Daily Current Affairs 23rd Aug 2025 | Latest News | Download PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

Advisory Board for Banking & Financial Frauds re-formed with a two-year mandate

• The Advisory Board for Banking and Financial Frauds (ABBFF) has been reconstituted for a term of two years, effective from August 21, 2025.
• The board will be chaired by former Central Vigilance Commissioner (CVC), Suresh N. Patel.
• Its mandate is to examine the role of officials and whole-time directors of public sector banks, insurance companies, and financial institutions in fraud cases involving ₹3 crore and above.
• The board’s members include Ravikant, Rajni Kant Mishra, Alok Kumar Choudhary, and Sarada Kumar Hota.
• The Central Vigilance Commission (CVC) or the Central Bureau of Investigation (CBI) can also refer cases to the board for its advice.
• The chairman and members are eligible for re-appointment, but their total tenure cannot exceed 4 years or 70 years of age.
• The ABBFF is required to provide quarterly reports on its activities to the CVC and the Reserve Bank of India (RBI).

Reserve Bank of India proposes widening capital charge framework for Counterparty Credit Risk

• The Reserve Bank of India (RBI) has proposed to expand the scope of capital charge for Counterparty Credit Risk (CCR).
• Counterparty credit risk (CCR) is the risk that the counterparty to a transaction could default before the final settlement of the transaction’s cash flows.

Key Highlights :

• This will now include derivatives in equity, precious metals (excluding gold), and other commodities, in addition to existing categories.
• The directive, issued under Section 35A of the Banking Regulation Act, 1949, is titled the Reserve Bank of India (Counterparty Credit Risk: Add-on factors for computation of Potential Future Exposure) (Amendment) Directions, 2025.
• This section grants the RBI the power to issue binding directions to banks in the public interest.
• The RBI has revised the add-on factors for calculating Potential Future Exposure (PFE) under the Current Exposure Method (CEM).
• This revision brings them in line with the guidelines set by the Basel Committee on Banking Supervision (BCBS).
• Banks acting as clearing members of SEBI-recognised stock exchanges for equity and commodity derivatives must compute and maintain this capital charge for CCR.
• The new Credit Conversion Factors (CCFs) for market-related off-balance sheet items will apply to all Scheduled Commercial Banks, with the exception of Payments Banks and Regional Rural Banks (RRBs).
• The proposed add-on factors are tiered by asset class:
  • Interest rates: 0.25% to 1.5%
  • Exchange rate and gold: 1% to 7.5%
  • Equities: 6% to 10%
  • Precious metals (excluding gold): 7% to 8%
  • Commodities: 10% to 15%

Banks disbursed more than ₹62,000 crore through the Stand-Up India Scheme since 2016

• The Stand-Up India Scheme was launched on April 5, 2016, to promote entrepreneurship among women, Scheduled Castes (SC), and Scheduled Tribes (ST).
• As of now, banks have sanctioned ₹62,791 crore to 2,75,291 loan accounts under the scheme.
• The scheme provides loans between ₹10 lakh and ₹1 crore from Scheduled Commercial Banks (SCBs).
• A key mandate of the program is that each bank branch must lend to at least one SC/ST borrower and one woman borrower.
• The loans are specifically for greenfield enterprises, which are the first-time ventures of the beneficiaries, in sectors including manufacturing, services, trading, and allied agriculture activities.
• The interest rate is capped at the lowest applicable rate of the bank for that category, which should not exceed Base Rate/MCLR + 3% + tenor premium.
• The repayment period is up to 7 years, with a maximum moratorium period of 18 months.

Reserve Bank of India permits Federal Bank to collect Maharashtra government payments via Government Receipt Accounting System portal for hassle-free tax and fee transactions

• The Reserve Bank of India (RBI) has authorized the Federal Bank to collect government receipts for the state of Maharashtra.
• This will be done through the Government Receipt Accounting System (GRAS)
• The GRAS portal, implemented by the state’s finance department in 2010, functions as a virtual treasury for the electronic payment of taxes and non-tax revenues.
• With this authorization, Federal Bank joins a group of banks that facilitate digital and over-the-counter payments for citizens, businesses, and institutions in Maharashtra.

