Current Affairs 23 August 2025

We are here for you to provide the important Recent and Latest Current Affairs 23 August 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

GoM accepts Centre’s GST proposal, to recommend scrapping of 12%, 28% slabsIn August 2025, the Group of Ministers (GoM) on Goods and Services Tax (GST) rate rationalisation, headed by Samrat Choudhary, Deputy Chief Minister(DyCM) of Bihar, accepted the Government of India(GoI)’s proposal to reduce the current four-slab structure to two-slab structure i.e. 5% and 18%.

• This represents a major milestone in the reform of the indirect tax system.

Proposed GST Rate Rationalisation Framework:

Members of GoM: The six member GoM includes Uttar Pradesh (UP) Finance Ministers (FM) Suresh Kumar Khanna, Rajasthan Health Minister (HM) Gajendra Singh, West Bengal (WB) FM Chandrima Bhattacharya, Karnataka Revenue Minister Krishna Byre Gowda, and Kerala FM K N Balagopal.

Proposed Structure: The existing four-rate GST structure of 5%, 12%, 18%, and 28% is proposed to be replaced with a simplified two-rate system, 5% for merit goods and 18% for standard items.

• Under this reform, 99% of items currently taxed at 12% would be shifted to the 5%, while 90% of those under the 28% bracket would move to 18%.
• The panel proposed that 40% GST slab has been earmarked for sin and luxury goods under the new GST framework.
  >>Read Full News

MoTA Launches World’s Largest Tribal Grassroots Leadership Programme ‘Adi Karmayogi Abhiyan’In August 2025, the Ministry of Tribal Affairs (MoTA) launched the “Adi Karmayogi Abhiyan”, envisaged as the world’s largest tribal grassroots leadership programme, with an aim to empower tribal communities, strengthen responsive governance, and create local leadership across India.

• This initiative forms a key part of the Janjatiya Gaurav Varsh and contributes towards the vision of Viksit Bharat by 2047.

Adi Karmayogi Abhiyan:
Nationwide Leadership Movement: The Adi Karmayogi Abhiyan is envisaged as a nationwide movement to build a structured cadre of 20 lakh tribal change leaders across 1 lakh tribal villages, 550 districts, and 30 States and Union Territories (UTs).
Building on Flagship Initiatives: It builds upon the successful implementation of flagship schemes, including Dharti Aaba Janjatiya Gram Utkarsh Abhiyan (DA-JGUA), Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN), and National Sickle Cell Anaemia Elimination Mission (NSCEM).
Emphasis: The programme emphasizes Sewa (Service), Sankalp (Resolve), and Samarpan (Dedication), reflecting the guiding principle of “Sabka Saath, Sabka Vikas, Sabka Prayas, Sabka Vishwas.”
Objectives: The key objectives of the programme are to promote responsive, people-centric governance at village and community levels; conduct Multi-departmental Governance Lab Workshops/ Process Labs from state to district, block, and village levels, for capacity building of State, District, and Block Master Trainers.
>>Read Full News

UIDAI Introduces Aadhaar-Based Authentication Framework for Cooperative BanksOn August 21, 2025, the Unique Identification Authority of India (UIDAI), Ministry of Electronics and Information Technology (MeitY), introduced a new framework to onboard Cooperative banks and enable them to deliver Aadhaar-based authentication services as part of the observance of the International Year of Cooperatives(IYC2025).

• The initiative marks a significant step towards expanding digital inclusion in rural and semi-urban areas.

Authentication Framework:
Development: The framework, developed in close consultation with Ministry of Cooperation, National Bank for Agriculture and Rural Development (NABARD), National Payments Corporation of India (NPCI), and Cooperative banks.
Coverage: The framework encompasses all 34 State Cooperative Banks (SCBs) and 352 District Central Cooperative Banks (DCCBs) across India.
Registration: Under the new framework, only the SCBs will be directly registered with UIDAI as Authentication User Agencies (AUA) and electronic Know Your Customer (eKYC) User Agencies (KUA).

