Current Affairs 22 January 2025

We are here for you to provide the important Recent and Latest Current Affairs 22 January 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

NeGD Launches ‘Entity Locker’ for Business Document Management In January 2025, the National electronic (e)Governance Division (NeGD), under the Ministry of Electronics and Information Technology(MeitY), has introduced ‘Entity Locker’, a modern digital platform designed to simplify the way organisations manage and verify their documents.

• The platform aligns with India’s Digital Public Infrastructure(DPI) and the Union Budget 2024-25’s goal of advancing digital governance and simplifying business processes.

About Entity Locker:
Entity Locker is a secure, cloud-based system that helps businesses, including large corporations, Micro, Small, and Medium Enterprises (MSMEs), trusts, startups, and societies, store, share, and verify documents. It provides a consolidated platform for secure document management.
i.The platform integrates seamlessly with key systems like the Ministry of Corporate Affairs (MCA), Goods and Services Tax Network (GSTN), and Directorate General of Foreign Trade (DGFT), reducing delays and operational challenges in document handling.
ii.Entity Locker supports various use cases, including vendor verification during procurement and registration, speeding up loan applications MSMEs and simplifying compliance documentation for the food industry under the Food Safety and Standards Authority of India (FSSAI).
iii.It also streamlines corporate filings, such as annual returns and other essential documents.
Note: Individuals do not have direct access to Entity Locker; instead, they can connect their personal account to the organization’s account to manage and access digital documents.
Key Features:
i.The platform ensures real-time access and accuracy by instantly verifying documents through integration with government databases.
ii.Sensitive information is shared securely with user consent, Aadhaar authentication ensures secure and accountable access.
iii.The platform provides 10 gigabytes (GB) of encrypted cloud storage for secure document management and enables authentication through legally valid digital signatures.
iv.With built-in features, the platform simplifies regulatory reporting and compliance, while tracking all document-related activities to enhance accountability.

Overview of Singapore President Tharman Shanmugaratnam’s visit to India from January 14 to 18, 2025Singapore President Tharman Shanmugaratnam, visited India from January 14 to 18, 2025, marking his 1st bilateral state visit to India. He was accompanied by Chee Hong Tat, Minister for Transport and 2nd Minister for Finance of Singapore; and Sim Ann, Senior Minister of State, Ministry of Foreign Affairs and Ministry of National Development of Singapore.

• During the visit, he held discussions with President Droupadi Murmu focused on elevating bilateral ties to a ‘Comprehensive Strategic Partnership’ and establishing a unique Ministerial Roundtable mechanism.

Highlights of the Visit:
i.President of Singapore Tharman Shanmugaratnam and President of India Droupadi Murmu jointly unveiled the 60th Anniversary Commemorative logo at Rashtrapati Bhavan in New Delhi.
ii.During State visit to Odisha by Singapore’s President Tharman Shanmugaratnam, several Memoranda of Understanding (MoUs) were signed between the Odisha government and Singaporean organizations focused on enhancing cooperation in the fields of skills development, green energy, and industrial growth.
About Singapore:
Prime minister (PM)– Lawrence Wong
President– Tharman Shanmugaratnam
Capital– Singapore
Currency– Singapore Dollar (SGD)
>> Read Full News

Union Minister Dr. Jitendra Singh inaugurated India’s 1st of its kind CSIR Innovation Complex in Mumbai
In January 2025, Union Minister of State(MoS) (Independent Charge, IC) Dr. Jitendra Singh, Ministry of Science and Technology(MoS&T) and Ministry of Earth Sciences(MoES), inaugurated India’s first-of-its-kind Council of Scientific & Industrial Research (CSIR) Mega “Innovation Complex” through virtual mode and dedicated it to StartUps and Industry stakeholders in Mumbai, Maharashtra.

