Table of Contents
National News
Government to Establish Deregulation Commission to Reduce State’s Role in Governance
Prime Minister Narendra Modi announced the formation of a Deregulation Commission aimed at reducing the role of the state in governance. Speaking at the ET Now Global Business Summit, Modi emphasized the government’s commitment to eliminating bureaucratic hurdles and promoting ease of doing business. This move aligns with the broader vision of transforming India into a more business-friendly and efficient economy.
President Droupadi Murmu Inaugurates National Tribal Festival ‘Aadi Mahotsav’ in New Delhi
The National Tribal Festival ‘Aadi Mahotsav’ was inaugurated by the President of India, Smt. Droupadi Murmu, in New Delhi on February 16, 2025. The festival, organized by the Ministry of Tribal Affairs, is a celebration of India’s rich tribal heritage, culture, and traditions. The event is being held at Major Dhyan Chand National Stadium, New Delhi, from February 16 to 24, 2025.
International News
Philippines Set to Acquire $200 Million Akash Missile System from India
India is making strides in its defense exports, with a potential $200 million deal on the table for the supply of its Akash missile system to the Philippines. This deal, which is expected to be finalized in the current fiscal year, highlights India’s growing presence in the global defense market and strengthens ties with the Philippines, a nation that is actively enhancing its military capabilities. The Akash missile system, developed by India’s Defence Research and Development Organisation (DRDO), has attracted international attention due to its advanced technology, cost-effectiveness, and operational efficiency.
State News
Karnataka Tops Local Governance; UP Rises 10 Places
Karnataka has topped the 2024 Local Governance Performance Index, a significant milestone in the state’s growth and development. The Local Governance Performance Index evaluates various aspects such as local body management, finances, capacity building, and accountability. Karnataka’s strong performance highlights its effective management of local governance, surpassing Kerala, which was the leader in 2015-16. Alongside Karnataka’s achievement, Uttar Pradesh (UP) has shown remarkable improvement, climbing from 15th to 5th place in this year’s rankings. This leap signals a positive change in UP’s approach to local governance, with improvements in transparency, anti-corruption measures, and overall administrative structures.
Banking News
Bank of Maharashtra Receives RBI Approval to Establish Branch in GIFT City
The Reserve Bank of India (RBI) has granted permission to the Bank of Maharashtra (BoM) to set up a branch in Gujarat International Finance Tec-City (GIFT City). This strategic move aims to enhance BoM’s offshore banking operations from India, aligning with the bank’s expansion plans in the region.
SEBI Enhances Corporate Governance with New RPT Portal
In a bid to enhance corporate governance and ensure better transparency in the Indian securities market, the Securities and Exchange Board of India (SEBI) has launched a dedicated portal for Related Party Transactions (RPT). This move is aimed at streamlining the reporting and monitoring of RPTs, ensuring that listed entities adhere to stringent disclosure norms. The new RPT portal represents a significant effort in SEBI’s ongoing mission to create a more transparent and accountable market environment.
Indian Banks’ Margins to Drop 10 Bps in FY26
Indian banks are set to experience a decline in their net interest margins (NIMs) by an estimated 10 basis points in the financial year 2025-26, as per a report by Fitch Ratings. This forecast follows the Reserve Bank of India’s (RBI) decision to lower the key policy rate by 25 basis points to 6.25% in February 2025. The rate cut marks the first such move in nearly five years, signaling the beginning of an easing cycle aimed at boosting economic activity. However, it also brings challenges for banks as lower lending rates are expected to squeeze margins, especially in the short term.
Axis Bank Pledges ₹104 Crore to Ashoka University for Research Growth
In a major boost to interdisciplinary research in India, Axis Bank has committed ₹104 crore to Ashoka University over the next four years. The funding aims to strengthen the university’s PhD and Post-Doctoral programs while enhancing its research capabilities in Neurosciences, Behavioral Studies, and Physics. This partnership, formalized through a Memorandum of Understanding (MoU), is expected to create new opportunities for students and researchers while addressing critical global challenges.
Business News
Campa Cola Replaces Thums Up as IPL 2025 Co-Presenter
Campa Cola, a beverage brand owned by Reliance Consumer Products, has secured the co-presenting rights for the Indian Premier League (IPL) 2025. The deal, valued at Rs 200 crore, marks a significant shift in India’s beverage market, traditionally dominated by global giants like Coca-Cola. The move highlights Reliance’s strategy to rapidly scale its presence across India and to introduce more products, including sports drinks, during the IPL season.
Meta’s 50,000 km Cable to Boost India-US Digital Connectivity
Meta has launched an ambitious project named Project Waterworth, which will lay down a 50,000-kilometer undersea cable to improve digital connectivity between India and the United States. This initiative is expected to offer faster and more reliable internet services across multiple regions, not just between India and the US, but also in South America and Africa. With the growing importance of digital connectivity, this project is set to become a crucial infrastructure for facilitating economic growth, digital inclusion, and innovation on a global scale.
