DAILY CURRENT AFFAIRS 23-10-2025

Shankar School of Banking October 23 , 2025 71

NATIONAL NEWS

India Elected as Co-Chair of UN-GGIM-AP

India has been elected as the Co-Chair of the United Nations Global Geospatial Information Management for Asia and the Pacific (UN-GGIM-AP) for a three-year term extending up to 2028.

This election strengthens India’s position in global geospatial policy, reflecting its technological capabilities and data governance leadership.

UN-GGIM-AP is a regional committee under the United Nations Committee of Experts on Global Geospatial Information Management (UN-GGIM), comprising 56 countries and economies from the Asia-Pacific region.

Established in 1995 and rebranded in 2012, the committee promotes geospatial information use in policymaking, identifies regional challenges, and supports economic, social, and environmental benefits through geospatial integration.

Its objectives include promoting decision-making through geospatial data, strengthening collaboration, and enhancing capacity-building among member nations.

India’s Co-Chair position allows it to influence regional geospatial standards, lead data-sharing protocols, and collaborate on regional challenges such as climate change, disaster management, and environmental monitoring.

This development aligns with India’s domestic efforts to expand its geospatial ecosystem, following the 2021 liberalization of India’s geospatial data policy that opened mapping and satellite data to private entities.

It also supports national initiatives such as Digital India, Smart Cities Mission, and the PM Gati Shakti National Master Plan, reinforcing India’s vision to become a global hub for geospatial data and services.

NITI Aayog’s Women Entrepreneurship Platform and DP World Launch ‘We Rise’ Initiative

NITI Aayog’s Women Entrepreneurship Platform (WEP), in partnership with DP World, has launched the ‘We Rise – Women Entrepreneurs Reimagining Inclusive and Sustainable Enterprises’ initiative under WEP’s Award to Reward (ATR) framework.

The initiative aims to support 100 high-potential women-led Micro, Small and Medium Enterprises (MSMEs) in becoming export-ready and integrating into global trade networks.

It aligns with the national vision of “Viksit Bharat @2047” and seeks to position women as key drivers of inclusive and sustainable economic growth.

‘We Rise’ is a public–private collaboration that brings together WEP’s ecosystem of over 90,000 women entrepreneurs with DP World’s global trade infrastructure to promote capacity-building, mentorship, and international market access.

The initiative focuses on making women-led MSMEs export-ready through tailored mentorship, training in compliance, branding, finance, and logistics, while also providing global exposure via Bharat Mart in Dubai.

100 selected women entrepreneurs will showcase their products at Bharat Mart, located in Dubai’s Jebel Ali Free Zone, enhancing visibility for Indian women-led brands in international markets.

The programme leverages DP World’s global logistics expertise to offer mentorship on trade compliance, cross-border logistics, and digital brand positioning.

Through the ATR framework, ‘We Rise’ will create scalable partnerships to tackle MSME challenges such as access to finance, legal support, regulatory navigation, and market linkages.

The initiative emphasizes sustainability, inclusivity, and long-term growth strategies, empowering women entrepreneurs to contribute meaningfully to India’s global trade ecosystem.

 

INTERNATIONAL NEWS

Uruguay Becomes First Latin American Nation to Legalise Euthanasia Through Legislation

Uruguay became the first Latin American country to legalise euthanasia through legislation, decriminalising medically assisted dying for patients with incurable illnesses causing unbearable suffering.

Uruguay is the first predominantly Catholic nation in Latin America to formally legalise euthanasia, following five years of political debate, public engagement, and ethical discussions.

The Uruguayan Senate approved the bill with a 20–11 vote, after earlier endorsement by the lower house, reflecting strong legislative and societal support for personal autonomy in end-of-life decisions.

The government will frame implementation rules, including medical protocols, ethical safeguards, and oversight mechanisms to ensure proper execution.

Eligibility is limited to patients with incurable diseases causing unbearable physical or psychological pain, and mental competency must be certified by two independent doctors.

The law does not require a terminal prognosis, excludes minors, and mandates that euthanasia be performed only by qualified healthcare professionals.

India and Brazil Sign Joint Declaration to Strengthen MERCOSUR–India Trade Pact

India and Brazil have agreed to expand the scope of the existing Preferential Trade Agreement (PTA) between New Delhi and MERCOSUR to promote trade and investment between the parties.

MERCOSUR (Common Market of the South) is a trading bloc comprising Argentina, Brazil, Paraguay, and Uruguay.

The current PTA has limited coverage with only 450 tariff lines (products), and both sides aim to expand it into a full-fledged trade agreement.

The two countries have set a new bilateral trade target of $20 billion by 2030, compared to $12 billion in 2024.

Brazil has expressed readiness to launch a digital partnership with India focusing on Artificial Intelligence (AI), high-performance computing, and technology start-ups.

MERCOSUR (Mercado Común del Sur) is a regional integration process established in 1991 by the Treaty of Asuncion and later updated in 1994 by the Treaty of Ouro Preto.

 

SCIENCE & TECHNOLOGY

Air India Partners with Taiwan’s STARLUX Airlines

Air India signed an interline partnership with Taiwan-based STARLUX Airlines to enable seamless travel on combined itineraries.

