DAILY CURRENT AFFAIRS 23-08-2025

Shankar School of Banking August 23 , 2025 84

NATIONAL NEWS

India Post Launches IT 2.0 – Advanced Postal Technology

India Post launched IT 2.0 – Advanced Postal Technology (APT) under the Digital India Mission.

It was developed by the Centre for Excellence in Postal Technology (CEPT) as part of Atmanirbhar Bharat (Self-Reliant India).

It runs on MeghRaj 2.0 (Government Cloud Infrastructure) and supported by Bharat Sanchar Nigam Limited (BSNL) for connectivity.

It was launched under the leadership of Prime Minister Narendra Modi and Communications Minister Jyotiraditya M. Scindia.

It introduces DIGIPIN (Digital Postal Identification Number), a 10-digit alphanumeric PIN for accurate and traceable deliveries.

It includes QR code-based payments for cashless transactions and OTP (One-Time Password) based delivery verification for secure doorstep services.

It aims to enhance postal accuracy, speed, and security, especially for sensitive items like passports, Aadhaar updates, and legal documents.

It strengthens financial inclusion and transforms India Post into a digital logistics and communication backbone for both rural and urban areas.

UIDAI Onboards Starlink Satellite Communication Pvt Ltd for Aadhaar Authentication

Unique Identification Authority of India (UIDAI) has officially onboarded Starlink Satellite Communication Pvt Ltd to use Aadhaar Authentication for customer verification.

The initiative will make the onboarding process smooth, secure, quick, and paperless, ensuring compliance with Know Your Customer (KYC) norms.

Aadhaar e-KYC will help in the seamless onboarding of Starlink users while meeting regulatory requirements, enabling the delivery of high-speed satellite internet to households, businesses, and institutions.

Aadhaar authentication will be voluntary for users, in line with existing rules.

Starlink has been appointed as a Sub-Authentication User Agency (Sub-AUA) and Sub-eKYC User Agency by UIDAI.

Aadhaar, the backbone of India’s Digital Public Infrastructure, continues to be a catalyst for ease of living and ease of doing business.

The adoption of Aadhaar authentication by a global satellite internet provider like Starlink demonstrates the scalability, reliability, and global relevance of India’s digital identity ecosystem.

MHA Approves Renaming of Jalalabad to Parashurampuri

The Union Ministry of Home Affairs (MHA) has approved the renaming of Jalalabad town (Shahjahanpur district, Uttar Pradesh) to Parashurampuri.

The announcement was made by Union Minister Jitin Prasada, who belongs to the region.

The demand for the change was long-standing, supported by local residents, political and religious leaders, as the town is associated with the mythological birthplace of Lord Parashuram.

The renaming reflects the cultural and spiritual identity of the area and seeks to move away from names linked with historical slavery (“ghulami”).

MHA has informed the Chief Secretary of Uttar Pradesh regarding the approval, and a Gazette notification is expected soon. After notification, the new name Parashurampuri will be used in all official records and signage.

This move is part of the government’s broader cultural reclamation agenda, where names linked to colonial or foreign rule are being replaced with those resonating with Indian heritage, religion, and culture.

Maharashtra Chief Minister Devendra Fadnavis Launches ‘Garuda Drishti’

Maharashtra Chief Minister Devendra Fadnavis launched ‘Garuda Drishti’ Social Media Monitoring and Cyber Intelligence Project at Police Bhavan, Nagpur.

The CM also distributed ₹10 crore recovered from cyber financial crimes to fraud victims.

‘Garuda Drishti’ system will help in tracking anti-social elements misusing social media for hate speech, fake news, threats, drug trafficking, and communal hatred.

The CM stated that most cyber financial fraud platforms are operated by foreign entities.

Citizens have been advised to be cautious of suspicious mobile offers and to immediately report cyber fraud by calling Helpline 1930 and 1945.

The ‘Garuda Drishti’ tool will be further upgraded in future to expand its scope and strengthen cyber intelligence.

 

INTERNATIONAL NEWS

India and Eurasian Economic Union Ink Terms of Reference to Launch Free Trade Agreement Talks

India and the Eurasian Economic Union (EAEU), a bloc of five countries: Armenia, Belarus, Kazakhstan, Kyrgyz Republic, and Russia have signed Terms of Reference (ToR) to begin negotiations for a Free Trade Agreement (FTA).

The signing took place in Moscow between Ajay Bhadoo (Additional Secretary, Department of Commerce, India) and Mikhail Cherekaev (Deputy Director, Trade Policy Department, Eurasian Economic Commission).