• Through this move, DCCBs can seamlessly use the Aadhaar authentication application and Information Technology (IT) infrastructure of their respective SCBs, eliminating the need for DCCBs to develop or maintain separate IT systems.

Services: The new framework allows cooperative banks to offer Biometric eKYC and face authentication for secure and hassle-free onboarding of customers, and Aadhaar Enabled Payment System (AePS) and Aadhaar Payment Bridge(APB).

• With this move, customers of the banks are benefitted as subsidies and welfare payments are directly credited into their cooperative bank accounts using Aadhaar.

About Unique Identification Authority of India (UIDAI):
Chief Executive Officer (CEO) – Bhuvnesh Kumar
Headquarters – New Delhi, Delhi
Established – 2009

INTERNATIONAL AFFAIRS

Overview of EAM S. Jaishankar’s 3 day Visit to Russia from August 19-21, 2025Union Minister Dr. Subrahmanyam(S.)Jaishankar, Ministry of External Affairs (MEA), Government of India (GoI) undertook a 3-day official visit to Russia from August 19 to 21, 2025, at the invitation of Denis Manturov, the 1st Deputy Prime Minister (PM) of Russia.

• The visit aims to further bolster the longstanding and time-tested India-Russia Special and Privileged Strategic Partnership.

Key Highlights of the visit:
Meeting with Russian President : During his visit, External Affairs Minister (EAM) S. Jaishankar met Russian President Vladimir Putin, stressing the need to address trade imbalances and expand bilateral cooperation in a balanced and sustainable manner.
26th IRIGC-TEC Session: EAM S. Jaishankar co-chaired the 26th India-Russia Inter-Governmental Commission on Trade, Economic, Scientific, Technological and Cultural Cooperation (IRIGC-TEC) Session with Russian Deputy PM Manturov in Moscow.

•  Finalise the Programme of Economic Cooperation till 2030.
• Early conclusion of the India-Eurasian Economic Union FTA and consistent business engagements to achieve the USD 100 billion trade target by 2030.
• The plenary session concluded with co-chairs signing the protocol for the 26th IRIGC-TEC.

Forum: Following conclusion of 26th session of IRIGC-TEC, EAM S. Jaishankar and Russian Deputy PM addressed the India-Business Forum held in Moscow.
>>Read Full News

BANKING & FINANCE

PFC Signs EUR150 Million Loan Pact with Germany’s KfW to Support RDSS ProjectsIn August 2025, Power Finance Corporation Limited (PFC), Schedule-A ‘Maharatna’ Central Public Sector Enterprise (CPSE) under the Ministry of Power (MoP), has signed a loan agreement worth EUR 150 million with  Kreditanstalt für Wiederaufbau(KfW), Germany’s largest promotional bank, to strengthen India’s power distribution under the Revamped Distribution Sector Scheme (RDSS).

• This strategic partnership is expected to bolster bilateral cooperation between India and Germany in the energy sector, promoting the shared goal of driving energy transition and ensuring reliable power supply.

Key Details of Agreement:
Signatories: The agreement was signed between Parminder Chopra, Chairman and Managing Director (CMD) of PFC; and Stefan Wintels, Chief Executive Officer (CEO) of KfW, in the presence of Gottifried von Gemmingen, Head of Division for Economic Affairs, German Embassy in New Delhi, Delhi.
Funding : As per the agreement, the loan proceeds will be used to fund projects under the GoI’s RDSS, aimed at enhancing the operational and financial efficiency of power distribution companies nationwide.
Prior Collaboration: PFC and KfW have a history of working together on several power distribution sector projects.
RDSS: The scheme was originally launched in 2021 by the GoI, with total budget outlay of Rs 3,03, 758 crore.
About Power Finance Corporation Limited (PFC):
Chairman and Managing Director (CMD)- Parminder Chopra
Headquarters- New Delhi, Delhi
Established- 1986

JICA Invests USD 40 Million in Aavishkaar Capital Fund to Boost SMEs in Asia and Africa
On August 22, 2025, the Japan International Cooperation Agency (JICA) announced a USD 40 million investment in “Global Supply Chain Support Fund”, managed by Aavishkar Capital, with an aim to boost Small and Medium Enterprises (SMEs) that are engaged in the global supply chain across Asia and Africa.

