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Daily Current Affairs 15th 16th and 17th August 2025 Daily GK Update
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National News
Rapido Launches ‘Ownly’ App, Enters Food Delivery with Zero-Commission Model
- Rapido has launched ‘Ownly’, a standalone mobile app for food delivery, initially servicing Koramangala, HSR, and BTM Layout, to compete with Swiggy, Zomato, and Magicpin.
- The launch follows Rapido’s discussions with the National Restaurants Association of India (NRAI), representing over 50,000 eateries, to finalise terms for onboarding restaurant partners.
- Ownly will operate on a zero-commission model, with restaurant partners paying the delivery fee for orders within a standard radius of four kilometers or less.
Union Minister of Steel and Heavy Industries Launches Logo, brochure and website of ‘Bharat Steel’
- Union Minister H.D. Kumaraswamy launched the official logo, brochure, and website of ‘Bharat Steel’ at Vigyan Bhawan, New Delhi, marking a major step for the Ministry of Steel’s flagship international conference-cum-exhibition on the steel ecosystem.
- The launch was held during a workshop for the secondary steel sector, reflecting the government’s focus on promoting growth, innovation, and sustainability in the entire steel value chain.
- Bharat Steel aims to become India’s largest steel exhibition and position the country as a global hub for innovation and investment in the steel industry.
IGNCA & BSIP Sign Historic MoU to Unite Science and Culture on a Single Platform
- The Indira Gandhi National Centre for the Arts (IGNCA), New Delhi, and the Birbal Sahni Institute of Palaeosciences (BSIP), Lucknow, signed an MoU at IGNCA, marking India’s first initiative to integrate science and culture on a unified platform.
- The collaboration aims to showcase India’s scientific and cultural achievements to domestic and global audiences, preserve and interpret heritage, and foster awareness through innovative programmes.
- The MoU was signed by Dr. Sachchidanand Joshi and Mahesh G. Thakkar, with Dr. Achal Pandya (IGNCA) and Dr. Shilpa Pandey (BSIP) designated as nodal officers for interdisciplinary research, joint events, and shared expertise.
Arintra Raises $21M Series A Led by Peak XV to Expand AI-Powered Medical Coding Platform
- Arintra, a GenAI-powered medical coding platform, has raised $21 million in Series A funding led by Peak XV Partners, with participation from Endeavor Health Ventures, Y Combinator, and others, to boost nationwide adoption, product development, team expansion, and establish a Bay Area HQ.
- The platform ensures accurate and efficient reimbursement for healthcare providers through a proactive, outcomes-driven approach, enhancing revenue assurance.
- Arintra has processed over $1 billion in healthcare charges, with Mercyhealth reporting a 5.1% revenue increase, 43% fewer denials, and 32% reduced costs using the platf
NSIC Signs MoUs with Five Banks to Boost Credit Access for MSMEs
- NSIC signed MoUs with Axis Bank, Dhanlaxmi Bank, Karnataka Bank, AU Small Finance Bank, and IndusInd Bank on 11th August 2025 under its MSME Credit Facilitation Program to enhance availability, accessibility, and affordability of credit for MSMEs.
- The MoU exchange event was attended by Union MSME Minister Jitan Ram Manjhi, MSME Secretary S.C.L. Das, NSIC Director (Finance) Gaurav Gulati, and senior officials from the Ministry, NSIC, and participating banks.
- The collaboration aims to support MSMEs in connecting with the formal financial system, expanding bank outreach to micro & small enterprises, and boosting last-mile credit delivery.
AI-Powered ‘SabhaSaar’ to Revolutionize Panchayat Meetings with Automated Summarisation
- Union Minister Rajiv Ranjan Singh will launch ‘SabhaSaar’, an AI-powered meeting summarisation tool by the Ministry of Panchayati Raj, designed to automatically generate Minutes of Meeting (MoM) from Gram Sabha and Panchayat meetings’ audio/video recordings.
- SabhaSaar, powered by AI & NLP technologies, will transcribe discussions, capture key decisions/action points, and provide structured minutes. Integrated with Bhashini, it currently supports 13 Indian languages.
- The initiative aims to strengthen participatory democracy and improve efficiency in local governance by reducing manual documentation, ensuring transparency and accountability, and allowing Panchayat officials to focus more on service delivery.
International News
E3 Nations Warn Iran of Snapback UN Sanctions Over Stalled Nuclear Talks
- France, Germany, and the UK (E3) have warned Iran of reimposing snapback UN sanctions under the 2015 Joint Comprehensive Plan of Action (JCPOA) if it does not resume negotiations or request a deadline extension.
