Daily Current Affairs 18th October 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

India’s Cumulative Exports Rise 4.45% to US$ 413.30 Billion in April–September 2025

• India’s total exports (merchandise + services) for April–September 2025 are estimated at US$ 413.30 billion, showing a 4.45% growth over the same period in 2024.
• Merchandise exports rose by 3.02% to US$ 220.12 billion, while non-petroleum exports increased by 7.04%, reflecting broad-based growth beyond traditional sectors.
• Major export growth drivers in September 2025 include: Electronic Goods (up 50.54%), Rice (33.18%), Marine Products (23.44%), Petroleum Products (15.22%) and Engineering Goods (2.93%).
• Total exports in September 2025 stood at US$ 67.20 billion, while imports were higher at US$ 83.82 billion, resulting in a monthly trade deficit of US$ 16.61 billion.
• In the services sector, exports during April–September 2025 were estimated at US$ 193.18 billion, generating a surplus of US$ 95.50 billion, which is higher than the previous year.
• Top export destinations showing strong growth: UAE, USA, China, Spain, and Bangladesh. Top import sources with sharp increases: Switzerland, UAE, China, Saudi Arabia, and Nigeria.
• The International Monetary Fund (IMF) has upgraded India’s GDP growth forecast for 2025 to 6.6%, citing robust Q1 performance and economic resilience despite higher U.S. tariffs on Indian exports.

Bajaj Finserv AMC Introduces ‘Pay with Mutual Fund’ Feature to Enable UPI-Based Payments

• Bajaj Finserv Asset Management Company (AMC) has launched a new feature called ‘Pay with Mutual Fund’, allowing investors to make UPI payments using mutual fund units.
• The feature enables investors to use their mutual fund investments for daily expenses, blending investment and spending
• With ‘Pay with Mutual Fund’, investors can earn better returns through liquid funds compared to a traditional savings account, while retaining instant access to funds for daily use.
• The redemption limit follows the Insta Redemption facility, allowing investors to redeem up to ₹50,000 or 90% of investment (whichever is lower)
• The feature is being launched in collaboration with Curie Money, a fintech platform that enables seamless UPI transactions directly from mutual fund accounts.
• The process is simple — by scanning a QR code and approving the payment, a redemption request is automatically triggered in the background.
• This ensures that investors can continue using UPI for everyday transactions without disruption, while their money remains invested efficiently.
• Since its launch in June 2023, Bajaj Finserv AMC has shown strong growth, with a total Assets Under Management (AUM) of ₹28,814 crore.
• Managing Director, Bajaj Finserv AMC : Ganesh Mohan

Curie Money Opens UPI + Investment App to All Users After NPCI Approval

• Curie Money has launched its UPI + investment application to all users after receiving NPCI approval, marking a significant step in India’s fintech innovation.
• The app merges UPI payments and investments, automatically investing unused funds in liquid mutual funds and redeeming them instantly when payments are made.
• Users can instantly withdraw up to ₹50,000 or 90% of their investment value, with the remaining funds redeemable within one working day.
• Curie has partnered with ICICI Prudential Mutual Fund and Bajaj Finserv AMC to manage investments.
• Founded in 2022 by Arindam Ghosh and Tushar Choudhary, Curie raised $1.2 million in seed funding in December 2024.
• The platform converts idle money into earning capital while maintaining instant payment access, combining liquidity with returns.
• Lxme, a women-focused financial platform founded in 2021 by Priti Rathi Gupta and Ridhi Doongursee, launched LxmePay, a UPI facility exclusively for women.
• LxmePay offers digital gold rewards, cashbacks, budget trackers, and personalized insights to encourage women’s financial participation.

Indian Travellers to Use UPI for Payments in Japan After NIPL–NTT DATA Partnership

• Indian travellers visiting Japan will soon be able to use the Unified Payments Interface (UPI) for everyday transactions, following an agreement between NPCI International Payments Limited (NIPL) and NTT DATA Japan.
• Under the MoU, NIPL and NTT DATA will integrate UPI payments into merchant outlets across Japan, enabling Indian users to scan QR codes and pay instantly in INR, removing the need for currency conversion or foreign cards.
• NTT DATA, which operates CAFIS, Japan’s largest card transaction processing network, will facilitate the integration, connecting merchants, banks, and ATMs nationwide.
• The collaboration aims to expand UPI’s global footprint, offering Indian tourists a seamless, cashless, and secure digital payment experience
• Currently, UPI payments are accepted in countries such as Bhutan, France, Mauritius, Nepal, Singapore, Sri Lanka, and the UAE, while integration in Qatar, Oman, and the UK is under planning or limited rollout.
• The initiative will enhance travel convenience, reducing dependence on foreign cards and currency exchanges, and represents a key step in India’s fintech diplomacy and global digital payment leadership.
• It also promotes financial inclusion by offering low-cost, cross-border payment solutions and supports India’s economy by facilitating global transactions for travellers, students, and businesses.