About JICA’s invests in Aavishkaar Capital:
Support: With this move, JICA will help Aavishkar Capital expand into the emerging markets of Asia and Africa.
Target Sectors: The fund primarily supports SMEs engaged in global supply chains across agriculture, food processing, and manufacturing.
Supply Chain: The funding is intended to strengthen supply chain resilience by providing capital to SMEs that deliver strong social, environmental, and impact-driven outcomes.
Background: This is the eighth fund launched by Aavishkaar Capital, with the Global Supply Chain Support Fund established in collaboration with the German Development Bank (KfW).

L&T Finance Partners with Google Pay to Offer Personal Loans
In August 2025, L&T Finance Limited(LTF), leading Non-Banking Financial Company (NBFC) in India, has collaborated with Google Pay(GPay), a mobile payment application(app) developed by Google, to offer person loans to eligible users.

Significance:
Strategy: This initiative aligns with L&T Finance’s product diversification strategy, making personal loans fast, seamless, and digitally accessible for users.
Easy Access to Loans: This collaboration will enable the eligible users of Google Pay to easily apply for and access to personal loan products of LTF within the platform.

APPOINTMENTS & RESIGNATIONS

RBI Appoints Indranil Bhattacharyya as Ex-Officio Member of MPCOn August 22, 2025, the Reserve Bank of India (RBI)’s Central Board of Directors, during its 618th meeting in Lucknow, Uttar Pradesh (UP), approved the nomination of Indranil Bhattacharyya, Executive Director (ED) of RBI, as an ex-officio member of the Monetary Policy Committee (MPC). The meeting was chaired by Sanjay Malhotra, Governor of RBI.

• Indranil Bhattacharyya succeeds Rajiv Ranjan, who was shifted to lead the Department of Economic & Policy Research (DEPR).

RBI Central Board Meeting Highlights:
Agenda: Reviewed the global and domestic economic environment, focusing on geopolitical developments and financial market challenges.

• Assessed functioning of Central Office Departments, Committees of the Central Board, and the Ombudsman Scheme.

Key Attendees of the Meeting:

• Deputy Governors: M. Rajeshwar Rao, T. Rabi Sankar, Swaminathan J, and Dr. Poonam Gupta.
• Government Representatives:
• Nagaraju Maddirala, Secretary, Department of Financial Services (DFS).
• Anuradha Thakur, Secretary, Department of Economic Affairs (DEA).
• Board Members: Satish K. Marathe; Revathy Iyer; Prof. Sachin Chaturvedi; Anand Gopal Mahindra (Chairman, Mahindra Group); Pankaj Ramanbhai Patel (Chairman, Zydus Lifesciences Ltd.); and Dr. Ravindra H. Dholakia.

About Indranil Bhattacharyya
Career Profile: With over 28 years of experience in central banking, he has spent more than two-thirds of his career in the Monetary Policy Department (MPD). He also served as an Adviser in RBI’s MPD.
International Experience: Served as an Economic Expert at the Qatar Central Bank (QCB), Doha, for 5 years (2009-2014).
About the Monetary Policy Committee (MPC)

• Constituted under the RBI Act, 1934.
• Responsible for setting benchmark policy interest rates to control inflation and support growth.
• Structure: 6 members – 3 RBI nominees and 3 external experts.

PCI Re-Appoints Vishwas Patel as Chairperson; Appoint Srinivasu, Nalin Bansal as Co-ChairsOn August 21, 2025, the Payments Council of India (PCI) approved the re-appointment of Vishwas Patel, Joint Managing Director of Infibeam Avenues Limited, as Chairperson for the 2025–2027 term.

• The executive council also appointed M N Srinivasu, Director, of BillDesk and Nalin Bansal, Chief of Corporate Fintech Relationships & Key Initiatives, National Payments Corporation of India (NPCI), as Co-Chairpersons for the same period.

