DAILY CURRENT AFFAIRS 05-07-2025

Shankar School of Banking July 5 , 2025 192

NATIONAL NEWS

Jal Shakti Minister C R Patil Launches C-FLOOD Inundation Forecast System

The Union Ministry of Jal Shakti has launched a web portal - C-FLOOD - to provide two day advance flood forecast upto the village level covering Mahanadi, Godavari, and Tapi river basins.

The C-FLOOD web portal was inaugurated by C.R.Patil, Union Minister of Jal Shakti at a function in New Delhi on 2 July 2025.

The C-FLOOD portal has been developed by the Centre for Development of Advanced Computing (C-DAC), Pune jointly with the Central Water Commission.

The Central Water Commission comes under the Department of Water Resources, River Development and Ganga Rejuvenation,Union Ministry of Jal Shakti.

The web portal has been developed under the National Supercomputing Mission of the Government of India.

C-FLOOD is a Unified Inundation Forecasting System that has the capability to forecast two days in advance about flooding at the village level.

Presently, it can forecast flooding in the Mahanadi, Godavari, and Tapi river basins, and in future it will be gradually extended to all major river basins in the country.

The platform uses advanced 2-D hydrodynamic modelling to simulate flood scenarios.

The flood simulation for the Mahanadi basin is done by the High Performance Computing (HPC) of the C-DAC in Pune.

Indore Unveils India’s First QR-Coded Digital House Address System

Under the Smart Cities Mission, the Indore Municipal Corporation in Madhya Pradesh has rolled out a city-wide Digital House Address Project, replacing traditional addresses with QR-coded metal plates linked to GPS coordinates and integrated into the national Digipin system, to revolutionize urban service delivery and governance.

India’s first official deployment of QR-based address plates, piloted successfully in Ward 82, Sudama Nagar.

Each home receives a unique QR code tied to exact geographic coordinates, ensuring 100% address accuracy.

Addresses are synchronized with the Digital Postal Index Number (Digipin), standardizing the city’s location database.

Residents scan the QR code via a mobile app to pay taxes, lodge grievances, and access utility services in real time.

GPS-enabled plates enable ambiguous-free dispatch of ambulance, police, and fire services, drastically reducing response times.

It facilitates real-time property mapping, grievance redressal, and urban planning decisions based on accurate location data.

 

SCIENCE & TECHNOLOGY

Japan Launches Climate Satellite on Final Flight of H-2A Rocket Before Retirement

Japan successfully launched a climate change monitoring satellite aboard its H-2A rocket, marking the final flight of the rocket before retirement.

The H-2A rocket launched from Tanegashima Space Center in southwestern Japan, carrying the GOSAT-GW (Global Observing Satellite for Greenhouse gases and Water cycle).

The satellite was released into planned orbit approximately 16 minutes after liftoff.

The launch had faced several days of delay due to electrical system malfunctions in the rocket.

This was the 50th and final flight of the H-2A rocket, which had a near-perfect launch record since its 2001 debut.

H-2A will now be fully replaced by the H3 rocket, which is already operational and designed to be more cost-competitive in the global space market.

GOSAT-GW is the third satellite in Japan’s GOSAT series, tasked with monitoring greenhouse gases such as carbon dioxide and methane, and observing the water cycle.

Within one year, GOSAT-GW will begin distributing high-resolution climate data, including sea surface temperature and precipitation, to global users, including the United States.

                                          

BANKING                                          

Mashreq Bank Becomes First UAE Bank to Get In-Principle Approval for IBU

Mashreq Bank became the first UAE-based bank to receive in-principle approval (IPA) to open an International Financial Services Centre Banking Unit (IBU) at the Gujarat International Finance Tec-City (GIFT City) in Gujarat.

The new branch is expected to be operational by Q4 2025, subject to all regulatory clearances.

Mashreq has secured approvals from the UAE Central Bank and the Special Economic Zone (SEZ) authority; it is now in the final stages of obtaining the full license from the International Financial Services Centres Authority (IFSCA).

