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Daily G.K. - Top Stories

25 Feb 2025

DAILY G.K. TEST

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INTERNATIONAL AFFAIRS

US Refuses to Blame Russia for Ukraine War, Splits with European Allies in UN Votes

  • In a dramatic shift in transatlantic relations under President Donald Trump, the United States split with its European allies by refusing to blame Russia for its invasion of Ukraine in votes on three UN resolutions seeking an end to the three-year war.
  • In the UN General Assembly, the US joined Russia in voting against a Europe-backed Ukrainian resolution that calls out Moscow's aggression and demands an immediate withdrawal of Russian troops.
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BUSINESS AND ECONOMY

RBI Fines Citibank, Asirvad Micro Finance, and JM Financial for Violations

  • The Reserve Bank of India (RBI) imposed monetary penalties on Citibank N.A., Asirvad Micro Finance, and JM Financial Home Loans for failing to comply with key regulatory norms. According to the central bank, these financial institutions were found violating guidelines related to large exposures, credit information reporting, and disclosure requirements. The penalties were issued following an inspection of their financial positions as of March 31, 2023.
  • Citibank N.A. was fined Rs. 39 lakh by the RBI for violating the 'Large Exposures' framework. The bank failed to report breaches within the required timeframe and delayed uploading corrected data to Credit Information Companies (CICs).
  • Asirvad Micro Finance faced a penalty of Rs. 6.20 lakh for multiple infractions. The RBI noted that the company failed to report the household incomes of certain borrowers to CICs, which is a key requirement for financial transparency. Additionally, some gold loan customers were not provided with the necessary factsheets, a violation of lending disclosure norms.
  • JM Financial Home Loans was penalised Rs. 1.50 lakh for not disclosing crucial loan details to its customers. The RBI found that the company failed to explain its risk gradation methodology and did not clarify the reasons for charging different interest rates to borrowers in various categories.

Bajaj Allianz Life Launches Bima-ASBA, a First in India

  • Bajaj Allianz Life Insurance Company (BALIC) introduced the Bima-Application Supported by Blocked Amount (Bima-ASBA) facility, making it the first insurer in India to adopt this new payment method. The initiative, introduced by the Insurance Regulatory and Development Authority of India (IRDAI), aims to enhance transparency and convenience in premium payments. Bima-ASBA allows policyholders to block a specific premium amount in their bank accounts, ensuring better financial security and control. This move aligns with IRDAI's broader goal of increasing insurance accessibility and simplifying transactions for customers.
  • Under this IRDAI initiative, policyholders can opt for UPI's One-Time Mandate (OTM) and authorise the blocking of a specified amount (up to Rs. 2 lakh) in their bank account via UPI. The amount will be debited only after the insurance company completes the underwriting process and decides to accept the proposal.

FMCG Major Adani Wilmar Changes Name to AWL Agri Business Limited

  • Adani Group's FMCG unit, Adani Wilmar, changed its name to AWL Agri Business Limited. This came after securing an approval from its shareholders.
  • The rebranding aims to align the company's identity with its core business activities and future growth prospects in the agri-business industry. The decision, which marks a significant shift for the company, reflects its expanded focus on the agriculture and food sector.
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SCIENCE & TECHNOLOGY

China Successfully Launches ChinaSat-10R

  • China successfully launched the ChinaSat-10R (Zhongxing-10R) communications satellite into geosynchronous transfer orbit (GTO). The satellite, which replaces the aging ChinaSat-10, was carried by a Long March 3B rocket from the Xichang Satellite Launch Centre. This mission marked China's continued efforts to enhance its satellite communication infrastructure, particularly in support of sectors like transportation, emergency response, energy, forestry, and the Belt and Road Initiative (BRI).
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SPORTS

Saurav Ghosal Marks Triumphant Return with Sydney Title

  • Indian squash legend Saurav Ghosal marked a sensational return from retirement by clinching the Octane Sydney Classic title. The former World No. 10 had retired from the Professional Squash Association (PSA) Tour in April 2023 but continued to express his desire to represent India. In January 2025, he rejoined the PSA Tour, keeping his aspirations alive. In a dominant performance, the second seed outclassed Egypt's Abdelrahman Nasser in straight sets in the final and claimed victory.

Rachin Ravindra Becomes New Zealand's Leading Century-scorer in ICC ODI Events

  • Rachin Ravindra became New Zealand's most successful batter in the ICC ODI events by toppling the record of scoring most centuries for the Blackcaps.
  • Rachin now boasts four centuries in ICC ODI events, the most by any New Zealand player. He surpassed icons Kane Williamson and Nathan Astle, who have three centuries each in ICC ODI events.

