Daily Current Affairs for CAT, XAT & MBA GDPI – February 21, 2026
Indian Economy & Policy
RBI likely to go for a prolonged policy rate pause: ICICI Bank report
ICICI Bank Global Markets said the chances of a policy rate hike are low due to benign core inflation and expects a prolonged pause in rates through 2026-27, with the focus shifting to regular durable liquidity infusion to support monetary transmission.
Initial interpretation of SC order on Trump’s tariffs nullifies reciprocal 25% levy imposed on India: Government sources
Government sources said an initial reading of the US Supreme Court ruling striking down President Donald Trump’s global reciprocal tariffs effectively nullifies the 25% levy on India, with New Delhi awaiting an official White House response.
Indian Politics & Governance
AI summit statement delayed to ‘maximise’ signatories, says India
"There is huge consensus on the declaration. We are just trying to maximise the number," India's IT minister Ashwini Vaishnaw told reporters
Amid SIR exercise, Home Ministry notifies another panel to clear pending CAA applications in West Bengal
“This is an additional committee that will process and fast-track CAA applications in the State,” says a government source; many applications have come from Matuas
Geopolitics (India Focus)
U.S. Supreme Court rejects Trump tariffs LIVE | President signs new 10% global tariff order, to be 'effective almost immediately'
Mr. Trump accuses Supreme Court of being influenced by "foreign interests" after it ruled that his sweeping global tariffs are illegal; says no changes in India-U.S. trade agreement
‘They’ll be paying tariffs, and we will not be paying tariffs’: Trump says no changes to India-U.S. deal post court ruling
Donald Trump claimed, as he has done before on multiple occasions, that he stopped the “war” (in May 2025) between India and Pakistan “largely” by threatening each country with 200% tariffs
Indian Stock Market & IPOs
Gift Nifty jumps 400 points from lows after US Supreme Court strikes down Trump tariffs
A significant US Supreme Court ruling has dismantled former President Trump's broad tariffs, sparking a rally in global markets, including India's Gift Nifty. This decision, rejecting the use of emergency powers for trade policy, offers a potential reset for international trade tensions. For India, it arrives as markets grapple with volatility, potentially easing existing tariff pressures with the US.
Gold pares gains after U.S. Supreme Court strikes down Trump tariffs
Gold prices trimmed some gains on Friday as investors assessed the U.S. Supreme Court ruling striking down President Donald Trump's broad tariff plan, although the safe-haven metal remained supported by weaker-than-expected U.S. GDP data.
Marketing, Brands & Consumer Trends
Bank holiday today: Are banks open or closed on 3rd Saturday, February 21? Check RBI calendar here
Since it is the third Saturday of the month, banks will remain open on February 21.
PLI scheme draws ₹2.16 trillion investment, drives ₹20.41 trillion in sales across 14 sectors
The government said the flagship manufacturing incentive scheme has helped boost exports, jobs and domestic value addition as India positions itself as a manufacturing hub.
Sports (Business & Governance)
FIH Pro League: Indian hockey team eyes turnaround in Hobart leg
The Hobart leg of the series, which also features hosts Australia, will be held till February 25 at the Tasmania Hockey Centre
Blue Tigresses land early in Australia for AFC Asian Cup
India will kickstart its Group C campaign against Vietnam in Perth on March 4, followed by Japan at the same venue on March 7, and Chinese Taipei 10 in Sydney on March