The agreement allows Air India passengers to access Taipei through Southeast Asian gateways such as Hong Kong, Bangkok, Singapore, Ho Chi Minh City, and Kuala Lumpur.

STARLUX passengers can now connect to Delhi, Mumbai, Chennai, and Bengaluru via these shared gateways.

The partnership enhances premium travel options and strengthens full-service connectivity for passengers of both airlines.

Air India recently launched India’s first non-stop flight to the Philippines, connecting Delhi and Manila.

 

BANKING

ICICI Bank and Visa Launch Asia’s First Visa Infinite Corporate Forex Card

ICICI Bank in collaboration with Visa launched the Corporate Sapphiro Forex Card, Asia’s first Visa Infinite-powered prepaid forex card designed for entrepreneurs and business travellers.

The card supports 15 currencies with zero cross-currency markup, enabling travel across multiple countries using even a single loaded currency.

It offers premium benefits worth over ₹15,000, including 2 free international lounge visits, meet-and-assist airport services, free international eSIM, 3 monthly ATM fee waivers, and preferential hotel and airline rates.

RBI Launches Offline Digital Rupee (e₹) at Global Fintech Fest 2025

The Reserve Bank of India (RBI) launched the offline digital rupee (e₹) at the Global Fintech Fest 2025, marking a major milestone in India’s digital finance evolution.

The e₹ is India’s official Central Bank Digital Currency (CBDC), functioning like physical cash in digital form, and stored in bank wallets offered by SBI, ICICI, HDFC, and Union Bank.

These wallets are available on Google Play and Apple App Store, enabling instant P2P (person-to-person) and P2M (person-to-merchant)

The e₹ supports offline payments using minimal network connectivity or NFC tap technology, ensuring accessibility in rural and remote regions.

The programmable e₹ is being tested in government schemes like Gujarat’s G-SAFAL and Andhra Pradesh’s DEEPAM 2.0, promoting efficient subsidy delivery, financial inclusion, and transparency.

India’s first retail e-rupee pilot began on December 1, 2022, with over 7 million users participating so far.

SBI General Insurance Launches ‘Health Alpha’

SBI General Insurance launched ‘Health Alpha’, a customizable retail health insurance plan that allows policyholders to tailor coverage with over 50 optional benefits, based on the theme “Your Health. Your Cover. Your Way.”

The plan offers sum insured options from ₹5 lakh to unlimited coverage, with policy terms up to 5 years and no upper age limit for adults.

Key features include up to 10x cumulative bonus, Unlimited & Endless Sum Insured options, critical illness cover, global cover, and an industry-first Gym & Sports Injury OPD Cover.

SBI General Insurance aims to make Health Alpha a benchmark in customized health insurance, strengthening its retail health segment through strong distribution, recognition, and brand trust.

 

APPOINTMENTS & RESIGNATIONS

First Female Prime Minister of Japan

Takaichi Sanae has been elected as Japan’s first female Prime Minister, marking a historic milestone in the country’s political history.

Leader of the Liberal Democratic Party (LDP), she will form a coalition government with the Japan Innovation Party (JIP) after the LDP’s split from Komeito.

Takaichi Sanae secured 237 votes in the 465-seat Lower House and 125 votes in the Upper House (just one vote above the majority), becoming Japan’s 104th Prime Minister, succeeding Shigeru Ishiba, who resigned after electoral setbacks.

Takaichi’s Cabinet includes key political figures — Koizumi Shinjiro (Defence Minister), Hayashi Yoshimasa (Internal Affairs & Communications), Motegi Toshimitsu (Foreign Minister), and Katayama Satsuki (Finance Minister) — indicating unity among factions.

The new LDP-JIP coalition government will prioritise economic reform, national security, energy policy, and foreign relations.

 

IMPORTANT DAYS

Police Commemoration Day

Police Commemoration Day is observed on the 21st of October

On 21st October, Police Commemoration Day in India, a nationwide program will be conducted for the Police persons who proved their bravery and excellence in their duty.

Rewards and Promotions will be announced to appreciate their work and to motivate and continue their excellence in serving the nation.

The day commemorates the sacrifices of ten CRPF personnel who lost their lives while defending our border with China on October 21, 1959.

On 20th October 1959, The Indian Reconnaissance Party went missing. One of the three Parties launched from Ladakh does not return to the base.

On 21st October 1959, the Chinese army attacked and killed 10 brave Indian Soldiers.

From January 1960 they decided that October 21 would be declared as the Police Commemoration Day in India to remember and honour the sacrifices made by on-duty Police Personnel in the country.

 

OBITUTARY

Former New Zealand Prime Minister Jim Bolger

Jim Bolger, former Prime Minister of New Zealand (1990–1997), passed away at age 90 due to kidney failure after undergoing dialysis.

He entered Parliament in 1972, became leader of the National Party in 1986, and retired in 1998.

Later, he served as New Zealand’s Ambassador to the United States (1998–2002).

Bolger was instrumental in introducing the Mixed Member Proportional (MMP) electoral system, which is still used in New Zealand.

He is remembered as a principled and respected leader who made significant contributions to New Zealand’s political and social development.

 

 

 

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