DAILY CURRENT AFFAIRS 29-10-2025

Shankar School of Banking October 29 , 2025 92

NATIONAL NEWS

Aurangabad Railway Station Renamed as Chhatrapati Sambhajinagar Railway Station

The Aurangabad Railway Station in Maharashtra has been officially renamed as Chhatrapati Sambhajinagar Railway Station, as per a notification issued by the Central Railway.

The new station code is CPSN, and it comes under the Nanded Division of South Central Railway.

The renaming follows the 2022 decision of the Eknath Shinde-led Maharashtra government to rename the city of Aurangabad to Chhatrapati Sambhajinagar.

The official gazette notification for the renaming was issued on October 15, 2025, by the BJP-led Mahayuti government.

The earlier name “Aurangabad” was derived from Mughal emperor Aurangzeb, while the new name honours Chhatrapati Sambhaji Maharaj, the son of Chhatrapati Shivaji Maharaj and second ruler of the Maratha Empire.

The renaming is part of a larger effort to align public places with regional history and Maratha heritage.

The railway station was originally established in 1900 during the reign of Mir Osman Ali Khan, the 7th Nizam of Hyderabad.

Chhatrapati Sambhajinagar serves as a major hub for tourism and connectivity in central Maharashtra, located near Ajanta and Ellora Caves, both UNESCO World Heritage Sites.

The renaming holds cultural, political, and tourism significance – reinforcing Maratha identity, promoting heritage tourism, and aligning infrastructure with regional pride.

India to Host Asia Pacific Accident Investigation Group (APAC-AIG) Meeting and Workshop

India will host the Asia Pacific Accident Investigation Group (APAC-AIG) meeting and workshop for the first time from 28 to 31 October 2025, organized by the Aircraft Accident Investigation Bureau (AAIB) under the Ministry of Civil Aviation.

The event will bring together around 90 representatives from International Civil Aviation Organization (ICAO) member states in the Asia Pacific region, along with experts from global organizations.

The event will be inaugurated by Union Minister of Civil Aviation, Shri Rammohan Naidu.

APAC-AIG is an annual ICAO platform that promotes regional cooperation, sharing of technical expertise, and improvement of aircraft accident/incident investigation capabilities across Asia and the Pacific.

India hosting the meeting for the first time marks a major milestone in its civil aviation progress.

Hosting this event reinforces India’s commitment to global aviation safety, enhances its technical leadership in air crash investigation, and opens new avenues for regional cooperation and capacity building in aviation safety.

 

INTERNATIONAL NEWS

East Timor Joins Association of Southeast Asian Nations

East Timor (Timor-Leste) officially became the 11th member of Association of Southeast Asian Nations (ASEAN) on October 26, 2025, during the ASEAN Summit in Kuala Lumpur, where its flag was raised alongside other member states.

The membership marks a historic and strategic milestone for East Timor, fulfilling its long-standing goal of regional integration since independence in 2002.

East Timor’s ASEAN membership followed a 14-year application process, first initiated in the early 2000s.

President Jose Ramos-Horta, who won the Nobel Peace Prize in 1996, and Prime Minister Xanana Gusmao were instrumental in leading the nation’s independence and ASEAN integration efforts.

The country was a Portuguese colony for over 300 years, briefly independent in 1975, then occupied by Indonesia for 24 years, and finally gained full independence in 2002.

Despite its small population (1.4 million) and GDP of $2 billion, East Timor’s inclusion is politically significant for ASEAN, reinforcing its commitment to inclusivity and democratic values.

The other member countries of ASEAN are Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam.

 

BANKING

RBI Exempts Special Window for Affordable and Mid-Income Housing Fund from Tightened AIF Regulations

The Reserve Bank of India (RBI) granted an exemption to the Special Window for Affordable and Mid-Income Housing (SWAMIH) Fund from tightened Alternate Investment Fund (AIF) rules.

SWAMIH Fund, launched in 2019, is a government-backed real estate rescue fund that provides debt financing to revive stalled housing projects in affordable and mid-income segments.

The fund is managed by SBICAP Ventures, a subsidiary of the State Bank of India (SBI), which is also a major investor in the scheme.

The RBI’s tightened AIF rules (2024) required banks and NBFCs to raise provisions if they were also lenders to the same projects, aiming to prevent indirect lending and loan ever-greening.

The norms were partially relaxed in March 2025, but the government sought complete exemption for sovereign-backed funds like SWAMIH, citing their “socio-economic purpose.”

Under the general AIF framework, a single regulated entity’s exposure is capped at 10% of the fund’s corpus, and combined exposure by all lenders at 20%, but these limits do not apply to SWAMIH.

World Bank Sanctions USD 280 Million Project to Kerala

The World Bank has approved a USD 280 million programme to improve life expectancy and quality of life for 11 million elderly and vulnerable people in Kerala.

The Kerala Health System Improvement Program aims to expand health coverage and build resilient health systems against climate shocks.

The programme focuses on enhancing digital health systems, including eHealth services, integrated data platforms, and cybersecurity improvements.

The IBRD loan carries a 25-year maturity with a five-year grace period.

The initiative targets treatment and support for over 90% of hypertension and diabetes patients through individual electronic tracking systems.

 

DEFENCE

Spain’s Ocean Sky 2025 Air Combat Exercise

The Indian Air Force (IAF) has become the first non-North Atlantic Treaty Organization (NATO) country to participate in Exercise Ocean Sky 2025, a multinational air combat drill hosted by the Spanish Air Force at Gando Air Base, Canary Islands, from October 20–31, 2025.

This marks a historic milestone in India’s defence diplomacy, highlighting India’s rise as a credible aerospace power and its growing strategic partnership with Spain and NATO countries.

