Current Affairs 16 & 17 February 2025

We are here for you to provide the important Recent and Latest Current Affairs 16 & 17 February 2025, which have unique updates of Latest Current Affairs 2025 events from all newspapers such as The Hindu, The Economic Times, PIB, Times of India, PTI, Indian Express, Business Standard and all Government official websites.

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NATIONAL AFFAIRS

Panchayati Raj Devolution Index 2024: Karnataka Tops, Followed by Kerala & TNOn February 13, 2025, Union Minister of State(MoS), S.P. Singh Baghel, Ministry of Panchayati Raj (MoPR), Ministry of Fisheries, Animal Husbandry and Dairying (MoFAH&D) released the comprehensive Devolution Index Report titled “Status of Devolution to Panchayats in States – An Indicative Evidence-Based Ranking 2024” at the Indian Institute of Public Administration (IIPA), New Delhi (Delhi).

• As per the report, Karnataka ranked 1st in the devolution of power to panchayats, excelling in terms of funds, functions, and functionaries, followed by Kerala, Tamil Nadu (TN), Maharashtra, and Uttar Pradesh (UP).
• The report was prepared by the IIPA and assessed 31 states and Union Territories (UTs), sampling 172 Panchayats across 68 districts, with a total of 1,594 respondents interviewed.

What is the Devolution Index?
i.The Devolution Index is the result of thorough research and empirical analysis, offering insights into decentralization progress across States and UTs.
ii.The Index evaluates 6 critical dimensions: Framework, Functions, Finances, Functionaries, Capacity Building, and Accountability of Panchayats.
About Indian Institute of Public Administration (IIPA):
President – Jagdeep Dhankhar(Vice President of India)
Headquarters – New Delhi, Delhi
Established – 1954
>> Read Full News

DoT & CDRI Unveiled Roadmap to Strengthen India’s Telecom ResilienceIn February 2025, the Department of Telecommunications (DoT), Ministry of Communications (MoC), in partnership with the Coalition for Disaster Resilient Infrastructure (CDRI) unveiled a comprehensive report on Disaster Risk and Resilience Assessment Framework (DRRAF). This marks a significant step towards strengthening India’s telecom sector against disasters.

• The report was launched as part of a comprehensive study on National and Sub-national Disaster Risk & Resilience Assessment for the Telecommunication sector by CDRI.

i.The study was conducted across 5 Indian states: Assam, Odisha, Tamil Nadu (TN), Uttarakhand, and Gujarat, which focuses on disaster risks and resilience strategies specific to the telecom sector.
ii.The study carried out a multi-hazard risk assessment across 0.77 million telecom towers. It mapped risks from floods, cyclones, earthquakes, and other disasters.
iii.A disaster risk and resilience index has been developed to examine the vulnerability of telecom infrastructure based on factors like: disaster intensity, frequency, and impact.
About Coalition for Disaster Resilient Infrastructure (CDRI):
Prime Minister (PM) Narendra Modi announced the launch of CDRI at the United Nations Climate Action Summit held in New York, the United States of America (USA) on 23rd September, 2019. It is an international collaboration of 49 members dedicated to climate and disaster resilient infrastructure solutions.
Director-General (DG)- Amit Prothi
Headquarters- New Delhi, Delhi
>> Read Full News

Ministry of Ayush & DoSJE Sign MoU to Boost Geriatric Healthcare
On February 12, 2025, the Ministry of Ayush (Ayurveda, Yoga and Naturopathy, Unani, Siddha, and Homoeopathy) signed a Memorandum of Understanding (MoU) with the Department of Social Justice and Empowerment (DoSJE) under the Ministry of Social Justice and Empowerment (MoSJE) in New Delhi (Delhi).

• The MoU aims to implement Ayush-based interventions to enhance geriatric healthcare and address substance abuse.
• It marks a milestone in India’s healthcare journey, blending the strengths of Ayush systems with social justice initiatives to foster a healthier and more inclusive society.

