Current Affairs | National | International | SSC | UPSC 17th February 2025

 National News 

1. President Murmu inaugurates Aadi Mahotsav 2025

•  The Aadi Mahotsav 2025, a grand festival celebrating India’s rich tribal heritage, will be held from February 16-24, 2025, at Major Dhyan Chand National Stadium, New Delhi. 
• Organized by the Tribal Co-operative Marketing Development Federation of India Limited (TRIFED) under the Ministry of Tribal Affairs, the event will showcase the vibrant culture, heritage, and economic potential of India’s tribal communities. 
• President of India, Droupadi Murmu, has inaugurated the festival as the Chief Guest. More than 600 tribal artisans, 500 performing artists, and 25 food stalls will participate, representing the diverse traditions of over 30 states and Union Territories. 
• The festival aims to empower tribal communities by providing them with an extensive marketplace to promote their products and reach modern consumers. 
• Secretary of Tribal Affairs – Vibhu Nayar 
• MD of TRIFED – Ashish Chatterjee 

2. West Bengal govt. launched “Nadi Bandhan” Scheme 

• West Bengal Chief Minister, Mamata Banerjee, has launched the “Nodi Bandhan” scheme as part of its 2025-26 budget. 
• The scheme will help combat natural disasters while creating job opportunities. The budget allocates substantial funds for the Ghatal Masterplan, which focuses on flood prevention in West Midnapore. 
• The primary objectives of Nodi Bandhan include combating natural disasters, preventing Ganga-Padma River erosion, and enhancing job opportunities. About West Bengal 
• Capital – Kolkata 
• Chief Minister – Mamata Banerjee 
• Governor – C V Ananda Bose 

3. Recent schemes launched by state government 

• Mobile Operation Theatre (Nagaland) – To provide advanced surgical and healthcare facilities to the remote and rural areas of the state. 
• Bana Kaih Scheme (Mizoram) – To provide financial assistance to farmers growing ginger, turmeric, Mizo chilli, and broomsticks 
• Mukhyamantri Nagar Unnayan Prakalp (Tripura) – To upgrade the drinking water supply in the state’s 12 cities benefiting around four lakh people. 
• Mukhya Mantri Sukh Shiksha Yojana (Himachal Pradesh) – to provide financial support to identified socially and economically vulnerable women and parents of disabled children 

4. Lt. Governor Manoj Sinha inaugurated the 24th Divya Kala Mela at Jammu 

• The 24th Divya Kala Mela commenced at Gulshan Ground, Jammu, with a grand inauguration by Lieutenant Governor of Jammu and Kashmir, Manoj Sinha, and Union Minister for Social Justice and Empowerment, Virendra Kumar. 
• The Department of Empowerment of Persons with Disabilities (DEPwD), under the Ministry of Social Justice and Empowerment, is organizing the 24th Divya Kala Mela in collaboration with the National Divyangjan Finance and Development Corporation (NDFDC). 
• The Divya Kala Mela reflects the Prime Minister’s vision of promoting local artisans and entrepreneurs. The event highlights handmade products, skills, and craftsmanship of Divyang (PwD) entrepreneurs from across India. 
• Previous editions have been successfully held in Delhi, Mumbai, Bhopal, Guwahati, Jaipur, Bengaluru, Chennai, Patna, Nagpur, Pune, and other cities. 

5. BSNL achieves ₹262 crore profit in Q3, first profit since 2007 

• Bharat Sanchar Nigam Limited (BSNL) has announced a ₹262 crore profit for the third quarter of the financial year, its first since 2007. 
• The company attributed the success to focused efforts on innovation, aggressive network expansion, cost optimisation, and customer-centric service improvements. 
• Revenue from Mobility, FTTH, and Leased Lines has increased by 15%, 18%, and 14% respectively over Q3 of the previous year. Additionally, BSNL has successfully reduced its finance cost and overall expenditure, leading to a decline in losses by over ₹1,800 crore compared to last year. 
• Chairman and MD of BSNL – Robert J. Ravi 

6. Rafi Saab to be face of new ₹100 commemorative coin 

• To mark birth centenary of legendary playback singer late Mohammed Rafi, Government has decided to issue a commemorative coin with the denomination of ₹ 
• Though commemorative coins are considered legal tender, they are not released for general circulation. One can source them from the specified agencies. 
•  According to a notification, shape will be circular with outside diameter of 44 millimeters. The number of serrations will be 200. The metal composition will be a quaternary alloy with a composition of silver (50 per cent), copper (40 per cent), nickel (05 per cent) and zinc (05 per cent). 
• The face of both the coins will bear the lion capital of Ashoka Pillar in the centre with the legend ‘Satyamev Jayate’ inscribed below, flanked on the left periphery with the word ‘Bharat’ in Devnagri script and on the right periphery with the word ‘India’ in English. 
• Rafi (born December 24, 1924, Kotla Sultan Singh, near Amritsar, Punjab—died July 31, 1980, Bombay aka Mumbai) was a legendary Indian playback singer who recorded more than 25,000 film songs in a career spanning almost 40 years. 