Reserve Bank of India Frequently Asked Questions – Indian Currency

• The Indian currency is called the Indian Rupee (INR), and 1 Rupee = 100 Paise.
• The symbol ₹ resembles both the Devanagari “ra” (र) and the Latin “R”, with a double horizontal line at the top.
• Legal Tender refers to coins or banknotes that must be accepted for payment or discharge of debt.
• Coins issued under Section 6 of The Coinage Act, 2011 are legal tender if not defaced or underweight.
• Coins of ₹1 and above are legal tender up to ₹1,000, and 50 paise coins up to ₹10 per transaction.
• Banknotes issued by the Reserve Bank of India (₹2–₹2000) are legal tender across India, guaranteed by the Central Government under Section 26(2) of the RBI Act, 1934.
• ₹1 notes issued by the Government of India are also legal tender.
• ₹500 and ₹1000 notes of the old Mahatma Gandhi series ceased to be legal tender from November 8, 2016, while ₹2000 notes remain legal tender as per the RBI press release dated September 1, 2023.

Key Highlights :

• Banknotes are printed at four currency presses — two under SPMCIL (Nasik and Dewas) and two under BRBNMPL, a wholly owned RBI subsidiary (Mysuru and Salboni).
• Coins are minted at four SPMCIL mints located in Mumbai, Hyderabad, Kolkata, and NOIDA, and are issued for circulation only through the RBI under Section 38 of the RBI Act.
• Currency chests are storehouses set up by authorised scheduled banks to stock banknotes and coins on behalf of the RBI for distribution to bank branches.
• As of February 28, 2025, there were 2,691 currency chests in India.
• Small coin depots are authorised by banks to store and distribute small coins (below ₹1 denomination).
• As of February 28, 2025, there were 2,299 small coin depots in operation.
• Under Section 22 of the RBI Act, the Reserve Bank has the sole authority to issue banknotes in India.
• As per Section 25, the design, form, and material of banknotes are approved by the Central Government based on RBI’s recommendations.
• The RBI estimates annual currency needs, ensures clean note circulation, and destroys soiled or mutilated notes.
• For coins, the Government of India handles minting and design, while the RBI manages distribution as per the Coinage Act, 2011.
• The RBI manages currency operations through 19 Issue Offices located in major cities like Mumbai, Delhi, Chennai, Kolkata, Bengaluru, etc.
• The RBI does not buy or sell old banknotes or coins.
• It issued a press release on August 4, 2021, warning the public not to fall for fake offers regarding the purchase or sale of old currency.

CURRENT AFFAIRS : INTERNATIONAL NEWS

16th WHO–IRCH Annual Meet Opens in Jakarta to Boost International Collaboration on Herbal Medicine Regulation

• The 16th Annual Meeting of the World Health Organization–International Regulatory Cooperation for Herbal Medicines (WHO–IRCH) was held in Jakarta, Indonesia, from 14th to 16th October 2025.
• The meeting focused on enhancing international cooperation to ensure the safety, quality, and efficacy of herbal medicines.
• India participated through an active delegation led by Raghu Arackal, Advisor (Ayurveda) and Deputy Director General (I/c), Ministry of Ayush.
• India’s participation reaffirmed its commitment to strengthening global collaboration and advancing international benchmarks in herbal medicine regulation.
• A major highlight was the release of the Proceedings of the WHO–IRCH Workshop on
  • “Safety and Regulation of Herbal Medicines” (Working Group-1) and
  • “Efficacy and Intended Use of Herbal Medicines” (Working Group-3).
• The WHO–IRCH Workshop was organized by the World Health Organization and hosted by the Ministry of Ayush, with support from Pharmacopoeia Commission for Indian Medicine and Homoeopathy (PCIM&H), held from 6th to 8th August 2025 in Ghaziabad, India.
• The three-day meeting in Jakarta emphasized the collective commitment of WHO–IRCH member countries to promote the safe, effective, and quality use of herbal medicines

United States Unveils $20 Billion Aid Package to Support Argentina’s Economic Recovery

• The United States announced a $20 billion financial aid package to help Argentina tackle its worsening currency and economic crisis.
• The announcement followed a bilateral meeting between US President Donald Trump and Argentine President Javier Milei at the White House.
• The aid package aims to stabilize Argentina’s economy, restore investor confidence, and prevent financial collapse ahead of midterm elections on 26th October 2025.
• Argentina’s economy is struggling with high inflation, currency devaluation, and rising public debt.
• Since coming to power in 2023, President Javier Milei has implemented libertarian-style economic reforms, including public spending cuts, mass layoffs, and deregulation.
• These measures have led to public protests, political instability, and a sharp fall in investor confidence.
• The US aid package focuses on currency stabilization, replenishing foreign reserves, and supporting economic reforms.
• The support may include loans, credit guarantees, budgetary aid, and technical collaboration with global institutions such as the IMF and World Bank.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Union Environment Minister Shri Bhupender Yadav represents India at the G20 Environment Ministers’ Meeting at Cape Town, South Africa

• Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav, delivered India’s statement at the G20 Environment Ministers’ Meeting in Cape Town, South Africa.
• He thanked South Africa for leading efforts on the theme ‘Solidarity, Equality, Sustainability’ and called for a world united in purpose, equal in rights and resources, and committed to the planet.
• Highlighted that with the 10th anniversary of the Paris Agreement, countries have set and, in many cases, started achieving their Nationally Determined Contributions (NDCs), including India, ahead of timelines.
• Emphasized that the G20 must bridge ambition and implementation, respecting each nation’s contributions and enhancing their capacities. He reaffirmed ‘Common but Differentiated Responsibilities and Respective Capabilities’ and stressed that climate finance to developing countries is a duty, not a privilege.
• Urged a ‘whole-of-the-society’ approach and pro-planet lifestyle choices for individuals to ensure meaningful outcomes.
• Expressed support for the people-centric, holistic, integrated, and collaborative approach proposed by the South African G20 Presidency.