- The E3, formed in 2003 as an informal security and foreign policy arrangement between the UK, Germany, and France, initially focused on managing nuclear risks from Iran after the Iraq war.
- In 2015, Iran signed the JCPOA with the E3/EU+3, agreeing to nuclear monitoring in exchange for lifting UN sanctions, with the E3 playing a key role in its implementation.
Banking and Financial
RBI to Introduce Continuous Clearing with On-Realisation Settlement in Cheque Truncation System from October 2025
- The RBI will transition the Cheque Truncation System (CTS) from batch processing to “continuous clearing with on-realisation settlement” in two phases, starting October 4, 2025, and January 3, 2026, to improve efficiency, reduce settlement risk, and enhance customer experience.
- Under the new system, cheques will be scanned and sent to the clearing house continuously between 10 AM and 4 PM, with drawee banks processing them in real time and providing positive or negative confirmations by 7 PM.
- Hourly settlements will begin at 11 AM, based on positive confirmations from drawee banks, and continue until the end of the confirmation session.
- Presenting banks will credit customers within one hour of successful settlement, subject to safeguards, ensuring faster cheque clearing compared to the current two-working-day cycle.
SEBI Allows IAs and RAs to Use Liquid & Overnight Mutual Funds for Mandatory Deposit Compliance
- SEBI has allowed Investment Advisers (IAs) and Research Analysts (RAs) to use liquid and overnight mutual funds for fulfilling their mandatory deposit requirements, offering an alternative to deposits with scheduled banks.
- Overnight mutual funds are a type of debt mutual fund investing in overnight securities, i.e., debt instruments with a maturity of just one day.
- Currently, IAs and RAs are required to maintain a specified deposit with a scheduled bank, marked as a lien in favour of IAASB or RAASB as applicable.
- The move follows representations from industry participants and public consultation feedback, with SEBI’s board approving the proposal in June 2025 and notifying amendments to the relevant norms on August 6–7, 2025.
NPCI to Halt P2P UPI ‘Collect Requests’ from October 1 to Curb Frauds
- NPCI has instructed banks and payment apps to stop all peer-to-peer (P2P) UPI “collect requests” from October 1, 2025, in a move aimed at curbing frauds, while the peer-to-merchant (P2M) collect feature will remain unaffected.
- The UPI “collect” feature lets a user send a payment request to another UPI user, who must approve it for the payment to be processed; currently, the per-transaction limit is ₹2,000 and the daily successful P2P credit transaction cap is 50.
- Fraud cases involving “collect requests” were common in UPI’s early days but have declined sharply after NPCI capped the transaction value to ₹2,000.
- UPI usage hit a record 19.47 billion transactions worth ₹25.08 lakh crore in July 2025, up 35% and 22% y-o-y respectively, with an average of 628 million transactions daily.
Generative AI to Boost Banking Efficiency in India by 46%, Says RBI Report
- The Reserve Bank of India (RBI) reported that Generative AI could enhance banking operations in India by up to 46%, improving efficiency, customer understanding, and personalised services.
- The generative AI segment in India is projected to exceed ₹1.02 lakh crore (~USD 12 billion) by 2033, with an annual growth rate of 28–34%.
- RBI highlighted that AI adoption across the financial services sector is expected to directly boost revenue growth in the coming years.
- In India, where millions lack formal banking access, AI can assess creditworthiness using non-traditional data sources, expanding financial inclusion.
WPI Falls to -0.6% in July; Retail Inflation Hits 8-Year Low at 1.55%
- Wholesale inflation (WPI) fell to (-)0.6% in July 2025 from (-)0.1% in June, mainly due to declining prices of food articles, mineral oils, crude petroleum, natural gas, and basic metals, with food articles recording a deflation of 6.29%.
- Retail inflation (CPI) dropped to 1.55% in July, the lowest in 8 years, compared to 2.1% in June, raising expectations for a possible policy interest rate cut by the RBI in October.
- Vegetables saw a sharp price fall, with deflation at 28.96% in July (from 22.65% in June), while manufactured products inflation rose slightly to 2.05%; fuel and power inflation remained negative at 2.43%.
Recent WPI-based Wholesale inflation in India
- January 2025 – 31%
- February 2025 – 2.38%
- March 2025 –2.05%
- April 2025 –0.85%
- May 2025 – 0.39%
- June 2025 – (-)0.1%
Appointment
Abhijit Kishore Appointed Vodafone Idea CEO
- Vodafone Idea announced the appointment of its current COO Abhijit Kishore as the new Chief Executive Officer (CEO) and Key Managerial Personnel for a term of three years.
