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NATIONAL AFFAIRS
Dr. Arvind Panagariya Launched NITI Aayog’s Inaugural FHI 2025 ; Odisha, Chhattisgarh and Goa Top 3 Performing States 
In January 2025, Dr. Arvind Panagariya, Chairman of 16th Finance Commission (FC) launched the inaugural issue of National Institution for Transforming India (NITI) Aayog’s report titled ‘Fiscal Heath Index (FHI) 2025 for the Financial Year 2022-23 (FY23)’ in New Delhi, Delhi.
- As per the report, Odisha has outperformed all other states with cumulative score of 67.8 out of 100, followed by Chhattisgarh (55.2) and Goa (53.6).
i.The report provides a comprehensive evaluation of the fiscal health of 18 major Indian states that drive the Indian economy in terms of their contribution to India’s Gross Domestic Product (GDP), demography, total expenditure, revenues, and overall fiscal stability.
ii.The report ranked states based on 5 key sub-indices such as: Quality of Expenditure, Revenue Mobilisation, Fiscal Prudence, Debt Index, and Debt Sustainability.
About National Institution for Transforming India (NITI) Aayog:
Chief Executive Officer (CEO) – B.V.R. Subrahmanyam
Headquarters- New Delhi, Delhi
Established in- 2015
>> Read Full News
Uttarakhand, 1st State to Implement Uniform Civil Code
Uttarakhand has become the 1st state in India to implement the Uniform Civil Code(UCC), which came into effect on 27 January 2025. Uttarakhand Chief Minister(CM) Pushkar Singh Dhami launched the UCC portal and issued a notification marking the adoption of the civil code at an event in Dehradun, Uttarakhand.
- The UCC aims to unify personal laws related to marriage, divorce, succession, and inheritance, ensuring equality for all citizens, excluding those from Scheduled Tribes (ST).
Background:
i.On February 7, 2024, the Legislative Assembly of the state of Uttarakhand passed the Uniform Civil Code (UCC) Bill.
ii.On March 13, the bill was granted assent by President Droupadi Murmu to establish a uniform and equal set of rules on personal status law, including marriage, divorce, succession, and inheritance, that applies to all citizens of the state irrespective of religion.
About Uttarakhand:
Chief Minister (CM)– Pushkar Singh Dhami
Governor- Gurmit Singh
Capital- Dehradun
Dams- Tehri Dam, Tumaria Dam, Maneri Dam
>> Read Full News
DGS & C-DAC partner to enhance Maritime Innovation
On January 25 2025, the Directorate General of Shipping (DGS) under the Ministry of Ports, Shipping and Waterways(MoPSW) and the Centre for Development of Advanced Computing (C-DAC), a Scientific Society under Ministry of Electronics and Information Technology (MeitY) signed a Memorandum of Understanding (MoU) to enhance innovation in technology and excellence in India’s maritime sector through advancing maritime administration by latest technologies.
- The MoU was signed by Shyam Jagannathan, Director General(DG) of Shipping and Magesh Ethirajan, Director General (DG) C-DAC in the presence of. S. Krishnan, Secretary, MeitY.
Key People:
The event was also attended by Abhishek Singh, Additional Secretary, MeitY, Sanket S Bhondve, Joint Secretary, MeitY, Sunita Verma, Scientist G & Group Coordinator, MeitY, Savita Utreja, Scientist G, Group Coordinator (Cyber Security) and other Senior officers from MeitY, DG Shipping and C-DAC.
Key Areas of Collaboration
The MoU will involve the integration of C-DAC’s expertise in advanced computing, cybersecurity, Blockchain and e-Governance in various areas,
i.Digitalization and Automation of Maritime Processes: Usage of advanced digital tools and automated systems to simplify the operations and increase efficiency.
ii.Maritime Data Analytics and Predictive Modeling: Advanced data analytics will be used to get deeper understanding of patterns and trends for effective decision-making.
