DAILY GK 8-10 AUG 2025
1. FIEO RELEASES OVERVIEW OF
STATES’ EXPORTS 2024-25
·
The Federation of Indian Export
Organizations (FIEO) under the Ministry of Commerce
and Industry (MoC&I), released “Overview of States’ Exports
2024-25”, an analysis based on the export data from the
Directorate General of Commercial Intelligence & Statistics (DGCIS), MoCI.
·
Gujarat has remained the
top exporter state of India in Financial Year 2024-25 (FY-25), with
export shipments worth approximately Rs.9.83 lakh crore accounting
for 26.6% of the total exports by India.
·
Jamnagar: Highest contributor
of Gujarat with 36.91% (Rs.3.63 lakh crore) of the total exports of Gujarat.
·
The top 5 export destinations of
Gujarat include the United States of America (USA), the Netherlands, the
United Arab Emirates (UAE), Singapore, and Australia.
·
Jamnagar district of Gujarat
stands high with a contribution of 36.91% (Rs.3.63 lakh crore) of the total
exports of Gujarat.
·
Top three exporting states in FY25: Maharashtra,Tamil
Nadu.
2. MOSPI PROPOSED NEW BASE YEAR FOR
GDP, IIP & CPI
·
The Ministry of Statistics and Programme
Implementation (MoSPI) proposed to revise the base
year for three key macroeconomic indicators Gross Domestic
Product (GDP), Index of Industrial Production (IIP)
and Consumer Price Index (CPI) to incorporate structural
changes in the Indian economy by updating the methodology and including new
data sources.
·
The base year for GDP and IIP is
proposed to be updated to 2022-23.
·
The base year for CPI is proposed
as 2024.
·
For CPI, MoSPI is using the item list and
respective weights from the Household Consumption Expenditure Survey (HCES)
2023-24.
3. RBI’S 3RD BI-MONTHLY MONETARY
POLICY FY2025-26
·
The Reserve Bank of India (RBI) conducted
the 56th and 3rd Bi-monthly Monetary Policy Committee
(MPC) meeting of Financial Year (FY) 2025-26 under the
chairmanship of Shri Sanjay Malhotra, Governor, RBI.
·
Rate unchanged: All the MPC
members voted unanimously to keep the policy repo rate under the
liquidity adjustment facility (LAF) unchanged at 5.50%.
·
Consequently, the standing deposit facility
(SDF) rate shall remain unchanged at 5.25% and the marginal standing
facility (MSF) rate and the Bank Rate at 5.75%.
·
Reverse Repo rate-3.35%,CRR-3%,SLR-18%.
4. RBI ISSUED CO-LENDING NORMS TO
ENHANCE RISK SHARING AND TRANSPARENCY
·
The Reserve Bank of India (RBI) issued
revised co-lending guidelines for banks and Non-Bank Financial Companies (NBFCs) under
various provisions of the Banking Regulation Act (1949), Reserve Bank of India
Act (1934), and National Housing Bank Act (1987).
·
As per the revised guidelines, it is now
mandatory for all Regulated Entities (REs) involved in Co-lending
Arrangements (CLAs) to retain a minimum 10% of each
individual loan on their own books.
·
Timeline: The new rules
mandated the loan originator to transfer the loan to the co-lender within
15 days of the loan being originated.
·
As per the new rules, the originating
lender may also offer maximum Default Loss Guarantee (DLG) of 5% of
the outstanding loan portfolio, subject to the condition to comply with RBI’s
digital lending norms and is not used for credit enhancement.
·
Applicability: RBI’s approved
final norms for CLA have been extended to all commercial banks (excluding:
Small Finance Banks (SFBs), Regional Rural Banks (RRBs), and Local Area Banks
(LABs)), financial institutions, and NBFCs including Housing Finance Companies
(HFCs).
5. AU SMALL FINANCE BANK GETS RBI
APPROVAL TO BECOME A UNIVERSAL BANK
·
The Reserve Bank of India (RBI) granted
in-principal approval to AU Small Finance Bank (AU SFB) for
transitioning from a SFB to Universal Bank (UB).
·
This is the first time after 11 years
that an entity has been granted a Universal bank licence by the regulator.
·
Eligibility Criteria for SFB to UB: SFBs
must have a minimum net worth of Rs. 1000 crores.
·
Status: The bank must have a
scheduled status with a satisfactory track record of performance for a minimum
period of 5 years.
·
The shares of the bank should have been
listed on a recognised stock exchange.
·
The SFB must maintain a net profit in
the last two financial years (FYs). AUSFB reported a rise in first quarter
net profit. The net profit is Rs 581 crore. It was Rs 503 crore last year.
