• Reserve Bank of India has allowed banks and non-banks to issue PPIs for public transit services.
• PPIs will contain “Automated Fare Collection” application related to toll collection, parking etc.

• About PPIs
  • Payment instruments that facilitate purchase of goods and services against the value stored on such instruments. 
  • Issued as smart cards, internet wallets etc.
  • While these instruments can be reloaded, withdrawing cash, refund, or fund transfer will not be permitted in PPIs.
  • Cash loading to PPIs shall be limited to Rs.50,000 per month subject to overall limit of PPI.

• Prime Minister has inaugurated Sudarshan Setu in Gulf of Kutch.

• About Sudarshan Setu (Signature Bridge)
  • India’s longest cable-stayed bridge with solar panels installed on upper portions of the footpath, generating one megawatt of electricity.
  • Four-lane bridge connects Okha mainland and Beyt Dwarka island in Gujarat.
  • It will ease transportation and reduce time of devotees travelling between Dwarka and Beyt-Dwarka.
  • It features a footpath adorned with verses from Bhagavad Gita and images of Lord Krishna on both sides.

• G-33 calls for progress on agricultural trade ahead of 13th WTO Ministerial Conference (MC-13).

• About G-33
  • Comprises 47 countries and also called “Friends of Special Products” in agriculture. 
  • Coalition of developing nations advocating for flexibility to undertake limited market opening in agriculture, with India, China, and Indonesia among its members.
  • Key demands: Recognize Special Safeguard Mechanism (SSM), importance of public stockholding for food security purposes, etc.

• India has opposed China-led IFDA proposal at the WTO.

• About IFDA
  • First mooted in 2017, it aims to improve investment climate and promote international cooperation to facilitate flow of FDI between WTO members.
  • Potential Benefits: Clear and consistent global benchmark for investment facilitation, anchoring domestic investment facilitation reforms, global forum to promote best investment facilitation practices, etc.

• Reasons for India’s opposition: Investment, as a subject, falls outside the mandate of WTO, India is fundamentally against plurilateral pacts on multilateral platforms such as WTO, etc.

• Armenia has withdrawn its participation from Russia-led security bloc CSTO.

• About CSTO (HQ: Moscow)
  • Originates from treaty signed in 1992 in Tashkent, Uzbekistan.
  • Subsequently, Azerbaijan, Georgia and Belarus joined it. Treaty came into force in 1994. 
  • Six Current Members: Armenia, Kazakhstan, Kyrgyzstan, Russia, Tajikistan, Belarus.
  • In 2023, Belarus presided in CSTO. 
  • It is an intergovernmental military alliance between Russia and other former Soviet republics.
  • Objectives of CSTO include provision of national and collective security, intensive politico-military cooperation, foreign policy coordination on international and regional security issues, establishment of multilateral cooperation mechanisms etc.

• 5th edition of Joint Military Exercise ‘DHARMA GUARDIAN’ between the Indian Army and Japan Ground Self Defence Force commenced in Rajasthan.
• It is an annual exercise and conducted alternatively in India and Japan.

• Full moon on February 24 is called as Hunger moon or Snow Moon or Storm Moon.

• About Hunger Moon
  • February's full moon will miss Earth's shadow, because moon's orbit is tilted by five degrees to the plane of the Earth's orbit, and therefore Earth won't be directly between the sun and the moon.
  • Called as Hunger Moon by Native Americans due to challenges faced in hunting due to adverse weather during this period.
  • Called as Snow Moon due to heavy Snowfall in North America in February.

• New research has developed a modern analogue for pollen and non-pollen Palynomophs of Kaziranga National Park that can help in interpretation of past vegetation and climate.
• Palynomorphs are microscopic structures abundant in most sediments and sedimentary rocks, and are resistant to routine pollen-extraction procedures including strong acids, bases, acetolysis, etc.
• NPPs are microfossils other than pollen and spores from vascular plants (such as cyanobacteria, fungi, invertebrates, testate amoebae, etc.) observed in samples prepared for pollen analyses.

Ukraine (Capital: Kyiv)

• Russia claims capture of Avdiivka city after Ukraine withdraws from key city.

• Political Boundaries
  • Situated in eastern part of European continent.
  • Bordered by Belarus (north), Russia (east), Moldova and Romania (southwest) and Hungary, Slovakia, and Poland (west).
  • In far southeast, Ukraine is separated from Russia by Kerch Strait, which connects Sea of Azov to Black Sea.
  • Water bodies: Sea of Azov and Black Sea (south).

• Geographical features
  • Major rivers: Dnieper, Dniester, Danube, etc.
  • Highest Point: Mount Hoverla.
  • Climate Type: Mostly Temperate.