Summits and Conferences News
BRICS Summit in Rio Amid U.S. Tariff Threats
Brazil is preparing to host the 17th BRICS Summit in Rio de Janeiro on July 6-7, 2025. This high-profile gathering will bring together leaders from Brazil, Russia, India, China, South Africa, and a select group of invited nations. The summit will serve as an essential platform to discuss crucial global governance reforms and deepening cooperation among countries from the Global South. Established in 2009, the BRICS bloc has grown significantly, now including nations like Iran, Egypt, Ethiopia, the United Arab Emirates, and Saudi Arabia. Turkey, Azerbaijan, and Malaysia are among the countries also seeking membership. This year’s summit is expected to address critical issues that will shape the future of BRICS nations and their global influence.
BHARAT TEX 2025: A Premier Global Textiles Event Showcasing India’s Textile Industry
BHARAT TEX 2025, one of the largest global textiles events, is returning with its second edition from February 14 to 17, 2025. This prestigious event, backed by the Ministry of Textiles, aims to showcase India’s textile industry to the world by bringing together key stakeholders, including manufacturers, buyers, industry experts, and innovators.
Ranks & Reports News
India’s Extreme Weather Crisis: Rising Deaths & Economic Losses
India is witnessing a sharp rise in extreme weather events, with devastating consequences for human life and the economy. A recent report highlights that the country accounts for 10% of global deaths due to extreme weather, making it one of the worst-hit nations. From 1993 to 2022, India recorded over 400 extreme weather events, leading to nearly 80,000 deaths and an estimated economic loss of $180 billion. The frequency of these disasters is increasing, raising serious concerns about the country’s preparedness and response.
Important Days News
Global Tourism Resilience Day 2025: Key Highlights, Significance, Date
Global Tourism Resilience Day, observed annually on February 17, is a significant occasion dedicated to celebrating the strength and adaptability of the tourism industry. This day emphasizes the importance of a resilient tourism sector that can overcome challenges like pandemics, economic crises, and environmental changes, ensuring continued economic growth, cross-cultural exchange, and sustainability. The observance encourages nations to develop strategies that strengthen the tourism sector against future disruptions.
International Childhood Cancer Day, History, Importance
International Childhood Cancer Day (ICCD), observed on February 15 each year, is a global movement focused on raising awareness about childhood cancer and advocating for improved treatments and support for young cancer patients and their families. Established in 2002 by Childhood Cancer International (CCI), ICCD emphasizes the need for early detection, better healthcare accessibility, and continuous medical research. The day highlights the challenges faced by children battling cancer and promotes community participation in addressing these issues.
Sports News
Asian Winter Games: China Leads, India Misses Medal Mark
The 9th Asian Winter Games were held in Harbin, Heilongjiang Province, China, from February 7 to February 14, 2025. The event played a crucial role in promoting winter sports across Asia and saw the participation of athletes from 34 countries. Organized by the Olympic Council of Asia (OCA) and supported by the International Skating Union (ISU), the games featured 64 events across 11 winter sports disciplines. The official mascots, “Binbin” and “Nini” (tigers), and the motto “Dream of Winter, Love among Asia” symbolized unity and passion for winter sports.
Jacob Kiplimo Breaks Half-Marathon World Record in Barcelona
Ugandan runner Jacob Kiplimo made history in Barcelona by shattering the world half-marathon record. The 24-year-old, who reclaimed the title he held in 2021, set a new record by finishing the 21.0975 km race in an astounding 56 minutes and 42 seconds. This performance was a remarkable 48 seconds faster than the previous world record, set by Ethiopia’s Yomif Kejelcha in November 2024. Kiplimo’s extraordinary achievement is being hailed as the greatest single improvement in the men’s world half marathon record in history.
Obituaries News
C Krishnaveni, Pioneer of Telugu Cinema, Dies at 102
C Krishnaveni, the veteran Telugu actor and producer, passed away at the age of 102 in Hyderabad on Sunday due to age-related issues. She is remembered for her significant contributions to the Telugu film industry, particularly for introducing legendary figures like NT Rama Rao (NTR) and Ghantasala Venkateswara Rao to the screen. Krishnaveni’s legacy as a multifaceted talent includes her work as an actor, singer, and producer. Below are key highlights of her life and career.
Noted Bengali Vocalist Pratul Mukhopadhyay Passes Away
Renowned Bengali vocalist, composer, and lyricist Pratul Mukhopadhyay breathed his last at the age of 83. Mukhopadhyay, known for his soulful and revolutionary songs, played an integral role in shaping the musical landscape of Bengal. His timeless compositions like Ami Banglar Gaan Gai and Dinga Bhasao Re became synonymous with the cultural identity of West Bengal.
19th February 2025 Current Affairs (Dail...
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