DAILY CURRENT AFFAIRS 22-07-2025

Shankar School of Banking July 22 , 2025 133

NATIONAL NEWS

Department of Legal Affairs Launches Mahila Aarogyam Kaksh

In a pioneering effort to transform government offices into human-centric spaces, the Department of Legal Affairs under the Ministry of Law and Justice inaugurated the Mahila Aarogyam Kaksh at Shastri Bhawan, New Delhi.

Carved out from an old garage, this dedicated fitness and wellness facility supports the physical and mental health of women employees and exemplifies a shift toward inclusive, health-driven work environments.

Primary Objective is to promote physical fitness, mental well-being, and work–life balance among women staff.

It is equipped with a fully functional gym and a private lactation room for nursing mothers.

It supports the Fit India Movement and aligns with the Viksit Bharat vision of a fit, empowered, and inclusive workforce.

Prime Minister Inaugurates ₹7,200 Crore Infrastructure Projects in Bihar

Prime Minister Narendra Modi launched projects worth ₹7,200 crore in Motihari, Bihar, under the Viksit Bharat Mission, aiming to fast-track urban renewal, connectivity, and housing across the state.

These investments contribute to the vision of making India a developed nation by its centenary of independence by integrating Eastern states into the national growth story.

Funds allocated for improving public utilities and amenities in Motihari, Gaya, and Patna to enhance quality of life.

Over three lakh pucca houses completed in Motihari alone under central housing schemes, addressing urban shelter needs.

Increased Central Investment: Contrasts with the UPA era’s ₹2 lakh crore support over ten years, reflecting a significant uptick in funding under the NDA government.

It emphasis on reversing past neglect and ensuring inclusive development alongside strong support from CM Nitish Kumar.

Projects expected to generate local jobs, improve infrastructure resilience, and stimulate ancillary economic activities.

 

INTERNATIONAL NEWS

India and United Arab Emirates

India and the United Arab Emirates (UAE) are strengthening strategic ties, focusing on nuclear energy and advanced technology as the next key sectors for collaboration.

Bilateral trade surpassed $100 billion, achieving this milestone five years ahead of schedule; UAE is now India’s third-largest trade partner.

High-level diplomatic engagement intensified since September 2024, with visits by Sheikh Khalid and Crown Prince Sheikh Hamdan to India, emphasizing economic cooperation.

The Comprehensive Economic Partnership Agreement (CEPA) has accelerated bilateral trade and progress on the Virtual Trade Corridor, part of the India-Middle East-Europe Economic Corridor (IMEEC).

UAE has invested $23 billion in India, with $4.5 billion in 2024 alone; Bilateral Investment Treaty finalized last year.

Local currency trade settlement accounts for 10% of bilateral transactions, reducing dependence on the US dollar.

Financial technology collaboration includes the Jaywan card (built on India’s rupee card stack) and plans to connect banking messaging systems as an alternative to SWIFT.

Integration of India’s UPI with UAE’s Aani platform was expected by November 2025, enabling CBDC interoperability.

The partnership showcases how complementary strengths foster resilient supply chains and sustainable growth, with nuclear energy and advanced technology at the forefront.

56th International Film Festival of India Steering Committee Holds Its First Meeting

The first meeting of the Steering Committee for the 56th International Film Festival of India (IFFI), Goa, was held at the NFDC headquarters, Mumbai.

The meeting was chaired by Union Minister for Information & Broadcasting, Shri Ashwini Vaishnaw.

Attendees included Secretary, Ministry of I&B Shri Sanjay Jaju, Festival Director Shri Shekhar Kapur, MD, NFDC Shri Prakash Magdum, senior officials from Government of Goa, Ministry of I&B, NFDC, and members from the Indian and global film industries.

Focus was on strategic planning for IFFI 2025, including programming, outreach, talent engagement, and innovative initiatives to enhance the festival's inclusivity, global positioning, and public engagement.

The 56th IFFI is scheduled from 20th to 28th November 2025 in Goa.

The WAVES Film Bazaar, formerly known as Film Bazaar, is South Asia’s largest film market and part of India’s international film outreach.

The rebranding was discussed and approved by the Steering Committee.

The Steering Committee was expanded from 16 to 31 members to promote greater inclusivity and industry representation.

IFFI 2025 aligns with India’s Creative Economy vision, supporting media and entertainment startups, and encouraging global productions to shoot in India via single-window facilitation and incentive-based policies.

The 56th edition of IFFI is expected to be a landmark celebration showcasing cinema’s evolving role in a connected, creative, and collaborative world.

 

SCIENCE & TECHNOLOGY

IIA Astronomers Reveal New Insights on Coronal Mass Ejections

Astronomers from the Indian Institute of Astrophysics (IIA) uncovered new insights into Coronal Mass Ejections (CMEs) responsible for rare northern lights over Ladakh in May 2024.

This event marked the strongest solar storm in two decades.

The research was led by Wageesh Mishra and used data from NASA, ESA missions, and IIA’s Indian Astronomical Observatory.

The study focused on a rare chain of six interacting CMEs erupting from the Sun’s corona.

This first-of-its-kind analysis revealed that interacting CMEs undergo complex thermal restructuring, aiding in predicting their impact on Earth’s magnetosphere.

The team will expand this research using India’s Aditya-L1 mission, which is designed to study solar storms from Sun to Earth in greater detail.