About Federal Bank :

• Headquarters : Aluva, Kerala.
• MD & CEO : V.S. Manian.

India’s textile and apparel exports rise 5.37% year-on-year to $3.1 billion in July 2025

• India’s textile and apparel sector demonstrated resilience, with exports in July 2025 reaching $3.10 billion.
• This represents a 5.37% year-on-year growth compared to $2.94 billion in July 2024.
• For the period from April to July 2025, cumulative textile exports were $12.18 billion, showing a 3.87% growth over the same period in the previous year.
• The growth was driven by sustained demand in key commodity groups, including ready-made garments, jute, carpets, and handicrafts, which collectively accounted for the majority of the total shipment value.

Key Highlights :

• Government InitiativesThe government’s focus on modernization and innovation is supported by several key schemes:
• RoSCTL (Rebate of State and Central Taxes and Levies) and RoDTEP (Remission of Duties and Taxes on Exported Products): These schemes aim to make exports more competitive by reimbursing domestic taxes and duties not covered by other incentives.
• PLI (Production Linked Incentive) for Textiles: Aims to boost the manufacturing of high-value items, such as MMF apparel and technical textiles.
• PM MITRA Parks: A plan to establish Mega Integrated Textile Region and Apparel parks with world-class infrastructure to attract large investments.
• National Technical Textiles Mission and National Handloom & Handicraft Development Programme: These focus on promoting advanced textile technologies and supporting traditional crafts.
• SAMARTH: A skill development scheme that provides training and equips workers with the necessary skills for the sector.

NCAER survey shows sharp rise in India’s Business Confidence Index in Q1 2025-26

• Based on the Business Expectations Survey from the National Council of Applied Economic Research (NCAER), India’s Business Confidence Index (BCI) saw a sharp increase in the April-June quarter (Q1) of 2025-26.

Key Findings from the Survey

• BCI Growth: The BCI rose to 149.4 in Q1 2025-26, up from 139.3 in the previous quarter.
• Positive Outlook: More than 60% of respondents expressed a positive outlook across all four components of the BCI, with each component showing an improvement from the prior quarter.
• Key Components of BCI: The index is based on business expectations for:
  1. Overall economic conditions over the next six months.
  2. The financial position of firms in the next six months.
  3. The present investment climate.
  4. Whether present capacity utilization is at or above optimal levels.
• Future Expectations: The majority of businesses surveyed were optimistic about future growth.
• Specifically, 78.7% expected an increase in production and 79.1% anticipated a rise in domestic sales over the next six months.
• Survey Details: The quarterly survey was conducted in June and included a sample of 479 companies across six cities.

About NCAER

• NCAER is an independent, non-profit economic policy research institute.
• It was established in 1956, making it India’s first independent economic policy research institute.
• Its headquarters are located in New Delhi, India.

Life Insurance Corporation of India rolls out nationwide drive to reinstate lapsed insurance policies

• Life Insurance Corporation of India (LIC) has launched a nationwide campaign to help policyholders revive their lapsed individual insurance policies.
• The campaign is in effect from August 18 to October 17, 2025.
• It offers a special concession on late fees of up to 30%, with a maximum limit of ₹5,000, for non-linked insurance plans.
• The campaign is for policies that have lapsed due to non-payment of premiums but are still within the revival period of five years from the date of the first unpaid premium.
• The initiative aims to assist policyholders who were unable to pay their premiums on time due to challenging circumstances and to encourage them to restore their insurance coverage.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

India Emerges as World’s Third-Largest Solar Power Producer

• According to the International Renewable Energy Agency (IRENA), India generated 1,08,494 GWh of solar energy in 2025, surpassing Japan’s 96,459 GWh.
• As of July 2025, India’s installed solar capacity stood at 119.02 GW consisting of 90.99 GW from ground-mounted projects, 19.88 GW from rooftop systems, 3.06 GW from hybrid plants, and 5.09 GW from off-grid setups.