- Predictive modelling will help in identifying possible risks and optimizing operations for a secure maritime ecosystem.
iii.Cybersecurity and Maritime IoT: Cybersecurity systems will be strengthened and critical data from cyber threats will be secured by integrating Internet of Things (IoT) technologies in maritime operations.
iv.Maritime Education and Training: Advanced education and training will be provided to the industry professionals to equip them with the necessary skills required for rapidly changing technological situations.
v.Research and Development in Maritime Technologies: The MoU would also promote research and development (R&D) to enhance innovation in areas like high-performance computing, blockchain, and e-Governance.
About Directorate General of Shipping (DGS):
Director General(DG)- Shyam Jagannathan
Headquarters – Mumbai, Maharashtra
Founded– 1949
About Centre for Development of Advanced Computing (C-DAC):
Director General(DG)– Magesh Ethirajan
Headquarters -Pune, Maharashtra
Founded– 1988
IIA Organizes International Conference in Bengaluru to Mark 125th Anniversary of KSO
In January 2025, The Indian Institute of Astrophysics (IIA), an autonomous institute of the Department of Science and Technology (DST), Ministry of Science and Technology (MoS&T), organized an international conference on the theme, ‘Sun, Space Weather, and Solar-Stellar Connections’ to mark the 125th anniversary of the Kodaikanal Solar Observatory (KSO), from January 20-25, 2025 in Bengaluru(Karnataka).
i.The conference features a well-designed scientific program created by 20 eminent solar astronomers, supported by the Solar Physics group of IIA.
ii.Discussions focus on themes like solar magnetism, energetic solar phenomena, and the heliosphere. The program also highlights new developments in solar astronomy, including the proposed National Large Solar Telescope in Union Territory (UT) of Ladakh.
- Over 200 solar physicists from India and other countries have come together for discussions.
Note: The Kodaikanal Solar Observatory, a part of the IIA and established in 1899, has made significant contributions to solar research.
INTERNATIONAL AFFAIRS
Wetland City Accreditation: Indore & Udaipur became India’s first Ramsar wetland cities
In January 2025, an independent Advisory Committee on Wetland City Accreditation(WCA) of the Ramsar Convention, announced the list of 31 newly accredited Wetland Cities, during its 64th meeting held in Gland, Switzerland. Among the newly accredited cities, Indore (Madhya Pradesh, MP) and Udaipur (Rajasthan) became the first two Indian cities to receive the international accreditation as ‘Wetland Cities’ under Ramsar Convention.
- With this, the total number of accredited Wetland Cities has reached 74.
i.This accreditation was granted by the United Nations Educational, Scientific and Cultural Organization(UNESCO) under the Ramsar Convention.
- It is valid for 6 years to promotes the conservation and sustainable use of urban wetlands, ensuring ecological and socio-economic benefits for local populations.
ii.In December 2024, the Ministry of Environment, Forests, and Climate Change (MoEF&CC) , Government of India (GoI), nominated three Indian cities: Indore, Udaipur, and Bhopal (MP).
>> Read Full News
BANKING & FINANCE
DFS Releases Rs 500 Crore Capital Infusion into IFCI through PREF
In January 2025, Department of Financial Services (DFS) under the Ministry of Finance (MoF) has released Rs 500 crore capital infusion to New Delhi (Delhi) based IFCI Limited (formerly known as the Industrial Finance Corporation of India), a development finance institution (DFI) for subscribing to its share capital in the Financial Year 2024-25(FY25) through the Preferential Issue (PREF) of shares.
- This infusion is aimed at strengthening IFCI’s financial health in preparation for its upcoming restructuring and consolidation into a larger group.
Background:
i.The capital infusion plan for IFCI was approved with the first Supplementary Demand for Grants for FY 25 in the Lok Sabha in December 2024.
