liye. Apno Ke Liye" philosophy through the use of AI-driven automation and customer-centric digital solutions to bridge the insurance protection gap.
Footnotes: SBI Life's MD & CEO: Amit Jhigran, HQ: Mumbai, Estd: 2001
2. PM Narendra Modi inaugurated the India AI Impact Expo 2026
-
Launch of "Inya VoiceOS": PM Modi unveiled Inya VoiceOS, India’s first sovereign 5-billion-parameter voice-to-voice AI model. This foundational model is designed to provide high-quality AI services in multiple Indian languages, focusing on digital inclusion for citizens who prefer voice-based interactions.
-
National AI Showcase ("AI in Action"): The Expo spans over 70,000 square meters and features over 600 high-potential startups and 300 curated pavilions. It is structured around the "Three Chakras"—People, Planet, and Progress—showcasing real-world AI applications in healthcare, agriculture, and governance.
-
Focus on Global South Leadership: The Prime Minister emphasized India's vision of "Sarvajana Hitaya, Sarvajana Sukhaya" (Welfare for All, Happiness for All), positioning India as a leader in "Responsible AI" that serves the specific needs of developing nations and bridges the global AI divide.
3. Union Home Minister Amit Shah Launches CBDC Based PDS in Gujarat
-
Programmable Digital Food Currency: Beneficiaries now receive "Digital Food Coupons" in RBI-enabled digital wallets. These tokens are programmable, meaning they can only be redeemed for specific food items at Fair Price Shops (FPS), effectively preventing the diversion of subsidies for non-food purposes.
-
Elimination of Biometric Hassles: The system allows for seamless transactions using QR codes or SMS-based OTPs, removing the need for repeated biometric (fingerprint) authentication, which often fails in rural areas due to connectivity or physical labor-worn prints.
-
Inauguration of 'Annapurti' Grain ATMs: Alongside the digital currency, Shah inaugurated the 'Annapurti' Grain ATM, a Made-in-Gujarat machine capable of dispensing up to 25 kg of grain in just 35 seconds, ensuring accurate weight and 24/7 access for beneficiaries.
4. RBI’s Digital Payment Index for September 2025 increased
-
Significant Surge in Value: The RBI-DPI for September 2025 climbed to 516.76, showing a substantial increase from 493.22 in March 2025. This represents a more than fivefold growth in digital payment adoption since the index's inception in 2018.
-
Key Growth Drivers: The rise was primarily fueled by two parameters: Payment Performance (which has the highest weightage of 45%) and Payment Enablers (25%). This indicates a massive jump in actual transaction volumes and improved digital infrastructure like internet and mobile connectivity.
-
Expansion Factors: The growth is attributed to the widening merchant acceptance network, the robust popularity of UPI (which now accounts for nearly 50% of global real-time payments), and the increasing shift toward a "less-cash" economy in both urban and rural areas.
Footnotes: RBI's Governor: Sanjay Malhotra, HQ: Mumbai, Estd: 1935
5. Lucas Pinheiro Braathen Wins First-Ever Winter Olympics Medal
-
First Medal for Brazil & South America: By winning the Gold Medal in the Men’s Giant Slalom, Braathen became the first athlete in history to win a Winter Olympic medal for Brazil and the entire continent of South America.
-
Triumph Over the Defending Champion: Braathen finished with a combined time of 2:25.00, defeating the reigning champion and world number one, Marco Odermatt of Switzerland, by a significant margin of 0.58 seconds.
-
A Historic "Comeback" for Heritage: Formerly representing Norway, Braathen came out of a one-year retirement in 2024 specifically to represent his mother’s home country, Brazil. His victory, achieved during the Brazilian Carnival season, has turned him into a national icon.
6. GalaxEye Partners with ISRO’s NSIL
-
First Private Data Reseller Pact: GalaxEye has become the first private Indian satellite operator to enter into a formal reseller agreement with NSIL. Under this deal, NSIL will act as an extended sales arm, marketing GalaxEye’s high-resolution satellite data and downstream products to global and domestic customers.
-
SyncFused OptoSAR Technology: The agreement focuses on GalaxEye’s proprietary "SyncFused OptoSAR" technology. This world-first innovation combines Synthetic Aperture Radar (SAR) and Optical imaging on a single satellite, allowing for high-precision, all-weather, 24/7 Earth observation—essential for sectors like defense, agriculture, and disaster management.
-
Support for "Mission Drishti": The partnership provides a commercial launchpad for GalaxEye’s upcoming Mission Drishti, India’s largest privately built commercial satellite (160kg), scheduled for launch in late February 2026. NSIL will distribute data from this satellite and the planned 10-satellite constellation to be deployed by 2030.
Footnotes: NSIL's CMD: Radhakrishnan Durairaj, HQ: Karnataka, Estd: 2019
7. Pankaj Gupta appointed as CDO at USFB
-
Digital Transformation Leadership: As CDO, Pankaj Gupta will spearhead Unity Bank’s digital roadmap, focusing on scaling its microservices-based architecture and enhancing its "digital-first" banking ecosystem to compete with traditional banking giants.
-
Focus on AI andAutomation: His mandate includes the integration of AI/ML for process automation and advanced data analytics. This follows the bank's record for one of the fastest Core Banking System (CBS) implementations globally.
-
Background and Expertise: Gupta brings extensive experience in digital banking and marketing (previously serving in leadership roles at Karnataka Bank). His expertise will be critical in driving customer acquisition and engagement through digital products like the recently integrated JioFinance FD platform.
Footnotes: USFB's MD & CEO: Sanjeev Nautiyal, HQ: India, Estd: 2017
8. Legendary Odia Singer Geeta Patnaik passed away
-
Iconic Musical Legacy: Known as one of the most soulful voices in Odisha, she lent her vocals to timeless classics, most notably the hit song "Phur Kina Udigala Bani" from the film Jajabar. She was highly celebrated for her frequent and successful collaborations with the legendary composer and singer Akshaya Mohanty.
-
Distinguished Career: Over a career lasting more than 50 years, she recorded numerous popular tracks in films like Akhi Trutiya and Naga Phasa. Her contributions earned her high esteem within the All India Radio (AIR) circuit and the broader Ollywood (Odia film) fraternity.
-
Final Tributes: She passed away while undergoing treatment for a brain stroke at a private hospital. Her demise was mourned by top leaders, including Odisha Chief Minister Mohan Charan Majhi and Union Minister Dharmendra Pradhan, who described her passing as an "irreplaceable loss to Odisha's culture."
WHAT HAPPENED TODAY?
-
1931: Gandhi-Irwin First Meeting
-
2020: Supreme Court Verdict on Women in Armed Forces
-
1959: NASA launched Vanguard 2, the first satellite designed to map the Earth's cloud cover
1 like |
0 comment