• The event was attended by Dr. V.K. Saraswat and Dr. V.K. Paul, Members of NITI Aayog; Dr. N. Kalaiselvi, Secretary of Department of Scientific and Industrial Research (DSIR) and Director General (DG) of CSIR; and Dr. Ram Vishwakarma.

i.The new “Innovation Complex” is a huge state-of-the-art facility that spans nine floors and has 24 “ready-to-move” incubation labs in addition to furnished office and networking spaces for industry, CSIR labs, Micro, Small, and Medium Enterprises (MSMEs), and innovative startups.
ii.CSIR signed 6 Memorandums of Association (MoA) with 6 esteemed institutions, including the Indian Institute of Technology (IIT) Bombay, iCreate, and the National Research Development Corporation (NRDC), to promote innovation, industrial collaboration, and job creation.
iii.Additionally, 50 technology transfers from CSIR institutes to start-ups, MSMEs, and other organizations were formalized, further boosting industry collaboration and employment generation.
Note: India is the third-largest start-up ecosystem in the world, with over 100 unicorns that stand as testaments to India’s entrepreneurial spirit.

INTERNATIONAL AFFAIRS

Climate Change, Conflict, Digital Inequality Disrupting Children’s Lives: UNICEF ReportIn January 2025, United Nations Children’s Fund (UNICEF), a humanitarian aid organisation of UN released a report titled ‘Prospects for Children in 2025: Building Resilient Systems for Children’s Futures’. As per the report, climate change, economic instability, conflict and digital inequality are disrupting children’s lives and limiting their prospects.

• The report warned that the coming year will witness a new and escalating period of crises for children worldwide.

i.Global Impact of Conflict on Children: As per the report, more than 473 million children i.e. more than one in six globally, lived in areas affected by conflict in 2023. The percentage of children affected by conflict has almost doubled, from around 10% (in 1990s) to almost 19%.
ii.Children Living in Debt-Ridden Countries: The report revealed that nearly 400 million children live-in debt ridden countries, which hinders important investments in sectors like education, healthcare and social protection.
About United Nations Children’s Fund (UNICEF):
Executive Director (ED)– Catherine Mary Russell
Headquarters- New York, the United States of America (USA)
Established- 1946
Member Countries- 190
>> Read Full News

BANKING & FINANCE

RBI Released NBFC Upper Layer List for 2024-25In January 2025, the Reserve Bank of India (RBI) released the list of Non-Banking Finance Companies (NBFCs) in the Upper Layer (UL) segment under the Scale Based Regulation (SBR) for NBFCs for the year 2024-25.

• RBI has retained Tata Sons Private Limited in the NBFC UL list despite its request to de-register as a NBFC, is under examination.

i.The updated list comprises 15 companies that include Life Insurance Corporation of India (LIC) Housing Finance Limited (HFL), Bajaj Finance Limited (BHL), and Shriram Finance Limited (SFL), among others.
ii.Muthoot Finance Limited (MFIN), a flagship of Muthoot Group is the only gold loan NBFC included in RBI’s ‘UL’ list for 3 consecutive years.
iii.Piramal Enterprise Limited(PEL), which qualified for inclusion on the list based on scoring, has been eliminated for the year 2024-25 due to ongoing reorganization in the business group.
>> Read Full News

IDFC FIRST Bank Unveils ‘FIRST EA₹N RuPay Credit Card’On January 20 2025, Mumbai (Maharashtra) based IDFC FIRST Bank Limited, in partnership with Rupay (developed by National Payments Corporation of India (NPCI)), a global card payment network from India, launched the Unified Payments Interface (UPI)-enabled ‘FIRST EA₹N RuPay Credit Card’.
About FIRST EA₹N RuPay Credit Card:
i.Backed by a Fixed Deposit (FD), this card is instantly available online to everyone and offers cashback on UPI payments.
ii.It lets customers access credit on UPI, earn rewards, and enjoy attractive interest on FD simultaneously.
iii.Eligibility:

• Must be an Indian citizen
• Over 18 years of age
• Have a minimum FD of Rs. 5,000 with the bank

Key Features:
i.Seamless UPI Integration: Use the card for UPI transactions at over 60 million Quick-Response(QR) code locations.
ii.Instant Card Issuance: Get a virtual credit card instantly with seamless UPI integration for immediate use.
iii.Cashback Offer: New cardholders get 100% cashback on their first UPI transaction (up to Rs. 500) within 15 days, effectively refunding the first year’s fees.
iv.Rewards:

• Up to 1% cashback on UPI transactions via the IDFC FIRST Bank application(app).
• 0.5% cashback on transactions made through other UPI apps, as well as on insurance, utility bill payments, and e-commerce purchases.
• Enjoy a 25% discount, up to Rs. 100, on District by Zomato movie tickets.

v.Interest on Fixed Deposit: Earn 7.25% per annum (p.a. )interest on 1 year 1 day FD.
vi.Comprehensive Protection:

• Complimentary roadside assistance valued at Rs. 1,399.
• Lost card liability coverage of up to Rs. 25,000.
• Personal accident coverage of up to Rs. 2,00,000.

