Current Affairs One - Liner :16th & 17th February 2025

 National:

• India and Sri Lanka have agreed to strengthen their bilateral cooperation in mining, exploration, and securing critical minerals. This collaboration aims to support both nations' economic and industrial growth.

                                  

• Abu Dhabi National Oil Company (ADNOC) Gas and Indian Oil Corporation (IOC) have signed a 14-year Sales and Purchase Agreement (SPA) for the supply of up to 1.2 million tonnes per annum (MTPA) of Liquefied Natural Gas (LNG). The agreement, valued between $7 billion and $9 billion, will begin deliveries in 2026.
• A January 2025 study revealed that stubble burning in Punjab and Haryana contributes only 14% of PM2.5 in Delhi-NCR. Local emissions from vehicles, industries, and biomass burning play a more significant role in air pollution.
• Bharat Tex 2025 was held from February 14-17, 2025, at Bharat Mandapam in New Delhi. It showcased the full spectrum of the textile value chain and promoted innovation, sustainability, and emerging technologies in the silk sector. The event saw participation from over 120 countries.

International:

• The 17th BRICS Summit will be hosted by Brazil in Rio de Janeiro on July 6-7, 2025. Brazil, currently holding the rotating presidency of BRICS, will focus on promoting global governance reform and cooperation among Global South countries during the summit.

Banking:

• The National Payments Corporation of India (NPCI) introduced a new UPI rule effective February 15, 2025, for the automatic acceptance or rejection of chargebacks based on Transaction Credit Confirmation (TCC) and return requests. This aims to streamline dispute resolution, reduce penalties, and improve reconciliation efficiency for banks.
• The Reserve Bank of India (RBI) extended Vakrangee Ltd.'s authorization to operate White Label ATMs (WLAs) until March 31, 2026. Vakrangee operates 6,035 WLAs, with 76% located in Tier 4 and Tier 6 areas, enhancing financial accessibility in underserved regions.
• The Reserve Bank of India (RBI) has lifted the supervisory restrictions on Kotak Mahindra Bank as of February 12, 2025. These restrictions, initially imposed due to deficiencies in the bank's IT systems, had prevented it from onboarding new customers online and issuing new credit cards.
• The Reserve Bank of India (RBI) approved Zulia Investments Pte. Ltd., an indirect wholly-owned subsidiary of Temasek Holdings, to increase its stake in AU Small Finance Bank (AU SFB) up to 7%. The approval, dated February 12, 2025, allows acquisition within a year, complying with regulatory frameworks.
• The International Finance Corporation (IFC) invested Rs 860 crore in India's first Sustainability-Linked Bond (SLB) in the road sector, issued by Cube Highways Trust (Cube InvIT), on February 13, 2025. The bond will finance Cube InvIT's acquisition of NAM Expressway Limited, promoting sustainable practices.
• ONGC NTPC Green Private Limited (ONGPL) has acquired a 100% stake in Ayana Renewable Power for ₹19,500 crore. This acquisition expands ONGPL's renewable energy portfolio to 4.1 GW and strengthens India's transition to a low-carbon economy.
• The Reserve Bank of India (RBI) imposed penalties totaling ₹68.1 lakh on Nainital Bank and Ujjivan Small Finance Bank on February 14, 2025. Nainital Bank was fined ₹61.40 lakh for non-compliance with directions on interest rates and customer service, while Ujjivan Small Finance Bank faced a ₹6.70 lakh penalty for not adhering to guidelines on loans and advances.
• As of February 14, 2025, 20 non-banking financial companies (NBFCs), including Reliance Commercial Finance and IDFC Limited, have surrendered their registration certificates to the Reserve Bank of India (RBI). The reasons for surrendering include exiting the non-banking financial institution business and ceasing to be legal entities.
• The Reserve Bank of India (RBI) has approved the Bank of Maharashtra (BoM) to establish an International Financial Services Centre (IFSC) Banking Unit in GIFT City, Gandhinagar. This will be BoM's first international branch, enabling offshore banking operations. The approval was announced on February 16, 2025.
• The Export Import Bank of India (Exim Bank) will provide USD 300 million in credit to Vietnam for procuring high-speed guard boats and offshore patrol vessels. The agreements, effective from January 20, 2025, include USD 180 million for Offshore Patrol Vessels and USD 120 million for high-speed guard boats. The announcement was made on February 13, 2025.
• Decentro launched India's first fully compliant, self-hosted Central KYC (CKYC) solution on February 15, 2025. This aligns with CERSAI's new compliance mandate and offers faster processing, lower compliance costs, and secure cloud hosting.