- In January 2025, the DFS received approval from the President of India, Droupadi Murmu to release Rs. 500 crore to IFCI Ltd.
ii.With this infusion, the Government of India (GoI) is expected to increase its holding in the company beyond the current 71.72% as of September 2024.
Preferential Issue (PREF):
A preferential issue is when a company issues shares or convertible securities to a specific group of investors, rather than through a public offering.
- This method is often used to raise capital and can involve offering shares to existing shareholders, venture capitalists, or strategic partners.
Note: In November 2024, MoF has given in-principle approval for the ‘Consolidation of IFCI Group,’ which involves the merger or amalgamation of IFCI Limited, StockHolding Corporation of India Limited, and other group companies.
About IFCI Limited:
It is the first development financial institution (DFI) in India
Deputy Managing Director (DMD) – Rahul Bhave
Headquarters – New Delhi, Delhi
Established – 1948
CheQ Launches ‘CheQ Wisor’, India’s First AI-Powered Credit Card Expert
In January 2025, CheQ Digital Private Limited, a fintech company based in Bengaluru(Karnataka), introduced ‘Cheq Wisor’, India’s first Artificial Intelligence (AI)-powered credit card expert.
- Cheq Wisor works by using AI to provide instant, human-like responses to users’ credit card questions through a simple chat interface, removing the need to search for information, and analyze expenses by category.
i.It is designed to simplify credit card management, making it easier for millions of Indians to manage their cards, earn rewards, and get personalized insights, all through an easy-to-use platform.
ii.It also offers a Smart Spend Analysis feature that compares spending across all credit cards and merchants in one view. This helps users track spending trends, understand monthly change.
Note: CheQ, founded by Aditya Soni in 2021, has processed over USD 4 billion in credit card payments and served more than 3 million customers.
AWARDS & RECOGNITIONS
Padma Awards 2025: President approves 139 Padma Awards; List includes 7 Padma Vibhushan, 19 Padma Bhushan and 113 Padma Shri 
On January 25 2025, Ministry of Home Affairs (MHA) announced the Padma Awards for 2025. The official list released comprises 7 Padma Vibhushan, 19 Padma Bhushan and 113 Padma Shri Awards.
Eminent Personalities honoured with the Padma Vibhushan:
i.Justice (Retd.) Jagdish Singh Khehar, former Chief Justice of India (CJI), Dr. D Nageshwar Reddy, founder and chairman of (Hyderabad)Telangana-based AIG Hospitals. Former President, Chairman and Chief Executive Officer (CEO) of Japan based Suzuki Motor Corporation (SMC), Osamu Suzuki conferred the Padma Vibhushan posthumously in ‘trade and industry’ category
ii.Other distinguished personalities bestowed with Padma Vibhushan: famous Kathak dancer, Kumudini Rajnikant Lakhia from Gujarat; Renowned Malayalam writer and Jnanpith winner MT Vasudevaan Nair (Posthumous), from Kerala and Sharda Sinha (Posthumous), famous folk singer from Bihar.
Eminent Personalities honoured with Padma Bhushan:
i.Renowned economist Bibek Debroy who served as Chairman of Economic Advisory Council to Prime Minister (EAC-PM) and Sushil Kumar Modi, former Deputy Chief Minister (Dy CM) of Bihar; and Manohar Joshi, former CM of Maharashtra (from 1995-1999), were posthumously honoured with award.
ii.Distinguished recipients of Padma Bhushan award include: famous Tamil Actor S. Ajith Kumar, Ghazal singer Pankaj Udhas (Posthumous), renowned filmmaker Shekhar Kapur, among others.
About Ministry of Home Affairs (MoHA):
Union Minister- Amit Shah (Constituency- Gandhinagar, Gujarat)
Minister of State (MoS)- Nityanand Rai(Constituency- Ujiarpur, Bihar); Bandi Sanjay Kumar (Constituency- Karimnagar, Telangana)
>> Read Full News
Indian short film ‘Anuja’ nominated for 97th Academy Awards 2025
In January 2025, the Indian short film ‘Anuja’, received a nomination in the ‘Best Live Action Short Film’ category for the 97th Academy Awards 2025.