7. Delhi’s Mohalla Clinics to be renamed ‘Ayushman Arogya Mandirs’ 

• The BJP government plans to rename Delhi’s Mohalla Clinics as ‘Ayushman Arogya Mandirs’ while keeping the existing infrastructure intact. 
• Despite the name change, the doctors and staff at these clinics will continue providing healthcare services under the new system. 

8. A Deregulation commission will be set up to reduce the government role in governance 

• Prime Minister Narendra Modi announced that a deregulation commission will be constituted to reduce the role of the government in all spheres of governance. 
• It would be set up to reduce the compliance burden on society and minimize govt interference. 
• The government has ended hundreds of compliances through Jan Vishwas 2.0. 
• The government has opened many new sectors including nuclear energy, space, commercial mining and power distribution for investment and bring in efficiency. 

9. On February 14, the Ayushman Bharat Vay Vandana Scheme was ocially launched in Puducherry

 

• The scheme was formally inaugurated by Puducherry Lieutenant Governor K. Kailashnathan in the presence of Chief Minister N. Rangasamy, and insurance scheme cards were distributed to eligible senior citizens. 
• The lieutenant governor urged the health workers to spread awareness about such schemes for senior citizens so that more and more people can benefit. 
• This scheme provides medical benefits to senior citizens.
• Under the Ayushman Bharat Vay Vandana Scheme, the central government provides free health insurance coverage of up to Rs 5 lakh per year to senior citizens aged 70 years and above. 
• On 29 October, 2024, PM Modi launched the Ayushman Vaya Vandana Card as part of the Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY). 
• The card covers treatment for around 2,000 medical procedures and covers all pre-existing illnesses from day one, without any waiting period. 

International News 

10. The 8th Indian Ocean Conference took place in Muscat, Oman, from February 16–17 

• The India Foundation organized it in collaboration with the Ministry of Foreign Affairs of Oman.
• "Voyages to New Horizons of Maritime Partnership" was the conference's theme. 
• At the opening of the 8th Indian Ocean Conference in Muscat, External Affairs Minister Jaishankar spoke on "Voyage to New Horizons of Maritime Partnership." 
• Later this year, Bangkok, Thailand, will host the 6th Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) Summit from April 2–4. 
• Bangladesh will serve as the BIMSTEC summit's next chair. 
• India is leading connectivity projects including the International North South Transport Corridor (INSTC) and the India-Middle East-Europe Economic Corridor (IMEC). 

11.BRICS summit will be hosted in Rio de Janeiro by Brazil in July 

• The next BRICS summit, featuring Brazil, Russia, India, China, South Africa, and other member countries, has been announced to be held in Rio de Janeiro on July 6-7 by the Brazilian government. 
• The summit will be attended by leaders of 20 member and partner countries. 
• The BRICS is aimed at strengthening ties with developing nations and reforming global institutions under Brazil’s leadership. 
• The BRICS group was founded in 2009 by Brazil, Russia, India, and China, with South Africa being joined in 2010, as a counterbalance to the Group of Seven leading industrialized nations. 
• In 2024, the group is expanded to add Iran, Egypt, Ethiopia, and the United Arab Emirates. 
• Saudi Arabia has also been invited to join.  Turkey, Azerbaijan, and Malaysia have formally applied for membership, and several other countries have expressed interest. 
• Recently, the bloc welcomed Indonesia as one of its 11 members and Nigeria as a partner country, a designation introduced at last year’s summit in Kazan. 

12. European nations to meet in Paris today to discuss security

 

• France's President Emmanuel Macron will host leaders from key European countries on Monday to discuss the continent's security, Foreign Minister Jean Noel Barrot said, amid growing concerns ov-er U.S. efforts to end the Ukraine war. 
• U.S. President Donald Trump blindsided Ukraine and its European bakers this week by starting discussions on Russia's invasion in a call with his Russian counterpart Vladimir Putin. 
• The new U.S. administration has also warned its NATO allies that Europe will no longer be its top security priority and it may shift forces as it switches focus to China. 
•  "The President will Emmanuel Macron bring together the main European countries tomorrow for discussions on European security," Mr. Barrot told the France Inter radio broadcaster on Sunday. 
• The meeting in Paris on Monday afternoon was to include Britain, Germany, Poland, Italy, Denmark and NATO chief Mark Rutte and EU chief Ursula von der Leyen, a European diplomatic source said. 

