Current Affairs Quiz 17th October 2025 Quiz

Exp. Standard Chartered & Bank of India Finance USD 215 Million for Air India’s Fleet Expansion via GIFT City

Standard Chartered and Bank of India have jointly financed a USD 215 million term loan for AI Fleet Services IFSC Limited (AIFS), Air India’s leasing arm based in GIFT City, Gujarat, to fund six Boeing 777-300 ER aircraft for fleet expansion.

The seven-year amortising loan is the first commercial aircraft financing structured with a GIFT City borrower, with Standard Chartered as Structuring Bank and both banks acting as Mandated Lead Arrangers and Bookrunners (MLAB).

Air India, operating 55 domestic and 45 international routes, is expanding its fleet under the Vihaan.AI five-year transformation program, including an order of 570 new aircraft, with GIFT City serving as a key financing hub for this initiative.

Exp. Universal Sompo Partners with Andhra Pradesh Grameena Bank to Expand Insurance Access Across Rural Andhra Pradesh

Universal Sompo General Insurance Company has partnered with Andhra Pradesh Grameena Bank (APGB) to provide a wide range of general insurance products across all 26 districts of Andhra Pradesh, focusing on rural and semi-urban areas.

APGB, with its strong network of 1,351 branches, supports agriculture, MSMEs, self-help groups (SHGs), small and marginal farmers, and promotes financial inclusion through priority sector lending.

The collaboration aims to offer customised insurance solutions under the State Insurance Plan, covering crop loss, property damage, and health emergencies, thereby enhancing affordable insurance access and delivering integrated financial and insurance services to the rural population.

Exp. FM Nirmala Sitharaman Inaugurates Farmers Training and Common Facility Centre in Koppal to Boost Agri Value Addition and Modern Farming

Union Finance Minister Nirmala Sitharaman inaugurated the Farmers Training and Common Facility Centre at Methagal village, Koppal (North Karnataka), built with financial aid under MPLADS and executed by NABARD, to support Farmer-Producer Organisations (FPOs) and promote modern farming and food processing.

The centre has the capacity to process 840 metric tonnes of mango and 600 metric tonnes of papaya into dry powder, juice, and pulp, all FSSAI-certified products ensuring easy urban market access and better income through value addition for farmers.

Exp. India Elected Unopposed to UN Human Rights Council for 2026–2028 Term

India has been elected unopposed to the UN Human Rights Council for the seventh time, for the 2026–2028 term, starting next year.

Permanent Representative P. Harish stated that the election reflects India’s strong commitment to human rights and fundamental freedoms, expressing gratitude for the global support.

The Human Rights Council, established in 2006 by the UN General Assembly, has 47 member countries and serves as the primary UN body for promoting and protecting human rights globally.

About the UN Human Rights Council (UNHRC)

• The UN Human Rights Council (UNHRC) is the main inter-governmental body within the United Nations responsible for promoting and protecting human rights worldwide.
• It was established in 2006 by the UN General Assembly, replacing the former UN Commission on Human Rights.
• The Council consists of 47 member countries, elected for three-year terms on a regional group basis.
• The UNHRC meets in Geneva, Switzerland, at the Palais des Nations, and holds regular and special sessions to address urgent human rights issues.
• Its key functions include reviewing human rights situations in all UN member states, conducting the Universal Periodic Review (UPR), and making recommendations for the promotion and protection of rights globally.

Exp. 16 October – World Food Day (WFD)

World Food Day (WFD) is observed every year on 16 October to raise awareness about global food security, nutrition, and the importance of eradicating hunger.

Theme 2025 – Hand in Hand for Better Foods and a Better Future

It marks the founding day of the Food and Agriculture Organization (FAO) of the United Nations, which was established on 16 October 1945.

The day aims to highlight issues related to hunger, food security, sustainable agriculture, and malnutrition, emphasizing that access to safe and nutritious food is a fundamental human right.

Exp. Anant Goenka Named FICCI President-Elect for 2025-26

FICCI announced Anant Goenka, Vice Chairman of RPG Group, as President-Elect for 2025-26, succeeding Harsha Vardhan Agarwal after the annual general meeting.

Mr Goenka has previously served as MD and CEO of CEAT and has also worked with Unilever and KEC International.

He holds an MBA from Kellogg School of Management and a BS in Economics from the Wharton School, University of Pennsylvania.

Exp. Axis Finance to Become Upper-Layer NBFC, Plans for Future Stock Exchange Listing

Axis Finance, the wholly owned non-banking finance subsidiary of Axis Bank, is set to be classified as an upper-layer NBFC due to the size of its Assets Under Management (AUM).

Following its classification, Axis Bank plans to list Axis Finance on recognised stock exchanges in the future, as part of regulatory requirements and strategic growth.

As per RBI norms, an NBFC classified in the upper layer must mandatorily list its shares on a recognised stock exchange within three years of such classification.

Exp. Hindustan Shipyard Limited Achieves Mini Ratna Status

Hindustan Shipyard Limited (HSL) has been conferred Mini Ratna status, recognising its financial revival, operational excellence, and growing contribution to India’s maritime and defence sectors.

Established in 1941, HSL has been central to India’s shipbuilding capabilities. It faced prolonged financial difficulties from the 1980s, and even after being transferred to the Ministry of Defence in 2010, its net worth remained negative.