DRDO and AIIMS Bibinagar

The first Make-in-India cost-effective advanced Carbon Fibre Foot Prosthesis was indigenously designed and developed by DRDO’s Defence Research and Development Laboratory (DRDL) and AIIMS Bibinagar.

The prosthesis, named ADIDOC (AIIMS Bibinagar – DRDL, DRDO Indigenously Developed Optimised Carbon Foot Prosthesis), was unveiled at AIIMS Bibinagar, Telangana on July 14, 2025.

The launch was conducted by Dr GA Srinivasa Murthy, Distinguished Scientist & Director of DRDL, and Dr Ahanthem Santa Singh, Executive Director of AIIMS Bibinagar.

ADIDOC is biomechanically tested to withstand loads up to 125 kgs with a sufficient factor of safety.

It comes in three variants to cater to patients of different weights.

The prosthesis aims to offer a high-quality, affordable solution accessible to a larger population, with performance comparable to international models.

Production cost is expected to be reduced to less than Rs 20,000, compared to imported models costing around Rs two lakh.

The innovation is expected to improve accessibility for low-income amputees in India, reduce dependency on imports, and promote social and economic inclusion of people with disabilities.

 

BANKING

IRDAI Forms Panels To Investigate Regulatory Breaches By Insurers And Intermediaries

Insurance regulator Insurance Regulatory and Development Authority of India (IRDAI) has formed panels of whole-time members to investigate violations of regulatory norms by insurers and intermediaries.

This decision was approved during IRDAI’s 132nd meeting amid increasing cases of mis-selling, particularly through bancassurance, and issues related to claim settlements.

The investigation panels are chaired by the Whole-Time Members of IRDAI.

These panels are part of IRDAI’s enforcement measures to examine breaches of the Insurance Act and related regulations.

IRDAI also approved the R1 application of Kiwi General Insurance Ltd, marking the first stage of its registration as a new insurance company.

 

DEFENCE

India’s First Indigenous Diving Support Vessel, INS Nistar Commissioned in Visakhapatnam

INS Nistar is the first indigenously designed and constructed Diving Support Vessel commissioned into the Indian Navy on July 18, 2025, at Visakhapatnam.

The commissioning ceremony was attended by Raksha Rajya Mantri Shri Sanjay Seth, senior naval officials, civilian dignitaries, and Hindustan Shipyard Limited representatives.

INS Nistar is the first of two Diving Support Vessels built by Hindustan Shipyard Limited.

It is designed for complex deep sea saturation diving and rescue operations, capabilities possessed by only select navies worldwide.

The vessel is equipped with state-of-the-art diving equipment including Remotely Operated Vehicles (ROVs), Self-Propelled Hyperbaric Life Boat, and Diving Compression Chambers.

It can conduct diving and salvage operations up to 300 meters depth.

INS Nistar serves as the ‘Mother Ship’ for deep submergence rescue vessels to evacuate personnel from distressed submarines underwater.

The ship is 118 meters long, with a displacement of over 10,000 tons.

INS Sandhayak Calls on Port Klang, Malaysia

INS Sandhayak, the Indian Navy’s first indigenously designed and constructed Survey Vessel Large (SVL), made its maiden port call at Port Klang, Malaysia from 16-19 July 2025.

The visit aims to enhance hydrographic cooperation and reflects India’s expanding role in regional hydrographic capacity building under the Indian Naval Hydrographic Department (INHD) and the National Hydrographic Office.

INS Sandhayak was commissioned in February 2024 and belongs to the Sandhayak-class hydrographic survey ships.

The ship is equipped for full-scale coastal and deep-water surveying, oceanographic data collection, and can conduct Search and Rescue (SAR) and humanitarian operations with onboard helicopter and hospital facilities.

The visit to Port Klang focused on technical exchanges, strengthening institutional ties, and sharing of survey technologies.

Activities included knowledge exchange sessions, official receptions, and events promoting international goodwill and the MAHASAGAR vision (Mutual and Holistic Advancement for Security and Growth Across Regions).

The visit reinforces India’s commitment to regional maritime cooperation and collaboration in the Indian Ocean region.

 

APPOINTMENTS & RESIGNATIONS

Former CBDT Chairman Nitin Gupta named NFRA Chairperson

The Cabinet’s appointments committee approved the appointment of Nitin Gupta, a 1986-batch retired Indian Revenue Service (IRS) officer, as Chairperson of the National Financial Reporting Authority (NFRA).

Gupta is a former Chairperson of the Central Board of Direct Taxes (CBDT) and will succeed Ravneet Kaur, the acting chairperson of NFRA.

His term is for three years or until he reaches the age of 65, whichever is earlier.

Gupta is a civil engineer by training and has served as Director General at the Competition Commission of India (CCI) for over three years.

Other appointments to NFRA include retired officers Smita Jhingran (IRS), P Daniels (Indian Defence Estates Service), and Sushil Kumar Jaiswal (Indian Audit and Accounts Service) as full-time members.

NFRA was constituted in October 2018 as an independent regulator for auditing and accounting standards.

Under Gupta’s leadership, NFRA is reviewing Gensol Engineering’s books over allegations of fund diversion and assessing the need for investigation into IndusInd Bank’s account discrepancies.

 

 

 

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