- The film is backed by Indian actress Priyanka Chopra and producer Guneet Monga as executive producer, with Hollywood star-writer Mindy Kaling as producer.
- This marks Guneet Monga’s third Oscar nomination, after ‘The Elephant Whisperers’ and ‘Period: End of Sentence’, both of which won Academy Awards.
i.Written and directed by Adam J. Graves, Anuja is about a young girl working in a Delhi garment factory who must make a life-changing choice for her family’s future.
ii.This nomination puts Anuja among five finalists chosen from an initial pool of 180 qualifying films. It will compete against A Lien, I’m Not a Robot, The Last Ranger, and The Man Who Would Not Remain Silent.
iii.The film also won the top honor at the HollyShorts Film Festival in 2024.
Note: The 97th Academy Awards 2025, hosted by Conan O’Brien, will take place at Dolby Theatre in Los Angeles, United States of America (USA) on March 2, 2025.
The ePlane Company Becomes India’s First to Secure DGCA’s eVTOL Certification
In January 2025, The ePlane Company, a Chennai-based urban air mobility (UAM) startup at Indian Institute of Technology(IIT) Madras in Chennai(Tamil Nadu,TN) has become the first private Indian firm to receive formal acceptance from the Directorate General of Civil Aviation (DGCA) for Type Certification of its electric Vertical Take-Off and Landing (eVTOL) aircraft, ‘the e200X’.The company plans to launch its eVTOL services by 2026.
- With this certification, ePlane strengthens its position as a pioneer in Advanced Air Mobility (AAM) in India.
i.The e200X has a compact wingspan that reduces infrastructure requirements, making it suitable for various regions in India and similar global markets.
ii.The ePlane Company was founded by professor Satya Chakravarthy in 2019.
Note: The DGCA has established safety criteria for certifying vertical take-off and landing capable aircraft (VCA) and set guidelines for the design of vertiports used by these aircraft.
APPOINTMENTS & RESIGNATIONS
IDBI Bank Re-appoints Rakesh Sharma as MD & CEO for 3 years
In January 2025, Mumbai (Maharashtra) based IDBI Bank Limited has reppointed Rakesh Sharma as Managing Director (MD) and Chief Executive Officer (CEO) of the bank for three years with effect from March 19 2025.
- The decision, approved by the Board of Directors after receiving approval from the Reserve Bank of India (RBI).
i.In 1980, he started his career at the State Bank of India (SBI) as Chief General Manager (CGM). Later, he moved to Lakshmi Vilas Bank Limited, where he served as MD & CEO from March 2014 to September 2015.
ii.He joined Canara Bank as MD & CEO in September 2015 and led the organization for three years before retiring in July 2018.
iii.In October 2018, he became the MD & CEO of IDBI Bank, a role he held until his reappointment.
iv.He currently serves as the President of the Governing Body at the Entrepreneurship Development Institute of India (EDII) and is a member of the Managing Committee of the Indian Banks’ Association (IBA).
Note: The reappointment comes as IDBI Bank’s promoters — Life Insurance Corporation of India (LIC), holding 49.24%, and the Government of India (GoI), with 45.48% — work to reduce their stakes.
ICC Chairman Jay Shah Elected as New Member of Marylebone Cricket Club
In January 2025, Jay Shah, chairman of International Cricket Council (ICC) was elected as the board member of the London (the United Kingdom, UK)-based Marylebone Cricket Club (MCC) advisory board.