About Vishwas Patel:
Third Term as Chairman : Vishwas Patel has been re-elected as the Chairman of the PCI for the third time in 2025, reflecting continued confidence in his leadership.
Previous Roles:
He was first elected as Chairman in 2018, re-appointed in 2022, and had earlier contributed as Co-Chairman in 2013.
Committee Appointments:
The PCI structured specialized committees to address sector-specific challenges within the digital payments ecosystem.

About Payments Council of India (PCI):

It is a body representing non-banking companies in India’s digital payments ecosystem and was formed under the aegis of the Internet and Mobile Association of India (IAMAI).

• The Payments Council of India (PCI) is overseen by an Executive Council consisting of 16 members from the digital payments industry, along with an ex-officio seat held by the Chairman of IAMAI.

Headquarters – Mumbai, Maharashtra
Established – 2013

Ajay Singh Elected as the President of the BFI for the Third Time
On August 21, 2025, Ajay Singh, Managing Director(MD) of SpiceJet Airlines, was re-elected as President of the Boxing Federation of India (BFI) for a third consecutive term. He secured 40 votes against Olympian Jaslal Pradhan’s 26 votes in the elections held in Gurugram, Haryana.

Other Appointments:
Polls: The polls were conducted under the supervision of Rajesh Tandon, Returning Officer Justice (Retired), and Fairuz Mohammed, Chairperson, BFI Interim Committee and Observer.
Secretary General: Pramod Kumar of Uttar Pradesh (UP) was elected as the new secretary general, defeating Digvijay Singh of Madhya Pradesh (MP), replacing Hemanta Kalita of Assam.
Treasurer: Pon Baskaran from Tamil Nadu(TN) was elected as the Treasurer defeating Anil Kumar Bohidar and R. Gopu.

SPORTS

18th International Olympiad on Astronomy and Astrophysics Held in Mumbai, Maharashtra
The 18th edition of the International Olympiad on Astronomy and Astrophysics (IOAA 2025), an annual competition in Astronomy and Astrophysics for secondary school students was held from August 11 to 21, 2025, in Mumbai, Maharashtra.

About IOAA 2025:
Organizer: The event was organized by the Homi Bhabha Centre for Science Education (HBCSE), a national centre of the Tata Institute of Fundamental Research (TIFR), Mumbai.
Support: The IOAA 2025 is supported by the Department of Atomic Energy (DAE), Government of India (GoI), through the Vigyan Pratibha Project of HBCSE.
Participation: The 18th IOAA, the first edition hosted by India, was the largest in the event’s history, featuring over 300 students from 64 countries.
India’s Victory: Aarush Mishra from Bengaluru (Karnataka), Banibrata Majee from Delhi, Panini from Patna (Bihar), and Akshat Srivastava from Kolkata (West Bengal, WB) have won gold medals.

• Sumant Gupta from Gurugram (Haryana) won a silver medal.

Suspension: During the IOAA Board Meeting, representatives of 64 countries voted to suspend Israel as a recognized national team in future editions. Israeli students may participate only as individuals, without official national

OBITUARY

NRI Industrialist & Padma Bhushan Awardee Lord Swraj Paul Passed AwayOn 21st August 2025, Lord Swraj Paul, a prominent Non-Resident Indian (NRI) industrialist, philanthropist, and member of the House of Lords in the United Kingdom (UK), passed away in London at the age of 94.  He was born on 18th February 1931, Jalandhar (Punjab).

• In 1983, he was honoured with the Padma Bhushan, India’s third-highest civilian award,  in recognition of his significant contributions to social work.

About Lord Swraj Paul:
Profile: He was an Indian-born British industrialist, philanthropist, and prominent public figure.
Parliamentary Role (UK): He was appointed as a Life Peer in 1996 and served actively in the House of Lords, contributing to committees on trade, education, and entrepreneurship.

• He served as a member of Panel 2000, an initiative to re-brand Britain.

Philanthropy: Founded the Ambika Paul Foundation, supporting global initiatives in child welfare, health, and education.