Key Highlights

• India’s total renewable energy capacity reached 227 GW, marking a 4,000% increase in solar power in the last 10 years.
• India’s solar potential is estimated at 748 GW, with Rajasthan, Jammu & Kashmir, Maharashtra, Madhya Pradesh, and Andhra Pradesh as major hubs.
• Palli village in Jammu & Kashmir became India’s first carbon-neutral panchayat.
• The government launched the Pradhan Mantri Surya Ghar Muft Bijlee Yojana with an outlay of Rs 75,021 crore, targeting 1 crore households with up to 300 free solar-powered units per month. Subsidy support includes Rs 30,000 for 1 kW systems and Rs 78,000 for 3 kW and above.
• The Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) scheme helps farmers replace diesel pumps with solar, providing a subsidy of 30–50%, and supports farmer-owned solar plants up to 2 MW.
• Under the Solar Parks and Ultra Mega Solar Power Projects Scheme, 53 parks (39,323 MW) have been sanctioned in 13 states, of which 26 parks with 13,896 MW capacity are operational.
• The Pradhan Mantri Janjati Adivasi Nyaya Maha Abhiyan (PM JANMAN) with an outlay of Rs 515 crore aims to electrify 1 lakh tribal households through solar power.
• India’s solar module production capacity increased from 38 GW in March 2024 to 74 GW in March 2025, while photovoltaic (PV) cell capacity rose from 9 GW to 25 GW in the same period.
• India commissioned its first 2 GW ingot-wafer facility, boosting domestic solar manufacturing.
• Since 2014, PV cell capacity has expanded 21-fold and module capacity 34-fold.
• The government mandated the use of Indian-made panels in major schemes and imposed Basic Customs Duty (BCD) on imports since 2022.
• At COP26 (Conference of Parties 26), India pledged to achieve 500 GW of non-fossil fuel capacity by 2030.
• India’s solar growth contributes to emission reduction, rural livelihood improvement, energy independence, and clean energy leadership.

RECENT NEWS

• A Japanese Coast Guard ship named JCGS Itsukushima arrived at Chennai Port on July 7, 2025, for a six-day visit. This visit is part of Japan’s Global Ocean Voyage Training.

Indian Railways Installs India’s First Removable Solar Panel System Between Railway Tracks in Varanasi

• Indian Railways (IR) is moving towards its net-zero emission goal by rapidly adopting solar energy as part of its sustainable transport strategy.

Key Highlights

• Varanasi, Uttar Pradesh has become the first city in India to have portable solar panels installed between railway tracks.
• Banaras Locomotive Works (BLW), Varanasi has commissioned India’s first 70-metre removable solar panel system (28 panels, 15 KWp capacity).
• The pilot project was rolled out in Workshop Line Number 19 of BLW using an indigenously designed installation procedure that allows solar panels to be laid between rails without disrupting train traffic.
• These solar panels are durable, efficient, and removable, making them suitable for maintenance and seasonal adaptation.

RECENT NEWS

• In a landmark achievement, the Indian Railways has successfully conducted the trial run of Asia’s longest freight train, named ‘Rudrastra’. Spanning an incredible 4.5 kilometres in length, the mammoth goods train is set to transform freight transport in India by improving efficiency, reducing turnaround time, and saving resources.

Fiji Prime Minister Sitiveni Rabuka to Visit India from August 24–26, 2025

• Fiji Prime Minister Sitiveni Ligamamada Rabuka will undertake an official visit to India from August 24 to 26, 2025, as announced by the Ministry of External Affairs (MEA).
• On August 25, 2025, Prime Minister Sitiveni Rabuka will hold formal discussions with Prime Minister Narendra Modi in New Delhi.

Key Highlights

• The meeting is expected to strengthen collaboration in the fields of health and human resource development, climate change and ocean governance, defence and security cooperation, and digital infrastructure and capacity building.
• Prime Minister Narendra Modi will also host a lunch in honour of Prime Minister Sitiveni Rabuka, underlining the importance of the partnership.
• During his visit, Prime Minister Sitiveni Rabuka will also call on the President of India Droupadi Murmu, reflecting the symbolic and strategic significance of the India–Fiji relationship.
• As part of his programme, Prime Minister Sitiveni Rabuka will deliver a lecture titled “Ocean of Peace” at the Indian Council of World Affairs (ICWA), New Delhi.
• The lecture will cover Fiji’s role in regional stability in the Indo-Pacific region, maritime security and peaceful ocean governance, and the cultural and historical people-to-people ties between India and Pacific Island nations.