Key Signatories: The MoU signing ceremony was attended by Union Minister of State (MoS) (Independent Charge, IC) Prataprao Ganpatrao Jadhav, Ministry of Ayush; Union MoS Banwari Lal Verma, MoSJE; Vaidya Rajesh Kotecha, Secretary of Ministry of Ayush; Amit Yadav, Secretary of DoSJE and other distinguished officials.
Highlights:
i.Geriatric healthcare and substance abuse are vital areas that require focused attention, especially to help an aging population lead a healthy life.
ii.The MoU improves the health and well-being of senior citizens, with both ministries working together on initiatives such as awareness programs, training for service providers, and setting up geriatric health and de-addiction units under Ayush autonomous bodies.
Key Objectives of the MoU:
i.Cooperative Efforts: The Ministry of AYUSH and DoSJE will work together to create innovative initiatives that promote senior citizens’ health, reduce drug demand, tackle substance abuse, and support mental rehabilitation.

• This will be done through awareness programs and training service providers using AYUSH systems.

ii.Research Promotion: Promoting research in geriatric health, substance abuse, and mental health, with an emphasis on exploring the therapeutic benefits of traditional healthcare practices.
iii.Health Promotion Activities: Supporting health promotion activities specifically designed for the elderly and individuals struggling with substance abuse.
About Ministry of Ayush:
Minister of State (MoS) (Independent Charge, IC) – Prataprao Ganpatrao Jadhav
(Constituency – Buldhana, Maharashtra)
Headquarters – New Delhi
Founded – 2014

BANKING & FINANCE

SEBI Launched ‘RPT Portal’ to Strengthen Corporate Governance and TransparencyOn February 14 2025, the Securities and Exchange Board of India (SEBI) launched ‘Related Party Transaction (RPT) portal’, India’s 1st dedicated platform to monitor and analyse RPTs. The portal also aims to bolster transparency and governance in corporate India.

• The portal enables a wide range of stakeholders to access standardized and comparable data on RPTs.

Note:RPT is a transaction between related parties which involves transfer of resources, services or obligations between them regardless of whether a price is charged.
Key Points:
i.SEBI clarified that executive compensation will be covered under RPTs, which means that promoters of companies can reward themselves without shareholder approval.
ii.The portal will compile comprehensive information on RPTs, including shareholding voting patterns from the last 2 years, which will enable the investors and other entities to make well-informed decisions.

• Also, by compiling such data in a single platform, the initiative will fix information gaps and enhance corporate governance practices in India.

iii.The portal will be maintained by 3 proxy advisories Bengaluru (Karnataka)-based InGovern Research Services Private Limited, Mumbai (Maharashtra)-based Institutional Investor Advisory Services India Limited (IiAs) and Mumbai based Stakeholders Empowerment Services (SES).
iv.It will help investors to track RPTs and access opinions on such transactions.

• Retail investors will now have access to this information, which was previously limited to institutional investors.

SEBI Announced Approval of New RPT Disclosures by ISF
In February 2025, Madhabi Puri Buch, Chairperson of SEBI announced that new RPT disclosure standards have been approved by the Industry Standards Forum (ISF). These new standards aimed to ensure more transparency and protect investors.
i.The new standards will require listed companies to provide more detailed information like: what are the minimum disclosures the companies would have to make when they take an RPT for approval, both by shareholders and audit committees (in certain cases).
ii.Also, the standards will outline the minimum disclosures required when you go to the shareholders for approval.
About Industry Standards Forum (ISF):
It is a SEBI-established group of representatives from different industry sectors. The main objective of ISF is to develop and set standards for implementing regulatory guidelines within their respective sectors.
Chairman- Kundapur Vaman (K.V.) Kamath
Established- 2023

RBI Imposes Restrictions on New India Co-operative Bank on Supervisory ConcernsIn February 2025, the Reserve Bank of India (RBI) imposed restrictions on Mumbai (Maharashtra)-based New India Co-operative Bank Limited from issuing new loans and suspended deposit withdrawals amid supervisory concerns about its financial position.