Asia Cup Archery: India Tops Medal Tally with 8 Medals, Including 5 Gold

  • India topped the medal standings at the first leg of the Asia Cup World Ranking Archery Tournament in Bangkok, Thailand, securing eight medals, including 5 gold, at the conclusion of competitions.
  • In the recurve men's section, India's Vishnu Choudhary and Rahul finished 1-2.
  • The other four gold were won by Basanti Mahato (women's recurve), Kushal Dalal (men's compound), men's recurve team of Vishnu, Goldi Mishra and Rahul, and the men's compund team of Kushal, Manav Ganeshrao Jadhao and Ganesh Mani Ratnam.
  • The recurve mixed team of Basanti and Vishnu also picked up a silver, while the women's compound team of Avneet Kaur, Madhuravarshini Muruganantham and Chikitha Taniparthi clinched a bronze.
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NATIONAL AFFAIRS

Two-Day National Start-up Festival Organised by CSIR-IIIM Concludes

  • The two days long National Start-up Festival (NSF) organised by CSIR-Indian Institute of Integrative Medicine (IIIM) concluded.
  • The festival showcased remarkable success stories in start-up promotion, innovation and entrepreneurial growth across Jammu & Kashmir.
  • The two-day festival was inaugurated by the Chief Guest, Jitendra Singh, Union Minister of State in the Prime Minister's Office.
  • The event held attracted huge crowd of students drawn from various degree colleges and schools of Jammu region to provide a platform to the entrepreneurs, investors, industry leaders, scientists, researchers, bio-incubators, manufacturers, regulators and members of civil society to witness the technologies and innovation showcased during the festival.

Dr. Mansukh Mandaviya Inaugurates Regional Dialogue on Social Justice

  • The Confederation of Indian Industry (CII) and the Employers' Federation of India (EFI), in partnership with the Ministry of Labour and Employment, the International Labour Organisation (ILO) and the Employees' State Insurance Corporation (ESIC), organised Asia Pacific's first Regional Dialogue on Social Justice, under the Global Coalition for Social Justice in New Delhi. The event was inaugurated by Dr. Mansukh Mandaviya.
  • The event marked the 74th Foundation Day of ESIC, celebrating its role in providing comprehensive social security to India's workforce.
  • The Global Coalition for Social Justice, a global movement with over 336 partners, including 90 governments, aims to bridge social justice deficits through multi-stakeholder collaboration.

Y. K. Sailas Thangal Appointed Indian Envoy to Kazakhstan

  • Y. K. Sailas Thangal, a 1996 batch Senior Indian Foreign Service (IFS) officer, was appointed as the next Ambassador of India to the Republic of Kazakhstan, the Ministry of External Affairs (MEA) announced.
  • India and Kazakhstan enjoy close cultural relations that manifest in popularity of yoga, Indian films, dance and music in Kazakhstan.
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DEFENCE

Indian Coast Guard Holds 'Sagar Kavach' Drill for Coastal Security

  • The Indian Coast Guard (ICG) successfully conducted the 'Sagar Kavach' security exercise along the 158 km West Bengal coastline. This two-day operation aimed to test and enhance the coastal security mechanism by involving multiple agencies in tackling simulated threats. The exercise focused on refining Standard Operating Procedures (SOPs) and strengthening inter-agency coordination to counter potential threats along India's eastern maritime border.
  • A major highlight of the security exercise was the coordinated effort between multiple agencies. The Indian Coast Guard led the operation, but several other security and enforcement agencies played critical roles:
  • Maritime Patrols: The ICG, Navy, West Bengal Police, CISF, BSF, and Customs conducted active patrolling across the coastline, ensuring a multi-layered security cover.
  • Coastal Surveillance: District police and forest department personnel enhanced on-ground monitoring, keeping a close watch on suspicious activities.
  • Community Engagement: Fishermen's watch groups played a key role as informants, acting as the "Eyes and Ears" of security forces. Their contribution was crucial in reporting potential threats from the ground level.
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PERSONS IN NEWS

