Daily Current Affairs 17th July 2025 | Latest News | Download Free PDF

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CURRENT AFFAIRS : BANKING, FINANCE & BUSINESS

EximPe Gets In-Principle Approval for Cross-Border Payment Aggregator License

  • EximPe, a cross-border payments startup, has secured the Reserve Bank of India’s (RBI) in-principle approval for a Payment Aggregator Cross-Border (PA-CB) licence covering Export and Import
  • The company plans to offer cross-border pay-ins and pay-outs for:Digital services, E-commerce, Business-to-business (B2B) goods trade
  • EximPe targets entities across emerging Asian markets.
  • Other companies with RBI in-principle approval for PA-CB include: Skydo, BriskPe, PayPal, Wise
  • Seven other companies have their PA-CB licence applications under RBI review.
  • Only six companies currently have full PA-CB licences from RBI:
  1. Adyen India
  2. Amazon Pay India
  3. Cashfree Payments
  4. BillDesk
  5. Pay10
  6. Worldline ePayments India
  • EximPe aims to grow 10X by FY26 with this licence, focusing on expanding business in the India-Asia corridor, considered one of the highest growth global corridors.
  • EximPe has already processed over $450 million in transactions.
  • The company serves more than 5,000 small and medium-sized enterprises (SMEs), manufacturers, and service providers.
  • To date, EximPe has raised $3.5 million in equity funding (source: Tracxn).
  • CEO and Founder: Arjun Zacharia.

Securities and Exchange Board of India Introduces Settlement Scheme for Venture Capital Funds, Effective from July 21, 2025

  • The Securities and Exchange Board of India (SEBI) announced the VCF Settlement Scheme, 2025 for venture capital funds (VCFs) whose liquidation periods have expired but are not yet wound up.
  • The scheme will be effective from July 21, 2025 and will remain open until January 19, 2026.
  • The scheme was approved by the SEBI board during its June 2025 quarterly meeting.
  • Purpose: To provide an opportunity for VCFs to settle actions related to expired liquidation periods but which still hold unliquidated investments and have completed migration to the Alternative Investment Fund (AIF) regime.

Key Highlights :

  • SEBI’s VCF regulations were repealed after the introduction of the Alternative Investment Funds (AIF) Regulations in May 2012.
  • Some VCF schemes were unable to fully liquidate investments within the tenure, prompting the need for migration to the AIF regime.
  • Settlement application fee:Non-refundable fee of ₹25,000 plus 18% GST.
  • Settlement base amount:
  • ₹1,00,000 for delays up to one year,
  • Additional ₹50,000 for each subsequent year or part thereof.
  • Total settlement payable ranges from ₹1 lakh to ₹6 lakh, depending on the value of unliquidated investments held beyond scheme tenure.
  • The settlement amount and expenses are to be borne by the investment manager or sponsor, and cannot be recovered from the scheme, fund, or investors.
  • The scheme grants VCFs an additional period of one year to liquidate investments and wind up schemes.
  • Post-migration, VCFs may enter a dissolution period after obtaining investor approval.

About SEBI :

  • Established : 12 April 1988 as an executive body and was given statutory powers on 30 January 1992 through the SEBI Act, 1992
  • Headquarters : Mumbai, Maharashtra
  • Chairman : Tuhin Kanta Pandey
  • SEBI is the regulatory body for securities and commodity markets in India under the ownership of the Ministry of Finance (MoF), GoI.

CURRENT AFFAIRS: NATIONAL AND STATE NEWS

Union Cabinet Approves PM Dhan-Dhaanya Krishi Yojana to Transform Agriculture

  • Union Cabinet cleared the Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY), a six-year initiative (2025–26 to 2030–31) with an annual budget of ₹24,000 crore.
  • This scheme targets 100 agriculturally lagging districts to bolster productivity, infrastructure, and credit support for farmers.

