7 February 2026 Current Affairs

India–GCC Free Trade Agreement (FTA)

• Terms of Reference signed , formally launching negotiations.

• Covers energy, trade, investment, diaspora, logistics .

• High exam value :

  • West Asia diplomacy

  • Trade diversification

  • Strategic economic partnerships

Upendra Nath Brahma Award 2025

• Conferred on Queen Mother of Bhutan .

• Symbolises India–Bhutan civilisational & humanitarian ties .

🔶 Economy, Banking & Insurance

Insurance Laws (Amendment) Act, 2025

• Allows 100% FDI in insurance .

• Implications :

  • Capital inflow

  • Global best practices

  • Insurance penetration

RBI Gold Purchases (2025)

• Only 4 tonnes , down from 73 tonnes (2024) .

• Reason: High gold prices .

• Exam angle :

  • Forex reserves composition

  • Central bank strategy

SBI & Axis Bank Initiatives

• SBI :

  • $1 billion social loan from MUFG (Japan)

  • SBIMF launched InvesTap Nxt (digital investing)

• Axis Bank :

  • Rooftop Solar Finance for MSMEs

• GS relevance :

  • Green finance

  • Sustainable banking

  • Financial inclusion

Alwar (Rajasthan): 100% Insurance Coverage

• First district under “Insurance for All by 2047” .

• Prelims-friendly fact + welfare policy linkage.