About IDFC FIRST Bank Limited
Managing Director (MD) & Chief Executive Officer (CEO): V. Vaidyanathan
Headquarters – Mumbai, Maharashtra
Established – 2018
Tagline – Always You First

GlobalData: HDFC Bank, ICICI Bank & SBI Rank Among Top 25 Global Banks by Market Cap; JP Morgan Chase Tops the ListIn January 2025, London, the United Kingdom (UK) based data analytics and research company GlobalData Plc released a report on the Top 25 Global Banks by Market Capitalization in the fourth quarter (Q4) of 2024, with the New York, United States of America (USA) based JPMorgan Chase & Co remains as the world’s largest bank by market capitalization (MCap) recording an increase of 37.2% to USD 674.9 billion by the end of Q4 of 2024 from Q4 of 2023.

• USA-based Bank of America Corporation (BAC) secured the 2nd position with USD 337.2 billion, while China-based Industrial and Commercial Bank of China (ICBC) ranked 3rd with USD 328.2 billion.
• In Q4 2024, India’s HDFC bank Limited dropped from 7th to 13th position compared to Q4 2023, ICICI bank Limited moved up one spot to 19th from 20th position, and State Bank of India (SBI) retained its 24th position.

About GlobalData Plc:
Chief Executive Officer (CEO) – Mike Danson
Headquarters – London, the United Kingdom (UK)
Founded – 1999
>> Read Full News

Shriram Housing Finance Rebranded as Truhome FinanceIn January 2025, Shriram Housing Finance Limited(SHFL), a housing finance company in India, has rebranded as Truhome Finance. The rebranding follows its acquisition by Warburg Pincus and co-investors, including Qatar Investment Authority (QIA), Qatar’s sovereign wealth fund from Shriram Finance.
i.Shriram Finance Group received an investment of Rs 1,225 crore, increasing the Company’s net worth to over Rs 3,300 crore.
ii.In December 2024, Shriram Finance sold its entire 84.44% stake in its affordable housing finance subsidiary SHFL to Warburg Pincus for a sale consideration of Rs 3,929 crores.

ECONOMY & BUSINESS

IMF Retains India’s GDP growth forecast at 6.5% for FY26 & FY27On January 19, 2025, the International Monetary Fund (IMF) maintained its growth forecast for India’s economy at 6.5% for both Financial Year 2025-26 (FY26) and FY27.

• The IMF’s World Economic Outlook report stated that India’s growth is expected to remain solid at 6.5%, consistent with previous projections made in October 2024.

India’s Economic Performance:
i.India’s Gross Domestic Product (GDP) growth slowdown in the 2nd quarter of Financial Year 2025 (FY25) to 5.4%, lower than the 6.7% recorded in the same period of the previous financial year 2024 (FY24). The slowdown is attributed to a sharp deceleration in industrial activity.
ii.In FY24, India’s GDP growth was 8.4%, indicating a significant slowdown compared to the previous year 2023.
Global Economic Outlook:
i.The IMF’s global growth forecast remains at 3.3% for both 2025 and 2026, which is below the historical average of 3.7%.
ii.The global economy faces risks such as protectionist policies, geopolitical tensions, and inflationary pressures, which could negatively impact trade and investment.
Key Risks:
i.The IMF warned of risks such as the intensification of protectionist policies, could lead to higher tariffs, disrupt global trade flows, and lower investment.
ii.Geopolitical tensions in regions like the Middle East and Ukraine could affect commodity prices, particularly in energy and food sectors.
About International Monetary Fund (IMF):
Managing Director(MD) – Kristalina Georgieva
Headquarters – Washington, D.C., the United States of America(USA)
Founded –  1944

Moody’s Lowers India’s Economic Growth Forecast to 7% for FY 2024-25On January 20, 2025, Moody’s Corporation revised India’s economic growth forecast for the financial year 2024-25 (FY25), lowering it to 7%, down from 8.2% in the previous FY2024.