RECENT NEWS

• In a significant step toward sustainable coexistence between humans and wildlife, Union Minister for Environment, Forest and Climate Change Bhupendra Yadav has announced the establishment of a Centre of Excellence (CoE) for human-wildlife conflict management.

Union Minister of State Shri Jitin Prasada to Inaugurate Uttarakhand AI Impact Summit 2025 in Dehradun

• The Government of Uttarakhand, in collaboration with the India AI Mission, Ministry of Electronics and Information Technology (MeitY), is organising the Uttarakhand AI Impact Summit 2025 at Hotel Ramada, Dehradun.
• This event serves as a pre-summit to the India–AI Impact Summit 2026, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi.

Key Highlights

• The summit will be attended by Shri Jitin Prasada, Minister of State, MeitY and Commerce & Industry, and senior officials from MeitY and the Uttarakhand government.
• The India–AI Impact Summit 2026 is the first global AI forum to be hosted in the Global South, showcasing India’s leadership in AI governance and innovation under the vision of “AI for All”.
• The Uttarakhand summit focuses on responsible and inclusive AI adoption, fostering innovation, entrepreneurship, improved governance, and sustainable development in the state.
• The Summit is guided by three Sutras:
  • People – AI must serve humanity inclusively, respecting cultural identities and ensuring accessibility.
  • Planet – AI development must be resource-efficient, environmentally sustainable, and aligned with climate resilience goals.
  • Progress – AI benefits should be equitably distributed and applied across healthcare, education, governance, and agriculture.
• The Sutras are operationalised through seven Chakras:

1. Human Capital – Employment, reskilling, and workforce development.
2. Inclusion for Social Empowerment – Accessible AI for all, preventing bias.
3. Safe and Trusted AI – Transparency, auditing, and governance mechanisms.
4. Resilience, Innovation, and Efficiency – Resource-efficient and adaptable AI solutions.
5. Science – AI-driven research, partnerships, and open interdisciplinary innovation.
6. Democratizing AI Resources – Equitable access to data, compute, and models.
7. AI for Economic Development & Social Good – Scalable AI applications in public interest sectors.

• The Summit will feature presentations by AI-led startups, discussions on AI governance, and will chart a path for sustainable, innovation-led growth in Uttarakhand.
• The event underscores India’s role as a global convener for AI, particularly in the Global South, ensuring AI adoption delivers inclusive, ethical, and measurable impact.

About Uttarakhand:

• Chief Minister: Pushkar Singh Dhami
• Capital: Dehradun
• Governor: Gurmit Singh
• National Parks: Jim Corbett National Park, Nanda Devi National Park, Rajaji National Park, Gangotri National Park, Valley of Flowers National Park
• Wildlife Sanctuaries: Kedarnath Wildlife Sanctuary, Askot Wildlife Sanctuary, Binsar Wildlife Sanctuary, Govind Wildlife Sanctuary, Sonanadi Wildlife Sanctuary, Nandi Devi Wildlife Sanctuary

RECENT NEWS

• Uttarakhand marked a historic moment in Indian sports by hosting the Asian Cadet Cup India-2025 in Haldwani, inaugurated by Chief Minister Pushkar Singh Dhami on September 19, 2025. Organised by the Fencing Association of India, the international tournament is being held at Manaskhand Hall in the Indira Gandhi International Sports Stadium.

Prime Minister Shri Narendra Modi Inaugurates and Lays Foundation for Development Projects Worth Rs 13,430 Crore in Kurnool, Andhra Pradesh

• Prime Minister Shri Narendra Modi inaugurated and laid the foundation stone for multiple development projects worth around Rs 13,430 crore in Kurnool, Andhra Pradesh, covering roads, electricity, railways, highways, defence, industry, and energy.
• The Prime Minister paid respects to Lord Narasimha Swamy of Ahobilam, Shri Mahanandishwara Swamy of Mahanandi, Guru Shri Raghavendra Swamy of Mantralayam, Shaivite saints, and Indian freedom fighters, highlighting the cultural and historical significance of the region.