• These restrictions were issued by the RBI under Section 35A of the Banking Regulation Act, 1949 to protect the interest of depositors.
• These restrictions came into force on February 13, 2025 and will remain in force for a period of 6 months, but they are subject to a future review by the RBI.

Key Directions:
i.As per the RBI directions, the bank does not have power/authority to grant or renew any loans or advances, make any new investments or accept new deposits without the prior approval from the RBI.

• But, RBI has permitted loan set-offs against deposits under specific terms and conditions.

ii.It has also allowed bank to incur essential expenses such as employee salaries, rent, and electricity bills.
ii.RBI informed that eligible depositors will receive a deposit insurance claim of up to Rs 5 lakh for their deposits from the Deposit Insurance and Credit Guarantee Corporation (DICGC), as applicable under the provisions of the DICGC Act, 1961.
RBI Superseded BoDs of New India Co-operative Bank for 12 Months:
The RBI in exercise of the powers given under Section 36 AAA read with section 56 of the Banking Regulation Act, 1949 (as applicable to Co-operative Societies) has superseded the Board of Directors (BoDs) of New India Co-operative Bank for a period of 12 months, to address its governance issues.

• It has appointed Shreekant, a former Chief General Manager (CGM), State Bank of India (SBI) as the administrator to manage the bank’s affairs.
• It has also formed a committee of advisors to assist him, including Ravindra Sapra, former General Manager (GM) of SBI and Abhijeet Deshmukh, Chartered Accountant (CA).
• The primary function of the committee is to examine the financial situation, stabilize operations, and work towards the revival of the bank.

About New India Co-operative Bank Limited:
It was initially established as Bombay Labour Co-operative Bank Limited in 1968. Later, it was renamed as the New India Co-operative Bank Limited in 1977.
Headquarters- Mumbai, Maharashtra

NPCI Introduced New UPI Rule on Automatic Acceptance, Rejection of Charge Backs from February 15, 2025In February 2025, Mumbai (Maharashtra)-based National Payments Corporation of India (NPCI) has introduced a new rule for managing charge backs in Unified Payments Interface (UPI) transactions.

• As per new UPI rule, charge backs will now be automatically accepted or rejected based on Transaction Credit Confirmation (TCC) and Return Requests (RET) raised by the beneficiary banks in the next settlement cycle after the charge back has been started.
• The new above mentioned facility is implemented in UPI Dispute Resolution System (URCS) with effect from February 15, 2025.

Note: A charge back is a process which reverses a completed UPI transaction due to disputes, fraud or technical error. This reversal of UPI transaction is initiated by the payer’s bank, and if approved, the transaction amount is returned to the payer.
Need for Introducing New Mechanism:
i.At present, remitting banks can start charge backs from ‘T+0’ onwards in URCS due to which beneficiary banks are not getting sufficient time to reconcile transactions, leading to rejected RET.
ii.While, in some cases, charge backs are closed automatically with a deemed acceptance which resulted in penalties imposed by the Reserve Bank of India (RBI).
Key Highlights of New Mechanism:
i.The new UPI rule is applicable only to bulk upload options and Unified Dispute Resolution Interface (UDIR), and will not include front-end dispute resolution options.
ii.Now, Beneficiary banks will have an opportunity to reconcile transactions efficiently before charge backs are deemed approved.
About National Payments Corporation of India (NPCI):
It is an organisation that regulates the retail payment and settlement system in India. It was launched as a joint initiative of RBI and India Banks’ Association (IBA).It was set up under the provisions of Payment and Settlement Systems (PSS Act, 2007).
Managing Director (MD) and Chief Executive Officer (CEO) – Dilip Asbe
Headquarters- Mumbai, Maharashtra
Established- 2008

RBI Extends Vakrangee’s WLA Authorization till March 2026
On February 12, 2025, the Reserve Bank of India (RBI) granted an extension to the Mumbai (Maharashtra) based Vakrangee Limited authorization to set up, own, and operate White Label ATMs (WLAs) across India until March 31, 2026.