Exercise Ocean Sky is an annual air combat exercise focused on advanced aerial tactics, joint mission planning, interoperability, and real-time combat training among NATO air forces.

India’s participation showcases the IAF’s ability to operate with top Western air forces in complex air combat scenarios, strengthening its global operational readiness.

The exercise enhances IAF’s coalition warfare capabilities, provides exposure to advanced combat tactics, and fosters defence diplomacy by deepening India–Spain defence ties.

It also promotes interoperability for future joint operations, including humanitarian and disaster relief missions.

The event follows India’s participation in other major international exercises like Red Flag (US) and Garuda (France), reflecting its expanding global military engagements.

The exercise coincides with the induction of 16 Airbus C-295 tactical transport aircraft into the IAF, part of a USD 2.5 billion deal for 56 aircraft, with 40 to be manufactured in India by Tata Advanced Systems under the Make in India

The C-295 aircraft boosts India’s logistics, troop transport, airborne operations, and disaster response capabilities.

INS Sutlej Concludes 18th India–Mauritius Joint Hydrographic Mission

On October 26, 2025, the Indian Ministry of Defence announced that INS Sutlej successfully completed a major hydrographic survey with the Mauritius Hydrographic Service, covering about 35,000 sq nautical miles, strengthening India–Mauritius maritime cooperation.

The mission was conducted under the 2005 MoU on hydrographic cooperation between both nations, marking the 18th joint hydrographic mission and reflecting a long-term strategic partnership.

INS Sutlej, an advanced hydrographic survey ship, is equipped with multibeam echo sounders, side-scan sonar, and differential GPS for accurate seabed and coastal mapping.

The survey included a capacity-building component, training six Mauritian officials in modern hydrographic techniques onboard the vessel.

INS Sutlej also conducted joint EEZ surveillance and anti-piracy patrols with the Mauritius National Coast Guard, enhancing regional maritime security.

A formal hand-over ceremony was held where the survey fair-sheet was presented to Mauritian authorities in the presence of Minister Shakeel Mohamed and Indian High Commissioner Anurag Srivastava.

The mission supports India’s MAHASAGAR initiative (Mutual & Holistic Advancement for Security and Growth Across the Regions), aligning with its broader Indian Ocean maritime strategy.

 

APPOINTMENTS & RESIGNATIONS

Chief Justice of India

Chief Justice of India (CJI) B.R. Gavai has recommended Justice Surya Kant, the senior-most judge of the Supreme Court, as his successor and the 53rd Chief Justice of India (CJI).

The recommendation was made on October 27, 2025, following a communication from the Union Government on October 23, 2025, initiating the appointment process.

Chief Justice Gavai is set to retire on November 23, 2025, and Justice Surya Kant is expected to take oath immediately after his retirement.

Justice Kant will serve as CJI until February 9, 2027, marking a 14-month tenure.

He will be the first Chief Justice of India from Haryana

He became the youngest Advocate General of Haryana on July 7, 2000, and was designated Senior Advocate in March 2001.

He was elevated as a Judge of the Punjab and Haryana High Court on January 9, 2004, and later became the Chief Justice of the Himachal Pradesh High Court in October 2018.

Justice Surya Kant was appointed to the Supreme Court on May 24, 2019, and is due to retire on February 9, 2027.

He has been part of several landmark Supreme Court judgments, including those related to the abrogation of Article 370, the Electoral Bonds Scheme, the Pegasus spyware case, and the suspension of the sedition law.

 

SPORTS

FIFA Announces the FIFA ASEAN Cup at the 47th ASEAN Summit

FIFA President Gianni Infantino announced the launch of the FIFA ASEAN Cup during the 47th ASEAN Summit held in Kuala Lumpur.

The tournament aims to enhance football standards across Southeast Asia and foster regional unity and youth development.

The initiative marks a historic collaboration between FIFA and ASEAN, following the success of the FIFA Arab Cup model.

The ASEAN Cup will feature national teams from all 11 ASEAN member states, including East Timor, which was formally admitted to ASEAN just before the announcement.

FIFA and ASEAN signed a renewed Memorandum of Understanding (MoU), reaffirming their joint commitment to football development in the region.

FIFA will work with the Asian Football Confederation (AFC), the ASEAN Football Federation (AFF), and national football associations of member countries to finalize the structure, format, and schedule.

The ASEAN Cup will be modeled on the FIFA Arab Cup, providing a platform for competitive exposure and preparation for World Cup and Asian Cup participation.

The tournament also supports ASEAN’s broader goals of sports diplomacy, infrastructure growth, and inclusive regional engagement.

 

IMPORTANT DAYS

India Observes Vigilance Awareness Week 2025

India began observing Vigilance Awareness Week 2025 from 27thOctober 2025 to 2rdNovember 2025, with the theme “Vigilance – Our Shared Responsibility.”

The observance is held annually in the last week of October to commemorate the birth anniversary of Sardar Vallabhbhai Patel (31 October).

The initiative promotes integrity, accountability, and ethical conduct in public life, involving ministries, departments, PSUs, banks, educational institutions, and civil society.

The 2025 theme emphasizes that vigilance against corruption is a shared duty, encouraging participation from government officials, corporate employees, students, and citizens.

The week began with pledge ceremonies across government offices in India; at the Central Vigilance Commission (CVC) headquarters, New Delhi, the oath was administered by Central Vigilance Commissioner Praveen Kumar Srivastava and Vigilance Commissioner A. S. Rajeev.

Public and private institutions conducted seminars, awareness sessions, debates, quizzes, essay competitions, integrity clubs, and grievance redressal camps to promote awareness on vigilance.

 

                            

 

 

 

 

 

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