Daily Current Affairs 24th July 2025, Important News Headlines (Daily GK Update)

International News

China’s Construction of the World’s Largest Dam on Yarlung Tsangpo (Brahmputra)

• China has started building the Motuo Hydropower Station on the Yarlung Tsangpo River, aiming to create the world’s largest dam, triggering geopolitical and environmental concerns in India and Bangladesh.
• The project, costing $167 billion, involves diverting river flow through tunnels to power five cascading stations.
• While it aligns with China’s energy strategy, it raises fears over river control, livelihood impacts, biodiversity loss, and seismic vulnerability, making it a key geo-environmental issue in the region.

Banking News

Fino Payments Bank Launches “GATI” Savings Account to Boost UPI Adoption in Bengal

• Fino Payments Bank has launched GATI, a zero-balance digital savings account, aimed at boosting UPI transactions in West Bengal.
• Customers can open accounts instantly at any of 40301 merchant points, with an affordable fee structure and eKYC-based onboarding.
• The initiative promotes financial inclusion, targets rural and semi-urban populations, and supports features like auto UPI ID, FinoPay app, and access to insurance, digital gold, and loans.
• GATI caters to the digitally curious segment, especially the youth, women, and senior citizens.

RBI’s Financial Inclusion Index Shows Robust Growth in FY25

• The RBI Financial Inclusion Index (FY25) improved to 67.0 from 64.2 in the previous year.
• This growth across Access, Usage, and Quality sub-indices reflects the success of government schemes, digital financial platforms, and financial literacy programs.
• It is a comprehensive tool that measures inclusion in banking, pensions, insurance, postal services, and more, helping shape India’s inclusive financial ecosystem.

RBI Conducts Surprise VRR Auction to Infuse ₹50,000 Crore Liquidity (July 2025)

• The RBI held a surprise ₹50,000 crore VRR auction on July 23, 2025, accepting bids worth ₹50,001 crore at a 5.58% average rate, addressing tight liquidity caused by GST outflows and VRRR locks.
• This reflects RBI’s proactive liquidity management and signals policy consistency.

SBI Adjudged World’s Best Consumer Bank 2025 by Global Finance Magazine

• State Bank of India (SBI) has been awarded the title of World’s Best Consumer Bank for 2025 by Global Finance magazine, based on global expert analysis.
• The award acknowledges SBI’s digital innovation, vernacular voice banking, omni-channel engagement, and AI-based personalization, particularly benefiting rural and semi-urban customers.
• This achievement showcases SBI’s role in shaping the future of consumer banking and enhancing India’s financial reputation globally.

Public Sector Banks Flag 1,629 Cases Worth ₹1.62 Trillion

• Public Sector Banks (PSBs) have identified 1,629 wilful defaulters with outstanding dues of ₹1.62 trillion as of March 31, 2025, as per the Union Finance Ministry.
• The government has implemented several legal and administrative measures to recover NPAs, including action through SARFAESI, IBC, and public disclosure via credit bureaus like CIBIL and Experian.
• This issue remains a major concern for the health of the banking sector, especially given the slowing deposit growth and rising credit risk.

RBI Approves Warburg Pincus Investment in IDFC First Bank

• The RBI has approved Warburg Pincus to invest ₹4,876 crore in IDFC First Bank via its affiliate Currant Sea Investments B.V., acquiring up to 9.99% stake through Compulsorily Convertible Preference Shares (CCPS).
• The move, already cleared by the CCI, will boost the bank’s capital base, expand its lending ability, and accelerate its growth trajectory, marking a major foreign investment milestone in India’s banking sector.

Economy News

Fastest-Growing Economy in the World? India Tops ADB’s Forecasts Again!

• The Asian Development Bank (ADB) forecasts India’s GDP to grow at 6.5% in 2025 and 6.7% in 2026, driven by strong domestic demand, a normal monsoon, and monetary easing.
• Inflation is projected to stay within RBI’s target range, with CPI at a six-year low in June.
• While the broader Asia-Pacific outlook has weakened due to trade tensions and geopolitical risks, India remains the world’s fastest-growing major economy, according to the Asian Development Outlook 2025.

