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February 07, 2026 February 07, 2026 - Current affairs for all the Exams: RBI Monetary Policy and India-US Trade Breakthrough: Key Developments for February 7, 2026

The Reserve Bank of India (RBI) maintained the repo rate at 5.25% in its February 2026 policy review, while a landmark India-US trade deal saw the removal of 25% tariffs on Indian goods. Other major updates include India’s 6th Under-19 World Cup win and a significant tripartite agreement in Nagaland.

The last 24 hours have seen several pivotal developments in India’s economic, diplomatic, and social landscape, providing crucial material for competitive exam aspirants.

1. RBI Monetary Policy Committee (MPC) Highlights

The Reserve Bank of India’s Monetary Policy Committee, led by Governor Shaktikanta Das, concluded its first meeting of 2026 with a focus on stability and growth. Key takeaways include:

  • Repo Rate: Maintained at 5.25% for the seventh consecutive time.

  • Policy Stance: Remained 'Neutral' with a 5:1 majority to support economic recovery while monitoring inflation.

  • Inflation Projection: The CPI inflation for FY 2025-26 is projected at 2.1%, though Q4 is expected to see a slight uptick to 3.2% due to base effects.

  • GDP Growth: The RBI remains optimistic about India's growth trajectory, citing strong domestic demand and healthy agricultural prospects.

2. India-US Trade Relations: Removal of 25% Tariffs

In a major diplomatic victory for India, the United States officially removed additional 25% tariffs on various Indian goods, effective February 7, 2026. This follows a Joint Statement for a Trade Deal aimed at opening markets for over 1.4 billion people. The move is expected to significantly boost Indian exports in the industrial and agricultural sectors.

3. National Security and Governance

  • Frontier Nagaland Territorial Authority (FNTA): A historic tripartite agreement was signed between the Government of India, the Nagaland Government, and the Eastern Nagaland People’s Organisation (ENPO). The agreement establishes the FNTA to oversee the development of six eastern districts of Nagaland.

  • Paperless Judiciary: Kalpetta in Kerala has become the first district court in India to transition to a completely paperless, digital judicial system, inaugurated by the Chief Justice of India.

  • Meghalaya Mining Tragedy: At least 18 laborers were killed in an illegal rat-hole coal mine explosion in East Jaintia Hills, reigniting the debate over the enforcement of the 2014 NGT ban on such practices.

4. Sports and Awards

  • U19 World Cup: India clinched its record 6th ICC Under-19 Cricket World Cup title by defeating England by 100 runs in the final held in Harare, Zimbabwe.

  • Global Teacher Prize 2026: Indian educator and social activist Rouble Nagi won the prestigious Global Teacher Prize at the World Government Summit in Dubai for her contributions to the education sector.

5. Science and Technology

Tamil Nadu has become the first state in India to launch a dedicated Deep Tech Startup Policy (2025-26). The policy aims to support 100 startups in sectors like AI, semiconductors, and space tech with a corpus of ₹100 crore.

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