Legendary Odissi Dancer Mayadhar Raut Passes Away

  • Renowned Odissi maestro Mayadhar Raut, often referred to as the "Father of Odissi dance," passed away at the age of 92.
  • He was instrumental in the revival and codification of Odissi dance in the 1950s. His contributions, including the introduction of Sanchari Bhava, Mudra Viniyoga, and Rasa Theory, helped shape Odissi into a structured classical dance form.
  • Mayadhar Raut was honoured with many awards, such as the Padma Shri (2010), Sangeet Natak Akademi Award (1985), Sahitya Kala Parishad Award (1984) and the Odissi Sangeet Natak Akademi Award (1977).
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DAYS AND EVENTS

RBI Launches Financial Literacy Week 2025 with a Focus on Women's Prosperity

  • The Reserve Bank of India (RBI) launched the tenth edition of Financial Literacy Week (FLW) 2025, with the theme "Financial Literacy: Women's Prosperity."
  • According to the RBI, the FLW 2025 is being observed from February 24 and 28, 2025.
  • The top management and regional heads of the Reserve Bank, NABARD and heads of select commercial banks attended the launch ceremony.
  • The event was inaugurated by RBI Governor Sanjay Malhotra, who emphasised the importance of empowering women to play a significant role in driving the country's inclusive and sustained economic growth.
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AWARDS AND HONOURS

Sunil Bharti Mittal Receives Honorary Knighthood by British High Commission

  • Bharti Enterprises founder and chairman, Sunil Bharti Mittal, was awarded an Honorary Knighthood (KBE) for his contributions to strengthening India-UK business relations. Mittal received the Knight Commander of the Most Excellent Order of the British Empire (KBE) at a special investiture ceremony at the British High Commissioner's residence in New Delhi. This honour was conferred under King Charles III, making him the first Indian citizen to receive it during the new monarch's reign. Mittal has played a key role in enhancing trade and investment between the two nations, contributing significantly through Airtel Africa, Eutelsat OneWeb, and his leadership in the India-UK CEO Forum.

IIMCAA Awards 2025

  • Writer-lyricist Neelesh Misra and NGO 'Goonj' founder Anshu Gupta were jointly conferred the 'Alumni of the Year' award by the Indian Institute of Mass Communication, which held the 9th edition of the IIMC Alumni Association Awards in New Delhi.
  • BBC Hindi journalist Sarvapriya Sangwan was awarded the 'Journalist of the Year'. Around 80 IIMC alumni who graduated from the institute 25 years ago were given silver jubilee honours at the ceremony.
  • As part of the committee awards, Prof Ashok Ogra from Delhi, Jahnabi Phookan from Guwahati, Sujata Sabnis from Pune, Prof Shambhu Nath Singh from Tezpur and Dr Medini Prasad Roy from Delhi were honoured with Lifetime Achievement Award. The Public Service Award was given to Jamshedpur SSP Kishor Kaushal and social worker Aditya Vardhan from Gaya. Ketan Tanna from Maharashtra, Sudhansu Kumar Patro from Odisha and Marinder Mishra from Uttar Pradesh received the Connecting Alumni of the year award, while the IIMCAA Gujarat Committee was given the Connecting Chapter of the year award.
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GENDER/ HEALTH/ EDUCATION

Sabyasachi Kar is Director of Institute of Economic Growth

  • The Institute of Economic Growth (IEG), a premier research and training institute based in New Delhi, appointed Professor Sabyasachi Kar as its new Director. He took over from Professor Chetan Ghate, bringing with him vast academic and policy-making experience. IEG, known for its contributions to economic and social research, and plays a key role in shaping India's economic policies.
  • Professor Sabyasachi Kar has been associated with IEG for a long time and has held several key positions in academic and policy circles. Before his appointment as Director, he was the Reserve Bank of India (RBI) Chair Professor at IEG. His expertise extends beyond academia, as he is also a member of the Ministry of Statistics and Programme Implementation's (MoSPI) Committee on Regional Accounts.
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ART AND CULTURE

Mising Tribe Celebrates Ali Ai Ligang Festival

  • The Mising tribe, one of Assam's largest indigenous communities, celebrated the Ali Ai Ligang festival, a significant cultural and agricultural event. The festival marks the beginning of the sowing season. It is deeply connected to the agricultural traditions of the Mising people, who primarily depend on farming for their livelihood.
  • Ali Ai Ligang is an important festival for the Mising community, symbolizing the start of a new agricultural cycle. The name itself reflects its meaning—"Ali Ai" refers to seeds, and "Ligang" means sowing. This festival represents the close bond between the Mising people and their land, reinforcing their dependence on agriculture for survival.
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