The primary objective of the FTA is to boost exports, support Micro, Small and Medium Enterprises (MSMEs), and diversify market access for both sides.

The trade turnover between India and the EAEU reached $69 billion in 2024, marking a 7% increase over the previous year.

Both parties have expressed a commitment to the early conclusion of the FTA and the establishment of a long-term institutional framework for trade cooperation.

The ToR provides a clear negotiation framework that is expected to unlock untapped trade potential, lead to increased investments, and forge a stronger India-EAEU economic partnership.

 

SCIENCE & TECHNOLOGY

India Conducts Successful Test of Agni-5 Intermediate Range Ballistic Missile

India successfully tested its Agni-5 Intermediate Range Ballistic Missile (IRBM) on August 20, 2025, from the Integrated Test Range (ITR) in Chandipur, Odisha.

This test was conducted under the Strategic Forces Command and validated the missile's operational and technical parameters.

The test reaffirms India's growing strategic deterrence capability.

It is an Intermediate Range Ballistic Missile (IRBM) with a range of over 5,000 km, capable of reaching most of Asia and parts of Europe.

The missile is capable of carrying both conventional and nuclear warheads.

It is canisterized, which enables quick launch from road-mobile platforms.

The Agni-5 is the most advanced missile in India's Agni series and is a key component of its nuclear deterrence strategy, which operates under a No First Use (NFU)

On March 11, 2024, India successfully tested the MIRV (Multiple Independently Targetable Re-entry Vehicle) capability of the Agni-5, allowing a single missile to deliver multiple nuclear warheads to different targets.

 

BANKING

Indigo and IDFC FIRST Bank Launch Dual-Network Credit Card

IndiGo and IDFC FIRST Bank have launched the IndiGo IDFC FIRST Credit Card, a unique dual-network card that integrates both Mastercard and RuPay benefits through a single application.

This new card is designed to enhance IndiGo’s BluChip loyalty program by allowing customers to earn more rewards on their regular spending.

It offers wide acceptance for domestic, international, and UPI transactions and features a low forex markup of 1.49%.

An FD-backed option is also available, which ensures wider accessibility and promotes responsible credit practices.

Kotak Mahindra International Becomes First Indian Company To Secure UAE SCA License

Kotak Mahindra (International) received a license from the Securities and Commodities Authority (SCA), the capital markets regulator of the United Arab Emirates (UAE).

The license allows Investment Fund Management and Portfolio Management

Kotak Mahindra is the first Indian firm to secure such approval from SCA—a milestone in cross-border financial services.

This enables the launch of UAE-domiciled funds for retail investors.

Kotak already holds regulatory approvals in India, USA, UK, Singapore, Mauritius, and UAE.

This move strengthens the company’s international presence and supports a robust financial ecosystem.

Israel Greenlights Large West Bank Settlement Project, Risking Division Of Territory

Israel approved a major settlement project in the West Bank, specifically in the E1 area east of Jerusalem, despite international warnings about its impact on a future Palestinian state.

The project would effectively divide the West Bank, cutting off one of the last geographical links between Ramallah and Bethlehem, disrupting Palestinian territorial continuity.

The E1 settlement plan includes around 3,500 apartments, adjacent to Maale Adumim, and 350 homes in Ashael near Hebron.

Far-right Finance Minister Bezalel Smotrich, a former settler leader, cast approval as a rebuke to Western countries recognising a Palestinian state.

Israeli Prime Minister Benjamin Netanyahu opposes a Palestinian state and maintains control over the West Bank, east Jerusalem, and Gaza Strip.

Over 700,000 Israeli settlers currently live in the West Bank and east Jerusalem.

Settlement construction in E1 had been frozen for 20+ years due to US pressure, but approval now allows infrastructure work within months and home construction in ~1 year.

The Israeli government, dominated by religious and ultranationalist politicians, plans to double the settler population in the West Bank, with Smotrich overseeing settlement policies at Cabinet level.

Increased settlements have led to evictions, military operations, checkpoints, settler attacks on Palestinians, and Palestinian attacks on Israelis.

 

IMPORTANT DAYS

World Senior Citizens’ Day

World Senior Citizens’ Day is celebrated every year on 21 August.

Global Adoption: In 1990, the United Nations (UN) declared it as a worldwide observance.

Objective is to recognize the contributions of senior citizens, raise awareness of age-related challenges, and promote intergenerational solidarity.

Theme for the year 2025 is “Empowering Elderly Voices for an Inclusive Future.”

 

 

 

 

 

 

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