• As of January 31, 2025, Vakrangee operates 6,036 WLAs and 76% of these are in Tier 4 and Tier 6 locations, aimed at enhancing financial accessibility in the unserved & underserved areas.

i.Vakrangee Limited offers a wide range of services, including banking, insurance, e-governance, e-commerce, and logistics solutions.
ii.In addition, Vakrangee operates 22,395 Vakrangee Kendra outlets, with 81% of these located in Tier-4 to Tier-6 areas.
iii.Vakrangee aims to achieve a revenue of USD 1 billion and a gross transaction value of USD 150 billion by 2030.
Note: As of December 2024, the Life Insurance Corporation of India (LIC) held a 4.41% stake in Vakrangee Limited.

RBI Removes Regulatory Barriers on Kotak Mahindra Bank
In February 2025, Mumbai based Reserve Bank of India (RBI) removed the restrictions placed on Kotak Mahindra Bank (KMB) Limited, headquartered in Mumbai, Maharashtra, allowing KMB to resume onboarding new customers digitally and issuing new credit cards.
i.The RBI imposed restrictions on April 24, 2024, under section 35A of Banking Regulation Act, 1949, after identifying serious Information Technology (IT)-related regulatory violations, including deficiencies in IT inventory management, security protocols and disaster recovery measures.
ii.These restrictions had prevented the bank from adding new customers through online and mobile banking and from issuing new credit cards.
iii.To resolve these issues, KMB took corrective measures and submitted compliance reports,conducted an external audit with RBI’s approval.After reviewing the bank’s improvements and compliance efforts, the RBI decided to lift the restrictions.
iv.As a result the “cease and desist” directive has been lifted for all banks and non-banking financial companies (NBFC), except for Paytm Payments Bank.

RBI Approves Zulia Investments to Increase Stake in AU SFB
In February 2025, Mumbai, Maharashtra based The Reserve Bank of India (RBI) permitted Zulia Investments Pte. Ltd., a subsidiary of Singapore-based Temasek Holdings (Private) Limited, to raise its stake in Jaipur (Rajasthan)-based AU Small Finance Bank (SFB) to 7%.
i.On February 12, 2025, AU SFB received an RBI letter approving Zulia and its associated entities to acquire up to 7% of the bank’s paid-up capital or voting rights within one year.
ii.If the acquisition is not completed by February 12, 2026, the approval will lapse.
iii.Currently, Zulia holds a 1.37% stake in AU SFB, while foreign institutional and portfolio investors own 39.35%.

• If Zulia increases its stake, it could become the largest foreign investor in the bank.

Note: AU SFB, which began operations in April 2017, focuses on providing credit to retail customers and MSMEs (Micro, Small, and Medium Enterprises) while offering deposit and branch banking services.

IFC Invested Rs 860 Crore in India’s 1st SLB in Road Sector Issued by Cube InvIT
In February 2025, Washington (the United States of America, USA)-based International Finance Corporation (IFC), the private sector arm of the World Bank Group (WBG), has invested Rs 860 crore (nearly USD 98.35 million) in India’s 1st Sustainability-linked Bond (SLB) in the road sector, issued by Noida (Uttar Pradesh, UP)-based Cube Highways Trust (Cube InvIT(Infrastructure Investment Trust)).

• This investment by IFC aims to improve critical road infrastructure and strengthen climate resilience in highway development in India.

i.This SLB will fund the acquisition of NAM Expressway Limited (NAM), a strategic highway connecting Chennai(Tamil Nadu, TN) and Hyderabad(Telangana), and support Cube InvIT’s long-term corporate goal, including sustainability and inclusion initiatives.
ii.Cub InvIT raised this investment through long-term non-convertible debentures issued at a 7.67% coupon. These debentures have a tenor of 17 years and 10 months, with an anchor portion of Rs 258 crore.
iii.IFC’s investment will mobilize additional capital, promoting advancements in India’s road infrastructure while upholding international Environment, Social, and Governance (ESG) standards.
Note: Cube InvIT is an irrevocable trust established under the Indian Trusts Act, 1882 and registered with the Securities and Exchange Board of India (SEBI) as an InvIT.