Post-2015, HSL undertook targeted reforms in financial management, productivity, and technological modernisation, resulting in a sustained turnaround and eventual recognition as a Mini Ratna company.

Achieving Mini-Ratna status will grant HSL enhanced financial autonomy, allowing it to make investments up to Rs 500 crore or an amount equal to its net worth, whichever is lower.

Exp. Defence Minister Approves 100% Hike in Financial Assistance for Ex-Servicemen and Dependents

Defence Minister Rajnath Singh approved a 100% increase in financial assistance, doubling the penury grant from ₹4,000 to ₹8,000 per month per beneficiary, supporting aged and non-pensioner Ex-Servicemen and widows above 65 years with no regular income.

The education grant has been raised from ₹1,000 to ₹2,000 per month per child for up to two dependent children, while the marriage grant has increased from ₹50,000 to ₹1 lakh per beneficiary.

The revised rates are effective for applications submitted from 1st November 2025, with an annual financial implication of approximately ₹257 crore.

These schemes are funded through the Raksha Mantri Ex-Servicemen Welfare Fund, a subset of the Armed Forces Flag Day Fund, reinforcing the government’s commitment to the social security of veterans and their families.

Exp. Ministry of Defence Signs ₹659.47 Crore Contract for Advanced Night Sights for Indian Army’s 7.62x51mm Assault Rifles

The Ministry of Defence signed a ₹659.47 crore contract with a consortium of MKU Ltd (Lead Member) and Medbit Technologies Pvt Ltd for the procurement of Night Sight (Image Intensifier) devices for 7.62x51mm Assault Rifles of the Indian Army.

The new Advanced Night Sights will enhance the SIG 716 Rifle’s effective range up to 500 metres, even under starlit conditions, offering superior performance compared to existing Passive Night Sights.

The procurement, classified as a Buy (Indian-IDDM) project with over 51% indigenous content, aligns with the goal of Aatmanirbhar Bharat in defence manufacturing and will benefit MSMEs involved in production and supply.

Exp. Indian Navy Hosts 5th Edition of Bilateral Maritime Exercise ‘Samudra Shakti – 2025’ with Indonesian Navy at Visakhapatnam

The Indian Navy is hosting the 5th edition of the Indo-Indonesian bilateral maritime exercise ‘Samudra Shakti – 2025’ at Visakhapatnam, with participation from INS Kavaratti and Indonesian Navy Ship KRI John Lie.

The harbour phase includes activities like Cross Deck Visits, Joint Yoga Sessions, Friendly Sports Fixtures, and Professional Subject Matter Expert Exchanges (SMEE) to enhance professional ties.

The sea phase will feature advanced maritime operations such as Helicopter Operations, Air Defence Exercises, Weapon Firing Drills, and Visit, Board, Search and Seizure (VBSS) exercises to strengthen tactical coordination.

Exp. DRDO Successfully Tests Indigenous Military Combat Parachute System (MCPS) at 32,000 Feet

The Military Combat Parachute System (MCPS), indigenously developed by DRDO, was successfully tested through a combat freefall jump from 32,000 feet, demonstrating its reliability and advanced design.

This achievement makes MCPS the only parachute system currently in operational use by the Indian Armed Forces capable of deployment above 25,000 feet.

The system was jointly developed by Aerial Delivery Research and Development Establishment (Agra) and Defence Bioengineering and Electromedical Laboratory (Bengaluru) of DRDO.

Equipped with enhanced tactical features such as a lower rate of descent, superior steering, and Navigation with Indian Constellation (NavIC) compatibility, the MCPS ensures accurate navigation, safe landing, and immunity from foreign signal interference.

Exp. Ministry of Mines Releases State Mining Readiness Index (SMRI) to Boost Mining Sector Reforms

The Ministry of Mines launched the State Mining Readiness Index (SMRI) and State rankings to promote mining sector reforms at the State level, fulfilling a Union Budget 2025–26 announcement.

The SMRI evaluates States on parameters such as auction performance, mine operationalisation, exploration focus, and sustainable mining practices for non-coal minerals.

States are divided into three categories:

• Category A (mineral-rich): Madhya Pradesh, Rajasthan, and Gujarat topped.
• Category B: Goa, Uttar Pradesh, and Assam led.
• Category C: Punjab, Uttarakhand, and Tripura ranked highest.

The index aims to benchmark State performance, encourage healthy competition, and accelerate mining reforms and sustainable resource management across India.

Exp. 16 October – World Anaesthesia Day

World Anaesthesia Day is observed annually on 16 October to commemorate the first successful demonstration of ether anesthesia in 1846 by William T.G. Morton, a dentist in Boston, USA.

Theme 2025 – Anaesthesiology in Health Emergencies

The day celebrates the role of anaesthesiologists in medicine, highlighting their contribution to pain-free surgery and patient safety.

It also raises awareness about advancements in anaesthesia techniques, patient care, and the importance of safe surgical practices.

Exp. 16 October – World Spine Day

World Spine Day is observed annually on 16 October to raise awareness about spinal health, posture, and prevention of back pain.

Theme 2025 – Invest in Your Spine

The day highlights the importance of maintaining a healthy spine for overall well-being, mobility, and quality of life.

It is celebrated under the aegis of the World Federation of Chiropractic (WFC) and other global health organizations.