• The slowdown is partly due to tight monetary policies aimed at curbing inflation and global challenges, including geopolitical tensions and adverse weather conditions.

Key Points:
i.Economic Outlook: India’s Gross Domestic Product (GDP) growth is projected to slow to 7% in FY25, down from 8.2% in FY24.While the growth rate is lower, it remains strong compared to global averages.
ii.Sector Contributions: Despite the slowdown, sectors such as agriculture and services continue to show positive growth. Agriculture grew by 3.5%, and services expanded by 7.1%. However, industrial growth remained weak at 3.6% year-on-year.
iii.India’s GDP per capita, adjusted for purchasing power parity, increased by 11% year-on-year, reaching USD 10,233 in FY 2023.
Points to be noted

• The Federation of Indian Chambers of Commerce and Industry (FICCI) also revised its growth forecast for FY25 down to 6.4%, from 7%.
• The Asian Development Bank (ADB) lowered its forecast to 6.5% for FY2024.The ADB also revised its FY2025-26 forecast to 7% from 7.2% due to tighter monetary policies impacting demand.
• Reserve Bank of India (RBI) projected a growth rate of 7.2% for FY 2025, but due to changing economic conditions, it lowered the forecast to 6.6%.

CSE & NCDEX signs MoU for Commodities and Derivatives Trading
On January 20, 2025, Colombo Stock Exchange(CSE) of Sri Lanka and National Commodity and Derivatives Exchange(NCDEX) of India signed a Memorandum of Understanding (MoU) to enhance commodities and derivatives trading in Sri Lanka.

• The MoU aims to foster knowledge transfer between NCDEX and CSE, focusing on the development of trading systems, regulatory frameworks, and innovative product design benefiting traders and market participants in both countries.

As part of the agreement, NCDEX and CSE will:
i.Knowledge Transfer: Both exchanges will share technical expertise in product development, trading mechanisms, and regulatory frameworks.
ii.Technology and Infrastructure Support: Assistance will be provided in setting up advanced trading systems and operational infrastructure.
iii.Capacity Building: Joint training programs will be conducted to develop the skills of personnel in areas such as technology, trading systems, and regulations.

APPOINTMENTS & RESIGNATIONS

Gyanendra Pratap Singh Appointed as DG of CRPFIn January 2025, Gyanendra Pratap Singh was appointed Director General (DG) of the Central Reserve Police Force (CRPF),India’s largest paramilitary force, with the approval of the Appointments Committee of the Cabinet (ACC). He will serve as the CRPF chief until further orders or until his superannuation on November 30, 2027.

• He will take charge from Special DG of the CRPF Vitul Kumar who has been holding officiating charge of the force after the retirement of Anish Dayal Singh on December 31, 2024.

i.Senior IPS officer Mahesh Kumar Aggarwal has also been named as the Additional Director General (ADG) of the Border Security Force (BSF).
ii.Shamsher Singh, the current DG of the Gujarat Anti-Corruption Bureau (ACB), has been appointed as the ADG of the BSF for a tenure upto the 31st of March 2026.
About Central Reserve Police Force (CRPF):
Director General (DG) – Gyanendra Pratap Singh
Headquarters – New Delhi(Delhi)
Established – 1939
>> Read Full News

Nidhi Khare Assumes Additional Charge as Secretary of MNRE
In January 2025, Nidhi Khare, Secretary of the Department of Consumer Affairs (DCA), Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD), was given the additional charge as the Secretary of the Ministry of New and Renewable Energy (MNRE).

• The Appointments Committee of the Cabinet (ACC) has approved her assignment with immediate effect. She will hold the position until a regular incumbent is appointed or until further orders.
• She replaced Prashant Kumar Singh who was appointed as the Chief Secretary(CS) of Manipur.

i.Nidhi Khare,a 1992-batch Indian Administrative Service (IAS) officer from the Jharkhand cadre, brings over 3 decades of administrative experience.She held several prominent positions throughout her career.
ii.From 2015 to 2018, she served as the Special/Additional Secretary, DCA, MoCAF&PD.
iii.In Jharkhand, she served as the Secretary, Commercial Taxes from 2015 to 2016, and as the Principal Secretary, Personnel, Administrative Reforms and Rajbhasha from 2016 to 2018.

