DAILY CURRENT AFFAIRS 29-09-2025

Shankar School of Banking September 29 , 2025 53

NATIONAL NEWS

Tirumala Gets India’s First AI-Based Command Centre to Monitor Pilgrims

Andhra Pradesh CM N. Chandrababu Naidu, along with Vice-President C.P. Radhakrishnan, inaugurated India’s first Artificial Intelligence-powered Integrated Command and Control Centre (ICCC) at Tirumala on 25 September 2025.
It is located at Vaikuntam Queue Complex–I, the centre integrates 6,000 AI-enabled cameras, 3D situational maps, live dashboards, and advanced monitoring systems.
The system processes 3,60,000 payloads per minute, 518 million events, and generates 2.5 billion inferences daily, enabling:

Real-time crowd prediction, Faster queue management, Cyber threat monitoring and Enhanced pilgrim safety.

It is constructed under a Public-Private Partnership (PPP) with support from NRI philanthropists.

It predicts Sarva Darshanam wait-time right from Alipiri foothills.

It ensures strict vigilance at entry points to prevent liquor/prohibited items.

 

INTERNATIONAL NEWS

Ashok Leyland Signs 20-year pact with China’s CALB Group

Ashok Leyland Limited., India’s second-largest truck and bus maker, has signed a 20-year agreement with China’s CALB Group Co., the third-largest battery maker in China, to strengthen its lithium-ion battery technology capabilities.

The company will initially import cells from CALB and assemble them into packs, while gradually building domestic design and manufacturing capability.

CEO Shenu Agarwal stated that India must reduce dependence on imports to be a true EV player, as currently 70% of EV components are imported.

As part of the partnership, Ashok Leyland plans to invest ₹50,000 crore ($563 million) over 7–10 years to develop next-generation batteries for cars, buses, and grid applications.

Ashok Leyland, one of the world’s largest bus manufacturers, is already importing battery packs from CALB.

The collaboration aligns with India’s green energy and strategic self-reliance goals, while leveraging Chinese expertise in battery technology.

According to BloombergNEF, India is projected to become the third-largest battery market globally, with demand growing 19 times by 2035.

 

SCIENCE & TECHNOLOGY

DRDO Successfully Test-Fires Agni-Prime Intermediate Range Missile

The Defence Research and Development Organisation (DRDO), in collaboration with the Strategic Forces Command (SFC), successfully launched the Intermediate Range Agni-Prime Missile on 24 September 2025.

The launch was conducted from a Rail-based Mobile Launcher system, a first-of-its-kind capability in India.

The Agni-Prime Missile has a range of up to 2000 km and is equipped with advanced features.

The Rail-based Mobile Launcher can move on the rail network without pre-conditions, provides cross-country mobility, enables short reaction time, and ensures reduced visibility.

The launcher is self-sustained with independent launch capability, state-of-the-art communication systems, and protection mechanisms.

The missile’s trajectory was tracked by multiple ground stations, and the test was a textbook launch meeting all mission objectives.

This success paves the way for futuristic rail-based missile systems to be inducted into service.

The Road-Mobile Agni-P has already been inducted into the Indian armed forces after several successful trials

 

BANKING

Indigo And SBI Card Unveil Co-Branded Premium Credit Card For Customers

IndiGo launched a co-branded premium credit card in collaboration with SBI Card on September 25, 2025.

The card is available in two variants – IndiGo SBI Card and IndiGo SBI Card ELITE – under the IndiGo BluChip loyalty program.

Cardholders can earn rewards on spends within IndiGo’s ecosystem, as well as on hotel and travel bookings and other categories.

The card will bring value, convenience, and benefits to frequent flyers by turning everyday spending into rewarding travel experiences.

VinFast Auto India Inks MoU with Central Bank of India

VinFast Auto India, a subsidiary of global EV manufacturer VinFast, signed an memorandum of understanding (MoU) with Central Bank of India (CBI) to provide retail car financing through its exclusive dealer network.

The collaboration will make EV ownership more accessible by offering attractive interest rates, flexible repayment plans, zero processing charges, exclusive offers, and priority services.

Dedicated CBI representatives will be present at VinFast showrooms to provide on-site support for prospective buyers.

CBI’s network of 4,552 branches and 21,000+ touchpoints will extend VinFast’s reach to both metropolitan hubs and emerging markets.

This initiative supports VinFast’s vision to accelerate adoption of sustainable mobility in India, a fast-growing EV market globally.

The MoU comes ahead of VinFast’s VF 6 and VF 7 model launches in India and the inauguration of its EV assembly plant in Tamil Nadu.

VinFast (NASDAQ: VFS) is a subsidiary of Vingroup JSC, producing EVs, e-scooters, and e-buses, with expansion in North America, Europe, and Asia.

Nine EU Banks Collaborate To Introduce Mica-Compliant Euro Stablecoin

Nine European Banks, including ING, Banca Sella, KBC, Danske Bank, UniCredit, CaixaBank, and SEB, are collaborating to launch a Euro-backed stablecoin.