- Jay Shah is among the 13 founding members of the newly formed advisory board of World Cricket Connects (WCC), which will be chaired by former Sri Lanka skipper and MCC president Kumar Sangakkara.
i.The new advisory board replaced the World Cricket Committee (WCC), which was constituted in 2006.
ii.Other founding members of new advisory board:
- Anurag Dahiya, Chief Commercial Officer (CCO) of ICC;
- Chris Dehring Chief Executive Officer (CEO) of Cricket West Indies (CWI);
- Sourav Ganguly, former Captain of Indian Men’s Cricket Team and former President of Board of Control for Cricket in India (BCCI);
- Graeme Smith, former South Africa Captain;
- Andrew Strauss, former England Captain and Director of England Cricket Board (ECB);
- Sanjog Gupta, CEO of JioStar-Sports;
- Heath Mills, Executive chair at World Cricketers’ Association;
- Trudy Lindblade, CEO of Cricket Scotland;
- Heather Knight, Women’s Captain of England;
- Mel Jones, Former Australia International and current broadcaster
- Imtiaz Patel, former chair of SuperSport
Note: MCC announced that the 2nd WCC forum will be held from June 7 to June 8, 2025, ahead of the World Test Championship (WTC) final at Lord’s Cricket Ground in London, the UK.
ACQUISITIONS & MERGERS
KMBL Completed Acquisition of StanChart’s Personal Loan Portfolio for Rs 3,330 Crore
In January 2025, Mumbai (Maharashtra)-based Kotak Mahindra Bank Limited (KMBL), a leading Indian private sector bank announced that it has completed the acquisition of Rs 3,330 crore personal loan book of Mumbai based Standard Chartered Bank(SCB), India, following the approval from Competition Commission of India (CCI).
- In October 2024, KMBL signed an agreement to acquire the personal loan book of Standard Chartered Bank, India for Rs 4,100 crore to strengthen its position in the retail credit market.
i.This acquisition includes all personal loans classified as standard advances.
ii.The personal loans are part of unsecured retail loans, which include retail microcredit had 10.5% share in net advances of KMB at the end of December 2024.
OBITUARY
Renowned Cardiac Surgeon & Padma Shri Awardee Dr. K. M. Cherian passed away
On January 25 2025, a renowned Cardiac Surgeon and Padma Shri Awardee, Dr Kotturathu Mammen Cherian, who performed India’s 1st coronary artery bypass surgery passed away at the age of 82 in Bengaluru, Karnataka. He was born on 8 March 1942 in the Kingdom of Travancore (now Travancore-Cochin), Kerala.
- He has won numerous awards including the ‘Padma Shri’ award.
About Dr Kotturathu Mammen Cherian:
i.Dr. K.M. Cherian, a pioneering cardiac surgeon, began his career with a Master of Surgery (MS) from Kasturba Medical College (KMC), Mangaluru in 1964.
- In 1968, he performed his first open heart surgery at the age of 26 in Australia.
ii.In 1973, he became a Fellow of the Royal Australasian College of Surgeons in Cardiothoracic Surgery.
iii.In 1975, he performed India’s 1st successful coronary artery bypass graft (CABG) surgery, at Southern Railway Headquarters hospital, Perambur, Chennai(Tamil Nadu, TN).
- He was recognized as an honorary surgeon to the President of India from 1990 to 1993.
- He also introduced the Physician Assistant profession to India in 1992.
iv.He performed India’s 2nd Heart Transplant surgery in 1995 and India’s 1st Heart-Lung transplantation(HLT) surgery, Pediatric Cardiac Surgery and the Laser heart surgery, transmyocardial revascularization (TMR).
v.In 2004, he founded Frontier Lifeline Hospital and the Dr. Cherian Heart Foundation in Chennai.
v.In 2010, he became the 1st Indian to be designated as President of the World Society of Cardio Thoracic Surgeons(WSCTS).
vi.In May 2016, he was selected to be a member of the “Founder Circle” of the American Association for Thoracic Surgery.