Exim Bank to Provide USD 300 Million Credit to Vietnam for Procurement of Guard Boats and Patrol Vessels
In February 2025, Mumbai (Maharashtra)-based Export Import Bank of India (EXIM Bank) announced that it will provide lines of credit worth USD 300 million to Vietnam for buying high-speed boats and offshore patrol vessels.

• In July 2024, the EXIM Bank had signed an agreement with the Government of the Socialist Republic of Vietnam (GO-VNM), for making available to the latter, the Government of India (GoI) had pledged to provide Line of Credit (LoC) of USD 180 million for procurement of 4 Offshore Patrol Vessels (OPV).

i.The bank had also signed an agreement with GO-VNM for making available to the latter, GoI had committed to provide LoC of USD 120 million for procurement of high speed guard boats.
ii.Both agreements are effective from January 20, 2025 and the last date for disbursement will be 60 months after the scheduled completion date of the project.

Decentro Launched India’s 1st Self-Hosted CKYC Solution to Align with CERSAI’s New Compliance Mandate
In February 2025, Bengaluru (Karnataka)-based Decentro Tech Private Limited, a leading fintech infrastructure platform, has launched India’s 1st completely compliant, self-hosted Central Know Your Customer (CKYC) solution.

• This will enable financial institutions to seamlessly switch to the new Central Registry of Securitisation Asset Reconstruction and Security Interest of India (CERSAI) compliance framework.

i.This new offering will remove the dependency on 3rd-parties, allowing banks, Non-Banking Financial Companies (NBFCs), and insurers to onboard customers faster while ensuring regulatory compliance.
ii.Some of the key benefits of this new innovation are: 80% faster processing; 75% lower compliance costs, and zero vendor dependencies.
About CERSAI:

• CERSAI was established under Section 20 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act (SARFAESI Act, 2002).
• CERSAI was incorporated as a company under Section 25 of the Companies Act, 1956. The Government of India(GoI) holds a 51% share in the company.

ECONOMY & BUSINESS

MSCI Equity Indexes February 2025: HMIL Included, AGEL RemovedIn February 2025, the United States of America (USA) based Morgan Stanley Capital International Incorporation (MSCI), a leading service provider for the global investment community announced the MSCI Equity Indexes February 2025 Index Review.The review revealed that Gurugram (Haryana) based Hyundai Motor India Limited (HMIL) has been added to the MSCI Emerging Markets (EM) Index, and also to the MSCI India Domestic Index, while Ahmedabad (Gujarat) based Adani Green Energy Limited (AGEL) has been removed from the index.

• The changes will be implemented around February 28, 2025, and will take effect from March 3, 2025.
• With this, India’s weight in the index increases to 19%, up from 18.8% in the previous review.

Note: Hyundai Motor is the only large-cap stock which has been added to the list.
Highlights:
i.United Airlines Holdings, Inc. (the USA), Reddit A (the USA), and Natera Inc.,(the USA) will be the three largest additions to the MSCI All-Country World Index (ACWI) based on their full company market capitalization.

• 23 securities will be added and 107 securities will be deleted from the MSCI ACWI.