·
They must have Gross Non Performing
Asset (GNPA) and Net NPA of less than or equal to 3% and 1% respectively in
the last two FYs.
·
It should meet the prescribed Capital to
Risk-weighted Assets Ratio (CRAR) requirements of 15%.
·
RBI sets up Standing External Advisory
Committee (SEAC) headed by MK Jain, will evaluate applications for
Universal Banks as well as Small Finance Banks (SFBs).
6. HIROSHIMA DAY 2025 – AUGUST 6
·
Hiroshima Day is annually
observed across the globe on 6th August to
commemorate the atomic bombing of
Hiroshima in Japan by the USA in 1945, an event of great
significance and catastrophe during World War II.
·
On this day, during the final stages of
World War II, the U.S. had dropped an
atomic bomb named “Little Boy”
from the B-29 bomber “Enola Gay”.
·
Those who were able to survive these survivors, known as “hibakusha”,
·
The Genbaku Dome is
the only structure left standing after
the first atomic bomb explosion on 6th August 1945.
·
It was declared a World Heritage Site(WHS)
by the United Nations Educational, Scientific and Cultural Organisation (UNESCO)
in 1996.
7. NATIONAL HANDLOOM DAY 2025 – 7 AUGUST
·
National Handloom Day is annually
observed across India on 7 August to honour the
handloom weaving community engaged in the handloom sector.
·
Theme
“Handlooms
– Empowering Women, Empowering the Nation”.
·
Observed every year on 7th August, the day commemorates the historic launch
of the Swadeshi Movement in 1905,
when Indians pledged to boycott foreign
textiles and revive the indigenous handloom sector.
8. NAGASAKI DAY 2025- AUGUST 9
·
Nagasaki Day is annually
observed across the globe on 9 August to commemorate
the atomic bombing of the Japanese city of Nagasaki by the United States of
America (USA) in 1945, during World War II (WWII – 1939-1945).
·
On August 9, 1945, at 11:02 a.m., The United States dropped the atomic bomb codenamed “Fat
Man” was dropped from US B-29
bomber on Nagasaki.
9. QUIT INDIA
MOVEMENT DAY 2025– AUGUST 08
·
The Quit India Movement Day,
also known as August Kranti Diwas, is annually
observed across India on August 08 to commemorate
the anniversary of Quit India Movement launched on
August 08, 1942.
·
One of the key factors contributing to the
launch of Quit India Movement was the result
of the failure of the Cripps Mission in April 1942, which aimed to secure
Indian cooperation during World War II (WW2).
·
The
resolution generally referred to as the ‘Quit India’ resolution was proposed by Pandit Jawahar Lal Nehru and
was seconded by Sardar Vallabhbhi
Patel.
·
The resolution was officially ratified at
the All India Congress Committee (AICC)
meeting held at Gowalia Tank, Bombay, on August 08, 1942.
·
The movement started on August 09, 1942
following the British responded by arresting all the major leaders including
Mahatma Gandhi.
10. M.S SWAMINATHAN’S BIOGRAPHY ‘THE MAN
WHO FED INDIA’
·
A Biography titled “The Man
Who Fed India” has been released to commemorate the 100th birth
anniversary of MankombuSambasivanSwaminathan(M.S. Swaminathan),
which is celebrated on August 7.
·
He is called the father of the Green
Revolution.
·
The book shares insights about his efforts
towards introducing high-yield wheat and rice varieties that brought India to
food self-sufficiency in the 1960s and 1970s.
11. FORMER JHARKHAND CM SHIBU SOREN
PASSED AWAY
·
Shibu Soren, former Chief Minister
(CM) of Jharkhand and founding patron of the Jharkhand MuktiMorcha (JMM), passed
away at the age of 81 in New Delhi.
·
He was born on 11 January 1944 in Nemra village, Bihar(now Jharkhand) and
was a member of the Santal (Santhal)
tribe.
·
Shibu Soren was widely referred to as ‘ ‘Dishoom
Guru(Great Leader) or Guruji’ by the tribal
communities of Jharkhand, reflecting their deep respect and admiration for him.
·
Chief Minister(CM): Jharkhand (2005,
2008–10).
·
Parliamentary Tenure: Lok Sabha MP
(8 Time), Rajya Sabha MP (2 times).
·
He served as the 3rd CM of Jharkhand, holding office three times—in 2005, 2008, and 2009.
·
He served as a Member of Parliament (MP) in the Lok Sabha in 1980-1984, 1989-1998
and 2002-19, and in the Rajya Sabha in 2020-25.
·
He served as the Union Minister of the
Ministry of Coal, Government of India (GoI), in 2004, 2005, and 2006.