About Fiji

• Capital: Suva
• Currency: Fijian Dollar
• Prime minister: Sitiveni Rabuka

India Extends Fortified Rice Scheme Till 2028 To Combat Anaemia And Malnutrition

• The Union Cabinet approved the extension of the Fortified Rice Scheme till December 2028 with an outlay of ₹17,082 crore.
• The scheme aims to fight anaemia and malnutrition by enhancing the nutritional profile of food distributed under major government programmes.

Key Highlights

• Fortified rice is enriched with Iron, Folic Acid, and Vitamin B12, covering schemes such as the Targeted Public Distribution System (TPDS), Pradhan Mantri Poshan Shakti Nirman (PM POSHAN or Mid-Day Meal Scheme), Integrated Child Development Services (ICDS), Wheat-Based Nutrition Programme (WBNP), and Scheme for Adolescent Girls (SAG).
• The initiative started with Anemia Mukt Bharat (2018), followed by a pilot project in 2019 and a nationwide rollout in 2022, ensuring that by March 2024, all custom-milled rice under food safety net schemes was fortified.
• Pradhan Mantri Poshan Shakti Nirman (PM POSHAN) uses fortified rice in school meals, along with Double Fortified Salt (DFS – Iron + Iodine) and Fortified Edible Oil (Vitamins A & D). The Government of India bears the full cost of fortification.
• The National Dairy Development Board (NDDB)’s Gift Milk Programme has distributed 7.10 lakh litres of fortified milk, benefiting 41,700 children in 257 schools across 11 states, amounting to 35.4 lakh child milk days.
• Fortification in the Wheat-Based Nutrition Programme (WBNP) and Scheme for Adolescent Girls (SAG) since 2021–22 has improved nutrition for women and adolescent girls, targeting micronutrient deficiencies affecting immunity, fatigue, and development.
• The Ministry of Food Processing Industries (MoFPI) supports the ecosystem for fortified foods through schemes like Pradhan Mantri Kisan SAMPADA Yojana (PMKSY), Production Linked Incentive Scheme for Food Processing Industry (PLISFPI), and Pradhan Mantri Formalisation of Micro Food Processing Enterprises (PMFME), focusing on infrastructure, supply chain efficiency, and sustainable production.

Ministry of Tourism Launches 40 Projects under SASCI Scheme

• The Ministry of Tourism launched projects under the Special Assistance to States for Capital Investment SASCI Scheme.
• A central outlay of ₹3,295.76 crore has been approved for 40 tourism projects.

Key Highlights

• The scheme aims to promote lesser-known iconic tourist destinations with focus on sustainability and responsible tourism.
• Funding Pattern – 100% funding by the Central Government for approved projects, while State Governments will manage operation and maintenance.
• Project Selection is done through a challenge-based method ensuring transparency, competitiveness, and high-impact projects.
• Evaluation Parameters include connectivity, accessibility, tourism ecosystem, environmental impact, utilities, amenities, tourist footfall, job creation, and potential for private investment.
• Approved Projects Categories cover heritage and cultural restoration, eco-tourism parks, pilgrimage infrastructure, adventure tourism, modern visitor amenities, parking and signage systems.
• Impact – The scheme will generate employment, support artisans and service providers, ensure community participation, and attract private sector investment.

CURRENT AFFAIRS: MOUS AND AGREEMENT

Memorandum of Understanding Signed Between Haryana and Rajasthan for Yamuna Water Pipeline Project

• Haryana and Rajasthan signed a Memorandum of Understanding (MoU) to develop the Yamuna Water Pipeline Project aimed at addressing water scarcity in arid districts of Rajasthan.
• Both states will jointly prepare a Detailed Project Report (DPR), and a Task Force will be set up for planning and implementation. Rajasthan has already appointed a consultant for the DPR.