ii.Emaar Developments (the United Arab Emirates, UAE) and J&T Global Express Limited (China) are added to the MSCI EM Index.
iii.Indian Stocks Added: 20 Indian stocks added to the MSCI India Domestic Small Cap Index are Afcons Infrastructure Limited, Akums Drugs and Pharmaceuticals Limited, Allied Blenders & Distillers Limited, Ask Automotive Private Limited, Black Box Limited, Cartrade Tech Limited, E2E Networks Limited, Jyoti CNC Automation Limited, Kovai Med Center and Hospital Limited, Manorama Industries Limited, Niva Bupa Health Insurance, Ola Electric, Pearl Global, Shaily Engineering, Sundaram Clayton, TBO Tek, V2 Retail, Websol Energy and Zaggle Prepaid.
iv.Indian Stocks excluded: 17 stocks excluded are Advanced Enzyme, Bajaj Hindusthan Sugar, Balmer Lawrie, Bharat Bijlee, DCB Bank, Fineotex Chemical, Jai Corp, Jamna Auto, La Opala, Magellanic Cloud, Mahindra Logistics, Sanghvi Movers, Shivalik Bimetals, Spandana Sphoorthy, Sula Vineyards, Sun Pharma Advanced and West Coast Paper Mills.
v.8 Indian stocks weight have been raised 9 Indian stocks weight have been reduced.
About MSCI Emerging Markets (EM) Index:
i.The MSCI Emerging Markets Index tracks the performance of growing economies around the world.
ii.It includes large and mid-cap companies from 24 Emerging Markets (EM) countries.
iii.With 1,251 constituents, the index covers 85% of the free-float-adjusted market capitalization in each of these countries.

AWARDS & RECOGNITIONS

Sportstar Aces Awards 2025: PR Sreejesh, Manu Bhaker Bagged Top Honours “Sportstar of the Year Male & FemaleOn February 14, 2025, the 7th edition of the “Sportstar Aces Awards 2025” was held at the Taj Mahal Palace in Mumbai, Maharashtra. The event celebrated exceptional achievements in Indian sports, honoring the winners across 24 distinct categories.The awards recognized the remarkable contributions and accomplishments of athletes, coaches, and organizations that have significantly impacted Indian sports.

• Indian hockey legend, Parattu Raveendran (PR) Sreejesh won the Sportstar of the Year 2025 (Male), while Manu Bhaker won the Sportstar of the Year 2025 (Female) and also the Sportswoman of the Year (Olympic Sport) repectively.
• The event featured 5 Popular Choice Awards and 16 Jury Awards, with over 2 lakh votes cast for the Popular Choice categories.
• This year 2025, 2 special awards: ‘Special Recognition Gamechanger 2025’ and ‘Inspirational Icon Award 2025’ were presented.

i.Pusarla Venkata Sindhu was honored with the “Inspirational Icon Award 2025” recognizing her exceptional achievements and unwavering dedication to the sport of Badminton.
ii.Jay Shah, Chairman of the International Cricket Council (ICC), was honored with the ‘Special Recognition Game Changer Award 2025’ in recognition of his transformative contributions to Indian cricket and the sport globally.
iii.Mukesh Ambani’s Mumbai (Maharashtra) based Reliance Industries Limited (RIL) received the award, recognizing their significant contributions to sports development.
iv.The “Chairperson’s Award for Sports for Social Good 2025” Chairperson’s Award for Sports for Social Good 2025 was presented to Downtown Heroes FC, a football club based in Srinagar, Jammu & Kashmir (J&K).
>> Read Full News

NTPC Limited Conferred with Forward Faster Sustainability Award 2025 for Water Resilience
In February 2025, NTPC Limited (formerly known as National Thermal Power Corporation Limited), an Indian ‘Maharatna’ Central Public Sector Undertaking (PSU) which works under the Ministry of Power (MoP), has been conferred with Forward Faster Sustainability Award 2025 in the category of ‘Water Resilience’, in recognition of the NTPC’s exceptional efforts in water conservation and sustainable water management initiatives.

• Harekrushna Dash, ED (Sustainability, Environment & Ash) and K Karthikeyan, Additional General Manager (AGM), NTPC Limited received the award at ceremony organised by the United Nations (UN) Global Compact Network India (UN GCNI) in Chennai, Tamil Nadu (TN).
• NTPC is actively implementing the Reduce, Reuse & Recycle(RRR) approach to optimize water use.

i.The Forward Faster Sustainability Awards recognizes organisations/institutions in India that have made significant contributions in promoting sustainability and corporate responsibility, aligning with UN Sustainable Development Goals (SDGs).
i.NTPC Limited, largest integrated power utility in India, is contributing 25% of India’s power requirements and has an installed capacity of more than 77 Giga Watt (GW), with an additional capacity of 29.5 GW under construction, including 9.6 GW of Renewable Energy (RE) capacity.