Key Highlights

• Transmission System Strengthening at Kurnool-III Pooling Station launched at an investment of over Rs 2,880 crore, including a 765 KV double-circuit transmission line, enhancing energy capacity by 6,000 MVA and supporting renewable energy transmission.
• Orvakal Industrial Area in Kurnool and Kopparthy Industrial Area in Kadapa launched with total investment of Rs 4,920 crore, expected to attract Rs 21,000 crore in investments and generate around 1 lakh jobs, strengthening Rayalaseema’s industrial development.
• Road Infrastructure Projects include a six-lane Greenfield Highway from Sabbavaram to Sheelanagar (Rs 960 crore) and six additional projects worth around Rs 1,140 crore, improving connectivity, safety, and trade facilitation.
• Railway Projects worth over Rs 1,200 crore include the Kottavalasa-Vizianagaram Fourth Railway Line, Rail Flyover at Pendurti–Simhachalam North, doubling of Kottavalasa-Boddavara and Shimiliguda-Gorapur sections, reducing congestion and boosting passenger and freight movement.
• Energy Sector Initiatives:
  • Srikakulam–Angul Natural Gas Pipeline (Rs 1,730 crore) spanning 124 km in Andhra Pradesh and 298 km in Odisha.
  • Indian Oil LPG Bottling Plant at Chittoor (Rs 200 crore) with daily capacity for 20,000 cylinders, serving over 7.2 lakh customers across Andhra Pradesh, Tamil Nadu, and Karnataka.
• Defence Manufacturing: Advanced Night Vision Products Factory at Nimmaluru, Krishna district (Rs 360 crore) by Bharat Electronics Limited, producing advanced electro-optical systems to strengthen self-reliance in defence production.
• Strategic Projects for Technology & Industry:
  • Google’s Artificial Intelligence Hub to be established in Andhra Pradesh with AI infrastructure, data centers, and fiber-optic networks.
  • International Subsea Gateway at Visakhapatnam for global connectivity.
  • Drone Hub development in Kurnool to foster futuristic technologies and employment.
• Citizen-Centric Initiatives: Tax reforms including income up to Rs 12 lakh fully tax-free, affordable medicines, low-cost healthcare, Ayushman cards for senior citizens, and GST Savings Festival under “Super GST – Super Savings”, expected to save over Rs 8,000 crore for citizens.
• Key Dignitaries Present: Governor Shri Syed Abdul Nazeer, Chief Minister Shri N. Chandrababu Naidu, Union Cabinet Ministers Shri Rammohan Naidu Kinjarapu, Dr. Chandra Sekhar Pemmasani, Shri Bhupathi Raju Srinivasa Varma.

About Andhra Pradesh:

• Chief Minister: N. Chandrababu Naidu
• Governor: Syed Abdul Nazeer
• Capital: Amaravati
• National Parks: Sri Venkateswara National Park, Papikonda National Park
• Wildlife Sanctuaries: Coringa Wildlife Sanctuary, Pulicat Lake Bird Sanctuary, Kambalakonda Wildlife Sanctuary, Rollapadu Wildlife Sanctuary, Krishna Wildlife Sanctuary

Assam Launches Chief Minister Flight Programme to Boost Global Career Opportunities for Youth

• The Chief Minister of Assam launched the CM Flight programme to empower youth with skills, exposure, and opportunities for international careers.
• The initiative aims to tackle unemployment, brain drain, and skill mismatch in the state by providing world-class training and placement support.

Key Highlights

• The programme will provide skill and technical training in IT, data science, artificial intelligence, foreign languages, and sector-specific specializations.
• Selected youth may receive international exposure and internships to understand global workplace norms.
• The government will facilitate placement and job opportunities, acting as a bridge between trained youth and global employers.
• Mentorship and networking by industry experts and global professionals will support career growth.
• Eligibility will be based on merit, aptitude, and interest, with priority given to underprivileged students.
• The programme is expected to reduce brain drain, enhance Assam’s skill ecosystem, raise the state’s profile as a hub for globally ready professionals, and promote inclusive growth by offering opportunities to marginalized youth.

About Assam:

• Chief Minister: Himanta Biswa Sarma
• Capital: Dispur
• Governor: Lakshman Prasad Acharya
• National Parks: Kaziranga National Park, Manas National Park, Dibru-Saikhowa National Park
• Wildlife Sanctuaries: Pobitora Wildlife Sanctuary, Orang National Park, Bura-Chapori Wildlife Sanctuary, Nameri Wildlife Sanctuary

India Elected Unopposed to United Nations Human Rights Council for 2026–28

• India has been elected unopposed to the United Nations Human Rights Council (UNHRC) for a three-year term from 2026 to 2028, marking India’s seventh term on the Council.
• The election was held at the United Nations General Assembly, where India’s candidacy received overwhelming support from member nations.
• There were no competing candidates from the Asia-Pacific group, allowing India to be elected unopposed.
• India’s Permanent Representative to the UN, P Harish, thanked member states for their support and emphasized that India remains committed to human rights and fundamental freedoms, aiming to contribute constructively during its upcoming term.
• India’s History with the Council:
  • India was first elected to the Council in 2006, the year of its creation.
  • India has served six previous terms and is recognized for:
    • Advocating inclusive multilateralism
    • Supporting global South–South cooperation
    • Promoting universal access to education, healthcare, and digital resources
    • Opposing the politicization of human rights issues
• India’s re-election is viewed as a continuity of its diplomatic legacy and a reaffirmation of its global standing in matters of human rights and governance.

About the UN Human Rights Council:

• UNHRC is the premier intergovernmental body within the United Nations system responsible for the promotion and protection of human rights worldwide.
• The Council comprises 47 member states, elected by the UN General Assembly.
• Each term lasts three years, and countries cannot serve more than two consecutive terms.
• Established in 2006, replacing the former UN Commission on Human Rights.
• Its functions include reviewing the human rights records of UN member states through the Universal Periodic Review (UPR) process, addressing violations, and making recommendations.