Key Highlights

• Under Phase-1, the project will transfer 577 Million Cubic Meters (MCM) of Yamuna River water annually from Hathnikund Barrage (Haryana) to Rajasthan districts including Churu, Sikar, and Jhunjhunu during the monsoon months (July–October).
• The water will be supplied through an underground pipeline network, reducing evaporation and seepage losses common in open canals.
• Water transfer to Rajasthan will occur only after Haryana’s requirements are met, including the Western Yamuna Canal capacity of 24,000 cusecs and the Delhi share drawn at Hathnikund.
• The project will help mitigate drought conditions, groundwater depletion, and drinking water scarcity in Rajasthan’s semi-arid and arid regions.
• It also sets a model for inter-state water cooperation, balancing regional water rights and ensuring sustainable water use.

About Rajasthan:

• Capital: Jaipur
• Governor: Haribhau Bagade
• Chief Minister: Bajan Lal Sharma
• National Parks: Ranthambhore National Park, Sariska Tiger Reserve, Keoladeo National Park (Bharatpur Bird Sanctuary), Desert National Park
• Wildlife Sanctuaries: Kumbhalgarh Wildlife Sanctuary, Darrah Wildlife Sanctuary, Ranthambore Wildlife Sanctuary, Bassi Wildlife Sanctuary

About Haryana:

• Chief Minister: Nayab Singh Saini
• Governor: Ashim Kumar Ghosh
• Capital: Chandigarh
• National Parks: Sultanpur National Park, Kalesar National Park
• Wildlife Sanctuaries: Bhindawas Wildlife Sanctuary, Kalesar Wildlife Sanctuary, Nahar Wildlife Sanctuary

India and Eurasian Economic Union Sign Terms of Reference for Free Trade Agreement

• India and the Eurasian Economic Union (EAEU) signed the Terms of Reference (ToR) in Moscow to begin negotiations for a Free Trade Agreement (FTA).
• The ToR was signed by Ajay Bhadoo, Additional Secretary, Department of Commerce, Government of India, and Mikhail Cherekaev, Deputy Director, Trade Policy Department, Eurasian Economic Commission.

Key Highlights

• The FTA aims to boost exports, provide market access for Micro, Small and Medium Enterprises (MSMEs), diversify trade into non-traditional sectors, and encourage investments in infrastructure, energy, pharmaceuticals, and manufacturing.
• It will create a stable institutional framework for long-term trade cooperation between India and the five-member bloc – Armenia, Belarus, Kazakhstan, Kyrgyz Republic, and Russia.
• India-EAEU bilateral trade stood at USD 69 billion in 2024, registering 7% growth over 2023. The FTA is expected to further increase trade in pharmaceuticals, information technology (IT) services, agriculture, textiles, and machinery.
• The EAEU provides access to a market of over 180 million people, rich energy resources, and connectivity through the International North-South Transport Corridor (INSTC).
• This move strengthens India’s economic engagement and geopolitical presence in the Eurasian region.

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Competition Commission of India approves Dalmia Bharat’s acquisition of 100% stake in Jaiprakash Associates

• The Competition Commission of India (CCI), which is the country’s primary antitrust regulator, has given its approval for Dalmia Bharat’s proposal to acquire a 100% stake in Jaiprakash Associates (JAL).
• The acquisition is being conducted as part of the Corporate Insolvency Resolution Process (CIRP) for JAL under the Insolvency and Bankruptcy Code (IBC), 2016.
• This approval allows Dalmia Bharat, through its wholly-owned subsidiary Dalmia Cement Bharat, to proceed with its expansion plans.
• The acquisition is significant for Dalmia Bharat, as it is the country’s fourth-largest cement producer.
• Jaiprakash Associates (JAL) is a diversified company with business interests in real estate, cement, hospitality, and engineering, procurement, and construction (EPC), and it is currently undergoing a CIRP.

About CCI :

• The Competition Commission of India (CCI) is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act of 2002.
• Founded: October 14, 2003
• Headquarters: New Delhi, India
• Chairperson: Ravneet Kaur

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Indian Space Research Organisation to launch multiple new remote sensing satellites by 2027-28 to boost data coverage across India, including Ladakh

• The Indian Space Research Organisation (ISRO) is planning to launch several new remote sensing satellites by 2027-28 to enhance data collection over India, including the Union Territory of Ladakh.
• These upcoming satellites include Resourcesat-3 & 3A, Resourcesat-3S & 3SA, HRSAT, G20 Satellite, and TRISHNA Satellite.