Key Highlights:

  • 100 Targeted Districts: Selected based on low cropping intensity, poor productivity, and insufficient credit flow, ensuring each state has at least one beneficiary district.
  • ₹24,000 Crore Annual Outlay: Guarantees sustained funding over six years to address rural development and food security challenges.
  • Convergence of 36 Schemes: Integrates efforts across 11 ministries and promotes public–private partnerships for holistic support.
  • District-Level Planning: Each district will prepare a District Agriculture and Allied Activities Plan under a DDKY Samiti led by the District Collector.
  • Robust Governance Structure:
    • National, State, and District Committees to oversee implementation.
    • Central Nodal Officers and technical partners (e.g., Agriculture Universities) to provide sectoral expertise.
  • Performance Monitoring: A dashboard will track 117 indicators monthly, with NITI Aayog offering strategic guidance.

Greenfield Manginapudi Port Project Nears Halfway Mark, Set to Commence by 2026

  • A new greenfield port is under construction at Manginapudi, Machilipatnam (Andhra Pradesh), with 48% of work completed. Slated to open by late 2026, this strategic port will stimulate economic growth and generate employment for both Andhra Pradesh and Telangana.

Key Highlights:

  • Developer and Workforce: Constructed by Megha Engineering & Infrastructure Ltd (MEIL) with a workforce of ~1,250 personnel operating in two shifts.
  • Massive Dredging Operation: 56 million m³ of sand is being dredged to deepen the approach channel and berths.
  • Breakwater Construction: A 2.5 km-long breakwater using 2.1 million tonnes of rock is underway to shield the port from high sea waves.
  • Tetrapod Protection: Over 55% of the specially designed tetrapods (concrete wave-breaking units) have been positioned.
  • Phase-I Specifications: Investment of ₹ 5,155 crore for four berths, with future expansion potential to 16 berths and an annual handling capacity of 36 million tonnes.
  • Accommodates Large Vessels: Designed to berth ships up to 80,000 DWT, facilitating bulk and container traffic.

RECENT NEWS

  • The Government of Andhra Pradesh has started a new scheme called ‘Digi-Lakshmi’ on June 30, 2025, to help urban poor women become digital service providers. The State plans to set up 9,034 Common Service Centres (CSCs) across all Urban Local Bodies (ULBs).

India’s First RoRo Ferry Service Launched on Mandovi River in Goa

  • Goa Government launched India’s first Roll-on/Roll-off (RoRo) ferry service on the Mandovi River, connecting Chorao Island with Ribandar.
  • The initiative is aimed at easing daily commutes and enhancing tourism through faster and modern water transport.

Key Highlights:

  • Ferry names and capacity: Two high-speed ferries, Gangotri and Dwarka, have been deployed. Each can carry 100 passengers, 15 cars, and 30–40 two-wheelers.
  • Travel time significantly reduced: Travel duration between Chorao and Ribandar is now cut from 30 minutes to just 12–13 minutes due to the 10-knot speed, which is twice as fast as older ferries.
  • Modern facilities on board: Ferries include air-conditioned seating, emergency medical kits, and marked lanes for organized vehicle boarding.
  • Developed under BOOT model: Operated by Vijai Marine Shipyards, the project follows a Built-Own-Operate-Transfer (BOOT) model with zero cost to the Goa Government.

RECENT NEWS

  • On the momentous occasion of Goa’s 39th Statehood Day, celebrated on May 30, 2025, Chief Minister Dr. Pramod Sawant officially declared Goa as a fully literate state under the ULLAS – Nav Bharat Saaksharta Karyakram (New India Literacy Programme)

India’s Second Longest Cable-Stayed Bridge Inaugurated in Shivamogga, Karnataka

  • Union Minister Nitin Gadkari officially opened the Sigandur cable-stayed bridge, spanning the Sharavathi backwaters near Sagara.
  • Stretching 2.44 km, this structure will significantly improve road connectivity between Sagara and Sigandur, easing access to the renowned Chowdeshwari Temple, Karnataka.

