Current Affairs One - Liner :14th February 2025

 National:

• Department for Promotion of Industry and Internal Trade (DPIIT) has mandated Quality Control Orders (QCOs) for stainless steel seamless pipes and tubes, effective from August 1, 2025. This measure aims to curb the import of sub-standard goods, boost domestic manufacturing, and ensure consumer safety.

                                  

• The government is organizing a nationwide special campaign to register on the National Fisheries Digital Platform from February 14 to 22, 2025. The campaign aims to expedite registration approvals and mobilize applications from fishers, fish farmers, vendors, processors, and microenterprises.
• The Central government imposed President's Rule in Manipur on February 13, 2025, following Chief Minister N. Biren Singh's resignation on February 9. This decision came after the BJP-led government failed to find a consensus replacement.
• The 12th All India Pension Adalat, chaired by Union Minister Dr. Jitendra Singh on February 13, 2025, in New Delhi, aimed to resolve pension cases pending for over 120 days across various departments. The event's theme was "Ensuring Humane Governance and Ease of Living for Pensioners," providing a platform for on-the-spot grievance resolution.
• India's drug regulator, CDSCO, has approved Bharat Biotech's lumpy skin disease vaccine, Biolumpivaxin. Developed in collaboration with ICAR, it's the world's first DIVA marker vaccine, allowing distinction between vaccinated and naturally infected animals. The vaccine aims to protect dairy cattle and buffaloes from LSD and control outbreaks.

International:

• India and the United States aim to more than double their bilateral trade to USD 500 billion by 2030. This goal was announced during Prime Minister Narendra Modi's visit to Washington.

Banking:

• Axis Bank launched a new mobile app feature for easy Fixed Deposit (FD) booking on February 11, 2025. This feature allows customers to open FDs using funds from non-Axis Bank accounts via UPI and Net Banking. It leverages the Account Aggregator ecosystem, ensuring a seamless and user-friendly FD creation process.
• India's Index of Industrial Production (IIP) growth rate for December 2024 was 3.2 percent. This reflects growth in key sectors: mining expanded by 2.6%, manufacturing grew by 3.0%, and electricity production increased by 6.2%.
• On February 11, 2025, Finance Minister Nirmala Sitharaman informed the Lok Sabha that non-performing assets (NPA) related to gold loans for Scheduled Commercial Banks (SCBs) rose by over 21%. This increase highlights growing financial stress and the need for stronger risk assessment measures.
• On February 13, 2025, the Reserve Bank of India (RBI) imposed restrictions on New India Co-operative Bank. These include a ban on issuing new loans, accepting fresh deposits, and permitting withdrawals for six months due to financial stability concerns.

Economy:

• West Bengal Finance Minister Chandrima Bhattacharya presented a ₹3.89 lakh crore budget for FY26 on February 12, 2025. The budget focuses on social welfare, rural growth, and infrastructure. Key highlights include a 4% DA increase for state government employees, ₹1,500 crore for rural road improvements, and ₹9,600 crore for the "Banglar Bari" housing project.
• Kerala Finance Minister KN Balagopal presented the State Budget for 2025-26 on February 7, 2025. The budget focuses on infrastructure development, social security, education, and technology. Key allocations include ₹750 crore for Wayanad landslide victims, ₹402 crore for the noon meals program, and ₹100 crore for power generation projects.

Science & Technology:

• SpaceX launched 21 Starlink satellites into orbit aboard a Falcon 9 rocket on February 11, 2025. The launch included 13 satellites with direct-to-cell capability. The mission took place from Cape Canaveral Space Force Station, and the Falcon 9's first stage booster landed on the droneship "A Shortfall of Gravitas."
• China approved the construction of its first deepwater "space station" in the South China Sea, set to be operational by 2030. The facility will be located 2,000 meters below the surface and will study cold seep ecosystems, methane hydrates, and other marine research areas.

Reports:

• Union Minister S.P. Singh Baghel released the Devolution Index Report titled "Status of Devolution to Panchayats in States - An Indicative Evidence Based Ranking 2024" on February 13, 2025. The report assesses decentralization across states, evaluating six dimensions: Framework, Functions, Finances, Functionaries, Capacity Building, and Accountability. It aims to enhance local self-governance and transparency.

Sports:

• Kevin Durant has become the eighth player in NBA history to score 30,000 points, reaching this milestone during a game against the Memphis Grizzlies on February 11, 2025.
• The Top 20 Richest Families in Asia 2025 ranking, released by Bloomberg, highlights the wealthiest families in Asia from various sectors like energy, technology, and finance. The list features prominent families such as the Ambanis, Mistrys, Jindals, Birlas, Bajajs, and Hindujas, among others.

Important Days:

• World Congenital Heart Defect (CHD) Awareness Day is observed on February 14 every year to raise awareness about congenital heart defects. The 2025 theme is "Spreading Hope & Support for Stronger Hearts," aiming to educate, promote early diagnosis, and support affected individuals and families.

Appointments & Resignations:

• Ilie Bolojan took over as Romania's interim president on February 12, 2025, after Klaus Iohannis resigned. Bolojan, previously the President of the Senate, will serve until the presidential elections in May 2025. He aims to ensure stability and oversee fair elections.
• Jotham Napat was elected as the new Prime Minister of Vanuatu on February 11, 2025. He is the country's fifth prime minister in four years and will lead a coalition government of five political parties.
• CA Charanjot Singh Nanda was elected as the 73rd President of the Institute of Chartered Accountants of India (ICAI) on February 12, 2025. The election took place during a meeting of the 26th Central Council in New Delhi.

Awards & Honours:

• Natarajan Chandrasekaran, Chairman of Tata Group, received The Most Excellent Order of the British Empire (Civil Division) on February 14, 2025. This honor recognizes his contributions to UK-India business relations.

Questions:

1. Which Indian bank launched a new mobile app feature allowing customers to book Fixed Deposits (FDs) using funds from non-bank accounts via UPI and Net Banking?

a) HDFC Bank

b) Axis Bank 

c) ICICI Bank 

d) State Bank of India

Answer: b) Axis Bank introduced this feature on February 11, 2025, leveraging the Account Aggregator ecosystem to simplify FD booking.

2. Who was elected as the 73rd President of the Institute of Chartered Accountants of India (ICAI) on February 12, 2025?

a) Ranjeet Kumar Agarwal 

b) Nihar Jambusaria 

c) Charanjot Singh Nanda 

d) Debashis Mitra

Answer: c) CA Charanjot Singh Nanda was elected as the 73rd President of the Institute of Chartered Accountants of India (ICAI) on February 12, 2025.