Defense News

Meet ‘Samudra Prachet’ The Game-Changing Pollution Control Vessel!

• The Indian Coast Guard’s new vessel ‘Samudra Prachet’, launched on July 23, 2025, is the final Pollution Control Vessel (PCV) constructed by Goa Shipyard Ltd (GSL) to enhance India’s oil spill response and maritime pollution control capabilities within its Exclusive Economic Zone (EEZ).
• With a displacement of 4,170 tonnes and cutting-edge response equipment, it supports Atmanirbhar Bharat, aligns with MARPOL obligations, and represents a milestone in indigenous shipbuilding and coastal environmental protection.

Ranks & Reports News

Mumbai Airport Among World’s Top 10 For Third Consecutive Year

• Chhatrapati Shivaji Maharaj International Airport (CSMIA) has ranked among the world’s top 10 international airports in the Travel + Leisure World’s Best Awards 2025 with a reader score of 84.23.
• It is the only Indian airport on the list and has earned this distinction for the third straight year.
• CSMIA is India’s busiest single-runway airport, handling over 55 million passengers annually, and offers direct connectivity to 121 destinations.
• Recent digital upgrades, customer experience accolades, and ownership under the Adani Group further solidify its position as a global aviation leader.

India’s Passport Sees Its Biggest Jump Ever : Here’s What Changed

• India’s passport ranking has improved significantly in the Henley Passport Index 2025, rising from 85th to 77th — its biggest annual gain.
• Indian citizens now enjoy visa-free or visa-on-arrival access to 59 countries, including Malaysia, Thailand, the Maldives, Sri Lanka, and others.
• The improvement reflects India’s strengthening diplomatic ties, though the mobility gap with leading countries like Singapore (193 destinations) remains wide.
• The Index shows the rising importance of passport power as a marker of national influence and global integration.

Important Days News

International Day for Women and Girls of African Descent: Honoring Strength, Identity, and Equality

• The International Day for Women and Girls of African Descent, observed on 25 July, emphasizes the intersectional challenges faced by this community due to racism, sexism, and socio-economic bias.
• It calls for transformative action through education, leadership, inclusive policies, and protection of rights.
• Their strength, creativity, and leadership are essential for achieving equity and sustainable development.

World Drowning Prevention Day (25 July): A Global Call to Save Lives from Silent Waters

• World Drowning Prevention Day, observed annually on 25 July, was declared by the UN General Assembly in 2021 to address the alarming yet preventable issue of drowning, which kills over 236,000 people every year.
• It emphasizes child safety, community engagement, and low-cost interventions like barriers, swimming lessons, and rescue training.
• Over 90% of drowning deaths occur in low- and middle-income countries, especially in the Western Pacific and South-East Asia regions.
• The day promotes multi-sectoral action, awareness, and stronger policy initiatives to reduce drowning-related deaths worldwide.

International Day for Judicial Well-being (25 July): A Milestone in Global Justice Reform

• 25 July is observed globally as the International Day for Judicial Well-being, declared by the UN General Assembly through Resolution A/RES/79/266.
• It was inspired by the Nauru Declaration (2024) and pioneered by Justice Rangajeeva Wimalasena.
• The day highlights the critical link between judicial wellness and quality justice, and aims to combat stigma, encourage institutional reforms, and promote global awareness.
• The resolution was adopted with overwhelming support, and the observance now invites active participation from judicial institutions, UN bodies, academia, and civil society.

Income Tax Day (July 24): A Symbol of Fiscal Evolution and Digital Empowerment

• Income Tax Day (July 24) commemorates the introduction of income tax in India in 1860.
• It highlights the nation’s journey from colonial taxation to a digitally empowered, transparent, and citizen-centric tax system.
• Over the years, reforms such as CPC, TIN 2.0, Faceless Assessments, and the Annual Information Statement (AIS) have modernized tax administration.
• The Gross Direct Tax Collection has doubled in five years, while the updated ITR window and NUDGE theory foster voluntary compliance.

Current Affairs Today | 24 July Current Affairs 2025 | Daily Current Affairs By Ashish Gautam