• The company has set the target of achieving 60 GW of RE capacity by 2032.

APPOINTMENTS & RESIGNATIONS

President’s Rule Imposed in Manipur, After CM Biren Singh’s ResignationOn February 13 2025, the Ministry of Home Affairs (MHA) imposed President’s Rule in Manipur following the resignation of Chief Minister (CM) N Biren Singh. This marks the 11th instance of President’s Rule being imposed in the state since its formation in 1951.

• The last instance occurred between June 2, 2001, and March 6, 2002, lasting 277 days.

Resignation:
i.N Biren Singh resigned on February 9, 2025, nearly 21 months after ethnic violence between the Meitei and Kuki-Zo communities began in May 2023, which resulted in over 250 deaths and the displacement of thousands.
ii.He submitted his resignation to Governor Ajay Kumar Bhalla at the Raj Bhavan in Imphal, Manipur.
iii.He served as the 12th CM of Manipur from March 15 2017 to February 8 2025.
Political Instability and Constitutional Deadlines:
i.Due to the growing political instability, the Manipur Assembly,with a tenure lasting until 2027 was placed under suspended animation.
ii.According to Article 174(1) of the Indian Constitution, state Assemblies must convene within 6 months of their last session.
iii.The Manipur Assembly was required to reconvene by February 12, 2025, as the last session was held on August 12, 2024.
What is the President’s Rule?
i.Under Article 356 of the Indian Constitution, President’s Rule suspends the state government, and the Governor assumes executive powers on behalf of the President of India.
ii.Under President’s Rule, the elected state government is dissolved, and its powers are suspended.
iii.The Governor takes over as the executive head of the state, managing the administration on behalf of the President of India.
iv.The Governor functions under the guidance of the Union Council of Ministers, headed by the PM.
v.President’s Rule remains in effect for up to 6 months, with the possibility of extension for a maximum of 3 years, but only with approval from Parliament every six months and under special conditions after the 1st year.
Points to Note:
i.Since 1950, President’s Rule has been imposed 134 times across 29 states and Union Territories (UTs).
ii.Manipur and Uttar Pradesh (UP) have seen the most frequent impositions, while Jammu & Kashmir (J&K) holds the record for the longest duration, exceeding 12 years.
About Manipur:
Governor- Ajay Kumar Bhalla
Capital- Imphal
National Park- Keibul-Lamjao National Park, Sirohi National Park

ACQUISITIONS & MERGERS

ONGPL Acquires 100% Stake in Ayana Renewable Power for Rs 19,500 Crore
In February 2025, New Delhi(Delhi) based ONGC NTPC Green Private Limited (ONGPL), a 50:50 joint venture (JV) between Oil and Natural Gas Corporation (ONGC) Limited and National Thermal Power Corporation (NTPC) Limited, has made its first major investment by acquiring a 100% stake in Bengaluru (Karnataka)-based Ayana Renewable Power Private Ltd for Rs 19,500 crore (USD 2.3 billion).

• The Share Purchase Agreement(SPA) was signed at India Energy Week in New Delhi between ONGPL and Ayana’s Renewable Power previous stakeholders, National Investment and Infrastructure Fund (NIIF) headquartered at Mumbai, Maharashtra, British International Investment Plc (BII) based in London, United Kingdom (UK) and its subsidiaries, and Eversource Capital based in Mumbai.
•  It is the second-largest acquisition in India’s renewable energy(RE) sector, following Adani Green Energy Limited’s(AGEL) 2021 purchase of SoftBank’s RE assets in India for Rs.26,000 crore.

i.The acquisition aligns with ONGC’s and NTPC’s net-zero targets for 2038 and 2050, respectively, with ONGPL planning to utilize Ayana’s platform for further expansion in the sector.
ii Ayana Renewable Power currently has a portfolio of 4 gigawatts (GW) of operational and under-construction assets.