Key Highlights :

Existing Satellite Coverage and Initiatives

• Ladakh is already covered by data from several existing Indian remote sensing satellites, such as Cartosat-2 series, Cartosat-3, Resourcesat-2 & 2A, RISAT-1A, INSAT-3DR & 3DS, Oceansat-3, SARAL, and NISAR.
• For communication, 12 operational Indian satellites cover Ladakh, providing capacity to service providers to enhance telecommunication and broadband connectivity.

Strategic and Disaster Management Projects

• Under the NETRA (Network for Space Object Tracking and Analysis) project, ISRO is establishing an optical telescope at Hanle, Ladakh. The primary purpose of this telescope is to track objects in Geostationary Earth Orbit (GEO), which is crucial for space situational awareness.
• The Disaster Management Support Programme (DMSP) provides satellite-based inputs for effective disaster management in the region, which is prone to natural hazards.

About ISRO:

• Established: 15 August 1969
• Headquarters: Bangalore, Karnataka
• Chairman: V. Narayanan

CURRENT AFFAIRS: SPORTS NEWS

India Shines at World Under-20 Wrestling Championships 2025

• At the World Under-20 Wrestling Championships 2025 held in Samokov, Bulgaria, Sumit Malik won the silver medal in the 57 Kilogram freestyle category, losing 5-8 to European Under-20 bronze medallist Magomed Ozdamirov in the final.

Key Highlights

• In women’s wrestling, Tapasya (57 Kilogram) reached the final after defeating Dolzhon Tsyngueva (pinned), Romaissa El Kharroubi of France (pinned), and registering a 4-3 victory over Sowaka Uchida of Japan, ensuring another medal for India.
• Srishti (68 Kilogram) also advanced to the final with dominating wins against Eduarda Batista of Brazil (10-0), Dominika Pochowska of Poland (by fall), Masa Perovic of Serbia (10-0), and Laura Koehler of Germany (7-3), thereby securing one more medal for India.

Ahmedabad to Host Major International Sports Events in 2025

• Ahmedabad will host three major international sports events in 2025, strengthening its role as a global sports hub.
• Commonwealth Weightlifting Championship: Scheduled from 24–30 August 2025 at Naranpura Sports Complex, Ahmedabad, with participation from over 350 athletes from 29 countries.

Key Highlights

• Asian Aquatics Championship: To be held in September–October 2025, featuring swimming, diving, water polo, and synchronized swimming with athletes from China, Japan, Korea, and other Asian nations.
• Asian Football Confederation (AFC) Under-17 Asian Cup 2026 Qualifiers: Scheduled from 22–30 November 2025 at The Arena by TransStadia, Ahmedabad. Group D teams include India, Iran, Chinese Taipei, and Lebanon. India is among the seven countries chosen to host the qualifiers.
• Gujarat is also set to host future events: Asian Weightlifting Championship (2026), Archery Asia Para Cup (2026), World Police and Fire Games (2029 in Ahmedabad, Gandhinagar, and Ekta Nagar), and the Commonwealth Games 2030 in Ahmedabad.
• Gujarat’s growth in sports is backed by state-of-the-art infrastructure such as Naranpura Sports Complex and TransStadia Arena, along with the Sports Policy 2022–2027.
• The state is investing in high-performance centers, athlete development, and sports tourism, aiming to establish itself as a leading international sports destination.

CURRENT AFFAIRS: IMPORTANT DAYS

International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief – 22 August

• The International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief is observed every year on 22 August.
• It was proclaimed by the United Nations General Assembly (UNGA) in 2019 through Resolution A/RES/73/296.

Key Highlights

• The day serves as a global reminder to protect religious freedom, promote tolerance, and condemn violence carried out in the name of religion or belief.
• The observance takes place immediately after the International Day of Remembrance and Tribute to the Victims of Terrorism (21 August), highlighting the global fight against intolerance and extremism.
• The resolution recognizes the increasing attacks on individuals and communities based on religion or belief.
• It condemns terrorism and violent extremism in all forms, clarifying that such acts cannot be associated with any religion, civilization, nationality, or ethnic group.
• The United Nations emphasized that states bear the primary responsibility to protect human rights, particularly the right to freedom of religion or belief, including for minorities.