- The appointment follows the completion of the three-year term of Akshaya Moondra, whose tenure ends on 18 August 2025; Moondra had replaced Ravinder Takkar as CEO in August 2022.
Recent Appointments
- Chairperson of Central Board of Secondary Education (CBSE) – Rahul Singh (2 years extension until Nov 2027).
- CEO of Bimaplan – Anurag Mishra
- Chairperson of Capacity Building Commission – S Radha Chauhan; for 3 years
- Chairman of Broadcast Audience Research Council (BARC) India – Gaurav Banerjee (replace Shashi Sinha); for 3 years
- CEO of Jaguar Land Rover – P B Balaji
Odisha Appoints Madhuri Dixit as Brand Ambassador for State’s Handloom Industry
- The Odisha Government has appointed Bollywood actress Madhuri Dixit as the brand ambassador of the state’s handloom industry.
- Chief Minister Mohan Charan Majhi made the announcement during the inauguration of ‘EKTA’ (Exhibition-cum-Knowledge Sharing for Textile Advantage), held to mark the 11th National Handloom Day celebrations in the state.
Recent Brand Ambassador
- Shah Rukh Khan – Zomato (for Fuel Your Hustle Campaign)
- MS Dhoni – ACKO
- MS Dhoni – Dettol’s ‘Icy Cool’ Range
- Shubman Gill – Oakley
- Anil Kumble – Karnataka Forest and Wildlife Department
- Kapil Dev – Sobo Mumbai Falcons team for T20 Mumbai League season 2025
President Appoints Manipur Governor Ajay Kumar Bhalla as Governor of Nagaland
- Manipur Governor Ajay Kumar Bhalla has been given additional charge as the Governor of Nagaland, as per a communique from the President’s office.
- The appointment comes after the demise of Nagaland Governor La Ganesan, who passed away at the age of 80 in a Chennai hospital.
- Ajay Kumar Bhalla will now discharge the functions of the Nagaland Governor along with his duties as the Governor of Manipur.
About Nagaland
- Formation – 1 December 1963
- Capital- Kohima
- Chief Minister- Neiphiu Rio
- Governor- Ajay Kumar Bhalla (additional charge)
Awards
1090 Personnel Honoured with Gallantry and Service Medals on Independence Day
- A total of 1090 Personnel of Police, Fire, Home Guard and Civil Defence and Correctional Services have been awarded Gallantry and Service Medals on the occasion of Independence Day.
- According to the Home Ministry, 233 personnel have been awarded the Medal for Gallantry (GM), 99 personnel awarded the President’s Medal for Distinguished Service (PSM) and 758 personnel awarded the Medal for Meritorious Service (MSM).
- Medals for Gallantry (GM) are awarded on the grounds of the Rare Conspicuous Act of Gallantry and Conspicuous Act of Gallantry respectively in saving life and property, or in preventing crime or arresting criminals.
- The President’s Medal for Distinguished Service (PSM) is awarded for special distinguished record in Service and Medal for Meritorious Service (MSM) is awarded for valuable service characterised by resource and devotion to duty.
Sports
German Grandmaster Vincent Keymer wins Quantbox Chennai Grand Masters 2025
- German Grandmaster Vincent Keymer clinched the Quantbox Chennai Grand Masters 2025 title with one round to spare, becoming the first sole champion in the event’s history.
- With this victory, Keymer entered the world’s Top 10 live rankings for the first time in his career.
- In the Challengers section, GM Pranesh M leads with 6.5 points, followed by GM Abhimanyu Puranik and GM Leon Luke Mendonca, who are just half a point behind.
Book and Author
Former Chief Justice DY Chandrachud’s first book, Why the Constitution Matters
- The cover of “Why the Constitution Matters”, the first book by former Chief Justice of India Justice D.Y. Chandrachud, has been unveiled; it will be published by Penguin Random House by the end of August.
- Justice D.Y. Chandrachud, who retired in November 2024 as the 50th Chief Justice of India, was succeeded by Justice Sanjay Khanna (51st CJI) and later by Justice Bhushan Ramakrishna Gavai (52nd CJI).
- The book highlights constitutional values through Chandrachud’s landmark judgments on right to privacy, decriminalization of homosexuality, and gender equality in the armed forces.
Recent Books
- The Rise of the Hitman – R Kaushik
- Confessions of a Shakespeare Addict – Retired IPS Officer V.S. Ravi
- Eternal Light: The Life and Times of His Holiness the 14th Dalai Lama – Arvind Yadav (autobiograohy of Dalai Lama)
- Janta Ki Kahani – Meri Aatamkatha – Haryana Governor Bandaru (released by VP Dhankar)
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