Business News 

13. Announcement of U.S. trade pact gives relief to businesses’

 

• The announcement to ne-gotiate a bilateral trade agreement between India and the U.S. has boosted business confidence in both countries, as it can help further strengthen economic ties by leveraging their competitive strengths, Commerce and Industry Minister Piyush Goyal said on Sunday. 
• During the recent visit of Prime Minister Narendra Modi to Washington, India and the U.S. announced to more than double the two-way commerce to $500 billion by 2030 and negotiate the first tranche of a mutually beneficial, multisector bilateral trade agreement (BTA) by fall of 2025. 
• 'Work as two friends' 
• "The Prime Minister has brought back with him an agreement or an under-standing to enter into a trade deal by fall of this year. I think, it gives a lot of confidence and a lot of relief to every business person in the U.S. and in India who believe that together, we can truly transform world trade, together with our competitive strengths in different areas, we can truly work as two friends, as two partners for progress and prosperity," Mr. Goyal said.
•  Normally in a free trade agreement, two trading partners either eliminate or significantly reduce customs duties on the maximum number of goods traded between them. Besides, they also ease norms to promote trade in services and boost investments. 
• During the first term of U.S. President Donald Trump, the two countries had discussed a mini-trade deal, but it was shelved by the Joe Biden administration as they were not in favour of such pacts. 
• Mr. Goyal also said that India is expanding and forging new partnerships across the world with new trade agreements with the developed world including with Australia, the UAE, and EFTA bloc. 

14. India and Sri Lanka will strengthen their bilateral mining, exploration, and critical minerals partnerships

•  To explore cooperation in important minerals that are essential for economic growth, they held a meeting. 
• The potential of Sri Lanka's abundant beach sand and graphite resources in high-tech industries, battery technology, and sustainable energy was emphasized. 
• Finalizing a Memorandum of Understanding (MoU) on collaboration in geology and mineral resources between Sri Lanka and India was discussed. 
• The leaders talked about enhancing cooperation so that Indian companies may explore mining prospects in Sri Lanka and take part in the development of its beach sand and graphite resources. 
• In order to ensure a consistent supply of vital raw materials such as lithium, graphite, nickel, cobalt, and copper, India's National Critical Mineral Mission was highlighted during the discussion. 
• In order to acquire global mineral assets, India is forming multinational alliances and securing mining rights for essential minerals. 
• Opportunities for technological cooperation, investment, and exploration in the mining industry were explored by both nations. 

15.ADNOC Gas and Indian Oil Corporation signed a 14-year LNG Supply Agreement 

• ADNOC Gas has finalized a long-term agreement with Indian Oil Corporation Ltd to supply liquefied natural gas. 
• The 14-year sales and purchase agreement (SPA) is valued between $7 billion and $9 billion. 
• ADNOC will provide 1.2 million tonnes of LNG annually from 2026 to Indian Oil Corporation. 
• This agreement has converted the previous ‘Heads of Agreement’ between the parties into a SPA. 
• It will help India in achieving the ambitious goal of increasing gas usage to 15% of its primary energy mix by 2030. 
• The LNG will be sourced from ADNOC Gas’s Das Island facility. It is one of the world’s longest-operating LNG plants. 

16. SEBI proposed new measures to strengthen the regulatory framework for ESG Rating Providers (ERPs) 

• The SEBI has proposed additional provisions to strengthen the framework for ESG rating providers (ERP). 
• The main aim of the new measures to strengthen the regulatory framework for ESG Rating Providers (ERPs) is to enhance transparency and accountability.
•  The proposal is focused on key areas such as the withdrawal of ESG ratings and disclosure of rating rationale. 
• Under the subscriber-pays model, SEBI has proposed that ERPs can withdraw a rating if there are no subscribers for the rating. 
• Under the issuer-paid model, ERPs will be able to withdraw ratings after rating a security for three consecutive years, or 50 per cent of the tenure of the security – whichever is higher – and receiving approval from 75 per cent of bondholders based on value. 
• Sebi has also proposed that ERPs following a subscriber-pays model should share detailed rating rationales and reports only with subscribers and not disclose them on their websites. 
• As per new measures, internal audits and composition of nomination and remuneration committee (NRC) for Category-II ERPs will be necessary two years after the issuance of the new rules. 
• ESG stands for environmental, social and governance. 

