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Daily Current Affairs 29th August 2025 Daily GK Update
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National News
CCI approves acquisition of Jaiprakash Associates Limited by Adani Group Entities
- The Competition Commission of India (CCI) has approved the acquisition of Jaiprakash Associates Limited (JAL) by entities of the Adani Group.
- The deal involves acquisition of up to 100% shareholding of JAL by Adani Enterprises Limited (AEL), Adani Infrastructure & Developers Pvt. Ltd. (AIDPL), or any other Adani Group entity.
- JAL is currently undergoing corporate insolvency resolution under the Insolvency and Bankruptcy Code, 2016, as directed by the NCLT, Allahabad Bench.
India’s Industrial Growth Accelerates to 3.5% in July 2025
- India’s Index of Industrial Production (IIP) grew 5% year-on-year in July 2025, compared to 1.5% growth in June, mainly supported by a 5.4% rise in the manufacturing sector.
- The mining sector contracted by 7.2%, electricity grew only 0.6%, while the overall IIP rose to 155.0 (July 2025) from 149.8 a year earlier.
- Within manufacturing, 14 of 23 industries grew, with strong performance in basic metals (+12.7%), electrical equipment (+15.9%), and non-metallic mineral products (+9.5%).
- Use-based data showed a mixed trend: infrastructure & construction goods (+11.9%), intermediate goods (+5.8%), and consumer durables (+7.7%) were major contributors, while primary goods (-1.7%) contracted.
India, Bhutan sign MoU on technical cooperation in Agro & allied sectors
- India and Bhutan signed an MoU on Technical Cooperation in Agriculture and Allied Sectors in Thimphu, marking a major step in strengthening bilateral ties.
- The MoU focuses on food security, sustainable farming, rural prosperity, and collaboration in agricultural research, livestock health, post-harvest management, and value chain development.
- It also emphasizes the exchange of knowledge, skills, and expertise between the two nations, reflecting their shared vision for agricultural growth and innovation.
Banking & Financial News
Unity Bank and BharatPe partner to launch India’s first EMI-driven card
- BharatPe, in partnership with Unity Small Finance Bank, launched the Unity Bank BharatPe Credit Card on the NPCI RuPay network, which can be seamlessly linked with UPI for secure payments.
- The card offers industry-first features covering groceries, bill payments, travel, utilities, insurance, and lifestyle spends across both online and offline platforms.
- With a zero-fee structure, the card has no joining fee, annual fee, or hidden charges, and allows penalty-free EMI prepayments, ensuring transparency and stress-free credit access.
Recent MoUs Signed in Banking Sector
- L & T Finance Ltd. Partners with Google Pay to Offer Personal Loans to its Eligible Users
- PNB Partners with CRPF to Offer Enhanced Insurance and Benefits under Rakshak Plus Scheme
- India Exim Bank signs $40 million credit line deal with Africa’s ECOWAS Bank
- Indian Overseas Bank Partners with Mumbai Metro One to Launch Smart Ticketing Solutio
- HDFC ERGO Partners with PhonePe to Launch Affordable Health Insurance for Young Adults
- PhonePe Partners with SBI Card to Launch PURPLE and SELECT BLACK Co-Branded Credit Cards
Infosys Partners with Mastercard to Enhance Global Cross-Border Payments via Finacle Platform
- Infosys and Mastercard announced a strategic collaboration to scale cross-border payments, integrating Mastercard’s money movement solutions with Infosys Finacle, the digital banking suite of EdgeVerve Systems.
- The partnership will allow financial institutions faster and more efficient access to Mastercard Move, which supports payments across 200+ countries and 150 currencies, covering 95% of the global banked population.
- The collaboration aims to strengthen financial institutions’ ability to deliver fast, safe, and seamless cross-border payment experiences to customers worldwide.
Appointments
India and Canada Appoint New High Commissioners to Restore Diplomatic Ties
- India appointed Dinesh K. Patnaik, a 1990-batch IFS officer and current Ambassador to Spain, as the next High Commissioner to Canada, while Canada named veteran diplomat Christopher Cooter as its new High Commissioner to India.
- The appointments mark a step toward normalizing diplomatic relations, which had soured after India recalled High Commissioner Sanjay Kumar Verma in October 2024 over tensions arising from former PM Justin Trudeau’s remarks.
