Current Affairs One - Liner : 21st February 2025

National:

• On February 18, 2025, Brazil officially joined the OPEC+ group of major oil-exporting nations. This move marks Brazil's evolution into a significant oil state, aligning with 12 OPEC members and 10 other major oil-producing nations. Brazil's participation will be limited to the Charter of Cooperation, without binding obligations like production cuts.

• Godrej Enterprises Group has partnered with Italian automation specialist Bisiach & Carru to produce advanced railway and aerospace equipment in India. Announced on February 17, 2025, this collaboration supports India's self-reliance agenda and aims to increase local manufacturing.
• The Competition Commission of India (CCI) approved the amalgamation of Svatantra Holdings Pvt Ltd (SHPL) and Chaitanya India Fin Credit Pvt Ltd (CIFCPL) into Svatantra Microfin Pvt Ltd (SMPL) on February 18, 2025. This merger enhances financial inclusion and streamlines operations within the microfinance and housing finance segments.
• The 2nd edition of the Simolu Festival was held in Nagaon, Assam, starting on February 15, 2025. This two-day event celebrated the beauty of Bombax ceiba blossoms with activities like cycling and cultural performances. The festival aimed to connect people with nature and promote environmental conservation.
• India and Saudi Arabia formed a new media partnership ahead of the WAVES 2025 summit. A high-level Indian delegation, led by Information and Broadcasting Secretary Sanjay Jaju, concluded strategic meetings in Saudi Arabia. This collaboration aims to enhance media cooperation and promote the upcoming World Audio-Visual & Entertainment Summit (WAVES 2025) in Mumbai.
• India is the world's second country, after China, to introduce digital pilot licenses. The Electronic Personnel License (EPL) for pilots, launched by DGCA on February 20, 2025, enables pilots to access their licenses digitally via the eGCA Mobile Application. This move enhances safety, security, and efficiency in India's civil aviation sector.
• The Delhi International Leather Expo (DILEX) 2025 was organized by the Council for Leather Exports (CLE) on February 20-21, 2025, at the India International Convention & Expo Centre (IICC) in New Delhi. The event featured 225 Indian exhibitors and over 200 international buyers, with a target of achieving $7 billion in exports by FY 2025-26.
• Microsoft unveiled the Majorana 1 quantum chip on February 19, 2025. This chip leverages topological qubits for enhanced stability and scalability, uses new materials like topoconductors, and aims to make quantum computations more reliable. This innovation marks a pivotal moment in the field of quantum computing.

Banking:

• Federal Bank has launched the Prospera NRE Savings Account for NRIs on February 19, 2025, in Dubai. This account offers benefits like complimentary insurance up to ₹60 lakh, airport lounge access, and special rewards for debit card spends. The launch event emphasized the bank's strong ties with NRIs and its commitment to enhancing their financial experience.
• Karnataka Bank celebrated its 101st Founders' Day on February 18, 2025, by launching two new products: KBL Stri, a savings account for women, and KBL One Family Banking Programme, which links family members under one ID for shared benefits.

Economy:

• India is projected to become a high-income country by 2047, with a GDP of $23-35 trillion. This growth will be driven by sustained annual growth of 8-10%, leveraging the demographic dividend, technological innovation, and sectoral transformation. Key sectors like electronics, energy, chemicals, automotive, and services will play pivotal roles in this economic expansion.
• Gujarat Finance Minister Kanubhai Desai presented a ₹3.70 trillion budget for the financial year 2025-26 on February 20, 2025. The budget emphasizes social security, human resource development, infrastructure development, green growth, and economic activities.
• ICRA projected India's GDP growth to rise to 6.4% in Q3 FY2025, driven by increased government spending on capital and revenue expenditure. The report, released on February 18, 2025, highlights improvements in investment activity and high growth in services and merchandise exports.

Defence:

• The Defence Ministry signed a ₹1,220 crore deal with Bharat Electronics Limited (BEL) on February 20, 2025, for 149 Software Defined Radios (SDRs) for the Indian Coast Guard. These advanced SDRs will enhance secure communication and interoperability with the Navy, bolstering maritime security.

Important Days:

• International Mother Language Day is celebrated on February 21 each year. The theme for 2025 is "Languages Matter: Silver Jubilee Celebration of International Mother Language Day". This day promotes linguistic diversity and encourages progress towards building an inclusive and sustainable world by 2030.

Appointments:

• Vivek Joshi, a 1989-batch Haryana-cadre IAS officer, assumed charge as Election Commissioner on February 17, 2025. His appointment restores the Election Commission to a three-member body, alongside Chief Election Commissioner Gyanesh Prakash and Election Commissioner Sukhbir Singh Sandhu.
• The government has extended the tenure of Chief Economic Adviser (CEA) V. Anantha Nageswaran until March 2027. This decision was approved by the Appointments Committee of the Cabinet (ACC) headed by Prime Minister Narendra Modi.
• Kash Patel was sworn in as the ninth Director of the Federal Bureau of Investigation (FBI) on February 21, 2025. He took his oath on the Bhagavad Gita, marking a historic moment for Indian representation in U.S. law enforcement.
• Salila Pande has been appointed as the Managing Director (MD) & Chief Executive Officer (CEO) of SBI Card, effective April 1, 2025. The announcement was made on February 17, 2025. She will succeed Abhijit Chakravorty, who is retiring on March 31, 2025.
• The Nagaland Forest Management Project (NFMP) received the SKOCH Award 2024 for its sustainable forest conservation efforts and improving livelihoods in villages. The award was presented during the 100th SKOCH Summit on February 15, 2025, in New Delhi.

Questions:

Q.1 The Nagaland Forest Management Project (NFMP) received which prestigious award in 2024?
a) Green India Award
b) National Environmental Excellence Award
c) SKOCH Award
d) UNDP Sustainable Development Award

Answer: c) The Nagaland Forest Management Project (NFMP) was recognized with the SKOCH Award 2024 for its contributions to sustainable forest conservation and improving rural livelihoods.

Q.2 As per ICRA’s projection, what is the expected GDP growth rate of India for Q3 FY2025?
a) 5.8%
b) 6.2%
c) 6.4%
d) 7.0%

Answer: c) According to the ICRA report released on February 18, 2025, India's GDP growth is expected to rise to 6.4% in the third quarter (Q3) of FY2025.