17. SIDBI and AFD, France signed a $100 million credit facility agreement 

• This agreement has been signed to scale up green finance solutions for Indian MSMEs. 
• A credit line of $100 million will be provided by AFD to SIDBI.
• Under the agreement, the credit line will be to deploy the funds to expand access to affordable financing for MSMEs. 
• This will be for MSMEs investing in energy-efficient technologies, renewable energy solutions, and climate-friendly business practices. 
• AFD is a public financial institution. It implements the development and international solidarity policies of France 

Economy News 

18. India's foreign exchange reserves rose for the third consecutive week, reaching $638.26 billion 

• On February 14, according to data released by the Reserve Bank of India (RBI), India's foreign exchange reserves continued to increase for the third consecutive week, bringing an end to the months-long decline. 
• The country's foreign exchange reserves increased by $7.65 billion to $638.261 billion in the week ended February 7. 
• The improvement comes after a sharp decline that saw stocks fall in 15 of the past 16 weeks, hitting an 11-month low. 
• India's reserves have been declining steadily since hitting an all-time high of $704.89 billion in September, representing a drop of nearly 10% from the peak. 
• The main reason for this decline was attributed to the intervention by the RBI to stabilize the Indian rupee, which is at its record low against the US dollar. 
• The latest data showed that foreign currency assets (FCA), the biggest component of India's forex reserves, stood at $544.106 billion, while gold reserves were valued at $72.208 billion. 
• In 2023, India adds about $58 billion to its reserves, a significant jump from the $71 billion drop seen in 2022. 
• In 2024, the reserves have so far increased by over $20 billion. 
• Foreign exchange reserves consist of assets held by the RBI in various reserve currencies such as the US dollar, euro, Japanese yen, and pound sterling, which are crucial for liquidity management and ensuring economic stability. 

Appointment News 

19. A new President and Vice President have been appointed by ICAI for the term 2025-26 

• Charanjot Singh Nanda has been appointed as the new President of the Institute of Chartered Accountants of India (ICAI), the world’s largest accountancy body, for the term 2025–26. 
• The Central Council of ICAI elected Nanda, who previously served as the Vice-President of ICAI, as the 73rd President during a meeting in New Delhi. 
• D. Prasanna Kumar, a chartered accountant from Andhra Pradesh, was elected vice-president. 
• Arjun Ram Meghwal, who is currently serving as the Minister of State for Law and Justice and Parliamentary Affairs, administered the oath of office. 
• The leadership of the post of President has been handed over from CA Ranjeet Kumar Agarwal to CA Charanjot Singh Nanda, and the responsibility of the post of Vice President has been handed over from CA Charanjot Singh Nanda to CA Prasanna Kumar D. 
• Nanda became a Chartered Accountant in 1991 and also served as Chairman of the Northern India Regional Council (NIRC) for the term 2002-03. 
• Institute of Chartered Accountants of India (ICAI): 
• It is the largest professional accounting organization in India, functioning under the administrative supervision of the Ministry of Corporate Affairs, Government of India. 
• Established on 1 July 1949, it was constituted as a statutory body through the Chartered Accountants Act, 1949, enacted by the Parliament to oversee the promotion, advancement, and regulation of the chartered accountancy profession in the country. 
• It is headquartered in New Delhi. 

Award News

 20. ‘Conclave’ won the best picture award at the 78th British Academy Film Awards 

• Papal thriller ‘Conclave’ won four prizes including best picture at the British Academy Film Awards. 
• ‘The Brutalist’ also won four awards including best director for Brady Corbet and best actor for Adrien Brody
• .Mikey Madison won the best actress prize for Anora. 
• The 78th edition of the British Academy Film Award ceremony took place at London’s Southbank Centre. 
• Conclave was also named outstanding British film and it took trophies for editing and adapted screenplay. 
• Wallace and Gromit: Vengeance Most Fowl won awards for best animated feature and best family and children’s film. 
• Most BAFTA winners are chosen by 8,000 members of the U.K. academy of industry professionals.

• Best Film	Conclave
  Best Outstanding British Film	Conclave
  Best Director	Brady Corbet (The Brutalist)
  Best Leading Actress	Mikey Madison (Anora)
  Best Leading Actor	Adrien Brody (The Brutalist)
  Best Supporting Actress	Zoe Saldaña (Emilia Pérez)
  Best Supporting Actor	Kieran Culkin
  Best Original Screenplay	Jesse Eisenberg
  Best Adapted Screenplay	Peter Straughan (Conclave)
  Best Animated Film	Wallace and Gromit: Vengeance Most Fowl
  Best Documentary	Super/Man: The Christopher Reeve Story
  Best Film Not in the English Language	Emilia Pérez

Important Day News 

21. 17 February – Global Tourism Resilience Day 

• Global Tourism Resilience Day is observed every year on February 17 to promote sustainable and resilient tourism practices worldwide. 
• The day highlights the importance of preparedness, crisis management, and recovery strategies to support the tourism industry against global challenges like pandemics and climate change. 
• Established by the United Nations General Assembly in resolution A/RES/77/269, Global Tourism Resilience Day is more than just a celebration, it is a global commitment to strengthening tourism against future shocks.