Indian Railways to Introduce Ticket Rescheduling Feature on IRCTC Portal

• Indian Railways will launch a ticket rescheduling feature via the Indian Railway Catering and Tourism Corporation (IRCTC) portal, allowing passengers to change their travel date or train for confirmed tickets without paying cancellation fees.
• Passengers will only pay the fare difference, if applicable, marking a first-of-its-kind flexibility in Indian train travel.
• Current Rules:
  • Cancellation within 24 hours before departure incurs 25% fare deduction
  • Cancellation within 4 hours before departure leads to 50% deduction or no refund
  • No refund if a passenger misses the train due to unavoidable reasons like delayed flights, bad weather, or emergencies
• New Feature Workflow:
  • Log in to the IRCTC website or mobile app
  • Select the confirmed booking
  • Choose a new travel date or train based on availability
  • Pay only the fare difference, eliminating cancellation charges
• Such flexibility is common internationally, e.g., Japan’s Rail Pass and European/UK rail systems offer fare changes or cancellations within set timelines.
• This reform will make train travel more flexible, convenient, and cost-efficient, particularly for frequent and long-distance travellers.

RECENT NEWS

• Beginning October 1, 2025, Indian Railways will implement a major change in its online ticket booking system. The first 15 minutes of general reserved ticket booking on the IRCTC website and mobile app will be exclusively open to Aadhaar-authenticated user IDs.

IndiaAI Launches Face Authentication Challenge to Strengthen Exam Security

• IndiaAI, under the Ministry of Electronics and Information Technology (MeitY), has launched the Face Authentication Challenge, a nationwide competition aimed at developing a secure, AI-powered facial verification system to prevent duplicate or fraudulent applications in public examinations.
• The challenge offers a prize pool of ₹2.5 crore, with applications open until 25th October 2025, promoting innovation at the intersection of artificial intelligence and governance.
• Background: India’s public recruitment and examination systems, including Union Public Service Commission (UPSC), Staff Selection Commission (SSC), and State Boards, face issues like identity fraud, impersonation, and duplicate applications.
• Traditional systems are insufficient to detect anomalies at scale, making AI-driven facial authentication a reliable alternative.
• Challenge Requirements:
  • Development of an end-to-end AI-powered photo verification and de-duplication system
  • Implementation of one-to-many matching techniques across historical applicant records
  • Use of advanced facial recognition algorithms beyond rule-based methods
  • Ensuring each applicant is uniquely identified with no duplications
• Solutions developed are expected to be adaptable for other sectors, including education, welfare distribution, and identity-based services.
• Prize Structure and Support:
  • Up to 10 shortlisted teams will receive ₹5 lakh each for prototype development and testing
  • Up to two top teams may receive a two-year deployment contract and ₹1 crore each for scaling the solution
• This initiative is designed to enhance transparency and fairness in India’s public examination system while supporting the startup ecosystem and AI research community.

CURRENT AFFAIRS: MOUS AND AGREEMENT

India and Australia Strengthen Energy Cooperation through the 5th India-Australia Energy Dialogue

• India and Australia held the 5th India–Australia Energy Dialogue in New Delhi.
• The meeting was co-chaired by Shri Manohar Lal, Minister for Power and Housing & Urban Affairs, India, and Mr. Chris Bowen MP, Minister for Climate Change and Energy, Australia.

Key Highlights

• The Indian delegation included officials from Ministry of Power, Ministry of New and Renewable Energy, Ministry of Petroleum and Natural Gas, Ministry of Mines, and Ministry of Coal. They presented progress and future cooperation plans under their respective Joint Working Groups.
• Discussions focused on:
  • Global transition to net zero emissions
  • Practical cooperation in energy efficiency and enabling technologies
  • Promotion of green hydrogen initiatives
  • Commitment to reliable and trusted energy trade partnerships
  • Diversified, secure, and resilient energy supply chains
• Both Ministers emphasized that the India–Australia partnership is pivotal in promoting secure, robust, and sustainable energy systems in the Indo-Pacific region.

India and MERCOSUR Agree to Deepen Preferential Trade Agreement

• During a meeting in New Delhi, Geraldo Alckmin, Vice President of Brazil and Minister of Development, Industry, Trade and Services, and Piyush Goyal, Minister of Commerce and Industry of India, discussed deepening the existing India–MERCOSUR Preferential Trade Agreement (PTA) to boost trade and investment between the Parties.

Key Highlights

• Both sides recalled the Framework Agreement signed on 17th June 2003, aimed at strengthening bilateral relations and expanding trade in line with WTO rules and disciplines.
• Agreed principles for the expansion of the Preferential Trade Agreement:
  • The expansion should be substantial, enabling a significant share of bilateral trade to benefit from tariff preferences.
  • The agreement will cover both tariff and non-tariff issues related to trade and economic partnership.
  • Active participation of private sector and stakeholders will be promoted to support the negotiation process.
  • A technical dialogue between the Parties will be established, including a meeting of the Joint Administration Committee under Article 23 of the PTA, to define the scope of expansion.
  • Negotiations are aimed to be concluded within one year from the launch of discussions.
• The Brazilian side committed to coordinate with MERCOSUR partners to ensure a substantial, swift, and mutually beneficial deepening of the Agreement.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Tarun Garg Appointed as Hyundai India’s New Managing Director & Chief Executive Officer, Effective January 1, 2026