SPORTS

Asian Winter Games 2025: China Dominates, India Ends Medal-Less The 9th Asian Winter Games(Harbin 2025), held in Harbin, Heilongjiang Province, China, from February 7 to February 14, 2025, marked a significant milestone in the promotion of winter sports across Asia.

• Organized by the Olympic Council of Asia (OCA) and supported by the International Skating Union (ISU), the event brought together athletes from 34 countries.
• Asian Winter Games 2025 featured 64 events across 11 winter sports disciplines.
• China topped the medal tally with 32 Gold, 27 Silver, and 26 Bronze medals, total 85 medals.

About People’s Republic of China
President – Xi Jinping
Capital – Beijing
Currency – Chinese Renminbi or Yuan(CNY)
>> Read Full News

OBITUARY

Renowned Classical Singer Pandit Prabhakar Karekar Passes Away
In February 2025, renowned Hindustani classical singer Pandit Prabhakar Karekar passed away in Mumbai, Maharashtra at the age of 80. He was born in 1944 at Lingakaden, Fatorda (then known as Mhadd) in Goa.

• He was known for his soulful singing, especially in devotional songs like Bolava Vithal Pahava Vithal and Vakratund Mahakay.

i.Besides being a remarkable performer, he was also a dedicated teacher. A graded artist with All India Radio (AIR) and Doordarshan (DD), he gained a nationwide audience.
ii.Prabhakar Karekar is the founder and Chairman of the Swarprabha Trust.
iii.Throughout his career, he received many prestigious awards, including the Tansen Samman, Sangeet Natak Akademi Award, and Gomant Vibhushan Award, recognizing his contributions to classical music.

IMPORTANT DAYS

International Childhood Cancer Day 2025 – February 15International Childhood Cancer Day (ICCD) is a global collaborative campaign, observed annually on 15 February across the globe to raise awareness about childhood cancer, highlighting its distinct challenges, and to show solidarity with children and adolescents fighting cancer, as well as with survivors and their families.

• The 3-year campaign of ICCD (2024-2026) aims to address the challenges faced by childhood cancer patients, caregivers, survivors and health care professionals worldwide.
• The campaign theme of ICCD 2025 is “Inspiring Action”.

Background:
i.ICCD is an annual event established in 2002 by Childhood Cancer International (CCI), a global umbrella organization for national and grassroots childhood cancer parent groups.

• The first-ever ICCD was observed on February 15, 2002.

ii.The ICCD campaign is a collaborative initiative between CCI and the International Society of Paediatric Oncology (SIOP) or Société Internationale d’oncologie Pédiatrique (SIOP).
About Childhood Cancer International (CCI):
CCI is a global network of 183 organizations, including parent groups, childhood cancer survivor associations, support groups, and cancer societies, spanning 94 countries across 5 continents.
President– João de Bragança
Headquarters– Amsterdam, Netherlands
Established– 1994
>> Read Full News

World Pangolin Day 2025 – February 15World Pangolin Day is observed annually on the third Saturday of February to celebrate pangolins or the scaly anteater, the most unique mammals on Earth and raise awareness about their conservation. The day aims to highlight the critical threats faced by these unique mammals, primarily due to illegal poaching and trafficking for their scales and meat.

• In 2025, World Pangolin Day falls on 15th February 2024 marking the observance of the 14th World Pangolin Day.
• The 13th World Pangolin Day was observed on 17th February, 2024 and the 15th World Pangolin Day will be observed for February 21, 2026.

Background:
i.The first-ever World Pangolin Day was celebrated in February 2012 and has since gained international recognition from animal welfare organizations and individuals around the globe.
ii.The day serves as a powerful reminder of the urgent need to protect pangolins and raise awareness about their endangered status.
About Pangolins:
i.Pangolins, also known as scaly anteaters, get their name from the Malay word “penggulung,” meaning “roller,” which refers to their unique self-defence behavior of curling up into a tight ball when threatened.
ii.These creatures are the only mammals fully covered in scales made of keratin, the same material found in human nails.
iii.With their distinct armor-like appearance and curled-up defence mechanism, pangolins stand out in the animal kingdom.
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