SPORTS

22nd India Open 2025: Viktor Axelsen, An Se-Young secure men’s and women’s singles titlesParis Olympic gold medalists Viktor Axelsen of Denmark and South Korea’s An Se Young won the Men’s and Women’s Singles titles in the finals of 22nd India Open Super 750 badminton tournament 2025 held on 19th January 2025 at the KD Jadhav Indoor Hall in New Delhi, Delhi.

• Axelsen defeated Hong Kong’s Lee Cheuk Yiu in the Men’s Singles final while An Se Young defeated Thailand’s Pornpawee Chochuwong in the women’s singles final.
• The India Open Super 750 badminton tournament 2025 was held from 14th January to 19th January 2025.

Note:The total prize money for the India Open 2025 was USD 950,000.
Key Highlights:
i.Malaysia’s Goh Sze Fei and Nur Izzuddindefeated South Korea’s Kim Won Ho and Seo Seung Jae in the Men’s doubles
ii.In the Women’s doubles category, Japan’s Arisa Igarashi and Ayako Sakuramoto defeated South Korea’s Kim Hye Jang and Kong Hee Young in the finals to win the title.
iii.China’s Jiang Zhenbang and Wei Yaxin won in the mixed doubles category after defeating France’s Thom Gicquel and Delphine Delrue in the finals.
About India Open:
i.The India Open, officially known as the Yonex Sunrise India Open is an annual badminton event which has been held in India since 2008.

• It was held for the first time in 1973.

>> Read Full News

Kho Kho World Cup 2025: India wins both men’s and women’s team eventsThe Indian men’s and women’s teams won the Kho Kho World Cup 2025 titles in their respective finals of the 1st edition of the Kho Kho World Cup 2025 held from January 13 to 19, 2025 at the Indira Gandhi Indoor Stadium in New Delhi, Delhi.

• The Indian men’s Kho Kho team beat Nepal by 54-36 while the women’s team defeated the Nepalese team by 78-40 in the finals.
• The Indian men’s team was captained by Pratik Waikar while the Women’s team was captained by Priyanka Ingle.

Key Highlights:
i.India men’s team remained unbeaten throughout the Kho Kho tournament.

• The team topped the Group A standings with four wins defeating Sri Lanka in the quarter-finals and South Africa in the semi-finals.

ii.The Indian women’s Kho Kho team also remained undefeated in the tournament.

• They won their three Group A matches and then defeated Bangladesh and South Africa in the quarter-finals and semi-finals, respectively.

About Kho Kho World Cup 2025:
i.The Kho Kho World Cup 2025 tournament was organized by the Kho Kho Federation of India(KKFI) and the International Kho Kho Federation(IKKF).

• This inaugural edition of the competition was backed by the Indian Olympic Association (IOA), and featured 20 men’s and 19 women’s teams.

ii.The Indian men’s team was in Group A with Nepal, Peru, Brazil and Bhutan while the women’s team was in Group A with the Islamic Republic of Iran, Malaysia and Republic of Korea.
iii.Teams competed in a round-robin format, with the top performers advancing to the knockout rounds and finals.
Note: The second edition of Kho Kho World Cup will take place in Birmingham, England in 2026-27.
About Kho Kho Federation of India(KKFI):
President – Sudhansu Mittal
Headquarters – New Delhi, Delhi
Established –  1955.

Jannik Sinner and Iga Natalia Świątek Crowned ITF World Champions 2024On January 21, 2025, the International Tennis Federation (ITF) announced Jannik Sinner (Italy) as ‘Men’s ITF World Champion 2024’ and Iga Natalia Świątek (Poland) as ‘Women’s ITF World Champion 2024’, for their exceptional performances across major tournaments, including Grand Slams tournaments, the Davis Cup, Billie Jean King Cup, the Olympic Games and other premier events.

• With this, Jannik Sinner became the first Italian player to receive this award.
• Iga Natalia Świątek was awarded the ITF honor for the second time, after 2022.

Winners of ITF World Champion Awards 2024:

About the International Tennis Federation (ITF):
President & Chief Executive Officer (CEO)– David Haggerty
Headquarters- London, the United Kingdom (UK)
Established- 1913
>> Read Full News

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