Economy:

• India's Wholesale Price Index (WPI) based inflation declined from 2.37% in December 2024 to 2.31% in January 2025, driven by a significant fall in food prices. The data was released on February 14, 2025. The food index inflation dropped to 7.47% in January 2025 from 8.89% in December 2024, contributing to the overall decline in WPI inflation.

MoUs:

• The Ministry of Ayush and the Department of Social Justice and Empowerment (DoSJE) signed a Memorandum of Understanding (MoU) on February 12, 2025, in New Delhi. This strategic partnership aims to enhance geriatric healthcare and combat substance abuse by implementing Ayush-based interventions.

Sports:

• The Asian Winter Games 2025 took place in Harbin, China, from February 7 to 14, 2025. China dominated the event, while India ended the games without winning any medals. Despite this, the Indian contingent gained valuable experience and exposure for future competitions.
• Ugandan runner Jacob Kiplimo broke the half-marathon world record in Barcelona on February 16, 2025, with a time of 56 minutes and 42 seconds. He surpassed the previous record of 57:30 set by Ethiopia's Yomif Kejelcha. This performance marked the greatest single improvement on the men's world half-marathon record.

Military Exercises:

• The 13th edition of the India-Maldives Joint Military Exercise 'Ekuverin' took place in the Maldives from February 2-15, 2025. The exercise aims to enhance interoperability in counter-insurgency and counter-terrorism operations and involves the Indian Army and the Maldives National Defence Force (MNDF).

Govt.Schemes:

• The Ayushman Bharat Vay Vandana Scheme was launched in Puducherry on February 14, 2025, by Lieutenant Governor K. Kailashnathan and Chief Minister N. Rangasamy. The scheme provides comprehensive healthcare benefits to senior citizens under the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY).

Important Days:

• World Pangolin Day 2025 was observed on February 15, 2025. The day raises awareness about pangolins, the world's most trafficked mammals, and highlights the threats they face from poaching and trafficking. Conservationists use this day to urge the public to stop buying pangolin products and report illegal wildlife trade.
• International Childhood Cancer Day 2025 was observed on February 15, 2025. This day aims to raise awareness about childhood cancers and the challenges faced by young cancer patients and survivors. The theme for 2025 is "Inspiring Action", focusing on practical solutions and collaborative efforts to overcome barriers in pediatric oncology.

Awards & Honours:

• At the 78th British Academy Film Awards (BAFTAs), the papal thriller "Conclave" won the Best Picture award. The film, directed by Edward Berger and starring Ralph Fiennes, also secured three other awards: Outstanding British Film, Best Editing, and Best Adapted Screenplay
• At the Sportstar Aces Awards 2025, P.R. Sreejesh and Manu Bhaker bagged the top honors as Sportstar of the Year (Male) and Sportstar of the Year (Female), respectively. The awards ceremony took place at the Taj Mahal Palace in Mumbai on February 14, 2025.

Obituaries:

• Noted Bengali vocalist Pratul Mukhopadhyay passed away on February 15, 2025, at the age of 82. He was known for his iconic songs like "Ami Banglay Gan Gai" and "Dinga Bhashao Sagore."
• Veteran Telugu actress and producer C. Krishnaveni passed away on February 16, 2025, at the age of 102. She was known for her pioneering contributions to Telugu cinema and introduced legendary actors like N.T. Rama Rao.

Questions:

1. Which company acquired a 100% stake in Ayana Renewable Power for ₹19,500 crore?
a) Tata Power
b) ONGC NTPC Green Private Limited (ONGPL)
c) Reliance Green Energy
d) Adani Renewables

Answer:b) ONGPL acquired Ayana Renewable Power, expanding its renewable energy portfolio to 4.1 GW.

2.Which Indian athletes won the Sportstar of the Year awards at the Sportstar Aces Awards 2025?
a) Neeraj Chopra & P.V. Sindhu
b) P.R. Sreejesh & Manu Bhaker
c) Virat Kohli & Mithali Raj
d) Rohan Bopanna & Mary Kom

Answer:b)P.R. Sreejesh (Hockey) and Manu Bhaker (Shooting) won the top honors at the Sportstar Aces Awards 2025.