The branch premises have been identified, and recruitment for key roles is underway.

The GIFT City IBU will offer services such as Foreign Currency Loans,Trade Finance Solutions,Treasury and Risk Management Products.

This new IBU will enhance Mashreq’s ability to serve clients across different time zones and regulatory frameworks seamlessly.

 

ECONOMY

SBI Contributes 1.1% to Global GDP Growth as Part of India’s 6.7% Share: SBI Report

According to SBI Research, India contributed around 6.7% to the global economy's incremental growth in FY25.

The State Bank of India (SBI) alone contributed 1.1% to the global incremental GDP, amounting to $44 billion out of the total $297 billion added by India.

The report emphasizes that SBI’s contribution accounts for 16% of India’s GDP growth in FY25, showcasing its significant economic impact.

SBI accounted for 8.7% of the Gross Value Added (GVA) in India’s financial services sector in FY25.

SBI’s GVA increased to ₹1,38,533 crore in FY25, up from ₹1,32,157 crore in FY24, marking a 5% year-on-year growth.

The report underlines India’s rising influence in the global economy, and SBI’s pivotal role in both national and international economic growth.

 

AWARDS & PRIZES

Ghana’s Highest Civilian Honour for Global Leadership

Prime Minister Narendra Modi received the highest civilian award of Ghana, Officer of the Order of the Star of Ghana, on 2 July 2025.

The Prime Minister is on an 8-day tour of Ghana, Trinidad and Tobago, Argentina, Brazil, and Namibia from July 2 to 9, 2025.

Recently, during his visit to Cyprus, PM Modi was honoured with Cyprus's highest civilian award, the Grand Cross of the Order of Makarios III.

Prime Minister Modi is the second Indian Prime Minister to visit Ghana in 30 years. During his visit to Ghana on 2 and 3 July 2025, four memorandum of understandings (MoUs) were signed between the two countries to strengthen the friendly relations.

PM Modi received the ‘'Officer of the Order of the Star of Ghana’ honour from President John Mahama at the Jubilee House in Accra in recognition of his distinguished statesmanship and influential global leadership.

He also held delegation-level talks with President John Mahama, where both leaders discussed bilateral and other issues.

Four memorandum of Understanding (MoU)s were signed and exchanged between India and Ghana in front of the two leaders. These MoUs are;

Cultural Exchange Programme

Between the Ghana Standards Authority and the Bureau of Indian Standards to enhance cooperation in standardisation, certification, and conformity assessment.

Between the Institute of Traditional & Alternative Medicine, Ghana, and the Institute of Teaching and Research in Ayurveda, India, to promote collaboration in traditional medicine,

Setting up a Joint Commission Meeting to institutionalise high-level dialogue between the two countries.

 

MISCELLANEOUS

Six-Year-Old Teghbir Becomes Youngest to Climb Europe’s Mt. Elbrus

Six-year-old Teghbir Singh from Ropar, Punjab, has become the youngest person in the world to climb Europe’s tallest mountain peak, Mount Elbrus, located in Russia.

He broke the record set by Wagah Kushagra, a native of Maharashtra, who set the world record at the age of 7 years and 3 months in 2024.

At the age of 6 years, 9 months, and 4 days, Teghbir Singh created a new world record by becoming the youngest person to climb the summit of Mount Elbrus.

Teghbir Singh's achievement was acknowledged by the Mountaineering, Rock Climbing, and Sports Tourism Federation of Kabardino-Balkarian Republic in Russia, which issued a certificate mentioning his age.

Tegbhir Singh, a class II student, began his trek to Mount Elbrus on 20th June 2025 and climbed his way to reach the mountain's highest point on 28th June 2025, accompanied by his father, Sukhinderdeep Singh.

It was the first time Teghbir Singh walked on snow, as the climate near the summit of the mountain is cold.

In August 2024, Teghbir became the youngest Asian to summit Mount Kilimanjaro, the continent's highest peak on the African continent. For this, his name was included in the Asia Book of Records and the India Book of Records.

 

 

 

                          

 

 

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