Key Highlights:

  • Second longest cable-stayed bridge in India: The Sigandur bridge measures 2.44 km in length and 16 m in width, built at a cost of over ₹ 470 crore.
  • Restoration of lost links: Reestablishes vital road connections severed by the construction of the Linganamakki dam in the 1960s.
  • Enhanced regional access: Connects Sagara, Marakutika, nearby villages, and pilgrim routes, reducing travel time and boosting local mobility.
  • National Highway expansion in Karnataka: Network grew from 6,707 km in 2014 to 9,424 km in 2025, with ₹ 5 lakh crore of road works slated for completion by the end of the current government’s term.
  • Key state projects under way:
    • Belagavi–Hungund–Raichur corridor (by 2027)
    • Hassan–Raichur highway (by December 2028)
    • Tumakuru–Shivamogga road (by year-end)
    • Mysuru–Madikeri & Chitradurga–Shivamogga roads (next year)
  • Major national highway milestones:
    • Leh–Ladakh road via Zojila Tunnel to open in 2026
    • Surat–Chennai highway across six states (next year), cutting the distance to Bengaluru by 280 km and to Chennai by 320 km
    • Bengaluru–Chennai Expressway operational within six months, slashing travel time from eight hours to two hours.

RECENT NEWS

  • In a move that has stirred political debate, the Karnataka Cabinet, led by Chief Minister Siddaramaiah, approved an increase in the housing scheme quota for religious minorities from 10% to 15%.

India’s First Aqua Tech Park Inaugurated in Assam to Boost Modern Fish Farming

  • Chief Minister Himanta Biswa Sarma inaugurated the country’s first Aqua Tech Park in Sonapur, near Guwahati, Assam.
  • The park aims to enhance fish production and income for farmers by introducing advanced farming methods such as biofloc, aquaponics, and ornamental fish breeding.

Key Highlights:

  • First of its kind in India: The Aqua Tech Park in Sonapur is the nation’s first dedicated facility to train fish farmers in innovative, water-efficient techniques.
  • Implemented by NGO Kolong Kopili: The project is led by Kolong Kopili in collaboration with NABARD, ICAR-CIFA, Selco Foundation, and the Fishery Department.
  • Modern Techniques Promoted:
    • Biofloc technology: Enhances water quality and promotes faster fish growth.
    • Aquaponics system: Integrates fish and plant cultivation for sustainable output.
    • Ornamental fish breeding: Expands commercial fish farming options.
  • Assam’s fish production doubled: Between 2019 and 2024, Assam's fish production rose to 4.99 lakh metric tonnes, making it the 4th largest fish-producing state in India.

RECENT NEWS

  • Assam Cabinet approved several welfare measures to improve rural livelihoods, education, and traditional industries. The decisions include increasing pay for Gaon Pradhans and Anganwadi workers, launching the Gaja Mitra Scheme to prevent human-elephant conflict, and financial support for students and artisans.

CURRENT AFFAIRS : APPOINTMENTS & RESIGNATIONS

Hindustan Coca-Cola Beverages Appoints New Chief Executive Officer                  

  • The Coca-Cola Company announced that Hemant Rupani will join Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB) as CEO, effective September 8, 2025.
  • Hemant Rupani succeeds Juan Pablo Rodriguez, the outgoing CEO moving to another role within the Coca-Cola system.
  • Hemant Rupani will report to the HCCB board of directors.
  • Prior to this, Hemant spent nine years at Mondelez International Inc., currently serving as business unit president for Southeast Asia (countries include Indonesia, Philippines, Vietnam, Malaysia, Singapore, Thailand).
  • Hemant joined Mondelez in 2016 as director of sales for India, later becoming vice president and managing director for Vietnam, before his current role starting in 2022.
  • His earlier career includes:
  • Starting at ICI India Limited in 1997 (paint company).
  • Working with PepsiCo India (1999, then again 2004-2010), where he rose to senior vice president, customer marketing, India Beverages.
  • Roles at Infosys Technologies (2002) and Vodafone (2010).
  • Vice President, Sales and Business Head (Breads) at Britannia Industries (2014).
  • Hindustan Coca-Cola Beverages (HCCB) is the largest Coca-Cola bottler in India.
  • In December 2024, The Coca-Cola Company announced that Jubilant Bhartia Group will acquire a 40% stake in Hindustan Coca-Cola Holdings Pvt. Ltd., HCCB’s parent company.