• Hyundai Motor India Limited (HMIL) has appointed Tarun Garg as its new Managing Director and Chief Executive Officer (MD & CEO), effective January 1, 2026, marking a historic leadership change.
• Tarun Garg becomes the first Indian national to lead Hyundai’s India operations since the company’s entry into India in 1996, reflecting Hyundai’s trust in local leadership and its focus on India as a key growth market.
• Before joining Hyundai in 2019 as Director of Sales, Marketing, and Service, Garg had an extensive career with Maruti Suzuki.
• He was promoted to Chief Operating Officer (COO) in 2023, where he led sales, marketing, and strategic operations, helping Hyundai India achieve record-breaking sales for three consecutive years and complete its largest-ever IPO in 2024.
• The appointment marks a major leadership transition, with outgoing MD & CEO Unsoo Kim set to take up a strategic global role at Hyundai Motor Company (HMC), South Korea, ensuring continuity and smooth transition.

CURRENT AFFAIRS : DEFENCE NEWS

Inaugural India–South Korea Naval Bilateral Exercise Commences

• Indian Naval Ship (INS) Sahyadri made a port call at Busan Naval Harbour, South Korea, on 13th October 2025 to participate in the inaugural Indian Navy–Republic of Korea Navy (IN–RoKN) Bilateral Exercise.
• The Republic of Korea Navy (RoKN) extended a warm welcome, highlighting the growing navy-to-navy cooperation and strengthening strategic partnership between India and South Korea.
• The IN–RoKN Bilateral Exercise is divided into two phases — the Harbour Phase and the Sea Phase — designed to enhance interoperability, mutual understanding, and operational trust between both navies.
• During the Harbour Phase, activities include cross-deck visits, sharing of best practices, professional exchanges, sports fixtures, training sessions, and courtesy calls by the Commanding Officer of INS Sahyadri on senior RoKN officials and local dignitaries.
• The Sea Phase involves joint manoeuvres and operational exercises between INS Sahyadri and ROKS Gyeongnam, aimed at strengthening tactical coordination and operational synergy.
• INS Sahyadri is an indigenously designed and constructed Shivalik-class guided missile stealth frigate, commissioned in 2012, and based at Visakhapatnam under the Eastern Naval Command.
• The ship is a symbol of India’s ‘Aatmanirbhar Bharat’ vision, showcasing the country’s indigenous shipbuilding capability and has participated in several bilateral and multilateral exercises.
• INS Sahyadri is currently on an operational deployment to the South China Sea and Indo-Pacific, underscoring India’s role as a responsible maritime stakeholder and Preferred Security Partner.

Defence Research and Development Organisation’s Indigenous Military Combat Parachute System Successfully Completes 32,000-Feet Combat Freefall Test

• The Defence Research and Development Organisation’s (DRDO) indigenously developed Military Combat Parachute System (MCPS) successfully completed a combat freefall jump from 32,000 feet, conducted by Indian Air Force test jumpers.
• With this achievement, MCPS becomes the only operational parachute system in the Indian Armed Forces capable of deployment above 25,000 feet.
• The system was developed by DRDO’s Aerial Delivery Research and Development Establishment (ADRDE), Agra and Defence Bioengineering and Electromedical Laboratory (DEBEL), Bengaluru.
• MCPS features enhanced tactical capabilities such as lower descent rate and precise steering control for improved safety and performance.
• It is compatible with Navigation with Indian Constellation (NaVIC), ensuring independence from foreign GPS systems and protection against external interference.
• The successful demonstration paves the way for complete indigenous induction, reducing dependence on imports and enabling faster maintenance and operational turnaround.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

India, Saudi Arabia Deepen Collaboration in Chemicals and Petrochemicals Sector

• A bilateral meeting was held between the Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers (India), and the Ministry of Industry and Minerals (Saudi Arabia).
• The Indian delegation was led by Nivedita Shukla Verma, Secretary, Department of Chemicals & Petrochemicals, and the Saudi delegation was led by H.E. Eng. Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.

Key Highlights :

• Saudi Arabia is India’s fourth-largest trade partner, while India is Saudi Arabia’s second-largest trade partner.
• Bilateral trade between the two countries reached USD 41.88 billion in 2024–25, with Chemicals and Petrochemicals contributing about USD 4.5 billion (10%) to total trade.
• The meeting focused on enhancing bilateral cooperation, promoting investments, and exploring new collaborations in the Chemicals and Petrochemicals sector.
• Both sides recognized complementarities in their sectors — Saudi Arabia’s strength in Petrochemicals and India’s strength in Speciality Chemicals.
• It was agreed to harness synergies between the two countries through enhanced cooperation.
• Discussions also included opportunities for collaboration across the Chemicals and Petrochemicals value chain, such as investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) of India and partnerships between major companies from both nations.

AR Rahman Partners With Google Cloud To Launch AI-Powered Virtual Band “Secret Mountain”

• In a groundbreaking collaboration, AR Rahman has partnered with Google Cloud to launch Secret Mountain, an AI-powered immersive entertainment venture featuring digital avatars.