International Day For The Remembrance Of Slave Trade And Abolition 2025 – August 23

• International Day for the Remembrance of Slave Trade and Abolition is celebrated on 23 August every year.
• This day is designated by UNESCO to memorialize the transatlantic slave trade. UNESCO member states organize every year to celebrate the International Day for Remembrance of the Slave Trade and Abolition, inviting participation from young people, educators, artists, etc.

History

• International Day for the Remembrance of Slave Trade and Abolition 2025 involved trading ships from Europe, sailing from Europe with manufactured goods to the West coast of Africa, where the goods would be exchanged for people captured by African traders.
• The transatlantic trading patterns were established in the mid-17th century. The transatlantic slave trade benefited the colonial powers of Western Europe primarily.
• More than 4,80,000 people were enslaved in the British Colonies by the 1790s. Enslaved people were forced to toil on plantations in the Caribbean and the Americas.
• International Day for the Remembrance of Slave Trade and Abolition is observed to commemorate the uprising on August 23, 1791, in Santo Domingo, Haiti, which played a crucial role in the abolition of the transatlantic slave trade.

Daily CA One- Liner: August 23

• According to the International Renewable Energy Agency (IRENA), India generated 1,08,494 GWh of solar energy in 2025, surpassing Japan’s 96,459 GWh
• Indian Railways (IR) is moving towards its net-zero emission goal by rapidly adopting solar energy as part of its sustainable transport strategy
• Fiji Prime Minister Sitiveni Ligamamada Rabuka will undertake an official visit to India from August 24 to 26, 2025, as announced by the Ministry of External Affairs (MEA).
• The Union Cabinet approved the extension of the Fortified Rice Scheme till December 2028 with an outlay of ₹17,082 crore
• The Ministry of Tourism launched projects under the Special Assistance to States for Capital Investment SASCI Scheme.
• Haryana and Rajasthan signed a Memorandum of Understanding (MoU) to develop the Yamuna Water Pipeline Project aimed at addressing water scarcity in arid districts of Rajasthan
• India and the Eurasian Economic Union (EAEU) signed the Terms of Reference (ToR) in Moscow to begin negotiations for a Free Trade Agreement
• At the World Under-20 Wrestling Championships 2025 held in Samokov, Bulgaria, Sumit Malik won the silver medal in the 57 Kilogram freestyle category, losing 5-8 to European Under-20 bronze medallist Magomed Ozdamirov in the final
• The International Day Commemorating the Victims of Acts of Violence Based on Religion or Belief is observed every year on 22 August
• International Day for the Remembrance of Slave Trade and Abolition is celebrated on 23 August every year.
• The Advisory Board for Banking and Financial Frauds (ABBFF) has been reconstituted for a term of two years, effective from August 21, 2025.
• The Reserve Bank of India (RBI) has proposed to expand the scope of capital charge for Counterparty Credit Risk (CCR).
• The Stand-Up India Scheme was launched on April 5, 2016, to promote entrepreneurship among women, Scheduled Castes (SC), and Scheduled Tribes (ST).
• The Reserve Bank of India (RBI) has authorized the Federal Bank to collect government receipts for the state of Maharashtra.
• India’s textile and apparel sector demonstrated resilience, with exports in July 2025 reaching $3.10 billion.
• Based on the Business Expectations Survey from the National Council of Applied Economic Research (NCAER), India’s Business Confidence Index (BCI) saw a sharp increase in the April-June quarter (Q1) of 2025-26.
• Life Insurance Corporation of India (LIC) has launched a nationwide campaign to help policyholders revive their lapsed individual insurance policies.
• The Competition Commission of India (CCI), which is the country’s primary antitrust regulator, has given its approval for Dalmia Bharat’s proposal to acquire a 100% stake in Jaiprakash Associates (JAL).
• The Indian Space Research Organisation (ISRO) is planning to launch several new remote sensing satellites by 2027-28 to enhance data collection over India, including the Union Territory of Ladakh.