R Doraiswamy Assumes Charge as CEO and Managing Director of LIC                

  • R Doraiswamy has officially taken charge as the Chief Executive Officer (CEO) and Managing Director (MD) of Life Insurance Corporation of India (LIC).
  • His tenure is for a three-year term or until he turns 62, whichever is earlier.
  • He succeeds interim CEO Sat Pal Bhanoo, who held the post from June 8, following the end of Siddhartha Mohanty’s term on June 7.
  • Doraiswamy is a LIC veteran with 38 years of experience and has served as one of LIC’s four Managing Directors since September 2023.
  • He played a key role in modernising LIC’s IT infrastructure, including:eFEAP Next, ULIP system centralisation
  • This appointment is part of broader leadership changes in LIC during the current fiscal year (FY 2025–26).
  • Ratnakar Patnaik and Dinesh Pant were also appointed as new Managing Directors (MDs) from June 1, 2025, replacing retired MDs M Jagannathan and Tablesh Pandey.

Ukrainian Prime Minister Denys Shmyhal Steps Down, Paving Way for Major Cabinet Reshuffle  

  • Ukraine’s Prime Minister Denys Shmyhal announced his resignation on July 15, 2025, marking the first formal step toward a significant government reshuffle under President Volodymyr Zelenskyy.
  • President Zelenskyy offered the Prime Minister position to Yuliia Svyrydenko, a 39-year-old Deputy Prime Minister and the country’s first female Economy Minister.
  • Yuliia Svyrydenko has played a key role in Negotiating the U.S.–Ukraine mineral agreement.
  • Representing Ukraine in high-level talks with Western partners focusing on:Defense cooperation, Economic recovery, Reconstruction
  • The Ukrainian Parliament must vote on Zelenskyy’s proposed changes amid the ongoing Russia-Ukraine war that began on February 24, 2022.
  • The reshuffle occurs during:Increasing Russian military pressure on the front lines, Escalating drone and missile attacks on Ukrainian cities.
  • U.S. President Donald Trump pledged to supply more weapons to Ukraine, funded by European countries.
  • Zelenskyy suggested Denys Shmyhal might be appointed as Defense Minister, which would free the current Defense Minister Rustem Umerov to become Ukraine’s envoy to Washington.
  • Zelenskyy also intends to replace U.S. Ambassador Oksana Markarova.
  • Rustem Umerov, appointed Defense Minister in September 2023, has sought reforms but faced criticism over mismanagement and corruption issues in the Defense Ministry.

About Ukraine :

  • Capital: Kyiv
  • President: Volodymyr Zelenskyy
  • Currency: Ukrainian hryvnia

CURRENT AFFAIRS : ACQUISITIONS & MERGERS

Japan’s SMBC Applies to RBI for Approval to Acquire Additional 4.9% Stake in Yes Bank  

  • Sumitomo Mitsui Banking Corporation (SMBC) from Japan has applied to the Reserve Bank of India (RBI) for approval to acquire an additional 4.9% stake in Yes Bank.
  • This acquisition would increase SMBC’s total ownership in Yes Bank to just under 25%.
  • In May 2025, SMBC agreed to purchase a 20% stake in Yes Bank for $1.6 billion.
  • The RBI is currently reviewing the proposal and has not yet given clearance.
  • The exact timeline for the additional stake purchase remains undisclosed.
  • Reports suggest SMBC plans to invest an additional $1.1 billion in Yes Bank for a 5% stake, currently held by Carlyle Group Inc. and other minority shareholders.
  • SMBC is also likely to acquire around $680 million worth of convertible bonds issued by Yes Bank to support its growth plans.
  • Yes Bank’s shares rose by up to 3.3% following the news before closing 2.3% higher.\
  • Both Yes Bank and the RBI have not publicly commented on the proposal; SMBC declined to comment on specific deals.