Key Highlights :

• Secret Mountain is a metahuman digital band created by AR Rahman, consisting of six hyper-realistic synthetic avatars representing diverse cultures and musical styles.
• These AI-driven avatars are designed to look, move, and express emotions like real humans, offering a lifelike virtual performance experience.
• Notable characters include Cara (Irish singer-songwriter), Zen Tam (Tamil rapper), and Blessing (African percussionist and vocalist), each supported by real musicians, dancers, and producers to ensure authenticity and cultural diversity.
• Google Cloud provides the AI infrastructure and technologies powering Secret Mountain, enabling avatar embodiment, animation, and real-time interaction.
• Key technologies used include Veo 3 for video generation and real-time avatar movement, Imagen + Gemini Flash 2.5 (Nano Banana) for high-quality visuals, and Gemini 2.5 Pro as the multimodal conversational brain that allows avatars to interact intelligently with fans.
• Google Cloud CEO : Thomas Kurian

Ola Electric Unveils ‘Ola Shakti’ Battery Energy Storage System, Expanding Into Clean Energy Sector

• Ola Electric has launched a new Battery Energy Storage System (BESS) called Ola Shakti, marking its expansion beyond electric vehicles into the clean energy ecosystem.
• The initiative aims to serve both residential and grid-scale energy needs, aligning with India’s focus on energy self-reliance and sustainability.
• Ola Shakti is a modular and scalable energy storage system designed for homes, commercial buildings, and grid-level applications.
• This marks a strategic diversification for Ola Electric into energy infrastructure, leveraging its lithium-ion cell manufacturing technology.
• The system is based on the Bharat 4680 lithium-ion cell, Ola’s proprietary battery platform, manufactured at the Ola Gigafactory in India.
• Ola Electric has also developed rare-earth-free ferrite motors, showing its commitment to indigenous innovation and sustainable technology.
• With Ola Shakti, the company is entering the energy storage sector, crucial for balancing renewable energy and ensuring power reliability.
• The company targets an annual storage capacity of 5 GWh in the coming years, aiming to become a leading player in India’s BESS market.
• Ola Shakti can be used in residential setups for backup power, industrial facilities for load management, and grid-scale renewable integration.
• Its modular and flexible design allows deployment in urban and rural electrification projects, enhancing India’s renewable energy infrastructure.

Adani Group Building Ropeway to Simplify and Speed Up Kedarnath Dham Pilgrimage

• Adani Group is constructing a ropeway to facilitate devotees visiting Kedarnath Dham, ensuring easier and safer access to darshan.
• The ropeway connects Sonprayag with Kedarnath, spanning 9 km and built with an investment of ₹4,081 crore.
• Once operational, it will reduce travel time from a 9-hour trek to just 36 minutes, greatly easing the pilgrimage experience.
• Adani Enterprises Ltd (AEL) received the Letter of Award (LoA) from National Highways Logistics Management Ltd (NHLML) in September 2025 for executing the project.
• This is AEL’s first ropeway project, to be completed in six years and operated for 29 years under the Public-Private Partnership (PPP)
• The ropeway, built under the National Ropeways Development Programme – Parvatmala Pariyojana, will carry 1,800 passengers per hour per direction.
• The project will boost tourism, create employment opportunities, and improve regional connectivity in Uttarakhand.

Muse Wearables Launches ‘Ring One’ Smart Ring Combining Health Tracking and Contactless Payments

• Muse Wearables, an IIT-Madras-incubated startup, has launched Ring One, a smart ring that combines health tracking with contactless payments, marking a major innovation in wearable technology.
• Ring One enables secure payments using advanced tokenisation technology, allowing users to tap the ring on NFC terminals without needing a phone, card, or wallet.
• Users can link their RuPay debit or credit cards via the Muse Apps, after which a unique token is generated and stored securely in a Secure Element (SE) chip inside the ring.
• Payments are processed by the SE chip, which authenticates transactions without exposing the actual card number, ensuring bank-grade and passport-grade security.
• The payment feature works only when the ring is worn, and it automatically deactivates if removed, providing enhanced protection.
• If the ring is lost or stolen, the token remains inactive unless re-authenticated by the user, ensuring data safety.
• Apart from payments, Ring One tracks health metrics, offering multifunctional capabilities for fitness and wellness monitoring.
• The device is available in over 40 countries and supports cards from nearly 600 banks, highlighting its global reach and compatibility.
• The system is powered by India’s first Secure Element Tokenization Platform, developed by Muse Wearables to promote a sovereign digital wallet ecosystem.

CURRENT AFFAIRS: SPORTS NEWS

Ahmedabad Recommended to Host 2030 Commonwealth Games

• The Commonwealth Sport Executive Board has recommended Ahmedabad as the proposed host city for the 2030 Commonwealth Games (CWG).
• The final decision will be taken on 26th November 2025 during the Commonwealth Sport General Assembly in Glasgow.