The initiative aims to provide an EU-native alternative to US Dollar-backed stablecoins.

A Netherlands-based entity has been created to oversee the project, seeking a Dutch Central Bank e-money institution license.

The stablecoin will be MiCA-compliant (Markets in Crypto-Assets regulation), with a target launch in the second half of 2026.

The consortium plans to appoint a CEO for the new company and expand by adding more banking partners.

EU regulations on crypto have tightened since MiCA 2023, especially for stablecoin transactions.

The move follows the GENIUS Act in the US (July 2025), which accelerated the EU's plans for a digital Euro.

Currently, USDC dominates the EU stablecoin market, while USDT faced delistings due to non-compliance with EU rules.

The new Euro-backed stablecoin aims to level the playing field against USD stablecoins, ensuring a fully compliant digital currency option in Europe.

 

DEFENCE

Ministry Of Defence Inks ₹62,370 Crore Contract with HAL

The Ministry of Defence (MoD) signed a contract with Hindustan Aeronautics Limited (HAL) to procure 97 Light Combat Aircraft (LCA) Mk1A for the Indian Air Force (IAF) at a cost of over ₹62,370 crore (excluding taxes).

The order includes 68 fighter jets and 29 twin-seaters, along with associated equipment.

Deliveries of the aircraft will commence in 2027-28 and be completed over a six-year period.

The Tejas Mk1A has more than 64% indigenous content and incorporates 67 new items compared to the 2021 contract.

Advanced systems integrated include UTTAM Active Electronically Scanned Array (AESA) Radar, Swayam Raksha Kavach, and indigenous control surface actuators, reinforcing Aatmanirbhar Bharat

The programme is supported by a supply chain of around 105 Indian companies and is expected to generate approximately 11,750 direct and indirect jobs annually.

The acquisition falls under the ‘Buy (India-IDDM)’ category of the Defence Acquisition Procedure 2020, highlighting the emphasis on indigenisation and self-reliance in defence manufacturing.

The Tejas Mk1A is the most advanced variant of India’s indigenously designed fighter aircraft and will enhance the IAF’s operational capability.

LCA Mk1A is the most advanced variant of indigenously designed and manufactured fighter aircraft, meeting the operational needs of IAF.

 

APPOINTMENTS & RESIGNATIONS

Government Extends General Anil Chauhan’s Tenure As Chief Of Defence Staff

General Anil Chauhan’s tenure as Chief of Defence Staff (CDS) has been extended till May 30, 2026, or until further orders, whichever is earlier.

He has been serving as CDS and Secretary, Department of Military Affairs (DMA) since September 30, 2022.

General Anil Chauhan is the second CDS of India, succeeding General Bipin Rawat.

The extension ensures leadership continuity in implementing defence reforms and theatre commands.

As CDS, he plays a key role in strengthening jointness among the Army, Navy, and Air Force through tri-service integration.

His extended tenure will accelerate the joint operations doctrine and boost India’s military effectiveness.

Under his leadership, DMA has pushed Atmanirbhar Bharat (self-reliance), procurement reforms, and defence modernization.

Managing Director of IIFCL

The Financial Services Institutions Bureau (FSIB) has recommended Rohit Rishi, Executive Director of Bank of Maharashtra, as the next Managing Director (MD) of IIFCL, succeeding P. R. Jaishankar.

P.R. Jaishankar completed a five-year tenure and demitted office in May 2025.

FSIB also recommended Manikumar Sivaramakrishnan, CGM at NABARD, as Deputy MD of IFCI Ltd.

India Infrastructure Finance Company Ltd. (IIFCL) was set up in 2006, is a wholly owned Government of India company, and since 2013 is registered with RBI as an NBFC-ND-IFC.

IIFCL has a paid-up capital of ₹9,999.92 crore as of 31 March 2025.

The final appointment will be decided by the Appointments Committee of the Cabinet (ACC) headed by PM Narendra Modi.

FSIB is headed by Bhanu Pratap Sharma, former Secretary of the Department of Personnel and Training (DoPT).

Irfaan Ali Re-elected as President of Guyana for Second Term

President Irfaan Ali has been re-elected for a second term in Guyana’s general election held on 1 September 2025.

His party, the People’s Progressive Party/Civic (PPP/C), won 36 out of 65 seats in the National Assembly, securing a parliamentary majority and a stronger mandate.

The newly launched We Invest in Nationhood (WIN) party, led by Azruddin Mohamed, won 16 seats, becoming the main opposition.

The A Partnership for National Unity (APNU) coalition, led by Aubrey Norton, fell to 12 seats, marking a significant decline.

Guyana’s economy is being transformed by its offshore oil production, which has generated over $7.5 billion in revenues since 2019.

 

 

 

 

 

 

 

 

                                        

 

 

 

 

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