CURRENT AFFAIRS : SCIENCE & TECHNOLOGY

Shubhanshu Shukla Returns as India’s Deep Space Ambitions Take Off

  • Group Captain Shubhanshu Shukla became the first Indian to visit the International Space Station (ISS), orbiting Earth for 18 days aboard SpaceX's Dragon capsule as part of Axiom Mission 4 (Ax-4).
  • The mission involved 310+ orbits, covering 13 million km, and ended with a splashdown in the Pacific Ocean off San Diego on July 9, 2025.
  • India’s second astronaut in space after Rakesh Sharma (1984); Shukla's mission marks a historic milestone for India’s space ambitions.
  • Mission partners included ISRO, NASA, Axiom Space, and SpaceX, demonstrating international collaboration.
  • This mission serves as a precursor to India’s crewed space mission Gaganyaan, expected by 2027.
  • India aims to build its own space station by 2035 and conduct a crewed Moon mission by 2040 using Indian spacecraft and astronauts.
  • The mission cost India approximately ₹500 crore and included 60 experiments, of which 7 were developed by Indian institutions.
  • Shukla is a 2006-batch Indian Air Force officer, with 2,000+ hours of flying experience on Su-30 MKI, MiG-29, Jaguar, and Dornier-228 He is an alumnus of IISc Bengaluru.
  • Prime Minister Narendra Modi lauded the mission, calling it a "milestone for Gaganyaan" and praising Shukla's "dedication, courage and pioneering spirit."
  • Pawan Kumar Chandana, co-founder of Skyroot Aerospace, stated that this collaboration could expand India’s share in the global space economy (currently at 2%).
  • The mission reflects India's evolving space capabilities and symbolizes a shift toward full-scale deep space exploration.

India Acquires GE-F404 Engine to Power Fighter Planes                                     

  • India received the 2nd GE-F404 engine from the United States on July 15, 2025 for the Light Combat Aircraft (LCA) Mark-1A fighter jet programme.
  • Hindustan Aeronautics Limited (HAL) took delivery of the engine.
  • 12 more GE-F404 engines are expected to be delivered by the end of FY2025-26.
  • The engines are to be fitted on LCA Mark-1A jets, developed indigenously.
  • Engine delivery was delayed by over a year due to supply chain disruptions faced by the U.S. manufacturer.
  • The Indian Air Force (IAF) has placed orders for 83 LCA Mk-1A fighter aircraft.
  • A proposal to procure 97 additional LCA Mk-1A jets has received Defence Ministry clearance and is at an advanced stage.
  • The first GE-F404 engine was delivered in March 2025.
  • HAL aims to deliver 10+ LCA Mk-1A jets to the IAF in the near term.
  • In August 2021, HAL signed a deal worth ₹5,375 crore with GE Aerospace for 99 GE-F404 engines.
  • Defence Minister Rajnath Singh recently discussed India-U.S. defence cooperation with U.S. Defence Secretary Pete Hegseth.

CURRENT AFFAIRS: AWARDS AND HONOURS

President Murmu Confers Kalinga Ratna Award 2024 to Dharmendra Pradhan

  • At a special event in Cuttack, Odisha, President Droupadi Murmu presented the Kalinga Ratna Award 2024 to Union Education Minister Dharmendra Pradhan.
  • The ceremony marked the 600th birth anniversary of Adikabi Sarala Das, a revered figure in Odia literature, and emphasized the importance of linguistic diversity, cultural heritage, and educational reform in India.

Key Highlights:

  • Award Significance: The Kalinga Ratna Award, instituted by Sarala Sahitya Sansad, honours individuals for outstanding contributions in education, literature, culture, or public service.
  • 2024 Recipient: Dharmendra Pradhan was recognized for his efforts in educational reforms and promotion of Indian languages through initiatives aligned with NEP 2020.
  • Literary Context: The award ceremony was part of celebrations honouring Adikabi Sarala Das, known for writing the Odia Mahabharata, which significantly shaped Odia literary tradition.
  • Presidential Address: President Murmu highlighted the theme of unity in diversity and underlined the role of literature in connecting language, culture, and education. She endorsed the National Education Policy (NEP) 2020 for supporting mother-tongue instruction.
  • Legacy of Sarala Das: Credited as the first poet of Odia literature, Sarala Das played a crucial role in regionalizing classical Indian texts, fostering linguistic pride.
  • Additional Honour: Bijaya Nayak, an acclaimed short story writer, received the Sarala Samman for his contribution to contemporary Odia literature.

