Daily Current Affairs 17th Feb 2025: Your guide for daily General Knowledge Preparation
Dear Readers,
This post contains daily current affairs 17th Feb 2025. It includes all National, International, Business & Sports related current affairs 17th Feb 2025. A brief explanation of every current affair is provided to further enhance your general knowledge. Once you have gone through these current affairs we would recommend to you to try 17th Feb, 2025 Current affairs test.
National News
Government to Form Deregulation Commission to Reduce State’s Role in Governance
- Prime Minister Narendra Modi has announced the establishment of a Deregulation Commission aimed at minimizing government intervention in governance.
- Speaking at the ET Now Global Business Summit, he reaffirmed the government’s dedication to removing bureaucratic bottlenecks and enhancing the ease of doing business.
- This initiative aligns with the larger vision of transforming India into a business-friendly and efficient economy.
President Droupadi Murmu Inaugurates National Tribal Festival ‘Aadi Mahotsav’
- President Droupadi Murmu inaugurated the Aadi Mahotsav, the National Tribal Festival, in New Delhi.
- The festival is being held at the Major Dhyan Chand National Stadium, New Delhi, from February 16 to 24, 2025.
- Organized by the Ministry of Tribal Affairs, the event celebrates India’s rich tribal heritage, culture, and traditions.
International News
Philippines to Procure $200 Million Akash Missile System from India
- India is set to export the Akash missile system to the Philippines in a $200 million defense deal.
- The deal is expected to be finalized in the current fiscal year, further strengthening India’s defense exports and enhancing its strategic ties with the Philippines.
- Developed by DRDO (Defence Research and Development Organisation), the Akash missile system is recognized for its cutting-edge technology, cost-effectiveness, and operational efficiency.
Karnataka Ranks First in Local Governance Performance Index; Uttar Pradesh Climbs 10 Spots
- Karnataka has secured the top position in the 2024 Local Governance Performance Index, marking a major achievement in governance and development.
- The index evaluates various governance aspects, including local body management, finances, capacity building, and accountability.
- Kerala, which was the top performer in 2015-16, has been surpassed by Karnataka.
- Uttar Pradesh (UP) has shown significant progress, rising from 15th to 5th place, indicating improvements in transparency, anti-corruption measures, and overall administration.
Banking News
Bank of Maharashtra Gets RBI Approval for GIFT City Branch
- The Reserve Bank of India (RBI) has granted Bank of Maharashtra (BoM) permission to establish a branch in Gujarat International Finance Tec-City (GIFT City).
- This move aligns with BoM’s strategy to enhance offshore banking operations and expand its presence in global financial services.
SEBI Launches New RPT Portal to Strengthen Corporate Governance
- The Securities and Exchange Board of India (SEBI) has introduced a dedicated portal for Related Party Transactions (RPTs).
- The initiative is aimed at ensuring better transparency, streamlining reporting, and monitoring transactions.
- Listed companies are required to comply with strict disclosure regulations, contributing to a more accountable and transparent financial market.
Indian Banks Expected to See a 10 Basis Points Decline in Margins in FY26
- Fitch Ratings predicts that Indian banks’ Net Interest Margins (NIMs) will shrink by 10 basis points (bps) in FY26.
- The decline follows RBI’s decision to cut the key policy rate by 25 bps to 6.25% in February 2025, marking the first rate cut in nearly five years.
- While the rate cut aims to boost economic activity, it also poses short-term challenges for banks due to lower lending rates.
Axis Bank Commits ₹104 Crore to Ashoka University for Research Development
- Axis Bank has pledged ₹104 crore over four years to support interdisciplinary research at Ashoka University.
- The funding will enhance research initiatives in Neurosciences, Behavioral Studies, and Physics, particularly at the PhD and Post-Doctoral levels.
- The partnership, formalized through an MoU, is expected to foster advanced research and knowledge creation in India.
Business News
Campa Cola Becomes Co-Presenter for IPL 2025, Replacing Thums Up
- Reliance Consumer Products’ Campa Cola has secured the co-presenting sponsorship for IPL 2025, replacing Thums Up.
- The deal is valued at ₹200 crore, signaling Reliance’s growing influence in India’s beverage market.
- This move is part of a broader strategy to expand its product offerings, including new launches like sports drinks during the IPL season.
Meta to Deploy 50,000 km Undersea Cable to Strengthen India-US Digital Connectivity
- Meta has announced Project Waterworth, an initiative to lay 50,000 km of undersea fiber-optic cables.
- The project will enhance internet speed and reliability between India, the US, South America, and Africa.
- This large-scale infrastructure aims to boost global digital connectivity, economic growth, and innovation.
Summits & Conferences News
BRICS Summit 2025 to be Held in Rio Amidst U.S. Tariff Concerns
- Brazil will host the 17th BRICS Summit in Rio de Janeiro on July 6-7, 2025.
- The summit will see the participation of Brazil, Russia, India, China, South Africa, along with new members like Iran, UAE, and Saudi Arabia.
- Discussions will focus on global governance reforms and deepening South-South cooperation, while concerns over US tariff policies may also be addressed.
BHARAT TEX 2025: Showcasing India’s Textile Industry on a Global Platform
- The second edition of BHARAT TEX 2025, a premier textile event, is set to take place from February 14-17, 2025.
- Organized by the Ministry of Textiles, the event will bring together manufacturers, buyers, industry experts, and innovators.
Ranks & Reports News
India Faces Increasing Extreme Weather Events, High Death Toll & Economic Losses
- A report reveals that India accounts for 10% of global extreme weather-related deaths.
- Over the past 30 years (1993-2022), the country experienced 400+ extreme weather events, leading to nearly 80,000 fatalities and $180 billion in economic losses.
- The rising frequency of disasters raises concerns about India’s disaster preparedness and climate resilience.
Important Days
Global Tourism Resilience Day 2025: Celebrating a Robust Tourism Sector
- February 17 marks Global Tourism Resilience Day, which highlights the adaptability and sustainability of the tourism industry.
- It focuses on overcoming pandemics, economic crises, and environmental changes to ensure long-term growth and stability.
Sports News
China Dominates Asian Winter Games; India Misses Out on Medals
- The 9th Asian Winter Games took place in Harbin, China, from February 7-14, 2025.
- Despite participation from 34 countries, India failed to secure a medal.
Jacob Kiplimo Breaks Half-Marathon World Record in Barcelona
- Ugandan athlete Jacob Kiplimo set a new half-marathon world record, completing the race in 56 minutes and 42 seconds.
- His feat surpasses the previous record by 48 seconds, making it one of the greatest improvements in the event’s history.
Obituaries News
Veteran Telugu Actress & Producer C Krishnaveni Passes Away at 102
- C Krishnaveni, a pioneering figure in Telugu cinema, passed away at 102 due to age-related ailments.