Key Highlights

• India last hosted the CWG in 2010 in New Delhi. Ahmedabad was chosen over Abuja, Nigeria, which had submitted a competitive bid. Nigeria’s proposal is considered impressive, and the Executive Board plans to support Africa’s bid for 2034.
• Hosting CWG 2030 marks India’s second CWG hosting and first outside New Delhi, strengthening its sports diplomacy and Olympic aspirations for 2036.
• The event aligns with Viksit Bharat 2047, leveraging sports for youth empowerment, infrastructure development, and global engagement, and marks the 100-year anniversary of the Commonwealth Games.
• Dr. P T Usha, President of Commonwealth Games Association India, stated that hosting the Centenary Games would showcase India’s world-class sporting capabilities and contribute to Viksit Bharat 2047.
• Dr. Donald Rukare, Interim President of Commonwealth Sport, highlighted that the recommendation reflects a significant milestone for the Movement.
• Abuja’s proposal was “impressive and ambitious.” While not selected for 2030, Nigeria is expected to be supported for 2034, promoting global inclusivity.
• If approved, Ahmedabad will become the second Indian city to host CWG, with preparations expected to bring major infrastructure, economic, and cultural benefits.

Daily CA One- Liner: October 18

• India’s total exports (merchandise + services) for April–September 2025 are estimated at US$ 413.30 billion, showing a 4.45% growth over the same period in 2024.
• Bajaj Finserv Asset Management Company (AMC) has launched a new feature called ‘Pay with Mutual Fund’, allowing investors to make UPI payments using mutual fund units.
• Curie Money has launched its UPI + investment application to all users after receiving NPCI approval, marking a significant step in India’s fintech innovation.
• Indian travellers visiting Japan will soon be able to use the Unified Payments Interface (UPI) for everyday transactions, following an agreement between NPCI International Payments Limited (NIPL) and NTT DATA Japan.
• The Indian currency is called the Indian Rupee (INR), and 1 Rupee = 100 Paise.
• The 16th Annual Meeting of the World Health Organization–International Regulatory Cooperation for Herbal Medicines (WHO–IRCH) was held in Jakarta, Indonesia, from 14th to 16th October 2025.
• The United States announced a $20 billion financial aid package to help Argentina tackle its worsening currency and economic crisis.
• Hyundai Motor India Limited (HMIL) has appointed Tarun Garg as its new Managing Director and Chief Executive Officer (MD & CEO), effective January 1, 2026, marking a historic leadership change.
• Indian Naval Ship (INS) Sahyadri made a port call at Busan Naval Harbour, South Korea, on 13th October 2025 to participate in the inaugural Indian Navy–Republic of Korea Navy (IN–RoKN) Bilateral Exercise.
• The Defence Research and Development Organisation’s (DRDO) indigenously developed Military Combat Parachute System (MCPS) successfully completed a combat freefall jump from 32,000 feet, conducted by Indian Air Force test jumpers.
• A bilateral meeting was held between the Department of Chemicals & Petrochemicals, Ministry of Chemicals and Fertilizers (India), and the Ministry of Industry and Minerals (Saudi Arabia).
• In a groundbreaking collaboration, AR Rahman has partnered with Google Cloud to launch Secret Mountain, an AI-powered immersive entertainment venture featuring digital avatars.
• Ola Electric has launched a new Battery Energy Storage System (BESS) called Ola Shakti, marking its expansion beyond electric vehicles into the clean energy ecosystem.
• Adani Group is constructing a ropeway to facilitate devotees visiting Kedarnath Dham, ensuring easier and safer access to darshan.
• Muse Wearables, an IIT-Madras-incubated startup, has launched Ring One, a smart ring that combines health tracking with contactless payments, marking a major innovation in wearable technology.

• Union Minister for Environment, Forest and Climate Change, Shri Bhupender Yadav, delivered India’s statement at the G20 Environment Ministers’ Meeting in Cape Town, South Africa
• The Government of Uttarakhand, in collaboration with the India AI Mission, Ministry of Electronics and Information Technology (MeitY), is organising the Uttarakhand AI Impact Summit 2025 at Hotel Ramada, Dehradun
• Prime Minister Shri Narendra Modi inaugurated and laid the foundation stone for multiple development projects worth around Rs 13,430 crore in Kurnool, Andhra Pradesh, covering roads, electricity, railways, highways, defence, industry, and energy
• The Chief Minister of Assam launched the CM Flight programme to empower youth with skills, exposure, and opportunities for international careers.
• India has been elected unopposed to the United Nations Human Rights Council (UNHRC) for a three-year term from 2026 to 2028, marking India’s seventh term on the Council
• Indian Railways will launch a ticket rescheduling feature via the Indian Railway Catering and Tourism Corporation (IRCTC) portal, allowing passengers to change their travel date or train for confirmed tickets without paying cancellation fees
• IndiaAI, under the Ministry of Electronics and Information Technology (MeitY), has launched the Face Authentication Challenge, a nationwide competition aimed at developing a secure, AI-powered facial verification system to prevent duplicate or fraudulent applications in public examinations

• India and Australia held the 5th India–Australia Energy Dialogue in New Delhi.

• During a meeting in New Delhi, Geraldo Alckmin, Vice President of Brazil and Minister of Development, Industry, Trade and Services, and Piyush Goyal, Minister of Commerce and Industry of India, discussed deepening the existing India–MERCOSUR Preferential Trade Agreement (PTA) to boost trade and investment between the Parties
• The Commonwealth Sport Executive Board has recommended Ahmedabad as the proposed host city for the 2030 Commonwealth Games

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