CURRENT AFFAIRS: IMPORTANT DAYS

World Day for International Justice 2025: July 17

  • Every year on July 17, the day of many names, also known as International Justice Day, World Day for International Justice, or Day of International Criminal Justice, is celebrated in an effort to acknowledge the system of international justice.

History

  • Between 1945–1949, The victorious Allied governments established an International Military Tribunal in Nuremberg, Germany, to bring justice to perpetrators of World War II — major Nazi war criminals are indicted.
  • On April 29, 1946, The Tokyo Trials took place, and An International Military Tribunal for the Far East (IMTFE) is created in Tokyo, Japan, to punish major war criminals in the Far East.
  • On July 17, 1998,120 states adopted the treaty known as the Rome Statute, thus informally establishing the International Criminal Court.
  • On July 1, 2002, 60 countries ratified the Rome Statute, making the International Criminal Court official.
  • On June 1, 2010, The Assembly of State Parties decided to celebrate the day the Rome Statute was adopted as the World Day for International Justice.
  • On July 10, 2012, Congolese criminal warlord, Thomas Lubanga Dyilo, was the first person to be convicted and sentenced by the ICC and he was sentenced to 14 years in prison.

Daily CA One- Liner: July 17

  • Union Cabinet cleared the Prime Minister Dhan-Dhaanya Krishi Yojana (PM-DDKY), a six-year initiative (2025–26 to 2030–31) with an annual budget of ₹24,000 crore
  • A new greenfield port is under construction at Manginapudi, Machilipatnam (Andhra Pradesh), with 48% of work completed. Slated to open by late 2026, this strategic port will stimulate economic growth and generate employment for both Andhra Pradesh and Telangana
  • Goa Government launched India’s first Roll-on/Roll-off (RoRo) ferry service on the Mandovi River, connecting Chorao Island with Ribandar.
  • Union Minister Nitin Gadkari officially opened the Sigandur cable-stayed bridge, spanning the Sharavathi backwaters near Sagara.
  • Chief Minister Himanta Biswa Sarma inaugurated the country’s first Aqua Tech Park in Sonapur, near Guwahati, Assam
  • At a special event in Cuttack, Odisha, President Droupadi Murmu presented the Kalinga Ratna Award 2024 to Union Education Minister Dharmendra Pradhan
  • Every year on July 17, the day of many names, also known as International Justice Day, World Day for International Justice, or Day of International Criminal Justice, is celebrated in an effort to acknowledge the system of international justice
  • EximPe, a cross-border payments startup, has secured the Reserve Bank of India’s (RBI) in-principle approval for a Payment Aggregator Cross-Border (PA-CB) licence covering Export and Import transactions.
  • The Securities and Exchange Board of India (SEBI) announced the VCF Settlement Scheme, 2025 for venture capital funds (VCFs) whose liquidation periods have expired but are not yet wound up.
  • The Coca-Cola Company announced that Hemant Rupani will join Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB) as CEO, effective September 8, 2025.
  • R Doraiswamy has officially taken charge as the Chief Executive Officer (CEO) and Managing Director (MD) of Life Insurance Corporation of India (LIC).
  • Ukraine’s Prime Minister Denys Shmyhal announced his resignation on July 15, 2025, marking the first formal step toward a significant government reshuffle under President Volodymyr Zelenskyy.
  • Sumitomo Mitsui Banking Corporation (SMBC) from Japan has applied to the Reserve Bank of India (RBI) for approval to acquire an additional 4.9% stake in Yes Bank.
  • Group Captain Shubhanshu Shukla became the first Indian to visit the International Space Station (ISS), orbiting Earth for 18 days aboard SpaceX's Dragon capsule as part of Axiom Mission 4 (Ax-4).
  • India received the 2nd GE-F404 engine from the United States on July 15, 2025 for the Light Combat Aircraft (LCA) Mark-1A fighter jet programme.
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