• He was also the founder of the UK based Caparo Group of Industries, a multinational steel and engineering company
  >>Read Full News

IMPORTANT DAYS

International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief 2025 – August 22The United Nations (UN) annually observes the International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief on 22nd August to condemn violence and terrorism against individuals and communities targeted due to their religion or belief.

• 22nd August 2025 marks the observance of the 7th International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief.

Background:
UNGA Resolution: On 28th May 2019, the United Nations General Assembly (UNGA) adopted Resolution A/RES/73/296, designating 22 August as the International Day Commemorating Victims of Religion-Based Violence.
First Observance: The inaugural observance of International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief was held on 22 August 2019.
About United Nations (UN):
Secretary – General (SG) – António Guterres
Headquarters – New York,  the United States of America (USA)
Established – 1945
>>Read Full News

STATE NEWS

Odisha Signed 3 MoUs to boost Heritage, Adventure & Buddhist Tourism
In August 2025, the Tourism department of Odisha Government has signed 3 Memorandum of Understandings (MoU) with 3 premier Indian organisation: Indian Institute of Technology Madras (IIT-M); National Institute of Water Sports (NIWS, Goa); and the Light of Buddhadharma Foundation International (LBDFI) to promote heritage conservation, adventure tourism, and Buddhist pilgrimage circuits in the state.

Key Details of MoUs:
MoU with IIT-M: As per the provisions of MoU signed with Chennai(Tamil Nadu, TN) based IIT-M, Odisha will use advanced scientific techniques for structural audits and conservation of heritage monuments. This strategic partnership will cover detailed documentation, material testing, geo-technical investigations and preparations of project reports.

• It also features sustainable reuse plans and project management consultancy support, aimed to ensure long-term preservation of historic sites of the state.

MoU with NIWS, Goa: This MoU aimed to enhance safety and standardization in adventure and water tourism.
As per the MoU, NIWS will facilitate technical guidance on safety measures, perform safety evaluations, and deliver training programs for tourism operators and lifeguards.
MoU with LBDFI: Bihar’s LBDFI in collaboration with Odia Language, Literature & Culture Department aims to revive the state’s rich Buddhist heritage and integrate it with religious tourism .

Karnataka Signs MoU with BEL to Deliver Real-Time Advisory Services to Farmers
On August 21, 2025, the Karnataka Agriculture Department signed a Memorandum of Understanding (MoU) with Bharat Electronics Limited (BEL) to deliver tech-driven, real-time advisory services to farmers in Karnataka.

About Advisory Services:
Integration: Under this MoU, the key agricultural datasets such as the crop information, weather data, Farmers Registration & Unified Beneficiary Information System (FRUITS) database, state and central government schemes will be integrated and analyzed to provide real-time services to the farmers.
Implementation: The initiative will be implemented in two phases, including pilot phase for a period of one year, and full-scale implementation for four years.
Role of BEL: Under the agreement, BEL will customize its Equinox platform for agriculture, provide technical consultancy, and support data integration.

Assam Govt Approves Rs.600 Crore Nelco Partnership to Boost Youth Skill Development
On August 22, 2025, Chief Minister (CM) of Assam, Himanta Biswa Sarma, approved a Rs.600 crore project in collaboration with Nelco Limited, a subsidiary of Tata Power, to develop skill education centres across Assam under the Samagra Shiksha Axom (SSA) framework.

About Hub-Spoke Model for Vocational Education:
Aim: The partnership aims to revolutionize vocational education across Assam through the implementation of 50 hubs and 500 spokes (smaller hubs) model.
Features: In the first phase, 10 hubs and 70 spokes, located within secondary and higher-secondary schools, approved by SSA. Hubs will offer 10 futuristic trades or sectors and will have two trainers.

• Spokes will offer 2 trades per site, each staffed with two trainers. The hub and spoke will be connected through satellite communication, provided by Nelco.

Funding: The Tata Group will invest 75% of the total budget, and the remaining 25% of the investment will be made by the Government of Assam.

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