Awards and Honors:
i.In 1991, he was honored with the ‘Padma Shri’, India’s 4th highest civilian award for his exceptional work in the medical field.
ii.In 2000, he received a ‘Lifetime Achievement Award’ from Kasturba Medical College (KMC), Manipal for his contributions in the field of cardiothoracic surgery in India.
iii.In 2005, he received a ‘Harvard Medical Excellence Award’, recognizing his professional development and career advancement.
BOOKS & AUTHORS
A new biography ‘Soumitra Chatterjee and His World (Vintage)’ Released in WB
“Soumitra Chatterjee and His World” is a comprehensive biography, written by journalist Sanghamitra Chakraborty, was released during the Kolkata Literary Meet in West Bengal(WB). It was published by Penguin India’s Vintage Books.
- The book delivers the multifaceted life of Soumitra Chatterjee, a renowned Indian and Bengali film actor celebrated for his collaboration with filmmaker Satyajit Ray and his contributions to Indian cinema and culture.
- It explores his work as an actor, poet, editor, and artist, offering insights into the cultural landscape of Bengal.
About Soumitra Chatterjee:
i.Soumitra Chatterjee was born in 1935 at Kolkata,West Bengal and died in 2020.
ii.Chatterjee starred in 14 Ray films, including the iconic Apur Sansar (The World of Apu), Sonar Kella (The Golden Fortress), Joy Baba Felunath (The Elephant God), Devi (The Goddess), Charulata (The Lonely Wife), Ghare Baire (The Home and the World).
iii.His iconic characters, like Apu and Feluda, are well-known among Bengalis and cinephiles.
iii.Soumitra was the first Indian film personality who was conferred with France’s highest award for artists ‘Commandeur’ of, Ordre des Arts et des Lettres (1999).
- He was also awarded the Padma Bhushan (2004) ,two National Film Awards(2007 and 2017) and the Dadasaheb Phalke Award(2012), India’s highest award in cinema.
IMPORTANT DAYS
International Day of Clean Energy 2025 – January 26
The United Nations (UN’s) International Day of Clean Energy is observed annually on 26 January across the globe to raise awareness and encourage action toward a fair and inclusive transition to clean energy, benefiting both people and the planet.
- 26th January 2025 marks the observance of the 2nd International Day of Clean Energy.
Background:
i.On January 26, 2023, the United Nations General Assembly (UNGA) declared the International Day of Clean Energy through resolution A/77/327, recognizing the need to accelerate the global transition to clean and sustainable energy.
ii.The 1st-ever International Day of Clean Energy was celebrated 26th January 2024.
About International Renewable Energy Agency (IRENA):
Director-General(DG) – Francesco La Camera
Headquarters -Abu Dhabi, the United Arab Emirates(UAE)
Founded – 2009
>> Read Full News
International Customs Day 2025 – January 26
International Customs Day (ICD) is observed annually on January 26 across the globe to highlight the vital role of customs officials and customs agencies in maintaining security, trade compliance, and major anti-smuggling achievements. This day also commemorates the inaugural session of the Customs Cooperation Council (CCC) (now World Customs Organization, WCO) held in Brussels, Belgium in 1953.
- 26 January 2025 marks the 72nd anniversary of WCO, an intergovernmental body dedicated to enhancing customs administrations worldwide.
- The theme for ICD 2025 is “Customs Delivering on its Commitment to Efficiency, Security, and Prosperity.”
Background:
i.The CCC was established in 1952 as an intergovernmental body to improve the efficiency of customs administrations around the globe.
ii.On December 26, 1983, the Customs Cooperation Council (CCC), celebrated the 1st International Customs Day (ICD) to commemorate the 30th anniversary of its founding.
iii.In 1994, the CCC became a global organization and was renamed the WCO, expanding its membership to 183 countries, which now manage 98% of global trade.
About World Customs Organization (WCO):
Secretary-General– Ian Clifton Saunders (the United States of America, USA)
Headquarters– Brussels, Belgium
Established- 1952
>> Read Full News
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