Former RBI Governor Urjit Patel Appointed IMF Executive Director for Three Years
- Former RBI Governor Urjit Patel has been appointed as Executive Director at the International Monetary Fund (IMF) for a period of three years.
- Patel, who served as RBI Governor from September 2016 to December 2018, had resigned citing personal reasons after a public spat with the government, becoming the first RBI Governor since 1990 to step down before completing his tenure.
- He has earlier worked with the IMF and also served as RBI Deputy Governor (1996–97), contributing to reforms in debt markets, banking, pensions, and foreign exchange.
About International Monetary Fund (IMF)
- Founded – 1945
- Headquarters- Washington, D.C.
- Managing Director – Kristalina Georgieva (Bulgaria, 12th)
- First Deputy MD – Gita Gopinath
- Chief Economist – Pierre-Olivier Gourinchas (France)
- Member countries – 190 (Andorra)
Sports
India to Bid for Hosting Commonwealth Games 2030 in Ahmedabad
- The Union Cabinet, chaired by PM Narendra Modi, approved the proposal to submit India’s bid for hosting the Commonwealth Games (CWG) 2030, along with the Host Collaboration Agreement and required guarantees.
- If the bid is successful, Ahmedabad, Gujarat will host the Games, with world-class facilities like the Narendra Modi Stadium, which earlier hosted the 2023 ICC Cricket World Cup Final.
- Hosting CWG 2030 will bring participation from 72 countries, boost tourism, generate jobs, benefit local businesses, and inspire young athletes across India.
Neeraj Chopra secures 2nd place at Diamond League Final in Zurich, Switzerland
- Neeraj Chopra secured the runner-up position at the Diamond League Final in Zurich with a best throw of 85.10m, marking his 26th consecutive top-two finish in international javelin events.
- Germany’s Julian Weber won the gold with a world-leading 91.51m throw, while Keshorn Walcott (Trinidad & Tobago) claimed bronze with 84.95m.
- Chopra now shifts focus to defending his World Championship title at the World Athletics Championships in Tokyo starting 13th September.
Defence
Airbus Awards MASPL Contract to Manufacture H125 Helicopter Fuselage
- Airbus Helicopters has awarded Mahindra Aerostructures Pvt. Ltd. (MASPL) a contract to manufacture the main fuselage of the H125 helicopter, which will also be assembled in India and later offered for the defence market.
- This deal strengthens India’s role in the global aerospace supply chain, coming just four months after MASPL received a similar Airbus contract for H130 helicopter fuselages.
- Industrialisation will begin immediately at MASPL’s Bengaluru facility, with first fuselage deliveries expected in 2027, feeding into Airbus’ global supply chain that connects to its main production unit in Marignane, France.
Important Days
27 August – World Lake Day
- World Lake Day is observed every year on 27 August to raise awareness about the importance of lakes in maintaining ecological balance and supporting biodiversity.
- The day highlights the role of lakes in freshwater storage, climate regulation, groundwater recharge, and sustaining livelihoods.
- It also aims to spread awareness about the challenges of pollution, encroachment, over-extraction, and climate change impacting lakes worldwide.
29 August – International Day against Nuclear Tests
- The International Day against Nuclear Tests is observed globally on 29 August every year to raise awareness about the harmful consequences of nuclear weapons testing and to promote a world free of nuclear explosions.
- The United Nations General Assembly (UNGA) proclaimed this day in December 2009, inspired by Kazakhstan’s initiative, marking the closure of the Semipalatinsk Nuclear Test Site on 29 August 1991. This site was one of the largest nuclear testing grounds in the world.
- The day emphasizes the urgent need to end nuclear testing, strengthen the Comprehensive Nuclear-Test-Ban Treaty (CTBT), and work towards nuclear disarmament, global peace, and security.
29 August – National Sports Day
- National Sports Day is celebrated annually on 29th August to commemorate the birth anniversary of legendary hockey player Major Dhyan Chand, emphasizing the importance of sports and physical activities.
- On this occasion, Youth Affairs and Sports Minister Mansukh Mandaviya paid floral tribute to Major Dhyan Chand at the Major Dhyan Chand National Stadium, New Delhi.
- Mansukh Mandaviya also launched the Fit India Pan-India Sports Movement, which will run till 31st August, starting on National Sports Day.
- The nationwide movement, themed “Ek Ghanta, Khel ke Maidan Main”, will see participation from eminent athletes and public representatives engaging in sports and fitness activities across the country.
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